1 00:00:00,360 --> 00:00:01,120 Speaker 1: Earners. What's up. 2 00:00:01,200 --> 00:00:03,680 Speaker 2: You ever walk into a small business and everything just 3 00:00:03,840 --> 00:00:07,000 Speaker 2: works like the checkout is fast, their seats are digital, 4 00:00:07,520 --> 00:00:10,520 Speaker 2: tipping is a breeze, and you're out the door before 5 00:00:10,520 --> 00:00:14,680 Speaker 2: the line even builds odds are they're using Square. We 6 00:00:14,840 --> 00:00:17,400 Speaker 2: love supporting businesses that run on Square because it just 7 00:00:17,400 --> 00:00:20,640 Speaker 2: feels seamless. Whether it's a local coffee shop, a vendor 8 00:00:20,680 --> 00:00:22,960 Speaker 2: at a pop up market, or even one of our 9 00:00:23,000 --> 00:00:26,680 Speaker 2: merch partners. Square makes it easy for them to take payments, 10 00:00:26,880 --> 00:00:30,639 Speaker 2: manage inventory, and run their business with confidence, all from 11 00:00:30,720 --> 00:00:33,520 Speaker 2: one simple system. One of the things we love most 12 00:00:33,600 --> 00:00:37,480 Speaker 2: is seeing neighborhood businesses level up. Business West Indian spired 13 00:00:37,520 --> 00:00:40,560 Speaker 2: writing our community that started with a small takeout counter. 14 00:00:41,000 --> 00:00:43,680 Speaker 2: Now with Square, they've been able to expand into a 15 00:00:43,720 --> 00:00:47,400 Speaker 2: full sit down restaurant and even started catering events across 16 00:00:47,479 --> 00:00:50,440 Speaker 2: the city. That's the kind of growth that aspires us, 17 00:00:50,680 --> 00:00:53,880 Speaker 2: and it's powered by Square. Square is built for all 18 00:00:53,920 --> 00:00:56,920 Speaker 2: types of businesses, from the corner bagel shop that turned 19 00:00:56,960 --> 00:00:59,920 Speaker 2: into a local chain, to the specialty market with that 20 00:01:00,000 --> 00:01:03,000 Speaker 2: thousands of unique items, to the stylist who's been holding 21 00:01:03,040 --> 00:01:05,920 Speaker 2: you down for years. If you're a business owner or 22 00:01:06,000 --> 00:01:09,679 Speaker 2: even just thinking about launching something soon. Square is hands 23 00:01:09,720 --> 00:01:11,640 Speaker 2: down one of the best tools out there to help 24 00:01:11,680 --> 00:01:15,480 Speaker 2: you start, run and grow. It's not just about payments, 25 00:01:15,800 --> 00:01:18,440 Speaker 2: it's about giving you time back so you can focus 26 00:01:18,440 --> 00:01:21,160 Speaker 2: on what matters most ready. To see how Square can 27 00:01:21,200 --> 00:01:25,960 Speaker 2: transform your business, visit Square dot com backslash go backslash 28 00:01:26,080 --> 00:01:29,480 Speaker 2: e y l to learn more that Square dot Com 29 00:01:29,480 --> 00:01:33,679 Speaker 2: backslash go backslash e y L. Don't wait, don't hesitate. 30 00:01:33,840 --> 00:01:36,200 Speaker 2: Let's Square handle the back end so you can keep 31 00:01:36,240 --> 00:01:37,440 Speaker 2: pushing your vision forward. 32 00:01:38,160 --> 00:01:43,080 Speaker 1: Man, what's God? What's what's good? Fellows? And my brother? 33 00:01:43,120 --> 00:01:43,680 Speaker 1: How you doing? 34 00:01:43,720 --> 00:01:43,920 Speaker 3: Man? 35 00:01:44,640 --> 00:01:48,680 Speaker 1: We are blasted? Thank God for another day? What's pod? Brother? 36 00:01:49,280 --> 00:01:50,040 Speaker 1: Don't be mad at me? 37 00:01:50,080 --> 00:01:52,960 Speaker 2: Man, I meant to text you that that TSM thing. Man, 38 00:01:52,960 --> 00:01:54,120 Speaker 2: It's just I'm looking in. 39 00:01:54,160 --> 00:01:56,560 Speaker 4: The group text right now and I'm starting that group 40 00:01:56,680 --> 00:01:57,920 Speaker 4: text drives hell right. 