Latest / Motion and Success / She Quit Her Lawyer Job & Built An $11M Real Estate Portfolio With ZERO Dollars Down! Ft. Cindy West

Transcript

She Quit Her Lawyer Job & Built An $11M Real Estate Portfolio With ZERO Dollars Down! Ft. Cindy West · Motion and Success

• 0:00
  [SPEAKER_00]: got the six-figure salary, but I'm still stuck.
• 0:02
  [SPEAKER_00]: A lot of people, even if you're making six figures, let's be honest.
• 0:05
  [SPEAKER_00]: You're really only making 60% of that amount because the rest of one of taxes.
• 0:08
  [SPEAKER_00]: My salary was about $220,000.
• 0:11
  [SPEAKER_00]: I actually walked it with $140,000 every single year.
• 0:13
  [SPEAKER_00]: When you flip a property, you only get paid once.
• 0:15
  [SPEAKER_00]: You get paid when you flip it, and you never see money coming from that property again.
• 0:19
  [SPEAKER_00]: You're credit, your income is irrelevant.
• 0:21
  [SPEAKER_00]: Is the property, in fact, profitable.
• 0:23
  [SPEAKER_00]: You're actually able to pull tax from money out of the deal itself within a six-hand I'm a period.
• 0:28
  [SPEAKER_01]: At what point did you say, like, you know, I'm out this job.
• 0:31
  [SPEAKER_00]: Two weeks into the job, I absolutely hated it.
• 0:33
  [SPEAKER_00]: People yelling at me, making me feel like you're nobody.
• 0:35
  [SPEAKER_00]: I mean, they really just break you down then.
• 0:37
  [SPEAKER_00]: So me, my mom, I've been cleaning houses for almost 33, 34 years at that point.
• 0:42
  [SPEAKER_00]: She was tired, she was through five years old and I was like, I gotta take care of her before I go ahead and retire myself.
• 0:47
  [SPEAKER_00]: I had no money.
• 0:47
  [SPEAKER_00]: So when I started, I literally had $4,000 saved up when I refinanced out of these deals.
• 0:52
  [SPEAKER_00]: They're not 20,000 pages, 30,000 bar pages, or 100,000 bar pages, 150,000 bar pages.
• 0:58
  [SPEAKER_00]: And I still own the property, and I can still make money every single month.
• 1:01
  [SPEAKER_00]: I own 80 rentals, I own $11 million in real estate.
• 1:04
  [SPEAKER_03]: What's the overall system to be able to get your first real estate property under the first strategy?
• 1:10
  [SPEAKER_00]: Yeah, so the first step is you got to...
• 1:14
  [SPEAKER_01]: Before we get into this amazing episode, I'm calling all business owners, coaches, entrepreneurs who got a great product or service, but guess what, you're having a hard time selling it, you aren't getting any leads, your calendar is dried up, podcasting is the tool you need, it's a 24-7 organic lead machine that you need to have in your business.
• 1:34
  [SPEAKER_02]: Absolutely, having a marketing plan, some kind of way on how to find your clients within your business is the most important way on how you're going to be able to grow and hit all your financial goals, whether your goal is 100,000 dollars.
• 1:46
  [SPEAKER_02]: Well, there you go, it's $500,000 or even a million dollars plus you need more eyeballs.
• 1:51
  [SPEAKER_02]: A lot of people are finding that adds a way too expensive for their budget.
• 1:55
  [SPEAKER_02]: Also, another problem is a lot of people are over relying on other people to grow their business.
• 2:02
  [SPEAKER_02]: So I'm talking about word or mouth from referrals.
• 2:05
  [SPEAKER_02]: Those are not reliable strategies on how you're going to grow your business.
• 2:08
  [SPEAKER_02]: If you want to learn exactly how to market your business and be seen by millions of top of millions of people, go ahead and click the link down below.
• 2:15
  [SPEAKER_02]: I want to invite you guys to our masterclass where we're showing you strategies on how we was able to grow a huge platform within less than two years with over 300,000 plus followers across all channels.
• 2:27
  [SPEAKER_02]: If you're looking to learn how to market your business and be seen by your dream clients, join us in this masterclass and enjoy the rest of this episode because this one is going to be a banker.
• 2:35
  [SPEAKER_03]: Alright y'all, so welcome back to another episode of Motionist Success y'all.
• 2:39
  [SPEAKER_02]: My name is Cody Brown and I got my co-hosts with me.
• 2:41
  [SPEAKER_01]: It's Iowa and look man, we back with another amazing episode.
• 2:44
  [SPEAKER_01]: I'm really excited for this one.
• 2:46
  [SPEAKER_02]: I agree, so listen today, we have another special guest for you guys.
• 2:50
  [SPEAKER_02]: We're going to be interviewing Sydney West, and she has an remarkable story.
• 2:54
  [SPEAKER_02]: She went from having a Viction notices on her door to now owning multiple properties worth millions of dollars.
• 3:00
  [SPEAKER_02]: She's a former USA, she's a former US Army veteran, turned attorney, turned real estate investor with an $11 million portfolio.
• 3:10
  [SPEAKER_02]: Let's hear today exactly how she's able to take that transformation.
• 3:13
  [SPEAKER_02]: and how she's helping others do the same.
• 3:16
  [SPEAKER_02]: So without further ado, we'll go ahead and introduce our guests for today.
• 3:20
  [SPEAKER_03]: Sydney, go ahead, tell the people who you are and we can get started from there.
• 3:24
  [SPEAKER_00]: Absolutely, no.
• 3:25
  [SPEAKER_00]: First, I'm extremely appreciative to even be here.
• 3:28
  [SPEAKER_00]: A little bit about me.
• 3:29
  [SPEAKER_00]: I currently live in Charlotte, North Carolina.
• 3:32
  [SPEAKER_00]: I'm a US Army veteran turned attorney, retired attorney now, real estate investor, building up a portfolio of apartment buildings in the Charlotte market.
• 3:42
  [SPEAKER_00]: Been doing this now full time for two years now.
• 3:45
  [SPEAKER_00]: Definitely didn't start this way whatsoever.
• 3:47
  [SPEAKER_00]: I come from a background where I was raised by a single mom, undocumented, or Colombian, migrated to the States, lived in Florida.
• 3:56
  [SPEAKER_00]: I grew up, I was born and raised in Florida.
• 3:59
  [SPEAKER_00]: saw the struggle to say the least, but probably like a lot of successful people, you realize that the situation that you're born into doesn't define where you're gonna end at, and I was eight years old when I actually said I'm a millionaire.
• 4:11
  [SPEAKER_00]: Take me until I got to 29 years old to actually do it, but I did it, and so I'm excited to share more of my journey and how I got there, so I think we can do the same thing.
• 4:20
  [SPEAKER_03]: That's good, that's good stuff, yeah.
• 4:22
  [SPEAKER_01]: I'm definitely excited to jump into it, you know, before we even jump into the real estate, the millions, like, what kind of, like, how was life growing up and, like, what drew you into one and a be a lawyer?
• 4:36
  [SPEAKER_01]: Like, that's a real unique backstory.
• 4:38
  [SPEAKER_00]: To be honest with you, the environment that I grew up in, my mom cleaned houses.
• 4:44
  [SPEAKER_00]: So she worked incredibly hard.
• 4:46
  [SPEAKER_00]: She cleaned about two to three houses, but for very wealthy people in South Florida.
• 4:50
  [SPEAKER_00]: And I would be in those environments, and I saw that they were doctors, they were lawyers, they were business owners.
• 4:56
  [SPEAKER_00]: And so I immediately thought, I'm gonna do one of these things.
• 4:59
  [SPEAKER_00]: I hate it science, so met school of dental schools out of the picture.
• 5:02
  [SPEAKER_00]: But I was like, you know what, I should be probably a lawyer, because if I become a lawyer, I could have this stuff alive, so I could have a home, I could have my own bedroom.
• 5:10
  [SPEAKER_00]: My kids might have their own bedrooms.
• 5:11
  [SPEAKER_00]: And so that was kind of the inspiration behind it.
• 5:14
  [SPEAKER_00]: I'm super appreciative for the way that I grew up because I didn't grow up seeing money in my household or in my neighborhood.
• 5:20
  [SPEAKER_00]: But I saw it in my mom's work and saw as inspired.
• 5:22
  [SPEAKER_00]: I was like I might not see where I'm at But I see the other people are doing it and when I found out a lot of them had gone to college I had a graduate degree and that's how they were but I have that type of lifestyle that I wanted to have
• 5:32
  [SPEAKER_01]: Nice.
• 5:33
  [SPEAKER_01]: That's good.
• 5:34
  [SPEAKER_01]: And like when you when you like going through the school and process because it is real rigorous, you know what I mean like you can't just say like nobody sets on say like hey I just want to be a lawyer just because of money like you they put you through a whole lot for you to get to that finish line.
• 5:50
  [SPEAKER_01]: So like
• 5:52
  [SPEAKER_01]: What was like the real motivation for you like, did you see yourself saying, hey, I'm gonna do this for some time, or did you end up working as a lawyer and then you kind of seen the reality of it and it kind of like, change your whole mind.
• 6:05
  [SPEAKER_00]: I would say it was a little bit of both because when I was 18 years old, I read book coverage that part of it so I read rich that part and I immediately knew that I wanted to get into real estate at some point in my life.
• 6:15
  [SPEAKER_00]: And so I kind of went down this road of one of college going to law school with the mindset of, I'm going to get to a point where I'm going to make enough money.
• 6:21
  [SPEAKER_00]: I can save money and that can invest.
• 6:23
  [SPEAKER_00]: I'll be going to buy that my time.
• 6:25
  [SPEAKER_00]: I want the trick of my time for money and I realized that
• 6:29
  [SPEAKER_00]: I could stack up some bread, I cut it to this, and at that time, I didn't know the strategy of the verse.
• 6:35
  [SPEAKER_00]: So in a month, I was like, I'll be alive about 10, 15 years, all from there, I'll be able to have a good chunk of change, I'll invest it, but what really happened was, I went, I became a lawyer.
• 6:46
  [SPEAKER_00]: two weeks into the job.
• 6:47
  [SPEAKER_00]: I absolutely hated it.
• 6:48
  [SPEAKER_00]: I thought everybody was crazy because I'm coming from now a military background where it is a job, but it's a job that everybody around you are usually loves and the law from environment, that's not the case.
• 7:00
  [SPEAKER_00]: Everybody hates Mondays, they hate their job, they're spending more time at work than with their kids.
• 7:07
  [SPEAKER_00]: You're working on Christmas day.
• 7:08
  [SPEAKER_00]: I worked on Christmas day, missed lots of family events, even though it was unlimited PTO, you learn to find out you're you're really getting no PTO because they don't let you take time off and I was like this can't be lie and I was 27 years old and I was like I'm not going to leave the rest of my 20s in this environment and I was like I got to figure this thing out much quicker.
• 7:29
  [SPEAKER_00]: I don't have 10, 15 years.
• 7:31
  [SPEAKER_00]: I'm going to only work here for two years and that was my goal.
• 7:36
  [SPEAKER_01]: how did you kind of cause most of the time when people are working these high income jobs?
• 7:41
  [SPEAKER_01]: Reality is most of them do hate their jobs.
• 7:44
  [SPEAKER_01]: You can see it the way they act.
• 7:46
  [SPEAKER_01]: You know, you can really tell that they're real miserable.
• 7:48
  [SPEAKER_01]: So like how did you kind of protect yourself from falling into that trap?
• 7:53
  [SPEAKER_01]: Because you know, you earn a high income salary.
• 7:57
  [SPEAKER_01]: It's so easy to upgrade your lifestyle and then, you know, pretty much being a rat race and that's what majority of people are in Like so you came in with that mindset of hey like I'm only gonna be here I'm gonna stack my bread like is that kind of how you looked at it?
• 8:12
  [SPEAKER_00]: Yeah, absolutely.
• 8:13
  [SPEAKER_00]: I had the goal in mind that I wanted to quit my job in two years.
• 8:15
  [SPEAKER_00]: And so I knew I was going to have to lay low, sacrifice for that time, not elevate my life.
• 8:19
  [SPEAKER_00]: So I saw my friends that were lawyers, they went, they bought the bends, they bought the BMW, they got the high rise of Parliament, and what did I do instead?
• 8:27
  [SPEAKER_00]: I started looking into North Carolina to invest.
• 8:29
  [SPEAKER_00]: I was living in Washington DC at the time, which was very expensive.
• 8:32
  [SPEAKER_00]: So what did I do?
• 8:34
  [SPEAKER_00]: I even lowered my cost even more of living.
• 8:36
  [SPEAKER_00]: And so I asked my law for my say, what do you think if I won't promote me, I have no Carolina?
• 8:39
  [SPEAKER_00]: They said, yeah, go ahead.
• 8:40
  [SPEAKER_00]: Say, great.
• 8:42
  [SPEAKER_00]: I moved to North Carolina.
• 8:43
  [SPEAKER_00]: I live in a one bedroom apartment.
• 8:44
  [SPEAKER_00]: I paid $1,500 a month.
• 8:45
  [SPEAKER_00]: Now, I'm making six figures because I have a salary based off a DC.
• 8:49
  [SPEAKER_00]: But I'm saving a lot of money in my housing and so I can stack my bread and keep on more rental properties.
• 8:54
  [SPEAKER_00]: And I knew that by doing that, I wasn't in fact going to get out within two years because I knew.
• 8:59
  [SPEAKER_00]: The reality is, a lot of people, even if you're making six figures, let's be honest, you're really only making 60% of that amount because the rest is going to tax this.
