Latest / Earn Your Leisure / EYL #20 Lord of the Slums

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EYL #20 Lord of the Slums · Earn Your Leisure

• 0:00
  Speaker 1: Coach, the energy out there felt different. What changed for
• 0:03
  Speaker 1: the team today?
• 0:03
  Speaker 2: It was the new game day scratches from the California Lottery.
• 0:06
  Speaker 3: Player is everything. Those games sent the team's energy through
• 0:09
  Speaker 3: the roof.
• 0:09
  Speaker 1: Are you saying it was the off field play that
• 0:11
  Speaker 1: made the difference on the field.
• 0:13
  Speaker 3: Hey, little play makes your day, and today it made
• 0:15
  Speaker 3: the game. That's all for now, Coach, one more question.
• 0:18
  Speaker 1: Play the new Los Angeles Chargers, San Francisco forty nine
• 0:21
  Speaker 1: Ers and Los Angeles Rams scratchers from the California Lottery.
• 0:25
  Speaker 1: A little play can make your day. Peace made responsibily.
• 0:28
  Speaker 1: Must be eighteen years or older to purchase late or claim.
• 0:53
  Speaker 3: All right, guys, Welcome back. Welcome Back Episode twenty uy
• 0:59
  Speaker 3: EL twenty twenty weeks in the books. Man, this is monumental.
• 1:03
  Speaker 3: This is a very very special day for us. So
• 1:06
  Speaker 3: first of all, before we start, we got to thank
• 1:08
  Speaker 3: you God for your support. To grow this fast in
• 1:11
  Speaker 3: twenty weeks is crazy.
• 1:13
  Speaker 4: And the growth continues. It's amazing. We ran into some
• 1:16
  Speaker 4: people randomly and telling the stops we make and the
• 1:20
  Speaker 4: love has been amazing. Support has been amazing, The feedback
• 1:23
  Speaker 4: has been great. He would just want to talk to
• 1:25
  Speaker 4: us about the podcast.
• 1:25
  Speaker 3: So thank you. This is we're not going out. You
• 1:28
  Speaker 3: like that. We can't say anything better than that. Yeah,
• 1:30
  Speaker 3: that's a fact. That's a fact. So we goes jump
• 1:33
  Speaker 3: right into we got a very special guest today, so
• 1:36
  Speaker 3: I'll give the delayout. So obviously real estate is very
• 1:39
  Speaker 3: important in building wealth. So this is an educational show
• 1:43
  Speaker 3: on finance, and you can't have education finance without talking
• 1:48
  Speaker 3: about real estate, right, So we have Fernando Fernandez with
• 1:53
  Speaker 3: us today, So I'll tell you who Fernando is. So
• 1:56
  Speaker 3: if anybody's not familiar, DJ and me is heavy in
• 1:58
  Speaker 3: real estate right now. Right, he does towards like all
• 2:00
  Speaker 3: around the country. So the guy that got him involved
• 2:04
  Speaker 3: in really state his name is Caesar, and he's real
• 2:07
  Speaker 3: big in Jersey as far. I think he had like
• 2:09
  Speaker 3: six hundred units that he owns, so he kind of
• 2:13
  Speaker 3: got envy into real estate investing. So now they teamed up.
• 2:16
  Speaker 3: So Caesar's best friend is Fernando, and Fernando is also
• 2:20
  Speaker 3: really big in Jersey. He has two hundred units in Jersey.
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  Speaker 3: So he has two hundred units in Jersey, which roughly
• 2:28
  Speaker 3: estimates to around twenty five million dollars together. But the
• 2:34
  Speaker 3: reason why I liked the story, and I told him
• 2:36
  Speaker 3: that over the phone, is that, you know, a lot
• 2:38
  Speaker 3: of times people see celebrities like he did an MVY
• 2:40
  Speaker 3: and they and there's no disrespect, but they they look
• 2:43
  Speaker 3: at them and they're like, Okay, well you already had
• 2:44
  Speaker 3: a leg up, right, So I can't do that because
• 2:48
  Speaker 3: I didn't start with money, or I look at basketball
• 2:50
  Speaker 3: player or football player. But the reason why I like
• 2:53
  Speaker 3: Fernando is that he started from the bottom, right, So
• 2:58
  Speaker 3: it's like his story is very relatable, and tell the story.
• 3:01
  Speaker 3: It's very relatable, and in a short period of time,
• 3:05
  Speaker 3: in the grand scheme of things, he's been able to
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  Speaker 3: a mass a very very impressive portfolio of real estate
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  Speaker 3: on any level, not like on our community level, on
• 3:17
  Speaker 3: any level, right, two hundred units is impressive on any level, right,
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  Speaker 3: There's not too many people in the world that have
• 3:26
  Speaker 3: that type of portfolio. So to amass that in a
• 3:30
  Speaker 3: period of ten years, twelve years is extremely impressive, especially
• 3:35
  Speaker 3: not coming from you know, wealth, not coming from a
• 3:37
  Speaker 3: background of real estate and really starting it, you know,
• 3:40
  Speaker 3: on the ground level and making mistakes and learning and
• 3:42
  Speaker 3: things that. So yeah, so first and almost thank you,
• 3:46
  Speaker 3: thank you, for joining us, Thank you for thank you
• 3:49
  Speaker 3: for having me.
• 3:51
  Speaker 5: Can you tell you an introduction to the.
• 3:58
  Speaker 3: Definitely Got a Down podcast?
• 4:00
  Speaker 6: Right?
• 4:00
  Speaker 3: Graduate? Right? So all right, so can you tell the
• 4:02
  Speaker 3: people because I heard your story the other day and
• 4:06
  Speaker 3: you know, as far as like being like a fifth
• 4:08
  Speaker 3: year senior in college with like ninety credits and all that.
• 4:11
  Speaker 3: Oh so yeah, how do you Okay? So how do
• 4:14
  Speaker 3: you go from humble beginning getting kicked out of school
• 4:18
  Speaker 3: pretty much because you didn't have enough financial aid I believe,
• 4:21
  Speaker 3: to having two hundred union Like, how did that happen?
• 4:25
  Speaker 3: It was never my intention to have two hundred units.
• 4:27
  Speaker 5: I mean it's remember one day speaking on season, he
• 4:30
  Speaker 5: telling me like, Yo, I'm at this guy he's in Pasig, man,
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  Speaker 5: he has two hundred and fifty units.
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  Speaker 3: I was like, holy, two hundred and fifty units man.
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  Speaker 3: I was like, Yo, that's like quarter of a million
• 4:38
  Speaker 3: dollars a month. It's because like they in run, It's
• 4:39
  Speaker 3: crazy that time is like my mind.
• 4:42
  Speaker 5: I'm thinking, like we're both like, yo, we could imagine
• 4:45
  Speaker 5: we made five thousand dollars a month. You know, take
• 4:47
  Speaker 5: that plus you to have your little career and making
• 4:49
  Speaker 5: like another seventy five put that together, it's like, you.
• 4:51
  Speaker 3: Know, you're making decent money.
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  Speaker 7: So two hundred units wasn't the intention.
• 4:54
  Speaker 3: You know.
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  Speaker 5: My my initial attention was get a four family house,
• 4:59
  Speaker 5: then get the three family house, then get the two
• 5:01
  Speaker 5: family house. With those three right there, that'll pay the
• 5:04
  Speaker 5: mortgage for the one family house. Yeah, so really think
• 5:07
  Speaker 5: about it. Most people spend about fifty percent of their
• 5:09
  Speaker 5: money on their mortgage, so I was like, hey, if
• 5:10
  Speaker 5: I get that covers, that's that's like a big thing.
• 5:13
  Speaker 3: So that was the initial intention.
• 5:15
  Speaker 5: But once I got getting really into the villa state
• 5:18
  Speaker 5: and deep into it, getting to know like other people
• 5:21
  Speaker 5: who weren't investors, like your mind starts changing and like
• 5:24
  Speaker 5: start changing up.
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  Speaker 3: So slowly, you know. I ended up going from one.
• 5:28
  Speaker 5: Property, I got my second property, my third, and started
• 5:31
  Speaker 5: getting multiple properties at the same time.
• 5:33
  Speaker 3: So I mean, that's really impressive. And it names Lord
• 5:37
  Speaker 3: of the Slums, right, it's the ord Landlord of Patterson,
• 5:40
  Speaker 3: So lord of the Slums. Yeah. Two thousand and four, Right,
• 5:42
  Speaker 3: I looked at your vision board and it was.
• 5:45
  Speaker 2: I was like, hey, there's nothing name on the vision board, right,
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  Speaker 2: he hasn't accumulated anything yet.
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  Speaker 3: Two thousand and five, it's the same two thousand.
• 5:51
  Speaker 2: And six all the way up to twenty eleven. That's
• 5:53
  Speaker 2: when you get your first property. So what's the process?
• 5:56
  Speaker 2: During that time, right, we all were like, you know what,
• 5:58
  Speaker 2: this really isn't for me downt yourself, Like what's the process?
• 6:01
  Speaker 3: What's people out?
• 6:02
  Speaker 7: The process was not giving up, you know, and I
• 6:05
  Speaker 7: keep that that vision.
• 6:06
  Speaker 5: Boy, it was like I purposely did that because get
• 6:08
  Speaker 5: a lot of family and friends. You know, they want
• 6:09
  Speaker 5: to come down, sit down with me, and you know,
• 6:11
  Speaker 5: so I could kind of like give them some advice
• 6:13
  Speaker 5: and obviously they know where I'm at right now, so
• 6:16
  Speaker 5: there's always what do I have to do to do
• 6:19
  Speaker 5: what you're doing? So and it's like nobody wants to
• 6:23
  Speaker 5: you know, not that they don't want to put it
• 6:24
  Speaker 5: into work, but it's kind of like they forget the
• 6:26
  Speaker 5: work that was involved.
• 6:27
  Speaker 7: And it's like the patients too, So it's like it's.
• 6:30
  Speaker 5: Almost like, you know, you can't just jump in and
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  Speaker 5: think that right away you're gonna do a complete dumb
• 6:34
  Speaker 5: renovation on the house where you're gonna build a house
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  Speaker 5: on the ground up, like right away with having no experience.
• 6:39
  Speaker 5: So that's basically my way of showing them like, look,
• 6:41
  Speaker 5: you know I you know, I put in the work.
• 6:43
  Speaker 5: I was patient, I never gave up. So it's like,
• 6:45
  Speaker 5: you know, follow that system and you be able to
• 6:47
  Speaker 5: make it so all.
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  Speaker 3: Right, So you have a system in place right where
• 6:51
  Speaker 3: you talked to me, you spoke to me about it
• 6:53
  Speaker 3: over the phone that you ain't see to use. Can
• 6:55
  Speaker 3: you just explain that, like as far as like you
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  Speaker 3: buy a home, then you take the cash from the home,
• 6:59
  Speaker 3: you buy another home, like what's your what's your blueprint?
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  Speaker 5: So yeah, and that's kind of like we're allowing me
• 7:04
  Speaker 5: to like really blow up as far as like in
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  Speaker 5: real estate. So it's basically the system is, you know,
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  Speaker 5: you try to cash out on your property as soon.
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  Speaker 3: As you've done renovating.
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  Speaker 5: So just to like run a quick math, you know,
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  Speaker 5: let's just say the house is worth three hundred thousand,
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  Speaker 5: you pick it up for one hundred. Let's just say
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  Speaker 5: it needs fifty on renovations. So it's like originally when
• 7:25
  Speaker 5: I would go to a harm Mooney lender, I will
• 7:28
  Speaker 5: just tell them, look, I'm buying the house for one
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  Speaker 5: hundred and fifty for renovations, and they'll give me the
• 7:32
  Speaker 5: ninety thousand on the purchase because it's ten percent, and
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  Speaker 5: then they'll give me the fifty thousand for the renovation,
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  Speaker 5: which was cool. Now I was able to renovate the house.
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  Speaker 5: But then eventually I got a little smart. I was like,
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  Speaker 5: wait a minute, these are the hard money lenders. They're
• 7:43
  Speaker 5: willing to give you seventy percent of the value. So
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  Speaker 5: the house is worth three hundred and they're willing to
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  Speaker 5: give me seventy percent. That's two ten, So why am
• 7:50
  Speaker 5: I just pulling out one fifty? Let me just pull
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  Speaker 5: out this two ten right away so that you know.
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  Speaker 3: So now if you're renovated for fifty, but now you're not.
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  Speaker 5: Saying fifty for the same this scenariic, I'm taking one ten.
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  Speaker 5: Now finish up the house with the fifty. You get
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  Speaker 5: that difference. So by the time you're renovating the house,
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  Speaker 5: you're pretty much already cashed out this money.
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  Speaker 3: And then you have the two options worth your house.
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  Speaker 5: You get to flip the house and if it's worth
• 8:14
  Speaker 5: three hundred, you know, you're flipping it for three hundred,
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  Speaker 5: or you could just do a cash out REFI, which
• 8:19
  Speaker 5: will be at seventy five percent, which is down the
• 8:21
  Speaker 5: loan instead of being two ten, it might be let's
• 8:23
  Speaker 5: say two twenty, but you're ready cashed out, so you're
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  Speaker 5: not really cashing out. You're just more like what I
• 8:27
  Speaker 5: call a park in the house. And the most important
• 8:29
  Speaker 5: thing about this property it needs to cash load. I
• 8:31
  Speaker 5: mean cash loow is like the most important thing. So
• 8:34
  Speaker 5: if you follow the cash low, then you know, and
• 8:37
  Speaker 5: then you do the system, you know you're gonna be
• 8:39
  Speaker 5: all right.
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  Speaker 3: So hard money lending, can you talk about that because
• 8:41
  Speaker 3: people might not be familiar with because people know about
• 8:45
  Speaker 3: traditional bank loans, mortgages and stuff like that, right, but
• 8:47
  Speaker 3: people don't understand. I don't think a lot of times
• 8:49
  Speaker 3: that you can get financing for a home outside of
• 8:52
  Speaker 3: a bank.
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  Speaker 2: Right when I heard the word hard money, I'm thinking,
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  Speaker 2: you gotta get this guy with a suit, handslipped bad
• 9:00
  Speaker 2: and he was like, yeah, I can give you some money.
• 9:02
  Speaker 3: Like what is a hard money lender?
