Latest / Earn Your Leisure / Cliff Notes: House Hacking & Credit Hacks with Angela Yee

Transcript

Cliff Notes: House Hacking & Credit Hacks with Angela Yee · Earn Your Leisure

• 0:00
  Speaker 1: You just realized your business needed to hire someone yesterday.
• 0:04
  Speaker 1: How can you find amazing candidates fast easy? Just use Indeed.
• 0:09
  Speaker 1: Stop struggling to get your job posts seen on other
• 0:12
  Speaker 1: job sites. With Indeed sponsored jobs, your post jumps to
• 0:16
  Speaker 1: the top of the page for your relevant candidates, so
• 0:19
  Speaker 1: you can reach the people you want faster. According to
• 0:22
  Speaker 1: Indeed data, sponsored jobs posted directly on Indeed have forty
• 0:26
  Speaker 1: five percent more applications than non sponsored jobs. Don't wait
• 0:30
  Speaker 1: any longer. Speed up your hiring right now with Indeed,
• 0:33
  Speaker 1: and listeners of this show will get a seventy five
• 0:36
  Speaker 1: dollars sponsored job credit to get your jobs more visibility
• 0:39
  Speaker 1: at indeed dot com slash pod Katz thirteen. Just go
• 0:45
  Speaker 1: to Indeed dot com slash pod katz thirteen right now
• 0:50
  Speaker 1: and support our show by saying you heard about Indeed
• 0:53
  Speaker 1: on this podcast. Terms and conditions apply. Hiring Indeed is
• 0:57
  Speaker 1: all you need.
• 0:58
  Speaker 2: What's going on earn is welcome the EYL University, the
• 1:01
  Speaker 2: number one place for business education.
• 1:03
  Speaker 3: Shaddy Tale will be bringing Yes.
• 1:05
  Speaker 4: EYL University already has over one hundred past webinars from
• 1:08
  Speaker 4: all areas of business. It includes weekly webinars from industry
• 1:13
  Speaker 4: leaders It includes access to our investment Facebook group.
• 1:16
  Speaker 5: Movie club, our book club.
• 1:18
  Speaker 4: It also includes access to monthly financial planning calls with
• 1:21
  Speaker 4: yours truly. But what has been added has access to
• 1:25
  Speaker 4: MG the Mortgage Guys home Buyers Blueprint over fourteen hours
• 1:28
  Speaker 4: everything you need to know as far as the home
• 1:30
  Speaker 4: buying process is concerned. And also what has been added
• 1:34
  Speaker 4: is access to our monthly group chat call. So once
• 1:37
  Speaker 4: a month, Me, Troy and the whole team is going
• 1:40
  Speaker 4: to let you in on our personal plays, our portfolio,
• 1:42
  Speaker 4: what we're doing, and more so all of that. We
• 1:46
  Speaker 4: are running for a special promo code of seventy percent
• 1:50
  Speaker 4: off for a limited time only. So at the Eyluniversity
• 1:53
  Speaker 4: dot com right now and take advantage.
• 1:55
  Speaker 5: You know it's works.
• 1:56
  Speaker 3: Don't wait, don't hesitate it. We'll see you on the
• 1:57
  Speaker 3: other side. Earners, what's going on? You are now?
• 2:00
  Speaker 2: The cliff Notes the number one place for investment strategies,
• 2:02
  Speaker 2: tips and advice. Make sure you have your note pads ready,
• 2:05
  Speaker 2: but more importantly, make sure you're ready to execute on
• 2:07
  Speaker 2: the information.
• 2:08
  Speaker 6: I think the best thing to do is to have
• 2:11
  Speaker 6: a goal, right, like buying a house. To me, I'm
• 2:14
  Speaker 6: living in this house and it's a two family house,
• 2:16
  Speaker 6: so that pays half my mortgage, you know, and my
• 2:19
  Speaker 6: mortgage is less than what my rent would be for
• 2:21
  Speaker 6: something this side. Three bedrooms, you know, two and a
• 2:24
  Speaker 6: half bathrooms, a full backyard brownstone. And so I think
• 2:29
  Speaker 6: what you have to do is think of what a
• 2:30
  Speaker 6: smart investment is to you. And if you're living here,
• 2:35
  Speaker 6: you would have been paying rent somewhere else, and so
• 2:37
  Speaker 6: to me, that's money you would have been spending anyway.
