Speaker 1: Welcome to Brown Ambition. We are both finally back in
Speaker 1: the same country.
Speaker 2: Same country. Yes, do you know how far away India is?
Speaker 1: Ah? Yes, isn't it? In like a nineteen hours? I
Speaker 1: forget how far my long life flight was, but it
Speaker 1: was brutal.
Speaker 2: Listen, let me remind you it. My trip home is
Speaker 2: actually longer than the trip there because every flight was
Speaker 2: like an hour and a half longer because I guess
Speaker 2: you're going against the windstream or something scientific. So I
Speaker 2: was traveling for twenty seven hours. What, yes, And that
Speaker 2: was eighteen hours in the air, and then you had
Speaker 2: the hours in between flights and stuff because I had
Speaker 2: two layovers. When I tell you, I was destroyed, Like yeah,
Speaker 2: destroyed because I couldn't sleep, and then by the time
Speaker 2: I got tired, I wanted to force myself to stay
Speaker 2: awake so that when I actually got to JFK, it
Speaker 2: was night time and I could just go to sleep
Speaker 2: so I could get back on a normal sleep schedule.
Speaker 2: But it was so it was so hard.
Speaker 1: Yeah, I think I had straight flights each time, so
Speaker 1: in like nineteen hours. I don't I don't know. Did
Speaker 1: I stop.
Speaker 2: You must have stopped?
Speaker 1: Well, I don't know.
Speaker 2: It depends on where your destination was. I was going
Speaker 2: to like a smaller city in India, so there wasn't
Speaker 2: I had to like, I had to stop a couple
Speaker 2: of times. But anyway, it was an amazing trip.
Speaker 1: It is.
Speaker 2: I digested it. I had a really good time. It
Speaker 2: was the weather was really nice. And now the snow
Speaker 2: is happening right now, and I kind of want to
Speaker 2: go back.
Speaker 1: I'm like, is it it's not snowy in Jersey yet?
Speaker 2: No, way, it was. It was snowing all today.
Speaker 3: Really not at all because I I.
Speaker 2: Mean, I don't think it's sticking, but it was just,
Speaker 2: you know, pretty pretty polite snow.
Speaker 1: So oh so I was speaking with someone and I
Speaker 1: realized because I was like, oh, you know, me and
Speaker 1: Superman will be you know, walking down the court House
Speaker 1: aisle soon. So I wasn't going to sign up for
Speaker 1: health care until I got a gentle reminder. You know,
Speaker 1: healthcare they're like stalkers, but I love them though. The
Speaker 1: Healthcare dog go They call you, they email you, they
Speaker 1: text you, yeah, and they are like that's cute, Tiffany.
Speaker 3: But just know this.
Speaker 1: If you don't sign up by the fifteenth, you're gonna
Speaker 1: be you will not be covered in January. So if
Speaker 1: you like, even if I get married in January, I
Speaker 1: won't be covered. So I'm like, ugh, so but I
Speaker 1: didn't realize that. So that's just something I just wanted
Speaker 1: to put out there because I just assumed that, like, oh,
Speaker 1: you know, I can, I can be covered in January.
Speaker 1: I'll be fine. So if you don't sign up by
Speaker 1: December fifteenth, you will not be covered for health care
Speaker 1: in January. And if you don't sign up by January fifteenth,
Speaker 1: you will not be covered for healthcare in February. And
Speaker 1: by the thirty first of January, if you don't sign up,
Speaker 1: you won't be covered for the year.
Speaker 3: So don't wait. I know, like it's such a pain.
Speaker 2: This is for Obombacare.
Speaker 1: Yes, for Obombacare, I'm sorry. So, like, if you have
Speaker 1: health care at your job and stuff, you know, you know,
Speaker 1: good for you. But for Obamacare, I'm sorry should have
Speaker 1: been but it's just that for us self employed people
Speaker 1: or people who maybe you don't work enough hours in
Speaker 1: order to qualify for healthcare at your job, you know,
Speaker 1: this is you're you're gonna want by the fifteenth to
Speaker 1: you know, to go, So there's this. Have you ever
Speaker 1: used Policy Genius.
Speaker 2: Before, man, Yeah, yeah, I have. Actually I think I
Speaker 2: wrote about them once.
Speaker 1: Yeah, so I I know policy I've only known them
Speaker 1: for they have like some sort of like life insurance thing.
Speaker 1: But I used it to sign up for, or at
Speaker 1: least not to sign up for, but to whittle down
Speaker 1: which healthcare provider I was gonna go with because my
Speaker 1: current one United Healthcare, or at least my current plan
Speaker 1: is phased out, which I'm like, great, I didn't want
Speaker 1: to have to think about it, and so I'm just like,
Speaker 1: so I like that tool, and I know there's some
Speaker 1: other tools you can use, because honestly, healthcare dog of
Speaker 1: I love you, my beautiful black President Obama, but that
Speaker 1: website is a nightmare. And so it's good to find
Speaker 1: a tool that will help you choose without you having
Speaker 1: to like because honestly, every year I just sit on
Speaker 1: the phone with them for two hours and figure it out.
Speaker 1: But with at least a Policy Genius tool, it helped
Speaker 1: me to like plug in what I wanted and then
Speaker 1: kind of spit out three or four. And there's another
Speaker 1: one too, if I can remember, I'll say it later,
Speaker 1: like there's another tool where it kind of does the
Speaker 1: same thing.
Speaker 2: But yeah, I honestly just tell older people like, if
Speaker 2: you don't feel comfortable with technology, I'm like, just call them,
Speaker 2: yeah on the phone, and it's gonna suck. But they
Speaker 2: have healthcare navigators like.
Speaker 3: And they're nice, really nice, are they Okay?
Speaker 1: Yeah? I mean I've called twice, like twice two years
Speaker 1: in a row. I've called and they were you know,
Speaker 1: they were really patient. They walked me through each It's
Speaker 1: just that you literally have to so they're like, so
Speaker 1: let me read you what this plan is, and then
Speaker 1: let me read you with this plan.
Speaker 3: The only problem is that there's so many.
Speaker 1: So that's why I say, I like those tools that
Speaker 1: kind of aggregate the plans for you based upon what
Speaker 1: you need so that way, because it was just so many,
Speaker 1: I just got overwhelm. Because they're reading the plans, I'm like,
Speaker 1: wait what was the other one before that? And then
Speaker 1: wait what was the other one? And so you're on
Speaker 1: the phone with them for a while. But I mean,
Speaker 1: it's if you're older and tech you're not tech savvy,
Speaker 1: then definitely do that. But if you're you are, you know,
Speaker 1: can you can use the computer you don't need to
Speaker 1: be tech savvy for for tools like a like policy genius,
Speaker 1: and there's another one. I'm gonna find it that like
Speaker 1: kind of like I said, you plug in your name,
Speaker 1: your doctor, where you live, that kind of thing, and
Speaker 1: it says, hey, here are six plans that might fit
Speaker 1: you based upon what you want to pay. Is the.
Speaker 2: Ah I frail all America.
Speaker 1: It's I forget.
Speaker 3: I feel like I had a name when rolling it,
Speaker 3: so maybe it wasn't roll America.
Speaker 1: But basically I'm saying use those versus healthcare dot gov
Speaker 1: because their healthcare dot Gov can be very hard to navigate.
Speaker 1: But I just want to put that out there because
Speaker 1: I didn't realize that, Like, you know, if I didn't
Speaker 1: sign it about the fifteenth that oh well for you
Speaker 1: if you get preggers.
Speaker 2: Oh yeah, that's important.
Speaker 1: Is your health plan?
Speaker 2: Has it gotten more expensive? A lot of people are, well,
Speaker 2: New York and Jersey are I guess a little bit
Speaker 2: more lucky because a ton of insurers haven't exit at
Speaker 2: the market like in other states like Arizona there's only
Speaker 2: one or two providers now, so their prices went up
Speaker 2: one hundred and sixteen percent.
Speaker 1: What But honestly, I don't know if it's gonna go
Speaker 1: up just because I my same plan is no longer available.
Speaker 3: So I was just like, great, I don't so yeah, So.
Speaker 1: I don't even know, like if it's like, what I'm
Speaker 1: gonna get is I'm trying to get something that's comparable
Speaker 1: to see, like you know what it's gonna cost.
Speaker 3: But it's a it's a grip. I'm not gonna lie.
Speaker 1: You know, I pay a few hundred dollars a month
Speaker 1: for the for the privilege of, you know, not dying
Speaker 1: in these streets. Go ahead.
Speaker 2: I was gonna say, my little brother, bless his heart,
Speaker 2: should have listened to big sister. I hope he doesn't
Speaker 2: listen to this because he's probably like, but he got
Speaker 2: his first job after college. He's a salesman for a
Speaker 2: big company. And you know, he was really proud of
Speaker 2: himself and wanted to be cheap and get the cheap
Speaker 2: healthcare plan which costs barely nothing and came with a
Speaker 2: huge deductible, I think five thousand dollars or something like that.
Speaker 2: And that's what happens when you choose the cheapest plan.
Speaker 2: And so poor guy, all year long, every time gets
Speaker 2: a cold or has to get a prescription. It's out
Speaker 2: of pocket, out of pockets. And just recently he was
Speaker 2: at a concert and I don't know all the details,
Speaker 2: but all I know is that someone Stave Jo Stave,
Speaker 2: dived off the stage and kicked him in the head
Speaker 2: and he had a concussion and had to get a
Speaker 2: ct And he's like, bandy, my bill from the er
Speaker 2: is three thousand dollars, yikers. So I told him to try.
