Latest / Social Proof Podcast / This “Boring” Real Estate Strategy Is Making People Rich | Social Proof Podcast | Charles Noonan

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This “Boring” Real Estate Strategy Is Making People Rich | Social Proof Podcast | Charles Noonan · Social Proof Podcast

0:02
[SPEAKER_00]: Welcome to another edition of the social proof podcast man.
0:05
[SPEAKER_00]: We are here to build wealth and be successful entrepreneurs.
0:09
[SPEAKER_00]: We're sitting here with another entrepreneur that I really really respect for what he's doing.
0:14
[SPEAKER_00]: uh... in the wealth building conversation we have mr. Charles known it was no stranger to the social property as whatever let's go how are you man i'm blessed bruh yeah i'm blessed are you me to blast man look first off you got an event coming up which who we events are tough right and i don't i don't think people understand the love and passion
0:40
[SPEAKER_00]: that an entrepreneur has to have to put on an event to push it, promote it, build it out, knowing, knowing.
0:51
[SPEAKER_00]: that there's better ways to make money.
0:53
[SPEAKER_00]: But you want to bring people in person and serve people.
0:56
[SPEAKER_00]: I don't think we get enough credit for that.
0:58
[SPEAKER_01]: Yeah, you're right.
1:00
[SPEAKER_01]: It's really about serving people.
1:02
[SPEAKER_01]: And at this time, where I think events are being a starting to be a lot more popular again, people don't realize how much goes into it.
1:11
[SPEAKER_01]: they don't realize like the person and I heard Donnie say this the other day, the person that's checking people in is staff that's paid from people organizing, the seating, arranging everything like everything that's planned out, cost money.
1:30
[SPEAKER_01]: I hear you say like you spent six figures on several events and I didn't understand it at first
1:39
[SPEAKER_01]: But as this is my second time around, I'm like, oh, yeah, I see what David's talking about, and people don't realize it's even though it's a ticket event.
1:48
[SPEAKER_01]: It's a huge gift back.
1:49
[SPEAKER_00]: Yeah.
1:50
[SPEAKER_01]: It's not like you're gonna make a ton of money from it.
1:53
[SPEAKER_01]: It's really for the people that attend to you, Ben.
1:57
[SPEAKER_00]: 100% yeah, absolutely.
1:59
[SPEAKER_00]: So you're in September, what?
2:02
[SPEAKER_01]: September 18th and 19th and Birmingham, Alabama.
2:05
[SPEAKER_01]: It's called, that's build Birmingham.
2:07
[SPEAKER_00]: Let's build Birmingham.
2:08
[SPEAKER_00]: You live in Birmingham?
2:09
[SPEAKER_01]: No man, I'm New York, and of course I got a spot in Miami now, just to kind of like continue to be outside and be healthy during the winter months in New York.
2:22
[SPEAKER_00]: So why let's build Birmingham, you're not from there.
2:24
[SPEAKER_01]: Birmingham is a couple of reasons.
2:27
[SPEAKER_01]: One, it's one of the easiest cities to build houses from.
2:32
[SPEAKER_01]: They have the infrastructure to support it.
2:35
[SPEAKER_01]: Like building houses in Birmingham, I'm on my seventh house right now.
2:38
[SPEAKER_01]: Six are mine and I've built five, four, team members of mine, but the infrastructure is there.
2:45
[SPEAKER_01]: When you want to turn the water on, it happens in the day.
2:48
[SPEAKER_01]: When we want to get the electric turned on as we're building,
2:52
[SPEAKER_01]: they come out the same day.
2:53
[SPEAKER_01]: Permits and inspections, everything is done the same day.
2:56
[SPEAKER_01]: Birmingham is a city that's ripe for the taking for our people to build and own.
3:04
[SPEAKER_01]: It's still extremely heavily populated by African Americans.
3:09
[SPEAKER_01]: And I think it's a city we need to take back.
3:12
[SPEAKER_00]: So, what's your portfolio look like?
3:13
[SPEAKER_00]: I mean, it's just six houses.
3:15
[SPEAKER_00]: What's your personal portfolio?
3:16
[SPEAKER_01]: So, I own 300 pieces of land in Birmingham.
3:20
[SPEAKER_01]: Dang.
3:21
[SPEAKER_00]: Yeah.
3:21
[SPEAKER_01]: Well, so, yes, yes, wow, fact, they're however, I bought a lot of them under $1,000.
3:27
[SPEAKER_01]: So, yeah, I own a large portion of Alabama, but there's some websites that we go to where you can buy them under $1,000.
3:35
[SPEAKER_00]: How do you buy a land for the first time?
3:41
[SPEAKER_01]: Well, Alabama Department of Revenue is the website and where individuals don't pay their taxes, the property defaults to the Alabama Department of Revenue, and you can just buy them from there.
3:56
[SPEAKER_01]: So I went in and I do buy part, buy property from the land bank as well, Birmingham, land bank as well.
4:03
[SPEAKER_01]: I'm a designated developer with the city of Birmingham.
4:06
[SPEAKER_01]: I work pretty closely with the mayor there.
4:09
[SPEAKER_01]: He supports building in his city, of course, but big supporter of the event as well.
4:15
[SPEAKER_01]: And as properties are vacant, they get taken by the city for like not being upcap properly, they're able to be sold at the Alabama Department of Revenue.
4:29
[SPEAKER_00]: You just go to the website and buy land like this.
4:34
[SPEAKER_01]: Yes, it's a process, though.
4:35
[SPEAKER_01]: So you have to evaluate it, right?
4:37
[SPEAKER_01]: You don't just buy any piece of land.
4:39
[SPEAKER_01]: You have to know how to buy it, how to pick it.
4:42
[SPEAKER_01]: And so we teach how you pick purchase profit and protect land in a cross-to-country.
4:49
[SPEAKER_01]: But my focus because of the infrastructure is Birmingham, Alabama.
4:54
[SPEAKER_00]: Got it.
4:54
[SPEAKER_00]: Okay, so you own over 300 pieces of land and you're building them all or are you holding themselves?
5:03
[SPEAKER_01]: Well, long term, I hold.
5:06
[SPEAKER_01]: I do sell some for profit, right?
5:08
[SPEAKER_01]: So land.com is one of the websites we use to sell land.
5:12
[SPEAKER_01]: Land.com is like the Zillot or truly a for land.
5:16
[SPEAKER_01]: And that is like the number one website where you can just buy land and resell it, but I hold a lot.
5:21
[SPEAKER_01]: I build a lot and I'm of the seven houses.
5:24
[SPEAKER_01]: I built two of them are I use them for unlicensed group homes and it was fairly easy.
5:30
[SPEAKER_01]: I just went to the veterans hospital told them that we have beds available and they sent veterans there.
5:38
[SPEAKER_01]: So two homes.
5:38
[SPEAKER_00]: I have veterans and you bought the land then built a building houses.
5:45
[SPEAKER_00]: They you built group homes.
5:48
[SPEAKER_01]: Yeah, unlicensed group homes.
5:49
[SPEAKER_01]: So it's not the typical group home.
5:51
[SPEAKER_01]: Let's just say that Can hold our house individuals with development to disability?
5:57
[SPEAKER_01]: It's not like a licensed group home We call it a group home because of the population that we serve and they're unrelated people So they're at veterans that needed places places to stay but what's the difference with unlicensed and licensed?
6:12
[SPEAKER_01]: Well, license, you have to be licensed by the state.
6:14
[SPEAKER_01]: You can house more people inside the home, so you can put maybe two in a room.
6:20
[SPEAKER_01]: And then you have to have staff that have serviced them.
6:23
[SPEAKER_01]: So, unlicensed can house, like, independent individuals that don't need any assistance living.
6:30
[SPEAKER_01]: And they're just individuals that were, like, displaced.
6:33
[SPEAKER_01]: So they came home, came back home, their veterans of serving our country.
