Latest / Motion and Success / She Went From Chemical Engineer to 100+ Doors (No Money Down) ft. Jhanel Wilson

Transcript

She Went From Chemical Engineer to 100+ Doors (No Money Down) ft. Jhanel Wilson · Motion and Success

• 0:00
  [SPEAKER_00]: Every industry has a few people who change the game.
• 0:04
  [SPEAKER_00]: In real estate, she's one of them.
• 0:07
  [SPEAKER_01]: Janelle built something serious from nothing.
• 0:10
  [SPEAKER_00]: Her story didn't start with wealth.
• 0:12
  [SPEAKER_00]: It started with pressure.
• 0:14
  [SPEAKER_01]: She turned the struggle into strategy, and from there, built a real estate legacy, meet Janelle Wilson.
• 0:20
  [SPEAKER_02]: Real estate is your other way of making lump sums of money.
• 0:22
  [SPEAKER_02]: So I made my first lump sum of money, and I got to keep the house making $400 a month.
• 0:27
  [SPEAKER_02]: So once I learned that, I started using my credit cards.
• 0:29
  [SPEAKER_02]: A lot of people, they only aim for low cash phone numbers, but that's typically if they're making more money somewhere else.
• 0:35
  [SPEAKER_05]: You just save on taxes or just organize everything up together.
• 0:39
  [SPEAKER_02]: Save on taxes, real estate investors don't pay taxes.
• 0:43
  [SPEAKER_02]: We have this fake credit called depreciation.
• 0:46
  [SPEAKER_02]: It's not even a real thing.
• 0:48
  [SPEAKER_02]: The house doesn't have to be anything special.
• 0:50
  [SPEAKER_02]: It doesn't have to be the same as building a code.
• 0:52
  [SPEAKER_03]: So the people that are actually out there, like they may say it's risky to pull from their floor, okay?
• 0:58
  [SPEAKER_02]: They were buying houses, taking out all the cash.
• 1:01
  [SPEAKER_02]: They were doing stated income loans.
• 1:03
  [SPEAKER_02]: They weren't verifying anything.
• 1:04
  [SPEAKER_05]: What's your strategy that's been working for you in the system, you?
• 1:08
  [SPEAKER_02]: My strategy straight up is,
• 1:11
  [SPEAKER_05]: Before we jump into this episode, if you are a coach, consultant, service provider, and you're relying on referrals running as that's causing you way too much money and that aren't working, you need to hear this.
• 1:24
  [SPEAKER_04]: Most people in your position are sitting on a gold mine of expertise, but nobody knows it, not because you're not good at what you do, but because you don't have a content system that is consistently bringing you in paying clients every single week.
• 1:39
  [SPEAKER_05]: That's exactly why we built the motion content to client system.
• 1:42
  [SPEAKER_05]: And this Thursday, we are hosting a completely free class, literally showing you how to turn every single viewer into a buyer.
• 1:51
  [SPEAKER_05]: So that way, you're not just posting content, just posting online, but you're posting content with the intention and with the purpose of turning these viewers into buyers.
• 2:00
  [SPEAKER_05]: And it requires a system which we're going to break down.
• 2:03
  [SPEAKER_05]: going to show you how to use organic content strategies like reals short form video to attract qualified clients to your business.
• 2:11
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• 2:14
  [SPEAKER_04]: We hope Brianna Johnson to be able to follow our same exact content system and generate well over $100,000 plus within months.
• 2:22
  [SPEAKER_04]: All by following the same exact content system.
• 2:25
  [SPEAKER_04]: Check us out at motioninsuccess.com.
• 2:27
  [SPEAKER_04]: Now let's get back to the episode because this one
• 2:30
  [SPEAKER_04]: Alright y'all, welcome back to another episode of Motion in Success.
• 2:33
  [SPEAKER_04]: Listen guys, my name is Cody Brown, I got my co-host for me today.
• 2:35
  [SPEAKER_05]: It's Iowa and Bro, we're back with another amazing episode.
• 2:39
  [SPEAKER_05]: I'm really excited for this one.
• 2:40
  [SPEAKER_03]: I'm excited for this one too, because listen, today we're going to be interviewing a young lady.
• 2:44
  [SPEAKER_03]: Her name is Janelle Wilson.
• 2:46
  [SPEAKER_03]: She is a former chemical engineer by trade, and now she is a full-time investor invested into the real estate industry.
• 2:55
  [SPEAKER_03]: She has a hundred plus doors in the state of Pennsylvania.
• 2:58
  [SPEAKER_03]: And now she's coming back to teach you guys how you guys can go out there and do the same exact thing for yourselves.
• 3:04
  [SPEAKER_03]: So if you guys are looking to learn how to invest into real estate and by section eight properties and also do the burst strategy, this is the podcast that you want to tune into from the start.
• 3:14
  [SPEAKER_03]: all the way over to the end.
• 3:16
  [SPEAKER_03]: So, listen guys, let's go ahead and introduce our guests for today.
• 3:19
  [SPEAKER_03]: Janelle Wilson, go ahead and introduce yourself.
• 3:22
  [SPEAKER_03]: Tell the people who you are.
• 3:24
  [SPEAKER_02]: Hi everyone.
• 3:25
  [SPEAKER_02]: I'm Janelle Wilson.
• 3:26
  [SPEAKER_02]: I'm a real estate investor.
• 3:27
  [SPEAKER_02]: I've been investing for 20 years.
• 3:30
  [SPEAKER_02]: I started when I was 22 by saving my dad's house from Chericelle in auction and being demolished.
• 3:36
  [SPEAKER_02]: And now I have up to my hundred doors.
• 3:38
  [SPEAKER_02]: Yeah.
• 3:39
  [SPEAKER_03]: that's good.
• 3:40
  [SPEAKER_02]: Thanks for having me.
• 3:41
  [SPEAKER_03]: Absolutely.
• 3:41
  [SPEAKER_03]: You're welcome.
• 3:42
  [SPEAKER_03]: Thank you for coming.
• 3:43
  [SPEAKER_05]: Definitely.
• 3:44
  [SPEAKER_05]: It's always good to have people in a real estate industry on because real estate is one of those things that, you know, it can give people their freedom.
• 3:53
  [SPEAKER_05]: Like, you know, it's definitely one of those.
• 3:56
  [SPEAKER_05]: ways on getting your freedom back.
• 3:58
  [SPEAKER_05]: So I definitely do want to jump into your backstory.
• 4:00
  [SPEAKER_05]: Like, you know, even you just mentioned, you said your way of getting into real estate.
• 4:05
  [SPEAKER_05]: First of all, you got into it when you was 22 and your way of getting into it was because your dad's house ended up, you know, almost being taken.
• 4:14
  [SPEAKER_05]: So tell me a little bit about, you know, life growing up, you know, what led to your dad's house almost being taken.
• 4:22
  [SPEAKER_02]: really.
• 4:23
  [SPEAKER_02]: Yeah, I mean.
• 4:27
  [SPEAKER_02]: Oh my goodness.
• 4:28
  [SPEAKER_02]: Okay.
• 4:28
  [SPEAKER_05]: It's definitely a story a lot of people.
• 4:31
  [SPEAKER_05]: You know they would want to know.
• 4:32
  [SPEAKER_05]: So tell us a little bit about that.
• 4:33
  [SPEAKER_02]: Okay.
• 4:34
  [SPEAKER_02]: I give you a brief history.
• 4:35
  [SPEAKER_02]: So my dad was doing pretty well for himself.
• 4:37
  [SPEAKER_02]: He was the first and his family to go to college.
• 4:41
  [SPEAKER_02]: He met my mom, moved to suburb, got married, had us, had a nice big house.
• 4:46
  [SPEAKER_02]: We had a creek in the backyard.
• 4:47
  [SPEAKER_02]: Things were beautiful.
• 4:49
  [SPEAKER_02]: But then he got one drugs.
• 4:50
  [SPEAKER_02]: And so he let everything go and I didn't know at this time.
• 4:54
  [SPEAKER_02]: I didn't find out he was on drug until I had graduated from college.
• 4:56
  [SPEAKER_02]: But he left my mom.
• 4:59
  [SPEAKER_02]: Loss's job was living in his dad's old house and just let himself go.
• 5:02
  [SPEAKER_02]: His kidney's failed.
• 5:04
  [SPEAKER_02]: Everything just got really sick.
• 5:05
  [SPEAKER_02]: But yeah, so the house got was vacant for over 15 years before I forward went up to share sale.
• 5:11
  [SPEAKER_02]: It was a perfect timing because I was able to take her over.
• 5:14
  [SPEAKER_02]: But yeah, drugs.
• 5:15
  [SPEAKER_05]: Wow, and what, like, what really motivated you to save it, because some people might have just looked at it and they're like, hey, you know, it is what it is.
• 5:25
  [SPEAKER_02]: Um, well, you know what, I remember being younger, because my grandmother's house was the same block, and he was giving me some money.
• 5:31
  [SPEAKER_02]: He went across the street, picked up some money, and gave me his whole fat wallet cash.
• 5:35
  [SPEAKER_02]: And I was like, oh, house across the street.
• 5:37
  [SPEAKER_02]: It was money.
• 5:38
  [SPEAKER_02]: So that was all I knew.
• 5:39
  [SPEAKER_02]: I was always into money.
• 5:40
  [SPEAKER_02]: I had my first make it count as seven.
• 5:42
  [SPEAKER_02]: So when I saw that, I just knew that house equal to money.
• 5:45
  [SPEAKER_02]: I didn't know about real estate or all the things that could do, but I just knew money.
• 5:49
  [SPEAKER_02]: Yeah.
• 5:50
  [SPEAKER_05]: At that time, were you like in school, like, you know, like, were you like, almost graduate because you was young?
• 5:56
  [SPEAKER_02]: Yeah, I was in my last year of college.
• 5:58
  [SPEAKER_02]: I hadn't thought about that property in forever, but my grandmother called me and said it was about to go to share a cell, and if I wanted to get it, I had to come save it.
• 6:05
  [SPEAKER_02]: So still hadn't been inside of it.
• 6:07
  [SPEAKER_02]: I got a student loan and paid 5,000 in back taxes, which is a lot.
• 6:12
  [SPEAKER_02]: to a 20-year-old in 2004, had no job, had no savings or anything like that, so I just paid it.
• 6:18
  [SPEAKER_02]: And when I went inside of it for the first time when I graduated, it was a total show.
• 6:22
  [SPEAKER_02]: I had no wall on the back, no ceiling, some of the fours were missing.
• 6:25
  [SPEAKER_02]: I didn't know what to do.
• 6:27
  [SPEAKER_02]: And I put the pliable back up and went back to work, so I was going to max out my Roth.
• 6:31
  [SPEAKER_02]: And then I found out that the city was one tear down.
• 6:34
  [SPEAKER_02]: I had to go get the violations, hire a contractor, and paid him with a cash advance on the credit card.
• 6:41
  [SPEAKER_02]: And this is when the colleges had all these credit cards on campus, give a free t-shirt that card came in handy by did a cash advance from a credit card and paid a foot of violations and got it off the demo list.
• 6:52
  [SPEAKER_02]: At that point, I spent $10,000, I had no idea what to do, because it still had to be rehabbed.
• 6:58
  [SPEAKER_02]: And I found out about doing a drive by appraisal.
• 7:02
  [SPEAKER_02]: back then they were doing dry by praises not going inside properties and giving out loans home equity loans and people were doing this rampant was just part of what calls a housing crash so outside was nice it was paying it had new windows inside total shell but the house of praises for $70,000 I got a loan for $63 but it had mortgage on it or woulder leaves more taxes on one of them getting $18,000.
• 7:26
  [SPEAKER_02]: I took the $18,000
• 7:28
  [SPEAKER_02]: hired at the same contractor, finished it, rented it out, was making $11.50 a month.
• 7:33
  [SPEAKER_02]: I was in my paycheck, my paycheck was $1,041 at the time.
• 7:37
  [SPEAKER_02]: And I was like, oh snap, real estate is this thing.
• 7:40
  [SPEAKER_02]: After I paid my mortgage, my payment, I made $700 a month, which was a lot of money.
• 7:44
  [SPEAKER_02]: Even today, but in 2004, to a $20,000, a lot of money.
• 7:48
  [SPEAKER_02]: Yeah, so yeah, so I realized then that real estate was my ticket because I always wanted to save a lot of money I wanted to be a stay-a-home mine because my mom was and I thought the key there was saving and stacking it to save my whole paycheck And I want to have a million dollars by the age of 30, which wasn't going to happen But I realized what real estate I can make that money every month.
• 8:07
  [SPEAKER_02]: You know not have to delete my money and I read the book Rich that poor debt cash will call it for the first time and in it
• 8:15
  [SPEAKER_02]: I learned how to wealthy become wealthy.
• 8:16
  [SPEAKER_02]: And that's by accumulating cash loaning assets.
• 8:20
  [SPEAKER_02]: Humane cash loaning assets was exactly what I bought, but my first property, I did it all with debt.
• 8:24
  [SPEAKER_02]: It was my still loan, my credit card, and then I home equity loan, I learned what good debt was.
• 8:30
  [SPEAKER_02]: And then I kept going.
• 8:31
  [SPEAKER_02]: My next property was another dueplex.
• 8:33
  [SPEAKER_02]: May not $100 a month, and I said, okay, it wasn't a fluke.
