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Speaker 3: If I'm a buy a home, I want a home.
Speaker 3: I don't want to live. Oh, you have to deal
Speaker 3: with neighbors.
Speaker 4: But you're gonna have to deal with a mortgage. Yeah,
Speaker 4: you either deal with neighbors, you deal with a mortgage.
Speaker 4: And FACHA is only one year living requirement.
Speaker 5: Right.
Speaker 4: So a lot of people the single family dream has
Speaker 4: been pushed to folks, but the American dream it just
Speaker 4: rocked people to sleep. It's actually the American nightmare. Everything
Speaker 4: they tell you to do in the American dream is
Speaker 4: to rock you to sleep. Everything they tell you do
Speaker 4: to go to college, who gets paid off that student
Speaker 4: own interest? The government? They say, go get a high
Speaker 4: paying job. Who gets paid take their money off the
Speaker 4: top the government. Then they say, go get a single
Speaker 4: having home. Who do you have to pay property taxes
Speaker 4: to the government. Everything they told you to do in
Speaker 4: the American dreamer so that they could get paid.
Speaker 6: My graduates from my school being false.
Speaker 4: Back drop drop, Mike, drop, back drop drop.
Speaker 7: All right, guys, welcome back, e y L.
Speaker 3: This is uh, you know, we've been on the road
Speaker 3: for a very long period of time, so this is
Speaker 3: the first time in a while that we actually shoot
Speaker 3: an episode. Yeah for sure. So this is one of
Speaker 3: these episodes that right up our alley as far as
Speaker 3: like how we've started with information, Like we pick a
Speaker 3: topic and then we just get an expert in the
Speaker 3: in the field and give a lot of gyms and information.
Speaker 3: That's kind of been our blueprint since the beginning. And
Speaker 3: we haven't done a real estate episode in a long time.
Speaker 5: Yeah, we've been relegated to our boy MG.
Speaker 3: Yeah, shot rightfully, So no shout out to Matt he's
Speaker 3: killing the game. Make sure you check out Ransom Gyms
Speaker 3: podcast on Eyo Network, top real estate podcast in the game.
Speaker 7: Yeah for sure.
Speaker 3: But you know we talked about stocks of all the time,
Speaker 3: obviously market mondays, but once again, you know, we haven't
Speaker 3: spoken about real estate in a while. In real estate
Speaker 3: is the cornerstone, one of the cornerstones for building wealth
Speaker 3: in his country and all over the world. So I
Speaker 3: say that to say, I thought it would be a
Speaker 3: perfect time to get back on the real estate side
Speaker 3: of things.
Speaker 7: So yes, we do.
Speaker 3: So Julian Gordon, I'm sure you're already familiar with him
Speaker 3: because he's been killing the game for a while online
Speaker 3: social media. He's actually been at investest. He's investment.
Speaker 5: He wasn't just investment. He had a moment right now
Speaker 5: that was that was a moment.
Speaker 3: So if he was at investments, you saw that. And
Speaker 3: then he's been on with the family, Ransom Gyms and
Speaker 3: ash Cash. So Julian is interesting because you know a
Speaker 3: lot of people talk about real estate, but everybody has
Speaker 3: different niches. So his thing is multi family homes.
Speaker 5: Yeah, missed the multi family himself.
Speaker 3: Yes, yes, yes, So he actually is the head of
Speaker 3: the multifamily movement. So he has a program and I
Speaker 3: believe his students here own with four thousand students and
Speaker 3: they have a total of two hundred and sixty two
Speaker 3: closings right of multi family homes one hundred and forty
Speaker 3: closings this year. Matt always says, because I know Matt
Speaker 3: does a lot of financing, he was like, Yo, these
Speaker 3: people in this group is crazy, Like they hit me.
Speaker 3: They hit me every day non stop. But that's a
Speaker 3: good thing because I mean, if they're out hunting for deals,
Speaker 3: they're hungry. So what he does is he teaches people
Speaker 3: about not just how to buy real estate, but specifically
Speaker 3: multifamily homes and multi family homes is something that is
Speaker 3: extremely important, especially like where we live in the Northeast,
Speaker 3: but really different pockets all over the country. And MG
Speaker 3: has spoke about multifamily homes before. Actually when he first
Speaker 3: came on the podcast, that was his whole strategy as
Speaker 3: far as you know, get a multi family and have
Speaker 3: positive cash flow and things of that nature. So we're
Speaker 3: going to have a really interesting, dope conversation about real
Speaker 3: estate multi family homes, and I'm sure there'll be a
Speaker 3: lot of gyms dropped so first and foremost, thank you
Speaker 3: for joining us, brother, appreciate it.
Speaker 4: Here, thank you.
Speaker 8: We missed the amount of funds that have been generated
Speaker 8: from the students. Sixty two million.
Speaker 4: Yeah, it's about sixty two million if you If I
Speaker 4: average each property is about three hundred thousand. Yeah, we
Speaker 4: up there, So I actually seventy five since that number,
Speaker 4: I need to update that number. We were at seventy
Speaker 4: five million and real estate acquired in two years.
Speaker 7: Don't let that go over here. Yeah, so all right,
Speaker 7: let's get into this.
Speaker 3: I want to get into details, Nnie Griddy, but before
Speaker 3: I start, I just want to give an overview of
Speaker 3: how did you get to this point? Because I actually
Speaker 3: just found out something that he was in one of
Speaker 3: the most prestigious business do You graduated from one of
Speaker 3: the most prestigious Brison schools of all, Stanford University. So
Speaker 3: I would assume that originally you was on like a
Speaker 3: business path, maybe even tech path, because a lot of
Speaker 3: people go to Stanford that So what made you get
Speaker 3: into real estate?
Speaker 7: Yeah?
Speaker 4: So I went into business school because I knew I
Speaker 4: wanted to be an entrepreneur. But when you look at
Speaker 4: business school and what actually comes out of it, you
Speaker 4: see a lot of people actually escaping the corporate plantation
Speaker 4: going to business school and then and then to back
Speaker 4: up on the corporate plantation at a higher pay, And
Speaker 4: so it wasn't actually training entrepreneur. Stanford happened to be
Speaker 4: the most entrepreneurial business school out there. So that's why
Speaker 4: I chose Stanford. But everything that I've learned about business
Speaker 4: that has allowed me to create the wealth that I
Speaker 4: have today didn't come from Stanford. It didn't come from
Speaker 4: the marketing class there, It didn't come from the finance
Speaker 4: class there. It came through actually reinvesting back into my
Speaker 4: own education, in my own mind, through coaches, consultants, and
Speaker 4: things of that nature. After But my real estate journey
Speaker 4: actually starts with my mom. She was a doctor, anesthesiologist,
Speaker 4: and she had a good paying job. She was following
Speaker 4: the American dream and she ended up with a mental
Speaker 4: health issue, not anything to her fault whatsoever, and that
Speaker 4: mental health issue caused her to lose her license. And
Speaker 4: once the one single income stream evaporated, then she couldn't
Speaker 4: pay the mortgage on the home that we had in Oakland.
Speaker 4: That home today is worth one point eight million dollars
Speaker 4: and so when I saw somebody who did everything that
Speaker 4: they were supposed to do actually lose it all because
Speaker 4: they were lying on one stream of income, even though
Speaker 4: it was a high stream of income, that made me
Speaker 4: choose a different path. And so in college I read
Speaker 4: Richards That Poor Dad, like many people did, and I
Speaker 4: knew immediately, not only from my own mom's story, but
Speaker 4: from that book that my first property was not going
Speaker 4: to be a single family home, that it would be
Speaker 4: a multi family home. And so I purchased my first
Speaker 4: multi family home in Brooklyn. It was a triplex twenty thirteen.
Speaker 4: And the moment I went from paying expensive rent in
Speaker 4: Brooklyn to being paid expensive rent, the game was over.
Speaker 4: And so you know, as I started trying to go
Speaker 4: deeper into the game, buying another property in Brooklyn was
Speaker 4: challenging because I used FAHA for that first property, but
Speaker 4: the next one will require twenty five percent down, and
Speaker 4: when you have properties that are a million dollars, twenty
Speaker 4: five percent down is going to be a quarter million.
Speaker 4: So I decided to scale my portfolio by investing outside
Speaker 4: of Brooklyn, and that's how I found the New Orleans market,
Speaker 4: and from there I just doubled down and continue to
Speaker 4: scale my portfolio eventually moving down to New Orleans and
Speaker 4: things of that nature.
Speaker 8: So I was wondering because like a lot of people
Speaker 8: will start in real estate, they don't have the fund
Speaker 8: and so, faha was.
Speaker 5: The route you did for your first triples?
Speaker 4: Correct? So three and a half percent down at that
Speaker 4: time the property was like seven hundred thousand, So it
Speaker 4: wasn't major money. I did have to save. I did
Speaker 4: have to discipline myself in order to save that, but
Speaker 4: I made that payment and then from there I haven't
Speaker 4: had a housing expense since May of twenty thirteen.
Speaker 7: How many houses your home now?
Speaker 4: I have forty U sixteen buildings, forty units, but that's
Speaker 4: just my personal portfolio. So forty doors, right, yeah, forty doors, Yeah.
Speaker 7: I to put a post.
Speaker 3: I think like one hundred doors, one hundred, a thousand
Speaker 3: shares a new club, Yeah, a thousand shares, one hundred doors,
Speaker 3: that's something that so you're own halfway there, yeah, halfway.
Speaker 4: There, and then you add in my portion of the
Speaker 4: other funds, I'm probably around eighty when you add in
Speaker 4: those as well. We just closed on a thirty six
Speaker 4: unit in Scotlandville and Baton Rouge, so yeah, so continuing
Speaker 4: to scale up.
Speaker 3: Congratulations, appreciate that, all right, So let's get into some questions.
Speaker 3: So the biggest thing for that stops people from buying
Speaker 3: real estate is money. Yeah, you know, well we'll talk
Speaker 3: about mindset also, but money is definitely a big thing
Speaker 3: and financing. But there are different programs, especially you know,
Speaker 3: we're talking about multi family homes, so yeah, I won't
Speaker 3: talk about a few one that we have not coverage yet,
Speaker 3: which is NAKA.
Speaker 4: Yeah, can you talk about NACA a little bit, man,
Speaker 4: NACA is amazing. NACA is amazing, but it's two sides
Speaker 4: of the coin. You'll hear people say NACA is amazing
Speaker 4: those who have closed, and then you'll hear other people
Speaker 4: say NACA is not amazing. Right, So NAKA is really
Speaker 4: really powerful because zero percent down, no closing costs, no
Speaker 4: points for fees, et cetera, and extremely low interest rates.
Speaker 4: And the key to winning at NACA is making sure
Speaker 4: that your counselor is solid. If your counselor's not solid,
Speaker 4: then it's going to be a difficult journey for you.
Speaker 4: And then it's also your persistence. You have to stay
Speaker 4: on that person. You actually have to lead your counselor
Speaker 4: to get to the finish line. So if you're just
Speaker 4: going to sit back and think that some program is
Speaker 4: literally going to give you a home for nothing and
Speaker 4: you don't actually put in any effort, it's going to
Speaker 4: be a hard road for you. So I've had many
Speaker 4: people closed through my program. See, NACA does the financing,
Speaker 4: but they don't teach you how to find the deal
Speaker 4: or how to finalize the deal. Financing is actually the
Speaker 4: easiest part of the real estate game when you know
Speaker 4: about programs like NAC or faha. So NAKA actually is
Speaker 4: not a program for poor people. So that's actually what
Speaker 4: keeps half the people out is because they have a
Speaker 4: perception that is for people who have low income, and
Speaker 4: it's not. What's powerful about it and why people with
Speaker 4: low income are able to go through the programs because
Speaker 4: there's no credit score consideration, and that's huge for a lot,
Speaker 4: no closing clues, no points or fees payment, and no credit.
Speaker 4: So here's how they verify you. So basically, they take
Speaker 4: whatever you've been paying in rent plus whatever you're able
Speaker 4: to prove that you can save over a three month period.
Speaker 4: So if you're paying twelve hundred dollars a month in
Speaker 4: rent on time consistently, right, and you're able to show
Speaker 4: them that you're able to save an additional three hundred
Speaker 4: dollars a month on top of that, then they'll prove
Speaker 4: you for a mortgage of fifteen hundred dollars, gotcha. So
Speaker 4: that's how they verify your ability to afford the real estate.
Speaker 4: And so NAKA has two tiers of people, they have
Speaker 4: priority and non priority. So priority is anyone who is
Speaker 4: making eighty percent or less of the area's AMI. So
Speaker 4: AMI is the area's median income. So those people are
Speaker 4: able to get interest rates as low as two percent.
