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Identity Theft, Wage Growth and the Future Of Interest Rates

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In this episode, Jason talks about the threat of identity theft and how it’s gotten worse over the past few years. Beyond just having credit card numbers stolen, identity theft has gotten much more sophisticated. Jason ends the show with a discussion on wage growth and what the Federal Reserve is saying about the economy and interest rates.

Announcer 0:02
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 0:53
Welcome Welcome. How are you today it is Episode 1050 510 Five, five, and this is your host, Jason Hartman. As always, I am here to talk to you about some important things in the economy in the investment world. And our emotional health. Well, guess what? Do you know? Do you know? The happiest place on earth? Yes, you probably have heard that slogan. And they claim it’s Disneyland. Yes, disneyland is supposed to be the happiest place on earth. But if you’re not talking about the whole earth, and you’re just talking about the United States of America, what is the happiest place in the Union in the United States? Well, according to our listener, Carmen, who you’ve heard on the show before, thank you, Carmen for sending this over to me. The happiest place in the Union, the happiest state in the Union. is the place you are all well, not all of you because that would never work.

Jason Hartman 2:08
But many of you, and some of you just registering today are joining us to go to this place in November, the happiest state in the union that is Hawaii, none other than Hawaii. Right. So congratulations, Hawaii, you are officially the happiest state in the union. And I’m sorry West Virginia, you were the least happy according to this article is a ranking by wallet hub. And we have had wallet hub on the show before. So there you go. happiest state in the union is Hawaii. Join us for our profits in paradise conference, a two day conference in Hawaii on Waikiki Beach, November 3 And fourth, and then you can join us for the venture Alliance mastermind retreat, following that with just a day off in between for travel hopping between the islands. You take a little plane, it’s about $75. And you go over to beautiful, kawaii. After that it will be an awesome time. So the happiest state in the union is Hawaii. Join us in November. For our very first event there. Yes, we have never had an event in Hawaii before. So I’ve talked to you many times about identity theft and how incredibly urgent it is that you take steps to protect your identity. Now remember, when most people think of identity theft, they simply think about, well, you know, someone stole my credit card number, someone stole a check, and tried to cash it or made fake checks with the same check numbers as my bank account and tried to cache it. This happened to me least one time that I’m aware of one of my businesses Someone ran into a bank tried to cash a $4,000 fake check. Maybe when the cleaning service was coming through our office, this was several years ago. I don’t know maybe someone in the cleaning service picked up a check. It made it up a couple hundred miles away to a branch there. So, yeah, this identity theft thing is a big deal. Why is this so critical? Well, number one, like I was saying, it’s not just about what we mostly Think of it as a check a credit card, financial identity theft, right. It’s also your medical records, your criminal record. Well, hopefully you don’t have a criminal record, right. But you might be confused with somebody who does, right. There was a story I was reading about few years back and it was about a pregnant woman who answered the door and was arrested. She didn’t do it, right. She wasn’t guilty. She was arrested falsely, because someone had used her identity in an arrest. And the police thought it was her right or they used her identity to commit a crime. Certainly, we’ve all seen a zillion movies where someone is framed for a crime they didn’t commit. That’s almost a cliche, right? It happens. It really does. But why is this whether it’s your medical records, your criminal record, your school records, your credentials, right? Maybe you have an advanced degree or just a bachelor’s degree. And that record can be used by somebody else who has assumed your identity. Do you know there’s a website you can go to? I went to it years ago, and there were like, 400 people with my exact name in the United States, right? That’s pretty scary because my name is not john doe or Bob Smith. Or you know, anything super common, right? It is not a super common name. But 400 people in the US have my name. Right. So and he, by the way, I’m friends with two of them on Facebook.

