Latest / Inside The Vault with Ash Cash / ITV #244: The Government Sold Him a $1 House... and He Built a Million-Dollar Empire | Inside The Vault

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ITV #244: The Government Sold Him a $1 House... and He Built a Million-Dollar Empire | Inside The Vault · Inside The Vault with Ash Cash

0:00
[SPEAKER_01]: And they literally came to me.
0:01
[SPEAKER_00]: They were like, oh, we want to sell you these eight houses, the eight dollars.
0:04
[SPEAKER_00]: Word.
0:07
[SPEAKER_00]: The reason why there's a wealth gap is because there wasn't the opportunity to buy real estate.
0:12
[SPEAKER_00]: We just kind of learned it from the muscle.
0:14
[SPEAKER_01]: I want to one trade school and one to another trade school.
0:18
[SPEAKER_01]: Right a bunch of books.
0:19
[SPEAKER_01]: I've won 30 under 30, 40 under 40.
0:21
[SPEAKER_01]: How did you transition from construction to real estate developer right now?
0:29
[SPEAKER_01]: affordable home.
0:30
[SPEAKER_01]: And the government is too big, too slow, too expensive and takes too long to do it on their own.
0:35
[SPEAKER_01]: Quick example, I bought 23 houses for $23.
0:38
[SPEAKER_01]: It's worth $100,000 a piece.
0:41
[SPEAKER_00]: And is this only in Philadelphia?
0:42
[SPEAKER_00]: This is all around the country.
0:44
[SPEAKER_00]: I know somebody watching taking notes.
0:47
[SPEAKER_00]: You're this sound too good to be true, my G, like anybody can do it.
0:51
[SPEAKER_01]: I could be doing the same thing as well.
0:53
[SPEAKER_01]: Most of us don't know.
0:55
[SPEAKER_01]: Or a lot of times it ain't what we didn't have is what we didn't know.
0:57
[SPEAKER_01]: And that they would just solve a problem.
0:59
[SPEAKER_01]: And we'd be in solutions for housing.
1:01
[SPEAKER_01]: Yeah, and the government's giving us properties for the love.
1:04
[SPEAKER_01]: Are there any negative sides of getting into this?
1:08
[SPEAKER_01]: Honestly, brother.
1:13
[SPEAKER_00]: I know you want to watch this next video, but listen, if you are an entrepreneur, business coach, business consultant, or a small business owner who has a story and wants to learn how to create multiple strings of income from your story.
1:26
[SPEAKER_00]: I need you to text me right now.
1:28
[SPEAKER_00]: My book.
1:29
[SPEAKER_00]: to six, four, six, six, six, eight, seven, four, one, five, two.
1:32
[SPEAKER_00]: That is my personal number.
1:34
[SPEAKER_00]: I have been an author for over 12 years.
1:36
[SPEAKER_00]: I've written 10 books, four of them have been best sellers, and I've sold over 100,000 books.
1:41
[SPEAKER_00]: But I've also helped a lot of my clients, take their expertise and put it into a story, then create multiple streams of income from that.
1:49
[SPEAKER_00]: So I wanna help you do the same thing.
1:51
[SPEAKER_00]: So text my book to six, four, six, six, eight, seven, four, one, five, two.
1:56
[SPEAKER_00]: I, let's go back to the video.
2:14
[SPEAKER_00]: All right, so welcome to another awesome episode of Inside The Vault with Ash Cash, the greatest money mindset show on the planet today's guest proves that your starting point doesn't determine your finish line.
2:27
[SPEAKER_00]: He started building from the trunk of his family's car and turned that house into a real estate.
2:33
[SPEAKER_00]: empire that's transforming neighborhoods and creating opportunities for generations.
2:39
[SPEAKER_00]: But what makes his story powerful isn't just the buildings he's developing, it's the systems he's built to create wealth, ownership, and impact simultaneously.
2:50
[SPEAKER_00]: He's in a ward winning real estate developer build their entrepreneur at community leader who's developing affordable housing training the next generation of trades people and showing the real estate is it just about buying property It's about rebuilding communities and changing family legacies if you ever wanted to know how to go from working in the business
3:14
[SPEAKER_00]: to owning assets that produce wealth for decades, you are going to want to watch this episode all the way through.
3:21
[SPEAKER_00]: Ladies and gentlemen, my brother, J.P. for reading in the bill.
3:25
[SPEAKER_00]: What's up, brother?
3:25
[SPEAKER_00]: Go, let's go, man.
3:27
[SPEAKER_01]: I appreciate the introduction, brother.
3:29
[SPEAKER_01]: Yes, I appreciate the energy, I appreciate the opportunity coming to that.
3:32
[SPEAKER_01]: Yes, sir.
3:33
[SPEAKER_01]: It's such a community.
3:34
[SPEAKER_00]: Yo, man, so the thing for me, man, is that a lot of people don't realize how
3:40
[SPEAKER_00]: how much real estate is equalizer, if you will, as it relates to wealth even, right?
3:46
[SPEAKER_00]: So I think a lot of people don't realize that when we talk about even wealth gaps in the black and brown community, or the reason why there's a wealth gap is because there wasn't the opportunity to buy real estate, right?
3:59
[SPEAKER_00]: And so what you're doing is commendable and you know, we'll talk about all of that because you've been in this business for over 21 years, you know, you're you're doing doing doing some big projects, what you're doing is
4:20
[SPEAKER_00]: If they give they they they can't get right, but the fact that you're doing both and so I want to talk about Realistic I want to my wealth builder.
4:27
[SPEAKER_00]: I want to talk about the system.
4:28
[SPEAKER_00]: I want to talk about all the stuff that you got going on But for those who don't know who is JP for any so JP for any
4:37
[SPEAKER_01]: I mean, honestly, man, I always consider myself the underdog, yeah, even though these days I've been blessed, man.
4:42
[SPEAKER_01]: I've been fortunate.
4:43
[SPEAKER_01]: You know, I grew up in Philadelphia.
4:45
[SPEAKER_01]: You know, came from some obstacles or hurdles raised by a single mother, you know, then have a father figure in my life.
4:52
[SPEAKER_01]: Had to fill in and grind and scrape just to get by.
4:56
[SPEAKER_00]: Yeah.
4:56
[SPEAKER_01]: You know, J.P. Frini is also somebody's not, you know, not perfect, man.
5:00
[SPEAKER_01]: I'm flawed.
5:01
[SPEAKER_01]: I've learned from a bunch of different mistakes along the way.
5:04
[SPEAKER_01]: But J. P. Ferrini is a survivor.
5:07
[SPEAKER_01]: Yeah, yeah.
5:08
[SPEAKER_01]: Persevera, and somebody else is stuck with growing myself in the construction space.
5:14
[SPEAKER_01]: I've been in the construction industry for over 21 years now.
5:18
[SPEAKER_01]: Browser, unorthodox.
5:19
[SPEAKER_01]: Yeah, well, I ain't had a grand father or a father.
5:23
[SPEAKER_01]: Anybody that was in the business, we just kind of learned it from the muscle.
5:27
[SPEAKER_01]: I want to one trade school and one to another trade school.
5:30
[SPEAKER_01]: Yeah, right a bunch of books.
5:32
[SPEAKER_01]: and grew in the construction space, now I'm a nationally awarded tradesmen.
5:36
[SPEAKER_01]: I've won 30 under 30, 40 under 40, person out of year.
5:40
[SPEAKER_01]: I'm talking about from some of the largest construction associations in the country, national association, the home builders.
5:47
[SPEAKER_01]: national kitchen and bath association, you know, in the real estate space, same thing, you know, just been grinding it out and the beginning is learning, real estate, the untraditional way reading some books, eventually getting some mentors, I've been in the space for over 15 years, fast forward.
6:05
[SPEAKER_01]: I sit on some of the biggest boards in the country with the National Association of Home Builders, with the Builder Industry Association of Philadelphia, my peers, my colleagues, we putting up hundreds of millions of dollars of real estate in the process.
6:19
[SPEAKER_01]: I've won all types of awards and accolades and I've been in magazines, I've been on stages for this real estate development stuff.
6:26
[SPEAKER_01]: But at the end of the day, man, I'm really just serving.
6:30
[SPEAKER_01]: Yeah.
6:31
[SPEAKER_01]: Like, I've got to believe that you keep the blessing by sharing the blessing, right?
6:35
[SPEAKER_01]: So all these, all, I told my story because I want, I want everybody to understand that trajectory.
6:40
[SPEAKER_00]: Yeah.
6:41
[SPEAKER_01]: But I also want people to understand why I'm so passionate about sharing in these blessings like I started all from these rough situations over came or who would I be to not turn around and share with other individuals that's trying to overcome situations themselves.
6:55
[SPEAKER_01]: So servant man, community leader, educator, industry disrupter, kicking doors down, we knocking down barriers for people that look like us.
7:05
[SPEAKER_00]: Yeah.
7:05
[SPEAKER_01]: So make sure that.
7:06
[SPEAKER_01]: We're not the only ones at the table, right?
7:09
[SPEAKER_01]: You know, we in the rooms, we got into the rooms, we got to the tables, and I'm bringing her as many people as I can with me.
7:15
[SPEAKER_01]: That's what we're doing, that's what I'm about.
7:16
[SPEAKER_00]: Yeah, I mean, so I love your passion.
7:19
[SPEAKER_00]: I love, you know, everything about it.
7:21
[SPEAKER_00]: And I think that one of the things you said that I want to highlight,
7:25
[SPEAKER_00]: Is that like you didn't have a grandfather in the business you know I'm saying because I know when I think about construction You know, I think about lineage.
7:34
[SPEAKER_00]: I think about you know, you know people who have their you know They it's in their family didn't happen, you know, and then it gets passed down and the children do it and things in that nature How's you getting into construction like how like like what what gave you the idea that says yo.
7:50
[SPEAKER_00]: I'm gonna I'm gonna start like
7:53
[SPEAKER_00]: First of all, like, I don't even think it's a real estate journey because it, like, like, what made you say, you're almost, I'm a start with construction survival.
8:01
[SPEAKER_01]: Yeah, it was really, it was really simple, like, my mother.
8:05
[SPEAKER_01]: She had a boyfriend that did handyman service stuff.
8:08
[SPEAKER_01]: It was making some money to make ends meet.
8:10
[SPEAKER_01]: Keep a roof over our head.
8:12
[SPEAKER_01]: Yeah.
8:12
[SPEAKER_01]: Why are you all in Chicago?
8:14
[SPEAKER_01]: No, I got multiple siblings.
8:16
[SPEAKER_01]: I mean, my mother, my brother, I got two brothers in the sister.
8:19
[SPEAKER_01]: I got a whole bunch of other sisters.
8:21
[SPEAKER_01]: My father, he's making so, you know, I got a bunch of sisters I've been in.
8:24
[SPEAKER_01]: Sure.
8:27
[SPEAKER_01]: it was really like a means of survival.
8:29
[SPEAKER_01]: Yeah, mother had a boyfriend that was doing handyman stuff.
8:34
[SPEAKER_01]: She was helping them.
8:34
[SPEAKER_01]: You were kind of helping learning in the process when we was teenagers.
8:37
[SPEAKER_01]: Yeah.
8:38
[SPEAKER_01]: And then, you know, that relationship ended and it was just like, we still got to do something to survive.
8:43
[SPEAKER_01]: Yeah.
8:43
[SPEAKER_01]: And so the handyman company was was making ends meet.
8:47
[SPEAKER_01]: So,
8:48
[SPEAKER_01]: We loaded up my brothers, uh, Christ's a 200C, but a bucket full of tools from the pulling shot.
8:53
[SPEAKER_01]: Yeah.
8:54
[SPEAKER_01]: And started passing off flyers and started just doing repair services, literally learning how to do them as we were doing, you know, just reading and, and, and, and, and looking things up and researching, uh, and, and there was an opportunity that was born, like in construction.
9:09
[SPEAKER_01]: Yeah.
9:09
[SPEAKER_01]: And.
9:10
[SPEAKER_01]: Eventually we're seeing okay, it's something here.
9:12
[SPEAKER_01]: Yeah.
9:13
[SPEAKER_01]: My mother went back and got more educated in design.
9:17
[SPEAKER_01]: My brother locked in on the design piece too.
9:19
[SPEAKER_01]: Yeah, me.
9:21
[SPEAKER_01]: It was more to hands on.
9:22
[SPEAKER_01]: Yeah, I want that to school for electrical.
9:25
[SPEAKER_01]: Eventually, I'm graduating from where like a vocational certification.
9:30
[SPEAKER_01]: But when I graduated and I got some education and construction, I seen how we started making more money.
9:35
[SPEAKER_01]: So then I went back, eventually becoming, I'm getting carpentry certifications.
9:40
[SPEAKER_01]: I went back, became a licensed master of electrician.
9:43
[SPEAKER_01]: I went back, I'm got a certification and construction management at Temple University.
9:47
[SPEAKER_01]: I went back, became an authorized OSHA train.
9:49
[SPEAKER_01]: I went back, became a licensed realtor.
9:52
[SPEAKER_01]: I just kept building, because I've seen every time I went back and did some training.
9:55
[SPEAKER_01]: I didn't even get building.
9:57
[SPEAKER_01]: Every time I added a piece of paper or some sort of plaque any matter if it was a one week training or non-month certificate My life got better my family's life got better and so I just kept learning on orthodox Lee going to school and then going out and doing it Yeah, and the money kept stacking up opportunity kept growing and that's where that
10:17
[SPEAKER_01]: that career construction was built.
10:19
[SPEAKER_00]: Yeah, yeah.
10:20
[SPEAKER_00]: How did you transition from construction to now real estate developer, right?
10:26
[SPEAKER_00]: Because I think when you think about real estate, there's so many different ways that you could make money from real estate, right?
10:33
[SPEAKER_00]: You got, you know, you got your fix-in flips, right?
10:36
[SPEAKER_00]: You got your, you know, wholesale, you got your buy-in-home, but when you think about construction,
10:44
[SPEAKER_00]: it's the work of part of it, you know what I'm saying?
10:47
[SPEAKER_00]: It's the person that, you know, you're working for money, right?
10:50
[SPEAKER_00]: You, you know, somebody has somebody else owns the property, um, you know, they hire you, you do the construction or whatever the case may be, um, but at one point did you go from, I'm working in construction, I'm making money, right?
11:04
[SPEAKER_00]: I'm, I'm, I'm the money stacking up, but now I want, I want to get into this, this ownership thing.
