Latest / Earn Your Leisure / EYL #196 Real Estate Fix and Flip Investing with Beyond Wynn

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EYL #196 Real Estate Fix and Flip Investing with Beyond Wynn · Earn Your Leisure

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  Speaker 2: One of the.
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  Speaker 4: Biggest mistakes people make is you can't buy a building
• 1:53
  Speaker 4: for one hundred thousand in New York or LA. So
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  Speaker 4: this person sent me to building. I bought it because
• 1:59
  Speaker 4: I can't buy it at You need to understand that
• 2:02
  Speaker 4: market before you just say it's a good deal. Because
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  Speaker 4: in LA I can't do it. In New York, I
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  Speaker 4: can't do it. So so many people have reached out
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  Speaker 4: to me after they bought a building in Cleveland for
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  Speaker 4: a one hundred thousand on the street where it ain't
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  Speaker 4: no other property on the street except that building, and
• 2:15
  Speaker 4: then also not properly vetting the people that they want
• 2:18
  Speaker 4: to do business with. They looking at social media and
• 2:21
  Speaker 4: they looking at somebody's lifestyle, and I tell people, like,
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  Speaker 4: somebody's lifestyle can't put food on the table for you
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  Speaker 4: and your kids.
• 2:30
  Speaker 5: My graduates from my school being forced back drop b drop, Mike, drop,
• 2:37
  Speaker 5: back drop drop.
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  Speaker 6: All right, guys, welcome back, e y l. This is
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  Speaker 6: a very legendary episode. Before it starts, I'll get the
• 2:57
  Speaker 6: background on it. So beyond when, And that's your real
• 3:01
  Speaker 6: government name, right, No, oh, it's not your government name.
• 3:04
  Speaker 4: It's not my government. You learned something new every day.
• 3:06
  Speaker 4: I thought that was just.
• 3:10
  Speaker 6: It was crazy. I knew that I knew him for
• 3:12
  Speaker 6: like four years, and I always thought that. I was like,
• 3:14
  Speaker 6: that's a crazy name to have.
• 3:15
  Speaker 2: All right, well, we'll get to that.
• 3:19
  Speaker 6: But beyond when is what the world knows the mess
• 3:21
  Speaker 6: And I'm not sure the first time I met you,
• 3:25
  Speaker 6: but I do remember you was at the first event
• 3:29
  Speaker 6: that we had in Atlanta, the first like paid event
• 3:32
  Speaker 6: that we had in Atlanta. It was a two day
• 3:34
  Speaker 6: event was it was a live podcast one day and
• 3:37
  Speaker 6: then it was another day after Dave shan Spot and
• 3:41
  Speaker 6: I do remember being there, but I think we had
• 3:43
  Speaker 6: connected before that.
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  Speaker 4: We met at Matt's first event and yeah, yep, shout
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  Speaker 4: out to MG the mortgage card.
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  Speaker 6: That's how we met. So that was actually I met
• 3:52
  Speaker 6: a lot of people that I met to being I
• 3:54
  Speaker 6: met business. Yeah, I definitely I met you there as well.
• 3:59
  Speaker 6: I met your main So I met him and he's
• 4:04
  Speaker 6: been somebody that we've developed a very close relationship with,
• 4:07
  Speaker 6: and he's one of these people that always just shows
• 4:10
  Speaker 6: love like number one support when it comes to the merch.
• 4:14
  Speaker 4: I'm gonna get you a lifetime package.
• 4:17
  Speaker 6: Because every time I see him on the gram. He
• 4:19
  Speaker 6: got the assets over a liability shirt. All the events
• 4:23
  Speaker 6: that we have, he always comes to all the events.
• 4:26
  Speaker 6: We was just talking about.
• 4:27
  Speaker 2: London, We came to Atlanta and you had an event.
• 4:30
  Speaker 6: At the rooftop at Yeah that was but even deeper
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  Speaker 6: than that, he's just consistently been adding value on real
• 4:38
  Speaker 6: estate for a long time, and specifically real estate in Cleveland.
• 4:42
  Speaker 6: So he teaches you like how to find properties, how
• 4:46
  Speaker 6: to renovate properties, flip properties, whole property, like the whole thing.
• 4:50
  Speaker 6: And it's been very consistent for like a very long
• 4:54
  Speaker 6: time on social media. And he actually does these things
• 4:56
  Speaker 6: where he takes people on tours and like he'll take
• 4:59
  Speaker 6: your in the neighborhood and show you like this is
• 5:01
  Speaker 6: a house and this is a bad house about and
• 5:04
  Speaker 6: kind of give you like a real in person experience.
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  Speaker 2: It's like a friend of the show.
• 5:09
  Speaker 3: Jacob Lattimore. Shout out to Jaco Lattimore. He's like, yo,
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  Speaker 3: I linked Beyond. I got some houses.
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  Speaker 6: Yeah, a few people. I think they have told me that.
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  Speaker 6: So I say that to say everything happens in devon
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  Speaker 6: time and right now, we haven't talked about real estate
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  Speaker 6: too much because shout out to MG the Morrige guy,
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  Speaker 6: he got to show rans and gyms, but we talk
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  Speaker 6: about it from time to time. And I feel like
• 5:30
  Speaker 6: this is a great time to have the real estate
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  Speaker 6: conversation because interest rates to Scott high. Right now. The
• 5:37
  Speaker 6: stock market is down, crypto is down, but real estate
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  Speaker 6: hasn't hasn't really fallen yet, so a lot of people
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  Speaker 6: are kind of nervous. They're like, well, when it's real
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  Speaker 6: estate gonna fall. It's a housing shortage in America, that's
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  Speaker 6: what they're saying. So rent prices are up, especially in
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  Speaker 6: our in our neighborhoods, like rent is going crazy right
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  Speaker 6: now New York City, this is as well. So real
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  Speaker 6: estate is now a hot topic. Again. Everything kind of
• 6:00
  Speaker 6: works in cycles, like stocks and crypto kind of down
• 6:04
  Speaker 6: right now, but real estate is a hot topic. So
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  Speaker 6: we're gonna have a real estate show. And I hit
• 6:07
  Speaker 6: up du Line and I'm like, yo, let's let's get
• 6:09
  Speaker 6: beyond him. He's like, I'm a hit him and that
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  Speaker 6: was like last week.
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  Speaker 2: I'm like, for sure Monday.
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  Speaker 6: So you hear me like, yo, I've seen the schedule
• 6:19
  Speaker 6: and he's like I'm like, oh, we got He's like
• 6:21
  Speaker 6: I'm like that fast. He's like yeah ready, I'm like
• 6:24
  Speaker 6: all right, let's do it. So this is a long
• 6:26
  Speaker 6: time coming. And first of all, most I want to
• 6:28
  Speaker 6: thank you for your for your support and for showing
• 6:31
  Speaker 6: us love for over probably three years now, since the
• 6:33
  Speaker 6: beginning of earning your leisure, have been a very very
• 6:38
  Speaker 6: loyal friend, loyal supporter, So thank you for that.
• 6:40
  Speaker 4: You're welcome, and.
• 6:41
  Speaker 2: Thank you for inviting us to your day party. I
• 6:44
  Speaker 2: know again.
• 6:44
  Speaker 3: I got a text message like we're going to day party.
• 6:46
  Speaker 3: I'm like, I bet I'm coming with my trunks, Like, nah,
• 6:48
  Speaker 3: it's not that type of day party.
• 6:50
  Speaker 2: It's a different one. So welcome to our day party.
• 6:53
  Speaker 2: Thanks for having me.
• 6:54
  Speaker 3: If those not uh Beyonna is a fitness I'm gonna
• 6:58
  Speaker 3: call you a fitness gurul because I watch your work
• 7:00
  Speaker 3: else and I take some things from you.
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  Speaker 6: He gets busy and champion, and he's a family man.
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  Speaker 6: He got his whole family.
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  Speaker 2: With him to the family clap it off for yourselves
• 7:07
  Speaker 2: there in the building. Yeah the audience.
• 7:12
  Speaker 6: Yeah, yes, they brought the family to the trap House.
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  Speaker 6: So all right, so let's get into this. I want
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  Speaker 6: to talk about real estate. But before I want to
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  Speaker 6: go back into the you told me briefly one time
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  Speaker 6: at dinner how you actually got started in real estate,
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  Speaker 6: and it was it's a very interesting story. Can you
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  Speaker 6: tell Can you tell us how you got started in
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  Speaker 6: real estate?
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  Speaker 4: I can't. First of all, thanks for having me. It's
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  Speaker 4: a pleasure to be sitting here in the trap house.
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  Speaker 6: Appreciate it.
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  Speaker 3: Why you call this the trap house because everything's happening
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  Speaker 3: more than trapping.
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  Speaker 6: It gets trap house vibes in the basement.
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  Speaker 4: Before I share how I started, I have to give
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  Speaker 4: a shout out to Jermaine Miller.
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  Speaker 6: Shout out to Jamaina.
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  Speaker 4: Jermaine Miller reached out to me a couple of years
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  Speaker 4: ago on social media, sent me a private message on
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  Speaker 4: Facebook saying that he wanted to connect with me offline,
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  Speaker 4: wanted to build a relationship. Connect with me offline. That's
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  Speaker 4: how I actually wrote my first book, because me and
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  Speaker 4: Jermaine start getting on the phone every Thursdays just talking
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  Speaker 4: about how we can help each other family, business, etc.
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  Speaker 4: And then one day he connected me with Matt. That's
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  Speaker 4: how I met Matt MG, the mortgage guy, and then
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  Speaker 4: that's how we connected at matt first event. So Jamai
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  Speaker 4: Miller is a super special human being. Like he just
• 8:27
  Speaker 4: a special human being. I think he sent me like
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  Speaker 4: sixty books within a like a two month period. He
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  Speaker 4: just said, you know, he started connected with me online.
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  Speaker 4: He's like, God told me that you my brother, I
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  Speaker 4: need to reach out to you. He said. I know
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  Speaker 4: that may sound weird, but I'm just following what God
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  Speaker 4: told me.
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  Speaker 2: So I appreciate you.
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  Speaker 4: So, how I got started in real estate as a teenager,
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  Speaker 4: I used to work with my grandfathers and uncles. My
• 8:53
  Speaker 4: grandfather had a construction company and they used to build houses.
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  Speaker 4: I used to help them paint and do a lot
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  Speaker 4: carpentry work. I hated it, but that was my first exposure.
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  Speaker 4: And funny, I never thought about that on my journey
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  Speaker 4: until I was on my federal sabbatical.
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  Speaker 2: And I like that.
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  Speaker 4: So on my federal sabbatical, you know, you ain't got
• 9:18
  Speaker 4: nowhere to go, so you got time, and I just
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  Speaker 4: started thinking, reflecting back on my life, I'm like, this
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  Speaker 4: is how I actually got introduced to real estate. This
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  Speaker 4: was my first exposure to real estate was working with
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  Speaker 4: my grandfather and my uncle's and I hated it. So
• 9:33
  Speaker 4: when I got in got into the streets, you know,
• 9:36
  Speaker 4: I was looking for, you know, love and acceptance. So
• 9:39
  Speaker 4: I went to the streets, gangs, drugs, et cetera. And
• 9:43
  Speaker 4: when I started to kind of get in tune paying
• 9:47
  Speaker 4: attention to how I felt, basically meaning that the activities
• 9:51
  Speaker 4: that I was involved in never lined up with my
• 9:53
  Speaker 4: heart and it wouldn't it wouldn't leave, so it kept
• 9:56
  Speaker 4: tugging at me and so figure out something else. And
• 10:01
  Speaker 4: so that was the first thing that came to my
• 10:02
  Speaker 4: mind because a friend of mine, one of my sponsors,
• 10:06
  Speaker 4: he was doing real estate, and so he introduced me
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  Speaker 4: to real estate. I got a mentor and he walked
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  Speaker 4: me through a few projects. That's how I got started.