• 9:04
  Speaker 5: So harmmoney lender is a private lender and their asset
• 9:08
  Speaker 5: based lender, meaning that they're not really focusing too much
• 9:11
  Speaker 5: on your personal income credit. They're really focusing on what
• 9:16
  Speaker 5: the what property you're buying, what's it worth, how much
• 9:19
  Speaker 5: are you going to need?
• 9:20
  Speaker 3: And you know, those.
• 9:22
  Speaker 5: Numbers make sense, and for them to make sense, different
• 9:24
  Speaker 5: letters have different rules. I have lenders who they're willing
• 9:27
  Speaker 5: to go seventy five percent loans of value.
• 9:29
  Speaker 3: Those lenders that.
• 9:29
  Speaker 5: Are willing to go seventy some you know, they're really cheap.
• 9:32
  Speaker 5: They only want to go let's say fifty five percent.
• 9:34
  Speaker 5: So you know, depends what lender you get. But the
• 9:37
  Speaker 5: most important thing about them is like they're not focusing
• 9:39
  Speaker 5: on your credit.
• 9:41
  Speaker 3: On your credit.
• 9:42
  Speaker 5: You know, you have, you know at one point, but
• 9:44
  Speaker 5: I think like the first hard money loan that I
• 9:46
  Speaker 5: that I took out, my credits goal is like a
• 9:47
  Speaker 5: five to eighty five, which is trash and that property particularly,
• 9:53
  Speaker 5: I had no choice but to go through the hard
• 9:55
  Speaker 5: money lender because I was trying to go through like
• 9:57
  Speaker 5: a regular conventional bank and they already had loan on
• 9:59
  Speaker 5: a couple of properties. But I ended up getting a
• 10:03
  Speaker 5: state taxling on my credit and that kind of destroyed
• 10:06
  Speaker 5: my credits for so I was able to reverse it.
• 10:09
  Speaker 7: But to reverse it was gonna take a few months,
• 10:10
  Speaker 7: and they were like they weren't gonna wait.
• 10:11
  Speaker 5: A few months, and I couldn't wait a few months.
• 10:14
  Speaker 5: I needed to do the right away. So that's when
• 10:16
  Speaker 5: I was introduced to a harmoney lender. And you know,
• 10:18
  Speaker 5: they made it happen.
• 10:18
  Speaker 2: So in that process, right, because I'm assuming like hard
• 10:21
  Speaker 2: money letters, not many of them look like us. No,
• 10:24
  Speaker 2: whether it's on like discriminatory setbacks or anything like that,
• 10:29
  Speaker 2: you know what coming from the inner city.
• 10:31
  Speaker 5: Yeah, you know, I've learned in this business that sometimes
• 10:35
  Speaker 5: we tend to be racist ourselves. It's kind of like,
• 10:38
  Speaker 5: you know, you grow up in the city and it's
• 10:40
  Speaker 5: like everyone around you is like a minority, and like
• 10:42
  Speaker 5: like when you see someone who's not a minority, they're
• 10:45
  Speaker 5: like either a police officer or like you see my TV,
• 10:48
  Speaker 5: like the politicians and it, and then you hear all
• 10:50
  Speaker 5: these things, like you know, situations, especially in the inner
• 10:53
  Speaker 5: city dinner with cops. It was like you put in
• 10:55
  Speaker 5: your head like, oh man, everybody's you know, the racist,
• 10:56
  Speaker 5: the racist know they're gonna be racist, and you kind
• 10:59
  Speaker 5: of men already defeated basically thinking that they're going to
• 11:01
  Speaker 5: be racist against.
• 11:02
  Speaker 3: You man, and you know it's not the case. You know.
• 11:04
  Speaker 5: It's like most of the people that I would say
• 11:07
  Speaker 5: that financially have helped me out through loans have been
• 11:10
  Speaker 5: white people.
• 11:10
  Speaker 3: So you know, the whole.
• 11:11
  Speaker 5: Concept of like you know it's gonna be all racist,
• 11:13
  Speaker 5: you know, it doesn't work. I will say this though,
• 11:15
  Speaker 5: especially started off in the cities. You know, they're pretty dope.
• 11:20
  Speaker 5: Now everybody wants invest in them, but you go back,
• 11:22
  Speaker 5: there were the first ones to take the head.
• 11:25
  Speaker 3: And you know, going to a bank, nobody wanted a loan.
• 11:28
  Speaker 5: And in the cities, it's like when I first tried
• 11:29
  Speaker 5: to do cashot refis, lenders would say, oh, yeah, we're
• 11:32
  Speaker 5: willing to go seventy percent. And once you submitted the
• 11:36
  Speaker 5: application and then throwing the zip code, they'll come back
• 11:38
  Speaker 5: and said, I know.
• 11:39
  Speaker 3: What, We're going to give you sixty. It's like wildly sixty.
• 11:41
  Speaker 3: It's like, oh, because you know, where you're located.
• 11:43
  Speaker 5: Is a literally high crime area, so it's it's a
• 11:46
  Speaker 5: higher risk bru so they chop it down.
• 11:47
  Speaker 3: So if anybody's not familiar with Jersey, you're from Pattison,
• 11:50
  Speaker 3: Jersey party practice, So Pattison, Newark, East r and South Orange,
• 11:57
  Speaker 3: Jersey City, any other place not forget that's north southern Jersey.
• 12:01
  Speaker 3: I mean, but like northern North Jersey.
• 12:03
  Speaker 7: Day you got your Jersey City, you have Elizabeth.
• 12:05
  Speaker 3: If you have Nork, you have Pattison, you have for sake,
• 12:09
  Speaker 3: you know, it's a whole bunch, and you have other
• 12:11
  Speaker 3: the like you know, snow towns all right. So but
• 12:14
  Speaker 3: Jersey it's like all places right where you have the
• 12:17
  Speaker 3: hals and half nots, right, So it's very wealthy neighborhoods
• 12:20
  Speaker 3: and it's very poor neighborhoods, right so, but like all
• 12:25
  Speaker 3: places in America are poor, neighborhoods in Jersey are changing now,
• 12:28
  Speaker 3: right So Jersey City, we was just in Jersey City
• 12:31
  Speaker 3: that that that's not even like, yeah, that's completely different
• 12:35
  Speaker 3: right now. You see the Skyline College. Yeah, Jersey City
• 12:38
  Speaker 3: is completely different. They're doing a lot of development in
• 12:41
  Speaker 3: Newark right now. Definitely. Yeah, Pattison, where you're from, Gentrification
• 12:46
  Speaker 3: is coming, it's called yeah, yeah definitely.
• 12:48
  Speaker 5: So as then, you know, it hasn't hit like two
• 12:51
  Speaker 5: year extended with Jersey City and North And we would
• 12:53
  Speaker 5: say the reason for that is because of Jersey City
• 12:56
  Speaker 5: and North they have some really good public transportation like
• 12:58
  Speaker 5: trains that go in to the city, so that allows
• 13:01
  Speaker 5: for that to happen a lot quicker for us. We
• 13:03
  Speaker 5: have buses, but we don't have like any trains that
• 13:06
  Speaker 5: are mass transit like that.
• 13:07
  Speaker 3: We have one that goes into North but very few
• 13:09
  Speaker 3: people use it.
• 13:10
  Speaker 5: It doesn't have like that appeal where you know, someone
• 13:12
  Speaker 5: could just go and grab the training.
• 13:14
  Speaker 3: Yeah, so what are the appeals, disadvantages, advantages because we
• 13:18
  Speaker 3: hit it a lot right where it's trinity was like
• 13:20
  Speaker 3: by a block by back to block right, So you
• 13:22
  Speaker 3: actually have done that. You guys are actually doing that
• 13:25
  Speaker 3: in real life. So because I mean you couldn't at
• 13:29
  Speaker 3: this point, you can invest anyway. You can invest in
• 13:30
  Speaker 3: the suburbs, you can like, so for you personally, why
• 13:34
  Speaker 3: is it beneficial to invest in the city and what
• 13:38
  Speaker 3: are some advantages and disadvantages in inner city?
• 13:40
  Speaker 5: Well, for one, when I got into real estate, I
• 13:42
  Speaker 5: wanted to get into rentals. So you're not going to
• 13:44
  Speaker 5: go into the suburbs to the rentals because it's like the.
• 13:46
  Speaker 3: Money's not there.
• 13:48
  Speaker 5: And I've read a lot of books and before I
• 13:51
  Speaker 5: even got into the real estate, and one key thing
• 13:54
  Speaker 5: that I always read it is like all those other
• 13:56
  Speaker 5: like investors with world books, what we're saying, which I
• 13:58
  Speaker 5: agree with it too, is like know, go into like
• 14:01
  Speaker 5: the tough neighborhoods, but the good parts of the tough
• 14:03
  Speaker 5: neighborhoods and then you know you're gonna do it.
• 14:05
  Speaker 3: Right.
• 14:05
  Speaker 5: So, but yeah, the suburbs, you're not gonna you know,
• 14:08
  Speaker 5: you're not gonna be really you're not gonna make money.
• 14:09
  Speaker 5: Where you're gonna make the money when you deal with
• 14:11
  Speaker 5: rentals is gonna be where the rentals are at.
• 14:12
  Speaker 3: Which, for the most part, is gonna be in the city. Yeah.
• 14:15
  Speaker 2: And that that goes along with like zoning issues, right,
• 14:17
  Speaker 2: I would assume like in the suburbs, people's homes are
• 14:20
  Speaker 2: zone for two family, three family a lot of.
• 14:22
  Speaker 5: Times, you know the design that where they design one families,
• 14:25
  Speaker 5: you know, and they'll have their few multi family complexes,
• 14:30
  Speaker 5: but you know you're talking about million dollar properties. Then
• 14:33
  Speaker 5: you start off it's just not realistic, right, Okay, okay,
• 14:37
  Speaker 5: all right, So one o the questions that I wanted
• 14:39
  Speaker 5: to ask you, So, Okay, can you just break down
• 14:42
  Speaker 5: your first deal?
• 14:42
  Speaker 3: Because I think that's the hardest part that people. It's
• 14:46
  Speaker 3: like all things in life, right, the hardest thing to
• 14:49
  Speaker 3: do is to start. Once you start, then you kind
• 14:51
  Speaker 3: of but like, can you just explain your first deal,
• 14:53
  Speaker 3: your first investment deal?
• 14:55
  Speaker 5: Yeah, so you know, going back to that chart where
• 14:56
  Speaker 5: you know roll down to is like in my mind.
• 15:00
  Speaker 5: In two thousand and four, that's when I said, okay,
• 15:01
  Speaker 5: I got to get into real estate. So went into
• 15:03
  Speaker 5: real estate. But as soon as they were my credit
• 15:05
  Speaker 5: credit was kind of like shot, so I had to
• 15:06
  Speaker 5: start working on fixing that credit. By the time I
• 15:09
  Speaker 5: finished fixing the credit was like two thousand and five
• 15:12
  Speaker 5: two thousand and six. Started working with a real estate agent,
• 15:15
  Speaker 5: and that's when they said, I wanted to get that
• 15:16
  Speaker 5: three families, I could live for three and one that didn't.
• 15:21
  Speaker 5: That didn't really work.
• 15:22
  Speaker 3: Out too well. She couldn't find me anything.
• 15:24
  Speaker 5: So I ended up getting my license, got my license,
• 15:26
  Speaker 5: but O seven, I ended up getting fired from my job.
• 15:30
  Speaker 3: So now you know, couldn't get into like basically real
• 15:32
  Speaker 3: estate investing.
• 15:33
  Speaker 5: So took that as an opportunity to just have my license,
• 15:36
  Speaker 5: let me just do with real estate and let me
• 15:39
  Speaker 5: learn the business as a roulter.
• 15:41
  Speaker 3: So let's just fast forward.
• 15:42
  Speaker 5: When I ended up getting my first property, which was
• 15:44
  Speaker 5: twenty and eleven, that was a short shot. I put
• 15:46
  Speaker 5: the offer like in twenty ten, All right, now this deal.
• 15:50
  Speaker 5: When I put in the offer, I put an offer
• 15:52
  Speaker 5: of one fifty.
• 15:53
  Speaker 3: I qualified, it was good to go. The bank approved
• 15:57
  Speaker 3: that for two twenty eight.
• 15:58
  Speaker 5: It's not much of a difference on the mortgage, but
• 16:00
  Speaker 5: it's like when you're like really right on the borderline,
• 16:03
  Speaker 5: that made a word of you.
• 16:04
  Speaker 3: Know, that made a huge difference. I couldn't couldn't get
• 16:07
  Speaker 3: the loan. I mean I went to like eight different
• 16:08
  Speaker 3: banks to get like a loan.
• 16:09
  Speaker 5: Everybody said, now, so, which is a thing that I
• 16:13
  Speaker 5: tell people now all the time, Like listening when someone
• 16:15
  Speaker 5: tells you no, that just means it's not a yes
• 16:18
  Speaker 5: right now. But find out what do you have to
• 16:20
  Speaker 5: do to make that a yes. You know that yes
• 16:22
  Speaker 5: could happen in a couple of days, a coold happened
• 16:24
  Speaker 5: a couple of years, but like, definitely find out what
• 16:27
  Speaker 5: you need.
• 16:27
  Speaker 3: To do so you could you get it corrected.
• 16:31
  Speaker 7: Did that when you know, went back to like one of.
• 16:33
  Speaker 5: The guys that you know, it kind of broke down
• 16:34
  Speaker 5: to me why I didn't qualify. It's like I had
• 16:36
  Speaker 5: an auto loan, I had a lot of credit cards
• 16:39
  Speaker 5: mixed up, and I also had a huge IRS. So
• 16:42
  Speaker 5: it's kind of like I had a kind of maneuver
• 16:45
  Speaker 5: all the money make a payment plan with the irs
• 16:47
  Speaker 5: instead of paying them in full, pay down some credit cards,
• 16:49
  Speaker 5: pay off.
• 16:49
  Speaker 3: A car, and did all that.
• 16:51
  Speaker 5: And I had like basically like the money and and
• 16:53
  Speaker 5: the means to get the first property. It was the
• 16:56
  Speaker 5: game changer for me, the first one, because it was
• 16:57
  Speaker 5: a four family house and it was all events through
• 17:00
  Speaker 5: section eight. Now it's crazy about that that I went.
