Latest / Earn Your Leisure / EYL #208 SECRETS OF THE WEALTHY, REAL ESTATE INVESTING, & BECOMING AN EMPLOYED MILLIONAIRE

Transcript

EYL #208 SECRETS OF THE WEALTHY, REAL ESTATE INVESTING, & BECOMING AN EMPLOYED MILLIONAIRE · Earn Your Leisure

• 0:00
  Speaker 1: You just realized your business needed to hire someone yesterday.
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  Speaker 1: Indeed is all you need.
• 0:58
  Speaker 2: So I'm sitting there like, yes, you got it, I'm
• 1:01
  Speaker 2: gonna take the job. So I pulls off in my car,
• 1:04
  Speaker 2: but I wanted to double back to go buy my
• 1:06
  Speaker 2: partner to tell them look the jigs up like red
• 1:10
  Speaker 2: Rover nine or the jigs up.
• 1:12
  Speaker 3: So by the time I get over there, swat.
• 1:15
  Speaker 2: Cars, cops, barricades, and I pull over and I'm sitting
• 1:18
  Speaker 2: there with a trunk full of phones, and I'm going
• 1:21
  Speaker 2: defining moment, y'all, That's defining moment, Like all right, just
• 1:24
  Speaker 2: gotta pull off.
• 1:27
  Speaker 4: My graduates from my school being forced back. Drop bags drop, Mike,
• 1:33
  Speaker 4: drop bag drop.
• 1:46
  Speaker 5: All right, ey l we back home New York City.
• 1:49
  Speaker 5: This is a highly anticipated episode and it's one that
• 1:53
  Speaker 5: I'm sure a lot of people are gonna benefit from.
• 1:55
  Speaker 5: And I love telling these stories. Shout out to our
• 1:58
  Speaker 5: guy Jamal King. We kind of his story which he
• 2:01
  Speaker 5: was a police officer and became a millionaire while he
• 2:04
  Speaker 5: was working on a police force and started a bunch
• 2:06
  Speaker 5: of different businesses and made a bunch of money in
• 2:07
  Speaker 5: real estate and the whole non And I feel like
• 2:11
  Speaker 5: this story is kind of going to be in line
• 2:14
  Speaker 5: with that. But it's different, obviously because it's a different career,
• 2:16
  Speaker 5: different path, but more importantly has that same level of
• 2:21
  Speaker 5: hope because most people that are watching this are working
• 2:25
  Speaker 5: a regular job, and most people are, you know, that
• 2:28
  Speaker 5: blue collar, middle class, working class, whatever you want to
• 2:32
  Speaker 5: call it, trying to get to that millionaire status. Most
• 2:35
  Speaker 5: people haven't actually made their millions yet, but the goal
• 2:39
  Speaker 5: is to get to that point. So whenever we can
• 2:41
  Speaker 5: highlight people that come from that and actually were able
• 2:45
  Speaker 5: to do that while still actually, you know, working a
• 2:47
  Speaker 5: regular job. I think that it's not only educational, but
• 2:51
  Speaker 5: it's extremely motivational as well. Yeah, so Storm Leroy out
• 2:57
  Speaker 5: of Brooklyn, New York, correct Science, what part that style
• 3:02
  Speaker 5: we made?
• 3:04
  Speaker 6: This is a This is a first.
• 3:06
  Speaker 7: So a lot of times people walk up to us
• 3:08
  Speaker 7: and they tell us what they do in the business,
• 3:10
  Speaker 7: and we always are polite about listening, right because you
• 3:13
  Speaker 7: never know what somebody's idea could just be something that's
• 3:16
  Speaker 7: world changing. And usually it always ends with yeah, I'm
• 3:19
  Speaker 7: gonna be on the show, and I'll response. My response
• 3:22
  Speaker 7: to show is like, Yo, I can't wait. The sea's
• 3:24
  Speaker 7: gonna be waiting for you. So like, this is the
• 3:26
  Speaker 7: first time that I've said, Yo, the seat's gonna be
• 3:28
  Speaker 7: waiting for you, and the person has arrived in the seat,
• 3:31
  Speaker 7: So welcome, my brother.
• 3:32
  Speaker 2: I appreciate it. Man, This is this is definitely a moment,
• 3:36
  Speaker 2: you know what I mean. I've really been timing this
• 3:39
  Speaker 2: out to stay focused, Like I said, keep my head down,
• 3:42
  Speaker 2: keep doing what I'm doing. The intent, my intent will
• 3:45
  Speaker 2: lead to this moment and now it's happening, Like really,
• 3:48
  Speaker 2: I'm crazy.
• 3:49
  Speaker 6: Yeah yeah, man, yeah that's the grind.
• 3:52
  Speaker 8: Man.
• 3:52
  Speaker 6: We met what about over a year ago?
• 3:54
  Speaker 2: It was a year and eight months ago. I don't
• 3:56
  Speaker 2: know that was too specific.
• 3:59
  Speaker 6: It's on my calendar.
• 4:01
  Speaker 8: Yeah.
• 4:01
  Speaker 7: So we met at our brother Juvenar's event. Yes, sir,
• 4:04
  Speaker 7: we've been watching you grinding. See now you shoot me
• 4:07
  Speaker 7: to text. I'm like, yo, we see what's going on.
• 4:09
  Speaker 7: We see what's going on. And then we ran to
• 4:11
  Speaker 7: each other on the plane. Yes, and I was like,
• 4:13
  Speaker 7: that's the perfect time. We got this event that we're
• 4:16
  Speaker 7: doing in Atlanta. I think you want to be part
• 4:17
  Speaker 7: of it.
• 4:18
  Speaker 5: Yeah?
• 4:18
  Speaker 2: Yeah, that was That was That was a powerful moment
• 4:22
  Speaker 2: because I know it's like you had got off and
• 4:24
  Speaker 2: then I seen you like slow down and I'm like,
• 4:26
  Speaker 2: oh yeah, we could take this picture together. And then
• 4:28
  Speaker 2: you looked though it was like you ready. I was like, yeah,
• 4:31
  Speaker 2: I'm ready to take this picture. No, no, no, not
• 4:34
  Speaker 2: invest fast. I literally just stopped, come on, messed up forlone,
• 4:38
  Speaker 2: stop playing. He's like, no, seriously, are you ready? I said, yes,
• 4:41
  Speaker 2: let's do this. You're like it's done. Let's take this picture.
• 4:45
  Speaker 2: I mean that picture. If people look back at that
• 4:47
  Speaker 2: picture on my timeline, I'm showing that back tooth right there.
• 4:51
  Speaker 2: Super duper, you know what I mean.
• 4:53
  Speaker 3: So I appreciate that moment.
• 4:54
  Speaker 5: Man, I appreciate you for coming. The mighty, mighty invest
• 4:58
  Speaker 5: fast legendary hit situation. So you definitely played a part
• 5:01
  Speaker 5: in it. Thank you for coming. But even before that,
• 5:03
  Speaker 5: there was a viral moment where Ash Cash shouts brother
• 5:06
  Speaker 5: ash Cash, eyl network inside the vault your episode. This
• 5:10
  Speaker 5: is actually a lot to live up to it because
• 5:12
  Speaker 5: I don't know how top that came out the gate
• 5:17
  Speaker 5: with a five hundred thousand viewed you two. Yeah, that's
• 5:21
  Speaker 5: I think that's that's his biggest episode.
• 5:23
  Speaker 7: Definitely biggest episodes even on the networks. If you look
• 5:26
  Speaker 7: at the top uploads, it's still in the top ten.
• 5:28
  Speaker 6: Yeah.
• 5:29
  Speaker 2: Sure, I always checked too.
• 5:33
  Speaker 5: That's vague, man. So long story short, this is going
• 5:35
  Speaker 5: to be a throw episode. Thank you for coming. Appreciate it,
• 5:38
  Speaker 5: yeahah for sure. So all right, so let's get into this.
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  Speaker 5: I want to talk about the real estate. I want
• 5:42
  Speaker 5: to talk about entrepreneurship, I want to talk about all that.
• 5:44
  Speaker 5: But I want to start at the beginning, you were
• 5:46
  Speaker 5: working at Verizon, yes, sir, the Verizon man.
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  Speaker 2: The variety you were.
• 5:52
  Speaker 5: You were literally the Verizon man.
• 5:54
  Speaker 6: Yep.
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  Speaker 3: So all right, So.
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  Speaker 5: So how did that start, How how did this start
• 6:01
  Speaker 5: working with Verzon and at what point did you get
• 6:04
  Speaker 5: turned onto real estate.
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  Speaker 2: I started working for Verizon in nineteen ninety six, ninety six.
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  Speaker 2: I was young, and but what got me into real
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  Speaker 2: estate was my dad. You know, my dad, he was
• 6:17
  Speaker 2: a hard workers work in construction, and while working construction,
• 6:20
  Speaker 2: he would come home. He would have me take his
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  Speaker 2: boots off, you know, and I would take his boots off,
• 6:25
  Speaker 2: and there would be times I would running hot from
• 6:26
  Speaker 2: him because I literally didn't want to take his boots off,
• 6:28
  Speaker 2: these dirty boots. You know.
• 6:30
  Speaker 3: It was me and my brothers and sisters, but he
• 6:32
  Speaker 3: would always call me.
• 6:33
  Speaker 2: So my dad, who worked construction, like I mentioned, one
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  Speaker 2: day he gets carved in while doing a hospital and
• 6:39
  Speaker 2: Brooklyn called Woodhall Hospital. So he got caved in. He
• 6:42
  Speaker 2: was a day laborer, wasn't supposed to be there anything.
• 6:44
  Speaker 2: It's in the seventies, caved in like the walls fell
• 6:47
  Speaker 2: like he had the walls. Then while digging the ditch.
• 6:50
  Speaker 2: The dirt collapse then on him. So from the like
• 6:53
  Speaker 2: a little bit above the waist down on the dirt
• 6:56
  Speaker 2: collapse then on him. So they dug him out, brought
• 6:58
  Speaker 2: him home, and they sat him at the kitchen table.
• 6:59
  Speaker 2: They carried him in, so I'm about seven eight years old,
• 7:03
  Speaker 2: sat him at the kitchen table.
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  Speaker 3: So he calls me back in and says, take my
• 7:06
  Speaker 3: boots off.
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  Speaker 2: But now he's in agonizing pain, you know, and I
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  Speaker 2: could see this thing on his face. So I'm taking
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  Speaker 2: his boots off and he looks down at me says,
• 7:15
  Speaker 2: you know, why have you take my boots off? And
• 7:18
  Speaker 2: I say know why? He says, because I don't ever
• 7:22
  Speaker 2: want you to go through what you see me going through.
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  Speaker 2: Wow hit me.
• 7:28
  Speaker 3: It hit me like a ton of bricks. I know
• 7:29
  Speaker 3: he's delivering me a message.
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  Speaker 2: You know. I might have been young, but he understood
• 7:33
  Speaker 2: the volume, the volume of giving me that at that
• 7:36
  Speaker 2: time that he's ready. So it's stuck at that moment.
• 7:41
  Speaker 2: But he would always walk around the house and say,
• 7:43
  Speaker 2: don't pay anybody's mortgage. Now we remember back in the seventies,
• 7:46
  Speaker 2: it was redlining. No matter how much they would want
• 7:48
  Speaker 2: to say that it didn't exist, you know, with the
• 7:51
  Speaker 2: signing of the housing the Fair Housing Act, I think
• 7:54
  Speaker 2: at sixty five or sixty eight, whenever that was, it
• 7:56
  Speaker 2: still existed. So my dad wasn't allowed to buy our
• 7:59
  Speaker 2: home no matter how much. And we had our landlord.
• 8:03
  Speaker 2: We never seen him, but we knew he was Jewish,
• 8:05
  Speaker 2: Brownstone and bad sty. He would have another black gentleman
• 8:09
  Speaker 2: come collect the rent. But what would never happen was repairs.
• 8:13
  Speaker 2: The house was falling down. You know, my dad would
• 8:16
  Speaker 2: do all the repairs. The baller would break, he wouldat
• 8:18
  Speaker 2: somebody fixed the ballers everything. So one time, literally our
• 8:22
  Speaker 2: baller broke down to the point where ituln't be repaired,
• 8:25
  Speaker 2: need to put a new baller in. So you imagine
• 8:27
  Speaker 2: how many thousands of dollars that was. My dad couldn't
• 8:30
  Speaker 2: afford to get that. So we literally went three years
• 8:34
  Speaker 2: without heat in hot water. Could you imagine that? Like,
• 8:38
  Speaker 2: I'll look at that now at this moment and go crazy. Yeah,
• 8:41
  Speaker 2: I couldn't even imagine that. But here's something that really,
• 8:45
  Speaker 2: you know, put me into the moment of understanding. You
• 8:47
  Speaker 2: don't know bad. When you're in the moment of bad,
• 8:50
  Speaker 2: you just know family fund it was ten of us brothers, sisters,
• 8:54
  Speaker 2: Brownstone three floors, joining ourselves.
• 8:58
  Speaker 3: And we didn't realize that was not normal, you know.
• 9:03
  Speaker 2: And what made it more impactful and made it seem
• 9:06
  Speaker 2: like it wasn't a bad thing because my house was
• 9:08
  Speaker 2: full of so much love with my mother and father
• 9:10
  Speaker 2: and the other kids in the neighborhood always would want
• 9:13
  Speaker 2: to hang out my house because my parents were so free,
• 9:15
  Speaker 2: you know, you allow friends to come over their cock
• 9:17
  Speaker 2: dinna and hang out. And I'd be like, yoh, well
• 9:19
  Speaker 2: had no heat, bro we had with coats on it,
• 9:21
  Speaker 2: Like yeah, but my house is is hell on wheels.
• 9:24
  Speaker 2: So anyway, moving forward, going from there, I got the
• 9:28
  Speaker 2: job at Horizon. But before that, I got my first apartment.
• 9:31
  Speaker 2: This is when it really hit me. I got my
• 9:33
  Speaker 2: first apartment, started paying rent, and I said, this don't
• 9:36
  Speaker 2: feel right like paying someone rent while I'm paying the mortgage.
• 9:41
  Speaker 2: Didn't feel right in Brooklyn. In Brooklyn, New York, I said, man,
• 9:45
  Speaker 2: I got to get my own place. So I got
• 9:47
  Speaker 2: my job at Verizon. I started looking for a place
• 9:51
  Speaker 2: back in nineteen ninety five, right before I got the job. Now,
• 9:54
  Speaker 2: I was hustling doing my thing, but it wasn't drugs.
• 9:56
  Speaker 2: I like to get that point of rus I was
• 9:59
  Speaker 2: doing white hustles. Yeah, it's all type of hustle. Telling
• 10:02
  Speaker 2: the type of hustle he was doing was I was
• 10:03
  Speaker 2: doing tech technology hustle, you know, with cell phones and
• 10:07
  Speaker 2: stuff like that. You know, I like to say I
• 10:09
  Speaker 2: was a big part of free nights and weekends and
• 10:11
  Speaker 2: eventually helping those who couldn't afford a cell phone be
• 10:15
  Speaker 2: able to afford a cell phone now because it was
• 10:16
  Speaker 2: very expensive. So you're welcome, it's no doubt, you know.
• 10:22
  Speaker 2: So during that time, I went looking at a place
• 10:24
  Speaker 2: and it was an older gentleman who wanted to sell
• 10:26
  Speaker 2: me two brownstones for three hundred and fifty thousand dollars.
• 10:30
  Speaker 2: Right now, those brownstones now worth four million dollars. But
• 10:34
  Speaker 2: the key thing was I took two people with me,
• 10:37
  Speaker 2: that with my friends, and they didn't see the vision allly,
• 10:39
  Speaker 2: so was the problem all this? So was the neighborhood.
• 10:42
  Speaker 2: So they were they were saying, like I had this
• 10:43
  Speaker 2: list of one hundred reasons why I should buy it.
• 10:46
  Speaker 2: They only had one reason why I shouldn't. And ironically,
• 10:50
  Speaker 2: that was the one reason that was haunting me. Maybe
• 10:52
  Speaker 2: I shouldn't buy it. So when I got there, I'm like, oh, yeah,
• 10:54
  Speaker 2: we're looking at the place, and they go, Man, the
• 10:56
  Speaker 2: neighborhood's bad. Bro, Man the crack yo. You said, listen though,
• 11:01
  Speaker 2: the rent's gonna pay for these too. Like, I'm gonna
• 11:03
  Speaker 2: be alright, I'm not gonna pay rent.
• 11:05
  Speaker 5: I have this.
• 11:06
  Speaker 3: So I walked away. I didn't buy those two properties.
• 11:09
  Speaker 2: But what's stuck in my mind was anytime you're doing something,
• 11:13
  Speaker 2: you need to surround yourself with like minded people who
• 11:15
  Speaker 2: could see the vision of what you want to do
• 11:18
  Speaker 2: what you want to do, because what you're trying to
• 11:20
  Speaker 2: do maybe if not, maybe it will be beyond what
• 11:24
  Speaker 2: they want to do. Because you become common you gain
• 11:27
  Speaker 2: a common threat with people. With your friendships based on
• 11:30
  Speaker 2: either sport, it's a relationship, but hanging out. Now, when
• 11:33
  Speaker 2: you go outside the normal, you make that thing about
• 11:35
  Speaker 2: something like real estate.
• 11:36
  Speaker 3: See, that's not their willehouse.
• 11:38
  Speaker 2: You just created a new willelhouse for you, and now
• 11:40
  Speaker 2: they don't understand it, and all they saw was the
• 11:42
  Speaker 2: bad thing. I didn't buy it, big mistake. I moved on.
• 11:46
  Speaker 7: I honestly didn't think that's how the story was gonna go.
• 11:48
  Speaker 7: I honestly thought you're gonna be like, yo, I didn't
• 11:49
  Speaker 7: listen to them. I got there and then I'll learn
• 11:51
  Speaker 7: some say so it almost was their fear that was
• 11:54
  Speaker 7: being casted on you, right, one hundred What was Do
• 11:57
  Speaker 7: you remember the one.
