WEBVTT - Study Hall: How To Buy Back The Block with Chris Senegal 0:00:00.040 --> 0:00:03.600 An illegal alien from Guatemala charged with raping a child 0:00:03.680 --> 0:00:07.480 in Massachusetts. An MS thirteen gang member from Al Salvador 0:00:07.720 --> 0:00:11.840 accused of murdering a Texas man of Venezuelan charged with 0:00:11.920 --> 0:00:15.840 filming and selling child pornography in Michigan. These are just 0:00:15.920 --> 0:00:19.680 some of the heinous migrant criminals caught because of President 0:00:19.720 --> 0:00:23.320 Donald J. Trump's leadership. I'm Christy nom the United States 0:00:23.320 --> 0:00:28.120 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:00:28.160 --> 0:00:31.680 crossings are at the lowest levels ever recorded, and over 0:00:31.760 --> 0:00:34.960 one hundred thousand illegal aliens have been arrested. If you 0:00:35.040 --> 0:00:38.920 are here illegally, your next you will be fined nearly 0:00:39.000 --> 0:00:43.000 one thousand dollars a day, imprisoned, and deported. You will 0:00:43.040 --> 0:00:46.680 never return. But if you register using our CBP home 0:00:46.720 --> 0:00:50.120 app and leave now, you could be allowed to return legally. 0:00:50.479 --> 0:00:55.240 Do what's right. Leave now. Under President Trump, America's laws, 0:00:55.400 --> 0:00:57.840 border and families will be protected. 0:00:57.920 --> 0:01:03.200 Sponsored by the United States Department of Homeland Security. 0:01:06.720 --> 0:01:08.800 All right, guys, So a lot of people asks us 0:01:08.800 --> 0:01:10.600 how do they make a podcast? So I'm let you 0:01:10.680 --> 0:01:14.840 on a secret on the easiest, most productive way to 0:01:14.959 --> 0:01:17.360 start a podcast and get it up and running. And 0:01:17.400 --> 0:01:20.880 that is the app called Anchor is free. They have 0:01:20.959 --> 0:01:23.120 all kinds of cool creation tools that allow you to 0:01:23.200 --> 0:01:26.040 record and edit your podcast right from your phone a computer. 0:01:26.480 --> 0:01:28.800 They will distribute your podcast for you to all of 0:01:28.840 --> 0:01:33.000 the major outlets including Spotify, Apple, Google, manymore, and you 0:01:33.040 --> 0:01:36.160 can make money from your podcast with no minimum listenership. 0:01:36.400 --> 0:01:39.280 It's everything you need to make a podcast in one simple, 0:01:39.400 --> 0:01:43.120 easy place. So if you're interested in starting a podcast, 0:01:43.480 --> 0:01:47.480 go download the free Anchor app or go to anchor 0:01:47.640 --> 0:01:50.160 dot fm to get started. Let's do it. 0:01:55.640 --> 0:02:00.160 My graduates from my school being forts backdrop. 0:02:00.240 --> 0:02:14.959 Bag drop, Mike drop back, drop drop. I hope everybody 0:02:15.000 --> 0:02:16.959 got a chance to check out to kill a mic episode. 0:02:17.080 --> 0:02:21.000 That's all right now on all platforms. The young legend himself, Chris, 0:02:21.040 --> 0:02:21.880 what's going on? Brother? 0:02:22.720 --> 0:02:23.160 Are y'all? 0:02:23.560 --> 0:02:25.880 Oh we're great, bron how you I'm great? 0:02:25.919 --> 0:02:29.480 Man, I'm great, blessed man. Can't complain, yo, man. 0:02:29.480 --> 0:02:31.360 We gotta make it back to age down, that's a fact. 0:02:31.440 --> 0:02:32.239 Yeah, we can't wait. 0:02:32.760 --> 0:02:33.000 It was. 0:02:33.040 --> 0:02:34.239 It was, it was too short. 0:02:36.120 --> 0:02:38.320 That was our first time. It was definitely a memorable one. 0:02:38.360 --> 0:02:40.960 The right and then COVID hit right before y'all were 0:02:40.960 --> 0:02:42.520 coming back right, Yeah, we was. 0:02:42.560 --> 0:02:44.079 We was talking to you, and I was talking to 0:02:44.120 --> 0:02:46.040 you trying to work out like venues and eights and 0:02:46.040 --> 0:02:48.080 all that. Then was like they had the rodeo going 0:02:48.120 --> 0:02:50.200 on and it was a bunch of stuff. We had 0:02:50.200 --> 0:02:52.560 to push it back because we had Philly and we 0:02:52.560 --> 0:02:54.680 actually could we couldn't get either one off. We had 0:02:54.680 --> 0:02:57.880 to cancel Philly like two days before, and Houston was 0:02:57.880 --> 0:03:01.320 supposed to be after Philly. So God will and whenever 0:03:01.360 --> 0:03:04.160 this thing clears up finally, man, we're coming back. Were 0:03:04.160 --> 0:03:07.320 coming back to Houston, full, full steam ahead. 0:03:07.840 --> 0:03:09.520 Gotta make it happen, man, gotta make it happen. 0:03:09.560 --> 0:03:10.639 We had a good time out there. 0:03:10.680 --> 0:03:16.160 Chris shout out to Htown, Man, shout out to Htown 0:03:16.200 --> 0:03:19.280 for sure. Man. So yeah, man, we're gonna just you know, 0:03:19.400 --> 0:03:22.160 let people settle in here. But once again, thank you 0:03:22.200 --> 0:03:25.840 for joining us. I feel like, you know, we just 0:03:25.880 --> 0:03:27.960 shot your episode. It's crazy how time flies. 0:03:28.000 --> 0:03:30.640 That was man, Yeah really but man, just watching the 0:03:30.680 --> 0:03:33.399 trajectory of ey L Man, it's been it's been phenomenal 0:03:33.400 --> 0:03:33.679 to watch. 0:03:33.720 --> 0:03:33.840 Man. 0:03:33.880 --> 0:03:34.800 I'm like the biggest fan. 0:03:35.320 --> 0:03:37.440 Yeah, man, we shot that, we shot your episode. 0:03:37.600 --> 0:03:42.240 We went to we did our Houston open house in 0:03:42.240 --> 0:03:43.840 a sense really meet and greet. 0:03:44.960 --> 0:03:46.400 I was like, yo, man, we got a special one 0:03:46.440 --> 0:03:48.880 with you. I love that. 0:03:50.880 --> 0:03:52.960 Yeah that was that was dope, man. That was dope. 0:03:53.040 --> 0:03:56.720 So yeah, if anybody's not familiar Chris Sinega a legend 0:03:56.800 --> 0:04:00.600 in his own right episode thirty six at Lisia, you 0:04:00.600 --> 0:04:02.400 should definitely check that out if you get a chance. 0:04:03.320 --> 0:04:06.360 So at the time, this is actually dope because at 0:04:06.360 --> 0:04:10.160 the time he was like in the process of like 0:04:10.200 --> 0:04:12.200 he brought a whole block in Houston. So I won't 0:04:12.240 --> 0:04:14.000 go over the whole story because it's in the episode. 0:04:14.040 --> 0:04:16.440 So what happened is that, you know, he was a 0:04:16.520 --> 0:04:19.800 real estate developer and then he brought a whole block 0:04:19.920 --> 0:04:22.440 in Houston, Texas in the Fifth Ward, which at the 0:04:22.480 --> 0:04:28.720 time was run down like prostitution, drugs, stuff like that, 0:04:29.160 --> 0:04:32.120 and he changed the whole the whole face of the 0:04:32.160 --> 0:04:35.640 block and he put like townhouses up. But what makes 0:04:35.680 --> 0:04:38.800 him different is that he's not just you know, bringing 0:04:38.839 --> 0:04:42.120 people in, just you know, gentifying the neighborhood. So what 0:04:42.160 --> 0:04:45.279 happens a lot of times and and poor working class 0:04:45.279 --> 0:04:48.080 neighborhoods is that you know, people do well for themselves, right, 0:04:48.120 --> 0:04:50.360 they grow up in the neighborhood. But they might become 0:04:50.400 --> 0:04:53.720 a doctor, a lawyer, accountant, or whatever. Right, maybe they 0:04:53.720 --> 0:04:56.840 get a six figure job, and then they move into 0:04:56.880 --> 0:05:00.320 the suburbs. So the problem with doing that is that now, 0:05:00.680 --> 0:05:03.520 as we put in the post today, the suburbs the dollars. 0:05:03.960 --> 0:05:06.960 It helps their school district, that helps their roads that 0:05:08.560 --> 0:05:14.159 you know, their infrastructure, and meanwhile the hood place you 0:05:14.160 --> 0:05:16.800 grew up in never gets that. But what does come 0:05:17.080 --> 0:05:20.039 is that now people that are not from that neighborhood 0:05:20.320 --> 0:05:24.160 come into that neighborhood and then they start investing. And 0:05:24.240 --> 0:05:26.600 now what happens is that the people that the culture 0:05:26.680 --> 0:05:29.240 actually changes and the people gets pushed out. So he 0:05:29.320 --> 0:05:32.120 had the idea, like to say, okay, well, why don't 0:05:32.160 --> 0:05:34.680 we bring the people that are originally from this neighborhood. 0:05:34.720 --> 0:05:37.000 They got families in this neighborhood that grew up in 0:05:37.000 --> 0:05:39.200 this neighborhood or just grew up in similar type of 0:05:39.200 --> 0:05:44.000 neighborhoods and bring them back. Right, so working class professionals 0:05:44.560 --> 0:05:47.279 instead of going to the suburbs, come back into the 0:05:47.320 --> 0:05:50.200 inner city and let's change the culture of it, like 0:05:50.279 --> 0:05:52.640 let's get better schools, let's get you know, let's make 0:05:52.680 --> 0:05:55.239 it a safe environment. Let's do all that, but let's 0:05:55.240 --> 0:05:58.559 do it responsibly. So he was like the first person 0:05:58.680 --> 0:06:02.960 that we really interviewed that at that that strategy. And 0:06:03.080 --> 0:06:04.720 so from now and I'll let him tell it better 0:06:04.760 --> 0:06:09.120 than I can, but from from that point until now, 0:06:09.560 --> 0:06:13.320 he he brought and sold. He built and sold five homes. 0:06:13.320 --> 0:06:16.960 He started working on eight. He started, he's starting working 0:06:16.960 --> 0:06:20.760 on eight next month. He purchased eighteen houses in two 0:06:20.839 --> 0:06:25.479 commercial buildings in March, and so he's actually like in 0:06:25.520 --> 0:06:29.760 the process of actually buying back the block in real time. 0:06:30.000 --> 0:06:32.720 So it's fitting because you know, shout out, shout out 0:06:32.720 --> 0:06:34.280 to Houston. But like when I think of Houston, I 0:06:34.320 --> 0:06:37.279 think a scarface and his knee had to saw my block. Yeah, 0:06:37.320 --> 0:06:39.040 I'm looking like, yo, Chris really did. 0:06:38.880 --> 0:06:40.400 It, And this who happens? 0:06:40.400 --> 0:06:42.120 When we went there, we stayed in the fifth ward, 0:06:42.480 --> 0:06:45.400 third ward door door World, third Ward, and I was like, yo, 0:06:45.440 --> 0:06:47.400 I remember one day we lost I thought we lost Shotty. 0:06:47.560 --> 0:06:50.240 I was like, yo, bro, yo, everybody seem Shotty and yeah, 0:06:50.240 --> 0:06:51.880 we couldn't find him. We like, yo, damn, I think 0:06:51.880 --> 0:06:54.360 somebody followed us to the crib bro they got him. 0:06:54.920 --> 0:06:57.240 He's like walking like aimlessly down the block, like this 0:06:57.279 --> 0:06:58.640 is a nice neighborhood. He's like, you know, I just 0:06:58.640 --> 0:07:02.680 saw Chris Senegal. He's scouting. 0:07:03.880 --> 0:07:07.120 They thought I got kidnapped. Was running out the house, 0:07:07.200 --> 0:07:10.000 like where is he? Where's he at? Like I'm like, 0:07:10.160 --> 0:07:13.960 I just took the shoulder the neighborhood. Man. They literally 0:07:14.040 --> 0:07:18.040 thought I got kidnapped in Houston, right. But but yeah, 0:07:18.080 --> 0:07:21.640 so Chris, So what we're going to do is I'm 0:07:21.680 --> 0:07:23.320 gonna let you go through your presentation all that, but 0:07:23.440 --> 0:07:27.520 before we even start anything that I missed out as 0:07:27.560 --> 0:07:30.760 far as the backstory or where you're at now, as 0:07:30.760 --> 0:07:32.600 far as the development things of that nature. 0:07:33.080 --> 0:07:34.880 Man, you hit all important points. I mean, you know, 0:07:35.040 --> 0:07:37.880 we've got two different projects. One is, you know, the 0:07:37.920 --> 0:07:39.240 new construction bringing in the. 0:07:39.200 --> 0:07:41.600 Higher incomes back to the community, and the other one 0:07:41.680 --> 0:07:45.680 is that eighteen house portfolio bought is specifically to protect 0:07:45.680 --> 0:07:48.360 the existing residents. You know, we can try to get 0:07:48.360 --> 0:07:50.800 the city to control the rents or whatever talk about 0:07:51.080 --> 0:07:53.360 you know, stopping gentrification, but we can't stop it. The 0:07:53.440 --> 0:07:55.640 only way you really control the rents is to own 0:07:55.680 --> 0:07:57.800 the real estate that the rents come from. 0:07:58.080 --> 0:08:00.000 And so that's been my focus. Man. Just trying to 0:08:00.080 --> 0:08:02.560 so that we can do both sides. So yes, I'll 0:08:02.560 --> 0:08:04.120 get into a little presentation. We'll talk about that. 0:08:04.120 --> 0:08:06.480 In a second, all right, so let's get into it. 0:08:06.480 --> 0:08:09.800 So before we start, we're going welcome everybody. So what 0:08:09.880 --> 0:08:11.560 we do we do this. We do this once a 0:08:11.560 --> 0:08:13.440 month at the end of the month, so we have 0:08:13.600 --> 0:08:17.480 eyl University, and part of eyl University is that we 0:08:17.520 --> 0:08:20.160 do weekly classes. Like we do a class every single 0:08:20.200 --> 0:08:22.800 week every Wednesday at eight o'clock Eastern Standard time, and 0:08:22.880 --> 0:08:25.600 then at the last Wednesday of each month, we open 0:08:25.640 --> 0:08:27.360 it up for the public so they can like you know, 0:08:27.440 --> 0:08:28.880 have like an open house. It's kind of like an 0:08:28.920 --> 0:08:30.880 open house type deal. So what we do with the 0:08:30.920 --> 0:08:33.680 Eyo University classes is that different from the podcast where 0:08:33.679 --> 0:08:37.080 it's it's interactive. So a teacher or a presenter comes 0:08:37.120 --> 0:08:41.119 on and they give like a twenty minute PowerPoint presentation 0:08:41.200 --> 0:08:44.040 on it on a different topics, and then members from 0:08:44.080 --> 0:08:46.920 Eyo University then they engage with them, they ask questions 0:08:46.960 --> 0:08:49.079 and it's like an interactive it's a new way of learning. 0:08:49.120 --> 0:08:51.880 So what we did with Eyo University, we think is 0:08:52.280 --> 0:08:55.160 really create a personal finance school bigger than just investing 0:08:55.160 --> 0:08:56.959 because it's like you could just watch market Mondays just 0:08:57.000 --> 0:08:59.880 for investment tips. But Eyo University is a whole personal 0:09:00.280 --> 0:09:02.160 in school. So like this month, the classes that we 0:09:02.240 --> 0:09:06.120 had was disability insurance. We had how to start a 0:09:06.120 --> 0:09:09.440 marijuana company with two thousand dollars, and we had car 0:09:09.520 --> 0:09:13.040 buying class. And then next next Wednesday, we have the 0:09:13.080 --> 0:09:15.880 class about Africa real estate, how to invest in Ghana 0:09:15.960 --> 0:09:17.920 real estate, International real estate. So we got a lot 0:09:17.920 --> 0:09:20.240 of international people and we want to start doing more 0:09:20.240 --> 0:09:23.319 international stuff. But even if you live in America, Ghana's 0:09:23.360 --> 0:09:25.520 on fire right now. So each and every week we do, 0:09:25.600 --> 0:09:26.560 we do a different class. 0:09:26.600 --> 0:09:29.080 November we got some heat coming. Yeah, we got some heat. 0:09:29.160 --> 0:09:30.800 And then in addition to that, we got the book 0:09:30.800 --> 0:09:32.600 and movie club headed up by you. 0:09:32.920 --> 0:09:33.360 Yeah yeah. 0:09:33.480 --> 0:09:35.120 Right now we're doing a money Master of the Game 0:09:35.160 --> 0:09:37.719 and that's been going crazy every week. I mean, I 0:09:37.720 --> 0:09:39.160 think we hit a record last week. We had like 0:09:39.240 --> 0:09:41.000 almost four hundred people in our book club. It was 0:09:41.120 --> 0:09:43.440 absolutely amazing. It's more than a book club. It becomes 0:09:43.480 --> 0:09:46.599 like this therapeutic session on finance and real estate, and 0:09:46.640 --> 0:09:50.840 then it becomes like yo, I found my partners. Inside 0:09:50.840 --> 0:09:53.560 of that, we have what we call triads, which is 0:09:53.559 --> 0:09:56.559 like three people that are finding the ways that they 0:09:56.600 --> 0:09:59.680 have in common and becoming accountability. 0:09:59.080 --> 0:09:59.880 Partners for each other. 0:10:00.440 --> 0:10:02.120 So it's like, yo, that could be my business part 0:10:02.240 --> 0:10:03.840 or it could just be somebody that's pushing me to 0:10:04.000 --> 0:10:05.280 find my goals or reach my goals. 0:10:05.320 --> 0:10:07.840 And what we've noticed is like, this is dope. 0:10:07.920 --> 0:10:10.120 It's like sometimes you tell the person close to you 0:10:10.120 --> 0:10:12.120 your goals and they don't believe in you. But when 0:10:12.160 --> 0:10:13.760 you tell a stranger of your goals, all they know 0:10:13.880 --> 0:10:15.640 is your goals. They don't know anything about you but 0:10:15.960 --> 0:10:17.440 the goal, and they try to help you reach And 0:10:17.480 --> 0:10:19.240 I think that's one of the beautiful things that we 0:10:19.280 --> 0:10:21.720 find inside of our accountability triad. 0:10:21.760 --> 0:10:22.280 So it's dope. 0:10:22.400 --> 0:10:24.520 Yeah, So we got that. Then we got the private 0:10:24.559 --> 0:10:26.679 Facebook group, which is an investment group, and that's a 0:10:26.720 --> 0:10:30.240 community within itself, over four thousand members in there. And 0:10:30.280 --> 0:10:33.640 then we have bi weekly real estate calls Jail Mortgage 0:10:33.679 --> 0:10:37.199 God every other Sunday, MG he gets on it. It's 0:10:37.240 --> 0:10:39.880 just like a two hour, three hours, sometimes even four hours, 0:10:39.960 --> 0:10:42.079 just real estate call and they just talk about a 0:10:42.160 --> 0:10:44.000 variety of different real estate calls. And then once a 0:10:44.040 --> 0:10:46.760 month I do financial planning calls. Everybody knows I'm a 0:10:46.760 --> 0:10:48.520 financial advisor, and what happened is that I put my 0:10:48.559 --> 0:10:50.960 schedule up and it just became too much. It became 0:10:51.000 --> 0:10:53.760 overwhelming for me to actually take calls. So I limited 0:10:53.840 --> 0:10:55.360 that and I realized that a lot of people had 0:10:55.360 --> 0:10:57.800 the same question. So every single month, sit down for 0:10:57.800 --> 0:11:01.240 about two hours on a Saturday and we talk about 0:11:01.280 --> 0:11:04.520 financial planning and go over different stuff life, insurance, retirement, 0:11:05.320 --> 0:11:08.480 you know, just different financial planning topics, so all of that, 0:11:08.600 --> 0:11:10.400 and then we have orientation orientation. 0:11:10.520 --> 0:11:10.720 Yeah. 0:11:10.760 --> 0:11:13.600 Yeah, so every month now that we get new earners 0:11:13.600 --> 0:11:15.400 coming in and we're treating it like the school, right 0:11:15.400 --> 0:11:18.959 eyl University, we have orientation. So some people get they 0:11:18.960 --> 0:11:21.480 come into and they're just like overwhelmed by the information because, 0:11:21.520 --> 0:11:23.800 like I said, we're not just capping when we're telling you, like, 0:11:23.800 --> 0:11:26.160 there's a lot of courses, a lot of content. So 0:11:26.200 --> 0:11:28.360 we have an orientation that can help you and guide 0:11:28.400 --> 0:11:30.840 you through that process, walk you through it, find a 0:11:30.920 --> 0:11:32.840 track for you, right because some people may say, like 0:11:32.840 --> 0:11:35.200 real estate is not my thing, Well we got over 0:11:35.240 --> 0:11:37.400 seventy courses, what is your thing? And so you find 0:11:37.400 --> 0:11:39.280 the track and you follow it and that's kind of 0:11:39.280 --> 0:11:41.880 what makes it dope about having accountability partners and trias 0:11:41.960 --> 0:11:43.720 is that you're going to find people who are on 0:11:43.800 --> 0:11:46.840 similar tracks. So everybody's pushing forward in the same direction, 0:11:46.880 --> 0:11:47.959 whatever direction you choose. 0:11:48.040 --> 0:11:50.000 Yeah, that's a fact. So yeah, so I say, I 0:11:50.000 --> 0:11:51.640 have to say, this is like open house. Once a 0:11:51.640 --> 0:11:55.040 month we do this open house situation, and it's a lot. 0:11:55.120 --> 0:11:58.559 It's a lot. So the reason why, like the price 0:11:58.640 --> 0:12:00.800 keeps going on and it's still undervalue. It's three hundred 0:12:00.800 --> 0:12:03.240 and sixty dollars for the entire year, but we're adding 0:12:03.320 --> 0:12:06.080 to it, so it's an ongoing thing. So as we 0:12:06.120 --> 0:12:08.400 add to it, we have different overhead, we have staff, now, 0:12:08.400 --> 0:12:11.320 we have different you know. So this we have we're 0:12:11.360 --> 0:12:14.160 running a promo code forty percent off for the whole 0:12:14.280 --> 0:12:17.440 entire year annual membership and three hundred and sixty dollars, 0:12:17.480 --> 0:12:19.000 which is, like I said, that's like a night in 0:12:19.040 --> 0:12:23.280 Atlanta for twenty four hours, twenty four hours from right 0:12:23.320 --> 0:12:25.839 now twenty four hours, and then after that you can 0:12:25.840 --> 0:12:29.079 still join. It's just you know, slightly higher membership. It's 0:12:29.080 --> 0:12:31.160 like a stock once you get in. Some people got 0:12:31.120 --> 0:12:33.160 it are ninety nine dollars and it's only going up 0:12:33.160 --> 0:12:35.000 from there because it's just added value. We're gonna make 0:12:35.000 --> 0:12:38.120 this bigger than Phoenix University. This is going to be 0:12:38.120 --> 0:12:41.160 the biggest online university in existence. So I'm gonna put 0:12:41.160 --> 0:12:43.360 the link in and it's only for the link. Can 0:12:43.400 --> 0:12:45.000 we try to make this as easy as possible. There's 0:12:45.040 --> 0:12:47.079 no code or anything, it's just the link. The link. 0:12:47.080 --> 0:12:49.320 I'm gonna pin the link in YouTube. It's in the 0:12:49.360 --> 0:12:52.560 description if you want to join forty percent off twenty 0:12:52.600 --> 0:12:55.680 four hours. So Chris, let's get into it, all. 0:12:55.640 --> 0:12:58.680 Right, let's go. Let's go. Let me see. I'm share 0:12:58.800 --> 0:12:59.320 my screen. 0:13:01.160 --> 0:13:03.120 Does he have to do something to share it or no? 0:13:03.240 --> 0:13:06.320 He's now okay, Yeah, I got it. 0:13:07.280 --> 0:13:08.880 Yeah. Chris is a tech guy, so I know he. 0:13:08.880 --> 0:13:13.120 Knows engineer in his own right. 0:13:13.360 --> 0:13:16.720 Chris is okay, let's see. 0:13:17.000 --> 0:13:18.000 Yeah, we see you over here. 0:13:18.520 --> 0:13:20.640 Okay, let me make sure it's not let me see 0:13:20.800 --> 0:13:21.840 slash over from the beginning. 0:13:21.840 --> 0:13:25.920 There we go, all right, So how to buy the block? 0:13:26.760 --> 0:13:29.000 I appreciate the opportunity guys, for y'all to have me 0:13:29.040 --> 0:13:32.079 on today. This This topic is very near and dear 0:13:32.080 --> 0:13:34.000 to me because I've been an investor since two thousand 0:13:34.000 --> 0:13:37.079 and eight, I did the typical fix and flip model 0:13:37.120 --> 0:13:39.920 at the wholesale model, and what I realized was that, man, 0:13:39.960 --> 0:13:44.480 sometimes it's such a capitalistic business and you're trained by 0:13:44.480 --> 0:13:47.360 other capitalists that don't have the same background as you, 0:13:47.679 --> 0:13:49.600 that they'll train you do some things that actually come 0:13:49.720 --> 0:13:53.199 sometimes can't hurt the community, or they'll they'll teach you 0:13:53.240 --> 0:13:55.000 how to make money in the community, but not actually 0:13:55.000 --> 0:13:58.600 own the community long term. And so for me, I 0:13:58.640 --> 0:14:00.760 just had an AHA moment one day and I had epiphany. 0:14:00.760 --> 0:14:01.760 I was like, well, you. 0:14:01.720 --> 0:14:03.880 Know, we're always talking about these things that happened in 0:14:03.880 --> 0:14:05.880 our neighborhoods, and I know other people that look like 0:14:05.960 --> 0:14:08.520 me that are investors, but nobody is really talking about 0:14:08.559 --> 0:14:11.720 how to tackle this challenge, this gentrification issue. 0:14:12.120 --> 0:14:13.960 How do we start controlling these neighborhoods again. 0:14:14.480 --> 0:14:17.360 So that's been my mission since about twenty twelve, in 0:14:17.360 --> 0:14:19.280 twenty thirteen, when I bought that first block that you 0:14:19.280 --> 0:14:22.840 talked about. So let's just start with the definition of gentrification, 0:14:23.280 --> 0:14:25.600 the process by which a part of a city changes 0:14:25.640 --> 0:14:28.440 from being a poorer area to a richer one and 0:14:28.520 --> 0:14:32.360 people from a higher social class are beginning to move in. 0:14:33.360 --> 0:14:36.160 Usually if no one advocates for the poorer residents, they 0:14:36.280 --> 0:14:37.080 become displaced. 0:14:37.800 --> 0:14:40.080 So let's get this out the way. 0:14:40.280 --> 0:14:41.760 I saw the posts that y'all made earlier, and I 0:14:41.800 --> 0:14:44.360 saw the comments under the post, and it's like, man, 0:14:44.680 --> 0:14:48.280 we all know the problems. We all know about slavery, 0:14:48.280 --> 0:14:51.000 we all know about red lining, we all know about 0:14:51.040 --> 0:14:53.680 all the other injustices that we have. At some point 0:14:53.720 --> 0:14:56.360 we got to start focusing on the solutions to these problems. 