Latest / Money And Wealth With John Hope Bryant / The Path to Homeownership

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The Path to Homeownership · Money And Wealth With John Hope Bryant

0:00
Speaker 1: Welcome to Money in Wealth with John ho'bryant, a production
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Speaker 1: of the Black Effect Podcast Network and iHeartRadio. Hey, Hey,
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Speaker 1: this is John Hope Bryant, and this is the Money
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Speaker 1: in Wealth podcast series on iHeartRadio on the Black Effect Network.
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Speaker 1: And this is a special episode, as you all know,
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Speaker 1: and thank you all for making this podcast a top
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Speaker 1: fifty podcast for entrepreneurship on Apple in the United States
0:35
Speaker 1: and pop Top one hundred and fifty on business, and
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Speaker 1: top two hundred and fifty around the world on every
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Speaker 1: continent for business and entrepreneurship. We have sparked and are
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Speaker 1: sparking a movement around what I call silver rights, from
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Speaker 1: civil rights to silver rights. And I believe financial literacy
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Speaker 1: is a civil rights issue of this generation. Believed that
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Speaker 1: AI literacy is the silvi rights issue of this generation.
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Speaker 1: And I believe that these two things are really future
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Speaker 1: literacy for future generations. And living an aspirational life, I
1:11
Speaker 1: believe that we are going to go from the streets
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Speaker 1: to the suites and move from access to ownership. And
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Speaker 1: that's what this podcast episode's about. Is actional is making
1:24
Speaker 1: ownership actionable for the average everyday person. Some people feel
1:30
Speaker 1: even though I tell my story over and over again
1:32
Speaker 1: that I was homeless, and I witnessed my mom and
1:39
Speaker 1: dad divorced in front of me, and domestic abuse, abuse
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Speaker 1: in front of me when I was four or five
1:45
Speaker 1: years old, and murder in front of me when I
1:50
Speaker 1: was six or seven, and the death of my best
1:52
Speaker 1: friend before I was nine. All that and more, people
1:56
Speaker 1: seem to tend to not steal sometimes relate to my
2:02
Speaker 1: story because they think, well, look at him now, and
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Speaker 1: he's bought seven hundred homes. I can't relate to that.
2:13
Speaker 1: I'm trying to buy one. Well, we've got somebody with
2:17
Speaker 1: us who is bought one and did it brilliantly. And
2:21
Speaker 1: before we get into that, the reason I underscore this
2:25
Speaker 1: is I don't bring guests on often on the show.
2:31
Speaker 1: It's this, as people know, this is typically me in conversation.
2:35
Speaker 1: So if I bring a guest on, it's a big deal,
2:37
Speaker 1: and it's typically some CEO or celebrity or whatever. And
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Speaker 1: this is both a CEO and a celebrity of our community.
2:46
Speaker 1: They have made a dream real. Now what kind of dream?
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Speaker 1: Home ownership? I have said to you that the number
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Speaker 1: one way you build wealth in America is home ownership.
3:00
Speaker 1: I have tried to underscore that seventy five percent of
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Speaker 1: our mainstream counterparts are white friends have bought a home
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Speaker 1: and own one. I've tried to explain to you that
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Speaker 1: the entire tax policy of the United States of America,
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Speaker 1: the biggest economy in the world, is based around supporting
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Speaker 1: home ownership. You get to write off your mortgage payment,
3:26
Speaker 1: get to write off interest mortgage interests. You get to
3:30
Speaker 1: benefit from depreciation if it's a income producing property, and
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Speaker 1: appreciation for any property is so many benefits of home
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Speaker 1: ownership that you don't get as a renter. If you're
3:44
Speaker 1: a renter, you'll you know, you'll be worth a couple
3:46
Speaker 1: hundred bucks. I mean, like, I'm not joking. If you're
3:52
Speaker 1: a homeowner, you're it's a couple hundred thousand dollars. It's
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Speaker 1: not even close. It's night and day difference. But most
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Speaker 1: Americans own don't own a home. Between forty and forty
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Speaker 1: five percent of his own a home, less than half.
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Speaker 1: But it's the easiest pathway to create wealth and generational wealth.
4:10
Speaker 1: You make money during the day, you build wealth in
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Speaker 1: your sleep. But it's a daunting, overwhelming thought for most people.
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Speaker 1: And if you buy a home and you buy it wrong,
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Speaker 1: you end up in two thousand and eight two thousand
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Speaker 1: and eight mortgage crisis. It wasn't a problem with people
4:27
Speaker 1: owning a home. It is a problem with people buying
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Speaker 1: it wrong. If you get a toe up mortgage underneath
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Speaker 1: a home, it's really like getting a It's like going
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Speaker 1: and buying a car with a five hundred credit score.
4:39
Speaker 1: You're going to a B or C car dealership meaning
4:43
Speaker 1: secondary in your neighborhood telling used cars with bad financing,
4:48
Speaker 1: and that's not going to be a Mercedes you bought.
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Speaker 2: It's going to be a Mercedes payments. And so if you.
4:54
Speaker 1: Buy a mortgage, if you get a home and that
4:58
Speaker 1: home has a structured mortgage, that is subprime, as they
5:03
Speaker 1: would say, it's a bomb waiting to explode. If you
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Speaker 1: get an adjustable rate loan tied to that mortgage, that mortgage,
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Speaker 1: that adjustable rates not going down, that is going to
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Speaker 1: adjust up, and as it adjusts up, if you asked
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Speaker 1: what was a payment, you bought a home like you
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Speaker 1: shouldn't buy even a car, which is asking what's the payment.
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Speaker 1: You never asked what the payment is when there's an
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Speaker 1: interest rate attached. But if you got bought a home
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Speaker 1: with six figures attached to it and asked what was
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Speaker 1: the payment, and that payment was making this up fifteen
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Speaker 1: hundred dollars a month, and you said, okay, I can
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Speaker 1: do that. And it was an adjustable rate mortgage. It's
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Speaker 1: going to in all likelihood adjust over time up and
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Speaker 1: in three years that payment may be double. So the
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Speaker 1: house didn't change, but your finances did it. In that situation,
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Speaker 1: adjustable rate mortgage is negative amorgation mortgages, which means the
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Speaker 1: more money you pay, the more you owe. Every payment
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Speaker 1: you make, you owe more because you're stuck on the payment,
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Speaker 1: but the payment's not covering principle and interest of the agreement,
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Speaker 1: and so it's negative amortization. You are literally owing more
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Speaker 1: every day. So all this financial illiteracy helped to create
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Speaker 1: the mortgage crisis of two thousand and eight that really
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Speaker 1: deadened a lot of people of color from buying a
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Speaker 1: home and owning one. And so we want to reimagine that.
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Speaker 1: We want to change that. You cannot have a rainbow
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Speaker 1: without a storm. First can't grow except through legitimate suffering.
