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Speaker 3: If I'm a buy a home, I want a home.

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Speaker 3: I don't want to live. Oh, you have to deal

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Speaker 3: with neighbors.

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Speaker 4: But you're gonna have to deal with a mortgage. Yeah,

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Speaker 4: you either deal with neighbors, you deal with a mortgage.

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Speaker 4: And FACHA is only one year living requirement.

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Speaker 5: Right.

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Speaker 4: So a lot of people the single family dream has

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Speaker 4: been pushed to folks, but the American dream it just

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Speaker 4: rocked people to sleep. It's actually the American nightmare. Everything

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Speaker 4: they tell you to do in the American dream is

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Speaker 4: to rock you to sleep. Everything they tell you do

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Speaker 4: to go to college, who gets paid off that student

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Speaker 4: own interest? The government? They say, go get a high

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Speaker 4: paying job. Who gets paid take their money off the

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Speaker 4: top the government. Then they say, go get a single

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Speaker 4: having home. Who do you have to pay property taxes

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Speaker 4: to the government. Everything they told you to do in

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Speaker 4: the American dreamer so that they could get paid.

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Speaker 6: My graduates from my school being false.

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Speaker 4: Back drop drop, Mike, drop, back drop drop.

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Speaker 7: All right, guys, welcome back, e y L.

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Speaker 3: This is uh, you know, we've been on the road

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Speaker 3: for a very long period of time, so this is

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Speaker 3: the first time in a while that we actually shoot

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Speaker 3: an episode. Yeah for sure. So this is one of

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Speaker 3: these episodes that right up our alley as far as

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Speaker 3: like how we've started with information, Like we pick a

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Speaker 3: topic and then we just get an expert in the

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Speaker 3: in the field and give a lot of gyms and information.

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Speaker 3: That's kind of been our blueprint since the beginning. And

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Speaker 3: we haven't done a real estate episode in a long time.

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Speaker 5: Yeah, we've been relegated to our boy MG.

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Speaker 3: Yeah, shot rightfully, So no shout out to Matt he's

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Speaker 3: killing the game. Make sure you check out Ransom Gyms

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Speaker 3: podcast on Eyo Network, top real estate podcast in the game.

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Speaker 7: Yeah for sure.

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Speaker 3: But you know we talked about stocks of all the time,

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Speaker 3: obviously market mondays, but once again, you know, we haven't

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Speaker 3: spoken about real estate in a while. In real estate

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Speaker 3: is the cornerstone, one of the cornerstones for building wealth

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Speaker 3: in his country and all over the world. So I

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Speaker 3: say that to say, I thought it would be a

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Speaker 3: perfect time to get back on the real estate side

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Speaker 3: of things.

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Speaker 7: So yes, we do.

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Speaker 3: So Julian Gordon, I'm sure you're already familiar with him

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Speaker 3: because he's been killing the game for a while online

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Speaker 3: social media. He's actually been at investest. He's investment.

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Speaker 5: He wasn't just investment. He had a moment right now

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Speaker 5: that was that was a moment.

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Speaker 3: So if he was at investments, you saw that. And

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Speaker 3: then he's been on with the family, Ransom Gyms and

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Speaker 3: ash Cash. So Julian is interesting because you know a

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Speaker 3: lot of people talk about real estate, but everybody has

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Speaker 3: different niches. So his thing is multi family homes.

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Speaker 5: Yeah, missed the multi family himself.

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Speaker 3: Yes, yes, yes, So he actually is the head of

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Speaker 3: the multifamily movement. So he has a program and I

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Speaker 3: believe his students here own with four thousand students and

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Speaker 3: they have a total of two hundred and sixty two

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Speaker 3: closings right of multi family homes one hundred and forty

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Speaker 3: closings this year. Matt always says, because I know Matt

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Speaker 3: does a lot of financing, he was like, Yo, these

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Speaker 3: people in this group is crazy, Like they hit me.

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Speaker 3: They hit me every day non stop. But that's a

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Speaker 3: good thing because I mean, if they're out hunting for deals,

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Speaker 3: they're hungry. So what he does is he teaches people

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Speaker 3: about not just how to buy real estate, but specifically

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Speaker 3: multifamily homes and multi family homes is something that is

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Speaker 3: extremely important, especially like where we live in the Northeast,

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Speaker 3: but really different pockets all over the country. And MG

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Speaker 3: has spoke about multifamily homes before. Actually when he first

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Speaker 3: came on the podcast, that was his whole strategy as

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Speaker 3: far as you know, get a multi family and have

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Speaker 3: positive cash flow and things of that nature. So we're

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Speaker 3: going to have a really interesting, dope conversation about real

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Speaker 3: estate multi family homes, and I'm sure there'll be a

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Speaker 3: lot of gyms dropped so first and foremost, thank you

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Speaker 3: for joining us, brother, appreciate it.

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Speaker 4: Here, thank you.

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Speaker 8: We missed the amount of funds that have been generated

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Speaker 8: from the students. Sixty two million.

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Speaker 4: Yeah, it's about sixty two million if you If I

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Speaker 4: average each property is about three hundred thousand. Yeah, we

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Speaker 4: up there, So I actually seventy five since that number,

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Speaker 4: I need to update that number. We were at seventy

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Speaker 4: five million and real estate acquired in two years.

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Speaker 7: Don't let that go over here. Yeah, so all right,

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Speaker 7: let's get into this.

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Speaker 3: I want to get into details, Nnie Griddy, but before

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Speaker 3: I start, I just want to give an overview of

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Speaker 3: how did you get to this point? Because I actually

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Speaker 3: just found out something that he was in one of

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Speaker 3: the most prestigious business do You graduated from one of

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Speaker 3: the most prestigious Brison schools of all, Stanford University. So

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Speaker 3: I would assume that originally you was on like a

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Speaker 3: business path, maybe even tech path, because a lot of

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Speaker 3: people go to Stanford that So what made you get

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Speaker 3: into real estate?

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Speaker 7: Yeah?

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Speaker 4: So I went into business school because I knew I

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Speaker 4: wanted to be an entrepreneur. But when you look at

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Speaker 4: business school and what actually comes out of it, you

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Speaker 4: see a lot of people actually escaping the corporate plantation

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Speaker 4: going to business school and then and then to back

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Speaker 4: up on the corporate plantation at a higher pay, And

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Speaker 4: so it wasn't actually training entrepreneur. Stanford happened to be

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Speaker 4: the most entrepreneurial business school out there. So that's why

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Speaker 4: I chose Stanford. But everything that I've learned about business

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Speaker 4: that has allowed me to create the wealth that I

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Speaker 4: have today didn't come from Stanford. It didn't come from

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Speaker 4: the marketing class there, It didn't come from the finance

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Speaker 4: class there. It came through actually reinvesting back into my

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Speaker 4: own education, in my own mind, through coaches, consultants, and

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Speaker 4: things of that nature. After But my real estate journey

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Speaker 4: actually starts with my mom. She was a doctor, anesthesiologist,

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Speaker 4: and she had a good paying job. She was following

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Speaker 4: the American dream and she ended up with a mental

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Speaker 4: health issue, not anything to her fault whatsoever, and that

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Speaker 4: mental health issue caused her to lose her license. And

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Speaker 4: once the one single income stream evaporated, then she couldn't

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Speaker 4: pay the mortgage on the home that we had in Oakland.

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Speaker 4: That home today is worth one point eight million dollars

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Speaker 4: and so when I saw somebody who did everything that

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Speaker 4: they were supposed to do actually lose it all because

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Speaker 4: they were lying on one stream of income, even though

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Speaker 4: it was a high stream of income, that made me

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Speaker 4: choose a different path. And so in college I read

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Speaker 4: Richards That Poor Dad, like many people did, and I

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Speaker 4: knew immediately, not only from my own mom's story, but

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Speaker 4: from that book that my first property was not going

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Speaker 4: to be a single family home, that it would be

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Speaker 4: a multi family home. And so I purchased my first

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Speaker 4: multi family home in Brooklyn. It was a triplex twenty thirteen.

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Speaker 4: And the moment I went from paying expensive rent in

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Speaker 4: Brooklyn to being paid expensive rent, the game was over.

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Speaker 4: And so you know, as I started trying to go

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Speaker 4: deeper into the game, buying another property in Brooklyn was

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Speaker 4: challenging because I used FAHA for that first property, but

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Speaker 4: the next one will require twenty five percent down, and

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Speaker 4: when you have properties that are a million dollars, twenty

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Speaker 4: five percent down is going to be a quarter million.

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Speaker 4: So I decided to scale my portfolio by investing outside

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Speaker 4: of Brooklyn, and that's how I found the New Orleans market,

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Speaker 4: and from there I just doubled down and continue to

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Speaker 4: scale my portfolio eventually moving down to New Orleans and

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Speaker 4: things of that nature.

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Speaker 8: So I was wondering because like a lot of people

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Speaker 8: will start in real estate, they don't have the fund

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Speaker 8: and so, faha was.

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Speaker 5: The route you did for your first triples?

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Speaker 4: Correct? So three and a half percent down at that

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Speaker 4: time the property was like seven hundred thousand, So it

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Speaker 4: wasn't major money. I did have to save. I did

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Speaker 4: have to discipline myself in order to save that, but

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Speaker 4: I made that payment and then from there I haven't

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Speaker 4: had a housing expense since May of twenty thirteen.

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Speaker 7: How many houses your home now?

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Speaker 4: I have forty U sixteen buildings, forty units, but that's

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Speaker 4: just my personal portfolio. So forty doors, right, yeah, forty doors, Yeah.

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Speaker 7: I to put a post.

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Speaker 3: I think like one hundred doors, one hundred, a thousand

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Speaker 3: shares a new club, Yeah, a thousand shares, one hundred doors,

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Speaker 3: that's something that so you're own halfway there, yeah, halfway.

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Speaker 4: There, and then you add in my portion of the

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Speaker 4: other funds, I'm probably around eighty when you add in

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Speaker 4: those as well. We just closed on a thirty six

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Speaker 4: unit in Scotlandville and Baton Rouge, so yeah, so continuing

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Speaker 4: to scale up.

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Speaker 3: Congratulations, appreciate that, all right, So let's get into some questions.

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Speaker 3: So the biggest thing for that stops people from buying

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Speaker 3: real estate is money. Yeah, you know, well we'll talk

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Speaker 3: about mindset also, but money is definitely a big thing

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Speaker 3: and financing. But there are different programs, especially you know,

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Speaker 3: we're talking about multi family homes, so yeah, I won't

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Speaker 3: talk about a few one that we have not coverage yet,

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Speaker 3: which is NAKA.

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Speaker 4: Yeah, can you talk about NACA a little bit, man,

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Speaker 4: NACA is amazing. NACA is amazing, but it's two sides

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Speaker 4: of the coin. You'll hear people say NACA is amazing

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Speaker 4: those who have closed, and then you'll hear other people

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Speaker 4: say NACA is not amazing. Right, So NAKA is really

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Speaker 4: really powerful because zero percent down, no closing costs, no

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Speaker 4: points for fees, et cetera, and extremely low interest rates.

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Speaker 4: And the key to winning at NACA is making sure

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Speaker 4: that your counselor is solid. If your counselor's not solid,

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Speaker 4: then it's going to be a difficult journey for you.

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Speaker 4: And then it's also your persistence. You have to stay

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Speaker 4: on that person. You actually have to lead your counselor

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Speaker 4: to get to the finish line. So if you're just

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Speaker 4: going to sit back and think that some program is

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Speaker 4: literally going to give you a home for nothing and

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Speaker 4: you don't actually put in any effort, it's going to

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Speaker 4: be a hard road for you. So I've had many

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Speaker 4: people closed through my program. See, NACA does the financing,

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Speaker 4: but they don't teach you how to find the deal

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Speaker 4: or how to finalize the deal. Financing is actually the

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Speaker 4: easiest part of the real estate game when you know

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Speaker 4: about programs like NAC or faha. So NAKA actually is

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Speaker 4: not a program for poor people. So that's actually what

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Speaker 4: keeps half the people out is because they have a

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Speaker 4: perception that is for people who have low income, and

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Speaker 4: it's not. What's powerful about it and why people with

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Speaker 4: low income are able to go through the programs because

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Speaker 4: there's no credit score consideration, and that's huge for a lot,

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Speaker 4: no closing clues, no points or fees payment, and no credit.

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Speaker 4: So here's how they verify you. So basically, they take

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Speaker 4: whatever you've been paying in rent plus whatever you're able

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Speaker 4: to prove that you can save over a three month period.

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Speaker 4: So if you're paying twelve hundred dollars a month in

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Speaker 4: rent on time consistently, right, and you're able to show

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Speaker 4: them that you're able to save an additional three hundred

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Speaker 4: dollars a month on top of that, then they'll prove

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Speaker 4: you for a mortgage of fifteen hundred dollars, gotcha. So

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Speaker 4: that's how they verify your ability to afford the real estate.

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Speaker 4: And so NAKA has two tiers of people, they have

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Speaker 4: priority and non priority. So priority is anyone who is

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Speaker 4: making eighty percent or less of the area's AMI. So

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Speaker 4: AMI is the area's median income. So those people are

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Speaker 4: able to get interest rates as low as two percent.

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Speaker 4: Two percent, that's basically free money when you account for

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Speaker 4: inflation being six percent, right, So, and then a non

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Speaker 4: priority members who have higher incomes start at three percent.

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Speaker 4: But then what NAC actually tells you to do is

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Speaker 4: that since you're no longer paying a down payment, why

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Speaker 4: don't you buy down these points? Right? And so a

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Speaker 4: point is a percentage of your mortgage. So if you

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Speaker 4: have a mortgage of three hundred thousand dollars, you could

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Speaker 4: pay three thousand dollars one percent of that and actually

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Speaker 4: buy down your interest rate. And they have tiers where

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Speaker 4: their interest rates when you pay three thousand dollars in advance,

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Speaker 4: the bank is taking that three thousand dollars in advance,

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Speaker 4: then your interest rate is going down by probably like

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Speaker 4: zero point one two five, Right, So you're a quarter,

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Speaker 4: not an eighth of a point every time you contribute

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Speaker 4: three thousands. So rather than putting that towards the down payment,

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Speaker 4: because there is none, you're actually buying down points. So

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Speaker 4: you'll see people in NACA have interest rates that are

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Speaker 4: less than one percent. And so when you look at

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Speaker 4: that over a thirty year period, a decrease in interest

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Speaker 4: rate by one percent on a three hundred thousand dollars mortgage,

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Speaker 4: that's going to save you sixty thousand dollars over the

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Speaker 4: life of that loan.

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Speaker 8: Is there a limit that you can put into like

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Speaker 8: to the point where you're putting three thousand in two thousands,

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Speaker 8: to a point where.

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Speaker 5: There's at point.

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Speaker 4: I think it's point twenty five. A quarter of a

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Speaker 4: percent is the lowest you can go with NAKA as

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Speaker 4: a priority.

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Speaker 8: So who qualifies for this? Is anybody eligible to qualify

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Speaker 8: for KNAKA loans?

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Speaker 4: Anybody? Well, anybody no income rescription.

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Speaker 3: It's a government program, right, No, it's actually a nonprofit nonprofits,

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Speaker 3: a nonprofit that organize against the banks initially when all

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Speaker 3: the predatory lending happened, and somehow they organize against the

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Speaker 3: banks and then got the banks to offer this amazing

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Speaker 3: financing for people to kind of rectify the guilt that

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Speaker 3: they had accumulated through all the predatory lending that they

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Speaker 3: had done. But I know, so some of the downside

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Speaker 3: is like people saying like it takes a long time

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Speaker 3: and it's like tedious process.

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Speaker 4: Right, Yeah, So the best way to approach NACA is

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Speaker 4: actually to do your savings and actually have all your

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Speaker 4: documentation in advance. So if I've been able to prove

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Speaker 4: that I've been saving this particular amount in advance of

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Speaker 4: actually applying for the program in my appointment, then I

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Speaker 4: hit the ground running. But if I start without any

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Speaker 4: financial discipline in advance and then have to go through

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Speaker 4: the process of demonstrating that I can save this amount

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Speaker 4: of money for this particular mortgage, that's going to take

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Speaker 4: me an additional amount of time in order to qualify

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Speaker 4: and get pre approved by them. So it's just coming

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Speaker 4: to the table with your financial house in order first,

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Speaker 4: and that accelerates the process for folks.

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Speaker 8: How many times, can you actually use a knack a loon, Like,

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Speaker 8: if I do it and I pay for home and

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Speaker 8: let's say ten years, am I else will to do

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Speaker 8: it again? Or can I have them running science simultaneously?

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Speaker 4: How it wor no naka. Naka expects you to live

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Speaker 4: in the home for the life of the loan, but

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Speaker 4: it is a minimum of five year living requirement. So

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Speaker 4: FAHA is only a one year living requirement and NACA

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Speaker 4: is a five year but they actually desire you to

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Speaker 4: live in that home for the life of the loan.

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Speaker 4: So NACA is not a play where you can run

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Speaker 4: several times faha. There are some hidden way, some secret

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Speaker 4: way to use faha twice he had to use faha twise.

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Speaker 4: But naka are likely not. And so if you want

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Speaker 4: to scale your portfolio beyond NAKA after you use NAKA,

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Speaker 4: you're actually going to have to refinance once you're out

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Speaker 4: of this amazing interest rate right to go conventional to

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Speaker 4: free you up to be able to go use one

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Speaker 4: of the other loan programs, or go conventional and scale

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Speaker 4: your portfolio up.

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Speaker 8: So you can refinance after five years.

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Speaker 4: Yeah, after five years, they actually hold a second lean

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Speaker 4: position on you for that five years to make sure

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Speaker 4: that you stand in property and you're not house hacking

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Speaker 4: through them. So yeah, it's five years, but you're in

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Speaker 4: order for refinance, you're going to need your home to

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Speaker 4: have be at eighty percent loan to value. Now you

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Speaker 4: put zero percent down, So you either have to force

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Speaker 4: that appreciation or you have to have bought so right

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Speaker 4: that it is appreciated to that extent over that period

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Speaker 4: of time, over that five year period.

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Speaker 3: Yeah, and THATCA is a great place in Aca if

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Speaker 3: anybody that's that's how it's spelled. And I think they

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Speaker 3: have like seminars and stuff like that or like yeah

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Speaker 3: all the time. Yes, So you can actually like just

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Speaker 3: Google in your area and like you said that you

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Speaker 3: have a council like if you get a signed to

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Speaker 3: somebody who's working with you. Yeah, and they kind of

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Speaker 3: help you through the process and getting your documentation and

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Speaker 3: everything in order. And you know, it's definitely beneficial for

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Speaker 3: I've known some people that definitely have been able to

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Speaker 3: purchase home through the NACO definitely.

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Speaker 4: So Gloria, she purchased a triplex in Brooklyn, I know,

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Speaker 4: in Philadelphia recently, and all she had to come out

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Speaker 4: of pocket to acquire a triplex from Philadelphia? Was title fees?

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Speaker 4: Title fees are a pair of Jordans. She got a

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Speaker 4: triplex in Philadelphia for a pair of Jordans or a

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Speaker 4: round trip flight from New York to Los Angeles, Like

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Speaker 4: anybody can do that, but you have to know that

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Speaker 4: it's there, and you have to be persistent and you

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Speaker 4: have to be financially disciplined to be able to get

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Speaker 4: qualified through them ERNs.

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Speaker 8: What's going on this Black History Month? McDonald's kicking off

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Speaker 8: Future twenty two, a campaign celebrating twenty two Gen Z

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Speaker 8: leaders across the country who are making an impact on

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Speaker 8: their communities right now. This generation may have the largest

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Speaker 8: influx of young leaders since the Civil Rights Movement. They're

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Speaker 8: starting their own organizations, finding ways to empower youth and culture,

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Speaker 8: standing up and speaking out. McDonald's is showcasing their efforts

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Speaker 8: and the impact they're having on the world. Ever heard

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Speaker 8: of Anaya Dillard. She's an eighteen year old activist who

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Speaker 8: started the Next Gen Come Up, a nonprofit that encourages

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Speaker 8: activism and community service. McDonald's is sharing stories of the

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Speaker 8: Future twenty two leaders like Anaya and more on their

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Speaker 8: Instagram at We Are golden.

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Speaker 3: Let's talk about another financing program we spoke about before,

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Speaker 3: but once again, it was a while ago since the

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Speaker 3: last time we spoke about it, FHA loan. Yeah, so

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Speaker 3: I think the FAH loan has beneficial because correct me

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Speaker 3: if I'm wrong, You're able to put like three point

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Speaker 3: five percent down. Correct, So talk about FAHA if anybody

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Speaker 3: that's not familiar with fa.

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Speaker 4: Yeah, So, FHA is a government program and and three

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Speaker 4: point five percent down on a three hundred thousand dollars duplex, right,

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Speaker 4: is only ten thousand, five hundred dollars. So where else

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Speaker 4: can what other business can you buy for ten five

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Speaker 4: hundred dollars that is valued at three hundred thousand dollars

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Speaker 4: get financed for it within like forty five days, right,

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Speaker 4: with minimal experience? What other business and they have it

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Speaker 4: immediately cash flowing. There's no other business that you can

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Speaker 4: buy for three hundred thousand dollars like that that quickly.

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Speaker 4: And so this is why FAHA is so powerful. So

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Speaker 4: FAHA typically requires about a six to eighty credit score

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Speaker 4: to get qualified. It actually can go down. But if

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Speaker 4: your credit score is below six eighty, then your interest

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Speaker 4: rate or your down payment are going to increase on FAHA.

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Speaker 4: There are FAHA guidelines. These are federal guidelines, but lenders

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Speaker 4: can stack on their own lending guidelines on top of it.

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Speaker 4: So just because FAHA says that the credit score minimum

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Speaker 4: is six eighty or other lenders may say, no, we

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Speaker 4: actually need a seven twenty in order to qualify you

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Speaker 4: for that, so they can stack on their own guidelines

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Speaker 4: to FAHA. But FAHA is really powerful. That's how I

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Speaker 4: acquired my triplex in Brooklyn with the FAHA loan. And

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Speaker 4: the downside of FAHA that people don't tell you is

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Speaker 4: the PMI. It's a private mortgage insurance. Not going to

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00:18:00,040 --> 00:18:03,000
Speaker 4: and have private mortgage insurance, and so private mortgage insurance

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Speaker 4: means that their banks are literally the government is actually

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Speaker 4: protecting the banks, like they've already bailed up the banks.