• 8:36
  [SPEAKER_02]: I can keep doing this.
• 8:37
  [SPEAKER_02]: My third property, I made money off of that.
• 8:39
  [SPEAKER_02]: And then my fourth one is when I kind of hit the snag of my debt income being too high.
• 8:44
  [SPEAKER_03]: Mm, wow.
• 8:45
  [SPEAKER_03]: Wait, so how did you get a student loan to get covered?
• 8:48
  [SPEAKER_03]: Like, how did you use a student loan to cover a back mortgage back then they were get, yeah, yeah, yeah, I just applied for I just applied for a loan and it gave to me like a student's get money so easily.
• 9:00
  [SPEAKER_02]: I mean, there are some people who actually use to loan a bar real estate because you don't have to pay them until years later.
• 9:06
  [SPEAKER_03]: Oh, oh.
• 9:06
  [SPEAKER_02]: Yeah, that's the whole another hack.
• 9:07
  [SPEAKER_02]: People should definitely be taking a refund checks, taking their student loans and getting in the real estate.
• 9:13
  [SPEAKER_02]: Yeah, some people do it.
• 9:14
  [SPEAKER_03]: Not for that we got sticks to this inch.
• 9:17
  [SPEAKER_03]: Wait, so hold on.
• 9:17
  [SPEAKER_03]: So like a person will go, are they still going to school?
• 9:21
  [SPEAKER_02]: Yeah, it's still going to school.
• 9:22
  [SPEAKER_02]: That's how they get in all the money.
• 9:23
  [SPEAKER_02]: Yes, it's still going to the degree.
• 9:26
  [SPEAKER_02]: Yeah, some people get big refunds.
• 9:27
  [SPEAKER_02]: Like the football players, they get big refund checks.
• 9:30
  [SPEAKER_03]: And now, some of them are getting paid to play football now.
• 9:35
  [SPEAKER_05]: But even with the, even with the refund checks, I still remember because, you know, I didn't qualify for it, but I had friends who did and they'll just go blow the money on designer stuff.
• 9:45
  [SPEAKER_05]: I know exactly what you're talking about.
• 9:48
  [SPEAKER_05]: So the fact, you know, you actually went out and got a loan and actually, you know,
• 9:57
  [SPEAKER_05]: That house, because even going through the demolition part, I'm like, how would it probably then gave her right now?
• 10:03
  [SPEAKER_02]: No, I spent $10,000 on this house and didn't know what that slide is bit what to do, but I was just determined and I let the part out that someone offered me $45,000 for this house, which helped me realize the value.
• 10:14
  [SPEAKER_02]: If he would've offered me 20 grand or probably would've sold it, but he offered me $45 grand, I figured I didn't knew I didn't know what I had, so I figured that's why I would keep it.
• 10:23
  [SPEAKER_03]: So who was teaching you at that time I had to be able to go up?
• 10:26
  [SPEAKER_02]: I had nobody.
• 10:27
  [SPEAKER_02]: It was me and my grandmother just trying to figure things out.
• 10:30
  [SPEAKER_02]: Or she was like, I think she should get the roof fixed.
• 10:31
  [SPEAKER_02]: I was like, okay, let's get the roof fixed.
• 10:33
  [SPEAKER_02]: Yeah, so then once I met the contract with her, he helped me a lot.
• 10:36
  [SPEAKER_02]: He actually told me the number to section eight.
• 10:38
  [SPEAKER_02]: He told me how to find the tenants.
• 10:40
  [SPEAKER_02]: I put an added newspaper.
• 10:41
  [SPEAKER_02]: We did newspapers back then.
• 10:43
  [SPEAKER_02]: And people were calling me to,
• 10:45
  [SPEAKER_02]: for the rental and they, they were great tennis.
• 10:48
  [SPEAKER_02]: One of them is still there.
• 10:48
  [SPEAKER_02]: 22 years later, still there.
• 10:51
  [SPEAKER_02]: Wow.
• 10:52
  [SPEAKER_02]: Yes, they're right.
• 10:52
  [SPEAKER_02]: We're from 550.
• 10:53
  [SPEAKER_02]: Now it's up to $1,300 a month.
• 10:56
  [SPEAKER_02]: So yeah, the prices of the house goes up and the rent goes up.
• 10:59
  [SPEAKER_03]: in the property I'm sure is probably free and clear at this point.
• 11:02
  [SPEAKER_02]: Yep, yep, that's my first one paid off.
• 11:04
  [SPEAKER_02]: My first two paid off.
• 11:05
  [SPEAKER_02]: Wow.
• 11:06
  [SPEAKER_05]: Something I did when I highlight too is you said your first contract that like, you know, he helped you out.
• 11:12
  [SPEAKER_05]: You helped you out.
• 11:13
  [SPEAKER_05]: So that's it.
• 11:13
  [SPEAKER_05]: We know here too.
• 11:14
  [SPEAKER_02]: Oh, I mean, he did wind up disappearing, but he did help me.
• 11:18
  [SPEAKER_02]: And I love my contract.
• 11:20
  [SPEAKER_02]: My contract is the one I have now.
• 11:21
  [SPEAKER_02]: We've been working together for 15 years.
• 11:24
  [SPEAKER_02]: They won't let me borrow money if I wanted to.
• 11:26
  [SPEAKER_03]: Yeah, yep, that she did, but yes, so now fast for like how are you able to find these contractors and like how are you able to build the trust with them because a lot of people they have Horace stories when it comes to dealing with contractors like what's your go to strategy?
• 11:43
  [SPEAKER_02]: So you find contractors where contractors are.
• 11:45
  [SPEAKER_02]: I found my first one at license and inspections, because that's where I was finding out by my violations.
• 11:50
  [SPEAKER_02]: You know, those are licensed in a short there, but you can also find them at Home Depot hardware stores.
• 11:54
  [SPEAKER_02]: I still find mine on Craigslist.
• 11:56
  [SPEAKER_02]: I had someone last week where I had a sewage back up over the weekend so my guys went working.
• 12:00
  [SPEAKER_02]: I put it at out for $5.
• 12:01
  [SPEAKER_02]: I listed it for $100 clean up, and it came in two hours and cleaned it up.
• 12:04
  [SPEAKER_02]: So Craigslist is always an option.
• 12:06
  [SPEAKER_02]: There's handy.com, thumbtack.com, so there's apps now, and yeah, hardware stores and lumber stores, if needed, may single to a cement yard, so the panel, what type of contractor you need, you go to where they work.
• 12:19
  [SPEAKER_02]: So I'm plumbing art, I'm plumbing store for a plumber.
• 12:22
  [SPEAKER_02]: Very easy.
• 12:23
  [SPEAKER_05]: Sorry to break this amazing episode.
• 12:25
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• 12:26
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• 12:30
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• 13:07
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• 13:30
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• 13:33
  [SPEAKER_05]: And in terms of like paying the contractors because that's where a lot of people screw up.
• 13:38
  [SPEAKER_05]: Yeah, what is some ways that
• 13:41
  [SPEAKER_05]: You know, you incentivize the contractors, but also make sure you know they get the job done.
• 13:46
  [SPEAKER_02]: Yes.
• 13:46
  [SPEAKER_02]: So never pay a contract at 50% upfront.
• 13:49
  [SPEAKER_02]: Like that's out the door.
• 13:50
  [SPEAKER_02]: Any contract who has money, they should not be asking for a large lump sum.
• 13:55
  [SPEAKER_02]: They just need a money to know that you're going to pay them and to get the job started.
• 13:59
  [SPEAKER_02]: Because a lot of contractors, they have accounts at the electric store and all these places.
• 14:03
  [SPEAKER_02]: So they should be able to get their own stuff.
• 14:05
  [SPEAKER_02]: But,
• 14:06
  [SPEAKER_02]: If you are going to pay a contract of front, I typically don't pay more than 10%, so if you have a job that's 100 grand or 80 grand, you should not be paying more than $8,000.
• 14:15
  [SPEAKER_02]: Because the first week is demo.
• 14:17
  [SPEAKER_02]: Demo does not cost a lot.
• 14:18
  [SPEAKER_02]: You buy dumps served for $1,000.
• 14:21
  [SPEAKER_02]: Pay them at the end of the week.
• 14:22
  [SPEAKER_02]: So I even tell them, I said, listen, if we're the first time we're going to get that said, listen, first time we're going to gather.
• 14:27
  [SPEAKER_02]: How about I pay you enough for the dumpster and then I pay for the first week after the demo is done?
• 14:31
  [SPEAKER_02]: I see how they work.
• 14:32
  [SPEAKER_02]: I see we have problems, see if there's any conflict resolution that we have to resolve.
• 14:36
  [SPEAKER_02]: Long things go well, we keep going.
• 14:38
  [SPEAKER_02]: But I never give a first contractor, first time we're going to have the whole job.
• 14:43
  [SPEAKER_02]: So I give them the demo, I give them the window, I give them the roof.
• 14:46
  [SPEAKER_02]: And if that goes well, then I give them more of the job.
• 14:48
  [SPEAKER_02]: But he will have his eyes to be open, like, oh, I get this whole job.
• 14:52
  [SPEAKER_02]: It's an impression you for that job.
• 14:54
  [SPEAKER_02]: It's just be like,
• 14:56
  [SPEAKER_02]: I don't have enough money for the whole job.
• 14:57
  [SPEAKER_02]: So I have enough for these few things, and they'll give you a call.
• 15:00
  [SPEAKER_02]: But if they go well, you get them more.
• 15:01
  [SPEAKER_02]: If they don't, you find somebody else.
• 15:03
  [SPEAKER_02]: But yeah, don't give them more than 10% upfront.
• 15:05
  [SPEAKER_02]: I try to pay them every other week and have like line items for everything that they get done, but yeah, never give them who's like some's upfront.
• 15:13
  [SPEAKER_03]: Yeah, that makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a whole lot, it makes it a
• 15:32
  [SPEAKER_02]: So I'm gonna try it for sure until they realize I know what I'm doing.
• 15:36
  [SPEAKER_02]: But if you're a new woman investor, some people talk about being a boss lady and all these things, but I found that the good contractors, the manly ones who show up every day, who are good, who communicate.
• 15:51
  [SPEAKER_02]: They are ones who don't want to be bossed around you know you have to just be a woman I feel like I am a leader in my feminine energy because I go in there and I give them compliments I already this such a good job.
• 16:02
  [SPEAKER_02]: They love that they have a ego structure the good job And then there's something wrong telling what they did wrong and then Follow up again with how I'll get a job there to do it to stay in which method
• 16:12
  [SPEAKER_02]: And they love that.
• 16:14
  [SPEAKER_02]: They're good contractors.
• 16:14
  [SPEAKER_02]: They love to get complimented.
• 16:15
  [SPEAKER_02]: They only got confident at home.
• 16:17
  [SPEAKER_02]: No one appreciates them.
• 16:18
  [SPEAKER_02]: But you come in and appreciate them.
• 16:19
  [SPEAKER_02]: They will continue working for you.
• 16:21
  [SPEAKER_02]: So yeah, they love working for me.
• 16:22
  [SPEAKER_02]: Like I said, I've had it for 15 years.
• 16:24
  [SPEAKER_03]: Wow.
• 16:25
  [SPEAKER_03]: Yeah, that's that.
• 16:27
  [SPEAKER_03]: That is good.
• 16:27
  [SPEAKER_02]: Yeah, you can't be boss.
• 16:28
  [SPEAKER_02]: You got to be nice and sweet.
• 16:30
  [SPEAKER_03]: Yeah, so do you ever come to the job site like looking this airing way like how do you usually dress like No, I look like a bum.
• 16:37
  [SPEAKER_02]: I come in here with jeans and tins on Yeah, no, I come here looking regular.
• 16:41
  [SPEAKER_02]: I mean, I still look pretty That might help, but no, they like how you treat them.
• 16:46
  [SPEAKER_02]: That's the most important thing.
• 16:47
  [SPEAKER_05]: Yeah, it says I makes it off since
• 16:49
  [SPEAKER_05]: I didn't want to pull back a little bit because you know, something that, you know, we, I don't want to skip over in the beginning that we spoke about.
• 16:56
  [SPEAKER_05]: It was like, you, you, uh, you was a, like, you're a chemical engineer, um, you know, a lot of people watching this, they have nine or five jobs, they have careers, and, you know, they always probably dreamed of getting, getting into real estate.
• 17:08
  [SPEAKER_05]: So, like, walk us through like, you know, how long were, like, we working as a chemical engineer, where it was like your exit plan, like how many doors did you want to get?
• 17:19
  [SPEAKER_02]: I actually had them as a plan.
• 17:20
  [SPEAKER_02]: I had a nice cushy government job.
• 17:22
  [SPEAKER_02]: I got the go there.
• 17:23
  [SPEAKER_02]: I got to leave early on Fridays.
• 17:25
  [SPEAKER_02]: I had every other Monday off.
• 17:26
  [SPEAKER_02]: It was uncomfortable.
• 17:28
  [SPEAKER_02]: But what happened was my main boss, he left, he got a new job, and I got somebody else.
• 17:35
  [SPEAKER_02]: And this guy was a micro manager.
• 17:37
  [SPEAKER_02]: No.
• 17:37
  [SPEAKER_02]: He wanted to be there all day long, because I was taking long lunches, going check out my property.
