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

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

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

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

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

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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

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

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: If you're familiar with no Noise, Don Peebles brilliant, brilliant gentleman,

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Speaker 3: the most successful black real estate developer in American history,

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Speaker 3: absolutely one of the most successful relevant real estate developers

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Speaker 3: in the world. He probably doesn't want me to say this,

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Speaker 3: but because we asked him, you know, he kind of

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Speaker 3: likes yeah. But it's important because so many people probably

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Speaker 3: are not familiar with his story and we need to

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Speaker 3: be familiarized with people that have wealth because it's not

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Speaker 3: only inspirational motivational, but it can actually stay the direction

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Speaker 3: of where you want to go with your career.

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Speaker 4: You don't necessarily have to.

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Speaker 3: Be an athlete or entertainer to reach a high level

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Speaker 3: of success. So you know, Forbes said that he was

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Speaker 3: worth nine hundred million dollars. That was ten years ago.

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Speaker 3: But if you know how Fork does their recording, you

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Speaker 3: have to cooperate with them, and he stopped recording. He

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Speaker 3: stopped cooperating with them ten years ago, So I mean,

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Speaker 3: you know, you can kind of gauge it from there,

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Speaker 3: but the one that's yeah.

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Speaker 4: So you know, it's very important that we understand.

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Speaker 3: You know that this is somebody that has reached that level,

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Speaker 3: that billion dollar level, not by any means of athletic

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Speaker 3: ability or entertainment, but through real estate development. And he

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Speaker 3: was working on building the first black owned and black

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Speaker 3: developed skyscraper in Manhattan called the Africa. Yeah, so without

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Speaker 3: further ado, we will bring out Don Peeble's cash rules.

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Speaker 3: Everything around me very fitting, very fitting.

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Speaker 5: Clapping up for this grape brother again. Yes, give me

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Speaker 5: more energy for him. This is a legend, y'all. Yes, yes,

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Speaker 5: I told him when I met on.

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Speaker 3: My dad brought me his book to People's Principal when

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Speaker 3: I was probably a teenager. So if anybody has not

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Speaker 3: read that book, it's extremely extremely good read, and I

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Speaker 3: highly recommend that you read that book. That's one of

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Speaker 3: the must read when it comes to financial literacy, business

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Speaker 3: and investing.

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Speaker 4: So thank you for joining us today. Appreciate it. Great

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Speaker 4: to be here. So let's get right into it.

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Speaker 3: So, how do you feel the investment market holds for

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Speaker 3: Q one of twenty twenty three?

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Speaker 4: Like, what do you what's your outlook for Q one

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Speaker 4: of twenty twenty three?

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Speaker 6: Time of Opportunity.

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Speaker 7: I just heard the Einstein of Wall Street on and

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Speaker 7: I agree with his concept. But if I think back,

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Speaker 7: I mean history repeats itself constantly, So if you go

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Speaker 7: back to nineteen between nineteen seventy eight and nineteen eighty one,

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Speaker 7: the Federal Reserve raised the interest rates from six percent

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Speaker 7: to eighteen percent, Jesus, and the market kept functioning until

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Speaker 7: it didn't because people didn't catch the interest rates. The

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Speaker 7: economy didn't adjust to the interest rates. But then the

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Speaker 7: interest rates started going back down, and by nineteen eighty seven,

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Speaker 7: I bought my first house and I paid nine hundred

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Speaker 7: and twenty five thousand dollars for it, and I got

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Speaker 7: a mortgage on it from City Bank that was indexed

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Speaker 7: with Libor and the rate was nine point two five percent.

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Speaker 3: Wow.

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Speaker 7: So I was able to buy a house pay nine

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Speaker 7: and a quarter percent and feel good about it. So

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Speaker 7: what will happen is that interest rates were just way

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Speaker 7: too low. So, for example, that house, if I were

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Speaker 7: buying it two years ago, if I had the same

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Speaker 7: ink money that I was paying on debt service, which

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Speaker 7: in that instance was almost one hundred thousand dollars a year,

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Speaker 7: that would have bought me a five million dollar mortgage.

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Speaker 7: So the question we have to ask ourselves is how

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Speaker 7: much does real estate appreciate and how much does it

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Speaker 7: fluctuate based on interest rates? And interest rates have a

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Speaker 7: lot to do with home values because people borrow money

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Speaker 7: to buy their homes in real estate overall is a

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Speaker 7: leverage business, and so interest rates affect valuation very quickly.

