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Speaker 1: After twenty two years of being a titan No Wall

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Speaker 1: Street and starting his own firm.

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Speaker 2: Tony Kasaik is walking away.

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Speaker 3: What to send the Ugly Side.

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Speaker 2: Hooking and Only Inside We'll interview insiders and other titans

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Speaker 2: of all types of industry, offering advice, sharing stories of adversity.

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Speaker 3: This is another episode of The Inside Show.

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Speaker 2: Welcome to Cannabis Talk one on one's Financial Fridays with

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Speaker 2: the Inside investor Tony ka We're the world's number one

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Speaker 2: source for everything cannabis.

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Speaker 4: The information provided by Financial Friday and Tony Kasai is

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Speaker 4: for general information entertainment purposes only and should not be

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Speaker 4: considered as professional financial advice. Consult with the professional before

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Speaker 4: making any financial decisions.

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Speaker 3: Well.

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Speaker 1: Hello, I don't know where you're at, what you're doing,

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Speaker 1: or what day of the week it is for you,

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Speaker 1: But over here at the CT one to one studios,

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Speaker 1: ladies and gentlemen, it is Financial Fridays. I'm honored to

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Speaker 1: be here with you today. My name is Tony Kasai

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Speaker 1: and I'm here to get your mind right and your

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Speaker 1: money game type folks. Feel free to leave me a

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Speaker 1: financial question at anytime. At one eight hundred and four

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Speaker 1: twenty nineteen eighty. Guys, you can also connect with me

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Speaker 1: directly on Instagram at the Insider Investor. Now, you all

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Speaker 1: know that my number one rule of money is that

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Speaker 1: your health is your wealth, and you cannot be wealthy

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Speaker 1: if you are not healthy. That's why I send all

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Speaker 1: my friends to the number one source for everything health

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Speaker 1: that we have here at Cannabis.

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Speaker 3: Talk one to one.

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Speaker 1: His name is doctor Charmers. Charmers Wellness is his website.

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Speaker 1: And you guys, don't sleep on this gentleman. As you've

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Speaker 1: heard me say time and time again, this guy is

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Speaker 1: changing the game when it comes to therapeutic needs using

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Speaker 1: medical grade cannabis. His ted Talk is something that we're

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Speaker 1: really proud of. It's being Shadow band, so we'd love

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Speaker 1: for everybody to search it out. You can find it

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Speaker 1: on our website. You can find it on his website again,

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Speaker 1: that's Charmerswaldness dot com. Betterya give them a call two

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Speaker 1: one four four four six fifty three one hundred. Now

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Speaker 1: today I'm super pump guys, because if you've been following

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Speaker 1: the past couple episodes, we've been bringing home actionable items

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Speaker 1: about what you can do to make money, save money,

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Speaker 1: and more importantly not to lose your money. And today

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Speaker 1: I have a good friend of mine on the show.

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Speaker 1: I've been very selective about who I'm bringing on the

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Speaker 1: show and what they're going to be representing, but I'm

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Speaker 1: super excited about today's guest. This is a gentleman I've

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Speaker 1: known for several years now, and what this dude's going

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Speaker 1: to do today is not sell you anything. He's not

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Speaker 1: your typical random brokerage or mortgage guy, but he's going

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Speaker 1: to educate you, guys, and he's going to do something.

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Speaker 1: And the topic and the show notes today for the

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Speaker 1: guys that are listening right now in our production studio

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Speaker 1: is going to be a lot of people here have

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Speaker 1: or if you're listening at home, a four own K

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Speaker 1: plan right, and your typical financial advisor the world that

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Speaker 1: I came from is going to tell you to max

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Speaker 1: out your four own K. I'm going to argue that

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Speaker 1: that is horrible advice. And if there's one person's advice

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Speaker 1: that you're going to take on the show that I

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Speaker 1: brought out, it's going to be the gentleman sitting next

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Speaker 1: to me, my man, Fabia, and welcome to the show, brother,

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Speaker 1: thank you.

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Speaker 3: For having me.

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Speaker 1: How you doing fantastic man. First of all, fantastic Fedora.

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Speaker 3: Thank you? Are you hiding a bad great hairline or

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Speaker 3: what's going on there now?

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Speaker 1: You know, as long as I've known you, you always

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Speaker 1: rock the Fedora. There's never the same one twice day.

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Speaker 1: And Dale you probably have a bigger closet for your

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Speaker 1: hats than I do my shoes.

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Speaker 3: Both. So listen up, guys, what my man does here?

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Speaker 1: You know, as long as I've known him, Fabian has

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Speaker 1: been on my plug for anything mortgage and if you're

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Speaker 1: like me or if you're not like me, But essentially

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Speaker 1: I have very limited knowledge of the mortgage industry. To me,

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Speaker 1: it was always something that was just whenever I needed money,

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Speaker 1: there was like five guys that I would call whether

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Speaker 1: I was trying to flip a property or pull money

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Speaker 1: out of equity. But for most of the audience sitting

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Speaker 1: home today, the value that myself and Fabian want to

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Speaker 1: bring to you is we're going to show you how

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Speaker 1: with a couple of percents down When I say percents,

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Speaker 1: so think about a million bucks and for fifty grand

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Speaker 1: or thirty grand, you can own about a million dollar property.

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Speaker 1: And I want him to walk you guys through. First

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Speaker 1: of all, his journey to get to where he was.

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Speaker 1: And you're you're still out of here in Long Beach, right, correct,

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Speaker 1: down Long Beach. Yeah, beautiful offices there, and you've been

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Speaker 1: there for five years, okay, and you're you're California, NATA right,

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Speaker 1: born and.

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Speaker 3: Raised, very much so born and all right.

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Speaker 1: So what my man is going to do is, first

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Speaker 1: of all, I want I want to talk to you about, man,

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Speaker 1: your journey to get to where you are. Are the

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Speaker 1: chrials and tribulations of being an entrepreneur. Give me, give

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Speaker 1: me an idea of how you got into the game.

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Speaker 5: It's kind of funny, kind of landed on my lap.

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Speaker 5: I went to college to play baseball, got injured, and

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Speaker 5: stopped playing baseball. Once I stopped doing that, I actually

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Speaker 5: started coaching at my old high school. And one of

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Speaker 5: the fathers that one of the players, his dad was

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Speaker 5: in the mortgage industry, and he always would tell me, look,

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Speaker 5: your personality wise, the way you could talk to people,

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Speaker 5: you know, people gravitate to you, you'd be great in

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Speaker 5: the industry, would you know, wouldn't she What do you

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Speaker 5: think about joining my team? And at first I was like, no,

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Speaker 5: I'm not good. I'm not into that. Talk to my

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Speaker 5: parents about it. They're like, no, you need a nine

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Speaker 5: to five. You know, I'm first generation here Cuban, so

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Speaker 5: it's like hard work putting in the time is what

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Speaker 5: they believe. Got into an argument with my boss at

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Speaker 5: my work and literally put in my two weeks the

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Speaker 5: day the next day, and I got into the industry.

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Speaker 3: No shit, how long go was that?

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Speaker 5: I'm forty three, I want to say almost twenty years.

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Speaker 3: Cool.

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Speaker 1: You know, you and I just had lunch right now.

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Speaker 1: We were talking about some of the trials and tribulations

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Speaker 1: you've gone through recently. We've both had good partnerships, bad partnerships.

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Speaker 1: And I love the fact that right now one of

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Speaker 1: your strategic partners is a gentleman that we both know,

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Speaker 1: and somebody that I've always looked up to. Is like, man,

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Speaker 1: I'd be lucky if I had a one on one

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Speaker 1: mentorship with them. We've developed a pretty good bond. And

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Speaker 1: I'm sure it's okay to say his name, But you know,

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Speaker 1: mister Sammy Knight, right correct, You know, give me an

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Speaker 1: idea of what it's like to, you know, a partner

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Speaker 1: as a partner, but when you look at somebody that's

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Speaker 1: like a legend, like like Sammy, is what value are

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Speaker 1: you getting? You said something and I don't want to

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Speaker 1: steal your thunder about what somebody told you when you said, hey,

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Speaker 1: should I get in business with Sammy?

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Speaker 5: What they tell you, Oh, basically told me I was

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Speaker 5: an idiot if I didn't do it, which after the fact,

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Speaker 5: and everything's the honest truth. I mean, the gentleman's just

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Speaker 5: very knowledgeable. And what he brings is it's just not

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Speaker 5: you know, the knowledge, it's the.

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Speaker 3: How to deal with people.

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Speaker 5: You know, how to speak, how to communicate, how to

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Speaker 5: make people feel on your team, to generate as much

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Speaker 5: as you can from them, and have everybody on the

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Speaker 5: right page. And the guy's just great to have.

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Speaker 3: You know.

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Speaker 1: A funny story about Sammy, and I don't think I've

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Speaker 1: told you this story, but about two years ago I

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Speaker 1: was going on a private trip with the whole APEX

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Speaker 1: crew and we're taking a private jet out of Dallas

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Speaker 1: to Cabo and a bunch of new faces were there.

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Speaker 1: And this was about my second Cabo trip with those guys.

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Speaker 1: And they're always great trips. Man. You know, private playing

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Speaker 1: you go down to Cago, you got security mansions taking

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Speaker 1: care of and it's really just a good group of

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Speaker 1: people getting together. A lot of them have never met

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Speaker 1: each other, and you just get together and you figure

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Speaker 1: out how you can make money, and you strategize about

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Speaker 1: how to build teams and culture and relationships.

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Speaker 3: And at the airport, I see Sammy.

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Speaker 1: Now, for most of you who don't know Sammy, Sammy

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Speaker 1: imagine like kind of like a cross between a Santa

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Speaker 1: Claus and a hunter and a good old boy and kind.

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Speaker 3: Of a redneck, but in a non racist way. Right.

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Speaker 1: But when I saw Sammy and I'm idea again, We're

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Speaker 1: going to Cabo and the dude is wearing all camo

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Speaker 1: like hunting camera, like he's about to go deer, and

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Speaker 1: I'm like, bro, I don't think there's any hunting in Cabo.

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Speaker 1: You know, women, that's a lot it And Sammy, you know,

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Speaker 1: is devoted. He's got a wife, and so I was like, man,

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Speaker 1: what is this guy doing?

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Speaker 4: You know?

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Speaker 1: And this is something I try to share with people

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Speaker 1: as many times as I can. And that's my biggest

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Speaker 1: downfall growing up was I always would judge people very

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Speaker 1: quickly based on what they're wearing, what they look like,

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Speaker 1: and man, shame on me, you know, and I've said

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Speaker 1: that several times different people where I stand corrected. I'm like,

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Speaker 1: when when I first met you, I just thought you

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Speaker 1: were just a country bumpkin that didn't know where he

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Speaker 1: was going and you.

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Speaker 3: Wore the wrong outfit for this trip.

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Speaker 1: And by the end of it, he'd left such an

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Speaker 1: impact not just on me, but everybody in that room.

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Speaker 1: So what an honor to have that as a partner

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Speaker 1: and vice versa for him as well, because I know

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Speaker 1: you're very credible in the industry, and it is kind

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Speaker 1: of a you know, there's a lot of sketchy people

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Speaker 1: in that industry.

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Speaker 5: Would you say it's crazy to say the least, To

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Speaker 5: say the least, it's crazy, And to have someone of

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Speaker 5: his caliber behind what we're doing and what we're trying

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Speaker 5: to build is a huge benefit, you know, as a

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Speaker 5: leader and as a mentor. It's something you can't put

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Speaker 5: a price.

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Speaker 3: On that, you know.

