Latest / Motion and Success / "HOW DID I BUY 8 HOUSES FOR $8 From The Government 😳" Ft. Jordan P. Ferrarani

Transcript

"HOW DID I BUY 8 HOUSES FOR $8 From The Government 😳" Ft. Jordan P. Ferrarani · Motion and Success

0:00
[SPEAKER_04]: I was able to get eight houses for $8 to build eight affordable homes and $100,000 in grant money to be able to make it happen.
0:07
[SPEAKER_04]: Those eight houses that I got for $8 was worth $100,000 a piece.
0:11
[SPEAKER_04]: Early on, I was doing much additional real estate bills.
0:14
[SPEAKER_04]: But then I stumbled across affordable houses.
0:17
[SPEAKER_04]: 2018, a state representative came to me.
0:20
[SPEAKER_04]: They wanted to work with my organization and they wanted to provide us with a grant.
0:24
[SPEAKER_04]: of $100,000 to fix up $8,000 that we were able to get from the city for just $8 and turn them into a affordable housing and teach people construction and trade in the process.
0:35
[SPEAKER_04]: So at that time, that's when all my mission and my work and my skills came together.
0:38
[SPEAKER_04]: I was able to get $8,000
0:40
[SPEAKER_04]: eight dollars in a city brewery town section now if you're not from Philadelphia brewery town this is North Philly this is the hood but it's going through gentrification like everywhere else I was able to get eight houses in this area to build eight affordable homes for eight dollars and a hundred thousand dollars in grant money to be able to make it happen the part about the dough that was a big mindset for me
1:01
[SPEAKER_04]: It's those eight houses that I got for $8, we're worth $100,000 a piece, $800,000 worth for houses for $8,000 plus $100,000 in grant money.
1:12
[SPEAKER_04]: that I didn't have to pay back to build quality affordable housing, real estate, in my community.
1:17
[SPEAKER_04]: For people that was in need, you were able to serve people help a lot of people, love with a playing field, and create generational wealth for you and your family.
1:24
[SPEAKER_01]: What's going on, family, it's Iowa and Cody, and today's episode is sponsored by mail box millionaire, Academy, the number one credit and business buying mentorship in the country.
1:35
[SPEAKER_01]: mailbox millionaire Academy teaches high-level entrepreneurs and first-time business owners how to buy small profitable businesses that already work.
1:46
[SPEAKER_01]: Businesses with systems, cash flow, and real customers already in place.
1:52
[SPEAKER_01]: And the best part about it is if you don't have the money you can use creative, finance, strategies you'll get inside the Academy.
2:00
[SPEAKER_01]: Let's be real ya, most people want to get into commercial real estate, but they don't want to deal with tenants, trash and toilets.
2:10
[SPEAKER_01]: That's exactly why you need to understand self-storage facilities, the number one performing real estate based business model in the country.
2:20
[SPEAKER_01]: With self-storage, you get appreciation, the value goes up.
2:25
[SPEAKER_01]: you get equity ownership and monthly cash flow, but the best part about it without tenants living in your property.
2:35
[SPEAKER_02]: And here's the wild part, 90% of businesses fell within the first 10 years.
2:40
[SPEAKER_02]: Sell Storage has a 92% success rate most people also think that hey listen in order for me to get started I need a lot of money and I'm here to tell you guys.
2:51
[SPEAKER_02]: That is absolutely false because my god Romellan rules the lead instructor at mailbox millionaire academy Literally teaches people how to buy their first sell storage business with little to no money out of pocket and right now right now
3:07
[SPEAKER_02]: He's giving away a free intensive training.
3:10
[SPEAKER_02]: All you have to do is text the word motion so that's MOTION to the number 3474296496 to get instant access.
3:24
[SPEAKER_02]: Again, text the word motion so that's MOTION to the number
3:30
[SPEAKER_02]: 347-429-6496 and tell them, listen, you can't find the motion in success family, so that way you can bless you guys.
3:40
[SPEAKER_02]: Let's get back to this episode because this one is going to be a banker.
3:43
[SPEAKER_02]: Alright y'all, so welcome back to another episode of motion in success.
3:46
[SPEAKER_02]: Listen guys, my name is Cody Brown and I got my co-host for me today.
3:49
[SPEAKER_01]: is IO and Yo Bro, we back with another great episode.
3:53
[SPEAKER_01]: I'm excited for this one, because it's been a minute since we had somebody from the real estate game on a pod, man.
3:59
[SPEAKER_01]: And this one's going to be a real special one, bro.
4:01
[SPEAKER_02]: It is.
4:02
[SPEAKER_02]: It definitely is.
4:03
[SPEAKER_02]: For the people that right here that you guys are watching this podcast, if you are looking to invest in the real estate, you guys are looking to start learning to step by step direction.
4:12
[SPEAKER_02]: And be able to get some kind of guidance, some kind of structure, also the kind of mindset, the kind of money that you need to go out there and make this thing happen.
4:19
[SPEAKER_02]: This is the podcast that you need to tune into, literally from the start all the way to the end, because the gentleman we're getting ready to introduce to you guys today, and interview, he's been crushing it for the past decade in the real estate industry.
4:31
[SPEAKER_02]: He's invested in multiple different states, his own story, how he got into the industry, has been amazing, you know, to hear.
4:39
[SPEAKER_02]: You know, he has a lot of different relationships and a lot of different states and a lot of different communities and a lot of different boards.
4:46
[SPEAKER_02]: So this is the podcast that you need to tune into because the information is going to be absolutely crazy.
4:54
[SPEAKER_02]: So listen, without further ado, we're going to introduce our guest with today.
4:58
[SPEAKER_02]: His name is Jordan Farini for Philadelphia.
5:03
[SPEAKER_02]: Jordan, thank you for coming through, bro.
5:05
[SPEAKER_02]: Appreciate you for joining us on the podcast, man.
5:08
[SPEAKER_02]: Tell the people a little bit about yourself and we'll kick things off from that.
5:11
[SPEAKER_04]: Absolutely.
5:11
[SPEAKER_04]: So first and foremost, I appreciate y'all having me.
5:14
[SPEAKER_04]: Yeah, you know, coming to be able to tap in with your people, tap in with your platform.
5:18
[SPEAKER_04]: My name is Jordan P. Farini, everybody calls me J.P.
5:22
[SPEAKER_04]: I was born and raised in the city of Philadelphia from the uptown section.
5:26
[SPEAKER_04]: Mm-hmm.
5:27
[SPEAKER_04]: I've been blessed in the real estate industry, blessed in the construction industry.
5:31
[SPEAKER_04]: God has been good to me.
5:32
[SPEAKER_04]: I got over 21 years of experience.
5:35
[SPEAKER_04]: I got a bunch of accolades and licenses and receipts to show you know to speak from and you know I've been blessed to be able to accomplish a lot and I've done over fifty million dollars in real estate development in the recent years.
5:51
[SPEAKER_04]: I've ran multiple successful companies from handyman companies to kitchen and bath companies to electrical contracting companies and I've had a lot of success along the way, man.
6:00
[SPEAKER_04]: I've been blessed to be able to make it into magazines, make it on TV screens, make it on stages, be able to get into the upper ranks of the real estate industry.
6:10
[SPEAKER_04]: I'm a high-ranking board member of the National Association of Home Builders.
6:14
[SPEAKER_04]: We build 80% of all new construction residential real estate development throughout the country.
6:20
[SPEAKER_04]: 200 billion dollar organization.
6:22
[SPEAKER_04]: You know, I've been able to, you know, have a lot of success in the construction space.
6:27
[SPEAKER_04]: and in the design space, I've won all types of awards from the National Kitchen and Bath Association, 30 and a 30 person of the year, projects of the year.
6:37
[SPEAKER_04]: You know, so, not trying to flex up both, I've been able to do a lot in the complex a lot in the space.
6:43
[SPEAKER_04]: And these days, a lot of my focus in my direction, though, is
6:47
[SPEAKER_04]: How do I take all of these blessings and all this information and all this education that I have and turn around and share with my community so that I can get as many people that come from similar walks and similar struggles and similar situations into the rooms that I'm in.
7:03
[SPEAKER_04]: Because I'm blessed.
7:04
[SPEAKER_04]: I'm in all these rooms and all these tables, all around the country.
7:07
[SPEAKER_04]: I've been all around the world for real estate and construction.
7:10
[SPEAKER_04]: But when I get into these rooms, y'all, I may keep it real.
7:12
[SPEAKER_04]: There's not a lot of us in there.
7:15
[SPEAKER_04]: Look around the room and a lot of times I'm alone.
7:18
[SPEAKER_04]: You know what somebody coming from, a struggle, a coming from adversity.
7:22
[SPEAKER_04]: You know, I'm alone at somebody that's even in my age bracket or somebody that's from, you know, the cities that we come from.
7:28
[SPEAKER_04]: So,
7:29
[SPEAKER_04]: it's not a lot of fun in that and now my mission is it's like how do we get more of us into the room so that we can be at the tables together.
7:36
[SPEAKER_04]: So that's what brought me here today to be able to share these resources, share this information and make sure that we can change the lives of y'all listeners and get y'all in a vibe.
7:46
[SPEAKER_04]: and a lot of the amazing things that's going on in the real estate space today, specifically though, affordable housing, because I know I'm a champion in the real estate, but I'm a champion of affordable housing, making sure we got quality development in our communities, and making sure that we are a part of that development, leading that development is why we're here today.
8:06
[SPEAKER_02]: That's good stuff man.
8:07
[SPEAKER_02]: Good stuff bro.
8:08
[SPEAKER_01]: That's one hell of a resume, Ralph.
8:10
[SPEAKER_01]: Yeah, God is good man.
8:12
[SPEAKER_01]: God, I'm definitely excited to jump into it.
8:15
[SPEAKER_01]: I do want to jump in a little bit, you know, until your backstory, because I know before the accolades, before all their achievements, before, you know, the millions in real estate, like, who was Jordan before that?
8:26
[SPEAKER_01]: Like, like, what were you went, what were you went to, what are some things that you know that brought you here?
8:31
[SPEAKER_04]: Yeah, Jordan before that was um, you know, I was, I was always a smart kid, you know, I was always even a little bit different, like, you know, a little bit on like the nurse, I was always like to read, always like to learn, always like to grow, you know, in those spaces, but at the same time I was always in the mix.
8:50
[SPEAKER_04]: Yeah, my brother was in the mix and my mother was always hustling, you know, my mother was always grinding, she was always out working.
8:58
[SPEAKER_04]: Um, she didn't have much of an education, but she had a hard work ethic.
9:02
[SPEAKER_04]: She was always pulling her fruit stand up to the avenue or selling something door to door or, you know, setting up some little promotion where she was selling things in the back of the supermarket.
9:13
[SPEAKER_04]: And so I always would see that hustle and spirit.
9:15
[SPEAKER_04]: I always would see that, you know, that moving and shaking, you know, type of, um, example from my mom.
9:21
[SPEAKER_04]: But she also wasn't there a lot.
9:22
[SPEAKER_04]: Yeah, she had to move around.
9:24
[SPEAKER_04]: She had to work.
9:24
[SPEAKER_04]: And so, you know, I was a smart kid, you know, I was a little bit different.
9:29
[SPEAKER_04]: But then I started to watch my brothers and them in the mix.
9:32
[SPEAKER_04]: And then next thing I know I got into the mix too.
9:35
[SPEAKER_04]: And, you know, I was moving around doing the wrong things, making mistakes.
9:41
[SPEAKER_04]: You know, I didn't have a father figure in my life.
9:43
[SPEAKER_04]: So it wasn't like someone I had to like pull me back in.
9:46
[SPEAKER_03]: Yeah.
9:46
[SPEAKER_04]: And I went down some of the wrong paths.
9:48
[SPEAKER_04]: But I learned about some of the,
9:49
[SPEAKER_04]: You know, places that I didn't want to go juvenile justice facilities, you know, and then out of those type of places as a young person as a young adult in and out of the system again until about the age of 23, I had my son.
10:05
[SPEAKER_04]: And this was why I was inside, I had my son, my first son.
10:09
[SPEAKER_04]: I didn't get to see him be born, and it did something to me, you know, not being able to see you see coming to this world, it did something to me, and I made a commitment to myself at that moment at the age of 23, 24 that I was never going to go back to those places again, and that I was going
10:28
[SPEAKER_04]: turned my life around.
10:30
[SPEAKER_04]: So my mother and my brother at the time was hustling, you know, they started the handyman company.
10:35
[SPEAKER_04]: I had a trunk of a car where the bucket full of tools from the pawn shop.
10:38
[SPEAKER_04]: Chrysler 200C bucket full of tools from the pawn shop and started doing handyman services, fixing and doing small repairs in the community.
10:47
[SPEAKER_04]: And at the time I came home, but I came home focused.
10:50
[SPEAKER_04]: I went back to school for electric.
10:53
[SPEAKER_04]: Eventually I became a licensed master of electrician.
10:56
[SPEAKER_04]: I went back to school for construction management, became a certified construction manager from Temple University, and I started contributing to the family business, and started getting focused on the family business that we had, which was a handyman company at the time.
11:09
[SPEAKER_04]: And man, it grew.
11:11
[SPEAKER_04]: We drive the one from a handy man company from the back of a trunk of a car, and grew into a luxury kitchen and bath bran called Ferini, kitchen and baths and interiors, and likes started to change.
11:22
[SPEAKER_04]: And I kept going back to school, became a licensed master like Tristan, started electrical contracting company.
11:28
[SPEAKER_04]: became a certified construction manager, one back to school for carpentry, one back to school became an authorized ocean trainer, and one back to school became a licensed real estate sales person, and I started to see like, you know, those certificates that education helped me elevate the whole family Elevere.