Speaker 2: I think he can negotiate it, especially when you have
Speaker 2: a high deductible plan, especially with hospitals too, because CTS,
Speaker 2: MRIs those kind of like run of the mill procedures
Speaker 2: that hospitals do. They charged just like it's like you
Speaker 2: go to one place and it's three thousand dollars. You
Speaker 2: get on the street it's five hundred. It's so random
Speaker 2: how they choose what to pay. And that dollar sign
Speaker 2: on that on that bill isn't always the final word.
Speaker 2: And yeah, especially we have to pay out of pocket.
Speaker 1: I don't know.
Speaker 2: I don't know how it worked, how he's if he's
Speaker 2: done it or not, but he needs to call and
Speaker 2: tell them, you know, I'm paying out of pocket. Can you,
Speaker 2: you know, settle for less or give me some sort
Speaker 2: of discount because he can't afford three thousand dollars. That's insane.
Speaker 3: That is insane.
Speaker 1: Yay, the kid who kicked.
Speaker 2: Him should be paying, is it? It should be like a
Speaker 2: car accident, you know, like the people who hit you,
Speaker 2: their insurance pays. I don't know how that works within
Speaker 2: health insurance, but I'm like, he's just very tall.
Speaker 1: It's not his fault, right, You're like pay you, hey,
Speaker 1: you I need your card. I need your concert card,
Speaker 1: you know, like your insurance concert insurance card. It's like
Speaker 1: your car insurance card. So my car insurance actually, speaking of,
Speaker 1: just went up. I was like, oh, remember I got
Speaker 1: into that accident with the Ford vehicle that was loaned
Speaker 1: to be Yes, yeah, yeah, within like the first couple
Speaker 1: of days.
Speaker 3: So I just knew.
Speaker 1: So I had assurance, and because I drive the oldest
Speaker 1: car in America, my assurance. I think I was paying
Speaker 1: like sixty two bucks a month you know, for like
Speaker 1: whatever basic coverage covers. And so now I'm paying seventy
Speaker 1: five bucks a month. I'm like, oh, I know, so
Speaker 1: I'm trying to see I'm gonna do something though, no
Speaker 1: it's not, but you know, like so it's not as bad.
Speaker 1: As I thought it was gonna be. So I'm not,
Speaker 1: you know, because I really thought that it was going
Speaker 1: to go up tremendously. But I guess they were like they,
Speaker 1: you know, did the detail my car, and they were like, honestly,
Speaker 1: it's a ninety nine toory to camera with the muffler
Speaker 1: that many can attest to because we were on the
Speaker 1: phone with the muffler.
Speaker 3: That's louder than a crying baby struggling.
Speaker 1: Oh my god. That's why I was like, I was
Speaker 1: on mute. You're like, people are like, tivity, can you
Speaker 1: hear me?
Speaker 3: I'm like, I can just barely over this muffler.
Speaker 2: Sounds like you're riding a jet ski or something.
Speaker 1: Oh but you know what, though, when I get my house,
Speaker 1: then I'm gonna get the car.
Speaker 2: That's okay, okay, but having a car does not mean
Speaker 2: that you can and have a house.
Speaker 1: It's alms no, no, I know. But I'm just I don't.
Speaker 2: Know, you know, just one big thing at a time,
Speaker 2: maybe exactly.
Speaker 3: There's so many choices to be made.
Speaker 1: I'm just you know, sometimes you just lay in bed,
Speaker 1: You're like so many things, the things that need to
Speaker 1: be done. Like I had called my sister, my baby's sister, Lisa,
Speaker 1: And I said, Lisa, if I pay you like fifty bucks,
Speaker 1: if I post on my Facebook page that I'm looking
Speaker 1: for an in person assistant and for them to post
Speaker 1: their stuff in the comments, can you just like go
Speaker 1: through them and find somebody for me, because like, even
Speaker 1: that is a lot of work.
Speaker 3: Like if I post, hey.
Speaker 1: I'm looking for this person, then I might get like,
Speaker 1: you know, fifty people in my comments saying hey, you
Speaker 1: know I do that, which is cool, but then I
Speaker 1: have to go through them. I just don't have the
Speaker 1: time for that right now. And she's like, I'll do
Speaker 1: you one better. I was like what She was like,
Speaker 1: I'm not working during the week right now. She only
Speaker 1: works weekends. She's like, I'll do it.
Speaker 3: And I was like, okay, I said, without attitude. She
Speaker 3: was like, we'll see.
Speaker 1: Yeah. But you know what, though, I'm actually really happy
Speaker 1: about it because some of the stuff that I need
Speaker 1: is a little bit sensitive. Like I was still gonna
Speaker 1: have to do my own money things like but now
Speaker 1: I can be like, hey, here's my ATM card, go
Speaker 1: to the bank and give me this money, and then
Speaker 1: you know what I mean, Like I can my sister.
Speaker 1: You know, she's she can.
Speaker 3: Do that and I don't have to, but I remind
Speaker 3: her exactly.
Speaker 1: But I wouldn't do that obviously with a new admin,
Speaker 1: to give them like sensitive information, but with her, so
Speaker 1: I'm like so happy.
Speaker 3: And then Drina, my my.
Speaker 1: Publicists who we share in office, she was like, wait,
Speaker 1: can we share her? And Lisa was like, the more
Speaker 1: the merrier.
Speaker 2: So I'm also Lisa the stylist or is that Tracy.
Speaker 1: That's Tracy Tracy's I know I'm having just like the
Speaker 1: whole team. And so I'm super excited because one, like,
Speaker 1: you know, she's the baby, so I don't see Lisa's
Speaker 1: like the super I don't know, sophisticated, like New York
Speaker 1: bound like, so I don't really see her that much,
Speaker 1: you know. We talked maybe like I don't know, maybe
Speaker 1: like once a week or something, but I don't see
Speaker 1: her in person that often. So this will be nice
Speaker 1: because it'll be it'll force her to see my face
Speaker 1: every day, well not every day, but at least once
Speaker 1: a week, so like stuff like you know, going to
Speaker 1: the mail. So I figured just once a week, I'll
Speaker 1: make a list of everything I need done, like going
Speaker 1: to the mail, picking this thing up, dropping this thing off,
Speaker 1: dry cleaning. I'll see if I can trust her to
Speaker 1: go food shopping even because honestly, I don't even wanna
Speaker 1: do that anymore, and like pay her, like I don't know,
Speaker 1: fifteen bucks an hour and you know, I don't know.
Speaker 1: So we'll see. But I'm just excited because I'm like, yeah,
Speaker 1: I don't have to do those things anymore.
Speaker 2: That's exciting. Yeah, we hadn't had an update on you
Speaker 2: looking for your admin yet, so I.
Speaker 1: Think that And I was like, Lisa, how long are
Speaker 1: you gonna be out of work? She's like, well, I
Speaker 1: was like, must be nice, like what like because I
Speaker 1: guess her weekend job pays her. M Lisa lives very humbly,
Speaker 1: like she's got a really nice apartment in Jersey City.
Speaker 3: Actually ooh, so when you know.
Speaker 1: When you guys come, you guys can't come visit. She's
Speaker 1: got a studio, but it's fairly inexpensive, and she lives.
Speaker 3: She she brought her car and in cash.
Speaker 1: I taught her how to do that save and water,
Speaker 1: so she doesn't have that bill and so as a result,
Speaker 1: she doesn't have to make a whole lot in order
Speaker 1: to maintain her lifestyle.
Speaker 2: Oh so she can just like not work during the week.
Speaker 1: That's nice, I know, that's what I said. And I'm like,
Speaker 1: she's like starting to she wants to start a business,
Speaker 1: so she wanted to leave her week free. But you know,
Speaker 1: this would be like, you know, some extra coin for
Speaker 1: her to make without having to really stress herself, because
Speaker 1: Newark is not far from Jersey City.
Speaker 2: Yeah, it's thanks for keeping it in the family, keeping
Speaker 2: the mind on the family.
Speaker 3: Look at look at God.
Speaker 2: But let's let's go back to what you said about
Speaker 2: January in a courthouse. Is that happening so soon?
Speaker 1: I think so, honestly, because if nothing else but for
Speaker 1: the insurance purposes, I mean, because we're getting married anyway,
Speaker 1: So we want to do a spring at least, I said,
Speaker 1: we I want to do a spring wedding. Girls, like,
Speaker 1: he actually really does want a wedding. If it was
Speaker 1: up to me, I would probably just do the courthouse.
Speaker 1: But he actually would like a wedding. So I said, okay, well,
Speaker 1: let's do something in the spring, something like a Sunday brunch,
Speaker 1: something cute and pretty and you know, but low key.
Speaker 1: But let's officially, you know, get married in the new year,
Speaker 1: because honestly, he doesn't really want to wait.
Speaker 3: If it was up to him, we would have went yesterday.
Speaker 1: But I was like, well, wait, there's some some things
Speaker 1: that I wanted to to get in place before officially.
Speaker 2: Wait, he doesn't want to wait, but he wants a wedding, wedding.
