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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: We're gonna get it. We're gonna get this going. Yeah,

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Speaker 3: the hardest working men in showbiz.

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Speaker 4: You may never see nothing like this again.

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Speaker 3: It's gonna be rare, it's gonna be extremely.

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Speaker 4: You may nothing like this again.

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Speaker 5: Extremely rare, I'll tell you that much. Let's get the

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Speaker 5: back call out, trying to get to this core the

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Speaker 5: right way. I hope everybody's doing well out there. Jam

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Speaker 5: pack week for us, man, we have Steve Harvey for

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Speaker 5: Market Mondays this episode. Yesterday we got caught phased Land

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Speaker 5: and we are back today to round out the week

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Speaker 5: with a live with MG the Mortgage Guy on.

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Speaker 3: How to Buy Own twenty twenty two. Yeah, so you know, grin,

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Speaker 3: don't stop.

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Speaker 5: We are in Atlanta headquarters. If you notice the core

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Speaker 5: so yeah, man, it's a wow. Just finish a dope interview.

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Speaker 5: So literally yeah, yeah.

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Speaker 4: That's gonna be coming away real soon.

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Speaker 3: Yeah.

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Speaker 4: Shout out to Houston, all the restaurants to us out there.

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Speaker 6: Shout out to our Age down, Family, Pricenta Though, Mike Brown, Jazz,

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Speaker 6: what's going on?

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Speaker 4: What else we got out the slim Thug. Everybody in

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Speaker 4: Houston's going on in Atlanta?

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Speaker 3: What's up?

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Speaker 2: New York?

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Speaker 4: We will be home shortly. We'll be home. Hot out there. Oh,

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Speaker 4: brother MG about to jump on right now, he tells you.

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Speaker 3: Yeah, yes, so open enrollment. This is what we do

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Speaker 3: every Wednesday.

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Speaker 5: The last Wednesday of the month every single month for

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Speaker 5: Eyol University.

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Speaker 3: It gives you a peak into eyl University.

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Speaker 5: And we picked different topics and I just felt like

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Speaker 5: this month it would be a great time to address

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Speaker 5: how to bout home and different aspects of it because

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Speaker 5: we've been talking a lot about you.

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Speaker 3: Know, interest rates.

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Speaker 5: Going through the roof and if homes are going to

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Speaker 5: you know, have a decline and different things of that nature.

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Speaker 5: So a lot of people are nervous, a lot of

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Speaker 5: people are anti, a lot of people are on the

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Speaker 5: fence if they should buy a home or not because

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Speaker 5: you know, the.

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Speaker 3: Climate, the environment that we're in right now.

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Speaker 5: So I feel like it just be a good time

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Speaker 5: to just have that conversation, not only from a personal

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Speaker 5: property standpoint, but also from an investing standpoint as well.

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Speaker 3: So I just feel like, you know, it'll be a

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Speaker 3: good time to just revisit this conversation.

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Speaker 5: And middle of the year looks like we're going to

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Speaker 5: be headed towards a recession officially announced in a few weeks.

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Speaker 5: So real estate and you can never we can never

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Speaker 5: talk about real estate enough. So I feel like now

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Speaker 5: it's a perfect opportunity to talk about real estate and

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Speaker 5: this is why we chose this topic right now.

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Speaker 3: So and then, of course.

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Speaker 5: MG is somebody that you know, only makes sense to

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Speaker 5: have this conversation with because he is not only you know,

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Speaker 5: ey L alumni, but a pioneer in the space and

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Speaker 5: somebody that has helped pioneer the whole financial literacy movement

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Speaker 5: when it comes to real estate. So, you know, always

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Speaker 5: good to hear his perspective from somebody that's actually on

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Speaker 5: the inside officer, not just somebody that just invest in property,

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Speaker 5: somebody that actually is working in the field day to

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Speaker 5: day and people will proved for mortgages, getting people funding.

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Speaker 3: The bay home.

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Speaker 2: This is what he's.

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Speaker 3: So.

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Speaker 6: So yeah, man, there is an MLS five A seven

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Speaker 6: zero zero.

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Speaker 4: Also going to energy the mortgage guy.

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Speaker 2: What's yeah? What's good? Fellas? What's good?

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Speaker 7: Man?

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Speaker 2: How you're feeling, man?

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Speaker 4: How you feeling?

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Speaker 3: Man?

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Speaker 2: You know, I'm not one hundred percent. I ain't gonna

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Speaker 2: hold you up, but I'm here, I'm alive, I'm blessed,

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Speaker 2: and I'm ready. I'm ready to show the funk out.

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Speaker 4: Man.

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Speaker 2: Let's go, Man, I can't I came. I came here

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Speaker 2: for violence today. Man, Let's go. I've been I've been

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Speaker 2: I've been cooped up for a whole week. Let's go Man,

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Speaker 2: where my earners at Man, Let's go see.

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Speaker 4: I gave you the co host joint, so I right,

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Speaker 4: I mean we're in for a treat tonight. I saw

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Speaker 4: what's happening.

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Speaker 5: So before we start, I just definitely want to give

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Speaker 5: my condolences to EYO alumni that passed away today, Dal

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Speaker 5: Freeman Jr. If you're familiar with Dal Freeman, he came

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Speaker 5: on an episode a while ago, like a year and

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Speaker 5: a half ago, and you man from Nashville, Tennessee that

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Speaker 5: was big in real estate. Actually, slim Husky's another EYO alumni.

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Speaker 5: He invested in their company and was help mentoring them

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Speaker 5: and you know, started his company and sold it for

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Speaker 5: twenty two million dollars.

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Speaker 3: And it's a great story.

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Speaker 5: And he gave a lot of great insight on how

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Speaker 5: to evaluate a business, how to sell a business, how

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Speaker 5: to you know, buy real estate, different things of that nature.

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Speaker 3: And somebody that you know, we became ain't real good with.

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Speaker 5: And he actually was a paid member of eyl University

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Speaker 5: also and added a lot of value to e y

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Speaker 5: L University and added a lot of value to anybody

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Speaker 5: online that was interested on entrepreneurship and investment.

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Speaker 3: So sad to hear about his passing today.

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Speaker 5: You know, definitely send our condolences to his family, uh,

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Speaker 5: to his friends and you know, ey l Is we

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Speaker 5: could say the alumni because it is it is a

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Speaker 5: fraternity and it's you.

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Speaker 3: Know some people we speak too more often than other people.

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Speaker 5: But you know, when you come more early a leisure

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Speaker 5: you definitely you know, become part of the family.

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Speaker 3: And we developed relationships with a lot of the people.

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Speaker 5: So this is the first person that has ever come

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Speaker 5: on our platform that has passed away, so you know,

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Speaker 5: that's something that's new to us. But we all know that,

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Speaker 5: you know, life is short, life is fragile, and you

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Speaker 5: know nobody looks forever. So that that the key is

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Speaker 5: to make the most out of life that you have,

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Speaker 5: appreciate it, make wise decisions and leave your family in

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Speaker 5: a in a in a better position when you pass

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Speaker 5: away to to you know, have peace of mind, have

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Speaker 5: generational wealth, and create some level of you know, stability.

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Speaker 3: So I'm sure that he did that.

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Speaker 5: So yeah, I just wanted to give give Mark and

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Speaker 5: Thrones to speak a little bit before we start this

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Speaker 5: because we're gonna talking about real estated I'm talking about

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Speaker 5: a lot of money. But ultimately, we got to keep

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Speaker 5: in mind that life is the most important. Life is

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Speaker 5: the most important asset that we will ever have, and

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Speaker 5: we can never you know, take it from granted. Because

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Speaker 5: just to be able to breathe as a blessing, just

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Speaker 5: to be able to you know, have your your right

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Speaker 5: mind as a blessing. So we're all blessed at the

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Speaker 5: end of the day. If you're watching this, you're blessed.

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Speaker 5: If you're able to type something in the chat, you're blessed.

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Speaker 5: If you're able to you know, speak, tell a friend

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Speaker 5: and tell a friend, you're blessed. And we're blessed to

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Speaker 5: be able to you know, be here in front of

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Speaker 5: you and to speak.

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Speaker 8: So yeah, yeah, And when we talk about legacy, and

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Speaker 8: I said this kind of a few times, the legacy

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Speaker 8: is really written by the people you've impacted. And so

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Speaker 8: I'm sure his legacy will live on, especially through us

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Speaker 8: and the people he's mentored, his business partners and the

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Speaker 8: husky And he's always like, like Rashad said that he's

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Speaker 8: a man who's always offered guidance with somebody that we

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Speaker 8: could text and the cole on when we needed him

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Speaker 8: even invite us to visit his own island with his family.

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Speaker 4: So a gracious man.

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Speaker 8: And again we offer our condolens sisters on Timmy passing.

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Speaker 4: But we're gonna keep the legacy going. Entrepreneurship is something

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Speaker 4: he was big on.

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Speaker 9: Creating businesses with something he was big on, but understanding

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Speaker 9: how to evaluate and potentially tell your business was something

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Speaker 9: that he was big on.

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Speaker 8: So you know, we're gonna keep the legacy going. And

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Speaker 8: I'm sure Ernest in here and the people that are

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Speaker 8: watching them to be out as well. So again, rest

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Speaker 8: in peace to dolphimjury and adults to the family.

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Speaker 3: Yeah.

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Speaker 2: Yeah, he was an actavern a two that he was.

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Speaker 2: He was active and you know, for a man to

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Speaker 2: have made that amount of money and he's in a

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Speaker 2: private Facebook group paid and he paid to be in

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Speaker 2: there and giving a lot of insight to the earners

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Speaker 2: almost daily. And what he's did online, you know, he

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Speaker 2: championed being the freak, the free game champ basically, you know,

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Speaker 2: and I think that's something that all three of us

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Speaker 2: and our whole movement what we do too is try

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Speaker 2: to give a lot of free game more than paid right,

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Speaker 2: So he was definitely a legend. And rest in peace

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Speaker 2: to him and his family because you know, it's sad man,

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Speaker 2: you never know, you never know, and it's crazy. I

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Speaker 2: was thinking, like I haven't seen him a lot this

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Speaker 2: year too, because normally he's super active online and just

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Speaker 2: to hear hear the news today is just kind of

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Speaker 2: kind of took a step back. So rest in peace

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Speaker 2: to Daryl Framan, Sr. And conduless to his family and

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Speaker 2: God bless that man.

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Speaker 5: Yes, so we're going to get into this. We'll talk

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Speaker 5: about you, but I want to talk about that later on.

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Speaker 5: I feel like, you know, we can, we can get

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Speaker 5: into the programming, get some education, and then we can

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Speaker 5: kind of you know, talk about that. So yeah, we

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Speaker 5: do not evenna waste no time, MG, the Floyd yours.

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Speaker 5: We're going to talk about how to buy a home.

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Speaker 5: This is something that's very very important. A lot of

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Speaker 5: people want to buy homes, whether it's your first home,

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Speaker 5: second home, third home, investment property. You know, it's a

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Speaker 5: lot of it's a lot of fear in the marketplace.

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Speaker 5: So let's give it people some education.

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Speaker 2: Well, Warren Buffett once said the famous quote, right when

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Speaker 2: people are being greeting, be fearful, and when people are

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Speaker 2: being fearful, be greeting. So I need everybody to understand

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Speaker 2: that this is one of those times, and it's going

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Speaker 2: to be better than the pandemic. I'm telling you. I

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Speaker 2: told you guys two years ago during the pandemic April

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Speaker 2: twenty twenty, I was on the Breakfast Club and I

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Speaker 2: was on that and I told y'all, when they open

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Speaker 2: up America, the flood gates are going to happen. The

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Speaker 2: government's going to do everything in their power to prevent

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Speaker 2: a crash, and they did in the real estate space,

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Speaker 2: I'm speaking specifically, and it went crazy and I was

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Speaker 2: online screaming to the top of my lungs. You need

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Speaker 2: to go and get this cheap money because it won't

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Speaker 2: last forever. As you all can see, it didn't last forever.

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Speaker 2: It lasted for about eighteen twenty months, and now interest

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Speaker 2: rates have skyrocketed. But I want everybody to understand that

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Speaker 2: presents probably the best opportunity for real estate people in

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Speaker 2: the next two years, because there's going to be less

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Speaker 2: buyers in the market, there's going to be more inventory

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Speaker 2: that's going to hit the market, and especially if you

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Speaker 2: are investing, this is going to be probably the best

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Speaker 2: opportunity for you as an investor to buy real estate.

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Speaker 2: Just pay attention to what everything that's happening in the news.

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Speaker 2: They are spewing fear left and right when it comes

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Speaker 2: to housing. So this is the time, in my opinion,

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Speaker 2: where you guys need to really start thinking like investors,

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Speaker 2: even if you're buying your first home, think like an investor.

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Speaker 2: And this is something I've been screaming for the top

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Speaker 2: of my lungs. Also, stop being emotional. I think like

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Speaker 2: an investor because this opportunity will pass you by if

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Speaker 2: you don't take action on it. Regardless of where the

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Speaker 2: interest rates are right now, still a great opportunity to buy.

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Speaker 2: So I'm gonna share my screen man. Let's get busy

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Speaker 2: with this real quick. Now. You gotta forgive me. I'm

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Speaker 2: new to this. Mac Tuks done did all types of

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Speaker 2: new stuff in the in the studio. I don't I'm

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Speaker 2: a PC guy, so I don't even He told me

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Speaker 2: I got a swipe with three fingers. I'm like, what

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Speaker 2: is this, bro? I don't know what you're talking about.

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Speaker 2: So ya gotta ya, gotta forgive me. Where I don't

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Speaker 2: even know how you okay, share your screen? I think

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Speaker 2: he said, share my desktop? Right, yeah, how you do

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Speaker 2: share desktop? Oh? Shared desktop?

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Speaker 8: One?

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Speaker 2: Okay, you see I don't know what I'm doing.

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Speaker 4: Yea, now we see, we can see it now see.

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Speaker 2: My desktop now? Yeah, all right, I see this.

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Speaker 3: Yeah, all right.

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Speaker 2: So I'm not the most tech guy, but tooks. Since

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Speaker 2: I just came off with COVID, he said, I'm not

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Speaker 2: being next next to you next week, alrightfully, so so

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Speaker 2: all right, let me how let me figure out how

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Speaker 2: to maximize this? How do you maximize your his slides

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Speaker 2: show slid show where you see that up it's.

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Speaker 5: Right there next to ship, next to share, next to

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Speaker 5: the yellow share. By then you are getting a tutorial

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Speaker 5: on how to work in computer.

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Speaker 3: No, go back, go back.

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Speaker 2: When you see your sly show, so you see.

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Speaker 9: You move the curses to the right up right down, down,

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Speaker 9: down down down.

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Speaker 2: The slash show slas show right here. Yeah you know

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Speaker 2: I couldn't see it because you guys was in like

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Speaker 2: the picture and picture thing was there.

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Speaker 6: That's okay, now we're good.

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Speaker 2: Now we're good, all right, So it's not Garland and

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Speaker 2: them A less number five eight seven zero zero, better

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Speaker 2: known as MG the mortgage Guy. Let's get busy. We're

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Speaker 2: gonna teach you how to buy a house in twenty

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Speaker 2: twenty two. Who am I? I am the mortgage banker,

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Speaker 2: the mortgage goal, the mortgage king. Whatever you want to

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Speaker 2: call me, Just call me something. I've been in a

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Speaker 2: business for nineteen going on twenty years, funded almost a

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Speaker 2: billion dollars. That's a billion with to be in my career.

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Speaker 2: I'm one of the top mortgage people in the country.

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Speaker 2: I run a division of a mortgage bank. We are

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Speaker 2: here to help you, guys, achieve your real estate goals.

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Speaker 2: Whether you're looking to buy your primary residents, buy a

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Speaker 2: secondary home or a vacation home, or purchase investment properties.

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Speaker 2: Meet and my team could help you achieve your goals.

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Speaker 2: All right, just hit the link in my Instagram bio

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Speaker 2: and we will take care of you. All my resources

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Speaker 2: are there, all right. So today we're gonna keep it

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Speaker 2: real simple. I'm gonna give you a lot of information.

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Speaker 2: If you're ready for some information, put some fires in

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Speaker 2: a chat. MG is ready to go. We're gonna teach

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Speaker 2: you how to prepare your lend defile. I'm gonna teach

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Speaker 2: you how to hire the right lender right with low

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Speaker 2: program and I'm gonna go briefly on a couple programs.

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Speaker 2: I'm gonna discuss closing course, the underwriting process. Then I'll

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Speaker 2: open it up for some Q and A. But there's

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Speaker 2: gonna be a lot of information in this and I'm

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Speaker 2: gonna take you to a couple different websites also, So

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Speaker 2: I'm gonna need you guys to really focus in on

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Speaker 2: this because I want to show you, guys how to

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Speaker 2: go get certain information on your own versus it being

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Speaker 2: in a slide show. All right, preparing your lend to

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Speaker 2: file most important, most important. A lot of people are

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Speaker 2: not organized. This is one of the biggest problems that

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Speaker 2: I see when people are looking to purchase real estate.

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Speaker 2: They are not organized. So one of the key things

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Speaker 2: I want to tell you guys, the document checklist that

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Speaker 2: you see here is pretty standard across the board for

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Speaker 2: all lenders. And I love to see all that fire

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Speaker 2: in the chat YouTube. Y'all keep it going. Let's hit

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Speaker 2: that like button share it's with ten people immediately, all right,

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Speaker 2: and y'all screenshot this slide because these are the documents

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Speaker 2: that you are gonna need for any lender. That you

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Speaker 2: go to in America. All Right, the last two years

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Speaker 2: of W two's you're gonna need a two year work history.

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Speaker 2: Now if you are a two year If you are

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Speaker 2: a W two employee, you do not need to show

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Speaker 2: tax returns unless that lender has overlays, which are guidelines

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Speaker 2: on top of goidelines. But for the most part, if

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Speaker 2: you are a simple W two employee, you do not

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Speaker 2: need to show your tax returns. We do need to

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Speaker 2: see a two year work history. Now. One of the

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Speaker 2: biggest things that people always tell me is, Matt, I

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Speaker 2: have five jobs in the past two years, but they

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Speaker 2: will all W two. Does this disqualify me? No, it

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Speaker 2: does not. Any gaps in employment we have to document

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Speaker 2: with a letter of explanation that gap in employment. All right,

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Speaker 2: If you go from working from Target to ups to

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Speaker 2: Best Buy, that's okay. As long as your income is

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Speaker 2: the same or increasing, you won't have no issues. But

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Speaker 2: if you're income is decreasing, then that could be an issue.

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Speaker 2: All right, last two Now, I want to say another thing.

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Speaker 2: If you go from W two to ten ninety nine

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Speaker 2: or self employed, you start your clock back over. So

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Speaker 2: if you go from working at the post office and

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Speaker 2: then you want to open up your event space and

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Speaker 2: quit and fire your job. Then guess what you start

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Speaker 2: all over? You start all over all right, last two

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Speaker 2: years tax returns. This is truly only if you're self

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Speaker 2: employed or if you own real estate investments. Is where

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Speaker 2: we have to look at your last two years tax returns.

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Speaker 2: If you are self employed, last thirty days of pay stuffs.

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Speaker 2: We need all pay stuffs for the past thirty years.

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Speaker 2: So if you get paid by weekly, we need the

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Speaker 2: last two. If you get paid weekly, we need the

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Speaker 2: last four. If you have multiple jobs, we need to

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Speaker 2: have all the pay stuffs for multiple jobs. Now I'm

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Speaker 2: glad of just said that to myself. Multiple jobs if

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Speaker 2: you have, if you work two jobs at the same time,

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Speaker 2: you need to have a two year consistent work history

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Speaker 2: of working those two jobs. So let's just say you

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Speaker 2: work at UPS in the daytime and then you work

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Speaker 2: at Target overnight, and you want to use both of

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Speaker 2: those incomes to help you qualify. That is okay. We

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Speaker 2: just need to show that you work that both of

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Speaker 2: these jobs consistently and consecutively at the same two year timeframe.

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Speaker 2: All right, Because a lot of people start new jobs

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Speaker 2: and they say I've been at this new job for

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Speaker 2: a year and they want to use that income. That

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Speaker 2: income won't work all right, So I just want you

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Speaker 2: guys to please understand that if you have multiple jobs

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Speaker 2: and you work in Simon TEAMUS, so you need to

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Speaker 2: have a two year history for the lenda to use

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Speaker 2: that last two months of your bank statements. All pages

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Speaker 2: very important. If your bank statement says page six of

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Speaker 2: seven and that last page is left blank, the underwriter

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Speaker 2: will still need to see page seven. Even if it

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Speaker 2: says this page is left blank intentionally, we still need

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Speaker 2: to see that statement. Now what your bank statements, what

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Speaker 2: we are looking for is the large deposits. So you

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Speaker 2: don't want to have too many large deposits, especially cash

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Speaker 2: going into your bank account, because we cannot document that transaction. Okay,

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Speaker 2: if you have NSF fees, non sufficient funds, you don't

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Speaker 2: want to show those bank statements because if you cannot

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Speaker 2: manage your money and you go a negative every month,

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Speaker 2: then why would a bank want to give you a

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Speaker 2: loan that shows you have no discipline. So you have

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Speaker 2: to make sure that there's no NSF fees. What I

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Speaker 2: try to tell everybody is this right. If you are

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Speaker 2: purchasing a home, even if you're preparing right now, you

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Speaker 2: say I want to buy six months or eight months,

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Speaker 2: open up a separate account, call that your real estate fund,

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Speaker 2: name it whatever you want to call it, right and

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Speaker 2: then have if you're gonna use your direct deposits, if

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Speaker 2: you're gonna use whatever money that you're making that you

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Speaker 2: can legally document, have that money only deposited into that account,

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Speaker 2: and don't try to do minimum transactions in that account.

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Speaker 2: That way you eliminate a lot of headache and a

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Speaker 2: lot of future paperwork. Copy of your ID has to

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Speaker 2: be a government issued ID, driver's licensed passport, and it

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Speaker 2: has to be valid. If you're getting a gift, which

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Speaker 2: is allowed for most traditional programs, conventional FHAVA, you can

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Speaker 2: get a gift, it just has to be documented with

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Speaker 2: a gift letter. And we have to see the donors'

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Speaker 2: bank statements showing them that they have the money and

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Speaker 2: they're able to gift it over to you. Now, what

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Speaker 2: a lot of people try to do, and I'm gonna

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Speaker 2: tell you this right now, don't do this. They will

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Speaker 2: have mattress money and say hey, I got fifty k

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Speaker 2: on my mattress, or to only came my mattress. I'm

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Speaker 2: gonna give it to my mom, let her deposit it,

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Speaker 2: and then she's gonna wire me the money as a gift.

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Speaker 2: Doesn't work like that. You can't do that. We're gonna

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Speaker 2: we're gonna see that all day and we won't be

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Speaker 2: able to use that money. So, if you're gonna get

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Speaker 2: a gift from a family member or meeting, or a parent,

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Speaker 2: a sibling, you have to make sure whatever amount that

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Speaker 2: they're gifting you that they have that money in their

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Speaker 2: account already. And then you're gonna need a completed loan application.

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Speaker 2: Whatever lenda that you're going to do business with, they

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Speaker 2: will be able to provide you with with that online

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Speaker 2: loan application. So again, screenshot this, save it, and study this.

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Speaker 2: All right? Okay, how do I go to the next one?

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Speaker 2: I hate this Mac? All right, So let's let's go.

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Speaker 2: Oh you see stupid Mac? All right, here we go.

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00:21:59,040 --> 00:22:01,480
Speaker 2: I'm giving you out a juice early. All right. Now,

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Speaker 2: now that you have your documents and you're ready to

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Speaker 2: go to get pre approved, But I need you guys

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Speaker 2: to understand the difference between a regular traditional pre approval

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Speaker 2: and the fully underwritten pre approval. Is right, A regular

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Speaker 2: preapproval is basically a letter that is issued by a

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Speaker 2: loan officer at the bank. They have reviewed your income,

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Speaker 2: your assets, your credit report, and they have determined that

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Speaker 2: based off of their calculations, that you can get X,

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Speaker 2: Y and Z amount of money. This is not a

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Speaker 2: commitment to lend from the bank. I need you guys

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Speaker 2: to all understand that a loan officer like myself, although

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Speaker 2: I am a great loan officer, I do not issue

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Speaker 2: loan commitments. The only person that can issue a loan

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Speaker 2: commitment on behalf of a bank is an underwriter. So,

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00:22:59,240 --> 00:23:02,280
Speaker 2: to be quite honest with you, that pre approval letter

438
00:23:02,320 --> 00:23:05,119
Speaker 2: that even myself and my team is going to give you,

439
00:23:06,280 --> 00:23:09,000
Speaker 2: it's not worth the paper is printed on because people

440
00:23:09,040 --> 00:23:12,640
Speaker 2: can have a pre approval letter and still get declined

441
00:23:12,960 --> 00:23:16,800
Speaker 2: once they get into contract for a house to buy.

