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Speaker 1: It's time forward. The b a q a A, the

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Speaker 1: b a q A what is saying the b a

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Speaker 1: q eight with Manda, the b a q a with

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Speaker 1: to today.

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Speaker 2: Let b a q a A.

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Speaker 1: Welcome to Brade bish question answers. You have questions, We

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Speaker 1: have some answers. Although we're not your mom and your cousin,

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Speaker 1: your financial Adidas all your lawyer are two very smart,

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Speaker 1: brilliant dare I say brown girls who know a little

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Speaker 1: thing about career, money, personal finances. You know what I'm saying, entrepreneurship.

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Speaker 1: So you know we're here to answer some questions.

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Speaker 3: Well, that's a dead of winter. I'm a dead of winter,

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Speaker 3: so I don't know if I still fit in the

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Speaker 3: brown category. I'm still pale.

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Speaker 1: You're broad and spieling.

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Speaker 3: Anyway, we have some lovely questions. If you guys want

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Speaker 3: to be have your questions answer on the show, just

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Speaker 3: slide into our d ms on ig. We're at brand

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Speaker 3: Amission Podcast or you can email us Bredandmission Podcast at

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Speaker 3: gmail dot com. Yeah, so let's get into it. Hey Taylor,

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Speaker 3: all right? Our first question comes from Taylor, who says,

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Speaker 3: I just got engaged and I'm looking for advice on

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Speaker 3: how to start planning financially. We currently live together and

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Speaker 3: split our household bills fifty to fifty depends on the

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Speaker 3: season and if we use the AC or not. Okay,

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Speaker 3: conet is crazy. We take turns getting groceries for the house,

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Speaker 3: although I shop a bit more since I'm working in

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Speaker 3: the office and don't always pack a lunch. We make

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Speaker 3: just about the same amount of money and have kept

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Speaker 3: our finances separate. I'm planning to do pre mariital counseling

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Speaker 3: with my fiance and wonder if financials will be brought

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Speaker 3: up in those convos. We both have trauma around a

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Speaker 3: parent abusing household finances. I know I prefer to keep

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Speaker 3: all household bills in one bucket and the rest separate.

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Speaker 3: How do you all start to share finances with partners?

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Speaker 3: Were there any strategies you employed to start saving for

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Speaker 3: a wedding? Do you have recommendations on the best or

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Speaker 3: easiest joint accounts? Ally keeps popping up? Thanks for any

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Speaker 3: insights you can provide. Y'all are the bomb.

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Speaker 1: Ooh first of all day day.

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Speaker 3: It's what it? Yeah, it's engagement season. Congrests. Oh my goodness,

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Speaker 3: this takes me back.

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Speaker 1: Yes, to early day introduced like combining finances with my

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Speaker 1: husbe too soon.

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Speaker 3: I was like I was in my I had just

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Speaker 3: you know, when we met in twenty fourteen, I had

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Speaker 3: been a few years into my career as a personal

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Speaker 3: finance journalist, poor Husbee or Enrique at the time, because

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Speaker 3: I was just I was kind of preachy. I was

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Speaker 3: very preachy. I used to really put people off my

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Speaker 3: friends and family because I'd be, like, what you should

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Speaker 3: do is I'm just like a hermione. I just know

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Speaker 3: it all and I want everyone to know. And I

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Speaker 3: had a good place like I was coming from. You know,

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Speaker 3: I wanted to help, but I hadn't yet learned how

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Speaker 3: to wait for them to ask me for help. But

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Speaker 3: I remember our early before moving in together, which we

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Speaker 3: moved in together less than a year after dating. I

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Speaker 3: think just because like Lisa's New York kind of rush

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Speaker 3: you into decisions sooner than you may otherwise rush. But

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Speaker 3: we had dinner and I broached the subject of like

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Speaker 3: our finance is at that dinner and it was fine.

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Speaker 3: Like we talked about splitting rent fifty to fifty. We

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Speaker 3: talked about how much do you earn? Here's what I

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Speaker 3: earn and also moving in together, Like we talked about

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Speaker 3: is this a long term do you see a future

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Speaker 3: with me? You know, I didn't want to live with

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Speaker 3: him if he didn't think he'd one day marry me,

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Speaker 3: bless his heart. And then I would say around that time,

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Speaker 3: I just got more feisty. I was like, show me

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Speaker 3: your credits core. I want to see your credits core.

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Speaker 3: Why don't you show me your credits cor? And I

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Speaker 3: think it was more my o. I think he might

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Speaker 3: have just shown me or told me if I hadn't

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Speaker 3: been so much like we must find if you don't

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Speaker 3: show me, you don't trust me, you don't let me.

