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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security. Get

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Speaker 2: into the investor loan programs right.

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Speaker 3: So, COVID nineteen came, a lot of things changed with

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Speaker 3: the underwriting guidelines. But I'm here to tell you guys,

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Speaker 3: a lot of programs are opening back up. So we're

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Speaker 3: going to talk about tonight conventional financing using traditional Fannie MAE,

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Speaker 3: Freddie MAC, income based financing to buy your first property

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Speaker 3: or your tenth property. Hard money loans, We're going to

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Speaker 3: talk about that. There's been a lot of changes, but

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Speaker 3: a lot of hard money private lenders are opening back

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Speaker 3: up again. I had conversations with several of them over

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Speaker 3: the past week. Programs are coming back, Flexibility is coming back,

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Speaker 3: So we're going to go through you know what I found,

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Speaker 3: and asset based lending my favorite, right, income based loans,

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Speaker 3: your exit strategy to get out of a hard money

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Speaker 3: loan if you're doing a buy fix and then you

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Speaker 3: want to hold it a long time. So that's the

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Speaker 3: great thing that I want to report to you guys,

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Speaker 3: that asset based loans are really coming back to full swing.

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Speaker 3: So I'm gonna break these programs down for you. So

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Speaker 3: conventional finance minimum six to eighty credit score. So I'm

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Speaker 3: just going to give you guys kind of like the

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Speaker 3: ABC's what you need to qualify.

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Speaker 2: For, and then we go through Q and A. I'm

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Speaker 2: pretty sure you guys are going to have a lot

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Speaker 2: of questions about this stuff.

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Speaker 3: So minimum crick six to eighty credit score. It's a

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Speaker 3: full documentation loan, meaning it's income base.

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Speaker 4: Right.

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Speaker 3: W two's taxi turns paced up, just like you're gonna

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Speaker 3: buy your primary residents.

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Speaker 2: Right.

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Speaker 3: Your minimum down payment is fifteen to twenty five percent

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Speaker 3: of the purchase price. Now a single family or a

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Speaker 3: condo investment property, you can put down as little as

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Speaker 3: fifteen percent. Multifamilies, duplex, triplex squads twenty five percent down payment.

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Speaker 2: No if ansbuch about it.

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Speaker 3: Maximum sellers concession is three percent. Sellers concession guys is

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Speaker 3: when the seller agrees to pay a portion of your

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Speaker 3: closing cost. So one hundred thousand dollars sales price a

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Speaker 3: three percent concession three thousand.

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Speaker 2: Dollars that the seller is going to pay.

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Speaker 3: One to four family properties like I said, Fanny may

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Speaker 3: approve condos. The max loan amount is based off the

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Speaker 3: Fandy mad loan limits. Single families are five hundred and

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Speaker 3: ten thousand. If you live in high cost areas like

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Speaker 3: New York Cali areas like that, single family goes up

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Speaker 3: to seven sixty five, and you can go up to

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Speaker 3: one point four million dollars with a four family property.

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Speaker 2: All right.

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Speaker 3: Rehab money is available for conventional investment properties. Only one

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Speaker 3: family properties are allowed currently under the Fanny Made Homestyle program.

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Speaker 2: That program right now, you.

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Speaker 3: Need about a six sixty credit score to start off

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Speaker 3: with that. Six to twelve months of reserves are required

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Speaker 3: for each property owned. Now, this is one of the

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Speaker 3: big things with conventional loans, the reserve requirement. Fanny Main

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Speaker 3: and Freddie Mack will allow you to have up to

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Speaker 3: ten finance properties, but for each finance property, you need

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Speaker 3: to have six to twelve months of reserves.

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Speaker 2: For each property.

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Speaker 3: It could be in a retirement plan liquid but you

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Speaker 3: have to document right. And this is where conventional financing

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Speaker 3: gets a little bit tricky because some investors are just

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Speaker 3: they just don't have that type of reserves handy. But

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Speaker 3: one of the main reasons why you guys would want

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Speaker 3: to go with conventional financing is because of the interest rates.

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Speaker 2: The interest rates are going to be really cheap. I

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Speaker 2: mean right now we're locking in people in the.

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Speaker 3: Low four percent range on thirty year fixed mortgages even

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Speaker 3: had a couple coming and the hot threes for investment properties, multifamilies,

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Speaker 3: refinances and purchases. So that's one of the main reasons

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Speaker 3: why you would go with a Fannie May of Freddie

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Speaker 3: Mac conventional financing, because you really want to take take

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Speaker 3: that cheap money that's available. Now, your LLC can be

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Speaker 3: invested in the deed post closing if you are one

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Speaker 3: hundred percent owner of that LLC and you're the owner

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Speaker 3: of the property, but the mortgage will be in your

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Speaker 3: personal name. Okay, you cannot get a mortgage in your

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Speaker 3: LLC with conventional financing. So conventional finance, and again many

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Speaker 3: many of clients of Minds have used this to buy

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Speaker 3: Airbnb properties single families that they want to rehab and

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Speaker 3: and rent them out long term because.

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Speaker 2: It's the money. It's just so cheap.

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Speaker 3: But if you don't again, income base W two's tax returns,

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Speaker 3: pay stubs, that's the documents that we need to.

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Speaker 2: See rental income.

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Speaker 3: We can help use to help you qualify if you

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Speaker 3: have a history of collecting rental income.

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Speaker 2: On your tax returns.

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Speaker 3: So those are the kind of the basics of the

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Speaker 3: conventional program. All right, so let's let's move on. We're

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Speaker 3: going through this. Okay, guys, good, all right, all right,

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Speaker 3: So hard money loans, right, So, hard money loans favorite

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Speaker 3: of most investors, especially if you're going to do a.

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Speaker 2: Fix and flip.

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Speaker 3: You want to buy forll closed property that's a multi failure,

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Speaker 3: but you want to hold it in a long run.

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Speaker 2: You want to go the hard money route. This is

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Speaker 2: the way to get the quickest, cheapest, fastest money.

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Speaker 3: If you're buying at an auction, if you're buying, you know,

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Speaker 3: one of those properties, if they say all cash, typically

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Speaker 3: hard money is allowed. So you have very flexible times

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Speaker 3: with this out Let me get back to conventional real

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Speaker 3: quick closing time.

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Speaker 2: Closing time with conventional loans are going to be.

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Speaker 3: Around thirty to sixty days, just depending on the lender also,

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Speaker 3: and that's very important if you're in a competitive bidding

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Speaker 3: more on a property, you need to be able to

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Speaker 3: close fast. So that's a con with conventional loans for investors.

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Speaker 3: Just want to throw that out there.

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Speaker 2: Closing time with hard money typically around two weeks.

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Speaker 3: Some guys say they can do it in ten days,

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Speaker 3: but I'll tell yourself, just prepare for two weeks closing.

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Speaker 3: There's no income verification, so unlike traditional fanny made loans,

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Speaker 3: you don't need W two's pay stuffs, TAXI terms, you

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Speaker 3: don't need any of that information. The property is in

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Speaker 3: your LLC's name, you will personally guarantee it. But it's

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Speaker 3: probably ninety five percent of the hard money private lenders

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Speaker 3: out there, they will take a look at your credit score.