442
00:23:16,920 --> 00:23:22,760
Speaker 2: This happens every single day nationwide. The reason being sometimes

443
00:23:22,800 --> 00:23:26,320
Speaker 2: loan officers make mistakes and they do not calculate your

444
00:23:26,359 --> 00:23:31,119
Speaker 2: income properly. These things happen all the time, So I

445
00:23:31,160 --> 00:23:35,800
Speaker 2: need you guys to understand pre approvals are worthless. Although

446
00:23:35,920 --> 00:23:38,800
Speaker 2: it is needed, it is needed, and I want you

447
00:23:38,800 --> 00:23:41,720
Speaker 2: guys to please understand of what I'm really truly saying here,

448
00:23:43,359 --> 00:23:45,199
Speaker 2: it is needed for you to go out there and

449
00:23:45,280 --> 00:23:47,439
Speaker 2: shop for a home. This, that, and a third. It

450
00:23:47,440 --> 00:23:49,360
Speaker 2: gives you an idea. If you got a great loan

451
00:23:49,400 --> 00:23:51,320
Speaker 2: officer like me. I like to tell people my pre

452
00:23:51,359 --> 00:23:54,199
Speaker 2: approvals are solid goal because I pre underwrite because of

453
00:23:54,240 --> 00:23:57,920
Speaker 2: my skill set, right, But not every loan officer is

454
00:23:57,920 --> 00:24:01,639
Speaker 2: built the light. So what I always recommend and my

455
00:24:01,760 --> 00:24:05,920
Speaker 2: team office and service also is a fully underwritten pre approval.

456
00:24:06,400 --> 00:24:09,840
Speaker 2: This basically means that the loan officer not only did

457
00:24:09,880 --> 00:24:16,240
Speaker 2: he review your income, credit documentation, etc. He now he's

458
00:24:16,280 --> 00:24:18,320
Speaker 2: going to pack he or she is going to package

459
00:24:18,400 --> 00:24:21,440
Speaker 2: up that loan as if you're in contract. And then

460
00:24:21,440 --> 00:24:25,119
Speaker 2: now they're going to submit that loan to underwriting and

461
00:24:25,440 --> 00:24:29,000
Speaker 2: the address is going to be a TBD address to

462
00:24:29,119 --> 00:24:32,560
Speaker 2: be determined. And now the underwriting department from the lender,

463
00:24:33,160 --> 00:24:36,399
Speaker 2: they will actually review your file as if it's a

464
00:24:36,480 --> 00:24:40,240
Speaker 2: real deal, meaning you have executed contracts of sale. They're

465
00:24:40,240 --> 00:24:42,920
Speaker 2: going to review it and they're going to issue what's

466
00:24:42,920 --> 00:24:49,479
Speaker 2: called the conditional mortgage approval or conditional loan commitment. And

467
00:24:50,280 --> 00:24:54,680
Speaker 2: this means that the lender is committing that they will

468
00:24:54,720 --> 00:24:58,399
Speaker 2: give you x, Y and z amount of dollars based

469
00:24:58,400 --> 00:25:01,560
Speaker 2: off of you meeting these conditions. Now, when we get

470
00:25:01,600 --> 00:25:04,560
Speaker 2: laid into this presentation, we're going to talk about the

471
00:25:04,640 --> 00:25:07,840
Speaker 2: underwriting process and conditions and things of that nature. But

472
00:25:08,000 --> 00:25:11,240
Speaker 2: what I love about having a fully underwritten pre approval.

473
00:25:12,280 --> 00:25:16,639
Speaker 2: This gives you all the work done upfront, so you

474
00:25:16,760 --> 00:25:20,159
Speaker 2: know exactly what the lender wants to see to close.

475
00:25:20,640 --> 00:25:22,560
Speaker 2: Three things they going to want to see is a

476
00:25:22,600 --> 00:25:27,560
Speaker 2: contract to sale, a clean tider report, and the appraisal. Right, obviously,

477
00:25:27,560 --> 00:25:30,119
Speaker 2: you don't get those things until you sign contract, but

478
00:25:30,200 --> 00:25:33,639
Speaker 2: you'll have everything else that that underwriter likes or doesn't

479
00:25:33,760 --> 00:25:37,760
Speaker 2: like on that conditional mortgage approval letter. So now you

480
00:25:37,800 --> 00:25:41,720
Speaker 2: can start working on that credit approval side while you're

481
00:25:41,720 --> 00:25:44,680
Speaker 2: out here shopping. And also once you get so let's

482
00:25:44,680 --> 00:25:46,720
Speaker 2: just say they want a lot of explanation, they want

483
00:25:46,760 --> 00:25:49,560
Speaker 2: to see the gift funds, etc. Etc. You can can

484
00:25:49,680 --> 00:25:53,920
Speaker 2: submit all these what we call conditions to the underwriting

485
00:25:53,960 --> 00:25:57,000
Speaker 2: department and they'll clear those conditions so that way, by

486
00:25:57,080 --> 00:25:59,960
Speaker 2: time you find a house, only thing you need is

487
00:26:00,040 --> 00:26:02,520
Speaker 2: probably three or four things and you can close. Now,

488
00:26:02,520 --> 00:26:05,480
Speaker 2: what this is going to do, and I'm highly recommending

489
00:26:05,560 --> 00:26:08,560
Speaker 2: everybody who's watching this live and who's going to watch

490
00:26:08,600 --> 00:26:11,000
Speaker 2: this on the replay. If you're buying a house in

491
00:26:11,040 --> 00:26:13,720
Speaker 2: today's market, if you want to be competitive, you need

492
00:26:13,760 --> 00:26:16,919
Speaker 2: a fully underwritten per approval letter because this is going

493
00:26:17,000 --> 00:26:20,399
Speaker 2: to give you that ability to close fast two to

494
00:26:20,520 --> 00:26:24,520
Speaker 2: three weeks. Right in most markets, people are still waving

495
00:26:24,600 --> 00:26:29,400
Speaker 2: financing contingencies, meaning they don't if they don't, they're waving

496
00:26:29,520 --> 00:26:34,320
Speaker 2: their right to financing. So if they get declined by bank,

497
00:26:34,359 --> 00:26:36,320
Speaker 2: it doesn't matter. They still have to buy a loan.

498
00:26:36,880 --> 00:26:41,040
Speaker 2: So when you are in and that's typically for cash buyers,

499
00:26:41,040 --> 00:26:43,159
Speaker 2: you see that. But you have some buyers who are

500
00:26:43,160 --> 00:26:46,760
Speaker 2: getting financing, who are going through this process are also

501
00:26:46,840 --> 00:26:49,720
Speaker 2: waving their financing contingencies because they know they have a

502
00:26:49,760 --> 00:26:54,119
Speaker 2: mortgage already. All right, So this gives you a competitive advantage,

503
00:26:54,200 --> 00:26:57,639
Speaker 2: especially if you're someone who's putting down three point five

504
00:26:57,800 --> 00:27:02,359
Speaker 2: five percent down payment in today's market. All right, Now,

505
00:27:02,640 --> 00:27:05,400
Speaker 2: this is all going to be hard credit polls pre approvals.

506
00:27:05,400 --> 00:27:09,080
Speaker 2: Whether you go with a fully underwritten pre approval or

507
00:27:09,280 --> 00:27:18,200
Speaker 2: traditional pre approval, it's all hard polls. Okay, pause, Hiring

508
00:27:18,280 --> 00:27:22,119
Speaker 2: the right lender, all right, Hiring the right lender is

509
00:27:22,240 --> 00:27:25,639
Speaker 2: very important. Like I said to you guys earlier, not

510
00:27:26,240 --> 00:27:31,480
Speaker 2: all loan officers are built alike. Now, these are the

511
00:27:31,520 --> 00:27:34,119
Speaker 2: three types of companies that originate loans. And I always

512
00:27:34,160 --> 00:27:36,359
Speaker 2: get the question of what's the difference between a broker

513
00:27:36,359 --> 00:27:38,920
Speaker 2: and a banker and the retail thing. So I want

514
00:27:38,960 --> 00:27:41,960
Speaker 2: you guys to screenshot this slide or so so that

515
00:27:42,080 --> 00:27:43,919
Speaker 2: way you can go back and you can reference this

516
00:27:44,000 --> 00:27:48,400
Speaker 2: on your own. A mortgage broker is basically a middleman, right.

517
00:27:49,000 --> 00:27:52,080
Speaker 2: A mortgage broker does not lend money they're going to

518
00:27:52,960 --> 00:27:57,120
Speaker 2: They are on board or signed up with several lenders

519
00:27:57,520 --> 00:28:00,480
Speaker 2: and their job is to quote unquote shot through those

520
00:28:00,560 --> 00:28:04,280
Speaker 2: lenders to see who you can get the best deal with. Right.

521
00:28:05,359 --> 00:28:10,960
Speaker 2: A mortgage banker is like MG where we lend, we process,

522
00:28:11,040 --> 00:28:15,920
Speaker 2: we underwrite, we fund, we do everything in house. Okay,

523
00:28:16,560 --> 00:28:21,120
Speaker 2: but we also sell the loan too the retail big bank,

524
00:28:21,160 --> 00:28:24,320
Speaker 2: because we're not set up for servicing. The retail big

525
00:28:24,320 --> 00:28:27,920
Speaker 2: bank is more so like the Chase, the Wells Fargos

526
00:28:27,960 --> 00:28:31,760
Speaker 2: of the world, where they offer more products, not just mortgages.

527
00:28:31,800 --> 00:28:36,480
Speaker 2: They'll offer you check in savings accounts, personal loans, auto loans.

528
00:28:36,520 --> 00:28:38,520
Speaker 2: You know, credit unions will kind of fit into this

529
00:28:38,600 --> 00:28:42,800
Speaker 2: category as well. All right, now, the difference between the

530
00:28:42,880 --> 00:28:46,520
Speaker 2: all three look. First of all, I want to just

531
00:28:46,560 --> 00:28:50,360
Speaker 2: make this clear. When you're working with any company a

532
00:28:50,520 --> 00:28:53,840
Speaker 2: Chase of Wells Fargo, you know, a loan depot, any

533
00:28:53,880 --> 00:28:56,040
Speaker 2: of the big brand names like the Quick and loans

534
00:28:56,040 --> 00:28:58,600
Speaker 2: of Rocket Mortgages, whatever you see out there, you have

535
00:28:58,680 --> 00:29:01,480
Speaker 2: to remember you're not working with that company. You're working

536
00:29:01,520 --> 00:29:03,880
Speaker 2: with the loan officer. So you have to make sure

537
00:29:03,920 --> 00:29:08,000
Speaker 2: that you're interview on these loan officers right to make

538
00:29:08,040 --> 00:29:12,080
Speaker 2: sure that they fully are capable of helping you achieve

539
00:29:12,120 --> 00:29:14,480
Speaker 2: your real estate goal. If you are looking to buy

540
00:29:14,520 --> 00:29:17,440
Speaker 2: your first primary residence, one of the questions that people

541
00:29:17,440 --> 00:29:20,320
Speaker 2: always ask me, you're Matt, what questions do you ask

542
00:29:20,400 --> 00:29:24,080
Speaker 2: when you are interviewing these people? I always tell people

543
00:29:24,120 --> 00:29:26,680
Speaker 2: to ask questions you already know the answer to. But

544
00:29:26,800 --> 00:29:29,320
Speaker 2: the very first question should be, if you're buying your

545
00:29:29,400 --> 00:29:33,800
Speaker 2: primary house, ask them are they a homeowner? Very simple?

546
00:29:34,920 --> 00:29:37,239
Speaker 2: Are you a homeowner? If you're looking to buy an

547
00:29:37,280 --> 00:29:41,800
Speaker 2: investment property, ask them do you own investment properties? Currently?

548
00:29:43,160 --> 00:29:44,960
Speaker 2: I am of the firm belief, and this is no

549
00:29:45,040 --> 00:29:48,120
Speaker 2: disrespect to anybody in my industry who does not own

550
00:29:48,120 --> 00:29:50,760
Speaker 2: a home or investment properties right now. But I am

551
00:29:50,800 --> 00:29:52,880
Speaker 2: on the firm belief that if you are going to

552
00:29:52,960 --> 00:29:58,960
Speaker 2: work with someone, they should actually own real estate right

553
00:29:59,600 --> 00:30:03,680
Speaker 2: because how can they really identify with you right in

554
00:30:03,960 --> 00:30:07,240
Speaker 2: the process of what you're going to go through. That's

555
00:30:07,360 --> 00:30:10,040
Speaker 2: just me personally. So these are some of the questions

556
00:30:10,040 --> 00:30:12,840
Speaker 2: that I would ask, and then ask them questions that

557
00:30:12,920 --> 00:30:16,040
Speaker 2: you already know the answers to. Right. You may know

558
00:30:16,080 --> 00:30:18,120
Speaker 2: a little bit about faha, you may know a little

559
00:30:18,160 --> 00:30:21,240
Speaker 2: bit about conventional So ask them three or four things

560
00:30:21,240 --> 00:30:23,760
Speaker 2: that you know the answer to like the back of

561
00:30:23,800 --> 00:30:26,240
Speaker 2: your hand, and just see how they're going to answer

562
00:30:26,520 --> 00:30:30,320
Speaker 2: those questions. You'll be surprised that a lot of people

563
00:30:30,520 --> 00:30:33,480
Speaker 2: just don't know what they're doing. And by you asking

564
00:30:33,560 --> 00:30:35,840
Speaker 2: questions you already know the answer to, you can kind

565
00:30:35,840 --> 00:30:38,600
Speaker 2: of get an understanding of their knowledge base, and then

566
00:30:38,640 --> 00:30:40,320
Speaker 2: you can kind of dig a little bit deeper from

567
00:30:40,320 --> 00:30:44,600
Speaker 2: there and determine if he or she will be right

568
00:30:44,680 --> 00:30:46,400
Speaker 2: to be a part of your real estate team, because

569
00:30:46,440 --> 00:30:48,800
Speaker 2: you have to remember, guys, whether you're buying your first

570
00:30:48,800 --> 00:30:51,320
Speaker 2: house or your tenth house, this is a business. Real

571
00:30:51,440 --> 00:30:53,200
Speaker 2: estate is a business. If you can follow on your

572
00:30:53,200 --> 00:30:55,320
Speaker 2: tax in terms of get tax deductions. It's a business.

573
00:30:55,320 --> 00:30:56,520
Speaker 2: I don't care if you're gonna live in it. I

574
00:30:56,560 --> 00:30:58,760
Speaker 2: don't care when nobody tells you. So you have to

575
00:30:58,800 --> 00:31:02,120
Speaker 2: always remember you are the CEO of your business. You

576
00:31:02,400 --> 00:31:05,280
Speaker 2: are in charge. You have to put your team together,

577
00:31:05,320 --> 00:31:11,360
Speaker 2: and you have to make sure that everybody on your team, lenders, realtors, attorneys,

578
00:31:11,440 --> 00:31:15,920
Speaker 2: whoever it is, everybody has your best interests in mind,

579
00:31:16,520 --> 00:31:19,400
Speaker 2: all right, Always remember that. So these are the three

580
00:31:19,440 --> 00:31:22,360
Speaker 2: types of companies that originate loans. Just one to give

581
00:31:22,360 --> 00:31:24,000
Speaker 2: you guys a little bit game on this so you

582
00:31:24,040 --> 00:31:27,760
Speaker 2: can kind of understand who's who are what are the players?

583
00:31:27,960 --> 00:31:33,680
Speaker 2: All right, let's talk about some loan programs, all right,

584
00:31:33,720 --> 00:31:38,080
Speaker 2: So I'm gonna stick to the usual suspects tonight. We

585
00:31:38,160 --> 00:31:42,080
Speaker 2: got a minimum five eight's credit score for FHA, three

586
00:31:42,120 --> 00:31:47,040
Speaker 2: point five percent down payment is required. Max sells concession

587
00:31:47,480 --> 00:31:50,200
Speaker 2: is six percent. A sellers concession is one the seller

588
00:31:50,280 --> 00:31:56,680
Speaker 2: agrees to pay a portion or all of your closing costs. Now,

589
00:31:56,720 --> 00:32:00,320
Speaker 2: a sellers concession is not guaranteed. A sellers concent session,

590
00:32:01,040 --> 00:32:04,600
Speaker 2: how gets included into your loan amount only if the

591
00:32:04,720 --> 00:32:08,160
Speaker 2: house appraises for the higher value. So I'm gonna give

592
00:32:08,160 --> 00:32:11,600
Speaker 2: you guys a quick example, and I'm gonna use easy numbers,

593
00:32:11,840 --> 00:32:15,240
Speaker 2: just acting as an example. If you're buying a home

594
00:32:15,320 --> 00:32:18,240
Speaker 2: for one hundred thousand dollars and you want to get

595
00:32:18,240 --> 00:32:23,840
Speaker 2: a six percent sellers concession, which is six thousand dollars, right,

596
00:32:24,040 --> 00:32:27,280
Speaker 2: a six percent sales concession six thousand dollars on one

597
00:32:27,360 --> 00:32:31,160
Speaker 2: hundred k. That means one hundred and six thousand dollars

598
00:32:31,280 --> 00:32:34,240
Speaker 2: is what your house, the house has to appraise for

599
00:32:34,720 --> 00:32:38,080
Speaker 2: in order for you to get a sealers concession. And

600
00:32:38,160 --> 00:32:41,520
Speaker 2: now your down payment is based off of the one

601
00:32:41,600 --> 00:32:45,320
Speaker 2: hundred and six thousand, not the one hundred thousand. The

602
00:32:45,400 --> 00:32:48,760
Speaker 2: seller will still net the one hundred, but those that

603
00:32:48,920 --> 00:32:52,280
Speaker 2: six thousand is being is increasing your finance and so

604
00:32:52,320 --> 00:32:56,480
Speaker 2: you can get a credit for your closing costs. That's

605
00:32:56,520 --> 00:32:59,120
Speaker 2: how a sales concession works. So if you're in a

606
00:32:59,160 --> 00:33:03,760
Speaker 2: competitive market like we are now, I believe the opportunity

607
00:33:03,840 --> 00:33:06,480
Speaker 2: for buyers to get sellers concessions are going to come

608
00:33:06,520 --> 00:33:10,280
Speaker 2: back as interest rates skyrocket. So I will encourage all

609
00:33:10,360 --> 00:33:13,520
Speaker 2: my buyers who are watching this. Closed mouth does not

610
00:33:13,560 --> 00:33:17,720
Speaker 2: get fed. I repeat, closed mouth does not get fed.

611
00:33:18,200 --> 00:33:20,840
Speaker 2: It doesn't hurt the ask, but consult with your real

612
00:33:20,920 --> 00:33:24,240
Speaker 2: estate professional who's making the office on your behalf to

613
00:33:24,280 --> 00:33:27,160
Speaker 2: see what the market is dictating at that moment before

614
00:33:27,240 --> 00:33:32,080
Speaker 2: you ask, because you don't want to put yourself at

615
00:33:32,080 --> 00:33:37,600
Speaker 2: a disadvantage at the same time, all right, one to

616
00:33:37,640 --> 00:33:42,960
Speaker 2: four family FAHA approved condos and mixed use properties are

617
00:33:43,040 --> 00:33:46,160
Speaker 2: allowed with FAHA. Now, for those of you who do

618
00:33:46,240 --> 00:33:49,240
Speaker 2: not know what a mixed use property is, this is

619
00:33:49,320 --> 00:33:53,920
Speaker 2: basically a commercial building. It will have typically in the Northeast.

620
00:33:54,040 --> 00:33:57,760
Speaker 2: How a mixed use property looks is a storefront on

621
00:33:57,880 --> 00:34:01,280
Speaker 2: the bottom and residential units on a on the tottom.

622
00:34:01,720 --> 00:34:06,160
Speaker 2: Think about your local bodeggas right, that is mixed use properties.

623
00:34:07,200 --> 00:34:09,279
Speaker 2: The key with the mixed use properties for it to

624
00:34:09,280 --> 00:34:13,840
Speaker 2: be approved for FHA, it cannot exceed four total units

625
00:34:14,239 --> 00:34:19,200
Speaker 2: with the commercial and the residential, and the residential units

626
00:34:19,280 --> 00:34:23,680
Speaker 2: have to be fifty one percent of the liverable square footage.

627
00:34:24,880 --> 00:34:29,279
Speaker 2: So if you can find a mixed use property, this

628
00:34:29,320 --> 00:34:31,520
Speaker 2: can be a gold mod for your first time home

629
00:34:31,600 --> 00:34:36,400
Speaker 2: buyers because now commercial rent is going to be higher

630
00:34:36,400 --> 00:34:40,120
Speaker 2: than residential, so eventually this will give you more cash flow.

631
00:34:40,640 --> 00:34:44,080
Speaker 2: So this is a great opportunity for those buyers out

632
00:34:44,080 --> 00:34:47,439
Speaker 2: there who live in areas where there are these type

633
00:34:47,440 --> 00:34:51,520
Speaker 2: of properties. To buy a commercial building with as little

634
00:34:51,560 --> 00:34:56,800
Speaker 2: as three point five percent down payment, all right, seventy

635
00:34:56,800 --> 00:34:59,040
Speaker 2: five percent of the rental income can be used to

636
00:34:59,080 --> 00:35:02,320
Speaker 2: help you qualify five on a two to four unit property.

637
00:35:03,000 --> 00:35:05,440
Speaker 2: So easy numbers for you guys right now. So if

638
00:35:05,440 --> 00:35:08,880
Speaker 2: the rental income is one thousand dollars, the lender will

639
00:35:09,000 --> 00:35:12,400
Speaker 2: use seven hundred and fifty dollars of that thousand dollars

640
00:35:12,880 --> 00:35:16,279
Speaker 2: to help you qualify for the loan, even if the

641
00:35:16,440 --> 00:35:22,680
Speaker 2: property is vacant. Okay, three to four unit properties or

642
00:35:23,280 --> 00:35:27,920
Speaker 2: triplex and quads in certain areas will require at minimum

643
00:35:27,960 --> 00:35:32,200
Speaker 2: three months of reserves. What are reserves? MG Reserves are

644
00:35:32,760 --> 00:35:35,680
Speaker 2: your mortgage payment times three. So if your mortgage payment

645
00:35:35,760 --> 00:35:38,360
Speaker 2: is one thousand dollars a month, then you need to

646
00:35:38,400 --> 00:35:43,239
Speaker 2: have at least three thousand dollars post closing, either in

647
00:35:43,320 --> 00:35:46,000
Speaker 2: your checking, your savings, your brokerage, your four one K.

648
00:35:46,640 --> 00:35:51,120
Speaker 2: It needs to be able to be liquidated, obviously, so

649
00:35:51,160 --> 00:35:53,000
Speaker 2: the bank will want to see proof that you can

650
00:35:53,120 --> 00:35:56,200
Speaker 2: liquidate it if needed to. But as long as you

651
00:35:56,320 --> 00:35:59,720
Speaker 2: have it, then boom, you will qualify. Another thing about

652
00:36:00,239 --> 00:36:02,680
Speaker 2: three or four family unit it's very important. I didn't

653
00:36:02,680 --> 00:36:06,160
Speaker 2: put this on the slide. It's called the FHA self

654
00:36:06,160 --> 00:36:11,920
Speaker 2: sufficiency Test. The FAHA self sufficiency test very important with

655
00:36:12,080 --> 00:36:15,840
Speaker 2: this basically means that it doesn't matter if you qualify,

656
00:36:15,960 --> 00:36:18,200
Speaker 2: you've been pre approved. If you're looking to buy a

657
00:36:18,200 --> 00:36:21,520
Speaker 2: three to four family if that house is not self sufficient,

658
00:36:22,560 --> 00:36:25,799
Speaker 2: then FAHA will not fund that three or four family unit.

