Latest / Earn Your Leisure / Study Hall: How to Buy a Home in 2022 with MG The Mortgagee Guy

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Study Hall: How to Buy a Home in 2022 with MG The Mortgagee Guy · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: We're gonna get it. We're gonna get this going. Yeah,
• 1:06
  Speaker 3: the hardest working men in showbiz.
• 1:09
  Speaker 4: You may never see nothing like this again.
• 1:10
  Speaker 3: It's gonna be rare, it's gonna be extremely.
• 1:13
  Speaker 4: You may nothing like this again.
• 1:15
  Speaker 5: Extremely rare, I'll tell you that much. Let's get the
• 1:19
  Speaker 5: back call out, trying to get to this core the
• 1:23
  Speaker 5: right way. I hope everybody's doing well out there. Jam
• 1:29
  Speaker 5: pack week for us, man, we have Steve Harvey for
• 1:31
  Speaker 5: Market Mondays this episode. Yesterday we got caught phased Land
• 1:36
  Speaker 5: and we are back today to round out the week
• 1:40
  Speaker 5: with a live with MG the Mortgage Guy on.
• 1:46
  Speaker 3: How to Buy Own twenty twenty two. Yeah, so you know, grin,
• 1:51
  Speaker 3: don't stop.
• 1:53
  Speaker 5: We are in Atlanta headquarters. If you notice the core
• 2:00
  Speaker 5: so yeah, man, it's a wow. Just finish a dope interview.
• 2:04
  Speaker 5: So literally yeah, yeah.
• 2:07
  Speaker 4: That's gonna be coming away real soon.
• 2:10
  Speaker 3: Yeah.
• 2:10
  Speaker 4: Shout out to Houston, all the restaurants to us out there.
• 2:14
  Speaker 6: Shout out to our Age down, Family, Pricenta Though, Mike Brown, Jazz,
• 2:19
  Speaker 6: what's going on?
• 2:20
  Speaker 4: What else we got out the slim Thug. Everybody in
• 2:24
  Speaker 4: Houston's going on in Atlanta?
• 2:25
  Speaker 3: What's up?
• 2:27
  Speaker 2: New York?
• 2:28
  Speaker 4: We will be home shortly. We'll be home. Hot out there. Oh,
• 2:35
  Speaker 4: brother MG about to jump on right now, he tells you.
• 2:38
  Speaker 3: Yeah, yes, so open enrollment. This is what we do
• 2:44
  Speaker 3: every Wednesday.
• 2:45
  Speaker 5: The last Wednesday of the month every single month for
• 2:48
  Speaker 5: Eyol University.
• 2:49
  Speaker 3: It gives you a peak into eyl University.
• 2:51
  Speaker 5: And we picked different topics and I just felt like
• 2:55
  Speaker 5: this month it would be a great time to address
• 3:00
  Speaker 5: how to bout home and different aspects of it because
• 3:02
  Speaker 5: we've been talking a lot about you.
• 3:04
  Speaker 3: Know, interest rates.
• 3:07
  Speaker 5: Going through the roof and if homes are going to
• 3:12
  Speaker 5: you know, have a decline and different things of that nature.
• 3:14
  Speaker 5: So a lot of people are nervous, a lot of
• 3:16
  Speaker 5: people are anti, a lot of people are on the
• 3:18
  Speaker 5: fence if they should buy a home or not because
• 3:21
  Speaker 5: you know, the.
• 3:23
  Speaker 3: Climate, the environment that we're in right now.
• 3:26
  Speaker 5: So I feel like it just be a good time
• 3:28
  Speaker 5: to just have that conversation, not only from a personal
• 3:32
  Speaker 5: property standpoint, but also from an investing standpoint as well.
• 3:36
  Speaker 3: So I just feel like, you know, it'll be a
• 3:38
  Speaker 3: good time to just revisit this conversation.
• 3:40
  Speaker 5: And middle of the year looks like we're going to
• 3:43
  Speaker 5: be headed towards a recession officially announced in a few weeks.
• 3:46
  Speaker 5: So real estate and you can never we can never
• 3:50
  Speaker 5: talk about real estate enough. So I feel like now
• 3:52
  Speaker 5: it's a perfect opportunity to talk about real estate and
• 3:56
  Speaker 5: this is why we chose this topic right now.
• 3:58
  Speaker 3: So and then, of course.
• 4:00
  Speaker 5: MG is somebody that you know, only makes sense to
• 4:03
  Speaker 5: have this conversation with because he is not only you know,
• 4:07
  Speaker 5: ey L alumni, but a pioneer in the space and
• 4:10
  Speaker 5: somebody that has helped pioneer the whole financial literacy movement
• 4:15
  Speaker 5: when it comes to real estate. So, you know, always
• 4:18
  Speaker 5: good to hear his perspective from somebody that's actually on
• 4:21
  Speaker 5: the inside officer, not just somebody that just invest in property,
• 4:26
  Speaker 5: somebody that actually is working in the field day to
• 4:29
  Speaker 5: day and people will proved for mortgages, getting people funding.
• 4:33
  Speaker 3: The bay home.
• 4:34
  Speaker 2: This is what he's.
• 4:36
  Speaker 3: So.
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  Speaker 6: So yeah, man, there is an MLS five A seven
• 4:41
  Speaker 6: zero zero.
• 4:43
  Speaker 4: Also going to energy the mortgage guy.
• 4:46
  Speaker 2: What's yeah? What's good? Fellas? What's good?
• 4:49
  Speaker 7: Man?
• 4:49
  Speaker 2: How you're feeling, man?
• 4:51
  Speaker 4: How you feeling?
• 4:51
  Speaker 3: Man?
• 4:53
  Speaker 2: You know, I'm not one hundred percent. I ain't gonna
• 4:55
  Speaker 2: hold you up, but I'm here, I'm alive, I'm blessed,
• 4:58
  Speaker 2: and I'm ready. I'm ready to show the funk out.
• 5:01
  Speaker 4: Man.
• 5:01
  Speaker 2: Let's go, Man, I can't I came. I came here
• 5:05
  Speaker 2: for violence today. Man, Let's go. I've been I've been
• 5:07
  Speaker 2: I've been cooped up for a whole week. Let's go Man,
• 5:10
  Speaker 2: where my earners at Man, Let's go see.
• 5:13
  Speaker 4: I gave you the co host joint, so I right,
• 5:16
  Speaker 4: I mean we're in for a treat tonight. I saw
• 5:18
  Speaker 4: what's happening.
• 5:18
  Speaker 5: So before we start, I just definitely want to give
• 5:21
  Speaker 5: my condolences to EYO alumni that passed away today, Dal
• 5:24
  Speaker 5: Freeman Jr. If you're familiar with Dal Freeman, he came
• 5:28
  Speaker 5: on an episode a while ago, like a year and
• 5:30
  Speaker 5: a half ago, and you man from Nashville, Tennessee that
• 5:35
  Speaker 5: was big in real estate. Actually, slim Husky's another EYO alumni.
• 5:40
  Speaker 5: He invested in their company and was help mentoring them
• 5:43
  Speaker 5: and you know, started his company and sold it for
• 5:46
  Speaker 5: twenty two million dollars.
• 5:48
  Speaker 3: And it's a great story.
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  Speaker 5: And he gave a lot of great insight on how
• 5:52
  Speaker 5: to evaluate a business, how to sell a business, how
• 5:56
  Speaker 5: to you know, buy real estate, different things of that nature.
• 5:58
  Speaker 3: And somebody that you know, we became ain't real good with.
• 6:01
  Speaker 5: And he actually was a paid member of eyl University
• 6:05
  Speaker 5: also and added a lot of value to e y
• 6:08
  Speaker 5: L University and added a lot of value to anybody
• 6:11
  Speaker 5: online that was interested on entrepreneurship and investment.
• 6:14
  Speaker 3: So sad to hear about his passing today.
• 6:20
  Speaker 5: You know, definitely send our condolences to his family, uh,
• 6:24
  Speaker 5: to his friends and you know, ey l Is we
• 6:28
  Speaker 5: could say the alumni because it is it is a
• 6:30
  Speaker 5: fraternity and it's you.
• 6:32
  Speaker 3: Know some people we speak too more often than other people.
• 6:35
  Speaker 5: But you know, when you come more early a leisure
• 6:38
  Speaker 5: you definitely you know, become part of the family.
• 6:41
  Speaker 3: And we developed relationships with a lot of the people.
• 6:43
  Speaker 5: So this is the first person that has ever come
• 6:46
  Speaker 5: on our platform that has passed away, so you know,
• 6:50
  Speaker 5: that's something that's new to us. But we all know that,
• 6:53
  Speaker 5: you know, life is short, life is fragile, and you
• 6:57
  Speaker 5: know nobody looks forever. So that that the key is
• 6:59
  Speaker 5: to make the most out of life that you have,
• 7:02
  Speaker 5: appreciate it, make wise decisions and leave your family in
• 7:07
  Speaker 5: a in a in a better position when you pass
• 7:10
  Speaker 5: away to to you know, have peace of mind, have
• 7:13
  Speaker 5: generational wealth, and create some level of you know, stability.
• 7:18
  Speaker 3: So I'm sure that he did that.
• 7:20
  Speaker 5: So yeah, I just wanted to give give Mark and
• 7:23
  Speaker 5: Thrones to speak a little bit before we start this
• 7:25
  Speaker 5: because we're gonna talking about real estated I'm talking about
• 7:27
  Speaker 5: a lot of money. But ultimately, we got to keep
• 7:30
  Speaker 5: in mind that life is the most important. Life is
• 7:33
  Speaker 5: the most important asset that we will ever have, and
• 7:37
  Speaker 5: we can never you know, take it from granted. Because
• 7:40
  Speaker 5: just to be able to breathe as a blessing, just
• 7:43
  Speaker 5: to be able to you know, have your your right
• 7:45
  Speaker 5: mind as a blessing. So we're all blessed at the
• 7:48
  Speaker 5: end of the day. If you're watching this, you're blessed.
• 7:50
  Speaker 5: If you're able to type something in the chat, you're blessed.
• 7:54
  Speaker 5: If you're able to you know, speak, tell a friend
• 7:56
  Speaker 5: and tell a friend, you're blessed. And we're blessed to
• 7:59
  Speaker 5: be able to you know, be here in front of
• 8:01
  Speaker 5: you and to speak.
• 8:04
  Speaker 8: So yeah, yeah, And when we talk about legacy, and
• 8:08
  Speaker 8: I said this kind of a few times, the legacy
• 8:10
  Speaker 8: is really written by the people you've impacted. And so
• 8:13
  Speaker 8: I'm sure his legacy will live on, especially through us
• 8:16
  Speaker 8: and the people he's mentored, his business partners and the
• 8:18
  Speaker 8: husky And he's always like, like Rashad said that he's
• 8:22
  Speaker 8: a man who's always offered guidance with somebody that we
• 8:26
  Speaker 8: could text and the cole on when we needed him
• 8:28
  Speaker 8: even invite us to visit his own island with his family.
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  Speaker 4: So a gracious man.
• 8:33
  Speaker 8: And again we offer our condolens sisters on Timmy passing.
• 8:36
  Speaker 4: But we're gonna keep the legacy going. Entrepreneurship is something
• 8:39
  Speaker 4: he was big on.
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  Speaker 9: Creating businesses with something he was big on, but understanding
• 8:43
  Speaker 9: how to evaluate and potentially tell your business was something
• 8:45
  Speaker 9: that he was big on.
• 8:46
  Speaker 8: So you know, we're gonna keep the legacy going. And
• 8:48
  Speaker 8: I'm sure Ernest in here and the people that are
• 8:50
  Speaker 8: watching them to be out as well. So again, rest
• 8:52
  Speaker 8: in peace to dolphimjury and adults to the family.
• 8:57
  Speaker 3: Yeah.
• 8:58
  Speaker 2: Yeah, he was an actavern a two that he was.
• 9:01
  Speaker 2: He was active and you know, for a man to
• 9:04
  Speaker 2: have made that amount of money and he's in a
• 9:07
  Speaker 2: private Facebook group paid and he paid to be in
• 9:09
  Speaker 2: there and giving a lot of insight to the earners
• 9:13
  Speaker 2: almost daily. And what he's did online, you know, he
• 9:17
  Speaker 2: championed being the freak, the free game champ basically, you know,
• 9:20
  Speaker 2: and I think that's something that all three of us
• 9:23
  Speaker 2: and our whole movement what we do too is try
• 9:26
  Speaker 2: to give a lot of free game more than paid right,
• 9:30
  Speaker 2: So he was definitely a legend. And rest in peace
• 9:32
  Speaker 2: to him and his family because you know, it's sad man,
• 9:35
  Speaker 2: you never know, you never know, and it's crazy. I
• 9:38
  Speaker 2: was thinking, like I haven't seen him a lot this
• 9:39
  Speaker 2: year too, because normally he's super active online and just
• 9:43
  Speaker 2: to hear hear the news today is just kind of
• 9:46
  Speaker 2: kind of took a step back. So rest in peace
• 9:49
  Speaker 2: to Daryl Framan, Sr. And conduless to his family and
• 9:52
  Speaker 2: God bless that man.
• 9:54
  Speaker 5: Yes, so we're going to get into this. We'll talk
• 9:57
  Speaker 5: about you, but I want to talk about that later on.
• 10:00
  Speaker 5: I feel like, you know, we can, we can get
• 10:02
  Speaker 5: into the programming, get some education, and then we can
• 10:05
  Speaker 5: kind of you know, talk about that. So yeah, we
• 10:08
  Speaker 5: do not evenna waste no time, MG, the Floyd yours.
• 10:10
  Speaker 5: We're going to talk about how to buy a home.
• 10:12
  Speaker 5: This is something that's very very important. A lot of
• 10:15
  Speaker 5: people want to buy homes, whether it's your first home,
• 10:17
  Speaker 5: second home, third home, investment property. You know, it's a
• 10:21
  Speaker 5: lot of it's a lot of fear in the marketplace.
• 10:25
  Speaker 5: So let's give it people some education.
• 10:28
  Speaker 2: Well, Warren Buffett once said the famous quote, right when
• 10:32
  Speaker 2: people are being greeting, be fearful, and when people are
• 10:37
  Speaker 2: being fearful, be greeting. So I need everybody to understand
• 10:41
  Speaker 2: that this is one of those times, and it's going
• 10:44
  Speaker 2: to be better than the pandemic. I'm telling you. I
• 10:47
  Speaker 2: told you guys two years ago during the pandemic April
• 10:49
  Speaker 2: twenty twenty, I was on the Breakfast Club and I
• 10:51
  Speaker 2: was on that and I told y'all, when they open
• 10:54
  Speaker 2: up America, the flood gates are going to happen. The
• 10:57
  Speaker 2: government's going to do everything in their power to prevent
• 11:00
  Speaker 2: a crash, and they did in the real estate space,
• 11:04
  Speaker 2: I'm speaking specifically, and it went crazy and I was
• 11:07
  Speaker 2: online screaming to the top of my lungs. You need
• 11:09
  Speaker 2: to go and get this cheap money because it won't
• 11:11
  Speaker 2: last forever. As you all can see, it didn't last forever.
• 11:15
  Speaker 2: It lasted for about eighteen twenty months, and now interest
• 11:19
  Speaker 2: rates have skyrocketed. But I want everybody to understand that
• 11:23
  Speaker 2: presents probably the best opportunity for real estate people in
• 11:27
  Speaker 2: the next two years, because there's going to be less
• 11:30
  Speaker 2: buyers in the market, there's going to be more inventory
• 11:33
  Speaker 2: that's going to hit the market, and especially if you
• 11:36
  Speaker 2: are investing, this is going to be probably the best
• 11:39
  Speaker 2: opportunity for you as an investor to buy real estate.
• 11:42
  Speaker 2: Just pay attention to what everything that's happening in the news.
• 11:45
  Speaker 2: They are spewing fear left and right when it comes
• 11:49
  Speaker 2: to housing. So this is the time, in my opinion,
• 11:52
  Speaker 2: where you guys need to really start thinking like investors,
• 11:54
  Speaker 2: even if you're buying your first home, think like an investor.
• 11:57
  Speaker 2: And this is something I've been screaming for the top
• 11:59
  Speaker 2: of my lungs. Also, stop being emotional. I think like
• 12:02
  Speaker 2: an investor because this opportunity will pass you by if
• 12:05
  Speaker 2: you don't take action on it. Regardless of where the
• 12:08
  Speaker 2: interest rates are right now, still a great opportunity to buy.
• 12:12
  Speaker 2: So I'm gonna share my screen man. Let's get busy
• 12:14
  Speaker 2: with this real quick. Now. You gotta forgive me. I'm
• 12:17
  Speaker 2: new to this. Mac Tuks done did all types of
• 12:20
  Speaker 2: new stuff in the in the studio. I don't I'm
• 12:22
  Speaker 2: a PC guy, so I don't even He told me
• 12:25
  Speaker 2: I got a swipe with three fingers. I'm like, what
• 12:26
  Speaker 2: is this, bro? I don't know what you're talking about.
• 12:28
  Speaker 2: So ya gotta ya, gotta forgive me. Where I don't
• 12:33
  Speaker 2: even know how you okay, share your screen? I think
• 12:35
  Speaker 2: he said, share my desktop? Right, yeah, how you do
• 12:40
  Speaker 2: share desktop? Oh? Shared desktop?
• 12:43
  Speaker 8: One?
• 12:43
  Speaker 2: Okay, you see I don't know what I'm doing.
• 12:45
  Speaker 4: Yea, now we see, we can see it now see.
• 12:48
  Speaker 2: My desktop now? Yeah, all right, I see this.
• 12:52
  Speaker 3: Yeah, all right.
• 12:54
  Speaker 2: So I'm not the most tech guy, but tooks. Since
• 12:58
  Speaker 2: I just came off with COVID, he said, I'm not
• 12:59
  Speaker 2: being next next to you next week, alrightfully, so so
• 13:05
  Speaker 2: all right, let me how let me figure out how
• 13:08
  Speaker 2: to maximize this? How do you maximize your his slides
• 13:13
  Speaker 2: show slid show where you see that up it's.
• 13:16
  Speaker 5: Right there next to ship, next to share, next to
• 13:18
  Speaker 5: the yellow share. By then you are getting a tutorial
• 13:22
  Speaker 5: on how to work in computer.
• 13:25
  Speaker 3: No, go back, go back.
• 13:29
  Speaker 2: When you see your sly show, so you see.
• 13:31
  Speaker 9: You move the curses to the right up right down, down,
• 13:36
  Speaker 9: down down down.
• 13:37
  Speaker 2: The slash show slas show right here. Yeah you know
• 13:39
  Speaker 2: I couldn't see it because you guys was in like
• 13:41
  Speaker 2: the picture and picture thing was there.
• 13:43
  Speaker 6: That's okay, now we're good.
• 13:46
  Speaker 2: Now we're good, all right, So it's not Garland and
• 13:48
  Speaker 2: them A less number five eight seven zero zero, better
• 13:50
  Speaker 2: known as MG the mortgage Guy. Let's get busy. We're
• 13:54
  Speaker 2: gonna teach you how to buy a house in twenty
• 13:56
  Speaker 2: twenty two. Who am I? I am the mortgage banker,
• 14:00
  Speaker 2: the mortgage goal, the mortgage king. Whatever you want to
• 14:02
  Speaker 2: call me, Just call me something. I've been in a
• 14:05
  Speaker 2: business for nineteen going on twenty years, funded almost a
• 14:08
  Speaker 2: billion dollars. That's a billion with to be in my career.
