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Study Hall: Top Business Tips & Buying Back the Block · Earn Your Leisure

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  Speaker 1: Hi.
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  Speaker 3: See you on the other side.
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  Speaker 6: My graduates from my school being.
• 1:37
  Speaker 1: Forts back drop bag Drop, Mike drop back drop Drop.
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  Speaker 5: So you started a business the Erael Commerce. Can you
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  Speaker 5: talk about that?
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  Speaker 7: So basically none something else. I like to teach entrepreneurs,
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  Speaker 7: especially the ones that's coming out of the corporate world.
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  Speaker 6: Everybody feels like I.
• 2:04
  Speaker 7: Got to create something new, Like I got to get
• 2:07
  Speaker 7: into an industry that I see everybody else doing, right,
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  Speaker 7: But what I realized is like, man, if this company
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  Speaker 7: is paying me one hundred grand a year to do
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  Speaker 7: this job. There has to be a smaller business out
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  Speaker 7: there somewhere that needs these same services, need the same
• 2:18
  Speaker 7: skill set, and I can just go out and provide
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  Speaker 7: the service for them, and instead of being their employee,
• 2:24
  Speaker 7: I become their consultant. So that's what Erael commerces. I
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  Speaker 7: took all that experience I had, all those connections I
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  Speaker 7: had with the railroad, all these oil and gas companies,
• 2:31
  Speaker 7: and I found all these smaller companies that need or
• 2:34
  Speaker 7: want to get a contract with an Exxon. Because Exon
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  Speaker 7: has over ten thousand rail cars. Everyone of those cars
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  Speaker 7: has to be maintained, has to be repainted, has to
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  Speaker 7: be cleaned, that has to be maintenance done to them.
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  Speaker 7: They have to storm when they're not using, they got
• 2:46
  Speaker 7: to park them somewhere. So what I do is I
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  Speaker 7: help all those companies that provide those services get in
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  Speaker 7: the door with Exon, get the contract, and then they
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  Speaker 7: perform all the work and I just get commissions off
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  Speaker 7: of the deals.
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  Speaker 5: Wow, so you get like the relationship man I am.
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  Speaker 7: I'm basically broker basically broker in and I have everything
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  Speaker 7: set up with with my clients to where whatever contract
• 3:06
  Speaker 7: that helped them get I get paid.
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  Speaker 3: But so eraail is not the only.
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  Speaker 4: Form of consultation that you're providing, right, Don't you have
• 3:14
  Speaker 4: a few other consultation things that you do well.
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  Speaker 7: I mean, in general, I just try to help entrepreneurs
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  Speaker 7: get started, you know, because I mean I was so
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  Speaker 7: lost when I was trying to get out out of
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  Speaker 7: the work world.
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  Speaker 6: I was like, man, nobody was really here to guide
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  Speaker 6: me and teach me.
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  Speaker 7: So I use my social media platform, and you know,
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  Speaker 7: I use that network and that audience as as my
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  Speaker 7: way to give.
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  Speaker 6: Back, you know.
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  Speaker 7: So anybody that has helped wants helped with it getting
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  Speaker 7: started entrepreneurship. I try to teach them the basis kind
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  Speaker 7: of stuff is we're talking about now, you know what
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  Speaker 7: I mean. I get them as far as I can,
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  Speaker 7: and then I try to network with someone that's actually
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  Speaker 7: in their field and try to get them to get
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  Speaker 7: under that person.
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  Speaker 4: So you're providing the mentorship by consulting, right, Okay, gotcha.
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  Speaker 5: Consulting is something that we also haven't spoken about yet
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  Speaker 5: in this podcast, but it's extremely important and it's a
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  Speaker 5: very profitable business as well. Consultants you have can resultants
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  Speaker 5: in school industry, you have consultants in political industry, you
• 4:02
  Speaker 5: have consultants in all kinds of stuff, right, can you
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  Speaker 5: explain the importance a lot of times, especially for small
• 4:07
  Speaker 5: business owners. This is the problem with small business owners
• 4:09
  Speaker 5: us compare the business big business. They have a small
• 4:12
  Speaker 5: way of thinking. They understand the power of consulting. They
• 4:15
  Speaker 5: don't understand the power of marketing. They don't understand They
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  Speaker 5: just want to just do the work. It's like running
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  Speaker 5: on the tread, but you can only get so far. Right,
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  Speaker 5: when you get enough win behind you know, you can
• 4:25
  Speaker 5: start to fly. So when you talking about the power
• 4:27
  Speaker 5: of consulting, like what can somebody get value out of
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  Speaker 5: hiring the right consultant.
• 4:35
  Speaker 6: So there's only two ways you're gonna learn.
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  Speaker 7: You either gonna bump your head and you're gonna lose
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  Speaker 7: time and money, or you're gonna pay for the knowledge.
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  Speaker 6: Period. There's no other way you're gonna learn. Right, So
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  Speaker 6: you hire a consultant.
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  Speaker 7: A consultant as someone that's an expert in that field,
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  Speaker 7: that has already got experience doing what you're trying to do,
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  Speaker 7: or they can help you with a particular area of
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  Speaker 7: the business that you can't fulfill, Like if you have
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  Speaker 7: a great product, but you don't know how to get
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  Speaker 7: it in front of enough people. You need a marketing
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  Speaker 7: consultant to come in and help you get it in
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  Speaker 7: front of the right people. And so it's basically a
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  Speaker 7: way for you to you can add a whole department
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  Speaker 7: to your business without actually having a hire an employee.
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  Speaker 6: It's a consultant. You know.
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  Speaker 7: That consultant can neither be somebody that's paid by the hour,
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  Speaker 7: or it could be somebody that I always recommend you
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  Speaker 7: get performance based consultants, which means they work off a commission.
