Latest / Inside The Vault with Ash Cash / ITV #229 The 100% Financing Strategy That Built 80 Unit $1.2 Million Real Estate Portfolio | Inside the Vault

Transcript

ITV #229 The 100% Financing Strategy That Built 80 Unit $1.2 Million Real Estate Portfolio | Inside the Vault · Inside The Vault with Ash Cash

0:00
[SPEAKER_02]: The real suit is a way to become rich and wealth at the same time.
0:04
[SPEAKER_02]: Not a lot of businesses, make you rich and wealth.
0:07
[SPEAKER_02]: How can people buy three to five rentals in one year?
0:10
[SPEAKER_02]: I got you.
0:11
[SPEAKER_02]: Step by step.
0:12
[SPEAKER_02]: I love sharing the brush edge because a lot of people are familiar with it.
0:15
[SPEAKER_02]: You can really go out and buy rental properties with none of your money, get approved with no income, no paystubs, low credit.
0:22
[SPEAKER_02]: There's not a lot of people will tell you, hey, you can get 100% finance going to house and get all the money renovated property.
0:27
[SPEAKER_02]: Now you're thinking a little what's the catch?
0:29
[SPEAKER_02]: There's no catch.
0:29
[SPEAKER_02]: You don't have to live it for a year, like your FHA loan.
0:31
[SPEAKER_00]: Mmm, but this is a lot of game right here.
0:34
[SPEAKER_01]: Are you also thinking about investing in other things or you're like, nah, die hard, hell of a thing, son, I gotta tell you nobody's on the off.
0:43
[SPEAKER_02]: I learned it.
0:43
[SPEAKER_02]: I executed on and did my first deal in 2023.
0:46
[SPEAKER_02]: By my first house, that first year in 2023 about eight properties.
0:49
[SPEAKER_02]: How do people become millionaires?
0:51
[SPEAKER_02]: I just did the research on my own now.
0:52
[SPEAKER_02]: I got to figure this out because clearly, what I've been taught hasn't gone either.
0:56
[SPEAKER_02]: And I saw everybody that's a millionaire.
0:58
[SPEAKER_02]: They're in real estate, 90% of people are good.
1:02
[SPEAKER_01]: I know you want to watch this next video, but listen, if you are an entrepreneur, business coach, business consultant, or a small business owner who has a story and wants to learn how to create multiple strings of income from your story, I need you to text me right now, my book.
1:19
[SPEAKER_01]: to six, four, six, six, six, eight, seven, four, one, five, two.
1:22
[SPEAKER_01]: That is my personal number.
1:24
[SPEAKER_01]: I have been an author for over 12 years, I've written 10 books, four of them have been best sellers, and I've sold over 100,000 books, but I've also helped a lot of my clients, take their expertise and put it into a story, then create multiple streams of income from that.
1:39
[SPEAKER_01]: So I wanna help you do the same thing.
1:41
[SPEAKER_01]: So text my book to six, four, six, six, eight, seven, four, one, five, two.
1:46
[SPEAKER_01]: I, let's go back to the video.
2:04
[SPEAKER_01]: All right, so welcome to another awesome episode of Inside The Vault with Ash Cash.
2:08
[SPEAKER_01]: The greatest money mindset show on the planet.
2:12
[SPEAKER_01]: Most people don't fail because they lack opportunity.
2:16
[SPEAKER_01]: They fail because they never learn how to turn pressure into a system.
2:21
[SPEAKER_01]: Imagine growing up, watching a conviction notices hit your front door, and then turning that pain into a portfolio of 80 plus rental units in under three years.
2:34
[SPEAKER_01]: Today's guests didn't just escape the struggle, she reversed engineered it from U.S. Army veterans to a attorney to walking away from the system entirely to Bill Welft to Real Estate
2:51
[SPEAKER_01]: How do you go from surviving instability to owning the very asset class that once threatened your survival?
3:01
[SPEAKER_01]: In this episode, we're breaking down the exact strategy mindset and systems.
3:07
[SPEAKER_01]: She used to scale fast, use leverage not look and trust me.
3:12
[SPEAKER_01]: What she's about to share, my completely changed, how you think about money, ownership, and freedom.
3:18
[SPEAKER_01]: Insiders, ladies and gentlemen, round of applause for Ms. Cindy Wiss!
3:23
[SPEAKER_01]: Geez, that natureduck she was insane.
3:26
[SPEAKER_01]: I appreciate it.
3:27
[SPEAKER_01]: I appreciate that too.
3:28
[SPEAKER_01]: Listen, so I...
3:28
[SPEAKER_01]: So I love to like I want to say that that that the inner viewing and doing podcast is like the best thing that I love to do, right?
3:38
[SPEAKER_01]: Because I feel like especially like with AI that's out right now and social media, all this different content like we're bombarded with information information information and what makes
3:50
[SPEAKER_01]: life fun, if you will, is unique experiences, right?
3:54
[SPEAKER_01]: And so I always love to like, interview people to kind of learn, you know, different perspectives and things of that nature.
4:04
[SPEAKER_01]: God has blessed me to be successful, but I always want proof, right, that you know, success leaves clues.
4:12
[SPEAKER_01]: So I love always talking to other successful people, other people who have kind of got it out the mud, if you will.
4:18
[SPEAKER_01]: And just kind of connect and see the parallels, right?
4:23
[SPEAKER_01]: And so when I heard about your story, like, it intrigued me, right?
4:26
[SPEAKER_01]: Because I'm saying, like, wow, this is somebody who had, you know, didn't have a silver spoon, went through the ups and downs of things in that nature.
4:35
[SPEAKER_01]: Actually went through the traditional ways that they were taught.
4:40
[SPEAKER_01]: And then still didn't become successful and had to figure some things out, and it's now crushing it.
4:49
[SPEAKER_01]: And so I'm excited to get it all up in your business and get all that information.
4:54
[SPEAKER_01]: But before we start for those who don't know who is Cindy West?
4:58
[SPEAKER_02]: Cindy West.
4:59
[SPEAKER_02]: I'm 30 years old.
5:00
[SPEAKER_02]: I live in Charlotte, North Carolina now.
5:02
[SPEAKER_02]: I'm a former U.S. vet.
5:04
[SPEAKER_02]: I'm a retired attorney as I like to say, but I'm a full-time real estate investor now.
5:08
[SPEAKER_02]: So I'm about 80 rental units in the North Carolina market.
5:11
[SPEAKER_02]: I do new construction as well.
5:13
[SPEAKER_02]: I do fixing flips.
5:14
[SPEAKER_02]: And so I've now been able to create an ecosystem around a real estate that not only brought by the interim to myself, but to my family as well.
5:21
[SPEAKER_02]: So I'm in business with my brother.
5:22
[SPEAKER_02]: his wife, my father, my mother is not retired.
5:26
[SPEAKER_02]: So it wasn't just about me, my story.
5:28
[SPEAKER_02]: It was about my entire family, but we're truly blessed to be where we're at.
5:31
[SPEAKER_02]: And I'm just excited to share my stories.
5:32
[SPEAKER_02]: We can see how they can take it to the next level.
5:35
[SPEAKER_02]: So a couple of things, right?
5:37
[SPEAKER_01]: Because I think what like 80 plus rentos.
5:41
[SPEAKER_01]: uh, in less than three years, it's like remarkable, right?
5:44
[SPEAKER_01]: Like I've dabbled into, uh, you know, you know, properties and things of that nature and I don't know, it's a lot like I like I did, you there was a, there was a moment where I tried to do Airbnb, I tried to do Toro, I try to do all of the things that tried to,
5:59
[SPEAKER_01]: You know, you know, buy a hole to be a 10 and I'm like, that's a lot.
6:03
[SPEAKER_01]: So to have any of them is sort of like remarkable and and I think I think that's like a level of success that takes systems in order to do so I want to talk about that.
6:15
[SPEAKER_01]: But talk about your upbringing, right?
6:17
[SPEAKER_01]: So so I know, you know, you've had you've been evicted, right?
6:21
[SPEAKER_01]: You know, you know, like you said you've been able to retire your mom.
6:29
[SPEAKER_02]: I'm not at all.
6:31
[SPEAKER_02]: So my mom migrated from Colombia to South Florida.
6:34
[SPEAKER_02]: I'm more in raising for a lot ordeal.
6:36
[SPEAKER_02]: She was a single mom undocumented.
6:37
[SPEAKER_02]: So for those that don't know, she was illegal.
6:39
[SPEAKER_02]: She had to clean houses growing up.
6:42
[SPEAKER_02]: We just struggled a ton.
6:43
[SPEAKER_02]: We lived in poverty moved to 17 times before I was 18 years old.
6:47
[SPEAKER_02]: And I really haven't seen 17 times every single year because we couldn't afford rent so you can imagine renewing at least was ever an option Wow, and so we moved a lot and there was no stability and I really think that those situations of being and that much poverty Will either create resentment in you or you are going to be pissed off for greatness and I've always identified my shrink because those situations I was pissed off for greatness.
7:09
[SPEAKER_02]: Yeah
7:09
[SPEAKER_02]: I was like, okay, I have no stability.
7:12
[SPEAKER_02]: There's no homeownership in this environment.
7:15
[SPEAKER_02]: But I'm not going to take that and accept it.
7:17
[SPEAKER_02]: I'm going to change my life.
7:18
[SPEAKER_02]: And I knew that at eight years old, I told my mom I said I'm going to be a millionaire one day.
7:22
[SPEAKER_02]: Eight.
7:23
[SPEAKER_02]: At eight years old.
7:24
[SPEAKER_02]: And she was crazy too because she was like, you're going to do it.
7:26
[SPEAKER_01]: I love it.
7:27
[SPEAKER_02]: Oh, women are fake.
7:28
[SPEAKER_01]: If the losing of the mess, I love it.
7:30
[SPEAKER_01]: Exactly.
7:30
[SPEAKER_02]: Incredibly delusional.
7:32
[SPEAKER_02]: But she was optimistic.
7:34
[SPEAKER_02]: Yeah.
7:34
[SPEAKER_02]: And so kind of grew up still in that environment.
7:36
[SPEAKER_02]: Struggling.
7:37
[SPEAKER_02]: My mom was cleaning houses.
7:38
[SPEAKER_02]: Yeah.
7:38
[SPEAKER_02]: I took the best opportunity I could though.
7:40
[SPEAKER_02]: I 17 years old.
7:41
[SPEAKER_02]: And I went to the military.