6:38
[SPEAKER_01]: And they needed a place to stay.
6:40
[SPEAKER_00]: Wow.
6:41
[SPEAKER_00]: Okay.
6:42
[SPEAKER_00]: All right.
6:42
[SPEAKER_00]: So you invest in land primarily Birmingham, right?
6:47
[SPEAKER_00]: Do you invest other places too?
6:49
[SPEAKER_01]: Yeah.
6:49
[SPEAKER_01]: So I have land in Pennsylvania.
6:53
[SPEAKER_01]: Probably every quarter I take a group of people to the auction through my mentorship program and teach them how to buy land.
7:00
[SPEAKER_01]: I go with them, which is so funny, when I go, they have so much confidence and they buy so much and they feel so good about it.
7:08
[SPEAKER_01]: If I don't go if I miss an auction, like the results come back with a boy like one or two pieces of land each, but when I go, it's like four or five six pieces of land.
7:17
[SPEAKER_01]: And that's just like a Wayne County auction, which is a public auction that people can go to to buy land as well.
7:23
[SPEAKER_00]: Got it.
7:24
[SPEAKER_00]: All right, so I want to, I know it's important to buy real estate, but there are conversations.
7:32
[SPEAKER_00]: My sister, Terica, was up here in Lyat, Terica.
7:37
[SPEAKER_00]: I'm in Ramel, Smitty, and we were talking about the value in buying real estate.
7:42
[SPEAKER_01]: Yeah.
7:44
[SPEAKER_00]: And we are in a day and age where there is a conversation around why it's not a good investment to a high real estate and I want to know what your thoughts are.
7:57
[SPEAKER_01]: So I love that conversation and I love that way where having a lot of dialogue about it.
8:04
[SPEAKER_01]: I teach buying land, which is the least risky
8:08
[SPEAKER_01]: asset class of real estate.
8:10
[SPEAKER_01]: In the sense that you buy it for under a thousand, let's just say $2,000 for the most part.
8:16
[SPEAKER_01]: You own it, right?
8:18
[SPEAKER_01]: Land, you cannot write off when your tax is when you buy it, because it does not depreciate.
8:24
[SPEAKER_01]: So what happens is, I think a lot of conversation about real estate, we were taught,
8:31
[SPEAKER_01]: to kind of like getting the game and do this thing called value add.
8:34
[SPEAKER_01]: When you buy your property, you add value to it.
8:37
[SPEAKER_01]: You take your money out, the burst strategy, and then you flip it.
8:40
[SPEAKER_01]: And a lot of people got caught up in all the complications around that.
8:44
[SPEAKER_01]: And that's how they lost a lot of money.
8:46
[SPEAKER_01]: So Ramell, good friend of mine, we support each other.
8:49
[SPEAKER_01]: We both live close, not, you know, in the up north together.
8:55
[SPEAKER_01]: I think his issue,
8:57
[SPEAKER_01]: He got in the game and purchased a lot of houses and tried to do that strategy.
9:03
[SPEAKER_01]: Got caught and probably some tenant landlord issues, some landlord tenant issues, some repair issues.
9:09
[SPEAKER_01]: With land, you don't have those.
9:11
[SPEAKER_01]: You literally don't have to do anything to the land that you buy.
9:15
[SPEAKER_01]: You may have to maintain it based on where it is.
9:19
[SPEAKER_01]: You know, through weeds growing things like that.
9:21
[SPEAKER_01]: But for the most part, there's very little to do.
9:24
[SPEAKER_01]: It doesn't depreciate.
9:25
[SPEAKER_01]: You can sell it for a market value.
9:29
[SPEAKER_01]: So we buy it at land banks.
9:30
[SPEAKER_01]: We buy land from tax auctions, repository sales.
9:34
[SPEAKER_01]: And then we can sell it on land.com for what the market value is.
9:39
[SPEAKER_01]: So we buy it really low.
9:40
[SPEAKER_01]: We can sell it there.
9:42
[SPEAKER_01]: From a building perspective, this is the least risky way of being in real estate.
9:47
[SPEAKER_01]: And I'll tell you why.
9:49
[SPEAKER_01]: When you build a house,
9:52
[SPEAKER_01]: from the ground up, you only pay your contractors after they've completed the portion that they're being paid for and it gets inspected by a city official.
10:04
[SPEAKER_01]: So you can never get ripped off building a house.
10:07
[SPEAKER_01]: Or if you do, it's only for a very small section.
10:10
[SPEAKER_01]: So if you're doing like the footing for the house, you're doing the foundation.
10:14
[SPEAKER_01]: That stuff has to get passed by an inspector, then it gets paid for.
10:18
[SPEAKER_01]: So you won't get ripped off when building from the ground up.
10:22
[SPEAKER_01]: Same thing as the framing, the windows, the carpentry, it's super safe, it's the safest way to go.
10:29
[SPEAKER_01]: And then the, the, the, the, the, the, the, the, the, the, yeah, it's just though.
10:32
[SPEAKER_00]: So from what I hear building a house is the most,
10:41
[SPEAKER_00]: the most frustrating process in the world.
10:45
[SPEAKER_00]: Because building, building, bra, okay.
10:48
[SPEAKER_00]: Because, I mean, you have the blueprint, you have the specs, but the F human beings, which is your contractor, right?
10:54
[SPEAKER_00]: Where obviously time is money.
10:57
[SPEAKER_00]: So if your contractors aren't on that site every single day, or something is off, because things can be off,
11:11
[SPEAKER_00]: you got to go back and fix it.
11:13
[SPEAKER_00]: And I've seen that a lot.
11:15
[SPEAKER_01]: So here's why it's different.
11:18
[SPEAKER_01]: And fix and flips.
11:20
[SPEAKER_01]: Contractors will typically take a deposit upfront.
11:24
[SPEAKER_01]: They have to take what like, let's just say they're doing a roof.
11:28
[SPEAKER_01]: So where a lot of the conversation with, really they say real estate sucks, right?
11:32
[SPEAKER_01]: They estimate a repair or the renovation of a property.
11:35
[SPEAKER_01]: Then when the contract is really going to do the work,
11:38
[SPEAKER_01]: They have to take it apart.
11:40
[SPEAKER_01]: They have to put it back together.
11:42
[SPEAKER_01]: They take a deposit up front to start.
11:44
[SPEAKER_01]: When you build, you don't do that.
11:46
[SPEAKER_01]: They do the work first.
11:48
[SPEAKER_01]: It has to pass inspection and then you pay.
11:52
[SPEAKER_01]: So even if something has to be done over, they're just doing it one time from the beginning.
11:58
[SPEAKER_01]: So the electrician is going in and he's he's wiring a house, but it's just the framing that he has to go wire.
12:06
[SPEAKER_01]: He doesn't have to take anything down to do it over.
12:09
[SPEAKER_01]: Now where I think building
12:11
[SPEAKER_01]: where I believe you may have heard building a house from the ground up is frustrating and difficult.
12:16
[SPEAKER_01]: It may be change orders.
12:18
[SPEAKER_01]: So when people are building and they say, I, no, no, no, I wanted this wall to be over here because I wanted more room for something.
12:27
[SPEAKER_01]: That they may have to take down and do back over.
12:29
[SPEAKER_01]: But when you're building as a developer, everything just gets done one time.
12:36
[SPEAKER_01]: the challenge that I go through as a developer is really coordinating schedules.
12:42
[SPEAKER_01]: So the concrete guys have to come in and pour after we dig the footing, but do the weather, they have to kind of, it has to be done
12:52
[SPEAKER_01]: to where the weather doesn't sacrifice the footing.
12:55
[SPEAKER_01]: It has to be poured out of a certain time.
12:57
[SPEAKER_01]: The framing has to be done, and the roofing has to be done.
13:01
[SPEAKER_01]: The windows and doors have to be done at a certain time.
