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Speaker 2: All right, guys, So a lot of people asks us

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Speaker 3: Let's do it. My graduates from my school being force

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Speaker 3: backdrop drop like drop bag, drop drop. All right, so

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Speaker 3: we're going to go into the nitty gritty.

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Speaker 4: But before we start, you have to acknowledge this because

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Speaker 4: we don't want this to go with people said, so, okay,

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Speaker 4: twenty twelve, which was seven years ago, so.

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Speaker 3: You borrowed thirty thousand, yes, right to your.

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Speaker 4: Second investment property and then from there you kind.

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Speaker 3: Of just learned the ropes and you're at where you're

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Speaker 3: at now. So in the words of Kendrick Gloogaugh, he

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Speaker 3: took thirty thousand in freak to twenty five million seven years.

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Speaker 5: So yeah, it's I'll say twenty sixteen though, that's that's

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Speaker 5: kind of like what the magic happened though, Okay, it's

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Speaker 5: kind of like that's when like I was consistently able

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Speaker 5: to purchase a property, fix it up, rents it out,

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Speaker 5: and then once it's already rents it go to a

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Speaker 5: lender to catch it out.

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Speaker 3: All right? So can we all right? Son? We so

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Speaker 3: can we get it? To look at the chart though,

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Speaker 3: you noticed how it's kind of like I was like, oh,

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Speaker 3: it's like, you know, get a three, it's like one one, yeah, but.

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Speaker 6: It's like twenty sixteen. That's kind of like when it

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Speaker 6: really like made that a h. So match is twenty fifteen.

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Speaker 6: I'm twenty fifteen, So can we do? That's when I,

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Speaker 6: you know, the first cashown. Can we go to twenty fifteen?

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Speaker 6: When when you start to really take off?

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Speaker 4: And kind of just because that's like your blueprint right

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Speaker 4: as far as yeah, can you just break that.

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Speaker 3: Down as far as the flips, how you look at it?

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Speaker 3: All right? I can you just tell exactly like what

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Speaker 3: you do?

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Speaker 6: So what I do is like when I look at

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Speaker 6: a house is like try not to look at a house.

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Speaker 3: I try to look at numbers. So it's in the.

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Speaker 6: Formula is basically if I keep try like of my

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Speaker 6: portfolio and I ask myself like, all right, is this

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Speaker 6: going to increase my network?

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Speaker 3: And then the other question is is this going to

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Speaker 3: increase my cash flow?

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Speaker 5: And if the answer is yes, and it's kind of

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Speaker 5: like all right, the thumbs up, you know, and I

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Speaker 5: could get this.

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Speaker 6: But now there's the other question now is like how

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Speaker 6: fast and can I get my money back on this deal?

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Speaker 6: And then there's like if all three are yes, then

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Speaker 6: that's when I jump on the deal. Okay, yeah, this

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Speaker 6: is a deal for me. So it's like every property

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Speaker 6: that I see, I see with that intention is like

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Speaker 6: I think, like the most important thing you need to

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Speaker 6: know is how much can a house a praise for?

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Speaker 3: And then it's like the key component here is.

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Speaker 6: A praise for which took me a while to understand

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Speaker 6: because before I would look at a house and I

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Speaker 6: was just like such an honest guy, and I would

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Speaker 6: look at it, I would telling myself, like, you know

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Speaker 6: what that ask I could sell that for two fifty,

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Speaker 6: so it's worth two fifty. But going back now to

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Speaker 6: like the inner City, and it's kind of like why

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Speaker 6: I stuck to Patterson because I felt like I knew Patterson,

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Speaker 6: like the pomb with my hand and not sure if

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Speaker 6: it's like if it's you know, if it's the same

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Speaker 6: for every inner city.

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Speaker 3: But let's lay Patterson, get you get a block. This

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Speaker 3: corner right here is.

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Speaker 6: Like where all the hustlers are at, and it's a

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Speaker 6: lot of crime basically, right, But this corner right here

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Speaker 6: was just the same block, super quiet.

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Speaker 3: It's cool. You could, you know, you could walk by.

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Speaker 6: Nobody's gonna, you know, try to hustle you for you know,

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Speaker 6: to buy any any drugs or anything like that.

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Speaker 3: Yeah, but now they're on the same exact block.

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Speaker 6: So now you picture somebody coming from out of town,

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Speaker 6: like an appraisal or anyone, and now they see this

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Speaker 6: property over here. But now when they look at comparables,

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Speaker 6: they're looking at the whole neighborhood and go to look

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Speaker 6: for the meeting area. So it's like if this property record,

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Speaker 6: you know right here, basically let's say this one is

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Speaker 6: cells for two hundred, but you know, let's say this

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Speaker 6: one sells for for for two fifty. Let's just say, right,

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Speaker 6: but now if you're buying this one and you're buying

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Speaker 6: it through a short cell, it's gonna be a foreclosure.

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Speaker 6: More than likely they're gonna use this one here as

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Speaker 6: a comparable. So now this brings down the value of this,

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Speaker 6: but this one is worth more, and you know it's

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Speaker 6: worth more because you know the area better. So and

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Speaker 6: then going back to the other thing about knowing about

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Speaker 6: you know, appraisal one values, it's you know, that's kind

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Speaker 6: of where it's at because it's like you know that

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Speaker 6: this one's gonna suffer less and this one's gonna sell

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Speaker 6: for more. But when you put those two paper, depending

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Speaker 6: which way it goes, remember as I told you earl

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Speaker 6: Ago is like appraisal is not a science, is an art.

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Speaker 6: So depending on the artists, depending which way they want

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Speaker 6: to go, that value could come in at two hundred,

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Speaker 6: can come.

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Speaker 3: In at two fifty.

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Speaker 6: So I try to look for the house it's worth

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Speaker 6: two fifty that I know the value is going to

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Speaker 6: come in at two hundred.

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Speaker 3: It's it's kind of like now off the bat.

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Speaker 6: As soon as I buy the property, already know I

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Speaker 6: have fifty thousand inequity. The other part of it too,

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Speaker 6: which is why I always try to look for properties

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Speaker 6: that need renovation, because most people do not want to

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Speaker 6: deal with renovations.

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Speaker 3: Most people want to just grab the keys, go inside

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Speaker 3: the house. And they're good to go. So when you

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Speaker 3: get a property and you're renovating, you adding value to it.

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Speaker 6: So now let's just say this scenario, right, you ended

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Speaker 6: up picking this house for two hundred, but you know

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Speaker 6: it's ready off the bat, it's already worth two fifty.

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Speaker 6: But now you let's say you throw twenty five into it.

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Speaker 6: Now it's not two seventy five. Now it's three hundred.

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Speaker 6: So you got it more value to it.

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Speaker 7: So when you're doing that right, when you're about to rentedy, right,

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Speaker 7: I'm assuming on your first property you didn't.

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Speaker 3: Have a team or did you go in right?

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Speaker 7: So what was the process of selecting a team of contractors,

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Speaker 7: like honest people out of right so that you don't

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Speaker 7: get ripped off? Or was it like you know what,

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Speaker 7: I'm gonna learn the craft and do it myself, or

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Speaker 7: what was the process in creating that.

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Speaker 6: Well first properties, let's just say the second property that

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Speaker 6: I purchased, right, that one, I did not do a

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Speaker 6: gover renovation. I just went in through a couple, you know,

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Speaker 6: some line and the floorings, painting, the walls, patched up

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Speaker 6: a few holes.

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Speaker 3: I think I did like one bathroom.

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Speaker 6: Had I purchased the house today that probably would have

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Speaker 6: been a complete gut renovation.

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Speaker 3: So you have to do you know, where you can

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Speaker 3: handle what you know.

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Speaker 6: So when you start off, you know, advice everybody, just

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Speaker 6: start off, you know, with light renovations and kind of

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Speaker 6: like work your way up. The way it works is

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Speaker 6: basically you get yourself, you know, the one handy guy,

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Speaker 6: which once again, this is why it works out with you.

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Speaker 6: If you're able to buy in your neighborhood, you can

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Speaker 6: make a few phone calls ady, you know, like, oh yeah,

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Speaker 6: my cousin has a cousin who is pretty handy.

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Speaker 3: He can help you out. So you start off with

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Speaker 3: the handy guy.

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Speaker 6: But after a while, you know, when you start doing

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Speaker 6: more incense renovations, you know, they might refer you to

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Speaker 6: someone else. Or it's like, you know, just go to

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Speaker 6: own Deepot's like and you study, like home mebles worn

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Speaker 6: by most of my materials, and it's like and if

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Speaker 6: you go in there and you study, when you see

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Speaker 6: somebody walking out and all they have is just electrical

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Speaker 6: materials that you know, this guy very likely is an

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Speaker 6: electrician or at least knows how to do electrical work.

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Speaker 3: Same thing with a plumber and so forth.

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Speaker 6: So it's kind of like and you sort of build

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Speaker 6: up your team, but it's really a trial and never

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Speaker 6: unless you get some refrols you're gonna get. You know,

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Speaker 6: a lot of people act me a lot of times

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Speaker 6: it is like, have ever lost money in real estate?

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Speaker 6: And the answer is no, just because I've been able

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Speaker 6: to buy properties to have a lot of equity in them,

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Speaker 6: but that doesn't mean that it not lose money on

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Speaker 6: the deal. So it's like if I go in, I

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Speaker 6: get get a property I'm projecting and make let's say

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Speaker 6: fifty thousand, and I get this one contract and you know,

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Speaker 6: he messes up and I end up losing ten thousand

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Speaker 6: or time still make forty thousand.