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Speaker 1: So other people have gone through the valley for you,
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Speaker 1: and we have one of those people with us today,
6:47
Speaker 1: and I am going to stop talking and turn it
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Speaker 1: over to one of our financial coaches, Lester, who is
6:55
Speaker 1: going to Lester Watt, who is going to interview you
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Speaker 1: this wonderful lady and testimonial for Operation Hope and unpack
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Speaker 1: a story that you can relate. So I am really
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Speaker 1: excited now to give you a living example of what
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Speaker 1: Hope looks like, of the kind of people who are
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Speaker 1: dignity rich, who are changing their lives, who are living
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Speaker 1: the dream and maybe didn't think they could. They're an
7:27
Speaker 1: Operation Hope success story. They're both heroes and in this
7:30
Speaker 1: case a Shiro and the people who help to make
7:33
Speaker 1: it so are Hope financial coaches, which I call a
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Speaker 1: private banker for the working class, the working class and
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Speaker 1: the working middle class. Our private bankers are in fifteen
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Speaker 1: hundred offices, three hundred officers staffed by my team, literally
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Speaker 1: in forty three states, and one of those dream makers
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Speaker 1: is with us today, meet Lester Watt.
8:01
Speaker 3: Thank you, mister Chairman.
8:03
Speaker 4: I have the pleasure of introducing one of my truly
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Speaker 4: truly success stories, Miss Leanne Brown. About two and a
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Speaker 4: half years ago, Leanne actually came to me and said
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Speaker 4: that she wanted to be a homeowner. That was her
8:21
Speaker 4: goal was to stop writing and build wealth for herself
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Speaker 4: and stop building wealth for her landlord. And as I
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Speaker 4: do with all the clients when they come and say, hey,
8:32
Speaker 4: I want to be a homeowner, I said, listen, there's
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Speaker 4: a process, right, and I want to know your why.
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Speaker 4: Why do you want to become a homeowner? And a
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Speaker 4: lot of I'll get different responses. They'll say, oh, I
8:46
Speaker 4: want to have a backyard for my children. In Leanne's case,
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Speaker 4: she wanted to have a home for her and her mother.
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Speaker 4: And so as we went through this process, she brought
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Speaker 4: her mother on board and we helped her mom and
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Speaker 4: her to get our credit, get their scores to grow
9:04
Speaker 4: one hundred and twenty one.
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Speaker 3: Points right and got it.
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Speaker 4: And I told them as and I told Land, I said, listen,
9:10
Speaker 4: as you go back through this process, when we're doing
9:15
Speaker 4: the getting the credit cleaned up, there's something the things
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Speaker 4: that she had to get worked out on the credit
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Speaker 4: budget was the first thing.
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Speaker 3: That we looked at.
9:23
Speaker 4: Land. She looked at that budget and I said, all right,
9:26
Speaker 4: we talked about how much money we're spending on eating out,
9:29
Speaker 4: and you know, once versus need, when we're out spending.
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Speaker 4: And I said, you're going to have to refer you
9:34
Speaker 4: may during this process, you may have to refer back
9:38
Speaker 4: to your why you're wanting to go through this as
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Speaker 4: these things go and get difficult. When that when that
9:44
Speaker 4: banker asked you for that that that bank statement for
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Speaker 4: the third time because the old ones have expired.
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Speaker 3: Hey, don't fight it. Just give them whatever they need
9:54
Speaker 3: so that we can get through it.
9:56
Speaker 4: And so Leanne decided she was going to go through
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Speaker 4: She said, I'm all in going through the process and
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Speaker 4: her amazing story and I want her to touch on
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Speaker 4: this to tell the story of how she went through
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Speaker 4: the process and then decided to take it further as
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Speaker 4: we were talking earlier, about passing it on to her
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Speaker 4: children so that she can build generational wealth for her
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Speaker 4: and pass all the information that I gave her on
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Speaker 4: to her kid so she can break that cycle.
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Speaker 3: So then.
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Speaker 4: Would you like to talk and tell you a story
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Speaker 4: about how you decide to do that.
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Speaker 5: Yes, yes, First I want to thank mister John Hope
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Speaker 5: Brian for having me today. I also want to thank
10:43
Speaker 5: you for Operation Hope, because it's because of your story
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Speaker 5: and your company that's put.
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Speaker 6: Me in this position where I am today, so I
10:51
Speaker 6: really appreciate it.
10:53
Speaker 5: Just like Lester said, I contacted first the bank Cadence
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Speaker 5: Bank here in Memphis, Tennessee, mss Ruth Phillips, and she
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Speaker 5: pulled my credit report and everything because I was interested
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Speaker 5: in buying a home.
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Speaker 6: Well, I had the down payment and I had all
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Speaker 6: the money.
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Speaker 5: So like most people, you're thinking, Okay, you got money,
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Speaker 5: You're good to go.
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Speaker 1: Uh.
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Speaker 6: But I learned real quickly your credit is your resume.
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Speaker 3: Uh.
11:21
Speaker 6: I think people really understand your credit is your resume.
11:24
Speaker 5: If you're going a job, they're gonna look and see
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Speaker 5: can they trust you? How you've been thus far? You
11:30
Speaker 5: want to come here, Well, I need to know what
11:32
Speaker 5: I'm working with. So it's pretty much what I felt
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Speaker 5: like when she did that, and she was like, wait
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Speaker 5: a minute.
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Speaker 6: You know, and life happens, you know.
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Speaker 1: Uh.
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Speaker 5: Credit is not something that I learned working with mister Lester.
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Speaker 5: Is something that you don't have to feel bad about,
11:46
Speaker 5: because life does happen. But when a company like Operation
11:49
Speaker 5: Hope they want to bring you out, you don't have
11:51
Speaker 5: to stay stuck. He wants to bring you from that stagnation,
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Speaker 5: that mindset that this is just is who I am.
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Speaker 5: So but when she said I got to get you
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Speaker 5: some help, I was like okay, and she said I'm
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Speaker 5: a contact with you, Lester. She didn't do a lot
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Speaker 5: alone talk. She just say I'm contact with you with
12:10
Speaker 5: operation hope they can help you. I got by the
12:12
Speaker 5: name of Leicster, so I contacted him and it went
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Speaker 5: up from there.
12:18
Speaker 6: First of all, we did a financial work sheet.
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Speaker 1: Before you before before you do that, before you get
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Speaker 1: into what happened and how you move forward, what's your backstory?
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Speaker 1: Like why how do you get in this situation where
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Speaker 1: you know you didn't know where you didn't know? I mean, clearly,
12:33
Speaker 1: you're a smart lady. And what I keep telling people
12:35
Speaker 1: is that you're not dumb and you're not stupid. Is
12:37
Speaker 1: what you don't know that you don't know, but you
12:39
Speaker 1: think you know. You never talked, no ever taught to
12:41
Speaker 1: you financial literacy. We end up making a bunch of
12:43
Speaker 1: We end up we end up learning by making mistakes,
12:46
Speaker 1: and those mistakes are costly. As you said, your credit
12:49
Speaker 1: report is your resume was a greater beautiful way of
12:51
Speaker 1: saying that.
12:52
Speaker 2: But that my guess is that lesson was learned the
12:54
Speaker 2: hard way, right, So you.
12:57
Speaker 1: Tell me a little bit and let te us a
12:58
Speaker 1: little bit about where you came from and high you
13:00
Speaker 1: got here and learned these lessons, right, that's right.
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Speaker 5: Well, I came from an area it's like South Memphis.
13:08
Speaker 6: I grew up in South Memphis.