13:04
[SPEAKER_01]: Those could be different trades.
13:06
[SPEAKER_01]: The electrician now that the house is a shell has to go in and wire that H-back guy has to do his duck work.
13:14
[SPEAKER_01]: And the plumber has to get in.
13:15
[SPEAKER_01]: So we have to coordinate those guys.
13:18
[SPEAKER_01]: They all have to pass inspection before they get paid.
13:21
[SPEAKER_01]: and before we could start to close up the walls.
13:24
[SPEAKER_01]: So it's really, I believe the only challenge in building a house is coordinating the different trades, making sure that they don't get in each other's way, but you cannot lose building a house.
13:37
[SPEAKER_01]: And when you think about it,
13:39
[SPEAKER_01]: Often times we see houses that are being renovated that get not finished and left.
13:45
[SPEAKER_01]: But we never see a house that's being built from the ground up and complete.
13:49
[SPEAKER_01]: And you just see framing for like three months.
13:52
[SPEAKER_01]: You never see that.
13:53
[SPEAKER_01]: It doesn't happen because it's layered and it's all a safe investment.
13:58
[SPEAKER_01]: Got it, okay.
13:59
[SPEAKER_01]: And then here's the best part.
14:01
[SPEAKER_01]: The best part is when you're building you're only paying labor and materials.
14:05
[SPEAKER_01]: So the profit margins in building are so much higher.
14:09
[SPEAKER_01]: So a new house, let's just say a $500,000 or $500,000 house anywhere in the state of Georgia.
14:16
[SPEAKER_01]: doesn't cost 500,000 dollars.
14:18
[SPEAKER_01]: It most likely costs somewhere between 350 and 400,000.
14:22
[SPEAKER_01]: So the profit margins are there.
14:25
[SPEAKER_01]: And when I think Terracat, Smitty, and Ramell had that conversation, I think Terracat was real solid and saying like her bricks, they don't negotiate.
14:36
[SPEAKER_01]: She used the word her bricks.
14:38
[SPEAKER_01]: And that building, she's at a different level in development, which is development.
14:44
[SPEAKER_01]: Right, it's very different from fix and flips.
14:46
[SPEAKER_01]: Yeah, it's ground up development.
14:48
[SPEAKER_01]: That's the safest and best way to do real estate anywhere.
14:51
[SPEAKER_00]: Yeah, oh man, it's a journey.
14:55
[SPEAKER_00]: So I've been built from, well, me and Sarah have a property actually in the doorville which we learned a lot through this process.
15:03
[SPEAKER_00]: So we are going, we're going to start building in the second.
15:06
[SPEAKER_00]: But there's a lot to real estate.
15:10
[SPEAKER_01]: Yeah.
15:10
[SPEAKER_00]: But also, there's a lot to anything you want to do as an entrepreneur to build income, but the coolest thing that I think about real estate is the long-term benefit.
15:22
[SPEAKER_00]: And I think people can't see long-term.
15:24
[SPEAKER_00]: It's like, okay, I could put $1,000 into this land and it's going to sit there until either sell it or develop it, right?
15:34
[SPEAKER_00]: The digital marketer says, I could put $1,000 into this product, or I could put $1,000 into promotion.
15:41
[SPEAKER_00]: I might get that back this week.
15:43
[SPEAKER_01]: Right.
15:44
[SPEAKER_00]: How do you teach people how to delay that gratification instead of getting it right now?
15:52
[SPEAKER_01]: Well, the times now are changing.
15:54
[SPEAKER_01]: there are articles and Donald Trump just signed an executive order to stop Wall Street from buying single-family houses.
16:05
[SPEAKER_01]: So there's a sense of urgency that we have to have for ownership, right?
16:11
[SPEAKER_01]: we have to own where we live.
16:14
[SPEAKER_01]: We can't get stock or caught into this renters market.
16:18
[SPEAKER_01]: So Wall Street was looking to buy neighborhoods every available property in specific neighborhoods and just make it a renters market where you couldn't buy.
16:27
[SPEAKER_01]: So I take the initiative to teach people that we have to own our homes.
16:33
[SPEAKER_01]: We have to own real estate.
16:35
[SPEAKER_01]: Ownership is extremely important because of things like that.
16:39
[SPEAKER_01]: So when you think about Uber and Lyft from the ride share perspective, if they wanna turn the dial up and now make a ride from here to the airport, $200, there's not much we can do about it.
16:53
[SPEAKER_01]: or his where they do it at concerts or major events you get an Uber from here to the convention center it might be $20 but if they're coming back might be $60 because the demand is so high and they're just turning the dial up.
17:08
[SPEAKER_01]: So just imagine in a renters market and a housing market if they controlled all the houses in North Carolina or they controlled all the houses in
17:19
[SPEAKER_01]: to live here, you have to pay the rent that the major companies want you to pay then when they wanted to turn the dial up they could.
17:27
[SPEAKER_01]: That's good.
17:28
[SPEAKER_01]: Ownership is key.
17:29
[SPEAKER_01]: And then here's what's another thing that was really important.
17:33
[SPEAKER_01]: Here's another thing really important, Dave.
17:36
[SPEAKER_01]: We are now in a new space with AI that we've never seen before, right?
17:43
[SPEAKER_01]: We don't know what's come.
17:44
[SPEAKER_01]: Everything's moving super fast, right?
17:48
[SPEAKER_01]: There's loveable.
17:49
[SPEAKER_01]: There's like 20 that we just all adapted to trying to be fast and it changed.
17:55
[SPEAKER_01]: People are losing jobs every day, right?
17:59
[SPEAKER_01]: You don't know what tomorrow is going to bring.
18:03
[SPEAKER_01]: We have to be in a position where we own, where we live, but land is so inexpensive.
18:09
[SPEAKER_01]: We could actually buy enough of it so that we can own land for where we live, right?
18:15
[SPEAKER_01]: Our kids can have land for them as well to where we don't necessarily have to play in that competitive job market to sustain a normal, healthy lifestyle.
18:27
[SPEAKER_00]: Yeah, I've seen a lot of people, even like wealthy people that are saying, don't buy a house, but it does make sense to buy a house because of all the obvious reasons.
18:41
[SPEAKER_00]: Well, if the AC goes out, who's going to fix it?
18:46
[SPEAKER_00]: You never really own your house because you will always have to pay taxes.
18:53
[SPEAKER_00]: And, you know, kind of like maintenance and things that I nature.
18:55
[SPEAKER_00]: So I'm sure you hear that, right?
18:58
[SPEAKER_00]: Where do I want you to understand where they're coming from, explain it, and then give me your response?
19:06
[SPEAKER_01]: So I don't agree with that.
19:07
[SPEAKER_01]: And I think most, I don't even, I believe most wealthy people own their house.
19:12
[SPEAKER_01]: I also believe most wealthy people own their house and pay it off, they own it debt-free.
19:18
[SPEAKER_01]: I think that's the biggest investment that the most intelligent investment that anybody can make who has a family that cares about their children.
19:26
[SPEAKER_00]: Before we get there, I want you to understand why someone's brain would say that.
19:32
[SPEAKER_00]: or why there's this trend like so yeah there's me able to say I don't need it on a car which I get it I mean at some point you could buy a car a few years you could pay it off and then you have that car and you know got to pay no car no all you got to pay insurance and yes right but there's some people of the thought process like how least forever or I won't buy car at all and I'll just over everywhere so but real estate I want you to
20:04
[SPEAKER_01]: So we'll take Grant Cardone, right?
20:08
[SPEAKER_01]: Have you heard him say, don't own your house for this?
20:11
[SPEAKER_01]: Yes, so for him, I think he says that because it is a depreciating asset, not a depreciating asset, from the perspective of, like you said, maintenance on it.
20:26
[SPEAKER_01]: You have the paper pairs.
20:28
[SPEAKER_01]: It does get older, so it will require more repairs.
