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& STRIPES
HEARTLAND INVESTMEN T COMPANIES STARS
SEPTEMBER 2020
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DARINGARM 319-350-5378
Do you ever look around and think, “Man, I got lucky”? I feel that way about my family, of course, but I get the same thrill sitting in staff meetings at the Heartland Investment Partners office. Our company is small, but we truly are a team. The success we’ve had in our rental and real estate brokerage business over the last few years has definitely been a group effort. With Labor Day coming up, I thought it was about time I gave credit where it’s due! One of the things that makes the team here so amazing is that everyone works well together. When problems inevitably arise with residents of our apartment communities or other parties, the staff handles them terrifically. A big part of that is communication. Here at Heartland, we have a roundtable discussion policy. That means no matter what we’re talking about at a meeting, everyone’s opinion is welcome. No one is going to get in trouble for speaking their mind, even if they completely disagree with me. A counterargument never offends me. In fact, I think the more views aired in our meetings, the better, and I encourage people to comment on areas of the company outside their expertise. If I could give every other business owner one tip for Labor Day, it would be this: Listen to your staff. You might be surprised just how much it pays off. More than once, an idea from an employee has saved our company thousands of dollars. One prime example is our eviction policy. We don’t have a lot of evictions, thank goodness, but they do happen. Once upon a time, we were pretty hard-nosed about evictions at our properties. Our old policy was that if the rent went unpaid and the tenant did not attempt to contact us and explain why, and then they didn’t respond when we reached out, we’d start eviction proceedings. It seemed reasonable, but it ended up being pretty expensive. Court costs and man-hours add up quickly, and the tenants we evicted had a bad habit of punching holes in the walls and kicking in doors on their way out. I never understood the vandalism, but it was a real headache for me and my team — until it wasn’t. HOW 1 IDEA FROM MY TEAM SAVED ME THOUSANDS IT PAYS TO LISTEN TO YOUR STAFF — LITERALLY
The turning point came when one of my property managers suggested we handle things differently.
They said, “What if instead of filing the paperwork, waiting to get into the courts, and wasting staff and administrative time on this whole process, I contacted the resident and invited them to meet with me to talk about the situation?” The thought was if we did that and still couldn’t work things out, we could give the tenant the option of just handing over their keys and leaving. At first it sounded ridiculous to me — these people owed us money after all. Shouldn’t we go after them in court? But the more I thought about it, the better it sounded. We decided to go for it. You can probably see where this story is headed. Thanks to that suggestion, we’ve saved tens of thousands of dollars. Our eviction costs are down 60–70%. The court costs, labor hours, and vandalism related to evictions dropped off a cliff. And all of that savings came because my team and I were willing to listen to each other. There’s a real freedom in that kind of open communication, and I’m proud we’ve made it happen! So, this Labor Day, I want to thank all of my staff for their hard work. I couldn’t ask for better on-site property managers, managing assistants, maintenance personnel, bookkeepers, administrative assistants, and accountants. I still remember the days when I was doing all of these jobs myself, so I know the blood, sweat, and tears that go into them. Thanks, Heartland team, for everything you do!
–Darin Garman
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IGENCE
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Most people who hear about artificial intelligence (AI) conjure up an image of a robot acting and thinking on its own. However, it’s far more than that. AI systems are used by businesses to identify human behavior patterns and tailor marketing messages. They’re also used by health care professionals to provide diagnoses and monitor trends. And now, AI is being used for financial security.
How does AI help? It works with data faster and more accurately than a human ever could. By using AI to monitor financial transactions, a company can keep track of the real-time activity of its customers and verify its authenticity. For example, someone who makes a large withdrawal from their bank account might get an AI-generated call, text, or email seconds afterward to verify the transaction.
FRAUD DETECTION
AI can also predict and flag unusual activity associated with fraud. By combining two of its processes — data management and pattern identification — AI can pinpoint oddities within a person’s finances. For example, if a card is used for a purchase in America then used a few hours later for a purchase in another country across the world, AI can detect this suspicious activity almost immediately and send an alert to the cardholder. Additionally, AI is created to learn , which means that over time, it will become more attuned to what is or is not fraudulent activity. Artificial Intelligence is a powerful and beneficial tool for business owners and individuals alike. Read more about what AI is doing in the financial world at MarutiTech.com/ways-ai-transforming-finance .
RISK MANAGEMENT
Many are concerned about the risk of someone hacking into their bank accounts and cleaning them out. While that can happen at any moment, individuals often have a number of safeguards in place to protect their finances and mitigate this risk. The same is true for businesses, such as banks, credit card companies, or online retailers, though the risks are often far higher for these companies than they are for individuals.
MENT SHEEP !