• 11:57
  Speaker 6: Thing that they were saying like, this isn't it?
• 11:59
  Speaker 7: Because I would feel like if I got a hundred
• 12:01
  Speaker 7: reasons like at a certain point, that's going to crush
• 12:04
  Speaker 7: yours and yours and they're going to see.
• 12:06
  Speaker 6: My point of view. Yep. So do you remember the
• 12:08
  Speaker 6: one thing that they were like, we can't do this?
• 12:10
  Speaker 2: Yeah, they kept saying drugs crime, right, But what made
• 12:14
  Speaker 2: me not buy it? Because they were my friends and
• 12:18
  Speaker 2: I thought they it's not they didn't have my best
• 12:21
  Speaker 2: interest in mind, But we all thought alike until I
• 12:25
  Speaker 2: developed that other sense of I wanted to do more. So,
• 12:28
  Speaker 2: if you're in a group of ten people and nine
• 12:31
  Speaker 2: of them are saying, yo, let's go to this party,
• 12:34
  Speaker 2: you don't want.
• 12:34
  Speaker 3: To go, You're like, now, what the hell I'll go?
• 12:37
  Speaker 2: So I was in a group it was us three
• 12:39
  Speaker 2: and they were like, yo, don't buy the house, And
• 12:41
  Speaker 2: I said, you know what, I'm not gonna buy it
• 12:42
  Speaker 2: because maybe you're right. So I wasn't equipped with all
• 12:45
  Speaker 2: the knowledge of knowing real estate. I just know what
• 12:47
  Speaker 2: my dad was giving me, and I didn't want to
• 12:49
  Speaker 2: pay rent. I wanted to buy it, So that's why
• 12:51
  Speaker 2: I didn't buy it. But then it comes a part
• 12:55
  Speaker 2: of the story what gets interesting with the cell phones.
• 12:58
  Speaker 2: I'm driving in my car and I get pulled on
• 13:00
  Speaker 2: over by detectives. So they pulled me over and they're going, look,
• 13:04
  Speaker 2: we know what you're doing because it wasn't illegal yet
• 13:08
  Speaker 2: what we were doing with cell phones, it wasn't illegal.
• 13:10
  Speaker 2: There was no crime. So they said, nah, we know
• 13:13
  Speaker 2: you got this job off at Verizon. We suggest you
• 13:16
  Speaker 2: take it, and I turned I turned it down. I'm like,
• 13:19
  Speaker 2: how did y'all know this? They said, well, you're gonna
• 13:21
  Speaker 2: get that letter again, and when you get it, take
• 13:24
  Speaker 2: the job. So I'm sitting there like, yes, sir, you
• 13:27
  Speaker 2: got it. I'm gonna take the job. So I pulls
• 13:29
  Speaker 2: off in my car, but I wanted to double back
• 13:32
  Speaker 2: to go buy my partner to tell them look the
• 13:35
  Speaker 2: jigs up like red Rover nine or get the jigs up.
• 13:39
  Speaker 2: So by the time I get over there, swat cars, cops, barricades,
• 13:44
  Speaker 2: and I pull over, and I'm sitting there with a
• 13:47
  Speaker 2: trunk full of phones and I'm going defining moment, y'all.
• 13:51
  Speaker 2: It's defining moment, Like all right, you just got to
• 13:56
  Speaker 2: pull off.
• 14:00
  Speaker 8: Hey, listen, everybody, this is your man, Steve Harven, my
• 14:03
  Speaker 8: partner's over and Earn Your Leisure. They are kicking off
• 14:05
  Speaker 8: their first invest Fast World tool on October thirty.
• 14:09
  Speaker 2: First, how my gun on me? I'm with Achilles UK.
• 14:12
  Speaker 2: My dang now humph for this finish you said up
• 14:15
  Speaker 2: enough comfort the finish you your.
• 14:17
  Speaker 8: C it will be get a load of this after
• 14:20
  Speaker 8: rowal Albert Hall in London, England. This year's speakers list
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  Speaker 8: include Earn Your Leisure Parents, Jane wall Street, Trapper, Eon
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• 14:46
  Speaker 3: Like this, there's nothing you can do. They already warned you.
• 14:50
  Speaker 2: You here. Now. If they don't come up to this
• 14:51
  Speaker 2: car and notice you, you cannot look back. You have
• 14:54
  Speaker 2: to move forward with what you want to do. I
• 14:56
  Speaker 2: pulled off. Once I pulled off, that letter came back
• 14:59
  Speaker 2: in Verizon is offering. Yeah, yeah, okay, they could have
• 15:03
  Speaker 2: been offered me any position where I signed. I took
• 15:05
  Speaker 2: that job and at Verizon. From that moment, so that
• 15:09
  Speaker 2: your friend got locked up, yeah, he did for cell phones.
• 15:12
  Speaker 2: He got he got locked up for that. And I don't,
• 15:14
  Speaker 2: you know, want to go into detail of how big
• 15:16
  Speaker 2: it was, but I thought it was only New York
• 15:19
  Speaker 2: that we were servicing. We were servicing like eight states.
• 15:24
  Speaker 5: So he was he was ahead of you. You wasn't
• 15:26
  Speaker 5: fully aware of the whole operation.
• 15:28
  Speaker 2: Yeah, yes, well what it was it was, Nah, this
• 15:31
  Speaker 2: is cool, you know. I was like, nah, just just
• 15:33
  Speaker 2: be cool and quiet and make it here and we
• 15:36
  Speaker 2: good because don't go out ruffling feathers. You know. Then
• 15:40
  Speaker 2: once you start expanding, now they can build things and
• 15:43
  Speaker 2: stuff like that. So yeah, the expansion brought down the
• 15:46
  Speaker 2: empire of the Carters.
• 15:48
  Speaker 7: It felt like the last scene and said it off Yeah,
• 15:50
  Speaker 7: when they watching Cleo exactly and they had the bus
• 15:53
  Speaker 7: like all right, well you can't go help her.
• 15:55
  Speaker 6: You gotta go figure this thing out now exactly.
• 15:57
  Speaker 2: So once I got the job, I said to myself,
• 16:00
  Speaker 2: now I'm making four hundred dollars a week. Now. That
• 16:02
  Speaker 2: job took the job did I I took that job
• 16:05
  Speaker 2: by Verizon. So now you got to imagine I'm going
• 16:07
  Speaker 2: from doing like three to four five thousand dollars a
• 16:10
  Speaker 2: week to making four hundred dollars a week but being safe.
• 16:15
  Speaker 2: And I said, you know what if I would have
• 16:17
  Speaker 2: been arrested, what would my dad think? You know, he's
• 16:21
  Speaker 2: not alive now, but like everything, I would have been
• 16:24
  Speaker 2: sitting there thinking about all those moments, that taking his
• 16:27
  Speaker 2: boots off and all those stories from behind some bars.
• 16:30
  Speaker 2: So now I'm saying to myself, this is my moment
• 16:33
  Speaker 2: to do what I have to do to make him
• 16:35
  Speaker 2: proud and also to lift out that dream that he
• 16:37
  Speaker 2: can never do, which was real estate. So now ninety six,
• 16:41
  Speaker 2: I have another friend who does real estate, and he's like, listen, Storm,
• 16:43
  Speaker 2: I'm gonna go look at these properties.
• 16:45
  Speaker 3: Once you come with me.
• 16:46
  Speaker 2: I said, yeah, because I always wanted to get into
• 16:48
  Speaker 2: real estate, So now come with me. So he takes
• 16:51
  Speaker 2: me to go see a Brownstone. Ironically, he breaks down
• 16:54
  Speaker 2: every single thing on that list that I have back
• 16:57
  Speaker 2: in ninety five, why and with more detail.
• 16:59
  Speaker 3: He said, Tony's going to change.
• 17:01
  Speaker 2: This is what's going on. You see they doing the
• 17:02
  Speaker 2: garden up there and you see they doing this, and
• 17:05
  Speaker 2: I was like, yeah, boom, bought my first brownstone. Got
• 17:08
  Speaker 2: that first brownstone for about three hundred and fifty thousand
• 17:11
  Speaker 2: dollars incredible. Had to do some work on the Browns
• 17:15
  Speaker 2: when I was you know, I had to gut it out.
• 17:16
  Speaker 2: You know, the homes weren't being tooken care of her
• 17:18
  Speaker 2: back then. So there's water, this and that. So I
• 17:20
  Speaker 2: cut out the brownstone, get contractors, rip out the electric,
• 17:24
  Speaker 2: all the plumping, all the plumbing. I'm standing in the basement,
• 17:28
  Speaker 2: I'm looking all the way up. Every floor is ripped out.
• 17:30
  Speaker 2: I'm looking up at the ceiling saying, Yo, my dad
• 17:33
  Speaker 2: would be so proud of me right now. He'll be
• 17:36
  Speaker 2: so proud of me at this moment. But you know
• 17:38
  Speaker 2: what I also said, Man, I never want to do
• 17:41
  Speaker 2: this again because I created another job for myself. I'm
• 17:46
  Speaker 2: in there working, I'm work working, I'm saying to myself, Wow,
• 17:51
  Speaker 2: I had to take days off. I had to use
• 17:53
  Speaker 2: my vacation days, my sick days, my holidays, and I said, Yo,
• 17:58
  Speaker 2: this ain't cool. So after I got that completed, I
• 18:02
  Speaker 2: totally stepped away from real estate because I did not
• 18:05
  Speaker 2: want another job because I already had one and I
• 18:07
  Speaker 2: almost lost the job that allowed me to buy the property.
• 18:11
  Speaker 2: And this is where the whole thing in my mind
• 18:14
  Speaker 2: led up to your job is your first business partner. Period.
• 18:18
  Speaker 2: Your job is a first business partner. The job allowed
• 18:21
  Speaker 2: me to be able to put it on the application
• 18:23
  Speaker 2: to get the down payment to buy the property. The
• 18:25
  Speaker 2: job allowed me to be able to pay these bills,
• 18:27
  Speaker 2: to get my credit score up to be able to
• 18:29
  Speaker 2: put that job on the application and get the down payment. Again.
• 18:32
  Speaker 2: The job allowed me the weekends off, the holidays off,
• 18:34
  Speaker 2: so technically me and this job are in bed together
• 18:36
  Speaker 2: and we're partners. He allowed me to do that. That
• 18:39
  Speaker 2: job allowed me. So once I understood that, I said,
• 18:41
  Speaker 2: oh okay, now I have to repeat the process of
• 18:44
  Speaker 2: doing this without having to do work. That was just
• 18:48
  Speaker 2: the tricky part of it. And one thing about real
• 18:50
  Speaker 2: estate that people don't tell you. They give you all
• 18:53
  Speaker 2: the glorious things about it, which is true by real estate,
• 18:56
  Speaker 2: and it's going to change your life. It's going to
• 18:58
  Speaker 2: do this, it's going to do that. But what people
• 19:00
  Speaker 2: don't talk about, and I really want to try to
• 19:02
  Speaker 2: start expanding on this story. My real estate people out there.
• 19:05
  Speaker 2: When you become a landlord. Man, Nobody told me. And
• 19:10
  Speaker 2: I become a landlord, I would literally inherit every tenant
• 19:14
  Speaker 2: as a boss. You know why, because they can tell you,
• 19:17
  Speaker 2: I'm not giving you no money until you do this,
• 19:20
  Speaker 2: even if it's not something that you're responsible for.
• 19:22
  Speaker 3: Getting those phone calls late at night, drunk phone calls.
• 19:26
  Speaker 3: I'm locked out.
• 19:26
  Speaker 2: Come let me back in. Oh, I got plenty of
• 19:28
  Speaker 2: those toilets, tubs, they putting stuff, and they doing all us.
• 19:33
  Speaker 2: And I said, I'm not knocking the landlord because it
• 19:37
  Speaker 2: educated me on what I didn't want to do.
• 19:40
  Speaker 3: But I know I didn't want to do that was
• 19:42
  Speaker 3: become a landlord. So I tried to change my mindset.
• 19:45
  Speaker 2: The mindset for me was shifting to becoming a CEO
• 19:49
  Speaker 2: who's running a business. That was the start of it,
• 19:53
  Speaker 2: to transition. I'll keep going, y'all know. So all right,
• 19:58
  Speaker 2: so you get your first property ninety nine ninety six
• 20:01
  Speaker 2: was the first property. Undred three hundred thousand, three hundred
• 20:04
  Speaker 2: fifty thousand and fifty thousand. You got an FHA or
• 20:07
  Speaker 2: just traditional traditional traditional convention. They look like thirty thousand
• 20:11
  Speaker 2: down something like that. Yeah, I put it, Yeah, about
• 20:13
  Speaker 2: thirty a little bit over that down.
• 20:14
  Speaker 5: All right, So then you renovate it and you get
• 20:17
  Speaker 5: that up and running.
• 20:18
  Speaker 2: Yep.
• 20:19
  Speaker 5: But this is why you're working at Horizon while I'm
• 20:21
  Speaker 5: a working So at what point do you really start
• 20:23
  Speaker 5: to hit your stride? Like, what's the steps that you
• 20:25
  Speaker 5: took after that? Like, was it every six months you
• 20:27
  Speaker 5: got another property? Did you refinance the first property to
• 20:30
  Speaker 5: get your second property? Like, what's the steps that you
• 20:32
  Speaker 5: took to actually start building up portfolio?
• 20:34
  Speaker 3: Great question, great question.
• 20:36
  Speaker 2: What happened was actually, like I said, stop buying properties
• 20:38
  Speaker 2: because of the landlord aspect. So I didn't get back
• 20:41
  Speaker 2: into real estate until twenty fifteen. You know why, because
• 20:45
  Speaker 2: there was nobody who was investing out of state. Think
• 20:47
  Speaker 2: about the early nineties. It was hip hop, it was diddy.
• 20:50
  Speaker 2: It was like we was hanging out and enjoying ourselves.
• 20:53
  Speaker 2: And the people I did know that was doing real estate,
• 20:55
  Speaker 2: it was all local. I have my friends that were
• 20:57
  Speaker 2: buying properties nearby, and I said, man, I don't want
• 20:59
  Speaker 2: to be a landlord because even when we would have
• 21:01
  Speaker 2: the discussion, it would be those dilembers, those dilemmas. So
• 21:05
  Speaker 2: I said, man, I want to do something else in
• 21:07
  Speaker 2: real estate. And my friend of mine he introduced me
• 21:09
  Speaker 2: to another friend of his that was investing in real
• 21:12
  Speaker 2: estate out of state. He said, nah, I just buy
• 21:14
  Speaker 2: properties and I collect rent. I said, you do what,
• 21:18
  Speaker 2: and do what and don't have to do what with who?
• 21:20
  Speaker 2: He said, Nah, I don't deal with tennants. I said,
• 21:22
  Speaker 2: told me more. He said. He gave me a little
• 21:23
  Speaker 2: bit of insight, but we didn't talk too long. I said,
• 21:26
  Speaker 2: I'm going to look myself and find out about this.
• 21:29
  Speaker 2: So now I go to the school of Google. I'm
• 21:31
  Speaker 2: looking up out of state real estate things that our
• 21:34
  Speaker 2: nature twenty fifteen. Now I go to a place and
• 21:36
  Speaker 2: I find a site called Bigger Pockets dot.
• 21:38
  Speaker 5: Com shot out the Bigger Pockets.
• 21:40
  Speaker 2: Yeah, they oweed me some bread through.
• 21:41
  Speaker 5: Oh not, no shout out to Bigger Pockets.
• 21:44
  Speaker 7: I'm saying, you know, no shout out to that bread
• 21:46
  Speaker 7: is free. The check got a clear, ain't clear, you know.
• 21:50
  Speaker 2: So I went on Bigger Pockets and I'm typing in
• 21:52
  Speaker 2: all these things about out of state real estate? How
• 21:54
  Speaker 2: does it work? And guys, excuse me, guys are really
• 21:57
  Speaker 2: giving all the examples of how this work, how it's built,
• 22:02
  Speaker 2: and It's one thing that I really love about that place.
• 22:06
  Speaker 2: They give you so much information real estate is this tribe.
• 22:10
  Speaker 2: When you ask one question, everybody answers. But see what
• 22:13
  Speaker 2: I was going wrong with bigger pockets was I kept
• 22:16
  Speaker 2: typing in questions and this someone, he reached out to
• 22:19
  Speaker 2: me and said, just type in the question in his search.
• 22:23
  Speaker 2: Don't keep asking because somebody already asking. You look like
• 22:26
  Speaker 2: a newbie, and people know you didn't do your research.
• 22:29
  Speaker 3: So I said, okay, cool. So now I'm typing in.
• 22:31
  Speaker 2: Where's the best place about of state real estate? How
• 22:34
  Speaker 2: to learn more about how to state real estate? Now
• 22:36
  Speaker 2: I'm getting this thread. So I noticed in the thread,
• 22:38
  Speaker 2: which is key, there are people who are talking a lot,
• 22:42
  Speaker 2: and I said, I'm going to reach out to one
• 22:43
  Speaker 2: of them because they seem like they want to give
• 22:45
  Speaker 2: a lot of information out. So I asked one question
• 22:47
  Speaker 2: and one guy I'm thinking about getting out of say
• 22:49
  Speaker 2: real estate, what's the best place? So he hits me
• 22:51
  Speaker 2: right back. Were going back and forth, back and forth.
• 22:54
  Speaker 2: He's giving me great advice. Little did he know he
• 22:56
  Speaker 2: would become my mentor. And this is what I mean
• 22:59
  Speaker 2: about always asked the right questions. When I first started
• 23:02
  Speaker 2: out with my theme was ask, always seek knowledge. It
• 23:05
  Speaker 2: is because my goal was to ask the right question,
• 23:08
  Speaker 2: and by asking those right questions led me to this
• 23:11
  Speaker 2: gentleman here giving me valuable information where he knew I
• 23:15
  Speaker 2: wasn't just asking any question. I was trying to get
• 23:18
  Speaker 2: to a finish line. And he loved that about me
• 23:21
  Speaker 2: that I would take his information do the research. So
• 23:24
  Speaker 2: now he gives me all this information. I'm looking for properties,
• 23:27
  Speaker 2: I'm learning how to do numbers, I'm learning everything about
• 23:30
  Speaker 2: it because there's no system like there is today.