• 9:07
  [SPEAKER_00]: So on paper, you're really not out here bawling the way that your salary says that you are, your salary might be, I'll be honest, my salary was about $220,000.
• 9:18
  [SPEAKER_00]: I actually walked it with $140,000 every single year.
• 9:20
  [SPEAKER_00]: Well, that's a lot of
• 9:23
  [SPEAKER_03]: That's a lot of money going where to taxes.
• 9:26
  [SPEAKER_00]: Taxes.
• 9:27
  [SPEAKER_00]: Almost 35% close to 40% in taxes.
• 9:31
  [SPEAKER_00]: So when I realized that I was like, well, first of all, I can't have the lifestyle that I was going to have.
• 9:37
  [SPEAKER_00]: And second of all, let me figure out how to make it work with what I got.
• 9:40
  [SPEAKER_00]: But here's what I realized.
• 9:41
  [SPEAKER_00]: If my goal was to retire in two years, I did the math.
• 9:45
  [SPEAKER_00]: I was like, if I want to retire, make $10,000, I got to buy 40 worth of properties.
• 9:49
  [SPEAKER_00]: Because 40 worth of properties would generate about $10,000 a month and monthly cash will.
• 9:54
  [SPEAKER_00]: I did the math even with the $140,000 a year.
• 9:57
  [SPEAKER_00]: I was like, I cannot save enough money to go out and buy multiple properties.
• 10:00
  [SPEAKER_00]: and do that within two years.
• 10:02
  [SPEAKER_00]: So I was like, dang, yeah, I got the six figure salary.
• 10:04
  [SPEAKER_00]: But I'm still stuck because I can't get out of this position unless I get more money or I figure something out.
• 10:11
  [SPEAKER_00]: And that's when the Versailles, you came into play.
• 10:13
  [SPEAKER_01]: Sorry to break this amazing episode.
• 10:15
  [SPEAKER_01]: I just have to let you guys know the...
• 10:17
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• 10:20
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• 10:23
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• 10:28
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• 10:32
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• 10:38
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• 10:39
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• 10:47
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• 10:57
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• 11:02
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• 11:18
  [SPEAKER_02]: Go ahead and click the link down below, and I'm going to see you guys in that next masterclass.
• 11:23
  [SPEAKER_03]: Wow, that's that's that's that's very interesting.
• 11:25
  [SPEAKER_03]: You know like the backstory on how you guys started because you know a lot of times There's people usually may say hey listen already went to school already spent so much money on college.
• 11:34
  [SPEAKER_03]: I already spent so much money Just to get where I'm at.
• 11:38
  [SPEAKER_03]: I'm grateful
• 11:39
  [SPEAKER_03]: you know I'm just grateful just to be here like compared to the rest I'm doing well you know what I mean and some people would say hey listen I already went to school I'm not going back to school for another degree I'm not starting anything new I already spent so much time you know so that's very interesting that that was the kind of mindset that you had you know when you started your career and then fast forward to actually start investing into real estate so that's very good
• 12:05
  [SPEAKER_01]: I do want to I do want to actually to where did the military coming to play in this part because we didn't touch on that side too like what was I get those but you know headed into getting into the military like.
• 12:16
  [SPEAKER_00]: I would say it was the best opportunity I got.
• 12:19
  [SPEAKER_00]: I was 17 years old.
• 12:20
  [SPEAKER_00]: I come from poverty, basically.
• 12:23
  [SPEAKER_00]: Didn't see anybody around me going to college.
• 12:25
  [SPEAKER_00]: Having a certain type of lifestyle.
• 12:26
  [SPEAKER_00]: And I wanted to go to college, but at the time, because my mother was undocumented and Florida, I wasn't able even to go to college and use fast for.
• 12:34
  [SPEAKER_00]: So I was now a technically bulk that I go to college.
• 12:38
  [SPEAKER_00]: and that was going to be my way out and so what do we all know you can go to you can go to the army the pay for your college free and so I was like all right there I'm going to college yeah well before they're at just I go to the army first yeah we did you have any fear like signing up for the army like like you know just you know how America kind of gets this was like you never know what you'd ever know
• 12:59
  [SPEAKER_00]: think I did.
• 13:00
  [SPEAKER_00]: I think my mom probably had more fear.
• 13:02
  [SPEAKER_00]: I think I was just more so excited.
• 13:03
  [SPEAKER_00]: Like, this is my way out.
• 13:05
  [SPEAKER_00]: And honestly, it was a best experience of my life because it taught me to be disciplined and not motivated.
• 13:12
  [SPEAKER_00]: And a lot of people like discipline.
• 13:13
  [SPEAKER_00]: And so I think I'm a very disciplined person now that's the military because I learned how to do it basically hard stuff when I don't feel like doing it when I don't want to do it.
• 13:22
  [SPEAKER_00]: And that taught me that.
• 13:23
  [SPEAKER_03]: Yeah, you know, it's crazy like I feel like every high school in America at this point.
• 13:28
  [SPEAKER_03]: Usually, I always have a army recruiter, a Marine recruiter, so life from the U.S. Reus Marines or Navy, with a nice little table, you know, they fly hey, listen.
• 13:40
  [SPEAKER_03]: You get the free college, you get this, you get that, and then, you know, this is the easiest way.
• 13:44
  [SPEAKER_03]: And then there's people that do take it and they do well.
• 13:47
  [SPEAKER_00]: Yeah, they tell you they're like yelling your face out for the morning.
• 13:50
  [SPEAKER_00]: They don't tell you that part.
• 13:53
  [SPEAKER_03]: I mean, that sounds funky thing at this point.
• 13:56
  [SPEAKER_03]: You got to prepare yourself for that one.
• 13:57
  [SPEAKER_00]: Yeah, endless push-ups, the workouts, people yelling at you, making you feel like you're nobody.
• 14:04
  [SPEAKER_00]: I mean, they really just break you down mentally.
• 14:06
  [SPEAKER_03]: Yeah.
• 14:07
  [SPEAKER_00]: But that kind of break down is that you love for so much success in life, because you can't tell me a single thing that's going to hurt my feelings.
• 14:13
  [SPEAKER_00]: Yeah.
• 14:13
  [SPEAKER_00]: I've had a worst days.
• 14:14
  [SPEAKER_03]: Yeah.
• 14:15
  [SPEAKER_03]: And I feel like I kind of can see, you know, just by doing the research, you know, the journey and the, like, from going from the army to going to school, going to college for seven years to, you know, building a million dollar plus real estate portfolio and growing, you know, and I'm like, in my head, I'm like, she lives so many different lives.
• 14:38
  [SPEAKER_03]: and a span of 10 years like you know because like it's not easy to be able to go out there and do these kind of things like it takes years for some people to get the success that you got you know so that's good yeah that's so true I want to actually like
• 14:54
  [SPEAKER_01]: You were working as a lawyer, you know, he was in the military.
• 14:58
  [SPEAKER_01]: At what point did you say, like, you know, I'm out this job, like, when was like your last day?
• 15:03
  [SPEAKER_01]: And when did you fully transition into real estate?
• 15:06
  [SPEAKER_00]: So I fully transitioned 26 months.
• 15:10
  [SPEAKER_00]: after being a lawyer.
• 15:12
  [SPEAKER_00]: So my goal was always to retire my mom first.
• 15:15
  [SPEAKER_00]: I was there to retire her at a 24-month mark.
• 15:18
  [SPEAKER_00]: But investing in your real estate and being a lawyer in two months after that, I said, you know, I'm going to quit my job.
• 15:22
  [SPEAKER_00]: Then I'm going to go all in a real estate.
• 15:25
  [SPEAKER_00]: At that point, I had a portfolio of about 38, 40 rental properties that had stacked up in the last years.
• 15:30
  [SPEAKER_00]: And so I was in a position there.
• 15:31
  [SPEAKER_00]: We also had cash flowing properties paying the every single month, not only for my life sign-up, but also for my mom's.
• 15:37
  [SPEAKER_00]: because I was one of three times my mom.
• 15:38
  [SPEAKER_00]: My mom had been cleaning houses for almost 33, 34 years at that point.
• 15:41
  [SPEAKER_00]: She was tired.
• 15:42
  [SPEAKER_00]: She was 55 years old and I was like, I gotta take care of her before I go ahead and retire myself.
• 15:47
  [SPEAKER_00]: At the end of the day, I think it's a very, I don't know what to say, maybe perhaps an entitle position for me to be 27 years old and say I want to retire.
• 15:54
  [SPEAKER_00]: I'm tired of this.
• 15:55
  [SPEAKER_00]: And so before I do that thought that I was important to stick to what I was to my mom, which was I'm going to retire to form 30 years old.
• 16:00
  [SPEAKER_00]: And so I took care of her with the rental properties, and then I went ahead and did that leap of faith two months after that When all in all real estate that was in September of 2024.
• 16:07
  [SPEAKER_01]: Wow That's so you said you had a poor 40 like 38 40 properties.
• 16:15
  [SPEAKER_01]: How were you?
• 16:16
  [SPEAKER_00]: finance in these properties are like how are you like where you buy them all all right cash or use the most of your liquid like how are you getting these properties I had no money so when I started I literally had $4,000 saved up because I had been attorney for about two months no tax returns because I had been school now for the last four years of my life practically
• 16:34
  [SPEAKER_00]: So no tax returns, no paystubs, I could show on paper how much I was making, didn't have a lot of money save up.
• 16:39
  [SPEAKER_00]: I went ahead and saw our leveraging asset base lenders.
• 16:42
  [SPEAKER_00]: Why?
• 16:43
  [SPEAKER_00]: Because for those types of loans, they'll go ahead and qualify to prove those loans based up the property itself and they'll give you 100% of them way to buy them and 100% of them way to renovate them.
• 16:52
  [SPEAKER_00]: So I quickly realized that if I wanted to go ahead and retire within 24 months like my goal was.
• 16:57
  [SPEAKER_00]: In order to do that, I've already realized that I don't have the money, and so I've got to leverage somebody else's money.
• 17:02
  [SPEAKER_00]: And these learners are out there.
• 17:03
  [SPEAKER_00]: They're giving you all the money to go and buy the property.
• 17:05
  [SPEAKER_00]: So I said, you know what, let me go that route.
• 17:06
  [SPEAKER_00]: Let me leverage them and sure enough I bought my first property in January of 2023 within that first year about eight properties.
• 17:13
  [SPEAKER_01]: Wow.
• 17:14
  [SPEAKER_01]: How does it, how does acid baits land and where you could just break that down?
• 17:17
  [SPEAKER_00]: Yeah, so the way that acid-based lending works is that they will qualify and approve a property loan and investment loan based off the property itself.
• 17:25
  [SPEAKER_00]: And they're going to give you the maximum amount of leverage.
• 17:27
  [SPEAKER_00]: So what do I mean by that?
• 17:28
  [SPEAKER_00]: When I tell you that they're going to qualify and approve a loan based off the property, it means that you not personally qualify 40 steps of loans.
• 17:35
  [SPEAKER_00]: Your credit, your income is irrelevant, space of is the property in fact profitable.
• 17:40
  [SPEAKER_00]: If it is, the go ahead and give you all the money to buy it to renovate it.
• 17:44
  [SPEAKER_03]: Is it, I mean, does that mean that the interest rate would be super crazy high to the point where you can't make money as an investor at that point?
• 17:53
  [SPEAKER_00]: No, it's not.
• 17:53
  [SPEAKER_00]: So it is high.
• 17:55
  [SPEAKER_00]: Yeah.
• 17:55
  [SPEAKER_00]: So it's a 10 to 13% interest rate, your first year.
• 17:59
  [SPEAKER_00]: Now the loan is only for 12 months.
• 18:01
  [SPEAKER_00]: So you gotta figure out how you get out of the loan once you buy the property with the step alone.
• 18:05
  [SPEAKER_00]: What most people do?
• 18:06
  [SPEAKER_00]: Most will use the steps of loans to do fix-in flips.
• 18:09
  [SPEAKER_00]: So how do you get out of a loan within a year?
• 18:10
  [SPEAKER_00]: You flip it the second way is to do the birth Ragee, which is how do you get out of this loan that's only for a year?
• 18:15
  [SPEAKER_00]: You refinance with a DSCR lender now So because you bought a property that is profitable you now have equity in it and you have the ability to refinance So then you refinance out of that loan and now you have a 30-year mortgage on the property That's good.
• 18:30
  [SPEAKER_01]: That's really good.
• 18:31
  [SPEAKER_01]: So now you'll pay it back and then
• 18:33
  [SPEAKER_03]: I don't pay back my 10th piece of back.
• 18:37
  [SPEAKER_00]: That's how you make money real estate, right?
• 18:39
  [SPEAKER_00]: Monthly casual, and then you're 10th and it pays off your mortgage balance every single month.
• 18:42
  [SPEAKER_03]: Wow.
• 18:43
  [SPEAKER_03]: And then, like, talk to me about the burst strategy, like, what is that?
• 18:47
  [SPEAKER_03]: Because you hear fix a flip all the time, you hear Airbnb, arbitrage, you hear about, you know, all kinds of different real estate methods, but nobody's really talking about burr.
• 18:58
  [SPEAKER_03]: What is burr?
• 19:00
  [SPEAKER_00]: The Burr strategy is the best way to scale up a portfolio and to get paid three times in real estate.
• 19:06
  [SPEAKER_00]: Why?
• 19:07
  [SPEAKER_00]: The Burr strategy is since for this, you buy property, you rehab it, right?
