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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
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Speaker 3: All right, guys, So a lot of people asks us
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Speaker 4: My graduates from my school being forts backdrop.
Speaker 3: Bag drop, Mike drop back, drop drop. I hope everybody
Speaker 3: got a chance to check out to kill a mic episode.
Speaker 3: That's all right now on all platforms. The young legend himself, Chris,
Speaker 3: what's going on? Brother?
Speaker 5: Are y'all?
Speaker 3: Oh we're great, bron how you I'm great?
Speaker 5: Man, I'm great, blessed man. Can't complain, yo, man.
Speaker 2: We gotta make it back to age down, that's a fact.
Speaker 3: Yeah, we can't wait.
Speaker 6: It was.
Speaker 5: It was, it was too short.
Speaker 2: That was our first time. It was definitely a memorable one.
Speaker 5: The right and then COVID hit right before y'all were
Speaker 5: coming back right, Yeah, we was.
Speaker 3: We was talking to you, and I was talking to
Speaker 3: you trying to work out like venues and eights and
Speaker 3: all that. Then was like they had the rodeo going
Speaker 3: on and it was a bunch of stuff. We had
Speaker 3: to push it back because we had Philly and we
Speaker 3: actually could we couldn't get either one off. We had
Speaker 3: to cancel Philly like two days before, and Houston was
Speaker 3: supposed to be after Philly. So God will and whenever
Speaker 3: this thing clears up finally, man, we're coming back. Were
Speaker 3: coming back to Houston, full, full steam ahead.
Speaker 5: Gotta make it happen, man, gotta make it happen.
Speaker 2: We had a good time out there.
Speaker 3: Chris shout out to Htown, Man, shout out to Htown
Speaker 3: for sure. Man. So yeah, man, we're gonna just you know,
Speaker 3: let people settle in here. But once again, thank you
Speaker 3: for joining us. I feel like, you know, we just
Speaker 3: shot your episode. It's crazy how time flies.
Speaker 7: That was man, Yeah really but man, just watching the
Speaker 7: trajectory of ey L Man, it's been it's been phenomenal
Speaker 7: to watch.
Speaker 8: Man.
Speaker 5: I'm like the biggest fan.
Speaker 2: Yeah, man, we shot that, we shot your episode.
Speaker 9: We went to we did our Houston open house in
Speaker 9: a sense really meet and greet.
Speaker 2: I was like, yo, man, we got a special one
Speaker 2: with you. I love that.
Speaker 3: Yeah that was that was dope, man. That was dope.
Speaker 3: So yeah, if anybody's not familiar Chris Sinega a legend
Speaker 3: in his own right episode thirty six at Lisia, you
Speaker 3: should definitely check that out if you get a chance.
Speaker 3: So at the time, this is actually dope because at
Speaker 3: the time he was like in the process of like
Speaker 3: he brought a whole block in Houston. So I won't
Speaker 3: go over the whole story because it's in the episode.
Speaker 3: So what happened is that, you know, he was a
Speaker 3: real estate developer and then he brought a whole block
Speaker 3: in Houston, Texas in the Fifth Ward, which at the
Speaker 3: time was run down like prostitution, drugs, stuff like that,
Speaker 3: and he changed the whole the whole face of the
Speaker 3: block and he put like townhouses up. But what makes
Speaker 3: him different is that he's not just you know, bringing
Speaker 3: people in, just you know, gentifying the neighborhood. So what
Speaker 3: happens a lot of times and and poor working class
Speaker 3: neighborhoods is that you know, people do well for themselves, right,
Speaker 3: they grow up in the neighborhood. But they might become
Speaker 3: a doctor, a lawyer, accountant, or whatever. Right, maybe they
Speaker 3: get a six figure job, and then they move into
Speaker 3: the suburbs. So the problem with doing that is that now,
Speaker 3: as we put in the post today, the suburbs the dollars.
Speaker 3: It helps their school district, that helps their roads that
Speaker 3: you know, their infrastructure, and meanwhile the hood place you
Speaker 3: grew up in never gets that. But what does come
Speaker 3: is that now people that are not from that neighborhood
Speaker 3: come into that neighborhood and then they start investing. And
Speaker 3: now what happens is that the people that the culture
Speaker 3: actually changes and the people gets pushed out. So he
Speaker 3: had the idea, like to say, okay, well, why don't
Speaker 3: we bring the people that are originally from this neighborhood.
Speaker 3: They got families in this neighborhood that grew up in
Speaker 3: this neighborhood or just grew up in similar type of
Speaker 3: neighborhoods and bring them back. Right, so working class professionals
Speaker 3: instead of going to the suburbs, come back into the
Speaker 3: inner city and let's change the culture of it, like
Speaker 3: let's get better schools, let's get you know, let's make
Speaker 3: it a safe environment. Let's do all that, but let's
Speaker 3: do it responsibly. So he was like the first person
Speaker 3: that we really interviewed that at that that strategy. And
Speaker 3: so from now and I'll let him tell it better
Speaker 3: than I can, but from from that point until now,
Speaker 3: he he brought and sold. He built and sold five homes.
Speaker 3: He started working on eight. He started, he's starting working
Speaker 3: on eight next month. He purchased eighteen houses in two
Speaker 3: commercial buildings in March, and so he's actually like in
Speaker 3: the process of actually buying back the block in real time.
Speaker 9: So it's fitting because you know, shout out, shout out
Speaker 9: to Houston. But like when I think of Houston, I
Speaker 9: think a scarface and his knee had to saw my block. Yeah,
Speaker 9: I'm looking like, yo, Chris really did.
Speaker 2: It, And this who happens?
Speaker 9: When we went there, we stayed in the fifth ward,
Speaker 9: third ward door door World, third Ward, and I was like, yo,
Speaker 9: I remember one day we lost I thought we lost Shotty.
Speaker 9: I was like, yo, bro, yo, everybody seem Shotty and yeah,
Speaker 9: we couldn't find him. We like, yo, damn, I think
Speaker 9: somebody followed us to the crib bro they got him.
Speaker 9: He's like walking like aimlessly down the block, like this
Speaker 9: is a nice neighborhood. He's like, you know, I just
Speaker 9: saw Chris Senegal. He's scouting.
Speaker 3: They thought I got kidnapped. Was running out the house,
Speaker 3: like where is he? Where's he at? Like I'm like,
Speaker 3: I just took the shoulder the neighborhood. Man. They literally
Speaker 3: thought I got kidnapped in Houston, right. But but yeah,
Speaker 3: so Chris, So what we're going to do is I'm
Speaker 3: gonna let you go through your presentation all that, but
Speaker 3: before we even start anything that I missed out as
Speaker 3: far as the backstory or where you're at now, as
Speaker 3: far as the development things of that nature.
Speaker 5: Man, you hit all important points. I mean, you know,
Speaker 5: we've got two different projects. One is, you know, the
Speaker 5: new construction bringing in the.
Speaker 7: Higher incomes back to the community, and the other one
Speaker 7: is that eighteen house portfolio bought is specifically to protect
Speaker 7: the existing residents. You know, we can try to get
Speaker 7: the city to control the rents or whatever talk about
Speaker 7: you know, stopping gentrification, but we can't stop it. The
Speaker 7: only way you really control the rents is to own
Speaker 7: the real estate that the rents come from.
Speaker 5: And so that's been my focus. Man. Just trying to
Speaker 5: so that we can do both sides. So yes, I'll
Speaker 5: get into a little presentation. We'll talk about that.
Speaker 3: In a second, all right, so let's get into it.
Speaker 3: So before we start, we're going welcome everybody. So what
Speaker 3: we do we do this. We do this once a
Speaker 3: month at the end of the month, so we have
Speaker 3: eyl University, and part of eyl University is that we
Speaker 3: do weekly classes. Like we do a class every single
Speaker 3: week every Wednesday at eight o'clock Eastern Standard time, and
Speaker 3: then at the last Wednesday of each month, we open
Speaker 3: it up for the public so they can like you know,
Speaker 3: have like an open house. It's kind of like an
Speaker 3: open house type deal. So what we do with the
Speaker 3: Eyo University classes is that different from the podcast where
Speaker 3: it's it's interactive. So a teacher or a presenter comes
Speaker 3: on and they give like a twenty minute PowerPoint presentation
Speaker 3: on it on a different topics, and then members from
Speaker 3: Eyo University then they engage with them, they ask questions
Speaker 3: and it's like an interactive it's a new way of learning.
Speaker 3: So what we did with Eyo University, we think is
Speaker 3: really create a personal finance school bigger than just investing
Speaker 3: because it's like you could just watch market Mondays just
Speaker 3: for investment tips. But Eyo University is a whole personal
Speaker 3: in school. So like this month, the classes that we
Speaker 3: had was disability insurance. We had how to start a
Speaker 3: marijuana company with two thousand dollars, and we had car
Speaker 3: buying class. And then next next Wednesday, we have the
Speaker 3: class about Africa real estate, how to invest in Ghana
Speaker 3: real estate, International real estate. So we got a lot
Speaker 3: of international people and we want to start doing more
Speaker 3: international stuff. But even if you live in America, Ghana's
Speaker 3: on fire right now. So each and every week we do,
Speaker 3: we do a different class.
Speaker 2: November we got some heat coming. Yeah, we got some heat.
Speaker 3: And then in addition to that, we got the book
Speaker 3: and movie club headed up by you.
Speaker 2: Yeah yeah.
Speaker 9: Right now we're doing a money Master of the Game
Speaker 9: and that's been going crazy every week. I mean, I
Speaker 9: think we hit a record last week. We had like
Speaker 9: almost four hundred people in our book club. It was
Speaker 9: absolutely amazing. It's more than a book club. It becomes
Speaker 9: like this therapeutic session on finance and real estate, and
Speaker 9: then it becomes like yo, I found my partners. Inside
Speaker 9: of that, we have what we call triads, which is
Speaker 9: like three people that are finding the ways that they
Speaker 9: have in common and becoming accountability.
Speaker 2: Partners for each other.
Speaker 9: So it's like, yo, that could be my business part
Speaker 9: or it could just be somebody that's pushing me to
Speaker 9: find my goals or reach my goals.
Speaker 2: And what we've noticed is like, this is dope.
Speaker 9: It's like sometimes you tell the person close to you
Speaker 9: your goals and they don't believe in you. But when
Speaker 9: you tell a stranger of your goals, all they know
Speaker 9: is your goals. They don't know anything about you but
Speaker 9: the goal, and they try to help you reach And
Speaker 9: I think that's one of the beautiful things that we
Speaker 9: find inside of our accountability triad.
Speaker 2: So it's dope.
Speaker 3: Yeah, So we got that. Then we got the private
Speaker 3: Facebook group, which is an investment group, and that's a
Speaker 3: community within itself, over four thousand members in there. And
Speaker 3: then we have bi weekly real estate calls Jail Mortgage
Speaker 3: God every other Sunday, MG he gets on it. It's
Speaker 3: just like a two hour, three hours, sometimes even four hours,
Speaker 3: just real estate call and they just talk about a
Speaker 3: variety of different real estate calls. And then once a
Speaker 3: month I do financial planning calls. Everybody knows I'm a
Speaker 3: financial advisor, and what happened is that I put my
Speaker 3: schedule up and it just became too much. It became
Speaker 3: overwhelming for me to actually take calls. So I limited
Speaker 3: that and I realized that a lot of people had
Speaker 3: the same question. So every single month, sit down for
Speaker 3: about two hours on a Saturday and we talk about
Speaker 3: financial planning and go over different stuff life, insurance, retirement,
Speaker 3: you know, just different financial planning topics, so all of that,
Speaker 3: and then we have orientation orientation.
Speaker 5: Yeah.
Speaker 9: Yeah, so every month now that we get new earners
Speaker 9: coming in and we're treating it like the school, right
Speaker 9: eyl University, we have orientation. So some people get they
Speaker 9: come into and they're just like overwhelmed by the information because,
Speaker 9: like I said, we're not just capping when we're telling you, like,
Speaker 9: there's a lot of courses, a lot of content. So
Speaker 9: we have an orientation that can help you and guide
Speaker 9: you through that process, walk you through it, find a
Speaker 9: track for you, right because some people may say, like
Speaker 9: real estate is not my thing, Well we got over
Speaker 9: seventy courses, what is your thing? And so you find
Speaker 9: the track and you follow it and that's kind of
Speaker 9: what makes it dope about having accountability partners and trias
Speaker 9: is that you're going to find people who are on
Speaker 9: similar tracks. So everybody's pushing forward in the same direction,
Speaker 9: whatever direction you choose.
Speaker 3: Yeah, that's a fact. So yeah, so I say, I
Speaker 3: have to say, this is like open house. Once a
Speaker 3: month we do this open house situation, and it's a lot.
Speaker 3: It's a lot. So the reason why, like the price
Speaker 3: keeps going on and it's still undervalue. It's three hundred
Speaker 3: and sixty dollars for the entire year, but we're adding
Speaker 3: to it, so it's an ongoing thing. So as we
Speaker 3: add to it, we have different overhead, we have staff, now,
Speaker 3: we have different you know. So this we have we're
Speaker 3: running a promo code forty percent off for the whole
Speaker 3: entire year annual membership and three hundred and sixty dollars,
Speaker 3: which is, like I said, that's like a night in
Speaker 3: Atlanta for twenty four hours, twenty four hours from right
Speaker 3: now twenty four hours, and then after that you can
Speaker 3: still join. It's just you know, slightly higher membership. It's
Speaker 3: like a stock once you get in. Some people got
Speaker 3: it are ninety nine dollars and it's only going up
Speaker 3: from there because it's just added value. We're gonna make
Speaker 3: this bigger than Phoenix University. This is going to be
Speaker 3: the biggest online university in existence. So I'm gonna put
Speaker 3: the link in and it's only for the link. Can
Speaker 3: we try to make this as easy as possible. There's
Speaker 3: no code or anything, it's just the link. The link.
Speaker 3: I'm gonna pin the link in YouTube. It's in the
Speaker 3: description if you want to join forty percent off twenty
Speaker 3: four hours. So Chris, let's get into it, all.
Speaker 5: Right, let's go. Let's go. Let me see. I'm share
Speaker 5: my screen.
Speaker 3: Does he have to do something to share it or no?
Speaker 2: He's now okay, Yeah, I got it.
Speaker 3: Yeah. Chris is a tech guy, so I know he.
Speaker 2: Knows engineer in his own right.
Speaker 5: Chris is okay, let's see.
Speaker 2: Yeah, we see you over here.
Speaker 7: Okay, let me make sure it's not let me see
Speaker 7: slash over from the beginning.
Speaker 5: There we go, all right, So how to buy the block?
Speaker 7: I appreciate the opportunity guys, for y'all to have me
Speaker 7: on today. This This topic is very near and dear
Speaker 7: to me because I've been an investor since two thousand
Speaker 7: and eight, I did the typical fix and flip model
Speaker 7: at the wholesale model, and what I realized was that, man,
Speaker 7: sometimes it's such a capitalistic business and you're trained by
Speaker 7: other capitalists that don't have the same background as you,
Speaker 7: that they'll train you do some things that actually come
Speaker 7: sometimes can't hurt the community, or they'll they'll teach you
Speaker 7: how to make money in the community, but not actually
Speaker 7: own the community long term. And so for me, I
Speaker 7: just had an AHA moment one day and I had epiphany.
Speaker 5: I was like, well, you.
Speaker 7: Know, we're always talking about these things that happened in
Speaker 7: our neighborhoods, and I know other people that look like
Speaker 7: me that are investors, but nobody is really talking about
Speaker 7: how to tackle this challenge, this gentrification issue.
Speaker 5: How do we start controlling these neighborhoods again.
Speaker 7: So that's been my mission since about twenty twelve, in
Speaker 7: twenty thirteen, when I bought that first block that you
Speaker 7: talked about. So let's just start with the definition of gentrification,
Speaker 7: the process by which a part of a city changes
Speaker 7: from being a poorer area to a richer one and
Speaker 7: people from a higher social class are beginning to move in.
Speaker 7: Usually if no one advocates for the poorer residents, they
Speaker 7: become displaced.
Speaker 5: So let's get this out the way.
Speaker 7: I saw the posts that y'all made earlier, and I
Speaker 7: saw the comments under the post, and it's like, man,
Speaker 7: we all know the problems. We all know about slavery,
Speaker 7: we all know about red lining, we all know about
Speaker 7: all the other injustices that we have. At some point
Speaker 7: we got to start focusing on the solutions to these problems.
Speaker 7: And it's okay to regurgitate them, and it's okay to
Speaker 7: be debater, it's okay to be a historian, but what
Speaker 7: about the future? Like and this quote by Will Smith
Speaker 7: when he first got on Instagram always resonates with me.
Speaker 7: It's like, it may not be your fault that something
Speaker 7: happened to you, but it's damn sure your responsibility to
Speaker 7: fix it.
Speaker 5: And so that's exactly where I am.
Speaker 7: So my mission changing their gentrification through redevelopment that balances
Speaker 7: the opportunity to attract higher income people originally from similar
Speaker 7: communities out of the suburbs while ensuring existing residents are
Speaker 7: not displaced in the process. So let's talk about revitalization
Speaker 7: and plus gentrification always a debate. Okay, so everything has
Speaker 7: a life cycle, including a neighborhood. It has a life cycle, guys.
Speaker 7: So everything has to start over at some point or
Speaker 7: either it's just gonna die.
Speaker 5: You know. We can't just let everything.
Speaker 7: Stay where it is, So we either revitalize and have
Speaker 7: community controlled narrative or we stand back and let somebody
Speaker 7: else do it from the sideline, right. And then that's
Speaker 7: control specifically by outside groups that want profit, and that's
Speaker 7: what we usually associate with the term gentrification with. So
Speaker 7: then you know, like I said, I was doing this
Speaker 7: back in twenty and thirteen, twenty fourteen, but this trendy phrase
Speaker 7: came up, you know, about two years ago, called buying
Speaker 7: the block, and I'm like, okay, wait a minute, I
Speaker 7: guess I guess that does define what I'm doing.
