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Speaker 1: Coach, the energy out there felt different. What changed for

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Speaker 1: the team today?

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Speaker 2: It was the new game day scratches from the California Lottery.

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Speaker 3: Player is everything. Those games sent the team's energy through

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Speaker 3: the roof.

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Speaker 1: Are you saying it was the off field play that

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Speaker 1: made the difference on the field.

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Speaker 3: Hey, little play makes your day, and today it made

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Speaker 3: the game. That's all for now, Coach, one more question.

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Speaker 1: Play the new Los Angeles Chargers, San Francisco forty nine

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Speaker 1: Ers and Los Angeles Rams scratchers from the California Lottery.

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Speaker 1: A little play can make your day. Peace made responsibily.

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Speaker 1: Must be eighteen years or older to purchase late or claim.

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Speaker 3: All right, guys, Welcome back. Welcome Back Episode twenty uy

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Speaker 3: EL twenty twenty weeks in the books. Man, this is monumental.

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Speaker 3: This is a very very special day for us. So

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Speaker 3: first of all, before we start, we got to thank

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Speaker 3: you God for your support. To grow this fast in

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Speaker 3: twenty weeks is crazy.

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Speaker 4: And the growth continues. It's amazing. We ran into some

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Speaker 4: people randomly and telling the stops we make and the

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Speaker 4: love has been amazing. Support has been amazing, The feedback

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Speaker 4: has been great. He would just want to talk to

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Speaker 4: us about the podcast.

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Speaker 3: So thank you. This is we're not going out. You

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Speaker 3: like that. We can't say anything better than that. Yeah,

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Speaker 3: that's a fact. That's a fact. So we goes jump

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Speaker 3: right into we got a very special guest today, so

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Speaker 3: I'll give the delayout. So obviously real estate is very

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Speaker 3: important in building wealth. So this is an educational show

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Speaker 3: on finance, and you can't have education finance without talking

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Speaker 3: about real estate, right, So we have Fernando Fernandez with

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Speaker 3: us today, So I'll tell you who Fernando is. So

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Speaker 3: if anybody's not familiar, DJ and me is heavy in

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Speaker 3: real estate right now. Right, he does towards like all

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Speaker 3: around the country. So the guy that got him involved

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Speaker 3: in really state his name is Caesar, and he's real

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Speaker 3: big in Jersey as far. I think he had like

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Speaker 3: six hundred units that he owns, so he kind of

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Speaker 3: got envy into real estate investing. So now they teamed up.

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Speaker 3: So Caesar's best friend is Fernando, and Fernando is also

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Speaker 3: really big in Jersey. He has two hundred units in Jersey.

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Speaker 3: So he has two hundred units in Jersey, which roughly

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Speaker 3: estimates to around twenty five million dollars together. But the

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Speaker 3: reason why I liked the story, and I told him

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Speaker 3: that over the phone, is that, you know, a lot

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Speaker 3: of times people see celebrities like he did an MVY

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Speaker 3: and they and there's no disrespect, but they they look

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Speaker 3: at them and they're like, Okay, well you already had

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Speaker 3: a leg up, right, So I can't do that because

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Speaker 3: I didn't start with money, or I look at basketball

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Speaker 3: player or football player. But the reason why I like

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Speaker 3: Fernando is that he started from the bottom, right, So

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Speaker 3: it's like his story is very relatable, and tell the story.

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Speaker 3: It's very relatable, and in a short period of time,

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Speaker 3: in the grand scheme of things, he's been able to

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Speaker 3: a mass a very very impressive portfolio of real estate

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Speaker 3: on any level, not like on our community level, on

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Speaker 3: any level, right, two hundred units is impressive on any level, right,

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Speaker 3: There's not too many people in the world that have

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Speaker 3: that type of portfolio. So to amass that in a

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Speaker 3: period of ten years, twelve years is extremely impressive, especially

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Speaker 3: not coming from you know, wealth, not coming from a

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Speaker 3: background of real estate and really starting it, you know,

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Speaker 3: on the ground level and making mistakes and learning and

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Speaker 3: things that. So yeah, so first and almost thank you,

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Speaker 3: thank you, for joining us, Thank you for thank you

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Speaker 3: for having me.

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Speaker 5: Can you tell you an introduction to the.

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Speaker 3: Definitely Got a Down podcast?

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Speaker 6: Right?

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Speaker 3: Graduate? Right? So all right, so can you tell the

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Speaker 3: people because I heard your story the other day and

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Speaker 3: you know, as far as like being like a fifth

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Speaker 3: year senior in college with like ninety credits and all that.

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Speaker 3: Oh so yeah, how do you Okay? So how do

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Speaker 3: you go from humble beginning getting kicked out of school

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Speaker 3: pretty much because you didn't have enough financial aid I believe,

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Speaker 3: to having two hundred union Like, how did that happen?

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Speaker 3: It was never my intention to have two hundred units.

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Speaker 5: I mean it's remember one day speaking on season, he

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Speaker 5: telling me like, Yo, I'm at this guy he's in Pasig, man,

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Speaker 5: he has two hundred and fifty units.

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Speaker 3: I was like, holy, two hundred and fifty units man.

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Speaker 3: I was like, Yo, that's like quarter of a million

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Speaker 3: dollars a month. It's because like they in run, It's

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Speaker 3: crazy that time is like my mind.

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Speaker 5: I'm thinking, like we're both like, yo, we could imagine

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Speaker 5: we made five thousand dollars a month. You know, take

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Speaker 5: that plus you to have your little career and making

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Speaker 5: like another seventy five put that together, it's like, you.

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Speaker 3: Know, you're making decent money.

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Speaker 7: So two hundred units wasn't the intention.

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Speaker 3: You know.

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Speaker 5: My my initial attention was get a four family house,

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Speaker 5: then get the three family house, then get the two

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Speaker 5: family house. With those three right there, that'll pay the

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Speaker 5: mortgage for the one family house. Yeah, so really think

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Speaker 5: about it. Most people spend about fifty percent of their

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Speaker 5: money on their mortgage, so I was like, hey, if

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Speaker 5: I get that covers, that's that's like a big thing.

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Speaker 3: So that was the initial intention.

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Speaker 5: But once I got getting really into the villa state

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Speaker 5: and deep into it, getting to know like other people

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Speaker 5: who weren't investors, like your mind starts changing and like

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Speaker 5: start changing up.

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Speaker 3: So slowly, you know. I ended up going from one.

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Speaker 5: Property, I got my second property, my third, and started

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Speaker 5: getting multiple properties at the same time.

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Speaker 3: So I mean, that's really impressive. And it names Lord

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Speaker 3: of the Slums, right, it's the ord Landlord of Patterson,

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Speaker 3: So lord of the Slums. Yeah. Two thousand and four, Right,

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Speaker 3: I looked at your vision board and it was.

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Speaker 2: I was like, hey, there's nothing name on the vision board, right,

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Speaker 2: he hasn't accumulated anything yet.

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Speaker 3: Two thousand and five, it's the same two thousand.

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Speaker 2: And six all the way up to twenty eleven. That's

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Speaker 2: when you get your first property. So what's the process?

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Speaker 2: During that time, right, we all were like, you know what,

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Speaker 2: this really isn't for me downt yourself, Like what's the process?

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Speaker 3: What's people out?

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Speaker 7: The process was not giving up, you know, and I

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Speaker 7: keep that that vision.

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Speaker 5: Boy, it was like I purposely did that because get

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Speaker 5: a lot of family and friends. You know, they want

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Speaker 5: to come down, sit down with me, and you know,

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Speaker 5: so I could kind of like give them some advice

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Speaker 5: and obviously they know where I'm at right now, so

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Speaker 5: there's always what do I have to do to do

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Speaker 5: what you're doing? So and it's like nobody wants to

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Speaker 5: you know, not that they don't want to put it

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Speaker 5: into work, but it's kind of like they forget the

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Speaker 5: work that was involved.

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Speaker 7: And it's like the patients too, So it's like it's.

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Speaker 5: Almost like, you know, you can't just jump in and

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Speaker 5: think that right away you're gonna do a complete dumb

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Speaker 5: renovation on the house where you're gonna build a house

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Speaker 5: on the ground up, like right away with having no experience.

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Speaker 5: So that's basically my way of showing them like, look,

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Speaker 5: you know I you know, I put in the work.

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Speaker 5: I was patient, I never gave up. So it's like,

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Speaker 5: you know, follow that system and you be able to

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Speaker 5: make it so all.

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Speaker 3: Right, So you have a system in place right where

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Speaker 3: you talked to me, you spoke to me about it

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Speaker 3: over the phone that you ain't see to use. Can

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Speaker 3: you just explain that, like as far as like you

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Speaker 3: buy a home, then you take the cash from the home,

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Speaker 3: you buy another home, like what's your what's your blueprint?

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Speaker 5: So yeah, and that's kind of like we're allowing me

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Speaker 5: to like really blow up as far as like in

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Speaker 5: real estate. So it's basically the system is, you know,

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Speaker 5: you try to cash out on your property as soon.

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Speaker 3: As you've done renovating.

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Speaker 5: So just to like run a quick math, you know,

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Speaker 5: let's just say the house is worth three hundred thousand,

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Speaker 5: you pick it up for one hundred. Let's just say

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Speaker 5: it needs fifty on renovations. So it's like originally when

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Speaker 5: I would go to a harm Mooney lender, I will

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Speaker 5: just tell them, look, I'm buying the house for one

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Speaker 5: hundred and fifty for renovations, and they'll give me the

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Speaker 5: ninety thousand on the purchase because it's ten percent, and

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Speaker 5: then they'll give me the fifty thousand for the renovation,

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Speaker 5: which was cool. Now I was able to renovate the house.

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Speaker 5: But then eventually I got a little smart. I was like,

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Speaker 5: wait a minute, these are the hard money lenders. They're

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Speaker 5: willing to give you seventy percent of the value. So

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Speaker 5: the house is worth three hundred and they're willing to

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Speaker 5: give me seventy percent. That's two ten, So why am

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Speaker 5: I just pulling out one fifty? Let me just pull

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Speaker 5: out this two ten right away so that you know.

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Speaker 3: So now if you're renovated for fifty, but now you're not.

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Speaker 5: Saying fifty for the same this scenariic, I'm taking one ten.

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Speaker 5: Now finish up the house with the fifty. You get

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Speaker 5: that difference. So by the time you're renovating the house,

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Speaker 5: you're pretty much already cashed out this money.

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Speaker 3: And then you have the two options worth your house.

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Speaker 5: You get to flip the house and if it's worth

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Speaker 5: three hundred, you know, you're flipping it for three hundred,

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Speaker 5: or you could just do a cash out REFI, which

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Speaker 5: will be at seventy five percent, which is down the

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Speaker 5: loan instead of being two ten, it might be let's

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Speaker 5: say two twenty, but you're ready cashed out, so you're

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Speaker 5: not really cashing out. You're just more like what I

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Speaker 5: call a park in the house. And the most important

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Speaker 5: thing about this property it needs to cash load. I

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Speaker 5: mean cash loow is like the most important thing. So

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Speaker 5: if you follow the cash low, then you know, and

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Speaker 5: then you do the system, you know you're gonna be

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Speaker 5: all right.

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Speaker 3: So hard money lending, can you talk about that because

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Speaker 3: people might not be familiar with because people know about

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Speaker 3: traditional bank loans, mortgages and stuff like that, right, but

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Speaker 3: people don't understand. I don't think a lot of times

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Speaker 3: that you can get financing for a home outside of

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Speaker 3: a bank.

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Speaker 2: Right when I heard the word hard money, I'm thinking,

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Speaker 2: you gotta get this guy with a suit, handslipped bad

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Speaker 2: and he was like, yeah, I can give you some money.

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Speaker 3: Like what is a hard money lender?

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Speaker 5: So harmmoney lender is a private lender and their asset

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Speaker 5: based lender, meaning that they're not really focusing too much

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Speaker 5: on your personal income credit. They're really focusing on what

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Speaker 5: the what property you're buying, what's it worth, how much

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Speaker 5: are you going to need?

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Speaker 3: And you know, those.

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Speaker 5: Numbers make sense, and for them to make sense, different

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Speaker 5: letters have different rules. I have lenders who they're willing

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Speaker 5: to go seventy five percent loans of value.

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Speaker 3: Those lenders that.

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Speaker 5: Are willing to go seventy some you know, they're really cheap.

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Speaker 5: They only want to go let's say fifty five percent.

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Speaker 5: So you know, depends what lender you get. But the

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Speaker 5: most important thing about them is like they're not focusing

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Speaker 5: on your credit.

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Speaker 3: On your credit.

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Speaker 5: You know, you have, you know at one point, but

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Speaker 5: I think like the first hard money loan that I

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Speaker 5: that I took out, my credits goal is like a

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Speaker 5: five to eighty five, which is trash and that property particularly,

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Speaker 5: I had no choice but to go through the hard

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Speaker 5: money lender because I was trying to go through like

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Speaker 5: a regular conventional bank and they already had loan on

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Speaker 5: a couple of properties. But I ended up getting a

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Speaker 5: state taxling on my credit and that kind of destroyed

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Speaker 5: my credits for so I was able to reverse it.

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Speaker 7: But to reverse it was gonna take a few months,

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Speaker 7: and they were like they weren't gonna wait.

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Speaker 5: A few months, and I couldn't wait a few months.

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Speaker 5: I needed to do the right away. So that's when

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Speaker 5: I was introduced to a harmoney lender. And you know,

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Speaker 5: they made it happen.

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Speaker 2: So in that process, right, because I'm assuming like hard

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Speaker 2: money letters, not many of them look like us. No,

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Speaker 2: whether it's on like discriminatory setbacks or anything like that,

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Speaker 2: you know what coming from the inner city.

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Speaker 5: Yeah, you know, I've learned in this business that sometimes

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Speaker 5: we tend to be racist ourselves. It's kind of like,

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Speaker 5: you know, you grow up in the city and it's

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Speaker 5: like everyone around you is like a minority, and like

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Speaker 5: like when you see someone who's not a minority, they're

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Speaker 5: like either a police officer or like you see my TV,

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Speaker 5: like the politicians and it, and then you hear all

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Speaker 5: these things, like you know, situations, especially in the inner

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Speaker 5: city dinner with cops. It was like you put in

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Speaker 5: your head like, oh man, everybody's you know, the racist,

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Speaker 5: the racist know they're gonna be racist, and you kind

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Speaker 5: of men already defeated basically thinking that they're going to

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Speaker 5: be racist against.

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Speaker 3: You man, and you know it's not the case. You know.

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Speaker 5: It's like most of the people that I would say

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Speaker 5: that financially have helped me out through loans have been

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Speaker 5: white people.

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Speaker 3: So you know, the whole.

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Speaker 5: Concept of like you know it's gonna be all racist,

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Speaker 5: you know, it doesn't work. I will say this though,

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Speaker 5: especially started off in the cities. You know, they're pretty dope.

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Speaker 5: Now everybody wants invest in them, but you go back,

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Speaker 5: there were the first ones to take the head.

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Speaker 3: And you know, going to a bank, nobody wanted a loan.

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Speaker 5: And in the cities, it's like when I first tried

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Speaker 5: to do cashot refis, lenders would say, oh, yeah, we're

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Speaker 5: willing to go seventy percent. And once you submitted the

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Speaker 5: application and then throwing the zip code, they'll come back

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Speaker 5: and said, I know.

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Speaker 3: What, We're going to give you sixty. It's like wildly sixty.

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Speaker 3: It's like, oh, because you know, where you're located.

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Speaker 5: Is a literally high crime area, so it's it's a

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Speaker 5: higher risk bru so they chop it down.

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Speaker 3: So if anybody's not familiar with Jersey, you're from Pattison,

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Speaker 3: Jersey party practice, So Pattison, Newark, East r and South Orange,

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Speaker 3: Jersey City, any other place not forget that's north southern Jersey.

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Speaker 3: I mean, but like northern North Jersey.

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Speaker 7: Day you got your Jersey City, you have Elizabeth.

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Speaker 3: If you have Nork, you have Pattison, you have for sake,

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Speaker 3: you know, it's a whole bunch, and you have other

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Speaker 3: the like you know, snow towns all right. So but

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Speaker 3: Jersey it's like all places right where you have the

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Speaker 3: hals and half nots, right, So it's very wealthy neighborhoods

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Speaker 3: and it's very poor neighborhoods, right so, but like all

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Speaker 3: places in America are poor, neighborhoods in Jersey are changing now,

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Speaker 3: right So Jersey City, we was just in Jersey City

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Speaker 3: that that that's not even like, yeah, that's completely different

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Speaker 3: right now. You see the Skyline College. Yeah, Jersey City

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Speaker 3: is completely different. They're doing a lot of development in

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Speaker 3: Newark right now. Definitely. Yeah, Pattison, where you're from, Gentrification

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Speaker 3: is coming, it's called yeah, yeah definitely.

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Speaker 5: So as then, you know, it hasn't hit like two

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Speaker 5: year extended with Jersey City and North And we would

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Speaker 5: say the reason for that is because of Jersey City

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Speaker 5: and North they have some really good public transportation like

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Speaker 5: trains that go in to the city, so that allows

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Speaker 5: for that to happen a lot quicker for us. We

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Speaker 5: have buses, but we don't have like any trains that

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Speaker 5: are mass transit like that.

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Speaker 3: We have one that goes into North but very few

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Speaker 3: people use it.

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Speaker 5: It doesn't have like that appeal where you know, someone

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Speaker 5: could just go and grab the training.

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Speaker 3: Yeah, so what are the appeals, disadvantages, advantages because we

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Speaker 3: hit it a lot right where it's trinity was like

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Speaker 3: by a block by back to block right, So you

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Speaker 3: actually have done that. You guys are actually doing that

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Speaker 3: in real life. So because I mean you couldn't at

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Speaker 3: this point, you can invest anyway. You can invest in

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Speaker 3: the suburbs, you can like, so for you personally, why

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Speaker 3: is it beneficial to invest in the city and what

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Speaker 3: are some advantages and disadvantages in inner city?

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Speaker 5: Well, for one, when I got into real estate, I

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Speaker 5: wanted to get into rentals. So you're not going to

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Speaker 5: go into the suburbs to the rentals because it's like the.

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Speaker 3: Money's not there.

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Speaker 5: And I've read a lot of books and before I

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Speaker 5: even got into the real estate, and one key thing

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Speaker 5: that I always read it is like all those other

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Speaker 5: like investors with world books, what we're saying, which I

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Speaker 5: agree with it too, is like know, go into like

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Speaker 5: the tough neighborhoods, but the good parts of the tough

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Speaker 5: neighborhoods and then you know you're gonna do it.