• 17:41
  [SPEAKER_02]: So I had a ton of food, and but I always got my work done.
• 17:44
  [SPEAKER_02]: I was right in papers.
• 17:45
  [SPEAKER_02]: I didn't have to write papers as a,
• 17:48
  [SPEAKER_02]: the position that I was in.
• 17:49
  [SPEAKER_02]: But I could go above beyond.
• 17:52
  [SPEAKER_02]: When he was in my office at 730 in the morning, when I came in, I was like, oh, this got the stop.
• 17:58
  [SPEAKER_02]: And I put in my, I gave him a lot of time.
• 18:00
  [SPEAKER_02]: I gave him like a two months notice.
• 18:02
  [SPEAKER_02]: But at the same time, I had other male investors in my air saying, you got this, you got all these properties.
• 18:07
  [SPEAKER_02]: I was casual, maybe 60 grand at the time.
• 18:10
  [SPEAKER_02]: I was making 80 here for my job.
• 18:11
  [SPEAKER_02]: So I'm making all this money.
• 18:12
  [SPEAKER_02]: I was single.
• 18:13
  [SPEAKER_02]: I was, I was,
• 18:14
  [SPEAKER_02]: have drinks for everybody to have your hours.
• 18:16
  [SPEAKER_02]: These are pretty sweet.
• 18:17
  [SPEAKER_02]: So I had to first stomach losing this $80,000 month.
• 18:21
  [SPEAKER_02]: I was maxed out my 401k everything.
• 18:23
  [SPEAKER_02]: I left my job at 100g of my 401k.
• 18:25
  [SPEAKER_02]: So I was taking a lot of money.
• 18:27
  [SPEAKER_02]: So I had to come to terms like this is what I meant to do.
• 18:29
  [SPEAKER_02]: I actually took a month off.
• 18:31
  [SPEAKER_02]: When I took that month off,
• 18:33
  [SPEAKER_02]: I saw what I was missing.
• 18:35
  [SPEAKER_02]: I was at one of my properties.
• 18:36
  [SPEAKER_02]: It was a four unit.
• 18:38
  [SPEAKER_02]: Right next door was Offer Sheriff's Hill and I didn't know.
• 18:41
  [SPEAKER_02]: They took the sign down.
• 18:42
  [SPEAKER_02]: But I'm standing out there to take and pictures of this house.
• 18:44
  [SPEAKER_02]: So why am I taking pictures of this house?
• 18:46
  [SPEAKER_02]: My contract says, oh, what's up for sheriff's house?
• 18:48
  [SPEAKER_02]: Are you going to tell me?
• 18:49
  [SPEAKER_02]: I got his house right next door.
• 18:51
  [SPEAKER_02]: You went to tell me.
• 18:52
  [SPEAKER_02]: So I had to run to the bank, get this check.
• 18:55
  [SPEAKER_02]: And I got the property for a half the price of that pay for the one I had.
• 18:58
  [SPEAKER_02]: So I'll pay 60 grand for the one I had.
• 19:00
  [SPEAKER_02]: down when I got for 28,000, which is now we're 400,000 by the way, but I would have never seen that if I wasn't out, if I was at work, I would have missed it.
• 19:09
  [SPEAKER_02]: I was hanging with other investors, going their new job sites, learning new constructions, I think you know what, this is where I should be.
• 19:16
  [SPEAKER_02]: So taking that month off showed me what I was missing when my job was really cost to me.
• 19:20
  [SPEAKER_02]: So I left and I've been hitting the road ever since.
• 19:24
  [SPEAKER_02]: It's been amazing.
• 19:24
  [SPEAKER_02]: I took my $100,000 out of my 401k, bought three properties with it.
• 19:29
  [SPEAKER_02]: those properties made $35,000 a month and have grown in equity.
• 19:34
  [SPEAKER_03]: So yeah, I mean it sounds like this is something it makes sense, but you know for the people that are actually out there like they may say is risky to pull from their 401k.
• 19:46
  [SPEAKER_03]: Like what would you tell a person that they're maybe sitting on a whole lot of money and they also are sitting on a whole lot of different opportunities too.
• 19:54
  [SPEAKER_03]: What would you tell the person like that to be able to start investing?
• 19:57
  [SPEAKER_02]: Well, I will wait till they have proof of concept.
• 19:59
  [SPEAKER_02]: I was already investing at that point.
• 20:01
  [SPEAKER_02]: And I knew that 100 grand can make me more money than just sitting there.
• 20:04
  [SPEAKER_02]: So I know, but once you, a lot of people are used to accumulating money.
• 20:08
  [SPEAKER_02]: They feel safe accumulating.
• 20:10
  [SPEAKER_02]: But what's safe is cash flow.
• 20:12
  [SPEAKER_02]: Having that money come in, putting that money to work for you.
• 20:15
  [SPEAKER_02]: It's not work and making 10%.
• 20:17
  [SPEAKER_02]: You can be making 20% a month off that money from real estate.
• 20:20
  [SPEAKER_02]: So, I think once you see how much you can make for that money, most people do, eventually take out their 401ks.
• 20:27
  [SPEAKER_03]: And then one more thing too, like you said you was able to go and get easily because you've seen a house that was up for basically for sale.
• 20:36
  [SPEAKER_03]: And within, I don't know how long was the time frame you were able to go to the bank and get a check and buy that house.
• 20:43
  [SPEAKER_03]: Like where you typically go in to be able to get financing for your properties.
• 20:50
  [SPEAKER_02]: So what I first started, I was using FHA loans and you know, they had that cap of only getting one house a year.
• 20:56
  [SPEAKER_02]: And when you're casual and 700 bucks and 900 bucks a year, then it's not enough.
• 21:00
  [SPEAKER_02]: You want to keep on as many houses as you want.
• 21:02
  [SPEAKER_02]: And then I did a subject to property where I assumed someone's loan.
• 21:06
  [SPEAKER_02]: And I discovered that that loan was a predatory loan making.
• 21:10
  [SPEAKER_02]: It was charged to me 27 percent.
• 21:12
  [SPEAKER_02]: It was crazy.
• 21:13
  [SPEAKER_02]: So I tried to be finance.
• 21:14
  [SPEAKER_03]: I could put it in normal percentage.
• 21:16
  [SPEAKER_02]: Back then, it was probably maybe 6% or 7%, but 20% percent was predatory loan, yes, yes, it was it was countrywide loans if anyone remembers, but I couldn't refinance out of it with my name, but then I discovered putting houses in your LLC and refinancing with a commercial loan, asset based funding, one side found that out.
• 21:36
  [SPEAKER_02]: They did their appraisal.
• 21:38
  [SPEAKER_02]: The house was where 70 grand alone was for 27 and I got out $30,000.
• 21:43
  [SPEAKER_02]: So I had never got a lump sum of money like that before.
• 21:46
  [SPEAKER_02]: Really state, how does the average person make any lump sum of money?
• 21:51
  [SPEAKER_02]: A lawsuit real estate is your other way of making lump sum of money.
• 21:55
  [SPEAKER_02]: So I made my first lump sum of money and I got to keep the house making $400 a month.
• 21:59
  [SPEAKER_02]: So once I learned that, I started using my credit cards.
• 22:02
  [SPEAKER_02]: I call my credit card as I asked them for a huge line increase.
• 22:06
  [SPEAKER_02]: They gave me $75,000.
• 22:09
  [SPEAKER_02]: They had 0% offers these little bounce transfer checks that you would get in the mail, probably tear up and throw away.
• 22:15
  [SPEAKER_02]: I called them when they said, hey, what does this check?
• 22:17
  [SPEAKER_02]: And they said, you could just take the check and put in your make-and-cow.
• 22:19
  [SPEAKER_02]: I said, really?
• 22:21
  [SPEAKER_02]: So I did that with several cars that I had.
• 22:23
  [SPEAKER_02]: And I went straight to the auction.
• 22:25
  [SPEAKER_02]: So I knew about auction's by never had the cash.
• 22:28
  [SPEAKER_02]: So I took that 30 grand and took my credit cards.
• 22:30
  [SPEAKER_02]: And I bought three single families at auction that year.
• 22:33
  [SPEAKER_02]: Mom was 10,000 and other two were 20,000.
• 22:36
  [SPEAKER_02]: They all appraised for 70 grand ones I fixed a month.
• 22:39
  [SPEAKER_02]: Then I started to network some more and then I learned about hard money loans and that was when things took off.
• 22:44
  [SPEAKER_02]: Yeah.
• 22:45
  [SPEAKER_03]: Wow, that's very interesting.
• 22:46
  [SPEAKER_03]: And how, like, how, like, I'm realizing one of your strategies to buy houses is using credit cards to buy these houses.
• 22:56
  [SPEAKER_03]: How are you able to buy a house using a credit card?
• 22:58
  [SPEAKER_03]: Because we all have these in our wallet.
• 23:00
  [SPEAKER_02]: Yeah, you sure do, it's the easiest money to get.
• 23:02
  [SPEAKER_02]: You call them up, you have to use a car first of all, but you use the car to get credit line increases, get the ones who offer 0% over and over and over again.
• 23:11
  [SPEAKER_02]: And you can either do what I did, use the balance transfer checks, deposit into your account.
• 23:15
  [SPEAKER_02]: There are title companies who will let you swipe your card and buy a house.
• 23:19
  [SPEAKER_02]: You say, yeah, long as it goes through, you can use your credit card.
• 23:22
  [SPEAKER_02]: But if you don't have the option, you can always use plastic, use plastic, and wire the money from your credit card to the title company.
• 23:31
  [SPEAKER_03]: Yeah, that's, that's a lot of the things we'll submit the banks that you go to for those bit those credit cards.
• 23:38
  [SPEAKER_02]: So it can really be the any bank you have a relationship with, but minor old I've had them since college so I had a Wells Fargo one.
• 23:45
  [SPEAKER_02]: I have a hundred thousand with them.
• 23:47
  [SPEAKER_02]: and a city bank, I have 100,000 with them too.
• 23:49
  [SPEAKER_02]: But as long as you have a girl relationship, just keep asking for it increases.
• 23:52
  [SPEAKER_02]: You use it, pay it off, use it, pay it off, ask for increases.
• 23:56
  [SPEAKER_02]: But my students have been getting a lot of money from Chase lately.
• 23:59
  [SPEAKER_02]: They've got 150,000 as a most you can get without having to show any documents.
• 24:03
  [SPEAKER_03]: Wow.
• 24:03
  [SPEAKER_02]: Yeah.
• 24:04
  [SPEAKER_03]: Well, that is absolutely good stuff because a lot of times is, you know, you got to go through the typical traditional financing route when it comes to getting a mortgage, you got to show two years of tax returns, you got to do bank statements.
• 24:20
  [SPEAKER_03]: You got to do all of these, you got to do a huge deposit.
• 24:23
  [SPEAKER_02]: Yeah, they check them that the income now.
• 24:25
  [SPEAKER_02]: You don't have any of that with the real estate investing side.
• 24:28
  [SPEAKER_02]: You know, investors are buying multiple houses at once.
• 24:31
  [SPEAKER_02]: And as long as the deal makes sense to the lender, they'll give you the money.
• 24:35
  [SPEAKER_02]: It does not depend on you, your finances is all on the deal.
• 24:38
  [SPEAKER_05]: Hmm.
• 24:39
  [SPEAKER_05]: That's good.
• 24:39
  [SPEAKER_05]: I wanted to ask you to like, what is your real estate strategy?
• 24:43
  [SPEAKER_05]: Like, I know everybody has their own strategy that they follow, whether it's fix or flip, whether it's like buy and hold Airbnb, you know, Airbnb's, um, the per strategy.
• 24:55
  [SPEAKER_05]: Like, what's your strategy that's been working for you consistently?
• 24:59
  [SPEAKER_02]: My strategy straight up is buying multi-family is fixing them up, right in the map this section eight.
• 25:05
  [SPEAKER_02]: For a while, I just bought them as this to family houses, but then I started converting them.
• 25:10
  [SPEAKER_02]: I'll buy a single family and convert it into a duplex or a triplex or a quad.
• 25:15
  [SPEAKER_02]: So, yes, multi-family because, you know, someone moves out, you're still getting a lot of money.
• 25:18
  [SPEAKER_02]: The cash flow is a lot of these properties and it allows you to buy more expensive properties.
• 25:23
  [SPEAKER_02]: Single-family homes you might buy on for 90,000 might be worth 200,000 when it's fixed.
• 25:28
  [SPEAKER_02]: And three and 20 years it might be worth 600,000.
• 25:31
  [SPEAKER_02]: You buy a multi-family but four apartments in it's worth 600,000 now.
• 25:36
  [SPEAKER_02]: You triple it in 20 years.
• 25:38
  [SPEAKER_02]: It's worth 1.2 million.
• 25:39
  [SPEAKER_02]: That's how my numbers have been going.
• 25:41
  [SPEAKER_02]: I've been doing it for 20 years.
• 25:42
  [SPEAKER_02]: So it's not, it's not theory.
• 25:44
  [SPEAKER_02]: It's logic.
• 25:44
  [SPEAKER_02]: I've been doing it.
• 25:45
  [SPEAKER_02]: So I have the proof to know.
• 25:47
  [SPEAKER_02]: So you get more expensive properties with the multifanies because they pay for themselves.
• 25:53
  [SPEAKER_05]: That makes a lot of sense.
