Heartland Investment Partners - August 2020

Take a look at our newsletter this month.

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JULY 2020

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DARINGARM 319-350-5378

JOIN ME FOR A TRIP TO THE LAKE HOUSE WELCOME TO PARADISE!

This hasn’t been an easy summer, and I think we could all use a break from the chaos. That’s why, in this newsletter, I’m going to take you with me on a trip to my happy place: our house on West Okoboji Lake. Some people want to retire in Fiji or a cabin in the mountains, but for me, this little slice of Iowa is heaven on Earth. It has everything an outdoorsman needs, including a water view, a dock for our boat and Jet Ski, a top-notch grill, great fishing spots, and access to trails for biking and hiking (or what passes for hiking in super-flat Iowa). The lake itself is beautiful. It’s one of six bodies of water in Okoboji called the Iowa Great Lakes. The main one is Spirit Lake, which the locals call “Big Spirit.” Then there are the five other connected lakes: West Okoboji, East Okoboji, Upper Gar, Lower Gar, and Minnewashta. All six were carved out by glaciers way back. West Okoboji Lake is the prettiest of them all. It’s deep blue, just over 6 square miles wide, and has a maximum depth of around 130 feet. When it comes to boating and fishing, I couldn’t ask for a better setup. On any day of the week, you can probably find us conspiring about our latest plan to leave town and get to the lake. Our goal is always to get up there as quickly as possible and spend as much time relaxing as we can before our responsibilities catch up to us. The 4.5-hour drive from

our house in town always goes by in a flash as we plan what we’re going to do over the weekend and when we’ll be able to go up again. When we get to the lake house, we’ll either take the boat out, grab our bikes for a ride around the shore, pack snacks for a hike, or sit on the dock under the umbrella and enjoy a couple of cold drinks. When night falls, I’ll light up the barbecue. If we have friends or family with us, we’ll make an elaborate meal, but if it’s just me and Gina, I’ll throw on whatever I can find. Usually, that means we eat a lot of bacon cheeseburgers. You won’t catch me complaining about that! I use that grill so much that we have to replace it every three years. Ultimately, Gina and I plan to retire to that lake house. Heck, I’d go up there right now and take my work if I could! Coming home at the end of a long weekend like Memorial Day or Fourth of July is always bittersweet. The drive seems to take twice as long because we try to hold onto the vacation for as long as possible. Who wouldn’t want to live in that state of mind all the time? I hope you’ve been able to get away from it all at least once or twice this summer. If you have a slice of paradise like my lake house, fill me in next time you call to talk about investments. I’m always looking for the next great vacation spot!

–Darin Garman

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RING A RECE

RETIRING DU

to do with your retirement funds, make sure your decisions are rooted in logic, not fear or anxiety. If you don’t know where to start, contact a financial advisor for guidance. 3 GUIDELINES TO ENSURE A STABLE FUTURE

A few months ago, several news sources confirmed what savvy American businesspeople already suspected: The United States is currently in a recession and has been since February 2020. While a recession isn’t good for anyone, it’s especially concerning for those nearing retirement age. Those who were planning on retiring this year might be having second thoughts — for good reason. Rest assured, however, that if you’ve had fears about retiring this year, you can still go ahead with your plans as long as you keep a few things in mind.

DON’T WORRY ABOUT WHAT YOU CAN’T CONTROL.

Even for financial experts, the markets are notoriously hard to predict. Rather than expend energy wishing you could sway the market, focus on making changes where you have control. You can control where your assets are invested, when you claim Social Security, and how you spend your money, among other things. Think about how you can change these factors in your favor and don’t worry about the rest.

STRESS-TEST YOUR FINANCES.

While conducting a stress test might sound a little abstract, it’s something that many financial advisors can help you do with your retirement accounts. Stress-testing your finances can help you determine if now is the right time to retire or if it’s better to wait just a little bit longer. Even if things look bad right now, that could change in a year or two. As the market recovers, so do your chances of a peaceful retirement.

DON’T LET EMOTIONAL ATTACHMENT GUIDE YOUR DECISIONS.

Saving for retirement is almost inherently tied with joyful thoughts of financial stability in your golden years. So, when something like a recession threatens that security, it’s easy to react irrationally. Before deciding what

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USE YOUR IR

YES, YOU CAN

YOU HOW!

LET ME SHOW

The process of investing IRA or 401(k) funds in real estate has been around for years, and it’s a great way to get tax-deferred investment benefits. However, I’ve discovered this is new (or at least newer) information for many of my partners. I’ve also found that there’s a lot of confusion out there about the process of using retirement money to buy great investment properties. Many investors have questions or concerns that prevent them from getting involved in great deals. Luckily, if you’re considering jumping in, you don’t have to do it alone. You may recall that a few months ago, my team here at Heartland officially broke our annual record for the number of clients and partners who invested their IRA or 401(k) funds with us. We have years of experience with this process.

FREE “How to Invest My IRA in Great Apartment Communities” seminar where, in plain and simple English, I’ll go over how to invest your IRA or 401(k) in real estate. If you have an IRA or 401(k) that could use a little recovery or you’d like to see better returns than you’re getting now, this is the seminar for you! On top of the seminar itself, I’m offering a complimentary IRA kit for attendees who request it. This kit is full of great information to get you started on investing your retirement funds the right way. If you request a kit, I’ll make sure it’s sent to you immediately. To attend the seminar, simply join me at DarinGarman.com and watch my video on simple ways to invest your IRA or 401(k) in successful multifamily communities. If you know others who could benefit from this information, feel free to share the link with them as well!