7:42
[SPEAKER_02]: And I left home at that age trying to figure out who I was going to be, how I was going to make it to the next level.
7:48
[SPEAKER_02]: And it was a long journey because the military is far from easy when you go to high school and they're in the cafeteria.
7:56
[SPEAKER_02]: Yeah, go to the military.
7:57
[SPEAKER_02]: They sell you the dream.
7:58
[SPEAKER_02]: They sell you the dream.
8:00
[SPEAKER_02]: And in reality, it was hard, but again, that situation taught me discipline.
8:05
[SPEAKER_02]: So I come out of high school, I've lived in poverty my entire life motivated because I'm like, I'm going to be rich one day, but then I joined the military and it teaches me, you got to be disciplined to get there.
8:16
[SPEAKER_01]: It was phenomenal experience.
8:17
[SPEAKER_01]: Yeah, yeah, sure, for sure.
8:19
[SPEAKER_01]: And then so you're in the military, I will point that you were like, no, this military thing here for me.
8:24
[SPEAKER_02]: I would say probably within like a year of being in it so I ended up serving six years deployed to Iraq, Kuwait, so I've served overseas as well, and although I enjoyed the experience of it built me up into the person I am and to being a leader, but I realize that I want a more life.
8:42
[SPEAKER_02]: The military gives you housing, gives you food, gives you health insurance, you get a retirement plan.
8:46
[SPEAKER_02]: But I always had this conviction in me, that was meant to be a millionaire.
8:48
[SPEAKER_02]: And I knew the military wasn't going to get me there.
8:50
[SPEAKER_02]: And my biggest goal in life was to retire my mom by the time she was 60 years old.
8:55
[SPEAKER_02]: She was cleaning house is still.
8:57
[SPEAKER_02]: And I was like, I got a figure out a way to get there.
8:59
[SPEAKER_02]: And I was 23 years old at the time when I got out.
9:03
[SPEAKER_02]: So I had seven years of run it up.
9:04
[SPEAKER_01]: Wow, yeah.
9:05
[SPEAKER_02]: I retired her at 29.
9:06
[SPEAKER_02]: So, ah.
9:07
[SPEAKER_01]: Yeah, I love it.
9:08
[SPEAKER_01]: I love it.
9:09
[SPEAKER_01]: And so from from the military you say, all right, like I want to get us a law.
9:15
[SPEAKER_01]: How does that happen?
9:17
[SPEAKER_02]: How does that happen?
9:18
[SPEAKER_02]: So my mom clean house is growing up.
9:20
[SPEAKER_02]: Yeah.
9:20
[SPEAKER_02]: She.
9:21
[SPEAKER_02]: couldn't give us much financially, but the one thing she gave us was that she cleaned houses for very wealthy people.
9:26
[SPEAKER_02]: That's where my idea of I can be a millionaire.
9:28
[SPEAKER_02]: I didn't see it in my environment, but I saw people living very well, I saw that houses, and so that's what you do.
9:34
[SPEAKER_02]: Oh, I'm a lawyer.
9:35
[SPEAKER_02]: I'm a doctor, traditional path.
9:37
[SPEAKER_02]: So I always had it in my mind.
9:38
[SPEAKER_02]: I got to go to get an education.
9:40
[SPEAKER_02]: Yeah.
9:41
[SPEAKER_02]: And kind of to what you you tackled a little bit in the beginning is that I did everything the traditional way the way I was taught to do it.
9:47
[SPEAKER_03]: Yeah.
9:47
[SPEAKER_02]: And at some point down the road as a lawyer, I realized this isn't the way to go, but coming out the military, I saw down the road.
9:54
[SPEAKER_02]: And I was like, if I want to have a lot of money, the only route I knew was where everybody else around me was doing.
9:59
[SPEAKER_02]: They were going to college.
10:00
[SPEAKER_02]: They were going to graduate degrees.
10:01
[SPEAKER_02]: And so I decided to pursue that.
10:03
[SPEAKER_02]: And but quickly realized that that wasn't what I thought it was.
10:06
[SPEAKER_02]: It was a fantasy.
10:07
[SPEAKER_02]: And you know, the corporate world, they sell you on.
10:10
[SPEAKER_02]: It's just sexy thing.
10:11
[SPEAKER_02]: You're in where a sue year, we're going to have to five.
10:13
[SPEAKER_02]: You're going to get two weeks off a year.
10:15
[SPEAKER_02]: And you start living it, it's not as sexy as they make a scene.
10:19
[SPEAKER_02]: Yeah, yeah, well, kind of what kind of love did you want to stand in?
10:21
[SPEAKER_02]: I was a corporate attorney.
10:23
[SPEAKER_02]: So I did mergers and acquisitions.
10:24
[SPEAKER_02]: So my law firm was based on a San Francisco and we were represented companies that were selling or they were buying other companies.
10:31
[SPEAKER_01]: That, I mean, and this is like a sidewalk, but that's where I'm pushing my daughter, though.
10:36
[SPEAKER_01]: So I'm telling my daughter to get into corporate law, but because my mindset is telling me, right?
10:42
[SPEAKER_01]: Because I'm an entrepreneur, my wife's an entrepreneur.
10:45
[SPEAKER_01]: I mean, both my kids are entrepreneurs, and my son, you know, monetizes his, you know, YouTube as we speak.
10:52
[SPEAKER_01]: But I told her, because she didn't know what she wanted to do, and I didn't want to force her into our businesses.
10:57
[SPEAKER_01]: So I said, you know what, do corporate law.
10:59
[SPEAKER_01]: So at least you could be general counsel.
11:02
[SPEAKER_01]: Like, is that my advisor heard her right away?
11:05
[SPEAKER_01]: Oh, tell her, don't run, run away from it.
11:07
[SPEAKER_02]: I'm not a lawyer, but I'm still licensed.
11:09
[SPEAKER_02]: Yeah, yeah.
11:09
[SPEAKER_02]: And having the license will always be extremely valuable.
11:12
[SPEAKER_02]: Oh, OK.
11:12
[SPEAKER_02]: because the attorneys are expensive, having an attorney on retainers expensive.
11:16
[SPEAKER_02]: And so I can tell you that even though I'm not in the field, I still hold my license, I do that continued education because this is really valuable.
11:22
[SPEAKER_02]: So especially for you and what you do, having somebody that understands a law and you can just
11:28
[SPEAKER_02]: You know, text them, call them, get inside.
11:30
[SPEAKER_00]: All right, say less.
11:31
[SPEAKER_02]: That's worth hundreds of thousands of dollars.
11:33
[SPEAKER_00]: Okay, say less.
11:34
[SPEAKER_01]: You're on the right track.
11:35
[SPEAKER_01]: And I'm trying to recoup my investment.
11:37
[SPEAKER_01]: Yeah.
11:38
[SPEAKER_01]: We invested a lot of money here.
11:40
[SPEAKER_01]: So I'm trying to work with that.
11:42
[SPEAKER_01]: Yeah.
11:43
[SPEAKER_01]: And so now.
11:44
[SPEAKER_01]: being in a church, not, not, not, you know, wait, wait.
11:47
[SPEAKER_01]: Like what, what is your on trait into real estate?
11:51
[SPEAKER_02]: So for me, I was two weeks into being a lawyer.
11:53
[SPEAKER_02]: Yeah.
11:54
[SPEAKER_02]: And once again, I'm coming, I came out the army.
11:56
[SPEAKER_02]: I ended up going to law school.
11:57
[SPEAKER_02]: I'm in school for three years.
11:58
[SPEAKER_02]: I'm ready to start making money.
12:00
[SPEAKER_02]: I become a lawyer two weeks into it.
12:02
[SPEAKER_02]: I see the room and I'm like, I don't want to be here.
12:04
[SPEAKER_02]: Everybody hates it here.
12:05
[SPEAKER_02]: Everybody's miserable.
12:05
[SPEAKER_02]: Nobody looks like me.
12:07
[SPEAKER_02]: Once again, I had this conviction in me.
12:09
[SPEAKER_02]: I meant to be a millionaire and I meant to be in a way where I have time for you to.
12:14
[SPEAKER_02]: All right, so I'll be riding on the walls and have the work Christmas.
12:16
[SPEAKER_02]: I was gonna have to work the holidays.
12:17
[SPEAKER_02]: I can't go back home this afternoon for Thanksgiving and have a five day weekend.
12:21
[SPEAKER_02]: So I'm like, I gotta get out.
12:22
[SPEAKER_02]: And I'm not a creative person by any means.
12:25
[SPEAKER_02]: I'm not that smart, even though I'm a lawyer, believe it or not, but I was like, how to be with a millionaires.
12:29
[SPEAKER_02]: I just did the research on my own now.
12:31
[SPEAKER_02]: I got to figure this out because clearly, what I've been taught hasn't gotten me there.
12:35
[SPEAKER_02]: And I saw everybody that's a millionaire and they're in real estate, 90% of people are.
12:39
[SPEAKER_02]: And so I was like, okay, let me get into real estate.
12:40
[SPEAKER_02]: I did the math.
12:41
[SPEAKER_02]: I'm like, if I can buy 40 rental properties, then I can get out of my job in 24 months.
12:46
[SPEAKER_02]: The only problem was I only have $4,000.
12:48
[SPEAKER_02]: And so I'm like, look at there has to be a way, though, that can actually get out of my job in 24 months because I wanted to get out.
12:54
[SPEAKER_02]: By the time I was 29 years old, because I said, I want to enjoy the last year of my 20s.
13:00
[SPEAKER_02]: And I also have to make enough money to return my mom because that was always my goal.
13:04
[SPEAKER_02]: I couldn't return myself and be tired working two years when she's been cleaning houses for 35 years.
13:10
[SPEAKER_02]: So I figured out the birth strategy, which is what I do now, and that was my first step into it of okay I see the strategy.
13:18
[SPEAKER_02]: I understand now.
13:18
[SPEAKER_02]: I got an execute on it with the position that I'm in which is the low credit score the $4,000 Not a lot of money, but I learned it.
13:26
[SPEAKER_02]: I executed on it in my first deal in 2023.
13:28
[SPEAKER_02]: Yeah, by my first house That first year in 23 about eight properties.
13:33
[SPEAKER_01]: Wow
13:33
[SPEAKER_01]: And so I'm I'm a back it up a little bit right because two questions I'm going to ask because I know the birth strategy so I do want you to explain what the birth strategy is number one but number two I have a lot of friends in real estate in fact I have a a good friend of mine who own 40 properties at one time and he sold all of them.
