Donald J. Trump always has thought big, and he readily admits that in his book, “The Art of the Deal.” He writes: “I like thinking big. I always have. To me it’s very simple: If you’re going to be thinking anyway, you might as well think big.” Such thinking obviously has served The Donald quite well on his way to becoming a billionaire and claiming the presidency of the United States.
However, here at “The Speed of Money,” brought to you by real estate investments expert Jason Hartman and his Platinum Properties Investor Network, we say it’s OK to think small — while you’re on the way to thinking big. We have devised, in fact, three small actions to take before thinking big like Trump.
Here are those three ways:
1) Become Educated, Which Includes Not Only the Resources Brought to You by Jason Hartman and the Platinum Properties Investors Network, But Other Sources as Well
Trump says his career began with “a small loan of one million dollars” from his wealthy father, Fred. From this “small” start, the future president would later appear on the initial Forbes List of wealthy individuals in 1982 when his fortune was an estimated $200 million. During the rest of the ’80s, his net wealth would grow into the billions.
One step that Trump took that led to his fortune was becoming educated. After attending Fordham University for two years in the mid-1960s, he transferred to the Wharton School of the University of Pennsylvania, which, at the time, offered one of the few real estate studies departments in the United States.
The world is full of successful people who started much smaller than Trump, of course. They became educated and have become billionaires themselves — once thinking small but then thinking bigger as they achieved their goals.
We’re thinking of such prominent figures as Trump supporter Sheldon Adelson, who, as the son of a Boston cab driver, attended high school and some college and then went on to make a fortune in Las Vegas casinos and trade shows. Then there’s Ralph Lauren, fashion-designer extraordinaire, who did drop out of college to go into the Army Reserve but later worked as a clerk for Brooks Brothers before successfully designing popular ties and starting a company named Polo RL®. And finally, we present one Oprah Winfrey, who was born in poverty in Mississippi, won a scholarship to attend Tennessee State University and became a TV correspondent in Nashville and then Chicago, where she would engage in something called “The Oprah Winfrey Show.”
You, too, can think small and watch it grow into something big, by investing in real estate and becoming educated with the guidance of Jason Hartman and the Platinum Properties network of investors.
Hartman himself started with very little, but, while still in college at the age of 19, he embarked on a career in real estate. While brokering properties for clients, he was investing in his own portfolio along the way. Through creativity, persistence and hard work, he soon joined the ranks of the top one-percent of Realtors in the United States and became founder and CEO of the Platinum Properties Investor Network, The Hartman Media Company, and The Jason Hartman Foundation.
At thespeedofmoney.com, you’ll find such podcasts as “Think Small and Win Big.” There are many others there, and at jasonhartman.com as well, on such subjects as “Beware of the Stock Market,” which centers on the scam known as Wall Street; “How to Acquire Good Debt Assets,” which analyzes what types of real estate investments work well; and, “Packaged Commodities Investing.”
In the “Think Small and Win Big” podcast, Jason Hartman talks about small and concrete things that can be done right away to create the momentum that’s critical to accomplishing big things. Starting a small, personal business is one way — be that buying and selling on eBay, dog walking, website design, network marketing or teaching people how to use Facebook to make a business grow. Such small steps can generate $500 to $1,000 a month of personal income, Hartman notes, and that revenue can be used to pay down credit cards, save your home from foreclosure or start an investment program that leads to a successful financial future.
With just $5,000, Hartman adds, you can buy an excellent rental property in a great rental market with a positive cash flow from Day One. (Where can you find such properties? Why, at jasonhartman.com and Platinum Properties Investors Network, of course. Their podcasts show how you can start with a small amount of capital and get the bank to take most of the risk, how you can easily convince a complete stranger to pay off your loan by paying you rent, and how you can sit back and collect checks every month, just like a banker.)
There are many other resources that can educate you about the world of real estate as well, including realestate.com, which Hartman says offers many helpful tools. They include that website’s First-Time Home Buyers Guide, which offers novice property owners information on financial issues that are involved and explains the entire buying process, step by step. There’s also help at that website for veterans and their families via the Veterans Home Buyers Guide, which covers Veterans Administration home loans.
2) Enroll in Coaching Programs of Experienced Professionals, Including Such Folks as Jason Hartman and Others at the Platinum Properties Investor Network
Donald Trump was coached and counseled by his father, plus those who taught him the world of the estate at the Wharton school. If Jason Hartman were Darth Vader, he might say, “I am your father,” because he and the investors in the Platinum Properties network are well-versed in leading investors down the path of smart property investments.
