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

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

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

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

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

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

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Speaker 1: aliens have been arrested. If you are here illegally, your

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Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,

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Speaker 1: and deported.

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Speaker 2: You will never return.

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Speaker 1: But if you register using our CBP home app and

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

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security.

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Speaker 4: This episode of The Market Monday's World Tour is brought

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Speaker 4: to you with limited interruption by Ally.

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Speaker 5: The Moment, Time for the unforgettable moments, you say for

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Speaker 5: we're all better off with an ally like a part

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Speaker 5: in the Scotch fly Away.

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Speaker 6: So when we talk about real estate, we wanted to

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Speaker 6: make sure that we bring local people that are relevant

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Speaker 6: to the local real estate market. And we've had this

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Speaker 6: relationship with Rashaanna Scott for.

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Speaker 7: A long time.

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Speaker 8: Chicago was in the party.

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Speaker 7: Yes, make some noise and some noise for the Queen.

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Speaker 6: Please, Hey Rashana, Rashaana local realtor, investor and somebody that's

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Speaker 6: very extremely knowledgeable about real estate and you know definitely

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Speaker 6: when it comes to Chicago.

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Speaker 7: So yes, thank you for coming.

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Speaker 5: Yeah, keep having me.

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Speaker 4: Hey y'all, Hey, well, thank you again. So December ninth,

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Speaker 4: twenty nineteen, you lead you put on its first first

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Speaker 4: real event in DC and we asked a real estate

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Speaker 4: professional to come, no other than you. So thank you

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Speaker 4: again for being here with us. O course you're part

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Speaker 4: of our history. Type it up for huh.

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Speaker 5: Yeah, that was a dope event. That was a fun event.

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Speaker 5: Top golf, mobile home, bulld up wall Street, trap, plowed up,

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Speaker 5: man and flies.

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Speaker 6: Real estate is everything, you know. Everybody is involved in

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Speaker 6: real estate because you live somewhere right, either you are

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Speaker 6: renting from a landlord or you own an apartment or

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Speaker 6: you own a home, right, somebody owns that real estate

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Speaker 6: regardless even if you're sleeping in the street or sleeping

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Speaker 6: in the park that's owned by the city. If you

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Speaker 6: think about it, right, there's nowhere where you're living that

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Speaker 6: somebody that somebody owns this building.

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Speaker 7: Right now.

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Speaker 6: Real estate is everything. So real estate is not a scam.

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Speaker 6: Some people that are in real estate have performed scams.

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Speaker 6: But but the real estate is not a scam. It's

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Speaker 6: it's important, y'all say, y'all want to let a jacket energy?

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Speaker 9: Right, So, so, so what are some good investment tips

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Speaker 9: for first time home buyers and investors?

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Speaker 5: All right? So what's up, Chicago go?

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Speaker 10: It feels good to be having this conversation with my

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Speaker 10: brothers in my home city. So definitely, you know, one

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Speaker 10: of the number one things that I talked to folks about.

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Speaker 10: First of all, how many people in here are homeowners?

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Speaker 10: Make them noise?

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Speaker 8: Shout out to y'all, all right, how many.

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Speaker 5: People out here own investment properties?

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Speaker 8: Shout out to y'all Okay, yeah, okay.

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Speaker 5: And how many future homeowners and investors.

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Speaker 8: Do we have? Make some noise everybody?

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Speaker 5: Okay, cool? Good stup.

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Speaker 10: So one of the number one things that I always

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Speaker 10: talk about is house hacking.

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Speaker 8: Right.

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Speaker 10: It is not a new strategy by any means, but

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Speaker 10: because of social media, house hacking has just become more

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Speaker 10: popular over the past couple of years. And essentially, what

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Speaker 10: house hacking means is that you buy a property that

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Speaker 10: could be a single family home or a multifamily and

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Speaker 10: you rent out other areas of that property where you

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Speaker 10: can actually make money and it can pay your mortgage

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Speaker 10: and you can live for free essentially, right. And so

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Speaker 10: if it's a single family home, you can rent out rooms,

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Speaker 10: you can rent out the garage, you can rent out

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Speaker 10: the shed, there's a number of different areas. You can

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Speaker 10: rent out the basement, right, if you have an addic

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Speaker 10: if you have an in law suite. But if it's

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Speaker 10: a multi unit, thankfully, in the Chicago land market, we

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Speaker 10: have an abundance of multifamily properties and you can get

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Speaker 10: into it and purchase a two or three or four

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Speaker 10: unit property. And so a lot of clients that I

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Speaker 10: work with, they're like, you know, how do I get

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Speaker 10: started in real estate? Now, living in a multi unit

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Speaker 10: may not be for everyone, but if your goal is

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Speaker 10: to build generational wealth through investing in real estate. I

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Speaker 10: would absolutely advise that you purchase a multi unit as

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Speaker 10: your first property because you can put very little to

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Speaker 10: no money down. Right, So there are programs out there

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Speaker 10: that are zero percent, you have three and a half percent,

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Speaker 10: and you have five percent down programs where you can

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Speaker 10: get into a multi high unit, where as an investor,

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Speaker 10: they're looking at twenty twenty five to thirty percent down

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Speaker 10: in regards to starting your investment.