• 23:32
  Speaker 7: So like the person who's listening to right now, I'm
• 23:34
  Speaker 7: sure they're gonna be like, well, what are the questions
• 23:35
  Speaker 7: that I'm supposed to ask? So what at that point
• 23:38
  Speaker 7: this is twenty fifteen. Obviously you know some of the
• 23:40
  Speaker 7: things will still apply. But what is some of the
• 23:41
  Speaker 7: questions that you're asking because you want the exact feedback.
• 23:45
  Speaker 2: Yeah, one of the questions I asked was what's the
• 23:47
  Speaker 2: best place to start with out of state real estate?
• 23:51
  Speaker 3: He gave me locations. He said here in the Midwest.
• 23:53
  Speaker 2: You want to do this because of the good weather,
• 23:56
  Speaker 2: the rent the higher rents, the lower property costs, all
• 24:00
  Speaker 2: the things that new York didn't provide the properties were
• 24:02
  Speaker 2: now at this time in twenty fifteen, eight hundred thousand,
• 24:06
  Speaker 2: one point two like ridiculous numbers, And that math doesn't
• 24:09
  Speaker 2: work if you're trying to be an investor, and cash
• 24:13
  Speaker 2: flow off of property that's a million dollars million dollar
• 24:15
  Speaker 2: mortgage is about ten thousand dollars. The average rent is
• 24:17
  Speaker 2: two thousand dollars, so that's a three thousand dollars hole.
• 24:20
  Speaker 2: How do you make that up? So now when you
• 24:22
  Speaker 2: learn these numbers, you realize you need to branch out.
• 24:24
  Speaker 2: So those were the things he was giving me. I
• 24:26
  Speaker 2: would ask what were the best places, what were the
• 24:29
  Speaker 2: best tools to learn how to do numbers, what were
• 24:31
  Speaker 2: the best books?
• 24:32
  Speaker 3: What were He was giving me all that information.
• 24:34
  Speaker 2: So guys, when you're trying to get a mentor, make
• 24:37
  Speaker 2: sure the question is how, and when he gives you
• 24:41
  Speaker 2: the how, you go do the work and then come
• 24:43
  Speaker 2: back showing you actually did the work so he can
• 24:47
  Speaker 2: know that he's not just wasting his time. That was
• 24:49
  Speaker 2: crucial for me.
• 24:50
  Speaker 6: Do your research.
• 24:51
  Speaker 5: So when did you buy your first out of state property?
• 24:54
  Speaker 5: And where what state was it?
• 24:55
  Speaker 2: In twenty fifteen, I bought a property that same year
• 24:58
  Speaker 2: and it was in Indianapolis.
• 25:00
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• 25:02
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• 25:05
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• 25:09
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• 25:58
  Speaker 3: I bought that property chain my life.
• 26:00
  Speaker 2: Like a lot of people would think that buying a
• 26:02
  Speaker 2: property a brownstone for about three hundred and fifty thousand
• 26:05
  Speaker 2: today which is worth almost two million dollars, will be
• 26:07
  Speaker 2: the property that changed my life. But you have to
• 26:09
  Speaker 2: think that was That was nineteen ninety six buying that property,
• 26:14
  Speaker 2: So it took over twenty years for that property to
• 26:17
  Speaker 2: be worth what it is now.
• 26:18
  Speaker 6: Did you held the property, Yeah, I.
• 26:20
  Speaker 2: Still have that property now, right, I still have that
• 26:23
  Speaker 2: property now, But during that time then it there. People
• 26:25
  Speaker 2: always ask, well, that property is the one that puts
• 26:28
  Speaker 2: you over the tipping point and made you a millionaire,
• 26:31
  Speaker 2: And I would tell them no, you know why because
• 26:34
  Speaker 2: the rent doesn't equate to the value of the home.
• 26:37
  Speaker 2: So when someone says, oh, Grandma has a house here
• 26:40
  Speaker 2: worth two million dollars, Grandma can't go get a loan
• 26:43
  Speaker 2: out on that house because she doesn't have a way
• 26:46
  Speaker 2: to pay for the cash out of that home. The
• 26:49
  Speaker 2: money is in the walls. So when if someone likes
• 26:52
  Speaker 2: say Grandma dies and now the family wants to decide
• 26:56
  Speaker 2: on selling the home or keeping a home, I always
• 26:58
  Speaker 2: give the analogy of this. I'm not mad if you
• 27:01
  Speaker 2: sell the home just have something to do with the
• 27:04
  Speaker 2: money with selling their home, because grandma wants that money
• 27:07
  Speaker 2: to create a legacy. Because you have to think, if
• 27:10
  Speaker 2: you're going to hold a home worth two million dollars,
• 27:13
  Speaker 2: collect three thousand dollars worth of rent, Grandma three kids
• 27:15
  Speaker 2: to spend three splitting three thousand dollars worth of rent,
• 27:19
  Speaker 2: how far is that going to change your legacy. But
• 27:21
  Speaker 2: if you sold a house for two million, and now
• 27:23
  Speaker 2: you buy more real estate, you create a trust all
• 27:25
  Speaker 2: those things. Now Grandma is smiling down going. That's why
• 27:28
  Speaker 2: I bought that house for thirty thousand dollars for y'all
• 27:32
  Speaker 2: to do that. So I definitely believe in selling Grandma's
• 27:35
  Speaker 2: house with a purpose because a lot of people can't
• 27:37
  Speaker 2: pull the cash out. So me buying a house in Indianapolis,
• 27:41
  Speaker 2: it was a forty thousand dollar house. I got a
• 27:44
  Speaker 2: loan for that house. And this is another thing I
• 27:47
  Speaker 2: like to give people advice as I go along in
• 27:49
  Speaker 2: the conversation. If that's okay to get a loan on
• 27:51
  Speaker 2: a forty thousand dollar property, I always recommend looking at
• 27:54
  Speaker 2: local banks in the state where the property is located.
• 27:57
  Speaker 2: So I got a loan in that state for forty
• 27:59
  Speaker 2: thousand dollars. That was about eight thousand dollars down. The
• 28:03
  Speaker 2: mortgage was two hundred and fifty dollars. Section eight was
• 28:07
  Speaker 2: paying eight hundred and fifty dollars. So I'm like, I'm
• 28:11
  Speaker 2: making like six hundred dollars a month off this property.
• 28:15
  Speaker 2: So at the end of the year it was a
• 28:16
  Speaker 2: little less than six hundred because I know I was
• 28:18
  Speaker 2: making six thousand dollars a year from an eight thousand
• 28:21
  Speaker 2: dollars investment. So I'm like, man, a lot of people
• 28:25
  Speaker 2: here that and go, that's not a big amount. But
• 28:28
  Speaker 2: the key is it isn't the amount, it's the percentage.
• 28:30
  Speaker 2: Someone tells you you can make eighty percent off your money.
• 28:33
  Speaker 2: You should look at that percentage and not how much
• 28:36
  Speaker 2: that amount is. Someone says, give me one hundred dollars,
• 28:38
  Speaker 2: I'm gonna give you eighty dollars every year from one
• 28:41
  Speaker 2: hundred dollars. Why not.
• 28:43
  Speaker 3: It's eighty percent off the one hundred dollars.
• 28:45
  Speaker 2: So anyway, I'm making six thousand dollars off the eight
• 28:47
  Speaker 2: thousand dollars, and I go, wow, I'm making my money back.
• 28:50
  Speaker 2: You know what. I'm at work, I'm thinking this was simple.
• 28:54
  Speaker 2: I don't have to deal with tenants. I don't have
• 28:57
  Speaker 2: to deal with anything else. How about I buy another
• 28:59
  Speaker 2: one and do this again. And in formulating that idea
• 29:03
  Speaker 2: and that structure, I said, if I'm making six thousand
• 29:06
  Speaker 2: dollars a year and I'm making sixty thousand dollars a
• 29:09
  Speaker 2: year work, how many properties do I need to no
• 29:11
  Speaker 2: longer have to come to work? Ten properties? I could
• 29:15
  Speaker 2: do that. It's either ten properties in ten years of
• 29:18
  Speaker 2: retallying thirty years. That sounded much better. So now once
• 29:22
  Speaker 2: I do the math on how that works. Key thing
• 29:25
  Speaker 2: that I didn't include, and I want everybody to look
• 29:27
  Speaker 2: at this also, I'm a drop it, y'all pick this up.
• 29:30
  Speaker 2: We do not value what our tax returns can do
• 29:32
  Speaker 2: for us. We get a tax return, is we treat ourselves.
• 29:36
  Speaker 2: I said, you know what, I got six thousand dollars
• 29:38
  Speaker 2: coming in. I'm getting seven thousand dollars for my tax return.
• 29:42
  Speaker 2: That's fifteen thousand dollars. Excuse me, seven fort No excuse men,
• 29:47
  Speaker 2: that's thirteen thousand dollars. I just bought a property for
• 29:50
  Speaker 2: eight thousand dollars. And now on top of that, I said,
• 29:52
  Speaker 2: I'm going to keep two hundred dollars a month from work.
• 29:56
  Speaker 2: So I said, Yo, if I was thinking one property
• 29:59
  Speaker 2: a year, ten years, I can now leave. Now I
• 30:02
  Speaker 2: have enough to buy two properties a year. I could
• 30:05
  Speaker 2: cut that time and have I could leave work in
• 30:07
  Speaker 2: five years about two properties a year. So now I'm
• 30:10
  Speaker 2: really now I'm going to work with a purpose. The
• 30:15
  Speaker 2: biggest thing that we run into personally for myself, is
• 30:18
  Speaker 2: where we get caught up. We're not liking our job,
• 30:20
  Speaker 2: and the frustration comes in. It's because we don't see
• 30:24
  Speaker 2: the exit sign. We get up and go, oh, man,
• 30:27
  Speaker 2: I can't do this, you know. So I used to
• 30:32
  Speaker 2: get up six thirty to have to be to work
• 30:33
  Speaker 2: at seven. I needed every traffic light to always be
• 30:36
  Speaker 2: on time. I was going to be late and asked me,
• 30:38
  Speaker 2: did I care? I didn't care. And that's a big
• 30:41
  Speaker 2: problem because I was now giving people with the power
• 30:43
  Speaker 2: to fire me to actually do what they want to
• 30:46
  Speaker 2: do most than fire me.
• 30:48
  Speaker 3: I had to readjust that thinking.
• 30:50
  Speaker 2: And now once that happened, and I started getting up
• 30:52
  Speaker 2: at six o'clock now to go over my plan because
• 30:55
  Speaker 2: I know I was leaving.
• 30:57
  Speaker 3: Now I lead a house about six twenty.
• 30:59
  Speaker 2: Now I get the work and now I'm happy going Yeah,
• 31:02
  Speaker 2: I'm gonna be out of here in five years.
• 31:05
  Speaker 3: And they couldn't figure it out.
• 31:07
  Speaker 7: I know, I know that feeling. I know that feeling
• 31:08
  Speaker 7: going to work. So here's the thing though, Right, you're
• 31:10
  Speaker 7: in Brooklyn, Yes, the property is in Indiana. Uh huh,
• 31:14
  Speaker 7: So how who's managing are you at that point? Having
• 31:18
  Speaker 7: a property manager? Because I know one of the things
• 31:19
  Speaker 7: is that you don't even see the properties. No, I've
• 31:22
  Speaker 7: never seen You've never even seen the property, So how
• 31:24
  Speaker 7: does you I mean, you're buying it, but you're not
• 31:27
  Speaker 7: seeing it. So who's managing the property? Do you have
• 31:29
  Speaker 7: property management at the time or is that like a
• 31:31
  Speaker 7: lesson that you have to learn during this process.
• 31:33
  Speaker 2: Well, that's a great thing about having a mentor one
• 31:34
  Speaker 2: hundred percent. I have a property manager that oversees the
• 31:37
  Speaker 2: property right. And the key thing with this when buying
• 31:40
  Speaker 2: a property sight unseen, tenant not being seen, because that's
• 31:45
  Speaker 2: another thing. Also, I bought properties that of tenant occupied.
• 31:48
  Speaker 2: I get it more.
• 31:48
  Speaker 6: We're gonna get that. Yeah, were gonna get that.
• 31:50
  Speaker 2: I'm gonna stay stay in the zone, you know what
• 31:51
  Speaker 2: I mean. So the property manager, the key thing about
• 31:55
  Speaker 2: that is that's when the mindset changes.
• 31:57
  Speaker 3: It all starts with the mindset.
• 31:59
  Speaker 2: You can't build any type of strong structure if your
• 32:02
  Speaker 2: foundation isn't correct. So once I have the mindset of
• 32:05
  Speaker 2: understanding that I don't want to be a landlord anymore,
• 32:10
  Speaker 2: I don't want to see properties. I want to delegate
• 32:13
  Speaker 2: duties to someone because property management only wants ten percent,
• 32:17
  Speaker 2: so that means I'm making ninety percent. They're doing one
• 32:20
  Speaker 2: hundred percent of the work, and I'm keeping one hundred
• 32:22
  Speaker 2: percent of my time. The key thing was just finding
• 32:24
  Speaker 2: the right property management company. They place the tenants, they
• 32:28
  Speaker 2: deal with evictions, they deal with fixing. All I have
• 32:31
  Speaker 2: to do is concentrate on my plan, which will be
• 32:33
  Speaker 2: allowing me to leave work in five years. So finding
• 32:36
  Speaker 2: the right property management company is always best to do
• 32:40
  Speaker 2: that and to expand your horizon. How will you be
• 32:43
  Speaker 2: able to grow what you're trying to do if you're
• 32:45
  Speaker 2: trying to do all the work. I believe that you
• 32:48
  Speaker 2: can't be the janitor, you can't be the electrician, you
• 32:51
  Speaker 2: can't be the plumber, and you can't be the CEO
• 32:54
  Speaker 2: if you want to take your company to the next level,
• 32:56
  Speaker 2: because all you have to do is look from the
• 32:58
  Speaker 2: seat of a CEO and actual company understand his value
• 33:01
  Speaker 2: comes in by delegating duties and overseeing the mission. And
• 33:05
  Speaker 2: his mission is to grow the company by having assets
• 33:08
  Speaker 2: that are making money. And that's where I get into
• 33:11
  Speaker 2: buying my assets that are tendant occupied.
• 33:13
  Speaker 7: All right, so we got let me get these states, right,
• 33:14
  Speaker 7: and if I miss one, forgive me. Okay, no doubt
• 33:16
  Speaker 7: because I didn't even have Indiana. I got Alabama, I
• 33:20
  Speaker 7: got Wisconsin City, Milwaukee, we got Georgia, Florida, Ohio.
• 33:25
  Speaker 3: Yes I miss any Indiana Ohio. I think that's it.
• 33:30
  Speaker 3: I'm gonna be honest.
• 33:31
  Speaker 2: The place, the location doesn't matter to me, right because
• 33:35
  Speaker 2: the Italia, United States is my marketplace. So I don't
• 33:39
  Speaker 2: get caught up where it's at. I only get caught
• 33:41
  Speaker 2: up in what that asset is making.
• 33:44
  Speaker 7: Well, I'll bring up the states because I'm trying to
• 33:46
  Speaker 7: figure out it is a property manager handling all those properties.
• 33:48
  Speaker 2: There we go, No, you have a property manage for
• 33:51
  Speaker 2: each state.
• 33:52
  Speaker 6: State was going with?
• 33:53
  Speaker 2: You need a property management for each state. And the
• 33:56
  Speaker 2: key thing is you become a property manager. We can
• 33:59
  Speaker 2: tell touch that topic later. You become the property manager,
• 34:03
  Speaker 2: but you have a property management company for each state
• 34:05
  Speaker 2: to run those properties.
• 34:06
  Speaker 5: Gotcha, So how did you find how'd you find your
• 34:09
  Speaker 5: first property? And how do you find property if you're
• 34:11
  Speaker 5: not actually physically going to these locations? How do you
• 34:14
  Speaker 5: find these properties?
• 34:15
  Speaker 2: Man? You guys come with good questions.
• 34:17
  Speaker 3: Let them roll out, Let them roll. How do I
• 34:19
  Speaker 3: find properties?
• 34:20
  Speaker 2: The key thing for me is the place is simple
• 34:23
  Speaker 2: sites like real to, Zillow, Trulia, Craigslists, Facebook groups, all
• 34:28
  Speaker 2: those places you're looking for properties. Now there's this thing
• 34:32
  Speaker 2: where there's a shortage of houses, there's a shortage of properties.
• 34:35
  Speaker 2: There's a shortage. And the reason why there isn't a
• 34:37
  Speaker 2: shortage in my space because I'm not looking to buy
• 34:40
  Speaker 2: a property as a homeowner. Biggest amount of people who
• 34:43
  Speaker 2: are looking for homes or homeowners. The next group are
• 34:46
  Speaker 2: people want to find distress properties that they can add
• 34:49
  Speaker 2: value and do work to it. But when I search
• 34:52
  Speaker 2: for properties, I go into the search bar and I
• 34:55
  Speaker 2: search for tenant occupy properties section eight properties. How many
• 35:00
  Speaker 2: people are searching that? Very few? So I have a
• 35:04
  Speaker 2: whole litany of properties that are just there for me
• 35:08
  Speaker 2: because the mindset is I'm looking for home to place
• 35:12
  Speaker 2: a tenant. I'm looking for home to place a tenant.
• 35:15
  Speaker 2: But if you think for me as a CEO, where
• 35:19
  Speaker 2: I'm looking to buy an asset that's making money. So
• 35:23
  Speaker 2: I'm looking for businesses. It's just so happened. Those businesses
• 35:26
  Speaker 2: are properties and the tenants aren't those So I look
• 35:30
  Speaker 2: for properties that are Section eight, preferably Section eight. And
• 35:34
  Speaker 2: the reason why is because government's living laid on rent.
