WEBVTT - Study Hall: Home Buying Workshop

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<v Speaker 2>No Yah for Miami.

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<v Speaker 3>Oh, let me let the team, Let me let the team.

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<v Speaker 3>I let the team.

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<v Speaker 2>All right, the team coming in.

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<v Speaker 4>Okay, I see, I feel comfortable now.

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<v Speaker 2>The team is in. What's up? What's up? What's up?

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<v Speaker 5>Y'all?

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<v Speaker 2>Let me just put the bad signal out to let

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<v Speaker 2>everybody know what's going on. Uh, we're gonna get into

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<v Speaker 2>this right now. First and foremost, hope everybody's doing well

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<v Speaker 2>out there. Uh we are in beautiful Miami. Anytime you

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<v Speaker 2>get a chance to come to Miami, it's a good time.

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<v Speaker 2>So where county it's a block, it's a vibe every

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<v Speaker 2>time we come out here.

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<v Speaker 4>Sure, shout out to the good brother Mike Rashid. So

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<v Speaker 4>my boy, they said I was duck at the smoke

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<v Speaker 4>on the pull ups. My ball game ain't thirty. I'm

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<v Speaker 4>gonna get there. But that's why you feel. Fitness is

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<v Speaker 4>on the way. So we can go together. I need

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<v Speaker 4>some people to go with me.

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<v Speaker 2>Let's get the guys in here. Yeah. Yeah, shout out

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<v Speaker 2>to MG the mortgage guy, and congratulations on the on

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<v Speaker 2>the blueprint too. I'll see you.

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<v Speaker 5>I'm I'm trying to get you in to plans.

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<v Speaker 2>Peace.

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<v Speaker 4>Peace to see somebody said what up from Crenshaw, What up?

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<v Speaker 3>What up?

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<v Speaker 2>What up? Yah? Yeah. So we're gonna get into this,

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<v Speaker 2>but first we'll let's well give you the rundown of

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<v Speaker 2>what happened today in Miami. We had an open workout

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<v Speaker 2>and it was a really, really dope experience. You know,

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<v Speaker 2>we've been traveling around the country and we've been having

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<v Speaker 2>these networking events in different places. We had a networking

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<v Speaker 2>event in l A. We had a networking event in Atlanta.

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<v Speaker 2>And usually, you know, they kind of follow the same

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<v Speaker 2>blueprint where you know, we pick a lounge, restaurant, bar

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<v Speaker 2>type situation and you know, we do it at nighttime

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<v Speaker 2>and everybody mingles. You know, we bring people in, we know,

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<v Speaker 2>we have some drinks. But today we wanted to do

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<v Speaker 2>a little something different, so we did a more healthy situation.

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<v Speaker 2>We did an open workout, but we did it in

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<v Speaker 2>a gym. Shout out to Boxing Studio for hosting us,

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<v Speaker 2>and we spoke for about an hour, answered questions to

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<v Speaker 2>anybody that had questions for us in Mike Roshi Mike

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<v Speaker 2>Rasche's the biggest when it comes to fitness and a

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<v Speaker 2>really great entrepreneur. And then at the end we did

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<v Speaker 2>a workout and they put everybody through a workout, boxing, workout, cardio, calisthetics.

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<v Speaker 2>It was really really dope. So you know, we put

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<v Speaker 2>some footage up, but we're gonna have more footage up

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<v Speaker 2>in a few days. So that was a really dope

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<v Speaker 2>experience for us to come to Miami and be able

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<v Speaker 2>to do our first event in Miami and do it

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<v Speaker 2>totally different than anything that we've ever done. So shout

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<v Speaker 2>out to everybody that came to that. Shout to E

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<v Speaker 2>y O Fitness. We're gonna be rolling out a lot

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<v Speaker 2>of stuff related to E YO Fitness coming soon. Ye.

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<v Speaker 2>Shout out to Michael She shout out to boxing Studios and.

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<v Speaker 4>Or shout out to all the earners that pulled up.

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<v Speaker 4>There's a lot of people coming in from New York,

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<v Speaker 4>a lot of teachers. What it was, it was a

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<v Speaker 4>beautiful experience.

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<v Speaker 2>Man.

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<v Speaker 4>I was inspired by seeing all the love that was

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<v Speaker 4>showed out there today. And I got my my left

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<v Speaker 4>jat my left jet phone on.

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<v Speaker 2>The on the right. You got you got it right

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<v Speaker 2>on the phone the phone. Wow, if you know, you know, man,

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<v Speaker 2>you know what I'm saying. Man, don't play around. This

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<v Speaker 2>is the case. That's a fact. Matt you muted. Hold on,

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<v Speaker 2>I got you, bro, I got you. Give me some

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<v Speaker 2>we muted or team mutant. Yeah, y'all have me. Yeah,

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<v Speaker 2>we got you now. It was good.

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<v Speaker 6>Yeah. Shout out. Shout out to E y L Fitness

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<v Speaker 6>and Full Swing today. Shout out to Mike rash Man.

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<v Speaker 6>He looked like he was working out out shout. It

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<v Speaker 6>was on that pull up bar. It was looking, it

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<v Speaker 6>was looking. It was looking tough for you. I don't

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<v Speaker 6>know what around that was, bro, But you know, let

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<v Speaker 6>me stop though, because you know I would have been

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<v Speaker 6>struggling too.

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<v Speaker 2>We got we got it.

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<v Speaker 7>That's a important part. Were here to talk about it.

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<v Speaker 7>We got through it. But okay, we're gonna without further ado.

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<v Speaker 7>This is a big class for us, so we have

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<v Speaker 7>three we have this might be the first.

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<v Speaker 2>Time we've had multiple teachers for one class. Yeah, definitely.

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<v Speaker 2>Of course, you guys know if MG the mortgage guy,

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<v Speaker 2>he's been with us forever and the online authority when

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<v Speaker 2>it comes to mortgages. So he just dropped the Home

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<v Speaker 2>Buyers Volume two, and we thought it'd be good to

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<v Speaker 2>talk about the home buying process because we really haven't

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<v Speaker 2>had an in depth conversation in a while. So, but

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<v Speaker 2>he was saying like, instead of him just doing it,

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<v Speaker 2>it should be more of a workshop where we actually

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<v Speaker 2>talk about a few different key components to the home

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<v Speaker 2>buying process. So we brought experts in the field, Jose

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<v Speaker 2>and Roguez, good friend of E. I. L. I professor

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<v Speaker 2>and ey L alumni, better known as a credit dude.

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<v Speaker 2>So Jose is the person that you know gets the

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<v Speaker 2>credit right, everything you need to know about credit. He

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<v Speaker 2>does business credit as well, but personal credit. And that's

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<v Speaker 2>one of the key components obviously to buying a home

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<v Speaker 2>is that you know, it stops a lot of people

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<v Speaker 2>are stopped from buying homes because they don't have their

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<v Speaker 2>credit right. So Jose's going to talk about credit. Of course,

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<v Speaker 2>MG is going to talk about, you know, financing from

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<v Speaker 2>a traditional standpoint and other maybe less traditional standpoints. And

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<v Speaker 2>then we got Kevin Orlando. Shout out to Kevin. Kevin

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<v Speaker 2>also taught a class at Eyo University, and Kevin, what's

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<v Speaker 2>going on on? Thank you for joining us Trouble Pleasure.

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<v Speaker 2>Kevin does hard money loans. So if you watch the

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<v Speaker 2>episode with Lord of the Slums, Fernando shouts and ask

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<v Speaker 2>if you watch, you know, obviously Caesar and Envy and

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<v Speaker 2>a bunch of other people, you know, they use the

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<v Speaker 2>term hard money lending and hard money loans. So people

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<v Speaker 2>might have hurt her hard money, but they might not

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<v Speaker 2>totally be familiar. So that's another the way to actually

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<v Speaker 2>get financing for real estate outside of a traditional bank loan,

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<v Speaker 2>and it's a lot less restrictive and it has a

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<v Speaker 2>lot of benefits as far as you know, for investors.

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<v Speaker 2>So Orlando, Kevin Orlando is going to talk about hard

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<v Speaker 2>money loans and then we're gonna open it up to questions.

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<v Speaker 2>So we got mortgages, we got credit, and we got

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<v Speaker 2>hard money. Ah, mortgage board of Sources.

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<v Speaker 4>We don't call it that the mortgage trinity, Trinity, the

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<v Speaker 4>real estate Trinity.

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<v Speaker 2>Yeah.

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<v Speaker 6>I like that.

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<v Speaker 2>I like, hey, man, we can trademark that right not

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<v Speaker 2>before before we get started. Man, I just want to

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<v Speaker 2>give you credit.

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<v Speaker 4>Ernerd walked up to me and said, today, because of

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<v Speaker 4>your episode, they actually got their first property.

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<v Speaker 2>Out here in Fort Lauderdale.

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<v Speaker 4>So shout out to you and shout out to I

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<v Speaker 4>forget the young lady's name, but she wanted me to

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<v Speaker 4>give you that message.

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<v Speaker 6>I said, I'm gonna see him to night. I'll spread

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<v Speaker 6>that love to him. That's dope. I love that man.

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<v Speaker 6>And you know, yo' it's all crazy when I hear

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<v Speaker 6>stuff like that, and it's just like I don't even

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<v Speaker 6>know who this person is, Like you know what I'm

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<v Speaker 6>saying saying, Like something that I thought was the worst

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<v Speaker 6>interview of all time at the time, Like, why the

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<v Speaker 6>hell you even put that up? I remember calling you'll

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<v Speaker 6>right after we did it, like, now you don't put

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<v Speaker 6>that out, bro, that was terrible. And just to see

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<v Speaker 6>how many people has impacted over the past, what was

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<v Speaker 6>it two years now since we had that out? Two years?

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<v Speaker 6>So like it's dope, man, So shout out to her,

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<v Speaker 6>and shout out to everybody who executed because of the

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<v Speaker 6>content that I've put out over the last couple of years. Dope,

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<v Speaker 6>I love it.

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<v Speaker 2>I appreciate you. So we're gonna we're gonna jump right

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<v Speaker 2>into it. But first I'll let everybody know. If you're

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<v Speaker 2>not familiar, you might have seen a hashtag Eyo University

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<v Speaker 2>and almost every post that we put up and about universal.

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<v Speaker 2>What you might not know what EO University is. So

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<v Speaker 2>what we do here on YouTube at the last Wednesday

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<v Speaker 2>of every month at eight o'clock Eastern Standard time is

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<v Speaker 2>we have what's called open enrollment. So Eyo University is

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<v Speaker 2>our private school educational platform that we started. So we

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<v Speaker 2>have obviously public school, we like to say, which is

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<v Speaker 2>the podcast, YouTube, Instagram, All that's free, more free information

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<v Speaker 2>than I've ever seen online, if humbly speaking. But then

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<v Speaker 2>we have a private school situation where this is a

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<v Speaker 2>more you know, community type feel more in depth and

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<v Speaker 2>for people that you know, really want that you know,

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<v Speaker 2>in person experience without actually being in person. So what

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<v Speaker 2>that includes is weekly webinars. So every single week at

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<v Speaker 2>Wednesday at eight o'clock, we do a class. So the

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<v Speaker 2>last one, most of them, they're always private, but the

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<v Speaker 2>last one of the month we put public on YouTube

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<v Speaker 2>AI to provide information but also to give people an

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<v Speaker 2>inside look at what eyl University is. You know, we

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<v Speaker 2>never had anything, so this is our way to kind of,

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<v Speaker 2>like I said, it's an open house. So I'll quickly

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<v Speaker 2>explain what Eyol University is and the benefits of it.

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<v Speaker 2>So Eyo University includes the Home Boys Blueprint Volume one

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<v Speaker 2>by MG the Mortgage Guy, which is the encyclopedia to

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<v Speaker 2>the home buying process. It includes one hundred pass webinars

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<v Speaker 2>because once the webinars are done the same so it

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<v Speaker 2>includes one hundred pass webinars on all different topics from

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<v Speaker 2>real estate to stocks, to credit, you name it. Weekly classes.

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<v Speaker 2>So every single week at on Wednesday, we do weekly classes.

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<v Speaker 2>MG the mortgage guy also teaches real estate classes on

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<v Speaker 2>an ongoing basis. I do monthly financial planning calls where

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<v Speaker 2>we go over financial planning topics and ask questions, answer

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<v Speaker 2>questions for two hours. This is my favorite part of

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<v Speaker 2>ELI University Infinity groups. So we finish we duplicated the

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<v Speaker 2>whole university model where we have infinity groups twenty Infinity

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<v Speaker 2>groups inside of EU University, where the people, the earners,

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<v Speaker 2>actually are leading the group and they're building a community

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<v Speaker 2>and they're actually learning and building and having meetings with

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<v Speaker 2>each other. So we have the real Estate group, we

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<v Speaker 2>have the stock group, we have the fifty and over Club,

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<v Speaker 2>we have the Military Club. So many different clubs. I

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<v Speaker 2>don't want to miss anyone, but the most one that's

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<v Speaker 2>getting the most action right now is our Crypto Club.

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<v Speaker 2>Shout out to Alistair. The Crypto Club is on fire.

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<v Speaker 2>They have a five hundred people in every single call

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<v Speaker 2>and they break down. It's not like saying like by

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<v Speaker 2>this crypto, it's actually explaining crypto from a very easy

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<v Speaker 2>to understand standpoint. And they just talked about like how

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<v Speaker 2>real estate you can really do real estate crypto. They

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<v Speaker 2>talk about it's everything they break that down, and so

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<v Speaker 2>the crypto club is crazy. It's a full educational cryptocurrency.

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<v Speaker 2>We have a Facebook group of eighty five hundred people.

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<v Speaker 2>The first club our book club shot everybody. I mention that,

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<v Speaker 2>so with the book club, not Infinity. So then we

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<v Speaker 2>have part of the Facebook group is we have a

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<v Speaker 2>book club led by Troy. We have a movie club.

0:11:44.040 --> 0:11:45.320
<v Speaker 2>So I mean, I can keep going on and on,

0:11:45.400 --> 0:11:46.200
<v Speaker 2>but long story.

0:11:46.000 --> 0:11:49.040
<v Speaker 6>Short, don't but don't miss the military man because it's

0:11:49.080 --> 0:11:49.880
<v Speaker 6>Memorial Day.

0:11:49.720 --> 0:11:57.960
<v Speaker 2>Week, said the Military Club. Legal club. Yeahgal, so it's crazy.

0:11:57.960 --> 0:12:00.760
<v Speaker 2>So if you're interested, we're running at his sale for

0:12:00.800 --> 0:12:04.200
<v Speaker 2>that sixty percent off of the annual membership. We penned

0:12:04.200 --> 0:12:07.839
<v Speaker 2>it on the YouTube comment Eyo university dot com. So

0:12:07.880 --> 0:12:10.600
<v Speaker 2>if you're interested, you can check that out and become earner.

0:12:10.640 --> 0:12:13.280
<v Speaker 2>We love to have you. So, all right, without further ado,

0:12:13.760 --> 0:12:15.920
<v Speaker 2>let's get into this. So we're gonna give each gentleman

0:12:16.520 --> 0:12:18.760
<v Speaker 2>around ten minutes to speak and then, as I said,

0:12:18.760 --> 0:12:21.640
<v Speaker 2>we're gonna open it up the question and answers. So

0:12:21.920 --> 0:12:23.080
<v Speaker 2>who wants to kick this off?

0:12:23.640 --> 0:12:27.920
<v Speaker 6>Let's go with credit first, Credit dude. Credit dude is

0:12:27.960 --> 0:12:28.959
<v Speaker 6>always setting it off.

0:12:29.440 --> 0:12:30.959
<v Speaker 8>Let's say I'm ready, let's do it.

0:12:31.760 --> 0:12:34.120
<v Speaker 2>Yeah, I gave you our co host previously, so you

0:12:34.120 --> 0:12:35.600
<v Speaker 2>should be able to share your screen and all that.

0:12:36.080 --> 0:12:39.880
<v Speaker 8>All right, cool, appreciated fellas, Thanks again for having me, man, sir.

0:12:39.960 --> 0:12:41.480
<v Speaker 2>For joining us, bro always honor.

0:12:42.720 --> 0:12:47.800
<v Speaker 8>All right, cool, So let me go ahead and all

0:12:47.880 --> 0:12:52.440
<v Speaker 8>right cool, all right, So I'll share my screen and

0:12:52.679 --> 0:12:54.280
<v Speaker 8>I guess let me know if you can see my screen,

0:12:54.320 --> 0:12:54.840
<v Speaker 8>you can see it.

0:12:55.320 --> 0:12:56.720
<v Speaker 2>Yep, yep, we got it, yep.

0:12:57.120 --> 0:12:57.480
<v Speaker 6>Perfect.

0:12:59.000 --> 0:13:03.800
<v Speaker 8>All right, guys. So you know, the credit dude doesn't

0:13:03.800 --> 0:13:05.439
<v Speaker 8>get easy. Every time I speak and one week, I

0:13:05.480 --> 0:13:07.880
<v Speaker 8>always get nervous. And I always appreciate the platform.

0:13:08.160 --> 0:13:08.360
<v Speaker 2>You know.

0:13:08.440 --> 0:13:11.120
<v Speaker 8>I always love bringing content. I always love sharing something.

