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Transcript

Here's How You Make Money · Kenny Wallace Media

• 0:03
  Coffee from the kitchen this morning, my queen.
• 0:09
  The love of my life, Kim Kim says.
• 0:12
  I don't like my computer. It's it's very old.
• 0:15
  I said yes. I agree with you, honey.
• 0:18
  Your computer. That one right there is very old
• 0:21
  and it's going bad. Let's buy you a new one.
• 0:25
  There's the new one. She won't use the new one.
• 0:28
  She's still using the old one. I come in every night.
• 0:32
  I say, why didn't we even buy that computer?
• 0:35
  Well, it's taken me time, and it is.
• 0:38
  So that's the story with the two computers.
• 0:41
  She's afraid of the new one. Kim's afraid of the new
• 0:44
  computer, All right. Little bit of content this
• 0:48
  morning. Last night we went and seen a
• 0:51
  really good movie and got home late.
• 0:56
  What do we see? Cabrini or something like that.
• 0:58
  Really good movie. But anyway, we're movie buffs.
• 1:00
  We go every Tuesday night. We see a lot of movies.
• 1:04
  I learn a lot about history through movies.
• 1:07
  Come to find out the great John Force, the drag Raider, Drag
• 1:11
  racers. A lot like me.
• 1:13
  All right, straight to the point.
• 1:15
  So somebody was teasing me last night.
• 1:19
  Hey Wallace, have you ever worked a nine to five job?
• 1:23
  So it made me laugh. Lately here I've been seeing a
• 1:28
  couple people. You you got that wealthy brother
• 1:31
  of yours, Rusty Wallace is wealthy.
• 1:33
  He, Rusty gives you all his money.
• 1:36
  I said, well, I don't want to ruin your version of what you
• 1:39
  think about me. So yeah, that's it.
• 1:43
  You know what? You know what?
• 1:44
  People think you're winning because he got a lot of money.
• 1:47
  And then they find out you don't have a lot of money and you're
• 1:50
  still winning. That it's like, damn, you ruin
• 1:54
  that vision they have of you. So anyway, it made me think.
• 1:59
  So I went through my right away. I remembered I had listed
• 2:04
  everything I did in life last year.
• 2:07
  Somebody got to talking to me about what what what kind of
• 2:12
  jobs have you had And I started listing all my jobs.
• 2:16
  Why I still have that in my photos.
• 2:19
  So it it starts from, you know, man, I did a lot, whether it was
• 2:24
  repairing vacuum cleaners as a janitor or whether it was a
• 2:29
  street cleaners or chemicals. And then I went and cleaned
• 2:32
  sewers out and race car driver, crew chief, SiriusXM, radio
• 2:37
  speeches, you name it. So when I was doing this, of
• 2:45
  course, 99.9% of the people know everything I've been through.
• 2:49
  So a man just said to me, Kenny, can you teach me about real
• 2:55
  estate? And I said, you know what, That
• 2:57
  would make a great coffee with Kenny.
• 3:00
  So because I'm 60, I'm starting to tell my truth now.
• 3:06
  Yes, I made starter money in NASCAR.
• 3:10
  That's key. That's key here.
• 3:12
  I made starter money in NASCAR. See, yes, I did make good money
• 3:17
  in NASCAR and TV and, you know, being a spokesperson and doing
• 3:22
  speeches and working for SiriusXM Radio and TV.
• 3:27
  So I'm telling my truth right now.
• 3:30
  There's a lot more to Kenny Wallace than meets.
• 3:32
  Yeah, but I'm going to tell you about real estate.
• 3:34
  I'm going to give you some shortcuts real quick.
• 3:36
  But before I do remember, I made my money racing NASCAR, driving
• 3:41
  the car. That's the most money I made.
• 3:44
  Then I made a lot of money doing TV.
• 3:46
  Then I made a lot of money giving speeches.
• 3:50
  They they pay really good for giving speeches.
• 3:52
  So. So I'm a mover and shaker.
• 3:55
  I do not fuck around. You get out of my way is what
• 3:59
  I'm saying. I'm moving and going.
• 4:01
  I don't sit around. So I made money a lot of
• 4:03
  different ways. However, I do want to give my
• 4:07
  wife Kim a lot of credit. She said my mom and dad rented
• 4:11
  homes. We need to invest in rental
• 4:13
  homes. Well, for years.
• 4:15
  I said no, I don't want to do that.
• 4:17
  OK, let's Fast forward. Kim deserves a credit.
• 4:20
  However, I became the master of it.
• 4:24
  Kim rented them. I maintained them.
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  I had them clean. I can even tell you, Listen, I
• 4:30
  want to give you a quote. If you're going to make money,
• 4:34
  there's nothing that's easy, OK? Anything worth making money at
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  takes work. Anything making money at takes
• 4:43
  work. I had 12 rental homes.
• 4:46
  A dozen rental homes is key here.
• 4:49
  You're not going to get 3 rental homes and make money.
• 4:52
  So I had, at the time I had 12 rental homes.
• 4:58
  Kim rented them. I took care of them. 5050 Clorox
• 5:02
  bleach. You know, 'cause you, you get
• 5:05
  the side with no sun on the home, so there'll be a side on
• 5:08
  your home on all your rental homes.