Jason Hartman 6:12
Isn’t that funny? Hey, Jason Hartman, how are you? Jason Hartman? Yeah, pretty funny, right? There’s even a realtor with my name. Right. So yeah, there’s a dentist, a realtor, a guy that works for Microsoft, a famous South African singer. outside of the country. There are many more people with my name, I’m sure. Now your name might be more or less popular than my name. I don’t know. But that’s a way identity can be confused. But here’s the thing. Here’s the thing. Look at folks. We’ve all done such a good job of protecting ourselves. We all got smarter, right? Everybody got smarter. They got an alarm on their car. They got an alarm on their house, and they are more suspicious when they’re watching. Down the street, people protect their wallet in their pocket. Women protect their purses. People protect their backpack and their briefcase, and we lock our doors and we lock our windows and we are careful. But guess what? The crooks have to go somewhere else. And why not go where it’s an easier more lucrative target, right? So check out this story. This is really, really important. I am telling you if you have not been a victim yet, and you probably have, but you just don’t know it, right? have either a financial identity theft, or some other form of identity theft, criminal records, medical records, credentials, academic credentials. There’s a host of identity theft categories, not just financial, as most people think. Right. Okay, so check this out. This is an article I’m looking at an unusually sophisticated credit card for Rod was linked to gangs. California investigators have accused some 30 people with stealing over $1 million. Okay. More than 30 people purported street gang members have been charged with stealing over a million bucks in what authorities said Monday was an unusually sophisticated credit card fraud scheme. Members associated with the bully boys and cocoa boys street gangs, okay, those are the names of the gangs right. in the suburbs of East San Francisco defrauded hundreds of victims by breaking into dozens of medical and dental offices. So they broke into the medical and dental offices to steal credit card terminals and patient records. Set Attorney General Xavier Becerra right and police chief’s in three cities, the 32 alleged gang members use the stolen terminals to process credit Card returns, downloading them to debit cards, according to a 240 count indictment. Now, here’s the key quote. And this is what one of the many Jason Hartman was just telling you a moment ago. It was this Jason Hartman go to bed another one, I don’t know. But this one, I think was the one telling you about this right? quote, it’s easier today and more rewarding today to engage in identity theft and financial fraud than it is to go out there on the street and commit physical violent crimes. That’s what the California Attorney General said. So, the crime has moved elsewhere right. Where there is supply there is demand where there is some factor that causes an offset. It goes somewhere else, right? So these criminals, instead of snatching a purse or pickpocketing a wallet, they’re doing more sophisticated, more lucrative stuff. And this identity theft is the new thing I know it’s not new, I get that it’s been happening for decades. I know that. But I’m telling you, folks, this is you got to have good passwords on your computers, you have got to be careful, this identity theft happens in a lot more ways than just financial. Now, in Europe, whenever I go to Europe, or really any place around the world, hey, I’ve been to 81 countries so far. This, Jason Hartman has, I don’t know about the others, I’m not sure.