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Speaker 3: I was just a little extra. So yeah, I had

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Speaker 3: my ups and downs early in our relationship, kind of

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Speaker 3: talking about finances. We did do pre mariital counseling, but

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Speaker 3: finances didn't come up. I think you're gonna have to

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Speaker 3: like bring that up yourselves as a topic that you

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Speaker 3: want to work on, like set the intention of in therapy.

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Speaker 3: This will be one of the things we talk about.

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Speaker 3: We more talked about like I don't even remember. God, honestly,

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Speaker 3: I think it was premarital counseling is fine, but I

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Speaker 3: almost feel like don't forget about that when you get

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Speaker 3: like year five, you know, six seven, like you need

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Speaker 3: more counseling. So we started counseling again just earlier this year.

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Speaker 3: But yeah, that was that was our early early arguments

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Speaker 3: about it. We're around me just being a little too intense.

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Speaker 1: Yo, Mandy, there's a reason why we are friends. Because

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Speaker 1: that was there almost to the tea, including in the

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Speaker 1: credit score. He was like, I don't know. I was like,

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Speaker 1: let's sideup for a credit carma right.

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Speaker 2: Now, Like get in your laptop and you're I did

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Speaker 2: that girl of a miracle that they put up with

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Speaker 2: the pools anyway, Yeah, so to Mandy's point, I was

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Speaker 2: also aggressive and very annoying.

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Speaker 1: I was just like with my family and friends saying.

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Speaker 1: I was like, girl, I know the things you know now,

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Speaker 1: I don't do that much. I was like, you know,

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Speaker 1: because also there was just a lot of things that

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Speaker 1: I knew that he didn't know. So for example, he

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Speaker 1: had gotten a secured card and he was like, oh,

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Speaker 1: they told me that you like, you know, run it

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Speaker 1: up and just pay a little bit a month. And

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Speaker 1: I was like, who told you that? The people who

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Speaker 1: are charging you interest? Now, I was say paid off

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Speaker 1: in full. Do you have the money? It was maybe

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Speaker 1: like four or five hundred dollars. He said, yeah, he

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Speaker 1: paid it off. Credit score jumped over one hundred points

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Speaker 1: because he didn't have much credit history. So when you

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Speaker 1: don't have a ton of credit history, one really great

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Speaker 1: decision can make a huge impact because your credit history

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Speaker 1: is an average of your choices. So if you only

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Speaker 1: have two grades, one A will make a B and

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Speaker 1: A you know. And so so what we started to do, though,

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Speaker 1: is so I had to learn because my aggressive ways

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Speaker 1: we're not working. I remember he used to call me

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Speaker 1: budget East to bully. He said, everybody, Oh, we knew

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Speaker 1: you are Budget Easter bully.

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Speaker 3: Everyone else thinks we're so nice. But partners, though, said down.

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Speaker 1: I was like whatever. So but I learned that my

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Speaker 1: bullying ways were actually not working. So I learned to

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Speaker 1: find what I used to call the common denominator, like

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Speaker 1: something that we both agreed upon without any push. So

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Speaker 1: in the beginning I noticed that like the easiest common

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Speaker 1: denominator for Jarell and I was alyssa. You know, my

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Speaker 1: bonus starter that like if he spent money on something,

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Speaker 1: I thought it was frivolous. I'm like, oh, that's fine,

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Speaker 1: but we all still put money aside for Alyssa, right,

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Speaker 1: and he would because there's never a time that he

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Speaker 1: would ever say I'd rather the sneakers than put something

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Speaker 1: aside for a listle. So he'd be like, oh, ooh,

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Speaker 1: you're right. And so that's in the beginning to kind

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Speaker 1: of loosen him up to make the financial choices that,

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Speaker 1: quite honestly, I thought was the right one that you

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Speaker 1: want to yes, that I would like, you know, I

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Speaker 1: would like the comment when it was like, there's never

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Speaker 1: any pushback when it comes to Alyssa. And then I

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Speaker 1: added a new one because I was traveling and he'd

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Speaker 1: be like, oh, I want to, you know, travel with you.

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Speaker 1: And I be like, okay, well, I'm going to open

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Speaker 1: up this online only savings account and you can open

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Speaker 1: up a separate one, which she did, and when I

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Speaker 1: put the money away for savings, you should too, so

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Speaker 1: that way the next trip we go on, we can

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Speaker 1: go together, so there's never pushback on vacation. And so

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Speaker 1: I did that, quite honestly for a long time before

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Speaker 1: I was able to brouch other things like I think

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Speaker 1: your car noticed too high, maybe we should surrender the car.