11:43
[SPEAKER_04]: And,
11:44
[SPEAKER_04]: A lot of success came.
11:46
[SPEAKER_04]: We was getting on TV shows.
11:48
[SPEAKER_04]: My family did a project with Chef Gordon Ramsay and I was winning 30 under 30 award and my brother was winning this award and we was getting the magazines again flowing all around the country
11:59
[SPEAKER_04]: And again, I get into those rooms, man.
12:01
[SPEAKER_04]: All these successful people, all these wealthy people and none of us is there.
12:05
[SPEAKER_04]: And that's when I bought it back for a circle.
12:08
[SPEAKER_04]: I was going to go back to my community and teach people from the situations that I've overcome and from the success I've been able to attain for how they can do it to.
12:17
[SPEAKER_02]: Sorry to break the interview, but really not sorry to break the interview because listen.
12:21
[SPEAKER_02]: Over the past few months, we've been testing out this one system that has been a complete game changer for us and our business.
12:30
[SPEAKER_02]: So now is the best time for us to bring it to you guys.
12:33
[SPEAKER_02]: And the name of the system is called Go High Level.
12:36
[SPEAKER_02]: Go High Level is an all in one marketing tool that you're going to be able to use to grow your business.
12:41
[SPEAKER_02]: Listen, we're not only just piecasters, but we're also business owners as well.
12:46
[SPEAKER_02]: So if you're a business owner, you're looking to grow your business online just like how we're doing the same thing, you need to have a way in how you're going to be able to text your people.
12:54
[SPEAKER_02]: You need a way of how you're going to be able to email your people.
12:57
[SPEAKER_02]: You need a way how to go out there and build your funnels, your websites and everything that you have to use to grow your online business, go high level is literally that one tool that you would have to use.
13:08
[SPEAKER_02]: So all of the other subscriptions that you have, you can go ahead and cancel them
13:14
[SPEAKER_02]: Everything that you need as an online business owner all in one tool.
13:19
[SPEAKER_01]: You literally don't need any Others CRM system any other automation go high level is the one tool that you need enough said, man Click the link down below to start your free trial.
13:31
[SPEAKER_01]: Listen, it's on us
13:32
[SPEAKER_02]: We begged our goal, how level people for this work, by the way.
13:35
[SPEAKER_01]: Yep, so click the link down below, start your free trial, and start organizing your business.
13:41
[SPEAKER_01]: So that way you can get more customers, increase revenue, and more deposits to your business account back to the episode.
13:50
[SPEAKER_01]: Right.
13:51
[SPEAKER_01]: That's amazing.
13:52
[SPEAKER_01]: That's amazing, girl.
13:53
[SPEAKER_01]: kind of like even from, you know, the start of it means like, you know, you like the reads, so you kind of already had those attributes in you, you know what I mean?
14:01
[SPEAKER_01]: But the environment, you know, I'm pretty sure like growing up, growing up out there and feeling definitely, it ain't easy, you know what I mean?
14:07
[SPEAKER_01]: So the fact you know, you had that ability to kind of,
14:10
[SPEAKER_01]: uh, reflect on on your past mistakes and come out and have that hungering you to go out and learn more because at the end of the day you needed to to get that knowledge, you know, you needed to learn.
14:22
[SPEAKER_01]: So, so now I really commend you for that, bro.
14:25
[SPEAKER_01]: And um, definitely like,
14:28
[SPEAKER_01]: As soon as you got out and you got all these skills, you got all these, you know, all this wisdom and this knowledge that you got from getting these these skills in the education, when did you pivot into getting your first property?
14:41
[SPEAKER_01]: Like, how was that?
14:43
[SPEAKER_01]: Like, how did you go about that?
14:44
[SPEAKER_01]: Did you have a mentor or like, how did you get into it?
14:47
[SPEAKER_04]: Not really a mentor, man.
14:48
[SPEAKER_04]: My mentor was a survival.
14:50
[SPEAKER_04]: It was like, a lot of this stuff all started from survival.
14:53
[SPEAKER_04]: It was like,
14:55
[SPEAKER_04]: If you don't make this money, you're going to be a back out on the street, you know, from the beginning with the handyman company, my little brother was helping my mother to not lose her house.
15:04
[SPEAKER_04]: You know, when I came home to help my mother not lose her house, too, and you know, then the next layers would become like providing for our families, keeping them over our head and the beginning, like a lot of it was survival.
15:16
[SPEAKER_04]: But with the education,
15:18
[SPEAKER_04]: survival became easier and I mean we started to learn the business side of the things and started to applaud it and it became easier and easier and like at the time I was doing electrical contracting companies I was growing in that space I became a licensed master electrician and this was like 2012 2013 I'm doing projects for other people
15:41
[SPEAKER_04]: You know, I own my business, but I'm doing projects in the buildings that they own and I'm looking like while I work on the buildings, if I could work on my own buildings and buildings that I own myself use my skills to be able to do, you know, some of my own projects and build generation of wealth from my family and add that to the table too.
16:00
[SPEAKER_04]: And so, you know, around that time, 2012, 2013.
16:04
[SPEAKER_04]: My little brother, you know, he was doing real estate, and I was watching what they were doing, and I was learning, you know, kind of from some of the mistakes they were making, and then eventually I jumped in right behind them, and you know, my first deals, you know, were a little bit rough, but
16:23
[SPEAKER_04]: I did go on to get some mentorship from a local program and there's a program called Jumpstart Germantown.
16:31
[SPEAKER_04]: Jumpstart Philly, check it out.
16:33
[SPEAKER_04]: I'm still a big advocate from this program and I learn the technical side of Real Estate.
16:39
[SPEAKER_04]: See a lot of us like.
16:41
[SPEAKER_04]: We're doing real estate off of emotion.
16:44
[SPEAKER_04]: We're doing real estate because people make it seem sexy.
16:47
[SPEAKER_04]: You know, people are sensationalizing it.
16:49
[SPEAKER_04]: But we don't really know the technical side.
16:53
[SPEAKER_04]: Analyzing the deal underwriting the deal, putting it through a pro-forma spreadsheet of tools going to help you to make sure it's a good deal.
17:01
[SPEAKER_04]: Once I got that piece of it, it was game over my next project.
17:06
[SPEAKER_04]: I won project at a year.
17:07
[SPEAKER_04]: I made it into the newspapers and it was on from then on.
17:13
[SPEAKER_04]: So like 2015, 2016, I wasn't my whole shift in the game was way different.
17:20
[SPEAKER_04]: That's how I got that technical knowledge.
17:21
[SPEAKER_04]: And I learned that paperwork piece of it.
17:25
[SPEAKER_02]: So how about on the side?
17:26
[SPEAKER_02]: Cause you know, like when it comes to real estate investing, you know, a lot of people usually be like, yo, you know, you got a, you got a, you got a watch out for certain contract is you got a watch out for this, you got a watch out for that.
17:39
[SPEAKER_02]: I mean, you went to school, but you know, you can't do everything when it comes to building up a apartment building or house, you know what I mean?
17:46
[SPEAKER_02]: Like how you go out there, you actually hire the right team to make sure that the job actually gets done, you know?
17:53
[SPEAKER_04]: So I kind of got thrown into the fire with hiring and understanding how to hire people.
17:59
[SPEAKER_04]: When I came home, it was like, my family business was running and my brother and my mom was handling one side, the desire inside, and a lot of the sales side, and like they, you know, they was be said that.
18:11
[SPEAKER_04]: And my thing by default, because I went to school for construction and went to school for electric, you know, these things was the construction side.
18:18
[SPEAKER_04]: And so, you know, in the beginning, like I got thrown into the fire, we need three more people.
18:22
[SPEAKER_04]: We need four more contractors.
18:25
[SPEAKER_04]: Yeah.
18:25
[SPEAKER_04]: And, you know, the biggest thing I learned was, one, it's usually just one person, one good higher, one good true that could change the game from you.
18:36
[SPEAKER_04]: Change the game for you.
18:37
[SPEAKER_04]: So, get out there and find them.
18:38
[SPEAKER_04]: Like you got to be outside of home depot waiting at the pro desk.
18:43
[SPEAKER_04]: You got to be outside of the supply houses where the contractors the good contractor shop.
18:47
[SPEAKER_04]: You got to have your pitch game ready to be able to connect with them and you just got to get out dinner and find them.
18:53
[SPEAKER_04]: That one person is going to change the game for you.
18:57
[SPEAKER_04]: So I got out there and I started finding them.
19:00
[SPEAKER_04]: And second to that, you want to make sure that you verify what your people like.
19:07
[SPEAKER_04]: You know, people tell you things, people show you pictures, but you want to verify.
19:11
[SPEAKER_04]: These contractors, you know, you want to call the references.
19:14
[SPEAKER_04]: You want to go and see their work.
19:15
[SPEAKER_04]: You know, you want to be able to, you know, work off a referral.
19:18
[SPEAKER_04]: Other people that have worked with them before, so that you could verify they do what they say they can do.
19:24
[SPEAKER_04]: You know, that's going to help you have a much better outcome.
19:26
[SPEAKER_04]: And last but not least,
19:28
[SPEAKER_04]: you want to have a contract because a lot of people man they get in burnt by contract is all here.
19:33
[SPEAKER_04]: It's because they're not operating with a contract.
19:37
[SPEAKER_04]: A contract is the staple piece.
19:39
[SPEAKER_04]: A lot of people are working with their contract because you work with your contract right now.
19:43
[SPEAKER_04]: and you think you have a contract.
19:45
[SPEAKER_04]: It's really not a contract what they sent you was a quick book's invoice or a PayPal invoice or even worse than that they sent you a text message and had you send them a Zell, you know, operate it off of a contract.
19:58
[SPEAKER_04]: Good contract is going to operate off of contracts.
20:00
[SPEAKER_04]: And that contract is going to break down who they are.
20:04
[SPEAKER_04]: You want to make sure they got the insurance.
20:06
[SPEAKER_04]: Make sure they got the tax stuff in place.
20:08
[SPEAKER_04]: It's going to break down something called a scope of work.
20:10
[SPEAKER_04]: The scope of work is going to outline everything that they responsible for doing down to the T the more information the better.
20:17
[SPEAKER_04]: It's going to break down all of the payments because what's the number one thing people go through fallout would have had problems with their contracts with their paying on their show up.
20:24
[SPEAKER_04]: They pay them down and show up.
20:25
[SPEAKER_04]: They don't break down the payments.
20:26
[SPEAKER_04]: They don't know when they're paying, when they're not paying, they're getting all the money up front and they go.
20:31
[SPEAKER_04]: And your contract, you want to have the payment break down, it's called a draw schedule.
20:34
[SPEAKER_04]: Right.
20:35
[SPEAKER_04]: And then that's but not least.
20:37
[SPEAKER_04]: In your contract, you want to have terms, you know, everything's going to be up to coo.
20:43
[SPEAKER_04]: Everything's going to be done with in, you know, 30 days, 60 days, 90 days.
20:48
[SPEAKER_04]: And if it's not, I'm a bill, you $100 a day.
20:51
[SPEAKER_04]: And if I got to sue you and take you to court, we're going to go to court in this state.
20:55
[SPEAKER_04]: And you want carrying insurance, all of those things that protect you is going to be inside of your contract.
21:00
[SPEAKER_04]: So when you hear a lot of these, these war stories are these harsh stories from people.
21:05
[SPEAKER_04]: It's because they're not finding the right contractors in the right places.
21:08
[SPEAKER_04]: They're not verifying and then they're not driving the relationship both of a contract.
21:14
[SPEAKER_04]: Makes it put that contract in place.
21:16
[SPEAKER_04]: It's going to be a whole different ball game.
21:18
[SPEAKER_01]: Sorry to break this amazing episode.
21:20
[SPEAKER_01]: I just have to let you guys know.
21:21
[SPEAKER_01]: Best tool for marketing in 2025 is podcasting.
21:25
[SPEAKER_01]: Listen, it transformed our lives across all platforms.
21:28
[SPEAKER_01]: We was able to hate 15 million plus people.
21:31
[SPEAKER_01]: Imagine what it did for our business to mention.
21:34
[SPEAKER_01]: We also have some notable likes just through podcasting.
21:37
[SPEAKER_01]: People like you same boat, the way in Wade, Kevin Garnet, Steven A. Smiths, Edrick the entertainer.
21:43
[SPEAKER_02]: Queen Latifa.
21:44
[SPEAKER_02]: But more importantly, having engagement by your dream clients is probably the most important thing that will move the needle for you and your business.
21:52
[SPEAKER_02]: So what we want to teach you is exactly how to go out and start creating an amazing content that will find your dream audience to go ahead and start paying you for your products and your services.
22:02
[SPEAKER_02]: If you want to be able to learn exactly how to build up an audience and build up a brand online,
22:07
[SPEAKER_02]: where people start knowing you like you and buying from you for your products and services, what I want to do is invite you guys to our next free masterclass, where we're showing you exactly how you can start taking your content and being seen online by your dream clients, and possibly be some celebrities as well.
22:23
[SPEAKER_02]: Go ahead and click the link down below, and I'm going to see you guys in that next masterclass.
22:27
[SPEAKER_01]: That right there bro is a lot of game because even choose be told like a lot of people when they jump and say it's real estate game They didn't have so much losses.
22:34
[SPEAKER_01]: They didn't got birth of so many times like You know, so the fact that you know you don't really have that that crazy of a story You know, I mean it's kind of it's kind of shocking, bro.
22:45
[SPEAKER_04]: Yeah, I mean it just came from just you know
22:47
[SPEAKER_04]: man, I went into it the right way, like, I'm a, I told you, I was a reader, I was a, you know, a nerd in the sense when I was a young person, you know what I mean?