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Speaker 5: And so my mom, well she had nine eight other siblings,
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Speaker 5: so it was nine of them. So you can pretty
13:18
Speaker 5: much think about growing up in a two bedroom home.
13:22
Speaker 6: Thank god, we have a lot of success stories within that.
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Speaker 5: But so, but my mom worked two jobs, so her
13:30
Speaker 5: mindset was making sure, you know, you got food on
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Speaker 5: the table, you got clothes on your back, and these things.
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Speaker 5: So it really won finances and that wasn't a topic
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Speaker 5: even though I knew she she made things work, you know,
13:45
Speaker 5: but it was not discussed how she made it work.
13:49
Speaker 6: Right, So I had to.
13:51
Speaker 5: Learn from trial and era as an adult. I had
13:54
Speaker 5: my daughter young. I had my daughter when I was eighteen,
13:57
Speaker 5: and so I had to learn trial and error growing up,
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Speaker 5: you know, and then the process.
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Speaker 6: Of that you getting things you don't need.
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Speaker 5: You know, you're making financial decisions that you don't know,
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Speaker 5: you're not smart at because you don't know. And that's
14:13
Speaker 5: what I did. And so in the process of that
14:17
Speaker 5: up until you know, I actually contacted missus Ruth.
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Speaker 6: You know, those were the things that I learned that
14:24
Speaker 6: I should have done and I you know, I should
14:26
Speaker 6: not have done and I did. But at the end
14:30
Speaker 6: of the day.
14:30
Speaker 1: I realized, example, what's an example of something you shouldn't
14:35
Speaker 1: have done and you did, a mistake you made. I
14:38
Speaker 1: thought it was a very useful information lester. What she
14:41
Speaker 1: said that she shared with an audience that growing up
14:45
Speaker 1: like the household didn't talk about money. I mean, I
14:48
Speaker 1: say this, but I'm not sure people. People seem to
14:51
Speaker 1: seem to put me in some other category or something like,
14:53
Speaker 1: I don't I didn't struggle. But when she says, I
14:55
Speaker 1: think it has more credibility, they go, yeah, I can
14:57
Speaker 1: relate to that. A lot of our households don't talk
15:01
Speaker 1: about how this all comes about, how the bills get
15:05
Speaker 1: paid or what account it comes from, or who's where
15:10
Speaker 1: the income and how does it get spread over every
15:13
Speaker 1: to pay every twice a month, to pay periods.
15:16
Speaker 2: So your whole life growing up magically happened, but explained
15:23
Speaker 2: how it happened. Is that right? Right?
15:28
Speaker 4: That's very typical, mister Chairman, that a lot of the
15:32
Speaker 4: clients that come to us as a coach, they just
15:36
Speaker 4: don't know. They've never had those conversations. And then so
15:39
Speaker 4: I had an eighty three year old gentleman about two
15:43
Speaker 4: years ago bought his first home, and so we set
15:46
Speaker 4: that process up and he was the prime example to say,
15:51
Speaker 4: I never thought anything about this. In eighty three years
15:54
Speaker 4: of being on this earth, I've never done anything like this.
15:58
Speaker 4: I've never taught my son. And so he got his
16:00
Speaker 4: son and at eighty three years old. So it's a
16:03
Speaker 4: very common thing, especially in the community here in Memphis.
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Speaker 1: So so, and you're and you're a Memphis resident, Mayor
16:12
Speaker 1: Paul Young our part, Yes.
16:14
Speaker 3: Yeah, we were, we were there.
16:16
Speaker 4: I was at the whole Global Forum, uh missus chairman
16:19
Speaker 4: the December first through the third. And I'm not sure
16:22
Speaker 4: if you're aware of this, but on that Future Proofing
16:27
Speaker 4: twenty twenty five, the pen that's there, you've got Lene
16:31
Speaker 4: Brown featured on that pen.
16:33
Speaker 3: Did you know that?
16:34
Speaker 1: I did?
16:35
Speaker 2: And I know that that's beautiful. That's great.
16:37
Speaker 3: Oh yeah, yeah, yeah, So she's fure.
16:39
Speaker 4: I took a picture while I was there of it
16:41
Speaker 4: and sent it to her and she was like, oh
16:44
Speaker 4: my god, are you serious?
16:45
Speaker 3: I said yeah, And so.
16:46
Speaker 4: When I got back in, I got an extra one
16:48
Speaker 4: and I brought her the extra one back.
16:49
Speaker 2: So was that thousands and thousands of people wore her?
16:52
Speaker 1: Oh yeah, and millions of people saw that online. So
16:58
Speaker 1: Len tell Lester and I in the audience unpacked a
17:02
Speaker 1: couple of these stories of how life happened as a
17:06
Speaker 1: result of no one explaining to you in the household
17:09
Speaker 1: how life gets managed. And then we'll get into the
17:13
Speaker 1: current situation.
17:15
Speaker 6: Right. One thing come to mind is credit cards.
17:18
Speaker 5: So when you turn eighteen, you get all these yeses, okay,
17:23
Speaker 5: so when you apply and they say yes a lot
17:26
Speaker 5: of times. What a lot of people don't know those
17:28
Speaker 5: three hundred dollars credit cards are for me. For me
17:33
Speaker 5: at that time was the worst because I didn't have
17:35
Speaker 5: the knowledge to manage it.
17:37
Speaker 6: I was it was a survival mode.
17:40
Speaker 5: You know, when you ate eighteen and you get these
17:43
Speaker 5: credit cards, you don't even realize that, you know, you're
17:45
Speaker 5: living in survival mode. So you get these three hundred
17:48
Speaker 5: dollars credit cards and they say pay the minimum twenty
17:50
Speaker 5: five dollars, and then you thinking, well, you know it's
17:56
Speaker 5: just twenty five dollars. You're not even thinking how it
17:58
Speaker 5: would impact your credit if you're late on that. Uh
18:01
Speaker 5: and then if you go thirty days past due, Now,
18:04
Speaker 5: three hundred dollars has literally.
18:08
Speaker 6: Uh int, you know, interrupt.
18:10
Speaker 5: Your whole life, you know, twenty five dollars, you know,
18:15
Speaker 5: so and you don't think about paying more, you know,
18:18
Speaker 5: at that age, And so I try to right now.
18:21
Speaker 5: That helped me encourage my children now to think twice
18:25
Speaker 5: about being quickly about getting credit cards.
18:28
Speaker 6: You know.
18:29
Speaker 5: So those mistakes that I made growing up then I
18:32
Speaker 5: was trying to buy things that I didn't need, you know.
18:36
Speaker 5: You know I heard somebody say, don't buy five hundred
18:39
Speaker 5: dollar person if you only got twenty dollars, you know.
18:42
Speaker 6: Put you know, that's really tall, you know.
18:47
Speaker 5: And so this I tell you, I have a two
18:49
Speaker 5: I'd rather have a twenty dollar person with two thousand
18:52
Speaker 5: in a bank.
18:52
Speaker 6: You know. All those kind of things play a part
18:57
Speaker 6: in it.
18:59
Speaker 5: You know a lot of people may not speak about it,
19:00
Speaker 5: but that's a lot of people's truth that damage their
19:04
Speaker 5: critic young. And that's what I can say. For me,
19:07
Speaker 5: That's what I did. So what they say, when you
19:10
Speaker 5: learn better, you do better.
