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How AI & China Can Save You Thousands in Real Estate Development · Earn Your Leisure

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  Speaker 1: This episode is brought to you by P and C Bank.
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  Speaker 1: A lot of people think podcasts about work are boring,
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• 0:43
  Speaker 2: I don't know what the hell is going on with
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  Speaker 2: some of these quotes that people will give you on
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  Speaker 2: certain projects, but you really have to shop contractors right
• 0:50
  Speaker 2: now because some people are just adding tax on type
• 0:53
  Speaker 2: of tax on type of tax just because they think
• 0:55
  Speaker 2: Trump is going to add the tax, or they're adding
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  Speaker 2: it right now before us even in play. So get
• 1:01
  Speaker 2: three or four quotes and do not be afraid to negotiate.
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  Speaker 2: You have to negotiate everything, and you have to use
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  Speaker 2: tools like AI, like, I know one thing that I
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  Speaker 2: do when I get a quote, now, I upload that
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  Speaker 2: quote into my chat EVT.
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  Speaker 3: Yeah, I've done. I did that before I did that
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  Speaker 3: the water water uh bacent thing and I detailed the
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  Speaker 3: whole thing, and I said, I gave it the chant.
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  Speaker 3: I'm like, how do you feeling that? It gave me
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  Speaker 3: an estimate of what it should it should be on
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  Speaker 3: the low end, on on average, yep, and on high.
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  Speaker 2: It tells you everything and if you're in the more
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  Speaker 2: details you put into it, the better if you and
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  Speaker 2: even if you put pictures like what I've done, I'll
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  Speaker 2: put pictures of like what I'm looking to do and
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  Speaker 2: really break it down, and then it will give you,
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  Speaker 2: like Rashad said, low, high, middle, and then also asks hop, okay,
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  Speaker 2: who are the companies in this area that I should
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  Speaker 2: be talking to? And they will give you, give me
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  Speaker 2: the top ten companies right that got the best reviews,
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  Speaker 2: you know, et cetera, et cetera, and then it'll give
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  Speaker 2: you all these companies right. So you have to use
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  Speaker 2: the AI and the technology that's out here available to
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  Speaker 2: help you do your due diligence, to help you research,
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  Speaker 2: because let's face it, we don't know everything, like I
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  Speaker 2: don't know everything about construction, So I got to use
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  Speaker 2: the tools that's in front of me to get the information.
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  Speaker 2: So now when I'm when I'm interviewing these contractors, I
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  Speaker 2: can have an intelligent conversation because I already have my
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  Speaker 2: questions already pre written, so to speak with that information.
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  Speaker 2: So the due diligence process, especially in twenty twenty five
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  Speaker 2: point into twenty twenty six, with all this volatility in
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  Speaker 2: the market, you have to you have to really dig deep.
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  Speaker 2: And that's why I'm really excited to hear you talk
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  Speaker 2: about China because I've been speaking to the China people.
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  Speaker 2: Rashad and I had a call last night, matter of fact,
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  Speaker 2: with Blair, and the prices are just absolutely phenomenal. Some
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  Speaker 2: of the shit that they are telling me right now,
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  Speaker 2: I have deposit asap, like let's go right now because
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  Speaker 2: this is incredible. So but that's later on the show.
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  Speaker 2: But I had to do that in there. But you
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  Speaker 2: have to do your due dealer jends and you might
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  Speaker 2: have to do with y'all than to fly out the
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  Speaker 2: country to go check out thanks for yourself to get
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  Speaker 2: better pricing.
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  Speaker 1: Or maybe you could just watch what he's done.
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  Speaker 3: He did it for you.
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  Speaker 2: My notifications are on.
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  Speaker 1: I don't know about y'all, like community service.
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  Speaker 2: Like this is like first of a kudos to you
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  Speaker 2: with Sea, but that because when you told us about this,
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  Speaker 2: like what was this like in the April, we had
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  Speaker 2: that call, you say, yo, I'm going to China for this,
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  Speaker 2: that and the third and I was like, all right,
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  Speaker 2: this is gonna sound good. Time the tie he's gonna
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  Speaker 2: document it.
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  Speaker 3: Shout out.
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  Speaker 2: Y'all, shot the time.
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  Speaker 3: He did a great job. Well you know the thing
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  Speaker 3: about it too, because you brought it up. I think people, okay,
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  Speaker 3: there's two people that can benefit from this China play.