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Speaker 3: That's why they need a minimum six twenty to six sixty.

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Speaker 3: This depends on who you're going to. Some people are

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Speaker 3: still as six twenty. Some people want the highest score.

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Speaker 3: It just all depends on what you're talking to. But

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Speaker 3: you don't need no income documentation, all right. Minimum down

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Speaker 3: payment dependent on experience, will be anywhere right now from

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Speaker 3: fifteen to thirty percent if you have if you have

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Speaker 3: a lot of experience, you can probably get the higher financing.

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Speaker 3: But if you don't have experience, if your first time

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Speaker 3: and right now, you can expect to put down twenty

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Speaker 3: to thirty percent down payment.

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Speaker 2: One hundred percent.

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Speaker 3: Rehab court is available out of sixty five percent ARV.

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Speaker 3: All right, pre COVID, you have some very aggressive lenders

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Speaker 3: out there that.

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Speaker 4: Will do you just explain? Can you just explain what

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Speaker 4: ARV is?

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Speaker 2: So after renovated value, okay, after rented value. Renovated value

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Speaker 2: is your ARV.

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Speaker 3: So it's basically the comps right, that's basically what you

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Speaker 3: have to look at when you're going into any type

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Speaker 3: of rehab situation. So easy numbers, right, how you figure

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Speaker 3: out sixty five percent ARV. So you got one hundred

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Speaker 3: fifty thousand dollars acquisition price, fifteen thousand dollars in repairs

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Speaker 3: at sixty five sixty five thousand total between rehab and acquisition,

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Speaker 3: the helmet will be worth one hundred thousand per the comps.

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Speaker 3: The comps are comparable sales, typically within a one mile

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Speaker 3: radius of the property sold within the past six months,

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Speaker 3: depending on the area. If it's not enough sales, the

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Speaker 3: praiser can go further out in time or in distance.

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Speaker 3: They just have to notate that. But that's pretty much

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Speaker 3: what you want to look for is the comps, and

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Speaker 3: that's going to determine. So in that situation is one

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Speaker 3: hundred thousand dollars comps, it will sell one hundred k.

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Speaker 2: So your ARV in that situation is sixty five percent.

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Speaker 4: Man, Man, what kind of interest rates are we looking at?

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Speaker 4: Fo hard money?

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Speaker 2: So boom, there we go.

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Speaker 3: Oh, interest rates are going to be somewhere in that

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Speaker 3: right now, nine to fifteen percent range, depending on who

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Speaker 3: you talk to, your relationships, new or season investor. You know,

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Speaker 3: the guys who've been out here consistently doing numbers, they're

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Speaker 3: still getting that nine to ten percent with the more

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Speaker 3: favorable terms.

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Speaker 2: Right now, the people who are new are getting.

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Speaker 3: The thirteen to fourteen percents and the twenty five to

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Speaker 3: thirty percent down payment.

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Speaker 2: So it's this all depends on where you are in life.

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Speaker 2: But again a lot.

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Speaker 3: Of them are starting to As America starting to reopen,

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Speaker 3: construction starting, people are starting to loosen that up. So

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Speaker 3: from what I'm hearing, by mid summer beginning August somewhere

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Speaker 3: around there, this should the requirements for down payment should

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Speaker 3: go back up if things keep moving the way they're

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Speaker 3: going right now, godre all right, So one four family

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Speaker 3: investment properties only. You can't buy your primary residents and

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Speaker 3: get a hard money loan. It's only investment properties. Some

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Speaker 3: hard money lenders are requiring reserves anywhere from three.

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Speaker 2: To six months.

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Speaker 3: But again, depending on your relationships and who you are,

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Speaker 3: you probably don't need no reserves.

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Speaker 5: And that's one good thing, not to not to cut

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Speaker 5: you offrom that, but not to cut you off.

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Speaker 4: But I'm gonna cut you off. But that's yeah, we

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Speaker 4: did a.

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Speaker 5: Hard money class on Eyo University because a lot of

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Speaker 5: people act all the time like you know, who should

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Speaker 5: I contact about hard money and stuff like that. It's

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Speaker 5: a variety of different people, but it's all about relationships.

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Speaker 5: So that's one of the things that we try to

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Speaker 5: provide at Eyo University. Also is that you know, you

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Speaker 5: have direct access city people. So I believe the gentlemen

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Speaker 5: that did the classes he works with DJMV and Cason

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Speaker 5: absolutely absolutely.

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Speaker 2: Kevin. Kevin a great guy. We can you know, he's

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Speaker 2: the go to for the team. I work a lot

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Speaker 2: with him.

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Speaker 3: He closes a lot of deals for everybody, so yeah,

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Speaker 3: he's that guy we use and he.

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Speaker 4: Gave everybody his contact and all that, right.

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Speaker 3: Absolutely at A lot of the people have been in

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Speaker 3: touch with Kevin getting deals done, so he's he's made

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Speaker 3: it suff available for eyl University members all right. All right,

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Speaker 3: So three to six months are reserves depending on the

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Speaker 3: lender closing your LLC. Name only experience is preferred, but

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Speaker 3: it's not required, all right, Licensed contractors required. Some lenders

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Speaker 3: don't care if you have a licensed contractor or not.

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Speaker 3: Just all depends on the lender. Twelve month terms, particularly

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Speaker 3: for hard money so you got to have your exit strategies.

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Speaker 3: You got to know how you get rid of that property.

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Speaker 3: For your newcomers. You don't want to get full closed on.

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Speaker 3: You can get extensions depending on who you're talking to,

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Speaker 3: anywhere from three months to six months for an extensions

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Speaker 3: is going to come out of feed. It's probably going

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Speaker 3: to be very expensive. And like I said earlier, TROIT

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Speaker 3: interest rates on hard money loans right now ranging between

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Speaker 3: nine and fifteen percent and with the points is two

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Speaker 3: to four points. Now points is a one percent of

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Speaker 3: your loan amount. So if it's one hundred thousand dollars loan,

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Speaker 3: you're looking at two points. That's two grand.

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Speaker 4: Right.

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Speaker 2: The smaller the loan, the more points you're going to

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Speaker 2: be charged, the least amount of experience, The more points

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Speaker 2: you're going to get charged, the more experienced, the cheaper

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Speaker 2: the rate, the cheaper the cost.

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Speaker 6: All the terms usually just twelve months or have we

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Speaker 6: seen them extended past twelve, like twelve to eighteen?

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Speaker 2: Yeah, you've seen them extend up to eighteen.

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Speaker 3: You know, there's a lot of lenders that had to

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Speaker 3: do four bearans because some investors just couldn't work right

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Speaker 3: during COVID. So you know, a lot of that is

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Speaker 3: now starting to reopen up again, so extensions might be

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Speaker 3: a little bit more generous in the next couple of months.

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Speaker 3: But I know a lot of people had to hold

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Speaker 3: a lot of notes because of the four barances and everything.

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Speaker 5: That you got something on your screen that says the

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Speaker 5: recording has been stopped. I mean, it's all good. We

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Speaker 5: can still hear you answer you. But yeah, there's like

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Speaker 5: some letters on your screen that says, man, we.