0:14:56.360 --> 0:14:59.840 And it's okay to regurgitate them, and it's okay to 0:14:59.840 --> 0:15:02.600 be debater, it's okay to be a historian, but what 0:15:02.720 --> 0:15:05.640 about the future? Like and this quote by Will Smith 0:15:05.680 --> 0:15:07.840 when he first got on Instagram always resonates with me. 0:15:07.920 --> 0:15:10.040 It's like, it may not be your fault that something 0:15:10.080 --> 0:15:12.480 happened to you, but it's damn sure your responsibility to 0:15:12.520 --> 0:15:12.960 fix it. 0:15:13.360 --> 0:15:15.480 And so that's exactly where I am. 0:15:16.000 --> 0:15:21.240 So my mission changing their gentrification through redevelopment that balances 0:15:21.280 --> 0:15:24.800 the opportunity to attract higher income people originally from similar 0:15:24.800 --> 0:15:29.800 communities out of the suburbs while ensuring existing residents are 0:15:29.800 --> 0:15:33.720 not displaced in the process. So let's talk about revitalization 0:15:33.760 --> 0:15:38.640 and plus gentrification always a debate. Okay, so everything has 0:15:38.680 --> 0:15:41.760 a life cycle, including a neighborhood. It has a life cycle, guys. 0:15:42.600 --> 0:15:45.280 So everything has to start over at some point or 0:15:45.320 --> 0:15:46.320 either it's just gonna die. 0:15:46.640 --> 0:15:49.440 You know. We can't just let everything. 0:15:49.120 --> 0:15:52.240 Stay where it is, So we either revitalize and have 0:15:52.640 --> 0:15:56.920 community controlled narrative or we stand back and let somebody 0:15:56.960 --> 0:15:59.320 else do it from the sideline, right. And then that's 0:15:59.640 --> 0:16:02.240 control specifically by outside groups that want profit, and that's 0:16:02.240 --> 0:16:05.960 what we usually associate with the term gentrification with. So 0:16:06.080 --> 0:16:07.960 then you know, like I said, I was doing this 0:16:08.000 --> 0:16:11.120 back in twenty and thirteen, twenty fourteen, but this trendy phrase 0:16:11.200 --> 0:16:13.520 came up, you know, about two years ago, called buying 0:16:13.520 --> 0:16:14.960 the block, and I'm like, okay, wait a minute, I 0:16:14.960 --> 0:16:16.600 guess I guess that does define what I'm doing. 0:16:17.080 --> 0:16:19.600 So we are we are trying to acquire and. 0:16:19.640 --> 0:16:24.080 Control the redevelopment of real estate in our historic neighborhoods. 0:16:26.280 --> 0:16:28.480 So let's talk again about the problems we all know 0:16:28.520 --> 0:16:30.720 about and the history that we don't think to mention. 0:16:30.840 --> 0:16:35.120 Sometimes all these neighborhoods are disadvantaged for the most part, 0:16:35.440 --> 0:16:39.680 but they once thrived with people from all economic classes. 0:16:39.720 --> 0:16:41.920 And what do I mean by that, well, before. 0:16:41.640 --> 0:16:46.440 Desegregation, all of those vacant rundown commercial buildings you see 0:16:46.480 --> 0:16:50.480 in these poor neighborhoods used to be vibrant businesses. The doctors, 0:16:50.520 --> 0:16:55.840 the lawyers, the carpenters, the movie theaters, the restaurants. Everything 0:16:55.840 --> 0:16:57.520 that we did not have the rights to patronize in 0:16:57.560 --> 0:17:01.520 another community was in these communities, and we patronized all 0:17:01.560 --> 0:17:02.120 of those things. 0:17:02.160 --> 0:17:02.920 So let's not think. 0:17:02.800 --> 0:17:09.159 About it as always been a horrible place to be. 0:17:09.480 --> 0:17:13.000 At one point in time, it thrived. Here's another thing 0:17:13.040 --> 0:17:15.760 to look at. Businesses like grocery stores are scarce in 0:17:15.800 --> 0:17:20.440 our communities, but when these neighborhoods thrived during that same timeframe, 0:17:20.880 --> 0:17:23.440 the businesses were actually owned by the people in the community, 0:17:23.480 --> 0:17:27.080 and they were sustainable. So if it happened before, it 0:17:27.119 --> 0:17:31.960 can happen again. So my goal has been, how do 0:17:32.000 --> 0:17:33.680 we go in these neighborhoods. How do we buy the 0:17:33.720 --> 0:17:37.479 block and do it without displacing existing residents. So it 0:17:37.480 --> 0:17:39.080 took me about two or three years to really come 0:17:39.160 --> 0:17:40.320 up with a model. 0:17:40.000 --> 0:17:40.720 That would work. 0:17:41.200 --> 0:17:43.120 I bought the property in twenty thirteen, but I really 0:17:43.160 --> 0:17:45.600 didn't know what I was going to do with it, 0:17:45.680 --> 0:17:48.880 and you know, eventually I came in and I put 0:17:48.880 --> 0:17:51.159 these key pieces together so we can go in the 0:17:51.200 --> 0:17:53.600 communities that we can invest in the vacant property, in 0:17:53.680 --> 0:17:58.840 the abandoned property, and the neglected property, the drug houses, 0:17:59.320 --> 0:18:02.800 the houses that that attract criminal activity. Right, not going 0:18:02.800 --> 0:18:05.600 on knocking on doors asking the seniors to sell their house, 0:18:06.080 --> 0:18:07.840 not taking advantage of people that are, you know, in 0:18:08.680 --> 0:18:12.679 desperate financial situations. Let's focus on these properties in the 0:18:12.680 --> 0:18:14.280 first bullet, number one, number two. 0:18:15.000 --> 0:18:16.520 Try to keep rental rates affordable. 0:18:16.520 --> 0:18:18.120 If you're going to go in the community and buy 0:18:18.160 --> 0:18:21.880 rental properties, okay that what that means is sometimes you're 0:18:21.920 --> 0:18:23.879 taught go in and renovate it and make it as 0:18:23.960 --> 0:18:26.000 nice as possible, which means your investment has to be 0:18:26.119 --> 0:18:27.720 larger on the front end. 0:18:27.840 --> 0:18:30.040 In exchange, you have to demand more for the rent. 0:18:30.440 --> 0:18:33.720 Right, But if you can buy a rental property that's 0:18:33.760 --> 0:18:36.240 in decent condition and the tenant is happy with the 0:18:36.240 --> 0:18:38.480 way it is, you don't have to invest so much 0:18:38.520 --> 0:18:40.840 on the front end. You can still structure a deal 0:18:40.840 --> 0:18:43.560 where you get a good return if you're a good negotiator, 0:18:43.600 --> 0:18:44.400 where you buy it at. 0:18:44.280 --> 0:18:46.880 The right price so then the person can stay right there. 0:18:46.880 --> 0:18:47.480 Where they are. 0:18:48.600 --> 0:18:50.879 The third component is one of the hardest components. How 0:18:50.920 --> 0:18:54.680 do we prevent home ownership loss due to higher taxes. 0:18:54.800 --> 0:18:56.520 That's going to be more of a political play where 0:18:56.520 --> 0:18:59.760 we have to get with politicians that do this and 0:18:59.800 --> 0:19:02.480 other It's already implemented in some cities where if you've 0:19:02.480 --> 0:19:04.440 owned your home for longer than a certain amount of time, 0:19:04.800 --> 0:19:08.520 you're exempt from property tax increases. And you know, so 0:19:08.560 --> 0:19:10.359 that needs to be something that we need to focus 0:19:10.400 --> 0:19:12.639 on in these communities to make this by the block 0:19:12.720 --> 0:19:17.720 model really work without being a detriment to the community. Okay, 0:19:17.760 --> 0:19:20.679 So when is the right time to buy in these neighborhoods. Okay, 0:19:20.960 --> 0:19:23.280 here's a couple of key points. I'm not talking about 0:19:23.280 --> 0:19:27.040 a war zone. I'm not talking about anywhere still is 0:19:27.080 --> 0:19:30.600 super hood, you know. We are talking about areas in 0:19:30.640 --> 0:19:36.040 the communities where there's already some sign of something positive happening. Okay, 0:19:36.760 --> 0:19:40.399 and just remember, even if you see an abandoned community 0:19:40.400 --> 0:19:42.320 that looks like it has a lot of potential. 0:19:42.320 --> 0:19:44.040 Bullet number two is very important. 0:19:44.640 --> 0:19:49.040 It's harder for you to spark this revitalization and get 0:19:49.040 --> 0:19:51.480 a return on investment if you are the only catalyst 0:19:51.920 --> 0:19:54.200 you have to go in the communities where there's already 0:19:54.200 --> 0:19:56.240 something kind of going on and we still have an 0:19:56.280 --> 0:19:57.720 opportunity to step in front of it. 0:19:58.119 --> 0:19:58.720 And instead of. 0:19:58.640 --> 0:20:02.200 Trying to stop, know, the redevelopment and calling it gentrification, 0:20:02.280 --> 0:20:05.360 let's participate in it. Let's control the narrative. Let's control 0:20:05.480 --> 0:20:08.000 parts of everything that's going on in the community. Okay, 0:20:09.119 --> 0:20:10.720 So things you want to look for when you see 0:20:10.720 --> 0:20:14.520 announcements of projects in the newspaper, on the news, city 0:20:14.560 --> 0:20:17.960 council meetings, from other people that are in real estate 0:20:18.000 --> 0:20:21.639 that you know, people that are networking with developers or builders, 0:20:22.200 --> 0:20:25.560 people you know in your community that are investors. You 0:20:25.600 --> 0:20:28.480 know when you hear these types of announcements, and that 0:20:29.160 --> 0:20:32.159 lets you know something is coming. You know, the second 0:20:33.000 --> 0:20:35.480 Burger King figures out where McDonald's put a land purchase 0:20:35.520 --> 0:20:37.199 contract in, they're going to try to buy land right 0:20:37.240 --> 0:20:39.720 next to them, right same thing with Walgerys and Cvs. 0:20:39.960 --> 0:20:42.800 So as the smaller guys in this play, as we're 0:20:42.800 --> 0:20:45.679 trying to independently control and buy back these blocks, we 0:20:45.720 --> 0:20:48.800 need to be following the big boys. You know it's 0:20:48.800 --> 0:20:50.680 gonna happen. We can't fight them, we can't stop them. 0:20:50.800 --> 0:20:53.760 So we might as well participate. Another good thing to 0:20:53.760 --> 0:20:55.040 look at is a city activity. 0:20:55.560 --> 0:20:57.600 Uh when when when when a. 0:20:57.440 --> 0:21:01.240 City activity picks up in a neighborhood On the private 0:21:01.359 --> 0:21:04.000 real estate side, Okay, when a particular neighborhood where you 0:21:04.000 --> 0:21:06.160 didn't see a new construction before, now you start seeing 0:21:06.160 --> 0:21:09.080 for sale signs and you see active construction work going on, 0:21:09.480 --> 0:21:11.280 that's probably a good community, especially if it's. 0:21:11.119 --> 0:21:12.000 One of our communities. 0:21:12.960 --> 0:21:14.440 That's a good time for you to start saying, Okay, 0:21:14.440 --> 0:21:15.720 this might be a neighborhood that I might want to 0:21:15.720 --> 0:21:17.960 look at, trying to buy a block with okay, and 0:21:18.000 --> 0:21:21.240 then the city initiatives to spark redevelopment. That's on the 0:21:21.240 --> 0:21:23.920 public side. So when you see the city going into 0:21:24.000 --> 0:21:27.520 community and they're repaving streets and they're putting in sidewalks, 0:21:27.680 --> 0:21:30.680 and they're updating signs, and they're putting in bike paths, 0:21:30.920 --> 0:21:32.840 they're doing all of that because that's kind of the 0:21:32.840 --> 0:21:37.240 extent that the public the government can do to entice developers. 0:21:37.240 --> 0:21:39.600 They want developers to see this and investors to see 0:21:39.640 --> 0:21:41.440 this and say, Okay, this is a neighborhood I want 0:21:41.440 --> 0:21:44.200 to be in. So if you look for these signs 0:21:44.240 --> 0:21:46.639 before all the houses have gone up and before everything 0:21:46.680 --> 0:21:49.680 looks nice. These are neighborhoods that we should be trying 0:21:49.680 --> 0:21:53.479 to buy the block in, especially if they're communities. So 0:21:53.520 --> 0:21:56.160 how do we successfully execute buying back to block? 0:21:56.800 --> 0:21:57.200 Okay? 0:21:57.359 --> 0:22:01.600 So number one, when it comes to buying blocks, if 0:22:01.600 --> 0:22:05.080 you're gonna do something bigger than individual houses, you don't 0:22:05.119 --> 0:22:06.800 want to get a big plan together. 0:22:06.880 --> 0:22:08.719 You don't want to spin your wheels on things if 0:22:08.760 --> 0:22:10.120 you do not have site control. 0:22:10.960 --> 0:22:13.359 Site control is the single most important part of that process, 0:22:13.400 --> 0:22:16.600 because what happens is you put this tremendous plan together 0:22:16.920 --> 0:22:18.879 and either the seller decide they don't want to sell, 0:22:20.040 --> 0:22:22.439 or you don't have all of the properties together that 0:22:22.520 --> 0:22:27.280 you need for the project, or they get wind of 0:22:27.320 --> 0:22:30.800 something else and they increase their price on you, and 0:22:30.840 --> 0:22:33.040 so all of these factors will end up with you 0:22:33.119 --> 0:22:35.000 doing all this work, all this planning, and then you 0:22:35.040 --> 0:22:36.760 have no property to actually use it for. So all 0:22:36.760 --> 0:22:39.400 that time and money is wasted. Right, So there's several 0:22:39.400 --> 0:22:41.920 ways you get site control. Number one, just make sure 0:22:41.960 --> 0:22:44.800 you have the property under a solid contract at a 0:22:45.000 --> 0:22:48.280 set purchase price with a certain timeframe on it. Okay, 0:22:48.600 --> 0:22:51.560 that way, if it's one piece of property that you 0:22:51.560 --> 0:22:53.800 need for this entire project, then you know you have 0:22:53.880 --> 0:22:57.680 control of that. Number two is kind of, you know, obvious, 0:22:58.160 --> 0:23:01.680 outright purchase, but that's not practical in most situations. Just 0:23:01.880 --> 0:23:03.560 going out and buying a whole block and paying for 0:23:03.720 --> 0:23:07.639 cash is not really practical. And then the third one 0:23:07.920 --> 0:23:10.879 is an option to purchase. So if you have a 0:23:10.920 --> 0:23:13.800 project that you want to that you want to take on, 0:23:14.520 --> 0:23:16.920 and let's say it's five or six different owners, seven 0:23:16.960 --> 0:23:18.680 different owners, and you don't know if all of them 0:23:18.720 --> 0:23:21.440 are gonna want to sell, You don't know if their 0:23:21.440 --> 0:23:23.000 price points are going to be reasonable if they do 0:23:23.040 --> 0:23:25.440 want to sell, what you want to do is execute 0:23:25.520 --> 0:23:27.480 options to purchase. And what that is is you go 0:23:27.760 --> 0:23:30.880 from owner to owner and you say, hey, mister owner, 0:23:31.240 --> 0:23:33.520 let's negotiate. Let's come to a price that we both 0:23:33.560 --> 0:23:37.680 agree on. I'm not buying your property today, but if 0:23:37.680 --> 0:23:39.880 you give me a year, you give me two years, 0:23:41.080 --> 0:23:43.480 and I can pull this thing together that I'm trying 0:23:43.520 --> 0:23:43.760 to do. 0:23:44.400 --> 0:23:46.680 You have to allow me to buy your property at 0:23:46.720 --> 0:23:47.280 this price. 0:23:47.520 --> 0:23:47.879 Okay. 0:23:48.200 --> 0:23:50.760 In exchange for that, I'm gonna give you this money. 0:23:50.840 --> 0:23:52.640 Could be one thousand dollars, could be five hundred dollars. 0:23:52.640 --> 0:23:52.920 Whatever. 0:23:53.240 --> 0:23:55.480 Hey, if you never hear from them again, this is 0:23:55.520 --> 0:23:57.840 your thousand dollars, you know. But if I come back 0:23:57.840 --> 0:24:02.240 to you and I'm ready to buy, then we have 0:24:02.320 --> 0:24:05.359 to follow through on this contract. And so that allows 0:24:05.400 --> 0:24:08.520 you to control each individual partial until you get them 0:24:08.560 --> 0:24:12.000 all together for the project that you're trying to do. Okay, 0:24:12.359 --> 0:24:15.639 next most important step is planning and design, because you 0:24:15.720 --> 0:24:18.320 have to really understand what's going to take to pull 0:24:18.359 --> 0:24:20.960 this concept off that you're trying to implement. Now, if 0:24:21.000 --> 0:24:23.560 you're buying, if you're trying to buy more than one 0:24:23.560 --> 0:24:26.000 property in their rental properties, like I said earlier, and 0:24:26.040 --> 0:24:28.920 there's already tenants there, then you know this process is 0:24:28.960 --> 0:24:31.080 going to be a lot easier for you because you 0:24:31.160 --> 0:24:32.879 don't have a lot of work to do on the 0:24:32.880 --> 0:24:36.040 front end, right, You don't have a lot of expenses 0:24:36.359 --> 0:24:39.200 that in the real estate development world is called soft costs. 0:24:39.280 --> 0:24:42.280 These are things that are intangible, like once you spend 0:24:42.320 --> 0:24:44.440 the money, the money's gone. Once you pay an architect 0:24:44.480 --> 0:24:47.080 for design work, whether the project gets started or not, 0:24:47.560 --> 0:24:52.800 that's gone, right, The permitting fees, paying for engineers, all 0:24:52.840 --> 0:24:56.439 that kind of stuff. Construction, of course, construction is going 0:24:56.480 --> 0:24:58.040 to be one of your biggest expenses, because you want 0:24:58.040 --> 0:25:00.960 to make sure that while you have psyche cont you 0:25:01.080 --> 0:25:03.600 really understand what the cost of this entire project is 0:25:03.600 --> 0:25:06.439 going to be. And then you want to make sure 0:25:07.080 --> 0:25:10.359 that planning and zoning and city ordinance or whatever in 0:25:10.400 --> 0:25:14.800 your area and just the general city permit approvals are 0:25:14.880 --> 0:25:17.760 in place for you to be able to execute your project. 0:25:18.280 --> 0:25:20.840 And most importantly all of this is really that all 0:25:20.880 --> 0:25:24.000 of that comprises feasibility of rather. 0:25:24.200 --> 0:25:26.119 Buying this block and doing whatever you plan to do 0:25:26.160 --> 0:25:28.439 with it really makes sense. Okay. 0:25:28.800 --> 0:25:31.760 Now, so after you get site control and you've got 0:25:31.760 --> 0:25:33.719 a good plan together, then you have to figure out 0:25:33.720 --> 0:25:35.720 how you're actually going to take down the project and 0:25:35.760 --> 0:25:38.760 how you're going to start the project. So my number 0:25:38.840 --> 0:25:41.320 one go to is what's been working for me in 0:25:41.359 --> 0:25:45.159 Houston is seller financing. If I would have waited in 0:25:45.160 --> 0:25:47.760 twenty thirteen for a bank to tell me that I 0:25:47.880 --> 0:25:51.800 was bankable to buy a whole block, and I was 0:25:51.800 --> 0:25:53.920 waiting for a bank to tell me that a block 0:25:53.960 --> 0:25:56.840 in the hood was worth a certain amount of money 0:25:56.920 --> 0:25:59.760 when there was no recent sales and it was full 0:25:59.760 --> 0:26:02.880 of and drug infestation, you know, I would have never 0:26:02.920 --> 0:26:05.439 got that product off the ground. So, but what happens 0:26:05.440 --> 0:26:08.560 when you go to somebody that owns the property outright? Okay, 0:26:08.680 --> 0:26:11.000 that means it's probably been in their family longer than 0:26:11.040 --> 0:26:14.240 thirty years, or maybe passed down from generation to generation, 0:26:14.960 --> 0:26:18.120 and they have the right, the free and clear right 0:26:18.240 --> 0:26:19.800 to do whatever they want the property. 0:26:20.080 --> 0:26:21.520 You can negotiate with them. 0:26:22.000 --> 0:26:24.480 And so for one of my properties, I'm gonna show 0:26:24.480 --> 0:26:26.320 you in a case study. One of them, I negotiate 0:26:26.320 --> 0:26:28.359 ten percent down to buy a whole block. The second 0:26:28.400 --> 0:26:29.680 one I had to come to the table with fifty 0:26:29.720 --> 0:26:32.439 percent of the agreed upon purchase price. But then you 0:26:32.480 --> 0:26:35.520 make payments to them instead of making payments to a bank, 0:26:36.040 --> 0:26:38.000 and they're not gonna check your credit score, they're not 0:26:38.000 --> 0:26:39.800 gonna do a background check, they're not going to ask 0:26:39.840 --> 0:26:43.560 you about other things. Because when sellers finance something directly 0:26:43.600 --> 0:26:45.520 to you, they know that if you default, they can 0:26:45.600 --> 0:26:47.240 just take the property back and they can start the 0:26:47.280 --> 0:26:48.639 process over do the same thing again. 0:26:49.119 --> 0:26:49.359 Right. 0:26:49.720 --> 0:26:51.920 So that's a trick, Well, that's not really a trick. 0:26:52.000 --> 0:26:54.120 That's a technique that we need to implement more often 0:26:54.160 --> 0:26:55.640 when we're trying to get in our communities and do. 0:26:55.600 --> 0:26:57.760 These things so something else. 0:26:57.760 --> 0:26:59.639 If they don't agree to that, or if they do 0:26:59.680 --> 0:27:01.320 agree to that, but you don't have enough money for 0:27:01.359 --> 0:27:04.200 the down payment, start off with a small group of investors. 0:27:04.840 --> 0:27:07.480 Maybe I would always suggest you have somebody. 0:27:07.160 --> 0:27:12.000 On your team that's experienced with investing, and you know, 0:27:12.040 --> 0:27:13.720 have them come on a team and help you through 0:27:13.760 --> 0:27:14.280 the process. 0:27:15.920 --> 0:27:18.320 I highly, I highly. 0:27:18.040 --> 0:27:20.439 Suggest you don't do it if you're all newbies and 0:27:20.480 --> 0:27:22.800 you have nobody on the team, because what may seem 0:27:22.840 --> 0:27:24.320 like a good deal may not be a good deal. 0:27:25.000 --> 0:27:26.760 And then third is crowdfunding. 0:27:27.040 --> 0:27:28.800 Crowdfunding is what I did for one of my projects, 0:27:28.840 --> 0:27:30.840 but I didn't do a crowdfund until I had been 0:27:30.840 --> 0:27:33.080 in real estate investing for almost thirteen years. 0:27:33.240 --> 0:27:35.520 Okay, so a lot of people ask about it. 0:27:35.560 --> 0:27:38.359 But when you take other people's money, you know, and 0:27:38.800 --> 0:27:41.920 you and you were trying to complete a project, all 0:27:41.920 --> 0:27:44.119 those bullet points before that got to be spot on 0:27:44.240 --> 0:27:46.680 because people are not giving you donations, they are giving 0:27:46.720 --> 0:27:50.199 you money, and they are expecting their money back and 0:27:50.240 --> 0:27:53.879 they're respecting a profit on top of that. So you know, 0:27:53.920 --> 0:27:55.480 you got to be really careful when you get in 0:27:55.600 --> 0:27:58.520 that round. And most importantly of all these things is 0:27:58.560 --> 0:28:01.399 the right team. You can have the right plan, you 0:28:01.440 --> 0:28:04.439 can have all every every box checked, but if you 0:28:04.480 --> 0:28:06.920 don't have the right team to execute on buying back 0:28:06.920 --> 0:28:10.119 the block, it would be very hard for you to 0:28:10.119 --> 0:28:14.639 be successful. Now, the most important key is that we 0:28:14.720 --> 0:28:15.640 all have to participate. 0:28:15.680 --> 0:28:16.720 And this is what I mean by that. 0:28:17.680 --> 0:28:20.520 The investors need to be participating this. Okay, we need 0:28:20.560 --> 0:28:22.800 to be actively looking to buy in our communities. 0:28:23.160 --> 0:28:24.679 Okay, if you're a. 0:28:24.760 --> 0:28:27.560 Landlord, maybe you don't want to actually live in the community, 0:28:27.600 --> 0:28:30.320 but you have rental properties. You should be trying to 0:28:30.359 --> 0:28:34.280 control rental properties in these same neighborhoods. And you can 0:28:34.440 --> 0:28:38.000 maybe maybe one investor has bought the block and renovated 0:28:38.040 --> 0:28:40.840 the block, and now they're selling the homes to other people. Well, 0:28:40.880 --> 0:28:43.520 you as an investor should come in and buy some 0:28:43.560 --> 0:28:46.720 of the properties from that developer so that the ownership 0:28:46.760 --> 0:28:48.240 transfers from us to us. 0:28:48.600 --> 0:28:48.800 Right. 0:28:49.000 --> 0:28:51.960 And then you, as someone who looks like the community, 0:28:52.480 --> 0:28:54.360 should be looking out for people in the community and 0:28:54.440 --> 0:28:56.840 have a vested interest in not being a slumlord and 0:28:56.880 --> 0:28:59.320 taking care of the community. Of course, realtors play an 0:28:59.320 --> 0:29:02.640 integral part of it. Why because when you have buyers, 0:29:02.680 --> 0:29:06.320 when you have investors, when you have renters, you should 0:29:06.320 --> 0:29:10.280 be telling them about all of the investors, landlords, developers, builders, 0:29:10.320 --> 0:29:13.480 you know in the community, and trying to steer them 0:29:13.480 --> 0:29:17.400 to these neighborhoods. First, once again, I'm not talking about 0:29:17.400 --> 0:29:21.520 war zones, okay, I'm talking about areas that there's already 0:29:21.640 --> 0:29:23.000 some sign of revitalization. 0:29:23.440 --> 0:29:27.000 And lastly, and most importantly, the regular buyers. 0:29:27.040 --> 0:29:29.280 Like for my development that I'm show you in the 0:29:29.320 --> 0:29:33.920 second all my buyers look like us, young working professionals. 0:29:33.520 --> 0:29:37.680 It's not as bad. It's not the hood that sometimes 0:29:37.800 --> 0:29:40.600 people say it is. You have to be very aware 0:29:40.600 --> 0:29:43.680 of what outside narratives are versus what's really there. So, 0:29:43.800 --> 0:29:46.520 as a buyer, if you're in a community and some 0:29:46.600 --> 0:29:49.200 of those other signs have already talked about are happening, 0:29:49.240 --> 0:29:51.520 if you see redevelopments starting, if you see a lot 0:29:51.560 --> 0:29:53.840 of activity in the community, if you see the city 0:29:53.880 --> 0:29:56.720 putting things in, guess what, that city's already got that 0:29:56.920 --> 0:29:59.600 neighborhood on their radar, even though it may not be. 0:29:59.560 --> 0:30:00.880 Perfect yet, it's coming. 0:30:01.280 --> 0:30:04.080 And usually what happens is we go to the community 0:30:04.080 --> 0:30:06.000 one day and it's the hood, and we go back 0:30:06.040 --> 0:30:08.400 a year later and it's a million dollar homes and 0:30:08.440 --> 0:30:10.280 we're like, what happened and we're mad and it's gentrification. 