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Speaker 3: Right.

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Speaker 5: So, but yeah, the suburbs, you're not gonna you know,

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Speaker 5: you're not gonna be really you're not gonna make money.

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Speaker 5: Where you're gonna make the money when you deal with

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Speaker 5: rentals is gonna be where the rentals are at.

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Speaker 3: Which, for the most part, is gonna be in the city. Yeah.

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Speaker 2: And that that goes along with like zoning issues, right,

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Speaker 2: I would assume like in the suburbs, people's homes are

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Speaker 2: zone for two family, three family a lot of.

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Speaker 5: Times, you know the design that where they design one families,

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Speaker 5: you know, and they'll have their few multi family complexes,

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Speaker 5: but you know you're talking about million dollar properties. Then

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Speaker 5: you start off it's just not realistic, right, Okay, okay,

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Speaker 5: all right, So one o the questions that I wanted

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Speaker 5: to ask you, So, Okay, can you just break down

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Speaker 5: your first deal?

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Speaker 3: Because I think that's the hardest part that people. It's

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Speaker 3: like all things in life, right, the hardest thing to

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Speaker 3: do is to start. Once you start, then you kind

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Speaker 3: of but like, can you just explain your first deal,

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Speaker 3: your first investment deal?

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Speaker 5: Yeah, so you know, going back to that chart where

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Speaker 5: you know roll down to is like in my mind.

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Speaker 5: In two thousand and four, that's when I said, okay,

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Speaker 5: I got to get into real estate. So went into

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Speaker 5: real estate. But as soon as they were my credit

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Speaker 5: credit was kind of like shot, so I had to

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Speaker 5: start working on fixing that credit. By the time I

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Speaker 5: finished fixing the credit was like two thousand and five

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Speaker 5: two thousand and six. Started working with a real estate agent,

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Speaker 5: and that's when they said, I wanted to get that

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Speaker 5: three families, I could live for three and one that didn't.

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Speaker 5: That didn't really work.

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Speaker 3: Out too well. She couldn't find me anything.

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Speaker 5: So I ended up getting my license, got my license,

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Speaker 5: but O seven, I ended up getting fired from my job.

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Speaker 3: So now you know, couldn't get into like basically real

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Speaker 3: estate investing.

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Speaker 5: So took that as an opportunity to just have my license,

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Speaker 5: let me just do with real estate and let me

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Speaker 5: learn the business as a roulter.

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Speaker 3: So let's just fast forward.

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Speaker 5: When I ended up getting my first property, which was

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Speaker 5: twenty and eleven, that was a short shot. I put

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Speaker 5: the offer like in twenty ten, All right, now this deal.

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Speaker 5: When I put in the offer, I put an offer

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Speaker 5: of one fifty.

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Speaker 3: I qualified, it was good to go. The bank approved

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Speaker 3: that for two twenty eight.

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Speaker 5: It's not much of a difference on the mortgage, but

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Speaker 5: it's like when you're like really right on the borderline,

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Speaker 5: that made a word of you.

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Speaker 3: Know, that made a huge difference. I couldn't couldn't get

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Speaker 3: the loan. I mean I went to like eight different

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Speaker 3: banks to get like a loan.

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Speaker 5: Everybody said, now, so, which is a thing that I

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Speaker 5: tell people now all the time, Like listening when someone

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Speaker 5: tells you no, that just means it's not a yes

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Speaker 5: right now. But find out what do you have to

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Speaker 5: do to make that a yes. You know that yes

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Speaker 5: could happen in a couple of days, a coold happened

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Speaker 5: a couple of years, but like, definitely find out what

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Speaker 5: you need.

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Speaker 3: To do so you could you get it corrected.

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Speaker 7: Did that when you know, went back to like one of.

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Speaker 5: The guys that you know, it kind of broke down

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Speaker 5: to me why I didn't qualify. It's like I had

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Speaker 5: an auto loan, I had a lot of credit cards

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Speaker 5: mixed up, and I also had a huge IRS. So

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Speaker 5: it's kind of like I had a kind of maneuver

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Speaker 5: all the money make a payment plan with the irs

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Speaker 5: instead of paying them in full, pay down some credit cards,

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Speaker 5: pay off.

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Speaker 3: A car, and did all that.

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Speaker 5: And I had like basically like the money and and

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Speaker 5: the means to get the first property. It was the

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Speaker 5: game changer for me, the first one, because it was

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Speaker 5: a four family house and it was all events through

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Speaker 5: section eight. Now it's crazy about that that I went.

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Speaker 5: You know, I tell you friends, family members about it,

400
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Speaker 5: and everyone was to basically tell me like, ah, don't

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00:17:08,760 --> 00:17:10,320
Speaker 5: do that four family house.

402
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Speaker 3: And you know that's Crazy're gonna be dealing with tennis.

403
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Speaker 3: Is gonna be a headache.

404
00:17:12,840 --> 00:17:14,800
Speaker 5: You know, get the two family with attic in the basement,

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Speaker 5: which in my mind, I'm like, well, that's a four family.

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Speaker 5: But then all that though, is that it was say

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Speaker 5: in Jersey three family. Once you have a three family,

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Speaker 5: you have to deal with the state and they come

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Speaker 5: and inspect their property every five years. And you know,

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Speaker 5: most people don't like dealing with that. So with the

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Speaker 5: two family, you get no inspections. And now you have

412
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Speaker 5: the addict, you have the basement. It's fair game in Patterson.

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Speaker 5: Addicts and basements you know, for for you know, for

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Speaker 5: some people, you know, for those who are winning too

415
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Speaker 5: to take the rest. But for me, it was a

416
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Speaker 5: game changer because it was like a four family house,

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Speaker 5: two apartments, paid the mortgage deal the two apartments with

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Speaker 5: basically for myself. So now that's basically about three thousand

419
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Speaker 5: dollars per month that I was making on that property.

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Speaker 5: That's about what I was making for my job. I

421
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Speaker 5: was working as a rota. So now it's kind of like,

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Speaker 5: wait a minute. You know, if I was happy with

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Speaker 5: three thousand miles, I'm pretty much say, you know, let's

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Speaker 5: forget this. I'm done every time I stay.

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Speaker 3: Home child, but you know that willpen up my mind.

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Speaker 3: I just got to rest. I'm like, wait a minute,

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Speaker 3: now I need to get another one. So now what

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Speaker 3: do I have to get, you know, to get the

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Speaker 3: other one?

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Speaker 5: And and you know, studed like strategizing and figuring out ways.

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Speaker 3: It was.

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Speaker 5: The time was also perfect too, because it was like,

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Speaker 5: you know, during that time, nobody wanted to jump into

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Speaker 5: real estate. I mean, I will go to barbecues and

435
00:18:24,280 --> 00:18:25,879
Speaker 5: I will try to convince people to buy, and then

436
00:18:25,920 --> 00:18:29,240
Speaker 5: that you get, like to get an investment property. Everybody

437
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Speaker 5: thought was just after a commission, like now know you

438
00:18:31,359 --> 00:18:32,800
Speaker 5: just you just want to sell the house, and it's like.

439
00:18:32,840 --> 00:18:35,440
Speaker 3: Nah, man, like you know this. You're gonna make good

440
00:18:35,440 --> 00:18:38,520
Speaker 3: income off though for this house. So so okay. So

441
00:18:38,680 --> 00:18:41,400
Speaker 3: you brought your first investment property in twenty eleven two

442
00:18:41,400 --> 00:18:43,480
Speaker 3: thousand and even took the equity out of that, and

443
00:18:43,560 --> 00:18:46,600
Speaker 3: then for another one and then kind of just parlated

444
00:18:46,640 --> 00:18:48,879
Speaker 3: from there. None actually and the didn't they didn't take

445
00:18:48,920 --> 00:18:50,800
Speaker 3: out the equity on that one. It's like that still

446
00:18:50,880 --> 00:18:52,639
Speaker 3: was in my mind. I still didn't know about like.

447
00:18:52,640 --> 00:18:56,159
Speaker 5: Hashot refives or anything like that. It's got the first one.

448
00:18:56,600 --> 00:18:58,439
Speaker 5: The game plan was you just save up money. Now

449
00:18:58,440 --> 00:19:00,320
Speaker 5: I'm making three thousand per months, though if I touch

450
00:19:00,359 --> 00:19:03,080
Speaker 5: those three thousand in a year, that's close to forty

451
00:19:03,080 --> 00:19:04,119
Speaker 5: thousand dollars I was gonna have.

452
00:19:04,520 --> 00:19:06,000
Speaker 3: So it was just kind of like saving up.

453
00:19:07,720 --> 00:19:10,840
Speaker 5: And then like a year later, what happened was there

454
00:19:10,880 --> 00:19:13,600
Speaker 5: was a property that I had put in an offer

455
00:19:13,640 --> 00:19:17,120
Speaker 5: for a client of mine, and we put in an offer.

456
00:19:16,920 --> 00:19:18,320
Speaker 3: On a fourth family for one to fifty.

457
00:19:18,320 --> 00:19:21,160
Speaker 5: He was on by straight cash months passed by. Hits

458
00:19:21,200 --> 00:19:22,320
Speaker 5: me back up, like you know, because it was a

459
00:19:22,400 --> 00:19:25,159
Speaker 5: short sell. He got desperate, he couldn't wait send to

460
00:19:25,359 --> 00:19:27,320
Speaker 5: you know, find him something else found him a six

461
00:19:27,359 --> 00:19:30,000
Speaker 5: family for two hundred. A couple of months passed by,

462
00:19:30,080 --> 00:19:32,920
Speaker 5: the built her that was suddenly the house. She called

463
00:19:32,960 --> 00:19:34,359
Speaker 5: me up, tells her height list and we finally got

464
00:19:34,359 --> 00:19:37,919
Speaker 5: the approvals. Your clients so interested, and I was like, yeah, yeah, definitely.

465
00:19:38,080 --> 00:19:41,760
Speaker 5: He wasn't make that commission. Started to someone else, right,

466
00:19:42,119 --> 00:19:43,720
Speaker 5: So he's like noo, it's you know, it's kind of

467
00:19:43,880 --> 00:19:45,480
Speaker 5: it's kind of weird, but it's like, you know, the

468
00:19:45,560 --> 00:19:48,080
Speaker 5: bank the house on your pace for seventy five. So

469
00:19:48,119 --> 00:19:49,520
Speaker 5: I was like, oh, what does that make? So like

470
00:19:50,119 --> 00:19:52,120
Speaker 5: seventy five is basically that's what your client is gonna

471
00:19:52,119 --> 00:19:54,080
Speaker 5: have to pay. So I was like, okay, great, he

472
00:19:54,240 --> 00:19:57,440
Speaker 5: let me give him the good news, went back, got

473
00:19:57,480 --> 00:20:01,119
Speaker 5: on the computer, opened them an LLC, and you know,

474
00:20:01,280 --> 00:20:03,440
Speaker 5: started making phone calls. You know, I had no money,

475
00:20:03,440 --> 00:20:07,040
Speaker 5: so it's saving those you know, those three thousand dollars

476
00:20:07,040 --> 00:20:09,000
Speaker 5: per month. It's like the house neat, the house that

477
00:20:09,040 --> 00:20:10,560
Speaker 5: I bought needed some work, so I spent some money

478
00:20:10,600 --> 00:20:14,920
Speaker 5: on that, and I wasn't managing like the money right,

479
00:20:15,080 --> 00:20:16,639
Speaker 5: so I started making full calls, borring, you know, I

480
00:20:16,680 --> 00:20:18,800
Speaker 5: ended up borrowing some money, had some money saved up

481
00:20:18,920 --> 00:20:21,440
Speaker 5: use that to kind of renovate the house, and and

482
00:20:21,520 --> 00:20:23,600
Speaker 5: that's how I ended up getting my second profit, end

483
00:20:23,680 --> 00:20:26,840
Speaker 5: up getting this four family for seventy five thousand. And

484
00:20:27,080 --> 00:20:29,119
Speaker 5: that's the first one where I sort of got like

485
00:20:29,160 --> 00:20:32,199
Speaker 5: a cashot refine it because like eight months later I

486
00:20:32,280 --> 00:20:34,920
Speaker 5: was able to go to a bank and they gave

487
00:20:34,960 --> 00:20:36,680
Speaker 5: me one hundred thousand all alone on that one.

488
00:20:36,760 --> 00:20:38,480
Speaker 3: So I was able to get back my money on that.

489
00:20:38,920 --> 00:20:41,919
Speaker 2: So you your company, you said, your father LLC. So

490
00:20:42,000 --> 00:20:44,520
Speaker 2: your company became your client, you became your client.

491
00:20:44,800 --> 00:20:47,800
Speaker 5: Yeah, yeah, basically sense right, yeah, in the sense it's

492
00:20:47,840 --> 00:20:49,680
Speaker 5: like the bank didn't care who who purchased that house,

493
00:20:49,720 --> 00:20:51,520
Speaker 5: you know, they just wanted to seventy five So.

494
00:20:51,480 --> 00:20:53,720
Speaker 3: What are some of the benefits of putting a house

495
00:20:53,800 --> 00:20:54,920
Speaker 3: or property in an LLC?

496
00:20:55,760 --> 00:20:59,520
Speaker 5: At that time, the benefit was it was a requirement

497
00:21:00,040 --> 00:21:01,800
Speaker 5: because it was a business deals Like though you know

498
00:21:02,359 --> 00:21:06,120
Speaker 5: it's all to for one thing, I wanted to make sure,

499
00:21:06,280 --> 00:21:08,960
Speaker 5: you know, doing research and stuff, and you know, it's

500
00:21:09,040 --> 00:21:11,440
Speaker 5: like getting multiple multiple properties. I had to stay in

501
00:21:11,480 --> 00:21:13,159
Speaker 5: my head that I read like, oh, you get a

502
00:21:13,200 --> 00:21:15,919
Speaker 5: different LLC for every property, that's going to limit your liabilities.

503
00:21:15,960 --> 00:21:19,600
Speaker 3: So I kind of went that out but now, you know,

504
00:21:19,760 --> 00:21:20,320
Speaker 3: just keep a.

505
00:21:20,240 --> 00:21:22,600
Speaker 5: Couple of llocs for my probably's home. You know, there

506
00:21:22,640 --> 00:21:24,000
Speaker 5: was a time when I was actually opening up an

507
00:21:24,119 --> 00:21:26,639
Speaker 5: LLC for each property. But then after a while, like

508
00:21:26,680 --> 00:21:28,200
Speaker 5: you know, it kind of is like I had you

509
00:21:28,200 --> 00:21:32,320
Speaker 5: gotta follow these I was like, just keep getting insurance

510
00:21:32,400 --> 00:21:33,800
Speaker 5: on your house, all right.

511
00:21:33,840 --> 00:21:35,560
Speaker 3: All right, So now you got the backstories, and now

512
00:21:35,560 --> 00:21:38,439
Speaker 3: we're going to go into the blueprint of how you

513
00:21:38,520 --> 00:21:40,960
Speaker 3: actually do your day to day operations. I'm gonna get

514
00:21:40,960 --> 00:21:44,560
Speaker 3: it gone, all right, So we're going to go into

515
00:21:44,320 --> 00:21:47,320
Speaker 3: the nitty gritty. But before we start, you have to

516
00:21:47,359 --> 00:21:49,200
Speaker 3: acknowledge this because we don't want this to go with

517
00:21:49,240 --> 00:21:53,840
Speaker 3: people said, So, okay, twenty twelve, which was seven years ago, right,

518
00:21:54,160 --> 00:22:00,600
Speaker 3: so you borrowed thirty thousand, yes, right to do your

519
00:22:00,680 --> 00:22:05,960
Speaker 3: second investment property, and then from there you kind of

520
00:22:06,080 --> 00:22:08,560
Speaker 3: just learned the ropes and you're at where you're in now.

521
00:22:08,680 --> 00:22:14,520
Speaker 3: So in the words of Kendrick Gloeola, he took thirty

522
00:22:14,600 --> 00:22:20,000
Speaker 3: thousand and you freaked it to twenty five million seven years.

523
00:22:20,080 --> 00:22:23,880
Speaker 8: So yeah, it's I'll say twenty sixteen though, that's that's

524
00:22:23,920 --> 00:22:27,080
Speaker 8: kind of like what the magic happened though, Okay, it's

525
00:22:27,160 --> 00:22:30,480
Speaker 8: kind of like that's when like I was consistently able

526
00:22:30,520 --> 00:22:34,040
Speaker 8: to purchase a property, fix it up, rents it out,

527
00:22:34,160 --> 00:22:36,280
Speaker 8: and then once it's already rents it go to Alenda

528
00:22:36,359 --> 00:22:37,040
Speaker 8: to catch it out.

529
00:22:37,280 --> 00:22:39,359
Speaker 3: All right? So can we all right? Son? We so

530
00:22:39,400 --> 00:22:41,320
Speaker 3: can we get right to look at the chart? Though?

531
00:22:41,600 --> 00:22:43,600
Speaker 5: You notice how it's kind of like I was like, oh,

532
00:22:43,640 --> 00:22:46,520
Speaker 5: it's like you know, get a three, it's like one one, yeah,

533
00:22:46,680 --> 00:22:48,960
Speaker 5: but it's like twenty sixteen. That's kind of like when

534
00:22:48,960 --> 00:22:52,560
Speaker 5: it really like made that So match twenty fifteen, twenty fifteen,

535
00:22:52,600 --> 00:22:54,119
Speaker 5: So can we do that's when I, you know, the

536
00:22:54,119 --> 00:22:54,679
Speaker 5: first cashown.

537
00:22:54,680 --> 00:22:56,639
Speaker 3: Can we go to twenty fifteen? When when you start

538
00:22:56,680 --> 00:22:59,400
Speaker 3: to really take off? And kind of just because that's

539
00:22:59,480 --> 00:23:02,000
Speaker 3: like your blue right as far as yeah, can you

540
00:23:02,000 --> 00:23:03,840
Speaker 3: just break that down as far as the flips, how

541
00:23:03,880 --> 00:23:06,560
Speaker 3: you look at it? All right? Can you just tell

542
00:23:06,560 --> 00:23:07,560
Speaker 3: exactly like what you do?

543
00:23:08,520 --> 00:23:10,320
Speaker 5: So what I do is like when I look at

544
00:23:10,320 --> 00:23:12,040
Speaker 5: a house, it is like try not to look at

545
00:23:12,040 --> 00:23:12,400
Speaker 5: a house.

