Take a look at our newsletter this month.
& STRIPES
HEARTLAND INVESTMEN T COMPANIES STARS
JUNE 2020
AN.COM
DARINGARM 319-350-5378
MY BEST AND WORST FISHING TRIPS
CANNED CORN, NAUSEA, AND TEENAGE FRONTIERSMEN
A lot of crazy things are going on in the world right now, but through it all, one thing remains the same: The fish only bite if they want to. The idiosyncrasies of fishing have been on my mind ever since I learned that National Go Fishing Day falls this month on June 18. I haven’t been fishing in a while, but now I’m itching to get back out there and cast my line, even though in the past I’ve had a rocky relationship with the pastime. Looking back, my most vivid fishing memory is definitely my worst one. I grew up fishing for carp using canned corn as bait, and by the time I was a football-playing senior in college, I considered myself a tough guy and a pretty good fisherman. So, when my buddy Derek called me up and invited me out to Ohio for a combination training and fishing trip that summer, I thought the idea sounded awesome. I jumped on a plane without so much as checking the weather. Derek played football for Ohio State, and when I got to Columbus, I found out that some boosters had provided a big boat for the two of us and four other football players to use for our fishing trip. It was a beautiful day when we climbed on board to go walleye fishing. There were some old-time fishermen with us, too, who knew Lake Erie like the backs of their wrinkled hands. I remember thinking it was going to be a day for the books. Well, I was right — in the worst possible way. Everything was going great at first, but we weren’t out there an hour before the weather turned, just as quickly and dramatically as you see in the movies. First, the wind kicked
up, then the clouds rolled in, and before we knew it, we were in the eye of a storm. We were way, way out in the middle of the lake in the pouring rain, and our boat was bobbing up and down big time. I thought we should probably hightail it to shore, but the old lake men wouldn’t do it. “This is the best fishing weather we could have!” they said, adding, “Now we’ll catch the real fish!” Well, I held out for about an hour before I had to sit down, then lie down. The motion of the boat was churning my insides like butter, but I was doing all I could not to be the weak one of the bunch and hack over the gunwale. I didn’t make it. Pretty soon I was hurling, and of course, the other football players were poking fun at me, the one Iowa guy who couldn’t hold it in. We must have stayed out there for another two or three hours while I lost my lunch before the old-timers finally agreed to bring the boat in. Needless to say, I didn’t catch a single walleye. As absolutely awful as that trip was, it wasn’t bad enough to make me quit fishing. Honestly, I think I had too many happy memories from my childhood. Back when I was a teenager, before cell phones or video games, there was a summer when my friends and I got totally hooked on fishing (pun intended). For weeks, we’d go out each morning, set up camp, fish all day, and stay out through the night. We ate what we caught and slept in a tent by the river like real frontiersmen. On one of those days, I caught 11 fish in 24 hours, which is pretty good if you’re just sitting on a riverbank throwing your line out. The older I get, the less frequent my fishing trips have become, but I still fish up at our lake house in the summer. Now that June is here, my fishing season is finally starting. With any luck, I’ll make it to the lake on June 19 and spend National Fishing Day tossing my line into the water.
Worried? Struggling? Confused? Call Me.
I may never have lived through a pandemic, but in my 30 years working in real estate investment, I’ve weathered a lot of other ups and downs, including the 2008 recession. If you’re running into issues or have questions about your multifamily investments, give me a call at 319-350-5378. I’ll help you get through it!
–Darin Garman
319-350-5378 1
Published by The Newsletter Pro • www.TheNewsletterPro.com
ING
GACY OF GIV
LEAVING A LE
MAKING CHARITY A PART OF YOUR ESTATE PLAN
Your estate plan is far more than just a set of documents. It’s a declaration of what you find most important and a road map of the legacy you’d like to leave. Not only does a proper estate plan ensure that your loved ones will be taken care of when you’re gone, but it also allows you to make an impact on the wider world through charitable giving. Many avenues exist for making planned gifts to nonprofits, but here are some of the basics on how to make giving a part of your plan. NAME A CHARITY IN YOUR WILL The most basic way to give to a charity is by naming it in your will. Simply name the charitable organization you wish to support among your beneficiaries, and specify the assets you wish to give. If estate or income taxes are a concern, ensure your chosen organization is a 501(c)(3) nonprofit. These are the charities the IRS deems tax-exempt.