659
00:36:26,040 --> 00:36:29,040
Speaker 2: So for an example, let's just say if your mortgage

660
00:36:29,040 --> 00:36:33,640
Speaker 2: payment is one thousand dollars a month, and you're buying

661
00:36:33,640 --> 00:36:37,680
Speaker 2: a four family unit, and let's just say all of

662
00:36:37,719 --> 00:36:41,520
Speaker 2: the rental unit on this property equals up to one

663
00:36:41,520 --> 00:36:45,280
Speaker 2: thousand dollars a month, So let's just say two hundred

664
00:36:45,280 --> 00:36:47,760
Speaker 2: and fifty dollars per unit. Again, I'm using real simple

665
00:36:47,840 --> 00:36:52,040
Speaker 2: numbers for you guys. We're gonna use seventy five percent

666
00:36:52,080 --> 00:36:54,560
Speaker 2: of that thousand dollars, which gives you seven hundred and

667
00:36:54,600 --> 00:36:58,600
Speaker 2: fifty dollars. But your mortgage payment is one thousand dollars,

668
00:36:58,920 --> 00:37:02,080
Speaker 2: So now that property is negative by two hundred and

669
00:37:02,080 --> 00:37:06,640
Speaker 2: fifty dollars, So that property is not self sufficient. So

670
00:37:06,920 --> 00:37:13,160
Speaker 2: after that seventy five percent value that's taken away the mortgage,

671
00:37:13,239 --> 00:37:16,360
Speaker 2: that seventy five percent needs to be one thousand dollars

672
00:37:16,360 --> 00:37:19,560
Speaker 2: minimum to cover. So in that case, you would need

673
00:37:19,600 --> 00:37:23,759
Speaker 2: at least a fifteen hundred dollars mortgage at a very

674
00:37:24,120 --> 00:37:28,680
Speaker 2: a fifteen hundred dollars rental income to qualify for the

675
00:37:28,840 --> 00:37:32,880
Speaker 2: FHA self sufficiency test. So that's very important. Guys. For

676
00:37:32,960 --> 00:37:35,680
Speaker 2: those of you out there who are looking to purchase

677
00:37:35,760 --> 00:37:39,080
Speaker 2: three or four family profits with FHA, it's very important

678
00:37:39,120 --> 00:37:43,600
Speaker 2: you understand the FHA self sufficiency test. If you have

679
00:37:43,680 --> 00:37:46,400
Speaker 2: a pre approval for a three or four family, contact

680
00:37:46,400 --> 00:37:49,799
Speaker 2: that loan officer and make sure that they understand the

681
00:37:49,920 --> 00:37:56,759
Speaker 2: FHA self sufficiency test all right. Grants, gifts for one

682
00:37:56,840 --> 00:38:01,160
Speaker 2: kids can be used, co signers can be use. Max

683
00:38:01,200 --> 00:38:04,200
Speaker 2: loan amount are based on the FAHA county loan limits.

684
00:38:04,600 --> 00:38:07,200
Speaker 2: Easy way to find your FAHA county loan limits is

685
00:38:07,360 --> 00:38:11,879
Speaker 2: just google your county and just put you know, if

686
00:38:11,920 --> 00:38:14,160
Speaker 2: I'm in Nasaal County right now, so I'll put Nasau

687
00:38:14,239 --> 00:38:18,839
Speaker 2: County FAHA twenty twenty two loan limits and they'll come

688
00:38:18,920 --> 00:38:22,359
Speaker 2: right up right. So, but you have to check case

689
00:38:22,400 --> 00:38:25,280
Speaker 2: certain states like New York, this is a high cost area.

690
00:38:25,560 --> 00:38:27,879
Speaker 2: We can get approved for more money like a four

691
00:38:27,960 --> 00:38:29,920
Speaker 2: family we can go up to one point nine million.

692
00:38:30,480 --> 00:38:33,160
Speaker 2: In other areas you can't go that high. So you

693
00:38:33,280 --> 00:38:36,280
Speaker 2: have to really check to see if FHA will even

694
00:38:36,440 --> 00:38:40,520
Speaker 2: allow because of those county loan limits. And most importantly,

695
00:38:41,760 --> 00:38:47,960
Speaker 2: most importantly, FAHA is only for primary residents only. When

696
00:38:47,960 --> 00:38:50,440
Speaker 2: you are speaking to a Linda, take the word investment

697
00:38:50,640 --> 00:38:55,120
Speaker 2: out of your vocabulary. Yes, we know it's a multifamily

698
00:38:55,680 --> 00:38:58,759
Speaker 2: and it will be a quart unquote investment, but you

699
00:38:58,880 --> 00:39:05,680
Speaker 2: have to start using determinology owner occupied multi family and

700
00:39:06,080 --> 00:39:09,640
Speaker 2: FAHA requires you to live in this for one year.

701
00:39:10,160 --> 00:39:12,480
Speaker 2: After one year, if you want to move out and

702
00:39:13,680 --> 00:39:16,720
Speaker 2: live your best life, go right ahead. But don't commit

703
00:39:16,719 --> 00:39:22,279
Speaker 2: mortgage fraud. Guys, don't commit mortgage froud. All right, let's

704
00:39:22,280 --> 00:39:24,239
Speaker 2: get busy. Let's talk about some student loans because a

705
00:39:24,239 --> 00:39:25,879
Speaker 2: lot of you guys got student loans. If you got

706
00:39:25,880 --> 00:39:28,640
Speaker 2: student loans loans, please type yes in the chat. Please.

707
00:39:29,000 --> 00:39:32,920
Speaker 2: If you have student loans, please type yes in the chat.

708
00:39:33,640 --> 00:39:40,000
Speaker 2: While I take some quick water break. Troy shot, I'm

709
00:39:40,000 --> 00:39:40,600
Speaker 2: good on time.

710
00:39:42,800 --> 00:39:43,560
Speaker 3: World is yours?

711
00:39:43,600 --> 00:39:44,359
Speaker 4: Man? You know that?

712
00:39:44,360 --> 00:39:44,560
Speaker 3: Man?

713
00:39:45,360 --> 00:39:46,279
Speaker 2: All right, say no more.

714
00:39:46,880 --> 00:39:53,440
Speaker 6: Don't commit mortgage fraud please number one.

715
00:39:54,120 --> 00:39:55,400
Speaker 2: I had to say it three times.

716
00:39:55,400 --> 00:39:56,920
Speaker 4: Bro, This is a message brought to you by the

717
00:39:56,920 --> 00:39:58,600
Speaker 4: good folks that this.

718
00:39:58,600 --> 00:40:05,600
Speaker 2: Is disclaimer guidelines. All right, So we got a lot

719
00:40:05,600 --> 00:40:07,520
Speaker 2: of people on the YouTube chat that's talking about they

720
00:40:07,560 --> 00:40:09,719
Speaker 2: got student loans. So then you guys need to go

721
00:40:09,760 --> 00:40:13,600
Speaker 2: ahead and screenshot this if you are FAHA potential borrower.

722
00:40:13,920 --> 00:40:18,040
Speaker 2: The great thing is FAHA changed the student loan guidelines

723
00:40:18,120 --> 00:40:20,560
Speaker 2: about a year ago, which was a home run for

724
00:40:20,600 --> 00:40:23,439
Speaker 2: you guys. This is breaking down the calculations of it, right.

725
00:40:23,760 --> 00:40:26,520
Speaker 2: So FAHA uses the payment listed on the credit report

726
00:40:26,880 --> 00:40:29,799
Speaker 2: or account statement, but if the loan is deferred or

727
00:40:29,920 --> 00:40:32,759
Speaker 2: for barans, the lender would use half a point of

728
00:40:32,880 --> 00:40:35,360
Speaker 2: the outstanding balance. Let me give you a couple examples.

729
00:40:35,719 --> 00:40:37,799
Speaker 2: If the payment on your credit report, let's just say

730
00:40:37,840 --> 00:40:40,759
Speaker 2: you owe two hundred thousand K and student loans and

731
00:40:40,800 --> 00:40:43,239
Speaker 2: your credit report shows that your monthly payment is three

732
00:40:43,280 --> 00:40:47,080
Speaker 2: hundred dollars, the lender will use the actual documented payment

733
00:40:47,120 --> 00:40:50,239
Speaker 2: on your credit report three hundred dollars a year ago.

734
00:40:51,120 --> 00:40:53,879
Speaker 2: A year ago that was not the case, the lender

735
00:40:53,880 --> 00:40:56,200
Speaker 2: will probably use close to two thousand dollars or one

736
00:40:56,239 --> 00:41:00,160
Speaker 2: percent rule right payment not on a credit report. If

737
00:41:00,200 --> 00:41:02,319
Speaker 2: your payment, if your balance to your federal loans is

738
00:41:02,320 --> 00:41:05,040
Speaker 2: fifty K and a monthly payment on your credit report

739
00:41:05,040 --> 00:41:08,120
Speaker 2: is zero, the lender will still use two hundred and

740
00:41:08,160 --> 00:41:10,839
Speaker 2: fifty dollars as your payment, will calculate it into your

741
00:41:10,880 --> 00:41:13,680
Speaker 2: debt to income ratio although you have a zero payment.

742
00:41:14,000 --> 00:41:16,839
Speaker 2: Why because we're using a half a point of that

743
00:41:17,120 --> 00:41:20,880
Speaker 2: fifty thousand. A year ago we were using one percent,

744
00:41:21,400 --> 00:41:26,000
Speaker 2: and it will be five hundred dollars incorporated into your

745
00:41:26,040 --> 00:41:29,839
Speaker 2: debt to income ratio if the payment is zero on

746
00:41:29,880 --> 00:41:32,960
Speaker 2: your credit report. Let's say you owe seventy K and

747
00:41:33,040 --> 00:41:35,560
Speaker 2: federal loans and your credit report shows a monthly payment

748
00:41:35,560 --> 00:41:38,520
Speaker 2: is zero. The lender will use three hundred and fifty

749
00:41:38,560 --> 00:41:43,000
Speaker 2: dollars for your payment, unless you acts the servicer to

750
00:41:43,040 --> 00:41:47,320
Speaker 2: recalculate the payment due to a significant change or family size.

751
00:41:47,360 --> 00:41:49,839
Speaker 2: That can be known as an income based repayment plan.

752
00:41:50,440 --> 00:41:53,680
Speaker 2: Right if your loan is in deferment. If you all

753
00:41:53,840 --> 00:41:56,279
Speaker 2: hundred K federal loans and your credit report shows that

754
00:41:56,320 --> 00:41:58,799
Speaker 2: the loans aren't deferment, the loan officer you will use

755
00:41:58,840 --> 00:42:02,239
Speaker 2: five hundred dollars as your actual monthly payment unless you

756
00:42:02,280 --> 00:42:05,360
Speaker 2: can document from the servicer that you have a lower

757
00:42:05,360 --> 00:42:10,320
Speaker 2: payment under income driven repayment plan when that deferment ends.

758
00:42:10,719 --> 00:42:16,200
Speaker 2: So guys, these rules completely change and FAHA and conventional

759
00:42:16,280 --> 00:42:19,080
Speaker 2: had boxed out so many people with student loans because

760
00:42:19,080 --> 00:42:22,839
Speaker 2: of the stupid as one percent calculation, right, even though

761
00:42:22,840 --> 00:42:26,120
Speaker 2: you wasn't paying that much, we still had to calculate

762
00:42:26,200 --> 00:42:30,520
Speaker 2: one percent. With these new options, that's available for you.

763
00:42:30,880 --> 00:42:37,720
Speaker 2: The government understood and understands that it's difficult for people

764
00:42:37,800 --> 00:42:39,800
Speaker 2: who are going to school and coming out with large

765
00:42:39,800 --> 00:42:43,319
Speaker 2: debt to buy real estate. So they're trying to encourage

766
00:42:43,520 --> 00:42:47,600
Speaker 2: home ownership. So they change the guidelines, which I think

767
00:42:47,719 --> 00:42:50,680
Speaker 2: is a home run for everybody who typed yes and

768
00:42:50,800 --> 00:42:55,000
Speaker 2: chat that they have student loans. So again, screenshot this

769
00:42:55,760 --> 00:43:01,800
Speaker 2: study it and let's move forward. Let's talk about student

770
00:43:01,840 --> 00:43:04,600
Speaker 2: loans that are collections. A lot of you are in collections.

771
00:43:05,120 --> 00:43:09,000
Speaker 2: You are default on your student loans. Please understand, if

772
00:43:09,040 --> 00:43:11,680
Speaker 2: you are in collections or default, you will not get

773
00:43:11,719 --> 00:43:15,319
Speaker 2: a loan until you take those student loans out of

774
00:43:15,480 --> 00:43:20,840
Speaker 2: the firm out of default or collection status. So please, please, please,

775
00:43:21,800 --> 00:43:24,200
Speaker 2: even if it's not popping up on your credit report,

776
00:43:24,800 --> 00:43:28,600
Speaker 2: remember lenders are doing basic they're basically doing background checks.

777
00:43:29,120 --> 00:43:31,960
Speaker 2: We run a system called caveas we will find that

778
00:43:32,040 --> 00:43:35,560
Speaker 2: you have some debt, some student loan debt, and we

779
00:43:35,640 --> 00:43:38,960
Speaker 2: will tell you no your decline. So if you know

780
00:43:39,000 --> 00:43:42,680
Speaker 2: you have that debt, work out some payment arrangement and

781
00:43:43,160 --> 00:43:48,600
Speaker 2: move forward. How to fund grants? I want you to

782
00:43:48,680 --> 00:43:53,440
Speaker 2: all screenshot this, Okay, I want you to all screenshot

783
00:43:53,520 --> 00:43:56,160
Speaker 2: this website. And I'm actually gonna try to go to

784
00:43:56,160 --> 00:44:01,320
Speaker 2: this website. Let's see. Can Y still see my screen?

785
00:44:05,120 --> 00:44:06,960
Speaker 2: All right? So let me see it. I'm gonna move

786
00:44:07,000 --> 00:44:12,600
Speaker 2: this damn how you move this stupid zoom bar? Ya

787
00:44:12,640 --> 00:44:15,399
Speaker 2: who said the Mac was good? Shout out the Apple though,

788
00:44:16,400 --> 00:44:17,240
Speaker 2: But I can't.

789
00:44:17,600 --> 00:44:19,880
Speaker 4: Just click clicked one of those things, right and the

790
00:44:20,080 --> 00:44:20,920
Speaker 4: type the website.

791
00:44:21,360 --> 00:44:23,840
Speaker 2: No, I haven't already opened, but I can't move the

792
00:44:23,880 --> 00:44:32,360
Speaker 2: stupid bar. Uh all right, why is the bar not moving?

793
00:44:33,360 --> 00:44:33,520
Speaker 10: Ah?

794
00:44:33,640 --> 00:44:35,120
Speaker 2: There we go? There we go, There we go, there

795
00:44:35,160 --> 00:44:38,480
Speaker 2: we go. Bat here we go? All right? Can I

796
00:44:38,600 --> 00:44:44,680
Speaker 2: still see my screen? So we at the local home buying? Right?

797
00:44:44,719 --> 00:44:47,440
Speaker 2: So remember I was just here. This is the website.

798
00:44:47,719 --> 00:44:49,440
Speaker 2: Let me go back to it real quick. As you

799
00:44:49,480 --> 00:44:51,719
Speaker 2: can tell. I'm not that computer savvy, So I'm back

800
00:44:51,760 --> 00:44:54,840
Speaker 2: at the website. Hud dot gov. Hot, hud dot gov.

801
00:44:55,080 --> 00:44:59,759
Speaker 2: Forward slash buying, forward slash local buying. Somebody typed that

802
00:44:59,840 --> 00:45:05,120
Speaker 2: in chat hud dot gov forward slash buying, forward slash

803
00:45:05,360 --> 00:45:10,239
Speaker 2: local buying. All right, Ari, I see you in the

804
00:45:10,360 --> 00:45:13,959
Speaker 2: YouTube chat that put that link in the chat for me, Ari.

805
00:45:14,800 --> 00:45:16,880
Speaker 2: So this is the website. This is what it looked like.

806
00:45:17,160 --> 00:45:19,239
Speaker 2: A lot of people don't even understand that there's a

807
00:45:19,239 --> 00:45:22,719
Speaker 2: lot of money out there, especially through a lot of

808
00:45:22,760 --> 00:45:25,880
Speaker 2: local programs, and people are always asking me, how do

809
00:45:25,920 --> 00:45:29,000
Speaker 2: you find this money? Well, this is one website that

810
00:45:29,040 --> 00:45:31,360
Speaker 2: people don't know. And you see you have all fifty

811
00:45:31,400 --> 00:45:36,200
Speaker 2: states right here. So I'm going to pick a state, right, Uh,

812
00:45:36,600 --> 00:45:38,319
Speaker 2: give me a state. Somebody give me a state, Troy,

813
00:45:38,320 --> 00:45:38,839
Speaker 2: give me a state.

814
00:45:40,800 --> 00:45:42,200
Speaker 4: Uh, California.

815
00:45:42,520 --> 00:45:47,960
Speaker 2: Let's go to Cali, California. All right, So we're in Cali.

816
00:45:48,440 --> 00:45:50,520
Speaker 2: So you see it says home ownership. You got to

817
00:45:50,560 --> 00:45:53,160
Speaker 2: getting started. So if you look right here, it says

818
00:45:53,160 --> 00:45:55,480
Speaker 2: buying a home. So you can even see if you

819
00:45:55,520 --> 00:45:57,399
Speaker 2: got HUD homes for sale right here, you got home

820
00:45:57,440 --> 00:46:01,120
Speaker 2: ownership vouchers right there. Right, you even got stuff for

821
00:46:01,160 --> 00:46:05,080
Speaker 2: home repairs and avoiding foreclosure. But let's talk about assistance

822
00:46:05,120 --> 00:46:08,040
Speaker 2: and programs. Click on that now as you see here

823
00:46:08,600 --> 00:46:12,279
Speaker 2: homeowners Ship Assistance for California. You've got state wide and

824
00:46:12,320 --> 00:46:16,879
Speaker 2: regional programs, and you have all the programs right here.

825
00:46:17,160 --> 00:46:21,319
Speaker 2: How you can even go by sort by city or county. Right,

826
00:46:21,360 --> 00:46:26,200
Speaker 2: So let's go sorted by county. Where's La la is.

827
00:46:27,520 --> 00:46:31,480
Speaker 2: Let's see, let's take it. Let's go to Fresno. Let's

828
00:46:31,480 --> 00:46:34,359
Speaker 2: see what's in Fresno. No, it wants me to leave.

829
00:46:34,440 --> 00:46:36,200
Speaker 2: I'm not gonna take no chance. I'm not gonna leave

830
00:46:36,239 --> 00:46:38,439
Speaker 2: the website because I don't know of it. But y'all

831
00:46:38,440 --> 00:46:41,080
Speaker 2: see how easy that is. Right, Let's go to Let's

832
00:46:41,120 --> 00:46:44,359
Speaker 2: go to another state. Right, let's go to Illinois. Since

833
00:46:44,360 --> 00:46:48,120
Speaker 2: it's right here, same thing, real easy to find. Look

834
00:46:48,160 --> 00:46:52,960
Speaker 2: for buying for a home. Homeownership assistant programs. You go

835
00:46:53,120 --> 00:46:56,600
Speaker 2: right here, you scroll down. You got all the state

836
00:46:56,600 --> 00:47:01,160
Speaker 2: wide and region new programs all right here for you guys.

837
00:47:01,719 --> 00:47:05,680
Speaker 2: Programs by the city. You got contact information right here.

838
00:47:06,280 --> 00:47:09,279
Speaker 2: You got who you can contact for what city it's in.

839
00:47:10,040 --> 00:47:13,560
Speaker 2: It's all right here, ladies and gentlemen, it's all right here,

840
00:47:14,120 --> 00:47:17,280
Speaker 2: right under your nose. And they don't talk about this stuff,

841
00:47:17,719 --> 00:47:20,600
Speaker 2: and it's very simple and easy to find. I'm gonna

842
00:47:20,600 --> 00:47:23,439
Speaker 2: go to New York because we're in New York, right

843
00:47:23,560 --> 00:47:26,440
Speaker 2: assistance and programs, and then you have all the New

844
00:47:26,520 --> 00:47:30,600
Speaker 2: York programs and even by city by town, you got

845
00:47:30,640 --> 00:47:34,239
Speaker 2: Long Island, New York, Hudson Valley upstate, and you have

846
00:47:34,360 --> 00:47:38,440
Speaker 2: contact numbers, you have websites, emails. I mean, you have

847
00:47:38,520 --> 00:47:41,239
Speaker 2: everything that you need up here to find you some

848
00:47:41,280 --> 00:47:46,520
Speaker 2: free money, all right, everything you need up here to

849
00:47:46,640 --> 00:47:48,560
Speaker 2: find your money. And New York got a lot of money.

850
00:47:48,760 --> 00:47:52,000
Speaker 2: You see how long that list was. So this is

851
00:47:52,040 --> 00:47:55,400
Speaker 2: what I wanted to explain to you guys. You have

852
00:47:55,520 --> 00:47:58,000
Speaker 2: to do your homework, you have to do your due diligence.

853
00:47:58,040 --> 00:47:59,480
Speaker 2: And this is why I want to take you to

854
00:47:59,520 --> 00:48:02,799
Speaker 2: the webstite versus me just having this on my PowerPoint

855
00:48:03,040 --> 00:48:06,320
Speaker 2: because I want you guys to be able to find

856
00:48:06,360 --> 00:48:10,680
Speaker 2: this stuff on your own. All right. So again, the

857
00:48:10,719 --> 00:48:17,239
Speaker 2: website is hud dot gov forward slash Buying, forward slash

858
00:48:17,520 --> 00:48:25,560
Speaker 2: local Buying. Okay, there you have it, and mothershad voice,

859
00:48:25,920 --> 00:48:29,319
Speaker 2: let's get the conventional financing we're heating up now. Six

860
00:48:29,440 --> 00:48:32,440
Speaker 2: to twenty minimum credit score, minimum down payment, three to

861
00:48:32,480 --> 00:48:35,360
Speaker 2: fifteen percent, depending on what type of property you're buying,

862
00:48:35,360 --> 00:48:39,480
Speaker 2: whether it's a one family or multifamily who max Sell's

863
00:48:39,480 --> 00:48:41,920
Speaker 2: concession allowed is three percent. You can buy one to

864
00:48:41,960 --> 00:48:46,160
Speaker 2: four family and fanymake approved condos and co ops and

865
00:48:46,200 --> 00:48:49,799
Speaker 2: input coops up there with co ops as well. Max

866
00:48:49,840 --> 00:48:53,040
Speaker 2: loan amount is based on Fandymade loan limits. Again, all

867
00:48:53,040 --> 00:48:56,160
Speaker 2: you have to do is google Fany Maade twenty twenty

868
00:48:56,200 --> 00:49:00,440
Speaker 2: two loan limits and you will have all the information

869
00:49:00,520 --> 00:49:04,200
Speaker 2: you need right there. Grants gifts and for one K

870
00:49:04,520 --> 00:49:07,600
Speaker 2: is allowed, you have to live in the property for

871
00:49:07,680 --> 00:49:12,440
Speaker 2: one year if it is your primary residence. Also, now

872
00:49:13,000 --> 00:49:15,800
Speaker 2: we're going to take you back to another website. Now,

873
00:49:16,640 --> 00:49:18,560
Speaker 2: before we get there, let's talk about the Fanny Man

874
00:49:18,680 --> 00:49:22,359
Speaker 2: Freddie Mac's student loan guidelines. It's pretty much the same thing,

875
00:49:22,400 --> 00:49:26,000
Speaker 2: but I like freddie guidelines better. So, if you are

876
00:49:26,840 --> 00:49:31,160
Speaker 2: going conventional and it's student loans, listening on a credit

877
00:49:31,239 --> 00:49:36,840
Speaker 2: report is zero or if it's deferred or forbearance, the

878
00:49:36,960 --> 00:49:41,120
Speaker 2: lender is going to use the one percent balance to

879
00:49:41,280 --> 00:49:44,560
Speaker 2: calculate it. So if you have that situation, you probably

880
00:49:44,600 --> 00:49:46,680
Speaker 2: don't want to go Fannie May. You want to go

881
00:49:46,760 --> 00:49:50,399
Speaker 2: Freddie Mac because Freddie Mac is like Faha, where they'll

882
00:49:50,480 --> 00:49:53,840
Speaker 2: use a half a percent of the loan balance to qualify.

883
00:49:53,960 --> 00:49:56,279
Speaker 2: So the examples that I give you guys early on

884
00:49:56,320 --> 00:49:59,160
Speaker 2: how to calculate is the same exact for both Fannie

885
00:49:59,160 --> 00:50:02,480
Speaker 2: Mae and Freddie Mac. But if you're going conventional with

886
00:50:03,680 --> 00:50:07,200
Speaker 2: student loans, your best bet is to act the lender

887
00:50:08,120 --> 00:50:11,120
Speaker 2: or tell the lender not even ask, because you're the boss.

888
00:50:11,520 --> 00:50:14,280
Speaker 2: You tell the lender you need to have a Freddie

889
00:50:14,360 --> 00:50:19,920
Speaker 2: Mac backed conventional mortgage because of yours through the loans. Okay,

890
00:50:20,040 --> 00:50:23,200
Speaker 2: and yes, for those on YouTube, will keep acting. Will

891
00:50:23,239 --> 00:50:26,759
Speaker 2: this be saved on the channel? Yes it will. This

892
00:50:26,920 --> 00:50:31,920
Speaker 2: is free game University right now. You're welcome. All right.

893
00:50:32,400 --> 00:50:35,240
Speaker 2: Two of my favorite programs with Fannie Mae and Freddie

894
00:50:35,239 --> 00:50:40,000
Speaker 2: Mac is Fanny Made Home Style and Freddie Mac Home Possible.

895
00:50:40,840 --> 00:50:44,240
Speaker 2: Let's go to the websites. Let's go to home Ready first.

896
00:50:44,280 --> 00:50:47,920
Speaker 2: So all you gotta do is Google Fannie May Home Ready.