13:55
[SPEAKER_01]: He's so all the properties he's invested heavily in cryptocurrency and stock market and he's telling people including myself to run.
14:05
[SPEAKER_01]: He said run, realists do not do real estate, so I want to I want to attack on those two things.
14:09
[SPEAKER_01]: What is the first strategy and what are your thoughts about
14:13
[SPEAKER_01]: real estate being a bad investment right now.
14:16
[SPEAKER_02]: I got you.
14:16
[SPEAKER_02]: So the bird strategy is you buy property.
14:18
[SPEAKER_02]: You rehab it.
14:20
[SPEAKER_02]: You do both of those things with the bank's money.
14:22
[SPEAKER_02]: They give you 90 to 100% financing.
14:24
[SPEAKER_02]: So you're not coming out of pocket.
14:25
[SPEAKER_02]: So once you buy the property, you rehab it.
14:27
[SPEAKER_02]: You rent it out.
14:28
[SPEAKER_02]: And then you refinance it.
14:29
[SPEAKER_02]: Refinancing means that another the property's value has increased because you run a bit of the property.
14:34
[SPEAKER_02]: You go ahead and you gain new loan on the property for the property's new value and now you own a property You use the banks made a buy it to renovate it and now it creates cash for you every single month Now why would I not run away from real estate?
14:48
[SPEAKER_02]: A real estate is a business where you can pay three different ways.
14:51
[SPEAKER_02]: What's the first way when you go and you refinance their property?
14:54
[SPEAKER_02]: You make money on the cash show Which is tax-free money if you have a net if you have an of equity, so you pay the first time with then the first year voting it
15:02
[SPEAKER_02]: On top of that, you get paid every single month.
15:05
[SPEAKER_02]: You're monthly profit from the cash will that comes in.
15:07
[SPEAKER_02]: The third way you get paid, your ticket is paying down your mortgage balance every single month.
15:12
[SPEAKER_02]: So over time what happens, a property value increases, your debt decreases, so now you get equating the property.
15:18
[SPEAKER_02]: And now you got your network increases your wealth.
15:20
[SPEAKER_02]: And so real estate is what is a way to become rich and wealth at the same time.
15:24
[SPEAKER_02]: Not a lot of businesses make you rich and wealthy.
15:27
[SPEAKER_02]: They can make you rich on a monthly basis.
15:29
[SPEAKER_02]: But if you have no assets that can pay you over the next 10, 20 years, you are still someone in the rat race.
15:35
[SPEAKER_01]: Yeah, so, so, so, so, so, so, right, because, because when I think about it, and that's my never really understood it, because I'm saying that especially for those, you know, like, one of my first book, I wrote, is called My Right Money Right, Tim� of the Financial Freedom.
15:51
[SPEAKER_01]: And in the book, my main message is that in order to build well, you have to change your relationship with money, instead of working hard for money, money needs to work hard for you.
16:01
[SPEAKER_01]: A lot of times people are so reliant on their physical labor, right?
16:05
[SPEAKER_01]: So they got to work hard and then they make the money and they pay the bills.
16:08
[SPEAKER_01]: But in order for them to continue to make money, they can have to continue to use their physical labor.
16:13
[SPEAKER_01]: using the burn method right you're buying a property right you said $4,000 you buying a property right but it you're buying it in a way where you're using the banks money right so you're using the banks money if you know the right way to do it which you're gonna teach us right the right way to do it you can get 90 to 100% financing so you're not even using your money you're using the banks money
16:37
[SPEAKER_01]: But instead of taking out property and flipping it, right, meaning that I'm about as property, because I think flipping, I'm not wrong with it, but flipping is a hustle, right?
16:46
[SPEAKER_01]: It's still sort of like working for money, but you take that money, you re-add the place, right?
16:53
[SPEAKER_01]: So now once you re-abit, whatever you pay for, you're telling me the equity, the value of that property goes up.
17:01
[SPEAKER_01]: So if I bought the property for $400,000, the value goes up to $200,000, let's say, but I still own that and so I'm going to rent that out.
17:10
[SPEAKER_01]: And so as I rent that out because I have a loan for $100,000, my tenant who's paying me on a monthly basis, the money that they're paying me is going to pay off my loan of $100,000.
17:21
[SPEAKER_01]: But at the same time, I now have an increased equity of another 100,000 that I could now refinance that loan, take out that 100,000 and rent some repeat over and over again.
17:37
[SPEAKER_02]: Oh, we're not going to get it.
17:39
[SPEAKER_02]: And now, exactly, sheesh.
17:40
[SPEAKER_02]: And that right there, that equity again.
17:42
[SPEAKER_02]: What does that equity do for you?
17:44
[SPEAKER_02]: Over time, that's your network.
17:45
[SPEAKER_02]: That's your generational wealth.
17:46
[SPEAKER_01]: All right, all right, all right.
17:48
[SPEAKER_01]: And he is the other thing that I
17:50
[SPEAKER_01]: I kind of see now how this puzzle was divinely orchestrated because someone like me, put like adult ADHD, I can't do none of that.
18:01
[SPEAKER_01]: But you have the army that gave you a level of discipline, the level of discipline that says success takes patience.
18:10
[SPEAKER_01]: So you're like, you're not looking for the novelty quickness, you're able to stay in
18:16
[SPEAKER_01]: and do it over and over and over.
18:17
[SPEAKER_02]: It's a long-term journey.
18:18
[SPEAKER_02]: That's how I see it because sure you can go out and start a business and make $100,000 a month, $200,000 a month, but to what you said earlier, you have to physically go out and do that.
18:29
[SPEAKER_02]: The moment you stop working, that money stops coming in.
18:32
[SPEAKER_02]: And for me, I've always stopped very long-term.
18:33
[SPEAKER_02]: I'm 30 years old right now.
18:34
[SPEAKER_02]: I don't plan on retiring in the next five years, but my goal is that in 10 years, I can retire.
18:39
[SPEAKER_02]: And if I sell my properties, I've got a million dollar payday's coming that way.
18:44
[SPEAKER_02]: it's a long-term game.
18:46
[SPEAKER_02]: I'm not even playing for today.
18:47
[SPEAKER_02]: I'm paying for down the road.
18:48
[SPEAKER_02]: And that's what most landlords do if you think about it.
18:51
[SPEAKER_02]: We get pissed sometimes when we see people that own rental properties and we're like, must have been nice when you bought it at $30,000.
18:56
[SPEAKER_02]: Now it's worth $200,000.
18:58
[SPEAKER_02]: No, they were just disciplined.
18:59
[SPEAKER_02]: They bought in the moment when people were probably telling them not to buy.
19:03
[SPEAKER_02]: They held onto the properties.
19:04
[SPEAKER_02]: They fixed them up.
19:05
[SPEAKER_02]: They rented them out.
19:06
[SPEAKER_02]: And now they get to sit on a huge pile of cash.
19:10
[SPEAKER_02]: and they can then really retire at that point.
19:12
[SPEAKER_02]: I think most of all I'm thinking about retirement session when you're a little bit younger, but for me, my vision has always been a long term when I'm 40, when I'm 45 years old.
19:20
[SPEAKER_02]: Where do I want to be in life?
19:21
[SPEAKER_02]: I'm not playing from my 30s.
19:23
[SPEAKER_02]: Sure.
19:23
[SPEAKER_01]: What do you feel like?
19:27
[SPEAKER_01]: retiring your mother right put it putting a vision out there.
19:32
[SPEAKER_01]: I'm gonna be a millionaire by eight eight years old.
19:34
[SPEAKER_01]: I'm gonna be a millionaire.
19:35
[SPEAKER_01]: I'm gonna be rich.
19:35
[SPEAKER_02]: I'm gonna retire my mom and to actually like like see it so fruition how that felt incredibly satisfying it showed me and remind me how good God is and for me I'll tell you I grew up pissed off to be great and
19:50
[SPEAKER_02]: mostly because so many people are all to be great pissed off to be great because a lot of people over the time we got it right we got a trademark but a lot of people overlooked us but more importantly I think being young I saw if you will overlook my mom yeah and I had this goal inside me I was like one day you're going to see her retire before you
20:10
[SPEAKER_02]: Because I know most of you are going to retire 62 65.
20:12
[SPEAKER_02]: I said, you know I'm going to turn my mom before anybody else.
20:14
[SPEAKER_02]: And this lady that you see scrubbing these toilets, mopping these floors, wait till you see where she's going to end up.
20:20
[SPEAKER_02]: And so for me, I'm beyond, that's like my flex.
20:22
[SPEAKER_02]: I'm my mom right now.
20:24
[SPEAKER_02]: She lives in South America.
20:25
[SPEAKER_02]: We travel to Italy, travel to France.
20:26
[SPEAKER_02]: She's coming on a cruise on Monday.
20:29
[SPEAKER_02]: The cards and the money will come, but seeing her live her life, and to have the things that she deserves.
20:35
[SPEAKER_02]: That's the spice for, you know, your brother, like your family, and my mom was hungry most days, because she was just trying to make sure that my brother and I were hungry.
20:44
[SPEAKER_02]: And she was moving every single year just to give us a good place to live, even though she could never regret my mother never paid for rent.
20:51
[SPEAKER_02]: I remember how to get dropped off from my friends in high school.
20:55
[SPEAKER_02]: They would drop me off at home and out Be running up to the door to yank off the eviction notice.
21:00
[SPEAKER_02]: I knew it was on the door It was six of the month.
21:01
[SPEAKER_02]: I knew it was on the door and they'd be coming behind me because they wanted to come inside And I would just be your friend.
21:06
[SPEAKER_02]: It wasn't there is and so I mean my mom was doing the best she could with what she had and so I respect that And now it's time to let her enjoy life as she deserves
21:16
[SPEAKER_01]: Yeah, and I love that.
21:16
[SPEAKER_01]: I think that I see so much of parallels those two, you know, because my parents are from Haiti.
21:24
[SPEAKER_01]: And so my mom is a Haitian immigrant.
21:26
[SPEAKER_01]: My dad wasn't around, so my mom raised three of us on the youngest of three.
21:31
[SPEAKER_01]: And, you know, my mom worked faculty jobs, you know?
21:35
[SPEAKER_01]: And I mean, unfortunately, I wasn't able to retire because my mom, my mom has passed away now.
21:41
[SPEAKER_01]: So I wasn't able to retire her,
21:44
[SPEAKER_01]: Um, that level of like, you know, so I'm happy to hear that you've been able to do that.