Speaker 5: So we are we are trying to acquire and.
Speaker 7: Control the redevelopment of real estate in our historic neighborhoods.
Speaker 7: So let's talk again about the problems we all know
Speaker 7: about and the history that we don't think to mention.
Speaker 7: Sometimes all these neighborhoods are disadvantaged for the most part,
Speaker 7: but they once thrived with people from all economic classes.
Speaker 5: And what do I mean by that, well, before.
Speaker 7: Desegregation, all of those vacant rundown commercial buildings you see
Speaker 7: in these poor neighborhoods used to be vibrant businesses. The doctors,
Speaker 7: the lawyers, the carpenters, the movie theaters, the restaurants. Everything
Speaker 7: that we did not have the rights to patronize in
Speaker 7: another community was in these communities, and we patronized all
Speaker 7: of those things.
Speaker 5: So let's not think.
Speaker 7: About it as always been a horrible place to be.
Speaker 7: At one point in time, it thrived. Here's another thing
Speaker 7: to look at. Businesses like grocery stores are scarce in
Speaker 7: our communities, but when these neighborhoods thrived during that same timeframe,
Speaker 7: the businesses were actually owned by the people in the community,
Speaker 7: and they were sustainable. So if it happened before, it
Speaker 7: can happen again. So my goal has been, how do
Speaker 7: we go in these neighborhoods. How do we buy the
Speaker 7: block and do it without displacing existing residents. So it
Speaker 7: took me about two or three years to really come
Speaker 7: up with a model.
Speaker 5: That would work.
Speaker 7: I bought the property in twenty thirteen, but I really
Speaker 7: didn't know what I was going to do with it,
Speaker 7: and you know, eventually I came in and I put
Speaker 7: these key pieces together so we can go in the
Speaker 7: communities that we can invest in the vacant property, in
Speaker 7: the abandoned property, and the neglected property, the drug houses,
Speaker 7: the houses that that attract criminal activity. Right, not going
Speaker 7: on knocking on doors asking the seniors to sell their house,
Speaker 7: not taking advantage of people that are, you know, in
Speaker 7: desperate financial situations. Let's focus on these properties in the
Speaker 7: first bullet, number one, number two.
Speaker 5: Try to keep rental rates affordable.
Speaker 7: If you're going to go in the community and buy
Speaker 7: rental properties, okay that what that means is sometimes you're
Speaker 7: taught go in and renovate it and make it as
Speaker 7: nice as possible, which means your investment has to be
Speaker 7: larger on the front end.
Speaker 5: In exchange, you have to demand more for the rent.
Speaker 7: Right, But if you can buy a rental property that's
Speaker 7: in decent condition and the tenant is happy with the
Speaker 7: way it is, you don't have to invest so much
Speaker 7: on the front end. You can still structure a deal
Speaker 7: where you get a good return if you're a good negotiator,
Speaker 7: where you buy it at.
Speaker 5: The right price so then the person can stay right there.
Speaker 5: Where they are.
Speaker 7: The third component is one of the hardest components. How
Speaker 7: do we prevent home ownership loss due to higher taxes.
Speaker 7: That's going to be more of a political play where
Speaker 7: we have to get with politicians that do this and
Speaker 7: other It's already implemented in some cities where if you've
Speaker 7: owned your home for longer than a certain amount of time,
Speaker 7: you're exempt from property tax increases. And you know, so
Speaker 7: that needs to be something that we need to focus
Speaker 7: on in these communities to make this by the block
Speaker 7: model really work without being a detriment to the community. Okay,
Speaker 7: So when is the right time to buy in these neighborhoods. Okay,
Speaker 7: here's a couple of key points. I'm not talking about
Speaker 7: a war zone. I'm not talking about anywhere still is
Speaker 7: super hood, you know. We are talking about areas in
Speaker 7: the communities where there's already some sign of something positive happening. Okay,
Speaker 7: and just remember, even if you see an abandoned community
Speaker 7: that looks like it has a lot of potential.
Speaker 5: Bullet number two is very important.
Speaker 7: It's harder for you to spark this revitalization and get
Speaker 7: a return on investment if you are the only catalyst
Speaker 7: you have to go in the communities where there's already
Speaker 7: something kind of going on and we still have an
Speaker 7: opportunity to step in front of it.
Speaker 5: And instead of.
Speaker 7: Trying to stop, know, the redevelopment and calling it gentrification,
Speaker 7: let's participate in it. Let's control the narrative. Let's control
Speaker 7: parts of everything that's going on in the community. Okay,
Speaker 7: So things you want to look for when you see
Speaker 7: announcements of projects in the newspaper, on the news, city
Speaker 7: council meetings, from other people that are in real estate
Speaker 7: that you know, people that are networking with developers or builders,
Speaker 7: people you know in your community that are investors. You
Speaker 7: know when you hear these types of announcements, and that
Speaker 7: lets you know something is coming. You know, the second
Speaker 7: Burger King figures out where McDonald's put a land purchase
Speaker 7: contract in, they're going to try to buy land right
Speaker 7: next to them, right same thing with Walgerys and Cvs.
Speaker 7: So as the smaller guys in this play, as we're
Speaker 7: trying to independently control and buy back these blocks, we
Speaker 7: need to be following the big boys. You know it's
Speaker 7: gonna happen. We can't fight them, we can't stop them.
Speaker 7: So we might as well participate. Another good thing to
Speaker 7: look at is a city activity.
Speaker 5: Uh when when when when a.
Speaker 7: City activity picks up in a neighborhood On the private
Speaker 7: real estate side, Okay, when a particular neighborhood where you
Speaker 7: didn't see a new construction before, now you start seeing
Speaker 7: for sale signs and you see active construction work going on,
Speaker 7: that's probably a good community, especially if it's.
Speaker 5: One of our communities.
Speaker 7: That's a good time for you to start saying, Okay,
Speaker 7: this might be a neighborhood that I might want to
Speaker 7: look at, trying to buy a block with okay, and
Speaker 7: then the city initiatives to spark redevelopment. That's on the
Speaker 7: public side. So when you see the city going into
Speaker 7: community and they're repaving streets and they're putting in sidewalks,
Speaker 7: and they're updating signs, and they're putting in bike paths,
Speaker 7: they're doing all of that because that's kind of the
Speaker 7: extent that the public the government can do to entice developers.
Speaker 7: They want developers to see this and investors to see
Speaker 7: this and say, Okay, this is a neighborhood I want
Speaker 7: to be in. So if you look for these signs
Speaker 7: before all the houses have gone up and before everything
Speaker 7: looks nice. These are neighborhoods that we should be trying
Speaker 7: to buy the block in, especially if they're communities. So
Speaker 7: how do we successfully execute buying back to block?
Speaker 5: Okay?
Speaker 7: So number one, when it comes to buying blocks, if
Speaker 7: you're gonna do something bigger than individual houses, you don't
Speaker 7: want to get a big plan together.
Speaker 5: You don't want to spin your wheels on things if
Speaker 5: you do not have site control.
Speaker 7: Site control is the single most important part of that process,
Speaker 7: because what happens is you put this tremendous plan together
Speaker 7: and either the seller decide they don't want to sell,
Speaker 7: or you don't have all of the properties together that
Speaker 7: you need for the project, or they get wind of
Speaker 7: something else and they increase their price on you, and
Speaker 7: so all of these factors will end up with you
Speaker 7: doing all this work, all this planning, and then you
Speaker 7: have no property to actually use it for. So all
Speaker 7: that time and money is wasted. Right, So there's several
Speaker 7: ways you get site control. Number one, just make sure
Speaker 7: you have the property under a solid contract at a
Speaker 7: set purchase price with a certain timeframe on it. Okay,
Speaker 7: that way, if it's one piece of property that you
Speaker 7: need for this entire project, then you know you have
Speaker 7: control of that. Number two is kind of, you know, obvious,
Speaker 7: outright purchase, but that's not practical in most situations. Just
Speaker 7: going out and buying a whole block and paying for
Speaker 7: cash is not really practical. And then the third one
Speaker 7: is an option to purchase. So if you have a
Speaker 7: project that you want to that you want to take on,
Speaker 7: and let's say it's five or six different owners, seven
Speaker 7: different owners, and you don't know if all of them
Speaker 7: are gonna want to sell, You don't know if their
Speaker 7: price points are going to be reasonable if they do
Speaker 7: want to sell, what you want to do is execute
Speaker 7: options to purchase. And what that is is you go
Speaker 7: from owner to owner and you say, hey, mister owner,
Speaker 7: let's negotiate. Let's come to a price that we both
Speaker 7: agree on. I'm not buying your property today, but if
Speaker 7: you give me a year, you give me two years,
Speaker 7: and I can pull this thing together that I'm trying
Speaker 7: to do.
Speaker 5: You have to allow me to buy your property at
Speaker 5: this price.
Speaker 2: Okay.
Speaker 7: In exchange for that, I'm gonna give you this money.
Speaker 7: Could be one thousand dollars, could be five hundred dollars.
Speaker 5: Whatever.
Speaker 7: Hey, if you never hear from them again, this is
Speaker 7: your thousand dollars, you know. But if I come back
Speaker 7: to you and I'm ready to buy, then we have
Speaker 7: to follow through on this contract. And so that allows
Speaker 7: you to control each individual partial until you get them
Speaker 7: all together for the project that you're trying to do. Okay,
Speaker 7: next most important step is planning and design, because you
Speaker 7: have to really understand what's going to take to pull
Speaker 7: this concept off that you're trying to implement. Now, if
Speaker 7: you're buying, if you're trying to buy more than one
Speaker 7: property in their rental properties, like I said earlier, and
Speaker 7: there's already tenants there, then you know this process is
Speaker 7: going to be a lot easier for you because you
Speaker 7: don't have a lot of work to do on the
Speaker 7: front end, right, You don't have a lot of expenses
Speaker 7: that in the real estate development world is called soft costs.
Speaker 7: These are things that are intangible, like once you spend
Speaker 7: the money, the money's gone. Once you pay an architect
Speaker 7: for design work, whether the project gets started or not,
Speaker 7: that's gone, right, The permitting fees, paying for engineers, all
Speaker 7: that kind of stuff. Construction, of course, construction is going
Speaker 7: to be one of your biggest expenses, because you want
Speaker 7: to make sure that while you have psyche cont you
Speaker 7: really understand what the cost of this entire project is
Speaker 7: going to be. And then you want to make sure
Speaker 7: that planning and zoning and city ordinance or whatever in
Speaker 7: your area and just the general city permit approvals are
Speaker 7: in place for you to be able to execute your project.
Speaker 7: And most importantly all of this is really that all
Speaker 7: of that comprises feasibility of rather.
Speaker 5: Buying this block and doing whatever you plan to do
Speaker 5: with it really makes sense. Okay.
Speaker 7: Now, so after you get site control and you've got
Speaker 7: a good plan together, then you have to figure out
Speaker 7: how you're actually going to take down the project and
Speaker 7: how you're going to start the project. So my number
Speaker 7: one go to is what's been working for me in
Speaker 7: Houston is seller financing. If I would have waited in
Speaker 7: twenty thirteen for a bank to tell me that I
Speaker 7: was bankable to buy a whole block, and I was
Speaker 7: waiting for a bank to tell me that a block
Speaker 7: in the hood was worth a certain amount of money
Speaker 7: when there was no recent sales and it was full
Speaker 7: of and drug infestation, you know, I would have never
Speaker 7: got that product off the ground. So, but what happens
Speaker 7: when you go to somebody that owns the property outright? Okay,
Speaker 7: that means it's probably been in their family longer than
Speaker 7: thirty years, or maybe passed down from generation to generation,
Speaker 7: and they have the right, the free and clear right
Speaker 7: to do whatever they want the property.
Speaker 5: You can negotiate with them.
Speaker 7: And so for one of my properties, I'm gonna show
Speaker 7: you in a case study. One of them, I negotiate
Speaker 7: ten percent down to buy a whole block. The second
Speaker 7: one I had to come to the table with fifty
Speaker 7: percent of the agreed upon purchase price. But then you
Speaker 7: make payments to them instead of making payments to a bank,
Speaker 7: and they're not gonna check your credit score, they're not
Speaker 7: gonna do a background check, they're not going to ask
Speaker 7: you about other things. Because when sellers finance something directly
Speaker 7: to you, they know that if you default, they can
Speaker 7: just take the property back and they can start the
Speaker 7: process over do the same thing again.
Speaker 3: Right.
Speaker 5: So that's a trick, Well, that's not really a trick.
Speaker 7: That's a technique that we need to implement more often
Speaker 7: when we're trying to get in our communities and do.
Speaker 5: These things so something else.
Speaker 7: If they don't agree to that, or if they do
Speaker 7: agree to that, but you don't have enough money for
Speaker 7: the down payment, start off with a small group of investors.
Speaker 5: Maybe I would always suggest you have somebody.
Speaker 7: On your team that's experienced with investing, and you know,
Speaker 7: have them come on a team and help you through
Speaker 7: the process.
Speaker 5: I highly, I highly.
Speaker 7: Suggest you don't do it if you're all newbies and
Speaker 7: you have nobody on the team, because what may seem
Speaker 7: like a good deal may not be a good deal.
Speaker 5: And then third is crowdfunding.
Speaker 7: Crowdfunding is what I did for one of my projects,
Speaker 7: but I didn't do a crowdfund until I had been
Speaker 7: in real estate investing for almost thirteen years.
Speaker 5: Okay, so a lot of people ask about it.
Speaker 7: But when you take other people's money, you know, and
Speaker 7: you and you were trying to complete a project, all
Speaker 7: those bullet points before that got to be spot on
Speaker 7: because people are not giving you donations, they are giving
Speaker 7: you money, and they are expecting their money back and
Speaker 7: they're respecting a profit on top of that. So you know,
Speaker 7: you got to be really careful when you get in
Speaker 7: that round. And most importantly of all these things is
Speaker 7: the right team. You can have the right plan, you
Speaker 7: can have all every every box checked, but if you
Speaker 7: don't have the right team to execute on buying back
Speaker 7: the block, it would be very hard for you to
Speaker 7: be successful. Now, the most important key is that we
Speaker 7: all have to participate.
Speaker 5: And this is what I mean by that.
Speaker 7: The investors need to be participating this. Okay, we need
Speaker 7: to be actively looking to buy in our communities.
Speaker 5: Okay, if you're a.
Speaker 7: Landlord, maybe you don't want to actually live in the community,
Speaker 7: but you have rental properties. You should be trying to
Speaker 7: control rental properties in these same neighborhoods. And you can
Speaker 7: maybe maybe one investor has bought the block and renovated
Speaker 7: the block, and now they're selling the homes to other people. Well,
Speaker 7: you as an investor should come in and buy some
Speaker 7: of the properties from that developer so that the ownership
Speaker 7: transfers from us to us.
Speaker 3: Right.
Speaker 7: And then you, as someone who looks like the community,
Speaker 7: should be looking out for people in the community and
Speaker 7: have a vested interest in not being a slumlord and
Speaker 7: taking care of the community. Of course, realtors play an
Speaker 7: integral part of it. Why because when you have buyers,
Speaker 7: when you have investors, when you have renters, you should
Speaker 7: be telling them about all of the investors, landlords, developers, builders,
Speaker 7: you know in the community, and trying to steer them
Speaker 7: to these neighborhoods. First, once again, I'm not talking about
Speaker 7: war zones, okay, I'm talking about areas that there's already
Speaker 7: some sign of revitalization.
Speaker 5: And lastly, and most importantly, the regular buyers.
Speaker 7: Like for my development that I'm show you in the
Speaker 7: second all my buyers look like us, young working professionals.
Speaker 7: It's not as bad. It's not the hood that sometimes
Speaker 7: people say it is. You have to be very aware
Speaker 7: of what outside narratives are versus what's really there. So,
Speaker 7: as a buyer, if you're in a community and some
Speaker 7: of those other signs have already talked about are happening,
Speaker 7: if you see redevelopments starting, if you see a lot
Speaker 7: of activity in the community, if you see the city
Speaker 7: putting things in, guess what, that city's already got that
Speaker 7: neighborhood on their radar, even though it may not be.
Speaker 5: Perfect yet, it's coming.
Speaker 7: And usually what happens is we go to the community
Speaker 7: one day and it's the hood, and we go back
Speaker 7: a year later and it's a million dollar homes and
Speaker 7: we're like, what happened and we're mad and it's gentrification.
Speaker 5: It's like, no, what really happened was.
Speaker 7: From the time you left, other people saw value in
Speaker 7: that community and they started buying.
Speaker 5: And not everybody's buying rental properties. People are really moving
Speaker 5: in that community.
Speaker 7: They're walking their dogs, they're riding their bikes, and their
Speaker 7: values are steadily going up, steadily going up. And then
Speaker 7: by the time we get wind of what's going on
Speaker 7: in the community, the prices is so high we can't
Speaker 7: afford it, right, So that's usually what happens.
Speaker 5: So ty Shot, I know I'm talking a lot man.
Speaker 2: That.
Speaker 3: Got it.
Speaker 2: I'm actually taking notes.
Speaker 3: Yeah, I hope everybody on YouTube please hit the like button,
Speaker 3: and I hope people greatly appreciate this because it's like
Speaker 3: nobody's doing this, like nobody, And that's the reason why
Speaker 3: we created Eyo University. Like I said, it's a it's
Speaker 3: a business school, but do you know you don't learn
Speaker 3: this stuff in business schools. And this is just the beginning.
Speaker 3: Like he still got more to talk about. But it's
Speaker 3: like people talk about by the buy back the block,
Speaker 3: what does that mean? What does that mean?
Speaker 2: Right now we're even calling.
Speaker 3: So this was like, all right, this is this is
Speaker 3: a step by step blueprint from somebody that has is
Speaker 3: actually doing it and has actually done it. So now
Speaker 3: I keep going bro.
Speaker 2: Chris real real quick.