546
00:23:12,480 --> 00:23:15,440
Speaker 3: I try to look at numbers. So it's in the.

547
00:23:15,359 --> 00:23:19,480
Speaker 5: Formula is basically if I keep try like of my

548
00:23:19,560 --> 00:23:21,439
Speaker 5: portfolio and I ask myself like, all right, is this

549
00:23:21,520 --> 00:23:22,720
Speaker 5: going to increase my network.

550
00:23:23,400 --> 00:23:25,240
Speaker 7: And then the other question is is this going to

551
00:23:25,280 --> 00:23:26,280
Speaker 7: increase my cash flow?

552
00:23:27,000 --> 00:23:28,720
Speaker 9: And if the answer is yes, and it's kind of

553
00:23:28,760 --> 00:23:30,080
Speaker 9: like all right, is the thumbs up, you know, and

554
00:23:30,200 --> 00:23:30,679
Speaker 9: I could get this.

555
00:23:30,800 --> 00:23:33,720
Speaker 5: But now there's the other question, now is like how

556
00:23:33,760 --> 00:23:36,160
Speaker 5: fast and can I get my money back on this deal?

557
00:23:36,800 --> 00:23:39,080
Speaker 5: And then there's like if all three are yes, then

558
00:23:39,080 --> 00:23:40,160
Speaker 5: that's when I jump on the deal.

559
00:23:40,160 --> 00:23:41,320
Speaker 3: Okay, yeah, this is a deal for me.

560
00:23:41,800 --> 00:23:44,880
Speaker 5: So it's like every property that I see, I see

561
00:23:44,920 --> 00:23:47,320
Speaker 5: with that intention is like I think, like the most

562
00:23:47,359 --> 00:23:49,920
Speaker 5: important thing you need to know is how much can

563
00:23:49,960 --> 00:23:51,240
Speaker 5: a house a praise for?

564
00:23:51,880 --> 00:23:53,640
Speaker 7: And then it's like the key component here is a.

565
00:23:53,680 --> 00:23:56,440
Speaker 5: Praise for which took me a while to understand because

566
00:23:56,440 --> 00:23:57,760
Speaker 5: before I would look at a house and I was

567
00:23:57,840 --> 00:23:59,239
Speaker 5: just like such an honest guy, and I would look

568
00:23:59,240 --> 00:24:01,240
Speaker 5: at it, I tell myself, like, you know what that

569
00:24:01,280 --> 00:24:03,080
Speaker 5: ask I can sell that for two fifty, so it's

570
00:24:03,080 --> 00:24:06,399
Speaker 5: worth two fifty. But going back down to like the

571
00:24:06,440 --> 00:24:09,240
Speaker 5: inner city, and it's kind of like why I stuck

572
00:24:09,240 --> 00:24:11,080
Speaker 5: to Patterson because I felt like I knew Pattison like

573
00:24:11,119 --> 00:24:14,440
Speaker 5: the palm of my hand, and not sure if it's

574
00:24:14,440 --> 00:24:17,000
Speaker 5: like if it's you know, if it's the same for

575
00:24:17,040 --> 00:24:17,760
Speaker 5: every inner city.

576
00:24:17,760 --> 00:24:19,680
Speaker 7: But let's say Patterson, you get you get a block.

577
00:24:20,880 --> 00:24:22,720
Speaker 3: This corner right here is.

578
00:24:22,720 --> 00:24:25,159
Speaker 5: Like where all the hustlers are at, and it's a

579
00:24:25,200 --> 00:24:26,440
Speaker 5: lot of crime basically, right.

580
00:24:27,080 --> 00:24:28,760
Speaker 3: But this corner right here, which is the same block,

581
00:24:29,200 --> 00:24:31,520
Speaker 3: super quiet. It's cool. You could you know, you could

582
00:24:31,560 --> 00:24:31,879
Speaker 3: walk by.

583
00:24:31,960 --> 00:24:33,720
Speaker 5: Nobody's gonna, you know, try to hustle you for you know,

584
00:24:33,800 --> 00:24:35,400
Speaker 5: to buy any any drugs or anything like that.

585
00:24:35,480 --> 00:24:38,000
Speaker 3: Yeah, but now they're on the same exact block.

586
00:24:38,080 --> 00:24:40,120
Speaker 5: So now you picture somebody coming from out of town,

587
00:24:40,280 --> 00:24:43,199
Speaker 5: like an appraisal or anyone, and now they see this

588
00:24:43,359 --> 00:24:46,720
Speaker 5: property over here. But now when they look at comparables,

589
00:24:46,720 --> 00:24:48,600
Speaker 5: they're looking at the whole neighborhood and gonok for the

590
00:24:48,640 --> 00:24:51,760
Speaker 5: median area. So it's like if this property record, you

591
00:24:51,840 --> 00:24:57,040
Speaker 5: know right here, basically let's say this one is cells

592
00:24:57,040 --> 00:24:58,800
Speaker 5: for two hundred, but you know, let's say this one

593
00:24:58,840 --> 00:25:01,600
Speaker 5: sells for.

594
00:25:00,080 --> 00:25:01,000
Speaker 3: For two fifty.

595
00:25:01,080 --> 00:25:04,199
Speaker 5: Let's just say, right, but now if you're buying this

596
00:25:04,240 --> 00:25:06,440
Speaker 5: one and you're buying it through a short so it's

597
00:25:06,480 --> 00:25:09,199
Speaker 5: going to be a foreclosure, more than likely they're going

598
00:25:09,280 --> 00:25:11,360
Speaker 5: to use this one here as a comparable. So now

599
00:25:11,520 --> 00:25:13,520
Speaker 5: this brings down the value of this but this one

600
00:25:13,600 --> 00:25:15,440
Speaker 5: is worth more, and you know it's worth more because

601
00:25:15,440 --> 00:25:18,240
Speaker 5: you know the area better. So and then going back

602
00:25:18,240 --> 00:25:20,600
Speaker 5: to the other thing about knowing about you know, appraisal

603
00:25:20,640 --> 00:25:24,320
Speaker 5: one values, it's you know, that's kind of where it's

604
00:25:24,320 --> 00:25:26,120
Speaker 5: at because it's like you know that this one's gonna

605
00:25:26,119 --> 00:25:27,760
Speaker 5: suffer less and this one's going to sell for more.

606
00:25:28,000 --> 00:25:31,639
Speaker 5: But when you put those two on paper, depending which

607
00:25:31,680 --> 00:25:34,359
Speaker 5: way it goes, remember as I told you, earligo is like

608
00:25:34,440 --> 00:25:37,000
Speaker 5: appraisal is not a science, is an art. So depending

609
00:25:37,000 --> 00:25:38,879
Speaker 5: on the artists, depending which way they want to go,

610
00:25:39,200 --> 00:25:40,919
Speaker 5: that value could come in at two hundred, can come in.

611
00:25:40,880 --> 00:25:41,480
Speaker 3: At two fifty.

612
00:25:41,680 --> 00:25:43,160
Speaker 5: So I try to look for the house it's worth

613
00:25:43,200 --> 00:25:44,600
Speaker 5: two fifty that I know the value is going to

614
00:25:44,640 --> 00:25:46,240
Speaker 5: come in at two hundred. It's it's kind of like

615
00:25:46,280 --> 00:25:48,080
Speaker 5: now off the bed. As soon as I buy the property,

616
00:25:48,119 --> 00:25:51,160
Speaker 5: already know I have fifty thousand inequity the other part

617
00:25:51,200 --> 00:25:53,080
Speaker 5: of it too, which is why I always try to

618
00:25:53,080 --> 00:25:56,679
Speaker 5: look for properties that need renovation because most people do

619
00:25:56,800 --> 00:25:59,439
Speaker 5: not want to deal with renovations. Most people want to

620
00:25:59,480 --> 00:26:00,919
Speaker 5: just grabt the key, go inside of the house, and

621
00:26:00,920 --> 00:26:03,600
Speaker 5: they're good to go. So when you get a property

622
00:26:03,640 --> 00:26:06,520
Speaker 5: and you're renovating, you adding value to it. So now

623
00:26:07,840 --> 00:26:09,920
Speaker 5: let's just say the scenario, right, you ended up picking

624
00:26:09,920 --> 00:26:12,120
Speaker 5: this house for two hundred, but you know it's ready

625
00:26:12,119 --> 00:26:13,960
Speaker 5: off the bat, it's a ready worth two fifty. But

626
00:26:14,080 --> 00:26:16,800
Speaker 5: now you let's say you throw twenty five into it.

627
00:26:17,440 --> 00:26:19,639
Speaker 5: Now it's not two seventy five. Now it's three hundred.

628
00:26:19,680 --> 00:26:21,520
Speaker 5: So you got it more more value to it.

629
00:26:21,760 --> 00:26:24,679
Speaker 2: So when you're doing that right, when you're about to rentedy, right,

630
00:26:24,720 --> 00:26:26,600
Speaker 2: I'm assuming on your first property, you.

631
00:26:26,600 --> 00:26:29,800
Speaker 3: Didn't have a team or did you going into it right?

632
00:26:29,920 --> 00:26:33,240
Speaker 2: So what was the process of selecting a team of contractors,

633
00:26:34,160 --> 00:26:35,840
Speaker 2: like honest people.

634
00:26:35,960 --> 00:26:37,760
Speaker 3: Out of right so that you don't get ripped off?

635
00:26:37,880 --> 00:26:39,720
Speaker 3: Or was it like you know what, I'm gonna learn

636
00:26:39,920 --> 00:26:42,159
Speaker 3: the craft and do it myself, or what was the

637
00:26:42,200 --> 00:26:43,520
Speaker 3: process in creating.

638
00:26:43,240 --> 00:26:47,600
Speaker 5: That well first properties, let's just say the second property

639
00:26:47,640 --> 00:26:49,200
Speaker 5: that I purchased, right, that one, I did not do

640
00:26:49,240 --> 00:26:51,480
Speaker 5: a govern renovation. I just went in threw a couple,

641
00:26:51,520 --> 00:26:53,520
Speaker 5: you know, some liming the floorings, painting the walls, patched

642
00:26:53,560 --> 00:26:55,920
Speaker 5: up a few os. I think I did like one bathroom.

643
00:26:56,760 --> 00:26:59,159
Speaker 5: Had I purchased the house today, that probably would have

644
00:26:59,200 --> 00:27:01,639
Speaker 5: been a complete guy renovation. So you have to do,

645
00:27:02,160 --> 00:27:03,359
Speaker 5: you know, where you can handle what you know.

646
00:27:05,280 --> 00:27:08,400
Speaker 7: So when you start off, you know, advice everybody, just start.

647
00:27:08,240 --> 00:27:10,600
Speaker 3: Off, you know, with light renovations and kind of like

648
00:27:10,720 --> 00:27:11,399
Speaker 3: work your way up.

649
00:27:12,000 --> 00:27:13,960
Speaker 5: The way it works is basically, you get yourself, you know,

650
00:27:14,600 --> 00:27:17,119
Speaker 5: the one handy guy, which once again this is why

651
00:27:17,160 --> 00:27:19,040
Speaker 5: it works out. And you if you're able to buy

652
00:27:19,080 --> 00:27:21,680
Speaker 5: in your neighborhood, you can make a few phone calls ady,

653
00:27:21,760 --> 00:27:23,600
Speaker 5: you know, so they're like, oh, yeah, my cousin has

654
00:27:23,640 --> 00:27:25,440
Speaker 5: a cousin who is pretty handy.

655
00:27:25,520 --> 00:27:26,879
Speaker 3: He can help you out. So you start off with

656
00:27:26,920 --> 00:27:27,520
Speaker 3: the handy guy.

657
00:27:29,000 --> 00:27:30,880
Speaker 5: But after a while, you know, when you start doing

658
00:27:31,000 --> 00:27:33,159
Speaker 5: more incense for renovations, you know, they might refer you

659
00:27:33,240 --> 00:27:35,399
Speaker 5: to someone else. Or it's like, you know, just go

660
00:27:35,480 --> 00:27:37,920
Speaker 5: to home Depot's like and you study, like home meebles

661
00:27:37,920 --> 00:27:40,440
Speaker 5: worried by most of my materials. And it's like and

662
00:27:40,520 --> 00:27:41,720
Speaker 5: if you go in there and you study, when you

663
00:27:41,800 --> 00:27:43,639
Speaker 5: see somebody walking out and all they have is just

664
00:27:43,680 --> 00:27:46,359
Speaker 5: electrical materials that you know, this guy very likely is

665
00:27:46,359 --> 00:27:47,640
Speaker 5: an electrician or at least.

666
00:27:47,440 --> 00:27:49,280
Speaker 3: Knows how to do electrical work. Same thing with a

667
00:27:49,359 --> 00:27:50,960
Speaker 3: plumber and so forth. So it's kind of like and

668
00:27:51,119 --> 00:27:51,679
Speaker 3: you sort of.

669
00:27:51,680 --> 00:27:53,320
Speaker 5: Build up your team, but it's really a trial to

670
00:27:53,359 --> 00:27:55,960
Speaker 5: never unless you get some refrols, you're going to get brod.

671
00:27:56,080 --> 00:27:57,520
Speaker 7: You know, a lot of people ask me a lot

672
00:27:57,560 --> 00:27:59,760
Speaker 7: of times, is like, have ever lost money in real estate?

673
00:28:00,359 --> 00:28:03,080
Speaker 5: And the answer is no, just because I've been able

674
00:28:03,119 --> 00:28:05,600
Speaker 5: to buy properties and have a lot of equity and though,

675
00:28:06,200 --> 00:28:07,920
Speaker 5: but that doesn't mean that its not lose money on

676
00:28:08,000 --> 00:28:09,920
Speaker 5: the deal. So it's like if I go in, I

677
00:28:09,960 --> 00:28:12,280
Speaker 5: get get a property I'm projecting and make let's say

678
00:28:12,320 --> 00:28:14,680
Speaker 5: fifty thousand, and I get this one contractor and you know,

679
00:28:14,760 --> 00:28:16,760
Speaker 5: he messes up and I end up losing ten thousand

680
00:28:16,800 --> 00:28:17,280
Speaker 5: with time.

681
00:28:17,440 --> 00:28:20,320
Speaker 3: Still make forty thousand. You know, but I didn't really

682
00:28:20,320 --> 00:28:21,400
Speaker 3: didn't like lose money.

683
00:28:21,240 --> 00:28:22,920
Speaker 5: But you know you still agree, yea, yeah, it's still

684
00:28:22,920 --> 00:28:26,080
Speaker 5: agreeing no contractors is trigga with contractors is like it's

685
00:28:26,119 --> 00:28:27,960
Speaker 5: like that's why I call them contractors, because you're not

686
00:28:28,040 --> 00:28:30,560
Speaker 5: careful they will kind of So what I do now

687
00:28:30,680 --> 00:28:34,879
Speaker 5: to minimize the chances of somebody ripping me off is

688
00:28:35,000 --> 00:28:38,520
Speaker 5: basically I pay for all the materials, which is pretty

689
00:28:38,560 --> 00:28:40,080
Speaker 5: cool too, because it's like you start getting your mouth.

690
00:28:42,480 --> 00:28:45,120
Speaker 5: So I pay for the materials. I make what I

691
00:28:45,200 --> 00:28:47,880
Speaker 5: call a draw schedule, which is the same kind of

692
00:28:47,920 --> 00:28:49,719
Speaker 5: schedule you have to give your hard money lender. When

693
00:28:49,720 --> 00:28:51,160
Speaker 5: you get a loan from a lender. You can't just

694
00:28:51,200 --> 00:28:53,760
Speaker 5: tell the lender, oh, I need fifty thousand for renovation.

695
00:28:53,880 --> 00:28:55,880
Speaker 5: You got to kind of like map it up, like

696
00:28:56,040 --> 00:28:58,360
Speaker 5: all right, I'm gonna need two thousand to get the house.

697
00:28:58,360 --> 00:29:00,440
Speaker 5: I'm gonna be this much for this. You kind of

698
00:29:00,520 --> 00:29:03,600
Speaker 5: like do every step of of you know what's required,

699
00:29:05,040 --> 00:29:07,560
Speaker 5: so you map it out. Once this is already mapped out,

700
00:29:07,920 --> 00:29:10,480
Speaker 5: then you know, you start pulling like the money.

701
00:29:10,320 --> 00:29:14,480
Speaker 3: Out all right. So okay, so whole verse flips because

702
00:29:14,480 --> 00:29:17,680
Speaker 3: you hear these two kinds of trains of thoughts in reality, right,

703
00:29:17,720 --> 00:29:20,520
Speaker 3: some people only want to flip. Some people only believe

704
00:29:20,520 --> 00:29:23,160
Speaker 3: in buying and holding. Some people do both. You're more

705
00:29:23,360 --> 00:29:27,240
Speaker 3: on buying holding side, right, Yeah, more buying holding.

706
00:29:27,640 --> 00:29:31,040
Speaker 5: It's it's it's a little more complicated because it's like

707
00:29:31,040 --> 00:29:32,920
Speaker 5: when you buy and flip, it's pretty straight straightforward. You

708
00:29:32,960 --> 00:29:35,080
Speaker 5: buy a house, you renovated, you fix it, and you

709
00:29:35,120 --> 00:29:38,080
Speaker 5: suddenly make a profit when trying to hold it. You

710
00:29:38,160 --> 00:29:39,840
Speaker 5: know it goes back to the open of appraisal. Whatever

711
00:29:39,880 --> 00:29:41,720
Speaker 5: it doesn't you know, it doesn't come through, and the

712
00:29:41,760 --> 00:29:44,400
Speaker 5: appraisal doesn't come in right, so you know you kind

713
00:29:44,440 --> 00:29:47,239
Speaker 5: of got to like really, you know, maneuver your way

714
00:29:47,280 --> 00:29:51,680
Speaker 5: around that. But but it's if you buy outs as again,

715
00:29:51,720 --> 00:29:53,040
Speaker 5: you follow it like that phone to make sure you

716
00:29:53,240 --> 00:29:54,120
Speaker 5: follow the cash flow.

717
00:29:55,040 --> 00:29:57,400
Speaker 3: It's a thing about real estate too, is all numbers.

718
00:29:57,760 --> 00:29:59,520
Speaker 7: So you kind of have all the numbers in front

719
00:29:59,560 --> 00:29:59,640
Speaker 7: of you.

720
00:29:59,760 --> 00:30:02,120
Speaker 3: Bas you already know how much money you're gonna collect

721
00:30:02,120 --> 00:30:04,720
Speaker 3: the runt. You already know how much you're paying for

722
00:30:04,760 --> 00:30:06,600
Speaker 3: the property over time.