11:09
[SPEAKER_01]: No, so just to back up a little bit, right?
11:12
[SPEAKER_01]: So all my life, I've been an entrepreneur.
11:14
[SPEAKER_01]: Yeah.
11:14
[SPEAKER_01]: My mother was an entrepreneur.
11:16
[SPEAKER_01]: My father versus so we was an entrepreneur.
11:19
[SPEAKER_01]: My auntie's everybody was an entrepreneur.
11:20
[SPEAKER_01]: Yeah.
11:21
[SPEAKER_01]: So I never really had a job job.
11:24
[SPEAKER_01]: I worked in McDonald's for like, I think like two days.
11:27
[SPEAKER_01]: I worked in like a nurse at home, gotten some dishes in a dietary for like a week and a half.
11:32
[SPEAKER_01]: So it was always like a hustle.
11:34
[SPEAKER_01]: Your mother was always a hustle.
11:37
[SPEAKER_01]: But when we added in the education, I added in the education, I talk about the construction business growing.
11:43
[SPEAKER_01]: We already owned the business.
11:45
[SPEAKER_01]: And at the beginning, there wasn't anything fancy, but it eventually grew into something big, like the handyman company grew into a nationally awarded kitchen and bath design company on projects for Chef Gordon Ramsay.
11:59
[SPEAKER_01]: magazines, architecture with Dodgers, TV shows, or my electric company, which was just from the muscle grew into a successful commercial electrical contract in company.
12:09
[SPEAKER_01]: I started doing a high rise, development projects, you know, started doing like luxury storefronts down in the city.
12:16
[SPEAKER_01]: And in the midst of doing this,
12:18
[SPEAKER_01]: I'm looking around and everybody owning the buildings.
12:20
[SPEAKER_01]: I own my company.
12:22
[SPEAKER_01]: And I didn't own the building, right?
12:25
[SPEAKER_01]: And I started to see, like, okay, on the real estate side, it's the ownership of an actual asset.
12:32
[SPEAKER_01]: Not just the business, but actual asset.
12:34
[SPEAKER_01]: And if I'm doing it for them, I might as well do it for myself.
12:38
[SPEAKER_01]: And so I started easing into that.
12:40
[SPEAKER_01]: I started easing into that.
12:42
[SPEAKER_01]: But before that happened,
12:45
[SPEAKER_00]: I started realizing like a successful as I was in the construction industry.
12:49
[SPEAKER_01]: I won't start when at 30 in, at 30, 40 under 40, person at a year.
12:54
[SPEAKER_01]: I'm getting flown all around the country.
12:56
[SPEAKER_01]: I'm talking about I'm in the room with the owners of home depot, like burning markets in them, billionaires, 100 millionaires, and in the construction space, I'm in these black Thai gollas and I'm looking around these rooms for all these 100 million dollar construction companies and none of us are there.
13:12
[SPEAKER_01]: There's no black people.
13:13
[SPEAKER_01]: There's no brown people.
13:14
[SPEAKER_01]: Maybe a small, small few.
13:16
[SPEAKER_01]: And a lot of them are coming from the challenges and the struggles that we come from.
13:20
[SPEAKER_01]: Yeah.
13:21
[SPEAKER_01]: So that's where the education piece was born.
13:24
[SPEAKER_01]: That's what I said.
13:25
[SPEAKER_01]: Okay, you know what?
13:26
[SPEAKER_01]: I just want this big award.
13:27
[SPEAKER_01]: I went back to Philly.
13:29
[SPEAKER_01]: I said, let me start teaching people how I became successful in construction.
13:32
[SPEAKER_00]: Yeah.
13:33
[SPEAKER_01]: So we started opening up free training programs.
13:35
[SPEAKER_01]: I have a program called Traids for Difference.
13:38
[SPEAKER_01]: We started training young people in construction and tree.
13:40
[SPEAKER_01]: We started helping brothers come home from prison, get jobs in the construction industry.
13:44
[SPEAKER_01]: We started doing free repairs for seniors, for single mothers that need to help.
13:49
[SPEAKER_01]: And in the midst of that, I was babbling in real estate.
13:53
[SPEAKER_01]: I was there, but then I was doing a project here, doing a project there.
13:57
[SPEAKER_01]: But when I was doing the education stuff and sharing the education, helping people grow the businesses, helping people develop their homes, I came into affordable housing real estate.
14:08
[SPEAKER_01]: I came into real estate while building homes, while providing people with opportunities for quality rentals, and that's when my whole shift in the real estate really happened.
14:19
[SPEAKER_01]: I was out educating the community and construction.
14:22
[SPEAKER_01]: A state rep came to me, the Philadelphia Housing Authority came to me and was like, oh, you teaching people construction and trade, you help the small black and brown businesses grow in construction, you're already doing repairs for people in any homes, how about you start helping provide people with homes they can afford?
14:40
[SPEAKER_01]: And they literally came to me.
14:42
[SPEAKER_01]: And they, they would like you know, we want to sell you these eight houses for eight dollars.
14:46
[SPEAKER_01]: Or, and the thing about these eight houses, brother, this is in the area.
14:50
[SPEAKER_01]: It's called Brewer Town in Philly.
14:52
[SPEAKER_01]: Yeah.
14:52
[SPEAKER_01]: It's a neighborhood that's been getting gentrified.
14:54
[SPEAKER_01]: People getting this place pushed out of the community.
14:57
[SPEAKER_01]: Yeah.
14:57
[SPEAKER_01]: It's going to sell me eight houses.
14:59
[SPEAKER_01]: for $8 plus the state was gonna give me a $100,000 grant that I ain't had to pay back to be able to go tours building these affordable homes.
15:08
[SPEAKER_01]: And these eight houses was worth a hundred thousand a piece was $800,000 worth of houses and I got them for $8.
15:18
[SPEAKER_01]: to be able to build affordable housing plus train young people in construction and hope you get jobs and develop businesses so like my shift instead of real estate piece is started off slow but with the construction and education that's where like the affordable housing working with the government yeah and that's where my real estate career like really kind of
15:38
[SPEAKER_00]: What would you, what would you attribute to that?
15:40
[SPEAKER_00]: That's like the vine, the vine, all of you believe in God and I, but that's like the vine and lime right there, bro.
15:47
[SPEAKER_01]: Listen, like God, God prepared me for this mission for this word.
15:51
[SPEAKER_01]: For sure, I wholeheartedly believe in God and at the end of the day, like God has blessed me to put me in position with the construction.
16:00
[SPEAKER_01]: And with, you know, being passing it about education.
16:03
[SPEAKER_01]: And that led me to service.
16:05
[SPEAKER_00]: Yeah.
16:06
[SPEAKER_01]: And that led me to, I was already doing real estate.
16:08
[SPEAKER_01]: Yeah.
16:09
[SPEAKER_01]: Well, affordable housing broad, real estate with service.
16:11
[SPEAKER_01]: Yeah.
16:12
[SPEAKER_01]: Yeah.
16:12
[SPEAKER_01]: And God has definitely had his hand in it.
16:14
[SPEAKER_01]: So I'm this head just trying to pay the blessing for, like, these type of conversations is all about making people aware and 1,000% when these things are even going on.
16:23
[SPEAKER_00]: Yeah.
16:23
[SPEAKER_01]: And people how to get, you know, involved and how to,
16:26
[SPEAKER_00]: benefit from it and free well for the family and I love it and we're going to talk about that because I love it.
16:31
[SPEAKER_00]: I love the fact that like you like you said like You grew up Like how most of us grew up, right?
16:39
[SPEAKER_00]: Same thing.
16:39
[SPEAKER_00]: I'm the youngest of three single-parent home, you know what I'm saying like I was archipen noises eight years old pack of bags selling mixed tape teachers doing all that so
16:50
[SPEAKER_00]: to be able to build wealth and not just build wealth and be like, yeah, I'm, you know, I made it with to build wealth, like, you know, like, that's why I got this podcast, that's why I do education and all, I write books and things in that nature, or because of that reason to share the knowledge and so.
17:07
[SPEAKER_00]: What is the difference with affordable hot like so from the development side right developing you know you know affordable housing what is the difference between that and all of the other types of real estate for you know I mean because I don't for for instance again you have your you know you have your
17:32
[SPEAKER_00]: uh... but when you talk about affordable housing getting grants uh... you know getting money for the government like break that down is that something is that a path that anybody could take or did j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-j-
17:52
[SPEAKER_01]: if you're passionate about mixing real estate investing with service and impact.
17:58
[SPEAKER_01]: Yeah, I don't call it God's word, honestly, like it's a mission.
18:01
[SPEAKER_00]: Yeah.
18:02
[SPEAKER_01]: If you're passionate about real estate and building wealth and legacy for your families, and you're passionate about giving back in the process, anybody can do it for the Bullhoes.
18:11
[SPEAKER_01]: It's levels to it.
18:12
[SPEAKER_00]: Yeah, yeah.
18:13
[SPEAKER_01]: But you start off at the levels that you add and there's a whole bunch of opportunities.
18:17
[SPEAKER_01]: So affordable housing is fixing flips, affordable housing is large multifamily, affordable housing is single family projects, affordable housing is storefront businesses, affordable housing is, you know, I'm going to see even the service provider businesses.
18:32
[SPEAKER_01]: Like if you've got a passion for working with young aged out foster care kids, or you've got passion helping seniors, or you've got a passion that's, you know,
18:43
[SPEAKER_01]: affordable housing is this big arena of opportunities where you can build houses, rent houses, sell houses, and provide a bunch of services.
18:53
[SPEAKER_01]: The core premise of it, though, is anybody can do it, like anybody here.
18:59
[SPEAKER_01]: But the core premise is, when you're providing affordable housing, you're providing opportunities for home ownership, you're providing opportunities for rental, you know, for people who are housing, you know, different service programs, for people who,
19:15
[SPEAKER_01]: don't have the means to do it or are are caused burden.
19:20
[SPEAKER_01]: Any time somebody spends more than 30% other income on housing and utilities, you cause burden.
19:26
[SPEAKER_00]: That's the premise of affordable housing.
19:28
[SPEAKER_01]: If you spend more than 30% of your income on housing and utilities, you cause burden.
19:33
[SPEAKER_01]: Think about that though.
19:34
[SPEAKER_01]: Yeah, how many people do you know it's been in 50% of the season?
19:37
[SPEAKER_00]: Because as I'm doing the math in my head, I'm like, yo, most people are paying 50% to 60% of what they make, right?
19:46
[SPEAKER_00]: So like you think it's in my, because if I'm doing the math, if somebody, let's just say, oh, and I want to be disrespectful about this thing on a low end, you know, somebody makes.
19:56
[SPEAKER_00]: $3,000 a month, right, because $3,000 a month comes out to about $36,000 a year, $36,000 a year.
20:03
[SPEAKER_00]: I know the average family of four in America, average is like $40,000, you know, is what they make.
20:09
[SPEAKER_00]: So let's just say somebody makes $3,000 a month.
20:12
[SPEAKER_00]: Well, that $3,000 a month, you're telling me that 30% of that is, was it $900?
20:20
[SPEAKER_00]: Who's paying $900 in rent?
20:22
[SPEAKER_01]: We got people out here struggling, right?
20:26
[SPEAKER_00]: a month, most likely their rent is $1500 to $2,000.
20:31
[SPEAKER_01]: You know how people spend in 15% or 50% or more of their household income on housing and utilities.
20:39
[SPEAKER_01]: You know how people spend in more than that.
20:41
[SPEAKER_01]: And so in that is the core need, is the core problem of affordable housing.
20:47
[SPEAKER_01]: People that cause burden, people can't afford to keep roofs over their head, people can't, you know, afford to be able to, you know, have some places warm safe and drive for
20:56
[SPEAKER_01]: and so affordable housing.
20:59
[SPEAKER_01]: are made up of programs and resources and tools from the government and from private developers and the private sector like us to help people that's in those situations to be able to give them some assistance, be able to give them some, you know, resources, some grants, some funds, some some supports, you know, like voucher programs and supports like mortgage programs that will help them to be able to keep a roof over the head and
21:26
[SPEAKER_00]: Yeah.
21:26
[SPEAKER_00]: Yeah.
21:27
[SPEAKER_00]: And, and, and, and so like, where is the, so two questions on my ass, right?
21:32
[SPEAKER_00]: Because you said anybody could get into affordable housing.
21:35
[SPEAKER_00]: Um, where it, like, like, how, number one, how do you, if somebody's just starting out somebody watching this, who wants to get into it,
21:45
[SPEAKER_00]: How do you find the properties and qualified for the properties and then once you get the properties, how do you now get into the affordable housing like what's the order operations like do I do I make sure I got the program first and then I look for the property or do I have a property and I say hey, I have this property, it's eligible or whatever like what's the order operation.
22:11
[SPEAKER_01]: So the first thing you just got understand right when we talking about all these things I'm getting ready to talk about right how you find them how much we paying for them the biggest thing to understand is that
22:23
[SPEAKER_01]: We are solving problems by doing this work.
22:26
[SPEAKER_01]: And the government will sell us properties for low calls, give us grants, give us special financing, and a whole bunch of things that help us do this because we are solving the huge problem right now.
22:39
[SPEAKER_01]: 75% of people can't afford to purchase a home, 50% of people can't afford to pay the rent right now.
22:45
[SPEAKER_01]: In the US, we know about 10 million affordable homes.
22:49
[SPEAKER_01]: Wow, over 10 million, wow.
22:54
[SPEAKER_01]: too slow, too expensive, and takes too long to do it on their own.
22:59
[SPEAKER_01]: So they're looking for people to partner with.
23:01
[SPEAKER_01]: Community members, developers, investors do something that we call public private partnerships, calling P3s.
23:09
[SPEAKER_01]: The government, the public, partners up with the private.
23:12
[SPEAKER_01]: Every land is one of us, everybody on this cause is private, as a private developer or a private investor or aspiring.
23:19
[SPEAKER_00]: Yeah.
23:20
[SPEAKER_01]: and the government will partner with you to help solve these problems.
23:23
[SPEAKER_01]: So the first thing I want to understand, because I'm like, oh, it's too good to be true.
23:27
[SPEAKER_01]: No, there's a huge problem.
23:29
[SPEAKER_01]: There's a huge need.
23:30
[SPEAKER_01]: And this goes all the way back to slavery, red line, and the stricted covetances, you know, all types of housing inequalities, and things that have created these both racial wealth gaps.