Speaker 9: So some of those signs, are there any other type
Speaker 9: of retail or commercial real estate that we should be
Speaker 9: looking for for a sign?
Speaker 2: And I know somebody in the chat sai Yo when
Speaker 2: you see a Starbucks or.
Speaker 5: Usually so that's not that we have a misconception about, right.
Speaker 7: So usually like we get mad when grocery stores and
Speaker 7: those types of businesses leave the community, But those businesses
Speaker 7: have whole departments that before they buy, before they figure
Speaker 7: out where their location, their site selection team pulls the
Speaker 7: demographics and they say, what's the average income in this community?
Speaker 5: Do these people.
Speaker 7: Earn enough and do they have enough disposable income to
Speaker 7: support our business? Right, So you're not going to see
Speaker 7: commercial signs going in until almost too because all the
Speaker 7: incomes in that area are already going to be so
Speaker 7: high and they're going to be buying houses at such
Speaker 7: high prices, and you know, the prices continue to go
Speaker 7: up that it becomes priced out for us. So what
Speaker 7: the way development usually works is the rooftops come first,
Speaker 7: the houses come first, the new residents with the higher
Speaker 7: incomes come in first. And the only way you get
Speaker 7: ahead of that wave is by looking at those signs that.
Speaker 6: I told you earlier.
Speaker 5: But yeah, it's almost almost like you see a Starbucks.
Speaker 5: It's almost too late.
Speaker 9: Yeah, they made me thinking, like whole foods don't end
Speaker 9: up in every neighborhood, you know what I mean?
Speaker 7: Right, they don't, and people don't speaking of the whole foods,
Speaker 7: people don't realize like a grocery store has the lowest
Speaker 7: profit margins of almost any business, is usually three to
Speaker 7: five percent, So they're not going to go in the neighborhood.
Speaker 7: Even if the city gives them all the money to
Speaker 7: build the facility, they still have they have to float
Speaker 7: every month. They got to be operating positive, right, So,
Speaker 7: I mean the grocery store is the highest profitability is
Speaker 7: on the fresh produce, on the meats, and the stuff
Speaker 7: on the shelves.
Speaker 5: It's not really very profitable.
Speaker 7: So if you're in a community where people are buying
Speaker 7: everything off the shelf, in the cans and in the boxes,
Speaker 7: and you got this huge overhead.
Speaker 5: From all these employees and you.
Speaker 7: Got this huge overhead from this huge lease you got,
Speaker 7: and you got this high utility bill. You know, it's
Speaker 7: highly unlikely that you're going to be profitable if you
Speaker 7: try to go into one of those neighborhoods for the
Speaker 7: sake of you know, social service, right, I mean, they
Speaker 7: have to run a business at the end of the day.
Speaker 3: Yeah, and YouTube, if you could like this, two things
Speaker 3: I need from YouTube everybody, Like, we got nine hundred
Speaker 3: and ninety seven people. There's no reason why we shouldn't
Speaker 3: have nine hundred and ninety seven likes. If you didn't
Speaker 3: like it, just politely comment why you why you thought
Speaker 3: the information wasn't valuable enough to like, it doesn't even
Speaker 3: cost anything, doesn't won't even burn a calorie. And then
Speaker 3: also share it with somebody, just going like this is
Speaker 3: life changing, generational changing information that you know, giving out
Speaker 3: right now, like you know, share it with people, and
Speaker 3: shout out to MG the mortgage guy, and shout out
Speaker 3: to Brandon Rules legend himself, and shout out to Andre Hatchett,
Speaker 3: the first teacher that we ever had for Eyo University.
Speaker 3: That's my guy man for sure, And yeah, for sure
Speaker 3: for sure. So all right, Chris and then somebody said
Speaker 3: on YouTube days like a fifth ward isn't the hood hood? Yeah,
Speaker 3: that's kind of the whole point of what he said,
Speaker 3: Like you don't want to go into the market slightly dangerous,
Speaker 3: You don't want to you don't want to invest in
Speaker 3: a full war zone like like slightly dangerous.
Speaker 7: Yeah, yeah, I mean it's something where the you know,
Speaker 7: the criminal criminal activity is going down significantly and there's
Speaker 7: more police patrols coming and all that kind of stuff.
Speaker 7: You know, you have to be there, So that's the
Speaker 7: only way you're really participating. And I understand the people
Speaker 7: that have like young kids or feel uncomfortable in those situations. Yeah,
Speaker 7: I'm not saying I'm not forcing you too. I'm just
Speaker 7: saying with my projects, I have buyers that specifically chose
Speaker 7: to come from the communities and they have had zero issues,
Speaker 7: Like they have had not a single issue. So, you know,
Speaker 7: it's all about perspective. And we talk about schools and
Speaker 7: education a lot. Thankfully in a big city like Houston,
Speaker 7: there's a lot of charter schools, a lot of private schools,
Speaker 7: so you have alternatives to the public school system until
Speaker 7: that public school system catches up.
Speaker 5: In that neighborhood.
Speaker 7: But in the same time, you think about this if
Speaker 7: you buy Okay, I'll give you an example. There was
Speaker 7: a lady that went to the Third Ward, like the
Speaker 7: hood part of the Third Ward worse than where y'all stayed,
Speaker 7: but the first house had been renovated Middle ai'ed. White
Speaker 7: lady was like one of the last people walking out
Speaker 7: of an open house. And my boy was there, and
Speaker 7: he said that ninety percent of people that walked through
Speaker 7: this open house and the hood part of the Third
Speaker 7: War were white. So he said that curiosity got the
Speaker 7: best of him. He stopped her and asked her. He's like,
Speaker 7: why are you here and what attracts you to this area?
Speaker 7: And she was like, oh, I bought my house in
Speaker 7: the Heights, in which is another neighborhood that's been gentrified
Speaker 7: for about fifteen sixteen years. She's like, I bought my
Speaker 7: house in the Heights about fifteen years ago, and the
Speaker 7: neighborhood looked just like this, and my property value is
Speaker 7: going up three hundred thousand dollars. So I'm about to
Speaker 7: sell that house and come over here and do the
Speaker 7: same thing. And I'm like, well, man, imagine the more
Speaker 7: of us thought about that. Imagine what the average household
Speaker 7: income or the average average household network be for our community.
Speaker 7: And imagine how many of our children we could pay
Speaker 7: to go to college out the equity in our homes.
Speaker 5: Notught like that.
Speaker 3: That's a lot of information. That's that's a that's a
Speaker 3: gym right there, man, that's a gym right there.
Speaker 2: We got to get to Houston, man.
Speaker 3: I can't wait to come back to here.
Speaker 2: Yo, mister Dunlop, we're paging you, all right, Yeah.
Speaker 7: I'm gonna run through the case studies real quick. So
Speaker 7: let's talk about fifth Ward. People talking about not the hoods.
Speaker 7: So let's go through it. So settling the middle eighteen hundreds,
Speaker 7: believe it or not, Middle eighteen hundreds to nineteen hundred,
Speaker 7: it was actually half it was mixed, uh white and black.
Speaker 7: It was annexed to the city eighteen sixty six. By
Speaker 7: nineteen hundred, it's a predominantly black neighborhood with thriving businesses.
Speaker 7: And don't believe it, let me show you. This is
Speaker 7: Lions Avenue. This is the same street that one of
Speaker 7: my projects was on. This is this is from the fifties.
Speaker 5: On Lions Avenue. You see all types of businesses all up.
Speaker 7: And down the street. And you see who's walking up
Speaker 7: and down the street. This was a segregated neighborhood at
Speaker 7: that point in time. Okay, this is the other way
Speaker 7: down the same street. I mean I see tailors, I
Speaker 7: see movie theaters, I see pawn shops. You know, I
Speaker 7: see restaurants. Everything's in the community, right. But then in
Speaker 7: the nineteen sixties, when desegregation happened, two major freeways came
Speaker 7: through the community. Of course, all these negative impacts caused
Speaker 7: a lot of disinvestment, and then some of the redlining
Speaker 7: impacts also hurt the community, and by the nineteen seventies
Speaker 7: there was a mass exodus of the majority of successful people,
Speaker 7: the business owners. A lot of them had closed up
Speaker 7: shops because the patronage had gone down, the customers had
Speaker 7: moved out, and so the communities no longer thrived. But
Speaker 7: what that did is that that opened up opportunity for
Speaker 7: other people to come into the community. However, these are
Speaker 7: some of the other highlights, like the picture of the
Speaker 7: bottom on the writers, the first black hospital built in
Speaker 7: fifth Ward, actually in Houston, that we had, you know,
Speaker 7: recording studios.
Speaker 5: I mean, you know, these neighborhoods were thriving.
Speaker 7: So that's the part that I want people to remember
Speaker 7: when we think about these neighborhoods.
Speaker 5: They used to be graded if.
Speaker 7: We had a black wall street in every city, because
Speaker 7: we had to create our own. We couldn't we couldn't
Speaker 7: patronize other other neighborhoods. So this is the freeway that
Speaker 7: kind of came through. This is the same street in
Speaker 7: the same vicinity, like one block off, but you see
Speaker 7: now the only thing that's left. Thankfully, the churches are
Speaker 7: still there, but the neighborhood is a lot less activity
Speaker 7: going on, a lot A lot of the buildings are going now.
Speaker 5: So this is the property that I bought, which is
Speaker 5: infant Ward.
Speaker 7: That's the same freeway that you see in the back
Speaker 7: on the left side Highway fifty nine. So in twenty fourteen,
Speaker 7: I did what I was telling everybody to early.
Speaker 5: I was watching the city trend.
Speaker 7: I was watching redevelopment and it was going counterclockwise around downtown,
Speaker 7: and this was the last neighborhood that had not been
Speaker 7: touched by.
Speaker 5: Redevelopment or gentrification.
Speaker 7: So I was able to negotiate with this owner to
Speaker 7: buy this entire block for half a million dollars and
Speaker 7: negotiate ten percent down.
Speaker 5: Okay, so I actually sold a couple of rental properties.
Speaker 7: I had an investor put in a little bit, and
Speaker 7: I took control of this property. Everybody thought I was crazy.
Speaker 7: This was still the bloody nickel at that point in time.
Speaker 5: But I knew.
Speaker 7: I knew just by watching the redevelopment trending, eventually it
Speaker 7: was going to come because this was like literally the
Speaker 7: last quadrant around downtown that had not been redeveloped. Okay,
Speaker 7: so I actually paid over market value. Here's why there
Speaker 7: were no sales. There was no comps, So if you
Speaker 7: looked at the tax records, that's the all thing can
Speaker 7: go off of. It had the whole property worth about
Speaker 7: three hundred and fifty thousand.
Speaker 5: But what I.
Speaker 7: Knew taking a calculated risk by watching the redevelopment. It's like, well,
Speaker 7: if I'm not paying cash for it, and I'm only
Speaker 7: giving him fifty thousand right now, and I'm financing it
Speaker 7: for twenty thirty years, it's highly likely that by the
Speaker 7: time I get even close to paying this off, the
Speaker 7: value will have caught.
Speaker 5: Up and exceeded it.
Speaker 7: So what that does is it almost put you in
Speaker 7: a position where you're like kind of partnering with the owners.
Speaker 7: You know, you're telling them you're going to give him
Speaker 7: a little bit more over time than what the property
Speaker 7: is currently worth. But you have everything calculated and you
Speaker 7: know that the time you make whatever move you're gonna make,
Speaker 7: the value will have caught up and you will have
Speaker 7: equity on the back end. So okay, So I talked
Speaker 7: about this already. So twenty fourteen is when I bought it.
Speaker 7: Twenty sixteen the bet paid off two thousand and sixteen.
Speaker 7: This is the south end of Fifth Ward. One of
Speaker 7: the biggest developers in Houston bought one hundred and thirty
Speaker 7: six acres that used to be KBR used to be
Speaker 7: the National Defense contractor, right next to downtown, right on.
Speaker 5: The water and what we considered the hood.
Speaker 7: But of course they always find value when you know,
Speaker 7: when we don't find value, and they put this big
Speaker 7: plan together, do this massive project, and so that was
Speaker 7: the first catalyst in the community. So this again, this
Speaker 7: is the project site that they got. You see where
Speaker 7: downtown is and the stars where both of my projects are.
Speaker 7: So one of my projects is right here, the new
Speaker 7: construction townhome project where the grocery store is is right there.
Speaker 7: Now that's one mile radius. This one is like a
Speaker 7: little bit more than three quarter from my.
Speaker 5: RADI is what other project is?
Speaker 7: Okay, this is what's going to be built on that site.
Speaker 7: This is not speculation. This is what's going to be there.
Speaker 5: Okay. They've already they've already cleared.
Speaker 7: All of the old buildings, They've already done all the underground,
Speaker 7: different structure, they've run all the utilities. They did slow
Speaker 7: down a little bit because of COVID and some of
Speaker 7: the lumber prices and stuff going up, but the CEO
Speaker 7: said they're still moving forward with the project. So after
Speaker 7: that happened in twenty sixteen, here's another creative technique you
Speaker 7: can use. I talked the owner into converting from a
Speaker 7: owner finance note, which is like a mortgage note, to
Speaker 7: partnering with me. So what I said was, look, I
Speaker 7: still owe you like three hundred thousand. You can wait
Speaker 7: next twenty years to get it, or you can partner
Speaker 7: with me on this project and let me figure out
Speaker 7: how I can do some new construction, and then I
Speaker 7: can pay you out as I sell these houses on
Speaker 7: the back end, and you can be paid off in.
Speaker 5: Three or four years instead of waiting thirty years. Okay,
Speaker 5: so he agreed. So what did that do?
Speaker 7: That took the mortgage off of the property. So now
Speaker 7: I am the primary the primary partner, he's a limited partner,
Speaker 7: and I have this property. I can now go to
Speaker 7: the bank and say it's free and clear.
Speaker 5: I don't have any debt on it. Right.
Speaker 7: So then I used the property as collateral as I
Speaker 7: started shopping to get.
Speaker 5: The loans to do the redevelopment.
Speaker 7: But the downside, of course, what I talked about earlier,
Speaker 7: I had to go through twenty three different lenders before
Speaker 7: I got approved. No matter how great my plan was,
Speaker 7: there was no established marketability in this neighborhood because there
Speaker 7: was no new construction. Even though the redevelopment was that close,
Speaker 7: it was really hard for me to find a lender
Speaker 7: that would that would partner with me on the project.
Speaker 5: So you know, I had a private investor.
Speaker 7: Come in and put in an IRA money two hundred
Speaker 7: fift thousand. She she's a young black chick that worked
Speaker 7: for oil and gas company, worked for Shell for a while.
Speaker 7: She had a nice I R that she was that
Speaker 7: she wasn't using or sitting in the stock market, and
Speaker 7: you know, I showed her the vision, she believed in it,
Speaker 7: and she's like, okay, cool. I didn't take her money
Speaker 7: and spend it. I took it and put it in
Speaker 7: a bank account to show interest reserves to hope that
Speaker 7: hopefully would try to sweeten the deal with the lender.
Speaker 3: Chris, not to cut you off, but yeah, we did
Speaker 3: a we did a class on self directed iras too University,
Speaker 3: and I'm not sure if that's the path fe you went,
Speaker 3: but a lot of people don't even realize that you
Speaker 3: could actually use your retirement accounts like an IRA to
Speaker 3: invest in real estate without paying taxes. So I just
Speaker 3: wanted to throw that in.
Speaker 5: This and that's exactly right.
Speaker 7: When you have a self directed IRA, you can invest
Speaker 7: in any asset that you choose, and it's literally self directed.
Speaker 7: You just have a company that's basically a custodian for
Speaker 7: you to help you check boxes. But yeah, you can.
Speaker 7: You can invest it however you want. So that's something
Speaker 7: that you can leverage in real estate. So, like I said,
Speaker 7: there's challenges with no new construction. Also, when I got
Speaker 7: ready to start the project, what I realized is like
Speaker 7: a lot of these older neighborhoods, there's a lack of
Speaker 7: utility infrastructure.
Speaker 5: So this old.
Speaker 7: Grocery store didn't have much plumbing, you know, it wasn't
Speaker 7: drawing much electricity. And when I got ready to do
Speaker 7: my new project, I realized that the city was going
Speaker 7: to require me to update a lot of this infrastructure.
Speaker 5: So that's something that you got to think about if
Speaker 5: you're planning on doing.
Speaker 7: Projects on this scale, something that you usually don't think
Speaker 7: about when you're just flipping the house or building one
Speaker 7: or two houses on a lot, because usually that what
Speaker 7: you're building will not impact the infrastructure greatly. But when
Speaker 7: you're trying to do a bigger project, you do have
Speaker 7: to consider those things. So this talks about more twenty
Speaker 7: seventeen now redevelopment. Remember that first neighborhood. I I told
Speaker 7: you all about the Heights. Now see twenty seventeen. Three
Speaker 7: years later it's in the newspaper they calling Fifth or
Speaker 7: the New Heights.
Speaker 3: That's how it happens, once they start renaming neighborhoods. Once
Speaker 3: I've seen Sobro, Yeah, so Bro, you know what Sobro is. No,
Speaker 3: it was that South Bronx.
Speaker 5: South Bronx.
Speaker 3: Yeah, that was one of the most dangerous neighborhood support
Speaker 3: one of the more poorest neighborhoods in America, one of
Speaker 3: the most dangerous neighborhoods in America. It's still not the greatest.
Speaker 3: But when they started naming it so Bro and they
Speaker 3: put like a wholes and all of that, and it's like,
Speaker 3: all right.
Speaker 7: Ye, don't say that because the official name for that
Speaker 7: for that south in the fifth one. Now they call
Speaker 7: it North Eto, which is east of downtown.
Speaker 3: Yeah. That's another that's another thing too. Once you start
Speaker 3: to see names, because it's like even know how I
Speaker 3: think it was nor North Manhattan No.
Speaker 2: No, no, no, that was Houston.
Speaker 3: No no, no, they had it. They try to rename
Speaker 3: Harlem something like North Manhattan.
