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Hiring Indeed is 16 00:00:57,440 --> 00:00:58,080 Speaker 1: all you need. 17 00:01:05,800 --> 00:01:06,679 Speaker 2: Earners, Listen up. 18 00:01:06,920 --> 00:01:09,240 Speaker 3: When people all around the world first started going out 19 00:01:09,240 --> 00:01:12,560 Speaker 3: protesting this summer, you'd hear it over and over. This 20 00:01:12,720 --> 00:01:15,920 Speaker 3: time is different, But how and who are the people 21 00:01:15,959 --> 00:01:18,640 Speaker 3: trying to make it different? And give us new podcast 22 00:01:18,800 --> 00:01:22,680 Speaker 3: resistance posts, SAYI T John Thomas Jr. Brings us stories 23 00:01:22,680 --> 00:01:24,800 Speaker 3: from the front lines of the movement for Black lives, 24 00:01:25,040 --> 00:01:27,720 Speaker 3: told by the generation fighting for the change. It's a 25 00:01:27,720 --> 00:01:30,280 Speaker 3: show about people refusing to accept things as they are 26 00:01:30,600 --> 00:01:33,480 Speaker 3: and how we can make sure this time really is different. 27 00:01:33,840 --> 00:01:42,280 Speaker 3: Resistance is out now, follow and listen for free on Spotify. 28 00:01:43,240 --> 00:01:49,280 Speaker 2: My graduates from my school being forced back drop Mike 29 00:01:49,400 --> 00:01:50,760 Speaker 2: Drop backdrop. 30 00:02:02,040 --> 00:02:04,200 Speaker 4: We're going to talk today about how to get really 31 00:02:04,320 --> 00:02:06,760 Speaker 4: real estate one on one. So kind of average person 32 00:02:07,760 --> 00:02:12,239 Speaker 4: that doesn't come from, you know, affluent family and low 33 00:02:12,280 --> 00:02:15,919 Speaker 4: socio economic environment, how does someone get into real estate? 34 00:02:16,000 --> 00:02:17,760 Speaker 2: Like, what would be the first step? 35 00:02:18,639 --> 00:02:22,040 Speaker 5: Oh man, The first step personally, I think is mindset. 36 00:02:22,040 --> 00:02:24,119 Speaker 5: You got to make the decision because I think that's 37 00:02:24,480 --> 00:02:27,880 Speaker 5: numero ono right. But as far as financing, you need 38 00:02:27,960 --> 00:02:30,280 Speaker 5: to get pre approved, you need to know exactly what 39 00:02:30,320 --> 00:02:33,960 Speaker 5: you can qualify for. There's several different loans out there. 40 00:02:34,639 --> 00:02:37,560 Speaker 5: So let's speak to the first time home buyer right now. 41 00:02:38,480 --> 00:02:41,119 Speaker 5: What I try to coach all my first time home buyases. 42 00:02:41,200 --> 00:02:43,639 Speaker 5: You know, most people want to go ahead and go 43 00:02:43,680 --> 00:02:45,480 Speaker 5: to White Planes or go to Long Island and buy 44 00:02:45,560 --> 00:02:48,399 Speaker 5: the nice single family home with the white pick offense 45 00:02:48,480 --> 00:02:50,320 Speaker 5: and this that and the third, right, which is cool. 46 00:02:50,320 --> 00:02:53,000 Speaker 2: If that's what you want to do, that's what you 47 00:02:53,120 --> 00:02:54,880 Speaker 2: gotta do. What you gotta do. You got the money 48 00:02:54,919 --> 00:02:56,720 Speaker 2: for well, you got to have the money for it though, right. 49 00:02:56,760 --> 00:02:58,880 Speaker 5: But what I try to encourage all my first time 50 00:02:58,880 --> 00:03:00,760 Speaker 5: home buyers, if you don't have a need for a 51 00:03:00,760 --> 00:03:03,040 Speaker 5: certain school district, or if you don't have, you know, 52 00:03:03,639 --> 00:03:06,080 Speaker 5: children that's going to junior high school or high school, 53 00:03:06,360 --> 00:03:08,280 Speaker 5: then you should always start off with a multi family, 54 00:03:08,360 --> 00:03:10,320 Speaker 5: especially if you know you're looking to get into real 55 00:03:10,400 --> 00:03:13,000 Speaker 5: estate investment. You know at some point in your life, 56 00:03:13,360 --> 00:03:16,160 Speaker 5: start off with a multi family anywhere between two to 57 00:03:16,240 --> 00:03:16,960 Speaker 5: four units. 58 00:03:17,040 --> 00:03:18,720 Speaker 2: And you can use programs. 59 00:03:18,280 --> 00:03:20,920 Speaker 5: Like FAHA, which allows you to put down as little 60 00:03:20,919 --> 00:03:23,040 Speaker 5: as three and a half percent as a down payment, 61 00:03:24,120 --> 00:03:26,679 Speaker 5: which is a terrific program. 62 00:03:26,800 --> 00:03:30,440 Speaker 4: So three and a half would be that's pretty small percentage, yeah, 63 00:03:30,440 --> 00:03:33,480 Speaker 4: so as opposed to I had to just outright put 64 00:03:33,600 --> 00:03:35,200 Speaker 4: like what is it normally twenty percent? No? 65 00:03:35,280 --> 00:03:37,640 Speaker 5: No, no, So you have FAHA that allows you to 66 00:03:37,640 --> 00:03:40,480 Speaker 5: put down three and a half percent, and also conventional 67 00:03:40,480 --> 00:03:42,480 Speaker 5: loans allow you to put down a two US three percent, 68 00:03:42,520 --> 00:03:44,720 Speaker 5: but you have to qualify, you have to be a 69 00:03:44,800 --> 00:03:48,240 Speaker 5: certain income restrictions. If you're buying multi families, you have 70 00:03:48,360 --> 00:03:50,920 Speaker 5: the you know, white planes. The income restriction is probably 71 00:03:51,040 --> 00:03:54,320 Speaker 5: ninety six thousand, So if you exceed that, then you 72 00:03:54,360 --> 00:03:57,360 Speaker 5: won't qualify for that three percent down on a multi family. 73 00:03:57,840 --> 00:04:00,000 Speaker 5: Then you'll probably have to put down as fifteen percent 74 00:04:00,040 --> 00:04:00,560 Speaker 5: because it's. 75 00:04:00,400 --> 00:04:01,600 Speaker 2: Gonna be a boy my residence. 76 00:04:01,680 --> 00:04:04,360 Speaker 5: But FAHA is always a good tool because no matter 77 00:04:04,520 --> 00:04:07,320 Speaker 5: it has to have any income restrictions, as long as 78 00:04:07,320 --> 00:04:10,480 Speaker 5: you're within the county's long limits, then you can and 79 00:04:10,520 --> 00:04:13,520 Speaker 5: you can credit and income qualify, which minimum credit scores 80 00:04:13,560 --> 00:04:16,680 Speaker 5: a five to eighty For FJA loans, we're putting down 81 00:04:16,720 --> 00:04:20,039 Speaker 5: as little's three to half percent. Buy that multifamily and 82 00:04:20,080 --> 00:04:22,200 Speaker 5: you can live in it for twelve months and then 83 00:04:22,279 --> 00:04:24,080 Speaker 5: move out of it, and then you can writ the 84 00:04:24,240 --> 00:04:27,320 Speaker 5: entire the entire place out and now you created a 85 00:04:27,360 --> 00:04:30,040 Speaker 5: cash flow investment property for yourself. And now you can 86 00:04:30,080 --> 00:04:32,120 Speaker 5: now go ahead and go buy your one family or 87 00:04:32,160 --> 00:04:33,680 Speaker 5: your condo or whatever you. 88 00:04:33,640 --> 00:04:37,000 Speaker 2: Want, and now put them in on down payment as well. 89 00:04:37,080 --> 00:04:41,279 Speaker 4: So each county has a set loan limits that you said. 90 00:04:41,160 --> 00:04:44,680 Speaker 5: Yeah, so FHA has. Every county is different, right, So 91 00:04:45,000 --> 00:04:48,720 Speaker 5: we're in like five boroughs west Chester long Island, so 92 00:04:49,720 --> 00:04:51,560 Speaker 5: up to a four family, we can go to one 93 00:04:51,560 --> 00:04:54,680 Speaker 5: point three non seven million every county in America, every 94 00:04:54,680 --> 00:04:58,160 Speaker 5: county in America. So if you're you know, your audience 95 00:04:58,200 --> 00:05:00,400 Speaker 5: is probably all over the place, right, So if you 96 00:05:00,400 --> 00:05:02,520 Speaker 5: want to know what your your county loan limit is, 97 00:05:02,640 --> 00:05:03,000 Speaker 5: just you. 98 00:05:02,920 --> 00:05:06,480 Speaker 2: Can google it again. You know, if you're living in Kentucky, you. 99 00:05:06,400 --> 00:05:10,039 Speaker 5: Can google you know, FAK loan limits for Kentucky or 100 00:05:10,040 --> 00:05:13,640 Speaker 5: whatever counties in Kentucky. Or if you're in Georgia, if 101 00:05:13,680 --> 00:05:17,240 Speaker 5: you're in when It County, you can google FAH loan 102 00:05:17,279 --> 00:05:19,640 Speaker 5: limits for when It County, right, and they'll tell you 103 00:05:19,880 --> 00:05:22,919 Speaker 5: for one family, duplex, driplex for a plex, that's what 104 00:05:22,960 --> 00:05:23,680 Speaker 5: they call it out there. 105 00:05:23,680 --> 00:05:24,120 Speaker 2: So that's why. 106 00:05:24,200 --> 00:05:26,599 Speaker 6: So that's interesting because yeah, so that's interested in that 107 00:05:26,680 --> 00:05:28,800 Speaker 6: you say that your first home should. 108 00:05:28,520 --> 00:05:30,440 Speaker 2: Be a multi family, it should be a multi family absolu. 