723
00:30:06,640 --> 00:30:08,120
Speaker 5: Once you already know this, you already know what you're

724
00:30:08,120 --> 00:30:09,920
Speaker 5: gonna spend the renovation, so you kind of already know

725
00:30:10,200 --> 00:30:11,640
Speaker 5: what the mortgage is gonna be, what the rent is

726
00:30:11,640 --> 00:30:11,960
Speaker 5: going to be.

727
00:30:11,960 --> 00:30:12,840
Speaker 3: What the profit is going to be.

728
00:30:13,960 --> 00:30:16,080
Speaker 7: And so when you see it's a really good profit,

729
00:30:16,160 --> 00:30:17,680
Speaker 7: you keep it and you know you want to let

730
00:30:17,760 --> 00:30:17,880
Speaker 7: it go.

731
00:30:18,000 --> 00:30:19,560
Speaker 3: You want to keep it. So how do you learn that,

732
00:30:19,720 --> 00:30:22,800
Speaker 3: like to say, okay, all right, I understand that you

733
00:30:22,880 --> 00:30:25,160
Speaker 3: want to buy a home for cheat and fix it up.

734
00:30:25,240 --> 00:30:28,320
Speaker 3: But the average person they don't have any knowledge of like, okay,

735
00:30:28,720 --> 00:30:30,720
Speaker 3: how much this is actually going to cost to renovate

736
00:30:31,240 --> 00:30:34,280
Speaker 3: or how do I know it's a good deal, Like

737
00:30:34,360 --> 00:30:35,440
Speaker 3: you know what I mean, Like, if you're just going

738
00:30:35,480 --> 00:30:37,440
Speaker 3: in with no team, just by yourself, how do you

739
00:30:37,960 --> 00:30:40,000
Speaker 3: It's very likely you're gonna be a first time on buyer.

740
00:30:40,480 --> 00:30:42,480
Speaker 5: So I'd recommend either go for a three family or

741
00:30:42,520 --> 00:30:46,200
Speaker 5: four family and like your renovation, so it's like you know,

742
00:30:46,280 --> 00:30:48,160
Speaker 5: paining the walls, you know, may throw some lemon the floor,

743
00:30:48,200 --> 00:30:50,840
Speaker 5: and make sure you know how much rent is coming

744
00:30:50,880 --> 00:30:53,160
Speaker 5: in on this property and then also see how much.

745
00:30:53,080 --> 00:30:54,720
Speaker 3: You're paying for it and know what your mortgage is

746
00:30:54,800 --> 00:30:56,480
Speaker 3: going to be. So the difference that's going to be

747
00:30:56,480 --> 00:30:57,040
Speaker 3: your cash flow.

748
00:30:57,560 --> 00:30:59,640
Speaker 5: As far as like what is the number, it's kind

749
00:30:59,680 --> 00:31:01,280
Speaker 5: of like for me personally, like for for any property

750
00:31:01,320 --> 00:31:02,880
Speaker 5: that I get, fifteen hundred is kind of like my

751
00:31:03,000 --> 00:31:06,400
Speaker 5: number fifteen hundred and rent. The difference between the mortgage

752
00:31:06,400 --> 00:31:08,320
Speaker 5: and the run. So let's say if the mortgage is

753
00:31:08,480 --> 00:31:10,520
Speaker 5: two thousand, I need to be cut like in thirty five. Okay,

754
00:31:10,880 --> 00:31:12,600
Speaker 5: So the way I do that is basically five hundred

755
00:31:12,640 --> 00:31:14,640
Speaker 5: goals aside, and that's for your vacancy, is your repairs.

756
00:31:14,680 --> 00:31:16,560
Speaker 3: So things like it happened in the house and then

757
00:31:16,600 --> 00:31:18,920
Speaker 3: the other dollars is kind of like your profit. Okay,

758
00:31:19,120 --> 00:31:21,520
Speaker 3: that's the minimum that you want. That's yeah, hudle thumb

759
00:31:21,560 --> 00:31:23,280
Speaker 3: for me for my area. That's kind of like, you know,

760
00:31:23,360 --> 00:31:25,160
Speaker 3: if those are the numbers, then the it's a keeper

761
00:31:25,280 --> 00:31:27,200
Speaker 3: then and I go through. I'll go through on the deal.

762
00:31:27,520 --> 00:31:29,040
Speaker 7: If those are not the numbers and I just kind

763
00:31:29,080 --> 00:31:29,960
Speaker 7: of like pass up on the deal.

764
00:31:30,000 --> 00:31:31,600
Speaker 3: Do you have a minimum as far as the value

765
00:31:31,640 --> 00:31:32,880
Speaker 3: of the home, like you want to get it for

766
00:31:33,200 --> 00:31:36,080
Speaker 3: at least fifty thousand under its market value or something

767
00:31:36,120 --> 00:31:36,280
Speaker 3: like that.

768
00:31:38,200 --> 00:31:40,440
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Speaker 5: Yes, going back to like the formula is basically the

810
00:34:03,560 --> 00:34:06,640
Speaker 5: value of the property. Then I look for what can

811
00:34:06,680 --> 00:34:08,279
Speaker 5: I catch this out for? Like, right now, I have

812
00:34:08,320 --> 00:34:10,359
Speaker 5: the lender who gives me seventy five percent lot of value,

813
00:34:10,400 --> 00:34:14,200
Speaker 5: so I already know value. Multiply that by the seventy

814
00:34:14,239 --> 00:34:17,200
Speaker 5: five percent. Let's just say the numbers is two hundred,

815
00:34:17,520 --> 00:34:19,520
Speaker 5: so kind of I use two hundred as my mark, right,

816
00:34:19,560 --> 00:34:21,080
Speaker 5: and I'll say, okay, now I have the two hundred

817
00:34:21,080 --> 00:34:23,279
Speaker 5: thousand my hair. Look at how much you know I'm

818
00:34:23,280 --> 00:34:25,800
Speaker 5: paying for the property. Let's just say it's there's one hundred.

819
00:34:26,200 --> 00:34:28,560
Speaker 5: That's one hundred spread. Now I look at how much

820
00:34:28,640 --> 00:34:30,800
Speaker 5: is gonna cost me to renovate. It's gonna cost me

821
00:34:30,840 --> 00:34:33,080
Speaker 5: a hundred to renovate, and then cash out is kind

822
00:34:33,080 --> 00:34:35,600
Speaker 5: of like two hundred. There's two hundred basically, like there's

823
00:34:35,680 --> 00:34:38,200
Speaker 5: no there's no money in there basically, so it's kind

824
00:34:38,200 --> 00:34:39,880
Speaker 5: of like there's one hundred. Then I have to be like,

825
00:34:39,960 --> 00:34:41,759
Speaker 5: let's say one fifth or even one seventy five, so

826
00:34:41,880 --> 00:34:43,759
Speaker 5: that once I'm done renovating, I do the cash out,

827
00:34:43,800 --> 00:34:46,120
Speaker 5: I'm actually able to get my money back. Like the

828
00:34:46,200 --> 00:34:48,120
Speaker 5: go is not so much to make a profit on

829
00:34:48,200 --> 00:34:50,080
Speaker 5: the cash out, but just to at least get your

830
00:34:50,120 --> 00:34:50,680
Speaker 5: money back so you.

831
00:34:50,680 --> 00:34:52,680
Speaker 7: Can move on to the next one. Because if you

832
00:34:52,760 --> 00:34:54,880
Speaker 7: do it correctly, if let's say you have.

833
00:34:56,440 --> 00:35:00,040
Speaker 5: Thousand dollars to buy a property, you go out, you

834
00:35:00,160 --> 00:35:03,080
Speaker 5: buy a property, you renovate it, you rent it, and

835
00:35:03,160 --> 00:35:04,920
Speaker 5: then you cash it out. If you guys need to

836
00:35:04,960 --> 00:35:08,399
Speaker 5: get back your thirty thousand, and it's like let's say

837
00:35:08,440 --> 00:35:10,520
Speaker 5: it's from it will take you six months to do that.

838
00:35:11,000 --> 00:35:13,000
Speaker 5: So six months later, basically you got your thirty you know,

839
00:35:13,040 --> 00:35:14,120
Speaker 5: you got your thirty thousand.

840
00:35:13,880 --> 00:35:14,839
Speaker 3: Dollars back, and do that again.

841
00:35:14,880 --> 00:35:16,919
Speaker 5: So like it's kind of like with that same money

842
00:35:17,239 --> 00:35:19,279
Speaker 5: every six months you can buy a property or every

843
00:35:19,320 --> 00:35:20,719
Speaker 5: three months depending how fast you move.

844
00:35:21,080 --> 00:35:22,759
Speaker 3: And you're taking your money after some people will clear

845
00:35:22,800 --> 00:35:26,080
Speaker 3: you're taking your money out. Be it not home equity loans, right,

846
00:35:26,160 --> 00:35:28,960
Speaker 3: you're taking your money out, no to hard money, like

847
00:35:29,120 --> 00:35:33,360
Speaker 3: not just the hard money. So keyword is acid based lender.

848
00:35:33,719 --> 00:35:34,600
Speaker 3: Acid based lender.

849
00:35:34,680 --> 00:35:37,760
Speaker 5: Yes, it's income based lenders will be like your Wells Fargo,

850
00:35:37,880 --> 00:35:39,759
Speaker 5: your Bank of America, you know, your local bank. Third

851
00:35:39,760 --> 00:35:41,520
Speaker 5: the income based you know, you go to them, they

852
00:35:41,600 --> 00:35:43,320
Speaker 5: want to see the top credit score, they want to

853
00:35:43,400 --> 00:35:45,239
Speaker 5: you know, they want to see that you have a

854
00:35:45,400 --> 00:35:46,440
Speaker 5: really good income taxes.

855
00:35:46,480 --> 00:35:49,160
Speaker 7: You know, they're actually making good money. Yourself me, all

856
00:35:49,200 --> 00:35:50,480
Speaker 7: of my money comes from real estate.

857
00:35:50,520 --> 00:35:52,880
Speaker 3: So when I go to a bank, and you know.

858
00:35:52,840 --> 00:35:54,160
Speaker 5: I still try it out once in a while because

859
00:35:54,160 --> 00:35:55,640
Speaker 5: they got a really good interest right now, always getting

860
00:35:55,640 --> 00:35:57,359
Speaker 5: that for the loans, because it's like all they see

861
00:35:57,480 --> 00:35:59,800
Speaker 5: is like, oh, they just see all these expenses. Everything's

862
00:35:59,800 --> 00:36:02,200
Speaker 5: come from real estate. So for them, it's like, oh

863
00:36:02,239 --> 00:36:03,399
Speaker 5: my god, it's like such a high risk.

864
00:36:03,560 --> 00:36:04,839
Speaker 3: You know, we can't we can't rap with them.

865
00:36:05,160 --> 00:36:06,920
Speaker 5: But when you go to these asset based lender, they

866
00:36:06,960 --> 00:36:08,520
Speaker 5: don't see any of that. All they're seeing is like,

867
00:36:08,560 --> 00:36:10,120
Speaker 5: what is the house? Like, this is the house right now?

868
00:36:10,440 --> 00:36:12,120
Speaker 5: What how much you think is worth?

869
00:36:12,320 --> 00:36:14,319
Speaker 3: It's worth this much? All right? This is how much?

870
00:36:14,360 --> 00:36:15,880
Speaker 5: Right now? There's how much some collecting the rent. So

871
00:36:15,880 --> 00:36:17,279
Speaker 5: it's like all right, cool, yeah, you can give you

872
00:36:17,320 --> 00:36:17,759
Speaker 5: the loan on that.

873
00:36:17,920 --> 00:36:19,800
Speaker 3: So outside of hard money lenders, who else is the

874
00:36:19,880 --> 00:36:20,880
Speaker 3: asset based slender?

875
00:36:21,320 --> 00:36:24,759
Speaker 7: Asset based lender the one I used right now, they're

876
00:36:24,760 --> 00:36:25,280
Speaker 7: called Visio.

877
00:36:25,840 --> 00:36:30,480
Speaker 3: They're like they're like companies, Yeah, the companies nation companies. No, no,

878
00:36:30,680 --> 00:36:34,480
Speaker 3: this is no. They're nationwide legit bank companies. But they

879
00:36:34,560 --> 00:36:36,799
Speaker 3: just work with investors. What's the one that you use?

880
00:36:37,920 --> 00:36:40,359
Speaker 7: Visual lengthing is the one that I'm currently using right now.

881
00:36:40,560 --> 00:36:41,200
Speaker 3: That's another thing too.

882
00:36:41,239 --> 00:36:42,600
Speaker 5: I mean, you got to keep these guys in rotation

883
00:36:42,640 --> 00:36:45,560
Speaker 5: because it's like the other lender that I use before,

884
00:36:45,560 --> 00:36:46,680
Speaker 5: they will give me seventy percent.

885
00:36:46,719 --> 00:36:49,200
Speaker 3: Now this one gets seventy five percent. That five percent

886
00:36:49,280 --> 00:36:50,120
Speaker 3: that's a huge difference.

887
00:36:50,120 --> 00:36:50,279
Speaker 9: You know.

888
00:36:50,840 --> 00:36:53,320
Speaker 5: It's if you're talking about three hundred thousand do the

889
00:36:53,400 --> 00:36:54,920
Speaker 5: house that's fifteen thousand.

890
00:36:54,640 --> 00:36:57,360
Speaker 3: Dollars, what's the interest rate usually from that compared to

891
00:36:57,400 --> 00:36:58,640
Speaker 3: like a regular traditional.

892
00:36:58,320 --> 00:37:00,920
Speaker 7: Bin the traditional bank my choice with like five percent.

893
00:37:00,960 --> 00:37:02,960
Speaker 3: These guys are choice like a six and a half. Yeah,

894
00:37:03,040 --> 00:37:06,240
Speaker 3: and then it's a five year arm so after.

895
00:37:06,160 --> 00:37:08,120
Speaker 7: Five years you have to either sell a house and

896
00:37:08,239 --> 00:37:08,880
Speaker 7: have to refive.

897
00:37:09,800 --> 00:37:12,280
Speaker 2: And we kind of spoke off camera, but we said, harmoney,

898
00:37:12,360 --> 00:37:14,239
Speaker 2: anybody could be a hard money lender, right to do

899
00:37:14,320 --> 00:37:16,160
Speaker 2: it individually or you can team up with a bunch

900
00:37:16,160 --> 00:37:18,160
Speaker 2: of people exactly. And I think one of the other

901
00:37:18,239 --> 00:37:21,160
Speaker 2: things is that the timeframe, right, the timeframe when they

902
00:37:21,239 --> 00:37:23,040
Speaker 2: want their money back is obviously a lot different, right,

903
00:37:23,080 --> 00:37:24,759
Speaker 2: this is not a thirty year thing, right, they want

904
00:37:24,760 --> 00:37:26,279
Speaker 2: their money back then, like, what are some of the

905
00:37:26,360 --> 00:37:26,880
Speaker 2: time frames?

906
00:37:27,120 --> 00:37:29,280
Speaker 5: Well, hard money lenders they want their money back ideally

907
00:37:29,360 --> 00:37:30,960
Speaker 5: like in one year. They might give an extension for

908
00:37:30,960 --> 00:37:34,279
Speaker 5: another six months or another year. With these cash up

909
00:37:34,560 --> 00:37:36,960
Speaker 5: has to base lenders. They'll give you loans for a

910
00:37:37,040 --> 00:37:40,960
Speaker 5: fixed for five years like the thirty year mortgage, but

911
00:37:41,080 --> 00:37:43,480
Speaker 5: basically is like an interest race for five years, seven years,

912
00:37:43,560 --> 00:37:43,960
Speaker 5: or ten years.

913
00:37:44,239 --> 00:37:46,239
Speaker 3: But after you know, at one point they want you

914
00:37:46,320 --> 00:37:48,520
Speaker 3: to either you know, refive them out sell the house,

915
00:37:49,080 --> 00:37:50,960
Speaker 3: or you could go with the thirty year program. But

916
00:37:51,000 --> 00:37:51,600
Speaker 3: the interest rates.

917
00:37:51,480 --> 00:37:52,680
Speaker 5: Gonna be like h you might look at like an

918
00:37:52,719 --> 00:37:54,880
Speaker 5: eight and a half nine percent, So I'd rather just

919
00:37:54,920 --> 00:37:56,719
Speaker 5: go with the short terms. I figured, you know, five

920
00:37:56,800 --> 00:37:58,960
Speaker 5: years for me is like a long time, and I'm

921
00:37:59,040 --> 00:38:01,840
Speaker 5: constantly evolving in real estate. So I figured, like, you know,

922
00:38:02,400 --> 00:38:04,600
Speaker 5: get the lower interest rate just to increase the cash flow,

923
00:38:04,880 --> 00:38:06,360
Speaker 5: and then in five years, I'll figure it out, you

924
00:38:06,400 --> 00:38:07,600
Speaker 5: know what, the next So.

925
00:38:07,640 --> 00:38:09,440
Speaker 3: What do you usually do in five years? What do

926
00:38:09,480 --> 00:38:10,799
Speaker 3: you do? What's your game plan?

927
00:38:11,239 --> 00:38:13,200
Speaker 5: But let's just say right now, I work with my

928
00:38:13,320 --> 00:38:17,000
Speaker 5: portfolio right now, right now, I just started building brand

929
00:38:17,040 --> 00:38:18,040
Speaker 5: new construction houses.

930
00:38:18,600 --> 00:38:19,560
Speaker 3: Those I'm not going to keep.

931
00:38:20,800 --> 00:38:22,799
Speaker 5: Had I done new construction a couple of years ago,

932
00:38:22,920 --> 00:38:25,799
Speaker 5: I definitely would have kept them. But my mindset right

933
00:38:25,840 --> 00:38:27,880
Speaker 5: now is to develop buildings. And I already have the

934
00:38:27,960 --> 00:38:30,440
Speaker 5: land to start developing buildings, but I feel like that's

935
00:38:30,560 --> 00:38:31,880
Speaker 5: like too far to reach for me right now.

936
00:38:32,000 --> 00:38:33,239
Speaker 3: Yeah, So what I'm gonna do.

937
00:38:33,239 --> 00:38:35,760
Speaker 5: I'm gonna up selling about from ten to fifteen new construction.

938
00:38:36,440 --> 00:38:39,840
Speaker 5: Sell those, get that money, and then start building the buildings.