19:13
Speaker 1: Yes, amen, lesser over to you, No don't don't let
19:18
Speaker 1: me get in a.
19:18
Speaker 2: Way of progress.
19:21
Speaker 4: Well, so, when as she went, Ruth is my bank partner?
19:26
Speaker 4: Here is Cadence Bank, right, And so Ruth was the
19:29
Speaker 4: one that actually referred her U lean over to me.
19:32
Speaker 1: And once she by the way, though, let's one just
19:36
Speaker 1: acknowledge that we we we we love Cadence and loved
19:39
Speaker 1: partnering with them, but we wouldn't be in uh and
19:42
Speaker 1: wells Fargo's a partner there and some others, but we
19:44
Speaker 1: wouldn't be in truest, we wouldn't be in Memphis if
19:49
Speaker 1: it wasn't her First Horizon Bank. UH and my lead,
19:52
Speaker 1: our lead director or board member, Brian Jordan and Brian,
19:56
Speaker 1: who I'm sure will listen to this podcast, is as
19:58
Speaker 1: happy with Lee getting her mortgage from Caden's as they
20:02
Speaker 1: as he would be from getting the mortgage from First Rise.
20:06
Speaker 1: And he knows that the more homeowners there are in Memphis,
20:10
Speaker 1: the more taxpayers there are in Memphis, the more productive
20:14
Speaker 1: citizens there are in Memphis, the more pride there is
20:17
Speaker 1: in Memphis, the more valuable Memphis is, the more valuable
20:20
Speaker 1: his bank is that's based in Memphis.
20:23
Speaker 2: So all boats.
20:26
Speaker 1: Rise in a situation where everybody does well and we
20:29
Speaker 1: want to we're telling the Cadence story at the moment,
20:31
Speaker 1: but we could be talking about, thank God, any number
20:34
Speaker 1: of our partners as we bring prime once we finish
20:38
Speaker 1: with our work. We're bringing them prime rate candidates for
20:44
Speaker 1: a mortgage loan or whatever the loan type is, capital
20:48
Speaker 1: access because we've been working with them, people like you've
20:51
Speaker 1: been working with them to get them rehabilitated, refined, reset,
20:56
Speaker 1: so they could literally, as I keep saying, they're not
20:59
Speaker 1: black or white, the red or blue, they're green.
21:03
Speaker 2: She's wearing green today by the way.
21:07
Speaker 4: Anyway, Yeah, so Caden's Bank, and then I'll say this
21:11
Speaker 4: Semis chairman here in Memphis. Uh we we again, Yes,
21:15
Speaker 4: we said, We've got so many bank partners. And I
21:18
Speaker 4: can say one thing about the coaches the teams here
21:20
Speaker 4: in Memphis is that we interact and we support each other.
21:23
Speaker 4: We literally just had a Christmas party, uh on Tuesday
21:29
Speaker 4: that all the coaches ones from First Horizons, from Caden's Bank,
21:34
Speaker 4: Bank of America, all of these coaches from these bank
21:37
Speaker 4: partners and Truest as well or here we decided to
21:40
Speaker 4: go to dinner uh together and just spend time with
21:43
Speaker 4: each other and we refer back and forth.
21:46
Speaker 3: We help each other out out as coaches.
21:48
Speaker 4: But with with Ruth Feeden, with Ruth Phillips at Cayden,
21:53
Speaker 4: she really, uh, you know that that whole team sends
21:57
Speaker 4: me a ton of clients and and I got Lee
22:00
Speaker 4: and I it's one of my my most proudest moments
22:04
Speaker 4: because it was a process and she she committed to
22:08
Speaker 4: sticking to it and she did so. She the first
22:12
Speaker 4: thing we did when we did that budget, and then
22:15
Speaker 4: I started talking to her. I said, hey, we're looking
22:18
Speaker 4: at this budget. We say we're only spending one hundred
22:21
Speaker 4: dollars on eating out right, That's.
22:23
Speaker 3: What we got on the budget.
22:24
Speaker 4: But when I look at that, when I look at
22:26
Speaker 4: that bank statement, and I just like I do all
22:29
Speaker 4: the clients, hold them accountable. Say, listen, you know you're
22:31
Speaker 4: spending more than one hundred dollars. It'd be nice if
22:33
Speaker 4: it is just a hundred, right, we can get it
22:35
Speaker 4: down to there. But I just hold them accountable as
22:38
Speaker 4: they go through that process. And she went through it
22:41
Speaker 4: and say, okay, all right, I'm gonna have to stop
22:44
Speaker 4: eating out so much. I'm gonna have to you know,
22:47
Speaker 4: bring my lunch, start doing some meal preps. Right, I can't.
22:50
Speaker 4: I can't hit Starbucks. I can't hit Starbucks every day. Uh,
22:54
Speaker 4: and get it with we gotta get.
22:58
Speaker 3: Gotta carry.
22:59
Speaker 4: See, we got to carecy at the office.
23:03
Speaker 2: We use that.
23:04
Speaker 4: So so she she she took ownership of it and
23:09
Speaker 4: made the adjustments. And like she said, she had the money,
23:13
Speaker 4: you know, saved for the down payment, but the credit
23:16
Speaker 4: was the issue.
23:17
Speaker 3: And as we went through that process, well, first of.
23:20
Speaker 2: All, that left.
23:21
Speaker 1: I mean, it's pretty amazing that she had their money
23:24
Speaker 1: saved for the down payment. So I want to give
23:27
Speaker 1: her kudos for that, and that's unique in and of itself.
23:30
Speaker 1: Almost seventy percent of this country doesn't have four hundred
23:33
Speaker 1: dollars for an unplanned event. The fact that she was
23:35
Speaker 1: able to save thousands dollars for a down payment if something,
23:39
Speaker 1: should be absolutely commended. So her So Leanne did a
23:44
Speaker 1: good job on savings and disciplined herself. But her credit
23:48
Speaker 1: was it taught from the flow up less there was.
23:49
Speaker 3: It, Yeah, yeah, it was, it was. It was pretty low.
23:54
Speaker 3: She was in the mid five hundreds. So we got it. Yeah,
23:57
Speaker 3: so we got it up.
23:59
Speaker 4: I think when she actually closed, we actually closed, it
24:02
Speaker 4: was like right, at six eighty so you know, seven
24:05
Speaker 4: hundred so and she's there now, right, So she since
24:08
Speaker 4: she's been in the house, we've gone through and one
24:11
Speaker 4: of the things that I do with all of the
24:13
Speaker 4: all of my clients is once you get in the house,
24:15
Speaker 4: and she's been in the house for what a year
24:17
Speaker 4: and almost a year and a half MILLI in Yeah.
24:21
Speaker 4: One of the things that I do with all of
24:23
Speaker 4: my clients that get approved for the mortgage and close
24:26
Speaker 4: on it is I set up a two month appointment
24:30
Speaker 4: after they've closed, because I want to redo that budget.
24:34
Speaker 3: Again.
