Mon, 29 December 2014
Many people find themselves in trouble with debt because they’re getting into debt for the wrong reasons—vacations, clothing, cars, and gadgets that all create the illusion of wealth. Many of us overspend and over consume to the point of financial hardship. It isn’t a pretty situation.
But, as you may have learned, Jason Hartman loves debt. The IRS and our system of banking rewards the person in debt by providing loan modifications, allowing short sales, letting us deduct interest. But all of this for good debt.
To begin your life of financial freedom, start by looking objectively at your portfolio. Four percent of its value should be in reserves to cover income property vacancies or unforeseen problems. Never put yourself in a position where you’re forced to sell because you didn’t plan ahead.
Follow Jason Hartman’s Ten Commandments, beginning with educating yourself and buying properties that make sense (no speculating!). Set money aside for problems, and stay in touch with the professionals assisting you.
If you work with Jason Hartman and his team, this is especially easy. You’ve got free rental coordination for life, free of charge—which means that you’ll have a property manager who finds and manages tenants for you. Your rental coordinator will also place ads for your property, ensuring that your property is rented and your property manager is on it.
Additionally, you can call the team if you’ve got any trouble, no matter how long you’ve owned the property. In traditional real estate, there’s a heavy commission. Selling one property results in a lot of income, but Jason’s team depends upon repeat business. It’s fine if you buy just one property—expect the same level of service and dedication, as well as access to awesome software designed to make investment easier for you.
Best of all, income property investing allows you to be your own boss. And, unlike other types of investments, you aren’t losing money to crooked CEOs and fund managers. Everyone needs a place to live, and your portfolio is benefiting from it.
Love being a borrower. Makeover your portfolio by owning properties in different cities (diversify!) and buy in areas that make sense. Hang on to your properties and Refi Till Ya Die!
Mon, 22 December 2014
It’s well documented that income property is the most tax favored asset, and taxes make up the single largest expense for many people. Between 40 and 60 percent of most people’s income goes toward some form of taxes, and those numbers appear to be on the rise.
When we talk about real estate, it is important to consider it as two separate components. There’s both property and house sitting on it, which is important because the IRS says that houses aren’t worth much because they’re temporary—someday, they will fall to the ground. Land does last forever though, so we look at land versus improvement value.
Jason Hartman refers to the sticks and bricks sitting on the land as packaged commodities, which hare globally in demand. The house shouldn’t be considered in its entirety, but viewed as individual pieces and parts that make up something larger. Think about houses as concrete, copper wire, petroleum products, steel, insulation, lumber, labor. A series of commodities.
A house will last a certain amount of years that varies based on where you live and who you’re renting to. The IRS has decided that you can depreciate your income property over 27 and a half years. As a tax benefit, this is great because it’s a non cash write-off you can get year after year. This write-off, if you qualify, is worth a significant amount of money. A certified CPA can help you see if you qualify—or help you qualify if you don’t.
Making money through income properties depends upon the government making bad decisions—and that is never going to change. When opportunity knocks, we know you’ll be there to answer.
Mon, 15 December 2014
It is important to first recognize that, when referring to ROI, we’re talking about Return on Inflation. Return on Inflation is not considered in terms of inflation, or what Jason Hartman calls “inflation induced debt destruction.” When you see a return on investment, it is actually higher than that, given inflation.
In the world of income property, return on investment is driven by four major things. Because it is a multidimensional asset class, it isn’t as simple as buy low, sell high. The first pillar driving ROI is appreciation. Appreciation is amplified with leverage, which has made people a fortune in real estate. Debt in real estate is a great thing because you aren’t the one paying your debt—that’s what tenants are for! So, borrowing for the sake of a real estate investment is a great thing.
The second pillar driving ROI is cash flow, specifically positive cash flow.
The next pillar is principle reduction. If you own a property, your tenants pay down your loan for you. Tenants pay your mortgage, and that’s a great thing. But it is perhaps overly simplified. What’s actually happening is a bit more complicated. People think that they’ve created wealth because of appreciation, but real wealth is being created because debts are declining in value—inflation benefiting us. Inflation reduces loan balances.
The final pillar is, of course, tax benefits, as real estate is the most tax-favored asset class in the United States. When looking at past investments returns for comparison, it is clear—investing in Wall Street is little more than gambling. The real way to build wealth is real estate.
If you lose money in the stock market, you can only deduct $3,000. If you sell your stocks and actually make money, you pay capital gains. There isn’t a 1031 Exchange for stocks either.