20:33
[SPEAKER_01]: The mortgage and the interest you do have to pay.
20:39
[SPEAKER_01]: I think you lose mobility and owning a house, but in my situation,
20:44
[SPEAKER_01]: I just bought a nut like if I wanted to be in Miami, I just bought another house, but I'm always going to have a home where I like there's always going to be a home that's paid off and I think that's important to me because if like I grew up in grandma's house my family had my immediate family had hard times we have like a place to go where we could fall back on.
21:09
[SPEAKER_01]: Funny enough my uncle my cousins and uncle had the same issue.
21:13
[SPEAKER_01]: They had to come back to grandpa's house So it's 13 of us in the three bedroom.
21:17
[SPEAKER_01]: Wow, but so I always gonna see value, but I believe what what he's saying You know, I really don't understand why I can't walk through I have children right like we need a home
21:32
[SPEAKER_01]: being a forever renter is a concept that I haven't I don't understand and I haven't adapted to.
21:39
[SPEAKER_01]: So I really can't speak to that.
21:41
[SPEAKER_01]: I don't know why.
21:42
[SPEAKER_01]: I don't know why you wouldn't want to own.
21:44
[SPEAKER_01]: Yes, you you could pay the mortgage off and you have taxes which is fine.
21:49
[SPEAKER_01]: Like you have to understand and believe in a tax system, which I do.
21:54
[SPEAKER_01]: So I don't understand why they would say that.
21:57
[SPEAKER_01]: It just doesn't resonate to me.
21:59
[SPEAKER_00]: Yeah, Charles.
22:00
[SPEAKER_00]: It doesn't resonate with me either.
22:02
[SPEAKER_00]: So why are you gonna try to act me to explain the broader entity because there are people out here of that thought process and when we had the conversation with Smitty and Remell like They were saying you own your home.
22:15
[SPEAKER_00]: No, no, no, no, no, no.
22:17
[SPEAKER_00]: Smitty said I should have bought a house.
22:19
[SPEAKER_00]: He should have not had.
22:20
[SPEAKER_00]: He said I should have rented.
22:22
[SPEAKER_00]: He's saying
22:24
[SPEAKER_00]: If I buy something out by an investment, but I don't think it's smart to buy a house to live in.
22:31
[SPEAKER_00]: The American dream of, let me close on the house.
22:34
[SPEAKER_00]: It's my first time.
22:36
[SPEAKER_00]: I'm a first time homeowner.
22:38
[SPEAKER_00]: I'm going to live in this house that I bought.
22:41
[SPEAKER_00]: There are lots and lots of people of that school above.
22:46
[SPEAKER_01]: Well, here's what we have to understand, too.
22:49
[SPEAKER_01]: Smitty, Romell, you and I are able to make money faster in a different realm to where a lot of investments don't make sense to us.
22:59
[SPEAKER_01]: A high yield of interest savings account at 4% makes no sense for us to put
23:06
[SPEAKER_01]: a hundred thousand dollars in because we could put a hundred thousand dollars into our programs and make two hundred thousand dollars, right?
23:14
[SPEAKER_01]: So a lot of those investors and I speak to our peers like well be a celly for example, he and I talk a lot.
23:22
[SPEAKER_01]: And when typical investment advisors speak to us, we're like, yeah, man, that really doesn't make sense.
23:31
[SPEAKER_01]: I could build a hot, me, and the situation in position, I'm in, I could build a house for $160,000, and sell it for $240,000, right?
23:41
[SPEAKER_01]: I don't need to put my money in that vehicle and those investment vehicles because I could almost, I have this trade, this skill set where I could multiply my money on my own.
23:52
[SPEAKER_01]: I don't need to.
23:53
[SPEAKER_01]: So I think Smitty may have been saying that to say, that's not the best use of my money at this time, but for the average American,
24:04
[SPEAKER_01]: You better buy your house, you better own where you live.
24:07
[SPEAKER_01]: Your kids, I mean, it's common.
24:09
[SPEAKER_01]: There's an article in the Wall Street Journal that's at Jen Zeeers, are normalizing moving back home and living in their parents' basement.
24:16
[SPEAKER_01]: Or the back and their old rooms again, just because the housing market isn't such a struggle.
24:23
[SPEAKER_00]: Yeah, and I actually haven't paid off my home, but I've paid off, like for instance, this building and the studio that I'm building, like 10 minutes down the street, those are paid off.
24:37
[SPEAKER_00]: I'd take my cash and I'll bye.
24:39
[SPEAKER_00]: Bye.
24:40
[SPEAKER_00]: All right.
24:40
[SPEAKER_01]: Yeah.
24:41
[SPEAKER_00]: Where do you want to say?
24:43
[SPEAKER_01]: We have the same idea about this stuff and people are going to be mad at us because we like to pay things off, remember she's talk about that so credit right it's cool, but I like to pay my I like to pay all my stuff often be that free.
24:59
[SPEAKER_01]: I'm of the debt free culture.
25:01
[SPEAKER_00]: Yeah, yeah, I'm definitely, I'm definitely on that.
25:04
[SPEAKER_00]: Does it feel good to be debt free?
25:06
[SPEAKER_00]: It does, bro.
25:07
[SPEAKER_00]: I know, even if something happened where, you know, God forbid, everything is, you know, I came in.
25:14
[SPEAKER_00]: Money and, you know, my house isn't paid off.
25:17
[SPEAKER_00]: And by the way, my mortgage is like 2,200 bucks.
25:22
[SPEAKER_00]: Because we bought 2018, I want to say.
25:30
[SPEAKER_00]: Or 2019, whatever.
25:32
[SPEAKER_00]: But we bought in, for like 250, it's worth like 400,000 now, but I would take my cash and I'll buy off a pay off a commercial property because my brain says, if anything goes wrong, bro, we're going to live here.
25:47
[SPEAKER_00]: Yeah, but I do have some where to live.
25:49
[SPEAKER_01]: Yeah.
25:50
[SPEAKER_00]: You know what I mean?
25:51
[SPEAKER_01]: Yeah.
25:51
[SPEAKER_00]: So if you're renting and you come on, I guess you know hard times it's just hard times and this is my next point I'd imagine is very expensive to not have money.
26:03
[SPEAKER_00]: Very expensive.
26:04
[SPEAKER_00]: Yeah, to be pro.
26:06
[SPEAKER_01]: I feel like, and they say, like, don't pay it off, you can pull money from it from your house.
26:13
[SPEAKER_01]: But I don't want to play with my house where I live.
26:15
[SPEAKER_01]: Like, I don't want to play that game where I borrow the equity from my house, right?
26:21
[SPEAKER_01]: If that investment that I borrow from goes wrong, I now, oh, I live in a brownstone in New York and a high rise in Brickle.
26:29
[SPEAKER_01]: I don't want to play with though, those are both paid off.
26:31
[SPEAKER_01]: Every, all my stuff is paid off.
26:34
[SPEAKER_01]: one, I think you save money in interest.
26:36
[SPEAKER_01]: So here's what people don't talk about.
26:38
[SPEAKER_01]: You could not pay your house off.
26:40
[SPEAKER_01]: You bought your house for $200, $300,000, whatever you said.
26:44
[SPEAKER_01]: In 30 years, you're going to pay all $500,000.
26:46
[SPEAKER_01]: So technically, by not paying it off, you're losing $300,000 by paying it off over time.
26:54
[SPEAKER_01]: They don't talk about that.
26:55
[SPEAKER_01]: So you're saving the interest and that interest is compounded, right?
26:59
[SPEAKER_01]: So, so, same thing with cars, I pay my cars off to just because when you, when you first finance a car, let's just say it's $50,000, they now have, because the truth and lending state, tell a truth and lending agreement, they have to show you what it is at the end.
27:18
[SPEAKER_01]: I'm how much you're going to pay off.