Speaker 4: Two percent, that's basically free money when you account for
Speaker 4: inflation being six percent, right, So, and then a non
Speaker 4: priority members who have higher incomes start at three percent.
Speaker 4: But then what NAC actually tells you to do is
Speaker 4: that since you're no longer paying a down payment, why
Speaker 4: don't you buy down these points? Right? And so a
Speaker 4: point is a percentage of your mortgage. So if you
Speaker 4: have a mortgage of three hundred thousand dollars, you could
Speaker 4: pay three thousand dollars one percent of that and actually
Speaker 4: buy down your interest rate. And they have tiers where
Speaker 4: their interest rates when you pay three thousand dollars in advance,
Speaker 4: the bank is taking that three thousand dollars in advance,
Speaker 4: then your interest rate is going down by probably like
Speaker 4: zero point one two five, Right, So you're a quarter,
Speaker 4: not an eighth of a point every time you contribute
Speaker 4: three thousands. So rather than putting that towards the down payment,
Speaker 4: because there is none, you're actually buying down points. So
Speaker 4: you'll see people in NACA have interest rates that are
Speaker 4: less than one percent. And so when you look at
Speaker 4: that over a thirty year period, a decrease in interest
Speaker 4: rate by one percent on a three hundred thousand dollars mortgage,
Speaker 4: that's going to save you sixty thousand dollars over the
Speaker 4: life of that loan.
Speaker 8: Is there a limit that you can put into like
Speaker 8: to the point where you're putting three thousand in two thousands,
Speaker 8: to a point where.
Speaker 5: There's at point.
Speaker 4: I think it's point twenty five. A quarter of a
Speaker 4: percent is the lowest you can go with NAKA as
Speaker 4: a priority.
Speaker 8: So who qualifies for this? Is anybody eligible to qualify
Speaker 8: for KNAKA loans?
Speaker 4: Anybody? Well, anybody no income rescription.
Speaker 3: It's a government program, right, No, it's actually a nonprofit nonprofits,
Speaker 3: a nonprofit that organize against the banks initially when all
Speaker 3: the predatory lending happened, and somehow they organize against the
Speaker 3: banks and then got the banks to offer this amazing
Speaker 3: financing for people to kind of rectify the guilt that
Speaker 3: they had accumulated through all the predatory lending that they
Speaker 3: had done. But I know, so some of the downside
Speaker 3: is like people saying like it takes a long time
Speaker 3: and it's like tedious process.
Speaker 4: Right, Yeah, So the best way to approach NACA is
Speaker 4: actually to do your savings and actually have all your
Speaker 4: documentation in advance. So if I've been able to prove
Speaker 4: that I've been saving this particular amount in advance of
Speaker 4: actually applying for the program in my appointment, then I
Speaker 4: hit the ground running. But if I start without any
Speaker 4: financial discipline in advance and then have to go through
Speaker 4: the process of demonstrating that I can save this amount
Speaker 4: of money for this particular mortgage, that's going to take
Speaker 4: me an additional amount of time in order to qualify
Speaker 4: and get pre approved by them. So it's just coming
Speaker 4: to the table with your financial house in order first,
Speaker 4: and that accelerates the process for folks.
Speaker 8: How many times, can you actually use a knack a loon, Like,
Speaker 8: if I do it and I pay for home and
Speaker 8: let's say ten years, am I else will to do
Speaker 8: it again? Or can I have them running science simultaneously?
Speaker 4: How it wor no naka. Naka expects you to live
Speaker 4: in the home for the life of the loan, but
Speaker 4: it is a minimum of five year living requirement. So
Speaker 4: FAHA is only a one year living requirement and NACA
Speaker 4: is a five year but they actually desire you to
Speaker 4: live in that home for the life of the loan.
Speaker 4: So NACA is not a play where you can run
Speaker 4: several times faha. There are some hidden way, some secret
Speaker 4: way to use faha twice he had to use faha twise.
Speaker 4: But naka are likely not. And so if you want
Speaker 4: to scale your portfolio beyond NAKA after you use NAKA,
Speaker 4: you're actually going to have to refinance once you're out
Speaker 4: of this amazing interest rate right to go conventional to
Speaker 4: free you up to be able to go use one
Speaker 4: of the other loan programs, or go conventional and scale
Speaker 4: your portfolio up.
Speaker 8: So you can refinance after five years.
Speaker 4: Yeah, after five years, they actually hold a second lean
Speaker 4: position on you for that five years to make sure
Speaker 4: that you stand in property and you're not house hacking
Speaker 4: through them. So yeah, it's five years, but you're in
Speaker 4: order for refinance, you're going to need your home to
Speaker 4: have be at eighty percent loan to value. Now you
Speaker 4: put zero percent down, So you either have to force
Speaker 4: that appreciation or you have to have bought so right
Speaker 4: that it is appreciated to that extent over that period
Speaker 4: of time, over that five year period.
Speaker 3: Yeah, and THATCA is a great place in Aca if
Speaker 3: anybody that's that's how it's spelled. And I think they
Speaker 3: have like seminars and stuff like that or like yeah
Speaker 3: all the time. Yes, So you can actually like just
Speaker 3: Google in your area and like you said that you
Speaker 3: have a council like if you get a signed to
Speaker 3: somebody who's working with you. Yeah, and they kind of
Speaker 3: help you through the process and getting your documentation and
Speaker 3: everything in order. And you know, it's definitely beneficial for
Speaker 3: I've known some people that definitely have been able to
Speaker 3: purchase home through the NACO definitely.
Speaker 4: So Gloria, she purchased a triplex in Brooklyn, I know,
Speaker 4: in Philadelphia recently, and all she had to come out
Speaker 4: of pocket to acquire a triplex from Philadelphia? Was title fees?
Speaker 4: Title fees are a pair of Jordans. She got a
Speaker 4: triplex in Philadelphia for a pair of Jordans or a
Speaker 4: round trip flight from New York to Los Angeles, Like
Speaker 4: anybody can do that, but you have to know that
Speaker 4: it's there, and you have to be persistent and you
Speaker 4: have to be financially disciplined to be able to get
Speaker 4: qualified through them ERNs.
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Speaker 3: Let's talk about another financing program we spoke about before,
Speaker 3: but once again, it was a while ago since the
Speaker 3: last time we spoke about it, FHA loan. Yeah, so
Speaker 3: I think the FAH loan has beneficial because correct me
Speaker 3: if I'm wrong, You're able to put like three point
Speaker 3: five percent down. Correct, So talk about FAHA if anybody
Speaker 3: that's not familiar with fa.
Speaker 4: Yeah, So, FHA is a government program and and three
Speaker 4: point five percent down on a three hundred thousand dollars duplex, right,
Speaker 4: is only ten thousand, five hundred dollars. So where else
Speaker 4: can what other business can you buy for ten five
Speaker 4: hundred dollars that is valued at three hundred thousand dollars
Speaker 4: get financed for it within like forty five days, right,
Speaker 4: with minimal experience? What other business and they have it
Speaker 4: immediately cash flowing. There's no other business that you can
Speaker 4: buy for three hundred thousand dollars like that that quickly.
Speaker 4: And so this is why FAHA is so powerful. So
Speaker 4: FAHA typically requires about a six to eighty credit score
Speaker 4: to get qualified. It actually can go down. But if
Speaker 4: your credit score is below six eighty, then your interest
Speaker 4: rate or your down payment are going to increase on FAHA.
Speaker 4: There are FAHA guidelines. These are federal guidelines, but lenders
Speaker 4: can stack on their own lending guidelines on top of it.
Speaker 4: So just because FAHA says that the credit score minimum
Speaker 4: is six eighty or other lenders may say, no, we
Speaker 4: actually need a seven twenty in order to qualify you
Speaker 4: for that, so they can stack on their own guidelines
Speaker 4: to FAHA. But FAHA is really powerful. That's how I
Speaker 4: acquired my triplex in Brooklyn with the FAHA loan. And
Speaker 4: the downside of FAHA that people don't tell you is
Speaker 4: the PMI. It's a private mortgage insurance. Not going to
Speaker 4: and have private mortgage insurance, and so private mortgage insurance
Speaker 4: means that their banks are literally the government is actually
Speaker 4: protecting the banks, like they've already bailed up the banks.
Speaker 4: I don't know why the banks need protection, but they're
Speaker 4: protecting the banks. And so there's this additional private mortgage insurance.
Speaker 4: So it could be an additional one percent fee. So again,
Speaker 4: if your loan is three hundred thousand dollars, one percent
Speaker 4: is three thousand dollars per year. You divide that by
Speaker 4: twelve months, and now you're paying an additional additional two
Speaker 4: hundred and fifty dollars per month on your mortgage payment
Speaker 4: for this private mortgage insurance. And now that PMI is
Speaker 4: actually permanent. It's permanent until you refinance out.
Speaker 7: Oh, it doesn't go away after twenty percent.
Speaker 4: Used to go away after twenty percent. It is now
Speaker 4: permanent until you refinance out.
Speaker 8: So you said if the credit score wasn't great, that
Speaker 8: the interest rate can go up on three point five.
Speaker 4: Right, No, the down payment is down five. The interest
Speaker 4: rate is going to depend on a variety of things, now.
Speaker 8: Depending on if you get a single family or multi family.
Speaker 8: With those factors as well, that can change the strate
Speaker 8: of the property.
Speaker 5: Of the loan.
Speaker 4: No, so the interest rate is based on So for
Speaker 4: when I talk multifamily, I'm talking about two family, three family,
Speaker 4: or four family homes. These are also known as duplexus, triplexes,
Speaker 4: or four plexes. So once you get to five units
Speaker 4: or more, that's a commercial loan and that's a different
Speaker 4: lending process, right, that's a different lender, different terms, twenty
Speaker 4: year amortization, you're having an arm your interest rate is
Speaker 4: going to be higher, et cetera. So the interest rate
Speaker 4: is not dependent on whether it's a duplex, triplex, or
Speaker 4: four plex. The interest rate is based on your financial profile.
Speaker 7: Got it?
Speaker 3: So that PMI is that just for the FHA or
Speaker 3: is that because I know pre like, if you just
Speaker 3: put less than twenty percent on any type of mortgage,
Speaker 3: you have P and I.
Speaker 7: But until you get to twenty.
Speaker 3: Percent conventional is pm I two? That's the same thing, correct,
Speaker 3: all right? So just for the FAHA, it stays on
Speaker 3: for the.
Speaker 4: Life, stays on until you refinance out. So if I
Speaker 4: see that I went FHA, I have PMI. That's two
Speaker 4: hundred and fifty dollars additional per month. But my home
Speaker 4: is appreciated. I bought right in a gentrifying neighborhood, and
Speaker 4: I believe that I'm an eighty percent loan of value.
Speaker 4: I'm going to go run the numbers, get an appraisal,
Speaker 4: and actually refinance out of that PMI. And that's two
Speaker 4: hundred and fifty dollars back in my pocket. That's a
Speaker 4: car note, as a cell phone bill, that's groceries for folks.
Speaker 4: So yeah, but that's the key to buy and right.
Speaker 4: If you don't buy right, then you have to literally
Speaker 4: just sit and wait and continue to cough up this
Speaker 4: extra two hundred and fifty dollars a month that is
Speaker 4: just literally there to protect the banks.
Speaker 8: So PMI exists on a conventional If it's not twenty percent,
Speaker 8: there's correct. What if I'm doing it's not My primary
Speaker 8: residence is in our investment property. Just PMI exists on that,
Speaker 8: and I think it's like twenty five percent.
Speaker 4: There's twenty five percent down on a purely investment property.
Speaker 4: So yeah, you have to do correct. So there's no PMI, gotcha? Yeah,
Speaker 4: two O.
Speaker 7: Three K loan? That care you talking about that? Yeah?
Speaker 4: So two or three K loan fha same thing. But
Speaker 4: here's how it works. So they're going to give me
Speaker 4: my three point five percent down payment's going to be
Speaker 4: on the acquisition price plus the actual rehab. So if
Speaker 4: my acquisition price is two hundred and the rehab is
Speaker 4: one hundred, then my down payment is still going to
Speaker 4: be ten thousand, five hundred. What's powerful about the two
Speaker 4: O three K loan is that you're going to get
Speaker 4: a two or three K consultant who guide you through
Speaker 4: some of the rehab process, and you're likely going to
Speaker 4: step in and built in equity because you took something
Speaker 4: that was run down, you put in one hundred thousand
Speaker 4: to it, it's now like a brand new home. So
Speaker 4: even though you have three hundred thousand in, you build equity.
Speaker 4: So now you're stepping into equity right out the gates.