24:36
Speaker 4: Typically typically the the what they were paying for rent, uh,
24:41
Speaker 4: it was more than what their actual house note is
24:44
Speaker 4: right because rent is constantly going up. But right, yep,
24:49
Speaker 4: and one of and then the other thing is the
24:51
Speaker 4: utility bill usually adjusts. I want to get two months
24:54
Speaker 4: in there so that that you we can look at
24:56
Speaker 4: that to utility bill because typically utility bill going to
25:00
Speaker 4: be more in the house than in the apartment because
25:03
Speaker 4: you're heating, cooling more space. So we got you got
25:07
Speaker 4: that increase in there, but I want to make sure
25:09
Speaker 4: that budget gets done so that we can see the
25:12
Speaker 4: money that we've got left over.
25:13
Speaker 2: Now.
25:14
Speaker 4: Now we set up us a new savings goal after
25:16
Speaker 4: she's gotten into the house. So we did that meeting
25:19
Speaker 4: and then follow up and then then after we got done,
25:22
Speaker 4: and then everything just got started with her.
25:25
Speaker 3: The first thing.
25:26
Speaker 4: When you were here in town uh at Mayor Young's
25:30
Speaker 4: event uh at the Costic Library when uh and we
25:34
Speaker 4: got LeeAnne actually has pictures of you with signing autographing
25:38
Speaker 4: your book. And so that happened, and she gave her
25:41
Speaker 4: testimony at that and I think you were saying, uh,
25:44
Speaker 4: and Master Young really enjoyed her story there, yeap, that
25:48
Speaker 4: got that. That happened, and then we were you were said, okay,
25:53
Speaker 4: I want you to come on to be on the
25:56
Speaker 4: to be give you a testimony at the at the
25:59
Speaker 4: one of your war meetings. So uh, she came on
26:02
Speaker 4: and she did that, and then now this globe form.
26:05
Speaker 4: So her it's just been NonStop for her after she's
26:08
Speaker 4: gotten all of these gotten everything, but she, like said,
26:11
Speaker 4: she still will call me, text me time from time
26:14
Speaker 4: to time just just to check on me. And I
26:16
Speaker 4: told her she she's this is one of the things
26:18
Speaker 4: I love about what she's done. She has put her
26:21
Speaker 4: money where her mouth is. Before we came on the
26:23
Speaker 4: day she I asked her, you know, how her mother
26:26
Speaker 4: was doing, and then and then how her kids were doing.
26:29
Speaker 3: And she said, her daughter.
26:30
Speaker 4: She's already gotten her daughter in doing a budget and
26:33
Speaker 4: getting that and getting that set up, and she's got
26:36
Speaker 4: to check on it.
26:37
Speaker 3: Uh.
26:38
Speaker 4: One of the things that we we we talk about
26:41
Speaker 4: is she said, I really don't want to tech. I
26:42
Speaker 4: want to ask her now what's going on with a budget?
26:45
Speaker 4: Because it's Christmas time. But I let all my clients know.
26:49
Speaker 4: I give them this a magic secret. I said, I'm
26:51
Speaker 4: gonna mess you on a secret that no one else
26:53
Speaker 4: knows about. Christmas comes the same time every year, always,
27:01
Speaker 4: always December to twenty fifth, So twenty six you to
27:05
Speaker 4: start playing for planning for next year's Christmas budgeting and
27:09
Speaker 4: your budget, how much money you're gonna spend and getting
27:11
Speaker 4: those things together. So and I told her, I said,
27:15
Speaker 4: go ahead, if you want me to get involved to
27:17
Speaker 4: help your daughter, I'll be more happy to take her
27:19
Speaker 4: and get her through the program, just like it did
27:21
Speaker 4: with her and the mother. But I'm so proud and
27:24
Speaker 4: happy that she has done all of this and the
27:28
Speaker 4: credit goes, like you said, to her, because she put
27:31
Speaker 4: in the work. I just gave her the blue, but
27:34
Speaker 4: she actually built the house and put it and did
27:36
Speaker 4: the work herself.
27:40
Speaker 1: It sounds to me, as you're talking again before we
27:43
Speaker 1: came on, I heard you guys in conversation in the background.
27:48
Speaker 1: You have a relationship with each other. You're not just
27:50
Speaker 1: you know, you weren't just doing a transaction to get
27:53
Speaker 1: her prepared to be a homeowner. You've gotten to know her,
27:56
Speaker 1: she's gotten to know you. You know her, you know
27:58
Speaker 1: that her backstory, you know about about her father, about
28:01
Speaker 1: her daughter.
28:03
Speaker 2: I mean, correct me if I'm wrong. The coaches, the
28:06
Speaker 2: financial financial coaches.
28:07
Speaker 1: Build a rapport in a relationship with the client that
28:11
Speaker 1: is ongoing.
28:11
Speaker 2: Is that right?
28:12
Speaker 3: Absolutely? Absolutely?
28:14
Speaker 4: And I've got clients even right now that have been
28:18
Speaker 4: in their home and one of the things that we
28:22
Speaker 4: that we that I tell them, after they've closed on
28:24
Speaker 4: the home, you're going to start getting credit card offers
28:28
Speaker 4: from the repair stores, all the home improvement stores because
28:34
Speaker 4: they see that you bought a home, and you don't
28:36
Speaker 4: want to go out and start running those credit cards up.
28:39
Speaker 4: But I have clients that I'm literally working with now.
28:42
Speaker 4: She's closed on her house over three years ago, and
28:45
Speaker 4: we're just together now building redoing her budget so we
28:50
Speaker 4: can get her back on track and get some of
28:52
Speaker 4: those debts paid off.
28:54
Speaker 3: But yeah, that is a that is an ongoing thing.
28:57
Speaker 3: Uh We.
28:57
Speaker 4: A lot of times PEP will exit them from the
29:00
Speaker 4: after they've completed the purchase of the home. But oftentimes
29:05
Speaker 4: they'll come back and say listen, I need help, or
29:07
Speaker 4: even better than that, they will refer me other friends or.
29:10
Speaker 3: Clients to say, hey, he helped.
29:12
Speaker 4: Me to get a home, so let me go ahead
29:15
Speaker 4: and give you his number so he can help you.
29:16
Speaker 3: So, yeah, we do build that rapport with the clients.
29:21
Speaker 1: So you want to go back for a second. You
29:23
Speaker 1: mentioned that when she was renting, or when someone rents
29:28
Speaker 1: an apartment. Let's say that some expenses are going to
29:32
Speaker 1: be larger, like heating, because the house typically is larger
29:36
Speaker 1: than the apartment and so you're gonna have a larger
29:38
Speaker 1: area that you have to heat.
29:39
Speaker 2: That makes sense to me.
29:40
Speaker 1: Are there certain expenses that are going to be lower
29:44
Speaker 1: for a homeowner than it is for a renter?
29:47
Speaker 2: I'm I mean just.
29:49
Speaker 4: The actual rent payment. I'll give you this specific example
29:54
Speaker 4: that know stands out to me. Had a client rent
29:58
Speaker 4: payment was thirteen forty five for rent for a three
30:01
Speaker 4: bedroom apartment three one and forty five dollars bought that
30:07
Speaker 4: when she purchased that.
30:08
Speaker 3: New home, it was a little over eleven hundred dollars.