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Speaker 7: What's some of those programs.

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Speaker 10: Yeah, so NAKA shout out to Dre So, NACA is

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Speaker 10: a great program. Actually have some clients in the crowd

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Speaker 10: who have also closed with NAKA and that program is

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Speaker 10: no money down, no closing costs. We're talking about the

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Speaker 10: interest rais nowadays and how they just keep going higher

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Speaker 10: and higher and higher. You can actually go in and

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Speaker 10: buy your interest right down and they're just ultimately across

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Speaker 10: the board. On average, their rates are about one and

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Speaker 10: a half to two and a half percent lower than

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Speaker 10: what the national average is going to be. So NACA

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Speaker 10: is a great program that you guys can use to

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Speaker 10: purchase multi units or just to purchase your first property

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Speaker 10: in general. Now, the thing about NACA, right, so there's

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Speaker 10: a lot of different misconceptions. There's a lot of conversation

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Speaker 10: around NAKA. It is a phenomenal program, but if you

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Speaker 10: are on a timeframe, I don't believe that NAKA is

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Speaker 10: the program for you. So like, if you got to

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Speaker 10: be out of your place in four months, NAKA is

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Speaker 10: not the program for you, right, And I don't believe

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Speaker 10: there's enough people like saying that, and people get started

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Speaker 10: and then they get in the process and then they

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Speaker 10: realize they're not getting approved for maybe twelve to eighteen months, right.

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Speaker 10: But it's a phenomenal program to the buyer. And so

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Speaker 10: if you have not purchased a property yet, but you

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Speaker 10: know you want to purchase a property sometime in the

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Speaker 10: near future, then I would say absolutely everyone should start

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Speaker 10: that program now.

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Speaker 5: All right, faha.

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Speaker 10: Three and a half percent down faha, and conventional loans

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Speaker 10: government backed mortgages. And I don't know if you guys

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Speaker 10: have seen on social media lately, but we have been

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Speaker 10: talking about it and posting it like crazy. So faha,

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Speaker 10: like I mentioned, three and a half percent down, anything

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Speaker 10: from one to four units. The conventional product has changed

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Speaker 10: their from five percent down for two, three and four units.

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Speaker 10: That's amazing for conventional okay. And why that's a big

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Speaker 10: deal is because in Cook County, the limits for FAHA

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Speaker 10: to purchase up till four unit is nine hundred thousand dollars.

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Speaker 10: So you can go and purchase a property for nine

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Speaker 10: hundred thousand dollars and only put three and a half

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Speaker 10: percent down if that's FAHA, And for conventional the Cook

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Speaker 10: County loan limit is one point four million dollars and

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Speaker 10: you only have to put five percent down.

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Speaker 8: Wow, that's crazy, that's crazy, Micheane.

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Speaker 4: There's nothing like free money though, right, So let's talk

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Speaker 4: about some grant programs because grants is something that we

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Speaker 4: don't have to be back. I know that from you know,

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Speaker 4: being a student and having student loans, we always want

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Speaker 4: to get the grant money. So what type of grants

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Speaker 4: are being offered here in Illinois, specifically in Chicago.

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Speaker 10: Yes, I absolutely want to talk about two major programs.

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Speaker 10: But before I talk about that, I also want to

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Speaker 10: make sure that I don't forget to mention VA loans.

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Speaker 5: Do we have any veterans in the.

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Speaker 8: Building, shut out to y'all, shout.

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Speaker 5: Definitely shout out to y'all.

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Speaker 10: And if you have any family members who are veterans,

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Speaker 10: let me tell you call them up and say, hey,

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Speaker 10: did you use your VA loan? Because if not, we

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Speaker 10: need to go about four units. VA is another loan

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Speaker 10: program that is absolutely no money down and there are

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Speaker 10: certain tax benefits too to where you can have your

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Speaker 10: property taxes reduce significantly.

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Speaker 5: If you are if you have access to the VA loan.

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Speaker 10: So definitely make sure that you guys utilize that VA

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Speaker 10: loan because you can actually purchase a property with no

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Speaker 10: money down. You can get one hundred percent financing, you

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Speaker 10: can refinance out of that property into a conventional loan,

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Speaker 10: and you can move out of that property and use

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Speaker 10: that VA loan again.