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Speaker 3: You know, but I didn't really didn't like lose money.

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Speaker 3: But you know it's still agree Yeah, yeah, it's still agreeing.

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Speaker 6: You know, contractors is triggering with contractors is like it's

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Speaker 6: like that's why I call them contractors, because you're not

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Speaker 6: careful they will kind of So what I do now

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Speaker 6: to minimize the chances of somebody ripping me off is

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Speaker 6: basically I pay for all the materials, which.

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Speaker 3: Is pretty cool too, because it's like you start getting

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Speaker 3: your mouth so I pay for the materials.

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Speaker 6: I make what I call a draw schedule, which is

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Speaker 6: the same kind of schedule you have to give your

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Speaker 6: hard money lender.

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Speaker 3: When you get a loan from a lender. You can't

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Speaker 3: just tell the lender, oh, I need fifty thousands for renovation.

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Speaker 3: You gotta kind of like.

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Speaker 6: Map it out, like all right, I'm gonna need two

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Speaker 6: thousand take up the house. I'm gonna be this much

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Speaker 6: for this, and you kind of like do every step

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Speaker 6: of of you know what's required, you map it out.

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Speaker 6: When this is already mapped out, then you know you

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Speaker 6: start pulling like the money out all right.

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Speaker 4: So okay, so whole verse flips because you hear these

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Speaker 4: two kinds of trains of thoughts in realitate.

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Speaker 3: Right, some people only want to flip. Some people only

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Speaker 3: believe in buying and holding. Some people do both. You're

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Speaker 3: more on buying holding side, right, Yeah, more buying holding.

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Speaker 6: It's it's it's a little more complicated because it's like

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Speaker 6: when you buy and flip, it's pretty sure straightforward. You

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Speaker 6: buy a house, you renovate it, you fix it, and

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Speaker 6: you suddenly you make a profit. We're trying to hold it.

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Speaker 6: You know, it goes back to the open of appraisal.

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Speaker 6: Whatever it doesn't you know, it doesn't come through, and

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Speaker 6: the appraisal doesn't come in right, so you know you.

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Speaker 3: Kind of got to like really, you know, maneuver your

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Speaker 3: way around that.

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Speaker 6: But but it's if you buy a house as again,

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Speaker 6: you follow it like that phone to make sure you

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Speaker 6: follow the cash law. It's then about real estate to

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Speaker 6: always all numbers. So you kind of have all the

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Speaker 6: numbers in front of you. Basically, you already know how

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Speaker 6: much money you're going to collect the runt. You already

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Speaker 6: know how much you're paying for the property over time.

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Speaker 6: Once you already know this, you already know what you're

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Speaker 6: gonna spend the renovation, so you kind of already know

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Speaker 6: what the mortgage is going to be, what the rent

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Speaker 6: is going to be, what the profit is going to be.

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Speaker 6: And so when you see it's a really good profit,

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Speaker 6: you keep it and you know you want to let

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Speaker 6: it go.

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Speaker 3: You want to keep it.

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Speaker 4: So how do you learn that, like to say, okay,

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Speaker 4: all right, I understand that you want to buy a

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Speaker 4: home for cheat and fix it up. But the average

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Speaker 4: person they don't have any knowledge of like, okay, how

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Speaker 4: much this is actually going to cost to renovate, or

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Speaker 4: how do I know it's a good deal, Like you

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Speaker 4: know what I mean, Like, if you're just going in

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Speaker 4: with no team, just by yourself, how do you It's.

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Speaker 3: Very likely you're gonna be a first time on buyer.

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Speaker 6: So I'd recommend either go for a three family or

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Speaker 6: four family and light renovation. So it's like you know,

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Speaker 6: paining the walls, you know, may throw some lemon the flooring.

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Speaker 6: Make sure you know how much rent is coming in

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Speaker 6: on this property, and then also see how much you're

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Speaker 6: paying for it, and know what your mortgage is going

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Speaker 6: to be. So the difference that's going to be your

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Speaker 6: cash flow. As far as like what is the number?

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Speaker 6: It is kind of like for me personally, like for

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Speaker 6: for any property that I get, fifteen hundred is kind

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Speaker 6: of like my number fifteen hundred in rent.

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Speaker 3: The difference between the mortgage and the run.

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Speaker 6: So let's say if the mortgage is two thousand, I

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Speaker 6: needs to be coo in thirty five.

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Speaker 3: So the way I do that is basically.

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Speaker 6: Five hundred goals aside and that's for your vacancy is

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Speaker 6: your repairs, so things like it happened in the house

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Speaker 6: and then the other dolls.

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Speaker 3: It's kind of like your profit.

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Speaker 4: Okay, that's the minimum that you weren't that's yeah, hutle

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Speaker 4: thumb for me for my area.

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Speaker 6: That's kind of like, you know, if those are the numbers,

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Speaker 6: then it's a keeper and then and I go through.

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Speaker 3: I'll go through on the deal. If those are not

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Speaker 3: the numbers, and I just kind of like passed up

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Speaker 3: on the deal.

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Speaker 4: Do you have a minimum as far the value of

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Speaker 4: the home, like you want to get it for at

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Speaker 4: least fifty thousand under its market value or something like that.

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Speaker 6: Yeah, So going back to like the formula is basically

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Speaker 6: the value of the property. Then I look for what

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Speaker 6: can I catch this out for? Like, right now, I

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Speaker 6: have a lender who gives me seventy five percent months

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Speaker 6: of value, so I already know value. Multipply that by

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Speaker 6: the seventy five percent. Let's just say the number is

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Speaker 6: two hundred, so kind of I use two hundred as

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Speaker 6: my mark, right, and then I say, okay, now I

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Speaker 6: have the two hundred thousand, my hair, look at how

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Speaker 6: much you know I'm paying for the property. Let's just

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Speaker 6: say it's there's one hundred. That's one hundred spread. Now

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Speaker 6: I look at how much is going to cost me

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Speaker 6: to renovate. It's gonna cost me one hundred to renovate,

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Speaker 6: and then cash out is kind of two hundred. There's

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Speaker 6: two hundred basically, like there's no there's no money in

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Speaker 6: there basically, so it's kind of like there's one hundred.

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Speaker 6: Then I have to be like, let's say one fifth

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Speaker 6: or even one seventy five, so that once I'm done renovating,

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Speaker 6: I do the cash out, I'm actually able to get

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Speaker 6: my money back. Like the goal is not so much

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Speaker 6: to make a profit on the cash out, but just

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Speaker 6: to at least get your money back so you can

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Speaker 6: move on to the next one.

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Speaker 3: Because if you do it correctly, if let's say you have.

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Speaker 6: Thousand dollars to buy a property, you go out, you

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Speaker 6: buy a property, you renovate it, you rent it, and

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Speaker 6: then you cash it out. If you guys needs to

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Speaker 6: get back your thirty thousand, and it's like, let's say

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Speaker 6: it's from it will take you six months to do that.

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Speaker 6: So six months later, basically you got your thirty you know,

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Speaker 6: you got your thirty thousand.

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Speaker 3: Dollars back, and you do that again. So like it's

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Speaker 3: kind of like with.

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Speaker 6: That same money every six months you can buy a property,

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Speaker 6: or every three months, depending how.

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Speaker 3: Fast you move. And you're taking your money after some

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Speaker 3: people wild clear you're taking your money out. Be it

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Speaker 3: not home equity loans, right, you're taking your money out

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Speaker 3: to the hard money, like not just the hard money.

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Speaker 6: So key word is asset based lender, acid based lender.

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Speaker 3: Yes, it's income based lenders.

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Speaker 6: Will be like it Wells Fargo or your Bank of America,

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Speaker 6: you know, your local bank, they're the income based.

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Speaker 3: You know, you go to them, they.

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Speaker 6: Want to see the credit score, they want to you know,

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Speaker 6: they want to see that you have a really good

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Speaker 6: income taxes.

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Speaker 3: You know, they're actually making good money. Yourself. Me, all

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Speaker 3: of my money comes from real estate. So when I

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Speaker 3: go to a bank and you know, I.

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Speaker 6: Still try it out once in a long because they

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00:14:01,600 --> 00:14:03,080
Speaker 6: got a really good interest right now, always getting that

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Speaker 6: for the loans, because it's like all they see is like, oh,

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Speaker 6: they just see all these expenses. Everything's coming from real estate.

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Speaker 6: So for them it's like, oh my god, it's like

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Speaker 6: such a high risk.

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Speaker 3: You know, we can't we can't rap with them.

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Speaker 6: But when you go to these ascid based lender, they

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Speaker 6: don't see any of that. All they're seeing is like,

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Speaker 6: what is the house? Like, this is the house right now?

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Speaker 6: What how much you think is worth? It's worth this much?

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Speaker 4: All right?

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Speaker 3: This is how much? N Now there's how much I'm

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Speaker 3: collecting the rent. So it's like all right, cool, yeah,

348
00:14:24,200 --> 00:14:25,840
Speaker 3: we could give you the loan on that. So outside

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Speaker 3: of hard money lenders, who else is the asset based

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Speaker 3: slender acid based slender the one I used right now.

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Speaker 3: They're called Visio, So they're like they're like companies, Yeah, yeah,

352
00:14:34,760 --> 00:14:38,560
Speaker 3: the companies nation wide No, no, this is no.