0:30:10.320 --> 0:30:11.960 It's like, no, what really happened was. 0:30:12.040 --> 0:30:15.080 From the time you left, other people saw value in 0:30:15.120 --> 0:30:16.880 that community and they started buying. 0:30:17.200 --> 0:30:19.640 And not everybody's buying rental properties. People are really moving 0:30:19.640 --> 0:30:20.320 in that community. 0:30:20.440 --> 0:30:23.640 They're walking their dogs, they're riding their bikes, and their 0:30:23.720 --> 0:30:27.920 values are steadily going up, steadily going up. And then 0:30:27.960 --> 0:30:29.520 by the time we get wind of what's going on 0:30:29.560 --> 0:30:31.560 in the community, the prices is so high we can't 0:30:31.560 --> 0:30:35.080 afford it, right, So that's usually what happens. 0:30:35.960 --> 0:30:39.280 So ty Shot, I know I'm talking a lot man. 0:30:39.360 --> 0:30:39.440 That. 0:30:41.480 --> 0:30:41.760 Got it. 0:30:42.120 --> 0:30:43.240 I'm actually taking notes. 0:30:44.720 --> 0:30:47.280 Yeah, I hope everybody on YouTube please hit the like button, 0:30:47.600 --> 0:30:49.840 and I hope people greatly appreciate this because it's like 0:30:49.840 --> 0:30:52.000 nobody's doing this, like nobody, And that's the reason why 0:30:52.040 --> 0:30:54.560 we created Eyo University. Like I said, it's a it's 0:30:54.600 --> 0:30:57.080 a business school, but do you know you don't learn 0:30:57.120 --> 0:30:59.600 this stuff in business schools. And this is just the beginning. 0:30:59.600 --> 0:31:01.440 Like he still got more to talk about. But it's 0:31:01.440 --> 0:31:04.040 like people talk about by the buy back the block, 0:31:04.080 --> 0:31:06.440 what does that mean? What does that mean? 0:31:06.560 --> 0:31:07.720 Right now we're even calling. 0:31:08.120 --> 0:31:09.600 So this was like, all right, this is this is 0:31:09.600 --> 0:31:13.040 a step by step blueprint from somebody that has is 0:31:13.120 --> 0:31:15.959 actually doing it and has actually done it. So now 0:31:15.960 --> 0:31:16.720 I keep going bro. 0:31:17.040 --> 0:31:17.960 Chris real real quick. 0:31:18.160 --> 0:31:20.960 So some of those signs, are there any other type 0:31:21.000 --> 0:31:24.960 of retail or commercial real estate that we should be 0:31:24.960 --> 0:31:25.880 looking for for a sign? 0:31:25.960 --> 0:31:27.440 And I know somebody in the chat sai Yo when 0:31:27.440 --> 0:31:28.600 you see a Starbucks or. 0:31:29.560 --> 0:31:32.680 Usually so that's not that we have a misconception about, right. 0:31:32.920 --> 0:31:35.880 So usually like we get mad when grocery stores and 0:31:35.880 --> 0:31:39.840 those types of businesses leave the community, But those businesses 0:31:39.880 --> 0:31:43.560 have whole departments that before they buy, before they figure 0:31:43.560 --> 0:31:45.640 out where their location, their site selection team pulls the 0:31:45.680 --> 0:31:49.600 demographics and they say, what's the average income in this community? 0:31:49.840 --> 0:31:51.000 Do these people. 0:31:51.080 --> 0:31:53.840 Earn enough and do they have enough disposable income to 0:31:53.880 --> 0:31:57.400 support our business? Right, So you're not going to see 0:31:57.440 --> 0:32:01.280 commercial signs going in until almost too because all the 0:32:01.360 --> 0:32:03.320 incomes in that area are already going to be so 0:32:03.480 --> 0:32:05.840 high and they're going to be buying houses at such 0:32:05.880 --> 0:32:08.680 high prices, and you know, the prices continue to go 0:32:08.760 --> 0:32:11.120 up that it becomes priced out for us. So what 0:32:11.880 --> 0:32:16.240 the way development usually works is the rooftops come first, 0:32:16.280 --> 0:32:19.320 the houses come first, the new residents with the higher 0:32:19.320 --> 0:32:21.640 incomes come in first. And the only way you get 0:32:21.640 --> 0:32:23.480 ahead of that wave is by looking at those signs that. 0:32:23.440 --> 0:32:24.280 I told you earlier. 0:32:24.480 --> 0:32:26.960 But yeah, it's almost almost like you see a Starbucks. 0:32:27.000 --> 0:32:27.720 It's almost too late. 0:32:28.040 --> 0:32:30.680 Yeah, they made me thinking, like whole foods don't end 0:32:30.760 --> 0:32:32.080 up in every neighborhood, you know what I mean? 0:32:32.160 --> 0:32:34.120 Right, they don't, and people don't speaking of the whole foods, 0:32:34.120 --> 0:32:36.280 people don't realize like a grocery store has the lowest 0:32:36.280 --> 0:32:38.680 profit margins of almost any business, is usually three to 0:32:38.720 --> 0:32:41.240 five percent, So they're not going to go in the neighborhood. 0:32:41.480 --> 0:32:43.040 Even if the city gives them all the money to 0:32:43.080 --> 0:32:45.440 build the facility, they still have they have to float 0:32:45.480 --> 0:32:48.440 every month. They got to be operating positive, right, So, 0:32:48.760 --> 0:32:51.120 I mean the grocery store is the highest profitability is 0:32:51.600 --> 0:32:54.840 on the fresh produce, on the meats, and the stuff 0:32:54.840 --> 0:32:55.719 on the shelves. 0:32:56.560 --> 0:32:57.800 It's not really very profitable. 0:32:57.800 --> 0:32:59.320 So if you're in a community where people are buying 0:32:59.320 --> 0:33:01.440 everything off the shelf, in the cans and in the boxes, 0:33:01.760 --> 0:33:03.920 and you got this huge overhead. 0:33:03.680 --> 0:33:05.120 From all these employees and you. 0:33:05.080 --> 0:33:07.640 Got this huge overhead from this huge lease you got, 0:33:07.840 --> 0:33:10.959 and you got this high utility bill. You know, it's 0:33:11.080 --> 0:33:13.280 highly unlikely that you're going to be profitable if you 0:33:13.360 --> 0:33:15.280 try to go into one of those neighborhoods for the 0:33:15.320 --> 0:33:18.880 sake of you know, social service, right, I mean, they 0:33:18.960 --> 0:33:20.400 have to run a business at the end of the day. 0:33:20.920 --> 0:33:24.720 Yeah, and YouTube, if you could like this, two things 0:33:24.760 --> 0:33:26.920 I need from YouTube everybody, Like, we got nine hundred 0:33:26.960 --> 0:33:29.280 and ninety seven people. There's no reason why we shouldn't 0:33:29.280 --> 0:33:32.400 have nine hundred and ninety seven likes. If you didn't 0:33:32.480 --> 0:33:36.040 like it, just politely comment why you why you thought 0:33:36.040 --> 0:33:38.440 the information wasn't valuable enough to like, it doesn't even 0:33:38.480 --> 0:33:41.160 cost anything, doesn't won't even burn a calorie. And then 0:33:41.200 --> 0:33:43.880 also share it with somebody, just going like this is 0:33:43.920 --> 0:33:46.719 life changing, generational changing information that you know, giving out 0:33:46.800 --> 0:33:48.560 right now, like you know, share it with people, and 0:33:48.560 --> 0:33:50.960 shout out to MG the mortgage guy, and shout out 0:33:51.000 --> 0:33:54.600 to Brandon Rules legend himself, and shout out to Andre Hatchett, 0:33:54.600 --> 0:33:56.720 the first teacher that we ever had for Eyo University. 0:33:57.080 --> 0:34:03.240 That's my guy man for sure, And yeah, for sure 0:34:03.320 --> 0:34:06.200 for sure. So all right, Chris and then somebody said 0:34:06.360 --> 0:34:09.399 on YouTube days like a fifth ward isn't the hood hood? Yeah, 0:34:09.400 --> 0:34:10.959 that's kind of the whole point of what he said, 0:34:11.000 --> 0:34:14.240 Like you don't want to go into the market slightly dangerous, 0:34:14.600 --> 0:34:16.520 You don't want to you don't want to invest in 0:34:16.520 --> 0:34:20.160 a full war zone like like slightly dangerous. 0:34:20.520 --> 0:34:23.920 Yeah, yeah, I mean it's something where the you know, 0:34:24.000 --> 0:34:28.480 the criminal criminal activity is going down significantly and there's 0:34:28.520 --> 0:34:30.560 more police patrols coming and all that kind of stuff. 0:34:30.560 --> 0:34:34.120 You know, you have to be there, So that's the 0:34:34.120 --> 0:34:36.080 only way you're really participating. And I understand the people 0:34:36.120 --> 0:34:39.279 that have like young kids or feel uncomfortable in those situations. Yeah, 0:34:39.520 --> 0:34:41.759 I'm not saying I'm not forcing you too. I'm just 0:34:41.800 --> 0:34:45.560 saying with my projects, I have buyers that specifically chose 0:34:45.600 --> 0:34:48.120 to come from the communities and they have had zero issues, 0:34:48.160 --> 0:34:51.319 Like they have had not a single issue. So, you know, 0:34:51.440 --> 0:34:53.480 it's all about perspective. And we talk about schools and 0:34:53.560 --> 0:34:56.359 education a lot. Thankfully in a big city like Houston, 0:34:56.400 --> 0:34:58.360 there's a lot of charter schools, a lot of private schools, 0:34:58.360 --> 0:35:01.520 so you have alternatives to the public school system until 0:35:01.560 --> 0:35:03.160 that public school system catches up. 0:35:03.040 --> 0:35:03.880 In that neighborhood. 0:35:04.239 --> 0:35:07.000 But in the same time, you think about this if 0:35:07.000 --> 0:35:10.279 you buy Okay, I'll give you an example. There was 0:35:10.320 --> 0:35:13.040 a lady that went to the Third Ward, like the 0:35:13.040 --> 0:35:15.360 hood part of the Third Ward worse than where y'all stayed, 0:35:15.360 --> 0:35:18.799 but the first house had been renovated Middle ai'ed. White 0:35:18.880 --> 0:35:20.920 lady was like one of the last people walking out 0:35:20.920 --> 0:35:22.920 of an open house. And my boy was there, and 0:35:22.960 --> 0:35:25.879 he said that ninety percent of people that walked through 0:35:25.880 --> 0:35:27.600 this open house and the hood part of the Third 0:35:27.640 --> 0:35:31.319 War were white. So he said that curiosity got the 0:35:31.320 --> 0:35:33.279 best of him. He stopped her and asked her. He's like, 0:35:33.320 --> 0:35:36.279 why are you here and what attracts you to this area? 0:35:36.280 --> 0:35:37.719 And she was like, oh, I bought my house in 0:35:37.760 --> 0:35:41.360 the Heights, in which is another neighborhood that's been gentrified 0:35:41.360 --> 0:35:43.239 for about fifteen sixteen years. She's like, I bought my 0:35:43.280 --> 0:35:45.600 house in the Heights about fifteen years ago, and the 0:35:45.640 --> 0:35:48.360 neighborhood looked just like this, and my property value is 0:35:48.360 --> 0:35:50.120 going up three hundred thousand dollars. So I'm about to 0:35:50.160 --> 0:35:52.440 sell that house and come over here and do the 0:35:52.440 --> 0:35:54.719 same thing. And I'm like, well, man, imagine the more 0:35:54.760 --> 0:35:57.600 of us thought about that. Imagine what the average household 0:35:57.640 --> 0:36:00.960 income or the average average household network be for our community. 0:36:01.160 --> 0:36:03.120 And imagine how many of our children we could pay 0:36:03.120 --> 0:36:04.800 to go to college out the equity in our homes. 0:36:05.239 --> 0:36:05.920 Notught like that. 0:36:07.520 --> 0:36:09.400 That's a lot of information. That's that's a that's a 0:36:09.440 --> 0:36:11.719 gym right there, man, that's a gym right there. 0:36:11.760 --> 0:36:13.000 We got to get to Houston, man. 0:36:13.680 --> 0:36:14.960 I can't wait to come back to here. 0:36:15.280 --> 0:36:21.440 Yo, mister Dunlop, we're paging you, all right, Yeah. 0:36:21.440 --> 0:36:24.480 I'm gonna run through the case studies real quick. So 0:36:24.560 --> 0:36:27.040 let's talk about fifth Ward. People talking about not the hoods. 0:36:27.040 --> 0:36:30.120 So let's go through it. So settling the middle eighteen hundreds, 0:36:30.120 --> 0:36:34.319 believe it or not, Middle eighteen hundreds to nineteen hundred, 0:36:34.360 --> 0:36:37.200 it was actually half it was mixed, uh white and black. 0:36:37.920 --> 0:36:40.440 It was annexed to the city eighteen sixty six. By 0:36:40.480 --> 0:36:43.680 nineteen hundred, it's a predominantly black neighborhood with thriving businesses. 0:36:45.480 --> 0:36:47.440 And don't believe it, let me show you. This is 0:36:47.520 --> 0:36:49.200 Lions Avenue. This is the same street that one of 0:36:49.239 --> 0:36:51.960 my projects was on. This is this is from the fifties. 0:36:52.120 --> 0:36:55.560 On Lions Avenue. You see all types of businesses all up. 0:36:55.440 --> 0:36:57.160 And down the street. And you see who's walking up 0:36:57.160 --> 0:36:59.440 and down the street. This was a segregated neighborhood at 0:36:59.440 --> 0:37:01.919 that point in time. Okay, this is the other way 0:37:01.960 --> 0:37:04.520 down the same street. I mean I see tailors, I 0:37:04.520 --> 0:37:07.640 see movie theaters, I see pawn shops. You know, I 0:37:07.680 --> 0:37:10.960 see restaurants. Everything's in the community, right. But then in 0:37:10.960 --> 0:37:14.920 the nineteen sixties, when desegregation happened, two major freeways came 0:37:14.920 --> 0:37:18.080 through the community. Of course, all these negative impacts caused 0:37:18.120 --> 0:37:20.640 a lot of disinvestment, and then some of the redlining 0:37:20.680 --> 0:37:23.800 impacts also hurt the community, and by the nineteen seventies 0:37:23.840 --> 0:37:26.480 there was a mass exodus of the majority of successful people, 0:37:26.680 --> 0:37:28.799 the business owners. A lot of them had closed up 0:37:28.840 --> 0:37:31.120 shops because the patronage had gone down, the customers had 0:37:31.200 --> 0:37:35.839 moved out, and so the communities no longer thrived. But 0:37:35.880 --> 0:37:37.560 what that did is that that opened up opportunity for 0:37:37.560 --> 0:37:39.839 other people to come into the community. However, these are 0:37:39.840 --> 0:37:42.080 some of the other highlights, like the picture of the 0:37:42.080 --> 0:37:46.520 bottom on the writers, the first black hospital built in 0:37:46.640 --> 0:37:50.600 fifth Ward, actually in Houston, that we had, you know, 0:37:51.000 --> 0:37:52.040 recording studios. 0:37:52.440 --> 0:37:54.240 I mean, you know, these neighborhoods were thriving. 0:37:54.440 --> 0:37:56.600 So that's the part that I want people to remember 0:37:56.600 --> 0:37:58.080 when we think about these neighborhoods. 0:37:58.760 --> 0:38:00.360 They used to be graded if. 0:38:00.200 --> 0:38:02.319 We had a black wall street in every city, because 0:38:02.360 --> 0:38:04.480 we had to create our own. We couldn't we couldn't 0:38:04.520 --> 0:38:08.880 patronize other other neighborhoods. So this is the freeway that 0:38:08.960 --> 0:38:11.480 kind of came through. This is the same street in 0:38:11.520 --> 0:38:14.160 the same vicinity, like one block off, but you see 0:38:14.160 --> 0:38:16.759 now the only thing that's left. Thankfully, the churches are 0:38:16.760 --> 0:38:21.360 still there, but the neighborhood is a lot less activity 0:38:21.400 --> 0:38:23.160 going on, a lot A lot of the buildings are going now. 0:38:24.239 --> 0:38:26.920 So this is the property that I bought, which is 0:38:27.040 --> 0:38:27.720 infant Ward. 0:38:27.960 --> 0:38:30.040 That's the same freeway that you see in the back 0:38:30.120 --> 0:38:33.520 on the left side Highway fifty nine. So in twenty fourteen, 0:38:34.200 --> 0:38:35.680 I did what I was telling everybody to early. 0:38:35.680 --> 0:38:36.759 I was watching the city trend. 0:38:36.840 --> 0:38:39.840 I was watching redevelopment and it was going counterclockwise around downtown, 0:38:40.360 --> 0:38:42.439 and this was the last neighborhood that had not been 0:38:43.320 --> 0:38:44.160 touched by. 0:38:44.080 --> 0:38:45.640 Redevelopment or gentrification. 0:38:46.200 --> 0:38:49.160 So I was able to negotiate with this owner to 0:38:49.200 --> 0:38:53.960 buy this entire block for half a million dollars and 0:38:54.120 --> 0:38:55.399 negotiate ten percent down. 0:38:55.520 --> 0:38:58.040 Okay, so I actually sold a couple of rental properties. 0:38:58.040 --> 0:39:00.759 I had an investor put in a little bit, and 0:39:01.000 --> 0:39:04.200 I took control of this property. Everybody thought I was crazy. 0:39:04.239 --> 0:39:06.080 This was still the bloody nickel at that point in time. 0:39:06.080 --> 0:39:06.680 But I knew. 0:39:07.080 --> 0:39:10.120 I knew just by watching the redevelopment trending, eventually it 0:39:10.200 --> 0:39:12.279 was going to come because this was like literally the 0:39:12.400 --> 0:39:15.800 last quadrant around downtown that had not been redeveloped. Okay, 0:39:16.160 --> 0:39:19.719 so I actually paid over market value. Here's why there 0:39:19.760 --> 0:39:22.160 were no sales. There was no comps, So if you 0:39:22.200 --> 0:39:24.560 looked at the tax records, that's the all thing can 0:39:24.600 --> 0:39:26.959 go off of. It had the whole property worth about 0:39:27.000 --> 0:39:28.280 three hundred and fifty thousand. 0:39:28.400 --> 0:39:29.960 But what I. 0:39:29.920 --> 0:39:33.960 Knew taking a calculated risk by watching the redevelopment. It's like, well, 0:39:34.000 --> 0:39:36.160 if I'm not paying cash for it, and I'm only 0:39:36.200 --> 0:39:40.319 giving him fifty thousand right now, and I'm financing it 0:39:40.360 --> 0:39:43.920 for twenty thirty years, it's highly likely that by the 0:39:43.960 --> 0:39:46.040 time I get even close to paying this off, the 0:39:46.120 --> 0:39:47.360 value will have caught. 0:39:47.160 --> 0:39:48.239 Up and exceeded it. 0:39:48.920 --> 0:39:50.600 So what that does is it almost put you in 0:39:50.600 --> 0:39:53.000 a position where you're like kind of partnering with the owners. 0:39:53.320 --> 0:39:54.600 You know, you're telling them you're going to give him 0:39:54.600 --> 0:39:56.200 a little bit more over time than what the property 0:39:56.280 --> 0:39:59.040 is currently worth. But you have everything calculated and you 0:39:59.120 --> 0:40:02.399 know that the time you make whatever move you're gonna make, 0:40:02.520 --> 0:40:04.200 the value will have caught up and you will have 0:40:04.239 --> 0:40:10.439 equity on the back end. So okay, So I talked 0:40:10.480 --> 0:40:14.080 about this already. So twenty fourteen is when I bought it. 0:40:14.120 --> 0:40:17.000 Twenty sixteen the bet paid off two thousand and sixteen. 0:40:17.040 --> 0:40:19.320 This is the south end of Fifth Ward. One of 0:40:19.400 --> 0:40:21.879 the biggest developers in Houston bought one hundred and thirty 0:40:21.880 --> 0:40:24.160 six acres that used to be KBR used to be 0:40:24.200 --> 0:40:27.759 the National Defense contractor, right next to downtown, right on. 0:40:27.680 --> 0:40:29.879 The water and what we considered the hood. 0:40:29.960 --> 0:40:32.160 But of course they always find value when you know, 0:40:32.200 --> 0:40:35.120 when we don't find value, and they put this big 0:40:35.160 --> 0:40:38.239 plan together, do this massive project, and so that was 0:40:38.280 --> 0:40:42.480 the first catalyst in the community. So this again, this 0:40:42.680 --> 0:40:45.879 is the project site that they got. You see where 0:40:45.920 --> 0:40:49.560 downtown is and the stars where both of my projects are. 0:40:49.560 --> 0:40:51.600 So one of my projects is right here, the new 0:40:51.640 --> 0:40:54.960 construction townhome project where the grocery store is is right there. 0:40:55.200 --> 0:40:58.560 Now that's one mile radius. This one is like a 0:40:59.040 --> 0:41:00.640 little bit more than three quarter from my. 0:41:01.080 --> 0:41:02.359 RADI is what other project is? 0:41:02.840 --> 0:41:06.400 Okay, this is what's going to be built on that site. 0:41:06.440 --> 0:41:08.719 This is not speculation. This is what's going to be there. 0:41:10.200 --> 0:41:12.360 Okay. They've already they've already cleared. 0:41:12.000 --> 0:41:14.200 All of the old buildings, They've already done all the underground, 0:41:14.200 --> 0:41:17.120 different structure, they've run all the utilities. They did slow 0:41:17.160 --> 0:41:19.840 down a little bit because of COVID and some of 0:41:19.880 --> 0:41:21.720 the lumber prices and stuff going up, but the CEO 0:41:21.760 --> 0:41:24.680 said they're still moving forward with the project. So after 0:41:24.680 --> 0:41:28.120 that happened in twenty sixteen, here's another creative technique you 0:41:28.160 --> 0:41:33.920 can use. I talked the owner into converting from a 0:41:34.160 --> 0:41:37.279 owner finance note, which is like a mortgage note, to 0:41:37.480 --> 0:41:40.920 partnering with me. So what I said was, look, I 0:41:40.960 --> 0:41:44.600 still owe you like three hundred thousand. You can wait 0:41:44.800 --> 0:41:47.640 next twenty years to get it, or you can partner 0:41:47.680 --> 0:41:50.000 with me on this project and let me figure out 0:41:50.040 --> 0:41:52.640 how I can do some new construction, and then I 0:41:52.680 --> 0:41:54.560 can pay you out as I sell these houses on 0:41:54.560 --> 0:41:55.879 the back end, and you can be paid off in. 0:41:55.800 --> 0:41:59.000 Three or four years instead of waiting thirty years. Okay, 0:41:59.040 --> 0:42:00.320 so he agreed. So what did that do? 0:42:00.760 --> 0:42:03.080 That took the mortgage off of the property. So now 0:42:04.200 --> 0:42:08.880 I am the primary the primary partner, he's a limited partner, 0:42:09.600 --> 0:42:11.880 and I have this property. I can now go to 0:42:11.920 --> 0:42:13.000 the bank and say it's free and clear. 0:42:13.000 --> 0:42:16.600 I don't have any debt on it. Right. 0:42:16.800 --> 0:42:19.520 So then I used the property as collateral as I 0:42:19.520 --> 0:42:20.640 started shopping to get. 0:42:20.480 --> 0:42:22.200 The loans to do the redevelopment. 0:42:24.000 --> 0:42:25.759 But the downside, of course, what I talked about earlier, 0:42:25.800 --> 0:42:27.839 I had to go through twenty three different lenders before 0:42:27.840 --> 0:42:29.799 I got approved. No matter how great my plan was, 0:42:30.239 --> 0:42:34.239 there was no established marketability in this neighborhood because there 0:42:34.600 --> 0:42:38.600 was no new construction. Even though the redevelopment was that close, 0:42:39.280 --> 0:42:41.000 it was really hard for me to find a lender 0:42:41.120 --> 0:42:43.640 that would that would partner with me on the project. 0:42:44.000 --> 0:42:46.400 So you know, I had a private investor. 0:42:46.040 --> 0:42:49.640 Come in and put in an IRA money two hundred 0:42:49.680 --> 0:42:55.759 fift thousand. She she's a young black chick that worked 0:42:55.760 --> 0:42:58.880 for oil and gas company, worked for Shell for a while. 0:42:58.920 --> 0:43:01.759 She had a nice I R that she was that 0:43:01.800 --> 0:43:04.160 she wasn't using or sitting in the stock market, and 0:43:04.280 --> 0:43:06.319 you know, I showed her the vision, she believed in it, 0:43:06.480 --> 0:43:08.399 and she's like, okay, cool. I didn't take her money 0:43:08.400 --> 0:43:10.359 and spend it. I took it and put it in 0:43:10.360 --> 0:43:12.560 a bank account to show interest reserves to hope that 0:43:12.640 --> 0:43:14.440 hopefully would try to sweeten the deal with the lender. 0:43:15.600 --> 0:43:17.560 Chris, not to cut you off, but yeah, we did 0:43:17.600 --> 0:43:21.040 a we did a class on self directed iras too University, 0:43:21.600 --> 0:43:23.480 and I'm not sure if that's the path fe you went, 0:43:23.560 --> 0:43:25.160 but a lot of people don't even realize that you 0:43:25.160 --> 0:43:28.120 could actually use your retirement accounts like an IRA to 0:43:28.200 --> 0:43:30.360 invest in real estate without paying taxes. So I just 0:43:30.360 --> 0:43:31.160 wanted to throw that in. 0:43:31.120 --> 0:43:33.880 This and that's exactly right. 0:43:33.880 --> 0:43:35.640 When you have a self directed IRA, you can invest 0:43:35.640 --> 0:43:38.840 in any asset that you choose, and it's literally self directed. 0:43:38.960 --> 0:43:42.520 You just have a company that's basically a custodian for 0:43:42.560 --> 0:43:45.160 you to help you check boxes. But yeah, you can. 0:43:45.320 --> 0:43:47.640 You can invest it however you want. So that's something 0:43:47.680 --> 0:43:52.239 that you can leverage in real estate. So, like I said, 0:43:52.239 --> 0:43:55.120 there's challenges with no new construction. Also, when I got 0:43:55.200 --> 0:43:56.680 ready to start the project, what I realized is like 0:43:56.680 --> 0:43:58.880 a lot of these older neighborhoods, there's a lack of 0:43:58.960 --> 0:43:59.960 utility infrastructure. 0:44:00.400 --> 0:44:01.120 So this old. 0:44:00.920 --> 0:44:03.479 Grocery store didn't have much plumbing, you know, it wasn't 0:44:03.560 --> 0:44:06.120 drawing much electricity. And when I got ready to do 0:44:06.160 --> 0:44:08.360 my new project, I realized that the city was going 0:44:08.440 --> 0:44:10.880 to require me to update a lot of this infrastructure. 0:44:10.920 --> 0:44:12.239 So that's something that you got to think about if 0:44:12.239 --> 0:44:13.240 you're planning on doing. 0:44:13.360 --> 0:44:16.480 Projects on this scale, something that you usually don't think 0:44:16.480 --> 0:44:18.640 about when you're just flipping the house or building one 0:44:18.680 --> 0:44:23.200 or two houses on a lot, because usually that what 0:44:23.320 --> 0:44:26.600 you're building will not impact the infrastructure greatly. But when 0:44:26.640 --> 0:44:28.799 you're trying to do a bigger project, you do have 0:44:28.840 --> 0:44:32.800 to consider those things. So this talks about more twenty 0:44:32.880 --> 0:44:36.120 seventeen now redevelopment. Remember that first neighborhood. I I told 0:44:36.120 --> 0:44:40.239 you all about the Heights. Now see twenty seventeen. Three 0:44:40.280 --> 0:44:43.160 years later it's in the newspaper they calling Fifth or 0:44:43.239 --> 0:44:46.000 the New Heights. 