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Black Swan Event Coronavirus and the Florida Market with Jeff Twigg

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Jason is joined by Gary Halmbacher who is in Shenzhen, China during the Black Swan Event Coronavirus. Gary gives his experiences inside China during the pandemic. Jason is joined by Florida realtor, Jeff Twigg. In the second segment of the podcast the two discuss Dan Amerman’s workshop and predictions.

Investor 0:00
So we got interested in and around early 2016. I knew that real estate investing was something I wanted to do. And I just didn’t know where to start. I had no clue. My story is my friend Tom, who’s here at the event as well. actually recommended I go look at Jason Hartman. So I spent about 30 days listening to the podcasts of Jason Hartman show and then I got in touch with Sarah, a month after I started and we bought our first property a couple months after I started listening to podcasts in 2016. So fast forward, we’ve just been coming to events every six months or so we go to meet the Masters we never miss. We get something new and life changing really literally every time we come.

Announcer 0:45
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 1:35
Welcome to Episode 1407. This is a black swan event on the scene. Nicholas Taleb is a fantastic author. I’ve talked to you about his books over the years. And of course, he wrote a book entitled The Black Swan and has publicized and promulgated this idea that the financial markets or any part of life really occasionally see something that is very totally unexpected and has severe impact. And I think we are going through something that is would absolutely qualify as a black swan event. Of course I’m talking about kovat 19, the corona virus. And if you look at the markets, they are just plummeting. The s&p was halted after plunging 7% right after opening today. absolutely crazy stuff going on. My good friend Gary humbucker. He lives in Shenzhen, China, and he has lived there for many years. We met maybe 15 years ago in Newport Beach, California, at the coffee shop, and, and we used to have these tremendous multi hour long coffee shop meetings, Gary and Patrick and Rob and a few other friends. Since Gary lives in China. I wanted to give you a report. He’s been on the show before and he and he’s very attuned to the news and the economy. He’s very interested in economics and investing and so forth. And I wanted to just invite him On just to give a report as to what is going on in China. Gary, thank you so much for joining us. What is happening over there?

Gary 3:08
Hi, Jason. Good morning to you good night to me. As you said I live in Shenzhen, China, which is the far southern tip of China I border Hong Kong. And I started watching this virus it kind of caught my attention about mid January. And and just really quickly, I know we have a short intro, everybody is thinking about Spring Festival which is Chinese New Year. So imagine Christmas, New Year’s and Fourth of July all rolled into one and then Spring Festival, and my workers actually picked up on it before me. And of course, it took off. And all of February was a nail biter. I, my wife and I have been self quarantine since January 25. So that’s coming up on six weeks, only in the last few days. Have Have we actually gone outside for something more than just the basic essentials?

Jason Hartman 4:07
So Gary you’re going outside for the basics you know food shopping whatever. But what’s happening there when you go on the the mass transit? Are there people using the system? Are there people in the shopping malls give us an idea as to the traffic. I’ve seen videos of just empty streets and empty sidewalks where you know, I was in China last year, as you know, and it was packed everywhere you look just just packed with people give us an idea as to what’s going on like that. In terms of foot traffic, I

Gary 4:36
can tell you those videos are accurate. I have a number of still photos. And generally the day or two after spring festival, nobody is out anyways, but that that total abandonment of both people you know pedestrian and auto traffic was real. I have some pictures where there might be one or two pictures in the frame of view and we would be the Only people out. Everybody has masks on. My wife and I typically wear safety glasses because the virus can enter through the eye, and everything was closed. But food markets, I would like to emphasize I don’t know what was going on. And then I’ve got one friend, who I’ve kind of been trying to get ahold of. He’s actually in Virginia right now at university, but he lived in Taiwan. But I can tell you, in our immediate area here, food was plentiful. Food was never a problem. The markets in fact, were overflowing. My guess is the reason why is a lot of local restaurants would have bought their food from the market. And they were all closed. So we never had a problem with food.

