On this show, Jason Hartman brings on two clients to discuss properties they’ve bought through the network during the Memphis Property Tour. They discuss why they do business with Jason and their experience so far. Later on the show, Jason plays a clip from the Venture Alliance Mastermind with Jeff where he talks about a work-life balance.
Jason Hartman 0:00
Welcome to this week’s edition of flashback Friday, your opportunity to get some good review by listening to episodes from the past that Jason has hand picked to help you today in the present, and propel you into the future. Enjoy.
Announcer 0:15
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in thousands of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day. You really can do it on now. Here’s your host Jason Hartman with the complete solution for real estate investors.
Jason Hartman 1:05
Welcome to the creating wealth show. This is your host Jason Hartman episode number 812. I apologize in advance about the sound quality. We are here live at our Memphis creating wealth seminar and property tour. Two of our attendees just walked up and I said, Hey, do you want to be on the podcast tomorrow? So they agreed to do it reluctantly, maybe I don’t know. Is it reluctant?
Adam Jackson 1:27
No, this is this is great. Okay, good.
Jason Hartman 1:29
So we got Adam Jackson here. And Adam, where are you from? From Shelton, Connecticut. Okay, fantastic. And yesterday on the property tour, you bought a house. I remember we got out and we looked at that property and you said, Hey, I
Adam Jackson 1:41
just bought this one. Yeah,
Adam Jackson 1:42
actually, I had. I wasn’t really intending on buying it. But after going through it and looking at it, it looked like a great asset. And as soon as I found out that nobody else had picked it up at that point, I decided to go ahead and take it.
Jason Hartman 1:54
Yeah. Good for you. Congratulations. Now, when did you start listening to the podcast.
Adam Jackson 1:58
I started listening now about a year and a half. ago.
Jason Hartman 2:01
Oh, fantastic. And Was that your first property that you bought yesterday? Or have you been buying other investment properties? Or, you know, give us a little bit of background? Sure. Actually, I started investing back in September 2016. And since then, actually, this this was my 10th income property that I picked up
Adam Jackson 2:17
yesterday. Fantastic. So you got your 10 Fannie Mae, Freddie Mac loans right already maxed out. So this is technically this is the 11th because my primary residence takes up one. So yeah, the the 10 loan limit has been maxed.
Jason Hartman 2:29
So Adam, you had come up to me just a moment ago, and you were talking a little bit about your experience with investing in the creating wealth show and so forth. And Was this your first event that you’ve attended a verse?
Adam Jackson 2:40
Yes. This is the first event with the Jason Hartman network.
Jason Hartman 2:43
Good stuff. What have you learned on the podcast? or what have you thought about it? I mean, has it helped you in your investing? Is it the Is it the first investment education you’ve had? Or have you been working on this stuff for longer?
Adam Jackson 2:54
Actually, I’ve been studying it for probably about two years now. And I mean, But my learning curve went up tremendously as soon as I discovered the podcast, and since then, I mean, I study on my own. But of course, I listened to the podcast religiously. So this is something that I’ve probably been studying it now for two years, and decided to start investing. Because about six months ago now, eight months ago,
Jason Hartman 3:18
fantastic, fantastic. And you’ve already got your 10 it’s in which which markets are you in? Okay, all right now, five and Mississippi, and five in Memphis. Okay, so you did five and five, and your next five should be in another market. Okay. Because I want you to be in three markets.
Adam Jackson 3:34
Okay. Yeah. Now that sounds good. I mean, not now. This gives me time to sit back, do some research figure out what’s going to be most fitting for the portfolio. And and then we’ll just pull the trigger on the third market. Good stuff. Fantastic. How’s it all been going with you? Have you had some bumps in the road? Some problems? Has it been pretty smooth, or how’s it been going? I’ve got to say it’s been it’s been really smooth. And most of the properties that I’ve that I’ve acquired, have been rehabbed. So the maintenance costs have been fairly low. But you know, as far as all that goes the the rent has been collected each and every time. And then there’s just minor and really just minor maintenance costs. But other than that, I mean, it’s been a really good experience so far.