23:43
[SPEAKER_01]: This ain't a new problem.
23:44
[SPEAKER_01]: This is a old problem.
23:47
[SPEAKER_01]: But because of such a huge problem, you could work with the government to solve these problems.
23:51
[SPEAKER_01]: So, if you are just getting into the game or you more experience, you come to the table and help solve problems.
23:59
[SPEAKER_01]: The first thing I want you to do, if you try and get into the spaces, the look around, and figure out where are the problems?
24:06
[SPEAKER_01]: Is it homelessness in your community?
24:08
[SPEAKER_01]: Is it racial wealth gap?
24:09
[SPEAKER_01]: Issues in your community?
24:11
[SPEAKER_01]: Is it gentrification?
24:12
[SPEAKER_01]: Issues in your community?
24:13
[SPEAKER_01]: Yeah.
24:15
[SPEAKER_01]: what's going on.
24:16
[SPEAKER_01]: The second step is finding government land or government properties that helps solve that problem.
24:24
[SPEAKER_01]: Right.
24:25
[SPEAKER_01]: And so we got government land banks.
24:28
[SPEAKER_01]: These are government agencies that own text for closed.
24:35
[SPEAKER_01]: Can then eminent domains stuff that's sitting on
24:43
[SPEAKER_01]: to build affordable housing.
24:45
[SPEAKER_01]: We got housing authorities that are sitting on vacant properties that are eating up their budget, getting squided on, you know, they cost a lot of money to maintain.
24:54
[SPEAKER_00]: Yeah.
24:55
[SPEAKER_01]: We got housing authorities, they got vacant lots.
24:59
[SPEAKER_01]: people parking cars on them, people dumping trash on them, it's costing a money to maintain.
25:04
[SPEAKER_01]: You got redevelopment authorities in your neighborhood.
25:06
[SPEAKER_01]: It's all these government agencies.
25:08
[SPEAKER_01]: We got land trust.
25:10
[SPEAKER_01]: We got repositories.
25:11
[SPEAKER_01]: It's all these government agencies that own the land.
25:13
[SPEAKER_01]: Yeah.
25:14
[SPEAKER_01]: First thing you got to understand is that there's a problem.
25:16
[SPEAKER_01]: Yeah.
25:17
[SPEAKER_01]: Second thing you got to understand who has the land?
25:20
[SPEAKER_01]: Right.
25:21
[SPEAKER_01]: All these people I just mentioned, who has the properties?
25:23
[SPEAKER_01]: All these people I just mentioned.
25:24
[SPEAKER_01]: Yeah, yeah.
25:25
[SPEAKER_01]: Third thing you got to know is that they will sell you stuff.
25:29
[SPEAKER_01]: a vacant property, vacant piece of land for what we call a nominal fee.
25:33
[SPEAKER_01]: You all got to know how to speak the language.
25:35
[SPEAKER_01]: I'm the fact that I'm, I hope you're all writing his down to say, let's take a look.
25:38
[SPEAKER_00]: Yeah, yeah, yeah, yeah.
25:39
[SPEAKER_01]: Because it's the key word.
25:40
[SPEAKER_01]: Yeah, yeah, yeah.
25:41
[SPEAKER_01]: If you just walk up on somebody, but like, yo, J.P. said on an S.K.'
25:44
[SPEAKER_01]: 's podcast, I can get a dollar out.
25:45
[SPEAKER_01]: I get a house for it.
25:46
[SPEAKER_01]: Yeah.
25:48
[SPEAKER_01]: They come out.
25:48
[SPEAKER_01]: Okay.
25:49
[SPEAKER_00]: Yeah.
25:49
[SPEAKER_01]: Well, if you go to them and be like, yo, there's a problem with gentrification.
25:53
[SPEAKER_00]: Yeah.
25:54
[SPEAKER_01]: You know, or racial wealth gap in the community, we try to close that wealth gap and you go to the agency in the land bank, the house and the dirty, and you tell them to sell you a property for a nominal fee.
26:05
[SPEAKER_01]: Right, this is the worry, it's not a dollar house.
26:07
[SPEAKER_00]: Yeah, yeah, yeah, yeah.
26:08
[SPEAKER_01]: Don't I want anybody saying dollar house has to this.
26:11
[SPEAKER_01]: The government will sell you land for a nominal fee.
26:14
[SPEAKER_01]: Yes.
26:15
[SPEAKER_01]: This nominal fee means they selling you land or they selling your properties for far less than what their work on this work, yeah.
26:22
[SPEAKER_01]: They sell to you for a dollar and it's worth $100,000.
26:23
[SPEAKER_01]: They sold it to you for a nominal fee.
26:26
[SPEAKER_01]: Sell your piece of land for $1,000.
26:28
[SPEAKER_01]: And it's worth $60,000.
26:29
[SPEAKER_01]: They sold it to you for a nominal fee.
26:32
[SPEAKER_01]: They are here selling schools right now, bro.
26:35
[SPEAKER_01]: You're seeing people buy old vacant schools for a hundred k. And the school worth six million, seven million, 10 million.
26:41
[SPEAKER_01]: They paying a hundred k for it.
26:43
[SPEAKER_01]: They got it for a nominal fee.
26:45
[SPEAKER_01]: And is this only in Philadelphia?
26:46
[SPEAKER_01]: This is all around the country.
26:48
[SPEAKER_01]: This is anywhere, anywhere.
26:50
[SPEAKER_01]: Anywhere, anywhere where there's a problem.
26:53
[SPEAKER_01]: Bro, anywhere in the country that will do this because you're helping the government to solve a problem.
26:58
[SPEAKER_01]: I want you to remember why.
27:00
[SPEAKER_01]: That's why I started with the problem.
27:01
[SPEAKER_01]: People like, I don't know what some of it.
27:03
[SPEAKER_01]: for a nominal fee for a dollar.
27:06
[SPEAKER_01]: That's too good to be true.
27:06
[SPEAKER_01]: No, it's not.
27:07
[SPEAKER_01]: There's a huge problem in the government.
27:09
[SPEAKER_01]: We'll work with you to solve these problems.
27:12
[SPEAKER_01]: They sell you properties for a dollar.
27:14
[SPEAKER_01]: They'll sell you pieces of land for a thousand.
27:15
[SPEAKER_01]: They'll sell you schools for a hundred thousand.
27:17
[SPEAKER_01]: Even those worth two million as long as you use that land or you use that property to solve affordable housing issues.
27:26
[SPEAKER_01]: And they're going to make sure you do what you say, no, too.
27:28
[SPEAKER_01]: Because if they sell it to you for a nominal fee, they ain't going to let you just turn around and sell it.
27:33
[SPEAKER_01]: wholesale it, you know, get it for a dollar, turn myself $100, and next day they're not going to let you do that.
27:37
[SPEAKER_01]: They're going to put a D-restriction on the property.
27:41
[SPEAKER_00]: So yeah, how's my next question?
27:42
[SPEAKER_01]: All this stuff is D for strict in affordable housing.
27:45
[SPEAKER_01]: The government will work with you, give you grants, give you special loans, give you properties for nominal fees as long as it's D for strict that affordable housing.
27:54
[SPEAKER_01]: And what they're going to do is they're going to put a restriction on a D, they make sure you either got a sell it or rent it as affordable housing.
28:01
[SPEAKER_01]: But we cool with that, because we don't want service work.
28:04
[SPEAKER_01]: We help them people in.
28:06
[SPEAKER_01]: We're making money in the process.
28:08
[SPEAKER_00]: Right.
28:09
[SPEAKER_01]: There's nothing wrong with making money.
28:10
[SPEAKER_01]: Yeah.
28:11
[SPEAKER_01]: There's nothing wrong with making money while helping people.
28:13
[SPEAKER_01]: All right.
28:14
[SPEAKER_01]: That's the best way to help people.
28:15
[SPEAKER_01]: The best way to help people.
28:16
[SPEAKER_01]: The best way to help people.
28:17
[SPEAKER_01]: I can't help the poor if I wanted them.
28:19
[SPEAKER_01]: Can't help the poor if you want them, but you can't.
28:21
[SPEAKER_01]: You can't poor.
28:22
[SPEAKER_01]: from an empty cup.
28:23
[SPEAKER_01]: That's the fact.
28:23
[SPEAKER_01]: That's the fact.
28:24
[SPEAKER_01]: You need your cups to overflow.
28:25
[SPEAKER_01]: That's the fact.
28:26
[SPEAKER_01]: So that we in the position of strength.
28:28
[SPEAKER_00]: Yeah.
28:29
[SPEAKER_01]: And so that we can sustain this.
28:30
[SPEAKER_01]: Right.
28:31
[SPEAKER_01]: So you can make great money doing this.
28:33
[SPEAKER_00]: Yeah.
28:33
[SPEAKER_01]: Why helping people do work in, in conjunction with these different programs.
28:38
[SPEAKER_01]: But at the end of the day, we decided on problems.
28:40
[SPEAKER_00]: Yeah.
28:40
[SPEAKER_01]: And we're creating solutions for housing and the government's giving us properties for the loan.
28:45
[SPEAKER_01]: Well, us to be able to do it.
28:47
[SPEAKER_01]: Because think about it.
28:49
[SPEAKER_01]: If they sell you a house for a dollar.
28:53
[SPEAKER_01]: And it's say it got 90,000 in construction because he's still need construction so now you you bought a for a dollar you spent 90,000 in construction.
29:01
[SPEAKER_01]: Yeah, how much money are you win like 90,000 in exchange right right.
29:07
[SPEAKER_01]: How much can you afford to sell a four now?
29:08
[SPEAKER_01]: Like you can sell a four in affordable price.
29:11
[SPEAKER_01]: On 20, 140, the buyer can still get a four in affordable price.
29:15
[SPEAKER_01]: They get the house for a reasonable price because you got it for so cheap.
29:18
[SPEAKER_01]: So cheap, yeah.
29:19
[SPEAKER_01]: The government said, oh, this house worth $70,000.
29:21
[SPEAKER_01]: And we will sell it to you for $70,000 or $60,000.
29:26
[SPEAKER_01]: Now let's do you put that $90k into it?
29:28
[SPEAKER_01]: You know, you in 161 70 now how much you got a seller for you got a seller for two on some chains and now and now is it affordable now?
29:37
[SPEAKER_01]: Yeah, yeah, so they gave it to you for the low so that you can keep it affordable when you sell it those sell it to you for a nominal fee Yeah, so when you put that a couple million hours in the construction for those apartments right
29:50
[SPEAKER_01]: you ain't so deep into the project where you got to rent it for super expensive.
29:54
[SPEAKER_00]: Obviously, I don't know how they got it got it got it got it.
29:56
[SPEAKER_01]: You understand, so that's like the major tool that the government gives us to be able to assist in affordable housing because they can't do this all on your own.
30:06
[SPEAKER_01]: So what they do is they get private.
30:09
[SPEAKER_01]: developers like ourselves.
30:11
[SPEAKER_01]: It's like, yo, you want to help us with this problem.
30:13
[SPEAKER_01]: We'll sell you these homes for the low, nominal fees, sell you this land for nominal fees as long as you keep it affordable housing.
30:21
[SPEAKER_01]: The government wins because they saw the need you win as a developer.
30:25
[SPEAKER_00]: Yeah.
30:25
[SPEAKER_01]: And the community wins because they get cheap affordable homes to purchase and affordable rentals.
30:30
[SPEAKER_01]: And so I know that's a long way to answer your questions.
30:34
[SPEAKER_00]: Good though,
30:37
[SPEAKER_01]: If you are small and you just get and start it, yeah, we just do it with one house, we had a pilot program filling do the jump start program, we got sixty houses for sixty dollars.
30:49
[SPEAKER_01]: These houses were about a hundred k apes do the math 60 houses for sixty dollars, we're about a hundred thousand apes right and.
31:00
[SPEAKER_01]: We've used first-time developers, first-time investors, people from the community that was just passionate about the mission.
31:06
[SPEAKER_00]: Yeah.
31:06
[SPEAKER_01]: And they bought those homes and turned them over as affordable housing.
31:09
[SPEAKER_01]: Uh-huh.
31:09
[SPEAKER_01]: They first-time.
31:10
[SPEAKER_01]: Wow.
31:11
[SPEAKER_01]: We just had an initiative yesterday that we just broke ground on.
31:15
[SPEAKER_01]: We've just broke ground on 90 new construction houses and what's fully.
31:20
[SPEAKER_01]: The average developer, that's a part of it.
31:22
[SPEAKER_01]: We got minority developers from the community.
31:24
[SPEAKER_01]: Lacking black and brown women and men from the community.
31:27
[SPEAKER_01]: We brought in these with people from the neighborhood.
31:29
[SPEAKER_01]: Some people only done three rehabs before.
31:32
[SPEAKER_00]: Or.
31:32
[SPEAKER_01]: Some people only done four or five rehabs before.
31:35
[SPEAKER_01]: And they still are able to source the land, get the funding, and we support them and guide them through the whole new construction process.
31:42
[SPEAKER_01]: So if you just begin and you just never did it before, we got pilots, and we've done pilots to do that.
31:49
[SPEAKER_01]: You can do it.
31:50
[SPEAKER_01]: If you a little more season three, five, six deals, we put up 90 homes right now, was Philly where people would have moderate levels of experience.
31:59
[SPEAKER_01]: And then for the people that really got the experience, you know, it's endless opportunities for them too, but you can get in where you fit in.
32:05
[SPEAKER_00]: Yeah.
32:06
[SPEAKER_00]: Yeah.
32:06
[SPEAKER_00]: Are you?
32:07
[SPEAKER_00]: Are you?
32:08
[SPEAKER_00]: Yeah.
32:09
[SPEAKER_00]: So, so is the government giving these properties, is it only for affordable housing?
32:16
[SPEAKER_00]: Like is that the or are there other reasons why they would sell you a property for nominal fee?
32:25
[SPEAKER_01]: So at the highest level of selling to you because there's a huge problem, and it's for affordable housing, okay.
32:31
[SPEAKER_01]: So that's going to be the one of the largest reasons why they're selling it to you for yeah, a nominal fee because you're going to take it and do some form of de-restricted housing whether it's for sale or whether it's for rental.
32:42
[SPEAKER_00]: Yeah.
32:43
[SPEAKER_01]: Another reason though, while somebody's housing authorities are selling some of these vacant properties and somebody's vacant lots is because these housing authorities, they can't let their vacancy rate get too high.