Speaker 4: And that's one of the keys to buying right. So
Speaker 4: we don't just want people to go out there and
Speaker 4: buy real estate, just like we don't want people to
Speaker 4: just go out there and buy stocks just because we
Speaker 4: said so. We want you to buy right. And so
Speaker 4: buying right is three criteria. First criteria is that you're
Speaker 4: stepping into built in equity, meaning that your a praise
Speaker 4: price is actually higher than your purchase price. So you're
Speaker 4: stepping in equity right out the gates. You won out
Speaker 4: the gates because you have equity. The second criteria is
Speaker 4: that in multifamily at at least a twelve percent castional
Speaker 4: cash return in the rule of seventy two. Seventy two
Speaker 4: divided by twelve means that your money's doubling every six years.
Speaker 4: The money that you have in the property is doubling
Speaker 4: every six years. And then the third criteria for buying
Speaker 4: right is that there's definite appreciation potential and definite appreciation
Speaker 4: potential means that I've identified thirty three signs of gentrification,
Speaker 4: and definite appreciation potential means that you bought on the
Speaker 4: right side of the wave. And so when I bought
Speaker 4: on Fulton and Utica in Brooklyn, there was about ten
Speaker 4: to fifteen signs of gentrification there, right, and that was
Speaker 4: called do or die pad stot at the time when
Speaker 4: I purchased it no longer right because I saw it
Speaker 4: coming from Dumbo, correct, it was coming from I saw
Speaker 4: the wave coming from Dumbo right to Fort Green stuyves
Speaker 4: and the heights to Best Stie. So I saw the wave.
Speaker 4: So I bought right here. I bought right here when
Speaker 4: the wave was here, and I've been able to ride
Speaker 4: that wave all the way through East New York. So
Speaker 4: that's definite appreciation potential because now that neighborhood has thirty
Speaker 4: of the thirty three signs of gentrification. So every time
Speaker 4: a new sign is added, the equity is going up.
Speaker 5: All right, we gotta go there, We have to go there.
Speaker 5: So three signs of gentrifications.
Speaker 8: Sorry, we like to see it, like I used to say, like, yo,
Speaker 8: you see a Starbucks, you see you see these fortune
Speaker 8: five hundred companies Uh, you see new construction, you see
Speaker 8: new building. What are some of the signs that you're
Speaker 8: looking for in that list of signs of gentrification?
Speaker 4: Our favorite one is, uh is a white girl running
Speaker 4: at nine pm through to what used to be known
Speaker 4: as a hood with her ear pods on and the
Speaker 4: Lululemon You you're good to go. You're good to go. Okay,
Speaker 4: gotta bel Oh no park, she's still a little too hood.
Speaker 4: Gotta be Lululemon. And that's just a telltale sign. Of course.
Speaker 4: You're going to start to see dumpsters, coffee shops, cafes,
Speaker 4: yocal studios, a dog grooming. You're gonna see bike lanes,
Speaker 4: things of that nature. These are some of them.
Speaker 7: Their white lanes is heavy.
Speaker 4: Yeah, they're gonna start to call graffiti art right all
Speaker 4: of a sudden. You see neighborhood name changes and things
Speaker 4: of that nature. So these are some of the key
Speaker 4: signs of gentrification, and you have to train your eyes
Speaker 4: to be able to observe them and watch them happening.
Speaker 4: Because they're happening. You just have to train your eyes.
Speaker 7: The bike lanes is heavy, yeah, all through hall them.
Speaker 5: Yeah.
Speaker 7: Once you saw those city bike.
Speaker 3: Things, yeah, you know yeah, but even like the beltline
Speaker 3: in Atlanta, similar type of situation.
Speaker 4: Yeah, it's and it's the same patterns playing out. So
Speaker 4: I saw the same pattern in Oakland, right, I saw
Speaker 4: it in West Oakland and East Oakland. Then I saw
Speaker 4: the same pattern in Inglewood. When I was down in LA,
Speaker 4: then I saw the same pattern here, saw the same pattern.
Speaker 4: It's the same pattern playing out. So it's just pattern
Speaker 4: recognition at the end of the day. And so if
Speaker 4: you're able to see the patterns and you're able to
Speaker 4: get ahead of them and benefit from it.
Speaker 3: So here's a big one that everybody asks because a
Speaker 3: lot of our New Yorker's our biggest market, followed by Atlanta,
Speaker 3: Los Angeles, so Oakland, California. So we have listeners all
Speaker 3: over the world, but a lot of people are in
Speaker 3: these major markets, and the common denominated is that real
Speaker 3: estate is expensive, extremely high.
Speaker 7: So a lot of people get discouraged.
Speaker 3: They're like, this might work for you know, if you
Speaker 3: in the middle of America, but in Brooklyn, in hallm
Speaker 3: like in you know, La, it's not working.
Speaker 7: I can't.
Speaker 3: I don't have enough money to buy real estate. So
Speaker 3: this is this is something I think is going to
Speaker 3: be extremely beneficial how to win and beat out cash
Speaker 3: buyers and hedge funds and expensive markets like New York
Speaker 3: and Los Angeles.
Speaker 4: Yeah, you got to know what you're doing. You're playing
Speaker 4: against heavy hitters, and so you have to elevate your game.
Speaker 4: If you think you're just going to walk into the
Speaker 4: real estate market and be able to play with the
Speaker 4: big boys and not understand what you're doing, you're gonna
Speaker 4: lose every time. So I tell people all the time,
Speaker 4: you see a property on trulyian Zilo, first and foremost,
Speaker 4: that's not where I go to find properties. All of
Speaker 4: my property I find is off market deals. So I'm
Speaker 4: not competing with people because once a property hits one
Speaker 4: of those websites, there's a thirty percent premium because now
Speaker 4: demand is increasing because everybody in the world is seeing
Speaker 4: that property that's getting emailed out to everyone. Right, So
Speaker 4: I'm looking for off market deals. And how do you
Speaker 4: find off market deals? You find them through relationships, through
Speaker 4: human beings. So my real estate rollodecks in New Orleans
Speaker 4: about sixty six people, multiple agents. That's a gym. I
Speaker 4: don't just have one agent like a lot of people
Speaker 4: that you just get one agent let them go do
Speaker 4: all the work. Don't have multiple agents? Why would I
Speaker 4: restrict my search to one single agent. Now, if that
Speaker 4: agent happens to be the best in the city at
Speaker 4: identifying multi family properties, I'll sign an exclusive agreement with them.
Speaker 4: But otherwise, whoever brings me the deals, who's going to
Speaker 4: get the commission and get paid. I have contractors, I
Speaker 4: have lenders, I have other property owners. I have friends
Speaker 4: and family who are looking out for me. Why would
Speaker 4: a contractor be looking out for me? Because if they
Speaker 4: find a deal and bring it to me, who's going
Speaker 4: to get the work? When I need to rehab that property?
Speaker 4: The contractor is right?
Speaker 8: So what's that process like because a lot of times
Speaker 8: people fall into that. You know what, everything was great,
Speaker 8: I can't find a good contractor what's the process of
Speaker 8: finding a good one, keeping a good one, build a
Speaker 8: relationships with them.
Speaker 4: Yeah, it's word of mouth and pulling up on people
Speaker 4: on site. So when you see contractor outside of a house,
Speaker 4: you pull up. You got to see their work. Otherwise
Speaker 4: you're just guessing for some YELP reviews or something like that,
Speaker 4: and all of those can be manipulated. If I actually
Speaker 4: see your work and I see that you start to
Speaker 4: hear about out Wednesday and you are out the door
Speaker 4: by Monday of next week for a bathroom, then I
Speaker 4: know you are efficient and good at what you do.
Speaker 4: And it's got to be word of mouth. Like my
Speaker 4: real estate Rollodecks has been built by word of mouth
Speaker 4: and then pulling up people on site and testing them out,
Speaker 4: so you might test them out on painting one bedroom
Speaker 4: before you test them out on painting the entire house
Speaker 4: that you have, right and see what the quality of
Speaker 4: work is at that level. But back to the question
Speaker 4: at hand, so off market deals. The other thing is
Speaker 4: that the only thing that beats a cash offer is
Speaker 4: a fast offer, So you have to be confident about
Speaker 4: what you're doing. And when it comes to evaluating multi
Speaker 4: family real estate, there's actually twenty three numbers that you
Speaker 4: need to know. When you're buying a single family home,
Speaker 4: is how much would we get approved for right? Four
Speaker 4: hundred thousand? How much is the home three eighty do
Speaker 4: we like it? Yes or no? Three factors. When you're
Speaker 4: buying multi family real estate, there's twenty three numbers that
Speaker 4: you have to know to evaluate a deal, and if
Speaker 4: you leave out one single number, you can literally step
Speaker 4: into a bad deal that will set you back for
Speaker 4: five to ten years. So you have to know how
Speaker 4: to run those numbers. If you are on Trullian Zillow
Speaker 4: and you're over here heart and stuff and bookmarking stuff,
Speaker 4: I know you're not ready to play this game. Because
Speaker 4: when you are hurting something on Tuesday, right and put
Speaker 4: it in your favorites folder and you talk about, I'm
Speaker 4: gonna come back to it on Saturday, what's the two
Speaker 4: words under the listing every time you come back to
Speaker 4: it on Saturday pending under contract? Because you didn't know
Speaker 4: how to play the game, somebody else saw the deal
Speaker 4: and moved on it. So you have to be able
Speaker 4: to make those decisions confidently. And it's all based on numbers.
Speaker 4: Multi family real estate is purely based on economics, not
Speaker 4: on emotions. So I don't make emotional decisions when it
Speaker 4: comes to multi family real estate. For instance, the property
Speaker 4: that I bought in Oakland, I was living here in Brooklyn.
Speaker 4: I ran the numbers and my offer was in within
Speaker 4: one hour of the listing being up, within one hour, right,
Speaker 4: no hesitation whatsoever. I didn't have to see the property.
Speaker 4: I've actually never set foot inside of this property. I
Speaker 4: bought that property for four hundred and eighty thousand dollars
Speaker 4: and twenty seven months we got a rear praise twenty
Speaker 4: seven months later, as were seven hundred and ten and
Speaker 4: I've never set foot inside of it. So for those
Speaker 4: who are in expensive markets, your money does not have
Speaker 4: to work in the same city as you do. Some
Speaker 4: people have bought Amazon stock never been to Seattle. You
Speaker 4: bought Nike stock and never been to Oregon. Your money
Speaker 4: does not have to work in the same city as
Speaker 4: you do. So when you understand how to run the numbers,
Speaker 4: and you know certain neighborhoods, and you have a great
Speaker 4: agent on the ground in that market, you're not limited
Speaker 4: to where you are. A lot of people think, oh,
Speaker 4: real estate, it has to be where I'm living, and
Speaker 4: that's cool. Typically I tell people here's the four markets
Speaker 4: that you should invest in, and a lot of people
Speaker 4: think that they're cities. No one investor. First try to
Speaker 4: invest where you live. Okay, if that doesn't work because
Speaker 4: it's too expensive for something like that. To invest where
Speaker 4: you're from, Because you know what was happening there when
Speaker 4: you're growing up, you're able to see the patterns and
Speaker 4: the trends. That's why I invested in Oakland, right. Then
Speaker 4: three invest where you want to be a contribution, So
Speaker 4: for me, that was New Orleans. I want to be
Speaker 4: a contribution to that culture. And then four invest wherever
Speaker 4: you can make money. I've never invested purely in a
Speaker 4: place because of making money. So when it comes to
Speaker 4: real estate being expensive where I am, let's just calculate
Speaker 4: how expensive you paying rent is for the next five
Speaker 4: to ten fifteen years.
Speaker 7: Right.
Speaker 4: If you're rent in New York is two thousand dollars,
Speaker 4: that's twenty four thousand dollars. That's an l that's a
Speaker 4: twenty four k L. And if we multiply that by
Speaker 4: ten years, that's a quarter million dollars. That's two hundred
Speaker 4: and forty thousand dollars ten years. So what's actually more expensive?
Speaker 4: So when an expensive market like typically we're looking for
Speaker 4: a twelve percent cash on cash return, right, But in
Speaker 4: a market like New York, you might have to settle
Speaker 4: for the fact that the money that's coming out of
Speaker 4: my pocket is less than what I'm paying in rent.
Speaker 4: So if I'm paying if I'm negative two thousand in
Speaker 4: rent in New York and I'm able to find a
Speaker 4: multifamily that only reduces my house an expense to five
Speaker 4: hundred dollars. That's actually a win in an expensive market.