939
00:38:40,120 --> 00:38:42,279
Speaker 5: So like in five years, I already have a couple

940
00:38:42,280 --> 00:38:44,680
Speaker 5: of buildings. Once I start developing the buildings, Let's say,

941
00:38:44,680 --> 00:38:46,879
Speaker 5: if I develop a thirty in the building, I'm gonna

942
00:38:46,880 --> 00:38:49,840
Speaker 5: start unloading thirty unions of these like smaller properties, like

943
00:38:49,880 --> 00:38:51,360
Speaker 5: I don't want to deal with like the headque of

944
00:38:51,360 --> 00:38:52,080
Speaker 5: these smaller ones.

945
00:38:51,960 --> 00:38:53,680
Speaker 3: When I have thirty tens in one section.

946
00:38:54,200 --> 00:38:58,000
Speaker 2: If this sounds like monopoly, it is like I really

947
00:38:58,120 --> 00:39:00,880
Speaker 2: watched your vision board and like the last board is

948
00:39:00,960 --> 00:39:02,920
Speaker 2: like and when I get all these things, I'll have

949
00:39:03,040 --> 00:39:05,440
Speaker 2: my monopoly. So you're starting with the little the little

950
00:39:05,920 --> 00:39:08,600
Speaker 2: greenhouses until you can get the red building right and

951
00:39:08,680 --> 00:39:10,720
Speaker 2: once you start doing that, three three.

952
00:39:10,640 --> 00:39:14,040
Speaker 3: Greenhouses in one red hotel, that's that's hotel hotel. If

953
00:39:14,040 --> 00:39:16,560
Speaker 3: you understand me, now I'll sell all the topics stand monopoly,

954
00:39:16,560 --> 00:39:18,200
Speaker 3: you can understand how to make money in this world.

955
00:39:18,600 --> 00:39:19,480
Speaker 3: I'm gonna take this right now.

956
00:39:19,600 --> 00:39:23,120
Speaker 5: Like the way I play Monopoly as a kid, and

957
00:39:23,239 --> 00:39:27,040
Speaker 5: even now, that's the same way I approach realistic. It's

958
00:39:27,120 --> 00:39:29,160
Speaker 5: like my strategy when I play Monopoly is just you know,

959
00:39:29,200 --> 00:39:30,840
Speaker 5: obviously you got to go around go to just collect

960
00:39:30,840 --> 00:39:33,080
Speaker 5: that money. But whenever I land on a piece of property,

961
00:39:33,440 --> 00:39:35,200
Speaker 5: I try to get that property. Like I focus in

962
00:39:35,239 --> 00:39:37,239
Speaker 5: just getting like the property, and then you know, focus

963
00:39:37,280 --> 00:39:39,520
Speaker 5: on getting like kind of like the like the houses.

964
00:39:39,600 --> 00:39:41,120
Speaker 5: It's kind of like that sort of what I've been doing.

965
00:39:41,160 --> 00:39:42,520
Speaker 5: It's like if I see a really good deal and

966
00:39:42,560 --> 00:39:44,160
Speaker 5: I land on there, I'm.

967
00:39:44,000 --> 00:39:46,240
Speaker 3: Gonna try to get it. You know, it's like nothing't

968
00:39:46,280 --> 00:39:46,880
Speaker 3: let it pass out.

969
00:39:47,280 --> 00:39:49,279
Speaker 7: Now I own properties that are kind of like next

970
00:39:49,360 --> 00:39:49,759
Speaker 7: to each other.

971
00:39:50,239 --> 00:39:53,000
Speaker 5: If you look at a building anywhere you go and

972
00:39:53,120 --> 00:39:55,000
Speaker 5: you really size up the building, you realize.

973
00:39:54,719 --> 00:39:56,400
Speaker 3: It, like, you know what, it's not that big of

974
00:39:56,480 --> 00:39:56,839
Speaker 3: a land.

975
00:39:57,400 --> 00:39:59,279
Speaker 5: It's just that a small piece of land. They just

976
00:39:59,400 --> 00:40:01,080
Speaker 5: they just went, I'm pretty high up and they have

977
00:40:01,160 --> 00:40:03,319
Speaker 5: all these units. So and then the city is where

978
00:40:03,320 --> 00:40:04,759
Speaker 5: you're gonna find the buildings. You're not gonna find them

979
00:40:04,800 --> 00:40:07,279
Speaker 5: in the suburbs. So now if you basically it's sort

980
00:40:07,320 --> 00:40:09,480
Speaker 5: of just like monopoly to get you know, four properties,

981
00:40:09,520 --> 00:40:11,680
Speaker 5: and on those four properties like the probabuilding.

982
00:40:12,520 --> 00:40:15,080
Speaker 3: All right, So that leads perfect segue into our next

983
00:40:15,680 --> 00:40:18,480
Speaker 3: segment where we're gonna talk about your next level of

984
00:40:18,520 --> 00:40:20,799
Speaker 3: what you're doing, which we was just briefly talking about.

985
00:40:20,840 --> 00:40:23,839
Speaker 3: But we're gonna go into details for to the next level.

986
00:40:25,640 --> 00:40:28,200
Speaker 3: All right, So we're playing we're playing monopoly with real money,

987
00:40:28,320 --> 00:40:33,319
Speaker 3: like the what was that video? Presidents shouted the shout

988
00:40:33,400 --> 00:40:36,160
Speaker 3: that Jay we had the reference day. Yeah, we kept

989
00:40:36,760 --> 00:40:41,759
Speaker 3: as two players that we're gonna play with some real money,

990
00:40:41,840 --> 00:40:45,239
Speaker 3: easy game. Big. We was kind of raised off music.

991
00:40:45,400 --> 00:40:47,600
Speaker 3: That's what we we. We relate to the music a lot.

992
00:40:48,000 --> 00:40:50,040
Speaker 3: But if anybody from that era, you remember they were

993
00:40:50,040 --> 00:40:53,880
Speaker 3: playing Monopoly with real money. But it is actually really

994
00:40:54,600 --> 00:41:00,480
Speaker 3: like it Rat. It's bigger than Rat. We get his

995
00:41:00,600 --> 00:41:05,560
Speaker 3: vib So all right, so now you talked about the

996
00:41:05,640 --> 00:41:08,879
Speaker 3: blueprint as far as to buy the homes and then

997
00:41:09,080 --> 00:41:11,839
Speaker 3: to get the money out of the homes and then

998
00:41:12,160 --> 00:41:14,560
Speaker 3: buy another home and kind of keep that's like bone

999
00:41:14,600 --> 00:41:18,239
Speaker 3: what you're saying that. See, all successful people have a plan, right,

1000
00:41:18,400 --> 00:41:21,800
Speaker 3: nobody just start. We had another guest on episode eleven,

1001
00:41:21,840 --> 00:41:24,279
Speaker 3: shot Derek Falcon. He was a great episode on He's

1002
00:41:24,320 --> 00:41:27,480
Speaker 3: a restaurant own in Baltimore, and he spoke about you

1003
00:41:27,640 --> 00:41:30,320
Speaker 3: have to have a vision, right his vies like whenever

1004
00:41:30,400 --> 00:41:32,040
Speaker 3: he goes into something, he thinks about like what is

1005
00:41:32,120 --> 00:41:34,680
Speaker 3: his grandkids going to inherit? Like you know, that's like

1006
00:41:34,800 --> 00:41:37,600
Speaker 3: his play, like what's the grandkids going to inherit? Even

1007
00:41:37,640 --> 00:41:39,479
Speaker 3: though he doesn't even have kids yet, don't think.

1008
00:41:41,440 --> 00:41:41,480
Speaker 5: So.

1009
00:41:41,840 --> 00:41:45,160
Speaker 3: But so that's like you got always think three steps ahead.

1010
00:41:45,200 --> 00:41:47,560
Speaker 3: So you already you're already playing three steps ahead. Right,

1011
00:41:47,640 --> 00:41:50,480
Speaker 3: So you did the you're doing the real estate thing

1012
00:41:50,600 --> 00:41:53,839
Speaker 3: with the mixed unit well multi level homes and things

1013
00:41:53,840 --> 00:41:56,879
Speaker 3: that nature, most of them homes, but the next play

1014
00:41:57,320 --> 00:41:59,880
Speaker 3: is a bigger play, right, Yeah, so we want to

1015
00:42:00,040 --> 00:42:02,359
Speaker 3: about that in this segment. So you told me over

1016
00:42:02,400 --> 00:42:04,960
Speaker 3: the phone when we spoke, and I saw it the seminar,

1017
00:42:05,160 --> 00:42:08,200
Speaker 3: and now you're just buying plots of land, right and yeah,

1018
00:42:08,280 --> 00:42:11,920
Speaker 3: now you're a real estate developer. Yes, can you talk

1019
00:42:11,960 --> 00:42:13,960
Speaker 3: about that? Yeah.

1020
00:42:14,120 --> 00:42:16,560
Speaker 5: So a couple of months back, like I was with

1021
00:42:16,680 --> 00:42:19,280
Speaker 5: with Caesar and so we went out of political function

1022
00:42:19,840 --> 00:42:21,840
Speaker 5: and we're just you know, chopping it up. And he

1023
00:42:21,920 --> 00:42:24,960
Speaker 5: showed me email. He's like, oh, look like he's lots

1024
00:42:24,960 --> 00:42:26,640
Speaker 5: to day for sale, like you're interested.

1025
00:42:26,760 --> 00:42:29,040
Speaker 3: And I looked at him. I saw the addresses. I

1026
00:42:29,120 --> 00:42:33,320
Speaker 3: was like, man, I'm just garbage, like because people for two.

1027
00:42:33,200 --> 00:42:35,680
Speaker 2: Seconds, because when I say lots, right, a lot of

1028
00:42:35,719 --> 00:42:37,839
Speaker 2: people will think, oh, you're buying a parking lot.

1029
00:42:38,440 --> 00:42:42,480
Speaker 3: No, so that that goes over like they're like, he's

1030
00:42:42,480 --> 00:42:43,560
Speaker 3: finding their lives.

1031
00:42:43,600 --> 00:42:46,360
Speaker 7: Basically, that's where your properties, like the house is located exactly.

1032
00:42:46,480 --> 00:42:47,080
Speaker 3: Okay, thank you.

1033
00:42:47,239 --> 00:42:48,800
Speaker 7: So he looks at him, so he's like, yeah, I

1034
00:42:48,880 --> 00:42:49,560
Speaker 7: feel the same thing.

1035
00:42:49,960 --> 00:42:51,560
Speaker 5: But as I'm looking through, I saw there was one

1036
00:42:51,600 --> 00:42:54,400
Speaker 5: address that popped up and it was two lots and

1037
00:42:54,480 --> 00:42:57,120
Speaker 5: then went next to two properties that already own that

1038
00:42:57,200 --> 00:43:00,319
Speaker 5: are right next to each other. So I was like, oh, minute,

1039
00:43:01,120 --> 00:43:02,839
Speaker 5: I was been looking for that one. I was like oh,

1040
00:43:03,239 --> 00:43:04,480
Speaker 5: I was like, so, I was like, yoh, let me

1041
00:43:04,520 --> 00:43:05,800
Speaker 5: get that list. He send it over to me and

1042
00:43:05,840 --> 00:43:08,080
Speaker 5: then reached out to the Relton. But I just wanted

1043
00:43:08,120 --> 00:43:10,399
Speaker 5: those two. I wasn't interested interested in the other ones.

1044
00:43:10,560 --> 00:43:12,920
Speaker 3: Yeah. So, but the guy was like, now the seller,

1045
00:43:13,760 --> 00:43:14,560
Speaker 3: he's only.

1046
00:43:14,440 --> 00:43:17,279
Speaker 5: Willing to basically sell the whole everything together, Like he's

1047
00:43:17,320 --> 00:43:19,080
Speaker 5: not gonna just make a pick which once you want,

1048
00:43:19,680 --> 00:43:21,120
Speaker 5: So I still push for I was like, you know what,

1049
00:43:21,239 --> 00:43:23,160
Speaker 5: then I'm about it. You know, I try to squeeze

1050
00:43:23,160 --> 00:43:24,640
Speaker 5: in half of them and like put some them off

1051
00:43:24,680 --> 00:43:25,080
Speaker 5: for like half.

1052
00:43:25,120 --> 00:43:27,040
Speaker 3: He's like, nah, he wants, he wants. You know, you

1053
00:43:27,080 --> 00:43:27,719
Speaker 3: gotta buy everything.

1054
00:43:27,800 --> 00:43:30,239
Speaker 5: So I low balled them on everything, and just with

1055
00:43:30,360 --> 00:43:31,840
Speaker 5: the idea, I said, you know what, I'm going to

1056
00:43:31,920 --> 00:43:33,640
Speaker 5: buy everything. And as soon as I buy it, did

1057
00:43:33,680 --> 00:43:34,880
Speaker 5: the numbers that if he gives it to me at

1058
00:43:34,920 --> 00:43:37,520
Speaker 5: this price, I could just throw it back on the market,

1059
00:43:37,640 --> 00:43:39,920
Speaker 5: just make a few a few dollars on it, so

1060
00:43:41,040 --> 00:43:41,920
Speaker 5: get into the process.

1061
00:43:41,920 --> 00:43:44,040
Speaker 3: I ended up going on the contract. As I'm going

1062
00:43:44,080 --> 00:43:45,600
Speaker 3: on the contract, I'm started doing more research.

1063
00:43:46,040 --> 00:43:49,400
Speaker 5: I started researching brand new constructions, and I noticed that

1064
00:43:49,640 --> 00:43:54,000
Speaker 5: they were selling for like three fifty three thirty three

1065
00:43:54,440 --> 00:43:58,640
Speaker 5: sixty And I realized that they are new constructions. But

1066
00:43:58,719 --> 00:44:00,960
Speaker 5: these new constructions were built in two thousand and three.

1067
00:44:02,160 --> 00:44:05,000
Speaker 5: Now these will be built in twenty eighteen, So it's

1068
00:44:05,040 --> 00:44:06,719
Speaker 5: like waiting. That means that these have to be worth

1069
00:44:06,760 --> 00:44:09,560
Speaker 5: a lot more than so at least three seventy five.

1070
00:44:10,680 --> 00:44:13,640
Speaker 5: So so so I figured, I, so the key's like

1071
00:44:13,840 --> 00:44:15,920
Speaker 5: no number one, you gotta know what you can. You

1072
00:44:15,920 --> 00:44:17,799
Speaker 5: saw something for so like I had three seventy five,

1073
00:44:18,280 --> 00:44:20,560
Speaker 5: So now how much am I paying for these lasts?

1074
00:44:21,040 --> 00:44:23,439
Speaker 3: On average? I was like paying like twenty five twenty

1075
00:44:24,160 --> 00:44:27,279
Speaker 3: five thousand. How many left did you buy? Twenty two? Well,

1076
00:44:27,360 --> 00:44:30,239
Speaker 3: twenty five thousand a piece, twenty five thousand a piece here,

1077
00:44:30,280 --> 00:44:31,840
Speaker 3: and there was like another like a two family under that.

1078
00:44:31,840 --> 00:44:34,680
Speaker 3: They just kind of like the win. How do you do?

1079
00:44:34,840 --> 00:44:36,239
Speaker 3: How do you how do you buy lots? You buy

1080
00:44:36,280 --> 00:44:38,359
Speaker 3: any cash? So you can you get like a moan

1081
00:44:38,480 --> 00:44:40,360
Speaker 3: for that. Yeah, that was like a message.

1082
00:44:40,440 --> 00:44:42,080
Speaker 5: But I'm colling up like the hard money numbers that

1083
00:44:42,080 --> 00:44:43,960
Speaker 5: I use, and they're like, we don't know what I'm

1084
00:44:44,000 --> 00:44:44,600
Speaker 5: vacant lost.

1085
00:44:44,880 --> 00:44:46,880
Speaker 3: I was like, wait on okay, I just put up.

1086
00:44:48,800 --> 00:44:51,160
Speaker 3: I just put up like twenty thousand dollars non refundable

1087
00:44:51,200 --> 00:44:53,040
Speaker 3: with you. You can't know me on this, Like now

1088
00:44:53,120 --> 00:44:54,800
Speaker 3: you know what you gotta put up like fifty percent.

1089
00:44:55,000 --> 00:44:56,160
Speaker 3: I was like, shit, I can't. I was like, no,

1090
00:44:56,239 --> 00:44:56,840
Speaker 3: that's too much, is it.

1091
00:44:56,920 --> 00:44:59,080
Speaker 5: Then I started making pocals and I start explaining to them,

1092
00:44:59,400 --> 00:45:00,319
Speaker 5: you know how to come the stage.

1093
00:45:00,320 --> 00:45:01,520
Speaker 3: Do you know how much business we've done.

1094
00:45:01,560 --> 00:45:08,279
Speaker 2: You've got some great context if I close myationship, really

1095
00:45:08,320 --> 00:45:09,000
Speaker 2: good relationships.

1096
00:45:09,080 --> 00:45:09,200
Speaker 3: Man.

1097
00:45:09,239 --> 00:45:11,400
Speaker 5: So I'm a quiet guy, like you know another like

1098
00:45:11,480 --> 00:45:12,960
Speaker 5: a big speaker, but you know when it comes to

1099
00:45:13,040 --> 00:45:14,360
Speaker 5: like you know, business and stuff, and then get on

1100
00:45:14,440 --> 00:45:16,000
Speaker 5: that phone, it's like, you know, I started, like I start.

1101
00:45:15,840 --> 00:45:19,080
Speaker 7: Transforming man, like like Michael Jackson gets on stage. You know,

1102
00:45:19,160 --> 00:45:21,520
Speaker 7: quiet do off stage, but on stage has the performance

1103
00:45:21,520 --> 00:45:22,040
Speaker 7: showtimes so.

1104
00:45:23,680 --> 00:45:24,200
Speaker 3: Long time shot.

1105
00:45:24,239 --> 00:45:26,520
Speaker 5: I convinced them to loan me and uh and they

1106
00:45:26,560 --> 00:45:28,160
Speaker 5: were willing to do. You know, the lender was waiting

1107
00:45:28,200 --> 00:45:30,880
Speaker 5: to do twenty percent. One thing about these lots that

1108
00:45:30,920 --> 00:45:32,719
Speaker 5: I picked up though, is that because they're located in

1109
00:45:32,800 --> 00:45:37,160
Speaker 5: urban areas, they're located in redevelopment zones, which meant that

1110
00:45:37,400 --> 00:45:40,560
Speaker 5: the city has these kind of sort of like set

1111
00:45:40,640 --> 00:45:43,560
Speaker 5: idea of what you can build on these lots, and

1112
00:45:43,719 --> 00:45:46,279
Speaker 5: if you meet the square footage and what they want,

1113
00:45:46,840 --> 00:45:48,279
Speaker 5: then you don't need to go in front of the

1114
00:45:48,360 --> 00:45:48,879
Speaker 5: zoning board.