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Speaker 2: Got my camera trying to Teddy Riley mean, all right,

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Speaker 2: so we're gonna keep going.

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Speaker 4: Yeah, you're good, keep going. Yeah.

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Speaker 2: Yeah, So all right, so we got that's what the

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Speaker 2: hard money? We got any questions while I'm doing this

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Speaker 2: real quick?

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Speaker 4: Yeah we do?

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Speaker 2: Actually, yeah, take take one two.

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Speaker 6: Well, you got your hosting it, so you gotta put jamal.

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Speaker 6: Jamal is trying to ask question as his hand raise.

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Speaker 6: Go ahead and take control real quick, all right, gotcha, Jamal,

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Speaker 6: we're coming to you. Mute yourself. You've been unmuted.

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Speaker 2: On Matt. Yeah, what's going on?

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Speaker 4: The quick?

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Speaker 7: Question about your experience or was it experience with hard

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Speaker 7: money or your experience with uh, you know, rehabbing homes?

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Speaker 7: Can you break that down a little bit both, right,

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Speaker 7: So mainly didn't want to look for your experience with

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Speaker 7: hard money.

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Speaker 2: But if you have.

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Speaker 3: Investment properties, they will count that also just to pay

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Speaker 3: on how many property.

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Speaker 2: It just depends on how many properties you are. Okay,

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Speaker 2: but what about flipped in the past. Was it in

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Speaker 2: the past twenty four months? Yeah?

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Speaker 3: Yeah, that's fine. So they'll go back on your resumes.

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Speaker 3: So when you're when you guys are applying with lenders,

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Speaker 3: they're going to ask you how many transactions you completed.

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Speaker 3: Most want to see twenty four months, some will go

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Speaker 3: twelve months. But for the most part, if you got

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Speaker 3: experience even three.

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Speaker 2: Years ago, disclose it. Right.

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Speaker 3: The more experience you have, even if it's spread out

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Speaker 3: over ten years, Let's say if you did five flips

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Speaker 3: or seven flips in the last ten years, like, you

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Speaker 3: still have experience, right, Okay, thank you.

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Speaker 4: I appreciate you. I appreciate that.

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Speaker 2: No problem.

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Speaker 4: Yeah, we met.

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Speaker 6: I got a couple so I'm gonna go to a

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Speaker 6: few months that go. Yeah, yeah, go ahead, all right,

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Speaker 6: Patrice be coming to you.

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Speaker 4: I meet yourself. You've been unmuted.

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Speaker 5: Hi, I had a question outside of flip properties, what

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Speaker 5: other benefits.

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Speaker 2: Would people use hard money for to flip properties? That's it.

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Speaker 3: That's the only Like it's like a hammer, right, What

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Speaker 3: else are you gonna use a hammer for just a

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Speaker 3: driller nail or hit somebody in the head.

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Speaker 2: But like you know what I'm saying.

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Speaker 3: But like, hard money is a tool, right, that's the

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Speaker 3: main purpose of the tools to flip a house or

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Speaker 3: get a house to rehabit. It's short term solution. It's

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Speaker 3: quick funding.

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Speaker 2: Okay, So not read somebody I see somebody else post

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Speaker 2: it to not rehabit holds.

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Speaker 3: Yeah, you can rehabit holds. So you can use it

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Speaker 3: to rehab the property. You can flip the property, or

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Speaker 3: you can hold the property. And that's why you need

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Speaker 3: to refinance out of it and get yourself into an

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Speaker 3: asset based loan, which I'm a covered.

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Speaker 2: Right after I get this camera.

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Speaker 5: Right, So you want to refine mat Just from my

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Speaker 5: understanding from talking to the guys that really do hard

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Speaker 5: money a lot, the reason why you don't want to

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Speaker 5: stay in the hard money long long term is because

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Speaker 5: the interest rates is so much higher, right.

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Speaker 3: Yeah, absolutely, I mean interest rates are much higher. You

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Speaker 3: got none to fifteen percent. It's interestingly you know that

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Speaker 3: can get expensive depending on your loan amount.

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Speaker 2: Right that carrying corust can add up. So you want

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Speaker 2: to get out of it.

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Speaker 3: And it's only a twelve month term, it's going to

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Speaker 3: balloon on you, so you you have to go. Hard

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Speaker 3: money is all about getting in and getting out, whether

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Speaker 3: you're flipping it or whether you're going to buy and hold.

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Speaker 3: You need if you're going to a buide hold or

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Speaker 3: rehab and then hold, you need to know your asset lender.

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Speaker 3: You need to know who's going to be the person

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Speaker 3: that's going to refinance you out of it. You need

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Speaker 3: to know their qualifications. You already have to have that

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Speaker 3: lined up, so it's a seamless transition.

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Speaker 2: You don't get jammed up.

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Speaker 6: Man, when you're looking for a hard money lender. Are

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Speaker 6: you looking for somebody that is in a close proximity,

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Speaker 6: like somebody that's local or can we do this anyway

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Speaker 6: in the United States?

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Speaker 3: Man, I don't care if they're in Hawaii. You know

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Speaker 3: they're able to fund fund perfect.

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Speaker 4: Patrice. We appreciate you, thank you, thank you, thank you,

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Speaker 4: thank you. Morgan. We coming to you. I mute yourself.

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Speaker 4: You've been unmuted. What's going on?

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Speaker 8: With fellas.

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Speaker 4: How y'all doing. How you I'm all right.

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Speaker 8: I had a quick question about you, I said earlier.

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Speaker 8: I think it was in a conventional loan for the

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Speaker 8: rehab money for the single families. I just wanted to know,

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Speaker 8: is there also opportunities to get money or different incentives

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Speaker 8: if you get that single family and the opportunity zone.

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Speaker 3: If you get the single family and the opportunity zone

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Speaker 3: for investment property, you can use family made home style.

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Speaker 3: It's not like you get like extra money just because

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Speaker 3: it's in the oz.

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Speaker 2: I mean that.

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Speaker 3: The money you'll get is in the future, you know, seven, eight,

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Speaker 3: nine years from now when people probably start selling because

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Speaker 3: it's all gonna be tax free.

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Speaker 2: Okay, I got you.

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Speaker 4: Appreciate it.

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Speaker 2: Morgan, appreciate you, marg I appreciate you. My guy shout

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Speaker 2: out to all the ernest.

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Speaker 6: I got like two more, man, you want to take

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Speaker 6: two more and then keep going?

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Speaker 2: Yeah? You go ahead?

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Speaker 6: All right, Christopher, you are unmuted.

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Speaker 4: I'm mute yourself. God.

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Speaker 2: Hello, yeah, yeah you just what's going on?

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Speaker 8: Man?

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Speaker 2: Just a quick question? So hard money could har money

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Speaker 2: be used.

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Speaker 3: For sixty teen units of ten to fifteen property? Depends

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Speaker 3: depends on who you're talking to. You do have hard

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Speaker 3: money lenders out there that only focus on the big

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Speaker 3: commercial stuff. So yeah, there are opportunities out there, but it's,

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Speaker 3: you know again, experience. If you have the experience, then

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00:21:26,320 --> 00:21:28,560
Speaker 3: you can you can find financing for anything you want.