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AND FIND FI NANCIAL FRE
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HOW TO BRE
The other night while I was watching TV, I noticed a pattern. According to CNBC and the major networks, there’s only one good place to put your money: the stock market! As I watched, so-called “experts” talked about investing in companies I’d never even heard of. And it turns out the big media machines of radio, the internet, and newspapers tell the same story. If you follow the country’s largest financial companies, you know your investing is (or “should be”) limited to stocks, bonds, mutual funds, money markets, savings, and CDs. That’s the box you’re stuck in. Now, I don’t begrudge these financial companies or their in-house experts, but there is a problem with that idea: These companies want you to do what everyone else is doing. They hope you’ll follow the crowd and become a sheep on the investment path they’ve picked out instead of doing what’s best for you. They have a vested interest in keeping you locked in that tiny little
investment box with no opportunity (or hope) of investing in something other than what’s in their stash of goodies because that’s how they profit. But hasn’t history, especially recent history, taught us that the WORST investment decision you can make is choosing to invest the same way as everyone else? It’s time to break the mold and realize that you’re not stuck — you actually have the freedom to invest in your best interest, not the interest of big companies. My investment partners and clients have chosen not to be confined to the investment box. And guess what? They’re feeling very good about how their investments are doing and what the rest of 2020 holds. It’s pretty darn exciting. Like them, you also have a choice. You can choose to be a sheep, live your investment life according to someone else’s rules, and hope it all works out. Or you can seize the freedom you deserve and enjoy its spoils.
Those rewards are there for you. The question is, are you going to take them? When you’re ready, call or email me about what I have coming up in the second half of 2020. This will get the ball rolling for you. Ask that one simple question, and I’ll give you the tools you need to reach investment freedom, even in this economy! –Darin Garman
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I WA LIFE
SUDOKU
DARIN’S ADVENTURE IN AMISH COUNTRY MEET THE OLD-SCHOOL COMMUNITY OF KALONA, IOWA
Hey folks, Darin here! I know I rarely pop into this section of the newsletter, but I couldn’t let the opportunity to talk about my trip to Amish country pass me by. The memory popped into my head this month and I just had to turn it into an article. Here in Iowa, we have a pretty big Amish community. About 7,000 people in the state are dedicated to that lifestyle, and a group of 1,200 “Old Order” Amish live outside the town of Kalona. Their settlement is the oldest Amish community in Iowa (started in 1846 if you can believe it), and one of the biggest west of the Mississippi. Amish communities promote simple, old-fashioned living. They have a set of rules called “ordnung” that requires the Old Order Amish to refuse electricity and farm and travel with horses. The women wear dresses and prayer caps, while the men don black suits and grow beards. They’re church-going folks, pacifists, and, in my experience, friendly people. Gina and I see Amish people pretty regularly here in Cedar Rapids, and I work with a few Amish investors. It’s a really interesting and unique way of life, and that was driven home for me when Gina and I visited an Amish farm to buy our very first puppy. This was years ago, but I still remember how excited I was to check out the place in person. Gina and I had heard through the grapevine that this family had Shetland sheepdog puppies for sale, so we took a road trip to the settlement. When we pulled up, I was blown away by the garden — it was the biggest one I’d ever seen! The farm was like something out of a picture book. There was a modest house, a barn, and some horses. The puppies were adorable, and Gina and I picked one out. We named her Bailey, and she grew up to be a great dog. In fact, she’s probably the reason we have Shetland sheepdogs today! The memory of visiting the farm to get her will always be a sweet one.
SALES AND SUCCES S
APARTMENT
UNDER CONTRACT! 100-UNIT APARTMENT COMMUNITY!
24 UNITS FOR SALE
TERRIFIC 4 PLEX SOLD IN DAYS!
CONTACT DARIN TODAY AT 319-350-5378 FOR MORE INFORMATION ON THESE LISTINGS!
If you ever visit Kalona, I’d recommend stopping by the Kalona Historical Society to learn about the local Amish community. You won’t regret the trip!
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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 Staff Idea That Saved Heartland Thousands
Page 2 What Can AI Do for Your Finances?
How to Avoid Becoming an Investment Sheep
Page 3 Darin’s Adventure in Amish Country
Apartment Sales and Success
Page 4 How to Enact Effective Change
PAM MARMON’S OUTLINE FOR EFFECTIVE POST-PANDEMIC TRANSFORMATION CHANGE CAN BE EASY
Pam Marmon understands what it means to adapt. After growing up in Bulgaria, Marmon had to modify her way of living when she emigrated to the U.S. Today, she’s a CEO, entrepreneur, wife, and mother who believes that change doesn’t have to be difficult. In fact, she’s mastered it. Marmon has even established a company, Marmon Consulting, that helps other companies develop strategies for executing transformation. In Marmon’s book, “No One’s Listening and It’s Your Fault: Get Your Message Heard During Organizational Transformations,” she outlines her proven methods for effective communication in any company setting, from a major corporation to a family business. Released on March 24, 2020, Marmon’s advice is timely in a period when many business owners are searching for proactive solutions and the next step in finding post-pandemic success. Marmon’s book is the perfect guide for business leaders who recognize the need for tangible change and want to execute it as effectively as possible. The key, Marmon explains, is to identify your company’s culture and cater your plan’s language
to suit what will resonate with your employees the most. This will establish a sense of alignment with your business’s vision and direction, which can be one of the biggest hurdles to overcome. You cannot achieve success in a period of change if your team is doubtful and unwilling. With your company united toward your vision, you can begin to enact real change. However, this is only the beginning. Marmon’s book also outlines how to connect with fellow leaders in your company to develop a framework for growth. By creating a stable foundation and inspiring change, you’ll find this time of major transition to be much smoother than you may have anticipated. As a result, your company will come out on top at the end of the COVID-19 era. Marmon’s mantra is inspiring: “With the proper process, change is not hard.” And with her book, “No One’s Listening and It’s Your Fault,” business leaders can see just how simple change can be.
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