27:19
[SPEAKER_01]: So, people that say, don't pay those things off,
27:23
[SPEAKER_01]: that $50,000 ends up to be like $72,000.
27:28
[SPEAKER_01]: So I say, why not pay that off and say the $22,000 that we would pay an interest?
27:34
[SPEAKER_01]: Other people say you could use that capital to do other investments or use that capital to make more money.
27:40
[SPEAKER_01]: where it real estate gets messy is where they use capital to buy more houses and those tenants don't pay or they have issues and now they're stuck like Ramell with 40 properties and he's not making any money.
27:54
[SPEAKER_00]: Yeah, I think it's difficult to build wealth period.
27:57
[SPEAKER_00]: Yeah.
27:59
[SPEAKER_00]: But for the person who doesn't have money like that.
28:03
[SPEAKER_00]: They can't they can't pay off your house or you know buy the brownstone or pay off the condo and bring what they can't do that They can't buy this commercial.
28:11
[SPEAKER_00]: They can't do that What did they do
28:15
[SPEAKER_01]: You still have to have a place to live.
28:17
[SPEAKER_01]: You have to own where you live as like with the sense of urgency like no other.
28:24
[SPEAKER_01]: Because we don't know where the job market is going.
28:27
[SPEAKER_01]: 10 years ago, you could foresee it.
28:30
[SPEAKER_01]: It was like computer science.
28:31
[SPEAKER_01]: We're like, oh, we're going in this digital state.
28:33
[SPEAKER_01]: Do computer science, it'll never fail you.
28:35
[SPEAKER_01]: We know healthcare is kind of going to be the same, but they're
28:39
[SPEAKER_01]: They kind of digitizing healthcare, Amazon just launched a thing where telehealth is open now.
28:47
[SPEAKER_01]: Everything is changing so fast.
28:49
[SPEAKER_01]: So the one thing that I say to people all the time is the liberation for African Americans has always come through ownership.
29:01
[SPEAKER_01]: Our freedom since since we've been in America has been tied to land ownership.
29:07
[SPEAKER_01]: We fell into this capitalist society where we had to work for everything.
29:12
[SPEAKER_01]: But if you just think back, and we're starting to see this a lot more too, people are owning their land, their owning their houses, they're starting to grow their own foods, right?
29:23
[SPEAKER_01]: They're starting to be self-sufficient again.
29:26
[SPEAKER_01]: to where you don't have to play in that game where, oh, you have to work.
29:32
[SPEAKER_01]: You have to find a job.
29:33
[SPEAKER_01]: You got to do all this stuff from money to pay rent.
29:36
[SPEAKER_01]: Just imagine if you owned your place and you really started to chop down that mortgage to where you don't have to make whatever the cost of living is in your area.
29:46
[SPEAKER_01]: So, cost of living in Atlanta could be
29:50
[SPEAKER_01]: Whatever, 50,000, 60, whatever it is, right?
29:53
[SPEAKER_01]: You almost don't have to play in that game.
29:56
[SPEAKER_01]: If all you have to do between you and your family is make like a thousand dollars to cover taxes and a mortgage that you've chopped down over time.
30:05
[SPEAKER_00]: Yeah, so two things, one, I still want to go back to what is someone do if they don't have the money to pay off their home because we're talking in the future like, oh well, it's just easy to pay off your $200,000 in it's not so I want I want you to
30:22
[SPEAKER_00]: to touch on that, but you are going in a direction that I really like.
30:25
[SPEAKER_00]: You said African Americans were built on land on or something like that.
30:33
[SPEAKER_01]: Alfredo, liberation has always been tied to land ownership.
30:36
[SPEAKER_00]: Our liberation has always been tied to land ownership.
30:39
[SPEAKER_00]: Explain that.
30:40
[SPEAKER_00]: Let's go people with that.
30:42
[SPEAKER_01]: So when we were freed as slaves, right, right after the Civil War, African-Americans owned 19% of all available and affordable land.
30:55
[SPEAKER_01]: We lost it over time.
30:57
[SPEAKER_01]: through airs property, not passing it down through wells and trusts.
31:01
[SPEAKER_01]: We didn't believe in the system.
31:02
[SPEAKER_01]: We didn't trust it that if we died, it would be passed down properly.
31:07
[SPEAKER_01]: So we didn't do wells and trusts and we lost.
31:09
[SPEAKER_01]: It's called airs property.
31:11
[SPEAKER_01]: We lost a lot of property.
31:13
[SPEAKER_01]: uh that way.
31:13
[SPEAKER_00]: What's airs property?
31:15
[SPEAKER_01]: Yeah, it's like so let's just say grandma dies.
31:20
[SPEAKER_01]: Their airs are supposed to get the property, but if it's not passed down through a will, or if it's not in the trust, it will go to probate court and probate court.
31:31
[SPEAKER_01]: It's a huge fight and we ended up losing a lot of our property.
31:36
[SPEAKER_01]: So we didn't trust in those systems and we actually ended up losing a lot of property.
31:41
[SPEAKER_01]: However, right after the Civil War, we knew it was clear if you owned land, that's where you were free.
31:49
[SPEAKER_01]: Because you didn't have to, you don't have to work from money.
31:53
[SPEAKER_01]: You can be self-sufficient owning land.
31:55
[SPEAKER_00]: You yourself sufficient from a shelter perspective, right?
31:59
[SPEAKER_01]: We build a house.
32:00
[SPEAKER_01]: You yourself sufficient from a food perspective, where you have a farm.
32:04
[SPEAKER_01]: and you're now free.
32:08
[SPEAKER_01]: Time has changed when we lost that land and now we had to we got into what we call a renter society to a people learn that they could rent and rent and get into bigger or better properties.
32:21
[SPEAKER_01]: But with that we actually lost our freedom when we lost
32:31
[SPEAKER_01]: you're almost tied to this capitalistic system where you have to go work for money to pay your rent.
32:39
[SPEAKER_01]: There's no choice.
32:40
[SPEAKER_01]: You can't rent and not pay.
32:43
[SPEAKER_01]: So now we've lost our freedom because we now have to go work.
32:48
[SPEAKER_01]: Not to go too deep, but
32:49
[SPEAKER_01]: when we look into college, college is preparing you to go work for a company.
32:55
[SPEAKER_01]: It doesn't really prepare you to go on a company, right?
32:59
[SPEAKER_01]: So now that system has, we're starting to look at that and people are starting to see less value in going to college because,
33:08
[SPEAKER_01]: It only teaches you how to work a job.
33:12
[SPEAKER_01]: It doesn't teach, and even at the highest profession, like Harvard lawyers aren't taught to open a law firm, they're taught to go work at the best law firms in the country.
33:22
[SPEAKER_01]: They recruited, and if anybody's ever experienced higher education,
33:29
[SPEAKER_01]: those students are recruited from light, freshman and sophomore year to do internships at the biggest companies, at the biggest law firms, they're not taught to open law firms.
33:42
[SPEAKER_01]: And if you think of accounting, right, at those institutions,
33:45
[SPEAKER_01]: the highest accounting firms in the country are recruiting and they're doing internships at the Ernst and Young's, the biggest accounting firms in the world.
33:55
[SPEAKER_01]: They're not teaching, hey, you guys are super smart, the smartest individuals in the world that are going to these institutions,
34:05
[SPEAKER_01]: They're not teaching you guys to open your own law firm and compete.
34:09
[SPEAKER_01]: It's only teaching the law and how to go get a job at the biggest firm.
34:14
[SPEAKER_01]: And then of course, make partner at some point.
34:16
[SPEAKER_01]: But very few are going to make partner, right?
34:18
[SPEAKER_01]: Everybody can't be a partner.
34:21
[SPEAKER_01]: So we're learning and starting to understand as time is progressing.
34:25
[SPEAKER_01]: how, and I'm not like a conspiracy theorist, right?
34:29
[SPEAKER_01]: But how the system is working to kind of keep us tied and away from our ownership and true freedom?