Speaker 1: Yeah, he doesn't want to wait meeting for us to
Speaker 1: to go to the you know, officially just as the piece,
Speaker 1: he doesn't want to wait for that, But the wedding
Speaker 1: wedding he doesn't mind waiting for because he doesn't want
Speaker 1: to get a house first.
Speaker 3: So yeah, I don't know.
Speaker 1: He's just like like, you know, let's get married now,
Speaker 1: let's go to justice the piece tomorrow. I'm like, well,
Speaker 1: let's let's make sure we have some things in place first,
Speaker 1: and so you know, now that they are in place,
Speaker 1: are going.
Speaker 3: In place, then you know, now we can move forward.
Speaker 1: But I wanted to wait, Like, I'm like, you know,
Speaker 1: let's let's have a real conversation about finances and what
Speaker 1: we're doing. I mean, we always talk about money, but
Speaker 1: I wanted to have a super official conversation about that.
Speaker 2: You know, we're talking pre up here or what.
Speaker 3: Yeah, I know, I was trying to dance around it.
Speaker 2: Basically, I was trying to I'm like, what is she's
Speaker 2: saying some things in place.
Speaker 1: I know, And I'm like, cause he's not. I mean,
Speaker 1: he's to the chase. I'm not eve gonna talk about
Speaker 1: it much because I'm like, I'm sure his cousin's listening.
Speaker 1: He's not all that like happy about it, Like you
Speaker 1: don't trust me. I'm like, well, no, of course that's
Speaker 1: not it. But like to me, I always I'm thinking
Speaker 1: to myself that I have things that are not just me.
Speaker 1: You know, as I grow there are people who all
Speaker 1: they do is just work for me, and I want
Speaker 1: to just make sure that should anything happen that I
Speaker 1: don't you know, I'm not putting other people's lives in jeopardy,
Speaker 1: you know.
Speaker 2: Yeah, it's just he'll he'll come around. It's a smart decision.
Speaker 2: One of my friends just got married and and they
Speaker 2: she was well, she took it a step further. She
Speaker 2: like posted their prenup on Instagram. I was like, okay,
Speaker 2: miss Lauri and posted like the picture with the lawyer.
Speaker 2: She was real happy about it.
Speaker 1: I mean, I don't even to me, are like, you
Speaker 1: know what we decided is like what to be common
Speaker 1: sense stuff like, hey, if he's actually starting a business,
Speaker 1: you know, know when we buy these houses because it's
Speaker 1: his money, you know, his credit scored the houses and
Speaker 1: his name, you know, but and it'll he'll start an
Speaker 1: LLC to put these homes, you know, these multi family
Speaker 1: homes in his name. So the for us, it's just simple.
Speaker 1: It's like whatever business that you create is yours, Like
Speaker 1: that's just you as yours and whatever we do together
Speaker 1: is ours. So that that's all it really says. You
Speaker 1: know that I wanted to keep it real simple, like
Speaker 1: the budget eastend. If I make a business or whatever
Speaker 1: those are, those things are mine and your you know,
Speaker 1: your real estate development business or whatever, that'll be yours.
Speaker 1: And if we do projects and things together where we
Speaker 1: join our money together, then that's fifty percent mind fifty
Speaker 1: percent yours. So nothing crazy, but just at least that
Speaker 1: it's official, you know.
Speaker 2: Yeah, because it's in Jersey, a communal property state where
Speaker 2: if you get divorced without a prenup, that's fifty to
Speaker 2: fifteen no matter what I think.
Speaker 1: So and also too, it's also a what is that
Speaker 1: thing called when you like live common law state where
Speaker 1: if you live together for a certain.
Speaker 3: Amount of time, you're you're married in the eyes of
Speaker 3: the law.
Speaker 2: So well, I think people too get like there's a
Speaker 2: well there's a stigma of the prenap but then there's
Speaker 2: all so people don't really like what do you put
Speaker 2: in it? And I'm like, you just put whatever you
Speaker 2: want in it. It's you know, it's for you. It
Speaker 2: should be tailored to what you want. And meanwhile, I don't.
Speaker 2: I haven't even thought about one.
Speaker 1: I mean, I always think it depends. I mean like
Speaker 1: if my if I was a preschool teacher, still, honestly,
Speaker 1: I wouldn't even think about it. I wouldn't have I
Speaker 1: would have been like, okay, Or if I had a
Speaker 1: regular job, honestly, I wouldn't think about it. But because
Speaker 1: I own two businesses and I'm like, okay, especially one
Speaker 1: in particular where most of my employees and I'm starting
Speaker 1: to bring on more full time people, and I just
Speaker 1: want to make sure that because you know, I feel
Speaker 1: like there are things that are bigger than me, and
Speaker 1: I want to make sure that if anything should happen,
Speaker 1: that that that show can still go on without any hindrance.
Speaker 1: You know, Yeah, I hear you. Yeah, yeah, Like it
Speaker 1: wasn't a fun coman. The thing is, I'm one thing
Speaker 1: I am good at is that we have we've had
Speaker 1: we had that conversation months ago, and I have purposefully
Speaker 1: brought it up. I would say every other month, like
Speaker 1: we just do like a brush up on it, like so,
Speaker 1: and then when it came down, but you know, once
Speaker 1: you come down to the nitty gritty, then it's like
Speaker 1: and I think he didn't fully get like, I don't
Speaker 1: know why.
Speaker 3: I'm like, maybe it's TV.
Speaker 1: But I was like, oh, so you know, I'm gonna
Speaker 1: go see the lawyer today. Lawyer. I'm like, well, that's
Speaker 1: who does it. He thought I was just gonna write it,
Speaker 1: he was gonna sign it.
Speaker 2: I'm I'm like, that's not how text you.
Speaker 1: So then it became like that that was a little
Speaker 1: bone of contention because then it's like, lawyer, you know,
Speaker 1: that sounds so official and you know a document so yes,
Speaker 1: and it's just like, oh gosh. So that was not
Speaker 1: a fun conversation. And then even having to ask even
Speaker 1: though I know all his financials, but there were a
Speaker 1: few things I didn't know, you know, someone even asking, no,
Speaker 1: what do you need that for and I'm like, uh,
Speaker 1: for the for the document? Why am I what does
Speaker 1: my stuff have to be in there? I'm like, well,
Speaker 1: because it's we just have to establish this is where
Speaker 1: we are. And so that way, it's just such a
Speaker 1: ugh because yeah, I do so.
Speaker 2: You met with the lawyer, but is it something that
Speaker 2: you guys sit down together and do or did you
Speaker 2: do it? And then you're like, oh, here you go.
Speaker 1: Well no, no, it's something that we discussed together about,
Speaker 1: like so what should be, how should it go? You know,
Speaker 1: and so so but I'm the one who went to
Speaker 1: the lawyer because ultimately, when you when you do a prenup,
Speaker 1: it's it's one person that's looking for like he like
Speaker 1: he would have to create his own totally if he
Speaker 1: wanted to, that's fine, you know, but honestly, like we
Speaker 1: did it in a way where it was it was
Speaker 1: even so even though it was it was me that
Speaker 1: initiated it. It's the way it's written. It gives us
Speaker 1: equal power and value. I'm not like Donald Trump or
Speaker 1: I'm like, hey, you know, if we're married for one year,
Speaker 1: you get nothing. You get married for five years, you know,
Speaker 1: you get a thousand dollars a month, like, none of that.
Speaker 1: It was just literally, like, you know, if you build
Speaker 1: something and I don't put any finances or whatever into it,
Speaker 1: it's yours. If we build something together, it's fifty percent
Speaker 1: mind fifty percent yours. But that's something that we discussed. So,
Speaker 1: you know, I just wanted, Like I said, I just
Speaker 1: wanted something because I've just seen too many people say
Speaker 1: I wish I would have had something in place. Obviously,
Speaker 1: you know, you don't anticipate I don't anticipate the getting divorced.
Speaker 1: I've known him for so long and I love him
Speaker 1: and I can't imagine myself with anyone else. But at
Speaker 1: the same time, I'm like, you know, yeah, it was
Speaker 1: not an easy choice to believe. There's plenty of times
Speaker 1: when I was like, Tiffany, don't even do it.
Speaker 2: But then I'm like, Tiffany, it's a no brainer. Come on,
Speaker 2: it's a no especially when you both have significant assets
Speaker 2: and you've got your business. Yeah, I think you're doing
Speaker 2: You're doing the right thing. But it's easy because you know,
Speaker 2: I think you're right. It's like TV and like pop
Speaker 2: culture will villainize, Yeah, are not villainized, but just make
Speaker 2: it seem like a selfish thing to do, or it's
Speaker 2: about not trusting the other person.
Speaker 1: Yeah, that's what he came down to, like, oh yeah,
Speaker 1: so I mean, but I say for women and men
Speaker 1: and whoever, if you're you know, thinking about it, it
Speaker 1: should be a conversation to me anyway that it shouldn't
Speaker 1: be something that you create and it's the secret thing. No,
Speaker 1: it should be like, okay, so what do you think?
Speaker 1: What do you feel? You know? And so you know,
Speaker 1: he was just like, well, if that's what we're doing,
Speaker 1: that's what that's what we do. Anyway. I'm like, well,
Speaker 1: you'd hope so, but I always heard that the person
Speaker 1: you marry is not the person you divorce, and so
Speaker 1: you know, not like I said, not that and then
Speaker 1: you hate to think that, like what am I planning
Speaker 1: for a divorce?