Income property allows you to defer the gain and keep exchanging. It appreciates by 6.4 percent, and it has for many years.
Sure, income property may lack the appeal of a weekend in Vegas, which is essentially all investing in the stock market is. But it is a different kind of (more reliable) fun. And it works to build long lasting, reliable, tangible wealth.
Mon, 8 December 2014
The economy is still tanking, people are out of work everywhere, and foreclosure signs continue popping up at a fearful rate. How can this be a good climate to start any business? What you”re forgetting is that public speaking engagements are all about solving problems for people, and you can bet a large percentage of them have a heap of distress on their plate right now. If your topic already addresses how to solve some of the specific problems facing Americans today (jobs, debt, and foreclosure to name a few) you”re on the money train. If your topic doesn”t address these issues directly, figure out a way to massage the material so that it does.
Seriously. People are hurting and they want it to stop. The sad truth is that most people will dig deep into an already decimated personal budget to cough up the money it takes to hear a speaker or read a book that promises to help them with their overwhelming problem. Most often, the solution is within us but self-analysis and motivation aren”t qualities always evident when we”re needy.
The concept you should keep in mind while going about building a public speaking business is “THE economy” versus “YOUR economy.” To paraphrase a line from a Jimmy Buffett song, just because there”s a recession doesn”t mean you have to Gambling participate. Instead of whining about the economy, kick your marketing plan into high gear, recognize there is no such thing as job security anymore but that doesn”t mean you can”t make a heck of a lot of money this year. Right now!
What are you waiting for? You already have everything you need to turn your public speaking business into a highly profitable endeavor. You don”t need to buy product or rent a space. All you need to do is get the news out that you”re the cat”s meow when it comes to speaking engagements. Once again, what exactly is it you”re waiting for? The starter pistol?
Keep this in mind and you can”t fail – you”re not selling speeches, you”re solving problems. No matter the form your message takes, DVD”s, CD”s, books, reports, digital downloads, podcasts, the strategy is the same. Fix people”s problems and you can”t go wrong.
Mon, 1 December 2014
What profit strategies should you employ for your public speaking career? There are way too many variables to offer a one size fits all answer but here are some mental nuggets to ruminate upon. First of all, if you’re famous, you probably won’t have to do any marketing at all to stay busy. Former President Bill Clinton regularly gets a few hundred thousand dollars to show up and speak for an hour. One event paid him over half a million. Charging fees like that, we’re guessing he doesn’t have to do much marketing for his services. Word is already out there that if you’ve got the money, he’s got the time.
But what profit strategies work for the opposite end of the spectrum, for the newbie public speaker trying to get a toe in the door to this potentially lucrative career? To give you an idea of what others have done, you can probably charge $200 for your first few engagements. If you’re good at it, and word of mouth builds, you could be charging $500 to $1,000 per talk by the end of your first year. Some speakers have a sliding fee scale depending upon the organization. Extras like travel and eating expenses are normally paid for. Whether or not you negotiate your fee is up to you. Some speakers do and some don’t.
These days the internet should absolutely be at the center of your profit strategies to get the word out. That you need a website goes without saying but we’ll do it anyway. You need a website! Article marketing is a great low-cost way to not only drum up business but establish yourself further as an expert on the topic. Two great article directory sites are Ezine Articles and Articles Base. Depending upon your motivation to be productive with your writing, these two sites alone could generate a steady stream of traffic to your website within a few months…or sooner.
Remember, provided you have some skill at speaking, the level of economic success you find primarily depends upon your work ethic. Now go for it!
Mon, 24 November 2014
The era of lifetime employment is over.
There are a few government/corporate holdouts that might fool you into thinking your job is secure, or might even offer some sort of a pension if their around long enough to pay it out. The question is can you rely on it? At Speaking of Wealth we wouldn’t take that bet. It’s obvious to us that the era of self employment is upon us. Everywhere you look people are turning certain knowledge into comfortable lifestyles. While the internet marketing industry is huge (marketers marketing to marketers), it’s only the tip of the iceberg.
Ordinary people, unemployed professionals, housewives, and college students are figuring out how to turn what they know into cash flow. A few recent examples we’ve come across:
1.Hardcore college football fan starts a website where he picks games that becomes massively popular.
2.Business man who raises tropical fish as a hobby begins a newsletter and soon is selling books on the topic to his rabid followers.