109 00:05:30,600 --> 00:05:32,440 Speaker 6: A lot of people have the reverse mindset where they 110 00:05:32,480 --> 00:05:35,080 Speaker 6: want to get the picket white fans as their first home, 111 00:05:35,160 --> 00:05:38,400 Speaker 6: and then if they want to get like an investment property, 112 00:05:38,440 --> 00:05:39,760 Speaker 6: then they'll look at multi family. 113 00:05:39,880 --> 00:05:40,080 Speaker 2: Yeah. 114 00:05:40,080 --> 00:05:42,600 Speaker 5: But see that's where they screw themselves, right, because now 115 00:05:42,640 --> 00:05:44,839 Speaker 5: when you go ahead and you do that one family first, 116 00:05:44,839 --> 00:05:46,640 Speaker 5: and you go do the multi family second. Now you 117 00:05:46,640 --> 00:05:49,120 Speaker 5: got to put down twenty five percent. Now less you 118 00:05:49,160 --> 00:05:52,280 Speaker 5: have twenty five percent plus closing costs, which is probably 119 00:05:52,440 --> 00:05:55,360 Speaker 5: you probably spend around thirty percent for that transaction. 120 00:05:55,839 --> 00:05:58,280 Speaker 2: Then guess what, you You just screwed yourself. 121 00:05:58,320 --> 00:05:59,920 Speaker 5: Now it's gonna it's gonna be harder for you to 122 00:06:00,160 --> 00:06:02,919 Speaker 5: get into that investment game. Now if you go ahead 123 00:06:02,920 --> 00:06:06,120 Speaker 5: and you buy that that multifamily first using three and 124 00:06:06,200 --> 00:06:08,719 Speaker 5: a half percent plus your closing costs, Now you have 125 00:06:08,920 --> 00:06:12,159 Speaker 5: a multifamily. Potentially it's you're going to live in it 126 00:06:12,160 --> 00:06:14,440 Speaker 5: because it has to be your prominent residence. You have 127 00:06:14,520 --> 00:06:17,680 Speaker 5: to live in it for twelve months. Right after twelve months, 128 00:06:17,680 --> 00:06:20,800 Speaker 5: you can move out free and clear, no problem. Now 129 00:06:20,960 --> 00:06:24,160 Speaker 5: go ahead and buy another one family buy one family 130 00:06:24,240 --> 00:06:27,280 Speaker 5: property and now still do a minimum down payment loan 131 00:06:27,800 --> 00:06:30,800 Speaker 5: because you're moving out of one and moving into the 132 00:06:30,839 --> 00:06:33,719 Speaker 5: other as your primary residence. So the key to anything 133 00:06:34,080 --> 00:06:36,360 Speaker 5: is all on how you're structuring your loans and structuring 134 00:06:36,400 --> 00:06:39,400 Speaker 5: your deal. Right, and if once you say investment property, 135 00:06:39,640 --> 00:06:43,160 Speaker 5: you automatically think twenty five percent down payment, you say 136 00:06:43,200 --> 00:06:46,080 Speaker 5: from difference, that's a huge difference, and especially here and 137 00:06:46,160 --> 00:06:48,360 Speaker 5: where we are. You know, that can be a couple 138 00:06:48,480 --> 00:06:50,640 Speaker 5: hundred grand depending on that sales price. But if you 139 00:06:50,680 --> 00:06:54,760 Speaker 5: go ahead and do multifamily, first minimum down payment, twelve months, 140 00:06:54,839 --> 00:06:57,320 Speaker 5: you move out, move into your single family. Now you 141 00:06:57,360 --> 00:06:59,159 Speaker 5: have an asset that's going to pay for itself and 142 00:06:59,200 --> 00:07:01,960 Speaker 5: probably pay for you one family or a portion of 143 00:07:01,960 --> 00:07:04,279 Speaker 5: that one family. Right now, you created some sort of 144 00:07:04,279 --> 00:07:08,200 Speaker 5: cash flow. I've had clients move from four family to 145 00:07:08,240 --> 00:07:10,640 Speaker 5: a two family, you know, and still was able to 146 00:07:10,720 --> 00:07:14,040 Speaker 5: use minimum down payments. Now, if you use an FAHA loan, 147 00:07:14,560 --> 00:07:16,800 Speaker 5: you can't go ahead move out of that four family 148 00:07:16,840 --> 00:07:19,600 Speaker 5: property FAHA and then going to the two family FAHA 149 00:07:19,600 --> 00:07:22,440 Speaker 5: because FAHA changed their rules a couple of years ago. 150 00:07:22,720 --> 00:07:26,760 Speaker 5: You can't have two FAHA loans at the same time now, right. 151 00:07:26,760 --> 00:07:29,520 Speaker 2: But you could use it again if you rea. 152 00:07:29,760 --> 00:07:32,600 Speaker 5: What I tell everybody is this, right, you buy that 153 00:07:32,640 --> 00:07:35,880 Speaker 5: four family or that multi family, you stay in there, 154 00:07:36,160 --> 00:07:39,680 Speaker 5: you refinance it, You get out of the FAH loan, 155 00:07:39,760 --> 00:07:42,960 Speaker 5: and you go into a conventional mortgage. Right, probably try 156 00:07:42,960 --> 00:07:45,240 Speaker 5: to pull some equity out of that home so that way, 157 00:07:45,320 --> 00:07:47,560 Speaker 5: now you can use that equity as a down payment 158 00:07:47,600 --> 00:07:51,360 Speaker 5: for your new property. Now you're refinancing as a primary 159 00:07:51,640 --> 00:07:55,080 Speaker 5: primary residence because you're still technically living in there, but 160 00:07:55,120 --> 00:07:57,800 Speaker 5: your intent is obviously at some point to move out 161 00:07:57,840 --> 00:08:01,080 Speaker 5: of it. Now you're taking that equity, you have a 162 00:08:01,160 --> 00:08:03,680 Speaker 5: conventional loan on it. Now, now you're going to buy 163 00:08:03,680 --> 00:08:06,080 Speaker 5: your one family. Great, you're going to go move in 164 00:08:06,080 --> 00:08:08,320 Speaker 5: that one family. Now you can use FHA for that 165 00:08:08,360 --> 00:08:11,160 Speaker 5: one family because this four family or multi family is 166 00:08:11,160 --> 00:08:14,200 Speaker 5: now in the conventional mortgage and you took the equity. 167 00:08:13,800 --> 00:08:16,840 Speaker 2: Out of there to help you purchase that one family. 168 00:08:16,880 --> 00:08:19,560 Speaker 5: And now your tenants are not only paying for this property, 169 00:08:20,000 --> 00:08:22,120 Speaker 5: now they're going to help pay for this property depending 170 00:08:22,160 --> 00:08:26,000 Speaker 5: on the rentals and cash flow of that property. It's 171 00:08:26,040 --> 00:08:27,920 Speaker 5: all about strategy at the end of the day. And 172 00:08:27,960 --> 00:08:30,440 Speaker 5: most people don't lead with strategy. Most people lead with 173 00:08:30,520 --> 00:08:33,840 Speaker 5: emotional And this is business at the end of the day. 174 00:08:33,960 --> 00:08:37,480 Speaker 5: Like you know, I try to coach all my buyers 175 00:08:38,040 --> 00:08:40,160 Speaker 5: think business. I don't care if you're going to live there. 176 00:08:40,200 --> 00:08:42,680 Speaker 5: I don't care about any of that stuff. Men live, 177 00:08:42,760 --> 00:08:44,800 Speaker 5: women live. Numbers don't at the end of the day. 178 00:08:44,840 --> 00:08:47,520 Speaker 5: And if you're telling me your goals are to invest 179 00:08:47,559 --> 00:08:50,160 Speaker 5: in are to invest in real estate, then you. 180 00:08:50,120 --> 00:08:51,400 Speaker 2: Need to think like an investor. 181 00:08:51,880 --> 00:08:54,600 Speaker 5: Every first time home buyers should be thinking like an investor, 182 00:08:55,000 --> 00:08:58,920 Speaker 5: Why go buy the flip? Why when there's programs out 183 00:08:58,920 --> 00:09:00,480 Speaker 5: there for the first time home by like an f 184 00:09:00,640 --> 00:09:02,680 Speaker 5: h A two or three K long or Fanny Made 185 00:09:02,679 --> 00:09:05,520 Speaker 5: Homestyle loan where you can get renovation and your mortgage 186 00:09:05,520 --> 00:09:08,360 Speaker 5: money all in one, all in one loan. Yeah, so 187 00:09:08,440 --> 00:09:11,520 Speaker 5: why not go on buy? Look, we spoke about Envy 188 00:09:11,559 --> 00:09:14,880 Speaker 5: and Caesar. These guys are not buying the flip right, 189 00:09:15,200 --> 00:09:16,760 Speaker 5: They're going ahead and they're buying at. 190 00:09:16,640 --> 00:09:18,839 Speaker 2: The foreclosure auctions. They're buying short sales. 191 00:09:18,880 --> 00:09:21,320 Speaker 5: They buy the worst house in the best in the 192 00:09:21,360 --> 00:09:23,679 Speaker 5: best areas that they can, and they're putting that money 193 00:09:23,679 --> 00:09:25,760 Speaker 5: into it and now they're making their r O Y. 194 00:09:26,280 --> 00:09:28,360 Speaker 5: Why can't every first time home buy I think the 195 00:09:28,360 --> 00:09:31,160 Speaker 5: same way like the investor. Why does the nvs and 196 00:09:31,160 --> 00:09:33,280 Speaker 5: the Cazons of the world need to make all the money? 197 00:09:33,520 --> 00:09:36,000 Speaker 5: Why can't the first time home buy have that same 198 00:09:36,080 --> 00:09:38,880 Speaker 5: strategy and make the same returns. But you're gonna live 199 00:09:38,920 --> 00:09:40,880 Speaker 5: in it for a year, two years, three years, whatever 200 00:09:40,960 --> 00:09:41,640 Speaker 5: the case may be. 201 00:09:42,000 --> 00:09:43,840 Speaker 2: But now you're buying under market. 