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Speaker 1: I think we should start saving for a wedding. I

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Speaker 1: think we should start saving for a house. By the

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Speaker 1: time we bought this house that I live in now,

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Speaker 1: we were able to pay for a cash because it

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Speaker 1: was like fifty percent off because it was a foreclosure.

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Speaker 1: We had gotten to a really great space where we

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Speaker 1: were on the same page financially because we had started

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Speaker 1: with those common denominators and then learned to discuss what

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Speaker 1: are our other goals and what do we need to

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Speaker 1: do to reach it, you know, And so I learned

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Speaker 1: to change my tone, you know, not to be such

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Speaker 1: a budgetist to bully, and he learned to like be

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Speaker 1: open to say, oh, this is for the betterment of

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Speaker 1: both of us. So I don't know what Mandy, you know,

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Speaker 1: does now. But when Darrell was here, we I had

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Speaker 1: like a We had an RS and we had each other's.

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Speaker 1: So I had my own checking, I had my own savings,

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Speaker 1: He had his own checking, He had his own savings,

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Speaker 1: and then we jointly had joint checking joint savings. The

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Speaker 1: checking account was like the bills account for the house,

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Speaker 1: so like we both contributed. He largely contributed to the

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Speaker 1: bills account, and then I largely more contributed to our

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Speaker 1: joint savings account, you know, because he had this thing

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Speaker 1: where he was like, I want to pay the bills,

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Speaker 1: and I said, okay, So there wasn't a ton left

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Speaker 1: over for savings, but that's where I contributed the most,

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Speaker 1: you know, And so like, you know, those are some

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Speaker 1: of the choices. So I'll give you an example too,

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Speaker 1: like I made significantly more than Jirell. To be candid,

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Speaker 1: he never made over sixty thousand dollars a year, and

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Speaker 1: you know I can bring home seven figures, and so

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Speaker 1: there's a big discrepancy, you know, And we talked about

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Speaker 1: how do we navigate that because sometimes you know, for

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Speaker 1: many men, and I understand it can be a hard

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Speaker 1: thing for the ego to swallow. His biggest thing was

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Speaker 1: I don't want to live off of what you bring in, Tippany.

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Speaker 1: I want to be able to maintain our lifestyle with

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Speaker 1: what I bring in.

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Speaker 3: And so really smart, honestly.

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Speaker 1: Yes, it is, honestly, and I love that about it

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Speaker 1: because he could have even been like, girl, what could

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Speaker 1: I retire? You know. So what we did, for example,

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Speaker 1: for the house was at first we were looking at

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Speaker 1: houses to get home to get mortgages, but honestly what

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Speaker 1: his income could could cover. It wasn't the kind of

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Speaker 1: house that I wanted to live in and a neighborhood

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Speaker 1: I wanted to live in. So we found this house.

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Speaker 1: It was a foreclosure, and it was like perfect with

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Speaker 1: the savings that we joint saved, you know, where I

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Speaker 1: did my most contributing. I had the one hundred and

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Speaker 1: eighty thousand dollars there. We used it to buy the house.

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Speaker 1: So now there's no mortgage, but his income could cover taxes, insurance, utilities,

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Speaker 1: you see what I mean. So it's like he still

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Speaker 1: got to pay the bills, but in a way that

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Speaker 1: preserved what I wanted, which is this beautiful home in

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Speaker 1: this nice neighborhood. But it preserved I pay the bills

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Speaker 1: and I can maintain our lifestyle, you know. And so

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Speaker 1: like those are the types of conversations you want to

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Speaker 1: start to have, like where do you want to live?

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Speaker 1: We each got our own allowance, and we could have

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Speaker 1: spended however we wanted because I know we were both

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Speaker 1: contributing to the household, which I had our own savings.

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Speaker 1: You could do what you wanted because as long as

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Speaker 1: them the bills were paid, and then the joint savings

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Speaker 1: was saved. That excess money is yours to do what

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Speaker 1: you want with. So I learned to leave him alone

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Speaker 1: when it came to that. So those are some of

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Speaker 1: the things that we did, and you know, hopefully that'll

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Speaker 1: be helpful. It's going to be just a constant conversation.

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Speaker 1: You guys should be talking about money always. Something that

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Speaker 1: Mandy actually introduced me to. Mandy when you started working

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Speaker 1: with Helen, you know, I didn't have a financial advisor

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Speaker 1: at the time, and you said that Helen helped you

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Speaker 1: kind of like be a tie breaker like you and husband,

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Speaker 1: you know, And so I suggest that too, finding a

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Speaker 1: financial advisor that your meeting with, especially in the beginning regularly,

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Speaker 1: because they will help to walk through your goals and

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Speaker 1: how do you reach them together. And that way he

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Speaker 1: feels he's heard and you feel like you're heard too.