Speaker 10: No.
Speaker 3: Yeah. And so once they start to get funny with
Speaker 3: those names like so Bro no ho, that's like the
Speaker 3: hipsters they trying to they try to rebrand it.
Speaker 7: They there trying to rebrand the community those are you
Speaker 7: talking about has a stigma that the old name has
Speaker 7: a stigma, so they want to try to, like you said, rebranded.
Speaker 2: Yeah, So that that's part of the announcement.
Speaker 9: So when you were talking about announcements, when you start
Speaker 9: seeing things like that I saw somewhere and you can
Speaker 9: correct me if if I'm wrong, but they named the
Speaker 9: Fifth World.
Speaker 2: They have a Cultural Arts district.
Speaker 7: Yes, yes, now now thankfully with this with this time,
Speaker 7: it was us doing that. So the Fifth World Redevelopment
Speaker 7: Corporation did that Culture Arts District, and it's it's gonna
Speaker 7: be You're right, it's going to be the first African
Speaker 7: American culture Arts district in Houston.
Speaker 2: Perfect.
Speaker 5: Perfect, yeah, man. So that's what I'm saying.
Speaker 7: This neighborhood, they've been staying ahead of you know, not
Speaker 7: not playing victim.
Speaker 5: And being behind. They've been in front of the ball.
Speaker 5: So it's been really good.
Speaker 7: So this goes back to this is the CEO recently
Speaker 7: in August, you know, amidst covid just saying that the
Speaker 7: project is still going forward. Right, So this is that
Speaker 7: same block. This is the same block that I showed
Speaker 7: you earlier. That's what it looks like now.
Speaker 3: And that that that's your block.
Speaker 2: That's your block, man. You pulled up on that.
Speaker 3: Yeah, yeah, man, put put that. Put the clap in
Speaker 3: the movie. I just want to know you gotta celebrate that, man,
Speaker 3: because yeah, I wish we could do it side by side,
Speaker 3: But that blo I think he brought earlier.
Speaker 5: Yeah, let me go back to it.
Speaker 3: Yeah, can you go back to that? Yeah, so that block,
Speaker 3: you brought that block? And then how many years later.
Speaker 7: So twenty fourteen, and then twenty nineteen, twenty eighteen when
Speaker 7: when I first started building them, So twenty nineteen they
Speaker 7: were the first three were done. I think that's when
Speaker 7: I was on y'all show last year, and you know,
Speaker 7: people told me that they were like, man, nobody's gonna
Speaker 7: buy that. You know, nobody's gonna want to live in
Speaker 7: the neighborhood. You know you're not gonna be able to
Speaker 7: get the prices that you're thinking you're gonna get for them.
Speaker 7: And I mean, I proved everybody wrong. I got I
Speaker 7: got full asking price. All the buyers looked like me, everybody.
Speaker 7: I didn't have to oversell anybody. There's enough of us
Speaker 7: that see the value of moving back to our communities.
Speaker 5: That you know it's worth it.
Speaker 7: It's worth it's worth taking a shot, it's worth of
Speaker 7: rebuilding and bringing people back to the community.
Speaker 2: Man.
Speaker 7: One of one of the most powerful experiences I had
Speaker 7: was when I was under construction.
Speaker 5: It's two two black kids walked down the street.
Speaker 7: Two boys, they were like maybe thirteen fourteen some like that,
Speaker 7: and they're like, man, you're building rent houses and I'm
Speaker 7: like no. He's like he's like, you work for the
Speaker 7: person that's building these. I'm like, no, I'm building them.
Speaker 7: He was like okay, He's like who's going to buy these?
Speaker 7: I was like, well, who you think is gonna bomb?
Speaker 5: He's like, well, they look like it looked like white
Speaker 5: people gonna buymb and I.
Speaker 7: Was like, man, you know, you know, well you'll be surprised,
Speaker 7: you man, know, there's people that look like you that
Speaker 7: can also afford these types of things.
Speaker 5: And I was like, I had two of them under contract.
Speaker 5: I was like, so, actually the first two buyers.
Speaker 7: Are people that come from a neighborhood just like you
Speaker 7: and went to college and you know, they have good
Speaker 7: jobs now and now they're coming back and buying this.
Speaker 5: And they were like, man, we didn't know that was possible.
Speaker 7: But you know that sounds sounds kind of cliche, but
Speaker 7: there's there's kids in that community that now have a
Speaker 7: positive representation.
Speaker 5: They can see people that look.
Speaker 7: Like them, that's our age pulling out their driveways and
Speaker 7: porsches and audi's and BMW's.
Speaker 5: It looked like them.
Speaker 7: That's the representation they didn't have before. The only representation
Speaker 7: they had of successful people was illegal entrepreneurs.
Speaker 5: You know. But that's all a part of buying the block.
Speaker 2: Man.
Speaker 7: It's not just about you buying and you being an
Speaker 7: investor and just holding it onto it. It's about creating
Speaker 7: opportunities like this as being in the development and building
Speaker 7: and enticing other people to come back to the community.
Speaker 5: So that's amazing. Yeah, So fast forward. This is fifth ward.
Speaker 7: Now you see all these prices over here right for
Speaker 7: four hundred thousand dollars.
Speaker 2: Hour.
Speaker 7: When I bought that first block, you couldn't you couldn't
Speaker 7: sell a lot for twenty thousand dollars.
Speaker 5: It would just sit.
Speaker 7: But now you have all this activity, the yellow ones
Speaker 7: appending the green, the new listings, and there's a bunch
Speaker 7: of souls that are in the community.
Speaker 5: But four hundred thousand dollars, you know.
Speaker 7: And so this is one of one of the articles
Speaker 7: that they put me in the paper for just talking
Speaker 7: about my projects. This is not talking about the second project.
Speaker 7: So let's go back to the Highway story. So this
Speaker 7: block right here is the second product. This is the
Speaker 7: eighteen houses I was talking about with the two commercial buildings.
Speaker 7: This is that same freeway once again, an infamous freeway.
Speaker 7: So you know, we can continue to talk about these
Speaker 7: things and complain about them, or we can say, Okay,
Speaker 7: we know this is there, we know this happened.
Speaker 5: Now what are we going to.
Speaker 3: Do about it?
Speaker 5: Right, it's our responsibility to fix the problem.
Speaker 7: So the owners of this, the landlords, they had had
Speaker 7: this for about twenty years and they were ready to retire.
Speaker 5: So not all landlords passed property down.
Speaker 7: That's another myth. Real estate is not generational wealth unless
Speaker 7: you have taught your kids how to do systems and
Speaker 7: they see that it's worthwhile for them to take over
Speaker 7: that same investment, that same vehicle. In this case, the
Speaker 7: kids did not want to take over it, so the
Speaker 7: parents were told that they should sell it.
Speaker 5: Okay.
Speaker 7: So, and what would have happened if I didn't buy it?
Speaker 7: Because all that redevelopment, by the way, all those new townhomes,
Speaker 7: if you see my cursor up in the left corner,
Speaker 7: that's right there, that's all new construction right there. So
Speaker 7: had I not bought it, an investment outside the community
Speaker 7: would have bought it and they were done a couple
Speaker 7: of things. They would have came in and you know,
Speaker 7: did the deep renovations, you know, and then raise the
Speaker 7: rents and if tenants can't afford it, oh well, or
Speaker 7: they would have held it for a little while decided
Speaker 7: to tear it down and build some new construction here.
Speaker 7: But for me, this was an opportunity to say, Okay,
Speaker 7: on that other block, I bought that old abandoned grocery
Speaker 7: store in that site, I brought new construction in.
Speaker 5: Now I can show the other side of buying the block.
Speaker 7: We can buy the block and make sure we preserve
Speaker 7: the lifestyles and the sense of normalcy that the residents
Speaker 7: have that have been here long term. So the way
Speaker 7: you can do a project like this, since it is
Speaker 7: so close to redevelopment, it's so close to the catalyst
Speaker 7: that I talked about earlier, is that you can get
Speaker 7: your return on your investment through value appreciation. Okay, because
Speaker 7: this property value is going to go up significantly, so
Speaker 7: you don't have to worry so much about cash flow
Speaker 7: solely where you have to raise the rents astronomically to
Speaker 7: get the return. This property value is going to double
Speaker 7: or triple but you know, conservative conservatively, I'm saying it's
Speaker 7: going to go up thirty to forty percent.
Speaker 5: But every other neighborhood that's been gentrified lots that.
Speaker 7: Will worth two fifty I mean, we're worth twenty five thousand,
Speaker 7: and now we're two and fifty thousand. So for this one,
Speaker 7: this is the one I actually got to do the
Speaker 7: crowdfund on. So what I did with the crowdfund, I'll
Speaker 7: go back to this FLA. The crowdfund is once I
Speaker 7: negotiated with the sellers to the purchase price. They wanted
Speaker 7: one point five million for the whole block. I negotiated
Speaker 7: them down to one point two five So I negotiate
Speaker 7: them down a quarter of a million. And you know
Speaker 7: what happened was, since they were sellers and you know,
Speaker 7: they really didn't have accounting and all that kind of stuff,
Speaker 7: I told them, you know, even if you wanted to,
Speaker 7: if you wanted me to pay one point five for it,
Speaker 7: I couldn't go to a bank and get a one
Speaker 7: point five million dollar valuation because you don't, you know,
Speaker 7: there's no accounting records to show where the true revenue
Speaker 7: is for the property.
Speaker 5: There's not a lot of sales in the community.
Speaker 7: So you know, what I would like to do is
Speaker 7: get you to you know, come down a little bit
Speaker 7: off of that price and work with me over a
Speaker 7: few years. Let me establish the accounting records, let me
Speaker 7: establish all these things, and then I can go back
Speaker 7: and refinance. And then once the bank see the you know,
Speaker 7: the records, they can extract a true value for that
Speaker 7: entire block, and it'll be much easier for me to
Speaker 7: get them to give me six hundred and fifty thousand,
Speaker 7: which is half of the purchase price, then it would
Speaker 7: be for me to go and ask them for one
Speaker 7: point five million right now. And so that's the kind
Speaker 7: of conversations you have to have with sellers sometimes if you.
Speaker 5: Want to get creative.
Speaker 7: And they bought in, you know, so they owner finances,
Speaker 7: they wouldn't take ten percent, they wouldn't take twenty percent
Speaker 7: down so they wanted something significant, so fifty percent. So
Speaker 7: what I did with that was, first I secured a
Speaker 7: private investor that I knew that could back me on
Speaker 7: bringing the majority of that down payment to closing if
Speaker 7: I couldn't raise it. But once I secured that this
Speaker 7: is the opportunity, I decided it was okay to do
Speaker 7: a crowdfund with because the crowdfund, like I talked about earlier,
Speaker 7: it requires you to.
Speaker 5: Have all your your i's dotted.
Speaker 7: And your tea's crossed because you're going to take outside
Speaker 7: people's money. And so with this, some of these residents
Speaker 7: in these houses have been living there for twenty years.
Speaker 5: Literally.
Speaker 7: There's there's mother daughters that live in separate houses on
Speaker 7: the property. There's niece and uncle that lived next door
Speaker 7: to each other. And you know, these are long term
Speaker 7: stable tenants, all all African American, some.
Speaker 5: Of them, most of them.
Speaker 7: Actually all of them hardworking. I don't have there's no
Speaker 7: there's really no Section eight tenants here. These are people
Speaker 7: that are just hardworking but on fixed incomes. Right, So
Speaker 7: for that, that made a good base case for me.
Speaker 7: It's like, Okay, there's long term stable revenue coming from
Speaker 7: the residential side of this property. These two commercial buildings
Speaker 7: over here were vacant, so that gives me upside, right,
Speaker 7: so I can buy it. No, I'm gonna have all
Speaker 7: this revenue, which is about nine thousand, almost ten thousand
Speaker 7: dollars a month coming from here, and then I can
Speaker 7: go in and renovate these two and bring in another
Speaker 7: seven eight thousand dollars a month in revenue on the
Speaker 7: commercial side.
Speaker 5: So that's what I did.
Speaker 7: So that's how I decided to package it up, and
Speaker 7: I decided to do the crowdfund. And you know, I
Speaker 7: didn't know how successful the crowdfund was going to be,
Speaker 7: but it ended up being extremely successful. The most you
Speaker 7: can raise with this type of crowdfund and it's SEC regulated,
Speaker 7: is a million and seventy thousand, and it took me
Speaker 7: seven months and we hit that goal. So that gave
Speaker 7: us enough money to go in and renovate everything and
Speaker 7: pay off the short term debt with the bridge loan
Speaker 7: because I did have to close on it in March,
Speaker 7: which was before I had raised the full six hundred thousand,
Speaker 7: so I ended up using some of the private investors' money,
Speaker 7: but not all of it. So this is what the
Speaker 7: properties looked like before. Again, attendants had been there long term,
Speaker 7: they were happy with it. So what I did was
Speaker 7: I just to reinforce that we were there to protect
Speaker 7: them and you.
Speaker 5: Know, we were going to be good landlords.
Speaker 7: I went and I did some slight renovations to the
Speaker 7: property just to make them feel better.
Speaker 5: So this is what it looks like now.
Speaker 7: I came in, I did landscaping, I put screens on
Speaker 7: everybody's windows to help with their utility bills, and repainted everything.
Speaker 5: Just made it look nice and neat, and you can
Speaker 5: see the bottom picture.
Speaker 7: Actually repaved it everything to give it a fresh new look.
Speaker 7: This is the status of one of the commercial buildings.
Speaker 7: So this is going to be short term peer space.
Speaker 7: So this is what looked like before. It looked like
Speaker 7: it was almost tear down worthy, you know, but we
Speaker 7: took it back to the bones, and now this is
Speaker 7: what it looks like. This is what it looked like
Speaker 7: on the inside before, and so this is what it
Speaker 7: looks like now. This is what a couple weeks ago
Speaker 7: the renovations, and this is closer. This is what it
Speaker 7: looks like now. So I'm almost done with it. You know,
Speaker 7: this is going to be so I think of airbnb
Speaker 7: before business uses short term business, uses event space or
Speaker 7: like office spaces, et cetera, et cetera.
Speaker 5: And then this is the other building. This is the
Speaker 5: building down.
Speaker 7: Here in the corner where we've got to gut it
Speaker 7: back to the studs and we're getting ready to bring
Speaker 7: it back. It's probably going to be an event space
Speaker 7: for now, and then we're probably gonna turn Ino a
Speaker 7: coffee shop in a year or two. We had coffee
Speaker 7: shops the original concept. Because of COVID, I don't want
Speaker 7: to take all that additional and additional capital and invest
Speaker 7: in something that may not secure a tenant right way,
Speaker 7: So it's something like event spaces where you just I'm
Speaker 7: just building it back out to basically what they call
Speaker 7: in commercial real estate, just a box, right so white floors,
Speaker 7: white walls, and lighting and open space so people can
Speaker 7: rent it and use it like that and we can
Speaker 7: generate revenue off of it without having to have a
Speaker 7: significant investment.
Speaker 5: So yeah, man, And.
Speaker 7: This is this is what you're talking about Troy, the
Speaker 7: Culture Arts district. So the whole street, this whole street
Speaker 7: with fifth word Community Development Corporation got disapproved to be
Speaker 7: a culture arts district.
Speaker 5: So yeah.
Speaker 7: So and this project, this crowdfunded project, is right here
Speaker 7: in the heart of it, right off of the freeway.
Speaker 5: So that's another upside for.
Speaker 7: Having ownership in this community because there's gonna be a
Speaker 7: lot of uh public money coming into the community now
Speaker 7: because it's a culture arts district. So yeah, man, So
Speaker 7: that's it. That's that's what I got for you.
Speaker 3: That's incredible appreciation. I asked. I asked Chris to put
Speaker 3: together a presentation. I didn't know he was going to
Speaker 3: do a whole that was. That was extremely impressive.
Speaker 11: Man.
Speaker 3: I really, I really, really, really really appreciate that. That was.
Speaker 3: That was extremely extremely impressive.
Speaker 5: Well appreciated man, much appreciated man.
Speaker 7: And trust me, I can go hours on each one
Speaker 7: of those slides, so I try to keep it short.
Speaker 3: Now, you know what the thing about it is, and
Speaker 3: we're gonna go into the best part of the whole
Speaker 3: situation when people get to ask questions and answer the questions.
Speaker 3: But it's like, you know, we're in a political season
Speaker 3: right now, and obviously everybody should go out there and
Speaker 3: vote for, you know, whatever you think is the right
Speaker 3: situation to do. But nobody's coming to save you either way.
Speaker 3: You can't rely on you can't rely on government programs,
Speaker 3: You can't rely on any type of you know, opportunity
Speaker 3: zone government assistance to help build. Like at the end
Speaker 3: of the day, human human nature is self preservation and
Speaker 3: people people are tribal by nature and and and they
Speaker 3: look out for their own tribe. So it's unrealistic to
Speaker 3: expect anybody to come uh better our situation as it
Speaker 3: can unity. This is why we have to do it ourselves.
Speaker 3: So when we just you know, give you the whole
Speaker 3: blueprint about how he built, how he's buying back the
Speaker 3: block in Houston, Texas, He's doing it like hook a crook.
Speaker 3: And the thing about it is like when he when
Speaker 3: he he just laid out like two different things because
Speaker 3: like the first one he did with just private money
Speaker 3: the woman that had the IRA, and then he puts
Speaker 3: some money down. Then the second time he did the crowdfunding.
Speaker 3: So he's given you multiple different Like on that first
Speaker 3: slide where it was like you can do it yourself,
Speaker 3: you can do a bank finance and you could do crowdfunding.
Speaker 3: He's giving you different things and he actually did different things.
Speaker 3: And it's like it's not like he's coming from you know,
Speaker 3: millions of dollars and got a million dollar loan and
Speaker 3: bank loans and all that stuff. It's like we can
Speaker 3: make excuses or we can we can get it done,
Speaker 3: and we can you know, change the direction of our
Speaker 3: of our family and our legacy. And that's what I
Speaker 3: really like about you. It's like you're not making excuses.