Speaker 3: And I'm like, well no, I mean no.
Speaker 1: But at the same time, you just put yourself in
Speaker 1: a position anyway, I don't want to talk about anymore.
Speaker 2: Just get the ugly stuff, buyt of the way, and
Speaker 2: it's smarted. It was smart of you to start the
Speaker 2: conversation early and then keep That's what I do too,
Speaker 2: and I know that's something that's going to be difficult.
Speaker 2: I just mentioned it, and it's like, okay, take the
Speaker 2: band aid off, and then you sow you know.
Speaker 1: You and mentioned it and add a little bit more,
Speaker 1: a little bit more detailed. And then finally the day
Speaker 1: comes and it's not as bad as it would have been,
Speaker 1: but it's it's never easy, certain certain conversations.
Speaker 2: Oh adulting, but oh so exciting. It's spring wedding.
Speaker 1: I now, So I mean I'm thinking, like, like I
Speaker 1: said Sunday Brunch, I'm thinking under a hundred people, but
Speaker 1: you know, who knows I might be a tot little
Speaker 1: bridezilla and be like, oh my god, I want it all, but.
Speaker 3: I definitely want to pay for everything.
Speaker 1: Like we're already after this house is bought, we're already
Speaker 1: going to start like, you know, like the wedding fund
Speaker 1: because we have a joint savings account already. And so
Speaker 1: that was like, you know, at first I tricked him
Speaker 1: into creating one for quote unquote vacations, but in my
Speaker 1: mind I was thinking, like, hey, this will be something bigger.
Speaker 2: We know what's best for them, even if they don't.
Speaker 3: Exactly, we should have a vacation fund wedding.
Speaker 1: So yeah, so yeah, so we'll see I just don't
Speaker 1: want I don't like event planning. It's just too stressful.
Speaker 1: And I know a lot of people are like, i'll
Speaker 1: do it for you, but you even if you have
Speaker 1: an event planner, you still have to do planning.
Speaker 2: Oh yeah. What's crazy is this is the four month
Speaker 2: mark for us until the wedding. And I had a
Speaker 2: stress stream about it last week when I got back
Speaker 2: from India. It was a weird stress stream. It was
Speaker 2: a dream where like I, you know, we're paying for
Speaker 2: the wedding ourselves. We worked hard to save up for
Speaker 2: and all this kind of stuff, and we're proud of that.
Speaker 2: And my dream was that the wedding happened and we
Speaker 2: weren't there, and that we're gonna have to pay for
Speaker 2: a whole other wedding and ask for more money and
Speaker 2: like borrow money for this second wedding. And I was
Speaker 2: like hysterical. I don't know what that. I don't know
Speaker 2: what to read into that other than like I think
Speaker 2: I'm feeling like, holy crap, it's four months away. It's
Speaker 2: starting to get starting to creep up on us. But honestly,
Speaker 2: part of me is just like and where's the stress that, Like,
Speaker 2: I'm not really.
Speaker 1: Yeah, that's good, really feeling.
Speaker 2: I think the you know, I have my best friend
Speaker 2: right now is also engaged, and bless her heart, she's
Speaker 2: dealing with some difficult family members and I won't say
Speaker 2: which side of her face if it's her family or his,
Speaker 2: because you know, people listen. But and I and that's
Speaker 2: you know, and it hurt. They're not even getting married
Speaker 2: til next you know, next fall, so she's really stressed.
Speaker 2: And I'm just I'm like, thank God for my mother
Speaker 2: and my mother in law because they've really all they
Speaker 2: bugged me about is like what color dress should I wear?
Speaker 2: And you know, the bridal shower that you know, like
Speaker 2: nothing crazy, like they're not really that involved, and you know,
Speaker 2: we're just chilling. But who knows.
Speaker 1: It's good.
Speaker 2: I know it could be a different story I was saying, right,
Speaker 2: I don't.
Speaker 1: Know, Like Superman's mother unfortunately passed away in his twenties,
Speaker 1: so she's no longer here, but I hear that she
Speaker 1: was like super awesome.
Speaker 3: His father's still alive.
Speaker 1: I mean, they're not super close, so go I'm assuming
Speaker 1: he'll come, but meaning that there's not this energy on
Speaker 1: the other side of him that's gonna be like, and Tiffany,
Speaker 1: we want you to do this.
Speaker 3: This there's really not that there.
Speaker 1: You know. He's cool with his twin obviously, and his
Speaker 1: sister is really nice. So but I don't anticipate them
Speaker 1: being like this is what we see.
Speaker 3: I don't know. I just I just don't like, like
Speaker 3: I said, planning.
Speaker 1: I mean, in my mother and my father, I think
Speaker 1: they've already had the two big weddings from two of
Speaker 1: my sisters. So and they know me very very well
Speaker 1: enough to be like, you know what, We're just happy
Speaker 1: Tiffany's getting married and not running away with the circus.
Speaker 2: So you're inspiring people. Because my reporter, Brittany, who actually
Speaker 2: listened to the show, is like I was telling her
Speaker 2: about something I like bridesmaids gifts I was buying, and
Speaker 2: she's like, man, you're having a big wedding. I'm gonna
Speaker 2: be like, Tiffany, I'm gonna go to that. And I'm like,
Speaker 2: go ahead, then be like, Tiffany, leave me alone right out.
Speaker 1: I'm the serious. I'm just like, because I just don't want.
Speaker 1: I rather buy homes, like I know we have like
Speaker 1: a home buying question later. But I went shopping this
Speaker 1: morning with superman like we've been looking. So he got
Speaker 1: pre approved within like twenty minutes. It was like, you
Speaker 1: know how, you're just like when you have one of
Speaker 1: those I told you so moments with fiance Bud, like
Speaker 1: mm hmm, listen to me a kid, I'll take you places.
Speaker 3: That kind of moment.
Speaker 1: After doing all the work of showing him how to save,
Speaker 1: raising his credit score, like really getting him on a
Speaker 1: tight budget, all of that kind of stuff, it took
Speaker 1: about two and a half years, so you're like get
Speaker 1: him rocking and rolling. When it came to time to
Speaker 1: like really talk about buying a home, and I was
Speaker 1: really like trying to convince him I really think that
Speaker 1: multi family house is a way to go, but he
Speaker 1: wasn't interested because for for housing where he worked, he
Speaker 1: kind of does that and he's like it's not my favorite.
Speaker 1: But I was just like, no, but this will be
Speaker 1: a stream of income. Let's work more money. So finally
Speaker 1: he said okay, and we went for their pre approval
Speaker 1: process and literally it took I called like I asked
Speaker 1: a friend for like a referral called the guy. Guy
Speaker 1: was like, give me, you know, send me over your information.
Speaker 1: I sent it over to him. Within ten minutes. The
Speaker 1: guy calls me back in ten minutes and says, okay,
Speaker 1: pre approved for three hundred thousand dollars.
Speaker 2: And to say, is this a loan officer works for
Speaker 2: the bank or who's the guy?
Speaker 1: So he's he's a loan officer. It's just like, so
Speaker 1: what I loved about it though? And I said, is
Speaker 1: it typical for people to be pre approved so quickly?
Speaker 1: He said no, But honestly, he was like he had
Speaker 1: all of the right check marks, like one, he's been
Speaker 1: at his place of where he's worked, you know, well
Speaker 1: over ten years. Two you know he has a significant
Speaker 1: amount of money saved. Three he's got a great credit score,
Speaker 1: so he had all of the things you know. And
Speaker 1: five he has honestly no debt. So the approval process
Speaker 1: for Superman was super fast. But it's something I'd pre
Speaker 1: planned almost from the moment that we started dating, because
Speaker 1: I thought to myself, hmmm, he works for housing. He
Speaker 1: flips apartments like the floor, the wall. Basically when someone
Speaker 1: moves out, he prepares the space him in like a
Speaker 1: squad of like guys prepared the space for the new tenant.
Speaker 1: So basically a landlord, so he knows how to fix
Speaker 1: like everything, and even like some basic construction stuff, and
Speaker 1: what he doesn't know how to fix, he knows the
Speaker 1: guy because he works with the guys, you know. Yeah,
Speaker 1: And I thought that this is like the perfect leeway
Speaker 1: into being a landlord. And he was like, I'm not interested,
Speaker 1: and I'm like, okay, well, let's have a vacation account
Speaker 1: and let's get your credit score ready, basically setting him
Speaker 1: up for the eventual you'll see my way soon. And
Speaker 1: that took about two and a half years and he
Speaker 1: finally sees in my way and I after doing the
Speaker 1: maths with him, and so his pre approval was so
Speaker 1: fast because of laying that thound foundation. So I called
Speaker 1: a friend of mine. I said, you know, I'm looking
Speaker 1: for a loan officer, and she gave me a great
Speaker 1: referral and I called him. He said, okay, send all
Speaker 1: your stuff over. So we sent it over within like
Speaker 1: ten minutes, and ten minutes later he called and he
Speaker 1: was pre approved for three hundred thousand dollars. That's what
Speaker 1: we asked for, Like we're looking for a multi family house,
Speaker 1: no more than that. And the reason why, you know,
Speaker 1: he was pre approved so quickly without any issue at all.