897
00:50:48,600 --> 00:50:52,480
Speaker 2: Go to Google, and all you will see the websites

898
00:50:52,480 --> 00:50:54,560
Speaker 2: will come to the top now and bring you to

899
00:50:55,040 --> 00:50:59,400
Speaker 2: this website on purpose, because it's very important that you

900
00:50:59,600 --> 00:51:04,520
Speaker 2: understand in these programs and what these websites look like, right,

901
00:51:05,520 --> 00:51:09,840
Speaker 2: because these websites, these websites are very, very very important

902
00:51:09,840 --> 00:51:13,000
Speaker 2: for you to navigate. You have all the information that

903
00:51:13,120 --> 00:51:17,480
Speaker 2: you will need, all these websites right here alone. So

904
00:51:17,480 --> 00:51:19,480
Speaker 2: I'm gonna get you guys a little bit familiar with

905
00:51:19,520 --> 00:51:24,720
Speaker 2: this now when you're dealing with Freddie mac all Fanny

906
00:51:24,800 --> 00:51:29,919
Speaker 2: Made Home Possible. This is all income based, all right,

907
00:51:30,480 --> 00:51:32,480
Speaker 2: so what I mean by it? And this is the

908
00:51:32,520 --> 00:51:38,439
Speaker 2: home Possible website, right, Just get you guys a little

909
00:51:38,440 --> 00:51:41,080
Speaker 2: bit familiar on how it looks. But let me go

910
00:51:41,160 --> 00:51:43,600
Speaker 2: back here, right, So let me google something. So let

911
00:51:43,600 --> 00:51:53,759
Speaker 2: me go Fanny May uh, Fanny May May income limits right,

912
00:51:55,239 --> 00:52:03,279
Speaker 2: Fanny May Home Possible Home Ready income limits right. So

913
00:52:03,719 --> 00:52:09,680
Speaker 2: this medium income is very important. So if you're looking

914
00:52:09,719 --> 00:52:13,600
Speaker 2: to get qualified for this home I mean, for this program,

915
00:52:14,040 --> 00:52:17,320
Speaker 2: you have to let me just hit this. You can't

916
00:52:17,360 --> 00:52:22,640
Speaker 2: make more than eighty percent of the area medium income,

917
00:52:23,600 --> 00:52:26,640
Speaker 2: all right. So again, how I got to this is

918
00:52:26,760 --> 00:52:29,799
Speaker 2: all the thing I did was google Fannie May Home

919
00:52:29,920 --> 00:52:35,560
Speaker 2: Ready income tool and this map will show up. Now

920
00:52:35,600 --> 00:52:38,160
Speaker 2: I'm a punch in the zip code. I am in

921
00:52:38,320 --> 00:52:40,440
Speaker 2: valid stream right now, so I'm going to type in

922
00:52:40,520 --> 00:52:44,759
Speaker 2: valid stream zip cold and now you're going to see

923
00:52:44,760 --> 00:52:46,480
Speaker 2: it's going to come here and it's going to bring

924
00:52:46,520 --> 00:52:49,239
Speaker 2: the map of valid stream. Now it's telling me the

925
00:52:49,360 --> 00:52:51,880
Speaker 2: area medium income in my area where I'm at right

926
00:52:51,920 --> 00:52:55,440
Speaker 2: now is ninety nine thousand. But in order to qualify

927
00:52:56,239 --> 00:53:01,640
Speaker 2: for this loan, my income cannot exceed seventy nine thousand,

928
00:53:02,000 --> 00:53:06,799
Speaker 2: six hundred. All right, so that's eighty percent of that

929
00:53:06,920 --> 00:53:11,480
Speaker 2: ninety nine thousand. You can do this for anywhere in

930
00:53:11,520 --> 00:53:16,719
Speaker 2: the country to see what's your income. What's what's west

931
00:53:16,800 --> 00:53:18,239
Speaker 2: Chester zip Co? Y'all?

932
00:53:20,800 --> 00:53:23,680
Speaker 4: One zero six zero three, All.

933
00:53:23,640 --> 00:53:27,200
Speaker 2: Right, let's do one zero You said one zero six

934
00:53:27,320 --> 00:53:32,480
Speaker 2: zero three, Yeah, one zero six zero three. Why that's

935
00:53:32,480 --> 00:53:33,040
Speaker 2: not coming up?

936
00:53:33,920 --> 00:53:34,880
Speaker 4: So don't do this like that.

937
00:53:37,680 --> 00:53:41,719
Speaker 2: One O six oh three. Damn that shit ain't coming up.

938
00:53:42,960 --> 00:53:47,000
Speaker 4: One O six oh six oh yeah seven one of.

939
00:53:47,000 --> 00:53:49,960
Speaker 2: Them, damn and ain't liking y'all.

940
00:53:50,480 --> 00:53:52,280
Speaker 4: That's the city that's probably well.

941
00:53:52,880 --> 00:53:55,040
Speaker 2: Nah, this is everywhere, all right. Let me type in

942
00:53:56,160 --> 00:53:59,839
Speaker 2: four two two. Let me just do Jamaica shout out

943
00:53:59,840 --> 00:54:05,840
Speaker 2: the queens, Queens get the money, Jamaican, New York. Okay,

944
00:54:07,520 --> 00:54:09,799
Speaker 2: it works better with an address, y'all. But I'm just

945
00:54:09,800 --> 00:54:12,799
Speaker 2: trying to give you an idea. So Jamaica or they

946
00:54:12,800 --> 00:54:15,640
Speaker 2: pulled up Southside, but it's all good. So we got

947
00:54:15,719 --> 00:54:19,719
Speaker 2: ninety nine five hundred, eighty percent is still seventy nine

948
00:54:19,760 --> 00:54:22,000
Speaker 2: to six hundred, So you guys, see how simple this is.

949
00:54:22,760 --> 00:54:26,120
Speaker 2: This is this is the gross income that the lender

950
00:54:26,160 --> 00:54:28,640
Speaker 2: is using, not your justic gross We're not looking at

951
00:54:28,680 --> 00:54:31,759
Speaker 2: the tax returns. This is your gross income, not your

952
00:54:31,880 --> 00:54:33,800
Speaker 2: net income. The only way is going to go for

953
00:54:33,920 --> 00:54:36,080
Speaker 2: net income is if you're self employed and you're trying

954
00:54:36,080 --> 00:54:37,799
Speaker 2: to get one of these loans. But this is the

955
00:54:37,840 --> 00:54:39,560
Speaker 2: first step that you need to go to see if

956
00:54:39,560 --> 00:54:43,880
Speaker 2: you even qualify for the Home Possible or Home Ready

957
00:54:43,920 --> 00:54:46,000
Speaker 2: program because they both go off the same thing. So

958
00:54:46,040 --> 00:54:48,480
Speaker 2: I want to show you, guys what this looked like

959
00:54:48,600 --> 00:54:52,799
Speaker 2: in real time, so you are familiar with this. And

960
00:54:52,800 --> 00:54:56,160
Speaker 2: this works best if you have an address. So if

961
00:54:56,200 --> 00:54:58,960
Speaker 2: you're looking for properties and you're already preapproved, just punching

962
00:54:59,000 --> 00:55:01,520
Speaker 2: any address in your right.

963
00:55:02,000 --> 00:55:06,360
Speaker 5: Average average income in South Jamaica, Queens is ninety nine thousand.

964
00:55:06,120 --> 00:55:09,480
Speaker 2: Dollars according to the government. The area medium income in

965
00:55:09,520 --> 00:55:12,040
Speaker 2: the area is ninety nine thousand, five hundred correct.

966
00:55:14,600 --> 00:55:19,920
Speaker 3: That's interesting, very.

967
00:55:18,280 --> 00:55:24,359
Speaker 2: And these houses probably a million dollars go figure. So

968
00:55:25,040 --> 00:55:27,560
Speaker 2: that's the website that you got to go to to

969
00:55:27,640 --> 00:55:30,719
Speaker 2: see if you qualify and if you qualify, it's a

970
00:55:30,760 --> 00:55:34,960
Speaker 2: great program, both of them. With Freddie Mack, which I

971
00:55:35,000 --> 00:55:38,879
Speaker 2: loved more than the Home Ready is with Freddie Mack,

972
00:55:39,160 --> 00:55:41,120
Speaker 2: you can put down as little as three to five

973
00:55:41,160 --> 00:55:45,520
Speaker 2: percent with buying a two to four family property, which

974
00:55:45,560 --> 00:55:48,600
Speaker 2: with conventional products, if you don't qualify for these programs,

975
00:55:48,600 --> 00:55:51,399
Speaker 2: you'll have to put down fifteen to twenty percent. So

976
00:55:51,480 --> 00:55:55,640
Speaker 2: I love the Home Possible program for that, and then

977
00:55:55,760 --> 00:55:59,759
Speaker 2: also with the Fani Made Home Ready program, one of

978
00:55:59,800 --> 00:56:02,720
Speaker 2: the things that I love is that they will allow

979
00:56:02,760 --> 00:56:08,279
Speaker 2: you to use border income or or roommate income to

980
00:56:08,400 --> 00:56:11,360
Speaker 2: help you qualify even if you're buying a one family property.

981
00:56:11,840 --> 00:56:14,480
Speaker 2: So if you're buying a one family let's just say

982
00:56:14,520 --> 00:56:16,480
Speaker 2: you was in college you had a roommate, you can

983
00:56:16,560 --> 00:56:19,799
Speaker 2: document that you had a roommate and the roommate is

984
00:56:19,880 --> 00:56:25,560
Speaker 2: going to move in with you right then you can

985
00:56:25,600 --> 00:56:28,120
Speaker 2: have a quote unquote lease sign between you and that

986
00:56:28,200 --> 00:56:30,080
Speaker 2: roommate and if they.

987
00:56:29,960 --> 00:56:33,239
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1035
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Speaker 2: You need making paying let's say five hundred dollars a month.

1036
00:59:22,960 --> 00:59:25,000
Speaker 2: We can use seventy five percent of that five hundred

1037
00:59:25,000 --> 00:59:27,560
Speaker 2: to help you qualify. Now, a lot of you got roommates,

1038
00:59:27,600 --> 00:59:32,200
Speaker 2: and you don't know, right if you are unmarried and

1039
00:59:32,280 --> 00:59:34,680
Speaker 2: you have a boyfriend or a girlfriend and y'all live together,

1040
00:59:35,360 --> 00:59:41,600
Speaker 2: y'all have roommates. Read between the lines, back to the presentation.

1041
00:59:46,040 --> 00:59:48,840
Speaker 2: So that's the family made Freddie macmestyle. I hope you'll

1042
00:59:48,880 --> 00:59:53,360
Speaker 2: caught that little jim moving right along. Closing course. Let's

1043
00:59:53,360 --> 01:00:00,440
Speaker 2: talk about some closing course. All right, you know what.

1044
01:00:00,640 --> 01:00:02,680
Speaker 2: This is what I'm gonna do. Let's go back to

1045
01:00:02,880 --> 01:00:07,280
Speaker 2: Let's go back to this. Let me show y'all what

1046
01:00:07,400 --> 01:00:13,320
Speaker 2: a loan estimate looks like. Okay, this is what. Yeah,

1047
01:00:13,360 --> 01:00:17,840
Speaker 2: some of y'all YouTube got it. Roommates exactly, all right,

1048
01:00:17,880 --> 01:00:20,240
Speaker 2: So this is what This is a sample loan estimate.

1049
01:00:21,560 --> 01:00:24,560
Speaker 2: This is what you're gonna get from Alenda. Some will

1050
01:00:24,600 --> 01:00:27,200
Speaker 2: get you this before you even sign a contract on

1051
01:00:27,240 --> 01:00:29,680
Speaker 2: the house. I know, me and my team we issue

1052
01:00:29,680 --> 01:00:35,400
Speaker 2: loan estimates only when you have a contract. If you want,

1053
01:00:35,920 --> 01:00:38,440
Speaker 2: of course breakdown, we'll give you what's called the closing

1054
01:00:38,480 --> 01:00:41,160
Speaker 2: course worksheet, which is not a loan estimate, but it

1055
01:00:41,200 --> 01:00:44,080
Speaker 2: gives you an idea of what the fees are. So

1056
01:00:44,680 --> 01:00:46,480
Speaker 2: I want to show this to you so you guys

1057
01:00:46,520 --> 01:00:50,200
Speaker 2: can get familiar of what you're looking at. Right, So

1058
01:00:50,440 --> 01:00:52,200
Speaker 2: on the top left hand side, you're going to have

1059
01:00:52,240 --> 01:00:54,560
Speaker 2: whoever the bank is, the bank's address is going to

1060
01:00:54,560 --> 01:00:56,800
Speaker 2: show you the date that the loan estimate was issued.

1061
01:00:57,120 --> 01:01:00,680
Speaker 2: The applicants is you with the property address is the

1062
01:01:00,880 --> 01:01:04,520
Speaker 2: estimated property value. It'll tell you what your loan terms are,

1063
01:01:05,280 --> 01:01:08,000
Speaker 2: the purpose of it, what type of product you have.

1064
01:01:08,080 --> 01:01:10,880
Speaker 2: So if it's a thirty yet fixed mortgage, it'll tell

1065
01:01:10,880 --> 01:01:13,080
Speaker 2: you that it was a thirty year fixed mortgage. If

1066
01:01:13,080 --> 01:01:16,800
Speaker 2: it's a FHA conventional VA, one of these boxes right

1067
01:01:16,800 --> 01:01:19,920
Speaker 2: here will be checked. It'll tell you your loan number, your

1068
01:01:19,960 --> 01:01:24,360
Speaker 2: loan ID, and most importantly is the rate locked or not? Okay?

1069
01:01:24,560 --> 01:01:26,320
Speaker 2: And if it is locked, as you can see here

1070
01:01:26,360 --> 01:01:29,720
Speaker 2: on this example, it tells you until what time that

1071
01:01:29,880 --> 01:01:33,960
Speaker 2: it is locked? Okay? Scrolling down, you have your loan terms,

1072
01:01:34,160 --> 01:01:37,200
Speaker 2: your loan themount, your interest rate, your monthly principal and

1073
01:01:37,280 --> 01:01:40,040
Speaker 2: interest payment. The principal interest is what you're paying back

1074
01:01:40,080 --> 01:01:42,120
Speaker 2: to the bank. It'll tell you if you have a

1075
01:01:42,160 --> 01:01:44,480
Speaker 2: pre payment penalty you or not, if it's a balloon

1076
01:01:44,560 --> 01:01:46,360
Speaker 2: payment or not. You're not going to see this in

1077
01:01:46,400 --> 01:01:48,919
Speaker 2: regular traditional loans, so don't worry about that right now.

1078
01:01:49,680 --> 01:01:52,840
Speaker 2: If you have mortgage insurance, you'll see it right here

1079
01:01:54,320 --> 01:01:57,400
Speaker 2: on your payment projected payments. It'll tell you if it's

1080
01:01:57,960 --> 01:02:00,960
Speaker 2: mortgage insurance, and if it was, there'll be a number

1081
01:02:01,040 --> 01:02:03,240
Speaker 2: listed right here with says zero, and then in this

1082
01:02:03,360 --> 01:02:05,680
Speaker 2: column right here, it will tell you what year is

1083
01:02:05,720 --> 01:02:08,840
Speaker 2: projected to fall off. Very important if you're taking out

1084
01:02:08,880 --> 01:02:14,040
Speaker 2: loans with mortgage insurance that you are paying attention to

1085
01:02:14,200 --> 01:02:20,200
Speaker 2: this right Your escrow is to manage your property taxes

1086
01:02:20,280 --> 01:02:23,760
Speaker 2: and the homeowner's insurance ESCRO. Let me say this, and

1087
01:02:23,760 --> 01:02:25,919
Speaker 2: I'm gonna say this loud and clear for everybody who

1088
01:02:26,000 --> 01:02:29,480
Speaker 2: is listening. ESCRO is subject to change on an annual basis.

1089
01:02:29,880 --> 01:02:33,080
Speaker 2: So whatever mortgage payment that you gotta start off with today,

1090
01:02:33,960 --> 01:02:36,080
Speaker 2: that will not be your mortgage payment in a year

1091
01:02:36,600 --> 01:02:40,919
Speaker 2: because taxes will go up, homeowner's insurance will go up,

1092
01:02:41,240 --> 01:02:44,160
Speaker 2: and that means your mortgage payment is going to go up.

1093
01:02:44,200 --> 01:02:47,400
Speaker 2: So although you have a thirty year fixed mortgage, the

1094
01:02:47,440 --> 01:02:50,920
Speaker 2: only thing that is fixed is that principal and interest payment.

1095
01:02:51,240 --> 01:02:54,920
Speaker 2: Your escro is subject to change. Now here's a tip.

1096
01:02:55,520 --> 01:02:58,560
Speaker 2: Every single year, you're gonna get what's called the escrow analysis.

1097
01:02:58,760 --> 01:03:01,120
Speaker 2: The bank is going to send it to you. Please

1098
01:03:01,480 --> 01:03:04,880
Speaker 2: read it. Learn to understand that, because that is telling

1099
01:03:04,880 --> 01:03:09,240
Speaker 2: you exactly what's happening in that escrow account. Depending on

1100
01:03:09,280 --> 01:03:11,840
Speaker 2: when your taxes are doing where you live, some taxes,

1101
01:03:11,840 --> 01:03:15,560
Speaker 2: some property taxes are due quarterly, some are done semi annually,

1102
01:03:15,680 --> 01:03:19,160
Speaker 2: some are done angrily. The town is going to send

1103
01:03:19,200 --> 01:03:23,440
Speaker 2: you a tax bill. Although the bank is responsible for

1104
01:03:23,480 --> 01:03:25,400
Speaker 2: paying it, the town still has to send you with

1105
01:03:25,440 --> 01:03:28,080
Speaker 2: the bill is for the upcoming year. When you see

1106
01:03:28,160 --> 01:03:31,200
Speaker 2: your bill, if you do not agree with it, you

1107
01:03:31,320 --> 01:03:34,440
Speaker 2: can't call the town and start a process called grieving

1108
01:03:34,520 --> 01:03:38,720
Speaker 2: your taxes a grievance okay, which can potentially lower your

1109
01:03:38,760 --> 01:03:42,200
Speaker 2: property taxes down. But that is a process and it's

1110
01:03:42,240 --> 01:03:45,520
Speaker 2: not guaranteed to lower your property taxes. But I just

1111
01:03:45,520 --> 01:03:48,120
Speaker 2: want to make you guys aware of what is out

1112
01:03:48,160 --> 01:03:50,160
Speaker 2: there for you. And I want you guys to be

1113
01:03:50,200 --> 01:03:54,240
Speaker 2: aware that your mortgage payment will increase. So when you

1114
01:03:54,280 --> 01:03:56,160
Speaker 2: hear me screaming to the top of my lungs like

1115
01:03:56,160 --> 01:03:58,120
Speaker 2: I've been for the past four years on the internet,

1116
01:03:58,480 --> 01:04:01,440
Speaker 2: don't be house rich and cash poor. This is one

1117
01:04:01,440 --> 01:04:04,800
Speaker 2: of the prime examples, because you be thinking, you're paying

1118
01:04:04,800 --> 01:04:06,520
Speaker 2: me three hundred and eighty dollars, gonna be for the

1119
01:04:06,560 --> 01:04:08,800
Speaker 2: life of your loan, and you'll get a root awaken.

1120
01:04:08,840 --> 01:04:11,000
Speaker 2: In one month, You're gonna open up your your damn

1121
01:04:11,280 --> 01:04:13,800
Speaker 2: mortgage statement and your payment's gonna be five hundred dollars

1122
01:04:14,080 --> 01:04:16,160
Speaker 2: and you're gonna be like, what the hell happened? So

1123
01:04:16,320 --> 01:04:20,200
Speaker 2: I want you guys to be aware of this. Be

1124
01:04:20,400 --> 01:04:24,600
Speaker 2: aware of this, all right? Scroll down. Estimated taxes and

1125
01:04:24,640 --> 01:04:31,440
Speaker 2: insurance a month. Again, this is subject to change. Estimated

1126
01:04:31,480 --> 01:04:35,760
Speaker 2: closing course plus estimated cash to close. This is basically

1127
01:04:35,840 --> 01:04:38,200
Speaker 2: and you see it says from the borrower. That means

1128
01:04:38,240 --> 01:04:41,000
Speaker 2: what you have to bring the closing. Now, when you

1129
01:04:41,080 --> 01:04:43,240
Speaker 2: guys are shopping for a mortgage, I want you guys

1130
01:04:43,240 --> 01:04:49,200
Speaker 2: to be very clear on something else. The lender only

1131
01:04:49,280 --> 01:04:56,440
Speaker 2: controls two things, the interest rate and block A on

1132
01:04:56,520 --> 01:05:00,320
Speaker 2: its top left hand side, the origination charges. We do

1133
01:05:00,360 --> 01:05:04,440
Speaker 2: not control title fees. We do not control recording fees.

1134
01:05:04,680 --> 01:05:08,520
Speaker 2: We do not control how much escrow needs to be

1135
01:05:08,560 --> 01:05:12,040
Speaker 2: set up in that prepaid account or that initial escrow account.

1136
01:05:12,240 --> 01:05:15,960
Speaker 2: We do not control any of these fees. We only

1137
01:05:16,040 --> 01:05:20,560
Speaker 2: control the interest rate and the origination fees. So when

1138
01:05:20,560 --> 01:05:24,960
Speaker 2: you guys are shopping for a loan, you have to understand.

1139
01:05:27,120 --> 01:05:30,000
Speaker 2: Banks will sit here and present you offers in the

1140
01:05:30,040 --> 01:05:33,200
Speaker 2: beginning of your process and low ball you on purpose.

1141
01:05:34,080 --> 01:05:37,280
Speaker 2: They will missfees on these loan estimates because it's not

1142
01:05:37,400 --> 01:05:43,320
Speaker 2: legally binding, right, It's just an estimate. They will tell you,

1143
01:05:44,280 --> 01:05:46,959
Speaker 2: and when they try, when you're trying to compare, you're

1144
01:05:47,000 --> 01:05:50,040
Speaker 2: looking at, well, this lender's rate is this and their

1145
01:05:50,080 --> 01:05:53,400
Speaker 2: fees a twenty thousand. But this lenders rate is the same,

1146
01:05:53,480 --> 01:05:56,640
Speaker 2: but their fees a fifteen thousand. I'm going with this lender.

1147
01:05:57,400 --> 01:05:59,680
Speaker 2: But you don't realize that you're getting set up for

1148
01:05:59,720 --> 01:06:03,760
Speaker 2: the bag and switch because a lot of lenders out

1149
01:06:03,840 --> 01:06:08,240
Speaker 2: there will put lower fees on purpose. I'm trying to

1150
01:06:08,240 --> 01:06:10,200
Speaker 2: tell you this shit happens every single day. I don't

1151
01:06:10,200 --> 01:06:12,360
Speaker 2: care when no one tells me because I see it personally.

1152
01:06:12,360 --> 01:06:14,280
Speaker 2: When you guys are reaching out to me, asks me

1153
01:06:14,320 --> 01:06:16,200
Speaker 2: to you, your loan estimates. And I'm telling you there's

1154
01:06:16,200 --> 01:06:19,240
Speaker 2: a lot of fees missing here, all right, So please

1155
01:06:19,760 --> 01:06:24,240
Speaker 2: understand that the lender only controls this. So my advice

1156
01:06:24,320 --> 01:06:27,320
Speaker 2: to you if you're shopping or comparing lenders, compare them

1157
01:06:27,360 --> 01:06:31,640
Speaker 2: with the interest rate and block a fees. That is

1158
01:06:31,680 --> 01:06:35,680
Speaker 2: going to give your true determination if with lender is

1159
01:06:35,720 --> 01:06:38,400
Speaker 2: more expensive than the others, because that's the fees that

1160
01:06:38,440 --> 01:06:41,920
Speaker 2: they're making their money off of, not everything else. Now,

1161
01:06:41,960 --> 01:06:43,720
Speaker 2: if you want to know what your title fees and

1162
01:06:43,720 --> 01:06:46,200
Speaker 2: your recording fees are, this is when you got to

1163
01:06:46,240 --> 01:06:49,360
Speaker 2: go to your title company. If your realtor or your

1164
01:06:49,360 --> 01:06:52,640
Speaker 2: attorney is using a particular title company, you need to

1165
01:06:52,680 --> 01:06:55,800
Speaker 2: ask them for what's called a title bill. And in

1166
01:06:55,880 --> 01:06:59,240
Speaker 2: that title bill, you'll know what all the title fees are.