• 17:04
  Speaker 5: You know, I tell you friends, family members about it,
• 17:06
  Speaker 5: and everyone was to basically tell me like, ah, don't
• 17:08
  Speaker 5: do that four family house.
• 17:10
  Speaker 3: And you know that's Crazy're gonna be dealing with tennis.
• 17:11
  Speaker 3: Is gonna be a headache.
• 17:12
  Speaker 5: You know, get the two family with attic in the basement,
• 17:15
  Speaker 5: which in my mind, I'm like, well, that's a four family.
• 17:18
  Speaker 5: But then all that though, is that it was say
• 17:20
  Speaker 5: in Jersey three family. Once you have a three family,
• 17:24
  Speaker 5: you have to deal with the state and they come
• 17:26
  Speaker 5: and inspect their property every five years. And you know,
• 17:29
  Speaker 5: most people don't like dealing with that. So with the
• 17:30
  Speaker 5: two family, you get no inspections. And now you have
• 17:32
  Speaker 5: the addict, you have the basement. It's fair game in Patterson.
• 17:35
  Speaker 5: Addicts and basements you know, for for you know, for
• 17:37
  Speaker 5: some people, you know, for those who are winning too
• 17:40
  Speaker 5: to take the rest. But for me, it was a
• 17:43
  Speaker 5: game changer because it was like a four family house,
• 17:46
  Speaker 5: two apartments, paid the mortgage deal the two apartments with
• 17:48
  Speaker 5: basically for myself. So now that's basically about three thousand
• 17:52
  Speaker 5: dollars per month that I was making on that property.
• 17:55
  Speaker 5: That's about what I was making for my job. I
• 17:57
  Speaker 5: was working as a rota. So now it's kind of like,
• 18:00
  Speaker 5: wait a minute. You know, if I was happy with
• 18:01
  Speaker 5: three thousand miles, I'm pretty much say, you know, let's
• 18:03
  Speaker 5: forget this. I'm done every time I stay.
• 18:05
  Speaker 3: Home child, but you know that willpen up my mind.
• 18:07
  Speaker 3: I just got to rest. I'm like, wait a minute,
• 18:09
  Speaker 3: now I need to get another one. So now what
• 18:11
  Speaker 3: do I have to get, you know, to get the
• 18:12
  Speaker 3: other one?
• 18:12
  Speaker 5: And and you know, studed like strategizing and figuring out ways.
• 18:16
  Speaker 3: It was.
• 18:17
  Speaker 5: The time was also perfect too, because it was like,
• 18:19
  Speaker 5: you know, during that time, nobody wanted to jump into
• 18:22
  Speaker 5: real estate. I mean, I will go to barbecues and
• 18:24
  Speaker 5: I will try to convince people to buy, and then
• 18:25
  Speaker 5: that you get, like to get an investment property. Everybody
• 18:29
  Speaker 5: thought was just after a commission, like now know you
• 18:31
  Speaker 5: just you just want to sell the house, and it's like.
• 18:32
  Speaker 3: Nah, man, like you know this. You're gonna make good
• 18:35
  Speaker 3: income off though for this house. So so okay. So
• 18:38
  Speaker 3: you brought your first investment property in twenty eleven two
• 18:41
  Speaker 3: thousand and even took the equity out of that, and
• 18:43
  Speaker 3: then for another one and then kind of just parlated
• 18:46
  Speaker 3: from there. None actually and the didn't they didn't take
• 18:48
  Speaker 3: out the equity on that one. It's like that still
• 18:50
  Speaker 3: was in my mind. I still didn't know about like.
• 18:52
  Speaker 5: Hashot refives or anything like that. It's got the first one.
• 18:56
  Speaker 5: The game plan was you just save up money. Now
• 18:58
  Speaker 5: I'm making three thousand per months, though if I touch
• 19:00
  Speaker 5: those three thousand in a year, that's close to forty
• 19:03
  Speaker 5: thousand dollars I was gonna have.
• 19:04
  Speaker 3: So it was just kind of like saving up.
• 19:07
  Speaker 5: And then like a year later, what happened was there
• 19:10
  Speaker 5: was a property that I had put in an offer
• 19:13
  Speaker 5: for a client of mine, and we put in an offer.
• 19:16
  Speaker 3: On a fourth family for one to fifty.
• 19:18
  Speaker 5: He was on by straight cash months passed by. Hits
• 19:21
  Speaker 5: me back up, like you know, because it was a
• 19:22
  Speaker 5: short sell. He got desperate, he couldn't wait send to
• 19:25
  Speaker 5: you know, find him something else found him a six
• 19:27
  Speaker 5: family for two hundred. A couple of months passed by,
• 19:30
  Speaker 5: the built her that was suddenly the house. She called
• 19:32
  Speaker 5: me up, tells her height list and we finally got
• 19:34
  Speaker 5: the approvals. Your clients so interested, and I was like, yeah, yeah, definitely.
• 19:38
  Speaker 5: He wasn't make that commission. Started to someone else, right,
• 19:42
  Speaker 5: So he's like noo, it's you know, it's kind of
• 19:43
  Speaker 5: it's kind of weird, but it's like, you know, the
• 19:45
  Speaker 5: bank the house on your pace for seventy five. So
• 19:48
  Speaker 5: I was like, oh, what does that make? So like
• 19:50
  Speaker 5: seventy five is basically that's what your client is gonna
• 19:52
  Speaker 5: have to pay. So I was like, okay, great, he
• 19:54
  Speaker 5: let me give him the good news, went back, got
• 19:57
  Speaker 5: on the computer, opened them an LLC, and you know,
• 20:01
  Speaker 5: started making phone calls. You know, I had no money,
• 20:03
  Speaker 5: so it's saving those you know, those three thousand dollars
• 20:07
  Speaker 5: per month. It's like the house neat, the house that
• 20:09
  Speaker 5: I bought needed some work, so I spent some money
• 20:10
  Speaker 5: on that, and I wasn't managing like the money right,
• 20:15
  Speaker 5: so I started making full calls, borring, you know, I
• 20:16
  Speaker 5: ended up borrowing some money, had some money saved up
• 20:18
  Speaker 5: use that to kind of renovate the house, and and
• 20:21
  Speaker 5: that's how I ended up getting my second profit, end
• 20:23
  Speaker 5: up getting this four family for seventy five thousand. And
• 20:27
  Speaker 5: that's the first one where I sort of got like
• 20:29
  Speaker 5: a cashot refine it because like eight months later I
• 20:32
  Speaker 5: was able to go to a bank and they gave
• 20:34
  Speaker 5: me one hundred thousand all alone on that one.
• 20:36
  Speaker 3: So I was able to get back my money on that.
• 20:38
  Speaker 2: So you your company, you said, your father LLC. So
• 20:42
  Speaker 2: your company became your client, you became your client.
• 20:44
  Speaker 5: Yeah, yeah, basically sense right, yeah, in the sense it's
• 20:47
  Speaker 5: like the bank didn't care who who purchased that house,
• 20:49
  Speaker 5: you know, they just wanted to seventy five So.
• 20:51
  Speaker 3: What are some of the benefits of putting a house
• 20:53
  Speaker 3: or property in an LLC?
• 20:55
  Speaker 5: At that time, the benefit was it was a requirement
• 21:00
  Speaker 5: because it was a business deals Like though you know
• 21:02
  Speaker 5: it's all to for one thing, I wanted to make sure,
• 21:06
  Speaker 5: you know, doing research and stuff, and you know, it's
• 21:09
  Speaker 5: like getting multiple multiple properties. I had to stay in
• 21:11
  Speaker 5: my head that I read like, oh, you get a
• 21:13
  Speaker 5: different LLC for every property, that's going to limit your liabilities.
• 21:15
  Speaker 3: So I kind of went that out but now, you know,
• 21:19
  Speaker 3: just keep a.
• 21:20
  Speaker 5: Couple of llocs for my probably's home. You know, there
• 21:22
  Speaker 5: was a time when I was actually opening up an
• 21:24
  Speaker 5: LLC for each property. But then after a while, like
• 21:26
  Speaker 5: you know, it kind of is like I had you
• 21:28
  Speaker 5: gotta follow these I was like, just keep getting insurance
• 21:32
  Speaker 5: on your house, all right.
• 21:33
  Speaker 3: All right, So now you got the backstories, and now
• 21:35
  Speaker 3: we're going to go into the blueprint of how you
• 21:38
  Speaker 3: actually do your day to day operations. I'm gonna get
• 21:40
  Speaker 3: it gone, all right, So we're going to go into
• 21:44
  Speaker 3: the nitty gritty. But before we start, you have to
• 21:47
  Speaker 3: acknowledge this because we don't want this to go with
• 21:49
  Speaker 3: people said, So, okay, twenty twelve, which was seven years ago, right,
• 21:54
  Speaker 3: so you borrowed thirty thousand, yes, right to do your
• 22:00
  Speaker 3: second investment property, and then from there you kind of
• 22:06
  Speaker 3: just learned the ropes and you're at where you're in now.
• 22:08
  Speaker 3: So in the words of Kendrick Gloeola, he took thirty
• 22:14
  Speaker 3: thousand and you freaked it to twenty five million seven years.
• 22:20
  Speaker 8: So yeah, it's I'll say twenty sixteen though, that's that's
• 22:23
  Speaker 8: kind of like what the magic happened though, Okay, it's
• 22:27
  Speaker 8: kind of like that's when like I was consistently able
• 22:30
  Speaker 8: to purchase a property, fix it up, rents it out,
• 22:34
  Speaker 8: and then once it's already rents it go to Alenda
• 22:36
  Speaker 8: to catch it out.
• 22:37
  Speaker 3: All right? So can we all right? Son? We so
• 22:39
  Speaker 3: can we get right to look at the chart? Though?
• 22:41
  Speaker 5: You notice how it's kind of like I was like, oh,
• 22:43
  Speaker 5: it's like you know, get a three, it's like one one, yeah,
• 22:46
  Speaker 5: but it's like twenty sixteen. That's kind of like when
• 22:48
  Speaker 5: it really like made that So match twenty fifteen, twenty fifteen,
• 22:52
  Speaker 5: So can we do that's when I, you know, the
• 22:54
  Speaker 5: first cashown.
• 22:54
  Speaker 3: Can we go to twenty fifteen? When when you start
• 22:56
  Speaker 3: to really take off? And kind of just because that's
• 22:59
  Speaker 3: like your blue right as far as yeah, can you
• 23:02
  Speaker 3: just break that down as far as the flips, how
• 23:03
  Speaker 3: you look at it? All right? Can you just tell
• 23:06
  Speaker 3: exactly like what you do?
• 23:08
  Speaker 5: So what I do is like when I look at
• 23:10
  Speaker 5: a house, it is like try not to look at
• 23:12
  Speaker 5: a house.
• 23:12
  Speaker 3: I try to look at numbers. So it's in the.
• 23:15
  Speaker 5: Formula is basically if I keep try like of my
• 23:19
  Speaker 5: portfolio and I ask myself like, all right, is this
• 23:21
  Speaker 5: going to increase my network.
• 23:23
  Speaker 7: And then the other question is is this going to
• 23:25
  Speaker 7: increase my cash flow?
• 23:27
  Speaker 9: And if the answer is yes, and it's kind of
• 23:28
  Speaker 9: like all right, is the thumbs up, you know, and
• 23:30
  Speaker 9: I could get this.
• 23:30
  Speaker 5: But now there's the other question, now is like how
• 23:33
  Speaker 5: fast and can I get my money back on this deal?
• 23:36
  Speaker 5: And then there's like if all three are yes, then
• 23:39
  Speaker 5: that's when I jump on the deal.
• 23:40
  Speaker 3: Okay, yeah, this is a deal for me.
• 23:41
  Speaker 5: So it's like every property that I see, I see
• 23:44
  Speaker 5: with that intention is like I think, like the most
• 23:47
  Speaker 5: important thing you need to know is how much can
• 23:49
  Speaker 5: a house a praise for?
• 23:51
  Speaker 7: And then it's like the key component here is a.
• 23:53
  Speaker 5: Praise for which took me a while to understand because
• 23:56
  Speaker 5: before I would look at a house and I was
• 23:57
  Speaker 5: just like such an honest guy, and I would look
• 23:59
  Speaker 5: at it, I tell myself, like, you know what that
• 24:01
  Speaker 5: ask I can sell that for two fifty, so it's
• 24:03
  Speaker 5: worth two fifty. But going back down to like the
• 24:06
  Speaker 5: inner city, and it's kind of like why I stuck
• 24:09
  Speaker 5: to Patterson because I felt like I knew Pattison like
• 24:11
  Speaker 5: the palm of my hand, and not sure if it's
• 24:14
  Speaker 5: like if it's you know, if it's the same for
• 24:17
  Speaker 5: every inner city.
• 24:17
  Speaker 7: But let's say Patterson, you get you get a block.
• 24:20
  Speaker 3: This corner right here is.
• 24:22
  Speaker 5: Like where all the hustlers are at, and it's a
• 24:25
  Speaker 5: lot of crime basically, right.
• 24:27
  Speaker 3: But this corner right here, which is the same block,
• 24:29
  Speaker 3: super quiet. It's cool. You could you know, you could
• 24:31
  Speaker 3: walk by.
• 24:31
  Speaker 5: Nobody's gonna, you know, try to hustle you for you know,
• 24:33
  Speaker 5: to buy any any drugs or anything like that.
• 24:35
  Speaker 3: Yeah, but now they're on the same exact block.
• 24:38
  Speaker 5: So now you picture somebody coming from out of town,
• 24:40
  Speaker 5: like an appraisal or anyone, and now they see this
• 24:43
  Speaker 5: property over here. But now when they look at comparables,
• 24:46
  Speaker 5: they're looking at the whole neighborhood and gonok for the
• 24:48
  Speaker 5: median area. So it's like if this property record, you
• 24:51
  Speaker 5: know right here, basically let's say this one is cells
• 24:57
  Speaker 5: for two hundred, but you know, let's say this one
• 24:58
  Speaker 5: sells for.
• 25:00
  Speaker 3: For two fifty.