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  Speaker 6: So if they don't produce.
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  Speaker 7: For you, they don't make any money, right, so that
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  Speaker 7: gives them a vested reason to get in there and
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  Speaker 7: work hard and get something done. And on the flip
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  Speaker 7: side of that that, like you said, that's a very
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  Speaker 7: lucrative business too, because it's a business where it doesn't
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  Speaker 7: require you have to invest a lot. You can work
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  Speaker 7: from home and be a consultant and people actually paying
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  Speaker 7: you just for the knowledge that you already have. You know,
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  Speaker 7: so you can take that corporate experience.
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  Speaker 6: You could.
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  Speaker 7: Man, you could have been flipping burgers at McDonald's for
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  Speaker 7: five years. But guess what skill set you got, you
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  Speaker 7: know what it takes to onboard a new employee. So
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  Speaker 7: you can go to other small restaurants and say, here's
• 5:55
  Speaker 7: the McDonald's model. I'm gonna teach you how to run
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  Speaker 7: the McDonald's model for your restaurant.
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  Speaker 3: And that's something that anybody can do.
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  Speaker 4: Like, as you're saying it, I'm thinking of like especially
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  Speaker 4: in the education field, and especially in the restaurant field
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  Speaker 4: as well.
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  Speaker 3: It's like people always try to figure out how.
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  Speaker 4: Can they make passive income, right, and they don't realize
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  Speaker 4: that they have a skill set already. They're just overlooking it, right,
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  Speaker 4: they're not maximizing their potential.
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  Speaker 5: Well, this is one of the things you talk about
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  Speaker 5: multiple streams of income. That is that the average millionaire
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  Speaker 5: has seven streams of income. That doesn't mean they has
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  Speaker 5: seven jobs or even seven businesses. Is that they're maximizing
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  Speaker 5: their skills maybe one or two businesses. So, as you said,
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  Speaker 5: you can be a teacher, right, but you're an expert
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  Speaker 5: in that field. If you're a really good teacher, now
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  Speaker 5: you can be a consultant to school districts, right, curriculum
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  Speaker 5: things of that nature. Right, And that's something that anybody
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  Speaker 5: can do. As Choice said, even if you're still an employee,
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  Speaker 5: you can be an entrepreneur and create your own consulting business.
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  Speaker 4: And the amount of time it doesn't require as much,
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  Speaker 4: right they say, these are my hours.
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  Speaker 3: You dictate the hours, and you dictate the fees, and a.
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  Speaker 7: Lot of time you're helping different customers and clients with
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  Speaker 7: the same problem exactly, so you.
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  Speaker 6: Already know it like in and out.
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  Speaker 5: You know, for your for your consulting business, how did
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  Speaker 5: you market yourself to to your customers and clients?
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  Speaker 7: How do you man The most powerful tool I use
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  Speaker 7: is linked in, Okay, And what I liked about LinkedIn
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  Speaker 7: is because when when you put yourself on there as
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  Speaker 7: a business owner, you give yourself whatever title you want,
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  Speaker 7: you know, So I gave my it's just it's me
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  Speaker 7: and one partner, but my title is executive VP. So
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  Speaker 7: that puts you in a whole different arena. They look
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  Speaker 7: at you like, it's all perception. It's all perceptions. So
• 7:34
  Speaker 7: then when I go to when I see a company
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  Speaker 7: that I'm trying to get a connection with, and I
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  Speaker 7: go to the CEO and request to connect with them,
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  Speaker 7: they were like, oh, it's another executive that wants to connected.
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  Speaker 3: We got an EXECU that wants to meet you.
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  Speaker 6: Yeah.
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  Speaker 7: Yeah, And that's all it is is positioning, and it's
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  Speaker 7: it's all about you know what you post.
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  Speaker 6: I post.
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  Speaker 7: I repost a lot of Wall Street Journal type articles
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  Speaker 7: that are related to the industry. Any type of insight
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  Speaker 7: that I get from anybody else that's in the industry,
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  Speaker 7: I'll make a post about that. So then you kind
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  Speaker 7: of position yourself as a subject matter expert. So then
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  Speaker 7: a lot what happens is eventually enough people are watching
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  Speaker 7: your posts to where when they have a problem, they
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  Speaker 7: come to you instead of you having to go out
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  Speaker 7: and ask for business. And another great thing I like
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  Speaker 7: about LinkedIn is because you can type in any job
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  Speaker 7: title you want. So I'm in a supply chain, right,
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  Speaker 7: I type in direct a supply chain.
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  Speaker 6: LinkedIn is going to give me a list of people
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  Speaker 6: with that title. So all I do is go connect
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  Speaker 6: connect connect connect connect connect.
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  Speaker 7: You know, and then that builds your audience because people
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  Speaker 7: go to check you out to see who is this
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  Speaker 7: that's asking the link with me? And then like my
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  Speaker 7: network on LinkedIn is like seventeen thousand, it's all industrial products,
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  Speaker 7: supply chain people from all these big companies.
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  Speaker 5: That's a lot of that's a lot. But LinkedIn you
• 8:41
  Speaker 5: got to accept every single person, right.
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  Speaker 7: Yeah, well yeah, the person has the person has to
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  Speaker 7: approve the connection. But if your page is set up
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  Speaker 7: to where it looks like, oh, this is somebody that
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  Speaker 7: I might want in my network, then you're good. And
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  Speaker 7: that's the whole purpose of you know, making sure that
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  Speaker 7: you set yourself up right on there with the right titles.
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  Speaker 5: You send and you with it in mail, right, they
• 9:02
  Speaker 5: send you in mail, so you could both.
• 9:04
  Speaker 6: I guess I'm both. Yeah.