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Speaker 1: Again, you and I just speaking at lunch. I got

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Speaker 1: pretty excited because we've been talking about what we can

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Speaker 1: do for my audience and for the audience of cannabis

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Speaker 1: talk one on one to empower them and really get

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Speaker 1: their mind right around making money, right. So a lot

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Speaker 1: of people listening right now have other sources of income.

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Speaker 1: They're not looking to get necessarily into the mortgage industry.

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Speaker 1: But I feel personally that there's some programs out there

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Speaker 1: right now that, out of everything that I've seen in

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Speaker 1: the money game for the past twenty five years, this

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Speaker 1: is the easiest. Nothing is easy, but this is the

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Speaker 1: most cost effective and the barriers to entry being solo

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Speaker 1: right now to owning real estate. Now, if you guys

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Speaker 1: watched the last couple of shows that we did, you

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Speaker 1: guys will realize a big theme that I've been falling

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Speaker 1: on is real estate. And again, I have nothing to

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Speaker 1: sell you, guys. There's not some magic pill. But what

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Speaker 1: I can just share with you is my experiences, and

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Speaker 1: what I found is, Man, the people that I want

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Speaker 1: to em late to have real wealth, Like f you money,

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Speaker 1: it's always real estate.

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Speaker 3: You know.

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Speaker 1: It's never some hot stock tip, it's never some crypto bullshit.

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Speaker 1: All that stuff is like flash you know, shiny objects.

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Speaker 3: Right.

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Speaker 5: The crazy part about real estate is you know, everybody

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Speaker 5: needs somewhere to live.

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Speaker 3: Yep.

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Speaker 5: Rents aren't going down, and at the end of the day,

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Speaker 5: appreciation on the value of the property. You're making money

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Speaker 5: in two aspects, appreciation and in rent residual income. So

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Speaker 5: that's how they're becoming wealthy.

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Speaker 1: And there's a third category which I which I would

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Speaker 1: encourage you to include in that man is and I

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Speaker 1: learned about it the hard way because again here I

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Speaker 1: am a financial advisor making all sorts of money. I

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Speaker 1: was making seven figures and then one day my seep

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Speaker 1: and I used to always want to rent, like ball

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Speaker 1: baller penhouses and the fancias, high rises and apartments, but

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Speaker 1: I was thrown, you know, ten grand away a month.

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Speaker 1: You start doing that math, you're like, all right, after

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Speaker 1: two years, I literally flushed a quarter million dollars down

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Speaker 1: the drain. Now my CPA comes to me one day,

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Speaker 1: is like, dude, the same money you're spending on your mortgage,

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Speaker 1: you could have had a two million dollar house for

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Speaker 1: free because of the depreiation and the tax benefits.

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Speaker 3: Correct.

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Speaker 1: And so that's something that I feel like most people

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Speaker 1: aren't getting educated enough about. It's like, dude, if you're

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Speaker 1: making decent money and you're renting, and you know, like me,

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Speaker 1: I didn't have any kids, so I was like, what

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Speaker 1: was my deductions? I didn't have shit so when I

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Speaker 1: did buy my house, I was literally free. I mean

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Speaker 1: that house was literally free and out putting money in

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Speaker 1: my pocket.

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Speaker 5: There's a lot of things that you do taxis with that.

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Speaker 5: I don't talk about it too much just because it's

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Speaker 5: not my forte and not my lane, but you're absolutely right.

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Speaker 5: It is another avenue of creating and helping you create wealth.

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Speaker 1: And you know, my vision for you, bro on the

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Speaker 1: show is you know, we got doctor Chalmers, I got

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Speaker 1: a couple other experts that I've kind of made a

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Speaker 1: face of the show. My hope with you is that

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Speaker 1: you educate our audience on a couple of ideas today

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Speaker 1: that they could go home and implement, whether it's not themselves,

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Speaker 1: a family member, a brother, or a parent. And I

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Speaker 1: think right now of people that can band together if

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Speaker 1: you have good credit or bad credit or capital and

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Speaker 1: for the first time you don't really even need that

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Speaker 1: much capital. Give us an idea, like right now, if

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Speaker 1: I look out in the studio audience right now and

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Speaker 1: you get the average thirty five forty year old, you know,

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Speaker 1: making a decent amount of money, how cheap is it

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Speaker 1: or what programs? What's the lowest down payment? I need

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Speaker 1: to get into house right now. What are those numbers?

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Speaker 5: The lowest down payment right now is faha going three

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Speaker 5: and a half percent right if government now, also government,

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Speaker 5: if you are ex military, you could actually get in

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Speaker 5: for zero.

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Speaker 1: So say that part again. If you're ex military right now,

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Speaker 1: you can buy a house for a zero down.

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Speaker 3: Zero down, absolutely one wow.

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Speaker 5: And then the other route is going faha, which would

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Speaker 5: be three and a half percent. And mind you, that's

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Speaker 5: for either a single family up to four units, so

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Speaker 5: you could go to the single family route or you

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Speaker 5: go up to four units where you start creating that

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Speaker 5: residual income and that wealth that we're talking about.

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Speaker 1: Dude, And that's something you know again, the timeliness of

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Speaker 1: having you on the show right now. Uh, this program

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Speaker 1: that we're just talking about, I've been reading about it.

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Speaker 1: I was researching it and I was like, nobody is

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Speaker 1: freaking talking about it? And you, I asked you, I said,

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Speaker 1: is there a catch?

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Speaker 3: Who said? There's no catch? The only catch is you've

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Speaker 3: got to educate people.

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Speaker 1: Right and unfortunately, and you're in industry and most money

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Speaker 1: commission making industries they're transactional and that you nailed it

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Speaker 1: today at lunchman, and it's like, I look back at

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Speaker 1: all the relationships I've had in the real estate game,

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Speaker 1: the ones that survived it were the ones that were

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Speaker 1: always there for me. If I had a stupid question

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Speaker 1: or what I thought was a stupid question, they were

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Speaker 1: there to answer it. But when you educate people instead

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Speaker 1: of thinking about the transactional value of that relationship, instead

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Speaker 1: of the longevity value of that relationship, I think is

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Speaker 1: a game changer. So this new program, guys, is something

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Speaker 1: that literally two weeks ago, as God is my witness,

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Speaker 1: I reached out to my partners Gary and Frankino and

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Speaker 1: Blue and I said, guys, did you know this program's

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Speaker 1: coming out? Did you know that right now we should

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Speaker 1: be hustling and looking for duplexus, triplexus and four plexus

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Speaker 1: and all we need is like one hundred grand for

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Speaker 1: a two million dollar property. I mean that's five percent.

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Speaker 1: And here's the other kicker, Guys like I always try

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Speaker 1: to look for angles in right, So if you can

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Speaker 1: just get a real estate agent, which if you can

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Speaker 1: fog a mirror, you can pass the real estate agent

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Speaker 1: license right, or link up with someone who has it. Well,

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Speaker 1: if you acquire that asset through a broker, you just

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Speaker 1: got a three percent commission, so now you're literally using

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Speaker 1: a half a percent down, So that means for I

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Speaker 1: can't even do that math.

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Speaker 3: It's so low. It's like for ten grand and get

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Speaker 3: a million dollar property. I mean, it's the equivalent of that.

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Speaker 3: It's nuts.

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Speaker 5: The program you're talking about is also Conventional, which you've

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Speaker 5: mentioned to me or when we got here. So Fanny

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Speaker 5: made came out that now they're allowing for one to

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Speaker 5: four U minutes primary to be at five percent down

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Speaker 5: as well. Oh wow, so now FAHA is at three

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Speaker 5: and a half, Conventional is at five. The difference is

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Speaker 5: basically there's different guidelines for each for each program, right,

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Speaker 5: so Conventional is a little bit more linient property wise.

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Speaker 5: FACHA is more linient as far as income wise, so

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Speaker 5: they're a little stricter on how the property has to

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Speaker 5: be liverable, so on and so forth, where Conventional be

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Speaker 5: linient on the appraisal portion, but they're stricter on the income.

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Speaker 5: What I mean by that by your debt to income,

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Speaker 5: where FAHA is more linient on that aspect.

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Speaker 1: And here's a you know, kind of give you guys

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Speaker 1: a background. I think you heard me talk about it

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Speaker 1: on the last show. So the last house that I

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Speaker 1: bought in Irvine, I did with that FHA, and I

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Speaker 1: had great income. I think I had pretty decent credit.

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Speaker 1: I think I was going through some dings for my

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Speaker 1: foremre partner. But I think I was like sub seven

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Speaker 1: hundred long story longer for three and a half or so.

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Speaker 1: For twenty two thousand dollars, I got a seven hundred

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Speaker 1: thousand dollars house ish and you know, three years later

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Speaker 1: the thing hit nine hundred thousand. And you can't make

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Speaker 1: returns like that anywhere. And I live for free, you know,

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Speaker 1: I mean, if you really look at it, plus the

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Speaker 1: tax benefits. Now, for the audience at home, before we

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Speaker 1: take a break, define FAHA government. I mean, there's a

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Speaker 1: lot of acronyms that we're kind of familiar with, but

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Speaker 1: I'd love to kind of get a refresher. What's the

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Speaker 1: difference between an FSJ and a traditional.

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Speaker 5: So the FAHA is Federal Housing Association. It is government

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Speaker 5: and backed by the government, so therefore there's more leniency

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Speaker 5: on the guidelines. Right, So basically, your to income could

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Speaker 5: be higher, so it allows you to qualify for more.

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Speaker 5: Where conventional and traditional they have they follow the fandy

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Speaker 5: MA guidelines, which at that point they're a little more

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Speaker 5: stricter on the DTI, but like I said, they're a

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Speaker 5: little bit more lenient on what the property actually looks like.

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Speaker 3: Very cool.

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Speaker 1: Yeah, you know, for me, that primary residence that I

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Speaker 1: bought is obviously where I lived, but where I'm looking

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Speaker 1: at it now, And maybe this existed back then, but

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Speaker 1: again I didn't have somebody like you. I'm looking at

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Speaker 1: this from an investment standpoint. Guys, So what he's talking

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Speaker 1: about income requirements. You may think like, all right, well,

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Speaker 1: you know, mom and dad will give me like fifty

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Speaker 1: grand or a hundred grand, or I could partner up

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Speaker 1: with somebody that has that capital and I have decent credit,

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Speaker 1: but I don't have the income. Well, here's the cool

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Speaker 1: thing about a double duplex, triplex four plex. Rents are

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Speaker 1: through the roof. I don't know, if you're living in Alaska,

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Speaker 1: it's probably even gone up high, right, So when you

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Speaker 1: calculate the rents that you can be charging in these

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Speaker 1: other units, essentially that's your income. So if you're only

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Speaker 1: making fifty grand, one hundred grand, whatever that number is,

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Speaker 1: you can add on if you're charging three grand a

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Speaker 1: unit for the other three. You just added on another

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Speaker 1: one hundred and twenty thousand plus income and that's legal,

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Speaker 1: and you can legitimize that. You can show it goes

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Speaker 1: towards your income. You know, you haven't booked yet, right,

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Speaker 1: so it really gives you guys. You know, for those

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Speaker 1: of you that are hustlers and grinders, I mean, I

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Speaker 1: would be on the lookout, reach out to your brokers,

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Speaker 1: let them know that you're in the market. And the

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Speaker 1: catch is you got to be living in one of

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Speaker 1: the units. There's little workarounds on that in the gray area.

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Speaker 1: But at the end of the day, you know, if

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Speaker 1: you're young and you want to get up in the game,

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Speaker 1: what I would say is, man, find a duplex, triplex,

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Speaker 1: four plex, run out the other three, rehabit in a

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Speaker 1: year or two, cash out REFI because at some point

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Speaker 1: rates will theoretically drop and now you pull that equity

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Speaker 1: back out from Grinson repeat. We're going to talk about

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Speaker 1: that in a later segment. I'm going to take a

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Speaker 1: break right now. When we've come back, I want to

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Speaker 1: ask you the Financial Friday five. We'll be right back

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Speaker 1: on Financial Fridays.