30:11
Speaker 4: So the actual rent, typically the mortgage payment typically is
30:16
Speaker 4: lower than what the rental payment is that the clients
30:18
Speaker 4: are paying. And keep find that they're constantly, every every
30:22
Speaker 4: single year, the landlords are going up on the rent
30:27
Speaker 4: at least one hundred dollars. And if they go from
30:30
Speaker 4: month to month, right, so let's say if they are
30:33
Speaker 4: in the process and we know that, hey, we've just
30:35
Speaker 4: about got them ready to close about the home, but
30:38
Speaker 4: that lease is up, and then they'll say, okay, we'll
30:41
Speaker 4: let you go month to month, but you're gonna have
30:43
Speaker 4: to pay an extra two hundred dollars just to go
30:46
Speaker 4: month to month, right, just just because you're gonna give
30:48
Speaker 4: me a thirty day notice on when you're gonna when
30:51
Speaker 4: you're gonna get out, So I need to get extra money.
30:53
Speaker 4: So those things definitely happen as far as your renters go.
30:57
Speaker 1: So as a as a landlord, myself, as an investor myself,
31:02
Speaker 1: I mean I was the largest minority owner of single
31:04
Speaker 1: family rental homes in America with the company I built
31:07
Speaker 1: called the Promise Homes Company. I sold it three years ago.
31:11
Speaker 1: I still am an investor and a passive investor with
31:14
Speaker 1: the new owners, which I'm actually trying to transition out of.
31:16
Speaker 1: But and part of the reason I want to transition
31:20
Speaker 1: out of it is I don't control it anymore. And
31:22
Speaker 1: I can't control the narrative. I can control the rents,
31:25
Speaker 1: I can't control the quality of the operations. And I
31:28
Speaker 1: don't want to be associated with something if I'm not
31:30
Speaker 1: controlling the outcome, because my reputation is tied to that.
31:36
Speaker 1: One of the ways landlords profit is the easiest way
31:40
Speaker 1: to do it. It's just jackub rents, and I chose
31:45
Speaker 1: not to do that. For years my rents were actually
31:48
Speaker 1: below market rate. But the average landlord will jack up
31:52
Speaker 1: rents every year. And when you usually, as you said properly, Lesters,
31:57
Speaker 1: if you made the point that when you're a homeowner,
32:01
Speaker 1: you're the landlord. There you go and you set your
32:05
Speaker 1: own I mean, this is this is gangster. Now, this
32:07
Speaker 1: is power. You've set the level of how much you're
32:12
Speaker 1: going to pay if you don't want to pay as
32:14
Speaker 1: much interest on that mortgage. Although you can write off
32:17
Speaker 1: that interest mortgage interest off for two Thursday of the
32:20
Speaker 1: thirty year mortgage and get that money back in the
32:22
Speaker 1: tax refund if you do a long form tax return.
32:26
Speaker 1: But if you want to pay that much interest, if
32:27
Speaker 1: you just allergic to interest, you can double down on payments.
32:31
Speaker 1: You can make the same payment amount but pay it
32:34
Speaker 1: twice a month versus so it's a three thousand dollars
32:36
Speaker 1: a month mortgage, or it's a fifteen dollars a month mortgage.
32:40
Speaker 1: You can pay fifty seven hundred and fifty dollars every
32:43
Speaker 1: two weeks weeks and knock off a bunch of the interests.
32:47
Speaker 1: This is a little sort of knowledge tack on on
32:51
Speaker 1: on wealth creation, and you'll pay You'll knock down the
32:56
Speaker 1: length of time you're paying off that mortgage considerably off years,
33:01
Speaker 1: literally just paying it every two weeks.
33:03
Speaker 2: Same amount versus paying it once a month.
33:05
Speaker 1: But you are how much you're paying every month is
33:08
Speaker 1: defined by you because you're the landlord. You're the owner.
33:12
Speaker 1: That's so powerful. And I did not know when I
33:14
Speaker 1: asked you that question. Yeah, I thought you gonna tell
33:16
Speaker 1: me something small, like some a light bill or something.
33:19
Speaker 1: You said, No, the biggest bill that you can imagine
33:22
Speaker 1: is the one that's smaller than renting typically, and that's
33:24
Speaker 1: the rent payment versus mortage payment itself. Is there another
33:28
Speaker 1: bill that might be an example of aperience bet more
33:33
Speaker 1: or less?
33:34
Speaker 4: Well, i'll give you with your with your example there,
33:38
Speaker 4: you're actually when you're making those payments every two weeks,
33:41
Speaker 4: you're actually making thirteen mortgage payments a year as opposed
33:45
Speaker 4: to twelve when you're paying them each month. And so
33:47
Speaker 4: you're right, it does cut down on that interest. But
33:50
Speaker 4: for me, what I found that that is the main bill,
33:55
Speaker 4: that rent is what that's the biggest one, and that's
34:00
Speaker 4: the biggest that's the one that I try to that
34:03
Speaker 4: I try to make sure that they that they get
34:05
Speaker 4: taken care of as far as making those monthly payments. Now,
34:09
Speaker 4: car notes typically when when when what I will have
34:13
Speaker 4: them to do is once we've gotten gotten their credit
34:15
Speaker 4: score up, I will go and I will tell them, Okay,
34:18
Speaker 4: now that that credit score is up. When you bought
34:21
Speaker 4: that car, you had a you know, seven hundred do
34:24
Speaker 4: car note. Now your credit score is higher, let's go
34:27
Speaker 4: refinance that car right and get that and pull that
34:30
Speaker 4: monthly payment down on that car so we can get
34:33
Speaker 4: a lower interest rate.
34:34
Speaker 3: So that's that's another one of the things that.
34:36
Speaker 2: I will do.
34:37
Speaker 1: And that'ster correct me if I'm wrong. So I think
34:39
Speaker 1: you're just saying is there's two ways to make money.
34:41
Speaker 1: You make more where you spend less, and by lowering
34:44
Speaker 1: the interest rate, you're lowering the payment yep on the
34:47
Speaker 1: car note, and she's keeping more money in her pocket.
34:51
Speaker 2: Absolutely, income is the same. She's made more money.
34:55
Speaker 1: But these two moves, by giving her credit up and
34:58
Speaker 1: getting her financial resiliency up, she's paying less on our
35:02
Speaker 1: biggest bill, which is where she lives, right, She's paying
35:05
Speaker 1: less than her second biggest bill probably, which is what
35:07
Speaker 1: she's driving.
35:09
Speaker 4: That's right, absolutely, And the main thing is it ties
35:14
Speaker 4: all back to credit. One of the pushbacks to that
35:17
Speaker 4: that I will have with clients. I will say, they'll say, well,
35:20
Speaker 4: you know, interest rates are too high.
35:23
Speaker 3: Now you know I want to wait to interest rate
35:25
Speaker 3: go down.
35:26
Speaker 4: Well, when you know when the rates were two and
35:29
Speaker 4: a half and three percent, what was going on then?
35:33
Speaker 3: Right?
35:33
Speaker 2: Right, that's free money. That was free money. Yeah, that
35:37
Speaker 2: was COVID.