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Speaker 4: I don't know why the banks need protection, but they're

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Speaker 4: protecting the banks. And so there's this additional private mortgage insurance.

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Speaker 4: So it could be an additional one percent fee. So again,

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Speaker 4: if your loan is three hundred thousand dollars, one percent

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Speaker 4: is three thousand dollars per year. You divide that by

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Speaker 4: twelve months, and now you're paying an additional additional two

393
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Speaker 4: hundred and fifty dollars per month on your mortgage payment

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Speaker 4: for this private mortgage insurance. And now that PMI is

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Speaker 4: actually permanent. It's permanent until you refinance out.

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Speaker 7: Oh, it doesn't go away after twenty percent.

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Speaker 4: Used to go away after twenty percent. It is now

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Speaker 4: permanent until you refinance out.

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Speaker 8: So you said if the credit score wasn't great, that

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Speaker 8: the interest rate can go up on three point five.

401
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Speaker 4: Right, No, the down payment is down five. The interest

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Speaker 4: rate is going to depend on a variety of things, now.

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Speaker 8: Depending on if you get a single family or multi family.

404
00:18:57,760 --> 00:19:00,280
Speaker 8: With those factors as well, that can change the strate

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Speaker 8: of the property.

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Speaker 5: Of the loan.

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Speaker 4: No, so the interest rate is based on So for

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Speaker 4: when I talk multifamily, I'm talking about two family, three family,

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Speaker 4: or four family homes. These are also known as duplexus, triplexes,

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Speaker 4: or four plexes. So once you get to five units

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Speaker 4: or more, that's a commercial loan and that's a different

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Speaker 4: lending process, right, that's a different lender, different terms, twenty

413
00:19:21,560 --> 00:19:26,200
Speaker 4: year amortization, you're having an arm your interest rate is

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Speaker 4: going to be higher, et cetera. So the interest rate

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Speaker 4: is not dependent on whether it's a duplex, triplex, or

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Speaker 4: four plex. The interest rate is based on your financial profile.

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Speaker 7: Got it?

418
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Speaker 3: So that PMI is that just for the FHA or

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Speaker 3: is that because I know pre like, if you just

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Speaker 3: put less than twenty percent on any type of mortgage,

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Speaker 3: you have P and I.

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Speaker 7: But until you get to twenty.

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Speaker 3: Percent conventional is pm I two? That's the same thing, correct,

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Speaker 3: all right? So just for the FAHA, it stays on

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Speaker 3: for the.

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Speaker 4: Life, stays on until you refinance out. So if I

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Speaker 4: see that I went FHA, I have PMI. That's two

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Speaker 4: hundred and fifty dollars additional per month. But my home

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Speaker 4: is appreciated. I bought right in a gentrifying neighborhood, and

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Speaker 4: I believe that I'm an eighty percent loan of value.

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Speaker 4: I'm going to go run the numbers, get an appraisal,

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Speaker 4: and actually refinance out of that PMI. And that's two

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Speaker 4: hundred and fifty dollars back in my pocket. That's a

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Speaker 4: car note, as a cell phone bill, that's groceries for folks.

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Speaker 4: So yeah, but that's the key to buy and right.

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00:20:20,760 --> 00:20:22,679
Speaker 4: If you don't buy right, then you have to literally

437
00:20:22,680 --> 00:20:24,480
Speaker 4: just sit and wait and continue to cough up this

438
00:20:24,560 --> 00:20:26,480
Speaker 4: extra two hundred and fifty dollars a month that is

439
00:20:26,560 --> 00:20:28,120
Speaker 4: just literally there to protect the banks.

440
00:20:28,359 --> 00:20:31,920
Speaker 8: So PMI exists on a conventional If it's not twenty percent,

441
00:20:31,920 --> 00:20:35,160
Speaker 8: there's correct. What if I'm doing it's not My primary

442
00:20:35,160 --> 00:20:38,320
Speaker 8: residence is in our investment property. Just PMI exists on that,

443
00:20:38,359 --> 00:20:39,720
Speaker 8: and I think it's like twenty five percent.

444
00:20:39,720 --> 00:20:42,240
Speaker 4: There's twenty five percent down on a purely investment property.

445
00:20:42,280 --> 00:20:46,400
Speaker 4: So yeah, you have to do correct. So there's no PMI, gotcha? Yeah,

446
00:20:46,560 --> 00:20:46,879
Speaker 4: two O.

447
00:20:46,960 --> 00:20:50,800
Speaker 7: Three K loan? That care you talking about that? Yeah?

448
00:20:50,840 --> 00:20:53,439
Speaker 4: So two or three K loan fha same thing. But

449
00:20:53,520 --> 00:20:57,439
Speaker 4: here's how it works. So they're going to give me

450
00:20:57,960 --> 00:20:59,680
Speaker 4: my three point five percent down payment's going to be

451
00:20:59,720 --> 00:21:03,560
Speaker 4: on the acquisition price plus the actual rehab. So if

452
00:21:03,560 --> 00:21:05,760
Speaker 4: my acquisition price is two hundred and the rehab is

453
00:21:05,760 --> 00:21:08,560
Speaker 4: one hundred, then my down payment is still going to

454
00:21:08,560 --> 00:21:10,639
Speaker 4: be ten thousand, five hundred. What's powerful about the two

455
00:21:10,680 --> 00:21:12,440
Speaker 4: O three K loan is that you're going to get

456
00:21:12,480 --> 00:21:15,840
Speaker 4: a two or three K consultant who guide you through

457
00:21:15,840 --> 00:21:18,920
Speaker 4: some of the rehab process, and you're likely going to

458
00:21:18,960 --> 00:21:21,080
Speaker 4: step in and built in equity because you took something

459
00:21:21,119 --> 00:21:23,679
Speaker 4: that was run down, you put in one hundred thousand

460
00:21:23,760 --> 00:21:25,919
Speaker 4: to it, it's now like a brand new home. So

461
00:21:25,960 --> 00:21:29,040
Speaker 4: even though you have three hundred thousand in, you build equity.

462
00:21:29,119 --> 00:21:31,600
Speaker 4: So now you're stepping into equity right out the gates.

463
00:21:31,640 --> 00:21:33,840
Speaker 4: And that's one of the keys to buying right. So

464
00:21:34,080 --> 00:21:35,399
Speaker 4: we don't just want people to go out there and

465
00:21:35,400 --> 00:21:36,919
Speaker 4: buy real estate, just like we don't want people to

466
00:21:36,920 --> 00:21:38,359
Speaker 4: just go out there and buy stocks just because we

467
00:21:38,359 --> 00:21:40,639
Speaker 4: said so. We want you to buy right. And so

468
00:21:40,760 --> 00:21:44,119
Speaker 4: buying right is three criteria. First criteria is that you're

469
00:21:44,119 --> 00:21:47,320
Speaker 4: stepping into built in equity, meaning that your a praise

470
00:21:47,440 --> 00:21:50,239
Speaker 4: price is actually higher than your purchase price. So you're

471
00:21:50,280 --> 00:21:52,120
Speaker 4: stepping in equity right out the gates. You won out

472
00:21:52,119 --> 00:21:56,240
Speaker 4: the gates because you have equity. The second criteria is

473
00:21:56,240 --> 00:21:58,720
Speaker 4: that in multifamily at at least a twelve percent castional

474
00:21:58,800 --> 00:22:01,520
Speaker 4: cash return in the rule of seventy two. Seventy two

475
00:22:01,560 --> 00:22:04,440
Speaker 4: divided by twelve means that your money's doubling every six years.

476
00:22:04,480 --> 00:22:06,119
Speaker 4: The money that you have in the property is doubling

477
00:22:06,160 --> 00:22:08,960
Speaker 4: every six years. And then the third criteria for buying

478
00:22:09,040 --> 00:22:12,440
Speaker 4: right is that there's definite appreciation potential and definite appreciation

479
00:22:12,520 --> 00:22:16,280
Speaker 4: potential means that I've identified thirty three signs of gentrification,

480
00:22:16,720 --> 00:22:19,879
Speaker 4: and definite appreciation potential means that you bought on the

481
00:22:19,960 --> 00:22:22,120
Speaker 4: right side of the wave. And so when I bought

482
00:22:22,160 --> 00:22:25,040
Speaker 4: on Fulton and Utica in Brooklyn, there was about ten

483
00:22:25,040 --> 00:22:27,760
Speaker 4: to fifteen signs of gentrification there, right, and that was

484
00:22:27,800 --> 00:22:30,120
Speaker 4: called do or die pad stot at the time when

485
00:22:30,160 --> 00:22:32,600
Speaker 4: I purchased it no longer right because I saw it

486
00:22:32,600 --> 00:22:35,680
Speaker 4: coming from Dumbo, correct, it was coming from I saw

487
00:22:35,680 --> 00:22:39,280
Speaker 4: the wave coming from Dumbo right to Fort Green stuyves

488
00:22:39,359 --> 00:22:42,200
Speaker 4: and the heights to Best Stie. So I saw the wave.

489
00:22:42,280 --> 00:22:45,080
Speaker 4: So I bought right here. I bought right here when

490
00:22:45,080 --> 00:22:46,800
Speaker 4: the wave was here, and I've been able to ride

491
00:22:46,800 --> 00:22:48,720
Speaker 4: that wave all the way through East New York. So

492
00:22:49,040 --> 00:22:52,359
Speaker 4: that's definite appreciation potential because now that neighborhood has thirty

493
00:22:52,600 --> 00:22:54,880
Speaker 4: of the thirty three signs of gentrification. So every time

494
00:22:54,920 --> 00:22:57,400
Speaker 4: a new sign is added, the equity is going up.

495
00:22:57,520 --> 00:22:59,479
Speaker 5: All right, we gotta go there, We have to go there.

496
00:22:59,520 --> 00:23:01,240
Speaker 5: So three signs of gentrifications.

497
00:23:01,359 --> 00:23:03,399
Speaker 8: Sorry, we like to see it, like I used to say, like, yo,

498
00:23:03,520 --> 00:23:05,520
Speaker 8: you see a Starbucks, you see you see these fortune

499
00:23:05,520 --> 00:23:08,320
Speaker 8: five hundred companies Uh, you see new construction, you see

500
00:23:08,359 --> 00:23:10,400
Speaker 8: new building. What are some of the signs that you're

501
00:23:10,440 --> 00:23:13,439
Speaker 8: looking for in that list of signs of gentrification?

502
00:23:13,640 --> 00:23:16,879
Speaker 4: Our favorite one is, uh is a white girl running

503
00:23:16,960 --> 00:23:18,800
Speaker 4: at nine pm through to what used to be known

504
00:23:18,840 --> 00:23:21,520
Speaker 4: as a hood with her ear pods on and the

505
00:23:21,600 --> 00:23:25,280
Speaker 4: Lululemon You you're good to go. You're good to go. Okay,

506
00:23:26,880 --> 00:23:33,240
Speaker 4: gotta bel Oh no park, she's still a little too hood.

507
00:23:34,160 --> 00:23:36,960
Speaker 4: Gotta be Lululemon. And that's just a telltale sign. Of course.

508
00:23:36,960 --> 00:23:40,560
Speaker 4: You're going to start to see dumpsters, coffee shops, cafes,

509
00:23:40,640 --> 00:23:44,399
Speaker 4: yocal studios, a dog grooming. You're gonna see bike lanes,

510
00:23:44,440 --> 00:23:46,000
Speaker 4: things of that nature. These are some of them.

511
00:23:46,160 --> 00:23:47,160
Speaker 7: Their white lanes is heavy.

512
00:23:47,240 --> 00:23:50,240
Speaker 4: Yeah, they're gonna start to call graffiti art right all

513
00:23:50,280 --> 00:23:52,760
Speaker 4: of a sudden. You see neighborhood name changes and things

514
00:23:52,760 --> 00:23:54,720
Speaker 4: of that nature. So these are some of the key

515
00:23:54,880 --> 00:23:57,760
Speaker 4: signs of gentrification, and you have to train your eyes

516
00:23:57,800 --> 00:24:00,000
Speaker 4: to be able to observe them and watch them happening.

517
00:24:00,080 --> 00:24:02,800
Speaker 4: Because they're happening. You just have to train your eyes.

518
00:24:03,160 --> 00:24:05,760
Speaker 7: The bike lanes is heavy, yeah, all through hall them.

519
00:24:07,160 --> 00:24:07,320
Speaker 5: Yeah.

520
00:24:07,400 --> 00:24:08,760
Speaker 7: Once you saw those city bike.

521
00:24:08,760 --> 00:24:12,639
Speaker 3: Things, yeah, you know yeah, but even like the beltline

522
00:24:12,640 --> 00:24:14,400
Speaker 3: in Atlanta, similar type of situation.

523
00:24:14,560 --> 00:24:16,359
Speaker 4: Yeah, it's and it's the same patterns playing out. So

524
00:24:16,440 --> 00:24:18,920
Speaker 4: I saw the same pattern in Oakland, right, I saw

525
00:24:18,960 --> 00:24:21,200
Speaker 4: it in West Oakland and East Oakland. Then I saw

526
00:24:21,240 --> 00:24:23,640
Speaker 4: the same pattern in Inglewood. When I was down in LA,

527
00:24:23,800 --> 00:24:26,200
Speaker 4: then I saw the same pattern here, saw the same pattern.

528
00:24:26,400 --> 00:24:28,280
Speaker 4: It's the same pattern playing out. So it's just pattern

529
00:24:28,320 --> 00:24:29,920
Speaker 4: recognition at the end of the day. And so if

530
00:24:29,920 --> 00:24:31,600
Speaker 4: you're able to see the patterns and you're able to

531
00:24:31,600 --> 00:24:33,919
Speaker 4: get ahead of them and benefit from it.

532
00:24:34,440 --> 00:24:37,359
Speaker 3: So here's a big one that everybody asks because a

533
00:24:37,440 --> 00:24:41,000
Speaker 3: lot of our New Yorker's our biggest market, followed by Atlanta,

534
00:24:41,400 --> 00:24:47,399
Speaker 3: Los Angeles, so Oakland, California. So we have listeners all

535
00:24:47,400 --> 00:24:49,359
Speaker 3: over the world, but a lot of people are in

536
00:24:49,440 --> 00:24:53,760
Speaker 3: these major markets, and the common denominated is that real

537
00:24:53,840 --> 00:24:56,120
Speaker 3: estate is expensive, extremely high.

538
00:24:56,200 --> 00:24:57,480
Speaker 7: So a lot of people get discouraged.

539
00:24:57,520 --> 00:25:00,119
Speaker 3: They're like, this might work for you know, if you

540
00:25:00,160 --> 00:25:03,520
Speaker 3: in the middle of America, but in Brooklyn, in hallm

541
00:25:03,600 --> 00:25:07,440
Speaker 3: like in you know, La, it's not working.

542
00:25:07,480 --> 00:25:07,760
Speaker 7: I can't.

543
00:25:07,760 --> 00:25:10,200
Speaker 3: I don't have enough money to buy real estate. So

544
00:25:10,359 --> 00:25:12,280
Speaker 3: this is this is something I think is going to

545
00:25:12,320 --> 00:25:15,639
Speaker 3: be extremely beneficial how to win and beat out cash

546
00:25:15,680 --> 00:25:19,640
Speaker 3: buyers and hedge funds and expensive markets like New York

547
00:25:19,640 --> 00:25:20,520
Speaker 3: and Los Angeles.

548
00:25:20,600 --> 00:25:23,080
Speaker 4: Yeah, you got to know what you're doing. You're playing

549
00:25:23,119 --> 00:25:26,120
Speaker 4: against heavy hitters, and so you have to elevate your game.

550
00:25:26,160 --> 00:25:27,840
Speaker 4: If you think you're just going to walk into the

551
00:25:27,840 --> 00:25:29,440
Speaker 4: real estate market and be able to play with the

552
00:25:29,840 --> 00:25:32,119
Speaker 4: big boys and not understand what you're doing, you're gonna

553
00:25:32,119 --> 00:25:34,360
Speaker 4: lose every time. So I tell people all the time,

554
00:25:34,480 --> 00:25:36,520
Speaker 4: you see a property on trulyian Zilo, first and foremost,

555
00:25:36,520 --> 00:25:38,280
Speaker 4: that's not where I go to find properties. All of

556
00:25:38,280 --> 00:25:40,600
Speaker 4: my property I find is off market deals. So I'm

557
00:25:40,600 --> 00:25:42,639
Speaker 4: not competing with people because once a property hits one

558
00:25:42,640 --> 00:25:45,200
Speaker 4: of those websites, there's a thirty percent premium because now

559
00:25:45,240 --> 00:25:47,440
Speaker 4: demand is increasing because everybody in the world is seeing

560
00:25:47,440 --> 00:25:50,120
Speaker 4: that property that's getting emailed out to everyone. Right, So

561
00:25:50,280 --> 00:25:52,280
Speaker 4: I'm looking for off market deals. And how do you

562
00:25:52,320 --> 00:25:54,719
Speaker 4: find off market deals? You find them through relationships, through

563
00:25:54,800 --> 00:25:57,240
Speaker 4: human beings. So my real estate rollodecks in New Orleans

564
00:25:57,280 --> 00:26:01,320
Speaker 4: about sixty six people, multiple agents. That's a gym. I

565
00:26:01,320 --> 00:26:03,359
Speaker 4: don't just have one agent like a lot of people

566
00:26:03,359 --> 00:26:04,800
Speaker 4: that you just get one agent let them go do

567
00:26:04,800 --> 00:26:06,560
Speaker 4: all the work. Don't have multiple agents? Why would I

568
00:26:06,640 --> 00:26:09,480
Speaker 4: restrict my search to one single agent. Now, if that

569
00:26:09,560 --> 00:26:11,959
Speaker 4: agent happens to be the best in the city at

570
00:26:11,960 --> 00:26:15,080
Speaker 4: identifying multi family properties, I'll sign an exclusive agreement with them.

571
00:26:15,160 --> 00:26:17,720
Speaker 4: But otherwise, whoever brings me the deals, who's going to

572
00:26:17,720 --> 00:26:20,560
Speaker 4: get the commission and get paid. I have contractors, I

573
00:26:20,600 --> 00:26:23,480
Speaker 4: have lenders, I have other property owners. I have friends

574
00:26:23,480 --> 00:26:25,200
Speaker 4: and family who are looking out for me. Why would

575
00:26:25,200 --> 00:26:27,400
Speaker 4: a contractor be looking out for me? Because if they

576
00:26:27,480 --> 00:26:29,280
Speaker 4: find a deal and bring it to me, who's going

577
00:26:29,359 --> 00:26:31,640
Speaker 4: to get the work? When I need to rehab that property?

578
00:26:31,640 --> 00:26:32,840
Speaker 4: The contractor is right?

579
00:26:32,960 --> 00:26:35,200
Speaker 8: So what's that process like because a lot of times

580
00:26:35,200 --> 00:26:38,000
Speaker 8: people fall into that. You know what, everything was great,

581
00:26:38,160 --> 00:26:40,080
Speaker 8: I can't find a good contractor what's the process of

582
00:26:40,119 --> 00:26:42,119
Speaker 8: finding a good one, keeping a good one, build a

583
00:26:42,160 --> 00:26:43,000
Speaker 8: relationships with them.

584
00:26:43,119 --> 00:26:45,879
Speaker 4: Yeah, it's word of mouth and pulling up on people

585
00:26:45,920 --> 00:26:48,879
Speaker 4: on site. So when you see contractor outside of a house,

586
00:26:49,880 --> 00:26:51,960
Speaker 4: you pull up. You got to see their work. Otherwise

587
00:26:52,040 --> 00:26:55,040
Speaker 4: you're just guessing for some YELP reviews or something like that,

588
00:26:55,080 --> 00:26:57,280
Speaker 4: and all of those can be manipulated. If I actually

589
00:26:57,320 --> 00:26:59,680
Speaker 4: see your work and I see that you start to

590
00:26:59,680 --> 00:27:02,000
Speaker 4: hear about out Wednesday and you are out the door

591
00:27:02,080 --> 00:27:05,119
Speaker 4: by Monday of next week for a bathroom, then I

592
00:27:05,200 --> 00:27:08,280
Speaker 4: know you are efficient and good at what you do.

593
00:27:08,359 --> 00:27:10,159
Speaker 4: And it's got to be word of mouth. Like my

594
00:27:10,240 --> 00:27:12,359
Speaker 4: real estate Rollodecks has been built by word of mouth

595
00:27:12,359 --> 00:27:14,880
Speaker 4: and then pulling up people on site and testing them out,

596
00:27:14,920 --> 00:27:17,480
Speaker 4: so you might test them out on painting one bedroom

597
00:27:17,480 --> 00:27:20,040
Speaker 4: before you test them out on painting the entire house

598
00:27:20,119 --> 00:27:22,280
Speaker 4: that you have, right and see what the quality of

599
00:27:22,359 --> 00:27:25,320
Speaker 4: work is at that level. But back to the question

600
00:27:25,880 --> 00:27:28,679
Speaker 4: at hand, so off market deals. The other thing is

601
00:27:28,680 --> 00:27:30,600
Speaker 4: that the only thing that beats a cash offer is

602
00:27:30,600 --> 00:27:33,480
Speaker 4: a fast offer, So you have to be confident about

603
00:27:33,680 --> 00:27:36,560
Speaker 4: what you're doing. And when it comes to evaluating multi

604
00:27:36,600 --> 00:27:38,560
Speaker 4: family real estate, there's actually twenty three numbers that you

605
00:27:38,560 --> 00:27:40,680
Speaker 4: need to know. When you're buying a single family home,

606
00:27:40,720 --> 00:27:42,720
Speaker 4: is how much would we get approved for right? Four

607
00:27:42,800 --> 00:27:44,919
Speaker 4: hundred thousand? How much is the home three eighty do

608
00:27:44,960 --> 00:27:46,919
Speaker 4: we like it? Yes or no? Three factors. When you're

609
00:27:46,920 --> 00:27:48,879
Speaker 4: buying multi family real estate, there's twenty three numbers that

610
00:27:48,960 --> 00:27:50,320
Speaker 4: you have to know to evaluate a deal, and if

611
00:27:50,320 --> 00:27:52,320
Speaker 4: you leave out one single number, you can literally step

612
00:27:52,359 --> 00:27:53,879
Speaker 4: into a bad deal that will set you back for

613
00:27:53,920 --> 00:27:56,239
Speaker 4: five to ten years. So you have to know how

614
00:27:56,240 --> 00:27:58,479
Speaker 4: to run those numbers. If you are on Trullian Zillow

615
00:27:58,520 --> 00:28:01,399
Speaker 4: and you're over here heart and stuff and bookmarking stuff,

616
00:28:01,440 --> 00:28:03,760
Speaker 4: I know you're not ready to play this game. Because

617
00:28:04,040 --> 00:28:07,000
Speaker 4: when you are hurting something on Tuesday, right and put

618
00:28:07,000 --> 00:28:08,760
Speaker 4: it in your favorites folder and you talk about, I'm

619
00:28:08,760 --> 00:28:10,240
Speaker 4: gonna come back to it on Saturday, what's the two

620
00:28:10,240 --> 00:28:11,760
Speaker 4: words under the listing every time you come back to

621
00:28:11,840 --> 00:28:15,760
Speaker 4: it on Saturday pending under contract? Because you didn't know

622
00:28:15,760 --> 00:28:17,920
Speaker 4: how to play the game, somebody else saw the deal

623
00:28:17,960 --> 00:28:20,040
Speaker 4: and moved on it. So you have to be able

624
00:28:20,080 --> 00:28:23,600
Speaker 4: to make those decisions confidently. And it's all based on numbers.