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Speaker 4: I'll see trail over there. I know that.

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Speaker 6: Look, now you've got what are you sure?

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Speaker 2: Yeah?

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Speaker 8: Good?

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Speaker 2: Like this.

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Speaker 9: I want to ask the question that everyone in the

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Speaker 9: audience wants to know. Let's say we're started from scratch,

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Speaker 9: and let's just say I was your best friend. How

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Speaker 9: do we get rich in real estate from twenty twenty

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Speaker 9: three to twenty twenty five?

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Speaker 4: Is that what you guys want to know?

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Speaker 6: Please?

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Speaker 4: How do we get rich in real estate?

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Speaker 2: Brother?

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Speaker 7: Well, look, I know a little bit of how to

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Speaker 7: do it because I started off with about six hundred

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Speaker 7: dollars and then last count, I mean, you know, I

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Speaker 7: was at close to a billion dollars.

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Speaker 6: I think I've done that.

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Speaker 4: Class that off for him. That's amazing, very yeah, close

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Speaker 4: to a billion.

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Speaker 6: But right now we are built.

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Speaker 7: We have a pipeline and a portfolio of about ten

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Speaker 7: billion dollars in real estate. And I started off doing

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Speaker 7: My first building was ten million dollars. So real estate's

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Speaker 7: a leverage business and so we can't be afraid to borrow.

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Speaker 7: That's the first thing I mean I learned a long

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Speaker 7: long time ago. One of my mentors said that if

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Speaker 7: you owe the bank fifty thousand dollars. You can't sleep

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Speaker 7: at night if you own fifty million. Why should you

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Speaker 7: both be away?

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Speaker 6: So the idea is to get comfortable borrowing money.

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Speaker 4: And what interest rate would be great to borrow at?

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Speaker 6: I mean it doesn't. I mean I think it's more

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Speaker 6: about income.

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Speaker 7: You can do look in the real estate business at

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Speaker 7: the level that we operate in.

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Speaker 2: So for example, earners, what's up?

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Speaker 8: You ever walk into a small business and everything just

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Speaker 8: works like the checkout is fast, the receipts are digital,

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Speaker 8: tipping is a breeze, and you're out the door before

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Speaker 8: the line even builds odds are they're using Square. We

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Speaker 8: love supporting businesses that run on Square because it just

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Speaker 8: feels seamless. Whether it's a local coffee shop, a vendor

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Speaker 8: at a pop up market, or even one.

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Speaker 2: Of our merch partners.

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Speaker 8: Square makes it easy for them to take payments, manage inventory,

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Speaker 8: and run their business with confidence, all from one simple system.

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Speaker 8: If you're a business owner or even just thinking about

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Speaker 8: launching something soon, Square is hands down one of the

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

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

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

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

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

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Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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

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

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Speaker 1: Do what's right to leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 7: Let's take a let's make it easy. Let's take a

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Speaker 7: billion dollar a half a billion dollar building. So half

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Speaker 7: a billion dollar building, we are going to get sixty

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Speaker 7: percent in debt. Okay, so that's going to be three

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Speaker 7: hundred million dollars, and then that other two hundred million

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Speaker 7: is equity. And I won't put up all that two

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Speaker 7: hundred million. I'll go to Goldman Sacks or you know,

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Speaker 7: Apollo or one of these private equity funds, and they'll

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Speaker 7: put up ninety percent of it, and we'll put up

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Speaker 7: ten percent. So I'll put up twenty million, they'll put

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Speaker 7: up one hundred and eighty million dollars they are going

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Speaker 7: to charge. If we were doing this right now, they

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Speaker 7: would be charging what's called the preferred return of about

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Speaker 7: fourteen percent, and they'd be looking to earn twenty five

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Speaker 7: percent on their money. So it's really not it's just

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Speaker 7: the interest rate fluctuation just really affects equity to a degree.