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  Speaker 7: I met with a guy matter of fact, he flew
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  Speaker 7: in from Arkansas last week because he's working with a
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  Speaker 7: private development group that does industrial development and they're looking
• 9:17
  Speaker 7: for new locations to build new rail terminals. And that's
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  Speaker 7: part of my job when I working the railroad, so
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  Speaker 7: that's part of my consulting too. So he literally reached
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  Speaker 7: out to me because he had been seeing me make
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  Speaker 7: these posts on LinkedIn about railroad development and railroad terminals.
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  Speaker 7: So he this gout literally flu in for the day
• 9:32
  Speaker 7: just for that meeting.
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  Speaker 4: You are using your resources efficiently, and a lot of
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  Speaker 4: times people don't realize that, like they're just on LinkedIn
• 9:40
  Speaker 4: or they're just on Facebook just to put pictures up,
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  Speaker 4: not networking, and not realizing how powerful a tool they
• 9:46
  Speaker 4: have at their fingertips.
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  Speaker 5: Well, LinkedIn is only for networking. But I got to
• 9:51
  Speaker 5: get a better I gotually got to do a better
• 9:53
  Speaker 5: job on LinkedIn because I don't know, I just don't
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  Speaker 5: feel too comfortable with it. I feel like it's some
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  Speaker 5: kind of boring.
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  Speaker 7: It is boring, but it's like Facebook, but it's for
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  Speaker 7: business only. Yeah, it's powerful, Yeah, it is, it is.
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  Speaker 7: I mean you can you would be surprised that people
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  Speaker 7: that don't have a lot of LinkedIn followers that are
• 10:12
  Speaker 7: like powerful people like I mean like producers, executive producers
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  Speaker 7: at these big stations. They may have five hundred, one
• 10:19
  Speaker 7: thousand connections and you go requested and it's approved the
• 10:22
  Speaker 7: next day.
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  Speaker 3: You know.
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  Speaker 7: But it's like it's like it's like a back door
• 10:25
  Speaker 7: to get the connection that usually you have to call
• 10:28
  Speaker 7: a corporate headquarters and talk to administrative person and ask
• 10:31
  Speaker 7: the schedule time to meet this person.
• 10:33
  Speaker 6: You just go LinkedIn and find them so.
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  Speaker 4: When you need it's like getting you past all those
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  Speaker 4: things exactly, like all the gatekeepers, Yeah, pass all the gatekeepers.
• 10:40
  Speaker 3: If the person's on LinkedIn if they're on that.
• 10:42
  Speaker 5: But every everybody's on LinkedIn, and LinkedIn is one is
• 10:45
  Speaker 5: the most powerful search thing too, because like so when
• 10:47
  Speaker 5: you search somebody's name on Google, the first thing that
• 10:48
  Speaker 5: comes up is LinkedIn. That's like the first thing. It's
• 10:51
  Speaker 5: like it's like your online resume pretty much it is.
• 10:54
  Speaker 5: And so I don't know how they how they work
• 10:56
  Speaker 5: that with the algorithm, but they always are on the
• 10:58
  Speaker 5: top of your thing. So you kind of have to
• 11:00
  Speaker 5: have a LinkedIn page if you're doing anything in business.
• 11:02
  Speaker 5: It's like almost mandatory.
• 11:04
  Speaker 3: Yeah, I agree, I got up done, man.
• 11:05
  Speaker 5: Yeah, all right, So that was good for So now
• 11:08
  Speaker 5: in the last time we want going to real estate,
• 11:09
  Speaker 5: we're gonna talk all sting real estate.
• 11:10
  Speaker 3: That's things going on, that's what you're focused.
• 11:12
  Speaker 5: So yeah, for sure. All right, So in the last time,
• 11:14
  Speaker 5: we're gonna talk about real estate, right, So, okay, what
• 11:18
  Speaker 5: made you go into real estate first and foremost.
• 11:21
  Speaker 7: Like I said, I kind of fell into it with
• 11:22
  Speaker 7: the court, with the with the corporate job and leaving
• 11:25
  Speaker 7: and I had bought a house at the first gig
• 11:28
  Speaker 7: and when I moved back to Houston, I couldn't sell it.
• 11:30
  Speaker 7: So I had to get a property manager. Property manageer
• 11:34
  Speaker 7: rented out. I was making like four hundred bucks a
• 11:35
  Speaker 7: month and I wasn't working at all for it. I
• 11:38
  Speaker 7: was like, this is this seems like something lucrative. And
• 11:41
  Speaker 7: you know, the more you research real estate, it's like
• 11:43
  Speaker 7: eighty percent of the first time millionaires are made in
• 11:45
  Speaker 7: real estate.
• 11:46
  Speaker 4: But this is at a relatively young age, right, Like
• 11:48
  Speaker 4: your first property was at twenty two.
• 11:50
  Speaker 3: Yeah, twenty two, that's pretty young.
• 11:52
  Speaker 7: Yeah, twenty man, So that was that was kind of
• 11:55
  Speaker 7: a blessing through having worked with the railroad while I
• 11:58
  Speaker 7: was in school, I had a no tenure with them
• 12:01
  Speaker 7: to actually qualify for a moving package. So when you
• 12:03
  Speaker 7: work with a corporate company, when they move you, they
• 12:06
  Speaker 7: either give you a stipend or they give you like
• 12:09
  Speaker 7: a down payment towards the house. Yeah, and so they
• 12:12
  Speaker 7: gave me the down payment and instead of meeting apartment
• 12:14
  Speaker 7: and pocketing the money, just had to get a house.
• 12:16
  Speaker 4: But you could have took the stipend, I could have
• 12:17
  Speaker 4: took the type he took the long term place. Yeah yeah, yeah,
• 12:20
  Speaker 4: I mean you're not an engineered by mistake. Yeah yeah.