• 14:13
  Speaker 2: I'm one of the top mortgage people in the country.
• 14:16
  Speaker 2: I run a division of a mortgage bank. We are
• 14:18
  Speaker 2: here to help you, guys, achieve your real estate goals.
• 14:21
  Speaker 2: Whether you're looking to buy your primary residents, buy a
• 14:25
  Speaker 2: secondary home or a vacation home, or purchase investment properties.
• 14:30
  Speaker 2: Meet and my team could help you achieve your goals.
• 14:33
  Speaker 2: All right, just hit the link in my Instagram bio
• 14:36
  Speaker 2: and we will take care of you. All my resources
• 14:39
  Speaker 2: are there, all right. So today we're gonna keep it
• 14:41
  Speaker 2: real simple. I'm gonna give you a lot of information.
• 14:45
  Speaker 2: If you're ready for some information, put some fires in
• 14:47
  Speaker 2: a chat. MG is ready to go. We're gonna teach
• 14:52
  Speaker 2: you how to prepare your lend defile. I'm gonna teach
• 14:55
  Speaker 2: you how to hire the right lender right with low
• 14:59
  Speaker 2: program and I'm gonna go briefly on a couple programs.
• 15:02
  Speaker 2: I'm gonna discuss closing course, the underwriting process. Then I'll
• 15:06
  Speaker 2: open it up for some Q and A. But there's
• 15:08
  Speaker 2: gonna be a lot of information in this and I'm
• 15:10
  Speaker 2: gonna take you to a couple different websites also, So
• 15:13
  Speaker 2: I'm gonna need you guys to really focus in on
• 15:16
  Speaker 2: this because I want to show you, guys how to
• 15:17
  Speaker 2: go get certain information on your own versus it being
• 15:21
  Speaker 2: in a slide show. All right, preparing your lend to
• 15:25
  Speaker 2: file most important, most important. A lot of people are
• 15:28
  Speaker 2: not organized. This is one of the biggest problems that
• 15:32
  Speaker 2: I see when people are looking to purchase real estate.
• 15:35
  Speaker 2: They are not organized. So one of the key things
• 15:38
  Speaker 2: I want to tell you guys, the document checklist that
• 15:41
  Speaker 2: you see here is pretty standard across the board for
• 15:44
  Speaker 2: all lenders. And I love to see all that fire
• 15:46
  Speaker 2: in the chat YouTube. Y'all keep it going. Let's hit
• 15:48
  Speaker 2: that like button share it's with ten people immediately, all right,
• 15:52
  Speaker 2: and y'all screenshot this slide because these are the documents
• 15:55
  Speaker 2: that you are gonna need for any lender. That you
• 15:58
  Speaker 2: go to in America. All Right, the last two years
• 16:00
  Speaker 2: of W two's you're gonna need a two year work history.
• 16:03
  Speaker 2: Now if you are a two year If you are
• 16:06
  Speaker 2: a W two employee, you do not need to show
• 16:11
  Speaker 2: tax returns unless that lender has overlays, which are guidelines
• 16:15
  Speaker 2: on top of goidelines. But for the most part, if
• 16:18
  Speaker 2: you are a simple W two employee, you do not
• 16:22
  Speaker 2: need to show your tax returns. We do need to
• 16:24
  Speaker 2: see a two year work history. Now. One of the
• 16:29
  Speaker 2: biggest things that people always tell me is, Matt, I
• 16:32
  Speaker 2: have five jobs in the past two years, but they
• 16:34
  Speaker 2: will all W two. Does this disqualify me? No, it
• 16:37
  Speaker 2: does not. Any gaps in employment we have to document
• 16:43
  Speaker 2: with a letter of explanation that gap in employment. All right,
• 16:48
  Speaker 2: If you go from working from Target to ups to
• 16:52
  Speaker 2: Best Buy, that's okay. As long as your income is
• 16:56
  Speaker 2: the same or increasing, you won't have no issues. But
• 16:59
  Speaker 2: if you're income is decreasing, then that could be an issue.
• 17:03
  Speaker 2: All right, last two Now, I want to say another thing.
• 17:07
  Speaker 2: If you go from W two to ten ninety nine
• 17:11
  Speaker 2: or self employed, you start your clock back over. So
• 17:14
  Speaker 2: if you go from working at the post office and
• 17:18
  Speaker 2: then you want to open up your event space and
• 17:21
  Speaker 2: quit and fire your job. Then guess what you start
• 17:24
  Speaker 2: all over? You start all over all right, last two
• 17:30
  Speaker 2: years tax returns. This is truly only if you're self
• 17:33
  Speaker 2: employed or if you own real estate investments. Is where
• 17:38
  Speaker 2: we have to look at your last two years tax returns.
• 17:41
  Speaker 2: If you are self employed, last thirty days of pay stuffs.
• 17:46
  Speaker 2: We need all pay stuffs for the past thirty years.
• 17:48
  Speaker 2: So if you get paid by weekly, we need the
• 17:50
  Speaker 2: last two. If you get paid weekly, we need the
• 17:52
  Speaker 2: last four. If you have multiple jobs, we need to
• 17:56
  Speaker 2: have all the pay stuffs for multiple jobs. Now I'm
• 17:59
  Speaker 2: glad of just said that to myself. Multiple jobs if
• 18:02
  Speaker 2: you have, if you work two jobs at the same time,
• 18:06
  Speaker 2: you need to have a two year consistent work history
• 18:09
  Speaker 2: of working those two jobs. So let's just say you
• 18:12
  Speaker 2: work at UPS in the daytime and then you work
• 18:15
  Speaker 2: at Target overnight, and you want to use both of
• 18:18
  Speaker 2: those incomes to help you qualify. That is okay. We
• 18:21
  Speaker 2: just need to show that you work that both of
• 18:23
  Speaker 2: these jobs consistently and consecutively at the same two year timeframe.
• 18:29
  Speaker 2: All right, Because a lot of people start new jobs
• 18:31
  Speaker 2: and they say I've been at this new job for
• 18:33
  Speaker 2: a year and they want to use that income. That
• 18:36
  Speaker 2: income won't work all right, So I just want you
• 18:38
  Speaker 2: guys to please understand that if you have multiple jobs
• 18:41
  Speaker 2: and you work in Simon TEAMUS, so you need to
• 18:42
  Speaker 2: have a two year history for the lenda to use
• 18:45
  Speaker 2: that last two months of your bank statements. All pages
• 18:49
  Speaker 2: very important. If your bank statement says page six of
• 18:54
  Speaker 2: seven and that last page is left blank, the underwriter
• 18:57
  Speaker 2: will still need to see page seven. Even if it
• 19:01
  Speaker 2: says this page is left blank intentionally, we still need
• 19:06
  Speaker 2: to see that statement. Now what your bank statements, what
• 19:12
  Speaker 2: we are looking for is the large deposits. So you
• 19:16
  Speaker 2: don't want to have too many large deposits, especially cash
• 19:20
  Speaker 2: going into your bank account, because we cannot document that transaction. Okay,
• 19:27
  Speaker 2: if you have NSF fees, non sufficient funds, you don't
• 19:32
  Speaker 2: want to show those bank statements because if you cannot
• 19:35
  Speaker 2: manage your money and you go a negative every month,
• 19:37
  Speaker 2: then why would a bank want to give you a
• 19:38
  Speaker 2: loan that shows you have no discipline. So you have
• 19:41
  Speaker 2: to make sure that there's no NSF fees. What I
• 19:44
  Speaker 2: try to tell everybody is this right. If you are
• 19:48
  Speaker 2: purchasing a home, even if you're preparing right now, you
• 19:51
  Speaker 2: say I want to buy six months or eight months,
• 19:53
  Speaker 2: open up a separate account, call that your real estate fund,
• 19:57
  Speaker 2: name it whatever you want to call it, right and
• 20:00
  Speaker 2: then have if you're gonna use your direct deposits, if
• 20:03
  Speaker 2: you're gonna use whatever money that you're making that you
• 20:05
  Speaker 2: can legally document, have that money only deposited into that account,
• 20:10
  Speaker 2: and don't try to do minimum transactions in that account.
• 20:15
  Speaker 2: That way you eliminate a lot of headache and a
• 20:18
  Speaker 2: lot of future paperwork. Copy of your ID has to
• 20:22
  Speaker 2: be a government issued ID, driver's licensed passport, and it
• 20:26
  Speaker 2: has to be valid. If you're getting a gift, which
• 20:29
  Speaker 2: is allowed for most traditional programs, conventional FHAVA, you can
• 20:35
  Speaker 2: get a gift, it just has to be documented with
• 20:38
  Speaker 2: a gift letter. And we have to see the donors'
• 20:43
  Speaker 2: bank statements showing them that they have the money and
• 20:47
  Speaker 2: they're able to gift it over to you. Now, what
• 20:50
  Speaker 2: a lot of people try to do, and I'm gonna
• 20:52
  Speaker 2: tell you this right now, don't do this. They will
• 20:56
  Speaker 2: have mattress money and say hey, I got fifty k
• 20:58
  Speaker 2: on my mattress, or to only came my mattress. I'm
• 21:01
  Speaker 2: gonna give it to my mom, let her deposit it,
• 21:03
  Speaker 2: and then she's gonna wire me the money as a gift.
• 21:06
  Speaker 2: Doesn't work like that. You can't do that. We're gonna
• 21:09
  Speaker 2: we're gonna see that all day and we won't be
• 21:12
  Speaker 2: able to use that money. So, if you're gonna get
• 21:14
  Speaker 2: a gift from a family member or meeting, or a parent,
• 21:18
  Speaker 2: a sibling, you have to make sure whatever amount that
• 21:20
  Speaker 2: they're gifting you that they have that money in their
• 21:23
  Speaker 2: account already. And then you're gonna need a completed loan application.
• 21:27
  Speaker 2: Whatever lenda that you're going to do business with, they
• 21:30
  Speaker 2: will be able to provide you with with that online
• 21:37
  Speaker 2: loan application. So again, screenshot this, save it, and study this.
• 21:44
  Speaker 2: All right? Okay, how do I go to the next one?
• 21:48
  Speaker 2: I hate this Mac? All right, So let's let's go.
• 21:53
  Speaker 2: Oh you see stupid Mac? All right, here we go.
• 21:59
  Speaker 2: I'm giving you out a juice early. All right. Now,
• 22:01
  Speaker 2: now that you have your documents and you're ready to
• 22:05
  Speaker 2: go to get pre approved, But I need you guys
• 22:09
  Speaker 2: to understand the difference between a regular traditional pre approval
• 22:14
  Speaker 2: and the fully underwritten pre approval. Is right, A regular
• 22:18
  Speaker 2: preapproval is basically a letter that is issued by a
• 22:24
  Speaker 2: loan officer at the bank. They have reviewed your income,
• 22:28
  Speaker 2: your assets, your credit report, and they have determined that
• 22:33
  Speaker 2: based off of their calculations, that you can get X,
• 22:37
  Speaker 2: Y and Z amount of money. This is not a
• 22:40
  Speaker 2: commitment to lend from the bank. I need you guys
• 22:43
  Speaker 2: to all understand that a loan officer like myself, although
• 22:47
  Speaker 2: I am a great loan officer, I do not issue
• 22:52
  Speaker 2: loan commitments. The only person that can issue a loan
• 22:55
  Speaker 2: commitment on behalf of a bank is an underwriter. So,
• 22:59
  Speaker 2: to be quite honest with you, that pre approval letter
• 23:02
  Speaker 2: that even myself and my team is going to give you,
• 23:06
  Speaker 2: it's not worth the paper is printed on because people
• 23:09
  Speaker 2: can have a pre approval letter and still get declined
• 23:12
  Speaker 2: once they get into contract for a house to buy.
• 23:16
  Speaker 2: This happens every single day nationwide. The reason being sometimes
• 23:22
  Speaker 2: loan officers make mistakes and they do not calculate your
• 23:26
  Speaker 2: income properly. These things happen all the time, So I
• 23:31
  Speaker 2: need you guys to understand pre approvals are worthless. Although
• 23:35
  Speaker 2: it is needed, it is needed, and I want you
• 23:38
  Speaker 2: guys to please understand of what I'm really truly saying here,
• 23:43
  Speaker 2: it is needed for you to go out there and
• 23:45
  Speaker 2: shop for a home. This, that, and a third. It
• 23:47
  Speaker 2: gives you an idea. If you got a great loan
• 23:49
  Speaker 2: officer like me. I like to tell people my pre
• 23:51
  Speaker 2: approvals are solid goal because I pre underwrite because of
• 23:54
  Speaker 2: my skill set, right, But not every loan officer is
• 23:57
  Speaker 2: built the light. So what I always recommend and my
• 24:01
  Speaker 2: team office and service also is a fully underwritten pre approval.
• 24:06
  Speaker 2: This basically means that the loan officer not only did
• 24:09
  Speaker 2: he review your income, credit documentation, etc. He now he's
• 24:16
  Speaker 2: going to pack he or she is going to package
• 24:18
  Speaker 2: up that loan as if you're in contract. And then
• 24:21
  Speaker 2: now they're going to submit that loan to underwriting and
• 24:25
  Speaker 2: the address is going to be a TBD address to
• 24:29
  Speaker 2: be determined. And now the underwriting department from the lender,
• 24:33
  Speaker 2: they will actually review your file as if it's a
• 24:36
  Speaker 2: real deal, meaning you have executed contracts of sale. They're
• 24:40
  Speaker 2: going to review it and they're going to issue what's
• 24:42
  Speaker 2: called the conditional mortgage approval or conditional loan commitment. And
• 24:50
  Speaker 2: this means that the lender is committing that they will
• 24:54
  Speaker 2: give you x, Y and z amount of dollars based
• 24:58
  Speaker 2: off of you meeting these conditions. Now, when we get
• 25:01
  Speaker 2: laid into this presentation, we're going to talk about the
• 25:04
  Speaker 2: underwriting process and conditions and things of that nature. But
• 25:08
  Speaker 2: what I love about having a fully underwritten pre approval.
• 25:12
  Speaker 2: This gives you all the work done upfront, so you
• 25:16
  Speaker 2: know exactly what the lender wants to see to close.
• 25:20
  Speaker 2: Three things they going to want to see is a
• 25:22
  Speaker 2: contract to sale, a clean tider report, and the appraisal. Right, obviously,
• 25:27
  Speaker 2: you don't get those things until you sign contract, but
• 25:30
  Speaker 2: you'll have everything else that that underwriter likes or doesn't
• 25:33
  Speaker 2: like on that conditional mortgage approval letter. So now you
• 25:37
  Speaker 2: can start working on that credit approval side while you're
• 25:41
  Speaker 2: out here shopping. And also once you get so let's
• 25:44
  Speaker 2: just say they want a lot of explanation, they want
• 25:46
  Speaker 2: to see the gift funds, etc. Etc. You can can
• 25:49
  Speaker 2: submit all these what we call conditions to the underwriting
• 25:53
  Speaker 2: department and they'll clear those conditions so that way, by
• 25:57
  Speaker 2: time you find a house, only thing you need is
• 26:00
  Speaker 2: probably three or four things and you can close. Now,
• 26:02
  Speaker 2: what this is going to do, and I'm highly recommending
• 26:05
  Speaker 2: everybody who's watching this live and who's going to watch
• 26:08
  Speaker 2: this on the replay. If you're buying a house in
• 26:11
  Speaker 2: today's market, if you want to be competitive, you need
• 26:13
  Speaker 2: a fully underwritten per approval letter because this is going
• 26:17
  Speaker 2: to give you that ability to close fast two to
• 26:20
  Speaker 2: three weeks. Right in most markets, people are still waving
• 26:24
  Speaker 2: financing contingencies, meaning they don't if they don't, they're waving
• 26:29
  Speaker 2: their right to financing. So if they get declined by bank,
• 26:34
  Speaker 2: it doesn't matter. They still have to buy a loan.
• 26:36
  Speaker 2: So when you are in and that's typically for cash buyers,
• 26:41
  Speaker 2: you see that. But you have some buyers who are
• 26:43
  Speaker 2: getting financing, who are going through this process are also
• 26:46
  Speaker 2: waving their financing contingencies because they know they have a
• 26:49
  Speaker 2: mortgage already. All right, So this gives you a competitive advantage,
• 26:54
  Speaker 2: especially if you're someone who's putting down three point five
• 26:57
  Speaker 2: five percent down payment in today's market. All right, Now,
• 27:02
  Speaker 2: this is all going to be hard credit polls pre approvals.
• 27:05
  Speaker 2: Whether you go with a fully underwritten pre approval or
• 27:09
  Speaker 2: traditional pre approval, it's all hard polls. Okay, pause, Hiring
• 27:18
  Speaker 2: the right lender, all right, Hiring the right lender is
• 27:22
  Speaker 2: very important. Like I said to you guys earlier, not
• 27:26
  Speaker 2: all loan officers are built alike. Now, these are the
• 27:31
  Speaker 2: three types of companies that originate loans. And I always
• 27:34
  Speaker 2: get the question of what's the difference between a broker
• 27:36
  Speaker 2: and a banker and the retail thing. So I want
• 27:38
  Speaker 2: you guys to screenshot this slide or so so that
• 27:42
  Speaker 2: way you can go back and you can reference this
• 27:44
  Speaker 2: on your own. A mortgage broker is basically a middleman, right.
• 27:49
  Speaker 2: A mortgage broker does not lend money they're going to
• 27:52
  Speaker 2: They are on board or signed up with several lenders
• 27:57
  Speaker 2: and their job is to quote unquote shot through those
• 28:00
  Speaker 2: lenders to see who you can get the best deal with. Right.
• 28:05
  Speaker 2: A mortgage banker is like MG where we lend, we process,
• 28:11
  Speaker 2: we underwrite, we fund, we do everything in house. Okay,
• 28:16
  Speaker 2: but we also sell the loan too the retail big bank,
• 28:21
  Speaker 2: because we're not set up for servicing. The retail big
• 28:24
  Speaker 2: bank is more so like the Chase, the Wells Fargos
• 28:27
  Speaker 2: of the world, where they offer more products, not just mortgages.
• 28:31
  Speaker 2: They'll offer you check in savings accounts, personal loans, auto loans.
• 28:36
  Speaker 2: You know, credit unions will kind of fit into this
• 28:38
  Speaker 2: category as well. All right, now, the difference between the
• 28:42
  Speaker 2: all three look. First of all, I want to just
• 28:46
  Speaker 2: make this clear. When you're working with any company a
• 28:50
  Speaker 2: Chase of Wells Fargo, you know, a loan depot, any
• 28:53
  Speaker 2: of the big brand names like the Quick and loans
• 28:56
  Speaker 2: of Rocket Mortgages, whatever you see out there, you have
• 28:58
  Speaker 2: to remember you're not working with that company. You're working
• 29:01
  Speaker 2: with the loan officer. So you have to make sure
• 29:03
  Speaker 2: that you're interview on these loan officers right to make
• 29:08
  Speaker 2: sure that they fully are capable of helping you achieve
• 29:12
  Speaker 2: your real estate goal. If you are looking to buy
• 29:14
  Speaker 2: your first primary residence, one of the questions that people
• 29:17
  Speaker 2: always ask me, you're Matt, what questions do you ask
• 29:20
  Speaker 2: when you are interviewing these people? I always tell people
• 29:24
  Speaker 2: to ask questions you already know the answer to. But
• 29:26
  Speaker 2: the very first question should be, if you're buying your
• 29:29
  Speaker 2: primary house, ask them are they a homeowner? Very simple?