1115
00:45:49,320 --> 00:45:51,880
Speaker 3: You can just basically submit pay Like just.

1116
00:45:51,880 --> 00:45:55,399
Speaker 5: Submit plans to the building department is just like taking

1117
00:45:55,440 --> 00:45:57,520
Speaker 5: out a permit on a whole new construction.

1118
00:45:58,440 --> 00:46:00,600
Speaker 3: So that allowed me to let these out.

1119
00:46:00,640 --> 00:46:02,080
Speaker 5: So as soon as I close, I was able to

1120
00:46:02,440 --> 00:46:05,399
Speaker 5: get with the architect and sim it all the paper

1121
00:46:05,400 --> 00:46:07,839
Speaker 5: we can. I already have permits on five, which means

1122
00:46:07,840 --> 00:46:11,200
Speaker 5: I already have the financing in place to build these five.

1123
00:46:12,239 --> 00:46:14,520
Speaker 3: What's the permits you talk about that when when we

1124
00:46:14,600 --> 00:46:17,839
Speaker 3: first spoke, you had to have the permits? Like it's

1125
00:46:17,880 --> 00:46:19,680
Speaker 3: a process, right when you buy a land, Like it's

1126
00:46:19,719 --> 00:46:20,760
Speaker 3: different than just buying.

1127
00:46:20,560 --> 00:46:22,719
Speaker 5: A home, right, so yeah, yeah, when you yeah, but

1128
00:46:22,800 --> 00:46:24,680
Speaker 5: when you buy a land, is it's more complicated because

1129
00:46:24,680 --> 00:46:26,520
Speaker 5: it's like banks don't really want to loan online.

1130
00:46:26,239 --> 00:46:28,080
Speaker 3: Because what do you have just have dirt. Basically, you know,

1131
00:46:28,160 --> 00:46:30,600
Speaker 3: it's like no, no, no property, there's no cash flow,

1132
00:46:30,719 --> 00:46:32,239
Speaker 3: nothing on it. It's just basically baking lots.

1133
00:46:32,760 --> 00:46:35,040
Speaker 5: And in most places when you buy a lot, you

1134
00:46:35,160 --> 00:46:36,600
Speaker 5: have to go in front of the zone board, which

1135
00:46:36,640 --> 00:46:39,879
Speaker 5: can take a year before you can start building up these.

1136
00:46:40,000 --> 00:46:41,440
Speaker 3: You know, fortunately I was able to kind of like

1137
00:46:41,480 --> 00:46:42,120
Speaker 3: build right away.

1138
00:46:42,640 --> 00:46:45,320
Speaker 5: So now going back to like the numbers basically, like

1139
00:46:45,400 --> 00:46:47,600
Speaker 5: so three seventy five and twenty five for the lot,

1140
00:46:47,640 --> 00:46:51,200
Speaker 5: that puts me like a three fifty. So now the

1141
00:46:51,280 --> 00:46:54,480
Speaker 5: difference between now, let's say a few years back is

1142
00:46:54,600 --> 00:46:56,360
Speaker 5: like the market where is that now where it was

1143
00:46:56,360 --> 00:46:57,759
Speaker 5: a few years back. If we go back like three

1144
00:46:57,840 --> 00:46:59,640
Speaker 5: years you built on a new construction home, you were

1145
00:46:59,719 --> 00:47:02,120
Speaker 5: lucky to get two fifty maybe two seventy five for it.

1146
00:47:02,640 --> 00:47:04,040
Speaker 5: But now thinking about it, now, let's say it if

1147
00:47:04,080 --> 00:47:06,600
Speaker 5: it costs you two twenty five to bill and you're

1148
00:47:06,600 --> 00:47:08,600
Speaker 5: gonna sell it for two fifty years, you're almost like

1149
00:47:08,640 --> 00:47:11,359
Speaker 5: bricking ethan basically, or even like, you know, two seventy five,

1150
00:47:11,400 --> 00:47:13,520
Speaker 5: I'm real to make much money. So now then you

1151
00:47:13,600 --> 00:47:15,799
Speaker 5: can go three seventy five. That gives an extra whole

1152
00:47:15,880 --> 00:47:18,480
Speaker 5: hundred thousand. So that makes a big difference. So that

1153
00:47:18,680 --> 00:47:20,200
Speaker 5: kind of changed over my mind. I said, you know what,

1154
00:47:20,320 --> 00:47:23,120
Speaker 5: why am I gonna not do complete renovations when I

1155
00:47:23,160 --> 00:47:25,960
Speaker 5: could just basically build all these homes. So now instead

1156
00:47:26,000 --> 00:47:28,600
Speaker 5: of grabbing the lots, keeping the ones that I want

1157
00:47:28,680 --> 00:47:29,840
Speaker 5: to send off the other ones and saying no, I

1158
00:47:29,880 --> 00:47:31,960
Speaker 5: forget that, I'm gonna basically get all these lots and

1159
00:47:32,000 --> 00:47:32,920
Speaker 5: I'm gonna build all of them.

1160
00:47:33,280 --> 00:47:35,279
Speaker 3: So can we go back a little bit because you

1161
00:47:35,360 --> 00:47:36,120
Speaker 3: said season had a.

1162
00:47:36,200 --> 00:47:38,839
Speaker 2: List, right and it was twenty two you're twenty two lots.

1163
00:47:39,239 --> 00:47:41,160
Speaker 2: Where does someone even see that list? Like, is that

1164
00:47:41,239 --> 00:47:42,640
Speaker 2: at an auction of where we're getting that? We have

1165
00:47:42,719 --> 00:47:43,919
Speaker 2: to go a kind of clerk or something.

1166
00:47:44,160 --> 00:47:45,640
Speaker 3: No, No, that's just relationships.

1167
00:47:46,040 --> 00:47:50,280
Speaker 5: It's basically when you're known, you know, for making deals,

1168
00:47:50,640 --> 00:47:52,480
Speaker 5: deals will pop up on your email, like you know,

1169
00:47:52,520 --> 00:47:54,160
Speaker 5: I get phone calls all the time like hey, listen,

1170
00:47:54,200 --> 00:47:55,480
Speaker 5: I got this deal, and it's like, you know, it's

1171
00:47:55,480 --> 00:47:56,960
Speaker 5: a good deal of John vardem it's not a good deal.

1172
00:47:57,000 --> 00:47:58,759
Speaker 3: Now I'll let it go. A lot of times you've

1173
00:47:58,760 --> 00:47:59,920
Speaker 3: been telling me like, hello, you ever let go one

1174
00:48:00,040 --> 00:48:02,080
Speaker 3: those deals? Is this?

1175
00:48:02,200 --> 00:48:04,080
Speaker 5: It's like you don't want it because it's like if

1176
00:48:04,160 --> 00:48:05,360
Speaker 5: this is the reason if I let it go is

1177
00:48:05,400 --> 00:48:06,200
Speaker 5: because it's not a good deal.

1178
00:48:06,520 --> 00:48:08,680
Speaker 7: If it's a good deal, I'm going to somehow someway

1179
00:48:08,680 --> 00:48:09,480
Speaker 7: I'm gonna make appen.

1180
00:48:09,960 --> 00:48:13,799
Speaker 3: So all right, So okay, So now you're building homes, right,

1181
00:48:15,000 --> 00:48:17,800
Speaker 3: So when you you're building homes from scratch? Right? What

1182
00:48:17,960 --> 00:48:20,439
Speaker 3: kind of homes are you building? How do you build

1183
00:48:20,480 --> 00:48:23,080
Speaker 3: a home? Who do you have? Contract? Like? How does

1184
00:48:23,160 --> 00:48:26,160
Speaker 3: danet happen? So? All right? So I mean, first of all,

1185
00:48:26,280 --> 00:48:28,400
Speaker 3: you know, the idea of building something from the ground up.

1186
00:48:28,719 --> 00:48:31,279
Speaker 3: Was was scared. I was like, I've never done it.

1187
00:48:31,480 --> 00:48:32,640
Speaker 3: It's like, how am I going to do this?

1188
00:48:33,680 --> 00:48:36,000
Speaker 5: But you know, going back to the whole renovation schedule,

1189
00:48:36,040 --> 00:48:37,400
Speaker 5: when you map it out and you like kind of

1190
00:48:37,440 --> 00:48:40,680
Speaker 5: break everything up into pieces. It's like when you do

1191
00:48:41,280 --> 00:48:45,040
Speaker 5: a complete renovation, the first thing that I basically look for,

1192
00:48:45,239 --> 00:48:46,560
Speaker 5: you know, you need to cut the property.

1193
00:48:46,680 --> 00:48:48,680
Speaker 3: Once you cut the property, then you go to the framing.

1194
00:48:49,120 --> 00:48:50,640
Speaker 5: You know, it's like a system, and from framing you

1195
00:48:50,719 --> 00:48:53,759
Speaker 5: go to you want to do the plumbing, Then you

1196
00:48:53,840 --> 00:48:56,040
Speaker 5: do the electric, you know, then it comes the installation,

1197
00:48:56,120 --> 00:48:56,880
Speaker 5: it comes to driveaball.

1198
00:48:56,960 --> 00:48:58,839
Speaker 7: So it's like a process of step you just kind

1199
00:48:58,840 --> 00:48:59,919
Speaker 7: of map it out step by step.

1200
00:49:00,480 --> 00:49:02,759
Speaker 5: So, now if you put complete renovation on one side,

1201
00:49:02,800 --> 00:49:04,600
Speaker 5: you put new construction on the other side, what's the

1202
00:49:04,640 --> 00:49:07,640
Speaker 5: difference between the two. The only difference is that on

1203
00:49:07,760 --> 00:49:12,279
Speaker 5: a on a car, on a new construction, you need

1204
00:49:12,800 --> 00:49:16,200
Speaker 5: foundation and you need framing. Once you have foundation and framing,

1205
00:49:16,200 --> 00:49:18,080
Speaker 5: pretty much what you have is like the skeleton of

1206
00:49:18,120 --> 00:49:19,960
Speaker 5: a house. When you buy a house and you do

1207
00:49:20,040 --> 00:49:22,760
Speaker 5: a gun renovation, that's all you left with the skeleton

1208
00:49:22,800 --> 00:49:25,560
Speaker 5: of the house. So now if so I kind of

1209
00:49:25,640 --> 00:49:26,880
Speaker 5: like really did the math. I was like, oh, if

1210
00:49:26,880 --> 00:49:29,000
Speaker 5: I picked up the last of twenty five, how much

1211
00:49:29,040 --> 00:49:29,920
Speaker 5: can it really cost me to.

1212
00:49:29,920 --> 00:49:30,520
Speaker 3: Do a foundation?

1213
00:49:30,840 --> 00:49:32,520
Speaker 5: And I just you know, I figured, you know what

1214
00:49:32,960 --> 00:49:34,480
Speaker 5: made you know, made some phone calls just you know,

1215
00:49:34,760 --> 00:49:37,040
Speaker 5: contractors giving me prices and like most people.

1216
00:49:36,880 --> 00:49:39,520
Speaker 3: Say, like forty thousand for cement.

1217
00:49:39,680 --> 00:49:42,359
Speaker 5: Up forty thousand you're just theed just the foundation out

1218
00:49:42,520 --> 00:49:44,279
Speaker 5: so it's like a forty thousand, And made some other

1219
00:49:44,280 --> 00:49:45,640
Speaker 5: phone because how much is you know for the frame

1220
00:49:45,719 --> 00:49:47,440
Speaker 5: this thing? It came up to price like forty thousand,

1221
00:49:47,480 --> 00:49:50,000
Speaker 5: like eighty so now eighty plus the twenty five that's

1222
00:49:50,000 --> 00:49:52,359
Speaker 5: one of five. I was like, I'm paying that right

1223
00:49:52,440 --> 00:49:55,840
Speaker 5: now to renovate it for like a complete renovation. And

1224
00:49:55,920 --> 00:49:58,840
Speaker 5: that's the worst case scenario right now. Being like someone

1225
00:49:58,880 --> 00:50:02,680
Speaker 5: who who who knows how to maneuver my way around construction,

1226
00:50:02,880 --> 00:50:05,880
Speaker 5: it is like those the I probably cut both of

1227
00:50:05,920 --> 00:50:08,040
Speaker 5: them down like be half how much it.

1228
00:50:08,080 --> 00:50:09,840
Speaker 3: Of course, like how much more costs to build up

1229
00:50:09,960 --> 00:50:13,279
Speaker 3: everything else? Yeah, you know right now. I mean it's

1230
00:50:13,280 --> 00:50:14,880
Speaker 3: gonna be my first rodeo. So it's kind of like

1231
00:50:14,960 --> 00:50:16,359
Speaker 3: it's just a budget that I have in my head.

1232
00:50:16,400 --> 00:50:18,319
Speaker 3: And my budget right now is like one seventy five

1233
00:50:18,719 --> 00:50:21,040
Speaker 3: and you sell that home for much three seventy five

1234
00:50:21,400 --> 00:50:22,400
Speaker 3: to make two hundred thousand.

1235
00:50:23,040 --> 00:50:25,680
Speaker 5: But then you know, minus the twenty five of the

1236
00:50:25,760 --> 00:50:27,520
Speaker 5: line and minus the closing comes out right there.

1237
00:50:27,640 --> 00:50:30,160
Speaker 7: So let's say like one fifty, like ten of them

1238
00:50:30,280 --> 00:50:31,000
Speaker 7: is like one point five.

1239
00:50:31,080 --> 00:50:32,800
Speaker 9: So what's are you selling these homes or are you

1240
00:50:33,120 --> 00:50:37,080
Speaker 9: sun like I said, like only signing them because it's

1241
00:50:37,160 --> 00:50:39,840
Speaker 9: like now, my vision is to develop buildings, so I

1242
00:50:39,880 --> 00:50:41,200
Speaker 9: already have the last for the buildings.

1243
00:50:41,280 --> 00:50:43,680
Speaker 7: I just don't have the knowledge of building the building

1244
00:50:44,000 --> 00:50:44,560
Speaker 7: and I don't.

1245
00:50:44,440 --> 00:50:47,400
Speaker 5: Have the liquid funds to get into a project like

1246
00:50:47,480 --> 00:50:50,759
Speaker 5: that because it's like I have this big portfolio and

1247
00:50:50,960 --> 00:50:52,359
Speaker 5: net worth is looking pretty nice.

1248
00:50:52,440 --> 00:50:55,320
Speaker 3: Yeah, but you know, the cash flow is looking pretty

1249
00:50:55,360 --> 00:50:56,360
Speaker 3: tight because it's kind of like.

1250
00:50:56,680 --> 00:50:58,759
Speaker 5: You know, the way I see it, once my all

1251
00:50:58,840 --> 00:51:00,960
Speaker 5: my personal bills are taken care of, is like if

1252
00:51:01,000 --> 00:51:03,799
Speaker 5: I have five thousand dollars in cash low in the month,

1253
00:51:04,400 --> 00:51:05,840
Speaker 5: the way I see it is like money has to

1254
00:51:05,920 --> 00:51:07,200
Speaker 5: work for me. I don't work for money, So it's

1255
00:51:07,280 --> 00:51:08,600
Speaker 5: kind of that money is just sitting in the back.

1256
00:51:09,080 --> 00:51:11,360
Speaker 5: I just got basically five thousand dollars and lazy in

1257
00:51:11,400 --> 00:51:13,120
Speaker 5: the back, so I got put into work so I

1258
00:51:13,120 --> 00:51:15,280
Speaker 5: don't look around and try to find like a property

1259
00:51:15,360 --> 00:51:17,000
Speaker 5: and that I know I can hold up, Like that's

1260
00:51:17,080 --> 00:51:18,799
Speaker 5: five thousand dollars worth of mortgages that I can.

1261
00:51:18,719 --> 00:51:21,040
Speaker 3: Hold up on the house until I'm ready to start,

1262
00:51:21,080 --> 00:51:25,440
Speaker 3: you know, working on it. You said money works for me.

1263
00:51:25,520 --> 00:51:26,479
Speaker 3: I don't work for money.

1264
00:51:28,080 --> 00:51:29,759
Speaker 2: I was actually going because you told myself in all

1265
00:51:29,840 --> 00:51:32,839
Speaker 2: camera he was like net worth or what was the soul?

1266
00:51:33,000 --> 00:51:35,480
Speaker 5: You said, uh no, yeah, because it's kind of like

1267
00:51:35,560 --> 00:51:38,560
Speaker 5: y'all separate things you got here, you know, your asset

1268
00:51:38,960 --> 00:51:42,239
Speaker 5: minus be your liabilities, which you know, listen, we heard that.

1269
00:51:42,719 --> 00:51:47,560
Speaker 3: You say net worth networth rich, but cash Oh yeah, networth, yeah,

1270
00:51:47,560 --> 00:51:49,160
Speaker 3: I'm networth rich for cash flow poor.

1271
00:51:49,239 --> 00:51:51,359
Speaker 5: Yeah yeah, I'm cool with that for now because it's

1272
00:51:51,360 --> 00:51:52,600
Speaker 5: like I'm trying to build up. I'm trying to, you know,

1273
00:51:52,880 --> 00:51:54,040
Speaker 5: just climb up to a certain level.

1274
00:51:54,080 --> 00:51:56,719
Speaker 2: All right, So your net worth could be thirty million, right,

1275
00:51:56,840 --> 00:51:59,839
Speaker 2: but your cash flow could be three thousand, and that's okay, right,

1276
00:52:00,200 --> 00:52:01,400
Speaker 2: exactly like I.

1277
00:52:01,440 --> 00:52:05,440
Speaker 3: Wish I had. But it's basically like yeah, like you know,

1278
00:52:05,920 --> 00:52:07,640
Speaker 3: it's two different things.

1279
00:52:07,719 --> 00:52:09,800
Speaker 5: Like it's just us raptists for example, Like you know,

1280
00:52:10,120 --> 00:52:14,480
Speaker 5: people who get these large amounts of money, they're cash rich, right, like.

1281
00:52:14,520 --> 00:52:15,919
Speaker 3: They have a lot of cash on hand.

