WEBVTT - EYL #115 Credit is King feat. Him 500 0:00:00.120 --> 0:00:00.320 Hi. 0:00:00.520 --> 0:00:03.280 I'm Sherry Harris, owner of Life Source Water. As a 0:00:03.320 --> 0:00:06.480 new grandmother in lifelong Californian, I care about what's in 0:00:06.519 --> 0:00:09.960 the water my family uses every day. For over forty years, 0:00:10.080 --> 0:00:13.400 our whole house water system has protected Bay Area families 0:00:13.400 --> 0:00:16.400 with filtered water from every tap. Now we are offering 0:00:16.480 --> 0:00:20.040 a double dip in savings free basic installation plus an 0:00:20.079 --> 0:00:22.520 extra two hundred and fifty dollars off. That's up to 0:00:22.600 --> 0:00:25.560 twelve hundred dollars in savings. Call our factory at one 0:00:25.600 --> 0:00:28.800 eight hundred Water ninety nine or visit Life sourcewater dot com. 0:00:28.880 --> 0:00:30.360 Hurry offer in September thirty. 0:00:30.440 --> 0:00:31.920 Warranty limitations applying. 0:00:33.720 --> 0:00:38.960 My graduates from my school being forts Bag, drop Bag Drop, 0:00:39.600 --> 0:00:43.280 Mike drot Bag, drop bag drop. 0:00:52.040 --> 0:00:55.840 All right, guys, welcome back. This is an extremely highly 0:00:55.880 --> 0:00:59.880 anticipated episode. Before we start, we gotta let you know. 0:01:00.000 --> 0:01:03.440 So you know, we got a lot a lot of 0:01:03.520 --> 0:01:07.000 requests to extend the sale for Eyle University and it 0:01:07.000 --> 0:01:09.600 was supposed to get shut down on January one, but 0:01:10.319 --> 0:01:12.960 as you know, Ayle University, or as you might not know, 0:01:13.040 --> 0:01:17.760 it's actually ending as its current form and graduate school 0:01:17.800 --> 0:01:20.440 will begin. So we was planning on launching and graduate school. 0:01:20.880 --> 0:01:23.560 January first ran to some technical difficulties, had to make 0:01:23.600 --> 0:01:25.480 sure everything was right with the website and all that, 0:01:25.560 --> 0:01:28.120 so we pushed it back a week. So you guys 0:01:28.160 --> 0:01:30.400 still have seven days to join at the current price. 0:01:30.840 --> 0:01:35.800 The price made double may, tripping, may quadruple. We have 0:01:35.880 --> 0:01:39.119 to know, but it's going to be completely revamped. It's 0:01:39.120 --> 0:01:42.959 gonna be a different situation. But ey University includes over 0:01:43.000 --> 0:01:46.960 one hundred past webinars, weekly webinars, access to our movie club, 0:01:47.000 --> 0:01:49.160 access to our book club, access to our Facebook group, 0:01:49.760 --> 0:01:52.280 bi weekly vial estate calls with MG the mortgage guy, 0:01:52.600 --> 0:01:56.240 and once a month financial planning calls with me. All 0:01:56.280 --> 0:01:59.080 of that is included in the Eyo University membership. So 0:01:59.080 --> 0:02:01.400 if you're interested, you can or to Eyo university dot 0:02:01.400 --> 0:02:05.200 com right now and into promo code e y l 0:02:05.400 --> 0:02:10.880 at checkout for forty percent off. You got five days. Yeah, 0:02:10.919 --> 0:02:14.160 So you know, this is one of these situations where 0:02:15.400 --> 0:02:21.080 it is the momentum has built pretty substantially over the 0:02:21.160 --> 0:02:26.200 last year, and him five hundred has really grown an 0:02:26.200 --> 0:02:31.400 online community, and he's done it diligently, and he's done 0:02:31.440 --> 0:02:33.160 it in real life. We actually got a chance to 0:02:33.160 --> 0:02:36.320 see a lot of his work. Want to see his conference, 0:02:36.440 --> 0:02:39.120 and it's very impressive what he's put together. So we've 0:02:39.120 --> 0:02:42.359 talked about credit before and shout out to everybody that's 0:02:42.360 --> 0:02:44.880 been on our platform. Ey University and EYL has talked 0:02:44.919 --> 0:02:48.880 about credit and the credit dude. And but for the 0:02:48.880 --> 0:02:50.920 most part, the credit that we've talked about is like 0:02:51.400 --> 0:02:53.800 on the along the lines of like how to repair 0:02:53.840 --> 0:02:57.120 your credit or how to establish you know, basic level 0:02:57.200 --> 0:02:59.639 established credit, which is important. We need that levels of 0:02:59.680 --> 0:03:03.800 understand but you know, it's like there's different sectors of 0:03:03.919 --> 0:03:07.680 credit and just different sectors of financial literacy. So him 0:03:07.720 --> 0:03:12.520 five hundred, he focuses on a variety of different things. 