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Speaker 2: We'll be right back with the Financial Friday five on

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Speaker 2: Cannabis Talk, one on one's Financial Fridays with the Insider

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Speaker 2: Investor Tony K. Welcome back to Cannabis Talk, one on

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Speaker 2: one's Financial Fridays with the Insider Investor Tony K. It's

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Speaker 2: now time for the Financial Friday five.

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Speaker 1: Guess what, guys, It is open enrollment for health insurance.

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Speaker 1: And if you've heard the past few episodes, you knew

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Speaker 1: that I did not have health insurance all up until

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Speaker 1: last year. But now I'm finally in open enrollment. Super

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Speaker 1: stoked to be working with Clearwater Health. You guys, if

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Speaker 1: you want better health at better costs, check out clearwaterhealth

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Speaker 1: dot com. They're going to have a presence at Mjbiscon

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Speaker 1: as well. This is a brand new group that we've

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Speaker 1: been partnered up with. Super excited because not only are

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Speaker 1: the knowledgeable, not only is it cost effective. In fact,

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Speaker 1: they don't even want your business if they can't save

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Speaker 1: you money.

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Speaker 3: Two things. Reach out to them. If you already have

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Speaker 3: a plan, show them what you got.

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Speaker 1: They're either going to beat it or they're going to

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00:17:36,840 --> 00:17:39,040
Speaker 1: tell you you're already in good shape. And if you

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Speaker 1: don't have insurance like I did, now why didn't it

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00:17:41,119 --> 00:17:43,159
Speaker 1: wasn't that I couldn't necessarily afford it. It was just

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00:17:43,240 --> 00:17:45,399
Speaker 1: it seemed like such a pain in the ass. You know,

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Speaker 1: the deductibles were through the roof. I didn't understand the plans,

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Speaker 1: and then I get something, and then when something was

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Speaker 1: wrong with me.

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Speaker 3: It take forever to see somebody. I was like, well shit,

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Speaker 3: I'll just go to urgent care.

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Speaker 1: But I tell you why, guys, I'm super stoked to

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Speaker 1: be working with these guys, and they are cannabis friendly,

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Speaker 1: so you don't have to lie on your application. Hit

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Speaker 1: him up clearwaterhealth dot com. Now we are back here

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00:18:02,920 --> 00:18:05,879
Speaker 1: on Financial Fridays with my man, Fabian Rabel. He is

436
00:18:06,240 --> 00:18:09,240
Speaker 1: the founder and he is the legend in the mortgage game.

437
00:18:09,280 --> 00:18:10,960
Speaker 1: He's somebody that I'm going to bring you guys to

438
00:18:11,080 --> 00:18:13,199
Speaker 1: educate you. By the end of the show, you're going

439
00:18:13,240 --> 00:18:14,640
Speaker 1: to know exactly how to get a hold of him

440
00:18:14,640 --> 00:18:16,520
Speaker 1: and a couple of events that we're talking about throwing

441
00:18:16,520 --> 00:18:18,920
Speaker 1: together to really just educate people. Man, we have nothing

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00:18:18,920 --> 00:18:22,879
Speaker 1: to sell other than education, which is free. Fabian, we

443
00:18:22,920 --> 00:18:24,840
Speaker 1: do something here called the Financial Friday five on and

444
00:18:24,880 --> 00:18:26,440
Speaker 1: puts you through five questions. You have no idea what

445
00:18:26,480 --> 00:18:28,119
Speaker 1: I'm going to ask you, but if you've listened to

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00:18:28,160 --> 00:18:31,280
Speaker 1: the show, you know what they are. So question number one,

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00:18:31,280 --> 00:18:34,320
Speaker 1: my man, what is the best investment you have ever made?

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00:18:35,080 --> 00:18:37,639
Speaker 5: Best investment I've ever made was building a duplex that

449
00:18:37,720 --> 00:18:43,560
Speaker 5: I did when I was twenty six. Basically tore down

450
00:18:43,560 --> 00:18:46,000
Speaker 5: the house I grew up in and built two houses

451
00:18:46,000 --> 00:18:49,040
Speaker 5: on the lot that my parents said at the time,

452
00:18:49,119 --> 00:18:50,680
Speaker 5: and this was in Long Beach, No, this is in

453
00:18:50,760 --> 00:18:51,720
Speaker 5: the San gabri roseme.

454
00:18:52,200 --> 00:18:54,240
Speaker 3: No shit, yeah, so did that.

455
00:18:54,520 --> 00:18:56,600
Speaker 5: And then funny thing is I moved my parents to

456
00:18:56,640 --> 00:19:00,399
Speaker 5: the front house and basically my grandmother lived in the

457
00:19:00,440 --> 00:19:01,960
Speaker 5: back with my great grandmother, and I went and bought

458
00:19:01,960 --> 00:19:02,760
Speaker 5: my grandfather's house.

459
00:19:02,840 --> 00:19:04,880
Speaker 1: Well, there you go. So it wasn't necessarily a good investment.

460
00:19:04,880 --> 00:19:06,680
Speaker 1: It just felt good because I'm sure they weren't paying

461
00:19:06,720 --> 00:19:07,359
Speaker 1: mark and rands.

462
00:19:07,440 --> 00:19:10,840
Speaker 5: No, But it's I mean, it's an appreciation itself. So

463
00:19:11,040 --> 00:19:13,440
Speaker 5: that's what you got to look at. There's two avenues

464
00:19:13,480 --> 00:19:16,160
Speaker 5: to it, all right. So with I mean, we spent

465
00:19:16,400 --> 00:19:20,560
Speaker 5: maybe about four fifty four to seventy five building the boat.

466
00:19:20,800 --> 00:19:23,960
Speaker 5: You know, maybe let's let's round up to five on.

467
00:19:23,960 --> 00:19:26,120
Speaker 3: Both you and the tear down. You tore it down

468
00:19:26,160 --> 00:19:26,840
Speaker 3: and wear it down.

469
00:19:27,000 --> 00:19:32,000
Speaker 5: Brand new two units, two Spanish style homes, and basically

470
00:19:32,040 --> 00:19:34,719
Speaker 5: we spent about five hundred k. I mean, last time

471
00:19:34,720 --> 00:19:36,960
Speaker 5: I got appraise, there were at one point six nine

472
00:19:36,960 --> 00:19:37,760
Speaker 5: twenty seven.

473
00:19:37,680 --> 00:19:39,639
Speaker 3: And how long was that? This was in two thousand

474
00:19:39,680 --> 00:19:41,440
Speaker 3: and four, two thousand and five.

475
00:19:41,560 --> 00:19:44,240
Speaker 1: Okay, yeah, so literally triple the money. You got a

476
00:19:44,240 --> 00:19:46,399
Speaker 1: great place to live, the tax appreciation, all of it,

477
00:19:46,440 --> 00:19:47,160
Speaker 1: and it's still there.

478
00:19:47,680 --> 00:19:49,200
Speaker 3: So where we're at my very cool. Yeah.

479
00:19:49,200 --> 00:19:50,720
Speaker 1: You know, the first real estate deal that I did,

480
00:19:50,720 --> 00:19:52,159
Speaker 1: I still drive by it all the time and I

481
00:19:52,160 --> 00:19:53,879
Speaker 1: do the math, and you know, at that time, I

482
00:19:53,920 --> 00:19:55,160
Speaker 1: was like, oh, I'm going to make one hundred grand,

483
00:19:55,200 --> 00:19:56,879
Speaker 1: and I got out of it, unfortunately, say thing.

484
00:19:56,960 --> 00:19:58,639
Speaker 3: And I think I bought it for like three hundred thousand.

485
00:19:58,680 --> 00:20:00,000
Speaker 3: It's like worth one point four.

486
00:20:00,760 --> 00:20:02,520
Speaker 1: I think I was excited that I sold for like

487
00:20:02,560 --> 00:20:04,840
Speaker 1: five hundred six hundred thousand, but you never know, you know, well,

488
00:20:05,080 --> 00:20:06,880
Speaker 1: I take that back. The other thing about real estate,

489
00:20:06,960 --> 00:20:08,879
Speaker 1: right is always goes up. I mean unless you're buying

490
00:20:08,920 --> 00:20:11,400
Speaker 1: just in a shitty, shitty area, but it'll dip, it'll

491
00:20:11,480 --> 00:20:14,080
Speaker 1: kind of creston valleys, but it always ends up.

492
00:20:14,080 --> 00:20:15,960
Speaker 5: But you'd be surprised even if you bind an area

493
00:20:16,040 --> 00:20:19,280
Speaker 5: that's you know, not in the greatest areas, there's ways

494
00:20:19,280 --> 00:20:21,479
Speaker 5: to turn that around. I mean, you can make that

495
00:20:21,520 --> 00:20:24,159
Speaker 5: into a Section eight property where you're getting paid by

496
00:20:24,160 --> 00:20:26,320
Speaker 5: the government eighty percent of the rent that you're charging

497
00:20:26,720 --> 00:20:29,560
Speaker 5: and you're guaranteed that money direct posit from the government.

498
00:20:29,600 --> 00:20:31,920
Speaker 5: So there's avenues of being able to leverage those type

499
00:20:31,960 --> 00:20:32,440
Speaker 5: of things too.

500
00:20:32,960 --> 00:20:34,639
Speaker 1: Yeah, man, And I think that's one of the things

501
00:20:34,680 --> 00:20:37,119
Speaker 1: I'm really excited about, not just for the audience but

502
00:20:37,160 --> 00:20:38,600
Speaker 1: for myself too, because.

503
00:20:39,080 --> 00:20:40,280
Speaker 3: You tapped onto really well.

504
00:20:40,320 --> 00:20:42,720
Speaker 1: It's like there's so many facets that you can play

505
00:20:42,720 --> 00:20:45,399
Speaker 1: these not angles. But if you've educated yourself on what

506
00:20:45,480 --> 00:20:48,399
Speaker 1: Section eight is, on the loan programs we're talking about,

507
00:20:48,680 --> 00:20:50,879
Speaker 1: on the nuances of you know, everybody's just like, well

508
00:20:50,920 --> 00:20:52,159
Speaker 1: I got to live there. I'm not going to live there,

509
00:20:52,200 --> 00:20:53,600
Speaker 1: you know. But all you need is you know, some

510
00:20:53,720 --> 00:20:56,240
Speaker 1: utility bills and make a pit stop and occasionally how

511
00:20:56,359 --> 00:20:58,040
Speaker 1: the place could be empty and is probably still better

512
00:20:58,040 --> 00:20:59,199
Speaker 1: for you to do, you know what I mean as

513
00:20:59,240 --> 00:21:01,919
Speaker 1: a primary residence. So there's so many little things that

514
00:21:01,960 --> 00:21:04,159
Speaker 1: you can do that if you have the right group,

515
00:21:04,240 --> 00:21:06,480
Speaker 1: the right educating group, and what I like about what

516
00:21:06,560 --> 00:21:08,840
Speaker 1: I want to create with you is I just want

517
00:21:08,880 --> 00:21:10,880
Speaker 1: to trusted source where people can tap into and ask

518
00:21:10,880 --> 00:21:12,520
Speaker 1: those kind of questions because even today, I mean, I

519
00:21:13,040 --> 00:21:15,159
Speaker 1: knew about this program, I've read everything on it, but

520
00:21:15,200 --> 00:21:17,159
Speaker 1: I wanted to hear your take on what the catch is,

521
00:21:17,200 --> 00:21:19,440
Speaker 1: what the nuances is, and you know which one makes

522
00:21:19,480 --> 00:21:22,280
Speaker 1: more sense they've had shape portion or the conventional. So

523
00:21:22,400 --> 00:21:24,840
Speaker 1: question number two on the Financial Friday five man, is

524
00:21:24,960 --> 00:21:27,719
Speaker 1: what is the worst investment that you've ever made? Now,

525
00:21:27,760 --> 00:21:30,840
Speaker 1: this could be into a business or a partner or

526
00:21:30,840 --> 00:21:31,280
Speaker 1: a person.