353
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Speaker 6: They're nationwide legit bank companies, but they just work with investors.

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Speaker 6: What's the one that you use? Visual lengthing is the

355
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Speaker 6: one that I'm currently using right now. That's another thing too,

356
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Speaker 6: I man, you got to keep these guys in rotation

357
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Speaker 6: because it's like the other lender that I use before,

358
00:14:52,920 --> 00:14:54,600
Speaker 6: they will give me seventy percent. Now this one gives

359
00:14:54,680 --> 00:14:57,440
Speaker 6: seventy five percent. That five percent that's a huge difference.

360
00:14:57,480 --> 00:15:00,120
Speaker 6: You know. It's if you're talking about three hund two

361
00:15:00,120 --> 00:15:02,239
Speaker 6: thousand dollars the house that's fifteen thousand.

362
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Speaker 3: Dollars, what's the interest rate usually from that compared to

363
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Speaker 3: like a regular traditional ban the traditional bank. My choice

364
00:15:07,240 --> 00:15:09,080
Speaker 3: was it like five percent. These guys are choice like

365
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Speaker 3: a six and a half. Yeah, and this is a

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Speaker 3: five year arm sorry. You know after five years you

367
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Speaker 3: have to either sell a house and have to refive.

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Speaker 3: And we kind of spoke about camera, but we said harmony.

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Speaker 7: Anybody could be a hard money lender, right, either do

370
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Speaker 7: it individually or you can team up.

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Speaker 3: With a bunch of people exactly.

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Speaker 7: And I think one of the other things is that

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Speaker 7: the time frame, right, the timeframe when they want their

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Speaker 7: money back is obviously a lot different, right, This is

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Speaker 7: not a thirty year thing, right, they want their money

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Speaker 7: back then, Like what are some of the time frames?

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Speaker 6: Well, hard money lenders they want their money back ideal

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Speaker 6: it like in one year. They might give an extension

379
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Speaker 6: for another six months or another year. With these cash

380
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Speaker 6: out has to base lenders, they'll give you loans for

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Speaker 6: a fixed for five years, like the thirty year mortgage.

382
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Speaker 6: But basically is it like an interest race for five years,

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Speaker 6: seven years, or ten years.

384
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Speaker 3: But after you know, at one point they want.

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Speaker 6: You to either you know, refi them out sell the house,

386
00:15:56,440 --> 00:15:58,280
Speaker 6: or you could go with the thirty year program.

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Speaker 3: But the interest rate's gonna be a lot high. You

388
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Speaker 3: might look at like a eight and a half nine.

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Speaker 6: Percent, So I'd rather just go with the short terms.

390
00:16:03,200 --> 00:16:04,720
Speaker 6: I figured out, you know, five years for me is

391
00:16:04,760 --> 00:16:08,160
Speaker 6: like a long time, and I'm constantly evolving in real estate.

392
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Speaker 6: So I figured, like, you know, get the lower interest

393
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Speaker 6: rate just to increase the cash flow, and then in

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Speaker 6: five years, I'll figure it out.

395
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Speaker 3: You know, what's the next So what do you usually

396
00:16:15,560 --> 00:16:17,080
Speaker 3: do in five years? What do you do?

397
00:16:17,440 --> 00:16:19,840
Speaker 6: What's your game plan? But let's just say right now,

398
00:16:19,840 --> 00:16:23,120
Speaker 6: I work with my portfolio right now. Right now, I

399
00:16:23,200 --> 00:16:26,400
Speaker 6: just started building brand new construction houses. Those I'm not

400
00:16:26,440 --> 00:16:29,760
Speaker 6: gonna keep. Had I done new construction a couple of

401
00:16:29,800 --> 00:16:32,280
Speaker 6: years ago, I definitely would have kept them. But my

402
00:16:32,440 --> 00:16:35,040
Speaker 6: mindset right now is to develop buildings. And I already

403
00:16:35,080 --> 00:16:37,440
Speaker 6: have the land to start developing buildings. But I feel

404
00:16:37,440 --> 00:16:38,840
Speaker 6: like that's like too far of a reach for me

405
00:16:38,960 --> 00:16:41,040
Speaker 6: right now. So what I'm gonna do. I'm gonna end

406
00:16:41,080 --> 00:16:44,280
Speaker 6: up selling about from ten to fifteen new construction. Sell those,

407
00:16:44,880 --> 00:16:47,520
Speaker 6: get that money, and then start building the buildings. So

408
00:16:47,800 --> 00:16:50,200
Speaker 6: like in five years, I already have a couple of buildings.

409
00:16:50,360 --> 00:16:52,160
Speaker 6: Once I start developing the buildings, let's say if I

410
00:16:52,240 --> 00:16:54,920
Speaker 6: developed a thirty in the building, I'm gonna start unloading

411
00:16:55,120 --> 00:16:57,560
Speaker 6: thirty unions of these like small properties, like I don't

412
00:16:57,600 --> 00:16:59,000
Speaker 6: want to deal with like the headqu of these small

413
00:16:59,120 --> 00:17:01,040
Speaker 6: ones when I have thirty tenants in one section.

414
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Speaker 7: If this sounds like monopoly, it is like I literally

415
00:17:05,440 --> 00:17:08,240
Speaker 7: watched your vision board and like the last board is

416
00:17:08,280 --> 00:17:10,359
Speaker 7: like and when I get all these things, I'll have

417
00:17:10,359 --> 00:17:12,800
Speaker 7: my monopoly. So you're starting with the little the little

418
00:17:13,240 --> 00:17:15,960
Speaker 7: greenhouses until you can get the red building right and

419
00:17:16,000 --> 00:17:17,119
Speaker 7: once you start doing that.

420
00:17:17,440 --> 00:17:19,760
Speaker 3: Three three green houses in one red hotel, that's that's

421
00:17:19,840 --> 00:17:20,600
Speaker 3: hotel hotel.

422
00:17:21,280 --> 00:17:23,000
Speaker 4: If you understand me, now I'll sell all the topics

423
00:17:23,320 --> 00:17:25,240
Speaker 4: stand monopoly, you can understand how to make money in

424
00:17:25,240 --> 00:17:25,600
Speaker 4: this world.

425
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Speaker 6: I'm gonna take this right now, like the way I

426
00:17:28,080 --> 00:17:32,080
Speaker 6: play Monopoly as a kid, and even now that's the

427
00:17:32,080 --> 00:17:35,360
Speaker 6: same way I approach realistic. It's like my strategy when

428
00:17:35,359 --> 00:17:37,120
Speaker 6: I play Monopoly is just you know, obviously you got

429
00:17:37,119 --> 00:17:37,680
Speaker 6: to go around goal.

430
00:17:37,720 --> 00:17:38,520
Speaker 3: You just collect the money.

431
00:17:38,520 --> 00:17:40,840
Speaker 6: But whenever I land on a piece of property, I

432
00:17:40,960 --> 00:17:42,639
Speaker 6: try to get that property. Like I focus is just

433
00:17:42,640 --> 00:17:44,680
Speaker 6: getting like the property and then you know, focus on

434
00:17:44,720 --> 00:17:46,879
Speaker 6: getting like kind of like the like the houses.

435
00:17:46,880 --> 00:17:48,159
Speaker 3: So it's kind of like that sort of what I've

436
00:17:48,200 --> 00:17:49,640
Speaker 3: been doing. It's like if I see a really good

437
00:17:49,680 --> 00:17:51,800
Speaker 3: deal and I land on it, I'm gonna try to

438
00:17:51,840 --> 00:17:54,359
Speaker 3: get it, you know, it's like nothing't let it pass out.

439
00:17:54,640 --> 00:17:54,800
Speaker 4: Now.

440
00:17:54,800 --> 00:17:56,760
Speaker 3: I own properties that are kind of like next to

441
00:17:56,800 --> 00:17:57,160
Speaker 3: each other.

442
00:17:57,600 --> 00:18:00,399
Speaker 6: If you look at a building anywhere you go and

443
00:18:00,440 --> 00:18:02,280
Speaker 6: you really size up the building, you realize it's like,

444
00:18:02,280 --> 00:18:04,240
Speaker 6: you know what, it's not that big of a land.

445
00:18:04,760 --> 00:18:07,200
Speaker 6: It's just that a small piece of land. They just went,

446
00:18:07,280 --> 00:18:09,840
Speaker 6: you know, pretty high up and they have all these units.

447
00:18:09,440 --> 00:18:12,920
Speaker 8: So erners, what's up? You ever walk into a small

448
00:18:12,960 --> 00:18:16,359
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449
00:18:16,400 --> 00:18:19,960
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450
00:18:20,000 --> 00:18:22,679
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451
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452
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454
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455
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456
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459
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460
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461
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462
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463
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464
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465
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Speaker 1: You just realized your business needed to hire someone yesterday.

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493
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Speaker 1: on this podcast. Terms and conditions apply hiring Indeed is

494
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Speaker 1: all you need in the.

495
00:21:00,280 --> 00:21:01,879
Speaker 6: City is where you're gonna find the buildings. You're not

496
00:21:01,880 --> 00:21:03,919
Speaker 6: gonna find them in the suburbs. So now if you

497
00:21:04,160 --> 00:21:06,240
Speaker 6: basically it's sort of just like monopoly to get you know,

498
00:21:06,320 --> 00:21:08,800
Speaker 6: four properties, and on those four properties, like your pup

499
00:21:08,880 --> 00:21:09,240
Speaker 6: a building.