• 12:24
  Speaker 5: So all right, so then how did that transition to
• 12:26
  Speaker 5: you doing what you're now as far as you're developing.
• 12:29
  Speaker 6: So okay.
• 12:30
  Speaker 7: So when I moved to Houston, I decided I wanted
• 12:33
  Speaker 7: to go really hard on the in the real estate game.
• 12:36
  Speaker 7: And so one of my line brothers, my fright brother,
• 12:40
  Speaker 7: worked for home Vestors that we buy ugly houses people,
• 12:42
  Speaker 7: and he was their property manager in the hood, and
• 12:45
  Speaker 7: so I kind of told him what I wanted to do,
• 12:47
  Speaker 7: and so he ended up plugging me with one of
• 12:48
  Speaker 7: the contractors that home Vestors us. And this guy was
• 12:51
  Speaker 7: flipping twenty thirty houses a month for them, doing actual
• 12:53
  Speaker 7: rehab work, and so he kind of became my mentor
• 12:56
  Speaker 7: and we would pick houses, I would flip them. Of
• 12:59
  Speaker 7: course he would make money off the rehabs. And so
• 13:01
  Speaker 7: that's how I kind of got into the real estate game.
• 13:03
  Speaker 7: In two thousand and nine. I would sell some of them,
• 13:05
  Speaker 7: I kept some of them for rentals, and I was
• 13:07
  Speaker 7: doing that for about five years.
• 13:10
  Speaker 3: But then I got.
• 13:10
  Speaker 6: Tired of having rental property.
• 13:12
  Speaker 7: I mean, I know everybody says that that's supposed to
• 13:14
  Speaker 7: be supposed to buy a home and live in and
• 13:16
  Speaker 7: have rental property, but man on.
• 13:18
  Speaker 6: The rentals sucks.
• 13:21
  Speaker 7: The downfalls Okay, So a lot of people, it's a
• 13:24
  Speaker 7: good profit margin on a rental properties three or four
• 13:26
  Speaker 7: hundred bucks a month, right, but you have one month,
• 13:30
  Speaker 7: say like a tenant moves out, and then it takes
• 13:32
  Speaker 7: you a month to find another tenant's And if your
• 13:35
  Speaker 7: mortgage payment is twelve hundred dollars, that's literally three months
• 13:40
  Speaker 7: of your profit gone.
• 13:41
  Speaker 6: If you got to make a repair that repairs.
• 13:44
  Speaker 7: One thousand dollars, that's another two and a half months
• 13:47
  Speaker 7: of profit gone, you know what I mean. And so
• 13:49
  Speaker 7: for me, it was like and then you have this debt.
• 13:52
  Speaker 7: I was own like one hundred, one hundred and twenty
• 13:54
  Speaker 7: on each house, and so now you got debt and
• 13:57
  Speaker 7: you got these small profit margins, and it's like, Okay,
• 13:59
  Speaker 7: I could see how long term I can continue to
• 14:01
  Speaker 7: do this and make money slowly. But dealing with tenants, tennants,
• 14:05
  Speaker 7: tearing stuff up, you know, it just wasn't. It wasn't
• 14:07
  Speaker 7: something that I enjoyed doing.
• 14:09
  Speaker 4: What type of properties were you looking for? Was it
• 14:11
  Speaker 4: single family homes or family or property?
• 14:13
  Speaker 7: Yeah, at that point in time, I didn't qualify for
• 14:15
  Speaker 7: anything like extravagant, So was just buying a little single
• 14:17
  Speaker 7: family homes and I'm saying, there's nothing wrong with it.
• 14:19
  Speaker 7: You know, everybody can make money in any industry, but
• 14:21
  Speaker 7: for me, it's just like I want to do something bigger,
• 14:23
  Speaker 7: and so I guess I continued to flip. I started realizing.
• 14:26
  Speaker 7: You know, this narrative about gentrification happens over.
• 14:30
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  Speaker 7: Over and over, and I was like, man, I know
• 17:23
  Speaker 7: a few of us that are flipping. I don't know
• 17:26
  Speaker 7: anybody that's really trying to get into the development game
• 17:29
  Speaker 7: and you know, kind of change the narrative so we
• 17:33
  Speaker 7: have some control over that. So twenty thirteen, that's when
• 17:35
  Speaker 7: I decided to kind of get off into that. So
• 17:38
  Speaker 7: with you buying land in twenty thirteen, was that the
• 17:40
  Speaker 7: next step. I didn't know what I was going to buy.
• 17:42
  Speaker 7: I just knew what I was gonna do is stop
• 17:43
  Speaker 7: flipping and try to figure it out. Okay, So I
• 17:44
  Speaker 7: just started talking about it, and man, it came full circle.
• 17:47
  Speaker 7: That same my same line brother that helped me get
• 17:51
  Speaker 7: into the game. He had an old tenant reach out
• 17:53
  Speaker 7: to him that used to be in one of the
• 17:55
  Speaker 7: properties and say, hey, I'm over here in fifth Ward
• 17:58
  Speaker 7: and the landlord over here is taking care of the property.
• 18:01
  Speaker 7: I think he's on drugs, and so you know, what
• 18:04
  Speaker 7: he heard was opportunity. So he reached out to me
• 18:07
  Speaker 7: and he's like, man, I think we got opportunity to
• 18:09
  Speaker 7: go pick up a few houses over here. So I
• 18:11
  Speaker 7: went to go meet with the guy. Ended up being
• 18:13
  Speaker 7: a whole block, got a grocery store on it. Okay,
• 18:18
  Speaker 7: true story. At the time this was in the hood,
• 18:21
  Speaker 7: it wasn't worth nothing. It was probably worth three hundred thousand.