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  Speaker 6: So you're in Cleveland, Ohio, and that's a hot market. Surprisingly,
• 10:24
  Speaker 6: I don't think people would really realize that, but it's
• 10:26
  Speaker 6: a hot market, right, So I'm interested to know we
• 10:32
  Speaker 6: talk about like real estate in Cleveland, what is like
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  Speaker 6: if what's the average price of a home for uninvestment
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  Speaker 6: property in Cleveland that people can look at to say, okay,
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  Speaker 6: this is a good deal. The average property two family,
• 10:51
  Speaker 6: two family, it's a multi family, a multifamily, up and
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  Speaker 6: down rehab tenant in place about ninety thousand average, all right,
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  Speaker 6: So with the ninety thousand, and that's without having to
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  Speaker 6: do any work on it, that's ready rhetor reating tended
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  Speaker 6: in place under professional property management ninety thousand.
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  Speaker 4: What kind of rent is that yielding about thirteen to
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  Speaker 4: fifteen hundred a month, depends on if it's a cash
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  Speaker 4: tenant or a government tendant like eating or Section eight.
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  Speaker 3: So when you do it, your first deal, right, So
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  Speaker 3: I'm wonna go back to that piece. When you're doing
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  Speaker 3: your first deal, obviously are you assessing proper? Do you
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  Speaker 3: know how to assess properties? You know values? Do you
• 11:30
  Speaker 3: know how to say, all right, we're going to renovate
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  Speaker 3: this and we know? Like what was that process like
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  Speaker 3: of you.
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  Speaker 4: Learning when I did my first deal. When I did
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  Speaker 4: my first deal, my mentor walked me through it step
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  Speaker 4: by step. So he basically start sending me lists of
• 11:44
  Speaker 4: properties and then he showed me how he picked the
• 11:47
  Speaker 4: properties and the neighborhoods. Then we started to go out
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  Speaker 4: and look at properties.
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  Speaker 2: Yeah, what are some of the key things you're looking at?
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  Speaker 4: So so it depends on your strategy. So just when
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  Speaker 4: I first started, it was fixed and flip. So what
• 12:01
  Speaker 4: we were looking at was the areas, the areas in
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  Speaker 4: Cleveland that we could buy properties for and we can
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  Speaker 4: sell them. Around that time, inner city properties in Cleveland,
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  Speaker 4: single families, three three ones were going for eighty to
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  Speaker 4: ninety thousand dollars. So my first property, I believe I
• 12:20
  Speaker 4: was all in for around forty thousand dollars. So what
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  Speaker 4: knowing like say today, so knowing that the two families
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  Speaker 4: turnkey rented rehab go for ninety thousand dollars if anything
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  Speaker 4: under that you knowing that you've got a good deal.
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  Speaker 4: It depends on your exit strategy and why you really
• 12:39
  Speaker 4: really want the property because you know that the top
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  Speaker 4: number is ninety.
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  Speaker 2: And so you just work backwards acquities built in.
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  Speaker 4: Correct, we're not paying ninety's what that's what we sell them.
• 12:51
  Speaker 4: That's what we sell them for.
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  Speaker 2: Gotcha all right?
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  Speaker 6: So let's get into some real estate convo. Are you
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  Speaker 6: put a post up the other day about earnest money?
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  Speaker 6: What is that? Why is that important?
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  Speaker 4: Earnest money? It shows that you're serious, Like you basically
• 13:05
  Speaker 4: use earnest money to tie tie property up and unless
• 13:09
  Speaker 4: the seller know that you're serious and y'all have a
• 13:11
  Speaker 4: binding contract, so that way they stop marketing the property
• 13:15
  Speaker 4: because you are under contract. So your earnest money shows
• 13:17
  Speaker 4: how serious you are. So for me personally, I know
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  Speaker 4: that it's a lot of people in the market. I
• 13:26
  Speaker 4: think a lot of people are in a way or
• 13:28
  Speaker 4: whatever the case is. So I start to look at
• 13:30
  Speaker 4: how can I stand out or how can we stand
• 13:33
  Speaker 4: out from the crowd. And one of the best ways
• 13:36
  Speaker 4: to stand out from the crowd is putting up a
• 13:39
  Speaker 4: large earnest money deposit. It makes you stand out. So
• 13:42
  Speaker 4: I just look at it from the standpoint if you
• 13:44
  Speaker 4: buying a property for me, what are the things that's
• 13:46
  Speaker 4: going to make you stand out to me? So I
• 13:49
  Speaker 4: just reversed that. So when I'm buying properties from a
• 13:52
  Speaker 4: regular homeowner or even a bank, I want to put
• 13:54
  Speaker 4: down a large earnest money deposit so you can stop
• 13:57
  Speaker 4: looking at the other offers and you can look at minds.
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  Speaker 3: So like if if the house is ninety, just to
• 14:02
  Speaker 3: say you're like, all right, well I'm gonna put fifty down.
• 14:04
  Speaker 3: I'm gonna put as large as much as possible so
• 14:06
  Speaker 3: I stand out for the rest. And this is serious,
• 14:08
  Speaker 3: not that just hypothetically.
• 14:09
  Speaker 4: Okay, yeah, yeah, well fifty would be like the whole.
• 14:12
  Speaker 2: That's not righting. It's one of the almost sixty per
• 14:13
  Speaker 2: cent of it.
• 14:14
  Speaker 4: See, I wouldn't have a problem doing that. Here here's
• 14:18
  Speaker 4: the thing, a couple of things. One, most people don't
• 14:22
  Speaker 4: put down earnest money because they go through programs where
• 14:25
  Speaker 4: people told them that you need no money, you need
• 14:27
  Speaker 4: no credit, you need no hustle, no knowledge, like you
• 14:30
  Speaker 4: don't need anything. So most of the people are trained
• 14:33
  Speaker 4: to get something for nothing. So it's a lot of
• 14:36
  Speaker 4: those people in the market. So that's why when we
• 14:39
  Speaker 4: come to the table, we stand out. So you may
• 14:43
  Speaker 4: have got one hundred letters or one hundred people called
• 14:45
  Speaker 4: you about you wanting to sell your property that you
• 14:49
  Speaker 4: inherited or however you got it, but when you speak
• 14:52
  Speaker 4: to us or somebody from our team, we're gonna stand
• 14:54
  Speaker 4: out because we talking earnest money. They're not talking earnest money.
• 14:57
  Speaker 4: They talking to everything except earnest money.
• 15:00
  Speaker 2: Two.
• 15:01
  Speaker 4: Another reason why people don't want to put earnest money down,
• 15:03
  Speaker 4: especially wholet sellers. They don't want to put earnest money
• 15:05
  Speaker 4: down because they don't know how to evaluate the property.
• 15:08
  Speaker 4: They don't know how to analyze the deal, so they're
• 15:10
  Speaker 4: not even sure if it's a great deal or not,
• 15:13
  Speaker 4: so they definitely don't want to put their money on
• 15:15
  Speaker 4: the line. We know exactly what it is, so that's
• 15:17
  Speaker 4: why we willing to put our money on the line.
• 15:18
  Speaker 4: So we'll put whatever amount that If the owner said
• 15:23
  Speaker 4: they selling the house for fifty thousand dollars and the
• 15:24
  Speaker 4: owners said we need ten thousand earnest money, we need
• 15:27
  Speaker 4: twenty we're good with that because we know that it's
• 15:29
  Speaker 4: a good deal. We know how to assess it, we
• 15:31
  Speaker 4: know the values. Are you buying most of these properties cash?
• 15:34
  Speaker 2: Yes?
• 15:35
  Speaker 6: Okay, So for people that might not have the cash,
• 15:42
  Speaker 6: what what's your conversation to them? Is it like work
• 15:45
  Speaker 6: with a group of investors together or My.
• 15:48
  Speaker 4: Thing is always whatever you don't have, partner with somebody
• 15:51
  Speaker 4: that have it. Most people are not interested in partnering
• 15:55
  Speaker 4: with people. Most people are not interested in cutting up
• 15:57
  Speaker 4: the money. That's why I always talk about relationship building
• 16:00
  Speaker 4: and maintaining great relationships. Money and opportunities are the byproduct.
• 16:04
  Speaker 4: So whatever you don't have, you partner with somebody that
• 16:08
  Speaker 4: have it. Like, I'm not a tech guy, but my
• 16:11
  Speaker 4: sign is I'm not going to do no cold costs.
• 16:15
  Speaker 4: But my signs trained somebody to do cold costs, Like,
• 16:19
  Speaker 4: so I don't overthink, Like if it's something I don't know,
• 16:22
  Speaker 4: I'm gonna find somebody that know it and then I'm
• 16:24
  Speaker 4: gonna split the money.
• 16:25
  Speaker 2: Up with them.
• 16:26
  Speaker 6: So it's interesting because most people in real estate, they
• 16:30
  Speaker 6: always use leverage debt. They want to use as little
• 16:35
  Speaker 6: of their own money or as little money period possible,
• 16:38
  Speaker 6: and leverage you know, the bank, So what makes why
• 16:42
  Speaker 6: don't you do that? Why do you do more cash deals.
• 16:46
  Speaker 4: I think I come from a place where I'm used
• 16:50
  Speaker 4: to cash. I'm used to doing things with cash. I
• 16:54
  Speaker 4: understand the leverage I've used the banks, the business lines
• 16:58
  Speaker 4: of credits, the cure lines of credit, etc. But I
• 17:03
  Speaker 4: like to recycle my own money. You understand what I'm saying.
• 17:08
  Speaker 4: So I like to recycle my own money versus it's
• 17:10
  Speaker 4: sitting in the bank account not getting anything. I'd rather
• 17:13
  Speaker 4: sit in assets and properties. So I don't know if
• 17:17
  Speaker 4: you remember, we was at dinner in Miami at Bar one.
• 17:20
  Speaker 4: I believe it was Bar one, and it was actually
• 17:23
  Speaker 4: my real estate strategy now basically said my real estate strategies,
• 17:26
  Speaker 4: buy flip hole repeat. It don't sound sexy, and most
• 17:30
  Speaker 4: of our people looking for sexy and things that sound
• 17:33
  Speaker 4: good and things that they can do fast. Buy flip
• 17:36
  Speaker 4: hole repeat. Basically means you buy properties you flip. Flip
• 17:41
  Speaker 4: can be turnkey flips to out of state or out
• 17:43
  Speaker 4: of country investors, retail flips to homeowner, or wholesale flips
• 17:47
  Speaker 4: and hold. So most of the money that we make
• 17:50
  Speaker 4: from the flips. One of those three ways that we flipped,
• 17:53
  Speaker 4: we save and invest fifty to seventy five percent of
• 17:56
  Speaker 4: that money, and we use it for our buying holds
• 18:00
  Speaker 4: and most of them free and clear. And we also
• 18:02
  Speaker 4: use that money to invest in other businesses outside of
• 18:05
  Speaker 4: real estate lending as well. So we just and then
• 18:08
  Speaker 4: we repeat the process. Buy, flip, repeat, couldn't bring it
• 18:12
  Speaker 4: down a little bit for people. So you buy a property, correct,
• 18:16
  Speaker 4: then you flip the property. One of those forms of flips.
• 18:20
  Speaker 4: What's the forms of flipping again, retail flips that's selling
• 18:23
  Speaker 4: to homeowners, okay, selling to another homeowner, selling to a homeowner.
• 18:26
  Speaker 4: Most of those take place in the suburbs, like retail
• 18:29
  Speaker 4: flips to homeowners. Two turnkey flips, turnkey flips or at
• 18:33
  Speaker 4: properties that's rehab under professional property management with tenants in it.
• 18:38
  Speaker 4: And so we sell those out of state or out
• 18:39
  Speaker 4: of country investors. And then wholesale flips. I'm selling it
• 18:43
  Speaker 4: to wholesalers. That's selling basically basically, we pick it up,
• 18:47
  Speaker 4: we get it at a wholesale fee, and then we
• 18:49
  Speaker 4: sell it. Some of them we don't do anything to
• 18:52
  Speaker 4: that's basically a wholesale flip. Well, we don't do anything
• 18:54
  Speaker 4: to it. We get it at a great number and
• 18:56
  Speaker 4: we turn around and sell.
• 18:57
  Speaker 6: It and then you use that money to buy another
• 19:00
  Speaker 6: property that you're gonna hold for the long we're going
• 19:02
  Speaker 6: that we're gonna hold free and clear.