625
00:28:23,720 --> 00:28:26,240
Speaker 4: Multi family real estate is purely based on economics, not

626
00:28:26,359 --> 00:28:29,399
Speaker 4: on emotions. So I don't make emotional decisions when it

627
00:28:29,400 --> 00:28:31,679
Speaker 4: comes to multi family real estate. For instance, the property

628
00:28:31,680 --> 00:28:34,960
Speaker 4: that I bought in Oakland, I was living here in Brooklyn.

629
00:28:35,119 --> 00:28:37,680
Speaker 4: I ran the numbers and my offer was in within

630
00:28:37,720 --> 00:28:41,400
Speaker 4: one hour of the listing being up, within one hour, right,

631
00:28:41,680 --> 00:28:44,080
Speaker 4: no hesitation whatsoever. I didn't have to see the property.

632
00:28:44,120 --> 00:28:46,920
Speaker 4: I've actually never set foot inside of this property. I

633
00:28:46,960 --> 00:28:49,440
Speaker 4: bought that property for four hundred and eighty thousand dollars

634
00:28:49,480 --> 00:28:52,120
Speaker 4: and twenty seven months we got a rear praise twenty

635
00:28:52,120 --> 00:28:54,600
Speaker 4: seven months later, as were seven hundred and ten and

636
00:28:54,680 --> 00:28:56,720
Speaker 4: I've never set foot inside of it. So for those

637
00:28:56,720 --> 00:28:59,640
Speaker 4: who are in expensive markets, your money does not have

638
00:28:59,680 --> 00:29:02,840
Speaker 4: to work in the same city as you do. Some

639
00:29:02,840 --> 00:29:05,400
Speaker 4: people have bought Amazon stock never been to Seattle. You

640
00:29:05,440 --> 00:29:08,920
Speaker 4: bought Nike stock and never been to Oregon. Your money

641
00:29:08,960 --> 00:29:10,400
Speaker 4: does not have to work in the same city as

642
00:29:10,400 --> 00:29:12,440
Speaker 4: you do. So when you understand how to run the numbers,

643
00:29:12,440 --> 00:29:14,080
Speaker 4: and you know certain neighborhoods, and you have a great

644
00:29:14,080 --> 00:29:17,600
Speaker 4: agent on the ground in that market, you're not limited

645
00:29:17,600 --> 00:29:19,400
Speaker 4: to where you are. A lot of people think, oh,

646
00:29:19,440 --> 00:29:21,640
Speaker 4: real estate, it has to be where I'm living, and

647
00:29:22,120 --> 00:29:25,880
Speaker 4: that's cool. Typically I tell people here's the four markets

648
00:29:25,920 --> 00:29:27,680
Speaker 4: that you should invest in, and a lot of people

649
00:29:27,680 --> 00:29:30,280
Speaker 4: think that they're cities. No one investor. First try to

650
00:29:30,280 --> 00:29:32,440
Speaker 4: invest where you live. Okay, if that doesn't work because

651
00:29:32,440 --> 00:29:35,920
Speaker 4: it's too expensive for something like that. To invest where

652
00:29:35,920 --> 00:29:38,520
Speaker 4: you're from, Because you know what was happening there when

653
00:29:38,520 --> 00:29:40,120
Speaker 4: you're growing up, you're able to see the patterns and

654
00:29:40,160 --> 00:29:42,320
Speaker 4: the trends. That's why I invested in Oakland, right. Then

655
00:29:42,360 --> 00:29:44,320
Speaker 4: three invest where you want to be a contribution, So

656
00:29:44,360 --> 00:29:45,760
Speaker 4: for me, that was New Orleans. I want to be

657
00:29:45,760 --> 00:29:48,800
Speaker 4: a contribution to that culture. And then four invest wherever

658
00:29:48,800 --> 00:29:51,040
Speaker 4: you can make money. I've never invested purely in a

659
00:29:51,080 --> 00:29:54,880
Speaker 4: place because of making money. So when it comes to

660
00:29:55,400 --> 00:29:58,800
Speaker 4: real estate being expensive where I am, let's just calculate

661
00:29:58,840 --> 00:30:01,680
Speaker 4: how expensive you paying rent is for the next five

662
00:30:01,720 --> 00:30:03,120
Speaker 4: to ten fifteen years.

663
00:30:03,200 --> 00:30:03,400
Speaker 7: Right.

664
00:30:03,480 --> 00:30:06,080
Speaker 4: If you're rent in New York is two thousand dollars,

665
00:30:06,120 --> 00:30:08,680
Speaker 4: that's twenty four thousand dollars. That's an l that's a

666
00:30:08,720 --> 00:30:11,720
Speaker 4: twenty four k L. And if we multiply that by

667
00:30:11,840 --> 00:30:14,800
Speaker 4: ten years, that's a quarter million dollars. That's two hundred

668
00:30:14,840 --> 00:30:17,920
Speaker 4: and forty thousand dollars ten years. So what's actually more expensive?

669
00:30:18,200 --> 00:30:20,760
Speaker 4: So when an expensive market like typically we're looking for

670
00:30:20,800 --> 00:30:23,640
Speaker 4: a twelve percent cash on cash return, right, But in

671
00:30:23,640 --> 00:30:27,440
Speaker 4: a market like New York, you might have to settle

672
00:30:27,480 --> 00:30:29,760
Speaker 4: for the fact that the money that's coming out of

673
00:30:29,800 --> 00:30:31,640
Speaker 4: my pocket is less than what I'm paying in rent.

674
00:30:32,320 --> 00:30:34,800
Speaker 4: So if I'm paying if I'm negative two thousand in

675
00:30:34,840 --> 00:30:36,680
Speaker 4: rent in New York and I'm able to find a

676
00:30:36,760 --> 00:30:39,840
Speaker 4: multifamily that only reduces my house an expense to five

677
00:30:39,920 --> 00:30:42,720
Speaker 4: hundred dollars. That's actually a win in an expensive market.

678
00:30:42,960 --> 00:30:44,960
Speaker 4: Is that the ideal twelve percent cash on cash return

679
00:30:45,000 --> 00:30:47,280
Speaker 4: when my property is now paying me no, but it's

680
00:30:47,280 --> 00:30:49,840
Speaker 4: actually changing my cash flow of my family because now

681
00:30:49,920 --> 00:30:52,160
Speaker 4: I'm up fifteen hundred dollars a month because of this

682
00:30:52,240 --> 00:30:54,720
Speaker 4: multi family. So these are some of the keys being

683
00:30:54,840 --> 00:30:58,000
Speaker 4: willing to invest from a distance, reevaluating the numbers and

684
00:30:58,000 --> 00:31:00,440
Speaker 4: comparing it to how expensive rent is, because that's going

685
00:31:00,520 --> 00:31:02,400
Speaker 4: to be there unless you've changed something. Rent is going

686
00:31:02,440 --> 00:31:03,920
Speaker 4: to continue to be there. There's only three ways to

687
00:31:03,920 --> 00:31:06,000
Speaker 4: get rid of your house and expense forever. That is

688
00:31:06,040 --> 00:31:08,680
Speaker 4: one live in a tent, two go to jail, or

689
00:31:08,720 --> 00:31:12,760
Speaker 4: three by multi family real estate. So you talk about

690
00:31:13,080 --> 00:31:15,880
Speaker 4: twenty three numbers to know what are some of the numbers. Yeah,

691
00:31:16,040 --> 00:31:19,360
Speaker 4: so you have to know the rents obviously, right, just

692
00:31:19,360 --> 00:31:21,600
Speaker 4: because a seller gives you rent role doesn't mean that

693
00:31:21,640 --> 00:31:23,440
Speaker 4: those are the actual rents. You need to know what

694
00:31:23,480 --> 00:31:25,840
Speaker 4: the actual rents are. You need leases, you need to

695
00:31:25,920 --> 00:31:26,360
Speaker 4: verify those.

696
00:31:26,400 --> 00:31:30,080
Speaker 3: Talk about that because that's something that people don't fully appreciate, Like, yeah,

697
00:31:30,200 --> 00:31:33,440
Speaker 3: you have to actually know what's actually happening with the property.

698
00:31:33,520 --> 00:31:35,720
Speaker 7: Yeah, not what it's just telling you what is happening. Yeah,

699
00:31:35,760 --> 00:31:36,920
Speaker 7: you have to do due diligence.

700
00:31:36,960 --> 00:31:39,360
Speaker 4: So I'm asking for leases, but even leases don't tell

701
00:31:39,360 --> 00:31:41,040
Speaker 4: me if that tenant is actually paying on time. So

702
00:31:41,080 --> 00:31:43,120
Speaker 4: I need to actually see that amount of money hitting

703
00:31:43,120 --> 00:31:46,120
Speaker 4: the account between the first and the fifth for all

704
00:31:46,160 --> 00:31:48,960
Speaker 4: four units that I'm about to purchase. I'm buying a business.

705
00:31:49,440 --> 00:31:51,160
Speaker 4: I'm buying a business. And if we were going to

706
00:31:51,200 --> 00:31:53,280
Speaker 4: buy a laundry matter or something like that, we're going

707
00:31:53,360 --> 00:31:56,080
Speaker 4: to actually need to see the cash flow now, because

708
00:31:56,160 --> 00:32:00,240
Speaker 4: most owners are just individuals. Some of them don't have

709
00:32:00,320 --> 00:32:03,840
Speaker 4: good accounting around the actual cash flow of the property.

710
00:32:04,000 --> 00:32:07,000
Speaker 4: But you have to know what you're getting into, especially

711
00:32:07,040 --> 00:32:10,040
Speaker 4: in this market where you have COVID restrictions and you

712
00:32:10,080 --> 00:32:13,680
Speaker 4: can't evict people, et cetera. You got to actually know

713
00:32:13,880 --> 00:32:15,960
Speaker 4: those things. And so I'm asking for bank statements. I

714
00:32:15,960 --> 00:32:18,000
Speaker 4: don't need to see your entire bank statement, cross everything out,

715
00:32:18,040 --> 00:32:19,560
Speaker 4: but I need to see when that money actually hit

716
00:32:19,600 --> 00:32:23,400
Speaker 4: the account, right. But then we use other online tools

717
00:32:23,720 --> 00:32:28,320
Speaker 4: like rental meter to actually identify how much should this

718
00:32:28,480 --> 00:32:31,720
Speaker 4: particular unit be getting right, and so if I see

719
00:32:31,720 --> 00:32:34,400
Speaker 4: that a seller has not increased rents for ten years

720
00:32:34,400 --> 00:32:36,719
Speaker 4: and the rents are actually at one thousand dollars, but

721
00:32:36,800 --> 00:32:39,280
Speaker 4: I run the numbers over here and look at the

722
00:32:39,320 --> 00:32:42,760
Speaker 4: standard deviation because that's what a rental meter does, and

723
00:32:42,800 --> 00:32:46,000
Speaker 4: I see that could actually be commanding thirteen hundred dollars

724
00:32:46,040 --> 00:32:48,880
Speaker 4: a month, then I might have found some hidden value

725
00:32:49,080 --> 00:32:52,520
Speaker 4: in a particular property. Now, as an ethical investor, I'm

726
00:32:52,560 --> 00:32:55,240
Speaker 4: not interested in displacing people. So I'm not like some

727
00:32:55,320 --> 00:32:58,160
Speaker 4: of these other real estate folks who say, yeah, just

728
00:32:58,840 --> 00:33:00,720
Speaker 4: come in by the property and just kick the people out. Know,

729
00:33:01,000 --> 00:33:04,240
Speaker 4: as ethical investors, we put people before profit. We put

730
00:33:04,280 --> 00:33:06,840
Speaker 4: people before profit. These we want our people to stay

731
00:33:06,880 --> 00:33:12,400
Speaker 4: in our communities. But what's crazy is that a good

732
00:33:12,440 --> 00:33:15,560
Speaker 4: investor actually has to increase rents every single year. And

733
00:33:15,560 --> 00:33:17,800
Speaker 4: that was that was a hard awakening for me. And

734
00:33:17,840 --> 00:33:21,920
Speaker 4: here's why. If I'm an owner in Oakland and I

735
00:33:21,960 --> 00:33:24,000
Speaker 4: don't increase rents just because I want to be nice

736
00:33:24,000 --> 00:33:27,440
Speaker 4: to my tenants, right then when I want to sell

737
00:33:27,480 --> 00:33:30,720
Speaker 4: my property at eight hundred thousand dollars, a property that

738
00:33:30,760 --> 00:33:33,840
Speaker 4: I got fifteen years ago for three hundred thousand dollars,

739
00:33:34,400 --> 00:33:37,040
Speaker 4: the crints will not justify that to a seller, and

740
00:33:37,080 --> 00:33:39,280
Speaker 4: therefore I will be stuck in that property and never

741
00:33:39,320 --> 00:33:42,320
Speaker 4: be able to get it off. So I'll literally not

742
00:33:42,360 --> 00:33:44,600
Speaker 4: be able to ever get liquid or release that property

743
00:33:44,600 --> 00:33:48,440
Speaker 4: because the rents don't justify it. And so we increase

744
00:33:48,520 --> 00:33:52,680
Speaker 4: rents according to the CPI in that market. So if

745
00:33:52,680 --> 00:33:55,840
Speaker 4: the CPI in Oakland will win up three percent that year,

746
00:33:55,880 --> 00:33:58,000
Speaker 4: then we're going to increase rents by three percent because

747
00:33:58,000 --> 00:33:59,840
Speaker 4: guess what, my other expenses are going to go up

748
00:34:00,120 --> 00:34:02,040
Speaker 4: three percent. My contractors are going to go up, my

749
00:34:02,120 --> 00:34:03,840
Speaker 4: utilities are going to go up, my garden is going

750
00:34:03,920 --> 00:34:06,000
Speaker 4: to go up, and so in order to provide you,

751
00:34:06,880 --> 00:34:09,000
Speaker 4: taxes are going up. So in order to still provide

752
00:34:09,000 --> 00:34:11,520
Speaker 4: you with the quality housing that I desire to provide

753
00:34:11,520 --> 00:34:13,680
Speaker 4: for you, I have to be able to meet that.

754
00:34:13,880 --> 00:34:16,320
Speaker 4: If I think just by being nice right and keeping

755
00:34:16,320 --> 00:34:19,120
Speaker 4: your rent where it is, then ultimately I might not

756
00:34:19,160 --> 00:34:21,239
Speaker 4: have enough money to fix that roof leak because I

757
00:34:21,280 --> 00:34:23,840
Speaker 4: didn't increase rents, but all my other expenses went up

758
00:34:23,960 --> 00:34:26,440
Speaker 4: during that period of time. Yeah, so this is this

759
00:34:26,480 --> 00:34:29,520
Speaker 4: is really key. So even as an ethical investor, we

760
00:34:29,560 --> 00:34:31,640
Speaker 4: have to increase rents, but we don't increase rents in

761
00:34:31,680 --> 00:34:33,640
Speaker 4: such a way where it's going to be from one

762
00:34:33,719 --> 00:34:36,160
Speaker 4: thousand and thirteen hundred just like that, or else you

763
00:34:36,200 --> 00:34:37,920
Speaker 4: got to get out. That's not that's not how we

764
00:34:37,960 --> 00:34:38,480
Speaker 4: treat people.

765
00:34:38,680 --> 00:34:41,120
Speaker 8: So you said, this is this kid because you know

766
00:34:41,160 --> 00:34:43,839
Speaker 8: all the numbers, and it's something like Corona happens. Yeah,

767
00:34:43,880 --> 00:34:47,319
Speaker 8: and you have a rental oratorium and it's like all right,

768
00:34:47,360 --> 00:34:48,680
Speaker 8: well people don't have to pay rent.

769
00:34:48,760 --> 00:34:50,719
Speaker 5: So how do you handle a situation like that? I

770
00:34:50,760 --> 00:34:53,000
Speaker 5: know you have a lot of doors. How does that work?

771
00:34:53,120 --> 00:34:57,279
Speaker 4: Yeah, so half of my portfolio section eight. So that's

772
00:34:57,320 --> 00:35:01,640
Speaker 4: guaranteed income, right, whether the economy is up and dawn. Yeah,

773
00:35:01,640 --> 00:35:03,759
Speaker 4: whether the economy is up or down, I'm straight. And then

774
00:35:03,880 --> 00:35:06,200
Speaker 4: the other key is you have to actually screen your tenants.

775
00:35:06,360 --> 00:35:10,879
Speaker 4: So my market rate tenants, teachers, nurses, people like that

776
00:35:10,960 --> 00:35:14,120
Speaker 4: whose income is not going to fluctuate based on a market.

777
00:35:14,239 --> 00:35:17,160
Speaker 4: Like in New Orleans, I typically won't hire somebody who's

778
00:35:17,200 --> 00:35:21,080
Speaker 4: in hospitality, right because, especially in this COVID environment, that

779
00:35:21,160 --> 00:35:24,040
Speaker 4: hotel shuts down or flights or canceled things of that nature.

780
00:35:24,120 --> 00:35:26,480
Speaker 4: Now their income is fluctuating there. For that means my

781
00:35:26,520 --> 00:35:28,640
Speaker 4: income is going to fluctuate so you have to be

782
00:35:28,719 --> 00:35:31,680
Speaker 4: very mindful about who you actually attract. So some of

783
00:35:31,680 --> 00:35:35,000
Speaker 4: those other numbers include your property management, right includes the

784
00:35:35,040 --> 00:35:37,960
Speaker 4: g gardening. Like if I look at a property online

785
00:35:38,000 --> 00:35:40,440
Speaker 4: and I see that it has no grass or a

786
00:35:40,480 --> 00:35:43,160
Speaker 4: lot of grass, I'm going to put aside a eighty

787
00:35:43,200 --> 00:35:45,960
Speaker 4: dollars budget a month for a gardener if it has grass,

788
00:35:46,080 --> 00:35:48,160
Speaker 4: because that has to be up kept. They're literally cities

789
00:35:48,200 --> 00:35:51,960
Speaker 4: that will give you give you tickets for not upkeeping

790
00:35:52,239 --> 00:35:55,000
Speaker 4: your yard. Right, I have to know my cap X.

791
00:35:55,080 --> 00:35:57,879
Speaker 4: Cap X is my capital expenditures. Those are about ten

792
00:35:57,920 --> 00:36:00,320
Speaker 4: percent of rents. So if rents are four thousand dollars,

793
00:36:00,320 --> 00:36:02,439
Speaker 4: I'm going to set aside four hundred dollars a month

794
00:36:02,480 --> 00:36:08,719
Speaker 4: in a separate account for roof, foundation, electrical plumbing, and

795
00:36:08,760 --> 00:36:11,120
Speaker 4: things of that nature. Right in HVAC, I'm going to

796
00:36:11,200 --> 00:36:14,200
Speaker 4: set aside money for those things that I know will come.

797
00:36:14,520 --> 00:36:16,200
Speaker 4: They might not be immediate right now. I may not

798
00:36:16,200 --> 00:36:17,600
Speaker 4: need a new roof right now, but I need to

799
00:36:17,640 --> 00:36:20,640
Speaker 4: set aside a portion of rents for that repair reserve.

800
00:36:20,800 --> 00:36:22,680
Speaker 4: Like the sink leaks or a hole in the wall,

801
00:36:22,840 --> 00:36:25,080
Speaker 4: or rodents or something like that, that's I'm gonna set

802
00:36:25,080 --> 00:36:27,080
Speaker 4: aside five percent For that, I got to know my

803
00:36:27,160 --> 00:36:30,080
Speaker 4: interest rate, right, I got to know my down payment

804
00:36:30,680 --> 00:36:32,960
Speaker 4: these are I got to know my PMI. So all

805
00:36:33,000 --> 00:36:35,279
Speaker 4: of these numbers factor into seeing if this property is

806
00:36:35,280 --> 00:36:37,720
Speaker 4: actually going to cash flow at the level that you desire.

807
00:36:37,760 --> 00:36:40,200
Speaker 4: And again you leave out one numbers, especially a number

808
00:36:40,280 --> 00:36:44,000
Speaker 4: like tax. You think you're buying a cash flowing property.

809
00:36:44,000 --> 00:36:45,759
Speaker 4: Then you see that your taxes in New York at

810
00:36:45,800 --> 00:36:48,800
Speaker 4: eight thousand dollars a year, and you realize that you're negative,

811
00:36:49,080 --> 00:36:52,000
Speaker 4: that you went backwards. And the key thing about tax

812
00:36:52,520 --> 00:36:55,440
Speaker 4: in calculating taxes when you're running your numbers is that

813
00:36:55,880 --> 00:36:58,080
Speaker 4: the tax assessment is usually going to be based on

814
00:36:58,560 --> 00:37:03,120
Speaker 4: the purchase price that the previous owner purchased the property at, right,

815
00:37:03,320 --> 00:37:04,960
Speaker 4: and their taxes are going to be based on that.