• 19:10
  [SPEAKER_00]: You renovate it, you rent it out, then you refinance.
• 19:13
  [SPEAKER_00]: Once again, you leverage asset base lenders to give you all the way to buy them and to renovate the property.
• 19:18
  [SPEAKER_00]: A lot of people don't talk about this, but the reality is when you flip a property, you only get paid once you get paid when you flip it.
• 19:23
  [SPEAKER_00]: and you never see money coming from that property again.
• 19:25
  [SPEAKER_00]: When you do the burst strategy and you leverage it to go ahead and buy rental properties, you'll have the ability to not use any of your money to buy rental property.
• 19:33
  [SPEAKER_00]: Now you own a rental property that pays you every single month.
• 19:36
  [SPEAKER_00]: Again, you have the tenant paying your mortgage every single month, so you're building equity in the deal.
• 19:40
  [SPEAKER_00]: And if you do a refinance, you're actually able to pull tax through money out of the deal itself within a six and a month period.
• 19:47
  [SPEAKER_00]: So you get your first payday within six and a month when you refinance and you pull some equity out.
• 19:51
  [SPEAKER_00]: your second payday is your monthly cash will and then your third is that the 10 is paying down that loan so what happens in 10 20 years they've paid off 30 60 percent of the loan that you took out and now you've got way more equity in the property and you can sell it you can do whatever you want with it.
• 20:07
  [SPEAKER_03]: Wow.
• 20:08
  [SPEAKER_03]: now i could actually see why you know that kind of makes sense you know depending on what kind of game that you're playing especially you know because like some people like i i you know you've heard the wholesale you've heard the fix and flip like we've heard you know at this point like land banks all kinds of things but
• 20:25
  [SPEAKER_03]: like this or even you know affordable housing.
• 20:28
  [SPEAKER_03]: So this one is just another method that it sounds like it's way better because you don't have to have any kind of money or any kind of thing You know any kind of money to put into this property and you can still get paid every single month and years and years to move on
• 20:44
  [SPEAKER_00]: And you have the ability, I always tell you, you have the ability to be rich and wealthy in the strategy.
• 20:48
  [SPEAKER_00]: Rich is what?
• 20:49
  [SPEAKER_00]: Monthly income, that's coming in.
• 20:51
  [SPEAKER_00]: Walthy is long-term wealth.
• 20:52
  [SPEAKER_00]: That you build up islanding these properties.
• 20:54
  [SPEAKER_00]: And so the way I see it is, I want it to not only be rich.
• 20:57
  [SPEAKER_00]: I want it a high income on a monthly basis, but I also want to set myself up for success.
• 21:02
  [SPEAKER_00]: So that in five, seven, 10 years, my 10 million dollar portfolio, 11 million dollar portfolio today, will be worth way more in 10, 20 years.
• 21:11
  [SPEAKER_00]: And I look at it as a business as well.
• 21:13
  [SPEAKER_00]: So if I wanted to get to a point in 10, 20 years that I want to sell my portfolio, and I want to walk away now with $10, $15 million.
• 21:20
  [SPEAKER_00]: And I can look back and say, you know what?
• 21:21
  [SPEAKER_00]: For the last 10, 15 years, I still made money every single month.
• 21:24
  [SPEAKER_00]: I'm so pretty to position to be in.
• 21:25
  [SPEAKER_03]: It definitely is.
• 21:27
  [SPEAKER_03]: It definitely is.
• 21:29
  [SPEAKER_01]: And the way you kind of broke down the burst strategy is this like how you're portfolio grew so fast, being that you know now you could refinance and then get another property like is that how you were doing it.
• 21:39
  [SPEAKER_00]: Heck yeah, so I never knew the 100% find I think existed.
• 21:42
  [SPEAKER_00]: So when I found out about it, I started buying houses.
• 21:44
  [SPEAKER_00]: So my first year about the eight houses from there, I realized that if I really wanted to stir it up a notch, basically, and would make way more money, I had to get into the small multi-family world, which is a duplexes of tripletes.
• 21:55
  [SPEAKER_00]: So then I started doing the burger on those have the properties.
• 21:58
  [SPEAKER_00]: And then last year bought about 45 units because I then got into a apartment complexes.
• 22:03
  [SPEAKER_00]: So I started buying six unit buildings, 10 unit buildings, 16 unit buildings.
• 22:07
  [SPEAKER_00]: And now I really just focus on doing that, using the brush edge because now I'm like, if I can get all the money to go ahead and buy these properties, why not just go out find these properties, the banks can give you the way to buy them.
• 22:17
  [SPEAKER_00]: And now I own these cashflow and assets that pay me every single month.
• 22:20
  [SPEAKER_00]: And on top of that, the refinance is now when you're in the multi-family sector.
• 22:24
  [SPEAKER_00]: They're six figure pay days.
• 22:25
  [SPEAKER_00]: So when I refinance out of these deals, they're not 20,000 pay days, 30,000 bar pay days, you're 100,000 bar pay days, you're 100,000 bar pay days, a hundred, 50,000 bar pay days.
• 22:34
  [SPEAKER_00]: And I still own the property and I can still make money every single one.
• 22:37
  [SPEAKER_00]: So that's all I focus on now.
• 22:39
  [SPEAKER_01]: A lot of people they go out and they think that they could do the burst strategy on their own.
• 22:43
  [SPEAKER_01]: And it's not as easy as it sounds as not that easy.
• 22:48
  [SPEAKER_01]: How do you prevent yourself from being over leveraged, like putting yourself in a position where, you know, because a lot of people who they, especially with a strategy like that, they could really end up putting themselves in a real deep hole.
• 23:00
  [SPEAKER_01]: So like, what is like the math and things that you do to avoid putting yourself in that type of situation?
• 23:06
  [SPEAKER_00]: So technically, a lender will give you up to 80% of a property's value towards the property.
• 23:12
  [SPEAKER_00]: I recommend you want to be 70% all in.
• 23:16
  [SPEAKER_00]: You don't want to reach that maximum amount.
• 23:19
  [SPEAKER_00]: Instead, you want to play it a little bit more conservative.
• 23:21
  [SPEAKER_00]: Because in the event that something changes something shifts in the market, you still have a 10% margin there where you can actually be safe from that.
• 23:28
  [SPEAKER_00]: And on top of that, I would say that the reality is,
• 23:31
  [SPEAKER_00]: It takes a team.
• 23:32
  [SPEAKER_00]: So as much as I can be here and say, yeah, I own 80 rentals, I own $11 million a real estate.
• 23:37
  [SPEAKER_00]: How do I protect myself?
• 23:38
  [SPEAKER_00]: I've got people and now I'm positions that are experts at what they do.
• 23:42
  [SPEAKER_00]: So I'm in business now with my brother, my brother is a general contractor, he's licensed.
• 23:46
  [SPEAKER_00]: So what does he do?
• 23:46
  [SPEAKER_00]: He's incredibly well managing our renovation projects.
• 23:49
  [SPEAKER_00]: I'm mostly focused on acquisition.
• 23:51
  [SPEAKER_00]: Now we have a property manager that helps us to self-manage our properties.
• 23:56
  [SPEAKER_00]: they're an expert in that field and they make sure that tenants are in fact paying rent every single month because that's another aspect that people don't think about too much, they think they're just going to collect rent.
• 24:05
  [SPEAKER_00]: No, you got to qualify tenants first, make sure that you're minimizing your risk of them not paying every single month.
• 24:12
  [SPEAKER_00]: And so the reality is that there's so many pieces to this puzzle, like you say.
• 24:16
  [SPEAKER_00]: And it's not as easy as perhaps I'm saying it.
• 24:21
  [SPEAKER_00]: My goal here is to make it sound simple.
• 24:23
  [SPEAKER_01]: Yeah.
• 24:24
  [SPEAKER_00]: And it is simple, but it's not easy, right?
• 24:28
  [SPEAKER_00]: It takes a system and a team just like any other business.
• 24:30
  [SPEAKER_02]: Yeah.
• 24:31
  [SPEAKER_03]: That's good.
• 24:31
  [SPEAKER_03]: Well said, you know what I mean?
• 24:33
  [SPEAKER_03]: Also to you, you did mention like the biggest part of the burst strategies, you got to come to the table, not come to the table, but you got to have finances in order.
• 24:41
  [SPEAKER_03]: Like you got to be able to find people that's going to lend to you specifically for these real estate properties.
• 24:48
  [SPEAKER_03]: How are you able to find these lenders and what are some of the best lenders out there when it comes to investing into these these real estate properties that you usually work with often.
• 24:59
  [SPEAKER_00]: Yeah, I would say it's definitely a relationship base, but just three that I can mention would be turnous capital.
• 25:03
  [SPEAKER_00]: They're based out of actually strong North Carolina, but they'll lend a hundred percent on your first deal.
• 25:07
  [SPEAKER_00]: They give you other way to buy it, all the way to go ahead and renovate it itself.
• 25:11
  [SPEAKER_00]: You got jet lending.
• 25:12
  [SPEAKER_00]: They're out of Texas.
• 25:13
  [SPEAKER_00]: They'll do a hundred percent financing as well.
• 25:15
  [SPEAKER_00]: So there's hundreds of lenders out there.
• 25:17
  [SPEAKER_00]: You definitely have to sort through which ones are.
• 25:19
  [SPEAKER_00]: Legit, which wins give you a better interest rate, which wins are going to work with you based on what market you're in.
• 25:24
  [SPEAKER_00]: But there are out there's just about making that phone calling seeing who's who and we'll kind of find a team to offer you.
• 25:30
  [SPEAKER_03]: And what do you usually look for when it comes to making, you know, a deal happening with Sarah Lenders?
• 25:35
  [SPEAKER_00]: I would say for me, I'm usually looking for an interest rate under 13%, I like to be around 11%, 10 to 11% is pretty fair.
• 25:43
  [SPEAKER_00]: 2% of the loan itself is going to be what their fees are, which is pretty reasonable.
• 25:50
  [SPEAKER_00]: And then I'm looking to see if they're also going to find it's not only houses, but also multi-community properties.
• 25:54
  [SPEAKER_00]: Because I like to work with the same lenders on multiple deals, because I want to build their relationship up with them.
• 25:59
  [SPEAKER_00]: Why?
• 25:59
  [SPEAKER_00]: Because when I come back to them, they're going to be a little bit more generous.
• 26:03
  [SPEAKER_00]: And they're gonna know, you know what Cindy went ahead if she actually did a house, she bought it, she paid a spec, let's give her some warm money now for an apartment complex.
• 26:10
  [SPEAKER_03]: That's good.
• 26:11
  [SPEAKER_00]: So I want to leave the door on the pepper for future deals.
• 26:13
  [SPEAKER_03]: Right, right, right.
• 26:14
  [SPEAKER_03]: And then like, what is your top state when it comes to investing?
• 26:17
  [SPEAKER_03]: Because now it sounds like I feel like the journey of incorrectly from wrong.
• 26:21
  [SPEAKER_03]: I feel like the journey of getting the first property might be, you know, you get the funds correct again, correct me from wrong, get the funds, find the property, find the contractor, find the management,
• 26:32
  [SPEAKER_03]: And then you start cash flowing and then you find your tenants like what's the overall system to be able to you know get your first real estate property under the burst strategy like from step one to five you would say.
• 26:45
  [SPEAKER_00]: Yeah so the first step is you got to solidify which asset base lender you're going to use.
• 26:49
  [SPEAKER_00]: So I recommend working with whether it's Turner's capital, whether it's jet lending, making a decision of which lender you're going to use and knowing it beforehand.
• 26:56
  [SPEAKER_00]: Now the second step is to go out and find a property.
• 26:58
  [SPEAKER_00]: Before you find a property you got you's a market.
• 27:00
  [SPEAKER_00]: I recommend beginner starting markets where houses are selling for under $100,000.
• 27:04
  [SPEAKER_00]: Less risk for you, don't not go for a $400,000 house that you want to rebuild and do all the work yourself.
• 27:10
  [SPEAKER_00]: So what are some markets where you can find houses under $100,000 to a little higher?
• 27:15
  [SPEAKER_00]: Day in Ohio, North Carolina, you can go into the Greensboro market into the fake bill market.
• 27:20
  [SPEAKER_00]: Augusta Jordan, these are all markets where you can find houses under that price point, which is going to protect you long term when it's your first deal.
• 27:28
  [SPEAKER_00]: Once you find those properties in those markets, you want to go ahead, you bring that deal to the lender, because again, you can have the lender, but you don't pre-qualify.
• 27:38
  [SPEAKER_00]: So you have the connection, but you still now got to bring the deal to them and say, hey, look, I found this property.
• 27:43
  [SPEAKER_00]: My all-in-cost is 70% of the properties after a peer value.
• 27:47
  [SPEAKER_00]: Will you approve it?
• 27:49
  [SPEAKER_00]: Now, if you are buying the property and you're all in cost meeting what you're buying it for and what you're going to spend around evading it, if it's 70% of that after a peer value, they will go ahead and approve the loan for you.
• 27:58
  [SPEAKER_00]: So that's how you go ahead and now you own the property.
• 28:00
  [SPEAKER_00]: Obviously, from there, you go ahead and you give the renovation with their money, and once it's renovated, you go out and you run it out.
• 28:06
  [SPEAKER_00]: That should take a six month process.
• 28:08
  [SPEAKER_03]: Really.
• 28:08
  [SPEAKER_03]: Wow.
• 28:10
  [SPEAKER_03]: That's good.
• 28:10
  [SPEAKER_03]: That's really good.