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Speaker 3: Yeah. Absolutely, And it just basically like he listens to

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Speaker 3: her to me, even though she's saying what I could say,

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Speaker 3: you know, but obviously she has way more training than

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Speaker 3: I do as a financial planner. But yeah, that's kind

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Speaker 3: of what I was getting at too with premorital counseling,

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Speaker 3: Like they're not going to be able to give you

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Speaker 3: the financial advice, but they can help you learn how

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Speaker 3: to approach it if it becomes like this, really, you

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Speaker 3: mentioned both having trauma financial trauma in the past, so like,

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Speaker 3: if it's really tough to even get the conversation started,

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Speaker 3: maybe it's good to start in a premarital counseling and

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Speaker 3: then work your way up to like getting a financial

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Speaker 3: planner and then but I would just say, like, you'll

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Speaker 3: find the system that works for you. For us, it's

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Speaker 3: it is one joint like household expense account and one

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Speaker 3: joint savings and then we have our separate accounts where we,

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Speaker 3: you know, have money for whatever we want to buy. Oh,

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Speaker 3: she asked, any strategies you employed to start saving for

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Speaker 3: a wedding. Yeah. We moved in with his parents and

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Speaker 3: cut our I had never been earning more in my career.

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Speaker 3: I think I was about to take a job making

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Speaker 3: like forty K more than what I was earning at

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Speaker 3: the time, and for some reason I snapped and I'm like,

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Speaker 3: we have to save all this extra money, Like I

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Speaker 3: don't want to, you know, just get a nicer apartment.

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Speaker 3: We moved him with his parents into a tiny apartment

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Speaker 3: and way in Wood Upper Manhattan and gave up our

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Speaker 3: lovely two bedroom apartment in Queen's and basically lived off

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Speaker 3: of You know, we were able to save the majority

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Speaker 3: of our income, which helped. You don't have to go

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Speaker 3: that drastic. But I was hell bent on not having

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Speaker 3: debt for my wedding, and I was also hell bent

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Speaker 3: on having a gorgeous wedding. So if you both want that,

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Speaker 3: it's easier to make that decision together. We both really

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Speaker 3: wanted a nice wedding, so I think it was easier

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Speaker 3: for him to say yes to my crazy idea that

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Speaker 3: we lasted. We lasted like six or eight months there.

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Speaker 3: I think saved like twelve thousand dollars. It was nice.

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Speaker 1: Yeah, no, that's okay.

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Speaker 3: We had to get out of there.

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Speaker 1: Same thing. Like like Mandy, we lived really simply, Like

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Speaker 1: Darrell was a super for housing and we lived basically

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Speaker 1: on campus. I mean it was a cute We had

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Speaker 1: a townhouse, but rent was because he worked there. It

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Speaker 1: was severely discounted to like nine hundred bucks a month,

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Speaker 1: nine to twenty. And so we lived there and we saved,

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Speaker 1: and we both agreed, and it's not something you have

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Speaker 1: to do, but we were both agreed because I mean,

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Speaker 1: I got married at thirty seven, so I didn't necessarily

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Speaker 1: want like a big old wedding. And so we decided,

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Speaker 1: do we want to spend this money on the wedding

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Speaker 1: or do we want to set aside to purchase a

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Speaker 1: home together, And so we said, let's have a simple wedding.

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Speaker 1: So we did justice at the piece. A friend of

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Speaker 1: mine has this really nice restaurant that she closed down

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Speaker 1: Bonda for us, and Mandy was there and so we

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Speaker 1: just like, that's what we did. My mom was distraught,

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Speaker 1: of course, because I'm Nigeria and how dare I not

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Speaker 1: have an extravagant, ignorant wedding.

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Speaker 3: It was my favorite Nigerian wedding. It lasted. What was

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Speaker 3: I even? It wasn't even a wedding, It was just

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Speaker 3: a reception.

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Speaker 1: I loved it.

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Speaker 3: It was the best.

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Speaker 1: My friend Andrea, she made my dress. She's like she's

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Speaker 1: like now she's like some famous like wedding dress designer.