• 25:01
  Speaker 5: Let's just say, right, but now if you're buying this
• 25:04
  Speaker 5: one and you're buying it through a short so it's
• 25:06
  Speaker 5: going to be a foreclosure, more than likely they're going
• 25:09
  Speaker 5: to use this one here as a comparable. So now
• 25:11
  Speaker 5: this brings down the value of this but this one
• 25:13
  Speaker 5: is worth more, and you know it's worth more because
• 25:15
  Speaker 5: you know the area better. So and then going back
• 25:18
  Speaker 5: to the other thing about knowing about you know, appraisal
• 25:20
  Speaker 5: one values, it's you know, that's kind of where it's
• 25:24
  Speaker 5: at because it's like you know that this one's gonna
• 25:26
  Speaker 5: suffer less and this one's going to sell for more.
• 25:28
  Speaker 5: But when you put those two on paper, depending which
• 25:31
  Speaker 5: way it goes, remember as I told you, earligo is like
• 25:34
  Speaker 5: appraisal is not a science, is an art. So depending
• 25:37
  Speaker 5: on the artists, depending which way they want to go,
• 25:39
  Speaker 5: that value could come in at two hundred, can come in.
• 25:40
  Speaker 3: At two fifty.
• 25:41
  Speaker 5: So I try to look for the house it's worth
• 25:43
  Speaker 5: two fifty that I know the value is going to
• 25:44
  Speaker 5: come in at two hundred. It's it's kind of like
• 25:46
  Speaker 5: now off the bed. As soon as I buy the property,
• 25:48
  Speaker 5: already know I have fifty thousand inequity the other part
• 25:51
  Speaker 5: of it too, which is why I always try to
• 25:53
  Speaker 5: look for properties that need renovation because most people do
• 25:56
  Speaker 5: not want to deal with renovations. Most people want to
• 25:59
  Speaker 5: just grabt the key, go inside of the house, and
• 26:00
  Speaker 5: they're good to go. So when you get a property
• 26:03
  Speaker 5: and you're renovating, you adding value to it. So now
• 26:07
  Speaker 5: let's just say the scenario, right, you ended up picking
• 26:09
  Speaker 5: this house for two hundred, but you know it's ready
• 26:12
  Speaker 5: off the bat, it's a ready worth two fifty. But
• 26:14
  Speaker 5: now you let's say you throw twenty five into it.
• 26:17
  Speaker 5: Now it's not two seventy five. Now it's three hundred.
• 26:19
  Speaker 5: So you got it more more value to it.
• 26:21
  Speaker 2: So when you're doing that right, when you're about to rentedy, right,
• 26:24
  Speaker 2: I'm assuming on your first property, you.
• 26:26
  Speaker 3: Didn't have a team or did you going into it right?
• 26:29
  Speaker 2: So what was the process of selecting a team of contractors,
• 26:34
  Speaker 2: like honest people.
• 26:35
  Speaker 3: Out of right so that you don't get ripped off?
• 26:37
  Speaker 3: Or was it like you know what, I'm gonna learn
• 26:39
  Speaker 3: the craft and do it myself, or what was the
• 26:42
  Speaker 3: process in creating.
• 26:43
  Speaker 5: That well first properties, let's just say the second property
• 26:47
  Speaker 5: that I purchased, right, that one, I did not do
• 26:49
  Speaker 5: a govern renovation. I just went in threw a couple,
• 26:51
  Speaker 5: you know, some liming the floorings, painting the walls, patched
• 26:53
  Speaker 5: up a few os. I think I did like one bathroom.
• 26:56
  Speaker 5: Had I purchased the house today, that probably would have
• 26:59
  Speaker 5: been a complete guy renovation. So you have to do,
• 27:02
  Speaker 5: you know, where you can handle what you know.
• 27:05
  Speaker 7: So when you start off, you know, advice everybody, just start.
• 27:08
  Speaker 3: Off, you know, with light renovations and kind of like
• 27:10
  Speaker 3: work your way up.
• 27:12
  Speaker 5: The way it works is basically, you get yourself, you know,
• 27:14
  Speaker 5: the one handy guy, which once again this is why
• 27:17
  Speaker 5: it works out. And you if you're able to buy
• 27:19
  Speaker 5: in your neighborhood, you can make a few phone calls ady,
• 27:21
  Speaker 5: you know, so they're like, oh, yeah, my cousin has
• 27:23
  Speaker 5: a cousin who is pretty handy.
• 27:25
  Speaker 3: He can help you out. So you start off with
• 27:26
  Speaker 3: the handy guy.
• 27:29
  Speaker 5: But after a while, you know, when you start doing
• 27:31
  Speaker 5: more incense for renovations, you know, they might refer you
• 27:33
  Speaker 5: to someone else. Or it's like, you know, just go
• 27:35
  Speaker 5: to home Depot's like and you study, like home meebles
• 27:37
  Speaker 5: worried by most of my materials. And it's like and
• 27:40
  Speaker 5: if you go in there and you study, when you
• 27:41
  Speaker 5: see somebody walking out and all they have is just
• 27:43
  Speaker 5: electrical materials that you know, this guy very likely is
• 27:46
  Speaker 5: an electrician or at least.
• 27:47
  Speaker 3: Knows how to do electrical work. Same thing with a
• 27:49
  Speaker 3: plumber and so forth. So it's kind of like and
• 27:51
  Speaker 3: you sort of.
• 27:51
  Speaker 5: Build up your team, but it's really a trial to
• 27:53
  Speaker 5: never unless you get some refrols, you're going to get brod.
• 27:56
  Speaker 7: You know, a lot of people ask me a lot
• 27:57
  Speaker 7: of times, is like, have ever lost money in real estate?
• 28:00
  Speaker 5: And the answer is no, just because I've been able
• 28:03
  Speaker 5: to buy properties and have a lot of equity and though,
• 28:06
  Speaker 5: but that doesn't mean that its not lose money on
• 28:08
  Speaker 5: the deal. So it's like if I go in, I
• 28:09
  Speaker 5: get get a property I'm projecting and make let's say
• 28:12
  Speaker 5: fifty thousand, and I get this one contractor and you know,
• 28:14
  Speaker 5: he messes up and I end up losing ten thousand
• 28:16
  Speaker 5: with time.
• 28:17
  Speaker 3: Still make forty thousand. You know, but I didn't really
• 28:20
  Speaker 3: didn't like lose money.
• 28:21
  Speaker 5: But you know you still agree, yea, yeah, it's still
• 28:22
  Speaker 5: agreeing no contractors is trigga with contractors is like it's
• 28:26
  Speaker 5: like that's why I call them contractors, because you're not
• 28:28
  Speaker 5: careful they will kind of So what I do now
• 28:30
  Speaker 5: to minimize the chances of somebody ripping me off is
• 28:35
  Speaker 5: basically I pay for all the materials, which is pretty
• 28:38
  Speaker 5: cool too, because it's like you start getting your mouth.
• 28:42
  Speaker 5: So I pay for the materials. I make what I
• 28:45
  Speaker 5: call a draw schedule, which is the same kind of
• 28:47
  Speaker 5: schedule you have to give your hard money lender. When
• 28:49
  Speaker 5: you get a loan from a lender. You can't just
• 28:51
  Speaker 5: tell the lender, oh, I need fifty thousand for renovation.
• 28:53
  Speaker 5: You got to kind of like map it up, like
• 28:56
  Speaker 5: all right, I'm gonna need two thousand to get the house.
• 28:58
  Speaker 5: I'm gonna be this much for this. You kind of
• 29:00
  Speaker 5: like do every step of of you know what's required,
• 29:05
  Speaker 5: so you map it out. Once this is already mapped out,
• 29:07
  Speaker 5: then you know, you start pulling like the money.
• 29:10
  Speaker 3: Out all right. So okay, so whole verse flips because
• 29:14
  Speaker 3: you hear these two kinds of trains of thoughts in reality, right,
• 29:17
  Speaker 3: some people only want to flip. Some people only believe
• 29:20
  Speaker 3: in buying and holding. Some people do both. You're more
• 29:23
  Speaker 3: on buying holding side, right, Yeah, more buying holding.
• 29:27
  Speaker 5: It's it's it's a little more complicated because it's like
• 29:31
  Speaker 5: when you buy and flip, it's pretty straight straightforward. You
• 29:32
  Speaker 5: buy a house, you renovated, you fix it, and you
• 29:35
  Speaker 5: suddenly make a profit when trying to hold it. You
• 29:38
  Speaker 5: know it goes back to the open of appraisal. Whatever
• 29:39
  Speaker 5: it doesn't you know, it doesn't come through, and the
• 29:41
  Speaker 5: appraisal doesn't come in right, so you know you kind
• 29:44
  Speaker 5: of got to like really, you know, maneuver your way
• 29:47
  Speaker 5: around that. But but it's if you buy outs as again,
• 29:51
  Speaker 5: you follow it like that phone to make sure you
• 29:53
  Speaker 5: follow the cash flow.
• 29:55
  Speaker 3: It's a thing about real estate too, is all numbers.
• 29:57
  Speaker 7: So you kind of have all the numbers in front
• 29:59
  Speaker 7: of you.
• 29:59
  Speaker 3: Bas you already know how much money you're gonna collect
• 30:02
  Speaker 3: the runt. You already know how much you're paying for
• 30:04
  Speaker 3: the property over time.
• 30:06
  Speaker 5: Once you already know this, you already know what you're
• 30:08
  Speaker 5: gonna spend the renovation, so you kind of already know
• 30:10
  Speaker 5: what the mortgage is gonna be, what the rent is
• 30:11
  Speaker 5: going to be.
• 30:11
  Speaker 3: What the profit is going to be.
• 30:13
  Speaker 7: And so when you see it's a really good profit,
• 30:16
  Speaker 7: you keep it and you know you want to let
• 30:17
  Speaker 7: it go.
• 30:18
  Speaker 3: You want to keep it. So how do you learn that,
• 30:19
  Speaker 3: like to say, okay, all right, I understand that you
• 30:22
  Speaker 3: want to buy a home for cheat and fix it up.
• 30:25
  Speaker 3: But the average person they don't have any knowledge of like, okay,
• 30:28
  Speaker 3: how much this is actually going to cost to renovate
• 30:31
  Speaker 3: or how do I know it's a good deal, Like
• 30:34
  Speaker 3: you know what I mean, Like, if you're just going
• 30:35
  Speaker 3: in with no team, just by yourself, how do you
• 30:37
  Speaker 3: It's very likely you're gonna be a first time on buyer.
• 30:40
  Speaker 5: So I'd recommend either go for a three family or
• 30:42
  Speaker 5: four family and like your renovation, so it's like you know,
• 30:46
  Speaker 5: paining the walls, you know, may throw some lemon the floor,
• 30:48
  Speaker 5: and make sure you know how much rent is coming
• 30:50
  Speaker 5: in on this property and then also see how much.
• 30:53
  Speaker 3: You're paying for it and know what your mortgage is
• 30:54
  Speaker 3: going to be. So the difference that's going to be
• 30:56
  Speaker 3: your cash flow.
• 30:57
  Speaker 5: As far as like what is the number, it's kind
• 30:59
  Speaker 5: of like for me personally, like for for any property
• 31:01
  Speaker 5: that I get, fifteen hundred is kind of like my
• 31:03
  Speaker 5: number fifteen hundred and rent. The difference between the mortgage
• 31:06
  Speaker 5: and the run. So let's say if the mortgage is
• 31:08
  Speaker 5: two thousand, I need to be cut like in thirty five. Okay,
• 31:10
  Speaker 5: So the way I do that is basically five hundred
• 31:12
  Speaker 5: goals aside, and that's for your vacancy, is your repairs.
• 31:14
  Speaker 3: So things like it happened in the house and then
• 31:16
  Speaker 3: the other dollars is kind of like your profit. Okay,
• 31:19
  Speaker 3: that's the minimum that you want. That's yeah, hudle thumb
• 31:21
  Speaker 3: for me for my area. That's kind of like, you know,
• 31:23
  Speaker 3: if those are the numbers, then the it's a keeper
• 31:25
  Speaker 3: then and I go through. I'll go through on the deal.
• 31:27
  Speaker 7: If those are not the numbers and I just kind
• 31:29
  Speaker 7: of like pass up on the deal.
• 31:30
  Speaker 3: Do you have a minimum as far as the value
• 31:31
  Speaker 3: of the home, like you want to get it for
• 31:33
  Speaker 3: at least fifty thousand under its market value or something
• 31:36
  Speaker 3: like that.
• 31:38
  Speaker 2: This episode is brought to you by P and C Bank.
• 31:40
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• 31:43
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  Speaker 5: Yes, going back to like the formula is basically the
• 34:03
  Speaker 5: value of the property. Then I look for what can
• 34:06
  Speaker 5: I catch this out for? Like, right now, I have
• 34:08
  Speaker 5: the lender who gives me seventy five percent lot of value,
• 34:10
  Speaker 5: so I already know value. Multiply that by the seventy
• 34:14
  Speaker 5: five percent. Let's just say the numbers is two hundred,
• 34:17
  Speaker 5: so kind of I use two hundred as my mark, right,
• 34:19
  Speaker 5: and I'll say, okay, now I have the two hundred
• 34:21
  Speaker 5: thousand my hair. Look at how much you know I'm
• 34:23
  Speaker 5: paying for the property. Let's just say it's there's one hundred.
• 34:26
  Speaker 5: That's one hundred spread. Now I look at how much
• 34:28
  Speaker 5: is gonna cost me to renovate. It's gonna cost me
• 34:30
  Speaker 5: a hundred to renovate, and then cash out is kind
• 34:33
  Speaker 5: of like two hundred. There's two hundred basically, like there's
• 34:35
  Speaker 5: no there's no money in there basically, so it's kind
• 34:38
  Speaker 5: of like there's one hundred. Then I have to be like,
• 34:39
  Speaker 5: let's say one fifth or even one seventy five, so
• 34:41
  Speaker 5: that once I'm done renovating, I do the cash out,
• 34:43
  Speaker 5: I'm actually able to get my money back. Like the
• 34:46
  Speaker 5: go is not so much to make a profit on
• 34:48
  Speaker 5: the cash out, but just to at least get your
• 34:50
  Speaker 5: money back so you.
• 34:50
  Speaker 7: Can move on to the next one. Because if you
• 34:52
  Speaker 7: do it correctly, if let's say you have.
• 34:56
  Speaker 5: Thousand dollars to buy a property, you go out, you
• 35:00
  Speaker 5: buy a property, you renovate it, you rent it, and
• 35:03
  Speaker 5: then you cash it out. If you guys need to
• 35:04
  Speaker 5: get back your thirty thousand, and it's like let's say
• 35:08
  Speaker 5: it's from it will take you six months to do that.