21:49
[SPEAKER_01]: She's been able to see it because I could relate to like watching them sacrifice, watching them give up everything.
21:57
[SPEAKER_01]: And even to the point where, um, my mom, we didn't have anything, but my mom was still the biggest gift I knew.
22:03
[SPEAKER_01]: Yeah.
22:04
[SPEAKER_01]: I used to be mad.
22:05
[SPEAKER_01]: Like, I'm in the, I'm in the house.
22:07
[SPEAKER_01]: I'm like, we ain't got no food in my friends coming in and she feeds everybody.
22:10
[SPEAKER_01]: You know, and I think that's where I get like my big heart from as well because I know that we'll always have more than enough and so to to be able to have that feeling I could only imagine is a is a great feeling talk a little bit about you know, you know now in in real estate.
22:31
[SPEAKER_01]: You've learnt this, you've made the money, you're making the money, you say now that I want to help others, right?
22:39
[SPEAKER_01]: I want to help others get this level of freedom that I have and I want to help people talk a little bit about that.
22:46
[SPEAKER_02]: I'm incredibly passionate about this because I did everything the traditional way.
22:51
[SPEAKER_02]: I went to the military, the military paid for college.
22:53
[SPEAKER_02]: I went to college.
22:54
[SPEAKER_02]: I went to law school, I'd become an attorney.
22:56
[SPEAKER_02]: I did step by step what America tells you to do and what I found out was that it puts you back in the rat race and you don't have any fulfillment and you can have more freedom More money be more fulfilled because you can then have the time do whatever you want to do through real estate
23:11
[SPEAKER_02]: And so I love sharing the burst edges because a lot of people are familiar with it.
23:16
[SPEAKER_02]: They don't understand that you can really go out and buy rental properties with none of your money that you don't have to personally qualify for them.
23:23
[SPEAKER_02]: You can go ahead and get approved with no money, get approved with no income tax returns, no paystubs.
23:29
[SPEAKER_02]: low credit and so the bears eventually that we've created for ourselves that don't allow us to take us to the next level don't allow us to be Millionaires don't allow us to have the generational wealth that we all start a half are just bears that we have mentally created because we don't know otherwise Yeah, yeah, and so now I feel like a small obligation because I've gone through it and I've changed my life to go ahead and pull everybody else up and say You can do this because not a lot of people will tell you hey you can get a hundred percent financing on a house and get all the money to renovate a property now you're thinking what's the catch
23:57
[SPEAKER_02]: there's no cash.
23:57
[SPEAKER_02]: You don't have to live there for a year like your FHA loan.
24:00
[SPEAKER_02]: And so they're I think they're just a lack of knowledge and now she's about spraying that knowledge people said they can go out and execute on it as well.
24:06
[SPEAKER_01]: Yeah, not love that because I'm and I'm not trying to scare anybody because it is what it is, but right now as we speak, there is people losing jobs.
24:16
[SPEAKER_01]: Right.
24:17
[SPEAKER_01]: There are people, you know, especially with AI, um, that's automating a lot of, uh, of a lot of things that, uh, a lot of jobs that humans do, um, I think the report say anywhere between 300 and 340 million jobs will be lost because of AI, um, the one thing that AI can't take away is people's ability to need a place to live.
24:41
[SPEAKER_01]: Right, and so I don't care what AI is going to, what jobs they're going to take away.
24:46
[SPEAKER_01]: They're still going to be humans on this earth and the humans need a place to live and understanding what your teaching, the birth strategy is that way.
24:56
[SPEAKER_01]: And so talk to that person, right, or not even talk to the person.
25:00
[SPEAKER_01]: Let me ask the, um, your advice, right?
25:03
[SPEAKER_01]: You have.
25:05
[SPEAKER_01]: You know, people like myself that tell people that they need multiple streams of income, that having one income, whether you're entrepreneur, whether you're working nine or five, one is close to none, right?
25:16
[SPEAKER_01]: If someone had a choice, right, and they're like, you know what, I hear you, I need to create another stream of income.
25:26
[SPEAKER_01]: Do you tell them to start the business first or do you tell them to get into real estate and why?
25:32
[SPEAKER_02]: 90% of millionaires are a real estate.
25:35
[SPEAKER_02]: So why not just follow what's been done.
25:37
[SPEAKER_02]: If you want to be successful, duplicate the strategy that God or people's successful.
25:43
[SPEAKER_02]: And so if we know that most people that have become successful have invested in a real estate, why go out and try to be creative, figure out what's I, AI resistant as well.
25:51
[SPEAKER_02]: When real estate has historically been that for everybody else that has reached that level of financial freedom.
25:58
[SPEAKER_02]: And so instead of trying to figure out how to have multiple streams of income and different avenues, why not just buy one rental property that will create three streams of income for you and multiply that as many times as you want.
26:10
[SPEAKER_02]: And you are focused down on a form, you know, on a real estate at that point, that will, in fact, not only make you rich, you'll make you wealthy over time.
26:19
[SPEAKER_02]: And again, I think real estate is such a simple concept that we all understand that it's super easy again to.
26:23
[SPEAKER_02]: Because I don't need to break down to you how owning rent to property is going to make you money, you understand the concept, you buy, you rent, right?
26:29
[SPEAKER_02]: Either you have rented at some point in your life or you go in a property, that's some point here.
26:33
[SPEAKER_02]: You've been on one side of the corner the other, and so I think it's, it's easy to understand, you just got to go out and now do it.
26:40
[SPEAKER_01]: Well, what is the first step, right, for somebody who, you know, I don't know is working to nine or five on entrepreneurship who wants to get into it, because I want to say that a lot of times the barrier to entry is the fact that, I mean, they don't know anything about, you know, the rental property, they don't know anything about the areas, they don't know where to buy,
27:06
[SPEAKER_02]: So I'll say first that educate yourself.
27:08
[SPEAKER_02]: So you can go on forms like bigger pockets.
27:12
[SPEAKER_02]: You can go on Instagram, obviously on social media.
27:14
[SPEAKER_02]: You can even watch my videos on my page and educate yourself on what the birth strategy is.
27:20
[SPEAKER_02]: From there, you're going to want to find an asset base lender, which is a harmony lender, because those are the letters that are going to give you all the financing that you need to buy that property and renovate it.
27:29
[SPEAKER_02]: And you want to make that connection with them, this is okay.
27:32
[SPEAKER_02]: what requirements you will have for the property because the property is will qualify and gets to loan a proof not to not your credit not your credit income so correct so we got a shift from thinking i got a person qualified to how do i get qualified how do you get qualified you got to bring the right property
27:47
[SPEAKER_02]: The right property usually is that you are all in cost for that property is 70% below What that property will be worth after it's renovated meaning if the property is going to be right you know Once it's renovated it will be worth a hundred thousand dollars You cannot spend more than 70% of a hundred thousand dollars on property which would be seventy thousand dollars So once you understand that man and you've connected with the lender I was going to give you the money to buy the property now you go and you find the property I always recommend start in lower cost markets
28:14
[SPEAKER_02]: like under a hundred thousand dollars, day in Ohio, Toledo, Ohio, you got North Carolina, you got Georgia, starting those markets, and find your first deal.
28:23
[SPEAKER_03]: Yeah, yeah.
28:24
[SPEAKER_01]: Do I have to know about Toledo, Ohio?
28:30
[SPEAKER_01]: Like how am I going to know that this property is for sale, or it's actually a real property.
28:39
[SPEAKER_01]: Am I going to have to fly over to Toledo?
28:42
[SPEAKER_02]: No, you can always look on markets so you can obviously look on Zilo, see what's for sale actively, and then go from there, you can connect with the realtor to do that as well.
28:50
[SPEAKER_02]: So you don't have to go on it on your own.
28:53
[SPEAKER_02]: You can leverage other people and that's how you start building out your team.
28:56
[SPEAKER_02]: So when I started in Dessie, I was living in Washington DC.
28:58
[SPEAKER_02]: I was all over there.
28:59
[SPEAKER_02]: Sorry, I'm messing in North Carolina.
29:01
[SPEAKER_02]: I had a realtor.
29:02
[SPEAKER_02]: And he would send me properties that were for sale on the market.
29:06
[SPEAKER_02]: And then if I was interested in them, he would go ahead and go see it.
29:09
[SPEAKER_02]: Now how do you figure out if it's going to be a good
29:12
[SPEAKER_02]: Well, you want to see if properties are renting for at least 30% more than what your mortgage would be.
29:17
[SPEAKER_02]: So you do the map, you see?
29:18
[SPEAKER_02]: Oh, OK. You see how much a property is going for sale for it.
29:21
[SPEAKER_02]: Well, it would be your mortgage payment.
29:22
[SPEAKER_02]: You can use loan calculators just Google those, figure it out.
29:25
[SPEAKER_02]: And then you go and look on Zilla and look at for rent and look in Toledo High on Daniel Howe.
29:30
[SPEAKER_02]: What are properties renting for?
29:31
[SPEAKER_02]: Yeah.
29:31
[SPEAKER_02]: If they're renting for $1,500 a month and you see that your mortgage is going to be $1,000 a month.
29:36
[SPEAKER_02]: You can do the math.
29:37
[SPEAKER_02]: It's okay.
29:38
[SPEAKER_02]: It's profitable in this market.
29:39
[SPEAKER_01]: Yeah.
29:40
[SPEAKER_01]: Yeah.
29:40
[SPEAKER_01]: Not love that.
29:41
[SPEAKER_01]: And I think that, you know, what you're saying pretty much is that all of this exists already.
29:48
[SPEAKER_01]: It's not guesswork.
29:50
[SPEAKER_01]: You don't have to guess about it.
29:52
[SPEAKER_01]: There's actual mathematics.
29:54
[SPEAKER_01]: This things that you could do to figure out if this is a good investment enough.
29:57
[SPEAKER_02]: Well, 100% people are used to looking at real estate from an emotional perspective.
30:02
[SPEAKER_02]: It's all data and it's all numbers.
30:04
[SPEAKER_02]: All we do is math.
30:04
[SPEAKER_03]: Yeah.
30:05
[SPEAKER_02]: Does the deal work?
30:06
[SPEAKER_02]: Do the numbers work because if the numbers work out, my line is going to give me the money and you can go ahead and now buy the property.
30:11
[SPEAKER_02]: It's all just the analysis.
30:13
[SPEAKER_02]: If you learn the framework of it and you know how to analyze deals and you've got the lending now, your job is to find the properties.