Speaker 3: He's just out here just just doing it done. Man,
Speaker 3: get it done.
Speaker 9: We ain't throwing the word legend around lightly. Man, We're
Speaker 9: talking to a real legend. And I'm glad you said
Speaker 9: the opportunities on christ I heard you say something that
Speaker 9: I've never heard before, and we kind of explained what
Speaker 9: opportunities zones well and shout out to our brother MG
Speaker 9: to Mortgas.
Speaker 2: God, we did a whole segment.
Speaker 9: On that, but you said they kind of really don't
Speaker 9: benefit us, obviously because you have to have capital gains.
Speaker 2: But you said something very interesting. You said, earners, what's up?
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Speaker 9: The process of moving your business into an opportunity zone
Speaker 9: could benefit us.
Speaker 2: Can you talk about that just a little bit?
Speaker 7: Yeah, so, So the way it works is, well, I
Speaker 7: think you have to acquire a business outside of an
Speaker 7: opportunity zone, or you have to have investors.
Speaker 5: Okay, let me let me back up.
Speaker 7: So, yeah, so if you personally acquire a business that's
Speaker 7: outside of an opportunity zone and then you move it
Speaker 7: into an opportunity zone, you get the same tax benefits
Speaker 7: as the people that are investing in real estate in
Speaker 7: those zones. You can also have investors invest in a
Speaker 7: business for you to buy and then you relocate into
Speaker 7: an opportunity zone and those investors get.
Speaker 5: Those same tax benefits.
Speaker 7: And like you said, opportunity zones aren't really made for
Speaker 7: us because you have to have capital gains. So the
Speaker 7: way that you that you do benefit from it is
Speaker 7: you get investors to invest either in your real estate
Speaker 7: or your businesses.
Speaker 5: Get those those folks that do have capital gains to
Speaker 5: invest in your businesses. And then while you you.
Speaker 7: May get a small portion of the actual returns from
Speaker 7: an investment, you know you you have the ability to
Speaker 7: leverage all of their capital for whatever project you're trying
Speaker 7: to get done.
Speaker 3: There, you have it, So we're gonna jump into it.
Speaker 3: Can you can you hang out with us a little
Speaker 3: bit longer? Yeah?
Speaker 5: Definitely.
Speaker 3: Some question all right, So we're gonna were gonna answer questions.
Speaker 3: So before we do that anybody that came on late.
Speaker 3: So what we're doing right now, if if you're wondering
Speaker 3: why we're doing like this special YouTube live Eyo University
Speaker 3: is a platform that we built and we do weekly webinars.
Speaker 3: We do this like we do classes like this every
Speaker 3: single week and every Wednesday at eight o'clock Eastern Standard
Speaker 3: and the last Wednesday of the month we open it
Speaker 3: up to the public. We put it on YouTube, so
Speaker 3: it's like an open house, like you know, we feel
Speaker 3: like the best way to kind of you know, put
Speaker 3: the product on display is for people to walk through
Speaker 3: try it out right. We have nothing to hide, so
Speaker 3: this is this is just what that is. So and
Speaker 3: outside of this, we do weekly classes. We got the
Speaker 3: book club, we got the movie Club, we got the
Speaker 3: Facebook Investment Group, we got biweekly real estate called an
Speaker 3: MG the mortgage Guy. We got monthly financial planning calls
Speaker 3: with me. So we're really trying to build this out
Speaker 3: and to be like, like I keep saying Phoenix University
Speaker 3: because that's what I think about when I think about
Speaker 3: like online universities. I think, like everybody's kind of heard
Speaker 3: of Phoenix University. But I'm like, why can't eyl University
Speaker 3: be the flag bearer. And the way education is going
Speaker 3: now is like education is the only thing that can
Speaker 3: save you because it's like, you know, you you're trying
Speaker 3: to you know, you try to get a job, and
Speaker 3: it's good luck right now, right And it's like, you know,
Speaker 3: self education, as Mickey Faxx said, formal education can get
Speaker 3: you a portion. Self education can make you a fortune.
Speaker 3: You're not gonna learn any of this stuff in any
Speaker 3: Ivy League school.
Speaker 2: Pick one.
Speaker 3: You're not gonna learn any of this stuff in any
Speaker 3: Ivy League school. That's just a fact. It's not my opinion,
Speaker 3: it's a fact, and that has been told to us
Speaker 3: from hedge fund managers to VC capital firm owners, very
Speaker 3: high level intelligent people. They're like yo, with the information
Speaker 3: that you give. They're not teaching this in Stanford, like
Speaker 3: not at this level where people can understand it. For damn.
Speaker 3: They're free. So if you're interested, Eyo University, like I said,
Speaker 3: this is an open house platform that we do once
Speaker 3: a month and we're running a special promo code forty
Speaker 3: percent off. The price goes up in twenty four hours,
Speaker 3: so eight o'clock tomorrow, but it's three hundred like three
Speaker 3: hundred dollars, hundred and forty dollars.
Speaker 2: Somebody just said that this class itself is worth a
Speaker 2: price for the.
Speaker 3: Whole for the whole time. Yeah, it's like, you know,
Speaker 3: it's like the fact. What can you what can you
Speaker 3: do with that? That's like I said, that's a few
Speaker 3: bottles of sarack, like one bottle of sarrock in the club.
Speaker 2: In the club a fact.
Speaker 3: That's a fact.
Speaker 9: Ain't no theories, ain't no gimmicks. Man, We're giving it
Speaker 9: to you real live from real life people.
Speaker 3: And there's no code because before a lot of people
Speaker 3: was asking about the code it was issued. So for
Speaker 3: twenty four hours we took the code off. But it's
Speaker 3: a special link. You can only use the link in
Speaker 3: the YouTube description or the link that's pinned in YouTube.
Speaker 3: So if you're watching it, that's the only way you
Speaker 3: can get that. It's not on the website. You got
Speaker 3: to go through that link. I'll put it in the
Speaker 3: chat again. But yeah, let's go to my stated part.
Speaker 3: So this is the set. So the classes work like
Speaker 3: this where the presenter comes on and they present PowerPoint
Speaker 3: presentation and then afterwards the public e Yo University members
Speaker 3: gets to ask them questions. And this is my favorite
Speaker 3: part because this is like mentorship in a sense where
Speaker 3: it's like you watch a podcast and that's great, you
Speaker 3: get information, but people have questions. You try to d
Speaker 3: m these people, you know, it's hard for them to
Speaker 3: respond back. So this is the part that actually to
Speaker 3: me is even the best people get a sense of
Speaker 3: this in Market Mondays. But that's just a sense like
Speaker 3: this is what we do every week where people ask
Speaker 3: questions and they actually get to engage with these high
Speaker 3: level educated people. So let's let's get to some questions.
Speaker 3: Shout out to Julian Gordon e Yo professor, a legend
Speaker 3: in his own right.
Speaker 2: That's a fact. That's a fact.
Speaker 9: I'm going to my boys straight out of Houston. Darius,
Speaker 9: I'm mute yourself. You've been unmuted.
Speaker 5: Bro, Hey, what's going on? What's going on in the building?
Speaker 2: Anything?
Speaker 8: Good?
Speaker 5: Man?
Speaker 3: It's good with you, bro man.
Speaker 5: I cannot I'm playing.
Speaker 13: I cannot complain loving the fact that we that we
Speaker 13: went the gentrification and buying back the block route with
Speaker 13: this one. I was definitely happy to uh to hear
Speaker 13: and see see that post right there, man, Chris, how
Speaker 13: you doing?
Speaker 5: I can't complain playing at all.
Speaker 13: I guess my question is is my custom is not
Speaker 13: necessarily general. But as far as gentrification is concerned, you
Speaker 13: spoke a little bit about identifying neighborhoods or zip codes
Speaker 13: or just specific areas that may be ready to go
Speaker 13: through gentrification. I'm in Houston. I'm downtown right now, so
Speaker 13: like the Heights, I'm familiar with the Heights. I live
Speaker 13: near Humble, I'm familiar with Fifth Ward, Third Ward, all
Speaker 13: of that. And I'm driving through this stuff all day
Speaker 13: every day, and I'm seeing exactly what it.
Speaker 3: Is you've done.
Speaker 5: Yeah, I'm seeing.
Speaker 7: If you come from Humble, you see both of my
Speaker 7: projects from the freeway that part.
Speaker 2: So I'm.
Speaker 13: Right over here on Elgin fifty nine and Elgin, or
Speaker 13: we're coming from downtown over the third Ward, like those
Speaker 13: properties that are right there alongside the freeway when they
Speaker 13: was raggedy, I saw him when they knocked them down.
Speaker 6: I saw them when they pinned them up.
Speaker 13: So I'm looking at it and I'm like, Okay, So
Speaker 13: how do I go about identifying areas that are on
Speaker 13: the cusp or already in the process of the gentrification?
Speaker 13: And then as far as getting in on that. I
Speaker 13: like the way that you built that You built that out.
Speaker 13: So my question is is like, you're still doing your
Speaker 13: thing in Houston. So is there an area that I
Speaker 13: can kind of just be like, Okay, this is what
Speaker 13: Chris was talking about right here, man.
Speaker 5: There's tons of it. I mean, you name some of them.
Speaker 7: That Elgin area that's third ward.
Speaker 5: Closer to the TSU.
Speaker 7: You get this opportunities you go south towards Sunnyside out
Speaker 7: of the Medical Center they call it in Sunnyside used
Speaker 7: to be the hood they call it in Medical Center South.
Speaker 7: Now the fifth ward still has a ton of opportunity. Man,
Speaker 7: it's just getting started. Like I said, that big project
Speaker 7: won't even be complete till twenty twenty three. So you
Speaker 7: got three or four neighborhoods right there, all along fifty
Speaker 7: nine that will be primed for you to try to
Speaker 7: get it.
Speaker 3: Can you talk about You spoke about it briefly, but
Speaker 3: you spoke on the podcast. Also city development and urban
Speaker 3: planning websites.
Speaker 7: Yeah, So every city, every city has a planning and
Speaker 7: development department. Some of them call it urban planning. I
Speaker 7: think some of some of them call it planning and development.
Speaker 7: But in that sector of the website, there's always their plans.
Speaker 7: They have five year, ten year, twenty year plans. Some
Speaker 7: of them were posting the different variance requests that are
Speaker 7: coming up for different developer projects, and so on that site,
Speaker 7: you can see where the city is trying to go
Speaker 7: with redevelopment, and you can see where the city is
Speaker 7: planning to reinvest in infrastructure over the next five years
Speaker 7: or ten years. And so that can be a key
Speaker 7: indicator of where you should go as well, because especially
Speaker 7: if it's a city that has the ability to get
Speaker 7: grant money that type of thing, they're going to be
Speaker 7: enticing developers and other people to go in there to
Speaker 7: be that catalyst like.
Speaker 5: The big project I showed y'all.
Speaker 7: And so once you see those types of things, and
Speaker 7: then it's time for you to try to, you know,
Speaker 7: just get in the money flow of what's going on
Speaker 7: in that area.
Speaker 9: So, yeah, Darius, appreciate you, Bro, Houston's own. You didn't
Speaker 9: know it, but I put Beyonce up there for.
Speaker 3: You, so shout out. We got shot out a few
Speaker 3: a few a few of our loyal supporters in Houston,
Speaker 3: Texas from the hip hop side, Toby Way, we had
Speaker 3: him here. We had him on this on the show
Speaker 3: and he's tearing. He's the hottest dude out right now.
Speaker 2: I seen him last night at Hip Hop Awards. He
Speaker 2: did his thing.
Speaker 3: A little Kiki legend. Legend came to our event, came
Speaker 3: to our event.
Speaker 2: Let the airport.
Speaker 3: Jazz Prince reached out to me on Instagram, shout to
Speaker 3: shout out to the whole Prince family. We got crazy
Speaker 3: story about the Prince family. Paul Wall ran into him
Speaker 3: at the airport.
Speaker 5: Yo.
Speaker 3: We were coming to Houston, man we come. Don't forget
Speaker 3: slim Dog. Slim Dog ran in him. Also a shout
Speaker 3: to Slim through.
Speaker 2: We had a crazy weekend.
Speaker 3: Shout out to Manhattan.
Speaker 5: YO.
Speaker 3: That was a crazy week crazy shot. So yeah, I
Speaker 3: just wanted to shy everybody in Houston.
Speaker 9: Shout to Mike brownout Mike Brown, like, yeah, shout out
Speaker 9: to Jazz.
Speaker 3: Yeah yeah from Late Chateau.
Speaker 2: That's the fact. Jazmine, what up?
Speaker 5: What up?
Speaker 2: Uh, let's go to I'm gonna mixture bass me Hope,
Speaker 2: I got that right. I'm mute yourself. You've been unmuted.
Speaker 2: What's going on?
Speaker 9: We know there's no frigerator. Oh, every time I say
Speaker 9: fridge they on. What's going on?
Speaker 3: What's going on?
Speaker 14: Oh yeah, I just want to ask real when you
Speaker 14: did that crowd funded, right, was that with the promise
Speaker 14: of keeping the properties and renting them out or are
Speaker 14: you giving out dividends?
Speaker 3: How is that?
Speaker 5: How are they getting a return on their money? That's
Speaker 5: what platform crowd That's a great question. Yeah.
Speaker 7: So the platform I use is called bottle block dot
Speaker 7: com based on Denver, Colorado.
Speaker 5: But yeah, so they are getting dividend.
Speaker 7: So they what I'm doing is I'm taking forty percent
Speaker 7: of the net profit from the rents and I'm dividing
Speaker 7: that up and I'm sending that out to everybody. And
Speaker 7: so just like getting the dividend, it'll be between like
Speaker 7: two to three percent, like one and a half to
Speaker 7: three percent of the investment amount. But you know, you're
Speaker 7: on Nike stock, you get a one percent dividend, and
Speaker 7: so you know with this you also get the share
Speaker 7: value appreciation because you're not just donating money, you're not
Speaker 7: lending money. You actually bought a piece of ownership of
Speaker 7: this property. So as the property value goes up, your
Speaker 7: share value goes up. And so that's where the real
Speaker 7: return is. And so the way I have the project
Speaker 7: set up. It's supposed to be a seven year project.
Speaker 7: So you know we bought it for one point two
Speaker 7: particularly be worth about three million in about seven years
Speaker 7: and then so you have options to sell your shares
Speaker 7: and get out. We can refinance it and stay in
Speaker 7: and basically everybody can still pull their initial capital out
Speaker 7: they initially invested.
Speaker 5: So that's how it got a structured So appreciate that.
Speaker 2: Sharretta, we coming to you. I hope I said your
Speaker 2: name right, so I read I hope.
Speaker 5: Ready, Yeah, you said it right.
Speaker 2: Here we go, and it was ready right when I
Speaker 2: pressed on you, thank you.
Speaker 6: I was ready to pounce.
Speaker 5: I was ready to pounce.
Speaker 8: Do it Okay, So I just want to say I've
Speaker 8: been with you all you maybe about forty five days,
Speaker 8: and Yo, this is so worthy investment.
Speaker 3: I appreciate, appreciate that.
Speaker 8: Chris is finally nice to see your face because I
Speaker 8: tell you, I'm kicking myself that I did not join
Speaker 8: when you guys had this out on by the block back.
Speaker 5: Oh that'll be more coming.
Speaker 8: But I love the thought process. So one of the
Speaker 8: questions I really had was for someone like myself, I
Speaker 8: actually came across the property about three years ago in
Speaker 8: one of these up and coming neighborhoods. I'm getting ready
Speaker 8: to actually build my first home, and one of my
Speaker 8: things is, you know, I'm kind of torn in the
Speaker 8: fact that you know it is you know, developers are
Speaker 8: coming in that don't necessarily look like us. So what
Speaker 8: advice would you have for someone getting in the game
Speaker 8: that necessarily doesn't have the capitalization to go and buy
Speaker 8: the block and starting out with that one one piece.
Speaker 5: Here or there.
Speaker 7: Yeah, definitely start wherever you can. Yeah, the developers are
Speaker 7: going to come. Like I said, you can't really stop them.
Speaker 7: So you know, some of the other concept we'll talk about,
Speaker 7: maybe like getting a small group of people together to
Speaker 7: co invest with you. You can maybe two or three people
Speaker 7: that may have some money sitting in the old savings
Speaker 7: account of old four one K we.
Speaker 5: Talked about earlier. You can use that as your.
Speaker 7: Down payment and maybe have another partner has good credit.
Speaker 7: You know, if you're going to try to do something,
Speaker 7: I wouldn't say try to start with ground up development
Speaker 7: or new new construction. I would suggest you try to
Speaker 7: buy some you know, something that's in decent condition already.
Speaker 7: Even the new building the right area. If the construction
Speaker 7: and the redevelopment is happening quickly, you can still you
Speaker 7: can still get equity in your home pretty quickly. It
Speaker 7: rather it's an investment that's your primary residence. And would
Speaker 7: also tell people too. It's like if you want to
Speaker 7: be an investor and you want to be a landlorder,
Speaker 7: you got to think about if you're buying something that's existing,
Speaker 7: even if it passes inspection, right, the inspectors only looking
Speaker 7: for things that are wrong.
Speaker 5: But if you've got a house that's.
Speaker 7: Let's say it's twenty years old and they put a
Speaker 7: twenty year well they put a let's say they put
Speaker 7: a thirty year roof on it, you got a plan
Speaker 7: as as as the owner of their property that to
Speaker 7: replace a roof in five or six years or ten
Speaker 7: years max.
Speaker 5: Right, those type of things people don't think about. Whereas
Speaker 5: if you buy a.
Speaker 7: Brand new property in the community like this, but the
Speaker 7: property the values are going up. You know, everything's new,
Speaker 7: so you have a longer runway before you have to
Speaker 7: start investing in repairs.
Speaker 5: So just things to think about. And if you haven't well.