• 29:34
  Speaker 2: Are you a homeowner? If you're looking to buy an
• 29:37
  Speaker 2: investment property, ask them do you own investment properties? Currently?
• 29:43
  Speaker 2: I am of the firm belief, and this is no
• 29:45
  Speaker 2: disrespect to anybody in my industry who does not own
• 29:48
  Speaker 2: a home or investment properties right now. But I am
• 29:50
  Speaker 2: on the firm belief that if you are going to
• 29:52
  Speaker 2: work with someone, they should actually own real estate right
• 29:59
  Speaker 2: because how can they really identify with you right in
• 30:03
  Speaker 2: the process of what you're going to go through. That's
• 30:07
  Speaker 2: just me personally. So these are some of the questions
• 30:10
  Speaker 2: that I would ask, and then ask them questions that
• 30:12
  Speaker 2: you already know the answers to. Right. You may know
• 30:16
  Speaker 2: a little bit about faha, you may know a little
• 30:18
  Speaker 2: bit about conventional So ask them three or four things
• 30:21
  Speaker 2: that you know the answer to like the back of
• 30:23
  Speaker 2: your hand, and just see how they're going to answer
• 30:26
  Speaker 2: those questions. You'll be surprised that a lot of people
• 30:30
  Speaker 2: just don't know what they're doing. And by you asking
• 30:33
  Speaker 2: questions you already know the answer to, you can kind
• 30:35
  Speaker 2: of get an understanding of their knowledge base, and then
• 30:38
  Speaker 2: you can kind of dig a little bit deeper from
• 30:40
  Speaker 2: there and determine if he or she will be right
• 30:44
  Speaker 2: to be a part of your real estate team, because
• 30:46
  Speaker 2: you have to remember, guys, whether you're buying your first
• 30:48
  Speaker 2: house or your tenth house, this is a business. Real
• 30:51
  Speaker 2: estate is a business. If you can follow on your
• 30:53
  Speaker 2: tax in terms of get tax deductions. It's a business.
• 30:55
  Speaker 2: I don't care if you're gonna live in it. I
• 30:56
  Speaker 2: don't care when nobody tells you. So you have to
• 30:58
  Speaker 2: always remember you are the CEO of your business. You
• 31:02
  Speaker 2: are in charge. You have to put your team together,
• 31:05
  Speaker 2: and you have to make sure that everybody on your team, lenders, realtors, attorneys,
• 31:11
  Speaker 2: whoever it is, everybody has your best interests in mind,
• 31:16
  Speaker 2: all right, Always remember that. So these are the three
• 31:19
  Speaker 2: types of companies that originate loans. Just one to give
• 31:22
  Speaker 2: you guys a little bit game on this so you
• 31:24
  Speaker 2: can kind of understand who's who are what are the players?
• 31:27
  Speaker 2: All right, let's talk about some loan programs, all right,
• 31:33
  Speaker 2: So I'm gonna stick to the usual suspects tonight. We
• 31:38
  Speaker 2: got a minimum five eight's credit score for FHA, three
• 31:42
  Speaker 2: point five percent down payment is required. Max sells concession
• 31:47
  Speaker 2: is six percent. A sellers concession is one the seller
• 31:50
  Speaker 2: agrees to pay a portion or all of your closing costs. Now,
• 31:56
  Speaker 2: a sellers concession is not guaranteed. A sellers concent session,
• 32:01
  Speaker 2: how gets included into your loan amount only if the
• 32:04
  Speaker 2: house appraises for the higher value. So I'm gonna give
• 32:08
  Speaker 2: you guys a quick example, and I'm gonna use easy numbers,
• 32:11
  Speaker 2: just acting as an example. If you're buying a home
• 32:15
  Speaker 2: for one hundred thousand dollars and you want to get
• 32:18
  Speaker 2: a six percent sellers concession, which is six thousand dollars, right,
• 32:24
  Speaker 2: a six percent sales concession six thousand dollars on one
• 32:27
  Speaker 2: hundred k. That means one hundred and six thousand dollars
• 32:31
  Speaker 2: is what your house, the house has to appraise for
• 32:34
  Speaker 2: in order for you to get a sealers concession. And
• 32:38
  Speaker 2: now your down payment is based off of the one
• 32:41
  Speaker 2: hundred and six thousand, not the one hundred thousand. The
• 32:45
  Speaker 2: seller will still net the one hundred, but those that
• 32:48
  Speaker 2: six thousand is being is increasing your finance and so
• 32:52
  Speaker 2: you can get a credit for your closing costs. That's
• 32:56
  Speaker 2: how a sales concession works. So if you're in a
• 32:59
  Speaker 2: competitive market like we are now, I believe the opportunity
• 33:03
  Speaker 2: for buyers to get sellers concessions are going to come
• 33:06
  Speaker 2: back as interest rates skyrocket. So I will encourage all
• 33:10
  Speaker 2: my buyers who are watching this. Closed mouth does not
• 33:13
  Speaker 2: get fed. I repeat, closed mouth does not get fed.
• 33:18
  Speaker 2: It doesn't hurt the ask, but consult with your real
• 33:20
  Speaker 2: estate professional who's making the office on your behalf to
• 33:24
  Speaker 2: see what the market is dictating at that moment before
• 33:27
  Speaker 2: you ask, because you don't want to put yourself at
• 33:32
  Speaker 2: a disadvantage at the same time, all right, one to
• 33:37
  Speaker 2: four family FAHA approved condos and mixed use properties are
• 33:43
  Speaker 2: allowed with FAHA. Now, for those of you who do
• 33:46
  Speaker 2: not know what a mixed use property is, this is
• 33:49
  Speaker 2: basically a commercial building. It will have typically in the Northeast.
• 33:54
  Speaker 2: How a mixed use property looks is a storefront on
• 33:57
  Speaker 2: the bottom and residential units on a on the tottom.
• 34:01
  Speaker 2: Think about your local bodeggas right, that is mixed use properties.
• 34:07
  Speaker 2: The key with the mixed use properties for it to
• 34:09
  Speaker 2: be approved for FHA, it cannot exceed four total units
• 34:14
  Speaker 2: with the commercial and the residential, and the residential units
• 34:19
  Speaker 2: have to be fifty one percent of the liverable square footage.
• 34:24
  Speaker 2: So if you can find a mixed use property, this
• 34:29
  Speaker 2: can be a gold mod for your first time home
• 34:31
  Speaker 2: buyers because now commercial rent is going to be higher
• 34:36
  Speaker 2: than residential, so eventually this will give you more cash flow.
• 34:40
  Speaker 2: So this is a great opportunity for those buyers out
• 34:44
  Speaker 2: there who live in areas where there are these type
• 34:47
  Speaker 2: of properties. To buy a commercial building with as little
• 34:51
  Speaker 2: as three point five percent down payment, all right, seventy
• 34:56
  Speaker 2: five percent of the rental income can be used to
• 34:59
  Speaker 2: help you qualify five on a two to four unit property.
• 35:03
  Speaker 2: So easy numbers for you guys right now. So if
• 35:05
  Speaker 2: the rental income is one thousand dollars, the lender will
• 35:09
  Speaker 2: use seven hundred and fifty dollars of that thousand dollars
• 35:12
  Speaker 2: to help you qualify for the loan, even if the
• 35:16
  Speaker 2: property is vacant. Okay, three to four unit properties or
• 35:23
  Speaker 2: triplex and quads in certain areas will require at minimum
• 35:27
  Speaker 2: three months of reserves. What are reserves? MG Reserves are
• 35:32
  Speaker 2: your mortgage payment times three. So if your mortgage payment
• 35:35
  Speaker 2: is one thousand dollars a month, then you need to
• 35:38
  Speaker 2: have at least three thousand dollars post closing, either in
• 35:43
  Speaker 2: your checking, your savings, your brokerage, your four one K.
• 35:46
  Speaker 2: It needs to be able to be liquidated, obviously, so
• 35:51
  Speaker 2: the bank will want to see proof that you can
• 35:53
  Speaker 2: liquidate it if needed to. But as long as you
• 35:56
  Speaker 2: have it, then boom, you will qualify. Another thing about
• 36:00
  Speaker 2: three or four family unit it's very important. I didn't
• 36:02
  Speaker 2: put this on the slide. It's called the FHA self
• 36:06
  Speaker 2: sufficiency Test. The FAHA self sufficiency test very important with
• 36:12
  Speaker 2: this basically means that it doesn't matter if you qualify,
• 36:15
  Speaker 2: you've been pre approved. If you're looking to buy a
• 36:18
  Speaker 2: three to four family if that house is not self sufficient,
• 36:22
  Speaker 2: then FAHA will not fund that three or four family unit.
• 36:26
  Speaker 2: So for an example, let's just say if your mortgage
• 36:29
  Speaker 2: payment is one thousand dollars a month, and you're buying
• 36:33
  Speaker 2: a four family unit, and let's just say all of
• 36:37
  Speaker 2: the rental unit on this property equals up to one
• 36:41
  Speaker 2: thousand dollars a month, So let's just say two hundred
• 36:45
  Speaker 2: and fifty dollars per unit. Again, I'm using real simple
• 36:47
  Speaker 2: numbers for you guys. We're gonna use seventy five percent
• 36:52
  Speaker 2: of that thousand dollars, which gives you seven hundred and
• 36:54
  Speaker 2: fifty dollars. But your mortgage payment is one thousand dollars,
• 36:58
  Speaker 2: So now that property is negative by two hundred and
• 37:02
  Speaker 2: fifty dollars, So that property is not self sufficient. So
• 37:06
  Speaker 2: after that seventy five percent value that's taken away the mortgage,
• 37:13
  Speaker 2: that seventy five percent needs to be one thousand dollars
• 37:16
  Speaker 2: minimum to cover. So in that case, you would need
• 37:19
  Speaker 2: at least a fifteen hundred dollars mortgage at a very
• 37:24
  Speaker 2: a fifteen hundred dollars rental income to qualify for the
• 37:28
  Speaker 2: FHA self sufficiency test. So that's very important. Guys. For
• 37:32
  Speaker 2: those of you out there who are looking to purchase
• 37:35
  Speaker 2: three or four family profits with FHA, it's very important
• 37:39
  Speaker 2: you understand the FHA self sufficiency test. If you have
• 37:43
  Speaker 2: a pre approval for a three or four family, contact
• 37:46
  Speaker 2: that loan officer and make sure that they understand the
• 37:49
  Speaker 2: FHA self sufficiency test all right. Grants, gifts for one
• 37:56
  Speaker 2: kids can be used, co signers can be use. Max
• 38:01
  Speaker 2: loan amount are based on the FAHA county loan limits.
• 38:04
  Speaker 2: Easy way to find your FAHA county loan limits is
• 38:07
  Speaker 2: just google your county and just put you know, if
• 38:11
  Speaker 2: I'm in Nasaal County right now, so I'll put Nasau
• 38:14
  Speaker 2: County FAHA twenty twenty two loan limits and they'll come
• 38:18
  Speaker 2: right up right. So, but you have to check case
• 38:22
  Speaker 2: certain states like New York, this is a high cost area.
• 38:25
  Speaker 2: We can get approved for more money like a four
• 38:27
  Speaker 2: family we can go up to one point nine million.
• 38:30
  Speaker 2: In other areas you can't go that high. So you
• 38:33
  Speaker 2: have to really check to see if FHA will even
• 38:36
  Speaker 2: allow because of those county loan limits. And most importantly,
• 38:41
  Speaker 2: most importantly, FAHA is only for primary residents only. When
• 38:47
  Speaker 2: you are speaking to a Linda, take the word investment
• 38:50
  Speaker 2: out of your vocabulary. Yes, we know it's a multifamily
• 38:55
  Speaker 2: and it will be a quart unquote investment, but you
• 38:58
  Speaker 2: have to start using determinology owner occupied multi family and
• 39:06
  Speaker 2: FAHA requires you to live in this for one year.
• 39:10
  Speaker 2: After one year, if you want to move out and
• 39:13
  Speaker 2: live your best life, go right ahead. But don't commit
• 39:16
  Speaker 2: mortgage fraud. Guys, don't commit mortgage froud. All right, let's
• 39:22
  Speaker 2: get busy. Let's talk about some student loans because a
• 39:24
  Speaker 2: lot of you guys got student loans. If you got
• 39:25
  Speaker 2: student loans loans, please type yes in the chat. Please.
• 39:29
  Speaker 2: If you have student loans, please type yes in the chat.
• 39:33
  Speaker 2: While I take some quick water break. Troy shot, I'm
• 39:40
  Speaker 2: good on time.
• 39:42
  Speaker 3: World is yours?
• 39:43
  Speaker 4: Man? You know that?
• 39:44
  Speaker 3: Man?
• 39:45
  Speaker 2: All right, say no more.
• 39:46
  Speaker 6: Don't commit mortgage fraud please number one.
• 39:54
  Speaker 2: I had to say it three times.
• 39:55
  Speaker 4: Bro, This is a message brought to you by the
• 39:56
  Speaker 4: good folks that this.
• 39:58
  Speaker 2: Is disclaimer guidelines. All right, So we got a lot
• 40:05
  Speaker 2: of people on the YouTube chat that's talking about they
• 40:07
  Speaker 2: got student loans. So then you guys need to go
• 40:09
  Speaker 2: ahead and screenshot this if you are FAHA potential borrower.
• 40:13
  Speaker 2: The great thing is FAHA changed the student loan guidelines
• 40:18
  Speaker 2: about a year ago, which was a home run for
• 40:20
  Speaker 2: you guys. This is breaking down the calculations of it, right.
• 40:23
  Speaker 2: So FAHA uses the payment listed on the credit report
• 40:26
  Speaker 2: or account statement, but if the loan is deferred or
• 40:29
  Speaker 2: for barans, the lender would use half a point of
• 40:32
  Speaker 2: the outstanding balance. Let me give you a couple examples.
• 40:35
  Speaker 2: If the payment on your credit report, let's just say
• 40:37
  Speaker 2: you owe two hundred thousand K and student loans and
• 40:40
  Speaker 2: your credit report shows that your monthly payment is three
• 40:43
  Speaker 2: hundred dollars, the lender will use the actual documented payment
• 40:47
  Speaker 2: on your credit report three hundred dollars a year ago.
• 40:51
  Speaker 2: A year ago that was not the case, the lender
• 40:53
  Speaker 2: will probably use close to two thousand dollars or one
• 40:56
  Speaker 2: percent rule right payment not on a credit report. If
• 41:00
  Speaker 2: your payment, if your balance to your federal loans is
• 41:02
  Speaker 2: fifty K and a monthly payment on your credit report
• 41:05
  Speaker 2: is zero, the lender will still use two hundred and
• 41:08
  Speaker 2: fifty dollars as your payment, will calculate it into your
• 41:10
  Speaker 2: debt to income ratio although you have a zero payment.
• 41:14
  Speaker 2: Why because we're using a half a point of that
• 41:17
  Speaker 2: fifty thousand. A year ago we were using one percent,
• 41:21
  Speaker 2: and it will be five hundred dollars incorporated into your
• 41:26
  Speaker 2: debt to income ratio if the payment is zero on
• 41:29
  Speaker 2: your credit report. Let's say you owe seventy K and
• 41:33
  Speaker 2: federal loans and your credit report shows a monthly payment
• 41:35
  Speaker 2: is zero. The lender will use three hundred and fifty
• 41:38
  Speaker 2: dollars for your payment, unless you acts the servicer to
• 41:43
  Speaker 2: recalculate the payment due to a significant change or family size.
• 41:47
  Speaker 2: That can be known as an income based repayment plan.
• 41:50
  Speaker 2: Right if your loan is in deferment. If you all
• 41:53
  Speaker 2: hundred K federal loans and your credit report shows that
• 41:56
  Speaker 2: the loans aren't deferment, the loan officer you will use
• 41:58
  Speaker 2: five hundred dollars as your actual monthly payment unless you
• 42:02
  Speaker 2: can document from the servicer that you have a lower
• 42:05
  Speaker 2: payment under income driven repayment plan when that deferment ends.
• 42:10
  Speaker 2: So guys, these rules completely change and FAHA and conventional
• 42:16
  Speaker 2: had boxed out so many people with student loans because
• 42:19
  Speaker 2: of the stupid as one percent calculation, right, even though
• 42:22
  Speaker 2: you wasn't paying that much, we still had to calculate
• 42:26
  Speaker 2: one percent. With these new options, that's available for you.
• 42:30
  Speaker 2: The government understood and understands that it's difficult for people
• 42:37
  Speaker 2: who are going to school and coming out with large
• 42:39
  Speaker 2: debt to buy real estate. So they're trying to encourage
• 42:43
  Speaker 2: home ownership. So they change the guidelines, which I think
• 42:47
  Speaker 2: is a home run for everybody who typed yes and
• 42:50
  Speaker 2: chat that they have student loans. So again, screenshot this
• 42:55
  Speaker 2: study it and let's move forward. Let's talk about student
• 43:01
  Speaker 2: loans that are collections. A lot of you are in collections.
• 43:05
  Speaker 2: You are default on your student loans. Please understand, if
• 43:09
  Speaker 2: you are in collections or default, you will not get
• 43:11
  Speaker 2: a loan until you take those student loans out of
• 43:15
  Speaker 2: the firm out of default or collection status. So please, please, please,
• 43:21
  Speaker 2: even if it's not popping up on your credit report,
• 43:24
  Speaker 2: remember lenders are doing basic they're basically doing background checks.
• 43:29
  Speaker 2: We run a system called caveas we will find that
• 43:32
  Speaker 2: you have some debt, some student loan debt, and we
• 43:35
  Speaker 2: will tell you no your decline. So if you know
• 43:39
  Speaker 2: you have that debt, work out some payment arrangement and
• 43:43
  Speaker 2: move forward. How to fund grants? I want you to
• 43:48
  Speaker 2: all screenshot this, Okay, I want you to all screenshot
• 43:53
  Speaker 2: this website. And I'm actually gonna try to go to
• 43:56
  Speaker 2: this website. Let's see. Can Y still see my screen?
• 44:05
  Speaker 2: All right? So let me see it. I'm gonna move
• 44:07
  Speaker 2: this damn how you move this stupid zoom bar? Ya
• 44:12
  Speaker 2: who said the Mac was good? Shout out the Apple though,
• 44:16
  Speaker 2: But I can't.
• 44:17
  Speaker 4: Just click clicked one of those things, right and the
• 44:20
  Speaker 4: type the website.
• 44:21
  Speaker 2: No, I haven't already opened, but I can't move the
• 44:23
  Speaker 2: stupid bar. Uh all right, why is the bar not moving?
• 44:33
  Speaker 10: Ah?
• 44:33
  Speaker 2: There we go? There we go, There we go, there
• 44:35
  Speaker 2: we go. Bat here we go? All right? Can I
• 44:38
  Speaker 2: still see my screen? So we at the local home buying? Right?
• 44:44
  Speaker 2: So remember I was just here. This is the website.