0:13:11.160 --> 0:13:13.640
<v Speaker 8>That way somebody could walk away with one piece of

0:13:13.640 --> 0:13:17.079
<v Speaker 8>information to help them get better or to help them

0:13:17.120 --> 0:13:19.520
<v Speaker 8>take their credit to the next level. So my name

0:13:19.559 --> 0:13:22.400
<v Speaker 8>is the credit dude. As you know, Rashat and Troy said,

0:13:22.440 --> 0:13:25.319
<v Speaker 8>I own god credit. I'm here in New Jersey, but

0:13:25.360 --> 0:13:28.080
<v Speaker 8>we can pretty much help anybody is in the US

0:13:28.160 --> 0:13:30.520
<v Speaker 8>except Georgia. And if you if you want to know,

0:13:30.559 --> 0:13:32.000
<v Speaker 8>you can go ahead and the box me and I'll

0:13:32.040 --> 0:13:33.920
<v Speaker 8>let you know why. But I go ahead and present

0:13:33.960 --> 0:13:37.640
<v Speaker 8>my screen. If you do not follow me on Instagram, YouTube,

0:13:37.679 --> 0:13:39.640
<v Speaker 8>or Facebook. You can go ahead as the credit dude

0:13:39.720 --> 0:13:41.920
<v Speaker 8>the same way. I know right now there's people out

0:13:41.920 --> 0:13:45.160
<v Speaker 8>there with underscores and periods trying to mimic the page.

0:13:45.160 --> 0:13:47.640
<v Speaker 8>But the credit dude is I only have one page

0:13:47.640 --> 0:13:49.760
<v Speaker 8>on each platform. And today I want to just go

0:13:49.840 --> 0:13:52.200
<v Speaker 8>over a couple of things on how to help you

0:13:52.480 --> 0:13:53.400
<v Speaker 8>become a homeowner.

0:13:53.440 --> 0:13:53.640
<v Speaker 2>Right.

0:13:54.280 --> 0:13:57.600
<v Speaker 8>There's not more of an investment, property or business credit

0:13:57.640 --> 0:13:59.680
<v Speaker 8>things like that. This is more let me show you

0:13:59.720 --> 0:14:03.200
<v Speaker 8>how to help you become a business ow a homeowner

0:14:03.600 --> 0:14:07.040
<v Speaker 8>very quickly and easier than you think. So that way,

0:14:07.520 --> 0:14:09.600
<v Speaker 8>you know you could become a homeowner in less than

0:14:09.600 --> 0:14:12.800
<v Speaker 8>six months or or or even sooner than that. All right, guys,

0:14:12.920 --> 0:14:15.840
<v Speaker 8>So the first thing is you gotta check your credit. Right,

0:14:15.880 --> 0:14:17.679
<v Speaker 8>you're gonna you're gonna you're trying to buy a house.

0:14:18.080 --> 0:14:21.280
<v Speaker 8>You're trying to uh, you know, whether it's a multi family,

0:14:21.320 --> 0:14:23.480
<v Speaker 8>whether the case is you gonna live in one, doesn't

0:14:23.520 --> 0:14:25.840
<v Speaker 8>really matter, right I think where what a lot of

0:14:25.880 --> 0:14:28.640
<v Speaker 8>people forget to do is check their credit before they

0:14:28.640 --> 0:14:32.120
<v Speaker 8>apply with Matt, before they apply with Kevin. And what

0:14:32.160 --> 0:14:34.080
<v Speaker 8>you need to do is you need to be able

0:14:34.080 --> 0:14:36.080
<v Speaker 8>to know what's on your credit report person, guess what

0:14:36.400 --> 0:14:39.440
<v Speaker 8>They're gonna ask you, hey, what is this? And if

0:14:39.440 --> 0:14:41.960
<v Speaker 8>you say I don't know, it's like, come on, Like

0:14:42.000 --> 0:14:45.280
<v Speaker 8>how serious are you with your credit? If you're applying

0:14:45.320 --> 0:14:48.160
<v Speaker 8>for a three hundred thousand dollars mortgage, you're five hundred

0:14:48.160 --> 0:14:50.720
<v Speaker 8>thousand dollars mortgage and you don't even you have to

0:14:50.840 --> 0:14:52.720
<v Speaker 8>check your credit in six months? Seven months, you know

0:14:52.760 --> 0:14:54.920
<v Speaker 8>what I mean? So you have to make sure you

0:14:55.040 --> 0:14:57.680
<v Speaker 8>check your credit report. I would say every month, right,

0:14:57.760 --> 0:14:59.960
<v Speaker 8>and at a bare minimum. But if you're gonna app

0:15:00.200 --> 0:15:02.360
<v Speaker 8>with Matt, check it every week, check it every day.

0:15:02.440 --> 0:15:03.720
<v Speaker 8>Like it's one of those things I wake up in

0:15:03.760 --> 0:15:06.120
<v Speaker 8>the morning, I'm checking my credit first thing, you know

0:15:06.160 --> 0:15:07.880
<v Speaker 8>what I mean. So you want to check your credit

0:15:07.880 --> 0:15:10.480
<v Speaker 8>report because you have to know what's on there. Am

0:15:10.520 --> 0:15:13.400
<v Speaker 8>I own time? Am I late? What's going on? What's

0:15:13.440 --> 0:15:15.120
<v Speaker 8>the deal with my credit? Because, like I said, when

0:15:15.160 --> 0:15:18.760
<v Speaker 8>Matt runs your credit report and he asks you, hey,

0:15:18.760 --> 0:15:21.400
<v Speaker 8>what's this bill? What's that bill? Don't you think it's

0:15:21.400 --> 0:15:23.880
<v Speaker 8>a little bit better to have a little bit of

0:15:23.920 --> 0:15:27.360
<v Speaker 8>information for him for when he runs your credit or

0:15:27.720 --> 0:15:29.840
<v Speaker 8>he might not. You might go out and say, hey, Matt, listen,

0:15:29.880 --> 0:15:31.800
<v Speaker 8>don't run my credit yet I have these things on here,

0:15:32.080 --> 0:15:37.320
<v Speaker 8>so let's save that inquiry, right. So the biggest thing

0:15:37.440 --> 0:15:40.400
<v Speaker 8>is is credit data. Credit data is more important than

0:15:40.440 --> 0:15:44.200
<v Speaker 8>any credit score, right because credit data is what drives

0:15:44.200 --> 0:15:46.320
<v Speaker 8>the credit score. So you could have a seven to

0:15:46.320 --> 0:15:49.440
<v Speaker 8>fifty credit score with a repossession and a charge off, right,

0:15:49.680 --> 0:15:51.840
<v Speaker 8>and you can have a six fifty credit score with

0:15:51.960 --> 0:15:55.480
<v Speaker 8>no lay payments. So these are the five categories. Usually

0:15:55.520 --> 0:15:59.280
<v Speaker 8>see people breaking down in percentages thirty five percent, thirty percent,

0:15:59.560 --> 0:16:01.920
<v Speaker 8>you know, fifteen, ten and ten. But when you look

0:16:01.960 --> 0:16:04.480
<v Speaker 8>at how many points, right, your credit score ranges from

0:16:04.480 --> 0:16:08.200
<v Speaker 8>three hundred to eight fifty. Payment history alone one hundred

0:16:08.240 --> 0:16:12.040
<v Speaker 8>and ninety two point five points. The data is payment history.

0:16:12.160 --> 0:16:15.240
<v Speaker 8>Your data is what drives the credit score. So if

0:16:15.280 --> 0:16:18.000
<v Speaker 8>you're late one time, two times, three times on multiple

0:16:18.000 --> 0:16:20.640
<v Speaker 8>credit cards, it'll drop your score. Like I had a

0:16:20.640 --> 0:16:23.760
<v Speaker 8>client today they were late. I called one of my

0:16:23.760 --> 0:16:25.200
<v Speaker 8>clients today, I said, hey, listen, you were late on

0:16:25.240 --> 0:16:28.120
<v Speaker 8>your Capital one card, and it dropped this credit score

0:16:28.240 --> 0:16:31.320
<v Speaker 8>sixty points. His monthly payment was fifteen dollars a month.

0:16:31.960 --> 0:16:35.520
<v Speaker 8>Fifteen dollars a month dropped his credit score sixty dollars.

0:16:35.880 --> 0:16:37.720
<v Speaker 8>Do whatever you can, guys, to have your stuff on

0:16:37.760 --> 0:16:40.120
<v Speaker 8>all the pay It's the most important thing you can

0:16:40.160 --> 0:16:42.520
<v Speaker 8>do with your credit, especially if you're trying to get

0:16:42.520 --> 0:16:45.600
<v Speaker 8>a mortgage. Debt utilization one hundred and sixty five points.

0:16:45.800 --> 0:16:48.440
<v Speaker 8>Your cards are maxed out, Guess what, guys, your score

0:16:48.600 --> 0:16:49.560
<v Speaker 8>is gonna tank.

0:16:49.960 --> 0:16:50.120
<v Speaker 2>Right.

0:16:50.320 --> 0:16:52.280
<v Speaker 8>This was one of my problems a few years ago.

0:16:52.520 --> 0:16:54.680
<v Speaker 8>I didn't really have anything negative, but all my credit

0:16:54.720 --> 0:16:57.080
<v Speaker 8>cards were maxed out. So that can easily take you

0:16:57.160 --> 0:17:00.800
<v Speaker 8>from sevens to the fives very very quick. All right,

0:17:01.160 --> 0:17:03.920
<v Speaker 8>time and file eighty two point five points. This is

0:17:03.960 --> 0:17:06.760
<v Speaker 8>pretty much why people buy trade lines, or why people

0:17:06.840 --> 0:17:09.840
<v Speaker 8>get put on as authorized users is because of their history.

0:17:09.960 --> 0:17:13.119
<v Speaker 8>It adds eighty two point five points. All right, Credit

0:17:13.160 --> 0:17:17.159
<v Speaker 8>mix fifty five points, pretty much easiest category. You have

0:17:17.200 --> 0:17:18.800
<v Speaker 8>a mortgage, you have an all the loan, and a

0:17:18.800 --> 0:17:21.080
<v Speaker 8>credit card, you're gonna get all fifty five points right,

0:17:21.320 --> 0:17:23.760
<v Speaker 8>and inquiries of fifty five points so you even notice.

0:17:23.760 --> 0:17:25.119
<v Speaker 8>I'm sure and Matt and Kevin have heard us all

0:17:25.160 --> 0:17:27.360
<v Speaker 8>the time. Man, don't roll my credit. I don't want

0:17:27.359 --> 0:17:29.640
<v Speaker 8>my score to drop. But then you have like lay

0:17:29.680 --> 0:17:33.440
<v Speaker 8>payments and collections, those affect your score more than an inquiry.

0:17:33.640 --> 0:17:36.199
<v Speaker 8>So people are always so scared about inquiries. And the

0:17:36.240 --> 0:17:38.399
<v Speaker 8>most important thing you have to understand about inquiries is

0:17:38.640 --> 0:17:43.080
<v Speaker 8>they only affect you fifty five points, which is ten percent.

0:17:43.359 --> 0:17:46.439
<v Speaker 8>But any mortgage inquiries, usually done within the thirty to

0:17:46.520 --> 0:17:49.640
<v Speaker 8>forty five day period, only count as one. So if

0:17:49.680 --> 0:17:52.160
<v Speaker 8>you got your mortgage, your credit report ran by four

0:17:52.160 --> 0:17:54.960
<v Speaker 8>different mortgage companies, it's not going to be four different

0:17:54.960 --> 0:17:57.399
<v Speaker 8>inquiries if done within the thirty to forty five day period,

0:17:57.440 --> 0:18:00.439
<v Speaker 8>all right, So don't be don't get so when it

0:18:00.440 --> 0:18:02.080
<v Speaker 8>comes to increase. It tricks for me out how people

0:18:02.080 --> 0:18:03.920
<v Speaker 8>are more worried about inqureies than lay payments.

0:18:04.040 --> 0:18:04.400
<v Speaker 2>All right.

0:18:05.119 --> 0:18:08.040
<v Speaker 8>So credit karma is another thing. A lot of people

0:18:08.840 --> 0:18:11.560
<v Speaker 8>check credit carm every single day, not saying anything's wrong

0:18:11.600 --> 0:18:13.440
<v Speaker 8>with it, but just don't use it as a source

0:18:13.480 --> 0:18:15.760
<v Speaker 8>when it comes to getting a mortgage, all right, because

0:18:15.760 --> 0:18:18.399
<v Speaker 8>when Matt checks your credit, he's not going to be

0:18:18.440 --> 0:18:21.520
<v Speaker 8>going off of credit karma. Credit karma only shows two

0:18:21.520 --> 0:18:25.280
<v Speaker 8>credit reports, doesn't show all three, okay, so it doesn't

0:18:25.280 --> 0:18:27.880
<v Speaker 8>provide experience. So you might tell Matt, hey, I got

0:18:27.920 --> 0:18:31.560
<v Speaker 8>a six 't eighty on the Equifax on TransUnion, but

0:18:31.600 --> 0:18:33.880
<v Speaker 8>guess what happens there's that collection or charge off. That's

0:18:33.880 --> 0:18:37.800
<v Speaker 8>an experience, and you think you're good, the reporting is inaccurate.

0:18:38.520 --> 0:18:41.120
<v Speaker 8>Our clients have a preferred credit monitor that we use.

0:18:41.200 --> 0:18:43.880
<v Speaker 8>We like the Identity IQ only because it's cheap. All right,

0:18:43.960 --> 0:18:47.720
<v Speaker 8>it does provide all three and you can pretty much

0:18:47.720 --> 0:18:49.840
<v Speaker 8>go with my FI go, you can go with experience.

0:18:50.119 --> 0:18:53.600
<v Speaker 8>You know, something that provides all three credit bureaus is

0:18:53.600 --> 0:18:55.920
<v Speaker 8>what you want because when Matt runs your credit, you

0:18:55.960 --> 0:18:58.160
<v Speaker 8>want to be able to explain every single line item

0:18:58.160 --> 0:19:01.280
<v Speaker 8>that's on your credit report. Okay, The next thing is

0:19:01.280 --> 0:19:03.320
<v Speaker 8>is that when it comes to your credit, right, and

0:19:03.359 --> 0:19:05.639
<v Speaker 8>when it comes to buying the more getting approoved for

0:19:05.680 --> 0:19:09.040
<v Speaker 8>a mortgage. One of the biggest things that we see

0:19:09.040 --> 0:19:12.639
<v Speaker 8>besides maxed out credit cards is lack of credit or

0:19:12.760 --> 0:19:13.919
<v Speaker 8>no credit history.

0:19:14.000 --> 0:19:14.160
<v Speaker 2>Right.

0:19:14.480 --> 0:19:16.440
<v Speaker 8>We deal with a lot of celebrities and a lot

0:19:16.440 --> 0:19:18.280
<v Speaker 8>of people that deal with cash, Like I don't want

0:19:18.280 --> 0:19:19.920
<v Speaker 8>to use that I got cash, you know, I could

0:19:20.040 --> 0:19:23.160
<v Speaker 8>buy that card full. Well, guess what are you gonna

0:19:23.160 --> 0:19:25.800
<v Speaker 8>buy a million dollar property housing full? I mean you shouldn't.

0:19:25.840 --> 0:19:28.520
<v Speaker 8>If you can, you still shouldn't, right use use the

0:19:28.600 --> 0:19:31.280
<v Speaker 8>mortgage to leverage it. So these are some credit cards

0:19:31.359 --> 0:19:33.840
<v Speaker 8>right here that can help you with building credit and

0:19:33.880 --> 0:19:37.320
<v Speaker 8>typically with no inquiries or only one inquiry per bureau.

0:19:37.440 --> 0:19:40.119
<v Speaker 8>Right so you have self lender. Self lender is one

0:19:40.119 --> 0:19:42.640
<v Speaker 8>of the easiest ways to build credit. It's a savings

0:19:42.640 --> 0:19:46.360
<v Speaker 8>account that reports to your credit report. So you pay

0:19:46.400 --> 0:19:48.760
<v Speaker 8>like twenty five dollars a month. Boom, they reported paying

0:19:48.960 --> 0:19:51.760
<v Speaker 8>a credit card to your credit report. Pedal p E

0:19:51.920 --> 0:19:55.199
<v Speaker 8>T a l Pedal credit card. They're one of a

0:19:55.240 --> 0:19:57.760
<v Speaker 8>new credit card that just came out. They check experience,

0:19:57.880 --> 0:20:00.439
<v Speaker 8>they do a pre qualification, they approve move up to

0:20:00.520 --> 0:20:02.399
<v Speaker 8>ten thousand dollars credit card, and you can use that

0:20:02.440 --> 0:20:06.440
<v Speaker 8>credit card anywhere another one. Everybody's pretty familiar with Capital One.

0:20:06.680 --> 0:20:08.639
<v Speaker 8>They will prequalify you and let you know if you

0:20:08.960 --> 0:20:11.680
<v Speaker 8>are pre approved for a credit card. Any local credit

0:20:11.760 --> 0:20:14.359
<v Speaker 8>union is typically good. You know you have other ones

0:20:14.400 --> 0:20:18.960
<v Speaker 8>like DCU, Navy, Federal Pentagon, Federal Credit Union. Credit unions

0:20:19.000 --> 0:20:22.320
<v Speaker 8>are a really good place to build credit. Tradelines when

0:20:22.320 --> 0:20:24.919
<v Speaker 8>it comes to mortgages, don't hold as much weight. So

0:20:25.000 --> 0:20:27.200
<v Speaker 8>I would say when it comes to mortgages, I don't

0:20:27.200 --> 0:20:29.600
<v Speaker 8>suggest to you buying a tradeline. Try to do it

0:20:29.640 --> 0:20:32.000
<v Speaker 8>on your own or have a family member add you

0:20:32.040 --> 0:20:36.440
<v Speaker 8>as an authorized user without a trade line. Okay, because remember,

0:20:36.680 --> 0:20:41.120
<v Speaker 8>building credit isn't is more important than what you think,

0:20:41.400 --> 0:20:44.240
<v Speaker 8>because you could have bad credit and still get to

0:20:44.320 --> 0:20:46.280
<v Speaker 8>prove for a mortgage, but if you have no credit,

0:20:46.480 --> 0:20:48.560
<v Speaker 8>there's no chance. And one of the most important things

0:20:48.600 --> 0:20:51.720
<v Speaker 8>to understand about building credit is it takes six months

0:20:51.720 --> 0:20:55.679
<v Speaker 8>for a tradeline to be reporting in order to generate

0:20:55.680 --> 0:20:57.840
<v Speaker 8>a fightcal score. So let's say if you're brand new,

0:20:57.880 --> 0:20:59.879
<v Speaker 8>fresh today, you have nothing on your credit report and

0:21:00.119 --> 0:21:02.680
<v Speaker 8>add a credit card. It is typically gonna take six

0:21:02.760 --> 0:21:06.359
<v Speaker 8>months for a credit card reporting every single month in

0:21:06.480 --> 0:21:08.760
<v Speaker 8>order for that fight go score to really be generated.