1282
00:52:16,200 --> 00:52:17,640
Speaker 5: But the ifro I have like no net worth, you

1283
00:52:18,440 --> 00:52:20,680
Speaker 5: probably see people with like the nice cars with jewelry

1284
00:52:20,680 --> 00:52:23,359
Speaker 5: and everything, and they riding around within that worth. Yeah,

1285
00:52:23,719 --> 00:52:25,759
Speaker 5: so then you can see someone like me, I'm driving

1286
00:52:25,880 --> 00:52:29,000
Speaker 5: to yoa TSA coma. It's like I'm not studying, but

1287
00:52:29,080 --> 00:52:30,280
Speaker 5: it's like the network is looking.

1288
00:52:30,160 --> 00:52:33,439
Speaker 2: Nice, network is looking more than nice. What's the time

1289
00:52:33,520 --> 00:52:35,400
Speaker 2: frame on building from the ground up?

1290
00:52:36,080 --> 00:52:37,759
Speaker 5: That's then you know, it's just like you don't know

1291
00:52:38,560 --> 00:52:40,080
Speaker 5: when you're not familiar with something. In my mind, I

1292
00:52:40,080 --> 00:52:41,600
Speaker 5: wouldy sat out was like a year is gonna say

1293
00:52:41,640 --> 00:52:44,439
Speaker 5: to build up a house. Before I started doing the house,

1294
00:52:44,480 --> 00:52:46,000
Speaker 5: I was like six months I'm gonna build, you know

1295
00:52:46,440 --> 00:52:48,440
Speaker 5: it's going to be the time frame. Now the time

1296
00:52:48,520 --> 00:52:50,239
Speaker 5: frame is looking like three months. So I think like

1297
00:52:50,280 --> 00:52:52,400
Speaker 5: three months I could knock out house. Wow, And I

1298
00:52:52,440 --> 00:52:55,120
Speaker 5: could probably build them like two, probably like two to

1299
00:52:55,239 --> 00:52:58,279
Speaker 5: three weeks apart. So you go on my Instagram might

1300
00:52:58,280 --> 00:53:01,280
Speaker 5: now already posted two of them the cement think exactly.

1301
00:53:01,560 --> 00:53:03,440
Speaker 5: One already have the foundation, the other one I'm working

1302
00:53:03,520 --> 00:53:05,839
Speaker 5: on the footing, and then probably like another two weeks.

1303
00:53:07,200 --> 00:53:08,440
Speaker 3: One already is gonna have to frame me.

1304
00:53:08,480 --> 00:53:10,080
Speaker 5: The other one's gonna have the foundation, and I'm gonna

1305
00:53:10,080 --> 00:53:11,239
Speaker 5: be working on the footing much one.

1306
00:53:11,280 --> 00:53:12,759
Speaker 3: And it's like and they're gonna be lined up.

1307
00:53:12,719 --> 00:53:14,719
Speaker 2: Like that, and you just using the same team. He's

1308
00:53:14,760 --> 00:53:17,160
Speaker 2: time or you're like, you know what, I'm gonna capitalize

1309
00:53:17,200 --> 00:53:19,239
Speaker 2: by using different teams that I trust to work on

1310
00:53:19,320 --> 00:53:19,880
Speaker 2: these properties.

1311
00:53:20,239 --> 00:53:22,880
Speaker 5: It's like I have my core guys that I trust

1312
00:53:23,239 --> 00:53:25,000
Speaker 5: and like, I know they can handle things, and then

1313
00:53:25,080 --> 00:53:28,200
Speaker 5: it's their responsibility to build up on them. So it's

1314
00:53:28,239 --> 00:53:31,360
Speaker 5: kind of like like my project manager, his job is

1315
00:53:31,440 --> 00:53:33,520
Speaker 5: to kind of like I tell him this is what

1316
00:53:33,600 --> 00:53:35,920
Speaker 5: I want to do, and then he goes out. He

1317
00:53:36,000 --> 00:53:38,920
Speaker 5: finds the extra help, even if it means, you know,

1318
00:53:39,160 --> 00:53:41,040
Speaker 5: reaching out to a contractor to kind of help him out.

1319
00:53:41,080 --> 00:53:42,400
Speaker 5: You know, it's crazy, like if I reach out to

1320
00:53:42,440 --> 00:53:43,920
Speaker 5: a contract that, let's just say, they might tell me

1321
00:53:43,960 --> 00:53:44,479
Speaker 5: fifteen thousand.

1322
00:53:44,520 --> 00:53:46,160
Speaker 3: I tell him to reach out, he ends up getting

1323
00:53:46,160 --> 00:53:47,279
Speaker 3: it for time, you know.

1324
00:53:47,360 --> 00:53:52,399
Speaker 5: Because it's like the relationships and Mason, the concept of like, hey, listen,

1325
00:53:52,400 --> 00:53:53,920
Speaker 5: you gotta give in your prices. I need to make

1326
00:53:53,960 --> 00:53:56,279
Speaker 5: money off of this. But then you know, obviously I

1327
00:53:56,400 --> 00:53:58,000
Speaker 5: know what's going on, and the saving is getting passed

1328
00:53:58,000 --> 00:53:58,279
Speaker 5: down on me.

1329
00:53:58,440 --> 00:54:06,680
Speaker 3: Yeah. Wow, ladies and gentlemen. Once again, free education, right,

1330
00:54:06,920 --> 00:54:09,000
Speaker 3: that's a good thing about the show. Instead, it's all

1331
00:54:09,239 --> 00:54:14,400
Speaker 3: free and all of our guests are willing to provide

1332
00:54:14,440 --> 00:54:17,000
Speaker 3: information because you didn't have to, you know, tell people

1333
00:54:17,160 --> 00:54:20,520
Speaker 3: what you're doing, like you could just be selfish. Yeah, Like,

1334
00:54:20,600 --> 00:54:22,200
Speaker 3: I mean, I'll say this much is like going on.

1335
00:54:22,400 --> 00:54:25,440
Speaker 5: When she's did the first seminar and he tells me

1336
00:54:25,560 --> 00:54:27,400
Speaker 5: you'll want to do a seminar, I was like, oh,

1337
00:54:27,480 --> 00:54:29,840
Speaker 5: that's cool, Like I remember we spoke about doing like

1338
00:54:29,880 --> 00:54:31,400
Speaker 5: little seminars, but they in churches.

1339
00:54:33,080 --> 00:54:34,520
Speaker 3: It's gonna get back to the community. Like and I

1340
00:54:34,560 --> 00:54:36,560
Speaker 3: see every time I see like, you know, a pastor.

1341
00:54:36,640 --> 00:54:38,200
Speaker 3: I've talked to the laylists. You know, I'll do real estate.

1342
00:54:38,520 --> 00:54:40,200
Speaker 5: You want me to go and speak to your congregation

1343
00:54:40,280 --> 00:54:41,440
Speaker 5: that it's like, let me know, I'll come through and

1344
00:54:41,480 --> 00:54:41,880
Speaker 5: i'll speak.

1345
00:54:42,200 --> 00:54:47,120
Speaker 3: You know, nobody's everybody, you know what I mean.

1346
00:54:47,160 --> 00:54:48,920
Speaker 5: But it's kind of like maybe now you know, it'sart

1347
00:54:48,920 --> 00:54:51,960
Speaker 5: getting phone calls and stuff, but you know, but so

1348
00:54:52,040 --> 00:54:53,520
Speaker 5: I thought that's what's gonna be. Were like, Nah, we're

1349
00:54:53,520 --> 00:54:55,400
Speaker 5: gonna do like these seminars, you know, for like I

1350
00:54:55,480 --> 00:55:00,400
Speaker 5: was like, you know, why, why do this? But then

1351
00:55:00,440 --> 00:55:02,200
Speaker 5: when I went to the first seminary, I was supposed

1352
00:55:02,239 --> 00:55:03,480
Speaker 5: mind you, I was supposed to speak at the first

1353
00:55:03,480 --> 00:55:04,480
Speaker 5: seven or right, and it's.

1354
00:55:04,280 --> 00:55:05,320
Speaker 3: Like when I get there, I was like, oh no,

1355
00:55:05,400 --> 00:55:06,120
Speaker 3: I can't speak. Man.

1356
00:55:06,280 --> 00:55:07,920
Speaker 5: It's like I'm not a public speakcause I was like, nah,

1357
00:55:08,800 --> 00:55:10,759
Speaker 5: But looking at the crowd when I seen the crowd,

1358
00:55:10,840 --> 00:55:12,640
Speaker 5: seem like everybody's like from the you know, the first

1359
00:55:12,680 --> 00:55:13,920
Speaker 5: one was the past and I've seen a lot of

1360
00:55:13,960 --> 00:55:16,320
Speaker 5: people that I know and and it just kind of

1361
00:55:16,400 --> 00:55:17,840
Speaker 5: hit me and I'm like, you know what, man, that

1362
00:55:18,239 --> 00:55:20,440
Speaker 5: was me ten fifteen years ago, and I knew nothing

1363
00:55:20,800 --> 00:55:22,800
Speaker 5: and I needed it, like somebody to kind of just

1364
00:55:23,239 --> 00:55:25,239
Speaker 5: not help me out, like giving me a hand, but

1365
00:55:25,360 --> 00:55:26,640
Speaker 5: just kind of like guiding me like some of this.

1366
00:55:26,680 --> 00:55:28,160
Speaker 3: Is you know, this is the direction, and it's kind

1367
00:55:28,200 --> 00:55:29,600
Speaker 3: of like and we came from nothing.

1368
00:55:29,719 --> 00:55:31,480
Speaker 5: So it's like I feel like when they see us,

1369
00:55:32,040 --> 00:55:33,759
Speaker 5: you know, they're not see these guys in these fantacyes too,

1370
00:55:33,760 --> 00:55:35,400
Speaker 5: they seeing themselves. So they're saying like, you know what

1371
00:55:35,560 --> 00:55:37,279
Speaker 5: if you know, if like if they did it, they

1372
00:55:37,320 --> 00:55:39,040
Speaker 5: put it they way to put into work, and you know,

1373
00:55:39,200 --> 00:55:39,840
Speaker 5: look what they're right now.

1374
00:55:39,880 --> 00:55:40,560
Speaker 3: I mean I can do it.

1375
00:55:40,600 --> 00:55:43,239
Speaker 5: So I feel like I felt I felt bad like

1376
00:55:43,520 --> 00:55:45,279
Speaker 5: that I didn't speak. I felt bad like, yeah, you

1377
00:55:45,360 --> 00:55:47,920
Speaker 5: know what, I let my fear, you know, stop me

1378
00:55:47,960 --> 00:55:49,680
Speaker 5: from going up there. Like and these people it's kind

1379
00:55:49,719 --> 00:55:51,880
Speaker 5: of like they need like that motivation, you know what

1380
00:55:51,880 --> 00:55:52,239
Speaker 5: I'm saying.

1381
00:55:52,280 --> 00:55:53,080
Speaker 3: They need that information.

1382
00:55:53,239 --> 00:55:55,200
Speaker 5: So that motivated me to kind of like you know,

1383
00:55:56,680 --> 00:55:59,520
Speaker 5: you know, to push through and then I should speak

1384
00:55:59,560 --> 00:56:01,239
Speaker 5: on stage. And I feel like it is like a

1385
00:56:01,280 --> 00:56:03,360
Speaker 5: responsibility for you know, for people like us that we

1386
00:56:03,400 --> 00:56:05,759
Speaker 5: are you know, at a at a certain you know,

1387
00:56:06,000 --> 00:56:09,040
Speaker 5: certain level where we have like this knowledge of this information,

1388
00:56:09,280 --> 00:56:11,560
Speaker 5: and it's kind of like we could keep it. But

1389
00:56:11,760 --> 00:56:13,719
Speaker 5: it's like, you know, if Tiger Woods right now showed

1390
00:56:13,719 --> 00:56:15,480
Speaker 5: you how to play golf, Michael Jordan showed you how

1391
00:56:15,480 --> 00:56:18,560
Speaker 5: to play basketball, that's not gonna then they're like exactly,

1392
00:56:18,719 --> 00:56:20,080
Speaker 5: I mean, it's still gonna be who they are. So

1393
00:56:20,120 --> 00:56:21,880
Speaker 5: I feel like, if you know, if I go out

1394
00:56:21,920 --> 00:56:23,520
Speaker 5: here and I tell you everything that I do, how

1395
00:56:23,600 --> 00:56:24,000
Speaker 5: I do it.

1396
00:56:24,080 --> 00:56:27,440
Speaker 3: You still want to regardless. Regardless. I mean, I'll tell

1397
00:56:27,440 --> 00:56:27,920
Speaker 3: you this right now.

1398
00:56:27,960 --> 00:56:30,160
Speaker 5: I mean I actually like start today and just with

1399
00:56:30,320 --> 00:56:32,520
Speaker 5: these lasts that I have, with these uh these plans

1400
00:56:32,560 --> 00:56:34,520
Speaker 5: that have with the buildings, I'm gonna stay busy for

1401
00:56:34,560 --> 00:56:37,000
Speaker 5: the next five years, and all my crew, everybody that

1402
00:56:37,040 --> 00:56:38,480
Speaker 5: works with me, they're gonna stay busy for the next

1403
00:56:38,480 --> 00:56:38,879
Speaker 5: five years.

1404
00:56:38,880 --> 00:56:39,600
Speaker 3: So we're all gonna eat.

1405
00:56:39,920 --> 00:56:41,920
Speaker 5: So it's kind of like, you know, why why I

1406
00:56:42,000 --> 00:56:44,640
Speaker 5: try to keep that information. It's kind of like, you know,

1407
00:56:44,640 --> 00:56:46,160
Speaker 5: I don't need to bring you down so I.

1408
00:56:46,200 --> 00:56:47,160
Speaker 3: Could elevate, you know what I mean.

1409
00:56:47,200 --> 00:56:49,279
Speaker 5: It's like I could elevate myself and it bring you up,

1410
00:56:49,320 --> 00:56:51,560
Speaker 5: and it's like and I'll still be up to everybody needs. Yeah,

1411
00:56:51,560 --> 00:56:55,799
Speaker 5: everybody needs everybody, especially coming from in the city. Man,

1412
00:56:55,840 --> 00:56:58,279
Speaker 5: it's like, we don't have the resources. So it's like,

1413
00:56:58,360 --> 00:56:59,840
Speaker 5: you know when you feel in the city the resources

1414
00:56:59,880 --> 00:57:02,919
Speaker 5: that we do have is like it's what everybody knows.

1415
00:57:03,040 --> 00:57:04,560
Speaker 3: Is like, you know, you have the resources, like you

1416
00:57:04,640 --> 00:57:05,320
Speaker 3: got the hustlers.

1417
00:57:05,680 --> 00:57:07,000
Speaker 5: Maybe you know what I mean, you know somebody else

1418
00:57:07,000 --> 00:57:08,440
Speaker 5: like a local data or something like that, but that's

1419
00:57:08,480 --> 00:57:09,719
Speaker 5: not real money, you know what I mean.

1420
00:57:09,760 --> 00:57:12,040
Speaker 3: It's like, you know, you might know somebody alws.

1421
00:57:11,880 --> 00:57:14,320
Speaker 5: Like one property, but you really don't know those guys,

1422
00:57:14,560 --> 00:57:17,080
Speaker 5: you know, those corporations that own these multiple big properties.

1423
00:57:17,120 --> 00:57:18,920
Speaker 5: So it's like if we're in that situation, but that's

1424
00:57:18,960 --> 00:57:21,520
Speaker 5: where we're at, then it's like and then the thing

1425
00:57:21,680 --> 00:57:23,200
Speaker 5: is like, you know, we.

1426
00:57:23,320 --> 00:57:25,240
Speaker 3: Didn't start with money, so not like we just started

1427
00:57:25,360 --> 00:57:27,280
Speaker 3: you know it was lost to money. Thing like that.

1428
00:57:27,320 --> 00:57:28,920
Speaker 5: We started from the ground up. So we started from

1429
00:57:28,960 --> 00:57:30,440
Speaker 5: the ground up. You can start from the ground up.

1430
00:57:30,600 --> 00:57:33,400
Speaker 5: And I feel like anybody could like get into real

1431
00:57:33,520 --> 00:57:35,280
Speaker 5: estate owned a couple of properties, and I feel like

1432
00:57:35,440 --> 00:57:37,480
Speaker 5: everyone should try to own a couple of properties.

1433
00:57:37,680 --> 00:57:40,480
Speaker 3: Yeah that's a fact. So once again, man, thank you

1434
00:57:40,560 --> 00:57:42,320
Speaker 3: for coming. Can you tell the people how to contact

1435
00:57:42,360 --> 00:57:44,560
Speaker 3: you your social media handles and all that. Yeah, yeah,

1436
00:57:44,720 --> 00:57:45,480
Speaker 3: like social media.

1437
00:57:45,600 --> 00:57:47,040
Speaker 7: You know you find me on social media, go buy

1438
00:57:47,280 --> 00:57:47,920
Speaker 7: Lord of the Slums.

1439
00:57:48,080 --> 00:57:52,000
Speaker 5: It's Lord underscore of underscore the Slums bitally underscore between

1440
00:57:52,280 --> 00:57:54,360
Speaker 5: each work. But you know, I'm not a slum lawyer.

1441
00:57:54,400 --> 00:57:57,360
Speaker 5: I just I thought this was a funny name. You know,

1442
00:57:57,400 --> 00:57:58,960
Speaker 5: I'm not here trying to sell anything. So it's like,

1443
00:57:59,360 --> 00:58:01,360
Speaker 5: you know, I feel like it where it doesn't matter.

1444
00:58:01,360 --> 00:58:03,840
Speaker 5: I feel like my my you know, when it comes

1445
00:58:03,840 --> 00:58:06,080
Speaker 5: to lenders is like my my portfolio, my credit score,

1446
00:58:06,280 --> 00:58:08,400
Speaker 5: like my my my background that speaks for yourself. So

1447
00:58:08,600 --> 00:58:10,720
Speaker 5: like being like trying to do a little plown with

1448
00:58:10,920 --> 00:58:12,720
Speaker 5: you know, with the name. You know, that's just you know,

1449
00:58:12,840 --> 00:58:13,480
Speaker 5: me being funny.

1450
00:58:13,640 --> 00:58:15,840
Speaker 3: Yeah, and you still on tour too, right with n

1451
00:58:15,880 --> 00:58:17,800
Speaker 3: being Yeah, definitely have one of the guest speakers with

1452
00:58:18,240 --> 00:58:21,960
Speaker 3: with the DJ and V and Flipping and Jake Seminars.