527
00:21:33,400 --> 00:21:36,240
Speaker 5: Sometimes trusting the wrong people, you know, just doing a

528
00:21:36,240 --> 00:21:37,360
Speaker 5: little bit more due diligence.

529
00:21:37,440 --> 00:21:40,359
Speaker 3: Yeah, I know that.

530
00:21:40,480 --> 00:21:43,560
Speaker 5: I think that's probably what's been mean the asked more

531
00:21:43,720 --> 00:21:44,720
Speaker 5: so than anything.

532
00:21:44,440 --> 00:21:47,720
Speaker 3: Ever, so trusting the wrong person right pretty much. You know.

533
00:21:49,520 --> 00:21:52,879
Speaker 5: I've always been taught you go into things good faith

534
00:21:53,000 --> 00:21:57,199
Speaker 5: and you always put your best foot forward, you know.

535
00:21:57,240 --> 00:21:59,480
Speaker 5: And I learned at an early age. The first person

536
00:21:59,520 --> 00:22:01,880
Speaker 5: actually went business with he did.

537
00:22:01,720 --> 00:22:03,040
Speaker 3: Me dirty like bad.

538
00:22:03,359 --> 00:22:08,200
Speaker 5: Yeah, you know, I ended up losing six figures with him.

539
00:22:08,440 --> 00:22:11,800
Speaker 5: I was only when it all happened, I was what

540
00:22:12,520 --> 00:22:14,800
Speaker 5: twenty eight years old. I had my first kid that

541
00:22:14,920 --> 00:22:18,639
Speaker 5: was a couple months old. And basically, you know, finding

542
00:22:18,640 --> 00:22:21,359
Speaker 5: out I was going to literally get bent over. Yeah,

543
00:22:21,560 --> 00:22:24,400
Speaker 5: you know it. It made me realize a lot of things.

544
00:22:24,440 --> 00:22:25,360
Speaker 3: It made me learn.

545
00:22:27,240 --> 00:22:29,600
Speaker 5: Do a little bit more due diligence and not to

546
00:22:29,600 --> 00:22:31,000
Speaker 5: always have your eggs in one spot.

547
00:22:31,280 --> 00:22:34,159
Speaker 1: Yeah you know, And you know, you're remind me a

548
00:22:34,160 --> 00:22:36,320
Speaker 1: lot of myself. In the years that I've known you, Like,

549
00:22:36,480 --> 00:22:38,760
Speaker 1: we've gone through a couple of good and bad partnerships,

550
00:22:38,760 --> 00:22:40,720
Speaker 1: and I think guys like us are always going to

551
00:22:40,840 --> 00:22:42,520
Speaker 1: still have a good heart, big heart. There's going to

552
00:22:42,560 --> 00:22:44,600
Speaker 1: be guys that take advantage of that. And I think

553
00:22:44,640 --> 00:22:46,880
Speaker 1: now what we're realizing is that damage is just last.

554
00:22:47,040 --> 00:22:48,960
Speaker 1: I don't think I'm ever going to have jaded. I'm

555
00:22:48,960 --> 00:22:53,000
Speaker 1: always going to be in business with someone. Recently, somebody's like,

556
00:22:53,000 --> 00:22:54,879
Speaker 1: why would you want to go in business with your friends?

557
00:22:54,880 --> 00:22:56,359
Speaker 1: And I was like, fuck, am I going to do

558
00:22:56,400 --> 00:22:57,520
Speaker 1: go in business with my enemies?

559
00:22:57,560 --> 00:22:57,760
Speaker 3: You know?

560
00:22:57,840 --> 00:22:59,600
Speaker 1: So yeah, I want to hang out with people that

561
00:22:59,640 --> 00:23:01,879
Speaker 1: I do is it's with you know, whether it's Skuy's

562
00:23:01,880 --> 00:23:03,960
Speaker 1: here at the studio or somebody like yourself or my

563
00:23:04,040 --> 00:23:07,000
Speaker 1: partners on Insider Investor Club. Like, I don't want to

564
00:23:07,000 --> 00:23:09,359
Speaker 1: do business with my enemies, but I do get fucked

565
00:23:09,400 --> 00:23:10,679
Speaker 1: over with my friends occasionally.

566
00:23:10,840 --> 00:23:12,960
Speaker 3: Guess what, I figured out they're not the right friends, right.

567
00:23:13,040 --> 00:23:15,320
Speaker 5: It just gets down to the point where you got

568
00:23:15,359 --> 00:23:17,880
Speaker 5: to make sure you're on the same path. Right then

569
00:23:17,920 --> 00:23:21,640
Speaker 5: you have the same the same beliefs that lines up.

570
00:23:21,680 --> 00:23:23,879
Speaker 5: I think you're pretty much in in.

571
00:23:25,440 --> 00:23:26,000
Speaker 3: A good path.

572
00:23:26,200 --> 00:23:29,879
Speaker 5: I mean, if something starts acting up or whatnot, you

573
00:23:29,920 --> 00:23:31,399
Speaker 5: got to bring it up to light right away and

574
00:23:31,400 --> 00:23:32,800
Speaker 5: not hold it. That's the one thing. I think when

575
00:23:32,840 --> 00:23:34,480
Speaker 5: you're doing business with friends, you kind of like sit

576
00:23:34,560 --> 00:23:36,919
Speaker 5: back a little bit longer than you normally would. So

577
00:23:36,960 --> 00:23:39,000
Speaker 5: I think that's the one thing. Now for me, it's

578
00:23:39,040 --> 00:23:41,720
Speaker 5: easier to be like, hey, what's going on with X

579
00:23:41,840 --> 00:23:44,399
Speaker 5: y Z instead of like holding my tongue a.

580
00:23:44,359 --> 00:23:46,760
Speaker 1: Little Yeah, no, I hear you on that. Now, talking

581
00:23:46,760 --> 00:23:49,200
Speaker 1: about yourself, let's just be selfish for a little bit.

582
00:23:49,240 --> 00:23:51,320
Speaker 1: What's the best present you ever bought yourself?

583
00:23:51,680 --> 00:23:53,520
Speaker 3: Best present I've ever bought myself?

584
00:23:55,520 --> 00:23:59,600
Speaker 5: Uh, I want to say my first house. Okay, literally,

585
00:24:00,240 --> 00:24:03,680
Speaker 5: it was my grandfather's house and it was the best

586
00:24:03,720 --> 00:24:06,040
Speaker 5: present I ever bought myself. But then you're gonna laugh

587
00:24:06,040 --> 00:24:07,600
Speaker 5: because it was the worst financial decision.

588
00:24:08,320 --> 00:24:09,840
Speaker 3: Why is that? Because I wish.

589
00:24:09,720 --> 00:24:12,840
Speaker 5: Someone was leading me in the right way and telling

590
00:24:12,880 --> 00:24:14,200
Speaker 5: me it was my first house and I should have

591
00:24:14,240 --> 00:24:14,720
Speaker 5: bought units.

592
00:24:15,920 --> 00:24:16,520
Speaker 3: Dude, I love that.

593
00:24:16,600 --> 00:24:18,879
Speaker 1: Like literally every answer right now is real estate oriented,

594
00:24:19,000 --> 00:24:20,520
Speaker 1: and I was teeing you up on that. You're kind

595
00:24:20,520 --> 00:24:23,120
Speaker 1: of modest, but it's there's another little congratulations I owe.

596
00:24:23,200 --> 00:24:25,080
Speaker 1: It's like, you know, you just had your daughter's kin snira.

597
00:24:25,240 --> 00:24:27,200
Speaker 1: Oh and I know that was not cheap. So that's

598
00:24:27,200 --> 00:24:30,160
Speaker 1: another little proud Papa present. You'll probably a ply yourself.

599
00:24:30,440 --> 00:24:32,320
Speaker 1: She's my like she's your angel.

600
00:24:32,160 --> 00:24:34,359
Speaker 3: She's my wife's everything. You know.

601
00:24:34,960 --> 00:24:36,720
Speaker 5: It's funny because a lot of people are like, oh,

602
00:24:36,840 --> 00:24:40,320
Speaker 5: you know, something saved your life, and she just saved

603
00:24:40,320 --> 00:24:40,600
Speaker 5: my life.

604
00:24:40,600 --> 00:24:40,959
Speaker 3: Period.

605
00:24:41,480 --> 00:24:43,679
Speaker 5: There was a moment in my life where if I

606
00:24:43,680 --> 00:24:44,880
Speaker 5: didn't have her, who knows.

607
00:24:44,800 --> 00:24:46,359
Speaker 3: Where I would be here right now. You'd be a

608
00:24:46,480 --> 00:24:49,080
Speaker 3: train made a train wreck, or made a bad decision.

609
00:24:49,280 --> 00:24:49,480
Speaker 3: You know.

610
00:24:49,600 --> 00:24:52,040
Speaker 5: My dad made me realize, you know, when I was

611
00:24:52,080 --> 00:24:55,000
Speaker 5: going through that ship with my first business partner, Like,

612
00:24:55,400 --> 00:24:57,080
Speaker 5: don't get me wrong, I mean I literally want to

613
00:24:57,080 --> 00:25:00,359
Speaker 5: get up and do some damage. My dad made me realize,

614
00:25:00,359 --> 00:25:01,920
Speaker 5: do you want someone else raising your daughter? Do you

615
00:25:01,960 --> 00:25:05,520
Speaker 5: want to raise it with yourself? And I always kept

616
00:25:05,520 --> 00:25:07,440
Speaker 5: that in mind with everything that I do, you know,

617
00:25:07,600 --> 00:25:11,600
Speaker 5: because she is my pride and enjoy She everything I

618
00:25:11,760 --> 00:25:15,560
Speaker 5: do and try to do is to make her better

619
00:25:15,600 --> 00:25:16,160
Speaker 5: than myself.

620
00:25:16,280 --> 00:25:16,879
Speaker 3: That's COVID.

621
00:25:17,280 --> 00:25:19,359
Speaker 1: Yeah, no, And I think that's what the world is

622
00:25:19,400 --> 00:25:21,359
Speaker 1: lacking these days, is you know, real men that step up,

623
00:25:21,359 --> 00:25:23,879
Speaker 1: whether you're married or not. But so many fathers just

624
00:25:23,960 --> 00:25:25,680
Speaker 1: are are not there. But I know every time I've

625
00:25:25,680 --> 00:25:27,879
Speaker 1: talked to you, it's somehow or no that comes up.

626
00:25:28,119 --> 00:25:30,800
Speaker 1: Right now, you're showing me pictures of the contineers, and

627
00:25:30,840 --> 00:25:34,399
Speaker 1: congratulations on that, all right, man? The question number four,

628
00:25:34,720 --> 00:25:36,760
Speaker 1: what's the best present you've ever bought somebody else?