0:21:09.000 --> 0:21:11.720
<v Speaker 8>All right, current credit cards one of the things that

0:21:11.760 --> 0:21:13.639
<v Speaker 8>we see with a lot of clients, Like I said before,

0:21:14.119 --> 0:21:16.800
<v Speaker 8>max style cards, don't don't try to just pay your

0:21:16.800 --> 0:21:19.640
<v Speaker 8>credit cards down to thirty forty percent when it comes

0:21:19.680 --> 0:21:21.400
<v Speaker 8>to a mortgage. Listen, if you're gonna pay it down

0:21:21.400 --> 0:21:23.520
<v Speaker 8>as much as you can pay it down, it's just

0:21:23.560 --> 0:21:26.520
<v Speaker 8>gonna increase your borrowing power, That's pretty much what it's

0:21:26.560 --> 0:21:28.800
<v Speaker 8>gonna do. It's gonna eliminate those monthly payments that you

0:21:28.840 --> 0:21:31.640
<v Speaker 8>have on the credit cards and things like that. So

0:21:31.760 --> 0:21:33.919
<v Speaker 8>pay it down as much as you can. See if

0:21:33.920 --> 0:21:37.800
<v Speaker 8>you're eligible for a limit increase without an inquiry, because

0:21:37.840 --> 0:21:40.520
<v Speaker 8>then that's also gonna raise your credit score. So right now,

0:21:40.600 --> 0:21:43.960
<v Speaker 8>your goal with getting the mortgage is lowering your credit score,

0:21:44.680 --> 0:21:47.720
<v Speaker 8>I mean lowering your debt, increasing your credit score, and

0:21:47.920 --> 0:21:51.560
<v Speaker 8>and by paying down your debt and increasing your credit limits,

0:21:51.680 --> 0:21:54.480
<v Speaker 8>it's gonna do just that, all right. If they're gonna say, hey,

0:21:54.480 --> 0:21:56.359
<v Speaker 8>we're gonna run your credit for the increy for the

0:21:56.520 --> 0:21:59.280
<v Speaker 8>credit limit increase, tell them not to do it, because

0:21:59.359 --> 0:22:01.879
<v Speaker 8>you do want to try to limit any inquiries up

0:22:01.960 --> 0:22:04.240
<v Speaker 8>until the point of view get an approved for a mortgage, Okay,

0:22:04.960 --> 0:22:07.360
<v Speaker 8>and then also do not use your credit cards at

0:22:07.359 --> 0:22:09.040
<v Speaker 8>all if you know you're going for a mortgage. So

0:22:09.080 --> 0:22:11.000
<v Speaker 8>if you know you're going for a mortgage, don't go

0:22:11.040 --> 0:22:13.679
<v Speaker 8>to you know, don't mean, don't meet eyl down in Miami,

0:22:13.680 --> 0:22:15.480
<v Speaker 8>and now max all your credit cards out, you know

0:22:15.520 --> 0:22:17.679
<v Speaker 8>what I mean. The next thing you know your your

0:22:17.760 --> 0:22:20.399
<v Speaker 8>your credit score is going to drop you know a

0:22:20.440 --> 0:22:22.680
<v Speaker 8>lot of points, right, and guess what you're gonna have

0:22:22.720 --> 0:22:25.520
<v Speaker 8>to wait until those credit cards are paid down or

0:22:25.720 --> 0:22:28.080
<v Speaker 8>do a rapper rescore in order for that score to

0:22:28.320 --> 0:22:31.320
<v Speaker 8>get back up. All right, So this is another biggest

0:22:31.320 --> 0:22:33.040
<v Speaker 8>thing that we see. I know, MAP posts something about

0:22:33.040 --> 0:22:35.320
<v Speaker 8>an income based rate. This is where you guys can

0:22:35.359 --> 0:22:38.840
<v Speaker 8>go right now. Student loans are and for bearans. Student

0:22:38.880 --> 0:22:41.119
<v Speaker 8>loans aren't for barons. You can go to student loans

0:22:41.160 --> 0:22:44.240
<v Speaker 8>dot gov and consolidate or refinance your student loans that

0:22:44.280 --> 0:22:47.360
<v Speaker 8>are in collections into a new loan even though they're

0:22:47.359 --> 0:22:50.200
<v Speaker 8>not collecting on it. If your student loans are negative,

0:22:50.240 --> 0:22:52.560
<v Speaker 8>it is still affecting your credit. You can go to

0:22:52.600 --> 0:22:56.240
<v Speaker 8>this website consolidate them or refinance them for free. If

0:22:56.240 --> 0:22:59.080
<v Speaker 8>you're you're If you're in default, you know you do

0:22:59.160 --> 0:23:01.840
<v Speaker 8>have to do a rehabilityation program for about nine months.

0:23:02.080 --> 0:23:04.679
<v Speaker 8>All right now, I didn't want to just touch on

0:23:04.720 --> 0:23:06.679
<v Speaker 8>this right quick because a lot of people have to

0:23:06.760 --> 0:23:10.439
<v Speaker 8>understand that when it comes to business credit, it doesn't

0:23:10.480 --> 0:23:13.359
<v Speaker 8>report on your personal credit. Right so remember everything that

0:23:13.400 --> 0:23:15.480
<v Speaker 8>I was saying about maxing out your credit cards don't

0:23:15.520 --> 0:23:18.280
<v Speaker 8>apply for anything. Whatever the case is. If you have

0:23:18.400 --> 0:23:21.400
<v Speaker 8>business credit available, you can max it out all you want,

0:23:21.760 --> 0:23:24.280
<v Speaker 8>it's not going to show up. So my problem when

0:23:24.320 --> 0:23:26.919
<v Speaker 8>I bought my house was I didn't have any business credit,

0:23:27.160 --> 0:23:29.480
<v Speaker 8>so I really couldn't use any credit cards. You couldn't

0:23:29.520 --> 0:23:31.879
<v Speaker 8>use any money. But now if you're using your business

0:23:31.960 --> 0:23:34.359
<v Speaker 8>credit cards, you can still do what you gotta do

0:23:34.400 --> 0:23:36.719
<v Speaker 8>on a daily basis, and in a sense, you're not

0:23:36.840 --> 0:23:40.280
<v Speaker 8>hiding the money, You're just using it on a different means.

0:23:40.359 --> 0:23:40.520
<v Speaker 2>Right.

0:23:40.880 --> 0:23:42.440
<v Speaker 8>And the other thing that we've been telling a lot

0:23:42.440 --> 0:23:44.359
<v Speaker 8>of our clients to do is is if you have

0:23:44.400 --> 0:23:46.760
<v Speaker 8>a car right now on your personal credit and you

0:23:46.800 --> 0:23:50.360
<v Speaker 8>have an LLC, trade that car in, get it off

0:23:50.400 --> 0:23:53.720
<v Speaker 8>of your personal credit, and get a car under your

0:23:53.760 --> 0:23:56.240
<v Speaker 8>business because now that car is also not going to

0:23:56.240 --> 0:23:59.280
<v Speaker 8>show up on your personal credit, once again increasing your

0:23:59.320 --> 0:24:02.159
<v Speaker 8>borrowing power. So check it out. Imagine now you go

0:24:02.200 --> 0:24:05.800
<v Speaker 8>to Matt, zero credit card debt, no car payments, you

0:24:05.800 --> 0:24:07.920
<v Speaker 8>show up your income. He's gonna be like, you know what,

0:24:08.119 --> 0:24:10.639
<v Speaker 8>you can now get approved of the maximum amount because

0:24:10.640 --> 0:24:13.359
<v Speaker 8>you have no car payment, you have no credit card debt,

0:24:13.480 --> 0:24:15.720
<v Speaker 8>you have nothing. So that's gonna be the difference of

0:24:15.760 --> 0:24:18.280
<v Speaker 8>you getting approved maybe from two hundred two fifty three

0:24:18.400 --> 0:24:21.199
<v Speaker 8>hundred to five hundred six hundred. And if you have

0:24:21.280 --> 0:24:24.080
<v Speaker 8>a business, that's where you want everything to show because

0:24:24.080 --> 0:24:26.399
<v Speaker 8>guess what, when Matt runs your credit, he ain't checking

0:24:26.440 --> 0:24:28.960
<v Speaker 8>your business credit. When it comes to a mortgage, he's

0:24:29.040 --> 0:24:31.600
<v Speaker 8>checking your personal credit. So you can have six, seven,

0:24:31.680 --> 0:24:34.760
<v Speaker 8>eight cars in your business. Credit doesn't matter, okay, So

0:24:34.920 --> 0:24:39.159
<v Speaker 8>definitely definitely check that out because you want to make

0:24:39.160 --> 0:24:41.879
<v Speaker 8>sure that you're not putting yourself in a bad position.

0:24:42.160 --> 0:24:44.520
<v Speaker 8>I mean, and if you're looking to get help with

0:24:44.560 --> 0:24:47.199
<v Speaker 8>deleting anything negative, that's what we do. That's what we

0:24:47.280 --> 0:24:50.440
<v Speaker 8>help out with. And we only charge you if stuff

0:24:50.480 --> 0:24:53.280
<v Speaker 8>comes off because we listen, we get it. Time is money,

0:24:53.400 --> 0:24:55.159
<v Speaker 8>So if you don't have the time to deal with that,

0:24:55.160 --> 0:24:57.560
<v Speaker 8>you gotta do get lay payments off, collections, those things

0:24:57.600 --> 0:24:59.640
<v Speaker 8>like that, we can help out with that. You can

0:24:59.680 --> 0:25:03.080
<v Speaker 8>also dispute things on your own. You can obviously call

0:25:03.119 --> 0:25:05.760
<v Speaker 8>the credit bureaus up. You can call your creditors and

0:25:06.280 --> 0:25:08.479
<v Speaker 8>asks for forgiveness when it comes to late payments. When

0:25:08.520 --> 0:25:11.680
<v Speaker 8>it comes to certain collections, some creditors, I mean, some

0:25:11.720 --> 0:25:14.560
<v Speaker 8>collection agencies will remove stuff if you pay, if you

0:25:14.600 --> 0:25:19.919
<v Speaker 8>pay them. There's Portfolio Recovery Associates, Midland Funding, LVNV funding.

0:25:19.920 --> 0:25:22.400
<v Speaker 8>I'm sure Matt knows a lot of these collection agencies

0:25:22.560 --> 0:25:25.960
<v Speaker 8>and Kevin, they actually will remove it. Not every single

0:25:26.000 --> 0:25:29.200
<v Speaker 8>collection agency will remove a collection just because you pay them.

0:25:29.359 --> 0:25:32.439
<v Speaker 8>So what happens you pay ten thousand dollars collections, your

0:25:32.480 --> 0:25:36.160
<v Speaker 8>score is not gonna go anywhere. Okay, and that's it,

0:25:36.400 --> 0:25:38.400
<v Speaker 8>you know what I mean. You pretty much just want

0:25:38.400 --> 0:25:41.600
<v Speaker 8>to put yourself in a position to where you are

0:25:41.920 --> 0:25:45.679
<v Speaker 8>doing everything possible to get the best interest rate and

0:25:45.760 --> 0:25:48.280
<v Speaker 8>also have the highest credit score. Obviously, I'm gonna be

0:25:48.320 --> 0:25:50.879
<v Speaker 8>on here for Q and A. But like I said before,

0:25:51.040 --> 0:25:52.960
<v Speaker 8>if you guys need me, hit me up on Instagram,

0:25:53.000 --> 0:25:54.879
<v Speaker 8>schedule a call. My team would love to help you

0:25:54.960 --> 0:25:57.520
<v Speaker 8>out to help you take your credit to the next level.

0:25:58.000 --> 0:25:59.040
<v Speaker 8>And that's my time, guys.

0:26:00.480 --> 0:26:04.800
<v Speaker 2>I appreciate that. Thank you, Thank you, Jose. Jose is

0:26:04.800 --> 0:26:07.280
<v Speaker 2>always on points, So that was a lot of information.

0:26:07.359 --> 0:26:07.520
<v Speaker 8>Man.

0:26:07.560 --> 0:26:11.560
<v Speaker 2>Hopefully you guys took notes. If not, it definitely obviously

0:26:11.560 --> 0:26:13.800
<v Speaker 2>would be saved on YouTube, So go back and use

0:26:13.840 --> 0:26:16.439
<v Speaker 2>that as a reference. Tell you this is gonna be

0:26:16.440 --> 0:26:20.840
<v Speaker 2>a jam packed educational situation. So we'll jump right into

0:26:20.880 --> 0:26:27.600
<v Speaker 2>the next presenter, Kevin, would you like to go? Sure,

0:26:28.119 --> 0:26:28.399
<v Speaker 2>let's go.

0:26:28.600 --> 0:26:29.280
<v Speaker 6>What's wrong?

0:26:29.880 --> 0:26:30.520
<v Speaker 2>Let's do it.

0:26:30.720 --> 0:26:32.159
<v Speaker 5>First of all, I want to say thank you for

0:26:32.200 --> 0:26:35.359
<v Speaker 5>having me. It's an absolute pleasure. Thank you for I

0:26:35.359 --> 0:26:38.000
<v Speaker 5>appreciate it. They don't know how to share this, so

0:26:38.080 --> 0:26:44.639
<v Speaker 5>forgive me. Uh let's see.

0:26:43.800 --> 0:26:46.600
<v Speaker 4>You right at the bomb and just say share screens

0:26:46.680 --> 0:26:47.640
<v Speaker 4>in green probably on.

0:26:47.680 --> 0:26:51.840
<v Speaker 2>Your Yeah, I clicked on that, and a box is

0:26:51.880 --> 0:26:53.960
<v Speaker 2>gonna come up, and then it's probably the top.

0:26:53.920 --> 0:26:59.680
<v Speaker 5>Level asking for system preferences. Forgiving me, guys. I'm sorry,

0:26:59.680 --> 0:27:01.520
<v Speaker 5>you guys of pros at this stuff.

0:27:02.280 --> 0:27:04.840
<v Speaker 2>All right, all right, we all learning technology. That's the

0:27:04.960 --> 0:27:08.639
<v Speaker 2>that's the beauty of the situation. Nobody expert in this stuff,

0:27:08.760 --> 0:27:10.760
<v Speaker 2>Like you know, a lot of us got thrown into

0:27:10.800 --> 0:27:12.720
<v Speaker 2>this once COVID hit, so we still learning how to

0:27:12.720 --> 0:27:16.200
<v Speaker 2>work zoom properly. I don't touch technology at all me personally,

0:27:16.680 --> 0:27:21.680
<v Speaker 2>but uh yeah, but yeah, this this what Kevin is

0:27:21.720 --> 0:27:26.880
<v Speaker 2>about to talk about. It is extremely important because he's

0:27:26.920 --> 0:27:28.680
<v Speaker 2>in a hard money game. Hard money lending.

0:27:28.880 --> 0:27:30.800
<v Speaker 4>I remember when we first heard about it was something

0:27:30.800 --> 0:27:32.439
<v Speaker 4>that we didn't even we weren't familiar with.

0:27:32.440 --> 0:27:35.280
<v Speaker 2>It blew my mind. Actually, when Lord of the Islam

0:27:35.400 --> 0:27:39.120
<v Speaker 2>first told us about hard money, I wasn't even really

0:27:39.359 --> 0:27:42.560
<v Speaker 2>sure what hard money was. And I thought hard money

0:27:42.640 --> 0:27:51.200
<v Speaker 2>was just like a loan shark that I understand that. Yeah,

0:27:51.200 --> 0:27:54.000
<v Speaker 2>there you go, all right, you see it. Awesome, we

0:27:54.640 --> 0:27:56.560
<v Speaker 2>got you, all right, awesome.

0:27:57.320 --> 0:28:01.320
<v Speaker 5>So I kind of you know, just from the text

0:28:01.400 --> 0:28:04.480
<v Speaker 5>and everything that I got, just what the subject matter

0:28:04.640 --> 0:28:09.200
<v Speaker 5>was from my perspective was real estate investing post pandemic, right,

0:28:09.600 --> 0:28:15.359
<v Speaker 5>and how to use non conventional financing to fund and

0:28:15.440 --> 0:28:20.800
<v Speaker 5>finance transactions. So what's coined as hard money is really,

0:28:21.080 --> 0:28:23.480
<v Speaker 5>you know, there's a lot of different ways to look

0:28:23.520 --> 0:28:28.720
<v Speaker 5>at this. It's really it falls under the bridge finance space.