1167
01:06:59,480 --> 01:07:02,880
Speaker 2: You'll know what the recording fees are. You'll know what

1168
01:07:03,080 --> 01:07:06,680
Speaker 2: the estimated escrow account will be needed to set up

1169
01:07:06,880 --> 01:07:09,800
Speaker 2: based off of the closing date on the contract. You'll

1170
01:07:09,840 --> 01:07:13,160
Speaker 2: know all that information because us as the lender. When

1171
01:07:13,200 --> 01:07:15,320
Speaker 2: we get to the end of the process. You see

1172
01:07:15,320 --> 01:07:18,320
Speaker 2: how this says loan estimate, right, This is in the

1173
01:07:18,360 --> 01:07:20,800
Speaker 2: beginning of the process. When you get to the end

1174
01:07:20,800 --> 01:07:23,280
Speaker 2: of the process, you're going to get what's called a CD,

1175
01:07:23,560 --> 01:07:29,080
Speaker 2: a closing disclosure, and the lender to update that closing disclosure,

1176
01:07:29,320 --> 01:07:31,880
Speaker 2: they have to get all the final bills from the

1177
01:07:31,920 --> 01:07:35,360
Speaker 2: title company and all other parties involved. That way they

1178
01:07:35,440 --> 01:07:38,800
Speaker 2: can update that closing disclosure to make it as accurate

1179
01:07:38,920 --> 01:07:44,920
Speaker 2: as possible. So please understand the difference in this. Don't

1180
01:07:45,000 --> 01:07:48,480
Speaker 2: just be willy nilly an emotional home buyer and say, oh,

1181
01:07:48,640 --> 01:07:50,240
Speaker 2: this one's cheaper than this one, and this is that

1182
01:07:50,360 --> 01:07:53,040
Speaker 2: third and you're not even understanding by time you get

1183
01:07:53,040 --> 01:07:54,479
Speaker 2: to the end. It's going to be with that person

1184
01:07:54,520 --> 01:07:56,440
Speaker 2: who was hired probably even quoted you because they were

1185
01:07:56,480 --> 01:07:59,600
Speaker 2: probably doing the right thing. So it just understand the difference.

1186
01:07:59,640 --> 01:08:02,400
Speaker 2: And this is kind of why instead of me showing

1187
01:08:02,440 --> 01:08:05,480
Speaker 2: you a PowerPoint presentation, I kind of wanted to give

1188
01:08:05,480 --> 01:08:08,440
Speaker 2: you an example, a real life example of what this

1189
01:08:08,520 --> 01:08:10,200
Speaker 2: looked like, because a lot of you have never seen

1190
01:08:10,240 --> 01:08:12,880
Speaker 2: a loan estimate before. I see people in the YouTube

1191
01:08:12,960 --> 01:08:15,560
Speaker 2: comments talking about they never even heard a BLOCKA. This

1192
01:08:15,680 --> 01:08:18,800
Speaker 2: is exactly why I want to show my screen and

1193
01:08:18,920 --> 01:08:21,000
Speaker 2: show this to you guys, so you have a better

1194
01:08:21,200 --> 01:08:26,040
Speaker 2: understanding of what these things look like. All right, we

1195
01:08:26,120 --> 01:08:26,400
Speaker 2: got it.

1196
01:08:26,479 --> 01:08:26,799
Speaker 3: Y'all.

1197
01:08:27,479 --> 01:08:33,760
Speaker 2: Okay, good, who all right, back to the slides and

1198
01:08:33,800 --> 01:08:40,519
Speaker 2: we're almost done. So that's the closing cost section underwriting process. Now,

1199
01:08:40,760 --> 01:08:43,720
Speaker 2: after you go through your pre approval, your shopping for

1200
01:08:43,760 --> 01:08:47,920
Speaker 2: your home, you're ready to go. You're going to now

1201
01:08:48,680 --> 01:08:51,920
Speaker 2: update your loan officer he or she and let them

1202
01:08:51,960 --> 01:08:56,920
Speaker 2: know that you have a contract. And then that's when

1203
01:08:56,920 --> 01:09:00,200
Speaker 2: you're going to get your initial disclosures. And as a

1204
01:09:00,240 --> 01:09:03,559
Speaker 2: part of that initial disclosure package will be that loan

1205
01:09:03,800 --> 01:09:06,960
Speaker 2: estimate that I just showed you. Again, look at the

1206
01:09:07,000 --> 01:09:10,120
Speaker 2: loan estimate at this point, if you're still shopping for London,

1207
01:09:10,120 --> 01:09:12,120
Speaker 2: and I'm gonna tell you this right now, at this point,

1208
01:09:12,160 --> 01:09:14,360
Speaker 2: if you're still shopping for London when you get the contract,

1209
01:09:14,400 --> 01:09:16,160
Speaker 2: you kind of behind the eight ball because I think

1210
01:09:16,160 --> 01:09:17,559
Speaker 2: you should have did you shopping while he was in

1211
01:09:17,560 --> 01:09:21,599
Speaker 2: the pre approval process. But if you're still shopping again,

1212
01:09:21,880 --> 01:09:25,040
Speaker 2: remember block A and interest rate. That's what you need

1213
01:09:25,040 --> 01:09:31,800
Speaker 2: to pay attention to. Okay, now, let's keep your interest

1214
01:09:31,840 --> 01:09:38,559
Speaker 2: rates real quick. Locking in very important in these times.

1215
01:09:39,400 --> 01:09:43,679
Speaker 2: As you all have seen over the past six months,

1216
01:09:43,760 --> 01:09:48,240
Speaker 2: I should say that the market has been going absolutely

1217
01:09:48,840 --> 01:09:53,720
Speaker 2: bonkers with interest rates. This is not the time to

1218
01:09:53,920 --> 01:09:56,880
Speaker 2: float interest rates. So there's two things you can do

1219
01:09:57,720 --> 01:10:01,040
Speaker 2: when you get your contract. You can either lock it

1220
01:10:01,120 --> 01:10:04,160
Speaker 2: in and when we lock in, we lock in for

1221
01:10:04,200 --> 01:10:06,679
Speaker 2: a certain period of time, y'all. We lock in either

1222
01:10:06,760 --> 01:10:10,160
Speaker 2: for thirty days, forty five days, sixty days, ninety days

1223
01:10:11,080 --> 01:10:14,920
Speaker 2: up to six months, right. Or you can float, which

1224
01:10:14,960 --> 01:10:19,280
Speaker 2: means floating means you're playing the market. I do not

1225
01:10:19,479 --> 01:10:25,519
Speaker 2: recommend floating in today's market because it moves so rapidly.

1226
01:10:26,479 --> 01:10:29,720
Speaker 2: If you want to try to protect yourself, let's just

1227
01:10:29,720 --> 01:10:33,439
Speaker 2: say you lock in and you want to head your

1228
01:10:33,479 --> 01:10:37,479
Speaker 2: bet so to speak. If the market does drop, act

1229
01:10:37,520 --> 01:10:42,960
Speaker 2: your lender if they have a float down policy, type

1230
01:10:43,000 --> 01:10:48,920
Speaker 2: in chat float down okay, float down policy very important.

1231
01:10:49,120 --> 01:10:50,919
Speaker 2: So let me give you an example.

1232
01:10:51,800 --> 01:10:52,599
Speaker 10: You are.

1233
01:10:54,000 --> 01:10:58,120
Speaker 2: Locking in today at five and a half percent. Okay,

1234
01:10:58,920 --> 01:11:00,960
Speaker 2: you're locking in at five five and a half percent.

1235
01:11:01,600 --> 01:11:05,240
Speaker 2: But your loan officer, after you consulting with them and

1236
01:11:05,240 --> 01:11:06,840
Speaker 2: you say, you know what, we think the rates might

1237
01:11:06,920 --> 01:11:09,320
Speaker 2: drop a half a point in your favor. It may

1238
01:11:09,400 --> 01:11:11,799
Speaker 2: drop the four point eighty seventy five to five percent

1239
01:11:11,880 --> 01:11:15,000
Speaker 2: in like two weeks. While we're doing the process based

1240
01:11:15,040 --> 01:11:17,000
Speaker 2: off of what's happening in the market.

1241
01:11:17,560 --> 01:11:17,800
Speaker 4: So.

1242
01:11:19,240 --> 01:11:21,880
Speaker 2: We can lock you in with the float down option.

1243
01:11:22,160 --> 01:11:24,320
Speaker 2: It may now a lender's gonna charge you for this.

1244
01:11:25,840 --> 01:11:29,240
Speaker 2: So what this means is if the rate does drop

1245
01:11:29,560 --> 01:11:33,120
Speaker 2: that at least a quarter to three eighths of a

1246
01:11:33,160 --> 01:11:36,680
Speaker 2: point lower, then the loan officer can float down the

1247
01:11:36,800 --> 01:11:42,360
Speaker 2: rate and take advantage of the market decreasing and break

1248
01:11:42,400 --> 01:11:44,760
Speaker 2: you from that five and a half to that five

1249
01:11:44,800 --> 01:11:47,120
Speaker 2: and a quarter to that five point one to the

1250
01:11:47,160 --> 01:11:51,720
Speaker 2: five percent. But they may charge you a point for that. Now,

1251
01:11:51,720 --> 01:11:53,519
Speaker 2: for those of you who don't know what a point is,

1252
01:11:54,040 --> 01:11:58,280
Speaker 2: a point is one percent of the loan amount and

1253
01:11:58,360 --> 01:12:02,400
Speaker 2: it's used to buy down interest rate. So one hundred

1254
01:12:02,439 --> 01:12:08,040
Speaker 2: thousand dollars loan amount times one point equals one thousand dollars.

1255
01:12:08,760 --> 01:12:11,599
Speaker 2: All right, So I want you guys to understand when

1256
01:12:11,600 --> 01:12:14,840
Speaker 2: you are trying to lock in, if your lender has

1257
01:12:14,880 --> 01:12:18,640
Speaker 2: that option, take advantage of it. It may cost you

1258
01:12:18,680 --> 01:12:21,959
Speaker 2: some money. Now, what happens if the rates don't decrease,

1259
01:12:22,640 --> 01:12:25,120
Speaker 2: then you just paid a point for no reason. So

1260
01:12:25,360 --> 01:12:27,960
Speaker 2: you also got to understand the market and work with

1261
01:12:28,040 --> 01:12:32,160
Speaker 2: the loan officer who understands the market and is watching

1262
01:12:32,680 --> 01:12:35,599
Speaker 2: the trends that's happening. In the market to determine if

1263
01:12:35,640 --> 01:12:40,000
Speaker 2: it's even worth you paying that extra point to do

1264
01:12:40,720 --> 01:12:45,080
Speaker 2: the float down option. All right, but speak to your

1265
01:12:45,200 --> 01:12:49,320
Speaker 2: loan officer for more details about this.

1266
01:12:51,240 --> 01:12:51,400
Speaker 4: Who.

1267
01:12:51,960 --> 01:12:55,440
Speaker 2: So, now you're locking your rate. You go to underwriting,

1268
01:12:56,600 --> 01:12:59,000
Speaker 2: you get your loan reapproved by underwriting. They're going to

1269
01:12:59,080 --> 01:13:04,120
Speaker 2: have us called condition you meet those conditions. It could

1270
01:13:04,120 --> 01:13:07,040
Speaker 2: be updated pay stuffs, updated bank statements. It could be

1271
01:13:07,120 --> 01:13:10,439
Speaker 2: letters of explanations, it could be whatever the hell the

1272
01:13:10,560 --> 01:13:16,120
Speaker 2: underwriter wants to see to satisfy the commitment letter. Once

1273
01:13:16,160 --> 01:13:18,839
Speaker 2: you meet those plus, you get your clean tider report,

1274
01:13:19,160 --> 01:13:22,400
Speaker 2: you get an appraiser report, It gets submitted back to underwriting,

1275
01:13:23,560 --> 01:13:27,040
Speaker 2: and then boom. From there, they submit the loan for

1276
01:13:27,120 --> 01:13:30,559
Speaker 2: clearance to close, and in the perfect world, the underwriter

1277
01:13:30,600 --> 01:13:34,439
Speaker 2: will clear everything and then congratulations, you can now schedule

1278
01:13:34,479 --> 01:13:37,559
Speaker 2: your closing. But the mortgage process is not perfect. I'm

1279
01:13:37,600 --> 01:13:39,720
Speaker 2: here to tell you you will go through pain, you

1280
01:13:39,760 --> 01:13:43,800
Speaker 2: will go through agony, you will go through frustration, you

1281
01:13:43,840 --> 01:13:48,640
Speaker 2: will go through some BS. Okay, so have your expectations

1282
01:13:48,640 --> 01:13:51,080
Speaker 2: set properly that you are gonna go through some pain

1283
01:13:51,160 --> 01:13:53,240
Speaker 2: in some BS. Even if you went through a pre

1284
01:13:53,400 --> 01:13:56,760
Speaker 2: underwriting process, you will still go through the pain and

1285
01:13:56,800 --> 01:14:00,080
Speaker 2: the bs. This is just this is just the business

1286
01:14:00,120 --> 01:14:02,960
Speaker 2: that we are in and it's not perfect. But you

1287
01:14:03,120 --> 01:14:06,760
Speaker 2: have to have your expectations set right. So once you

1288
01:14:07,520 --> 01:14:10,599
Speaker 2: wants to underwriter, and oh, be prepared to be asked

1289
01:14:10,600 --> 01:14:14,919
Speaker 2: for documents, the same documents a couple times. This happens

1290
01:14:15,520 --> 01:14:20,759
Speaker 2: with certain lenders. Not gonna name no names, but this happens. Okay,

1291
01:14:21,000 --> 01:14:23,880
Speaker 2: I need you to understand this is part of the

1292
01:14:23,960 --> 01:14:26,479
Speaker 2: process and it will frustrate the hell out of you,

1293
01:14:26,760 --> 01:14:29,720
Speaker 2: rightfully so, but just give them whatever the hell they

1294
01:14:29,760 --> 01:14:34,200
Speaker 2: want and let's move on, all right. And once you

1295
01:14:34,240 --> 01:14:37,920
Speaker 2: go through the underwriting process you meet all your conditions. Congratulations,

1296
01:14:37,920 --> 01:14:41,000
Speaker 2: you are now clear to close and you can go

1297
01:14:41,439 --> 01:14:45,599
Speaker 2: close wing your house. That is my time for today,

1298
01:14:45,680 --> 01:14:47,599
Speaker 2: ladies and gentlemen. That's all I got.

1299
01:14:49,880 --> 01:14:54,080
Speaker 3: There. You have it better than college university.

1300
01:14:54,360 --> 01:14:56,599
Speaker 6: Give them what they want, man, just be patient, tell

1301
01:14:56,640 --> 01:14:59,200
Speaker 6: them many.

1302
01:14:58,840 --> 01:15:00,280
Speaker 2: Give them what they want. That's right.

1303
01:15:02,720 --> 01:15:06,400
Speaker 3: Oh my goodness, that's like put some fire in the chat.

1304
01:15:06,880 --> 01:15:10,320
Speaker 5: If you enjoyed that high level conversation. As my brother

1305
01:15:10,439 --> 01:15:13,960
Speaker 5: nineteen keys would say, you know, that's what it's about.

1306
01:15:14,000 --> 01:15:14,320
Speaker 10: Man.

1307
01:15:15,280 --> 01:15:19,320
Speaker 5: Not getting that kind of education anywhere, Definitely not at school.

1308
01:15:19,360 --> 01:15:21,240
Speaker 5: And that's one of the things I always talked about, like,

1309
01:15:21,320 --> 01:15:25,600
Speaker 5: buying a home is probably the biggest purpose that anybody's

1310
01:15:25,640 --> 01:15:29,120
Speaker 5: going to make, and for most people, that's their biggest investment.

1311
01:15:29,200 --> 01:15:31,680
Speaker 5: A lot of people, unfortunately, that's their only investment. And

1312
01:15:31,800 --> 01:15:34,439
Speaker 5: if you think about it, for the biggest purchase, the

1313
01:15:34,439 --> 01:15:39,160
Speaker 5: most important purchase, and something that most of your net

1314
01:15:39,240 --> 01:15:42,000
Speaker 5: worth is in. For the average American, you have no

1315
01:15:42,400 --> 01:15:44,840
Speaker 5: education on it, Like they never teach you anything. It's

1316
01:15:44,880 --> 01:15:47,559
Speaker 5: like you just go out there and just hope that

1317
01:15:47,680 --> 01:15:50,120
Speaker 5: you're not getting taken advantage of. But you just go

1318
01:15:50,200 --> 01:15:52,360
Speaker 5: to a bank and you say, Okay, I'm trying to

1319
01:15:52,360 --> 01:15:55,640
Speaker 5: buy a home, and you just follow whatever they tell you.

1320
01:15:55,640 --> 01:15:57,320
Speaker 5: You don't know if it's the best thing for you

1321
01:15:57,439 --> 01:15:58,880
Speaker 5: or not. You don't know about the program. If you

1322
01:15:58,880 --> 01:16:02,320
Speaker 5: don't know the process, you make mistakes. You don't have

1323
01:16:02,360 --> 01:16:05,360
Speaker 5: to get the documents in order, you don't get the mortgage,

1324
01:16:06,680 --> 01:16:10,120
Speaker 5: lose a home. It's a learning process and you learn

1325
01:16:10,200 --> 01:16:12,639
Speaker 5: as you go, but you can make a lot of mistakes.

1326
01:16:12,640 --> 01:16:15,400
Speaker 5: So I always thought like, why would they not have

1327
01:16:15,520 --> 01:16:18,559
Speaker 5: this as part of a core curriculum because it's something

1328
01:16:18,960 --> 01:16:22,000
Speaker 5: that is very common. A lot of people buy homes

1329
01:16:22,720 --> 01:16:26,040
Speaker 5: and to not have any idea of how to do it,

1330
01:16:26,040 --> 01:16:29,559
Speaker 5: it just doesn't make any sense. So there's something that

1331
01:16:29,600 --> 01:16:31,920
Speaker 5: we never even questioned because we just were so used

1332
01:16:31,960 --> 01:16:34,479
Speaker 5: to just not even having it that it's just like,

1333
01:16:34,520 --> 01:16:36,280
Speaker 5: all right, you know, just just go with the flow.

1334
01:16:36,360 --> 01:16:42,680
Speaker 5: But now we have institutions like Eyo University, and we

1335
01:16:42,760 --> 01:16:46,680
Speaker 5: have professionals like Matt who are very gracious with their

1336
01:16:46,720 --> 01:16:50,680
Speaker 5: time and they're educating the masses. So not take it

1337
01:16:50,680 --> 01:16:53,559
Speaker 5: for granted, because it's not something that has ever really

1338
01:16:53,560 --> 01:16:56,840
Speaker 5: happened before in a language that most people, especially in

1339
01:16:56,880 --> 01:16:59,320
Speaker 5: our world, understood, So just wanted.

1340
01:16:59,080 --> 01:17:04,560
Speaker 3: To give kudos to Matt. Definitely, you know, a legend.

1341
01:17:04,320 --> 01:17:07,640
Speaker 5: In the game when it comes to real estate, financing,

1342
01:17:09,000 --> 01:17:09,719
Speaker 5: home lending.

1343
01:17:10,920 --> 01:17:13,879
Speaker 3: Very very important, very very important.

1344
01:17:15,120 --> 01:17:17,080
Speaker 6: Yeah, I mean, I mean, he's the guy we call

1345
01:17:17,200 --> 01:17:19,960
Speaker 6: him for sure and with any question, right, And that's

1346
01:17:20,000 --> 01:17:22,479
Speaker 6: the thing too, being humble enough to know that you

1347
01:17:22,479 --> 01:17:26,000
Speaker 6: don't know everything, but having a resource that's almost like

1348
01:17:26,040 --> 01:17:30,320
Speaker 6: an encyclopedia at your disposal it makes everything a lot better.

1349
01:17:31,080 --> 01:17:34,200
Speaker 6: So I'm personally going through the process, and so every

1350
01:17:34,200 --> 01:17:36,080
Speaker 6: time I get a letter, the first guy I call

1351
01:17:36,080 --> 01:17:36,599
Speaker 6: it is Matt.

1352
01:17:36,520 --> 01:17:42,000
Speaker 4: To make sure everything's right. But everybody doesn't have that,

1353
01:17:42,520 --> 01:17:43,920
Speaker 4: and so having this type.

1354
01:17:43,720 --> 01:17:46,280
Speaker 6: Of information presented in front of you, you can alleviate

1355
01:17:46,320 --> 01:17:48,360
Speaker 6: that fear. A lot of times people get in that

1356
01:17:48,439 --> 01:17:51,000
Speaker 6: fear process where they don't want to take action because

1357
01:17:51,000 --> 01:17:53,240
Speaker 6: they don't want to make the mistake. But what's been

1358
01:17:53,280 --> 01:17:57,160
Speaker 6: laid out for you right here is a detailed version

1359
01:17:57,200 --> 01:17:58,599
Speaker 6: of what you need to do in order.

1360
01:17:58,520 --> 01:17:59,559
Speaker 4: To get that first property.

1361
01:17:59,600 --> 01:18:02,559
Speaker 6: So that I appreciate you for, you know, decreasing that

1362
01:18:02,640 --> 01:18:04,400
Speaker 6: level of fear for people to make that first step.

1363
01:18:05,000 --> 01:18:07,360
Speaker 2: Yeah, yeah, no doubt, man, That's what we here for.

1364
01:18:07,479 --> 01:18:07,639
Speaker 6: Man.

1365
01:18:07,720 --> 01:18:09,880
Speaker 2: Each one teach one And like Shaddy said, no one

1366
01:18:09,920 --> 01:18:12,720
Speaker 2: taught us this in school. The school curriculum is not

1367
01:18:12,880 --> 01:18:15,240
Speaker 2: made for us to know this type of stuff. How

1368
01:18:15,360 --> 01:18:17,080
Speaker 2: our parents didn't even teach us how to do this

1369
01:18:17,160 --> 01:18:19,439
Speaker 2: because for the most part they didn't really know. Most

1370
01:18:19,439 --> 01:18:21,559
Speaker 2: of our parents who purchased homes, they trip and fell

1371
01:18:21,600 --> 01:18:24,240
Speaker 2: into home ownership. It wasn't like you know what I'm saying,

1372
01:18:24,240 --> 01:18:28,920
Speaker 2: that was taught. So for me to be able to

1373
01:18:28,960 --> 01:18:31,880
Speaker 2: be blessed with the knowledge to be able to pass

1374
01:18:31,920 --> 01:18:35,880
Speaker 2: it on to my community at scale, because of platforms

1375
01:18:35,920 --> 01:18:39,240
Speaker 2: like EYL University. It's life changing for me and I

1376
01:18:39,240 --> 01:18:41,040
Speaker 2: don't take it lightly. I love and this is why

1377
01:18:41,080 --> 01:18:43,200
Speaker 2: I always save my license number because I'm proud to

1378
01:18:43,240 --> 01:18:46,400
Speaker 2: be a licensed real estate professional. I tell people all

1379
01:18:46,400 --> 01:18:48,200
Speaker 2: the time, I'm not an internet guy. You just see

1380
01:18:48,200 --> 01:18:50,320
Speaker 2: me on the internet. This is what I do every

1381
01:18:50,360 --> 01:18:52,360
Speaker 2: single day, this is what my team does. We help

1382
01:18:52,400 --> 01:18:54,080
Speaker 2: a lot of people, and I don't brag about it.

1383
01:18:54,120 --> 01:18:57,280
Speaker 2: You'll never see me posting closing follows. You'll never see

1384
01:18:57,280 --> 01:19:02,799
Speaker 2: me doing boomerangues. Respectfully. I say that respectfully because everybody

1385
01:19:02,880 --> 01:19:05,280
Speaker 2: got their own swag and that's cool. But I help.

1386
01:19:05,640 --> 01:19:08,160
Speaker 2: Don't get it twisted. MG closes a lot of loans

1387
01:19:08,160 --> 01:19:10,920
Speaker 2: and I help a lot of people directly and indirectly.

1388
01:19:10,960 --> 01:19:12,880
Speaker 2: I help some of your favorite people that you watch

1389
01:19:12,920 --> 01:19:15,080
Speaker 2: all the time. And you'll never hear me chasing no

1390
01:19:15,200 --> 01:19:18,040
Speaker 2: clout because I don't do this for clout. I do

1391
01:19:18,120 --> 01:19:20,920
Speaker 2: this to help my people at Scale because I am

1392
01:19:20,920 --> 01:19:24,240
Speaker 2: a terrible Internet marketer. If I was really an Internet marketer,

1393
01:19:24,360 --> 01:19:27,160
Speaker 2: I would fledge your timeline with testimonials and all types

1394
01:19:27,160 --> 01:19:29,200
Speaker 2: of ish. But if you've been following me for years,

1395
01:19:29,240 --> 01:19:31,960
Speaker 2: you don't see that on my page. You see information

1396
01:19:32,560 --> 01:19:37,920
Speaker 2: all day long information, information and information, and I want

1397
01:19:38,000 --> 01:19:40,559
Speaker 2: you guys to execute at a high level. I don't

1398
01:19:40,600 --> 01:19:43,040
Speaker 2: even ask you guys for business for ninety percent of

1399
01:19:43,080 --> 01:19:45,360
Speaker 2: the time, I'm just giving you the information and if

1400
01:19:45,400 --> 01:19:48,240
Speaker 2: you work with me and my team, great cherry on top,

1401
01:19:48,479 --> 01:19:50,960
Speaker 2: God bless, thank you very much. But I don't do

1402
01:19:51,040 --> 01:19:53,840
Speaker 2: this for leads either. I do this because I want

1403
01:19:53,840 --> 01:19:56,519
Speaker 2: our people to own some shit. Because our home ownership

1404
01:19:56,560 --> 01:19:58,800
Speaker 2: rate is forty two percent in our community and it's

1405
01:19:58,920 --> 01:20:01,880
Speaker 2: very important for us to close the wealth gap. Real

1406
01:20:01,960 --> 01:20:04,800
Speaker 2: estate is a major component of that. So we have

1407
01:20:04,920 --> 01:20:06,719
Speaker 2: to own real estate.