• 2:40
  Speaker 6: And so the two family house or a three family house,
• 2:42
  Speaker 6: if I would have had a three family house, it
• 2:44
  Speaker 6: would have probably paid the home mortgage. It was just
• 2:46
  Speaker 6: coming up with that down payment. And so that's why
• 2:49
  Speaker 6: I'm a big fan of having a goal of financially
• 2:52
  Speaker 6: Every month, I have a goal of how much I
• 2:54
  Speaker 6: want in my account for the next move I'm about
• 2:56
  Speaker 6: to make. So I go really hard to reach it.
• 2:58
  Speaker 6: And I've been doing really good at that, and so
• 3:00
  Speaker 6: it helps me. Not because I used to be such
• 3:03
  Speaker 6: a spend I used to love to shop, like I
• 3:05
  Speaker 6: would be at the mall literally every week, you know,
• 3:08
  Speaker 6: what can I buy? What can I get? But when
• 3:10
  Speaker 6: you have goals like that, it makes you realize how
• 3:12
  Speaker 6: unimportant that can be and not that you can't treat yourself,
• 3:15
  Speaker 6: but it'll be like, Okay, I've hit this goal, I
• 3:18
  Speaker 6: made this money. I have an extra fifteen hundred dollars.
• 3:21
  Speaker 6: What am I going to do with it? You know,
• 3:23
  Speaker 6: let me do something nice for myself. But I really
• 3:25
  Speaker 6: do things, like I'm really big on using points. I
• 3:28
  Speaker 6: use my MX cards for everything, and like, even I
• 3:32
  Speaker 6: have a new house in Brooklyn that I'm renovating, I'm
• 3:35
  Speaker 6: putting everything on my MX car so I can get
• 3:37
  Speaker 6: those points and then I'll be buying furniture with the
• 3:40
  Speaker 6: points that I got from using my MX card. You know,
• 3:42
  Speaker 6: when I travel, I always fly on Delta because I
• 3:46
  Speaker 6: have so many free flights now that I can use,
• 3:48
  Speaker 6: and I get upgraded all the time because of my
• 3:50
  Speaker 6: status on there.
• 3:51
  Speaker 7: So I just try to do things that I know
• 3:53
  Speaker 7: makes sense for me.
• 3:55
  Speaker 5: That's something that's extremely important.
• 3:57
  Speaker 2: Shot to the Hipop hundred Style has like.
• 4:01
  Speaker 4: And all this stuff, but he was like, he's not
• 4:03
  Speaker 4: buying all this design and stuff. He spends one hundred
• 4:05
  Speaker 4: thousand dollars a month on Facebook ads and on his
• 4:07
  Speaker 4: AMEX cards and he gets like seven thousand dollars reward
• 4:10
  Speaker 4: points back so that seven thousand dollars reward points.
• 4:13
  Speaker 5: He just goes to Nemen markets and just goes crazy.
• 4:16
  Speaker 3: I got my first.
• 4:17
  Speaker 7: Lily bag and my first and bag with points on
• 4:19
  Speaker 7: my MX car.
• 4:22
  Speaker 5: As though that's a gym in itself, Well it is that.
• 4:26
  Speaker 4: Well we got to save that one in that's that's separate.
• 4:29
  Speaker 4: That's a different one. But Angela, that's something that's extremely important.
• 4:33
  Speaker 4: As far as house hacking. I don't want people to
• 4:35
  Speaker 4: breeze over that because shout out to MPT the mortgage guy.
• 4:38
  Speaker 4: We talked to him and he always talks about house hacking.
• 4:40
  Speaker 4: House hacking is like when you live like what she's doing.
• 4:43
  Speaker 4: She's a two family home, you live on one unit,
• 4:46
  Speaker 4: you you rent out the other unit, or three family
• 4:48
  Speaker 4: or four family whatever. So I think it says a
• 4:50
  Speaker 4: lot when somebody she's famous and she's humble enough to
• 4:55
  Speaker 4: living in a two family home renting out the other
• 4:58
  Speaker 4: part because she under stands that it makes economic sense
• 5:01
  Speaker 4: a lot of us, Like some people are struggling day
• 5:04
  Speaker 4: to day and they got too much.
• 5:06
  Speaker 5: Prize somebody else right right, like what I'm saying. So
• 5:09
  Speaker 5: it's like I don't want that to get missed in
• 5:11
  Speaker 5: this conversation.
• 5:12
  Speaker 2: Let alone, you couldn't walk in the property before she
• 5:14
  Speaker 2: had it.
• 5:16
  Speaker 7: Yeah, I can't even see it.
• 5:18
  Speaker 5: That's that's a lot to think about.
• 5:19
  Speaker 4: People think about it, like I said, she has to
• 5:22
  Speaker 4: do that, but she understands the importance of it.
• 5:24
  Speaker 5: And it's like, why not.