629
00:25:40,880 --> 00:25:47,400
Speaker 5: That's a hard one, you know, probably see Yeah, Honestly,

630
00:25:47,720 --> 00:25:50,280
Speaker 5: to be honest, you know, it wasn't just myself. You know,

631
00:25:50,320 --> 00:25:53,119
Speaker 5: I can't take full credit on that for myself. Like

632
00:25:54,280 --> 00:25:56,840
Speaker 5: you know, her mom was big on everything. Everybody that

633
00:25:56,880 --> 00:26:01,240
Speaker 5: did it, that helped with everything. So it wasn't something

634
00:26:01,320 --> 00:26:03,080
Speaker 5: like I say that I did on my own. But

635
00:26:03,119 --> 00:26:05,440
Speaker 5: I would say it's probably the greatest gift I've given

636
00:26:05,640 --> 00:26:08,760
Speaker 5: because the joy and the like the happiness I saw

637
00:26:09,119 --> 00:26:12,480
Speaker 5: her have that night, you know, she was smiling ear.

638
00:26:12,280 --> 00:26:14,600
Speaker 3: To ear she like, she had a blast.

639
00:26:14,920 --> 00:26:17,560
Speaker 5: So and it was all about her because a lot

640
00:26:17,600 --> 00:26:20,679
Speaker 5: of traditional is they have like you know, they have

641
00:26:21,480 --> 00:26:24,199
Speaker 5: the group dance and everything of that sort, and you know,

642
00:26:24,200 --> 00:26:27,280
Speaker 5: it kind of takes away from you know, the it's

643
00:26:27,320 --> 00:26:30,400
Speaker 5: her moment. So basically, you know, the thing I told

644
00:26:30,440 --> 00:26:32,360
Speaker 5: her was, look, it's all about you today. So at

645
00:26:32,359 --> 00:26:35,359
Speaker 5: that point, you're not gonna have a champlaine, You're not

646
00:26:35,359 --> 00:26:37,560
Speaker 5: gonna have the group or the dance, Like, this is

647
00:26:37,600 --> 00:26:39,240
Speaker 5: all about you. So what do you want to do

648
00:26:39,280 --> 00:26:41,360
Speaker 5: and how do you want to do it? And we

649
00:26:41,880 --> 00:26:43,119
Speaker 5: it was a beautiful day. We were able to have

650
00:26:43,160 --> 00:26:47,920
Speaker 5: it at the Sentinity to Racetrack, which is phenomenal, and

651
00:26:48,520 --> 00:26:50,280
Speaker 5: you know, it was just a special day.

652
00:26:50,400 --> 00:26:52,680
Speaker 3: That's cool, man, that's really cool. All right, man, we're

653
00:26:52,680 --> 00:26:53,320
Speaker 3: almost done here.

654
00:26:53,480 --> 00:26:55,680
Speaker 1: Question number five on the Financial Friday five is if

655
00:26:55,680 --> 00:26:57,960
Speaker 1: you could buy one thing money is not an object?

656
00:26:58,040 --> 00:27:01,240
Speaker 5: What would that be one thing and money was not

657
00:27:01,280 --> 00:27:06,359
Speaker 5: an object? Ship, Let's go back to real estate because

658
00:27:06,400 --> 00:27:08,480
Speaker 5: at that end of the day, that's just going to

659
00:27:08,560 --> 00:27:09,639
Speaker 5: generate more bit and more.

660
00:27:09,480 --> 00:27:11,719
Speaker 3: Money, like a massive just a massive apartment.

661
00:27:11,840 --> 00:27:14,320
Speaker 5: I stay, I stay in my lane. You know, I've

662
00:27:14,320 --> 00:27:17,040
Speaker 5: been in the industry for so long. A lot of

663
00:27:17,080 --> 00:27:20,639
Speaker 5: people try and do so many different things. And you know,

664
00:27:20,760 --> 00:27:24,040
Speaker 5: one thing I was always taught was when you try

665
00:27:24,040 --> 00:27:26,359
Speaker 5: and do too much, you don't become an expert in

666
00:27:26,400 --> 00:27:27,879
Speaker 5: what you're really truly trying to become in.

667
00:27:28,600 --> 00:27:31,480
Speaker 3: So you have to it some in some aspects, jack

668
00:27:31,520 --> 00:27:34,280
Speaker 3: of all trades, master of none exactly. So at the

669
00:27:34,320 --> 00:27:37,640
Speaker 3: end of the day, I do I would buy? Would I?

670
00:27:37,640 --> 00:27:37,959
Speaker 3: I know?

671
00:27:38,240 --> 00:27:40,200
Speaker 5: And I would literally, yeah, I would go with some

672
00:27:40,560 --> 00:27:45,360
Speaker 5: type of multiple apartment complex or something that's just going

673
00:27:45,359 --> 00:27:47,200
Speaker 5: to generate a ton of residual income.

674
00:27:47,640 --> 00:27:48,119
Speaker 3: That's funny.

675
00:27:48,119 --> 00:27:49,720
Speaker 1: My mom always says, you know, why didn't you just

676
00:27:49,760 --> 00:27:52,120
Speaker 1: stay into one thing, you know, whether it was financial

677
00:27:52,200 --> 00:27:54,040
Speaker 1: biasing and then real estate or this and that, And

678
00:27:54,080 --> 00:27:56,679
Speaker 1: I'm like, Mama, it is then they gets money. So now,

679
00:27:56,960 --> 00:27:58,960
Speaker 1: you know, one of my least favorite questions that people

680
00:27:58,960 --> 00:28:00,919
Speaker 1: ask me, it's like, oh, what you do? And it's like,

681
00:28:00,960 --> 00:28:02,960
Speaker 1: you know, at the level that we get to, it's

682
00:28:03,000 --> 00:28:04,960
Speaker 1: like it's not an easy question to answer, So it's

683
00:28:05,000 --> 00:28:05,919
Speaker 1: more like what don't I do?

684
00:28:06,080 --> 00:28:06,240
Speaker 3: Right?

685
00:28:06,320 --> 00:28:08,600
Speaker 1: So, now, if I just want to kind of mess

686
00:28:08,640 --> 00:28:10,640
Speaker 1: with someone, I just say I'm I'm a delivery driver

687
00:28:10,720 --> 00:28:11,280
Speaker 1: for Dominoes.

688
00:28:11,320 --> 00:28:14,119
Speaker 3: And then I see the reaction. Right, you quickly forgot

689
00:28:14,200 --> 00:28:17,240
Speaker 3: who the gold diggers are. Who's actually interesting.

690
00:28:16,880 --> 00:28:18,080
Speaker 5: What you have to say?

691
00:28:18,240 --> 00:28:19,320
Speaker 3: Absolutely all right.

692
00:28:19,240 --> 00:28:21,040
Speaker 1: Man man, Well, when we come back from this next break,

693
00:28:21,040 --> 00:28:22,360
Speaker 1: I want to hear a little bit more.

694
00:28:22,320 --> 00:28:23,920
Speaker 3: About how people can get a hold of you. Let's

695
00:28:23,920 --> 00:28:24,520
Speaker 3: talk about some of.

696
00:28:24,480 --> 00:28:26,280
Speaker 1: The joint events we want to do, and I want

697
00:28:26,280 --> 00:28:27,960
Speaker 1: to dive into a little bit more about what next

698
00:28:27,960 --> 00:28:29,879
Speaker 1: steps somebody could take right now if they want to

699
00:28:29,880 --> 00:28:31,240
Speaker 1: take action or anything we talked about.

700
00:28:31,240 --> 00:28:32,639
Speaker 3: We'll be right back on Financial Fridace.

701
00:28:32,640 --> 00:28:34,919
Speaker 2: We'll be right back with more Financial Fridays with the

702
00:28:34,960 --> 00:28:38,719
Speaker 2: Inside Investor Tony K. Make sure you follow Tony at

703
00:28:38,800 --> 00:28:50,160
Speaker 2: the Insider Investor. Welcome back to Cannabis Talk one on

704
00:28:50,240 --> 00:28:54,560
Speaker 2: ones Financial Fridays with the Inside Investor Tony K. Make

705
00:28:54,600 --> 00:28:56,520
Speaker 2: sure you like, follow and subscribe to.

706
00:28:56,480 --> 00:28:57,280
Speaker 3: The show now.

707
00:28:57,480 --> 00:28:59,720
Speaker 1: Listen up if you're on the East coast, West coast,

708
00:28:59,720 --> 00:29:03,400
Speaker 1: South coast, North coast, if there's such a thing. Cannabis

709
00:29:03,440 --> 00:29:06,120
Speaker 1: Talk one on one is parted up with Master Mentors Live.

710
00:29:06,120 --> 00:29:08,480
Speaker 1: We're going on tour, guys. The first events are coming

711
00:29:08,560 --> 00:29:10,840
Speaker 1: up here in about shit about a week. We're going

712
00:29:10,920 --> 00:29:12,600
Speaker 1: to be in New Jersey and New York. We're in

713
00:29:12,640 --> 00:29:14,960
Speaker 1: the East coast first that we're going to Atlanta, Dallas.

714
00:29:15,280 --> 00:29:18,560
Speaker 1: Check it out Mastermentorslive dot com. If you've ever wanted

715
00:29:18,560 --> 00:29:20,040
Speaker 1: to meet us in person, if you've wanted to get

716
00:29:20,080 --> 00:29:22,520
Speaker 1: an education in the cannabis space, whether it's on the

717
00:29:22,600 --> 00:29:26,480
Speaker 1: media side with our affiliation on the magazines, the international

718
00:29:26,480 --> 00:29:28,640
Speaker 1: magazine we just have, if you've ever ever wanted to

719
00:29:28,680 --> 00:29:30,720
Speaker 1: white label your own brand, if you ever wanted to

720
00:29:30,760 --> 00:29:33,600
Speaker 1: start your own dispensary, your own grow this is your

721
00:29:33,640 --> 00:29:37,960
Speaker 1: one stop shop for anything cannabis education. Master Mentors Live. Guys,

722
00:29:38,000 --> 00:29:40,400
Speaker 1: we're going on tour. I cannot wait for that. We

723
00:29:40,480 --> 00:29:42,560
Speaker 1: are now back here with my mant Fabian.

724
00:29:42,800 --> 00:29:43,160
Speaker 3: Fabian.

725
00:29:43,200 --> 00:29:45,280
Speaker 1: We've been talking about how people can get their money

726
00:29:45,280 --> 00:29:48,760
Speaker 1: game right using real estate now, unlike traditional real estate

727
00:29:48,760 --> 00:29:50,680
Speaker 1: where you've got to have hundreds of thousands of dollars.

728
00:29:50,720 --> 00:29:52,440
Speaker 1: I love what we're going to be rolling out with you,

729
00:29:52,880 --> 00:29:56,560
Speaker 1: which is basically showing people how for literally ten grand,

730
00:29:56,640 --> 00:29:58,880
Speaker 1: twenty grand, thirty grand, they could buy their first house.

731
00:29:58,920 --> 00:30:00,440
Speaker 1: And guys, if you think that's a a lot of money,

732
00:30:00,480 --> 00:30:02,320
Speaker 1: let me let me just explain to you. I've been

733
00:30:02,360 --> 00:30:05,440
Speaker 1: where you're at I've left paycheck to paycheck. I've bartended

734
00:30:05,560 --> 00:30:09,360
Speaker 1: flip Burgers, I've worked at Olive Garden, Little Caesar's Target.

735
00:30:09,600 --> 00:30:11,320
Speaker 1: There is not a job I haven't held. Most of

736
00:30:11,360 --> 00:30:13,640
Speaker 1: them were restaurant oriented before I got in this game.

737
00:30:13,840 --> 00:30:15,200
Speaker 1: But I'm going to tell you right now, there's a

738
00:30:15,240 --> 00:30:16,840
Speaker 1: lot of people that believe in you. If you have

739
00:30:16,880 --> 00:30:19,240
Speaker 1: the right plan, if you have the right real estate,

740
00:30:19,480 --> 00:30:22,480
Speaker 1: there's always money to be found. There's always somebody willing

741
00:30:22,520 --> 00:30:24,920
Speaker 1: to partner up with you, JV with you. And these

742
00:30:24,920 --> 00:30:27,520
Speaker 1: are all the things that that Fabian and myself can

743
00:30:27,600 --> 00:30:29,880
Speaker 1: kind of really educate you guys on and just give

744
00:30:29,880 --> 00:30:31,880
Speaker 1: you the strategies. We're not here to charge you by

745
00:30:31,920 --> 00:30:33,959
Speaker 1: the hour. We're not here to sell you some kind

746
00:30:34,000 --> 00:30:35,280
Speaker 1: of a mentorship program.