0:03:12.600 --> 0:03:14.800 But I guess what he's been known for the most 0:03:14.840 --> 0:03:18.480 is how to turn credit into cash. And it's a 0:03:18.480 --> 0:03:21.160 lot of cool stuff as far as like working with 0:03:21.280 --> 0:03:26.600 credit and understanding how to utilize cards, understanding how to 0:03:26.720 --> 0:03:29.480 utilize cards, understanding all kinds. 0:03:29.280 --> 0:03:33.519 Of we don't seen it all in real life, yea, all. 0:03:33.440 --> 0:03:35.320 Kinds of stuff, and yeah, it happened in real life. 0:03:35.360 --> 0:03:37.560 Like I said, you know, we shout out to the 0:03:37.600 --> 0:03:41.120 whole crew in Atlanta. I don't want to to get anybody, 0:03:41.640 --> 0:03:48.600 but you know, Alex him five hundred Gooch Maddy j 0:03:48.720 --> 0:03:55.160 just two weeks out, two weeks out, Yeah, everybody her 0:03:55.240 --> 0:04:00.160 five hundred. Yeah, most that's a fact. So we we 0:04:00.200 --> 0:04:02.040 go down there. He realize that they got a whole 0:04:02.040 --> 0:04:04.280 movement of entrepreneurs out there that's doing that thing. And 0:04:04.320 --> 0:04:06.520 the young they're black, they're all networking with each other. 0:04:06.960 --> 0:04:10.040 And him five hundred is the he's one of the 0:04:10.440 --> 0:04:14.800 members of the crew. And everything that he he raps about, 0:04:14.880 --> 0:04:17.080 he talks about real life. 0:04:17.120 --> 0:04:21.680 They said, he's a positive pressure guy. Yo, you got 0:04:21.680 --> 0:04:25.400 that car, you need to get this call. 0:04:25.480 --> 0:04:27.920 It's like these rappers, like some rappers actually live it. 0:04:28.040 --> 0:04:31.000 Some rappers just rapping about it. But everything he talks 0:04:31.040 --> 0:04:34.200 about he actually lives and we saw it firsthand. So 0:04:34.440 --> 0:04:37.479 this is an exciting conversation. I'm excited to have it. 0:04:37.520 --> 0:04:40.880 We're going to talk about a wide variety of hacks, 0:04:41.320 --> 0:04:45.320 financial literacy, credit stuff that you can't google. This information 0:04:45.360 --> 0:04:47.599 you can't google. That's what you got. 0:04:47.640 --> 0:04:49.280 This is in a safe you got you can't crack 0:04:49.320 --> 0:04:49.880 the safe on this. 0:04:50.000 --> 0:04:53.279 I like that. So Marcus Barney aka him five hundred, 0:04:54.440 --> 0:04:56.400 Welcome to EYL. Thank you for joining us. 0:04:56.440 --> 0:04:58.360 And I appreciate you guys having me. I appreciate it. 0:04:58.440 --> 0:04:59.000 I'm excited. 0:04:59.160 --> 0:05:01.880 Yeah, man, yeah, yeah, So let's let's jump right into it. 0:05:01.960 --> 0:05:06.239 So you have a whole community and you teach thousands 0:05:06.279 --> 0:05:09.200 of people. But it didn't always start like that, right, 0:05:09.360 --> 0:05:13.760 So from my understanding, you started as a manager in 0:05:13.800 --> 0:05:14.719 the cell phone store. 