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Speaker 6: Appreciate you, bro, Thanks Chris, Stephanie, we got you. U

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Speaker 6: mute yourself, You've been unmuted, God.

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Speaker 8: Thank you.

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Speaker 10: Hi everyone, I have a question. I'm trying to figure

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Speaker 10: out how if you don't own a property currently and

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Speaker 10: you know how if you have an FAHA or conventional

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Speaker 10: it can be three and a half if it's your

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Speaker 10: primary resident. So I'm trying to figure out if you

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Speaker 10: don't own anything, how do they know it's going to

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Speaker 10: be an investment property if technically it can be your

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Speaker 10: primary if you don't own another property.

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Speaker 2: Does that make sense?

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Speaker 3: So are you talking about if you're buying with hard

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Speaker 3: money or investment propertys or just FAHA and just in general.

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Speaker 10: Just in general, Like I know you have to put

444
00:22:14,400 --> 00:22:17,160
Speaker 10: fifteen percent to twenty five like you said if it's

445
00:22:17,160 --> 00:22:19,960
Speaker 10: an investment property, But what if I don't own another

446
00:22:20,000 --> 00:22:22,560
Speaker 10: property and this is my first property? And yes I

447
00:22:22,560 --> 00:22:25,879
Speaker 10: do want to look to rent it out later in life,

448
00:22:25,880 --> 00:22:28,639
Speaker 10: but like, how can I get in with just the

449
00:22:28,680 --> 00:22:31,280
Speaker 10: three and a half down versus going on.

450
00:22:31,920 --> 00:22:34,280
Speaker 2: Very very easy and simple just live there.

451
00:22:35,200 --> 00:22:38,200
Speaker 3: Okay, that's what you gotta do, bio multi family living

452
00:22:38,240 --> 00:22:40,800
Speaker 3: it for a year and then house hack your life away.

453
00:22:41,720 --> 00:22:43,240
Speaker 6: Okay, okay, you know.

454
00:22:43,320 --> 00:22:44,120
Speaker 2: So you can.

455
00:22:44,560 --> 00:22:47,320
Speaker 3: You can use FAHA as a tool to help you

456
00:22:47,359 --> 00:22:50,560
Speaker 3: build wealth with real estate. Three point five percent down

457
00:22:51,040 --> 00:22:54,399
Speaker 3: right now, credit scorees of ranging anywhere between six hundred

458
00:22:54,440 --> 00:22:56,800
Speaker 3: and six forty as a minimum score, just depending on

459
00:22:56,800 --> 00:22:59,679
Speaker 3: who you're speaking to. So yeah, you can buy own

460
00:22:59,720 --> 00:23:03,520
Speaker 3: an your pod multi family properties with the FAH loan

461
00:23:04,640 --> 00:23:05,880
Speaker 3: and just hold for a year.

462
00:23:06,600 --> 00:23:07,639
Speaker 2: Yeah, just living it for you.

463
00:23:07,680 --> 00:23:09,640
Speaker 3: Look, guys, if you want to go ahead in three

464
00:23:09,680 --> 00:23:12,960
Speaker 3: point five percent, get grant money, you know, do oer

465
00:23:13,000 --> 00:23:15,359
Speaker 3: PM your life away house hack your life away. The

466
00:23:15,400 --> 00:23:17,560
Speaker 3: system is heir is designed for you to do it.

467
00:23:18,000 --> 00:23:20,639
Speaker 3: You just got to play by the rules, you know,

468
00:23:20,800 --> 00:23:22,200
Speaker 3: and sacrifice that one year.

469
00:23:22,600 --> 00:23:29,159
Speaker 2: One year is nothing. Absolutely, thank you, Matt. Appreciate you.

470
00:23:29,840 --> 00:23:31,960
Speaker 6: Earn as we see, Matt, well, I'm gonna give you

471
00:23:31,960 --> 00:23:34,080
Speaker 6: the whole privileges back. I see there's a lot of questions.

472
00:23:34,080 --> 00:23:36,199
Speaker 6: We're gonna get to all the home. But let's take

473
00:23:36,200 --> 00:23:40,320
Speaker 6: an intimission. So YouTube YouTube, shout to everybody in YouTube,

474
00:23:40,320 --> 00:23:42,800
Speaker 6: shout out to prove it, mom for making encouraging people

475
00:23:42,840 --> 00:23:43,639
Speaker 6: to hit the like button.

476
00:23:43,640 --> 00:23:45,600
Speaker 4: Appreciate it's almost to prove that, mom.

477
00:23:46,320 --> 00:23:49,280
Speaker 5: If we can get everybody just to take a millisecond

478
00:23:49,680 --> 00:23:53,720
Speaker 5: and hit the like button, it's extremely free. You won't

479
00:23:53,720 --> 00:23:56,600
Speaker 5: even burn a calorie. So but it does actually help.

480
00:23:56,840 --> 00:23:58,960
Speaker 5: It helps with the algorithm and it helps the channel.

481
00:23:59,359 --> 00:24:03,160
Speaker 5: So we would greatly appreciate it if you guys can

482
00:24:03,280 --> 00:24:05,159
Speaker 5: just take a second out of your day and hit

483
00:24:05,160 --> 00:24:06,920
Speaker 5: the like button, we appreciate that.

484
00:24:07,359 --> 00:24:11,159
Speaker 3: And yeah, so also share this, man, share this with

485
00:24:11,200 --> 00:24:13,399
Speaker 3: your community right now. Tell your people as you getting

486
00:24:13,400 --> 00:24:15,720
Speaker 3: some good knowledge, and tell them to come come join

487
00:24:15,760 --> 00:24:16,680
Speaker 3: the party with us live.

488
00:24:17,440 --> 00:24:18,080
Speaker 4: That's a fact.

489
00:24:18,440 --> 00:24:21,080
Speaker 5: And yeah, once again, if people are just joined us,

490
00:24:21,520 --> 00:24:23,400
Speaker 5: they might be wondering, like who's on the zoom call.

491
00:24:23,520 --> 00:24:27,399
Speaker 5: So this is an open enrollment. Once a month we

492
00:24:27,480 --> 00:24:31,040
Speaker 5: do an open class just showing showcasing Eyo University. We

493
00:24:31,080 --> 00:24:33,120
Speaker 5: do this stuff every single week. We did a hard

494
00:24:33,160 --> 00:24:36,240
Speaker 5: money class. We do all kinds of different classes. And

495
00:24:36,800 --> 00:24:39,280
Speaker 5: if you're interested in joining Eyo University, you get access

496
00:24:39,320 --> 00:24:43,240
Speaker 5: to seventy past webinars, weekly webinars, access to our private

497
00:24:43,240 --> 00:24:46,359
Speaker 5: investment group on Facebook, access to the book and movie club,

498
00:24:46,440 --> 00:24:49,480
Speaker 5: and then Matt does a bi weekly real estate session

499
00:24:49,480 --> 00:24:50,160
Speaker 5: with the group.