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Speaker 1: She like one like making the cut on them with Pattie,

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Speaker 1: Heidi Koum and Tim Gunn. But like yeah, I mean

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Speaker 1: she was big then to Pantoa Bridal. She made my

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Speaker 1: dress and gifted it to me. My my friend JP

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Speaker 1: did our video for free. Honestly, it was like the

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Speaker 1: I don't think I spent two thousand dollars, like including

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Speaker 1: Alyssa's dress, Jurrell's close from like Banana Republic, you know,

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Speaker 1: all everything photos and but it was beautiful because after

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Speaker 1: it was said and done, we purchased I wouldn't have

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Speaker 1: had the money to purchase the home cash. I didn't

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Speaker 1: know at the time that this house was going to

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Speaker 1: come up. But not only did we purchase the home cash,

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Speaker 1: we paid off my student loan debt fifty thousand dollars

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Speaker 1: and we were able to pay off my parents' house

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Speaker 1: one hundred and twenty thousand dollars. And so for us

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Speaker 1: it was like and for all partnered people, you have

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Speaker 1: to decide what's your design outcome jointly as well as individually,

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Speaker 1: and make the decision from there. So to Mandy's point,

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Speaker 1: like you know, if you can reduce how you're living,

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Speaker 1: however that looks and set aside. Right now, Citizens Bank,

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Speaker 1: we don't I don't work with them or anything, but

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Speaker 1: they because all I think is like three point three.

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Speaker 1: So I moved my money from ally to Citizens Bank

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Speaker 1: is three point seven, So like.

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Speaker 3: Narrates are going up, yes, but like joint bank accounts,

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Speaker 3: he just wanting to be sure they're really easy and

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Speaker 3: simple to next your external accounts too, especially if, like

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Speaker 3: unless you're both going to move all your stuff to

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Speaker 3: that one bank account, which would be easier. But like

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Speaker 3: Enrique has a bank account that I don't have, and

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Speaker 3: I have my personal one with Ally, and then we

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Speaker 3: have the joints. So as long as you can do

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Speaker 3: auto transfers, that has worked for us. It took a while,

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Speaker 3: but I was like, dude, automatically transfer money into Ally

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Speaker 3: each month so that I know we'll have enough to

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Speaker 3: like get daycare covered and stuff like that. But yeah,

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Speaker 3: for your savings, for sure, I would just choose the

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Speaker 3: bank with the highest interest rate because you want that

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Speaker 3: to be easy to get to but not too easy

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Speaker 3: to get to. But yeah, good luck on this journey,

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Speaker 3: and congratulations Taylor on your engagement's.

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Speaker 1: What do we love to hear? Because you know we well,

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Speaker 1: I well, damn, I'm gonna say we're all married couple,

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Speaker 1: married ladies now, But I'm like, I don't know, do

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Speaker 1: I still feel married?

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Speaker 3: You're a rich aunty.

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Speaker 1: I know I am a rich Jounty. The first time

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Speaker 1: someone said like, oh, you're not married anymore, I was like, oh,

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Speaker 1: shut up. Now I'm just like yeah, Now I'm like,

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Speaker 1: well I'm a.

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Speaker 3: Rich two guys put together so long, like you can't

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Speaker 3: just you know, look at your relationship as the years

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Speaker 3: you were married. You know, you guys had a storybook.

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Speaker 1: From me, it's always storybook when someone's like, honestly, it

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Speaker 1: was pretty awesome. But yes, like, yes, I have a

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Speaker 1: rich aunte now, so we'll say that, but yes, keep

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Speaker 1: asking your questions, bring them on there, we have one.

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Speaker 1: Well we're gonna take a break, right, mandra Yeah.

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Speaker 3: And take a little break and come back with one

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Speaker 3: mode question. Yes, So we'll see you on a little.

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Speaker 1: Bit and we're back. We have a question. Oh her

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Speaker 1: name is Tiffany girl. I like that name. Hey girl,

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Speaker 1: But hey, ladies, I'm a huge fan of your podcast.

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Speaker 1: You all need a show, like seriously. Okay, I have

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Speaker 1: a fairly simple question. However, it's so hard for me

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Speaker 1: to get by it. How do I find funding to

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Speaker 1: start my business. I'm twenty seven and have new savings

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Speaker 1: and I want to flip properties, but I have no

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Speaker 1: money to start. Please help, Okay.

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Speaker 3: You squeeze blood from a stone.

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Speaker 1: I don't know if you ever heard, well, have you

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Speaker 1: ever heard of house hacking? Mandra, Yeah, but I need

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Speaker 1: a refresher. So house hacking, young Tiffany, I love this

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Speaker 1: twenty seven. Oh he's so fresh and for a life.

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Speaker 1: So house hacking is when you live in a house

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Speaker 1: ideally ideally like a multi family house, let someone else

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Speaker 1: pay the rent, you know, and then save from that place,

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Speaker 1: so like you know, you're saving on you not having

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Speaker 1: to pay rent, someone else is paying the mortgage for you,

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Speaker 1: and then you use that money or you could even

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Speaker 1: pull out money from that property to purchase the next property,

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Speaker 1: you know, and so.

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Speaker 3: Exactly what producer and money is doing right now.