1408
01:20:07,479 --> 01:20:09,360
Speaker 3: That's a fact. So we're gonna go into some questions.

1409
01:20:09,439 --> 01:20:12,599
Speaker 5: Before we go into questions, somebody said, if MG had

1410
01:20:12,600 --> 01:20:14,600
Speaker 5: a book or a pamphlet or something, I would buy it.

1411
01:20:14,680 --> 01:20:18,040
Speaker 5: So he actually has even better than that the real

1412
01:20:18,120 --> 01:20:19,040
Speaker 5: Estate Encyclopedia.

1413
01:20:19,320 --> 01:20:19,800
Speaker 4: Yes, book.

1414
01:20:20,840 --> 01:20:24,280
Speaker 2: I was about to pull a book too, but we

1415
01:20:24,280 --> 01:20:26,320
Speaker 2: ain't gonna talk about the book though. Let's talk about

1416
01:20:26,320 --> 01:20:27,160
Speaker 2: what we're talking about.

1417
01:20:27,880 --> 01:20:30,479
Speaker 5: So you got The Home Buyers Blueprint Volume one and

1418
01:20:30,680 --> 01:20:35,320
Speaker 5: volume two, over twenty hours of content, So imagine this

1419
01:20:35,640 --> 01:20:38,200
Speaker 5: one hour. He got twenty hours of content which literally

1420
01:20:38,280 --> 01:20:41,559
Speaker 5: walks you through every single thing. Auzy and then Volume

1421
01:20:41,600 --> 01:20:44,479
Speaker 5: two is like the rehab pack where you go over

1422
01:20:44,520 --> 01:20:47,519
Speaker 5: two or three k loans everything you know rehab. It's

1423
01:20:47,680 --> 01:20:52,599
Speaker 5: literally like step by step blueprint on all things real

1424
01:20:52,720 --> 01:20:56,040
Speaker 5: estate and real estate investor. What we did was originally

1425
01:20:56,120 --> 01:20:57,960
Speaker 5: that rolled out as a separate and it's still a

1426
01:20:58,000 --> 01:21:01,720
Speaker 5: separate if you want that individually, but we packaged it

1427
01:21:01,760 --> 01:21:05,000
Speaker 5: together with Eyo University, so anybody that's in Eyo University

1428
01:21:05,040 --> 01:21:08,880
Speaker 5: gets access to home buyers Blueprint Volume one and volume

1429
01:21:08,920 --> 01:21:12,920
Speaker 5: two as part of Eyo University. And for Eyo University,

1430
01:21:12,920 --> 01:21:16,000
Speaker 5: of course, we have monthly financial planning calls with me.

1431
01:21:16,120 --> 01:21:20,559
Speaker 5: We have weekly investment classes. Shout out to Chris. We

1432
01:21:20,720 --> 01:21:23,799
Speaker 5: have over one hundred archive classes because we do classes

1433
01:21:23,800 --> 01:21:27,080
Speaker 5: every single week and we have clubs. So people ask

1434
01:21:27,160 --> 01:21:29,160
Speaker 5: all the time, like what's the difference between earn your

1435
01:21:29,240 --> 01:21:32,160
Speaker 5: leadia Eyo University. Earn your lesia is like a public school.

1436
01:21:32,200 --> 01:21:34,599
Speaker 5: You can learn either way. That's the good thing. It's

1437
01:21:34,600 --> 01:21:37,679
Speaker 5: like you can learn either way. Public school is free.

1438
01:21:37,920 --> 01:21:41,719
Speaker 5: Eyo University is more hands on. It's a learning experience.

1439
01:21:41,720 --> 01:21:44,920
Speaker 5: But we have zoom calls, we answer questions. People actually

1440
01:21:45,000 --> 01:21:47,600
Speaker 5: learn from each other. It's a community. It's like you know,

1441
01:21:47,680 --> 01:21:50,160
Speaker 5: I actually get to talk do my financial planning thing

1442
01:21:50,240 --> 01:21:52,759
Speaker 5: once a month. Troy does the book club Movie Club.

1443
01:21:53,160 --> 01:21:56,559
Speaker 5: So I mean it's something that we wanted to take

1444
01:21:56,560 --> 01:22:00,400
Speaker 5: the best aspects of school, but you know, at spin

1445
01:22:00,479 --> 01:22:03,000
Speaker 5: to it and just make the things that's really applicable

1446
01:22:03,040 --> 01:22:05,479
Speaker 5: as opposed to teaching you like, you know, about the

1447
01:22:05,560 --> 01:22:07,599
Speaker 5: stars and the moon and all that kind of stuff,

1448
01:22:08,400 --> 01:22:11,800
Speaker 5: dissecting frogs and things that that wasn't really necessary. So

1449
01:22:12,400 --> 01:22:15,040
Speaker 5: and we did it at a competitive price point that

1450
01:22:15,040 --> 01:22:17,280
Speaker 5: I don't think anybody in our industry has ever been

1451
01:22:17,320 --> 01:22:20,559
Speaker 5: able to accomplish, to be able to do that at

1452
01:22:20,840 --> 01:22:23,960
Speaker 5: And you know, we're in a good vibe right now.

1453
01:22:24,000 --> 01:22:25,840
Speaker 5: We gotta invest Fst coming up. MG is gonna be

1454
01:22:25,880 --> 01:22:29,200
Speaker 5: at to invest Fest, and you know, it's just it's good.

1455
01:22:29,240 --> 01:22:31,519
Speaker 5: It's good times right now. So we decided to just

1456
01:22:31,560 --> 01:22:33,840
Speaker 5: do a flash sale, forty eight hour fourth of July

1457
01:22:34,080 --> 01:22:38,280
Speaker 5: flash sale. We'll probably run into like Saturday, and we're

1458
01:22:38,280 --> 01:22:40,320
Speaker 5: going to do seventy five percent off four ninety nine

1459
01:22:40,400 --> 01:22:42,599
Speaker 5: for the whole entire year. And that's the low price

1460
01:22:42,640 --> 01:22:45,080
Speaker 5: it's been since Black Friday. It hasn't been that right

1461
01:22:45,200 --> 01:22:49,400
Speaker 5: since Black Friday. So literally one hundred hours of videos,

1462
01:22:49,560 --> 01:22:53,680
Speaker 5: calls with me every month, home Buyers, Blueprint Voume one,

1463
01:22:53,840 --> 01:22:57,479
Speaker 5: Volume two, book Club, Movie Club, access to the Facebook group,

1464
01:22:57,840 --> 01:23:00,200
Speaker 5: access to the weekly classes, access to the to the

1465
01:23:00,200 --> 01:23:05,800
Speaker 5: weekly investment classes. Five hundred dollars, Like that's almost impossible

1466
01:23:05,920 --> 01:23:08,400
Speaker 5: to accomplish, but nothing is impossible at EYL.

1467
01:23:09,000 --> 01:23:12,120
Speaker 4: So that's a night out of TGA. Friday is a moment.

1468
01:23:11,960 --> 01:23:16,880
Speaker 3: And we ain't that's a fact.

1469
01:23:17,000 --> 01:23:20,040
Speaker 5: So, you know, people always complain about stuff not being affordable.

1470
01:23:20,360 --> 01:23:22,519
Speaker 5: If you can't afford that, then it's just not the

1471
01:23:22,560 --> 01:23:24,240
Speaker 5: right time for you. Right now, you can just stay

1472
01:23:24,320 --> 01:23:27,519
Speaker 5: and just watch the podcast, watch YouTube and you get

1473
01:23:27,560 --> 01:23:29,599
Speaker 5: a lot of information there. But if you just want

1474
01:23:29,640 --> 01:23:31,919
Speaker 5: to you know, a little bit more of a higher education,

1475
01:23:32,400 --> 01:23:38,960
Speaker 5: your handheld direct access to us on a certain level, Yeah,

1476
01:23:39,240 --> 01:23:42,240
Speaker 5: choices show us forty eight hours Eyo University Flash say

1477
01:23:42,240 --> 01:23:44,799
Speaker 5: I'll pin it. I'll pin up the link in YouTube

1478
01:23:44,800 --> 01:23:46,759
Speaker 5: and then I'll also put in the description of this video.

1479
01:23:47,240 --> 01:23:49,360
Speaker 5: And the best part about these classes that we do

1480
01:23:49,479 --> 01:23:51,800
Speaker 5: is that we actually get to answer questions. So this

1481
01:23:51,840 --> 01:23:54,160
Speaker 5: is something that you know, once again, you don't do

1482
01:23:54,200 --> 01:23:56,639
Speaker 5: that on a podcast where we actually you know, take

1483
01:23:56,720 --> 01:23:58,760
Speaker 5: zoom questions and we answer it. So it's just like

1484
01:23:58,800 --> 01:24:01,040
Speaker 5: being in a classroom. So that's what we're gonna do.

1485
01:24:01,120 --> 01:24:03,640
Speaker 3: Right now. We're gonna answer a few questions before we

1486
01:24:03,680 --> 01:24:06,439
Speaker 3: wrap and shout to Renee.

1487
01:24:06,640 --> 01:24:08,679
Speaker 4: Renee one of our top earners.

1488
01:24:08,680 --> 01:24:13,320
Speaker 6: I see she's putting the entire pamphlet of things.

1489
01:24:13,680 --> 01:24:16,000
Speaker 4: Yeah, they always, they always in everything. Shout to all artists.

1490
01:24:16,560 --> 01:24:17,080
Speaker 3: Let's try this.

1491
01:24:17,160 --> 01:24:19,439
Speaker 4: Let's go lucky three one three were coming to you

1492
01:24:19,479 --> 01:24:21,200
Speaker 4: and meet yourself? You better neither. What's going on?

1493
01:24:25,120 --> 01:24:25,600
Speaker 5: Can you hear me?

1494
01:24:26,520 --> 01:24:27,679
Speaker 4: Yeah? We can hate you purposes.

1495
01:24:29,120 --> 01:24:30,559
Speaker 13: How y'all doing the black man?

1496
01:24:30,960 --> 01:24:31,519
Speaker 2: What's going on?

1497
01:24:32,880 --> 01:24:34,680
Speaker 3: My question? Pretty well? Pretty well?

1498
01:24:34,720 --> 01:24:34,960
Speaker 5: Thanks?

1499
01:24:35,560 --> 01:24:36,599
Speaker 13: Well, obviously I'm.

1500
01:24:36,400 --> 01:24:40,360
Speaker 2: From Detroit and what I've done.

1501
01:24:40,520 --> 01:24:45,320
Speaker 13: What though our market appears to be extremely, extremely all

1502
01:24:45,360 --> 01:24:49,320
Speaker 13: the price, in my opinion, I am apparently looking for

1503
01:24:49,360 --> 01:24:53,880
Speaker 13: a home and it's almost to a point where it's

1504
01:24:53,920 --> 01:24:56,960
Speaker 13: like who who are buying these songs? Who honestly can

1505
01:24:57,040 --> 01:25:00,800
Speaker 13: afflord them? Because when you talk to other buyers that

1506
01:25:01,000 --> 01:25:05,679
Speaker 13: are people that's not of en glomary, everyone is saying

1507
01:25:05,680 --> 01:25:09,479
Speaker 13: the same thing. You go look at a house, it's

1508
01:25:09,560 --> 01:25:13,160
Speaker 13: already kind of over priced, fifty thousand, and you still

1509
01:25:13,920 --> 01:25:17,720
Speaker 13: in a bidding room. What would you do if you

1510
01:25:17,800 --> 01:25:19,040
Speaker 13: are in that situation?

1511
01:25:21,720 --> 01:25:30,360
Speaker 2: Rent is overpriced too, Pick your poison. That's kind of

1512
01:25:30,479 --> 01:25:32,679
Speaker 2: the only thing you can do. Right now. We are

1513
01:25:32,680 --> 01:25:38,479
Speaker 2: in inflation every time, So ultimately, right now, I understand

1514
01:25:38,479 --> 01:25:41,840
Speaker 2: your concerns, but maybe you need to start looking at home.

1515
01:25:41,960 --> 01:25:45,439
Speaker 2: And I'm taking at these homes are turnkey. They're probably

1516
01:25:45,520 --> 01:25:53,320
Speaker 2: already renovated, correct, Sam, can you hear me?

1517
01:25:54,400 --> 01:25:58,799
Speaker 6: Look you they Oh, yeah, that's that?

1518
01:25:58,840 --> 01:26:00,719
Speaker 4: What's that I'm as us?

1519
01:26:05,000 --> 01:26:06,559
Speaker 3: Well, let's just say that the turkey.

1520
01:26:07,160 --> 01:26:10,040
Speaker 2: So let's just say they turnkey, right then you have

1521
01:26:10,080 --> 01:26:14,080
Speaker 2: to find something that's not turnkey. You're here, Yeah, so

1522
01:26:14,200 --> 01:26:16,840
Speaker 2: lucky it is those houses fully renovated homes you're looking at.

1523
01:26:17,520 --> 01:26:19,479
Speaker 13: No, man, you still have to go in there and

1524
01:26:19,520 --> 01:26:23,160
Speaker 13: put sixty to hundred thousand in there to update it

1525
01:26:23,200 --> 01:26:24,680
Speaker 13: and make it the way that you will want it.

1526
01:26:24,760 --> 01:26:27,639
Speaker 13: Are they livable, Yes, but you would still need maybe

1527
01:26:27,640 --> 01:26:31,360
Speaker 13: a roof windows. I mean, you still got to go

1528
01:26:31,360 --> 01:26:32,839
Speaker 13: in there and put work into these houses.

1529
01:26:32,920 --> 01:26:36,040
Speaker 2: Are how much of these house is worth after your repairs?

1530
01:26:38,000 --> 01:26:40,160
Speaker 13: They already overpriced when you buy.

1531
01:26:39,920 --> 01:26:43,439
Speaker 2: Any but no, the question is how after So if

1532
01:26:43,479 --> 01:26:45,960
Speaker 2: you buy it at whatever price and you put in

1533
01:26:46,040 --> 01:26:48,000
Speaker 2: fifty to one hundred K, how much is the house

1534
01:26:48,040 --> 01:26:48,559
Speaker 2: gonna be worth?

1535
01:26:52,040 --> 01:26:55,560
Speaker 13: That part? I'm not sure tomorrow what of the peers?

1536
01:26:55,600 --> 01:26:58,280
Speaker 13: Before you put the sixty to one hundred and into it,

1537
01:26:59,600 --> 01:27:03,439
Speaker 13: you are already buying a house with no equity. There's

1538
01:27:03,520 --> 01:27:05,200
Speaker 13: nothing left, there's no more room left.

1539
01:27:06,920 --> 01:27:09,439
Speaker 2: So if you have no equity, then obviously that's not

1540
01:27:09,560 --> 01:27:11,960
Speaker 2: worth it for you to go into a home. And

1541
01:27:12,000 --> 01:27:14,719
Speaker 2: then you got to still put that amount of money

1542
01:27:15,040 --> 01:27:18,000
Speaker 2: and you're going to be upside down. So I would

1543
01:27:18,040 --> 01:27:20,400
Speaker 2: probably say then you have to probably look in different

1544
01:27:20,479 --> 01:27:23,719
Speaker 2: areas to whereas you're not you're not in that same

1545
01:27:23,760 --> 01:27:26,599
Speaker 2: position because that's just that's just not a good deal

1546
01:27:26,600 --> 01:27:28,280
Speaker 2: and there's nothing you can do about that. So you

1547
01:27:28,320 --> 01:27:30,320
Speaker 2: don't want to pull a trigger or anything like that.

1548
01:27:30,680 --> 01:27:32,920
Speaker 2: You just got to find homes where if you are

1549
01:27:32,960 --> 01:27:35,719
Speaker 2: going to put that money, that your active innovative value

1550
01:27:35,760 --> 01:27:37,439
Speaker 2: is going to be greater than what you put into it.

1551
01:27:37,479 --> 01:27:39,519
Speaker 2: So that way you're walking into in there with some

1552
01:27:39,600 --> 01:27:41,640
Speaker 2: equity and you're forcing that appreciation.

1553
01:27:44,880 --> 01:27:48,200
Speaker 13: All right, Well, God be patient, Thank you.

1554
01:27:48,280 --> 01:27:50,760
Speaker 2: Much, appreciate, appreciate you, bro.

1555
01:27:51,640 --> 01:27:54,160
Speaker 4: Let's try this. Let's go to Jessica d Jessica d

1556
01:27:54,280 --> 01:27:56,160
Speaker 4: we come to you on mute yourself. You've been unmuted.

1557
01:27:56,200 --> 01:27:56,960
Speaker 4: What's going on with you?

1558
01:28:04,479 --> 01:28:06,800
Speaker 2: Damn Jess, Damn Jess.

1559
01:28:06,640 --> 01:28:09,800
Speaker 4: It's all good. Just three minutes ago, Jennifer, we're coming

1560
01:28:09,800 --> 01:28:12,160
Speaker 4: to you, Jennifer. What's going on? I mute yourself. You've

1561
01:28:12,160 --> 01:28:12,759
Speaker 4: been unmuted.

1562
01:28:13,600 --> 01:28:16,040
Speaker 14: Hello, good evening, gentlemen, Thank you for this.

1563
01:28:16,479 --> 01:28:17,360
Speaker 2: What's up, Jennifer?

1564
01:28:17,800 --> 01:28:21,240
Speaker 14: How you doing? Matt quick question for you. So you know,

1565
01:28:21,360 --> 01:28:24,040
Speaker 14: I'm a realtor Martha's Vineyard. I'm in the middle of

1566
01:28:24,120 --> 01:28:27,880
Speaker 14: a deal now. Buyer client is buying land for one

1567
01:28:27,960 --> 01:28:32,080
Speaker 14: point five eight five. Appraisal came back at one point four.

1568
01:28:33,720 --> 01:28:36,679
Speaker 14: I went back to the appraiser with comps to justify

1569
01:28:37,000 --> 01:28:40,160
Speaker 14: the one five eight five. He discounted them. He said,

1570
01:28:40,200 --> 01:28:44,519
Speaker 14: no good the I'm representing the buyer. The seller's agent

1571
01:28:44,680 --> 01:28:47,920
Speaker 14: went back and said their errors in the appraisal. So

1572
01:28:47,960 --> 01:28:51,640
Speaker 14: the bank listened to that and is ordering a new appraisal.

1573
01:28:52,160 --> 01:28:55,439
Speaker 14: So I'm curious to know, from your perspective as a

1574
01:28:55,640 --> 01:29:00,559
Speaker 14: mortgage loan officer, what our chances look like of getting

1575
01:29:01,280 --> 01:29:03,479
Speaker 14: How do you deal with this kind of situation and

1576
01:29:03,520 --> 01:29:06,080
Speaker 14: what our chances look like of getting the APPRAI a

1577
01:29:06,120 --> 01:29:09,599
Speaker 14: new appraisal to come up with the right numbers so

1578
01:29:09,640 --> 01:29:12,240
Speaker 14: that the buyer client doesn't have to come up with

1579
01:29:12,320 --> 01:29:13,360
Speaker 14: more cash.

1580
01:29:13,439 --> 01:29:15,800
Speaker 2: Man, this was an amazing question. I'm glad you asked

1581
01:29:15,840 --> 01:29:19,560
Speaker 2: the Jennifer great question because this happens every day unfortunately.

1582
01:29:20,000 --> 01:29:24,280
Speaker 2: So first, I want the audience to know that the appraiser,

1583
01:29:24,800 --> 01:29:27,639
Speaker 2: when he does an appraisal report, he's given his opinion

1584
01:29:28,600 --> 01:29:32,599
Speaker 2: on a value. His opinion is goal to the banks,

1585
01:29:33,040 --> 01:29:34,800
Speaker 2: and we're going to go off of that. You guys

1586
01:29:34,800 --> 01:29:39,080
Speaker 2: did a great job by contesting that appraisal, and the AMC,

1587
01:29:39,280 --> 01:29:43,479
Speaker 2: the Appraisal Management Company, believed you guys and say, you

1588
01:29:43,520 --> 01:29:46,559
Speaker 2: know what, we're going to order a new appraisal. I

1589
01:29:46,600 --> 01:29:50,120
Speaker 2: will tell you from my experience, there's a fifty maybe

1590
01:29:50,160 --> 01:29:53,479
Speaker 2: I would probably say a sixty five percent chance that

1591
01:29:53,520 --> 01:29:58,200
Speaker 2: appraisal comes in low to oh wow, it is, and

1592
01:29:58,240 --> 01:30:01,200
Speaker 2: it's a thirty to chance that it might hit the

1593
01:30:01,280 --> 01:30:03,519
Speaker 2: numbers that you want. If you have to remember, these

1594
01:30:03,520 --> 01:30:06,599
Speaker 2: appraisers talk to each other. Number one, they're all providing

1595
01:30:06,680 --> 01:30:11,120
Speaker 2: the same the same comps everywhere you go, and a

1596
01:30:11,160 --> 01:30:13,880
Speaker 2: lot of appraisers they're going to use the same type

1597
01:30:13,920 --> 01:30:17,200
Speaker 2: of formulas to either adjust up or adjust down when

1598
01:30:17,200 --> 01:30:20,200
Speaker 2: it comes to their adjustments and comparables and things of

1599
01:30:20,240 --> 01:30:24,120
Speaker 2: that nature. So there's a good possibility that this piece

1600
01:30:24,160 --> 01:30:29,120
Speaker 2: of land will get a praise for the same value

1601
01:30:29,200 --> 01:30:32,640
Speaker 2: or probably a little bit more. It's a good possibility

1602
01:30:32,680 --> 01:30:35,799
Speaker 2: that it probably won't get ap praised for the sales price.

1603
01:30:36,800 --> 01:30:38,880
Speaker 6: You know, that might even be something we need to

1604
01:30:38,920 --> 01:30:41,879
Speaker 6: just have like a whole class or the appraisal process,

1605
01:30:41,920 --> 01:30:45,280
Speaker 6: because I've had some experiences even now with something, you know,

1606
01:30:45,400 --> 01:30:46,880
Speaker 6: property that I'm mentioningly.

1607
01:30:46,760 --> 01:30:50,320
Speaker 9: Building, you know, thinking that the square feed is gonna

1608
01:30:50,320 --> 01:30:52,679
Speaker 9: be one thing, but understanding like yo, if there's no floor,

1609
01:30:52,720 --> 01:30:53,719
Speaker 9: then that really doesn't count.

1610
01:30:53,720 --> 01:30:55,719
Speaker 4: And top inside the appraisal process.

1611
01:30:55,760 --> 01:30:58,559
Speaker 6: So even understanding the interests of that, because that could

1612
01:30:58,560 --> 01:31:00,880
Speaker 6: be a process that could make a break deal and

1613
01:31:00,960 --> 01:31:02,800
Speaker 6: make or break them out of equity that you think

1614
01:31:02,840 --> 01:31:03,960
Speaker 6: that you have in a property.

1615
01:31:04,320 --> 01:31:06,639
Speaker 4: So justica, I appreciate that question. That was a great one.

1616
01:31:06,960 --> 01:31:09,719
Speaker 2: Yeah, that was that was The praiser process is such

1617
01:31:09,720 --> 01:31:13,160
Speaker 2: a finicky process, and I want everybody to understand lenders

1618
01:31:13,160 --> 01:31:17,080
Speaker 2: do not control appraisals. That's number one. There's an Appraisal

1619
01:31:17,200 --> 01:31:23,160
Speaker 2: Management company AMC that acts as the third party person

1620
01:31:23,240 --> 01:31:28,200
Speaker 2: between the appraiser and the lender that AMC is choosing

1621
01:31:28,240 --> 01:31:32,000
Speaker 2: from a round robbin of appraisers that's approved what said lender,

1622
01:31:32,439 --> 01:31:35,800
Speaker 2: and then they pick that appraiser goes out and us

1623
01:31:35,840 --> 01:31:38,479
Speaker 2: at the on the lender side, we have no clue

1624
01:31:38,520 --> 01:31:42,160
Speaker 2: who that appraiser is until we get the actual report back.