• 19:04
  Speaker 3: How long do these deals take because obviously you know,
• 19:06
  Speaker 3: going through the process here in New York for a
• 19:08
  Speaker 3: deal obviously using the bank, you're not using the bank.
• 19:10
  Speaker 2: How long does the typical deal take to get done?
• 19:13
  Speaker 4: About forty five days?
• 19:14
  Speaker 2: Forty five days?
• 19:15
  Speaker 3: About forty five And when you're doing the buy and hold,
• 19:17
  Speaker 3: how long are you holding?
• 19:20
  Speaker 4: I don't have a date, like, we don't have a date.
• 19:22
  Speaker 4: Like it depends, like say the market shift. Like, so
• 19:25
  Speaker 4: the market shift over the last couple of years. So
• 19:28
  Speaker 4: some properties that we were all in for twenty five
• 19:31
  Speaker 4: to thirty thousand, we sold some of those properties for
• 19:34
  Speaker 4: ninety thousand, and then we take that money and then
• 19:37
  Speaker 4: we just double down.
• 19:39
  Speaker 3: So you're doing this in Cleveland correctly. Is there a
• 19:42
  Speaker 3: strategy to how you're acquiring the properties in Cleveland? Like
• 19:45
  Speaker 3: is there a aspirations like, look, we're gonna take over
• 19:47
  Speaker 3: this whole block, We're gonna take over this whole neighborhood.
• 19:50
  Speaker 2: Now we got this, Like is there a strategy to it?
• 19:52
  Speaker 2: Or how are we going about picking properties.
• 19:54
  Speaker 4: So we basically do business in Kyahoga County, so the
• 19:57
  Speaker 4: inner city and the suburbs. The way here, we were
• 20:01
  Speaker 4: just talking about some different developments that are going on
• 20:04
  Speaker 4: in specific zip codes in Cleveland. So now we're eye
• 20:08
  Speaker 4: in those neighborhoods and so we're strategically about to buy
• 20:12
  Speaker 4: in those specific neighborhoods because the government and other big
• 20:17
  Speaker 4: companies are coming in buying up land and they redoing
• 20:20
  Speaker 4: the streets, and so we clearly see what's going on.
• 20:23
  Speaker 4: So now we're specific and strategic about these areas. So
• 20:27
  Speaker 4: that's where we're about to put most of our money
• 20:29
  Speaker 4: in residential and commercial in these areas.
• 20:32
  Speaker 6: So out of town, out of state investors, people that
• 20:37
  Speaker 6: are in Atlanta, New York, Chicago, LA where they can't
• 20:42
  Speaker 6: get a property for less than a million dollars, and
• 20:44
  Speaker 6: a lot of people get discouraged, right because it's like
• 20:47
  Speaker 6: you don't have enough money to buy a home, and
• 20:50
  Speaker 6: it stopped people from actually purchasing home or investing. But
• 20:53
  Speaker 6: you can invest in other places that you don't live in,
• 20:56
  Speaker 6: so you can invest in the Cleveland, Ohio. But this
• 21:00
  Speaker 6: downside too, because it's like if you're not familiar with
• 21:02
  Speaker 6: the area. How do you know what's good? How do
• 21:05
  Speaker 6: you maintain a property if you're not physically there. So
• 21:09
  Speaker 6: what's your advice for out of state investors?
• 21:13
  Speaker 4: Out of state investors? A couple of things. One thing
• 21:17
  Speaker 4: I would do for out of state investors, I would
• 21:20
  Speaker 4: find out when the local REA meeting is Real Estate
• 21:24
  Speaker 4: Investors Association. So every city have those in the real meeting. Basically,
• 21:29
  Speaker 4: it's where you find title companies, private money lenders, investors, wholesalers,
• 21:34
  Speaker 4: people just getting started, people have been in the game
• 21:37
  Speaker 4: for twenty years, and they meet monthly and they talk
• 21:40
  Speaker 4: about what's going on in real estate. People are there
• 21:43
  Speaker 4: selling properties, people are there buying properties. That way, you
• 21:46
  Speaker 4: attend a meeting like that and you can get familiar
• 21:49
  Speaker 4: with what's going on in that city. You can get
• 21:51
  Speaker 4: familiar with the zip codes that are great for whatever
• 21:54
  Speaker 4: strategy that you're picking for investing.
• 21:57
  Speaker 3: Yeah, so obviously acquired properties, but you brought people along
• 22:02
  Speaker 3: with you. So at a certain point, when did you
• 22:04
  Speaker 3: get the mindset set to say I can't do this
• 22:06
  Speaker 3: by myself. Obviously you had a mentor how do you
• 22:08
  Speaker 3: develop the team? At what point was it when I
• 22:10
  Speaker 3: got five properties?
• 22:11
  Speaker 2: All right?
• 22:11
  Speaker 3: I can't handle this. I need a property manager. I'm
• 22:14
  Speaker 3: not good at tech. Let me bring myself at what
• 22:15
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• 22:19
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• 23:17
  Speaker 4: I want to say maybe fifteen, twenty fifteen, twenty years ago,
• 23:26
  Speaker 4: probably twenty, probably twenty years ago when I lost all
• 23:31
  Speaker 4: of my properties because I came into real estate with
• 23:35
  Speaker 4: the same mindset that I had in my past business,
• 23:39
  Speaker 4: and I was just focused on getting paid. It was
• 23:41
  Speaker 4: always getting paid by all means necessary. I wasn't into relationships, right,
• 23:46
  Speaker 4: that's something new. I was focused on getting paid. And
• 23:49
  Speaker 4: so what I would do back then, they would do
• 23:51
  Speaker 4: one hundred percent financing, So I would finish the house
• 23:54
  Speaker 4: real fast, wrong, like half du they repairs, let anybody
• 23:59
  Speaker 4: move in. I was the property manager, and I did
• 24:01
  Speaker 4: a horrible job. And so when you have, you know,
• 24:05
  Speaker 4: twenty thirty properties where you let anybody move in, you
• 24:07
  Speaker 4: didn't do the rehab right. Your pocket was the cash
• 24:11
  Speaker 4: register and the bank account. The market switched, and when
• 24:14
  Speaker 4: the market switched, I lost. I lost all the properties.
• 24:20
  Speaker 4: At first, At first, I was mad at the real estate.
• 24:24
  Speaker 4: I was mad at tenants. I felt like it was
• 24:27
  Speaker 4: they fought. But when I really took a hard look
• 24:29
  Speaker 4: in the mirror, I knew that I was the culprit.
• 24:32
  Speaker 4: I knew that it was the way that I did business.
• 24:34
  Speaker 4: I knew that I was greedy. I wasn't focusing on
• 24:37
  Speaker 4: building a building the business right, and so that's why
• 24:41
  Speaker 4: I lost. So that made me readjusting look at the
• 24:45
  Speaker 4: game different and from that point I started focusing on
• 24:49
  Speaker 4: building the right team, not just bench players. A lot
• 24:52
  Speaker 4: of people want to win a championship in real estate
• 24:54
  Speaker 4: with bench players. When I say bench players, you want
• 24:56
  Speaker 4: to get the cheapest people possible because you want to
• 24:58
  Speaker 4: put most of the money in your pocket. So I
• 25:00
  Speaker 4: could just kind of reverse that, or I want the
• 25:02
  Speaker 4: best players, and so I'm willing to pay whatever they
• 25:05
  Speaker 4: costs so I can have a piece of mind.
• 25:08
  Speaker 3: So when you when you lose it all, obviously you
• 25:10
  Speaker 3: gotta have a strong mindset to say I'm not done right.
• 25:13
  Speaker 2: I want to continue this because this is my purpose.
• 25:16
  Speaker 3: Like are you sitting down writing systems and like, all right,
• 25:18
  Speaker 3: before I come back into the game, let me have this.
• 25:21
  Speaker 3: So you was like, all right, I'm gonna still dibble
• 25:23
  Speaker 3: and dabble and try to be back in it. Or
• 25:26
  Speaker 3: it's like a hard reset. What did you do when
• 25:28
  Speaker 3: you've lost it? A hard reset?
• 25:30
  Speaker 4: So it was it was, it was a hard listen
• 25:33
  Speaker 4: and a hard listen was my oldest son and my
• 25:38
  Speaker 4: oldest daughter, their mom. She was trying to talk sensing
• 25:43
  Speaker 4: to me the whole time, but God was stubborn. I
• 25:46
  Speaker 4: wouldn't listen. I figured, like I knew it all and
• 25:48
  Speaker 4: you can't tear the mem anything. So that's one of
• 25:50
  Speaker 4: the that's one of the the people that helped me
• 25:53
  Speaker 4: come back, Like, you know, somebody that was there from
• 25:55
  Speaker 4: the beginning, that believed in me when I didn't believe
• 25:58
  Speaker 4: in myself, you know, be and so I started to
• 26:01
  Speaker 4: listen listen to her, and she helped me come back.
• 26:05
  Speaker 6: So back to this off market out of state investors
• 26:12
  Speaker 6: management company, Like, how important is that to have somebody
• 26:15
  Speaker 6: that's actually managing a property for you if you don't
• 26:19
  Speaker 6: live there, or even if you do live in a city,
• 26:21
  Speaker 6: like because a lot of times people are like they
• 26:22
  Speaker 6: don't want to collect rent, they don't want to have
• 26:24
  Speaker 6: to get calls about, you know, my toilet's not working
• 26:27
  Speaker 6: at two o'clock in the morning. That's one of the
• 26:29
  Speaker 6: downsides about being a landlord, right, So it's like, how
• 26:33
  Speaker 6: important is it to have somebody else doing that work
• 26:35
  Speaker 6: for you?
• 26:36
  Speaker 4: The management company is the glue that holds everything together.
• 26:40
  Speaker 4: Without strong management, it don't matter where you buy the
• 26:43
  Speaker 4: property at. You could buy the property in an a
• 26:45
  Speaker 4: suburb and you have the wrong management, You're not gonna
• 26:49
  Speaker 4: make money. So the management company is the glue that
• 26:52
  Speaker 4: holds everything together.
• 26:55
  Speaker 6: How do you know this is a good management company?
• 26:58
  Speaker 4: I say through referrals. And what I what I found
• 27:01
  Speaker 4: with referrals is when I look back, when I reflect,
• 27:05
  Speaker 4: and I look at the referrals that I got from
• 27:06
  Speaker 4: people that don't really take care of their business, the
• 27:09
  Speaker 4: referrals matched. When I reflect, I looked at the people
• 27:14
  Speaker 4: that I got referrals from from people that took care
• 27:16
  Speaker 4: of their business, the referrals matched. So I would say,
• 27:20
  Speaker 4: referrals from somebody that that that you know, that take
• 27:24
  Speaker 4: care of their business, somebody that's solid. That's the first
• 27:27
  Speaker 4: place I would start. And then like, what's the typical
• 27:29
  Speaker 4: like ten percent that they charge? Ten percent is the
• 27:31
  Speaker 4: average that they try of rent? Yep, ten percent of
• 27:34
  Speaker 4: the rent and they charged first month's rent to find
• 27:37
  Speaker 4: you attendant. Oh so they find you attendant. Yeah, they
• 27:40
  Speaker 4: find your attendant.
• 27:41
  Speaker 6: So would you suggest that for anybody, anybility invested to
• 27:44
  Speaker 6: have a management company in place.
• 27:45
  Speaker 2: Absolutely.
• 27:46
  Speaker 4: I look at it like if you're saying, like how
• 27:50
  Speaker 4: most people saying I know some people just saying it
• 27:52
  Speaker 4: because it sounds cute. When you talk about building legacy
• 27:56
  Speaker 4: or generational wealth, you should start with that. You start with,
• 28:02
  Speaker 4: I'm gonna build a fortune five hundred company. Not wait
• 28:05
  Speaker 4: until you build it and then go try to get
• 28:07
  Speaker 4: somebody to manage it, like, start right from the beginner.
• 28:11
  Speaker 3: So you hire the management team at first, or and
• 28:13
  Speaker 3: then I'm wondering, now are you trying to develop in
• 28:16
  Speaker 3: your own Is that how it works? Because I figure
• 28:18
  Speaker 3: like if you hire long enough, you actually know the
• 28:21
  Speaker 3: skills and you know what it takes.