• 35:39
  Speaker 2: Governance never laid on rent during COVID. When I first
• 35:43
  Speaker 2: was doing this structure, a lot of people would say, man,
• 35:45
  Speaker 2: I don't want to deal with Section eight properties. Man,
• 35:47
  Speaker 2: they do this, they do that. But I tell them
• 35:49
  Speaker 2: that in these other states where people are not on
• 35:53
  Speaker 2: top of each other and things of that nature, it's
• 35:56
  Speaker 2: more than laid back. You know. It's not like you
• 35:58
  Speaker 2: have to come home, you elevates broke, you're walking up
• 36:01
  Speaker 2: the steps, thirty houses, everybody's on top of each other. No,
• 36:05
  Speaker 2: these people going to work that they may need assistance,
• 36:08
  Speaker 2: they may not need assistance, but they're taking care of
• 36:10
  Speaker 2: those properties. So that's a money maker for me. And
• 36:13
  Speaker 2: when I was buying those people really, like I said,
• 36:15
  Speaker 2: was looking at it as a negative. But when COVID
• 36:17
  Speaker 2: hit and a lot of my investor friends were not
• 36:20
  Speaker 2: getting rent and we would have these discussions and they
• 36:23
  Speaker 2: would storm how you doing? But I can't relate to
• 36:26
  Speaker 2: y'all like I can't because I'm still getting fifteen thousand
• 36:29
  Speaker 2: dollars a month in rent continuously.
• 36:32
  Speaker 6: Section eight. I know VA is something that you spoke
• 36:34
  Speaker 6: about and long term residents.
• 36:37
  Speaker 7: Yes, yes, talk about the importance of that, right, Because
• 36:41
  Speaker 7: I mean one of the things and I heard in
• 36:43
  Speaker 7: I heard you speak about it was rent rules. I
• 36:44
  Speaker 7: haven't heard people really talk about rent rules. But now
• 36:46
  Speaker 7: when you think about it, right, that's the proven method. Right,
• 36:50
  Speaker 7: we're seeing people paying this is they're productive. They haven't
• 36:54
  Speaker 7: been laid how a poort that is because I think
• 36:55
  Speaker 7: that's a step that I think I've heard anybody really
• 36:58
  Speaker 7: talk about when we talk about real estate earns. What's
• 37:00
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• 38:07
  Speaker 6: Terms and conditions apply.
• 38:08
  Speaker 2: Yes, sir, and I'll take credit for that. Don't worry,
• 38:11
  Speaker 2: I'm gonna pick that up. I'll take that definitely, one
• 38:13
  Speaker 2: hundred percent, because, like I said, it's like buying a company.
• 38:16
  Speaker 2: So if I'm looking for a long term tenant, preferably
• 38:19
  Speaker 2: they've been living there over a year and a half.
• 38:21
  Speaker 3: And then I request a rent roll.
• 38:23
  Speaker 2: A rent roll strictly states and shows how long they've
• 38:26
  Speaker 2: been paying rent and if it's been on time, if
• 38:28
  Speaker 2: it's been late. So if I'm looking at this asset
• 38:30
  Speaker 2: and somebody says, here's the payment structure from this asset,
• 38:34
  Speaker 2: they've never defaulted on a payment for an entire year
• 38:36
  Speaker 2: and a half, why am I not gonna buy it?
• 38:39
  Speaker 2: If I buy it, what they're gonna stop making payments?
• 38:42
  Speaker 2: So now I'm like, yeah, I'm buying that company. I'm
• 38:44
  Speaker 2: buying that asset because the money has been proven. It
• 38:46
  Speaker 2: also proves another thing. Either they work city, state, federal,
• 38:50
  Speaker 2: or government jobs and they weren't impacted by COVID.
• 38:53
  Speaker 3: Whatever job they have is needed. So I really want
• 38:56
  Speaker 3: that tenant.
• 38:57
  Speaker 2: And I'll give this example to a lot of my
• 38:58
  Speaker 2: mentees that I teach, Say, if you want to buy
• 39:01
  Speaker 2: a property, I have this nice shiny object, brand newvenovated property.
• 39:05
  Speaker 2: You can get fifteen hundred dollars in rent. You just
• 39:08
  Speaker 2: got to go put a tenant in there. Or there's
• 39:10
  Speaker 2: this other property somebody's been living in there, they've been
• 39:12
  Speaker 2: paying one thousand dollars a month, the property is doing well,
• 39:15
  Speaker 2: they've never been late for two years. Which one would
• 39:18
  Speaker 2: you want? You would go find the tenant. Now you
• 39:21
  Speaker 2: may lose one month of rent, two months of rent
• 39:23
  Speaker 2: till you find a new tenant in there. Then you
• 39:25
  Speaker 2: get a tenant you don't really know the history. You
• 39:27
  Speaker 2: don't really know if their job could whipstand a COVID
• 39:30
  Speaker 2: situation or a downturn, or someone who's been proven that
• 39:34
  Speaker 2: you got twelve thousand dollars coming every single year with
• 39:38
  Speaker 2: a mortgage of about five hundred dollars, Which one you want?
• 39:42
  Speaker 6: I'm taking the letter.
• 39:43
  Speaker 5: The rent road is very important to number Matt. We
• 39:45
  Speaker 5: brought a property with Matt and he was talking about that.
• 39:48
  Speaker 5: He wanted to check that out to see the rent history. Yeah,
• 39:52
  Speaker 5: and that's something that I don't think a lot of
• 39:54
  Speaker 5: people are talking enough about because that's kind of gonna
• 39:58
  Speaker 5: give you a window of what you're getting.
• 40:00
  Speaker 1: Yep.
• 40:00
  Speaker 5: But you could be buying a property and the person
• 40:02
  Speaker 5: has to pay rent for two years, especially if it's
• 40:04
  Speaker 5: state like New York where you really can't even kick
• 40:06
  Speaker 5: people out. It might take two years to kick a
• 40:08
  Speaker 5: tenant out, So you gotta know what you're getting yourself into.
• 40:11
  Speaker 5: And like you said, that'll show even if they're late,
• 40:14
  Speaker 5: if they're late every single month, that's a habit. Yeah,
• 40:18
  Speaker 5: like that's the right flag.
• 40:19
  Speaker 7: Three late payments in a year, you see these things.
• 40:21
  Speaker 7: It's like the same way on a credit report, right,
• 40:24
  Speaker 7: if they see three late payments of any payment on
• 40:27
  Speaker 7: your credit history, now you're not as trustworthy. And so
• 40:29
  Speaker 7: if you look at it from that mindset, it makes
• 40:31
  Speaker 7: more sense, like Wall, I'm not going to get this asset.
• 40:33
  Speaker 7: They're not credit worthy or they're not even worthy to
• 40:35
  Speaker 7: be purchased.
• 40:35
  Speaker 5: But how do you know how you know the landlord
• 40:37
  Speaker 5: is given you accurate information?
• 40:38
  Speaker 3: That's another one great question because I get that a lot.
• 40:42
  Speaker 2: I'm serious.
• 40:43
  Speaker 3: People are saying, how do you know you're get to
• 40:45
  Speaker 3: write information?
• 40:45
  Speaker 2: Not only buy properties that have property managements attached to them,
• 40:49
  Speaker 2: any mom and pop properties, And I'm acting for the
• 40:51
  Speaker 2: rent roll, which I very rarely would buy one from
• 40:54
  Speaker 2: a mom and pop because they don't have a system
• 40:58
  Speaker 2: to keep track of that accurately, so they would have
• 41:01
  Speaker 2: to rely on giving you bank statements. And then I
• 41:04
  Speaker 2: tell people the bank statements of what they're giving you,
• 41:07
  Speaker 2: they're going to be late payments in there, and what
• 41:09
  Speaker 2: they're going to say a lot of times is oh,
• 41:12
  Speaker 2: I got to check it out and have time to deposit.
• 41:14
  Speaker 2: So now you're taking the word of someone who's trying
• 41:17
  Speaker 2: to sell a property to you. That's a problem.
• 41:20
  Speaker 6: Yeah, So that's a lot right, So that I'm trying
• 41:22
  Speaker 6: to draw the team up.
• 41:23
  Speaker 7: In my head, property management is one, but you're not there,
• 41:26
  Speaker 7: So I wonder how important and if this is a
• 41:29
  Speaker 7: part of the team rolls like somebody who's doing the
• 41:31
  Speaker 7: appraisal process for you, or somebody's doing inspection for you, Like,
• 41:35
  Speaker 7: are these are these roles that's part of the team,
• 41:37
  Speaker 7: because if it's out of state and I'm not there.
• 41:39
  Speaker 9: I kind of got to rely on these people. Yeah right, yeah,
• 41:41
  Speaker 9: so is this part of the team. Yes, I call
• 41:43
  Speaker 9: it the money team, right, this is my money team. Now,
• 41:46
  Speaker 9: when you find that first property, the first thing you're
• 41:48
  Speaker 9: going to do, you got to get you a realtor.
• 41:50
  Speaker 9: Because even when you find a property you use the
• 41:53
  Speaker 9: methods that I use, you can't put.
• 41:54
  Speaker 3: The offer in yourself. You need a realtor to put
• 41:56
  Speaker 3: the offer in for you.
• 41:58
  Speaker 2: So my thing is I tell people, get you a
• 42:00
  Speaker 2: realtor through real To, Zillo whatever, and if that property
• 42:04
  Speaker 2: isn't available, what you do is you let the real
• 42:07
  Speaker 2: To know that, Hey, I'm out of state investor who's
• 42:10
  Speaker 2: only interested in tenant occupied properties. If something comes up,
• 42:15
  Speaker 2: send them directly to me. And the reason why they
• 42:17
  Speaker 2: would love to send that to you is because they
• 42:19
  Speaker 2: don't want to split the commission. If you're real To
• 42:22
  Speaker 2: and you get a property and you can sell it,
• 42:24
  Speaker 2: but you go. It was so faster on real To,
• 42:26
  Speaker 2: I just need to split my commission with them. But
• 42:28
  Speaker 2: you said, oh man, I got storm over, he likes
• 42:30
  Speaker 2: tendet occupied. You're gonna call me so I can buy it.
• 42:33
  Speaker 2: You're just gonna give me the information. So it's important
• 42:36
  Speaker 2: to build that relationship with the realta. And after the
• 42:38
  Speaker 2: real To you sign a purchase agreement. You put in
• 42:40
  Speaker 2: certain contingencies when you're buying these properties. The contingencies are
• 42:45
  Speaker 2: you want the rent roll, you want the leases. If
• 42:47
  Speaker 2: it's Section eight, you want to Section eight certification. And
• 42:50
  Speaker 2: the reason why I like to buy properties that are
• 42:52
  Speaker 2: Section eight already tenants in there already is because you're
• 42:56
  Speaker 2: inheriting the certification. People when you buy property, and now
• 42:59
  Speaker 2: you go down town and now you gotta file for
• 43:02
  Speaker 2: Section eight. You gotta wait for an inspection. That takes months.
• 43:05
  Speaker 2: Those mortgage payments are kicking in. But when you buy
• 43:08
  Speaker 2: a property and someone who's Section eight lives there already,
• 43:11
  Speaker 2: they're just sign it over certification to you. You're a
• 43:14
  Speaker 2: Section eight landlord. Now, so now when that person moves out,
• 43:17
  Speaker 2: guess what, you can put another Section eight tenant in there.
• 43:20
  Speaker 2: And if it's a duplex, triplex, or a quad, guess what.
• 43:24
  Speaker 2: You're a sex and eight landlord. You don't have to
• 43:26
  Speaker 2: go downtown, you don't have to do the paperwork. You're
• 43:28
  Speaker 2: inheriting everything that comes with the Section eight property. So
• 43:32
  Speaker 2: that's why that's another thing where I stay away from
• 43:34
  Speaker 2: vacancies and trying to do Section eight. That takes time.
• 43:37
  Speaker 2: So now once I get that, I get my realtor.
• 43:40
  Speaker 2: Now I get the inspector. The realtor is so crucial
• 43:46
  Speaker 2: with referral. See, this is all on relationships. The realtor
• 43:48
  Speaker 2: is going to recommend and inspect her to go inspect.
• 43:51
  Speaker 2: Do the inspector to make sure the property is in
• 43:53
  Speaker 2: good shape. Even though you're buying a property with tenant
• 43:56
  Speaker 2: in it, tenants inside the property. I always sin and
• 44:00
  Speaker 2: I'm gonna drop this now, y'all. Make sure y'all pick
• 44:02
  Speaker 2: this up.
• 44:02
  Speaker 5: It's crucial, very important.
• 44:04
  Speaker 2: Make sure you send your property manager with your inspector.
• 44:09
  Speaker 2: The reason why is because the inspector is going to
• 44:11
  Speaker 2: inspect the property. The property manager is going to inspect
• 44:15
  Speaker 2: the tenants. He's gonna make sure the tenants are not
• 44:18
  Speaker 2: tearing the house up. He's gonna make sure the tennants
• 44:20
  Speaker 2: are keeping.
• 44:20
  Speaker 3: A place clean.
• 44:22
  Speaker 2: He's gonna do all of those things because he doesn't
• 44:24
  Speaker 2: want to now work with a property where he's no
• 44:26
  Speaker 2: he's gonna have to keep coming back here over and
• 44:29
  Speaker 2: over again. So now think about that. I got the
• 44:32
  Speaker 2: real two. Hook me up with the inspector. The inspector
• 44:35
  Speaker 2: can also tell me key things like, oh, this area
• 44:38
  Speaker 2: is coming up, a lot of investors are coming in
• 44:40
  Speaker 2: bing I'm buying more properties in. The inspector can tell
• 44:43
  Speaker 2: me a lot of inspectors are running. I'm not gonna
• 44:46
  Speaker 2: buy properties. The inspector can tell me, oh, they talking
• 44:49
  Speaker 2: about opening up a Walmart. That's crucial. When I bought
• 44:52
  Speaker 2: fifteen properties in Birmingham, Alabama, the main reason was because
• 44:56
  Speaker 2: on Bigger Pockets dot Com we got the word that
• 44:59
  Speaker 2: there was a war, I mean an Amazon Amazon warehouse
• 45:03
  Speaker 2: coming before the news. That's what a community does, that's
• 45:06
  Speaker 2: what inspector's the information that's on the street. So what
• 45:09
  Speaker 2: we did Broop all of us were just buying, buying, buying, buying,
• 45:13
  Speaker 2: So that's another part of the team. So now you
• 45:15
  Speaker 2: also get yourself a handyman or a contracting company. You're
• 45:20
  Speaker 2: not getting them to do fix and flips, right, You're
• 45:22
  Speaker 2: just getting them because when you have a property management
• 45:25
  Speaker 2: they will sometimes outsource repairs. So you want to be
• 45:28
  Speaker 2: able to compare the price with somebody you have just
• 45:31
  Speaker 2: in case you need someone that can get the work done.
• 45:34
  Speaker 3: But you want to also remember everything I'm talking about.
• 45:37
  Speaker 2: It is thinking on a level of delegating duties and
• 45:38
  Speaker 2: becoming a CEO and now being able to expand your
• 45:40
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  Speaker 5: Joe, do you use banks? Money? How's the financing for this?
• 48:59
  Speaker 2: What I do with fun? I don't do banks. It's
• 49:02
  Speaker 2: all commercial lending, hard money LLCs. And the reason why
• 49:06
  Speaker 2: is because I started out with banks. Banks are great
• 49:09
  Speaker 2: up to a point, but banks are designed to make
• 49:12
  Speaker 2: you a homeowner and not an investor. There's this thing
• 49:15
  Speaker 2: called the Golden tickets where you could get ten mortgages
• 49:17
  Speaker 2: with a bank, but that's very hard to achieve. My
• 49:19
  Speaker 2: mentor it's like, yeah, I got ten mortgages, he said,
• 49:22
  Speaker 2: But I'm gonna tell you never to try to do that,
• 49:24
  Speaker 2: because when you're trying to get extra mortgages and now
• 49:27
  Speaker 2: you have to show them all these other properties, you
• 49:29
  Speaker 2: know what they gonna want. They're gonna want all the leases.
• 49:32
  Speaker 2: They're gonna want all the rent rolls. They're gonna want
• 49:33
  Speaker 2: to see your W two's, they're gonna want to see
• 49:36
  Speaker 2: your pay stubs, and by all that time you can
• 49:38
  Speaker 2: lose the property, or by that time the property is
• 49:40
  Speaker 2: not worth getting so now and by that time they
• 49:42
  Speaker 2: could say, well the appraisal things are not meeting where
• 49:45
  Speaker 2: we want. That's time lost. So with hard money, though,
• 49:48
  Speaker 2: especially now in these times, interest rates are just comparable.
• 49:52
  Speaker 2: And for those that say, well hard money always give
• 49:54
  Speaker 2: you higher rates and shorter times and sort of terms,
• 49:57
  Speaker 2: that's not true. You have hard money your commercial lenders.
• 50:00
  Speaker 2: I do thirty year loans that are very comparable with
• 50:03
  Speaker 2: banks at seven percent interests. So I use hard money
• 50:07
  Speaker 2: all day because all they care about is that the
• 50:09
  Speaker 2: asset has equity and it's not underwater.
• 50:12
  Speaker 5: That's it.
• 50:13
  Speaker 3: They don't want to see nothing else. You got to LLC.
• 50:16
  Speaker 2: You got the property that's worth value, the property of
• 50:19
  Speaker 2: praise right now. I could keep doing that over and
• 50:22
  Speaker 2: over again, So I use that hard money.
• 50:24
  Speaker 7: Let's talk about LLCs because I've heard and we've had
• 50:26
  Speaker 7: people say like, hey, every time you get a property,
• 50:28
  Speaker 7: you should make a new LLC for the property. Your
• 50:31
  Speaker 7: method is a little bit different than that to a smile. Right,
• 50:35
  Speaker 7: I've seen that smile before. Can you break down how
• 50:39
  Speaker 7: you formulate or construct your LLCs?