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Speaker 1: Exactly, and so I would you know, like if you

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Speaker 1: The thing about purchasing at home is that you can

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Speaker 1: use something called leverage, Like leverage comes from the word lever,

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Speaker 1: and a lever is like a doorknob. So you think

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Speaker 1: about the small little doorknob could open this.

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Speaker 3: Big old door.

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Speaker 1: How is that right? So the same thing with the

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Speaker 1: way when you leverage your money in real estate, you

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Speaker 1: don't have to come up with a full amount like

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Speaker 1: I have purchased my properties some of them cash, but

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Speaker 1: you don't need to do them. You can literally leverage

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Speaker 1: by you know, putting down giving an fah loan, putting

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Speaker 1: down three and a half percent, so you don't have

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Speaker 1: to put down the full five hundred thousand or two

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Speaker 1: hundred thousand or whatever, maybe three thousand and four thousand

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Speaker 1: and five thousand, which means you do have to save something,

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Speaker 1: you know, and then you use that leverage to purchase

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Speaker 1: an asset that is much greater than what you initially invested. Patience,

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Speaker 1: you know, maybe you fix it up while you're there,

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Speaker 1: do a little something to it, find yourself some you know,

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Speaker 1: someone who's going to rent, and then you know, after

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Speaker 1: a couple of years you're able to pull out some

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Speaker 1: money from that property as well as hopefully you've saved

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Speaker 1: some of that rent money you're getting to then purchase

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Speaker 1: the next thing. And so that's what I would suggest

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Speaker 1: for you to start. There's some great resources, so many

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Speaker 1: some I don't know if that all United Ways still

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Speaker 1: do this, but some of them. You might want to

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Speaker 1: look at your local United Way. Oftentimes they have something

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Speaker 1: called an IDA program, an Individual Development Account program. This

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Speaker 1: is a program where can you take like a series

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Speaker 1: of classes, and the United Way has partnered with the bank,

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Speaker 1: and some banks just do this on their own. So

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Speaker 1: you can look for individual Development Account programs at different

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Speaker 1: banks and then they will pledge if you put a

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Speaker 1: certain amount of money in and you take these courses

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Speaker 1: or classes, they will then grant you money, like in

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Speaker 1: multiple So if you put up five hundred, they might

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Speaker 1: say for every five hundred you put up, we will

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Speaker 1: multiple times for that's what the IDA program that I

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Speaker 1: used to teach, so literally when I was working at

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Speaker 1: the United Way, people took my course. If they say

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Speaker 1: that up to five hundred dollars, at the end of

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Speaker 1: the course, they got two thousand, which is great and

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Speaker 1: so like, so look for IDA programs. Another thing, there's

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Speaker 1: Naka Naca love Naka the neighborhood. I forget what stands for,

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Speaker 1: but NAKA, right, it's this on this nonprofit organization that

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Speaker 1: helps new homeowners purchase home so you can get a

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Speaker 1: multi family I think up to four families with NAKA

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Speaker 1: and NAKA will typically help you lock in a much

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Speaker 1: lower interest rate than any place else and they commit

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Speaker 1: for you to have no down payment. They really help

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Speaker 1: with like no down payment, help with closing costs and

433
00:20:21,640 --> 00:20:23,400
Speaker 1: you get a lower interest rate than what's out there,

434
00:20:23,720 --> 00:20:26,480
Speaker 1: and so look at for NAKA programs also too. I

435
00:20:26,480 --> 00:20:29,359
Speaker 1: would just consider, like, you need to start taking like

436
00:20:29,880 --> 00:20:32,840
Speaker 1: these free first time home buys courses to understand the

437
00:20:32,840 --> 00:20:36,040
Speaker 1: home buying process in general. You know, like, you know

438
00:20:36,119 --> 00:20:38,760
Speaker 1: what is it you know, what is insurance going to

439
00:20:38,800 --> 00:20:39,919
Speaker 1: look like? What is that going to look like?

440
00:20:40,760 --> 00:20:42,560
Speaker 3: Shoot, property taxes.

441
00:20:42,160 --> 00:20:44,720
Speaker 1: Yes, but also too, well, how do you get more

442
00:20:44,720 --> 00:20:48,000
Speaker 1: in a mortgage? Also too, you're going to want to

443
00:20:48,000 --> 00:20:52,119
Speaker 1: to connect with realtors in the area that you're considering purchasing,

444
00:20:52,560 --> 00:20:55,160
Speaker 1: because oftentimes realtors will have their ear to the street, like, oh,

445
00:20:55,200 --> 00:20:57,480
Speaker 1: you know what M ANDT Bank has a twenty twenty

446
00:20:57,480 --> 00:21:00,919
Speaker 1: thousand dollars grant, this bank has, you know, there are