22:58
[SPEAKER_04]: And like, I brought that same application though into what I do now, like, I'm a student of it.
23:04
[SPEAKER_04]: I remember it so much on how to hire contractors and contracts and process before I even,
23:10
[SPEAKER_04]: You know, attempt to do it.
23:11
[SPEAKER_04]: I didn't even have a mentor at the time for that.
23:14
[SPEAKER_04]: But I took the things I learned from school, plus the things I learned on my own, and you know, had a lot of success in doing it.
23:19
[SPEAKER_04]: But as a mentor to y'all and everybody on this call and the site of helping everybody on this call, though, you know, don't make them those mistakes that most people make.
23:28
[SPEAKER_04]: Make sure that you got that kind of track and that people work in, please.
23:31
[SPEAKER_02]: Yeah.
23:32
[SPEAKER_02]: It's kind of funny because, you know what I mean?
23:33
[SPEAKER_02]: Like you, you've got started a while back.
23:37
[SPEAKER_02]: And now in 2026, chatGPT, you know what I mean, like, it's like, yo, like, how can I make sure I don't mess up with this contract or how can I, you know, mess up, I make sure I don't mess up on this side, but now you had to go, you know, hit the books and literally learn all this stuff.
23:56
[SPEAKER_04]: And you guys should do it.
23:57
[SPEAKER_04]: It's a game changer.
23:59
[SPEAKER_04]: Yeah, I can a day like we had.
24:01
[SPEAKER_04]: Google, Yahoo, University, even had the encyclopedia is at one point in 10 years.
24:08
[SPEAKER_04]: I know you're a little young.
24:09
[SPEAKER_04]: You might not even go back to the encyclopedia, but I put out the Britannica.
24:13
[SPEAKER_04]: But this information is out there for your students of it, such a soft down and learning.
24:20
[SPEAKER_04]: And I mean, you could be more successful in what you're doing.
24:26
[SPEAKER_01]: When it comes to real estate, it's a lot of different strategies that people, you know, they will use same vests.
24:33
[SPEAKER_01]: Like, what was like the first strategy that you did were like, were you doing fixing flips?
24:37
[SPEAKER_01]: Like, were you buying a holding like, like, what was the first strategy you jumped into?
24:41
[SPEAKER_04]: My first strategy was like, a lot of other people's first strategy probably was like, this deal feels good.
24:48
[SPEAKER_04]: It looks good.
24:49
[SPEAKER_04]: I'm about to do real estate.
24:51
[SPEAKER_04]: I'm about to fix it and sell it and make some money.
24:54
[SPEAKER_04]: Like, it really wasn't a strategy.
24:57
[SPEAKER_04]: Um, and you know, as why I took some took some hits and some of those, those earlier on deals.
25:02
[SPEAKER_04]: Like, the sensationalism, like the emotionalism we tie into real estate,
25:09
[SPEAKER_04]: It's hurting a lot of us, like we want to just be doing real estate just to do real estate.
25:14
[SPEAKER_04]: What I'm always challenged in a giant educate people to do when show people how to do was like,
25:18
[SPEAKER_04]: how to just be straight numbers driven.
25:21
[SPEAKER_04]: And now this is driven.
25:22
[SPEAKER_04]: I don't care how to deal fills, how to deal looks, how is going to look while I'm doing it on the Gram is like if the numbers from the beginning don't make sense, we say if the numbers don't pencil out, meaning right margins, right cash out of mouth, right construction numbers, right purchase price.
25:40
[SPEAKER_04]: If those numbers don't all check,
25:43
[SPEAKER_04]: I don't care how I feel, I don't care how it's going to look, I'm not doing it.
25:46
[SPEAKER_04]: You know what I mean?
25:47
[SPEAKER_04]: And that's the progression in the growth, but a lot of us got to go through some mistakes and some bad deals, the bad deals to get there.
25:54
[SPEAKER_04]: But if you're listening and you're on this call, like I'm going to try to take heed, don't be doing real estate just to be doing real estate, you know, do deals that make sense from before you buy them.
26:06
[SPEAKER_04]: by analyzing them, using spreadsheets and tools like Proformas that I tell you, these numbers look good here, here, here, here.
26:15
[SPEAKER_04]: You factor for all these different things and the deal works.
26:18
[SPEAKER_04]: Right.
26:19
[SPEAKER_02]: So for me, like for what you do actually kind of walk us through step by step, especially like for a beginner, like, what's some of the numbers, like that you usually take at up to make sure you know a deal actually checks
26:35
[SPEAKER_02]: people go based off of emotions, older house looks good.
26:39
[SPEAKER_02]: It's right next to a hospital and should be able to be rented out, you know, I could probably charge this amount of money every month and make, you know, X amount of dollars, but like, that's not really like the real side to be in an investor.
26:53
[SPEAKER_02]: It's like step by step, like what would you do?
26:55
[SPEAKER_02]: Like what kind of numbers are you looking at to be able to make a logical decision?
27:00
[SPEAKER_04]: I mean, so to do it the right way, you need to learn how to do pro-forma analysis.
27:06
[SPEAKER_04]: So like, pro-formas is a tool.
27:08
[SPEAKER_04]: Okay.
27:08
[SPEAKER_04]: It's just a spreadsheet.
27:09
[SPEAKER_04]: You put the purchase price in.
27:11
[SPEAKER_04]: You put the construction number in.
27:13
[SPEAKER_04]: In fact, it's all of like, you're cost on your project to hold the property.
27:17
[SPEAKER_04]: And once people not counting holding costs and assurance, you know, utility bills while you hold them the property, you know, people not counting the interest that they're going to pay.
27:26
[SPEAKER_04]: Yeah.
27:29
[SPEAKER_04]: This performance spreadsheet will count all of those things so you can affect a real profit.
27:35
[SPEAKER_04]: It'll break down different things like get expenses.
27:38
[SPEAKER_04]: A lot of people that are doing deals and they're looking to rent them out on the back end and they're saying, I'ma rent it for $2500 and my mortgage is going to be $1800, so I'm making $700.
27:51
[SPEAKER_04]: Or I'ma rent it for $3,000 and my mortgage is going to be $1500 and I'm out to make $1,500.
27:58
[SPEAKER_04]: they're not counting the expenses, you know, vacancy expenses when people would don't live inside of the building, property management expenses so that you not running over there, you know, managing and changing light bulbs at, you know, different hours of the day every time a snowing, you not running over there, repair expenses because things are going to break down, you know, things are going to need to be fixed, taxes and insurance, water bills, you know, like all these things are expenses that I want to take away from all that profit
28:27
[SPEAKER_04]: That's all going to be inside of a pro-former, you know, and then most importantly, your cash flow, right people think they're making a certain amount of money because they not factor in all these expenses The pro-former's going to take how much you're making mine is all the things that you spend the known that you're not thinking about and tell you what you're really making You know, it's what's what your real profit is And so like High level you got to be doing a pro-former
28:53
[SPEAKER_04]: You got to be running these deals all the way through.
28:56
[SPEAKER_04]: If you just ignore real estate investor and you just get in into the space You know, there's some other quick tips and tricks that we do.
29:03
[SPEAKER_04]: Are you want to be able to buy and purchase a property?
29:07
[SPEAKER_04]: Buy and rehab a property for 70% of what is going to be worth when it's done.
29:12
[SPEAKER_04]: We call it the 70% rule So if the property's going to work for a hundred thousand one is done and
29:17
[SPEAKER_04]: I want to be able to buy it and fix it for 70,000.
29:21
[SPEAKER_04]: You want to be able to buy and repair a property for 70% of what is going to be worth when it's done.
29:28
[SPEAKER_02]: To you make $30,000 off that transaction.
29:31
[SPEAKER_04]: and theory.
29:32
[SPEAKER_04]: That's the first step that you'd be able to make $30,000 off of that transaction.
29:37
[SPEAKER_04]: Now, that's before you put it through a performer because that you put it through a performer.
29:41
[SPEAKER_04]: You're going to really see it's not going to really be a true 30,000.
29:44
[SPEAKER_04]: It's going to be a little less because you got commissions and you got this and you got that.
29:48
[SPEAKER_04]: But like that's that first kind of guy than rule of thumb.
29:51
[SPEAKER_04]: Make sure you could buy him and fix it for 70% of what is going to be worth when it's done.
29:56
[SPEAKER_04]: 65% of what is going to be buying rehab for 65% of what is going to be worth when it's done is even a better deal All right, because it's more spread in theory 35% makes sense.
30:06
[SPEAKER_04]: You know, so like that's a good guideline for my first time in Vusses and The next thing would be just looking at a bunch of deals though because a lot of people that's just getting into the real estate investing game
30:20
[SPEAKER_04]: They're looking at one deal, trying to make everything make a break off.
30:23
[SPEAKER_04]: One deal, they fix it, and on one deal, anybody that's watching this, like you want to get good at analyzing deals, look at five deals a week, look at 10 deals a week, you know, you really can't get your feet wet, so you're looking at 10 deals a week, right?
30:38
[SPEAKER_04]: Because honestly, nine out of those 10 is going to be bad deals.
30:41
[SPEAKER_04]: One of the biggest mistakes people making this game is they trying by everything they see, like just because they saw it.
30:46
[SPEAKER_05]: Yeah.
30:46
[SPEAKER_04]: Just because somebody sent it to them, the real logic would tell you that most deals are bad deals.
30:52
[SPEAKER_04]: So you need to be looking at 10, 20, 30, just to find that one.
30:55
[SPEAKER_04]: So if you're not looking at that many you are doing yourself a disservice.
30:58
[SPEAKER_02]: Right, right, right.
31:00
[SPEAKER_02]: That's what, for all you men, especially when they come to the business, too, you know what I mean?
31:03
[SPEAKER_02]: Like, you got to put up a lot of shots before you could actually get the good ones, you know what I mean?
31:08
[SPEAKER_02]: Like, and just keep going over and over and over again, and just doing that cycle.
31:12
[SPEAKER_04]: Yeah, I got to get those reps.
31:17
[SPEAKER_04]: So like, early on, I was doing more traditional, real estate deals.
31:21
[SPEAKER_04]: I was doing like buying flips, just buying holds.
31:24
[SPEAKER_04]: I was doing my contractor business.
31:27
[SPEAKER_04]: But then I stumbled across affordable housing at the time.
31:31
[SPEAKER_04]: I wasn't just doing construction.
31:33
[SPEAKER_04]: I wasn't just doing real estate.
31:35
[SPEAKER_04]: I was doing education.
31:37
[SPEAKER_04]: I was taking my knowledge and sharing it with my community.
31:40
[SPEAKER_04]: I was going into those rooms that I was telling y'all.
31:43
[SPEAKER_04]: All these high places in the space and we wasn't there.
31:45
[SPEAKER_04]: So I came back to Philly.
31:47
[SPEAKER_04]: And I started doing training programs for free in the community, teaching young people construction and tree helping them get jobs, teaching brothers come home from prison, helping them to get jobs, doing free repairs for low-income seniors, single mothers who could make repairs around their home.
32:03
[SPEAKER_04]: And in those ex-services, I was still doing the real estate, still doing construction, but the education became a big thing.
32:10
[SPEAKER_04]: And that's when I came across affordable housing in my strategy and in real estate space just completely changed.
32:16
[SPEAKER_04]: Yeah, 2018, a state representative came to me and said that they wanted to work with my organization.
32:24
[SPEAKER_04]: We was training people in the community, helping people with construction, helping people with jobs, helping people with repair and city homes, and they wanted to provide us with a
32:36
[SPEAKER_04]: to fix up eight houses that we were able to get from the city for just $8 and turn them into affordable housing and teach people construction and trade in the process.
32:49
[SPEAKER_04]: So at that time, that's when all my mission and my work and my skills came together.
32:53
[SPEAKER_04]: I was able to get eight houses for $8.
32:56
[SPEAKER_04]: in the city brewery town section now if you're not from Philadelphia brewery town this is North Philly this this the hood yes but it's going through gentrification like everywhere else you know I'm sure y'all dealing with a lot of the same things here in New York people getting displaced pushed out of the community I was able to get eight houses in this area to build eight affordable homes for eight dollars and a hundred thousand dollars in grant money to be able to make it happen the part about it though that was a big
33:26
[SPEAKER_04]: It's those eight houses that I got for $8 was worth $100,000 a piece.
33:31
[SPEAKER_04]: Right.
33:32
[SPEAKER_04]: So $800,000, $800,000 for houses for $8 plus $100,000 in grant money that I didn't have to pay back to build quality affordable housing real estate in my community for people that was in need.
33:48
[SPEAKER_04]: So when you're talking about the strategy and the beginning of my strategy was a little
33:55
[SPEAKER_04]: My mission, my work, my ex-a-serve is all came together and gave me a strategy and a real estate.
34:01
[SPEAKER_04]: That's affordable housing, which is a beautiful thing because you were able to serve people, help a lot of people, love with a playing field, and create generational wealth for you and your family.
34:10
[SPEAKER_03]: Right.
34:10
[SPEAKER_04]: So like, that's where my whole strategy shift.
34:13
[SPEAKER_04]: And since then, I've just been affordable housing 100%.
34:17
[SPEAKER_04]: Wow.
34:18
[SPEAKER_01]: Wait, so, so you kind of like, you definitely got to break down that, that whole, the eight houses for eight dollars, like a little bit more in debt, because a lot of people didn't, they haven't heard that before, you know what I mean?
34:33
[SPEAKER_01]: So, so, how, like, why is the government, you know, giving out these houses for that low and like,
34:41
[SPEAKER_04]: You know, like being that chair of the person was going to be developing it or you know how building these houses do you have like some type of equity in it ownership like how does that work so the reason why the government are giving these houses are selling you these houses because they're not giving them to you is not because they want to be your best friend is not because you know somebody is not because they try to hook you up it's because it's a major problem and it's a country with housing.