• 25:54
  [SPEAKER_05]: Yeah.
• 25:55
  [SPEAKER_05]: That definitely does.
• 25:56
  [SPEAKER_05]: And we're like, what are some places that you're buying?
• 25:59
  [SPEAKER_05]: Because a lot of people, when they think of real estate, they might be thinking, you're buying all these fancy looking apart of buildings, multi-family, it's like, yeah, no.
• 26:08
  [SPEAKER_02]: The sexiest.
• 26:10
  [SPEAKER_02]: One's on paper, not the sexiest ones in person.
• 26:12
  [SPEAKER_02]: So I buy and see neighbors.
• 26:14
  [SPEAKER_03]: It's interesting too.
• 26:15
  [SPEAKER_02]: Yeah, there is definitely a different between the two.
• 26:17
  [SPEAKER_02]: So I buy and see neighborhoods where it's characterized by a lot of bruntles.
• 26:22
  [SPEAKER_02]: Be neighborhoods.
• 26:23
  [SPEAKER_02]: There are a lot of homeowners who have make a good honest living.
• 26:27
  [SPEAKER_02]: A neighborhoods where there's doctors, surgeons, attorneys, stuff like that.
• 26:31
  [SPEAKER_02]: which I have one product, I have two properties there, which I lived in, which those they don't cash so at all, but they're paying my mortgage, but they're worth $1 million now.
• 26:39
  [SPEAKER_02]: I bought it for 300 grand back in 2011, which was the best time of my properties.
• 26:44
  [SPEAKER_02]: It was a recession and almost like what we're in now, it's also the time of my properties.
• 26:48
  [SPEAKER_02]: But yeah, buying C neighborhoods in Philadelphia,
• 26:52
  [SPEAKER_02]: where you get the most cash flow is in inner cities typically, so they'll be like, really, Baltimore Detroit, some areas of Chicago, those cash flow the best.
• 27:03
  [SPEAKER_03]: And then like when you're not from a certain area like how do you know you bought to actually cake in this area like how you know you bought to make a lot of money in that investment.
• 27:14
  [SPEAKER_02]: So the way I analyze my deals is I look at cashflow, I analyze how much the mortgage is, how much the rents are going to be from section eight, which is often different than what you can get from a private tenant.
• 27:25
  [SPEAKER_02]: And my experience can get more from a section eight tenant.
• 27:28
  [SPEAKER_02]: So once you, you have to visit a place.
• 27:31
  [SPEAKER_02]: I don't recommend buying blind because in some neighborhoods it's blocked by blocks.
• 27:36
  [SPEAKER_02]: You can buy, there could be a house that sells for 200,000 here, 400,000 here, and you might be looking at the map like, oh my house, we're 400,000, no, because your block is different.
• 27:46
  [SPEAKER_02]: So I do recommend going to the area.
• 27:49
  [SPEAKER_02]: Paying a realtor to drive you around and explain the different neighborhoods and deciding then and then taking it from there And then having our boots on the ground.
• 27:56
  [SPEAKER_02]: You got to have a boots on the ground to check on the project if you're not going to be there Is that your property manager?
• 28:01
  [SPEAKER_03]: Yeah, a boots on the ground.
• 28:03
  [SPEAKER_02]: Yeah, no, it's typically it can be but I would like a boots on the ground to be someone who has experience and renovations You can go and Craigslist hire someone say I need someone to check on my property in regular basis
• 28:14
  [SPEAKER_02]: It would be a retired handyman who will go and check on and make sure the contractor is doing things right.
• 28:19
  [SPEAKER_02]: He'll look at it.
• 28:20
  [SPEAKER_02]: He knows what it looks like.
• 28:21
  [SPEAKER_02]: He can talk to them if you want.
• 28:22
  [SPEAKER_02]: But yeah, just have someone going and checking his price list.
• 28:25
  [SPEAKER_02]: And the older people are their cheap, you know, they pay off $50 a go check on a property.
• 28:29
  [SPEAKER_03]: Yeah.
• 28:30
  [SPEAKER_03]: And then like, how are you able to qualify for Section 8, like a lot of these Section 8 programs that are out there?
• 28:37
  [SPEAKER_03]: Like, what does it take to you have to have some kind of financial requirement?
• 28:42
  [SPEAKER_03]: Like, does the House have to look a certain way?
• 28:44
  [SPEAKER_03]: Yeah.
• 28:45
  [SPEAKER_03]: Like, how do you usually get into these programs so that way you can start classroom?
• 28:48
  [SPEAKER_02]: The main thing is you gotta have your paperwork in order.
• 28:51
  [SPEAKER_02]: You gotta pay your taxes if you need rental license.
• 28:53
  [SPEAKER_02]: You gotta have your rental license.
• 28:54
  [SPEAKER_02]: And then they will check to make sure you are paying your taxes sometimes.
• 28:58
  [SPEAKER_02]: But the house doesn't have to be anything special and doesn't have to be the same as building codes.
• 29:03
  [SPEAKER_02]: Some people think the building code, me sectioning code, but no, sectioning codes more habitable.
• 29:07
  [SPEAKER_02]: Is the heat working?
• 29:09
  [SPEAKER_02]: Is the hot water working?
• 29:11
  [SPEAKER_02]: Does your stove work?
• 29:13
  [SPEAKER_02]: Like they don't measure just make sure your steps are right.
• 29:15
  [SPEAKER_02]: So it's just basic stuff that you have to make sure your path is health and safety.
• 29:20
  [SPEAKER_02]: Not
• 29:20
  [SPEAKER_02]: necessarily building code.
• 29:21
  [SPEAKER_02]: So just ask them what the inspection list is.
• 29:24
  [SPEAKER_02]: Just make sure you do all those things.
• 29:25
  [SPEAKER_02]: It's a lot easier to pass inspection thing you think.
• 29:28
  [SPEAKER_03]: What's like one of the most craziest stories you probably remember like when it comes to getting a qualified section eight tenant.
• 29:37
  [SPEAKER_02]: Um, getting tenants, I don't really have any crazy story when it comes to getting them.
• 29:41
  [SPEAKER_02]: I've had some crazy stories after that.
• 29:43
  [SPEAKER_03]: Yeah.
• 29:45
  [SPEAKER_02]: Um, let's see.
• 29:46
  [SPEAKER_02]: I had one who's sued me for sexual assault.
• 29:48
  [SPEAKER_02]: That's probably my craziest tenant.
• 29:51
  [SPEAKER_02]: I didn't find her.
• 29:52
  [SPEAKER_02]: I saw one else got her for me.
• 29:55
  [SPEAKER_03]: Mmm.
• 29:59
  [SPEAKER_05]: Yeah.
• 30:01
  [SPEAKER_05]: I was about to just kind of jump into that too, because a lot of people are here real estate, they're here about the cash flow, they're here about, you know, all the good things, but it's also a different, it's also another side to it where you know, you got to be responsible for tenants, you got tenants who, you know, they might not take care of the property,
• 30:23
  [SPEAKER_05]: not pay rent and depending on the state you are in the water, right?
• 30:26
  [SPEAKER_05]: Yeah, yeah, yeah, she knows quite as all those things.
• 30:30
  [SPEAKER_05]: So like what is some of your experiences dealing with situations like that and like how did you handle it?
• 30:37
  [SPEAKER_05]: Because a lot of people, they're hearing everything about real estate now and then they get into it and they're like,
• 30:43
  [SPEAKER_05]: And like this is another, it's like another nine or five at this.
• 30:46
  [SPEAKER_02]: So you gotta have a little bit of gangster to you.
• 30:49
  [SPEAKER_02]: Like you don't have like, I don't do the stuff but you gotta have some gangster people around you.
• 30:52
  [SPEAKER_02]: For example, I had this one squatter.
• 30:54
  [SPEAKER_02]: He was cutting my wires, cutting my plumbing, peeing in the basement, it's gonna have cameras in there.
• 30:59
  [SPEAKER_02]: Not just something that property but I had four properties on that same block that he was terrorizing.
• 31:03
  [SPEAKER_02]: So I cut his electric, I turned off his water, we even broke out his windows and threw foggers like those bug bombs through the China smoke amount, didn't work, I don't know how he survived, but didn't work.
• 31:15
  [SPEAKER_02]: So one day he attacked the worker, he was choking him.
• 31:19
  [SPEAKER_02]: Ruford jumped off the roof, hit him in a head, bam, blood everywhere.
• 31:23
  [SPEAKER_02]: I get there called a police, got him arrested.
• 31:26
  [SPEAKER_02]: He was arrested.
• 31:27
  [SPEAKER_02]: I called you all packed up all his stuff and put it in the storage.
• 31:32
  [SPEAKER_02]: Yes, it's illegal, I didn't care.
• 31:34
  [SPEAKER_02]: because he was tying up my money.
• 31:36
  [SPEAKER_02]: I have four properties worth $650,000 that I bought for $200,000, and he was making it so I wouldn't make any money.
• 31:44
  [SPEAKER_02]: So what's the worst heck it happened?
• 31:45
  [SPEAKER_02]: We go to court in a month and a half later, I plan on having them out by then though.
• 31:49
  [SPEAKER_02]: So now he's out, he's got out a couple days later.
• 31:53
  [SPEAKER_02]: He's mad of course, and I'm thinking I have the upper hand.
• 31:56
  [SPEAKER_02]: I said, all right, so are you going to leave now?
• 31:58
  [SPEAKER_02]: As soon as you leave, I'll give you the key to your storage.
• 32:00
  [SPEAKER_02]: He pulled my leg for another four weeks saying he was going to leave and never left.
• 32:04
  [SPEAKER_02]: I said, I had enough.
• 32:05
  [SPEAKER_02]: I'm calling the goons.
• 32:06
  [SPEAKER_02]: I should have called him nine months ago, but I called him.
• 32:08
  [SPEAKER_02]: I called him.
• 32:09
  [SPEAKER_02]: He was out in two days.
• 32:10
  [SPEAKER_00]: Mm-hmm.
• 32:12
  [SPEAKER_02]: Two days, he threatened, well, it wasn't a threat.
• 32:14
  [SPEAKER_02]: It was a promise that break his legs and pull him into back at a trunk and he believed them.
• 32:19
  [SPEAKER_02]: Because, best believe I have other people threaten them.
• 32:21
  [SPEAKER_02]: This guy is scary.
• 32:23
  [SPEAKER_02]: He got him out.
• 32:23
  [SPEAKER_03]: Yeah.
• 32:24
  [SPEAKER_03]: That, wait, go on.
• 32:26
  [SPEAKER_03]: That's kind of scary.
• 32:28
  [SPEAKER_03]: Did you got to try some scary ghouls?
• 32:30
  [SPEAKER_02]: No.
• 32:32
  [SPEAKER_02]: No.
• 32:33
  [SPEAKER_02]: Nope.
• 32:34
  [SPEAKER_02]: I did though.
• 32:35
  [SPEAKER_02]: I first I did.
• 32:35
  [SPEAKER_02]: I called all the people from Craigslist to come and scare this guy.
• 32:38
  [SPEAKER_02]: I didn't work though.
• 32:39
  [SPEAKER_02]: They weren't that scary.
• 32:40
  [SPEAKER_02]: If this guy had a,
• 32:41
  [SPEAKER_02]: he had an ex trying to scare him.
• 32:43
  [SPEAKER_02]: It was scary.
• 32:44
  [SPEAKER_02]: I have the whole whole thing.
• 32:45
  [SPEAKER_02]: But yes, no, the goons was a recommendation and I got that recommendation when I first had the issue, but I was like, no, I don't want to get them hurt because he is real scary.
• 32:54
  [SPEAKER_02]: But then finally, nine months later, I did.
• 32:57
  [SPEAKER_02]: I had to pay extension fee of $22,000.
• 32:59
  [SPEAKER_02]: And I said, no, let's let's call the goons.
• 33:04
  [SPEAKER_05]: I was going to, I was going to actually tell my son something.
• 33:07
  [SPEAKER_05]: Some people, you know, they, especially out here in New York, they don't pay the person like, so now you just try that already.
• 33:15
  [SPEAKER_02]: I burned cash for keys plenty of times.
• 33:17
  [SPEAKER_02]: The smile wasn't scared when I bought it with him in there.
• 33:20
  [SPEAKER_02]: I will buy a place with squatters in it because I know how to get them out.
• 33:23
  [SPEAKER_02]: Typically, he just offered them some money and they leave.
• 33:25
  [SPEAKER_02]: He didn't care about that.
• 33:26
  [SPEAKER_02]: He'd been there for a long time, actually.
• 33:28
  [SPEAKER_02]: And yeah, he wanted to stay.
• 33:32
  [SPEAKER_03]: And then, like, not only that, you mentioned that you had a lawsuit situation.
• 33:35
  [SPEAKER_03]: And you just got, you had to go to court and all that stuff.
• 33:40
  [SPEAKER_03]: What happened on that situation?
• 33:41
  [SPEAKER_02]: I didn't mind I'm going to court because it turned out that she lied about it.
• 33:44
  [SPEAKER_02]: There was another tenant that she said assaulted her.
• 33:47
  [SPEAKER_02]: And for some reason, she wanted to me because of it.
• 33:50
  [SPEAKER_02]: And I didn't know that it was fake at the time, so I'm getting these letters in the mail.