35:37
Speaker 4: That's never coming back again. So I say, listen, COVID
35:41
Speaker 4: is never coming back like that again. So go ahead
35:45
Speaker 4: by the house now. And when you get in, a
35:48
Speaker 4: lot of my clients, you know, we're in the Bible
35:49
Speaker 4: bell here in Memphis, and so a lot of my
35:51
Speaker 4: clients are, oh, you know I need I'm gonna have
35:53
Speaker 4: to pray about pray about this. And I say, okay,
35:57
Speaker 4: you when you go look at that house and you
36:00
Speaker 4: find it, you better be prayed up. You know, because
36:02
Speaker 4: I have a real estate agent buddy in mind that says,
36:05
Speaker 4: if you sleep own this house, you will not sleep
36:08
Speaker 4: in this house because a minute you walk out of there,
36:11
Speaker 4: somebody else come in there. Put a contract on it.
36:14
Speaker 4: And don't worry about inst rate. Once you get your
36:17
Speaker 4: credit score up, go ahead and refinance it.
36:19
Speaker 3: You know, talk about interest rate.
36:21
Speaker 4: If you're renting, you're paying one hundred percent interest rate,
36:24
Speaker 4: right because you're renting, So go ahead get wherever the
36:28
Speaker 4: rates are.
36:29
Speaker 2: Lessen you're dropping some jewels.
36:31
Speaker 1: Man. Let's just say, if you're renting, you're paying one
36:35
Speaker 1: hundred percent interest rate.
36:37
Speaker 3: Yeah in text, Yeah, that's it.
36:40
Speaker 2: And it's so true.
36:42
Speaker 1: If you don't sleep, if you don't, if you don't
36:44
Speaker 1: if you sleep on that house, you won't be sleeping
36:46
Speaker 1: in that house. Is another one that God helps those
36:48
Speaker 1: who help themselves, and so you can pray, but you
36:52
Speaker 1: got to move on. Sot A Bible by the way,
36:54
Speaker 1: in Proverbs all around Bible UH focused people listening to
36:59
Speaker 1: this podcast, The Bible says that in Proverbs and be poors,
37:05
Speaker 1: not to not to, not to not have anything, to
37:08
Speaker 1: be poors, not to not do anything, and lazy hands
37:12
Speaker 1: make a man poor. So God helps those who help themselves.
37:16
Speaker 1: You can't just sit and pray about it and think
37:18
Speaker 1: about it and worry about it. You gotta do something
37:19
Speaker 1: about it. PhDs are good, PhDs are better, and you
37:23
Speaker 1: both are examples of taking a PhD knowledge and turning
37:27
Speaker 1: into a PHDU action plan and changing her life. Money's
37:32
Speaker 1: not evil, it's the love of money is evil. And
37:36
Speaker 1: we're getting we're getting played by a system we don't understand.
37:39
Speaker 1: And what you've done is empowered lean with knowledge and
37:43
Speaker 1: soon her daughter so she can take back her life.
37:45
Speaker 1: And you can just look at her in her eyes
37:46
Speaker 1: and see how much confidence she has now, how poised
37:49
Speaker 1: she is. By the way, I don't know if you
37:51
Speaker 1: know this lesson, you've helped her. She's helped herself, but
37:54
Speaker 1: you've now helped her extend her life because you get
37:58
Speaker 1: a credit score in the mid fifty five hundred. If
38:01
Speaker 1: you're in the mid five hundreds, you lived to about
38:03
Speaker 1: sixty one years of age. If you have a seven
38:07
Speaker 1: hundred plus credit score, you live to eighty one years
38:10
Speaker 1: of age. So for every fifty for every fifty points
38:16
Speaker 1: increase in credit score, you're extending your life span about
38:20
Speaker 1: five years. Because your well being is changing, your mindset changing,
38:24
Speaker 1: your hope is changing your belief, your wellness and your
38:27
Speaker 1: choices are changing. You're more optimistic. Our people in our
38:31
Speaker 1: community are dying before they get to social Security. They're
38:35
Speaker 1: dying sixty one years of age. They're dropping dead because
38:37
Speaker 1: of hypertension and stress and bad habits. So literally, by
38:42
Speaker 1: raising your credit score to seven hundred, you've extended your life,
38:45
Speaker 1: created another quartile of living.
38:48
Speaker 3: Yeah, credit score him.
38:52
Speaker 4: If I use our credit score index we have on
38:54
Speaker 4: our website, Chairman Brian in the average score in the
39:00
Speaker 4: the old foothomes they call it, and you, I can't
39:03
Speaker 4: remember the name of it now, but it's five ninety one, right.
39:06
Speaker 3: That's that's the average store in that neighborhood.
39:09
Speaker 4: You can go ten fifteen miles further down in the
39:13
Speaker 4: German town it's a seven sixty three, and then the
39:16
Speaker 4: US average is seven oh six, and so Leanne is
39:19
Speaker 4: now above the US average for credit card and I'm
39:22
Speaker 4: just so happy for us. It's like killing it down.
39:25
Speaker 4: So it's the way your bunket average here and here
39:27
Speaker 4: in Memphis.
39:30
Speaker 1: Well, look, we're getting towards the end of this episode
39:34
Speaker 1: of it. Are there are any things that Leanne or you,
39:39
Speaker 1: Lester want to share with the audience, That are sources
39:42
Speaker 1: of inspiration, aspiration, of recommendation, that habit breaking, habit forming
39:50
Speaker 1: that you want to share for an audience looking for
39:54
Speaker 1: hope with a business plan attached to it.
39:58
Speaker 4: Len, I'll let you go first, and then I do
39:59
Speaker 4: have something that I'd like to share too.
40:02
Speaker 6: Yes, I just want to share.
40:03
Speaker 5: There's some people that may want a home, they may
40:06
Speaker 5: want a.
40:07
Speaker 6: Business, but like I did, they feel stuck.
40:11
Speaker 5: I often hear mister Hope, mister Brian say, if you
40:16
Speaker 5: keep hanging around ten people, you will be the eleven.
40:19
Speaker 1: One the tent, but close enough, you'll be your.
40:26
Speaker 6: Extra person if you will. I will say, that's a.
40:29
Speaker 5: Mindset to being in the midst of a company, of
40:33
Speaker 5: the organization on Operation Hope as mister Brian said, me
40:37
Speaker 5: and mister Watt, we have a relationship. When you learn
40:41
Speaker 5: financial literacy, you're going to be king to kind of
40:46
Speaker 5: be more around those type of mindset. Success starts in
40:50
Speaker 5: the first It's not you know a lot of people
40:53
Speaker 5: may think you have to have this money first. Well,
40:55
Speaker 5: in order to get the money, you have to have
40:56
Speaker 5: the right knowledge, you know, the right uh.
40:59
Speaker 6: Circle of people.
41:01
Speaker 5: And so for me, that change and my mindset change
41:04
Speaker 5: when I started getting educated and the financial with Operation
41:09
Speaker 5: Hope UH, and getting those knowledge and those with in
41:12
Speaker 5: the and the and then the uh you know, the
41:14
Speaker 5: way to go about paying my bills and those simple
41:17
Speaker 5: things that made me my mindset change.
41:20
Speaker 6: And now I have a successful mindset.
41:22
Speaker 5: I don't consider myself uh and poverty uh thinking and
41:26
Speaker 5: poverty mentality, a woe is me mentality?
41:29
Speaker 6: You know, it starts.
41:30
Speaker 5: It starts in the mind first. Don't wait on your
41:33
Speaker 5: money to be in the bank. Get financial, get the
41:37
Speaker 5: financial literacy you need.