0:44:46.320 --> 0:44:48.960 That's how it happens, once they start renaming neighborhoods. Once 0:44:49.000 --> 0:44:53.279 I've seen Sobro, Yeah, so Bro, you know what Sobro is. No, 0:44:53.400 --> 0:44:55.160 it was that South Bronx. 0:44:55.520 --> 0:44:56.000 South Bronx. 0:44:56.080 --> 0:44:59.520 Yeah, that was one of the most dangerous neighborhood support 0:44:59.600 --> 0:45:02.080 one of the more poorest neighborhoods in America, one of 0:45:02.080 --> 0:45:05.640 the most dangerous neighborhoods in America. It's still not the greatest. 0:45:05.760 --> 0:45:08.960 But when they started naming it so Bro and they 0:45:09.000 --> 0:45:11.040 put like a wholes and all of that, and it's like, 0:45:11.120 --> 0:45:11.680 all right. 0:45:11.880 --> 0:45:15.200 Ye, don't say that because the official name for that 0:45:15.360 --> 0:45:16.960 for that south in the fifth one. Now they call 0:45:17.080 --> 0:45:19.280 it North Eto, which is east of downtown. 0:45:19.880 --> 0:45:22.439 Yeah. That's another that's another thing too. Once you start 0:45:22.440 --> 0:45:26.040 to see names, because it's like even know how I 0:45:26.080 --> 0:45:31.240 think it was nor North Manhattan No. 0:45:29.840 --> 0:45:33.080 No, no, no, that was Houston. 0:45:34.280 --> 0:45:36.960 No no, no, they had it. They try to rename 0:45:37.040 --> 0:45:40.480 Harlem something like North Manhattan. 0:45:40.520 --> 0:45:40.560 No. 0:45:41.640 --> 0:45:44.920 Yeah. And so once they start to get funny with 0:45:44.960 --> 0:45:48.279 those names like so Bro no ho, that's like the 0:45:48.360 --> 0:45:50.200 hipsters they trying to they try to rebrand it. 0:45:50.480 --> 0:45:53.719 They there trying to rebrand the community those are you 0:45:53.960 --> 0:45:55.880 talking about has a stigma that the old name has 0:45:55.920 --> 0:45:57.920 a stigma, so they want to try to, like you said, rebranded. 0:45:58.200 --> 0:45:59.800 Yeah, So that that's part of the announcement. 0:45:59.840 --> 0:46:01.399 So when you were talking about announcements, when you start 0:46:01.400 --> 0:46:04.160 seeing things like that I saw somewhere and you can 0:46:04.160 --> 0:46:06.680 correct me if if I'm wrong, but they named the 0:46:06.719 --> 0:46:07.239 Fifth World. 0:46:07.360 --> 0:46:09.040 They have a Cultural Arts district. 0:46:09.560 --> 0:46:12.520 Yes, yes, now now thankfully with this with this time, 0:46:12.640 --> 0:46:15.600 it was us doing that. So the Fifth World Redevelopment 0:46:15.600 --> 0:46:18.120 Corporation did that Culture Arts District, and it's it's gonna 0:46:18.120 --> 0:46:19.680 be You're right, it's going to be the first African 0:46:19.680 --> 0:46:21.360 American culture Arts district in Houston. 0:46:21.680 --> 0:46:22.080 Perfect. 0:46:22.080 --> 0:46:24.680 Perfect, yeah, man. So that's what I'm saying. 0:46:25.080 --> 0:46:28.160 This neighborhood, they've been staying ahead of you know, not 0:46:28.400 --> 0:46:29.480 not playing victim. 0:46:29.200 --> 0:46:30.640 And being behind. They've been in front of the ball. 0:46:30.719 --> 0:46:31.960 So it's been really good. 0:46:32.880 --> 0:46:35.600 So this goes back to this is the CEO recently 0:46:35.680 --> 0:46:38.160 in August, you know, amidst covid just saying that the 0:46:38.160 --> 0:46:40.880 project is still going forward. Right, So this is that 0:46:40.960 --> 0:46:43.759 same block. This is the same block that I showed 0:46:43.800 --> 0:46:47.040 you earlier. That's what it looks like now. 0:46:47.160 --> 0:46:48.520 And that that that's your block. 0:46:48.880 --> 0:46:52.040 That's your block, man. You pulled up on that. 0:46:52.320 --> 0:46:55.040 Yeah, yeah, man, put put that. Put the clap in 0:46:55.040 --> 0:46:57.120 the movie. I just want to know you gotta celebrate that, man, 0:46:57.160 --> 0:46:59.160 because yeah, I wish we could do it side by side, 0:46:59.200 --> 0:47:01.120 But that blo I think he brought earlier. 0:47:01.560 --> 0:47:03.200 Yeah, let me go back to it. 0:47:03.280 --> 0:47:06.040 Yeah, can you go back to that? Yeah, so that block, 0:47:06.239 --> 0:47:09.160 you brought that block? And then how many years later. 0:47:09.960 --> 0:47:13.839 So twenty fourteen, and then twenty nineteen, twenty eighteen when 0:47:13.920 --> 0:47:17.000 when I first started building them, So twenty nineteen they 0:47:17.040 --> 0:47:18.560 were the first three were done. I think that's when 0:47:18.560 --> 0:47:22.200 I was on y'all show last year, and you know, 0:47:22.360 --> 0:47:24.279 people told me that they were like, man, nobody's gonna 0:47:24.280 --> 0:47:25.759 buy that. You know, nobody's gonna want to live in 0:47:25.760 --> 0:47:27.920 the neighborhood. You know you're not gonna be able to 0:47:27.920 --> 0:47:29.719 get the prices that you're thinking you're gonna get for them. 0:47:30.080 --> 0:47:33.719 And I mean, I proved everybody wrong. I got I 0:47:33.719 --> 0:47:36.880 got full asking price. All the buyers looked like me, everybody. 0:47:37.320 --> 0:47:39.799 I didn't have to oversell anybody. There's enough of us 0:47:39.800 --> 0:47:42.520 that see the value of moving back to our communities. 0:47:43.120 --> 0:47:44.960 That you know it's worth it. 0:47:44.960 --> 0:47:47.359 It's worth it's worth taking a shot, it's worth of 0:47:47.640 --> 0:47:49.759 rebuilding and bringing people back to the community. 0:47:50.040 --> 0:47:50.200 Man. 0:47:50.280 --> 0:47:53.240 One of one of the most powerful experiences I had 0:47:53.800 --> 0:47:55.160 was when I was under construction. 0:47:55.960 --> 0:47:57.839 It's two two black kids walked down the street. 0:47:57.840 --> 0:48:00.360 Two boys, they were like maybe thirteen fourteen some like that, 0:48:00.880 --> 0:48:03.600 and they're like, man, you're building rent houses and I'm 0:48:03.680 --> 0:48:07.400 like no. He's like he's like, you work for the 0:48:07.880 --> 0:48:10.239 person that's building these. I'm like, no, I'm building them. 0:48:10.360 --> 0:48:12.239 He was like okay, He's like who's going to buy these? 0:48:13.320 --> 0:48:15.239 I was like, well, who you think is gonna bomb? 0:48:15.280 --> 0:48:16.799 He's like, well, they look like it looked like white 0:48:16.800 --> 0:48:19.200 people gonna buymb and I. 0:48:19.120 --> 0:48:21.160 Was like, man, you know, you know, well you'll be surprised, 0:48:21.200 --> 0:48:22.719 you man, know, there's people that look like you that 0:48:22.760 --> 0:48:24.320 can also afford these types of things. 0:48:24.680 --> 0:48:26.280 And I was like, I had two of them under contract. 0:48:26.600 --> 0:48:28.800 I was like, so, actually the first two buyers. 0:48:28.640 --> 0:48:30.400 Are people that come from a neighborhood just like you 0:48:30.440 --> 0:48:32.640 and went to college and you know, they have good 0:48:32.719 --> 0:48:34.880 jobs now and now they're coming back and buying this. 0:48:35.200 --> 0:48:38.080 And they were like, man, we didn't know that was possible. 0:48:38.600 --> 0:48:42.279 But you know that sounds sounds kind of cliche, but 0:48:42.280 --> 0:48:44.400 there's there's kids in that community that now have a 0:48:44.400 --> 0:48:45.640 positive representation. 0:48:46.000 --> 0:48:47.640 They can see people that look. 0:48:47.600 --> 0:48:50.040 Like them, that's our age pulling out their driveways and 0:48:50.560 --> 0:48:53.600 porsches and audi's and BMW's. 0:48:53.680 --> 0:48:54.319 It looked like them. 0:48:54.360 --> 0:48:57.280 That's the representation they didn't have before. The only representation 0:48:57.360 --> 0:48:59.840 they had of successful people was illegal entrepreneurs. 0:48:59.840 --> 0:49:03.080 You know. But that's all a part of buying the block. 0:49:03.160 --> 0:49:03.239 Man. 0:49:03.280 --> 0:49:04.920 It's not just about you buying and you being an 0:49:04.960 --> 0:49:08.000 investor and just holding it onto it. It's about creating 0:49:08.040 --> 0:49:11.040 opportunities like this as being in the development and building 0:49:11.080 --> 0:49:14.200 and enticing other people to come back to the community. 0:49:14.560 --> 0:49:19.439 So that's amazing. Yeah, So fast forward. This is fifth ward. 0:49:19.480 --> 0:49:22.520 Now you see all these prices over here right for 0:49:22.560 --> 0:49:23.560 four hundred thousand dollars. 0:49:23.560 --> 0:49:23.719 Hour. 0:49:24.120 --> 0:49:26.760 When I bought that first block, you couldn't you couldn't 0:49:26.800 --> 0:49:28.080 sell a lot for twenty thousand dollars. 0:49:28.160 --> 0:49:28.799 It would just sit. 0:49:29.360 --> 0:49:32.200 But now you have all this activity, the yellow ones 0:49:32.239 --> 0:49:34.799 appending the green, the new listings, and there's a bunch 0:49:34.800 --> 0:49:36.360 of souls that are in the community. 0:49:36.760 --> 0:49:38.480 But four hundred thousand dollars, you know. 0:49:39.600 --> 0:49:43.040 And so this is one of one of the articles 0:49:43.080 --> 0:49:44.680 that they put me in the paper for just talking 0:49:44.680 --> 0:49:47.040 about my projects. This is not talking about the second project. 0:49:48.040 --> 0:49:50.800 So let's go back to the Highway story. So this 0:49:51.040 --> 0:49:53.960 block right here is the second product. This is the 0:49:53.960 --> 0:49:56.800 eighteen houses I was talking about with the two commercial buildings. 0:49:57.000 --> 0:49:59.400 This is that same freeway once again, an infamous freeway. 0:50:00.080 --> 0:50:02.239 So you know, we can continue to talk about these 0:50:02.239 --> 0:50:05.040 things and complain about them, or we can say, Okay, 0:50:05.080 --> 0:50:06.720 we know this is there, we know this happened. 0:50:06.840 --> 0:50:07.640 Now what are we going to. 0:50:07.640 --> 0:50:08.200 Do about it? 0:50:08.480 --> 0:50:11.480 Right, it's our responsibility to fix the problem. 0:50:11.560 --> 0:50:15.399 So the owners of this, the landlords, they had had 0:50:15.400 --> 0:50:19.720 this for about twenty years and they were ready to retire. 0:50:19.800 --> 0:50:21.719 So not all landlords passed property down. 0:50:21.760 --> 0:50:25.040 That's another myth. Real estate is not generational wealth unless 0:50:25.080 --> 0:50:29.080 you have taught your kids how to do systems and 0:50:29.120 --> 0:50:31.399 they see that it's worthwhile for them to take over 0:50:31.440 --> 0:50:35.040 that same investment, that same vehicle. In this case, the 0:50:35.120 --> 0:50:37.200 kids did not want to take over it, so the 0:50:37.239 --> 0:50:39.759 parents were told that they should sell it. 0:50:39.880 --> 0:50:40.280 Okay. 0:50:40.640 --> 0:50:43.359 So, and what would have happened if I didn't buy it? 0:50:43.400 --> 0:50:46.200 Because all that redevelopment, by the way, all those new townhomes, 0:50:46.239 --> 0:50:48.080 if you see my cursor up in the left corner, 0:50:48.120 --> 0:50:51.520 that's right there, that's all new construction right there. So 0:50:51.680 --> 0:50:54.680 had I not bought it, an investment outside the community 0:50:54.680 --> 0:50:56.399 would have bought it and they were done a couple 0:50:56.440 --> 0:50:58.080 of things. They would have came in and you know, 0:50:58.160 --> 0:51:01.400 did the deep renovations, you know, and then raise the 0:51:01.440 --> 0:51:04.360 rents and if tenants can't afford it, oh well, or 0:51:04.360 --> 0:51:05.839 they would have held it for a little while decided 0:51:05.880 --> 0:51:07.600 to tear it down and build some new construction here. 0:51:07.760 --> 0:51:10.320 But for me, this was an opportunity to say, Okay, 0:51:10.320 --> 0:51:12.600 on that other block, I bought that old abandoned grocery 0:51:12.600 --> 0:51:14.719 store in that site, I brought new construction in. 0:51:15.000 --> 0:51:16.920 Now I can show the other side of buying the block. 0:51:17.400 --> 0:51:19.280 We can buy the block and make sure we preserve 0:51:20.760 --> 0:51:23.720 the lifestyles and the sense of normalcy that the residents 0:51:23.719 --> 0:51:26.279 have that have been here long term. So the way 0:51:26.440 --> 0:51:28.560 you can do a project like this, since it is 0:51:28.640 --> 0:51:31.000 so close to redevelopment, it's so close to the catalyst 0:51:31.080 --> 0:51:33.680 that I talked about earlier, is that you can get 0:51:33.719 --> 0:51:37.080 your return on your investment through value appreciation. Okay, because 0:51:37.080 --> 0:51:39.359 this property value is going to go up significantly, so 0:51:39.440 --> 0:51:42.520 you don't have to worry so much about cash flow 0:51:42.680 --> 0:51:45.080 solely where you have to raise the rents astronomically to 0:51:45.080 --> 0:51:47.680 get the return. This property value is going to double 0:51:47.800 --> 0:51:52.440 or triple but you know, conservative conservatively, I'm saying it's 0:51:52.480 --> 0:51:53.640 going to go up thirty to forty percent. 0:51:53.640 --> 0:51:56.239 But every other neighborhood that's been gentrified lots that. 0:51:56.200 --> 0:51:59.360 Will worth two fifty I mean, we're worth twenty five thousand, 0:51:59.400 --> 0:52:03.040 and now we're two and fifty thousand. So for this one, 0:52:03.080 --> 0:52:04.200 this is the one I actually got to do the 0:52:04.200 --> 0:52:06.759 crowdfund on. So what I did with the crowdfund, I'll 0:52:06.760 --> 0:52:10.600 go back to this FLA. The crowdfund is once I 0:52:10.640 --> 0:52:14.600 negotiated with the sellers to the purchase price. They wanted 0:52:14.640 --> 0:52:18.000 one point five million for the whole block. I negotiated 0:52:18.000 --> 0:52:20.760 them down to one point two five So I negotiate 0:52:20.800 --> 0:52:24.279 them down a quarter of a million. And you know 0:52:24.360 --> 0:52:26.920 what happened was, since they were sellers and you know, 0:52:27.480 --> 0:52:29.680 they really didn't have accounting and all that kind of stuff, 0:52:29.760 --> 0:52:31.960 I told them, you know, even if you wanted to, 0:52:33.640 --> 0:52:35.319 if you wanted me to pay one point five for it, 0:52:35.600 --> 0:52:37.040 I couldn't go to a bank and get a one 0:52:37.080 --> 0:52:40.040 point five million dollar valuation because you don't, you know, 0:52:40.080 --> 0:52:42.120 there's no accounting records to show where the true revenue 0:52:42.160 --> 0:52:42.920 is for the property. 0:52:43.160 --> 0:52:44.719 There's not a lot of sales in the community. 0:52:45.080 --> 0:52:47.440 So you know, what I would like to do is 0:52:47.719 --> 0:52:50.200 get you to you know, come down a little bit 0:52:50.239 --> 0:52:52.360 off of that price and work with me over a 0:52:52.360 --> 0:52:54.320 few years. Let me establish the accounting records, let me 0:52:54.400 --> 0:52:56.440 establish all these things, and then I can go back 0:52:56.480 --> 0:53:01.640 and refinance. And then once the bank see the you know, 0:53:01.640 --> 0:53:04.520 the records, they can extract a true value for that 0:53:04.719 --> 0:53:07.560 entire block, and it'll be much easier for me to 0:53:07.600 --> 0:53:09.520 get them to give me six hundred and fifty thousand, 0:53:09.520 --> 0:53:12.439 which is half of the purchase price, then it would 0:53:12.520 --> 0:53:14.080 be for me to go and ask them for one 0:53:14.080 --> 0:53:16.560 point five million right now. And so that's the kind 0:53:16.560 --> 0:53:19.160 of conversations you have to have with sellers sometimes if you. 0:53:19.160 --> 0:53:19.960 Want to get creative. 0:53:20.280 --> 0:53:23.160 And they bought in, you know, so they owner finances, 0:53:23.560 --> 0:53:25.720 they wouldn't take ten percent, they wouldn't take twenty percent 0:53:25.760 --> 0:53:30.080 down so they wanted something significant, so fifty percent. So 0:53:30.120 --> 0:53:32.880 what I did with that was, first I secured a 0:53:32.960 --> 0:53:37.000 private investor that I knew that could back me on 0:53:37.239 --> 0:53:40.920 bringing the majority of that down payment to closing if 0:53:40.920 --> 0:53:44.279 I couldn't raise it. But once I secured that this 0:53:44.320 --> 0:53:46.200 is the opportunity, I decided it was okay to do 0:53:46.239 --> 0:53:49.400 a crowdfund with because the crowdfund, like I talked about earlier, 0:53:50.280 --> 0:53:52.800 it requires you to. 0:53:52.600 --> 0:53:55.200 Have all your your i's dotted. 0:53:54.920 --> 0:53:58.040 And your tea's crossed because you're going to take outside 0:53:58.040 --> 0:54:00.840 people's money. And so with this, some of these residents 0:54:00.880 --> 0:54:02.920 in these houses have been living there for twenty years. 0:54:02.960 --> 0:54:03.360 Literally. 0:54:04.280 --> 0:54:07.040 There's there's mother daughters that live in separate houses on 0:54:07.040 --> 0:54:09.200 the property. There's niece and uncle that lived next door 0:54:09.239 --> 0:54:12.160 to each other. And you know, these are long term 0:54:12.239 --> 0:54:17.600 stable tenants, all all African American, some. 0:54:17.520 --> 0:54:21.280 Of them, most of them. 0:54:20.000 --> 0:54:22.120 Actually all of them hardworking. I don't have there's no 0:54:22.200 --> 0:54:24.400 there's really no Section eight tenants here. These are people 0:54:24.400 --> 0:54:28.719 that are just hardworking but on fixed incomes. Right, So 0:54:30.120 --> 0:54:31.719 for that, that made a good base case for me. 0:54:31.800 --> 0:54:35.279 It's like, Okay, there's long term stable revenue coming from 0:54:35.360 --> 0:54:38.200 the residential side of this property. These two commercial buildings 0:54:38.239 --> 0:54:41.560 over here were vacant, so that gives me upside, right, 0:54:41.600 --> 0:54:43.399 so I can buy it. No, I'm gonna have all 0:54:43.400 --> 0:54:46.040 this revenue, which is about nine thousand, almost ten thousand 0:54:46.040 --> 0:54:48.120 dollars a month coming from here, and then I can 0:54:48.160 --> 0:54:51.040 go in and renovate these two and bring in another 0:54:51.080 --> 0:54:52.759 seven eight thousand dollars a month in revenue on the 0:54:52.800 --> 0:54:54.240 commercial side. 0:54:54.600 --> 0:54:55.279 So that's what I did. 0:54:55.320 --> 0:54:58.239 So that's how I decided to package it up, and 0:54:58.239 --> 0:55:01.840 I decided to do the crowdfund. And you know, I 0:55:01.840 --> 0:55:03.719 didn't know how successful the crowdfund was going to be, 0:55:04.160 --> 0:55:07.279 but it ended up being extremely successful. The most you 0:55:07.320 --> 0:55:10.520 can raise with this type of crowdfund and it's SEC regulated, 0:55:10.680 --> 0:55:13.520 is a million and seventy thousand, and it took me 0:55:13.560 --> 0:55:16.040 seven months and we hit that goal. So that gave 0:55:16.120 --> 0:55:19.640 us enough money to go in and renovate everything and 0:55:19.680 --> 0:55:25.120 pay off the short term debt with the bridge loan 0:55:25.160 --> 0:55:26.719 because I did have to close on it in March, 0:55:26.719 --> 0:55:28.960 which was before I had raised the full six hundred thousand, 0:55:29.360 --> 0:55:31.640 so I ended up using some of the private investors' money, 0:55:31.680 --> 0:55:34.480 but not all of it. So this is what the 0:55:34.480 --> 0:55:36.759 properties looked like before. Again, attendants had been there long term, 0:55:36.800 --> 0:55:38.600 they were happy with it. So what I did was 0:55:38.600 --> 0:55:41.560 I just to reinforce that we were there to protect 0:55:41.600 --> 0:55:42.399 them and you. 0:55:42.360 --> 0:55:44.120 Know, we were going to be good landlords. 0:55:44.960 --> 0:55:46.759 I went and I did some slight renovations to the 0:55:46.800 --> 0:55:48.080 property just to make them feel better. 0:55:48.200 --> 0:55:49.279 So this is what it looks like now. 0:55:49.320 --> 0:55:51.719 I came in, I did landscaping, I put screens on 0:55:51.760 --> 0:55:56.680 everybody's windows to help with their utility bills, and repainted everything. 0:55:57.080 --> 0:55:58.440 Just made it look nice and neat, and you can 0:55:58.440 --> 0:55:59.440 see the bottom picture. 0:55:59.239 --> 0:56:01.960 Actually repaved it everything to give it a fresh new look. 0:56:02.719 --> 0:56:04.800 This is the status of one of the commercial buildings. 0:56:05.040 --> 0:56:06.920 So this is going to be short term peer space. 0:56:07.200 --> 0:56:09.319 So this is what looked like before. It looked like 0:56:09.320 --> 0:56:11.640 it was almost tear down worthy, you know, but we 0:56:11.680 --> 0:56:13.759 took it back to the bones, and now this is 0:56:13.760 --> 0:56:16.759 what it looks like. This is what it looked like 0:56:16.800 --> 0:56:21.120 on the inside before, and so this is what it 0:56:21.120 --> 0:56:23.920 looks like now. This is what a couple weeks ago 0:56:23.960 --> 0:56:25.680 the renovations, and this is closer. This is what it 0:56:25.719 --> 0:56:29.200 looks like now. So I'm almost done with it. You know, 0:56:29.280 --> 0:56:31.719 this is going to be so I think of airbnb 0:56:31.760 --> 0:56:35.319 before business uses short term business, uses event space or 0:56:35.360 --> 0:56:37.080 like office spaces, et cetera, et cetera. 0:56:37.880 --> 0:56:39.520 And then this is the other building. This is the 0:56:39.560 --> 0:56:40.120 building down. 0:56:40.040 --> 0:56:41.560 Here in the corner where we've got to gut it 0:56:41.600 --> 0:56:44.279 back to the studs and we're getting ready to bring 0:56:44.320 --> 0:56:46.280 it back. It's probably going to be an event space 0:56:46.320 --> 0:56:48.120 for now, and then we're probably gonna turn Ino a 0:56:48.160 --> 0:56:50.600 coffee shop in a year or two. We had coffee 0:56:50.600 --> 0:56:53.279 shops the original concept. Because of COVID, I don't want 0:56:53.320 --> 0:56:57.360 to take all that additional and additional capital and invest 0:56:57.400 --> 0:57:00.359 in something that may not secure a tenant right way, 0:57:00.680 --> 0:57:02.680 So it's something like event spaces where you just I'm 0:57:02.719 --> 0:57:04.839 just building it back out to basically what they call 0:57:04.880 --> 0:57:08.080 in commercial real estate, just a box, right so white floors, 0:57:08.080 --> 0:57:11.000 white walls, and lighting and open space so people can 0:57:11.000 --> 0:57:12.120 rent it and use it like that and we can 0:57:12.160 --> 0:57:14.600 generate revenue off of it without having to have a 0:57:14.640 --> 0:57:15.600 significant investment. 0:57:16.160 --> 0:57:18.400 So yeah, man, And. 0:57:18.360 --> 0:57:19.840 This is this is what you're talking about Troy, the 0:57:19.840 --> 0:57:23.280 Culture Arts district. So the whole street, this whole street 0:57:23.320 --> 0:57:25.560 with fifth word Community Development Corporation got disapproved to be 0:57:25.560 --> 0:57:26.560 a culture arts district. 0:57:27.880 --> 0:57:28.400 So yeah. 0:57:28.440 --> 0:57:31.400 So and this project, this crowdfunded project, is right here 0:57:31.400 --> 0:57:33.240 in the heart of it, right off of the freeway. 0:57:33.760 --> 0:57:35.720 So that's another upside for. 0:57:36.040 --> 0:57:37.920 Having ownership in this community because there's gonna be a 0:57:37.920 --> 0:57:41.640 lot of uh public money coming into the community now 0:57:41.640 --> 0:57:45.440 because it's a culture arts district. So yeah, man, So 0:57:45.480 --> 0:57:47.160 that's it. That's that's what I got for you. 0:57:47.320 --> 0:57:50.360 That's incredible appreciation. I asked. I asked Chris to put 0:57:50.400 --> 0:57:53.120 together a presentation. I didn't know he was going to 0:57:53.120 --> 0:57:57.440 do a whole that was. That was extremely impressive. 0:57:57.560 --> 0:57:57.760 Man. 0:57:57.840 --> 0:58:00.760 I really, I really, really, really really appreciate that. That was. 0:58:00.800 --> 0:58:02.720 That was extremely extremely impressive. 0:58:03.800 --> 0:58:06.120 Well appreciated man, much appreciated man. 0:58:06.200 --> 0:58:07.520 And trust me, I can go hours on each one 0:58:07.520 --> 0:58:09.520 of those slides, so I try to keep it short. 0:58:10.560 --> 0:58:12.000 Now, you know what the thing about it is, and 0:58:12.000 --> 0:58:13.840 we're gonna go into the best part of the whole 0:58:13.880 --> 0:58:16.480 situation when people get to ask questions and answer the questions. 0:58:16.480 --> 0:58:19.520 But it's like, you know, we're in a political season 0:58:19.600 --> 0:58:22.320 right now, and obviously everybody should go out there and 0:58:22.400 --> 0:58:24.440 vote for, you know, whatever you think is the right 0:58:24.520 --> 0:58:28.640 situation to do. But nobody's coming to save you either way. 0:58:29.440 --> 0:58:32.040 You can't rely on you can't rely on government programs, 0:58:32.440 --> 0:58:36.520 You can't rely on any type of you know, opportunity 0:58:36.680 --> 0:58:40.160 zone government assistance to help build. Like at the end 0:58:40.160 --> 0:58:44.680 of the day, human human nature is self preservation and 0:58:44.840 --> 0:58:50.880 people people are tribal by nature and and and they 0:58:50.920 --> 0:58:54.440 look out for their own tribe. So it's unrealistic to 0:58:54.480 --> 0:58:59.760 expect anybody to come uh better our situation as it 0:58:59.800 --> 0:59:02.080 can unity. This is why we have to do it ourselves. 