• 44:47
  Speaker 2: Let me go back to it real quick. As you
• 44:49
  Speaker 2: can tell. I'm not that computer savvy, So I'm back
• 44:51
  Speaker 2: at the website. Hud dot gov. Hot, hud dot gov.
• 44:55
  Speaker 2: Forward slash buying, forward slash local buying. Somebody typed that
• 44:59
  Speaker 2: in chat hud dot gov forward slash buying, forward slash
• 45:05
  Speaker 2: local buying. All right, Ari, I see you in the
• 45:10
  Speaker 2: YouTube chat that put that link in the chat for me, Ari.
• 45:14
  Speaker 2: So this is the website. This is what it looked like.
• 45:17
  Speaker 2: A lot of people don't even understand that there's a
• 45:19
  Speaker 2: lot of money out there, especially through a lot of
• 45:22
  Speaker 2: local programs, and people are always asking me, how do
• 45:25
  Speaker 2: you find this money? Well, this is one website that
• 45:29
  Speaker 2: people don't know. And you see you have all fifty
• 45:31
  Speaker 2: states right here. So I'm going to pick a state, right, Uh,
• 45:36
  Speaker 2: give me a state. Somebody give me a state, Troy,
• 45:38
  Speaker 2: give me a state.
• 45:40
  Speaker 4: Uh, California.
• 45:42
  Speaker 2: Let's go to Cali, California. All right, So we're in Cali.
• 45:48
  Speaker 2: So you see it says home ownership. You got to
• 45:50
  Speaker 2: getting started. So if you look right here, it says
• 45:53
  Speaker 2: buying a home. So you can even see if you
• 45:55
  Speaker 2: got HUD homes for sale right here, you got home
• 45:57
  Speaker 2: ownership vouchers right there. Right, you even got stuff for
• 46:01
  Speaker 2: home repairs and avoiding foreclosure. But let's talk about assistance
• 46:05
  Speaker 2: and programs. Click on that now as you see here
• 46:08
  Speaker 2: homeowners Ship Assistance for California. You've got state wide and
• 46:12
  Speaker 2: regional programs, and you have all the programs right here.
• 46:17
  Speaker 2: How you can even go by sort by city or county. Right,
• 46:21
  Speaker 2: So let's go sorted by county. Where's La la is.
• 46:27
  Speaker 2: Let's see, let's take it. Let's go to Fresno. Let's
• 46:31
  Speaker 2: see what's in Fresno. No, it wants me to leave.
• 46:34
  Speaker 2: I'm not gonna take no chance. I'm not gonna leave
• 46:36
  Speaker 2: the website because I don't know of it. But y'all
• 46:38
  Speaker 2: see how easy that is. Right, Let's go to Let's
• 46:41
  Speaker 2: go to another state. Right, let's go to Illinois. Since
• 46:44
  Speaker 2: it's right here, same thing, real easy to find. Look
• 46:48
  Speaker 2: for buying for a home. Homeownership assistant programs. You go
• 46:53
  Speaker 2: right here, you scroll down. You got all the state
• 46:56
  Speaker 2: wide and region new programs all right here for you guys.
• 47:01
  Speaker 2: Programs by the city. You got contact information right here.
• 47:06
  Speaker 2: You got who you can contact for what city it's in.
• 47:10
  Speaker 2: It's all right here, ladies and gentlemen, it's all right here,
• 47:14
  Speaker 2: right under your nose. And they don't talk about this stuff,
• 47:17
  Speaker 2: and it's very simple and easy to find. I'm gonna
• 47:20
  Speaker 2: go to New York because we're in New York, right
• 47:23
  Speaker 2: assistance and programs, and then you have all the New
• 47:26
  Speaker 2: York programs and even by city by town, you got
• 47:30
  Speaker 2: Long Island, New York, Hudson Valley upstate, and you have
• 47:34
  Speaker 2: contact numbers, you have websites, emails. I mean, you have
• 47:38
  Speaker 2: everything that you need up here to find you some
• 47:41
  Speaker 2: free money, all right, everything you need up here to
• 47:46
  Speaker 2: find your money. And New York got a lot of money.
• 47:48
  Speaker 2: You see how long that list was. So this is
• 47:52
  Speaker 2: what I wanted to explain to you guys. You have
• 47:55
  Speaker 2: to do your homework, you have to do your due diligence.
• 47:58
  Speaker 2: And this is why I want to take you to
• 47:59
  Speaker 2: the webstite versus me just having this on my PowerPoint
• 48:03
  Speaker 2: because I want you guys to be able to find
• 48:06
  Speaker 2: this stuff on your own. All right. So again, the
• 48:10
  Speaker 2: website is hud dot gov forward slash Buying, forward slash
• 48:17
  Speaker 2: local Buying. Okay, there you have it, and mothershad voice,
• 48:25
  Speaker 2: let's get the conventional financing we're heating up now. Six
• 48:29
  Speaker 2: to twenty minimum credit score, minimum down payment, three to
• 48:32
  Speaker 2: fifteen percent, depending on what type of property you're buying,
• 48:35
  Speaker 2: whether it's a one family or multifamily who max Sell's
• 48:39
  Speaker 2: concession allowed is three percent. You can buy one to
• 48:41
  Speaker 2: four family and fanymake approved condos and co ops and
• 48:46
  Speaker 2: input coops up there with co ops as well. Max
• 48:49
  Speaker 2: loan amount is based on Fandymade loan limits. Again, all
• 48:53
  Speaker 2: you have to do is google Fany Maade twenty twenty
• 48:56
  Speaker 2: two loan limits and you will have all the information
• 49:00
  Speaker 2: you need right there. Grants gifts and for one K
• 49:04
  Speaker 2: is allowed, you have to live in the property for
• 49:07
  Speaker 2: one year if it is your primary residence. Also, now
• 49:13
  Speaker 2: we're going to take you back to another website. Now,
• 49:16
  Speaker 2: before we get there, let's talk about the Fanny Man
• 49:18
  Speaker 2: Freddie Mac's student loan guidelines. It's pretty much the same thing,
• 49:22
  Speaker 2: but I like freddie guidelines better. So, if you are
• 49:26
  Speaker 2: going conventional and it's student loans, listening on a credit
• 49:31
  Speaker 2: report is zero or if it's deferred or forbearance, the
• 49:36
  Speaker 2: lender is going to use the one percent balance to
• 49:41
  Speaker 2: calculate it. So if you have that situation, you probably
• 49:44
  Speaker 2: don't want to go Fannie May. You want to go
• 49:46
  Speaker 2: Freddie Mac because Freddie Mac is like Faha, where they'll
• 49:50
  Speaker 2: use a half a percent of the loan balance to qualify.
• 49:53
  Speaker 2: So the examples that I give you guys early on
• 49:56
  Speaker 2: how to calculate is the same exact for both Fannie
• 49:59
  Speaker 2: Mae and Freddie Mac. But if you're going conventional with
• 50:03
  Speaker 2: student loans, your best bet is to act the lender
• 50:08
  Speaker 2: or tell the lender not even ask, because you're the boss.
• 50:11
  Speaker 2: You tell the lender you need to have a Freddie
• 50:14
  Speaker 2: Mac backed conventional mortgage because of yours through the loans. Okay,
• 50:20
  Speaker 2: and yes, for those on YouTube, will keep acting. Will
• 50:23
  Speaker 2: this be saved on the channel? Yes it will. This
• 50:26
  Speaker 2: is free game University right now. You're welcome. All right.
• 50:32
  Speaker 2: Two of my favorite programs with Fannie Mae and Freddie
• 50:35
  Speaker 2: Mac is Fanny Made Home Style and Freddie Mac Home Possible.
• 50:40
  Speaker 2: Let's go to the websites. Let's go to home Ready first.
• 50:44
  Speaker 2: So all you gotta do is Google Fannie May Home Ready.
• 50:48
  Speaker 2: Go to Google, and all you will see the websites
• 50:52
  Speaker 2: will come to the top now and bring you to
• 50:55
  Speaker 2: this website on purpose, because it's very important that you
• 50:59
  Speaker 2: understand in these programs and what these websites look like, right,
• 51:05
  Speaker 2: because these websites, these websites are very, very very important
• 51:09
  Speaker 2: for you to navigate. You have all the information that
• 51:13
  Speaker 2: you will need, all these websites right here alone. So
• 51:17
  Speaker 2: I'm gonna get you guys a little bit familiar with
• 51:19
  Speaker 2: this now when you're dealing with Freddie mac all Fanny
• 51:24
  Speaker 2: Made Home Possible. This is all income based, all right,
• 51:30
  Speaker 2: so what I mean by it? And this is the
• 51:32
  Speaker 2: home Possible website, right, Just get you guys a little
• 51:38
  Speaker 2: bit familiar on how it looks. But let me go
• 51:41
  Speaker 2: back here, right, So let me google something. So let
• 51:43
  Speaker 2: me go Fanny May uh, Fanny May May income limits right,
• 51:55
  Speaker 2: Fanny May Home Possible Home Ready income limits right. So
• 52:03
  Speaker 2: this medium income is very important. So if you're looking
• 52:09
  Speaker 2: to get qualified for this home I mean, for this program,
• 52:14
  Speaker 2: you have to let me just hit this. You can't
• 52:17
  Speaker 2: make more than eighty percent of the area medium income,
• 52:23
  Speaker 2: all right. So again, how I got to this is
• 52:26
  Speaker 2: all the thing I did was google Fannie May Home
• 52:29
  Speaker 2: Ready income tool and this map will show up. Now
• 52:35
  Speaker 2: I'm a punch in the zip code. I am in
• 52:38
  Speaker 2: valid stream right now, so I'm going to type in
• 52:40
  Speaker 2: valid stream zip cold and now you're going to see
• 52:44
  Speaker 2: it's going to come here and it's going to bring
• 52:46
  Speaker 2: the map of valid stream. Now it's telling me the
• 52:49
  Speaker 2: area medium income in my area where I'm at right
• 52:51
  Speaker 2: now is ninety nine thousand. But in order to qualify
• 52:56
  Speaker 2: for this loan, my income cannot exceed seventy nine thousand,
• 53:02
  Speaker 2: six hundred. All right, so that's eighty percent of that
• 53:06
  Speaker 2: ninety nine thousand. You can do this for anywhere in
• 53:11
  Speaker 2: the country to see what's your income. What's what's west
• 53:16
  Speaker 2: Chester zip Co? Y'all?
• 53:20
  Speaker 4: One zero six zero three, All.
• 53:23
  Speaker 2: Right, let's do one zero You said one zero six
• 53:27
  Speaker 2: zero three, Yeah, one zero six zero three. Why that's
• 53:32
  Speaker 2: not coming up?
• 53:33
  Speaker 4: So don't do this like that.
• 53:37
  Speaker 2: One O six oh three. Damn that shit ain't coming up.
• 53:42
  Speaker 4: One O six oh six oh yeah seven one of.
• 53:47
  Speaker 2: Them, damn and ain't liking y'all.
• 53:50
  Speaker 4: That's the city that's probably well.
• 53:52
  Speaker 2: Nah, this is everywhere, all right. Let me type in
• 53:56
  Speaker 2: four two two. Let me just do Jamaica shout out
• 53:59
  Speaker 2: the queens, Queens get the money, Jamaican, New York. Okay,
• 54:07
  Speaker 2: it works better with an address, y'all. But I'm just
• 54:09
  Speaker 2: trying to give you an idea. So Jamaica or they
• 54:12
  Speaker 2: pulled up Southside, but it's all good. So we got
• 54:15
  Speaker 2: ninety nine five hundred, eighty percent is still seventy nine
• 54:19
  Speaker 2: to six hundred, So you guys, see how simple this is.
• 54:22
  Speaker 2: This is this is the gross income that the lender
• 54:26
  Speaker 2: is using, not your justic gross We're not looking at
• 54:28
  Speaker 2: the tax returns. This is your gross income, not your
• 54:31
  Speaker 2: net income. The only way is going to go for
• 54:33
  Speaker 2: net income is if you're self employed and you're trying
• 54:36
  Speaker 2: to get one of these loans. But this is the
• 54:37
  Speaker 2: first step that you need to go to see if
• 54:39
  Speaker 2: you even qualify for the Home Possible or Home Ready
• 54:43
  Speaker 2: program because they both go off the same thing. So
• 54:46
  Speaker 2: I want to show you, guys what this looked like
• 54:48
  Speaker 2: in real time, so you are familiar with this. And
• 54:52
  Speaker 2: this works best if you have an address. So if
• 54:56
  Speaker 2: you're looking for properties and you're already preapproved, just punching
• 54:59
  Speaker 2: any address in your right.
• 55:02
  Speaker 5: Average average income in South Jamaica, Queens is ninety nine thousand.
• 55:06
  Speaker 2: Dollars according to the government. The area medium income in
• 55:09
  Speaker 2: the area is ninety nine thousand, five hundred correct.
• 55:14
  Speaker 3: That's interesting, very.
• 55:18
  Speaker 2: And these houses probably a million dollars go figure. So
• 55:25
  Speaker 2: that's the website that you got to go to to
• 55:27
  Speaker 2: see if you qualify and if you qualify, it's a
• 55:30
  Speaker 2: great program, both of them. With Freddie Mack, which I
• 55:35
  Speaker 2: loved more than the Home Ready is with Freddie Mack,
• 55:39
  Speaker 2: you can put down as little as three to five
• 55:41
  Speaker 2: percent with buying a two to four family property, which
• 55:45
  Speaker 2: with conventional products, if you don't qualify for these programs,
• 55:48
  Speaker 2: you'll have to put down fifteen to twenty percent. So
• 55:51
  Speaker 2: I love the Home Possible program for that, and then
• 55:55
  Speaker 2: also with the Fani Made Home Ready program, one of
• 55:59
  Speaker 2: the things that I love is that they will allow
• 56:02
  Speaker 2: you to use border income or or roommate income to
• 56:08
  Speaker 2: help you qualify even if you're buying a one family property.
• 56:11
  Speaker 2: So if you're buying a one family let's just say
• 56:14
  Speaker 2: you was in college you had a roommate, you can
• 56:16
  Speaker 2: document that you had a roommate and the roommate is
• 56:19
  Speaker 2: going to move in with you right then you can
• 56:25
  Speaker 2: have a quote unquote lease sign between you and that
• 56:28
  Speaker 2: roommate and if they.
• 56:29
  Speaker 11: Are This episode is brought to you by P and
• 56:33
  Speaker 11: C Bank. A lot of people think podcasts about work
• 56:36
  Speaker 11: are boring, and sure they definitely can be, but understanding
• 56:40
  Speaker 11: a professional's routine shows us how they achieve their success
• 56:43
  Speaker 11: little by little, day after day. It's like banking with
• 56:47
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• 59:19
  Speaker 2: You need making paying let's say five hundred dollars a month.
• 59:22
  Speaker 2: We can use seventy five percent of that five hundred
• 59:25
  Speaker 2: to help you qualify. Now, a lot of you got roommates,
• 59:27
  Speaker 2: and you don't know, right if you are unmarried and
• 59:32
  Speaker 2: you have a boyfriend or a girlfriend and y'all live together,
• 59:35
  Speaker 2: y'all have roommates. Read between the lines, back to the presentation.
• 59:46
  Speaker 2: So that's the family made Freddie macmestyle. I hope you'll
• 59:48
  Speaker 2: caught that little jim moving right along. Closing course. Let's
• 59:53
  Speaker 2: talk about some closing course. All right, you know what.
• 1:00:00
  Speaker 2: This is what I'm gonna do. Let's go back to
• 1:00:02
  Speaker 2: Let's go back to this. Let me show y'all what
• 1:00:07
  Speaker 2: a loan estimate looks like. Okay, this is what. Yeah,
• 1:00:13
  Speaker 2: some of y'all YouTube got it. Roommates exactly, all right,
• 1:00:17
  Speaker 2: So this is what This is a sample loan estimate.
• 1:00:21
  Speaker 2: This is what you're gonna get from Alenda. Some will
• 1:00:24
  Speaker 2: get you this before you even sign a contract on
• 1:00:27
  Speaker 2: the house. I know, me and my team we issue
• 1:00:29
  Speaker 2: loan estimates only when you have a contract. If you want,
• 1:00:35
  Speaker 2: of course breakdown, we'll give you what's called the closing
• 1:00:38
  Speaker 2: course worksheet, which is not a loan estimate, but it
• 1:00:41
  Speaker 2: gives you an idea of what the fees are. So
• 1:00:44
  Speaker 2: I want to show this to you so you guys
• 1:00:46
  Speaker 2: can get familiar of what you're looking at. Right, So
• 1:00:50
  Speaker 2: on the top left hand side, you're going to have
• 1:00:52
  Speaker 2: whoever the bank is, the bank's address is going to
• 1:00:54
  Speaker 2: show you the date that the loan estimate was issued.
• 1:00:57
  Speaker 2: The applicants is you with the property address is the
• 1:01:00
  Speaker 2: estimated property value. It'll tell you what your loan terms are,
• 1:01:05
  Speaker 2: the purpose of it, what type of product you have.
• 1:01:08
  Speaker 2: So if it's a thirty yet fixed mortgage, it'll tell
• 1:01:10
  Speaker 2: you that it was a thirty year fixed mortgage. If
• 1:01:13
  Speaker 2: it's a FHA conventional VA, one of these boxes right
• 1:01:16
  Speaker 2: here will be checked. It'll tell you your loan number, your
• 1:01:19
  Speaker 2: loan ID, and most importantly is the rate locked or not? Okay?
• 1:01:24
  Speaker 2: And if it is locked, as you can see here
• 1:01:26
  Speaker 2: on this example, it tells you until what time that
• 1:01:29
  Speaker 2: it is locked? Okay? Scrolling down, you have your loan terms,
• 1:01:34
  Speaker 2: your loan themount, your interest rate, your monthly principal and
• 1:01:37
  Speaker 2: interest payment. The principal interest is what you're paying back
• 1:01:40
  Speaker 2: to the bank. It'll tell you if you have a
• 1:01:42
  Speaker 2: pre payment penalty you or not, if it's a balloon
• 1:01:44
  Speaker 2: payment or not. You're not going to see this in
• 1:01:46
  Speaker 2: regular traditional loans, so don't worry about that right now.
• 1:01:49
  Speaker 2: If you have mortgage insurance, you'll see it right here
• 1:01:54
  Speaker 2: on your payment projected payments. It'll tell you if it's
• 1:01:57
  Speaker 2: mortgage insurance, and if it was, there'll be a number
• 1:02:01
  Speaker 2: listed right here with says zero, and then in this
• 1:02:03
  Speaker 2: column right here, it will tell you what year is
• 1:02:05
  Speaker 2: projected to fall off. Very important if you're taking out
• 1:02:08
  Speaker 2: loans with mortgage insurance that you are paying attention to
• 1:02:14
  Speaker 2: this right Your escrow is to manage your property taxes
• 1:02:20
  Speaker 2: and the homeowner's insurance ESCRO. Let me say this, and
• 1:02:23
  Speaker 2: I'm gonna say this loud and clear for everybody who
• 1:02:26
  Speaker 2: is listening. ESCRO is subject to change on an annual basis.