34:37
[SPEAKER_00]: Yeah, I was reading a book years and years and years ago.
34:43
[SPEAKER_00]: And it was explaining how this one book is really interesting.
34:47
[SPEAKER_00]: It's called what is it called weapons of mass instruction.
34:52
[SPEAKER_00]: I want to say weapons that's a really, really good book, but.
34:58
[SPEAKER_00]: I was reading this, but it said how college has actually got started was, you know, and then industrial age, they needed people to work.
35:05
[SPEAKER_00]: So yeah.
35:05
[SPEAKER_00]: It didn't really matter what age you are, like you could be a kid in there.
35:09
[SPEAKER_00]: You do this, but what's happened was kids were getting hurt and these factories.
35:16
[SPEAKER_00]: So, they created this institution that taught them how to work for the factories.
35:22
[SPEAKER_00]: Like, they're teaching you the trade, how to stay safe, what to do, and this is like, they're beginning, according to what I understand.
35:29
[SPEAKER_00]: There's the beginning of education, school, because they're teaching you how to go into the factory.
35:36
[SPEAKER_00]: So, the kids, you know, if you have something to say, you raise your hand to your manager, your boss, same thing in schools.
35:43
[SPEAKER_00]: It's teach people to move according to a bell.
35:46
[SPEAKER_00]: So the bell goes off at school, bang, you go to your next class, doubling ads, okay, you may go to your next station.
35:54
[SPEAKER_00]: Or, you know, I thought that was really, really interesting.
35:58
[SPEAKER_01]: Yeah, we're getting smarter.
35:59
[SPEAKER_01]: We're learning, like as time is progressing, we're learning.
36:02
[SPEAKER_01]: My son said to me, and he's a scholarship athlete at Tugaloo College.
36:06
[SPEAKER_01]: Hopefully, he just doesn't hurt.
36:08
[SPEAKER_01]: Hopefully, he doesn't.
36:09
[SPEAKER_01]: He doesn't.
36:09
[SPEAKER_01]: No harm, right?
36:12
[SPEAKER_01]: He loves learning.
36:13
[SPEAKER_01]: He's basketball player over the summer.
36:16
[SPEAKER_01]: He started trading.
36:18
[SPEAKER_01]: So he has shout out to him trading with K, CAY.
36:23
[SPEAKER_01]: He made money on his own.
36:25
[SPEAKER_01]: He started his business at 20.
36:27
[SPEAKER_01]: He made money teaching people how to day trade, like the pros and cons and the discipline needed to day trade.
36:34
[SPEAKER_01]: Then when he went back to school, he said dad,
36:37
[SPEAKER_01]: You know, there's no way I'm going to get a job after school and he's like, honestly, I'm really going to focus on my trading because I see how college is just a system and a program and I was like, what do you mean I knew with the amount of money he made it would be tough for him to go work for, to go learn from people.
37:00
[SPEAKER_01]: Yes, there's value in the education, but that he may have made similar money to on his own at 20.
37:07
[SPEAKER_01]: He said, well, they encourage you to play video games all day.
37:11
[SPEAKER_01]: They encourage you to party.
37:13
[SPEAKER_01]: They encourage you to join these groups that don't necessarily benefit business ownership.
37:19
[SPEAKER_01]: They almost want you to party for four years and have the best time of your life and then go work for somebody.
37:29
[SPEAKER_01]: And I was just taking it back, I'm like a 20 year old is like decoding the college system and what's around him.
37:37
[SPEAKER_01]: But I think some of his experiences are very different.
37:41
[SPEAKER_01]: And I think it's starting to change.
37:43
[SPEAKER_01]: I think we're starting to see that there may be less value in today's time than there ever was.
37:52
[SPEAKER_01]: And that's why I think some colleges are doing free tuition.
37:57
[SPEAKER_00]: Yeah, are they?
37:58
[SPEAKER_01]: Yeah, so Rice University just announced it.
38:01
[SPEAKER_01]: They all colleges that are doing free tuition.
38:04
[SPEAKER_00]: Oh, I don't know that.
38:05
[SPEAKER_01]: Yeah, and then when when you think right when you think of free being the subject Right sometimes they say if something is free you're the subject Right have you heard that?
38:15
[SPEAKER_01]: No, like let they say like when when people are giving something out for free Like you're the test market or even apps
38:24
[SPEAKER_01]: They give you apps for free, but then they have higher offers in the apps, which the whole time they wanted to launch an app, get users, generate revenue and then sell.
38:35
[SPEAKER_01]: So yeah, they say like be mindful of free because when free is offered, you're the same.
38:41
[SPEAKER_00]: Yeah, I think I heard like when when about the product is free, you are the product.
38:47
[SPEAKER_00]: Yeah.
38:48
[SPEAKER_00]: Yeah.
38:48
[SPEAKER_00]: So if like you get,
38:51
[SPEAKER_00]: Um, uh, uh, you get on an app and the app is free is because they need a bunch of data, the data.
38:57
[SPEAKER_00]: Yeah, right.
38:58
[SPEAKER_00]: We need data.
38:59
[SPEAKER_00]: We need information so that I can sell these people.
39:02
[SPEAKER_01]: Yeah, exactly else.
39:04
[SPEAKER_01]: Yeah.
39:04
[SPEAKER_01]: That makes sense.
39:05
[SPEAKER_01]: And then no, not to you because I heard you wanted to sell something.
39:08
[SPEAKER_01]: Right.
39:08
[SPEAKER_01]: We had a deep conversation about that.
39:10
[SPEAKER_01]: But then they want to sell the app.
39:12
[SPEAKER_01]: Right.
39:13
[SPEAKER_01]: So it's like, yeah, just give it for free, burn through the capital race, get everybody on it, get everybody hooked on it and then we'll do some some up charging some revenue, some subscription revenue model to show that a generates revenue, it's it's viable people want it and now you could exit and so.
39:32
[SPEAKER_00]: I don't think it's bad being the product because especially if you get the value that you're looking for 100.
39:38
[SPEAKER_00]: Yeah, there might be a free website and the website is constructed so that people can come and only come in because again some value and I have to pay for it.
39:48
[SPEAKER_00]: But that traffic is what I'm selling.
39:49
[SPEAKER_00]: So it's a cool ecosystem.
39:51
[SPEAKER_01]: Yeah, it's there's nothing wrong with free.
39:54
[SPEAKER_01]: I'm not talking free like don't just walk into society.
39:57
[SPEAKER_01]: I don't know take you bad.
39:58
[SPEAKER_01]: I'm not like this tons of value in free.
40:01
[SPEAKER_01]: But when we're just talking about the college and the education system, we're going to notice that there are
40:09
[SPEAKER_01]: there's going to be more free education.
40:12
[SPEAKER_01]: And if you think of a sense of my companies, yeah, sponsored by companies.
40:16
[SPEAKER_01]: And if you think of the, if you think of the huge companies that recruit their students from college and we need these students to work for us,
40:29
[SPEAKER_01]: Hey, you could charge them less.
40:30
[SPEAKER_01]: I don't even care what you charge.
40:32
[SPEAKER_01]: Just get them through and then get them to me.
40:35
[SPEAKER_00]: Here's what's really cool about real estate too.
40:38
[SPEAKER_00]: Because there are some people that aren't resonating with what we're saying because they want to job, they value a job, they appreciate a job.
40:46
[SPEAKER_00]: They went out to be an entrepreneur and realized, oh, the saying this sweet is everybody thought, oh, this business is giving me more restriction than any job that I've
40:59
[SPEAKER_00]: And I did being an entrepreneur, but what I love about real estate is, no matter what your disposition in entrepreneurship, you can go to a job, sit at that job, work at that desk, be there for 20 years.