35:08
[SPEAKER_04]: 75% of people right now can't afford to buy an average home that's on the market.
35:14
[SPEAKER_04]: It's too expensive.
35:15
[SPEAKER_04]: Right.
35:17
[SPEAKER_04]: 50% of people can't afford to rent.
35:19
[SPEAKER_04]: It's too expensive.
35:21
[SPEAKER_04]: The average person is spending more than 50% of their income on housing.
35:28
[SPEAKER_04]: Any time you spend more than 30% of your income on housing, you've got a problem.
35:32
[SPEAKER_04]: People spend a 50, 60% of your income on housing right now.
35:36
[SPEAKER_04]: There's an affordable housing crisis all across this country.
35:40
[SPEAKER_04]: We need 10 million plus homes built right now as we speak.
35:46
[SPEAKER_04]: and the government can't build 10 million homes, they're not in the business of building 10 million plus homes.
35:52
[SPEAKER_04]: The big, the slow, it's a lot of red tape.
35:56
[SPEAKER_04]: It's very expensive for them because the government contracts and just how much those costs are around it.
36:02
[SPEAKER_04]: So they see that there's an opportunity to partner up with private developers.
36:10
[SPEAKER_04]: local developers community developers to help assist the build all these homes because they can't do it on the own.
36:16
[SPEAKER_04]: And one of the number one ways they do it is by incentivizing us to help them.
36:23
[SPEAKER_04]: And selling us houses for $1, $10 land $4,000.
36:29
[SPEAKER_04]: Even though it's worth way more than that,
36:32
[SPEAKER_04]: They sell it to us for these lower prices, because this way we can still put in construction.
36:38
[SPEAKER_04]: Still have those costs go in and then still have enough room to sell it for affordable numbers or rent it for affordable numbers.
36:46
[SPEAKER_04]: That's the only reason they give in us these prices for these houses for these prices is to solve this problem.
36:52
[SPEAKER_02]: So there's some of you the house for a dollar.
36:55
[SPEAKER_02]: And then you're going to turn around and then grant you $100,000 each.
37:00
[SPEAKER_02]: So it's all taken to get the grant somewhere else.
37:03
[SPEAKER_04]: It's all types of tools, y'all.
37:04
[SPEAKER_04]: And affordable housing space is such a crisis going on right now that the government is giving private developers tools to make this happen.
37:12
[SPEAKER_04]: Just one of the tools is selling you houses for a dollar, which is really called a nominal fee.
37:18
[SPEAKER_04]: Yeah, I want y'all saying you're they let me get a dollar house J. P. said They don't talk like that.
37:27
[SPEAKER_04]: Yeah, it's they're selling your property for a nominal fee nominal means you're paying something way let for something way less than what is worth So they sell to you for a dollar and it's worth $50,000 they sold it to you for a nominal fee they sell it to you for $500 and it's worth
37:42
[SPEAKER_04]: 80,000 they sold it to you for a nominal fee.
37:45
[SPEAKER_04]: The only reason they sold it to you for that nominal fee is because you're going to do affordable housing and it helps you to do affordable housing.
37:53
[SPEAKER_04]: That's one tool they give you.
37:54
[SPEAKER_04]: They got grants, that's a completely different tool.
37:57
[SPEAKER_04]: They got tax credits, that's a completely different tool.
38:01
[SPEAKER_04]: And you can apply for all three.
38:03
[SPEAKER_04]: You can apply for five or six different tools.
38:05
[SPEAKER_04]: You can put it all together to solve the problem with affordable housing.
38:08
[SPEAKER_01]: It makes sense.
38:09
[SPEAKER_01]: It makes sense because I was just about to ask you that too because I was like, wait, so if you know, if the government is giving these houses for a dollar, it only makes sense that, you know, the math will make sense because it's like, I'm not using debt to buy it.
38:25
[SPEAKER_01]: So it's like, in that case, I could afford to do affordable housing.
38:29
[SPEAKER_01]: So it makes sense.
38:30
[SPEAKER_01]: I see what you're saying.
38:31
[SPEAKER_04]: That's the whole thing, is it sell to you for the normal price, yeah, after you do construction it will be a normal deal and you'd have to sell it for the normal amount of money, that's not affordable or you'd have to rent it for the normal amount which is not affordable, that's why they do it.
38:45
[SPEAKER_01]: So how do they, how do they find people like to go out and sell these houses to like, because I know it's pretty, I'm pretty sure it's not just anybody, right?
38:55
[SPEAKER_04]: I mean, you're asking the right questions, right?
38:57
[SPEAKER_04]: So that's what a lot of this work that I'm doing is.
39:00
[SPEAKER_04]: It's around making sure that we're aware that this is going on in our communities because that people that are buying these houses and that are leading these developments that usually not from the community, you know, not against them.
39:13
[SPEAKER_04]: You know, you need the housing that build in the housing, but a lot of times it's not us.
39:17
[SPEAKER_04]: Yeah.
39:18
[SPEAKER_04]: And, you know, my whole thing is this.
39:21
[SPEAKER_04]: We've been consumers for a long time.
39:24
[SPEAKER_04]: We need affordable homes.
39:25
[SPEAKER_04]: Let's buy affordable homes.
39:26
[SPEAKER_04]: I'm happy that we have affordable homes.
39:29
[SPEAKER_04]: But the business side of it is a multi-billion dollar industry.
39:35
[SPEAKER_04]: We need to be on that side too.
39:37
[SPEAKER_04]: So that this money is coming into our community on that side too, because
39:43
[SPEAKER_04]: If we touch those dollars, then our community touches those dollars.
39:47
[SPEAKER_04]: Our systems, our brothers, our colleagues, our employees, touch those dollars, and it comes back into our neighborhoods.
39:53
[SPEAKER_02]: So what's the qualification is to be able to go out there and buy these houses as a huge discount to be able to get those phenomenal fees of $1,500.
40:07
[SPEAKER_02]: like what kind of qualifications that you got to have like is any website that you got to go on to be able to find these houses to actually you know I don't know if it is a bit or you got to write up a some kind of draft some you know a proposal like I'm not sure
40:23
[SPEAKER_02]: Worst of qualification is on that side like you know and then also websites and resources they may have to go to I got you So first thing first is you got to know you got to know about it always tell people all the time You got to see it to be it.
40:35
[SPEAKER_04]: Yeah, and so a lot of what we doing is like my telling you I got 23 houses for 23 dollars
40:40
[SPEAKER_04]: That was worth $2.3 million just to tell you that.
40:44
[SPEAKER_04]: Right.
40:44
[SPEAKER_04]: I'm telling you so you like this is really going on.
40:47
[SPEAKER_04]: We want people to see the receipts.
40:48
[SPEAKER_04]: We want people to hear about it so they know that it's going on.
40:51
[SPEAKER_04]: They know it's real and so that they could be a part of it.
40:53
[SPEAKER_04]: That's step one.
40:54
[SPEAKER_03]: Right.
40:54
[SPEAKER_04]: Isn't this awareness?
40:56
[SPEAKER_04]: Step two is how qualified do you have to be?
41:00
[SPEAKER_04]: It just depends on what type of deal you're going after.
41:02
[SPEAKER_04]: We've had people that have purchased homes for $1, $9,000, $9,000 fees, that is their first deal.
41:09
[SPEAKER_04]: We did a lottery program in Philadelphia where we had over 40 homes go to the first time real estate developers, they bought it for $10 dollars, still a $9,000 fee, $10 dollars for houses worth $660,000, it's a $9,000 fee, the first time developers.
41:24
[SPEAKER_04]: We got deals right now where people have only done three to five deals and they get in ten lots $1,000 a piece, but each lot is worth $60,000 and again $600,000 a week for land for $10,000 dollars.
41:37
[SPEAKER_04]: The only did three to five deals before Then you got that people that were working with that a way more experience they're working with the government and getting tax credits They get in free money
41:49
[SPEAKER_04]: buy the millions for their projects and they got more experience.
41:52
[SPEAKER_04]: But the first thing is understanding that it's going on.
41:55
[SPEAKER_04]: The second thing is understanding that you can do this too.
41:59
[SPEAKER_04]: This is not just for somebody that has a whole lot of experience.
42:01
[SPEAKER_04]: The first deal, second deal, third deal is opportunity.
42:06
[SPEAKER_04]: The next piece dough that you asked is where?
42:09
[SPEAKER_04]: Right?
42:09
[SPEAKER_04]: Like JP, you're telling us about these dollar houses today.
42:12
[SPEAKER_02]: He's talking about Bobby.
42:13
[SPEAKER_02]: Yeah, he's
42:15
[SPEAKER_00]: where you're getting them from.
42:17
[SPEAKER_00]: Can I give you a quick tip on how to build wealth?
42:19
[SPEAKER_00]: I mean, take everything you think you know about investing and throw it out the window.
42:23
[SPEAKER_00]: The one skill that's holding you back isn't what you think it is.
42:26
[SPEAKER_00]: You've got the draw.
42:27
[SPEAKER_00]: You have the vision.
42:28
[SPEAKER_00]: You may even have the capital, but for some strange reasons, you are still not seeing the returns that you are looking for.
42:34
[SPEAKER_00]: Sounds familiar, right?
42:36
[SPEAKER_00]: I know.
42:36
[SPEAKER_00]: I understand exactly how you feel.
42:38
[SPEAKER_00]: Because for me, it was the exact same thing.
42:41
[SPEAKER_00]: For years, I spent time buying single family houses, doing Airbnb, arbitrage, renting cars, on Toro, doing seven different businesses, look at for seven different streams of income to become a millionaire.
42:53
[SPEAKER_00]: And it was the exact opposite of what I needed to do to build true wealth.
42:57
[SPEAKER_00]: The truth is, it was my ability to find already existing cash flow in businesses that are generating money immediately.
43:05
[SPEAKER_00]: In fact, 90% of business owners fell within the first 10 years.
43:09
[SPEAKER_00]: So I was steady taking a chance of being part of that 10% to build wealth.
43:14
[SPEAKER_00]: When 10,000 baby boomers are retiring every single day who ran businesses for 10, 20, 30 years and are looking to retire and sell those businesses directly to people like you to collect that cash flow.
43:26
[SPEAKER_00]: immediately.
43:27
[SPEAKER_00]: So now you can buy those businesses for pennies on the dollar, which is why I put together my completely free workshop, while I'm going to show you my four-step process to get access to a quarter million dollars in funding in 90 days to invest to about already cash for one business.
43:43
[SPEAKER_00]: This is exactly what Cookie Robinson did by purchasing her very first cash-one business, a package ship business that has bring in a money day one, and she did it creatively with little to no money out of a pocket.
43:54
[SPEAKER_00]: This is exactly where Naya, the legacy bill that has done.
43:57
[SPEAKER_00]: She purchased a dry cleaning business, utilizing creative finance.
44:01
[SPEAKER_00]: And I want to teach you these exact strategies that you can implement and start making money immediately.
44:06
[SPEAKER_00]: This is the fastest way to build wealth in 2025.
44:09
[SPEAKER_00]: So I'm having a completely free training.
44:11
[SPEAKER_00]: Click this link below.
44:12
[SPEAKER_00]: I want you to register.
44:14
[SPEAKER_00]: It's time for you to build a legacy for you and your family.
44:16
[SPEAKER_04]: For sake of time, I'm gonna give y'all my top two places.
44:20
[SPEAKER_04]: Number one is going to be from a county land bank.
44:25
[SPEAKER_04]: So city land bank, township land bank.
44:28
[SPEAKER_04]: There's these government agencies that are called land banks and their whole job is to take
44:34
[SPEAKER_04]: City on land, township on land that they got from, you know, condemning tech sales, you know, a lot of properties and land coming to the land bank's possession through different ways.
44:45
[SPEAKER_04]: Their whole role in responsibility is to push those properties back into the community for public service, good use, good purpose.
44:53
[SPEAKER_04]: Number one on that list is affordable housing.
44:56
[SPEAKER_03]: Right.
44:56
[SPEAKER_04]: So they got these properties that are sitting on, they're selling to you for nominal fee, $10 to build a
45:05
[SPEAKER_04]: So you want to find your land bank right now.
45:08
[SPEAKER_04]: There might be a different name where you live.
45:11
[SPEAKER_04]: It might not be called a land bank.
45:12
[SPEAKER_04]: It might be called a redevelopment authority.
45:14
[SPEAKER_04]: So you want to find your redevelopment authority.
45:16
[SPEAKER_04]: Or maybe some places where you all live is called a repository.
45:20
[SPEAKER_04]: Bottom line is the government agency land bank, redevelopment authority, repository.
45:25
[SPEAKER_04]: Find the one where you live.
45:26
[SPEAKER_04]: They sit in a land in properties.
45:28
[SPEAKER_04]: And they will sell them to you for a nominal fee to build a affordable housing.
45:33
[SPEAKER_04]: All you gotta do is go to the website, sign up for their news letter, sign up for their do business with us, vendor tab opportunities, there's always some sort of tab that it's say, sign up to get our email, sign up to get our business opportunities, sign up for that, they're going to start sending you emails that let you know we're selling this property, we're selling this piece of land, and you can come in a plod for it.
45:57
[SPEAKER_04]: So there's a few different ways to go about getting them.
46:00
[SPEAKER_04]: One, you gotta go get on that list.
46:03
[SPEAKER_04]: Right.
46:03
[SPEAKER_04]: Next, they're gonna be sending out notices that just a request for proposal or a request for qualification.
46:09
[SPEAKER_04]: When you see either one of those RFP or RFQ, I want you to say they get ready to sell something.