• 18:24
  Speaker 7: The whole block.
• 18:25
  Speaker 6: Everything was kind of run down.
• 18:27
  Speaker 7: But it's in the area where you tell somebody I'm
• 18:28
  Speaker 7: about to go spend three hundred thousand, They're like, man.
• 18:30
  Speaker 6: Are you crazy.
• 18:32
  Speaker 7: It's the hood, nothing but drugs and prostitution over there.
• 18:34
  Speaker 7: You're gonna waste your money, you know. So what I
• 18:37
  Speaker 7: ended up doing to talk him in doing the deal,
• 18:39
  Speaker 7: I offered him four hundred thousand for it. So but
• 18:42
  Speaker 7: of course I didn't have the cash to pay four
• 18:43
  Speaker 7: hundred thousand. So he actually had inherited the property from
• 18:47
  Speaker 7: his dad. His dad was like a real estate taccoon,
• 18:50
  Speaker 7: had like twenty.
• 18:50
  Speaker 3: Six blocks over there, twenty six block, twenty six.
• 18:53
  Speaker 7: Blocks, twenty six blocks, and this block happened to be
• 18:56
  Speaker 7: the one that they gave this this this kid, and
• 19:00
  Speaker 7: he was like the horrible kid, you know what I mean.
• 19:03
  Speaker 3: He watched it.
• 19:04
  Speaker 7: Yeah, yeah, So so this was the one he had,
• 19:07
  Speaker 7: and he still wasn't taking care of it.
• 19:08
  Speaker 6: So I offered him on owner finance scenario where it's like,
• 19:12
  Speaker 6: I gave.
• 19:12
  Speaker 7: You ten percent now with all the fars. So that's
• 19:15
  Speaker 7: when the instead of you, instead of going to the bank,
• 19:18
  Speaker 7: the owner that actually doesn't have any debt on the
• 19:20
  Speaker 7: property will let you make payments over time to buy
• 19:23
  Speaker 7: the property from them. So I gave him ten percent
• 19:26
  Speaker 7: of what we agreed to the four hundred thousands, so
• 19:28
  Speaker 7: forty thousand dollars which came from me selling one of
• 19:31
  Speaker 7: my rental properties.
• 19:32
  Speaker 6: And then that allowed me now.
• 19:34
  Speaker 7: To control that whole block of property, and it had
• 19:37
  Speaker 7: the grocery store on it and then had the houses,
• 19:39
  Speaker 7: but everything was really run down. So instead of fixing
• 19:42
  Speaker 7: it up, what I decided to do was do parole
• 19:46
  Speaker 7: lee housing for felons because it's really hard for.
• 19:49
  Speaker 6: Him to find anywhere to live.
• 19:51
  Speaker 7: So I would rent them out a single room in
• 19:55
  Speaker 7: each one of the houses, charging three to fifty a
• 19:57
  Speaker 7: month or something that they could afford because the type
• 19:59
  Speaker 7: of job they could get, you know, they didn't have
• 20:01
  Speaker 7: much income, or they like a halfway house pretty much
• 20:03
  Speaker 7: like a halfway house.
• 20:04
  Speaker 5: Yeah, they call them sroro houses. And then so the
• 20:07
  Speaker 5: state paid you that right.
• 20:09
  Speaker 7: Sometimes sometimes if it depends on what program they're in,
• 20:13
  Speaker 7: they get some type of housing assistance. But most of
• 20:15
  Speaker 7: the time, no, they had to go get a job.
• 20:17
  Speaker 7: So that's what made it really good, because you talk
• 20:18
  Speaker 7: about a low risk tenant, you got somebody that's happy
• 20:22
  Speaker 7: to be out of prison.
• 20:23
  Speaker 6: They was in prison for non violent offense. I didn't
• 20:25
  Speaker 6: do violent people.
• 20:26
  Speaker 7: They had to keep a job and they had to
• 20:27
  Speaker 7: keep somewhere to stay, and ninety nine percent of the
• 20:30
  Speaker 7: places wouldn't even allow them to live there, so they
• 20:32
  Speaker 7: were like they were like built in good high revenue
• 20:37
  Speaker 7: for me, you know what I mean as collectively in
• 20:39
  Speaker 7: each house. Whereas I could have rented that whole house
• 20:41
  Speaker 7: for five hundred dollars to a regular family, now I'm
• 20:44
  Speaker 7: making eleven twelve hundred dollars off that same house, you know,
• 20:47
  Speaker 7: with this program. And because you were renting the rooms,
• 20:49
  Speaker 7: them individual rooms, and most of them had trades, so
• 20:51
  Speaker 7: they were like carpenters, electricians, plumbers. They all earned their
• 20:54
  Speaker 7: trades in prison. So anything went wrong, I just dropped
• 20:57
  Speaker 7: off materials they built in and they were just happy
• 21:02
  Speaker 7: to have somewhere to live, you know. So yeah, so
• 21:04
  Speaker 7: that worked out. That was a win win man, And
• 21:07
  Speaker 7: then that was twenty thirteen, fourteen fifteen. I did that
• 21:12
  Speaker 7: in twenty sixteen. Redevelopment kind of started in the area
• 21:16
  Speaker 7: that I was in. Something else that I always watched too,
• 21:19
  Speaker 7: even when I was flipping, is what the city's plans were.
• 21:22
  Speaker 6: And you can go to.
• 21:24
  Speaker 7: The planning Department's website and it'll tell you what their
• 21:27
  Speaker 7: plan to do five years, ten years down the road.
• 21:30
  Speaker 7: And that's a lot of the game that we don't
• 21:32
  Speaker 7: pay attention to, but you know, the other groups pay attention.