500
00:24:50,240 --> 00:24:52,159
Speaker 6: So I see people that are asking questions like this,

501
00:24:52,440 --> 00:24:54,040
Speaker 6: what about NAC or what about Sony Maine.

502
00:24:54,080 --> 00:24:55,440
Speaker 4: We actually have class.

503
00:24:55,320 --> 00:24:58,200
Speaker 5: Now, we have a class on everything, class on that community.

504
00:24:58,560 --> 00:25:00,199
Speaker 5: We got a class on hard money. We got a

505
00:25:00,240 --> 00:25:03,000
Speaker 5: class on Section eight. So every single week it's a

506
00:25:03,000 --> 00:25:03,720
Speaker 5: different class.

507
00:25:03,880 --> 00:25:08,920
Speaker 3: We got a class on that class on wholesale and.

508
00:25:08,359 --> 00:25:11,560
Speaker 5: That I'm gonna be teaching a class soon about saving

509
00:25:11,560 --> 00:25:13,760
Speaker 5: for your kids because everybody keeps asking about that. So

510
00:25:14,160 --> 00:25:15,840
Speaker 5: I'm gonna teach a class about that, about how to

511
00:25:15,840 --> 00:25:18,359
Speaker 5: invest money for your kids. So yeah, the price, the

512
00:25:18,440 --> 00:25:21,639
Speaker 5: price is going up tomorrow. The price is told so

513
00:25:21,680 --> 00:25:23,159
Speaker 5: if you want to take advantage of this is the

514
00:25:23,200 --> 00:25:25,880
Speaker 5: lowest price it'll ever be. Put the information in here.

515
00:25:26,080 --> 00:25:29,280
Speaker 5: The code is earners and yeah, we would love to

516
00:25:29,280 --> 00:25:30,840
Speaker 5: see you on the other side. But Matt, I had

517
00:25:30,840 --> 00:25:33,640
Speaker 5: a question. Somebody said house hacking. You said that, Can

518
00:25:33,680 --> 00:25:36,440
Speaker 5: you just explain for people that might not be familiar

519
00:25:36,440 --> 00:25:38,440
Speaker 5: with what house hack? Because we always we always want

520
00:25:38,480 --> 00:25:42,040
Speaker 5: to make sure that everybody is taking part of the conversation.

521
00:25:42,080 --> 00:25:43,440
Speaker 4: We don't want to leave anybody behind.

522
00:25:43,520 --> 00:25:45,560
Speaker 6: Yeah, there was a few people like, oh man, this

523
00:25:45,640 --> 00:25:47,879
Speaker 6: sounds a little advanced, So let's go down just so what.

524
00:25:48,040 --> 00:25:50,320
Speaker 4: What what is house hacking? All right?

525
00:25:50,359 --> 00:25:50,600
Speaker 2: Gods?

526
00:25:50,680 --> 00:25:54,440
Speaker 3: So look, house hacking could be a variation of different things, right,

527
00:25:55,160 --> 00:25:58,320
Speaker 3: many people have different definitions for it. So when I

528
00:25:58,359 --> 00:26:01,000
Speaker 3: speak of house hacking, I'm more so saying go and

529
00:26:01,520 --> 00:26:05,359
Speaker 3: building a real estate portfolio using you know, minimum down

530
00:26:05,359 --> 00:26:08,960
Speaker 3: payments right, using the owner occupy strategy, staying in the

531
00:26:09,000 --> 00:26:11,480
Speaker 3: house for one or two years. Start off with a

532
00:26:11,560 --> 00:26:17,920
Speaker 3: four family FAHA three point five percent down refinance in

533
00:26:17,960 --> 00:26:20,840
Speaker 3: a year out off out of the FHA into a

534
00:26:20,880 --> 00:26:23,840
Speaker 3: conventional loan, Move out of the house, go buy another

535
00:26:24,200 --> 00:26:28,240
Speaker 3: property three family three point five percent down, living it

536
00:26:28,280 --> 00:26:31,399
Speaker 3: for a year to two, then repeat the cycle. Go

537
00:26:31,440 --> 00:26:33,920
Speaker 3: to the two families, so you go four three two one.

538
00:26:33,960 --> 00:26:37,199
Speaker 3: If your area is not does not have a lot

539
00:26:37,240 --> 00:26:40,840
Speaker 3: of four families or triplexus, then go duplex.

540
00:26:41,080 --> 00:26:44,120
Speaker 2: Right. It can work either which way. You can also

541
00:26:44,200 --> 00:26:46,720
Speaker 2: house hack by getting a single family and having roommates

542
00:26:47,080 --> 00:26:51,200
Speaker 2: right written out your rooms. I know folks who live

543
00:26:51,240 --> 00:26:55,040
Speaker 2: in the basement and airbnb their homes. Right. There's many different.

544
00:26:54,760 --> 00:26:58,560
Speaker 3: Ways to house hack to live for free. You just

545
00:26:58,600 --> 00:27:00,679
Speaker 3: have to pick a strategy that will works best for you.

546
00:27:01,960 --> 00:27:04,679
Speaker 3: This stuff is like real estate investment or just running

547
00:27:04,720 --> 00:27:08,159
Speaker 3: a business period. I think personally is unique to you.

548
00:27:08,240 --> 00:27:11,200
Speaker 3: It's like your fingerprint, right. You got to do what's

549
00:27:11,240 --> 00:27:13,360
Speaker 3: best for you. At the end of the day, everybody's

550
00:27:13,359 --> 00:27:15,600
Speaker 3: going to have an opinion. Run your business as you

551
00:27:15,640 --> 00:27:18,119
Speaker 3: see fit. Pick your lane of what you want to

552
00:27:18,160 --> 00:27:20,879
Speaker 3: go in and just go do it. You know, if

553
00:27:21,000 --> 00:27:25,400
Speaker 3: you don't have the capital to do twenty percent down,

554
00:27:25,680 --> 00:27:28,720
Speaker 3: thirty percent down, you can only do three point five.

555
00:27:29,000 --> 00:27:31,440
Speaker 2: Great, do it. There's options. You know, you can get

556
00:27:31,440 --> 00:27:33,040
Speaker 2: grants to help you with down payment.

557
00:27:33,040 --> 00:27:35,560
Speaker 3: You got programs like Sony Made, like you mentioned in

558
00:27:35,560 --> 00:27:37,000
Speaker 3: just a little while ago, where you can get down

559
00:27:37,000 --> 00:27:40,000
Speaker 3: payment assistance, and these things are available all over the country.

560
00:27:40,040 --> 00:27:41,919
Speaker 3: You just have to know where to look. You have

561
00:27:42,000 --> 00:27:45,600
Speaker 3: to work with the right team of real estate professionals, realtors,

562
00:27:45,760 --> 00:27:49,159
Speaker 3: loan offices, and use Google and Google this stuff is

563
00:27:49,280 --> 00:27:52,000
Speaker 3: right there at your fingertips. So there's many different options,

564
00:27:52,359 --> 00:27:55,000
Speaker 3: and there's many different ways where people can get in

565
00:27:55,040 --> 00:27:57,639
Speaker 3: the game and house hack and build up a portfolio

566
00:27:57,720 --> 00:27:59,199
Speaker 3: in a couple of years. I've seen it time and

567
00:27:59,200 --> 00:27:59,720
Speaker 3: time again.