• 28:22
  Speaker 2: To do it right.
• 28:23
  Speaker 3: Now, It's like, rather than hire somebody, I can probably
• 28:25
  Speaker 3: build from within and put somebody in place and teach
• 28:27
  Speaker 3: them the skills, and now I have a management team
• 28:30
  Speaker 3: that can now do my properties but also can create
• 28:32
  Speaker 3: a business themselves.
• 28:33
  Speaker 2: Is that a strategy that you've used? No?
• 28:35
  Speaker 4: Okay, No, I still outsource it.
• 28:37
  Speaker 6: Okay, okay, So let's talk about rehabs. Can you walk
• 28:44
  Speaker 6: us through it, like maybe even a property that you've
• 28:46
  Speaker 6: recently rehabbed, like because people always talk about rehabs a lot,
• 28:50
  Speaker 6: But I don't think a lot of people still have
• 28:52
  Speaker 6: a full understanding of like you know, the rehab process,
• 28:55
  Speaker 6: Like what's the rehab process from like start to finish.
• 28:58
  Speaker 4: So you purchased the probert. From the day you sign
• 29:02
  Speaker 4: the paperwork, you get insurance. And I know people may
• 29:07
  Speaker 4: say that that may be elementary. Well I learned that
• 29:10
  Speaker 4: lesson the hard way. My first renal property caught on fire.
• 29:13
  Speaker 4: I had no insurance. So soon as you sign the
• 29:16
  Speaker 4: doted line you want, you get your insurance. After that,
• 29:19
  Speaker 4: you get the utilities turned on. After you get the
• 29:22
  Speaker 4: utilities turned on, you get an alarm. I learned that
• 29:25
  Speaker 4: the hard way too. I didn't get alarmed for like
• 29:27
  Speaker 4: ten years. Houses kept get broken into, and then it
• 29:30
  Speaker 4: dawned on me. Listen, you need to stop being cheap
• 29:32
  Speaker 4: and getting alarmed. You get you get the alarm. After that,
• 29:37
  Speaker 4: you put together you you map out your your process.
• 29:41
  Speaker 4: So just say six weeks, right, depending on the rehab side,
• 29:46
  Speaker 4: So say six weeks and you map it out. So
• 29:48
  Speaker 4: the first week you're gonna do the exterior the exterior work,
• 29:53
  Speaker 4: depending on the property, the work gonna range. But you
• 29:56
  Speaker 4: know your rough gutters, windows, siding, any exterior carpentry work.
• 30:03
  Speaker 4: At the same time, you got your crew on the
• 30:05
  Speaker 4: side outside doing the exterior work. You got your electrical
• 30:08
  Speaker 4: plumbing and heating person in the inside. Like, so that's
• 30:12
  Speaker 4: going on week one, week two, week two, you come in,
• 30:17
  Speaker 4: you hanging drywall, drywall and carpentry because you got your
• 30:21
  Speaker 4: rough end for your plumbing already in for the ruffian,
• 30:24
  Speaker 4: roughian for the electrical roughian for the furnace. So you
• 30:27
  Speaker 4: come in drywall and carpentry. Outside they finishing up whatever
• 30:32
  Speaker 4: they didn't finish last week for the exterior. After you paint,
• 30:36
  Speaker 4: you're setting there in your fixtures. You know, your electrical fixtures, uh,
• 30:39
  Speaker 4: outlet covers, light fixtures. You set in your setting in
• 30:43
  Speaker 4: your kitchens, your kitchens, baths. After that you're doing your flooring,
• 30:50
  Speaker 4: whether it's carpet hard with flooring tile uh. Most of
• 30:53
  Speaker 4: the time on the end of the project, you got
• 30:55
  Speaker 4: your punchless so that's all the little knick knack stuff,
• 30:59
  Speaker 4: So that can range. I got a six week schedule,
• 31:02
  Speaker 4: but it depends on the size of the rehab. But
• 31:06
  Speaker 4: that basically gives you a blueprint that you could use.
• 31:10
  Speaker 6: So typically six weeks is a good time for a
• 31:12
  Speaker 6: regular size house, yet fourteen hundred square foot properties three
• 31:16
  Speaker 6: to two six weeks.
• 31:17
  Speaker 3: So is there any time when you're looking at a
• 31:20
  Speaker 3: rehab and you're saying no, I mean, obviously, I'm assuming
• 31:23
  Speaker 3: that you're basing on the deal, saying all right, this
• 31:25
  Speaker 3: is it the comps, this is the neighborhood. But this
• 31:28
  Speaker 3: rehab it looks like it's gonna take too much, Like,
• 31:30
  Speaker 3: is there a sign that says we can't do this one?
• 31:33
  Speaker 4: The only sign for us to say is that we
• 31:35
  Speaker 4: can't do it. It's the foundation issues. Other than that, if
• 31:39
  Speaker 4: the numbers make sense, it's ago. Yeah. The path is math. Yeah,
• 31:43
  Speaker 4: the path is math.
• 31:44
  Speaker 6: So a lot of times people say contractors are not
• 31:48
  Speaker 6: very trustworthy.
• 31:49
  Speaker 2: CEO n that practice.
• 31:54
  Speaker 6: So how do you what's the steps? I remember sees
• 31:58
  Speaker 6: that told us before, like, never pay a con tractor
• 32:00
  Speaker 6: in full, pay them in stages because if you pay
• 32:03
  Speaker 6: them in full, eight you ain't gonna run off with
• 32:05
  Speaker 6: the money. What's your strategy on dealing with contractors?
• 32:09
  Speaker 4: Again, I will get referrals from somebody that you admire
• 32:14
  Speaker 4: when it comes to business, and never give them most
• 32:18
  Speaker 4: of the money up front. You have to stay ahead
• 32:20
  Speaker 4: of them with the money. And I always tell contractors
• 32:23
  Speaker 4: that have an issue with how how we pay, I
• 32:27
  Speaker 4: tell them that the house never comes up missing, the
• 32:30
  Speaker 4: house never disappears. Contractors come up missing and they disappear.
• 32:36
  Speaker 4: So if you know you're gonna do the right thing,
• 32:38
  Speaker 4: why you need most of the money upfront anyway? So
• 32:40
  Speaker 4: typically what I like to do is after the next day,
• 32:44
  Speaker 4: after you do a full days worth the work, and
• 32:46
  Speaker 4: then the next day, I'll give you a third of
• 32:49
  Speaker 4: the money. And then once you did a third, you
• 32:52
  Speaker 4: know more to work based upon the scope that you
• 32:55
  Speaker 4: put together. That's complete. Now I'm gonna pay you another
• 32:58
  Speaker 4: percentage of the money.
• 32:59
  Speaker 6: So you're paying thirds correct the course, so for the
• 33:01
  Speaker 6: six week, every two weeks, every two weeks you get thinking.
• 33:04
  Speaker 4: Correct, do you use the same contractor for everything?
• 33:08
  Speaker 6: Right?
• 33:08
  Speaker 4: Now? We got a we got a main guy and
• 33:11
  Speaker 4: then his team, and then he oversees other people. So
• 33:14
  Speaker 4: I just we go through one person. I let him
• 33:17
  Speaker 4: handle the rest.
• 33:18
  Speaker 2: How often are you on the properties?
• 33:19
  Speaker 3: I'm sure there's a bunch of properties under the portfolio,
• 33:21
  Speaker 3: So how often are you are you just there?
• 33:23
  Speaker 2: For? All? Right? This is the deal. We signed the papers.
• 33:25
  Speaker 3: Now the systems are in place everybody knows what to
• 33:27
  Speaker 3: do and you're just checking, like how often do you go?
• 33:29
  Speaker 4: So it depends when I get bored, like like you know,
• 33:35
  Speaker 4: I get Yeah, I get bored, I go yea, go
• 33:37
  Speaker 4: to the properties. I really don't have to, but I
• 33:40
  Speaker 4: get bored, I go to the properties. The same thing
• 33:42
  Speaker 4: with home Depot, Like I don't have to go to
• 33:44
  Speaker 4: home Depot, but I miss it sometime and I want.
• 33:46
  Speaker 2: To walk, you know, walk around some shots.
• 33:49
  Speaker 6: Yeah.
• 33:49
  Speaker 4: So, and then most of the most of what we're
• 33:52
  Speaker 4: doing right now is not fix and flips. Most of
• 33:54
  Speaker 4: what we're doing right now is wholesale flips where we're
• 33:57
  Speaker 4: not doing any work. Most of the stuff that we
• 34:01
  Speaker 4: using our team for things that we are going to hold.
• 34:06
  Speaker 4: And so right now, what's hot right now is the
• 34:10
  Speaker 4: wholesale flips where we buying, you know, for pennies on
• 34:12
  Speaker 4: the dollar and we're flipping without doing anything.
• 34:15
  Speaker 6: So talk about that a little bit, the whole sale
• 34:17
  Speaker 6: clips that you're doing right now. So you repeat that,
• 34:19
  Speaker 6: talk about that, the whole sale flips. So what specific question,
• 34:24
  Speaker 6: So like wholesaling real estate, for my understanding, it's like
• 34:28
  Speaker 6: the middleman, right, Like I have a property, the whole
• 34:31
  Speaker 6: saler never actually owns the property, right they just negotiate
• 34:34
  Speaker 6: a deal. So if I'm trying to sell this property
• 34:36
  Speaker 6: for fifty thousand and the wholesaler can sell it for
• 34:40
  Speaker 6: seventy thousand, then they make a twenty thousand dollars profit, right, right,
• 34:45
  Speaker 6: But they don't actually ever take control. They never buy
• 34:48
  Speaker 6: the home. They just find somebody else that is looking
• 34:51
  Speaker 6: to buy the property for fifty thousand, and then they
• 34:53
  Speaker 6: can charge them whatever they want and then they keep
• 34:55
  Speaker 6: the difference. Is that correct?
• 34:56
  Speaker 4: Correct? They basically assign they assign it to somebody else
• 35:00
  Speaker 4: for a fee. And you're right, most wholesale most wholesalers
• 35:04
  Speaker 4: never own the property. Most of the deals we do,
• 35:06
  Speaker 4: we own the properties. Okay, So it's different than the
• 35:10
  Speaker 4: average wholesaler. Yeah, it's different. It's a different conversation when
• 35:14
  Speaker 4: we speak into those homeowners because we're actually buying buying
• 35:17
  Speaker 4: the properties, so we don't have to shop it like
• 35:21
  Speaker 4: we don't have to shop it on the low like
• 35:23
  Speaker 4: we can we could shop we could put it on
• 35:25
  Speaker 4: the MLS. The MLS is the largest cash buyer's list
• 35:29
  Speaker 4: in the world. Most whole sellers, they can't put the
• 35:30
  Speaker 4: properties on the MLS because you've got to own the
• 35:33
  Speaker 4: property in order to put it on the MLS. But
• 35:35
  Speaker 4: putting it on the MLX MLS exposed of the property
• 35:39
  Speaker 4: to you know, millions of eyes. Correct, but we get
• 35:44
  Speaker 4: them at like like those fees don't don't matter, like
• 35:47
  Speaker 4: you get a great deal, like you you have earners.
• 35:51
  Speaker 2: What's up?
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  Speaker 4: A narrative, pay those fees. So why are you doing
• 38:42
  Speaker 4: more of those these days than buying like anything?
• 38:45
  Speaker 3: Like?
• 38:46
  Speaker 6: Why is that attracted to you right now?
• 38:49
  Speaker 4: Well, host on is attractive to us where we don't
• 38:53
  Speaker 4: have to manage multiple crews, and right now we got
• 38:59
  Speaker 4: three rules that we could depend on. So if we
• 39:02
  Speaker 4: decided to go forward fledge with Fix and Flips, we're
• 39:04
  Speaker 4: going to have to put together some more teams. And
• 39:08
  Speaker 4: right now, where real estate is right now, the cycle
• 39:10
  Speaker 4: that we're in is like host selling makes both sense,
• 39:15
  Speaker 4: like where you ain't gonna manage no cruise, you ain't
• 39:17
  Speaker 4: got to go to home depot. It's like the fastest
• 39:20
  Speaker 4: thing since you know, the stuff that was going on
• 39:22
  Speaker 4: in eighty four.