• 28:11
  [SPEAKER_03]: You got some.
• 28:12
  [SPEAKER_01]: Yeah, I was going to say we signed that we might have skipped over to is walk us through your first deal because usually that makes it breaks the person, especially getting into the real estate.
• 28:22
  [SPEAKER_01]: You know, you got your first time interacting with contract.
• 28:25
  [SPEAKER_01]: I know you say your brother is a contractor, but you know, a lot of people have bad experiences when it comes to first deals.
• 28:30
  [SPEAKER_01]: How was your first deal?
• 28:32
  [SPEAKER_01]: You know, the first property you got.
• 28:34
  [SPEAKER_00]: My first deal, I was living in Washington DC, I had a roll throughout in North Carolina, they found a deal for me.
• 28:40
  [SPEAKER_00]: They just look one thing out.
• 28:41
  [SPEAKER_00]: There's actually a semester in the backyard.
• 28:43
  [SPEAKER_00]: I didn't find down until I heard about the property, but I bought the property.
• 28:46
  [SPEAKER_00]: It was $90,000.
• 28:47
  [SPEAKER_00]: It was going to be worth 150 grand once it was renovated and needed about $15,000 in renovation costs.
• 28:54
  [SPEAKER_00]: So I went ahead.
• 28:54
  [SPEAKER_00]: I had bought the deal.
• 28:56
  [SPEAKER_00]: I took it to a harmony lender.
• 28:57
  [SPEAKER_00]: They gave me the funding to actually buy the property They gave me a money to go ahead and renovate it.
• 29:02
  [SPEAKER_00]: The realtor had connected me with a contractor.
• 29:04
  [SPEAKER_00]: This right here is key If you are investing in a market or you do not have anybody you don't have a contract You don't have a realtor you don't have a family members You want to get with the realtor because that realtor is going to be able to connect with trustworthy people that can do the work that you need them to do So my realtor had connecting with a contractor
• 29:21
  [SPEAKER_00]: contractor trust worthy man one ahead did the renovation for me and three months later I went ahead.
• 29:26
  [SPEAKER_00]: I write it out the property as of today, which has been three years now It cash flows like 384 and $0.00 a month Does it clearly well has a cemetery in back same tenants that have that moved in?
• 29:39
  [SPEAKER_00]: Yeah, they've been living there ever since They love it.
• 29:42
  [SPEAKER_00]: They've made it their home
• 29:43
  [SPEAKER_03]: So what about like, even because like, I feel like some people even have horror stories where you might have a tenant or you might have people living in your property that they may not be paying rent, they may be doing all other kinds of things.
• 29:57
  [SPEAKER_03]: Like, have you ever had a story where you had to like, almost kick a person out or you know what I mean?
• 30:04
  [SPEAKER_03]: Like, call the sheriff's department and tell him like, you guys can't stay here anymore.
• 30:08
  [SPEAKER_00]: Absolutely.
• 30:09
  [SPEAKER_00]: I've done evictions.
• 30:09
  [SPEAKER_00]: I've done three evictions over the last three years.
• 30:12
  [SPEAKER_03]: Yeah.
• 30:13
  [SPEAKER_00]: I would say it's never gone to such a heated point because I have a system now.
• 30:17
  [SPEAKER_00]: If you do not pay by the six of the month, you are getting a notice that I'm going to evict you within 10 days.
• 30:22
  [SPEAKER_00]: So I think a lot of times you will put themselves in a predicament or they're going back and forth of the tenant.
• 30:26
  [SPEAKER_00]: Now two months go by the tenants thing, I got you next month.
• 30:29
  [SPEAKER_00]: And when you keep going back and forth of them, you're given them more lee with than they need a half.
• 30:33
  [SPEAKER_00]: So for me, I'm very strict if you don't pay by the six, you're going to get a notice for any eviction within 10 days after that.
• 30:38
  [SPEAKER_00]: I'm going to go ahead and follow any eviction.
• 30:39
  [SPEAKER_00]: If you happen to pay, great.
• 30:41
  [SPEAKER_00]: If nonch and get you at the property, you have no time to go, destroy the property, live there, run free for four or five months.
• 30:47
  [SPEAKER_00]: I'm not going to do that.
• 30:48
  [SPEAKER_03]: Wow, you know, it's crazy because like I feel like I'm glad that you mentioned that part because a lot of times when you know you might tell a person Hey, listen like I think this year should be the year that you go on investing to real estate, you know, like yeah, but you know, what if somebody gets in my apartment and they're not paying and then I have this crazy landlord story like It's so crazy to the point where like I've heard of the news from time and time and again like people
• 31:13
  [SPEAKER_03]: like landlords go to properties to collect rent next to you know the tenant pushing down the stairs and they unfortunately pass away you know because he hit his head you know and it's it's it's straininess and it calls a lot of stress to some people is like I don't even want to deal with the headache when it comes to invest in the real estate.
• 31:33
  [SPEAKER_00]: It's always market-dependent, so in North Carolina it is a market that's more friendly to landlords, so the laws are in our favor, where I can get a tenant out if they haven't paid rent, and if I go to an addiction hearing, they're usually out of the property within two weeks.
• 31:45
  [SPEAKER_00]: So I'm not waiting once to get somebody out like other markets you're California, New York, your D.C., where you see squatters living in the property for
• 31:53
  [SPEAKER_00]: Six, seven months the Lailer goes over there.
• 31:55
  [SPEAKER_00]: They're trying to collect their rent and they're not allowed to So you want to be the market where you're actually protected and the second thing you always got to remember is that you'd have to go through a legal process to do evictions So you can't just go change the locks confront that the tenant.
• 32:06
  [SPEAKER_00]: I don't do any of that.
• 32:07
  [SPEAKER_00]: I do the paperwork.
• 32:08
  [SPEAKER_00]: Obviously I'm a lawyer I do my paperwork.
• 32:10
  [SPEAKER_00]: I follow the court.
• 32:11
  [SPEAKER_00]: I let the legal system do what it needs to do and I get them out
• 32:15
  [SPEAKER_03]: Yeah, let me actually have you ever had a situation where like like the law wasn't in your side or in your favor when it comes to dealing with tennis before?
• 32:25
  [SPEAKER_00]: No, I haven't because all of my tenants signed certainly agreements that once again says that if you not pay your lease, your rent, you are not in breach of this lease agreement.
• 32:35
  [SPEAKER_00]: And it also states that they are or aren't in the military.
• 32:38
  [SPEAKER_00]: Most times, people have extra protections if they're in the military, but they'll be sent in that they're not.
• 32:42
  [SPEAKER_00]: Because I've never up to this point rent to somebody in the military.
• 32:46
  [SPEAKER_00]: But I have certain protections in my lease.
• 32:48
  [SPEAKER_00]: I think you're really just comes back to Once again, treating a real estate like a business and having people sign the proper agreement, doing your due diligence because kind of to what I said earlier, a lot of it would think it's just easiest.
• 32:59
  [SPEAKER_00]: I'm going to run it out.
• 33:00
  [SPEAKER_00]: I'll meet somebody all all.
• 33:02
  [SPEAKER_00]: I won't even sign a lease and it's like you got to have your lease agreements in place because they will protect you when it comes time to go in a core and doing any fiction.
• 33:10
  [SPEAKER_01]: I'm glad you mentioned, you know, landlord friendly states because in New York, you know, we're from New York.
• 33:15
  [SPEAKER_01]: Yeah, it's out this, like the tenants have all the rights.
• 33:19
  [SPEAKER_01]: Like, it was one time I was just driving by in a landlord like to the point, said this person has been kidding, like 160 days and they plastered it right outside.
• 33:30
  [SPEAKER_01]: Apparently, the person lives like, maybe in the basement or so, and this person has any plastered right, like, anybody that's driving by can see it, this person has not paid rent and like 100, they're living for free, and I'm just like, it's that bad in New York.
• 33:45
  [SPEAKER_01]: It's really hard to really fight, courts is backed up out there, so it's like, especially during COVID too.
• 33:53
  [SPEAKER_01]: I could see what the landlord is going through, you know, to stay like New York.
• 33:56
  [SPEAKER_00]: Yeah, I had somebody tell me that in California, they've been trying to get somebody out, and they've spent almost at this point of our $40,000, right?
• 34:03
  [SPEAKER_00]: Because you have to keep making your mortgage pay.
• 34:06
  [SPEAKER_00]: So now, somebody's been living there wearing free and you're the one making that mortgage payment.
• 34:09
  [SPEAKER_00]: What's that costing you?
• 34:11
  [SPEAKER_00]: But again, I think it goes back to choosing the right market, do not feel tied to where you're living at.
• 34:16
  [SPEAKER_00]: Because a lot of people might say, while I live in New York, I live in California, I got to invest here.
• 34:21
  [SPEAKER_00]: If it's not a little or a friendly state, do not invest or there's 40 other states that you can invest in the United States of America that are going to have more favorable laws towards you.
• 34:30
  [SPEAKER_00]: That's going to make this business much easier for you.
• 34:32
  [SPEAKER_01]: Yeah, even got bad to one-point at one guy in New York, he ended up just crashing out and the tenant was sleeping, he just set the place on fire.
• 34:43
  [SPEAKER_01]: Really?
• 34:43
  [SPEAKER_01]: Yeah.
• 34:44
  [SPEAKER_01]: And he went hand up, getting locked up for that.
• 34:46
  [SPEAKER_01]: Sorry.
• 34:47
  [SPEAKER_01]: I don't know how bad he was underwater, but you could see how, you know, it's real bad.
• 34:52
  [SPEAKER_00]: It could be frustrating, absolutely.
• 34:54
  [SPEAKER_00]: Because again, you're making those monthly payments.
• 34:55
  [SPEAKER_00]: And I think that a lot of people think that landlords are these multi-millionaires that have the ability to pay for you to see in their properties if you're not to pay rent.
• 35:06
  [SPEAKER_00]: And the reality is that's not true.
• 35:09
  [SPEAKER_00]: This is a business.
• 35:10
  [SPEAKER_00]: You got to pay your rent.
• 35:11
  [SPEAKER_00]: You can't expect somebody else to pay that for you.
• 35:14
  [SPEAKER_03]: Right.
• 35:15
  [SPEAKER_01]: Yeah.
• 35:15
  [SPEAKER_01]: I do want to.
• 35:16
  [SPEAKER_01]: Are you guys?
• 35:18
  [SPEAKER_03]: Yeah.
• 35:18
  [SPEAKER_03]: I feel like you're going to actually say anything.
• 35:20
  [SPEAKER_01]: I was going.
• 35:20
  [SPEAKER_01]: I was going to jump into the fixing flips.
• 35:23
  [SPEAKER_01]: Okay.
• 35:24
  [SPEAKER_01]: I didn't want to know like your first flip experience.
• 35:28
  [SPEAKER_01]: You know, I did some research.
• 35:29
  [SPEAKER_01]: I think you had did it with your brother.
• 35:31
  [SPEAKER_01]: Yeah.
• 35:32
  [SPEAKER_01]: How was that?
• 35:33
  [SPEAKER_01]: And like, how do you know was the right move?
• 35:36
  [SPEAKER_00]: Man, we had the contractor runoff on us on that one.
• 35:40
  [SPEAKER_00]: So.
• 35:42
  [SPEAKER_00]: $4,000.
• 35:43
  [SPEAKER_00]: It wasn't terrible.
• 35:45
  [SPEAKER_00]: It was a good deal.
• 35:46
  [SPEAKER_00]: So we had enough of a spread in the deal to make out well.
• 35:50
  [SPEAKER_00]: But it taught us that we have to be on the ground when it comes to contractors and monitor them more.
• 35:56
  [SPEAKER_00]: And at that point, by the way, was a law enforcement officer.
• 35:58
  [SPEAKER_00]: He quit his job.
• 35:59
  [SPEAKER_00]: I was not of being a lawyer.
• 36:01
  [SPEAKER_00]: So I was full of time in the business, but he decided, you know, I'm going to go ahead and go all into.
• 36:04
  [SPEAKER_00]: And I'm going to manage his contractors as well because again, I think real estate will put you in situations where you realize that it's like any of the business we got to have systems and processes otherwise you're going to get screw your nose money and that's a situation when the contractor ran off on us while was it will our flip was an hour away we weren't checking up on him every four or five days we might go and see what's going on the property and then we found out that it was being done well.
• 36:31
  [SPEAKER_01]: Yeah, that's crazy.
• 36:33
  [SPEAKER_01]: I mean, that's another learning lesson, you know, and situation like that.
• 36:37
  [SPEAKER_01]: So from that experience, like, how do you pay contractors to avoid a mistake like that?
• 36:42
  [SPEAKER_00]: So the way we pivoted from that is that now we always buy their materials.
• 36:46
  [SPEAKER_00]: So before we would pay contractor to do the work and to buy the materials, we no longer do that.
• 36:51
  [SPEAKER_00]: We go ahead and we borrow materials, we get it delivered to the site and we actually have a project manager now inside.
• 36:56
  [SPEAKER_00]: At all our projects every single day, they check it.
• 37:00
  [SPEAKER_00]: Wow.
• 37:01
  [SPEAKER_00]: Experiences like that, they burn you, but it teaches you the persevere, but also to persevere and now build something out.
• 37:08
  [SPEAKER_00]: That's going to be sustainable long term and it's going to avoid you losing money.
• 37:11
  [SPEAKER_01]: Yeah, and how did you get your brother on board like is this something like he's seen a work it for you and then he's like, hey six Yeah, join you.