32:57
[SPEAKER_01]: So, vacancy rate just means like if they own 100 units and less than, less than, less than 96% of those units are occupies, so they have 100 units and less than 96% of those units are occupies, no they got a vacancy issue, no.
33:15
[SPEAKER_01]: And anytime the housing authority is falling to a situation where they go under 96% occupied, 94% occupied, HUD start giving them some steady.
33:25
[SPEAKER_01]: And HUD can actually start stepping in, decrease in a budget, HUD can start stepping in and actually taking over the operation.
33:34
[SPEAKER_01]: This actually just happened in Arkansas.
33:36
[SPEAKER_01]: They had too much vacancy and HUD stepped in and took over the whole housing authority operation.
33:43
[SPEAKER_01]: sometimes he's housing authorities are selling these properties one because they need affordable housing sure but to the time to make sure that they don't have these vacant properties just sitting on a balance sheet all because they can get in trouble with HUD yeah because of that yeah and also across the money right
33:59
[SPEAKER_01]: We got it.
33:59
[SPEAKER_01]: We're the Rosem, maintain them, put security on them.
34:03
[SPEAKER_01]: You got squatters.
34:05
[SPEAKER_01]: Got, you know, funds coming from the city.
34:07
[SPEAKER_01]: So some of these agencies will clear them off day balance sheet because it's costing the money to keep them otherwise.
34:12
[SPEAKER_01]: So sometimes it will cause it the agencies budget.
34:15
[SPEAKER_00]: Yeah.
34:15
[SPEAKER_00]: Yeah.
34:16
[SPEAKER_00]: and so now, so I go, I find a property that the government owns, I ask them to give it to me for a nominal fee, I get the home, the money, you know, I need to put money down to fix it up.
34:35
[SPEAKER_00]: Is the government guaranteed to give me that money if, if, if, if, yes, or if, no,
34:43
[SPEAKER_00]: how would somebody who doesn't have money fund to get it fixed up, even if they get it as an adenominal fee.
34:51
[SPEAKER_01]: I got you.
34:51
[SPEAKER_01]: So let's unpack that, right?
34:54
[SPEAKER_01]: So let's go back to the, to the ask part.
34:57
[SPEAKER_00]: Yeah.
34:57
[SPEAKER_01]: So when you don't necessarily walk up to them and ask them, there's different ways that you go about applying for it.
35:05
[SPEAKER_01]: The top ways are going through something that we call of a quest for proposal, so it's an RFP.
35:10
[SPEAKER_01]: Yeah, yeah.
35:11
[SPEAKER_01]: Quest for proposal means a government is about to sell a piece of land or sell a property.
35:15
[SPEAKER_00]: Yeah.
35:16
[SPEAKER_01]: And that's seeing who's interested to put an RFP out to the community.
35:19
[SPEAKER_01]: Mm-hmm.
35:20
[SPEAKER_01]: They got requests for qualifications, which same thing, same concept.
35:24
[SPEAKER_01]: They buy to sell something.
35:25
[SPEAKER_01]: They want to put a request out to the public, the see who's interested.
35:29
[SPEAKER_01]: Mm-hmm.
35:30
[SPEAKER_01]: And who's qualified?
35:32
[SPEAKER_01]: The only thing you got to do is just one node of RFP is now everybody knows.
35:37
[SPEAKER_01]: So when you see that we're RFP and these are getting ready to sell something RFQ, request for qualification any about to sell something.
35:44
[SPEAKER_01]: and you gotta get on in, they mail in lists.
35:47
[SPEAKER_01]: So like in the beginning, I spoke about a few places that got properties, right?
35:51
[SPEAKER_01]: Land banks.
35:52
[SPEAKER_01]: Go to the Land Bank's website and go on to the news letter.
35:56
[SPEAKER_01]: Go to Google, research, land bank where you live.
36:00
[SPEAKER_01]: Join a news letter.
36:01
[SPEAKER_01]: Research redevelopment authority where you live.
36:03
[SPEAKER_01]: Join the news letter.
36:05
[SPEAKER_01]: land trust where you live, joining news letter, housing authority where you live, joining news letter.
36:09
[SPEAKER_01]: As soon as you see RFP or RFQ come out for the government selling some land to some property.
36:17
[SPEAKER_01]: click the link, right?
36:19
[SPEAKER_01]: No into it.
36:20
[SPEAKER_01]: They're usually going to schedule a meeting.
36:22
[SPEAKER_01]: They want to set up a meeting on that's going to be around what the application looks like or what the request for qualification looks like, how do you apply?
36:30
[SPEAKER_01]: They're going to give you like a one-page application or sometimes a five-page application or sometimes a 10-page application.
36:38
[SPEAKER_01]: Fill it out, work with a consultant, use chat, GBT.
36:42
[SPEAKER_01]: That's where you're going to tell them how you're going to solve the problem.
36:45
[SPEAKER_01]: That's how you ask them for the property.
36:48
[SPEAKER_01]: Housing authorities got these RFPs and RFQs, too.
36:51
[SPEAKER_01]: What are the Housing Authority website?
36:53
[SPEAKER_01]: Joining Newsletter.
36:54
[SPEAKER_01]: They just send it out.
36:55
[SPEAKER_01]: Joining the Newsletter.
36:57
[SPEAKER_01]: Show up for the RFP meeting.
36:59
[SPEAKER_01]: Learn about how to go through the application.
37:02
[SPEAKER_01]: do the application though, right?
37:03
[SPEAKER_01]: Because we're not here learning just to be learning.
37:05
[SPEAKER_01]: But anybody is watching this, right?
37:07
[SPEAKER_01]: Yeah.
37:07
[SPEAKER_01]: I hope everybody's taking those.
37:09
[SPEAKER_01]: But you might have to work with somebody to do the application.
37:12
[SPEAKER_01]: You might have to work with a consultant like us.
37:14
[SPEAKER_01]: You may have to stay up two weeks, three weeks to get through the application, grinding out at night.
37:19
[SPEAKER_01]: But after you get done at first application, at the day all you gonna do is just copy and paste it and rinse and repeat it for every RFP and every RFQ you see.
37:28
[SPEAKER_01]: And I mean, whether it's from whatever agency.
37:31
[SPEAKER_01]: That's the number one way, RFPs and RFQs.
37:35
[SPEAKER_01]: join the newsletters, be on a lookout for them.
37:37
[SPEAKER_01]: The next way is do something that we call an unsolicited bid.
37:42
[SPEAKER_01]: So sometimes you're living a city or a state, because remember, this could be done anywhere, anywhere with a state, housing agencies, anywhere with us, federal government under HUD, anywhere with us, housing authorities, which is most major citizens throughout the U.S. land banks, redevelopment authorities, all across the country.
38:02
[SPEAKER_01]: anywhere with these places are, you know, you can get, you can get access, but they also got something called an unsolicited bid.
38:08
[SPEAKER_01]: So say all these agencies, they're not sending out of RFP.
38:11
[SPEAKER_01]: They're not sending out of RFQ.
38:13
[SPEAKER_01]: And you're looking at 10 bandos in your neighborhood.
38:15
[SPEAKER_01]: Yeah, yeah.
38:16
[SPEAKER_01]: Like, you know, these bandos, they owned by the city, but they're not putting out RFP, RFQ.
38:20
[SPEAKER_01]: You can submit something called an unsolicited bid.
38:22
[SPEAKER_01]: Just when, you know, by asking you to apply for it, you know, by asking to make a request for it, but you filled it out on your own.
38:28
[SPEAKER_01]: Yeah.
38:28
[SPEAKER_01]: And submitted it unsolicited.
38:31
[SPEAKER_01]: Those are going to be the top two ways that to ask RFPs and RFQs through the newsletters or submit them what we call the unsolicited bid.
38:39
[SPEAKER_01]: And you find those 10 vacant lots or those 10 or those 3 bandos in your neighborhood.
38:43
[SPEAKER_01]: Yeah.
38:44
[SPEAKER_01]: So that's that one when you, it's how you're going to make the ass, right?
38:49
[SPEAKER_01]: When it comes to the funding piece,
38:52
[SPEAKER_01]: I know I'm going.
38:53
[SPEAKER_01]: I'm not going.
38:54
[SPEAKER_01]: Oh, you're good.
38:55
[SPEAKER_01]: It's the class.
38:56
[SPEAKER_01]: Yeah, you're using this.
38:58
[SPEAKER_01]: I was shooting right there because I think, I'm like, yeah, I was shooting.
39:01
[SPEAKER_01]: I was shooting.
39:02
[SPEAKER_01]: We're trying to equip people, man.
39:03
[SPEAKER_01]: We're trying to.
39:03
[SPEAKER_01]: Yeah.
39:04
[SPEAKER_01]: We got to get more community developers involved.
39:06
[SPEAKER_00]: Sure.
39:07
[SPEAKER_00]: For sure.
39:07
[SPEAKER_01]: You want to close a racial wealth gap.
39:09
[SPEAKER_01]: Yeah.
39:10
[SPEAKER_01]: We got to make some money.
39:10
[SPEAKER_01]: Yeah.
39:10
[SPEAKER_01]: We got to make some money for sure.
39:11
[SPEAKER_01]: One thousand percent.
39:12
[SPEAKER_01]: So that's what we're doing here.
39:13
[SPEAKER_01]: We're trying to make sure that community developers get involved.
39:15
[SPEAKER_01]: Yeah.
39:15
[SPEAKER_01]: Yeah.
39:16
[SPEAKER_01]: Yeah.
39:16
[SPEAKER_01]: Yeah.
39:20
[SPEAKER_01]: It's a few different way.
39:21
[SPEAKER_01]: I mean, it's a bunch of different ways to fund the right, but one of the easiest ways if you just get started is do a hard money lender.
39:27
[SPEAKER_01]: So a hard money lender is going to be the typical, you know, you're everybody heard a hard money or a foreign lender, some money, I pay him back in nine months, 12 months, and it's protected by the asset.
39:38
[SPEAKER_01]: It's protected by the asset.
39:39
[SPEAKER_01]: You know, they also might ask you for personal guaranteed.
39:41
[SPEAKER_01]: You might also ask you for some some down payment money.
39:44
[SPEAKER_01]: Yeah.
39:45
[SPEAKER_01]: But when you come to them with these type of deals, it's different.
39:47
[SPEAKER_00]: Yeah.
39:48
[SPEAKER_01]: So what we usually do, I had to mention here, no money.
39:50
[SPEAKER_01]: Yeah.
39:51
[SPEAKER_01]: But he applied and got the property for nominal fee and that property had about $70,000 an equity in it.
40:00
[SPEAKER_01]: And listen, it's five, four, three, six wins are having the Philadelphia P.A.
40:04
[SPEAKER_01]: One, nine, one, four, two.
40:06
[SPEAKER_01]: Listen, we listen, we got the receipts.
40:08
[SPEAKER_01]: Yeah, just before $1.
40:11
[SPEAKER_01]: The property was worth about $75,000, $80,000 as is.
40:17
[SPEAKER_01]: And so what he did was he took the asset, once in a hard money lender, and asked them for 100% construction loan.
40:28
[SPEAKER_01]: You don't need the money to buy it.
40:29
[SPEAKER_01]: It's a nominal fee.
40:30
[SPEAKER_01]: You got a dollar right, right, right, right.
40:32
[SPEAKER_01]: But you are going to need construction money because that house going need 80,000 to 120,000 hours of renovation.
40:38
[SPEAKER_01]: So you get the asset.
40:39
[SPEAKER_01]: It got equity in it.
40:40
[SPEAKER_01]: Yep.
40:40
[SPEAKER_01]: You go to the hard money lender.
40:41
[SPEAKER_01]: You tell them you want 100% construction loan.
40:44
[SPEAKER_00]: But real quick, the is the, is the, even though the deed is restricted, the hard money lender is still going to lend you or based on the asset.
40:52
[SPEAKER_00]: They will.
40:53
[SPEAKER_00]: Okay.
40:53
[SPEAKER_00]: That's a little bit more complex.
40:54
[SPEAKER_00]: Right.
40:54
[SPEAKER_01]: Right.
40:55
[SPEAKER_01]: Right.
40:55
[SPEAKER_01]: Right.
40:55
[SPEAKER_01]: This song called the first writer's first writer for fuel.
40:58
[SPEAKER_01]: Yup.
40:58
[SPEAKER_01]: Yup.
40:58
[SPEAKER_01]: Yup.
40:58
[SPEAKER_01]: Yup.
40:58
[SPEAKER_01]: And they still got the ability to come after the money you need to.
41:02
[SPEAKER_01]: Okay.
41:03
[SPEAKER_01]: Copy.
41:03
[SPEAKER_01]: So that that gives them the protection, but they still will lend to you on the asset.
41:07
[SPEAKER_01]: Yeah.
41:08
[SPEAKER_01]: Yeah.
41:08
[SPEAKER_01]: Yeah.
41:08
[SPEAKER_01]: Yeah.
41:09
[SPEAKER_01]: Some some hard money lenders don't understand the date.
41:11
[SPEAKER_01]: They don't know about the first writer for fuel.
41:13
[SPEAKER_01]: They'd be like, oh, that's why we educate them.
41:16
[SPEAKER_01]: No, read the link.
41:16
[SPEAKER_01]: Yeah.
41:17
[SPEAKER_01]: Just write a
41:20
[SPEAKER_01]: and it got equity in it.
41:22
[SPEAKER_01]: You take it to them and you tell me you want a 100% destruction loan against it.
41:26
[SPEAKER_01]: I don't need the money to buy it.
41:28
[SPEAKER_01]: I just need 90,000 hours for the construction.
41:32
[SPEAKER_01]: 100% construction loan.
41:33
[SPEAKER_01]: I'm going to give you the loan for 90,000.
41:36
[SPEAKER_01]: A lot of hard-many lenders are going to want you to put some money down though, even still because they like we want you to add some skin in the game.
41:41
[SPEAKER_01]: Yeah, yeah, yeah.
41:42
[SPEAKER_01]: You tell them, listen, the property is my skin in the game, the property is equity in it.
41:46
[SPEAKER_01]: That equity inside of the property, that's my skin in the game.
41:49
[SPEAKER_01]: So I won't put down any down payment.
41:51
[SPEAKER_00]: Yeah.
41:53
[SPEAKER_01]: Next thing you're going to tell them is, I want you to catch me out some of that equity.
41:59
[SPEAKER_01]: at the clothes in table.
42:00
[SPEAKER_01]: I went 100% construction loan.