• 39:27
  Speaker 6: So what's what's your what's that's the Yeah, that's the
• 39:29
  Speaker 6: year I was born. So what's the what's your thought
• 39:32
  Speaker 6: on the real estate market in general right now? Because,
• 39:35
  Speaker 6: like I said, real estate has continuously going up when
• 39:38
  Speaker 6: everything else is continuously going it's going down. But but
• 39:42
  Speaker 6: we are in intercession. Interest rates are high six percent.
• 39:48
  Speaker 6: I think it's an average something like that. So are
• 39:52
  Speaker 6: you nervous that real estate is gonna correct.
• 39:55
  Speaker 2: Itself and we see another two thousand and eight.
• 39:58
  Speaker 6: Well maybe not even two thousand, but what's like it?
• 40:01
  Speaker 6: Will it fall you think? I'm not sure? But to
• 40:05
  Speaker 6: answer your question about being nervous, I'm not nervous. I
• 40:10
  Speaker 6: think that.
• 40:13
  Speaker 4: First of all, it's a strategy for every zip code
• 40:16
  Speaker 4: on the planet, for every real estate cycle. And I
• 40:18
  Speaker 4: think when they use the word crash, it's the scared
• 40:20
  Speaker 4: of people that's already scared. It's a correction. I think
• 40:25
  Speaker 4: everything has cycles, real estate, stock market, life, business has cycles.
• 40:32
  Speaker 4: And I think Once we clearly understand that everything is cycles,
• 40:37
  Speaker 4: we start to come up with solutions to prepare ourselves
• 40:39
  Speaker 4: to take advantage of the things that happens when you
• 40:42
  Speaker 4: have those cycles. What I see in those cycles is
• 40:45
  Speaker 4: things go and sell when you have those cycles in
• 40:48
  Speaker 4: the stock market, just like real estate. And when I
• 40:51
  Speaker 4: look at America and I reduce just a little bit
• 40:55
  Speaker 4: of research, when you look at the Great Depression, what
• 40:58
  Speaker 4: you'll see is two things. When you look at the scamdemic,
• 41:01
  Speaker 4: what you will see as two things. When you look
• 41:02
  Speaker 4: at the bank crash, you will see two things. When
• 41:04
  Speaker 4: you look at the real estate market crash aoh nine,
• 41:06
  Speaker 4: you'll see two things. The two things are this, you
• 41:09
  Speaker 4: see a handful of people that's prepared, ready, with resources.
• 41:14
  Speaker 4: They take advantage of the opportunities that present themselves and
• 41:18
  Speaker 4: they get super rich. Some of the best companies on
• 41:21
  Speaker 4: the planet were born in the Great Depression. The second
• 41:26
  Speaker 4: thing you'll see is the masses unprepared, not ready, no resources,
• 41:33
  Speaker 4: running for cover. You can't take advantage of opportunities if
• 41:36
  Speaker 4: you're running for cover. And so when you look at
• 41:39
  Speaker 4: all those things I just name, those are the two
• 41:42
  Speaker 4: things you'll see.
• 41:44
  Speaker 3: Now you said it, here in America, but you were
• 41:46
  Speaker 3: gracious enough to be in London with us. We appreciate that.
• 41:50
  Speaker 3: So shout out to London international investors. How are you
• 41:54
  Speaker 3: attracted them? Are you using the internet obviously to attracts
• 41:59
  Speaker 3: that international investors?
• 42:01
  Speaker 2: What's that process? Like you?
• 42:03
  Speaker 4: So I'll say that the first the first international investors
• 42:07
  Speaker 4: we got from from Canada, we found them on they
• 42:11
  Speaker 4: found us on social media, on social media, and we
• 42:16
  Speaker 4: did one deal and the one deal led to you know,
• 42:20
  Speaker 4: them bringing their family members, their friends, and it just
• 42:23
  Speaker 4: kind of spread. I think that, like I tell anybody,
• 42:29
  Speaker 4: do one deal like it's millions on the table, Like
• 42:33
  Speaker 4: treat that one customer client like there's millions on the table,
• 42:36
  Speaker 4: and they will go out and tell more people about you,
• 42:41
  Speaker 4: and the money will find you. Like you do what's right.
• 42:45
  Speaker 4: You be impeccable with your word, you do great business.
• 42:47
  Speaker 4: The money, the money will find you. And so that's
• 42:49
  Speaker 4: how we started to attract those clients in other countries.
• 42:53
  Speaker 2: How many countries, so obviously you said Canada, how many other.
• 42:56
  Speaker 4: Countries Canada, Australia, Canada, Australia, Israel.
• 43:04
  Speaker 6: So you had spoke about another post that I saw
• 43:07
  Speaker 6: the demo list and why that's important to tap in
• 43:11
  Speaker 6: with a local expert. And you said in Cleveland, you
• 43:13
  Speaker 6: are the local expert, So can you talk about that,
• 43:15
  Speaker 6: like the demo list and different things, some things that
• 43:18
  Speaker 6: can mislead investors.
• 43:20
  Speaker 4: So basically what I was saying or why was sharing
• 43:24
  Speaker 4: with that post is a lot of investors reached out
• 43:28
  Speaker 4: to me after they bought properties from people that misled
• 43:33
  Speaker 4: them and so basically they got quick claim deeds from people.
• 43:37
  Speaker 4: And when you do a quick claim deed, you don't
• 43:39
  Speaker 4: necessarily go through a title company. You don't get title insurance,
• 43:44
  Speaker 4: and so you're not secure. You don't know if the
• 43:45
  Speaker 4: property got leans on it or not. You don't know
• 43:47
  Speaker 4: if the property is on the demo list, you don't
• 43:49
  Speaker 4: know if the property is on the condemned list. But
• 43:52
  Speaker 4: when you go through the title company, you get title
• 43:54
  Speaker 4: insurance and then they will share with you if the
• 43:57
  Speaker 4: property is condemned, or if the property is on the
• 44:00
  Speaker 4: or if the property has back taxes. In Cleveland, once
• 44:04
  Speaker 4: the property is on the demo list, it's nothing you
• 44:06
  Speaker 4: could do to get it off of the demo list.
• 44:08
  Speaker 4: Once they schedule it, that means that they tear their
• 44:10
  Speaker 4: property down on this specific date and they're going to
• 44:14
  Speaker 4: send you a bill after they tear their property down.
• 44:18
  Speaker 6: It's demolition list.
• 44:19
  Speaker 4: Correct.
• 44:19
  Speaker 6: So you could be buying a property not knowing that
• 44:22
  Speaker 6: what you just purchased is going to get torn down.
• 44:25
  Speaker 2: Correct, and you got to pay for it. That's correct.
• 44:29
  Speaker 6: Wow, And that's happened. That's happened to people. You see
• 44:33
  Speaker 6: that happening to people. That happened to a lot of people.
• 44:36
  Speaker 4: The people in my DMS talking about it or reaching
• 44:40
  Speaker 4: out to me schedule one, schedule one one on ones
• 44:43
  Speaker 4: with me talking to me, but it's too late, Like
• 44:46
  Speaker 4: you should talk to me first, and I would advise
• 44:49
  Speaker 4: you against that. Anytime somebody is trying to get you
• 44:53
  Speaker 4: to take a quick claim deep, it's a red flat
• 44:57
  Speaker 4: like it's a red flag, Like it's a reason like Okay,
• 45:00
  Speaker 4: you new to invest in and they want to get
• 45:04
  Speaker 4: you to go away from the title company. That's a
• 45:06
  Speaker 4: red flag. Like I have people come to me that want,
• 45:09
  Speaker 4: you know, cause we could just do a quick claim
• 45:11
  Speaker 4: that no, we're gonna go through this title company. Because
• 45:14
  Speaker 4: I don't only want to sell your property. I want
• 45:16
  Speaker 4: to educate you as we grow through this process. Because
• 45:19
  Speaker 4: I know that you don't know, and most of the
• 45:21
  Speaker 4: people that you meet out here, they won't be like me.
• 45:25
  Speaker 3: Yeah, I know even heard of demolition. How much is
• 45:27
  Speaker 3: the average like demolition bill?
• 45:29
  Speaker 4: About twenty thousand? Wow, So most of the people buying
• 45:33
  Speaker 4: the properties, for most of the people that reached out
• 45:37
  Speaker 4: to me, they're buying the properties anywhere from twenty to
• 45:40
  Speaker 4: fifty thousand, and the property get torn down. They got
• 45:44
  Speaker 4: to pay twenty thousand.
• 45:46
  Speaker 2: So they might even be putting down ten and jam.
• 45:49
  Speaker 6: So why would it they probably get torn down if
• 45:51
  Speaker 6: it's just like dilapidated, like it's just correct I saw
• 45:55
  Speaker 6: in the neighborhood.
• 45:56
  Speaker 2: Yeah.
• 45:56
  Speaker 4: So, so once it's on the condemned list, like the
• 45:59
  Speaker 4: city uh deems it condemned right after so long the
• 46:06
  Speaker 4: homeowner don't do what's necessary to get it off the
• 46:09
  Speaker 4: condemned list is just basically going to pull all all
• 46:12
  Speaker 4: of the permits and making some kind of effort to
• 46:17
  Speaker 4: do the repairs. It's like a countdown time, and so
• 46:20
  Speaker 4: you don't connect with the city inspectors. You keep ignoring
• 46:23
  Speaker 4: their phone calls, their letters. Now it's on a demo
• 46:26
  Speaker 4: list because we've gave you ample amount of time to
• 46:29
  Speaker 4: take care of it, and once it's on a demo list,
• 46:31
  Speaker 4: we turn it down and we're going to send you
• 46:33
  Speaker 4: a bill.
• 46:33
  Speaker 2: So you go for condemned to demo out of it.
• 46:36
  Speaker 6: Well, is that the opportunity? So when they when they
• 46:38
  Speaker 6: demo these properties, is the opportunity for because now it's
• 46:42
  Speaker 6: just a vacant lot, correct, So does it go to
• 46:44
  Speaker 6: the auction or yep?
• 46:46
  Speaker 4: So most of the whenever the city do that, most
• 46:50
  Speaker 4: of those properties the land like, so now you you
• 46:53
  Speaker 4: it's it's your land, like, but if you don't step
• 46:57
  Speaker 4: forward in the city, yeah, your land.
• 47:00
  Speaker 2: Okay, they're just not down to the property itself.
• 47:02
  Speaker 4: Yeah, you just got the land instead of the property
• 47:06
  Speaker 4: the property going. You got the land, okay.
• 47:10
  Speaker 6: But it's still probably an opportunity for investors because now
• 47:12
  Speaker 6: you can probably buy the land for cheaper because there's
• 47:14
  Speaker 6: nothing on it.
• 47:17
  Speaker 4: It depends if somebody got to pay that bill, that
• 47:20
  Speaker 4: twenty thousand dollars bill. They're not just letting the bill go.
• 47:24
  Speaker 6: Oh so it's like, so you don't own the property, correct,
• 47:26
  Speaker 6: So if you buy the property and it's not you
• 47:28
  Speaker 6: still got to pay that bill as part of the property.
• 47:31
  Speaker 2: Correct.
• 47:31
  Speaker 4: And if you don't then they just take the land
• 47:34
  Speaker 4: and then at that point they auction the land.
• 47:36
  Speaker 2: So whatever the land is plus, it's twenty correct, gotcha? Gotcha?
• 47:39
  Speaker 3: So either obviously the local expert in Cleveland. I'm wondering,
• 47:43
  Speaker 3: do you ever see expansion to the Greater Ohio? Actors? Like,
• 47:48
  Speaker 3: is that part of the plan?
• 47:49
  Speaker 6: Expansion Columbus, Ohio. I'm shoy to my god. Maurice Cloret.
• 47:53
  Speaker 6: He told me there's a lot of opportunity in Columbus, Ohio.
• 47:56
  Speaker 2: Jamestown, Ohio, that's where he's from.