30:20
[SPEAKER_02]: You don't got to get emotional.
30:21
[SPEAKER_02]: I need to see the house.
30:22
[SPEAKER_02]: I ain't to choose what color floor is what I'm going to pay.
30:25
[SPEAKER_02]: Don't get into that.
30:26
[SPEAKER_01]: Yeah.
30:26
[SPEAKER_01]: How do you deal with tenants that don't pay though, right?
30:32
[SPEAKER_01]: Because I think that that's the biggest nuance.
30:35
[SPEAKER_01]: So that's the biggest headache that comes with own properties.
30:38
[SPEAKER_02]: Yeah, absolutely.
30:39
[SPEAKER_02]: I think big thing you always have to screen them.
30:41
[SPEAKER_01]: Yeah.
30:41
[SPEAKER_02]: So a lot of times people coming into real estate, you want to be buddy buddy with your tenants.
30:46
[SPEAKER_02]: You can be buddy buddy with your tenants.
30:48
[SPEAKER_02]: You got to qualify them, screen them, make sure that they actually make enough money to pay that rent every single month.
30:54
[SPEAKER_02]: But on top of that, I just focus on markets, states, where they're landlord friendly.
30:58
[SPEAKER_02]: I know you're from New York.
30:59
[SPEAKER_02]: I would never invest in New York, because they'll leave squatters in there for a year, two years.
31:04
[SPEAKER_02]: And it's very hard to get people out, but if you go into a market like North Carolina or their landlord friendly, if you don't pay rent by the six, I can follow an eviction for you the next day and you'll be out in 14 days.
31:14
[SPEAKER_02]: We move like that.
31:15
[SPEAKER_02]: So it all comes down to choosing the right markets so that if you were to get to that situation, you can get out of it.
31:21
[SPEAKER_02]: People get afraid because they
31:25
[SPEAKER_02]: A squad who's been living there, the landlord goes to the doorsteps, yeah, squadaches get off my property, landlord got to get off.
31:32
[SPEAKER_02]: So it really is, it's, it's based off the state.
31:35
[SPEAKER_02]: Yeah.
31:36
[SPEAKER_01]: So you guys, because I mean, I was like, I've, I've seen cases like that.
31:39
[SPEAKER_01]: And I'm like, oh, that's so unf...
31:41
[SPEAKER_01]: Fair, like, I've even seen cases in which a squatter was able to obtain like permanent rights over someone else's property because they, I guess, understood the law, the just saying that that just happens in the state that like you just got to know the law and know the right states to invest in.
31:57
[SPEAKER_02]: Absolutely, he can go on strategy BT, just type in, talk 10, Lala friendly states.
32:01
[SPEAKER_02]: Yeah.
32:17
[SPEAKER_02]: Yeah, I know some of that go that route.
32:19
[SPEAKER_02]: I'm like, nah, fuck, I'll pop that life song.
32:22
[SPEAKER_02]: I paid for this.
32:24
[SPEAKER_02]: I know if you without a cut off the water, the tower, I'm like, I don't do any of that.
32:28
[SPEAKER_02]: I just go with the legal system.
32:30
[SPEAKER_02]: And if you're in a state where the legal system works in your favor, you'll be good.
32:32
[SPEAKER_01]: Yeah.
32:33
[SPEAKER_01]: 80, probably the three years that had to take a level of like locking discipline, like what does it take?
32:47
[SPEAKER_01]: What does that take for you?
32:49
[SPEAKER_02]: Definitely building it out.
32:50
[SPEAKER_02]: I would say the goal was always double were doing every year.
32:53
[SPEAKER_02]: So first year 8 properties second year 17 last year 45 this year the goal was to do 90 push upwards 250 units and it's always just been thing about it strategically.
33:03
[SPEAKER_02]: Yeah, actually planning how do we get there.
33:06
[SPEAKER_02]: I did the same thing when I when I want to get to 40 rentals.
33:08
[SPEAKER_02]: I sat down.
33:09
[SPEAKER_02]: I did the math.
33:09
[SPEAKER_02]: I said.
33:10
[SPEAKER_02]: How do I do this?
33:11
[SPEAKER_02]: And it's been the same thing every single year when we plan for the yearly goals.
33:15
[SPEAKER_02]: How do we actually do this in having a plan that we can then follow step by step, but besides having the plan and it's having the team.
33:22
[SPEAKER_02]: So it's me, it's my brother, where similar mine did, but we have different strengths.
33:28
[SPEAKER_02]: And that's been a huge component for us because as we grow, there's different pain points.
33:32
[SPEAKER_02]: So can you now manage all of the renovations?
33:34
[SPEAKER_02]: I manage all acquisition.
33:35
[SPEAKER_02]: So I only focus on buying properties that make sense.
33:38
[SPEAKER_02]: He focuses on renovating them.
33:40
[SPEAKER_02]: My dad now is involved in business.
33:42
[SPEAKER_02]: He's a project manager.
33:43
[SPEAKER_02]: My brother's watching the business.
33:44
[SPEAKER_02]: She's a property manager.
33:46
[SPEAKER_02]: And so now, every single year, we're adding on more people so that they can help us push us upwards and that we can keep buying properties.
33:52
[SPEAKER_02]: And now it's about systems.
33:54
[SPEAKER_02]: I think I saw post the other day, which says, something to the effect of your first $100,000.
33:59
[SPEAKER_02]: can can come, but the next that comes is based off of systems.
34:03
[SPEAKER_02]: Right.
34:03
[SPEAKER_02]: So we've managed to this point without systems.
34:06
[SPEAKER_01]: Yeah.
34:06
[SPEAKER_02]: Now to take it to another level, we got to have systems.
34:09
[SPEAKER_01]: Yeah.
34:09
[SPEAKER_01]: So I'll talk a little bit about the, like, wind invasions.
34:11
[SPEAKER_01]: I know your brother manages those, but I think one of the things, again, that, you know, I said, I got into, like, buying properties and stuff.
34:19
[SPEAKER_01]: One of the things that deterred me was, um,
34:22
[SPEAKER_01]: trying to find the right people to renovate, you know, you know, because I have another, you know, I had other businesses.
34:30
[SPEAKER_01]: I was like too busy to kind of watch things.
34:32
[SPEAKER_01]: I think certain contracts to see that, they start, they start, you know, taking their time, they start charging you that you got it tack.
34:40
[SPEAKER_01]: I think I got, I got tax that you got it tax for a while.
34:43
[SPEAKER_01]: Like, how do you shield yourself
34:47
[SPEAKER_02]: I would say the biggest thing is you got to be 100% focused on your business, and that's what me, whether they're quickly figured out.
34:53
[SPEAKER_02]: We were in business together.
34:54
[SPEAKER_02]: He was a police officer.
34:56
[SPEAKER_02]: I was a lawyer.
34:56
[SPEAKER_02]: We're doing on the side.
34:58
[SPEAKER_02]: And when we realize his contractors will not show up to work every single day unless they know you're going to show up to the jobs that every single day.
35:05
[SPEAKER_02]: And so now, how do we manage that every single day?
35:09
[SPEAKER_02]: There's a project manager on site.
35:11
[SPEAKER_02]: On top of that, we don't pay them upfront.
35:13
[SPEAKER_02]: A lot of times, if you pay them upfront, what happens, you're not incentivized to go ahead and keep pushing forward, but when you haven't paid them, what they want to get out of that project quickly?
35:22
[SPEAKER_02]: They want to finish, just so they can do, all right, I'm ready to get paid.
35:24
[SPEAKER_02]: But when you pay them, you lose that leeway, and so I think it's just been figuring out how to manage them.
35:30
[SPEAKER_02]: So we can get the project done.
35:32
[SPEAKER_02]: And part of that is just showing up.
35:34
[SPEAKER_02]: You got to be on top of them.
35:35
[SPEAKER_02]: That's true.
35:36
[SPEAKER_01]: I could imagine that,
35:38
[SPEAKER_01]: Um, you know, some of the things that you've learned, you didn't learn them by yourself to try to narrow her, um, how important is mentorship or finding a coach, like if you're if you're starting anything new.
35:52
[SPEAKER_02]: It accelerates where you're trying to go.
35:56
[SPEAKER_02]: So I had listened to podcasts on their strategy for eight years.
36:01
[SPEAKER_02]: So I had familiarity with it, but I had never executed.
36:04
[SPEAKER_02]: What was the changing point for me?
36:06
[SPEAKER_02]: When I met that roter in New Carolina, he was an investor.
36:10
[SPEAKER_02]: He took me to the next level.
36:11
[SPEAKER_02]: He helped me by eight houses in a single year.
36:13
[SPEAKER_02]: for the last eight years, I hadn't done a single thing.
36:15
[SPEAKER_02]: And so having somebody that could now teach me because he owned 120 rental properties.
36:20
[SPEAKER_02]: He was also a realtor though.
36:21
[SPEAKER_02]: But he said, let me show you how the game goes.
36:23
[SPEAKER_02]: Within a year, he taught me everything, and it turns from our entire life.
36:26
[SPEAKER_02]: And so if I would have not got with somebody that was in a position that I aspire to be in and can teach me the strategies, the resources, the systems, I would still be trying to figure out how to even get one property.
36:39
[SPEAKER_01]: Yeah, yeah, yeah, yeah.
36:44
[SPEAKER_01]: One of the things I want to go back to because I think that this is where you got to unlearn to relearn, right, is and you said this earlier, but I want to go back to it because you said asset base lending, I know most people are.
37:00
[SPEAKER_01]: familiar and comfortable with buying their first home to live in.
37:05
[SPEAKER_01]: And to buy your first home to live in, you have to have good credit, you have to have, you know, income, right?
37:13
[SPEAKER_01]: You have to be have a certain profile in order to buy this house.
37:18
[SPEAKER_01]: You're saying that there are, and then there's the traditional lender, you know, like your regular mortgage or bank or whatever that provides that loan
37:30
[SPEAKER_01]: Asset base lenders aka hard money loan lenders who do not care about Ash does it care about Darrell does it care about Cindy they care about the asset that you are purchasing
37:47
[SPEAKER_01]: And then based on that asset, if the asset is being bought at a good deal, they'll give you the money up to 90 to 100% And it doesn't matter if somebody has a 400 credit score with negative $10 in their bank account, can they buy a property?
38:09
[SPEAKER_02]: Here we be, my blown, you can, because again, these lenders are focused on the property.