0:28:29.160 --> 0:28:32.480
<v Speaker 5>Bridge loans are typically short term loans twelve to thirty

0:28:32.520 --> 0:28:36.760
<v Speaker 5>six months, depending on if they're bank or non bank,

0:28:36.960 --> 0:28:44.480
<v Speaker 5>meaning a private lender. A private lender could be an institution.

0:28:44.760 --> 0:28:47.160
<v Speaker 5>You have a lot of organizations which are pretty much

0:28:47.680 --> 0:28:51.480
<v Speaker 5>writing paper selling them off in the secondary market, and

0:28:51.600 --> 0:28:54.960
<v Speaker 5>they're securitizing these they're taking pools of loans and they're

0:28:55.000 --> 0:29:00.600
<v Speaker 5>securitizing these loans and basically creating bonds or whatever for

0:29:01.120 --> 0:29:09.520
<v Speaker 5>institutional investors. You also have folks that are really private

0:29:09.680 --> 0:29:13.400
<v Speaker 5>that you're talking about family offices, people that have a

0:29:13.600 --> 0:29:16.520
<v Speaker 5>very very staggering amount of dollars where they're looking to

0:29:16.640 --> 0:29:19.680
<v Speaker 5>just get a return on their money. So ten percent

0:29:19.760 --> 0:29:22.840
<v Speaker 5>for these people, it's a good return. If you're putting

0:29:22.840 --> 0:29:25.360
<v Speaker 5>out fifty million dollars a year and you're earning ten

0:29:25.400 --> 0:29:29.800
<v Speaker 5>percent interest on that money. That's five million dollars. You know, again,

0:29:30.120 --> 0:29:34.680
<v Speaker 5>it really these are just different facets of bridge finance.

0:29:34.920 --> 0:29:38.360
<v Speaker 5>So we'll talk about we'll label it hard money for

0:29:38.400 --> 0:29:43.480
<v Speaker 5>the moment. What I really express to people is, you know,

0:29:43.520 --> 0:29:47.280
<v Speaker 5>what's the goal. What are people trying to accomplish? Obviously,

0:29:47.280 --> 0:29:50.520
<v Speaker 5>if you're looking to buy an owner occupied property, I'm

0:29:50.560 --> 0:29:53.000
<v Speaker 5>not the guy for you, that's that's the goat over

0:29:53.080 --> 0:29:55.760
<v Speaker 5>there to my right on the screen, MG, the mortgage guy.

0:29:56.200 --> 0:30:00.000
<v Speaker 5>All right, But if you're looking to get into an

0:30:00.000 --> 0:30:04.280
<v Speaker 5>investment properties, and I know Matt does agency type of

0:30:04.320 --> 0:30:09.000
<v Speaker 5>deals Fanny Fanny May, et cetera, that you can, you know,

0:30:09.440 --> 0:30:11.800
<v Speaker 5>you can invest investment properties and use some of the

0:30:11.840 --> 0:30:16.240
<v Speaker 5>income on whatever you're purchasing, multi family, et cetera to

0:30:16.360 --> 0:30:18.840
<v Speaker 5>make the deal work. So, but you know, that's something

0:30:18.880 --> 0:30:22.240
<v Speaker 5>for Matt to talk about. I asked people, what are

0:30:22.280 --> 0:30:24.440
<v Speaker 5>you trying to do? Are you looking to acquire real estate,

0:30:24.480 --> 0:30:27.320
<v Speaker 5>renovate the property and sell it. Are you looking to

0:30:27.600 --> 0:30:33.880
<v Speaker 5>you know, acquire, renovate and hold. Are people looking to

0:30:33.920 --> 0:30:38.600
<v Speaker 5>develop in the Northeast Jersey, New York? A lot of

0:30:38.640 --> 0:30:41.800
<v Speaker 5>folks are not really into land banking, but when you

0:30:41.920 --> 0:30:46.160
<v Speaker 5>go down south and more to the west, whether Texas, Florida,

0:30:46.360 --> 0:30:49.560
<v Speaker 5>land banking is a very big thing. They look at us.

0:30:50.120 --> 0:30:52.200
<v Speaker 5>Investors in those areas look at us and they're like,

0:30:52.360 --> 0:30:53.760
<v Speaker 5>I don't know how you deal with the you know,

0:30:53.800 --> 0:30:56.600
<v Speaker 5>the headaches that come along with investing in new places

0:30:56.600 --> 0:30:59.120
<v Speaker 5>like New York and New Jersey. So you know, you

0:30:59.200 --> 0:31:02.560
<v Speaker 5>have you have land banking and you can do You

0:31:02.560 --> 0:31:04.800
<v Speaker 5>could do a lot of different things with land. Obviously,

0:31:04.840 --> 0:31:08.400
<v Speaker 5>you could develop the land, you can hold the land.

0:31:08.960 --> 0:31:10.120
<v Speaker 2>What's land banking?

0:31:10.840 --> 0:31:15.560
<v Speaker 5>Land banking is really just buying land to hold from

0:31:15.600 --> 0:31:18.400
<v Speaker 5>a from a tax perspective, you know, it's it's a

0:31:18.440 --> 0:31:21.440
<v Speaker 5>depreciating asset, so it's a write off for many people.

0:31:23.480 --> 0:31:25.680
<v Speaker 5>I remember, you know this is back in like oh wait,

0:31:25.760 --> 0:31:28.960
<v Speaker 5>I raised money for a fund out of Texas Austin, Texas.

0:31:29.960 --> 0:31:34.120
<v Speaker 5>There were a bunch of wildcatters oil guys, and they

0:31:34.160 --> 0:31:36.760
<v Speaker 5>structured a real estate fund. They wanted me to raise

0:31:36.760 --> 0:31:39.040
<v Speaker 5>some capital alongside them. I did. We did like a

0:31:39.040 --> 0:31:42.000
<v Speaker 5>forty million dollar raise and essentially all they did was

0:31:42.000 --> 0:31:46.240
<v Speaker 5>buy land to offset the profits that they made on

0:31:46.320 --> 0:31:51.120
<v Speaker 5>the oil side, and they just held the land. It

0:31:51.160 --> 0:31:55.600
<v Speaker 5>wasn't necessarily something that was being developed. Sometimes you can

0:31:55.720 --> 0:32:00.280
<v Speaker 5>buy the land, create infrastructure meaning plans permits, and you

0:32:00.280 --> 0:32:02.440
<v Speaker 5>can sell that to a developer. That's something a lot

0:32:02.440 --> 0:32:05.920
<v Speaker 5>of people don't even realize. Most people think when you

0:32:05.920 --> 0:32:08.400
<v Speaker 5>get into land that you have to take it from

0:32:08.440 --> 0:32:10.760
<v Speaker 5>point A to Z, and that is not the case.

0:32:11.320 --> 0:32:16.440
<v Speaker 5>You can profit by buying the land, getting plans, permits,

0:32:16.440 --> 0:32:18.800
<v Speaker 5>et cetera, and selling it off to a developer who

0:32:18.840 --> 0:32:21.720
<v Speaker 5>will develop the property. I'm doing a transaction like that

0:32:21.880 --> 0:32:25.400
<v Speaker 5>right now. I'm actually doing a few and or you

0:32:25.400 --> 0:32:29.520
<v Speaker 5>could develop the property, you know, whether it's residential, commercial

0:32:29.840 --> 0:32:33.320
<v Speaker 5>is I believe somebody put up a post you know,

0:32:33.320 --> 0:32:36.040
<v Speaker 5>they're not making any more land or buy land, and

0:32:36.080 --> 0:32:39.160
<v Speaker 5>it's so true. So you know, these are just some

0:32:39.200 --> 0:32:40.920
<v Speaker 5>of the ask classes.

0:32:41.960 --> 0:32:44.480
<v Speaker 2>The post was don't wait to buy land by land

0:32:44.520 --> 0:32:48.240
<v Speaker 2>and wait, buy land and wait. Yeah, So a quick

0:32:48.280 --> 0:32:50.040
<v Speaker 2>question before I'm gona let you get back to your presentation.

0:32:50.560 --> 0:32:52.120
<v Speaker 2>Can you use hard money to buy land?

0:32:52.360 --> 0:32:58.000
<v Speaker 5>Yes, you can, absolutely, it's probably about that, yeah, no,

0:32:58.080 --> 0:33:04.320
<v Speaker 5>absolutely so. Essentially, typically when an investor comes to buy

0:33:04.840 --> 0:33:07.760
<v Speaker 5>a piece of land, it's with the intentions of developing

0:33:07.880 --> 0:33:12.240
<v Speaker 5>or building out that land piece, whether it's for residential

0:33:12.280 --> 0:33:17.880
<v Speaker 5>development and or commercial development. So folks who are using

0:33:17.960 --> 0:33:21.640
<v Speaker 5>hard money are you know, they have a plan in place.

0:33:21.680 --> 0:33:24.520
<v Speaker 5>They're not necessarily land banking. And I'm going to tell

0:33:24.520 --> 0:33:27.840
<v Speaker 5>you why not with hard money because hard money or

0:33:27.840 --> 0:33:31.720
<v Speaker 5>bridge lending again is a twelve to thirty six month loan,

0:33:32.440 --> 0:33:35.880
<v Speaker 5>and you know it's not the cheapest money in the world.

0:33:37.000 --> 0:33:39.520
<v Speaker 5>You want to be able to enter and exit at

0:33:39.560 --> 0:33:42.200
<v Speaker 5>a certain point. Your lender will want you to do that.

0:33:42.920 --> 0:33:47.520
<v Speaker 5>So we're typically dealing with people who are going to

0:33:47.560 --> 0:33:50.400
<v Speaker 5>take the property from a to Z and or a

0:33:50.600 --> 0:33:53.719
<v Speaker 5>to let's say midway. They're going to again create the

0:33:53.720 --> 0:33:56.880
<v Speaker 5>infrastructure for development to sell it off to a developer.

0:33:57.680 --> 0:34:01.760
<v Speaker 5>So we usually lend about sixty five percent loan to

0:34:01.880 --> 0:34:06.560
<v Speaker 5>value on the land, and in terms of we like

0:34:06.600 --> 0:34:09.839
<v Speaker 5>to see about thirty percent cash into a deal like that,

0:34:09.880 --> 0:34:11.920
<v Speaker 5>thirty to thirty five percent because again it's not a

0:34:11.920 --> 0:34:17.360
<v Speaker 5>cash flowing asset. It's there's usually nothing there, but there's

0:34:17.400 --> 0:34:22.360
<v Speaker 5>obviously tons of potential to create whatever you want. With

0:34:22.400 --> 0:34:26.200
<v Speaker 5>the housing crisis and everything that's going on, Look, there's

0:34:26.239 --> 0:34:31.680
<v Speaker 5>not enough housing. There's always room to build. What's happened

0:34:31.719 --> 0:34:35.160
<v Speaker 5>during COVID, you have so many people leaving, you know,

0:34:36.960 --> 0:34:38.880
<v Speaker 5>at least the northeast. You guys are down in Miami

0:34:38.960 --> 0:34:40.920
<v Speaker 5>right now, which is a big, you know, metropolis. It's

0:34:40.960 --> 0:34:46.200
<v Speaker 5>a big metropolitan area. But you have people just leaving

0:34:46.239 --> 0:34:49.880
<v Speaker 5>the big cities, and there's a need for residential housing

0:34:50.200 --> 0:34:53.960
<v Speaker 5>outside of you know, major metropolitan areas. So people going

0:34:54.000 --> 0:34:57.239
<v Speaker 5>to the outskirts maybe an hour hour and a half

0:34:57.360 --> 0:35:00.319
<v Speaker 5>outside of the city. They're buying land, they're they're you know,

0:35:01.200 --> 0:35:05.680
<v Speaker 5>creating infrastructure, and they're building. So it's it's a very

0:35:05.680 --> 0:35:12.000
<v Speaker 5>good investment. Not many people really understand how to go

0:35:12.080 --> 0:35:16.439
<v Speaker 5>about doing it. I want people to do it because again,

0:35:16.640 --> 0:35:21.040
<v Speaker 5>it's something that you can really get into a property

0:35:21.360 --> 0:35:24.640
<v Speaker 5>for a minimal amount of money, just because land is

0:35:24.680 --> 0:35:27.640
<v Speaker 5>a lot cheaper than something that's already stabilized or built

0:35:27.840 --> 0:35:33.120
<v Speaker 5>right and you know, essentially use debt to do whatever it.

0:35:33.200 --> 0:35:36.319
<v Speaker 5>You know, the property allows whether that's residential pieces, and

0:35:36.360 --> 0:35:39.719
<v Speaker 5>you can build out those residential pieces and then refinance

0:35:39.760 --> 0:35:43.320
<v Speaker 5>into more you know, a more conventional loan. Hold those loans.

0:35:43.320 --> 0:35:47.040
<v Speaker 5>It's known as build to rent, and or again you

0:35:47.080 --> 0:35:51.279
<v Speaker 5>can create commercial assets where you're creating cash flow via

0:35:51.520 --> 0:35:55.399
<v Speaker 5>commercial properties, whether that's mixed use strip, modls, et cetera.

0:35:57.960 --> 0:36:00.319
<v Speaker 5>So I always ask folks, you know what, what are

0:36:00.320 --> 0:36:03.880
<v Speaker 5>you trying to accomplish? You know? And that goes it

0:36:04.600 --> 0:36:09.360
<v Speaker 5>goes back to you know what Jose said, I'm basically

0:36:09.400 --> 0:36:12.200
<v Speaker 5>looking at credit. I'm looking at certain things and it's

0:36:12.200 --> 0:36:16.239
<v Speaker 5>actually on the next slide. I'll go down, scroll down

0:36:16.239 --> 0:36:24.160
<v Speaker 5>here if I can. Let's see. So these are some

0:36:24.239 --> 0:36:29.600
<v Speaker 5>of the things that I ask for, and I think any.

0:36:28.760 --> 0:36:29.480
<v Speaker 2>Earners, what's up.

0:36:29.600 --> 0:36:32.040
<v Speaker 9>You ever walk into a small business and everything just

0:36:32.200 --> 0:36:35.400
<v Speaker 9>works like the checkout is fast, the receipts are digital,

0:36:35.920 --> 0:36:38.879
<v Speaker 9>tipping is a breeze, and you're out the door before

0:36:38.920 --> 0:36:43.040
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0:36:43.200 --> 0:36:45.759
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0:36:45.800 --> 0:36:49.040
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0:36:49.080 --> 0:36:51.200
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0:36:51.080 --> 0:36:52.200
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0:36:52.440 --> 0:36:56.239
<v Speaker 9>Square makes it easy for them to take payments, manage inventory,

0:36:56.320 --> 0:37:00.359
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0:37:00.680 --> 0:37:03.279
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0:37:03.360 --> 0:37:06.440
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0:37:06.480 --> 0:37:09.920
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0:37:10.200 --> 0:37:13.200
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<v Speaker 9>pushing your vision forward. This episode is brought to you

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<v Speaker 5>Good hard money lender and or private lender. We'll ask

0:39:21.680 --> 0:39:25.520
<v Speaker 5>you for and it's essentially what's your credit score, what

0:39:25.560 --> 0:39:28.880
<v Speaker 5>does your credit look like? And as Jose stated, you know,

0:39:28.920 --> 0:39:35.759
<v Speaker 5>there's there's a secondary component to credit, right, So a

0:39:35.760 --> 0:39:38.520
<v Speaker 5>lot of people, you know, again, they might have a

0:39:38.600 --> 0:39:40.880
<v Speaker 5>seven to fifty score, but they don't have the trade lines.

0:39:40.920 --> 0:39:43.200
<v Speaker 5>You know, maybe they don't they don't own property, et cetera.

0:39:43.280 --> 0:39:46.319
<v Speaker 5>So those factors kind of come into play with how

0:39:46.400 --> 0:39:48.719
<v Speaker 5>much leverage we're going to extend doesn't mean we won't

0:39:48.800 --> 0:39:53.879
<v Speaker 5>give a part. You know, an individual with not as much,

0:39:54.400 --> 0:39:58.319
<v Speaker 5>How can I say this weight on their credit or yeah,

0:39:58.600 --> 0:40:00.680
<v Speaker 5>let's let's just say that. It's not that we won't

0:40:00.719 --> 0:40:03.360
<v Speaker 5>lend them money, just leverage might be a little bit different.

0:40:03.960 --> 0:40:06.120
<v Speaker 5>So we look at credit, we look at the secondary

0:40:06.880 --> 0:40:11.200
<v Speaker 5>the secondary reporting agencies, whether that's Nexus, Lexis, and then

0:40:11.560 --> 0:40:12.319
<v Speaker 5>there's a ton of them.

0:40:12.400 --> 0:40:12.560
<v Speaker 2>Right.

0:40:15.080 --> 0:40:18.720
<v Speaker 5>One thing that I have to say, I must say

0:40:18.719 --> 0:40:26.880
<v Speaker 5>this on an application. People have to be honest about

0:40:26.920 --> 0:40:30.080
<v Speaker 5>what's going on in their life or what has happened.

0:40:31.120 --> 0:40:34.279
<v Speaker 5>I ask that's like one of the first things I ask,

0:40:34.480 --> 0:40:38.160
<v Speaker 5>have you had any bankruptcies? Have you had any foreclosures?

0:40:39.280 --> 0:40:42.040
<v Speaker 5>Do you have any felonies, any crimes of moral turpitude

0:40:42.160 --> 0:40:45.040
<v Speaker 5>or anything along those lines. And I have people that

0:40:45.280 --> 0:40:47.680
<v Speaker 5>straight up lie, which is, oh, you know, I understand

0:40:47.680 --> 0:40:50.080
<v Speaker 5>people trying to get things done. But what I'm trying

0:40:50.120 --> 0:40:54.880
<v Speaker 5>to do is help people execute. And the way that

0:40:54.920 --> 0:40:59.480
<v Speaker 5>I'm able to execute is by creating a narrative. That's

0:40:59.560 --> 0:41:02.399
<v Speaker 5>part of this skill set in order to get transactions done.