568
00:28:00,800 --> 00:28:04,199
Speaker 6: Yeah, man, you said a lot of important people just

569
00:28:04,240 --> 00:28:06,600
Speaker 6: now in what you were saying. But if I'm a

570
00:28:06,640 --> 00:28:09,240
Speaker 6: first time investor, like who should be on my team?

571
00:28:09,320 --> 00:28:11,920
Speaker 6: Like what players should I be putting on my team

572
00:28:11,960 --> 00:28:13,320
Speaker 6: if I'm going into the investment game.

573
00:28:13,560 --> 00:28:16,760
Speaker 3: So I think if you're buying real estate period, you

574
00:28:16,840 --> 00:28:20,160
Speaker 3: should have a loan officer or you know, a money

575
00:28:20,200 --> 00:28:23,200
Speaker 3: a mortgage guy, mortgage girl. Right, you need a realtor,

576
00:28:23,600 --> 00:28:27,040
Speaker 3: you need a wholesaler, you need a contractor you know

577
00:28:27,040 --> 00:28:27,560
Speaker 3: what I'm saying.

578
00:28:27,640 --> 00:28:29,000
Speaker 2: You need hope.

579
00:28:29,040 --> 00:28:33,760
Speaker 3: You need attorneys very important. You definitely need attorneys. Even

580
00:28:33,800 --> 00:28:37,560
Speaker 3: if your state is not an attorney state, you still

581
00:28:37,560 --> 00:28:39,960
Speaker 3: need an attorney just in case someone's going to suit you.

582
00:28:40,280 --> 00:28:42,440
Speaker 2: Right, you need property managers.

583
00:28:42,480 --> 00:28:44,800
Speaker 3: If you're investing out of state, you need someone who

584
00:28:44,880 --> 00:28:49,080
Speaker 3: can help manage those properties. Man, you need a CPA.

585
00:28:49,760 --> 00:28:52,480
Speaker 3: Let's talk about that for a second, because remember this

586
00:28:52,520 --> 00:28:55,920
Speaker 3: is a whole wealth play, right, This is about generational wealth,

587
00:28:55,960 --> 00:28:59,280
Speaker 3: and you need to have your CPA. You need to

588
00:28:59,360 --> 00:29:02,200
Speaker 3: have a U, the state plan. You need to be

589
00:29:02,240 --> 00:29:04,959
Speaker 3: able to have these these things together because if you're

590
00:29:05,000 --> 00:29:06,360
Speaker 3: going to be out here buying real.

591
00:29:06,320 --> 00:29:07,960
Speaker 2: Estate, you need to be able to pass it down.

592
00:29:08,440 --> 00:29:08,640
Speaker 4: Right.

593
00:29:08,960 --> 00:29:11,520
Speaker 3: We're working hard out here to acquire this knowledge, to

594
00:29:11,600 --> 00:29:16,720
Speaker 3: acquire this wealth that we all have opportunity to get. Yo,

595
00:29:16,840 --> 00:29:19,200
Speaker 3: make sure you do it right, man, Get your state plans,

596
00:29:19,240 --> 00:29:22,880
Speaker 3: get your insurance, get everything that you need, and that

597
00:29:23,080 --> 00:29:24,480
Speaker 3: needs to be a part of your team.

598
00:29:24,600 --> 00:29:24,760
Speaker 4: Right.

599
00:29:24,960 --> 00:29:27,160
Speaker 2: It's not just about can I go buy some houses?

600
00:29:27,640 --> 00:29:29,520
Speaker 2: You know what I mean? You need to have everything

601
00:29:29,600 --> 00:29:30,400
Speaker 2: come full circle.

602
00:29:31,600 --> 00:29:35,040
Speaker 5: Dope, dope, just all right? So you want to keep

603
00:29:35,080 --> 00:29:36,720
Speaker 5: going with your slides. You want to take some more.

604
00:29:36,680 --> 00:29:38,800
Speaker 3: Questions now, No, no, no, let me let me keep going

605
00:29:38,840 --> 00:29:40,600
Speaker 3: so we can wrap this up. I can wrap this

606
00:29:40,680 --> 00:29:43,240
Speaker 3: up in like five minutes, all right, all right, So

607
00:29:43,360 --> 00:29:46,240
Speaker 3: look I see my screen.

608
00:29:47,360 --> 00:29:49,400
Speaker 2: All right, great, so let's get onto asset base.

609
00:29:49,520 --> 00:29:49,600
Speaker 6: Right.

610
00:29:49,680 --> 00:29:51,440
Speaker 3: So a lot of people in the comments on YouTube

611
00:29:51,960 --> 00:29:56,800
Speaker 3: earners asking about the birth strategy buy, renovate, refinance, rent

612
00:29:56,840 --> 00:29:59,320
Speaker 3: and repeat. Right, So this is the most important part

613
00:29:59,360 --> 00:30:03,560
Speaker 3: of that birth strategies. Your refinance. Okay, your asset based lender.

614
00:30:03,800 --> 00:30:06,680
Speaker 3: You need to find your asset based lender EYL private

615
00:30:06,720 --> 00:30:08,960
Speaker 3: Facebook group. No worries, I'm gonna put it some in

616
00:30:09,320 --> 00:30:11,960
Speaker 3: the group so that way you guys have direct access

617
00:30:11,960 --> 00:30:15,440
Speaker 3: to it. All right, minimum credit score six sixty to

618
00:30:15,480 --> 00:30:20,280
Speaker 3: six eighty. No income verification is needed, so no W two's,

619
00:30:20,280 --> 00:30:23,000
Speaker 3: no pay stubs, no bank statements, none of that stuff.

620
00:30:23,040 --> 00:30:26,200
Speaker 3: Like a conventional loan. Only rental income is used to

621
00:30:26,280 --> 00:30:32,479
Speaker 3: qualify for the loan closed thirty to forty five days,

622
00:30:33,480 --> 00:30:37,320
Speaker 3: all right. Thirty day of ownership seasoning very important. So

623
00:30:37,360 --> 00:30:41,160
Speaker 3: if you buy, you know, a home at of foreclosure auction,

624
00:30:41,320 --> 00:30:44,000
Speaker 3: you use hard money, it needed a light fix up.

625
00:30:44,840 --> 00:30:47,080
Speaker 3: You can be in and out of that project thirty days.

626
00:30:47,120 --> 00:30:50,240
Speaker 3: Refinance into an asset based loan, no season and no

627
00:30:50,320 --> 00:30:54,920
Speaker 3: problem as long as the rental income is enough for

628
00:30:55,000 --> 00:30:58,200
Speaker 3: the owner to make at least twenty percent profit. Right DSCR.

629
00:30:58,720 --> 00:31:03,000
Speaker 3: We'll have a class on that. Eyou about DSR. Five

630
00:31:03,160 --> 00:31:06,000
Speaker 3: seven year arms and thirty year terms are available, so

631
00:31:06,040 --> 00:31:08,400
Speaker 3: you can do a five year, seven year justible rate.