0:05:15.440 --> 0:05:18.760 Yeah, so I getting started, one of the things that 0:05:18.839 --> 0:05:21.839 I noticed was, I mean, early on what I started 0:05:21.920 --> 0:05:23.640 was that was actually doing self phone repair. But I 0:05:23.680 --> 0:05:27.200 started with real estate at eighteen in California. But that 0:05:27.279 --> 0:05:29.960 was two thousand and six, market crash two thousand and seven, 0:05:30.000 --> 0:05:32.240 two thousand and eight, I moved to Atlanta. So when 0:05:32.279 --> 0:05:36.240 I moved to Atlanta, I found myself doing cell phone 0:05:36.279 --> 0:05:40.000 repairing cell phones, like doing run around the city fixing 0:05:40.000 --> 0:05:42.040 everybody's cell phones, and ended up landing me in a 0:05:42.160 --> 0:05:44.760 cell phone repair shop, and I partnered with the owner 0:05:44.800 --> 0:05:48.200 and then I started to run a cell phone shop 0:05:48.240 --> 0:05:50.279 for him on a cell phone repair shot. 0:05:51.279 --> 0:05:54.919 Okay, so how did that morph into because I know 0:05:54.920 --> 0:05:57.880 there was some trials and tribulations up to them, How 0:05:57.880 --> 0:05:59.760 did that turn into what you're doing now? 0:06:01.279 --> 0:06:04.039 Honestly, that's one of the things that I don't even 0:06:04.040 --> 0:06:08.000 think a lot of people don't know, share a little 0:06:08.000 --> 0:06:11.719 bit of insights that I ran into a time at 0:06:11.760 --> 0:06:14.200 that age, between the age of eighteen and twenty five. 0:06:14.240 --> 0:06:16.160 I always tell people it's like the most trying time 0:06:16.240 --> 0:06:20.000 for a young man. And I let money get ahead 0:06:20.040 --> 0:06:22.279 of me right I started making I probably was making 0:06:22.360 --> 0:06:24.480 seven to ten thousand dollars a month at the time, 0:06:25.560 --> 0:06:28.920 had maybe thirty forty thousand dollars in savings. And so 0:06:29.320 --> 0:06:32.760 as it started to grow, I started to become addicted 0:06:32.800 --> 0:06:35.479 to money, you know. And as money starts to play 0:06:35.480 --> 0:06:37.960 a part, it plays, it agreed comes in the play. 0:06:38.400 --> 0:06:41.640 And what happened was is that the owner Sprint, came 0:06:41.680 --> 0:06:45.159 and told us, basically, if you don't have three locations, 0:06:45.200 --> 0:06:47.039 you have to shut your repair center down. What a 0:06:47.080 --> 0:06:49.400 repair center was making us about twenty plus thousand a 0:06:49.400 --> 0:06:52.880 month with me running it, I was bringing I was 0:06:52.920 --> 0:06:55.480 taking fifty percent, he was taking fifty percent. He put 0:06:55.520 --> 0:06:58.120 it in. He was like, yo, well listen, give me 0:06:58.160 --> 0:06:59.800 some time. I'm gonna figure something out. But at this 0:06:59.839 --> 0:07:03.400 time on everybody was like buying iPhones, you know, on 0:07:03.440 --> 0:07:06.080 the black market, to resell to send overseas. And this 0:07:06.120 --> 0:07:08.960 is when Sprint first started doing it. So people will 0:07:09.000 --> 0:07:11.040 come in and people will try to buy iPhones from 0:07:11.120 --> 0:07:14.840 us for like three four hundred bucks over regular price, 0:07:15.760 --> 0:07:20.200 but we got paid off the contract. Well, he was like, yo, 0:07:20.480 --> 0:07:25.160 if I may have an account that probably can order 0:07:25.600 --> 0:07:29.400 like a few hundred iPhones, you think that the people 0:07:29.440 --> 0:07:34.480 will buy them. Like, I'm sure they'll buy guaranteed. 0:07:34.560 --> 0:07:35.680 It's like the first iPhone. 0:07:36.000 --> 0:07:38.160 This is the it was multiple but it was when 0:07:38.200 --> 0:07:41.200 they first came to Sprint. So I'm like, yeah, for 0:07:41.320 --> 0:07:46.320 sure they're buying. I put the phone call in. He 0:07:46.400 --> 0:07:50.520 brought the account ordered one hundred, one hundred iPhones, one 0:07:50.600 --> 0:07:54.920 hundred and fifty iPhones. They was worth one hundred thousand dollars. Well, 0:07:55.080 --> 0:08:01.640 we sold them, split it and twenty two years old. 0:08:02.120 --> 0:08:03.800 I don't know the back end yet. I don't really 0:08:03.880 --> 0:08:05.000 know business. 