202 00:09:44,679 --> 00:09:46,920 Speaker 6: That's the whole So you would encourage anybody to go 203 00:09:47,000 --> 00:09:49,440 Speaker 6: into buying a home as an investment. Like, even if 204 00:09:49,440 --> 00:09:51,959 Speaker 6: somebody doesn't necessarily look at themselves a real estate investor, 205 00:09:52,679 --> 00:09:54,280 Speaker 6: I guess they are a real estate investor. 206 00:09:54,040 --> 00:09:58,080 Speaker 7: By buying homes investment. Whether you think you're investor or not, 207 00:09:58,120 --> 00:09:59,079 Speaker 7: you're investment. 208 00:09:58,800 --> 00:09:59,600 Speaker 2: You're investing or not. 209 00:09:59,720 --> 00:10:02,719 Speaker 5: So some people will tell you out there that your 210 00:10:02,720 --> 00:10:04,960 Speaker 5: primary residence or a single family home is not an 211 00:10:04,960 --> 00:10:09,120 Speaker 5: investment because it doesn't generate cash flow, right, which is true. 212 00:10:09,160 --> 00:10:11,400 Speaker 5: But to me, I don't think that's one hundred percent 213 00:10:11,400 --> 00:10:14,680 Speaker 5: true because you're looking at that equity, right. That equity 214 00:10:14,760 --> 00:10:16,800 Speaker 5: is what that first time home buy I should be 215 00:10:16,840 --> 00:10:19,240 Speaker 5: paying attention to. And when that equity gets to a 216 00:10:19,240 --> 00:10:22,160 Speaker 5: certain position, you need to act on it. You need 217 00:10:22,200 --> 00:10:25,120 Speaker 5: to do something with it. Because equity is monopoly money. 218 00:10:25,320 --> 00:10:28,640 Speaker 5: It's not guaranteed. The market crash twelve years ago, right 219 00:10:28,800 --> 00:10:31,920 Speaker 5: when every home was depreciating across America. So if that 220 00:10:31,960 --> 00:10:34,400 Speaker 5: doesn't tell people that equity is monopoly money, I don't 221 00:10:34,440 --> 00:10:36,520 Speaker 5: know what's going to tell them. So I have people 222 00:10:36,559 --> 00:10:39,280 Speaker 5: right now that may purchase a home in twenty eleven, 223 00:10:39,400 --> 00:10:42,400 Speaker 5: twenty twelve. Now they may have two hundred three hundred 224 00:10:42,400 --> 00:10:43,960 Speaker 5: thousand equity, and they don't want to touch it. 225 00:10:43,960 --> 00:10:45,240 Speaker 2: I'm like, what are you doing? 226 00:10:45,880 --> 00:10:48,400 Speaker 5: You need to take that money and do something with it, 227 00:10:48,480 --> 00:10:51,600 Speaker 5: because if the market corrects yourself, which it will at 228 00:10:51,640 --> 00:10:54,000 Speaker 5: some point, now, you're going to kick yourself that you 229 00:10:54,040 --> 00:10:56,480 Speaker 5: didn't jump in the game. Take that money to invest 230 00:10:56,480 --> 00:11:00,520 Speaker 5: in these opportunities zones right and build that generational wealthare yourself. 231 00:11:01,240 --> 00:11:04,120 Speaker 5: Because the market doesn't care about what's going on, the 232 00:11:04,160 --> 00:11:06,040 Speaker 5: market is going to do what the market wants to do. 233 00:11:06,200 --> 00:11:09,560 Speaker 5: So what I try to coach all my buias, my sellers, 234 00:11:09,640 --> 00:11:14,000 Speaker 5: my current homeowners whoever, don't let equity sit there because 235 00:11:14,040 --> 00:11:14,959 Speaker 5: it's not guaranteed. 236 00:11:15,320 --> 00:11:17,200 Speaker 2: You got to use it. If you don't use it, 237 00:11:17,240 --> 00:11:21,120 Speaker 2: then it's not it's nothing. It's monopoly money. That's real. 238 00:11:23,160 --> 00:11:25,160 Speaker 5: Don't the single family home is great, and I don't 239 00:11:25,200 --> 00:11:27,760 Speaker 5: have nothing against the single family home, but I think 240 00:11:27,800 --> 00:11:32,640 Speaker 5: the strategy moving forward should be multi family first, single families, 241 00:11:32,720 --> 00:11:34,319 Speaker 5: laiter down the road because you can always buy a 242 00:11:34,400 --> 00:11:36,720 Speaker 5: single family home. There's never going to be a shortage 243 00:11:36,720 --> 00:11:39,439 Speaker 5: of that. Look, what's happening in the housing is expensive. 244 00:11:39,800 --> 00:11:43,120 Speaker 5: Rent are going up. The rental market is booming right now, 245 00:11:43,160 --> 00:11:45,960 Speaker 5: So why not put yourself in that position to be 246 00:11:46,600 --> 00:11:51,000 Speaker 5: owner occupied landlord where you can basically live for free. 247 00:11:51,320 --> 00:11:53,800 Speaker 5: Now have your job, Now you can save all that 248 00:11:53,880 --> 00:11:55,319 Speaker 5: money to reinvest into. 249 00:11:55,120 --> 00:11:56,920 Speaker 6: Other realpers I think it goes back to where I 250 00:11:57,000 --> 00:11:58,679 Speaker 6: guess last week talked about as well. A lot of 251 00:11:58,720 --> 00:12:02,679 Speaker 6: times we care about we're perceived exactly, and it's like, okay, well, 252 00:12:02,720 --> 00:12:05,400 Speaker 6: how would I look living in a three family home. 253 00:12:05,480 --> 00:12:08,400 Speaker 6: I'd rather have the white picket fence with the backyard 254 00:12:08,440 --> 00:12:08,840 Speaker 6: and all. 255 00:12:08,679 --> 00:12:10,480 Speaker 2: That well, with the Mercedes side. 256 00:12:13,800 --> 00:12:16,400 Speaker 6: When you look at it from a financial standpoint, from 257 00:12:16,440 --> 00:12:26,280 Speaker 6: a lot of different reasons, it does make sense, all right, guys. 258 00:12:26,280 --> 00:12:27,960 Speaker 6: So a lot of people asks us how do they 259 00:12:28,000 --> 00:12:30,640 Speaker 6: make a podcast? So I'm letting on a secret on 260 00:12:30,760 --> 00:12:34,960 Speaker 6: the easiest, most productive way to start a podcast and 261 00:12:35,000 --> 00:12:37,200 Speaker 6: get it up and running, and that is the app 262 00:12:37,240 --> 00:12:40,480 Speaker 6: called Anchor is Free. They have all kinds of cool 263 00:12:40,480 --> 00:12:42,959 Speaker 6: creation tools that allow you to record and edit your 264 00:12:43,000 --> 00:12:46,040 Speaker 6: podcast right from your phone or computer. They will distribute 265 00:12:46,080 --> 00:12:48,360 Speaker 6: your podcast for you to all of the major outlets 266 00:12:48,400 --> 00:12:52,199 Speaker 6: including Spotify, Apple, Google, many more, and you can make 267 00:12:52,280 --> 00:12:55,800 Speaker 6: money from your podcast with no minimum listenership. It's everything 268 00:12:55,840 --> 00:12:58,960 Speaker 6: you need to make a podcast in one simple, easy place. 269 00:12:59,440 --> 00:13:03,199 Speaker 6: So if you're interested, in starting the podcast. Go download 270 00:13:03,240 --> 00:13:07,520 Speaker 6: the free Anchor app or go to anchor dot fm 271 00:13:07,559 --> 00:13:08,319 Speaker 6: to get started. 272 00:13:08,400 --> 00:13:08,959 Speaker 7: Let's do it. 273 00:13:12,520 --> 00:13:15,480 Speaker 5: Oh absolutely, and the piggyback off of episode eleven, which 274 00:13:15,520 --> 00:13:19,760 Speaker 5: was a phenomenal, phenomenal, phenomenal phenomenal episode that So if 275 00:13:19,800 --> 00:13:22,319 Speaker 5: you guys haven't watched it eleven, you need to watch 276 00:13:22,360 --> 00:13:25,040 Speaker 5: that before you watch this to watch all the other 277 00:13:25,120 --> 00:13:25,520 Speaker 5: ten two. 278 00:13:26,240 --> 00:13:28,559 Speaker 2: Episode eleven was fire right, So. 279 00:13:29,160 --> 00:13:31,640 Speaker 5: What he he brought up a great point, right, mixed 280 00:13:31,720 --> 00:13:35,679 Speaker 5: use properties, which mixed use properties are common where we 281 00:13:35,720 --> 00:13:38,800 Speaker 5: are in New York. You can use faha long to 282 00:13:38,800 --> 00:13:41,080 Speaker 5: purchase a mix use property, which a lot of people 283 00:13:41,120 --> 00:13:43,240 Speaker 5: don't know, and put down three and a half percent 284 00:13:43,679 --> 00:13:46,560 Speaker 5: as long as fifty one percent of that mixed use 285 00:13:46,640 --> 00:13:49,679 Speaker 5: is residential. So you can go ahead and buy that 286 00:13:49,720 --> 00:13:52,160 Speaker 5: mixed use that may have a storefront, but two apartments 287 00:13:52,200 --> 00:13:55,720 Speaker 5: or three apartments as residential. And if you're a business owner, 288 00:13:55,760 --> 00:13:58,640 Speaker 5: if you're like he said, he runs a restaurant, now 289 00:13:58,720 --> 00:14:00,880 Speaker 5: he can live in that one of the units, have 290 00:14:01,040 --> 00:14:04,680 Speaker 5: the restaurant and still have two rental incomes coming in 291 00:14:04,760 --> 00:14:06,000 Speaker 5: to help support everything. 