• 50:43
  Speaker 2: Yes, normally with the process. When I first saw, I
• 50:46
  Speaker 2: was getting one LLC for one property, get another LLC
• 50:50
  Speaker 2: for one property.
• 50:51
  Speaker 3: But then I was getting a larger property.
• 50:52
  Speaker 2: And the problem was I didn't have history on the
• 50:55
  Speaker 2: LLC to want to get a million dollar loan.
• 50:57
  Speaker 7: Right, and we're getting LLC so that we protect ourselves, right,
• 51:01
  Speaker 7: it's one hundred percent right. So I want to make
• 51:03
  Speaker 7: sure everybody's clear, Like if I get a property, somebody
• 51:05
  Speaker 7: try to assume me personally, they can't take my property
• 51:07
  Speaker 7: because it's in the LLC.
• 51:08
  Speaker 3: Yes, that's the main purpose of getting the LLC got right.
• 51:12
  Speaker 2: But what I said was, Okay, what I'm going to
• 51:14
  Speaker 2: do is I'm going to buy all my properties moving
• 51:18
  Speaker 2: forward in one LLC.
• 51:21
  Speaker 3: Why because I want to build up the credit history
• 51:23
  Speaker 3: of this one LLC.
• 51:25
  Speaker 2: So now when I say I need a million dollar
• 51:26
  Speaker 2: loan and I showed them to the LLC, they go, okay,
• 51:29
  Speaker 2: he has a million dollar loans worth of loans. Now
• 51:32
  Speaker 2: it's never missed the payment. You can have whatever you want.
• 51:35
  Speaker 2: But Now, just just like you mentioned, how does that
• 51:38
  Speaker 2: help with protecting yourself? So now that's when I create
• 51:43
  Speaker 2: a holding LLC. The holding LLC main purpose is to
• 51:47
  Speaker 2: protect the property and protect the first LLC, which now
• 51:50
  Speaker 2: I will call an acquisition LLC because it's buying properties.
• 51:54
  Speaker 2: So you buy the property in the first LLC, which
• 51:56
  Speaker 2: the acquisition, then you transfer that property into the holding LLC,
• 52:02
  Speaker 2: preferably into an animinity state.
• 52:05
  Speaker 3: Simple, it's gonna sound complicated, staying with me.
• 52:07
  Speaker 2: Very simple. Now we hear about holding LLCs and movies
• 52:10
  Speaker 2: all the time. Oh, he purchased this in his LLC.
• 52:12
  Speaker 2: He's hiding this in the holding LLC. The reason why
• 52:15
  Speaker 2: is because of the power of the animenity. Animenity states LLCs.
• 52:20
  Speaker 2: You can get LLC in any any state, but the
• 52:23
  Speaker 2: animenity states to make this work properly. Is New Mexico, Nevada, Delaware?
• 52:30
  Speaker 2: Yl I mean yep, yeah, exactly. So Now, once you
• 52:33
  Speaker 2: transfer that property into the holding LLC, if somebody was
• 52:36
  Speaker 2: the slip and fall and try to sue that LLC,
• 52:39
  Speaker 2: remember it's no longer in the acquisition. So your mortgage
• 52:42
  Speaker 2: is cool, that a loan is cool. You can buy more,
• 52:44
  Speaker 2: but if somebody was the fall, and now that property
• 52:47
  Speaker 2: is in the holding LLC, you're protected. Your mortgage isn't
• 52:51
  Speaker 2: attached to it, so they cannot sue you.
• 52:54
  Speaker 3: But which, you know, what makes it even more sweet.
• 52:56
  Speaker 3: And this is the part we have to look at.
• 52:58
  Speaker 2: When the LLC is an animinity state and compared to it,
• 53:02
  Speaker 2: it's not an animenity state. If someone sues your LLC
• 53:05
  Speaker 2: and it's in let's say New Jersey, they say, we
• 53:08
  Speaker 2: can't sue him, so we're just gonna settle for whatever
• 53:11
  Speaker 2: we can get. But let's look in Google and.
• 53:14
  Speaker 3: See who owns the LLC. Oh Man Troy, he.
• 53:17
  Speaker 2: Owns this LLC. That's a civil lawsuit. All day people
• 53:22
  Speaker 2: have been sued who owned the LLCs through civil lawsuits.
• 53:25
  Speaker 2: Because your name is exposed and now they know what
• 53:28
  Speaker 2: you own. Why do they call it a holding LLC?
• 53:31
  Speaker 2: Why they use animenity states specifically because of this reason.
• 53:35
  Speaker 2: We just haven't took it on to do a little
• 53:38
  Speaker 2: deep diving into that. So now it's protected in the
• 53:40
  Speaker 2: holding LLC. But now here's another thing. Well, you're collecting rent.
• 53:45
  Speaker 2: Where's the rent going? Now you have another LLC for
• 53:48
  Speaker 2: property management because you become a property manager. The rent's
• 53:52
  Speaker 2: going to the property management LLC. And the main reason
• 53:55
  Speaker 2: because if you were to collect rent in the same
• 53:57
  Speaker 2: LLC as the property and somebody's slips and fall, they
• 54:01
  Speaker 2: freeze all the assets, that includes the bank accounts, that
• 54:05
  Speaker 2: includes your money. So now you have a property management
• 54:09
  Speaker 2: a property management LLC in the states you live in,
• 54:13
  Speaker 2: because you're going to be doing taxes collecting that money.
• 54:16
  Speaker 2: So now if you have properties out of state, they're
• 54:18
  Speaker 2: going to pay you and your property management LLC and
• 54:20
  Speaker 2: you will not have to pay me. Slow down on
• 54:22
  Speaker 2: this part. You will not pay property taxes and those
• 54:27
  Speaker 2: other states because your property management companies collecting their money
• 54:31
  Speaker 2: and they're now wiring you the money in your state.
• 54:34
  Speaker 2: The only taxes you have to pay is a business
• 54:37
  Speaker 2: privileged tax. So if you're making thousands of dollars in
• 54:41
  Speaker 2: that other state, you just pay a business privileged tax
• 54:44
  Speaker 2: for doing business in that state, which is normally three
• 54:46
  Speaker 2: hundred and four hundred dollars.
• 54:49
  Speaker 5: So all right, let me ask you this. Are you
• 54:52
  Speaker 5: talking about living trust and how that change your life?
• 54:54
  Speaker 5: Can you talk about that?
• 54:56
  Speaker 2: Yeah, in twenty nineteen, my life changed, buying real estate,
• 55:00
  Speaker 2: doing all these great things I understood the value of
• 55:02
  Speaker 2: having real estate and wanting to hand it over to
• 55:05
  Speaker 2: my legacy to create a legacy with that. But once
• 55:08
  Speaker 2: I actually went to create a living trust and I
• 55:11
  Speaker 2: saw what it can do, That's when I knew I
• 55:14
  Speaker 2: had a bigger narrative I needed to share with the people.
• 55:17
  Speaker 2: So my thing was, I looked at who created a
• 55:21
  Speaker 2: living trust to hand it down through the legacy, and
• 55:24
  Speaker 2: I said, it's Rockefeller. So I went on to read
• 55:27
  Speaker 2: the Rockefeller Trust from nineteen thirty four, and also there's
• 55:30
  Speaker 2: a book called what would Rockefeller Do? So I stayed
• 55:32
  Speaker 2: up reading all these things about how he would take this,
• 55:35
  Speaker 2: put it in an account and only give a portion
• 55:38
  Speaker 2: to the legacy, and then have his children create a trust.
• 55:41
  Speaker 2: And now that money compound interest. He wouldn't give it
• 55:43
  Speaker 2: to him until they turn a certain age. And I'm like,
• 55:46
  Speaker 2: I could do that.
• 55:47
  Speaker 5: We can do that.
• 55:48
  Speaker 2: The information was right there. So I sat down with
• 55:50
  Speaker 2: my trust attorney. I said, I want to do that, Like, well,
• 55:53
  Speaker 2: you want to do it, but I want to do that.
• 55:55
  Speaker 2: It can be done. So we structured it, worked it
• 55:58
  Speaker 2: out where if not if but unfortunately we all pass away.
• 56:02
  Speaker 2: When I pass away, a percentage of my properties would
• 56:05
  Speaker 2: be sold, not the ones that I hold long term,
• 56:09
  Speaker 2: like I have properties I do keep my short term properties,
• 56:12
  Speaker 2: those would be sold. That money would now go into
• 56:15
  Speaker 2: a brokerage account. That brokerage account would be in the
• 56:18
  Speaker 2: name of the trust. That money for that specific account
• 56:22
  Speaker 2: would be for my grandchildren starting off, not my immediate family.
• 56:26
  Speaker 2: My immediate family would get my life insurance policies, which
• 56:30
  Speaker 2: are millions of dollars policies, and the main properties that.
• 56:33
  Speaker 3: I hold, so they are taken care of.
• 56:35
  Speaker 2: But we need to start thinking about the grandkids, the
• 56:38
  Speaker 2: great grandkids, those generations. How do you start their growth?
• 56:41
  Speaker 2: You start their growth by putting that money in a
• 56:43
  Speaker 2: brokerage account, and they don't get that money until they
• 56:46
  Speaker 2: turn twenty one years old. So let's use the example
• 56:49
  Speaker 2: of a million dollars. I put a million dollars in
• 56:51
  Speaker 2: a brokerage account for my grandkids. They don't get that
• 56:53
  Speaker 2: till they turn twenty one, gaining six percent interest six
• 56:56
  Speaker 2: percent interest. They say, that's twenty one. So that money
• 56:59
  Speaker 2: turn answer to about three point eight million dollars for
• 57:02
  Speaker 2: my grandkids.
• 57:03
  Speaker 3: My grandkids, they wouldn't get it.
• 57:05
  Speaker 2: All that we could have about one point six till
• 57:07
  Speaker 2: I leave one point six in there for my great
• 57:10
  Speaker 2: grandchildren for twenty one years.
• 57:12
  Speaker 3: That now turns into about three four five six.
• 57:15
  Speaker 2: That turns into about six point seven million dollars for
• 57:18
  Speaker 2: my great grandchildren. They don't get it all they could have,
• 57:22
  Speaker 2: so now that's about one point one know, about two
• 57:25
  Speaker 2: point two point three two point three stays in for
• 57:28
  Speaker 2: my great great grandchildren, so they get about eight point
• 57:32
  Speaker 2: one million dollars. You see how that happens. That's compound
• 57:35
  Speaker 2: interest over twenty one years. So we have to look
• 57:39
  Speaker 2: at that number. But what makes the trigger and the
• 57:41
  Speaker 2: explosion even bigger is the fact that what Rockefeller did
• 57:45
  Speaker 2: is that was just his trust. What he did was,
• 57:49
  Speaker 2: now each children opened up, each child opened up a trust.
• 57:52
  Speaker 2: So now his children had a trust, so he would
• 57:55
  Speaker 2: pay his grandchildren, and his children would pay them. That's twice.
• 57:58
  Speaker 2: So now his grand his children, and then his grandchildren
• 58:00
  Speaker 2: have a trust, so his great grandchildren would get paid
• 58:03
  Speaker 2: three times. So now if we look at rocket fuller
• 58:05
  Speaker 2: trust paid out now eleven generations and counting continuously. And
• 58:11
  Speaker 2: what he also did was have a life insurance policy
• 58:13
  Speaker 2: on every person in the trust, creating his own bank.
• 58:17
  Speaker 3: And now what does that do?
• 58:18
  Speaker 2: This is my structure. Also, any one of my children
• 58:21
  Speaker 2: or grandchildren who want to start a business, what do
• 58:23
  Speaker 2: they do? Talk to the trustees and now you borrow money.
• 58:27
  Speaker 2: We become our own bank. So when someone dies, that
• 58:29
  Speaker 2: money goes into the trust. You pay when you get
• 58:32
  Speaker 2: the policy, you pay it out right. So now that
• 58:34
  Speaker 2: money is available in the trust. So now also what
• 58:36
  Speaker 2: I did was I retweaked my trust last year and
• 58:40
  Speaker 2: it was twenty one that I wouldn't give them money.
• 58:42
  Speaker 2: I changed it. I changed the way they get money
• 58:44
  Speaker 2: at eighteen and they can have a business started at eleven.
• 58:47
  Speaker 2: You know why because now with technology, kids are now
• 58:50
  Speaker 2: figuring out new ways to start a business. So I
• 58:53
  Speaker 2: want them to be able to present a business loan,
• 58:56
  Speaker 2: a business proposal to the trustees so they could borrow money.
• 59:00
  Speaker 2: These are the things where we don't look at them.
• 59:02
  Speaker 2: When people say I don't have the money to do this.
• 59:03
  Speaker 2: You know what I tell them, Yes, you do. The
• 59:06
  Speaker 2: air you breathe is money a life insurance policy. Soon
• 59:10
  Speaker 2: as you die, you worth money. Their generations and their
• 59:13
  Speaker 2: groups of people when people die, their objectives to make
• 59:16
  Speaker 2: sure they have a policy on their grandmother policy on
• 59:18
  Speaker 2: their father to do exactly what we're talking about. But
• 59:20
  Speaker 2: we look at us taboo when it can't be taboo.
• 59:23
  Speaker 2: It shouldn't be taboo. The main thing about it is
• 59:25
  Speaker 2: you're thinking about the legacy. And when I tell people,
• 59:28
  Speaker 2: when I speak to you, I'm not speaking You don't speaking.
• 59:30
  Speaker 3: To your ley legacy.
• 59:31
  Speaker 2: You're just a vessel for me to get the message
• 59:33
  Speaker 2: to you so you can hear the message and see
• 59:36
  Speaker 2: it and it reverberates in your brain. And as it's
• 59:39
  Speaker 2: doing this, you literally are talking to your legacy while
• 59:42
  Speaker 2: I'm speaking, going I got you, don't worry. Storm told
• 59:45
  Speaker 2: me how to do it. Now I'm gonna give me
• 59:47
  Speaker 2: a life insurance policy. When people have a life insurance policy,
• 59:50
  Speaker 2: let's say roughly four million dollars, you have half a
• 59:53
  Speaker 2: million dollars left on your home mortgage, and you say
• 59:55
  Speaker 2: to yourself, I'm leaving my family a million dollar. Actually
• 59:58
  Speaker 2: you're not, because when you die, that policy has to
• 1:00:02
  Speaker 2: pay half a million to the mortgage so they can
• 1:00:04
  Speaker 2: stay in the house. You're only leaving them half a
• 1:00:06
  Speaker 2: million dollars. We don't think about that mortgage behind us.
• 1:00:09
  Speaker 3: So this is where I say, get yourself a whole life.
• 1:00:12
  Speaker 2: Excuse me, get yourself a term that's for half a
• 1:00:16
  Speaker 2: million or a million dollars just to cover the house
• 1:00:19
  Speaker 2: so your real policy doesn't get broken up. And now
• 1:00:22
  Speaker 2: you have that term, pay off the mortgage, any money left,
• 1:00:25
  Speaker 2: put it in a broken'e account, and now you start
• 1:00:27
  Speaker 2: the system.
• 1:00:29
  Speaker 5: So let's stay on this conversation about the trust for
• 1:00:30
  Speaker 5: a minute. So irrevocable life insurance trust or a.
• 1:00:34
  Speaker 2: Revocable Left's just start off as a revocable voc because
• 1:00:37
  Speaker 2: you want to.
• 1:00:37
  Speaker 5: Be able to say and you can change it. Yes,
• 1:00:41
  Speaker 5: all right? So all right, so who set this up
• 1:00:43
  Speaker 5: for you? Your attorney? Yeah, my statement, you told them
• 1:00:46
  Speaker 5: or they you educated them when they educated you. Obviously
• 1:00:48
  Speaker 5: they're already educated because their attorney where it sounds like
• 1:00:51
  Speaker 5: you kind of already had some idea of what you
• 1:00:52
  Speaker 5: wanted to do because you did some reading before that.
• 1:00:55
  Speaker 5: So what was the process? You kind of said, this
• 1:00:57
  Speaker 5: is what I want to do, and then they kind
• 1:00:59
  Speaker 5: of add to it or they said this is what
• 1:01:01
  Speaker 5: you should do.
• 1:01:03
  Speaker 2: I came to them with my plan and my structure first,
• 1:01:05
  Speaker 2: and I really wasn't taking a note for an answer
• 1:01:07
  Speaker 2: because I know it could be done. And there are
• 1:01:09
  Speaker 2: some people that, like there are mechanics who cars are broke, like,
• 1:01:14
  Speaker 2: they just don't know fully how to do certain things.
• 1:01:17
  Speaker 2: So you really have to find the right person that
• 1:01:20
  Speaker 2: does these things. And I would always say, speak to
• 1:01:22
  Speaker 2: someone who has a trust, speak to someone who you know.
• 1:01:26
  Speaker 2: They can refer you to someone, but that takes time,
• 1:01:29
  Speaker 2: but they would give me little tidbits of where we
• 1:01:32
  Speaker 2: can do this, or they have a network of people
• 1:01:35
  Speaker 2: and a law firm and they reach out to them.
• 1:01:37
  Speaker 3: Like my first trust cost me about twelve thousand dollars.
• 1:01:40
  Speaker 2: My newest one costs me roughly almost twenty thousand because
• 1:01:43
  Speaker 2: I have a lot of things to fund it with.
• 1:01:46
  Speaker 2: But if starting out, trust probably run you anywhere from
• 1:01:49
  Speaker 2: three to six thousand dollars. But you have to look
• 1:01:51
  Speaker 2: at the big picture. But I started out having a
• 1:01:54
  Speaker 2: plan and I really really was adamant about getting this
• 1:01:57
  Speaker 2: structure done.
• 1:01:58
  Speaker 5: That was it for me.