0:08:05.680 --> 0:08:08.520 He said. Insurance are covered MI. 0:08:08.800 --> 0:08:12.400 I'm like, yeah, Well he found out the rough and 0:08:12.520 --> 0:08:17.080 the rugged truth insurance only covered six thousand dollars. Since 0:08:17.160 --> 0:08:20.800 insurance covered six thousand dollars, you owe ninety four thousand 0:08:21.000 --> 0:08:24.239 on one hundred thousand dollars worth of iPhones. They already 0:08:24.280 --> 0:08:27.520 then came out and looked into it. Nobody figured out 0:08:27.560 --> 0:08:32.200 what happened where they got ordered from nothing, but since 0:08:32.240 --> 0:08:37.240 it came under his story ID it came back a 0:08:37.320 --> 0:08:40.520 year later he goes and submits information and say, well, 0:08:40.520 --> 0:08:43.360 it came from this IP address, and if it came 0:08:43.360 --> 0:08:47.000 from this IP address, he did it and threw me 0:08:47.080 --> 0:08:53.520 under the bus. And at this time, now I'm twenty three, 0:08:53.920 --> 0:08:57.080 twenty four, twenty three almost twenty four, were going back 0:08:57.160 --> 0:09:01.160 and forth to court and my lawyer just go He's 0:09:01.200 --> 0:09:04.800 just like, yo, listen, it's nothing concrete saying you did it. 0:09:05.720 --> 0:09:08.600 But I've seen people convicted on less and I would 0:09:08.679 --> 0:09:12.600 hate for you to go and fight it and still lose. 0:09:12.840 --> 0:09:15.600 And I'm like his role, he said, you can put 0:09:15.600 --> 0:09:18.480 that in there, like basically, if you tell and go 0:09:18.520 --> 0:09:20.120 to prison, you're still going to Now you're going to 0:09:20.160 --> 0:09:23.200 go to prison with the jacket on like a jail. 0:09:23.400 --> 0:09:26.760 You told. So what's your options is it go to 0:09:26.840 --> 0:09:28.680 jail or repay? Did they give you that option? Like 0:09:28.679 --> 0:09:30.160 you got to pay this ninety four thousand or go 0:09:30.160 --> 0:09:30.520 to jail. 0:09:30.800 --> 0:09:33.280 So that's what they what they did was it's crazy, listen. 0:09:33.360 --> 0:09:34.959 This is one of the reasons and I always say it, 0:09:34.960 --> 0:09:38.600 I'm thankful I had a white lawyer for so long. 0:09:40.679 --> 0:09:42.400 We didn't see eye to eye. 0:09:42.520 --> 0:09:43.160 I let him go. 0:09:44.000 --> 0:09:47.120 I was going back and forth to court, and I 0:09:47.200 --> 0:09:50.920 hire one of my friend's wife to be my lawyer. 0:09:50.960 --> 0:09:53.240 She was a lawyer. She came to court and when 0:09:53.280 --> 0:09:56.040 she came to court, she came to court with a 0:09:56.160 --> 0:10:02.480 Louis bag, diamond bracelet, nice watch, a diamond ring, right. 0:10:04.000 --> 0:10:06.720 And I look and I go, you like you look 0:10:06.800 --> 0:10:11.000 popping keep it a buck like you pop it right. 0:10:12.280 --> 0:10:14.240 And I'm just thinking to myself, like I'm fin think 0:10:14.280 --> 0:10:18.800 get grilled. We walk in and DA switched. It was 0:10:18.840 --> 0:10:21.080 nothing but black women. DA's It was a new black girl, 0:10:21.160 --> 0:10:23.280 D eight and all her assistants and her whole team 0:10:23.679 --> 0:10:26.400 was black women. Every other lawyer in the courtroom that 0:10:26.480 --> 0:10:32.679 day was white white men. They some kind of black 0:10:32.679 --> 0:10:37.200 girl magic happened. She came back and she said, well, listen, 0:10:39.720 --> 0:10:42.559 how much you feel comfortable that you owe? What's your 0:10:42.600 --> 0:10:44.040 rep what's the part you feel like you? 0:10:44.080 --> 0:10:44.240 Oh? 0:10:44.480 --> 0:10:48.160 I said sixty thousand. She was like okay, they said, 0:10:48.160 --> 0:10:50.679 you pay the sixty thousand back, you get probation, and 0:10:51.160 --> 0:10:56.079 you get first offenders like it never happened. And I'm 0:10:56.080 --> 0:10:58.160 looking at thinking to myself, I've been fighting this case 0:10:58.160 --> 0:11:02.400 two years going back and forth court and it's over. 0:11:03.120 --> 0:11:08.280 She yeah, it's over sixty thousand and it's over. But 0:11:08.960 --> 0:11:12.240 the part, the most trying part, was through the time. 0:11:13.000 --> 0:11:15.920 I've never been in that situation. So through that time, 0:11:16.520 --> 0:11:19.560 I don't know what life is because I don't got control. 