Jason Hartman 5:46
So in terms of supply chains, the whole world is so interconnected in terms of supply chains, and so forth, obviously, China, the workshop of the world, we could talk about the economy for three, you know, eight hours, easily But just a couple of sound bites on your thought. In terms of the economy, the financial markets are just collapsing. The Fed made an emergency rate cut last week, and money is free real estate investors are foaming at the mouth, and I agree with them. But there’s a lot more to this than that

Gary 6:19
again for us here. I’m fairly financially well off. You got me started on real estate. That’s probably another show we could do. I’m sitting in very large cash positions. My office has been closed since January 22, or 23rd, which would be normal, however, was supposed to open up February one

Jason Hartman 6:41
now that was because of the Chinese holiday, right?

Gary 6:43
Correct. Okay, the office would have been closed about two weeks anyway, China would not have gotten rolling again until about the middle of February because, as you probably heard, everybody travels during that time, and it has to be staggered out. There’s just too Many people with too much money and imagine trying to move significant portions of 1.4 billion people in two weeks. So there’s about a three to four week period where things slow down almost to a stop and do not normally get back to normal until this year, Chinese New Year being early, they would have gotten moving about mid February. So we’ve really had about three weeks of abnormally low activity.

Jason Hartman 7:29
Okay, so Gary, we want to have you back to talk about the economy, broader economy. There’s a lot to this there’s a lot of supply chain issues to discuss and a lot of unknowns we really don’t know but just sum it up all up anything else you want to say about anything about real estate, the economy, just what’s going on in China in general, and we’ll have you back

Gary 7:50
here as bad as it gotten. Remember shins in is a way for Moo Hyun Woo Han was the center the whole rest of the country was more or less unaffected. But through the whole process, all of my workers and myself we were all self isolating self quarantining about a week before the government had said nobody needed to tell us anything. We were already self quarantining. We’re already wearing masks. We have our indoor clothes, our outdoor clothes. After we go outside, we come in and leave our indoor clothes in the vestibule area. We take a shower.

Jason Hartman 8:27
You mean your outdoor clothes? Yeah. When you plan

Gary 8:30
your clothes by the door. We come in, we take a shower, any packages we bring in gets sprayed down with alcohol. Alcohol was in short supply just temporarily. China makes everything they make 97% of American antibiotics, which is another show but the lights never went off. The water never stopped working. The toilet never stopped flushing. The Internet never dropped. Our mobile phones always work and there was Loads of food and all the markets. So the supply chain that

Jason Hartman 9:05
just isn’t good is in good shape fair, huh? Yeah.

Gary 9:08
The The only thing I haven’t been able to find is we seem to have a shortage of American bacon and um, the you know, they’ve had other you know, there have been no other than us staying in. There have been no shortage of anything in Shenzhen where we live.

Jason Hartman 9:26
Yeah, good, good stuff. Good to know. Well, Gary, thanks for the report. Be well be safe. And we’ll have you back on to talk about the economic impacts and other impacts another time. Thank you so much.

Gary 9:38
Great. Thank you, Jason.

Jason Hartman 9:41
So I wanted to have one of our venture Alliance mastermind members and clients on the show here, he attended a small workshop by one of our frequent podcast guests, and that’s Dan Ammerman, and he’s back from that and we are in Sarasota, Florida, where I’ve been attending a Rather cheesy real estate conference, and Jeff came to rescue me. So, here is Jeff twig, we’re going to talk about a few predictions that might be very important to you as real estate investors. Jeff is a real estate agent broker and has a team here in Sarasota, Florida, and is in the brokerage side of the business as I used to be the traditional side. And let’s talk about some of these predictions from our multi time guest, Dan Ammerman. Jeff, welcome. How you doing? I’m doing real well. Thanks for having me, Jason. Yeah, it’s good to have you. So tell us a little bit about your background first, and then we’ll jump into some of these predictions.