Jason Hartman 10:45
The other 400 in the US and then the other, however many around the world, including that singer in South Africa who’s probably got a much better voice than I do. Okay? When they take your credit card, for example, if you’re at a restaurant, they come up to your table with a machine that is connected to the internet, right. And you know, if you’ve traveled abroad, you’ve seen this, they don’t take your credit card away. In the US, you put your credit card in the little thing. And the waiter comes along and takes it away and takes it in the back. And hopefully he doesn’t swipe your credit card numbers, or scan that magnet into one of those cheap little machines that you can buy online to steal someone’s credit card, not just the number, but the magnetic strip on the back. And I’m sure they are now they figured out a way to steal the information on the chip. Because most of us now have chip cards. It is very hard to catch these people. And it is very easy to get met these crimes. So if you’ve ever done a background check on yourself. For example, you might be surprised you’ll think that you have a doppelganger, right. Is that how you say it dopamine Anger. And someone is out there creating a story about you. And it may not be your story, right? Someone else is adding to your story or maybe subtracting from your story. I don’t know, identity theft, I’m telling you, this is the big crime, and it can affect your finances. It is a mega hassle. I have dealt with it at least five times, just on the financial side. And that’s only what I’m aware of. The question is, you can’t hear the dogs that don’t bark. Maybe I didn’t notice the dog barking. Right? Or maybe the dog didn’t bark at all. I don’t know what else has happened that I don’t know about, right. I don’t know what I don’t know. The same is true for all of us. So be watchful about this. Be vigilant. Pay attention to it. It’s a big big deal. Okay. By the way. If you need advice on how to manage passwords, look it up, search it online. And there are password manager programs you can get like LastPass. And there are many others. That’s just one of the big ones out there. Or you can remember them. And that ain’t easy when you have, you know, 400 or 700 different internet accounts, right? Because you can’t use the same password and all the places. But there are certain methodologies that people teach about how to make passwords, how to remember passwords, if you don’t use a password manager program, right? Because Hey, those could be hacked to, you never never know. All right, I recorded a short little clip that I want you to hear. And then I want to play a nother little clip about something else that I think is very important when we look at the future of the economy. And we think about what’s going to happen next. We’ll play that after This, but it’s just a little clip I recorded as part of an intro to a class on teaching online for our friend Pat Donahoe, who’s been on the show many times, he spoke at our meet the Masters event in January when we had Ron Paul, and a whole bunch of other big name speakers for our 20th anniversary meet the Masters event. 20th anniversary, I can’t believe it, how time flies when you’re having fun, right? So this was something I recorded for one of Pat’s events. And it’s an online summit, the cashflow Wealth Summit. It’s just a little different take than a different way that I usually say, some of the things you know, you’ve if you’re a regular listener, you’ve heard me say over the years, and I will play the clip, and then I will kind of give it away and well, let’s just listen to the clip first. Here we go. Hey, it’s Jason Hartman. I want to say welcome and I am very excited to talk to you today about some investing strategies, investing strategies that you can really depend on. Now, what can we depend on as investors? Well, we can depend on the fact that we will have cycles, things will change. And we can also depend on things will go wrong. You’ve heard that Murphy’s Law always shows up, right? It always shows up, and it always happens. And you know that the powers that be that run the government and the central banks around the world have a certain motivation they have a certain type of interest in what I believe we have to do as investors is we need to stop fighting those interests. We need to align our interest. We need to do the same thing they’re doing. We need to take a page out of their book. We need to follow their game plan so that our interests are aligned with the most powerful forces The human race has ever known. What are those most powerful forces the human race has ever known? Well, after God, they are governments and central banks, governments and central banks the most powerful forces the human race has ever known. Now, you know, it’s really interesting nowadays, with all the talk about cryptocurrencies, Bitcoin aetherium, Litecoin, all the rest, right? We’ve all heard it. We’ve looked at the radical radical ups and downs in that marketplace. We’ve seen those currencies, soar to amazing heights, and we’ve seen them fall like lead, right? We’ve seen people lose tons of money in the cryptocurrency world, and it’s interesting money. I mean, what is money, right? Money is different than currency. It’s an important distinction to understand and I know this is like going down the rabbit hole a little bit, but before we jump in, to what we can depend on And how to align our interests as investors. Let’s kind of just examine this just for a quick moment, money, at least I believe, and many throughout history, many academics have said this money is something with intrinsic value. It is something that is not dependent on another outside force. It has value to people automatically. That’s real money. And this is why you hear the gold bugs. You’d hear them talk like this gold is real money, right? They’ll say for the last 5000 years gold has been considered money. Right? Fair enough. Okay. I don’t believe that necessarily exactly the way they do. I’m not a gold bug. I believe that gold is extremely flawed as a form of money, but it’s a decent measuring stick at least until recently. It’s a decent measuring stick. So it’s important to watch gold and to understand gold and to know about it because it is a measuring stick. It is a measuring stick and no matter what Where you go around the world, people will value gold, right? They’ll also value silver. But what will they really value? Well, the utility of precious metals as money, that’s one utility right? And that might be some would argue that’s the ultimate utility. But also it has intrinsic value some precious metals do now gold isn’t used very much as an industrial metal anymore at all. Silver sure is platinum and palladium sure are catalytic converters, etc, etc. Right. So they have intrinsic value, not symbolic value. Gold has more symbolic value than intrinsic value nowadays, right? jewelry, you know, I there’s some uses, certainly, but but they’re not that extensive. But what really has us what really has totally intrinsic value that people around the world need. Well, you’ve heard the three things right. What do people need? They need food, clothing. And shelter, yes shelter. Well, I like shelter as an asset class. In fact, I believe it is the most historically proven asset class in the entire world. I say own and control that shelter and let other people rent it from you let other people rented from you. Very, very powerful force, you know, and pat Donahoe his new book, he talks about this, he talks about the power of alignment of interest and breaking away from the wall street game. You know, he’s got a chapter in here that talks about the myths and truths of insurance, saving, borrowing, investing and building wealth. Okay. Borrowing, interestingly, can be a very powerful tool for wealth creation, right. So we’ll go into that and we’ll talk about it as we align our interests with the most powerful forces the human race has ever known. Now, let’s look at the future. Read basic economic maladies. What are they? I mean, there’s all kinds of things that happen in the economy, right? We, we hear about this that the other thing there’s, you know, there are cycles, there are recessions, there are boom times and bust times. We all know that, right? But if you boil it down to just three basic concepts, three basic maladies that occur in the economy throughout history, they are simply inflation, deflation, and in the 70s back under the Jimmy Carter era, right if you study your history a little bit, or if you were alive and loop through it, you know about the misery index, right, you know, about stagnation. Okay, inflation, deflation, stagnation, the three basic economic maladies. I know there are lots of other things here and there, but I just want to boil it down to those three and as investors as we plan and if you are a business owner And if you’re, you know, your business is really just an investment, right? Just like your, your real estate portfolio or, you know your stocks or bonds or mutual funds, right? All of these different investments. How do these play in the three basic economic maladies? Now, why do I call the maladies? Well, because none of them are really good, right? They’re all bad things. But I would argue that one of those three things and maybe two at the same time or possibly even three at the same time, are happening at any given time in the economy. I don’t think there’s really any time where you don’t have at least one of these three basic economic maladies occurring. Okay. So let’s talk about aligning our interest and benefiting or at least surviving through these three basic economic maladies, inflation, deflation, stagnation. Alright, so I hope you would enjoy that and it kind explains my philosophy of investing, as you know, align our interest with the most powerful forces the human race has ever known. And you probably know what I’m going to teach in that class after that intro to it right? I’m going to talk about what one of my favorite things inflation induced debt destruction and inflation. Now after taking a bit of a breather for several years, is a legitimate, very legitimate concept now, so let’s listen to this video. This is the Boston Federal Reserve president Eric Rosengren. Okay, as he talks about what we can expect in the future, as I’ve said before, as Federal Reserve’s go right, at least in my adult life. I mean, I had Alan Greenspan for the vast majority of my adult life. Then we had a short stint with Ben Bernanke key because Greenspan handed over the reins. It just The right time to let someone else deal with the financial crisis. And then we have Janet Yellen. And now we’ve got our new Fed chair. Right, Powell. This fat I think is really one of the most transparent Federal Reserve’s that we’ve had. Just listen to this clip. It’s a CNBC clip, really interesting little interview, they kind of give away the future. It’s really not too terribly much of a mystery. It’s certainly a lot different than what we lived under for really decades. I don’t know how long was Greenspan Fed chair like 21 years, or maybe more than that? I can’t remember. And let’s listen to this because it’s not too hard to figure out unless they change their mind, which they’re always entitled to. Let’s listen in.