632
00:31:09,760 --> 00:31:11,120
Speaker 2: All you can do a thirty year fix.

633
00:31:11,880 --> 00:31:16,320
Speaker 3: Twenty percent down for purchase price for a purchase, seventy

634
00:31:16,360 --> 00:31:20,040
Speaker 3: five percent for a rate in turn refinance, seventy percent

635
00:31:20,120 --> 00:31:23,000
Speaker 3: for a cash out refile. Now this is for one

636
00:31:23,000 --> 00:31:25,719
Speaker 3: to four family properties, so you can with an asset

637
00:31:25,760 --> 00:31:28,280
Speaker 3: based loan if you if you have twenty percent down

638
00:31:28,360 --> 00:31:30,960
Speaker 3: and you want to buy a multifamily, you can put

639
00:31:31,000 --> 00:31:33,840
Speaker 3: twenty percent down if you want to refinance out of

640
00:31:33,880 --> 00:31:37,120
Speaker 3: your hard money. This seventy five percent, right, there is

641
00:31:37,160 --> 00:31:40,400
Speaker 3: the key. Right, you can go a rate in term

642
00:31:40,840 --> 00:31:43,880
Speaker 3: up to seventy five percent LTV. So remember, guys, in

643
00:31:43,920 --> 00:31:46,920
Speaker 3: that example I gave earlier, you purchase the price for

644
00:31:46,960 --> 00:31:50,400
Speaker 3: fIF the property for fifty thousand, You put fifteen thousand

645
00:31:50,440 --> 00:31:53,800
Speaker 3: to rehab into it, so that's sixty five thousand. So

646
00:31:53,880 --> 00:31:57,400
Speaker 3: if we can do a rate in turn refinance, I

647
00:31:57,400 --> 00:31:59,080
Speaker 3: want you guys to put in the comments. If my

648
00:31:59,160 --> 00:32:04,080
Speaker 3: max LTV is seventy five percent, what what amount can

649
00:32:04,120 --> 00:32:04,640
Speaker 3: we go up to?

650
00:32:04,720 --> 00:32:06,400
Speaker 2: What's the max loan amount? Let's see if you guys

651
00:32:06,400 --> 00:32:07,640
Speaker 2: are paying attention. YouTube.

652
00:32:08,320 --> 00:32:10,120
Speaker 3: Let's see if you're paying attention. Put that in the

653
00:32:10,120 --> 00:32:12,200
Speaker 3: comments for me. Right, if you're LTV on the rate

654
00:32:12,240 --> 00:32:15,560
Speaker 3: in turn refinance is seventy five you pay fifty fifteen

655
00:32:15,680 --> 00:32:18,800
Speaker 3: K a rehab. What's your maximum loans amount to be

656
00:32:18,880 --> 00:32:21,760
Speaker 3: up to put in the comments? All right, seventy percent

657
00:32:21,840 --> 00:32:26,120
Speaker 3: cash out refinance. And I guess everybody's slow with the

658
00:32:26,120 --> 00:32:26,640
Speaker 3: math today.

659
00:32:30,880 --> 00:32:35,680
Speaker 2: Yeah number, Yeah, I can't.

660
00:32:35,760 --> 00:32:36,120
Speaker 4: I can't.

661
00:32:36,160 --> 00:32:38,400
Speaker 3: I can't see it on the earners, but in YouTube

662
00:32:38,440 --> 00:32:39,680
Speaker 3: they still is my lasses.

663
00:32:40,000 --> 00:32:41,840
Speaker 4: Yeah, earners is really smart people.

664
00:32:41,920 --> 00:32:47,080
Speaker 5: I just really algebra these formulas.

665
00:32:47,680 --> 00:32:48,600
Speaker 4: No calcul.

666
00:32:51,360 --> 00:32:53,520
Speaker 2: Maybe quick math. You got to know the numbers, kid,

667
00:32:53,560 --> 00:32:55,200
Speaker 2: like Darren Falcon said, you gotta.

668
00:32:55,040 --> 00:32:56,520
Speaker 4: Know your numbers to know your numbers.

669
00:32:56,520 --> 00:32:59,520
Speaker 3: Doesn't know your numbers. How you're going to analyze the deal?

670
00:33:00,040 --> 00:33:01,719
Speaker 4: We go YouTube running up the numbers. Now there were

671
00:33:01,720 --> 00:33:01,960
Speaker 4: going to.

672
00:33:02,200 --> 00:33:04,560
Speaker 2: Finally YouTube, Finally, I don't know if it's a delay

673
00:33:04,640 --> 00:33:05,720
Speaker 2: on my device.

674
00:33:07,520 --> 00:33:09,920
Speaker 4: Definite bro. Shout out to YouTube.

675
00:33:10,200 --> 00:33:12,440
Speaker 2: Shout out to YouTube, but shout out to the earnest.

676
00:33:12,520 --> 00:33:13,360
Speaker 4: Somebody said, I'm.

677
00:33:16,320 --> 00:33:19,800
Speaker 3: All right, so you could close the LLC name investment

678
00:33:19,800 --> 00:33:23,360
Speaker 3: properties only, Like I said, rent ready properties very important.

679
00:33:23,800 --> 00:33:27,320
Speaker 3: You cannot do an asset based loan that needs If

680
00:33:27,320 --> 00:33:29,520
Speaker 3: it needs rehab it won't work.

681
00:33:29,720 --> 00:33:31,440
Speaker 2: It needs to be rent ready. It doesn't have to

682
00:33:31,480 --> 00:33:32,000
Speaker 2: be rented.

683
00:33:32,440 --> 00:33:35,920
Speaker 3: You can use market rents to help qualify for the

684
00:33:36,000 --> 00:33:38,680
Speaker 3: refinance or the purchase. It doesn't have to be rented,

685
00:33:38,720 --> 00:33:39,960
Speaker 3: but it has to be rent ready.

686
00:33:40,200 --> 00:33:40,360
Speaker 2: Right.

687
00:33:40,440 --> 00:33:43,600
Speaker 3: You can do use long term and short term rental

688
00:33:43,640 --> 00:33:45,600
Speaker 3: income to help you qualify as well.

689
00:33:45,720 --> 00:33:48,280
Speaker 5: So Matt with the answer to the question, seventy five thousand.

690
00:33:48,400 --> 00:33:50,280
Speaker 2: Yeah, seventy five thousand, that was the answer.

691
00:33:50,480 --> 00:33:53,560
Speaker 3: Okay, seventy five percent LTV shout out to everybody who

692
00:33:53,600 --> 00:33:56,560
Speaker 3: says seventy five thousand. There was a few on on YouTube,

693
00:33:56,560 --> 00:33:58,560
Speaker 3: but a lot of them was way off. Right.

694
00:34:02,160 --> 00:34:07,600
Speaker 2: I ain't gonna call y'all out by name, but jeez man,

695
00:34:07,880 --> 00:34:09,120
Speaker 2: it's so good, so good.

696
00:34:09,160 --> 00:34:09,759
Speaker 4: That's all good.