Jeff Twigg 10:37
Yeah, sure. So I was born in Wisconsin moved here when to Sarasota, Florida. When I was young, my grandparents were in the real estate business. My father was in the brokerage side of the business. And so I grew up with around that.

Jason Hartman 10:50
So you’ve been around real estate for a long time, huh? I have. I have, and you joined the venture Alliance just over a year ago. Right at our last meet the Masters conference right after you Meet

Jeff Twigg 11:00
the master. Yeah, absolutely

Jason Hartman 11:00
good. And tell us about what you do here, what kind of properties you sell. And just a little bit about your business, if you would,

Jeff Twigg 11:07
yeah, sure. So I help people buy and sell homes. I primarily work with sellers on the listing side. I have agents to help out on the buy side. And then I look for income properties on the side.

Jason Hartman 11:20
Good stuff. And after our last venture Alliance meeting or retreat in Savannah, you tried to dabble in the tax lien stuff, right. And you were surprised that the auction you were bidding on, you got beat out by someone who is willing to take a rather low return that surprised you, right? That’ll tie in with our talking about negative interest rates and everything else. So I thought it was relevant.

Jeff Twigg 11:43
Yeah, that really surprised me. It must have been an institutional investor and investor came in and I was bidding low. It started at 18%. And it’s a bid down here in the state of Florida. Somebody came in and bid point two 5% on all

Jason Hartman 11:58
routes, very interesting. So, it is surprising to me that an investor would take such a low yield any speculation about that?

Jeff Twigg 12:09
It’s surprising to me to operate at a net loss. It is surprising to me. Yeah.

Jason Hartman 12:14
It should be surprising to anybody. That’s not the goal of this show. Our goal is to make a profit, right profit. Definitely. Okay, so, Dan Ammerman, you finished his workshop. There were just four of you there. Right now. He’s been on the show many times. I took the same workshop you took about 12 years ago, actually in Newport Beach, California. And tell us a little bit about it. Ammerman is not too fond to making predictions, but he made a few

Jeff Twigg 12:42
Yeah, it was a good workshop. Ammerman is a financial artist, I believe is his what he’s going to hammer and I use it. He really is. He’s complex. He’s high level. But he made three predictions at this workshop. And I’ve been following him for four years and I have never heard him make a prediction before. So that was exciting.

Jason Hartman 12:59
So drumroll please. Let’s get the first prediction. Yeah. And by the way, folks, we are sitting outside at a Starbucks on a gorgeous Sarasota, Florida day. It’s a little cooler and chilly. But Wow, it is absolutely beautiful outside. So you may hear some background noise. So we just want to let you know where we were located. But go ahead.

Jeff Twigg 13:21
So Dan’s predictions which he stated off the record, the government will make number one mandatory that retirement and savings accounts will have to hold treasuries, maybe between 10 to 30%. Treasuries,

Jason Hartman 13:37
okay, so this was probably one of the more fascinating predictions I thought. And so Jeff savings accounts. When when you first told me that I thought it was just retirement accounts.

Jeff Twigg 13:50
I think it’s the HSA Health Savings Account. Okay, got it. Got

Jason Hartman 13:53
it. Okay. I’m talking about money and retirement accounts. Got it. So what’s interesting about that, one is think about In the government, one of their products is treasury bills. That’s a product they create. And it finances government spending. So if the government wants to keep spending in order to buy votes and pander to certain special interest groups, then hey, why not just have a crisis? Maybe we’re in one. Now, we don’t know yet. Nobody ever knows. Oh, you know, maybe they engineer it, or maybe they just stand by and witness it. And then they need to step in and pass a new law to protect everybody’s retirement to protect their savings. And they say, hey, look it the best protection you can have is treasury bills. Those ust bills are a pretty safe bet. Aren’t they

Jeff Twigg 14:48
risk free and in the best interest of us to protect us? Absolutely. So

Jason Hartman 14:53
given that, why not create a whole bunch of new customers to buy your treasury bills, What a Neil he doesn’t plan? Yeah, I mean, when you can make the laws, that’s a pretty handy position to be in, isn’t it? Absolutely. Yeah. Yeah, absolutely. So that, to me, is a sign of more inflation coming, because it allows the government to spend more liberally. Notice that over the years, we’ve talked about how these Treasury auctions have sometimes not been very successful. And, you know, a big part of it is getting foreign buyers to buy, especially foreign countries and then buyers, you know, they can be individual investors or institutional, whatever, to buy our T bills, and that props up our economy. Okay. But if we can just force the American citizens to take trillions of dollars and immediately overnight, buy more treasury bills, we got a new market, don’t we? We do.

