Today’s Show Recap:
Thanks for tuning in for another great hour of Makin’ It! On this week’s episode, we bust ghosts with Lady Gaga, talk real estate investment with Ray Massa and wrap it all up with job interview do’s and don’ts. Speaking of don’ts, don’t forget to let us know what you think of the show in the comments section below!
Let’s start MAKIN’ IT!
First up, Tommy’s love and admiration of Lady Gaga has been well documented on Makin’ It (listen here), so it’s no wonder that she’s popped up on our radar again. She makes the show this time because she recently bought a ghost busting machine that costs what an average American earns in an entire year.
Gaga may be a trendsetter, but she’s not alone when it comes to the way she spends her vast amounts of money. Precedents have been set. Kim Basinger bought herself an entire town back in the day (remember Baselton, GA?). Elton John bought a $33 million home, Floyd Mayweather bought himself a million-dollar watch (not to mention the most expensive car in the world), Jay Z spent $250,000 on champagne, and the Pitt/Jolie clan own their very own private Greek Island. This ghost busting machine hardly stacks up money-wise – though she does get points for originality…
Tommy and Todd are tempted to think that all this publicity over Gaga’s new machine is yet another genius marketing move by the Lady. After all, this is a woman who wore a dress made out of meat in 2010…and we’re still talking about it. But then again, Gaga’s fascination with the paranormal has been well documented. So who knows? Marketing stunt or real-life necessity for a spirit sensitive pop star, Lady Gaga can comfortably transport her ghost busting machine on her private jet to her castle in Great Britain. Perhaps she’ll find a ghost or two floating through the great hall.
How would you spend your money if you had more then you knew what to do with? Does it matter that celebrities use their cash to buy homes and cars and islands…and ghost busting machines…or should they be using it for the greater good? Let us know what you think in the comments section below.
Speaking of outrageous amounts of money, Ray Massa of National Investment Realty returns to the show to discuss commercial real estate. We kick off the segment talking about the most expensive market in the country – New York. Recently, a Manhattan law firm signed a twenty-year lease for $1.1 billion dollars. Too much for you? How about a penthouse office suite for $300 per square foot? If that’s still a little rich for your blood, Ray talks about the cheapest markets in the country, where you can get office space for around $10.40 per square foot.
The Donald is perhaps the most successful (and famous) real estate developer in the news. But you don’t have to have Trump’s $4.5 billon net worth to play in the real estate game. Congress created Real Estate Investment Trusts (REITs) in 1960 to allow anyone to invest in commercial real estate. Ray explains how REITs can be ideal for someone with little or no expertise in the market. There are different types of REITs and not all are created equally, so do your research and be sure you understand the potential risks and benefits. The SEC outlines some of the important things you should know before investing.
If you’re a little savvier when it comes to real estate and you want to purchase and manage properties on your own, Ray shares some tips and tricks for finding the best buildings on the market. You won’t be surprised that it’s all about location, location, location. Tune in to hear hear how you can spot the up and coming areas and what Ray says about amenities, neighbors and other important considerations.
Ray also explains how landlords can reap the benefits of depreciation and interest on their annual tax bill. To get the most out of your real estate investment, it’s important to develop a relationship with a tax professional who can keep you up to date on the latest tax laws and deductions.
Join the national Makin’ It conversation and let us know how the real estate market looks in your area. Is it a good time to invest in commercial real estate? We also want to know if a prestigious address is important to you when shopping for office space, or are you just looking for the biggest bang for your buck? Let us know in the comments section below.
Are you looking to fill your new office space with hard working employees? Or perhaps you’re looking for that next great job. In our Makin’ It or Breakin’ It segment we discuss some questions you should never ask in an interview (at least not at the first meeting) and how you should prepare to wow your future employer (hint: know everything there is to know about the company you want to work for).
We want to hear from you! If you’re a hiring manager, what is the one question from a job seeker that gets him or her kicked off the short list? What are your pet peeves when it comes to interviews? And finally, what question do you really wish an applicant would ask? Join the conversation in the comments section below or on social media!
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Additional Resources for Entrepreneurs:
Order Tommy’s new book, The Way of the Rich at amazon.com, barnesandnoble.com, booksamillion.com and buybooksontheweb.com.
Research specific REITs with EDGAR, the SEC’s free database
Contact Ray Massa at raymassa@nationalinvestment.net or (614)329-4358
Todd discusses Maslow’s Hierarchy of Needs during the show – learn more here
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Check out the Makin’ It website to listen to past shows anytime at www.makinitnow.com
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