46:15
[SPEAKER_04]: All you gotta do is go to the meeting and they're gonna break down what they're selling, what you have to do to be able to apply for it and put together a proposal for it.
46:25
[SPEAKER_04]: Now, the thing about this meeting, you think you're going to show up and it's going to be 100 people there is not because most people don't even know about this stuff.
46:33
[SPEAKER_04]: You're going to show up is going to be not as many people as you think.
46:36
[SPEAKER_04]: Now, the application piece, don't get intimidated by it, chat GBT, consultants.
46:45
[SPEAKER_04]: Just people that you could pay a few hundred bucks or a few thousand bucks at the fill out the application for you.
46:50
[SPEAKER_04]: You apply, you get five pieces of land, 10 pieces of land, two houses for a nominal fee.
46:57
[SPEAKER_04]: Once you got that successful application, you might take three weeks to put it together, a month and a half to put it together, but that's what.
47:03
[SPEAKER_04]: Now that you got that successful application, you just copy and paste.
47:07
[SPEAKER_04]: If we use that same app for every RFP, every RFQ that comes down to the pipeline.
47:13
[SPEAKER_04]: And you just keep on applying for everything that that land bank or redevelopment authority or repository is releasing.
47:19
[SPEAKER_04]: right do that application process but all you got to do is go to the website and and jump on that do business with his dad and just start paying attention to go up in the plot so now I want to add on to this now because I feel like you know like those opportunities and in places like New York City bro you know what I mean like right now New York City one's the last time you look
47:39
[SPEAKER_04]: Oh my gosh, there you go, there you go, there you go, anywhere.
47:44
[SPEAKER_04]: But right now, New work right across the river from y'all selling houses for $100.
47:50
[SPEAKER_04]: That's worth $40, $50, $60, right now is what we speak New work is selling houses for $100 for nominal fees.
47:56
[SPEAKER_04]: So now what we speak.
47:58
[SPEAKER_02]: My thing is, I'm thinking, uh,
48:00
[SPEAKER_02]: Vanking properties, beat up properties, properties like people couldn't live in, you know what I mean?
48:06
[SPEAKER_02]: That's what I was thinking.
48:07
[SPEAKER_02]: That was, that was, that's what went to mind.
48:09
[SPEAKER_02]: I might, you know, like are the properties that you buy and are they already fully functioned or and they just need some work to it?
48:15
[SPEAKER_02]: Or usually like they're vacant, it's a hole in the ceiling.
48:19
[SPEAKER_02]: The back roof is probably, I mean, the back walls are probably blown off by a storm of something like that.
48:24
[SPEAKER_02]: Like usually, what's the conditions when you buy it?
48:27
[SPEAKER_04]: It's a mixture.
48:28
[SPEAKER_04]: Yeah.
48:29
[SPEAKER_04]: I get properties that are literally moving ready, yeah, and I get properties that are distressed.
48:35
[SPEAKER_04]: The bottom line though is I'm always buying them in the right neighborhoods, because here's the thing.
48:41
[SPEAKER_04]: Affordable housing isn't needed in the worst of the neighborhoods in our cities, yeah.
48:45
[SPEAKER_04]: Affordable housing is needed where everybody then got gentrified out in homes of selling for 500,000.
48:51
[SPEAKER_04]: You can't really $500,000 is a lot in New York.
48:53
[SPEAKER_04]: That might be $1.5, $3 million for way more than what they used to sell for.
48:58
[SPEAKER_04]: So it's the good neighborhoods that got a lot of these opportunities that the city owns land and they got to make sure something stays affordable.
49:07
[SPEAKER_04]: So we go have the properties and the areas that are actually nice.
49:10
[SPEAKER_04]: Where the houses across the street are selling for $5,700, $800,000 and we get those properties.
49:19
[SPEAKER_04]: We can fix it for 100k, we can fix it for 150k.
49:24
[SPEAKER_04]: And as worth, really, 400,000 won is done, but we won't sell it for 200, because we want to keep it affordable and it's a win-win for everybody.
49:32
[SPEAKER_01]: And that makes sense.
49:33
[SPEAKER_01]: It kind of remind me of a situation with Steph Curry.
49:37
[SPEAKER_01]: And he, I guess, like, because he lives in a real rich neighborhood in Oakland, and I guess they wanted to start building a affordable housing.
49:47
[SPEAKER_01]: So I guess it probably leaked out, but he was creating like some type of petition that he don't want to for housing his neighborhood because he knows so it kind of show that, you know, they are building these in these good neighborhoods Is there like ever like a hard time or like a I kind of like some backlash from the community like hey, I don't all the time
50:17
[SPEAKER_04]: We call it Numbi.
50:19
[SPEAKER_04]: Numbi's not in my backyard.
50:21
[SPEAKER_04]: You know, there's people, man.
50:22
[SPEAKER_04]: They got the black lives matter, son.
50:24
[SPEAKER_04]: And he windowbed.
50:25
[SPEAKER_04]: They don't want that lot to be affordable housing.
50:27
[SPEAKER_04]: They want it to be a neighborhood garden.
50:30
[SPEAKER_04]: And it's like, I mean, come on, you're a part of this movement, you know, you're a part of uplifting people or not.
50:36
[SPEAKER_04]: And so there's a lot of that going on where people, you know, they're all about helping people as long as you don't build it in their neighborhood.
50:44
[SPEAKER_04]: So that is a challenge, but the thing to understand though is the government has their own mission, their own agenda.
50:51
[SPEAKER_04]: You know, every last one of y'all were y'all lived
50:55
[SPEAKER_04]: or consolidated plan.
50:57
[SPEAKER_04]: You could see what the government is planning.
50:59
[SPEAKER_04]: If the government is planning affordable housing in that neighborhood, no matter how many people complain is coming.
51:05
[SPEAKER_04]: You know what I mean?
51:06
[SPEAKER_04]: So like you can build this in good neighborhoods.
51:09
[SPEAKER_04]: Most of the stuff we're doing, we're doing it in good neighborhoods where houses are worth a lot of money.
51:14
[SPEAKER_04]: And that's something that areas where it's the most needed.
51:16
[SPEAKER_03]: Yeah.
51:17
[SPEAKER_04]: So, like, don't sleep on thinking that there's not properties that are owned by the city and somebody's great neighborhoods.
51:23
[SPEAKER_04]: In fact, when they own that, it's more pressure on your city to make sure it stays affordable housing.
51:29
[SPEAKER_04]: And Philadelphia, the biggest land owner and property owner is the city.
51:33
[SPEAKER_04]: And New York is the same thing.
51:34
[SPEAKER_04]: The city's sitting on stuff that you don't even realize.
51:37
[SPEAKER_04]: Yeah.
51:37
[SPEAKER_04]: They got tens of thousands of properties and tens of thousands of pieces of land and y'all surrounded areas, y'all just, y'all just haven't been checking for it and looking for it.
51:46
[SPEAKER_02]: They kind of reminds me of a time two where, you know, when I was probably like in middle school, like around 2013 or so, um, like downtown Brooklyn with a Barclay Center is that,
51:58
[SPEAKER_02]: Where's that now?
51:59
[SPEAKER_02]: Like I think it was it was not much there and they was like literally I think it's called any any mint domain Something like domain and a mint domain and they started teaching us this stuff in school There was like some people they don't want new stuff in the and that in that backyard They don't want new stuff in the area So what they would do is they will either be like all right cool.
52:21
[SPEAKER_02]: We go
52:21
[SPEAKER_02]: Build around it or they're gonna pay you a good amount of money to you know get it about that place and Reposition where else, you know, I mean, so yeah, I mean that part they did teach this cool for sure Every city right now is under a lot of pressure to produce a four-to-boiled housing Your new mayor is an affordable housing advocate.
52:44
[SPEAKER_04]: Oh, yeah, so like this is the season for y'all to get into the space and become aware of what's going on in the space
52:50
[SPEAKER_04]: because they're giving you tools.
52:53
[SPEAKER_04]: Being able to purchase a property for a nominal fee is just one of them.
52:57
[SPEAKER_04]: There's a bunch of other tools like that help you to be able to purchase properties for the low two.
53:02
[SPEAKER_04]: There's a program called the Home Program.
53:04
[SPEAKER_04]: You all got it right here in New York.
53:06
[SPEAKER_04]: Home funds.
53:08
[SPEAKER_04]: Some people call home dollars.
53:09
[SPEAKER_04]: Look it up.
53:10
[SPEAKER_04]: Home program that you $50,000, $100,000 per unit.
53:16
[SPEAKER_04]: of affordable housing that you build.
53:18
[SPEAKER_04]: And don't give you that $5,200,000, and you can use it to buy a property and do the construction on a property.
53:25
[SPEAKER_04]: So real quick, say you all want to buy a 10 unit build in the New York.
53:28
[SPEAKER_04]: I know it's going to be mad expensive, but you want to turn around and rent it for affordable housing.
53:34
[SPEAKER_04]: The government, because you're going to rent it as affordable housing at affordable numbers, don't give you home funds, 50,000, 100,000.
53:42
[SPEAKER_04]: It's probably even higher in New York.
53:44
[SPEAKER_04]: to purchase that building and to renovate that building.
53:47
[SPEAKER_04]: So 10 units times that by 100,000, how much does the government give you?
53:52
[SPEAKER_04]: 10 units or a hundred thousand that's 10 million some million dollars a million It's a million dollars so 10 units they give you a hundred thousand dollars per unit They give you a million dollars towards buying that building that's your down payment quick game for y'all Check out the home program you want to build a four-to-boa housing they'll give you money to build a four-to-boa housing The body building and do construction on the building
54:15
[SPEAKER_04]: The lie-tech tax credit program, you'll see Floyd Mayweather and you'll see all these NBA players and NFL players buying 200 units, 500 units of affordable housing, you know what's going on right, they're getting tax credits, they're using tax credits, the bottles buildings, the government gives you tools, it's not just for properties for a dollar, they'll give you tax credits that you can sell and get real life money, you apply for
54:40
[SPEAKER_04]: You do a hundred unit building, the government will give you tax credits that you could solve for three million, five million, six million.
54:48
[SPEAKER_04]: You take that money from those tax credits to use if you're down payment on your property.
54:54
[SPEAKER_04]: And you buy that 100-unit project with $5 million in tax credits that you got from the government.
55:00
[SPEAKER_04]: You ain't put no money out of your pocket.
55:01
[SPEAKER_03]: Right.
55:02
[SPEAKER_04]: You're talking about OPM, forget his zero APR, credit card, listen, get some tax credits.
55:07
[SPEAKER_04]: The government gives us tools.
55:09
[SPEAKER_04]: You know what I mean?
55:10
[SPEAKER_04]: It's ways to make this happen.
55:11
[SPEAKER_04]: Another one for your real quick.
55:14
[SPEAKER_04]: when you get these properties from the government and they sell them to you for these nominal fees, they come with volume, that equity, you buying something for a dollar and it's worth $60,000.
55:26
[SPEAKER_04]: You got $599.99 an equity.
55:31
[SPEAKER_04]: You could use that to fund your deal so that you ain't got to come out of your pocket.
55:34
[SPEAKER_04]: No money.
55:35
[SPEAKER_04]: Quick example, I purchased 23 properties for $23.
55:40
[SPEAKER_04]: And this was in a section in North Philly getting gentrified.
55:44
[SPEAKER_04]: Those 23 properties were for $100,000 a piece.
55:47
[SPEAKER_04]: So I got $2.3 million worth of property for $23.
55:54
[SPEAKER_04]: That was a tool the government gave me by giving it that cheap.
55:57
[SPEAKER_04]: What I was able to do was then turn around, take those 23 properties to the bank and tell them, yo, give me a line of credit against these properties.
56:04
[SPEAKER_04]: They were 2.3.
56:06
[SPEAKER_04]: The bank would give you a line of credit against those properties because the volume was still there, even though you got them for the loan.
56:11
[SPEAKER_04]: They would give you a line of credit for 20 to 30% of what those properties are worth.
56:15
[SPEAKER_04]: I got a line of credit for $950,000 from PNC.
56:20
[SPEAKER_04]: Using properties that I got for $23.
56:22
[SPEAKER_04]: I took that $950 and just did my construction, sold five of them.
56:28
[SPEAKER_04]: Did my construction, sold five of them.
56:30
[SPEAKER_04]: I came out of my pocket, $23 and I turned it in $950K.
56:35
[SPEAKER_04]: and built 23 houses like it's tools they're giving you tools they're giving you resources then you got grants the government is giving you grants to make this happen I give you all quick one every last one of y'all in y'all state or the neighbor in state y'all got a y'all got something called a home loan bank a home loan bank find your local home loan bank they will give you
56:59
[SPEAKER_04]: $300, $400, $500, $1,000 worth of free grant money that you don't have to pay back as long as you build a affordable housing.
57:07
[SPEAKER_04]: And you rent the unit says, project base affordable housing.
57:12
[SPEAKER_04]: Your heart of the project, anybody know about the project's right?
57:16
[SPEAKER_04]: Did you know that you can apply for project vouchers on your own building?
57:20
[SPEAKER_04]: You go by 20 units building right now and go to your housing authority and apply for project vouchers and know what's interesting to you building.
57:28
[SPEAKER_04]: Not the government building, to your building, you could apply for these project-based vouchers and attach them to your building.
57:35
[SPEAKER_04]: Once those project-based vouchers you get awarded the attention to your building, you could go to the banking gate, home loan grants.
57:42
[SPEAKER_04]: You could go to the bank and put down lower down payments.
57:45
[SPEAKER_04]: You could go to the bank and pay way less than interest because you got a building and got project-based vouchers to attach to it.
57:52
[SPEAKER_04]: So find your home loan banks because they got the special grants they gave you the special homes for these buildings.