Jeff Twigg 15:55
And all they need to do is break in and then they can get incremental incrementally step it up when they need more money. Yeah.

Jason Hartman 16:03
Wow. That’s that’s a fantastic deal for the government. Okay, so what’s the next prediction he made?

Jeff Twigg 16:08
The next prediction he made was that the Roth IRA is going to have changes, and it’s likely that it may go away.

Jason Hartman 16:18
Yeah. Now, this is one that does not surprise me, because I never converted my IRA to a Roth. And the reason is, I just don’t trust the government. And I thought that you want to try and avoid. And that was an armored car going by, with the odd money going to get Treasury? Yeah, exactly. That was funny. So you want to try and avoid, to whatever extent possible, living under a government that is broke and hungry. And that’s one of the reasons I really was fearful of the California government, because few governments are more broken hungry than California. And I see saw the price of speeding tickets go up and I haven’t had a ticket. Gosh since 1997 I don’t think. But um, I remember a taxi driver, I was riding in his car and he was telling me he got a speeding ticket. And with like a late fee, it was like $1,000 I couldn’t believe it. And they use the police as the modern day tax collector. They use government agencies to go out and find people and find businesses to charge them fines the the Air Quality Management District, which is not exactly a governmental agency, they make their money finding businesses, okay in California for not having enough carpool spots in their parking lot, and not making it difficult enough. For people that are driving solo to work to park they got to make it really difficult for them to make it their parking space very far away. And if the companies don’t obey this, they find them okay. So these are all you know, whether you’ve got the power of the government or directly or like you’re deputized by the government by like the aq MD, right? You’ve got a government situation where they are hungry for money, and they’re going to use whatever means possible to get it from you. Okay? So on this level, and this is a federal government level, okay. So you know, you, the US is a great country, and you probably want to live there as I do. And I’m a big fan of living in the States. But if you can be in a state, at least, that’s not broke and starving and using its powers to take your money. Okay. So that’s one part of it. With the Roth IRA, I always thought that was low hanging fruit for the government because you got all these accounts where people paid the tax to convert from a traditional IRA to a Roth. And then they can just come along and change the rules and say, Hey, we’re sorry. We need the money, or some other excuse. This now is going to be treated Just like a traditional IRA, or we’re not going to allow any more of them. I don’t know why they wouldn’t allow any more of them, though, because they do have the advantage of collecting tax today. So that’s probably going to be like a retroactive thing. I’m guessing. Did he

Jeff Twigg 19:14
elaborate on that? He gave some more specifics. He speculated around moving the changing the age, and just making you have to hold on to it for longer, right. And then what you hold in that Roth IRA? Yeah. And so

Jason Hartman 19:28
so they might have a separate tax rate that’s maybe lower for Roth people, and they probably won’t call it a tax like an income tax. Like when you take distributions from your traditional IRA. They’ll just call it some sort of fee distribution fee or something and it’s really just a tax. But yeah, I just never trusted that. I thought, I thought the government’s going to get their hands in there somewhere and other

Jeff Twigg 19:51
he Ammerman made it clear that they will market it to be in the best interest of the public, of course, All right. And I will say the core concept of the workshop was based around the national debt that nobody seems to be talking about, and how that plays into other infrastructure. So

Jason Hartman 20:11
now when you say the national debt, nobody seems to be talking about are you just talking about the traditional national debt? That seems like a lot of people are talking about, or is this more of a phantom national debt?