Speaker 4: Is that the ideal twelve percent cash on cash return
Speaker 4: when my property is now paying me no, but it's
Speaker 4: actually changing my cash flow of my family because now
Speaker 4: I'm up fifteen hundred dollars a month because of this
Speaker 4: multi family. So these are some of the keys being
Speaker 4: willing to invest from a distance, reevaluating the numbers and
Speaker 4: comparing it to how expensive rent is, because that's going
Speaker 4: to be there unless you've changed something. Rent is going
Speaker 4: to continue to be there. There's only three ways to
Speaker 4: get rid of your house and expense forever. That is
Speaker 4: one live in a tent, two go to jail, or
Speaker 4: three by multi family real estate. So you talk about
Speaker 4: twenty three numbers to know what are some of the numbers. Yeah,
Speaker 4: so you have to know the rents obviously, right, just
Speaker 4: because a seller gives you rent role doesn't mean that
Speaker 4: those are the actual rents. You need to know what
Speaker 4: the actual rents are. You need leases, you need to
Speaker 4: verify those.
Speaker 3: Talk about that because that's something that people don't fully appreciate, Like, yeah,
Speaker 3: you have to actually know what's actually happening with the property.
Speaker 7: Yeah, not what it's just telling you what is happening. Yeah,
Speaker 7: you have to do due diligence.
Speaker 4: So I'm asking for leases, but even leases don't tell
Speaker 4: me if that tenant is actually paying on time. So
Speaker 4: I need to actually see that amount of money hitting
Speaker 4: the account between the first and the fifth for all
Speaker 4: four units that I'm about to purchase. I'm buying a business.
Speaker 4: I'm buying a business. And if we were going to
Speaker 4: buy a laundry matter or something like that, we're going
Speaker 4: to actually need to see the cash flow now, because
Speaker 4: most owners are just individuals. Some of them don't have
Speaker 4: good accounting around the actual cash flow of the property.
Speaker 4: But you have to know what you're getting into, especially
Speaker 4: in this market where you have COVID restrictions and you
Speaker 4: can't evict people, et cetera. You got to actually know
Speaker 4: those things. And so I'm asking for bank statements. I
Speaker 4: don't need to see your entire bank statement, cross everything out,
Speaker 4: but I need to see when that money actually hit
Speaker 4: the account, right. But then we use other online tools
Speaker 4: like rental meter to actually identify how much should this
Speaker 4: particular unit be getting right, and so if I see
Speaker 4: that a seller has not increased rents for ten years
Speaker 4: and the rents are actually at one thousand dollars, but
Speaker 4: I run the numbers over here and look at the
Speaker 4: standard deviation because that's what a rental meter does, and
Speaker 4: I see that could actually be commanding thirteen hundred dollars
Speaker 4: a month, then I might have found some hidden value
Speaker 4: in a particular property. Now, as an ethical investor, I'm
Speaker 4: not interested in displacing people. So I'm not like some
Speaker 4: of these other real estate folks who say, yeah, just
Speaker 4: come in by the property and just kick the people out. Know,
Speaker 4: as ethical investors, we put people before profit. We put
Speaker 4: people before profit. These we want our people to stay
Speaker 4: in our communities. But what's crazy is that a good
Speaker 4: investor actually has to increase rents every single year. And
Speaker 4: that was that was a hard awakening for me. And
Speaker 4: here's why. If I'm an owner in Oakland and I
Speaker 4: don't increase rents just because I want to be nice
Speaker 4: to my tenants, right then when I want to sell
Speaker 4: my property at eight hundred thousand dollars, a property that
Speaker 4: I got fifteen years ago for three hundred thousand dollars,
Speaker 4: the crints will not justify that to a seller, and
Speaker 4: therefore I will be stuck in that property and never
Speaker 4: be able to get it off. So I'll literally not
Speaker 4: be able to ever get liquid or release that property
Speaker 4: because the rents don't justify it. And so we increase
Speaker 4: rents according to the CPI in that market. So if
Speaker 4: the CPI in Oakland will win up three percent that year,
Speaker 4: then we're going to increase rents by three percent because
Speaker 4: guess what, my other expenses are going to go up
Speaker 4: three percent. My contractors are going to go up, my
Speaker 4: utilities are going to go up, my garden is going
Speaker 4: to go up, and so in order to provide you,
Speaker 4: taxes are going up. So in order to still provide
Speaker 4: you with the quality housing that I desire to provide
Speaker 4: for you, I have to be able to meet that.
Speaker 4: If I think just by being nice right and keeping
Speaker 4: your rent where it is, then ultimately I might not
Speaker 4: have enough money to fix that roof leak because I
Speaker 4: didn't increase rents, but all my other expenses went up
Speaker 4: during that period of time. Yeah, so this is this
Speaker 4: is really key. So even as an ethical investor, we
Speaker 4: have to increase rents, but we don't increase rents in
Speaker 4: such a way where it's going to be from one
Speaker 4: thousand and thirteen hundred just like that, or else you
Speaker 4: got to get out. That's not that's not how we
Speaker 4: treat people.
Speaker 8: So you said, this is this kid because you know
Speaker 8: all the numbers, and it's something like Corona happens. Yeah,
Speaker 8: and you have a rental oratorium and it's like all right,
Speaker 8: well people don't have to pay rent.
Speaker 5: So how do you handle a situation like that? I
Speaker 5: know you have a lot of doors. How does that work?
Speaker 4: Yeah, so half of my portfolio section eight. So that's
Speaker 4: guaranteed income, right, whether the economy is up and dawn. Yeah,
Speaker 4: whether the economy is up or down, I'm straight. And then
Speaker 4: the other key is you have to actually screen your tenants.
Speaker 4: So my market rate tenants, teachers, nurses, people like that
Speaker 4: whose income is not going to fluctuate based on a market.
Speaker 4: Like in New Orleans, I typically won't hire somebody who's
Speaker 4: in hospitality, right because, especially in this COVID environment, that
Speaker 4: hotel shuts down or flights or canceled things of that nature.
Speaker 4: Now their income is fluctuating there. For that means my
Speaker 4: income is going to fluctuate so you have to be
Speaker 4: very mindful about who you actually attract. So some of
Speaker 4: those other numbers include your property management, right includes the
Speaker 4: g gardening. Like if I look at a property online
Speaker 4: and I see that it has no grass or a
Speaker 4: lot of grass, I'm going to put aside a eighty
Speaker 4: dollars budget a month for a gardener if it has grass,
Speaker 4: because that has to be up kept. They're literally cities
Speaker 4: that will give you give you tickets for not upkeeping
Speaker 4: your yard. Right, I have to know my cap X.
Speaker 4: Cap X is my capital expenditures. Those are about ten
Speaker 4: percent of rents. So if rents are four thousand dollars,
Speaker 4: I'm going to set aside four hundred dollars a month
Speaker 4: in a separate account for roof, foundation, electrical plumbing, and
Speaker 4: things of that nature. Right in HVAC, I'm going to
Speaker 4: set aside money for those things that I know will come.
Speaker 4: They might not be immediate right now. I may not
Speaker 4: need a new roof right now, but I need to
Speaker 4: set aside a portion of rents for that repair reserve.
Speaker 4: Like the sink leaks or a hole in the wall,
Speaker 4: or rodents or something like that, that's I'm gonna set
Speaker 4: aside five percent For that, I got to know my
Speaker 4: interest rate, right, I got to know my down payment
Speaker 4: these are I got to know my PMI. So all
Speaker 4: of these numbers factor into seeing if this property is
Speaker 4: actually going to cash flow at the level that you desire.
Speaker 4: And again you leave out one numbers, especially a number
Speaker 4: like tax. You think you're buying a cash flowing property.
Speaker 4: Then you see that your taxes in New York at
Speaker 4: eight thousand dollars a year, and you realize that you're negative,
Speaker 4: that you went backwards. And the key thing about tax
Speaker 4: in calculating taxes when you're running your numbers is that
Speaker 4: the tax assessment is usually going to be based on
Speaker 4: the purchase price that the previous owner purchased the property at, right,
Speaker 4: and their taxes are going to be based on that.
Speaker 4: But once you purchase it at two times or three
Speaker 4: times what they purchased it at because they were sitting
Speaker 4: on it for twenty years, it's gonna get reassessed and
Speaker 4: your taxes may double or triple accordingly, So if you
Speaker 4: were running your numbers based on their taxes, you think
Speaker 4: your property is cash flowing. But then when it gets
Speaker 4: reassessed a year later after you've owned it you realize
Speaker 4: that you're actually in the negative because you didn't account
Speaker 4: for the fact that it was gonna get reassessed at
Speaker 4: the purchase price that you bought it for.
Speaker 3: So set you said, half of your properties are like
Speaker 3: Section eight tenants. Yes, can you talk about that. We
Speaker 3: haven't talked about that on the program yet. We'll talk
Speaker 3: about Section eight because I know obviously it has a
Speaker 3: lot of you know, stigma attached to it, but it's
Speaker 3: actually a lot of positive It is for being a landlord.
Speaker 4: Right. I don't know where the stigma came from. I
Speaker 4: think it was in Living Color. I think it might
Speaker 4: have been I think it might have been some of
Speaker 4: Living Colors skin or Martin or something like that. Talking
Speaker 4: about Section eight tenants. But you actually get to still
Speaker 4: screen your section eightenants. Somebody. Just because somebody shows up
Speaker 4: with a voucher, you don't have to say, oh, you
Speaker 4: get to move in. You still have to screen them.
Speaker 4: So I'm literally going to scream my section eighten It's
Speaker 4: just like I was a screen market rate tenant, and I'm
Speaker 4: looking at how she treats her kids. I'm looking at
Speaker 4: how she how she keeps herself, right, I'm looking at language,
Speaker 4: tone patterns and things of that. I'm looking at the
Speaker 4: application if the instructions were followed, and things of that nature.
Speaker 4: So I'm literally screening my second e tenants and my
Speaker 4: Section eight tenants. I'll be honest with you, they all
Speaker 4: of mine have been good. People fell on hard times.
Speaker 4: So I had people who got displaced by Katrina. I
Speaker 4: had people who who lost a husband, things of that nature,
Speaker 4: and they just experienced something that knocked them off their feet,
Speaker 4: and they're trying to get back on their feet. And
Speaker 4: now I get to be a support mechanism provide them
Speaker 4: a quality, affordable housing so that they don't have to
Speaker 4: worry about that piece by living in a neighborhood that
Speaker 4: is not actually conducive for their kids to grow up in.
Speaker 4: So I love my Section eight tennis. They love me.
Speaker 4: And on top of that, they typically don't don't leave
Speaker 4: unless family size expands. They typically don't leave less family
Speaker 4: size expands. So the section it's still in this for
Speaker 4: a minute, So it's Section eight. People I think think
Speaker 4: that Section eight they automatically assume projects housing projects. But
Speaker 4: you can have section eight.
Speaker 3: And living a home, Yeah, you don't have to live.
Speaker 3: I think that's a common misconception also, correct. And luxury buildings, well,
Speaker 3: that's different, that's not sextually and eight that's that's I
Speaker 3: think that's like subsidized type of rent rent control. It's
Speaker 3: a little different. But so Section eight is provided by
Speaker 3: the government.
Speaker 4: Correct.
Speaker 3: You have to be you know, under a threshold I
Speaker 3: think of like poverty level probably, right, and then they'll
Speaker 3: give you like a voucher, let's say it's like fifteen
Speaker 3: hundred dollars or a thousand dollars whatever, and then you
Speaker 3: can use that and you can live in a.
Speaker 7: House, right, just like that.
Speaker 4: Yeah, So the only issue with Section eight is that
Speaker 4: the inspections, so they are in New Orleans and particular, uh,
Speaker 4: the inspections, they can come and they're very they're sticklers
Speaker 4: about windows, there's sticklers about doors, there's sticklers about where
Speaker 4: the where the uh the fire alarms are and everything
Speaker 4: like that. So if you want to avoid any delays
Speaker 4: in getting your first check, you kind of want to
Speaker 4: start to learn what they actually look for so that
Speaker 4: when they actually do come and do the inspection that
Speaker 4: you're ready to go and the transfer can happen and.
Speaker 3: The government paid you, so they don't have to worry
Speaker 3: about government pays. What about rent increase?
Speaker 7: Does that?
Speaker 4: Oh? The Section eight programs. So my property in Oakland
Speaker 4: and my properties in Brooklyn, actually all my properties have
Speaker 4: Section eight and they're their equivalent to market rate, and
Speaker 4: I don't have to worry. It's guaranteed. So when you
Speaker 4: raise the rent, you know, I don't raise the rent.
Speaker 4: They have their own payment standards, and their payment standards
Speaker 4: have been competitive with market, right, yeah, the government.
Speaker 3: So this year, this is the payment for two bedroom
Speaker 3: in New Orleans, okay, and it's it's competitive to the market.
Speaker 8: What's the process, so like when everything's going good, and
Speaker 8: obviously you said ethical investors and we've screened our tenants.
Speaker 8: But what happens when something goes bad and it's somebody
Speaker 8: that you know, what we need to get them out
Speaker 8: of the property?
Speaker 5: Is it?
Speaker 8: What's the process like to evict somebody that's in a
Speaker 8: Section eight unit.