0:11:19.600 --> 0:11:22.280 Now I'm like, yo, I have no control over my life. 0:11:22.320 --> 0:11:25.480 I've never been in a situation where since eighteen i've 0:11:25.480 --> 0:11:28.480 been in real estate, I've always been ahead and in control. 0:11:28.520 --> 0:11:31.400 I felt like I ran, like I ran my life, 0:11:32.000 --> 0:11:35.880 and then I realized, like, yo, you better be on 0:11:35.920 --> 0:11:38.240 the right path to run your life because this can 0:11:38.280 --> 0:11:43.840 be gone like this. And so from there that's when 0:11:43.840 --> 0:11:46.560 I realized, like we closed it out. I got that 0:11:46.679 --> 0:11:50.280 behind me, and then I started figuring out, you know, me, 0:11:50.480 --> 0:11:53.920 I worked in banks, so like knowing all the bank procedures, 0:11:54.559 --> 0:11:57.679 but I know I can't go back if this hold 0:11:57.679 --> 0:11:59.240 was above me. You know, I couldn't do it while 0:11:59.240 --> 0:12:01.520 I was fighting the case. So at that point, that's 0:12:01.559 --> 0:12:04.559 when really I started really learning and digging into credit 0:12:04.559 --> 0:12:06.920 because I had to figure out, like, yo, I have 0:12:07.040 --> 0:12:10.120 to now have my own loop, my financial backing, because 0:12:10.520 --> 0:12:12.880 there's nowhere else for me to get you know, I 0:12:12.920 --> 0:12:14.800 can't go to work. Kind of money I want to make, 0:12:14.840 --> 0:12:16.719 I can't go to work, So I need some kind 0:12:16.760 --> 0:12:18.880 of fund, some kind of trust fund behind me. And 0:12:18.920 --> 0:12:21.400 I started digging into credit, really getting heavy into that, 0:12:23.480 --> 0:12:26.120 and then leveraging everything I did working at the banks, 0:12:26.240 --> 0:12:28.360 and ended up actually even going back to a bank, 0:12:28.400 --> 0:12:31.199 getting back in and kind of helping people. And then 0:12:31.280 --> 0:12:33.480 that's when the credit stuff started, because I couldn't work 0:12:33.480 --> 0:12:35.920 a job because I was used to making money already. 0:12:36.600 --> 0:12:38.760 That's crazy, man, I mean I read your story. It 0:12:38.800 --> 0:12:41.760 was like, you've always been an entrepreneur, and so to 0:12:41.920 --> 0:12:44.320 even have the sixty thousands to beat that that, I mean, 0:12:44.360 --> 0:12:45.400 that's pretty remarkable. 0:12:46.400 --> 0:12:49.600 So I had to make payments. I'm not gonna front. 0:12:49.600 --> 0:12:50.880 I mean I had to make I had to make 0:12:50.880 --> 0:12:52.480 payments to get it. 0:12:52.520 --> 0:12:54.600 Then, yeah, I mean, but yeah, I mean that's one 0:12:54.640 --> 0:12:58.240 of those things where it's like, sometimes everything happens for 0:12:58.280 --> 0:13:00.880 a reason, well not even sometimes. Everything always happens for 0:13:00.920 --> 0:13:03.320 a reason, right, And it's like, like you said, between 0:13:03.360 --> 0:13:06.320 the ages of eighteen and twenty five, especially for anybody, 0:13:06.360 --> 0:13:09.720 but especially young men, especially black men, it's very tempting. 0:13:09.920 --> 0:13:12.280 You have a lot of temptations you have music, you 0:13:12.360 --> 0:13:15.559 have just the culture, society, and a lot of times, 0:13:15.600 --> 0:13:17.520 you know, we want to get to the finish line 0:13:17.520 --> 0:13:21.160 a lot quicker than we should with our parents, with 0:13:21.240 --> 0:13:24.400 our grandparents would advise us. And you know, a hard 0:13:24.400 --> 0:13:25.560 head makes a soft fast that. 0:13:26.920 --> 0:13:28.680 I was actually thinking that, like, your life is fast 0:13:28.679 --> 0:13:30.959 and choosing to move quicker. And then on the other 0:13:31.000 --> 0:13:32.719 part was like we always talk about this line of shot. 0:13:32.760 --> 0:13:34.240 You be like, yo, change the school to cop but 0:13:34.320 --> 0:13:39.040 more poort as loyalties. Yeah, but you got toot out 0:13:39.040 --> 0:13:39.360 the whole. 