Speaker 7: If you haven't used like your first time home buyer
Speaker 7: credit or anything like that. You can get into something
Speaker 7: with three percent down, and even if you don't want
Speaker 7: to stay in it forever, just stay in it for a
Speaker 7: little while and turn it into an investment property.
Speaker 6: Got right.
Speaker 9: I appreciate thanks about a game, then appreciate you appreciate it.
Speaker 2: First time home boys, you say, yep, And people.
Speaker 3: They watching our journey, like you know, we did trucking
Speaker 3: because we did the trucks with shout out to Alexy.
Speaker 3: So we just brought our first truck and we're gonna
Speaker 3: be like showing people the journey into that. So watch
Speaker 3: what we're doing in Cleveland, Ohio. We got a shout
Speaker 3: to be on Win shout out to big business. Shot
Speaker 3: talk about in Cleveland.
Speaker 5: But but we might come in Houston.
Speaker 9: I'm thinking about Houston, bro. I'm like, yo, bro, we
Speaker 9: got a lot of love out there. I remember we
Speaker 9: was just in a random strip moll eating. They was
Speaker 9: just like, yeoh, we love you out here.
Speaker 3: You know, we got to talk about the prices out there.
Speaker 5: I was about to say, man, I can't. We can't
Speaker 5: compete with those prices up there.
Speaker 3: Cleveland, Cleveland, Ohio. It's different right now.
Speaker 9: We gotta open invitation in Nashville as well. We might
Speaker 9: there's there's there's a couple of cities we might have
Speaker 9: to look at.
Speaker 3: Nashville, Tennessee. Shout out to Nashville.
Speaker 2: Let's see.
Speaker 9: Uh, I haven't seen this thing before, Garth, were coming
Speaker 9: to you, Garth, i'mut yourself.
Speaker 2: You've been unmuted.
Speaker 15: Guys, g Chris.
Speaker 2: Can you tell your value up just a little bit?
Speaker 16: Hold on, They was about to hit you with the gadlines.
Speaker 5: Bro, No, it was coming.
Speaker 3: I was rushing.
Speaker 15: Fabulous presentation, Troy Rashard, you know, fabulous job. Keep up
Speaker 15: the good work, Chris, you know the stuff that you're
Speaker 15: doing there. I'm here thinking, I'm like, dude, we need
Speaker 15: to replicate this across the country, you know what I mean,
Speaker 15: just clone you or you create disciples and just spread
Speaker 15: them across the US and we just do our thing.
Speaker 15: And you know, that's that's.
Speaker 5: What I'm seeing right now.
Speaker 17: I know Julian down in New Orleans, he's doing this
Speaker 17: thing down here as well. I'm saying, we have all
Speaker 17: these resources, man, we need to pull this together. Troy
Speaker 17: and Rashad, you guys, the the the link between you know,
Speaker 17: to pull all this together. You know, create a masterclass
Speaker 17: or something where we get everybody together and put put
Speaker 17: something like this together where we you know, this this
Speaker 17: energy and just replicated across the country and just put
Speaker 17: in different pockets across the country and just do our thing.
Speaker 2: Man.
Speaker 3: Yeah, I mean, like I said, all I wanted to say,
Speaker 3: she appreciated. I appreciate that. Shots that Julian Gordon, He's
Speaker 3: doing something similar in New Orleans, I believe. And of
Speaker 3: course we got Brandon Rule, who's one of the top
Speaker 3: real estate developers in the United States of America right now.
Speaker 3: We got a lot of we got a lot of
Speaker 3: relationships with a lot of good people.
Speaker 6: MG.
Speaker 3: The mortgage guy who's the number one real estate financing
Speaker 3: expert online. So maybe we can, maybe we can form
Speaker 3: a conglomorate Superpower super Pack, ey l super Pack.
Speaker 2: We're coming to take over the neighbor.
Speaker 5: But yeah, Magarth Man, I appreciate the comment.
Speaker 7: Man, But that's exactly why I'm doing this while I'm
Speaker 7: being so transparent with everything, because it's way too much for.
Speaker 5: Me to try to tackle on my own. And I'm
Speaker 5: not I'm not the boastful, bragfull, arrogant guy. I just
Speaker 5: want everybody on the same way.
Speaker 18: Man.
Speaker 7: It was frustrating not seeing enough of us doing this.
Speaker 7: And it's funny. I would be in conversations with all
Speaker 7: of these intellectuals, these Ivy League graduates.
Speaker 5: From our community, and they would tell me why it
Speaker 5: wouldn't work, and eventually I'm just like, I'm just gonna
Speaker 5: do it. I'm just gonna show them that it can't work,
Speaker 5: you know.
Speaker 7: And I think that's what it takes for a lot
Speaker 7: of us just to get to get in there and
Speaker 7: start doing it.
Speaker 9: They keep driving on the highway, They're gonna see what
Speaker 9: you're doing. Is there, right, Wanda, we are coming to you.
Speaker 9: I mute yourself. You've been unmuted.
Speaker 2: What's up?
Speaker 5: Hi, y'all?
Speaker 19: First of all, I love you. I love to show
Speaker 19: on the platform. I've told everybody in my organization. I'm
Speaker 19: twelve hundred people about this, well, the black people.
Speaker 3: We love everybody.
Speaker 19: I have this like pipe dream of building a thriving
Speaker 19: Black community. And I call it a pipe dream because
Speaker 19: I like the strategy that you're talking about in terms
Speaker 19: of going into an area that's on the verge of
Speaker 19: me or gentrification. But I have a question about an
Speaker 19: area like Gary Indiana where and I'm from New York.
Speaker 19: I don't know anything about Gary. It came to me
Speaker 19: in a dream. So Gary, there was white flight and
Speaker 19: then black flight. In the fifties and sixties, industry left
Speaker 19: the place, and right now it's virtually abandoned over the
Speaker 19: past forty years, but slowly but surely, like I heard
Speaker 19: that there's a hotel coming to the beach area and
Speaker 19: there's an investment in building a new school. So my
Speaker 19: question is, what do you think about going into an
Speaker 19: area that is not even quite on the verge of revitalization.
Speaker 5: And buying the block there and.
Speaker 19: Maybe networking with other real estate investors who are black,
Speaker 19: and trying to lure people from Chicago who are thirty
Speaker 19: minutes away. A lot of them left Gary to go
Speaker 19: to Chicago. What do you think about that as a strategy?
Speaker 19: Is it really a pipe dream? Should I move forward
Speaker 19: or should I look for a place that is already
Speaker 19: gentrifying or revitalizing right now?
Speaker 7: That's definitely a risk tiler, it's questioned, okay, because you
Speaker 7: don't know how long it's going to take for that
Speaker 7: to take off. If you can invest in it and
Speaker 7: hold it long enough where it's not. If you got
Speaker 7: money that's not going to hurt you to invest in
Speaker 7: the property and just let it sit there and wait
Speaker 7: for that to happen, then that's that's okay. But if
Speaker 7: you're expecting a quick return on whatever you're about to do,
Speaker 7: I would say go somewhere where the bet is more sure,
Speaker 7: you know where you where you have a more solid
Speaker 7: opportunity to get into whatever you're going to do, make
Speaker 7: some money, and continue to expand.
Speaker 5: I think that happens a lot of times.
Speaker 7: People buy property in the wrong neighborhoods and the values
Speaker 7: don't appreciate.
Speaker 5: Sometimes the values are stagnant or even go down, and you.
Speaker 7: End up losing money if you look at inflation and
Speaker 7: everything else and your cost of like taxes and insurance
Speaker 7: and all that kind of stuff.
Speaker 5: So you got to be really really strategic with that.
Speaker 7: I personally wouldn't suggest it, but if you have the capital,
Speaker 7: do it, then you know it's just it won't hurt ry.
Speaker 10: Thank you so.
Speaker 3: Much, appreciate you. I think that's the question a lot
Speaker 3: of people have, like coming from New York or whatever,
Speaker 3: it's like where it's just the real estate is crazy
Speaker 3: and they want to go to these different towns, but
Speaker 3: it's like you don't know anybody. And the reason why
Speaker 3: I said Cleveland, Ohio is that we really built a
Speaker 3: strong relationship with Beyond when shout out to him, just
Speaker 3: a real solid dude, and you know, that's somebody that
Speaker 3: we trust. And it's like, you know, even Maurice Clorette,
Speaker 3: a good friend of mine, who's out in Columbus, Ohio.
Speaker 3: So you know, I really know like these people are.
Speaker 3: Actually they live out there. They you know, So I'm
Speaker 3: not going to go to anybody's turf and try to
Speaker 3: do the Chrystopher Columbus day and just take over.
Speaker 7: And you know what, that is a great point because
Speaker 7: like those like we're beyond them are there is a
Speaker 7: strong rental market there and there's not enough housing. So
Speaker 7: if that's the business case that you're looking at, then
Speaker 7: you still it still makes sense because you can buy
Speaker 7: the chop the property really really inexpensively and still have
Speaker 7: positive cash flow and make great returns.
Speaker 9: Really, I'll tell you another great place to find people
Speaker 9: that are from other places inside the investment group. I'm
Speaker 9: telling you, like every time that somebody posts like yo,
Speaker 9: hey I live in Houston, is there anybody that is
Speaker 9: developing Houston.
Speaker 2: It's a great resource. Yo, Is there anybody in Cleveland?
Speaker 2: Every day?
Speaker 9: I see it like somebody from another part of the
Speaker 9: country is like, Yo, anybody here in this area. It's
Speaker 9: a great way to network and a great way to
Speaker 9: resource and come together. Right if I'm not from Gary,
Speaker 9: I'm guaranteeing out of the five thousand almost six thousand people,
Speaker 9: somebody knows the area.
Speaker 3: And Matt Matt was doing He's going to bring it back,
Speaker 3: but he was doing the city right each city, so
Speaker 3: he did. Like the real estate updates for the Bay Area,
Speaker 3: the real estate updates for Houston, and real estate updates
Speaker 3: for Philly. Those are good resources too because it's like
Speaker 3: now that's specific for that area. So even if you
Speaker 3: don't live in Philly, but you're interested in Philadelphia real estate,
Speaker 3: you can network. It's all about network. And that was
Speaker 3: my whole point, is that it's just about networking. And
Speaker 3: I feel like, you know, a lot of times what's
Speaker 3: stopping us is the relationships. And that's another thing that
Speaker 3: we built with the university. It's just relationships, but just
Speaker 3: in general, just in life, like you might have a
Speaker 3: family member, you ain't have a cousin you might have
Speaker 3: to You know, you never know who you're going to
Speaker 3: meet or get introduced to. But relationships can take you
Speaker 3: a long long way. You can have all the knowledge
Speaker 3: in the world, but if you don't have the relationships,
Speaker 3: you might not be able to execute. So it's relationships
Speaker 3: that are extremely extremely important in my opinion.
Speaker 2: Bianca, were coming to you, I'm mute yourself. You've been unmuted.
Speaker 2: What's up?
Speaker 3: Hi?
Speaker 20: How you doing?
Speaker 2: Of how fasty I was forming? Everything's great.
Speaker 20: I just didn't expect that to happen. So my question
Speaker 20: is probably very similar to one of the first questions,
Speaker 20: but I never get to get on, so I'm just
Speaker 20: going to say it. So, just about the opportunity zoned. So,
Speaker 20: I'm from Augusta, Georgia, and I moved to Minneapolis five
Speaker 20: years ago, and I noticed North Minneapolis is like one
Speaker 20: of the most undeveloped, neglected places in Minneapolis. But I
Speaker 20: just read something today about the city planning to put
Speaker 20: a concert venue up there. They they're getting like millions
Speaker 20: of dollars. Would you consider this like a opportunity zone?
Speaker 7: Well, so, an opportunity zone is actually a government designation
Speaker 7: for specific namesihborhoods that have like specific low income demographic
Speaker 7: or like then they have like usually issues like food
Speaker 7: desert words, no grocery stores and those types of things.
Speaker 5: And so those zones were created.
Speaker 7: To uh to kind of pinpoint areas where the government
Speaker 7: wanted these high networks people or people that have capital
Speaker 7: gains to invest and park their money for up to
Speaker 7: ten years in exchange for getting a tax abatement basically
Speaker 7: a tax deferment, and like whatever whatever they buy over
Speaker 7: the ten years, they they actually can like sell it
Speaker 7: at the end and not pay any taxes on that
Speaker 7: at all.
Speaker 5: So I'm not sure if that you'd have to.
Speaker 7: You can really just google opportunities on map and it'll
Speaker 7: tell you if that area is an opportunity zone or not,
Speaker 7: and then it sounds like something that that may be
Speaker 7: a catalyst for other development to come around it. So
Speaker 7: I would definitely I would stay tuned to see what's
Speaker 7: going on. If you know any realtors anybody that may
Speaker 7: be in that that may know that market, I would
Speaker 7: say you suggest you just talk to them to see
Speaker 7: if they know of any realtors that represent builders in
Speaker 7: new construction that because if those builders are looking at
Speaker 7: that area, and that tells you that things are about
Speaker 7: to pick up.
Speaker 3: Okay, thank you, Yeah, you know, I just thought about
Speaker 3: something we're gonna do, Janet, Hopefully you can help us
Speaker 3: out with this. We have almost four thousand members in
Speaker 3: our private our private investment group on Facebook, so we
Speaker 3: should we could. We can set up geographical groups like
Speaker 3: we can have a New York group, we can have
Speaker 3: an LA group, we can have affiliate like that means,
Speaker 3: so that way people can they can identify themselves by
Speaker 3: like where they actually live. And like I said, even
Speaker 3: if you don't live, So even if you live in
Speaker 3: New York, what you might be interested in Houston real estate.
Speaker 3: If there's three hundred people from Houston in a Houston group,
Speaker 3: now you can network with them, and that gives you
Speaker 3: three hundred people that you can actually, you know, reach
Speaker 3: out to and build with. So we're gonna get that done, Jenny.
Speaker 9: I guarantee by seven o'clock, I'm gonna have fourteen text
Speaker 9: visits shot, he said.
Speaker 3: He said, I appreciate that.
Speaker 9: Ah Man, Let's go to a new name. Oh, Whitney,
Speaker 9: I haven't seen this thing before. Whitney, what's going on?
Speaker 2: Mute yourself. You've been unmuted.
Speaker 21: Hey, guys, thanks for this, uh this awesome information. I appreciate.
Speaker 21: I appreciate everything that e Yl is bringing to the table.
Speaker 21: And I'm a newbie. I've only been a member of
Speaker 21: about about a month or so, but I'm really happy
Speaker 21: to be welcome to appreciate that.
Speaker 5: Bro. I got a message for Chris.
Speaker 21: I serve on the political side and the community side
Speaker 21: for a lot of housing agencies or community redevelopment boards
Speaker 21: and economic development boards. And I do that, as I said,
Speaker 21: and actually put my question in the thing, just so
Speaker 21: I can be at the table and hear about deals
Speaker 21: that are coming down and actually bring it back to
Speaker 21: our community. But I get a lot of pushback from
Speaker 21: our community because mostly I think because they just they
Speaker 21: see that their communities are being changed and they feel
Speaker 21: helpless to get involved or helpless to do anything about
Speaker 21: it because they don't have the financial wherewithal to do anything.
Speaker 5: What What are.
Speaker 21: Some strategies that you've used or that you've seen used
Speaker 21: that actually help to engage local communities, particularly our community
Speaker 21: black people and bring them along through this process.
Speaker 5: Man.
Speaker 7: You know it's tough. I mean, I thankfully the projects
Speaker 7: that I have. They kind of see something different. They
Speaker 7: see that I'm not displacing people, but for the for
Speaker 7: the a lot of times people are just adverse to change, right,
Speaker 7: So I think the best thing that you could do
Speaker 7: probably would be to bring in a group of investors,
Speaker 7: if you know, a group of investors or developers that
Speaker 7: may be of the right mindset, and have them come
Speaker 7: and talk to the community.
Speaker 5: And you know, if you if.
Speaker 7: You know where the projects are going and you know
Speaker 7: what's coming, put put that group in in front of
Speaker 7: the projects and let them, you know, interface with the
Speaker 7: community and kind of bring some of the amenities and
Speaker 7: services of the community may be looking for, or explain
Speaker 7: to them why it's not the right time for certain things.
Speaker 7: Like you know, a lot of the communities, like like
Speaker 7: I said, they will want the grocery store now, and
Speaker 7: they'll want this and that now, but they don't want
Speaker 7: the new housing, you know, and you have to explain
Speaker 7: to them, well, this is why you need that, This
Speaker 7: is why you need some.
Speaker 5: People that look like you in the community, that earn
Speaker 5: more money, so.
Speaker 7: That it can be attractive for Starbucks or it can
Speaker 7: be attractive for the grocery store to come back. So
Speaker 7: a lot of it's just open communication, but there is
Speaker 7: no cookie cutter answer.
Speaker 10: Man.
Speaker 7: You're never going to get everybody on board, unfortunately, but
Speaker 7: I mean, you know, you can kind of turn the
Speaker 7: tide a little bit by doing some of those things.
Speaker 5: True, true, I appreciate that. Guys, thank you very much.
Speaker 2: We appreciate you. Oh, here we go, my guys. Here
Speaker 2: Arthur all rise King, Arthur, you've been unmuted peace Peace
Speaker 2: was good fellas. What's going on?
Speaker 5: Bro? Slow motion? How you're doing?
Speaker 2: Yeah, we're good man doubt a.
Speaker 5: Chris Man definitely a big fan.
Speaker 14: I'm actually an investor in the in the Lions Avenue project.
Speaker 5: I love it. Yeah.
Speaker 14: When I actually right right before right as COVID hit
Speaker 14: I got, I got into the project and I joined
Speaker 14: E y L. That was kind of how I split
Speaker 14: the bread up for so definitely looking forth, definitely a
Speaker 14: big fan. Been following the Mad project as well. Congrats
Speaker 14: on that. As we talk about building the community. One
Speaker 14: of one of the things that you mentioned, uh with
Speaker 14: the with the project, that you said, you know, most
Speaker 14: none of those houses were like Section eight houses and
Speaker 14: stuff like that, those are all pretty much working class individuals.