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Speaker 8: Did y'all catch that againson one more again?

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Speaker 10: So in regards to the program, so AIDA, you guys

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Speaker 10: write this down ihd A. It is Illinois Housing Development

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Speaker 10: Authority and IDA is probably one of the most commonly

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Speaker 10: used state grants that I've been using throughout my career.

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Speaker 10: I've had a number of different clients closed with IDOL

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Speaker 10: loans and that is up to ten thousand and down

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Speaker 10: payment assistance.

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Speaker 5: You can go right online. You can google.

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Speaker 10: IHDA IDA and there's income limits and credit score requirements

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Speaker 10: and things like that. But all of the program qualifications

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Speaker 10: are there, and that is the most common commonly used

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Speaker 10: grant that I've seen throughout the years.

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Speaker 7: That's ten thousand dollars.

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Speaker 4: All I gotta do is put out the application, Hopefully

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Speaker 4: I meet through requirements and it's granted to me.

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Speaker 5: Yep, up to yep, yeah, and you don't have to

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Speaker 5: repay it.

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Speaker 7: This is a question we asked Don Peebles last year.

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Speaker 6: I want to ask you, now, what are like the

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Speaker 6: three hottest areas to invest in in Chicago or Illinois?

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Speaker 10: So what'd you say to?

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Speaker 8: Right?

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Speaker 10: Right, so everyone knows about the Obama Library that's coming.

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Speaker 10: Shout out to the Obama Library. Shout out to what

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Speaker 10: line it is coming into? Twenty twenty five? That must

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Speaker 10: be a west side. That must be a west side

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Speaker 10: over there? Boying, but uh, but so what line?

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Speaker 5: Actually?

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Speaker 10: Statistically proven has been one of the fastest growing neighborhoods

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Speaker 10: in the country. The home values have doubled in less

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Speaker 10: than twenty four months. Right, So, if you guys drive by,

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Speaker 10: you know you can see the library is coming. It's

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Speaker 10: I don't I don't know what phase is in, but

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Speaker 10: that thing is going up quick. The expected delivery day

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Speaker 10: is twenty twenty five. So that's a good area that

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Speaker 10: I would say to invest in. Lowndale is a great

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Speaker 10: area to invest in. West side of See, I'm gonna

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Speaker 10: gig you out some love Lawndale, Austin. Another program that

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Speaker 10: I'm gonna talk about is a MMRP.

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Speaker 5: Make sure you guys write that down.

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Speaker 10: That is Micro Market Recovery Program. That is a grant

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Speaker 10: program that I've been working with clients to get since

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Speaker 10: twenty eighteen. That program started off as a fifteen thousand

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Speaker 10: dollars non repayable down payment assistant grant and it started

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Speaker 10: out in eleven different areas across the city of Chicago.

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Speaker 10: That grant program has since increased to a thirty thousand

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Speaker 10: dollars down payment assistance program, and they have also increased

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Speaker 10: it to twenty different areas of Chicago. And so you know,

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Speaker 10: you mentioned like, what are three different areas? Like people

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Speaker 10: always want to talk about the crime that's going on

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Speaker 10: in Chicago, the terrible things that are going on in Chicago,

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Speaker 10: and just all of the bad that is about Chicago.

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Speaker 10: But what they don't tell you is that there is

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Speaker 10: an entire new zip code being developed in Chicago right

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Speaker 10: It is a multi billion dollar development called.

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Speaker 5: The seventy eight.

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Speaker 10: It is six oh six seven eight right across from

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Speaker 10: Roosevelt on Roosevelt and Clark from the Target, right all

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Speaker 10: of that land.

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Speaker 5: Who knows about the seventy eight?

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Speaker 10: All right, okay, so you know, if Chicago is so

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Speaker 10: terrible and there's all these terrible things that happened, why

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Speaker 10: is there's so much money going into the city. Right,

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Speaker 10: There's a there's a lot of different infrastructure. Right, there's

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Speaker 10: a lot of things being built, there's a lot of

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Speaker 10: major headquarters that are here, and there's just a lot

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Speaker 10: of money that's going into the city, and not only

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Speaker 10: on the residential side, but on the commercial side.

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Speaker 4: This episode is brought to you by PNC Bank. A

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

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

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Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with

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

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

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Speaker 1: Donald J.

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Speaker 2: Trump's leadership. I'm Christy Noman, the.

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Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted

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Speaker 1: illegal border crossings are at the lowest levels ever recorded,

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Speaker 1: and over one hundred thousand illegal aliens have been arrested.