38:14
[SPEAKER_02]: Why?
38:15
[SPEAKER_02]: Because the property is a collateral for them.
38:17
[SPEAKER_02]: If you default on that loan, guess what happens, they take back that house.
38:22
[SPEAKER_02]: Wow, with the equity in it.
38:24
[SPEAKER_02]: And so sometimes we think, oh, why the lender's giving us so much money without personally qualifying us.
38:30
[SPEAKER_02]: Take care about the property.
38:31
[SPEAKER_02]: If you don't pay, they have a great property now.
38:33
[SPEAKER_02]: They can go out, sell it, make more money on it.
38:35
[SPEAKER_02]: They can keep it.
38:37
[SPEAKER_02]: And so I think that it really comes to once again to that mind shift of how do I person qualify for these loans and realizing that these lenders are going to finance it.
38:45
[SPEAKER_02]: This works.
38:46
[SPEAKER_02]: I always have been works at a smaller level houses.
38:48
[SPEAKER_02]: Yeah.
38:48
[SPEAKER_02]: Do you flexes?
38:50
[SPEAKER_02]: I'm now in a position where I'm mostly by multi-family on the smaller side.
38:53
[SPEAKER_02]: So I buy 10 unit buildings, 16 unit buildings.
38:56
[SPEAKER_02]: But even on a larger scale, when you see those 200 unit apartment buildings, those 300 unit apartment buildings, who do you think gave them the financing?
39:03
[SPEAKER_02]: As if based lenders.
39:04
[SPEAKER_02]: Yeah.
39:05
[SPEAKER_01]: And so really, the ASAP base lender is an investor that invests in them on a look at for good deals, but like why wouldn't the ASAP base lender just look for the deals themselves?
39:18
[SPEAKER_02]: too much work because you got to find the property then you got to manage your renovation then if you want to keep it you got to figure out how to keep it rented and collect rent every single month and they make their money on the loan itself why the loan is for one year yeah stairs a higher interest rate on it usually enter from nine and a half to 13% interest rate so they're making a good chunk of money off the loan itself without doing any of the labor
39:41
[SPEAKER_02]: that we have to do as investors, which is driving to find the property, going to the property side every single week, whatever it is.
39:48
[SPEAKER_02]: So they make their money just off the loan itself, but they're more than willing to put out those loans because they know that the asset itself is a great investment.
39:57
[SPEAKER_02]: They're not investing in you.
39:58
[SPEAKER_02]: They're investing in the property itself.
40:00
[SPEAKER_01]: Yeah.
40:01
[SPEAKER_01]: And so it is it is a safe to say that even after they give you the money, you renovate the, you renovate the property.
40:11
[SPEAKER_01]: It's now worth more when it's time to refinance it because you own it.
40:17
[SPEAKER_01]: It's still easier to refinance and get money out of the property.
40:20
[SPEAKER_02]: 100%.
40:21
[SPEAKER_02]: When you refinance, now you go to what's called the DSCR lender.
40:24
[SPEAKER_02]: Okay.
40:25
[SPEAKER_02]: A debt service coverage ratio lender.
40:27
[SPEAKER_02]: They are
40:29
[SPEAKER_02]: It's a little bit different.
40:30
[SPEAKER_02]: It's a little bit different, but here's how they qualify and approve a loan for a refinance.
40:36
[SPEAKER_02]: Right.
40:36
[SPEAKER_02]: They'll ask does the property generate enough income every single month, meaning is the rent, the mortgage payment.
40:43
[SPEAKER_02]: So basically, are you breaking even every single month?
40:46
[SPEAKER_02]: Because they just care about getting paid.
40:49
[SPEAKER_02]: Again, these liners, they do not care about you.
40:50
[SPEAKER_03]: Yeah.
40:51
[SPEAKER_02]: They want to know about the property.
40:52
[SPEAKER_02]: There's a property F equity it will the property pay me every single month.
40:56
[SPEAKER_02]: Yeah, if it shakes that mark, you'll go ahead.
40:58
[SPEAKER_02]: You get the load.
41:00
[SPEAKER_02]: Hmm.
41:01
[SPEAKER_01]: Well, that's a lot of game right here.
41:08
[SPEAKER_01]: All right.
41:11
[SPEAKER_01]: And so, and so now you go, you do the DSCR loan.
41:17
[SPEAKER_02]: they don't understand the numerical analysis, I think, more than anything because it is, you got to understand what you're buying the property at, how much renovation costs are going to me, what the after a peer value, and you got to look at the data.
41:30
[SPEAKER_02]: Yeah.
41:31
[SPEAKER_02]: That's the truth though, but it really is just math.
41:33
[SPEAKER_03]: Yeah.
41:34
[SPEAKER_02]: And so I'll give you like a quick example of my brother and
41:43
[SPEAKER_02]: Lender gave us 100% of the money.
41:44
[SPEAKER_02]: Wow.
41:45
[SPEAKER_02]: The renovations were about $250,000.
41:47
[SPEAKER_02]: Lender gave us all the money.
41:50
[SPEAKER_02]: So we're all in it at about $620,000.
41:51
[SPEAKER_02]: Lender, yeah, money.
41:53
[SPEAKER_02]: None of my money.
41:54
[SPEAKER_02]: There are money.
41:55
[SPEAKER_02]: Wow.
41:56
[SPEAKER_02]: I'm taking it on a roof now.
41:57
[SPEAKER_02]: I have a loan for $620,000 for one year.
42:00
[SPEAKER_02]: Yeah.
42:01
[SPEAKER_02]: That's it.
42:01
[SPEAKER_02]: That's risky.
42:01
[SPEAKER_03]: Yeah.
42:02
[SPEAKER_02]: But the property once it was renovated, it rented out.
42:05
[SPEAKER_02]: It was worth $1.2 million.
42:08
[SPEAKER_02]: risk reward.
42:10
[SPEAKER_02]: I go.
42:10
[SPEAKER_02]: I do a cash out refinance.
42:12
[SPEAKER_02]: I pay off my lender.
42:13
[SPEAKER_02]: The station's $20,000.
42:15
[SPEAKER_02]: Made out.
42:16
[SPEAKER_02]: And then I get a cash out refinance of $150,000.
42:19
[SPEAKER_02]: Right.
42:20
[SPEAKER_02]: Tax free.
42:21
[SPEAKER_01]: And then now you have a loan, but that loan you're servicing through the rent.
42:25
[SPEAKER_01]: that through the rent every single one.
42:27
[SPEAKER_01]: And you got money, though.
42:28
[SPEAKER_02]: And I got money.
42:28
[SPEAKER_02]: I got money.
42:29
[SPEAKER_02]: So I got 150 grand.
42:30
[SPEAKER_02]: One thing that you didn't have before.
42:31
[SPEAKER_02]: Exactly.
42:32
[SPEAKER_02]: And I did it.
42:33
[SPEAKER_02]: Put money out into the deal.
42:34
[SPEAKER_02]: I just did the work.
42:35
[SPEAKER_02]: Now I'm getting paid the 150,000 on the refinance.
42:38
[SPEAKER_02]: I still own the asset.
42:40
[SPEAKER_02]: So it pays me every single month.
42:42
[SPEAKER_02]: And it pays my loan every single month.
42:45
[SPEAKER_02]: And again, I own the asset.
42:46
[SPEAKER_02]: If I own it for 10, 15 years, what's going to happen?
42:48
[SPEAKER_02]: The tennis is going to appreciate.
42:50
[SPEAKER_02]: The tennis going to go ahead.
42:56
[SPEAKER_02]: If I want to sell myself, I have a great day.
42:58
[SPEAKER_01]: Wow.
42:59
[SPEAKER_01]: And worst case scenario, right in the worst case scenario, because I asked about risk, and you said, hey, the risk is, I got a $620,000 loan, and I can't pay it back.
43:11
[SPEAKER_01]: Worst case scenario, they fork hold on the property, and just take back a property that you never owned to begin with.
43:19
[SPEAKER_01]: Correct.
43:20
[SPEAKER_01]: You always owning your LLC.
43:22
[SPEAKER_02]: And that's my next question, but that's my next question is, do you, how do you do it to protect yourself and you kind of like answer that you're saying you own it in the LLC explain you want you want in your LLC so with any asset based learner they always want you to own the real estate in an LLC makes it easier for them if they get into that position where that take it back from you, but unfortunately that's why sometimes you see people do this strategy and
43:48
[SPEAKER_02]: for whatever reason they don't finish the renovation it doesn't work out they'll just walk away from the property miles he owns it yeah foreclosed bankrupt the lc and they move on i don't recommend you do that but if your personal name isn't on the home
44:04
[SPEAKER_02]: Again, because you're not personally qualifying you, the question that becomes, what does have implications on you personally, if you got a loan, based on the property itself, and it was under your LLC.
44:16
[SPEAKER_01]: Yeah, got it, got it, got it, wow, so that's what now, talk about.
44:21
[SPEAKER_01]: Um, you know, your mentorship, right?
44:24
[SPEAKER_01]: So you, so you have, you know, like, like, like, I'm ready to, I'm ready to join.
44:29
[SPEAKER_01]: Like, I'm like, this, this fantasy is good.
44:31
[SPEAKER_01]: Talk about your mentorship, talk about, you know, what you're teaching people and, and, and, you know, the, you know, all of the students that you've been out here.
44:39
[SPEAKER_02]: So I'm teaching people what what I've talked about how to go ahead buy these properties with no money at a pocket leverage bank financing so you can create a portfolio that will whether it's through a place you're income you want to replace your income in two three years whether you want to retire this is a strategy that gets you there because you get to that that rich and it gets you wealthy as well and so I'm teaching people how to do it but I think my position with it being that I'm a lawyer I'm very conservative.
45:04
[SPEAKER_02]: And so as much as there is risk involved we try to minimize risk as much as possible and I'm big on teaching that side of it of how do we take these leaps of faith We invest in these asses that are that are going to pay us every single month But we make sure we're not putting ourselves in a worse position because most we're coming in they don't have the credit
45:20
[SPEAKER_02]: they don't have the money, they don't have the income.
45:23
[SPEAKER_02]: And so for me, it's okay, I want to transform your life, but I want to make sure that in fact, you get that transformation on the back end of buying these properties and being in a good position where they're going to pay you now every single month for the rest of your life.
45:35
[SPEAKER_01]: Yeah.
45:36
[SPEAKER_01]: What is your mentorship and tail?
45:40
[SPEAKER_01]: Like, do they get access to resources?