• 37:21
  [SPEAKER_01]: That's a that's a whole sacrifice and he must have seen something working.
• 37:25
  [SPEAKER_00]: Yeah, so when I actually started buying houses It was now in the summer of June of 2024.
• 37:31
  [SPEAKER_00]: I call them.
• 37:31
  [SPEAKER_00]: I said you and believe what I've been doing.
• 37:33
  [SPEAKER_00]: I hadn't really told them much.
• 37:34
  [SPEAKER_00]: I go.
• 37:35
  [SPEAKER_00]: I've all like eight houses as of now.
• 37:37
  [SPEAKER_00]: He's like no way and how many months was that it was like in six months.
• 37:41
  [SPEAKER_00]: And two weeks later, he flies on North Carolina, he buys two rental properties.
• 37:45
  [SPEAKER_00]: So, he started kind of diving into it, and then a year later, he saw him take the leap of faith, coming out of my job as an attorney, and he was like, you know what, if you're doing it, I'm going to bet on myself too, and let's go ahead and build this up the way we want to, and that's what we did.
• 37:59
  [SPEAKER_00]: I mean, he took a leap of faith.
• 38:00
  [SPEAKER_00]: It was an easy, I think, I always say it was probably easier for me, because I'm single.
• 38:03
  [SPEAKER_00]: I don't have kids.
• 38:04
  [SPEAKER_00]: Man's Mary, got kids, got bills, right?
• 38:07
  [SPEAKER_00]: It's hard.
• 38:07
  [SPEAKER_00]: So it's a little bit, it's rather a little bit harder, but he really took that leap of faith and believed that what we were gonna do.
• 38:13
  [SPEAKER_00]: And I'm always grateful for that because not a lot of people can see where you're heading.
• 38:18
  [SPEAKER_00]: They're just gonna see where you're at.
• 38:19
  [SPEAKER_00]: And at that time, we had a few rental properties, but we weren't doing fixing flips.
• 38:22
  [SPEAKER_00]: We were almost practically getting skined out of our first one at the point.
• 38:26
  [SPEAKER_00]: And to see where we're at right now, I mean, it's been a blessing, because now we fly.
• 38:29
  [SPEAKER_00]: We have the mold-packing properties, we're building homes, doing pretty dope stuff.
• 38:34
  [SPEAKER_03]: By the way, it was one project that you probably think you would never forget, like the experience.
• 38:39
  [SPEAKER_00]: Ooh, I think it was that 11 unit that I bought.
• 38:43
  [SPEAKER_00]: That was my former small-time family deal.
• 38:45
  [SPEAKER_00]: It was in North Carolina.
• 38:47
  [SPEAKER_00]: And I did that with my dad.
• 38:48
  [SPEAKER_03]: Mm.
• 38:49
  [SPEAKER_00]: And when I say I did it with my dad, I mean that I bought it myself and I had my dad as my head honed from my contractor, but it was a mess.
• 38:57
  [SPEAKER_00]: It was a mess because it was a big renovation project.
• 39:00
  [SPEAKER_00]: It was an occupied property.
• 39:02
  [SPEAKER_00]: Normally I always advise now because of that never buy property with tenants in place.
• 39:06
  [SPEAKER_00]: because what you're dealing with is you're taking over someone's problems and so I was in with 10 in stat where drug dealers, they were prostitutes, they had literally made a fire within the house so they cut through the floors, they did a fire in the ground in order to heat the house.
• 39:22
  [SPEAKER_00]: It was a slum lord.
• 39:23
  [SPEAKER_00]: I was in a lot of stuff with that property.
• 39:25
  [SPEAKER_00]: I had to keep everybody out yet renovate all these units.
• 39:29
  [SPEAKER_00]: I had a property vacant for almost six, seven months.
• 39:32
  [SPEAKER_00]: It was a nightmare.
• 39:34
  [SPEAKER_00]: But my mentality was that was either this property is going to kill me and it's going to give me a real estate, or I'll see the end of light on it, I'll fully finish the renovation within the year peer that I have, and I'll rent it out and it'll cashle the way I thought it would.
• 39:49
  [SPEAKER_03]: And I mean, I could almost imagine some people have like that, that emotional attachment to where they're living, because some people may be living there for 5, 10, 15 plus years, like, how did you convince them to leave?
• 40:02
  [SPEAKER_00]: Oh man, I convinced him the wrong way.
• 40:04
  [SPEAKER_03]: How was that?
• 40:05
  [SPEAKER_00]: So I told him that if they left, they could come back once they've renovated the property.
• 40:09
  [SPEAKER_00]: My mindset was they're going to forget, they will come back, what ended up happening three months later, they start going by the property every single day.
• 40:17
  [SPEAKER_00]: They're checking up on their apartments, they want to see how their apartments doing, how has it been renovated, what's going on?
• 40:22
  [SPEAKER_00]: And when they saw that, I had to finally, they renovated, they're asked to move back in.
• 40:26
  [SPEAKER_00]: Now I've got drug dealers coming back, but they want to move into this area.
• 40:29
  [SPEAKER_00]: And my mentality was, I want to charge a certain amount of rent, but in order to charge that certain amount of rent, they're probably not going to have to be renovated.
• 40:35
  [SPEAKER_00]: It's got to be a safe space.
• 40:37
  [SPEAKER_00]: Yes.
• 40:37
  [SPEAKER_00]: And I was like, I can't let you guys come back.
• 40:40
  [SPEAKER_00]: They weren't letting off.
• 40:41
  [SPEAKER_00]: They would keep visiting every single day.
• 40:44
  [SPEAKER_00]: They were adamant that as long as they had their rent, they should move back in.
• 40:47
  [SPEAKER_03]: Yeah.
• 40:49
  [SPEAKER_00]: It was a nightmare because I didn't know how to have difficult conversations like that and deal with different personalities.
• 40:55
  [SPEAKER_00]: And what I realized was, if you're just transparent and you explain to people that this is just how it's going to work, you'll avoid the headaches on the road.
• 41:03
  [SPEAKER_00]: So I had to have that conversation, it ended up, well, they understood because I just called them on their stuff.
• 41:07
  [SPEAKER_00]: I was like, I know you're a drug dealer man.
• 41:08
  [SPEAKER_00]: I can't have you here.
• 41:09
  [SPEAKER_00]: I'm gonna have moms here.
• 41:10
  [SPEAKER_00]: I'm gonna have kids running around.
• 41:12
  [SPEAKER_00]: I can't have this type of behavior.
• 41:14
  [SPEAKER_00]: And so you really can't move back in.
• 41:16
  [SPEAKER_00]: But I got them out, transformed the entire neighborhood, phenomenal now, people are safe, people are happy.
• 41:22
  [SPEAKER_00]: So it worked out.
• 41:24
  [SPEAKER_00]: It was a pain the first nine months.
• 41:26
  [SPEAKER_01]: Yeah.
• 41:27
  [SPEAKER_03]: But it was worth it.
• 41:28
  [SPEAKER_01]: Yeah.
• 41:28
  [SPEAKER_01]: Wow.
• 41:30
  [SPEAKER_01]: We spoke about a whole lot.
• 41:32
  [SPEAKER_01]: You know, we went over the financial strategies, we went over the fixing flips.
• 41:36
  [SPEAKER_01]: I do want to ask about the deal side.
• 41:39
  [SPEAKER_01]: Like how do you find your deals like what is some
• 41:43
  [SPEAKER_01]: You know, like, what are some ways that you were finding deals early on versus now?
• 41:48
  [SPEAKER_01]: Like, what is your strategy behind getting the best deals?
• 41:51
  [SPEAKER_00]: So the best things are always off-market, off-market means that they are sourced out by wholesalers, wholesalers will go, reach out to sellers, ask them if they want to sell their property, and then wholesalers will sell those properties through Facebook or InvestorLift.com.
• 42:05
  [SPEAKER_00]: So I go on those websites and I find my off-market deals, they're usually being sold at a discount where it's a profitable deal, it's going to make sense for you to buy it as a rental or to flip it, but I always go off-market.
• 42:17
  [SPEAKER_01]: Well, so what are some things that you're looking at when you're, when like I say you see you see a property on on Facebook or investor lift like What are some, what are some things that you're looking at like the numbers like The pictures before you even make the trip to take or take the trip to go see the property
• 42:34
  [SPEAKER_00]: I always look at the numbers, because the numbers don't work, I'm not going to get financing for it.
• 42:38
  [SPEAKER_00]: So in order for the financing to go through and for me, that's put any money into the deal.
• 42:42
  [SPEAKER_00]: I got to make sure that my all-in cost is going to be 70% of what that property will be worth going to be renovated.
• 42:47
  [SPEAKER_00]: So if I see that the property is going to be worth $100,000 once it's renovated, I can't spend more than $70,000 on that property between what I'm buying it for and what I'm renovating it for.
• 42:56
  [SPEAKER_00]: So I've got to first do them at the CLK.
• 42:58
  [SPEAKER_00]: If this property, I can see any some work.
• 43:00
  [SPEAKER_00]: What will it be worth after it's renovated?
• 43:02
  [SPEAKER_00]: And then we'll work my way backwards and see if my offer is relatively close to what they're even asking for the property.
• 43:07
  [SPEAKER_00]: If they are and I can see the numbers are going to work there.
• 43:09
  [SPEAKER_00]: Then I'll go ahead and pursue it, go see it, see what the renovation costs are and all of that.
• 43:14
  [SPEAKER_00]: But the first thing is always seeing, is it even going to meet the qualification that these liners are going to have?
• 43:19
  [SPEAKER_00]: Because otherwise, if it doesn't, what does that mean for me?
• 43:21
  [SPEAKER_00]: I've got to put money down.
• 43:22
  [SPEAKER_00]: I don't like putting money down to buy real estate.
• 43:24
  [SPEAKER_01]: I'm just going to actually, too, as I was like, you don't like put in money down.
• 43:28
  [SPEAKER_01]: I hate it.
• 43:30
  [SPEAKER_01]: So what about like closing costs and things like that?
• 43:32
  [SPEAKER_01]: Like how do you bypass that?
• 43:34
  [SPEAKER_00]: You've got closing costs that you had a count for, usually 2% of the loan amount you got to put down in closing costs.
• 43:41
  [SPEAKER_00]: When I started buying, when I started buying real estate at the beginning of my journey, I used to buy a lot of deals on market.
• 43:48
  [SPEAKER_00]: The benefit of buying on market is a following.
• 43:50
  [SPEAKER_00]: You can have the seller pay for your closing costs, which is more normal in that aspect.
• 43:55
  [SPEAKER_00]: When you're going off market, you are paying for the seller's closing costs.
• 43:58
  [SPEAKER_00]: It's never normal for you as a buyer, so you're taking people off my closing costs.
• 44:01
  [SPEAKER_00]: And so although on market, you're not getting homework and deals, you can get okay deals.
• 44:05
  [SPEAKER_00]: But if you can get an okay deal, get the letter to find it to all of it for you.
• 44:08
  [SPEAKER_00]: You can probably ask the seller to give you some money towards your closing costs so that you're not coming out of pocket on your first deal.
• 44:14
  [SPEAKER_03]: Well, and then like I see on your page you mentioned some like caught up by 15 properties.
• 44:20
  [SPEAKER_03]: I mean, I'm sorry.
• 44:21
  [SPEAKER_03]: How to buy three properties under 15,000 dollars like is that even like how do you do that, you know.
• 44:28
  [SPEAKER_00]: So here's what I'll tell you.
• 44:29
  [SPEAKER_00]: I always recommend people start off with buying a hundred thousand dollars or less property.
• 44:33
  [SPEAKER_00]: Why?
• 44:34
  [SPEAKER_00]: Because your closing calls on that would be about $2,000 and $3,000.
• 44:37
  [SPEAKER_00]: So if you have $15,000 now, let's just talk about how many houses you can buy.
• 44:42
  [SPEAKER_00]: One single time with $15,000, if all your responsible is your closing calls.
• 44:47
  [SPEAKER_00]: Now, the way you could probably go about it a different way as well, is let's say that you buy your first one, you spend your $3,000 in closing calls because a lender funded the entire purchase and the entire reapp.
• 44:58
  [SPEAKER_00]: When you're now going to the refinance that property, you're able to get some money out.
• 45:02
  [SPEAKER_00]: So now you're in a position where you got paid on the rental property now you got a little bit extra cash and go out and do your second deal and because you got a little bit more money Why not go for instead of a $100,000 house that you're going to put two 3% down and closing costs why not go for a duplex for a triplex where you're going to not triple your monthly income and they're still going to finance all of it
• 45:23
  [SPEAKER_00]: The only thing is you've got to put a little bit more money down in closing costs, but you can scale up much quicker once you pivot from the houses into the duplexes, the triplexes, the fourplexes, and let's say you do a fourplex.
• 45:34
  [SPEAKER_00]: If you did a fourplex in a house, now you got five rental units.
• 45:38
  [SPEAKER_01]: Sorry to break this amazing episode.
• 45:40
  [SPEAKER_01]: I just have to let you guys know
• 45:42
  [SPEAKER_01]: Best tool for marketing in 2025 is podcasting.
• 45:45
  [SPEAKER_01]: Listen, it transformed our lives across all platforms.
• 45:48
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• 45:51
  [SPEAKER_01]: Imagine what it did for our business.
• 45:53
  [SPEAKER_01]: To mention, we also have some notable likes just through podcasting.
• 45:57
  [SPEAKER_01]: People like you same boat, the way in Wade, Kevin Garnet, Steven A. Smith,
• 46:03
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• 46:04
  [SPEAKER_02]: But more importantly, having engagement by your dream clients is probably the most important thing that will move the needle for you and your business.