• 35:11
  Speaker 5: So six months later, basically you got your thirty you know,
• 35:13
  Speaker 5: you got your thirty thousand.
• 35:13
  Speaker 3: Dollars back, and do that again.
• 35:14
  Speaker 5: So like it's kind of like with that same money
• 35:17
  Speaker 5: every six months you can buy a property or every
• 35:19
  Speaker 5: three months depending how fast you move.
• 35:21
  Speaker 3: And you're taking your money after some people will clear
• 35:22
  Speaker 3: you're taking your money out. Be it not home equity loans, right,
• 35:26
  Speaker 3: you're taking your money out, no to hard money, like
• 35:29
  Speaker 3: not just the hard money. So keyword is acid based lender.
• 35:33
  Speaker 3: Acid based lender.
• 35:34
  Speaker 5: Yes, it's income based lenders will be like your Wells Fargo,
• 35:37
  Speaker 5: your Bank of America, you know, your local bank. Third
• 35:39
  Speaker 5: the income based you know, you go to them, they
• 35:41
  Speaker 5: want to see the top credit score, they want to
• 35:43
  Speaker 5: you know, they want to see that you have a
• 35:45
  Speaker 5: really good income taxes.
• 35:46
  Speaker 7: You know, they're actually making good money. Yourself me, all
• 35:49
  Speaker 7: of my money comes from real estate.
• 35:50
  Speaker 3: So when I go to a bank, and you know.
• 35:52
  Speaker 5: I still try it out once in a while because
• 35:54
  Speaker 5: they got a really good interest right now, always getting
• 35:55
  Speaker 5: that for the loans, because it's like all they see
• 35:57
  Speaker 5: is like, oh, they just see all these expenses. Everything's
• 35:59
  Speaker 5: come from real estate. So for them, it's like, oh
• 36:02
  Speaker 5: my god, it's like such a high risk.
• 36:03
  Speaker 3: You know, we can't we can't rap with them.
• 36:05
  Speaker 5: But when you go to these asset based lender, they
• 36:06
  Speaker 5: don't see any of that. All they're seeing is like,
• 36:08
  Speaker 5: what is the house? Like, this is the house right now?
• 36:10
  Speaker 5: What how much you think is worth?
• 36:12
  Speaker 3: It's worth this much? All right? This is how much?
• 36:14
  Speaker 5: Right now? There's how much some collecting the rent. So
• 36:15
  Speaker 5: it's like all right, cool, yeah, you can give you
• 36:17
  Speaker 5: the loan on that.
• 36:17
  Speaker 3: So outside of hard money lenders, who else is the
• 36:19
  Speaker 3: asset based slender?
• 36:21
  Speaker 7: Asset based lender the one I used right now, they're
• 36:24
  Speaker 7: called Visio.
• 36:25
  Speaker 3: They're like they're like companies, Yeah, the companies nation companies. No, no,
• 36:30
  Speaker 3: this is no. They're nationwide legit bank companies. But they
• 36:34
  Speaker 3: just work with investors. What's the one that you use?
• 36:37
  Speaker 7: Visual lengthing is the one that I'm currently using right now.
• 36:40
  Speaker 3: That's another thing too.
• 36:41
  Speaker 5: I mean, you got to keep these guys in rotation
• 36:42
  Speaker 5: because it's like the other lender that I use before,
• 36:45
  Speaker 5: they will give me seventy percent.
• 36:46
  Speaker 3: Now this one gets seventy five percent. That five percent
• 36:49
  Speaker 3: that's a huge difference.
• 36:50
  Speaker 9: You know.
• 36:50
  Speaker 5: It's if you're talking about three hundred thousand do the
• 36:53
  Speaker 5: house that's fifteen thousand.
• 36:54
  Speaker 3: Dollars, what's the interest rate usually from that compared to
• 36:57
  Speaker 3: like a regular traditional.
• 36:58
  Speaker 7: Bin the traditional bank my choice with like five percent.
• 37:00
  Speaker 3: These guys are choice like a six and a half. Yeah,
• 37:03
  Speaker 3: and then it's a five year arm so after.
• 37:06
  Speaker 7: Five years you have to either sell a house and
• 37:08
  Speaker 7: have to refive.
• 37:09
  Speaker 2: And we kind of spoke off camera, but we said, harmoney,
• 37:12
  Speaker 2: anybody could be a hard money lender, right to do
• 37:14
  Speaker 2: it individually or you can team up with a bunch
• 37:16
  Speaker 2: of people exactly. And I think one of the other
• 37:18
  Speaker 2: things is that the timeframe, right, the timeframe when they
• 37:21
  Speaker 2: want their money back is obviously a lot different, right,
• 37:23
  Speaker 2: this is not a thirty year thing, right, they want
• 37:24
  Speaker 2: their money back then, like, what are some of the
• 37:26
  Speaker 2: time frames?
• 37:27
  Speaker 5: Well, hard money lenders they want their money back ideally
• 37:29
  Speaker 5: like in one year. They might give an extension for
• 37:30
  Speaker 5: another six months or another year. With these cash up
• 37:34
  Speaker 5: has to base lenders. They'll give you loans for a
• 37:37
  Speaker 5: fixed for five years like the thirty year mortgage, but
• 37:41
  Speaker 5: basically is like an interest race for five years, seven years,
• 37:43
  Speaker 5: or ten years.
• 37:44
  Speaker 3: But after you know, at one point they want you
• 37:46
  Speaker 3: to either you know, refive them out sell the house,
• 37:49
  Speaker 3: or you could go with the thirty year program. But
• 37:51
  Speaker 3: the interest rates.
• 37:51
  Speaker 5: Gonna be like h you might look at like an
• 37:52
  Speaker 5: eight and a half nine percent, So I'd rather just
• 37:54
  Speaker 5: go with the short terms. I figured, you know, five
• 37:56
  Speaker 5: years for me is like a long time, and I'm
• 37:59
  Speaker 5: constantly evolving in real estate. So I figured, like, you know,
• 38:02
  Speaker 5: get the lower interest rate just to increase the cash flow,
• 38:04
  Speaker 5: and then in five years, I'll figure it out, you
• 38:06
  Speaker 5: know what, the next So.
• 38:07
  Speaker 3: What do you usually do in five years? What do
• 38:09
  Speaker 3: you do? What's your game plan?
• 38:11
  Speaker 5: But let's just say right now, I work with my
• 38:13
  Speaker 5: portfolio right now, right now, I just started building brand
• 38:17
  Speaker 5: new construction houses.
• 38:18
  Speaker 3: Those I'm not going to keep.
• 38:20
  Speaker 5: Had I done new construction a couple of years ago,
• 38:22
  Speaker 5: I definitely would have kept them. But my mindset right
• 38:25
  Speaker 5: now is to develop buildings. And I already have the
• 38:27
  Speaker 5: land to start developing buildings, but I feel like that's
• 38:30
  Speaker 5: like too far to reach for me right now.
• 38:32
  Speaker 3: Yeah, So what I'm gonna do.
• 38:33
  Speaker 5: I'm gonna up selling about from ten to fifteen new construction.
• 38:36
  Speaker 5: Sell those, get that money, and then start building the buildings.
• 38:40
  Speaker 5: So like in five years, I already have a couple
• 38:42
  Speaker 5: of buildings. Once I start developing the buildings, Let's say,
• 38:44
  Speaker 5: if I develop a thirty in the building, I'm gonna
• 38:46
  Speaker 5: start unloading thirty unions of these like smaller properties, like
• 38:49
  Speaker 5: I don't want to deal with like the headque of
• 38:51
  Speaker 5: these smaller ones.
• 38:51
  Speaker 3: When I have thirty tens in one section.
• 38:54
  Speaker 2: If this sounds like monopoly, it is like I really
• 38:58
  Speaker 2: watched your vision board and like the last board is
• 39:00
  Speaker 2: like and when I get all these things, I'll have
• 39:03
  Speaker 2: my monopoly. So you're starting with the little the little
• 39:05
  Speaker 2: greenhouses until you can get the red building right and
• 39:08
  Speaker 2: once you start doing that, three three.
• 39:10
  Speaker 3: Greenhouses in one red hotel, that's that's hotel hotel. If
• 39:14
  Speaker 3: you understand me, now I'll sell all the topics stand monopoly,
• 39:16
  Speaker 3: you can understand how to make money in this world.
• 39:18
  Speaker 3: I'm gonna take this right now.
• 39:19
  Speaker 5: Like the way I play Monopoly as a kid, and
• 39:23
  Speaker 5: even now, that's the same way I approach realistic. It's
• 39:27
  Speaker 5: like my strategy when I play Monopoly is just you know,
• 39:29
  Speaker 5: obviously you got to go around go to just collect
• 39:30
  Speaker 5: that money. But whenever I land on a piece of property,
• 39:33
  Speaker 5: I try to get that property. Like I focus in
• 39:35
  Speaker 5: just getting like the property, and then you know, focus
• 39:37
  Speaker 5: on getting like kind of like the like the houses.
• 39:39
  Speaker 5: It's kind of like that sort of what I've been doing.
• 39:41
  Speaker 5: It's like if I see a really good deal and
• 39:42
  Speaker 5: I land on there, I'm.
• 39:44
  Speaker 3: Gonna try to get it. You know, it's like nothing't
• 39:46
  Speaker 3: let it pass out.
• 39:47
  Speaker 7: Now I own properties that are kind of like next
• 39:49
  Speaker 7: to each other.
• 39:50
  Speaker 5: If you look at a building anywhere you go and
• 39:53
  Speaker 5: you really size up the building, you realize.
• 39:54
  Speaker 3: It, like, you know what, it's not that big of
• 39:56
  Speaker 3: a land.
• 39:57
  Speaker 5: It's just that a small piece of land. They just
• 39:59
  Speaker 5: they just went, I'm pretty high up and they have
• 40:01
  Speaker 5: all these units. So and then the city is where
• 40:03
  Speaker 5: you're gonna find the buildings. You're not gonna find them
• 40:04
  Speaker 5: in the suburbs. So now if you basically it's sort
• 40:07
  Speaker 5: of just like monopoly to get you know, four properties,
• 40:09
  Speaker 5: and on those four properties like the probabuilding.
• 40:12
  Speaker 3: All right, So that leads perfect segue into our next
• 40:15
  Speaker 3: segment where we're gonna talk about your next level of
• 40:18
  Speaker 3: what you're doing, which we was just briefly talking about.
• 40:20
  Speaker 3: But we're gonna go into details for to the next level.
• 40:25
  Speaker 3: All right, So we're playing we're playing monopoly with real money,
• 40:28
  Speaker 3: like the what was that video? Presidents shouted the shout
• 40:33
  Speaker 3: that Jay we had the reference day. Yeah, we kept
• 40:36
  Speaker 3: as two players that we're gonna play with some real money,
• 40:41
  Speaker 3: easy game. Big. We was kind of raised off music.
• 40:45
  Speaker 3: That's what we we. We relate to the music a lot.
• 40:48
  Speaker 3: But if anybody from that era, you remember they were
• 40:50
  Speaker 3: playing Monopoly with real money. But it is actually really
• 40:54
  Speaker 3: like it Rat. It's bigger than Rat. We get his
• 41:00
  Speaker 3: vib So all right, so now you talked about the
• 41:05
  Speaker 3: blueprint as far as to buy the homes and then
• 41:09
  Speaker 3: to get the money out of the homes and then
• 41:12
  Speaker 3: buy another home and kind of keep that's like bone
• 41:14
  Speaker 3: what you're saying that. See, all successful people have a plan, right,
• 41:18
  Speaker 3: nobody just start. We had another guest on episode eleven,
• 41:21
  Speaker 3: shot Derek Falcon. He was a great episode on He's
• 41:24
  Speaker 3: a restaurant own in Baltimore, and he spoke about you
• 41:27
  Speaker 3: have to have a vision, right his vies like whenever
• 41:30
  Speaker 3: he goes into something, he thinks about like what is
• 41:32
  Speaker 3: his grandkids going to inherit? Like you know, that's like
• 41:34
  Speaker 3: his play, like what's the grandkids going to inherit? Even
• 41:37
  Speaker 3: though he doesn't even have kids yet, don't think.
• 41:41
  Speaker 5: So.
• 41:41
  Speaker 3: But so that's like you got always think three steps ahead.
• 41:45
  Speaker 3: So you already you're already playing three steps ahead. Right,
• 41:47
  Speaker 3: So you did the you're doing the real estate thing
• 41:50
  Speaker 3: with the mixed unit well multi level homes and things
• 41:53
  Speaker 3: that nature, most of them homes, but the next play
• 41:57
  Speaker 3: is a bigger play, right, Yeah, so we want to
• 42:00
  Speaker 3: about that in this segment. So you told me over
• 42:02
  Speaker 3: the phone when we spoke, and I saw it the seminar,
• 42:05
  Speaker 3: and now you're just buying plots of land, right and yeah,
• 42:08
  Speaker 3: now you're a real estate developer. Yes, can you talk
• 42:11
  Speaker 3: about that? Yeah.
• 42:14
  Speaker 5: So a couple of months back, like I was with
• 42:16
  Speaker 5: with Caesar and so we went out of political function
• 42:19
  Speaker 5: and we're just you know, chopping it up. And he
• 42:21
  Speaker 5: showed me email. He's like, oh, look like he's lots
• 42:24
  Speaker 5: to day for sale, like you're interested.
• 42:26
  Speaker 3: And I looked at him. I saw the addresses. I
• 42:29
  Speaker 3: was like, man, I'm just garbage, like because people for two.
• 42:33
  Speaker 2: Seconds, because when I say lots, right, a lot of
• 42:35
  Speaker 2: people will think, oh, you're buying a parking lot.
• 42:38
  Speaker 3: No, so that that goes over like they're like, he's
• 42:42
  Speaker 3: finding their lives.
• 42:43
  Speaker 7: Basically, that's where your properties, like the house is located exactly.
• 42:46
  Speaker 3: Okay, thank you.
• 42:47
  Speaker 7: So he looks at him, so he's like, yeah, I
• 42:48
  Speaker 7: feel the same thing.