0:13:39.600 --> 0:13:44.200 But the shining light in that for me is that you, 0:13:44.200 --> 0:13:46.319 you know, saying that using the financial space and me 0:13:46.440 --> 0:13:47.960 being in the financial space. I know, anything on your 0:13:47.960 --> 0:13:50.560 record like that, it prohibits you from a lot, like 0:13:50.679 --> 0:13:52.880 ever really working in the financial space. So it's like 0:13:53.640 --> 0:13:56.120 now you forced to kind of figure it out. You 0:13:56.200 --> 0:14:00.640 still have a financial space mind. But that didn't happen. 0:14:00.640 --> 0:14:03.280 You probably would have just been a regular corporate worker maybe, 0:14:03.559 --> 0:14:05.760 but now you have to like kind of force yourself 0:14:05.800 --> 0:14:07.920 in to be like an entrepreneur on the credit side 0:14:07.920 --> 0:14:11.560 and learn credit. And then that blossomed until where you 0:14:11.600 --> 0:14:12.079 are now. 0:14:12.840 --> 0:14:16.280 So learning What happened was is that I said listen. 0:14:16.400 --> 0:14:17.880 My goal wasn't even getting credit. 0:14:18.440 --> 0:14:18.800 I started. 0:14:19.040 --> 0:14:22.040 I learned credit when I was eighteen. My broker, my 0:14:22.120 --> 0:14:24.040 real estate broker, had a credit pair company. I did 0:14:24.040 --> 0:14:26.120 all the underwrite, but my goal. When I started messing 0:14:26.120 --> 0:14:29.880 on credit, I go, okay, I need to get mine together, right, 0:14:30.160 --> 0:14:33.640 So I start focusing on my credit, figuring it out. 0:14:33.800 --> 0:14:37.240 And when everything happened, I never like literally the date 0:14:37.680 --> 0:14:42.400 was January fourth. It was January fourth, two thousand and 0:14:43.040 --> 0:14:50.680 fifteen when the case closed and was done January twentieth, 0:14:50.720 --> 0:14:53.400 I started my credit repair company. Between that time, I 0:14:53.400 --> 0:14:54.840 was figuring out what am I going to do? Like, 0:14:55.640 --> 0:14:57.120 what am I going to do? I started messing my 0:14:57.120 --> 0:14:59.400 credit and then I said, well, I'm gonna help other people. 0:14:59.520 --> 0:15:01.760 And I remember putting it out there like yo, I'm 0:15:01.800 --> 0:15:03.479 gonna help other people with their credit. 0:15:03.400 --> 0:15:04.520 Right, I'm leveraging. Mind. 0:15:04.560 --> 0:15:06.960 I figured it out, see people need it. I remember 0:15:07.120 --> 0:15:10.560 I made eleven thousand first month. Boom, I go okay, 0:15:10.960 --> 0:15:16.640 I got something. Start slowing down, and I remember like leveraging, 0:15:16.720 --> 0:15:18.800 like starting to build my credit up and figuring out 0:15:18.800 --> 0:15:21.400 what's the benefits because I knew it was more. It 0:15:21.440 --> 0:15:25.040 had to be more than get buy a house, buy 0:15:25.040 --> 0:15:27.920 a car, and get a credit card just for emergency purposes. 0:15:28.080 --> 0:15:30.080 I'm like, nah, it's more to this. This has to 0:15:30.080 --> 0:15:33.560 be worth more than just this what it is on 0:15:33.600 --> 0:15:36.800 the simple on the surface. That's where it started to 0:15:36.960 --> 0:15:40.000 like flourish, and I started digging deep into like, yo, 0:15:40.440 --> 0:15:42.120 how do I really go and get money? If I 0:15:42.120 --> 0:15:43.640 want to get credit card and I want to get 0:15:43.640 --> 0:15:45.560 funded in front of my own business, where do how 0:15:45.640 --> 0:15:46.280 I get the money? 0:15:46.320 --> 0:15:49.560 So in twenty fifteen, right, you said, January, what type 0:15:49.560 --> 0:15:51.080 of things are you doing to leverage your credit? At 0:15:51.080 --> 0:15:52.240 this point? Are in the beginning. 