Speaker 14: That being said, Section eight is like one of the
Speaker 14: largest subsidies our community gets, like literally it's about eight
Speaker 14: billion dollars a year, and the majority of that money
Speaker 14: goes to black women, as we know, who are generally
Speaker 14: that had a household for those communities. So as you're
Speaker 14: building your plans and as you know, you speak on
Speaker 14: others and how they should expand how do you view
Speaker 14: or what ways do you think that we have to
Speaker 14: actually include that so we don't walk away literally from
Speaker 14: eight billion dollars a year that now is going to
Speaker 14: other people who own that affordable housing to a certain degree,
Speaker 14: because our own people are scared or don't want to
Speaker 14: deal with those Section eight housing.
Speaker 5: Yeah.
Speaker 7: So yeah, one let me point out the reason why
Speaker 7: I pointed that out earlier is for the opposite reason, right,
Speaker 7: because well, we automatically assume everybody in these neighborhoods is
Speaker 7: all strictly on government assistance, but there are some people
Speaker 7: that are just hardworking that you know, all fixed incomes. Now,
Speaker 7: as far as the you know, the single women especially
Speaker 7: or anybody that's on Section eight, I think that with
Speaker 7: the right landlords in place, and I think it can
Speaker 7: actually be a better system because you know, if we
Speaker 7: are the ones controlling the real estate and own the
Speaker 7: real estate, and those are our tenants, then we'll probably
Speaker 7: look out for them a little bit more than somebody
Speaker 7: else that's you know, living across the country or living
Speaker 7: in another neighborhood that doesn't really care about the community.
Speaker 7: But most importantly, when you talk about a way to
Speaker 7: leverage home ownership that we don't really talk about those
Speaker 7: those vouchers can be used for mortgage payments, just like
Speaker 7: they can be used for really so educating more of
Speaker 7: the people in our community about how to get their
Speaker 7: credit together to get into a first time home buyers
Speaker 7: program and get a down payment assistance grant and then
Speaker 7: convert that same voucher over to something that can help
Speaker 7: pay the mortgage. We can create more home ownership in
Speaker 7: the community using that same.
Speaker 14: Tool, so so so in a way, for those who
Speaker 14: are looking how to replicate what you're doing on a
Speaker 14: smaller scale, one of the things they can do is
Speaker 14: look to take advantage of those government programs and using their.
Speaker 5: Own home buying i e.
Speaker 14: Matt's home bias home buyers, or you know, using those
Speaker 14: types of things in their own personal lives to to
Speaker 14: kind of replicate on a micro scale what you're doing
Speaker 14: at the macro level.
Speaker 7: Definitely, definitely, And that's actually a way for people that
Speaker 7: have existing rental portfolios if they want to get out
Speaker 7: of them. A lot of people are converting over to
Speaker 7: owner finance, so so basically the same tenant stays in
Speaker 7: the property, but now they're they are buying the property,
Speaker 7: so now they're responsible for the insurance and the taxes
Speaker 7: and all those things.
Speaker 5: So if you have a Section eight tenant in it's
Speaker 5: a house that.
Speaker 7: You don't want to get, you know, you may not
Speaker 7: want to keep in your portfolio, you could actually sell
Speaker 7: it to them. Yeah, and create a homeowner out of
Speaker 7: one of your tenants, especially if they've been loyal, long
Speaker 7: term tenants.
Speaker 11: You know.
Speaker 7: It's it's it's a million ways to uh to make
Speaker 7: that program benefit us more.
Speaker 5: I appreciate it.
Speaker 3: Brother, Thank you often. One last I just want to
Speaker 3: ask you a question because you're one of our most
Speaker 3: prestigious students at euy L University and you always tap
Speaker 3: into every single thing we got going. Uh, how how
Speaker 3: has your experience been with EYO University.
Speaker 5: It's been It's been fabulous, man, it's been fabulous. I listen.
Speaker 14: I went to a prestigious all boys prep school in
Speaker 14: high school, Avon Old Farms. I could have went to
Speaker 14: all most of them in the ivy leagues, I end
Speaker 14: up going to George Washington University.
Speaker 3: You know, that's very prestigious school, absolutely, you know what
Speaker 3: I mean.
Speaker 14: However, in terms of the actual practical knowledge that I
Speaker 14: learned outside of me just working and doing the things
Speaker 14: that I did in my career, I would say this
Speaker 14: has definitely been one of the most comprehensive education platforms
Speaker 14: that I've ever been a part of.
Speaker 5: You know what I mean. You guys brought me to Chris.
Speaker 14: You guys brought me to Matt, you brought me to Beyond,
Speaker 14: you know what I mean. And so in terms of
Speaker 14: actually executing and getting things done, there's there's there's nothing better,
Speaker 14: you know what I mean. I was an econ major,
Speaker 14: I was a finance major, all of that stuff, and
Speaker 14: it doesn't come close to the practical knowledge, all of
Speaker 14: that stuff.
Speaker 5: That they're gonna teach you in the schools.
Speaker 14: You can go google that, but there's no get it done, this, this, this, this, uh,
Speaker 14: you know, get the seller financing and transfer that into
Speaker 14: into a private investment for the I R Ray and
Speaker 14: then transfer getting it done. They're not gonna teach you
Speaker 14: that at Harvard and nowhere else. At Harvard, they're gonna
Speaker 14: teach you the exact opposite of what Chris is teaching.
Speaker 14: They're gonna teach you how to ultimately rape your community.
Speaker 14: Chris is gonna teach you how to get it done
Speaker 14: and get the bag. So I appreciate you fellas for it.
Speaker 14: I always participate. I'll always speak highly and you know,
Speaker 14: I appreciate you guys for always letting.
Speaker 9: Me rock appreciating author, appreciate that most prestigious author.
Speaker 3: Man's extremely extremely intelligent. God Man Market used to be
Speaker 3: a market maker on Wall Street.
Speaker 2: That's our guy. This is another one of our of
Speaker 2: our dudes. Man Park, what's going on? I'mut yourself, what's
Speaker 2: going on Sunday?
Speaker 3: Bro Man?
Speaker 22: I was struggling with us. Now, No, I'm making sure
Speaker 22: I'm back. I was like, I ain't never missed another
Speaker 22: episode ever. God Yeah, No, thanks for all the information, Chris.
Speaker 22: I just had just one, you know, short question. Throughout
Speaker 22: the whole process that you've done, what would you think
Speaker 22: is like the hardest step.
Speaker 3: That you have to take? Like before you got to
Speaker 3: where you're at right now, man.
Speaker 7: I would say, every every step has its own challenges.
Speaker 7: I would say the most the most difficult things I
Speaker 7: had going was when I was trying to figure things
Speaker 7: out on my own and not find somebody that was
Speaker 7: an expert at what I was trying to get done
Speaker 7: and putting them in place to do something to help
Speaker 7: me out.
Speaker 5: So, I mean, that's really been the biggest thing, man.
Speaker 7: I would say with the new construction project, like the
Speaker 7: roadblock with the infrastructure was pretty tough, and having to
Speaker 7: negotiate with the city to figure out, you know, a
Speaker 7: solution for that. And let me think on the on
Speaker 7: the crowdfund side, I think that the hardest part is
Speaker 7: getting the deal done on the front and just negotiating
Speaker 7: with the sellers and making them understand, you know, why
Speaker 7: I needed them to come down on price and why
Speaker 7: I needed them to sell their finance to me.
Speaker 5: But yeah, I mean every everything, every deal you do,
Speaker 5: you're gonna have a different challenge, So just be prepared
Speaker 5: for that.
Speaker 2: Appreciate you.
Speaker 3: Pop shout out to Chicago man, Chris, can we get
Speaker 3: like ten more minutes of your time? Yeah? Yeah, let's
Speaker 3: go somebody on YouTube shot yes to real estate. They
Speaker 3: sent a couple of days. You read that message? No,
Speaker 3: I know Andre, Yes, okay, okay, y yay, said is Andre,
Speaker 3: yes to real estate. We're breaking ground on our four
Speaker 3: townhousing fifth Ward two months were three blocks from you.
Speaker 2: So yeah, yeah, you're taking over the whole. That's taking
Speaker 2: over the whole neighborhood.
Speaker 5: I love it and I love it definitely, definitely.
Speaker 2: Well, listen, what's going on? You've been unmuted.
Speaker 23: Hi, how are you guys?
Speaker 2: Everything's good.
Speaker 23: Thank you so much for having this open forum has
Speaker 23: been very informative. I got on a little late, but
Speaker 23: I will rewatch. I did want to ask Christopher a
Speaker 23: question uestion about buying back Harlm and what do you suggest.
Speaker 23: I'm born and raised here. I've been approached with a
Speaker 23: lot of negativity and in terms of trying to open
Speaker 23: up a business. However, a lot of businesses have closed
Speaker 23: due to COVID, and I just kind of wanted to
Speaker 23: know a way on how to approach that.
Speaker 7: Wow, that's a very There's a lot of variables in
Speaker 7: that equation, right, because number one, the type of business
Speaker 7: you're going to want to start, and then when you
Speaker 7: see a bunch of business is closing, don't think it's
Speaker 7: for no reason. You know, they're closing because they tried
Speaker 7: to stay open and they couldn't. Now, I mean, of
Speaker 7: course that is going to open a new way of
Speaker 7: opportunity on the backside. But I'm not really familiar with
Speaker 7: the Harlem market or like the price points there, so
Speaker 7: I wouldn't want to give you any bad advice. It's
Speaker 7: not cut her blanket across the board. So I would say,
Speaker 7: maybe do what I would do in any situation. That's
Speaker 7: fine local experts that are doing what you're trying to do.
Speaker 7: Maybe talk to a commercial broker that has clients that
Speaker 7: have bought businesses or rented spaces to start businesses and
Speaker 7: have closed those businesses and find out what challenges their
Speaker 7: clients had and then figure out.
Speaker 5: You know, your next move.
Speaker 7: So yeah, don't don't go into it blindly. Don't don't
Speaker 7: go into it trying to figure out your own for sure.
Speaker 3: I'm gonna be honest, And it's like, you know, we
Speaker 3: live in New York. We've been in New York our
Speaker 3: entire lives. Our whole family has been in New York,
Speaker 3: their entire lives. Pretty much. You know. I was always
Speaker 3: really pro New York. I still am, you know, but
Speaker 3: the more I travel, I've been traveling a lot lately, and.
Speaker 2: Don't do it.
Speaker 9: Don't do it, don't do it, don't do it, an it, don't.
Speaker 3: Do it now. The one thing that Donald Trump said
Speaker 3: is like, I don't know if the city's ever really
Speaker 3: gonna fully recover. And it's so much regulation, it's so
Speaker 3: much red tape, it's so much hassle. The prices are
Speaker 3: through the roof in every neighborhood. It's just really, you know,
Speaker 3: for me, I'm like, you go to places like Atlanta,
Speaker 3: you just travel around and it's I don't know, man,
Speaker 3: New York City is it's vastly becoming overrated. It hurts
Speaker 3: my heart to say that. It really hurts my heart
Speaker 3: to say that. But it's it's it's I think it's.
Speaker 3: I think it's true.
Speaker 2: I appreciate that you said that.
Speaker 9: It's it's it's it's challenging times for our city, man,
Speaker 9: but hopefully we're covering. Hopefully. Maybe not. I I'm just optimistic.
Speaker 9: I'm wonnat be optimistic about it.
Speaker 3: Uh, head to Atlanta.
Speaker 9: Jerome, Jerome. I mute yourself you've been unmuted. What's going on?
Speaker 2: Yo?
Speaker 5: What up? What up? What up?
Speaker 2: Man? What's going on?
Speaker 18: I guess my question is branched off of some of
Speaker 18: the things that have been answered already. But Chris, you're
Speaker 18: talking about earlier in your slides. Well, first of all,
Speaker 18: you know, buying back the block you alays when you
Speaker 18: come from you know, lower income black neighborhoods, that's always
Speaker 18: a dream you and your homeboys like, Yo, you know
Speaker 18: what I mean, I'm a buy back to block on
Speaker 18: by this. Well, I guess in my case, I got,
Speaker 18: I got some of my homeboys. We all kind of
Speaker 18: got a financial background of some sorts.
Speaker 5: But we new to this.
Speaker 18: And I know you said that don't all come in
Speaker 18: as rookies as novice. So I guess my question is
Speaker 18: where would you start to find someone who understands these
Speaker 18: contracts where you like, yo, you know what I mean,
Speaker 18: I'm a put down this amount, but you can become
Speaker 18: a partner or you know, like I'm a seller financeer.
Speaker 5: How do I find outside of just networking?
Speaker 18: Because I know Troy and Rashada was like they found
Speaker 18: somebody in Cleveland that they can trust. So one is
Speaker 18: trust and two, do you go look? I mean, do
Speaker 18: you look for a professional? I guess this is a
Speaker 18: big question, but do you look for a professional? How
Speaker 18: do you find somebody to join your group that not
Speaker 18: only you trust, but has that knowledge of not just
Speaker 18: book knowledge, but knowledge Just say, all right, when this happens, this,
Speaker 18: you know this, this like that's I guess that's my question,
Speaker 18: if that makes any sense.
Speaker 5: So where are you located? So I'm located in Virginia
Speaker 5: right now.
Speaker 18: I live in northern Virginia, but I'm from southern Virginia, Hampton, Uh,
Speaker 18: like in the Hampton University area, if you know, if
Speaker 18: you're familiar with that, Norfolk State, Uh.
Speaker 5: Some HBCUs in the area.
Speaker 18: But it's a lot of areas black areas Newport News, Norfolk,
Speaker 18: Portsmouth that are on the verge of I would say gentrification,
Speaker 18: but they not quite there yet. And we're trying to
Speaker 18: get active in the market. But you know, we don't
Speaker 18: have that that that that that game, that real game,
Speaker 18: not just open up a book game. But like you said,
Speaker 18: you you know all the ins and outs, and we're
Speaker 18: just trying to look for something like that.
Speaker 5: Man.
Speaker 7: So I would say, once again, just trying to find
Speaker 7: local mentors and not necessar not not necessarily somebody to
Speaker 7: invest with you. But maybe you have to just pay
Speaker 7: somebody for the knowledge for the time, you know, just
Speaker 7: to get into it.
Speaker 5: But you know, I got a platform called learnfromcris dot com.
Speaker 7: You can go in there and they'll give you a
Speaker 7: lot of the basic information and then that'll put you
Speaker 7: in a position if you want to go talk to
Speaker 7: somebody locally, because sometimes active investors don't want to deal
Speaker 7: with people that they can tell are completely green, you know,
Speaker 7: So if you can go in there and get yourself
Speaker 7: acclimated some things.
Speaker 5: Go to YouTube.
Speaker 7: There's a lot of stuff on there, and I'm not
Speaker 7: trying to be cliche, but I'm saying, like trying to
Speaker 7: get yourself as educated as possible so that when you
Speaker 7: get in front of these people, you can have an
Speaker 7: intelligent conversation with them about what you're.
Speaker 5: Trying to do. And man, Virginia has a lot a
Speaker 5: lot of investors.
Speaker 7: I mean, you could between Instagram, I know, I know
Speaker 7: several between Instagram and Facebook that might be able to
Speaker 7: help you.
Speaker 5: You can also look up local meetups.
Speaker 7: You know, just type in whatever the nearest big city
Speaker 7: to you and investment meetups, and that'll bring you to
Speaker 7: some groups that may have somebody's willing to work with you.
Speaker 5: But man, networking between social.
Speaker 7: Media platforms like Earn your Leisure and and uh yeah,
Speaker 7: just the Facebook groups. Man, I'm pretty sure you can
Speaker 7: find somebody if you all are looking.
Speaker 3: And like I said, we're gon, we're gonna going through
Speaker 3: that on our Facebook.
Speaker 9: I think, Yeah, Chris, I'm gonna take a quote and
Speaker 9: Jerome you can. You can use this quote and apply it.
Speaker 2: Man.
Speaker 9: I took this right from your page. I was like,
Speaker 9: this is dope. You said there's three things you need
Speaker 9: to be successful. The knowledge, the opportunity, the money. One
Speaker 9: you can control, the two you gotta find.
Speaker 5: That's it.
Speaker 9: So take that with you, Jerome, Knowledge, opportunity, money one
Speaker 9: you control.
Speaker 2: To you gotta go find my man, appreciate you.
Speaker 3: Sure when you see me running through Atlanta in l A,
Speaker 3: Los Angeles, ALV, Houston, Texas and these things l A too,
Speaker 3: it's a great cloud over New York right now.
Speaker 9: I've seen b Rude put your Headlanta Headquarters all the
Speaker 9: way e y Land Headquarters.
Speaker 3: It's already up and running.
Speaker 9: But we already said that we're re ramping it. We yeah,
Speaker 9: we got b rue. We got to meet up somewhere. Man,
Speaker 9: I know you in DC, but when we're Atlanta, you
Speaker 9: gotta come come check us out.
Speaker 3: Shout out to d C, Shout out to PG County. Shot.
Speaker 3: Earth is big though. That's why I know it was
Speaker 3: shot in New York. It's New York forever. But I
Speaker 3: just say that halfway, joking, only halfway. But the Earth
Speaker 3: is big though. We can't just be stuck in our neighborhood.
Speaker 3: It's like if something is too out of expensive or
Speaker 3: something that's just you know, never be afraid to expand
Speaker 3: like you know, this is this is, this is a
Speaker 3: large earth that we live in, even out of the country,
Speaker 3: Like you know what I mean, Like there's no there's
Speaker 3: no limits to anything that we do in life. And
Speaker 3: we put we put geographic limits on ourselves because where
Speaker 3: we're from, the neighborhoods that we grew up in in
Speaker 3: our family. But you never know, you might be pleasantly
Speaker 3: surprised when you start to travel and you see different
Speaker 3: areas and it's different opportunities, and it's different cultures and
Speaker 3: different people and they have different dialects. So you know, me,
Speaker 3: I love to travel, Troy. Troy gonna be here forever.