• 21:35
  Speaker 5: Where can you find that information that?
• 21:37
  Speaker 7: Usually you can just google it, like Planning and Development
• 21:40
  Speaker 7: Department or Urban Planning for whatever city you're in, and
• 21:43
  Speaker 7: it'll pull up on the website. You know, it's usually
• 21:45
  Speaker 7: a dot gov type website, and it'll have all their information.
• 21:48
  Speaker 7: A lot of us talked about the city council meetings,
• 21:51
  Speaker 7: so you can look up city council meeting minutes and
• 21:53
  Speaker 7: they'll tell you about anything big, any developer that's proposed
• 21:56
  Speaker 7: to do something in a certain area.
• 21:58
  Speaker 6: All that has to be public publicly.
• 22:01
  Speaker 7: So but what I noticed about Houston was like everything
• 22:03
  Speaker 7: was going to counterclockwise around downtown. And the fifth one
• 22:06
  Speaker 7: neighbor that I was buying it was the last quadrant.
• 22:09
  Speaker 7: So I knew eventually it was gonna come. I just
• 22:11
  Speaker 7: didn't win, you know. And so yeah, so that's how
• 22:14
  Speaker 7: I got into it. And twenty sixteen is another guy
• 22:17
  Speaker 7: started building. So then I figured it was time for
• 22:19
  Speaker 7: me to try to figure out how to get it done.
• 22:21
  Speaker 5: So what is your all? Right, So what's your philosophy
• 22:23
  Speaker 5: on gentrification? What's your how do you feel about that?
• 22:27
  Speaker 7: So gentrification has a very negative connotation in our community
• 22:33
  Speaker 7: because we are never the ones revitalizing that neighborhood. And
• 22:37
  Speaker 7: what happens is the people that are revitalizing are looking
• 22:40
  Speaker 7: out for themselves or their own groups. It's not that
• 22:42
  Speaker 7: they don't care about us, is that they have their
• 22:45
  Speaker 7: own personal agendas that that that they're moving forward.
• 22:48
  Speaker 6: And so we can either.
• 22:49
  Speaker 7: Continue to watch it happen, or we can participate, right
• 22:53
  Speaker 7: and we can participate in the way that we kind
• 22:54
  Speaker 7: of control the narrative of what's being built, who's being
• 22:58
  Speaker 7: built for, and what happens to the around the community
• 23:00
  Speaker 7: that we're building in.
• 23:02
  Speaker 3: Right.
• 23:02
  Speaker 7: So my goal with my project is, you know, most
• 23:04
  Speaker 7: of the time when you hear about black builders in
• 23:07
  Speaker 7: black neighborhoods, it's low income stuff, and I feel like
• 23:10
  Speaker 7: that's great, Like we do need to look out for
• 23:12
  Speaker 7: the low income people, but we got to attract the
• 23:15
  Speaker 7: people that were successful to the people that made it
• 23:17
  Speaker 7: out those neighborhoods to back to those neighborhoods because we
• 23:20
  Speaker 7: need that income, we need that demographic. If we ever
• 23:22
  Speaker 7: want a grocery store to come back. We can't sit
• 23:24
  Speaker 7: and depend on the government to do that. And right now,
• 23:26
  Speaker 7: what happens is the people that are successful, they go
• 23:28
  Speaker 7: and buy houses in the suburbs. Right, It's not because
• 23:31
  Speaker 7: they don't want to move back, it's because they have
• 23:33
  Speaker 7: no options. So my focus is, well, let me start
• 23:36
  Speaker 7: building some market rate stuff, not low income houses and stuff,
• 23:39
  Speaker 7: but try to attract these working professionals back to the
• 23:41
  Speaker 7: neighborhoods with a high quality product that they know they're
• 23:44
  Speaker 7: gonna pay the same price they're paying in the suburbs
• 23:46
  Speaker 7: and in the city.
• 23:47
  Speaker 6: Your value is.
• 23:48
  Speaker 7: Going to appreciate a whole lot more, especially when that
• 23:50
  Speaker 7: neighborhood starts to revitalize.
• 23:51
  Speaker 3: And that's kind of what you've done with.
• 23:52
  Speaker 4: You know, the land that you bought in twenty thirteen, right,
• 23:55
  Speaker 4: which is your the most recent development that you worked
• 23:57
  Speaker 4: on it.
• 23:57
  Speaker 3: So fourteen it's fourteen Yeah.
• 24:00
  Speaker 6: Fourteen units individual house townhouses.
• 24:02
  Speaker 3: Yeah, you want to talk me about that. How that
• 24:04
  Speaker 3: came about.
• 24:05
  Speaker 7: Yeah, So it's the same property that I bought with
• 24:07
  Speaker 7: the grocery store and everything. So twenty sixteen I decided
• 24:09
  Speaker 7: to just tear everything down when I saw there was
• 24:11
  Speaker 7: another developer that was building houses deep in the neighborhood
• 24:15
  Speaker 7: and he was selling them for two fifty.
• 24:17
  Speaker 6: Before they were complete. He wasn't even listening them on mls.
• 24:20
  Speaker 7: So I'm like, so that tells me that there's a mindset,
• 24:22
  Speaker 7: there's enough people out there are willing to save one
• 24:25
  Speaker 7: hundred thousand dollars because everything else inside the city loop
• 24:28
  Speaker 7: was like ENTI sixteen, Loop was two three fifty or
• 24:31
  Speaker 7: more so, but people would rather save that money and
• 24:36
  Speaker 7: live in a neighborhood that was still pretty rough. So
• 24:38
  Speaker 7: I was like, well, if he can do this deep
• 24:40
  Speaker 7: in the neighborhood, I'm right on the feeder to the highway,
• 24:43
  Speaker 7: you know, I got a view of downtown. I should
• 24:45
  Speaker 7: be able to do something with my property too. And
• 24:47
  Speaker 7: so that's when I decided I'm gonna move forward with
• 24:49
  Speaker 7: this initiative to try to build these townhouses. And it
• 24:52
  Speaker 7: took a lot of work. It took me building the
• 24:54
  Speaker 7: right teams. I had no idea what I was doing.