Jason Hartman 4:13
Hey, that’s fantastic. Good to hear. Good to hear. You won’t always be that way. I’m just gonna warn you there will be bumps in the road, there will be problems I figured I’m mentally prepared for for any kind of, you know, small issues to arise, but I’m ready to deal with them. Good. Good stuff. That’s a good attitude. Definitely. Okay, Stefan, are you gonna be on the podcast? Do you? Come on Get over here. So Stefan is from Northern California from Fremont, California. And he was super kind drove all over and Coco and I up to Jonesboro, Arkansas on Friday, yeah, the day before our event here. And so thank you for driving us. That was great. And it was really great to get to know you and talk to you and learn about your career and your investments and so forth. So again, thank you for doing that. Now.
Stefan 4:59
Is this Your first event of ours actually just be my second event came to the meet the Masters event in January. And that was a really big blast being able to see a whole variety of different markets specialists. Since then, I went under contract with two properties. And I wasn’t expecting to get something here this time, but just went in there. everything made sense, you know, all the parts came together really well, you know, you got to really a really good local market specialist. And the lender is really convenient to have all these presence of these members present here like the air in here for the lending and just went ahead and got one pull the trigger one this time,
Jason Hartman 5:40
good for you Good for you excited about that. That’s good to hear. So it’s like that one stop shop kind of thing. It makes it really easy, huh?
Stefan 5:48
I think that’s what makes it really unique with your you and your group is that you have the whole machineries already. You know, over the years, I’ve always considered and thought about possibilities in real estate even from 20 years back and Carlton sheets are, you know,
Jason Hartman 6:01
and remember Carlton sheets, whatever happened to that guy on the infomercial, he ordered the book and I read it. And I was like,
Stefan 6:05
Well, now what you know. So that’s what’s totally amazing about you and your group, you have the whole, it’s like a whole factory. It’s just all set. You know, all the pieces are just one email or one call away. Well, I think it would have been impossible for me to get into this, if it were not for you. So I truly appreciate that.
Jason Hartman 6:23
Oh, thank you so much. That’s so nice to hear, you know, it would have been possible, it just would have been a lot more difficult because as I mentioned before, you know, I basically started this business to be my own customer because I tried to do it. And it was super hard. So that’s, that’s the thing. It’s getting a little noisy out there with the crowd. Tell us a little bit about yourself just real quickly, and we’ll wrap up and we’ll go into the segment we’ve got we’ve got a what we’re going to do today on the podcast, by the way, is we are going to be a fly on the wall at the last venture Alliance meeting in Las Vegas. As one of our members talks about just being productive and being successful. He just gave A little impromptu talk just sitting at the conference table. And I, again recorded it just with an iPhone. So it’s not super high quality just like this isn’t but it does the job and the contents good. So I think everybody will like that. But before we get to that, did I mention what do you do for a living?
Stefan 7:15
My careers in I’m a physician, and I practice out in Northern California. I do primary care, and, you know, having an income that’s not a problem, but it’s the actual as I said, you know, the investment, figuring out the time getting things together, that’s the hard part, you know, in my busy career, but with with this with your recipe for success, there’s nothing nothing I’ve seen that’s greater than yours.
Jason Hartman 7:41
Good. Well, hey, thank you very much. How many properties do you have now? And what are your plans?
Stefan 7:45
Well, I actually have 200 contracts and one this time so three, and I’ve won out from a long time ago that used to be my principal residence, but uh, yeah, super excited about Yeah,
Jason Hartman 7:56
good, good stuff. Well, hey, thanks for Thanks for letting catch a ride with you the other day and see another market that we kind of been considering a little bit too. So appreciate that. And let’s just wrap it up anything else,
Adam Jackson 8:08
Adam? No, you know, I just wanted to say that I appreciate everything that your network does. Again, I was looking through an old goals book yesterday and saw that my my annual goal by June 1 was to acquire one income property.