• 5:26
  Speaker 3: Can we talk about balance?
• 5:27
  Speaker 2: Me? We go back and forth all the time about balance.
• 5:30
  Speaker 2: He likes to have life unbalanced, just how he operates.
• 5:33
  Speaker 2: I like to have balance. I'm listening to you. You're
• 5:34
  Speaker 2: waking up at four am. Most people can't do that.
• 5:37
  Speaker 2: That's dedication, right, your Hall of Fame radio career. Right,
• 5:40
  Speaker 2: you have the real estate portfolio, you got the juice bars.
• 5:42
  Speaker 2: You just said, you got the coffee shop. People forget that.
• 5:45
  Speaker 3: You actually have a very successful podcast, right lip service.
• 5:48
  Speaker 3: By the way, we came to your live show.
• 5:50
  Speaker 5: We did come to.
• 5:56
  Speaker 3: Great show. Davies was there eighty five hours? All brothers
• 5:59
  Speaker 3: were there.
• 5:59
  Speaker 5: Yeah.
• 6:00
  Speaker 3: What does balance look like for you? Erners? What's up?
• 6:04
  Speaker 3: You ever walk into a small.
• 6:06
  Speaker 2: Business and everything just works like the checkout is fast,
• 6:09
  Speaker 2: the receipts are digital, tipping is a breeze, and you're
• 6:13
  Speaker 2: out the door before the line even builds odds are
• 6:16
  Speaker 2: they're using Square. We love supporting businesses that run on
• 6:20
  Speaker 2: Square because it just feels seamless. Whether it's a local
• 6:22
  Speaker 2: coffee shop, a vendor at a pop up market, or
• 6:25
  Speaker 2: even one of our merch partners, Square makes it easy
• 6:29
  Speaker 2: for them to take payments, manage inventory, and run their
• 6:32
  Speaker 2: business with confidence, all from one simple system. If you're
• 6:36
  Speaker 2: a business owner or even just thinking about launching something soon,
• 6:40
  Speaker 2: Square is hands down one of the best tools out
• 6:42
  Speaker 2: there to help you start, run, and grow. It's not
• 6:45
  Speaker 2: just about payments, it's about giving you time back so
• 6:49
  Speaker 2: you can focus on what matters most ready. To see
• 6:51
  Speaker 2: how Square can transform your business, visit Square dot com
• 6:55
  Speaker 2: backslash go backslash eyl to learn more. That's sure com backslash,
• 7:01
  Speaker 2: go backslash eyl. Don't wait, don't hesitate. Let's Square handle
• 7:06
  Speaker 2: the back end so you can keep pushing your vision forward.
• 7:12
  Speaker 2: This episode is brought to you by P and C Bank.
• 7:15
  Speaker 2: A lot of people think podcasts about work are boring,
• 7:18
  Speaker 2: and sure, they definitely can be, but understanding of professionals
• 7:22
  Speaker 2: routine shows us how they achieve their success little by little,
• 7:25
  Speaker 2: day after day.
• 7:27
  Speaker 3: It's like banking with P and C Bank.
• 7:29
  Speaker 2: It might seem boring to save, plan and make calculated
• 7:32
  Speaker 2: decisions with your bank, but keeping your money boring is
• 7:35
  Speaker 2: what helps you live a more happily fulfilled life. P
• 7:39
  Speaker 2: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
• 7:44
  Speaker 2: Boring since eighteen sixty five is a service mark of
• 7:46
  Speaker 2: the PNC Financial Service Group, Inc. P and C Bank
• 7:50
  Speaker 2: National Association Member FDIC.
• 7:54
  Speaker 1: You just realized your business needed to hire someone yesterday.
• 7:59
  Speaker 1: How can you find and amazing candidates fast? Easy? Just
• 8:03
  Speaker 1: use Indeed stop struggling to get your job posts seen
• 8:06
  Speaker 1: on other job sites. With Indeed sponsored jobs, your post
• 8:10
  Speaker 1: jumps to the top of the page for your relevant candidates,
• 8:13
  Speaker 1: so you can reach the people you want faster. According
• 8:16
  Speaker 1: to Indeed data, sponsored jobs posted directly on Indeed have
• 8:20
  Speaker 1: forty five percent more applications than non sponsored jobs. Don't
• 8:24
  Speaker 1: wait any longer, speed up your hiring right now with
• 8:27
  Speaker 1: Indeed and listeners of this show will get a seventy
• 8:30
  Speaker 1: five dollars sponsored job credit to get your jobs more
• 8:33
  Speaker 1: visibility at indeed dot com slash pod katz thirteen. Just
• 8:39
  Speaker 1: go to Indeed dot com slash pod Katz thirteen right now,
• 8:44
  Speaker 1: and support our show by saying you heard about Indeed
• 8:47
  Speaker 1: on this podcast. Terms and conditions apply. Hiring Indeed is
• 8:51
  Speaker 1: all you need.