0:15:52.760 --> 0:15:54.800 Now, At the beginning, I was trying to make money, okay, 0:15:55.120 --> 0:15:57.440 So that was the business. That was the business that 0:15:57.480 --> 0:16:01.320 I had, helping people, showing them how to make money. 0:16:01.360 --> 0:16:03.720 So when it came from like I remember working in 0:16:03.760 --> 0:16:07.320 the banks helping helping people with it, and they still 0:16:07.360 --> 0:16:10.720 couldn't get approved. So then at that point I'm going, 0:16:10.760 --> 0:16:13.320 I'm looking now, And that's when I started really publicly 0:16:13.360 --> 0:16:16.280 helping people versus like you know, when I was working before, 0:16:16.320 --> 0:16:18.640 when I'm working in the bank going through all my trials, 0:16:20.120 --> 0:16:20.960 I can help people. 0:16:21.120 --> 0:16:22.280 But it was quiet. 0:16:22.440 --> 0:16:26.280 It wasn't like a marketed company. So now it's out 0:16:26.320 --> 0:16:28.800 publicly and I'm working it and it started bringing in 0:16:29.040 --> 0:16:32.320 So now I'm going, Okay, this is my business. I'm 0:16:32.320 --> 0:16:35.800 making money off of it. I have good credit. Now, okay, 0:16:36.160 --> 0:16:39.280 what's the benefits and perks of it? Yeah, that's and 0:16:39.320 --> 0:16:41.320 then at that point, that's when I started leveraging it, 0:16:41.400 --> 0:16:45.240 like learned about rewards, how to get credit cards, how 0:16:45.280 --> 0:16:47.320 to like start credit card stacking and stuff like that. 0:16:48.240 --> 0:16:50.720 So all right, let's get into it. Let's get into 0:16:50.760 --> 0:16:53.840 the meat and potatoes of what everybody wants to know 0:16:53.920 --> 0:16:56.960 this information. So I got questions, I know Troy got 0:16:56.960 --> 0:16:59.440 some questions. But one thing, that one thing that we 0:16:59.840 --> 0:17:02.840 have I haven't spoken about Alisha yet, and a lot 0:17:02.880 --> 0:17:04.960 of people have always asked us to cover it, and 0:17:05.000 --> 0:17:08.680 they always ask questions about it. It's tradelines. So I'm 0:17:08.680 --> 0:17:10.680 gonna ask you a couple of questions about tradelines. But before, 0:17:11.600 --> 0:17:14.120 for people that might not even ever heard of a tradeline, 0:17:14.119 --> 0:17:17.200 they don't even know what that is. What is a tradeline? 0:17:17.640 --> 0:17:20.960 So a tradeline is essentially an count on your credit report. 0:17:21.240 --> 0:17:23.200 So a trade line is any account on your credit 0:17:23.240 --> 0:17:26.679 report that reports on your credit. So vehicle the vehicle, 0:17:26.760 --> 0:17:29.040 the history of that of the vehicle from when you 0:17:29.040 --> 0:17:32.240 open it to when you close it. That's a trade 0:17:32.240 --> 0:17:34.480 line on your credit report. So it's any account that 0:17:34.560 --> 0:17:36.360 reflects and shows on your credit report. 0:17:36.560 --> 0:17:39.199 Okay, so there's like a hack where you can actually 0:17:39.320 --> 0:17:42.080 add people to Tradeline. 0:17:41.600 --> 0:17:44.600 As to adding people to your card as an authorized user. 0:17:44.840 --> 0:17:46.680 So now what happens is this when it comes to 0:17:46.720 --> 0:17:49.159 authorized users, And yes, it's a lot of details to 0:17:49.240 --> 0:17:52.280 it that you have to understand, and like different applying 0:17:52.320 --> 0:17:54.600 when you're applying and you know, getting different things and 0:17:54.640 --> 0:17:55.520 the benefits of them. 0:17:55.800 --> 0:17:57.879 But essentially what it is is that if. 0:17:57.720 --> 0:18:01.760 I got a credit card and I got ten spaces available, 0:18:01.960 --> 0:18:04.199 I can add you on to my credit card as 0:18:04.200 --> 0:18:05.160 an authorized user. 0:18:05.480 --> 0:18:06.959 And this is an authorized user tradeline. 