816
00:37:05,280 --> 00:37:08,200
Speaker 4: But once you purchase it at two times or three

817
00:37:08,239 --> 00:37:10,000
Speaker 4: times what they purchased it at because they were sitting

818
00:37:10,000 --> 00:37:12,920
Speaker 4: on it for twenty years, it's gonna get reassessed and

819
00:37:12,960 --> 00:37:16,520
Speaker 4: your taxes may double or triple accordingly, So if you

820
00:37:16,560 --> 00:37:20,200
Speaker 4: were running your numbers based on their taxes, you think

821
00:37:20,239 --> 00:37:22,080
Speaker 4: your property is cash flowing. But then when it gets

822
00:37:22,080 --> 00:37:24,960
Speaker 4: reassessed a year later after you've owned it you realize

823
00:37:25,000 --> 00:37:27,520
Speaker 4: that you're actually in the negative because you didn't account

824
00:37:27,560 --> 00:37:29,200
Speaker 4: for the fact that it was gonna get reassessed at

825
00:37:29,239 --> 00:37:31,080
Speaker 4: the purchase price that you bought it for.

826
00:37:31,360 --> 00:37:33,000
Speaker 3: So set you said, half of your properties are like

827
00:37:33,000 --> 00:37:35,200
Speaker 3: Section eight tenants. Yes, can you talk about that. We

828
00:37:35,239 --> 00:37:39,000
Speaker 3: haven't talked about that on the program yet. We'll talk

829
00:37:39,040 --> 00:37:40,840
Speaker 3: about Section eight because I know obviously it has a

830
00:37:40,840 --> 00:37:44,600
Speaker 3: lot of you know, stigma attached to it, but it's

831
00:37:44,960 --> 00:37:47,680
Speaker 3: actually a lot of positive It is for being a landlord.

832
00:37:47,719 --> 00:37:51,080
Speaker 4: Right. I don't know where the stigma came from. I

833
00:37:51,480 --> 00:37:53,120
Speaker 4: think it was in Living Color. I think it might

834
00:37:53,120 --> 00:37:55,080
Speaker 4: have been I think it might have been some of

835
00:37:55,160 --> 00:37:58,160
Speaker 4: Living Colors skin or Martin or something like that. Talking

836
00:37:58,160 --> 00:38:00,919
Speaker 4: about Section eight tenants. But you actually get to still

837
00:38:00,920 --> 00:38:03,279
Speaker 4: screen your section eightenants. Somebody. Just because somebody shows up

838
00:38:03,320 --> 00:38:04,920
Speaker 4: with a voucher, you don't have to say, oh, you

839
00:38:04,960 --> 00:38:07,040
Speaker 4: get to move in. You still have to screen them.

840
00:38:07,200 --> 00:38:09,520
Speaker 4: So I'm literally going to scream my section eighten It's

841
00:38:09,520 --> 00:38:11,960
Speaker 4: just like I was a screen market rate tenant, and I'm

842
00:38:12,000 --> 00:38:14,879
Speaker 4: looking at how she treats her kids. I'm looking at

843
00:38:14,880 --> 00:38:19,440
Speaker 4: how she how she keeps herself, right, I'm looking at language,

844
00:38:19,760 --> 00:38:21,800
Speaker 4: tone patterns and things of that. I'm looking at the

845
00:38:21,840 --> 00:38:24,680
Speaker 4: application if the instructions were followed, and things of that nature.

846
00:38:24,719 --> 00:38:27,279
Speaker 4: So I'm literally screening my second e tenants and my

847
00:38:27,320 --> 00:38:30,000
Speaker 4: Section eight tenants. I'll be honest with you, they all

848
00:38:30,040 --> 00:38:32,800
Speaker 4: of mine have been good. People fell on hard times.

849
00:38:32,960 --> 00:38:35,239
Speaker 4: So I had people who got displaced by Katrina. I

850
00:38:35,280 --> 00:38:39,080
Speaker 4: had people who who lost a husband, things of that nature,

851
00:38:39,160 --> 00:38:42,320
Speaker 4: and they just experienced something that knocked them off their feet,

852
00:38:42,440 --> 00:38:44,319
Speaker 4: and they're trying to get back on their feet. And

853
00:38:44,360 --> 00:38:46,680
Speaker 4: now I get to be a support mechanism provide them

854
00:38:46,680 --> 00:38:48,480
Speaker 4: a quality, affordable housing so that they don't have to

855
00:38:48,480 --> 00:38:51,799
Speaker 4: worry about that piece by living in a neighborhood that

856
00:38:51,920 --> 00:38:54,319
Speaker 4: is not actually conducive for their kids to grow up in.

857
00:38:54,520 --> 00:38:56,920
Speaker 4: So I love my Section eight tennis. They love me.

858
00:38:57,080 --> 00:39:00,480
Speaker 4: And on top of that, they typically don't don't leave

859
00:39:00,560 --> 00:39:04,600
Speaker 4: unless family size expands. They typically don't leave less family

860
00:39:04,640 --> 00:39:06,440
Speaker 4: size expands. So the section it's still in this for

861
00:39:06,480 --> 00:39:09,560
Speaker 4: a minute, So it's Section eight. People I think think

862
00:39:09,600 --> 00:39:13,920
Speaker 4: that Section eight they automatically assume projects housing projects. But

863
00:39:14,200 --> 00:39:15,680
Speaker 4: you can have section eight.

864
00:39:15,520 --> 00:39:18,080
Speaker 3: And living a home, Yeah, you don't have to live.

865
00:39:19,680 --> 00:39:24,040
Speaker 3: I think that's a common misconception also, correct. And luxury buildings, well,

866
00:39:24,120 --> 00:39:28,160
Speaker 3: that's different, that's not sextually and eight that's that's I

867
00:39:28,160 --> 00:39:32,040
Speaker 3: think that's like subsidized type of rent rent control. It's

868
00:39:32,040 --> 00:39:34,799
Speaker 3: a little different. But so Section eight is provided by

869
00:39:34,800 --> 00:39:35,360
Speaker 3: the government.

870
00:39:35,560 --> 00:39:35,880
Speaker 4: Correct.

871
00:39:35,960 --> 00:39:38,719
Speaker 3: You have to be you know, under a threshold I

872
00:39:38,880 --> 00:39:41,879
Speaker 3: think of like poverty level probably, right, and then they'll

873
00:39:41,920 --> 00:39:43,880
Speaker 3: give you like a voucher, let's say it's like fifteen

874
00:39:43,960 --> 00:39:46,400
Speaker 3: hundred dollars or a thousand dollars whatever, and then you

875
00:39:46,440 --> 00:39:48,920
Speaker 3: can use that and you can live in a.

876
00:39:49,200 --> 00:39:51,440
Speaker 7: House, right, just like that.

877
00:39:51,560 --> 00:39:56,000
Speaker 4: Yeah, So the only issue with Section eight is that

878
00:39:56,600 --> 00:40:01,640
Speaker 4: the inspections, so they are in New Orleans and particular, uh,

879
00:40:01,760 --> 00:40:04,960
Speaker 4: the inspections, they can come and they're very they're sticklers

880
00:40:04,960 --> 00:40:08,839
Speaker 4: about windows, there's sticklers about doors, there's sticklers about where

881
00:40:08,840 --> 00:40:12,440
Speaker 4: the where the uh the fire alarms are and everything

882
00:40:12,480 --> 00:40:14,840
Speaker 4: like that. So if you want to avoid any delays

883
00:40:14,840 --> 00:40:16,520
Speaker 4: in getting your first check, you kind of want to

884
00:40:16,560 --> 00:40:18,680
Speaker 4: start to learn what they actually look for so that

885
00:40:18,800 --> 00:40:20,920
Speaker 4: when they actually do come and do the inspection that

886
00:40:21,000 --> 00:40:24,319
Speaker 4: you're ready to go and the transfer can happen and.

887
00:40:24,640 --> 00:40:26,160
Speaker 3: The government paid you, so they don't have to worry

888
00:40:26,200 --> 00:40:28,520
Speaker 3: about government pays. What about rent increase?

889
00:40:28,640 --> 00:40:29,040
Speaker 7: Does that?

890
00:40:29,760 --> 00:40:34,280
Speaker 4: Oh? The Section eight programs. So my property in Oakland

891
00:40:34,280 --> 00:40:37,239
Speaker 4: and my properties in Brooklyn, actually all my properties have

892
00:40:37,360 --> 00:40:40,480
Speaker 4: Section eight and they're their equivalent to market rate, and

893
00:40:40,520 --> 00:40:42,840
Speaker 4: I don't have to worry. It's guaranteed. So when you

894
00:40:42,920 --> 00:40:45,120
Speaker 4: raise the rent, you know, I don't raise the rent.

895
00:40:45,560 --> 00:40:48,400
Speaker 4: They have their own payment standards, and their payment standards

896
00:40:48,400 --> 00:40:51,440
Speaker 4: have been competitive with market, right, yeah, the government.

897
00:40:51,480 --> 00:40:54,480
Speaker 3: So this year, this is the payment for two bedroom

898
00:40:54,520 --> 00:40:58,239
Speaker 3: in New Orleans, okay, and it's it's competitive to the market.

899
00:40:59,360 --> 00:41:01,360
Speaker 8: What's the process, so like when everything's going good, and

900
00:41:01,760 --> 00:41:05,320
Speaker 8: obviously you said ethical investors and we've screened our tenants.

901
00:41:05,560 --> 00:41:07,880
Speaker 8: But what happens when something goes bad and it's somebody

902
00:41:07,920 --> 00:41:09,319
Speaker 8: that you know, what we need to get them out

903
00:41:09,320 --> 00:41:09,880
Speaker 8: of the property?

904
00:41:10,120 --> 00:41:10,439
Speaker 5: Is it?

905
00:41:10,440 --> 00:41:12,920
Speaker 8: What's the process like to evict somebody that's in a

906
00:41:12,960 --> 00:41:13,759
Speaker 8: Section eight unit.

907
00:41:16,840 --> 00:41:19,759
Speaker 4: You just have to document what occurred and make sure

908
00:41:19,800 --> 00:41:22,200
Speaker 4: you get that information, have evidence to present to the counselor.

909
00:41:22,520 --> 00:41:25,400
Speaker 4: I mean there's other people who other landlords will desire

910
00:41:25,400 --> 00:41:28,160
Speaker 4: Section eight tenants. If you want them, you can have them,

911
00:41:28,160 --> 00:41:30,520
Speaker 4: but you just have to document the process. It's same

912
00:41:30,560 --> 00:41:32,640
Speaker 4: with any eviction. You got to go through the same thing.

913
00:41:32,680 --> 00:41:36,319
Speaker 4: And I only had to do two evictions in my

914
00:41:36,600 --> 00:41:39,799
Speaker 4: entire experience because I screened right and so I haven't

915
00:41:39,800 --> 00:41:42,160
Speaker 4: had to have that experience. But it's the same thing,

916
00:41:42,280 --> 00:41:44,600
Speaker 4: and you want to know the for Section eight I

917
00:41:44,640 --> 00:41:46,600
Speaker 4: typically go through, I would have to go through housing

918
00:41:46,760 --> 00:41:48,960
Speaker 4: for I would go through the Section eight office. But

919
00:41:49,040 --> 00:41:51,480
Speaker 4: for eviction, it's really key for anybody buying more time.

920
00:41:52,640 --> 00:41:54,879
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945
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946
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952
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953
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963
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Speaker 4: My family. You need to know what the eviction process

964
00:44:15,200 --> 00:44:17,160
Speaker 4: is in your city. You never want to use it,

965
00:44:17,200 --> 00:44:18,719
Speaker 4: but you need to know how it actually works and

966
00:44:18,719 --> 00:44:21,560
Speaker 4: how it operates, how quickly, how quickly it can happen.

967
00:44:21,719 --> 00:44:24,439
Speaker 4: So in New York take you six months.

968
00:44:24,239 --> 00:44:26,600
Speaker 7: Forever you take a year? Yeah, two years?

969
00:44:26,640 --> 00:44:27,240
Speaker 5: Yeah today?

970
00:44:27,480 --> 00:44:30,959
Speaker 4: Yeah exactly. So that was what makes it a tenant

971
00:44:31,000 --> 00:44:33,359
Speaker 4: friendly or a landlord friendly thing. You need to know

972
00:44:33,480 --> 00:44:35,839
Speaker 4: that process because it may it may happen to you,

973
00:44:35,920 --> 00:44:38,920
Speaker 4: and that would six months or a year would significantly

974
00:44:38,960 --> 00:44:41,680
Speaker 4: affect your cash flow and some for some people, their

975
00:44:41,760 --> 00:44:43,440
Speaker 4: ability to actually afford that property.

976
00:44:43,640 --> 00:44:45,960
Speaker 3: So yeah, how do you get listed for Section eight?

977
00:44:45,960 --> 00:44:48,040
Speaker 3: You just go on like the government's website and fill out.

978
00:44:48,160 --> 00:44:53,839
Speaker 4: I've never been on Section eight, so I'm sayloord, get

979
00:44:53,840 --> 00:44:56,040
Speaker 4: a properties, go straight to the Section eight office and

980
00:44:56,080 --> 00:44:59,920
Speaker 4: say here's I would like to create an account. You'll

981
00:45:00,000 --> 00:45:01,560
Speaker 4: at your first listening up there, just like you're putting

982
00:45:01,560 --> 00:45:04,200
Speaker 4: it up on apartments dot com, no different. And then

983
00:45:04,800 --> 00:45:07,560
Speaker 4: they're going to ask for your your articles of incorporation,

984
00:45:07,600 --> 00:45:09,799
Speaker 4: They're going to ask for your avoided check, et cetera,

985
00:45:09,880 --> 00:45:11,840
Speaker 4: so that they can wire you the money on the

986
00:45:11,880 --> 00:45:13,880
Speaker 4: first of the month. That money comes like clockwork.

987
00:45:14,280 --> 00:45:17,200
Speaker 3: Yeah, like I said, I mean from a landlord standpoint,

988
00:45:17,200 --> 00:45:18,480
Speaker 3: it's the government paying you.

989
00:45:18,520 --> 00:45:21,080
Speaker 4: So yeah, you don't have to worry about it whether

990
00:45:21,080 --> 00:45:24,799
Speaker 4: the economy is up or down. So yeah, that's like

991
00:45:24,880 --> 00:45:25,560
Speaker 4: you can't beat that.

992
00:45:26,040 --> 00:45:27,840
Speaker 8: So you said, I'm gonna go back a little bit

993
00:45:27,880 --> 00:45:29,920
Speaker 8: because I'm thinking that the average person was looking to

994
00:45:30,239 --> 00:45:32,839
Speaker 8: invest in real estate. If we're not using truly, we're

995
00:45:32,840 --> 00:45:36,359
Speaker 8: not using Zilo, and we haven't built real estate rolodecks. Yeah,

996
00:45:36,400 --> 00:45:38,719
Speaker 8: where we're going we're going to ultrasifying properties or were

997
00:45:38,719 --> 00:45:40,600
Speaker 8: going to like the section Like, where would I go

998
00:45:41,120 --> 00:45:42,359
Speaker 8: if I was just trying to start?

999
00:45:42,680 --> 00:45:44,560
Speaker 4: Yeah, So if you're just trying to start, you go

1000
00:45:44,680 --> 00:45:48,719
Speaker 4: get educated first. You go get educated first. But h

1001
00:45:48,920 --> 00:45:51,359
Speaker 4: you know, they call it driving for dollars, So first

1002
00:45:51,360 --> 00:45:54,400
Speaker 4: and foremost, you want to identify a neighborhood that you

1003
00:45:54,520 --> 00:45:56,640
Speaker 4: think is about to pop off next and so I

1004
00:45:56,680 --> 00:45:58,319
Speaker 4: don't care what city you're in. You should be able

1005
00:45:58,360 --> 00:45:59,919
Speaker 4: to take me on a helicopter ride of that city

1006
00:46:00,000 --> 00:46:03,200
Speaker 4: and actually show me where the lines are, where things

1007
00:46:03,280 --> 00:46:05,200
Speaker 4: are on the fringes, where things are about to pop off.

1008
00:46:05,200 --> 00:46:07,839
Speaker 4: You should be able to tell me that because when

1009
00:46:07,880 --> 00:46:10,040
Speaker 4: you're looking at truly in Zilo, you're looking from a

1010
00:46:10,200 --> 00:46:12,919
Speaker 4: property level. But we need to see how your city

1011
00:46:13,000 --> 00:46:16,040
Speaker 4: is trending. Where are people moving to? Right, So as

1012
00:46:16,120 --> 00:46:19,600
Speaker 4: rents increase in major urban centers, people are leaving and

1013
00:46:19,640 --> 00:46:21,879
Speaker 4: they're going somewhere, and so you need to be able

1014
00:46:21,920 --> 00:46:23,680
Speaker 4: to tell me in your market where are people going.

1015
00:46:23,800 --> 00:46:27,000
Speaker 4: So Mesa, Arizona was one of the hottest rental markets

1016
00:46:27,040 --> 00:46:29,680
Speaker 4: in the country. And you know where Mesa, Arizona is.

1017
00:46:30,360 --> 00:46:34,880
Speaker 4: It's fifteen minutes outside of Phoenix. So Phoenix was getting

1018
00:46:34,920 --> 00:46:38,280
Speaker 4: gentrified and people deciding where do I go that still

1019
00:46:38,800 --> 00:46:41,400
Speaker 4: can get me to work? And Mesa happen to be it.

1020
00:46:41,719 --> 00:46:44,200
Speaker 4: So you need to find that smaller secondary market that

1021
00:46:44,320 --> 00:46:47,399
Speaker 4: is around it. So once you've identified a neighborhood, now

1022
00:46:47,480 --> 00:46:49,200
Speaker 4: you want to start driving for dollars, and you want

1023
00:46:49,239 --> 00:46:52,200
Speaker 4: to start looking for where there's trends, where you're starting

1024
00:46:52,239 --> 00:46:54,759
Speaker 4: to see the ten to fifteen signs of gentrification, and

1025
00:46:54,840 --> 00:47:00,319
Speaker 4: you want to target your search specifically. There then comes

1026
00:47:00,360 --> 00:47:02,320
Speaker 4: personal branding. You have to let people know that this

1027
00:47:02,440 --> 00:47:04,320
Speaker 4: is actually what you're looking for. You need to be

1028
00:47:04,520 --> 00:47:07,920
Speaker 4: very clear in your language. I'm looking for a triplex

1029
00:47:08,400 --> 00:47:13,279
Speaker 4: the in seven eight oh two for the price range

1030
00:47:13,280 --> 00:47:15,480
Speaker 4: of two hundred and fifty thousand dollars, and you need

1031
00:47:15,560 --> 00:47:18,040
Speaker 4: to start communicating that to not only agents, but to

1032
00:47:18,239 --> 00:47:24,360
Speaker 4: everybody around you so that when things happen, so for instance,

1033
00:47:24,920 --> 00:47:30,200
Speaker 4: somebody's parent transitions or their grandmother transitions, and the children

1034
00:47:30,239 --> 00:47:32,719
Speaker 4: do not want to buy. No child of the four

1035
00:47:32,960 --> 00:47:35,080
Speaker 4: wants to buy the house from their siblings.

1036
00:47:35,280 --> 00:47:35,400
Speaker 5: Right.

1037
00:47:35,520 --> 00:47:38,160
Speaker 4: Everybody wants to cash out. And before it hits the market,

1038
00:47:38,239 --> 00:47:41,520
Speaker 4: guess who they reach out to you because you communicated

1039
00:47:41,560 --> 00:47:43,640
Speaker 4: what you were looking for a well, my friend is

1040
00:47:43,719 --> 00:47:48,520
Speaker 4: looking for a multifamily now. So this is this is

1041
00:47:48,560 --> 00:47:51,560
Speaker 4: the key is to build those relationships and let other

1042
00:47:51,600 --> 00:47:55,160
Speaker 4: people know what you're actually looking for. It's not a website.

1043
00:47:55,480 --> 00:48:00,319
Speaker 4: It's been relationships for me, and then driving for dollars

1044
00:48:00,400 --> 00:48:03,400
Speaker 4: means also skip tracing. So driving for dollars, you're driving

1045
00:48:03,600 --> 00:48:06,160
Speaker 4: through neighborhoods and you're looking for properties that are boarded up,

1046
00:48:06,360 --> 00:48:08,520
Speaker 4: you're looking for properties that had overgrown grass, you're looking

1047
00:48:08,560 --> 00:48:11,840
Speaker 4: for properties with twenty newspapers in the front yard, and

1048
00:48:12,440 --> 00:48:14,759
Speaker 4: you take down the address and you do what they

1049
00:48:14,840 --> 00:48:18,040
Speaker 4: call skip trace, and skip tracing means going online and

1050
00:48:18,080 --> 00:48:21,520
Speaker 4: actually identifying the owner through the assessor's website or through

1051
00:48:21,760 --> 00:48:25,520
Speaker 4: white pages dot com. Right, So you skip trace, skip

1052
00:48:25,600 --> 00:48:28,000
Speaker 4: trace them, you call them, you text them, you mail them,

1053
00:48:28,320 --> 00:48:32,000
Speaker 4: right and you ask them if they're what they're doing,

1054
00:48:32,040 --> 00:48:34,560
Speaker 4: what their intentions are for that property. So the home

1055
00:48:34,640 --> 00:48:36,480
Speaker 4: that I live in, my single family that I live

1056
00:48:36,520 --> 00:48:37,880
Speaker 4: in now, I didn't get a single family until I

1057
00:48:37,920 --> 00:48:40,480
Speaker 4: had twenty doors, right. So, but my home that I

1058
00:48:40,560 --> 00:48:43,560
Speaker 4: live in now, I skip trace the owner. I wanted

1059
00:48:43,600 --> 00:48:47,080
Speaker 4: that property. I saw it sitting there vacant, and when

1060
00:48:47,120 --> 00:48:50,200
Speaker 4: I first found her, she said that, oh yeah, I

1061
00:48:50,239 --> 00:48:52,200
Speaker 4: plan to move on there, finish the work that's in there,

1062
00:48:52,239 --> 00:48:54,000
Speaker 4: et cetera. Because it was down to the studs already.