Speaker 4: You just have to document what occurred and make sure
Speaker 4: you get that information, have evidence to present to the counselor.
Speaker 4: I mean there's other people who other landlords will desire
Speaker 4: Section eight tenants. If you want them, you can have them,
Speaker 4: but you just have to document the process. It's same
Speaker 4: with any eviction. You got to go through the same thing.
Speaker 4: And I only had to do two evictions in my
Speaker 4: entire experience because I screened right and so I haven't
Speaker 4: had to have that experience. But it's the same thing,
Speaker 4: and you want to know the for Section eight I
Speaker 4: typically go through, I would have to go through housing
Speaker 4: for I would go through the Section eight office. But
Speaker 4: for eviction, it's really key for anybody buying more time.
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Speaker 7: Hey, y'all, Farris Rutger here.
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Speaker 4: My family. You need to know what the eviction process
Speaker 4: is in your city. You never want to use it,
Speaker 4: but you need to know how it actually works and
Speaker 4: how it operates, how quickly, how quickly it can happen.
Speaker 4: So in New York take you six months.
Speaker 7: Forever you take a year? Yeah, two years?
Speaker 5: Yeah today?
Speaker 4: Yeah exactly. So that was what makes it a tenant
Speaker 4: friendly or a landlord friendly thing. You need to know
Speaker 4: that process because it may it may happen to you,
Speaker 4: and that would six months or a year would significantly
Speaker 4: affect your cash flow and some for some people, their
Speaker 4: ability to actually afford that property.
Speaker 3: So yeah, how do you get listed for Section eight?
Speaker 3: You just go on like the government's website and fill out.
Speaker 4: I've never been on Section eight, so I'm sayloord, get
Speaker 4: a properties, go straight to the Section eight office and
Speaker 4: say here's I would like to create an account. You'll
Speaker 4: at your first listening up there, just like you're putting
Speaker 4: it up on apartments dot com, no different. And then
Speaker 4: they're going to ask for your your articles of incorporation,
Speaker 4: They're going to ask for your avoided check, et cetera,
Speaker 4: so that they can wire you the money on the
Speaker 4: first of the month. That money comes like clockwork.
Speaker 3: Yeah, like I said, I mean from a landlord standpoint,
Speaker 3: it's the government paying you.
Speaker 4: So yeah, you don't have to worry about it whether
Speaker 4: the economy is up or down. So yeah, that's like
Speaker 4: you can't beat that.
Speaker 8: So you said, I'm gonna go back a little bit
Speaker 8: because I'm thinking that the average person was looking to
Speaker 8: invest in real estate. If we're not using truly, we're
Speaker 8: not using Zilo, and we haven't built real estate rolodecks. Yeah,
Speaker 8: where we're going we're going to ultrasifying properties or were
Speaker 8: going to like the section Like, where would I go
Speaker 8: if I was just trying to start?
Speaker 4: Yeah, So if you're just trying to start, you go
Speaker 4: get educated first. You go get educated first. But h
Speaker 4: you know, they call it driving for dollars, So first
Speaker 4: and foremost, you want to identify a neighborhood that you
Speaker 4: think is about to pop off next and so I
Speaker 4: don't care what city you're in. You should be able
Speaker 4: to take me on a helicopter ride of that city
Speaker 4: and actually show me where the lines are, where things
Speaker 4: are on the fringes, where things are about to pop off.
Speaker 4: You should be able to tell me that because when
Speaker 4: you're looking at truly in Zilo, you're looking from a
Speaker 4: property level. But we need to see how your city
Speaker 4: is trending. Where are people moving to? Right, So as
Speaker 4: rents increase in major urban centers, people are leaving and
Speaker 4: they're going somewhere, and so you need to be able
Speaker 4: to tell me in your market where are people going.
Speaker 4: So Mesa, Arizona was one of the hottest rental markets
Speaker 4: in the country. And you know where Mesa, Arizona is.
Speaker 4: It's fifteen minutes outside of Phoenix. So Phoenix was getting
Speaker 4: gentrified and people deciding where do I go that still
Speaker 4: can get me to work? And Mesa happen to be it.
Speaker 4: So you need to find that smaller secondary market that
Speaker 4: is around it. So once you've identified a neighborhood, now
Speaker 4: you want to start driving for dollars, and you want
Speaker 4: to start looking for where there's trends, where you're starting
Speaker 4: to see the ten to fifteen signs of gentrification, and
Speaker 4: you want to target your search specifically. There then comes
Speaker 4: personal branding. You have to let people know that this
Speaker 4: is actually what you're looking for. You need to be
Speaker 4: very clear in your language. I'm looking for a triplex
Speaker 4: the in seven eight oh two for the price range
Speaker 4: of two hundred and fifty thousand dollars, and you need
Speaker 4: to start communicating that to not only agents, but to
Speaker 4: everybody around you so that when things happen, so for instance,
Speaker 4: somebody's parent transitions or their grandmother transitions, and the children
Speaker 4: do not want to buy. No child of the four
Speaker 4: wants to buy the house from their siblings.
Speaker 5: Right.
Speaker 4: Everybody wants to cash out. And before it hits the market,
Speaker 4: guess who they reach out to you because you communicated
Speaker 4: what you were looking for a well, my friend is
Speaker 4: looking for a multifamily now. So this is this is
Speaker 4: the key is to build those relationships and let other
Speaker 4: people know what you're actually looking for. It's not a website.
Speaker 4: It's been relationships for me, and then driving for dollars
Speaker 4: means also skip tracing. So driving for dollars, you're driving
Speaker 4: through neighborhoods and you're looking for properties that are boarded up,
Speaker 4: you're looking for properties that had overgrown grass, you're looking
Speaker 4: for properties with twenty newspapers in the front yard, and
Speaker 4: you take down the address and you do what they
Speaker 4: call skip trace, and skip tracing means going online and
Speaker 4: actually identifying the owner through the assessor's website or through
Speaker 4: white pages dot com. Right, So you skip trace, skip
Speaker 4: trace them, you call them, you text them, you mail them,
Speaker 4: right and you ask them if they're what they're doing,
Speaker 4: what their intentions are for that property. So the home
Speaker 4: that I live in, my single family that I live
Speaker 4: in now, I didn't get a single family until I
Speaker 4: had twenty doors, right. So, but my home that I
Speaker 4: live in now, I skip trace the owner. I wanted
Speaker 4: that property. I saw it sitting there vacant, and when
Speaker 4: I first found her, she said that, oh yeah, I
Speaker 4: plan to move on there, finish the work that's in there,
Speaker 4: et cetera. Because it was down to the studs already.
Speaker 4: And it took me a year and a half to
Speaker 4: get that property. But I'm the only one that knew
Speaker 4: that she was in a in between space about what
Speaker 4: she was going to do with the property because I
Speaker 4: was the only one who did the research. So I
Speaker 4: got that property at a discount. I got it for
Speaker 4: I think put in sixty finished it out really nice
Speaker 4: and it's worth it Actually is getting re praised this week,
Speaker 4: and I think it's going to praise it three hundred thousand.
Speaker 3: So well done for people. Let's just bring it back. Multifamily.
Speaker 3: The benefit of having a multifamily is that you have
Speaker 3: cash flow as opposed to just most people when they
Speaker 3: think of buying a home and just buying a single
Speaker 3: family home. Yeah, and as you said, the problem with
Speaker 3: that is that if you lose your job, it's not
Speaker 3: really that when people say, like it's a home and
Speaker 3: asset or a liability and it's like a single family technically,
Speaker 3: you can kind of say it.
Speaker 7: Could be a liability.
Speaker 3: Di tactically is where it's a multi family home. You
Speaker 3: got somebody living you know, below you, above you. Now
Speaker 3: you actually collect two forms of rent. So it's actually
Speaker 3: positive cash flow. So that's the benefit of anybody that's wondering,
Speaker 3: like while we're talking aout multifamily, that's the benefit of
Speaker 3: multi family homes. Now, one of the knocks multi family
Speaker 3: homes is that people don't want to live with other people.
Speaker 3: They don't want to live in the same house that
Speaker 3: somebody is above them or somebody is blow them.
Speaker 7: What would you say to them for that.
Speaker 4: You're renting right now, somebody living above you or next
Speaker 4: to you right now.
Speaker 7: If you're in a building, yeah, you likely are.
Speaker 3: But like as far as like buying a home, and
Speaker 3: you're like, if I'm an buy a home, I want
Speaker 3: a home.
Speaker 7: I don't want to live you have to deal with neighbors.
Speaker 4: But you're gonna have to deal with a mortgage. You
Speaker 4: either deal with neighbors, you deal with a mortgage, and
Speaker 4: faha is only one you're living requirement? Right, So a
Speaker 4: lot of people the single family dream has been pushed
Speaker 4: to folks, But the American dream is just rocked people
Speaker 4: to sleep. It's actually the American nightmare. Everything they tell
Speaker 4: you to do in the American dream is to rock
Speaker 4: you to sleep. Everything they tell you to go to college,
Speaker 4: who gets paid off that student non interest the government?
Speaker 4: They say, go get a high paying job, who gets
Speaker 4: paid Take the money off the top the government. Then
Speaker 4: they say go get a single family home who you
Speaker 4: have to pay property taxes to the government everything they
Speaker 4: told you to do in the American dream so that
Speaker 4: they could get paid.
Speaker 7: Right.
Speaker 4: So, AHGTV will have you fooled and thinking that once
Speaker 4: you get the keys you are a home owner. That's
Speaker 4: a lie, your home buyer, you bought a home, you're
Speaker 4: not a homeowner because you only put three point five
Speaker 4: percent down. The bank owns the other ninety six point
Speaker 4: five percent, right, And so we have to be very
Speaker 4: careful with our language. What happens is a lot of
Speaker 4: people buy single family homes and like, oh, look at me,
Speaker 4: I'm grown now. I ain't renting no more. That's a lie.
Speaker 4: You still are renting. You're not rented from a landlord.
Speaker 4: You just rented the bank's money. What is the bank's
Speaker 4: money rented called? It's called interest. You're renting money. You're
Speaker 4: not renting a space. You're renting money.
Speaker 7: Right.
Speaker 4: And so on a three hundred thousand dollars loan at
Speaker 4: four percent with only three point five percent down, you're
Speaker 4: about to pay two hundred and eight thousand dollars an interest.
Speaker 4: So people look at a single family home say, oh,
Speaker 4: that home's only three hundred thousand dollars. No, that home
Speaker 4: is going to cost you five hundred and eight thousand dollars.
Speaker 4: Not only are you buying yourself a home, you're buying
Speaker 4: your lender a home at the same time. And if
Speaker 4: you look at the mortgage payment, like, what bank would
Speaker 4: you go to where you put in two thousand dollars
Speaker 4: into the account and you only get credited six hundred?
Speaker 4: Would you bank with a bank like that? That's what
Speaker 4: a mortgage payment is. Your first mortgage payment or FHA
Speaker 4: loan at three point five percent down is seventy percent interest.
Speaker 4: So you put in two thousand and the interest was
Speaker 4: fourteen hundred. That's a terrible transaction. So when we look
Speaker 4: at that, a single family home is a dangerous way
Speaker 4: to try to begin your real estate journey because if
Speaker 4: you're not careful, this is what's sick. If you're not careful.
Speaker 4: When you add in the interests, the private mortgage insurance,
Speaker 4: the property taxes, the homeowner's insurance, and the maintenance of
Speaker 4: that property, a single family home buyer can actually have
Speaker 4: more money going out of their pocket due to housing
Speaker 4: than someone who is renting the same square footage across
Speaker 4: the street. Now, people say well, Julian, my house appreciate.
Speaker 4: The appreciation only is covering the interest that you were
Speaker 4: going to pay to the bank. You're not really up,
Speaker 4: it's only covering the interest. And so we have to
Speaker 4: be very careful about calling a single family home an
Speaker 4: asset when it really isn't. And if you haven't leveraged it,
Speaker 4: if your money is stuck, even if it has appreciated,
Speaker 4: and your money stuck in the walls, then it's just
Speaker 4: sitting there doing nothing until you actually liquidate. And liquid
Speaker 4: eate doing means selling, and once you sell, you have
Speaker 4: no place to live. So this is very key. Now
Speaker 4: there's four financial benefits of multi family real estate. I've
Speaker 4: talked to you about cash on cash return, and so
Speaker 4: I have a duplex in New Orleans that I spent
Speaker 4: the price I didn't spend, but the price is three
Speaker 4: hundred thousand dollars. So let me just break down over
Speaker 4: the next thirty years how much that property is going
Speaker 4: to pay me. It does not look like a million
Speaker 4: dollar home, but it actually is when you actually look
Speaker 4: at the numbers. So over the next thirty years, that
Speaker 4: property is going to pay me six hundred and thirty
Speaker 4: eight thousand, dollars in cash flow. That's after principal interest, taxes,
Speaker 4: insurance capecks, or pairs of a vacancy rate. That's money
Speaker 4: in my pocket over the next six hundred over the
Speaker 4: next thirty years. Then the tax say savings on that property,
Speaker 4: money that I do not pay the government, will be
Speaker 4: two hundred and seventy eight thousand dollars. I'm getting two
Speaker 4: hundred and seventy eight thousand dollars in tax savings on
Speaker 4: a three hundred thousand.