• 47:59
  Speaker 4: Maurice sent me a a d M last week. James
• 48:03
  Speaker 4: did he Yeah, that's my guy.
• 48:05
  Speaker 2: Is that part of planning to experience other parts of oh.
• 48:09
  Speaker 4: I'm open to it. It's not something on the drawing
• 48:11
  Speaker 4: board right now. Because it's so much opportunity where we are.
• 48:18
  Speaker 4: I think sometimes I watch people go wide too fast
• 48:22
  Speaker 4: when you could go like deep. So we had so
• 48:24
  Speaker 4: much opportunity. So I'm not thinking of going wide like
• 48:28
  Speaker 4: I'm in a couple uh states through with partnerships. Uh
• 48:34
  Speaker 4: that's the that's the only way. But my focus is
• 48:36
  Speaker 4: is Cleveland. I'm thinking King of Cleveland. We got bron.
• 48:40
  Speaker 2: Young. It sounds fitted right, yeah, Neck connect until he returns.
• 48:50
  Speaker 2: We have a.
• 48:50
  Speaker 6: Property in Cleveland.
• 48:51
  Speaker 2: We were working on one. I think we have a
• 48:54
  Speaker 2: couple in Connectic kids, and I gotta.
• 48:56
  Speaker 6: Talk to the man. I'm not sure.
• 48:57
  Speaker 4: I think you'll.
• 48:58
  Speaker 6: Do things you Yeah, so Cleveland, all right, Yeah, we
• 49:04
  Speaker 6: do have a property in Cleveland. People, when you hear
• 49:08
  Speaker 6: about Cleveland, you think about Lebron and you think about
• 49:14
  Speaker 6: the Browns rock and Roll.
• 49:16
  Speaker 2: Hall of Fame. Do you think about the rock and
• 49:18
  Speaker 2: roll it's a big attraction. It's a big attraction.
• 49:21
  Speaker 6: Ye, no, yeah it is. Yeah, yeah, it is rock
• 49:25
  Speaker 6: and roll. But you might not you might not. You
• 49:27
  Speaker 6: might people might not think of too much outside of that.
• 49:30
  Speaker 6: So for people that aren't familiar with Cleveland or don't
• 49:33
  Speaker 6: really understand why Cleveland would be a beneficial market just
• 49:37
  Speaker 6: in general, like what is some of the upsides or
• 49:42
  Speaker 6: things that's actually happening in Cleveland where to say, Okay,
• 49:44
  Speaker 6: this this is a city that has some potential.
• 49:49
  Speaker 4: I think one of the one of the biggest things
• 49:51
  Speaker 4: is you've got Cleveland Clinic, which is the biggest, the
• 49:55
  Speaker 4: biggest hospital, the second largest hospital in the world, very
• 50:00
  Speaker 4: very large. Yes, it's the second largest, And so people
• 50:06
  Speaker 4: want to know like how is the rental market so
• 50:10
  Speaker 4: great or how you know how they're going to be
• 50:13
  Speaker 4: able to pay well. Cleveland Clinic is one of the
• 50:15
  Speaker 4: largest providers, like you know, for employment like.
• 50:20
  Speaker 6: In Cleveland, and it's good employment. Nurses, doctors, those are
• 50:26
  Speaker 6: very good people to rent properties too, especially nurses.
• 50:29
  Speaker 4: It's great, great employment. And then we have one of
• 50:32
  Speaker 4: the the biggest medical colleges in Cleveland, which is Case
• 50:36
  Speaker 4: Western Reserve. So most of the people that leave case
• 50:39
  Speaker 4: Western Reserve they go right to Cleveland Clinic.
• 50:43
  Speaker 2: Yeah do they?
• 50:46
  Speaker 3: So are you seeing properties because I know airbnb is
• 50:48
  Speaker 3: a thing, and I know rental nurses is a thing.
• 50:50
  Speaker 3: Is that something that you see people doing in that
• 50:53
  Speaker 3: area for sure?
• 50:54
  Speaker 4: In the Cleveland Clinic area which is ZIP called four
• 50:57
  Speaker 4: four one zero six student housing, medical student housing, airbnbs.
• 51:04
  Speaker 4: And then when you think about the price point, like
• 51:06
  Speaker 4: how many other cities can you go to where you
• 51:09
  Speaker 4: could buy two family homes for ninety thousand dollars turnkey,
• 51:15
  Speaker 4: where you can't even get a garage in New York
• 51:17
  Speaker 4: for that be difficult.
• 51:20
  Speaker 3: And you got like you said, you have colleges, you
• 51:22
  Speaker 3: have sports, and you have medical professions. Those are key
• 51:27
  Speaker 3: ingredients that need to have rental spaces.
• 51:32
  Speaker 6: You said the path is math. You talked about ARV
• 51:35
  Speaker 6: that's after rental after repair value, right, correct? So is
• 51:39
  Speaker 6: there a formula that you look at when you say, Okay,
• 51:42
  Speaker 6: I'm gonna buy this property for fifty and then ARV
• 51:45
  Speaker 6: has to be one hundred for it to make sense?
• 51:48
  Speaker 6: Like do you do something like that in your brain
• 51:49
  Speaker 6: or I don't.
• 51:52
  Speaker 4: With most of the properties that we focused on is
• 51:55
  Speaker 4: in the inner city, So on inner city, I don't
• 51:57
  Speaker 4: focus on We don't focus on ARV to repair value.
• 52:00
  Speaker 4: Only time after repair value come into play. If we're
• 52:03
  Speaker 4: going to do retail flips in the suburbs, why is
• 52:06
  Speaker 4: that because in the suburbs, we bind it to sell
• 52:10
  Speaker 4: to we bind it to sell to a homeowner. So
• 52:13
  Speaker 4: it needs to fit specific requirements in order for us
• 52:16
  Speaker 4: to make the investment. In the inner city, we buying
• 52:20
  Speaker 4: properties to rental. We buying properties for rental. So we
• 52:25
  Speaker 4: know that we buying this for cash flow, like not
• 52:30
  Speaker 4: to fix and flip. Two. We know that we get
• 52:33
  Speaker 4: in it at such a great number that it don't
• 52:36
  Speaker 4: matter what happened if the market go to zero, we
• 52:39
  Speaker 4: still in a great space. Example a property. We just
• 52:43
  Speaker 4: picked up a two family with vinyl side, newer one
• 52:47
  Speaker 4: of those new roof, tennis in place, for fifteen thousand
• 52:51
  Speaker 4: dollars fifteen one five.
• 52:58
  Speaker 6: How big is the house? It's a two foulsuse two
• 53:01
  Speaker 6: family house. How much work you got to put into it?
• 53:03
  Speaker 4: So it's tenants in there, we're in the process of
• 53:06
  Speaker 4: victim the tenants twenty thousand max. Remember it got a
• 53:11
  Speaker 4: new roof on it, newer windows, vinyl side. I posted
• 53:14
  Speaker 4: on social media a couple of days ago.
• 53:16
  Speaker 6: So why is it why is it only worth fifteen thousand.
• 53:18
  Speaker 4: One because of a tired landlord wanted out, was having
• 53:22
  Speaker 4: a headache, and so that's a great lead type in
• 53:25
  Speaker 4: today's market, there's a lot of landlords that want out.
• 53:28
  Speaker 4: Some of them went out because they older, they want
• 53:31
  Speaker 4: to do something else. They want to cash out, and
• 53:33
  Speaker 4: the property means more to us than it means to them.
• 53:36
  Speaker 4: And then you also have the tire landlords where they
• 53:40
  Speaker 4: don't know how to deal with tenants, so they don't
• 53:42
  Speaker 4: have the right things in place to deal with tenants.
• 53:44
  Speaker 4: So they got a headache and so they want to
• 53:46
  Speaker 4: cash out. How much is the rent that rent on
• 53:49
  Speaker 4: this specific property is the downstairs tendants pan four point
• 53:53
  Speaker 4: fifty and the upstairs tendants pay four fifty, So that's
• 53:57
  Speaker 4: way below market. Right now, the rents on the two
• 54:00
  Speaker 4: ones two family, two ones around six seventy five average
• 54:05
  Speaker 4: up to seven fifty.
• 54:07
  Speaker 2: You look per unit.
• 54:08
  Speaker 3: I'm just thinking in my brain, I'm sure that how
• 54:10
  Speaker 3: you calculated in yours is like, all right, the roof
• 54:12
  Speaker 3: is new, that's about ten thousand new windows. That could
• 54:15
  Speaker 3: be fifteen thousand, and they want fifteen. They want fifteen
• 54:18
  Speaker 3: for it, so thirty five all in If it's twenty
• 54:21
  Speaker 3: thousand dollars renovation, it's a no burning, no bringing. Right,
• 54:24
  Speaker 3: that's a nice watch. Thirty five thousand two family homes.
• 54:28
  Speaker 3: It makes sense and sense. It makes both sense and
• 54:30
  Speaker 3: sense and sense.
• 54:34
  Speaker 6: So when did you start incorporating your family into this
• 54:37
  Speaker 6: business and talk about that, like what's the role of
• 54:40
  Speaker 6: every who is your team and what's the role of
• 54:43
  Speaker 6: the team. I know your team consists of of your
• 54:45
  Speaker 6: family a lot.
• 54:48
  Speaker 4: I incorporated them. At the time. It was only five
• 54:52
  Speaker 4: of them kids, So it was only five kids at
• 54:55
  Speaker 4: the time. It's seven of them now, so you got
• 54:57
  Speaker 4: seven seven kids. Yeah, I got seven kids. So when
• 55:01
  Speaker 4: they were she wasn't here yet. That's my that's my youngest.
• 55:08
  Speaker 4: So when they were like five, six seven, when I
• 55:14
  Speaker 4: would pick them up, they would rile with me to
• 55:16
  Speaker 4: look at properties. They would rile with me to pick
• 55:18
  Speaker 4: up material from home depot. At the time, I was
• 55:21
  Speaker 4: picking up contractors dropping them off. They would go with
• 55:24
  Speaker 4: me to the title company. They would go with me
• 55:26
  Speaker 4: to the bank. They hated it, like they like most
• 55:30
  Speaker 4: of the time, they didn't want to go with me,
• 55:31
  Speaker 4: but I made them go because they knew that that's
• 55:34
  Speaker 4: what we were going to be doing and I was
• 55:35
  Speaker 4: going to be giving them a seminar and fast forward.
• 55:40
  Speaker 4: But Brian was around eleven, that's my oldest son, around eleven,
• 55:43
  Speaker 4: and I started teaching him how to evaluate properties. So
• 55:48
  Speaker 4: we'd walk through, walk through a property, We'll identify everything
• 55:52
  Speaker 4: that's wrong, then start putting numbers to it. So we
• 55:54
  Speaker 4: did that a few times, and then what I would
• 55:56
  Speaker 4: do is pull up to properties and I tell him
• 55:58
  Speaker 4: to go in and come back with a number, and
• 56:02
  Speaker 4: so that's how that's how he learned. So he was
• 56:05
  Speaker 4: the first one really interested. And then after that my
• 56:09
  Speaker 4: other son at the time, he was fast forward. He
• 56:14
  Speaker 4: was trying to wrap, but that ain't work out. That
• 56:20
  Speaker 4: ain't really work out too well, so and so so
• 56:27
  Speaker 4: fast forward. What happened was Brian went to college and
• 56:32
  Speaker 4: that wasn't really working out. That that didn't really work
• 56:36
  Speaker 4: out for him, and I felt like he wanted to
• 56:40
  Speaker 4: do real estate, but he went to college for another reason.
• 56:44
  Speaker 4: And so we started having this this real estate conversation
• 56:48
  Speaker 4: and I basically let him come work with me for
• 56:52
  Speaker 4: free to show me that he was serious. And so
• 56:57
  Speaker 4: he came to work with me for free. He started
• 57:00
  Speaker 4: going on home depot picking up material, overseeing projects. So
• 57:04
  Speaker 4: he did that on a couple of projects, and I
• 57:06
  Speaker 4: seen that he was committed, like the project was his.
• 57:09
  Speaker 4: And after that I started to pay him to oversee projects.