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Speaker 7: Read except when you're buying very tight deals like cap

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Speaker 7: rate deals on apartment buildings. If you're buying it a

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Speaker 7: four and a half percent cap writing and interest rates

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Speaker 7: are six, and that's a tough deal to make because

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Speaker 7: you're not making a spread. But real estate is all

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Speaker 7: about leveraging, and so your cost of capital is one

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Speaker 7: function of it, but it's also what is the market

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Speaker 7: value of the asset. The challenge was residential real estate

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Speaker 7: on right now, for say, buying homes, is people's buying

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Speaker 7: power has been diminished significantly because most Americans buy homes

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Speaker 7: with mortgages, and so they're buying power has been cut

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Speaker 7: in half at a minimum, and it's sometimes more sot

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Speaker 7: six months ago, eight months ago, somebody could buy a

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Speaker 7: million dollar home if they're making one hundred thousand dollars

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Speaker 7: a year. Now they got to look at a half

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Speaker 7: a million dollar home, and so their mindset's not there.

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Speaker 7: So that would lead somebody like that to rent. And

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Speaker 7: so what happens is when people can't buy, they rent,

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Speaker 7: and or they can't buy what they want, they rent,

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Speaker 7: and so the rental market will continue to get stronger

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Speaker 7: as interest rates go up. But what will happen also

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Speaker 7: is how home values will go down. And so right

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Speaker 7: now we're in the time of this uncertainty. No one

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Speaker 7: kind of knows what's going to happen. But the fundamentals

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Speaker 7: for real estate are very good. Unemployment's very low, income

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Speaker 7: and salaries are high, wages are high, there's a backlog

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Speaker 7: and demand for products. So every element of the economy

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Speaker 7: fundamentally is good. So it's just are people willing to

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Speaker 7: pay what it costs to buy or will they pay

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Speaker 7: a little bit more to rent and wait until there's

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Speaker 7: another time. So right now, our strategic direction is that

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Speaker 7: we're focused on buying. We're developing rental properties now. No

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Speaker 7: longer we did condos before. Now our real focus is

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Speaker 7: more on rentals, except at the ultra high level, and

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Speaker 7: then people are buying in cash interfraate sensitive.

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Speaker 10: So during COVID there was this mass exodus. Everybody was

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Speaker 10: leaving New York. They said the price is too high,

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Speaker 10: rents too damn high. I know you have real estate

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Speaker 10: obviously developments out in Miami, but the affirmation toile is

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Speaker 10: going to be here in New York City.

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Speaker 6: Right, we just had the midterm election.

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Speaker 10: You know, our governor is still in place. I wonder

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Speaker 10: what your your thoughts are the future economy of New

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Speaker 10: York and why it's so important that the affirmation TOWE

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Speaker 10: is here.

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Speaker 7: Well, New York is one of, if not the greatest

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Speaker 7: city in the world. So there's always a demand for

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Speaker 7: New York. And what happened is there's another generation of

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Speaker 7: people who want to come here. New York got a

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Speaker 7: little bit more affordable. And also most people in New

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Speaker 7: York rent seventy five percent. Everybody who lives really rents,

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Speaker 7: and so the idea that the condo market is softened up.

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Speaker 7: Jeff means that the developers who can't sell those condos

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Speaker 7: will now put them in the rental pool. So New

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Speaker 7: York is getting younger, and I think, look, New York

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Speaker 7: used to be up until really Bloomberg came in. It

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Speaker 7: was a city about creativity. It was the city about excitement.

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Speaker 7: It was a city that of the first people. It

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Speaker 7: was a city of different walks of life. Financially, just

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Speaker 7: a unique melting pot. And then Mike Bloomberg, over twelve years,

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Speaker 7: made it almost a Beverly Hills or you know, and

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Speaker 7: you know, it became a money center place and everything

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Speaker 7: was about money.

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Speaker 6: It was about money, and so property values ran up.

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Speaker 7: Especially Mike Bloomberg's focus was attracting really rich people to

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Speaker 7: come here and buy apartments. Well they ran up the

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Speaker 7: price and so, but that has nothing to do with

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Speaker 7: the fundamentals of New York. It's such a small market.

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Speaker 7: So New York's not dead. It's strong. We can all

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Speaker 7: see it all the traffic. We were walking around going

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Speaker 7: into the storage. You're seeing people's shop and spending money.

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Speaker 7: They're going out to the clubs. Everybody's active here. So

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Speaker 7: New York's don't have another big run. I mean It's

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Speaker 7: an expensive market to get into, so that makes it

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Speaker 7: a bit more challenging as a real estate investor, especially

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Speaker 7: an early investor.

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Speaker 3: My graduates from my school being fores bad drop drop Mike,

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Speaker 3: drop bagdropft.

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

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

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

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

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

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Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fine nearly

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Speaker 1: one thousand dollars a day, imprisoned and deported. You will

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

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

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security,