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Speaker 1: If you were here illegally, your next you will be

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Speaker 1: fine nearly one thousand dollars a day, imprisoned and deported,

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

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Speaker 1: CBP home app and leave now, you could be allowed.

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Speaker 2: To return legally. Do what's right, leave now.

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Speaker 1: Under President Trump, America's laws, border and families.

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Speaker 2: Will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security.

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Speaker 10: As well, So again Austin Lawndale Chatham, Grand crossing Gresham.

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Speaker 5: Like, these are the.

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Speaker 10: Number of different programs that are even on an mmr

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Speaker 10: P list. So if you guys go online again, that's

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Speaker 10: the Micro Market Recovery program. You have to have a

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Speaker 10: property identify and be under contract, and you have to

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Speaker 10: have a home Buyer Certificate past.

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Speaker 5: It's just an online class.

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Speaker 10: You go online and you take it and your lender

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Speaker 10: can give you the link for that. And then if

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Speaker 10: you're purchasing a multi unit, you have to take a

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Speaker 10: Landlord certific Certification class, which is also online. But yeah,

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Speaker 10: but yeah, those are a number of different programs and

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Speaker 10: a number of different areas.

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Speaker 4: I was going to ask about the time sensitivity right

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Speaker 4: because we were talking about stage. You're like, people need

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Speaker 4: to know about it because these programs and these grants

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Speaker 4: sometimes they come and they go.

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Speaker 7: You talk about that a little bit.

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Speaker 10: Yeah, Well, I think that's why it's important to be

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Speaker 10: plugged in with a team and people who have resources

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Speaker 10: because when these programs come and go like not to

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Speaker 10: you know, pop my stuff. But I was awarded, uh,

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Speaker 10: the top realtor from the Chicago Department of Housing to

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Speaker 10: utilize this grant.

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Speaker 7: That's something that brag about.

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Speaker 5: Yeah, so to.

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Speaker 10: Be the number one realtor who has been advocate for

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Speaker 10: closing you know, these grant programs, you know, with people

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Speaker 10: in our communities like and so because of that, whenever

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Speaker 10: there's money that is available, I'm one of the ones.

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Speaker 5: That gets the call first.

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Speaker 10: And that's why it's important right to work with the

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Speaker 10: people who are in the community's working right, Like, we

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Speaker 10: don't just post about it. We don't just you know,

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Speaker 10: talk about it. We actually show up and we do

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Speaker 10: the work. So because of that, you know, NHS, whenever

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Speaker 10: they have programs that roll out their contact the media

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Speaker 10: contacted my lenders and we're on the phone and we're

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Speaker 10: saying like, hey, who do we have in a pipeline,

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Speaker 10: who do we have coming up? Who do we already

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Speaker 10: have that can qualify for these types of programs, because

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Speaker 10: once the money is there, we got to get it,

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Speaker 10: and once it's gone, is gone.

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Speaker 6: So, you know, Cardi b made a post and with

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Speaker 6: ardy shot shout out to Carty. When when I first

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Speaker 6: saw it, I was like, I ain't you know what

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Speaker 6: I see? But I listened to it. No, she actually

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Speaker 6: was pretty insightful and bey honest with you, absolutely, and

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Speaker 6: she she she brought up some good points about where

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Speaker 6: it's a lot of issues that can come into owning

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Speaker 6: a property. It's not like you just buy a property

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Speaker 6: and that's it. Like you got to be a landlord.

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Speaker 6: You gotta collect rent, you gotta deal with tenants. So

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Speaker 6: what the best practice is and what should people prepare

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Speaker 6: themselves for for the downside of real estate of being

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Speaker 6: a landlord.

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Speaker 10: Absolutely well, first and foremost, I think it's important to

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Speaker 10: identify that being a landlord is not the only way

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Speaker 10: that you can invest in real estate. Right, Like, you

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Speaker 10: can flip, yes, you can hold, Yes, you can wholesale,

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Speaker 10: you can purchase mortgage notes, you can do taxlan investment,

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Speaker 10: you can do auctions. There's just a number of different

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Speaker 10: ways in which you can invest, right. I think it's

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Speaker 10: important to know and to understand that investing in real estate,

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Speaker 10: there are entrance strategies, and there's the ways that you

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Speaker 10: can get into the market, and then there's exit strategies.

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Speaker 8: Right.

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Speaker 10: We have Airbnb, we have short term rentals, we have

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Speaker 10: medium term rentals.

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Speaker 5: And so to answer your question.