• 33:55
  [SPEAKER_02]: The she's depending on all this money.
• 33:57
  [SPEAKER_02]: People on social media sending me DM saying, Oh, that's terrible.
• 34:00
  [SPEAKER_02]: We'll have until you're 10 it.
• 34:01
  [SPEAKER_02]: What do you want to do?
• 34:02
  [SPEAKER_02]: She's sending me texts and saying that there's blood on the walls.
• 34:06
  [SPEAKER_02]: I sent my contractor.
• 34:07
  [SPEAKER_02]: There was nothing on the walls.
• 34:08
  [SPEAKER_02]: It was just clues on the order.
• 34:08
  [SPEAKER_02]: Please.
• 34:09
  [SPEAKER_02]: but I didn't know.
• 34:10
  [SPEAKER_02]: It took a whole year.
• 34:12
  [SPEAKER_02]: He was in jail for a whole year and he turned out to be not guilty because she made it up.
• 34:16
  [SPEAKER_02]: She wouldn't beat herself up and everything.
• 34:20
  [SPEAKER_02]: Yes, and so they still came at to me for six months after we discovered that it was all lie, but they eventually dropped it.
• 34:26
  [SPEAKER_03]: So what did she come after you before?
• 34:29
  [SPEAKER_02]: money.
• 34:30
  [SPEAKER_02]: She just wanted money.
• 34:31
  [SPEAKER_03]: Oh.
• 34:32
  [SPEAKER_02]: Yeah.
• 34:32
  [SPEAKER_02]: Yeah.
• 34:32
  [SPEAKER_02]: So she was also trying to send me from old, but my tenant told me that she never actually moved in.
• 34:38
  [SPEAKER_02]: So she went there maybe at two months later and there had been a leak because she wasn't there.
• 34:42
  [SPEAKER_02]: I didn't know about the leak and so there wasn't old.
• 34:44
  [SPEAKER_02]: But she didn't live there.
• 34:45
  [SPEAKER_02]: So she couldn't really assume you're for the mold.
• 34:47
  [SPEAKER_02]: So she tried to send me for this sexual assault that's not even my fault.
• 34:50
  [SPEAKER_04]: Right.
• 34:51
  [SPEAKER_02]: I hired an attorney because my insurance company doesn't cover sexual assault.
• 34:55
  [SPEAKER_02]: And attorney basically told us, I saw her for something that her insurance covers her for, which they didn't do.
• 35:00
  [SPEAKER_02]: But yeah, they eventually dropped it.
• 35:02
  [SPEAKER_02]: But again, I had a whole year of suit this nice because I felt bad knowing that one of my tenants assaulted someone else.
• 35:08
  [SPEAKER_03]: Which wasn't the truth.
• 35:10
  [SPEAKER_02]: Which wasn't the truth, right?
• 35:11
  [SPEAKER_02]: That's crazy.
• 35:12
  [SPEAKER_05]: Yeah.
• 35:13
  [SPEAKER_05]: In like situations like that,
• 35:20
  [SPEAKER_05]: Like having your business and your L.O.C.s in order, it's kind of like protect itself from lawsuits, getting sued, losing out on money because it would be tenants who do that.
• 35:29
  [SPEAKER_02]: Yeah, I was thinking worst case scenario, I said she could have a house.
• 35:32
  [SPEAKER_02]: Ari, I took out, I do the birth strategies while our refinance already took out the cash, so she could have it if she wants it.
• 35:38
  [SPEAKER_02]: So, but I do have insurance.
• 35:40
  [SPEAKER_02]: You got to have insurance, especially the house is paid off for your employer.
• 35:43
  [SPEAKER_02]: And I do have an L.O.C.
• 35:44
  [SPEAKER_03]: I think insurance.
• 35:46
  [SPEAKER_02]: So there's landlord insurance, just making sure you have liability, liabilities, what protects you from insurance companies.
• 35:53
  [SPEAKER_02]: Some people are cheap and only get fired, but you have to have liability.
• 35:57
  [SPEAKER_02]: And depending on where the house is, the term is how much you need.
• 35:59
  [SPEAKER_02]: If you're in a million dollar neighborhood, get higher insurance because those people want more money they're going to sue you.
• 36:05
  [SPEAKER_02]: Usually people in the hood, they just want $15,000, $50,000, and they'll pay that no problem.
• 36:10
  [SPEAKER_02]: But my policies are typically $500,000, and then get an umbrella policy, which is what I wish I had at the time, because that would have covered me.
• 36:18
  [SPEAKER_03]: What is that one?
• 36:19
  [SPEAKER_02]: So umbrella protection for everything else.
• 36:21
  [SPEAKER_02]: So you have car insurance.
• 36:23
  [SPEAKER_02]: You have life.
• 36:23
  [SPEAKER_02]: Well, you don't kind of life insurance, but you have all these assurances, but it will protect you in case any of those don't cover you.
• 36:30
  [SPEAKER_02]: If your kids can so fight and like hurt somebody, it covers that too.
• 36:34
  [SPEAKER_03]: Yeah, that's good.
• 36:35
  [SPEAKER_03]: That's good.
• 36:36
  [SPEAKER_03]: And then like, are you doing like the LLC for each and every single property that you own?
• 36:41
  [SPEAKER_02]: No, that would be a nightmare.
• 36:43
  [SPEAKER_02]: I had over 40 privacy at one point.
• 36:44
  [SPEAKER_02]: No, so I usually buy a million dollars worth in one LLC and then I open up another one.
• 36:50
  [SPEAKER_02]: So I think I've had a total of seven at one point.
• 36:53
  [SPEAKER_02]: Maybe, yeah, seven or eight.
• 36:57
  [SPEAKER_05]: That's good.
• 36:57
  [SPEAKER_05]: And with all these properties and things like that, how does the end of the year game ready for taxis and things like that?
• 37:05
  [SPEAKER_05]: How do you kind of like,
• 37:07
  [SPEAKER_05]: you to save on taxes or like, you know, just organize everything up together, save on taxes.
• 37:13
  [SPEAKER_02]: Real estate investors don't pay taxes.
• 37:16
  [SPEAKER_02]: We have this fake credit called depreciation.
• 37:20
  [SPEAKER_02]: It's not even a real thing.
• 37:22
  [SPEAKER_02]: You just you reduce all your money by a percentage of the property every year and it all sets the rent that you get.
• 37:28
  [SPEAKER_02]: So you really pay any taxes.
• 37:30
  [SPEAKER_02]: A lot of people who make a lot of money invest in real estate just to save on taxes.
• 37:34
  [SPEAKER_02]: But I save on taxes and I make cash flow.
• 37:37
  [SPEAKER_02]: and appreciation.
• 37:38
  [SPEAKER_02]: The appreciation is a cheat code.
• 37:42
  [SPEAKER_02]: People don't know how much money you don't pay because of the appreciation.
• 37:45
  [SPEAKER_02]: How about when you sell a property now because they also say when you're selling property that's the problem because they recapture all that money yeah so you have to say that you put all this money into it And that sucked up all that all the money that you made and just try to break even if if you make a lot of money But yeah, the goal is to make a lot of money from the cash flow and do a 1031 exchange so that you don't have to pay those taxes
• 38:09
  [SPEAKER_03]: And typically do you ever sell your properties or you're always keeping this?
• 38:12
  [SPEAKER_02]: So I kept them for a long, long time.
• 38:15
  [SPEAKER_02]: I sold my first one a few years ago, mostly because my ex had properties together and we decided to start selling them.
• 38:23
  [SPEAKER_02]: I started selling them and wasn't as bad as I thought, actually, I cried them at first, I cried in the first one because I was still used to keep in real estate, but I've not been selling so I've been selling the ones with him and I've been selling my problem properties.
• 38:36
  [SPEAKER_02]: and I'm shrinking down a little bit and I want to start a fashion line and I'm like this real estate is kind of holding me back.
• 38:41
  [SPEAKER_02]: But yeah, I'm ready for my next business.
• 38:44
  [SPEAKER_02]: So yeah, I'm going to keep my favorites.
• 38:46
  [SPEAKER_05]: That sounds exciting.
• 38:48
  [SPEAKER_05]: How was um, because I'm pretty sure you was probably just new and real estate at that point, but 2008, like how was that experience for you?
• 38:56
  [SPEAKER_02]: So I started in 2004, and because I focused on cash.
• 39:00
  [SPEAKER_02]: So what people were doing is they were buying houses, taking out all the cash, they were doing stated income loans, so they weren't verifying anything.
• 39:08
  [SPEAKER_02]: It's almost like how it is now on an investor side, but on a regular residential side.
• 39:13
  [SPEAKER_02]: So people were doing those drive-by appraisals, taking out cash, and the house wasn't renovated on the inside.
• 39:19
  [SPEAKER_02]: So what it crashed because I wasn't doing any of that and I was messing for cash flow.
• 39:23
  [SPEAKER_02]: I was fine So my house was we're cash flowing a ton of money.
• 39:26
  [SPEAKER_02]: I didn't even really know what was going on until All we were on the other side of the house was for stupid cheap They were renovated houses being sold for 20,000 dollars So yeah, that's how I was able to buy so many in auction.
• 39:38
  [SPEAKER_03]: They were so cheap back then Wow, yeah, and then like fast forward to like 2026 like how are people able to buy one two three properties within one year?
• 39:49
  [SPEAKER_02]: So you buy muscle properties basically by using these asset-based lenders, as long as a deal makes sense.
• 39:55
  [SPEAKER_02]: And when you have your deal flow coming in, so depending on how you buy, I love to buy from auctions and wholesalers.
• 40:01
  [SPEAKER_02]: I don't call anybody, I don't have time for that, but there's a prop-sheem deal machine if you do want to contact the owners.
• 40:07
  [SPEAKER_02]: I talk to the people who contact the owners.
• 40:09
  [SPEAKER_02]: So because they know that I'm a closer, they know that I have easy money, they know I have credit cards, they know I know my criteria.
• 40:16
  [SPEAKER_02]: They know what I like and I close.
• 40:18
  [SPEAKER_02]: So they bring me deals all the time.
• 40:20
  [SPEAKER_02]: So I can find deals.
• 40:21
  [SPEAKER_02]: I got my money.
• 40:22
  [SPEAKER_02]: I got my contractors and we just we just be rolling Yeah, so just launch your happy and money together.
• 40:29
  [SPEAKER_02]: You got your whole sales who trust you and your hard money landed you trust you.
• 40:33
  [SPEAKER_02]: You're in good shape
• 40:35
  [SPEAKER_05]: Another thing I think we didn't cover was finding these properties and like where like how do you find these properties?
• 40:44
  [SPEAKER_05]: And you know like let's say like a ficeller he's whether they they might be struggling to maintain a property like how do you find
• 40:53
  [SPEAKER_05]: Yeah, sellers.
• 40:54
  [SPEAKER_02]: You can, you can see the evidence on outside of the house.
• 40:57
  [SPEAKER_02]: So if the mail is piling up, they're not taking care of their house, the windows look a mess, stuff is peeling.
• 41:03
  [SPEAKER_02]: I just had someone buy a house with much money for $40,000.
• 41:08
  [SPEAKER_02]: And that is worth maybe $250.
• 41:10
  [SPEAKER_02]: He's going to convert it to a duplex.
• 41:11
  [SPEAKER_02]: But yes, when you talk to the sellers when it looks disheveled, they're in distress.
• 41:16
  [SPEAKER_02]: She didn't want any money for it.
• 41:19
  [SPEAKER_02]: She just wanted to get rid of it.
• 41:20
  [SPEAKER_02]: It was owned by a few airs.
• 41:22
  [SPEAKER_02]: He went through the probate process, helped him through that.
• 41:25
  [SPEAKER_02]: And so we actually paid them 26,000, but with all the fees, the cost and 40 grand.
• 41:29
  [SPEAKER_02]: So when you go directly to the owners, who are in distress, that's how you get the cheapest ones.
• 41:34
  [SPEAKER_02]: But I don't want to be bothered with that.
• 41:36
  [SPEAKER_02]: So I just talk to the wholesalers who do that.
• 41:38
  [SPEAKER_05]: Yeah.
• 41:39
  [SPEAKER_05]: So you could kind of walk us to your math on like before you even commit to a property or even move on with closing and things like that.
• 41:49
  [SPEAKER_05]: What is something like, how do you calculate your cash flow?
• 41:51
  [SPEAKER_05]: How do you know the deal makes sense?
• 41:53
  [SPEAKER_05]: Well, how do you know when to walk away from the deal?
• 41:57
  [SPEAKER_02]: Um, so I look for certain cash flow numbers.
• 42:00
  [SPEAKER_02]: I'm a cash flow investor, so that has to make sense.
• 42:02
  [SPEAKER_02]: My multi-family is I don't need to make money on a cash out, but I has to cash all every month.
• 42:08
  [SPEAKER_02]: The number I look for is a DSCR 1.7.
• 42:11
  [SPEAKER_02]: So when you refinish your properties, you go to a DSCR lender, and they look for certain numbers in order to qualify you.
• 42:18
  [SPEAKER_02]: They're qualified numbers are more like 1.25.
• 42:21
  [SPEAKER_02]: But that's not enough cash flow for me.
• 42:23
  [SPEAKER_02]: I want 1.7.
• 42:23
  [SPEAKER_02]: So what that looks like is all the bills add up to $1,000.