0:59:02.160 --> 0:59:04.520 So when we just you know, give you the whole 0:59:04.520 --> 0:59:06.880 blueprint about how he built, how he's buying back the 0:59:06.880 --> 0:59:09.760 block in Houston, Texas, He's doing it like hook a crook. 0:59:09.840 --> 0:59:12.080 And the thing about it is like when he when 0:59:12.080 --> 0:59:14.520 he he just laid out like two different things because 0:59:14.560 --> 0:59:17.480 like the first one he did with just private money 0:59:17.600 --> 0:59:21.560 the woman that had the IRA, and then he puts 0:59:21.560 --> 0:59:24.640 some money down. Then the second time he did the crowdfunding. 0:59:24.800 --> 0:59:27.080 So he's given you multiple different Like on that first 0:59:27.080 --> 0:59:28.720 slide where it was like you can do it yourself, 0:59:28.760 --> 0:59:30.720 you can do a bank finance and you could do crowdfunding. 0:59:30.720 --> 0:59:33.280 He's giving you different things and he actually did different things. 0:59:33.320 --> 0:59:36.600 And it's like it's not like he's coming from you know, 0:59:36.720 --> 0:59:38.960 millions of dollars and got a million dollar loan and 0:59:39.040 --> 0:59:40.800 bank loans and all that stuff. It's like we can 0:59:40.880 --> 0:59:43.360 make excuses or we can we can get it done, 0:59:43.400 --> 0:59:46.120 and we can you know, change the direction of our 0:59:46.200 --> 0:59:48.320 of our family and our legacy. And that's what I 0:59:48.320 --> 0:59:50.640 really like about you. It's like you're not making excuses. 0:59:51.120 --> 0:59:53.400 He's just out here just just doing it done. Man, 0:59:53.640 --> 0:59:54.160 get it done. 0:59:54.160 --> 0:59:56.760 We ain't throwing the word legend around lightly. Man, We're 0:59:56.800 --> 0:59:58.600 talking to a real legend. And I'm glad you said 0:59:58.600 --> 1:00:00.800 the opportunities on christ I heard you say something that 1:00:00.840 --> 1:00:03.280 I've never heard before, and we kind of explained what 1:00:03.320 --> 1:00:05.320 opportunities zones well and shout out to our brother MG 1:00:05.400 --> 1:00:05.720 to Mortgas. 1:00:05.800 --> 1:00:07.160 God, we did a whole segment. 1:00:06.800 --> 1:00:09.000 On that, but you said they kind of really don't 1:00:09.040 --> 1:00:11.880 benefit us, obviously because you have to have capital gains. 1:00:11.880 --> 1:00:16.080 But you said something very interesting. You said, earners, what's up? 1:00:16.200 --> 1:00:18.680 You ever walk into a small business and everything just 1:00:18.800 --> 1:00:22.000 works like the checkout is fast, the receipts are digital, 1:00:22.520 --> 1:00:25.479 tipping is a breeze, and you're out the door before 1:00:25.520 --> 1:00:29.640 the line even builds. Odds are they're using Square. We 1:00:29.800 --> 1:00:32.360 love supporting businesses that run on Square because it just 1:00:32.400 --> 1:00:35.640 feels seamless. Whether it's a local coffee shop, a vendor 1:00:35.680 --> 1:00:37.800 at a pop up market, or even one. 1:00:37.680 --> 1:00:38.800 Of our merch partners. 1:00:39.040 --> 1:00:42.840 Square makes it easy for them to take payments, manage inventory, 1:00:42.920 --> 1:00:46.840 and run their business with confidence, all from one simple system. 1:00:47.280 --> 1:00:49.880 If you're a business owner or even just thinking about 1:00:49.960 --> 1:00:53.040 launching something soon. Square is hands down one of the 1:00:53.080 --> 1:00:56.520 best tools out there to help you start, run, and grow. 1:00:56.800 --> 1:00:59.760 It's not just about payments, it's about giving you time 1:00:59.800 --> 1:01:02.840 back so you can focus on what matters most ready. 1:01:02.880 --> 1:01:06.240 To see how Square can transform your business, visit Square 1:01:06.320 --> 1:01:10.840 dot com backslash go backslash eyl to learn more that 1:01:11.040 --> 1:01:16.480 Square dot com backslash, go backslash eyl. Don't wait, don't hesitate. 1:01:16.600 --> 1:01:19.000 Let's Square handle the back end so you can keep 1:01:19.000 --> 1:01:25.120 pushing your vision forward. This episode is brought to you 1:01:25.120 --> 1:01:27.400 by P and C Bank. 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Hiring Indeed is 1:03:03.200 --> 1:03:03.880 all you need. 1:03:04.440 --> 1:03:07.360 The process of moving your business into an opportunity zone 1:03:07.360 --> 1:03:08.080 could benefit us. 1:03:08.080 --> 1:03:09.440 Can you talk about that just a little bit? 1:03:10.520 --> 1:03:15.760 Yeah, so, So the way it works is, well, I 1:03:15.760 --> 1:03:18.120 think you have to acquire a business outside of an 1:03:18.120 --> 1:03:21.040 opportunity zone, or you have to have investors. 1:03:21.520 --> 1:03:23.320 Okay, let me let me back up. 1:03:23.600 --> 1:03:27.040 So, yeah, so if you personally acquire a business that's 1:03:27.040 --> 1:03:29.000 outside of an opportunity zone and then you move it 1:03:29.000 --> 1:03:31.880 into an opportunity zone, you get the same tax benefits 1:03:32.480 --> 1:03:35.560 as the people that are investing in real estate in 1:03:35.600 --> 1:03:41.440 those zones. You can also have investors invest in a 1:03:41.480 --> 1:03:44.800 business for you to buy and then you relocate into 1:03:44.800 --> 1:03:46.800 an opportunity zone and those investors get. 1:03:46.680 --> 1:03:48.000 Those same tax benefits. 1:03:49.160 --> 1:03:51.960 And like you said, opportunity zones aren't really made for 1:03:52.040 --> 1:03:54.600 us because you have to have capital gains. So the 1:03:54.640 --> 1:03:57.680 way that you that you do benefit from it is 1:03:57.720 --> 1:04:00.600 you get investors to invest either in your real estate 1:04:00.800 --> 1:04:01.680 or your businesses. 1:04:01.880 --> 1:04:04.440 Get those those folks that do have capital gains to 1:04:04.480 --> 1:04:07.840 invest in your businesses. And then while you you. 1:04:07.760 --> 1:04:11.080 May get a small portion of the actual returns from 1:04:11.080 --> 1:04:14.600 an investment, you know you you have the ability to 1:04:14.720 --> 1:04:17.360 leverage all of their capital for whatever project you're trying 1:04:17.360 --> 1:04:17.960 to get done. 1:04:18.720 --> 1:04:21.000 There, you have it, So we're gonna jump into it. 1:04:21.040 --> 1:04:22.480 Can you can you hang out with us a little 1:04:22.520 --> 1:04:23.439 bit longer? Yeah? 1:04:23.440 --> 1:04:23.840 Definitely. 1:04:24.000 --> 1:04:26.440 Some question all right, So we're gonna were gonna answer questions. 1:04:26.440 --> 1:04:28.480 So before we do that anybody that came on late. 1:04:28.560 --> 1:04:31.800 So what we're doing right now, if if you're wondering 1:04:31.840 --> 1:04:35.360 why we're doing like this special YouTube live Eyo University 1:04:35.400 --> 1:04:38.560 is a platform that we built and we do weekly webinars. 1:04:38.560 --> 1:04:40.360 We do this like we do classes like this every 1:04:40.360 --> 1:04:43.560 single week and every Wednesday at eight o'clock Eastern Standard 1:04:43.720 --> 1:04:45.720 and the last Wednesday of the month we open it 1:04:45.840 --> 1:04:48.040 up to the public. We put it on YouTube, so 1:04:48.080 --> 1:04:49.920 it's like an open house, like you know, we feel 1:04:49.920 --> 1:04:51.720 like the best way to kind of you know, put 1:04:51.720 --> 1:04:54.280 the product on display is for people to walk through 1:04:54.400 --> 1:04:56.840 try it out right. We have nothing to hide, so 1:04:57.560 --> 1:05:00.200 this is this is just what that is. So and 1:05:00.320 --> 1:05:02.560 outside of this, we do weekly classes. We got the 1:05:02.560 --> 1:05:04.160 book club, we got the movie Club, we got the 1:05:04.240 --> 1:05:06.800 Facebook Investment Group, we got biweekly real estate called an 1:05:06.840 --> 1:05:09.160 MG the mortgage Guy. We got monthly financial planning calls 1:05:09.160 --> 1:05:11.160 with me. So we're really trying to build this out 1:05:11.200 --> 1:05:13.680 and to be like, like I keep saying Phoenix University 1:05:13.720 --> 1:05:15.800 because that's what I think about when I think about 1:05:15.800 --> 1:05:18.960 like online universities. I think, like everybody's kind of heard 1:05:18.960 --> 1:05:21.720 of Phoenix University. But I'm like, why can't eyl University 1:05:21.800 --> 1:05:25.120 be the flag bearer. And the way education is going 1:05:25.200 --> 1:05:28.000 now is like education is the only thing that can 1:05:28.080 --> 1:05:31.280 save you because it's like, you know, you you're trying 1:05:31.320 --> 1:05:33.600 to you know, you try to get a job, and 1:05:33.640 --> 1:05:36.040 it's good luck right now, right And it's like, you know, 1:05:36.160 --> 1:05:39.600 self education, as Mickey Faxx said, formal education can get 1:05:39.640 --> 1:05:41.920 you a portion. Self education can make you a fortune. 1:05:42.000 --> 1:05:43.840 You're not gonna learn any of this stuff in any 1:05:43.880 --> 1:05:44.720 Ivy League school. 1:05:44.760 --> 1:05:45.080 Pick one. 1:05:45.120 --> 1:05:46.520 You're not gonna learn any of this stuff in any 1:05:46.520 --> 1:05:48.600 Ivy League school. That's just a fact. It's not my opinion, 1:05:48.800 --> 1:05:51.480 it's a fact, and that has been told to us 1:05:51.520 --> 1:05:57.080 from hedge fund managers to VC capital firm owners, very 1:05:57.160 --> 1:05:59.480 high level intelligent people. They're like yo, with the information 1:05:59.560 --> 1:06:02.160 that you give. They're not teaching this in Stanford, like 1:06:02.320 --> 1:06:05.120 not at this level where people can understand it. For damn. 1:06:05.120 --> 1:06:08.520 They're free. So if you're interested, Eyo University, like I said, 1:06:08.520 --> 1:06:11.400 this is an open house platform that we do once 1:06:11.440 --> 1:06:15.040 a month and we're running a special promo code forty 1:06:15.080 --> 1:06:18.439 percent off. The price goes up in twenty four hours, 1:06:18.480 --> 1:06:20.600 so eight o'clock tomorrow, but it's three hundred like three 1:06:20.640 --> 1:06:21.840 hundred dollars, hundred and forty dollars. 1:06:22.200 --> 1:06:24.000 Somebody just said that this class itself is worth a 1:06:24.000 --> 1:06:24.920 price for the. 1:06:24.840 --> 1:06:26.520 Whole for the whole time. Yeah, it's like, you know, 1:06:26.520 --> 1:06:28.960 it's like the fact. What can you what can you 1:06:29.000 --> 1:06:30.800 do with that? That's like I said, that's a few 1:06:30.800 --> 1:06:34.360 bottles of sarack, like one bottle of sarrock in the club. 1:06:34.120 --> 1:06:35.280 In the club a fact. 1:06:35.640 --> 1:06:36.160 That's a fact. 1:06:36.520 --> 1:06:38.560 Ain't no theories, ain't no gimmicks. Man, We're giving it 1:06:38.600 --> 1:06:40.400 to you real live from real life people. 1:06:40.480 --> 1:06:42.600 And there's no code because before a lot of people 1:06:42.680 --> 1:06:44.520 was asking about the code it was issued. So for 1:06:44.560 --> 1:06:46.760 twenty four hours we took the code off. But it's 1:06:46.760 --> 1:06:48.680 a special link. You can only use the link in 1:06:48.720 --> 1:06:52.040 the YouTube description or the link that's pinned in YouTube. 1:06:52.480 --> 1:06:54.400 So if you're watching it, that's the only way you 1:06:54.440 --> 1:06:56.320 can get that. It's not on the website. You got 1:06:56.320 --> 1:06:57.840 to go through that link. I'll put it in the 1:06:58.120 --> 1:07:00.520 chat again. But yeah, let's go to my stated part. 1:07:00.600 --> 1:07:03.040 So this is the set. So the classes work like 1:07:03.080 --> 1:07:05.520 this where the presenter comes on and they present PowerPoint 1:07:05.560 --> 1:07:11.040 presentation and then afterwards the public e Yo University members 1:07:11.080 --> 1:07:13.240 gets to ask them questions. And this is my favorite 1:07:13.240 --> 1:07:15.200 part because this is like mentorship in a sense where 1:07:15.200 --> 1:07:17.280 it's like you watch a podcast and that's great, you 1:07:17.280 --> 1:07:20.040 get information, but people have questions. You try to d 1:07:20.200 --> 1:07:21.800 m these people, you know, it's hard for them to 1:07:21.840 --> 1:07:25.120 respond back. So this is the part that actually to 1:07:25.200 --> 1:07:27.080 me is even the best people get a sense of 1:07:27.120 --> 1:07:29.040 this in Market Mondays. But that's just a sense like 1:07:29.320 --> 1:07:31.080 this is what we do every week where people ask 1:07:31.160 --> 1:07:34.120 questions and they actually get to engage with these high 1:07:34.240 --> 1:07:38.600 level educated people. So let's let's get to some questions. 1:07:38.920 --> 1:07:45.000 Shout out to Julian Gordon e Yo professor, a legend 1:07:45.000 --> 1:07:45.600 in his own right. 1:07:45.680 --> 1:07:46.960 That's a fact. That's a fact. 1:07:47.920 --> 1:07:50.520 I'm going to my boys straight out of Houston. Darius, 1:07:50.520 --> 1:07:51.800 I'm mute yourself. You've been unmuted. 1:07:51.840 --> 1:07:56.200 Bro, Hey, what's going on? What's going on in the building? 1:07:56.440 --> 1:07:56.800 Anything? 1:07:56.880 --> 1:07:57.040 Good? 1:07:57.120 --> 1:07:57.280 Man? 1:07:57.560 --> 1:07:59.200 It's good with you, bro man. 1:07:59.280 --> 1:08:00.560 I cannot I'm playing. 1:08:00.600 --> 1:08:03.480 I cannot complain loving the fact that we that we 1:08:03.840 --> 1:08:06.640 went the gentrification and buying back the block route with 1:08:06.680 --> 1:08:10.120 this one. I was definitely happy to uh to hear 1:08:10.160 --> 1:08:12.760 and see see that post right there, man, Chris, how 1:08:12.800 --> 1:08:14.680 you doing? 1:08:13.520 --> 1:08:17.360 I can't complain playing at all. 1:08:18.439 --> 1:08:20.479 I guess my question is is my custom is not 1:08:20.560 --> 1:08:27.040 necessarily general. But as far as gentrification is concerned, you 1:08:27.120 --> 1:08:34.640 spoke a little bit about identifying neighborhoods or zip codes 1:08:34.920 --> 1:08:38.800 or just specific areas that may be ready to go 1:08:38.840 --> 1:08:43.880 through gentrification. I'm in Houston. I'm downtown right now, so 1:08:44.720 --> 1:08:47.599 like the Heights, I'm familiar with the Heights. I live 1:08:47.680 --> 1:08:50.840 near Humble, I'm familiar with Fifth Ward, Third Ward, all 1:08:50.840 --> 1:08:53.400 of that. And I'm driving through this stuff all day 1:08:53.479 --> 1:08:55.719 every day, and I'm seeing exactly what it. 1:08:55.680 --> 1:08:56.679 Is you've done. 1:08:57.200 --> 1:08:58.960 Yeah, I'm seeing. 1:09:01.760 --> 1:09:03.800 If you come from Humble, you see both of my 1:09:03.880 --> 1:09:07.160 projects from the freeway that part. 1:09:07.360 --> 1:09:08.040 So I'm. 1:09:10.320 --> 1:09:15.519 Right over here on Elgin fifty nine and Elgin, or 1:09:15.520 --> 1:09:17.840 we're coming from downtown over the third Ward, like those 1:09:17.840 --> 1:09:21.400 properties that are right there alongside the freeway when they 1:09:21.479 --> 1:09:23.360 was raggedy, I saw him when they knocked them down. 1:09:23.400 --> 1:09:24.760 I saw them when they pinned them up. 1:09:25.479 --> 1:09:27.680 So I'm looking at it and I'm like, Okay, So 1:09:27.720 --> 1:09:31.760 how do I go about identifying areas that are on 1:09:31.800 --> 1:09:35.920 the cusp or already in the process of the gentrification? 1:09:36.439 --> 1:09:38.960 And then as far as getting in on that. I 1:09:39.080 --> 1:09:41.000 like the way that you built that You built that out. 1:09:41.040 --> 1:09:43.720 So my question is is like, you're still doing your 1:09:43.760 --> 1:09:46.080 thing in Houston. So is there an area that I 1:09:46.080 --> 1:09:48.000 can kind of just be like, Okay, this is what 1:09:48.080 --> 1:09:50.360 Chris was talking about right here, man. 1:09:50.640 --> 1:09:52.920 There's tons of it. I mean, you name some of them. 1:09:53.040 --> 1:09:57.200 That Elgin area that's third ward. 1:09:56.080 --> 1:09:56.880 Closer to the TSU. 1:09:56.960 --> 1:10:00.240 You get this opportunities you go south towards Sunnyside out 1:10:00.240 --> 1:10:02.760 of the Medical Center they call it in Sunnyside used 1:10:02.760 --> 1:10:04.400 to be the hood they call it in Medical Center South. 1:10:04.479 --> 1:10:08.080 Now the fifth ward still has a ton of opportunity. Man, 1:10:08.120 --> 1:10:09.880 it's just getting started. Like I said, that big project 1:10:09.880 --> 1:10:12.240 won't even be complete till twenty twenty three. So you 1:10:12.320 --> 1:10:15.280 got three or four neighborhoods right there, all along fifty 1:10:15.360 --> 1:10:18.120 nine that will be primed for you to try to 1:10:18.120 --> 1:10:18.360 get it. 1:10:18.720 --> 1:10:20.560 Can you talk about You spoke about it briefly, but 1:10:20.560 --> 1:10:23.320 you spoke on the podcast. Also city development and urban 1:10:23.360 --> 1:10:24.320 planning websites. 1:10:24.880 --> 1:10:27.600 Yeah, So every city, every city has a planning and 1:10:27.640 --> 1:10:30.080 development department. Some of them call it urban planning. I 1:10:30.080 --> 1:10:31.839 think some of some of them call it planning and development. 1:10:32.479 --> 1:10:36.360 But in that sector of the website, there's always their plans. 1:10:36.360 --> 1:10:39.400 They have five year, ten year, twenty year plans. Some 1:10:39.439 --> 1:10:42.880 of them were posting the different variance requests that are 1:10:42.880 --> 1:10:46.599 coming up for different developer projects, and so on that site, 1:10:46.640 --> 1:10:48.880 you can see where the city is trying to go 1:10:49.000 --> 1:10:51.439 with redevelopment, and you can see where the city is 1:10:51.439 --> 1:10:54.360 planning to reinvest in infrastructure over the next five years 1:10:54.600 --> 1:10:56.680 or ten years. And so that can be a key 1:10:56.720 --> 1:10:59.120 indicator of where you should go as well, because especially 1:10:59.160 --> 1:11:01.280 if it's a city that has the ability to get 1:11:01.280 --> 1:11:02.920 grant money that type of thing, they're going to be 1:11:03.240 --> 1:11:05.240 enticing developers and other people to go in there to 1:11:05.280 --> 1:11:06.720 be that catalyst like. 1:11:06.680 --> 1:11:07.960 The big project I showed y'all. 1:11:08.479 --> 1:11:09.960 And so once you see those types of things, and 1:11:10.080 --> 1:11:12.200 then it's time for you to try to, you know, 1:11:12.280 --> 1:11:13.840 just get in the money flow of what's going on 1:11:13.920 --> 1:11:14.519 in that area. 1:11:14.960 --> 1:11:20.920 So, yeah, Darius, appreciate you, Bro, Houston's own. You didn't 1:11:20.920 --> 1:11:22.720 know it, but I put Beyonce up there for. 1:11:22.680 --> 1:11:25.040 You, so shout out. We got shot out a few 1:11:25.080 --> 1:11:27.160 a few a few of our loyal supporters in Houston, 1:11:27.200 --> 1:11:33.000 Texas from the hip hop side, Toby Way, we had 1:11:33.080 --> 1:11:34.639 him here. We had him on this on the show 1:11:35.000 --> 1:11:36.960 and he's tearing. He's the hottest dude out right now. 1:11:37.000 --> 1:11:38.640 I seen him last night at Hip Hop Awards. He 1:11:38.680 --> 1:11:39.120 did his thing. 1:11:39.160 --> 1:11:42.559 A little Kiki legend. Legend came to our event, came 1:11:42.600 --> 1:11:43.040 to our event. 1:11:43.560 --> 1:11:44.200 Let the airport. 1:11:44.800 --> 1:11:47.920 Jazz Prince reached out to me on Instagram, shout to 1:11:48.080 --> 1:11:49.960 shout out to the whole Prince family. We got crazy 1:11:50.000 --> 1:11:53.680 story about the Prince family. Paul Wall ran into him 1:11:53.680 --> 1:11:54.320 at the airport. 1:11:54.680 --> 1:11:54.800 Yo. 1:11:54.880 --> 1:11:58.120 We were coming to Houston, man we come. Don't forget 1:11:58.360 --> 1:12:01.080 slim Dog. Slim Dog ran in him. Also a shout 1:12:01.080 --> 1:12:01.639 to Slim through. 1:12:01.720 --> 1:12:02.679 We had a crazy weekend. 1:12:03.760 --> 1:12:04.639 Shout out to Manhattan. 1:12:04.720 --> 1:12:04.800 YO. 1:12:04.920 --> 1:12:09.320 That was a crazy week crazy shot. So yeah, I 1:12:09.400 --> 1:12:10.639 just wanted to shy everybody in Houston. 1:12:10.760 --> 1:12:15.040 Shout to Mike brownout Mike Brown, like, yeah, shout out 1:12:15.080 --> 1:12:15.519 to Jazz. 1:12:16.240 --> 1:12:17.960 Yeah yeah from Late Chateau. 1:12:18.320 --> 1:12:19.559 That's the fact. Jazmine, what up? 1:12:19.600 --> 1:12:19.880 What up? 1:12:20.320 --> 1:12:23.800 Uh, let's go to I'm gonna mixture bass me Hope, 1:12:23.840 --> 1:12:25.519 I got that right. I'm mute yourself. You've been unmuted. 1:12:25.560 --> 1:12:26.120 What's going on? 1:12:31.560 --> 1:12:34.639 We know there's no frigerator. Oh, every time I say 1:12:34.720 --> 1:12:36.479 fridge they on. What's going on? 1:12:36.680 --> 1:12:37.280 What's going on? 1:12:38.600 --> 1:12:40.600 Oh yeah, I just want to ask real when you 1:12:40.640 --> 1:12:44.920 did that crowd funded, right, was that with the promise 1:12:44.960 --> 1:12:47.320 of keeping the properties and renting them out or are 1:12:47.320 --> 1:12:48.440 you giving out dividends? 1:12:48.439 --> 1:12:48.880 How is that? 1:12:49.120 --> 1:12:51.360 How are they getting a return on their money? That's 1:12:51.439 --> 1:12:54.960 what platform crowd That's a great question. Yeah. 1:12:54.960 --> 1:12:57.000 So the platform I use is called bottle block dot 1:12:57.040 --> 1:12:59.479 com based on Denver, Colorado. 1:12:59.640 --> 1:13:01.760 But yeah, so they are getting dividend. 1:13:01.360 --> 1:13:03.519 So they what I'm doing is I'm taking forty percent 1:13:03.760 --> 1:13:06.759 of the net profit from the rents and I'm dividing 1:13:06.800 --> 1:13:10.320 that up and I'm sending that out to everybody. And 1:13:10.360 --> 1:13:12.920 so just like getting the dividend, it'll be between like 1:13:13.160 --> 1:13:15.479 two to three percent, like one and a half to 1:13:15.479 --> 1:13:18.080 three percent of the investment amount. But you know, you're 1:13:18.080 --> 1:13:20.800 on Nike stock, you get a one percent dividend, and 1:13:20.880 --> 1:13:23.599 so you know with this you also get the share 1:13:23.680 --> 1:13:26.200 value appreciation because you're not just donating money, you're not 1:13:26.280 --> 1:13:28.920 lending money. You actually bought a piece of ownership of 1:13:28.960 --> 1:13:31.479 this property. So as the property value goes up, your 1:13:31.479 --> 1:13:33.840 share value goes up. And so that's where the real 1:13:33.920 --> 1:13:36.759 return is. And so the way I have the project 1:13:37.240 --> 1:13:39.280 set up. It's supposed to be a seven year project. 1:13:39.400 --> 1:13:41.960 So you know we bought it for one point two 1:13:42.479 --> 1:13:45.120 particularly be worth about three million in about seven years 1:13:45.439 --> 1:13:47.880 and then so you have options to sell your shares 1:13:47.880 --> 1:13:50.880 and get out. We can refinance it and stay in 1:13:50.880 --> 1:13:52.920 and basically everybody can still pull their initial capital out 1:13:52.920 --> 1:13:53.839 they initially invested. 1:13:54.320 --> 1:13:57.920 So that's how it got a structured So appreciate that. 1:13:58.439 --> 1:14:00.280 Sharretta, we coming to you. I hope I said your 1:14:00.360 --> 1:14:02.760 name right, so I read I hope. 1:14:02.720 --> 1:14:04.599 Ready, Yeah, you said it right. 1:14:04.800 --> 1:14:07.000 Here we go, and it was ready right when I 1:14:07.040 --> 1:14:08.439 pressed on you, thank you. 1:14:08.720 --> 1:14:09.559 I was ready to pounce. 1:14:09.640 --> 1:14:10.519 I was ready to pounce. 1:14:10.800 --> 1:14:14.479 Do it Okay, So I just want to say I've 1:14:14.479 --> 1:14:16.920 been with you all you maybe about forty five days, 1:14:16.960 --> 1:14:19.240 and Yo, this is so worthy investment. 1:14:20.880 --> 1:14:22.640 I appreciate, appreciate that. 1:14:22.880 --> 1:14:26.160 Chris is finally nice to see your face because I 1:14:26.200 --> 1:14:28.479 tell you, I'm kicking myself that I did not join 1:14:28.800 --> 1:14:31.120 when you guys had this out on by the block back. 1:14:31.400 --> 1:14:34.120 Oh that'll be more coming. 1:14:35.880 --> 1:14:39.720 But I love the thought process. So one of the 1:14:39.800 --> 1:14:45.760 questions I really had was for someone like myself, I 1:14:45.800 --> 1:14:49.680 actually came across the property about three years ago in 1:14:49.720 --> 1:14:53.120 one of these up and coming neighborhoods. I'm getting ready 1:14:53.120 --> 1:14:56.280 to actually build my first home, and one of my 1:14:56.400 --> 1:14:58.000 things is, you know, I'm kind of torn in the 1:14:58.040 --> 1:15:02.160 fact that you know it is you know, developers are 1:15:02.200 --> 1:15:05.599 coming in that don't necessarily look like us. So what 1:15:05.640 --> 1:15:08.160 advice would you have for someone getting in the game 1:15:08.520 --> 1:15:11.920 that necessarily doesn't have the capitalization to go and buy 1:15:11.960 --> 1:15:15.400 the block and starting out with that one one piece. 1:15:15.160 --> 1:15:15.759 Here or there. 