CNBC Interview 23:42
Actual, I would agree that the economy’s doing very well. We also expect growth to be around 3% unemployment rates already at 3.9%. We have the employment report this morning, and inflation is right at 2%. So we’re exactly where we want the economy to be right now.

CNBC Interview 23:57
I always go back, Eric and we get to do this at least once a 2%, of course, is the official

Jason Hartman 24:01
number. But the real number is obviously higher than that. And remember, there’s a difference between consumer inflation and the consumer price index. And the asset inflation, which is almost completely not counted in any of the stuff. I mean, it’s it’s sort of counted by reference, if you will, but it’s not counted directly in the consumer price index, or really any inflation measure except the Hartman one, because I talked about it quite a bit asset inflation and what that means to the future of people left out of the investor class.

CNBC Interview 24:40
And I go back and look at the old interview. We didn’t have the tax cuts back then we have them now. You thought we were at full employment at a higher rate than than we are right now. While you’ve upped your forecast to 3% for GDP, have you also upped your outlook for where rates ought to be the same? I’m sorry.

CNBC Interview 24:56
Well, I certainly think that we should continue the path of gradually increasing interest Right. So when we have an economy that’s already where we want it to be, there’s no reason to be accommodative. And we still have accommodative monetary policy. The only reason we shouldn’t move it up more quickly is because we don’t have that much inflationary pressure at this point. And partly, it’s a prevention to make sure that we don’t have more serious inflation going forward. We have the job.