500
00:21:10,119 --> 00:21:12,400
Speaker 3: All right, So that at least perfect segue into our

501
00:21:12,440 --> 00:21:16,040
Speaker 3: next segment where we're gonna talk about your next level

502
00:21:16,040 --> 00:21:18,400
Speaker 3: of what you're doing, which you was just briefly talking about,

503
00:21:18,400 --> 00:21:21,440
Speaker 3: but we're gonna go into details for the next level.

504
00:21:21,600 --> 00:21:24,200
Speaker 3: All right, So we're playing. We're playing monopoly with real money,

505
00:21:24,280 --> 00:21:29,320
Speaker 3: like the what was that video? Presidents shouted the shout

506
00:21:29,359 --> 00:21:32,160
Speaker 3: that Jay we had the reference day. Yeah, we kept

507
00:21:32,720 --> 00:21:37,320
Speaker 3: a lot easy two players. I'm gonna play with some

508
00:21:37,359 --> 00:21:40,720
Speaker 3: real money, easy, Dame Big. We was kind of raised

509
00:21:40,720 --> 00:21:42,879
Speaker 3: off for music. That's what we we. We relate to

510
00:21:42,920 --> 00:21:43,760
Speaker 3: the music a lot.

511
00:21:43,960 --> 00:21:46,000
Speaker 4: But if anybody from that era you remember they were

512
00:21:46,000 --> 00:21:47,560
Speaker 4: playing Monopoly with real money, but.

513
00:21:49,280 --> 00:21:55,040
Speaker 3: It is actually really playing monopoly like rat. It's bigger

514
00:21:55,040 --> 00:22:00,440
Speaker 3: than rat. We're getting so all right, So now you

515
00:22:00,560 --> 00:22:03,639
Speaker 3: talked about the blueprint as far as to buy the

516
00:22:03,720 --> 00:22:06,119
Speaker 3: homes and then to get the money out of the

517
00:22:06,160 --> 00:22:09,800
Speaker 3: homes and then buy another home and kind of keep

518
00:22:09,840 --> 00:22:12,720
Speaker 3: that's like bone what you're saying that. See, all successful

519
00:22:12,720 --> 00:22:15,240
Speaker 3: people have a plan, right, nobody just start.

520
00:22:15,280 --> 00:22:18,720
Speaker 4: We had another guest on episode eleven, shot Derek Falcon.

521
00:22:18,760 --> 00:22:20,879
Speaker 4: He was a great episode on He's a restaurant own

522
00:22:20,880 --> 00:22:24,080
Speaker 4: in Baltimore, and he spoke about you have to have

523
00:22:24,119 --> 00:22:26,640
Speaker 4: a vision, right his he was like, whenever he goes

524
00:22:26,640 --> 00:22:28,840
Speaker 4: into something, he thinks about like what is his grandkids

525
00:22:28,880 --> 00:22:29,840
Speaker 4: going to inherit?

526
00:22:30,119 --> 00:22:32,200
Speaker 3: You know, that's like his play, like what's the grandkids

527
00:22:32,200 --> 00:22:34,919
Speaker 3: going to inherit? Even though he doesn't even have kids yet,

528
00:22:34,960 --> 00:22:37,560
Speaker 3: don't think so.

529
00:22:37,800 --> 00:22:41,160
Speaker 4: But so that's like you got always think three steps ahead.

530
00:22:41,160 --> 00:22:43,359
Speaker 4: So you already you're already playing three steps ahead.

531
00:22:43,440 --> 00:22:46,560
Speaker 3: Right. So you did the you're doing the real estate.

532
00:22:46,320 --> 00:22:49,639
Speaker 4: Thing with the mixed unit well multi level homes and

533
00:22:49,640 --> 00:22:52,600
Speaker 4: things that nature, most of them homes. But the next

534
00:22:52,640 --> 00:22:55,760
Speaker 4: play is a bigger play, right, Yeah, so we want

535
00:22:55,800 --> 00:22:58,080
Speaker 4: to talk about that in this segment. So you told

536
00:22:58,080 --> 00:23:00,280
Speaker 4: me over the phone when we spoke, and I saw

537
00:23:00,440 --> 00:23:02,960
Speaker 4: the seminar, and now you're just buying plots of land,

538
00:23:03,400 --> 00:23:06,359
Speaker 4: right and yeah, now you're a real estate developer.

539
00:23:06,560 --> 00:23:09,920
Speaker 3: Yes, can you talk about that? Yeah.

540
00:23:10,080 --> 00:23:12,520
Speaker 6: So a couple of months back, like I was with

541
00:23:12,680 --> 00:23:14,920
Speaker 6: with Caesar and so we went out of a political

542
00:23:14,960 --> 00:23:17,720
Speaker 6: function and we're just you know, chopping it up, and

543
00:23:17,800 --> 00:23:20,560
Speaker 6: he showed me, he know, he's like, look like if

544
00:23:20,600 --> 00:23:22,960
Speaker 6: he's lost day for sale, Like you're interested and I

545
00:23:23,000 --> 00:23:25,960
Speaker 6: looked at him. I saw the addresses. I was like, man,

546
00:23:25,960 --> 00:23:28,000
Speaker 6: I'm just garbage like.

547
00:23:28,440 --> 00:23:31,399
Speaker 7: People for two seconds, because when I say lots right,

548
00:23:31,400 --> 00:23:33,159
Speaker 7: a lot of people will think, oh, you're buying a

549
00:23:33,200 --> 00:23:33,840
Speaker 7: parking lot.

550
00:23:34,400 --> 00:23:38,200
Speaker 3: No, so I think that that goes over like they're like,

551
00:23:38,320 --> 00:23:39,359
Speaker 3: he's finding your.

552
00:23:39,280 --> 00:23:42,680
Speaker 6: Lives basically, that's where your properties, like the house is located, exactly, Okay,

553
00:23:42,800 --> 00:23:43,159
Speaker 6: thank you.

554
00:23:43,200 --> 00:23:44,920
Speaker 3: So he looks at him, so he's like, yeah, for

555
00:23:45,080 --> 00:23:45,560
Speaker 3: the same thing.

556
00:23:45,960 --> 00:23:47,560
Speaker 6: But as I'm looking through, I saw there was one

557
00:23:47,560 --> 00:23:50,399
Speaker 6: address that popped up and it was two lots and

558
00:23:50,440 --> 00:23:53,119
Speaker 6: it went next to two properties that already own that

559
00:23:53,160 --> 00:23:55,680
Speaker 6: are right next to each other. So I was like, oh,

560
00:23:55,680 --> 00:23:58,320
Speaker 6: wait a minute. I was been looking for that one.

561
00:23:58,359 --> 00:24:00,320
Speaker 6: I was like, oh this was like, was like, yeah,

562
00:24:00,359 --> 00:24:01,600
Speaker 6: let me get that list. He send it over to

563
00:24:01,600 --> 00:24:03,679
Speaker 6: me and then rese out to the rotor. But I

564
00:24:03,720 --> 00:24:06,040
Speaker 6: just wanted those two. I wasn't interested interested in the

565
00:24:06,040 --> 00:24:08,320
Speaker 6: other ones. Yeah, So but the guy was like, now

566
00:24:08,440 --> 00:24:12,080
Speaker 6: the seller he's only willing to basically sell the whole

567
00:24:12,160 --> 00:24:14,200
Speaker 6: everything together, like he's not going to just make it

568
00:24:14,240 --> 00:24:16,600
Speaker 6: pick which ones you want, So I still push for

569
00:24:16,640 --> 00:24:17,800
Speaker 6: I was like, you know what, then I'm going boy,

570
00:24:18,119 --> 00:24:18,800
Speaker 6: you know, I try to.

571
00:24:18,760 --> 00:24:20,640
Speaker 3: Squeeze in half of them and like putting them off

572
00:24:20,640 --> 00:24:22,800
Speaker 3: for like half. He's like, nah, he wants, he wants.

573
00:24:22,800 --> 00:24:23,720
Speaker 3: You know, you gotta buy everything.

574
00:24:23,760 --> 00:24:26,240
Speaker 6: So I low balled them on everything, and just with

575
00:24:26,320 --> 00:24:27,800
Speaker 6: the idea, I said, you know what, I'm going to

576
00:24:27,880 --> 00:24:28,560
Speaker 6: buy everything.

577
00:24:28,600 --> 00:24:30,040
Speaker 3: And as soon as I buy it, did the numbers

578
00:24:30,040 --> 00:24:30,280
Speaker 3: that if.

579
00:24:30,200 --> 00:24:32,240
Speaker 6: He gives it to me at this price, I could

580
00:24:32,280 --> 00:24:33,919
Speaker 6: just throw it back up the market, just make a

581
00:24:33,920 --> 00:24:37,919
Speaker 6: few a few dollars on it. So get into the process.

582
00:24:37,920 --> 00:24:40,040
Speaker 6: I ended up going on the contract. As I'm going

583
00:24:40,040 --> 00:24:42,399
Speaker 6: on the contract, I'm started doing more research. I started

584
00:24:42,440 --> 00:24:46,520
Speaker 6: researching brand new constructions and I noticed that they were selling.

585
00:24:46,240 --> 00:24:52,359
Speaker 3: For like three fifty three thirty three sixty And.

