1896 FBF: Michael Thomsett - Real Estate Market Valuation and Analysis & The Landlord's Financial Tool Kit

Today's Flashback Friday is from episode 732, published last September 28, 2016. Jason's guest, Michael Thomsett has over 35-years as an Accountant and is an investor in the most tax-favored asset class in the U.S., income properties. Mr. Thomsett has written over 90 books. His book, The Landlord's Financial Toolkit will soon be printed as a second edition and re-named The Real Estate Investor's Financial Toolkit. During today's episode, he shares ten principles of real estate evaluations and unpacks each principle, so even those with a limited understanding of income property investing can follow along.   Key Takeaways: Jason's editorial: 1:42 Segmenting the real estate market is rarely done properly. 3:41 Make it a goal to live in a no income tax state as a wealth creation strategy. 6:57 Information on the next Meet the Masters, Hartman Education Special Bundles and available properties. Michael Thomsett Guest Interview: 12:12 The 9/10 Principles of Real Estate Evaluation. 13:20 Defining the Principles of Progression and Regression. 14:35 The Principle of Conformity is keeping the features of a property in line with others in the area. 15:37 The Principle of Substitution relates to the condition of the property. 16:11 The Principle of Change applies to the economy, demographics, employment, and other "fact of life" incidents. 17:12 The Evaluation Principle of anticipation is when expectations about future events affect the market value. 20:50 The Contribution Principle - If the improvement is worth more than the cost to make it. 22:12 Plottage or Growth Management should be consistent use of the surrounding lands. 24:52 Highest and Best Use - Real Estate evaluations are best when land is utilized in the best possible way. 26:39 The Competition Principle states an opportunity for a profitable investment leads to competition. 32:13 All the necessary tools for landlords are included in the second edition of Michael Thomsett's book.   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com