41:15
[SPEAKER_00]: So pulling some of your paycheck out to put it into real estate slowly and eventually,
41:23
[SPEAKER_00]: that real estate portfolios developed and you have to and you get to live the life that you desire not out there hustling for us hard building a business but that's what I love about real estate brother it levels the plan feel it it manages itself to some extent
41:41
[SPEAKER_01]: Or I'll say it grows itself because the property appreciates land doesn't cost that much and you can make money through from land through renting land so you can make money through selling it which is I'm going to say completely hands off right you can buy land listed on land dot com and sell it and make and make lots of money and do it all from from your phone.
42:05
[SPEAKER_01]: If we I've figured some other ways and tapped into some other industries, where you can buy a piece of land close to a highway and you can rent it out on truck parkingclub.com to truck drivers that need parking overnight.
42:22
[SPEAKER_01]: Oh wow.
42:23
[SPEAKER_01]: So there's a huge shortage of truck parking locations where truck drivers can legally park their trucks.
42:32
[SPEAKER_01]: So very similar Airbnb, where the app does all the work for you, there are some apps that will rent out your truck parking space.
42:41
[SPEAKER_01]: Your land, and it can just be vacant land.
42:43
[SPEAKER_01]: You don't have to do a lot to it.
42:44
[SPEAKER_01]: I just put gravel online to and logs to separate the truck parking locations.
42:51
[SPEAKER_01]: And that is the easiest money I've ever made day.
42:54
[SPEAKER_00]: Total, give me a second.
42:55
[SPEAKER_00]: Give me a second, give me a second.
42:57
[SPEAKER_00]: What you're saying is,
42:59
[SPEAKER_00]: If you have land by highway, buy an exit, buy an exit, you buy the land, and turn into a parking lot.
43:08
[SPEAKER_00]: Are you charging the people to come park?
43:11
[SPEAKER_01]: Yeah.
43:11
[SPEAKER_01]: So truck parking club does all the marketing for it to truck drivers.
43:15
[SPEAKER_01]: They're familiar with the apps.
43:17
[SPEAKER_01]: There's like five apps that truck drivers use to find parking because there's a struggle with parking, right?
43:25
[SPEAKER_01]: There's
43:27
[SPEAKER_01]: 330,000 truck stops that are publicly owned and then privately like 50,000.
43:33
[SPEAKER_01]: So it is literally not enough parking spaces.
43:36
[SPEAKER_01]: They can only drive a certain amount of hours before it gets legally they can't.
43:41
[SPEAKER_01]: And then before it gets dangerous.
43:43
[SPEAKER_01]: So they have to find truck parking, right?
43:45
[SPEAKER_01]: Sometimes we see trucks just park on the side of the road.
43:47
[SPEAKER_01]: They're resting and sleeping because they have to.
43:50
[SPEAKER_01]: And most of the times because they can't find a parking space.
43:53
[SPEAKER_00]: Is that legal?
43:54
[SPEAKER_01]: is it legal to park on the side of the road?
43:57
[SPEAKER_01]: Yeah, I didn't know.
43:58
[SPEAKER_01]: Not if you're, no, you can't, you get just park on the shoulders.
44:02
[SPEAKER_01]: Say a map.
44:03
[SPEAKER_01]: If there's a hazard, you, yes, because your truck doesn't work.
44:07
[SPEAKER_01]: Legally, you should get off and go to a rest stop.
44:10
[SPEAKER_00]: Yeah.
44:11
[SPEAKER_01]: And rest say, is it legal?
44:14
[SPEAKER_00]: And did they bother you if you like going to a Walmart parking lot?
44:18
[SPEAKER_01]: I don't know.
44:20
[SPEAKER_01]: I don't know the legalities, but you probably can't sleep at a Walmart because all Walmart will be packed with trucks.
44:33
[SPEAKER_01]: I would look up this.
44:35
[SPEAKER_01]: Is there a shortage on truck parking in the United States?
44:39
[SPEAKER_00]: on a real part as a truck driver and I want to imagine not, right?
44:53
[SPEAKER_01]: there's a huge shortage.
44:54
[SPEAKER_01]: So I have a truck parking lot rented every month and I don't want anyone to think they're going to get rich from doing this from one spot.
45:04
[SPEAKER_00]: So one of our parking lots are private property.
45:07
[SPEAKER_01]: You can just park your truck.
45:11
[SPEAKER_01]: Just disclaimer, I only charge $300 a month
45:24
[SPEAKER_00]: So these are truck drivers that are, they need to place them to the rest.
45:28
[SPEAKER_01]: So Birmingham is a huge, so here I'll give you three things that three key indicators if anyone's interested in opening a truck parking lot.
45:38
[SPEAKER_01]: You need to be there and exit off a highway so they can find it quickly and they don't have to drive a lot through town.
45:46
[SPEAKER_01]: It's very helpful if you're near another truck parking location because you will get the overflow traffic and it's extremely important if you open a truck parking location that your near distribution centers.
46:00
[SPEAKER_01]: So Burmig Coca-Cola has a $330 million distribution center in the center of Burmigam, Alabama.
46:08
[SPEAKER_01]: My truck parking spot is less than a
46:11
[SPEAKER_01]: That's how it gets booked every single month through truckparkinclob.com.
46:17
[SPEAKER_00]: Bro, this is wow.
46:20
[SPEAKER_01]: Did you just read about the shortage?
46:21
[SPEAKER_00]: There is about 11 truck drivers for every one legal truck parking space in the United States.
46:29
[SPEAKER_00]: 98% of truck drivers report having difficulty finding safe parking.
46:33
[SPEAKER_00]: Yeah.
46:33
[SPEAKER_00]: And drivers often spend 30 to 60 minutes or more looking for parking.
46:38
[SPEAKER_00]: You know, forcing them to either stop early, meaning losing drive time and income, or risk parking on highway ramps, or other unauthorized locations.
46:49
[SPEAKER_00]: This should get this.
46:50
[SPEAKER_00]: The shortage has become such a safety concern, that Congress approved a $200 million incentive in dedicated truck parking for 2026.
47:02
[SPEAKER_01]: Yeah.
47:03
[SPEAKER_01]: Wow.
47:03
[SPEAKER_01]: So as part of the conference, we teach that.
47:05
[SPEAKER_01]: We're going to sweet tour.
47:07
[SPEAKER_01]: So as part of the conference on Friday, we're going to tour my group homes.
47:12
[SPEAKER_01]: We're going to tour my new builds.
47:13
[SPEAKER_01]: We're going to tour my truck parking lot.
47:16
[SPEAKER_01]: We're going to tour new builds of my students and we're going to tour some Airbnb's at my team members have already.
47:23
[SPEAKER_01]: But yeah, that's huge day.
47:25
[SPEAKER_01]: And this is huge things.
47:26
[SPEAKER_01]: Here's a huge gap.
47:28
[SPEAKER_01]: Here's the thing.
47:29
[SPEAKER_01]: If you're
47:32
[SPEAKER_01]: if you're close to a highway exit and you have vacant land like you're like prime to help out in that gap.
47:40
[SPEAKER_01]: I never thought about that.
47:41
[SPEAKER_00]: So okay, so here's what I don't understand.
47:44
[SPEAKER_00]: How are you going to charge someone monthly if they're just passing through?
47:48
[SPEAKER_01]: So it's daily, you can charge daily.
47:50
[SPEAKER_01]: Could do daily weekly or monthly.
47:51
[SPEAKER_01]: Yeah, well daily $15.
47:54
[SPEAKER_00]: $15 to pull over somewhere safe.
47:57
[SPEAKER_00]: Eat, sleep, get back on the road.
48:02
[SPEAKER_01]: which is a huge thing too because sometimes if they want to fix something or tighten something, some places won't allow you to work on your truck.
48:10
[SPEAKER_01]: I allow it.
48:10
[SPEAKER_01]: It's like between you and I, it's an empty piece of land that I've never even seen before.
48:15
[SPEAKER_01]: That I've never gone to before.