• 1:01:59
  Speaker 2: You have a will too, Yeah, with the trust, there's
• 1:02:02
  Speaker 2: a thing called a poor over will that's attached to
• 1:02:05
  Speaker 2: the trust for all the items that you don't put
• 1:02:07
  Speaker 2: into the trust automatically pulls over and fall into the will,
• 1:02:11
  Speaker 2: like jewelry, like things that are air looms, it'll automatically
• 1:02:15
  Speaker 2: go in that will.
• 1:02:15
  Speaker 7: Yeah, I'm saying that thinking obviously you're educated. How often
• 1:02:19
  Speaker 7: are you meeting with your trust attorney? Because I was
• 1:02:21
  Speaker 7: having a conversation with a young lady the other day
• 1:02:23
  Speaker 7: and she's finding it hard to have her parents, you know,
• 1:02:26
  Speaker 7: even buy into the idea of a trust. So how
• 1:02:28
  Speaker 7: often did you meet with family if you did at all?
• 1:02:31
  Speaker 7: And how often did you meet with the trust attorney?
• 1:02:33
  Speaker 7: Is that like a once a year thing or was
• 1:02:35
  Speaker 7: it every six months? Because I'm sure you acquiring properties
• 1:02:37
  Speaker 7: and other assets throughout the year, Like, how often is
• 1:02:41
  Speaker 7: that happening?
• 1:02:42
  Speaker 2: In the beginning, when I started, we had to have
• 1:02:44
  Speaker 2: a conversation literally it was about almost every other week,
• 1:02:47
  Speaker 2: sometimes every week to plan us out with insurance and
• 1:02:50
  Speaker 2: all that stuff. Very complicated. But once it was set,
• 1:02:54
  Speaker 2: the updating of the trust is every three years, right,
• 1:02:57
  Speaker 2: but if there's something of urgency that I need to update,
• 1:03:00
  Speaker 2: because here's the thing, and I want to throw this
• 1:03:02
  Speaker 2: part also, I'm gonna drop it. Y'all pick this up.
• 1:03:05
  Speaker 2: When you're buying things in you're holding company, you're holding
• 1:03:08
  Speaker 2: LLC should be in the name of your trust. So
• 1:03:11
  Speaker 2: if something happens to you, the properties automatically fall into
• 1:03:17
  Speaker 2: the trust, automatically fall in there, So you don't have
• 1:03:21
  Speaker 2: to fund the trust because the trust own the LLC.
• 1:03:26
  Speaker 2: So if let me give a quick example. You know
• 1:03:29
  Speaker 2: how you put your name on every single LLC. You
• 1:03:31
  Speaker 2: open up a LLC, you put your name on it,
• 1:03:33
  Speaker 2: You open up the LLC, you put your name on it.
• 1:03:35
  Speaker 2: But if you was to have the property one two
• 1:03:37
  Speaker 2: three Smith Street in its own LLC, the name on
• 1:03:41
  Speaker 2: that LLC would not be you, it would be your trust.
• 1:03:46
  Speaker 2: So if something ever happens, it automatically goes to the
• 1:03:50
  Speaker 2: trust because you sign the trust over as the owner.
• 1:03:53
  Speaker 2: Does that make sense? Automatically so would trinkle effect. So
• 1:03:57
  Speaker 2: with that being said, excuse me. So with that being said, said,
• 1:04:00
  Speaker 2: you wouldn't have to fund one at a time. You
• 1:04:02
  Speaker 2: could just have that trust on all these LLCs bile
• 1:04:06
  Speaker 2: straight in from your holding. But also, to let me
• 1:04:09
  Speaker 2: not glaze over something you said, it's so important to
• 1:04:13
  Speaker 2: have the conversation with your family and sit them down
• 1:04:15
  Speaker 2: and explain. Because my thing was, afterything's said and done,
• 1:04:19
  Speaker 2: my lawyer, we would have the conversation with each one
• 1:04:21
  Speaker 2: of them here's who's getting this. Who's the trust there's
• 1:04:25
  Speaker 2: the trustee. This is what's going to happen. This is
• 1:04:28
  Speaker 2: what it's supposed to be. I want you to do this,
• 1:04:31
  Speaker 2: and it's a thing I'll call a letter of trust handwritten.
• 1:04:34
  Speaker 2: I want this copy of this letter in my hand
• 1:04:37
  Speaker 2: written form and my signature be copied for every generation,
• 1:04:41
  Speaker 2: every trustee, so they could look and go he thought
• 1:04:43
  Speaker 2: about me. I want them to see what I meant
• 1:04:47
  Speaker 2: and why I did this, because that's powerful and they
• 1:04:52
  Speaker 2: will get it and go. Man, my great great grandfather
• 1:04:55
  Speaker 2: thought about me. So that letter you don't have to.
• 1:04:59
  Speaker 2: But the thing is always impact. So you need to
• 1:05:02
  Speaker 2: have that discussion with your kids, your grandkids. There's only
• 1:05:06
  Speaker 2: so far trust can go. It only could go to
• 1:05:08
  Speaker 2: the last person alive in your generation up to a
• 1:05:12
  Speaker 2: certain age. So like if I have my grandchildren, my
• 1:05:16
  Speaker 2: last one or he would have to now take the
• 1:05:19
  Speaker 2: trust format and restart it again and follow the same thing.
• 1:05:23
  Speaker 2: Trust can't live on an infamy.
• 1:05:25
  Speaker 7: So you've created the generational wealth and the other part
• 1:05:28
  Speaker 7: was just the sustainable wealth yep, Like that's the key, right,
• 1:05:31
  Speaker 7: because it could get mixed up from generation generation. Yeah,
• 1:05:33
  Speaker 7: but what you're doing is pretty much putting up the
• 1:05:35
  Speaker 7: barriers like, no, we're going to sustain this forever forever.
• 1:05:39
  Speaker 2: The biggest, biggest mistake that a lot of people make,
• 1:05:41
  Speaker 2: unfortunately when we have real estate is thinking that our
• 1:05:44
  Speaker 2: children want to be landlords. We can't. We can't assume
• 1:05:48
  Speaker 2: that they want to be landlords. I had a friend
• 1:05:51
  Speaker 2: of mine who I knew through someone else. He died,
• 1:05:54
  Speaker 2: didn't have a trust, left the properties to his kids
• 1:05:58
  Speaker 2: in a will. They so long because they didn't want
• 1:06:01
  Speaker 2: nothing to do with real estate. That's that destroyed me
• 1:06:04
  Speaker 2: because I knew what his objective was. So we need
• 1:06:07
  Speaker 2: to put things in place to go, Okay, if you
• 1:06:09
  Speaker 2: don't want to be a landlord, this is what we're
• 1:06:10
  Speaker 2: gonna do. I'ma have a company do this, or we're
• 1:06:13
  Speaker 2: gonna sell it. Put the properties in the brokerage account
• 1:06:16
  Speaker 2: where it's gaining compound interest to do something. So that's
• 1:06:20
  Speaker 2: the key. We need to stop, you know, really projecting
• 1:06:23
  Speaker 2: our our wants and needs on children and grandkids when.
• 1:06:26
  Speaker 3: They're like, yeah, I got my own plan, that's free,
• 1:06:29
  Speaker 3: that's COO.
• 1:06:29
  Speaker 5: Can you give a financial breakdown on how you was
• 1:06:31
  Speaker 5: able to replace your salary?
• 1:06:32
  Speaker 2: Yeah, real quick. The financial breakdown structure for me was
• 1:06:36
  Speaker 2: I brought that one property, was making that six thousand
• 1:06:39
  Speaker 2: a year, and then after making US six thousand a year,
• 1:06:43
  Speaker 2: I said, I'm gonna keep doing this. But I took
• 1:06:46
  Speaker 2: the tax returns and that money equated. But what triggered
• 1:06:49
  Speaker 2: it was creating group economics partnerships. We need to understand
• 1:06:56
  Speaker 2: the value of creating partners and how fast you can
• 1:06:59
  Speaker 2: grow your portfolio with properties with partners. People say I
• 1:07:02
  Speaker 2: have one hundred doors, right, They don't have one hundred
• 1:07:05
  Speaker 2: doors by themselves. They have like ten partners, which is
• 1:07:08
  Speaker 2: great because they're expanding their money. Why would you take
• 1:07:11
  Speaker 2: one million dollars to buy one property if you could
• 1:07:13
  Speaker 2: take one million dollars to spread down across five properties,
• 1:07:17
  Speaker 2: that's five buildings grow in equity, that's five different properties.
• 1:07:21
  Speaker 2: You're riding off on taxes. That's a whole nother scenario
• 1:07:25
  Speaker 2: having riding off taxes. When you have a property management LLC,
• 1:07:29
  Speaker 2: you're able to write off a portion of your light,
• 1:07:31
  Speaker 2: gas car. You need to knowledge there's apps like Avalance
• 1:07:35
  Speaker 2: cell phone, like, we don't take advantage of that portion
• 1:07:39
  Speaker 2: of the business because we go Now I'm just gonna
• 1:07:42
  Speaker 2: pay my tax when a wealthy is really maneuvering through
• 1:07:45
  Speaker 2: the proper structure of taxes, because providing housing and jobs
• 1:07:49
  Speaker 2: is the biggest thing that the government gives you is
• 1:07:51
  Speaker 2: a tax break, and we don't take advantage.
• 1:07:54
  Speaker 3: We should take advantage of those taxes.
• 1:07:57
  Speaker 2: I make a good amount of money on my taxes
• 1:07:59
  Speaker 2: because of having a property management LLC and a home office.
• 1:08:04
  Speaker 2: A certain amount of your home you use it as
• 1:08:06
  Speaker 2: an office, square footage, the computer you buy, write off, desk, printers,
• 1:08:12
  Speaker 2: everything I mentioned. It's a write off. But we don't
• 1:08:15
  Speaker 2: take advantage of that. Even even in the inception of
• 1:08:18
  Speaker 2: having a business, you're taking a loss. You have a
• 1:08:22
  Speaker 2: credit card, you don't have a business account, yet you
• 1:08:24
  Speaker 2: can still write a portion of that off until you
• 1:08:26
  Speaker 2: get a business account with an EI in and a
• 1:08:29
  Speaker 2: business credit card because you need it to start your business. See,
• 1:08:32
  Speaker 2: these are the things where we need to have that.
• 1:08:35
  Speaker 3: Discussion and go, oh, that's dope, that's dope.
• 1:08:38
  Speaker 2: But unfortunately a lot of times that what happens is
• 1:08:41
  Speaker 2: we tend to compare how you're making money and I'm
• 1:08:43
  Speaker 2: making money and say you're doing it wrong, and that's
• 1:08:46
  Speaker 2: not true. There's so many different ways of making money,
• 1:08:48
  Speaker 2: especially in real estate. Be like, oh, that's dope, I'm
• 1:08:51
  Speaker 2: not doing it that way, but here's how I do it.
• 1:08:53
  Speaker 2: A word, I got.
• 1:08:54
  Speaker 3: Somebody who will like your way of doing it.
• 1:08:57
  Speaker 2: And now the story gets bigger and bigger collaborating Like
• 1:09:01
  Speaker 2: how you two guys collaborated, It's beautiful.
• 1:09:04
  Speaker 3: Look at the growth of that. I collaborated with my guys.
• 1:09:06
  Speaker 2: Ask the Marvin Mitchell for Path of prosperity collaboration and
• 1:09:10
  Speaker 2: now we're gonna touch thousands of people.
• 1:09:13
  Speaker 3: So yeah, I know I took it to all another
• 1:09:14
  Speaker 3: places for us.
• 1:09:17
  Speaker 7: You talked about partnerships, but there's something even when we
• 1:09:20
  Speaker 7: started this episode about being in the right place all
• 1:09:23
  Speaker 7: the time. Yes, and so being in that room with
• 1:09:25
  Speaker 7: Juvenile you got to introduce to us. Ash was there too,
• 1:09:28
  Speaker 7: and you knew him, and he was like, Yo, this
• 1:09:30
  Speaker 7: is my guy.
• 1:09:31
  Speaker 5: Right.
• 1:09:31
  Speaker 7: We went to him five hundreds event we were together there.
• 1:09:34
  Speaker 7: He talked about being in the right place all the time.
• 1:09:37
  Speaker 7: Because I feel like you're one of those people who
• 1:09:39
  Speaker 7: really personify that, right, Like I'm always seeing you everywhere
• 1:09:42
  Speaker 7: and I'm like I'm watching you and you text me like, Yo,
• 1:09:45
  Speaker 7: it's in my time, like, yo, bro, we're watching we
• 1:09:46
  Speaker 7: see what's going on.
• 1:09:47
  Speaker 6: He talk about that.
• 1:09:48
  Speaker 2: Yeah, it's so important to invest in yourself and be
• 1:09:51
  Speaker 2: in the right room, Like that's you cannot gain that
• 1:09:55
  Speaker 2: just being around the same people. And that really was
• 1:09:58
  Speaker 2: self explanatory my two friends when I went to go
• 1:10:01
  Speaker 2: see that Browns home, like me being in that room,
• 1:10:04
  Speaker 2: being in this room, that where I can talk to
• 1:10:06
  Speaker 2: other people, I can network, people can fill my energy.
• 1:10:10
  Speaker 2: You guys get to see the real me besides just
• 1:10:12
  Speaker 2: watching a post. People get to find out that, oh,
• 1:10:15
  Speaker 2: you actually investing in your growth, you actually doing something
• 1:10:19
  Speaker 2: like this thing that's inside of me. This can't really
• 1:10:21
  Speaker 2: come through a camera and a post the way that
• 1:10:23
  Speaker 2: I wanted to because I'm passionate about this. But then
• 1:10:26
  Speaker 2: when I talk to you guys, sometimes it's a little
• 1:10:28
  Speaker 2: too much of a passion. But you know what is like,
• 1:10:32
  Speaker 2: this is all I have because really talking to my
• 1:10:34
  Speaker 2: people and trying to change our lives. I know my
• 1:10:37
  Speaker 2: purpose of being here is to be in the right
• 1:10:39
  Speaker 2: room and change lives, and I can't do that through
• 1:10:41
  Speaker 2: that screen. I need for you to be able to
• 1:10:44
  Speaker 2: hear me and see me, and through these interviews and stuff,
• 1:10:47
  Speaker 2: like that and go. He just says something that motivate
• 1:10:51
  Speaker 2: me and did something. So for those of you that
• 1:10:54
  Speaker 2: think like me and you feel like me, we're not
• 1:10:56
  Speaker 2: gonna get that. If you're in that room, we need
• 1:10:58
  Speaker 2: you to come out be around I like minded people.
• 1:11:01
  Speaker 2: Invest in yourself, pay for those mentorships, Pay to go
• 1:11:04
  Speaker 2: to these places, fly to New York, fly to La Fi,
• 1:11:07
  Speaker 2: to Miami. Let people see you beat be very active
• 1:11:11
  Speaker 2: in comments, commenting, posting, talking like when you're doing that,
• 1:11:17
  Speaker 2: people notice I started with one person online going live,
• 1:11:21
  Speaker 2: I started teaching four people on a zoom now staying consistent.
• 1:11:27
  Speaker 2: So I highly recommend you guys do that.
• 1:11:29
  Speaker 5: When did you when we were able to quit your job?
• 1:11:32
  Speaker 2: I quit my job literally in twenty fifteen, I said
• 1:11:36
  Speaker 2: five years, and in twenty twenty I was ready to
• 1:11:39
  Speaker 2: quit my job. I was able to leave me.
• 1:11:41
  Speaker 6: He ain't quit his job. He fired his job.
• 1:11:43
  Speaker 2: You know what I mean.
• 1:11:43
  Speaker 6: They couldn't afford them anymore.
• 1:11:45
  Speaker 5: So how many properties did that take you to be
• 1:11:48
  Speaker 5: able to do that?
• 1:11:48
  Speaker 2: Well? When I I was able to leave in twenty twenty,
• 1:11:51
  Speaker 2: I stayed one more year. And the reason why because
• 1:11:55
  Speaker 2: I was getting all my medical benefits I wasn't gonna
• 1:11:58
  Speaker 2: leave with all giving you all them years and lead
• 1:12:01
  Speaker 2: that medical behind. So I stayed till twenty twenty one,
• 1:12:04
  Speaker 2: and I got all my properties, I mean, excuse me,
• 1:12:06
  Speaker 2: and I got all my medical benefits. I left my
• 1:12:08
  Speaker 2: job oning twenty four properties, and I was doing about
• 1:12:12
  Speaker 2: fifteen thousand a month at that time, and I'm currently well,
• 1:12:16
  Speaker 2: I'm selling now, downgrading some of the properties to do
• 1:12:19
  Speaker 2: bigger deals. But I bought over thirty six properties around
• 1:12:22
  Speaker 2: the United States that I've never seen to this day,
• 1:12:24
  Speaker 2: and I don't plan on seeing them ever, none of them.
• 1:12:27
  Speaker 7: The medical was the number one thing, because a lot
• 1:12:28
  Speaker 7: of times it's usually like a financial goal, Like I
• 1:12:31
  Speaker 7: remember being in the education system and I'm like, if
• 1:12:34
  Speaker 7: I could just reach this goal, I'm out of here.
• 1:12:35
  Speaker 7: Then you reached the goal and you sit, you set
• 1:12:37
  Speaker 7: another one, you said, another one, he said another one,
• 1:12:39
  Speaker 7: till it's like, well, this doesn't make sense. Was it
• 1:12:42
  Speaker 7: just the medical or was there a financial aspect too
• 1:12:44
  Speaker 7: that was like if I hit this number, then the verrizonocks.
• 1:12:49
  Speaker 2: No, I want sents. The medical Like once the medical
• 1:12:52
  Speaker 2: kicked in, I left. I could have stayed five more
• 1:12:56
  Speaker 2: years for four pension. I didn't get a four pension right, so,
• 1:12:59
  Speaker 2: and I was doing about a hundred thousand dollars a year.
• 1:13:01
  Speaker 2: So I left with five years left. So I left
• 1:13:03
  Speaker 2: half a million dollars on the table, not including overtime,
• 1:13:05
  Speaker 2: like in Verizon overtime, you can make a quarter million
• 1:13:07
  Speaker 2: dollars a year easy through in the like in overtime.