1063
00:48:54,360 --> 00:48:56,360
Speaker 4: And it took me a year and a half to

1064
00:48:56,440 --> 00:48:59,960
Speaker 4: get that property. But I'm the only one that knew

1065
00:49:00,239 --> 00:49:03,120
Speaker 4: that she was in a in between space about what

1066
00:49:03,239 --> 00:49:04,920
Speaker 4: she was going to do with the property because I

1067
00:49:05,000 --> 00:49:06,719
Speaker 4: was the only one who did the research. So I

1068
00:49:06,800 --> 00:49:08,880
Speaker 4: got that property at a discount. I got it for

1069
00:49:09,400 --> 00:49:13,799
Speaker 4: I think put in sixty finished it out really nice

1070
00:49:14,120 --> 00:49:16,799
Speaker 4: and it's worth it Actually is getting re praised this week,

1071
00:49:16,920 --> 00:49:19,120
Speaker 4: and I think it's going to praise it three hundred thousand.

1072
00:49:19,960 --> 00:49:24,200
Speaker 3: So well done for people. Let's just bring it back. Multifamily.

1073
00:49:24,320 --> 00:49:27,719
Speaker 3: The benefit of having a multifamily is that you have

1074
00:49:28,600 --> 00:49:31,279
Speaker 3: cash flow as opposed to just most people when they

1075
00:49:31,320 --> 00:49:33,080
Speaker 3: think of buying a home and just buying a single

1076
00:49:33,160 --> 00:49:36,080
Speaker 3: family home. Yeah, and as you said, the problem with

1077
00:49:36,160 --> 00:49:37,920
Speaker 3: that is that if you lose your job, it's not

1078
00:49:38,080 --> 00:49:40,160
Speaker 3: really that when people say, like it's a home and

1079
00:49:40,200 --> 00:49:43,920
Speaker 3: asset or a liability and it's like a single family technically,

1080
00:49:44,320 --> 00:49:45,600
Speaker 3: you can kind of say it.

1081
00:49:45,600 --> 00:49:46,440
Speaker 7: Could be a liability.

1082
00:49:47,600 --> 00:49:51,400
Speaker 3: Di tactically is where it's a multi family home. You

1083
00:49:51,480 --> 00:49:55,200
Speaker 3: got somebody living you know, below you, above you. Now

1084
00:49:55,280 --> 00:49:59,160
Speaker 3: you actually collect two forms of rent. So it's actually

1085
00:49:59,200 --> 00:50:02,400
Speaker 3: positive cash flow. So that's the benefit of anybody that's wondering,

1086
00:50:02,480 --> 00:50:04,600
Speaker 3: like while we're talking aout multifamily, that's the benefit of

1087
00:50:04,680 --> 00:50:07,680
Speaker 3: multi family homes. Now, one of the knocks multi family

1088
00:50:07,719 --> 00:50:10,479
Speaker 3: homes is that people don't want to live with other people.

1089
00:50:10,480 --> 00:50:12,640
Speaker 3: They don't want to live in the same house that

1090
00:50:12,880 --> 00:50:15,040
Speaker 3: somebody is above them or somebody is blow them.

1091
00:50:15,320 --> 00:50:16,759
Speaker 7: What would you say to them for that.

1092
00:50:17,239 --> 00:50:20,480
Speaker 4: You're renting right now, somebody living above you or next

1093
00:50:20,520 --> 00:50:21,000
Speaker 4: to you right now.

1094
00:50:21,120 --> 00:50:23,160
Speaker 7: If you're in a building, yeah, you likely are.

1095
00:50:23,480 --> 00:50:25,279
Speaker 3: But like as far as like buying a home, and

1096
00:50:25,360 --> 00:50:27,279
Speaker 3: you're like, if I'm an buy a home, I want

1097
00:50:27,320 --> 00:50:27,600
Speaker 3: a home.

1098
00:50:27,640 --> 00:50:30,520
Speaker 7: I don't want to live you have to deal with neighbors.

1099
00:50:30,440 --> 00:50:32,880
Speaker 4: But you're gonna have to deal with a mortgage. You

1100
00:50:32,920 --> 00:50:34,560
Speaker 4: either deal with neighbors, you deal with a mortgage, and

1101
00:50:34,840 --> 00:50:37,320
Speaker 4: faha is only one you're living requirement? Right, So a

1102
00:50:37,360 --> 00:50:39,960
Speaker 4: lot of people the single family dream has been pushed

1103
00:50:40,000 --> 00:50:43,319
Speaker 4: to folks, But the American dream is just rocked people

1104
00:50:43,360 --> 00:50:45,799
Speaker 4: to sleep. It's actually the American nightmare. Everything they tell

1105
00:50:45,800 --> 00:50:47,799
Speaker 4: you to do in the American dream is to rock

1106
00:50:47,840 --> 00:50:50,080
Speaker 4: you to sleep. Everything they tell you to go to college,

1107
00:50:50,360 --> 00:50:52,920
Speaker 4: who gets paid off that student non interest the government?

1108
00:50:53,040 --> 00:50:55,359
Speaker 4: They say, go get a high paying job, who gets

1109
00:50:55,400 --> 00:50:57,880
Speaker 4: paid Take the money off the top the government. Then

1110
00:50:57,920 --> 00:51:00,040
Speaker 4: they say go get a single family home who you

1111
00:51:00,120 --> 00:51:02,080
Speaker 4: have to pay property taxes to the government everything they

1112
00:51:02,120 --> 00:51:03,480
Speaker 4: told you to do in the American dream so that

1113
00:51:03,480 --> 00:51:04,120
Speaker 4: they could get paid.

1114
00:51:04,440 --> 00:51:04,560
Speaker 7: Right.

1115
00:51:04,920 --> 00:51:07,239
Speaker 4: So, AHGTV will have you fooled and thinking that once

1116
00:51:07,280 --> 00:51:10,200
Speaker 4: you get the keys you are a home owner. That's

1117
00:51:10,239 --> 00:51:13,759
Speaker 4: a lie, your home buyer, you bought a home, you're

1118
00:51:13,760 --> 00:51:15,680
Speaker 4: not a homeowner because you only put three point five

1119
00:51:15,719 --> 00:51:17,600
Speaker 4: percent down. The bank owns the other ninety six point

1120
00:51:17,600 --> 00:51:20,040
Speaker 4: five percent, right, And so we have to be very

1121
00:51:20,080 --> 00:51:22,680
Speaker 4: careful with our language. What happens is a lot of

1122
00:51:22,680 --> 00:51:24,880
Speaker 4: people buy single family homes and like, oh, look at me,

1123
00:51:24,920 --> 00:51:27,960
Speaker 4: I'm grown now. I ain't renting no more. That's a lie.

1124
00:51:28,160 --> 00:51:30,600
Speaker 4: You still are renting. You're not rented from a landlord.

1125
00:51:30,920 --> 00:51:33,320
Speaker 4: You just rented the bank's money. What is the bank's

1126
00:51:33,320 --> 00:51:37,560
Speaker 4: money rented called? It's called interest. You're renting money. You're

1127
00:51:37,600 --> 00:51:39,879
Speaker 4: not renting a space. You're renting money.

1128
00:51:40,239 --> 00:51:40,399
Speaker 7: Right.

1129
00:51:40,719 --> 00:51:44,200
Speaker 4: And so on a three hundred thousand dollars loan at

1130
00:51:44,280 --> 00:51:47,000
Speaker 4: four percent with only three point five percent down, you're

1131
00:51:47,000 --> 00:51:48,920
Speaker 4: about to pay two hundred and eight thousand dollars an interest.

1132
00:51:49,000 --> 00:51:50,799
Speaker 4: So people look at a single family home say, oh,

1133
00:51:50,840 --> 00:51:53,480
Speaker 4: that home's only three hundred thousand dollars. No, that home

1134
00:51:53,600 --> 00:51:56,120
Speaker 4: is going to cost you five hundred and eight thousand dollars.

1135
00:51:56,880 --> 00:51:58,920
Speaker 4: Not only are you buying yourself a home, you're buying

1136
00:51:59,040 --> 00:52:03,000
Speaker 4: your lender a home at the same time. And if

1137
00:52:03,040 --> 00:52:06,799
Speaker 4: you look at the mortgage payment, like, what bank would

1138
00:52:06,800 --> 00:52:09,200
Speaker 4: you go to where you put in two thousand dollars

1139
00:52:09,320 --> 00:52:11,560
Speaker 4: into the account and you only get credited six hundred?

1140
00:52:12,000 --> 00:52:15,000
Speaker 4: Would you bank with a bank like that? That's what

1141
00:52:15,080 --> 00:52:18,240
Speaker 4: a mortgage payment is. Your first mortgage payment or FHA

1142
00:52:18,360 --> 00:52:20,920
Speaker 4: loan at three point five percent down is seventy percent interest.

1143
00:52:21,440 --> 00:52:24,160
Speaker 4: So you put in two thousand and the interest was

1144
00:52:24,200 --> 00:52:30,759
Speaker 4: fourteen hundred. That's a terrible transaction. So when we look

1145
00:52:30,800 --> 00:52:34,080
Speaker 4: at that, a single family home is a dangerous way

1146
00:52:34,280 --> 00:52:37,600
Speaker 4: to try to begin your real estate journey because if

1147
00:52:37,600 --> 00:52:40,920
Speaker 4: you're not careful, this is what's sick. If you're not careful.

1148
00:52:41,280 --> 00:52:44,640
Speaker 4: When you add in the interests, the private mortgage insurance,

1149
00:52:44,840 --> 00:52:47,759
Speaker 4: the property taxes, the homeowner's insurance, and the maintenance of

1150
00:52:47,840 --> 00:52:51,080
Speaker 4: that property, a single family home buyer can actually have

1151
00:52:51,200 --> 00:52:53,280
Speaker 4: more money going out of their pocket due to housing

1152
00:52:53,920 --> 00:52:56,040
Speaker 4: than someone who is renting the same square footage across

1153
00:52:56,040 --> 00:52:59,960
Speaker 4: the street. Now, people say well, Julian, my house appreciate.

1154
00:53:00,600 --> 00:53:03,359
Speaker 4: The appreciation only is covering the interest that you were

1155
00:53:03,400 --> 00:53:05,560
Speaker 4: going to pay to the bank. You're not really up,

1156
00:53:06,000 --> 00:53:08,719
Speaker 4: it's only covering the interest. And so we have to

1157
00:53:08,760 --> 00:53:11,440
Speaker 4: be very careful about calling a single family home an

1158
00:53:11,520 --> 00:53:14,600
Speaker 4: asset when it really isn't. And if you haven't leveraged it,

1159
00:53:14,719 --> 00:53:16,680
Speaker 4: if your money is stuck, even if it has appreciated,

1160
00:53:16,719 --> 00:53:18,600
Speaker 4: and your money stuck in the walls, then it's just

1161
00:53:18,680 --> 00:53:22,200
Speaker 4: sitting there doing nothing until you actually liquidate. And liquid

1162
00:53:22,239 --> 00:53:24,040
Speaker 4: eate doing means selling, and once you sell, you have

1163
00:53:24,120 --> 00:53:27,600
Speaker 4: no place to live. So this is very key. Now

1164
00:53:27,640 --> 00:53:30,120
Speaker 4: there's four financial benefits of multi family real estate. I've

1165
00:53:30,160 --> 00:53:33,120
Speaker 4: talked to you about cash on cash return, and so

1166
00:53:33,239 --> 00:53:35,480
Speaker 4: I have a duplex in New Orleans that I spent

1167
00:53:36,640 --> 00:53:38,680
Speaker 4: the price I didn't spend, but the price is three

1168
00:53:38,719 --> 00:53:41,520
Speaker 4: hundred thousand dollars. So let me just break down over

1169
00:53:41,560 --> 00:53:43,360
Speaker 4: the next thirty years how much that property is going

1170
00:53:43,400 --> 00:53:44,640
Speaker 4: to pay me. It does not look like a million

1171
00:53:44,680 --> 00:53:46,640
Speaker 4: dollar home, but it actually is when you actually look

1172
00:53:46,640 --> 00:53:48,640
Speaker 4: at the numbers. So over the next thirty years, that

1173
00:53:48,640 --> 00:53:50,200
Speaker 4: property is going to pay me six hundred and thirty

1174
00:53:50,239 --> 00:53:53,360
Speaker 4: eight thousand, dollars in cash flow. That's after principal interest, taxes,

1175
00:53:53,400 --> 00:53:55,640
Speaker 4: insurance capecks, or pairs of a vacancy rate. That's money

1176
00:53:55,680 --> 00:53:57,560
Speaker 4: in my pocket over the next six hundred over the

1177
00:53:57,600 --> 00:54:00,960
Speaker 4: next thirty years. Then the tax say savings on that property,

1178
00:54:01,200 --> 00:54:02,680
Speaker 4: money that I do not pay the government, will be

1179
00:54:02,719 --> 00:54:06,200
Speaker 4: two hundred and seventy eight thousand dollars. I'm getting two

1180
00:54:06,280 --> 00:54:08,759
Speaker 4: hundred and seventy eight thousand dollars in tax savings on

1181
00:54:08,840 --> 00:54:09,920
Speaker 4: a three hundred thousand.

1182
00:54:09,640 --> 00:54:11,240
Speaker 5: Dollars home because of the location of the property.

1183
00:54:11,480 --> 00:54:14,080
Speaker 4: No, because I get to depreciate that property over twenty

1184
00:54:14,160 --> 00:54:16,840
Speaker 4: seven point five years and all the expenses related to

1185
00:54:16,920 --> 00:54:19,560
Speaker 4: that property. So I'm actually reducing my tax liability by

1186
00:54:19,600 --> 00:54:23,000
Speaker 4: two hundred and seventy eight thousand dollars over thirty years.

1187
00:54:23,280 --> 00:54:25,840
Speaker 4: Then the principal payd down. Who's paying the principal, I'm not,

1188
00:54:26,280 --> 00:54:28,440
Speaker 4: the tennis are, So that's two hundred and twenty five

1189
00:54:28,480 --> 00:54:30,920
Speaker 4: thousand dollars. And then if this property appreciates by one

1190
00:54:30,960 --> 00:54:33,160
Speaker 4: percent every year for the next thirty years, that's an

1191
00:54:33,160 --> 00:54:35,799
Speaker 4: additional one hundred and four thousand dollars. So you add

1192
00:54:35,920 --> 00:54:37,960
Speaker 4: all that up, that's one point two million dollars. So

1193
00:54:38,080 --> 00:54:40,080
Speaker 4: this is a million dollar property, and I still have

1194
00:54:40,200 --> 00:54:42,879
Speaker 4: the property, which is also now I still have three

1195
00:54:42,960 --> 00:54:45,160
Speaker 4: hundred thousand of equity as in the property, so it's

1196
00:54:45,160 --> 00:54:47,800
Speaker 4: actually one point five. So this is simply off of

1197
00:54:47,880 --> 00:54:50,200
Speaker 4: a three hundred thousand dollars duplex. And when you see that,

1198
00:54:51,000 --> 00:54:53,200
Speaker 4: then it becomes a no brainer. See, a lot of

1199
00:54:53,239 --> 00:54:55,359
Speaker 4: people are hesitant to invest in multi family real estate,

1200
00:54:55,440 --> 00:54:58,080
Speaker 4: especially people who are getting this fast money through stock

1201
00:54:58,120 --> 00:55:01,000
Speaker 4: options and stock market investing, et ceter. It's it's great,

1202
00:55:01,239 --> 00:55:03,319
Speaker 4: and we need the fast money and the slow money,

1203
00:55:03,560 --> 00:55:06,920
Speaker 4: but multi family real estate it's actually a twenty five

1204
00:55:06,960 --> 00:55:09,880
Speaker 4: percent return. It's just not a cash on cash return.

1205
00:55:10,239 --> 00:55:12,320
Speaker 4: If I have a twelve percent cash on cash return,

1206
00:55:12,360 --> 00:55:14,320
Speaker 4: and then I add in those other benefits of the

1207
00:55:14,360 --> 00:55:17,800
Speaker 4: principal paydown, the tax savings, and the appreciation, my actual

1208
00:55:17,840 --> 00:55:20,320
Speaker 4: annual rate of return is around twenty five percent. Elon

1209
00:55:20,440 --> 00:55:24,759
Speaker 4: musk annual rate of return since he sold, since he

1210
00:55:24,880 --> 00:55:27,680
Speaker 4: exited PayPal, and to what he has today, his annual

1211
00:55:27,760 --> 00:55:29,360
Speaker 4: rate of return has been forty four point four to

1212
00:55:29,360 --> 00:55:31,759
Speaker 4: four percent. So if I'm able to get twenty five

1213
00:55:31,760 --> 00:55:34,200
Speaker 4: percent return, I think I'm doing pretty good. And a

1214
00:55:34,280 --> 00:55:35,960
Speaker 4: lot of people, you know, the stock market S and

1215
00:55:36,040 --> 00:55:38,480
Speaker 4: P five hundred. Guess what the rate of return is

1216
00:55:38,520 --> 00:55:39,879
Speaker 4: on the S and P five hundred over the past

1217
00:55:39,920 --> 00:55:46,640
Speaker 4: twenty years, everybody twelve percent. January first, two thousand to

1218
00:55:46,960 --> 00:55:50,360
Speaker 4: December thirty first, twenty twenty, the annual rate of return

1219
00:55:50,480 --> 00:55:51,919
Speaker 4: on the S and P five hundred was four point

1220
00:55:51,920 --> 00:55:57,560
Speaker 4: seven seven percent. Run you can go run the numbers right,

1221
00:55:57,840 --> 00:55:59,879
Speaker 4: and there's a lot more volatility in that as well.

1222
00:56:00,440 --> 00:56:03,560
Speaker 4: This is consistent. My daughter will be able to inherit

1223
00:56:03,600 --> 00:56:05,840
Speaker 4: these if I stop right now. Just what my portfolio is,

1224
00:56:05,920 --> 00:56:08,960
Speaker 4: my private portfolio right now, at the age of thirty six,

1225
00:56:09,080 --> 00:56:11,480
Speaker 4: my daughter will have twenty five thousand dollars in passive

1226
00:56:11,520 --> 00:56:14,080
Speaker 4: income for the rest of her life if I stop

1227
00:56:14,200 --> 00:56:18,360
Speaker 4: now right because of multi family real estate investing. So

1228
00:56:20,120 --> 00:56:22,880
Speaker 4: what I've done is I played the long term game first.

1229
00:56:23,080 --> 00:56:25,480
Speaker 4: So a lot of people, you know, they try to

1230
00:56:25,480 --> 00:56:27,479
Speaker 4: get rich quis games, but if they would have played

1231
00:56:27,480 --> 00:56:29,239
Speaker 4: the long term game a long time ago, they'd be

1232
00:56:29,280 --> 00:56:32,839
Speaker 4: a lot further along. So I've actually secured the long

1233
00:56:32,960 --> 00:56:34,800
Speaker 4: term game first. And then what that does is it

1234
00:56:34,800 --> 00:56:37,560
Speaker 4: frees me up to take greater risk in other avenues

1235
00:56:37,600 --> 00:56:40,560
Speaker 4: and other forms of investment that have more volatility. So

1236
00:56:40,880 --> 00:56:42,879
Speaker 4: that's been the way I played the game.

1237
00:56:43,000 --> 00:56:44,160
Speaker 5: You said your private portfolio.

1238
00:56:44,200 --> 00:56:46,880
Speaker 8: I'm just in my head, I'm thinking in your private portfolio,

1239
00:56:47,000 --> 00:56:49,960
Speaker 8: you still buying the properties through an LLC or.

1240
00:56:50,040 --> 00:56:50,680
Speaker 5: Is how does that work?

1241
00:56:50,760 --> 00:56:50,880
Speaker 8: Is it?

1242
00:56:50,920 --> 00:56:52,839
Speaker 4: In? Yeah, this stage, at this stage, so you can

1243
00:56:52,880 --> 00:56:56,080
Speaker 4: only have ten mortgages as an individual. So yeah, all

1244
00:56:56,120 --> 00:56:58,840
Speaker 4: of my purchases now are in my business name or

1245
00:56:58,920 --> 00:57:02,120
Speaker 4: in the LLC. So there's the parent LLC which is

1246
00:57:02,160 --> 00:57:04,600
Speaker 4: a holding company, and then each property has its own

1247
00:57:04,760 --> 00:57:08,560
Speaker 4: individual LLC and that's that's how I operate now.

1248
00:57:08,920 --> 00:57:09,080
Speaker 7: Yeah.

1249
00:57:09,160 --> 00:57:12,160
Speaker 4: Yeah, yeah, it makes it easier, everything's cleaner, it keeps

1250
00:57:12,160 --> 00:57:12,680
Speaker 4: the book clean.

1251
00:57:13,040 --> 00:57:13,480
Speaker 7: Yeah yeah.

1252
00:57:13,600 --> 00:57:16,000
Speaker 3: So what about mindset because I feel like, you know,

1253
00:57:16,360 --> 00:57:18,840
Speaker 3: we talked about like finance, and that's one hurdle that

1254
00:57:18,960 --> 00:57:21,920
Speaker 3: stops people. That's why I wanted to open up with financing.

1255
00:57:22,040 --> 00:57:24,280
Speaker 3: But it's not the only hurdle. I think a lot

1256
00:57:24,320 --> 00:57:27,720
Speaker 3: of times people just don't believe that they can buy

1257
00:57:27,720 --> 00:57:30,040
Speaker 3: a home or they just you know, it's especially if

1258
00:57:30,040 --> 00:57:31,800
Speaker 3: you've been written your whole life and you live in

1259
00:57:31,840 --> 00:57:34,600
Speaker 3: a city like New York. List is it's a far

1260
00:57:34,920 --> 00:57:38,520
Speaker 3: fetched idea, And I think the mindset is kind of

1261
00:57:38,560 --> 00:57:39,440
Speaker 3: stops people as well.

1262
00:57:39,600 --> 00:57:42,760
Speaker 4: Yeah, that's the reason my student succeed is to be

1263
00:57:42,800 --> 00:57:45,360
Speaker 4: focused on the mindset. Right, there's the physical real estate

1264
00:57:45,400 --> 00:57:47,479
Speaker 4: and then there's the mental real estate. And the fact

1265
00:57:47,480 --> 00:57:49,520
Speaker 4: that people are lacking intellectual property is the reason that

1266
00:57:49,560 --> 00:57:52,280
Speaker 4: they don't have physical property. They're missing the information up here.