• 1:02:29
  Speaker 2: So whatever mortgage payment that you gotta start off with today,
• 1:02:33
  Speaker 2: that will not be your mortgage payment in a year
• 1:02:36
  Speaker 2: because taxes will go up, homeowner's insurance will go up,
• 1:02:41
  Speaker 2: and that means your mortgage payment is going to go up.
• 1:02:44
  Speaker 2: So although you have a thirty year fixed mortgage, the
• 1:02:47
  Speaker 2: only thing that is fixed is that principal and interest payment.
• 1:02:51
  Speaker 2: Your escro is subject to change. Now here's a tip.
• 1:02:55
  Speaker 2: Every single year, you're gonna get what's called the escrow analysis.
• 1:02:58
  Speaker 2: The bank is going to send it to you. Please
• 1:03:01
  Speaker 2: read it. Learn to understand that, because that is telling
• 1:03:04
  Speaker 2: you exactly what's happening in that escrow account. Depending on
• 1:03:09
  Speaker 2: when your taxes are doing where you live, some taxes,
• 1:03:11
  Speaker 2: some property taxes are due quarterly, some are done semi annually,
• 1:03:15
  Speaker 2: some are done angrily. The town is going to send
• 1:03:19
  Speaker 2: you a tax bill. Although the bank is responsible for
• 1:03:23
  Speaker 2: paying it, the town still has to send you with
• 1:03:25
  Speaker 2: the bill is for the upcoming year. When you see
• 1:03:28
  Speaker 2: your bill, if you do not agree with it, you
• 1:03:31
  Speaker 2: can't call the town and start a process called grieving
• 1:03:34
  Speaker 2: your taxes a grievance okay, which can potentially lower your
• 1:03:38
  Speaker 2: property taxes down. But that is a process and it's
• 1:03:42
  Speaker 2: not guaranteed to lower your property taxes. But I just
• 1:03:45
  Speaker 2: want to make you guys aware of what is out
• 1:03:48
  Speaker 2: there for you. And I want you guys to be
• 1:03:50
  Speaker 2: aware that your mortgage payment will increase. So when you
• 1:03:54
  Speaker 2: hear me screaming to the top of my lungs like
• 1:03:56
  Speaker 2: I've been for the past four years on the internet,
• 1:03:58
  Speaker 2: don't be house rich and cash poor. This is one
• 1:04:01
  Speaker 2: of the prime examples, because you be thinking, you're paying
• 1:04:04
  Speaker 2: me three hundred and eighty dollars, gonna be for the
• 1:04:06
  Speaker 2: life of your loan, and you'll get a root awaken.
• 1:04:08
  Speaker 2: In one month, You're gonna open up your your damn
• 1:04:11
  Speaker 2: mortgage statement and your payment's gonna be five hundred dollars
• 1:04:14
  Speaker 2: and you're gonna be like, what the hell happened? So
• 1:04:16
  Speaker 2: I want you guys to be aware of this. Be
• 1:04:20
  Speaker 2: aware of this, all right? Scroll down. Estimated taxes and
• 1:04:24
  Speaker 2: insurance a month. Again, this is subject to change. Estimated
• 1:04:31
  Speaker 2: closing course plus estimated cash to close. This is basically
• 1:04:35
  Speaker 2: and you see it says from the borrower. That means
• 1:04:38
  Speaker 2: what you have to bring the closing. Now, when you
• 1:04:41
  Speaker 2: guys are shopping for a mortgage, I want you guys
• 1:04:43
  Speaker 2: to be very clear on something else. The lender only
• 1:04:49
  Speaker 2: controls two things, the interest rate and block A on
• 1:04:56
  Speaker 2: its top left hand side, the origination charges. We do
• 1:05:00
  Speaker 2: not control title fees. We do not control recording fees.
• 1:05:04
  Speaker 2: We do not control how much escrow needs to be
• 1:05:08
  Speaker 2: set up in that prepaid account or that initial escrow account.
• 1:05:12
  Speaker 2: We do not control any of these fees. We only
• 1:05:16
  Speaker 2: control the interest rate and the origination fees. So when
• 1:05:20
  Speaker 2: you guys are shopping for a loan, you have to understand.
• 1:05:27
  Speaker 2: Banks will sit here and present you offers in the
• 1:05:30
  Speaker 2: beginning of your process and low ball you on purpose.
• 1:05:34
  Speaker 2: They will missfees on these loan estimates because it's not
• 1:05:37
  Speaker 2: legally binding, right, It's just an estimate. They will tell you,
• 1:05:44
  Speaker 2: and when they try, when you're trying to compare, you're
• 1:05:47
  Speaker 2: looking at, well, this lender's rate is this and their
• 1:05:50
  Speaker 2: fees a twenty thousand. But this lenders rate is the same,
• 1:05:53
  Speaker 2: but their fees a fifteen thousand. I'm going with this lender.
• 1:05:57
  Speaker 2: But you don't realize that you're getting set up for
• 1:05:59
  Speaker 2: the bag and switch because a lot of lenders out
• 1:06:03
  Speaker 2: there will put lower fees on purpose. I'm trying to
• 1:06:08
  Speaker 2: tell you this shit happens every single day. I don't
• 1:06:10
  Speaker 2: care when no one tells me because I see it personally.
• 1:06:12
  Speaker 2: When you guys are reaching out to me, asks me
• 1:06:14
  Speaker 2: to you, your loan estimates. And I'm telling you there's
• 1:06:16
  Speaker 2: a lot of fees missing here, all right, So please
• 1:06:19
  Speaker 2: understand that the lender only controls this. So my advice
• 1:06:24
  Speaker 2: to you if you're shopping or comparing lenders, compare them
• 1:06:27
  Speaker 2: with the interest rate and block a fees. That is
• 1:06:31
  Speaker 2: going to give your true determination if with lender is
• 1:06:35
  Speaker 2: more expensive than the others, because that's the fees that
• 1:06:38
  Speaker 2: they're making their money off of, not everything else. Now,
• 1:06:41
  Speaker 2: if you want to know what your title fees and
• 1:06:43
  Speaker 2: your recording fees are, this is when you got to
• 1:06:46
  Speaker 2: go to your title company. If your realtor or your
• 1:06:49
  Speaker 2: attorney is using a particular title company, you need to
• 1:06:52
  Speaker 2: ask them for what's called a title bill. And in
• 1:06:55
  Speaker 2: that title bill, you'll know what all the title fees are.
• 1:06:59
  Speaker 2: You'll know what the recording fees are. You'll know what
• 1:07:03
  Speaker 2: the estimated escrow account will be needed to set up
• 1:07:06
  Speaker 2: based off of the closing date on the contract. You'll
• 1:07:09
  Speaker 2: know all that information because us as the lender. When
• 1:07:13
  Speaker 2: we get to the end of the process. You see
• 1:07:15
  Speaker 2: how this says loan estimate, right, This is in the
• 1:07:18
  Speaker 2: beginning of the process. When you get to the end
• 1:07:20
  Speaker 2: of the process, you're going to get what's called a CD,
• 1:07:23
  Speaker 2: a closing disclosure, and the lender to update that closing disclosure,
• 1:07:29
  Speaker 2: they have to get all the final bills from the
• 1:07:31
  Speaker 2: title company and all other parties involved. That way they
• 1:07:35
  Speaker 2: can update that closing disclosure to make it as accurate
• 1:07:38
  Speaker 2: as possible. So please understand the difference in this. Don't
• 1:07:45
  Speaker 2: just be willy nilly an emotional home buyer and say, oh,
• 1:07:48
  Speaker 2: this one's cheaper than this one, and this is that
• 1:07:50
  Speaker 2: third and you're not even understanding by time you get
• 1:07:53
  Speaker 2: to the end. It's going to be with that person
• 1:07:54
  Speaker 2: who was hired probably even quoted you because they were
• 1:07:56
  Speaker 2: probably doing the right thing. So it just understand the difference.
• 1:07:59
  Speaker 2: And this is kind of why instead of me showing
• 1:08:02
  Speaker 2: you a PowerPoint presentation, I kind of wanted to give
• 1:08:05
  Speaker 2: you an example, a real life example of what this
• 1:08:08
  Speaker 2: looked like, because a lot of you have never seen
• 1:08:10
  Speaker 2: a loan estimate before. I see people in the YouTube
• 1:08:12
  Speaker 2: comments talking about they never even heard a BLOCKA. This
• 1:08:15
  Speaker 2: is exactly why I want to show my screen and
• 1:08:18
  Speaker 2: show this to you guys, so you have a better
• 1:08:21
  Speaker 2: understanding of what these things look like. All right, we
• 1:08:26
  Speaker 2: got it.
• 1:08:26
  Speaker 3: Y'all.
• 1:08:27
  Speaker 2: Okay, good, who all right, back to the slides and
• 1:08:33
  Speaker 2: we're almost done. So that's the closing cost section underwriting process. Now,
• 1:08:40
  Speaker 2: after you go through your pre approval, your shopping for
• 1:08:43
  Speaker 2: your home, you're ready to go. You're going to now
• 1:08:48
  Speaker 2: update your loan officer he or she and let them
• 1:08:51
  Speaker 2: know that you have a contract. And then that's when
• 1:08:56
  Speaker 2: you're going to get your initial disclosures. And as a
• 1:09:00
  Speaker 2: part of that initial disclosure package will be that loan
• 1:09:03
  Speaker 2: estimate that I just showed you. Again, look at the
• 1:09:07
  Speaker 2: loan estimate at this point, if you're still shopping for London,
• 1:09:10
  Speaker 2: and I'm gonna tell you this right now, at this point,
• 1:09:12
  Speaker 2: if you're still shopping for London when you get the contract,
• 1:09:14
  Speaker 2: you kind of behind the eight ball because I think
• 1:09:16
  Speaker 2: you should have did you shopping while he was in
• 1:09:17
  Speaker 2: the pre approval process. But if you're still shopping again,
• 1:09:21
  Speaker 2: remember block A and interest rate. That's what you need
• 1:09:25
  Speaker 2: to pay attention to. Okay, now, let's keep your interest
• 1:09:31
  Speaker 2: rates real quick. Locking in very important in these times.
• 1:09:39
  Speaker 2: As you all have seen over the past six months,
• 1:09:43
  Speaker 2: I should say that the market has been going absolutely
• 1:09:48
  Speaker 2: bonkers with interest rates. This is not the time to
• 1:09:53
  Speaker 2: float interest rates. So there's two things you can do
• 1:09:57
  Speaker 2: when you get your contract. You can either lock it
• 1:10:01
  Speaker 2: in and when we lock in, we lock in for
• 1:10:04
  Speaker 2: a certain period of time, y'all. We lock in either
• 1:10:06
  Speaker 2: for thirty days, forty five days, sixty days, ninety days
• 1:10:11
  Speaker 2: up to six months, right. Or you can float, which
• 1:10:14
  Speaker 2: means floating means you're playing the market. I do not
• 1:10:19
  Speaker 2: recommend floating in today's market because it moves so rapidly.
• 1:10:26
  Speaker 2: If you want to try to protect yourself, let's just
• 1:10:29
  Speaker 2: say you lock in and you want to head your
• 1:10:33
  Speaker 2: bet so to speak. If the market does drop, act
• 1:10:37
  Speaker 2: your lender if they have a float down policy, type
• 1:10:43
  Speaker 2: in chat float down okay, float down policy very important.
• 1:10:49
  Speaker 2: So let me give you an example.
• 1:10:51
  Speaker 10: You are.
• 1:10:54
  Speaker 2: Locking in today at five and a half percent. Okay,
• 1:10:58
  Speaker 2: you're locking in at five five and a half percent.
• 1:11:01
  Speaker 2: But your loan officer, after you consulting with them and
• 1:11:05
  Speaker 2: you say, you know what, we think the rates might
• 1:11:06
  Speaker 2: drop a half a point in your favor. It may
• 1:11:09
  Speaker 2: drop the four point eighty seventy five to five percent
• 1:11:11
  Speaker 2: in like two weeks. While we're doing the process based
• 1:11:15
  Speaker 2: off of what's happening in the market.
• 1:11:17
  Speaker 4: So.
• 1:11:19
  Speaker 2: We can lock you in with the float down option.
• 1:11:22
  Speaker 2: It may now a lender's gonna charge you for this.
• 1:11:25
  Speaker 2: So what this means is if the rate does drop
• 1:11:29
  Speaker 2: that at least a quarter to three eighths of a
• 1:11:33
  Speaker 2: point lower, then the loan officer can float down the
• 1:11:36
  Speaker 2: rate and take advantage of the market decreasing and break
• 1:11:42
  Speaker 2: you from that five and a half to that five
• 1:11:44
  Speaker 2: and a quarter to that five point one to the
• 1:11:47
  Speaker 2: five percent. But they may charge you a point for that. Now,
• 1:11:51
  Speaker 2: for those of you who don't know what a point is,
• 1:11:54
  Speaker 2: a point is one percent of the loan amount and
• 1:11:58
  Speaker 2: it's used to buy down interest rate. So one hundred
• 1:12:02
  Speaker 2: thousand dollars loan amount times one point equals one thousand dollars.
• 1:12:08
  Speaker 2: All right, So I want you guys to understand when
• 1:12:11
  Speaker 2: you are trying to lock in, if your lender has
• 1:12:14
  Speaker 2: that option, take advantage of it. It may cost you
• 1:12:18
  Speaker 2: some money. Now, what happens if the rates don't decrease,
• 1:12:22
  Speaker 2: then you just paid a point for no reason. So
• 1:12:25
  Speaker 2: you also got to understand the market and work with
• 1:12:28
  Speaker 2: the loan officer who understands the market and is watching
• 1:12:32
  Speaker 2: the trends that's happening. In the market to determine if
• 1:12:35
  Speaker 2: it's even worth you paying that extra point to do
• 1:12:40
  Speaker 2: the float down option. All right, but speak to your
• 1:12:45
  Speaker 2: loan officer for more details about this.
• 1:12:51
  Speaker 4: Who.
• 1:12:51
  Speaker 2: So, now you're locking your rate. You go to underwriting,
• 1:12:56
  Speaker 2: you get your loan reapproved by underwriting. They're going to
• 1:12:59
  Speaker 2: have us called condition you meet those conditions. It could
• 1:13:04
  Speaker 2: be updated pay stuffs, updated bank statements. It could be
• 1:13:07
  Speaker 2: letters of explanations, it could be whatever the hell the
• 1:13:10
  Speaker 2: underwriter wants to see to satisfy the commitment letter. Once
• 1:13:16
  Speaker 2: you meet those plus, you get your clean tider report,
• 1:13:19
  Speaker 2: you get an appraiser report, It gets submitted back to underwriting,
• 1:13:23
  Speaker 2: and then boom. From there, they submit the loan for
• 1:13:27
  Speaker 2: clearance to close, and in the perfect world, the underwriter
• 1:13:30
  Speaker 2: will clear everything and then congratulations, you can now schedule
• 1:13:34
  Speaker 2: your closing. But the mortgage process is not perfect. I'm
• 1:13:37
  Speaker 2: here to tell you you will go through pain, you
• 1:13:39
  Speaker 2: will go through agony, you will go through frustration, you
• 1:13:43
  Speaker 2: will go through some BS. Okay, so have your expectations
• 1:13:48
  Speaker 2: set properly that you are gonna go through some pain
• 1:13:51
  Speaker 2: in some BS. Even if you went through a pre
• 1:13:53
  Speaker 2: underwriting process, you will still go through the pain and
• 1:13:56
  Speaker 2: the bs. This is just this is just the business
• 1:14:00
  Speaker 2: that we are in and it's not perfect. But you
• 1:14:03
  Speaker 2: have to have your expectations set right. So once you
• 1:14:07
  Speaker 2: wants to underwriter, and oh, be prepared to be asked
• 1:14:10
  Speaker 2: for documents, the same documents a couple times. This happens
• 1:14:15
  Speaker 2: with certain lenders. Not gonna name no names, but this happens. Okay,
• 1:14:21
  Speaker 2: I need you to understand this is part of the
• 1:14:23
  Speaker 2: process and it will frustrate the hell out of you,
• 1:14:26
  Speaker 2: rightfully so, but just give them whatever the hell they
• 1:14:29
  Speaker 2: want and let's move on, all right. And once you
• 1:14:34
  Speaker 2: go through the underwriting process you meet all your conditions. Congratulations,
• 1:14:37
  Speaker 2: you are now clear to close and you can go
• 1:14:41
  Speaker 2: close wing your house. That is my time for today,
• 1:14:45
  Speaker 2: ladies and gentlemen. That's all I got.
• 1:14:49
  Speaker 3: There. You have it better than college university.
• 1:14:54
  Speaker 6: Give them what they want, man, just be patient, tell
• 1:14:56
  Speaker 6: them many.
• 1:14:58
  Speaker 2: Give them what they want. That's right.
• 1:15:02
  Speaker 3: Oh my goodness, that's like put some fire in the chat.
• 1:15:06
  Speaker 5: If you enjoyed that high level conversation. As my brother
• 1:15:10
  Speaker 5: nineteen keys would say, you know, that's what it's about.
• 1:15:14
  Speaker 10: Man.
• 1:15:15
  Speaker 5: Not getting that kind of education anywhere, Definitely not at school.
• 1:15:19
  Speaker 5: And that's one of the things I always talked about, like,
• 1:15:21
  Speaker 5: buying a home is probably the biggest purpose that anybody's
• 1:15:25
  Speaker 5: going to make, and for most people, that's their biggest investment.
• 1:15:29
  Speaker 5: A lot of people, unfortunately, that's their only investment. And
• 1:15:31
  Speaker 5: if you think about it, for the biggest purchase, the
• 1:15:34
  Speaker 5: most important purchase, and something that most of your net
• 1:15:39
  Speaker 5: worth is in. For the average American, you have no
• 1:15:42
  Speaker 5: education on it, Like they never teach you anything. It's
• 1:15:44
  Speaker 5: like you just go out there and just hope that
• 1:15:47
  Speaker 5: you're not getting taken advantage of. But you just go
• 1:15:50
  Speaker 5: to a bank and you say, Okay, I'm trying to
• 1:15:52
  Speaker 5: buy a home, and you just follow whatever they tell you.
• 1:15:55
  Speaker 5: You don't know if it's the best thing for you
• 1:15:57
  Speaker 5: or not. You don't know about the program. If you
• 1:15:58
  Speaker 5: don't know the process, you make mistakes. You don't have
• 1:16:02
  Speaker 5: to get the documents in order, you don't get the mortgage,
• 1:16:06
  Speaker 5: lose a home. It's a learning process and you learn
• 1:16:10
  Speaker 5: as you go, but you can make a lot of mistakes.
• 1:16:12
  Speaker 5: So I always thought like, why would they not have
• 1:16:15
  Speaker 5: this as part of a core curriculum because it's something
• 1:16:18
  Speaker 5: that is very common. A lot of people buy homes
• 1:16:22
  Speaker 5: and to not have any idea of how to do it,
• 1:16:26
  Speaker 5: it just doesn't make any sense. So there's something that
• 1:16:29
  Speaker 5: we never even questioned because we just were so used
• 1:16:31
  Speaker 5: to just not even having it that it's just like,
• 1:16:34
  Speaker 5: all right, you know, just just go with the flow.