0:41:02.440 --> 0:41:05.920
<v Speaker 5>Is create a narrative around what's happened in the past.

0:41:06.120 --> 0:41:10.080
<v Speaker 5>We cannot judge people on everything that's happened in their past.

0:41:10.360 --> 0:41:14.840
<v Speaker 5>It's just not fair. But I've had individuals who were incarcerated,

0:41:16.600 --> 0:41:20.919
<v Speaker 5>you know, for lengthy periods of time, and they were

0:41:20.960 --> 0:41:23.600
<v Speaker 5>the difference between someone who was away for a long

0:41:23.640 --> 0:41:26.000
<v Speaker 5>time and someone who wasn't away for a long time.

0:41:26.840 --> 0:41:30.279
<v Speaker 5>It was really the honesty. From the financing perspective, we

0:41:30.280 --> 0:41:33.759
<v Speaker 5>were able to get over certain hurdles. I share that

0:41:33.840 --> 0:41:37.160
<v Speaker 5>because it's just so important to be transparent. I'm gonna

0:41:37.200 --> 0:41:41.000
<v Speaker 5>find out anyway. We've been very very Our systems are

0:41:41.080 --> 0:41:44.759
<v Speaker 5>very good in terms of piercing, you know, locked secondaries,

0:41:44.880 --> 0:41:46.799
<v Speaker 5>if you want to call it that. You have you know,

0:41:46.840 --> 0:41:49.000
<v Speaker 5>folks that say, hey, look we're gonna lie, you know,

0:41:49.680 --> 0:41:51.560
<v Speaker 5>don't worry, you won't be able to see this or

0:41:51.600 --> 0:41:53.239
<v Speaker 5>that in the background, you know, in terms of a

0:41:53.320 --> 0:41:57.319
<v Speaker 5>background check. That's not true. We've been very good at

0:41:57.480 --> 0:41:58.920
<v Speaker 5>We're very good at what we do, and we want

0:41:58.960 --> 0:42:00.799
<v Speaker 5>to make sure that the person that lending money to

0:42:01.400 --> 0:42:06.319
<v Speaker 5>has the wherewithal, the character and integrity to not only

0:42:06.360 --> 0:42:09.400
<v Speaker 5>execute the deal but pay us back. That's what this

0:42:09.520 --> 0:42:13.200
<v Speaker 5>is about. This is about you know, putting money out

0:42:13.239 --> 0:42:17.520
<v Speaker 5>and obviously you know, replenishing that capital. So pedigree is

0:42:17.520 --> 0:42:20.719
<v Speaker 5>another big thing. I mean, how many deals have you done?

0:42:21.160 --> 0:42:25.520
<v Speaker 5>You can't expect to take down one hundred you in

0:42:25.560 --> 0:42:29.320
<v Speaker 5>a building and you've never done a deal. So I

0:42:29.800 --> 0:42:32.279
<v Speaker 5>always say, be a little bit pragmatic in what you're

0:42:32.320 --> 0:42:36.680
<v Speaker 5>trying to accomplish. This is not for you know, I'm

0:42:36.719 --> 0:42:41.200
<v Speaker 5>not trying to deter anyone from you know, shooting, I guess,

0:42:41.280 --> 0:42:43.920
<v Speaker 5>you know, raising the bar and going out and trying

0:42:43.960 --> 0:42:47.680
<v Speaker 5>to you know, build their dreams, execute their dreams. But

0:42:47.719 --> 0:42:49.840
<v Speaker 5>you have to be realistic as well. A lender is

0:42:49.880 --> 0:42:52.680
<v Speaker 5>going to you know, be pragmatic in his decision making.

0:42:52.719 --> 0:42:57.360
<v Speaker 5>I don't care who it is. So personal financial statement again,

0:42:57.400 --> 0:43:02.000
<v Speaker 5>what's the liquidity look like? You know, what's the outstanding

0:43:02.040 --> 0:43:04.440
<v Speaker 5>that that you have, What assets do you have? How

0:43:04.480 --> 0:43:06.239
<v Speaker 5>much you know, how much do you have in your

0:43:06.239 --> 0:43:08.680
<v Speaker 5>four oh one K accounts? Iras? These are things that

0:43:08.719 --> 0:43:12.279
<v Speaker 5>we all look at, not necessarily and most of these

0:43:12.280 --> 0:43:15.080
<v Speaker 5>things are stated, right, So I'm not I usually don't

0:43:15.120 --> 0:43:17.000
<v Speaker 5>ask for these things. But it's on a merit of

0:43:17.560 --> 0:43:19.440
<v Speaker 5>It's an on a merit system, you know.

0:43:19.560 --> 0:43:21.759
<v Speaker 2>So that's real quick.

0:43:22.040 --> 0:43:26.760
<v Speaker 10>Sure you and your expertise, as people have developed relationships

0:43:26.880 --> 0:43:29.360
<v Speaker 10>in the hard many space, do you see interest rates

0:43:29.440 --> 0:43:33.840
<v Speaker 10>changing as you developed more properties over time or is

0:43:33.880 --> 0:43:37.520
<v Speaker 10>there a certain standard percentage that is across the board.

0:43:38.000 --> 0:43:41.080
<v Speaker 5>I mean, that's a great question. I come from a

0:43:41.120 --> 0:43:48.440
<v Speaker 5>world where money was sixteen percent and four points when

0:43:48.480 --> 0:43:50.920
<v Speaker 5>I started in this business. That's how much capital the

0:43:50.920 --> 0:43:52.640
<v Speaker 5>cost of capital was, and that was for like a

0:43:52.680 --> 0:43:58.759
<v Speaker 5>cash flowing asset, truly bridge money. Now with institutional investors

0:43:59.440 --> 0:44:03.480
<v Speaker 5>stepping in, Yes, you see a cheaper cost of capital

0:44:03.560 --> 0:44:09.480
<v Speaker 5>on the hard money side. Rates anywhere or advertised teasers

0:44:09.480 --> 0:44:11.439
<v Speaker 5>if you want to call them, anywhere between six point

0:44:11.520 --> 0:44:17.280
<v Speaker 5>nine to nine percent and up. What I see typically,

0:44:19.440 --> 0:44:21.759
<v Speaker 5>let's put it this way. You can ride you can

0:44:21.840 --> 0:44:25.480
<v Speaker 5>ride the subway every day, and a token is a token.

0:44:25.560 --> 0:44:28.759
<v Speaker 5>That's the cost of the token. It doesn't necessarily just

0:44:28.760 --> 0:44:31.839
<v Speaker 5>because you ride the train all the time doesn't mean

0:44:31.880 --> 0:44:33.839
<v Speaker 5>that the MTA gives you a deal.

0:44:33.880 --> 0:44:34.239
<v Speaker 2>Per se.

0:44:34.280 --> 0:44:38.160
<v Speaker 5>There's a there's a return that needs to be given

0:44:38.360 --> 0:44:45.600
<v Speaker 5>to investors. And again, typically anywhere between eight to ten percent.

0:44:45.640 --> 0:44:51.439
<v Speaker 5>So I don't see that, you know, dropping, I think

0:44:51.440 --> 0:44:54.560
<v Speaker 5>that's a fair number anywhere between eight to ten percent

0:44:55.000 --> 0:44:57.279
<v Speaker 5>on a deal in terms of interest rate with a

0:44:57.280 --> 0:45:04.200
<v Speaker 5>few points. So some of the things that you want

0:45:04.239 --> 0:45:06.279
<v Speaker 5>to look for when you're actually looking at a deal,

0:45:06.760 --> 0:45:10.080
<v Speaker 5>this is very important. You obviously want to know your

0:45:10.080 --> 0:45:14.000
<v Speaker 5>purchase price, You want to know the value of your asset.

0:45:14.480 --> 0:45:18.480
<v Speaker 5>Just to get an understanding of you know, your leverage

0:45:18.480 --> 0:45:24.440
<v Speaker 5>marks something that I do personally and for my clients.

0:45:24.440 --> 0:45:27.640
<v Speaker 5>They tell them, listen, find out what the income and

0:45:27.680 --> 0:45:31.800
<v Speaker 5>expenses are on the property. And not only that, whether

0:45:31.840 --> 0:45:33.799
<v Speaker 5>it's a flip or you're deciding to hold this thing.

0:45:33.960 --> 0:45:36.320
<v Speaker 5>You know, REFI out in twelve months, twenty four months,

0:45:36.360 --> 0:45:38.200
<v Speaker 5>and I don't care what type of property it is.

0:45:38.520 --> 0:45:40.760
<v Speaker 5>You want to have an understanding of the income. Because

0:45:41.480 --> 0:45:45.520
<v Speaker 5>look what happened last year. I mean on March seventeen,

0:45:45.640 --> 0:45:48.640
<v Speaker 5>twenty twenty, when COVID kicked in. I never forget that

0:45:48.719 --> 0:45:50.600
<v Speaker 5>day because I had twenty five million dollars worth of

0:45:50.640 --> 0:45:55.520
<v Speaker 5>loans on the table. And when everything's shut down, everything

0:45:55.600 --> 0:46:00.120
<v Speaker 5>shut down? What does that mean? That means that a

0:46:00.120 --> 0:46:03.680
<v Speaker 5>lot of folks weren't able to sell the properties because

0:46:03.719 --> 0:46:09.799
<v Speaker 5>realtors weren't even going to properties. Neither were appraisers. So

0:46:11.000 --> 0:46:15.160
<v Speaker 5>you kind of needed. My whole thing was listen, if

0:46:15.200 --> 0:46:18.279
<v Speaker 5>you're in a bridge, get out, look at the end.

0:46:18.560 --> 0:46:20.360
<v Speaker 5>But you have to look at the income and expenses.

0:46:20.400 --> 0:46:23.040
<v Speaker 5>The property has to make sense, it has to cash flow,

0:46:23.520 --> 0:46:26.120
<v Speaker 5>because again we can we don't know what the future holds.

0:46:26.280 --> 0:46:31.040
<v Speaker 5>Right You're seeing people buy properties above ESK and Matt

0:46:31.080 --> 0:46:34.759
<v Speaker 5>could probably attest to this more than you know. Matt,

0:46:34.800 --> 0:46:37.640
<v Speaker 5>how many people are how many people are you seeing

0:46:37.680 --> 0:46:39.040
<v Speaker 5>paying above market right now?

0:46:40.840 --> 0:46:41.040
<v Speaker 2>Man?

0:46:41.080 --> 0:46:44.440
<v Speaker 6>It really depends on if they're shopping in the retail market.

0:46:45.000 --> 0:46:49.040
<v Speaker 6>I mean, it seems like almost everybody right now for

0:46:49.080 --> 0:46:50.960
<v Speaker 6>the most part. You know, I'll probably say a good

0:46:51.040 --> 0:46:53.160
<v Speaker 6>seventy percent of the people that are come across are

0:46:53.200 --> 0:46:57.719
<v Speaker 6>paying above asking right now, and that's shopping retail and

0:46:57.880 --> 0:47:02.600
<v Speaker 6>thirty percent pain asking or a little bit below asking.

0:47:03.719 --> 0:47:06.080
<v Speaker 6>But it's a large percentage of people that are pain

0:47:06.120 --> 0:47:07.040
<v Speaker 6>above asking right now.

0:47:07.520 --> 0:47:09.160
<v Speaker 2>Let me let me, let me let me do this, Ken,

0:47:09.160 --> 0:47:11.200
<v Speaker 2>because I know a lot of people have hard money questions.

0:47:11.239 --> 0:47:13.640
<v Speaker 2>But I want to because we got a kind of

0:47:13.640 --> 0:47:17.839
<v Speaker 2>a strict time frame. But no, it's all good. I

0:47:17.840 --> 0:47:20.000
<v Speaker 2>appreciate that. But if we could, I just want to

0:47:20.080 --> 0:47:21.799
<v Speaker 2>let Matt speak so I can just make sure that

0:47:21.800 --> 0:47:24.520
<v Speaker 2>Matt has some time to speak before before we get

0:47:24.560 --> 0:47:25.080
<v Speaker 2>to the Q and A.

0:47:25.120 --> 0:47:30.680
<v Speaker 6>If that's yeah, no, absolutely all right, So what up?

0:47:30.719 --> 0:47:31.360
<v Speaker 2>What up? Y'all?

0:47:31.680 --> 0:47:34.040
<v Speaker 6>First of all, big shout out to all the earnest.

0:47:34.760 --> 0:47:36.960
<v Speaker 6>I can't see y'all chat in the zoom man, but

0:47:37.080 --> 0:47:39.560
<v Speaker 6>you already know how we do. I love y'all. And

0:47:39.680 --> 0:47:42.080
<v Speaker 6>second thing is, everybody on YouTube, y'all need to go

0:47:42.120 --> 0:47:44.799
<v Speaker 6>ahead and like this video. There's not enough likes on

0:47:44.800 --> 0:47:47.200
<v Speaker 6>this video and it's been a lot of information so far.

0:47:47.400 --> 0:47:51.120
<v Speaker 6>So show earn your Lisia some love. Spread this to

0:47:51.160 --> 0:47:55.600
<v Speaker 6>the community. Like the dad on video. Please keV move

0:47:55.680 --> 0:47:59.280
<v Speaker 6>your move your slides, bro, stop hit stop sharing?

0:48:00.120 --> 0:48:02.600
<v Speaker 2>How do I do resume? Share? Yeah?

0:48:02.640 --> 0:48:03.360
<v Speaker 6>He stop sharing?

0:48:08.120 --> 0:48:08.760
<v Speaker 5>Stop sharing?

0:48:08.840 --> 0:48:10.719
<v Speaker 6>Okay, go there you go? All right, there you go,

0:48:10.760 --> 0:48:13.439
<v Speaker 6>there you go. So all right, So what I'm gonna

0:48:13.440 --> 0:48:16.080
<v Speaker 6>do is I'm gonna just piggyback off of kind of

0:48:16.160 --> 0:48:20.399
<v Speaker 6>everything that Jose was saying and Kevin just to kind

0:48:20.400 --> 0:48:23.719
<v Speaker 6>of summ it up into the conventional world. So, as

0:48:24.560 --> 0:48:29.120
<v Speaker 6>Jose was saying about credit, credit is extremely important in

0:48:29.160 --> 0:48:32.160
<v Speaker 6>the mortgage world, especially now coming off of COVID nineteen.

0:48:32.360 --> 0:48:36.920
<v Speaker 6>The pandemic is pretty much over America's reopening, so you

0:48:37.040 --> 0:48:40.160
<v Speaker 6>got to make sure your credit is tight. Student loans,

0:48:40.160 --> 0:48:44.880
<v Speaker 6>everybody's talking about student loans, student loans, they and forbearance. Unfortunately,

0:48:45.080 --> 0:48:48.239
<v Speaker 6>if your student loans are in forbearance or deferred and

0:48:48.280 --> 0:48:51.520
<v Speaker 6>you're going with FAHA, then the lender is going to

0:48:51.640 --> 0:48:56.120
<v Speaker 6>use one percent of your balance to include into your

0:48:56.160 --> 0:48:58.840
<v Speaker 6>debt to income ratio. So remember this, guys. If you

0:48:58.960 --> 0:49:01.200
<v Speaker 6>got let's just do e Z numbers one hundred k

0:49:01.400 --> 0:49:04.560
<v Speaker 6>and student loan balances, one percent of that is one

0:49:04.600 --> 0:49:09.080
<v Speaker 6>thousand dollars and that's what the lender is going to use. Now,

0:49:09.120 --> 0:49:12.920
<v Speaker 6>what people don't realize is conventional loans do not have

0:49:12.960 --> 0:49:17.279
<v Speaker 6>the same guidelines. Conventional loans will accept your payment if

0:49:17.320 --> 0:49:20.920
<v Speaker 6>you're in an income base for payment plan and that payment,

0:49:21.480 --> 0:49:23.600
<v Speaker 6>you know, you get a letter from your student loan

0:49:23.640 --> 0:49:26.720
<v Speaker 6>company showing that your payment is five dollars, ten dollars,

0:49:26.760 --> 0:49:31.160
<v Speaker 6>fifty dollars, whatever it is. On a conventional mortgage, we

0:49:31.280 --> 0:49:34.000
<v Speaker 6>will use that payment. So a lot of people always

0:49:34.040 --> 0:49:37.240
<v Speaker 6>say student loans are hindering them from buying real estate,

0:49:37.680 --> 0:49:40.000
<v Speaker 6>and it's not. It does you know, I'm not going

0:49:40.080 --> 0:49:41.640
<v Speaker 6>to try to make light of it. It does if

0:49:41.680 --> 0:49:44.759
<v Speaker 6>you're going FHA. But the flip side of that is

0:49:44.800 --> 0:49:47.360
<v Speaker 6>you have to go conventional if you can qualify for

0:49:47.440 --> 0:49:51.000
<v Speaker 6>a conventional loan. So I want everybody and all the earners,

0:49:51.320 --> 0:49:55.000
<v Speaker 6>all the YouTubers right now to really understand if you

0:49:55.120 --> 0:49:58.640
<v Speaker 6>have student loans at your lender, if you can get

0:49:58.680 --> 0:50:03.520
<v Speaker 6>approved for conventional mortgage versus an FAHA mortgage. Right that's

0:50:03.600 --> 0:50:07.279
<v Speaker 6>number one. Number two, If you guys are participating in

0:50:07.320 --> 0:50:11.400
<v Speaker 6>any sort of credit repair, make sure that your credit

0:50:11.440 --> 0:50:15.680
<v Speaker 6>repair is completed before you apply for a loan. Reason being,

0:50:15.840 --> 0:50:20.279
<v Speaker 6>most credit repair companies are disputing these liabilities on your

0:50:20.280 --> 0:50:23.000
<v Speaker 6>credit report, So when a lender pulls your credit report,

0:50:23.080 --> 0:50:26.120
<v Speaker 6>it's going to show you know your American Express is

0:50:26.200 --> 0:50:29.520
<v Speaker 6>currently in dispute. That's going to be the language that's

0:50:29.520 --> 0:50:34.319
<v Speaker 6>on your credit report. Lenders, per the guidelines Fanny made

0:50:34.320 --> 0:50:39.560
<v Speaker 6>Freddie mac Fhava, they cannot lend to someone who's dispute

0:50:39.560 --> 0:50:43.200
<v Speaker 6>and actively disputing their trade lines. So what you have

0:50:43.280 --> 0:50:46.240
<v Speaker 6>to do is resolve those disputes, and then the lender

0:50:46.280 --> 0:50:49.440
<v Speaker 6>has to repull your credit again, which will result in

0:50:49.480 --> 0:50:53.840
<v Speaker 6>a second hard pull, which can ultimately lower your credit scores.