Jason Hartman 25:22
So Wouldn’t that be great to be in his shoes and, and control the world? Well, we’re not going to be accommodative. He says, Why should we be accommodative meaning easy money, loose money, low interest rates, etc? That’s accommodative, right? That’s an accommodative monetary policy. And so they’re obviously concerned about inflation, and rates are increasing as a prevention to the inflation they see coming. And, you know, it’s probably quite valid. I don’t disagree

CNBC Interview 25:58
up at 830. Tell us how You will look at wage growth that would make give you concern about growing inflation.

CNBC Interview 26:06
First one report won’t get me concerned short, that we average over a much longer period of time. And we look at a wide variety of statistics. But I would say that wages have been going up gradually what hasn’t been moving up nearly as quickly as productivity. So if you have wages going up, slowly, but continuing to go up gradually and productivity isn’t going up, then you have a situation where you start having more inflationary pressure. Now, the most recent productivity report was a little bit better. Yeah. But if you take it over a longer period of time, productivity is still historically pretty for a long period of time. We’ve had wage

CNBC Interview 26:38
growth about 2.7%. year over year. Yep. I remember Janet Yellen, the former chair of the Federal Reserve, saying if we screw with inflation plus productivity in the three to 4% range, that would not be inflationary. So would you be concerned about wage growth, a percentage point higher than it is right now.

CNBC Interview 26:56
So I would be concerned if I expect Did that wage growth was going to continue to go up? So we have very tight labor markets, if we have growth going at around 3%, we’re probably going to have the unemployment rate continuing to go down. That means labor markets are going to continue to get tighter. We’re currently in an environment when I meet with business people, the leading question they ask is, what are we gonna do about getting more workers? How are we going to be able to take care of the problem of not finding sufficient workers without raising wages substantially?

Jason Hartman 27:27
So what he’s referring to at least my opinion of it, I in part, is he he’s talking about how there’s wage growth. Without productivity growth, that means just wages are going up. It’s not because the employer is getting more, they’re just giving raises. Right? And that’s because, you know, we’ve got such a tight labor market, right. And that’s definitely true. I mean, I find that to be true. We’ve been hiring people like crazy over the past month and a half, man, it’s hard to get Good talent, and that that talent is a lot more expensive than it used to be. I’ll tell you something in the real estate asset classes, the asset class that you can probably look to as a really good indicator of inflation and underlying inflationary pressure, I would say is the hotel business, because the hotel business can react very, very quickly to inflation. And I’ll just give you an example. We do quite a few events. We’ve been doing events for many, many years. For the past 14 years, we have done lots and lots of events. And before that, you know, when I was in the traditional real estate business, I did lots and lots of events. And so we’re renting hotel space and booking hotel rooms and negotiating room block discounts for our attendees at our events just like we have in Hawaii coming up. Our meet the Masters event was dramatically more expensive than that same event was just five years earlier. Our Hawaii events, incredibly expensive. Now granted, it’s Hawaii, hey, it’s the happiest place on earth. We’re the happiest state in the Union sorry. And it’s a beautiful place. And it’s paradise. And it’s expensive. We all know Hawaii is expensive. But to get good room rates, which we I thought we achieved that pretty well for for our guests at these events, hopefully, you’ll attend and join us and take advantage of our room block discounts. And to be able to have that conference be reasonably inexpensive based on the ballroom we need to rent and the different expenses we have in hosting everybody at these events. Prices have escalated dramatically, both in the the guest room, the sleeping room component, but also the convention room, the ballrooms that we have to rent to have these events. It’s much more expensive than it used to be. And so that’s a real indicator of inflation. So if there’s a lot of wage growth, and you know that classic definition of inflation, right, is too many dollars chasing a limited supply of goods and services that causes inflation, not exactly the academic definition, but the practical definition of inflation. So let’s keep listening.

CNBC Interview 30:20
Usually, what they tell me is that they’ve already been doing things that will increase costs, but don’t increase wages for the entire workforce. But they’re getting to the point now where they’re going to have to actually be increasing wages more substantially.

CNBC Interview 30:32
It’s not my employer talking to you about that.

CNBC Interview 30:36
Okay, so are you on board say for a couple more rate hikes this year? I mean, shouldn’t where you think we need to go? People have put that long run trend or the or the neutral rate in that two and a half to 3% range?

Jason Hartman 30:48
Listen closely real estate investors. This is about rate hikes.

CNBC Interview 30:54
Where you relative to that, so I think two and a half to 3%, right? It’s a range we don’t know precisely where it is. I’d probably be at the upper end of that range. And so we still have a ways to go. So I think gradually increasing over the course of this next year makes sense.