Adam Jackson 8:23
So I definitely surpassed that I had zero added a zero to that. And also months in advance. So, you know, I appreciate everything that you and your network does. And, you know, it’s been it’s been a great experience I looked at can look forward to continue doing
Jason Hartman 8:38
this. Yeah. Thank you so much, guys. I really appreciate that. And listen, you are the customer, you’re the client. And so we appreciate you more than anything. So thank you, and thank you for coming on today and just sharing your experience with the audience. I just want to remind everybody, because it’s come up a lot this weekend. A great little segment that you all want to hear is go to Jason Hartman calm Use the little search bar there and search A Tale of Two brothers. Okay, because that segment has come up a few times this weekend. And I think it’s really important for people to hear that there’s a little podcast on that. Now I got to make sure it’s titled that. I said that without actually searching it myself, but I hope it’s that that exact title so you can find it. But that is a past podcast you definitely want to hear. And I know you guys relate to that. So again, thank you both for coming on. Remember, you’re listening to flashback Friday. Our new episodes are published every Monday and Wednesday. Now we’re going to be a fly on the wall at the venture Alliance meeting in Las Vegas, as we listen to one of our members talk about being productive and successful and this guy is super successful. So I think you’ll really get it was a great little impromptu talk. And again, our audio quality is not that great on this one. But we always try to bring great content sometimes it’s spontaneous as it is right now. You know the next episode why better audio quality, but I think you’ll love the content for both of these segments. Thank you so much. And let’s be a fly on the wall at the venture Alliance meeting. Here we go. Okay.
Jeff 10:21
Yeah. You want to go up to the morning? I’m fine here. Alright. Good visualization. Yeah.
Jeff 10:30
And I’ll talk to you guys one on one about
Jeff 10:35
daily business practices.
Jeff 10:38
And so one of the things it started off really elementary to me It started you know, with cliche, obviously call you hardcore readers in here, but the Tim Ferriss book when the very first came out the four hour workweek, it revolutionized a lot of the way that I did things. It’s constantly evolved over time to where I would have a daily power list for pointed out the day so I know that my task at hand I’m very, I’m very task oriented task oriented person. Funny enough, my wife knows if she wants me to actually get anything accomplished. She’ll write it down, put a checkbox beside it as I go down the list. It gives me fulfillment too. So the thing that we’ve morphed into the most recently, I really truly believe fitness business relationship based, it has to be a daily commitment to the long term goal. So we broken things down and reverse engineering and reverse engineered in the business. Obviously, we all talk about annual goals. I relate things a lot back to sport. So obviously at the beginning of every NFL season, the ultimate goal is to win the Super Bowl, but what you have to accomplish on a daily basis to be able to do that so we break things down to the quarter. We like to do 90 day stuff. And we go for the the entire person. Okay? Not just business goals, but we do body being balance in business from Our main main focuses. So we have a core four format that we roll out for our 90 day goals. But we always ask we’re going back to the why on a lot of stuff. What am I choosing? Why am I choosing it? What day will I focus on it and how I go about getting it done. And then on a weekly basis, you have to outline one thing to accomplish per day. I my entire week on a Monday, Monday’s my preparation day and all my management meeting with all my key figureheads. I light up the entire week. But I have one primary focus, like you mentioned earlier, the rock analogy, it’s a great one. If you don’t schedule the important things for everything else is going to take over take over your day. So you allow the day to get away from those knees. So if you put in the four large stones first then you can fit in the gravel then you can fit in the sand if you truly be full once it’s built to the brim of water, but if you don’t make the time for the most important things in the day, or like I said, I have one focus every day. I have one thing if I accomplish this my day was successful if I win the day when the week when the month you know, so we’ll use an example of like
Jason Hartman 13:06
a one thing per day focus. Yeah,
Jeff 13:08