42:02
[SPEAKER_01]: The property is my equity.
42:04
[SPEAKER_01]: It's got 78,000 equity.
42:06
[SPEAKER_01]: But I want you to cash me out, 20K, 30K at that equity at the clothes in table.
42:10
[SPEAKER_01]: Because I don't have any money.
42:12
[SPEAKER_01]: And I need some money for the clothes in it all.
42:15
[SPEAKER_01]: Closer calls from BFU Green.
42:16
[SPEAKER_01]: So you tell me, cash me out, 20,000 at that equity added to the loan.
42:20
[SPEAKER_01]: So instead of being 90,000 out of the loan now, now's one ton.
42:24
[SPEAKER_01]: Gaming at 20 using 3000 up before the closing calls.
42:28
[SPEAKER_01]: Right.
42:29
[SPEAKER_01]: I still got 17 left.
42:31
[SPEAKER_01]: I'm going to use that 17.
42:32
[SPEAKER_01]: So you tell them 100% construction loan.
42:34
[SPEAKER_01]: Yeah.
42:35
[SPEAKER_01]: No down payment.
42:36
[SPEAKER_00]: Yeah.
42:36
[SPEAKER_01]: Cast me out that 20 or 25.
42:38
[SPEAKER_01]: Yeah.
42:38
[SPEAKER_01]: It's the foot of closing calls.
42:40
[SPEAKER_01]: And I'm going to use that remaining money for my construction because the thing about these construction loans is they are 100%.
42:48
[SPEAKER_01]: But the reimbursable, ain't gonna give you that 90 in the beginning.
42:51
[SPEAKER_01]: I start, you got to do the demo, do the window, do the framing, and then they give you the money back that you spent.
42:58
[SPEAKER_01]: All right, you don't have any money.
42:59
[SPEAKER_01]: Right.
43:00
[SPEAKER_01]: That cash out of that equity is going allow you to start the construction, however you're closing calls.
43:07
[SPEAKER_01]: So 100% no down payment, the equity is the down payment and cash me out at it's at a long,
43:12
[SPEAKER_01]: As long as it's a strong deal, they've got cash you out, right?
43:16
[SPEAKER_01]: Well, every hard money lender do this?
43:19
[SPEAKER_01]: Nope.
43:19
[SPEAKER_01]: Yeah.
43:20
[SPEAKER_01]: How do you find a hard money lender?
43:22
[SPEAKER_01]: I mean, easy, real estate meetups, who go, well, honestly, you go to a real estate meetup.
43:27
[SPEAKER_01]: You're going to walk in the seven heart money lenders, right, right, they're in the real estate meetups because they're looking for that business.
43:32
[SPEAKER_01]: Yeah.
43:32
[SPEAKER_01]: Google, real estate meetup, a go to a real estate Facebook group and just put in the Zaymai Noahar money lender.
43:37
[SPEAKER_01]: They're going to flood your D.L.
43:39
[SPEAKER_01]: Yeah, for sure.
43:39
[SPEAKER_01]: Every hard money lender is going to do this, but for every three that say, no, it's going to be one of two that's going to say, yes, yeah, yeah, yeah, yeah, yeah.
43:46
[SPEAKER_01]: Because,
43:48
[SPEAKER_01]: They like the marketing.
43:49
[SPEAKER_01]: It's community oriented and I know the council person going to show up and take a picture and it might make the news paper and it looks good for the brain right yeah using going to have like a 680 credit score better if you want to keep the property and run it yeah what if you sell in it
44:05
[SPEAKER_01]: They don't really care about your credit school like that because the deal is strong.
44:09
[SPEAKER_01]: Right.
44:10
[SPEAKER_01]: If you buying it and rehabbing it for 95, but it's worth 200.
44:14
[SPEAKER_01]: Right.
44:15
[SPEAKER_01]: Done.
44:16
[SPEAKER_01]: They running you less than 50% of all you have strong deal.
44:19
[SPEAKER_01]: They're going to work with you even if you even aspired up.
44:24
[SPEAKER_01]: One more, though, for you.
44:25
[SPEAKER_01]: So when it comes to when it comes to, you might have a little bit more experience.
44:31
[SPEAKER_01]: You might take those saying properties that you got, I take those land that land that you got and instead of going to a hard money lender, you go to a bank and you tell me when you do asset based business line of credit.
44:42
[SPEAKER_01]: Assets based business line of credit.
44:45
[SPEAKER_01]: Assets based business line of credit, or I'm on the business line of credit and I'm going to use these properties that I just bought from the government as collateral.
44:52
[SPEAKER_01]: Quick example, I bought 23 houses for $23.
44:57
[SPEAKER_01]: It was worth $100,000 a piece.
44:58
[SPEAKER_01]: And this is all public information, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go, let's go,
45:15
[SPEAKER_01]: I told the bank there.
45:16
[SPEAKER_01]: I want to do a line of credit against these properties.
45:18
[SPEAKER_01]: They were $2.3 million.
45:20
[SPEAKER_01]: I asked them for 30%, 35% they're getting in $950,000 of business line of credit back by those houses that was worth $2.3 million.
45:31
[SPEAKER_01]: Now, instead of having to get a heart money lender, I was able to use their $950,000 line of credit.
45:38
[SPEAKER_01]: do construction on five other properties at the time.
45:40
[SPEAKER_01]: Yeah, sell them.
45:41
[SPEAKER_01]: Yeah, do construction on five more.
45:43
[SPEAKER_01]: Sell them.
45:44
[SPEAKER_01]: I just kept replenishing the lawn.
45:45
[SPEAKER_01]: Wow.
45:46
[SPEAKER_01]: I just used that asset base business on a credit actually.
45:48
[SPEAKER_01]: I'm still using it to this down.
45:50
[SPEAKER_01]: And we just rotating through affordable housing projects.
45:54
[SPEAKER_01]: Now, we work with banks like P and C while as far go, Bank of America.
46:00
[SPEAKER_01]: They love doing these.
46:01
[SPEAKER_01]: Yeah.
46:01
[SPEAKER_01]: Yeah.
46:02
[SPEAKER_01]: But,
46:03
[SPEAKER_01]: There's banks at a call, community development financial institutions, CDFIs, they like doing these even better.
46:10
[SPEAKER_01]: Yeah, because CDFIs are like government, are kind of government, bank, bank, bank banks.
46:17
[SPEAKER_01]: They whole reason for being there is to do small business loans and to do things like affordable housing.
46:22
[SPEAKER_00]: Yeah.
46:23
[SPEAKER_01]: CDFIs will give you these type of loans, but they even do you one better.
46:28
[SPEAKER_01]: They'll give you a lower interest rate.
46:30
[SPEAKER_01]: So instead of paying 8% on the money, that's only charge you five percent, man.
46:36
[SPEAKER_01]: Instead of you having to put down 20%, 30% on the loan, don't only make you put down one percent.
46:43
[SPEAKER_01]: How?
46:43
[SPEAKER_01]: You see the FIs, they're there to help me to get the job done, yeah.
46:47
[SPEAKER_01]: Wow, let me knee, how was it?
46:48
[SPEAKER_01]: Yeah, so he was problem in the government that's backing them, man.
46:51
[SPEAKER_01]: So they backing you to get these deals done, man.
46:54
[SPEAKER_00]: So like, I mean, you alluded to this earlier,
46:57
[SPEAKER_00]: And I know somebody watching taking notes, you know, this sounds too good to be true, my G, like what is, are there any doubtfuls, like why wouldn't somebody be successful running this?
47:11
[SPEAKER_00]: Like if somebody's saying, you all want to get into real estate because like we had, you know, swooped in my brother's storm leeway.
47:16
[SPEAKER_00]: We had somebody on here who was like, he used to be in real estate.
47:23
[SPEAKER_00]: Um, he had 40 properties and, uh, you know, he was, you know, looking at the right and on the wall and he got rid of, he got rid of all of those things like, you obviously, all of these real estate, you know, the, the, the market isn't it?
47:34
[SPEAKER_00]: What it is anymore, the tenants are a, a bad thing to that nature.
47:38
[SPEAKER_00]: Like, what is like, are there any, uh, negative sides of getting into this?
47:46
[SPEAKER_01]: It's negative size into anything if you get into it with one wrong motives, like, so there's a affordable housing space, just like any other business.
47:55
[SPEAKER_01]: I don't care what business you start, yeah.
47:57
[SPEAKER_01]: It's a grunt, yep.
47:58
[SPEAKER_01]: So that mission and that passion piece is gonna be critical, right?
48:02
[SPEAKER_01]: You gotta love the work that you do, right, yeah, yeah.
48:05
[SPEAKER_01]: Because it's like anything else is some setbacks, right, yeah, yeah, yeah.
48:08
[SPEAKER_01]: But honestly brother,
48:11
[SPEAKER_00]: people have been doing this in our communities for the past 30, 40 years, and we just didn't know anything about it though, and because now that I, so, and I'll be 100% honest with you, is a lot like I'm from Harlem, right?
48:28
[SPEAKER_00]: And a lot of the churches in Harlem are running this play.
48:33
[SPEAKER_00]: where they are getting the properties from the government, they're building these big affordable housing units and things in that nature.
48:44
[SPEAKER_00]: These massive projects, and me looking from the outside, looking in, I'm saying that the only reason they're doing that is because aided a church,
48:56
[SPEAKER_00]: be they have the relationships, and you know, see they like go with the politicians, right?
49:03
[SPEAKER_00]: But the truth is, it kind of feel like if I knew what they knew, I could be doing the same thing as well.
49:10
[SPEAKER_01]: Most of us don't know.
49:12
[SPEAKER_01]: Or a lot of times it ain't what we didn't have is what we didn't know.
49:15
[SPEAKER_01]: Yeah, yeah.
49:16
[SPEAKER_01]: People have been making a lot of money in this space.
49:19
[SPEAKER_01]: and taking it back to the communities.
49:21
[SPEAKER_01]: What we're doing here is, which I make sure that we know, we got access and that dollar stays stays local, right?
49:29
[SPEAKER_01]: So that's what we're doing here with this buyback to block community that we got is empowering people.
49:34
[SPEAKER_01]: And when you're talking about the churches for us to know, we keep these dollars in the neighborhood and also lead this change from the front, right?
49:42
[SPEAKER_01]: Church is non-profits.
49:45
[SPEAKER_01]: about anybody that's in the affordable housing space, honestly right now, but there's so many tools to help you and build bigger buildings, to help you get money, you don't have to pay back, to help you to get loans that are way better than any other loan you can get anywhere else.
50:01
[SPEAKER_01]: A affordable housing has become like a safe haven.
50:04
[SPEAKER_01]: Especially in the last five to six years.
50:06
[SPEAKER_01]: Yeah.
50:07
[SPEAKER_01]: Interest rates have been eight, nine percent.
50:10
[SPEAKER_01]: You go to refinance in apartment building right now.
50:12
[SPEAKER_01]: People paying eight percent interest nine percent inches on a refinance.
50:17
[SPEAKER_01]: Five years ago, a refinance was three, four, maybe max five percent.
50:22
[SPEAKER_01]: Right.
50:22
[SPEAKER_01]: I hired an interest rate to hire your mortgage.
50:25
[SPEAKER_01]: So now people mortgages this up here and they cash flow is low.
50:29
[SPEAKER_01]: When you're going to the affordable housing space, your interest rates be 3% 4% 5%.
50:33
[SPEAKER_01]: Wow.
50:35
[SPEAKER_01]: Because the government makes it happen and make these bills work.
50:38
[SPEAKER_01]: Right.
50:38
[SPEAKER_01]: When you're going to the affordable housing space, instead of having to put 30% down to going by, a big 50 unit building.
50:46
[SPEAKER_01]: Yeah.
50:47
[SPEAKER_01]: You only got to put 10% down.
50:49
[SPEAKER_01]: That, yeah, you go and get a special, special grant or a special loan.
50:55
[SPEAKER_01]: There's a program called Home, the Home Fund right now.
50:58
[SPEAKER_01]: It's a home fund, home reinvestment program.
51:01
[SPEAKER_01]: It will give you $50,000 to $100,000 for every unit of affordable housing that you build or you buy.
51:07
[SPEAKER_01]: Wow.
51:08
[SPEAKER_01]: You ain't even got to bring any money to the table.
51:10
[SPEAKER_01]: You could go and buy 100 unit building, get the home program to give you $5 million towards your project.
51:16
[SPEAKER_01]: Yeah, yeah.
51:16
[SPEAKER_01]: And use it as your down payment.
51:18
[SPEAKER_01]: Wow.
51:19
[SPEAKER_01]: Wow.
51:19
[SPEAKER_01]: You could go and get tax credit.
51:21
[SPEAKER_01]: There's a lot of tax credit program right now.
51:23
[SPEAKER_01]: Yeah.
51:23
[SPEAKER_01]: Yeah.
51:23
[SPEAKER_01]: Yeah.
51:24
[SPEAKER_01]: You can go and apply for tax credits and get those tax credits for millions of dollars.
51:30
[SPEAKER_01]: Sell those tax credits to banks, institutions, those big corporation, need tax breaks.
51:35
[SPEAKER_01]: And you can use those tax credits for your down payment, to pay yourself, to do your construction.
51:40
[SPEAKER_01]: You ain't got to come out to your pocket at all.
51:42
[SPEAKER_01]: Wow.
51:43
[SPEAKER_01]: That's the thing about affordable housing.
51:45
[SPEAKER_01]: And I don't see that's the big thing I've been trying to spread is it's not just purchasing a house for a nominal fee right or the land right the government has Grants that you don't have to pay back to where you could get to the table with no money They got they got tax credit programs where you could cover a 70 80% of your project calls with tax credits that you apply for Wow You see Floyd me whether you know all these NFL players and all these athletes doing these hundred unit affordable
52:14
[SPEAKER_01]: get in the tax credits and using that for down payment paying themselves and doing the buildings.
52:19
[SPEAKER_00]: Yeah, yeah.
52:20
[SPEAKER_01]: On these affordable housing projects, there's something called preservation funds, preservation grants, preservation money, as what we call like soft money.
52:30
[SPEAKER_01]: Oh, that 20% you got to put down.
52:32
[SPEAKER_01]: You could go in a plough for preservation funding, or preservation grants.
52:37
[SPEAKER_01]: The government will give you grants or loans that you can use for your down payment.
52:43
[SPEAKER_01]: The bank will cover 80% the preservation grants funds and solve money's will cover to other 20%.