0:18:06.960 --> 0:18:08.919 If I add you on as an authorized user and 0:18:08.960 --> 0:18:12.159 I have ten spots available, I charge you six to 0:18:12.240 --> 0:18:16.240 fifty right, well, six fifty times ten. That's sixty five 0:18:16.320 --> 0:18:18.840 hundred dollars. I'm only going to leave you on my 0:18:18.920 --> 0:18:21.919 card for sixty days. I never give you access. I 0:18:21.960 --> 0:18:24.119 set my account up in a way that you can't 0:18:24.160 --> 0:18:27.160 compromise me. Now I make sixty five hundred dollars every 0:18:27.200 --> 0:18:30.080 sixty days off on credit card. End of the year, 0:18:30.760 --> 0:18:32.920 I make forty thousand dollars off having a credit card, 0:18:33.040 --> 0:18:36.879 never going into debt, never actually using and spending the 0:18:36.920 --> 0:18:37.600 bank's money. 0:18:38.080 --> 0:18:40.320 And that's to help other people build their credit. 0:18:40.840 --> 0:18:43.680 That's helping other people build and established because it comes 0:18:43.680 --> 0:18:45.600 to data points on a credit card. How many positive 0:18:45.600 --> 0:18:47.959 accounts do you have? What's your credit card utilization? All 0:18:48.000 --> 0:18:51.400 of these things going to consideration when applying and leveraging 0:18:51.440 --> 0:18:53.800 and using your credit. So when those things come into play, 0:18:54.119 --> 0:18:57.080 authorized users hit so many points because it gives you accounts, 0:18:57.080 --> 0:19:01.720 it gives you age history, it gives you utilization. So 0:19:01.720 --> 0:19:03.880 when your utilization everything is right on your credit card. 0:19:04.119 --> 0:19:06.200 All of these things reflect on your grown up person's 0:19:06.240 --> 0:19:08.960 credit report. Who purchases the authorized user. 0:19:09.000 --> 0:19:11.480 So if I'm the person that's the authorized user, do 0:19:11.640 --> 0:19:13.640 I get a card or I don't get a card? 0:19:13.680 --> 0:19:15.400 You don't get a card because like when I this 0:19:15.440 --> 0:19:18.480 is crazy, Like my credit history goes back to thirty 0:19:18.480 --> 0:19:22.200 five years, right, I'm thirty eight, but my mom put 0:19:22.200 --> 0:19:25.439 an American Express card in my name, so my credit 0:19:25.480 --> 0:19:27.439 so like technically I'm an authorized user. So that was 0:19:27.440 --> 0:19:29.160 a trade line that she made for me in a sense. 0:19:29.960 --> 0:19:32.920 So she gave you a card on her account. Yeah, 0:19:32.960 --> 0:19:34.600 so what happened is is that if she gave you 0:19:34.640 --> 0:19:38.080 a card on her account, that made you the authorized user, 0:19:38.119 --> 0:19:40.240 and then that's what started building your history. But see 0:19:40.240 --> 0:19:43.280 what American expressed, They don't report back history, they just 0:19:43.359 --> 0:19:45.959 report going forward. So the whole time that you've had 0:19:46.040 --> 0:19:48.040 that card and she opened that account up, it's been 0:19:48.119 --> 0:19:50.400 on your credit right building out. 0:19:50.960 --> 0:19:53.440 So let me ask you this, thanks mom, because. 0:19:53.280 --> 0:19:55.720 Yeah, shout out to your mom. Thanks mam. 0:19:56.920 --> 0:20:03.240 We have a large listenership in jails and the federal jails, 0:20:03.240 --> 0:20:07.320 state jails. It's a very interesting dynamic. I have a 0:20:07.320 --> 0:20:09.960 lot of friends, family members, and they always report back 0:20:09.960 --> 0:20:11.680 to me and say that EYL is big in jail. 0:20:11.800 --> 0:20:14.480 So first of all, shout out to all the guys 0:20:14.480 --> 0:20:18.240 in jail, hold your head and all the returning citizens. 0:20:18.960 --> 0:20:22.359 So you was giving us some game about information for 0:20:22.440 --> 0:20:24.840 that right, as far as like the core logics for 0:20:24.920 --> 0:20:26.080 felons and things of that nature. 0:20:26.720 --> 0:20:29.880 Yeah, yeah, So now that's a whole nother bar for everybody. 0:20:29.960 --> 0:20:35.640 Like listen, I come out of the community. So I've 0:20:35.640 --> 0:20:38.920