• 1:16:36
  Speaker 5: But now we have institutions like Eyo University, and we
• 1:16:42
  Speaker 5: have professionals like Matt who are very gracious with their
• 1:16:46
  Speaker 5: time and they're educating the masses. So not take it
• 1:16:50
  Speaker 5: for granted, because it's not something that has ever really
• 1:16:53
  Speaker 5: happened before in a language that most people, especially in
• 1:16:56
  Speaker 5: our world, understood, So just wanted.
• 1:16:59
  Speaker 3: To give kudos to Matt. Definitely, you know, a legend.
• 1:17:04
  Speaker 5: In the game when it comes to real estate, financing,
• 1:17:09
  Speaker 5: home lending.
• 1:17:10
  Speaker 3: Very very important, very very important.
• 1:17:15
  Speaker 6: Yeah, I mean, I mean, he's the guy we call
• 1:17:17
  Speaker 6: him for sure and with any question, right, And that's
• 1:17:20
  Speaker 6: the thing too, being humble enough to know that you
• 1:17:22
  Speaker 6: don't know everything, but having a resource that's almost like
• 1:17:26
  Speaker 6: an encyclopedia at your disposal it makes everything a lot better.
• 1:17:31
  Speaker 6: So I'm personally going through the process, and so every
• 1:17:34
  Speaker 6: time I get a letter, the first guy I call
• 1:17:36
  Speaker 6: it is Matt.
• 1:17:36
  Speaker 4: To make sure everything's right. But everybody doesn't have that,
• 1:17:42
  Speaker 4: and so having this type.
• 1:17:43
  Speaker 6: Of information presented in front of you, you can alleviate
• 1:17:46
  Speaker 6: that fear. A lot of times people get in that
• 1:17:48
  Speaker 6: fear process where they don't want to take action because
• 1:17:51
  Speaker 6: they don't want to make the mistake. But what's been
• 1:17:53
  Speaker 6: laid out for you right here is a detailed version
• 1:17:57
  Speaker 6: of what you need to do in order.
• 1:17:58
  Speaker 4: To get that first property.
• 1:17:59
  Speaker 6: So that I appreciate you for, you know, decreasing that
• 1:18:02
  Speaker 6: level of fear for people to make that first step.
• 1:18:05
  Speaker 2: Yeah, yeah, no doubt, man, That's what we here for.
• 1:18:07
  Speaker 6: Man.
• 1:18:07
  Speaker 2: Each one teach one And like Shaddy said, no one
• 1:18:09
  Speaker 2: taught us this in school. The school curriculum is not
• 1:18:12
  Speaker 2: made for us to know this type of stuff. How
• 1:18:15
  Speaker 2: our parents didn't even teach us how to do this
• 1:18:17
  Speaker 2: because for the most part they didn't really know. Most
• 1:18:19
  Speaker 2: of our parents who purchased homes, they trip and fell
• 1:18:21
  Speaker 2: into home ownership. It wasn't like you know what I'm saying,
• 1:18:24
  Speaker 2: that was taught. So for me to be able to
• 1:18:28
  Speaker 2: be blessed with the knowledge to be able to pass
• 1:18:31
  Speaker 2: it on to my community at scale, because of platforms
• 1:18:35
  Speaker 2: like EYL University. It's life changing for me and I
• 1:18:39
  Speaker 2: don't take it lightly. I love and this is why
• 1:18:41
  Speaker 2: I always save my license number because I'm proud to
• 1:18:43
  Speaker 2: be a licensed real estate professional. I tell people all
• 1:18:46
  Speaker 2: the time, I'm not an internet guy. You just see
• 1:18:48
  Speaker 2: me on the internet. This is what I do every
• 1:18:50
  Speaker 2: single day, this is what my team does. We help
• 1:18:52
  Speaker 2: a lot of people, and I don't brag about it.
• 1:18:54
  Speaker 2: You'll never see me posting closing follows. You'll never see
• 1:18:57
  Speaker 2: me doing boomerangues. Respectfully. I say that respectfully because everybody
• 1:19:02
  Speaker 2: got their own swag and that's cool. But I help.
• 1:19:05
  Speaker 2: Don't get it twisted. MG closes a lot of loans
• 1:19:08
  Speaker 2: and I help a lot of people directly and indirectly.
• 1:19:10
  Speaker 2: I help some of your favorite people that you watch
• 1:19:12
  Speaker 2: all the time. And you'll never hear me chasing no
• 1:19:15
  Speaker 2: clout because I don't do this for clout. I do
• 1:19:18
  Speaker 2: this to help my people at Scale because I am
• 1:19:20
  Speaker 2: a terrible Internet marketer. If I was really an Internet marketer,
• 1:19:24
  Speaker 2: I would fledge your timeline with testimonials and all types
• 1:19:27
  Speaker 2: of ish. But if you've been following me for years,
• 1:19:29
  Speaker 2: you don't see that on my page. You see information
• 1:19:32
  Speaker 2: all day long information, information and information, and I want
• 1:19:38
  Speaker 2: you guys to execute at a high level. I don't
• 1:19:40
  Speaker 2: even ask you guys for business for ninety percent of
• 1:19:43
  Speaker 2: the time, I'm just giving you the information and if
• 1:19:45
  Speaker 2: you work with me and my team, great cherry on top,
• 1:19:48
  Speaker 2: God bless, thank you very much. But I don't do
• 1:19:51
  Speaker 2: this for leads either. I do this because I want
• 1:19:53
  Speaker 2: our people to own some shit. Because our home ownership
• 1:19:56
  Speaker 2: rate is forty two percent in our community and it's
• 1:19:58
  Speaker 2: very important for us to close the wealth gap. Real
• 1:20:01
  Speaker 2: estate is a major component of that. So we have
• 1:20:04
  Speaker 2: to own real estate.
• 1:20:07
  Speaker 3: That's a fact. So we're gonna go into some questions.
• 1:20:09
  Speaker 5: Before we go into questions, somebody said, if MG had
• 1:20:12
  Speaker 5: a book or a pamphlet or something, I would buy it.
• 1:20:14
  Speaker 5: So he actually has even better than that the real
• 1:20:18
  Speaker 5: Estate Encyclopedia.
• 1:20:19
  Speaker 4: Yes, book.
• 1:20:20
  Speaker 2: I was about to pull a book too, but we
• 1:20:24
  Speaker 2: ain't gonna talk about the book though. Let's talk about
• 1:20:26
  Speaker 2: what we're talking about.
• 1:20:27
  Speaker 5: So you got The Home Buyers Blueprint Volume one and
• 1:20:30
  Speaker 5: volume two, over twenty hours of content, So imagine this
• 1:20:35
  Speaker 5: one hour. He got twenty hours of content which literally
• 1:20:38
  Speaker 5: walks you through every single thing. Auzy and then Volume
• 1:20:41
  Speaker 5: two is like the rehab pack where you go over
• 1:20:44
  Speaker 5: two or three k loans everything you know rehab. It's
• 1:20:47
  Speaker 5: literally like step by step blueprint on all things real
• 1:20:52
  Speaker 5: estate and real estate investor. What we did was originally
• 1:20:56
  Speaker 5: that rolled out as a separate and it's still a
• 1:20:58
  Speaker 5: separate if you want that individually, but we packaged it
• 1:21:01
  Speaker 5: together with Eyo University, so anybody that's in Eyo University
• 1:21:05
  Speaker 5: gets access to home buyers Blueprint Volume one and volume
• 1:21:08
  Speaker 5: two as part of Eyo University. And for Eyo University,
• 1:21:12
  Speaker 5: of course, we have monthly financial planning calls with me.
• 1:21:16
  Speaker 5: We have weekly investment classes. Shout out to Chris. We
• 1:21:20
  Speaker 5: have over one hundred archive classes because we do classes
• 1:21:23
  Speaker 5: every single week and we have clubs. So people ask
• 1:21:27
  Speaker 5: all the time, like what's the difference between earn your
• 1:21:29
  Speaker 5: leadia Eyo University. Earn your lesia is like a public school.
• 1:21:32
  Speaker 5: You can learn either way. That's the good thing. It's
• 1:21:34
  Speaker 5: like you can learn either way. Public school is free.
• 1:21:37
  Speaker 5: Eyo University is more hands on. It's a learning experience.
• 1:21:41
  Speaker 5: But we have zoom calls, we answer questions. People actually
• 1:21:45
  Speaker 5: learn from each other. It's a community. It's like you know,
• 1:21:47
  Speaker 5: I actually get to talk do my financial planning thing
• 1:21:50
  Speaker 5: once a month. Troy does the book club Movie Club.
• 1:21:53
  Speaker 5: So I mean it's something that we wanted to take
• 1:21:56
  Speaker 5: the best aspects of school, but you know, at spin
• 1:22:00
  Speaker 5: to it and just make the things that's really applicable
• 1:22:03
  Speaker 5: as opposed to teaching you like, you know, about the
• 1:22:05
  Speaker 5: stars and the moon and all that kind of stuff,
• 1:22:08
  Speaker 5: dissecting frogs and things that that wasn't really necessary. So
• 1:22:12
  Speaker 5: and we did it at a competitive price point that
• 1:22:15
  Speaker 5: I don't think anybody in our industry has ever been
• 1:22:17
  Speaker 5: able to accomplish, to be able to do that at
• 1:22:20
  Speaker 5: And you know, we're in a good vibe right now.
• 1:22:24
  Speaker 5: We gotta invest Fst coming up. MG is gonna be
• 1:22:25
  Speaker 5: at to invest Fest, and you know, it's just it's good.
• 1:22:29
  Speaker 5: It's good times right now. So we decided to just
• 1:22:31
  Speaker 5: do a flash sale, forty eight hour fourth of July
• 1:22:34
  Speaker 5: flash sale. We'll probably run into like Saturday, and we're
• 1:22:38
  Speaker 5: going to do seventy five percent off four ninety nine
• 1:22:40
  Speaker 5: for the whole entire year. And that's the low price
• 1:22:42
  Speaker 5: it's been since Black Friday. It hasn't been that right
• 1:22:45
  Speaker 5: since Black Friday. So literally one hundred hours of videos,
• 1:22:49
  Speaker 5: calls with me every month, home Buyers, Blueprint Voume one,
• 1:22:53
  Speaker 5: Volume two, book Club, Movie Club, access to the Facebook group,
• 1:22:57
  Speaker 5: access to the weekly classes, access to the to the
• 1:23:00
  Speaker 5: weekly investment classes. Five hundred dollars, Like that's almost impossible
• 1:23:05
  Speaker 5: to accomplish, but nothing is impossible at EYL.
• 1:23:09
  Speaker 4: So that's a night out of TGA. Friday is a moment.
• 1:23:11
  Speaker 3: And we ain't that's a fact.
• 1:23:17
  Speaker 5: So, you know, people always complain about stuff not being affordable.
• 1:23:20
  Speaker 5: If you can't afford that, then it's just not the
• 1:23:22
  Speaker 5: right time for you. Right now, you can just stay
• 1:23:24
  Speaker 5: and just watch the podcast, watch YouTube and you get
• 1:23:27
  Speaker 5: a lot of information there. But if you just want
• 1:23:29
  Speaker 5: to you know, a little bit more of a higher education,
• 1:23:32
  Speaker 5: your handheld direct access to us on a certain level, Yeah,
• 1:23:39
  Speaker 5: choices show us forty eight hours Eyo University Flash say
• 1:23:42
  Speaker 5: I'll pin it. I'll pin up the link in YouTube
• 1:23:44
  Speaker 5: and then I'll also put in the description of this video.
• 1:23:47
  Speaker 5: And the best part about these classes that we do
• 1:23:49
  Speaker 5: is that we actually get to answer questions. So this
• 1:23:51
  Speaker 5: is something that you know, once again, you don't do
• 1:23:54
  Speaker 5: that on a podcast where we actually you know, take
• 1:23:56
  Speaker 5: zoom questions and we answer it. So it's just like
• 1:23:58
  Speaker 5: being in a classroom. So that's what we're gonna do.
• 1:24:01
  Speaker 3: Right now. We're gonna answer a few questions before we
• 1:24:03
  Speaker 3: wrap and shout to Renee.
• 1:24:06
  Speaker 4: Renee one of our top earners.
• 1:24:08
  Speaker 6: I see she's putting the entire pamphlet of things.
• 1:24:13
  Speaker 4: Yeah, they always, they always in everything. Shout to all artists.
• 1:24:16
  Speaker 3: Let's try this.
• 1:24:17
  Speaker 4: Let's go lucky three one three were coming to you
• 1:24:19
  Speaker 4: and meet yourself? You better neither. What's going on?
• 1:24:25
  Speaker 5: Can you hear me?
• 1:24:26
  Speaker 4: Yeah? We can hate you purposes.
• 1:24:29
  Speaker 13: How y'all doing the black man?
• 1:24:30
  Speaker 2: What's going on?
• 1:24:32
  Speaker 3: My question? Pretty well? Pretty well?
• 1:24:34
  Speaker 5: Thanks?
• 1:24:35
  Speaker 13: Well, obviously I'm.
• 1:24:36
  Speaker 2: From Detroit and what I've done.
• 1:24:40
  Speaker 13: What though our market appears to be extremely, extremely all
• 1:24:45
  Speaker 13: the price, in my opinion, I am apparently looking for
• 1:24:49
  Speaker 13: a home and it's almost to a point where it's
• 1:24:53
  Speaker 13: like who who are buying these songs? Who honestly can
• 1:24:57
  Speaker 13: afflord them? Because when you talk to other buyers that
• 1:25:01
  Speaker 13: are people that's not of en glomary, everyone is saying
• 1:25:05
  Speaker 13: the same thing. You go look at a house, it's
• 1:25:09
  Speaker 13: already kind of over priced, fifty thousand, and you still
• 1:25:13
  Speaker 13: in a bidding room. What would you do if you
• 1:25:17
  Speaker 13: are in that situation?
• 1:25:21
  Speaker 2: Rent is overpriced too, Pick your poison. That's kind of
• 1:25:30
  Speaker 2: the only thing you can do. Right now. We are
• 1:25:32
  Speaker 2: in inflation every time, So ultimately, right now, I understand
• 1:25:38
  Speaker 2: your concerns, but maybe you need to start looking at home.
• 1:25:41
  Speaker 2: And I'm taking at these homes are turnkey. They're probably
• 1:25:45
  Speaker 2: already renovated, correct, Sam, can you hear me?
• 1:25:54
  Speaker 6: Look you they Oh, yeah, that's that?
• 1:25:58
  Speaker 4: What's that I'm as us?
• 1:26:05
  Speaker 3: Well, let's just say that the turkey.
• 1:26:07
  Speaker 2: So let's just say they turnkey, right then you have
• 1:26:10
  Speaker 2: to find something that's not turnkey. You're here, Yeah, so
• 1:26:14
  Speaker 2: lucky it is those houses fully renovated homes you're looking at.
• 1:26:17
  Speaker 13: No, man, you still have to go in there and
• 1:26:19
  Speaker 13: put sixty to hundred thousand in there to update it
• 1:26:23
  Speaker 13: and make it the way that you will want it.
• 1:26:24
  Speaker 13: Are they livable, Yes, but you would still need maybe
• 1:26:27
  Speaker 13: a roof windows. I mean, you still got to go
• 1:26:31
  Speaker 13: in there and put work into these houses.
• 1:26:32
  Speaker 2: Are how much of these house is worth after your repairs?
• 1:26:38
  Speaker 13: They already overpriced when you buy.
• 1:26:39
  Speaker 2: Any but no, the question is how after So if
• 1:26:43
  Speaker 2: you buy it at whatever price and you put in
• 1:26:46
  Speaker 2: fifty to one hundred K, how much is the house
• 1:26:48
  Speaker 2: gonna be worth?
• 1:26:52
  Speaker 13: That part? I'm not sure tomorrow what of the peers?
• 1:26:55
  Speaker 13: Before you put the sixty to one hundred and into it,
• 1:26:59
  Speaker 13: you are already buying a house with no equity. There's
• 1:27:03
  Speaker 13: nothing left, there's no more room left.
• 1:27:06
  Speaker 2: So if you have no equity, then obviously that's not
• 1:27:09
  Speaker 2: worth it for you to go into a home. And
• 1:27:12
  Speaker 2: then you got to still put that amount of money
• 1:27:15
  Speaker 2: and you're going to be upside down. So I would
• 1:27:18
  Speaker 2: probably say then you have to probably look in different
• 1:27:20
  Speaker 2: areas to whereas you're not you're not in that same
• 1:27:23
  Speaker 2: position because that's just that's just not a good deal
• 1:27:26
  Speaker 2: and there's nothing you can do about that. So you
• 1:27:28
  Speaker 2: don't want to pull a trigger or anything like that.
• 1:27:30
  Speaker 2: You just got to find homes where if you are
• 1:27:32
  Speaker 2: going to put that money, that your active innovative value
• 1:27:35
  Speaker 2: is going to be greater than what you put into it.
• 1:27:37
  Speaker 2: So that way you're walking into in there with some
• 1:27:39
  Speaker 2: equity and you're forcing that appreciation.
• 1:27:44
  Speaker 13: All right, Well, God be patient, Thank you.
• 1:27:48
  Speaker 2: Much, appreciate, appreciate you, bro.
• 1:27:51
  Speaker 4: Let's try this. Let's go to Jessica d Jessica d
• 1:27:54
  Speaker 4: we come to you on mute yourself. You've been unmuted.
• 1:27:56
  Speaker 4: What's going on with you?
• 1:28:04
  Speaker 2: Damn Jess, Damn Jess.
• 1:28:06
  Speaker 4: It's all good. Just three minutes ago, Jennifer, we're coming
• 1:28:09
  Speaker 4: to you, Jennifer. What's going on? I mute yourself. You've
• 1:28:12
  Speaker 4: been unmuted.
• 1:28:13
  Speaker 14: Hello, good evening, gentlemen, Thank you for this.
• 1:28:16
  Speaker 2: What's up, Jennifer?
• 1:28:17
  Speaker 14: How you doing? Matt quick question for you. So you know,
• 1:28:21
  Speaker 14: I'm a realtor Martha's Vineyard. I'm in the middle of
• 1:28:24
  Speaker 14: a deal now. Buyer client is buying land for one
• 1:28:27
  Speaker 14: point five eight five. Appraisal came back at one point four.
• 1:28:33
  Speaker 14: I went back to the appraiser with comps to justify
• 1:28:37
  Speaker 14: the one five eight five. He discounted them. He said,
• 1:28:40
  Speaker 14: no good the I'm representing the buyer. The seller's agent
• 1:28:44
  Speaker 14: went back and said their errors in the appraisal. So
• 1:28:47
  Speaker 14: the bank listened to that and is ordering a new appraisal.
• 1:28:52
  Speaker 14: So I'm curious to know, from your perspective as a
• 1:28:55
  Speaker 14: mortgage loan officer, what our chances look like of getting
• 1:29:01
  Speaker 14: How do you deal with this kind of situation and
• 1:29:03
  Speaker 14: what our chances look like of getting the APPRAI a
• 1:29:06
  Speaker 14: new appraisal to come up with the right numbers so
• 1:29:09
  Speaker 14: that the buyer client doesn't have to come up with
• 1:29:12
  Speaker 14: more cash.
• 1:29:13
  Speaker 2: Man, this was an amazing question. I'm glad you asked
• 1:29:15
  Speaker 2: the Jennifer great question because this happens every day unfortunately.