747
00:30:35,520 --> 00:30:35,720
Speaker 3: You know.

748
00:30:35,800 --> 00:30:37,600
Speaker 1: Really what we want to do is build a tribe

749
00:30:37,600 --> 00:30:40,240
Speaker 1: of people that can go find real estate, buy real estate. Hell,

750
00:30:40,280 --> 00:30:42,160
Speaker 1: we can do that shit together, you know, on a

751
00:30:42,240 --> 00:30:44,840
Speaker 1: JV side, Fabian, if somebody's sitting at home right now,

752
00:30:44,840 --> 00:30:46,520
Speaker 1: I want you to break down two categories. You got

753
00:30:46,520 --> 00:30:48,840
Speaker 1: somebody at home right now that's got maybe about fifty grand.

754
00:30:49,000 --> 00:30:51,920
Speaker 1: They make decent income, they got decent credit, They want

755
00:30:51,960 --> 00:30:53,560
Speaker 1: to get in the game what can they do to

756
00:30:53,600 --> 00:30:55,560
Speaker 1: buy their first income producing property?

757
00:30:56,560 --> 00:30:59,760
Speaker 5: So what I would do, Like I mentioned earlier, you know,

758
00:31:00,280 --> 00:31:02,880
Speaker 5: I bought my first house. It was one of my

759
00:31:02,880 --> 00:31:06,840
Speaker 5: private joys of moments, but it was also financially not

760
00:31:06,920 --> 00:31:09,120
Speaker 5: the right move right. The reason I say that is

761
00:31:09,400 --> 00:31:11,440
Speaker 5: when you buy a single family home, you have to

762
00:31:11,480 --> 00:31:14,480
Speaker 5: live in it as a primary You can't generate income

763
00:31:14,520 --> 00:31:17,120
Speaker 5: from it. So what I like to do and talk

764
00:31:17,160 --> 00:31:21,800
Speaker 5: to my first time buyers, my younger clientele, is we

765
00:31:21,880 --> 00:31:24,760
Speaker 5: look into buying three four units leveraging FHA.

766
00:31:24,880 --> 00:31:25,360
Speaker 3: What do we do?

767
00:31:25,360 --> 00:31:27,800
Speaker 5: We put three and a half percent down on those

768
00:31:27,800 --> 00:31:31,280
Speaker 5: three to four units. You have to live technically in

769
00:31:31,400 --> 00:31:34,560
Speaker 5: one unit for twelve months. The other two to three

770
00:31:34,640 --> 00:31:38,240
Speaker 5: units are generating income for you right the monthly rent

771
00:31:38,320 --> 00:31:41,280
Speaker 5: which typically two of them are going to take care

772
00:31:41,320 --> 00:31:43,600
Speaker 5: of the mortgage for you. The additional one is going.

773
00:31:43,600 --> 00:31:45,640
Speaker 3: To start creating cash flow.

774
00:31:46,040 --> 00:31:49,480
Speaker 5: And then after the year, then you go ahead and

775
00:31:49,600 --> 00:31:52,560
Speaker 5: make your next move right, which what I tell my

776
00:31:52,600 --> 00:31:54,600
Speaker 5: clientele is after that year, you go and you go

777
00:31:54,720 --> 00:31:57,840
Speaker 5: conventional and you go buy at least two units conventional wise,

778
00:31:58,000 --> 00:32:00,640
Speaker 5: there's ways to be able to do that two years

779
00:32:00,760 --> 00:32:05,720
Speaker 5: with five percent down you've created six doors with eight

780
00:32:05,720 --> 00:32:08,920
Speaker 5: and a half percent of the total cost right for

781
00:32:09,000 --> 00:32:11,360
Speaker 5: down payment. That's not including the closing costs, but for

782
00:32:11,400 --> 00:32:14,720
Speaker 5: the down payment purpose. Right then after that there's other

783
00:32:14,760 --> 00:32:17,640
Speaker 5: steps to create you know, more doors. Within the next

784
00:32:17,680 --> 00:32:19,920
Speaker 5: year or within the next six months, you go buy

785
00:32:19,960 --> 00:32:22,520
Speaker 5: a second home, which you could make that second home

786
00:32:22,560 --> 00:32:25,560
Speaker 5: also an airbnb because you'd buy it in an area

787
00:32:25,560 --> 00:32:29,520
Speaker 5: that would have some type of traffic right like out

788
00:32:29,520 --> 00:32:31,600
Speaker 5: here I would say, like Big Bear or something like

789
00:32:31,800 --> 00:32:35,720
Speaker 5: of that sense, and or Palm Springs. So now you're

790
00:32:35,800 --> 00:32:39,160
Speaker 5: running that out weekly. That's creating money for you and

791
00:32:39,280 --> 00:32:42,240
Speaker 5: everything like that. And for all those doors, you're still

792
00:32:42,320 --> 00:32:44,280
Speaker 5: under twenty percent yea of all that.

793
00:32:44,320 --> 00:32:44,520
Speaker 3: You know.

794
00:32:44,560 --> 00:32:47,280
Speaker 1: In the opening segment, I discussed you know, if somebody

795
00:32:47,280 --> 00:32:49,280
Speaker 1: tells you should be maxing out your four own K

796
00:32:49,560 --> 00:32:51,720
Speaker 1: and why I think that's awful advice. And I touched

797
00:32:51,720 --> 00:32:53,880
Speaker 1: on this in the last show. But essentially a four

798
00:32:53,960 --> 00:32:56,240
Speaker 1: one K guys, there's nothing more than a savings account

799
00:32:56,280 --> 00:32:59,120
Speaker 1: if you will, that is tax sheltered, you know, meaning

800
00:32:59,160 --> 00:33:01,400
Speaker 1: no matter how much money you make in that account,

801
00:33:01,480 --> 00:33:03,560
Speaker 1: they can't tax you until they take it out. But

802
00:33:04,240 --> 00:33:07,280
Speaker 1: this big conception misconception, if you will, is when you

803
00:33:07,320 --> 00:33:09,800
Speaker 1: work for any company, be it a fancy company like

804
00:33:09,840 --> 00:33:12,720
Speaker 1: a Boeing or North Krubman, or a Target or Little Caesars,

805
00:33:12,720 --> 00:33:15,520
Speaker 1: doesn't matter. Most companies will offer a four to one

806
00:33:15,600 --> 00:33:19,360
Speaker 1: K plan. But there's a misconception that by investing in

807
00:33:19,400 --> 00:33:21,760
Speaker 1: that you have some kind of a guaranteed retirement. All

808
00:33:21,800 --> 00:33:24,400
Speaker 1: it is is a basket of garbage mutual funds guys

809
00:33:24,760 --> 00:33:28,240
Speaker 1: that are typically heavily laid in with fees. There's restrictions

810
00:33:28,280 --> 00:33:30,280
Speaker 1: on you taking that money out. But more importantly, you

811
00:33:30,320 --> 00:33:32,360
Speaker 1: only have the option of maybe thirteen to fifteen different

812
00:33:32,480 --> 00:33:35,080
Speaker 1: mutual funds. So the first thing I tell people is

813
00:33:35,160 --> 00:33:37,040
Speaker 1: if you have a four to one K, you should

814
00:33:37,080 --> 00:33:39,240
Speaker 1: only put money in what your company is matching it.

815
00:33:39,280 --> 00:33:41,000
Speaker 1: So if they're matching up to two percent, only put

816
00:33:41,080 --> 00:33:43,480
Speaker 1: in two percent. Any other penny you're putting into a

817
00:33:43,480 --> 00:33:46,240
Speaker 1: four one K is the worst, And I challenge anybody

818
00:33:46,480 --> 00:33:48,520
Speaker 1: to debate me on that. There's the worst investment you

819
00:33:48,520 --> 00:33:50,760
Speaker 1: can make. Yeah, trillions of dollars are in freaking four

820
00:33:50,840 --> 00:33:53,440
Speaker 1: one ks right now. Let's say you leave that company.

821
00:33:53,480 --> 00:33:55,880
Speaker 1: You now have cash in a four one K, that

822
00:33:55,920 --> 00:33:57,920
Speaker 1: four to one K you need to roll into what's

823
00:33:57,920 --> 00:34:00,880
Speaker 1: called If it's over twenty five thousand dollars, you should

824
00:34:00,920 --> 00:34:02,240
Speaker 1: roll it into a self directed IRA.

825
00:34:02,560 --> 00:34:03,880
Speaker 3: If it's less than that, you should roll.

826
00:34:03,800 --> 00:34:06,200
Speaker 1: It into like an e Trader Meritrade and just buy

827
00:34:06,200 --> 00:34:08,040
Speaker 1: a couple of blue chips or brands that you know,

828
00:34:08,120 --> 00:34:09,960
Speaker 1: like Amazon, Google, Tesla, whatever.

829
00:34:10,239 --> 00:34:10,960
Speaker 3: Just sit on it.

830
00:34:11,080 --> 00:34:13,759
Speaker 1: But once you have a meaningful on account amount in

831
00:34:13,960 --> 00:34:16,800
Speaker 1: a four one K and it's over twenty five thousand,

832
00:34:17,280 --> 00:34:18,960
Speaker 1: roll it into an IRA, and then we can show

833
00:34:18,960 --> 00:34:21,000
Speaker 1: you how to actually roll it into a self directed iray.

834
00:34:21,000 --> 00:34:23,000
Speaker 1: Now you can actually buy a freaking real estate inside

835
00:34:23,000 --> 00:34:24,520
Speaker 1: of that, So instead of a four one k oning

836
00:34:24,520 --> 00:34:27,480
Speaker 1: dokship mutual funds, you don't know, own real estate inside

837
00:34:27,480 --> 00:34:29,839
Speaker 1: of that. And that's the one tip that I can

838
00:34:29,880 --> 00:34:30,239
Speaker 1: add to you.

839
00:34:30,440 --> 00:34:30,600
Speaker 3: This.

840
00:34:30,920 --> 00:34:33,319
Speaker 1: The second thing, and I do have a question for you,

841
00:34:33,440 --> 00:34:35,880
Speaker 1: is back then, I remember you can use up to

842
00:34:35,920 --> 00:34:40,000
Speaker 1: ten thousand dollars of your IRA tax free as a

843
00:34:40,040 --> 00:34:42,839
Speaker 1: down payment for a primary residence. Do you know if

844
00:34:42,840 --> 00:34:44,719
Speaker 1: that could qualify for these programs as well?

845
00:34:44,800 --> 00:34:46,719
Speaker 5: Or is that kind of you could always pull out

846
00:34:47,200 --> 00:34:49,440
Speaker 5: what the IRA allows you to pull out.

847
00:34:49,520 --> 00:34:52,080
Speaker 3: Uh huh, that's it. Then it's just gosh.