On the other hand, some charities may specialize in specific assets. For example, if your home is considered a historic site within your town, you may want to gift it to a preservation society so it stays properly maintained. DECIDE HOW TO GIVE There are different ways to structure a charitable bequest, giving you the flexibility to make sure your estate planning goals are met. If you have a set sum of money or a particular asset you wish to leave to a charity, you can make a specific bequest in your will. However, if you want to ensure your loved one’s needs are met before giving a portion of your estate to charity, you can make what’s known as a residuary gift. With a residuary gift, once debts have been paid off and your other beneficiaries have received their bequests, a specified percentage of your remaining estate will go to a charity of your choice. OTHER AVENUES Depending on your income level and the kinds of assets in your estate, more complex means of making a planned gift may be available to you. Talk to your estate planner to see if creating a charitable trust or establishing a foundation is the right move for you.
MATCH THE ASSETS TO THE CHARITY Almost all charities will accept cash bequests, though it is always a good idea to notify an organization about what you are planning to give. Smaller philanthropies may not accept complex assets, such as stocks or real estate.
ESTING
THE USA’ INV
OF ‘MADE IN
THE POWER
ROPERTIES
VESTMENT P
MERICAN IN
O CHOOSE A
10 REASONS T
Really, the list is endless! These things also apply to other items built or manufactured here in the U.S., like automobiles, but investment is special. The US of A was built on the back of heavy investment, and here at Heartland, our investment properties continue that long tradition. For me, that comes with a sense of pride, accomplishment, and enthusiasm for what tomorrow will bring — particularly because it’s all made here in the USA! This is something more than an intangible. At the core, it represents a brighter future for you and those you care about. So, the next time you hear “Made in the USA,” remember it’s not just about manufacturing or industry. It’s also about your investment here in the heartland.
these properties are not only located but made in the heartland of the USA! Owning good ol’ US of A investment real estate provides not only the benefits of a good investment but also ... 1. Employment for those who paint, mow lawns, and shovel snow. 2. Shelter or business/entrepreneur working space for those who need it. 3. Tax revenue that supports our infrastructure. 4. Capitalism at its best, where investors can choose whether to invest, how much to invest, how long to commit, etc. 5. Expanded future investment opportunities. 6. The pride of property ownership and investment. 7. The ability to achieve financial goals. 8. Transparent management and reporting with accountability. 9. Fun! Yes, I said fun! 10. High-quality properties with quality U.S. partners and resources!
There’s something I really like about the real estate investments my clients, investment partners, and I get involved in, and it has nothing to do with cash flows, returns, or tax savings. It doesn’t even have to do with building wealth! Although those are all good things that provide nice financial benefits, they’re really just part of a bigger story — a story that has a lot more to do with the colors red, white, and blue. There are “intangibles” attached to every investment you make. These intangibles are basically benefits connected to the investment that don’t have a direct impact on its performance. Indirectly, though, these intangibles can have a huge impact. They affect not only how the investment performs but also how much people like being involved with it.