292 00:14:06,080 --> 00:14:06,959 Speaker 2: Now living for free. 293 00:14:07,040 --> 00:14:09,840 Speaker 5: His business is for free, and the mortgage is being 294 00:14:09,840 --> 00:14:11,760 Speaker 5: paid off, and you can use the two or three 295 00:14:11,840 --> 00:14:12,880 Speaker 5: k long to renovate it. 296 00:14:12,920 --> 00:14:15,199 Speaker 2: So you can go buy the piece of shit to 297 00:14:15,440 --> 00:14:17,320 Speaker 2: use property and use. 298 00:14:17,200 --> 00:14:19,520 Speaker 5: That renovation money is to fix it up, clean it 299 00:14:19,600 --> 00:14:21,560 Speaker 5: up and open up a business or rent it out 300 00:14:21,560 --> 00:14:24,560 Speaker 5: to another business owner the commercial aspect of it. And 301 00:14:24,600 --> 00:14:29,000 Speaker 5: now commercial rents are much higher than residential rents. So again, 302 00:14:29,120 --> 00:14:30,440 Speaker 5: living in for one year, now. 303 00:14:30,320 --> 00:14:30,880 Speaker 2: You move out. 304 00:14:31,080 --> 00:14:34,840 Speaker 5: Now you have a commercial property or under three and 305 00:14:34,880 --> 00:14:37,360 Speaker 5: a half under an FHA loan with three and. 306 00:14:37,320 --> 00:14:39,440 Speaker 2: A half persent down. Plush your clothing costs. We got 307 00:14:39,440 --> 00:14:41,080 Speaker 2: to know the game, man, You gotta know the game. 308 00:14:41,120 --> 00:14:43,000 Speaker 2: It's all about It's all about strategy. 309 00:14:43,080 --> 00:14:45,760 Speaker 5: And most people, especially listen, we're in the age of 310 00:14:45,880 --> 00:14:47,320 Speaker 5: the business owner the entrepreneur. 311 00:14:47,440 --> 00:14:50,000 Speaker 2: Right. Most people don't think you still need. 312 00:14:49,840 --> 00:14:52,200 Speaker 5: A brick and mortar, but some businesses you need a 313 00:14:52,200 --> 00:14:54,800 Speaker 5: brick and mortar, right, depending on if you're in a 314 00:14:54,840 --> 00:14:56,760 Speaker 5: service industry or whatever the case may be. If you're 315 00:14:56,800 --> 00:14:58,880 Speaker 5: in retail, if you want to open a store or restaurant, 316 00:14:59,120 --> 00:15:00,840 Speaker 5: like you said, one of the t off his businesses, 317 00:15:00,880 --> 00:15:03,680 Speaker 5: because the overhead right and rent is a big thing. 318 00:15:04,120 --> 00:15:06,880 Speaker 5: But if you have a mixed use property and you 319 00:15:06,880 --> 00:15:09,760 Speaker 5: want to open up a restaurant, why not use that 320 00:15:09,800 --> 00:15:12,760 Speaker 5: as your primary residents also for at least twelve months. 321 00:15:12,760 --> 00:15:13,920 Speaker 2: For that twelve month. 322 00:15:13,800 --> 00:15:17,960 Speaker 5: Sacrifice, get the loan living there because you always can 323 00:15:18,000 --> 00:15:21,560 Speaker 5: move out. And now you have a business that's basically 324 00:15:21,640 --> 00:15:25,320 Speaker 5: in there for free rental and rental property. So you 325 00:15:25,400 --> 00:15:27,880 Speaker 5: get you know, you're killing two birds with one stone, 326 00:15:27,960 --> 00:15:30,080 Speaker 5: so to speak. You get rental and your business in there, 327 00:15:30,120 --> 00:15:32,880 Speaker 5: and your your business is not going to have all 328 00:15:32,880 --> 00:15:36,440 Speaker 5: that overhead, the pressure of paying the rent because you 329 00:15:36,480 --> 00:15:38,200 Speaker 5: know what, it's your mortgage and your tenants are paying 330 00:15:38,240 --> 00:15:38,960 Speaker 5: for it upstairs. 331 00:15:39,760 --> 00:15:40,920 Speaker 2: So it's all about strategy. 332 00:15:41,000 --> 00:15:42,080 Speaker 7: Not all good in real estate. 333 00:15:42,080 --> 00:15:46,120 Speaker 6: It's never always a dangerous Now we're going to we're 334 00:15:46,120 --> 00:15:49,320 Speaker 6: going to explain that how things can go wrong, all right. 335 00:15:49,520 --> 00:15:52,240 Speaker 7: So, as I said, it's never all good in anything 336 00:15:52,280 --> 00:15:52,600 Speaker 7: in life. 337 00:15:52,720 --> 00:15:52,880 Speaker 2: Right. 338 00:15:53,560 --> 00:15:59,080 Speaker 6: So, real estate is something that's very popular, very trendy 339 00:15:59,240 --> 00:16:02,160 Speaker 6: right now, and very has this stigma I think of 340 00:16:02,320 --> 00:16:04,400 Speaker 6: everybody thinks they're just gonna get rich overnight, right, and 341 00:16:04,440 --> 00:16:07,280 Speaker 6: people don't know it's like any business. You know, when 342 00:16:07,280 --> 00:16:09,440 Speaker 6: you go into business without a plan, your destined to field. 343 00:16:09,520 --> 00:16:09,760 Speaker 2: Right. 344 00:16:10,000 --> 00:16:12,080 Speaker 7: So if you plan to be a real estate investor. 345 00:16:12,240 --> 00:16:14,240 Speaker 7: And as you said, whether you think you're investor or not, 346 00:16:14,320 --> 00:16:16,280 Speaker 7: if you're buying a home, you're an investor. But you 347 00:16:16,320 --> 00:16:19,160 Speaker 7: don't have a plan in place, then you're gonna aid 348 00:16:19,200 --> 00:16:23,200 Speaker 7: probably make mistakes and worst propulica scenarios, you're gonna fail correct. Right, 349 00:16:23,360 --> 00:16:26,360 Speaker 7: So this dudes and don't involve right, absolutely? Can you 350 00:16:26,400 --> 00:16:29,040 Speaker 7: just talk about some dudes and don't in the real 351 00:16:29,120 --> 00:16:29,680 Speaker 7: estate game. 352 00:16:29,680 --> 00:16:30,720 Speaker 2: Yeah, there's tons of them. 353 00:16:30,800 --> 00:16:32,880 Speaker 5: Right, But if you're a first time home by one 354 00:16:32,880 --> 00:16:35,680 Speaker 5: of the don'ts I tell people is, especially if you're 355 00:16:35,840 --> 00:16:40,480 Speaker 5: in the application process, you found the house, you're in contract, 356 00:16:41,160 --> 00:16:45,480 Speaker 5: don't open their debt, don't buy your Mercedes, bends before 357 00:16:45,480 --> 00:16:48,400 Speaker 5: you go to closing. Don't change your jobs, you know, 358 00:16:48,600 --> 00:16:51,640 Speaker 5: don't do something that would impact you in a negative 359 00:16:51,680 --> 00:16:55,680 Speaker 5: way to turn your approval to a decline. Right, And 360 00:16:55,760 --> 00:16:58,280 Speaker 5: most people you think is common sense, right, but common 361 00:16:58,280 --> 00:17:01,080 Speaker 5: sense is not common Unfortunately they're not. 362 00:17:01,080 --> 00:17:03,840 Speaker 4: It's true most people, like they don't realize, like when 363 00:17:03,840 --> 00:17:04,840 Speaker 4: you apply for a car. 364 00:17:05,040 --> 00:17:06,600 Speaker 2: They do a credit sure yea, then they have to 365 00:17:06,640 --> 00:17:06,960 Speaker 2: pull your. 366 00:17:07,560 --> 00:17:09,000 Speaker 5: Now they don't realize when you go for a car, 367 00:17:09,119 --> 00:17:12,200 Speaker 5: they may pull your credit. What ten other banks to shop. 368 00:17:13,440 --> 00:17:15,680 Speaker 3: This episode is brought to you by P and C Bank. 369 00:17:16,080 --> 00:17:18,840 Speaker 3: A lot of people think podcasts about work are boring, 370 00:17:19,040 --> 00:17:22,879 Speaker 3: and sure they definitely can be, but understanding a professionals 371 00:17:22,960 --> 00:17:26,200 Speaker 3: routine shows us how they achieve their success little by little, 372 00:17:26,600 --> 00:17:30,240 Speaker 3: day after day. It's like banking with P and C Bank. 373 00:17:30,720 --> 00:17:33,520 Speaker 3: It might seem boring to safe plan and make calculated 374 00:17:33,560 --> 00:17:36,639 Speaker 3: decisions with your bank, but keeping your money boring is 375 00:17:36,680 --> 00:17:40,000 Speaker 3: what helps you live or more happily fulfilled life. P 376 00:17:40,119 --> 00:17:44,960 Speaker 3: and C Bank Brilliantly Boring since eighteen sixty five. 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Hiring Indeed is 414 00:20:01,160 --> 00:20:03,120 Speaker 1: all you need to see. 415 00:20:03,160 --> 00:20:06,560 Speaker 5: What's the best deal for for the auto finance company, 416 00:20:06,600 --> 00:20:07,639 Speaker 5: not for you. 417 00:20:08,040 --> 00:20:10,879 Speaker 2: As the consumer. Right now, that school and it affects 418 00:20:10,880 --> 00:20:12,120 Speaker 2: your credit card brings you down. 419 00:20:12,119 --> 00:20:14,959 Speaker 5: I mean, I've had situations where people applied and purchase 420 00:20:15,040 --> 00:20:18,199 Speaker 5: Mercedes Benz a week before closing. I've had people who 421 00:20:18,280 --> 00:20:21,800 Speaker 5: got cold credit cards just because it was colds box involved. 