1267
00:57:52,320 --> 00:57:54,920
Speaker 4: This is why they don't as manifested out here. So

1268
00:57:55,840 --> 00:57:58,280
Speaker 4: the biggest one of the biggest mindset shifts is and

1269
00:57:58,400 --> 00:58:00,400
Speaker 4: you saw me say this, that invests fast that people

1270
00:58:00,480 --> 00:58:02,960
Speaker 4: have to recognize that if you're renting right now, you're homeless.

1271
00:58:04,880 --> 00:58:07,480
Speaker 4: If you're renting right now. And I'm not saying it jokingly,

1272
00:58:07,600 --> 00:58:09,120
Speaker 4: and I'm kind of saying it joking, and I'm kind

1273
00:58:09,160 --> 00:58:11,400
Speaker 4: of serious because technically you are homeless. You literally do

1274
00:58:11,560 --> 00:58:13,920
Speaker 4: not have a home. You're not on the title, you're

1275
00:58:14,000 --> 00:58:16,360
Speaker 4: not on the deed. And when you look at an

1276
00:58:16,360 --> 00:58:17,400
Speaker 4: actual homeless.

1277
00:58:17,040 --> 00:58:21,480
Speaker 3: Person, technically homeless, yeah home not homeless like you're on

1278
00:58:21,600 --> 00:58:23,880
Speaker 3: the street, correct, but you just don't have a home

1279
00:58:25,120 --> 00:58:28,920
Speaker 3: a home homeless, yes, So when we look at the

1280
00:58:29,000 --> 00:58:31,480
Speaker 3: actual homeless person who's on the street, right, they probably

1281
00:58:31,560 --> 00:58:34,040
Speaker 3: dealt with childhood abuse, They probably.

1282
00:58:33,800 --> 00:58:35,840
Speaker 4: Dealing with mental illness. They have no money, no friends,

1283
00:58:35,920 --> 00:58:40,120
Speaker 4: no family, no shelter, no food, no job, none of that. Right,

1284
00:58:40,160 --> 00:58:41,720
Speaker 4: All they have is to clothes on their backs. And

1285
00:58:42,160 --> 00:58:45,280
Speaker 4: here all of us are. We have roof over ahead,

1286
00:58:45,320 --> 00:58:47,800
Speaker 4: We got the internet, one thousand dollars, computer, one thousand dollars, phone,

1287
00:58:48,040 --> 00:58:51,160
Speaker 4: long old resumes, all this education, people who love us, etc.

1288
00:58:51,600 --> 00:58:53,760
Speaker 4: How is it that that person who's sleeping on the

1289
00:58:53,800 --> 00:58:56,680
Speaker 4: bus bench owns as many properties as you do because

1290
00:58:56,680 --> 00:58:59,560
Speaker 4: all the advantages that you have. How is that possible?

1291
00:58:59,800 --> 00:58:59,920
Speaker 5: Right?

1292
00:59:00,400 --> 00:59:03,440
Speaker 4: And so when people recognize that they're actually homeless, and

1293
00:59:03,560 --> 00:59:06,640
Speaker 4: they start to change their subconscious mind because we say,

1294
00:59:06,760 --> 00:59:08,640
Speaker 4: what do people say, Oh, this is my apartment. You

1295
00:59:08,720 --> 00:59:10,760
Speaker 4: know you're dating somebody say, come over to my apartment.

1296
00:59:11,640 --> 00:59:14,880
Speaker 4: That is not your apartment. But we are subconsciously lying

1297
00:59:14,920 --> 00:59:16,600
Speaker 4: to ourselves when we call it my apartment or my

1298
00:59:16,680 --> 00:59:19,120
Speaker 4: house when it's actually not. And so what I actually

1299
00:59:19,200 --> 00:59:21,800
Speaker 4: encourage people to do when they join my program, I

1300
00:59:21,920 --> 00:59:26,440
Speaker 4: literally tell them start going and getting boxes, start packing up. Earners,

1301
00:59:26,480 --> 00:59:26,880
Speaker 4: listen up.

1302
00:59:26,960 --> 00:59:29,200
Speaker 8: There's a new site that's building the best real estate

1303
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Speaker 8: and investing experience ever.

1304
00:59:30,960 --> 00:59:31,960
Speaker 4: It's called Fundrise.

1305
00:59:32,040 --> 00:59:35,400
Speaker 8: It's the first online investment platform designed to give every

1306
00:59:35,480 --> 00:59:39,040
Speaker 8: person the opportunity to own a portfolio of high quality

1307
00:59:39,120 --> 00:59:42,640
Speaker 8: real estate affordably thanks to their cutting edge, low cost model.

1308
00:59:42,760 --> 00:59:46,520
Speaker 8: That's right, Fundriise is revolutionizing the investment world by delivering

1309
00:59:46,640 --> 00:59:49,880
Speaker 8: unparallel transparency and real time reporting that lets you see

1310
00:59:49,920 --> 00:59:53,600
Speaker 8: how the development of specific properties impact your overall portfolio.

1311
00:59:53,800 --> 00:59:57,880
Speaker 8: The platforms innovations, power and investor first model. By eliminating

1312
00:59:57,920 --> 01:00:00,760
Speaker 8: the bloated costs of middlemen that have addertionally, you weigh

1313
01:00:00,920 --> 01:00:04,560
Speaker 8: down real estate investment, saving investors time and money. Every

1314
01:00:04,640 --> 01:00:07,840
Speaker 8: fund Riise portfolio can be allocated according to the types

1315
01:00:07,880 --> 01:00:10,880
Speaker 8: of real estate you personally prefer, drawing on the platforms

1316
01:00:11,000 --> 01:00:14,200
Speaker 8: many active properties over one hundred and fifty handpicked by

1317
01:00:14,240 --> 01:00:16,800
Speaker 8: the in house team of pros, and many more added

1318
01:00:16,920 --> 01:00:19,240
Speaker 8: all the time. When you add fundraise real estate to

1319
01:00:19,320 --> 01:00:22,360
Speaker 8: your investment strategy, you're unlocking a deeper sort of diversification

1320
01:00:22,680 --> 01:00:25,320
Speaker 8: than anything available through your run of the mill public

1321
01:00:25,360 --> 01:00:27,439
Speaker 8: stocks and bonds. And one of the secrets that many

1322
01:00:27,480 --> 01:00:30,560
Speaker 8: of the country's wealthiest investors understand is that when you diversify,

1323
01:00:30,720 --> 01:00:33,240
Speaker 8: your portfolio is not just resilient, it's actually a positioned

1324
01:00:33,280 --> 01:00:35,560
Speaker 8: to earn more. Overall but now, no matter what kind

1325
01:00:35,600 --> 01:00:37,840
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1326
01:00:37,880 --> 01:00:39,080
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1327
01:00:39,280 --> 01:00:41,240
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1328
01:00:41,560 --> 01:00:43,640
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1330
01:00:46,560 --> 01:00:49,680
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1331
01:00:49,720 --> 01:00:53,120
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1332
01:00:53,200 --> 01:00:55,480
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1334
01:00:59,320 --> 01:01:03,240
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1335
01:01:03,600 --> 01:01:06,280
Speaker 8: slash leisure to have your first three months of fees

1336
01:01:06,360 --> 01:01:10,880
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1337
01:01:11,000 --> 01:01:12,480
Speaker 8: don't hesitate, head over there now.

1338
01:01:13,800 --> 01:01:16,800
Speaker 4: I need you start packing up, Go get boxes, because

1339
01:01:17,000 --> 01:01:19,080
Speaker 4: when I travel, and I know you all been on

1340
01:01:19,160 --> 01:01:22,320
Speaker 4: the road, right, do you start taking stuff out of

1341
01:01:22,360 --> 01:01:24,360
Speaker 4: your suitcase and hanging it all up and putting it

1342
01:01:24,360 --> 01:01:26,160
Speaker 4: in the drawers? No, you live out of your suitcase

1343
01:01:26,360 --> 01:01:30,000
Speaker 4: because you know that that place, that hotel is not yours, right,

1344
01:01:30,280 --> 01:01:33,480
Speaker 4: So why do we unpack and get comfortable in places

1345
01:01:33,560 --> 01:01:34,920
Speaker 4: that actually do not belong to us?

1346
01:01:34,960 --> 01:01:36,760
Speaker 7: That's like big, you know, big business.

1347
01:01:36,920 --> 01:01:39,280
Speaker 3: Yeah, So when we interview him, he was saying that

1348
01:01:40,000 --> 01:01:43,600
Speaker 3: he moved to Miami and he never got a TV.

1349
01:01:43,800 --> 01:01:45,120
Speaker 7: I don't think he got a cow. You just had

1350
01:01:45,160 --> 01:01:45,439
Speaker 7: a bed.

1351
01:01:45,920 --> 01:01:49,760
Speaker 3: And he promised his wife and his chap that the

1352
01:01:49,840 --> 01:01:51,640
Speaker 3: reason why he wasn't going to furnish the place because

1353
01:01:51,640 --> 01:01:53,520
Speaker 3: he was only going to be there for a temporary time,

1354
01:01:53,600 --> 01:01:55,000
Speaker 3: So he didn't want to get comfortable.

1355
01:01:55,160 --> 01:01:57,160
Speaker 4: Why get comfortable in a place that's time mine. People

1356
01:01:57,320 --> 01:01:59,959
Speaker 4: over here painting walls, you buying furniture for certain nook

1357
01:02:00,080 --> 01:02:03,080
Speaker 4: in somebody else's house. You're putting up bookshelves, You making

1358
01:02:03,080 --> 01:02:05,240
Speaker 4: it look nice. Everybody in the neighborhood thinks you own it,

1359
01:02:05,280 --> 01:02:09,120
Speaker 4: and you don't, So go start packing your boxes. Literally,

1360
01:02:09,360 --> 01:02:12,000
Speaker 4: people have closed in less than ninety days once they

1361
01:02:12,080 --> 01:02:16,520
Speaker 4: got their mind right. Like imagine being enslaved in Maryland,

1362
01:02:16,640 --> 01:02:19,800
Speaker 4: right Maryland, right below the Mason Dixon line. And now

1363
01:02:19,920 --> 01:02:21,520
Speaker 4: you've been a slave for forty years, and now you're

1364
01:02:21,560 --> 01:02:23,880
Speaker 4: on your deathbed and somebody tells you that the Mason

1365
01:02:23,920 --> 01:02:26,840
Speaker 4: Dixon line is right there by the horizon, by that

1366
01:02:26,920 --> 01:02:29,080
Speaker 4: tall tree. The Mason Dixon line was right there the

1367
01:02:29,120 --> 01:02:31,040
Speaker 4: whole time. But you didn't know it. You just weren't

1368
01:02:31,040 --> 01:02:33,560
Speaker 4: aware of it. Once you realize that the Mason Dixon

1369
01:02:33,600 --> 01:02:36,480
Speaker 4: line is actually that close, you run for it. And

1370
01:02:36,600 --> 01:02:40,360
Speaker 4: so the ability to acquire multi family real estate. People

1371
01:02:40,400 --> 01:02:42,720
Speaker 4: think you need to have a real estate license. People

1372
01:02:42,760 --> 01:02:44,640
Speaker 4: think that you need to have bought a single family

1373
01:02:44,720 --> 01:02:48,400
Speaker 4: home first. People have all these myths about what it

1374
01:02:48,480 --> 01:02:51,080
Speaker 4: takes to get in the game. People think that you

1375
01:02:51,160 --> 01:02:54,080
Speaker 4: need to have a ton of money saved. Literally, people

1376
01:02:54,160 --> 01:02:56,360
Speaker 4: have not gone to go get prepproved. You won't believe

1377
01:02:56,360 --> 01:02:58,200
Speaker 4: how many people have not even gone to go get preapproved.

1378
01:03:00,680 --> 01:03:02,400
Speaker 4: The reason they haven't gone to get pre approved is

1379
01:03:02,400 --> 01:03:04,920
Speaker 4: because their own perception of how they're shown up in

1380
01:03:05,000 --> 01:03:07,440
Speaker 4: the world. You know, everybody around us perceives us in

1381
01:03:07,520 --> 01:03:10,880
Speaker 4: this high way like your significant other, your friends or

1382
01:03:10,920 --> 01:03:12,720
Speaker 4: family see you in your best life. But we look

1383
01:03:12,760 --> 01:03:15,920
Speaker 4: at ourselves in the lowest way sometimes. And so what

1384
01:03:16,000 --> 01:03:18,320
Speaker 4: I tell people is go get pre approved. I don't

1385
01:03:18,360 --> 01:03:20,919
Speaker 4: care how you see your financial situation right now, Let's

1386
01:03:20,920 --> 01:03:23,560
Speaker 4: see how the bank sees your financial situation, and you'll

1387
01:03:23,600 --> 01:03:25,240
Speaker 4: be surprised. You thought that you could only get pre

1388
01:03:25,280 --> 01:03:27,400
Speaker 4: approved for three hundred thousand dollars was not enough to

1389
01:03:27,400 --> 01:03:29,640
Speaker 4: buy a multifamily in your market. But when you actually

1390
01:03:29,680 --> 01:03:31,120
Speaker 4: went to the lender and showed them what you had,

1391
01:03:31,280 --> 01:03:33,240
Speaker 4: they approved you for five hundred thousand dollars. You could

1392
01:03:33,240 --> 01:03:34,800
Speaker 4: have been in the game a long time ago, but

1393
01:03:34,920 --> 01:03:37,280
Speaker 4: you were afraid to go get pre approved. You were

1394
01:03:37,280 --> 01:03:39,560
Speaker 4: afraid to open up your financial house and let somebody

1395
01:03:39,600 --> 01:03:42,200
Speaker 4: in and come see, and you'll realize that it's not

1396
01:03:42,280 --> 01:03:44,680
Speaker 4: as bad as you think. Because this is a physical,

1397
01:03:44,760 --> 01:03:48,200
Speaker 4: tangible asset, real estate, banks are more willing to lend

1398
01:03:48,320 --> 01:03:51,080
Speaker 4: against that than your business idea that you have your

1399
01:03:51,200 --> 01:03:54,960
Speaker 4: ten page business plan on. So go get pre approved.

1400
01:03:55,000 --> 01:03:57,640
Speaker 4: It costs you nothing to go get pre approved. You're

1401
01:03:57,640 --> 01:03:59,600
Speaker 4: going to ask for your W twos, some pay stuffs,

1402
01:04:00,080 --> 01:04:02,920
Speaker 4: your tax returns, your bank statements. Go literally go to

1403
01:04:03,000 --> 01:04:04,680
Speaker 4: the bank that you have your checking or savings account

1404
01:04:04,720 --> 01:04:07,560
Speaker 4: at and start there. I don't care what your credit is.

1405
01:04:07,640 --> 01:04:09,000
Speaker 4: All we want to do is see what number they

1406
01:04:09,000 --> 01:04:10,720
Speaker 4: come back to you with. And if that number is

1407
01:04:10,760 --> 01:04:13,360
Speaker 4: too low to buy multi family real estate in your market,

1408
01:04:13,640 --> 01:04:15,640
Speaker 4: then let's fix the things. If it's your credit, then

1409
01:04:15,720 --> 01:04:17,520
Speaker 4: let's work on your credit. If it's your savings, let's

1410
01:04:17,520 --> 01:04:19,240
Speaker 4: work on your savings. If it's your income that they

1411
01:04:19,280 --> 01:04:21,080
Speaker 4: say is too low. Then let's work on your income.

1412
01:04:21,240 --> 01:04:23,680
Speaker 4: But let's be in the know. Let's start from that awareness.

1413
01:04:23,720 --> 01:04:26,200
Speaker 4: But some people have been able to get pre approved

1414
01:04:26,240 --> 01:04:28,760
Speaker 4: for more than they needed, but they have been afraid

1415
01:04:28,920 --> 01:04:31,920
Speaker 4: because this whole we got this wave of people who

1416
01:04:31,920 --> 01:04:34,520
Speaker 4: are just focused on perfect credit scores. Right now, the

1417
01:04:35,360 --> 01:04:37,120
Speaker 4: purpose of credit is to be leveraged and to you

1418
01:04:37,480 --> 01:04:39,400
Speaker 4: be used. Some people have better credit scores than me

1419
01:04:39,480 --> 01:04:43,320
Speaker 4: but have no assets. Right, So we're not just trying

1420
01:04:43,320 --> 01:04:45,760
Speaker 4: to create perfect credit scores. We're trying to build wealth,

1421
01:04:45,880 --> 01:04:49,160
Speaker 4: and not just generational wealth. We're trying to create regenerational wealth.

1422
01:04:49,160 --> 01:04:52,920
Speaker 4: And regenerational wealth is wealth that transcends multiple generations. Generational

1423
01:04:52,960 --> 01:04:55,640
Speaker 4: wealth is passed down one generation. We're seeking to create

1424
01:04:55,720 --> 01:04:58,840
Speaker 4: regenerational wealth and enter into what I call the asset class.

1425
01:04:59,160 --> 01:05:01,440
Speaker 4: Right there's only four classes of people. There's lower class,

1426
01:05:01,440 --> 01:05:03,560
Speaker 4: middle class, upper class, and asset class. And only one

1427
01:05:03,560 --> 01:05:06,480
Speaker 4: of those classes of people is free. It's the asset class.

1428
01:05:06,560 --> 01:05:09,320
Speaker 4: This is the top line on your sweatshirts. It's the

1429
01:05:09,360 --> 01:05:12,480
Speaker 4: asset class. The asset class. People have passive income that

1430
01:05:12,600 --> 01:05:14,320
Speaker 4: covers their costs of living. Even if I'm in the

1431
01:05:14,400 --> 01:05:16,320
Speaker 4: upper class and I have a good paying job like

1432
01:05:16,400 --> 01:05:19,280
Speaker 4: my mom did. I'm still not free. I'm actually more

1433
01:05:19,320 --> 01:05:21,600
Speaker 4: free than some fortune five hundred CEOs right now, even

1434
01:05:21,600 --> 01:05:23,560
Speaker 4: though I don't make the money that they make, because

1435
01:05:23,560 --> 01:05:26,200
Speaker 4: I own my time, because I have assets that cover

1436
01:05:26,560 --> 01:05:29,920
Speaker 4: my entire cost of living and more so, this is

1437
01:05:30,000 --> 01:05:32,880
Speaker 4: what the goal is. And so for me, the multifamily movement,

1438
01:05:33,560 --> 01:05:36,000
Speaker 4: it's not just about multi family real estate. That's what

1439
01:05:36,080 --> 01:05:39,160
Speaker 4: I realized recently. It's about multiple families come together to

1440
01:05:39,200 --> 01:05:41,920
Speaker 4: create regenerational wealth and enter the asset class. And the

1441
01:05:42,000 --> 01:05:44,919
Speaker 4: first asset that we're buying together is multi family real estate.

1442
01:05:45,280 --> 01:05:47,880
Speaker 4: But beyond that, I expect to be in these people's

1443
01:05:47,920 --> 01:05:49,840
Speaker 4: lives for the rest of their lives as we continue

1444
01:05:49,880 --> 01:05:51,320
Speaker 4: to create regenerational wealth together.

1445
01:05:52,200 --> 01:05:54,360
Speaker 8: I'm glad you broke down asset class because I wanted

1446
01:05:54,400 --> 01:05:56,880
Speaker 8: to talk to you about the difference between being in

1447
01:05:57,000 --> 01:05:58,000
Speaker 8: poverty and being poor.

1448
01:05:58,040 --> 01:05:59,800
Speaker 4: I know that's something that you have like, oh my goodness,

1449
01:06:00,000 --> 01:06:03,120
Speaker 4: and a follow up after that, yeah, yeah, yeah, so

1450
01:06:03,680 --> 01:06:06,720
Speaker 4: this is this is you know. I wrote Rich and Righteous,

1451
01:06:06,760 --> 01:06:10,600
Speaker 4: the Spiritual Secrets and Manifesting More Money and Mastering your Mind,

1452
01:06:11,000 --> 01:06:14,439
Speaker 4: and in there I talk about the difference between being

1453
01:06:14,560 --> 01:06:15,560
Speaker 4: poor and being in poverty.

1454
01:06:17,640 --> 01:06:19,760
Speaker 7: Oh, it's shout out. I appreciate it.

1455
01:06:19,760 --> 01:06:20,439
Speaker 5: I didn't even notice.

1456
01:06:21,320 --> 01:06:24,120
Speaker 4: I appreciate that, of course, of course, of course. I

1457
01:06:24,200 --> 01:06:26,800
Speaker 4: mean it's it's really about moving our people from poverty

1458
01:06:26,840 --> 01:06:28,880
Speaker 4: consciousness to well consciousness, because I realize that if we

1459
01:06:29,000 --> 01:06:32,400
Speaker 4: give all these financial strategies to people with the poverty consciousness,

1460
01:06:32,440 --> 01:06:34,800
Speaker 4: that none of them will take root. And so we

1461
01:06:34,960 --> 01:06:37,440
Speaker 4: have to be very careful and make sure that the

1462
01:06:37,640 --> 01:06:40,320
Speaker 4: soil is set first, and that's where the mind comes in.

1463
01:06:40,480 --> 01:06:43,240
Speaker 4: So if I'm born into poverty, poverty is just an

1464
01:06:43,240 --> 01:06:45,560
Speaker 4: external condition. It is not who I am. But what

1465
01:06:45,640 --> 01:06:47,800
Speaker 4: happens is when a black boy or black girl is

1466
01:06:47,880 --> 01:06:50,800
Speaker 4: born into poverty, they look around them and they base

1467
01:06:50,880 --> 01:06:52,880
Speaker 4: their identity based on what they see, and they say,

1468
01:06:53,000 --> 01:06:56,400
Speaker 4: I am poor because they see poverty. But that's not

1469
01:06:56,440 --> 01:06:58,720
Speaker 4: the truth of your identity. The truth is that you

1470
01:06:58,840 --> 01:07:01,720
Speaker 4: are abundant, and abundance is your birth right. And the

1471
01:07:01,840 --> 01:07:04,960
Speaker 4: reason that I think we as a collective, most of us,

1472
01:07:05,000 --> 01:07:07,880
Speaker 4: have been born into those conditions is actually to prove

1473
01:07:07,920 --> 01:07:11,800
Speaker 4: how rich we are. We were born into poverty, approve

1474
01:07:11,840 --> 01:07:14,200
Speaker 4: how rich we are. If I'm Paris Hilton, right, and

1475
01:07:14,480 --> 01:07:17,520
Speaker 4: I'm born into wealth, I can't prove how rich I

1476
01:07:17,600 --> 01:07:19,920
Speaker 4: am because I already had it, it was already handed

1477
01:07:19,960 --> 01:07:21,919
Speaker 4: to me. But if I'm born into poverty, I actually

1478
01:07:21,960 --> 01:07:28,040
Speaker 4: can demonstrate that I am abundant regardless of my external condition.

