Heartland Investment Partners - February 2021

Heartland Investment Partners - February 2021

& STRIPES

HEARTLAND INVESTMEN T COMPANIES STARS

FEBRUARY 2021

AN.COM

DARINGARM 319-350-5378

When I was 16 years old, I started dating the woman who would become my wife. As you might remember from a past newsletter, our romance could have started in the eighth grade, but when I called to ask her to the movies, she said, “Absolutely not!” and hung up the phone. But 1982 wasn’t just the year I fell in love with Gina — it’s also the year I fell in love with her mom’s carrot cake. All of my friends and family know that I’m a little bit of a freak about carrot cake. It’s my absolute favorite. Whether it’s my birthday, an anniversary, a holiday, or even someone else’s birthday, I’ll take any excuse I can find to have a slice of carrot cake. I didn’t used to be this way. Before I met Gina, I was pretty indifferent to carrot cake. It was good, sure — cream cheese frosting is delicious, and I like pecans as much as the next guy — but it wasn’t “drive across town for a slice” good. That all changed the first time I ate a forkful of my mother-in-law Karen’s carrot cake. I was hooked immediately. Of course, I wanted to see Gina every time I came around to her place, but I was also angling for some of that cake. My mind was all carrot cake all the time. That one encounter started me down the path toward becoming a carrot cake freak, and over the years, the word spread. Now, not only does my wife’s family know about my predilection, but so does mine! Everybody knows that when cake is part of an occasion, it had better be a carrot cake if I’m invited. SPOILER ALERT: I BLAME MY MOTHER-IN-LAW HOW I BECAME A CARROT CAKE FREAK

As for the second question … well, I wish I knew! There’s no secret ingredient that makes it special. The spark probably comes from the fact that my mother-in-law is an excellent baker, and the carrot cake recipe has been handed down through her family. It has probably been perfected over more than 100 years. Whatever it is about that cake, no one else’s can measure up. I found that out the hard way when it was time for my birthday celebration last March. For the last few years, Gina and I have had a go-to bakery in our town for carrot cake. Their cake isn’t mother-in-law good, but it’s very good. This year, though, when we went to order my birthday cake, we found out the bakery had closed! We had to look for a different bakery, and when we finally found one, the worst happened: The carrot cake sucked. It was so bad that my daughter actually took it back. The real tragedy is that because of COVID-19, I didn’t get to eat a single piece of my mother-in-law’s carrot cake last year. Gina’s parents live about four hours away from us, and they’ve been staying safe at home. Gina has tried to make the carrot cake herself in the past, but we both agree it hasn’t turned out quite the same, so we didn’t try this year. Here’s where I’d love your help. If you or someone in your family makes a mean carrot cake, or you’ve had a great slice in Iowa, I’d love to get your recipes and recommendations. You can email them to me at [email protected]. If you do, you just might save my birthday this year! –Darin Garman

Now, by this point, you’re probably wondering two things:

1. Why the heck are you telling me all of this? 2. What was so special about that carrot cake?

The first question is easy. A friend of mine recently let me in on the news that Feb. 3 is National Carrot Cake Day. The minute I found out there was a whole day dedicated to carrot cake, I knew I had to write about my obsession in this newsletter.

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CKETING

S ARE SKYRO

MONEY SCAM

HERE ARE 3 WAYS TO PROTECT YOURSELF RIGHT NOW

For the past year, scammers have been working full time to fleece people. As a result of COVID-19, federal financial relief efforts, and state-level relief efforts, scammers have found a new way to get into their victims’ pockets. Now, they’re using COVID-19 again, this time with the “vaccine scam.” Through this scam, they’ll sign you up for the COVID-19 vaccine in exchange for a fee. They are also using variations of the grandparent scam, in which scammers pretend to be a family member in trouble (this time, they

scam texts or emails the second you see them. If you get a call, text, or email from someone claiming to be with the government or a government agency, it’s a scammer. No one from any federal agency will ever call you out of the blue. Anyone claiming to have a cure or pretending to be in desperate need of money is also trying to scam you. Never say a word back to them. Cut them off and go about your day. 2. Sign up for Informed Delivery by USPS. This free service is a great way to monitor your incoming mail. Every morning, USPS sends you an email with scanned images of the day’s mail (this doesn’t usually include larger parcels). When you pick up your mail later in the day, you can verify if anything is missing. Scammers may prefer phone calls, but mail thieves are still very much on the prowl. 3. Sign up for an identity protection and fraud detection service. You never know who might end up with your personal information, but you can take steps to keep it safe. There are several services, like LifeLock, Identity Guard, and Intelius Identity Project, that offer comprehensive identify protection. They monitor credit cards, addresses, phone numbers, bank accounts, and more with the purpose of scoping out unusual or fraudulent behavior. Many services can be customized to fit your specific needs.