52:49
[SPEAKER_00]: Yeah.
52:49
[SPEAKER_01]: You could buy a 50-unit building right now with no money out of your eyes.
52:53
[SPEAKER_01]: 100-unit project with no money out of your pocket.
52:56
[SPEAKER_01]: Yeah, yeah, yeah.
52:56
[SPEAKER_01]: The government has all these tools set up to do this.
52:59
[SPEAKER_01]: Yeah, yeah.
52:59
[SPEAKER_01]: Even the way you set up and structure your finance and on these deals.
53:02
[SPEAKER_01]: Yeah, yeah.
53:03
[SPEAKER_01]: Oh, I put 1% down on deals I do.
53:06
[SPEAKER_01]: Sheesh.
53:07
[SPEAKER_01]: 3% max.
53:07
[SPEAKER_01]: Yeah, yeah, yeah.
53:09
[SPEAKER_01]: How many deals could you do right now if you only had to put 1% down?
53:12
[SPEAKER_01]: Sheesh.
53:13
[SPEAKER_01]: 3% down.
53:14
[SPEAKER_01]: You see, but it's because it's affordable housing and you got you got special loan programs that aren't in any other market because the government helped set up those extra loan programs, these CDFIs helped set up those extra loan programs because it's such a huge need.
53:31
[SPEAKER_00]: Yeah, yeah.
53:32
[SPEAKER_00]: Woo, I'm like, I'm like, see, it's like I'm like, overwhelmed right now because like
53:42
[SPEAKER_00]: because you mentioned earlier, like you could also do this with commercial buildings and things that nature, right?
53:49
[SPEAKER_00]: How does that work?
53:50
[SPEAKER_00]: Because, and I'm asking for selfish reasons because, you know, right now, we are in the abundance content studios, right?
53:59
[SPEAKER_00]: You know, and at least this place out, you know, you know, I got a whole spot that I'm going to do a whole conference since
54:09
[SPEAKER_00]: I want to see what schools the government has because a school will be don't for me to, um, yes, I want to create affordable housing, but I wonder about the commercial piece.
54:20
[SPEAKER_00]: Could I, and you, you'll let me know, could I get a building, let's just say, whether it's a school or whether it's a building that has commercial space, what's the rule around the commercial space?
54:31
[SPEAKER_00]: Could I occupy the commercial space and still build affordable housing like how, like how does
54:38
[SPEAKER_01]: Yeah, so you would want to look at, like, mix use project.
54:41
[SPEAKER_01]: Okay.
54:41
[SPEAKER_01]: So when you got commercial with residential, it's a mixed use project.
54:45
[SPEAKER_01]: Yeah.
54:46
[SPEAKER_01]: And so when you do a mixed use project, it's major opportunity.
54:48
[SPEAKER_01]: And it's major opportunities.
54:50
[SPEAKER_01]: Especially if in the mixed use, you know, you do businesses that complement or complement each other.
54:55
[SPEAKER_01]: You put a dialysis center on the first floor and put a senior living facility on the floors, you know, three-do fall.
55:02
[SPEAKER_01]: Yeah.
55:03
[SPEAKER_01]: You know, you're cooking with gas, so you put
55:05
[SPEAKER_01]: some community stakeholder programs, some nonprofits in the storefront or some schools and some satellite campuses for the university and your storefront and put affordable housing.
55:15
[SPEAKER_01]: This of recipe, brother, I got the application like this.
55:18
[SPEAKER_00]: I see what you're doing.
55:19
[SPEAKER_01]: You put together the application like this is going to get a lot of approvals.
55:24
[SPEAKER_01]: But you want to focus on like mixed use development.
55:27
[SPEAKER_01]: Commercial first floor and then affordable housing residential units above.
55:34
[SPEAKER_01]: You usually get into things like we call it TODs.
55:38
[SPEAKER_01]: I transit oriented development, TODs.
55:41
[SPEAKER_01]: These are areas that usually got storefronts, that's near train stations, that's near bus deposed.
55:47
[SPEAKER_01]: If you win a TOD section right now, and you trying to affordable housing?
55:52
[SPEAKER_01]: Yeah.
55:53
[SPEAKER_01]: Brother, the government is going to give you a whole bunch of tools and resources.
55:57
[SPEAKER_01]: One, they're going to let you build bigger buildings.
56:00
[SPEAKER_01]: If you got to make shoes building, that's in a TOD.
56:03
[SPEAKER_01]: They're going to let you do something called a density bonus.
56:06
[SPEAKER_01]: So, instead of just having that store on the first floor and five apartments upstairs, they'll say, oh, you're in a TOD, you apply for something called a density bonus because you're doing affordable housing and you in a TOD, yeah, instead of letting you do five apartments upstairs, they'll let you do 15.
56:22
[SPEAKER_01]: So now instead of doing that store in five units you're doing that store in 15 units.
56:27
[SPEAKER_01]: Instead of you doing that store front or doing that commercial space and building three stories on the top of your building, you want to transit where you're in a development zone.
56:36
[SPEAKER_01]: Are you apply for a density bonus?
56:39
[SPEAKER_01]: Yeah.
56:39
[SPEAKER_01]: They don't let you put six stories on top of your doors.
56:42
[SPEAKER_01]: That'll let you put more units in your building.
56:44
[SPEAKER_01]: And they give you grants and laws, so do, to do it.
56:47
[SPEAKER_01]: Listen, it's, it's, it's, it's, uh, this levels to this, right?
56:50
[SPEAKER_01]: First level order.
56:51
[SPEAKER_01]: First layer, I should say, is layers to this.
56:53
[SPEAKER_01]: Yeah, yeah, yeah, yeah.
56:54
[SPEAKER_01]: First thing is, I'm gonna TOD.
56:56
[SPEAKER_00]: Yeah.
56:56
[SPEAKER_01]: I'm gonna, I'm gonna get the, the density bonus.
56:58
[SPEAKER_01]: I'm gonna get them to let me go to extra three floors.
57:00
[SPEAKER_01]: And let them let me add the extra 15 units.
57:04
[SPEAKER_01]: Second thing I'm going to do is then I'm going to start also adding in the add in the grants.
57:09
[SPEAKER_01]: I'm going to apply for grants at a specific for transit oriented development.
57:14
[SPEAKER_01]: Or grants out there that specifically focusing on transit oriented development.
57:18
[SPEAKER_01]: There's those loans out there that's focused specifically on transit oriented development.
57:24
[SPEAKER_01]: There's also things in commercial areas like something that's called tiff money.
57:29
[SPEAKER_01]: This is text incremental financing.
57:31
[SPEAKER_01]: All right.
57:31
[SPEAKER_01]: I'm giving you a lot of dress.
57:33
[SPEAKER_00]: Listen to this.
57:34
[SPEAKER_00]: Listen to this.
57:35
[SPEAKER_00]: Yeah.
57:35
[SPEAKER_00]: Listen to this.
57:36
[SPEAKER_00]: I don't get you.
57:38
[SPEAKER_00]: Listen to this.
57:39
[SPEAKER_01]: Incremental finance.
57:40
[SPEAKER_01]: Yeah.
57:40
[SPEAKER_01]: The government will give you money.
57:43
[SPEAKER_01]: to improve the streets, then improve the infrastructure, then improve your building, contact incremental financing, to be able to do that, make shoes commercial building.
57:53
[SPEAKER_01]: Don't give you a loan to make all of those fixes, things that's going to cost you hundreds of thousands of dollars.
57:58
[SPEAKER_01]: And instead of having you pay it out your own pocket, they'll take the future taxes that they're new building.
58:04
[SPEAKER_01]: There's going generate 10 years, 10, 20 years down the line.
58:08
[SPEAKER_01]: And oh, let's you use that money, cover your debt on those improvements that you made in the past day.
58:14
[SPEAKER_00]: And you know, it's funny that you say that, man, I'm telling you because like you've been in the game 21 years when I talk about the churches, I talk about like there's so many people in our community that
58:27
[SPEAKER_00]: now it makes sense how they're doing this.
58:30
[SPEAKER_00]: Because there's a lot of people in our community who run nonprofits, who like churches, things at that nature, who are developing properties.
58:38
[SPEAKER_00]: And I'm like, we are getting the money to do this, right?
58:42
[SPEAKER_00]: And in my hand, I'm making up these stories.
58:44
[SPEAKER_00]: But they're not telling you, nobody's telling you.
58:48
[SPEAKER_00]: And so you don't know that this actually exists.
58:51
[SPEAKER_00]: You don't know that, I mean, there's a lot of people
58:56
[SPEAKER_00]: who are doing great work that could benefit from this, right?
59:02
[SPEAKER_00]: And they're struggling to do the work that they're doing, but imagine if they knew about this and they could, you know, they could do affordable housing.
59:11
[SPEAKER_00]: And that's the other piece of it, and we didn't even talk about this, but once they do the affordable housing,
59:18
[SPEAKER_00]: That cash law goes back to the person who owns it.
59:20
[SPEAKER_00]: No, like, what happens to the money?
59:23
[SPEAKER_00]: Like, like, like, if you, if I got a 15 unit of affordable housing unit,
59:27
[SPEAKER_00]: that I've really didn't pay nothing for, right?
59:30
[SPEAKER_00]: The money that comes in, even if they own a voucher, I still get, I still get that money though.
59:36
[SPEAKER_01]: You gonna make the money, brother, we need to cup the overflow.
59:38
[SPEAKER_01]: All right.
59:39
[SPEAKER_01]: So you're gonna make the money.
59:40
[SPEAKER_01]: All right.
59:41
[SPEAKER_01]: And you know, the thing about it is like, you're gonna get help from the government.
59:45
[SPEAKER_01]: Yep.
59:45
[SPEAKER_01]: You're gonna charge less.
59:46
[SPEAKER_01]: Yeah.
59:47
[SPEAKER_01]: For those rentals.
59:48
[SPEAKER_01]: But the extra money you get from the government is gonna help offset.
59:51
[SPEAKER_01]: Right.
59:51
[SPEAKER_01]: So it makes the deal work and you still gonna make it.
59:53
[SPEAKER_00]: And so the government gives you money,
59:56
[SPEAKER_00]: Because it's affordable housing, like are you saying Section 8?
1:00:00
[SPEAKER_00]: Are you saying vouchers like the, like, let's just say, and I'm just talking market rate, right?
1:00:06
[SPEAKER_00]: Let's just say, I go back to Harlem.
1:00:09
[SPEAKER_00]: I build a building, you know, affordable housing.
1:00:12
[SPEAKER_00]: I get, I get the building for a nominal fee.
1:00:15
[SPEAKER_00]: The government helps me with the construction costs.
1:00:18
[SPEAKER_00]: Now it's worth open for business.
1:00:20
[SPEAKER_00]: I have a 15-unit, you know, apartment, the market rate, let's just say in Harlem, for a two-bedroom, is probably because it's gentrified now, it's probably like 3,000 a month, right?
1:00:33
[SPEAKER_00]: Because I have to make it affordable, am I renting it for a thousand or 2,000?
1:00:40
[SPEAKER_00]: Does the government give me the difference to make it 3,000?
1:00:44
[SPEAKER_00]: Like, how does that work?
1:00:45
[SPEAKER_01]: So it varies, right?
1:00:47
[SPEAKER_01]: So there's a bunch of different programs.
1:00:48
[SPEAKER_01]: Right.
1:00:49
[SPEAKER_01]: Section 8 is just wonderful.
1:00:51
[SPEAKER_01]: Yeah.
1:00:51
[SPEAKER_01]: There's over like 70 different programs.
1:00:53
[SPEAKER_01]: 7 0, 7 0, total.
1:00:56
[SPEAKER_01]: Section 8, you talking about housing vouchers for veterans and seniors.
1:01:00
[SPEAKER_01]: But people with disabilities, intellectual disabilities, physical disabilities, you guys, programs with people that's living with HIV, like this, there's so many different programs, it's like over 70 programs.
1:01:14
[SPEAKER_01]: You get guarantee payments or government or community help for people to be able to buy houses from you.
1:01:20
[SPEAKER_01]: Yeah.
1:01:21
[SPEAKER_01]: Yeah.
1:01:22
[SPEAKER_01]: It's a loaded answer, right?
1:01:24
[SPEAKER_01]: So you may have that building that might be written in the straight through a voucher-based program.
1:01:29
[SPEAKER_01]: Sure.
1:01:29
[SPEAKER_01]: And Section 8 voucher is paying you, they're giving you the $3,000.
1:01:33
[SPEAKER_01]: Yeah.
1:01:34
[SPEAKER_01]: You're making the $3,000, but the person who's written it from you, they have a voucher that's covering 80%, 90%, or 100% of they've written.
1:01:41
[SPEAKER_01]: So the government's giving you three.
1:01:43
[SPEAKER_01]: Yeah.
1:01:44
[SPEAKER_01]: Well, the voucher payer, the person that needs to help might only be paying, you know, a few hundred bucks are that $3,000.
1:01:49
[SPEAKER_01]: So that's, that's if you did a voucher approach.
1:01:52
[SPEAKER_01]: Yeah.
1:01:52
[SPEAKER_01]: But maybe you use something like a tax credit program.
1:01:55
[SPEAKER_01]: Yeah.
1:01:57
[SPEAKER_01]: And instead of you having to worry about making $3,000, you only charge in them $900 a month.
1:02:05
[SPEAKER_01]: But you like a 900 a month, JP, I'm not going to make no money.
1:02:07
[SPEAKER_01]: Right.
1:02:08
[SPEAKER_01]: That's why they had the home fund program that gives you $50,000 to 100,000 per unit.
1:02:14
[SPEAKER_00]: That extra 100 K per unit is going to bounce it all out.
1:02:19
[SPEAKER_01]: They're like a hand-to-text credit program, correct?
1:02:21
[SPEAKER_01]: Because they're actually $3 million, $5 million towards your project.
1:02:24
[SPEAKER_01]: The spring got to come out of your own project.
1:02:25
[SPEAKER_00]: Sure, sure, sure.
1:02:26
[SPEAKER_01]: You divide that by your unit, you're gonna be like, oh, this math, this math, math, that's like not the community development block brand.
1:02:33
[SPEAKER_01]: That's why they got these preservation programs that will give you a whole bunch of money towards the down payment to buy it, because it helps all set your costs.
1:02:41
[SPEAKER_01]: So you might only make 900, but you got a hundred K per unit on the front end, plus you own the bill, then plus you get the cash flow, plus you own the equity.