1479
01:07:28,520 --> 01:07:31,400
Speaker 4: And so this is a mindset. So never say I

1480
01:07:31,480 --> 01:07:33,680
Speaker 4: am poor? Right, I am are the two most powerful

1481
01:07:33,720 --> 01:07:36,720
Speaker 4: words in the English language. Never say I am poor.

1482
01:07:37,600 --> 01:07:39,560
Speaker 4: You can say I was born into poverty, but that

1483
01:07:39,680 --> 01:07:42,920
Speaker 4: is not who I am. And we've seen all these

1484
01:07:42,960 --> 01:07:47,240
Speaker 4: albums that you see here, people have demonstrated that my

1485
01:07:47,360 --> 01:07:49,960
Speaker 4: external condition does not define me. And we've seen people

1486
01:07:50,000 --> 01:07:52,680
Speaker 4: create abundance out of nothing. And jay Z said, put

1487
01:07:52,680 --> 01:07:54,600
Speaker 4: me anywhere on God's green earth, I trip my worth.

1488
01:07:54,840 --> 01:07:56,400
Speaker 4: That means that regardless of what I have in my

1489
01:07:56,440 --> 01:07:58,400
Speaker 4: pocket and what's around me, I know that the true

1490
01:07:58,440 --> 01:08:00,640
Speaker 4: wealth is actually inside of me. And so when we

1491
01:08:00,760 --> 01:08:03,760
Speaker 4: start there in the mindset, I believe that it's a

1492
01:08:03,840 --> 01:08:06,680
Speaker 4: more fertile soil for us to actually implant these wealth

1493
01:08:06,720 --> 01:08:08,680
Speaker 4: seeds and these strategies and that they'll take root and

1494
01:08:08,720 --> 01:08:09,640
Speaker 4: they'll they'll grow from there.

1495
01:08:11,800 --> 01:08:14,240
Speaker 3: So how'd you get into the education aspect of it?

1496
01:08:14,280 --> 01:08:16,320
Speaker 3: Because I want to talk about the multi family movement.

1497
01:08:17,120 --> 01:08:19,760
Speaker 3: You're an investor, you realize, you know you can make money,

1498
01:08:20,360 --> 01:08:25,040
Speaker 3: change your family. What prompted you to actually building a community.

1499
01:08:25,320 --> 01:08:25,519
Speaker 7: Yeah.

1500
01:08:25,680 --> 01:08:28,840
Speaker 4: So I'm a real estate investor first, then a real

1501
01:08:28,920 --> 01:08:32,840
Speaker 4: estate educator, then a real estate developer. And I was

1502
01:08:32,880 --> 01:08:35,760
Speaker 4: speaking at colleges and companies for from two thousand and

1503
01:08:35,880 --> 01:08:38,400
Speaker 4: nine when I quit my job up until like two

1504
01:08:38,400 --> 01:08:40,360
Speaker 4: thousand and here was about a ten year run. And

1505
01:08:40,880 --> 01:08:43,559
Speaker 4: I was taking the money that I was making from

1506
01:08:43,560 --> 01:08:45,800
Speaker 4: speaking and I was pouring it into real estate. And

1507
01:08:45,960 --> 01:08:48,720
Speaker 4: I kept getting more questions about real estate then I

1508
01:08:48,800 --> 01:08:51,320
Speaker 4: would get about anything else. And so I said, let

1509
01:08:51,360 --> 01:08:53,920
Speaker 4: me start teaching people how to do this. And so

1510
01:08:54,920 --> 01:08:58,840
Speaker 4: my first student, Chris cosy Row, he actually hands with

1511
01:08:58,960 --> 01:09:02,479
Speaker 4: marketing for a Queen of Fool or whatnot, and he

1512
01:09:02,600 --> 01:09:05,760
Speaker 4: closed on a four plex near usc using NAKA. He

1513
01:09:05,840 --> 01:09:07,880
Speaker 4: closed on a four plex in near usc And that

1514
01:09:08,040 --> 01:09:12,280
Speaker 4: was my first success story outside of myself. And from

1515
01:09:12,320 --> 01:09:14,759
Speaker 4: there I just started teaching it to more and more people.

1516
01:09:15,640 --> 01:09:18,360
Speaker 4: And I just knew that people needed this information in

1517
01:09:18,439 --> 01:09:22,200
Speaker 4: this education. And while multi family real estate investing it

1518
01:09:22,360 --> 01:09:26,000
Speaker 4: looks similar to single family purchasing on the surface, there's

1519
01:09:26,080 --> 01:09:27,760
Speaker 4: just so many more nuances that you need to know

1520
01:09:27,840 --> 01:09:30,840
Speaker 4: to make sure that you buy right. And so I

1521
01:09:30,880 --> 01:09:34,880
Speaker 4: started the multifamily movement. It was July twenty nineteen, and

1522
01:09:35,000 --> 01:09:38,760
Speaker 4: today we've helped two hundred and sixty one sixty two people. Actually, yeah,

1523
01:09:38,800 --> 01:09:41,880
Speaker 4: somebody just closed yesterday on multi family real estate all

1524
01:09:41,920 --> 01:09:44,679
Speaker 4: across the country. And the thing about the multi family

1525
01:09:44,720 --> 01:09:48,240
Speaker 4: movement that's different is that I realized that and I

1526
01:09:48,320 --> 01:09:50,720
Speaker 4: think you all say this information is on us, the

1527
01:09:50,800 --> 01:09:54,559
Speaker 4: executions on you. I realized that I'm not actually selling

1528
01:09:54,640 --> 01:09:58,400
Speaker 4: them information. What I'm giving them is an accountability structure

1529
01:09:58,439 --> 01:10:00,639
Speaker 4: and a system to make sure that they implement the information.

1530
01:10:01,320 --> 01:10:04,519
Speaker 4: And so we have market meetups like you talk about

1531
01:10:04,560 --> 01:10:06,800
Speaker 4: with the EYO community. We have market meetups where you're

1532
01:10:06,800 --> 01:10:09,320
Speaker 4: actually connecting with other members. You have a buddy in

1533
01:10:09,360 --> 01:10:12,360
Speaker 4: the program. We have our weekly coaching calls. It's all

1534
01:10:12,360 --> 01:10:14,640
Speaker 4: about the accountability and the structure to make sure that

1535
01:10:14,720 --> 01:10:17,680
Speaker 4: you implement the information. We know better, but we just

1536
01:10:17,800 --> 01:10:19,759
Speaker 4: don't always do better. We got books on our shows

1537
01:10:19,760 --> 01:10:21,439
Speaker 4: that we intended to read to change some aspect of

1538
01:10:21,479 --> 01:10:23,639
Speaker 4: our lives. The information is there. You wanted to lose

1539
01:10:23,680 --> 01:10:26,559
Speaker 4: weight last year. There's free videos on YouTube. Hit trainings

1540
01:10:26,600 --> 01:10:30,040
Speaker 4: on YouTube, there's free recipes on Google. The information was there,

1541
01:10:30,360 --> 01:10:32,880
Speaker 4: but there was still something blocking you from actually getting

1542
01:10:32,920 --> 01:10:36,120
Speaker 4: to the finish line. And so I realized that because

1543
01:10:36,160 --> 01:10:38,519
Speaker 4: only seven percent of people complete online courses when left

1544
01:10:38,600 --> 01:10:40,760
Speaker 4: up to their own devices. And so that's what our

1545
01:10:40,800 --> 01:10:43,120
Speaker 4: commitment is, and that's what I'm trying to push on

1546
01:10:43,320 --> 01:10:46,920
Speaker 4: all of us because we are teaching liberation arts education.

1547
01:10:47,240 --> 01:10:49,519
Speaker 4: What was shoved down our throat was liberal arts education.

1548
01:10:49,600 --> 01:10:51,800
Speaker 4: Liberal arts education will cost you. I don't need to

1549
01:10:51,880 --> 01:10:54,479
Speaker 4: know anything about Shakespeare. I don't care about Shakespeare, right,

1550
01:10:54,760 --> 01:10:57,800
Speaker 4: but liberation arts education will free you. And what we

1551
01:10:57,960 --> 01:11:00,560
Speaker 4: have right now, what's happening, and you are all spearheading

1552
01:11:00,640 --> 01:11:04,200
Speaker 4: this movement is liberation arts education. When people know these things,

1553
01:11:04,479 --> 01:11:05,479
Speaker 4: they can get free.

1554
01:11:06,120 --> 01:11:06,240
Speaker 8: Right.

1555
01:11:06,520 --> 01:11:08,920
Speaker 4: But it's not just about the information, it's about how

1556
01:11:08,960 --> 01:11:10,920
Speaker 4: do we make sure that they implement the information. Because

1557
01:11:11,080 --> 01:11:13,879
Speaker 4: they implement one of ean strategies, want to trapper strategies,

1558
01:11:14,040 --> 01:11:16,120
Speaker 4: one of your strategies, one of my strategy, one of

1559
01:11:16,160 --> 01:11:18,200
Speaker 4: mass strategies. When they implement these things, we know that

1560
01:11:18,360 --> 01:11:20,800
Speaker 4: they're they're not only their lives, but their families lives

1561
01:11:20,800 --> 01:11:21,559
Speaker 4: will be changed forever.

1562
01:11:22,960 --> 01:11:24,760
Speaker 3: So and you know, It's one of these things that's

1563
01:11:24,800 --> 01:11:27,439
Speaker 3: interesting because I always said, like, you know, real estate,

1564
01:11:27,520 --> 01:11:29,519
Speaker 3: not that they teach in college, but they actually start

1565
01:11:29,560 --> 01:11:32,719
Speaker 3: starting and teaching card. I think it's actually because there's

1566
01:11:32,800 --> 01:11:36,400
Speaker 3: so many online education but like NYU has a real

1567
01:11:36,520 --> 01:11:38,840
Speaker 3: estate program, but n why you call sixty thousand dollars

1568
01:11:38,840 --> 01:11:39,439
Speaker 3: a year fact.

1569
01:11:39,800 --> 01:11:41,600
Speaker 7: So it's like, hey, I'm not really even show what.

1570
01:11:41,600 --> 01:11:44,280
Speaker 3: They're teaching in their real estate program, but you're paying

1571
01:11:44,360 --> 01:11:47,439
Speaker 3: sixty thousand dollars a year. And that's the beauty of

1572
01:11:47,560 --> 01:11:51,000
Speaker 3: online education where it's like, directly, this is what I

1573
01:11:51,040 --> 01:11:53,040
Speaker 3: want to know. You don't have to go through everything

1574
01:11:53,120 --> 01:11:55,240
Speaker 3: else that comes with that, right, you know, because you

1575
01:11:55,400 --> 01:11:57,920
Speaker 3: just can't take real estate. You got to take math

1576
01:11:58,160 --> 01:12:02,479
Speaker 3: and science and other stuff. Even in college you still

1577
01:12:02,479 --> 01:12:04,160
Speaker 3: gotta take all the other stuff and be there for

1578
01:12:04,240 --> 01:12:06,600
Speaker 3: four years where it's like you can actually implement this

1579
01:12:06,840 --> 01:12:09,760
Speaker 3: in six months a year, you know, be in a

1580
01:12:09,800 --> 01:12:13,600
Speaker 3: position to actually execute. And it's like mentorship, yeah in

1581
01:12:13,680 --> 01:12:15,519
Speaker 3: a sense right where you're like you're part of a community.

1582
01:12:15,600 --> 01:12:18,559
Speaker 3: You have you know, meetings and online zoom call stuff

1583
01:12:18,600 --> 01:12:20,920
Speaker 3: like that. You know, people always ask like, you know,

1584
01:12:21,040 --> 01:12:23,360
Speaker 3: can I get mentored? Well, that's kind of like the

1585
01:12:23,439 --> 01:12:26,160
Speaker 3: online communities have turned to the mentorship.

1586
01:12:25,760 --> 01:12:28,800
Speaker 4: Exactly one hundred percent. I don't have the capacity to

1587
01:12:28,880 --> 01:12:30,840
Speaker 4: do one on one. I have too many people to free, right.

1588
01:12:31,160 --> 01:12:33,080
Speaker 4: But if I can create a community of people who

1589
01:12:33,160 --> 01:12:35,800
Speaker 4: were supporting each other on this singular journey, which is

1590
01:12:35,800 --> 01:12:38,519
Speaker 4: to acquire multifamily real estate, then I know that you're

1591
01:12:38,520 --> 01:12:42,759
Speaker 4: gonna get to your ultimate destination and get free. Harriet Tubman,

1592
01:12:42,880 --> 01:12:44,880
Speaker 4: she didn't take people one at a time. She made

1593
01:12:45,000 --> 01:12:47,280
Speaker 4: nineteen trips below the Mason Dixon line, and she took

1594
01:12:47,360 --> 01:12:49,280
Speaker 4: cohorts of people. That's how she freed three hundred people.

1595
01:12:49,280 --> 01:12:51,760
Speaker 4: That's why my first focus is three hundred people. She

1596
01:12:51,840 --> 01:12:53,840
Speaker 4: took cohorts of people. She didn't have time to take

1597
01:12:53,920 --> 01:12:56,280
Speaker 4: one person at the time, right, You had to take

1598
01:12:56,400 --> 01:12:59,400
Speaker 4: groups of people. And so that's what we're able to create.

1599
01:12:59,439 --> 01:13:01,880
Speaker 4: And I think the pandemic actually pushed us online in

1600
01:13:02,000 --> 01:13:06,000
Speaker 4: that way. And when I look at Investmast, when I

1601
01:13:06,040 --> 01:13:08,360
Speaker 4: look at you all traveling in different cities. We're also

1602
01:13:08,439 --> 01:13:11,120
Speaker 4: making sure that the online is complemented with the offline

1603
01:13:11,160 --> 01:13:13,600
Speaker 4: experience so that people can build real relationship, not just

1604
01:13:13,680 --> 01:13:17,880
Speaker 4: profile pictures, but real relationships. Because we know that collaboration

1605
01:13:18,080 --> 01:13:19,760
Speaker 4: over competition is where it's at.

1606
01:13:19,920 --> 01:13:20,880
Speaker 5: Yeah, I was staying in my mind.

1607
01:13:20,880 --> 01:13:23,120
Speaker 8: I was sticking inside of the community because what we

1608
01:13:23,160 --> 01:13:26,800
Speaker 8: talked about a lot, we had group economics, group economics. Yeah,

1609
01:13:27,240 --> 01:13:28,760
Speaker 8: if I didn't have the fund or if I didn't

1610
01:13:28,760 --> 01:13:31,200
Speaker 8: have the finance, are you seeing people working together to say, look,

1611
01:13:31,240 --> 01:13:32,640
Speaker 8: I have this, I have that, let's come together to

1612
01:13:32,640 --> 01:13:33,600
Speaker 8: get this property inside of it.

1613
01:13:33,760 --> 01:13:36,200
Speaker 4: Yeah. So half the members of the buy Back Band

1614
01:13:36,280 --> 01:13:38,479
Speaker 4: Rouge Fund, there's about four hundred and sixty one of

1615
01:13:38,560 --> 01:13:41,759
Speaker 4: us who invested. They all came from the multi family movement.

1616
01:13:41,960 --> 01:13:44,559
Speaker 4: So not only are they working on getting their first property,

1617
01:13:44,640 --> 01:13:47,120
Speaker 4: but any other additional capital that they had, they decided

1618
01:13:47,160 --> 01:13:50,160
Speaker 4: to invest in a larger fund where we're developing over

1619
01:13:50,200 --> 01:13:53,360
Speaker 4: one hundred units out in Baton Rouge, Louisiana. So yeah,

1620
01:13:53,800 --> 01:13:56,080
Speaker 4: and that comes from the trust of the community, and

1621
01:13:56,160 --> 01:13:58,160
Speaker 4: that comes from working together that what that allows us

1622
01:13:58,200 --> 01:14:01,160
Speaker 4: to do is buy bigger properties at AUNT. It's like, Okay,

1623
01:14:01,200 --> 01:14:02,680
Speaker 4: we're gonna put our money together and we're gonna go

1624
01:14:02,720 --> 01:14:05,280
Speaker 4: to costco. Right, but we're not buying ketchup now, we're

1625
01:14:05,280 --> 01:14:09,200
Speaker 4: buying real estate at a discount. So that's the power

1626
01:14:09,360 --> 01:14:12,200
Speaker 4: of group economics, like we paid lip service to it,

1627
01:14:12,320 --> 01:14:17,080
Speaker 4: but you know, myself and Anthony Kimball, Chris, we know

1628
01:14:17,240 --> 01:14:21,120
Speaker 4: people have executed the crowdfunding methodology and it's really powerful

1629
01:14:21,160 --> 01:14:23,720
Speaker 4: when done right because everybody can participate at the level

1630
01:14:23,760 --> 01:14:26,200
Speaker 4: that they feel comfortable. Like everybody is a needed thirty

1631
01:14:26,200 --> 01:14:29,000
Speaker 4: thousand dollars down payment. Right, people can say I'm putting

1632
01:14:29,040 --> 01:14:31,000
Speaker 4: in a thousand dollars and it's still going to multiply

1633
01:14:31,080 --> 01:14:32,599
Speaker 4: it at the same rate. It's just not as much

1634
01:14:32,640 --> 01:14:36,160
Speaker 4: money in. So that's the power of the crowdfunding methodology.

1635
01:14:36,439 --> 01:14:39,080
Speaker 3: So I know you and MG shout out to our partner,

1636
01:14:39,200 --> 01:14:41,560
Speaker 3: MG the Mortgage Guy. MG the Mortgage Guy has what

1637
01:14:41,680 --> 01:14:44,120
Speaker 3: I call the Encyclopedia for real estate with his Home

1638
01:14:44,200 --> 01:14:47,600
Speaker 3: by Blueprint one and two with literally like everything you

1639
01:14:47,720 --> 01:14:50,880
Speaker 3: need to know about buying a home and refinancing a

1640
01:14:51,000 --> 01:14:53,120
Speaker 3: home and two o three k LANs. All of that

1641
01:14:53,280 --> 01:14:56,280
Speaker 3: is really like an encyclopedia. And he put together a

1642
01:14:56,360 --> 01:14:58,439
Speaker 3: great body of work for the Volume one and the

1643
01:14:58,560 --> 01:15:02,439
Speaker 3: Volume two. And then we talked about your multifamily movement.

1644
01:15:02,600 --> 01:15:06,720
Speaker 3: So you guys actually combined forces, yes, right, and you

1645
01:15:06,960 --> 01:15:10,559
Speaker 3: put together a Black Friday deal which was wildly popular,

1646
01:15:10,720 --> 01:15:15,519
Speaker 3: wildly successful. So we're gonna have that same offer for

1647
01:15:15,720 --> 01:15:20,040
Speaker 3: EYL for anybody that's interested in. The website is www

1648
01:15:20,280 --> 01:15:23,960
Speaker 3: dot get four three two one dot com. We'll put

1649
01:15:24,000 --> 01:15:26,759
Speaker 3: the link in the description of this video and audio

1650
01:15:26,800 --> 01:15:30,920
Speaker 3: and then also on the alumni tab also. So once again,

1651
01:15:31,400 --> 01:15:36,439
Speaker 3: that is actually a combination of MG the Mortgage Guys

1652
01:15:36,960 --> 01:15:41,080
Speaker 3: Volume one, Volume two, home Boys Blueprint, and the multifamily

1653
01:15:41,439 --> 01:15:45,920
Speaker 3: movement community, which, as he said, includes you know, weekly

1654
01:15:46,120 --> 01:15:48,519
Speaker 3: calls and you know, all of the things that you

1655
01:15:48,680 --> 01:15:51,759
Speaker 3: need to get up and running to actually have the confidence,

1656
01:15:51,800 --> 01:15:55,400
Speaker 3: the knowledge, the information and the support to actually, you know,

1657
01:15:55,520 --> 01:15:58,080
Speaker 3: not just purchase one home, but you know, become a.

1658
01:15:58,120 --> 01:15:59,600
Speaker 7: Real estate mogul. Why not?

1659
01:16:00,080 --> 01:16:00,880
Speaker 5: This is their purple tap.

1660
01:16:01,120 --> 01:16:05,160
Speaker 3: Yeah, So the total the whole combin I believe it's

1661
01:16:05,200 --> 01:16:08,720
Speaker 3: a seventy seven percent off of the total value. So

1662
01:16:08,960 --> 01:16:12,839
Speaker 3: seventy seven percent off of the total value. And literally, honestly,

1663
01:16:12,880 --> 01:16:16,080
Speaker 3: because I'm familiar with both of the situations, there's nothing

1664
01:16:16,120 --> 01:16:18,400
Speaker 3: else that you really need in real estate, like especially

1665
01:16:18,600 --> 01:16:22,120
Speaker 3: if you doing the multifamily home. This is literally like

1666
01:16:22,479 --> 01:16:25,200
Speaker 3: the equivalent of going to college.

1667
01:16:26,600 --> 01:16:28,120
Speaker 5: I mean, there's no cap on that.

1668
01:16:28,200 --> 01:16:30,879
Speaker 8: Like I really went through Mats course rot the assessments

1669
01:16:30,920 --> 01:16:32,839
Speaker 8: for watched every video was incredible.

1670
01:16:33,200 --> 01:16:35,040
Speaker 5: Then I got to watch you guys, and I said,

1671
01:16:35,120 --> 01:16:36,960
Speaker 5: oh is it? He is the game?