• 42:49
  Speaker 5: But as I'm looking through, I saw there was one
• 42:51
  Speaker 5: address that popped up and it was two lots and
• 42:54
  Speaker 5: then went next to two properties that already own that
• 42:57
  Speaker 5: are right next to each other. So I was like, oh, minute,
• 43:01
  Speaker 5: I was been looking for that one. I was like oh,
• 43:03
  Speaker 5: I was like, so, I was like, yoh, let me
• 43:04
  Speaker 5: get that list. He send it over to me and
• 43:05
  Speaker 5: then reached out to the Relton. But I just wanted
• 43:08
  Speaker 5: those two. I wasn't interested interested in the other ones.
• 43:10
  Speaker 3: Yeah. So, but the guy was like, now the seller,
• 43:13
  Speaker 3: he's only.
• 43:14
  Speaker 5: Willing to basically sell the whole everything together, Like he's
• 43:17
  Speaker 5: not gonna just make a pick which once you want,
• 43:19
  Speaker 5: So I still push for I was like, you know what,
• 43:21
  Speaker 5: then I'm about it. You know, I try to squeeze
• 43:23
  Speaker 5: in half of them and like put some them off
• 43:24
  Speaker 5: for like half.
• 43:25
  Speaker 3: He's like, nah, he wants, he wants. You know, you
• 43:27
  Speaker 3: gotta buy everything.
• 43:27
  Speaker 5: So I low balled them on everything, and just with
• 43:30
  Speaker 5: the idea, I said, you know what, I'm going to
• 43:31
  Speaker 5: buy everything. And as soon as I buy it, did
• 43:33
  Speaker 5: the numbers that if he gives it to me at
• 43:34
  Speaker 5: this price, I could just throw it back on the market,
• 43:37
  Speaker 5: just make a few a few dollars on it, so
• 43:41
  Speaker 5: get into the process.
• 43:41
  Speaker 3: I ended up going on the contract. As I'm going
• 43:44
  Speaker 3: on the contract, I'm started doing more research.
• 43:46
  Speaker 5: I started researching brand new constructions, and I noticed that
• 43:49
  Speaker 5: they were selling for like three fifty three thirty three
• 43:54
  Speaker 5: sixty And I realized that they are new constructions. But
• 43:58
  Speaker 5: these new constructions were built in two thousand and three.
• 44:02
  Speaker 5: Now these will be built in twenty eighteen, So it's
• 44:05
  Speaker 5: like waiting. That means that these have to be worth
• 44:06
  Speaker 5: a lot more than so at least three seventy five.
• 44:10
  Speaker 5: So so so I figured, I, so the key's like
• 44:13
  Speaker 5: no number one, you gotta know what you can. You
• 44:15
  Speaker 5: saw something for so like I had three seventy five,
• 44:18
  Speaker 5: So now how much am I paying for these lasts?
• 44:21
  Speaker 3: On average? I was like paying like twenty five twenty
• 44:24
  Speaker 3: five thousand. How many left did you buy? Twenty two? Well,
• 44:27
  Speaker 3: twenty five thousand a piece, twenty five thousand a piece here,
• 44:30
  Speaker 3: and there was like another like a two family under that.
• 44:31
  Speaker 3: They just kind of like the win. How do you do?
• 44:34
  Speaker 3: How do you how do you buy lots? You buy
• 44:36
  Speaker 3: any cash? So you can you get like a moan
• 44:38
  Speaker 3: for that. Yeah, that was like a message.
• 44:40
  Speaker 5: But I'm colling up like the hard money numbers that
• 44:42
  Speaker 5: I use, and they're like, we don't know what I'm
• 44:44
  Speaker 5: vacant lost.
• 44:44
  Speaker 3: I was like, wait on okay, I just put up.
• 44:48
  Speaker 3: I just put up like twenty thousand dollars non refundable
• 44:51
  Speaker 3: with you. You can't know me on this, Like now
• 44:53
  Speaker 3: you know what you gotta put up like fifty percent.
• 44:55
  Speaker 3: I was like, shit, I can't. I was like, no,
• 44:56
  Speaker 3: that's too much, is it.
• 44:56
  Speaker 5: Then I started making pocals and I start explaining to them,
• 44:59
  Speaker 5: you know how to come the stage.
• 45:00
  Speaker 3: Do you know how much business we've done.
• 45:01
  Speaker 2: You've got some great context if I close myationship, really
• 45:08
  Speaker 2: good relationships.
• 45:09
  Speaker 3: Man.
• 45:09
  Speaker 5: So I'm a quiet guy, like you know another like
• 45:11
  Speaker 5: a big speaker, but you know when it comes to
• 45:13
  Speaker 5: like you know, business and stuff, and then get on
• 45:14
  Speaker 5: that phone, it's like, you know, I started, like I start.
• 45:15
  Speaker 7: Transforming man, like like Michael Jackson gets on stage. You know,
• 45:19
  Speaker 7: quiet do off stage, but on stage has the performance
• 45:21
  Speaker 7: showtimes so.
• 45:23
  Speaker 3: Long time shot.
• 45:24
  Speaker 5: I convinced them to loan me and uh and they
• 45:26
  Speaker 5: were willing to do. You know, the lender was waiting
• 45:28
  Speaker 5: to do twenty percent. One thing about these lots that
• 45:30
  Speaker 5: I picked up though, is that because they're located in
• 45:32
  Speaker 5: urban areas, they're located in redevelopment zones, which meant that
• 45:37
  Speaker 5: the city has these kind of sort of like set
• 45:40
  Speaker 5: idea of what you can build on these lots, and
• 45:43
  Speaker 5: if you meet the square footage and what they want,
• 45:46
  Speaker 5: then you don't need to go in front of the
• 45:48
  Speaker 5: zoning board.
• 45:49
  Speaker 3: You can just basically submit pay Like just.
• 45:51
  Speaker 5: Submit plans to the building department is just like taking
• 45:55
  Speaker 5: out a permit on a whole new construction.
• 45:58
  Speaker 3: So that allowed me to let these out.
• 46:00
  Speaker 5: So as soon as I close, I was able to
• 46:02
  Speaker 5: get with the architect and sim it all the paper
• 46:05
  Speaker 5: we can. I already have permits on five, which means
• 46:07
  Speaker 5: I already have the financing in place to build these five.
• 46:12
  Speaker 3: What's the permits you talk about that when when we
• 46:14
  Speaker 3: first spoke, you had to have the permits? Like it's
• 46:17
  Speaker 3: a process, right when you buy a land, Like it's
• 46:19
  Speaker 3: different than just buying.
• 46:20
  Speaker 5: A home, right, so yeah, yeah, when you yeah, but
• 46:22
  Speaker 5: when you buy a land, is it's more complicated because
• 46:24
  Speaker 5: it's like banks don't really want to loan online.
• 46:26
  Speaker 3: Because what do you have just have dirt. Basically, you know,
• 46:28
  Speaker 3: it's like no, no, no property, there's no cash flow,
• 46:30
  Speaker 3: nothing on it. It's just basically baking lots.
• 46:32
  Speaker 5: And in most places when you buy a lot, you
• 46:35
  Speaker 5: have to go in front of the zone board, which
• 46:36
  Speaker 5: can take a year before you can start building up these.
• 46:40
  Speaker 3: You know, fortunately I was able to kind of like
• 46:41
  Speaker 3: build right away.
• 46:42
  Speaker 5: So now going back to like the numbers basically, like
• 46:45
  Speaker 5: so three seventy five and twenty five for the lot,
• 46:47
  Speaker 5: that puts me like a three fifty. So now the
• 46:51
  Speaker 5: difference between now, let's say a few years back is
• 46:54
  Speaker 5: like the market where is that now where it was
• 46:56
  Speaker 5: a few years back. If we go back like three
• 46:57
  Speaker 5: years you built on a new construction home, you were
• 46:59
  Speaker 5: lucky to get two fifty maybe two seventy five for it.
• 47:02
  Speaker 5: But now thinking about it, now, let's say it if
• 47:04
  Speaker 5: it costs you two twenty five to bill and you're
• 47:06
  Speaker 5: gonna sell it for two fifty years, you're almost like
• 47:08
  Speaker 5: bricking ethan basically, or even like, you know, two seventy five,
• 47:11
  Speaker 5: I'm real to make much money. So now then you
• 47:13
  Speaker 5: can go three seventy five. That gives an extra whole
• 47:15
  Speaker 5: hundred thousand. So that makes a big difference. So that
• 47:18
  Speaker 5: kind of changed over my mind. I said, you know what,
• 47:20
  Speaker 5: why am I gonna not do complete renovations when I
• 47:23
  Speaker 5: could just basically build all these homes. So now instead
• 47:26
  Speaker 5: of grabbing the lots, keeping the ones that I want
• 47:28
  Speaker 5: to send off the other ones and saying no, I
• 47:29
  Speaker 5: forget that, I'm gonna basically get all these lots and
• 47:32
  Speaker 5: I'm gonna build all of them.
• 47:33
  Speaker 3: So can we go back a little bit because you
• 47:35
  Speaker 3: said season had a.
• 47:36
  Speaker 2: List, right and it was twenty two you're twenty two lots.
• 47:39
  Speaker 2: Where does someone even see that list? Like, is that
• 47:41
  Speaker 2: at an auction of where we're getting that? We have
• 47:42
  Speaker 2: to go a kind of clerk or something.
• 47:44
  Speaker 3: No, No, that's just relationships.
• 47:46
  Speaker 5: It's basically when you're known, you know, for making deals,
• 47:50
  Speaker 5: deals will pop up on your email, like you know,
• 47:52
  Speaker 5: I get phone calls all the time like hey, listen,
• 47:54
  Speaker 5: I got this deal, and it's like, you know, it's
• 47:55
  Speaker 5: a good deal of John vardem it's not a good deal.
• 47:57
  Speaker 3: Now I'll let it go. A lot of times you've
• 47:58
  Speaker 3: been telling me like, hello, you ever let go one
• 48:00
  Speaker 3: those deals? Is this?
• 48:02
  Speaker 5: It's like you don't want it because it's like if
• 48:04
  Speaker 5: this is the reason if I let it go is
• 48:05
  Speaker 5: because it's not a good deal.
• 48:06
  Speaker 7: If it's a good deal, I'm going to somehow someway
• 48:08
  Speaker 7: I'm gonna make appen.
• 48:09
  Speaker 3: So all right, So okay, So now you're building homes, right,
• 48:15
  Speaker 3: So when you you're building homes from scratch? Right? What
• 48:17
  Speaker 3: kind of homes are you building? How do you build
• 48:20
  Speaker 3: a home? Who do you have? Contract? Like? How does
• 48:23
  Speaker 3: danet happen? So? All right? So I mean, first of all,
• 48:26
  Speaker 3: you know, the idea of building something from the ground up.
• 48:28
  Speaker 3: Was was scared. I was like, I've never done it.
• 48:31
  Speaker 3: It's like, how am I going to do this?
• 48:33
  Speaker 5: But you know, going back to the whole renovation schedule,
• 48:36
  Speaker 5: when you map it out and you like kind of
• 48:37
  Speaker 5: break everything up into pieces. It's like when you do
• 48:41
  Speaker 5: a complete renovation, the first thing that I basically look for,
• 48:45
  Speaker 5: you know, you need to cut the property.
• 48:46
  Speaker 3: Once you cut the property, then you go to the framing.
• 48:49
  Speaker 5: You know, it's like a system, and from framing you
• 48:50
  Speaker 5: go to you want to do the plumbing, Then you
• 48:53
  Speaker 5: do the electric, you know, then it comes the installation,
• 48:56
  Speaker 5: it comes to driveaball.
• 48:56
  Speaker 7: So it's like a process of step you just kind
• 48:58
  Speaker 7: of map it out step by step.
• 49:00
  Speaker 5: So, now if you put complete renovation on one side,
• 49:02
  Speaker 5: you put new construction on the other side, what's the
• 49:04
  Speaker 5: difference between the two. The only difference is that on
• 49:07
  Speaker 5: a on a car, on a new construction, you need
• 49:12
  Speaker 5: foundation and you need framing. Once you have foundation and framing,
• 49:16
  Speaker 5: pretty much what you have is like the skeleton of
• 49:18
  Speaker 5: a house. When you buy a house and you do
• 49:20
  Speaker 5: a gun renovation, that's all you left with the skeleton
• 49:22
  Speaker 5: of the house. So now if so I kind of
• 49:25
  Speaker 5: like really did the math. I was like, oh, if
• 49:26
  Speaker 5: I picked up the last of twenty five, how much
• 49:29
  Speaker 5: can it really cost me to.
• 49:29
  Speaker 3: Do a foundation?
• 49:30
  Speaker 5: And I just you know, I figured, you know what
• 49:32
  Speaker 5: made you know, made some phone calls just you know,
• 49:34
  Speaker 5: contractors giving me prices and like most people.
• 49:36
  Speaker 3: Say, like forty thousand for cement.
• 49:39
  Speaker 5: Up forty thousand you're just theed just the foundation out
• 49:42
  Speaker 5: so it's like a forty thousand, And made some other
• 49:44
  Speaker 5: phone because how much is you know for the frame
• 49:45
  Speaker 5: this thing? It came up to price like forty thousand,
• 49:47
  Speaker 5: like eighty so now eighty plus the twenty five that's
• 49:50
  Speaker 5: one of five. I was like, I'm paying that right
• 49:52
  Speaker 5: now to renovate it for like a complete renovation. And
• 49:55
  Speaker 5: that's the worst case scenario right now. Being like someone
• 49:58
  Speaker 5: who who who knows how to maneuver my way around construction,
• 50:02
  Speaker 5: it is like those the I probably cut both of
• 50:05
  Speaker 5: them down like be half how much it.
• 50:08
  Speaker 3: Of course, like how much more costs to build up
• 50:09
  Speaker 3: everything else? Yeah, you know right now. I mean it's
• 50:13
  Speaker 3: gonna be my first rodeo. So it's kind of like
• 50:14
  Speaker 3: it's just a budget that I have in my head.
• 50:16
  Speaker 3: And my budget right now is like one seventy five
• 50:18
  Speaker 3: and you sell that home for much three seventy five
• 50:21
  Speaker 3: to make two hundred thousand.
• 50:23
  Speaker 5: But then you know, minus the twenty five of the
• 50:25
  Speaker 5: line and minus the closing comes out right there.