848
00:34:52,160 --> 00:34:53,920
Speaker 1: So if you do have money in an IRA before,

849
00:34:53,960 --> 00:34:55,960
Speaker 1: you know, an example that I just said, where you

850
00:34:56,000 --> 00:34:58,960
Speaker 1: have less than twenty five thousand, the first ten thousand

851
00:34:59,040 --> 00:35:00,520
Speaker 1: you can take out as long as you're using it

852
00:35:00,560 --> 00:35:02,279
Speaker 1: as a down payment on the house. There's your first

853
00:35:02,320 --> 00:35:05,200
Speaker 1: hand grand right there. Right, So I mentioned there's two

854
00:35:05,239 --> 00:35:07,239
Speaker 1: categories of people at home right now the person who's

855
00:35:07,280 --> 00:35:09,480
Speaker 1: got about that one hundred k. Now, let's say you're

856
00:35:09,560 --> 00:35:11,200
Speaker 1: like some of my engineers here in some of the

857
00:35:11,200 --> 00:35:13,920
Speaker 1: studio that are interning here, they're just getting to the game,

858
00:35:13,920 --> 00:35:16,600
Speaker 1: they're making their first bucks. What can they do to

859
00:35:16,640 --> 00:35:18,279
Speaker 1: prepare because I know you and I started with no

860
00:35:18,360 --> 00:35:18,759
Speaker 1: money down.

861
00:35:18,880 --> 00:35:20,520
Speaker 3: I mean that's how we got in the game. But

862
00:35:20,600 --> 00:35:21,960
Speaker 3: what can they do and what are the plan?

863
00:35:22,120 --> 00:35:24,239
Speaker 1: What are the steps they can take to kind of

864
00:35:24,280 --> 00:35:26,800
Speaker 1: follow on the footsteps and eventually own those doors?

865
00:35:27,160 --> 00:35:28,279
Speaker 3: What should they be focused on?

866
00:35:29,200 --> 00:35:30,880
Speaker 5: So I would say, have a game plan of how

867
00:35:30,960 --> 00:35:32,960
Speaker 5: much you're going to be saving a month, right because

868
00:35:33,239 --> 00:35:36,560
Speaker 5: what comes down to is down payment and closing costs. Now,

869
00:35:36,600 --> 00:35:40,360
Speaker 5: your realtor could always go back and you know, requests help.

870
00:35:40,600 --> 00:35:44,200
Speaker 5: Right now, in this type of environment in our industry,

871
00:35:44,400 --> 00:35:48,360
Speaker 5: they could go back and ask for closing costs and whatnot.

872
00:35:48,800 --> 00:35:51,600
Speaker 5: But typically when the market's hot and everything like that,

873
00:35:51,600 --> 00:35:54,960
Speaker 5: that's pretty much not seen. But I would say having

874
00:35:55,440 --> 00:35:58,520
Speaker 5: the game plan of how what you're looking for, what

875
00:35:58,600 --> 00:36:00,800
Speaker 5: area you're looking for, so you could start putting a

876
00:36:00,840 --> 00:36:04,160
Speaker 5: game plan as far as saving the down payment, that's

877
00:36:04,200 --> 00:36:07,200
Speaker 5: probably the most important part. Right. We could always go

878
00:36:07,320 --> 00:36:10,640
Speaker 5: back and leverage a gift or whatnot for other avenues

879
00:36:10,640 --> 00:36:14,960
Speaker 5: of the closing costs, and but I think that's the

880
00:36:15,000 --> 00:36:18,279
Speaker 5: most important part. The thing is that what happens nowadays

881
00:36:18,440 --> 00:36:20,759
Speaker 5: is everybody wants to you know, you get a job,

882
00:36:20,800 --> 00:36:22,239
Speaker 5: you start making a little bit of money. And don't

883
00:36:22,239 --> 00:36:24,359
Speaker 5: get me wrong, I went through this shit too, Like

884
00:36:24,480 --> 00:36:26,320
Speaker 5: you start wanting you want a ball, you want to

885
00:36:26,360 --> 00:36:28,600
Speaker 5: be flashy, you want to let people know I'm making

886
00:36:28,640 --> 00:36:31,360
Speaker 5: some money. Well, I fucking wasted way too much money

887
00:36:31,360 --> 00:36:34,480
Speaker 5: doing that shit and paying fucking everybody's bar tab. Yeah,

888
00:36:34,680 --> 00:36:38,960
Speaker 5: then putting money away and investing it and like in property,

889
00:36:39,200 --> 00:36:42,319
Speaker 5: which which is what I should have done, right, I

890
00:36:42,440 --> 00:36:44,960
Speaker 5: learned that the hard way. So what I do now

891
00:36:45,160 --> 00:36:48,640
Speaker 5: is that when I sit with younger individuals or anybody

892
00:36:48,640 --> 00:36:51,520
Speaker 5: that's just starting to look like I literally I'm really straightforward.

893
00:36:51,880 --> 00:36:55,520
Speaker 5: I'm like, I don't I don't hide anything in that aspect,

894
00:36:55,600 --> 00:36:57,840
Speaker 5: or I tell them I've I've ruined my credit in

895
00:36:57,840 --> 00:37:00,440
Speaker 5: the past. Everybody thinks, you know, Latinos always told your

896
00:37:00,440 --> 00:37:04,080
Speaker 5: credit is the most important thing in the world, right, well,

897
00:37:04,120 --> 00:37:07,360
Speaker 5: then you could rebuild that. Like your parents make you

898
00:37:07,400 --> 00:37:09,799
Speaker 5: feel like, oh, you can't do that, well, yeah, you can't. Right,

899
00:37:09,840 --> 00:37:15,560
Speaker 5: there's certain things that we've been taught and told that bullshit.

900
00:37:15,800 --> 00:37:17,640
Speaker 5: And I went through that too with my parents being

901
00:37:17,640 --> 00:37:20,520
Speaker 5: first generation here. So the biggest thing was I was

902
00:37:20,560 --> 00:37:22,399
Speaker 5: out trying to be flashing instead of saving money.

903
00:37:22,480 --> 00:37:23,799
Speaker 3: Yeah, and you're going to.

904
00:37:23,840 --> 00:37:25,960
Speaker 5: Have people tell you, oh, well you just don't want

905
00:37:25,960 --> 00:37:27,440
Speaker 5: to hang out, you don't want to do this, you

906
00:37:27,480 --> 00:37:29,000
Speaker 5: know what, Screw them at the end of the day,

907
00:37:29,000 --> 00:37:31,200
Speaker 5: because you're trying to set yourself up right.

908
00:37:31,520 --> 00:37:32,400
Speaker 3: So I think that's the.

909
00:37:32,560 --> 00:37:34,920
Speaker 5: Biggest thing is knowing what you want to do, setting

910
00:37:35,000 --> 00:37:40,600
Speaker 5: the forefront and the laying out the road on how

911
00:37:40,640 --> 00:37:42,440
Speaker 5: you're going to get there and sticking to it.

912
00:37:42,680 --> 00:37:44,799
Speaker 1: And you know it sounds cheesy, guys, but I and

913
00:37:44,840 --> 00:37:47,000
Speaker 1: I was freaking awful at doing this. But then I

914
00:37:47,040 --> 00:37:49,279
Speaker 1: noticed that the people that were actually becoming way more

915
00:37:49,480 --> 00:37:52,239
Speaker 1: are compressing time and moving a lot faster than I

916
00:37:52,280 --> 00:37:54,880
Speaker 1: was in their accumulation of wealth. We're doing this, and

917
00:37:54,920 --> 00:37:57,000
Speaker 1: it's exactly what he's saying. By taking a step further

918
00:37:57,280 --> 00:37:59,400
Speaker 1: is having a written plan.

919
00:37:59,640 --> 00:37:59,799
Speaker 3: Right.

920
00:38:00,080 --> 00:38:01,960
Speaker 1: What he's saying is, you know, know how much you

921
00:38:01,960 --> 00:38:03,840
Speaker 1: can save if you're making three grand a month and

922
00:38:03,840 --> 00:38:06,200
Speaker 1: you can afford to save three hundred dollars exactly ten

923
00:38:06,239 --> 00:38:09,080
Speaker 1: percent every month, just make it automated and have a go,

924
00:38:09,160 --> 00:38:11,640
Speaker 1: but have it written down and define it out. Be like,

925
00:38:11,640 --> 00:38:13,480
Speaker 1: all right, this is going to be twelve months. For

926
00:38:13,600 --> 00:38:15,839
Speaker 1: twelve months, I'm gonna be put inside three hundred dollars

927
00:38:15,880 --> 00:38:17,880
Speaker 1: a month. Here's what I'm going to have at six months,

928
00:38:17,880 --> 00:38:20,239
Speaker 1: at three months, at nine months, at a year. And

929
00:38:20,280 --> 00:38:22,640
Speaker 1: then you have a metrics And there's something weird about

930
00:38:22,640 --> 00:38:25,040
Speaker 1: the brain. I'd love to hear somebody that knows way

931
00:38:25,040 --> 00:38:27,560
Speaker 1: more about the chemistry of it. But something happens when

932
00:38:27,600 --> 00:38:29,800
Speaker 1: you put pen to paper and you put a vision

933
00:38:29,840 --> 00:38:32,160
Speaker 1: on that paper and you're revisiting that on a morning,

934
00:38:32,320 --> 00:38:33,280
Speaker 1: whether it's meditating.

935
00:38:33,280 --> 00:38:36,040
Speaker 3: Would you agree to that absolutely one hundred percent. It's

936
00:38:36,120 --> 00:38:36,600
Speaker 3: kind of crazy.

937
00:38:36,600 --> 00:38:38,840
Speaker 5: Everybody likes to use apps, everybody likes to you know,

938
00:38:38,880 --> 00:38:42,359
Speaker 5: put notes on their phone. Yeah, I'm always with the notebook. Yeah,

939
00:38:42,360 --> 00:38:44,920
Speaker 5: Like I'm really old tom about that. I sit down

940
00:38:44,960 --> 00:38:46,600
Speaker 5: with clients and I bust out a notebook and I'm

941
00:38:46,600 --> 00:38:49,040
Speaker 5: writing down and they like look at me like that's weird, dude.

942
00:38:49,040 --> 00:38:52,359
Speaker 1: I cannot tell you how much I feel the same way,

943
00:38:52,360 --> 00:38:54,239
Speaker 1: and it's it's weird, like even to this day, like

944
00:38:54,280 --> 00:38:55,880
Speaker 1: I feel like I need to dictate if somebody is

945
00:38:55,880 --> 00:38:58,480
Speaker 1: going to type long but just scratching down in that

946
00:38:58,520 --> 00:39:00,640
Speaker 1: little notebook and flipping back that. So I don't know

947
00:39:00,640 --> 00:39:02,880
Speaker 1: what it is about that, but it absolutely worked. Faban,

948
00:39:02,960 --> 00:39:04,920
Speaker 1: what what's the best way somebody can get ahold of you?

949
00:39:04,960 --> 00:39:06,800
Speaker 1: If they have a direct question or if they want help.

950
00:39:07,000 --> 00:39:09,640
Speaker 5: You can always reach me uh by email which is

951
00:39:09,680 --> 00:39:14,480
Speaker 5: Fabian dot Reball at model mortgage dot com. Models m

952
00:39:14,520 --> 00:39:17,560
Speaker 5: O T T O Mortgage m O R T G

953
00:39:17,880 --> 00:39:20,960
Speaker 5: A g E dot com you can find me and

954
00:39:21,920 --> 00:39:25,640
Speaker 5: Fabian uh f A b I A N dot r

955
00:39:25,760 --> 00:39:28,720
Speaker 5: U B A L. You can find me on Instagram

956
00:39:28,719 --> 00:39:30,600
Speaker 5: at Fabian dot reball. You can find me on the

957
00:39:30,600 --> 00:39:34,680
Speaker 5: Facebook at Fabian Reball. Basically, d m me send me

958
00:39:34,680 --> 00:39:38,840
Speaker 5: a message like we're talking about I'm all about education

959
00:39:38,960 --> 00:39:42,000
Speaker 5: and everything in that aspect. So that being said, you know,

960
00:39:42,239 --> 00:39:44,520
Speaker 5: sitting down and talking to someone and helping them put

961
00:39:44,560 --> 00:39:47,120
Speaker 5: a game plan together, Like, there's no we don't charge

962
00:39:47,160 --> 00:39:48,120
Speaker 5: anything in that aspect.