1:15:16.520 --> 1:15:19.920 Yeah, definitely start wherever you can. Yeah, the developers are 1:15:19.920 --> 1:15:22.719 going to come. Like I said, you can't really stop them. 1:15:22.720 --> 1:15:26.200 So you know, some of the other concept we'll talk about, 1:15:26.200 --> 1:15:28.320 maybe like getting a small group of people together to 1:15:28.400 --> 1:15:32.120 co invest with you. You can maybe two or three people 1:15:32.160 --> 1:15:35.559 that may have some money sitting in the old savings 1:15:35.560 --> 1:15:37.599 account of old four one K we. 1:15:37.520 --> 1:15:39.840 Talked about earlier. You can use that as your. 1:15:39.680 --> 1:15:42.240 Down payment and maybe have another partner has good credit. 1:15:42.439 --> 1:15:44.160 You know, if you're going to try to do something, 1:15:44.800 --> 1:15:47.080 I wouldn't say try to start with ground up development 1:15:47.160 --> 1:15:49.360 or new new construction. I would suggest you try to 1:15:49.360 --> 1:15:52.240 buy some you know, something that's in decent condition already. 1:15:53.400 --> 1:15:57.320 Even the new building the right area. If the construction 1:15:58.120 --> 1:16:01.360 and the redevelopment is happening quickly, you can still you 1:16:01.360 --> 1:16:04.160 can still get equity in your home pretty quickly. It 1:16:04.280 --> 1:16:07.120 rather it's an investment that's your primary residence. And would 1:16:07.120 --> 1:16:08.720 also tell people too. It's like if you want to 1:16:08.720 --> 1:16:10.599 be an investor and you want to be a landlorder, 1:16:11.520 --> 1:16:14.200 you got to think about if you're buying something that's existing, 1:16:15.520 --> 1:16:19.200 even if it passes inspection, right, the inspectors only looking 1:16:19.240 --> 1:16:20.160 for things that are wrong. 1:16:20.320 --> 1:16:22.000 But if you've got a house that's. 1:16:22.040 --> 1:16:24.040 Let's say it's twenty years old and they put a 1:16:24.040 --> 1:16:26.080 twenty year well they put a let's say they put 1:16:26.080 --> 1:16:27.920 a thirty year roof on it, you got a plan 1:16:28.040 --> 1:16:29.880 as as as the owner of their property that to 1:16:29.880 --> 1:16:32.080 replace a roof in five or six years or ten 1:16:32.160 --> 1:16:32.599 years max. 1:16:32.760 --> 1:16:34.840 Right, those type of things people don't think about. Whereas 1:16:34.840 --> 1:16:35.320 if you buy a. 1:16:35.240 --> 1:16:37.439 Brand new property in the community like this, but the 1:16:37.479 --> 1:16:39.439 property the values are going up. You know, everything's new, 1:16:39.640 --> 1:16:41.720 so you have a longer runway before you have to 1:16:41.720 --> 1:16:43.200 start investing in repairs. 1:16:43.520 --> 1:16:47.360 So just things to think about. And if you haven't well. 1:16:47.280 --> 1:16:48.920 If you haven't used like your first time home buyer 1:16:49.000 --> 1:16:51.200 credit or anything like that. You can get into something 1:16:51.240 --> 1:16:53.160 with three percent down, and even if you don't want 1:16:53.160 --> 1:16:54.280 to stay in it forever, just stay in it for a 1:16:54.320 --> 1:16:56.200 little while and turn it into an investment property. 1:16:56.680 --> 1:16:58.000 Got right. 1:16:58.000 --> 1:17:01.960 I appreciate thanks about a game, then appreciate you appreciate it. 1:17:02.080 --> 1:17:06.680 First time home boys, you say, yep, And people. 1:17:06.439 --> 1:17:08.639 They watching our journey, like you know, we did trucking 1:17:08.800 --> 1:17:10.759 because we did the trucks with shout out to Alexy. 1:17:11.000 --> 1:17:14.000 So we just brought our first truck and we're gonna 1:17:14.040 --> 1:17:17.479 be like showing people the journey into that. So watch 1:17:17.479 --> 1:17:21.000 what we're doing in Cleveland, Ohio. We got a shout 1:17:21.040 --> 1:17:23.000 to be on Win shout out to big business. Shot 1:17:23.080 --> 1:17:24.320 talk about in Cleveland. 1:17:24.000 --> 1:17:25.920 But but we might come in Houston. 1:17:26.000 --> 1:17:28.479 I'm thinking about Houston, bro. I'm like, yo, bro, we 1:17:28.520 --> 1:17:30.720 got a lot of love out there. I remember we 1:17:30.720 --> 1:17:32.360 was just in a random strip moll eating. They was 1:17:32.400 --> 1:17:33.639 just like, yeoh, we love you out here. 1:17:33.960 --> 1:17:36.160 You know, we got to talk about the prices out there. 1:17:36.320 --> 1:17:37.760 I was about to say, man, I can't. We can't 1:17:37.760 --> 1:17:38.920 compete with those prices up there. 1:17:39.520 --> 1:17:42.080 Cleveland, Cleveland, Ohio. It's different right now. 1:17:42.880 --> 1:17:45.040 We gotta open invitation in Nashville as well. We might 1:17:45.160 --> 1:17:46.760 there's there's there's a couple of cities we might have 1:17:46.800 --> 1:17:47.120 to look at. 1:17:47.200 --> 1:17:48.920 Nashville, Tennessee. Shout out to Nashville. 1:17:49.120 --> 1:17:49.559 Let's see. 1:17:49.760 --> 1:17:52.720 Uh, I haven't seen this thing before, Garth, were coming 1:17:52.720 --> 1:17:53.760 to you, Garth, i'mut yourself. 1:17:53.760 --> 1:17:54.400 You've been unmuted. 1:17:58.360 --> 1:18:01.360 Guys, g Chris. 1:18:01.360 --> 1:18:02.800 Can you tell your value up just a little bit? 1:18:04.600 --> 1:18:18.800 Hold on, They was about to hit you with the gadlines. 1:18:18.320 --> 1:18:21.000 Bro, No, it was coming. 1:18:21.120 --> 1:18:21.799 I was rushing. 1:18:22.320 --> 1:18:26.760 Fabulous presentation, Troy Rashard, you know, fabulous job. Keep up 1:18:26.760 --> 1:18:32.120 the good work, Chris, you know the stuff that you're 1:18:32.160 --> 1:18:35.840 doing there. I'm here thinking, I'm like, dude, we need 1:18:35.880 --> 1:18:38.360 to replicate this across the country, you know what I mean, 1:18:39.439 --> 1:18:42.920 just clone you or you create disciples and just spread 1:18:42.960 --> 1:18:45.000 them across the US and we just do our thing. 1:18:45.720 --> 1:18:48.240 And you know, that's that's. 1:18:48.040 --> 1:18:49.320 What I'm seeing right now. 1:18:50.280 --> 1:18:52.760 I know Julian down in New Orleans, he's doing this 1:18:52.840 --> 1:18:55.360 thing down here as well. I'm saying, we have all 1:18:55.400 --> 1:18:58.679 these resources, man, we need to pull this together. Troy 1:18:58.720 --> 1:19:03.200 and Rashad, you guys, the the the link between you know, 1:19:03.280 --> 1:19:06.440 to pull all this together. You know, create a masterclass 1:19:06.520 --> 1:19:10.120 or something where we get everybody together and put put 1:19:10.160 --> 1:19:13.880 something like this together where we you know, this this 1:19:14.080 --> 1:19:17.439 energy and just replicated across the country and just put 1:19:17.520 --> 1:19:20.400 in different pockets across the country and just do our thing. 1:19:20.479 --> 1:19:20.679 Man. 1:19:21.479 --> 1:19:24.479 Yeah, I mean, like I said, all I wanted to say, 1:19:25.600 --> 1:19:28.160 she appreciated. I appreciate that. Shots that Julian Gordon, He's 1:19:28.160 --> 1:19:31.439 doing something similar in New Orleans, I believe. And of 1:19:31.439 --> 1:19:33.120 course we got Brandon Rule, who's one of the top 1:19:33.160 --> 1:19:35.760 real estate developers in the United States of America right now. 1:19:36.160 --> 1:19:37.400 We got a lot of we got a lot of 1:19:37.439 --> 1:19:38.760 relationships with a lot of good people. 1:19:38.880 --> 1:19:39.040 MG. 1:19:39.120 --> 1:19:41.800 The mortgage guy who's the number one real estate financing 1:19:41.800 --> 1:19:44.800 expert online. So maybe we can, maybe we can form 1:19:44.840 --> 1:19:50.720 a conglomorate Superpower super Pack, ey l super Pack. 1:19:50.840 --> 1:19:52.680 We're coming to take over the neighbor. 1:19:54.240 --> 1:19:55.920 But yeah, Magarth Man, I appreciate the comment. 1:19:55.960 --> 1:19:57.640 Man, But that's exactly why I'm doing this while I'm 1:19:57.680 --> 1:20:01.280 being so transparent with everything, because it's way too much for. 1:20:01.200 --> 1:20:03.040 Me to try to tackle on my own. And I'm 1:20:03.080 --> 1:20:05.840 not I'm not the boastful, bragfull, arrogant guy. I just 1:20:05.880 --> 1:20:06.880 want everybody on the same way. 1:20:07.000 --> 1:20:07.120 Man. 1:20:07.280 --> 1:20:09.800 It was frustrating not seeing enough of us doing this. 1:20:11.040 --> 1:20:13.559 And it's funny. I would be in conversations with all 1:20:13.560 --> 1:20:16.800 of these intellectuals, these Ivy League graduates. 1:20:16.320 --> 1:20:17.880 From our community, and they would tell me why it 1:20:17.880 --> 1:20:20.080 wouldn't work, and eventually I'm just like, I'm just gonna 1:20:20.080 --> 1:20:21.840 do it. I'm just gonna show them that it can't work, 1:20:22.160 --> 1:20:22.360 you know. 1:20:22.520 --> 1:20:23.840 And I think that's what it takes for a lot 1:20:23.840 --> 1:20:25.120 of us just to get to get in there and 1:20:25.160 --> 1:20:25.680 start doing it. 1:20:25.840 --> 1:20:27.680 They keep driving on the highway, They're gonna see what 1:20:27.760 --> 1:20:33.040 you're doing. Is there, right, Wanda, we are coming to you. 1:20:33.120 --> 1:20:34.439 I mute yourself. You've been unmuted. 1:20:34.439 --> 1:20:34.840 What's up? 1:20:35.880 --> 1:20:36.400 Hi, y'all? 1:20:36.400 --> 1:20:38.559 First of all, I love you. I love to show 1:20:38.600 --> 1:20:40.920 on the platform. I've told everybody in my organization. I'm 1:20:40.920 --> 1:20:42.920 twelve hundred people about this, well, the black people. 1:20:46.040 --> 1:20:47.799 We love everybody. 1:20:48.960 --> 1:20:52.439 I have this like pipe dream of building a thriving 1:20:52.439 --> 1:20:55.160 Black community. And I call it a pipe dream because 1:20:55.200 --> 1:20:57.800 I like the strategy that you're talking about in terms 1:20:57.800 --> 1:20:59.479 of going into an area that's on the verge of 1:20:59.479 --> 1:21:03.280 me or gentrification. But I have a question about an 1:21:03.320 --> 1:21:06.519 area like Gary Indiana where and I'm from New York. 1:21:06.560 --> 1:21:08.240 I don't know anything about Gary. It came to me 1:21:08.280 --> 1:21:12.320 in a dream. So Gary, there was white flight and 1:21:12.320 --> 1:21:15.400 then black flight. In the fifties and sixties, industry left 1:21:15.400 --> 1:21:18.920 the place, and right now it's virtually abandoned over the 1:21:18.960 --> 1:21:22.280 past forty years, but slowly but surely, like I heard 1:21:22.360 --> 1:21:24.680 that there's a hotel coming to the beach area and 1:21:24.720 --> 1:21:28.439 there's an investment in building a new school. So my 1:21:28.560 --> 1:21:31.000 question is, what do you think about going into an 1:21:31.040 --> 1:21:35.680 area that is not even quite on the verge of revitalization. 1:21:36.520 --> 1:21:38.360 And buying the block there and. 1:21:38.160 --> 1:21:42.000 Maybe networking with other real estate investors who are black, 1:21:42.560 --> 1:21:46.160 and trying to lure people from Chicago who are thirty 1:21:46.200 --> 1:21:47.880 minutes away. A lot of them left Gary to go 1:21:47.880 --> 1:21:50.640 to Chicago. What do you think about that as a strategy? 1:21:50.760 --> 1:21:52.760 Is it really a pipe dream? Should I move forward 1:21:52.840 --> 1:21:54.800 or should I look for a place that is already 1:21:55.520 --> 1:21:57.479 gentrifying or revitalizing right now? 1:21:58.000 --> 1:22:01.760 That's definitely a risk tiler, it's questioned, okay, because you 1:22:01.800 --> 1:22:03.240 don't know how long it's going to take for that 1:22:03.280 --> 1:22:04.720 to take off. If you can invest in it and 1:22:04.800 --> 1:22:06.760 hold it long enough where it's not. If you got 1:22:06.800 --> 1:22:09.160 money that's not going to hurt you to invest in 1:22:09.160 --> 1:22:10.800 the property and just let it sit there and wait 1:22:10.840 --> 1:22:13.599 for that to happen, then that's that's okay. But if 1:22:13.800 --> 1:22:16.559 you're expecting a quick return on whatever you're about to do, 1:22:16.880 --> 1:22:19.479 I would say go somewhere where the bet is more sure, 1:22:19.600 --> 1:22:21.840 you know where you where you have a more solid 1:22:22.040 --> 1:22:25.000 opportunity to get into whatever you're going to do, make 1:22:25.040 --> 1:22:26.679 some money, and continue to expand. 1:22:27.960 --> 1:22:29.040 I think that happens a lot of times. 1:22:29.120 --> 1:22:32.160 People buy property in the wrong neighborhoods and the values 1:22:32.160 --> 1:22:32.719 don't appreciate. 1:22:32.800 --> 1:22:35.760 Sometimes the values are stagnant or even go down, and you. 1:22:35.760 --> 1:22:37.479 End up losing money if you look at inflation and 1:22:37.520 --> 1:22:39.839 everything else and your cost of like taxes and insurance 1:22:39.880 --> 1:22:40.719 and all that kind of stuff. 1:22:41.080 --> 1:22:43.200 So you got to be really really strategic with that. 1:22:44.280 --> 1:22:47.320 I personally wouldn't suggest it, but if you have the capital, 1:22:47.520 --> 1:22:50.800 do it, then you know it's just it won't hurt ry. 1:22:51.680 --> 1:22:52.240 Thank you so. 1:22:52.280 --> 1:22:57.240 Much, appreciate you. I think that's the question a lot 1:22:57.240 --> 1:22:59.080 of people have, like coming from New York or whatever, 1:22:59.080 --> 1:23:02.639 it's like where it's just the real estate is crazy 1:23:02.680 --> 1:23:04.800 and they want to go to these different towns, but 1:23:04.880 --> 1:23:06.680 it's like you don't know anybody. And the reason why 1:23:06.720 --> 1:23:08.559 I said Cleveland, Ohio is that we really built a 1:23:08.560 --> 1:23:11.240 strong relationship with Beyond when shout out to him, just 1:23:11.280 --> 1:23:14.880 a real solid dude, and you know, that's somebody that 1:23:14.920 --> 1:23:17.759 we trust. And it's like, you know, even Maurice Clorette, 1:23:18.160 --> 1:23:21.080 a good friend of mine, who's out in Columbus, Ohio. 1:23:21.320 --> 1:23:23.240 So you know, I really know like these people are. 1:23:23.240 --> 1:23:25.880 Actually they live out there. They you know, So I'm 1:23:25.880 --> 1:23:28.720 not going to go to anybody's turf and try to 1:23:28.720 --> 1:23:31.280 do the Chrystopher Columbus day and just take over. 1:23:31.680 --> 1:23:33.360 And you know what, that is a great point because 1:23:33.400 --> 1:23:36.000 like those like we're beyond them are there is a 1:23:36.000 --> 1:23:38.320 strong rental market there and there's not enough housing. So 1:23:38.760 --> 1:23:41.200 if that's the business case that you're looking at, then 1:23:41.200 --> 1:23:43.080 you still it still makes sense because you can buy 1:23:43.120 --> 1:23:46.200 the chop the property really really inexpensively and still have 1:23:46.280 --> 1:23:48.559 positive cash flow and make great returns. 1:23:48.600 --> 1:23:51.559 Really, I'll tell you another great place to find people 1:23:51.600 --> 1:23:54.599 that are from other places inside the investment group. I'm 1:23:54.600 --> 1:23:56.680 telling you, like every time that somebody posts like yo, 1:23:57.080 --> 1:23:59.760 hey I live in Houston, is there anybody that is 1:24:00.160 --> 1:24:00.920 developing Houston. 1:24:00.960 --> 1:24:03.240 It's a great resource. Yo, Is there anybody in Cleveland? 1:24:03.560 --> 1:24:04.000 Every day? 1:24:04.040 --> 1:24:05.720 I see it like somebody from another part of the 1:24:05.760 --> 1:24:08.800 country is like, Yo, anybody here in this area. It's 1:24:08.840 --> 1:24:10.600 a great way to network and a great way to 1:24:10.680 --> 1:24:13.880 resource and come together. Right if I'm not from Gary, 1:24:13.960 --> 1:24:16.920 I'm guaranteeing out of the five thousand almost six thousand people, 1:24:17.280 --> 1:24:18.360 somebody knows the area. 1:24:18.560 --> 1:24:21.160 And Matt Matt was doing He's going to bring it back, 1:24:21.160 --> 1:24:23.439 but he was doing the city right each city, so 1:24:23.479 --> 1:24:25.880 he did. Like the real estate updates for the Bay Area, 1:24:25.920 --> 1:24:28.000 the real estate updates for Houston, and real estate updates 1:24:28.000 --> 1:24:30.840 for Philly. Those are good resources too because it's like 1:24:30.920 --> 1:24:33.600 now that's specific for that area. So even if you 1:24:33.600 --> 1:24:36.920 don't live in Philly, but you're interested in Philadelphia real estate, 1:24:37.240 --> 1:24:39.240 you can network. It's all about network. And that was 1:24:39.280 --> 1:24:41.559 my whole point, is that it's just about networking. And 1:24:41.600 --> 1:24:43.760 I feel like, you know, a lot of times what's 1:24:43.760 --> 1:24:46.439 stopping us is the relationships. And that's another thing that 1:24:46.479 --> 1:24:49.160 we built with the university. It's just relationships, but just 1:24:49.200 --> 1:24:51.280 in general, just in life, like you might have a 1:24:51.280 --> 1:24:52.800 family member, you ain't have a cousin you might have 1:24:52.840 --> 1:24:54.280 to You know, you never know who you're going to 1:24:54.439 --> 1:24:57.760 meet or get introduced to. But relationships can take you 1:24:57.800 --> 1:24:59.639 a long long way. You can have all the knowledge 1:24:59.640 --> 1:25:02.160 in the world, but if you don't have the relationships, 1:25:02.200 --> 1:25:05.680 you might not be able to execute. So it's relationships 1:25:05.680 --> 1:25:08.080 that are extremely extremely important in my opinion. 1:25:08.840 --> 1:25:11.120 Bianca, were coming to you, I'm mute yourself. You've been unmuted. 1:25:11.200 --> 1:25:11.559 What's up? 1:25:12.520 --> 1:25:12.760 Hi? 1:25:12.840 --> 1:25:13.439 How you doing? 1:25:13.840 --> 1:25:15.960 Of how fasty I was forming? Everything's great. 1:25:17.200 --> 1:25:22.240 I just didn't expect that to happen. So my question 1:25:22.320 --> 1:25:25.040 is probably very similar to one of the first questions, 1:25:25.040 --> 1:25:26.439 but I never get to get on, so I'm just 1:25:26.439 --> 1:25:31.559 going to say it. So, just about the opportunity zoned. So, 1:25:31.720 --> 1:25:34.360 I'm from Augusta, Georgia, and I moved to Minneapolis five 1:25:34.439 --> 1:25:36.880 years ago, and I noticed North Minneapolis is like one 1:25:36.920 --> 1:25:43.000 of the most undeveloped, neglected places in Minneapolis. But I 1:25:43.120 --> 1:25:45.880 just read something today about the city planning to put 1:25:45.880 --> 1:25:50.320 a concert venue up there. They they're getting like millions 1:25:50.320 --> 1:25:53.880 of dollars. Would you consider this like a opportunity zone? 1:25:54.920 --> 1:25:58.520 Well, so, an opportunity zone is actually a government designation 1:25:58.840 --> 1:26:03.720 for specific namesihborhoods that have like specific low income demographic 1:26:04.520 --> 1:26:06.880 or like then they have like usually issues like food 1:26:06.880 --> 1:26:08.880 desert words, no grocery stores and those types of things. 1:26:09.320 --> 1:26:11.480 And so those zones were created. 1:26:12.640 --> 1:26:16.160 To uh to kind of pinpoint areas where the government 1:26:16.200 --> 1:26:19.400 wanted these high networks people or people that have capital 1:26:19.400 --> 1:26:23.000 gains to invest and park their money for up to 1:26:23.040 --> 1:26:27.479 ten years in exchange for getting a tax abatement basically 1:26:27.520 --> 1:26:31.519 a tax deferment, and like whatever whatever they buy over 1:26:31.560 --> 1:26:36.800 the ten years, they they actually can like sell it 1:26:36.800 --> 1:26:38.240 at the end and not pay any taxes on that 1:26:38.280 --> 1:26:38.599 at all. 1:26:39.960 --> 1:26:41.640 So I'm not sure if that you'd have to. 1:26:41.840 --> 1:26:44.439 You can really just google opportunities on map and it'll 1:26:44.479 --> 1:26:46.720 tell you if that area is an opportunity zone or not, 1:26:47.439 --> 1:26:49.439 and then it sounds like something that that may be 1:26:49.479 --> 1:26:51.439 a catalyst for other development to come around it. So 1:26:51.479 --> 1:26:53.960 I would definitely I would stay tuned to see what's 1:26:53.960 --> 1:26:56.880 going on. If you know any realtors anybody that may 1:26:56.880 --> 1:26:58.840 be in that that may know that market, I would 1:26:58.840 --> 1:27:01.120 say you suggest you just talk to them to see 1:27:01.120 --> 1:27:04.160 if they know of any realtors that represent builders in 1:27:04.240 --> 1:27:07.400 new construction that because if those builders are looking at 1:27:07.400 --> 1:27:09.280 that area, and that tells you that things are about 1:27:09.320 --> 1:27:09.760 to pick up. 1:27:10.280 --> 1:27:13.760 Okay, thank you, Yeah, you know, I just thought about 1:27:13.760 --> 1:27:18.800 something we're gonna do, Janet, Hopefully you can help us 1:27:18.840 --> 1:27:23.479 out with this. We have almost four thousand members in 1:27:23.560 --> 1:27:28.760 our private our private investment group on Facebook, so we 1:27:28.800 --> 1:27:33.720 should we could. We can set up geographical groups like 1:27:33.760 --> 1:27:35.160 we can have a New York group, we can have 1:27:35.160 --> 1:27:37.040 an LA group, we can have affiliate like that means, 1:27:37.080 --> 1:27:41.120 so that way people can they can identify themselves by 1:27:41.439 --> 1:27:44.040 like where they actually live. And like I said, even 1:27:44.080 --> 1:27:45.800 if you don't live, So even if you live in 1:27:45.800 --> 1:27:48.519 New York, what you might be interested in Houston real estate. 1:27:49.000 --> 1:27:51.960 If there's three hundred people from Houston in a Houston group, 1:27:52.400 --> 1:27:54.120 now you can network with them, and that gives you 1:27:54.160 --> 1:27:56.920 three hundred people that you can actually, you know, reach 1:27:56.960 --> 1:28:02.000 out to and build with. So we're gonna get that done, Jenny. 1:28:03.120 --> 1:28:05.880 I guarantee by seven o'clock, I'm gonna have fourteen text 1:28:05.960 --> 1:28:07.320 visits shot, he said. 1:28:08.280 --> 1:28:10.120 He said, I appreciate that. 1:28:11.760 --> 1:28:14.120 Ah Man, Let's go to a new name. Oh, Whitney, 1:28:14.200 --> 1:28:15.920 I haven't seen this thing before. Whitney, what's going on? 1:28:16.080 --> 1:28:17.200 Mute yourself. You've been unmuted. 1:28:17.800 --> 1:28:21.360 Hey, guys, thanks for this, uh this awesome information. I appreciate. 1:28:21.400 --> 1:28:24.000 I appreciate everything that e Yl is bringing to the table. 1:28:24.040 --> 1:28:26.120 And I'm a newbie. I've only been a member of 1:28:26.120 --> 1:28:28.920 about about a month or so, but I'm really happy 1:28:28.960 --> 1:28:31.160 to be welcome to appreciate that. 1:28:31.200 --> 1:28:33.360 Bro. I got a message for Chris. 1:28:34.400 --> 1:28:38.599 I serve on the political side and the community side 1:28:39.160 --> 1:28:44.719 for a lot of housing agencies or community redevelopment boards 1:28:44.720 --> 1:28:47.639 and economic development boards. And I do that, as I said, 1:28:47.680 --> 1:28:51.200 and actually put my question in the thing, just so 1:28:51.240 --> 1:28:53.000 I can be at the table and hear about deals 1:28:53.000 --> 1:28:55.479 that are coming down and actually bring it back to 1:28:55.520 --> 1:28:58.320 our community. But I get a lot of pushback from 1:28:58.360 --> 1:29:02.720 our community because mostly I think because they just they 1:29:02.840 --> 1:29:06.040 see that their communities are being changed and they feel 1:29:06.080 --> 1:29:09.840 helpless to get involved or helpless to do anything about 1:29:09.840 --> 1:29:12.559 it because they don't have the financial wherewithal to do anything. 1:29:13.280 --> 1:29:14.639 What What are. 1:29:14.560 --> 1:29:17.200 Some strategies that you've used or that you've seen used 1:29:17.200 --> 1:29:21.240 that actually help to engage local communities, particularly our community 1:29:21.240 --> 1:29:24.600 black people and bring them along through this process. 1:29:25.200 --> 1:29:25.360 Man. 1:29:25.400 --> 1:29:29.080 You know it's tough. I mean, I thankfully the projects 1:29:29.080 --> 1:29:31.040 that I have. They kind of see something different. They 1:29:31.040 --> 1:29:34.000 see that I'm not displacing people, but for the for 1:29:34.040 --> 1:29:38.920 the a lot of times people are just adverse to change, right, 1:29:39.960 --> 1:29:42.200 So I think the best thing that you could do 1:29:42.320 --> 1:29:47.360 probably would be to bring in a group of investors, 1:29:47.400 --> 1:29:49.840 if you know, a group of investors or developers that 1:29:50.320 --> 1:29:52.439 may be of the right mindset, and have them come 1:29:52.479 --> 1:29:53.480 and talk to the community. 1:29:53.840 --> 1:29:56.120 And you know, if you if. 1:29:56.000 --> 1:29:57.720 You know where the projects are going and you know 1:29:57.760 --> 1:30:00.479 what's coming, put put that group in in front of 1:30:00.479 --> 1:30:03.880 the projects and let them, you know, interface with the 1:30:03.920 --> 1:30:06.680 community and kind of bring some of the amenities and 1:30:06.720 --> 1:30:09.160 services of the community may be looking for, or explain 1:30:09.240 --> 1:30:11.200 to them why it's not the right time for certain things. 1:30:11.240 --> 1:30:13.479 Like you know, a lot of the communities, like like 1:30:13.520 --> 1:30:16.160 I said, they will want the grocery store now, and 1:30:16.200 --> 1:30:17.960 they'll want this and that now, but they don't want 1:30:18.000 --> 1:30:20.160 the new housing, you know, and you have to explain 1:30:20.200 --> 1:30:21.519 to them, well, this is why you need that, This 1:30:21.560 --> 1:30:23.240 is why you need some. 1:30:23.200 --> 1:30:24.760 People that look like you in the community, that earn 1:30:24.800 --> 1:30:25.840 more money, so. 1:30:25.760 --> 1:30:28.000 That it can be attractive for Starbucks or it can 1:30:28.080 --> 1:30:30.760 be attractive for the grocery store to come back. So 1:30:30.800 --> 1:30:34.000 a lot of it's just open communication, but there is 1:30:34.040 --> 1:30:35.000 no cookie cutter answer. 