3.Fitness instructor blogs about weight loss and earns thousands monthly.
The lesson here is that what you know is worth something. Don’t be too quick to dismiss your knowledge as inconsequential and worthless. Niche markets are huge. Yes, there may only be a handful of people who collect antique John Deere toy tractors in your hometown, but what about in your state, country, or in the whole world? Think about it like this and the niche suddenly becomes huge and the internet allows you to seek them out and market to them.
It’s a brave, exciting new world.
Mon, 17 November 2014
The new publishing for profit model can hinge on something as plain and boring as an email list. In the days of yore before recorded history (prior to 2000) direct marketers/publishers knew that the power of the almighty dollar resided in the list. Back then a list was something you paid a list broker for or, as time went on, cultivated your own snail mail contacts. Today the mailing list has been transformed into an email list but the age old tried and proven techniques remain.
Your best prospective customer is one who has already purchased something from you. Despite the Internet, Facebook, and Twitter, people are still people and the motivations that have always inspired them to buy remain the same and high on the list is trust. If they trust you, you’re golden. The only thing that has changed about the publishing for profit model is the delivery method.
To sell books today, first concentrate on developing your email list. Think of it like this. You have 10,000 loyal subscribers to your newsletter developed over the course of a few years. They have explicitly given you permission to contact them by email. They like what you do and think you hung the moon. Is there a better audience to appeal to when it comes time to sell your next book? We think not. Send a special mailing to the list advertising when and where your newest is available. A certain percentage will buy on the strength of one announcement, which just might be enough to vault you to the top of your category at Amazon for a day.
Careers can be made by hitting the top of Amazon. Building a responsive email list is powerful stuff in the new world of publishing for profit. And the ivory-towered NYC publishing moguls? You don’t need them a bit.
Wed, 12 November 2014
Selling your brand to consumers is not a bad idea, it’s actually wise if you want to be known for who you are and remain at the top in your industry. By selling your brand we’re not advising you to list it on the market or put a price tag on yourself, but sell who you are and what you represent to your target audience. The connection you will make with consumers will be far more than if you sat still and held back on information or value others might see in your brand. So begin today and sell your brand, but don’t sell out using our four ideas to maintain that reputation and hold true to your company and self-beliefs.
Several successful entrepreneurs underestimate this technique, but selling is what will get your brand out there and recognized. Let’s straighten things out by first explaining the difference between selling your brand and selling out. Selling your brand means to strategically market your talent and showcase who you are and what you stand for as a company or organization. Selling out means you are trading your true self and beliefs, like your mission statement, for a gain (money, reputation).
By not selling your brand you are closing off several consumers that know nothing about you, leaving word-of-mouth as your lead advertisement. With that rate, hopefully your brand will be heard on local radio stations by the year 2034. Avoid waiting another twenty years for your brand to be known, instead use the following marketing tips to sell your brand today.
Keep in mind your personal mission statement. As long as you stick to these words, your name and brand will stay true and you won’t sell out.
We have provided four ways to ensure that sell out will not happen.
1. Every week keep a report of what you do.
Write down everything good the company has accomplished or achieved throughout the week. Even the smallest actions can go the furthest when it comes to connecting with consumers. Include the picture of you and your staff visiting a pumpkin patch or share a positive experience you encountered with a customer this week. Those connections are what consumers can relate with and draw them in to become a dedicated and life-long customer.
2. Go into the public eye.
Get your brand out there, inform the world who you are and what you stand for by sharing information on social media platforms (like Facebook, Twitter, YouTube, Tumblr, etc.). Be one of the top in your industry by again, connecting with your audience. Build your profile to highlight your success and ongoing developments to consumers, listeners and fans.
3. Get involved with your community.
Join organizations around your community. Go to the committee meetings, public hearings, become a member on the non-profit board or visit your local Chamber of Commerce. See how you can speak at these clubs and events around the community so your name, and business, is familiar and well-known to the locals.
4. Take necessary risks.
If you want to on top, then you’ll have to take the necessary risks others are too afraid to make. According to Inc., “Those who do stupid things without first getting permission can get fired. However, people who achieve brilliant things without getting permission get praised.” That doesn’t mean you have all rights to go out and do what you want, but rather to go out and be loud, stand tall and sell your dream, not beliefs.
The next time you’re contemplating an advertisement or marking plan, remember these four tips to sell your brand, but don’t sell out or you could jeopardize all you worked hard for and dreamed to achieve.