• 24:56
  Speaker 7: Goes back to what you were talking about earlier with
• 24:58
  Speaker 7: the consultant. I'd had to find the right team, the
• 25:00
  Speaker 7: right I had to find a builder that had enough
• 25:02
  Speaker 7: experience that was willing to kind of lend his knowledge
• 25:05
  Speaker 7: and time to me, of course for a fee, you know,
• 25:08
  Speaker 7: had to pay him to be my consultant, basically teach
• 25:10
  Speaker 7: me how to do the first project, but that's what
• 25:12
  Speaker 7: I did.
• 25:13
  Speaker 5: So what's the what's your plans now as far as
• 25:16
  Speaker 5: how many projects are you are you working on? Like
• 25:18
  Speaker 5: what's your what's your vision look like for the next
• 25:19
  Speaker 5: five years?
• 25:20
  Speaker 7: Next five years, I want to finish this project, which
• 25:22
  Speaker 7: you're probably finished next year, and I want to continue
• 25:25
  Speaker 7: to build the same model in the same neighborhood. I
• 25:29
  Speaker 7: kind of want to make this like a real world
• 25:31
  Speaker 7: example that can be duplicated in other cities, like we
• 25:34
  Speaker 7: can go in, we can buy the land. And I
• 25:36
  Speaker 7: didn't mentioned my entire team is from the community too,
• 25:39
  Speaker 7: so like my my builders, my real estate brokers, my
• 25:42
  Speaker 7: insurance brokers.
• 25:44
  Speaker 6: Everybody, the contractors as well contractors as well.
• 25:46
  Speaker 3: Yeah.
• 25:46
  Speaker 6: Yeah, I'm working with a black builders.
• 25:48
  Speaker 7: So and it's not just anybody's people that got good reputations,
• 25:51
  Speaker 7: but we kind of always silo ourselves and we never.
• 25:53
  Speaker 6: Really collectively work together on stuff.
• 25:55
  Speaker 7: So yeah, And the goal and the most important part
• 25:57
  Speaker 7: of all of this, whether you're flipping another industry a
• 26:01
  Speaker 7: lot of people and it's whole selling or building new construction,
• 26:04
  Speaker 7: is ensuring that you put.
• 26:06
  Speaker 6: The product in front of the right end buyer.
• 26:08
  Speaker 7: Because if you're flipping, you call yourself buying the block,
• 26:11
  Speaker 7: But if you're not watching who you're selling to on
• 26:13
  Speaker 7: the back end, you're still gentrifying the neighborhood. So my
• 26:17
  Speaker 7: goal is really to educate us on like, like I said,
• 26:19
  Speaker 7: the working professional, on why it's better for you to
• 26:21
  Speaker 7: buy over here. So I'm building the first three now,
• 26:24
  Speaker 7: got contracts on two of them. Both of them are young,
• 26:27
  Speaker 7: young black professionals, basically all in gas professionals. The townhouses, yeah,
• 26:31
  Speaker 7: I got a dentist, a black dennist from Dallas that's.
• 26:34
  Speaker 6: Looking at buying one, you know.
• 26:36
  Speaker 7: So it's all about making sure that we create that
• 26:40
  Speaker 7: model because right now that gentrification narrative is the only
• 26:44
  Speaker 7: thing that's real and for our people, we do better
• 26:49
  Speaker 7: when we see examples of something that's actually working. And
• 26:51
  Speaker 7: so when this is complete, I want to make sure
• 26:54
  Speaker 7: that this model is as much exposed as possible. It's
• 26:56
  Speaker 7: not about me making all the money. I want people
• 26:58
  Speaker 7: in other cities to do the same thing, know, to
• 27:00
  Speaker 7: say it's possible, we really can't do this.
• 27:01
  Speaker 6: And this is the example.
• 27:02
  Speaker 5: How do you evaluate, like what area you want to
• 27:04
  Speaker 5: I know you say you look at it like the
• 27:05
  Speaker 5: city plans but do you have like a set formula.
• 27:08
  Speaker 5: It's just kind of like you just know the area
• 27:10
  Speaker 5: and you just kind of have a good feeling because
• 27:11
  Speaker 5: you can't buy in some bad neighborhoods and they don't
• 27:13
  Speaker 5: get better, right, So it's like, I mean, how do
• 27:16
  Speaker 5: you know like this is this is probably going to
• 27:18
  Speaker 5: get better.
• 27:19
  Speaker 7: It's all about your network because you got to be
• 27:22
  Speaker 7: talking to people in the industry.
• 27:23
  Speaker 6: So a lot.
• 27:25
  Speaker 7: Of the realtors that I work with, they work with builders,
• 27:28
  Speaker 7: and you know, you gotta have a network of commercial
• 27:31
  Speaker 7: realtors around you too, because they know where the commercial
• 27:33
  Speaker 7: developers are looking at, what areas are looking at. So
• 27:36
  Speaker 7: it's a lot of it's word of mouth in addition
• 27:37
  Speaker 7: to what you see on the city plans, you know.
• 27:40
  Speaker 7: But yeah, you gotta have your foot in the door.
• 27:42
  Speaker 7: You got to be on the inside understanding where they're
• 27:45
  Speaker 7: moving and you just kind of ride that wave along
• 27:48
  Speaker 7: with them.