Speaker 5: Dollars home because of the location of the property.
Speaker 4: No, because I get to depreciate that property over twenty
Speaker 4: seven point five years and all the expenses related to
Speaker 4: that property. So I'm actually reducing my tax liability by
Speaker 4: two hundred and seventy eight thousand dollars over thirty years.
Speaker 4: Then the principal payd down. Who's paying the principal, I'm not,
Speaker 4: the tennis are, So that's two hundred and twenty five
Speaker 4: thousand dollars. And then if this property appreciates by one
Speaker 4: percent every year for the next thirty years, that's an
Speaker 4: additional one hundred and four thousand dollars. So you add
Speaker 4: all that up, that's one point two million dollars. So
Speaker 4: this is a million dollar property, and I still have
Speaker 4: the property, which is also now I still have three
Speaker 4: hundred thousand of equity as in the property, so it's
Speaker 4: actually one point five. So this is simply off of
Speaker 4: a three hundred thousand dollars duplex. And when you see that,
Speaker 4: then it becomes a no brainer. See, a lot of
Speaker 4: people are hesitant to invest in multi family real estate,
Speaker 4: especially people who are getting this fast money through stock
Speaker 4: options and stock market investing, et ceter. It's it's great,
Speaker 4: and we need the fast money and the slow money,
Speaker 4: but multi family real estate it's actually a twenty five
Speaker 4: percent return. It's just not a cash on cash return.
Speaker 4: If I have a twelve percent cash on cash return,
Speaker 4: and then I add in those other benefits of the
Speaker 4: principal paydown, the tax savings, and the appreciation, my actual
Speaker 4: annual rate of return is around twenty five percent. Elon
Speaker 4: musk annual rate of return since he sold, since he
Speaker 4: exited PayPal, and to what he has today, his annual
Speaker 4: rate of return has been forty four point four to
Speaker 4: four percent. So if I'm able to get twenty five
Speaker 4: percent return, I think I'm doing pretty good. And a
Speaker 4: lot of people, you know, the stock market S and
Speaker 4: P five hundred. Guess what the rate of return is
Speaker 4: on the S and P five hundred over the past
Speaker 4: twenty years, everybody twelve percent. January first, two thousand to
Speaker 4: December thirty first, twenty twenty, the annual rate of return
Speaker 4: on the S and P five hundred was four point
Speaker 4: seven seven percent. Run you can go run the numbers right,
Speaker 4: and there's a lot more volatility in that as well.
Speaker 4: This is consistent. My daughter will be able to inherit
Speaker 4: these if I stop right now. Just what my portfolio is,
Speaker 4: my private portfolio right now, at the age of thirty six,
Speaker 4: my daughter will have twenty five thousand dollars in passive
Speaker 4: income for the rest of her life if I stop
Speaker 4: now right because of multi family real estate investing. So
Speaker 4: what I've done is I played the long term game first.
Speaker 4: So a lot of people, you know, they try to
Speaker 4: get rich quis games, but if they would have played
Speaker 4: the long term game a long time ago, they'd be
Speaker 4: a lot further along. So I've actually secured the long
Speaker 4: term game first. And then what that does is it
Speaker 4: frees me up to take greater risk in other avenues
Speaker 4: and other forms of investment that have more volatility. So
Speaker 4: that's been the way I played the game.
Speaker 5: You said your private portfolio.
Speaker 8: I'm just in my head, I'm thinking in your private portfolio,
Speaker 8: you still buying the properties through an LLC or.
Speaker 5: Is how does that work?
Speaker 8: Is it?
Speaker 4: In? Yeah, this stage, at this stage, so you can
Speaker 4: only have ten mortgages as an individual. So yeah, all
Speaker 4: of my purchases now are in my business name or
Speaker 4: in the LLC. So there's the parent LLC which is
Speaker 4: a holding company, and then each property has its own
Speaker 4: individual LLC and that's that's how I operate now.
Speaker 7: Yeah.
Speaker 4: Yeah, yeah, it makes it easier, everything's cleaner, it keeps
Speaker 4: the book clean.
Speaker 7: Yeah yeah.
Speaker 3: So what about mindset because I feel like, you know,
Speaker 3: we talked about like finance, and that's one hurdle that
Speaker 3: stops people. That's why I wanted to open up with financing.
Speaker 3: But it's not the only hurdle. I think a lot
Speaker 3: of times people just don't believe that they can buy
Speaker 3: a home or they just you know, it's especially if
Speaker 3: you've been written your whole life and you live in
Speaker 3: a city like New York. List is it's a far
Speaker 3: fetched idea, And I think the mindset is kind of
Speaker 3: stops people as well.
Speaker 4: Yeah, that's the reason my student succeed is to be
Speaker 4: focused on the mindset. Right, there's the physical real estate
Speaker 4: and then there's the mental real estate. And the fact
Speaker 4: that people are lacking intellectual property is the reason that
Speaker 4: they don't have physical property. They're missing the information up here.
Speaker 4: This is why they don't as manifested out here. So
Speaker 4: the biggest one of the biggest mindset shifts is and
Speaker 4: you saw me say this, that invests fast that people
Speaker 4: have to recognize that if you're renting right now, you're homeless.
Speaker 4: If you're renting right now. And I'm not saying it jokingly,
Speaker 4: and I'm kind of saying it joking, and I'm kind
Speaker 4: of serious because technically you are homeless. You literally do
Speaker 4: not have a home. You're not on the title, you're
Speaker 4: not on the deed. And when you look at an
Speaker 4: actual homeless.
Speaker 3: Person, technically homeless, yeah home not homeless like you're on
Speaker 3: the street, correct, but you just don't have a home
Speaker 3: a home homeless, yes, So when we look at the
Speaker 3: actual homeless person who's on the street, right, they probably
Speaker 3: dealt with childhood abuse, They probably.
Speaker 4: Dealing with mental illness. They have no money, no friends,
Speaker 4: no family, no shelter, no food, no job, none of that. Right,
Speaker 4: All they have is to clothes on their backs. And
Speaker 4: here all of us are. We have roof over ahead,
Speaker 4: We got the internet, one thousand dollars, computer, one thousand dollars, phone,
Speaker 4: long old resumes, all this education, people who love us, etc.
Speaker 4: How is it that that person who's sleeping on the
Speaker 4: bus bench owns as many properties as you do because
Speaker 4: all the advantages that you have. How is that possible?
Speaker 5: Right?
Speaker 4: And so when people recognize that they're actually homeless, and
Speaker 4: they start to change their subconscious mind because we say,
Speaker 4: what do people say, Oh, this is my apartment. You
Speaker 4: know you're dating somebody say, come over to my apartment.
Speaker 4: That is not your apartment. But we are subconsciously lying
Speaker 4: to ourselves when we call it my apartment or my
Speaker 4: house when it's actually not. And so what I actually
Speaker 4: encourage people to do when they join my program, I
Speaker 4: literally tell them start going and getting boxes, start packing up. Earners,
Speaker 4: listen up.
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Speaker 4: I need you start packing up, Go get boxes, because
Speaker 4: when I travel, and I know you all been on
Speaker 4: the road, right, do you start taking stuff out of
Speaker 4: your suitcase and hanging it all up and putting it
Speaker 4: in the drawers? No, you live out of your suitcase
Speaker 4: because you know that that place, that hotel is not yours, right,
Speaker 4: So why do we unpack and get comfortable in places
Speaker 4: that actually do not belong to us?
Speaker 7: That's like big, you know, big business.
Speaker 3: Yeah, So when we interview him, he was saying that
Speaker 3: he moved to Miami and he never got a TV.
Speaker 7: I don't think he got a cow. You just had
Speaker 7: a bed.
Speaker 3: And he promised his wife and his chap that the
Speaker 3: reason why he wasn't going to furnish the place because
Speaker 3: he was only going to be there for a temporary time,
Speaker 3: So he didn't want to get comfortable.
Speaker 4: Why get comfortable in a place that's time mine. People
Speaker 4: over here painting walls, you buying furniture for certain nook
Speaker 4: in somebody else's house. You're putting up bookshelves, You making
Speaker 4: it look nice. Everybody in the neighborhood thinks you own it,
Speaker 4: and you don't, So go start packing your boxes. Literally,
Speaker 4: people have closed in less than ninety days once they
Speaker 4: got their mind right. Like imagine being enslaved in Maryland,
Speaker 4: right Maryland, right below the Mason Dixon line. And now
Speaker 4: you've been a slave for forty years, and now you're
Speaker 4: on your deathbed and somebody tells you that the Mason
Speaker 4: Dixon line is right there by the horizon, by that
Speaker 4: tall tree. The Mason Dixon line was right there the
Speaker 4: whole time. But you didn't know it. You just weren't
Speaker 4: aware of it. Once you realize that the Mason Dixon
Speaker 4: line is actually that close, you run for it. And
Speaker 4: so the ability to acquire multi family real estate. People
Speaker 4: think you need to have a real estate license. People
Speaker 4: think that you need to have bought a single family
Speaker 4: home first. People have all these myths about what it
Speaker 4: takes to get in the game. People think that you
Speaker 4: need to have a ton of money saved. Literally, people
Speaker 4: have not gone to go get prepproved. You won't believe
Speaker 4: how many people have not even gone to go get preapproved.
Speaker 4: The reason they haven't gone to get pre approved is
Speaker 4: because their own perception of how they're shown up in
Speaker 4: the world. You know, everybody around us perceives us in
Speaker 4: this high way like your significant other, your friends or
Speaker 4: family see you in your best life. But we look
Speaker 4: at ourselves in the lowest way sometimes. And so what
Speaker 4: I tell people is go get pre approved. I don't
Speaker 4: care how you see your financial situation right now, Let's
Speaker 4: see how the bank sees your financial situation, and you'll
Speaker 4: be surprised. You thought that you could only get pre
Speaker 4: approved for three hundred thousand dollars was not enough to
Speaker 4: buy a multifamily in your market. But when you actually
Speaker 4: went to the lender and showed them what you had,
Speaker 4: they approved you for five hundred thousand dollars. You could
Speaker 4: have been in the game a long time ago, but
Speaker 4: you were afraid to go get pre approved. You were
Speaker 4: afraid to open up your financial house and let somebody
Speaker 4: in and come see, and you'll realize that it's not
Speaker 4: as bad as you think. Because this is a physical,
Speaker 4: tangible asset, real estate, banks are more willing to lend
Speaker 4: against that than your business idea that you have your
Speaker 4: ten page business plan on. So go get pre approved.
Speaker 4: It costs you nothing to go get pre approved. You're
Speaker 4: going to ask for your W twos, some pay stuffs,
Speaker 4: your tax returns, your bank statements. Go literally go to
Speaker 4: the bank that you have your checking or savings account
Speaker 4: at and start there. I don't care what your credit is.
Speaker 4: All we want to do is see what number they
Speaker 4: come back to you with. And if that number is
Speaker 4: too low to buy multi family real estate in your market,
Speaker 4: then let's fix the things. If it's your credit, then
Speaker 4: let's work on your credit. If it's your savings, let's
Speaker 4: work on your savings. If it's your income that they
Speaker 4: say is too low. Then let's work on your income.
Speaker 4: But let's be in the know. Let's start from that awareness.
Speaker 4: But some people have been able to get pre approved
Speaker 4: for more than they needed, but they have been afraid
Speaker 4: because this whole we got this wave of people who
Speaker 4: are just focused on perfect credit scores. Right now, the
Speaker 4: purpose of credit is to be leveraged and to you
Speaker 4: be used. Some people have better credit scores than me
Speaker 4: but have no assets. Right, So we're not just trying
Speaker 4: to create perfect credit scores. We're trying to build wealth,
Speaker 4: and not just generational wealth. We're trying to create regenerational wealth.
Speaker 4: And regenerational wealth is wealth that transcends multiple generations. Generational
Speaker 4: wealth is passed down one generation. We're seeking to create
Speaker 4: regenerational wealth and enter into what I call the asset class.
Speaker 4: Right there's only four classes of people. There's lower class,
Speaker 4: middle class, upper class, and asset class. And only one
Speaker 4: of those classes of people is free. It's the asset class.