• 46:12
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• 46:22
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• 46:28
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• 46:35
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• 46:43
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• 46:48
  [SPEAKER_03]: I feel like there's a lot of controversy between single family housing when you're investing into real estate versus multi-family housing like what's your take on it like are you strictly only doing multi-family or do you strictly only teach multi-family for the birth strategy?
• 47:06
  [SPEAKER_00]: I only like multi-filling me at the moment.
• 47:08
  [SPEAKER_00]: The reason being is that if I'm going to only ask it, I would rather get paid multiple ways within that ask it.
• 47:14
  [SPEAKER_00]: So instead of having a house, one tenant, they only pay you.
• 47:17
  [SPEAKER_00]: And if they don't pay you, then you're out of luck.
• 47:20
  [SPEAKER_00]: I'd rather have a building where I have 10 income streams coming in every single month.
• 47:24
  [SPEAKER_00]: If one doesn't pay, I'm still fine.
• 47:26
  [SPEAKER_00]: I can still make my mortgage payment.
• 47:27
  [SPEAKER_00]: And then I'll address that one accordingly.
• 47:28
  [SPEAKER_00]: But it's the best way to not only be safer from a position of, I want to get paid every single month.
• 47:35
  [SPEAKER_00]: But if a lender is going to give you the money to buy the property, why go and buy one stream of income, and buy tensions of income, and now you're making Luma money every single month?
• 47:44
  [SPEAKER_03]: Yeah, and then also, I don't know that too.
• 47:47
  [SPEAKER_03]: Like, I didn't heard like, you know, some investors like, even people that I know, you know, when they started in a real estate game, you know, they ended up getting out of it.
• 47:56
  [SPEAKER_03]: They were saying, hey, listen, I was house rich in cash poor, you know, like,
• 48:03
  [SPEAKER_03]: making probably like $200 a month, you know, like how do you make sure like certain deals is actually cash flowing you enough that you can even pocket, you can account for expenses, you can account for a plumbing issue, an HVAC issue, a roofing issue or whatever the case may come up with.
• 48:21
  [SPEAKER_00]: So also two things, most landlords aren't making money because they have maintenance expenses.
• 48:27
  [SPEAKER_00]: Why do they have maintenance expenses?
• 48:29
  [SPEAKER_00]: Because they're going ahead, they're buying properties with 20% down and they don't have any money to renovate the property.
• 48:33
  [SPEAKER_00]: So they don't renovate the property, but we'll have in six months later.
• 48:36
  [SPEAKER_00]: Hey, the AC went out.
• 48:38
  [SPEAKER_00]: Hey, the water is at hot.
• 48:39
  [SPEAKER_00]: The toilet's leaking.
• 48:40
  [SPEAKER_00]: So now you've got to pull out of your cash flow and go ahead and address those issues.
• 48:44
  [SPEAKER_00]: If you use the birth strategy and you buy a property, you rehab it.
• 48:49
  [SPEAKER_00]: Guess what kind of calls you aren't getting?
• 48:51
  [SPEAKER_00]: Hey, the AC's out.
• 48:51
  [SPEAKER_00]: The AC's in now.
• 48:52
  [SPEAKER_00]: I just installed a new one.
• 48:54
  [SPEAKER_00]: So now, reduce my maintenance costs, and you can be way more profitable going that route.
• 48:58
  [SPEAKER_00]: The second thing I would say is that a lot of people don't know how to maximize their cash again, they'll just go out and that wing it and say, I'll just list it for whatever.
• 49:05
  [SPEAKER_00]: No, you got to list it strategically.
• 49:07
  [SPEAKER_00]: What I recommend is to have a rent amount that is at least 30% more than your mortgage payment.
• 49:12
  [SPEAKER_00]: That gives you enough cushion so that you can actually cash for three to $450 a month off of one unit.
• 49:18
  [SPEAKER_01]: that's good that's good when do you know it like when do you know it's like the perfect time to sell property like when you like I just can't take it anymore
• 49:28
  [SPEAKER_00]: On beyond us, I don't know yet.
• 49:29
  [SPEAKER_00]: I've installed any of mine.
• 49:31
  [SPEAKER_00]: My goal is to sell my portfolio in the next 10 to 15 years.
• 49:35
  [SPEAKER_00]: I want to build it up and I want to have an exit.
• 49:38
  [SPEAKER_00]: And the way that I think about it is 10 to 15 years gives me enough time to have more equity.
• 49:43
  [SPEAKER_00]: The properties will appreciate.
• 49:45
  [SPEAKER_00]: Tenants will pay off 30% of those loans.
• 49:49
  [SPEAKER_00]: So now I'll be in a position where the properties are worth more.
• 49:51
  [SPEAKER_00]: My mortgage balance is less.
• 49:53
  [SPEAKER_00]: And I'll have a nice spread there where I can exit out of them.
• 49:56
  [SPEAKER_00]: That's how I think about it.
• 49:58
  [SPEAKER_01]: Like for people who's watching isn't it like I want to build a pipeline up to you know start getting some real estate or to get my first deal Whether it's all from market whether it's you know having the right agents in place, whatever it may be like will be like Five relationships you would advise them to build like five five people that you need to be connected to
• 50:22
  [SPEAKER_00]: Okay, I never wanted to be wholesalers because you want to find deals off market easiest way to find wholesalers is join Facebook groups for your market so you would go let's say that you're in the North Carolina market you would go North Carolina real estate investors off market deals in Facebook and you joined those Facebook groups and you meet the wholesalers because wholesalers are active in those groups the number two thing I would recommend is connect with lenders.
• 50:43
  [SPEAKER_00]: do a search for asset base liners.
• 50:45
  [SPEAKER_00]: You can either go to my profile, find out who's who or you can do your own research and see in your market which asset base liners are giving that 100% financing.
• 50:53
  [SPEAKER_00]: The third thing would be connecting with a good realtor on the ground because realtors can tell you what a property will be worth once you renovate it.
• 51:01
  [SPEAKER_00]: And that way they give you that insight.
• 51:03
  [SPEAKER_00]: You find good realtors usually in those Facebook groups because those are Facebook groups for investors.
• 51:08
  [SPEAKER_00]: So they're active there.
• 51:09
  [SPEAKER_00]: They understand how us as investors think.
• 51:11
  [SPEAKER_00]: So realtors and then I was hit the fourth one.
• 51:13
  [SPEAKER_00]: It'll be contractors.
• 51:15
  [SPEAKER_00]: You got to find a good contractor.
• 51:16
  [SPEAKER_00]: How do you find them as either word a mouth from other investors and how do you get that being in the room with other investors being at Facebook groups or having a really great relative that already has that connection where they can just do a handoff for you.
• 51:27
  [SPEAKER_00]: So you'd have to go and find out who's a legit contractor.
• 51:30
  [SPEAKER_03]: Mmm, that's good.
• 51:32
  [SPEAKER_00]: I know you said five thinking about the fifth five.
• 51:33
  [SPEAKER_00]: I don't know how you play it.
• 51:35
  [SPEAKER_01]: Yeah, I mean, that's a whole lot.
• 51:37
  [SPEAKER_01]: And you, you mentioned wholesale is how do you build that relationship with wholesalers where they can, they want to give you deals?
• 51:44
  [SPEAKER_01]: Because I mean, they probably have a list of investors, but what makes them, like, you know, want to come to you.
• 51:50
  [SPEAKER_00]: so don't ever count their pockets.
• 51:51
  [SPEAKER_00]: So the way wholesalers make their money is that they agree by property from a seller at a certain price and then they come to you and they try to sell it to you for a higher price.
• 52:00
  [SPEAKER_00]: The higher price could be $10,000 more, $30,000 more, $80,000 more.
• 52:05
  [SPEAKER_00]: You don't know.
• 52:06
  [SPEAKER_00]: And so my take is always, I don't care what you're making.
• 52:09
  [SPEAKER_00]: If the numbers work for me and for my lender, I'll buy it.
• 52:12
  [SPEAKER_00]: If you made $10,000 great, if you make $30,000 great, I'm happy for you.
• 52:15
  [SPEAKER_00]: A lot of times wholesalers don't like dealing with certain buyers because the bars would be like, you're making 30 grand, I'm not gonna buy that deal from you, but a producer price and the whole zone is like, I went out, I found the property, and now you're counting my pockets, so I'm never going to bring a deal to you.
• 52:28
  [SPEAKER_00]: So I never count their pockets, and then on top of that, I just try to be easy with them.
• 52:31
  [SPEAKER_00]: I try to really build a relationship where it's not just transactional, so if we close a deal, I'll try to like take them out for E to E, I'll buy them a bottle,
• 52:43
  [SPEAKER_00]: I appreciate it.
• 52:45
  [SPEAKER_00]: It's not like as a transaction.
• 52:46
  [SPEAKER_00]: I want to keep doing business with you because my business in a way is dependent on you bringing me more deals.
• 52:53
  [SPEAKER_00]: And so I want to be top of my for you when you see your next deal.
• 52:55
  [SPEAKER_00]: You want to go ahead and send it to me.
• 52:57
  [SPEAKER_03]: That's good.
• 52:58
  [SPEAKER_03]: That's real good.
• 52:59
  [SPEAKER_03]: Cause like we've even had conversations with wholesalers, you know, people that teach the wholesaling game.
• 53:05
  [SPEAKER_03]: And it's like sometimes like some investors, they say are good, you know, they want to count their pockets and then when they start axing them around.
• 53:14
  [SPEAKER_03]: Yeah, you know, they might try to go around and try to, you know, mess up the deal and do all kinds of funny stuff.
• 53:20
  [SPEAKER_03]: And it gets a little, you know,
• 53:24
  [SPEAKER_03]: A little bit weird for them sometimes, you know, but honestly, it's really just having those good relationships are definitely the best thing when it comes to the best.
• 53:32
  [SPEAKER_03]: Yeah, because they're working all day hitting the phones, sending the messages like, doing the follow-ups,
• 53:39
  [SPEAKER_03]: It's hard.
• 53:39
  [SPEAKER_03]: It's hard.
• 53:40
  [SPEAKER_03]: It's hard.
• 53:40
  [SPEAKER_03]: It's hard.
• 53:41
  [SPEAKER_00]: It's hard.
• 53:41
  [SPEAKER_00]: It's hard.
• 53:42
  [SPEAKER_00]: It's hard.
• 53:42
  [SPEAKER_00]: It's hard.
• 53:42
  [SPEAKER_00]: It's hard.
• 53:43
  [SPEAKER_00]: It's hard.
• 53:43
  [SPEAKER_00]: It's hard.
• 53:43
  [SPEAKER_00]: It's hard.
• 53:44
  [SPEAKER_00]: It's hard.
• 53:44
  [SPEAKER_00]: It's hard.
• 53:44
  [SPEAKER_00]: It's hard.
• 53:45
  [SPEAKER_00]: It's hard.
• 53:45
  [SPEAKER_00]: It's hard.
• 53:45
  [SPEAKER_00]: It's hard.
• 53:46
  [SPEAKER_00]: It's hard.
• 53:46
  [SPEAKER_00]: It's hard.
• 53:47
  [SPEAKER_00]: It's hard.
• 53:47
  [SPEAKER_00]: It's hard.
• 53:48
  [SPEAKER_00]: It's hard.
• 53:48
  [SPEAKER_00]: It's hard.
• 53:48
  [SPEAKER_00]: It's hard.
• 53:49
  [SPEAKER_00]: It's hard.
• 53:49
  [SPEAKER_00]: It's hard.
• 53:49
  [SPEAKER_00]: It's hard.
• 54:07
  [SPEAKER_03]: It is.
• 54:08
  [SPEAKER_03]: It definitely is.
• 54:09
  [SPEAKER_03]: By doing it actually to like, um, what's what easily stands out about about a bad deal, what easily stands out with a bad deal that looks good on paper.
• 54:21
  [SPEAKER_00]: renovations, renovations.
• 54:23
  [SPEAKER_00]: Yeah, a lot of people don't calculate what it would really What would really cost?
• 54:28
  [SPEAKER_00]: I should do a renovation.
• 54:30
  [SPEAKER_00]: So it might look good on paper and you might say okay It's gonna rent well.
• 54:34
  [SPEAKER_00]: It'll make me a lot of money when I flip it.
• 54:36
  [SPEAKER_00]: Let's just say But in reality, how much is it gonna cost you to get to that level where you need to sell it and make a profit?
• 54:42
  [SPEAKER_00]: And mostly when they're starting out they don't know how to calculate renovations the bar pocket But when you ballpark it what happens when it really comes under the numbers
• 54:50
  [SPEAKER_00]: You see that you may be profiting 23,000 dollars that have 53,000 dollars like you thought.
• 54:56
  [SPEAKER_00]: So it always comes down, I always say it always comes down to the renovation costs because when you're looking at how much to offer, what are you doing?
• 55:02
  [SPEAKER_00]: Yeah, look at the after-per-value.
• 55:04
  [SPEAKER_00]: Take off 70% of that amount and then you deduct your renovation costs.
• 55:09
  [SPEAKER_00]: So if your renovation costs are off, the whole deal is off now.
• 55:17
  [SPEAKER_03]: Because you might speak to the, like, the newbie investor or the person, that just want to make some, you know, they're, they're getting ready to retire.
• 55:25
  [SPEAKER_03]: They want to make sure that they have some extra income coming in from properties.