• 1:29:20
  Speaker 2: So first, I want the audience to know that the appraiser,
• 1:29:24
  Speaker 2: when he does an appraisal report, he's given his opinion
• 1:29:28
  Speaker 2: on a value. His opinion is goal to the banks,
• 1:29:33
  Speaker 2: and we're going to go off of that. You guys
• 1:29:34
  Speaker 2: did a great job by contesting that appraisal, and the AMC,
• 1:29:39
  Speaker 2: the Appraisal Management Company, believed you guys and say, you
• 1:29:43
  Speaker 2: know what, we're going to order a new appraisal. I
• 1:29:46
  Speaker 2: will tell you from my experience, there's a fifty maybe
• 1:29:50
  Speaker 2: I would probably say a sixty five percent chance that
• 1:29:53
  Speaker 2: appraisal comes in low to oh wow, it is, and
• 1:29:58
  Speaker 2: it's a thirty to chance that it might hit the
• 1:30:01
  Speaker 2: numbers that you want. If you have to remember, these
• 1:30:03
  Speaker 2: appraisers talk to each other. Number one, they're all providing
• 1:30:06
  Speaker 2: the same the same comps everywhere you go, and a
• 1:30:11
  Speaker 2: lot of appraisers they're going to use the same type
• 1:30:13
  Speaker 2: of formulas to either adjust up or adjust down when
• 1:30:17
  Speaker 2: it comes to their adjustments and comparables and things of
• 1:30:20
  Speaker 2: that nature. So there's a good possibility that this piece
• 1:30:24
  Speaker 2: of land will get a praise for the same value
• 1:30:29
  Speaker 2: or probably a little bit more. It's a good possibility
• 1:30:32
  Speaker 2: that it probably won't get ap praised for the sales price.
• 1:30:36
  Speaker 6: You know, that might even be something we need to
• 1:30:38
  Speaker 6: just have like a whole class or the appraisal process,
• 1:30:41
  Speaker 6: because I've had some experiences even now with something, you know,
• 1:30:45
  Speaker 6: property that I'm mentioningly.
• 1:30:46
  Speaker 9: Building, you know, thinking that the square feed is gonna
• 1:30:50
  Speaker 9: be one thing, but understanding like yo, if there's no floor,
• 1:30:52
  Speaker 9: then that really doesn't count.
• 1:30:53
  Speaker 4: And top inside the appraisal process.
• 1:30:55
  Speaker 6: So even understanding the interests of that, because that could
• 1:30:58
  Speaker 6: be a process that could make a break deal and
• 1:31:00
  Speaker 6: make or break them out of equity that you think
• 1:31:02
  Speaker 6: that you have in a property.
• 1:31:04
  Speaker 4: So justica, I appreciate that question. That was a great one.
• 1:31:06
  Speaker 2: Yeah, that was that was The praiser process is such
• 1:31:09
  Speaker 2: a finicky process, and I want everybody to understand lenders
• 1:31:13
  Speaker 2: do not control appraisals. That's number one. There's an Appraisal
• 1:31:17
  Speaker 2: Management company AMC that acts as the third party person
• 1:31:23
  Speaker 2: between the appraiser and the lender that AMC is choosing
• 1:31:28
  Speaker 2: from a round robbin of appraisers that's approved what said lender,
• 1:31:32
  Speaker 2: and then they pick that appraiser goes out and us
• 1:31:35
  Speaker 2: at the on the lender side, we have no clue
• 1:31:38
  Speaker 2: who that appraiser is until we get the actual report back.
• 1:31:42
  Speaker 2: So a lot of people always say it's the lenders
• 1:31:44
  Speaker 2: the lender. No, it's not the lender. It's with our
• 1:31:47
  Speaker 2: hands are tied because of all the regulations that was
• 1:31:50
  Speaker 2: put in place after the wild cowboy days. So that
• 1:31:53
  Speaker 2: was a great question. But it's an unfortunate thing that
• 1:31:57
  Speaker 2: happens in this market. And if you do get a
• 1:31:59
  Speaker 2: lower they not might go in your bias favor. Now
• 1:32:02
  Speaker 2: it's time to negotiate because now you got too low appraisals.
• 1:32:06
  Speaker 14: Right, Well, that's what I told him that we're going
• 1:32:09
  Speaker 14: back to the cellar and asking him to reduce the
• 1:32:11
  Speaker 14: price if it doesn't work out, which is great, which
• 1:32:15
  Speaker 14: is great for him, and I want, you know, him
• 1:32:17
  Speaker 14: to get a fair price.
• 1:32:18
  Speaker 2: Absolutely, and it goes in a favor. My question is
• 1:32:21
  Speaker 2: what are they doing with this lamb building the house? Okay,
• 1:32:25
  Speaker 2: so they are what type of financing are they doing?
• 1:32:30
  Speaker 2: Doing cash?
• 1:32:31
  Speaker 14: No, no, it's we do have a lot of cash deals,
• 1:32:35
  Speaker 14: but this one they're financing an eighty twenty loan.
• 1:32:38
  Speaker 2: Okay, okay, so they're doing eighty percent down and doing
• 1:32:42
  Speaker 2: the rest of eighty percent sat down. And then they
• 1:32:47
  Speaker 2: so they're doing acquisition and construction in one loan. Yes, yes, okay,
• 1:32:53
  Speaker 2: smart play. I like that.
• 1:32:55
  Speaker 3: Yeah, yeah, about that.
• 1:32:57
  Speaker 2: We know a thing or two. Yeah, good question.
• 1:33:02
  Speaker 14: Thing, Matt. You know I live in Massachusetts, but you
• 1:33:06
  Speaker 14: don't know that I grew up in Rockaway. Queens, get
• 1:33:08
  Speaker 14: the money.
• 1:33:09
  Speaker 2: Queens, get the money. Let's go you at the end
• 1:33:12
  Speaker 2: of the the Rockaways, the end of the Earth, the Earth,
• 1:33:17
  Speaker 2: the end of the Earth. Shout out to the Rockaways.
• 1:33:20
  Speaker 4: Out to Jennifer. Thanks Jennifer, Thank.
• 1:33:22
  Speaker 2: You, appreciate you, Jennifer. Queen's get the money.
• 1:33:26
  Speaker 4: All right's let's try this. That's uh, Regina, what's going on, y'all?
• 1:33:29
  Speaker 4: See you on muted? How you doing?
• 1:33:32
  Speaker 15: Hey, don't be alarmed. This is our brother, Reggie. Hey, Matt,
• 1:33:35
  Speaker 15: Troy Forshak Reggie. He's like, don't be alarmed.
• 1:33:43
  Speaker 3: Switch on us. I'm trying to house hack.
• 1:33:47
  Speaker 4: So what you're talking about.
• 1:33:51
  Speaker 15: Yeah, exactly, yeah, yeah, So long story short, my mom's
• 1:33:54
  Speaker 15: a real estate broker. We're trying to find Multiplatan properties
• 1:33:58
  Speaker 15: twenty nineteen could find me, but you feel me.
• 1:34:01
  Speaker 4: You off the market.
• 1:34:02
  Speaker 2: You doing a single family house in the upcoming neighborhood?
• 1:34:05
  Speaker 15: Now rehabbing this house right now, but I want to
• 1:34:07
  Speaker 15: kind of do a four three two one. So my
• 1:34:09
  Speaker 15: question for Matt is can I move out of here,
• 1:34:12
  Speaker 15: run this place out, moving my parents and then four
• 1:34:15
  Speaker 15: three to one from there?
• 1:34:16
  Speaker 2: Do you own the house you in now?
• 1:34:18
  Speaker 15: He's a conventional twenty year on it right now?
• 1:34:21
  Speaker 2: What type of property?
• 1:34:22
  Speaker 3: Is it?
• 1:34:23
  Speaker 15: Single family?
• 1:34:25
  Speaker 2: So you have a single family and then you want
• 1:34:27
  Speaker 2: to move with your parents and then go buy multi
• 1:34:30
  Speaker 2: families to house hot?
• 1:34:32
  Speaker 15: Yeah, rent this place out if I have to and
• 1:34:35
  Speaker 15: move my parents and just get troplex, duplex.
• 1:34:38
  Speaker 2: Or what I mean? I mean?
• 1:34:40
  Speaker 3: Yeah?
• 1:34:40
  Speaker 2: I mean look, so I have great question, bro father,
• 1:34:44
  Speaker 2: taxes properly, why are you living with your parents? So
• 1:34:48
  Speaker 2: make sure you show this single family property as an
• 1:34:52
  Speaker 2: investment property on your tax returns, so that way when
• 1:34:55
  Speaker 2: it's time for you to get your multi families and
• 1:34:57
  Speaker 2: the lenders say, well, you have this mortgage is a
• 1:34:59
  Speaker 2: single family, No, it's an investment property. Look at their
• 1:35:02
  Speaker 2: tax returns. It's on there. It's listed as an investment property.
• 1:35:07
  Speaker 2: So that way you buyd your multifamily and now doing
• 1:35:10
  Speaker 2: your househide journey, that won't impact you at all. Okay
• 1:35:14
  Speaker 2: from that perspective. Now, obviously you know, depending on how
• 1:35:17
  Speaker 2: much you deducted and everything like that could impact your
• 1:35:21
  Speaker 2: debt to income ratio and what you can qualify for.
• 1:35:23
  Speaker 2: That's a whole deeper conversation. But essentially to answer the question,
• 1:35:28
  Speaker 2: if you if you rent it out and you file
• 1:35:31
  Speaker 2: it on your taxes and show it as a true investment,
• 1:35:34
  Speaker 2: you shouldn't have an issue with the house hack to
• 1:35:37
  Speaker 2: start your house hacking.
• 1:35:38
  Speaker 15: Okay, great, So one more question for that. So I
• 1:35:41
  Speaker 15: have to wait the entire year to get taxes back
• 1:35:43
  Speaker 15: with my tax return to prove this or can I
• 1:35:46
  Speaker 15: do it before the year?
• 1:35:47
  Speaker 4: Bid?
• 1:35:48
  Speaker 2: When are you planning on doing this?
• 1:35:51
  Speaker 4: Oh?
• 1:35:52
  Speaker 2: I pray moving out of here.
• 1:35:53
  Speaker 4: It's based off by December.
• 1:35:56
  Speaker 2: I would say, if you can get a tenant in
• 1:35:58
  Speaker 2: there in this calendar year, Okay, I remember if you
• 1:36:01
  Speaker 2: wait till December, the movie you get somebody in that January. Now,
• 1:36:05
  Speaker 2: you're in twenty twenty three. Okay, you know what I mean.
• 1:36:08
  Speaker 2: So I would say, wait, I would say, if you
• 1:36:09
  Speaker 2: can get a tenant in there, start paying you so
• 1:36:12
  Speaker 2: that way you can file for twenty twenty two and
• 1:36:14
  Speaker 2: show it on there, then you're you're in a better position. Okay, perfect,
• 1:36:20
  Speaker 2: Thank you, appreciate you, appreciate you.
• 1:36:27
  Speaker 6: Let's try to Let's go to uh, let's go to Ashley. Ashley,
• 1:36:30
  Speaker 6: we are coming to you. Mut yourself. You have been unmuted.
• 1:36:34
  Speaker 6: Hopefully have a good naight. What's going on?
• 1:36:37
  Speaker 10: Hey there, how are you guys doing. I wanted to
• 1:36:43
  Speaker 10: just shout out and say thank you guys. I went
• 1:36:46
  Speaker 10: to the Black Money Forum and I met you.
• 1:36:48
  Speaker 3: Guys, juvenard all.
• 1:36:51
  Speaker 4: What happened to it?
• 1:36:52
  Speaker 2: What happened to him?
• 1:36:55
  Speaker 4: No?
• 1:36:55
  Speaker 10: Can you hear me?
• 1:36:58
  Speaker 2: Okay?
• 1:36:58
  Speaker 10: Yes, So I went to the Black Money Forum and
• 1:37:01
  Speaker 10: I've seen all you guys out there, really great information.
• 1:37:04
  Speaker 10: Met with you two MG. So thank you so much, appreciate.
• 1:37:09
  Speaker 10: So I wrote my question in the chat, but I'm
• 1:37:13
  Speaker 10: going to go back and get it. So I have
• 1:37:15
  Speaker 10: a few boats. I'm currently on the process of trying
• 1:37:18
  Speaker 10: to get myself together so that I can get like
• 1:37:21
  Speaker 10: that pre appraisal done in order to start looking and
• 1:37:26
  Speaker 10: you know, just getting myself ready. I found under a
• 1:37:29
  Speaker 10: lender and I'm currently working through that process. A question
• 1:37:33
  Speaker 10: that I have is can I go to multiple lenders
• 1:37:36
  Speaker 10: at the same time or do I have to start
• 1:37:40
  Speaker 10: with one lender and kind of like work from there.
• 1:37:44
  Speaker 2: For your pray approval. Yes, you can go to multiple
• 1:37:50
  Speaker 2: lenders at the same time. If you're going to have
• 1:37:53
  Speaker 2: multiple lenders run your credit, I would recommend doing it
• 1:37:56
  Speaker 2: all within the same twenty four hours twenty four to
• 1:38:00
  Speaker 2: fourty eight hours. But I'll be honest with you, you don't
• 1:38:04
  Speaker 2: need to go to multiple lenders once you know what
• 1:38:06
  Speaker 2: you're talking about, right, You just need to go to
• 1:38:08
  Speaker 2: one lender, know your scenario right. So that's why it's
• 1:38:12
  Speaker 2: important for you to be like the CEO right and
• 1:38:18
  Speaker 2: understand the process and understand your debt to income ratio,
• 1:38:22
  Speaker 2: Understand what programs that you are pre approved for, so
• 1:38:24
  Speaker 2: that way when you go to lender B and C,
• 1:38:27
  Speaker 2: you can have an intelligent conversation with them about your profile. Right,
• 1:38:31
  Speaker 2: so I can say, look, this is my fight, go
• 1:38:34
  Speaker 2: I got a forty over forty two debt to income ratio,
• 1:38:39
  Speaker 2: I'm already pre approved from ABC lender to get the
• 1:38:41
  Speaker 2: home Ready program with I'm doing five percent down. These
• 1:38:47
  Speaker 2: are my specs. A knowledge to a loan officer is
• 1:38:50
  Speaker 2: going to hear that and say, oh, you know what
• 1:38:51
  Speaker 2: you're talking about, Well, based off what you're saying, I
• 1:38:54
  Speaker 2: can get X, Y and Z for you. You know
• 1:38:56
  Speaker 2: what I mean? What did they quote you? Oh? I
• 1:38:57
  Speaker 2: can probably do that too. Right without your you have
• 1:39:00
  Speaker 2: to go through the credit polls, and that's when you
• 1:39:02
  Speaker 2: get more into being like that interviewer, you know what
• 1:39:05
  Speaker 2: I'm saying, versus the emotional home buyer where it's just
• 1:39:09
  Speaker 2: like you're happy just to get several pre approval letters
• 1:39:13
  Speaker 2: and offers and you're just like you're happy, go lucky, right,
• 1:39:16
  Speaker 2: and now multiple people don't run your credit for absolutely
• 1:39:19
  Speaker 2: no reason. So for me, that's why we did the
• 1:39:24
  Speaker 2: home Buyers Blueprint Volume one and Volume to, especially Volume
• 1:39:27
  Speaker 2: one to teach you guys how to be honestly. People
• 1:39:31
  Speaker 2: have taken the blueprint and now they're loan offices because
• 1:39:34
  Speaker 2: of the blueprint because they taught them so much and
• 1:39:36
  Speaker 2: now they got into the game.
• 1:39:37
  Speaker 3: Right.
• 1:39:38
  Speaker 2: So if you and you have access to the blueprint,
• 1:39:40
  Speaker 2: so I would tell you go in there and study
• 1:39:42
  Speaker 2: that bad boy so over fifteen hours of great information,
• 1:39:44
  Speaker 2: and they will teach you everything that you need to know,
• 1:39:47
  Speaker 2: how to calculate your income, how to figure out your
• 1:39:50
  Speaker 2: debt to income ratio. Hell, you'll probably be when you
• 1:39:52
  Speaker 2: finish the blueprint. You can preapprove yourself. You know what
• 1:39:56
  Speaker 2: I'm saying, and you'll know exactly what you're doing. So
• 1:40:01
  Speaker 2: I would say, can you to answer your question, yes,
• 1:40:05
  Speaker 2: can you go to multiple lenders at the same time
• 1:40:07
  Speaker 2: run your credit get three different pre approvals? Absolutely, But
• 1:40:10
  Speaker 2: if you got the home Buyers Blueprint at your disposal,
• 1:40:12
  Speaker 2: you don't need that.
• 1:40:13
  Speaker 10: You don't really need that, Okay, perfect. I am an
• 1:40:16
  Speaker 10: e y L member, So I'm gonna go ahead and
• 1:40:19
  Speaker 10: get in there and take another look at that.
• 1:40:22
  Speaker 2: Take advantage, take advantage. We got wet, we got the
• 1:40:26
  Speaker 2: assessments after every chapter. You're gonna be able to test
• 1:40:29
  Speaker 2: your knowledge base, and and then you got MG. You
• 1:40:32
  Speaker 2: can always hit me up too, because I respond to
• 1:40:35
  Speaker 2: the earnest every day all day. That is so true,
• 1:40:39
  Speaker 2: that priceless, that's price, that's perfect. I could charge all
• 1:40:42
  Speaker 2: twenty bands for that. I ain't gonna hold y' all up.
• 1:40:47
  Speaker 10: I hear that, Thank you so much. I have one
• 1:40:50
  Speaker 10: more question, real quick guidelines, just real quick. So can
• 1:40:54
  Speaker 10: you do an f H I think you answered that already.
• 1:40:56
  Speaker 10: You could do an FAH a loan on a multi property,
• 1:41:00
  Speaker 10: on a multi unit property. But here in here in
• 1:41:05
  Speaker 10: Brooklyn and New York City, like everything is so expensive
• 1:41:11
  Speaker 10: right now? What happens if can I don't know if
• 1:41:16
  Speaker 10: we have like the Albany the banks where you can
• 1:41:21
  Speaker 10: kind of get houses that are on foreclosure and whatnot.
• 1:41:24
  Speaker 10: But can you use an FHA loan towards a multi
• 1:41:26
  Speaker 10: property that might be on foreclosure lists?
• 1:41:30
  Speaker 2: Absolutely right, you can buy. You can use an FHA
• 1:41:33
  Speaker 2: loan for a burntdown bando building and get the money
• 1:41:37
  Speaker 2: to repair it. Noted, you can get one hundred percent
• 1:41:41
  Speaker 2: of your rehab cost. You can put down as little
• 1:41:44
  Speaker 2: as three point five percent down. You can buy a
• 1:41:47
  Speaker 2: burntdown band do and use an FHA two or three K,
• 1:41:51
  Speaker 2: and you have access to the homebase buullprint volume, to
• 1:41:53
  Speaker 2: the rehab pack that teaches you all of that too, right, huh?
• 1:41:58
  Speaker 3: Trapping out the bend.
• 1:41:59
  Speaker 2: Though, trapping out the bando in my ashad voice, the
• 1:42:04
  Speaker 2: two or three K will help you trap out the bando.
• 1:42:07
  Speaker 2: And this is the perfect tool for anybody, for especially
• 1:42:12
  Speaker 2: first timers who are looking to become real estate investors.