422 00:20:24,480 --> 00:20:26,399 Speaker 5: You know what I'm saying, Well, I'm like, what are 423 00:20:26,400 --> 00:20:28,240 Speaker 5: you doing? You couldn't wait to get the bed chees 424 00:20:28,840 --> 00:20:31,760 Speaker 5: the house yet, so you don't. What I try to 425 00:20:31,760 --> 00:20:35,320 Speaker 5: tell people is this, when you're in contract, you don't 426 00:20:35,359 --> 00:20:37,920 Speaker 5: own that house just because you're in contract, just because 427 00:20:37,920 --> 00:20:38,920 Speaker 5: you have a loan commitment. 428 00:20:39,200 --> 00:20:40,080 Speaker 2: Do not get happy. 429 00:20:40,119 --> 00:20:42,760 Speaker 5: Do not make any changes that can affect you in 430 00:20:42,760 --> 00:20:45,879 Speaker 5: a negative way, because you can get declined just as 431 00:20:45,960 --> 00:20:48,280 Speaker 5: quick as you got to prove right and The underwriters 432 00:20:48,280 --> 00:20:50,960 Speaker 5: are always looking for a reason to decline you, so 433 00:20:51,320 --> 00:20:54,200 Speaker 5: you have to be squeaky clean. Don't be moving money around. 434 00:20:54,240 --> 00:20:57,280 Speaker 5: That's another big thing. Do not move money around. Keep 435 00:20:57,359 --> 00:20:59,840 Speaker 5: your money in one account. Stop doing your so suits 436 00:20:59,880 --> 00:21:02,399 Speaker 5: and putting here and doing this and doing that. 437 00:21:02,560 --> 00:21:04,320 Speaker 2: You know what I'm saying, don't do it. Don't put 438 00:21:04,320 --> 00:21:05,600 Speaker 2: the Mattress money in there. 439 00:21:05,840 --> 00:21:09,240 Speaker 5: No, like, leave your accounts alone, because now we start 440 00:21:09,280 --> 00:21:12,399 Speaker 5: seeing money moving around. That's red flags. Now we have 441 00:21:12,480 --> 00:21:14,320 Speaker 5: to document. We have to see where this money is 442 00:21:14,359 --> 00:21:14,760 Speaker 5: coming from. 443 00:21:14,800 --> 00:21:17,600 Speaker 2: If you can't document that money, then we can't use 444 00:21:17,640 --> 00:21:19,280 Speaker 2: it right, and that can blow up your deal too. 445 00:21:19,640 --> 00:21:23,919 Speaker 5: So the don'ts is it's just keep still, you know what, 446 00:21:24,560 --> 00:21:27,720 Speaker 5: Keep still, relaxed. You're almost at the closing table, and 447 00:21:27,800 --> 00:21:29,439 Speaker 5: when you close, you can do whatever the hell you 448 00:21:29,480 --> 00:21:29,840 Speaker 5: want to do. 449 00:21:30,080 --> 00:21:30,240 Speaker 2: Right. 450 00:21:31,080 --> 00:21:34,480 Speaker 5: Another one of the don'ts I would say for first 451 00:21:34,560 --> 00:21:38,240 Speaker 5: time investors right, stop thinking you don't need money. 452 00:21:38,320 --> 00:21:39,800 Speaker 2: You need money, right. 453 00:21:39,920 --> 00:21:42,520 Speaker 5: If you're looking to wholesale real estate, then maybe you 454 00:21:42,560 --> 00:21:45,359 Speaker 5: don't need money right because you're signing contracts. But if 455 00:21:45,359 --> 00:21:47,399 Speaker 5: you're looking to do buy and flips, or if you're 456 00:21:47,440 --> 00:21:50,840 Speaker 5: looking to do buy and holds, you're gonna need capital, right, 457 00:21:50,920 --> 00:21:52,680 Speaker 5: There's many ways you can get capital. 458 00:21:52,720 --> 00:21:54,440 Speaker 2: I mean you spoke about it at my workshop. 459 00:21:54,440 --> 00:21:57,160 Speaker 5: You can do self directed iraise, you can borrow from 460 00:21:57,200 --> 00:22:00,600 Speaker 5: your four one K, you can you can raise capital 461 00:22:00,600 --> 00:22:01,560 Speaker 5: with a group of friends. 462 00:22:02,200 --> 00:22:04,960 Speaker 2: What I'm starting to see right now is becoming more popular. 463 00:22:05,000 --> 00:22:07,800 Speaker 5: But people are co owning properties together, you know, moving 464 00:22:07,800 --> 00:22:10,720 Speaker 5: into multi families, working together. You know a lot of 465 00:22:10,720 --> 00:22:12,640 Speaker 5: different cultures co own right. 466 00:22:12,680 --> 00:22:15,520 Speaker 6: But can you talk about that collaboration because I'm talking 467 00:22:15,520 --> 00:22:18,360 Speaker 6: about collaboration in business absolutely, actually last week so now, 468 00:22:18,400 --> 00:22:22,960 Speaker 6: but collaboration and real estate, Yeah, something that is very key, 469 00:22:23,240 --> 00:22:24,600 Speaker 6: very important leverage. 470 00:22:24,640 --> 00:22:25,720 Speaker 7: Can you just talk about that? 471 00:22:25,880 --> 00:22:26,040 Speaker 2: Yeah? 472 00:22:26,080 --> 00:22:29,560 Speaker 5: Absolutely. Our collaboration is greater than competition. I speak about 473 00:22:29,560 --> 00:22:33,040 Speaker 5: this often. That's why we're here right now, because we're 474 00:22:33,040 --> 00:22:35,560 Speaker 5: collaborating because it doesn't make sense to compete when we 475 00:22:35,680 --> 00:22:37,560 Speaker 5: all have something that we could bring to the table. 476 00:22:37,880 --> 00:22:40,080 Speaker 5: So if your first time home buyer, let's just say 477 00:22:40,119 --> 00:22:42,480 Speaker 5: your brother is a first time home buy and you 478 00:22:42,600 --> 00:22:44,439 Speaker 5: both want to be in that same area, why go 479 00:22:44,440 --> 00:22:46,520 Speaker 5: buy two single families? Why not go buy a full 480 00:22:46,560 --> 00:22:48,800 Speaker 5: family together, live on each floor, and now you have 481 00:22:48,840 --> 00:22:51,159 Speaker 5: two rental incomes, and now you both can probably live 482 00:22:51,200 --> 00:22:52,919 Speaker 5: for free or pay minimum together. 483 00:22:53,320 --> 00:22:56,440 Speaker 2: Now you can split that equity when it's time to sell. 484 00:22:56,440 --> 00:22:59,560 Speaker 5: Or buy each other out. With real estate investing, you 485 00:22:59,600 --> 00:23:01,600 Speaker 5: don't need to be one hundred percent owner. I think 486 00:23:01,640 --> 00:23:04,520 Speaker 5: that's the biggest misconception that people think, Like, if you're 487 00:23:04,520 --> 00:23:07,879 Speaker 5: going to we all can. We can collaborate and create 488 00:23:07,920 --> 00:23:12,080 Speaker 5: a business structure, a joint venture business structure and put 489 00:23:12,119 --> 00:23:14,680 Speaker 5: our money up and it doesn't have to be equal, right, 490 00:23:15,200 --> 00:23:17,080 Speaker 5: as long as it's equals to one hundred percent at 491 00:23:17,080 --> 00:23:18,800 Speaker 5: the end of the day, that's all that matters. You 492 00:23:18,800 --> 00:23:20,880 Speaker 5: can be eighty percent owner. We can both have ten 493 00:23:20,920 --> 00:23:23,679 Speaker 5: percent ownership, right because we're bringing something to the table, 494 00:23:23,960 --> 00:23:27,120 Speaker 5: But that would be our portion of the net rental 495 00:23:27,160 --> 00:23:31,080 Speaker 5: income or of the proceeds after sale ten percent, ten percent, 496 00:23:31,240 --> 00:23:33,920 Speaker 5: eighty percent of you because you're bringing the capital, right, 497 00:23:34,000 --> 00:23:36,359 Speaker 5: But we may be the operators and you don't know 498 00:23:36,400 --> 00:23:38,879 Speaker 5: how to operate, right. So it's all a matter of 499 00:23:38,920 --> 00:23:41,679 Speaker 5: what do you bring to the table to collaborate to 500 00:23:41,800 --> 00:23:45,080 Speaker 5: make yourself valuable for where someone wants to put you 501 00:23:45,280 --> 00:23:46,680 Speaker 5: included into that business. 502 00:23:46,720 --> 00:23:49,359 Speaker 2: And you said something important, you said coachally, you're not 503 00:23:49,400 --> 00:23:52,000 Speaker 2: seeing that happen. No, it doesn't happen a cultures. We 504 00:23:52,040 --> 00:23:52,480 Speaker 2: have ego. 505 00:23:52,640 --> 00:23:55,560 Speaker 4: Yeah, from a client base standpoint, what are you seeing 506 00:23:55,600 --> 00:23:56,119 Speaker 4: out there? Like? 507 00:23:56,760 --> 00:23:58,359 Speaker 2: Why what's holding us back? 508 00:23:58,440 --> 00:24:00,919 Speaker 5: We hold ourselves back, you know what I'm saying, Like, 509 00:24:01,000 --> 00:24:03,679 Speaker 5: we want to be the top shotter, we want to 510 00:24:03,680 --> 00:24:06,840 Speaker 5: be the this is minds right. We have that ego, 511 00:24:06,960 --> 00:24:11,480 Speaker 5: that mentality, that fucking sense of entitlement that we deserve 512 00:24:12,200 --> 00:24:15,000 Speaker 5: everything under the blue sun, which we do. But if 513 00:24:15,040 --> 00:24:17,639 Speaker 5: you ain't working hard towards and then why you have 514 00:24:17,680 --> 00:24:19,600 Speaker 5: the sense of entitlement for number one? 515 00:24:19,680 --> 00:24:21,960 Speaker 2: But I don't know why we don't collaborate more. 516 00:24:22,520 --> 00:24:25,679 Speaker 5: It's sad that I see a lot of people in 517 00:24:25,720 --> 00:24:29,320 Speaker 5: our community are not collaborating. But also on the flip side, 518 00:24:29,320 --> 00:24:32,000 Speaker 5: when I'm starting to notice the trend, especially if you 519 00:24:32,040 --> 00:24:34,120 Speaker 5: look at you know, what they call black Twitter, black 520 00:24:34,160 --> 00:24:37,040 Speaker 5: social media, You're starting to see the uplifting. You're starting 521 00:24:37,040 --> 00:24:39,520 Speaker 5: to see people coming together and starting to do more together. 