586
00:24:52,280 --> 00:24:55,120
Speaker 6: I realized that they are new constructions. But these new

587
00:24:55,119 --> 00:24:59,240
Speaker 6: constructions were built in two thousand and three. Now these

588
00:24:59,240 --> 00:25:01,320
Speaker 6: will be building twenty eighteen. So I was like, waiting,

589
00:25:01,400 --> 00:25:03,000
Speaker 6: that means that these have to be worth a lot

590
00:25:03,000 --> 00:25:07,600
Speaker 6: more than so at least three seventy five. So so so

591
00:25:07,760 --> 00:25:11,000
Speaker 6: I figured, so the key is like, no number one,

592
00:25:11,000 --> 00:25:12,440
Speaker 6: you gotta know what you can you saw something for

593
00:25:12,560 --> 00:25:14,640
Speaker 6: so like I had to be seventy five. So now

594
00:25:15,040 --> 00:25:16,520
Speaker 6: how much am I paying for these lasts?

595
00:25:17,000 --> 00:25:19,520
Speaker 3: On average? I was like paying like twenty five twenty

596
00:25:19,520 --> 00:25:21,520
Speaker 3: about twenty five thousand. I mean, how many left did

597
00:25:21,560 --> 00:25:25,120
Speaker 3: you buy? Twenty two? Well two twenty five thousand a piece?

598
00:25:25,359 --> 00:25:27,119
Speaker 3: Twenty thousand piece here? And there was like another like

599
00:25:27,119 --> 00:25:28,480
Speaker 3: a two family ender that they just kind of like

600
00:25:28,480 --> 00:25:32,000
Speaker 3: the win do you? How do you? How do you buy? List?

601
00:25:32,040 --> 00:25:34,480
Speaker 3: You buy any cash? Can you get like a moan

602
00:25:34,560 --> 00:25:36,480
Speaker 3: for that? Yeah? That was like a message.

603
00:25:36,520 --> 00:25:38,159
Speaker 6: But I'm colling up like the hard money numbers that

604
00:25:38,200 --> 00:25:40,680
Speaker 6: I use, and they're like, we don't know, I'm vacant lost.

605
00:25:40,960 --> 00:25:42,960
Speaker 3: I was like, wait, okay, I just put up.

606
00:25:44,880 --> 00:25:47,280
Speaker 6: I just put up like twenty thousand dollars non refundable

607
00:25:47,280 --> 00:25:49,120
Speaker 6: with you. You can't know me on this, Like now

608
00:25:49,200 --> 00:25:50,919
Speaker 6: you know what you gotta put up like fifty percent.

609
00:25:51,080 --> 00:25:52,240
Speaker 3: I was like, shit, I can't. I was like, no,

610
00:25:52,320 --> 00:25:53,000
Speaker 3: that's too much, is it?

611
00:25:53,000 --> 00:25:54,919
Speaker 6: And I started making pocals and I start explaining to

612
00:25:55,480 --> 00:25:56,959
Speaker 6: you know, I had the conversation, I know how much

613
00:25:57,000 --> 00:25:57,640
Speaker 6: business we've done.

614
00:25:58,040 --> 00:25:58,399
Speaker 3: We got it.

615
00:25:58,680 --> 00:26:04,400
Speaker 7: You got some great context if I close myship really

616
00:26:04,400 --> 00:26:05,280
Speaker 7: good relationships man.

617
00:26:05,640 --> 00:26:07,520
Speaker 3: And I'm a quiet guy, like you know, another like

618
00:26:07,560 --> 00:26:08,280
Speaker 3: a big speaker.

619
00:26:08,320 --> 00:26:09,399
Speaker 6: But you know when it comes to like you know,

620
00:26:09,440 --> 00:26:11,040
Speaker 6: business and stuff and then get on that phone, it's like,

621
00:26:11,080 --> 00:26:12,080
Speaker 6: you know, I started, like I start.

622
00:26:11,880 --> 00:26:14,480
Speaker 3: To transforming man like.

623
00:26:13,600 --> 00:26:15,600
Speaker 6: Like Michael Jackson gets on stage, you know, quiet do

624
00:26:15,680 --> 00:26:16,800
Speaker 6: off stage, but on stage.

625
00:26:16,840 --> 00:26:20,320
Speaker 3: Against the performance showtimes. So long time shot.

626
00:26:20,320 --> 00:26:22,760
Speaker 6: I convinced them to loan me uh and they were

627
00:26:22,760 --> 00:26:24,320
Speaker 6: willing to do. You know, the London was waiting to

628
00:26:24,359 --> 00:26:27,080
Speaker 6: do twenty percent. One thing about these lots that I

629
00:26:27,119 --> 00:26:29,560
Speaker 6: picked up though, is that because they're located in urban areas,

630
00:26:30,520 --> 00:26:33,960
Speaker 6: they're located in redevelopment zones, which meant that the city

631
00:26:34,080 --> 00:26:37,480
Speaker 6: has these kind of sort of like set idea of

632
00:26:37,520 --> 00:26:40,359
Speaker 6: what you can build on these lots, and if you

633
00:26:40,520 --> 00:26:43,399
Speaker 6: meet the square footage and what they want, then you

634
00:26:43,400 --> 00:26:45,000
Speaker 6: don't need to go in front of a zoning board.

635
00:26:45,400 --> 00:26:48,240
Speaker 3: You can just basically submit payment. Like to just submit

636
00:26:48,320 --> 00:26:51,680
Speaker 3: plans to the building department is just like taking out

637
00:26:51,680 --> 00:26:53,640
Speaker 3: a permit on a whole new construction.

638
00:26:54,520 --> 00:26:56,879
Speaker 6: So that allowed me to leverage these outs. So as

639
00:26:56,920 --> 00:26:58,480
Speaker 6: soon as I closed, I was able to you know,

640
00:26:58,520 --> 00:27:01,480
Speaker 6: get with the architect and and send it all the paper.

641
00:27:01,480 --> 00:27:04,000
Speaker 6: We can already have permits on five which means I

642
00:27:04,000 --> 00:27:07,560
Speaker 6: already have the financing in place to build these five.

643
00:27:08,320 --> 00:27:10,120
Speaker 4: What's the permits you talk about that when you spoke,

644
00:27:10,400 --> 00:27:13,720
Speaker 4: when we first spoke, you had to have the permits,

645
00:27:13,720 --> 00:27:15,440
Speaker 4: Like it's a process, right when you buy a land,

646
00:27:15,440 --> 00:27:17,080
Speaker 4: Like it's different than just buying a home.

647
00:27:17,000 --> 00:27:19,280
Speaker 6: Right, So yeah, yeah, when you yeah, when you buy

648
00:27:19,320 --> 00:27:21,240
Speaker 6: a land, is it's more complicated because it's like banks

649
00:27:21,240 --> 00:27:22,960
Speaker 6: don't really want to loan online because what think you have?

650
00:27:23,119 --> 00:27:23,760
Speaker 3: Just have dirt.

651
00:27:23,600 --> 00:27:26,120
Speaker 6: Basically, you know, it's like no, no, no property, there's

652
00:27:26,119 --> 00:27:27,280
Speaker 6: no cashlow, nothing on it.

653
00:27:27,280 --> 00:27:28,360
Speaker 3: It's just basically breaking lots.

654
00:27:28,840 --> 00:27:31,159
Speaker 6: And in most places when you buy a lot you

655
00:27:31,240 --> 00:27:32,680
Speaker 6: have to go in front of the zone board, which

656
00:27:32,720 --> 00:27:35,040
Speaker 6: can take a year before you can start building up

657
00:27:35,720 --> 00:27:37,480
Speaker 6: these you know. Unfortunately I was able to kind of

658
00:27:37,480 --> 00:27:40,439
Speaker 6: like build right away. So now going back to like

659
00:27:40,480 --> 00:27:43,160
Speaker 6: the numbers, basically like so three seventy five and twenty

660
00:27:43,160 --> 00:27:45,000
Speaker 6: five for the lot, that puts me like a three fifty.

661
00:27:45,600 --> 00:27:49,080
Speaker 6: So now the difference between now, let's say a few

662
00:27:49,119 --> 00:27:52,040
Speaker 6: years back, is like the market where is that now

663
00:27:52,080 --> 00:27:53,359
Speaker 6: where it was a few years back. If we go

664
00:27:53,400 --> 00:27:55,520
Speaker 6: back like three years you built a new construction home,

665
00:27:55,560 --> 00:27:57,800
Speaker 6: you were lucky to get two fifty maybe two seventy

666
00:27:57,800 --> 00:27:58,240
Speaker 6: five for it.

667
00:27:58,720 --> 00:28:00,000
Speaker 3: But now thinking about it, now, let's say it.

668
00:28:00,000 --> 00:28:02,480
Speaker 6: If it costs you two twenty five to bill and

669
00:28:02,520 --> 00:28:04,600
Speaker 6: you're gonna sell it for two fifty years, you're almost

670
00:28:04,640 --> 00:28:07,000
Speaker 6: like bricking Ethan basically, or even like, you know, two

671
00:28:07,040 --> 00:28:08,840
Speaker 6: seventy five, I'm ready to make much money. So now

672
00:28:09,359 --> 00:28:11,439
Speaker 6: then you can go three seventy five. That gives an

673
00:28:11,480 --> 00:28:13,639
Speaker 6: extra whole hundred thousand, So that makes a big difference.

674
00:28:13,680 --> 00:28:16,040
Speaker 6: So that kind of changed over my mind. I said,

675
00:28:16,080 --> 00:28:17,280
Speaker 6: you know what, why am I going to not do

676
00:28:17,400 --> 00:28:20,800
Speaker 6: complete renovations when I could just basically build all these homes.