• 1:42:16
  Speaker 2: The two or three K gives you that training wheels
• 1:42:19
  Speaker 2: because you have what's called the HUT consultant. That HUT
• 1:42:21
  Speaker 2: consultant acts like a construction project manager, and that person
• 1:42:26
  Speaker 2: is there to protect you and the bank from the contractors.
• 1:42:30
  Speaker 2: See your in tractors con artist tractors. Right. So it's
• 1:42:34
  Speaker 2: a perfect tool to use, and I highly advise if
• 1:42:38
  Speaker 2: you want to go that route foreclosure short sells react
• 1:42:43
  Speaker 2: use that two or three K for you advantage, especially
• 1:42:45
  Speaker 2: in a high court state like New York where it
• 1:42:47
  Speaker 2: is so expensive here to buy multifamilies, you have to
• 1:42:51
  Speaker 2: find that rundown piece of crap house. But no, the
• 1:42:55
  Speaker 2: two or three K is there to help you, and
• 1:42:57
  Speaker 2: it's included in your membership. Take advantage, all.
• 1:43:00
  Speaker 10: Right, Thank you so so much, Thank you Ashley, no problem.
• 1:43:05
  Speaker 2: Actually, shout out to you with the black money from too.
• 1:43:09
  Speaker 2: That was a great time.
• 1:43:10
  Speaker 5: Shout out to two. Shout out to my god too.
• 1:43:13
  Speaker 5: Look man, the Home Buyer Blueprint Volume one is worth
• 1:43:17
  Speaker 5: at least a thousand dollars minimum. Vayume one and Volume
• 1:43:20
  Speaker 5: two at least twenty five hundred dollars. So when I'm
• 1:43:24
  Speaker 5: talking about Vayume one and Volume two added bundle together
• 1:43:28
  Speaker 5: with everything else that's in Eyo University, which we go
• 1:43:31
  Speaker 5: but and you get to ask questions for market, mondays,
• 1:43:34
  Speaker 5: that's that's the number one.
• 1:43:35
  Speaker 3: How do you get to ak Zoom questions?
• 1:43:36
  Speaker 5: You gotta be in Eyde University for five hundred dollars
• 1:43:40
  Speaker 5: for a year.
• 1:43:41
  Speaker 3: It's never going to happen again, I promise you. I
• 1:43:43
  Speaker 3: promise you It's never to happen.
• 1:43:45
  Speaker 4: They corrected you. They said this is even lower than
• 1:43:47
  Speaker 4: Black Product.
• 1:43:47
  Speaker 3: What was Black fridayt They said it.
• 1:43:49
  Speaker 2: Was I think it was six right.
• 1:43:54
  Speaker 5: Lower sale evidence lower than Black priduct for ninety nine
• 1:43:58
  Speaker 5: entire year US bootprint Volume one, Volume two, access to
• 1:44:02
  Speaker 5: the Facebook group, access to the Infinity Clubs, access to
• 1:44:07
  Speaker 5: my monthly financial planning calls, access to the movie club
• 1:44:09
  Speaker 5: and the book club. Access to the weekly classes that
• 1:44:12
  Speaker 5: we have on Zoom every single Wednesday at eight o'clock.
• 1:44:15
  Speaker 5: Access to the weekly investment classes toward by Chris.
• 1:44:21
  Speaker 2: Access to my monthly calls. Mm hm, those things, those
• 1:44:25
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• 1:44:26
  Speaker 3: And we got an in person experience that we go
• 1:44:29
  Speaker 3: crafting in person experience that's coming coming soon exclusive for
• 1:44:35
  Speaker 3: EYO University members.
• 1:44:38
  Speaker 2: Oh wait till they get that one. Oh my lord,
• 1:44:42
  Speaker 2: if y'all don't join now just because of out of it,
• 1:44:45
  Speaker 2: y'all see INVESTMENTST. Hold on, let me talk some shit
• 1:44:48
  Speaker 2: real quick. Y'all see INVESTMENTST.
• 1:44:51
  Speaker 3: And that's fast. It's going to be the biggest ever ever.
• 1:44:55
  Speaker 2: Imagine what we do for this for the.
• 1:44:57
  Speaker 5: Earners INVESTMENTST Investments dot com Man. When you when you
• 1:45:02
  Speaker 5: could put the mortgage guy in nineteen keys, Ian Dunlap,
• 1:45:05
  Speaker 5: Wall Street Trapper, Aristotle Investments, Chris Johnson, Donald Watson, Milano
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• 1:45:18
  Speaker 5: and then you add Steve Harvey, You add Charlamagne the God,
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• 1:45:27
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  Speaker 5: the number one motivational speaker in the world, Terry.
• 1:45:39
  Speaker 3: I don't forget that Terry doing that thing.
• 1:45:42
  Speaker 2: Trade and travel.
• 1:45:45
  Speaker 4: And you don't even mentioned Dan Keathy.
• 1:45:47
  Speaker 5: Oh my, that's that's Sky's worth seven billion dollars. He's
• 1:45:52
  Speaker 5: the former CEO of Chick fil At, David Shan's Sleepers
• 1:45:56
  Speaker 5: for Suckers Ash Cash.
• 1:45:59
  Speaker 4: Is this it to say that Cathy will not be
• 1:46:00
  Speaker 4: the only billionaire in attendance?
• 1:46:03
  Speaker 2: Stay tuned, Stay tuned, Stay tuned.
• 1:46:10
  Speaker 3: It's your fr P ticket, it's your fr ticket. It's
• 1:46:13
  Speaker 3: not fit to fight. That's the dune.
• 1:46:15
  Speaker 5: MG, not fear what we what we're doing is not fair.
• 1:46:19
  Speaker 5: It's a missile strike. It's as we have a missile strike,
• 1:46:23
  Speaker 5: and we got we got a basement full of unreleased
• 1:46:27
  Speaker 5: nuclear bombs.
• 1:46:28
  Speaker 3: We got a basement.
• 1:46:30
  Speaker 2: For y'all when our second wave come out, it's gonna
• 1:46:35
  Speaker 2: be over.
• 1:46:36
  Speaker 3: We got a basement of what Step said.
• 1:46:41
  Speaker 2: That second wave gonna hit you out like a title wave,
• 1:46:44
  Speaker 2: a tsunami. I'm trying to tell y'all, man, I can't
• 1:46:47
  Speaker 2: wait to we announce it.
• 1:46:50
  Speaker 5: Wow, best fast man, y'all need to be in man,
• 1:46:55
  Speaker 5: there's gonna be a whole.
• 1:46:56
  Speaker 3: Weekend of experience.
• 1:46:57
  Speaker 5: Is gonna have the official after party shots my brother
• 1:47:00
  Speaker 5: Smitty and that's.
• 1:47:04
  Speaker 3: Man. I don't want to give it.
• 1:47:06
  Speaker 2: A comparison, but there's none.
• 1:47:08
  Speaker 5: Every year it's gonna get bigger and bigger, and it's
• 1:47:11
  Speaker 5: gonna the city of Atlanta. I need to actually at
• 1:47:15
  Speaker 5: this point, Atlanta, we need to we need to be
• 1:47:18
  Speaker 5: compensated from the city because we raised the ticket prices
• 1:47:22
  Speaker 5: last year.
• 1:47:23
  Speaker 3: My ball was shout out to Bubbles.
• 1:47:24
  Speaker 5: He was coming from New York and last minute flight
• 1:47:27
  Speaker 5: and he was like, why is the flight's eight hundred
• 1:47:29
  Speaker 5: dollars to Atlanta. It's like two hundred dollars flight. And
• 1:47:32
  Speaker 5: he called the airlines and it was like, we're seeing
• 1:47:34
  Speaker 5: an uptake for some reason. I don't know what's going on,
• 1:47:36
  Speaker 5: but we're seeing an uptick and travel from New York.
• 1:47:39
  Speaker 3: We we we raised the ticket prices last year. That's
• 1:47:41
  Speaker 3: a fact.
• 1:47:42
  Speaker 5: We are responsible for raising ticket prices, like we caused
• 1:47:48
  Speaker 5: the inflation in the marketplace in Atlanta.
• 1:47:54
  Speaker 3: At l man, let's have a conversation.
• 1:48:00
  Speaker 2: Hit up the mayor.
• 1:48:01
  Speaker 3: We could take this on it. We could take this
• 1:48:02
  Speaker 3: to another city.
• 1:48:03
  Speaker 4: This is true.
• 1:48:05
  Speaker 3: We could take this to another city.
• 1:48:07
  Speaker 5: We gotta look at the ticket prices for planes, for hotels, restaurants,
• 1:48:11
  Speaker 5: hookah lounges.
• 1:48:13
  Speaker 2: Gentlemen clubs, forget about it.
• 1:48:15
  Speaker 3: Everything goes up that weekend, everything up that weekend.
• 1:48:20
  Speaker 2: You know, it's gonna go out that VI I P
• 1:48:22
  Speaker 2: VI P then on that Thursday.
• 1:48:25
  Speaker 3: That's that's.
• 1:48:34
  Speaker 5: It's about having fun. We can't forget my Hoday Caseo vintage.
• 1:48:43
  Speaker 5: I've become a fashion these days.
• 1:48:46
  Speaker 2: Shotti is or not. I ain't gonna hold you, bro.
• 1:48:49
  Speaker 2: I saw the Caseo earlier in the video. I saw
• 1:48:52
  Speaker 2: trying to kill him early.
• 1:48:54
  Speaker 5: You got it, race. You can't run from who you are.
• 1:49:00
  Speaker 5: It's not I always did fashion my whole life, so
• 1:49:03
  Speaker 5: this would only make sense.
• 1:49:04
  Speaker 3: The next move. Wait till the next move that you see.
• 1:49:11
  Speaker 7: It's called bigger, Yeah, bigger, respectfully, man, you gotta have
• 1:49:22
  Speaker 7: fun with it, man.
• 1:49:22
  Speaker 3: If you're not having fun, life is too short not
• 1:49:24
  Speaker 3: to have fun. Man. That's why we do this edutainment.
• 1:49:27
  Speaker 3: We missed.
• 1:49:28
  Speaker 5: We mix education with entertainment and we put it in
• 1:49:31
  Speaker 5: a blender and we just have fun.
• 1:49:33
  Speaker 4: Man.
• 1:49:33
  Speaker 3: That's what it's about.
• 1:49:34
  Speaker 4: Yeah, that's all, you know. That's it.
• 1:49:38
  Speaker 5: Don't take yourself too seriously. Gotta have fun with it.
• 1:49:42
  Speaker 5: Got to educate people. You gotta make money, and you
• 1:49:45
  Speaker 5: gotta stay fresh at all times.
• 1:49:47
  Speaker 3: That's very very important.
• 1:49:49
  Speaker 2: Responsibility, very important. Yes, it's the way.
• 1:49:55
  Speaker 3: You quick guy.
• 1:49:58
  Speaker 16: I know.
• 1:49:59
  Speaker 4: Our demonstration get.
• 1:50:00
  Speaker 5: Fresher that client. So I say that to say Eyo University.
• 1:50:05
  Speaker 5: If you're not Eyo University, you gotta question things. You
• 1:50:09
  Speaker 5: gotta sit down and start to question things in your
• 1:50:11
  Speaker 5: life four ninety nine. Nobody else is doing that, not
• 1:50:14
  Speaker 5: one person, nobody.
• 1:50:16
  Speaker 2: I'm gonna be honest with you. This price point is disrespectful. Yes,
• 1:50:20
  Speaker 2: for the amount of value that people get for this
• 1:50:23
  Speaker 2: dollar amount, Like, we give more value than I think anybody.
• 1:50:28
  Speaker 2: I'm not gonna hold you up out of it. Let
• 1:50:32
  Speaker 2: me take a matter of fact, we give more value
• 1:50:34
  Speaker 2: than anybody for the price points. This is the most
• 1:50:37
  Speaker 2: affordable educational platform in the marketplace for less than a
• 1:50:44
  Speaker 2: night at Pasha's in Atlanta.
• 1:50:47
  Speaker 17: Funny you say that, you know what demonstration I'm trying
• 1:50:51
  Speaker 17: to tell you, Like you go out with your home,
• 1:50:54
  Speaker 17: you go to chop House, Time Square, You're gonna spend
• 1:50:57
  Speaker 17: triple that with your friends.
• 1:50:59
  Speaker 3: At least at least you're gonna have to go for
• 1:51:02
  Speaker 3: eighteen hundred dollars at shop house House last weekend.
• 1:51:06
  Speaker 2: Glad I was sick. I don't miss those bills. Those
• 1:51:11
  Speaker 2: bills they come up, but you would think about it,
• 1:51:13
  Speaker 2: that's one night of just enjoying with the family and friends.
• 1:51:18
  Speaker 2: You can get three people. You can get two people
• 1:51:23
  Speaker 2: at E y l U and a couple of tickets
• 1:51:25
  Speaker 2: for a vest Fest for that same price.
• 1:51:28
  Speaker 3: True.
• 1:51:29
  Speaker 2: Yes, priorities, priority is important.
• 1:51:34
  Speaker 5: Train rolls along by own university is investing yourself. Biggest
• 1:51:38
  Speaker 5: investment you can make invest Fest.
• 1:51:41
  Speaker 3: And we will.
• 1:51:42
  Speaker 4: We will be there.
• 1:51:43
  Speaker 5: So it's called stay tuned. I encourage you every every
• 1:51:46
  Speaker 5: time we do something, we do it big. We went
• 1:51:49
  Speaker 5: to our bossle, we had DJ Callet, we had Sean
• 1:51:53
  Speaker 5: Sean Poe, like that's Shan Poe.
• 1:51:57
  Speaker 6: I ain't want the phone calls today.
• 1:52:03
  Speaker 2: Man, y'all gonna see soon enough. Man, y'all can't see.
• 1:52:08
  Speaker 4: Soon enoughs today alone.
• 1:52:12
  Speaker 2: Look y'all gonna see soon enough. When Shoty hit me
• 1:52:14
  Speaker 2: with the call today, I said, oh really we got
• 1:52:16
  Speaker 2: a call after that? Oh really.
• 1:52:21
  Speaker 4: After this match.
• 1:52:22
  Speaker 2: See look, guys, this is real time. I'm not even
• 1:52:24
  Speaker 2: upten on the other call that happened yet because they've
• 1:52:27
  Speaker 2: been moving to shake and I've been moving and shaken, right,
• 1:52:30
  Speaker 2: But the call Shotty already hit me with it was like,
• 1:52:33
  Speaker 2: oh I had to look at my phone, like.
• 1:52:36
  Speaker 17: Damn, still in the meeting, still they call it the.
• 1:52:43
  Speaker 2: Biggest for a reason at far.
• 1:52:49
  Speaker 9: Yeah, the best part is that the people here, they're
• 1:52:52
  Speaker 9: gonna get to enjoy it. And we tell y'all first
• 1:52:53
  Speaker 9: hand because every time we talk like this, I know
• 1:52:56
  Speaker 9: we're saying in a jest, but we're really serious, like
• 1:52:59
  Speaker 9: what we're about to do it has never been done,
• 1:53:01
  Speaker 9: and we're glad that our community is gonna be there
• 1:53:02
  Speaker 9: to celebrate it with us, because it's a win for
• 1:53:04
  Speaker 9: all of us.
• 1:53:05
  Speaker 4: It's a win for the space, it's a win for
• 1:53:07
  Speaker 4: the community, it's.
• 1:53:08
  Speaker 9: A win for the world really because financial literacy, like
• 1:53:10
  Speaker 9: I said, is a world topic and we you know,
• 1:53:12
  Speaker 9: we we're fortunate to be at the forefront of it,
• 1:53:14
  Speaker 9: and we take that very seriously.
• 1:53:16
  Speaker 3: Well, we do it with fun, so you gotta gotta
• 1:53:20
  Speaker 3: have fun.
• 1:53:20
  Speaker 5: But we thank you, guys, Thank you for joining us
• 1:53:23
  Speaker 5: as always, Thank you for rapping with us. More information
• 1:53:26
  Speaker 5: every single day. Don't stop, more information every single day.
• 1:53:31
  Speaker 5: Just keep spreading the word. Subscribe, Watch Rants and Gyms
• 1:53:35
  Speaker 5: every single Wednesday. Watch Earni Legion every Tuesday, Watch Market
• 1:53:38
  Speaker 5: Mondays and every Monday. Watch Inside the vaulte Inside the
• 1:53:41
  Speaker 5: Vote every Thursday. High level conversations whenever The nineteen Keys
• 1:53:45
  Speaker 5: decides to put episodes.
• 1:53:47
  Speaker 3: We got trapped Saturday. But yeah, this Saturday trap.
• 1:53:51
  Speaker 4: I spoke to him. Today's birthdays coming up, so happy birthday.
• 1:53:54
  Speaker 3: To my brother.
• 1:53:55
  Speaker 2: Shout out the big trap. Make sure y'all watch that.
• 1:53:57
  Speaker 2: We just dropped the ransom jams with Jose to credit
• 1:53:59
  Speaker 2: due talking about that business credit in real estate. Man,
• 1:54:03
  Speaker 2: So go ahead after this, go watch that. It's a
• 1:54:05
  Speaker 2: phenomenal episode. So shout out to Jose. He's a certified
• 1:54:08
  Speaker 2: cham Sure.
• 1:54:10
  Speaker 18: Matt breaking loose Alric. We gotta go, y'all, y'all, peace,
• 1:54:18
  Speaker 18: I gotta go. I'm Tom, y'all, y paar me your phone.
• 1:54:23
  Speaker 18: You're rocking with the biggest right now.
• 1:54:25
  Speaker 16: Eyl University forty eight hour flash sale. Don't miss it.
• 1:54:28
  Speaker 16: Go to euyuniversity dot com. The night wait until you
• 1:54:31
  Speaker 16: see what we got to do is call Please don't
• 1:54:35
  Speaker 16: play yourself.
• 1:54:39
  Speaker 4: Yo. Congratulations, y'all have a good night.
• 1:54:43
  Speaker 3: It depends day if you celebrate.
• 1:54:44
  Speaker 4: That all that.
• 1:54:45
  Speaker 18: Oh my Matt, pick up your phone please, y'all right now,
• 1:54:48
  Speaker 18: get right up.
• 1:54:50
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 1:54:54
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador,
• 1:54:58
  Speaker 1: accused of murdering a Texas of Venezuelan charged with filming
• 1:55:02
  Speaker 1: and selling child pornography in Michigan. These are just some
• 1:55:06
  Speaker 1: of the heinous migrant criminals caught because of President Donald J.
• 1:55:10
  Speaker 10: Trump's leadership.
• 1:55:11
  Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.
• 1:55:15
  Speaker 1: Under President Trump, attempted illegal border crossings are at the
• 1:55:19
  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.
• 1:55:23
  Speaker 14: Have been arrested.
• 1:55:25
  Speaker 1: If you are here illegally, your next you will be
• 1:55:28
  Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.
• 1:55:32
  Speaker 1: You will never return. But if you register using our
• 1:55:36
  Speaker 1: CBP home app and leave now, you could be allowed
• 1:55:39
  Speaker 1: to return legally. Do what's right. Leave now. Under President Trump,
• 1:55:44
  Speaker 1: America's laws, border and families will be protected.
• 1:55:48
  Speaker 2: Sponsored by the United States Department of Homeland Security.