0:50:54.320 --> 0:50:57.040
<v Speaker 6>So I see this a lot all the time people

0:50:57.080 --> 0:51:00.840
<v Speaker 6>be in the middle of doing their credit repair. They're

0:51:00.880 --> 0:51:03.600
<v Speaker 6>in the beginning the middle, and they're so eager because

0:51:03.600 --> 0:51:06.600
<v Speaker 6>their scores might have jumped up, you know, twenty thirty

0:51:06.680 --> 0:51:10.319
<v Speaker 6>fifty points and they want to go execute. Great, but

0:51:10.400 --> 0:51:15.279
<v Speaker 6>you have to finish out your credit repair either. Just

0:51:15.320 --> 0:51:18.000
<v Speaker 6>tell your credit repair God to end the disputes and

0:51:18.040 --> 0:51:20.799
<v Speaker 6>resolve them so then you can go ahead and run

0:51:20.840 --> 0:51:24.640
<v Speaker 6>your credit. So people are making big mistakes by having

0:51:24.680 --> 0:51:28.879
<v Speaker 6>double credit polls, you know, within a thirty period third

0:51:28.960 --> 0:51:31.000
<v Speaker 6>over a thirty day period time, and then it drops

0:51:31.040 --> 0:51:33.640
<v Speaker 6>their scores back down. I see this shit happen all

0:51:33.719 --> 0:51:36.719
<v Speaker 6>the time, fellas, all the time. So please with student loans, God,

0:51:36.760 --> 0:51:38.799
<v Speaker 6>I mean I saw the loans with credit repair. Just

0:51:38.880 --> 0:51:45.680
<v Speaker 6>make sure your liabilities are done with the dispute right now.

0:51:46.600 --> 0:51:50.879
<v Speaker 6>But obviously, with credit scores five eighty FHA six point

0:51:50.880 --> 0:51:55.200
<v Speaker 6>twenty with conventional five eighty with VA loans is the

0:51:55.239 --> 0:51:59.680
<v Speaker 6>minimum credit scores nationwide pretty much, some lenders will have

0:51:59.760 --> 0:52:03.400
<v Speaker 6>over on top of that overlay is basically when the

0:52:03.440 --> 0:52:07.480
<v Speaker 6>bank the lender will put their own guidelines on top

0:52:07.560 --> 0:52:12.760
<v Speaker 6>of what the government guidelines are. All right, So actual

0:52:12.960 --> 0:52:15.880
<v Speaker 6>if your lender is telling you that you need a

0:52:15.960 --> 0:52:20.160
<v Speaker 6>higher credit score, then you must ask them automatically what

0:52:20.239 --> 0:52:23.840
<v Speaker 6>other overlays do you have with your lending programs? Because

0:52:23.880 --> 0:52:26.360
<v Speaker 6>that lender might not be the lender for you because

0:52:26.400 --> 0:52:30.960
<v Speaker 6>they might have they might be more restrictive. You know me, personally,

0:52:31.080 --> 0:52:33.680
<v Speaker 6>I follow the guidelines, the agency guidelines to a t.

0:52:33.920 --> 0:52:37.040
<v Speaker 6>We have no overlays. So whatever we can get an

0:52:37.120 --> 0:52:42.440
<v Speaker 6>automated underwriting approval from from Desktop Underwriting aka DU, we

0:52:42.560 --> 0:52:46.200
<v Speaker 6>will lend all right, but make sure you guys find

0:52:46.200 --> 0:52:48.480
<v Speaker 6>that out. Now, let's talk a little bit about loans.

0:52:48.480 --> 0:52:52.080
<v Speaker 6>Since Kevin was talking about hard money, fixing, flipping, things

0:52:52.160 --> 0:52:55.280
<v Speaker 6>of that nature, let's talk a little about rehab loans.

0:52:55.360 --> 0:52:55.520
<v Speaker 2>Right.

0:52:55.560 --> 0:52:58.000
<v Speaker 6>We got the Homebuys Blueprint volume too, which is the

0:52:58.080 --> 0:53:01.080
<v Speaker 6>number one The Homebise Blue Prince series, first of all,

0:53:01.120 --> 0:53:03.840
<v Speaker 6>is the number one freaking series of home buying in

0:53:04.239 --> 0:53:05.880
<v Speaker 6>the world. Let me just tell you all that it

0:53:05.960 --> 0:53:08.520
<v Speaker 6>is the absolute biggest, right. It's keeping up with the

0:53:08.560 --> 0:53:12.359
<v Speaker 6>brand model of the biggest, Right. Everything we do over

0:53:12.400 --> 0:53:15.080
<v Speaker 6>here is the biggest, and everybody who has the Bloomprint

0:53:15.080 --> 0:53:19.680
<v Speaker 6>will attest to this. The information is almost free and priceless. Right,

0:53:20.239 --> 0:53:26.640
<v Speaker 6>But let's talk about ADUs accessory dwelling units. A lot

0:53:26.680 --> 0:53:30.000
<v Speaker 6>of us talk We always talk about multifamilies, right, We

0:53:30.080 --> 0:53:32.799
<v Speaker 6>talk about house hacking all the time. But what people

0:53:32.880 --> 0:53:36.000
<v Speaker 6>don't realize is that a lot of states are very

0:53:36.080 --> 0:53:41.920
<v Speaker 6>ADU friendly, places like California, for example, because there's housing shortage,

0:53:41.960 --> 0:53:45.000
<v Speaker 6>there's not enough homes for the people that need them.

0:53:45.480 --> 0:53:49.920
<v Speaker 6>So what ADU is basically, think about your garage. The

0:53:50.440 --> 0:53:54.720
<v Speaker 6>California will allow you to turn your garage into until

0:53:55.120 --> 0:53:58.960
<v Speaker 6>an apartment, right, and so it's a legal single family

0:53:59.360 --> 0:54:01.719
<v Speaker 6>with an assess three dwelling unit. Here in New York

0:54:01.719 --> 0:54:06.040
<v Speaker 6>fellas we call those mother daughters, right, But everywhere else

0:54:06.160 --> 0:54:09.680
<v Speaker 6>is more assessed dwelling units. You can use a Fanny

0:54:09.719 --> 0:54:15.040
<v Speaker 6>May homestyle loan to convert your garage, your basement into

0:54:15.080 --> 0:54:18.840
<v Speaker 6>this ADU unit, and now you can house hack legally,

0:54:19.440 --> 0:54:23.200
<v Speaker 6>and Fanny May will allow you to use the rental income,

0:54:23.920 --> 0:54:27.080
<v Speaker 6>the potential rental income from your ADU to help you

0:54:27.200 --> 0:54:31.719
<v Speaker 6>qualify as well. People don't really understand the value in

0:54:31.760 --> 0:54:36.640
<v Speaker 6>that because most markets don't have duplexes, don't have three families,

0:54:36.680 --> 0:54:39.480
<v Speaker 6>don't have four families like they do here in the Northeast.

0:54:40.040 --> 0:54:43.480
<v Speaker 6>So I want everyone who's listening listening to this to

0:54:43.600 --> 0:54:46.720
<v Speaker 6>understand you you can house hack with a single family. Also,

0:54:47.360 --> 0:54:49.400
<v Speaker 6>buying a single family is not the worst thing in

0:54:49.440 --> 0:54:51.919
<v Speaker 6>the world, unlike a lot of people like to talk

0:54:51.960 --> 0:54:55.320
<v Speaker 6>about on social media they say, it's not an asset.

0:54:55.600 --> 0:54:59.040
<v Speaker 6>But with a Fanny made home style renovation loan, if

0:54:59.080 --> 0:55:01.880
<v Speaker 6>you don't have those funds, you can use this product

0:55:02.360 --> 0:55:05.680
<v Speaker 6>to house hack your single family. If your state or

0:55:05.760 --> 0:55:11.279
<v Speaker 6>county will allow you to legally convert you know, your

0:55:11.280 --> 0:55:14.640
<v Speaker 6>basement or your garage into an ad U. Hell, you

0:55:14.640 --> 0:55:16.920
<v Speaker 6>don't even need a garage. In some cases, they'll allow

0:55:16.960 --> 0:55:21.120
<v Speaker 6>you to build a brand new structure also and there'll

0:55:21.160 --> 0:55:22.640
<v Speaker 6>be an ADU. And you can do that with a

0:55:22.680 --> 0:55:25.360
<v Speaker 6>family made homestyle loan too. So I want everybody to

0:55:25.440 --> 0:55:29.839
<v Speaker 6>really understand the value of these ADUs. They're becoming very

0:55:29.880 --> 0:55:34.360
<v Speaker 6>popular all over the country. So folks, look, do your research,

0:55:34.440 --> 0:55:37.520
<v Speaker 6>do your due diligence, as we always say, see if

0:55:37.560 --> 0:55:40.440
<v Speaker 6>your town and your city will allow it. But rehab

0:55:40.560 --> 0:55:42.960
<v Speaker 6>loans is where I want you guys to focus on.

0:55:44.200 --> 0:55:47.759
<v Speaker 2>That's an insta Instagram clip. You know.

0:55:47.800 --> 0:55:50.160
<v Speaker 6>I was thinking that when you when when I was

0:55:50.160 --> 0:55:51.680
<v Speaker 6>saying it, I was like, I want to shot these

0:55:51.719 --> 0:55:52.960
<v Speaker 6>writing down the tom stamps.

0:55:53.920 --> 0:55:56.520
<v Speaker 2>I definitely I wrote it down fifty minutes into the conversations.

0:55:56.600 --> 0:56:02.480
<v Speaker 6>Instagram shout out to the clips. Let go viral. But yeah,

0:56:02.520 --> 0:56:06.520
<v Speaker 6>eighty users where it's at. Faany Mad Homestyle Rehab Loans

0:56:06.600 --> 0:56:10.120
<v Speaker 6>is a great product to use. You can use homestyle

0:56:10.160 --> 0:56:14.680
<v Speaker 6>renovation with single family properties. You can buy vacation homes

0:56:14.960 --> 0:56:18.920
<v Speaker 6>and fix them up with Fany Made Homestyle. You can

0:56:18.960 --> 0:56:23.520
<v Speaker 6>buy investment properties with fany May Homestyle Renovation loan. Now,

0:56:23.560 --> 0:56:26.279
<v Speaker 6>second homes are not multi family, guys, because I know

0:56:26.320 --> 0:56:27.600
<v Speaker 6>some of you're going to ask that, well, can I

0:56:27.640 --> 0:56:30.640
<v Speaker 6>buy a four family that's a second home? No, you

0:56:30.680 --> 0:56:33.440
<v Speaker 6>cannot buy a multi family and use it as a

0:56:33.440 --> 0:56:35.480
<v Speaker 6>second home. You can buy one family. So when you

0:56:35.520 --> 0:56:37.759
<v Speaker 6>think about second homes, think about my guys are in

0:56:37.760 --> 0:56:40.920
<v Speaker 6>Miami right now. Think about buying a condo in Miami

0:56:41.160 --> 0:56:43.040
<v Speaker 6>where you can go visit and have a good time

0:56:43.080 --> 0:56:44.839
<v Speaker 6>and you can stay in your condo. But now when

0:56:44.880 --> 0:56:46.600
<v Speaker 6>you go back to New York or wherever you're from,

0:56:46.640 --> 0:56:49.480
<v Speaker 6>you can now airbnb it. You can use this loan,

0:56:49.560 --> 0:56:52.560
<v Speaker 6>put ten percent down and get one hundred percent of

0:56:52.640 --> 0:56:56.480
<v Speaker 6>your rehab course. You can buy a one family investment

0:56:56.560 --> 0:57:00.239
<v Speaker 6>property using this family made homestyle renovation loan. Also, so

0:57:00.239 --> 0:57:02.080
<v Speaker 6>if you want to go buy something in Cleveland, there's

0:57:02.080 --> 0:57:04.040
<v Speaker 6>a lot of hard money lenders that won't even touch

0:57:04.080 --> 0:57:08.080
<v Speaker 6>anything under one hundred k. Well, Fanni May technically doesn't

0:57:08.080 --> 0:57:11.360
<v Speaker 6>have a minimum loan amount. Lenders now will cap you.

0:57:11.880 --> 0:57:15.720
<v Speaker 6>But I've seen and I've done deal's fifty thousand, sixty thousand,

0:57:15.760 --> 0:57:18.800
<v Speaker 6>seventy thousand, and forty thousand with us in a fany

0:57:18.800 --> 0:57:21.640
<v Speaker 6>made homestyle renovation loan too. So for those of you

0:57:21.680 --> 0:57:24.960
<v Speaker 6>folks who are trying to buy any smaller markets, don't

0:57:25.000 --> 0:57:30.000
<v Speaker 6>discount this product. Now you can get one hundred percent

0:57:30.040 --> 0:57:34.680
<v Speaker 6>of rehab and there's no experience required, which is the

0:57:34.840 --> 0:57:37.680
<v Speaker 6>beautiful thing about these loans. See, well, hard money loans,

0:57:37.720 --> 0:57:40.600
<v Speaker 6>like Kevin was discussing earlier, you have to if you

0:57:40.680 --> 0:57:44.439
<v Speaker 6>want the higher finance and ten percent down fifteen percent down,

0:57:44.800 --> 0:57:47.720
<v Speaker 6>you have to have experience. If you don't have that experience,

0:57:47.960 --> 0:57:50.960
<v Speaker 6>they're going to require twenty probably to thirty percent down,

0:57:51.040 --> 0:57:53.160
<v Speaker 6>just depending on a deal and depending on you and

0:57:53.200 --> 0:57:56.560
<v Speaker 6>your credit and everything like that. With these loans, you

0:57:56.640 --> 0:57:59.120
<v Speaker 6>don't need any experience. You just need to be able

0:57:59.120 --> 0:58:02.440
<v Speaker 6>to qualify from a debt to income racial perspective. And

0:58:02.480 --> 0:58:05.120
<v Speaker 6>then when you close and you finish your rehab, guess what,

0:58:05.440 --> 0:58:07.440
<v Speaker 6>you got a deal under your belt. So now when

0:58:07.440 --> 0:58:10.080
<v Speaker 6>you go to Kevin, you'll be able to say, hey,

0:58:10.080 --> 0:58:13.240
<v Speaker 6>here's my settlement statement from my deal that I just rehabbed,

0:58:13.280 --> 0:58:15.560
<v Speaker 6>and now it's my rent tool, it's my flip. Now

0:58:15.600 --> 0:58:18.120
<v Speaker 6>you have a deal under your belt, and you leverage

0:58:18.360 --> 0:58:21.800
<v Speaker 6>your personal credit, your personal income, and you got yourself

0:58:21.800 --> 0:58:24.560
<v Speaker 6>in the game. So don't now, I want to say this,

0:58:24.640 --> 0:58:26.240
<v Speaker 6>it's not going to be as quick as hard money.

0:58:27.440 --> 0:58:29.520
<v Speaker 6>You got to have your ducks in a row, right,

0:58:29.560 --> 0:58:31.960
<v Speaker 6>And that's what the Homebuys Blueprint Volume two is going

0:58:32.000 --> 0:58:34.000
<v Speaker 6>to teach you how to get your ducks in a row,

0:58:34.240 --> 0:58:37.680
<v Speaker 6>how to get these deals closed thirty forty five days.