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  Speaker 3: People that are building a home, furnishing a home, but
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  Speaker 3: then also real estate developers like if you if you're
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  Speaker 3: in the if you are a real estate developer. One
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  Speaker 3: of our friends that's actually developing real estate, he's going
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  Speaker 3: out there today. I think if you're a real estate developer,
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  Speaker 3: I think you really need to tie in with this
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  Speaker 3: because depending on what type of development you're doing, you
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  Speaker 3: can you can get mass items for cheaper like and
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  Speaker 3: that's important because you got to figure if you if
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  Speaker 3: you're developing let's say a sub unit and you're building
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  Speaker 3: you know, six homes, right, and you got to put
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  Speaker 3: in six kitchens into those homes. So you might want
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  Speaker 3: to just do the basic kitchen like you know from
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  Speaker 3: home depot. But depending on what neighborhood you you're building
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  Speaker 3: a home, and that might not necessarily fly or that
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  Speaker 3: might lower the value of the home. Right, you might
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  Speaker 3: have to go a little bit higher in on your
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  Speaker 3: on your kitchen. But if you go you know, like
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  Speaker 3: the kitchen is probably going to be one of the
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  Speaker 3: most expensive items in the house, kitchen in the bathroom. Right,
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  Speaker 3: So you've saved let's say you save thirty forty fifty
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  Speaker 3: percent times that times five, you're going to have a
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  Speaker 3: substantial savings. What does that do? That adds more profit
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  Speaker 3: to you? The more money you say, because you can
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  Speaker 3: still charge the same amount of money for the house. Right,
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  Speaker 3: It's like you haven't compromised the quality of the home.
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  Speaker 3: So if you if you're like, I probably saved three
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  Speaker 3: hundred thousand dollars, right, but I'm I'm a home I'm
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  Speaker 3: just a home owner. If I'm a home developer, now
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  Speaker 3: times that times six seven, But then I'm still selling
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  Speaker 3: at market rate. So now you just made yourself two
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  Speaker 3: million dollars by executing smartly right, So and it's maybe
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  Speaker 3: it's something that we can talk about and invest fest.
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  Speaker 3: Let us know in chat, let us know and chat
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  Speaker 3: if you're interested in it and having a panel about
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  Speaker 3: the whole China player in its entirety, and invest fast
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  Speaker 3: because I being a lot of d MS and a
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  Speaker 3: lot of people you know, been following the journey. So
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  Speaker 3: you know, maybe that's something that we can really add
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  Speaker 3: to the investments portfolio per se. But I do think
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  Speaker 3: that you can death and you don't have to go
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  Speaker 3: out there like even you like you know what I'm saying,
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  Speaker 3: Like you you're talking to like that's the good thing,
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  Speaker 3: but you got to know you gotta work with somebody
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  Speaker 3: already there because they're not all the same. That's important
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  Speaker 3: for people to know, Like you just can't show up
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  Speaker 3: in China and just be like I'm here. You can
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  Speaker 3: you technically can because it's like you know, the area
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  Speaker 3: of Foolshrong that that's manufacturing heaven and they do everything
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  Speaker 3: from clothes to hair bundles, press on nails, anything that
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  Speaker 3: you think of they manufacture. So you can go electronics,
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  Speaker 3: you can go and just Stumble and you can get
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  Speaker 3: still probably a better price than you're paying in America.
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  Speaker 3: But if you really really want to get like because
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  Speaker 3: each like, for instance, my kitchen and in closet, I
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  Speaker 3: want to restore that specializes in just kitchens and closets, right,
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  Speaker 3: and the prices was so good. I asked them if
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  Speaker 3: they could do everything, but they're like, we really can't
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  Speaker 3: because we only specialize in kitchens and closets. So I
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  Speaker 3: went to like six different stores to put it all together.
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  Speaker 3: But it's worth it, but you got to have somebody
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  Speaker 3: to kind of walk you through that process, right, Like
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  Speaker 3: you can't just do that on your own because you
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  Speaker 3: it's kind of hard logistically to go to six different places, I.
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  Speaker 1: Think even from the standpoint and you kind of mentioned
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  Speaker 1: it in the video, but you start to think when
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  Speaker 1: you're building commercial spaces or you're building hotels, like they've
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  Speaker 1: been doing it all the time, and the difference is
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  Speaker 1: that they get to charge you every night. Yeah, so
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  Speaker 1: the long term pay obviously if you're building a subdivision,
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  Speaker 1: those are those are homes, but at the hotel, play like,
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  Speaker 1: that's a nightly income that's coming in, especially if you've
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  Speaker 1: gotten the things manufactured in bolt. Whether it's the night
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  Speaker 1: stand or it's the headboard for the beds, every room
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  Speaker 1: pretty much is the same unless you get a specialized suite.
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  Speaker 1: These things come in bulk and now you're looking at
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  Speaker 1: it like, wait, they've made savings on the actual building
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  Speaker 1: of the hotel or wherever the commercial space is, and
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  Speaker 1: now they charging you every night. So the long term
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