• 8:53
  Speaker 6: Oh and the last thing I want to say is
• 8:54
  Speaker 6: I did open a store in Detroit, also a herestore,
• 8:56
  Speaker 6: a private label, and I can't forget that.
• 8:58
  Speaker 7: I just open it in January.
• 9:03
  Speaker 8: And go support it.
• 9:04
  Speaker 7: Yeah, it's all thank you. It's like Emil and the
• 9:06
  Speaker 7: Quinn every baby, come see.
• 9:07
  Speaker 5: Us heavy in Detroit.
• 9:10
  Speaker 3: Yeah, listen. How do you manage this? All? So?
• 9:15
  Speaker 6: Balance for me is like like I've been working all
• 9:18
  Speaker 6: day today. I know I have things that I have
• 9:19
  Speaker 6: to do. But what I try to do is I
• 9:21
  Speaker 6: always try to have one day out of the week
• 9:23
  Speaker 6: during the week that I don't have a lot to do.
• 9:25
  Speaker 6: So on that one day, I might have like a
• 9:27
  Speaker 6: couple of really light things and that's when I handle
• 9:29
  Speaker 6: stuff I need to handle for myself. And then on
• 9:31
  Speaker 6: the weekend I try to make sure one of those
• 9:33
  Speaker 6: two days is not super busy for me. Also because
• 9:36
  Speaker 6: it is important to take a break, Like I try
• 9:38
  Speaker 6: to make sure I get enough sleep. If I know
• 9:39
  Speaker 6: I've been up working, I make sure like I'm going
• 9:42
  Speaker 6: to bed at nine o'clock on you know, Thursday night,
• 9:45
  Speaker 6: because I plan it, like I plan everything. My schedule
• 9:47
  Speaker 6: is just super rigid and organized, like down to the minute,
• 9:51
  Speaker 6: and so you know, that's it. And then a lot
• 9:54
  Speaker 6: of times I try to mix business with pleasure as
• 9:56
  Speaker 6: far as if I know I had some things to do,
• 9:58
  Speaker 6: and you know, before there was a pin pandemic, but
• 10:00
  Speaker 6: if I know I had somewhere to be, I'll invite
• 10:02
  Speaker 6: some of my friends to come with me because I
• 10:04
  Speaker 6: know they'll have a good time. For me, it might
• 10:05
  Speaker 6: be work, but for a lot of them it's fun.
• 10:08
  Speaker 6: And so that makes work fun for me when I
• 10:11
  Speaker 6: have people that are fun around me.
• 10:15
  Speaker 5: There you have it.
• 10:18
  Speaker 3: It sounds like, offer to achieve over the next five
• 10:22
  Speaker 3: years and how can we help?
• 10:24
  Speaker 7: You said, what, what's.
• 10:25
  Speaker 4: The biggest goal you're trying to achieve over the last
• 10:27
  Speaker 4: five years, and how can we help?
• 10:30
  Speaker 6: So my biggest goal is for these businesses that I started,
• 10:33
  Speaker 6: I want them to be right now. I'm in an
• 10:35
  Speaker 6: investment stage of everything, I feel like, you know, except
• 10:37
  Speaker 6: for the juice bar, which has been open for a
• 10:40
  Speaker 6: few years now, but like with the hair store, I
• 10:42
  Speaker 6: need that to you know, start making money. And I
• 10:46
  Speaker 6: mean it makes money now, but I need to get
• 10:48
  Speaker 6: the return on my investment for the coffee company. The
• 10:51
  Speaker 6: goal for the coffee company is for me to be
• 10:53
  Speaker 6: able to be in stores, and I have all these
• 10:55
  Speaker 6: meetings with different supermarket chains coming up for that and
• 10:58
  Speaker 6: for the Press Juice Company, and so I want to
• 11:00
  Speaker 6: make sure that those businesses are you know, huge multi
• 11:05
  Speaker 6: million dollars one hundred million dollar businesses, and that's the
• 11:08
  Speaker 6: goal for those. And then I'm going to franchise the
• 11:11
  Speaker 6: coffee shops, and so I'm building it out so that
• 11:13
  Speaker 6: it'll be franchisable so that other people can open their own.
• 11:17
  Speaker 6: And we're doing our whole education program when it comes
• 11:19
  Speaker 6: to coffee, because there's a lot in the coffee business
• 11:21
  Speaker 6: that people don't know about.