677
00:28:21,320 --> 00:28:24,480
Speaker 3: So now instead of grabbing the lots, keeping the ones.

678
00:28:24,320 --> 00:28:25,600
Speaker 6: That I want to send off the other ones and

679
00:28:25,640 --> 00:28:27,600
Speaker 6: saying no, I forget that, I'm gonna basically get all

680
00:28:27,640 --> 00:28:29,040
Speaker 6: these lots and I'm gonna build all of them.

681
00:28:29,359 --> 00:28:31,399
Speaker 7: So can we go back a little bit because you

682
00:28:31,440 --> 00:28:33,680
Speaker 7: said season had a list, right, and it was twenty

683
00:28:33,680 --> 00:28:36,480
Speaker 7: two you're twenty two lots. Where does someone even see

684
00:28:36,520 --> 00:28:38,200
Speaker 7: that list? Like is that at an auction? Where are

685
00:28:38,200 --> 00:28:39,320
Speaker 7: we getting that? We have to go our kind of

686
00:28:39,360 --> 00:28:40,040
Speaker 7: clerk or something.

687
00:28:40,240 --> 00:28:44,080
Speaker 6: No, No, that's just relationships, and it's Basically, when you're known,

688
00:28:44,720 --> 00:28:47,640
Speaker 6: you know, for making deals, deals will pop up on

689
00:28:47,680 --> 00:28:49,400
Speaker 6: your email, like you know, I get phone calls all

690
00:28:49,400 --> 00:28:51,280
Speaker 6: the time like hey listen, I got this deal, and it's.

691
00:28:51,120 --> 00:28:52,360
Speaker 3: Like, you know it's a good deal of John Binder,

692
00:28:52,440 --> 00:28:53,680
Speaker 3: it's not a good deal, and I'll let it go.

693
00:28:54,120 --> 00:28:55,600
Speaker 3: A lot of times people tell me like, hey, you

694
00:28:55,600 --> 00:28:57,720
Speaker 3: ever let go one of those deals. You don't mind?

695
00:28:57,760 --> 00:28:59,760
Speaker 3: Then is this? It's like you don't want it because

696
00:28:59,760 --> 00:29:01,360
Speaker 3: it's like if there's a reason if I let it go,

697
00:29:01,400 --> 00:29:03,040
Speaker 3: is because it's not a good deal. Basically, if it's.

698
00:29:02,880 --> 00:29:05,360
Speaker 9: A good deal, I'm somehow someway I'm gonna make ap

699
00:29:06,040 --> 00:29:09,920
Speaker 9: So all right, So okay, So now you're building homes, right,

700
00:29:11,080 --> 00:29:13,080
Speaker 9: So when you're building homes from scratch?

701
00:29:13,200 --> 00:29:16,120
Speaker 3: Right, what kind of homes are you building? How do

702
00:29:16,160 --> 00:29:18,880
Speaker 3: you build a home? Who do you have? Contract? Like?

703
00:29:18,920 --> 00:29:21,000
Speaker 3: How does that happen? So? All right?

704
00:29:21,040 --> 00:29:23,040
Speaker 6: So I mean, first of all, you know, the idea

705
00:29:23,080 --> 00:29:25,959
Speaker 6: of building something from the ground up was was scary.

706
00:29:26,320 --> 00:29:28,040
Speaker 3: I was like I've never done it. It's like how

707
00:29:28,080 --> 00:29:28,760
Speaker 3: am I gonna do this?

708
00:29:29,760 --> 00:29:32,080
Speaker 6: But you know, going back to that whole renovation schedule

709
00:29:32,120 --> 00:29:33,520
Speaker 6: when you map it out and you like kind of

710
00:29:33,520 --> 00:29:35,080
Speaker 6: break everything up into pieces.

711
00:29:35,920 --> 00:29:38,360
Speaker 3: It's like when you do a.

712
00:29:37,920 --> 00:29:41,160
Speaker 6: Complete renovation, the first thing that I basically look for,

713
00:29:41,320 --> 00:29:42,680
Speaker 6: you know, you need to cut the property.

714
00:29:42,760 --> 00:29:44,800
Speaker 3: Once you cut the property, then you go to the framing.

715
00:29:45,200 --> 00:29:46,080
Speaker 3: You know, it's like a system.

716
00:29:46,080 --> 00:29:48,160
Speaker 6: And from framing you go to you want to do

717
00:29:48,640 --> 00:29:51,360
Speaker 6: the plumbing, Then you do the electric you know, then

718
00:29:51,360 --> 00:29:52,920
Speaker 6: it comes the installation, it comes to driveable.

719
00:29:53,040 --> 00:29:54,920
Speaker 3: So it's like a process of step. You just kind

720
00:29:54,920 --> 00:29:56,080
Speaker 3: of map it out step by step.

721
00:29:56,560 --> 00:29:58,960
Speaker 6: So now if you put complete renovation one side, you

722
00:29:58,960 --> 00:30:00,680
Speaker 6: put new construction on the the other side, what's the

723
00:30:00,720 --> 00:30:01,720
Speaker 6: difference between the two.

724
00:30:02,440 --> 00:30:03,760
Speaker 3: The only difference is that.

725
00:30:03,680 --> 00:30:08,120
Speaker 6: On a on a car, on a new construction, you

726
00:30:08,200 --> 00:30:11,800
Speaker 6: need foundation and you need framing. Once you have foundation

727
00:30:11,880 --> 00:30:13,560
Speaker 6: and framing, pretty much what you have is like the

728
00:30:13,600 --> 00:30:15,840
Speaker 6: skeleton of a house. When you buy a house and

729
00:30:15,880 --> 00:30:18,239
Speaker 6: you do a gu renovation, that's all you left with

730
00:30:18,280 --> 00:30:21,320
Speaker 6: the skeleton of the house. So now if so I

731
00:30:21,400 --> 00:30:22,800
Speaker 6: kind of like really did the math. I was like, oh,

732
00:30:22,880 --> 00:30:24,840
Speaker 6: if I picked up the last of twenty five, how

733
00:30:24,920 --> 00:30:26,600
Speaker 6: much can it really cost me to do a foundation?

734
00:30:26,920 --> 00:30:28,640
Speaker 6: And I just you know, I figured, you know, what

735
00:30:29,040 --> 00:30:30,600
Speaker 6: made you know, made some phone calls just you know,

736
00:30:30,840 --> 00:30:33,120
Speaker 6: contract is giving me prices, and it's like most people say,

737
00:30:33,160 --> 00:30:37,040
Speaker 6: like forty thousand for cement up forty thousand you're just

738
00:30:37,160 --> 00:30:39,320
Speaker 6: need just the found oudation out. So it's like forty

739
00:30:39,360 --> 00:30:41,200
Speaker 6: thousand and made some other phone cause how much is

740
00:30:41,200 --> 00:30:42,520
Speaker 6: you know for the frame this thing? It came up

741
00:30:42,560 --> 00:30:45,040
Speaker 6: to price like forty thousand, like eighty so now eighty

742
00:30:45,080 --> 00:30:46,920
Speaker 6: plus the twenty five that's one of five. I was like,

743
00:30:47,600 --> 00:30:50,600
Speaker 6: I'm paying that right now to regulate it for like

744
00:30:50,600 --> 00:30:51,560
Speaker 6: a complete renovation.

745
00:30:51,680 --> 00:30:54,080
Speaker 3: So and that's the worst case scenario right now.

746
00:30:54,160 --> 00:30:57,720
Speaker 6: Being like someone who who knows how to maneuver my

747
00:30:57,760 --> 00:31:01,480
Speaker 6: way around construction, it is like those the ill probably

748
00:31:01,520 --> 00:31:02,920
Speaker 6: cut both of them down, like be half.

749
00:31:03,320 --> 00:31:05,560
Speaker 3: How much of course, like how much more costs to

750
00:31:05,560 --> 00:31:06,920
Speaker 3: build up everything else?

751
00:31:07,040 --> 00:31:10,320
Speaker 6: Yeah, you know right now it's gonna be my first rodeo.

752
00:31:10,360 --> 00:31:11,920
Speaker 6: So it's kind of like it's just a budget that.

753
00:31:11,880 --> 00:31:13,440
Speaker 3: I have in my head. And my budget right now.

754
00:31:13,400 --> 00:31:15,640
Speaker 6: Is like one seventy five and you sell that home

755
00:31:15,720 --> 00:31:17,600
Speaker 6: fow much three seventy five to.

756
00:31:17,600 --> 00:31:20,960
Speaker 3: Make two hundred thousand. But then you know, minus the

757
00:31:21,000 --> 00:31:22,560
Speaker 3: twenty five of the line and minus the.

758
00:31:22,560 --> 00:31:25,840
Speaker 6: Closing comes right, So let's say like one fifty, Like

759
00:31:25,840 --> 00:31:27,120
Speaker 6: ten of them is like one point five.

760
00:31:27,160 --> 00:31:28,840
Speaker 3: So what's it? Are you selling these homes or are

761
00:31:28,840 --> 00:31:29,600
Speaker 3: you sun and all?