963
00:39:48,239 --> 00:39:50,480
Speaker 3: Like we have to earn people's business. That's the other

964
00:39:50,520 --> 00:39:50,920
Speaker 3: thing in.

965
00:39:50,880 --> 00:39:53,520
Speaker 5: Our industry that a lot of people expect is you know,

966
00:39:54,520 --> 00:39:56,719
Speaker 5: if you speak to me, you have to go with me.

967
00:39:56,880 --> 00:39:58,880
Speaker 5: I don't believe that, Like, I'm a big believer that

968
00:39:58,880 --> 00:40:00,520
Speaker 5: we got to show you our work. We got to

969
00:40:00,520 --> 00:40:03,120
Speaker 5: earn our business, show you that what we say we're

970
00:40:03,120 --> 00:40:04,200
Speaker 5: going to be able to do for you, we do

971
00:40:04,280 --> 00:40:08,240
Speaker 5: for you. I'll put my money against anybody with my team,

972
00:40:08,880 --> 00:40:09,400
Speaker 5: we think.

973
00:40:09,239 --> 00:40:09,960
Speaker 3: Outside the box.

974
00:40:10,040 --> 00:40:13,640
Speaker 5: We don't only work with first time buyers and newbies

975
00:40:13,680 --> 00:40:15,600
Speaker 5: in the sense of you know, looking to do stuff.

976
00:40:15,880 --> 00:40:17,799
Speaker 5: I mean, we have a lot of investors we work with.

977
00:40:18,080 --> 00:40:23,760
Speaker 5: You know, you mentioned something about earlier about judging someone

978
00:40:23,800 --> 00:40:25,759
Speaker 5: the first time you see them, Like if you meet

979
00:40:25,760 --> 00:40:28,360
Speaker 5: one of my investors, like you would meet him and

980
00:40:28,360 --> 00:40:31,279
Speaker 5: you'd be like, nah, that guy can't be worth much.

981
00:40:31,880 --> 00:40:34,000
Speaker 5: Guy owns like twenty million dollars worth of property out

982
00:40:34,000 --> 00:40:36,600
Speaker 5: in LA and he looks like like, literally, I kid

983
00:40:36,680 --> 00:40:40,080
Speaker 5: you not he looks he's an old Hispanic gentleman that

984
00:40:40,560 --> 00:40:42,360
Speaker 5: you know, you you think he was a gardener.

985
00:40:42,520 --> 00:40:44,359
Speaker 3: You don't want to if you guys want to check

986
00:40:44,400 --> 00:40:44,920
Speaker 3: out a book.

987
00:40:45,000 --> 00:40:47,120
Speaker 1: One of the books that made me change my mind

988
00:40:47,120 --> 00:40:49,959
Speaker 1: frame on that was The Millionaire next Door. And after

989
00:40:50,000 --> 00:40:52,120
Speaker 1: reading that, I realized how many people I do pass

990
00:40:52,200 --> 00:40:55,280
Speaker 1: on a given basis and you know, uh seeing seeing

991
00:40:55,280 --> 00:40:56,840
Speaker 1: them in a beat up car, and that dude's probably

992
00:40:56,840 --> 00:40:59,239
Speaker 1: got like eight figure bank account. Absolutely, I mean you

993
00:40:59,280 --> 00:41:00,799
Speaker 1: probably see that more than I do. And you're right,

994
00:41:00,920 --> 00:41:03,920
Speaker 1: you know, going through the financial services game, sometimes it

995
00:41:03,960 --> 00:41:06,160
Speaker 1: was the person who was just the crummiest looking out

996
00:41:06,200 --> 00:41:07,160
Speaker 1: fast they'd come in and.

997
00:41:07,120 --> 00:41:09,320
Speaker 3: That dude had a bigger bankroll than everybody come by in.

998
00:41:09,400 --> 00:41:10,320
Speaker 3: And they're the best lines.

999
00:41:11,480 --> 00:41:14,080
Speaker 5: They're the most loyal, best clients there are, you know.

1000
00:41:15,239 --> 00:41:16,759
Speaker 5: But like I said, you can reach me on that.

1001
00:41:17,480 --> 00:41:19,799
Speaker 5: My team will help you guys in any We'll set

1002
00:41:19,800 --> 00:41:22,600
Speaker 5: everything up. That's cool, And like you said, let's see

1003
00:41:22,640 --> 00:41:25,240
Speaker 5: what we could do also about putting some some dates

1004
00:41:25,280 --> 00:41:26,440
Speaker 5: together as far as.

1005
00:41:27,000 --> 00:41:28,600
Speaker 1: Yeah, you know, what I'd love to do is two things.

1006
00:41:28,640 --> 00:41:31,319
Speaker 1: Because obviously we have a nationwide audience, but the good

1007
00:41:31,360 --> 00:41:33,040
Speaker 1: majority of them are here in southern California. So I

1008
00:41:33,040 --> 00:41:34,200
Speaker 1: think what Fabe and I would like to do, and

1009
00:41:34,200 --> 00:41:37,120
Speaker 1: again this is free of charge. I think after MJ

1010
00:41:37,239 --> 00:41:39,879
Speaker 1: Biscon and some of that hooplod dies that we got

1011
00:41:39,880 --> 00:41:42,160
Speaker 1: going on, I think I'd like to set up something

1012
00:41:42,160 --> 00:41:44,560
Speaker 1: where we just invite some listeners over to your office

1013
00:41:44,640 --> 00:41:46,600
Speaker 1: or even here in the studio. We give you, we

1014
00:41:46,640 --> 00:41:48,560
Speaker 1: break you down here for your first time home buyers

1015
00:41:48,600 --> 00:41:50,799
Speaker 1: and investors that want to just get in the game

1016
00:41:50,920 --> 00:41:53,520
Speaker 1: want the plug on, not just the investment side of it,

1017
00:41:53,680 --> 00:41:55,920
Speaker 1: the financing side of it, the deal flow, because you

1018
00:41:55,920 --> 00:41:56,960
Speaker 1: guys assist.

1019
00:41:56,600 --> 00:41:57,239
Speaker 3: With all of that.

1020
00:41:57,400 --> 00:41:59,239
Speaker 1: You know, somebody may say, where can I find a

1021
00:41:59,239 --> 00:42:01,600
Speaker 1: perfect four play? So I think just with the networks

1022
00:42:01,640 --> 00:42:03,759
Speaker 1: that we have, that's something that we can provide. So

1023
00:42:03,760 --> 00:42:05,399
Speaker 1: that'll be here in Long Beach. The other thing I'd

1024
00:42:05,440 --> 00:42:08,680
Speaker 1: like to do is for people that obviously not local

1025
00:42:08,719 --> 00:42:10,680
Speaker 1: to Southern California, because you guys can lend in all

1026
00:42:10,680 --> 00:42:13,200
Speaker 1: fifty states and there's obviously real estate everywhere, so we

1027
00:42:13,239 --> 00:42:14,879
Speaker 1: can do a live zoom as well.

1028
00:42:14,880 --> 00:42:15,520
Speaker 3: And again these.

1029
00:42:15,360 --> 00:42:16,960
Speaker 1: Would be free. This would just be a give back

1030
00:42:16,960 --> 00:42:19,560
Speaker 1: to the audience. If you guys are interested in that,

1031
00:42:19,800 --> 00:42:21,440
Speaker 1: reach out to me. And my dms just put in

1032
00:42:21,480 --> 00:42:23,320
Speaker 1: the word real estate. I'll have our team look that

1033
00:42:23,440 --> 00:42:25,319
Speaker 1: up get back to you with those dates. We don't

1034
00:42:25,360 --> 00:42:27,640
Speaker 1: have them established it, but we're probably thinking towards the

1035
00:42:27,680 --> 00:42:29,799
Speaker 1: end of the year, maybe even early next year.

1036
00:42:30,400 --> 00:42:32,040
Speaker 3: Anything else you want to add before we leave, brother,

1037
00:42:32,320 --> 00:42:34,560
Speaker 3: not much, man, I appreciate it. Thank you very much.

1038
00:42:34,760 --> 00:42:37,520
Speaker 1: Shout out to shout out to Sammy Knight and Ashley

1039
00:42:37,560 --> 00:42:39,600
Speaker 1: as well. I know your whole crew there. There are

1040
00:42:39,640 --> 00:42:41,200
Speaker 1: people that I've always wanted to get to know more

1041
00:42:41,239 --> 00:42:43,080
Speaker 1: and they're unfortunately not here on the West Coast, but

1042
00:42:43,200 --> 00:42:45,920
Speaker 1: I can't wait to have them on the show and

1043
00:42:45,960 --> 00:42:46,960
Speaker 1: can't wait to have you back.

1044
00:42:46,960 --> 00:42:47,080
Speaker 4: Man.

1045
00:42:47,120 --> 00:42:48,520
Speaker 1: I have a feeling that's going to be a long,

1046
00:42:48,760 --> 00:42:51,760
Speaker 1: productive relationship that we have. And before I leave, guys,

1047
00:42:51,760 --> 00:42:53,520
Speaker 1: you know, this may seem easy in front of the camera,

1048
00:42:53,600 --> 00:42:55,600
Speaker 1: but there's a whole army of people to make this happen.

1049
00:42:55,719 --> 00:42:57,279
Speaker 1: I want to give a special shout out and thank

1050
00:42:57,320 --> 00:42:59,960
Speaker 1: you to, of course Blue and Joe Grandi, but the intern,

1051
00:43:00,160 --> 00:43:03,120
Speaker 1: the staff here, Adrian Emir, the two, alex Is Mondo, Madison,

1052
00:43:03,160 --> 00:43:06,800
Speaker 1: Teddy the show Dog, Daniel O'Connor, Elbert Kinky, Kim Baxter,

1053
00:43:07,400 --> 00:43:11,120
Speaker 1: Beach Barcelar, Ali Muffins Sunday, Cassie Ruby, Goldie Brother, Pitt,

1054
00:43:11,160 --> 00:43:14,879
Speaker 1: Mark Carnes, Chris Frankino, Jennifer Erica, Elvis you guys, thank

1055
00:43:14,920 --> 00:43:16,560
Speaker 1: you so much. Means a lot to me for listening

1056
00:43:16,560 --> 00:43:18,799
Speaker 1: to Financial Fridays here on Cannabis Talk one on one Booth,

1057
00:43:18,840 --> 00:43:21,360
Speaker 1: Flu and Joe Grande, the world's number one source for

1058
00:43:21,400 --> 00:43:24,319
Speaker 1: everything cannabis. I'm Tony Kay, You're Insider Investor and you

1059
00:43:24,320 --> 00:43:26,960
Speaker 1: guys can always find me on Instagram at the Insider Investor.

1060
00:43:27,120 --> 00:43:29,120
Speaker 1: I'm going to see you guys next Friday. Remember keep

1061
00:43:29,160 --> 00:43:31,440
Speaker 1: that wallet tight, your mind right. I look forward to

1062
00:43:31,440 --> 00:43:32,880
Speaker 1: seeing you guys on the inside.

1063
00:43:32,920 --> 00:43:33,399
Speaker 3: See you soon.

1064
00:43:33,640 --> 00:43:36,520
Speaker 2: Thank you for listening to Financial Fridays with the Insider

1065
00:43:36,560 --> 00:43:40,200
Speaker 2: Investor Tony Ka on Cannabis Talk one on one, the

1066
00:43:40,320 --> 00:43:43,040
Speaker 2: world's number one source for everything cannabis,