48:17
[SPEAKER_01]: I don't care if they work on their truck there or not.
48:20
[SPEAKER_01]: It's just an added benefit if you allow them to work on their truck if it's well lit and it's in a safe place close to a distribution center.
48:31
[SPEAKER_01]: perfect location.
48:33
[SPEAKER_00]: This is wild.
48:34
[SPEAKER_01]: Let's take a step further.
48:37
[SPEAKER_01]: Man, let's take a step further.
48:39
[SPEAKER_01]: Can you Google the top five grand?
48:43
[SPEAKER_01]: Are you in chat or blog?
48:45
[SPEAKER_00]: I'm on Google right now, bro.
48:47
[SPEAKER_00]: And there are, I never even know.
48:49
[SPEAKER_01]: Yeah, it's huge.
48:51
[SPEAKER_01]: So, so, look, let me just wrap this up for the person that has a job that wants to pay off their house.
48:57
[SPEAKER_01]: You can invest in land and open a truck parking, truck parking lot to earn extra income.
49:04
[SPEAKER_00]: And it doesn't even matter where, like it doesn't have to be a major city, just so modernist near their distribution, send a narrow highway and say,
49:13
[SPEAKER_01]: near the highway exit, because they don't want to drive too far into a city to go rest and sleep.
49:20
[SPEAKER_01]: If it's near a highway, it's all, it's all a benefit.
49:24
[SPEAKER_00]: This is wild, bro.
49:27
[SPEAKER_01]: Yeah, I never, there's so many asset classes, Dave, that every estate where there's just
49:39
[SPEAKER_01]: If you just think about the gap right there and just helping from a land perspective, you can do well.
49:46
[SPEAKER_01]: Oh my gosh.
49:47
[SPEAKER_00]: Okay.
49:47
[SPEAKER_00]: September 18th.
49:49
[SPEAKER_00]: Remember, man.
49:50
[SPEAKER_01]: Yeah.
49:51
[SPEAKER_01]: And you're going to be teaching what?
49:54
[SPEAKER_01]: How to pick, purchase, profit, and protect investment properties there.
49:59
[SPEAKER_01]: But it's not limited to Birmingham.
50:01
[SPEAKER_01]: That's just like, hey, everybody comes see what I'm doing, come see what I've done, come see what other team members have done, oh, by the way, you can use my team to do it, you can use my lenders if you needed.
50:15
[SPEAKER_01]: And I want to introduce everybody to everybody that they need to be successful in real estate this so so if you did buy a piece of land that needed to be cleared You're going to meet the contract that can clear your land and put gravel for your truck parking spot if you did buy a piece of land and you wanted to build on it.
50:35
[SPEAKER_01]: You'll meet the group of the crew that I use to build which you have access to as well.
50:44
[SPEAKER_00]: I don't have any money working a job just barely kind of getting by right how do I start just process a well-building with land you you have to
51:00
[SPEAKER_01]: If you're serious about your financial future, you have to buy a piece of land to start.
51:08
[SPEAKER_01]: Like at the bare minimum, I don't love selling it because then we lose control, but you can either buy it and sell it for profits on land.com, Facebook Marketplace does really well and start to build.
51:22
[SPEAKER_01]: So if you really look on,
51:25
[SPEAKER_01]: the Alabama Department of Revenue, you can find land in the $500 area.
51:31
[SPEAKER_01]: buy it and just resell it.
51:33
[SPEAKER_01]: At the very minimum, you own a piece of land.
51:36
[SPEAKER_01]: If it takes a month to sell it, if it takes two months to sell it, you're still in the game.
51:41
[SPEAKER_01]: You still own the land itself.
51:44
[SPEAKER_01]: When you sell it, you can just repeat the process until you get enough money to start to do other things that we teach.
51:52
[SPEAKER_01]: But at the bare minimum, if you could get up $500 and you could,
51:57
[SPEAKER_01]: spend the time researching the right piece of land.
52:02
[SPEAKER_01]: You can be profitable and start to build a portfolio.
52:05
[SPEAKER_00]: I love that.
52:06
[SPEAKER_00]: I love that.
52:06
[SPEAKER_00]: Well, look, man, I thank you so much because I'm, you know how to me looking at land here.
52:11
[SPEAKER_00]: I love you.
52:12
[SPEAKER_00]: I've never been thought about that, bro.
52:14
[SPEAKER_01]: Yeah.
52:14
[SPEAKER_00]: So yeah, thank you, bro.
52:15
[SPEAKER_00]: I want to let everybody know how they can meet with you at the conference.
52:19
[SPEAKER_00]: And do you have a, maybe like a discount code for listeners?
52:24
[SPEAKER_01]: And so here's how to find this right now if I got one I'm making it up right now, if you're serious about changing your financial future go to let's build Birmingham dot com you can grab a ticket there just for you if you put in on the promo code on the checkout page social proof we will give you a plus one ticket so that you can bring an accountability part you can bring somebody that will hold you accountable.
52:53
[SPEAKER_01]: to actually stay in a plate, you're gonna have to do some work, right?
52:57
[SPEAKER_01]: To stay in a plate and actually buy in that first piece of land.
53:01
[SPEAKER_00]: Okay.
53:01
[SPEAKER_00]: I love that.
53:02
[SPEAKER_01]: All right, so we'll do Bob, I want to get one free accountability partner, social proof, in the promo code, and we'll give you that plus one ticket.
53:11
[SPEAKER_01]: I love it, there we go, man.
53:13
[SPEAKER_00]: Tell everybody how to follow you, man, and leave us what the order was, the man.
53:18
[SPEAKER_01]: on Instagram at Charles J. Noonin.
53:22
[SPEAKER_01]: You can find me that's that's the main social media platform that that I have and then you grab your tickets at let's build burnmeham.com and words of wisdom.
53:36
[SPEAKER_01]: own your house.
53:37
[SPEAKER_01]: Right.
53:38
[SPEAKER_01]: Let's not sell grandma's house anymore.
53:41
[SPEAKER_01]: Grandma worked her butt off to get that house.
53:43
[SPEAKER_01]: Let's stop selling grandma's house.
53:45
[SPEAKER_01]: Let's keep grandma's house in the family.
53:47
[SPEAKER_01]: And let's grow and build wealth the right way.
53:50
[SPEAKER_00]: That would go, man.
53:51
[SPEAKER_00]: We can't close it out no better than that.
53:52
[SPEAKER_00]: There's some in favor.
53:53
[SPEAKER_00]: Gold followed Charles men.
53:55
[SPEAKER_00]: Hopefully we'll see you all in Birmingham.
53:57
[SPEAKER_00]: Okay.
53:57
[SPEAKER_00]: Use promo code social proof.
53:58
[SPEAKER_00]: You can just bring somebody.
54:00
[SPEAKER_00]: We'll be a notification or if I use that code, I'm just showing up and I'm
54:04
[SPEAKER_01]: No, I'm going to give them a notification so that they could add their person.
54:08
[SPEAKER_00]: Okay, perfect.
54:08
[SPEAKER_00]: Perfect.
54:09
[SPEAKER_00]: Man, hopefully we'll see you all in Birmingham and I do yourself a favor, man.
54:13
[SPEAKER_00]: One, follow Charles to go to Birmingham, like check it out.
54:16
[SPEAKER_00]: I think world building is important in your kids and your kids, kids.
54:20
[SPEAKER_00]: Well, thank you for at least gathering knowledge and starting to put this in the practice.
54:24
[SPEAKER_00]: Even if you have a whole lot right now, if we're buying land under a thousand dollars,
54:33
[SPEAKER_00]: To start building something and owning something.
54:35
[SPEAKER_00]: So do yourself that favor and lastly go get you some social proof name meaning Go build something build it really really big But come back to your community and teach them how you did it.
54:45
[SPEAKER_00]: It's the only way our community grows.
54:47
[SPEAKER_00]: Yeah