1672
01:16:37,120 --> 01:16:38,000
Speaker 4: Yeah, this is the game.

1673
01:16:38,760 --> 01:16:41,000
Speaker 8: That's a tremendous deservice if you're not involving it. So yeah,

1674
01:16:41,040 --> 01:16:42,320
Speaker 8: congrats on it as.

1675
01:16:42,240 --> 01:16:44,920
Speaker 4: Incredible, appreciate that. So Matt and I we've been running

1676
01:16:44,960 --> 01:16:47,240
Speaker 4: parallel pass with quite some time. He's helped about he's

1677
01:16:47,280 --> 01:16:50,400
Speaker 4: financed about half of the multi family movement members through

1678
01:16:50,600 --> 01:16:52,680
Speaker 4: the Garland Group, and we said, we just have to

1679
01:16:52,720 --> 01:16:56,439
Speaker 4: formalize this partnership, and so we are committed to actually

1680
01:16:56,520 --> 01:16:58,600
Speaker 4: taking another three hundred people to the finish line this

1681
01:16:58,760 --> 01:17:00,720
Speaker 4: year in terms of multi family the state. And so

1682
01:17:01,520 --> 01:17:04,160
Speaker 4: this is what the collaboration has come to get. Four

1683
01:17:04,200 --> 01:17:06,040
Speaker 4: three two one is how you can get ten doors

1684
01:17:06,080 --> 01:17:08,880
Speaker 4: in four years using FHA several times and running the

1685
01:17:08,920 --> 01:17:11,080
Speaker 4: plays that we tell you to run. If you follow

1686
01:17:11,120 --> 01:17:14,400
Speaker 4: the blueprint, you can't go wrong. And so yeah, we're

1687
01:17:14,400 --> 01:17:17,400
Speaker 4: excited about it. People are already getting wins inside of

1688
01:17:17,439 --> 01:17:19,599
Speaker 4: the program. So we want to take as many people

1689
01:17:19,640 --> 01:17:21,479
Speaker 4: because it's not just about one property. One property should

1690
01:17:21,479 --> 01:17:23,280
Speaker 4: get you to rent mortgage freedom. But we're trying to

1691
01:17:23,320 --> 01:17:24,960
Speaker 4: get you to full freedom, and you're gonna need multiple

1692
01:17:25,000 --> 01:17:25,840
Speaker 4: doors in order to get there.

1693
01:17:26,120 --> 01:17:29,160
Speaker 3: Yeah, And like I said, real liud testimony, Matt personally

1694
01:17:29,240 --> 01:17:32,439
Speaker 3: told me he was like these people in Julian's program, Man.

1695
01:17:32,560 --> 01:17:34,760
Speaker 7: They flooding me. They flooded me.

1696
01:17:34,880 --> 01:17:36,600
Speaker 3: But like I said, that's a good thing because that

1697
01:17:36,720 --> 01:17:40,320
Speaker 3: means that they're actually purchasing homes. So if you want

1698
01:17:40,360 --> 01:17:43,120
Speaker 3: to take that next step and really, you know, get

1699
01:17:43,160 --> 01:17:47,080
Speaker 3: your freedom, highly highly suggests checking it out. And like

1700
01:17:47,160 --> 01:17:49,240
Speaker 3: I said, you know, special offer for all the earners.

1701
01:17:49,240 --> 01:17:52,680
Speaker 3: Anybody that's interested in anybody listening to this get four

1702
01:17:52,800 --> 01:17:56,080
Speaker 3: three two one dot com appreciate that, brother, before you leave.

1703
01:17:56,120 --> 01:17:59,320
Speaker 7: I got a I got a few more questions. One

1704
01:17:59,360 --> 01:17:59,879
Speaker 7: in particular.

1705
01:18:00,439 --> 01:18:04,640
Speaker 3: So we had another gentleman on the podcast that you know,

1706
01:18:05,160 --> 01:18:08,479
Speaker 3: people may be familiar with, Grant Cardon, and he has

1707
01:18:08,479 --> 01:18:12,160
Speaker 3: an interest in philosophy where his thing is rent where

1708
01:18:12,240 --> 01:18:15,240
Speaker 3: you live and invest in real estate.

1709
01:18:15,400 --> 01:18:19,360
Speaker 7: But where you live rent that. How do you feel

1710
01:18:19,360 --> 01:18:19,680
Speaker 7: about that?

1711
01:18:20,000 --> 01:18:20,160
Speaker 3: Man?

1712
01:18:20,200 --> 01:18:24,679
Speaker 4: I've thought about that and I don't agree. I don't agree,

1713
01:18:24,720 --> 01:18:28,240
Speaker 4: and that's okay. Grant has a different perspective on real

1714
01:18:28,360 --> 01:18:32,320
Speaker 4: estate and money. He's able to write off his lifestyle

1715
01:18:32,360 --> 01:18:34,880
Speaker 4: grant is an LLC. Not everybody's operating as an LLC.

1716
01:18:35,080 --> 01:18:37,800
Speaker 4: So he's able to expense everything that he does. So

1717
01:18:37,880 --> 01:18:39,840
Speaker 4: if he goes and stays for five thousand dollars a

1718
01:18:39,920 --> 01:18:42,519
Speaker 4: night condo in Miami, he's able to write that off.

1719
01:18:42,720 --> 01:18:44,920
Speaker 4: The average person doesn't set up structurally or doesn't have

1720
01:18:44,920 --> 01:18:48,040
Speaker 4: the accounting team to ensure that that all gets written off.

1721
01:18:48,080 --> 01:18:54,040
Speaker 4: And so be careful because these platitudes that people put out,

1722
01:18:54,200 --> 01:18:55,720
Speaker 4: if you don't know the back end in terms of

1723
01:18:55,760 --> 01:18:59,120
Speaker 4: how to actually execute it, it may not work for you. Yeah,

1724
01:18:59,160 --> 01:19:01,120
Speaker 4: it ain't gonna look the same. What I do know

1725
01:19:01,680 --> 01:19:04,960
Speaker 4: is that for multifamily real estate, if you are literally

1726
01:19:05,000 --> 01:19:06,400
Speaker 4: able to get rid of your housing expense for the

1727
01:19:06,400 --> 01:19:07,800
Speaker 4: rest of your life, it will guarantee that you and

1728
01:19:07,840 --> 01:19:09,040
Speaker 4: your family are millionaires.

1729
01:19:09,400 --> 01:19:09,519
Speaker 7: Right.

1730
01:19:09,840 --> 01:19:13,000
Speaker 4: That's simpler and plain. One thousand dollars a month.

1731
01:19:13,320 --> 01:19:13,439
Speaker 5: Right.

1732
01:19:13,560 --> 01:19:15,559
Speaker 4: If you were able to, say one thousand dollars a month,

1733
01:19:15,720 --> 01:19:17,120
Speaker 4: and you were able to invest at at just six

1734
01:19:17,200 --> 01:19:20,120
Speaker 4: percent annually for the next thirty years, that's one million,

1735
01:19:20,439 --> 01:19:23,360
Speaker 4: fifteen thousand, five hundred and ninety dollars. If we just

1736
01:19:23,400 --> 01:19:25,120
Speaker 4: did this one thing. I'm not asking you to pick

1737
01:19:25,160 --> 01:19:27,040
Speaker 4: the right crypto. I'm not asking you to go find

1738
01:19:27,040 --> 01:19:28,680
Speaker 4: the right of NFT. I'm not even asking you to

1739
01:19:28,760 --> 01:19:31,639
Speaker 4: find the next company that's going to break through in stocks.

1740
01:19:32,200 --> 01:19:34,680
Speaker 4: Just literally get rid of your housing expense and that

1741
01:19:34,720 --> 01:19:37,599
Speaker 4: will ensure that your family become a millionaire. So that's

1742
01:19:37,760 --> 01:19:39,880
Speaker 4: that's been the focus, that's been my lane in this

1743
01:19:40,000 --> 01:19:42,840
Speaker 4: whole revolution. And I know that once people have that

1744
01:19:43,000 --> 01:19:46,000
Speaker 4: particular thing established, then it frees them up to take

1745
01:19:46,040 --> 01:19:47,960
Speaker 4: advantage of all the other opportunities that are available.

1746
01:19:48,160 --> 01:19:50,360
Speaker 8: When you were speaking about the property earlier, when you

1747
01:19:50,400 --> 01:19:53,320
Speaker 8: did the math and how it created till one point five, yeah,

1748
01:19:53,720 --> 01:19:55,599
Speaker 8: I'm thinking to myself, is this the property talking about

1749
01:19:55,600 --> 01:19:57,639
Speaker 8: how you had a million dollars in real estate by

1750
01:19:57,720 --> 01:19:58,559
Speaker 8: starting with ten thousand.

1751
01:19:58,600 --> 01:20:01,160
Speaker 5: It's the same situation in the situation, okay, gotcha.

1752
01:20:00,880 --> 01:20:04,240
Speaker 4: The same situation. It just you have to run. It's

1753
01:20:04,320 --> 01:20:06,360
Speaker 4: knowing the numbers. It's knowing the numbers. When you see

1754
01:20:06,400 --> 01:20:08,640
Speaker 4: that number, those numbers play out like that. It's just

1755
01:20:08,720 --> 01:20:12,439
Speaker 4: like everything I get. I'm dumping into it because this

1756
01:20:12,600 --> 01:20:15,080
Speaker 4: is an asset that is passive. Also, it's not like

1757
01:20:15,120 --> 01:20:17,240
Speaker 4: I created an active business. Perhaps my daughter doesn't want

1758
01:20:17,240 --> 01:20:19,599
Speaker 4: to take over this kind of business that I created

1759
01:20:19,640 --> 01:20:22,160
Speaker 4: over here. Perhaps she's not interested in that, but this

1760
01:20:22,320 --> 01:20:24,719
Speaker 4: can always be managed by a property manager that takes

1761
01:20:24,920 --> 01:20:26,599
Speaker 4: six to ten percent of the rents forever.

1762
01:20:27,320 --> 01:20:30,439
Speaker 3: Yeah, it's extremely important, especially the gentrification because it's like

1763
01:20:31,040 --> 01:20:32,720
Speaker 3: so many different places. You see, Like we was in

1764
01:20:32,960 --> 01:20:34,640
Speaker 3: La Shout Out my Boys, stick Watch. He took us

1765
01:20:34,680 --> 01:20:36,960
Speaker 3: to Watts and I think it was the Jordan's down

1766
01:20:37,040 --> 01:20:39,680
Speaker 3: projects like Grape Street, and I was looking at I'm like,

1767
01:20:40,320 --> 01:20:42,200
Speaker 3: this doesn't really look like how I looked before. You

1768
01:20:42,240 --> 01:20:45,519
Speaker 3: can still see that this project, but there's also town homes. Yeah,

1769
01:20:46,000 --> 01:20:48,040
Speaker 3: so yeah, what I found out is that they're actually

1770
01:20:48,080 --> 01:20:50,439
Speaker 3: in the transition I believe, of tearing down the projects

1771
01:20:50,479 --> 01:20:52,559
Speaker 3: and turning them into town and town homes actually look

1772
01:20:52,600 --> 01:20:54,880
Speaker 3: really nice. They look like state of the art. Yeah,

1773
01:20:54,920 --> 01:20:56,880
Speaker 3: they're like really dope. So he was telling me like, yeah,

1774
01:20:56,960 --> 01:20:59,200
Speaker 3: you know, all of these are new, like within the

1775
01:20:59,320 --> 01:21:02,080
Speaker 3: last couple of years. So I say that to say,

1776
01:21:02,520 --> 01:21:05,040
Speaker 3: same story, no matter whether you're in New York.

1777
01:21:05,080 --> 01:21:07,799
Speaker 5: That's part of that story. What who landed on the helicopter?

1778
01:21:08,720 --> 01:21:08,920
Speaker 7: Huh?

1779
01:21:09,160 --> 01:21:09,599
Speaker 5: He said.

1780
01:21:11,520 --> 01:21:11,800
Speaker 7: Trump?

1781
01:21:11,960 --> 01:21:15,040
Speaker 5: Right, Trump landed his helicopter right in the middle of

1782
01:21:15,080 --> 01:21:15,519
Speaker 5: the grounds.

1783
01:21:15,600 --> 01:21:18,200
Speaker 3: Like no, but No, that was where they built the

1784
01:21:18,520 --> 01:21:21,679
Speaker 3: strip right down street, the strip malls where he landed

1785
01:21:21,760 --> 01:21:23,840
Speaker 3: hel So that was another thing. So like, yeah, I

1786
01:21:23,840 --> 01:21:27,800
Speaker 3: guess there was like just vacant landing. So Trump he

1787
01:21:27,880 --> 01:21:31,000
Speaker 3: said he came, he landed the helicopter. He was like, yes,

1788
01:21:31,000 --> 01:21:31,840
Speaker 3: it's pretty messed up.

1789
01:21:31,880 --> 01:21:32,040
Speaker 10: Man.

1790
01:21:33,640 --> 01:21:35,559
Speaker 7: He was like, what y'all need that? And they left.

1791
01:21:35,600 --> 01:21:38,040
Speaker 3: So long story short, I guess they got some government funds.

1792
01:21:38,080 --> 01:21:39,560
Speaker 3: So now they got a strip mall. They got a

1793
01:21:39,560 --> 01:21:43,160
Speaker 3: strip mall, they got luxury town homes that's being built.

1794
01:21:43,160 --> 01:21:46,439
Speaker 3: And this is right next to next Jordan. For perspective, Jordan,

1795
01:21:46,560 --> 01:21:48,240
Speaker 3: if you heard of like Great Street, I'm pretty sure

1796
01:21:48,240 --> 01:21:51,439
Speaker 3: you heard that pretty famous Minutes to Society. That's where

1797
01:21:51,479 --> 01:21:52,840
Speaker 3: Minutes of Society was filmed.

1798
01:21:53,439 --> 01:21:55,559
Speaker 5: So white man can't jump out of scene over.

1799
01:21:55,800 --> 01:22:01,960
Speaker 7: It's one of these things with gentrification always happens. It

1800
01:22:02,120 --> 01:22:02,800
Speaker 7: always happens.

1801
01:22:03,000 --> 01:22:04,840
Speaker 8: It's got to be you had to have the vision

1802
01:22:04,880 --> 01:22:06,240
Speaker 8: to see it, you know what I'm saying, Like we

1803
01:22:06,320 --> 01:22:08,280
Speaker 8: see these things. Yeah, yeah, like people most people say, oh,

1804
01:22:08,280 --> 01:22:11,680
Speaker 8: there's a new Starbucks. Oh there's a five luxury car dealerships. Wait,

1805
01:22:11,760 --> 01:22:17,360
Speaker 8: Chipotle said, waiting, Yeah, they put a golf shopping to like, yeah,

1806
01:22:17,439 --> 01:22:19,439
Speaker 8: these are all the signs that there's money Tesla's now

1807
01:22:19,479 --> 01:22:20,640
Speaker 8: in your neighborhood.

1808
01:22:20,240 --> 01:22:23,080
Speaker 4: Right right, right, But let me explain something really quickly.

1809
01:22:23,160 --> 01:22:27,360
Speaker 4: So what we've been calling gentrification is actually colonization. So

1810
01:22:27,640 --> 01:22:30,200
Speaker 4: gentrification is actually a good thing. It is actually the

1811
01:22:30,360 --> 01:22:32,920
Speaker 4: upliftment of our community. If you look at the dictionary definition,

1812
01:22:32,960 --> 01:22:35,840
Speaker 4: it's actually the upliftment of community. So in Brooklyn, there's

1813
01:22:35,880 --> 01:22:37,880
Speaker 4: a block known as the greenest block in Brooklyn. Right,

1814
01:22:38,600 --> 01:22:41,600
Speaker 4: these are all black owners. And because they decided to

1815
01:22:42,080 --> 01:22:45,320
Speaker 4: plant gardens in the front I think on Macon Street

1816
01:22:45,400 --> 01:22:47,759
Speaker 4: in Brooklyn and best I So because they all decided

1817
01:22:47,800 --> 01:22:49,960
Speaker 4: to plant gardens, they collectedly came together, we're gonna plant gardens.

1818
01:22:49,960 --> 01:22:51,920
Speaker 4: We're gonna all do the facize of our homes. Guess what,

1819
01:22:52,200 --> 01:22:55,280
Speaker 4: they all force appreciation, their equity all went up. But

1820
01:22:55,320 --> 01:22:57,280
Speaker 4: it's a block of all black owners. So they gentrified

1821
01:22:57,320 --> 01:23:00,200
Speaker 4: their own block. What we've been calling gentrification. That see

1822
01:23:00,240 --> 01:23:03,479
Speaker 4: colonization and colonization is when outsiders come in and try

1823
01:23:03,520 --> 01:23:07,640
Speaker 4: to displace the natives of that neighborhood intentionally. So colonization

1824
01:23:07,840 --> 01:23:09,719
Speaker 4: is it has attended to it, right, has a negative

1825
01:23:09,760 --> 01:23:11,879
Speaker 4: history to it. But that's actually what has been occurring.

1826
01:23:12,000 --> 01:23:15,000
Speaker 4: When you have people come into the Shaw in DC

1827
01:23:15,360 --> 01:23:17,240
Speaker 4: and you have people complaining about the music that's been

1828
01:23:17,240 --> 01:23:20,320
Speaker 4: played in the Shaw for thirty years, then that's colonization

1829
01:23:20,400 --> 01:23:22,439
Speaker 4: that is seeking to happen because you're trying to displace

1830
01:23:22,479 --> 01:23:24,439
Speaker 4: the culture that is there. So we need to call

1831
01:23:24,479 --> 01:23:27,439
Speaker 4: a spade a spade. If it's colonization, is colonization. But

1832
01:23:27,560 --> 01:23:29,800
Speaker 4: gentrification is actually the uplifting. I want the hood to

1833
01:23:29,840 --> 01:23:32,000
Speaker 4: look better. I don't want the hood to be the

1834
01:23:32,080 --> 01:23:35,040
Speaker 4: hood forever. I want everybody to have higher quality standard

1835
01:23:35,040 --> 01:23:37,720
Speaker 4: of living. And yes there are some costs associated with that.

1836
01:23:38,040 --> 01:23:40,040
Speaker 4: The rents might actually have to increase for you to

1837
01:23:40,160 --> 01:23:42,880
Speaker 4: live in a decent way, and so we all have

1838
01:23:42,960 --> 01:23:46,240
Speaker 4: to step our game up. But gentrification is not the negative.

1839
01:23:46,280 --> 01:23:48,360
Speaker 4: Thing is the colonization, and we just haven't been calling it.

1840
01:23:48,439 --> 01:23:51,200
Speaker 8: So centrifile your hood before those people do it, claim

1841
01:23:51,280 --> 01:23:52,240
Speaker 8: imminent domain.

1842
01:23:52,040 --> 01:23:55,760
Speaker 5: And what have you? People moving the facts this was doing.

1843
01:23:55,920 --> 01:23:57,679
Speaker 4: Yeah it wasn't what he was doing.

1844
01:23:58,120 --> 01:24:01,320
Speaker 3: Yeah, well it's been a pleasure, my brother. How can

1845
01:24:01,360 --> 01:24:04,040
Speaker 3: the people follow you? Social media handles, anything else that

1846
01:24:04,120 --> 01:24:06,080
Speaker 3: you want to lead before we head out yeah, so

1847
01:24:06,520 --> 01:24:09,160
Speaker 3: rent free dot com, Rent free dot com. If you

1848
01:24:09,200 --> 01:24:10,639
Speaker 3: want to learn this game, you can go to rent

1849
01:24:10,640 --> 01:24:12,280
Speaker 3: free dot com. I'll show you how to finance find

1850
01:24:12,280 --> 01:24:14,640
Speaker 3: a finalized multifamily real estate deals so that you can

1851
01:24:14,680 --> 01:24:17,400
Speaker 3: close on your first property within the next year. They

1852
01:24:17,439 --> 01:24:19,639
Speaker 3: you have, what's your social media handle, It's Julian Gordon

1853
01:24:19,760 --> 01:24:22,600
Speaker 3: j U L L I E N Gordon g O R.

1854
01:24:22,880 --> 01:24:23,439
Speaker 5: D O N.

1855
01:24:24,000 --> 01:24:27,800
Speaker 3: Yes, and don't forget get four three two one dot com.

1856
01:24:28,400 --> 01:24:31,400
Speaker 3: That is the special offer that him and a brother MG,

1857
01:24:31,520 --> 01:24:37,120
Speaker 3: the mortgage guy together, the mortgage god, everything, everything that

1858
01:24:37,200 --> 01:24:38,880
Speaker 3: you need to know to get up and running and

1859
01:24:39,560 --> 01:24:41,560
Speaker 3: get into this real estate game and really start to

1860
01:24:41,600 --> 01:24:45,559
Speaker 3: make some money. Said, that's a special offer seventy seven

1861
01:24:45,600 --> 01:24:49,120
Speaker 3: percent off the total value of the package, strictly on

1862
01:24:49,240 --> 01:24:52,800
Speaker 3: that website, only on that website. So yeah, thank you

1863
01:24:52,880 --> 01:24:55,280
Speaker 3: for that. Appreciate it, and thank you guys for rock

1864
01:24:55,320 --> 01:24:56,679
Speaker 3: on you anything you want to say.

1865
01:24:57,120 --> 01:25:00,680
Speaker 5: Liberation Arts, we we get that. Yeah.

1866
01:25:00,680 --> 01:25:03,720
Speaker 8: Shout everybody on Uya University, Shout out to the Mergened team,

1867
01:25:03,760 --> 01:25:06,080
Speaker 8: Shout out everybody on page on this is this is

1868
01:25:06,120 --> 01:25:07,880
Speaker 8: one of those I appreciate you coming up by the

1869
01:25:07,920 --> 01:25:08,479
Speaker 8: long over due.

1870
01:25:08,640 --> 01:25:11,360
Speaker 7: Yeah, yeah for sure. Thank you guys for rocking with us.

1871
01:25:11,400 --> 01:25:12,200
Speaker 7: We'll see you next week.

1872
01:25:12,360 --> 01:25:19,280
Speaker 6: Peace my graduates from my school being forced bad drop

1873
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Speaker 6: b Drop, Mike Drop bad drop drop.

1874
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