no, absolutely. I’ll get into what we do. And I’ll get into what my current core nozzles are. Yeah. So we call we call the the weekly or daily process. My one thing my key four, and they have to be something obviously, that are going to go to a focus of hitting my quarterly goal for whatever it is between, like I said, body being balanced business unit, someone asked earlier about reading, how do you how do you read so much? I get that question a lot. Jeep sounds like most of you read way more than I do. But I’m focused a lot on four main things every morning. I do standard words of encouragement. That can be as as small as telling my wife I appreciate something she did for me. That could be messaging a business partner say hey, I’m thinking about you. I appreciate you. If not for you. I wouldn’t be me. That could be Tell my son, he played a great game last night. You know, just a word of encouragement to somebody. Okay. The director wants to listen to one podcast every morning. It’s a morning ritual. It could be for motivational it could be from the how I built that series that could be in that CEO. I don’t know, if you guys turned to that or not, it could be Tony Robbins, it could be Cardona. It could be, you know, most of the time with me, I need someone that’s gonna fire me up. And so you know, where I can get a lot of the educational side on how I built that, which is really cool. A lot of times I like to be fired up and and it’s a great podcast. Yeah, it really is really interesting. But then I also read 10 to 15 pages every day. So it’s a daily focus, daily commitment to read whatever book that we’re practicing, and then also have a daily commitment to my body. So it’s not necessarily always just exercise, meditation. It could be stretching, just anything to get the blood moving first thing in the morning, like I said, whether it’s a full blown going to the gym or anything, but I have So my daily count or my weekly calendar looks like this, I have my first four on the top, check them off as they do them every day. And then my daily focus for that day. And then off to the side is my weekly focus for my key four, and always be reminded about what my core four is for that quarter in order to accomplish so. So like, right now, to give you an example. And everyone can be a little bit different on this. I mean, it just depends on you know, what if you’re just starting, like in a fitness journey and stuff like that, you know, a lot of people like, you know, what could you still accomplish on fitness or anything like that, but it’s always different. Like right now I chose to do in this, you know, this is goofy to most people, but that’s okay. My son, my oldest son’s been in the basketball. So it’s all about increasing the vertical leap right now. So I’m committed right now with him to do jump training. I do drug training with him twice a week. It’s good bonding time. This is something that you know, I can dunk a basketball right now, but I want to be able to be able to do whatever I want, like I used to do, but then I break down to why I’m choosing it. So I go into great detail specific detail about why I chose this specific task of job training. Okay, what day Am I going to focus on it? So you need to have a commitment or planned time to be able to focus on it or what day is going to be accomplished on, and then how I will go about getting it done. Anytime that you can be more specific to the task at hand are more specific to the goal. If so, I don’t remember who was talking about digging deeper. The main objective so you say the old sales cliche is, what do you think about it? Yeah, but what do you want to think about? Is it the money is it the time is it the commitment is you’re too far away or too close? Is it the colors, you know, and that’s how I take and break down every goal to Okay, you want to lose weight? You said? Why? Why do you want to lose weight? I want to be skinny. Why do you want to be skinnier? Well, I want to fit with these jeans. Why is that important to you? What makes me feel better? You know really digging down to the root cause of you know, I don’t like the word why I love the root cause of why exactly. Tell me specifically why Yeah.
Jeff 17:05
Yeah. And so that, you know, you know, having a lot of millennials that I work with you they always ask about the why and I’m more about the why not more more than anything usually, why not me? You know somebody’s gonna do it why not us? Why not me? But anyway oh, like I said, the more specific it anytime you are in a business plan or strategy or anything you know, and you’re detail more commitment you are to the actual task at hand too. So I did two parts on my body for my 90 day deal. I do food as well. I’ve been in the process of trying to just do overall size reduction was about 290 a couple years ago. So what am I choosing I have here to 10 to 12 calorie per pound of body weight. And then I do a Saturday diet time out because I don’t like to use the word cheap because I think it’s a nasty word. And then I say specifically why I’m choosing it. And then I say what is my gonna focus on it on and I tell about specifically how am I going to accomplish this in mind Basically, I track all my macros that spoke to me about the macro tracking to on My Fitness Pal. And that’s how I keep control of all my breakdown, percentages, carbs, proteins, fats, whatnot. On my being, I had two different parts that I’ve been working on, I’ve never been, you know, is you start to, you know, the how I built that series or when I just read, like, or when I meet like minded individuals, it’s really nearly odd how similar most of us are, we have the same rituals to say, you know, I’m a guy that we literally have the exact same day. I’ve never met the guy before