• 42:29
  [SPEAKER_02]: The rents I'm getting is $1,700.
• 42:32
  [SPEAKER_02]: So that's the numbers I look for.
• 42:34
  [SPEAKER_02]: All in, I want to be for my multi families.
• 42:38
  [SPEAKER_02]: I want to be all in 80% loan value.
• 42:41
  [SPEAKER_02]: So the house is worth 100 grand.
• 42:43
  [SPEAKER_02]: I don't want to have more than 80,000 owed on it.
• 42:45
  [SPEAKER_02]: If it's a single family house, I like to cash out a lot of those, I don't need to cash flow on those.
• 42:51
  [SPEAKER_02]: So as long as I can get a lump sum of money like $40,000 from when I refinance, that's considered a good deal for me.
• 42:59
  [SPEAKER_02]: Even if only cash flows $1.25 or $1.3, I get my money upfront.
• 43:04
  [SPEAKER_05]: That makes a lot of sense.
• 43:06
  [SPEAKER_05]: And like today's market, what are some things that you see like the UC buy in opportunities in 2026?
• 43:10
  [SPEAKER_02]: This is a buyer's market.
• 43:12
  [SPEAKER_02]: I wish more people understood that they want to buy when it rates are high, things are crazy.
• 43:17
  [SPEAKER_02]: You can't get inspection.
• 43:17
  [SPEAKER_02]: You can't get any credits.
• 43:19
  [SPEAKER_02]: Right now, there's grants to buy properties.
• 43:22
  [SPEAKER_02]: I had this someone buy house where they got 20,000 grants.
• 43:25
  [SPEAKER_02]: And they asked me for a seller's credit.
• 43:27
  [SPEAKER_02]: They asked me for repairs on inspection for you.
• 43:29
  [SPEAKER_02]: Couldn't get that four years ago.
• 43:31
  [SPEAKER_02]: It is a buyer's market right now, and there's a lot of investors who are hurting.
• 43:34
  [SPEAKER_02]: So you take advantage, you offer less money.
• 43:37
  [SPEAKER_02]: Don't be afraid of lowball.
• 43:38
  [SPEAKER_02]: People afraid of lowball.
• 43:40
  [SPEAKER_02]: Add a student by a triplex of list of four to 50.
• 43:43
  [SPEAKER_02]: She got for $200,000.
• 43:46
  [SPEAKER_02]: First week, it went on the market.
• 43:47
  [SPEAKER_02]: They took such a huge hit.
• 43:48
  [SPEAKER_02]: So lowball,
• 43:51
  [SPEAKER_02]: As for seller's credits, as from 6% As an updated transfer taxes, As an remake repairs when inspection for comes back.
• 43:58
  [SPEAKER_02]: And you should get a good deal.
• 44:00
  [SPEAKER_02]: And whenever things become booming again, we're in a bull market, that price will shoot right back up to where it was if not higher.
• 44:06
  [SPEAKER_05]: Sorry to break this amazing episode.
• 44:08
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• 44:14
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• 44:18
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• 44:22
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• 44:30
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• 44:33
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• 44:41
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• 44:46
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• 44:51
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• 45:04
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• 45:10
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• 45:12
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• 45:16
  [SPEAKER_03]: How do you find these hard-many lenders?
• 45:19
  [SPEAKER_03]: Because a lot of times people were saying, hey, listen, you don't need any money to go ahead and get started in real estate.
• 45:25
  [SPEAKER_03]: All you have to do is just go out and start finding these hard-money lenders.
• 45:29
  [SPEAKER_03]: How are people able to go out there and find these hard-money lenders?
• 45:32
  [SPEAKER_02]: Listen, I'll give you three, I'll give you three hard my learners that I like.
• 45:35
  [SPEAKER_02]: So there's longhorn investments.
• 45:38
  [SPEAKER_02]: They actually pay 100% of the purchase and 100% of the financing.
• 45:42
  [SPEAKER_02]: They're only in a few states, they're in about 15 states, but I love them.
• 45:46
  [SPEAKER_02]: They love to sell, they love to blend on single-family houses, not town homes or twins.
• 45:53
  [SPEAKER_02]: But 100% of the purchase and renovation.
• 45:55
  [SPEAKER_02]: The nurse Kiavi, they have low loan amounts of $50,000, and when you refinance, they can be financed at 80% loan of value.
• 46:03
  [SPEAKER_02]: The one of my favorites is Burlones, Burr, BRRR.com, because they are also a direct lender, direct lenders, let you get away with the murder, after they trust you.
• 46:15
  [SPEAKER_02]: So once you do a few loans with them, if you need a deal where you want to borrow less money, you need
• 46:23
  [SPEAKER_02]: The reclenders are the ones you want to work with because it's their money in house.
• 46:28
  [SPEAKER_03]: So they're not like the the the formal typical bank.
• 46:32
  [SPEAKER_02]: No, so the hard-me-lenders are ready are different, but you're using like investor money and you have to sell those loans.
• 46:40
  [SPEAKER_02]: The reclenders is their money.
• 46:41
  [SPEAKER_02]: They make decisions in house.
• 46:43
  [SPEAKER_02]: Those are better.
• 46:44
  [SPEAKER_02]: They let you get away with murder sometimes.
• 46:45
  [SPEAKER_02]: I've gotten houses where
• 46:47
  [SPEAKER_02]: they didn't do it on site inspection and closing two days.
• 46:49
  [SPEAKER_02]: Because title was done.
• 46:51
  [SPEAKER_02]: The person called me an emergency and I say, hey, I got this 10 unit on buying.
• 46:55
  [SPEAKER_02]: I got it closing two days.
• 46:56
  [SPEAKER_02]: Can we make this happen?
• 46:57
  [SPEAKER_02]: Yes, because they trust me and owe me we get it done.
• 46:59
  [SPEAKER_02]: So once you get in good, you want to stick with the same blender because you start to earn that trust.
• 47:04
  [SPEAKER_02]: And it lets you do bigger and better deals.
• 47:06
  [SPEAKER_03]: And what did they typically looking for to be able to give you that money?
• 47:11
  [SPEAKER_02]: So when you're applying for these loans, the main thing you need to do is your scope of work has to be right.
• 47:16
  [SPEAKER_02]: You don't want to put anything scary, you don't put foundation issues, don't put in the mold, no specists, leave that out.
• 47:23
  [SPEAKER_02]: Pack that money into somewhere else.
• 47:24
  [SPEAKER_02]: Say you're doing that in demo or the roof or something.
• 47:27
  [SPEAKER_02]: But just make sure your scope of work is right, your numbers are right, your ARB is right, and you're organized.
• 47:32
  [SPEAKER_02]: What they look for is the deal to look good and your organization, that makes you look good.
• 47:37
  [SPEAKER_02]: Okay, come confident and you can get the deal done.
• 47:40
  [SPEAKER_03]: You also mentioned that you can go out there and start getting grants, especially the fact they were in a buyer's market to buy properties.
• 47:48
  [SPEAKER_03]: What are those grants that people can apply for and where can they find those?
• 47:52
  [SPEAKER_02]: So you can go on right on chat to be tea.
• 47:54
  [SPEAKER_02]: It pulls it up easily.
• 47:55
  [SPEAKER_02]: You could see if your city is giving out grants.
• 47:58
  [SPEAKER_02]: I looked it up recently.
• 47:59
  [SPEAKER_02]: There's the Rochester, New York, that's giving out grants.
• 48:01
  [SPEAKER_02]: Philly's giving out $10,000 grants.
• 48:05
  [SPEAKER_02]: Baltimore gives out grants to Troy.
• 48:07
  [SPEAKER_02]: A lot of places are giving out grants.
• 48:09
  [SPEAKER_02]: And then some banks are giving out grants.
• 48:10
  [SPEAKER_02]: So one of my buyer bought from was Citadel Credit Union.
• 48:15
  [SPEAKER_02]: They gave her $18,000.
• 48:18
  [SPEAKER_03]: So she doesn't have to pay back free and clear.
• 48:21
  [SPEAKER_02]: The grants are free and clear.
• 48:22
  [SPEAKER_02]: You know, 28,000 she got 28.
• 48:24
  [SPEAKER_02]: Yeah, it's free and clear.
• 48:26
  [SPEAKER_02]: Yep.
• 48:26
  [SPEAKER_02]: Wow.
• 48:27
  [SPEAKER_02]: And so she actually made money at the table.
• 48:29
  [SPEAKER_03]: Yeah.
• 48:30
  [SPEAKER_02]: Mm-hmm.
• 48:30
  [SPEAKER_03]: And then how much is she able to cash flow every month now?
• 48:34
  [SPEAKER_02]: Well, that's actually how that she bought to live in.
• 48:37
  [SPEAKER_03]: But, um, is this enough for your personal house, too?
• 48:40
  [SPEAKER_02]: Yes.
• 48:41
  [SPEAKER_02]: Yes.
• 48:42
  [SPEAKER_03]: I didn't think that was a thing.
• 48:44
  [SPEAKER_03]: Wait, hold on.
• 48:46
  [SPEAKER_02]: The grants are typically for your personal house, but some people they get there may not like the neighborhood may have been a shooting down the block and decide that you're not going to move in and go there somewhere else.
• 48:58
  [SPEAKER_02]: Sometimes it happens, so you can change your mind.
• 49:00
  [SPEAKER_03]: Not bad, not bad.
• 49:02
  [SPEAKER_03]: Not bad, but Grant's is definitely a great thing because now a lot of people they may not have the money, they may not know where they can go borrow money, but now if they get a grant they can use that and you know pretty much start investing.
• 49:17
  [SPEAKER_02]: Yep, that's free money right now.
• 49:19
  [SPEAKER_03]: Now's a great time to buy.
• 49:21
  [SPEAKER_03]: And then, like, as far as like the great money, like, is there, like, certain qualifications when it comes to these grants, usually?
• 49:29
  [SPEAKER_02]: They usually just want you to take, like, a class or something.
• 49:32
  [SPEAKER_02]: The worst part is the time it takes.
• 49:35
  [SPEAKER_02]: So, make sure you do whatever they require before you put an offer.
• 49:38
  [SPEAKER_02]: So, some of these grants take eight weeks to come through.
• 49:41
  [SPEAKER_03]: Do you have to be a first-time homebuyer to get it?
• 49:43
  [SPEAKER_02]: Typically, not your first time, but it just has to be a house that you're moving into.
• 49:48
  [SPEAKER_03]: Makes sense.
• 49:49
  [SPEAKER_05]: Got it, got it.
• 49:50
  [SPEAKER_05]: And in terms of, like, especially building out a portfolio, you know, you never know, like, the world is just unpredictable, COVID, like pandemic.
• 50:00
  [SPEAKER_05]: What are some ways that you protect yourself from being one of those people that's forced to sell properties?
• 50:07
  [SPEAKER_05]: Got to liquidate assets, anything like, how do you prevent yourself from going through that?
• 50:13
  [SPEAKER_02]: So the multifamies are great for that because once I move out, you're still getting a lot of money.
• 50:19
  [SPEAKER_02]: I buy houses for less than what they're worth.
• 50:21
  [SPEAKER_02]: So, and I save money on the renovation by managing them myself.
• 50:24
  [SPEAKER_02]: I don't hire a general contractor.
• 50:26
  [SPEAKER_02]: They add a lot of overhead that I save.
• 50:29
  [SPEAKER_02]: So I manage on myself.
• 50:30
  [SPEAKER_02]: So all in, already, I'm saving money on buying the house.
• 50:34
  [SPEAKER_02]: And because I spend so cheap and buying the house, I can rent the section eight, get multiple streams of income from that one property, and rent into section eight with that guaranteed income
• 50:43
  [SPEAKER_02]: I didn't sweat at all when COVID came and it was telling people stop paying your rent.
• 50:47
  [SPEAKER_02]: Money came in on the first no problem.
• 50:49
  [SPEAKER_02]: So the protection is not paying a lot for your property, not overspending on rehab, which a lot of new investors do, and then run to the section eight for the guaranteed money.
• 51:00
  [SPEAKER_05]: And what about, like, repairs, like, you know, sometimes things might break when house might be costing you more than expected due to, like, you know, repairs.
• 51:10
  [SPEAKER_05]: How do you kind of, like, avoid that?
• 51:14
  [SPEAKER_02]: Well, when you do the burst strategy, you do a renovation, so you should really have that many repairs.
• 51:22
  [SPEAKER_02]: You might have some wear and tear, toilet might start running, which I hate those, but you shouldn't have that many repairs your first true years.
• 51:29
  [SPEAKER_02]: And when you have them, you just use either your refinance money that you just cashed out, or you use the rents for everything.
• 51:35
  [SPEAKER_02]: You should be cashed with a lot of money in order to pay for that.
• 51:38
  [SPEAKER_02]: And you should work that into your analysis too.
• 51:41
  [SPEAKER_02]: You should plan for 10% of your rent income to go towards repairs and maintenance.
• 51:47
  [SPEAKER_05]: As far as like being from an investor's perspective, do you believe owning a home is a good idea for do you think renting is what makes more sense?
• 52:00
  [SPEAKER_02]: Now, so renting is a luxury.
• 52:02
  [SPEAKER_02]: You know, being able to call someone to come fix everything for free, that's a luxury.
• 52:06
  [SPEAKER_02]: Owning your home is what you do if you wanna make money.