41 00:01:58,440 --> 00:01:59,720 Speaker 1: Yeah, I just saw that. 42 00:02:00,000 --> 00:02:03,440 Speaker 4: It was the damn that shit is crazy, bro. 43 00:02:04,040 --> 00:02:04,960 Speaker 1: But I have called you. 44 00:02:05,120 --> 00:02:08,440 Speaker 4: I have called you, so shout out to Troy. I'm 45 00:02:08,440 --> 00:02:10,960 Speaker 4: on my Troy Ish for twenty twenty six. Stay low, 46 00:02:11,080 --> 00:02:15,000 Speaker 4: keep firing. You might not see me after Market, Mondays, 47 00:02:15,000 --> 00:02:16,320 Speaker 4: Tonight Live or anything. 48 00:02:16,440 --> 00:02:17,040 Speaker 1: For the rest of it. 49 00:02:17,560 --> 00:02:21,600 Speaker 4: You while I do it, dive and get things right 50 00:02:21,919 --> 00:02:24,360 Speaker 4: on my end. So shout out to Troy. I am 51 00:02:24,400 --> 00:02:27,160 Speaker 4: taking a page out of his book. For twenty twenty 52 00:02:27,200 --> 00:02:30,639 Speaker 4: six and maybe for the near future, I might post 53 00:02:30,800 --> 00:02:33,000 Speaker 4: once every other week and it might just be some 54 00:02:33,040 --> 00:02:34,440 Speaker 4: fly pitches of me and my father. 55 00:02:34,720 --> 00:02:35,680 Speaker 1: You still got never know. 56 00:02:36,320 --> 00:02:37,880 Speaker 5: But just the personal time. 57 00:02:38,040 --> 00:02:38,840 Speaker 1: Keep to yourself. 58 00:02:39,200 --> 00:02:43,640 Speaker 4: Brother, I'm just gonna keep everything to myself. 59 00:02:44,919 --> 00:02:48,480 Speaker 1: Stand out. That's a fact, my god, welcome back to 60 00:02:48,520 --> 00:02:51,200 Speaker 1: the show. Look, seven straight summers. 61 00:02:51,240 --> 00:02:54,720 Speaker 4: Critics might not admit it, but nobody of Financial Licy 62 00:02:54,760 --> 00:02:56,679 Speaker 4: did it quite like we did it. We did it 63 00:02:57,800 --> 00:03:00,480 Speaker 4: like seven straight summers. There's nothing no more can tell 64 00:03:00,520 --> 00:03:03,600 Speaker 4: me what I want to get, No foolishness in twenty 65 00:03:03,639 --> 00:03:05,359 Speaker 4: twenty six from nobody. 66 00:03:06,080 --> 00:03:09,280 Speaker 1: Thank you. It's seven straight summers. Get your numbers up. 67 00:03:09,919 --> 00:03:11,800 Speaker 1: That's a fact. That's a fact. 68 00:03:11,840 --> 00:03:16,720 Speaker 3: So Matt Garland, licensed real estate professional, loan officer. End 69 00:03:16,760 --> 00:03:20,160 Speaker 3: of the show has been on every platform that we've 70 00:03:20,240 --> 00:03:25,600 Speaker 3: ever had investmentest earned Aalsia market. Mondays, I don't think 71 00:03:25,600 --> 00:03:28,359 Speaker 3: you've been on blackout. That's probably only your we go'll 72 00:03:28,440 --> 00:03:29,440 Speaker 3: keep back with a blackout. 73 00:03:29,560 --> 00:03:29,920 Speaker 1: I got some. 74 00:03:33,120 --> 00:03:35,200 Speaker 4: I got some inch to talk about for blackout that 75 00:03:36,160 --> 00:03:39,400 Speaker 4: other time you see me on the internet this year blackout. 76 00:03:39,560 --> 00:03:43,520 Speaker 1: Let's set it up. So let's talk about real estate. 77 00:03:43,520 --> 00:03:46,640 Speaker 3: We haven't talked about real estate in a while, okay, 78 00:03:46,720 --> 00:03:48,480 Speaker 3: so we talk about stocks all time. Is it a 79 00:03:48,480 --> 00:03:50,760 Speaker 3: good time of bostocks? Is a bad time of boss stocks? 80 00:03:50,960 --> 00:03:55,800 Speaker 3: So twenty twenty six we hear right now? Will home 81 00:03:55,920 --> 00:03:57,840 Speaker 3: prices drop in twenty twenty six? 82 00:03:58,840 --> 00:04:07,400 Speaker 4: M good question in my professional opinion, No, there's not 83 00:04:07,640 --> 00:04:13,080 Speaker 4: enough supply out there or inventory out there for home 84 00:04:13,160 --> 00:04:18,719 Speaker 4: prices to really crash like the Internet is telling you. Look, 85 00:04:18,720 --> 00:04:21,760 Speaker 4: a crash is unlikely, right, So twenty twenty six, I 86 