0:58:37.800 --> 0:58:40.360
<v Speaker 6>They can't take longer if you don't have your ducks

0:58:40.360 --> 0:58:42.160
<v Speaker 6>in a row. But that was the whole purpose of

0:58:42.280 --> 0:58:45.080
<v Speaker 6>Volume two was to teach you guys, how to go

0:58:45.120 --> 0:58:49.280
<v Speaker 6>out there in today's competitive salers market where seventy percent

0:58:49.280 --> 0:58:51.000
<v Speaker 6>of the people that I'm doing loans for are paying

0:58:51.040 --> 0:58:54.360
<v Speaker 6>above asking, where I'm trying to flip your mindset to say,

0:58:54.440 --> 0:58:58.840
<v Speaker 6>think like the investor, understand the seventy percent rule that

0:58:58.880 --> 0:59:01.800
<v Speaker 6>hard money lenders are going to use. You can you

0:59:01.880 --> 0:59:05.680
<v Speaker 6>can compete with these investors because of them, ninety five

0:59:05.720 --> 0:59:07.520
<v Speaker 6>percent of them are not going to go above seventy

0:59:07.560 --> 0:59:11.440
<v Speaker 6>percent ARV. ARV is after renovative value. For those of

0:59:11.480 --> 0:59:13.720
<v Speaker 6>you who don't know, most of them are going to

0:59:13.760 --> 0:59:16.400
<v Speaker 6>stay below that because they want to get financed. But you,

0:59:16.600 --> 0:59:19.240
<v Speaker 6>as a home buyer that's gonna live in the house

0:59:19.720 --> 0:59:24.440
<v Speaker 6>or buy an airbnb for for vacation purposes, right, you

0:59:24.480 --> 0:59:27.760
<v Speaker 6>can go to eighty percent ARV and outbid them every

0:59:27.840 --> 0:59:30.560
<v Speaker 6>day and walk into your property with twenty percent equity

0:59:30.920 --> 0:59:34.360
<v Speaker 6>if you know the game. So the home Buyers Blueprint,

0:59:34.440 --> 0:59:37.040
<v Speaker 6>Volume two is what you guys need. You need it,

0:59:37.240 --> 0:59:39.120
<v Speaker 6>you need it, and I'm telling you it's gonna save

0:59:39.160 --> 0:59:40.680
<v Speaker 6>you a ton of money. I know I'll keep going

0:59:40.720 --> 0:59:43.400
<v Speaker 6>on and on, but like we here for a reason

0:59:43.440 --> 0:59:44.959
<v Speaker 6>and purpose, baby, y'all need.

0:59:44.880 --> 0:59:47.479
<v Speaker 2>To get with the program real quick.

0:59:47.600 --> 0:59:49.880
<v Speaker 10>They made it can be used for one of four

0:59:49.920 --> 0:59:52.400
<v Speaker 10>families condos and co ops correction.

0:59:52.480 --> 0:59:57.160
<v Speaker 6>So one to four family. See Troy been taking it,

0:59:57.280 --> 1:00:01.240
<v Speaker 6>so one to four families condos, any move Fanny may

1:00:01.240 --> 1:00:04.040
<v Speaker 6>approve co ops so now with condos and co ops,

1:00:04.080 --> 1:00:08.360
<v Speaker 6>you can't do any exterior renovations because you can't. Right,

1:00:08.440 --> 1:00:14.440
<v Speaker 6>you can only renovate what's in the area of the property.

1:00:15.480 --> 1:00:18.439
<v Speaker 6>But yeah you can with multi families with that program,

1:00:18.560 --> 1:00:20.480
<v Speaker 6>but again it has to be your primary residence for

1:00:20.560 --> 1:00:21.280
<v Speaker 6>multi families.

1:00:23.080 --> 1:00:25.800
<v Speaker 2>That's a vibe. I only know because I went through

1:00:25.840 --> 1:00:26.560
<v Speaker 2>the cross my brother.

1:00:27.720 --> 1:00:29.920
<v Speaker 6>I know you sound. You sound very educated over there,

1:00:30.000 --> 1:00:30.520
<v Speaker 6>my brother.

1:00:33.440 --> 1:00:35.160
<v Speaker 2>Best in the business. So we gonna open up the

1:00:35.200 --> 1:00:39.680
<v Speaker 2>question answer before Before we do that, Kevin, because I

1:00:39.680 --> 1:00:41.480
<v Speaker 2>had to cut you short, I want to give you

1:00:41.520 --> 1:00:43.720
<v Speaker 2>opportunity to tell your information because a lot of people

1:00:43.720 --> 1:00:46.960
<v Speaker 2>will probably we'll let you say at the end. Two,

1:00:47.040 --> 1:00:49.960
<v Speaker 2>but how like, what's your company's name? How can it

1:00:50.040 --> 1:00:52.560
<v Speaker 2>contact you? Because I see some people on YouTube like

1:00:52.560 --> 1:00:54.560
<v Speaker 2>they want to get some information on hard money loans.

1:00:54.600 --> 1:00:56.840
<v Speaker 2>That's another advantage of being at Eyo University. All of

1:00:56.840 --> 1:01:00.400
<v Speaker 2>our resources become everybody else's resources. So yeah, we'll push

1:01:00.440 --> 1:01:01.080
<v Speaker 2>your information.

1:01:01.840 --> 1:01:04.360
<v Speaker 5>So the name of the firm is GO Realty Capital Partners,

1:01:05.120 --> 1:01:09.880
<v Speaker 5>based a forty five Rockefeller Center, New York. Our numbers

1:01:09.880 --> 1:01:15.240
<v Speaker 5>two one, two seven, nine six five four zero five

1:01:15.640 --> 1:01:20.160
<v Speaker 5>and email is a great way to contact us our

1:01:20.200 --> 1:01:25.320
<v Speaker 5>email addresses loans l O A n s at go

1:01:26.160 --> 1:01:31.200
<v Speaker 5>realty cap dot com.

1:01:31.240 --> 1:01:34.360
<v Speaker 2>There you have it, all right, and Jose, I appreciate

1:01:34.360 --> 1:01:37.800
<v Speaker 2>the super chat. Yeah, very gracious of you. Thank you,

1:01:37.880 --> 1:01:42.000
<v Speaker 2>appreciate you all right. So this is the second part

1:01:42.040 --> 1:01:45.920
<v Speaker 2>of Eyo University. Another thing that that we do is

1:01:46.440 --> 1:01:50.600
<v Speaker 2>so this is how the classes usually run. The presenters present,

1:01:51.200 --> 1:01:53.920
<v Speaker 2>and then after that is Q and A and to me,

1:01:54.080 --> 1:01:56.200
<v Speaker 2>this is the best part of the whole presentation because

1:01:56.200 --> 1:01:58.560
<v Speaker 2>it's like people ask all the time. What's differ between

1:01:58.560 --> 1:02:00.480
<v Speaker 2>EUIL University and just the regular POE as well. The

1:02:00.480 --> 1:02:03.280
<v Speaker 2>regular podcast is just watching people give information, which is

1:02:03.320 --> 1:02:06.920
<v Speaker 2>extremely powerful. But a lot of times people have personalized questions.

1:02:07.080 --> 1:02:09.440
<v Speaker 2>And what happens is that people go on to dms

1:02:09.720 --> 1:02:11.560
<v Speaker 2>and after they come on the podcast, they got three

1:02:11.600 --> 1:02:13.680
<v Speaker 2>million dms, so they might be able to answer you back,

1:02:13.720 --> 1:02:16.280
<v Speaker 2>but they probably don't have an opportunity to answer you back.

1:02:16.680 --> 1:02:19.720
<v Speaker 2>So Eyo University another benefit is that you actually, you know,

1:02:19.760 --> 1:02:21.680
<v Speaker 2>it's kind of like a classroom situation where you get

1:02:21.680 --> 1:02:26.240
<v Speaker 2>to raise your hand and ask questions. So this is

1:02:26.240 --> 1:02:28.800
<v Speaker 2>the second part of the presentation where we're going to

1:02:28.880 --> 1:02:31.760
<v Speaker 2>go Q and A and everybody that you see on

1:02:31.760 --> 1:02:33.720
<v Speaker 2>the zoom their members of EIU universitys wanting to get

1:02:33.760 --> 1:02:35.520
<v Speaker 2>to ask questions. So once again before we go to

1:02:35.520 --> 1:02:38.240
<v Speaker 2>the Q and A, if you're interested in joining, Eyo

1:02:38.320 --> 1:02:41.560
<v Speaker 2>University currently have a limited time only sales sixty percent

1:02:41.640 --> 1:02:44.800
<v Speaker 2>off and that includes the home by Blueprint buying one

1:02:45.000 --> 1:02:49.200
<v Speaker 2>over one hundred past classes, weekly webinars, twenty Infinity groups,

1:02:49.200 --> 1:02:53.320
<v Speaker 2>including our Crypto Club, which is the hottest industreets right now.

1:02:53.480 --> 1:02:56.680
<v Speaker 2>Shout out to Alistair, Monthly financial planning calls with me,

1:02:56.880 --> 1:02:59.040
<v Speaker 2>access to our private Facebook group with over eighty five

1:02:59.120 --> 1:03:04.840
<v Speaker 2>hundred people, book Club, Movie Club, monthly group chat that's

1:03:04.880 --> 1:03:07.680
<v Speaker 2>with me and Troy, and then we bring different people on.

1:03:08.400 --> 1:03:10.600
<v Speaker 2>This week, we brought the president of the Crypto Club,

1:03:10.600 --> 1:03:14.760
<v Speaker 2>Alistair on, and we also brought the latest Eile alumnis

1:03:15.520 --> 1:03:16.280
<v Speaker 2>on Chic Code.

1:03:16.360 --> 1:03:16.560
<v Speaker 7>Yeah.

1:03:16.600 --> 1:03:19.600
<v Speaker 2>Shout out to them, Shout out to Jahu and shout

1:03:19.600 --> 1:03:22.720
<v Speaker 2>out to Francis. They came on. They broke down charts.

1:03:22.720 --> 1:03:25.800
<v Speaker 2>They've been on pretty much every call. Yeah. So we

1:03:25.840 --> 1:03:28.120
<v Speaker 2>talk about the plays that we're making in our portfolio,

1:03:28.440 --> 1:03:30.760
<v Speaker 2>but more importantly, we break down charts and kind of

1:03:30.760 --> 1:03:32.920
<v Speaker 2>give some different detailed valuations for that.

1:03:33.000 --> 1:03:34.640
<v Speaker 4>The craziest part is if they were in the chat

1:03:34.760 --> 1:03:36.800
<v Speaker 4>last week and they made some of the plays that

1:03:36.840 --> 1:03:39.280
<v Speaker 4>we said, they're probably up like fifty percent.

1:03:39.320 --> 1:03:40.960
<v Speaker 2>So shot everybody that was in the chat. Yeah, that

1:03:41.040 --> 1:03:44.200
<v Speaker 2>was crazy. Join Eyo University if you are interested in

1:03:44.440 --> 1:03:46.880
<v Speaker 2>taking your education to the next level and being part

1:03:46.880 --> 1:03:49.160
<v Speaker 2>of a community. It's not a get rich quick thing.

1:03:49.560 --> 1:03:52.840
<v Speaker 2>It's not a course. No disrespect to anybody that has courses,

1:03:52.840 --> 1:03:55.360
<v Speaker 2>but our thing is different. It's an institution where people

1:03:56.000 --> 1:03:59.080
<v Speaker 2>is built after the school. So we have meetups. We

1:03:59.160 --> 1:04:01.480
<v Speaker 2>have private meeting up in la provably meet up in Atlanta,

1:04:01.760 --> 1:04:03.640
<v Speaker 2>we have we're having a private meet up in London

1:04:03.760 --> 1:04:07.120
<v Speaker 2>for our UK earnest. We have Infinity groups, we have

1:04:07.160 --> 1:04:09.480
<v Speaker 2>a book club, movie club. So it's not something that

1:04:09.520 --> 1:04:12.000
<v Speaker 2>you're just going to just do one weekend and your

1:04:12.000 --> 1:04:14.439
<v Speaker 2>whole life changes. It's for people that's really serious about

1:04:14.440 --> 1:04:17.800
<v Speaker 2>the education, that's looking to work, that's looking to network

1:04:18.120 --> 1:04:20.640
<v Speaker 2>and really build the community. So that's what we that's

1:04:20.680 --> 1:04:26.520
<v Speaker 2>what the Eyo University is. So let's all let's let's

1:04:26.600 --> 1:04:28.840
<v Speaker 2>jump into it. Let's let's see question, let's see what

1:04:28.840 --> 1:04:30.320
<v Speaker 2>we got. I've been on the road, I've been in two

1:04:30.320 --> 1:04:33.000
<v Speaker 2>months with no name drops. So let's go to Trey

1:04:33.080 --> 1:04:35.600
<v Speaker 2>real Estate. We come to you. Mute the stuff. You've

1:04:35.600 --> 1:04:41.120
<v Speaker 2>been unmuted. What's going on? Shout out the trade?

1:04:41.200 --> 1:04:46.520
<v Speaker 6>Oh Trey, no bathroom breaks, playboy Nah, no Fridz braks either.

1:04:46.560 --> 1:04:48.760
<v Speaker 2>And if you have the ice trade machine five for

1:04:49.120 --> 1:04:53.200
<v Speaker 2>really a three two one going He's going, Alima, we

1:04:53.280 --> 1:04:55.000
<v Speaker 2>coming to you on mute your self. You've been unmuted.

1:04:56.360 --> 1:04:58.720
<v Speaker 8>Hi, guys, that's what I'm talking about.

1:04:59.160 --> 1:05:00.000
<v Speaker 2>How are you?

1:05:00.320 --> 1:05:05.200
<v Speaker 11>I'm good? My question is for Jose credit dude. So

1:05:05.280 --> 1:05:09.360
<v Speaker 11>my question, I'm trying to up my credit. I don't

1:05:09.400 --> 1:05:12.600
<v Speaker 11>have any like anything written off, anything like that. My

1:05:12.680 --> 1:05:17.720
<v Speaker 11>credits that have too much. So I have two almost maxed.

1:05:17.440 --> 1:05:20.080
<v Speaker 12>Out credit cards and a card lead.

1:05:20.880 --> 1:05:25.000
<v Speaker 11>So do you recommend me opening two more credit cards

1:05:25.080 --> 1:05:28.680
<v Speaker 11>just to off balance the the usage while I.

1:05:28.720 --> 1:05:31.320
<v Speaker 13>Pay down the higher credit cards?

1:05:31.520 --> 1:05:33.360
<v Speaker 11>Do you think that would have increased it or help?

1:05:35.040 --> 1:05:37.680
<v Speaker 8>No? Great question. So, being that two of the cards

1:05:37.720 --> 1:05:39.680
<v Speaker 8>are maxed out, I mean the changes of you're getting

1:05:39.680 --> 1:05:42.760
<v Speaker 8>approved for another card right now is going to be

1:05:42.960 --> 1:05:46.600
<v Speaker 8>very slim. If you what I would suggest if you

1:05:46.680 --> 1:05:48.560
<v Speaker 8>are going to apply for anything, is I would I

1:05:48.560 --> 1:05:52.560
<v Speaker 8>would suggest applying for a personal loan if you can

1:05:52.600 --> 1:05:55.160
<v Speaker 8>get it, depending on the balance of the cards, because

1:05:55.160 --> 1:05:56.439
<v Speaker 8>you're going to get it if you're if you're trying

1:05:56.440 --> 1:05:58.200
<v Speaker 8>to apply for a credit card, you're going to get

1:05:58.200 --> 1:06:00.960
<v Speaker 8>an inquiry either way. So I would definitely try to

1:06:01.000 --> 1:06:04.480
<v Speaker 8>get either approved for a loan or just pay down

1:06:04.520 --> 1:06:06.560
<v Speaker 8>your credit cards, you know, as much as you can,

1:06:06.600 --> 1:06:09.640
<v Speaker 8>because getting another thing the thing is the way that

1:06:09.680 --> 1:06:13.960
<v Speaker 8>the utilization works. It works per card and total cards.

1:06:14.240 --> 1:06:16.240
<v Speaker 8>So if you have two credit cards that are maxed

1:06:16.280 --> 1:06:19.000
<v Speaker 8>out and you get another one that has a zero balance,

1:06:19.360 --> 1:06:21.320
<v Speaker 8>you still have two credit cards that are maxed out.

1:06:21.360 --> 1:06:23.320
<v Speaker 8>So yeah, it's can help the uslation a little bit,

1:06:23.560 --> 1:06:25.280
<v Speaker 8>but you're still going to have those two maxed out

1:06:25.280 --> 1:06:25.960
<v Speaker 8>credit cards.

1:06:26.360 --> 1:06:28.720
<v Speaker 11>So when you I do like like credit Carmon like

1:06:28.880 --> 1:06:31.920
<v Speaker 11>us said, don't do. But they always recommend those personal loans.

1:06:31.920 --> 1:06:34.680
<v Speaker 11>Do you recommend those? I would see they always say

1:06:34.680 --> 1:06:36.480
<v Speaker 11>offering one, I never take it.

1:06:37.080 --> 1:06:39.520
<v Speaker 8>Yes, as long as the interest rate is not really

1:06:39.560 --> 1:06:43.120
<v Speaker 8>over thirteen percent, that's pretty much the guideline. There are

1:06:43.120 --> 1:06:45.320
<v Speaker 8>a lot of loan companies out there, I mean credit unions,

1:06:45.320 --> 1:06:48.680
<v Speaker 8>they're always going to be the best bet. But Credit

1:06:48.760 --> 1:06:50.960
<v Speaker 8>Carma try to stay away from those personal loans because

1:06:50.960 --> 1:06:54.920
<v Speaker 8>they used like thirty percent interest rate and then you're

1:06:54.920 --> 1:06:56.560
<v Speaker 8>gonna end up paying more money at the end of

1:06:56.600 --> 1:06:56.919
<v Speaker 8>the day.

1:06:57.240 --> 1:06:59.400
<v Speaker 11>So all right, so get the personal loan, pay off

1:06:59.400 --> 1:07:01.600
<v Speaker 11>the credit cards, and them back to the personal loans.

1:07:01.600 --> 1:07:03.960
<v Speaker 8>What you recommend, yep, Because now all you're doing is

1:07:04.000 --> 1:07:07.880
<v Speaker 8>shifting your your debt from revolving to installment. And even

1:07:07.920 --> 1:07:10.240
<v Speaker 8>though you're still going to have the same debt, you're

1:07:10.280 --> 1:07:13.200
<v Speaker 8>shifting your risk as a consumer. So now your credit

1:07:13.200 --> 1:07:15.760
<v Speaker 8>cards are not matched out, you have a personal loan,

1:07:16.040 --> 1:07:18.000
<v Speaker 8>and more than likely your payment is going to be lower,

1:07:18.080 --> 1:07:21.440
<v Speaker 8>which is going to increase your borring power as well.