Jeff Twigg 20:22
No, it’s the real national debt. I read the Wall Street Journal on a daily basis. It’s not grabbing headlines. Well, right now with the coronavirus, not it’s not grabbing headlines, but

Jason Hartman 20:32
I don’t expand crowded out by other headlines,

Jeff Twigg 20:35
you know, in the political primaries that are recently you know, nobody brought it out. Nobody brought up this grown and the FOMC has a you know, that the Congressional Budget out the next 10 years over a trillion deficit in addition to where we are right now. Oh, so,

Jason Hartman 20:51
and that’s, that’s with our current administration, probably. But if, if we get a democrat right, we’re going to be looking at an additional Four to $5 trillion added to the deficit. Right? That’s going to be unbelievable. I mean, that’s going to be so crippling, but not for investors. It means inflation. So that’ll be great for investors following our plan, right?

Jeff Twigg 21:14
I heard 40 trillion in 10 years with Bernie Sanders.

Jason Hartman 21:17
Oh my god. It’s in karate. Right. Right is on. Wow. So the last predict basically a doubling of the deficit or the debt. That’s the data. Yeah. On top of their current Yeah. Well, why wouldn’t it be just do the math, four years in office and 5 trillion a year is 20 trillion more. So there you go. Yeah, that’s easy, easy math. That would happen very easily.

Jeff Twigg 21:41
Yeah, go ahead. So the the third prediction he made was that the government would introduce means testing for Social Security. So before when you go to apply for Social Security, they’re going to want to collect a complete detailed financial picture of your current standards to make a determination if you’re going to qualify. for Social Security benefits that you’ve already paid into,

Jason Hartman 22:03
so Bernie Madoff, not Sanders. Bernie Madoff said that he got the idea for his Ponzi scheme from the US Social Security system. And you’ve paid into this, right? You’ve paid into it, you deserve money back. If you became successful, wildly successful, you should get your money back. Just like if you paid into an annuity or a savings account. You know, if you were on a savings program, where you discipline yourself to save extra money each month and auto deposited into your savings account, you should get that back. But now, you’ve got to be needy, to get the money. And not only that, you have to apply and provide a detailed financial picture to qualify for Social Security. That’s what he’s predicting. Right.

Jeff Twigg 22:53
That sucks disincentivizing becoming successful.

Jason Hartman 22:56
Yeah, right. Yeah. Yeah. Right. So you don’t want to be successful because then you know Not gonna get anything. Okay, which is already the way we have it in a lot of ways. So that’s quite interesting. Any other sort of broad takeaways or specific ones, Jeff? You know, there’s tons of graphs and charts in this book we’re looking at here together. It’s sort of hard to share them necessarily with the audience, but just whatever else you want to mention.

Jeff Twigg 23:19
Yeah, sure. So when I go to a workshop like this, I’m a real estate, I’m a real estate investor. That is how my mind is thinking while he’s going through the details of this presentation. And one big takeaway that I that I got and Dan Ammerman calls it an asset liability management strategy in a lm

Jason Hartman 23:38
Yes, a lm and this is our strategy. This assumes, right yeah, so it’s great.

Jeff Twigg 23:41
It’s called something different, but it is we did a test case of 20% inflation and he did all the numbers all the graphs 20% inflation 50% asset deflation, we checked all the investment classes, multiple combinations of investment classes.

Jason Hartman 23:59
Let me just comment on that. So, what that means, I think is that there was consumer price inflation, but the assets are deflating in that example. Okay. So, what that means is that all the prices of your cost of living go up, but say real estate stocks, precious metals, assets, bonds, they deflate in value right. So, it declined by a recession or depression level type of thing. So, give us those numbers again, if you would, and then tell us how it all worked out.