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Speaker 10: Definitely have an attorney, right if you're going to decide

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Speaker 10: that you know you want to be a landlord. I

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Speaker 10: just completed an eviction myself, you know, on one of

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Speaker 10: my properties. Now, thankfully that client got out, and I

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Speaker 10: mean that tenant got out in two months. But I

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Speaker 10: had a bulldog attorney who got on it right away

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Speaker 10: and you know, was not playing. And my praise report

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Speaker 10: is that she actually filed for rental assistance before she

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Speaker 10: got out. I guess she thought it was gonna help

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Speaker 10: her case. But the judge still ordered for her.

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Speaker 5: To get out.

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Speaker 10: And I got my unit back and I'm getting all

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Speaker 10: of my back pay. And so that's something that you know,

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Speaker 10: you guys also as landlords, should be educating your tenants

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Speaker 10: about right, Like if you are having a hard time

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Speaker 10: paying your rent, what here are some resources you know

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Speaker 10: that will help you, because there's a number of different

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Speaker 10: resources that are out there too. If you are not

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Speaker 10: a good people person, if you're not a good manager

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Speaker 10: of property, people or your finances, highly consider hiring a

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Speaker 10: property man management company right and make sure that you're

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Speaker 10: factoring that into your numbers up front before you make

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Speaker 10: the purchase on the deal. The other thing too, is

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Speaker 10: that you know CARTI talked about market rate tenants essentially

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Speaker 10: right and them not paying for their you know, paying

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Speaker 10: for the rent. There's a number of different subsidy programs

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Speaker 10: that are out there.

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Speaker 5: We talk about.

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Speaker 10: Section eight a lot, but Section eight is not the

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Speaker 10: only subsidy program that is out there. Actually have an

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Speaker 10: a unit on a market that I was at yesterday

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Speaker 10: and we were there with a number of different contractors

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Speaker 10: and a buyer pulled up and he was looking at

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Speaker 10: the building. He was looking at the layout and he

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Speaker 10: was like, yeah, I only I only rent to subsidy programs.

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Speaker 5: And he was like, I don't do Section eight, right.

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Speaker 10: So, for those of you who are taking notes, and

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Speaker 10: for those of you who are landlords, different programs outside

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Speaker 10: of that of subsidy, outside of Section A. C h

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Speaker 10: H is one in the Chicago land area that is

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Speaker 10: the Center for Housing and Health.

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00:22:03,720 --> 00:22:09,440
Speaker 5: You also have what's the other one, and.

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Speaker 10: You also have Catholic Charities is another one that's a

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Speaker 10: very commonly used one. And there's a third one that

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Speaker 10: I can't think of and it starts with the A.

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Speaker 10: But I'll let you guys know. It's in my phone,

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00:22:22,960 --> 00:22:25,440
Speaker 10: but my phone is over there. I think it's All

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Speaker 10: Chicago or all City or something like that. These are

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Speaker 10: three different subsidy programs that have quality tenants right, like

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Speaker 10: there actually are going and they're doing the screening for

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Speaker 10: you guys before you even you know, place the tenants right.

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00:22:41,760 --> 00:22:44,320
Speaker 10: And then that's the other thing too. Definitely make sure

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Speaker 10: you screen every single tenant. Okay, background check, evictions check,

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Speaker 10: credit check. You know, you want to ask why are

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Speaker 10: you moving, why do you need to move by?

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Speaker 5: What time frame do you need to move?

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Speaker 10: And I do pop ups on tenants as well, so

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Speaker 10: I'm like, hey, you know, this is.

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Speaker 5: The property management colin.

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Speaker 10: You are one of our you know, final applicants and

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Speaker 10: as a part of our next round for you know,

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00:23:13,280 --> 00:23:16,399
Speaker 10: placing a tenant, we need to come by and do

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Speaker 10: a walk through today.

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Speaker 5: What time is good for you?

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Speaker 7: Wow?

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Speaker 5: I shared that before and somebody was like is it legal?

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Speaker 5: I was like, who said is not? Who said is not? Right?

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Speaker 8: Now?

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Speaker 10: Yeah, of course they can say, oh I'm not available

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00:23:30,920 --> 00:23:32,840
Speaker 10: or this or that or whatever the case, right, but

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Speaker 10: I want to know how you are living right now today, right.

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Speaker 10: And it's always funny because when you get there, it's

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Speaker 10: gonna you're gonna be smacked in the.

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Speaker 5: Nose of bleach, like you know, you gonna know.