• 27:48
  Speaker 4: Yeah, a few years ago, you had one of the
• 27:50
  Speaker 4: most horrific hurricanes in United States history. What impact have
• 27:54
  Speaker 4: you seen since then on the real estate in Houston?
• 27:59
  Speaker 3: Man?
• 27:59
  Speaker 7: You know, for it was a period of time where
• 28:05
  Speaker 7: the houses in the areas that did not get flooded,
• 28:08
  Speaker 7: the values went up tremendously or they were getting bought
• 28:11
  Speaker 7: up really really quickly. I didn't see too much of
• 28:16
  Speaker 7: a negative impact. The only thing that I did see
• 28:19
  Speaker 7: is a shift in ownership where the people that didn't
• 28:22
  Speaker 7: have the proper flood insurance who lost their homes had
• 28:26
  Speaker 7: to become renters for a while, right. But at the
• 28:29
  Speaker 7: same time, the investors who had the cash on the
• 28:32
  Speaker 7: table were able to pick up a whole bunch of
• 28:33
  Speaker 7: properties for a lot less than what the values were.
• 28:38
  Speaker 7: Anything under like two hundred thousand dollars was still selling
• 28:40
  Speaker 7: as it was rehabbed, but anything above that two hundred
• 28:43
  Speaker 7: thousand dollars mark, a lot of it sat on the market,
• 28:46
  Speaker 7: a lot of it's still here now. We had a
• 28:47
  Speaker 7: lot of out of town investors that bought that thought
• 28:50
  Speaker 7: that they could buy these flood houses and flip them
• 28:52
  Speaker 7: and sell them really quickly. But the people in those
• 28:54
  Speaker 7: price points were not comfortable, you know, setting up their
• 28:57
  Speaker 7: homestead again in an area that just flooded like that.
• 29:00
  Speaker 5: So so, what is what's your outlook for for for Houston?
• 29:03
  Speaker 5: For anybody that's interested in and maybe coming in and
• 29:05
  Speaker 5: investing Optimistic for.
• 29:07
  Speaker 6: The city very optimistic man Houston.
• 29:10
  Speaker 7: On the next census, they're gonna announce that Houston is
• 29:12
  Speaker 7: now larger than Chicago, so it's gonna be the.
• 29:13
  Speaker 6: Number three, it's gonna be the third largest city.
• 29:16
  Speaker 7: Yeah, and Houston was least hit by the recession because
• 29:19
  Speaker 7: we didn't have the big inflation and home prices that
• 29:21
  Speaker 7: other markets had. When you look at like international investment
• 29:25
  Speaker 7: as far as real estate in the United States, Houston
• 29:27
  Speaker 7: is number one where it's coming from.
• 29:29
  Speaker 6: China, Australia, Nigeria, anywhere.
• 29:32
  Speaker 7: Basically they invest here because if you're looking at the
• 29:35
  Speaker 7: three or four biggest cities, the real estate is still
• 29:38
  Speaker 7: cheaper here, like I said, and the economy was not
• 29:40
  Speaker 7: hurt as much as the other big markets by the recession,
• 29:42
  Speaker 7: so it's the safest bet.
• 29:44
  Speaker 6: Not only that, but you got more people moving to.
• 29:46
  Speaker 7: Texas every year, and like I said, Houston is rapidly growing,
• 29:50
  Speaker 7: so that the real estate.
• 29:51
  Speaker 6: Outlook is strong for this market.
• 29:54
  Speaker 7: I mean, that's two things that I believe are kind
• 29:57
  Speaker 7: of the wave of the future for investment.
• 29:58
  Speaker 6: It's either tech or is real estate.
• 30:00
  Speaker 7: Because no matter how as technology will advance and replace
• 30:03
  Speaker 7: people in jobs, but people always have to have a.
• 30:06
  Speaker 6: Place to live. I mean, it's never gonna change.
• 30:08
  Speaker 5: And I think it's the biggest city land wise.
• 30:11
  Speaker 3: Yeah, yeah, it is. It is.
• 30:13
  Speaker 5: Yeah, it's a lot more room for it to be developed.
• 30:15
  Speaker 3: It is.
• 30:15
  Speaker 7: It is, And what it is is like as it's
• 30:17
  Speaker 7: spreading out and it's consuming all the smaller towns around
• 30:20
  Speaker 7: it and they're all merging into one big municipality.
• 30:23
  Speaker 4: You think part of that that population increase is due
• 30:26
  Speaker 4: to the influx of people who were misplaced after Hurricane
• 30:29
  Speaker 4: Katrina or.
• 30:31
  Speaker 6: I mean we saw a wave of that, but I
• 30:33
  Speaker 6: mean a lot of it. No, it's just business. It's
• 30:35
  Speaker 6: just it's just it's attractive.
• 30:36
  Speaker 3: You know.
• 30:37
  Speaker 7: You got a lot of people that move from high
• 30:39
  Speaker 7: high real estate markets like California. They're the o their
• 30:41
  Speaker 7: house out here, and you know, it could be a regular,
• 30:44
  Speaker 7: regular eighteen hundred square foot house in California, they sell
• 30:47
  Speaker 7: it for one point two million, come out here and
• 30:48
  Speaker 7: by a mansion.
• 30:50
  Speaker 3: You know.
• 30:50
  Speaker 7: So a lot of people transition down here because just
• 30:52
  Speaker 7: the cost of living is cheaper.
• 30:53
  Speaker 3: Yeah.
• 30:54
  Speaker 5: Sure, So, thank you man, thank you for rocking with us.
• 31:00
  Speaker 6: My graduates from my school being forced.
• 31:03
  Speaker 1: Bad drop bag, drop my drop bag, drop bag drops.
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