447
00:21:00,960 --> 00:21:03,840
Speaker 1: grants all over And so I would say for the

448
00:21:03,880 --> 00:21:07,840
Speaker 1: next honestly year to inundate myself with taking these courses,

449
00:21:08,080 --> 00:21:11,080
Speaker 1: meeting with realtors, you know, reaching out to banks to

450
00:21:11,080 --> 00:21:14,760
Speaker 1: see if they have any grant programs, doing your you know,

451
00:21:14,880 --> 00:21:18,439
Speaker 1: your your research, and if you do that, before I

452
00:21:18,520 --> 00:21:22,560
Speaker 1: start flipping, I would house hack and maybe consider doing

453
00:21:22,600 --> 00:21:24,520
Speaker 1: some renting and so I can get some money up

454
00:21:24,560 --> 00:21:25,880
Speaker 1: to do the thing that you're wanting to do.

455
00:21:26,040 --> 00:21:29,440
Speaker 3: Yeah, I'm curious because she says she wants to save

456
00:21:29,520 --> 00:21:31,679
Speaker 3: up money for her business, which I'm assuming is the

457
00:21:31,920 --> 00:21:35,720
Speaker 3: house flipping. Should people who are thinking I feel like

458
00:21:35,760 --> 00:21:38,359
Speaker 3: house hacking. You know, you buy the home under your

459
00:21:38,359 --> 00:21:40,320
Speaker 3: own name and then rent it out. Excuse me, if

460
00:21:40,359 --> 00:21:43,600
Speaker 3: you're wanting to then get into home flipping. Do you

461
00:21:44,040 --> 00:21:46,960
Speaker 3: get a business entity like an LLC and then you

462
00:21:47,040 --> 00:21:50,520
Speaker 3: purchase under that entity or are people out there flipping

463
00:21:50,520 --> 00:21:52,159
Speaker 3: houses just like as themselves?

464
00:21:52,440 --> 00:21:54,360
Speaker 1: I mean, ideally, you can definitely get an entity because

465
00:21:54,359 --> 00:21:57,240
Speaker 1: you want to be protected anytime you have a business, Yes,

466
00:21:57,280 --> 00:21:59,960
Speaker 1: and including that kind of business. For someone who's never

467
00:22:00,040 --> 00:22:03,679
Speaker 1: flip before, I suggest hacking first because it's basically a

468
00:22:03,720 --> 00:22:07,040
Speaker 1: slow flip. You know, you get someplace, hopefully undervalue. Maybe

469
00:22:07,040 --> 00:22:09,320
Speaker 1: you need some new toilets, blah blah blah. You're living

470
00:22:09,359 --> 00:22:12,640
Speaker 1: there and fixing it up while you live there and learning, Oh,

471
00:22:12,720 --> 00:22:14,960
Speaker 1: don't work with that contract or he's a thief. Oh

472
00:22:15,000 --> 00:22:17,200
Speaker 1: that's a really good painter. You're starting to build your

473
00:22:17,240 --> 00:22:20,520
Speaker 1: team while you're house hacking. So when you finally get

474
00:22:20,520 --> 00:22:23,800
Speaker 1: the money together, then you know, and you have a

475
00:22:23,840 --> 00:22:26,240
Speaker 1: team together, then you can consider flipping. I do not

476
00:22:26,359 --> 00:22:29,400
Speaker 1: suggest flipping right off the that unless you're partnered with

477
00:22:29,640 --> 00:22:32,200
Speaker 1: an experienced flipper and you're kind of like working side

478
00:22:32,200 --> 00:22:34,720
Speaker 1: by side, because you can do that too. Oftentimes these

479
00:22:34,760 --> 00:22:38,600
Speaker 1: flippers have no admin assistance. They're a mess, So you

480
00:22:38,640 --> 00:22:40,280
Speaker 1: might want to look for a flipper and offer your

481
00:22:40,320 --> 00:22:42,600
Speaker 1: services to keep them organized so you can learn on

482
00:22:42,640 --> 00:22:44,440
Speaker 1: the job. That's something you can consider.

483
00:22:44,160 --> 00:22:47,040
Speaker 3: Too, and like start inundating. Like Tiftien said, inundating, I

484
00:22:47,080 --> 00:22:49,520
Speaker 3: forget what you said with education around, you know, the

485
00:22:49,520 --> 00:22:54,040
Speaker 3: home ownership process. I'd also recommend like following blogs or

486
00:22:54,080 --> 00:22:57,040
Speaker 3: tiktoks from people who are in like doing it, doing

487
00:22:57,080 --> 00:22:58,240
Speaker 3: the thing that you want to be doing, and just

488
00:22:58,320 --> 00:23:01,320
Speaker 3: learning from their experience. I know blogs or so two

489
00:23:01,400 --> 00:23:05,160
Speaker 3: thousand and four, but I remember Paula Pant from afford Anything.