• 55:29
  [SPEAKER_03]: So they like, hey, listen, you know, let me just go buy a house and just hopefully make, make me extra $1,000 a month, you know?
• 55:38
  [SPEAKER_03]: Um, and it sounds like those people are doing emotional kind of investing and it sounds like your thing is more like like logical like it's all educate like it's all like educated It's not it's an educated guess, you know that you're able to make so that way you're in the situation where you know exactly what to expect at the end of the day.
• 55:58
  [SPEAKER_03]: So are these the things that like you kind of teach as well?
• 56:01
  [SPEAKER_00]: Yeah, absolutely teaches so I teach how you can go out and buy three to five rental properties in a year.
• 56:06
  [SPEAKER_00]: And I would say the way I do it is very logical.
• 56:09
  [SPEAKER_00]: I'm very concerned.
• 56:10
  [SPEAKER_00]: It's probably my background as a lawyer when it comes to this.
• 56:13
  [SPEAKER_00]: But I'm always teaching people how to, again, look at real estate as a business.
• 56:17
  [SPEAKER_00]: Because a lot of people look at it from an emotional standpoint of my home.
• 56:21
  [SPEAKER_00]: I wanted to be nice and we just got to think about the numbers.
• 56:23
  [SPEAKER_00]: What is ultimately going to get us to that monthly income that we want to have?
• 56:28
  [SPEAKER_00]: And how do we minimize our risk all around so that that monthly income actually comes in every single month?
• 56:34
  [SPEAKER_03]: And then like, how do you like help a person like kind of like, I would say, set those goals.
• 56:42
  [SPEAKER_03]: You know, you might have a person that's looking to retire soon.
• 56:45
  [SPEAKER_03]: They want to make sure that they have enough income coming in while they're not actively working.
• 56:50
  [SPEAKER_03]: Like, how do you usually help them?
• 56:52
  [SPEAKER_03]: Like, do you, what's that process usually looking like?
• 56:56
  [SPEAKER_00]: I would say if the goal is to retire in the next 12-36 months, I would recommend going more tech Emily.
• 57:02
  [SPEAKER_00]: Because you're going to have more streams of income, out the gate, it's going to get you to your monthly income goal much quicker than going the single family route if you have the time.
• 57:11
  [SPEAKER_00]: Now there are other people that are going to play a different game, which is a more long-term game of Iowa to rather...
• 57:16
  [SPEAKER_00]: I like my job.
• 57:16
  [SPEAKER_00]: I want to get on 10, 15 years, no issue with that.
• 57:19
  [SPEAKER_00]: They want to start with the houses.
• 57:20
  [SPEAKER_00]: The houses, yes, it's the only one issue of income.
• 57:23
  [SPEAKER_00]: You can definitely buy one or two every single year, but they're playing more of a long-term appreciation goal when it comes to the single-family houses.
• 57:29
  [SPEAKER_00]: So it really just depends how soon you want to replace for income, and what type of income you want to replace.
• 57:34
  [SPEAKER_00]: Like for me, when I, I want to replace my income, I wasn't trying to make $40,000 a year.
• 57:40
  [SPEAKER_00]: I was a lawyer.
• 57:41
  [SPEAKER_00]: I'll show her a place mine income as a lawyer.
• 57:43
  [SPEAKER_00]: And so I quickly realized that the house is wasn't going to get me there.
• 57:47
  [SPEAKER_00]: That's why I then pivot into the multi-family.
• 57:48
  [SPEAKER_00]: And so when I'm teaching people this, I'm explaining to them, it's always based on what your goal is and how quickly you want to scale up and get that income that you're looking to get.
• 57:56
  [SPEAKER_00]: Now, you can absolutely get that income, leveraging the database letters, it just involves not creating the right systems in place.
• 58:02
  [SPEAKER_00]: So you can manage a larger portfolio.
• 58:04
  [SPEAKER_00]: because you're not just managing a house is now, you have to be managing 80 apartments.
• 58:09
  [SPEAKER_00]: So how do you do that in a way that you protect yourself, you're not over a leverage, and when is coming in every single month?
• 58:15
  [SPEAKER_03]: Right, right, right, right.
• 58:16
  [SPEAKER_03]: And do you have any kind of like, time that you've been working with a lot of people, you know, when it comes to teaching, that's real estate game?
• 58:24
  [SPEAKER_03]: Like, can you talk about like, one of the most rememberable, is that even a word?
• 58:32
  [SPEAKER_03]: Rememberable, memorable moments catch you by some of your students.
• 58:38
  [SPEAKER_00]: I think I've ever remembered moment.
• 58:40
  [SPEAKER_00]: I would say, I would say, my guy Mike, he bought a four unit building in North Carolina for $70,000.
• 58:50
  [SPEAKER_00]: It's going to be worth about $240, $250,000 once it's renovated.
• 58:54
  [SPEAKER_00]: He'll do the cash out refinance.
• 58:56
  [SPEAKER_00]: He'll make like $20,000 off of it.
• 58:58
  [SPEAKER_00]: It's cash flows about $2,000 a month.
• 59:00
  [SPEAKER_00]: So a phenomenal deal right there.
• 59:02
  [SPEAKER_00]: First deal for him.
• 59:05
  [SPEAKER_00]: And so he wants to eventually leave his job.
• 59:08
  [SPEAKER_00]: That's the goal.
• 59:08
  [SPEAKER_00]: And so I said for your first one, let's not even deal with the houses.
• 59:10
  [SPEAKER_00]: go for the four unit and you can find a four you know under a hundred thousand dollars and so I love that he did that because a lot of people doubt the process they're like I can't find a property for a hundred thousand dollars anywhere they're out there you just need to know how to find them and they're usually off market what about property manager do you like for you know the massive portfolio you got do you use utilize property managers for every single one of them
• 59:33
  [SPEAKER_00]: So I have an in-house property manager now, but I've always self-managed.
• 59:36
  [SPEAKER_00]: So because when I got into this industry, I really saw it from a long-term perspective of I want to own $100 million a real estate.
• 59:46
  [SPEAKER_00]: I want to own maybe 300 500 apartments and so in order to get to that place, I'm going to have to have my own property manager.
• 59:51
  [SPEAKER_00]: I can't outsource that because when you outsource property management, they charge you about 10% every single month to manage those properties.
• 59:58
  [SPEAKER_00]: If you do the math and you have 300 apartments, that's a lot of money that you're paying them.
• 1:00:02
  [SPEAKER_00]: So I was like, I want to have always somebody in-house, but before I get to a point of doing that, I ain't to learn what I'm going to bring somebody in to do.
• 1:00:10
  [SPEAKER_00]: So I self-manage until I own about 80 rentals, brought somebody in about two months ago, and they work full time down the business, just managing properties.
• 1:00:18
  [SPEAKER_00]: Now, you can always outsource and pay the 10% a month, B, but it adds up because if you're cashling, let's say 400 bucks a month off of a property and it's rented out, let's say $100,000, $500 a month.
• 1:00:31
  [SPEAKER_00]: You would pay that property manager, $150 just because they collected rent.
• 1:00:36
  [SPEAKER_00]: So now instead of you making $400, you're making $200, $200.
• 1:00:38
  [SPEAKER_00]: So by in-house, you mean
• 1:00:45
  [SPEAKER_00]: Yes, so my brother's wife actually came on board and now she's full time in the business that's her silo of the business and she just manages all the times.
• 1:00:54
  [SPEAKER_03]: Wow you know I don't know if you ever had a moment to think back you know like you go out your journey you start off an army did that for a few years got deployed all kinds of countries come back go to school to be an attorney seven plus years
• 1:01:13
  [SPEAKER_03]: you working in the field two years, you decide to downsize your living, move to an entire different state that you don't have any family in, investments of properties like these properties are.
• 1:01:29
  [SPEAKER_03]: extremely high as far as, you know, monthly payment, same things like that.
• 1:01:32
  [SPEAKER_03]: So like, the overhead could be high, you know, if you do it incorrectly, and then, you know, you tell your brother six months down the line, hey, listen, I'm actually investing in these properties, and now I have about eight units that I just wrapped up, fast forward, he buys his first two, and then now it's an entire family business, because of
• 1:01:59
  [SPEAKER_03]: Like, shit, I really think about it like that.
• 1:02:01
  [SPEAKER_00]: You know, I always say there really is always be somebody in their family.
• 1:02:05
  [SPEAKER_00]: That's like, I'm done living in this poverty situation.
• 1:02:10
  [SPEAKER_00]: And I'm not only going to find a way out for me, but it's going to be my entire family because having money is great, but having money with your families even better.
• 1:02:19
  [SPEAKER_00]: I love the fact that I'm a millionaire, but so is my brother.
• 1:02:22
  [SPEAKER_00]: And that's my best friend.
• 1:02:24
  [SPEAKER_00]: And I love the fact that I can say not a single person in my family works for anybody else.
• 1:02:29
  [SPEAKER_00]: My mom's retired, my dad works for the company, my sister-in-law's in the company.
• 1:02:33
  [SPEAKER_00]: My nieces, they're seven years old, they own wash and dries that are department buildings.
• 1:02:38
  [SPEAKER_00]: It's such a beautiful thing to see that because that really is generational wealth.
• 1:02:42
  [SPEAKER_00]: We're changing not only our generation, the generation to follow, but also the generation to bud by taking care of our parents.
• 1:02:48
  [SPEAKER_00]: Yeah.
• 1:02:48
  [SPEAKER_00]: What's the blessing?
• 1:02:49
  [SPEAKER_03]: What's next?
• 1:02:51
  [SPEAKER_00]: Continue building it up.
• 1:02:52
  [SPEAKER_00]: Yeah.
• 1:02:52
  [SPEAKER_00]: I think the goal is really to have a $100 million portfolio at the least.
• 1:02:56
  [SPEAKER_00]: Really build up something that is going to reflect the legacy that we want to have.
• 1:03:01
  [SPEAKER_00]: Or we're showing people that poverty can end with you and you can change the outcome your destination And you can do it through real estate.
• 1:03:09
  [SPEAKER_00]: I just hope it's a story that people can relate to.
• 1:03:11
  [SPEAKER_00]: They can see that it's possible Yeah, and we'll work hard and we'll sacrifice to get to that point.
• 1:03:16
  [SPEAKER_00]: It's not gonna be easy If I was simple, it's easy to say, you know, I want to go ahead and and build this portfolio up But that's a goal make it something massive where people really have to stop and see wow
• 1:03:27
  [SPEAKER_00]: These minorities, they own real estate.
• 1:03:29
  [SPEAKER_00]: This much real estate.
• 1:03:30
  [SPEAKER_00]: I want it to be unheard of because you don't way, don't see that in this space.
• 1:03:34
  [SPEAKER_03]: That's, that's good to hear you.
• 1:03:36
  [SPEAKER_01]: That's true.
• 1:03:37
  [SPEAKER_01]: Not, that was a journey.
• 1:03:38
  [SPEAKER_01]: It really wasn't a journey.
• 1:03:40
  [SPEAKER_01]: Last thing I did want to actually two was like, you know, today in today's world, we got AI and everybody's utilizing AI.
• 1:03:48
  [SPEAKER_01]: Some way, somehow.
• 1:03:50
  [SPEAKER_01]: How are you using it for your, you know, especially for your business, the portfolio
• 1:03:57
  [SPEAKER_00]: So AI, I use it in two ways.
• 1:03:59
  [SPEAKER_00]: One, it analyzes most of my deals now.
• 1:04:01
  [SPEAKER_00]: So I can just put numbers in it.
• 1:04:02
  [SPEAKER_00]: It'll tell me if it's profitable or not.
• 1:04:05
  [SPEAKER_00]: I love that aspect of it.
• 1:04:06
  [SPEAKER_00]: And number two, it helps us along the property management side, because it handles now all the communications with tenants.
• 1:04:11
  [SPEAKER_00]: So I don't have to worry about, how do I sound professional?
• 1:04:14
  [SPEAKER_00]: How do we actually take into account local laws to make sure that we're abiding by what the legal system tells us that we have to do as landlords and so we're utilizing now AI and that aspect which is pretty cool.
• 1:04:26
  [SPEAKER_00]: The good thing about AI is that it helps in real estate but it'll never replace a landlord itself.
• 1:04:31
  [SPEAKER_00]: So it definitely adds to the business, but we still have to do a good chunk of the work because it just requires to be there physically.
• 1:04:38
  [SPEAKER_03]: Do you mind sharing a secret like size that you use when it comes to AI and using AI to grow your business?
• 1:04:44
  [SPEAKER_03]: You're real estate business, huh?
• 1:04:45
  [SPEAKER_00]: Yeah, so I would say one of the best ones that I like the most is called chat ARV.AI.
• 1:04:51
  [SPEAKER_00]: That is a website where you can put in a property address and it'll tell you what their property will be worth once it's renovated.
• 1:04:56
  [SPEAKER_00]: So instead of you going out and trying to figure out and looking at data from Zillo and trying to see what are properties that are renovating where they're selling for, you can just put in the address right there, and it'll tell you what they're selling for, and that way you can say, okay, well, I got to only, I got to offer 70% of this amount, easy math.
• 1:05:12
  [SPEAKER_00]: Normally, I would spend an hour trying to figure out how much it might sell for, and I could just put an address and it'll tell me what it'll be worth, and then I can go ahead and have an offer within minutes.
• 1:05:20
  [SPEAKER_03]: Wow.
• 1:05:21
  [SPEAKER_01]: That's crazy.
• 1:05:22
  [SPEAKER_01]: I never heard about that one.
• 1:05:23
  [SPEAKER_03]: Me either.