have COVID-19 or have lost their job) and they need money. Scammers make phone calls, send text messages, and craft phishing emails, hoping you’ll take the bait.

How can you protect yourself from these financial scams and more? Try these three different ways!

1. Shut them down. If you get a call from a scammer, hang up immediately (better yet, don’t answer unknown callers at all). At the same time, delete

INV ESTING

FILL IN THE

AY THE GAME ?

WILL YOU PL

Angry Birds, FarmVille, Bejeweled, Fall Down, Cut the Rope, Doodle Jump, Fruit Ninja, Tiny Wings … I’ve heard of a lot of these games and “apps,” but frankly, I don’t have a clue about most of them. If I really NEED to know, I just ask my kids and endure the heavy sigh (aka “What planet did you come from, Daaaad?”) or catch a glimpse of the dreaded eye roll that passes from one to the other (aka “Dad, are you seeeerious?”). I still think of myself as a young man at 53, but they DO know how to put me in my place. Back in the day, we played tic-tac-toe, hangman, and a bunch of paper-and-pencil games that were kind of like Wheel of Fortune, where you’d fill in the blank. That’s the same “game” I play with my partner investors when they (frequently) ask me about what I think the BEST investments will be in the coming years. They have to fill in a few “blanks.”

Of course, we discuss the return they’re looking for and, even more importantly, the safety and security of their investment “place” — the heartland. But I also ask a few other questions:

purpose of looking for a potentially high-yield property with higher risk than our usual properties, which hover around 10%–12% or more. If you’re interested in playing that high-reward game, let me know. If not, keep an eye out next month for the announcement of the window for the Heartland Investment Partners flagship fund (over 1,000 apartment units) and updates to our rental income (I’m forecasting higher returns this year). That said, if you have the investment itch now, why wait? There’s no point in putting things off, especially if you already know you’re planning to invest. If not now … when?

•

Is deferring taxes more important to you than cash flow?

•

Are you investing using your IRA? (About 48% of our investors do.)

•

Are you concerned about insulating and protecting your money?

My team and I usually work with stable, steady, conservative apartment communities, but occasionally, an investor will call about more risky, speculative opportunities. Those options are out there. So, on request, I’ll put together a smaller investment partnership that includes 8–10 investors (sometimes more) with the express

Delivering prosperity (Yes, we’re doing it already in 2021!),

–Darin Garman

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I WA LIFE

SUDOKU

IS MUSIC REALLY DEAD IN IOWA?

A LOOK AT ‘THE DAY THE MUSIC DIED’ AND IOWA’S 2021 PLAYLIST

If you were around in the ‘50s, you might remember these headlines from Feb. 3, 1959: “Rock ‘n’ Roll Singers Die in Air Crash,” “Nationally-Known Rock ‘n’ Rollers, Lake Man Victims,” and perhaps most notably — “Music Dies in Mason City, Iowa.” THE DAY THE MUSIC DIED On that day in 1959, a small charter plane dropped out of the sky over an Iowa bean field. In it were three famous musicians: Buddy Holly, Ritchie Valens, and J.P. “The Big Bopper” Richardson. All three were killed in the crash along with the pilot. Later, an investigation found the pilot had become disoriented and, unable to read the equipment, lost control of the plane. The ill-fated event shook the American music scene. Holly had chartered the plane to travel between gigs, and it was only through bad luck that those particular musicians were on it. Holly’s band was big, and as the story goes, if it weren’t for one musician contracting the flu and another losing a coin toss, other members might have taken Richardson’s and Valens’ places. When Buddy Holly died at 23, he was already a rock star. You’ve probably heard his greatest hits — “That’ll Be the Day,” “Peggy Sue,” and “Oh, Boy!” In 1971, the day of Holly’s death was immortalized as “The Day the Music Died” in folk rocker Don McLean’s song “American Pie.” ECHOES IN IOWA Today, the crash site near Clear Lake is home to a fan-made Buddy Holly memorial. A giant sculpted pair of Holly’s trademark black glasses marks the turnoff, and a stainless steel monument of a guitar and three records sit at the spot. But you don’t need to drive to the site for a reminder of the gruesome event. Every time Darin drives through Clear Lake, he thinks of it when he passes Buddy Holly Place. BRINGING THE MUSIC BACK While Iowa may be home to “The Day the Music Died,” melodies are far from dead in the state! This Valentine’s Day, check out one of these Iowa-inspired love songs: “Till There Was You” by Meredith Willson (set in River City, Iowa, for the play “The Music Man”), “Let It Be Me” by Iowa natives The Everly Brothers, and “It Sure Can Get Cold in Des Moines” by Tom T. Hall.