Jeff Twigg 24:31
Sure. So we have inflation, consumer price inflation of 20%. So Ouch, right, right. And then asset deflation of 50%. So your current asset value which again cut it in

Jeff Twigg 24:45

Jeff Twigg 24:46
right. So that is the scenario, the environment, the investing environment landscape of the model,

Jason Hartman 24:52
okay, so now No, this is not a prediction. This is just an example he used show how the asset liability management, right? The pa lm the LM performs if the worst happens, right. Okay, so the worst has happened. But since you’ve got inflation induced debt destruction in here, I’m guessing and I don’t know what you’re going to say. This is gonna work out, at least to mitigate losses, right? Or how’s it worked out?

Jeff Twigg 25:21
Yeah. So, it works out in year one. So in all the other asset classes, catastrophic losses in year one with the LM asset liability management strategy, they have a negative point 5% real return without cash flows.

Jason Hartman 25:39
So this is on income property on income property,

Jeff Twigg 25:41
your 120 percent inflation 50% asset deflation and still a real return on your one

Jason Hartman 25:49
just a very slight return but it’s positive but it’s positive and everything else in the world every other asset class is naked, every catastrophic Yeah, negative 50% decline

Jeff Twigg 25:59
and Okay, the LM strategy recovers, it continues to rise from there, so you never actually lose any money. So if you can imagine the environment 20% inflation, your assets are

Jason Hartman 26:12
the values cut in half, and the cost of living is rising fast. Right.

Jeff Twigg 26:15
Right. So you’re losing everywhere else. But with this strategy, basically, you cannot lose.

Jason Hartman 26:21
Okay, so that’s because we’re paying the debt on the property back, the property’s got to be leveraged for that to work, right.

Jeff Twigg 26:27

Jason Hartman 26:28
So asset you have that the property liability, which is another asset, which is more which is the mortgage but it’s really an asset in our world, right. But yes, most people call it a liability.

Jeff Twigg 26:38
Right. And what Dameron does in this the management part is you manage the asset with the liability. This is what the largest institutions who he used to work for. That’s how they evaluate expression.

Jason Hartman 26:49
Yeah. So Dan is a Chartered Financial Analyst, and his strategy of turning inflation into wealth has been he does a good job. Bob, creating examples about this and articulating it because that’s really using that inflation induce debt destruction to our benefit. I mean, think about it, everybody, this isn’t hard to figure out. You don’t need to do any real math here. Okay? If any asset in the world say that you’ve just got a totally diversified portfolio, you’ve got precious metals, you’ve got stocks, you’ve got bonds, you’ve got real estate, you’ve got everything, every asset out there, right. And those assets depreciate by 50%. None of those other assets except your income property have debt against them. They none of them have a super cheap mortgage, that benefits from inflation induced dead destruction. So what he calls this is the liability driven inflation arbitrage. Isn’t that interesting? I call it the double inflation arbitrage. And I’ve been saying that for 16 years now, before I even knew Dan was that’s that’s If anybody calls that you just slip the paper to me, liability driven inflation arbitrage I love it. Or as Hartman would say, the double inflation arbitrage.

Jeff Twigg 28:10
So Ehrman said this is the only option that we have as individuals to use the same strategies that the institutions

Jason Hartman 28:20
and the institutions use them because they’re using the same principles. We’re using the principles of self liquidating debt, the principles of the double inflation arbitrage or what does he call it? a liability? Sorry, folks. We got notes out here and it’s a little windy and the liability driven inflation arbitrage Yeah, okay. I like I think mine’s easier. Double inflation arbitrage This is easier. So yeah, good stuff, any other takeaways or impressions and let’s wrap it up.

Jeff Twigg 28:49
Just that we’re in good hands. You know, I spoke with a couple other guys at the workshop when we were having lunch and had coffee afterwards. And I asked them are you guys feeling like I’m feeling On rush, you want to rush out and acquire more income properties, more debt

Jeff Twigg 29:03
more, I want to take on more debt.

Jeff Twigg 29:06
But the other attendees, they were talking about gold, they were talking about stocks. And that was just fascinating to me and it but it told me that we just need to continue to stay the course.