1:02:49
[SPEAKER_00]: Yeah.
1:02:49
[SPEAKER_01]: So, so,
1:02:51
[SPEAKER_01]: it just like case by case you might go voucher approach and get it all or you might go subsidy on the front and you got five million dollars towards that hundred unit building you on but the number still the math still man so so I so I have a nonprofit organization called bundan's code and we we you know teach financial literacy to formally incarcerated been a women right um
1:03:13
[SPEAKER_00]: If I wanted to open up, let's say halfway house, or something that houses, formerly in Crusher and Men and Women, could I do this using this?
1:03:21
[SPEAKER_01]: Heck yeah.
1:03:21
[SPEAKER_01]: All right.
1:03:22
[SPEAKER_01]: Grams and subsidies right now for people that are coming out of reentry entry, right?
1:03:27
[SPEAKER_01]: I mean, you got reentry programs, do, you know, department of corrections?
1:03:30
[SPEAKER_01]: Yep.
1:03:31
[SPEAKER_01]: you get a contract directly with the Department of Corrections Potentially.
1:03:34
[SPEAKER_01]: You get it with you know the Department of Human Services or you know you could get it through homelessness agencies like OHP, the Office of Homeless Prevention, ODP, the Office of Disabled Person, people with disabilities disabled persons and people that are in reentry status that fit.
1:03:53
[SPEAKER_01]: You know, you got people come in from re-entry, they got kids.
1:03:56
[SPEAKER_01]: Right.
1:03:56
[SPEAKER_01]: You might get it through, you know, some sort of service program.
1:04:00
[SPEAKER_01]: You got people at the end of a homelessness do re-entry.
1:04:02
[SPEAKER_01]: You get your money through homelessness programs.
1:04:06
[SPEAKER_01]: You know, we call it continuum of care money.
1:04:08
[SPEAKER_00]: Yeah, yeah.
1:04:09
[SPEAKER_01]: Or you might have somebody that's coming through this.
1:04:11
[SPEAKER_01]: You might have a straight contract with the Department of Corrections and you to set up a straight half wheel right arm or you might set up some of the regular with Medicaid Your seniors that's coming home from you know reentry and I'm saying so it's it's layers is different buckets It's so many different ways you can approach you
1:04:30
[SPEAKER_00]: Alright, so now somebody watch it right now.
1:04:33
[SPEAKER_00]: So first of all, y'all, this is a master class.
1:04:36
[SPEAKER_00]: When I tell you, I'm going to rewind this.
1:04:39
[SPEAKER_00]: I need to rewatch this.
1:04:40
[SPEAKER_00]: I need to zig-zag some utter notes.
1:04:42
[SPEAKER_00]: So I can note a first step.
1:04:45
[SPEAKER_00]: Talk a little bit about how you are helping people gain this knowledge, right?
1:04:50
[SPEAKER_00]: Because do you have a mentorship?
1:04:53
[SPEAKER_00]: Are you doing programs?
1:04:54
[SPEAKER_00]: Like, you know, somebody right now is watching.
1:04:56
[SPEAKER_00]: They like yo.
1:04:58
[SPEAKER_00]: J.P. just gave our hell of game.
1:05:00
[SPEAKER_00]: He know what he's talking about.
1:05:02
[SPEAKER_00]: I need to be under his guidance, I need to be under his mentorship, like how they connected with you.
1:05:09
[SPEAKER_00]: What you got going on?
1:05:10
[SPEAKER_00]: Yeah, so we got a lot going on, man.
1:05:12
[SPEAKER_01]: I mean, this education piece is like this my mission, man.
1:05:15
[SPEAKER_01]: Yeah, this is the giveback.
1:05:16
[SPEAKER_01]: We keep the blessing by sharing the blessing.
1:05:19
[SPEAKER_00]: Sure.
1:05:19
[SPEAKER_01]: And, you know, we want to make sure that people are aware.
1:05:22
[SPEAKER_00]: Yeah.
1:05:22
[SPEAKER_01]: People have access.
1:05:23
[SPEAKER_00]: Yeah.
1:05:26
[SPEAKER_01]: It starts with us being in a position to change something.
1:05:28
[SPEAKER_01]: That's right.
1:05:29
[SPEAKER_01]: So that's why we saw passing it about sharing this knowledge.
1:05:31
[SPEAKER_01]: And I don't get you, but I'd give it all the way because God won't bring it back ten times.
1:05:35
[SPEAKER_01]: That's all right.
1:05:36
[SPEAKER_01]: And so like we got a few different ways of going, go about working with us.
1:05:40
[SPEAKER_01]: One, we got a free master class that we're running right now.
1:05:44
[SPEAKER_01]: That breaks all these things we talking about a little bit more structure for sure.
1:05:47
[SPEAKER_01]: You know, a little bit step by step by step.
1:05:49
[SPEAKER_01]: It's a free master class.
1:05:50
[SPEAKER_01]: Yeah.
1:05:51
[SPEAKER_01]: All you got to do is go with the buyback to blockmasterclass.com.
1:05:56
[SPEAKER_01]: We also got a training coming up.
1:05:57
[SPEAKER_01]: It's a whole week, it's a whole week training.
1:06:01
[SPEAKER_01]: It's $297.
1:06:03
[SPEAKER_01]: It's worth, I've heard $30,000 of hair people say, go to some of the reviews, you know, like, you know, it's a doctor at the grief of $297,000 for their housing, or, you know, you go to bibecktheblockchallenge.com.
1:06:15
[SPEAKER_01]: Yep.
1:06:16
[SPEAKER_01]: And we're going to be hosting that July 12th.
1:06:18
[SPEAKER_01]: all the way through July 18th, this seven straight days, step by step, breaking this all down, Q&A sessions, homework, study guides, like to really make sure people can execute on this when they're done.
1:06:31
[SPEAKER_01]: And I also don't came bearing some gifts too, because you know, I always want to be that gift that keeps on giving.
1:06:37
[SPEAKER_01]: You know, I'm allowed to give out the information.
1:06:39
[SPEAKER_01]: I love to be able to connect people with some resources too.
1:06:41
[SPEAKER_01]: So if you text the word vault,
1:06:46
[SPEAKER_01]: to eight, four, four, seven, one, seven.
1:06:50
[SPEAKER_01]: I'm going to give you some free from some free training and educational materials, because that's going to help you to better understand that affordable housing space, how to speak the language, how to work with contractors that can help you build it and put you in a position of strength.
1:07:04
[SPEAKER_01]: Yeah, and so, and so I appreciate that.
1:07:08
[SPEAKER_00]: I need everybody to tap in.
1:07:10
[SPEAKER_00]: The one, you know, you was giving me so much knowledge and I didn't actually question that I think everybody wants to ask, can you make millions of dollars doing this?
1:07:21
[SPEAKER_00]: Listen, man, I say this, I'm blessed and highly favored.
1:07:24
[SPEAKER_01]: I've done really well in construction, but the affordable housing space has been something that has brought that service in that mission work and alignment, but I've done very, very well.
1:07:37
[SPEAKER_01]: There are people that make a millions of dollars doing this.
1:07:39
[SPEAKER_01]: We want to make sure that these millions of dollars vote to our community, the residential real estate market is a 43 and a half trillion dollar market.
1:07:47
[SPEAKER_01]: It's a 43.
1:07:48
[SPEAKER_01]: with a trillion with a T right right right the residential affordable housing space of people that are caused burden and need help is a roughly 13 trillion dollar market to my 13 trillion dollar market you think you can make a million dollars a 10 million dollars and a 13 trillion dollar more 1,000 percent because but look he's just a context though right is that a billion dollars is a thousand millions
1:08:16
[SPEAKER_00]: A trillion is 1,000 billions, which I'm going to point zero, zero, zero, zero, zero.
1:08:23
[SPEAKER_01]: So to make a million in a space, you know, is very, very real.
1:08:28
[SPEAKER_01]: Let's scale your business up and help them people in the process.
1:08:32
[SPEAKER_01]: Does the brother named Don Peibus, why don't her?
1:08:34
[SPEAKER_01]: Don Peibus went into largest black, real estate developers in the country.
1:08:37
[SPEAKER_01]: Yeah, yeah.
1:08:38
[SPEAKER_01]: We got a book called Peibus Principles.
1:08:39
[SPEAKER_01]: Mm-hmm.
1:08:41
[SPEAKER_01]: when it's since the 90's.
1:08:42
[SPEAKER_01]: She talks about it.
1:08:43
[SPEAKER_01]: I do, and the people's principles.
1:08:45
[SPEAKER_01]: It was his first real estate do.
1:08:47
[SPEAKER_01]: Yeah.
1:08:47
[SPEAKER_01]: He became a multi-millionaire on his first real estate do.
1:08:51
[SPEAKER_01]: First do, using everything we've been talking about today.
1:08:54
[SPEAKER_01]: If you were your book, you got a book?
1:08:56
[SPEAKER_01]: It's coming.
1:08:56
[SPEAKER_01]: You need them both coming soon.
1:08:57
[SPEAKER_01]: Yeah, yeah, yeah, yeah, yeah, yeah.
1:08:58
[SPEAKER_01]: It's coming soon.
1:08:59
[SPEAKER_00]: Yeah, yeah, yeah, yeah, yeah.
1:09:00
[SPEAKER_00]: It's coming soon.
1:09:00
[SPEAKER_00]: Yeah, yeah, yeah, yeah.
1:09:01
[SPEAKER_00]: It's coming soon.
1:09:02
[SPEAKER_00]: Yeah, yeah, yeah, yeah.
1:09:03
[SPEAKER_01]: It's coming soon.
1:09:03
[SPEAKER_01]: Yeah, yeah, yeah, yeah.
1:09:04
[SPEAKER_00]: It's coming soon.
1:09:05
[SPEAKER_00]: Yeah, yeah, yeah, yeah.
1:09:06
[SPEAKER_01]: It's coming soon.
1:09:06
[SPEAKER_01]: It's coming soon, yeah, yeah, yeah.
1:09:10
[SPEAKER_00]: And I appreciate the service we need the housing.
1:09:12
[SPEAKER_00]: Yeah, well, we haven't been in those rooms.
1:09:15
[SPEAKER_00]: That's the fact.
1:09:16
[SPEAKER_00]: And I think, and I think that's what I love about this.
1:09:21
[SPEAKER_00]: And this is like a breath of fresh air because to be honest with you, most opportunities, if you will, where people make a lot of money, or whatever the case may be, a lot of it becomes self-serving where the only thing you're doing is making money and somebody else is losing.
1:09:38
[SPEAKER_00]: But in this particular case, it's like, this is like the best of both worlds, like you get to serve as such a high level and make money as such a high level that
1:09:51
[SPEAKER_00]: Like, this is a business and blessing model that anybody should be running.
1:09:56
[SPEAKER_01]: And bro, it is very tangible, right?
1:09:59
[SPEAKER_01]: Like, we got a project right now in West Filly.
1:10:02
[SPEAKER_01]: It's a $25 million project.
1:10:04
[SPEAKER_01]: It's put in $14 million of equity.
1:10:07
[SPEAKER_01]: Straight generation of wealth.
1:10:09
[SPEAKER_01]: Everybody that buys these houses that were selling is getting $150,000 plus an equity.
1:10:14
[SPEAKER_00]: Wow.
1:10:14
[SPEAKER_01]: So we literally put in $14 million worth of equity straight into the community.
1:10:19
[SPEAKER_01]: On the development front, we got nine black and brown developers that are developing these houses.
1:10:25
[SPEAKER_01]: Making millions of dollars in developing these houses.
1:10:28
[SPEAKER_01]: Yeah.
1:10:29
[SPEAKER_01]: So we put equity on the whole ownership sign.
1:10:31
[SPEAKER_00]: Yeah.
1:10:32
[SPEAKER_01]: And we got black and brown developers making millions of dollars that live in the community, higher in the community, got moms, brothers, sisters, cousins in the community.
1:10:41
[SPEAKER_01]: Yeah.
1:10:41
[SPEAKER_01]: Yeah.
1:10:42
[SPEAKER_01]: Like the ecosystem and the economic base that could be created from this.
1:10:48
[SPEAKER_00]: painting.
1:10:48
[SPEAKER_00]: Wow.
1:10:49
[SPEAKER_00]: Well, you've enjoyed that challenge, Roddy.
1:10:51
[SPEAKER_00]: I need to tap it because I got so many ideas.
1:10:56
[SPEAKER_00]: I have so many people that I want to serve to be honest with you in the truth of the matter, is that part of that service, I kind of felt like, you know, and that's part of a reason why I kind of shot away from even the nonprofit space because I'm like, I'm at the beggin borrow, you know what I'm saying?
1:11:13
[SPEAKER_00]: But in the, in order to do this,
1:11:17
[SPEAKER_00]: Get a property and nominal fee.
1:11:19
[SPEAKER_00]: I'm getting equity in that property.
1:11:21
[SPEAKER_00]: I'm serving my community.
1:11:23
[SPEAKER_00]: I'm making money from the community that I can now also just put back into the community.
1:11:29
[SPEAKER_00]: That's like a win-win in all levels.
1:11:31
[SPEAKER_01]: It's a win-win win-win.
1:11:32
[SPEAKER_01]: When you think from that win-win, win-win mindset?
1:11:34
[SPEAKER_01]: Yeah, yeah, government wins.
1:11:37
[SPEAKER_01]: the community wins you win yeah that's like that's the that's the that's the triangle right there are and and just some food for thought right yeah the best non-profits everybody thinks non-profit means you don't make any money you are not profit means you don't net any money right or you know you as a as a CEO are pocket in you know the difference right but the organization isn't netting the money it's going back into the organizational budget right yeah
1:12:02
[SPEAKER_01]: The best nine profits, though, make money right from social enterprise, you know, or from different earned revenue from different services.
1:12:13
[SPEAKER_01]: Same thing.
1:12:14
[SPEAKER_00]: Yeah.
1:12:14
[SPEAKER_01]: How's the nine profits that are making the money?
1:12:16
[SPEAKER_01]: Yeah.
1:12:17
[SPEAKER_01]: Habitat for you.
1:12:18
[SPEAKER_00]: Right.
1:12:18
[SPEAKER_01]: It's right.
1:12:19
[SPEAKER_01]: That's a thing that I mean, you wanted to bigger sell the biggest that they're serving.
1:12:22
[SPEAKER_01]: Yeah.
1:12:23
[SPEAKER_01]: Do doing it.