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Speaker 10: But yeah, just so those are number of different things

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Speaker 10: that you can look into or that you can kind

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Speaker 10: of have in place as insurance measures, you know, when

443
00:23:54,760 --> 00:23:58,280
Speaker 10: you talk about becoming a landlord and to go against

444
00:23:58,280 --> 00:24:00,520
Speaker 10: you know, the Cardi ramp right, because I obviously she

445
00:24:00,600 --> 00:24:04,000
Speaker 10: was only talking about market paying tenants. But there's a

446
00:24:04,080 --> 00:24:06,439
Speaker 10: number of different ways and things, you know that you

447
00:24:06,520 --> 00:24:07,080
Speaker 10: could look at.

448
00:24:07,359 --> 00:24:09,800
Speaker 4: One of the critiques from that post for a lot

449
00:24:09,840 --> 00:24:12,280
Speaker 4: of real estate professionals were like, at that level, you

450
00:24:12,280 --> 00:24:14,880
Speaker 4: shouldn't be buying homes, you should be buying commercial real estate.

451
00:24:15,160 --> 00:24:17,840
Speaker 4: And so I wonder what the temperature is here in Chicago.

452
00:24:17,840 --> 00:24:21,040
Speaker 4: Obviously you've been here experience, you're number one in the space.

453
00:24:21,440 --> 00:24:23,800
Speaker 4: What's the temperature like here in Chicago when it comes

454
00:24:23,840 --> 00:24:26,439
Speaker 4: to real estate? You know, we were in Englewood earlier today.

455
00:24:26,680 --> 00:24:31,080
Speaker 4: Shout out to our brothers from Oasis. Yeah, yeah, yeah,

456
00:24:31,119 --> 00:24:34,280
Speaker 4: and we saw the plans of what they plan to do.

457
00:24:34,680 --> 00:24:37,720
Speaker 4: But they're doing it with local businesses, right, it's mixed

458
00:24:37,840 --> 00:24:40,040
Speaker 4: use where and shout out to Sip and Savior. Shout

459
00:24:40,040 --> 00:24:42,080
Speaker 4: out to them. We're giving us that coffee today, yep,

460
00:24:42,119 --> 00:24:45,200
Speaker 4: shout out to them. So that's encouraging. We're seeing people

461
00:24:45,240 --> 00:24:48,600
Speaker 4: work together in real estate. What's the temperature here in Chicago.

462
00:24:48,840 --> 00:24:51,560
Speaker 4: Over the past five years, since this information age has

463
00:24:51,600 --> 00:24:53,880
Speaker 4: become so prevalent, yeah, I.

464
00:24:53,840 --> 00:24:58,600
Speaker 10: Mean, the multi unit market has gone crazy. And again

465
00:24:58,640 --> 00:25:01,399
Speaker 10: I think definitely because of social media. You know, over

466
00:25:01,440 --> 00:25:04,360
Speaker 10: the past couple of years, coining the term house hacking,

467
00:25:04,960 --> 00:25:08,359
Speaker 10: coining the terms like burr and things like that. I

468
00:25:08,440 --> 00:25:11,760
Speaker 10: will say that a lot of out of say investors

469
00:25:11,760 --> 00:25:14,080
Speaker 10: have been attracted to the market, and then when they

470
00:25:14,080 --> 00:25:17,480
Speaker 10: see how cheap it is, you know, compared to the

471
00:25:17,520 --> 00:25:20,680
Speaker 10: East Coast and the West Coast, you know, it's getting

472
00:25:20,680 --> 00:25:23,800
Speaker 10: brought up, right, So then obviously competition is going up

473
00:25:23,800 --> 00:25:25,960
Speaker 10: and things like that. The other thing too, is that

474
00:25:26,040 --> 00:25:31,840
Speaker 10: in our market, it's an interesting market because when people ask, like, okay,

475
00:25:31,880 --> 00:25:36,600
Speaker 10: so if a four unit costs five hundred thousand, that

476
00:25:36,840 --> 00:25:40,040
Speaker 10: means let's say, oh, a six year it will cost

477
00:25:40,119 --> 00:25:44,600
Speaker 10: like seven or six fifty. And I'm like, not necessarily right,

478
00:25:44,720 --> 00:25:47,760
Speaker 10: Like there are in some markets you can also get

479
00:25:47,760 --> 00:25:50,840
Speaker 10: a text unit or eight unit, but the same price

480
00:25:51,040 --> 00:25:55,359
Speaker 10: of a four And when there are you know, investors

481
00:25:55,359 --> 00:25:59,080
Speaker 10: that see that, they're like, oh okay. And then if

482
00:25:59,119 --> 00:26:01,000
Speaker 10: I'm having a conversation with them and I know that

483
00:26:01,080 --> 00:26:04,320
Speaker 10: they have the availability, like the capital to put down.