41:38
Speaker 6: Contact Operation Hope.
41:41
Speaker 2: UH.
41:41
Speaker 6: You may feel stuck.
41:42
Speaker 5: That you want a home, you want a business, Well,
41:44
Speaker 5: contact these people, allow them to work with you, allow
41:48
Speaker 5: them to help you, and so you can help yourself
41:51
Speaker 5: and your family because I'm a I'm a I'm a
41:55
Speaker 5: firm believer. People learn by what they see the example.
42:00
Speaker 5: And I'm grateful that now that I can be an
42:02
Speaker 5: example from my family and my generations generations to come.
42:06
Speaker 5: So that creates generational wealth. When you change your mindsets.
42:10
Speaker 5: Mindset creates generational wealth. It's not always a big money
42:14
Speaker 5: in the bank. You know, when you know better and
42:17
Speaker 5: you make the better decisions, the wealth comes, you know.
42:21
Speaker 1: Uh.
42:21
Speaker 5: And the word says and all getting getting knowledge and understanding.
42:25
Speaker 5: So that's my prayer for you though, that's looking to
42:28
Speaker 5: get a home, looking to make those changes in your life.
42:31
Speaker 5: Contact Operation Hope and let these people. And we're family
42:35
Speaker 5: oriented over here, you know.
42:37
Speaker 6: Uh.
42:38
Speaker 5: All the whole time I've worked and I've seen mister
42:41
Speaker 5: Bryan and mister Watts, they just feel like family.
42:45
Speaker 6: I'm like, Okay, these are my peeps here. So it's grateful.
42:49
Speaker 5: I'm grateful for the opportunity, and I just encourage you
42:52
Speaker 5: to contact them.
42:54
Speaker 3: Well.
42:55
Speaker 4: I always when I do my closings of my workshops,
43:01
Speaker 4: I'll close out with a couple of things.
43:03
Speaker 3: I'll say. You know, I was raised primarily.
43:06
Speaker 4: By my grandparents, and my grandparents had a lot of
43:08
Speaker 4: old sayings. So one of the old sayings they say,
43:11
Speaker 4: when you know better, you would do better, right, right?
43:15
Speaker 4: And I say you believe that? And everybody yes, Yes,
43:18
Speaker 4: I believe it too. And then I finally close it
43:21
Speaker 4: out by saying one another old saying they had was
43:24
Speaker 4: knowledge is power power, right, And I say do you
43:29
Speaker 4: believe that? And they say yeah, and I say I don't.
43:34
Speaker 4: Knowledge is not power until it is used.
43:38
Speaker 3: You are. So if you.
43:40
Speaker 4: Are watching this podcast and you know that you need
43:42
Speaker 4: some help, go to Operationhope dot org.
43:45
Speaker 3: Take a look, find a coach in your area.
43:48
Speaker 4: You may not have one directly in your area, but
43:51
Speaker 4: the majority of our meetings are done virtually right, So
43:55
Speaker 4: if you need help with home ownership, you need help
43:58
Speaker 4: with credit or small business disaster gold Operation Hope dot
44:02
Speaker 4: org look us up and find a coach. Knew you,
44:05
Speaker 4: and don't worry if we're not in your area. Again,
44:07
Speaker 4: we can do do things virtually as well. So thank
44:10
Speaker 4: you for sharing me so much, for having allowing me
44:12
Speaker 4: and LeAnn beyond the day.
44:14
Speaker 3: I really appreciate it.
44:15
Speaker 2: Man, you may be taking my job as a podcast host.
44:19
Speaker 2: You're good. Many black and I hard like look we
44:23
Speaker 2: need to move. You move. That's pretty good.
44:28
Speaker 1: Your coaches are better than you are, John, and that's
44:31
Speaker 1: I want my coaches actually to be better.
44:33
Speaker 2: I have a I have a whole financial coach. Yeah,
44:37
Speaker 2: I have a Hope financial coach.
44:38
Speaker 1: I talked to to them once a quarter once uh
44:42
Speaker 1: once every few months, and they always find something messed
44:45
Speaker 1: up on my credit aboard error that something needs to
44:48
Speaker 1: be fixed because I'm moving fast. I don't trying to
44:51
Speaker 1: be around with with this, with this stuff that they
44:53
Speaker 1: do it for me. And so everybody needs help, everybody.
44:58
Speaker 1: And you heard the audience has now heard. We didn't
45:01
Speaker 1: we didn't pre plan this. We didn't we didn't rehearse this.
45:04
Speaker 1: You heard this was off the cuff. We we had
45:07
Speaker 1: some church in here, a church, and Lester took us
45:13
Speaker 1: to school. Uh. But Lester is representative. We have hundreds
45:18
Speaker 1: of employees at Operation Hope, most of them financial coaches.
45:21
Speaker 1: Lester is just representative of the quality of those coaches.
45:24
Speaker 1: He really is good. He knows what he's talking about,
45:28
Speaker 1: and uh, you can trust them. Uh they have your
45:31
Speaker 1: best interests at heart. Thank you very much, Leanne and Lester.
45:35
Speaker 1: This has uh been quite inspirational because We've got to
45:39
Speaker 1: be able to take this thing and put it as
45:41
Speaker 1: my friend. Uh, Tim Burke would say, the South a southern,
45:45
Speaker 1: true Southern boy. He say, you got to put you
45:47
Speaker 1: got to put this knowledge where the goats can get it. Uh.
45:50
Speaker 2: You got to make sure that this is that is
45:52
Speaker 2: high frequency, but it's within reach.
45:56
Speaker 1: And I think that what you have done has made
45:58
Speaker 1: this within reach of everybody, no matter what they're station
46:03
Speaker 1: in life, while retaining their dignity. There's no shame in
46:07
Speaker 1: making mistakes. You can make a mistake and not be
46:10
Speaker 1: one getting up where you are and moving forward in
46:16
Speaker 1: your life and Leanne. You have done exactly that. Stay
46:20
Speaker 1: on your course, keep going. I can tell you're going
46:25
Speaker 1: to be successful. It's going to be challenges, it's going
46:27
Speaker 1: to be bumps in the road. That's okay. You will
46:32
Speaker 1: you will succeed. I can tell you'll get through all
46:34
Speaker 1: of them. And you call Lester whenever you get into
46:38
Speaker 1: a spot, and he will and the team will wrap
46:40
Speaker 1: resources around you to help you maneuver around it.
46:45
Speaker 2: Thank you all very much.
46:47
Speaker 1: This has been the Money and Wealth podcast series for
46:52
Speaker 1: twenty twenty five going into twenty twenty six.
46:55
Speaker 2: This is the Timeless episodes.
46:56
Speaker 1: We may play it over and over again on Black
47:00
Speaker 1: Infect Network on iHeartRadio, Go change your life today, Thank
47:06
Speaker 1: you very much, thank you. Money and Wealth with John
47:10
Speaker 1: O'Brien is a production of the Black Effect Podcast Network.
47:13
Speaker 1: For more podcasts from the Black Effect Podcast Network, visit
47:17
Speaker 1: the iHeartRadio app, Apple Podcasts, or wherever you listen to
47:21
Speaker 1: your favorite shows.