57:59
[SPEAKER_04]: That would have been a good affordable housing.
58:19
[SPEAKER_02]: That's not like the government building like the project style and you still be able to do what you got to do.
58:24
[SPEAKER_02]: But I didn't even know that for example, like you could go to your housing authority and then use like one of the units as basically you're like an affordable.
58:35
[SPEAKER_02]: That's crazy.
58:36
[SPEAKER_02]: So I've really been this this question kind of been burned.
58:40
[SPEAKER_02]: I really wanted to ask this one.
58:41
[SPEAKER_02]: So, you know, a lot of times it's like, you know, we get in the houses for a dollar.
58:46
[SPEAKER_02]: You get in the houses at, you know, nominal fees.
58:50
[SPEAKER_02]: Now, first question is, do you own these houses out right now?
58:58
[SPEAKER_02]: Like, do they transfer over the titles, deeds, everything in your name?
59:01
[SPEAKER_04]: 100%.
59:03
[SPEAKER_02]: So like, you own it free clear.
59:05
[SPEAKER_04]: You own it free and clear the one caveat though everybody was to catch was to catch the one catches you got to sell it as a affordable housing got to run it as a affordable housing for how long is there sir and let it be the restriction that goes on the house so those sellers who you for a dollar yeah and no put a D restriction that says you have to keep it as affordable for five years some places.
59:27
[SPEAKER_04]: 10 years other places 15 years everybody has a different limit like in Connecticut They was doing five years and Philadelphia.
59:36
[SPEAKER_04]: They was doing 10 now it's 15 where you live it might be five 10 and 15 But as long as you keep it as affordable for that five to 15 year period Everything else is good the sale is good the profit is good everything is good so now let me actually another question So now
59:55
[SPEAKER_02]: you rented out for affordable housing, but now, I mean, you got to that such a huge discount.
1:00:00
[SPEAKER_02]: You don't have any kind of overhead.
1:00:02
[SPEAKER_02]: Right.
1:00:03
[SPEAKER_04]: You always want to take this.
1:00:05
[SPEAKER_04]: Once you put a project into place, you're going to spend some money on the building.
1:00:09
[SPEAKER_02]: Yeah.
1:00:09
[SPEAKER_04]: I mean, usually at the end, you're going to refinance and have a mortgage on it.
1:00:13
[SPEAKER_02]: But if you want to put it, why would you have mortgage, though?
1:00:16
[SPEAKER_04]: Say I bought property for a nominal fee.
1:00:19
[SPEAKER_04]: I get a property for a dollar and I do $100,000 in construction to fix it.
1:00:27
[SPEAKER_04]: I could either use my own 100,000 or I can borrow me personally, even though I got 100,000, I'm a borrow it.
1:00:34
[SPEAKER_04]: Why use my own money?
1:00:36
[SPEAKER_03]: Right.
1:00:36
[SPEAKER_04]: I'm going to go to the to a lender and say, listen, I want a 100% construction loan.
1:00:42
[SPEAKER_04]: I want you to give me 100% of the construction money.
1:00:44
[SPEAKER_04]: I won't put down any down payment because the property is the down payment is equity in there.
1:00:49
[SPEAKER_04]: And I'm gonna tell him I want you to cash me out to what the closing table and give me some of the value of that property.
1:00:54
[SPEAKER_04]: I got a foot dollar.
1:00:56
[SPEAKER_04]: That's worth 60,000.
1:00:58
[SPEAKER_04]: Give me 20,000 at the table to give me 100,000 all alone plus give me 20,000 at the table and add it to the loan.
1:01:05
[SPEAKER_04]: I would rather do a that way and then spend in my own 100,000 dollars, right?
1:01:10
[SPEAKER_04]: I'd rather do the loan.
1:01:11
[SPEAKER_04]: Plus they're gonna give me some money.
1:01:13
[SPEAKER_04]: At the end of it, though, I still owed them that money back.
1:01:16
[SPEAKER_04]: Right, the person who loaned me $100,000, I still owe it back to them.
1:01:20
[SPEAKER_04]: Yeah.
1:01:20
[SPEAKER_04]: So I'm going to refinance the building.
1:01:22
[SPEAKER_04]: I'm going to go to a bank and I'm going to refinance the building to be able to pay that $100,000 back.
1:01:29
[SPEAKER_04]: Now, I own the building is worth $250,300,000.
1:01:34
[SPEAKER_04]: Remember, it's in a good neighborhood.
1:01:37
[SPEAKER_04]: I'm renting it as affordable.
1:01:40
[SPEAKER_04]: A lot of times we rented through programs like the section eight housing choice voucher program.
1:01:44
[SPEAKER_04]: I'm getting good rent.
1:01:46
[SPEAKER_04]: I got a little more goods and I'm just cash flowing.
1:01:50
[SPEAKER_04]: I'm cash flowing it, you know, I got a nice bread, I'm renting to somebody in need.
1:01:54
[SPEAKER_04]: That's at a low income.
1:01:56
[SPEAKER_04]: It's a win-win, it's a win-win for everybody.
1:01:59
[SPEAKER_01]: So when it comes to like these type of affordable properties in these projects, do you team up with like a group of developers or is it just like,
1:02:08
[SPEAKER_01]: All right, one person because since you essentially get in it for like a dollar or even, you know, eight dollars as a group like is it like, yo, I'm teaming up with this person that we all got we hold some type of equity into this this project or is it like kind of like one person and then contract is or whoever the team is like, how does that work?
1:02:29
[SPEAKER_04]: Both ways really like partnership is is major in this game But some deals, you know you might get three houses and do three of them yourself You know as long as you could get the the long for the construction.
1:02:40
[SPEAKER_04]: Yeah, you might just do all three of so Once you start getting in in the situations to wear
1:02:45
[SPEAKER_04]: The loans start getting bigger, you might need somebody with some better credit, you might need somebody with some more money in the bank account, could you still need loans to do the construction?
1:02:55
[SPEAKER_04]: So then you might start bringing in partners.
1:02:57
[SPEAKER_04]: It's really up to you.
1:02:59
[SPEAKER_04]: Me personally, partnership is major in this game.
1:03:02
[SPEAKER_04]: A lot of the deals I do a two-partnership.
1:03:06
[SPEAKER_04]: I might take 20% of a deal.
1:03:08
[SPEAKER_04]: 20% of a watermelon, a much more than 100% of a grape.
1:03:13
[SPEAKER_04]: I might take 20% of a deal, but that deal might be worth 20 million.
1:03:17
[SPEAKER_04]: Partnership.
1:03:18
[SPEAKER_04]: But the catch is, my role in responsibility is filling out the paperwork, because I know how to fill out the paperwork you get the property for a dollar, as a major.
1:03:25
[SPEAKER_04]: If you don't have to fill out this paperwork, you're walking bank.
1:03:29
[SPEAKER_04]: People will partner with you bringing the money.
1:03:32
[SPEAKER_04]: So you'll be able to just fill out the paperwork, get the properties.
1:03:36
[SPEAKER_04]: and be able to get access to these deals through partnership.
1:03:39
[SPEAKER_04]: Cause some of these deals get big.
1:03:41
[SPEAKER_04]: You talking about, some of these deals is $30 million dollars.
1:03:44
[SPEAKER_04]: $50 million dollars.
1:03:45
[SPEAKER_04]: You start bringing the partners in.
1:03:47
[SPEAKER_03]: Wow.
1:03:47
[SPEAKER_04]: They got the big bank.
1:03:48
[SPEAKER_04]: They got the, you know, the big buying sheets.
1:03:51
[SPEAKER_04]: Yeah.
1:03:51
[SPEAKER_04]: But you could do it yourself or you could do it through collaboration.
1:03:55
[SPEAKER_04]: I'll tell you this, the people at the top, at the tables, I said that, they all collaborate.
1:04:01
[SPEAKER_04]: We got to make sure that we start collaborating more.
1:04:04
[SPEAKER_01]: Right.
1:04:05
[SPEAKER_01]: And you mentioned, you mentioned generation of wealth when it comes to, like, you know, secure one of these houses and these properties.
1:04:12
[SPEAKER_01]: So, like, how does it, like, as an investor, do you solely focus on affordable housing?
1:04:20
[SPEAKER_01]: Or do you like being that, you know, you could get like a line of credit against those properties?
1:04:25
[SPEAKER_01]: And do you invest into other things, maybe some commercial real estate, or jump into other things?
1:04:30
[SPEAKER_01]: Or do you strictly focus on affordable housing?
1:04:33
[SPEAKER_04]: Right now, I'm 100% into affordable housing.
1:04:37
[SPEAKER_04]: There's no mission creep.
1:04:39
[SPEAKER_04]: I love affordable housing, it's the space where you can create a lot of impact, help a lot of people and make a great amount of money for you and your loved ones.
1:04:49
[SPEAKER_04]: I love affordable housing because it's one of the only places in real estate where you can leverage and set up your funding to where you only got put 1% down on the deal, 3% down on the deal.
1:05:00
[SPEAKER_04]: It's a space in real estate where instead of paying 14% interest, 10% interest, 8% interest because you're doing affordable housing, you paying 4% interest, 5% interest, so it deals an easy year to do, so it's so many tools and resources and affordable housing space, and it's such a need to help people and it's such a need in demand, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such a need in the market, and it's such
1:05:22
[SPEAKER_04]: that, you know, for me, it doesn't make sense to even focus on my energy anywhere else.
1:05:26
[SPEAKER_01]: Because you break that down the, like, getting the cheap money from the bank to, uh, to kind of like, you know, the last city's properties, like, and he also to CDFI's too.
1:05:36
[SPEAKER_04]: And CDFI, I mean, you just, you just said it, the CDFI.
1:05:38
[SPEAKER_04]: So when you do affordable housing, remember, y'all, they're giving us tools.
1:05:43
[SPEAKER_04]: The reason they're giving us tools is because we can't make these deals work.
1:05:46
[SPEAKER_04]: without these tools, without these resources, without the cheaper money, without the lower down payments, we can't make these deals work.
1:05:54
[SPEAKER_04]: CDFIs are best friends as banks.
1:05:59
[SPEAKER_04]: They're one of our number one tools as a bank, when we're doing these affordable housing deals.
1:06:04
[SPEAKER_04]: So, you know, the big banks, right?
1:06:05
[SPEAKER_04]: Files Fargo, Bank of America, Chase,
1:06:09
[SPEAKER_04]: You don't want to go there to get the loans for these type of deals more often than not.
1:06:14
[SPEAKER_04]: You want to go to a CDFR.
1:06:17
[SPEAKER_04]: There are bank desh, a community development financial institution and their whole reason, excuse me, for being there, this is a CDFR community development financial institution and no whole reason for being there is to put money.
1:06:34
[SPEAKER_04]: and loans into the community for small business and for things like affordable housing.
1:06:41
[SPEAKER_04]: That's the only reason they're, they get their money most of the times from the bigger banks.
1:06:47
[SPEAKER_04]: The bigger banks give their money to the CDFIs to give loans in the community to help small businesses in the community because those bigger banks got a requirement to do that.
1:06:58
[SPEAKER_04]: There's a law called CRA, Community Reinvestment Act, and those bigger banks get scored on how much money they put into the community under that Community Reinvestment Act.
1:07:08
[SPEAKER_04]: So if those big banks don't give loans in the hood, the loans are small business, they get a low score.
1:07:14
[SPEAKER_04]: Yeah.
1:07:14
[SPEAKER_04]: They can't buy new banks, they can't move across state lines.
1:07:17
[SPEAKER_04]: So the big banks, they like, oh, we got to keep our score high.
1:07:21
[SPEAKER_04]: One of the ways they do that is they give money to CDFUs.
1:07:25
[SPEAKER_04]: The CDFIs are like the middlemen for these big banks.
1:07:27
[SPEAKER_04]: And the whole role in responsibility is to take big bank money and put it into the community.
1:07:32
[SPEAKER_04]: Take big takes federal money, funds from the government and put it into the community.
1:07:37
[SPEAKER_04]: So when you go to talk to them, they talking all mission.
1:07:39
[SPEAKER_04]: They're talking all the housing.
1:07:42
[SPEAKER_04]: And they're also talking about making it easy for you to get loans, making it cheaper for you to get loans.
1:07:48
[SPEAKER_04]: So when you go to them and you tell them you building an affordable housing project,
1:07:53
[SPEAKER_04]: They got loans with money from the government where they can lend it to you for cheaper.
1:07:57
[SPEAKER_04]: They got loans from the big banks, they can lend it to you for cheaper, because they goal is not to make money.
1:08:01
[SPEAKER_04]: Their goal is to hit CRA marks, take government money and put it back into the community.
1:08:07
[SPEAKER_04]: So now you get the loan for 4%, that's not a 8%.
1:08:10
[SPEAKER_04]: Now when you structure the loan with them, they let and you put 1% down, you know, 3% down because they're not there to make money.
1:08:19
[SPEAKER_04]: They're there to create change in the community.
1:08:22
[SPEAKER_04]: There's also a long product look, man, I'm came with gifts today.
1:08:25
[SPEAKER_04]: Listen, there's also a long product that these CDFIs got, although work, that's called a subordinate loan.
1:08:32
[SPEAKER_04]: A subordinate loan's subordinate means behind something else.
1:08:37
[SPEAKER_04]: So these big banks, they give a loan and they put a lien on your property, right?
1:08:41
[SPEAKER_04]: They put a lien on your asset in first position.
1:08:44
[SPEAKER_04]: You know, anytime you get a loan from the big bank, they're in the first position.
1:08:46
[SPEAKER_04]: They lean in you, the property, your assets.
1:08:50
[SPEAKER_04]: Those big banks usually want you to put down something though, too.