Proudly providing you investments made in the USA,
–Darin Garman
Our investment real estate properties here in the heartland are a case in point. A big intangible is that
2 DARINGARMAN.COM
Published by The Newsletter Pro • www.TheNewsletterPro.com
I WA LIFE
SUDOKU
HEARTWARMING STORIES FROM THE HEARTLAND
HOW IOWANS ARE COMING TOGETHER TO FIGHT COVID-19
SALES AND SUCCES S
Here in Iowa, our communities are known for their hardiness, resilience, and heart. We’ve pulled through a lot of tough times in the past, including ice storms, floods, and tornadoes that have caused colossal damage across the state. When things get hard, Iowans come together, and so far, the coronavirus pandemic has been no exception. Despite fear and uncertainty, Iowans are keeping their chins up, looking on the bright side, and helping each other through this crisis. Seeing communities band together to make masks and cheer on essential workers has been a real silver lining for us! Here are just a few of the positive stories we’ve seen in the news lately that gave us hope for the future: • In Waterloo, a group of teachers from Becker Elementary joined forces to make a video for their students that quickly went viral on Facebook. “Hello Becker Bears!” the video begins, “Your teachers wanted you to know how much they MISS and LOVE you!” Then, one after another, smiling teachers appeared with their kids, pets, and rolls of toilet paper, holding signs with messages like, “I miss your smiles, giggles, hugs, and high-fives!” The video probably made a lot of kids’ days, and it definitely made ours. • In Des Moines, a happy couple got engaged and married over Zoom within just 24 hours on April 1. “Life is messy! April Fools’ Day, April 1, during a pandemic … it just seemed very metaphoric for how life goes,” groom Cole Mayer told We Are Iowa. The screenshots of the smiling couple are adorable and point to a much brighter future (and maybe even an Iowa-style reception) down the line. • In Clive, Dr. Brooke Johnson came home from her work shift to an impromptu parade in April. Her neighbors lined the street with American flags, covered their cars and lawns with signs, and honked and waved as the doctor passed in her car. It was an incredible display of support that made us proud of our home state! If you’re struggling to stay positive, seeking out stories like these might help. TheGoodNewsNetwork.org is a great website to bookmark. Every day, it publishes happy stories from around the world that will help lift your spirits!
APARTMENT
SOLD! 4 UNITS MARION! FULLY OCCUPIED!
FOR SALE: 12 PLEX – $570,000 ALL TWO-BEDROOM UNITS
FOR SALE: 36 UNITS – $1.4M+ ONE- AND TWO- BEDROOMUNITS
CONTACT DARIN TODAY AT 319-350-5378 FOR MORE INFORMATION ON THESE LISTINGS!
319-350-5378 3
Published by The Newsletter Pro • www.TheNewsletterPro.com
HEARTLAND INVESTMENT COMPANIES
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
Darin Garman: Heartland’s Most Trusted Multi-Family Investment Advisor 2505 Silver Oak Trail Marion, IA 52302 DarinGarman.com 319-350-5378
INSIDE Page 1 The Day the Fish Won
Page 2 Making Charity a Part of Your Estate Plan
10 Reasons to Invest in the USA
Page 3 Heartwarming Stories From Iowa’s Front Lines
Apartment Sales and Success
Page 4 Minimizing Loss Aversion in Your Business
We’re all afraid of loss: loss of revenue, income, customers. We could make an incredibly long list of the things we’d rather not lose. But it’s not just loss. We’re also afraid of the potential of loss, and that fear overrides our desire to gain something. This is loss aversion, a psychological and economic bias that suggests people would rather not lose something than gain something. It’s not uncommon to see traits of loss aversion among business owners and entrepreneurs. However, successful business owners don’t let the thought of loss aversion deter their success and growth; they’ve figured out how to limit it instead. According to Daniel Kahneman, a 2002 Nobel Prize winner for his work in economic sciences, the biggest thing standing between you and overcoming loss aversion is risk. You accept that every decision you make comes with a measure of risk. Sometimes it’s minor; sometimes it’s not. Your goal is to have confidence in your decision-making, which makes it easier to overcome loss aversion. So how do you increase confidence and reduce your risk in any given decision? The answer is data. Let’s say you’re developing a new marketing campaign. It’s going to cost you $10,000 to run for a quarter, but you aren’t confident about how it will HOW TO HANDLE LOSS AVERSION IN YOUR BUSINESS RISK VS. REWARD
perform. Ideally, it brings in $100,000 worth of business, but you did minimal research. You just copied someone else’s campaign you read about online.
Your first instinct may be to scrap it because you decide it’s not worth the risk. You aren’t confident in the campaign or the results, so it’s best to spend the $10,000 on a safer campaign or aspect of your business. But what if you ignore that first instinct and do your due diligence? You work together with your marketing expert or department to pull relevant data related to your campaign, like demographics, rate of interest, and deals your competitors are offering. Unless the data suggests otherwise, chances are you launch the campaign. It still comes with risk, but you understand the risk. You have data that shows your investment of $10,000 will bring in business. Confidence is key, and confidence comes from information.
4
DARINGARMAN.COM
Published by The Newsletter Pro • www.TheNewsletterPro.com
Page 1 Page 2 Page 3 Page 4Made with FlippingBook - professional solution for displaying marketing and sales documents online