484
00:26:04,520 --> 00:26:06,720
Speaker 10: I'm actually going to encourage them like, well, you know,

485
00:26:06,760 --> 00:26:08,560
Speaker 10: I know you were looking at this four unit, but

486
00:26:08,800 --> 00:26:11,080
Speaker 10: why right, if you're coming in as an out of

487
00:26:11,080 --> 00:26:13,280
Speaker 10: state investor and you're putting you know, twenty to twenty

488
00:26:13,320 --> 00:26:16,399
Speaker 10: five percent down, why not go commercial anyway? Especially you know,

489
00:26:16,480 --> 00:26:18,600
Speaker 10: like I said, if you're looking at a four unit

490
00:26:18,640 --> 00:26:21,600
Speaker 10: that costs five, five or six hundred thousand in certain areas,

491
00:26:21,840 --> 00:26:24,879
Speaker 10: you can absolutely get a commercial property, you know, for

492
00:26:24,920 --> 00:26:27,879
Speaker 10: that same price as well. The other thing, too, is

493
00:26:27,920 --> 00:26:31,720
Speaker 10: that buying properties and rehabbing it, you can absolutely still

494
00:26:31,760 --> 00:26:34,760
Speaker 10: do that in Chicago. Of course, the best deals are

495
00:26:34,760 --> 00:26:37,680
Speaker 10: going to be found off market. So that's the other thing,

496
00:26:37,720 --> 00:26:40,840
Speaker 10: you know, strengthen those relationships that you guys have and

497
00:26:41,520 --> 00:26:44,600
Speaker 10: work on getting opportunities and deals that are off market,

498
00:26:44,680 --> 00:26:47,480
Speaker 10: because there are still deals that are out there. But yeah,

499
00:26:47,520 --> 00:26:52,119
Speaker 10: the market is has been hot for a while in

500
00:26:52,160 --> 00:26:54,840
Speaker 10: regards to you know, buying multi units and people wanting

501
00:26:54,880 --> 00:26:58,919
Speaker 10: to live in them and rent them out. Now, you know,

502
00:26:59,080 --> 00:27:01,760
Speaker 10: I also be having to have these come to Jesus

503
00:27:01,760 --> 00:27:06,800
Speaker 10: meetings with clients because yes, pre COVID, you could live

504
00:27:06,800 --> 00:27:08,719
Speaker 10: in one unit and rent the other one out and

505
00:27:08,760 --> 00:27:12,760
Speaker 10: live for free. Right, But now with interest rates have

506
00:27:12,840 --> 00:27:15,560
Speaker 10: gone up, you know, prices have gone up, you may

507
00:27:15,600 --> 00:27:18,399
Speaker 10: not live in one unit and rent the one the

508
00:27:18,440 --> 00:27:19,879
Speaker 10: other one out and be living for free.

509
00:27:19,960 --> 00:27:20,160
Speaker 8: Right.

510
00:27:20,480 --> 00:27:23,080
Speaker 10: But at the end of the day, ownership is the

511
00:27:23,119 --> 00:27:26,199
Speaker 10: name of the game, right, I said, ownership is the

512
00:27:26,240 --> 00:27:29,879
Speaker 10: name of the game, right, all right, So at the

513
00:27:30,000 --> 00:27:33,800
Speaker 10: end of the day, own you some right. So with

514
00:27:33,840 --> 00:27:37,800
Speaker 10: that being said, if you are going to you know,

515
00:27:37,840 --> 00:27:40,200
Speaker 10: purchase a Monti unit, live in one unit, and then

516
00:27:40,240 --> 00:27:41,200
Speaker 10: rent the others out.

517
00:27:41,480 --> 00:27:42,600
Speaker 5: Even if you are not.

518
00:27:42,520 --> 00:27:46,280
Speaker 10: Going to live mortgage free, that is okay because you

519
00:27:46,359 --> 00:27:49,480
Speaker 10: are still going to be obviously making payments that go

520
00:27:49,640 --> 00:27:53,159
Speaker 10: towards your equity, and more than likely whatever it is

521
00:27:53,160 --> 00:27:55,720
Speaker 10: that your paying is going to be less than rent anyway.

522
00:27:56,040 --> 00:27:59,960
Speaker 10: So like that irks my nerves when people are like, man, well,

523
00:28:00,040 --> 00:28:02,879
Speaker 10: so you know, I'm not gonna live for free, So

524
00:28:03,080 --> 00:28:06,960
Speaker 10: I don't know if I should buy a multi unit, right,

525
00:28:07,040 --> 00:28:08,920
Speaker 10: because my te I'm not gonna be able to live

526
00:28:08,960 --> 00:28:13,120
Speaker 10: for free. You ain't living for free paying rent anyway, right,

527
00:28:13,440 --> 00:28:14,960
Speaker 10: It's never gonna happen.