1625
01:31:42,600 --> 01:31:44,559
Speaker 2: So a lot of people always say it's the lenders

1626
01:31:44,560 --> 01:31:47,800
Speaker 2: the lender. No, it's not the lender. It's with our

1627
01:31:47,880 --> 01:31:50,320
Speaker 2: hands are tied because of all the regulations that was

1628
01:31:50,320 --> 01:31:53,680
Speaker 2: put in place after the wild cowboy days. So that

1629
01:31:53,880 --> 01:31:57,200
Speaker 2: was a great question. But it's an unfortunate thing that

1630
01:31:57,320 --> 01:31:59,560
Speaker 2: happens in this market. And if you do get a

1631
01:31:59,640 --> 01:32:02,840
Speaker 2: lower they not might go in your bias favor. Now

1632
01:32:02,840 --> 01:32:05,880
Speaker 2: it's time to negotiate because now you got too low appraisals.

1633
01:32:06,160 --> 01:32:09,280
Speaker 14: Right, Well, that's what I told him that we're going

1634
01:32:09,320 --> 01:32:11,439
Speaker 14: back to the cellar and asking him to reduce the

1635
01:32:11,479 --> 01:32:15,679
Speaker 14: price if it doesn't work out, which is great, which

1636
01:32:15,720 --> 01:32:17,559
Speaker 14: is great for him, and I want, you know, him

1637
01:32:17,560 --> 01:32:18,479
Speaker 14: to get a fair price.

1638
01:32:18,800 --> 01:32:21,560
Speaker 2: Absolutely, and it goes in a favor. My question is

1639
01:32:21,600 --> 01:32:25,679
Speaker 2: what are they doing with this lamb building the house? Okay,

1640
01:32:25,760 --> 01:32:27,840
Speaker 2: so they are what type of financing are they doing?

1641
01:32:30,520 --> 01:32:31,400
Speaker 2: Doing cash?

1642
01:32:31,960 --> 01:32:35,040
Speaker 14: No, no, it's we do have a lot of cash deals,

1643
01:32:35,040 --> 01:32:38,120
Speaker 14: but this one they're financing an eighty twenty loan.

1644
01:32:38,920 --> 01:32:42,040
Speaker 2: Okay, okay, so they're doing eighty percent down and doing

1645
01:32:42,040 --> 01:32:47,160
Speaker 2: the rest of eighty percent sat down. And then they

1646
01:32:47,360 --> 01:32:52,559
Speaker 2: so they're doing acquisition and construction in one loan. Yes, yes, okay,

1647
01:32:53,160 --> 01:32:54,360
Speaker 2: smart play. I like that.

1648
01:32:55,040 --> 01:32:57,120
Speaker 3: Yeah, yeah, about that.

1649
01:32:57,960 --> 01:33:02,439
Speaker 2: We know a thing or two. Yeah, good question.

1650
01:33:02,920 --> 01:33:06,240
Speaker 14: Thing, Matt. You know I live in Massachusetts, but you

1651
01:33:06,320 --> 01:33:08,800
Speaker 14: don't know that I grew up in Rockaway. Queens, get

1652
01:33:08,840 --> 01:33:09,240
Speaker 14: the money.

1653
01:33:09,439 --> 01:33:12,120
Speaker 2: Queens, get the money. Let's go you at the end

1654
01:33:12,120 --> 01:33:16,639
Speaker 2: of the the Rockaways, the end of the Earth, the Earth,

1655
01:33:17,160 --> 01:33:19,320
Speaker 2: the end of the Earth. Shout out to the Rockaways.

1656
01:33:20,680 --> 01:33:22,679
Speaker 4: Out to Jennifer. Thanks Jennifer, Thank.

1657
01:33:22,520 --> 01:33:25,960
Speaker 2: You, appreciate you, Jennifer. Queen's get the money.

1658
01:33:26,520 --> 01:33:29,519
Speaker 4: All right's let's try this. That's uh, Regina, what's going on, y'all?

1659
01:33:29,520 --> 01:33:31,360
Speaker 4: See you on muted? How you doing?

1660
01:33:32,080 --> 01:33:35,360
Speaker 15: Hey, don't be alarmed. This is our brother, Reggie. Hey, Matt,

1661
01:33:35,479 --> 01:33:41,879
Speaker 15: Troy Forshak Reggie. He's like, don't be alarmed.

1662
01:33:43,600 --> 01:33:47,400
Speaker 3: Switch on us. I'm trying to house hack.

1663
01:33:47,920 --> 01:33:50,639
Speaker 4: So what you're talking about.

1664
01:33:51,080 --> 01:33:54,960
Speaker 15: Yeah, exactly, yeah, yeah, So long story short, my mom's

1665
01:33:54,960 --> 01:33:58,000
Speaker 15: a real estate broker. We're trying to find Multiplatan properties

1666
01:33:58,520 --> 01:34:01,840
Speaker 15: twenty nineteen could find me, but you feel me.

1667
01:34:01,840 --> 01:34:02,400
Speaker 4: You off the market.

1668
01:34:02,439 --> 01:34:04,960
Speaker 2: You doing a single family house in the upcoming neighborhood?

1669
01:34:05,360 --> 01:34:07,840
Speaker 15: Now rehabbing this house right now, but I want to

1670
01:34:07,880 --> 01:34:09,720
Speaker 15: kind of do a four three two one. So my

1671
01:34:09,840 --> 01:34:11,960
Speaker 15: question for Matt is can I move out of here,

1672
01:34:12,040 --> 01:34:14,960
Speaker 15: run this place out, moving my parents and then four

1673
01:34:15,000 --> 01:34:15,760
Speaker 15: three to one from there?

1674
01:34:16,960 --> 01:34:18,240
Speaker 2: Do you own the house you in now?

1675
01:34:18,920 --> 01:34:20,800
Speaker 15: He's a conventional twenty year on it right now?

1676
01:34:21,800 --> 01:34:22,719
Speaker 2: What type of property?

1677
01:34:22,760 --> 01:34:23,000
Speaker 3: Is it?

1678
01:34:23,400 --> 01:34:24,040
Speaker 15: Single family?

1679
01:34:25,439 --> 01:34:27,639
Speaker 2: So you have a single family and then you want

1680
01:34:27,640 --> 01:34:30,759
Speaker 2: to move with your parents and then go buy multi

1681
01:34:30,760 --> 01:34:32,440
Speaker 2: families to house hot?

1682
01:34:32,760 --> 01:34:35,840
Speaker 15: Yeah, rent this place out if I have to and

1683
01:34:35,880 --> 01:34:39,120
Speaker 15: move my parents and just get troplex, duplex.

1684
01:34:38,760 --> 01:34:40,360
Speaker 2: Or what I mean? I mean?

1685
01:34:40,439 --> 01:34:40,639
Speaker 3: Yeah?

1686
01:34:40,680 --> 01:34:44,479
Speaker 2: I mean look, so I have great question, bro father,

1687
01:34:44,680 --> 01:34:48,439
Speaker 2: taxes properly, why are you living with your parents? So

1688
01:34:48,880 --> 01:34:52,439
Speaker 2: make sure you show this single family property as an

1689
01:34:52,479 --> 01:34:55,960
Speaker 2: investment property on your tax returns, so that way when

1690
01:34:55,960 --> 01:34:57,960
Speaker 2: it's time for you to get your multi families and

1691
01:34:57,960 --> 01:34:59,760
Speaker 2: the lenders say, well, you have this mortgage is a

1692
01:34:59,800 --> 01:35:02,439
Speaker 2: single family, No, it's an investment property. Look at their

1693
01:35:02,479 --> 01:35:06,519
Speaker 2: tax returns. It's on there. It's listed as an investment property.

1694
01:35:07,000 --> 01:35:10,360
Speaker 2: So that way you buyd your multifamily and now doing

1695
01:35:10,400 --> 01:35:14,400
Speaker 2: your househide journey, that won't impact you at all. Okay

1696
01:35:14,720 --> 01:35:17,760
Speaker 2: from that perspective. Now, obviously you know, depending on how

1697
01:35:17,800 --> 01:35:20,960
Speaker 2: much you deducted and everything like that could impact your

1698
01:35:21,000 --> 01:35:23,320
Speaker 2: debt to income ratio and what you can qualify for.

1699
01:35:23,439 --> 01:35:27,639
Speaker 2: That's a whole deeper conversation. But essentially to answer the question,

1700
01:35:28,479 --> 01:35:31,759
Speaker 2: if you if you rent it out and you file

1701
01:35:31,800 --> 01:35:34,200
Speaker 2: it on your taxes and show it as a true investment,

1702
01:35:34,600 --> 01:35:37,040
Speaker 2: you shouldn't have an issue with the house hack to

1703
01:35:37,040 --> 01:35:38,040
Speaker 2: start your house hacking.

1704
01:35:38,800 --> 01:35:41,600
Speaker 15: Okay, great, So one more question for that. So I

1705
01:35:41,600 --> 01:35:43,719
Speaker 15: have to wait the entire year to get taxes back

1706
01:35:43,880 --> 01:35:46,160
Speaker 15: with my tax return to prove this or can I

1707
01:35:46,200 --> 01:35:47,360
Speaker 15: do it before the year?

1708
01:35:47,560 --> 01:35:47,760
Speaker 4: Bid?

1709
01:35:48,920 --> 01:35:50,000
Speaker 2: When are you planning on doing this?

1710
01:35:51,160 --> 01:35:52,160
Speaker 4: Oh?

1711
01:35:52,320 --> 01:35:53,280
Speaker 2: I pray moving out of here.

1712
01:35:53,439 --> 01:35:54,919
Speaker 4: It's based off by December.

1713
01:35:56,520 --> 01:35:58,240
Speaker 2: I would say, if you can get a tenant in

1714
01:35:58,280 --> 01:36:01,680
Speaker 2: there in this calendar year, Okay, I remember if you

1715
01:36:01,760 --> 01:36:05,000
Speaker 2: wait till December, the movie you get somebody in that January. Now,

1716
01:36:05,000 --> 01:36:07,920
Speaker 2: you're in twenty twenty three. Okay, you know what I mean.

1717
01:36:08,000 --> 01:36:09,760
Speaker 2: So I would say, wait, I would say, if you

1718
01:36:09,760 --> 01:36:12,840
Speaker 2: can get a tenant in there, start paying you so

1719
01:36:12,920 --> 01:36:14,800
Speaker 2: that way you can file for twenty twenty two and

1720
01:36:14,840 --> 01:36:18,799
Speaker 2: show it on there, then you're you're in a better position. Okay, perfect,

1721
01:36:20,840 --> 01:36:23,840
Speaker 2: Thank you, appreciate you, appreciate you.

1722
01:36:27,240 --> 01:36:30,639
Speaker 6: Let's try to Let's go to uh, let's go to Ashley. Ashley,

1723
01:36:30,720 --> 01:36:33,559
Speaker 6: we are coming to you. Mut yourself. You have been unmuted.

1724
01:36:34,439 --> 01:36:36,479
Speaker 6: Hopefully have a good naight. What's going on?

1725
01:36:37,439 --> 01:36:43,080
Speaker 10: Hey there, how are you guys doing. I wanted to

1726
01:36:43,200 --> 01:36:46,320
Speaker 10: just shout out and say thank you guys. I went

1727
01:36:46,360 --> 01:36:48,240
Speaker 10: to the Black Money Forum and I met you.

1728
01:36:48,120 --> 01:36:51,439
Speaker 3: Guys, juvenard all.

1729
01:36:51,520 --> 01:36:52,080
Speaker 4: What happened to it?

1730
01:36:52,320 --> 01:36:53,000
Speaker 2: What happened to him?

1731
01:36:55,080 --> 01:36:55,120
Speaker 4: No?

1732
01:36:55,520 --> 01:36:56,320
Speaker 10: Can you hear me?

1733
01:36:58,160 --> 01:36:58,599
Speaker 2: Okay?

1734
01:36:58,800 --> 01:37:01,400
Speaker 10: Yes, So I went to the Black Money Forum and

1735
01:37:01,400 --> 01:37:04,320
Speaker 10: I've seen all you guys out there, really great information.

1736
01:37:04,640 --> 01:37:08,000
Speaker 10: Met with you two MG. So thank you so much, appreciate.

1737
01:37:09,520 --> 01:37:13,280
Speaker 10: So I wrote my question in the chat, but I'm

1738
01:37:13,280 --> 01:37:15,120
Speaker 10: going to go back and get it. So I have

1739
01:37:15,200 --> 01:37:18,599
Speaker 10: a few boats. I'm currently on the process of trying

1740
01:37:18,640 --> 01:37:21,640
Speaker 10: to get myself together so that I can get like

1741
01:37:21,680 --> 01:37:26,000
Speaker 10: that pre appraisal done in order to start looking and

1742
01:37:26,320 --> 01:37:29,559
Speaker 10: you know, just getting myself ready. I found under a

1743
01:37:29,640 --> 01:37:33,559
Speaker 10: lender and I'm currently working through that process. A question

1744
01:37:33,600 --> 01:37:36,280
Speaker 10: that I have is can I go to multiple lenders

1745
01:37:36,320 --> 01:37:40,439
Speaker 10: at the same time or do I have to start

1746
01:37:40,439 --> 01:37:43,920
Speaker 10: with one lender and kind of like work from there.

1747
01:37:44,040 --> 01:37:50,759
Speaker 2: For your pray approval. Yes, you can go to multiple

1748
01:37:50,840 --> 01:37:53,040
Speaker 2: lenders at the same time. If you're going to have

1749
01:37:53,240 --> 01:37:56,599
Speaker 2: multiple lenders run your credit, I would recommend doing it

1750
01:37:56,640 --> 01:38:00,680
Speaker 2: all within the same twenty four hours twenty four to

1751
01:38:00,760 --> 01:38:04,679
Speaker 2: fourty eight hours. But I'll be honest with you, you don't

1752
01:38:04,680 --> 01:38:06,200
Speaker 2: need to go to multiple lenders once you know what

1753
01:38:06,280 --> 01:38:08,880
Speaker 2: you're talking about, right, You just need to go to

1754
01:38:08,920 --> 01:38:12,920
Speaker 2: one lender, know your scenario right. So that's why it's

1755
01:38:12,920 --> 01:38:18,200
Speaker 2: important for you to be like the CEO right and

1756
01:38:18,520 --> 01:38:22,160
Speaker 2: understand the process and understand your debt to income ratio,

1757
01:38:22,280 --> 01:38:24,840
Speaker 2: Understand what programs that you are pre approved for, so

1758
01:38:24,880 --> 01:38:26,600
Speaker 2: that way when you go to lender B and C,

1759
01:38:27,240 --> 01:38:31,200
Speaker 2: you can have an intelligent conversation with them about your profile. Right,

1760
01:38:31,320 --> 01:38:34,280
Speaker 2: so I can say, look, this is my fight, go

1761
01:38:34,880 --> 01:38:38,960
Speaker 2: I got a forty over forty two debt to income ratio,

1762
01:38:39,080 --> 01:38:41,920
Speaker 2: I'm already pre approved from ABC lender to get the

1763
01:38:41,960 --> 01:38:47,000
Speaker 2: home Ready program with I'm doing five percent down. These

1764
01:38:47,000 --> 01:38:50,000
Speaker 2: are my specs. A knowledge to a loan officer is

1765
01:38:50,000 --> 01:38:51,479
Speaker 2: going to hear that and say, oh, you know what

1766
01:38:51,479 --> 01:38:54,400
Speaker 2: you're talking about, Well, based off what you're saying, I

1767
01:38:54,439 --> 01:38:56,280
Speaker 2: can get X, Y and Z for you. You know

1768
01:38:56,320 --> 01:38:57,920
Speaker 2: what I mean? What did they quote you? Oh? I

1769
01:38:57,920 --> 01:39:00,240
Speaker 2: can probably do that too. Right without your you have

1770
01:39:00,360 --> 01:39:02,519
Speaker 2: to go through the credit polls, and that's when you

1771
01:39:02,560 --> 01:39:05,880
Speaker 2: get more into being like that interviewer, you know what

1772
01:39:05,920 --> 01:39:09,360
Speaker 2: I'm saying, versus the emotional home buyer where it's just

1773
01:39:09,439 --> 01:39:13,200
Speaker 2: like you're happy just to get several pre approval letters

1774
01:39:13,200 --> 01:39:16,920
Speaker 2: and offers and you're just like you're happy, go lucky, right,

1775
01:39:16,920 --> 01:39:19,719
Speaker 2: and now multiple people don't run your credit for absolutely

1776
01:39:19,800 --> 01:39:24,360
Speaker 2: no reason. So for me, that's why we did the

1777
01:39:24,400 --> 01:39:27,519
Speaker 2: home Buyers Blueprint Volume one and Volume to, especially Volume

1778
01:39:27,560 --> 01:39:31,400
Speaker 2: one to teach you guys how to be honestly. People

1779
01:39:31,439 --> 01:39:34,120
Speaker 2: have taken the blueprint and now they're loan offices because

1780
01:39:34,160 --> 01:39:36,000
Speaker 2: of the blueprint because they taught them so much and

1781
01:39:36,040 --> 01:39:37,120
Speaker 2: now they got into the game.

1782
01:39:37,800 --> 01:39:38,000
Speaker 3: Right.

1783
01:39:38,280 --> 01:39:40,519
Speaker 2: So if you and you have access to the blueprint,

1784
01:39:40,600 --> 01:39:42,080
Speaker 2: so I would tell you go in there and study

1785
01:39:42,120 --> 01:39:44,639
Speaker 2: that bad boy so over fifteen hours of great information,

1786
01:39:44,760 --> 01:39:46,800
Speaker 2: and they will teach you everything that you need to know,

1787
01:39:47,000 --> 01:39:50,080
Speaker 2: how to calculate your income, how to figure out your

1788
01:39:50,080 --> 01:39:52,920
Speaker 2: debt to income ratio. Hell, you'll probably be when you

1789
01:39:52,920 --> 01:39:56,000
Speaker 2: finish the blueprint. You can preapprove yourself. You know what

1790
01:39:56,040 --> 01:40:00,840
Speaker 2: I'm saying, and you'll know exactly what you're doing. So

1791
01:40:01,960 --> 01:40:04,920
Speaker 2: I would say, can you to answer your question, yes,

1792
01:40:05,040 --> 01:40:07,280
Speaker 2: can you go to multiple lenders at the same time

1793
01:40:07,360 --> 01:40:10,320
Speaker 2: run your credit get three different pre approvals? Absolutely, But

1794
01:40:10,320 --> 01:40:12,599
Speaker 2: if you got the home Buyers Blueprint at your disposal,

1795
01:40:12,680 --> 01:40:13,280
Speaker 2: you don't need that.

1796
01:40:13,840 --> 01:40:16,160
Speaker 10: You don't really need that, Okay, perfect. I am an

1797
01:40:16,200 --> 01:40:19,559
Speaker 10: e y L member, So I'm gonna go ahead and

1798
01:40:19,600 --> 01:40:22,120
Speaker 10: get in there and take another look at that.

1799
01:40:22,600 --> 01:40:26,479
Speaker 2: Take advantage, take advantage. We got wet, we got the

1800
01:40:26,520 --> 01:40:29,639
Speaker 2: assessments after every chapter. You're gonna be able to test

1801
01:40:29,680 --> 01:40:32,920
Speaker 2: your knowledge base, and and then you got MG. You

1802
01:40:32,960 --> 01:40:35,519
Speaker 2: can always hit me up too, because I respond to

1803
01:40:35,560 --> 01:40:38,679
Speaker 2: the earnest every day all day. That is so true,

1804
01:40:39,120 --> 01:40:42,680
Speaker 2: that priceless, that's price, that's perfect. I could charge all

1805
01:40:42,720 --> 01:40:46,680
Speaker 2: twenty bands for that. I ain't gonna hold y' all up.

1806
01:40:47,960 --> 01:40:50,160
Speaker 10: I hear that, Thank you so much. I have one

1807
01:40:50,160 --> 01:40:54,280
Speaker 10: more question, real quick guidelines, just real quick. So can

1808
01:40:54,320 --> 01:40:56,920
Speaker 10: you do an f H I think you answered that already.

1809
01:40:56,960 --> 01:40:59,360
Speaker 10: You could do an FAH a loan on a multi property,

1810
01:41:00,240 --> 01:41:05,559
Speaker 10: on a multi unit property. But here in here in

1811
01:41:05,600 --> 01:41:10,560
Speaker 10: Brooklyn and New York City, like everything is so expensive

1812
01:41:11,000 --> 01:41:16,960
Speaker 10: right now? What happens if can I don't know if

1813
01:41:16,960 --> 01:41:21,000
Speaker 10: we have like the Albany the banks where you can

1814
01:41:21,120 --> 01:41:23,960
Speaker 10: kind of get houses that are on foreclosure and whatnot.

1815
01:41:24,040 --> 01:41:26,679
Speaker 10: But can you use an FHA loan towards a multi

1816
01:41:26,720 --> 01:41:29,479
Speaker 10: property that might be on foreclosure lists?

1817
01:41:30,240 --> 01:41:33,839
Speaker 2: Absolutely right, you can buy. You can use an FHA

1818
01:41:33,920 --> 01:41:37,080
Speaker 2: loan for a burntdown bando building and get the money

1819
01:41:37,120 --> 01:41:41,160
Speaker 2: to repair it. Noted, you can get one hundred percent

1820
01:41:41,200 --> 01:41:44,120
Speaker 2: of your rehab cost. You can put down as little

1821
01:41:44,120 --> 01:41:46,920
Speaker 2: as three point five percent down. You can buy a

1822
01:41:47,000 --> 01:41:51,160
Speaker 2: burntdown band do and use an FHA two or three K,

1823
01:41:51,360 --> 01:41:53,800
Speaker 2: and you have access to the homebase buullprint volume, to

1824
01:41:53,880 --> 01:41:58,360
Speaker 2: the rehab pack that teaches you all of that too, right, huh?

1825
01:41:58,760 --> 01:41:59,919
Speaker 3: Trapping out the bend.

1826
01:41:59,680 --> 01:42:04,519
Speaker 2: Though, trapping out the bando in my ashad voice, the

1827
01:42:04,600 --> 01:42:06,920
Speaker 2: two or three K will help you trap out the bando.

1828
01:42:07,280 --> 01:42:11,919
Speaker 2: And this is the perfect tool for anybody, for especially

1829
01:42:12,479 --> 01:42:16,360
Speaker 2: first timers who are looking to become real estate investors.

1830
01:42:16,680 --> 01:42:19,320
Speaker 2: The two or three K gives you that training wheels

1831
01:42:19,320 --> 01:42:21,800
Speaker 2: because you have what's called the HUT consultant. That HUT

1832
01:42:21,880 --> 01:42:26,120
Speaker 2: consultant acts like a construction project manager, and that person

1833
01:42:26,240 --> 01:42:30,439
Speaker 2: is there to protect you and the bank from the contractors.

1834
01:42:30,479 --> 01:42:34,720
Speaker 2: See your in tractors con artist tractors. Right. So it's

1835
01:42:34,760 --> 01:42:38,360
Speaker 2: a perfect tool to use, and I highly advise if

1836
01:42:38,400 --> 01:42:42,720
Speaker 2: you want to go that route foreclosure short sells react

1837
01:42:43,040 --> 01:42:45,080
Speaker 2: use that two or three K for you advantage, especially

1838
01:42:45,120 --> 01:42:47,479
Speaker 2: in a high court state like New York where it

1839
01:42:47,600 --> 01:42:51,320
Speaker 2: is so expensive here to buy multifamilies, you have to

1840
01:42:51,360 --> 01:42:55,400
Speaker 2: find that rundown piece of crap house. But no, the

1841
01:42:55,400 --> 01:42:57,640
Speaker 2: two or three K is there to help you, and

1842
01:42:57,680 --> 01:43:00,920
Speaker 2: it's included in your membership. Take advantage, all.

1843
01:43:00,920 --> 01:43:05,439
Speaker 10: Right, Thank you so so much, Thank you Ashley, no problem.

1844
01:43:05,720 --> 01:43:09,320
Speaker 2: Actually, shout out to you with the black money from too.

1845
01:43:09,400 --> 01:43:10,200
Speaker 2: That was a great time.

1846
01:43:10,920 --> 01:43:13,240
Speaker 5: Shout out to two. Shout out to my god too.

1847
01:43:13,360 --> 01:43:17,000
Speaker 5: Look man, the Home Buyer Blueprint Volume one is worth

1848
01:43:17,080 --> 01:43:20,559
Speaker 5: at least a thousand dollars minimum. Vayume one and Volume

1849
01:43:20,600 --> 01:43:24,519
Speaker 5: two at least twenty five hundred dollars. So when I'm

1850
01:43:24,640 --> 01:43:28,200
Speaker 5: talking about Vayume one and Volume two added bundle together

1851
01:43:28,800 --> 01:43:31,840
Speaker 5: with everything else that's in Eyo University, which we go

1852
01:43:31,960 --> 01:43:33,960
Speaker 5: but and you get to ask questions for market, mondays,

1853
01:43:34,200 --> 01:43:35,160
Speaker 5: that's that's the number one.

1854
01:43:35,160 --> 01:43:36,280
Speaker 3: How do you get to ak Zoom questions?