• 11:22
  Speaker 7: And every business that I do, I try to make.
• 11:25
  Speaker 6: Sure that I'm always educating myself on it and taking
• 11:28
  Speaker 6: classes and like learning everything so that I become somewhat
• 11:32
  Speaker 6: of an expert on it, because I think it's the
• 11:34
  Speaker 6: worst thing if you open the business and don't know
• 11:36
  Speaker 6: anything about the business that you open.
• 11:39
  Speaker 4: That's a gym. That is a gym. Moddies and gentlemen,
• 11:43
  Speaker 4: are we gonna take the question, Yeah, how we doing
• 11:47
  Speaker 4: with time? And they gotta get up early. You got
• 11:48
  Speaker 4: a couple more minutes.
• 11:50
  Speaker 7: Yeah, I'm fine.
• 11:51
  Speaker 3: Can we try like an ask you segment?
• 11:53
  Speaker 5: Yeah, let's do it.
• 11:53
  Speaker 3: Let's do it. I think he's familiar with that.
• 11:56
  Speaker 5: Let's do it.
• 11:57
  Speaker 3: All right, let's go Drew ground.
• 11:58
  Speaker 5: We're not getting we're not getting really avice.
• 12:00
  Speaker 3: No relationship advice, be respectful. Uh, dree yourself. He's been
• 12:06
  Speaker 3: up here. That's going on.
• 12:07
  Speaker 8: How's it going, y'all? My question actually for for you guys,
• 12:12
  Speaker 8: it was about opening up the roth So I just
• 12:16
  Speaker 8: had my brother open up a rock. But when I
• 12:18
  Speaker 8: was looking up roth a count's on Investipedia, it was
• 12:21
  Speaker 8: saying that it has to be earned income and he
• 12:25
  Speaker 8: doesn't work a job and he never has, so, like,
• 12:28
  Speaker 8: is he able to open up that roth a count?
• 12:31
  Speaker 5: How old is he?
• 12:33
  Speaker 3: He's nineteen?
• 12:36
  Speaker 4: I mean, yeah, they're not really gonna check it like that.
• 12:37
  Speaker 4: It's really for the miners, I mean, but yeah, it's
• 12:40
  Speaker 4: supposed to be. Like I mean, but how is he
• 12:41
  Speaker 4: gonna put money if he never if he never had,
• 12:43
  Speaker 4: if he doesn't work, you're gonna put money in for him?
• 12:46
  Speaker 8: Well, he has a he has a banker, he has
• 12:48
  Speaker 8: like a savings account with some money that he's made
• 12:51
  Speaker 8: throughout his life, and we were just gonna move that
• 12:53
  Speaker 8: money into his RYE.
• 12:55
  Speaker 4: Yeah, I mean to give your because every the bigger
• 12:58
  Speaker 4: we get a lot of people. The technical police are
• 13:01
  Speaker 4: coming down on us at an alarming rate. I put
• 13:03
  Speaker 4: a poster Cazar and they're like, that's tax fraud. He's
• 13:06
  Speaker 4: gonna put you in jail. So pay your taxes. Yes, yes,
• 13:12
  Speaker 4: it has to be earned income that you received. So
• 13:14
  Speaker 4: I'm gonna give you the technical answer on this, and
• 13:17
  Speaker 4: you can tell him that once he starts working, then
• 13:19
  Speaker 4: he can start putting money into his retirement account.
• 13:22
  Speaker 2: To hear a more extended conversation, make sure to check
• 13:24
  Speaker 2: out our live YouTube show Market Mondays every Monday, eight
• 13:27
  Speaker 2: pm Easter Standard Time, seven pm Central, and check out
• 13:31
  Speaker 2: the Market Monday's podcast on iHeart, Spotify, Apple or wherever
• 13:34
  Speaker 2: you download your podcast.
• 13:36
  Speaker 9: Now my graduates from my school being false back and
• 13:42
  Speaker 9: drop drop Mike, drop drop drop.
• 14:00
  Speaker 6: Hey, everyone, this is Tatiana Manning, host of Real Talk
• 14:04
  Speaker 6: with PGNI. We know small businesses are dealing with rising
• 14:07
  Speaker 6: costs and looking for ways to boost their bottom line.
• 14:10
  Speaker 6: That's why we're doing the show to help customers save
• 14:12
  Speaker 6: with simple and easy to do steps by making sure
• 14:15
  Speaker 6: they're on the most optimal rate for their business.
• 14:18
  Speaker 8: So check us out on pg dot com, Ford Slash,
• 14:20
  Speaker 8: real Talk, and all other streaming platforms.