• 52:09
  [SPEAKER_02]: You know, a lot of us real estate investors that I know guys started because our grandmother's bought houses.
• 52:14
  [SPEAKER_02]: They left them to us.
• 52:15
  [SPEAKER_02]: They have their paid off.
• 52:17
  [SPEAKER_02]: They have all this equity in them.
• 52:19
  [SPEAKER_02]: That is how we got started.
• 52:20
  [SPEAKER_02]: That's how my dad got started.
• 52:22
  [SPEAKER_02]: So when you're renting, you're not leaving anything to anybody.
• 52:25
  [SPEAKER_02]: Your rents are going up every year.
• 52:27
  [SPEAKER_02]: You can't even control that.
• 52:29
  [SPEAKER_02]: You're mortgage.
• 52:30
  [SPEAKER_02]: Sometimes it goes up from the text is going up, but it's going to be less, but it's still growing in value.
• 52:35
  [SPEAKER_02]: Stocks and real estate are meant to go up.
• 52:38
  [SPEAKER_02]: The government's going to make sure that because they're making money from it.
• 52:41
  [SPEAKER_02]: Other rich people making money for it.
• 52:43
  [SPEAKER_02]: So if you're going to do, if you want to be rich, you're going to do what other rich people do, and they're investing in real estate.
• 52:48
  [SPEAKER_02]: So big picture wise, they're making money.
• 52:51
  [SPEAKER_02]: Sometimes you might think, oh, I got to fix this roof.
• 52:54
  [SPEAKER_02]: I got to fix this hot water tank.
• 52:56
  [SPEAKER_02]: When you get to the point where Rachel Loanier refinancing or you're selling, you almost don't realize how much money your house is worth, how much is going up and value, and you don't realize until you get that checking, you're like, oh, okay, real estate is that thing.
• 53:09
  [SPEAKER_02]: I should have shut my mouth saying real estate was too expensive, so no, you don't realize until later, but your money is quietly growing in the background.
• 53:16
  [SPEAKER_03]: And you know, the crazy thing about it that I realized is that some people may be living in a house for 10, 15, 20 plus years, and now they get to a stage with the retiring, so now they can do the overtime, right?
• 53:30
  [SPEAKER_03]: They can do the extra shifts.
• 53:31
  [SPEAKER_03]: They can't pick up and get a second job because you're much older.
• 53:44
  [SPEAKER_03]: the rencer increasing around the neighborhood.
• 53:47
  [SPEAKER_03]: So that $1,000 a month.
• 53:49
  [SPEAKER_03]: You used to pay a star and I go up 1115 every year and then they're like, their income is not able to help.
• 53:58
  [SPEAKER_02]: They can't keep up.
• 53:59
  [SPEAKER_03]: You can't keep up.
• 54:00
  [SPEAKER_03]: And now they're almost forced to go homeless or live out of family.
• 54:04
  [SPEAKER_02]: Yep, that forced to move in because when you do retire, you're making less money.
• 54:08
  [SPEAKER_03]: Yeah.
• 54:09
  [SPEAKER_02]: Yeah.
• 54:09
  [SPEAKER_02]: So, and I have to mention the tax benefits when you're owning homes.
• 54:13
  [SPEAKER_02]: This just makes more sense to owner house.
• 54:15
  [SPEAKER_02]: People who are spread in this propaganda that owning a house is liability.
• 54:19
  [SPEAKER_02]: That came from Robert Kiyosaki.
• 54:21
  [SPEAKER_02]: He was taught his dad was taught by his CPA to keep buying houses and save them taxes.
• 54:26
  [SPEAKER_02]: So that's where that came from.
• 54:27
  [SPEAKER_02]: And that is our own house.
• 54:29
  [SPEAKER_02]: Don't keep buying houses just because you're making money.
• 54:31
  [SPEAKER_02]: Stay in that same house that you can afford.
• 54:33
  [SPEAKER_02]: And then when you're ready to buy your next one, either cash out that one.
• 54:37
  [SPEAKER_02]: the paper next one or sell it and pay for the next one.
• 54:40
  [SPEAKER_02]: So it is not liability, it's definitely an asset.
• 54:44
  [SPEAKER_05]: As a investor, like, when you hear somebody bragging about how many doors they have, like, what are some things that you know, like, that, like, what are some numbers that really matters to you?
• 54:55
  [SPEAKER_05]: Like, you like, have hundred doors to one of doors.
• 54:57
  [SPEAKER_02]: I mean, we always asked what the cash flow was like, when I went to my first seminar in 2009, because I couldn't refinance my house.
• 55:04
  [SPEAKER_02]: His guy's name was Jim Canal, he had 45 doors, but he was only cash for $200 a door, I said, well, that's crazy.
• 55:11
  [SPEAKER_02]: I'm cash for $917, but he was doing better in this guy, but he was doing better in me because he wasn't working, he had their freedom.
• 55:16
  [SPEAKER_02]: But yeah, a lot of people, they only aim for low cash flow numbers, but that's typically if they're making more money somewhere else.
• 55:23
  [SPEAKER_02]: But I'm a casual investor.
• 55:24
  [SPEAKER_02]: I live off my casual.
• 55:25
  [SPEAKER_02]: I've been living off my casual since 2012, so I need a certain number.
• 55:29
  [SPEAKER_02]: So it all depends on what someone's goal is if they're investing, is their goal just stay on tax benefits, is their goal appreciation or their goal is cash flow.
• 55:36
  [SPEAKER_02]: So yeah, I wonder what their goal is and how much you're making when they have all these doors.
• 55:42
  [SPEAKER_05]: that makes a lot of sense and definitely does.
• 55:45
  [SPEAKER_05]: And like as far as like you know career-wise and things like that, do you ever miss being in the career?
• 55:52
  [SPEAKER_05]: Because I mean, I'm not gonna lie like even when I heard that she was a chemical engineer, I'm like damn, like that's not a, you know, it's not easy schooling.
• 56:00
  [SPEAKER_02]: You know, schooling definitely was not easy.
• 56:02
  [SPEAKER_02]: I think graduate from honors though, so I put it in that time.
• 56:05
  [SPEAKER_02]: But no, definitely don't miss it.
• 56:07
  [SPEAKER_02]: Once or I do have a nightmare,
• 56:09
  [SPEAKER_02]: It's crazy.
• 56:11
  [SPEAKER_04]: Yeah, I don't know.
• 56:15
  [SPEAKER_02]: I definitely don't miss it.
• 56:16
  [SPEAKER_02]: I don't think I'm employable either I can't get up in the morning.
• 56:20
  [SPEAKER_02]: I really want to get up and take my kid to school in the morning But yeah, I sleep late.
• 56:24
  [SPEAKER_02]: I have so much freedom.
• 56:26
  [SPEAKER_05]: I can never go back to a job As like a parent like how do you view education and things now that
• 56:35
  [SPEAKER_05]: You know, you did the schooling and now you kind of got your freedom to sign most.
• 56:40
  [SPEAKER_05]: How did you get it?
• 56:42
  [SPEAKER_02]: I'm on the fence.
• 56:43
  [SPEAKER_02]: I definitely want them to be entrepreneurs.
• 56:46
  [SPEAKER_02]: But for some reason, people still look at a degree as like a status thing.
• 56:51
  [SPEAKER_02]: I tell them I'm a real estate investor.
• 56:53
  [SPEAKER_02]: I've been investing for all these years.
• 56:55
  [SPEAKER_02]: I've all these doors.
• 56:55
  [SPEAKER_02]: But yeah, when I mentioned that I'm an engineer like, wow.
• 56:58
  [SPEAKER_02]: Oh my god.
• 57:02
  [SPEAKER_02]: So I think I'll have them go just because to fit in with this world, but I'm going to teach them how to be entrepreneurs, how to make mindy real estate or how to pursue their dreams, and monetize their dreams.
• 57:11
  [SPEAKER_02]: Yeah.
• 57:12
  [SPEAKER_03]: Mm-hmm.
• 57:13
  [SPEAKER_05]: Oh, no, I'm easy.
• 57:14
  [SPEAKER_05]: Yeah, that's good.
• 57:16
  [SPEAKER_05]: That's good.
• 57:16
  [SPEAKER_05]: I had to actually do it because it's like so much things is change right now.
• 57:20
  [SPEAKER_05]: You got AI, the schools can't even keep up any more way.
• 57:23
  [SPEAKER_05]: Yeah.
• 57:23
  [SPEAKER_05]: They don't know what to do with it.
• 57:25
  [SPEAKER_05]: And then you have other people just they're finding different avenues on,
• 57:31
  [SPEAKER_05]: outside of getting a nine to five jobs.
• 57:34
  [SPEAKER_05]: Yeah, it's tough.
• 57:34
  [SPEAKER_05]: It's hard to handle.
• 57:35
  [SPEAKER_05]: It's hard to handle.
• 57:36
  [SPEAKER_02]: Brandeals, yeah.
• 57:37
  [SPEAKER_02]: There's so many ways to make money outside of a job, which has always been that way, but we were raised in a school system to get jobs.
• 57:44
  [SPEAKER_03]: Yeah.
• 57:44
  [SPEAKER_03]: Yeah.
• 57:44
  [SPEAKER_03]: And then also now, you came up in an era where AI wasn't a thing.
• 57:49
  [SPEAKER_03]: Right, but now you can't scroll in your timeline without hearing the eye or using the eye and say, hey, listen, this is Go ahead and answer this question for me.
• 58:00
  [SPEAKER_03]: How is AI helping you in your business recently?
• 58:04
  [SPEAKER_02]: I don't really use it for real estate investing.
• 58:07
  [SPEAKER_02]: I use it the right letters on a main degree and it helps me tone it down.
• 58:12
  [SPEAKER_02]: It makes pretty reports too, but as far as analyzing deals or anything like that, I don't use it for that.
• 58:16
  [SPEAKER_02]: Some people do, but you're much better.
• 58:19
  [SPEAKER_02]: Once you learn how to analyze your market, you're much better at it than AI.
• 58:23
  [SPEAKER_02]: Because AI, there's no block by blocks.
• 58:25
  [SPEAKER_02]: Some areas of block by block.
• 58:27
  [SPEAKER_02]: A house can be worth 400,000 here and 200,000 one street away.
• 58:31
  [SPEAKER_02]: It's AI gonna know that, I don't know, I'm not taking those chances with that.
• 58:35
  [SPEAKER_03]: Right, do you think you ever take chances with AI?
• 58:38
  [SPEAKER_03]: I mean, at some point.
• 58:40
  [SPEAKER_02]: Yes, but not with analyzing deals never.
• 58:42
  [SPEAKER_03]: Never.
• 58:42
  [SPEAKER_02]: Never.
• 58:43
  [SPEAKER_02]: No.
• 58:44
  [SPEAKER_02]: No.
• 58:44
  [SPEAKER_02]: I know zip code and how much things go just because I know the market.
• 58:49
  [SPEAKER_03]: Okay.
• 58:49
  [SPEAKER_05]: Interesting.
• 58:50
  [SPEAKER_05]: And I wanted to ask you to as far as like because you did say that you was selling some things.
• 58:57
  [SPEAKER_05]: What is your goal with with that intention and selling things like are you going and the way are you like time in the market waiting for something else to like another opportunity to come where you just want to
• 59:06
  [SPEAKER_02]: Well, I'm dropping down to about 50 doors.
• 59:09
  [SPEAKER_02]: I think this, I have a virtual assistant who works with me and I have someone else who makes my calls and my tenants are late.
• 59:15
  [SPEAKER_02]: But yeah, I want to get into the fashion line.
• 59:17
  [SPEAKER_02]: And like I said, it's slowing me down.
• 59:18
  [SPEAKER_02]: Property manager is terrible.
• 59:20
  [SPEAKER_02]: They can never do a job as good as me and so I don't want to go that route.
• 59:25
  [SPEAKER_02]: They have I've had such a bad experience I've used a total of five before.
• 59:29
  [SPEAKER_02]: They've done things like pay a water bill $2,000 a water bill that I've tenant supposed to pay just because I don't know what their procedure is, but yeah They would pay a bill and I supposed to pay they've called me when someone else's property has a problem like this to take my property
• 59:45
  [SPEAKER_02]: they take forever to fill my vacancy so I do a better job than them so with my VA and my other person we're way better than a property manager company.
• 59:53
  [SPEAKER_03]: Who's usually in your team outside of like your VA?
• 59:57
  [SPEAKER_02]: Um and then my maintenance guys they pretty much work for me full time.
• 1:00:00
  [SPEAKER_02]: I have sectionity inspections, we do turnovers and their prep in houses for sale now but yeah so it's my maintenance guys and then my two other office people.
• 1:00:09
  [SPEAKER_03]: And what does your VA do typically like day-to-day?
• 1:00:12
  [SPEAKER_02]: So she handles all the calls.
• 1:00:14
  [SPEAKER_02]: They have 10, 10's haven't spoken to me in years.
• 1:00:15
  [SPEAKER_02]: They missed me too.
• 1:00:16
  [SPEAKER_02]: When I arrived pop up, they say, oh, she's now in this room.
• 1:00:19
  [SPEAKER_02]: You're big, you don't love this anymore.
• 1:00:20
  [SPEAKER_02]: But yeah, she handles all the calls.
• 1:00:22
  [SPEAKER_02]: She handles, she checks all the utility bills.