Jason Hartman 29:17
So one guy, you did mention a couple of the attendees to me, one guy had a company sold for around $50 million. And he came because he said he didn’t want to pay a money manager. He just wants to learn it himself and figure out how to manage his his wealth. But another one you told me I think was a retiree, I believe, who purchased a property in one of our markets, Cape Coral, Florida, okay. And he had a bunch of assets and I he said the property did the best I think of all right, tell us about that.

Jeff Twigg 29:47
Yeah, so he had bought this property in Cape Coral in 2012. And he planned to buy it or rent it for a few years, then I’ll retire there. And when he retired, and they reviewed it His assets he had had a grandchild. And so he had planned not to move down to Cape Coral. But it was his top performing asset. Right. And so

Jason Hartman 30:08
and did he have a bunch of other assets like a diversified asset base? What he has

Jeff Twigg 30:12
everything gold stocks, bonds, I mean, he seemed to dabble in everything, everything in everything. And this was by far the most superior investment return that he was receiving.

Jason Hartman 30:23
That’s fantastic. Hey, like we said at the beginning, you were at our venture Alliance retreat in Savannah, Georgia, you got interested in the tax sale world. And you just took that course you bought that course that we were emailing about. I didn’t know this till today. Yeah. Tell us about that a little bit.

Jeff Twigg 30:39
Yes, I listened to the webinar. And one of the first things that was announced is this is a business, to qualifications. You need to want to help people and you need to want to make money. So I was immediately drawn in by that. And then I learned that you could be completely mobile, and basically help the regular general public get money that’s owed for them, that the government Trying to keep it and so

Jason Hartman 31:01
so you can do a good deed for the person. But you also get to stick it to the man. Yeah. Government’s holding on this money. Right. And and you can have a mobile lifestyle

Jeff Twigg 31:10
and there’s no income cap. So that was important to us. And

Jason Hartman 31:14
it’s just you and your wife no kids, right? Right. Right. So so you could be mobile. Yeah. And right now you don’t have a mobile business. Right. Right now you’re geographically in traditional real estate. I felt the same way. And I just wanted to move I wanted to get out of California for so many years, right. I had that took me a long time to make my life a little more portable. So I could do that. And

Jeff Twigg 31:33
it’s tough to go to a new market and start that business. Relationship business like that just takes too long, too long, too much effort, right.

Jason Hartman 31:39
But the thing I like about that that tax sale business, is that you don’t really spend any real money on it necessarily. You don’t have to, I mean, just nominal minor amounts of money. The only thing you can really lose is the cost of the course. And you know, maybe some nominal filing fees or you mailing fees and your time. That’s it. So the risk is just your time, but with your time you always learn stuff to write. So

Jeff Twigg 32:08
yeah, I look, even if you take a course and you spend the money just to learn that it’s not the right thing for you, then you’ve just bought that future time for yourself to do something that is right for you. You’re gonna have to learn anything new.

Jason Hartman 32:20
Yeah, no, definitely true about that. Hey, Jeff, do you want to give out your website or anything or if people are looking for Sarasota area properties or looking to sell properties in Sarasota? Jeff is your guy

Jeff Twigg 32:31
you can find me at Jeff twig homes calm. That’s je ff TWI gg homes.com.

Jason Hartman 32:39
Hey, Jeff, thanks for joining us, and we’ll see you at the next venture Alliance event or meet the masters. Everything’s kind of on hold right now given what’s going on in the world. But hopefully this will be passed us in a couple of months. And of course, we’re talking about Cova 19, folks, and hopefully life will get back to normal pretty soon. Thanks for joining us.

Jeff Twigg 32:58
Thank you, Jason. It was a real pleasure and Thanks for all the guidance you provide for me and other investments.

Jason Hartman 33:03
Thank you and happy investing. We’ll talk to you all tomorrow. 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 Hartman. Mediacom for appropriate disclaimers and Terms of Service. Remember that guest opinions are their own. And if you require specific 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.