1:30:35.000 --> 1:30:35.160 Man. 1:30:35.640 --> 1:30:38.040 You're never going to get everybody on board, unfortunately, but 1:30:38.160 --> 1:30:40.040 I mean, you know, you can kind of turn the 1:30:40.080 --> 1:30:41.799 tide a little bit by doing some of those things. 1:30:42.120 --> 1:30:44.439 True, true, I appreciate that. Guys, thank you very much. 1:30:44.600 --> 1:30:50.160 We appreciate you. Oh, here we go, my guys. Here 1:30:51.280 --> 1:30:55.639 Arthur all rise King, Arthur, you've been unmuted peace Peace 1:30:55.800 --> 1:30:57.360 was good fellas. What's going on? 1:30:57.439 --> 1:30:59.800 Bro? Slow motion? How you're doing? 1:31:00.120 --> 1:31:02.960 Yeah, we're good man doubt a. 1:31:03.400 --> 1:31:05.120 Chris Man definitely a big fan. 1:31:05.240 --> 1:31:09.080 I'm actually an investor in the in the Lions Avenue project. 1:31:09.240 --> 1:31:11.440 I love it. Yeah. 1:31:11.600 --> 1:31:14.519 When I actually right right before right as COVID hit 1:31:14.600 --> 1:31:17.040 I got, I got into the project and I joined 1:31:17.040 --> 1:31:18.840 E y L. That was kind of how I split 1:31:18.880 --> 1:31:26.040 the bread up for so definitely looking forth, definitely a 1:31:26.040 --> 1:31:28.919 big fan. Been following the Mad project as well. Congrats 1:31:28.960 --> 1:31:35.559 on that. As we talk about building the community. One 1:31:35.560 --> 1:31:39.000 of one of the things that you mentioned, uh with 1:31:39.040 --> 1:31:40.920 the with the project, that you said, you know, most 1:31:41.000 --> 1:31:43.400 none of those houses were like Section eight houses and 1:31:43.400 --> 1:31:46.520 stuff like that, those are all pretty much working class individuals. 1:31:47.160 --> 1:31:51.920 That being said, Section eight is like one of the 1:31:52.040 --> 1:31:55.960 largest subsidies our community gets, like literally it's about eight 1:31:56.040 --> 1:31:59.360 billion dollars a year, and the majority of that money 1:31:59.439 --> 1:32:02.320 goes to black women, as we know, who are generally 1:32:02.360 --> 1:32:07.000 that had a household for those communities. So as you're 1:32:07.040 --> 1:32:09.680 building your plans and as you know, you speak on 1:32:09.760 --> 1:32:13.519 others and how they should expand how do you view 1:32:13.680 --> 1:32:15.360 or what ways do you think that we have to 1:32:15.479 --> 1:32:19.200 actually include that so we don't walk away literally from 1:32:19.760 --> 1:32:22.519 eight billion dollars a year that now is going to 1:32:23.320 --> 1:32:26.439 other people who own that affordable housing to a certain degree, 1:32:26.479 --> 1:32:30.519 because our own people are scared or don't want to 1:32:30.600 --> 1:32:33.120 deal with those Section eight housing. 1:32:34.439 --> 1:32:34.679 Yeah. 1:32:34.720 --> 1:32:36.519 So yeah, one let me point out the reason why 1:32:36.800 --> 1:32:39.960 I pointed that out earlier is for the opposite reason, right, 1:32:40.000 --> 1:32:42.920 because well, we automatically assume everybody in these neighborhoods is 1:32:42.960 --> 1:32:46.799 all strictly on government assistance, but there are some people 1:32:46.840 --> 1:32:50.759 that are just hardworking that you know, all fixed incomes. Now, 1:32:50.880 --> 1:32:53.599 as far as the you know, the single women especially 1:32:53.720 --> 1:32:57.400 or anybody that's on Section eight, I think that with 1:32:57.520 --> 1:33:00.240 the right landlords in place, and I think it can 1:33:00.240 --> 1:33:02.800 actually be a better system because you know, if we 1:33:02.840 --> 1:33:04.840 are the ones controlling the real estate and own the 1:33:04.840 --> 1:33:07.080 real estate, and those are our tenants, then we'll probably 1:33:07.120 --> 1:33:09.400 look out for them a little bit more than somebody 1:33:09.439 --> 1:33:12.000 else that's you know, living across the country or living 1:33:12.000 --> 1:33:14.480 in another neighborhood that doesn't really care about the community. 1:33:15.360 --> 1:33:17.920 But most importantly, when you talk about a way to 1:33:18.520 --> 1:33:22.000 leverage home ownership that we don't really talk about those 1:33:22.080 --> 1:33:25.160 those vouchers can be used for mortgage payments, just like 1:33:25.200 --> 1:33:28.640 they can be used for really so educating more of 1:33:28.640 --> 1:33:30.760 the people in our community about how to get their 1:33:30.760 --> 1:33:33.719 credit together to get into a first time home buyers 1:33:33.760 --> 1:33:37.439 program and get a down payment assistance grant and then 1:33:37.479 --> 1:33:40.240 convert that same voucher over to something that can help 1:33:40.240 --> 1:33:42.160 pay the mortgage. We can create more home ownership in 1:33:42.200 --> 1:33:44.000 the community using that same. 1:33:43.800 --> 1:33:47.639 Tool, so so so in a way, for those who 1:33:47.680 --> 1:33:50.360 are looking how to replicate what you're doing on a 1:33:50.439 --> 1:33:53.519 smaller scale, one of the things they can do is 1:33:53.880 --> 1:33:58.000 look to take advantage of those government programs and using their. 1:33:57.880 --> 1:33:59.880 Own home buying i e. 1:34:00.160 --> 1:34:05.040 Matt's home bias home buyers, or you know, using those 1:34:05.040 --> 1:34:07.400 types of things in their own personal lives to to 1:34:07.680 --> 1:34:09.720 kind of replicate on a micro scale what you're doing 1:34:09.760 --> 1:34:10.679 at the macro level. 1:34:11.000 --> 1:34:13.519 Definitely, definitely, And that's actually a way for people that 1:34:13.600 --> 1:34:15.559 have existing rental portfolios if they want to get out 1:34:15.600 --> 1:34:17.200 of them. A lot of people are converting over to 1:34:17.240 --> 1:34:20.920 owner finance, so so basically the same tenant stays in 1:34:20.960 --> 1:34:24.040 the property, but now they're they are buying the property, 1:34:24.080 --> 1:34:26.200 so now they're responsible for the insurance and the taxes 1:34:26.600 --> 1:34:27.360 and all those things. 1:34:27.360 --> 1:34:29.040 So if you have a Section eight tenant in it's 1:34:29.040 --> 1:34:29.479 a house that. 1:34:29.439 --> 1:34:31.000 You don't want to get, you know, you may not 1:34:31.000 --> 1:34:32.680 want to keep in your portfolio, you could actually sell 1:34:32.680 --> 1:34:35.680 it to them. Yeah, and create a homeowner out of 1:34:35.720 --> 1:34:37.320 one of your tenants, especially if they've been loyal, long 1:34:37.400 --> 1:34:37.920 term tenants. 1:34:37.920 --> 1:34:38.120 You know. 1:34:39.120 --> 1:34:42.000 It's it's it's a million ways to uh to make 1:34:42.000 --> 1:34:43.360 that program benefit us more. 1:34:44.400 --> 1:34:45.120 I appreciate it. 1:34:45.160 --> 1:34:47.760 Brother, Thank you often. One last I just want to 1:34:47.760 --> 1:34:49.439 ask you a question because you're one of our most 1:34:49.439 --> 1:34:53.800 prestigious students at euy L University and you always tap 1:34:53.840 --> 1:34:56.639 into every single thing we got going. Uh, how how 1:34:56.680 --> 1:34:58.959 has your experience been with EYO University. 1:34:59.479 --> 1:35:02.400 It's been It's been fabulous, man, it's been fabulous. I listen. 1:35:02.439 --> 1:35:05.640 I went to a prestigious all boys prep school in 1:35:05.720 --> 1:35:09.640 high school, Avon Old Farms. I could have went to 1:35:09.680 --> 1:35:11.559 all most of them in the ivy leagues, I end 1:35:11.640 --> 1:35:13.720 up going to George Washington University. 1:35:14.280 --> 1:35:17.680 You know, that's very prestigious school, absolutely, you know what 1:35:17.720 --> 1:35:18.000 I mean. 1:35:18.520 --> 1:35:22.240 However, in terms of the actual practical knowledge that I 1:35:22.320 --> 1:35:25.280 learned outside of me just working and doing the things 1:35:25.320 --> 1:35:27.479 that I did in my career, I would say this 1:35:27.560 --> 1:35:32.760 has definitely been one of the most comprehensive education platforms 1:35:32.760 --> 1:35:34.000 that I've ever been a part of. 1:35:34.240 --> 1:35:36.160 You know what I mean. You guys brought me to Chris. 1:35:36.200 --> 1:35:39.640 You guys brought me to Matt, you brought me to Beyond, 1:35:39.800 --> 1:35:42.720 you know what I mean. And so in terms of 1:35:42.800 --> 1:35:47.719 actually executing and getting things done, there's there's there's nothing better, 1:35:47.800 --> 1:35:49.519 you know what I mean. I was an econ major, 1:35:49.560 --> 1:35:52.280 I was a finance major, all of that stuff, and 1:35:52.479 --> 1:35:55.920 it doesn't come close to the practical knowledge, all of 1:35:55.920 --> 1:35:56.479 that stuff. 1:35:56.240 --> 1:35:57.360 That they're gonna teach you in the schools. 1:35:57.400 --> 1:36:02.519 You can go google that, but there's no get it done, this, this, this, this, uh, 1:36:02.600 --> 1:36:06.000 you know, get the seller financing and transfer that into 1:36:06.360 --> 1:36:09.040 into a private investment for the I R Ray and 1:36:09.080 --> 1:36:14.000 then transfer getting it done. They're not gonna teach you 1:36:14.040 --> 1:36:17.120 that at Harvard and nowhere else. At Harvard, they're gonna 1:36:17.160 --> 1:36:19.679 teach you the exact opposite of what Chris is teaching. 1:36:19.680 --> 1:36:22.240 They're gonna teach you how to ultimately rape your community. 1:36:22.560 --> 1:36:24.240 Chris is gonna teach you how to get it done 1:36:24.320 --> 1:36:27.280 and get the bag. So I appreciate you fellas for it. 1:36:27.320 --> 1:36:30.479 I always participate. I'll always speak highly and you know, 1:36:30.600 --> 1:36:32.559 I appreciate you guys for always letting. 1:36:32.400 --> 1:36:37.519 Me rock appreciating author, appreciate that most prestigious author. 1:36:37.600 --> 1:36:40.880 Man's extremely extremely intelligent. God Man Market used to be 1:36:40.880 --> 1:36:42.080 a market maker on Wall Street. 1:36:43.680 --> 1:36:46.640 That's our guy. This is another one of our of 1:36:46.720 --> 1:36:50.120 our dudes. Man Park, what's going on? I'mut yourself, what's 1:36:50.160 --> 1:36:52.080 going on Sunday? 1:36:52.120 --> 1:36:53.280 Bro Man? 1:36:53.920 --> 1:36:59.720 I was struggling with us. Now, No, I'm making sure 1:36:59.720 --> 1:37:02.240 I'm back. I was like, I ain't never missed another 1:37:02.320 --> 1:37:08.880 episode ever. God Yeah, No, thanks for all the information, Chris. 1:37:09.000 --> 1:37:13.479 I just had just one, you know, short question. Throughout 1:37:13.479 --> 1:37:15.960 the whole process that you've done, what would you think 1:37:16.080 --> 1:37:18.400 is like the hardest step. 1:37:18.200 --> 1:37:20.200 That you have to take? Like before you got to 1:37:20.280 --> 1:37:22.639 where you're at right now, man. 1:37:22.560 --> 1:37:25.320 I would say, every every step has its own challenges. 1:37:27.320 --> 1:37:31.040 I would say the most the most difficult things I 1:37:31.080 --> 1:37:34.080 had going was when I was trying to figure things 1:37:34.120 --> 1:37:36.160 out on my own and not find somebody that was 1:37:36.240 --> 1:37:38.000 an expert at what I was trying to get done 1:37:38.000 --> 1:37:40.360 and putting them in place to do something to help 1:37:40.360 --> 1:37:40.679 me out. 1:37:41.280 --> 1:37:43.760 So, I mean, that's really been the biggest thing, man. 1:37:44.479 --> 1:37:47.160 I would say with the new construction project, like the 1:37:47.240 --> 1:37:51.880 roadblock with the infrastructure was pretty tough, and having to 1:37:51.960 --> 1:37:54.000 negotiate with the city to figure out, you know, a 1:37:54.000 --> 1:37:58.240 solution for that. And let me think on the on 1:37:58.280 --> 1:38:00.200 the crowdfund side, I think that the hardest part is 1:38:00.240 --> 1:38:02.040 getting the deal done on the front and just negotiating 1:38:02.040 --> 1:38:04.680 with the sellers and making them understand, you know, why 1:38:04.720 --> 1:38:06.400 I needed them to come down on price and why 1:38:06.400 --> 1:38:07.840 I needed them to sell their finance to me. 1:38:09.000 --> 1:38:11.200 But yeah, I mean every everything, every deal you do, 1:38:11.240 --> 1:38:14.400 you're gonna have a different challenge, So just be prepared 1:38:14.400 --> 1:38:14.720 for that. 1:38:15.560 --> 1:38:16.200 Appreciate you. 1:38:16.240 --> 1:38:18.360 Pop shout out to Chicago man, Chris, can we get 1:38:18.360 --> 1:38:20.519 like ten more minutes of your time? Yeah? Yeah, let's 1:38:20.520 --> 1:38:24.520 go somebody on YouTube shot yes to real estate. They 1:38:25.200 --> 1:38:28.760 sent a couple of days. You read that message? No, 1:38:28.800 --> 1:38:32.080 I know Andre, Yes, okay, okay, y yay, said is Andre, 1:38:32.640 --> 1:38:35.880 yes to real estate. We're breaking ground on our four 1:38:36.000 --> 1:38:39.639 townhousing fifth Ward two months were three blocks from you. 1:38:39.800 --> 1:38:42.320 So yeah, yeah, you're taking over the whole. That's taking 1:38:42.360 --> 1:38:43.160 over the whole neighborhood. 1:38:43.160 --> 1:38:45.000 I love it and I love it definitely, definitely. 1:38:45.160 --> 1:38:46.759 Well, listen, what's going on? You've been unmuted. 1:38:47.400 --> 1:38:48.479 Hi, how are you guys? 1:38:48.840 --> 1:38:49.880 Everything's good. 1:38:50.360 --> 1:38:53.360 Thank you so much for having this open forum has 1:38:53.400 --> 1:38:56.080 been very informative. I got on a little late, but 1:38:56.439 --> 1:38:59.720 I will rewatch. I did want to ask Christopher a 1:38:59.760 --> 1:39:05.439 question uestion about buying back Harlm and what do you suggest. 1:39:05.479 --> 1:39:08.320 I'm born and raised here. I've been approached with a 1:39:08.360 --> 1:39:11.120 lot of negativity and in terms of trying to open 1:39:11.200 --> 1:39:13.920 up a business. However, a lot of businesses have closed 1:39:14.000 --> 1:39:16.280 due to COVID, and I just kind of wanted to 1:39:16.320 --> 1:39:18.000 know a way on how to approach that. 1:39:19.400 --> 1:39:22.720 Wow, that's a very There's a lot of variables in 1:39:22.760 --> 1:39:26.200 that equation, right, because number one, the type of business 1:39:26.240 --> 1:39:29.439 you're going to want to start, and then when you 1:39:29.439 --> 1:39:31.080 see a bunch of business is closing, don't think it's 1:39:31.080 --> 1:39:34.559 for no reason. You know, they're closing because they tried 1:39:34.560 --> 1:39:37.200 to stay open and they couldn't. Now, I mean, of 1:39:37.240 --> 1:39:38.920 course that is going to open a new way of 1:39:38.960 --> 1:39:44.040 opportunity on the backside. But I'm not really familiar with 1:39:44.120 --> 1:39:46.800 the Harlem market or like the price points there, so 1:39:46.840 --> 1:39:49.080 I wouldn't want to give you any bad advice. It's 1:39:49.160 --> 1:39:54.639 not cut her blanket across the board. So I would say, 1:39:55.880 --> 1:39:59.720 maybe do what I would do in any situation. That's 1:39:59.720 --> 1:40:03.400 fine local experts that are doing what you're trying to do. 1:40:04.120 --> 1:40:09.400 Maybe talk to a commercial broker that has clients that 1:40:09.479 --> 1:40:13.240 have bought businesses or rented spaces to start businesses and 1:40:13.280 --> 1:40:16.760 have closed those businesses and find out what challenges their 1:40:16.760 --> 1:40:19.000 clients had and then figure out. 1:40:18.840 --> 1:40:19.760 You know, your next move. 1:40:19.880 --> 1:40:22.840 So yeah, don't don't go into it blindly. Don't don't 1:40:22.840 --> 1:40:25.240 go into it trying to figure out your own for sure. 1:40:25.560 --> 1:40:27.080 I'm gonna be honest, And it's like, you know, we 1:40:27.120 --> 1:40:28.559 live in New York. We've been in New York our 1:40:28.680 --> 1:40:31.080 entire lives. Our whole family has been in New York, 1:40:31.120 --> 1:40:34.679 their entire lives. Pretty much. You know. I was always 1:40:34.720 --> 1:40:38.880 really pro New York. I still am, you know, but 1:40:39.200 --> 1:40:42.360 the more I travel, I've been traveling a lot lately, and. 1:40:44.640 --> 1:40:45.160 Don't do it. 1:40:45.200 --> 1:40:48.639 Don't do it, don't do it, don't do it, an it, don't. 1:40:48.439 --> 1:40:50.639 Do it now. The one thing that Donald Trump said 1:40:50.760 --> 1:40:52.320 is like, I don't know if the city's ever really 1:40:52.360 --> 1:40:55.200 gonna fully recover. And it's so much regulation, it's so 1:40:55.280 --> 1:40:58.240 much red tape, it's so much hassle. The prices are 1:40:58.280 --> 1:41:01.479 through the roof in every neighborhood. It's just really, you know, 1:41:01.640 --> 1:41:04.759 for me, I'm like, you go to places like Atlanta, 1:41:04.800 --> 1:41:09.280 you just travel around and it's I don't know, man, 1:41:09.439 --> 1:41:15.400 New York City is it's vastly becoming overrated. It hurts 1:41:15.400 --> 1:41:17.240 my heart to say that. It really hurts my heart 1:41:17.280 --> 1:41:19.840 to say that. But it's it's it's I think it's. 1:41:19.920 --> 1:41:20.639 I think it's true. 1:41:21.400 --> 1:41:22.920 I appreciate that you said that. 1:41:23.320 --> 1:41:26.080 It's it's it's it's challenging times for our city, man, 1:41:26.120 --> 1:41:33.519 but hopefully we're covering. Hopefully. Maybe not. I I'm just optimistic. 1:41:33.560 --> 1:41:34.840 I'm wonnat be optimistic about it. 1:41:35.520 --> 1:41:40.519 Uh, head to Atlanta. 1:41:39.760 --> 1:41:42.920 Jerome, Jerome. I mute yourself you've been unmuted. What's going on? 1:41:44.680 --> 1:41:44.840 Yo? 1:41:44.920 --> 1:41:46.000 What up? What up? What up? 1:41:46.040 --> 1:41:47.120 Man? What's going on? 1:41:48.760 --> 1:41:51.000 I guess my question is branched off of some of 1:41:51.040 --> 1:41:54.519 the things that have been answered already. But Chris, you're 1:41:54.560 --> 1:41:58.439 talking about earlier in your slides. Well, first of all, 1:41:58.479 --> 1:42:00.640 you know, buying back the block you alays when you 1:42:00.680 --> 1:42:04.679 come from you know, lower income black neighborhoods, that's always 1:42:04.760 --> 1:42:06.760 a dream you and your homeboys like, Yo, you know 1:42:06.760 --> 1:42:08.240 what I mean, I'm a buy back to block on 1:42:08.360 --> 1:42:11.479 by this. Well, I guess in my case, I got, 1:42:11.560 --> 1:42:14.040 I got some of my homeboys. We all kind of 1:42:14.160 --> 1:42:16.640 got a financial background of some sorts. 1:42:17.000 --> 1:42:17.880 But we new to this. 1:42:18.040 --> 1:42:20.840 And I know you said that don't all come in 1:42:21.000 --> 1:42:24.160 as rookies as novice. So I guess my question is 1:42:24.680 --> 1:42:28.120 where would you start to find someone who understands these 1:42:28.160 --> 1:42:30.040 contracts where you like, yo, you know what I mean, 1:42:30.880 --> 1:42:33.479 I'm a put down this amount, but you can become 1:42:33.520 --> 1:42:36.920 a partner or you know, like I'm a seller financeer. 1:42:37.200 --> 1:42:39.800 How do I find outside of just networking? 1:42:39.920 --> 1:42:43.439 Because I know Troy and Rashada was like they found 1:42:43.439 --> 1:42:46.680 somebody in Cleveland that they can trust. So one is 1:42:46.720 --> 1:42:49.160 trust and two, do you go look? I mean, do 1:42:49.240 --> 1:42:52.120 you look for a professional? I guess this is a 1:42:52.160 --> 1:42:54.200 big question, but do you look for a professional? How 1:42:54.200 --> 1:42:56.680 do you find somebody to join your group that not 1:42:56.720 --> 1:42:59.640 only you trust, but has that knowledge of not just 1:42:59.680 --> 1:43:03.000 book knowledge, but knowledge Just say, all right, when this happens, this, 1:43:03.240 --> 1:43:06.360 you know this, this like that's I guess that's my question, 1:43:06.400 --> 1:43:07.160 if that makes any sense. 1:43:07.200 --> 1:43:11.360 So where are you located? So I'm located in Virginia 1:43:11.439 --> 1:43:11.840 right now. 1:43:11.880 --> 1:43:16.599 I live in northern Virginia, but I'm from southern Virginia, Hampton, Uh, 1:43:16.760 --> 1:43:19.000 like in the Hampton University area, if you know, if 1:43:19.040 --> 1:43:21.080 you're familiar with that, Norfolk State, Uh. 1:43:21.000 --> 1:43:22.519 Some HBCUs in the area. 1:43:23.479 --> 1:43:27.479 But it's a lot of areas black areas Newport News, Norfolk, 1:43:27.520 --> 1:43:34.120 Portsmouth that are on the verge of I would say gentrification, 1:43:34.200 --> 1:43:35.920 but they not quite there yet. And we're trying to 1:43:35.920 --> 1:43:38.320 get active in the market. But you know, we don't 1:43:38.320 --> 1:43:41.200 have that that that that that game, that real game, 1:43:41.280 --> 1:43:43.479 not just open up a book game. But like you said, 1:43:43.520 --> 1:43:45.639 you you know all the ins and outs, and we're 1:43:45.680 --> 1:43:47.160 just trying to look for something like that. 1:43:48.000 --> 1:43:48.240 Man. 1:43:48.280 --> 1:43:50.759 So I would say, once again, just trying to find 1:43:51.120 --> 1:43:55.519 local mentors and not necessar not not necessarily somebody to 1:43:55.600 --> 1:43:57.840 invest with you. But maybe you have to just pay 1:43:57.880 --> 1:44:00.880 somebody for the knowledge for the time, you know, just 1:44:00.920 --> 1:44:01.720 to get into it. 1:44:01.800 --> 1:44:05.160 But you know, I got a platform called learnfromcris dot com. 1:44:05.200 --> 1:44:06.360 You can go in there and they'll give you a 1:44:06.360 --> 1:44:09.000 lot of the basic information and then that'll put you 1:44:09.000 --> 1:44:10.160 in a position if you want to go talk to 1:44:10.200 --> 1:44:13.599 somebody locally, because sometimes active investors don't want to deal 1:44:13.640 --> 1:44:16.960 with people that they can tell are completely green, you know, 1:44:18.120 --> 1:44:19.599 So if you can go in there and get yourself 1:44:19.600 --> 1:44:20.599 acclimated some things. 1:44:20.600 --> 1:44:21.400 Go to YouTube. 1:44:21.760 --> 1:44:24.640 There's a lot of stuff on there, and I'm not 1:44:24.640 --> 1:44:26.960 trying to be cliche, but I'm saying, like trying to 1:44:27.000 --> 1:44:28.880 get yourself as educated as possible so that when you 1:44:28.920 --> 1:44:30.320 get in front of these people, you can have an 1:44:30.360 --> 1:44:32.280 intelligent conversation with them about what you're. 1:44:32.120 --> 1:44:35.320 Trying to do. And man, Virginia has a lot a 1:44:35.320 --> 1:44:36.120 lot of investors. 1:44:36.160 --> 1:44:39.120 I mean, you could between Instagram, I know, I know 1:44:39.200 --> 1:44:42.600 several between Instagram and Facebook that might be able to 1:44:42.640 --> 1:44:42.880 help you. 1:44:42.800 --> 1:44:45.080 You can also look up local meetups. 1:44:45.479 --> 1:44:48.160 You know, just type in whatever the nearest big city 1:44:48.160 --> 1:44:51.120 to you and investment meetups, and that'll bring you to 1:44:51.200 --> 1:44:53.400 some groups that may have somebody's willing to work with you. 1:44:53.800 --> 1:44:56.000 But man, networking between social. 1:44:55.720 --> 1:45:01.920 Media platforms like Earn your Leisure and and uh yeah, 1:45:02.360 --> 1:45:05.400 just the Facebook groups. Man, I'm pretty sure you can 1:45:05.439 --> 1:45:06.960 find somebody if you all are looking. 1:45:07.120 --> 1:45:08.920 And like I said, we're gon, we're gonna going through 1:45:08.920 --> 1:45:09.960 that on our Facebook. 1:45:09.760 --> 1:45:12.080 I think, Yeah, Chris, I'm gonna take a quote and 1:45:12.120 --> 1:45:14.240 Jerome you can. You can use this quote and apply it. 1:45:14.240 --> 1:45:14.400 Man. 1:45:14.400 --> 1:45:15.840 I took this right from your page. I was like, 1:45:15.840 --> 1:45:18.120 this is dope. You said there's three things you need 1:45:18.160 --> 1:45:20.800 to be successful. The knowledge, the opportunity, the money. One 1:45:20.840 --> 1:45:22.479 you can control, the two you gotta find. 1:45:22.880 --> 1:45:23.200 That's it. 1:45:24.080 --> 1:45:27.960 So take that with you, Jerome, Knowledge, opportunity, money one 1:45:28.000 --> 1:45:28.400 you control. 1:45:28.479 --> 1:45:31.320 To you gotta go find my man, appreciate you. 1:45:31.439 --> 1:45:35.800 Sure when you see me running through Atlanta in l A, 1:45:35.960 --> 1:45:40.080 Los Angeles, ALV, Houston, Texas and these things l A too, 1:45:40.479 --> 1:45:42.599 it's a great cloud over New York right now. 1:45:43.360 --> 1:45:45.960 I've seen b Rude put your Headlanta Headquarters all the 1:45:45.960 --> 1:45:47.320 way e y Land Headquarters. 1:45:47.760 --> 1:45:48.719 It's already up and running. 1:45:48.720 --> 1:45:51.760 But we already said that we're re ramping it. We yeah, 1:45:51.880 --> 1:45:53.800 we got b rue. We got to meet up somewhere. Man, 1:45:54.000 --> 1:45:55.880 I know you in DC, but when we're Atlanta, you 1:45:55.920 --> 1:45:57.160 gotta come come check us out. 1:45:57.200 --> 1:45:59.840 Shout out to d C, Shout out to PG County. Shot. 1:46:00.040 --> 1:46:01.280 Earth is big though. That's why I know it was 1:46:01.280 --> 1:46:03.479 shot in New York. It's New York forever. But I 1:46:03.600 --> 1:46:07.439 just say that halfway, joking, only halfway. But the Earth 1:46:07.520 --> 1:46:09.759 is big though. We can't just be stuck in our neighborhood. 