522 00:24:39,800 --> 00:24:42,680 Speaker 5: So I think that cycle is going to start getting 523 00:24:42,720 --> 00:24:46,720 Speaker 5: broke down. From an ownership perspective, I'm starting to see 524 00:24:46,760 --> 00:24:50,240 Speaker 5: family members now in our community buying homes together, you know, 525 00:24:50,359 --> 00:24:52,600 Speaker 5: living in the homes together. You know you don't need 526 00:24:52,920 --> 00:24:55,520 Speaker 5: you know, to have a five thousand square foot home 527 00:24:55,560 --> 00:24:58,120 Speaker 5: and it's just you and your girlfriend right now. If 528 00:24:58,440 --> 00:25:00,840 Speaker 5: you and your girlfriend the pan it's can all move 529 00:25:00,880 --> 00:25:03,159 Speaker 5: in even if you want to get the single feeling, right, 530 00:25:03,280 --> 00:25:05,359 Speaker 5: you know what, we splitting that mortgage four ways. Now 531 00:25:05,400 --> 00:25:07,560 Speaker 5: it's more affordable and now we're able to save more 532 00:25:07,640 --> 00:25:08,560 Speaker 5: and invest together. 533 00:25:09,040 --> 00:25:10,920 Speaker 2: So I think that, I mean, that's a personal story 534 00:25:10,960 --> 00:25:13,880 Speaker 2: for me. Like that literally is my mouth model right now. 535 00:25:13,920 --> 00:25:16,800 Speaker 4: Like I own a home with my dad and it's 536 00:25:16,840 --> 00:25:19,320 Speaker 4: easier for us because obviously it lessons a burden on me, 537 00:25:19,400 --> 00:25:21,679 Speaker 4: but it also puts me in a position that whereas 538 00:25:22,040 --> 00:25:24,040 Speaker 4: you know they're older in age, it's easy. 539 00:25:23,840 --> 00:25:24,879 Speaker 2: For me to take care of absolu. 540 00:25:24,960 --> 00:25:27,760 Speaker 4: Rather than having them grow in age and having them 541 00:25:27,800 --> 00:25:29,800 Speaker 4: put them in or having them go into a home, 542 00:25:30,160 --> 00:25:33,119 Speaker 4: they're here, I can take care of them and it works. 543 00:25:33,480 --> 00:25:35,600 Speaker 2: No, I think it's I think it's a it's a 544 00:25:35,600 --> 00:25:41,560 Speaker 2: perfect situation for you to go on. I know someone 545 00:25:41,640 --> 00:25:42,080 Speaker 2: like myself. 546 00:25:42,119 --> 00:25:45,560 Speaker 5: When I purchased my first home thirteen fourteen years ago, 547 00:25:46,440 --> 00:25:47,520 Speaker 5: I didn't want to live with nobody. 548 00:25:47,520 --> 00:25:48,080 Speaker 2: You kidding me? 549 00:25:48,560 --> 00:25:50,560 Speaker 5: Forgot to have nobody's going to live with me? Right, 550 00:25:51,000 --> 00:25:54,200 Speaker 5: But now as I've grown older and not matured. It's 551 00:25:54,240 --> 00:25:56,160 Speaker 5: more so like, you know what, that's the best way 552 00:25:56,160 --> 00:25:59,640 Speaker 5: to do it, because people just can't afford to live 553 00:25:59,680 --> 00:26:00,240 Speaker 5: on their own. 554 00:26:00,320 --> 00:26:00,640 Speaker 6: No more. 555 00:26:00,760 --> 00:26:03,439 Speaker 5: People are struggling. People are living paycheck to paycheck. In 556 00:26:03,480 --> 00:26:05,760 Speaker 5: New York, if you're making one hundred k, you're broke. 557 00:26:06,640 --> 00:26:08,720 Speaker 5: I'm starting to see a lot more in our community 558 00:26:08,720 --> 00:26:11,160 Speaker 5: where people are co owned because people just don't they 559 00:26:11,160 --> 00:26:14,960 Speaker 5: don't have that the resources. You know, we qualify people 560 00:26:15,000 --> 00:26:18,160 Speaker 5: off your gross income, right, but you live your life 561 00:26:18,200 --> 00:26:20,879 Speaker 5: off your net income. And if you make one hundred 562 00:26:20,960 --> 00:26:23,640 Speaker 5: k gross, that's really like fifty five sixty thousand net 563 00:26:24,000 --> 00:26:27,680 Speaker 5: general state depends depending on taxes and what state you're in, right, 564 00:26:27,680 --> 00:26:29,960 Speaker 5: But if you're talking about thirty five forty percent, if 565 00:26:30,000 --> 00:26:33,159 Speaker 5: you're making that type of money, I mean, that's what 566 00:26:33,160 --> 00:26:34,600 Speaker 5: we're qualify with confie off. 567 00:26:34,680 --> 00:26:35,400 Speaker 2: That bigger number. 568 00:26:35,480 --> 00:26:38,440 Speaker 5: So for me, it's like, if you can barely qualify, 569 00:26:38,520 --> 00:26:41,280 Speaker 5: you're add a max that's a income ratio off of 570 00:26:41,440 --> 00:26:44,080 Speaker 5: gross income. You really can't afford it because we're not 571 00:26:44,119 --> 00:26:49,720 Speaker 5: taking consideration your auto insurance, your childcare, you know, things 572 00:26:49,720 --> 00:26:51,960 Speaker 5: of that nature that don't report on your credit reports. 573 00:26:52,040 --> 00:26:54,600 Speaker 5: So you have to be smart is what The message 574 00:26:54,640 --> 00:26:57,640 Speaker 5: that I'm preaching the people now is like, you know, be. 575 00:26:57,720 --> 00:26:58,960 Speaker 2: Smart about this decision. 576 00:26:59,000 --> 00:27:02,359 Speaker 5: And that's why I preach your family and invest in 577 00:27:02,440 --> 00:27:05,080 Speaker 5: as a primary residence versus just buyd a single family 578 00:27:05,080 --> 00:27:07,879 Speaker 5: home because you you really can't afford it, you know, 579 00:27:07,920 --> 00:27:11,200 Speaker 5: and you're a recipe for foreclosure. God forigit you get sick, 580 00:27:11,400 --> 00:27:13,320 Speaker 5: God for bit you get laid off, like how are 581 00:27:13,320 --> 00:27:14,560 Speaker 5: we going to pay your longage? 582 00:27:14,200 --> 00:27:16,919 Speaker 6: And one other things before we before we finish that 583 00:27:17,280 --> 00:27:20,399 Speaker 6: you had mentioned before off camera that it's important to 584 00:27:20,400 --> 00:27:22,920 Speaker 6: have a strategy. Absolutely people like you go from like 585 00:27:23,240 --> 00:27:24,679 Speaker 6: two to three to four. Can you just kind of 586 00:27:24,720 --> 00:27:25,320 Speaker 6: explain that? 587 00:27:25,480 --> 00:27:29,159 Speaker 5: Yeah, I mean, listen, everything is strategy, no matter your 588 00:27:29,200 --> 00:27:32,680 Speaker 5: first time, first time home buyer, you buy your second home, 589 00:27:32,760 --> 00:27:34,520 Speaker 5: move up home, you got to have a strategy. 590 00:27:34,640 --> 00:27:37,240 Speaker 2: Right for tax purposes, you need a tax strategy. 591 00:27:37,280 --> 00:27:40,639 Speaker 5: That's why I speak a lot about tax strategy, insurance strategies. 592 00:27:40,880 --> 00:27:42,720 Speaker 2: We've had that conversation several times. 593 00:27:43,320 --> 00:27:46,400 Speaker 5: So what I try to tell people go down right 594 00:27:46,680 --> 00:27:50,640 Speaker 5: four three to one, because if you do it properly, 595 00:27:51,119 --> 00:27:53,199 Speaker 5: you will be able to use minimum down pay for 596 00:27:53,440 --> 00:27:56,640 Speaker 5: four units four units, three unit, two units. 597 00:27:56,680 --> 00:27:59,719 Speaker 6: So the first home should be a four unit home. 598 00:28:00,400 --> 00:28:03,000 Speaker 6: Then you move out of that, you get the three 599 00:28:03,080 --> 00:28:05,920 Speaker 6: union home keep. You keep them, but you keep it 600 00:28:06,040 --> 00:28:08,280 Speaker 6: keeping at the hotel keep. Then you go from three 601 00:28:08,359 --> 00:28:10,920 Speaker 6: to the two. Yeah, and then now you can buy 602 00:28:11,000 --> 00:28:13,000 Speaker 6: your dream home. Now you can buy your dreamhol those 603 00:28:14,320 --> 00:28:16,240 Speaker 6: other holes that's paying for it. 604 00:28:16,320 --> 00:28:17,520 Speaker 2: You got to think about it, right. 