1:12:23
[SPEAKER_01]: Yeah.
1:12:24
[SPEAKER_01]: And so the same concept can be applaud.
1:12:26
[SPEAKER_01]: Yeah.
1:12:26
[SPEAKER_01]: Whether it's for profit or nine profit.
1:12:28
[SPEAKER_01]: Yeah.
1:12:29
[SPEAKER_01]: And the one thing I just want to know and I'm going to let you take a saw is that you can be for profit doing this.
1:12:34
[SPEAKER_01]: Yeah, the government needs for profits to do this because for profits, they can scale, they can move fast, right?
1:12:40
[SPEAKER_01]: You get things done, they can move it at high volume.
1:12:42
[SPEAKER_01]: Yeah, yeah, yeah, yeah, yeah.
1:12:43
[SPEAKER_01]: So for profit,
1:12:45
[SPEAKER_01]: the whole bunch of opportunities.
1:12:47
[SPEAKER_01]: 90% of this stuff I do is for profit.
1:12:49
[SPEAKER_01]: Yeah, yeah, yeah.
1:12:49
[SPEAKER_01]: Nine profits.
1:12:50
[SPEAKER_01]: Yeah.
1:12:51
[SPEAKER_01]: So a whole bunch of opportunities too.
1:12:52
[SPEAKER_01]: So if you're a non-profit, there's grants that are only available to nine profits.
1:12:57
[SPEAKER_00]: Yeah.
1:12:57
[SPEAKER_01]: This houses that are only available to nine profits, laying it's own, it don't matter what size your own dough, as long as you help in serving and creating solutions for affordable housing.
1:13:07
[SPEAKER_01]: You're green.
1:13:08
[SPEAKER_00]: Man, JP, I love it, man.
1:13:12
[SPEAKER_00]: Is there anything, cause you gave a lot of game, like a lot of game, right?
1:13:16
[SPEAKER_00]: Is there anything in this interview that I, a question I didn't ask or some gems that you wanna give that you like yo, I wanna make sure I tell them about this?
1:13:27
[SPEAKER_01]: I mean, the biggest thing I would just tell y'all is just look around and pay attention, yeah.
1:13:33
[SPEAKER_01]: Go research public private partnerships.
1:13:36
[SPEAKER_01]: Go to Google, public private partnerships for affordable housing where you live.
1:13:40
[SPEAKER_01]: Put the work, put the name where you live.
1:13:42
[SPEAKER_01]: Why's what pops up?
1:13:43
[SPEAKER_01]: 20 million, 50 million, five million out of projects going on all around you.
1:13:49
[SPEAKER_01]: We want to make sure that people get access today.
1:13:51
[SPEAKER_01]: Go do your research though.
1:13:52
[SPEAKER_01]: I want you to go and look up affordable housing budgets, putting your city.
1:13:56
[SPEAKER_01]: And put what is affordable housing budget for my city?
1:13:59
[SPEAKER_01]: And Philadelphia, my city, we got $2 billion
1:14:04
[SPEAKER_01]: and New York $2,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
1:14:32
[SPEAKER_01]: and then get with individuals like us to get with individuals who was from your community and become a part of this solution.
1:14:38
[SPEAKER_01]: Right.
1:14:39
[SPEAKER_01]: The other thing I would tell you all to do is go look up the roads the housing act.
1:14:43
[SPEAKER_01]: There's a bill that's sitting on the president's desk right now.
1:14:46
[SPEAKER_01]: He playing around, he not signing it.
1:14:50
[SPEAKER_01]: Revolutionary bill.
1:14:51
[SPEAKER_01]: Republicans Democrats both voted on it.
1:14:53
[SPEAKER_01]: It's about to make affordable housing.
1:14:56
[SPEAKER_01]: A lot more easy to do, more funding, manufacturing housing, like the government is rolling out the red carpet for this.
1:15:03
[SPEAKER_01]: There's about to be way more funded in the space, there's about to be way more opportunities in the space.
1:15:07
[SPEAKER_01]: And the last thing I would tell you all to do is, go look up your local zone in the laws right now.
1:15:13
[SPEAKER_01]: Look up your zone in changes and put zone in changes for affordable housing.
1:15:19
[SPEAKER_01]: they letting you add units to your building that you can add last year.
1:15:24
[SPEAKER_01]: The zone of change is the government saying you owe to so many problems in affordable housing.
1:15:28
[SPEAKER_01]: That single family helps you own.
1:15:30
[SPEAKER_01]: We're going to let you perform apartments in it now because our law will more density.
1:15:34
[SPEAKER_01]: because they know that we need more units, more houses.
1:15:37
[SPEAKER_01]: And it's like a homeless this problem everywhere.
1:15:40
[SPEAKER_01]: Like, they change his own laws.
1:15:41
[SPEAKER_01]: They'll let you take your single family house and turn it into four units right now.
1:15:44
[SPEAKER_01]: And get the cash flowing, make a money in helping people.
1:15:48
[SPEAKER_00]: They change his own laws.
1:15:49
[SPEAKER_00]: They add in things like ADUs, accessory dwelling.
1:15:52
[SPEAKER_00]: Yeah, I remember seeing that.
1:15:53
[SPEAKER_00]: Like, people building houses in the backyard.
1:15:56
[SPEAKER_01]: Yo, they land you bill houses in your backyard.
1:15:59
[SPEAKER_01]: They land you bill extra apartments in your addicts now.
1:16:02
[SPEAKER_01]: They land you bill extra apartments in your basement.
1:16:04
[SPEAKER_01]: So your mother's house that you own because this might be your own mother that needs some hot weather for the boys Right, right, right, right Add to 80 you took go look up the zone of laws where you live look at 80 use spend 60 grand add to the 80 you 40 grand add in the 80 you to your mother's basement So she got some cash flow coming in These zone of laws are making it easy both now you can put three houses on one lot that you only need to be able to put one on Take your lot that you own
1:16:29
[SPEAKER_01]: Supp to Molly, right?
1:16:31
[SPEAKER_01]: So those two lots, so you could send your kids to college, start a business, and build your families legacy, and your family's net worth, right?
1:16:38
[SPEAKER_01]: So yeah, man, oh, one last thing, I gotta get this, I gotta get this, I gotta get this though, because the development piece is big, right?
1:16:47
[SPEAKER_01]: Yeah, yeah, yeah.
1:16:47
[SPEAKER_01]: But I wanna make sure that we help people where they need it to in our community that are needing to buy houses, right?
1:16:55
[SPEAKER_01]: Um, you may be somebody that needs a affordable home and you're looking for the help, right?
1:17:00
[SPEAKER_01]: There's programs that I want you to look up.
1:17:03
[SPEAKER_01]: If you need a affordable home right now in your community, I want you to look up.
1:17:07
[SPEAKER_01]: Home ownership programs, the key word, go put home ownership programs affordable housing in the Google where you live.
1:17:14
[SPEAKER_01]: The government programs right now that will give you up to $100,000 to a dollar towards buying your home.
1:17:22
[SPEAKER_01]: If you live there for five, 10 or 15 years because every program is different.
1:17:27
[SPEAKER_01]: Thank you, honey, K, that you don't have to pay back.
1:17:30
[SPEAKER_01]: If you stay there for five, 10 or 15 years, every state, every program should.
1:17:34
[SPEAKER_01]: So look up home ownership programs.
1:17:38
[SPEAKER_01]: tens of thousands of dollars towards taking at $300,000 a house that you can't afford and Giving you money so that you only got to buy it for 200,000 as long as you're staying in the home They call home ownership programs.
1:17:50
[SPEAKER_01]: They call mortgage Assistant programs the call mortgage bottom programs
1:17:57
[SPEAKER_01]: Look up these words where you live.
1:17:59
[SPEAKER_01]: The government will give you tens of thousands.
1:18:01
[SPEAKER_01]: And Philly, they got a program called Turn The Key.
1:18:03
[SPEAKER_01]: They gave him buyers $75,000 towards the purchase at their home.
1:18:09
[SPEAKER_01]: And after you lived there for that period of 15 years, that 75,000, he will never got to pay your back.
1:18:15
[SPEAKER_01]: They got programs in Rhode Island right now.
1:18:18
[SPEAKER_01]: They're giving people $190,000 towards a home.
1:18:21
[SPEAKER_01]: Yes.
1:18:22
[SPEAKER_01]: As long as you live there for 10 years, you don't have to pay your back.
1:18:25
[SPEAKER_01]: So there's some major tools and some major resources out there for y'all through home ownership, mortgage assistance, or mortgage body on affordable housing programs.
1:18:34
[SPEAKER_01]: They'll give you money towards taking that expensive house making it less expensive that you don't have to, and you won't have to pay your back as long as you stay.
1:18:41
[SPEAKER_01]: But a certain amount of period of time,
1:18:42
[SPEAKER_01]: those grants out there, first time homebuyer grants, people that we sell houses to they get in the $75,000 in the system, then they get in the first time mortgage, first time homebuyer grant, another $10,000, then they get another grant from the $5,000 from here, people are getting $100,000 towards their homes for these programs, and nothing having to pay you back.
1:19:03
[SPEAKER_00]: Wow.
1:19:04
[SPEAKER_00]: It's a game.
1:19:04
[SPEAKER_00]: It's a game changer for the community.
1:19:06
[SPEAKER_00]: And it's a game changer that we just need to know about because I'm sure there are all other cultures, there are other people who understand and understand it and that building wealth where we are struggling and we don't think that to be honest because you know our community are we're in time to government.
1:19:26
[SPEAKER_00]: You don't have to say it, and so now there are regardless of who's in the office, there are programs and services that can help you that we need to take advantage of.
1:19:34
[SPEAKER_00]: 100%.
1:19:36
[SPEAKER_01]: I was just talking to the brother that Uber me over here.
1:19:38
[SPEAKER_01]: I was telling him, you know what you're about to do?
1:19:39
[SPEAKER_01]: I'm like, game the breakdown.
1:19:40
[SPEAKER_01]: I'm like, you know what the son called a home ownership program.
1:19:43
[SPEAKER_01]: Look it up.
1:19:44
[SPEAKER_00]: Yeah, yeah.
1:19:44
[SPEAKER_01]: It's in the land.
1:19:45
[SPEAKER_01]: Yeah, yeah, yeah, yeah, home ownership program.
1:19:46
[SPEAKER_01]: They giving you tens of thousands of dollars.
1:19:48
[SPEAKER_01]: You'll never have to pay back.
1:19:49
[SPEAKER_01]: He wrote it down and said, yo, you know what's crazy.
1:19:51
[SPEAKER_01]: I never heard of anything like that.
1:19:53
[SPEAKER_01]: We don't talk about stuff like this in the community.
1:19:56
[SPEAKER_01]: It's all these programs that we don't know nothing about it's all these it's all these development and affordable housing opportunities that we don't know nothing about Yeah, I'm not what we don't have is right don't know no, no, no, man
1:20:09
[SPEAKER_00]: J.P. for reading y'all, you know, listen, when I tell you this was a nasty class and affordable housing, real estate, well, and I'm glad that we had this conversation because again, if y'all didn't check out the episode with storm, he definitely made some great points about real estate, but there are other options, right, because even when I think about affordable housing, like me, I thought Section 8 was the only one.
1:20:32
[SPEAKER_00]: Well, let me say it's 70, there's 70 other programs out there that you could that for affordable housing.
1:20:38
[SPEAKER_00]: And so, yeah, I appreciate that, man, I appreciate that.
1:20:42
[SPEAKER_00]: If people want to connect with you, man, what can you find you?
1:20:44
[SPEAKER_00]: And we'll put all the links in the description.
1:20:47
[SPEAKER_00]: So make sure you're hit the description to get the links, but somebody wants to connect with it.
1:20:52
[SPEAKER_01]: The easiest way to get with me is, connect with me on Instagram.
1:21:00
[SPEAKER_01]: Frini is F-E-R-R-A-R-I-N-I, but once you put J-D-P and he starts spelling Frini is his gon' pop up, yes sir.
1:21:07
[SPEAKER_01]: I got Blue hoodie on with a blue hat, is it?
1:21:10
[SPEAKER_01]: Follow me on Instagram, that's a definitely great way to tap in or email me at
1:21:15
[SPEAKER_01]: info at bibecktheblockchallence.com.
1:21:18
[SPEAKER_01]: We buy him back the block.
1:21:19
[SPEAKER_01]: We reinvest in our community.
1:21:21
[SPEAKER_01]: And we be in the chains that we want to see.
1:21:23
[SPEAKER_01]: We're doing it from within.
1:21:24
[SPEAKER_01]: That's what this whole thing is about raising us awareness and making sure that we could leave this thing from the inside.
1:21:29
[SPEAKER_00]: Yeah, that's why I love, man, because like you want to us.
1:21:32
[SPEAKER_00]: You know what I'm saying?
1:21:34
[SPEAKER_00]: You see it, you can feel it, you hear it, the passion, and there's no stew show, you know what I'm saying?
1:21:40
[SPEAKER_00]: Because I think a lot of times when we think about, we think about the Dom Peoples, and we're like, all right, he's the only one, but now we out here, and that's the thing too, like we chasing your own, I want to be a billionaire, I want to be a billionaire, but some like I promise you, if you make a cool million, you're not going to be upset.
1:21:59
[SPEAKER_00]: Not going to be upset.
1:21:59
[SPEAKER_00]: Not going to be upset.
1:22:00
[SPEAKER_00]: Yo, so tap in, get this knowledge, implement the knowledge as well, and get a brother.
1:22:07
[SPEAKER_00]: I appreciate you, man.
1:22:08
[SPEAKER_00]: I don't promise.
1:22:09
[SPEAKER_00]: Yo, we are closing out the vote.
1:22:12
[SPEAKER_00]: Another awesome episode of Inside the Vote with Ashcast, the greatest money mindset show on the planet.
1:22:18
[SPEAKER_00]: Yo, make sure you, yo, shed is, tell a friend and tell a friend, go to our website, insidethevaltshow.com, follow us on all social media platforms at insidethevalt.
1:22:28
[SPEAKER_00]: Meet IMAXCash, make sure you visit me.
1:22:30
[SPEAKER_00]: IMAXCash.com, follow me on all social media platforms at IMAXCash, join the abundance community, go to theabunitscommunity.com.
1:22:39
[SPEAKER_00]: Yo, and I'll see you next time.
1:22:40
[SPEAKER_00]: Same time, same place in God's will.
1:22:44
[SPEAKER_00]: Peace!