• 1:00:25
  [SPEAKER_02]: She checks, she calls the gas companies.
• 1:00:28
  [SPEAKER_02]: Turns off service, turns it off.
• 1:00:30
  [SPEAKER_02]: Oner off.
• 1:00:32
  [SPEAKER_02]: Just all the...
• 1:00:33
  [SPEAKER_02]: Monday and things I don't want to do.
• 1:00:35
  [SPEAKER_02]: She applies for grants.
• 1:00:35
  [SPEAKER_02]: She applies for rental assistance.
• 1:00:37
  [SPEAKER_02]: She gets my paperwork together for evictions.
• 1:00:40
  [SPEAKER_02]: All that type of stuff.
• 1:00:41
  [SPEAKER_03]: Wow.
• 1:00:42
  [SPEAKER_03]: Wow.
• 1:00:42
  [SPEAKER_03]: I want to.
• 1:00:44
  [SPEAKER_03]: Like, wow.
• 1:00:45
  [SPEAKER_03]: I mean, you know, getting the grants, everything.
• 1:00:49
  [SPEAKER_05]: Yeah.
• 1:00:50
  [SPEAKER_05]: Wow.
• 1:00:51
  [SPEAKER_05]: How do you because we're in New York right now?
• 1:00:53
  [SPEAKER_05]: And New York, we recently got a mayor who's elected Mayor Mondani.
• 1:01:01
  [SPEAKER_03]: Yeah.
• 1:01:02
  [SPEAKER_05]: He has a lot of strong views.
• 1:01:03
  [SPEAKER_05]: He's been going viral lately, because his views on real estate, landlord's, slum lords.
• 1:01:08
  [SPEAKER_05]: Yeah.
• 1:01:08
  [SPEAKER_05]: There's some lords for sure.
• 1:01:11
  [SPEAKER_05]: So his view is, he said that landlord who, I think that they don't, they don't take care of maintenance and things like that, upkeep the property and they're getting paid rent.
• 1:01:26
  [SPEAKER_05]: That the tenants could hold rent or the city's gonna take the property from them.
• 1:01:31
  [SPEAKER_05]: So it was like mixed reactions to that because a lot of people was like, you know, from a landlord perspective, New York has already landlord friendly.
• 1:01:38
  [SPEAKER_05]: Now it's even being more friendly here where the city can now take back the property.
• 1:01:44
  [SPEAKER_05]: So how do you view that side?
• 1:01:46
  [SPEAKER_05]: Do you think like landlords who aren't upkeep in their properties?
• 1:01:52
  [SPEAKER_05]: Like you think it's right for the city to take it back?
• 1:01:55
  [SPEAKER_02]: Of course not, I mean it could be soul, but I guess I want to figure out why they're not taking care of is it because of rents low and they don't want to tend to be there anyway, because I think that's the only time I might be a bad landlord if I don't like the tenant I want to leave.
• 1:02:13
  [SPEAKER_02]: It's good if they should go.
• 1:02:14
  [SPEAKER_02]: If the lamb was not taken care of the house, they should just leave.
• 1:02:17
  [SPEAKER_02]: But typically, if I was a tenant, I would get the repair fixed myself and just let them know it's in sound of receipt.
• 1:02:23
  [SPEAKER_02]: So I paid for it.
• 1:02:24
  [SPEAKER_02]: I took it out of the rent.
• 1:02:25
  [SPEAKER_02]: Yes, I'll just take care of repairs myself.
• 1:02:29
  [SPEAKER_03]: And what's the big venture that you're about to start working on?
• 1:02:32
  [SPEAKER_03]: Because you see about to get into the fashion industry?
• 1:02:35
  [SPEAKER_02]: Yeah, so when like a long time dream, no, it came out randomly, so when I started when I got on Instagram and people started asking me to speak, there were nothing in the stores to wear, nothing to wear.
• 1:02:48
  [SPEAKER_02]: And so I started, I got some of my old dresses and I took them to a dressmaker and I was like,
• 1:02:53
  [SPEAKER_02]: can you take this fabric and make it just like this dress?
• 1:02:56
  [SPEAKER_02]: And I started getting ton of compliments all the time and I see you know what?
• 1:03:00
  [SPEAKER_02]: And maybe this is a new business, so I make my designs with AI, I have a graphic designer.
• 1:03:05
  [SPEAKER_02]: I do use it, I do use it, yes, I do use it with my fashion life business and I think that's gonna make me rich.
• 1:03:12
  [SPEAKER_02]: But this AI and fashion business, I have my graphic designer fixed things that it gets wrong or that I didn't like.
• 1:03:18
  [SPEAKER_02]: And yeah, I'm looking for manufacturers now, but this is actually one of the dresses that I had made a few years ago.
• 1:03:24
  [SPEAKER_02]: Nice.
• 1:03:24
  [SPEAKER_02]: Yes.
• 1:03:25
  [SPEAKER_02]: Thank you.
• 1:03:26
  [SPEAKER_02]: Yes.
• 1:03:26
  [SPEAKER_02]: This is the base and dress.
• 1:03:27
  [SPEAKER_02]: I couldn't find anything like it in a store that they were.
• 1:03:29
  [SPEAKER_02]: It was overpriced.
• 1:03:30
  [SPEAKER_02]: Probably Esther.
• 1:03:32
  [SPEAKER_02]: So yeah.
• 1:03:32
  [SPEAKER_02]: That right did.
• 1:03:33
  [SPEAKER_05]: That right did shows like, hey, this night.
• 1:03:37
  [SPEAKER_05]: If you can involve yourself in real estate, you know, you create opportunities to just have freedom that, you know, do what you want to do.
• 1:03:44
  [SPEAKER_02]: Exactly.
• 1:03:45
  [SPEAKER_02]: I have so much freedom.
• 1:03:46
  [SPEAKER_02]: My day comprises of me, taking my kids in school, going to the gym, looking at my phone, seeing what my VA wants, if she needs to need to do anything.
• 1:03:54
  [SPEAKER_02]: And then I should be making content.
• 1:03:57
  [SPEAKER_02]: But my day is pretty free.
• 1:03:59
  [SPEAKER_02]: I might take a day where I'm under bunch of errands and check out properties if I'm needed.
• 1:04:03
  [SPEAKER_02]: But,
• 1:04:04
  [SPEAKER_02]: This is a passive business.
• 1:04:05
  [SPEAKER_02]: It's not exactly a passive class, still have the handle stuff.
• 1:04:08
  [SPEAKER_02]: I don't need someone working every day at a store.
• 1:04:11
  [SPEAKER_02]: It's very passive.
• 1:04:12
  [SPEAKER_02]: So I don't want to do that much as long as my VA is there.
• 1:04:15
  [SPEAKER_02]: And my maintenance guys are working on my life is pretty simple.
• 1:04:19
  [SPEAKER_03]: That's because here I mean, and now pretty much, you know, after so many years and so many different experiences, your teaching is getting your teaching and information.
• 1:04:28
  [SPEAKER_03]: Tell people a little bit more about that.
• 1:04:32
  [SPEAKER_02]: Yes, so I teach women and anyone who wants to know how to invest in real estate with the Burst strategy, I teach you financing, I teach you how to get these credit cards with high limits, I teach you about hard money loans, how to get money from them, how to present yourself to get the most money, I teach how to source your deals through auctions and wholesalers, props human deal machine, if you want to go that route, how to find and vet your contractors and most importantly, how to fire them.
• 1:04:59
  [SPEAKER_02]: than how to find your tenants, screen them, or to section eight, we find ants and do all over again.
• 1:05:04
  [SPEAKER_03]: That's good.
• 1:05:05
  [SPEAKER_03]: Pretty much the step from eight all the way to Z, so that way people can start making money.
• 1:05:10
  [SPEAKER_03]: Yeah.
• 1:05:11
  [SPEAKER_05]: Yeah.
• 1:05:11
  [SPEAKER_05]: Tell us about some winds that some of your mentees had, you know.
• 1:05:18
  [SPEAKER_05]: Pretty sure it's a lot.
• 1:05:19
  [SPEAKER_02]: Yeah, big winds too.
• 1:05:20
  [SPEAKER_02]: So because I invest mostly in multi-family, those make the most money.
• 1:05:25
  [SPEAKER_02]: Biggest wind problem was one who made $200,000 on a cash out and she makes $6,000 a month in rents after expenses $25,000 a month.
• 1:05:36
  [SPEAKER_02]: Those were her first two properties.
• 1:05:38
  [SPEAKER_02]: Yes, yeah.
• 1:05:39
  [SPEAKER_03]: What was her career like, what was her background?
• 1:05:41
  [SPEAKER_02]: She is a vice principal at a private school in New York.
• 1:05:44
  [SPEAKER_02]: So she makes good money.
• 1:05:46
  [SPEAKER_04]: Yeah.
• 1:05:46
  [SPEAKER_02]: Yeah.
• 1:05:47
  [SPEAKER_02]: And then I had another one.
• 1:05:48
  [SPEAKER_02]: She does ADU conversions.
• 1:05:50
  [SPEAKER_02]: ADU's are almost just like multi families, but less rules when it comes to the construction.
• 1:05:55
  [SPEAKER_02]: So she had bought a property for 300 and something, spent maybe 40,000 on a renovation.
• 1:06:00
  [SPEAKER_02]: It's worth 500,000.
• 1:06:02
  [SPEAKER_02]: And because of this extra unit,
• 1:06:05
  [SPEAKER_02]: She cashed over $1700 a month, and that's in Florida.
• 1:06:09
  [SPEAKER_02]: So, they're cashed long and ton of money, they're adding units, that's my strategy, adding units, doing renovations, and that one who's making a $1700, she actually lost her job recently, she's so thankful that she has these properties.
• 1:06:21
  [SPEAKER_02]: She's still looking for another job, but she's thankful that she has these properties to pay her bills in a meantime.
• 1:06:25
  [SPEAKER_03]: Wow.
• 1:06:26
  [SPEAKER_03]: Wow.
• 1:06:27
  [SPEAKER_03]: Wow.
• 1:06:27
  [SPEAKER_03]: And then the thing about it too, like, are you teaching them how to go out there and buy these properties
• 1:06:35
  [SPEAKER_02]: Absolutely.
• 1:06:35
  [SPEAKER_02]: My strategy is actually a no money strategy.
• 1:06:38
  [SPEAKER_02]: You know, I have started when I was making $38,000 a year.
• 1:06:42
  [SPEAKER_02]: So I didn't have money when I got started.
• 1:06:44
  [SPEAKER_02]: But once you start getting that lump sum from your first couple of properties, now you have money.
• 1:06:50
  [SPEAKER_02]: But yeah, so we use credit cards for, you know, down payments for paying your contractor for buying supplies.
• 1:06:56
  [SPEAKER_02]: But yeah, we use credit
• 1:07:00
  [SPEAKER_02]: Get them off market through auctions and wholesalers or go in directly to the owner so that you have to buy house for cheap.
• 1:07:05
  [SPEAKER_03]: That's the key God, I got it.
• 1:07:08
  [SPEAKER_05]: Anything you want sure to not it says this is this is a really good one.
• 1:07:11
  [SPEAKER_03]: It's like a whole bunch of game in this one Definitely was and how can the people learn from you as well?
• 1:07:16
  [SPEAKER_03]: How can they find you how can they learn from you as well?
• 1:07:19
  [SPEAKER_02]: So they can find me on Instagram My name Janelle Wilson that you can also sign up for my free class.
• 1:07:25
  [SPEAKER_02]: I have every Sunday and I'm having a five day class
• 1:07:28
  [SPEAKER_02]: June 20, second through to 26, where I'm teaching you all those steps and teaching you hard money liners, business credit, contractor, section eight, and we have a special class, a special guest teaching real estate in AI.
• 1:07:40
  [SPEAKER_02]: So I'm going to learn something to that day.
• 1:07:41
  [SPEAKER_03]: That's good.
• 1:07:43
  [SPEAKER_03]: What's the website?
• 1:07:43
  [SPEAKER_03]: Do you have a website or
• 1:07:45
  [SPEAKER_02]: I think as she builds, she profits.com, she builds, she profits.com.
• 1:07:49
  [SPEAKER_02]: Okay, okay.
• 1:07:50
  [SPEAKER_03]: So I still don't want to screen it for them.
• 1:07:51
  [SPEAKER_05]: Yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah, yeah,
• 1:08:07
  [SPEAKER_05]: Somebody gave me this one.
• 1:08:08
  [SPEAKER_03]: I agree.
• 1:08:09
  [SPEAKER_03]: I agree.
• 1:08:09
  [SPEAKER_03]: I definitely got to find me some goings too.
• 1:08:11
  [SPEAKER_02]: Yeah, yes, you've got to have it on the team.
• 1:08:14
  [SPEAKER_02]: You've got to have your real third, you've got to have a company in your room.
• 1:08:18
  [SPEAKER_03]: I love that.
• 1:08:18
  [SPEAKER_03]: I love this.
• 1:08:19
  [SPEAKER_03]: So listen guys, this is another episode of Emotion in Success.
• 1:08:22
  [SPEAKER_03]: Go ahead and like, comment, share and subscribe and check us out on the next podcast.
• 1:08:28
  [SPEAKER_03]: Now see you guys on the next one.
• 1:08:29
  [SPEAKER_03]: Peace.