605 00:28:18,040 --> 00:28:22,280 Speaker 5: You just accumulated probably what's that seven nine none doors 606 00:28:22,600 --> 00:28:24,440 Speaker 5: in a matter of a couple of years. So if 607 00:28:24,480 --> 00:28:28,359 Speaker 5: you're making five hundred dollars a profit on door, you know, 608 00:28:28,520 --> 00:28:32,159 Speaker 5: now your your your single family dream home is paid for. 609 00:28:32,680 --> 00:28:34,720 Speaker 2: It's really your dream. It's not like this is what 610 00:28:34,760 --> 00:28:36,800 Speaker 2: I can afford. It's not what I can afford right now. 611 00:28:36,880 --> 00:28:39,280 Speaker 5: It's like we sacrifice for the first five years of 612 00:28:39,440 --> 00:28:43,320 Speaker 5: our real estate journey, right and we went multi families 613 00:28:43,320 --> 00:28:46,040 Speaker 5: and moved our way down and we get it. Strategically, 614 00:28:46,040 --> 00:28:49,360 Speaker 5: we're not sitting here buying in the best neighborhood when 615 00:28:49,360 --> 00:28:52,040 Speaker 5: we're buying our multis. We're buying areas that we can 616 00:28:52,120 --> 00:28:54,880 Speaker 5: feel comfortable and safe and living for a year, and 617 00:28:54,920 --> 00:28:56,959 Speaker 5: then we're moving out and moving into a little bit 618 00:28:57,120 --> 00:28:59,800 Speaker 5: step up our neighborhood, but going down the units because 619 00:28:59,800 --> 00:29:02,600 Speaker 5: from from underwriting perspective, it has to make sense for 620 00:29:02,760 --> 00:29:06,800 Speaker 5: you moving from one multi family to another multi family. 621 00:29:06,840 --> 00:29:09,400 Speaker 5: You can't buy a four family and three family on 622 00:29:09,440 --> 00:29:11,600 Speaker 5: the same block and say I'm moving from one house 623 00:29:11,640 --> 00:29:13,560 Speaker 5: to another, right, That doesn't make it. 624 00:29:13,600 --> 00:29:15,960 Speaker 6: So that's to play, like to move to a decent neighborhood, 625 00:29:16,040 --> 00:29:17,959 Speaker 6: Just keep moving up in neighborhoods, Just keep moving. That's 626 00:29:17,960 --> 00:29:19,920 Speaker 6: another thing too, parent that're like, I want to move 627 00:29:19,920 --> 00:29:22,320 Speaker 6: in the best possible neighborhood right away where my kid 628 00:29:22,360 --> 00:29:25,200 Speaker 6: is like one years old because I went to school district. 629 00:29:25,280 --> 00:29:27,600 Speaker 2: But one year is not going to make that, right, 630 00:29:27,760 --> 00:29:30,000 Speaker 2: not at all. It's not going to start to five. 631 00:29:30,320 --> 00:29:32,320 Speaker 5: Listen, the kid is not going to start the five. 632 00:29:32,400 --> 00:29:34,440 Speaker 5: I have a four year old, right, and she's she'll 633 00:29:34,480 --> 00:29:37,320 Speaker 5: be five this year. She's going to kindergarten, right, I 634 00:29:37,400 --> 00:29:41,800 Speaker 5: actual her every day what you learn in school, and 635 00:29:41,840 --> 00:29:45,960 Speaker 5: the answer changes every single day, right, and then sometimes 636 00:29:45,960 --> 00:29:48,520 Speaker 5: it I have nothing to do with school, Like okay. 637 00:29:48,240 --> 00:29:50,560 Speaker 2: Maybe right, So you got to really think about it. 638 00:29:50,600 --> 00:29:52,600 Speaker 5: Why are you going to go to that best school 639 00:29:52,600 --> 00:29:55,480 Speaker 5: district and then the best school district in our areas 640 00:29:55,720 --> 00:30:00,160 Speaker 5: come with fifteen twenty thousand and property taxes Right now, 641 00:30:00,240 --> 00:30:02,520 Speaker 5: with the new tax laws, you can only ride off 642 00:30:02,560 --> 00:30:05,880 Speaker 5: ten thousand. You can't ride on the whole amount. The 643 00:30:05,960 --> 00:30:08,640 Speaker 5: more so, everything has to be strategy and you have 644 00:30:08,720 --> 00:30:10,480 Speaker 5: to know your tax laws and you have to keep 645 00:30:10,560 --> 00:30:13,080 Speaker 5: up with it. Right So why go to that best 646 00:30:13,120 --> 00:30:15,479 Speaker 5: neighborhood if you really don't need the school district right now? 647 00:30:15,480 --> 00:30:18,040 Speaker 5: Why don't you go to the okay neighborhood that you're 648 00:30:18,080 --> 00:30:21,520 Speaker 5: safe in. Get the multifamily because while your child is growing, 649 00:30:21,760 --> 00:30:24,719 Speaker 5: you could be growing too, but in your real estate portfolio. 650 00:30:25,080 --> 00:30:27,840 Speaker 5: And now when it's time, maybe I don't even think 651 00:30:28,040 --> 00:30:30,000 Speaker 5: kindergarten you need to be in the best school district. 652 00:30:30,040 --> 00:30:32,040 Speaker 5: That's just my opinion. Maybe not even until they get 653 00:30:32,080 --> 00:30:35,440 Speaker 5: to you know, sixth and seventh grade is when their 654 00:30:35,480 --> 00:30:38,720 Speaker 5: brains really start retaining stuff. In my opinion is now 655 00:30:38,800 --> 00:30:41,040 Speaker 5: you probably want to go to that best school district, 656 00:30:41,240 --> 00:30:44,640 Speaker 5: and then by that time, you probably accumulated you know, three. 657 00:30:44,520 --> 00:30:47,120 Speaker 2: Four assets that now can help pay for it. 658 00:30:47,240 --> 00:30:49,280 Speaker 7: It's the same like with people in private school. 659 00:30:49,320 --> 00:30:50,920 Speaker 6: A lot of time people will send their private kids 660 00:30:50,920 --> 00:30:53,400 Speaker 6: to private school in like middle school. They could they 661 00:30:53,440 --> 00:30:56,719 Speaker 6: only pay the price of private school in second grade. Yeah, 662 00:30:56,760 --> 00:30:58,880 Speaker 6: so they saved, and then by the time they get 663 00:30:58,880 --> 00:31:01,640 Speaker 6: to like sixth grade seventh grade, now they put their 664 00:31:01,720 --> 00:31:02,480 Speaker 6: kids in private. 665 00:31:02,240 --> 00:31:04,959 Speaker 5: Schel and I have folks that love private school, right 666 00:31:05,080 --> 00:31:07,520 Speaker 5: versus public? Great, But then why you're going to buy 667 00:31:08,040 --> 00:31:12,440 Speaker 5: the house that comes with fifteen thousand and taxes if 668 00:31:12,440 --> 00:31:14,120 Speaker 5: you're not gonna send the public because the majority of 669 00:31:14,120 --> 00:31:16,960 Speaker 5: your taxes are school taxes, you know what I'm saying, 670 00:31:17,000 --> 00:31:18,560 Speaker 5: So like, why are you going to pay out of 671 00:31:18,560 --> 00:31:20,800 Speaker 5: the fifteen grand probably ten grand is going to the school, 672 00:31:21,080 --> 00:31:23,640 Speaker 5: but you're still paying probably ten fifteen k a year 673 00:31:23,680 --> 00:31:26,400 Speaker 5: in tuition at the same time, So and you can't 674 00:31:26,400 --> 00:31:28,959 Speaker 5: write it all off no more, So why do it? 675 00:31:29,040 --> 00:31:31,000 Speaker 2: Right? It doesn't make any sense even if you go. 676 00:31:30,920 --> 00:31:33,040 Speaker 5: With the Star program. The Star programs are only going 677 00:31:33,080 --> 00:31:34,240 Speaker 5: to save you a couple of dollars. 678 00:31:35,240 --> 00:31:36,560 Speaker 2: But those who don't know what's start. 679 00:31:36,720 --> 00:31:39,720 Speaker 5: Start the Star program saves you on school taxes, right. 680 00:31:40,360 --> 00:31:44,560 Speaker 5: It used to come off the gross on your taxes. 681 00:31:44,600 --> 00:31:46,600 Speaker 5: Now they send you a check at the end of 682 00:31:46,600 --> 00:31:48,680 Speaker 5: the year, So it doesn't really help you doing the 683 00:31:48,720 --> 00:31:53,880 Speaker 5: cost of the year. You get reimbursed or refunded. That's savings, 684 00:31:53,920 --> 00:31:56,400 Speaker 5: But that they savings is only like two grands, so 685 00:31:56,560 --> 00:31:59,320 Speaker 5: I mean two grand versus fifteen grand. It's like pennies 686 00:31:59,360 --> 00:32:01,920 Speaker 5: on a dollar. When it's a penny saves a penny 687 00:32:01,960 --> 00:32:04,800 Speaker 5: earned too at the same time, but it doesn't really 688 00:32:04,840 --> 00:32:07,040 Speaker 5: help you in the grand scheme of things. So what 689 00:32:07,080 --> 00:32:08,680 Speaker 5: I try to tell people is is and just be 690 00:32:08,760 --> 00:32:11,800 Speaker 5: smart because you got to pay that mortgage every month, 691 00:32:11,800 --> 00:32:14,280 Speaker 5: and the mortgage man don't care. They want their money 692 00:32:14,360 --> 00:32:16,480 Speaker 5: and if they don't get your money, they're gonna wind 693 00:32:16,560 --> 00:32:18,040 Speaker 5: up foreclosing on you at some point. 694 00:32:18,120 --> 00:32:19,880 Speaker 2: So just be smart. Move a strategy. 695 00:32:20,320 --> 00:32:23,479 Speaker 5: Start with rental properties first, because the rental properties can 696 00:32:23,520 --> 00:32:26,440 Speaker 5: pay for your asset. Like DJ Envy Ncson both say 697 00:32:26,440 --> 00:32:28,520 Speaker 5: at their seminos, right, which I love that. They say, 698 00:32:29,120 --> 00:32:31,560 Speaker 5: you know MV splashy like he loves cars, right, we 699 00:32:31,600 --> 00:32:33,760 Speaker 5: all know that if you follow him, he's always buying 700 00:32:33,800 --> 00:32:36,400 Speaker 5: some rose Royce or something. But he said, fly it out. 701 00:32:36,560 --> 00:32:38,600 Speaker 5: I don't buy this unless I have an asset that 702 00:32:38,640 --> 00:32:41,560 Speaker 5: can pay for it. So I'm not paying for it. 703 00:32:42,120 --> 00:32:45,760 Speaker 5: I'm paying for the asset assets. 