Speaker 9: But our wise man told me this. Man, he said
Speaker 9: this to us the other day. He said, go where
Speaker 9: you're celebrated. That's a fact too, Go where you're celebrated.
Speaker 10: Man.
Speaker 2: I was like, ooh, well.
Speaker 3: We're always gonna be celebrated in New York, Brooklyn shot celebrate.
Speaker 2: I was like, that's powerful. Natalie, what's up yourself?
Speaker 9: You've been unmuted? Has been on point today on Natalie.
Speaker 9: Right when I say that, you know how his work
Speaker 9: ain't no frish breaks. So Natalie, we gotta move on.
Speaker 9: We gotta move on. Let's go to Samantha. Samantha, we
Speaker 9: I'm mute and you i'mute yourself.
Speaker 8: Hello.
Speaker 2: There we go. Let's keep this thing rolling. Samantha, thank you.
Speaker 3: I got thank you.
Speaker 10: So good evening, everyone, good evening. Shout out to the
Speaker 10: earners and my cousins that are listening. I sent this
Speaker 10: to them. We have started our own investment group. Our
Speaker 10: overall goal, or one of our overall goals, would be
Speaker 10: to do this in Jamaica because our family is from there.
Speaker 10: Our parents are from Saint Anne. And but you know,
Speaker 10: we have to start small.
Speaker 2: Yeah, yeah, Yeah, I'm with that. Shout out to Jamaica.
Speaker 10: So my question is how did you structure the business?
Speaker 10: Did you do it on your own and then do
Speaker 10: like a joint venture with other people, or did you
Speaker 10: all create your own business?
Speaker 5: How did that work? Yeah, that's a great question. So
Speaker 5: each project I do has its own individual entity, so
Speaker 5: its own individual.
Speaker 7: LLC, and that LLC owns the project, and so there's
Speaker 7: several ways you can structure from there.
Speaker 5: It depends on who is playing what role.
Speaker 7: So if you're bringing on other investors, some of them
Speaker 7: may want to be a member of your LLC, some
Speaker 7: of them want to joint venture where your.
Speaker 5: Two LLCs work together some of you.
Speaker 7: Some of them may want if they just want to
Speaker 7: be passive investors, you may have to structure something where
Speaker 7: they are in a limited partnership with you, where you
Speaker 7: are the general partner that makes decisions and they are
Speaker 7: like a passive limited partner that may get the first
Speaker 7: returns out of the deal. So it varies greatly. It
Speaker 7: really depends on the scope of the project you're trying
Speaker 7: to do. It's nothing wrong with all y'all just putting
Speaker 7: together and doing one LLC. If that's what you want
Speaker 7: for the first project. Uh, of course this is this
Speaker 7: is not legal advice. You always just see legal counsel.
Speaker 7: But yeah, so, like I said, each project I do
Speaker 7: is different, structure, a little different.
Speaker 3: No, that was that was That was a great question, Samantha.
Speaker 2: Appreciate you.
Speaker 3: Let's go to one more. Let's go to one more.
Speaker 9: And I see that Shannon is telling you the contact.
Speaker 9: So here's Shannon up. She's in the chat here. Shannon,
Speaker 9: shout out to Shannon.
Speaker 3: Let's get one more.
Speaker 2: Let's see.
Speaker 9: Let's see this is a we haven't seen this name before.
Speaker 9: We haven't seen this name for Ashley. We're coming to you, Ashley.
Speaker 2: What's going on? I mute yourself. You've been unmuted?
Speaker 6: What okay?
Speaker 24: Sorry, I'm so excited I supposed to hear that part.
Speaker 5: Sorry.
Speaker 24: I appreciate y'all for allowing me to speak and ask questions. Chris,
Speaker 24: I want to thank you for what you're doing for
Speaker 24: the city of Houston. I'm originally from Houston. My dad
Speaker 24: was born and raised in fifth Ward. It helped me
Speaker 24: great a really special place in my heart. My major
Speaker 24: was urban planning. I went to Brown University. I'm a
Speaker 24: little nervous I'm sorry. I went to Brown University studied
Speaker 24: urban planning, came back home and was like, man, I
Speaker 24: see this happening, Like I could tell all the things
Speaker 24: that you've been talking about.
Speaker 6: When you see stuff like.
Speaker 24: Infrastructure coming to a place, like you said, sidewalks even
Speaker 24: down to bus buses or light rails coming into a
Speaker 24: community that were never there before, that's another marker. And
Speaker 24: I just started seeing this, like, man, when are we
Speaker 24: gonna all get on the same page and to see
Speaker 24: you do it.
Speaker 6: I moved away from Houston.
Speaker 24: Unfortunately I didn't have the opportunity to invest. I mean
Speaker 24: I will now and I have the tools and I've
Speaker 24: been learning these last few years. But I left Houston
Speaker 24: because a lot of people weren't willing to give me
Speaker 24: the opportunity to work in urban planning and really real
Speaker 24: estate development because I didn't have the experience. I just
Speaker 24: had the knowledge, and I came to LA and I
Speaker 24: come back to Houston and I just see it like
Speaker 24: every month I've been coming back for the last three months,
Speaker 24: and like it's happening, like I've been telling people, and
Speaker 24: you know, Paul revereing it like hey, gentrification, grification is coming,
Speaker 24: like you know, these people are moving in here with
Speaker 24: you know, their privilege, but they don't have you know,
Speaker 24: the roots here.
Speaker 6: They're there for the capitalist opportunities.
Speaker 24: And my one reason why I raised my hand, had
Speaker 24: no idea they were gonna call me, but I wanted
Speaker 24: to thank you personally, even if it's via zoom. I
Speaker 24: appreciate what you're doing and sparking even the thought because unfortunately,
Speaker 24: the reason why I moved from Houston too is a
Speaker 24: lot of people were so driven on being corporate, corporate,
Speaker 24: corporate only and we see something like co It happening
Speaker 24: where the rug is pulled out from everybody and you know,
Speaker 24: either you had that mindset of pivoting or now you're
Speaker 24: fumbling to get there. And the platform like eyl is helping,
Speaker 24: you know, people all over the globe to really learn
Speaker 24: how to pivot. And I appreciate you guys. I'm I'm
Speaker 24: an earn I've been an earnest since March, and I've
Speaker 24: been telling.
Speaker 6: People like, hey, you need to get with I mean, I.
Speaker 24: Appreciate y'all putting it on YouTube, but getting in the
Speaker 24: community is totally different. Like you mentioned, when you talk
Speaker 24: to a stranger and they're believing in you and giving
Speaker 24: you resources. You have to be able to tap into that,
Speaker 24: so paying what was due, I mean luckily I did
Speaker 24: it early.
Speaker 6: So you know, you always reward the people that adopt early.
Speaker 24: And I appreciate you, guys, but you know it's still
Speaker 24: valuable at the price that it is now. Chris, I
Speaker 24: will ask as I'll get to my question, I'm sorry
Speaker 24: for I'm trying to I'm.
Speaker 3: Trying to get like, go.
Speaker 6: Thank y'all.
Speaker 24: But being in another city, do you think it's feasible?
Speaker 24: Because I have some of the knowledge I have, I
Speaker 24: see it and this is happening in every city in
Speaker 24: the country, you guys, So.
Speaker 6: Wherever you are, you you can tap in.
Speaker 24: But do you feel it's possible to be an investor
Speaker 24: from long distance or do you.
Speaker 6: Feel like you need to be in that specific city.
Speaker 24: I mean, la Is prices are going down because so
Speaker 24: many people moved, so the demand is not there. But
Speaker 24: you know, say for instance like an Arizona or Nevada.
Speaker 24: I don't live there, but I can tell that those cities,
Speaker 24: the cities there are gonna gonna be moving into a
Speaker 24: redevelopment phase soon.
Speaker 6: So what is your advice on that.
Speaker 7: You can definitely invest anywhere in the country. I mean,
Speaker 7: it's all about having a team in place, right. It's
Speaker 7: no different than investing in a stock. But you don't
Speaker 7: know where the headquarters is, you don't know where the
Speaker 7: CEO is, you don't know where the factory is.
Speaker 5: You just have to have the right systems and the
Speaker 5: right team around you.
Speaker 7: So whatever city you're go into, you're gonna need a
Speaker 7: good realtor, a good property manager, a good contractor, and
Speaker 7: somebody that can manage them, you know, or you have
Speaker 7: to have good open communication with them, or you know,
Speaker 7: local investors that.
Speaker 5: You partner with.
Speaker 7: That's probably the easiest way to get into a new
Speaker 7: market instead of trying to do it on your own.
Speaker 7: So yeah, it's definitely possible. I know, I know some
Speaker 7: friends that only invest out of town. They don't even
Speaker 7: invest in the city they live in. So it's definitely practical.
Speaker 2: Appreciate you, appreciate your ass.
Speaker 3: Thank you, ladies and gentlemen. Chris. They said that you
Speaker 3: look tired, man. Hustlers don't sleep, man.
Speaker 2: I'm telling they they say, Troy, you suspended all guidelines.
Speaker 9: Man, I gotta get used to Wednesday.
Speaker 3: Now, Chris Man, I really, really really really appreciate it.
Speaker 3: We're going to go into some more stuff with Chris,
Speaker 3: but before before we wrap, I want to give Chris
Speaker 3: the last word. But before we finish, once again, if
Speaker 3: anybody has just joined at this point in time, this
Speaker 3: was just a you know, an open house of what
Speaker 3: we do once a month for Eyo University and the
Speaker 3: interstident joining Eyo University. We have a Facebook group, we
Speaker 3: have a book club, movie club, We do bi weekly
Speaker 3: real estate called MT the Mortgage Guy. We do. We
Speaker 3: do these type of classes every single week, every Wednesday.
Speaker 3: And there's archives, like over seventy five archive classes, so
Speaker 3: as soon as you join, you have access to all
Speaker 3: of that stuff and everything from disability insurance to how
Speaker 3: to buy a car, to host real estate wholesaling everything.
Speaker 9: New orientation for new earners, we got accountability try it.
Speaker 3: What date is the orientation.
Speaker 9: There's going to be November fourteenth, if I'm not mistaken,
Speaker 9: I could be No fourteen.
Speaker 3: November fourteenth at one o'clock. We have November twenty first
Speaker 3: we have orientation. We treating it's like a it's a
Speaker 3: real university, so like you know when you go to
Speaker 3: school and you have freshman orientation. So you know, we
Speaker 3: have a lot of different spots. We got we got
Speaker 3: our Facebook group, we got the website, so it might
Speaker 3: be kind of hard for people to navigate. So we
Speaker 3: got orientation on the twenty first, and yeah, man, this
Speaker 3: is this is definitely gonna be the biggest, the biggest
Speaker 3: educational platform in existence. And twenty four hours and twenty
Speaker 3: four hours, the price goes up. So if you're interested
Speaker 3: in joining, the link is in only the link, the
Speaker 3: only discount link is in YouTube because uh, we didn't
Speaker 3: want to do a cold because there's issues with the cold.
Speaker 3: So just hit the hit the link in YouTube. It's pinned.
Speaker 3: I'll put it in the comments section again. And yeah, man,
Speaker 3: if you're interested in joining, it's only up from here.
Speaker 3: It's only up from here. But Chris, I want to
Speaker 3: give you the final word because I mean, we're going
Speaker 3: to be doing some more stuff together. I don't know
Speaker 3: if you're ready to talk about that or not yet,
Speaker 3: but yeah.
Speaker 5: We can talk about it.
Speaker 3: You want to tell you know, yeah, e y L
Speaker 3: E y L Podcast Network. You obviously know that, you know,
Speaker 3: the people know we have a strong track record with
Speaker 3: our show, our podcast and market mondays. We said earlier,
Speaker 3: like in March, like we want to we want to
Speaker 3: work with other creatives and other entrepreneurs and different people
Speaker 3: to kind of, you know, help them out as far
Speaker 3: as their journey in podcasting and market. Mondays was our
Speaker 3: first experiment and that was wildly successful experiment. So now
Speaker 3: we we we got a long list of other people
Speaker 3: that we're gonna bring on the label and Chris, Chris
Speaker 3: hit me up, man, so I think, yeah, we're gonna
Speaker 3: were gonna work on that podcast.
Speaker 7: Man, it's long overdue for me, man, I just didn't
Speaker 7: have the capacity to do it on my own. So
Speaker 7: it's an honor to partner with the number one.
Speaker 3: And and and this just just this just goes to show, like,
Speaker 3: you know, we're working together. You know, young black entrepreneurs.
Speaker 3: Chris is in real estate, we're in the media space,
Speaker 3: and he recognized that we can we can bring some
Speaker 3: value to him, he can bring some value to us.
Speaker 3: So instead of us working apart, were much strong if
Speaker 3: we come together. And if you know, all of these
Speaker 3: big corporations can have podcast networks. I can't. Why can't
Speaker 3: you all have a podcast network? And all of the
Speaker 3: relationships that we built and build it out from there. So, yeah,
Speaker 3: you heard it first. You heard it first, ladies and gentlemen, This.
Speaker 9: Is breaking news alert. Look, look we got so we
Speaker 9: got a couple more breaking news alerts that we're going.
Speaker 9: We ain't ready to announce him. Yeah, but trust me.
Speaker 14: The label growing, Oh no, it's gonna be like Rockefeller.
Speaker 3: It's gonna be like Rockfeller in the early two growing.
Speaker 2: Yeah, expeditionous.
Speaker 3: But how can they? How can they your crowdfund? Know,
Speaker 3: you said your crowdfund is full, but talk about that
Speaker 3: as far as like, are you going to open up
Speaker 3: a new crowdfund? What's your plans as far as your development, like,
Speaker 3: let the people know how they can follow you, all
Speaker 3: the information that you you know, you have to give
Speaker 3: to the people. Yeah.
Speaker 7: Man, So right now I'm actively looked at a few
Speaker 7: different projects that I may use for the next crowdfund.
Speaker 7: I have not figured it out yet, but as soon
Speaker 7: as I do, everybody they will know, and Eyl probably
Speaker 7: the first ones to know about it. Yeah, so just
Speaker 7: stay tuned for that. I can technically going to do
Speaker 7: one a year if you hit the max. So uh,
Speaker 7: actually the end of November, I'll be able to start
Speaker 7: putting another one together. Yeah, so if you want to
Speaker 7: follow me, just Underscore Investor on Instagram.
Speaker 5: I have a YouTube channel. Uh. Like I said, if
Speaker 5: you want to learn more about real.
Speaker 7: Estate investing specifically, you can go to learn from Chris
Speaker 7: dot Com. I have actually have a free guide on
Speaker 7: five strategies where you can invest passively. So for the
Speaker 7: busy people that don't have time and don't want to
Speaker 7: be active wholesalers or flippers, I got five strategies that
Speaker 7: I can that I'm showing you how you can truly
Speaker 7: invest passively and still make money.
Speaker 3: Yeah.
Speaker 7: So, and that that also leads into a membership group
Speaker 7: where I'm probably one of the only instructors online that
Speaker 7: has courses that's actually talking about gentrification, talking about crowdfunding
Speaker 7: and all those things inside the platform as well. So, yeah, man,
Speaker 7: learn from Chris dot Com investor on Instagram.
Speaker 5: That's pretty much it.
Speaker 3: There you have it. But investor is Underscore I n
Speaker 3: V S t R.
Speaker 5: Yeah.
Speaker 7: Yeah, the only vowel is that I are.
Speaker 5: You Just go to the your leisure page and click
Speaker 5: click my Yeah.
Speaker 3: We put his Instagram in the description of this video
Speaker 3: as well. The fact you definitely should follow Chris on
Speaker 3: Instagram a lot, a lot of gyms. Yeah, legend.
Speaker 2: That's why I said.
Speaker 9: We don't throw around the word legend a lot. But
Speaker 9: this guy definitely is one man. So shout out to Houston,
Speaker 9: the third World, third Ward, fifth Ward. Shout to Beyonce
Speaker 9: Ivey Park Joint drove tomorrow too, so be on the Friday,
Speaker 9: look on the lookout.
Speaker 3: Shout shout of Dallas, Texas too. I was out there
Speaker 3: for the first time, my first time in Dallas, and
Speaker 3: that's a dope city too. Now we just got to
Speaker 3: go to Austin. You gotta go to Austin, Texas. But
Speaker 3: shout out to the whole state of Texas. Don't mess
Speaker 3: with Texas, man. Everything is is what is it? Everything
Speaker 3: big into there you go. Yeah, you know they're having
Speaker 3: a tough time right now with the sports teams. But
Speaker 3: so good, all right, so good man. But nah, Chris Brother,
Speaker 3: I appreciate you, love, I appreciate you. Oh yeah, so
Speaker 3: stay safe, man. We'll be in contact, and everybody, thank
Speaker 3: you for joining us. This video will be saved on YouTube,
Speaker 3: so you can go back and watch it if you
Speaker 3: if you missed a part of it, and tell everybody
Speaker 3: about Chris and tell everybody about all of the great
Speaker 3: work that he's doing. And hopefully you got some information
Speaker 3: that you can actually use and replicate in your part
Speaker 3: of the world. That's what this is all about. Each one,
Speaker 3: teach one. So all right, you have say.
Speaker 2: What's to you next week? Go call somebody, man, go
Speaker 2: call somebody. Reach out.
Speaker 9: One test can change a lifetime or change somebody's life.
Speaker 9: One call can change somebody's life. Make sure y'all do that.
Speaker 9: Go through your contact list now, just reach out. Let
Speaker 9: somebody know you thinking about them. All right, peace, We
Speaker 9: love y'all.
Speaker 3: We out.
Speaker 2: Chris, love bro.
Speaker 3: My Brad.
Speaker 4: I do it for my school being force bag, drop
Speaker 4: Bag Drop Mike, drop Bag drop Drop.
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