Speaker 4: This is the top line on your sweatshirts. It's the
Speaker 4: asset class. The asset class. People have passive income that
Speaker 4: covers their costs of living. Even if I'm in the
Speaker 4: upper class and I have a good paying job like
Speaker 4: my mom did. I'm still not free. I'm actually more
Speaker 4: free than some fortune five hundred CEOs right now, even
Speaker 4: though I don't make the money that they make, because
Speaker 4: I own my time, because I have assets that cover
Speaker 4: my entire cost of living and more so, this is
Speaker 4: what the goal is. And so for me, the multifamily movement,
Speaker 4: it's not just about multi family real estate. That's what
Speaker 4: I realized recently. It's about multiple families come together to
Speaker 4: create regenerational wealth and enter the asset class. And the
Speaker 4: first asset that we're buying together is multi family real estate.
Speaker 4: But beyond that, I expect to be in these people's
Speaker 4: lives for the rest of their lives as we continue
Speaker 4: to create regenerational wealth together.
Speaker 8: I'm glad you broke down asset class because I wanted
Speaker 8: to talk to you about the difference between being in
Speaker 8: poverty and being poor.
Speaker 4: I know that's something that you have like, oh my goodness,
Speaker 4: and a follow up after that, yeah, yeah, yeah, so
Speaker 4: this is this is you know. I wrote Rich and Righteous,
Speaker 4: the Spiritual Secrets and Manifesting More Money and Mastering your Mind,
Speaker 4: and in there I talk about the difference between being
Speaker 4: poor and being in poverty.
Speaker 7: Oh, it's shout out. I appreciate it.
Speaker 5: I didn't even notice.
Speaker 4: I appreciate that, of course, of course, of course. I
Speaker 4: mean it's it's really about moving our people from poverty
Speaker 4: consciousness to well consciousness, because I realize that if we
Speaker 4: give all these financial strategies to people with the poverty consciousness,
Speaker 4: that none of them will take root. And so we
Speaker 4: have to be very careful and make sure that the
Speaker 4: soil is set first, and that's where the mind comes in.
Speaker 4: So if I'm born into poverty, poverty is just an
Speaker 4: external condition. It is not who I am. But what
Speaker 4: happens is when a black boy or black girl is
Speaker 4: born into poverty, they look around them and they base
Speaker 4: their identity based on what they see, and they say,
Speaker 4: I am poor because they see poverty. But that's not
Speaker 4: the truth of your identity. The truth is that you
Speaker 4: are abundant, and abundance is your birth right. And the
Speaker 4: reason that I think we as a collective, most of us,
Speaker 4: have been born into those conditions is actually to prove
Speaker 4: how rich we are. We were born into poverty, approve
Speaker 4: how rich we are. If I'm Paris Hilton, right, and
Speaker 4: I'm born into wealth, I can't prove how rich I
Speaker 4: am because I already had it, it was already handed
Speaker 4: to me. But if I'm born into poverty, I actually
Speaker 4: can demonstrate that I am abundant regardless of my external condition.
Speaker 4: And so this is a mindset. So never say I
Speaker 4: am poor? Right, I am are the two most powerful
Speaker 4: words in the English language. Never say I am poor.
Speaker 4: You can say I was born into poverty, but that
Speaker 4: is not who I am. And we've seen all these
Speaker 4: albums that you see here, people have demonstrated that my
Speaker 4: external condition does not define me. And we've seen people
Speaker 4: create abundance out of nothing. And jay Z said, put
Speaker 4: me anywhere on God's green earth, I trip my worth.
Speaker 4: That means that regardless of what I have in my
Speaker 4: pocket and what's around me, I know that the true
Speaker 4: wealth is actually inside of me. And so when we
Speaker 4: start there in the mindset, I believe that it's a
Speaker 4: more fertile soil for us to actually implant these wealth
Speaker 4: seeds and these strategies and that they'll take root and
Speaker 4: they'll they'll grow from there.
Speaker 3: So how'd you get into the education aspect of it?
Speaker 3: Because I want to talk about the multi family movement.
Speaker 3: You're an investor, you realize, you know you can make money,
Speaker 3: change your family. What prompted you to actually building a community.
Speaker 7: Yeah.
Speaker 4: So I'm a real estate investor first, then a real
Speaker 4: estate educator, then a real estate developer. And I was
Speaker 4: speaking at colleges and companies for from two thousand and
Speaker 4: nine when I quit my job up until like two
Speaker 4: thousand and here was about a ten year run. And
Speaker 4: I was taking the money that I was making from
Speaker 4: speaking and I was pouring it into real estate. And
Speaker 4: I kept getting more questions about real estate then I
Speaker 4: would get about anything else. And so I said, let
Speaker 4: me start teaching people how to do this. And so
Speaker 4: my first student, Chris cosy Row, he actually hands with
Speaker 4: marketing for a Queen of Fool or whatnot, and he
Speaker 4: closed on a four plex near usc using NAKA. He
Speaker 4: closed on a four plex in near usc And that
Speaker 4: was my first success story outside of myself. And from
Speaker 4: there I just started teaching it to more and more people.
Speaker 4: And I just knew that people needed this information in
Speaker 4: this education. And while multi family real estate investing it
Speaker 4: looks similar to single family purchasing on the surface, there's
Speaker 4: just so many more nuances that you need to know
Speaker 4: to make sure that you buy right. And so I
Speaker 4: started the multifamily movement. It was July twenty nineteen, and
Speaker 4: today we've helped two hundred and sixty one sixty two people. Actually, yeah,
Speaker 4: somebody just closed yesterday on multi family real estate all
Speaker 4: across the country. And the thing about the multi family
Speaker 4: movement that's different is that I realized that and I
Speaker 4: think you all say this information is on us, the
Speaker 4: executions on you. I realized that I'm not actually selling
Speaker 4: them information. What I'm giving them is an accountability structure
Speaker 4: and a system to make sure that they implement the information.
Speaker 4: And so we have market meetups like you talk about
Speaker 4: with the EYO community. We have market meetups where you're
Speaker 4: actually connecting with other members. You have a buddy in
Speaker 4: the program. We have our weekly coaching calls. It's all
Speaker 4: about the accountability and the structure to make sure that
Speaker 4: you implement the information. We know better, but we just
Speaker 4: don't always do better. We got books on our shows
Speaker 4: that we intended to read to change some aspect of
Speaker 4: our lives. The information is there. You wanted to lose
Speaker 4: weight last year. There's free videos on YouTube. Hit trainings
Speaker 4: on YouTube, there's free recipes on Google. The information was there,
Speaker 4: but there was still something blocking you from actually getting
Speaker 4: to the finish line. And so I realized that because
Speaker 4: only seven percent of people complete online courses when left
Speaker 4: up to their own devices. And so that's what our
Speaker 4: commitment is, and that's what I'm trying to push on
Speaker 4: all of us because we are teaching liberation arts education.
Speaker 4: What was shoved down our throat was liberal arts education.
Speaker 4: Liberal arts education will cost you. I don't need to
Speaker 4: know anything about Shakespeare. I don't care about Shakespeare, right,
Speaker 4: but liberation arts education will free you. And what we
Speaker 4: have right now, what's happening, and you are all spearheading
Speaker 4: this movement is liberation arts education. When people know these things,
Speaker 4: they can get free.
Speaker 8: Right.
Speaker 4: But it's not just about the information, it's about how
Speaker 4: do we make sure that they implement the information. Because
Speaker 4: they implement one of ean strategies, want to trapper strategies,
Speaker 4: one of your strategies, one of my strategy, one of
Speaker 4: mass strategies. When they implement these things, we know that
Speaker 4: they're they're not only their lives, but their families lives
Speaker 4: will be changed forever.
Speaker 3: So and you know, It's one of these things that's
Speaker 3: interesting because I always said, like, you know, real estate,
Speaker 3: not that they teach in college, but they actually start
Speaker 3: starting and teaching card. I think it's actually because there's
Speaker 3: so many online education but like NYU has a real
Speaker 3: estate program, but n why you call sixty thousand dollars
Speaker 3: a year fact.
Speaker 7: So it's like, hey, I'm not really even show what.
Speaker 3: They're teaching in their real estate program, but you're paying
Speaker 3: sixty thousand dollars a year. And that's the beauty of
Speaker 3: online education where it's like, directly, this is what I
Speaker 3: want to know. You don't have to go through everything
Speaker 3: else that comes with that, right, you know, because you
Speaker 3: just can't take real estate. You got to take math
Speaker 3: and science and other stuff. Even in college you still
Speaker 3: gotta take all the other stuff and be there for
Speaker 3: four years where it's like you can actually implement this
Speaker 3: in six months a year, you know, be in a
Speaker 3: position to actually execute. And it's like mentorship, yeah in
Speaker 3: a sense right where you're like you're part of a community.
Speaker 3: You have you know, meetings and online zoom call stuff
Speaker 3: like that. You know, people always ask like, you know,
Speaker 3: can I get mentored? Well, that's kind of like the
Speaker 3: online communities have turned to the mentorship.
Speaker 4: Exactly one hundred percent. I don't have the capacity to
Speaker 4: do one on one. I have too many people to free, right.
Speaker 4: But if I can create a community of people who
Speaker 4: were supporting each other on this singular journey, which is
Speaker 4: to acquire multifamily real estate, then I know that you're
Speaker 4: gonna get to your ultimate destination and get free. Harriet Tubman,
Speaker 4: she didn't take people one at a time. She made
Speaker 4: nineteen trips below the Mason Dixon line, and she took
Speaker 4: cohorts of people. That's how she freed three hundred people.
Speaker 4: That's why my first focus is three hundred people. She
Speaker 4: took cohorts of people. She didn't have time to take
Speaker 4: one person at the time, right, You had to take
Speaker 4: groups of people. And so that's what we're able to create.
Speaker 4: And I think the pandemic actually pushed us online in
Speaker 4: that way. And when I look at Investmast, when I
Speaker 4: look at you all traveling in different cities. We're also
Speaker 4: making sure that the online is complemented with the offline
Speaker 4: experience so that people can build real relationship, not just
Speaker 4: profile pictures, but real relationships. Because we know that collaboration
Speaker 4: over competition is where it's at.
Speaker 5: Yeah, I was staying in my mind.
Speaker 8: I was sticking inside of the community because what we
Speaker 8: talked about a lot, we had group economics, group economics. Yeah,
Speaker 8: if I didn't have the fund or if I didn't
Speaker 8: have the finance, are you seeing people working together to say, look,
Speaker 8: I have this, I have that, let's come together to
Speaker 8: get this property inside of it.
Speaker 4: Yeah. So half the members of the buy Back Band
Speaker 4: Rouge Fund, there's about four hundred and sixty one of
Speaker 4: us who invested. They all came from the multi family movement.
Speaker 4: So not only are they working on getting their first property,
Speaker 4: but any other additional capital that they had, they decided
Speaker 4: to invest in a larger fund where we're developing over
Speaker 4: one hundred units out in Baton Rouge, Louisiana. So yeah,
Speaker 4: and that comes from the trust of the community, and
Speaker 4: that comes from working together that what that allows us
Speaker 4: to do is buy bigger properties at AUNT. It's like, Okay,
Speaker 4: we're gonna put our money together and we're gonna go
Speaker 4: to costco. Right, but we're not buying ketchup now, we're
Speaker 4: buying real estate at a discount. So that's the power
Speaker 4: of group economics, like we paid lip service to it,
Speaker 4: but you know, myself and Anthony Kimball, Chris, we know
Speaker 4: people have executed the crowdfunding methodology and it's really powerful
Speaker 4: when done right because everybody can participate at the level
Speaker 4: that they feel comfortable. Like everybody is a needed thirty
Speaker 4: thousand dollars down payment. Right, people can say I'm putting
Speaker 4: in a thousand dollars and it's still going to multiply
Speaker 4: it at the same rate. It's just not as much
Speaker 4: money in. So that's the power of the crowdfunding methodology.
Speaker 3: So I know you and MG shout out to our partner,
Speaker 3: MG the Mortgage Guy. MG the Mortgage Guy has what
Speaker 3: I call the Encyclopedia for real estate with his Home
Speaker 3: by Blueprint one and two with literally like everything you
Speaker 3: need to know about buying a home and refinancing a
Speaker 3: home and two o three k LANs. All of that
Speaker 3: is really like an encyclopedia. And he put together a
Speaker 3: great body of work for the Volume one and the
Speaker 3: Volume two. And then we talked about your multifamily movement.