• 5:10
  That would just start, you know, getting mold, use 5050 bleach
• 5:15
  Clorox. I mean, you know, I'd wear
• 5:17
  shitty clothes, I'd clean them. Then I had a, then I had a, you
• 5:21
  know, heating and air guy, then I had a plumber.
• 5:26
  So anyway, I'm going to tell you real numbers I was making about
• 5:30
  right at I was renting them for like, you know, back in the day
• 5:34
  I was renting them for like 800 because that's all you could get
• 5:37
  down there in Concord, NC. That was kind of, you know,
• 5:41
  there wasn't much money in that area.
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  So know your area, you you got to know what you can get in that
• 5:46
  area. Let's just use the number 800.
• 5:49
  I was getting 800 a month. What is that?
• 5:51
  I forgot what that is 8 * 9 around $9800 a month.
• 5:57
  I was paying myself 4000 a month, paying myself, me and
• 6:02
  Kim. I was taking 4000 a month.
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  The rest went to maintenance, personal property taxes,
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  insurance. I I built money to take care of
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  them. OK, so you need 12 rental homes.
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  I paid myself 4000 a month. The rest went for personal
• 6:23
  property taxes, insurance, maintenance.
• 6:26
  Just think about every time somebody moves out.
• 6:30
  First of all, people treat rental homes like total shit.
• 6:36
  Kim and I made a lot of mistakes.
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  When you rent your home, you make sure they're good people.
• 6:42
  We've we've rented brand new homes and they have fucking
• 6:45
  destroyed them. I wanted to wring their neck.
• 6:48
  I had to go in to spend $10,000 kids that we just made mistakes.
• 6:53
  So we learned to scan the people you're renting, OK?
• 6:58
  And we love dogs. We love them.
• 7:00
  But by God, now I know why renters do not like animals in
• 7:04
  your dog, in your rental homes. They will allow these dogs and
• 7:09
  these animals to just destroy your brand new rental home and
• 7:12
  then just peel out. Yeah, you get your $700.00
• 7:16
  rental back. But listen, we love animals.
• 7:20
  But there's a reason rental people don't like you to have
• 7:23
  animals because they will destroy some shit.
• 7:26
  All right, here's the other thing.
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  Number one, get 12 rental homes. OK.
• 7:32
  Once you acquire them all, you're going to want to get a
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  jumbo loan. So you might get an individual
• 7:37
  loan for each home. Get a loan.
• 7:39
  Get a loan. Get a loan, get a loan.
• 7:41
  Once you acquire 12 rental loans, go back to your bank and
• 7:45
  go, look, I want to consolidate this and I want one loan.
• 7:49
  They call it a jumbo loan. OK?
• 7:51
  That jumbo loan is 11. Check.
• 7:55
  One payment a month. There was a time I was writing
• 7:58
  1212 checks, you know, every month.
• 8:01
  It was exhausting, right? So had a loan on the homes.
• 8:07
  So you had a monthly, monthly, you know, payment.
• 8:11
  But the jumbo loans were the way to go.
• 8:15
  Now I'm going to tell you The humdinger, this is where I made
• 8:19
  my money in real estate. We wanted to move back to Saint
• 8:22
  Louis. It was time to sell.
• 8:25
  So I sold all my rental property to.
• 8:28
  I cashed out and took all that money, put it in the stock
• 8:33
  market. Donald Trump became president.
• 8:35
  Stock market went from 19 to 34. Woo Hoo.
• 8:43
  So talk about hey Herman, you got all that mascot money.
• 8:48
  So I just de bullshitted the truth.
• 8:50
  I I can, I can see the headline coffee with Kenny.
• 8:54
  Where did I make all my money? And it was not mascot.
• 8:57
  So now I'm 60 years old, and I told you the truth.
• 9:01
  Now you go do what I did. OK?
• 9:05
  You go do what I did. I told you my truth.
• 9:08
  I told you where I made all my money.
• 9:10
  Yes, it was driving the NASCAR race car.
• 9:12
  It was giving speeches. It was all those things I told
• 9:16
  you. Working for TV, Fox.
• 9:19
  Working for SiriusXM. Yes.
• 9:22
  You all forgot about that shit, didn't you?
• 9:24
  All right, then. But then I took that money.
• 9:28
  You heard those old stories, you know, Conway, Twitty, whoever
• 9:31
  they they start. I got millions of dollars.
• 9:33
  Now I'm going to start me a chicken company.
• 9:35
  And then they lose all their money.
• 9:37
  No, your your objective is that take the money you made and make
• 9:42
  more. All right, so that's what I did.
• 9:47
  I had help along the way in my racing career.
• 9:51
  My brother was wonderful to me, but he never gave me.
• 9:54
  He never gave me money. However, he did move me down
• 9:58
  there and start a NASCAR team for me, and I've documented that
• 10:02
  for years. I am forever thankful to my Big
• 10:05
  Brother Rusty, my Big Brother Mike.
• 10:08
  But anyway, So today on this day, I decided to give you all
• 10:13
  my information. I'm going to save this video and
• 10:15
  I'll share it with some of you dumbasses every once in a while
• 10:18
  when you get stupid on me.