• 57:13
  Speaker 4: And then around the same time, some sweet opportunities presented himself,
• 57:18
  Speaker 4: and then he went half with me on a couple
• 57:20
  Speaker 4: of properties. And then and then his brother. I guess
• 57:24
  Speaker 4: he couldn't resist seeing what was taking place, like, you know,
• 57:27
  Speaker 4: his brother getting these checks on properties. He threw his
• 57:29
  Speaker 4: rap career away. Yeah, and he joined. And then my
• 57:35
  Speaker 4: oldest daughter, I remember one day talking to her, she
• 57:40
  Speaker 4: was living in Atlanta at the time, and she said,
• 57:43
  Speaker 4: I'm ready to get my first property. I wanted to
• 57:45
  Speaker 4: going on a property with me, and I was thinking, like,
• 57:47
  Speaker 4: I'm like, you got some money, and so we did
• 57:51
  Speaker 4: our first property together. We bought a property through one
• 57:54
  Speaker 4: of my bank connections and flipped it without doing anything
• 57:58
  Speaker 4: to it.
• 57:58
  Speaker 2: That was her entry.
• 58:01
  Speaker 4: And yeah, my youngest daughter she's in a process of
• 58:05
  Speaker 4: buying the property as we speak. She has a different business.
• 58:09
  Speaker 4: She made her first six figures last year and her
• 58:12
  Speaker 4: business congratulations.
• 58:14
  Speaker 6: So everybody's more so it's not like a set role.
• 58:16
  Speaker 6: It's just like they investors with you. They're like partners
• 58:20
  Speaker 6: in different correct than they do they they're doing their
• 58:22
  Speaker 6: own thing on the side as well. Yes, so they're
• 58:26
  Speaker 6: building their own real estate portfolio. Some of it is
• 58:28
  Speaker 6: with you, some of it is by themselves.
• 58:29
  Speaker 2: Yep a sense.
• 58:32
  Speaker 3: Yeah, as long as he doesn't try to fund his
• 58:33
  Speaker 3: rap career from it, we'll see.
• 58:38
  Speaker 4: It wouldn't be wise.
• 58:40
  Speaker 6: So do you have a goal as far as to say, okay,
• 58:43
  Speaker 6: this is the amount of properties that I want to
• 58:45
  Speaker 6: have in ten years, fifteen years, twenty years, or for
• 58:47
  Speaker 6: the family, or this is or do you do you
• 58:50
  Speaker 6: evaluate your business like that?
• 58:52
  Speaker 4: Or actually I don't. I don't I don't even think
• 58:57
  Speaker 4: about retiring, Like, I don't think about some endpoint. I don't.
• 59:04
  Speaker 4: I know it sound good like to say yeah, this, that,
• 59:07
  Speaker 4: but I don't.
• 59:08
  Speaker 2: So at what point?
• 59:10
  Speaker 3: I mean, you've had an illustrious career in real estate,
• 59:14
  Speaker 3: obviously you've been teaching your family, But what point do
• 59:17
  Speaker 3: you decide to say, all right, I need to teach
• 59:20
  Speaker 3: the general public because there's so many people that need
• 59:23
  Speaker 3: to learn, people being taken advantage of.
• 59:25
  Speaker 2: When do you start to do that?
• 59:26
  Speaker 4: Well, actually, I just I just started doing that well
• 59:29
  Speaker 4: a couple of years ago, as soon as the pandemic started.
• 59:33
  Speaker 4: I started thinking about teaching because the way that I
• 59:39
  Speaker 4: was taught, my guy walked me through properties, and I
• 59:42
  Speaker 4: was like, I want to teach the same way. I
• 59:44
  Speaker 4: think that's the best way to learn real estate is
• 59:46
  Speaker 4: an actual property. So I came up with the teaching,
• 59:53
  Speaker 4: like inviting people to Cleveland and teaching them. So I
• 59:56
  Speaker 4: had a vision wasn't already thought out. I'm one of
• 1:00:00
  Speaker 4: those people that run a lot of no huddles, like
• 1:00:02
  Speaker 4: with no play like I run like I run no huddles,
• 1:00:06
  Speaker 4: like I've made my best decisions running no huddles, And
• 1:00:11
  Speaker 4: so I ran the idea to play by Nita, cousin Nita,
• 1:00:15
  Speaker 4: and to get her to get her to partner with me,
• 1:00:19
  Speaker 4: because I wanted to add as much value as possible
• 1:00:21
  Speaker 4: to the people, and so I ran to play by
• 1:00:23
  Speaker 4: cousin Nita, like to want her to be a part.
• 1:00:26
  Speaker 4: And so she started to give me like these ideas
• 1:00:31
  Speaker 4: and you know, just to kind of help from the side.
• 1:00:33
  Speaker 4: I'm like, nah, I want you undivided attention, like we're
• 1:00:36
  Speaker 4: gonna partner and run this play. And so that's when
• 1:00:38
  Speaker 4: we came up with the Cleveland Infield training with the pros,
• 1:00:41
  Speaker 4: where we invite people to Cleveland for a day. We
• 1:00:43
  Speaker 4: go through zip codes, we talk specific strategies for each
• 1:00:46
  Speaker 4: zip code in Cleveland. We going to real properties that
• 1:00:49
  Speaker 4: we own and teach them just like I learned, teach
• 1:00:52
  Speaker 4: them how to you know, analyze, evaluate and analyze deals.
• 1:00:56
  Speaker 4: So that's where it started at and then just here
• 1:00:58
  Speaker 4: recently I started a start to mentor people. It was
• 1:01:03
  Speaker 4: a it was something that I got a love for
• 1:01:06
  Speaker 4: helping people. But that's a that's a commitment, and you know,
• 1:01:10
  Speaker 4: my sister Dane or Christian pushed me to do that.
• 1:01:14
  Speaker 4: But I'm glad I'm doing. It's therapy for me.
• 1:01:17
  Speaker 6: Yeah, I mean, I like you because it's area specific.
• 1:01:21
  Speaker 6: It's not like, you know, this is broad range real
• 1:01:24
  Speaker 6: estate advice for the whole country, because it's like what's
• 1:01:26
  Speaker 6: relevant in New York is not relevant in California or
• 1:01:29
  Speaker 6: relevant in Alaska, New Mexico. So sometimes, you know, it's
• 1:01:32
  Speaker 6: hard for people to just say this is the one
• 1:01:36
  Speaker 6: way to do things because like some areas you can't
• 1:01:39
  Speaker 6: even real estate. You can't wholesale real estate. So it's
• 1:01:43
  Speaker 6: like if you're teaching wholesale and real estate, and I
• 1:01:45
  Speaker 6: think Chicago they just outlawed that or something like that,
• 1:01:47
  Speaker 6: so it might not what you're teaching in Indiana might
• 1:01:52
  Speaker 6: not even be relevant in Chicago, even though they're relatively
• 1:01:55
  Speaker 6: very close to each other. Like you know what I'm saying.
• 1:01:56
  Speaker 6: So the fact that you are just like drilling out
• 1:02:00
  Speaker 6: on your area, I think it's beneficial. And like I said,
• 1:02:02
  Speaker 6: you don't necessarily have to live in an area to invest,
• 1:02:06
  Speaker 6: because we invest and we don't live in Connecticut. We
• 1:02:09
  Speaker 6: got properties in Connecticut, and we got properties in Cleveland.
• 1:02:12
  Speaker 6: We was looking at Chicago, so all of the areas
• 1:02:14
  Speaker 6: that we was actually looking at for real estate. None
• 1:02:16
  Speaker 6: of them was in New York for a variety of
• 1:02:18
  Speaker 6: different reasons. So I think that that there's there's there's
• 1:02:23
  Speaker 6: a lot to be said for being an expert in
• 1:02:26
  Speaker 6: your area, like you know what I mean, instead of
• 1:02:28
  Speaker 6: trying to be a jack of all trades and cover
• 1:02:31
  Speaker 6: every single area. Let me ask you this before we rap.
• 1:02:36
  Speaker 6: What are some of the biggest mistakes that people that
• 1:02:38
  Speaker 6: you have seen people make in real estate? Because it's
• 1:02:41
  Speaker 6: all about you know, learning from your mistakes, but I
• 1:02:44
  Speaker 6: feel like the best way is to learn from other
• 1:02:46
  Speaker 6: people's mistakes. So this is like if somebody can hear
• 1:02:49
  Speaker 6: some of these some of these things and they can say, Okay,
• 1:02:52
  Speaker 6: this is something that I shouldn't do or I should
• 1:02:54
  Speaker 6: stay away from. Like what are some of the mistakes
• 1:02:55
  Speaker 6: that people make it? Or maybe use your yourself as me.
• 1:02:59
  Speaker 4: Of one of the biggest mistakes people make is they
• 1:03:03
  Speaker 4: say that you can't buy a property for you know,
• 1:03:09
  Speaker 4: you can't buy a building for one hundred thousand in
• 1:03:11
  Speaker 4: New York or LA. So this person sent me this
• 1:03:16
  Speaker 4: this building. I bought it because I can't buy that
• 1:03:18
  Speaker 4: at home. Right, you need to understand that market before
• 1:03:23
  Speaker 4: you just say I can't get it. Yeah, it's a
• 1:03:27
  Speaker 4: good deal because in LA I can't do it. In
• 1:03:29
  Speaker 4: New York, I can't do it. So so many people
• 1:03:31
  Speaker 4: have reached out to me after they bought a building
• 1:03:34
  Speaker 4: in Cleveland for one hundred thousand on the street where
• 1:03:36
  Speaker 4: it ain't no other property on the street except that building,
• 1:03:39
  Speaker 4: or they bought the building and the building is on
• 1:03:42
  Speaker 4: the condemn list and need five hundred thousand dollars in
• 1:03:45
  Speaker 4: repairs that you didn't know about. So you need to
• 1:03:49
  Speaker 4: you need to know that specific market that you plan
• 1:03:51
  Speaker 4: to invest in. You can't how you're going to compare
• 1:03:54
  Speaker 4: it to New York when you don't understand the market
• 1:03:57
  Speaker 4: to taking a quick claim d instead of going through
• 1:04:02
  Speaker 4: the title company.
• 1:04:03
  Speaker 2: That's it.
• 1:04:04
  Speaker 4: I know at least two hundred people, I would say
• 1:04:10
  Speaker 4: about two hundred people that have took a quick claim
• 1:04:13
  Speaker 4: deed and they didn't get what they thought they signed
• 1:04:18
  Speaker 4: up for. They got properties with back taxes on it
• 1:04:21
  Speaker 4: that costs more than what they paid for, properties on
• 1:04:24
  Speaker 4: the condemned list, and some of the properties tore down.
• 1:04:28
  Speaker 4: That's huge. Like, build a relationship with a title company first,
• 1:04:32
  Speaker 4: or if you were in it. I was just about
• 1:04:36
  Speaker 4: to say in the state where they don't have title company.
• 1:04:38
  Speaker 4: But we talking about specific to Cleveland. You need a
• 1:04:40
  Speaker 4: real estate attorney on your team. Most of the people
• 1:04:42
  Speaker 4: that I seen lose, if they would have had a
• 1:04:43
  Speaker 4: real estate attorney on a team to look over the
• 1:04:46
  Speaker 4: documents that they signed, they wouldn't have lost. Like, it's
• 1:04:50
  Speaker 4: almost impossible to lose with a real estate attorney on
• 1:04:53
  Speaker 4: your team.
• 1:04:54
  Speaker 6: And it doesn't cost that much.
• 1:04:56
  Speaker 4: It's cheaper than the property getting tore down or you're
• 1:04:59
  Speaker 4: buying a property with you know, twenty thousand dollars worth
• 1:05:02
  Speaker 4: of back taxes on it. And then also not properly
• 1:05:05
  Speaker 4: vetting the people that they want to do business with.