Speaker 3: So you guys actually combined forces, yes, right, and you
Speaker 3: put together a Black Friday deal which was wildly popular,
Speaker 3: wildly successful. So we're gonna have that same offer for
Speaker 3: EYL for anybody that's interested in. The website is www
Speaker 3: dot get four three two one dot com. We'll put
Speaker 3: the link in the description of this video and audio
Speaker 3: and then also on the alumni tab also. So once again,
Speaker 3: that is actually a combination of MG the Mortgage Guys
Speaker 3: Volume one, Volume two, home Boys Blueprint, and the multifamily
Speaker 3: movement community, which, as he said, includes you know, weekly
Speaker 3: calls and you know, all of the things that you
Speaker 3: need to get up and running to actually have the confidence,
Speaker 3: the knowledge, the information and the support to actually, you know,
Speaker 3: not just purchase one home, but you know, become a.
Speaker 7: Real estate mogul. Why not?
Speaker 5: This is their purple tap.
Speaker 3: Yeah, So the total the whole combin I believe it's
Speaker 3: a seventy seven percent off of the total value. So
Speaker 3: seventy seven percent off of the total value. And literally, honestly,
Speaker 3: because I'm familiar with both of the situations, there's nothing
Speaker 3: else that you really need in real estate, like especially
Speaker 3: if you doing the multifamily home. This is literally like
Speaker 3: the equivalent of going to college.
Speaker 5: I mean, there's no cap on that.
Speaker 8: Like I really went through Mats course rot the assessments
Speaker 8: for watched every video was incredible.
Speaker 5: Then I got to watch you guys, and I said,
Speaker 5: oh is it? He is the game?
Speaker 4: Yeah, this is the game.
Speaker 8: That's a tremendous deservice if you're not involving it. So yeah,
Speaker 8: congrats on it as.
Speaker 4: Incredible, appreciate that. So Matt and I we've been running
Speaker 4: parallel pass with quite some time. He's helped about he's
Speaker 4: financed about half of the multi family movement members through
Speaker 4: the Garland Group, and we said, we just have to
Speaker 4: formalize this partnership, and so we are committed to actually
Speaker 4: taking another three hundred people to the finish line this
Speaker 4: year in terms of multi family the state. And so
Speaker 4: this is what the collaboration has come to get. Four
Speaker 4: three two one is how you can get ten doors
Speaker 4: in four years using FHA several times and running the
Speaker 4: plays that we tell you to run. If you follow
Speaker 4: the blueprint, you can't go wrong. And so yeah, we're
Speaker 4: excited about it. People are already getting wins inside of
Speaker 4: the program. So we want to take as many people
Speaker 4: because it's not just about one property. One property should
Speaker 4: get you to rent mortgage freedom. But we're trying to
Speaker 4: get you to full freedom, and you're gonna need multiple
Speaker 4: doors in order to get there.
Speaker 3: Yeah, And like I said, real liud testimony, Matt personally
Speaker 3: told me he was like these people in Julian's program, Man.
Speaker 7: They flooding me. They flooded me.
Speaker 3: But like I said, that's a good thing because that
Speaker 3: means that they're actually purchasing homes. So if you want
Speaker 3: to take that next step and really, you know, get
Speaker 3: your freedom, highly highly suggests checking it out. And like
Speaker 3: I said, you know, special offer for all the earners.
Speaker 3: Anybody that's interested in anybody listening to this get four
Speaker 3: three two one dot com appreciate that, brother, before you leave.
Speaker 7: I got a I got a few more questions. One
Speaker 7: in particular.
Speaker 3: So we had another gentleman on the podcast that you know,
Speaker 3: people may be familiar with, Grant Cardon, and he has
Speaker 3: an interest in philosophy where his thing is rent where
Speaker 3: you live and invest in real estate.
Speaker 7: But where you live rent that. How do you feel
Speaker 7: about that?
Speaker 3: Man?
Speaker 4: I've thought about that and I don't agree. I don't agree,
Speaker 4: and that's okay. Grant has a different perspective on real
Speaker 4: estate and money. He's able to write off his lifestyle
Speaker 4: grant is an LLC. Not everybody's operating as an LLC.
Speaker 4: So he's able to expense everything that he does. So
Speaker 4: if he goes and stays for five thousand dollars a
Speaker 4: night condo in Miami, he's able to write that off.
Speaker 4: The average person doesn't set up structurally or doesn't have
Speaker 4: the accounting team to ensure that that all gets written off.
Speaker 4: And so be careful because these platitudes that people put out,
Speaker 4: if you don't know the back end in terms of
Speaker 4: how to actually execute it, it may not work for you. Yeah,
Speaker 4: it ain't gonna look the same. What I do know
Speaker 4: is that for multifamily real estate, if you are literally
Speaker 4: able to get rid of your housing expense for the
Speaker 4: rest of your life, it will guarantee that you and
Speaker 4: your family are millionaires.
Speaker 7: Right.
Speaker 4: That's simpler and plain. One thousand dollars a month.
Speaker 5: Right.
Speaker 4: If you were able to, say one thousand dollars a month,
Speaker 4: and you were able to invest at at just six
Speaker 4: percent annually for the next thirty years, that's one million,
Speaker 4: fifteen thousand, five hundred and ninety dollars. If we just
Speaker 4: did this one thing. I'm not asking you to pick
Speaker 4: the right crypto. I'm not asking you to go find
Speaker 4: the right of NFT. I'm not even asking you to
Speaker 4: find the next company that's going to break through in stocks.
Speaker 4: Just literally get rid of your housing expense and that
Speaker 4: will ensure that your family become a millionaire. So that's
Speaker 4: that's been the focus, that's been my lane in this
Speaker 4: whole revolution. And I know that once people have that
Speaker 4: particular thing established, then it frees them up to take
Speaker 4: advantage of all the other opportunities that are available.
Speaker 8: When you were speaking about the property earlier, when you
Speaker 8: did the math and how it created till one point five, yeah,
Speaker 8: I'm thinking to myself, is this the property talking about
Speaker 8: how you had a million dollars in real estate by
Speaker 8: starting with ten thousand.
Speaker 5: It's the same situation in the situation, okay, gotcha.
Speaker 4: The same situation. It just you have to run. It's
Speaker 4: knowing the numbers. It's knowing the numbers. When you see
Speaker 4: that number, those numbers play out like that. It's just
Speaker 4: like everything I get. I'm dumping into it because this
Speaker 4: is an asset that is passive. Also, it's not like
Speaker 4: I created an active business. Perhaps my daughter doesn't want
Speaker 4: to take over this kind of business that I created
Speaker 4: over here. Perhaps she's not interested in that, but this
Speaker 4: can always be managed by a property manager that takes
Speaker 4: six to ten percent of the rents forever.
Speaker 3: Yeah, it's extremely important, especially the gentrification because it's like
Speaker 3: so many different places. You see, Like we was in
Speaker 3: La Shout Out my Boys, stick Watch. He took us
Speaker 3: to Watts and I think it was the Jordan's down
Speaker 3: projects like Grape Street, and I was looking at I'm like,
Speaker 3: this doesn't really look like how I looked before. You
Speaker 3: can still see that this project, but there's also town homes. Yeah,
Speaker 3: so yeah, what I found out is that they're actually
Speaker 3: in the transition I believe, of tearing down the projects
Speaker 3: and turning them into town and town homes actually look
Speaker 3: really nice. They look like state of the art. Yeah,
Speaker 3: they're like really dope. So he was telling me like, yeah,
Speaker 3: you know, all of these are new, like within the
Speaker 3: last couple of years. So I say that to say,
Speaker 3: same story, no matter whether you're in New York.
Speaker 5: That's part of that story. What who landed on the helicopter?
Speaker 7: Huh?
Speaker 5: He said.
Speaker 7: Trump?
Speaker 5: Right, Trump landed his helicopter right in the middle of
Speaker 5: the grounds.
Speaker 3: Like no, but No, that was where they built the
Speaker 3: strip right down street, the strip malls where he landed
Speaker 3: hel So that was another thing. So like, yeah, I
Speaker 3: guess there was like just vacant landing. So Trump he
Speaker 3: said he came, he landed the helicopter. He was like, yes,
Speaker 3: it's pretty messed up.
Speaker 10: Man.
Speaker 7: He was like, what y'all need that? And they left.
Speaker 3: So long story short, I guess they got some government funds.
Speaker 3: So now they got a strip mall. They got a
Speaker 3: strip mall, they got luxury town homes that's being built.
Speaker 3: And this is right next to next Jordan. For perspective, Jordan,
Speaker 3: if you heard of like Great Street, I'm pretty sure
Speaker 3: you heard that pretty famous Minutes to Society. That's where
Speaker 3: Minutes of Society was filmed.
Speaker 5: So white man can't jump out of scene over.
Speaker 7: It's one of these things with gentrification always happens. It
Speaker 7: always happens.
Speaker 8: It's got to be you had to have the vision
Speaker 8: to see it, you know what I'm saying, Like we
Speaker 8: see these things. Yeah, yeah, like people most people say, oh,
Speaker 8: there's a new Starbucks. Oh there's a five luxury car dealerships. Wait,
Speaker 8: Chipotle said, waiting, Yeah, they put a golf shopping to like, yeah,
Speaker 8: these are all the signs that there's money Tesla's now
Speaker 8: in your neighborhood.
Speaker 4: Right right, right, But let me explain something really quickly.
Speaker 4: So what we've been calling gentrification is actually colonization. So
Speaker 4: gentrification is actually a good thing. It is actually the
Speaker 4: upliftment of our community. If you look at the dictionary definition,
Speaker 4: it's actually the upliftment of community. So in Brooklyn, there's
Speaker 4: a block known as the greenest block in Brooklyn. Right,
Speaker 4: these are all black owners. And because they decided to
Speaker 4: plant gardens in the front I think on Macon Street
Speaker 4: in Brooklyn and best I So because they all decided
Speaker 4: to plant gardens, they collectedly came together, we're gonna plant gardens.
Speaker 4: We're gonna all do the facize of our homes. Guess what,
Speaker 4: they all force appreciation, their equity all went up. But
Speaker 4: it's a block of all black owners. So they gentrified
Speaker 4: their own block. What we've been calling gentrification. That see
Speaker 4: colonization and colonization is when outsiders come in and try
Speaker 4: to displace the natives of that neighborhood intentionally. So colonization
Speaker 4: is it has attended to it, right, has a negative
Speaker 4: history to it. But that's actually what has been occurring.
Speaker 4: When you have people come into the Shaw in DC
Speaker 4: and you have people complaining about the music that's been
Speaker 4: played in the Shaw for thirty years, then that's colonization
Speaker 4: that is seeking to happen because you're trying to displace
Speaker 4: the culture that is there. So we need to call
Speaker 4: a spade a spade. If it's colonization, is colonization. But
Speaker 4: gentrification is actually the uplifting. I want the hood to
Speaker 4: look better. I don't want the hood to be the
Speaker 4: hood forever. I want everybody to have higher quality standard
Speaker 4: of living. And yes there are some costs associated with that.
Speaker 4: The rents might actually have to increase for you to
Speaker 4: live in a decent way, and so we all have
Speaker 4: to step our game up. But gentrification is not the negative.
Speaker 4: Thing is the colonization, and we just haven't been calling it.
Speaker 8: So centrifile your hood before those people do it, claim
Speaker 8: imminent domain.
Speaker 5: And what have you? People moving the facts this was doing.
Speaker 4: Yeah it wasn't what he was doing.
Speaker 3: Yeah, well it's been a pleasure, my brother. How can
Speaker 3: the people follow you? Social media handles, anything else that
Speaker 3: you want to lead before we head out yeah, so
Speaker 3: rent free dot com, Rent free dot com. If you
Speaker 3: want to learn this game, you can go to rent
Speaker 3: free dot com. I'll show you how to finance find
Speaker 3: a finalized multifamily real estate deals so that you can
Speaker 3: close on your first property within the next year. They
Speaker 3: you have, what's your social media handle, It's Julian Gordon
Speaker 3: j U L L I E N Gordon g O R.
Speaker 5: D O N.
Speaker 3: Yes, and don't forget get four three two one dot com.
Speaker 3: That is the special offer that him and a brother MG,
Speaker 3: the mortgage guy together, the mortgage god, everything, everything that
Speaker 3: you need to know to get up and running and
Speaker 3: get into this real estate game and really start to
Speaker 3: make some money. Said, that's a special offer seventy seven
Speaker 3: percent off the total value of the package, strictly on
Speaker 3: that website, only on that website. So yeah, thank you
Speaker 3: for that. Appreciate it, and thank you guys for rock
Speaker 3: on you anything you want to say.
Speaker 5: Liberation Arts, we we get that. Yeah.
Speaker 8: Shout everybody on Uya University, Shout out to the Mergened team,
Speaker 8: Shout out everybody on page on this is this is
Speaker 8: one of those I appreciate you coming up by the
Speaker 8: long over due.
Speaker 7: Yeah, yeah for sure. Thank you guys for rocking with us.
Speaker 7: We'll see you next week.
Speaker 6: Peace my graduates from my school being forced bad drop
Speaker 6: b Drop, Mike Drop bad drop drop.
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