Speaker 1: Is because one, he has an excellent credit score, so
Speaker 1: anything over seven forty you get the best rates for
Speaker 1: a home. He has a seven fifty two. He has
Speaker 1: no debt whatsoever. I mean, no car loan, no student loans.
Speaker 1: He has like you know, maybe like a he has
Speaker 1: a Macy's card. He just brought a suit, so I
Speaker 1: think he has two hundred dollars on that. But that's
Speaker 1: something he's going to pay off this month. But it's
Speaker 1: unheard of, honestly as an adult, to have literally no debt.
Speaker 1: He has no debt. Three, he has money saved. So
Speaker 1: he's been saving since then, since when I first met him,
Speaker 1: and I showed him how to open up an online
Speaker 1: bank and can we use ally, and so he's been
Speaker 1: saving automatically from his paycheck there and three and four
Speaker 1: he has worked at his job for nearly I think
Speaker 1: over twenty years. No, not over twenty years, but like
Speaker 1: over ten yeah, over ten years. And so all of
Speaker 1: those things combined make him like this really super safe
Speaker 1: person to lend money to. And so but all of
Speaker 1: that was after, you know, people ask me all the time,
Speaker 1: you know, like, oh, Tiffany, you know, I want to
Speaker 1: buy a house what are the things I need to
Speaker 1: get in order? And those really are. It is like
Speaker 1: get your credit score right, get your savings up, get
Speaker 1: rid of that debt, you know, and if you're working somewhere,
Speaker 1: you know, stay where you are for now because they
Speaker 1: don't want to see, Oh, I just switched jobs, you know,
Speaker 1: three months ago. And so yeah, he got preapproved, and
Speaker 1: we've been house shopping. We went this morning. So here's
Speaker 1: our plan. So we're looking for a multi family house.
Speaker 1: And I've done the math. So no, if it's a
Speaker 1: four family, our cap is three hundred thousand. If it's
Speaker 1: a three family, our cap is two fifty. If it's
Speaker 1: a two family, our caps like one fifty seventy five.
Speaker 1: So I'll give you an example. We saw this house,
Speaker 1: really cute. It was a newer It's a two family
Speaker 1: house for one hundred and fifty thousand with all the
Speaker 1: you know, we put our twenty percent down and with
Speaker 1: the current interest rate, our mortgage would be about a
Speaker 1: little over seven hundred dollars a month. One of the
Speaker 1: units rent for a little over one thousand, the other
Speaker 1: unit rents for a little over one thousand. So let's
Speaker 1: just say two thousand dollars. Is the is how much
Speaker 1: the it's how much the income it's going to produce.
Speaker 1: And then we pay seven hundred dollars out for tax,
Speaker 1: insurance and mortgage, So that leaves us with thirteen hundred
Speaker 1: dollars profit if we don't live there, and if we
Speaker 1: live there then it's you know, it's like three hundred
Speaker 1: dollars profit or whatever. But see, I want us to
Speaker 1: set set ourselves up for financial success and then you know,
Speaker 1: we get the next one and the next one. And
Speaker 1: so that's the plan, is to buy a multifamily house
Speaker 1: that yields at least at minimum one thousand dollars a
Speaker 1: month in an income after expenses.
Speaker 2: Well, let me interrupt you so I can read our
Speaker 2: question of the day because it's actually related to your
Speaker 2: investment property. Okay, mission adventure. So this comes from Amy,
Speaker 2: who's actually an old friend of mine who just had
Speaker 2: a baby. She's like, we're actually friends, you know me.
Speaker 2: I'm like, yes, I know you, Amy. So Amy wants
Speaker 2: to know specifically for Tiffany, you mentioned your quest to
Speaker 2: purchase an investment property. Can you talk a little bit
Speaker 2: about your journey in this in terms of setting up
Speaker 2: an LLC finding a lawyer slash accountant slash real estate agent,
Speaker 2: doing your due diligence, etc. And how did you identify
Speaker 2: the right market to invest in? Will you manage yourself
Speaker 2: or hire a property manager? I've read some books on
Speaker 2: the topic, and I work in real estate accounting, but
Speaker 2: I'd love some specific tips on how to get started.
Speaker 1: So one, you want to get your finances into in
Speaker 1: order first, like I said, before getting getting rid of
Speaker 1: your debt, getting your credit score, like if you have
Speaker 1: a seven thirty, wait until you have a seven forty,
Speaker 1: because the difference in interest is gonna it's gonna matter.
Speaker 1: So get yourself to a seven forty. You're better, like
Speaker 1: you know if you can. Also, you know, get your
Speaker 1: savings up because they're also what they're gonna look at
Speaker 1: is they're gonna see have you been consistently saving, So
Speaker 1: they don't want to see three months ago you had
Speaker 1: this random lump sum of twenty thousand dollars put into
Speaker 1: your account because it looks like a friend of yours.
Speaker 3: Let you hold twenty thousand.
Speaker 1: It's gonna take it back, but you just want to
Speaker 1: show you have money, So start your savings. And two,
Speaker 1: if you're at a place of wherever you work, stay
Speaker 1: there because they're gonna want to see that you can
Speaker 1: consistently have income coming in if you work there for
Speaker 1: a while. So that's the back end stuff and the
Speaker 1: as far as choosing a market, we chose Newark because one,
Speaker 1: we're really familiar with Newark. I mean I've lived here
Speaker 1: maybe like five or six years. Superman has lived here
Speaker 1: his whole entire life. I mean he has lived I think,
Speaker 1: basically in every section of Newark, so he knows every block.
Speaker 1: Like when I read off the blocks to him, he's like,
Speaker 1: oh no, no, no, no, oh yeah, yeah, yeah, yeah,
Speaker 1: wait it depends between sixteen and seventeenth Avenue or between
Speaker 1: seventeen and eighteen. So one, you know, we're going with
Speaker 1: this knowledge because here's someone who quite honestly used to
Speaker 1: run the streets, so he knows all of them. But
Speaker 1: you know, because I feel really comfortable because Newark can
Speaker 1: be a very scary place. Newark is like Brooklyn before
Speaker 1: the gentrification, so it could be a very scary place
Speaker 1: to invest as an investor because you know, it's it's
Speaker 1: still very much up and coming, So there are a
Speaker 1: lot of neighborhoods where it might look okay now, but
Speaker 1: it's only because it's cold. And then during the summertime
Speaker 1: the block is live and people are dealing drugs and
Speaker 1: people are stealing cars, and you didn't know that. So
Speaker 1: we chose Newark because it's a place that we're both
Speaker 1: really familiar with, and two because it is up and coming,
Speaker 1: and you could tell us up and coming, like the
Speaker 1: kind of businesses that are being attracted here. Panasonic now
Speaker 1: has their headquarters here. There's a whole food coming to
Speaker 1: downtown Newark, all foods. What is it called. Starbucks just
Speaker 1: moved here, not their headquarters, but like we have a Starbucks.
Speaker 1: So there's certain things that are coming that makes it
Speaker 1: very clear that it's after literally fifty years of being
Speaker 1: in one type of way, it's starting to come up.
Speaker 1: And you could tell even because as we're starting to
Speaker 1: buy and try to buy multi family houses, some of
Speaker 1: them are being bought so quickly, so it's on the
Speaker 1: market one day and then a cash investor will come in,
Speaker 1: and so that's a sign too, like people are starting
Speaker 1: to buy these homes cash, meaning investors are starting to
Speaker 1: see it's time to buy in Newark. So that was
Speaker 1: it too, and too you want to to to google
Speaker 1: your area to see if there's any grants. Like Newark,
Speaker 1: if you are going to be owner occupied, there's a
Speaker 1: five thousand dollars grant for down payment, and there's also
Speaker 1: twenty five thousand dollars grant if you're fixing up the property,
Speaker 1: so potentially thirty thousand dollars that we can qualify for
Speaker 1: to put into the property.
Speaker 3: So they're that's through the housing.
Speaker 1: Uh, Newark has that just in the housing department, so
Speaker 1: like the city has it. You know, the city has
Speaker 1: like the health Department, the Housing department, the So I
Speaker 1: just googled, like Newark grants for home buyers, So wherever
Speaker 1: you're looking, Brooklyn grants for home buyers. So wherever you're looking,
Speaker 1: just look into that. And also too, if you speak
Speaker 1: to a real estate agent. So the best thing to
Speaker 1: do is to get referrals for the people that you need.
Speaker 1: So if you speak to a real estate agent or
Speaker 1: you know, asking them, are their grants because sometimes they'll
Speaker 1: know the exact name and you could google for yourself
Speaker 1: and find them. So my real estate agent is actually
Speaker 1: is the one who told me about the grant, and
Speaker 1: I dug a little deeper. So yeah, you want to
Speaker 1: look into that too, just to see if there's some
Speaker 1: free money out there.
Speaker 3: Oftentimes, if you're if you're investing.