704 00:32:45,360 --> 00:32:46,200 Speaker 2: Of a reliability. 705 00:32:46,200 --> 00:32:50,560 Speaker 5: It's right, shameless pot assets of reliabilities people, right, But 706 00:32:50,640 --> 00:32:53,320 Speaker 5: he's buying the asset to pay for the rose Royce. 707 00:32:53,600 --> 00:32:56,480 Speaker 5: You know we have that same opportunity. You know these 708 00:32:56,520 --> 00:32:59,080 Speaker 5: guys are part of the one percent club. Great, we 709 00:32:59,240 --> 00:33:01,680 Speaker 5: all have that ability to do the same thing. Even 710 00:33:01,720 --> 00:33:03,800 Speaker 5: if we're not part of the one percent. We can 711 00:33:03,840 --> 00:33:07,239 Speaker 5: develop the one percent mentality. That's all we need. So 712 00:33:07,280 --> 00:33:08,880 Speaker 5: that's when you ask me, where do we first start? 713 00:33:09,080 --> 00:33:12,240 Speaker 5: Right here, the mentality is the first place that we 714 00:33:12,360 --> 00:33:15,800 Speaker 5: need to start. Develop that one percent mentality. Develop a 715 00:33:15,840 --> 00:33:19,160 Speaker 5: strong team, develop your one percent dream team. You know 716 00:33:19,200 --> 00:33:21,080 Speaker 5: you need guys like me, You need guys like Shah. 717 00:33:21,200 --> 00:33:24,479 Speaker 5: You need financial planning, you need to understand tax planning, 718 00:33:24,880 --> 00:33:28,240 Speaker 5: you need all of these these these key team players 719 00:33:28,240 --> 00:33:31,280 Speaker 5: to guide you to know your overall strategy. Because if 720 00:33:31,320 --> 00:33:33,520 Speaker 5: you just go to in my business, what I like 721 00:33:33,560 --> 00:33:35,840 Speaker 5: to call them order takers. You know, it's like going 722 00:33:35,840 --> 00:33:37,960 Speaker 5: to McDonald's. You want fries with that right, if you 723 00:33:38,000 --> 00:33:39,920 Speaker 5: go to a regular loan office, so they're not asking 724 00:33:39,960 --> 00:33:42,680 Speaker 5: you questions. They're just thinking to get you preapproved today 725 00:33:42,760 --> 00:33:45,200 Speaker 5: to buy that house today, but they're not trying to 726 00:33:45,280 --> 00:33:48,320 Speaker 5: gather the long term your long term goals. So when 727 00:33:48,320 --> 00:33:50,720 Speaker 5: someone comes to me, I'm asking these questions because I 728 00:33:50,760 --> 00:33:51,360 Speaker 5: want to know. 729 00:33:51,600 --> 00:33:53,360 Speaker 2: What, who are you? Number one and what do you 730 00:33:53,360 --> 00:33:54,280 Speaker 2: want to deal with your life? 731 00:33:54,320 --> 00:33:56,280 Speaker 5: Because if you tell me, hey, I want to buy 732 00:33:56,280 --> 00:33:58,400 Speaker 5: this house, but then at the same time you say 733 00:33:58,400 --> 00:34:01,080 Speaker 5: I want in basketball, you're contradicting your You got to 734 00:34:01,160 --> 00:34:03,160 Speaker 5: kind of pick your poison and figure out what's the 735 00:34:03,160 --> 00:34:06,080 Speaker 5: best route. And I can only tell you my opinion, 736 00:34:06,400 --> 00:34:09,160 Speaker 5: my advice. This is what you qualify for. I'm gonna 737 00:34:09,200 --> 00:34:10,719 Speaker 5: lead you to the water, but it's up to you 738 00:34:10,800 --> 00:34:13,320 Speaker 5: to drink. At the end of the day, we want. 739 00:34:13,400 --> 00:34:15,400 Speaker 6: We want to thank you for coming in. Man, that 740 00:34:15,600 --> 00:34:19,239 Speaker 6: was I hope you guys really once again took notes. Yeah, 741 00:34:19,280 --> 00:34:21,680 Speaker 6: I hope you God really took notes. Because this is 742 00:34:21,800 --> 00:34:23,680 Speaker 6: just like business. You know, real estate is something this 743 00:34:23,719 --> 00:34:26,800 Speaker 6: is actually probably even more relevant than business because everybody 744 00:34:26,840 --> 00:34:30,200 Speaker 6: doesn't inspire to be a business owner, but most people 745 00:34:30,560 --> 00:34:33,520 Speaker 6: have a dream of owning a home right or you know, 746 00:34:33,800 --> 00:34:36,560 Speaker 6: at least rent you I live somewhere regardless, So even 747 00:34:36,560 --> 00:34:38,400 Speaker 6: if you're a renter, you should still be educated on 748 00:34:38,440 --> 00:34:42,000 Speaker 6: it because you know, real estate is something that everybody 749 00:34:42,040 --> 00:34:43,880 Speaker 6: partakes it well. 750 00:34:43,280 --> 00:34:44,319 Speaker 2: Even I'm gonna cut your wall. 751 00:34:44,360 --> 00:34:46,040 Speaker 5: But even if you're a renter, you still should be 752 00:34:46,040 --> 00:34:50,799 Speaker 5: buying right like why and especially with the millennials, like 753 00:34:50,800 --> 00:34:51,920 Speaker 5: I hear a lot of this online. 754 00:34:51,920 --> 00:34:53,360 Speaker 2: Millennials don't want to buy homes. 755 00:34:53,400 --> 00:34:55,200 Speaker 5: They just want to rent because they don't feel like 756 00:34:55,200 --> 00:34:57,880 Speaker 5: they want to get tagged and tied down to a property. 757 00:34:57,960 --> 00:35:01,440 Speaker 5: But why not still invest, you know, still buy property, 758 00:35:01,520 --> 00:35:03,520 Speaker 5: still buy real estate, and you can because it's nothing 759 00:35:03,560 --> 00:35:05,960 Speaker 5: wrong with renting. You know, there's a lot of people 760 00:35:05,960 --> 00:35:08,680 Speaker 5: on my industry that try to say compare rent versus owner, 761 00:35:08,760 --> 00:35:11,080 Speaker 5: which I get the logic, but there's nothing wrong with 762 00:35:11,160 --> 00:35:14,680 Speaker 5: being a renter. Right, It's a purpose. You know, some people, 763 00:35:14,920 --> 00:35:18,400 Speaker 5: you have to be mature to handle home ownership. You know, 764 00:35:18,520 --> 00:35:21,719 Speaker 5: it's a lot, it's a lot of responsibility. It's it's 765 00:35:21,880 --> 00:35:23,960 Speaker 5: not just like, oh I bought a house and now 766 00:35:24,120 --> 00:35:26,960 Speaker 5: I'm a homeowner and great like, but the goddamn ball 767 00:35:27,040 --> 00:35:29,600 Speaker 5: or break then what right? You know, it's a lot 768 00:35:29,600 --> 00:35:32,440 Speaker 5: of response to it, and it takes a search maturity 769 00:35:32,480 --> 00:35:35,440 Speaker 5: to handle home ownership. So if you're not mature enough 770 00:35:36,239 --> 00:35:39,200 Speaker 5: and you need to rent, why not start investing into 771 00:35:39,200 --> 00:35:40,799 Speaker 5: real estate and start small. 772 00:35:40,600 --> 00:35:41,440 Speaker 2: Stay in your lane. 773 00:35:41,520 --> 00:35:44,080 Speaker 5: You don't have to keep up with, you know, the 774 00:35:44,400 --> 00:35:48,320 Speaker 5: superstar investors that are out there buying ten properties a week. 775 00:35:48,600 --> 00:35:50,520 Speaker 5: You know, stay your lane, whether you buy one home 776 00:35:50,560 --> 00:35:54,080 Speaker 5: a year or one a month, whatever your lane is, staying. 777 00:35:53,800 --> 00:35:59,800 Speaker 2: This My graduates from my school being. 778 00:35:59,640 --> 00:36:05,759 Speaker 4: Fulled bad drop bag drop Mike, drop bag, drop bag drops. 779 00:36:16,120 --> 00:36:18,840 Speaker 1: Coach, the energy out there felt different. What changed for 780 00:36:18,920 --> 00:36:19,520 Speaker 1: the team today? 781 00:36:19,600 --> 00:36:22,280 Speaker 2: It was the new game day scratches from the California Lottery. 782 00:36:22,440 --> 00:36:25,200 Speaker 2: Player is everything. Those games sent the team's energy through 783 00:36:25,200 --> 00:36:25,560 Speaker 2: the roof. 784 00:36:25,640 --> 00:36:27,600 Speaker 1: Are you saying it was the off field play that 785 00:36:27,640 --> 00:36:28,800 Speaker 1: made the difference on the field. 786 00:36:28,880 --> 00:36:31,640 Speaker 2: Hey, little play makes your day, and today it made 787 00:36:31,640 --> 00:36:32,040 Speaker 2: the game. 788 00:36:32,520 --> 00:36:33,759 Speaker 7: That's all for now, Coach. 789 00:36:33,880 --> 00:36:36,520 Speaker 1: One more question played the new Los Angeles Chargers, San 790 00:36:36,560 --> 00:36:39,560 Speaker 1: Francisco forty nine Ers and Los Angeles Rams scratchers from 791 00:36:39,560 --> 00:36:40,680 Speaker 1: the California Lottery. 792 00:36:40,800 --> 00:36:42,399 Speaker 6: A little play can make your day. 793 00:36:43,040 --> 00:36:43,880 Speaker 3: Peace, Pay responsibly. 794 00:36:43,920 --> 00:36:45,400 Speaker 1: It must be eighteen years or older to purchase plate 795 00:36:45,480 --> 00:36:45,880 Speaker 1: or claim