490
00:23:05,359 --> 00:23:07,520
Speaker 3: She used to do this in Atlanta, and I would

491
00:23:07,560 --> 00:23:10,080
Speaker 3: read her blog and she was like very transparent about

492
00:23:10,480 --> 00:23:12,639
Speaker 3: fixing up homes and living in them and renting them

493
00:23:12,640 --> 00:23:15,320
Speaker 3: out in that whole process. And I anyway, she has

494
00:23:15,320 --> 00:23:18,080
Speaker 3: a podcast called afford Anything. Also Bigger Pockets. I feel

495
00:23:18,080 --> 00:23:21,600
Speaker 3: like it's more real estate investor focus, So maybe add

496
00:23:21,600 --> 00:23:25,000
Speaker 3: those to rotation with brown ambition as well, and give

497
00:23:25,040 --> 00:23:27,879
Speaker 3: yourself time because it's not something you want to jump into,

498
00:23:28,440 --> 00:23:30,120
Speaker 3: you know. So I like that TIFFs like house hack

499
00:23:30,240 --> 00:23:32,840
Speaker 3: and make it a slow flip because you're learning and

500
00:23:32,880 --> 00:23:35,080
Speaker 3: all of that and saving, you know.

501
00:23:35,240 --> 00:23:38,000
Speaker 1: Join these There's like a ton of like Facebook groups,

502
00:23:38,320 --> 00:23:39,919
Speaker 1: so you can kind of sit back and like listen

503
00:23:40,000 --> 00:23:42,400
Speaker 1: and learn because I like one of my friends, Christina,

504
00:23:42,480 --> 00:23:46,159
Speaker 1: she she flips homes in Saint Louis and they do

505
00:23:46,280 --> 00:23:48,800
Speaker 1: meetups all over the country where they just talk to

506
00:23:48,840 --> 00:23:52,639
Speaker 1: each other, they share information. So you really want to consider, like,

507
00:23:52,720 --> 00:23:55,000
Speaker 1: as I said, inundate for the next year, just inundate

508
00:23:55,000 --> 00:23:57,119
Speaker 1: yourself with I'm part of this group. I join this

509
00:23:57,200 --> 00:24:00,520
Speaker 1: meetup before you really start to like you're gonna it's

510
00:24:00,520 --> 00:24:05,040
Speaker 1: a very expensive process. So the more education you can

511
00:24:05,080 --> 00:24:07,239
Speaker 1: have because you're going to make mistakes and they're going

512
00:24:07,320 --> 00:24:09,879
Speaker 1: to be pricey, but they can be reduced in price,

513
00:24:10,200 --> 00:24:12,280
Speaker 1: you know, if you if you take the time for education.

514
00:24:12,520 --> 00:24:13,840
Speaker 1: So good luck to you.

515
00:24:13,920 --> 00:24:18,879
Speaker 3: Tiffany, that's Tiffany on Tiffany, y'all for v a q A.

516
00:24:19,240 --> 00:24:21,160
Speaker 3: All right va fam again. If you want to submit

517
00:24:21,200 --> 00:24:24,280
Speaker 3: your questions, you can hit us up at ig on

518
00:24:24,320 --> 00:24:27,520
Speaker 3: ig We're at Brown and Mission Podcast. Oh Brondimission Podcast

519
00:24:27,520 --> 00:24:30,199
Speaker 3: at gmail dot com. If you want to email us

520
00:24:30,280 --> 00:24:33,080
Speaker 3: or just head to our website Brandimission podcast dot com.

521
00:24:33,119 --> 00:24:38,480
Speaker 3: Contact us, but until next week bye.

522
00:24:38,080 --> 00:24:40,320
Speaker 4: Hey ba fam. We could not do this show without

523
00:24:40,359 --> 00:24:43,440
Speaker 4: your support or the support of our team behind the scenes.

524
00:24:43,720 --> 00:24:47,320
Speaker 4: The Brown and Mission Podcast is produced by Cumulus Podcast Network.

525
00:24:47,400 --> 00:24:50,880
Speaker 4: It's edited by the wonderful Emani Crosby and produced by

526
00:24:50,920 --> 00:24:54,959
Speaker 4: Tanya Bustos. Dennis Demplinsky is our in house tech Turu

527
00:24:55,080 --> 00:24:57,800
Speaker 4: and I am Bandy Woodrid Santos your co host, and

528
00:24:57,960 --> 00:25:03,000
Speaker 4: I will see y'all next week.

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00:25:00,359 --> 00:25:00,399
Speaker 3: A