SALES AND SUCCES S

APARTMENT

12-PLEX AVAILABLE! EXCELLENT LOCATION!

FULLY OCCUPIED 4-PLEX SOLD IN 1 DAY!

FULLY OCCUPIED 4-PLEX! SOLD IN 1 DAY!

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

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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

Introducing Darin, the Carrot Cake Freak Page 2 Protect Yourself From COVID-19 Scams! Fill in the ______ Investing Page 3 Is Music Really Dead in Iowa? Apartment Sales and Success Page 4 New Citi CEO Shakes Things Up

THE 1ST FEMALE CEO OF ANY MAJOR WALL STREET BANK FRASER GETS KEYS TO THE CITI

Since Jane Fraser, Citigroup’s former president and CEO of global consumer banking, was named the bank’s new CEO, she’s been profiled by People magazine, interviewed in Time, and discussed extensively by the news media. That makes sense: Fraser is the first female CEO of any major Wall Street bank. She’s also bringing new thinking to the sometimes stodgy industry, and those in the world of finance and business are watching her carefully, especially because Fraser will be leading the company through one of the most turbulent markets in recent years. That turbulence extends beyond the coronavirus pandemic and its economic fallout. Last summer’s protests over racial inequities have many Americans blaming capitalism itself for injustices, and Fraser is attuned to that. “The wealth gap is disrupting society and has caused people to lose faith, and so much of the problem comes down to access,” she told Time. “The average Black family in America has just one-tenth the wealth of the average white family.” Fraser worries that the economic fallout from the pandemic could exacerbate these inequalities if not addressed. She believes that solving this dilemma starts at home. Citi recently divulged statistics regarding the pay gap between its male and female employees, and Fraser is pushing for more diversity in its workforce. Citi’s focus on elevating “the talent that exists” among women and people of color is part of what led to Fraser’s consideration as CEO. As she put it to Time, “The biggest impact we can make as a bank is through our core business capabilities.”

And that’s an important point to make when many are doubting our system’s ability to address inequality. But Fraser has always been a problem-solver. According to The Financial Brand, she led Citi’s Corporate Strategy and Mergers & Acquisitions group through the 2008 financial crisis — a position enviable only for the paycheck. She moved people and assets around, freeing up smaller companies that could be sold to help make up for the losses everyone was experiencing at the time. In an interview with LinkedIn, Fraser also emphasized the importance of having a balanced life. One game-changer for her as a mother was realizing “that you can’t do everything at the level you are comfortable with.” Plus, leading a balanced life makes for “better leaders and far better professionals. You have to have the courage to say, ‘This is my path’ — and the organizations have to support it.” Clearly, this approach has taken her far. It’s taken Citi far as well. They’ve weathered the pandemic admirably, getting everybody home safe and working remotely when possible. Where others were struggling to stay afloat or make the transition, Fraser says Citi didn’t miss a beat. In fact, the pandemic has helped dramatically increase the rate of digital banking adoption by consumers and clients. Any time there’s a shakeup in a major Wall Street player, there’s potential for upheaval. Will Fraser’s appointment lead to turmoil? Or will she lead the industry into the future, addressing the needs of the public as she does? Only time will tell, but one thing is for certain: It won’t be business as usual.

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