I look forward to having you (or your friend or relative, etc.) at the seminar. I promise the information will be very beneficial in taking your IRA or 401(k) balance from where it is now to where you would really like it to be.

I’ll see you at DarinGarman.com!

–Darin Garman

So, how can you use this easy method to gain wealth quickly? To find out, you should attend my

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I WA LIFE

SUDOKU

WELCOME TO THE IOWA STATE FAIR!

WHERE POLITICS AND BUTTER SCULPTURES MEET

SALES AND SUCCES S

We’d venture a guess that the Iowa State Fair, which pops up in Des Moines every summer, is the most patriotic fair in America. Not only are we proud of the red, white, and blue here in the Hawkeye State, but our fair has also been home to a unique mix of agricultural pride, food on a stick, and American politics for decades. As NPR reports, the Iowa State Fair is a proving ground for presidential hopefuls who show up to eat cotton candy, get a peek at prize-winning livestock, and convince crowds they deserve to win votes in our battleground state. Every election year, candidates give 20-minute speeches at what NPR calls “the infamous ‘Des Moines Register’ Political Soapbox.” Last year, more than 20 presidential candidates took their turns! That said, political speeches aren’t everyone’s cup of tea, and it’s far from the only reason to check out the fair. One of the biggest draws for out-of- towners and locals alike is the famous butter cow. Yes, that’s exactly what it sounds like — a life-size cow sculpted from 600 pounds of low-moisture, pure-cream Iowa butter! The tradition dates back to 1911, and the fair has an official butter sculptor each year, a title passed down from master to apprentice over generations. According to the fair’s website, a single cow sculpture could butter 19,200 slices of toast! The cow is accompanied by a rotating companion sculpture, and in 2019, the cast of “Sesame Street” made an appearance in dairy to celebrate the show’s 50-year anniversary. Another thing that draws people to the fair is the food. Fair organizers list a whopping 69 menu items in the “food on a stick” category, including skewered popcorn balls, pork belly, “salad on a stick,” “chocolate-covered Key lime pie on a stick,” and “peanut butter and jelly on a stick.” You can also find all things deep-fried, including Twinkies, funnel cake, and bacon- wrapped Italian sausage. In addition to food, there’s a parade, a competition for Fair Queen, livestock contests, concerts, and dozens of rides and games. This year’s fair is scheduled for Aug. 13–23, pending COVID-19 changes. If you end up checking it out, maybe we’ll see you at the cow!

APARTMENT

FOR SALE! 24 UNITS, TWO 12-PLEX BUILDINGS! ALL TWO-BEDROOM UNITS! LOCATED IN SOUTHWEST CEDAR RAPIDS.

DUPLEXES ARE RARELY FOR SALE! GRAB THIS ONE IN HIAWATHA WHILE YOU CAN! TWO-BEDROOM UNITS AND A GARAGE — CALL NOW!

FOR SALE! SINGLE-FAMILY HOME PORTFOLIO! A PACKAGE OF FIVE SINGLE- FAMILY HOMES, ALL RENTED!

CONTACT DARIN TODAY AT 319-350-5378 FOR MORE INFORMATION ON THESE LISTINGS!

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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

Take a Trip to Darin’s Lake House

Page 2 Retiring in 2020? Follow These 3 Steps!

How to Invest With Your IRA or 401(k)

Page 3 The Iowa State Fair: Where Politics and Butter Sculptures Meet

Apartment Sales and Success

Page 4 What Small-Business Owners Can Learn From ‘Profit First’

MANAGE CASH FLOW WITH ‘PROFIT FIRST’

MIKE MICHALOWICZ SHARES WHAT YOU NEED TO KNOW

Running the day-to-day operations of a business while also managing the money can be difficult to juggle for many small-business owners. Even if they have systems and processes in place, these methods don’t always work as well as they should and can easily become difficult to navigate. When you hit this kind of wall, it can be hard to keep your focus on growing a profitable business. Enter Mike Michalowicz and his book “Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine.” The book was published in 2014 but was updated in 2017. It’s been a huge hit, garnering rave reviews from the business world due to its simple yet innovative profit- first formula. The book has been so successful because Michalowicz has faced these types of challenges before, and he used these experiences to develop principles that make life (and business) that much easier for small- business owners. You’ll get the scoop on Michalowicz’s profit-centered approach and how his innovative system flips traditional accounting on its head, making money management more streamlined. If you find yourself struggling to manage the financial side of your business, then he has you covered. His tips are especially useful for businesses that have cash flow that varies from month to month or that have a peak season. Michalowicz’s insight is even more

valuable in the wake of the COVID-19 pandemic, as business owners and entrepreneurs everywhere look to get back on track in the second half of 2020, boost their businesses, and recover lost profits. If you’re a seasoned business owner and are already money-minded and exceptionally organized, this book will likely serve as a quick refresher, but if you’re a startup business owner and want to improve your accounting systems and catapult your profits, then “Profit First” is just what you need.