Speaker 1: In an up and coming area, there is free money
Speaker 1: because they want people to invest here. And the people
Speaker 1: you need on your team, I'm gonna try to remember
Speaker 1: all of them, but your real estate agent, you need
Speaker 1: your your either your mortgage broker or your lender. You
Speaker 1: need your lawyer, you need your uh what is that
Speaker 1: person called the inspector? And I'm trying to think who
Speaker 1: else do we have? So these are all people that
Speaker 1: we asked for a referral. So I asked just either
Speaker 1: people that I knew personally or like you know, you
Speaker 1: ask a friend of a friend, who did you use,
Speaker 1: why did you like them? And then from there, you know,
Speaker 1: you kind of do your own little interview and see
Speaker 1: if one you're looking for people who move quickly. The
Speaker 1: first mortgage person that I was interested in, I'm not
Speaker 1: gonna say his name because we ended up like letting
Speaker 1: him go because I emailed him on a Saturday, and
Speaker 1: real estate agents work on Saturday. They're showing homes. I mean,
Speaker 1: I called, I submitted his paperwork, I called, and I
Speaker 1: emailed I didn't hear back.
Speaker 3: I didn't hear got it.
Speaker 1: I called and emailed on a Monday, and then Tuesday
Speaker 1: I called and I text him, and I called and
Speaker 1: finally I emailed him on that Tuesday and said, you know,
Speaker 1: we're gonna move in a different direction, And within like
Speaker 1: ten minutes they wrote back, oh, oh, you know, I'm
Speaker 1: so sorry. And I told him like, yeah, we're just
Speaker 1: looking for someone who's going to be more timely, and
Speaker 1: then he wrot me back a sassy ass text saying like, oh, well,
Speaker 1: you know if you just submitted on Saturday, so I
Speaker 1: don't know who you think it's going to move faster. Well,
Speaker 1: the guy who preapproved us in twenty minutes. That's what
Speaker 1: I'm looking for, because if we're looking at a house,
Speaker 1: I don't have two or three days to wait for
Speaker 1: you not to pick up the phone. So you're looking
Speaker 1: for people who are gonna be timely, and they don't.
Speaker 2: They want to get paid. I know they get paid
Speaker 2: if they help you find a house exactly.
Speaker 1: So I don't know why he was like, you know,
Speaker 1: I'm like, don't be mad because you didn't pick up
Speaker 1: and you know you lost that deal. Also, what you
Speaker 1: don't want to do. Is this this is key? Remember this,
Speaker 1: my dad would say, he who pays the piper determines
Speaker 1: the tune. So basically, if you pay the DJ, they
Speaker 1: have to play your song. So if you whoever is
Speaker 1: getting paid by you is the one they're gonna be,
Speaker 1: that's who they're gonna be loyal to. So don't get
Speaker 1: a referral from your real Your real estate agent is
Speaker 1: going to have a referral for everyone. You don't want
Speaker 1: it because if the the mortgage person, if the inspector
Speaker 1: of all these people come through the real estate agent,
Speaker 1: they are going to be loyal to the real estate
Speaker 1: agent and not what's best for you. So you want
Speaker 1: everybody basically to be a stranger. They might know each other,
Speaker 1: but they're working for you, because if not, then everyone's
Speaker 1: like working for the best interests of the sale and
Speaker 1: not the customer. So you just want to remember that too.
Speaker 1: That was like something. And then also to take a
Speaker 1: first time home buyers class. I took one when I
Speaker 1: bought my first home when I was like twenty five.
Speaker 1: It was invaluable. They're free take one. It was like
Speaker 1: three weeks, three saturdays in a row. But I learned
Speaker 1: so much about the process.
Speaker 2: It's also through HUD housing and urban development.
Speaker 1: Yeah, you can, but they have I mean banks have them.
Speaker 1: You know, banks have them because they're like soft upsales.
Speaker 1: So like I took one through like a City National
Speaker 1: Bank in Newark when I was twenty five, and basically,
Speaker 1: you know, the bank is there because they're hoping, like
Speaker 1: you're taking this course and you'll get a mortgage through them.
Speaker 1: I didn't, but it was a great free class, so
Speaker 1: definitely want to take that. I made well. I went
Speaker 1: with Superman to take the class, and so because I mean,
Speaker 1: I want you to, I want you to know the process.
Speaker 1: And at first he was kicking and screaming, but then
Speaker 1: afterwards he was like, oh, and yeah, the LLC is
Speaker 1: super simple. With the LLC, you just you can go
Speaker 1: online and do your you know, go to Google whatever
Speaker 1: state you live in and register for LLC. If you're
Speaker 1: nervous about it, you can go to your local bank.
Speaker 1: Oftentimes the banks will walk you through because they want
Speaker 1: you to open up the bank business bank account with them,
Speaker 1: So bring your laptop and say, hey, I want to
Speaker 1: open up a business bank account. I want to, but
Speaker 1: I need help, like you know, doing my LLC. Can
Speaker 1: you help walk me through the process, And some banks
Speaker 1: will do that for you, so that way you know
Speaker 1: you have your LLC and when you all of your
Speaker 1: expenses can be written off, All of your home expenses
Speaker 1: can be written off. So I'm super excited because to me,
Speaker 1: this is like the leap toward wealth for Superman. You know,
Speaker 1: this is like the there. So there are a few
Speaker 1: ways to leap toward wealth. You have your regular job,
Speaker 1: and then you make the leap through either investing in
Speaker 1: real estate, owning some sort of business, or really getting
Speaker 1: into stock investing, not just for retirement's sake, but for
Speaker 1: wealth's sake. So those are one of the few ways,
Speaker 1: the three ways that you start to make the leap
Speaker 1: towards next level of wealth. And for him, this is
Speaker 1: right up his alley. So yeah, I hope I answered
Speaker 1: that question.
Speaker 2: Yeah, I'm actually reading through it, just making sure, just
Speaker 2: making sure. Oh, the last one was, well you kind
Speaker 2: of already answered this while you manage it yourself or
Speaker 2: hire a property manager.
Speaker 1: So at first I think, yeah, I think at first
Speaker 1: we're gonna have well, I think. So I was speaking
Speaker 1: to a friend of mine and he said, he there's a.
Speaker 1: He's going to manage the property, the physical property himself.
Speaker 1: But as far as collecting the rent, we're going to
Speaker 1: hire likely hire a company to collect the rent because
Speaker 1: they'll pay to this company, and if they are a
Speaker 1: certain number of days late, this company triggers, like, you know,
Speaker 1: the eviction process, because I don't want people to come
Speaker 1: personally to us and say, oh, I'm so sorry, I'm late.
Speaker 3: It's because no, no, no, no.
Speaker 1: That's a very impersonal part of the process, the financial part.
Speaker 1: But as far as keeping up the physical property, he'll
Speaker 1: do it until we have maybe like two or three
Speaker 1: and then you know, maybe hiring some like property manager,
Speaker 1: maybe depending on whether he wants to continue. But that's
Speaker 1: how in my mind, that's how I'd like to proceed forward.
Speaker 1: That he takes care of the physical, but the financial
Speaker 1: we have somebody doing that.
Speaker 2: And how did you arrive at the goal of having
Speaker 2: a property guest generating at least one thousand dollars? How
Speaker 2: did that become the benchmark?
Speaker 1: I don't know. I just said it. I just said,
Speaker 1: you know, I want to make at least about you know,
Speaker 1: because I thought to myself, I know how much Superman
Speaker 1: makes a month, and I thought to myself, Okay, this
Speaker 1: would make this would make sense, This would make a
Speaker 1: significant boost for him, you know. So I'm like, okay,
Speaker 1: if we do that, then then I cause really I
Speaker 1: did the math of how many properties like this do
Speaker 1: we need before if he wanted to quit, he could
Speaker 1: not that he will, you know, but if he wanted
Speaker 1: to quit, and so I was like, okay, so by
Speaker 1: the time we get to like three or four properties,
Speaker 1: you know, he's if he doesn't want to, you know,
Speaker 1: work for where he works anymore, he can and if
Speaker 1: he does, he has double his income coming in, you know.
Speaker 1: So that's how I kind of came to that conclusion
Speaker 1: because I in my mind, a thousand dollars just seems like, Okay,
Speaker 1: that seems like because I'm in two three hundred, it's
Speaker 1: like that's a lot of work a month, you know,
Speaker 1: potentially for two or three hundred dollars. So in my mind,
Speaker 1: a thousand just seems like it's worth it to go through,
Speaker 1: like you know, fixing things and things break.
Speaker 2: Yeah, that's all exciting. Well you're gonna I'm gonna learn
Speaker 2: drough you like everyone else is. Because I've been skirting
Speaker 2: around the idea of getting an investment property. The problem
Speaker 2: with us is that I want an investment property, but
Speaker 2: Fancee Bou wants a house, and it's just sort of
Speaker 2: like which comes first, And I'm I'm actually pushing to
Speaker 2: buy something in Atlanta. That's my sort of type dream
Speaker 2: because I know it's up, and I mean it's already coming,
Speaker 2: but it's there are some areas that are definitely you
Speaker 2: can still find great deals on single family homes in Atlanta,
Speaker 2: and I'm just I really want to just snap one up.
Speaker 2: It seems like, you know, it seems like a smart
Speaker 2: thing to do. I mean, my little brother could just
Speaker 2: live there if I wanted him to.
Speaker 1: Exactly, and I would say, go for at least a
Speaker 1: two family because here's why two family is not that difficult.
Speaker 1: Like people think to themselves, Oh it's too much work
Speaker 1: to upkeep it thinks yeah, or just like you know,
Speaker 1: sometimes you just sometimes the two families like one on
Speaker 1: top of each other. Sometimes you're side by side. And
Speaker 1: even like if for your first home, like if we
Speaker 1: haven't decided, it depends where the area is if we're
Speaker 1: going to live in it.