762
00:31:30,440 --> 00:31:33,280
Speaker 6: Like I said, like only segning them because it's like

763
00:31:33,400 --> 00:31:36,280
Speaker 6: now my vision is to develop buildings, so I already

764
00:31:36,280 --> 00:31:38,120
Speaker 6: have the last for the buildings. I just don't have

765
00:31:38,200 --> 00:31:40,680
Speaker 6: the knowledge of building the building and I don't have

766
00:31:40,720 --> 00:31:43,640
Speaker 6: the liquid funds to get into a project like that

767
00:31:44,360 --> 00:31:47,240
Speaker 6: because it's like I have this big portfolio and net

768
00:31:47,240 --> 00:31:49,880
Speaker 6: worth is looking pretty nice. Yeah, but you know, the

769
00:31:49,960 --> 00:31:52,479
Speaker 6: cash flow is looking pretty tight because it's kind of like,

770
00:31:52,760 --> 00:31:54,880
Speaker 6: you know, the way I see it, once my all

771
00:31:54,920 --> 00:31:57,080
Speaker 6: my personal bills are taken care of, is like if

772
00:31:57,080 --> 00:32:00,280
Speaker 6: I have five thousand dollars in cash low in a month, Yeah,

773
00:32:00,480 --> 00:32:01,960
Speaker 6: the way I see it is like money has to

774
00:32:02,000 --> 00:32:03,280
Speaker 6: work for me. I don't work for money, so it's

775
00:32:03,360 --> 00:32:04,720
Speaker 6: kind of that money is just sitting in the back.

776
00:32:05,160 --> 00:32:07,480
Speaker 6: I just got basically five thousand dollar and lazy in

777
00:32:07,480 --> 00:32:09,400
Speaker 6: the back. So I got put into work. So I'll

778
00:32:09,400 --> 00:32:11,520
Speaker 6: look around and try to find like a property and

779
00:32:11,560 --> 00:32:13,360
Speaker 6: that I know I can hold up, Like that's five

780
00:32:13,360 --> 00:32:15,160
Speaker 6: thousand dollars worth of mortgages that I can hold up

781
00:32:15,680 --> 00:32:17,320
Speaker 6: on the house until I'm ready to start, you know,

782
00:32:17,360 --> 00:32:17,800
Speaker 6: working on it.

783
00:32:18,240 --> 00:32:22,720
Speaker 3: You said money works for me. I don't work for money.

784
00:32:24,160 --> 00:32:26,200
Speaker 3: I was asking going because you told myself at all camera.

785
00:32:26,520 --> 00:32:28,920
Speaker 3: He was like net worth or what was the soul?

786
00:32:29,080 --> 00:32:31,800
Speaker 3: You said, not yet, because it's kind of like y'all

787
00:32:31,840 --> 00:32:35,400
Speaker 3: separate things you got here. You know, your asset minus

788
00:32:35,440 --> 00:32:38,240
Speaker 3: be your liabilities, which is you know, listen, we heard

789
00:32:38,240 --> 00:32:43,640
Speaker 3: that networth networth rich, but cash Oh yeah, networth. Yeah,

790
00:32:43,640 --> 00:32:45,520
Speaker 3: I'm networth rich but cash flow poor. Yeah.

791
00:32:45,560 --> 00:32:47,480
Speaker 6: Yeah, I'm cool with that for now because it's like

792
00:32:47,480 --> 00:32:48,760
Speaker 6: I'm trying to build up. I'm trying to, you know,

793
00:32:48,920 --> 00:32:50,160
Speaker 6: just climb up to a certain level.

794
00:32:50,200 --> 00:32:52,880
Speaker 7: All right, So your net worth could be thirty million, right,

795
00:32:52,920 --> 00:32:55,960
Speaker 7: but your cash flow could be three thousand, And that's okay, right,

796
00:32:56,240 --> 00:32:57,000
Speaker 7: exactly like.

797
00:32:57,400 --> 00:32:57,960
Speaker 3: I wish I had.

798
00:32:59,760 --> 00:33:03,240
Speaker 6: But it's basically like, yeah, like you know, it's two

799
00:33:03,240 --> 00:33:03,760
Speaker 6: different things.

800
00:33:03,800 --> 00:33:04,959
Speaker 3: Like it's just as raptists.

801
00:33:04,960 --> 00:33:07,640
Speaker 6: For example, like you know, people who get these large

802
00:33:07,680 --> 00:33:09,280
Speaker 6: amounts of money, they're.

803
00:33:09,160 --> 00:33:11,560
Speaker 3: Cash bitch, right, Like they have a lot of cash

804
00:33:11,600 --> 00:33:13,560
Speaker 3: on hand, but they probably have like no net worth.

805
00:33:13,680 --> 00:33:16,280
Speaker 6: You probably see people with like the nice cars, the

806
00:33:16,360 --> 00:33:19,760
Speaker 6: jewelry and everything, and then they riding around within net Worth. Yeah,

807
00:33:19,800 --> 00:33:21,600
Speaker 6: so then you can see someone like me. Now I'm

808
00:33:21,640 --> 00:33:25,000
Speaker 6: driving on to Yoa Tacoma. It's like I'm not studying,

809
00:33:25,040 --> 00:33:26,080
Speaker 6: but it's like the network.

810
00:33:25,920 --> 00:33:28,280
Speaker 3: Is looking nice. Network is looking more than nice.

811
00:33:28,720 --> 00:33:31,520
Speaker 7: What's the time frame on building from the ground up?

812
00:33:32,160 --> 00:33:33,920
Speaker 6: That's then, you know, it's just like you don't know

813
00:33:34,640 --> 00:33:35,800
Speaker 6: when you're not familiar with something.

814
00:33:35,800 --> 00:33:37,000
Speaker 3: In my mind, I always sat I was like a

815
00:33:37,040 --> 00:33:38,400
Speaker 3: year is gonna say to build up a house.

816
00:33:39,200 --> 00:33:41,120
Speaker 6: Before I started doing the house, I was like six

817
00:33:41,160 --> 00:33:43,040
Speaker 6: months I'm gonna build, you know, it's going to be

818
00:33:43,040 --> 00:33:43,520
Speaker 6: the time frame.

819
00:33:43,960 --> 00:33:45,880
Speaker 3: Now the time frame is looking like three months. So

820
00:33:45,920 --> 00:33:48,280
Speaker 3: I think like three months I could knock out house. Wow.

821
00:33:48,320 --> 00:33:50,800
Speaker 6: And I could probably build them like two probably like

822
00:33:50,960 --> 00:33:54,200
Speaker 6: two to three weeks apart. So's you go on my Instagram.

823
00:33:54,280 --> 00:33:57,360
Speaker 6: Might now already posted two of them. I saw exactly

824
00:33:57,600 --> 00:33:59,520
Speaker 6: one already have the foundation, the other one I'm working

825
00:33:59,520 --> 00:34:02,080
Speaker 6: on the foody, and then probably like another two weeks.

826
00:34:03,280 --> 00:34:05,000
Speaker 6: One already is gonna have to frame me. The almost

827
00:34:05,000 --> 00:34:06,520
Speaker 6: gonna have the foundation, and I'm gonna be working on

828
00:34:06,560 --> 00:34:08,279
Speaker 6: the foot one. And it's like and they're gonna be

829
00:34:08,320 --> 00:34:09,240
Speaker 6: lined up like that.

830
00:34:09,280 --> 00:34:11,239
Speaker 7: And you just using the same team he's time or

831
00:34:11,280 --> 00:34:13,640
Speaker 7: you're like, you know what, I'm gonna capitalize by using

832
00:34:13,640 --> 00:34:14,359
Speaker 7: different teams that.

833
00:34:14,320 --> 00:34:16,080
Speaker 3: I trust to work on these properties.

834
00:34:16,320 --> 00:34:19,000
Speaker 6: It's like I have my core guys that I trust

835
00:34:19,320 --> 00:34:21,160
Speaker 6: and like, I know they can handle things, and then

836
00:34:21,160 --> 00:34:23,960
Speaker 6: it's their responsibility to build up on them.

837
00:34:24,040 --> 00:34:26,560
Speaker 3: So it's kind of like like my project manager.

838
00:34:26,880 --> 00:34:29,319
Speaker 6: His job is to kind of like I tell him

839
00:34:29,360 --> 00:34:31,400
Speaker 6: this is what I want to do, and then he

840
00:34:31,480 --> 00:34:34,040
Speaker 6: goes out. He finds the extra help, even if it means,

841
00:34:34,840 --> 00:34:36,560
Speaker 6: you know, reaching out to a contract is to kind

842
00:34:36,560 --> 00:34:37,160
Speaker 6: of help him out.

843
00:34:37,160 --> 00:34:37,239
Speaker 3: You know.

844
00:34:37,320 --> 00:34:39,000
Speaker 6: It's crazy, like if I reach out to a contract

845
00:34:39,000 --> 00:34:40,600
Speaker 6: that let's just say, you might tell me fifteen thousand,

846
00:34:40,600 --> 00:34:42,239
Speaker 6: I tell him to reach out, he ends up getting

847
00:34:42,239 --> 00:34:45,960
Speaker 6: it for time, you know, because it's like the relationships

848
00:34:46,160 --> 00:34:48,799
Speaker 6: and Bason, the concept of like, hey, listen, you gotta

849
00:34:48,800 --> 00:34:49,560
Speaker 6: give in your prices.

850
00:34:49,600 --> 00:34:51,400
Speaker 3: I need to make money off of this. But then

851
00:34:51,440 --> 00:34:53,279
Speaker 3: you know, obviously I know what's going on, and the

852
00:34:53,280 --> 00:34:58,720
Speaker 3: savings gett passed down on me. Yeah. Wow, Ladies and gentlemen.