• 50:27
  Speaker 7: So let's say like one fifty, like ten of them
• 50:30
  Speaker 7: is like one point five.
• 50:31
  Speaker 9: So what's are you selling these homes or are you
• 50:33
  Speaker 9: sun like I said, like only signing them because it's
• 50:37
  Speaker 9: like now, my vision is to develop buildings, so I
• 50:39
  Speaker 9: already have the last for the buildings.
• 50:41
  Speaker 7: I just don't have the knowledge of building the building
• 50:44
  Speaker 7: and I don't.
• 50:44
  Speaker 5: Have the liquid funds to get into a project like
• 50:47
  Speaker 5: that because it's like I have this big portfolio and
• 50:50
  Speaker 5: net worth is looking pretty nice.
• 50:52
  Speaker 3: Yeah, but you know, the cash flow is looking pretty
• 50:55
  Speaker 3: tight because it's kind of like.
• 50:56
  Speaker 5: You know, the way I see it, once my all
• 50:58
  Speaker 5: my personal bills are taken care of, is like if
• 51:01
  Speaker 5: I have five thousand dollars in cash low in the month,
• 51:04
  Speaker 5: the way I see it is like money has to
• 51:05
  Speaker 5: work for me. I don't work for money, So it's
• 51:07
  Speaker 5: kind of that money is just sitting in the back.
• 51:09
  Speaker 5: I just got basically five thousand dollars and lazy in
• 51:11
  Speaker 5: the back, so I got put into work so I
• 51:13
  Speaker 5: don't look around and try to find like a property
• 51:15
  Speaker 5: and that I know I can hold up, Like that's
• 51:17
  Speaker 5: five thousand dollars worth of mortgages that I can.
• 51:18
  Speaker 3: Hold up on the house until I'm ready to start,
• 51:21
  Speaker 3: you know, working on it. You said money works for me.
• 51:25
  Speaker 3: I don't work for money.
• 51:28
  Speaker 2: I was actually going because you told myself in all
• 51:29
  Speaker 2: camera he was like net worth or what was the soul?
• 51:33
  Speaker 5: You said, uh no, yeah, because it's kind of like
• 51:35
  Speaker 5: y'all separate things you got here, you know, your asset
• 51:38
  Speaker 5: minus be your liabilities, which you know, listen, we heard that.
• 51:42
  Speaker 3: You say net worth networth rich, but cash Oh yeah, networth, yeah,
• 51:47
  Speaker 3: I'm networth rich for cash flow poor.
• 51:49
  Speaker 5: Yeah yeah, I'm cool with that for now because it's
• 51:51
  Speaker 5: like I'm trying to build up. I'm trying to, you know,
• 51:52
  Speaker 5: just climb up to a certain level.
• 51:54
  Speaker 2: All right, So your net worth could be thirty million, right,
• 51:56
  Speaker 2: but your cash flow could be three thousand, and that's okay, right,
• 52:00
  Speaker 2: exactly like I.
• 52:01
  Speaker 3: Wish I had. But it's basically like yeah, like you know,
• 52:05
  Speaker 3: it's two different things.
• 52:07
  Speaker 5: Like it's just us raptists for example, Like you know,
• 52:10
  Speaker 5: people who get these large amounts of money, they're cash rich, right, like.
• 52:14
  Speaker 3: They have a lot of cash on hand.
• 52:16
  Speaker 5: But the ifro I have like no net worth, you
• 52:18
  Speaker 5: probably see people with like the nice cars with jewelry
• 52:20
  Speaker 5: and everything, and they riding around within that worth. Yeah,
• 52:23
  Speaker 5: so then you can see someone like me, I'm driving
• 52:25
  Speaker 5: to yoa TSA coma. It's like I'm not studying, but
• 52:29
  Speaker 5: it's like the network is looking.
• 52:30
  Speaker 2: Nice, network is looking more than nice. What's the time
• 52:33
  Speaker 2: frame on building from the ground up?
• 52:36
  Speaker 5: That's then you know, it's just like you don't know
• 52:38
  Speaker 5: when you're not familiar with something. In my mind, I
• 52:40
  Speaker 5: wouldy sat out was like a year is gonna say
• 52:41
  Speaker 5: to build up a house. Before I started doing the house,
• 52:44
  Speaker 5: I was like six months I'm gonna build, you know
• 52:46
  Speaker 5: it's going to be the time frame. Now the time
• 52:48
  Speaker 5: frame is looking like three months. So I think like
• 52:50
  Speaker 5: three months I could knock out house. Wow, And I
• 52:52
  Speaker 5: could probably build them like two, probably like two to
• 52:55
  Speaker 5: three weeks apart. So you go on my Instagram might
• 52:58
  Speaker 5: now already posted two of them the cement think exactly.
• 53:01
  Speaker 5: One already have the foundation, the other one I'm working
• 53:03
  Speaker 5: on the footing, and then probably like another two weeks.
• 53:07
  Speaker 3: One already is gonna have to frame me.
• 53:08
  Speaker 5: The other one's gonna have the foundation, and I'm gonna
• 53:10
  Speaker 5: be working on the footing much one.
• 53:11
  Speaker 3: And it's like and they're gonna be lined up.
• 53:12
  Speaker 2: Like that, and you just using the same team. He's
• 53:14
  Speaker 2: time or you're like, you know what, I'm gonna capitalize
• 53:17
  Speaker 2: by using different teams that I trust to work on
• 53:19
  Speaker 2: these properties.
• 53:20
  Speaker 5: It's like I have my core guys that I trust
• 53:23
  Speaker 5: and like, I know they can handle things, and then
• 53:25
  Speaker 5: it's their responsibility to build up on them. So it's
• 53:28
  Speaker 5: kind of like like my project manager, his job is
• 53:31
  Speaker 5: to kind of like I tell him this is what
• 53:33
  Speaker 5: I want to do, and then he goes out. He
• 53:36
  Speaker 5: finds the extra help, even if it means, you know,
• 53:39
  Speaker 5: reaching out to a contractor to kind of help him out.
• 53:41
  Speaker 5: You know, it's crazy, like if I reach out to
• 53:42
  Speaker 5: a contract that, let's just say, they might tell me
• 53:43
  Speaker 5: fifteen thousand.
• 53:44
  Speaker 3: I tell him to reach out, he ends up getting
• 53:46
  Speaker 3: it for time, you know.
• 53:47
  Speaker 5: Because it's like the relationships and Mason, the concept of like, hey, listen,
• 53:52
  Speaker 5: you gotta give in your prices. I need to make
• 53:53
  Speaker 5: money off of this. But then you know, obviously I
• 53:56
  Speaker 5: know what's going on, and the saving is getting passed
• 53:58
  Speaker 5: down on me.
• 53:58
  Speaker 3: Yeah. Wow, ladies and gentlemen. Once again, free education, right,
• 54:06
  Speaker 3: that's a good thing about the show. Instead, it's all
• 54:09
  Speaker 3: free and all of our guests are willing to provide
• 54:14
  Speaker 3: information because you didn't have to, you know, tell people
• 54:17
  Speaker 3: what you're doing, like you could just be selfish. Yeah, Like,
• 54:20
  Speaker 3: I mean, I'll say this much is like going on.
• 54:22
  Speaker 5: When she's did the first seminar and he tells me
• 54:25
  Speaker 5: you'll want to do a seminar, I was like, oh,
• 54:27
  Speaker 5: that's cool, Like I remember we spoke about doing like
• 54:29
  Speaker 5: little seminars, but they in churches.
• 54:33
  Speaker 3: It's gonna get back to the community. Like and I
• 54:34
  Speaker 3: see every time I see like, you know, a pastor.
• 54:36
  Speaker 3: I've talked to the laylists. You know, I'll do real estate.
• 54:38
  Speaker 5: You want me to go and speak to your congregation
• 54:40
  Speaker 5: that it's like, let me know, I'll come through and
• 54:41
  Speaker 5: i'll speak.
• 54:42
  Speaker 3: You know, nobody's everybody, you know what I mean.
• 54:47
  Speaker 5: But it's kind of like maybe now you know, it'sart
• 54:48
  Speaker 5: getting phone calls and stuff, but you know, but so
• 54:52
  Speaker 5: I thought that's what's gonna be. Were like, Nah, we're
• 54:53
  Speaker 5: gonna do like these seminars, you know, for like I
• 54:55
  Speaker 5: was like, you know, why, why do this? But then
• 55:00
  Speaker 5: when I went to the first seminary, I was supposed
• 55:02
  Speaker 5: mind you, I was supposed to speak at the first
• 55:03
  Speaker 5: seven or right, and it's.
• 55:04
  Speaker 3: Like when I get there, I was like, oh no,
• 55:05
  Speaker 3: I can't speak. Man.
• 55:06
  Speaker 5: It's like I'm not a public speakcause I was like, nah,
• 55:08
  Speaker 5: But looking at the crowd when I seen the crowd,
• 55:10
  Speaker 5: seem like everybody's like from the you know, the first
• 55:12
  Speaker 5: one was the past and I've seen a lot of
• 55:13
  Speaker 5: people that I know and and it just kind of
• 55:16
  Speaker 5: hit me and I'm like, you know what, man, that
• 55:18
  Speaker 5: was me ten fifteen years ago, and I knew nothing
• 55:20
  Speaker 5: and I needed it, like somebody to kind of just
• 55:23
  Speaker 5: not help me out, like giving me a hand, but
• 55:25
  Speaker 5: just kind of like guiding me like some of this.
• 55:26
  Speaker 3: Is you know, this is the direction, and it's kind
• 55:28
  Speaker 3: of like and we came from nothing.
• 55:29
  Speaker 5: So it's like I feel like when they see us,
• 55:32
  Speaker 5: you know, they're not see these guys in these fantacyes too,
• 55:33
  Speaker 5: they seeing themselves. So they're saying like, you know what
• 55:35
  Speaker 5: if you know, if like if they did it, they
• 55:37
  Speaker 5: put it they way to put into work, and you know,
• 55:39
  Speaker 5: look what they're right now.
• 55:39
  Speaker 3: I mean I can do it.
• 55:40
  Speaker 5: So I feel like I felt I felt bad like
• 55:43
  Speaker 5: that I didn't speak. I felt bad like, yeah, you
• 55:45
  Speaker 5: know what, I let my fear, you know, stop me
• 55:47
  Speaker 5: from going up there. Like and these people it's kind
• 55:49
  Speaker 5: of like they need like that motivation, you know what
• 55:51
  Speaker 5: I'm saying.
• 55:52
  Speaker 3: They need that information.
• 55:53
  Speaker 5: So that motivated me to kind of like you know,
• 55:56
  Speaker 5: you know, to push through and then I should speak
• 55:59
  Speaker 5: on stage. And I feel like it is like a
• 56:01
  Speaker 5: responsibility for you know, for people like us that we
• 56:03
  Speaker 5: are you know, at a at a certain you know,
• 56:06
  Speaker 5: certain level where we have like this knowledge of this information,
• 56:09
  Speaker 5: and it's kind of like we could keep it. But
• 56:11
  Speaker 5: it's like, you know, if Tiger Woods right now showed
• 56:13
  Speaker 5: you how to play golf, Michael Jordan showed you how
• 56:15
  Speaker 5: to play basketball, that's not gonna then they're like exactly,
• 56:18
  Speaker 5: I mean, it's still gonna be who they are. So
• 56:20
  Speaker 5: I feel like, if you know, if I go out
• 56:21
  Speaker 5: here and I tell you everything that I do, how
• 56:23
  Speaker 5: I do it.
• 56:24
  Speaker 3: You still want to regardless. Regardless. I mean, I'll tell
• 56:27
  Speaker 3: you this right now.
• 56:27
  Speaker 5: I mean I actually like start today and just with
• 56:30
  Speaker 5: these lasts that I have, with these uh these plans
• 56:32
  Speaker 5: that have with the buildings, I'm gonna stay busy for
• 56:34
  Speaker 5: the next five years, and all my crew, everybody that
• 56:37
  Speaker 5: works with me, they're gonna stay busy for the next
• 56:38
  Speaker 5: five years.
• 56:38
  Speaker 3: So we're all gonna eat.
• 56:39
  Speaker 5: So it's kind of like, you know, why why I
• 56:42
  Speaker 5: try to keep that information. It's kind of like, you know,
• 56:44
  Speaker 5: I don't need to bring you down so I.
• 56:46
  Speaker 3: Could elevate, you know what I mean.
• 56:47
  Speaker 5: It's like I could elevate myself and it bring you up,
• 56:49
  Speaker 5: and it's like and I'll still be up to everybody needs. Yeah,
• 56:51
  Speaker 5: everybody needs everybody, especially coming from in the city. Man,
• 56:55
  Speaker 5: it's like, we don't have the resources. So it's like,
• 56:58
  Speaker 5: you know when you feel in the city the resources
• 56:59
  Speaker 5: that we do have is like it's what everybody knows.
• 57:03
  Speaker 3: Is like, you know, you have the resources, like you
• 57:04
  Speaker 3: got the hustlers.
• 57:05
  Speaker 5: Maybe you know what I mean, you know somebody else
• 57:07
  Speaker 5: like a local data or something like that, but that's
• 57:08
  Speaker 5: not real money, you know what I mean.
• 57:09
  Speaker 3: It's like, you know, you might know somebody alws.
• 57:11
  Speaker 5: Like one property, but you really don't know those guys,
• 57:14
  Speaker 5: you know, those corporations that own these multiple big properties.
• 57:17
  Speaker 5: So it's like if we're in that situation, but that's
• 57:18
  Speaker 5: where we're at, then it's like and then the thing
• 57:21
  Speaker 5: is like, you know, we.
• 57:23
  Speaker 3: Didn't start with money, so not like we just started
• 57:25
  Speaker 3: you know it was lost to money. Thing like that.
• 57:27
  Speaker 5: We started from the ground up. So we started from
• 57:28
  Speaker 5: the ground up. You can start from the ground up.
• 57:30
  Speaker 5: And I feel like anybody could like get into real
• 57:33
  Speaker 5: estate owned a couple of properties, and I feel like
• 57:35
  Speaker 5: everyone should try to own a couple of properties.
• 57:37
  Speaker 3: Yeah that's a fact. So once again, man, thank you
• 57:40
  Speaker 3: for coming. Can you tell the people how to contact
• 57:42
  Speaker 3: you your social media handles and all that. Yeah, yeah,
• 57:44
  Speaker 3: like social media.