Speaker 3: If it's in a decent area, we will.
Speaker 1: If it's not then we won't because I'm not trying
Speaker 1: to live someplace where I don't feel safe. But it
Speaker 1: doesn't mean it's a difference. But I say at least
Speaker 1: the two family because at the very least, you know,
Speaker 1: if your first home that you buy together, you get
Speaker 1: a two family one, you get to learn the ropes
Speaker 1: without overtaxing yourself about because you know this is right
Speaker 1: next door to you. You're like, Okay, things need to
Speaker 1: be fixed. We're here, you know, like the boiler breaks.
Speaker 2: We don't have to challenge. Just if I buy in Atlanta,
Speaker 2: I won't be there. I'd be trusted you take care
Speaker 2: of it.
Speaker 1: This is true. And so it's easier too, I mean,
Speaker 1: and just knowing like how many like rooms, So we're
Speaker 1: looking for obviously at the very least two bedrooms a unit,
Speaker 1: ideally three, just because you can get more, you know,
Speaker 1: more rent that way. Yeah. And it's a look about
Speaker 1: the math because at first I was dead set on
Speaker 1: a four family, but they're very difficult to come by
Speaker 1: in Essex County, very difficult.
Speaker 3: And then when I did the.
Speaker 1: Math, it doesn't a two family could yield fifteen hundred
Speaker 1: in a four family can yield fifteen hundred, but for
Speaker 1: more work. So if you do the math of you know,
Speaker 1: and there's a great website like homes dot com that's
Speaker 1: what I've been using. You can look up the property
Speaker 1: that you're interested in. Like usually my real estate agent
Speaker 1: will send me a property, but I'll look it up
Speaker 1: at homes and homes will actually tell you this is
Speaker 1: a tax rate for that area. This is how much
Speaker 1: if you put down a certain percentage. This is how
Speaker 1: much your mortgage is gonna be with taxes insurance even PMI.
Speaker 1: PMI is an insurance that you have to pay if
Speaker 1: you don't put down at least twenty percent and this
Speaker 1: is what you're gonna have to pay. So you can
Speaker 1: actually see what your mortgage is gonna be. So that
Speaker 1: way I can now do the math. I'm like, okay,
Speaker 1: my mortgage is gonna be this, And then on that
Speaker 1: site for that property it say it'll say unit one,
Speaker 1: it's already rented at one thousand dollars a month, Unit two,
Speaker 1: one thousand, Unit three six hundred. Okay, So if your
Speaker 1: mortgage with everything included is a thousand, and all the
Speaker 1: units collectively are running for renting for twenty six hundred,
Speaker 1: that's a thousand, six hundred, so I can quickly do
Speaker 1: the math on what makes sense. And that's what made
Speaker 1: me switch from saying I have to have a four
Speaker 1: family too. You know what, we can make just as
Speaker 1: much money with the two family if you buy it right.
Speaker 2: Homes dot com.
Speaker 1: Yeah, homes dot com is super simple. Just yeah. So
Speaker 1: I want everybody to be wealthy. I'm telling you, I'm like,
Speaker 1: stick with me, kiddy, You're gonna be.
Speaker 2: It's gonna be the gospel now as soon as you
Speaker 2: start doing it to be Like, let me tell you
Speaker 2: about real estate investing.
Speaker 1: I know, I just you know what it is is
Speaker 1: that investing can I'm not gonna lie. Socks still scare
Speaker 1: the heck out of me still, and it just I
Speaker 1: just don't get it. I'm you know, like, although I
Speaker 1: teach financial education, I'm always really transparent that I don't
Speaker 1: know what the heck I'm talking about when it comes
Speaker 1: to stocks, but when it comes to you know, owning
Speaker 1: a business, obviously this is what I do. And then
Speaker 1: real estate it's tangible to me, so I can understand
Speaker 1: it more So, I always say, if you're gonna invest,
Speaker 1: invest in what you are willing to seek knowledge in
Speaker 1: and what you can learn to understand.
Speaker 2: And even if you don't get it, try to get it,
Speaker 2: because you know it's you don't want to be in
Speaker 2: a situation where you're going in, especially if you're buying
Speaker 2: it with a partner or spouse where they know everything,
Speaker 2: but then you don't and then something happens to them,
Speaker 2: you know, or you break up and then you're kind
Speaker 2: of like out in the cold, or you don't know
Speaker 2: what to do. I think it's funny too. That's there
Speaker 2: are your approach, Superman. You know, early on opening up
Speaker 2: that tribal account quote unquote fiance bou it was it
Speaker 2: was or very early on letting him know how much
Speaker 2: I hated debt and just had it and hated it
Speaker 2: and like, M yeah, that credit credit, the student debt.
Speaker 2: I was fine with the credit card debt, you know,
Speaker 2: I was worried about and I wasn't like naggy about it.
Speaker 2: But he got the message and where he was more
Speaker 2: comfortable using credit for a lot of things that you
Speaker 2: saw that slowly, slowly, slowly solution. And you know, I
Speaker 2: and before we got engaged, I was I made sure.
Speaker 2: I was like, I do not want you going into
Speaker 2: debt for this engagement ring you you know, save. I
Speaker 2: was like, you know, open this Capital one three sixty account,
Speaker 2: you know, and start, you know, suggesting that's a good
Speaker 2: place to save and save a little beat each month
Speaker 2: and auto deposit, and like when you bought the ring,
Speaker 2: I felt really good because I knew he wasn't putting
Speaker 2: himself in debt, because I always had it in my mind,
Speaker 2: I'm going to marry him. His debt's my debt.
Speaker 1: I don't want his debt exactly. It's so funny we're
Speaker 1: so much alike in that way because same thing. I
Speaker 1: was like, you know, Superman, you know, don't I want
Speaker 1: you to pay cash if you're gonna get this ring?
Speaker 1: And I was just so proud. I heard him bragg
Speaker 1: into one of his boys, like on the phone, like
Speaker 1: I guess his boy's gonna ask this girl to marry him.
Speaker 3: And the guy was saying how.
Speaker 1: He's like what, na, man, don't finance just say it.
Speaker 1: That's what I did. I stayed and I brought it
Speaker 1: him food. I was like, yes, I'm mean bragging, Like
Speaker 1: what you need to do is because my biggest thing
Speaker 1: is allocation that whenever I get paid anything, I allocate
Speaker 1: my funds twenty five percent for saving and investing and retirement,
Speaker 1: twenty five percent for taxes, five percent for travel, ten
Speaker 1: percent forgiving. So whenever I get paid, I'm always like, oh,
Speaker 1: I'm gonna go upstands, baby, I'm gonna do some allocating.
Speaker 1: And so like to hear him like reiterate that with
Speaker 1: like his brother and his friends, like you need to allocate,
Speaker 1: you know, I'm gonna sit down to show you, and
Speaker 1: I'm like, I'm look, who's the budget needs to in
Speaker 1: your friends' lives? You know? But yeah, like having the
Speaker 1: right person, they like me. Yeah, I ain't know right,
Speaker 1: I was just thinking that, but I wasn't gonna say
Speaker 1: it's like they are, but honestly having the right person though,
Speaker 1: my sister told me that my sister's married, I don't know,
Speaker 1: five years now, and her and her husband, and her
Speaker 1: husband is a doctor and she's a scientist. So they
Speaker 1: make heligwop and but they live off of one whole income.
Speaker 1: I mean collectively, they save like over one hundred thousand
Speaker 1: dollars a year, one hundred thousand dollars. She's like, yeah,
Speaker 1: I think we're gonna buy our house in cash in cash.
Speaker 1: People think I'll bludge and the stuff like it really
Speaker 1: does run in the family and so and she said, like,
Speaker 1: I mean, my sister drives, like you know, her car
Speaker 1: is not terrible, but she paid for it in cash.
Speaker 1: But it's not a brand new car. And you would
Speaker 1: never think scientists and doctor you know, they live simply
Speaker 1: a nice apartment, but simply right outside of Chicago. And
Speaker 1: what I love is that, she said. She's like, you know,
Speaker 1: be very mindful of who you pick in all aspects.
Speaker 1: So you want to be spiritually aligned. You want to
Speaker 1: be you know, like you know, aligned as far as
Speaker 1: like what you like to do, but you also want
Speaker 1: to be aligned financially. She's like, because he and I
Speaker 1: were able to talk, not to say that you're the
Speaker 1: person that you're with has to and have perfect finances,
Speaker 1: but you have to be on the same page for
Speaker 1: wanting better. They might not know how to get there,
Speaker 1: but they have to want better. And so Superman was
Speaker 1: not terrible financially, but he certainly wasn't great, but he
Speaker 1: just didn't know like, oh this is how you go
Speaker 1: about that I didn't realize. And so yeah, so just
Speaker 1: having that because it's just gonna make all the difference. Like, honestly, Mandy,
Speaker 1: I want to be I'm thirty seven. I want to
Speaker 1: be told him, I'm like, you know, I want our
Speaker 1: net worth to be well over a million dollars by
Speaker 1: the time we're forty, and not for the million dollars stake,
Speaker 1: but so we can be a beacon for our families.
Speaker 3: You know, his family for a long time struggled, and.