1:08:53
[SPEAKER_04]: They want you to put down 20%, right?
1:08:56
[SPEAKER_04]: Put down 30%, put down 15%.
1:08:59
[SPEAKER_04]: And most of us as community developers, Black developers, Brown developers, we ain't got 30%.
1:09:04
[SPEAKER_04]: We ain't got 20%.
1:09:06
[SPEAKER_04]: CDFI's give you a loan that can help side view, not having that 20%, but since it's called a subordinate loan.
1:09:14
[SPEAKER_04]: This morning alone will come in and be in second position and it'll give you another loan for your damn payment.
1:09:22
[SPEAKER_04]: That loan will be behind the banks and no lend you that 20% that you don't have to do the project.
1:09:29
[SPEAKER_04]: Don't lend you that 25% you don't have to do the project as long as it's going to be affordable housing.
1:09:36
[SPEAKER_04]: So real quick, you're doing a million dollar project.
1:09:39
[SPEAKER_04]: The big bank is gonna say all right, we loaned you 700,000.
1:09:42
[SPEAKER_04]: You've got still got to put up 300,000 yourself.
1:09:47
[SPEAKER_04]: Most people ain't got 300K.
1:09:48
[SPEAKER_04]: You go to the CDF file, you get a subordinate loan, they give you 250,000 of that 300K.
1:09:56
[SPEAKER_04]: You give that to the big bank, 250 from the CDF file, and 50,000 from you, like, all right, I got 50,000.
1:10:02
[SPEAKER_04]: I mean, that's how you would chop it up with that subordinate loan and get into the game when you ain't got that 20, 30%.
1:10:08
[SPEAKER_04]: And you could get those from the CDF file.
1:10:12
[SPEAKER_01]: That's a lot of game, that's the thing that people don't know, a lot of people that they definitely don't know that, and it's crazy to see how much incentive there is like, you know, just for investing in affordable housing, like you got tax, tax incentives, and then you also got incentives from the bank too as well, it's crazy.
1:10:33
[SPEAKER_04]: They got to make it happen.
1:10:35
[SPEAKER_04]: It's a major problem going on outside.
1:10:37
[SPEAKER_04]: and where do ones that help solve that problem?
1:10:40
[SPEAKER_04]: I got to tell people a lot of time in affordable housing space.
1:10:43
[SPEAKER_04]: You're not just a developer, you're a problem-solver.
1:10:46
[SPEAKER_04]: True.
1:10:46
[SPEAKER_04]: Like there's a major problem, homelessness problems, racial, wealth, gap problems.
1:10:52
[SPEAKER_04]: You know, gentrification going on, all types of issues in our community around housing, inner affordability, people can't afford to live.
1:10:59
[SPEAKER_04]: People live a sleeping in houses, 15D.
1:11:02
[SPEAKER_04]: Got people sleeping in a car right now, man.
1:11:04
[SPEAKER_04]: People sleeping on the bridges.
1:11:06
[SPEAKER_04]: and they got to do something about it.
1:11:08
[SPEAKER_04]: So that's why they're giving us these tools.
1:11:10
[SPEAKER_04]: They're not doing it because they love us.
1:11:11
[SPEAKER_04]: They like us.
1:11:12
[SPEAKER_04]: They want to be our best friend.
1:11:13
[SPEAKER_04]: They're doing it because they need to saw that problem.
1:11:15
[SPEAKER_04]: And they can't do it without us.
1:11:17
[SPEAKER_04]: Right.
1:11:17
[SPEAKER_01]: Yeah, I was going to add, too, because just was curious on the numbers, too, when it comes to affordable housing, being that is not like your typical traditional real estate.
1:11:29
[SPEAKER_01]: How does it work once a month with expenses and the cash flow?
1:11:34
[SPEAKER_01]: How does that work?
1:11:35
[SPEAKER_01]: And where does the profit come in on a month or month basis?
1:11:39
[SPEAKER_04]: So on the home sale side, you're gonna make money, you know, you're gonna get a house for $1, $9,000, $10, $500, way less than what is worth, you're gonna put $100,000 in the construction, you're gonna be $100,000 in $1,000 in, plus some interest, you're gonna sell it for 180, yeah, even though the house is on that block, a selling for $350, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,000, $1,
1:12:02
[SPEAKER_03]: Okay.
1:12:03
[SPEAKER_04]: You make $80,000 gross.
1:12:06
[SPEAKER_04]: The buyer gets a house for 180 that's worth 350 or 320, they get $150,000, $120,000 in equity.
1:12:15
[SPEAKER_04]: It's a win-win for everybody.
1:12:17
[SPEAKER_04]: So you always are going to be in a situation when you do the right deal, where you selling it for less than what is worth, and you making a solid profit for yourself.
1:12:25
[SPEAKER_04]: You're always going to make something nice and a person buying it is always going to get some equity when you structure it and you're doing the right deals.
1:12:31
[SPEAKER_04]: On the cash flow side, when you've written these properties, you won't get the property for nominal fees.
1:12:37
[SPEAKER_04]: You're going to get construction money.
1:12:39
[SPEAKER_04]: Remember, though, get construction money is going to be a lot easier.
1:12:42
[SPEAKER_04]: You got a lot of tools, lines of credit you could get because there's a affordable housing, grant money you could get because there's a affordable housing, all these tax credits, all these weapons that you can do lower down payments.
1:12:53
[SPEAKER_04]: And you're still only going to be into the project for not much money in comparison if you were in a border for a nominal fee.
1:12:59
[SPEAKER_04]: So when you go to refinance and get that mortgage, the mortgage is going to be for way less than what it would have been.
1:13:06
[SPEAKER_04]: If you were buying the property at a regular price.
1:13:09
[SPEAKER_04]: So this I'm called debt service coverage ratio, DSCR.
1:13:14
[SPEAKER_04]: And this is a major thing that you need to understand when you're doing rentals.
1:13:18
[SPEAKER_04]: Your debt service coverage ratio basically just tells you how much money you're making at the expenses.
1:13:24
[SPEAKER_04]: Rent comes in, expenses go out.
1:13:26
[SPEAKER_04]: You got your NOI.
1:13:28
[SPEAKER_04]: That's how much money you're making after you expenses, and then you got your mortgage.
1:13:33
[SPEAKER_04]: As soon as you're how much money you're making over your mortgage, 1.25 times your mortgage is the minimum.
1:13:39
[SPEAKER_04]: You always want to make at least 1.25 times more than what your mortgage is.
1:13:43
[SPEAKER_04]: So if your mortgage is $1,000, after all your expenses, you want to be making $12.50.
1:13:48
[SPEAKER_04]: You have to all expenses.
1:13:50
[SPEAKER_04]: You're at 1.25 times your mortgage, but in affordable housing,
1:13:55
[SPEAKER_04]: Your mortgage is a lot lower because you bought for a lot lower.
1:13:58
[SPEAKER_04]: So your exit is a lot smaller.
1:14:00
[SPEAKER_04]: Now your mortgage is less than half of what it would have been.
1:14:03
[SPEAKER_04]: So your mortgage is here and your money at the expenses is here.
1:14:07
[SPEAKER_04]: So you've got a nice cash flow, a nice cash flow, your debt service, that service coverage ratio was 2.0.
1:14:14
[SPEAKER_04]: You're making 2 times more your mortgage to 25 or 2.5 times your mortgage, which is way harder than that minimum 1.25 you need.
1:14:22
[SPEAKER_02]: So I was going to ask too, so you can also sell the property after you build it up, you renovate it, you fix it for a cheaper cost, or you have to fix it and rent it.
1:14:37
[SPEAKER_04]: It's both.
1:14:38
[SPEAKER_04]: You've got flips that you buy in self, a home ownership program, so like right now, my city's focus and big on home ownership, which I love with a playing field, make sure that people own quality houses, houses with equity in them.
1:14:51
[SPEAKER_04]: So a lot of them, what we're doing is we're selling the houses at the end.
1:14:55
[SPEAKER_04]: But then we also do rental programs and we rent them at the end.
1:14:59
[SPEAKER_04]: Down in Wilmington, Delaware right now, they got a huge issue with rental affordability.
1:15:04
[SPEAKER_04]: So a lot of those projects are rentals.
1:15:06
[SPEAKER_04]: Right, here in New York, they got a major problem with rental affordability.
1:15:09
[SPEAKER_04]: A lot of y'all projects are being geared towards rental.
1:15:12
[SPEAKER_04]: There's not a one or the other thing.
1:15:14
[SPEAKER_04]: It really depends on what you need is, where you live.
1:15:17
[SPEAKER_04]: But also, even regardless is always both that's needed.
1:15:20
[SPEAKER_04]: So you can sell it or rent it.
1:15:25
[SPEAKER_04]: Mmm.
1:15:25
[UNKNOWN]: Wow.
1:15:25
[SPEAKER_01]: And that's a lot of game, you know, I mean a lot of game in this episode.
1:15:31
[SPEAKER_02]: Exactly, and it makes it makes it easier for a person to be able to get into the real estate investing game.
1:15:37
[SPEAKER_02]: You know what I mean?
1:15:39
[SPEAKER_02]: A lot of times this, they may say, I don't got the money, but I know I want to do this.
1:15:43
[SPEAKER_02]: You know, I want to do this, I want to do that, but I don't have the money, I don't have the knowledge, I don't have the experience.
1:15:48
[SPEAKER_02]: all the rubatos and I feel like, you know, this is probably, like, easiest way to get in, you know what I mean versus everything else.
1:15:57
[SPEAKER_01]: Question, why don't you, why do you think, like, most real estate investors or even developers, why don't, like, why don't they involve themselves with affordable housing?
1:16:06
[SPEAKER_04]: Because most people don't know it exists.
1:16:09
[SPEAKER_04]: And we put up these ads and what telling people about this opportunity.
1:16:13
[SPEAKER_04]: First and foremost, why are we telling people about this opportunity?
1:16:15
[SPEAKER_04]: Because it's such a need that is no way to solve it without everybody getting involved.
1:16:20
[SPEAKER_04]: We try and build 30,000 homes in my city right now for affordable housing.
1:16:24
[SPEAKER_04]: Last year, we cracked like a thousand.
1:16:26
[SPEAKER_04]: So it's another 29,000 as needed.
1:16:28
[SPEAKER_04]: We try to build 10 million homes all across this country plus of affordable housing.
1:16:36
[SPEAKER_04]: So, most people don't know anything about it, so they're not getting involved with it.
1:16:40
[SPEAKER_04]: A lot of people are skeptical when they hear about it, because it sounds too good to be true while you're buying houses for a dollar.
1:16:47
[SPEAKER_04]: This is really going on.
1:16:48
[SPEAKER_04]: We're showing people this dough so that people can be a part of it.
1:16:52
[SPEAKER_04]: And you mentioned something that I wanted to touch on real quick dough, too.
1:16:55
[SPEAKER_04]: This is an easier path for a lot of people to get into the housing game, the development game, because
1:17:02
[SPEAKER_04]: A lot of us don't have 30%, a lot of us don't have 20% a lot of us don't have 50K to put down on a project and get us all these different strategies that people do, but this is like a pure strategy that's backed by the government.
1:17:15
[SPEAKER_04]: Right.
1:17:15
[SPEAKER_04]: There's a brother.
1:17:16
[SPEAKER_04]: His name is Don Peoples, I want you to check him out.
1:17:20
[SPEAKER_04]: He got a book called People's Principles.
1:17:21
[SPEAKER_04]: I probably know the brother.
1:17:23
[SPEAKER_04]: One of the largest black real estate developers in the country.
1:17:26
[SPEAKER_04]: He has a book called People's Principles, check it out.
1:17:29
[SPEAKER_04]: He talks about how this strategy in doing public private partnership, partner with the government to build affordable housing, to come from being nothing going on in a real estate space to being a multi-millionaire, acquiring big huge buildings in downtown Washington, D.C.
1:17:45
[SPEAKER_04]: But is he a billion?
1:17:46
[SPEAKER_04]: He's a strategy.
1:17:47
[SPEAKER_04]: Yeah, and a brother's a billion, yeah, okay.
1:17:49
[SPEAKER_04]: He uses this exact strategy.
1:17:50
[SPEAKER_04]: He does this exact framework, and he's exact tools and structures that I'm talking about.
1:17:56
[SPEAKER_04]: on the project that he's done, but he's been doing this since the 90s.
1:18:01
[SPEAKER_04]: This is not new stuff.
1:18:02
[SPEAKER_04]: This has been going on.
1:18:04
[SPEAKER_04]: We're just now starting to hear about it and learn about it.
1:18:07
[SPEAKER_04]: People have been doing these strategies since decades ago.
1:18:10
[SPEAKER_04]: No, this is new information to a lot of us, but just because it's new, you know, doesn't mean or something that you never heard of before doesn't mean it's not something that's going on.
1:18:20
[SPEAKER_04]: We want to make sure people know what's going on so that community developers can be a part of it.
1:18:25
[SPEAKER_04]: Because when you want to change a community for the better, you better make sure that people from the community got some say in it.
1:18:31
[SPEAKER_04]: You know that people from the community are leading it.
1:18:33
[SPEAKER_02]: that's why we try and get people from the community involved right that's definitely true because I've heard you know don't people's on you know his biggest what took him I think if I'm not mistaken what took him the billionaires status is because
1:18:49
[SPEAKER_02]: You know, he partners a lot with the government, you know what I mean?
1:18:52
[SPEAKER_02]: And then I think around the time when we had transition from one president to our current president down Trump, I think there was some, I forgot what it was, what the conversation was, but there was problems with certain, you know, programs, we're going away and things like that.
1:19:09
[SPEAKER_02]: And, you know, basically the government programs is what really helped me get to the next level.