At jasonhartman.com, you’ll find Platinum Properties Investors Network’s index of real estate properties across 11 states and 17 cities in the United States. The index is updated on a daily basis by Hartman’s coaching network of “local market specialists,” who live and work in each of the markets.
By browsing the properties listed at jasonhartman.com, you can find basic information about each property as well as return-on-investment (ROI) estimates and other financial figures that will aid you in your real estate search. When you are ready to invest, contact Platinum Properties and allow it to guide you “in a wise and beneficial way.”
“There are a handful of cities around the country that offer some exceptional opportunities for prudent investors,” Hartman says. “We see a lot of people making mistakes that could have been avoided with a little guidance. Do your homework, ask questions and have a trustworthy investment counselor.
“There are incredible opportunities in today’s marketplace where investors can buy far below the cost of construction or replacement.”
Jason Hartman’s holdings also include the Women Information Network (WIN) and its related podcasts, which he co-hosts with Elisabeth Embry, a successful real estate investor who is a member of Platinum Properties Investment counseling network out of Seattle.
Though not a Donald Trump fan herself, Elisabeth has said she is excited “about the tax promise” or breaks that the Republican administration is trying to get through Congress, meaning they will offer benefits to those in the world of real estate investing.
She also is excited about the Women Information Network podcasts, which she and Jason Hartman started co-hosting and launched just this spring.
With WIN, “We’re helping women win in investing and in life,” Elisabeth says. “The types of guests we have focused on strengths and strategies around career, corporate, entrepreneur, business, family, communication, health, wellness, longevity — there’s a wide variety of things. But there’s also the element of real estate investing, which is a cornerstone of the show.”
The WIN podcasts, co-produced by the Platinum Properties investment network, were just released in May and offer insightful information on such subjects as when it might be time to raise the rent, cash on cash return and building your own real estate team. (You can check out the first eight episodes on WIN’s iTunes channel.)
Another avenue through which to get counseling — once you’ve learned that investing in real estate is the way to go and you’ve started to invest more and more — is to get a real estate license yourself and learn from industry professionals. Jason Hartman and the Platinum Properties investments network strongly suggest that you become a real estate agent, but careers as mortgage and finance agents will put you in prime position to embark on a future of income-property investing as well.
The requirements to become a real estate agent vary from state to state, but generally, you need to be at least 18 years of age and spend a few hundred dollars to get a minimally required amount of classroom and online instruction hours, then take and pass your state exam. The number of credit hours required also varies from state to state: In Georgia, for example, 75 credit hours of classroom/online instruction are required before you can take the state exam, but in California, 135 credit hours of classroom/online instruction are required.
Obviously, part of your required research and early education is to Google “real estate license requirements for (my state),” or searching for requirements for mortgage or finance agents, and immediately start working hard toward that licensing goal while getting counseling from the pros.
3) Act Decisively on the Small Stuff, Such as Educating Yourself and Seeking Counseling From Pros, and Soon You’ll Be on Your Way to Bigger Things
Donald Trump started his hotel empire by buying the decaying Commodore Hotel in New York City and turning it into the Grand Hyatt with a construction loan. He then developed the Trump Tower and steadily added developments to his real estate portfolio in the 1980s and ’90s.
Those were smaller decisions along the Trump scheme of things, for sure, but for early real estate investors, starting small — but acting decisively on that small — is critical. As stated here earlier, buying and selling on eBay, dog walking and website design are small things you can accomplish to earn extra money right away as you work toward your goal of long-term investing, followed by educating yourself and seeking coaching or guidance from others before you invest.
Says Jason Hartman: “The critical mistake that people make when they are thinking big is to delay taking action while they’re looking for the big, get-rich-quick scheme or the home-run investment or waiting for their ship to come in. An extremely important point to consider is the power of taking action right now. Small actions are taken immediately and repeatedly lead to big things.
“When you think of something small that can be done right away, that action can grow into something big and powerful over time. Remember: Consistent, small action makes the difference for a successful life or an unsuccessful life, so let’s be successful with consistent, small actions … start with a decision that is in front of you right now and acts. Action eliminates doubt.”
Attention to what may not seem so significant can make a big difference in long-term returns, Hartman adds.
He cites a recent article and infographic from Visual Capitalist, which pointed out how very small tweaks to an investor’s mindset and strategies can yield more wealth. And that’s what Jason Hartman and the Platinum Properties Investors Network have been saying all along: Invest early, diversify your portfolio, minimize risks, and keep your expenses down.
“Though these four simple keys apply to investors of all kinds,” Hartman says, “they’re especially relevant in the world of real estate, where it’s all too easy to fall into believing myths about investing or get swept away by enticing deals and promises of big money fast.”