697
00:34:09,840 --> 00:34:13,759
Speaker 3: That's why, that's that's why you need a mortgage guy

698
00:34:13,920 --> 00:34:15,600
Speaker 3: or a mortgage girl higher at us.

699
00:34:15,800 --> 00:34:16,000
Speaker 4: Right.

700
00:34:16,320 --> 00:34:18,040
Speaker 3: So, look, this is the most important part of the

701
00:34:18,040 --> 00:34:20,960
Speaker 3: presentation to me, Right, why should you buy and invest?

702
00:34:21,160 --> 00:34:21,319
Speaker 4: Right?

703
00:34:21,400 --> 00:34:25,560
Speaker 3: This is especially in today's time. Right, we have a

704
00:34:25,600 --> 00:34:27,719
Speaker 3: lot going on with the race war and everything. So

705
00:34:27,760 --> 00:34:30,480
Speaker 3: we got to really understand where we came from. And

706
00:34:30,480 --> 00:34:33,200
Speaker 3: while we need to take pride and ownership right. I

707
00:34:33,239 --> 00:34:34,880
Speaker 3: see a lot of people on the internet time I

708
00:34:34,960 --> 00:34:37,120
Speaker 3: never buy a single family home, Never do this, never

709
00:34:37,239 --> 00:34:41,920
Speaker 3: do that. Look, screw everybody, right, we gotta take priduct ownership.

710
00:34:42,040 --> 00:34:46,040
Speaker 3: Own some ship. I don't care if you own primary residents.

711
00:34:46,160 --> 00:34:47,960
Speaker 3: If you just want to rent your whole life, go

712
00:34:48,000 --> 00:34:50,880
Speaker 3: own some investment properties. There's plenty of places where you

713
00:34:50,920 --> 00:34:53,440
Speaker 3: can go for cheap and get some investment properties. But

714
00:34:53,480 --> 00:34:57,040
Speaker 3: we got to take pride in this ownership right. Generational

715
00:34:57,200 --> 00:35:00,840
Speaker 3: wealth in real estate is the number one source of

716
00:35:01,560 --> 00:35:04,000
Speaker 3: generational wealth in America.

717
00:35:04,120 --> 00:35:05,200
Speaker 2: It's proven fact.

718
00:35:05,200 --> 00:35:10,080
Speaker 3: But we've been through gym core laws, red lining, systemic racism.

719
00:35:10,239 --> 00:35:13,160
Speaker 3: We've been through so much, and our ancestor has been

720
00:35:13,160 --> 00:35:15,279
Speaker 3: through so much to get us to the right to

721
00:35:15,320 --> 00:35:18,600
Speaker 3: where we can really go at any hood right, any

722
00:35:18,680 --> 00:35:21,839
Speaker 3: hood and buy right. Money is available for us.

723
00:35:21,920 --> 00:35:22,080
Speaker 2: Right.

724
00:35:22,120 --> 00:35:25,640
Speaker 3: They tried to red line us forty fifty sixty years ago,

725
00:35:25,960 --> 00:35:29,279
Speaker 3: but they can't stop us now. Right, anyway you put it,

726
00:35:29,320 --> 00:35:31,040
Speaker 3: they can't stop us. They're going to try to still

727
00:35:31,080 --> 00:35:34,359
Speaker 3: do the bs. But look, we control this man. I'm

728
00:35:34,360 --> 00:35:37,280
Speaker 3: telling you, we're lending billions and billions.

729
00:35:36,880 --> 00:35:38,680
Speaker 2: Of dollars to people. People.

730
00:35:38,719 --> 00:35:41,040
Speaker 3: Come get your piece of it, because our people fought

731
00:35:41,040 --> 00:35:43,560
Speaker 3: for this, for this right, for us to be sitting

732
00:35:43,600 --> 00:35:46,440
Speaker 3: here today, to be able to talk about this. They

733
00:35:46,520 --> 00:35:48,239
Speaker 3: fought for this. You got to really think about that.

734
00:35:48,360 --> 00:35:51,160
Speaker 3: So when you guys are sitting on the sidelines, just

735
00:35:51,200 --> 00:35:53,319
Speaker 3: think about You got people that came wait before you

736
00:35:53,400 --> 00:35:55,200
Speaker 3: to get us to where we are. And if you

737
00:35:55,239 --> 00:35:58,120
Speaker 3: look at the Black home ownership rate, it increased by

738
00:35:58,200 --> 00:36:01,160
Speaker 3: four percent year over year, but we got so much

739
00:36:01,239 --> 00:36:05,160
Speaker 3: room to grow. Like our peers sixty five percent. You

740
00:36:05,160 --> 00:36:08,080
Speaker 3: know what I'm saying, we have forty four percent. But

741
00:36:08,360 --> 00:36:10,120
Speaker 3: we got a lot of people out here looking rich,

742
00:36:10,760 --> 00:36:13,000
Speaker 3: but a lot of people still ain't owner stuff. We

743
00:36:13,080 --> 00:36:15,600
Speaker 3: got to take pride in this ownership man. Our neighborhoods

744
00:36:15,600 --> 00:36:18,640
Speaker 3: are the opportunity zones. If we don't gentrify our own hoods,

745
00:36:18,640 --> 00:36:22,239
Speaker 3: we can't complain about it. We now have the knowledge,

746
00:36:22,000 --> 00:36:25,560
Speaker 3: the expertise. We have people that look just like us

747
00:36:25,560 --> 00:36:29,400
Speaker 3: that can assist you with home ownership, whether it's investing,

748
00:36:30,440 --> 00:36:33,319
Speaker 3: whether it's behind the primary residents, whatever it is. Right,

749
00:36:33,840 --> 00:36:36,400
Speaker 3: we have these opportunities in front of us, So please

750
00:36:36,440 --> 00:36:39,239
Speaker 3: don't take this for granted. Guys, we owe it to

751
00:36:39,280 --> 00:36:42,320
Speaker 3: our ancestors to be owners. The only way we combat

752
00:36:42,440 --> 00:36:44,800
Speaker 3: racism is if.

753
00:36:44,600 --> 00:36:46,640
Speaker 2: We go out here and own some shit.

754
00:36:47,040 --> 00:36:47,200
Speaker 4: Right.

755
00:36:47,280 --> 00:36:49,279
Speaker 2: We can't change nothing if we're not own this.

756
00:36:49,440 --> 00:36:52,640
Speaker 3: If we're always going to have that consumer mentality and

757
00:36:52,719 --> 00:36:55,920
Speaker 3: not own our stuff, then we're never going to change anything.

758
00:36:56,440 --> 00:36:56,799
Speaker 8: We have.

759
00:36:56,920 --> 00:37:00,640
Speaker 3: The best, like our black dollar is crazy. We got

760
00:37:00,640 --> 00:37:03,080
Speaker 3: to stop putting this into our own neighborhoods and.

761
00:37:03,080 --> 00:37:06,279
Speaker 2: Really going out here to start buying. So that's all

762
00:37:06,280 --> 00:37:06,959
Speaker 2: I got to say.

763
00:37:07,360 --> 00:37:13,600
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764
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