1453
00:58:22,560 --> 00:58:26,040
Speaker 5: Definitely suggest you know, anybody whenever we have one. If

1454
00:58:26,080 --> 00:58:28,040
Speaker 5: it's if you can make it, definitely make it out.

1455
00:58:28,120 --> 00:58:30,760
Speaker 5: I mean we speak, I'm talking about five hours. It's

1456
00:58:30,840 --> 00:58:33,480
Speaker 5: really NonStop, like you know, we don't like there's.

1457
00:58:33,320 --> 00:58:34,000
Speaker 3: No breaks in between.

1458
00:58:34,080 --> 00:58:37,160
Speaker 10: We went me and try went to the one in

1459
00:58:37,320 --> 00:58:41,919
Speaker 10: Jersey last week, like your story, I was like, wow,

1460
00:58:42,200 --> 00:58:45,560
Speaker 10: like this guy looks like us, Like there's no like said,

1461
00:58:45,600 --> 00:58:48,320
Speaker 10: everybody really everybody up, because everybody has been a guest

1462
00:58:48,360 --> 00:58:50,000
Speaker 10: on our show except the season n MV.

1463
00:58:50,200 --> 00:58:54,320
Speaker 3: So y'are next, But yeah, mad, you know that's our

1464
00:58:54,400 --> 00:58:58,240
Speaker 3: guys being all. You know, everybody's just good people and

1465
00:58:58,960 --> 00:59:00,600
Speaker 3: like you said, everybody's just relatable.

1466
00:59:01,280 --> 00:59:04,200
Speaker 5: Yeah, and the earth and everybody could like relay and

1467
00:59:04,600 --> 00:59:06,760
Speaker 5: and you know what, it doesn't have to be necessarily

1468
00:59:06,800 --> 00:59:08,920
Speaker 5: real estate investor. I mean there's like like Sabine, you know,

1469
00:59:09,000 --> 00:59:11,920
Speaker 5: she's she's an attorney and she's a female ye so

1470
00:59:12,360 --> 00:59:14,760
Speaker 5: female minority attorney.

1471
00:59:15,160 --> 00:59:15,760
Speaker 3: That right there.

1472
00:59:15,760 --> 00:59:17,560
Speaker 5: You know, that's something that somebody goes over there and

1473
00:59:17,800 --> 00:59:21,120
Speaker 5: who knows who she's basically inspiring to be that because

1474
00:59:21,120 --> 00:59:22,080
Speaker 5: that's not like a common thing.

1475
00:59:23,160 --> 00:59:26,360
Speaker 3: Sabine, man, she's a bout a business. She's very knowledgeable.

1476
00:59:26,640 --> 00:59:30,160
Speaker 5: So everyone that, you know, everyone that goes on stage

1477
00:59:30,200 --> 00:59:32,080
Speaker 5: from like you know, the credit guy is like everyone

1478
00:59:32,160 --> 00:59:33,840
Speaker 5: that goes up, they have their own little stories and

1479
00:59:34,240 --> 00:59:36,400
Speaker 5: they have everybody. We all have like similar backgrounds where

1480
00:59:36,400 --> 00:59:38,720
Speaker 5: we kind of like come from the city, come from nothing,

1481
00:59:38,720 --> 00:59:40,000
Speaker 5: and you know, we're trying to like make it up,

1482
00:59:40,040 --> 00:59:41,520
Speaker 5: and then we all want to kind of like help

1483
00:59:41,640 --> 00:59:43,840
Speaker 5: help out and get back for sure.

1484
00:59:43,760 --> 00:59:46,400
Speaker 3: Man the game man, We thank you, We thank you.

1485
00:59:46,440 --> 00:59:49,200
Speaker 3: Before we wrap it up, Troy, can you can you

1486
00:59:49,280 --> 00:59:53,120
Speaker 3: give them people some information? Yeah, So our Patreon is

1487
00:59:53,240 --> 00:59:53,920
Speaker 3: moving well.

1488
00:59:54,200 --> 00:59:55,920
Speaker 2: And a lot of people, you know, I'm realizing that

1489
00:59:56,000 --> 00:59:58,200
Speaker 2: they don't have any idea with patreon it. So Patreon

1490
00:59:58,760 --> 01:00:02,360
Speaker 2: is a way creatives to put out extra content and

1491
01:00:02,560 --> 01:00:05,440
Speaker 2: come up with some ideas that can help. So what

1492
01:00:05,560 --> 01:00:07,840
Speaker 2: we've been doing is putting out bonus content, putting out

1493
01:00:07,840 --> 01:00:09,520
Speaker 2: the earlier the episodes.

1494
01:00:09,080 --> 01:00:09,800
Speaker 3: A little bit earlier.

1495
01:00:10,640 --> 01:00:12,920
Speaker 2: Our new features are going to be dropping before the summer,

1496
01:00:13,120 --> 01:00:16,160
Speaker 2: My Hometown Hero series. We got a new campaign that's

1497
01:00:16,200 --> 01:00:19,280
Speaker 2: coming on with that, and we had a great conversation

1498
01:00:19,360 --> 01:00:23,240
Speaker 2: the other day with one of our patrons, and it

1499
01:00:23,360 --> 01:00:25,520
Speaker 2: came to our mind that, you know what, why are

1500
01:00:25,600 --> 01:00:28,520
Speaker 2: we giving them bonus content? So starting this week, we're

1501
01:00:28,520 --> 01:00:31,520
Speaker 2: actually gonna start putting out unedited episodes. You're gonna see

1502
01:00:31,520 --> 01:00:34,360
Speaker 2: everything behind the scenes in betweens because we have some

1503
01:00:34,480 --> 01:00:38,120
Speaker 2: great conversations. I think she said, y'all holding content, y'all

1504
01:00:38,160 --> 01:00:40,360
Speaker 2: holding content. I'm like, yeah, Well, we're putting it out

1505
01:00:40,400 --> 01:00:43,280
Speaker 2: sporadically and if you check our YouTube you'll see some

1506
01:00:43,400 --> 01:00:46,480
Speaker 2: of those those bonus content features. So the opportunities on

1507
01:00:46,920 --> 01:00:49,200
Speaker 2: video with Matt was one. We have a hedge fund

1508
01:00:49,240 --> 01:00:51,680
Speaker 2: one that we're gonna be putting out with Q. Shout

1509
01:00:51,680 --> 01:00:56,080
Speaker 2: out Q, who did the stock market episode. So Patreon

1510
01:00:56,200 --> 01:00:58,320
Speaker 2: dot com backslash ernial lesion.

1511
01:00:58,440 --> 01:01:00,520
Speaker 3: We have five tiers. Feel free to join any tier

1512
01:01:01,000 --> 01:01:02,439
Speaker 3: and it will tell you what you get at that tier.

1513
01:01:03,200 --> 01:01:06,400
Speaker 3: And our season two is out, so be on the

1514
01:01:06,440 --> 01:01:06,920
Speaker 3: lookout for that.

1515
01:01:08,360 --> 01:01:10,560
Speaker 2: Our merch of our merch, so shout shout out to

1516
01:01:10,960 --> 01:01:14,520
Speaker 2: Mic and the team for uh, you know, working deals

1517
01:01:14,680 --> 01:01:16,600
Speaker 2: to put that out. We got our kid sizes now

1518
01:01:17,360 --> 01:01:19,480
Speaker 2: we have some phone cases and some months, so yeah,

1519
01:01:19,520 --> 01:01:22,880
Speaker 2: feel free to support that because everything helps, right, We're

1520
01:01:22,920 --> 01:01:24,720
Speaker 2: not able to do what we do without ya'all, so

1521
01:01:25,160 --> 01:01:25,960
Speaker 2: we appreciate that.

1522
01:01:26,320 --> 01:01:29,200
Speaker 3: Uh yeah, definitely. In YouTube, make sure you subscribe to

1523
01:01:29,240 --> 01:01:32,400
Speaker 3: our YouTube also because we're gonna put bonus content on

1524
01:01:32,480 --> 01:01:34,480
Speaker 3: YouTube as well, and we're gonna have a lot of

1525
01:01:34,520 --> 01:01:36,960
Speaker 3: different stuff that is not on the audio side of

1526
01:01:37,000 --> 01:01:39,120
Speaker 3: the podcast. Make sure you still subscribe to iTunes too,

1527
01:01:39,120 --> 01:01:41,360
Speaker 3: because we need to get the number one spot on iTunes. Yeah,

1528
01:01:42,400 --> 01:01:44,880
Speaker 3: but also the YouTube. We're gonna have a lot of

1529
01:01:45,200 --> 01:01:48,200
Speaker 3: different things that we have opportunity eson segment with Matt

1530
01:01:48,720 --> 01:01:50,960
Speaker 3: that's only on YouTube, only available on YouTube. So we're

1531
01:01:50,960 --> 01:01:53,720
Speaker 3: gonna start doing more stuff on YouTube, how to series

1532
01:01:53,760 --> 01:01:55,600
Speaker 3: like how to Start an LLC, you know, stuff like that,

1533
01:01:55,680 --> 01:01:57,720
Speaker 3: a little five seven minute clips on Youtube're gonna start

1534
01:01:57,760 --> 01:02:00,959
Speaker 3: doing stuff like that. And uh actually said our merging

1535
01:02:01,080 --> 01:02:03,560
Speaker 3: and also we are going to we did we did

1536
01:02:03,600 --> 01:02:07,200
Speaker 3: a networking event in LA, which was crazy, so you know,

1537
01:02:07,280 --> 01:02:09,120
Speaker 3: we gotta come home. We're gonna do it. We're gonna

1538
01:02:09,120 --> 01:02:10,520
Speaker 3: do it big for the city. We're gonna do something

1539
01:02:10,560 --> 01:02:14,080
Speaker 3: in New York City very soon. We will be releasing

1540
01:02:14,200 --> 01:02:16,480
Speaker 3: the dates on our Instagram. Information on our Instagram, and

1541
01:02:16,600 --> 01:02:18,680
Speaker 3: we want to have hopefully we can get all the

1542
01:02:19,080 --> 01:02:21,160
Speaker 3: guests that we had so for an endo, welcome to

1543
01:02:21,200 --> 01:02:24,120
Speaker 3: the Alumni Club. I let you know this thing, man,

1544
01:02:24,520 --> 01:02:26,400
Speaker 3: you could come through. That'll be dope. So you'll be

1545
01:02:26,440 --> 01:02:28,320
Speaker 3: able to meet the guests in person and you'll be

1546
01:02:28,720 --> 01:02:30,480
Speaker 3: it is dope if you was if you saw the

1547
01:02:30,560 --> 01:02:32,800
Speaker 3: video from l A's know anybody in LA. That's how

1548
01:02:32,840 --> 01:02:33,960
Speaker 3: we're going. We're gonna do it, but it's gonna be

1549
01:02:34,000 --> 01:02:36,320
Speaker 3: way bigger in New York because so where you're from.

1550
01:02:36,480 --> 01:02:39,360
Speaker 5: So man, this is like what you guys got out here,

1551
01:02:39,400 --> 01:02:40,760
Speaker 5: and it's pretty dope, man, because it's like, you know,

1552
01:02:41,040 --> 01:02:44,240
Speaker 5: it's it's it's not just one one direction, like you know,

1553
01:02:44,320 --> 01:02:46,160
Speaker 5: you guys have a little bit of everything. So it's

1554
01:02:46,200 --> 01:02:48,720
Speaker 5: like anyone that needs to get inspired in different fields

1555
01:02:49,200 --> 01:02:53,680
Speaker 5: kind of providing something financials and different fields exactly.

1556
01:02:53,720 --> 01:02:55,200
Speaker 3: That's what it's all about, man, trying to give it

1557
01:02:55,440 --> 01:02:58,160
Speaker 3: people as much information as possible and then from there

1558
01:02:58,200 --> 01:02:59,840
Speaker 3: they can kind of pick and choose. Which is that

1559
01:03:00,400 --> 01:03:01,080
Speaker 3: a lot what.

1560
01:03:01,200 --> 01:03:04,360
Speaker 2: Drives that makes it because it's like literally everyone has

1561
01:03:04,440 --> 01:03:06,400
Speaker 2: earned their legion, right, So like even on your board

1562
01:03:06,400 --> 01:03:08,600
Speaker 2: in two thousand and forty twenty eleven, there was zero

1563
01:03:09,120 --> 01:03:11,720
Speaker 2: right they didn't see that that that part that you

1564
01:03:11,880 --> 01:03:13,360
Speaker 2: had to struggle and you had to figure out a way,

1565
01:03:13,400 --> 01:03:15,320
Speaker 2: but you never give up, right, So everything you have

1566
01:03:15,520 --> 01:03:16,160
Speaker 2: now like.

1567
01:03:16,200 --> 01:03:18,360
Speaker 3: You've earned you literally earned the freedom.

1568
01:03:18,480 --> 01:03:20,120
Speaker 7: Yeah, definitely, And then you know that was also a

1569
01:03:20,120 --> 01:03:21,280
Speaker 7: big part of that was also feared.

1570
01:03:21,800 --> 01:03:22,120
Speaker 3: M M.

1571
01:03:22,200 --> 01:03:24,040
Speaker 5: It's like you know, you us because it's like you

1572
01:03:24,120 --> 01:03:25,720
Speaker 5: scared to fail, and it's like what's gonna happen if

1573
01:03:25,720 --> 01:03:26,040
Speaker 5: I fail.

1574
01:03:26,120 --> 01:03:27,240
Speaker 3: So it's like, you know, there's like a lot of

1575
01:03:27,280 --> 01:03:29,480
Speaker 3: hold back too. So I also think that too.

1576
01:03:29,520 --> 01:03:31,480
Speaker 7: When my daughter was born twenty thirteen, that kind of

1577
01:03:31,520 --> 01:03:33,160
Speaker 7: like pushed me to because.

1578
01:03:32,960 --> 01:03:34,160
Speaker 5: The following year, that's when I was able to do

1579
01:03:34,240 --> 01:03:35,800
Speaker 5: multiple deals at the same time. I put in my

1580
01:03:35,840 --> 01:03:39,680
Speaker 5: head like yo, I got them, like yeah, somebody doing.

1581
01:03:39,720 --> 01:03:40,800
Speaker 3: Like you know what I'm saying. I was still in

1582
01:03:40,800 --> 01:03:41,080
Speaker 3: the hood.

1583
01:03:41,080 --> 01:03:42,400
Speaker 5: I was like, I can't know, I grew up in

1584
01:03:42,440 --> 01:03:45,000
Speaker 5: the hood, and I was like dreams of like kind

1585
01:03:45,000 --> 01:03:47,120
Speaker 5: of like moving out and like, you know, like.

1586
01:03:47,200 --> 01:03:49,560
Speaker 3: Living in American dream basically. So it's kind of like I.

1587
01:03:49,600 --> 01:03:51,120
Speaker 7: Wanted to push it, you know, and then make sure that,

1588
01:03:51,200 --> 01:03:53,520
Speaker 7: you know, financially that we were all good, you know, and.

1589
01:03:54,120 --> 01:03:55,840
Speaker 3: You know, she helped me out. So yeah, you change,

1590
01:03:56,080 --> 01:03:59,080
Speaker 3: you are changing the narrative of what the American dream is. Yeah, definitely.

1591
01:03:59,080 --> 01:04:03,240
Speaker 3: Now you're already America and dream dream and so yeah,

1592
01:04:03,280 --> 01:04:04,640
Speaker 3: before we leave, I have a book tip that I

1593
01:04:04,680 --> 01:04:07,720
Speaker 3: always say. My book tip this week is Nelson and

1594
01:04:07,840 --> 01:04:11,960
Speaker 3: Della's biography. It's called A Long Walks of Freedom, and

1595
01:04:12,040 --> 01:04:15,800
Speaker 3: it's a really good book. It outlies his story, you know,

1596
01:04:15,880 --> 01:04:18,480
Speaker 3: as far as doing I think thirty years in jail,

1597
01:04:19,040 --> 01:04:22,120
Speaker 3: thirty years in jail and coming out and it's dope.

1598
01:04:22,120 --> 01:04:25,560
Speaker 3: It's really inspirational and it's a dope book. So I

1599
01:04:25,680 --> 01:04:30,200
Speaker 3: highly recommend anybody read that, no matter what you're interested in,

1600
01:04:30,400 --> 01:04:33,040
Speaker 3: because everybody can get some inspiration from that book. So

1601
01:04:33,800 --> 01:04:36,360
Speaker 3: that is it E Y L twenty in the books.

1602
01:04:36,360 --> 01:04:38,360
Speaker 3: Thank you for your support. We'll see you next week. Thanks.

1603
01:05:05,200 --> 01:05:08,840
Speaker 11: An illegal alien from Guatemala charged with raping a child

1604
01:05:08,920 --> 01:05:12,680
Speaker 11: in Massachusetts. An MS thirteen gang member from Al Salvador

1605
01:05:12,960 --> 01:05:17,040
Speaker 11: accused of murdering a Texas man of Venezuelan charged with

1606
01:05:17,160 --> 01:05:21,000
Speaker 11: filming and selling child pornography in Michigan. These are just

1607
01:05:21,160 --> 01:05:24,880
Speaker 11: some of the heinous migrant criminals caught because of President

1608
01:05:24,960 --> 01:05:28,479
Speaker 11: Donald J. Trump's leadership. I'm Christy Noman, the United States

1609
01:05:28,560 --> 01:05:33,320
Speaker 11: Secretary of Homeland Security. Under President Trump, attempted illegal border

1610
01:05:33,360 --> 01:05:36,880
Speaker 11: crossings are at the lowest levels ever recorded, and over

1611
01:05:37,000 --> 01:05:40,160
Speaker 11: one hundred thousand illegal aliens have been arrested. If you

1612
01:05:40,280 --> 01:05:44,080
Speaker 11: are here illegally, your next you will be fined nearly

1613
01:05:44,200 --> 01:05:46,960
Speaker 11: one thousand dollars a day, imprisoned.

1614
01:05:46,680 --> 01:05:47,360
Speaker 1: And deported.

1615
01:05:47,840 --> 01:05:51,040
Speaker 11: You will never return but if you register using our

1616
01:05:51,120 --> 01:05:54,280
Speaker 11: CBP home app and leave now, you could be allowed

1617
01:05:54,320 --> 01:05:58,920
Speaker 11: to return legally. Do what's right, leave now. Under President

1618
01:05:58,960 --> 01:06:03,040
Speaker 11: Trump America's laws, border and families will be protected.

1619
01:06:03,160 --> 01:06:05,240
Speaker 3: Sponsored by the United States Department of Homeland Security,