1:46:09.760 --> 1:46:12.120 It's like if something is too out of expensive or 1:46:12.200 --> 1:46:15.240 something that's just you know, never be afraid to expand 1:46:15.400 --> 1:46:17.400 like you know, this is this is, this is a 1:46:17.520 --> 1:46:20.240 large earth that we live in, even out of the country, 1:46:20.280 --> 1:46:21.479 Like you know what I mean, Like there's no there's 1:46:21.479 --> 1:46:23.559 no limits to anything that we do in life. And 1:46:23.600 --> 1:46:26.240 we put we put geographic limits on ourselves because where 1:46:26.240 --> 1:46:28.280 we're from, the neighborhoods that we grew up in in 1:46:28.320 --> 1:46:30.919 our family. But you never know, you might be pleasantly 1:46:30.920 --> 1:46:33.400 surprised when you start to travel and you see different 1:46:33.400 --> 1:46:35.800 areas and it's different opportunities, and it's different cultures and 1:46:35.840 --> 1:46:39.800 different people and they have different dialects. So you know, me, 1:46:39.920 --> 1:46:42.120 I love to travel, Troy. Troy gonna be here forever. 1:46:42.240 --> 1:46:45.280 But our wise man told me this. Man, he said 1:46:45.280 --> 1:46:47.320 this to us the other day. He said, go where 1:46:47.320 --> 1:46:50.320 you're celebrated. That's a fact too, Go where you're celebrated. 1:46:50.400 --> 1:46:50.599 Man. 1:46:50.680 --> 1:46:52.240 I was like, ooh, well. 1:46:52.120 --> 1:46:56.120 We're always gonna be celebrated in New York, Brooklyn shot celebrate. 1:46:56.200 --> 1:46:58.759 I was like, that's powerful. Natalie, what's up yourself? 1:46:58.760 --> 1:47:04.240 You've been unmuted? Has been on point today on Natalie. 1:47:04.640 --> 1:47:06.720 Right when I say that, you know how his work 1:47:06.960 --> 1:47:10.519 ain't no frish breaks. So Natalie, we gotta move on. 1:47:10.600 --> 1:47:13.439 We gotta move on. Let's go to Samantha. Samantha, we 1:47:13.479 --> 1:47:14.679 I'm mute and you i'mute yourself. 1:47:17.600 --> 1:47:17.880 Hello. 1:47:18.439 --> 1:47:21.080 There we go. Let's keep this thing rolling. Samantha, thank you. 1:47:21.720 --> 1:47:26.400 I got thank you. 1:47:26.479 --> 1:47:31.000 So good evening, everyone, good evening. Shout out to the 1:47:31.040 --> 1:47:33.439 earners and my cousins that are listening. I sent this 1:47:33.520 --> 1:47:39.280 to them. We have started our own investment group. Our 1:47:39.360 --> 1:47:41.880 overall goal, or one of our overall goals, would be 1:47:42.320 --> 1:47:44.519 to do this in Jamaica because our family is from there. 1:47:44.560 --> 1:47:48.240 Our parents are from Saint Anne. And but you know, 1:47:48.280 --> 1:47:49.200 we have to start small. 1:47:49.800 --> 1:47:52.040 Yeah, yeah, Yeah, I'm with that. Shout out to Jamaica. 1:47:53.400 --> 1:47:58.879 So my question is how did you structure the business? 1:47:58.920 --> 1:48:01.320 Did you do it on your own and then do 1:48:01.400 --> 1:48:04.920 like a joint venture with other people, or did you 1:48:04.960 --> 1:48:06.559 all create your own business? 1:48:06.560 --> 1:48:09.479 How did that work? Yeah, that's a great question. So 1:48:09.920 --> 1:48:13.120 each project I do has its own individual entity, so 1:48:13.160 --> 1:48:14.520 its own individual. 1:48:14.280 --> 1:48:18.599 LLC, and that LLC owns the project, and so there's 1:48:18.640 --> 1:48:20.240 several ways you can structure from there. 1:48:21.040 --> 1:48:24.200 It depends on who is playing what role. 1:48:24.280 --> 1:48:27.160 So if you're bringing on other investors, some of them 1:48:27.280 --> 1:48:30.760 may want to be a member of your LLC, some 1:48:30.840 --> 1:48:33.320 of them want to joint venture where your. 1:48:33.200 --> 1:48:35.920 Two LLCs work together some of you. 1:48:36.160 --> 1:48:38.000 Some of them may want if they just want to 1:48:38.000 --> 1:48:41.200 be passive investors, you may have to structure something where 1:48:41.240 --> 1:48:44.280 they are in a limited partnership with you, where you 1:48:44.320 --> 1:48:47.320 are the general partner that makes decisions and they are 1:48:47.360 --> 1:48:50.400 like a passive limited partner that may get the first 1:48:50.479 --> 1:48:54.960 returns out of the deal. So it varies greatly. It 1:48:55.000 --> 1:48:58.000 really depends on the scope of the project you're trying 1:48:58.040 --> 1:49:01.639 to do. It's nothing wrong with all y'all just putting 1:49:01.680 --> 1:49:04.200 together and doing one LLC. If that's what you want 1:49:04.280 --> 1:49:08.639 for the first project. Uh, of course this is this 1:49:08.720 --> 1:49:12.200 is not legal advice. You always just see legal counsel. 1:49:12.720 --> 1:49:14.760 But yeah, so, like I said, each project I do 1:49:14.880 --> 1:49:16.080 is different, structure, a little different. 1:49:20.680 --> 1:49:23.040 No, that was that was That was a great question, Samantha. 1:49:23.120 --> 1:49:23.760 Appreciate you. 1:49:23.880 --> 1:49:25.559 Let's go to one more. Let's go to one more. 1:49:25.920 --> 1:49:28.280 And I see that Shannon is telling you the contact. 1:49:29.160 --> 1:49:31.920 So here's Shannon up. She's in the chat here. Shannon, 1:49:32.000 --> 1:49:32.679 shout out to Shannon. 1:49:32.760 --> 1:49:33.439 Let's get one more. 1:49:34.040 --> 1:49:34.400 Let's see. 1:49:34.439 --> 1:49:37.040 Let's see this is a we haven't seen this name before. 1:49:37.240 --> 1:49:40.679 We haven't seen this name for Ashley. We're coming to you, Ashley. 1:49:40.720 --> 1:49:42.519 What's going on? I mute yourself. You've been unmuted? 1:49:42.880 --> 1:49:43.839 What okay? 1:49:43.880 --> 1:49:47.439 Sorry, I'm so excited I supposed to hear that part. 1:49:48.320 --> 1:49:49.000 Sorry. 1:49:50.360 --> 1:49:55.799 I appreciate y'all for allowing me to speak and ask questions. Chris, 1:49:55.840 --> 1:49:57.439 I want to thank you for what you're doing for 1:49:57.479 --> 1:50:01.439 the city of Houston. I'm originally from Houston. My dad 1:50:01.520 --> 1:50:04.200 was born and raised in fifth Ward. It helped me 1:50:04.840 --> 1:50:08.479 great a really special place in my heart. My major 1:50:08.600 --> 1:50:11.240 was urban planning. I went to Brown University. I'm a 1:50:11.240 --> 1:50:14.639 little nervous I'm sorry. I went to Brown University studied 1:50:14.720 --> 1:50:17.840 urban planning, came back home and was like, man, I 1:50:17.920 --> 1:50:21.080 see this happening, Like I could tell all the things 1:50:21.080 --> 1:50:22.120 that you've been talking about. 1:50:23.040 --> 1:50:24.280 When you see stuff like. 1:50:26.479 --> 1:50:31.080 Infrastructure coming to a place, like you said, sidewalks even 1:50:31.160 --> 1:50:35.880 down to bus buses or light rails coming into a 1:50:35.880 --> 1:50:39.519 community that were never there before, that's another marker. And 1:50:39.560 --> 1:50:43.479 I just started seeing this, like, man, when are we 1:50:43.600 --> 1:50:45.519 gonna all get on the same page and to see 1:50:45.560 --> 1:50:45.880 you do it. 1:50:45.920 --> 1:50:47.080 I moved away from Houston. 1:50:47.520 --> 1:50:50.200 Unfortunately I didn't have the opportunity to invest. I mean 1:50:50.760 --> 1:50:53.559 I will now and I have the tools and I've 1:50:53.560 --> 1:50:57.080 been learning these last few years. But I left Houston 1:50:57.120 --> 1:50:59.640 because a lot of people weren't willing to give me 1:50:59.640 --> 1:51:02.519 the opportunity to work in urban planning and really real 1:51:02.640 --> 1:51:05.559 estate development because I didn't have the experience. I just 1:51:05.600 --> 1:51:10.200 had the knowledge, and I came to LA and I 1:51:10.240 --> 1:51:12.040 come back to Houston and I just see it like 1:51:12.120 --> 1:51:14.559 every month I've been coming back for the last three months, 1:51:14.560 --> 1:51:18.200 and like it's happening, like I've been telling people, and 1:51:18.280 --> 1:51:22.839 you know, Paul revereing it like hey, gentrification, grification is coming, 1:51:23.000 --> 1:51:26.439 like you know, these people are moving in here with 1:51:26.960 --> 1:51:30.280 you know, their privilege, but they don't have you know, 1:51:31.160 --> 1:51:31.920 the roots here. 1:51:32.000 --> 1:51:34.200 They're there for the capitalist opportunities. 1:51:34.880 --> 1:51:38.320 And my one reason why I raised my hand, had 1:51:38.320 --> 1:51:40.719 no idea they were gonna call me, but I wanted 1:51:40.720 --> 1:51:45.680 to thank you personally, even if it's via zoom. I 1:51:46.040 --> 1:51:51.560 appreciate what you're doing and sparking even the thought because unfortunately, 1:51:51.760 --> 1:51:53.680 the reason why I moved from Houston too is a 1:51:53.680 --> 1:51:57.439 lot of people were so driven on being corporate, corporate, 1:51:57.479 --> 1:52:00.679 corporate only and we see something like co It happening 1:52:00.760 --> 1:52:04.400 where the rug is pulled out from everybody and you know, 1:52:05.000 --> 1:52:08.599 either you had that mindset of pivoting or now you're 1:52:08.680 --> 1:52:13.000 fumbling to get there. And the platform like eyl is helping, 1:52:13.320 --> 1:52:16.160 you know, people all over the globe to really learn 1:52:16.200 --> 1:52:19.559 how to pivot. And I appreciate you guys. I'm I'm 1:52:19.560 --> 1:52:22.960 an earn I've been an earnest since March, and I've 1:52:22.960 --> 1:52:23.800 been telling. 1:52:23.520 --> 1:52:26.559 People like, hey, you need to get with I mean, I. 1:52:26.479 --> 1:52:29.360 Appreciate y'all putting it on YouTube, but getting in the 1:52:29.520 --> 1:52:32.760 community is totally different. Like you mentioned, when you talk 1:52:32.840 --> 1:52:36.160 to a stranger and they're believing in you and giving 1:52:36.160 --> 1:52:39.680 you resources. You have to be able to tap into that, 1:52:39.800 --> 1:52:44.240 so paying what was due, I mean luckily I did 1:52:44.240 --> 1:52:44.719 it early. 1:52:44.920 --> 1:52:47.800 So you know, you always reward the people that adopt early. 1:52:48.080 --> 1:52:50.800 And I appreciate you, guys, but you know it's still 1:52:50.920 --> 1:52:53.720 valuable at the price that it is now. Chris, I 1:52:54.479 --> 1:52:58.759 will ask as I'll get to my question, I'm sorry 1:52:58.760 --> 1:53:01.439 for I'm trying to I'm. 1:53:01.240 --> 1:53:03.200 Trying to get like, go. 1:53:05.720 --> 1:53:06.439 Thank y'all. 1:53:07.080 --> 1:53:11.320 But being in another city, do you think it's feasible? 1:53:13.120 --> 1:53:15.240 Because I have some of the knowledge I have, I 1:53:15.280 --> 1:53:18.000 see it and this is happening in every city in 1:53:18.000 --> 1:53:19.240 the country, you guys, So. 1:53:19.240 --> 1:53:21.880 Wherever you are, you you can tap in. 1:53:22.439 --> 1:53:25.400 But do you feel it's possible to be an investor 1:53:25.520 --> 1:53:27.000 from long distance or do you. 1:53:27.000 --> 1:53:30.280 Feel like you need to be in that specific city. 1:53:30.320 --> 1:53:33.599 I mean, la Is prices are going down because so 1:53:33.600 --> 1:53:36.080 many people moved, so the demand is not there. But 1:53:37.479 --> 1:53:40.320 you know, say for instance like an Arizona or Nevada. 1:53:40.479 --> 1:53:43.599 I don't live there, but I can tell that those cities, 1:53:43.600 --> 1:53:47.439 the cities there are gonna gonna be moving into a 1:53:47.560 --> 1:53:49.000 redevelopment phase soon. 1:53:49.160 --> 1:53:51.120 So what is your advice on that. 1:53:51.960 --> 1:53:54.320 You can definitely invest anywhere in the country. I mean, 1:53:55.040 --> 1:53:56.880 it's all about having a team in place, right. It's 1:53:56.920 --> 1:53:59.160 no different than investing in a stock. But you don't 1:53:59.160 --> 1:54:00.519 know where the headquarters is, you don't know where the 1:54:00.600 --> 1:54:02.280 CEO is, you don't know where the factory is. 1:54:02.800 --> 1:54:04.320 You just have to have the right systems and the 1:54:04.400 --> 1:54:05.559 right team around you. 1:54:05.680 --> 1:54:07.800 So whatever city you're go into, you're gonna need a 1:54:07.840 --> 1:54:12.120 good realtor, a good property manager, a good contractor, and 1:54:12.200 --> 1:54:15.160 somebody that can manage them, you know, or you have 1:54:15.200 --> 1:54:17.720 to have good open communication with them, or you know, 1:54:17.800 --> 1:54:18.639 local investors that. 1:54:18.560 --> 1:54:19.080 You partner with. 1:54:19.120 --> 1:54:20.800 That's probably the easiest way to get into a new 1:54:20.800 --> 1:54:22.840 market instead of trying to do it on your own. 1:54:23.760 --> 1:54:25.960 So yeah, it's definitely possible. I know, I know some 1:54:26.000 --> 1:54:27.800 friends that only invest out of town. They don't even 1:54:27.800 --> 1:54:30.880 invest in the city they live in. So it's definitely practical. 1:54:32.040 --> 1:54:33.440 Appreciate you, appreciate your ass. 1:54:33.600 --> 1:54:36.680 Thank you, ladies and gentlemen. Chris. They said that you 1:54:36.720 --> 1:54:42.360 look tired, man. Hustlers don't sleep, man. 1:54:43.400 --> 1:54:46.040 I'm telling they they say, Troy, you suspended all guidelines. 1:54:46.840 --> 1:54:52.960 Man, I gotta get used to Wednesday. 1:54:51.560 --> 1:54:54.040 Now, Chris Man, I really, really really really appreciate it. 1:54:54.080 --> 1:54:56.240 We're going to go into some more stuff with Chris, 1:54:56.560 --> 1:54:58.840 but before before we wrap, I want to give Chris 1:54:58.880 --> 1:55:01.920 the last word. But before we finish, once again, if 1:55:01.920 --> 1:55:04.680 anybody has just joined at this point in time, this 1:55:04.880 --> 1:55:07.760 was just a you know, an open house of what 1:55:07.800 --> 1:55:09.960 we do once a month for Eyo University and the 1:55:10.040 --> 1:55:13.040 interstident joining Eyo University. We have a Facebook group, we 1:55:13.120 --> 1:55:15.520 have a book club, movie club, We do bi weekly 1:55:15.560 --> 1:55:18.000 real estate called MT the Mortgage Guy. We do. We 1:55:18.080 --> 1:55:20.520 do these type of classes every single week, every Wednesday. 1:55:20.760 --> 1:55:23.480 And there's archives, like over seventy five archive classes, so 1:55:23.520 --> 1:55:25.000 as soon as you join, you have access to all 1:55:25.000 --> 1:55:27.680 of that stuff and everything from disability insurance to how 1:55:27.680 --> 1:55:32.040 to buy a car, to host real estate wholesaling everything. 1:55:32.200 --> 1:55:35.600 New orientation for new earners, we got accountability try it. 1:55:35.680 --> 1:55:36.640 What date is the orientation. 1:55:36.800 --> 1:55:40.600 There's going to be November fourteenth, if I'm not mistaken, 1:55:40.800 --> 1:55:43.080 I could be No fourteen. 1:55:42.760 --> 1:55:47.360 November fourteenth at one o'clock. We have November twenty first 1:55:47.480 --> 1:55:49.640 we have orientation. We treating it's like a it's a 1:55:49.680 --> 1:55:51.280 real university, so like you know when you go to 1:55:51.320 --> 1:55:55.240 school and you have freshman orientation. So you know, we 1:55:55.280 --> 1:55:56.800 have a lot of different spots. We got we got 1:55:56.840 --> 1:55:59.840 our Facebook group, we got the website, so it might 1:55:59.840 --> 1:56:01.720 be kind of hard for people to navigate. So we 1:56:01.760 --> 1:56:05.040 got orientation on the twenty first, and yeah, man, this 1:56:05.080 --> 1:56:06.920 is this is definitely gonna be the biggest, the biggest 1:56:07.000 --> 1:56:11.800 educational platform in existence. And twenty four hours and twenty 1:56:11.800 --> 1:56:13.879 four hours, the price goes up. So if you're interested 1:56:13.920 --> 1:56:16.520 in joining, the link is in only the link, the 1:56:16.560 --> 1:56:21.200 only discount link is in YouTube because uh, we didn't 1:56:21.200 --> 1:56:23.280 want to do a cold because there's issues with the cold. 1:56:23.360 --> 1:56:26.520 So just hit the hit the link in YouTube. It's pinned. 1:56:26.640 --> 1:56:30.160 I'll put it in the comments section again. And yeah, man, 1:56:30.360 --> 1:56:33.040 if you're interested in joining, it's only up from here. 1:56:33.080 --> 1:56:35.280 It's only up from here. But Chris, I want to 1:56:35.320 --> 1:56:38.160 give you the final word because I mean, we're going 1:56:38.240 --> 1:56:39.640 to be doing some more stuff together. I don't know 1:56:39.640 --> 1:56:41.280 if you're ready to talk about that or not yet, 1:56:41.320 --> 1:56:42.080 but yeah. 1:56:42.160 --> 1:56:43.600 We can talk about it. 1:56:44.000 --> 1:56:46.600 You want to tell you know, yeah, e y L 1:56:46.760 --> 1:56:50.440 E y L Podcast Network. You obviously know that, you know, 1:56:50.600 --> 1:56:52.520 the people know we have a strong track record with 1:56:53.120 --> 1:56:57.800 our show, our podcast and market mondays. We said earlier, 1:56:57.880 --> 1:57:00.440 like in March, like we want to we want to 1:57:00.440 --> 1:57:03.600 work with other creatives and other entrepreneurs and different people 1:57:03.640 --> 1:57:05.720 to kind of, you know, help them out as far 1:57:05.720 --> 1:57:09.600 as their journey in podcasting and market. Mondays was our 1:57:09.600 --> 1:57:15.640 first experiment and that was wildly successful experiment. So now 1:57:15.720 --> 1:57:19.520 we we we got a long list of other people 1:57:20.080 --> 1:57:24.320 that we're gonna bring on the label and Chris, Chris 1:57:24.400 --> 1:57:28.000 hit me up, man, so I think, yeah, we're gonna 1:57:28.000 --> 1:57:29.320 were gonna work on that podcast. 1:57:29.400 --> 1:57:32.800 Man, it's long overdue for me, man, I just didn't 1:57:32.840 --> 1:57:34.360 have the capacity to do it on my own. So 1:57:34.720 --> 1:57:44.600 it's an honor to partner with the number one. 1:57:42.400 --> 1:57:45.000 And and and this just just this just goes to show, like, 1:57:45.040 --> 1:57:48.480 you know, we're working together. You know, young black entrepreneurs. 1:57:48.560 --> 1:57:51.360 Chris is in real estate, we're in the media space, 1:57:51.880 --> 1:57:54.280 and he recognized that we can we can bring some 1:57:54.400 --> 1:57:56.680 value to him, he can bring some value to us. 1:57:56.720 --> 1:58:00.400 So instead of us working apart, were much strong if 1:58:00.440 --> 1:58:02.960 we come together. And if you know, all of these 1:58:02.960 --> 1:58:06.520 big corporations can have podcast networks. I can't. Why can't 1:58:06.520 --> 1:58:08.800 you all have a podcast network? And all of the 1:58:08.840 --> 1:58:12.800 relationships that we built and build it out from there. So, yeah, 1:58:12.800 --> 1:58:15.520 you heard it first. You heard it first, ladies and gentlemen, This. 1:58:15.520 --> 1:58:18.480 Is breaking news alert. Look, look we got so we 1:58:18.880 --> 1:58:20.720 got a couple more breaking news alerts that we're going. 1:58:20.760 --> 1:58:22.520 We ain't ready to announce him. Yeah, but trust me. 1:58:22.560 --> 1:58:26.880 The label growing, Oh no, it's gonna be like Rockefeller. 1:58:26.920 --> 1:58:30.960 It's gonna be like Rockfeller in the early two growing. 1:58:31.080 --> 1:58:33.320 Yeah, expeditionous. 1:58:35.720 --> 1:58:38.280 But how can they? How can they your crowdfund? Know, 1:58:38.320 --> 1:58:41.440 you said your crowdfund is full, but talk about that 1:58:41.480 --> 1:58:42.960 as far as like, are you going to open up 1:58:42.960 --> 1:58:46.200 a new crowdfund? What's your plans as far as your development, like, 1:58:46.280 --> 1:58:48.040 let the people know how they can follow you, all 1:58:48.040 --> 1:58:50.240 the information that you you know, you have to give 1:58:50.240 --> 1:58:51.200 to the people. Yeah. 1:58:51.240 --> 1:58:54.040 Man, So right now I'm actively looked at a few 1:58:54.080 --> 1:58:56.400 different projects that I may use for the next crowdfund. 1:58:56.440 --> 1:58:58.680 I have not figured it out yet, but as soon 1:58:58.680 --> 1:59:02.120 as I do, everybody they will know, and Eyl probably 1:59:02.200 --> 1:59:05.520 the first ones to know about it. Yeah, so just 1:59:05.560 --> 1:59:07.680 stay tuned for that. I can technically going to do 1:59:07.680 --> 1:59:09.600 one a year if you hit the max. So uh, 1:59:10.000 --> 1:59:12.120 actually the end of November, I'll be able to start 1:59:12.320 --> 1:59:14.560 putting another one together. Yeah, so if you want to 1:59:14.600 --> 1:59:18.320 follow me, just Underscore Investor on Instagram. 1:59:18.760 --> 1:59:21.960 I have a YouTube channel. Uh. Like I said, if 1:59:22.000 --> 1:59:24.120 you want to learn more about real. 1:59:24.040 --> 1:59:27.320 Estate investing specifically, you can go to learn from Chris 1:59:27.360 --> 1:59:29.200 dot Com. I have actually have a free guide on 1:59:29.240 --> 1:59:31.480 five strategies where you can invest passively. So for the 1:59:31.560 --> 1:59:33.760 busy people that don't have time and don't want to 1:59:33.760 --> 1:59:36.720 be active wholesalers or flippers, I got five strategies that 1:59:36.760 --> 1:59:39.040 I can that I'm showing you how you can truly 1:59:39.080 --> 1:59:40.760 invest passively and still make money. 1:59:41.680 --> 1:59:41.920 Yeah. 1:59:41.960 --> 1:59:45.200 So, and that that also leads into a membership group 1:59:45.240 --> 1:59:50.720 where I'm probably one of the only instructors online that 1:59:50.760 --> 1:59:53.960 has courses that's actually talking about gentrification, talking about crowdfunding 1:59:54.000 --> 1:59:57.280 and all those things inside the platform as well. So, yeah, man, 1:59:57.320 --> 1:59:59.840 learn from Chris dot Com investor on Instagram. 2:00:00.000 --> 2:00:00.760 That's pretty much it. 2:00:02.040 --> 2:00:07.040 There you have it. But investor is Underscore I n 2:00:07.800 --> 2:00:09.040 V S t R. 2:00:09.600 --> 2:00:09.960 Yeah. 2:00:10.040 --> 2:00:14.440 Yeah, the only vowel is that I are. 2:00:14.480 --> 2:00:16.480 You Just go to the your leisure page and click 2:00:16.560 --> 2:00:17.960 click my Yeah. 2:00:18.280 --> 2:00:21.200 We put his Instagram in the description of this video 2:00:21.240 --> 2:00:23.760 as well. The fact you definitely should follow Chris on 2:00:23.800 --> 2:00:25.680 Instagram a lot, a lot of gyms. Yeah, legend. 2:00:25.720 --> 2:00:26.200 That's why I said. 2:00:26.200 --> 2:00:27.880 We don't throw around the word legend a lot. But 2:00:27.920 --> 2:00:30.040 this guy definitely is one man. So shout out to Houston, 2:00:30.440 --> 2:00:34.120 the third World, third Ward, fifth Ward. Shout to Beyonce 2:00:37.120 --> 2:00:40.000 Ivey Park Joint drove tomorrow too, so be on the Friday, 2:00:40.080 --> 2:00:41.320 look on the lookout. 2:00:41.600 --> 2:00:44.360 Shout shout of Dallas, Texas too. I was out there 2:00:44.400 --> 2:00:46.360 for the first time, my first time in Dallas, and 2:00:46.800 --> 2:00:48.400 that's a dope city too. Now we just got to 2:00:48.440 --> 2:00:51.600 go to Austin. You gotta go to Austin, Texas. But 2:00:52.280 --> 2:00:55.040 shout out to the whole state of Texas. Don't mess 2:00:55.080 --> 2:00:59.520 with Texas, man. Everything is is what is it? Everything 2:00:59.600 --> 2:01:02.720 big into there you go. Yeah, you know they're having 2:01:02.720 --> 2:01:04.440 a tough time right now with the sports teams. But 2:01:05.840 --> 2:01:10.160 so good, all right, so good man. But nah, Chris Brother, 2:01:10.200 --> 2:01:14.480 I appreciate you, love, I appreciate you. Oh yeah, so 2:01:15.160 --> 2:01:18.640 stay safe, man. We'll be in contact, and everybody, thank 2:01:18.680 --> 2:01:22.040 you for joining us. This video will be saved on YouTube, 2:01:22.120 --> 2:01:23.440 so you can go back and watch it if you 2:01:23.520 --> 2:01:26.280 if you missed a part of it, and tell everybody 2:01:26.280 --> 2:01:28.680 about Chris and tell everybody about all of the great 2:01:28.680 --> 2:01:30.800 work that he's doing. And hopefully you got some information 2:01:30.840 --> 2:01:33.520 that you can actually use and replicate in your part 2:01:33.560 --> 2:01:35.400 of the world. That's what this is all about. Each one, 2:01:35.440 --> 2:01:39.200 teach one. So all right, you have say. 2:01:39.080 --> 2:01:43.880 What's to you next week? Go call somebody, man, go 2:01:43.920 --> 2:01:45.040 call somebody. Reach out. 2:01:45.800 --> 2:01:48.560 One test can change a lifetime or change somebody's life. 2:01:48.680 --> 2:01:51.240 One call can change somebody's life. Make sure y'all do that. 2:01:51.280 --> 2:01:53.280 Go through your contact list now, just reach out. Let 2:01:53.320 --> 2:01:55.800 somebody know you thinking about them. All right, peace, We 2:01:55.840 --> 2:01:56.280 love y'all. 2:01:56.280 --> 2:01:56.640 We out. 2:01:56.720 --> 2:01:57.720 Chris, love bro. 2:01:59.600 --> 2:01:59.960 My Brad. 2:02:00.000 --> 2:02:03.520 I do it for my school being force bag, drop 2:02:04.200 --> 2:02:07.920 Bag Drop Mike, drop Bag drop Drop. 2:02:20.160 --> 2:02:23.640 Lows knows that free makes everything better. That's why our 2:02:23.680 --> 2:02:26.600 rewards members get free standard shipping on the things they 2:02:26.680 --> 2:02:30.320 need and want, starting at silver key status. Every day 2:02:30.800 --> 2:02:34.040 savings for Rewards members add up fast, So why wait? 2:02:34.440 --> 2:02:39.120 Join for free today? Lows We have you saved. Not 2:02:39.200 --> 2:02:41.240 available in Alaska, Hawaii. 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