1855
01:43:36,280 --> 01:43:40,040
Speaker 5: You gotta be in Eyde University for five hundred dollars

1856
01:43:40,080 --> 01:43:40,479
Speaker 5: for a year.

1857
01:43:41,160 --> 01:43:43,720
Speaker 3: It's never going to happen again, I promise you. I

1858
01:43:43,800 --> 01:43:44,800
Speaker 3: promise you It's never to happen.

1859
01:43:45,000 --> 01:43:47,160
Speaker 4: They corrected you. They said this is even lower than

1860
01:43:47,280 --> 01:43:47,920
Speaker 4: Black Product.

1861
01:43:47,960 --> 01:43:49,240
Speaker 3: What was Black fridayt They said it.

1862
01:43:49,200 --> 01:43:51,879
Speaker 2: Was I think it was six right.

1863
01:43:54,120 --> 01:43:58,080
Speaker 5: Lower sale evidence lower than Black priduct for ninety nine

1864
01:43:58,800 --> 01:44:02,680
Speaker 5: entire year US bootprint Volume one, Volume two, access to

1865
01:44:02,720 --> 01:44:06,720
Speaker 5: the Facebook group, access to the Infinity Clubs, access to

1866
01:44:07,000 --> 01:44:09,880
Speaker 5: my monthly financial planning calls, access to the movie club

1867
01:44:09,920 --> 01:44:12,880
Speaker 5: and the book club. Access to the weekly classes that

1868
01:44:12,920 --> 01:44:15,360
Speaker 5: we have on Zoom every single Wednesday at eight o'clock.

1869
01:44:15,479 --> 01:44:19,959
Speaker 5: Access to the weekly investment classes toward by Chris.

1870
01:44:21,479 --> 01:44:25,120
Speaker 2: Access to my monthly calls. Mm hm, those things, those

1871
01:44:25,160 --> 01:44:26,920
Speaker 2: things going for three hours.

1872
01:44:26,600 --> 01:44:28,720
Speaker 3: And we got an in person experience that we go

1873
01:44:29,360 --> 01:44:35,519
Speaker 3: crafting in person experience that's coming coming soon exclusive for

1874
01:44:35,560 --> 01:44:37,040
Speaker 3: EYO University members.

1875
01:44:38,240 --> 01:44:40,400
Speaker 2: Oh wait till they get that one. Oh my lord,

1876
01:44:42,560 --> 01:44:45,240
Speaker 2: if y'all don't join now just because of out of it,

1877
01:44:45,720 --> 01:44:48,000
Speaker 2: y'all see INVESTMENTST. Hold on, let me talk some shit

1878
01:44:48,040 --> 01:44:49,800
Speaker 2: real quick. Y'all see INVESTMENTST.

1879
01:44:51,240 --> 01:44:55,160
Speaker 3: And that's fast. It's going to be the biggest ever ever.

1880
01:44:55,640 --> 01:44:57,479
Speaker 2: Imagine what we do for this for the.

1881
01:44:57,479 --> 01:45:02,280
Speaker 5: Earners INVESTMENTST Investments dot com Man. When you when you

1882
01:45:02,280 --> 01:45:05,479
Speaker 5: could put the mortgage guy in nineteen keys, Ian Dunlap,

1883
01:45:05,600 --> 01:45:12,000
Speaker 5: Wall Street Trapper, Aristotle Investments, Chris Johnson, Donald Watson, Milano

1884
01:45:13,360 --> 01:45:18,040
Speaker 5: in uh DJ Envy Caesar, when you could put them,

1885
01:45:18,160 --> 01:45:22,960
Speaker 5: and then you add Steve Harvey, You add Charlamagne the God,

1886
01:45:23,560 --> 01:45:27,639
Speaker 5: You add Rick Ross, you add Circle of CEOs, all

1887
01:45:27,640 --> 01:45:31,960
Speaker 5: of them. Yeah, you add t I P. You had

1888
01:45:32,000 --> 01:45:35,959
Speaker 5: Kenny Burns, we had Terrence J. You add Eric Thomas,

1889
01:45:36,000 --> 01:45:39,520
Speaker 5: the number one motivational speaker in the world, Terry.

1890
01:45:39,840 --> 01:45:42,719
Speaker 3: I don't forget that Terry doing that thing.

1891
01:45:42,840 --> 01:45:43,679
Speaker 2: Trade and travel.

1892
01:45:45,280 --> 01:45:47,080
Speaker 4: And you don't even mentioned Dan Keathy.

1893
01:45:47,840 --> 01:45:52,160
Speaker 5: Oh my, that's that's Sky's worth seven billion dollars. He's

1894
01:45:52,200 --> 01:45:56,519
Speaker 5: the former CEO of Chick fil At, David Shan's Sleepers

1895
01:45:56,520 --> 01:45:58,320
Speaker 5: for Suckers Ash Cash.

1896
01:45:59,080 --> 01:46:00,720
Speaker 4: Is this it to say that Cathy will not be

1897
01:46:00,720 --> 01:46:02,120
Speaker 4: the only billionaire in attendance?

1898
01:46:03,640 --> 01:46:08,559
Speaker 2: Stay tuned, Stay tuned, Stay tuned.

1899
01:46:10,120 --> 01:46:13,599
Speaker 3: It's your fr P ticket, it's your fr ticket. It's

1900
01:46:13,640 --> 01:46:15,759
Speaker 3: not fit to fight. That's the dune.

1901
01:46:15,920 --> 01:46:19,160
Speaker 5: MG, not fear what we what we're doing is not fair.

1902
01:46:19,400 --> 01:46:23,439
Speaker 5: It's a missile strike. It's as we have a missile strike,

1903
01:46:23,560 --> 01:46:27,360
Speaker 5: and we got we got a basement full of unreleased

1904
01:46:27,520 --> 01:46:28,479
Speaker 5: nuclear bombs.

1905
01:46:28,560 --> 01:46:30,520
Speaker 3: We got a basement.

1906
01:46:30,160 --> 01:46:35,000
Speaker 2: For y'all when our second wave come out, it's gonna

1907
01:46:35,040 --> 01:46:35,400
Speaker 2: be over.

1908
01:46:36,320 --> 01:46:39,240
Speaker 3: We got a basement of what Step said.

1909
01:46:41,720 --> 01:46:44,240
Speaker 2: That second wave gonna hit you out like a title wave,

1910
01:46:44,439 --> 01:46:47,880
Speaker 2: a tsunami. I'm trying to tell y'all, man, I can't

1911
01:46:47,920 --> 01:46:48,800
Speaker 2: wait to we announce it.

1912
01:46:50,040 --> 01:46:54,840
Speaker 5: Wow, best fast man, y'all need to be in man,

1913
01:46:55,640 --> 01:46:56,519
Speaker 5: there's gonna be a whole.

1914
01:46:56,360 --> 01:46:57,280
Speaker 3: Weekend of experience.

1915
01:46:57,400 --> 01:47:00,320
Speaker 5: Is gonna have the official after party shots my brother

1916
01:47:00,400 --> 01:47:02,160
Speaker 5: Smitty and that's.

1917
01:47:04,640 --> 01:47:06,439
Speaker 3: Man. I don't want to give it.

1918
01:47:06,400 --> 01:47:08,400
Speaker 2: A comparison, but there's none.

1919
01:47:08,920 --> 01:47:11,479
Speaker 5: Every year it's gonna get bigger and bigger, and it's

1920
01:47:11,479 --> 01:47:15,720
Speaker 5: gonna the city of Atlanta. I need to actually at

1921
01:47:15,720 --> 01:47:18,800
Speaker 5: this point, Atlanta, we need to we need to be

1922
01:47:18,920 --> 01:47:22,759
Speaker 5: compensated from the city because we raised the ticket prices

1923
01:47:22,840 --> 01:47:23,320
Speaker 5: last year.

1924
01:47:23,680 --> 01:47:24,920
Speaker 3: My ball was shout out to Bubbles.

1925
01:47:24,920 --> 01:47:27,760
Speaker 5: He was coming from New York and last minute flight

1926
01:47:27,960 --> 01:47:29,639
Speaker 5: and he was like, why is the flight's eight hundred

1927
01:47:29,680 --> 01:47:32,240
Speaker 5: dollars to Atlanta. It's like two hundred dollars flight. And

1928
01:47:32,280 --> 01:47:34,360
Speaker 5: he called the airlines and it was like, we're seeing

1929
01:47:34,400 --> 01:47:36,360
Speaker 5: an uptake for some reason. I don't know what's going on,

1930
01:47:36,400 --> 01:47:38,559
Speaker 5: but we're seeing an uptick and travel from New York.

1931
01:47:39,000 --> 01:47:41,880
Speaker 3: We we we raised the ticket prices last year. That's

1932
01:47:41,880 --> 01:47:42,360
Speaker 3: a fact.

1933
01:47:42,960 --> 01:47:48,599
Speaker 5: We are responsible for raising ticket prices, like we caused

1934
01:47:48,600 --> 01:47:50,639
Speaker 5: the inflation in the marketplace in Atlanta.

1935
01:47:54,800 --> 01:47:57,680
Speaker 3: At l man, let's have a conversation.

1936
01:48:00,240 --> 01:48:00,800
Speaker 2: Hit up the mayor.

1937
01:48:01,160 --> 01:48:02,640
Speaker 3: We could take this on it. We could take this

1938
01:48:02,760 --> 01:48:03,479
Speaker 3: to another city.

1939
01:48:03,920 --> 01:48:05,679
Speaker 4: This is true.

1940
01:48:05,920 --> 01:48:07,200
Speaker 3: We could take this to another city.

1941
01:48:07,200 --> 01:48:11,720
Speaker 5: We gotta look at the ticket prices for planes, for hotels, restaurants,

1942
01:48:11,840 --> 01:48:13,200
Speaker 5: hookah lounges.

1943
01:48:13,280 --> 01:48:15,559
Speaker 2: Gentlemen clubs, forget about it.

1944
01:48:15,760 --> 01:48:19,519
Speaker 3: Everything goes up that weekend, everything up that weekend.

1945
01:48:20,000 --> 01:48:22,120
Speaker 2: You know, it's gonna go out that VI I P

1946
01:48:22,360 --> 01:48:24,040
Speaker 2: VI P then on that Thursday.

1947
01:48:25,760 --> 01:48:27,120
Speaker 3: That's that's.

1948
01:48:34,400 --> 01:48:39,760
Speaker 5: It's about having fun. We can't forget my Hoday Caseo vintage.

1949
01:48:43,680 --> 01:48:45,679
Speaker 5: I've become a fashion these days.

1950
01:48:46,680 --> 01:48:48,720
Speaker 2: Shotti is or not. I ain't gonna hold you, bro.

1951
01:48:49,200 --> 01:48:51,599
Speaker 2: I saw the Caseo earlier in the video. I saw

1952
01:48:52,120 --> 01:48:53,240
Speaker 2: trying to kill him early.

1953
01:48:54,160 --> 01:48:58,479
Speaker 5: You got it, race. You can't run from who you are.

1954
01:49:00,400 --> 01:49:03,040
Speaker 5: It's not I always did fashion my whole life, so

1955
01:49:03,320 --> 01:49:04,400
Speaker 5: this would only make sense.

1956
01:49:04,439 --> 01:49:08,479
Speaker 3: The next move. Wait till the next move that you see.

1957
01:49:11,520 --> 01:49:22,040
Speaker 7: It's called bigger, Yeah, bigger, respectfully, man, you gotta have

1958
01:49:22,080 --> 01:49:22,680
Speaker 7: fun with it, man.

1959
01:49:22,680 --> 01:49:24,800
Speaker 3: If you're not having fun, life is too short not

1960
01:49:24,880 --> 01:49:27,400
Speaker 3: to have fun. Man. That's why we do this edutainment.

1961
01:49:27,439 --> 01:49:27,960
Speaker 3: We missed.

1962
01:49:28,120 --> 01:49:30,960
Speaker 5: We mix education with entertainment and we put it in

1963
01:49:31,000 --> 01:49:33,200
Speaker 5: a blender and we just have fun.

1964
01:49:33,200 --> 01:49:33,400
Speaker 4: Man.

1965
01:49:33,439 --> 01:49:34,200
Speaker 3: That's what it's about.

1966
01:49:34,800 --> 01:49:38,720
Speaker 4: Yeah, that's all, you know. That's it.

1967
01:49:38,800 --> 01:49:41,960
Speaker 5: Don't take yourself too seriously. Gotta have fun with it.

1968
01:49:42,320 --> 01:49:45,680
Speaker 5: Got to educate people. You gotta make money, and you

1969
01:49:45,680 --> 01:49:47,040
Speaker 5: gotta stay fresh at all times.

1970
01:49:47,400 --> 01:49:48,559
Speaker 3: That's very very important.

1971
01:49:49,080 --> 01:49:54,200
Speaker 2: Responsibility, very important. Yes, it's the way.

1972
01:49:55,080 --> 01:49:56,960
Speaker 3: You quick guy.

1973
01:49:58,920 --> 01:49:59,120
Speaker 16: I know.

1974
01:49:59,200 --> 01:50:00,599
Speaker 4: Our demonstration get.

1975
01:50:00,439 --> 01:50:05,519
Speaker 5: Fresher that client. So I say that to say Eyo University.

1976
01:50:05,560 --> 01:50:09,080
Speaker 5: If you're not Eyo University, you gotta question things. You

1977
01:50:09,120 --> 01:50:11,000
Speaker 5: gotta sit down and start to question things in your

1978
01:50:11,040 --> 01:50:14,400
Speaker 5: life four ninety nine. Nobody else is doing that, not

1979
01:50:14,520 --> 01:50:16,400
Speaker 5: one person, nobody.

1980
01:50:16,479 --> 01:50:20,360
Speaker 2: I'm gonna be honest with you. This price point is disrespectful. Yes,

1981
01:50:20,800 --> 01:50:23,000
Speaker 2: for the amount of value that people get for this

1982
01:50:23,360 --> 01:50:28,400
Speaker 2: dollar amount, Like, we give more value than I think anybody.

1983
01:50:28,479 --> 01:50:32,120
Speaker 2: I'm not gonna hold you up out of it. Let

1984
01:50:32,200 --> 01:50:34,920
Speaker 2: me take a matter of fact, we give more value

1985
01:50:34,960 --> 01:50:37,719
Speaker 2: than anybody for the price points. This is the most

1986
01:50:37,760 --> 01:50:44,280
Speaker 2: affordable educational platform in the marketplace for less than a

1987
01:50:44,400 --> 01:50:45,799
Speaker 2: night at Pasha's in Atlanta.

1988
01:50:47,160 --> 01:50:51,639
Speaker 17: Funny you say that, you know what demonstration I'm trying

1989
01:50:51,640 --> 01:50:54,720
Speaker 17: to tell you, Like you go out with your home,

1990
01:50:54,920 --> 01:50:57,760
Speaker 17: you go to chop House, Time Square, You're gonna spend

1991
01:50:57,880 --> 01:50:59,560
Speaker 17: triple that with your friends.

1992
01:50:59,479 --> 01:51:02,880
Speaker 3: At least at least you're gonna have to go for

1993
01:51:02,920 --> 01:51:05,799
Speaker 3: eighteen hundred dollars at shop house House last weekend.

1994
01:51:06,320 --> 01:51:11,200
Speaker 2: Glad I was sick. I don't miss those bills. Those

1995
01:51:11,240 --> 01:51:13,400
Speaker 2: bills they come up, but you would think about it,

1996
01:51:13,439 --> 01:51:17,759
Speaker 2: that's one night of just enjoying with the family and friends.

1997
01:51:18,880 --> 01:51:22,519
Speaker 2: You can get three people. You can get two people

1998
01:51:23,000 --> 01:51:25,839
Speaker 2: at E y l U and a couple of tickets

1999
01:51:25,840 --> 01:51:27,759
Speaker 2: for a vest Fest for that same price.

2000
01:51:28,840 --> 01:51:29,280
Speaker 3: True.

2001
01:51:29,840 --> 01:51:33,679
Speaker 2: Yes, priorities, priority is important.

2002
01:51:34,120 --> 01:51:38,080
Speaker 5: Train rolls along by own university is investing yourself. Biggest

2003
01:51:38,120 --> 01:51:40,600
Speaker 5: investment you can make invest Fest.

2004
01:51:41,479 --> 01:51:41,960
Speaker 3: And we will.

2005
01:51:42,000 --> 01:51:42,599
Speaker 4: We will be there.

2006
01:51:43,000 --> 01:51:46,880
Speaker 5: So it's called stay tuned. I encourage you every every

2007
01:51:46,880 --> 01:51:49,360
Speaker 5: time we do something, we do it big. We went

2008
01:51:49,400 --> 01:51:52,360
Speaker 5: to our bossle, we had DJ Callet, we had Sean

2009
01:51:53,360 --> 01:51:56,000
Speaker 5: Sean Poe, like that's Shan Poe.

2010
01:51:57,479 --> 01:52:05,680
Speaker 6: I ain't want the phone calls today.

2011
01:52:03,000 --> 01:52:08,799
Speaker 2: Man, y'all gonna see soon enough. Man, y'all can't see.

2012
01:52:08,600 --> 01:52:11,160
Speaker 4: Soon enoughs today alone.

2013
01:52:12,120 --> 01:52:14,400
Speaker 2: Look y'all gonna see soon enough. When Shoty hit me

2014
01:52:14,439 --> 01:52:16,880
Speaker 2: with the call today, I said, oh really we got

2015
01:52:16,880 --> 01:52:19,760
Speaker 2: a call after that? Oh really.

2016
01:52:21,400 --> 01:52:22,000
Speaker 4: After this match.

2017
01:52:22,000 --> 01:52:24,679
Speaker 2: See look, guys, this is real time. I'm not even

2018
01:52:24,760 --> 01:52:27,840
Speaker 2: upten on the other call that happened yet because they've

2019
01:52:27,880 --> 01:52:30,360
Speaker 2: been moving to shake and I've been moving and shaken, right,

2020
01:52:30,800 --> 01:52:33,400
Speaker 2: But the call Shotty already hit me with it was like,

2021
01:52:33,600 --> 01:52:35,639
Speaker 2: oh I had to look at my phone, like.

2022
01:52:36,000 --> 01:52:43,479
Speaker 17: Damn, still in the meeting, still they call it the.

2023
01:52:43,439 --> 01:52:47,200
Speaker 2: Biggest for a reason at far.

2024
01:52:49,200 --> 01:52:52,080
Speaker 9: Yeah, the best part is that the people here, they're

2025
01:52:52,080 --> 01:52:53,960
Speaker 9: gonna get to enjoy it. And we tell y'all first

2026
01:52:53,960 --> 01:52:56,240
Speaker 9: hand because every time we talk like this, I know

2027
01:52:56,240 --> 01:52:58,120
Speaker 9: we're saying in a jest, but we're really serious, like

2028
01:52:59,000 --> 01:53:01,080
Speaker 9: what we're about to do it has never been done,

2029
01:53:01,280 --> 01:53:02,920
Speaker 9: and we're glad that our community is gonna be there

2030
01:53:02,920 --> 01:53:04,320
Speaker 9: to celebrate it with us, because it's a win for

2031
01:53:04,360 --> 01:53:04,760
Speaker 9: all of us.

2032
01:53:05,120 --> 01:53:07,320
Speaker 4: It's a win for the space, it's a win for

2033
01:53:07,360 --> 01:53:08,639
Speaker 4: the community, it's.

2034
01:53:08,520 --> 01:53:10,560
Speaker 9: A win for the world really because financial literacy, like

2035
01:53:10,600 --> 01:53:12,800
Speaker 9: I said, is a world topic and we you know,

2036
01:53:12,920 --> 01:53:14,720
Speaker 9: we we're fortunate to be at the forefront of it,

2037
01:53:14,800 --> 01:53:16,599
Speaker 9: and we take that very seriously.

2038
01:53:16,920 --> 01:53:20,000
Speaker 3: Well, we do it with fun, so you gotta gotta

2039
01:53:20,000 --> 01:53:20,400
Speaker 3: have fun.

2040
01:53:20,680 --> 01:53:23,559
Speaker 5: But we thank you, guys, Thank you for joining us

2041
01:53:23,760 --> 01:53:26,759
Speaker 5: as always, Thank you for rapping with us. More information

2042
01:53:26,840 --> 01:53:30,000
Speaker 5: every single day. Don't stop, more information every single day.

2043
01:53:31,200 --> 01:53:35,040
Speaker 5: Just keep spreading the word. Subscribe, Watch Rants and Gyms

2044
01:53:35,240 --> 01:53:38,000
Speaker 5: every single Wednesday. Watch Earni Legion every Tuesday, Watch Market

2045
01:53:38,080 --> 01:53:41,479
Speaker 5: Mondays and every Monday. Watch Inside the vaulte Inside the

2046
01:53:41,560 --> 01:53:45,800
Speaker 5: Vote every Thursday. High level conversations whenever The nineteen Keys

2047
01:53:45,840 --> 01:53:46,839
Speaker 5: decides to put episodes.

2048
01:53:47,240 --> 01:53:51,719
Speaker 3: We got trapped Saturday. But yeah, this Saturday trap.

2049
01:53:51,760 --> 01:53:55,240
Speaker 4: I spoke to him. Today's birthdays coming up, so happy birthday.

2050
01:53:54,960 --> 01:53:55,360
Speaker 3: To my brother.

2051
01:53:55,760 --> 01:53:57,479
Speaker 2: Shout out the big trap. Make sure y'all watch that.

2052
01:53:57,520 --> 01:53:59,639
Speaker 2: We just dropped the ransom jams with Jose to credit

2053
01:53:59,760 --> 01:54:03,040
Speaker 2: due talking about that business credit in real estate. Man,

2054
01:54:03,120 --> 01:54:05,559
Speaker 2: So go ahead after this, go watch that. It's a

2055
01:54:05,600 --> 01:54:08,879
Speaker 2: phenomenal episode. So shout out to Jose. He's a certified

2056
01:54:08,920 --> 01:54:10,080
Speaker 2: cham Sure.

2057
01:54:10,360 --> 01:54:18,599
Speaker 18: Matt breaking loose Alric. We gotta go, y'all, y'all, peace,

2058
01:54:18,880 --> 01:54:23,280
Speaker 18: I gotta go. I'm Tom, y'all, y paar me your phone.

2059
01:54:23,280 --> 01:54:25,599
Speaker 18: You're rocking with the biggest right now.

2060
01:54:25,680 --> 01:54:28,680
Speaker 16: Eyl University forty eight hour flash sale. Don't miss it.

2061
01:54:28,720 --> 01:54:31,519
Speaker 16: Go to euyuniversity dot com. The night wait until you

2062
01:54:31,560 --> 01:54:35,080
Speaker 16: see what we got to do is call Please don't

2063
01:54:35,120 --> 01:54:36,520
Speaker 16: play yourself.

2064
01:54:39,560 --> 01:54:41,800
Speaker 4: Yo. Congratulations, y'all have a good night.

2065
01:54:43,160 --> 01:54:44,880
Speaker 3: It depends day if you celebrate.

2066
01:54:44,520 --> 01:54:44,920
Speaker 4: That all that.

2067
01:54:45,320 --> 01:54:48,480
Speaker 18: Oh my Matt, pick up your phone please, y'all right now,

2068
01:54:48,800 --> 01:54:49,400
Speaker 18: get right up.

2069
01:54:50,320 --> 01:54:54,000
Speaker 1: An illegal alien from Guatemala charged with raping a child

2070
01:54:54,040 --> 01:54:57,840
Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador,

2071
01:54:58,080 --> 01:55:02,720
Speaker 1: accused of murdering a Texas of Venezuelan charged with filming

2072
01:55:02,760 --> 01:55:06,560
Speaker 1: and selling child pornography in Michigan. These are just some

2073
01:55:06,680 --> 01:55:10,520
Speaker 1: of the heinous migrant criminals caught because of President Donald J.

2074
01:55:10,600 --> 01:55:11,560
Speaker 10: Trump's leadership.

2075
01:55:11,840 --> 01:55:15,440
Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.

2076
01:55:15,760 --> 01:55:19,520
Speaker 1: Under President Trump, attempted illegal border crossings are at the

2077
01:55:19,560 --> 01:55:24,360
Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal aliens.

2078
01:55:23,920 --> 01:55:24,760
Speaker 14: Have been arrested.

2079
01:55:25,040 --> 01:55:28,600
Speaker 1: If you are here illegally, your next you will be

2080
01:55:28,640 --> 01:55:32,520
Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.

2081
01:55:32,960 --> 01:55:36,200
Speaker 1: You will never return. But if you register using our

2082
01:55:36,240 --> 01:55:39,440
Speaker 1: CBP home app and leave now, you could be allowed

2083
01:55:39,480 --> 01:55:44,440
Speaker 1: to return legally. Do what's right. Leave now. Under President Trump,

2084
01:55:44,600 --> 01:55:48,160
Speaker 1: America's laws, border and families will be protected.

2085
01:55:48,280 --> 01:55:50,400
Speaker 2: Sponsored by the United States Department of Homeland Security.