45:42
[SPEAKER_01]: Do they get access to weekly calls?
45:45
[SPEAKER_01]: Like, if somebody is trying to learn from
45:47
[SPEAKER_01]: Cindy West.
45:49
[SPEAKER_02]: I like that.
45:51
[SPEAKER_02]: They get a course on top of that.
45:53
[SPEAKER_02]: They get the weekly coaching calls with me We're out of review properties for them.
45:58
[SPEAKER_02]: So not only am I giving you the information, but when you go and execute on it I'm there to give you I'm going feedback to say hey
46:04
[SPEAKER_02]: Maybe see them from that house or hey, why don't you offer a little bit less?
46:07
[SPEAKER_02]: So I give them that ongoing feedback.
46:09
[SPEAKER_02]: Obviously, the biggest plug is going to be the lenders because everybody's first question is, who's giving you 100% finance in?
46:14
[SPEAKER_02]: I know the lenders.
46:15
[SPEAKER_02]: I've done my due diligence over the last three years.
46:17
[SPEAKER_02]: I call a good chunk of lenders in the United States of America.
46:20
[SPEAKER_02]: And so now I've got those contexts in my role and that's that.
46:22
[SPEAKER_02]: Instead of you going out and trying to figure it out, I'm just going to give them to you.
46:26
[SPEAKER_03]: Yeah.
46:27
[SPEAKER_02]: So now you know who's doing 100% financing, you get all the resources that are in the community, and on a weekly basis for an entire year, I'm walking you step by step on how to do this business, and to not only buy one property, but to buy multiple rental properties and to get to a point where if you really want this to take you to another level financially, to get into the multi-termly space, which is the buying now apartment buildings.
46:50
[SPEAKER_02]: No longer buy houses, one of two
46:53
[SPEAKER_02]: But taking into one of our last week, my apartment buildings, and now instead of doing two houses, you're not doing a 10-year building.
46:58
[SPEAKER_02]: And you have a $150,000 payday within six and a month.
47:01
[SPEAKER_01]: Yeah.
47:02
[SPEAKER_01]: I mean, I love it.
47:03
[SPEAKER_01]: I think the game changer for me is really like your ability to look at deals and really kind of look at those deals and kind of like walk and, you know, coach people through that and then also like the lender.
47:18
[SPEAKER_01]: So it's almost like
47:20
[SPEAKER_01]: no one has to guess how to do it.
47:22
[SPEAKER_01]: He has to strategy if you understand this strategy and working with you allows you to now be able to get to the result that they want a little faster.
47:35
[SPEAKER_01]: And a more disciplined way, because I think that's also the thing too.
47:38
[SPEAKER_01]: is that a lot of times, people try to go fast, but when they go fast, they do it on discipline, so they make a lot of mistakes, so you lose a lot of money.
47:45
[SPEAKER_01]: And you lose money.
47:46
[SPEAKER_01]: Yeah, you lose money that way.
47:49
[SPEAKER_01]: What is the, you know, 10 years from now, 20 years from now, as you pass all of this wealth, what do you see, Cindy doing her time?
48:02
[SPEAKER_02]: Oh, if my, I hope that in 10 years, I have a portfolio about $100 million a real estate.
48:08
[SPEAKER_03]: Yeah.
48:08
[SPEAKER_02]: That's the goal.
48:10
[SPEAKER_02]: If I think about what I want my legacy to be, I wanted to reflect a minority coming from nothing, owning a large portion of real estate in North Carolina, where you would never see somebody like me own a large portion of real estate in North Carolina.
48:23
[SPEAKER_02]: I want to stand for something and I hope to really impact other people and see them as well in a position where they own 10s, 20s of houses, buildings and transference from their lives as well.
48:35
[SPEAKER_02]: Especially when our community, most importantly, are in this space.
48:38
[SPEAKER_02]: They've had those mental barriers, and so for me what's in failing is not only to see my own family create our legacy coming from people that were often overlooked, to now being in position where we're blessed, but we can also now turn around and help other people, and then see all those other people then transform their own families, have that generational wealth, and have real understand.
48:58
[SPEAKER_02]: I mean, that would be the goal.
48:59
[SPEAKER_01]: No, I love it.
49:00
[SPEAKER_01]: Um, if you could go back to, to 18 year olds Cindy, what, uh, you know, what advice would you give her?
49:10
[SPEAKER_02]: Oh.
49:10
[SPEAKER_01]: No one want you know now.
49:12
[SPEAKER_02]: Yeah.
49:16
[SPEAKER_02]: You know, I'll be honest, I think I had a pretty good advice, 18 years old.
49:23
[SPEAKER_02]: Yeah, yeah.
49:24
[SPEAKER_02]: Yeah, I just always looked at my 20s and I was like this isn't where you part and have fun.
49:30
[SPEAKER_03]: Yeah.
49:30
[SPEAKER_02]: And I held that tight and now I look back and yeah, I had it okay fun in my 20s.
49:35
[SPEAKER_02]: But I didn't really do too much again.
49:37
[SPEAKER_02]: I always looked at it from a very long term perspective.
49:41
[SPEAKER_02]: But if I had a season to myself, I would say take the risk because at 18 years old, I already rich that poor dad.
49:47
[SPEAKER_02]: And I didn't take the risk.
49:48
[SPEAKER_02]: I went with it was comfortable.
49:49
[SPEAKER_02]: So if there's anything, I could have told myself was I wanted to be rich Yeah, but even though I knew this route I decided to go a route that was more comfortable Yeah, and I wish I would have taken that leap of faith at 18 years old because I think of what it cost me Didn't just cost me going to school work in doing all this for 10 years my mom now had to work for 10 more years because that intake there is
50:13
[SPEAKER_02]: And so if looking back, I could have made those moves much quicker, my entire family's life would have changed much quicker as well.
50:19
[SPEAKER_02]: Yeah, yeah.
50:21
[SPEAKER_02]: But a lot of times we just, you're fearful.
50:24
[SPEAKER_02]: You're fearful when you want to do something that you've never seen anybody else in your environment, too.
50:28
[SPEAKER_01]: Yeah, sure, sure, sure.
50:30
[SPEAKER_01]: Which is why I feel like this is going to be so freeing for a lot of people.
50:35
[SPEAKER_01]: Because not only have you done it, you've created a system through it, and then you could also teach it, right?
50:44
[SPEAKER_01]: You could also teach other people, help them, you know, get the same type of results.
50:49
[SPEAKER_01]: When you when when you look at
50:52
[SPEAKER_01]: You know, as a financial advisor, I always look at like diversification of funds and things to that nature, you know, you said a hundred million dollars in real estate.
51:02
[SPEAKER_01]: Have you, you know, are you are you also thinking about investing in other things or you're like nah.
51:08
[SPEAKER_01]: die hard real estate son.
51:11
[SPEAKER_01]: I got a 10 and a month off.
51:13
[SPEAKER_02]: No, so I'm going to tell you my game plan is a hundred million dollars in real estate and then I'm gonna exit.
51:20
[SPEAKER_02]: It's like any other bin so I get real estate.
51:22
[SPEAKER_02]: But the assets exit So all of it and now if I sell a hundred million dollars in real estate.
51:28
[SPEAKER_03]: Yeah
51:28
[SPEAKER_02]: Let's say I owe $60 million.
51:30
[SPEAKER_02]: I have $30 million now.
51:33
[SPEAKER_02]: Now I diversify.
51:35
[SPEAKER_02]: Now I create the six years of income.
51:37
[SPEAKER_02]: Dizzy not to create six years of income with $30 million.
51:40
[SPEAKER_02]: Then to do it with $4,000.
51:42
[SPEAKER_02]: And so that's my mentality of just looking at a real estate building up, make that the baby that's going to really grow and amplify itself.
51:49
[SPEAKER_02]: And then from there in 10, 15 years, sell it, diversifying different assets that are less physically laborous at the end.
51:58
[SPEAKER_01]: Now, that makes sense, and that actually tracks with what we usually say, right?
52:04
[SPEAKER_01]: It's like, if you're going to build multiple streams of income, focus on one first, and then, because the truth of the matter is that, like you said, 90% of millionaires own real estate, but a lot of them, however, when they focus, they focus on one thing, make a lot of money, and the truth of the matter, we didn't really touch on this, but the tax benefit is awesome.
52:27
[SPEAKER_01]: right uh you know you know there's a there's a tax strategy buy borrow die right where you buy a property or you buy something you borrow against it you use that money and because you use that money and it's
52:42
[SPEAKER_01]: Not tax, you know, you can't be tax on it.
52:46
[SPEAKER_01]: You would never pay tax on it.
52:47
[SPEAKER_01]: So now you can enjoy money without taxes.
52:50
[SPEAKER_01]: If you add a layer of life insurance into it, right?
52:55
[SPEAKER_01]: Now you die that life insurance pays off the property.
52:58
[SPEAKER_01]: And now you still still own that property.
53:00
[SPEAKER_01]: It's a whole other.
53:03
[SPEAKER_01]: strategy that we can add to it.
53:05
[SPEAKER_01]: But that actually, you know, you know, allows you to build wealth and enjoy money tax for as well.
53:11
[SPEAKER_02]: Absolutely.
53:12
[SPEAKER_02]: Yeah.
53:12
[SPEAKER_02]: I mean, I know most wealthy families, you're point.
53:16
[SPEAKER_02]: They don't sell their properties.
53:17
[SPEAKER_02]: They'll pass it down to your generation by generation.
53:19
[SPEAKER_02]: The key to doing the refinance is keep getting that tax through money and hold on to that and have it keep paying itself every single month.
53:26
[SPEAKER_02]: So
53:26
[SPEAKER_02]: But to your point, focus on one stream of income, make a lot of money there, and then all we think if I could take $4,000, get to a place where I now own $100 million, I'll really say, what kind of do we do with $30 million?
53:39
[SPEAKER_02]: Right.
53:40
[SPEAKER_02]: Right.
53:42
[SPEAKER_02]: So.
53:43
[SPEAKER_01]: All right.
53:43
[SPEAKER_01]: Do you do any like, you know, any mass classes, any webinars, any challenges, any way that people could kind of learn from you?
53:52
[SPEAKER_02]: Absolutely.
53:53
[SPEAKER_02]: So I do a masterclass on Thursdays at 7 p.m. Eastern time where I teach your strategy.
53:58
[SPEAKER_02]: So I give a ton of game.
54:00
[SPEAKER_02]: I'm not there to give you the fluff, the easy stuff.