528
00:28:15,000 --> 00:28:17,360
Speaker 5: And so your first purchase may not be.

529
00:28:17,400 --> 00:28:20,600
Speaker 10: That home run that you saw, you know, two three

530
00:28:20,680 --> 00:28:23,560
Speaker 10: four years ago, prior to the pandemic. But it will

531
00:28:23,560 --> 00:28:26,280
Speaker 10: set you up for future purchases if you do it

532
00:28:26,320 --> 00:28:28,399
Speaker 10: the right way. Right, the number one rule in real

533
00:28:28,520 --> 00:28:31,160
Speaker 10: estate is that you make money when you buy, all right,

534
00:28:31,240 --> 00:28:33,920
Speaker 10: So when you when you are analyzing your deals and

535
00:28:33,960 --> 00:28:35,920
Speaker 10: when you're running your numbers, and when you working with

536
00:28:36,440 --> 00:28:39,360
Speaker 10: very good, strong professionals who are helping you find the

537
00:28:39,400 --> 00:28:42,640
Speaker 10: deals and helping you get into these no money down

538
00:28:42,720 --> 00:28:45,400
Speaker 10: you know, grants and programs and all these assistance programs,

539
00:28:45,480 --> 00:28:48,880
Speaker 10: and you're essentially building wealth for free. Why would you

540
00:28:48,920 --> 00:28:51,640
Speaker 10: not take that opportunity, you know, to purchase a multi

541
00:28:51,760 --> 00:28:54,800
Speaker 10: unit and then, like I said, you can move out

542
00:28:54,880 --> 00:28:57,200
Speaker 10: and leverage and do that over and over and over again.

543
00:28:57,280 --> 00:28:59,680
Speaker 10: Right we talk about you know, people ask all the time,

544
00:29:00,160 --> 00:29:02,160
Speaker 10: how long do I have this day and a property

545
00:29:02,200 --> 00:29:04,480
Speaker 10: before I can move out? Well, again, the great thing

546
00:29:04,520 --> 00:29:07,720
Speaker 10: is that you can actually refinance out of that first property.

547
00:29:07,880 --> 00:29:11,440
Speaker 10: You can refinance it into a conventional investment loan and

548
00:29:11,480 --> 00:29:13,840
Speaker 10: then you can go and use the FHA loan again,

549
00:29:14,040 --> 00:29:16,120
Speaker 10: or you can go and use the VA loan again.

550
00:29:16,560 --> 00:29:18,480
Speaker 5: Year in to day, a year in a day.

551
00:29:18,840 --> 00:29:21,240
Speaker 7: Make some noise for ashaunas they got Noise for the Queen.

552
00:29:26,240 --> 00:29:29,920
Speaker 1: An illegal alien from Guatemala charged with raping a child

553
00:29:29,960 --> 00:29:33,760
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

554
00:29:34,000 --> 00:29:38,120
Speaker 1: accused of murdering a Texas man of Venezuelan charged with

555
00:29:38,200 --> 00:29:42,080
Speaker 1: filming and selling child pornography in Michigan. These are just

556
00:29:42,200 --> 00:29:45,960
Speaker 1: some of the heinous migrant criminals caught because of President

557
00:29:46,000 --> 00:29:46,440
Speaker 1: Donald J.

558
00:29:46,520 --> 00:29:48,960
Speaker 2: Trump's leadership. I'm Christin Noman, the.

559
00:29:48,960 --> 00:29:53,560
Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted

560
00:29:53,600 --> 00:29:57,320
Speaker 1: illegal border crossings are at the lowest levels ever recorded,

561
00:29:57,600 --> 00:30:00,160
Speaker 1: and over one hundred thousand illegal aliens.

562
00:29:59,800 --> 00:30:00,680
Speaker 2: Have been and arrested.

563
00:30:00,960 --> 00:30:04,480
Speaker 1: If you are here illegally, your next you will be

564
00:30:04,560 --> 00:30:08,440
Speaker 1: fine nearly one thousand dollars a day, imprisoned and deported.

565
00:30:08,880 --> 00:30:10,080
Speaker 2: You will never return.

566
00:30:10,400 --> 00:30:13,400
Speaker 1: But if you register using our CBP home app and

567
00:30:13,480 --> 00:30:16,360
Speaker 1: leave now, you could be allowed to return legally.

568
00:30:16,760 --> 00:30:19,000
Speaker 2: Do what's right, leave now.

569
00:30:19,320 --> 00:30:24,080
Speaker 1: Under President Trump, America's laws, border and families will be protected.

570
00:30:24,200 --> 00:30:26,320
Speaker 3: Sponsored by the United States Department of Homeland Security,