my life, but we know what your day normally look like, Man, that’s exactly what my day looks like. So, meditation is a key factor that I’ve seen in a lot of highly successful people. And it’s just something you know, I’ve been to prayer that meditations different, you know, it’s, you can download an app headspace. I don’t know if you guys use that or not. Yeah, but it’s just it gets you into when we talked about, you know, lying in bed and the productive minds. spinning out of control. And meditation helps to you to focus on, you know, Tantra or saying or a visualization to erase the mind or to stop the mind or to focus the mind onto one key point. And like I said, most of the biggest minds in the world ever in history where meditation was a part of daily practice. So it’s, you know, if it was good enough for him, it should be good enough for me to if it did I break it all down to why am I choosing it? Why Why did or what am I choosing? Why am I choosing it? What am I going to focus on? How do I get it done? On the study focus, mine was to do daily commitment to read the Bible. So I have a Bible app downloaded on under we haven’t discussed a couple of sets discuss religion here, but I’m hoping Christian, just throw it up there. So I have a Bible app and it gives me a scripture of the day to walk me through the Bible for 365 days. But then I go into detail about why it’s important to me and all of that, on balance. A lot of times the hardest thing that I ever transition is you have this Essentially play in life when you’re going through business between all these different things I’m talking about. And usually at the beginning of life, when you’re in the entrepreneurial mindset, you’re all the way over here on business and the families and the collective and your body’s neglected your balances and all put together as one. And so, you know, I would, I would come home and work and I would get up and work and I would go to work and I would miss kids things, you know, early on, you know, working 80 to 100 hours a week. So my biggest thing as I’ve gotten older is is the true balance of life. So, being in the true moment, choosing to leave my phone and go watch a basketball game or soccer match or something like that to where that’s gonna handle itself. It’s gonna be there when I’m done. You know what I mean?
Jason Hartman 20:45
Just a reminder, you’re listening to flashback Friday. Our new episodes are published every Monday and every Wednesday.
Jeff 20:55
So the balance is really important to me because I think true success is not just Financial number, you know, it’s it’s, it’s being a good father being a good husband, it’s being a good business partner as well. It’s taken care of yourself as well, you know what I mean? So there’s a lot that goes into makes up to what I define success as now, which is polar opposite of what I thought it was 20 years ago, it’s just about money back then it really was. So in the relationship, that’s where I come into the balance with the words of encouragement, the daily words of encouragement. And again, on each of those two relationships, one was about my direct family. And I chose to use a daily words of encouragement the others to my business partners and Associates, because I think a lot of time, we don’t give people enough gratitude for what they do. And I know with everyone that’s in my strategic alliance, I wouldn’t be able to accomplish what I’m able to accomplish, if not for them, so I’m only as good as they are. Truly so. Yeah. How do you do that with a phone call a step by visit a card versus just text or email. Yeah, that’s a question it depends on it depends on the person he sends me flowers. Yeah, every day. It depends on how much normal interaction I have with an individual. So if it’s someone in the office, obviously, it’s face to face, or, you know, wait to phone call, because these are things I usually accomplish first thing in the morning. So it just depends on how early in the morning it is, like I wouldn’t call someone you know, if I would happen to wake up really early that day. So it just depends that’s subjective to the person I’m dealing with, but it’s typically a text entry questions with the kids, it’s different my direct family, you know, I obviously I tell them in person, but even then, you know, sometimes I’ll write just a note and stick it in their, you know, backpack or stick it on, stick it on the steering wheel or, you know, something like that, too. So, it’s just one of those things, people it’s nice to let people know that you care, you know, even though we all really know. I mean, it’s nice. It helps people the the affirmation helps people, you know what I mean? on the business side, the studying that goes more into the daily commitment to reading for whatever book is at the time, that But also the daily commitment to just podcast man. Like I said, I started implementing it a long time ago and I feel my day more productive when I start my day off right at the beginning, I thought it was the selfish side I thought, you know, you’re taking two three hours in the morning to get all the stuff you could be staying busy work but I realized that my days more productive when I start my day with this pattern, so then teach and grow. So like I’ve talked to most of you one on one I try to manage everything for multiple projects and strategic partners that I rely on on a daily basis to manage daily operations. And I tried to manage everything from a 10,000 foot view in having making sure like a you know, talk to you guys about have to be in line with the balance in the values and the commitment and the drive and the long term vision of whatever company you’re looking you’re looking to grow. And Miss hire like