54:02
[SPEAKER_02]: I walk you step up on how to do this.
54:04
[SPEAKER_02]: You can go out and execute on it within a 90 day period.
54:07
[SPEAKER_02]: Yeah.
54:07
[SPEAKER_02]: Yeah.
54:08
[SPEAKER_02]: So step by step, how to find the properties, how to understand the strategy, work with the lenders, buy these runs of properties that will catch every single month.
54:14
[SPEAKER_02]: So if people want to learn more about it every Thursday, 7 p.m. Eastern time, I'm on that call.
54:19
[SPEAKER_02]: I'm teaching that class
54:21
[SPEAKER_01]: What's the website that we're going to put in the description as well?
54:23
[SPEAKER_02]: Yeah, you know, the Instagram page is at Cindy West Underscore when you're on my page.
54:28
[SPEAKER_02]: It's the link is in the bio.
54:29
[SPEAKER_02]: Go ahead and register for it again.
54:32
[SPEAKER_01]: And I love that because I like if you're if you're listening.
54:35
[SPEAKER_01]: I don't know what y'all been watching.
54:36
[SPEAKER_01]: But if you haven't been paying attention, like y'all should have your credit card in hand and be ready to be under her tool list because she just gave you the game.
54:46
[SPEAKER_01]: But as I added later, she like forget that.
54:49
[SPEAKER_01]: You can even just come hang with me on Thursday because baby, you might have some questions to answer questions you don't see me on Thursday.
54:55
[SPEAKER_01]: Or that's even better, right?
54:56
[SPEAKER_01]: So Thursday, you could come check her out.
54:59
[SPEAKER_01]: And if you have any questions about the strategy, you could also ask it out as well.
55:06
[SPEAKER_01]: Man, this was good.
55:07
[SPEAKER_01]: This was really, really good.
55:08
[SPEAKER_01]: Is there anything that I did not ask that you like, Tim, ask you should ask me about XYZ that you want to be asked you?
55:19
[SPEAKER_01]: You should ask me, how can people buy three to five rentals in one year?
55:22
[SPEAKER_01]: That's what you should ask.
55:23
[SPEAKER_01]: All right.
55:24
[SPEAKER_01]: So how can people buy three to five, use their rentals?
55:27
[SPEAKER_01]: Yeah.
55:28
[SPEAKER_01]: How can people buy three to five rentals in one year?
55:31
[SPEAKER_02]: I got you.
55:32
[SPEAKER_02]: Step by step.
55:33
[SPEAKER_02]: Yeah.
55:33
[SPEAKER_02]: You got to find your first property under 150 grand.
55:36
[SPEAKER_02]: Use a lender is going to find it's 100% like a turnist capital.
55:40
[SPEAKER_02]: Go ahead.
55:40
[SPEAKER_02]: You get a hundred percent financing on the buy, hundred percent on the rehab.
55:44
[SPEAKER_02]: Takes you about nine days or run away the property and you can go and do your refinance within 90 days.
55:48
[SPEAKER_02]: Now you go ahead, you refinance, you pull up, go to the property, you go now and you buy duplex.
55:53
[SPEAKER_02]: Go ahead, you buy the duplex to the same exact strategy.
55:56
[SPEAKER_02]: You're three months in.
55:56
[SPEAKER_02]: So now if we had another three months, now we're six months in with the duplex, we have three rental units at that point.
56:02
[SPEAKER_02]: Repeat the entire process.
56:03
[SPEAKER_02]: Now you go ahead, your six seven months into the, into the journey, what do you do next?
56:09
[SPEAKER_02]: Buy a duplex, buy a triplex, buy a fourplex,
56:12
[SPEAKER_02]: And now, let's see about four clicks.
56:15
[SPEAKER_02]: You bought a house, then you bought a duplex, then you bought a fourplex.
56:17
[SPEAKER_02]: How many is your now?
56:18
[SPEAKER_02]: That's seven.
56:20
[SPEAKER_02]: Seven runs with units within a year.
56:22
[SPEAKER_02]: Using the bank's money, cash flowing assets, equity.
56:26
[SPEAKER_02]: That's it.
56:27
[SPEAKER_02]: How come on?
56:28
[SPEAKER_01]: Man!
56:28
[SPEAKER_01]: Listen, y'all, if y'all, y'all, it's not playin' with Sidney West.
56:32
[SPEAKER_01]: If y'all, if y'all not hitting the link, if y'all not pausing this right now, if you're not hitting the more button and hitting the description, or if you're not, if you're listening to the audio version, if you're not joining that masterclass right now, then you are not serious about generational wealth.
56:48
[SPEAKER_01]: You're not serious about freedom.
56:49
[SPEAKER_01]: You're not serious about making sure that your life goes to the next level, because this is
56:55
[SPEAKER_01]: like I like I need to get back into the game because I'll be honest you're like I said I I think my issue has been I've never done burdo right yeah yeah yeah yeah yeah yeah you know I'm saying like most of the times I was trying to use my own money and so I was buying properties I was and and then that and that and his the other piece of it though too is that
57:17
[SPEAKER_01]: There's an emotional attachment for me using my own money, right?
57:20
[SPEAKER_01]: Because like I'm now I'm like, nah, I had the I had the work offered is so I need this that I need's mine.
57:27
[SPEAKER_01]: So I'm watching it closely and even from a mindset, right?
57:31
[SPEAKER_01]: And I look, I'm about to hold you because I know about the wrap up, but that's the other thing I want to ask though too about mindset, right?
57:39
[SPEAKER_01]: Because I know for me,
57:40
[SPEAKER_01]: Um, you know, I believe words have power energy has power and so for me because I'm using my own money And I'm emotionally attached to money that I actually had to work for in my mind I'm putting the energy out there of like, you're this has to work
57:57
[SPEAKER_01]: like this has to work, this like if this doesn't work, like now I need my money back and so I'm putting the wrong energy out there which is in turn and hindsight give me the result, the result that I don't want anyway because that's what I'm focusing on.
58:10
[SPEAKER_01]: So how important it is like maintaining the right mindset as you're doing this as well.
58:16
[SPEAKER_02]: I would say just maintaining neutral to it.
58:18
[SPEAKER_01]: Yeah.
58:18
[SPEAKER_02]: So neutral and discipline to what the strategy is.
58:21
[SPEAKER_02]: Yeah.
58:21
[SPEAKER_02]: I got to buy the property.
58:22
[SPEAKER_02]: I just got I got to renovate enough to increase it to that property.
58:25
[SPEAKER_02]: Did I rent it out and I'm doing all that with the bank's money?
58:29
[SPEAKER_02]: I do think and I want to assume this.
58:32
[SPEAKER_02]: If I would use my own money, I would feel more tied to it.
58:34
[SPEAKER_02]: Right.
58:35
[SPEAKER_02]: But I hate using my own money and I don't use my own money.
58:39
[SPEAKER_02]: I just use the banks money, and so I think it's about being disciplined to what the strategy is, following the steps not getting any more creative within not making it more difficult than what it is, because at the end of the day, the truth is that we're not the first people to do the strategy.
58:53
[SPEAKER_02]: This is a strategy that, again, the wealthy people do buying 200 units of buildings, people are doing it 10, 20, 50, 100 years ago.
59:01
[SPEAKER_03]: Yeah.
59:01
[SPEAKER_02]: All you gotta do is say discipline through it, and buy it, renovate it, rent it out,
59:08
[SPEAKER_01]: Cindy West, ladies and gentlemen.
59:11
[SPEAKER_01]: I mean, what more can I say?
59:13
[SPEAKER_01]: Um, we're getting people five, you're like, this is really really good.
59:18
[SPEAKER_01]: Look, I think you are, I'm telling you, I need you to share this and here's the other thing though, too, right?
59:23
[SPEAKER_01]: Don't even just join the Masterclass by yourself.
59:26
[SPEAKER_01]: Go tell your friends and your family.
59:29
[SPEAKER_01]: Like, and that's the beauty of it.
59:31
[SPEAKER_01]: She's doing this with her family, right?
59:33
[SPEAKER_01]: And so go grab, and you know what, that's probably what I'm gonna do.
59:37
[SPEAKER_01]: I'm gonna call my sister and we're gonna actually try to do it together in that way.
59:41
[SPEAKER_01]: Yeah, I think I'm gonna do that too.
59:43
[SPEAKER_01]: So listen, like this is what you gotta do.
59:44
[SPEAKER_01]: Look, share this with 10 of your friends and family,
59:49
[SPEAKER_01]: make sure you're joined her master class on Thursday so you can learn step by step how to implement this process so you can build generation of wealth and people want to connect with you and where can they find you?
1:00:01
[SPEAKER_02]: Absolutely Instagram at Cindy West Underscore.
1:00:04
[SPEAKER_02]: I'm on there.
1:00:05
[SPEAKER_02]: I'm always posting my reels giving value, giving the lenders, they was like, wait, what lenders?
1:00:10
[SPEAKER_02]: Go on my page.
1:00:12
[SPEAKER_02]: They're all there.
1:00:12
[SPEAKER_02]: I give a lot of free game and kind of what you said Look, if you're not only looking to build walls for yourself, but you want family legacy to Bring your family in.
1:00:21
[SPEAKER_02]: That's the biggest part of it.
1:00:22
[SPEAKER_02]: That's the biggest blessing that I have not that I can just do this But I get to do it with my entire family.
1:00:28
[SPEAKER_02]: Yeah
1:00:28
[SPEAKER_01]: I love it.
1:00:29
[SPEAKER_01]: All right, Joe, we are closing out the vault, another awesome episode of Inside The Vault with Ashcast, the greatest money mindset show on the planet.
1:00:37
[SPEAKER_01]: This show was fire.
1:00:38
[SPEAKER_01]: I need you to take action immediately.
1:00:41
[SPEAKER_01]: Not yesterday, not tomorrow, but right now, I need you to take action.
1:00:46
[SPEAKER_01]: Make sure you are a visitor inside the vault show dot com, follow us on all social media platforms at
1:00:52
[SPEAKER_01]: Inside the vault me I am asked cash make sure you visit me.
1:00:55
[SPEAKER_01]: I am asked cash.com Follow me on social media platforms at I am asked cash make sure you join the abundance community Where we teach you that abundance is your birthright go to the abundance community.com I will I'll see you on Thursday.
1:01:10
[SPEAKER_01]: You got me in the in the best class with you, but I'll see you next time same time, same place in God's will peace