CNBC Interview 31:08
And I know the full answer to this is you’ll make up your mind when you need to. If you have to guess now, would you say you need to go restrictive on policy? Does policy need to go above the mixture? Right?

CNBC Interview 31:20
I guess is that if things work out well for the economy, and that’s what I expect and hope that we will be in a situation where we need to have a somewhat restrictive monetary policy over time.

Jason Hartman 31:31
Okay, so that means hold back on the money supply, tighten the purse strings, because there’s too many dollars out there chasing a limited supply of goods and services. This is the exact opposite of what we’ve had for so many years. Remember, we used to talk about QE all the time quantitative easing, aka money printing, money creation, it’s not really printed anymore that much. It’s mostly just electronic So now, we’re in the opposite side of this, right? We’re in a restrictive environment, environment that’s getting tighter. They’re tightening up the money supply. They’re raising interest rates. Now, it’s not just about interest rates, it’s about a lot of things. There’s a lot of different strings and levers that the central banks and we’re not just talking about the Federal Reserve that just happens to be the biggest one because the United States central bank, their central banks around the world, there’s the ECB, the European Central Bank, you know, there’s the Central Bank of Japan and all these all these different countries, right. So as we see this tightening going on, the question is, will they overdo it? Or will they under do it? And it’s very hard to tell because the reaction takes time to play out. And again, though, not just interest rates, I didn’t finish that thought there are a lot of different tools at their disposal. You know, they can adjust this discount rate. They can put all sorts of like, different restrictions on things. And you know, that’s a good comparison to the the mortgage environment. Right. And we’ve seen the mortgage environment getting looser over the years, it overcorrected. During the Great Recession, it’s still not back to the stupid kind of looseness, if you will, where people could get loans, you know, fog the mirror, get alone, one day out of prison one day out of bankruptcy, whatever, right? We don’t have that. But it is getting looser for sure. I mean, one of our listeners, Randy, who you’ve heard on the show, a few times years ago, he’s spoken a couple of our different events over the years. He just sent me an email today about no doc no qualifying, easy to get HELOC or home equity line of credit type loans. So there are signs of, of this loose, liberal dumb lending but they’re pretty small so far, this is not anything to become cerned about yet who knows the direction will go and we will see the bubbles are not in the mortgage world this time around the mortgage world’s been pretty darn conservative there in the auto financing world and the student loan world, the credit card world I’m not I’m not a, you know super knowledgeable person about credit card risk and how liberal they’ve been in credit card lending and so forth. But there are certainly some other areas where there’s definite cause for concern but it’s not in the mortgage market.

Jason Hartman 34:33
You know, there’s little blips of it here and there, but compared to last time, if nothing last time around, the stuff that caused the great recession was insanely ridiculously stupid, right? It really was. So anyway, hey, let’s wrap it up for today. Be sure to join us in Hawaii. Be sure to subscribe to our new property cast where you can get properties delivered via RSS feed to you an RSS stands for release. Simple Syndication, it’s most likely the way you’re listening to this podcast right now, through RSS, by the way that was invented many years ago by a VH. One vj. Yes. Or maybe MTV vj. I’m not sure. I can’t remember. But you know, instead of a DJ, a disc jockey, a video jockey, a vj, and he invented the RSS feed. So that’s how you’re listening now, but you can not only get our audio podcast that way, you can get property performance delivered to you and just watch all the people copy me on that everybody said it couldn’t be done. But at least this one 400 Jason Hartman in the United States and many others around the world. He knew it could be done. And he told all the naysayers, they had to do it. So guess what, take advantage of any podcast platform, just type in look for Jason Hartman property cast and you can subscribe to that please rate and review You in addition to subscribing to all of our different podcasts, and also take advantage of our Alexa skill if you have an Alexa device, on your phone or in your house or in your office or wherever you can get the Jason Hartman Real Estate update on your Alexa device. So take advantage of that. That’s all free. Just go to the Alexa store, I guess it’s called and for your Amazon Echo and enable that skill Jason Hartman Real Estate update. Okay, hey, we will talk to you on the next episode. And we will look forward to seeing you all in Hawaii coming up not too far away, the happiest state in the union. Until then, happy investing. 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 A 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.