1:19:16
[SPEAKER_02]: But I did have a question too, you know, like, there's these big companies like Black Rock or, you know, is it Vanguard too, is it another?
1:19:26
[SPEAKER_02]: No, Black Rock, Black Rock, Black Rock, and imitation of homes, like other people.
1:19:30
[SPEAKER_02]: So, like, how British, yeah, you know what I mean?
1:19:34
[SPEAKER_02]: How come, like, they're not eating up on this lane?
1:19:38
[SPEAKER_02]: You know what I mean?
1:19:38
[SPEAKER_02]: Like, because most of the times that's, that's really, they really crush it, you know?
1:19:43
[SPEAKER_02]: So, because they have the money too.
1:19:46
[SPEAKER_04]: is not just the money, and that's a part of what makes this very powerful for community members who get involved.
1:19:53
[SPEAKER_04]: When you're applying for these properties, these projects, the applications get scored.
1:19:59
[SPEAKER_04]: And one of the biggest parts of the application scoring is community and economic development.
1:20:06
[SPEAKER_04]: How is it helping people from the community?
1:20:09
[SPEAKER_04]: And how are people from the community a part of the project?
1:20:13
[SPEAKER_04]: And those bigger players, they ain't got time or concern to be involved in community members and making sure that neighborhoods are participating, so they just stay away from it.
1:20:23
[SPEAKER_04]: This is not the lane.
1:20:24
[SPEAKER_04]: They don't win cash, cow, large-scale development for luxury projects or projects they got nothing to do with community level activism.
1:20:33
[SPEAKER_04]: So that's not the lane.
1:20:36
[SPEAKER_04]: The ones who are in a node that are in this space, they're not black rocks.
1:20:41
[SPEAKER_04]: They're big players.
1:20:42
[SPEAKER_04]: You got big players that are doing thousands of these at a time.
1:20:46
[SPEAKER_04]: You know, 500,000.
1:20:49
[SPEAKER_04]: 2,000 of these at a time.
1:20:50
[SPEAKER_04]: They're the ones who are dominating in the space, but there's not those big like Wall Street back companies.
1:20:56
[SPEAKER_04]: The big competitive advantage that we have over all of these companies is that we're from the community.
1:21:02
[SPEAKER_04]: When it comes to the scoring, the way these points of scored, minority participation, economic development, all of those community pieces that make up up to 40% sometimes 50% of these applications.
1:21:14
[SPEAKER_04]: We scored air easy.
1:21:16
[SPEAKER_04]: We're from the community in the community and got connections with the community here And so a lot of us got way more strength than we've realized and what happens is these bigger players They come in and then they partner With black feces brown feces.
1:21:30
[SPEAKER_04]: I ain't saying this you know, I'm not I'm not knocking knocking them a time making a city is but
1:21:37
[SPEAKER_04]: They know what they need us, and so in that is a lot of power, all we got to do is learn how to do the paperwork though.
1:21:46
[SPEAKER_04]: Most of us don't know how to do this paperwork, but what teaching do these programs and this work that we're doing is what teaching our people how to do it, how to do the paperwork.
1:21:54
[SPEAKER_04]: Once we know the paperwork, we can throw the paperwork as game over.
1:21:59
[SPEAKER_01]: This is a lot of game, and just like, just to sum up everything, so somebody, you know, they're probably going to be watching this and they're going to be like, all right, I got all this information now.
1:22:11
[SPEAKER_01]: What's the first step?
1:22:12
[SPEAKER_01]: You know, so what would be your advice to them on somebody who's watching this?
1:22:16
[SPEAKER_01]: No properties in hand.
1:22:19
[SPEAKER_01]: You know, they might have a decent credit score, but not a lot of cash in hand, like what would be their first step to jumping into this space?
1:22:27
[SPEAKER_04]: Education.
1:22:29
[SPEAKER_04]: You know, a lot of times is not what we don't have.
1:22:31
[SPEAKER_04]: Don't worry about the cash.
1:22:33
[SPEAKER_04]: worry about the knowledge, worry about the information is not what we don't have a lot of time is what we don't know.
1:22:38
[SPEAKER_04]: You know, I got countless mentees that didn't have any money or had some hurdles and obstacles been incarcerated, nothing about real estate.
1:22:47
[SPEAKER_04]: They are doing this, y'all come to the biggest thing, you got to commit to learning and educating yourself and how this actually works and how this goes, how to fill out these applications, how to fill out this process.
1:23:00
[SPEAKER_04]: so that you could do it too, because once you got that down getting the money is the easy part.
1:23:04
[SPEAKER_04]: Once you got that down, regardless of your background, you can get into the game.
1:23:08
[SPEAKER_04]: It's just sitting down, buckling and down, spinning the time to learn it so that you could do it and be a part of it too.
1:23:15
[SPEAKER_01]: I'm excited.
1:23:16
[SPEAKER_01]: I'm excited for anybody watching this, you know, I got a lot of game from this.
1:23:21
[SPEAKER_01]: Like this is this is something that you like I never do all the people we had of that that was in real estate.
1:23:27
[SPEAKER_01]: You know why these ever spoke on this, you know what I mean?
1:23:28
[SPEAKER_01]: So to hear you come in and really like openly give out the game.
1:23:33
[SPEAKER_01]: It's crazy, it's crazy to see.
1:23:35
[SPEAKER_02]: and actually broken down because I've heard people say yo, I bought properties for a dollar, especially places like Baltimore, you know, places throughout New Jersey, but it's like, you never really know.
1:23:48
[SPEAKER_02]: You know what I mean?
1:23:49
[SPEAKER_02]: Like, what's the real, the back end, the logistics, how it's done, you know, what to do, where to go, how to do it, all that stuff.
1:23:56
[SPEAKER_02]: So,
1:23:56
[SPEAKER_04]: and a lot of people too when they talk about those properties and Baltimore because I get those as a reference a lot, right?
1:24:02
[SPEAKER_04]: People always say, oh, you're getting them for dollar because they messed up, but you're getting them for dollar because they're not worth nothing.
1:24:09
[SPEAKER_04]: you're using the strategy the wrong way if you're thinking that way.
1:24:12
[SPEAKER_04]: We're getting houses for nominal fees, land for nominal fees and good areas where this housing is needed.
1:24:19
[SPEAKER_04]: You know, that brother down people's, he got a high rise office building and downtown DC, you know, using the strategy.
1:24:27
[SPEAKER_04]: We're going at the areas where this is needed, right?
1:24:31
[SPEAKER_04]: And it's not properties that just bend those that should be not down to the ground.
1:24:35
[SPEAKER_04]: These are like quality properties with a lot of upside volume.
1:24:39
[SPEAKER_02]: and areas that need affordable housing and initially that's what I thought it was that was my first start when I heard about him like it's probably a you know a house where the roof is probably blown off you know the back walls is gone you know that's what I thought it was but again you know you educated us on that side it kind of make me think too because I'm like
1:25:00
[SPEAKER_01]: Is this, is this possibly why some not to say, but like some some races like they they dominate certain fields like in New York like It's like I'll be honest like a lot of like the the Jewish people they they own a lot of the real estate out here and it's been that way for years so they probably been on that they probably have been hit to the game for years so now when you go to Brooklyn and things like that you'll see somebody's old houses, old properties and they all they own all of them
1:25:29
[SPEAKER_01]: You know, so it will be nice to definitely have, you know, some of a lot of people in the game, a lot of people owning some of these properties and really like being on that ownership side.
1:25:40
[SPEAKER_04]: 100% being on that business side, the trillion dollar side, residential real estate jobs, a 43 and a half trillion dollar market with a T, 43 and a half trillion dollars.
1:25:53
[SPEAKER_04]: Every last one of our cities, this is the thing I just want to emphasize to y'all and close out.
1:25:57
[SPEAKER_04]: Every last one of our city's township's counties got a problem with affordable housing.
1:26:03
[SPEAKER_04]: I don't care if you're in Maine, I don't care if you
1:26:09
[SPEAKER_04]: There's a problem with affordable housing.
1:26:12
[SPEAKER_04]: And people have been at these tables, taking these contracts, these trillions of dollars in contracts, and it just hasn't been us because we haven't known about it.
1:26:23
[SPEAKER_04]: Every last one in y'all in y'all cities in y'all states, y'all got in a affordable housing coalition, y'all got a state housing agency.
1:26:30
[SPEAKER_04]: There's big conferences every single year that's all about affordable housing, and the biggest players in the state show up.
1:26:37
[SPEAKER_04]: going to those rooms and see if we're there.
1:26:41
[SPEAKER_04]: If we're there, respectfully, a lot of times we're in employee that works for somebody.
1:26:46
[SPEAKER_04]: I need one hand to count how many brothers, I mean, sisters are doing these $100 million dollars.
1:26:52
[SPEAKER_04]: So all of that money is literally not coming into our community.
1:26:56
[SPEAKER_04]: And so
1:26:58
[SPEAKER_04]: We changing that.
1:26:59
[SPEAKER_04]: That's what we don't hear.
1:27:01
[SPEAKER_04]: That's what we, that's what we don't with our Bobbac, the block community.
1:27:05
[SPEAKER_04]: It's all about teaching developers from the community to lead the change that we want to see in our communities.
1:27:11
[SPEAKER_02]: Yeah.
1:27:12
[SPEAKER_02]: Two things before I arrived, you know, when we went throughout this podcast, you
1:27:16
[SPEAKER_02]: What I thought about them like group economics could really, really work in a situation like this.
1:27:22
[SPEAKER_02]: You know what I mean?
1:27:23
[SPEAKER_02]: Imagine three of us all friends where we probably may grow up together.
1:27:28
[SPEAKER_02]: Next to you, you know, we buy on a whole block together.
1:27:31
[SPEAKER_02]: You know what I mean?
1:27:32
[SPEAKER_02]: We buy in acres and acres of land, and we build them up, and we come together and break and bread like that.
1:27:38
[SPEAKER_02]: You know what I mean?
1:27:39
[SPEAKER_02]: literally.
1:27:40
[SPEAKER_02]: That was the first thing that came to mind.
1:27:42
[SPEAKER_02]: The second thing that came to mind too I'm like shit imagine a business owner you know at the end of the year you have to spend money on taxes You know I mean it's either you don't spend the money and pay back the IRS or you could take your money and just invest in a real estate You know that mean buy affordable homes
1:27:59
[SPEAKER_02]: And now I'm boom, your business is cash flow.
1:28:02
[SPEAKER_02]: You know, you making money every year, you know what I mean?
1:28:04
[SPEAKER_02]: So those are the two things that really, really, you know, played in my mind throughout this podcast because I'm like, you know, the barrier to entry is so easy but like, stoolble, you know?
1:28:15
[SPEAKER_02]: is doable.
1:28:16
[SPEAKER_04]: Every last, every last one of y'all can do this too.
1:28:19
[SPEAKER_04]: Everybody can do it if you equip with understanding how to do it.
1:28:23
[SPEAKER_03]: Yeah.
1:28:25
[SPEAKER_04]: That's what's in that.
1:28:26
[SPEAKER_04]: And in my departure, I want to make sure that I leave y'all, y'all, y'all members.
1:28:32
[SPEAKER_04]: Everybody that locked them with us throughout this motion and success podcast.
1:28:36
[SPEAKER_04]: I want to make sure that we leave y'all with something that's going to help y'all to get into the game of affordable housing because, honestly, we need y'all.
1:28:44
[SPEAKER_04]: So I want to provide y'all with some free resources that's going to help y'all to understand the affordable housing space, how it works so that you can speak the language so that you can get involved in this too.
1:28:55
[SPEAKER_04]: So I want to provide you with a free e-book that's going to break down all the terms and definitions so that you can speak the language of affordable housing.
1:29:03
[SPEAKER_04]: I also want to provide y'all with
1:29:06
[SPEAKER_04]: a free CDFI funding guide.
1:29:09
[SPEAKER_04]: Y'all Herman talk about getting these loans and how we only have to put down 1% or we pay cheaper interest rates to be able to make these deals work or how we get these loans that cover our down payments from CDFI's.
1:29:21
[SPEAKER_04]: I wanna give y'all free ebook that's gonna break that all down.
1:29:23
[SPEAKER_04]: So y'all can understand how to go into the doors of these CDFI's and get this funding so that you can buy back your block and rebuild your neighborhood too.
1:29:33
[SPEAKER_04]: All you gotta do is text the word dollar
1:29:36
[SPEAKER_04]: D-O-L-L-L-A-R dollar to $215-602-4078.
1:29:43
[SPEAKER_04]: Again, text dollar to $215-602-4078.
1:29:50
[SPEAKER_04]: And in the meantime, between time two, make sure you follow me, J.P.D.
1:29:54
[SPEAKER_04]: for Rini on Instagram.
1:29:55
[SPEAKER_04]: There's a lot of game and knowledge and information that we share over there because...
1:30:00
[SPEAKER_04]: just still a lot more work to do y'all.
1:30:02
[SPEAKER_04]: This housing crisis is huge and in order for us to be able to take chips at it and make sure that we're leading it and being a part of it we got a lot of work to do when a lot of information is shared so I appreciate y'all having me here to share.
1:30:16
[SPEAKER_02]: Appreciate you as well man this was another episode of Motionist Success Man.
1:30:20
[SPEAKER_02]: Listen guys.
1:30:21
[SPEAKER_02]: I enjoy this podcast definitely you know because it gives us the opportunity to say listen There's a chance to go out there and make things shake.
1:30:28
[SPEAKER_02]: So go ahead like comment share subscribe Also shoot J.P. A follow on Instagram as well.
1:30:36
[SPEAKER_02]: Listen guys.
1:30:37
[SPEAKER_02]: I definitely check you guys out on the next episode peace