Jeff 23:55
misfire in my opinion is just as bad if not worse than not hiring someone, it’s better just to wait. So you know, we’re big into the hiring process, making sure someone fits our mold and make sure someone is a good Apple for the whole bunch as well and shares the same vision and values that our companies believe in. So how many employees do you have? Ah, man, overall with everything, I would guess, three to 400 500. Like those are no employees. Really? Yeah. Yeah. I mean, between all the clubs and everything, yeah. Wow. Yeah. Home Office, home office? Probably. Not probably you have 14 and home office. The health clubs are what rise it up so much, because your average Oh, yeah, there’s a lot. Yeah, you have Yeah, so direct employees and that daily interaction with less than 20 less than two, okay? So they’re really what I try to focus on is my my main 12, my main 12 guys and gals that have the direct daily focus with everybody else. So that’s, that’s my core focus, and then they pass down those values and beliefs to everybody else. So You directly manage for working people you don’t have? Well, that would be in a tiered system. So no I do not direct are getting a little. So home office has 14 direct employees through different companies. So property management company debt negotiations company, real estate investment company and then a real estate brokerage as well. Now, I have other companies, sports supplement companies, health clubs, new construction, and then revitalization company or innovation company as well. So Mike, in a product brand design company web development company, but my focus is on the individuals at each of those. Okay, how do you Report View direct 12 to 14 on average, Devin? Yeah, and you’re able to manage that. Yeah. But I said so Mondays, Mondays is our meeting today, but it’s one of those things too. And so every every two hours on a Monday I’m meeting with all the key figureheads in the biggest thing that I really we started doing about it six months, eight months ago. We do in the middle of that day. We bring everyone in the same room together roundtable discussion we do similar to what you’re taught what’s a hot seat? what’s, what are the problems and the pitfalls of last week? How can we brainstorm collaboratively to lift each other up, you know, rather than pull each other down or feel that we’re in competition, because we’re all here for the same common goal, same value, same desire. So, yeah, if you It goes back to the to the focus. So you know, if, if people call me during the day, and I’m just blunt with people, if you’re not on my list for that day, I’m not gonna answer the phone. That’s just the way that it is. Because, you know, I learned that there were so many times where I wouldn’t answer the phone, I was reactive. I chose to intersect myself or insert myself as a reaction, and they could have figured it out on their own. I told a couple guys about this, I’ve learned that I don’t want to create a Dewar. That’s micromanaging. I want to create a leader. So I want suddenly nailing exactly you’re choosing to to put them on that path to follow this list. You know, and I can say that because I’m a list person too, but it’s my list. I have ownership in my list prior to voting. In it anytime that you allow someone to go out on their own, and you take that risk, you know, you take that risk. But even if someone could do something to 50 to 80% effectiveness as you eventually as long as they’re training up, they’re going to constantly grow and get better and better and better and better. And I would rather have 10 people at 50%, obviously 500 as opposed to me at one or 100 just because it’s not rational to think and you can’t grow the economy of scale, like we’ve talked about, this doesn’t work that way. So that’s how I operate. It’s all on my daily side. So I just wanted to share that
Jason Hartman 27:33
Yeah, awesome. Really good. Got thank you so much for listening. Please be sure to subscribe so that you don’t miss any episodes. Be sure to check out the show’s specific website and our general website heart and Mediacom for appropriate disclaimers and Terms of Service. Remember that guest opinions are their own. And if you require specific cific legal or tax advice or advice and any other specialized area, please consult an appropriate professional. And we also very much appreciate you reviewing the show. Please go to iTunes or Stitcher Radio or whatever platform you’re using and write a review for the show we would very much appreciate that. And be sure to make it official and subscribe so you do not miss any episodes. We look forward to seeing you on the next episode.
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