• 57:45
  Speaker 7: You know you find me on social media, go buy
• 57:47
  Speaker 7: Lord of the Slums.
• 57:48
  Speaker 5: It's Lord underscore of underscore the Slums bitally underscore between
• 57:52
  Speaker 5: each work. But you know, I'm not a slum lawyer.
• 57:54
  Speaker 5: I just I thought this was a funny name. You know,
• 57:57
  Speaker 5: I'm not here trying to sell anything. So it's like,
• 57:59
  Speaker 5: you know, I feel like it where it doesn't matter.
• 58:01
  Speaker 5: I feel like my my you know, when it comes
• 58:03
  Speaker 5: to lenders is like my my portfolio, my credit score,
• 58:06
  Speaker 5: like my my my background that speaks for yourself. So
• 58:08
  Speaker 5: like being like trying to do a little plown with
• 58:10
  Speaker 5: you know, with the name. You know, that's just you know,
• 58:12
  Speaker 5: me being funny.
• 58:13
  Speaker 3: Yeah, and you still on tour too, right with n
• 58:15
  Speaker 3: being Yeah, definitely have one of the guest speakers with
• 58:18
  Speaker 3: with the DJ and V and Flipping and Jake Seminars.
• 58:22
  Speaker 5: Definitely suggest you know, anybody whenever we have one. If
• 58:26
  Speaker 5: it's if you can make it, definitely make it out.
• 58:28
  Speaker 5: I mean we speak, I'm talking about five hours. It's
• 58:30
  Speaker 5: really NonStop, like you know, we don't like there's.
• 58:33
  Speaker 3: No breaks in between.
• 58:34
  Speaker 10: We went me and try went to the one in
• 58:37
  Speaker 10: Jersey last week, like your story, I was like, wow,
• 58:42
  Speaker 10: like this guy looks like us, Like there's no like said,
• 58:45
  Speaker 10: everybody really everybody up, because everybody has been a guest
• 58:48
  Speaker 10: on our show except the season n MV.
• 58:50
  Speaker 3: So y'are next, But yeah, mad, you know that's our
• 58:54
  Speaker 3: guys being all. You know, everybody's just good people and
• 58:58
  Speaker 3: like you said, everybody's just relatable.
• 59:01
  Speaker 5: Yeah, and the earth and everybody could like relay and
• 59:04
  Speaker 5: and you know what, it doesn't have to be necessarily
• 59:06
  Speaker 5: real estate investor. I mean there's like like Sabine, you know,
• 59:09
  Speaker 5: she's she's an attorney and she's a female ye so
• 59:12
  Speaker 5: female minority attorney.
• 59:15
  Speaker 3: That right there.
• 59:15
  Speaker 5: You know, that's something that somebody goes over there and
• 59:17
  Speaker 5: who knows who she's basically inspiring to be that because
• 59:21
  Speaker 5: that's not like a common thing.
• 59:23
  Speaker 3: Sabine, man, she's a bout a business. She's very knowledgeable.
• 59:26
  Speaker 5: So everyone that, you know, everyone that goes on stage
• 59:30
  Speaker 5: from like you know, the credit guy is like everyone
• 59:32
  Speaker 5: that goes up, they have their own little stories and
• 59:34
  Speaker 5: they have everybody. We all have like similar backgrounds where
• 59:36
  Speaker 5: we kind of like come from the city, come from nothing,
• 59:38
  Speaker 5: and you know, we're trying to like make it up,
• 59:40
  Speaker 5: and then we all want to kind of like help
• 59:41
  Speaker 5: help out and get back for sure.
• 59:43
  Speaker 3: Man the game man, We thank you, We thank you.
• 59:46
  Speaker 3: Before we wrap it up, Troy, can you can you
• 59:49
  Speaker 3: give them people some information? Yeah, So our Patreon is
• 59:53
  Speaker 3: moving well.
• 59:54
  Speaker 2: And a lot of people, you know, I'm realizing that
• 59:56
  Speaker 2: they don't have any idea with patreon it. So Patreon
• 59:58
  Speaker 2: is a way creatives to put out extra content and
• 1:00:02
  Speaker 2: come up with some ideas that can help. So what
• 1:00:05
  Speaker 2: we've been doing is putting out bonus content, putting out
• 1:00:07
  Speaker 2: the earlier the episodes.
• 1:00:09
  Speaker 3: A little bit earlier.
• 1:00:10
  Speaker 2: Our new features are going to be dropping before the summer,
• 1:00:13
  Speaker 2: My Hometown Hero series. We got a new campaign that's
• 1:00:16
  Speaker 2: coming on with that, and we had a great conversation
• 1:00:19
  Speaker 2: the other day with one of our patrons, and it
• 1:00:23
  Speaker 2: came to our mind that, you know what, why are
• 1:00:25
  Speaker 2: we giving them bonus content? So starting this week, we're
• 1:00:28
  Speaker 2: actually gonna start putting out unedited episodes. You're gonna see
• 1:00:31
  Speaker 2: everything behind the scenes in betweens because we have some
• 1:00:34
  Speaker 2: great conversations. I think she said, y'all holding content, y'all
• 1:00:38
  Speaker 2: holding content. I'm like, yeah, Well, we're putting it out
• 1:00:40
  Speaker 2: sporadically and if you check our YouTube you'll see some
• 1:00:43
  Speaker 2: of those those bonus content features. So the opportunities on
• 1:00:46
  Speaker 2: video with Matt was one. We have a hedge fund
• 1:00:49
  Speaker 2: one that we're gonna be putting out with Q. Shout
• 1:00:51
  Speaker 2: out Q, who did the stock market episode. So Patreon
• 1:00:56
  Speaker 2: dot com backslash ernial lesion.
• 1:00:58
  Speaker 3: We have five tiers. Feel free to join any tier
• 1:01:01
  Speaker 3: and it will tell you what you get at that tier.
• 1:01:03
  Speaker 3: And our season two is out, so be on the
• 1:01:06
  Speaker 3: lookout for that.
• 1:01:08
  Speaker 2: Our merch of our merch, so shout shout out to
• 1:01:10
  Speaker 2: Mic and the team for uh, you know, working deals
• 1:01:14
  Speaker 2: to put that out. We got our kid sizes now
• 1:01:17
  Speaker 2: we have some phone cases and some months, so yeah,
• 1:01:19
  Speaker 2: feel free to support that because everything helps, right, We're
• 1:01:22
  Speaker 2: not able to do what we do without ya'all, so
• 1:01:25
  Speaker 2: we appreciate that.
• 1:01:26
  Speaker 3: Uh yeah, definitely. In YouTube, make sure you subscribe to
• 1:01:29
  Speaker 3: our YouTube also because we're gonna put bonus content on
• 1:01:32
  Speaker 3: YouTube as well, and we're gonna have a lot of
• 1:01:34
  Speaker 3: different stuff that is not on the audio side of
• 1:01:37
  Speaker 3: the podcast. Make sure you still subscribe to iTunes too,
• 1:01:39
  Speaker 3: because we need to get the number one spot on iTunes. Yeah,
• 1:01:42
  Speaker 3: but also the YouTube. We're gonna have a lot of
• 1:01:45
  Speaker 3: different things that we have opportunity eson segment with Matt
• 1:01:48
  Speaker 3: that's only on YouTube, only available on YouTube. So we're
• 1:01:50
  Speaker 3: gonna start doing more stuff on YouTube, how to series
• 1:01:53
  Speaker 3: like how to Start an LLC, you know, stuff like that,
• 1:01:55
  Speaker 3: a little five seven minute clips on Youtube're gonna start
• 1:01:57
  Speaker 3: doing stuff like that. And uh actually said our merging
• 1:02:01
  Speaker 3: and also we are going to we did we did
• 1:02:03
  Speaker 3: a networking event in LA, which was crazy, so you know,
• 1:02:07
  Speaker 3: we gotta come home. We're gonna do it. We're gonna
• 1:02:09
  Speaker 3: do it big for the city. We're gonna do something
• 1:02:10
  Speaker 3: in New York City very soon. We will be releasing
• 1:02:14
  Speaker 3: the dates on our Instagram. Information on our Instagram, and
• 1:02:16
  Speaker 3: we want to have hopefully we can get all the
• 1:02:19
  Speaker 3: guests that we had so for an endo, welcome to
• 1:02:21
  Speaker 3: the Alumni Club. I let you know this thing, man,
• 1:02:24
  Speaker 3: you could come through. That'll be dope. So you'll be
• 1:02:26
  Speaker 3: able to meet the guests in person and you'll be
• 1:02:28
  Speaker 3: it is dope if you was if you saw the
• 1:02:30
  Speaker 3: video from l A's know anybody in LA. That's how
• 1:02:32
  Speaker 3: we're going. We're gonna do it, but it's gonna be
• 1:02:34
  Speaker 3: way bigger in New York because so where you're from.
• 1:02:36
  Speaker 5: So man, this is like what you guys got out here,
• 1:02:39
  Speaker 5: and it's pretty dope, man, because it's like, you know,
• 1:02:41
  Speaker 5: it's it's it's not just one one direction, like you know,
• 1:02:44
  Speaker 5: you guys have a little bit of everything. So it's
• 1:02:46
  Speaker 5: like anyone that needs to get inspired in different fields
• 1:02:49
  Speaker 5: kind of providing something financials and different fields exactly.
• 1:02:53
  Speaker 3: That's what it's all about, man, trying to give it
• 1:02:55
  Speaker 3: people as much information as possible and then from there
• 1:02:58
  Speaker 3: they can kind of pick and choose. Which is that
• 1:03:00
  Speaker 3: a lot what.
• 1:03:01
  Speaker 2: Drives that makes it because it's like literally everyone has
• 1:03:04
  Speaker 2: earned their legion, right, So like even on your board
• 1:03:06
  Speaker 2: in two thousand and forty twenty eleven, there was zero
• 1:03:09
  Speaker 2: right they didn't see that that that part that you
• 1:03:11
  Speaker 2: had to struggle and you had to figure out a way,
• 1:03:13
  Speaker 2: but you never give up, right, So everything you have
• 1:03:15
  Speaker 2: now like.
• 1:03:16
  Speaker 3: You've earned you literally earned the freedom.
• 1:03:18
  Speaker 7: Yeah, definitely, And then you know that was also a
• 1:03:20
  Speaker 7: big part of that was also feared.
• 1:03:21
  Speaker 3: M M.
• 1:03:22
  Speaker 5: It's like you know, you us because it's like you
• 1:03:24
  Speaker 5: scared to fail, and it's like what's gonna happen if
• 1:03:25
  Speaker 5: I fail.
• 1:03:26
  Speaker 3: So it's like, you know, there's like a lot of
• 1:03:27
  Speaker 3: hold back too. So I also think that too.
• 1:03:29
  Speaker 7: When my daughter was born twenty thirteen, that kind of
• 1:03:31
  Speaker 7: like pushed me to because.
• 1:03:32
  Speaker 5: The following year, that's when I was able to do
• 1:03:34
  Speaker 5: multiple deals at the same time. I put in my
• 1:03:35
  Speaker 5: head like yo, I got them, like yeah, somebody doing.
• 1:03:39
  Speaker 3: Like you know what I'm saying. I was still in
• 1:03:40
  Speaker 3: the hood.
• 1:03:41
  Speaker 5: I was like, I can't know, I grew up in
• 1:03:42
  Speaker 5: the hood, and I was like dreams of like kind
• 1:03:45
  Speaker 5: of like moving out and like, you know, like.
• 1:03:47
  Speaker 3: Living in American dream basically. So it's kind of like I.
• 1:03:49
  Speaker 7: Wanted to push it, you know, and then make sure that,
• 1:03:51
  Speaker 7: you know, financially that we were all good, you know, and.
• 1:03:54
  Speaker 3: You know, she helped me out. So yeah, you change,
• 1:03:56
  Speaker 3: you are changing the narrative of what the American dream is. Yeah, definitely.
• 1:03:59
  Speaker 3: Now you're already America and dream dream and so yeah,
• 1:04:03
  Speaker 3: before we leave, I have a book tip that I
• 1:04:04
  Speaker 3: always say. My book tip this week is Nelson and
• 1:04:07
  Speaker 3: Della's biography. It's called A Long Walks of Freedom, and
• 1:04:12
  Speaker 3: it's a really good book. It outlies his story, you know,
• 1:04:15
  Speaker 3: as far as doing I think thirty years in jail,
• 1:04:19
  Speaker 3: thirty years in jail and coming out and it's dope.
• 1:04:22
  Speaker 3: It's really inspirational and it's a dope book. So I
• 1:04:25
  Speaker 3: highly recommend anybody read that, no matter what you're interested in,
• 1:04:30
  Speaker 3: because everybody can get some inspiration from that book. So
• 1:04:33
  Speaker 3: that is it E Y L twenty in the books.
• 1:04:36
  Speaker 3: Thank you for your support. We'll see you next week. Thanks.
• 1:05:05
  Speaker 11: An illegal alien from Guatemala charged with raping a child
• 1:05:08
  Speaker 11: in Massachusetts. An MS thirteen gang member from Al Salvador
• 1:05:12
  Speaker 11: accused of murdering a Texas man of Venezuelan charged with
• 1:05:17
  Speaker 11: filming and selling child pornography in Michigan. These are just
• 1:05:21
  Speaker 11: some of the heinous migrant criminals caught because of President
• 1:05:24
  Speaker 11: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 1:05:28
  Speaker 11: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 1:05:33
  Speaker 11: crossings are at the lowest levels ever recorded, and over
• 1:05:37
  Speaker 11: one hundred thousand illegal aliens have been arrested. If you
• 1:05:40
  Speaker 11: are here illegally, your next you will be fined nearly
• 1:05:44
  Speaker 11: one thousand dollars a day, imprisoned.
• 1:05:46
  Speaker 1: And deported.
• 1:05:47
  Speaker 11: You will never return but if you register using our
• 1:05:51
  Speaker 11: CBP home app and leave now, you could be allowed
• 1:05:54
  Speaker 11: to return legally. Do what's right, leave now. Under President
• 1:05:58
  Speaker 11: Trump America's laws, border and families will be protected.
• 1:06:03
  Speaker 3: Sponsored by the United States Department of Homeland Security,