Speaker 1: I said, wouldn't it be great if you're able to say,
Speaker 1: you know, I can pay for my nephew's college fund,
Speaker 1: don't worry about it, or like when he graduates high school,
Speaker 1: I got his first car, or like, you know, if
Speaker 1: somebody needs something, we are here to be able to
Speaker 1: provide it because we both are really simple. And so
Speaker 1: that's really what the money means to me. It means
Speaker 1: that I'll be able to really be of help to
Speaker 1: those people are really care about that. If a financial
Speaker 1: situation arises, then I can say, Okay, you know, I
Speaker 1: don't I might not have it all, but I've got
Speaker 1: enough that we don't have to worry.
Speaker 2: Heymen's sister friend.
Speaker 1: I know I thought a lot of it.
Speaker 2: This is a Tiffany show. Actually, it's just I felt
Speaker 2: like I was sitting around the horst. Just listen to it,
Speaker 2: listen to Tiff tell stories. Well, we only have time
Speaker 2: probably just for wins, because I have to run. I'm
Speaker 2: actually hosting. I'm not hosting, giving myself a bigger title,
Speaker 2: but my best friends having engagement party tonight because that's
Speaker 2: what everyone's doing. So she's actually planning my bridal shower bachelorette,
Speaker 2: and then I've been helping her with their engagement party.
Speaker 2: So it's just it's just all happiness, okay, But yeah,
Speaker 2: I have to go pick up her dessert. And I
Speaker 2: think I did a damn good job. I just got
Speaker 2: five dozen cupcakes and I got them to put their
Speaker 2: faces on them, like Georgetown cupcakes. A good cupcakes.
Speaker 1: Oh I'm not trying to think. Have I had one?
Speaker 2: Okay, but you need to get thee there. They're so
Speaker 2: good there.
Speaker 1: What's your win? Is that your win? No?
Speaker 2: What was my wing going to be?
Speaker 1: Oh?
Speaker 2: My win?
Speaker 1: Oh?
Speaker 2: I finally I made my second higher. I hired a
Speaker 2: new reporter this week and he just started and I
Speaker 2: was really really afraid because he's like two and a
Speaker 2: half times my age and it's my first it's my
Speaker 2: first time as a manager in general. But you know,
Speaker 2: my first reporter is younger, and you know that's it's
Speaker 2: just it feels a little bit more natural. But it's
Speaker 2: my first time working with someone who has way more
Speaker 2: just older, but he also has way more experience than me,
Speaker 2: which is why I picked him as a higher But
Speaker 2: he started and saying he's great, and he's really he's
Speaker 2: going to be, you know, awesome reporting some excellent personal
Speaker 2: finance investigative stuff for Magnified Money. So I guess that's
Speaker 2: my win, just taking that, you know, not letting my
Speaker 2: own insecurity as a manager sort of get in the
Speaker 2: way of hiring who I think could be one of
Speaker 2: the best.
Speaker 1: Look at boss lady. I'm gonna call you boss lady.
Speaker 2: Mandy, I'm his first thing. I'm like, an, here's everything
Speaker 2: I want to do, Thank you very much. By I'm
Speaker 2: really naturally all that worry, you.
Speaker 1: Know, right, You're like, I don't know if I'm gonna
Speaker 1: be able to hello you over here now, oh wait, no,
Speaker 1: that's dope. Though I could see you as like a
Speaker 1: good boss, so I see you as you know. It's
Speaker 1: so weird. It's not like when we're on the phone
Speaker 1: because sometimes Mandy and I are professional. Worlds collide, you know,
Speaker 1: like outside of this and then we're on the phone,
Speaker 1: like when we had the phone conversation like me, you
Speaker 1: magnify money and my COO like I was so waiting,
Speaker 1: like it took everything for me not to be like
Speaker 1: hey girl, Mandy even though I because I'm so used
Speaker 1: to that side, and Manny was very like, yes, this
Speaker 1: is done. Yes, that's been completed. Again, I'm like, who's that.
Speaker 1: Oh that's right, this is good. No, it was good.
Speaker 1: But it's just so crazy to see like the other side, like, oh,
Speaker 1: Manny's she's professional me while I'm over there like hey.
Speaker 2: Yeah, girl, you and nick I know you and girl
Speaker 2: left alone, don't.
Speaker 1: You forget it? Me and nick I was like, let's
Speaker 1: just get off the phone. I'm just I'm gonna hang up. Yeah,
Speaker 1: we're That's why we have the Manni's in the Sierra's
Speaker 1: because Sierra reminds me so much of you, my coeo,
Speaker 1: Like she is like about that business, like, Okay, this
Speaker 1: is done.
Speaker 3: Okay, guys, talk to you later.
Speaker 1: I said, look at this, so yeah, you guys allow
Speaker 1: us to be the creatives that we are.
Speaker 2: Yeah, I'm excited to talk more about the partnership too,
Speaker 2: maybe honest on the next podcast, because it's launching where
Speaker 2: you're You're starting next week right with the Livery.
Speaker 1: Challenge, so it's perfect timing.
Speaker 2: So we'll tell you guys more about that next week.
Speaker 2: About the exciting the excitings Magnify, Money Slash, Budget Nesta
Speaker 2: mostly Budgetiesta Part.
Speaker 1: Well, I'm gonna my my quick win is that I'm
Speaker 1: always looking for a new podcast and sometimes, you know you,
Speaker 1: some of them are great and some of them are not.
Speaker 1: So I listened to Tim Farissist podcast, so I love
Speaker 1: his book The Four Hour work Week and hate his podcast.
Speaker 1: Sorry Tim, me too, thank you. It is the world.
Speaker 1: I'm like, what is happening? It's so boying.
Speaker 2: I hate a lot of the the popular business ones.
Speaker 2: I don't know, I.
Speaker 1: Don't know what it was the worst, But I did
Speaker 1: find one that I did like. It's called Making Oprah,
Speaker 1: and it's just a three part series podcast where they
Speaker 1: kind of like bring you from the beginning and when
Speaker 1: she first started to like how to her you know,
Speaker 1: obviously her her rise to fame and wealth and fortune
Speaker 1: and all that kind of stuff. But it's like really interesting.
Speaker 1: They actually get a chance to interview Oprah and those
Speaker 1: people who were there first working with her from the
Speaker 1: very beginning. So if you're just looking for like a
Speaker 1: quick it's like it's it's just a three part series
Speaker 1: making Oprah. So that's my win because I'm sold.
Speaker 2: Yeah, I'm miss her. I know, I don't get the
Speaker 2: own network. I don't see her anymore.
Speaker 1: Really, you know, I don't really watch TV much. But yeah,
Speaker 1: so that's my win because I was like, yes, I
Speaker 1: was listening to it today, like, yes, this is good,
Speaker 1: especially off the heels of the terrible Tim Ferris podcast.
Speaker 1: I'm sorry, I mean, and I love the four hour
Speaker 1: work where you I love his blog, but honestly, I'm like, brother,
Speaker 1: you need some background music something.
Speaker 2: I mean, different strokes are different folks. That's why it's great.
Speaker 2: There's so many different flavors of podcasts out there. And
Speaker 2: you know, I'm glad that you know, we're still on
Speaker 2: I got to give a shout out to iTunes. Really,
Speaker 2: we're still on the main iTunes page under their Black
Speaker 2: Voices in Business category, and that's been up there for
Speaker 2: months and it's just great that they're taking notice of
Speaker 2: the fact that people want different voices, you know, same
Speaker 2: subject but different spins on it and different types. But personally,
Speaker 2: I don't listen to any personal finance podcasts. I listened to.
Speaker 2: I love storytelling podcasts. I love all the Ted the
Speaker 2: Ted Radio Hour podcasts, and I love he just started
Speaker 2: a new one, guy Guy Raz, who hosts the Ted
Speaker 2: Radio Hour on NPR. He started a new one called
Speaker 2: How I Built This, which is similar to kind of
Speaker 2: what it sounds like the Oprah one is each episode
Speaker 2: is talking to a different like person who built the
Speaker 2: company or built the brand. He said, yeah, it's good.
Speaker 2: He had La Reid, he had the guy who made Airbnb.
Speaker 2: He had who's the other girl. It was like a
Speaker 2: cosmetics line that I forget, but really good and really interesting
Speaker 2: because you get to hear the story behind the company
Speaker 2: and not just all the splashy like and then I
Speaker 2: was a billionaire.
Speaker 1: Okay, I want to listen. I love stuff like that
Speaker 1: because it gives you hope, like okay, like, oh sometimes
Speaker 1: it does suck. I'm not just messing up, okay.
Speaker 2: And for me it's like, hm, maybe I should start
Speaker 2: a business, but back to my day job, all.
Speaker 1: Right, I know her like end, it's always awkward, like
Speaker 1: so yes.
Speaker 2: It's really fun talking to you same time next week.
Speaker 1: Yeah yeah I think so.
Speaker 2: Like I'll call you or you can call me, you know,
Speaker 2: text whatever.
Speaker 1: Enjoy your your your bridal shower.
Speaker 2: And yeah I'm mad I have to go outside. It's
Speaker 2: too cold for this. Nice this stuff not me.
Speaker 1: I'm in my pjs.
Speaker 2: I have a good night. I ran happy shopping for
Speaker 2: the house.
Speaker 1: Thank you, okay, bye bye, all right,