• 1:13:11
  Speaker 2: But I left that money, and then I left the
• 1:13:12
  Speaker 2: extra pension money. So I left almost a million dollars.
• 1:13:15
  Speaker 2: But it would have took me five more years when
• 1:13:20
  Speaker 2: I can make a million dollars in a month or
• 1:13:22
  Speaker 2: day or two days or three days, depending on up
• 1:13:25
  Speaker 2: to me. So, but I wanted the medical because this
• 1:13:29
  Speaker 2: like medical has bankrupt people. Medical you get sick, wife
• 1:13:33
  Speaker 2: gets sick, kids get sick, somebody gets sick. You can
• 1:13:35
  Speaker 2: lose it all. So the goal was to get the
• 1:13:37
  Speaker 2: medical and the thought process of how important it is
• 1:13:40
  Speaker 2: to be around the right people, like I'll never forget.
• 1:13:42
  Speaker 2: I went in on Instagram live the day I was
• 1:13:45
  Speaker 2: leaving the job. I said, look, I'm driving in. I'm like, Yo,
• 1:13:47
  Speaker 2: this is it. I'm leaving the job, y'all, Like I
• 1:13:50
  Speaker 2: can't believe this moment, you know, I spoke about it,
• 1:13:53
  Speaker 2: brought it to it. Ziah could do the same thing,
• 1:13:55
  Speaker 2: and you know, and I went in and had ask
• 1:13:57
  Speaker 2: hat shirt, and people like, yo, you can back to work.
• 1:14:01
  Speaker 2: I said, y'all think I'm coming back like this, So no,
• 1:14:04
  Speaker 2: I'm out of here. And the mindset was the mindset
• 1:14:07
  Speaker 2: was scary because there was like, no, you really just
• 1:14:09
  Speaker 2: stay Yo, five more years, man, you're five more years.
• 1:14:13
  Speaker 2: You could get a full pension. I say, Yo, God
• 1:14:15
  Speaker 2: bless you. Man.
• 1:14:17
  Speaker 6: They don't get God blessed.
• 1:14:17
  Speaker 2: Some people would never get it. There's Indians, there's chiefs,
• 1:14:20
  Speaker 2: there's buyers, there's sellers, there's owners and his renters. That's
• 1:14:23
  Speaker 2: how it's meant to be. Life is definitely going to
• 1:14:25
  Speaker 2: be like that. You can't save everyone like us trying
• 1:14:28
  Speaker 2: to save someone. That's a problem because not all lives
• 1:14:33
  Speaker 2: are meant to be saved. Some lives were meant to
• 1:14:35
  Speaker 2: be examples of what you should never do in life.
• 1:14:38
  Speaker 2: Some people lives were meant to crash and burn to
• 1:14:40
  Speaker 2: be an example for twenty other people to go, I
• 1:14:42
  Speaker 2: don't ever want to be like him. That was their destiny.
• 1:14:46
  Speaker 2: But when you run around you're trying to save people lives. Now,
• 1:14:48
  Speaker 2: you're stopping yourself from growing to your full potential because
• 1:14:50
  Speaker 2: you're trying to be a life saver, so you'll never
• 1:14:52
  Speaker 2: reach your potential. So now there's two groups of people
• 1:14:55
  Speaker 2: caught in the mix. You have people like us where
• 1:14:57
  Speaker 2: we go. We could look and go, well, I know
• 1:14:59
  Speaker 2: my per of what I'm supposed to do. That destiny
• 1:15:02
  Speaker 2: has already been spoken for them, in mine has been
• 1:15:04
  Speaker 2: chosen for me. So I don't think about trying to
• 1:15:07
  Speaker 2: change somebody's mind when it's already been set in stone.
• 1:15:10
  Speaker 2: Let people come to me and then I know they're
• 1:15:11
  Speaker 2: ready to absorb the message.
• 1:15:13
  Speaker 6: Thirty six properties out of state.
• 1:15:16
  Speaker 7: It's always been a thing, but originally it was because
• 1:15:19
  Speaker 7: just the pricing of being in New York. Yes, but
• 1:15:21
  Speaker 7: we're looking at bigger deals. Are those bigger deals still
• 1:15:23
  Speaker 7: going to be out of state? Or we're looking like,
• 1:15:25
  Speaker 7: all right, well at a point where we could probably
• 1:15:27
  Speaker 7: do something major here in New York.
• 1:15:30
  Speaker 2: I would never buy property in New York. I would
• 1:15:33
  Speaker 2: never buy proper in LA. I would never do something
• 1:15:35
  Speaker 2: like that. Like I would buy properties and like now
• 1:15:38
  Speaker 2: I'm doing looking to do syndication deals for one hundred unit,
• 1:15:41
  Speaker 2: two hundred units, three four five million dollars stuff like that.
• 1:15:43
  Speaker 2: But those are not buying holes. Those are things that
• 1:15:46
  Speaker 2: we're buying for one hundred units that we can add
• 1:15:48
  Speaker 2: value to by doing upgrades, raising a rent, laundry rooms,
• 1:15:53
  Speaker 2: play things like that, and then as the syndication, we
• 1:15:57
  Speaker 2: would sell the deal, sell that property in five years,
• 1:16:00
  Speaker 2: and everybody walks away with their money. But I would
• 1:16:02
  Speaker 2: never do an individual deal with a Brownstone of buying
• 1:16:04
  Speaker 2: something for three to four million dollars or seven million
• 1:16:07
  Speaker 2: dollars because, like I mentioned, a million dollar mortgage, it's
• 1:16:10
  Speaker 2: ten thousand dollars. You would never make that rent back.
• 1:16:12
  Speaker 2: So then there's other plays that you would have to do,
• 1:16:15
  Speaker 2: and those plays are very risky play because you're relying
• 1:16:17
  Speaker 2: on the banking system to state the way it is
• 1:16:20
  Speaker 2: when you're doing these kind of renovations and things of
• 1:16:22
  Speaker 2: that nature. And now I have people that have been
• 1:16:25
  Speaker 2: doing fixing flips and it's not really working out for them,
• 1:16:27
  Speaker 2: where the money's not coming in. Banks are not allowing
• 1:16:30
  Speaker 2: you to get that eighty percent, seventy percent, seventy five
• 1:16:33
  Speaker 2: percent when you flip, and you'd be like, oh, I'm
• 1:16:35
  Speaker 2: gonna pull this much money out. Nah, it's not working
• 1:16:37
  Speaker 2: like that no more. But so my structure of guaranteed
• 1:16:40
  Speaker 2: income that's solid. That's for somebody who's going to work
• 1:16:44
  Speaker 2: every day that goes. I don't have to see a property.
• 1:16:46
  Speaker 2: I don't have to do nothing. I got eight thousand
• 1:16:48
  Speaker 2: dollars storm deal with eight thousand dollars. I got a
• 1:16:50
  Speaker 2: fall one K sitting with one hundred thousand dollars. I
• 1:16:53
  Speaker 2: know I can do it. I have people in my mentorships.
• 1:16:55
  Speaker 2: I have people that are doing it to this day,
• 1:16:58
  Speaker 2: changing their lives. One pre they out of time because
• 1:17:00
  Speaker 2: the goal is to replace your salary.
• 1:17:03
  Speaker 5: So speaking about your mentorship, you when did you get
• 1:17:05
  Speaker 5: into the education space? When did you start actually, you know,
• 1:17:07
  Speaker 5: teaching people what you do.
• 1:17:09
  Speaker 2: I actually started when I first went online, Like the
• 1:17:13
  Speaker 2: goal was to teach people, you know, when George Floyd
• 1:17:17
  Speaker 2: situation happened, I knew real estate was it and I
• 1:17:20
  Speaker 2: wanted to educate people. So I turned through my phone
• 1:17:22
  Speaker 2: Instagram Live and I was most awkward thing in the world.
• 1:17:25
  Speaker 2: I was looking away and I just lens off foggy
• 1:17:28
  Speaker 2: and I said, I want to teach four people how
• 1:17:29
  Speaker 2: to buy real estate out of state. Send me a message.
• 1:17:32
  Speaker 2: I looked at my DM there was like six people.
• 1:17:35
  Speaker 2: So I start teaching them for sitching them six first
• 1:17:38
  Speaker 2: for the whole month, how to invest out of state,
• 1:17:39
  Speaker 2: how to do this, and I start videotaping. I started
• 1:17:42
  Speaker 2: talking about it online, showing a class, and people were excited.
• 1:17:45
  Speaker 2: I started getting more messages, but I said, you know what,
• 1:17:47
  Speaker 2: I'm only going to do four people every month. That
• 1:17:49
  Speaker 2: was like October, November came. I was taught those four people,
• 1:17:53
  Speaker 2: and by December showing you know, all the people who
• 1:17:55
  Speaker 2: are in the class, posting and talking about out of
• 1:17:57
  Speaker 2: state and this and that. It got so look, I
• 1:18:00
  Speaker 2: had ten people, twelve people signing up, but I was
• 1:18:03
  Speaker 2: committed to doing four. And I said. There was one
• 1:18:06
  Speaker 2: young lady who called me New Year's Eve, I never
• 1:18:07
  Speaker 2: forget this, she called. She literally was almost in tears.
• 1:18:10
  Speaker 2: She says, storm, I don't want to come into the
• 1:18:12
  Speaker 2: New Years doing the same thing I'm doing. I know
• 1:18:16
  Speaker 2: what you're teaching could change my life. How can I
• 1:18:18
  Speaker 2: pay to move up? How can I be in this
• 1:18:20
  Speaker 2: next class you're going to teach for the New Years?
• 1:18:22
  Speaker 2: Because she was scheduled for March, she said, I can't wait.
• 1:18:26
  Speaker 2: And I said, yo, you're doing a disservice. That's when
• 1:18:28
  Speaker 2: I reached out to Ash and I said, bro, how
• 1:18:31
  Speaker 2: can I do this thing on a bigger scale? And
• 1:18:33
  Speaker 2: he looked and he said, first thing you gotta do
• 1:18:35
  Speaker 2: is stop teaching live. He said, you got enough material
• 1:18:38
  Speaker 2: to turn into a course. I said, a course. He said, yes,
• 1:18:41
  Speaker 2: all those videos you got, Let's get on a call.
• 1:18:43
  Speaker 2: Let's get on a zoom. He showed me how to
• 1:18:45
  Speaker 2: do it boom. Then I said, oh, I could teach
• 1:18:47
  Speaker 2: more people. I can do the course. I can give that,
• 1:18:51
  Speaker 2: But from the beginning I wanted to give people the
• 1:18:52
  Speaker 2: knowledge to be able to change their life.
• 1:18:54
  Speaker 5: So now you have a mentorship. Yep, we'll talk about them.
• 1:18:57
  Speaker 5: What does that mentorship?
• 1:18:58
  Speaker 2: And clue the mentorship includes you getting all everything I
• 1:19:01
  Speaker 2: talk about. I have three courses, so I give you
• 1:19:03
  Speaker 2: one that's Mastering out of State Investing that gives you
• 1:19:06
  Speaker 2: soup the nuts how to invest out of state. Then
• 1:19:08
  Speaker 2: another one called the three must Have LLCs, where I
• 1:19:11
  Speaker 2: give you the complete breakdown of everything with the LLCs
• 1:19:14
  Speaker 2: simplify form. Then I have one called the Power of
• 1:19:16
  Speaker 2: a Living Trust that talks about my living trust, how
• 1:19:19
  Speaker 2: I structure it. Reading the Rockefeller Trust so you get
• 1:19:22
  Speaker 2: all that information, you get a year's mentorship sitting with
• 1:19:25
  Speaker 2: me and I do weekly calls and also do quarterly calls,
• 1:19:30
  Speaker 2: and I teach my mentor my mentees in the ranks
• 1:19:34
  Speaker 2: to become educators. That's the thing I highlight them. I
• 1:19:38
  Speaker 2: teach them to become educators. Educators teach the class.
• 1:19:41
  Speaker 3: Because I need them to start their own mentorship so
• 1:19:44
  Speaker 3: they can now teach people.
• 1:19:46
  Speaker 5: So very you impressed me, especially with your knowledge on
• 1:19:49
  Speaker 5: the living trust situation. And I used to actually be
• 1:19:51
  Speaker 5: a financial advisor for twelve years.
• 1:19:53
  Speaker 2: Oh, get out of here.
• 1:19:53
  Speaker 5: So yeah, so you know, it's very rare that I
• 1:19:57
  Speaker 5: come across somebody that's like, actually, you know, very impressive
• 1:20:00
  Speaker 5: with that. You delivered it. You delivered it in a
• 1:20:08
  Speaker 5: in a in a high level. So you have a
• 1:20:10
  Speaker 5: you have a very good gift of communication. Oh man,
• 1:20:13
  Speaker 5: thank cause that's important, especially when dealing with complicated issues.
• 1:20:16
  Speaker 5: A lot of times, even if you know something, it's
• 1:20:18
  Speaker 5: kind of hard to communicate it, and that's what stops
• 1:20:21
  Speaker 5: a lot of people from learning because they feel like
• 1:20:23
  Speaker 5: it's too it's too over their heads to advance and
• 1:20:25
  Speaker 5: a person really can't communicate it correctly. So they just like,
• 1:20:28
  Speaker 5: you know, just stay away from it. But I'm a
• 1:20:30
  Speaker 5: big proponent for like online education because I feel like
• 1:20:35
  Speaker 5: that's where college and formal education kind of failed us,
• 1:20:39
  Speaker 5: because it's like you're not learning these type of things
• 1:20:41
  Speaker 5: like the trust and stuff like that, Like you're not
• 1:20:43
  Speaker 5: learning that at any university, even if you study business
• 1:20:46
  Speaker 5: and not teaching you that. So that's the stuff that
• 1:20:48
  Speaker 5: you actually have to learn in the real world. And
• 1:20:49
  Speaker 5: that's what I learned, like just being in the financial
• 1:20:51
  Speaker 5: planning world. These are like retreats and meetings that I
• 1:20:55
  Speaker 5: was going to and they was having conversations about trust,
• 1:20:57
  Speaker 5: or you're on the golf course and you're talking to
• 1:20:59
  Speaker 5: your friend and they're telling you about it, educating you
• 1:21:01
  Speaker 5: on the space. But for the vast majority of people,
• 1:21:05
  Speaker 5: we're not in that circle professionally or personally to have
• 1:21:09
  Speaker 5: those conversations the conversations that we have and it's like, yo,
• 1:21:13
  Speaker 5: we want to go to the club, or even if
• 1:21:15
  Speaker 5: it's a productive conversation, it's a conversation of like, you know,
• 1:21:19
  Speaker 5: how can you fill out your student loan application for
• 1:21:22
  Speaker 5: your child? Like you know, these are the conversations that
• 1:21:24
  Speaker 5: you have in with your peers because usually people conversate
• 1:21:27
  Speaker 5: on their level, So your problems, your issues are the
• 1:21:30
  Speaker 5: same issues as somebody else. The credy thing about it
• 1:21:33
  Speaker 5: is that but like the vast majority, their problems are
• 1:21:37
  Speaker 5: like they don't have enough money, so the problems are
• 1:21:40
  Speaker 5: like how can I get a mortgage? Or how can
• 1:21:43
  Speaker 5: I put my kid through student loan? But some people
• 1:21:45
  Speaker 5: problems is that they have too much money, So their
• 1:21:48
  Speaker 5: problems is like how can I not pay taxes? How
• 1:21:51
  Speaker 5: can I avoid the state tax? How can like that's
• 1:21:53
  Speaker 5: a problem. You know what I'm saying. Good, So you
• 1:21:57
  Speaker 5: end up do yeah, So you end up communicating that,
• 1:22:00
  Speaker 5: you share resources and you share information, but very few
• 1:22:03
  Speaker 5: people actually get that information because they're not in that conversation.
• 1:22:07
  Speaker 5: So now with the online education space, it's opened up.
• 1:22:11
  Speaker 5: It's like a glitch in a matrix where it's opened
• 1:22:14
  Speaker 5: up that what used to be a secret conversation and
• 1:22:17
  Speaker 5: now it's open to the masses. And that's really life
• 1:22:20
  Speaker 5: changing on a variety of different things, as far as
• 1:22:21
  Speaker 5: on the investment side, real estate of course, on the
• 1:22:26
  Speaker 5: trust side and the LLC. That was good information as well,
• 1:22:30
  Speaker 5: because that's something that people don't really dig too deep
• 1:22:32
  Speaker 5: in either that they just talk about setting up an LLC,
• 1:22:35
  Speaker 5: setting up a c corp escort by a cool But
• 1:22:38
  Speaker 5: there's levels, you know what I'm saying, Like there's levels
• 1:22:40
  Speaker 5: to everything. So it's like, all right, you can go
• 1:22:43
  Speaker 5: to high school, but that's not a bachelor degree, and
• 1:22:46
  Speaker 5: if you get a bachelor's degree, that's not a master's degree,
• 1:22:48
  Speaker 5: and a master's degree is not a doctorate degree. So
• 1:22:50
  Speaker 5: you should always try to further your education because that's
• 1:22:53
  Speaker 5: only that's the only thing that's really going to save
• 1:22:55
  Speaker 5: you in this world. Yes, like your education is the
• 1:22:57
  Speaker 5: only thing that can save you, and that's the thing
• 1:22:59
  Speaker 5: that people really learn or on COVID. And this is why,
• 1:23:01
  Speaker 5: like even our platform rely took off because it's like
• 1:23:03
  Speaker 5: now you're in a space where you understand that you
• 1:23:07
  Speaker 5: are not going to just go to work and think
• 1:23:11
  Speaker 5: that that's going to help because you can't even get
• 1:23:12
  Speaker 5: a job. You wasn't even able to go to work.