• 1:05:24
  [SPEAKER_01]: Check your RV.
• 1:05:25
  [SPEAKER_03]: I'll tell you about a say chat.
• 1:05:26
  [SPEAKER_03]: GPT.
• 1:05:29
  [SPEAKER_01]: I would try to GPT too, but try your RV.
• 1:05:31
  [SPEAKER_01]: It's way better.
• 1:05:32
  [SPEAKER_01]: Okay.
• 1:05:34
  [SPEAKER_01]: On online, it was a debate where people were saying, like, you know, is it a good investment to buy a house from your perspective as a, as a, you know, as a real estate investor?
• 1:05:47
  [SPEAKER_01]: Do you think?
• 1:05:49
  [SPEAKER_01]: someone buying a house is a good investment.
• 1:05:53
  [SPEAKER_00]: It's never an investment to buy your own house.
• 1:05:56
  [SPEAKER_00]: I'll tell you this.
• 1:05:58
  [SPEAKER_00]: I owned roughly eight properties before I bought my house.
• 1:06:04
  [SPEAKER_00]: So I'm made sure I didn't come from coming in that could then allow me to have the house that I want to have and to pay that mortgage.
• 1:06:10
  [SPEAKER_00]: A lot of times people buy houses until liability.
• 1:06:13
  [SPEAKER_00]: That's the truth.
• 1:06:14
  [SPEAKER_00]: Your house is a liability more than anything, it's not an asset.
• 1:06:16
  [SPEAKER_00]: So for us, go focus on buying assets and then go ahead and have the assets get for your liabilities.
• 1:06:21
  [SPEAKER_00]: I believe that.
• 1:06:22
  [SPEAKER_03]: That's good.
• 1:06:23
  [SPEAKER_03]: That's good.
• 1:06:23
  [SPEAKER_03]: And then what do you do for fun by the way?
• 1:06:26
  [SPEAKER_03]: I mean, I just seen you just coughed a nice little lime green Spaceship, you know, how would you do for fun?
• 1:06:33
  [SPEAKER_00]: I'd rather than clear it around enough.
• 1:06:36
  [SPEAKER_00]: I go to church
• 1:06:38
  [SPEAKER_00]: That's a big part of my life.
• 1:06:39
  [SPEAKER_00]: My faith is what really has gotten me here.
• 1:06:42
  [SPEAKER_00]: So I love going to church on Sundays.
• 1:06:43
  [SPEAKER_00]: I got a good group of girls that I go to church with.
• 1:06:46
  [SPEAKER_00]: I love spending time with family.
• 1:06:47
  [SPEAKER_00]: Even though we work together, you'd be surprised.
• 1:06:49
  [SPEAKER_00]: We hang out on the weekends together.
• 1:06:51
  [SPEAKER_00]: I love being an active aunt.
• 1:06:53
  [SPEAKER_00]: I work out.
• 1:06:54
  [SPEAKER_00]: I'm a dog mom.
• 1:06:57
  [SPEAKER_00]: That's really it.
• 1:06:57
  [SPEAKER_00]: My main hobby is working, but I've got a few side hobbies there.
• 1:07:03
  [SPEAKER_03]: That's good.
• 1:07:03
  [SPEAKER_03]: That's good.
• 1:07:04
  [SPEAKER_03]: I love to hear it.
• 1:07:05
  [SPEAKER_02]: You know, work hard and also play play.
• 1:07:09
  [SPEAKER_03]: Have fun with it as well.
• 1:07:10
  [SPEAKER_03]: You know, because it's a journey.
• 1:07:12
  [SPEAKER_03]: You got to enjoy it.
• 1:07:13
  [SPEAKER_03]: You know, so it's definitely good.
• 1:07:16
  [SPEAKER_01]: And most of the time, most people, they want to have that fun early on.
• 1:07:18
  [SPEAKER_01]: You know, you, you, especially being young, you was able to, to, to kind of, for me, like stay frugal, which is something that,
• 1:07:26
  [SPEAKER_01]: So a guy who we we we we interview him probably like a few weeks ago he had a similar story where he was like Y'all was young.
• 1:07:32
  [SPEAKER_00]: I was just saving my money like I was trying to get that first real estate property I didn't care about that announced so to to actually to have that discipline to do that early on It's not easy Yeah, you know what I've always heard that your 30s are always way funer than your 20s because you're actually gonna have money and so my 20s I saw people having fun and I was like, yeah, I'm gonna have more fun in my 30s
• 1:07:55
  [SPEAKER_00]: And she got turned 30 last year.
• 1:07:57
  [SPEAKER_00]: I'll be 31 in August of this year.
• 1:07:59
  [SPEAKER_00]: But I've seen how life has changed.
• 1:08:01
  [SPEAKER_00]: And it was so worth being frugal in my 20s.
• 1:08:03
  [SPEAKER_00]: And not going to the clothes, being the sexiest buying the bottle because then you have that to be honest.
• 1:08:09
  [SPEAKER_00]: And out of you in a position where I can be, you know what, I want a car.
• 1:08:12
  [SPEAKER_00]: I want to have fun.
• 1:08:12
  [SPEAKER_00]: I want to travel.
• 1:08:14
  [SPEAKER_00]: And so at 30s, I think are going to be way more fun than I've ever had in my life.
• 1:08:18
  [SPEAKER_03]: So now let me actually request you because you said a house is a liability.
• 1:08:21
  [SPEAKER_03]: Did you use a property to cover the McLaren like, so that way you can have your fun?
• 1:08:28
  [SPEAKER_00]: Yeah, so I always had a goal that once I got to 75 rentals, I would buy my dream car.
• 1:08:33
  [SPEAKER_03]: Wow.
• 1:08:34
  [SPEAKER_00]: So the property's generate enough money to pay for now the McLaren.
• 1:08:39
  [SPEAKER_03]: Wow.
• 1:08:40
  [SPEAKER_00]: So I wanted the car always, but there's a point where you got to read it.
• 1:08:44
  [SPEAKER_00]: I have enough assets to cover on my liability.
• 1:08:45
  [SPEAKER_00]: And my car is definitely one of the liabilities.
• 1:08:48
  [SPEAKER_00]: But now the business is in a position where it can afford to do that.
• 1:08:51
  [SPEAKER_03]: You know what's so crazy.
• 1:08:52
  [SPEAKER_03]: We interviewed a real estate investor.
• 1:08:55
  [SPEAKER_03]: His name is Charles.
• 1:08:56
  [SPEAKER_03]: I don't think Charles bought away.
• 1:08:58
  [SPEAKER_03]: And he has a lot of toys.
• 1:09:01
  [SPEAKER_03]: He has a lot of toys.
• 1:09:02
  [SPEAKER_03]: And he was like, I'm like, pro like, so when it comes to buying a made back, like how do you do it?
• 1:09:07
  [SPEAKER_03]: He's like, well, first since first, you got to get a property to buy a made back.
• 1:09:12
  [SPEAKER_03]: And then secondly, you got to get another property.
• 1:09:15
  [SPEAKER_03]: to have a driver because you have to have a driver with the big back so it's like all right cool you know like
• 1:09:23
  [SPEAKER_00]: don't go out here for a busy spending but definitely have the access to cover your ass you know because you know those are cars that at the end of the day one multi-filling property could pay for that you just got to go out by the property first renovated rented out and then once it's rented out then you can go out by the toy because now it's covered that's good stuff and you you ever you ever like surprise like especially since you're going to
• 1:09:53
  [SPEAKER_01]: And you know, real estate, I say is like, I know it's probably a lot more men in the field.
• 1:10:00
  [SPEAKER_01]: Like you ever went to a deal and it's like, you surprise someone and they're like, you know, have you ever gotten to anything like that?
• 1:10:09
  [SPEAKER_00]: Till this day, people think I'm the realtor, or they think I'm like a representative of the company.
• 1:10:14
  [SPEAKER_00]: And I just think it's funny at this one.
• 1:10:16
  [SPEAKER_00]: I'm like I'm the owner.
• 1:10:17
  [SPEAKER_00]: Sure, keep it like so You know again though.
• 1:10:20
  [SPEAKER_00]: I have a point to prove now and that's why I'm so I'm in about building up the portfolio because people aren't used to seeing women Even more so Hispanic women that look like me at this field actually being the owners and so they're just proving that I'm on the right track I got a lot of work to do and a lot of things are proven this industry because people will still think that way They expect they'll white me in a come up and it'll be like I'm the owner of that property
• 1:10:42
  [SPEAKER_01]: Yeah, I'm like this one, yeah, yeah, that is what you know, sometimes some people too, they're like, you know, they'll pull up in like a, it's this real stay guy on Instagram.
• 1:10:53
  [SPEAKER_01]: He's like, and he told him going to a site, a pull up in a worst car possible, you know, just look completely like like he has like basically like he doesn't want people to think.
• 1:11:05
  [SPEAKER_01]: He's got it.
• 1:11:06
  [SPEAKER_01]: You could just spend it like you could go and raise the price or some like 100%.
• 1:11:10
  [SPEAKER_00]: Yeah, no, I'm not allowed to take them a clear into any price.
• 1:11:15
  [SPEAKER_00]: I'm like prohibited from doing that.
• 1:11:17
  [SPEAKER_03]: Imagine picking up right in it.
• 1:11:19
  [SPEAKER_00]: Then they won't pay right in.
• 1:11:21
  [SPEAKER_00]: They're like, you know what I'm saying?
• 1:11:22
  [SPEAKER_00]: You're going to afford to have me here.
• 1:11:24
  [SPEAKER_00]: That's right.
• 1:11:27
  [SPEAKER_03]: Wow, that's actually funny.
• 1:11:29
  [SPEAKER_03]: I'll not go front.
• 1:11:30
  [SPEAKER_03]: But all the
• 1:11:32
  [SPEAKER_03]: tell us more like how can the people learn from you how can they work with you you know you've gave a lot of game you've gave a lot of gems and you really broke this thing down absolutely to the point where it's like I'm sure people are going to be asking yeah if people want more strategy more resources I host a master class every Thursday on that class
• 1:11:51
  [SPEAKER_00]: at 7 p.m.
• 1:11:52
  [SPEAKER_00]: I worked down for an entire hour.
• 1:11:54
  [SPEAKER_00]: This entire strategy even more.
• 1:11:57
  [SPEAKER_00]: So I give away free game as you can see.
• 1:11:59
  [SPEAKER_00]: I'll tell you who the lenders are.
• 1:12:00
  [SPEAKER_00]: I'll tell you how to go about fighting properties, which markets to choose.
• 1:12:03
  [SPEAKER_00]: So if you really want to understand it more, definitely tapping on those classes, you can also find me on Instagram at Cindy West Under Score.
• 1:12:10
  [SPEAKER_00]: I post content there almost every single day.
• 1:12:13
  [SPEAKER_00]: I post the lenders that I use.
• 1:12:14
  [SPEAKER_00]: I post the deals that I'm seeing and now we are really believe that this should be accessible to people and more people need to really know the strategy and so I'm all about giving it out if people can see what it's like and then if from there you want to take that next step forward and really go ahead and have a plan about three to five rentals in a year.
• 1:12:30
  [SPEAKER_00]: Send me a message.
• 1:12:31
  [SPEAKER_00]: I'm happy to get you there.
• 1:12:32
  [SPEAKER_03]: let's get it.
• 1:12:32
  [SPEAKER_03]: Let's go.
• 1:12:34
  [SPEAKER_03]: Well, Sydney, I definitely enjoyed today's conversation.
• 1:12:38
  [SPEAKER_03]: You know, I learned a lot from this conversation.
• 1:12:41
  [SPEAKER_03]: I always learned a lot from these conversations, by the way.
• 1:12:44
  [SPEAKER_03]: And I haven't had, we haven't spoke to anybody that talks about the burst strategy when it comes to real estate investing.
• 1:12:52
  [SPEAKER_03]: And you definitely did a great job breaking it down today for sure, for sure, for sure.
• 1:12:56
  [SPEAKER_03]: Yeah.
• 1:12:56
  [SPEAKER_03]: Yeah.
• 1:12:57
  [SPEAKER_00]: I appreciate you guys having me.
• 1:12:58
  [SPEAKER_00]: That's honestly, it's an honor.
• 1:12:59
  [SPEAKER_03]: Thank you.
• 1:13:00
  [SPEAKER_03]: Thank you.
• 1:13:00
  [SPEAKER_03]: Any words for you, bro?
• 1:13:01
  [SPEAKER_01]: No, this was a really good one.
• 1:13:02
  [SPEAKER_01]: You know, I got that.
• 1:13:03
  [SPEAKER_01]: Like you said, like Sydney broke it down super easy, super simple.
• 1:13:08
  [SPEAKER_01]: And I definitely know that people getting to have free masterclass, you know, they're going to, they're going to learn a whole lot.
• 1:13:13
  [SPEAKER_01]: So definitely, you know, I'm excited for this one to drop in, you know, the message to be spread because
• 1:13:20
  [SPEAKER_01]: There's a lot of game facts.
• 1:13:21
  [SPEAKER_01]: This was our master class by the way.
• 1:13:23
  [SPEAKER_03]: We were able to be selfish and X our own questions.
• 1:13:26
  [SPEAKER_03]: Now you guys joined the master class in the actual own questions.
• 1:13:30
  [SPEAKER_03]: But yes, y'all, go ahead and like, comment, share and subscribe.
• 1:13:33
  [SPEAKER_03]: And I'll see you guys on the next episode.
• 1:13:35
  [SPEAKER_03]: Peace.