218: Pandemic Economics and the Remote Management Revolution, IIDD Profits, Guest Drew Baker
Young Wealth by The Jason Hartman Foundation
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Show Notes
Jason Hartman discusses the economic "hibernation" triggered by the COVID-19 pandemic, highlighting the Federal Reserve's decision to drop interest rates to zero. He argues that residential real estate remains a stable "center of the universe" while predicting a massive inflationary wave due to government bailouts and currency creation. The program also features guest Drew Baker, who shares practical advice on remote self-management of rental properties using digital tools like Buildium and Hello Sign. Baker emphasizes that maintaining personal relationships with tenants can lead to better property care and long-term lease renewals. Together, they explore how the global crisis is shifting work habits toward the home and creating a unique environment for "pandemic investing."
Key Takeaways:
2:51 The economy of planet Earth is going into hibernation mode
4:08 "Buy on fear, sell on greed." -Warren Buffet
6:28 How do you recover from a couple of months sliced out of an annual GDP?
8:15 Exploring best/worst-case hypotheticals
12:05 Supply/demand shock
14:00 Inflation Induced Debt Destruction profits to come
17:30 Drew Baker
18:43 Buildium vs Property Tracker
23:00 A better quality tenant can make for an easier self-management experience, a lower quality tenant makes the property manager a little more needed
27:00 A great tenant goes a long way
32:00 Coronavirus, a baby-boomer bomb
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