1:07:22.120 --> 1:07:24.120
<v Speaker 11>If they would that would be going if they approved me,

1:07:24.280 --> 1:07:27.240
<v Speaker 11>because okay for the amom that I need. Okay, thank

1:07:27.240 --> 1:07:28.080
<v Speaker 11>you so much for your help.

1:07:28.560 --> 1:07:34.080
<v Speaker 2>Thank you, appreciate you. Yeah, yeah, yeah, let's go to Marquis.

1:07:34.080 --> 1:07:36.800
<v Speaker 2>Marquis be coming to you. Mute yourself, you've been muted.

1:07:36.840 --> 1:07:40.600
<v Speaker 2>What's going on? Marquees? Uh?

1:07:40.840 --> 1:07:44.480
<v Speaker 12>I was wondering, uh mg, if if the F A

1:07:44.600 --> 1:07:49.000
<v Speaker 12>H A two or three K covers rehabilitation, can you

1:07:49.040 --> 1:07:51.919
<v Speaker 12>also use that? Or are there any first time home

1:07:51.960 --> 1:07:54.560
<v Speaker 12>buyer loans for people that want to buy way and

1:07:54.560 --> 1:07:55.800
<v Speaker 12>then build on top of it.

1:07:58.200 --> 1:08:02.959
<v Speaker 6>First time home program for construction loans loans.

1:08:02.840 --> 1:08:05.400
<v Speaker 12>Yeah, I'm in Los Angeles and a guy out here

1:08:05.440 --> 1:08:07.760
<v Speaker 12>told me it might be better financially to find a

1:08:07.800 --> 1:08:10.240
<v Speaker 12>piece of land, like a small piece of land, and

1:08:10.440 --> 1:08:14.080
<v Speaker 12>just build like a three or or a three unit

1:08:14.240 --> 1:08:16.360
<v Speaker 12>or like a duplex on top of it. He said

1:08:16.360 --> 1:08:19.280
<v Speaker 12>it might be cheaper that route.

1:08:19.400 --> 1:08:22.360
<v Speaker 6>I mean, the grand scheme of things. That sounds good.

1:08:23.240 --> 1:08:23.799
<v Speaker 6>That's probably.

1:08:26.320 --> 1:08:28.200
<v Speaker 10>Oh yeah, markeys, you got to your volume down a

1:08:28.200 --> 1:08:30.439
<v Speaker 10>little bit, good, god man?

1:08:31.400 --> 1:08:32.360
<v Speaker 6>Yeah, can you hear me now?

1:08:33.120 --> 1:08:36.200
<v Speaker 2>Yeah? Yeah, he has pretty loud exactly all right.

1:08:36.240 --> 1:08:39.200
<v Speaker 6>So with construction loans, and I know Kevin can speak

1:08:39.240 --> 1:08:42.639
<v Speaker 6>on this also. With construction loans, there's really no such

1:08:42.680 --> 1:08:47.439
<v Speaker 6>thing as first time home buyer, right you have, and

1:08:47.520 --> 1:08:50.120
<v Speaker 6>it's suspended pretty much with ninety percent of the banks

1:08:50.120 --> 1:08:53.519
<v Speaker 6>out there where you can do a construction FHA construction

1:08:53.600 --> 1:08:56.800
<v Speaker 6>a permanent loan. I don't really speak about those too

1:08:56.880 --> 1:08:59.599
<v Speaker 6>much because there's really no lenders out there that's offering it.

1:08:59.640 --> 1:09:02.719
<v Speaker 6>Since COVID came around. I'm hoping it does come back

1:09:03.160 --> 1:09:06.720
<v Speaker 6>at some point, but that program wouldn't allow for multifamilies,

1:09:06.760 --> 1:09:11.080
<v Speaker 6>only for single families. True traditional construction loans, like if

1:09:11.120 --> 1:09:13.320
<v Speaker 6>you're going to like through an a paper bank, will

1:09:13.320 --> 1:09:16.760
<v Speaker 6>only be for single families as well. It's not a

1:09:16.880 --> 1:09:18.599
<v Speaker 6>first time home buy a program where you can put

1:09:18.640 --> 1:09:20.800
<v Speaker 6>down minimum down payment. You'll have to put down like

1:09:20.840 --> 1:09:24.400
<v Speaker 6>twenty twenty five percent. It's just a completely different ball game.

1:09:24.680 --> 1:09:26.960
<v Speaker 6>But if you want to build multifamily, that's when you

1:09:27.040 --> 1:09:29.880
<v Speaker 6>need to go into Kevin's world. And that's really going

1:09:29.960 --> 1:09:32.920
<v Speaker 6>to depending on your experience. Also, Kevin can speak a

1:09:32.960 --> 1:09:33.840
<v Speaker 6>little bit more to that one.

1:09:33.880 --> 1:09:37.280
<v Speaker 5>Also, I think people, Yeah, when it comes to construction,

1:09:38.720 --> 1:09:40.640
<v Speaker 5>the pedigree needs to be there from the from the

1:09:40.640 --> 1:09:44.479
<v Speaker 5>garran towards standpoints, so the person who's actually borrowing the money, right.

1:09:44.560 --> 1:09:47.559
<v Speaker 5>So some people who are contractors per se, they might

1:09:47.640 --> 1:09:52.479
<v Speaker 5>have experience building a property or putting a property together,

1:09:52.760 --> 1:09:56.799
<v Speaker 5>finishing it. Uh, but you want to see most lenders

1:09:56.880 --> 1:09:59.960
<v Speaker 5>want to see some type of pedigree on the banks

1:10:00.800 --> 1:10:02.920
<v Speaker 5>commercial bank side. Let's say if it was for an

1:10:02.960 --> 1:10:08.080
<v Speaker 5>investment property, most people would want to most banks would

1:10:08.120 --> 1:10:12.000
<v Speaker 5>want to see at least the shell completed, meaning foundation poured,

1:10:13.280 --> 1:10:15.840
<v Speaker 5>you know, walls up, and from there they would they

1:10:15.840 --> 1:10:16.879
<v Speaker 5>would extend capital.

1:10:17.680 --> 1:10:21.360
<v Speaker 6>So what I would tell you is this right? If

1:10:21.360 --> 1:10:23.680
<v Speaker 6>you look at what a two or three K you

1:10:23.720 --> 1:10:27.479
<v Speaker 6>can do three point five percent down. But look at

1:10:27.640 --> 1:10:30.760
<v Speaker 6>maybe a one family that's zoned in an area where

1:10:30.800 --> 1:10:33.759
<v Speaker 6>you can build a multifamily, and now you can use

1:10:33.880 --> 1:10:37.000
<v Speaker 6>a tool three K to convert the property from a

1:10:37.080 --> 1:10:40.920
<v Speaker 6>one family to a multi family. So that's also an

1:10:41.000 --> 1:10:44.280
<v Speaker 6>alternative route that you can use versus just finding land

1:10:44.400 --> 1:10:47.040
<v Speaker 6>and building ground up. Maybe you find a cheap single

1:10:47.120 --> 1:10:50.679
<v Speaker 6>family and convert the property into a legal two family

1:10:50.920 --> 1:10:53.639
<v Speaker 6>with using an FHA too or three K. That's another

1:10:53.760 --> 1:10:58.840
<v Speaker 6>gem of the two or three K program. Okay, yeah,

1:10:59.040 --> 1:10:59.320
<v Speaker 6>thank you.

1:10:59.360 --> 1:11:03.080
<v Speaker 2>I appreciate, no doubt, Mark jeez, thank you.

1:11:04.040 --> 1:11:06.360
<v Speaker 6>Shout yeah.

1:11:06.400 --> 1:11:08.880
<v Speaker 2>Yeah, let's go to Tony C. We're coming to you. Tony.

1:11:09.160 --> 1:11:11.559
<v Speaker 2>You've been muted. Mute yourself. What's going on?

1:11:17.040 --> 1:11:17.280
<v Speaker 5>Yep?

1:11:18.120 --> 1:11:21.120
<v Speaker 2>Hello, what's lonely? Yo? Yoh?

1:11:21.120 --> 1:11:21.479
<v Speaker 5>What's good?

1:11:21.600 --> 1:11:25.360
<v Speaker 13>Sean Troy Man, I'm doing good man. Shout out to y'all. Man.

1:11:25.400 --> 1:11:26.880
<v Speaker 13>Of course, I appreciate what y'all doing.

1:11:27.439 --> 1:11:30.160
<v Speaker 14>I just got a quick question for Jose and then

1:11:30.200 --> 1:11:32.040
<v Speaker 14>a quick question for Matt and Kevin.

1:11:34.000 --> 1:11:34.200
<v Speaker 2>God.

1:11:34.280 --> 1:11:36.439
<v Speaker 6>Okay, I understand, Hose.

1:11:36.560 --> 1:11:37.880
<v Speaker 14>I just want I just want to tell you I

1:11:37.920 --> 1:11:40.880
<v Speaker 14>just I joined the GOT Credit program. I spoke to

1:11:41.160 --> 1:11:47.679
<v Speaker 14>Steve and Julie and I emailed all the documents. I'm

1:11:47.680 --> 1:11:49.760
<v Speaker 14>just I'm eager to get started. Man, I just want

1:11:49.760 --> 1:11:51.760
<v Speaker 14>to let you know I'm out here, you know what

1:11:51.760 --> 1:11:52.800
<v Speaker 14>I mean.

1:11:53.360 --> 1:11:54.680
<v Speaker 2>So I love it.

1:11:55.840 --> 1:12:01.799
<v Speaker 14>So uh MG and Kevin, I text a MG about

1:12:01.800 --> 1:12:04.120
<v Speaker 14>a property. He got back to me through the five

1:12:04.200 --> 1:12:08.760
<v Speaker 14>or six number. Shout out to him and it was

1:12:08.800 --> 1:12:10.400
<v Speaker 14>my landlord on Stenton Island.

1:12:10.439 --> 1:12:14.360
<v Speaker 13>He has some property he's looking for a catch off

1:12:15.120 --> 1:12:15.800
<v Speaker 13>for four hundred.

1:12:15.880 --> 1:12:17.000
<v Speaker 14>Of course, you know you got to look at the

1:12:17.000 --> 1:12:19.719
<v Speaker 14>comps and everything, but he also has a few properties

1:12:19.760 --> 1:12:20.240
<v Speaker 14>on the block.

1:12:20.640 --> 1:12:22.960
<v Speaker 13>Now, I just want to know he's stubborn with the price.

1:12:23.600 --> 1:12:26.880
<v Speaker 14>So in your experience, how do you how do you

1:12:26.920 --> 1:12:30.439
<v Speaker 14>basically talk someone down or do you just wait he

1:12:30.520 --> 1:12:31.920
<v Speaker 14>waited out or what do you what do you do

1:12:31.960 --> 1:12:33.240
<v Speaker 14>from your experience.

1:12:34.400 --> 1:12:39.880
<v Speaker 6>In this market. You're not in a position negotiating this

1:12:40.000 --> 1:12:42.559
<v Speaker 6>market unfortunately. I hate to say it like that and

1:12:42.600 --> 1:12:46.840
<v Speaker 6>just be real blunt, but like Stella, don't need you brought.

1:12:46.880 --> 1:12:49.880
<v Speaker 6>There's millions to other people that's right behind you. That's

1:12:50.200 --> 1:12:57.719
<v Speaker 6>that that need places to live right now. So you know, look,

1:12:58.400 --> 1:13:00.719
<v Speaker 6>I'm a fan of a cloth out do get fed,

1:13:00.960 --> 1:13:03.160
<v Speaker 6>So throw you out there. The worst thing he can

1:13:03.200 --> 1:13:06.639
<v Speaker 6>do is tell you no or count off of you, right,

1:13:07.000 --> 1:13:09.560
<v Speaker 6>and then from there you make a decision. But I

1:13:09.600 --> 1:13:13.400
<v Speaker 6>would if you're buying retail, I wouldn't expect to get

1:13:13.640 --> 1:13:16.439
<v Speaker 6>money off the purchase price in this market.

1:13:17.360 --> 1:13:20.480
<v Speaker 13>Understood, understood. Now you know he's just he's given.

1:13:22.640 --> 1:13:25.080
<v Speaker 14>Actly looking to buy it, but you know, just to

1:13:25.120 --> 1:13:27.000
<v Speaker 14>make it attractive to people. I see the people that

1:13:27.160 --> 1:13:30.040
<v Speaker 14>I homes with cash, I call them a low baller.

1:13:30.120 --> 1:13:32.439
<v Speaker 14>You know, I know about the sixty five percent, you know,

1:13:32.520 --> 1:13:35.000
<v Speaker 14>refine to seventy five of course through to you, so

1:13:35.439 --> 1:13:38.519
<v Speaker 14>you know, just you know, in more information and doing

1:13:38.560 --> 1:13:38.800
<v Speaker 14>my thing.

1:13:38.880 --> 1:13:40.679
<v Speaker 13>I mean, I definitely appreciate you hitting me out though.

1:13:41.200 --> 1:13:43.080
<v Speaker 6>Yeah, I mean, if now, if you if that property

1:13:43.120 --> 1:13:45.200
<v Speaker 6>is distress and needs a ton of work, then yeah,

1:13:45.400 --> 1:13:48.200
<v Speaker 6>you know, if it's off market, you know, and he's

1:13:48.240 --> 1:13:50.800
<v Speaker 6>desperate to sell, then you might have a better chance

1:13:50.880 --> 1:13:53.280
<v Speaker 6>at everything you just said, you know, using you know

1:13:53.479 --> 1:13:55.639
<v Speaker 6>a guy like Kevin with his services, so that way

1:13:55.680 --> 1:13:57.639
<v Speaker 6>you can go in there and close in like seven

1:13:57.680 --> 1:14:00.120
<v Speaker 6>days or something like that. So yeah, I mean, and

1:14:00.320 --> 1:14:04.200
<v Speaker 6>you have that access too, because hard money is sometimes cash, right.

1:14:04.240 --> 1:14:05.960
<v Speaker 6>You can say I'm going on cash, but knowing you're

1:14:05.960 --> 1:14:08.559
<v Speaker 6>getting hard money financing. That's what a lot of these

1:14:08.560 --> 1:14:10.400
<v Speaker 6>invests doing a lot of Let me tell you, guys,

1:14:10.560 --> 1:14:12.400
<v Speaker 6>a lot of these people are not paying cash. Let

1:14:12.400 --> 1:14:15.080
<v Speaker 6>me just say that they're not paying cash. Don't let

1:14:15.080 --> 1:14:17.599
<v Speaker 6>them fool you. They're not paying cash. They are using

1:14:17.640 --> 1:14:21.040
<v Speaker 6>hard money and saying it's cash because they can close fast.

1:14:21.439 --> 1:14:22.639
<v Speaker 6>But they're not using cash.

1:14:27.000 --> 1:14:29.559
<v Speaker 2>Thank you, thank you, thank you, appreciate that. Thank you.

1:14:29.640 --> 1:14:32.040
<v Speaker 2>Let's go to Veronica for coming to you. Shout out

1:14:32.040 --> 1:14:34.439
<v Speaker 2>to MG for reaching back out through the number.

1:14:34.600 --> 1:14:37.439
<v Speaker 6>I do my best, Bush, but the thousands of people

1:14:38.120 --> 1:14:40.400
<v Speaker 6>that flooded me, I really do my best. I love y'all.

1:14:40.400 --> 1:14:43.280
<v Speaker 6>Oh man, please be patient, man, I beg you please.

1:14:43.360 --> 1:14:45.080
<v Speaker 6>I will get back to you. I try my best.

1:14:45.120 --> 1:14:45.280
<v Speaker 5>Man.

1:14:46.600 --> 1:14:50.280
<v Speaker 15>An illegal alien from Guatemala charged with raping a child

1:14:50.280 --> 1:14:54.120
<v Speaker 15>in Massachusetts. An MS thirteen gang member from El Salvador

1:14:54.360 --> 1:14:58.479
<v Speaker 15>accused of murdering a Texas man of Venezuelan charged with

1:14:58.560 --> 1:15:02.439
<v Speaker 15>filming and selling child pornography in Michigan. These are just

1:15:02.520 --> 1:15:06.280
<v Speaker 15>some of the heinous migrant criminals caught because of President

1:15:06.320 --> 1:15:09.920
<v Speaker 15>Donald J. Trump's leadership. I'm Christy nom the United States

1:15:09.920 --> 1:15:14.719
<v Speaker 15>Secretary of Homeland Security. Under President Trump, attempted illegal border

1:15:14.760 --> 1:15:18.320
<v Speaker 15>crossings are at the lowest levels ever recorded, and over

1:15:18.360 --> 1:15:21.599
<v Speaker 15>one hundred thousand illegal aliens have been arrested. If you

1:15:21.680 --> 1:15:25.519
<v Speaker 15>are here illegally, your next you will be fine nearly

1:15:25.600 --> 1:15:29.599
<v Speaker 15>one thousand dollars a day, imprisoned, and deported. You will

1:15:29.640 --> 1:15:33.280
<v Speaker 15>never return. But if you register using our CBP home

1:15:33.360 --> 1:15:36.719
<v Speaker 15>app and leave now, you could be allowed to return legally.

1:15:37.080 --> 1:15:41.839
<v Speaker 15>Do what's right. Leave now. Under President Trump, America's laws,

1:15:42.000 --> 1:15:44.439
<v Speaker 15>border and families will be protected.

1:15:44.520 --> 1:15:46.639
<v Speaker 6>Sponsored by the United States Department of Homeland Security,