853
00:34:58,960 --> 00:35:03,920
Speaker 4: Once again, free education, right, that's a good thing about

854
00:35:03,920 --> 00:35:04,239
Speaker 4: the show.

855
00:35:04,280 --> 00:35:05,520
Speaker 3: Instead, it's all.

856
00:35:05,320 --> 00:35:10,480
Speaker 4: Free and all of our guests are willing to provide

857
00:35:10,560 --> 00:35:13,120
Speaker 4: information because you didn't have to, you know, tell people

858
00:35:13,239 --> 00:35:15,719
Speaker 4: what you're doing, like you could just be selfish.

859
00:35:16,280 --> 00:35:17,920
Speaker 3: Yeah, like I mean, I'll say this much is like

860
00:35:17,960 --> 00:35:18,439
Speaker 3: going on.

861
00:35:18,480 --> 00:35:21,560
Speaker 6: When she's did the first seminar and he tells me,

862
00:35:21,560 --> 00:35:23,520
Speaker 6: I don't want to do a seminar, I was like, oh,

863
00:35:23,560 --> 00:35:25,920
Speaker 6: that's cool, Like I remember we spoke about doing like

864
00:35:25,960 --> 00:35:26,680
Speaker 6: little seminars.

865
00:35:26,719 --> 00:35:30,400
Speaker 3: But in churches, it's gonna get back to the community.

866
00:35:30,440 --> 00:35:31,880
Speaker 6: Like and I see every time I see like, you know,

867
00:35:32,239 --> 00:35:33,520
Speaker 6: a pastor, I've talked to the laylists.

868
00:35:33,520 --> 00:35:35,040
Speaker 3: You know, I'll do real estate. You want me to

869
00:35:35,080 --> 00:35:36,839
Speaker 3: go to speak to your congregation that it's like, let

870
00:35:36,880 --> 00:35:38,480
Speaker 3: me know, I'll come through and i'll speak. You know,

871
00:35:38,480 --> 00:35:43,200
Speaker 3: nobody's everybody, you know what I mean.

872
00:35:43,239 --> 00:35:45,000
Speaker 6: But it's kind of like maybe now you know, start

873
00:35:45,000 --> 00:35:46,160
Speaker 6: getting phone calls and stuff.

874
00:35:46,440 --> 00:35:48,919
Speaker 3: But you know, but so I thought that's what's gonna

875
00:35:48,920 --> 00:35:49,319
Speaker 3: be here, Like.

876
00:35:49,320 --> 00:35:51,279
Speaker 6: Nah, we're gonna do like these seminars, you know, Like

877
00:35:51,440 --> 00:35:55,600
Speaker 6: I was like, we don't, you know, why.

878
00:35:55,440 --> 00:35:56,080
Speaker 3: Why do this?

879
00:35:56,239 --> 00:35:57,920
Speaker 6: But then when I went to the first seminary, I

880
00:35:57,920 --> 00:35:59,400
Speaker 6: was mind, you I was supposed to speak at the

881
00:35:59,400 --> 00:36:00,880
Speaker 6: first seven or and it's like When I get that,

882
00:36:00,920 --> 00:36:02,520
Speaker 6: I was like, oh no, I can't speak, man, It's

883
00:36:02,520 --> 00:36:04,960
Speaker 6: like I'm not public speakers. I was like, nah, but

884
00:36:05,120 --> 00:36:07,120
Speaker 6: looking at the crowd, when I seen the crowd, seem

885
00:36:07,160 --> 00:36:08,880
Speaker 6: like everybody's like from the you know, the first one

886
00:36:08,920 --> 00:36:10,239
Speaker 6: was the past, and I've seen a lot of people

887
00:36:10,280 --> 00:36:12,239
Speaker 6: that I know and and it just.

888
00:36:12,200 --> 00:36:13,759
Speaker 3: Kind of hit me and I'm like, you know what, man,

889
00:36:13,880 --> 00:36:15,799
Speaker 3: that was me ten fifteen years ago.

890
00:36:15,920 --> 00:36:18,400
Speaker 6: I knew nothing and I needed it, like somebody to

891
00:36:18,480 --> 00:36:21,000
Speaker 6: kind of just not help me out, like giving me

892
00:36:21,000 --> 00:36:22,320
Speaker 6: a hand, but just kind of like guiding me like

893
00:36:22,360 --> 00:36:23,760
Speaker 6: some of this is you know, this is the direction,

894
00:36:23,800 --> 00:36:25,720
Speaker 6: and it's kind of like and we came from nothing.

895
00:36:25,800 --> 00:36:27,640
Speaker 6: So it's like I feel like when they see us,

896
00:36:28,120 --> 00:36:29,839
Speaker 6: you know, they're not seeing these guys in these fantacyes too,

897
00:36:29,840 --> 00:36:31,560
Speaker 6: they seeing themselves. So they're saying like, you know what

898
00:36:31,640 --> 00:36:33,400
Speaker 6: if you know, if like if they did it, they

899
00:36:33,400 --> 00:36:35,319
Speaker 6: put it, they way to put into work, and you know.

900
00:36:35,280 --> 00:36:36,680
Speaker 3: Look with there are now le meanes, I can do it.

901
00:36:36,680 --> 00:36:39,400
Speaker 6: So I feel like I felt I felt bad like

902
00:36:39,600 --> 00:36:40,400
Speaker 6: that I didn't speak.

903
00:36:40,440 --> 00:36:42,319
Speaker 3: I felt bad like yeah, you know what, I let my.

904
00:36:42,480 --> 00:36:44,880
Speaker 6: Fear, you know, stop me from going up there like,

905
00:36:44,920 --> 00:36:47,000
Speaker 6: and these people it's kind of like they need like

906
00:36:47,080 --> 00:36:47,840
Speaker 6: that motivation, you.

907
00:36:47,840 --> 00:36:49,840
Speaker 3: Know what I'm saying. They need that information. So that

908
00:36:49,960 --> 00:36:51,040
Speaker 3: motivated me to kind.

909
00:36:50,920 --> 00:36:54,279
Speaker 6: Of like, you know, you know, to push through and

910
00:36:54,960 --> 00:36:56,759
Speaker 6: then I should speak on stage. And I feel like

911
00:36:57,000 --> 00:36:58,920
Speaker 6: it is like a responsibility for you know, for people

912
00:36:58,960 --> 00:37:00,319
Speaker 6: like us that we are at.

913
00:37:00,200 --> 00:37:02,640
Speaker 3: A at a certain you know, certain.

914
00:37:02,440 --> 00:37:05,160
Speaker 6: Level where we have like this knowledge of this information

915
00:37:05,360 --> 00:37:07,680
Speaker 6: and it's kind of like we could keep it. But

916
00:37:07,840 --> 00:37:09,840
Speaker 6: it's like, you know, it's Tiger Woods right now, showed

917
00:37:09,840 --> 00:37:11,560
Speaker 6: you how to play golf, Michael Jordan showed you how

918
00:37:11,600 --> 00:37:12,400
Speaker 6: to play basketball.

919
00:37:12,920 --> 00:37:13,960
Speaker 3: That's not gonna then.

920
00:37:13,840 --> 00:37:15,799
Speaker 6: They're like exactly, I mean, they're still gonna be who

921
00:37:15,840 --> 00:37:17,440
Speaker 6: they are. So I feel like, if you know, if

922
00:37:17,520 --> 00:37:18,880
Speaker 6: I go out here and I tell you everything that

923
00:37:18,920 --> 00:37:20,680
Speaker 6: I do, how I do it, you still want to

924
00:37:20,840 --> 00:37:24,279
Speaker 6: regardless regardless. I mean, I'll tell you this right now, man,

925
00:37:24,280 --> 00:37:26,480
Speaker 6: like I actuldly like start today and just with these

926
00:37:26,560 --> 00:37:28,719
Speaker 6: last that I have, with these uh, these plans that

927
00:37:28,800 --> 00:37:29,959
Speaker 6: have with the buildings, I'm.

928
00:37:29,880 --> 00:37:31,960
Speaker 3: Gonna stay busy for the next five years.

929
00:37:31,800 --> 00:37:33,640
Speaker 6: And all my crew, everybody that works for me, they're

930
00:37:33,640 --> 00:37:35,160
Speaker 6: gonna stay busy for the next five years, so we're

931
00:37:35,160 --> 00:37:35,680
Speaker 6: all gonna eat.

932
00:37:36,000 --> 00:37:38,000
Speaker 3: So it's kind of like, you know, why why I

933
00:37:38,040 --> 00:37:40,719
Speaker 3: try to keep that information. It's kind of like, you know,

934
00:37:40,760 --> 00:37:42,800
Speaker 3: I don't need to bring you down, so I could elevate,

935
00:37:42,800 --> 00:37:43,279
Speaker 3: you know what I mean.

936
00:37:43,320 --> 00:37:45,400
Speaker 6: It's like I could elevate myself and it bring you up,

937
00:37:45,400 --> 00:37:46,560
Speaker 6: and it's like and I'll still be up to.

938
00:37:46,640 --> 00:37:50,680
Speaker 3: Everybody needs Yeah, everybody needs everybody. Let make sure.

939
00:37:52,239 --> 00:37:57,439
Speaker 6: My graduates from my school being forced bad drop drop,

940
00:37:58,080 --> 00:37:59,759
Speaker 6: Mike drop bad drop.

941
00:38:00,080 --> 00:38:00,360
Speaker 3: Hi, you.

942
00:38:11,560 --> 00:38:15,919
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