• 1:05:08
  Speaker 4: They looking at social media and they looking at somebody's lifestyle,
• 1:05:12
  Speaker 4: And I tell people, like, somebody's lifestyle can't put food
• 1:05:15
  Speaker 4: on the table for you and your kids. You're looking
• 1:05:18
  Speaker 4: at the wrong thing. You need to be focused on
• 1:05:19
  Speaker 4: the business. So talk to about ten people that have
• 1:05:22
  Speaker 4: done business with the individual that you planning to do
• 1:05:24
  Speaker 4: business with, like vet them out. Yeah, very important. What
• 1:05:29
  Speaker 4: about some mindset? And when we was in London, you
• 1:05:32
  Speaker 4: gave a very powerful, passionate speech. So then when we're
• 1:05:37
  Speaker 4: talking about the mindset, and that could be for real estate,
• 1:05:40
  Speaker 4: that could be for business, that could be for life.
• 1:05:42
  Speaker 6: I know you're real big on that. Like how important
• 1:05:46
  Speaker 6: is it for people to have their mind right before
• 1:05:48
  Speaker 6: they even think about starting investing or building an empire?
• 1:05:53
  Speaker 4: Mindset is the key. Mindset is the foundation of everything.
• 1:05:58
  Speaker 4: With the right mindset, you could build an empire. You
• 1:06:02
  Speaker 4: could lose an empire and build another one with the
• 1:06:05
  Speaker 4: with the right mindset. I think that most people that
• 1:06:10
  Speaker 4: pray for financial breakthrough, what they need first is a
• 1:06:16
  Speaker 4: mental breakthrough, because with the mental breakthrough, the financial breakthrough
• 1:06:21
  Speaker 4: will be a byproduct. I think when you really tap
• 1:06:25
  Speaker 4: in and focus on personal development and mindset, you you
• 1:06:31
  Speaker 4: tap into getting closer to know who you really are
• 1:06:36
  Speaker 4: as as a human being. You you start to develop
• 1:06:40
  Speaker 4: a relationship with yourself so you see no need to
• 1:06:43
  Speaker 4: go outside of yourself for things that you already have.
• 1:06:48
  Speaker 4: Like most of us are looking for happiness outside somewhere.
• 1:06:52
  Speaker 4: Happiness is yours, is your your birthright, like it's inside
• 1:06:56
  Speaker 4: of you. I can remember, you know, uh, my late
• 1:07:00
  Speaker 4: teens looking for happiness outside of myself, looking for happiness
• 1:07:05
  Speaker 4: and relationships, and then when people left me, like I'm
• 1:07:09
  Speaker 4: at my bottom of lords because now I got to
• 1:07:11
  Speaker 4: go find feel like, I got to find somebody else
• 1:07:13
  Speaker 4: so I could be whole again, when okay, you already
• 1:07:16
  Speaker 4: created hole. I can remember in my early twenties setting
• 1:07:19
  Speaker 4: a goal, you know, I was eighteen, setting a goal
• 1:07:22
  Speaker 4: to make six figures because I felt like the money
• 1:07:25
  Speaker 4: would fill the voids that I was feeling from you know,
• 1:07:29
  Speaker 4: childhood trauma, you know, abuse, bully, et cetera. And then
• 1:07:33
  Speaker 4: I reached the goal and I'm looking around looking for
• 1:07:36
  Speaker 4: some miracle to take place. Nothing happened. I was more
• 1:07:39
  Speaker 4: you know, stressed than what I was before I got
• 1:07:42
  Speaker 4: the money. And it was like at that point when
• 1:07:44
  Speaker 4: I came out of that place, I realized that everything
• 1:07:48
  Speaker 4: that I was looking for is inside of me. It's
• 1:07:51
  Speaker 4: not in the money. Because Okay, I got the money,
• 1:07:54
  Speaker 4: I still feel weak, I still feel empty. And at
• 1:07:58
  Speaker 4: that moment, I started to work on myself, start to
• 1:08:01
  Speaker 4: be conquerable, getting comfortable with myself as a man. Because
• 1:08:05
  Speaker 4: most of us we fit the description, but we still boys.
• 1:08:10
  Speaker 4: We just fit the description. And so once you get
• 1:08:12
  Speaker 4: to that place, or once I got to that place
• 1:08:14
  Speaker 4: at that time, at that point I knew that I
• 1:08:17
  Speaker 4: made it so it was like, like the money is
• 1:08:20
  Speaker 4: just a buy product. Like, so that's why I focus
• 1:08:23
  Speaker 4: on relationships. That's why I walk away from a million
• 1:08:26
  Speaker 4: dollar situation and people wondering like like, how can you
• 1:08:29
  Speaker 4: just do that? Like, dude, I'm basically telling you that
• 1:08:31
  Speaker 4: I'm gonna I'm gonna cut you in on this and
• 1:08:33
  Speaker 4: we're gonna make this money. But I'm like, your your
• 1:08:36
  Speaker 4: your words and actions don't line up. I want to
• 1:08:39
  Speaker 4: do no business with you because I know that I'm
• 1:08:41
  Speaker 4: pre approved by God. It's just a matter of time
• 1:08:43
  Speaker 4: before I have everything that I want and it's gonna
• 1:08:46
  Speaker 4: preapproved by God.
• 1:08:48
  Speaker 2: Sile.
• 1:08:49
  Speaker 4: So it's relationships, you know. So mindset is everything after mindset,
• 1:08:54
  Speaker 4: it's a relationship, Like how did I get here? Like
• 1:09:00
  Speaker 4: very important? Yeah, the most valuable currency relationships.
• 1:09:03
  Speaker 2: Taking places that money can't.
• 1:09:05
  Speaker 3: Yeah, quick question before we go, are there any other
• 1:09:08
  Speaker 3: things that you're invested in outside of real estate? I
• 1:09:10
  Speaker 3: know we had a couple of zoom calls in the market.
• 1:09:14
  Speaker 3: Are you still pursuing that as something or it's just
• 1:09:16
  Speaker 3: like you know, are you still trying to find other
• 1:09:20
  Speaker 3: places to invest?
• 1:09:21
  Speaker 6: Oh?
• 1:09:21
  Speaker 4: Absolutely absolutely, So I put some money in in crypto,
• 1:09:25
  Speaker 4: cut a little in stocks. Still intrigued by that, Like, yeah.
• 1:09:30
  Speaker 2: That was an intense zoom goal.
• 1:09:32
  Speaker 4: Yeah. It was like my son, Yeah, my son was
• 1:09:34
  Speaker 4: on there. Yeah, it was on there.
• 1:09:36
  Speaker 2: I was like, yeah, thats gonna get this. Yeah.
• 1:09:41
  Speaker 4: I appreciate that.
• 1:09:43
  Speaker 2: I appreciate that. I said, you water share long enough
• 1:09:45
  Speaker 2: anything I could do nothing.
• 1:09:46
  Speaker 4: Yeah, yeah, I appreciate that.
• 1:09:48
  Speaker 2: No problem.
• 1:09:49
  Speaker 4: And so and so me and a couple of my
• 1:09:50
  Speaker 4: friends just started like a private bank too. Yeah. So
• 1:09:55
  Speaker 4: soon we're gonna share the details so other people can
• 1:09:59
  Speaker 4: do do this same thing. So we put together yep,
• 1:10:01
  Speaker 4: we know, fifteen of us got together, put some money together,
• 1:10:06
  Speaker 4: you know, got everything set up. So pretty soon, within
• 1:10:11
  Speaker 4: the next few weeks, we're going to share the details
• 1:10:13
  Speaker 4: so others con mimic it. It's something I've been wanting
• 1:10:16
  Speaker 4: to do for years. But most people just talk. And
• 1:10:21
  Speaker 4: so with somebody I just we just started doing business
• 1:10:23
  Speaker 4: probably thirty six months ago, and like, he not a
• 1:10:26
  Speaker 4: talker and he's the same individuals that is mentoring me
• 1:10:30
  Speaker 4: when it comes to commercial real estate. So that's where
• 1:10:32
  Speaker 4: we that's where we headed.
• 1:10:33
  Speaker 2: Next.
• 1:10:35
  Speaker 6: Is there a lot of Chinese investment in Cleveland? Repeat
• 1:10:38
  Speaker 6: that Chinese a lot of Chinese investors coming.
• 1:10:42
  Speaker 4: I haven't connected with any Chinese. I think the largest
• 1:10:45
  Speaker 4: group in Cleveland it's probably the Israel, the Israel. The Israelis.
• 1:10:50
  Speaker 4: They got some over in Israel or they teaching people
• 1:10:54
  Speaker 4: how to come to Cleveland to attract people, to get
• 1:10:58
  Speaker 4: them to sell properties for pennies on the dollar, you know,
• 1:11:01
  Speaker 4: waving money in front of them, saying, you know, I
• 1:11:05
  Speaker 4: got ten million, so you know, give me a good
• 1:11:06
  Speaker 4: deal on this.
• 1:11:07
  Speaker 6: And you know.
• 1:11:08
  Speaker 4: So they basically got a school over in Israel, somebody
• 1:11:11
  Speaker 4: training them to come to Cleveland and set up shot.
• 1:11:15
  Speaker 4: It's interesting.
• 1:11:16
  Speaker 2: Wow, that's crazy.
• 1:11:17
  Speaker 4: Well you know, yeah, well what's what's next.
• 1:11:20
  Speaker 6: What's what's on the horizon for you? Any any new
• 1:11:24
  Speaker 6: ventures that you're working on, or any events, I know
• 1:11:28
  Speaker 6: you had an event previously, any new events that you
• 1:11:31
  Speaker 6: got coming up, anything like that.
• 1:11:32
  Speaker 4: Yeah. So we're doing a Cleveland infield training with the
• 1:11:35
  Speaker 4: pros September twenty fourth, Cleveland Infield training with the Pros.
• 1:11:40
  Speaker 4: Also the bank venture. Like that's that's huge. I think
• 1:11:45
  Speaker 4: that's gonna be a game changer for for a lot
• 1:11:48
  Speaker 4: of people and and just elevating to the commercial So
• 1:11:55
  Speaker 4: that's that's Uh, that's exciting. We bought a thirteen years
• 1:12:00
  Speaker 4: the building a few weeks ago, thirteen you on the
• 1:12:02
  Speaker 4: ten car garage and so that space is super interesting.
• 1:12:09
  Speaker 6: Hope, hope, congratulations, Thank you makes sense and sense. It's
• 1:12:13
  Speaker 6: been a pleasure, my brother. I want to thank you.
• 1:12:16
  Speaker 6: Telling people how they can follow you on social media, website,
• 1:12:20
  Speaker 6: any information like that.
• 1:12:22
  Speaker 4: You can hit me on social media beyond when b
• 1:12:25
  Speaker 4: E y O N D last name, when w y
• 1:12:29
  Speaker 4: n N beyond when all social media platforms. Uh, you
• 1:12:33
  Speaker 4: could check out the menual things that I offer beyond
• 1:12:36
  Speaker 4: when dot com beyond when dot Com. There you have it,
• 1:12:40
  Speaker 4: ladies and gentlemen, Troy housekeeping items.
• 1:12:42
  Speaker 2: I feel like beyond to do this part. Man.
• 1:12:44
  Speaker 3: Shout everybody that's a ploy and the merged. Shout out
• 1:12:46
  Speaker 3: to our ambassador.
• 1:12:49
  Speaker 2: That's always trying to sapport it.
• 1:12:50
  Speaker 3: I said, look, I'm gonna try to wear color he
• 1:12:52
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• 1:12:55
  Speaker 2: So shout out to him, and shout to everybody that's
• 1:12:56
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• 1:12:57
  Speaker 3: Shout to everybody on uyl University or our earners out there,
• 1:13:00
  Speaker 3: love us Love. Shout to everybody on Patreon and yeah,
• 1:13:02
  Speaker 3: let's continue to spread the word.
• 1:13:05
  Speaker 6: Yes, and if you see us in Cleveland, we will
• 1:13:07
  Speaker 6: be buying property. You gotta we gotta get some. We'll
• 1:13:10
  Speaker 6: talk off. We gotta run them plenty.
• 1:13:13
  Speaker 4: So if you see us AT's growth, say what's up?
• 1:13:17
  Speaker 4: Thank you guys for rocking us. We'll see you next week.
• 1:13:18
  Speaker 6: Peace.
• 1:13:19
  Speaker 5: Peace, My graduates from my school being forced back drop
• 1:13:26
  Speaker 5: b drop, Mike, dropdrop.
• 1:13:32
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