• 1:23:15
  Speaker 5: The government at a certain point stopped giving money. They
• 1:23:18
  Speaker 5: gave you some stimulus, but then that's stopped, so you
• 1:23:21
  Speaker 5: can't rely on government to save you. And the only
• 1:23:25
  Speaker 5: thing that we really have in this world is our education,
• 1:23:28
  Speaker 5: because that can't be taken away from you exact and
• 1:23:31
  Speaker 5: with your education you could always you can always create
• 1:23:33
  Speaker 5: new opportunities, Like you can give somebody a million dollars
• 1:23:36
  Speaker 5: and they can blow it, and then you can have
• 1:23:39
  Speaker 5: a business and you can make a million dollars and
• 1:23:41
  Speaker 5: you can you can potentially mess up that bag as well.
• 1:23:43
  Speaker 5: The difference is that the person that has the business
• 1:23:45
  Speaker 5: has a system in place to actually get a million dollars.
• 1:23:48
  Speaker 5: So his odds of doing that again is tremendously higher
• 1:23:52
  Speaker 5: than somebody that just got a million dollars because they
• 1:23:54
  Speaker 5: were talented or because they won the lottery, because once
• 1:23:57
  Speaker 5: that talent goes away or once the lottery goes way,
• 1:24:00
  Speaker 5: you don't have systems in place to make that happen again.
• 1:24:03
  Speaker 5: The systems in place, it gives you a tremendously greater
• 1:24:07
  Speaker 5: opportunity to make that million dollars again, even if you
• 1:24:09
  Speaker 5: made mistakes. And that's what you see people that go
• 1:24:13
  Speaker 5: bankrupt and then they get it right back. They fall
• 1:24:16
  Speaker 5: on hard times, they get it right back because they
• 1:24:18
  Speaker 5: have the information and they have the relationships. Those the
• 1:24:20
  Speaker 5: two biggest things. So I applaud for what I applaud
• 1:24:23
  Speaker 5: you for what you're doing. And I encourage anybody that
• 1:24:25
  Speaker 5: wants to further that education to check out your mentorship
• 1:24:28
  Speaker 5: because I think that it's something that is extremely beneficial
• 1:24:31
  Speaker 5: and it's helpful, and like I said, it's kind of
• 1:24:33
  Speaker 5: you know, a way of higher education. And we spend
• 1:24:36
  Speaker 5: one hundred thousand dollars on a liberal arts degree where
• 1:24:39
  Speaker 5: you're just hoping that you could potentially get a job.
• 1:24:41
  Speaker 6: Good luck.
• 1:24:41
  Speaker 5: So it's like that's not in today's in today's day
• 1:24:46
  Speaker 5: and age, that's not really the best way to go
• 1:24:48
  Speaker 5: about it. So you know, what we do with Eyo
• 1:24:50
  Speaker 5: University earn your leasure to the platforms anybody that comes on.
• 1:24:54
  Speaker 5: We always try to, you know, have a special discount
• 1:24:58
  Speaker 5: for what we call our earners, so you know, everybody
• 1:25:01
  Speaker 5: usually obliges, and you were you know, kind enough to
• 1:25:04
  Speaker 5: oblige that, so thank you for that. So what we're
• 1:25:06
  Speaker 5: going to do is two thousand dollars off I believe
• 1:25:09
  Speaker 5: two thousand dollars off the current price. And but it's
• 1:25:13
  Speaker 5: a special website that we are set up for that.
• 1:25:15
  Speaker 5: So it's EYL Employed Millionaire dot com because that's you,
• 1:25:19
  Speaker 5: that's your company employed Millionaire. So we just added the
• 1:25:22
  Speaker 5: E y L in front of that real simple EYL
• 1:25:24
  Speaker 5: employed Millionaire dot com and that's you know, storms mentorship
• 1:25:29
  Speaker 5: And like I said, that particular website there's no code Tonne.
• 1:25:32
  Speaker 5: You just go to that website and you get two
• 1:25:34
  Speaker 5: thousand dollars off if you want to, you know, for
• 1:25:36
  Speaker 5: the information and learn just probably to trust stuff alone.
• 1:25:40
  Speaker 5: It's worth that because like I said, that's extremely valuable thousands. Yeah, yeah,
• 1:25:45
  Speaker 5: that's extremely valuable. But then when you add the real
• 1:25:47
  Speaker 5: estate and the LLC and the weekly calls, you know,
• 1:25:50
  Speaker 5: it's something that if you want to invest in your education,
• 1:25:52
  Speaker 5: I was strong, strongly consider you do that. So once
• 1:25:54
  Speaker 5: again it's e y L Employed Millionaire dot com and
• 1:25:59
  Speaker 5: that is for two thousand dollars off of the mentorship program.
• 1:26:03
  Speaker 5: But before we leave, I want you to just speak
• 1:26:06
  Speaker 5: to people that are currently employed right now trying to
• 1:26:09
  Speaker 5: figure it out. They're working in on the file. They
• 1:26:12
  Speaker 5: know that they want to do more with their life,
• 1:26:14
  Speaker 5: but they just haven't really been able to kind of
• 1:26:17
  Speaker 5: you know, figure that part out yet and they might
• 1:26:19
  Speaker 5: be frustrated. They might not you know, because you was
• 1:26:22
  Speaker 5: once in that position, and Troy, you might even want
• 1:26:25
  Speaker 5: to add to this as well because you was once
• 1:26:26
  Speaker 5: in that position as well. What can you tell the
• 1:26:29
  Speaker 5: people that are in that position right now?
• 1:26:32
  Speaker 7: I'll just add to it because I know, like how
• 1:26:34
  Speaker 7: much passion's about to come out, because we sat in
• 1:26:36
  Speaker 7: these positions, and we sat at the table and we
• 1:26:38
  Speaker 7: had lunch with these people who really didn't understand it
• 1:26:42
  Speaker 7: until you tell them like, this is not this is it?
• 1:26:44
  Speaker 7: Like you're not going to see me if I if
• 1:26:45
  Speaker 7: I get to this point. And so like even when
• 1:26:47
  Speaker 7: you went to work that last day, they're like, no,
• 1:26:49
  Speaker 7: I know you're coming back, or like, hey, you're gonna
• 1:26:51
  Speaker 7: leave your pension on the table, or hey, you know
• 1:26:53
  Speaker 7: we're going to get reimbursed for the years that we
• 1:26:57
  Speaker 7: were in the contract.
• 1:26:58
  Speaker 6: And I'm like, keep all that. We got a bigger vision.
• 1:27:01
  Speaker 7: So I want you to talk to those people like
• 1:27:03
  Speaker 7: if this was your colleague who was advertizing with you,
• 1:27:06
  Speaker 7: or the teachers who were working with me at the time,
• 1:27:08
  Speaker 7: what's the advice that you want.
• 1:27:09
  Speaker 6: To give them?
• 1:27:10
  Speaker 2: Man, The key thing is I'm able to give advice
• 1:27:15
  Speaker 2: for those who are willing to listen. I always say
• 1:27:18
  Speaker 2: investing is a song that when you start singing it,
• 1:27:22
  Speaker 2: even the people that I know don't know the words,
• 1:27:24
  Speaker 2: will start humming along with you, so I can sing
• 1:27:29
  Speaker 2: the praises of what it takes become an investor. Do
• 1:27:33
  Speaker 2: this at the job, do this. But if you know
• 1:27:35
  Speaker 2: you're listening to this right now and you have to
• 1:27:37
  Speaker 2: go to work, key thing is, don't try to sing
• 1:27:40
  Speaker 2: the same song as those people work. You have to
• 1:27:43
  Speaker 2: get yourself in a room of like minded people. Join
• 1:27:46
  Speaker 2: mentorships with people that are like you. Now, you may
• 1:27:49
  Speaker 2: not know the words, but guess what you're gonna hum
• 1:27:51
  Speaker 2: with those people a couple of weeks. You're gonna start
• 1:27:54
  Speaker 2: learning the lyrics. You're gonna start learning the lingo. You're
• 1:27:57
  Speaker 2: gonna start learning how to invest, You're gonna start learning
• 1:28:00
  Speaker 2: changes you. But while you're going to work, you must
• 1:28:03
  Speaker 2: always guard your escape route, guard that plan, guard what
• 1:28:09
  Speaker 2: you're doing, because it's just some people that's not gonna
• 1:28:12
  Speaker 2: get it. The job is not your enemy. You are
• 1:28:15
  Speaker 2: your own enemy. When we sit down with our job,
• 1:28:18
  Speaker 2: and we actually signed on to take that job, the
• 1:28:20
  Speaker 2: job had a plan. The plan was to underpay you
• 1:28:24
  Speaker 2: so you can overperform. But what we sat down we
• 1:28:28
  Speaker 2: sat down and said, great, I'm on board and I'm
• 1:28:31
  Speaker 2: gonna take that.
• 1:28:32
  Speaker 3: Paycheck and only pay bills.
• 1:28:35
  Speaker 2: That was the problem. We needed to say, Okay, I'm
• 1:28:37
  Speaker 2: gonna take that paycheck pay bills, but i'm gonna take
• 1:28:40
  Speaker 2: a portion and i'm gonna leave. If my job would
• 1:28:44
  Speaker 2: have known the plan I had with that money that
• 1:28:47
  Speaker 2: they were giving me, they would have said, don't give
• 1:28:49
  Speaker 2: an overtime, cut his hour short, suspend him, do anything,
• 1:28:54
  Speaker 2: but let him free. But it's the mind psyche, because
• 1:28:58
  Speaker 2: think about this. Even when we're young, we wake up,
• 1:29:02
  Speaker 2: we go to school, certain time, we go to lunch,
• 1:29:07
  Speaker 2: we go back to the classroom, bell goes off, we
• 1:29:10
  Speaker 2: go home, We wake up in the morning.
• 1:29:13
  Speaker 3: I will always call school work for kids.
• 1:29:15
  Speaker 2: It's prepping them. And then when it's over, now you graduate,
• 1:29:19
  Speaker 2: find a job, wake up in the morning, go have lunch,
• 1:29:23
  Speaker 2: the bell rings. See it's a mental prep so it's
• 1:29:26
  Speaker 2: hard to break that. But when you start thinking about
• 1:29:30
  Speaker 2: when you start thinking about your generation and the kids
• 1:29:33
  Speaker 2: that you can't see and what you're leaving from them,
• 1:29:36
  Speaker 2: you really move different than this world.
• 1:29:38
  Speaker 3: I tell you, once I understood that.
• 1:29:41
  Speaker 2: My life needs to expand beyond what I'm doing now
• 1:29:46
  Speaker 2: and leave something for them. And I was moving like
• 1:29:49
  Speaker 2: I ain't having no tomorrow. I was moving like I
• 1:29:52
  Speaker 2: didn't have no tomorrow. It's all my fellas out there
• 1:29:55
  Speaker 2: and all the ladies who get in this information. I
• 1:29:58
  Speaker 2: want you to understand that you must give this information
• 1:30:01
  Speaker 2: to your wife and your children and not hoard it
• 1:30:04
  Speaker 2: for yourself and say I got it all worked out.
• 1:30:06
  Speaker 2: My family straight. Because when you pass away and you
• 1:30:10
  Speaker 2: don't leave them the keys to the safe, they locked out.
• 1:30:14
  Speaker 2: They don't know about trust, they don't know about what
• 1:30:16
  Speaker 2: life insurance policies. They don't know nothing. Because you said
• 1:30:20
  Speaker 2: to yourself, I got them and they straight. You want
• 1:30:23
  Speaker 2: them to be straight. Sit down with the lawyers, give
• 1:30:26
  Speaker 2: them the information, give them all the coast.
• 1:30:28
  Speaker 3: Tell them the plan you had and how to keep
• 1:30:30
  Speaker 3: it going.
• 1:30:32
  Speaker 2: That's my message, bro, I know I get carried away.
• 1:30:34
  Speaker 6: So now it's the audacity of hope. Right.
• 1:30:36
  Speaker 7: So somebody seeing you in this position, now they know
• 1:30:38
  Speaker 7: what you've been through. I always tell like I used
• 1:30:40
  Speaker 7: to sit down with my colleagues and I'm like, what's
• 1:30:42
  Speaker 7: the plan? Everybody complains about being here? What's the plan
• 1:30:44
  Speaker 7: to leave? What's the plan to leave?
• 1:30:46
  Speaker 6: Right?
• 1:30:46
  Speaker 7: And so the year I got tell you was the Arazon. Mmm,
• 1:30:50
  Speaker 7: So like for most people, they're like, wait, we believe
• 1:30:52
  Speaker 7: in you. They're putting their trust in you. They're saying
• 1:30:54
  Speaker 7: that this is something that they're investing you long term.
• 1:30:57
  Speaker 7: And I'm like, that really isn't a guarantee for me.
• 1:30:59
  Speaker 7: I'm My mindset was never again it's big on mindset.
• 1:31:02
  Speaker 6: It was.
• 1:31:03
  Speaker 7: My mindset was never, I'm going to work here twenty
• 1:31:05
  Speaker 7: five years and retire. My mindset was like, what's the
• 1:31:07
  Speaker 7: fastest way for me to not be here anymore? How
• 1:31:09
  Speaker 7: do I replace myself here? How do I duplicate? Because
• 1:31:12
  Speaker 7: it was one thing watching my father work for forty
• 1:31:14
  Speaker 7: two years and not being able to guarantee me an
• 1:31:17
  Speaker 7: interview at his job. So I'd imagine myself working here
• 1:31:20
  Speaker 7: twenty five years and not allowing my kids even have
• 1:31:23
  Speaker 7: an interview or even be thought of in consideration to
• 1:31:27
  Speaker 7: have a position there. And it was like, well, I'm
• 1:31:28
  Speaker 7: working for this place. I'm spending more time here than
• 1:31:30
  Speaker 7: with my children. What am I really leaving them?
• 1:31:33
  Speaker 5: Exactly?
• 1:31:33
  Speaker 6: And so it was the mindset.
• 1:31:34
  Speaker 7: It was like, all right, here's the plan, and so
• 1:31:36
  Speaker 7: exactly when it gave me tenure in my mind, I
• 1:31:38
  Speaker 7: was like, I'm not going to be here much longer,
• 1:31:40
  Speaker 7: you know what I mean. But it's the belief, and
• 1:31:41
  Speaker 7: it's belief too, like you can feel it and the
• 1:31:43
  Speaker 7: passion you speak with. This is a certain level of
• 1:31:44
  Speaker 7: convention that you have and that everybody has to have
• 1:31:47
  Speaker 7: if they want to make that plan. Like you said,
• 1:31:49
  Speaker 7: it's not going to be for everybody, but seeing yourself,
• 1:31:51
  Speaker 7: seeing myself, seeing Richard, and plenty of others just like, oh,
• 1:31:54
  Speaker 7: it can be done. And so that's why we call
• 1:31:56
  Speaker 7: this like the financial evolution, because it is we can't measure.
• 1:32:00
  Speaker 7: We don't know what they're gonna do with the information,
• 1:32:02
  Speaker 7: but hopefully they don't hoard it, they share it and
• 1:32:04
  Speaker 7: they apply it.
• 1:32:05
  Speaker 2: Yep. That man.
• 1:32:06
  Speaker 5: There you have it, ladies and gentlemen, powerful episode. Thank
• 1:32:10
  Speaker 5: you for that. I'm sure a lot of people will
• 1:32:12
  Speaker 5: gain a lot of insight, like I said at the
• 1:32:14
  Speaker 5: beginning of education, but also from a motivation standpoint as well,
• 1:32:18
  Speaker 5: And they're both needed and then both are very very necessary.
• 1:32:21
  Speaker 5: So appreciate that.
• 1:32:22
  Speaker 2: Brother. I appreciate you guys having me and it's been
• 1:32:27
  Speaker 2: for me. It felt like forever, and I always knew
• 1:32:30
  Speaker 2: there was a platform in the stage for me to
• 1:32:33
  Speaker 2: actually speak. And I'm glad that it's here and it's now,
• 1:32:37
  Speaker 2: and the timing was right, you know what I mean.
• 1:32:40
  Speaker 2: I felt like it was thirty years or something inside
• 1:32:42
  Speaker 2: of me to be here to speak to the world
• 1:32:44
  Speaker 2: on this level, and now it happened. I want to
• 1:32:47
  Speaker 2: thank you guys from the bottom of my heart. Allowed
• 1:32:49
  Speaker 2: me to speak to the people.
• 1:32:50
  Speaker 6: I appreciate it.
• 1:32:50
  Speaker 5: How can they follow you? With your social media handle?
• 1:32:53
  Speaker 2: You can go to im storm Leroy on Instagram. You'll
• 1:32:56
  Speaker 2: find me there, avoid them fake ones, employed million there.
• 1:33:00
  Speaker 2: It'll pop up also and you'll find me.
• 1:33:03
  Speaker 5: You have it, Chroy, how can you?
• 1:33:04
  Speaker 7: Yeah, Shout to everybody on patreon dot com. Shout out
• 1:33:06
  Speaker 7: to all of our earners in Eyo University, shout out
• 1:33:09
  Speaker 7: to the merged team, and shout out to to Storm because,
• 1:33:11
  Speaker 7: like I said, you're the first person who I said
• 1:33:13
  Speaker 7: the seat is waiting for you, and now you're here,
• 1:33:16
  Speaker 7: and so there's a bunch of people out there who
• 1:33:18
  Speaker 7: we probably had the same conversation, but it's happened, and
• 1:33:22
  Speaker 7: so like you're gonna be the first of manting.
• 1:33:23
  Speaker 6: So I appreciate you for coming and sharing your wealth
• 1:33:25
  Speaker 6: and knowledge.
• 1:33:26
  Speaker 2: Man, Thank you sir.
• 1:33:27
  Speaker 6: Yeah, nothing happens before it's time, So I'm happy today was.
• 1:33:29
  Speaker 5: A day than you have it. Ladies and gentlemen. Thank
• 1:33:32
  Speaker 5: you guys rocking on this. We'll see you next week. Peace,
• 1:33:35
  Speaker 5: always seek knowledge.
• 1:33:39
  Speaker 6: It's a rap for storm Leroy.
• 1:33:43
  Speaker 4: My graduates from my school being forced back drop drop,
• 1:33:48
  Speaker 4: Mike drop back drop drop.
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