00:04:21,800 --> 00:04:26,160 Speaker 4: believe it's going to be a flat year. Existing home 87 00:04:26,240 --> 00:04:29,520 Speaker 4: sales right now are still at a three low territory 88 00:04:29,720 --> 00:04:34,080 Speaker 4: the national medium home price in twenty twenty five, it's 89 00:04:34,120 --> 00:04:36,880 Speaker 4: still up year of a year, one point seven percent 90 00:04:37,400 --> 00:04:40,039 Speaker 4: year of a year. It's slow growth. But if you 91 00:04:40,080 --> 00:04:44,960 Speaker 4: look at the historic growth of home appreciation, if you 92 00:04:45,000 --> 00:04:49,320 Speaker 4: look back like sixty five years, homes jimmy appreciate around 93 00:04:49,440 --> 00:04:54,120 Speaker 4: three percent on average. Right what we saw during the 94 00:04:54,200 --> 00:04:58,719 Speaker 4: pandemic was a unicorn years when homes are appreciating twenty 95 00:04:58,720 --> 00:05:03,360 Speaker 4: plus percent. But nationally where we have one point seven 96 00:05:03,880 --> 00:05:08,160 Speaker 4: on average is still appreciation and it's compounded. Everybody type 97 00:05:08,200 --> 00:05:12,400 Speaker 4: in chat compounded. That's the beautiful thing about investing, right, 98 00:05:12,640 --> 00:05:18,760 Speaker 4: Everything compounds, So appreciation, whether it's slow growth, whether it's flat, 99 00:05:19,160 --> 00:05:23,240 Speaker 4: whether it's skyrocketing, you still got to account for the 100 00:05:23,360 --> 00:05:26,920 Speaker 4: other years prior to it, right. And the people who 101 00:05:26,960 --> 00:05:30,360 Speaker 4: are in the market, meaning they own real estate, those 102 00:05:30,400 --> 00:05:31,680 Speaker 4: are the ones who are going to win. And the 103 00:05:31,720 --> 00:05:34,599 Speaker 4: people who are going to sit on the sidelines and 104 00:05:34,680 --> 00:05:37,240 Speaker 4: try to double dutch their way into you know, you know, 105 00:05:37,320 --> 00:05:39,360 Speaker 4: double dutch right, everybody from the hood. When you kind 106 00:05:39,360 --> 00:05:40,960 Speaker 4: of like, you know what I'm saying, one foot in, 107 00:05:41,040 --> 00:05:44,240 Speaker 4: one foot out, you double dutch in it, right, you 108 00:05:44,839 --> 00:05:46,159 Speaker 4: folks who are going to be the ones who are 109 00:05:46,200 --> 00:05:48,560 Speaker 4: going to lose out on this appreciation and lose out 110 00:05:48,680 --> 00:05:52,840 Speaker 4: on this potential to change your net worth. So I 111 00:05:53,040 --> 00:05:56,000 Speaker 4: would humbly say, I don't think home prices are going 112 00:05:56,040 --> 00:05:57,840 Speaker 4: to drop. I don't think there's going to be a crash. 113 00:05:57,880 --> 00:05:59,560 Speaker 4: I'm kind of like a broken record when it comes 114 00:05:59,600 --> 00:06:01,839 Speaker 4: to the South. Jack and I still have been on 115 00:06:01,880 --> 00:06:02,280 Speaker 4: this wrong. 116 00:06:03,600 --> 00:06:07,080 Speaker 1: I've been saying this for five years, six years. These 117 00:06:07,080 --> 00:06:07,760 Speaker 1: are facts, MG. 118 00:06:07,920 --> 00:06:09,680 Speaker 2: And when we talk about investing, we always talk about 119 00:06:09,720 --> 00:06:12,240 Speaker 2: callous events. There's a couple of things that are coming 120 00:06:12,320 --> 00:06:13,960 Speaker 2: up this year. We're getting a new fetch here. I 121 00:06:13,960 --> 00:06:17,039 Speaker 2: know you were excited about this two hundred billion dollar 122 00:06:17,120 --> 00:06:20,280 Speaker 2: mortgage bonds thing that Trump is talking about. All that's 123 00:06:20,360 --> 00:06:22,960 Speaker 2: going to affect interest rates were down? 124 00:06:23,000 --> 00:06:24,000 Speaker 1: Here was it? 125 00:06:24,040 --> 00:06:28,040 Speaker 2: Today's the nineteenth at six percent. How do you see 126 00:06:28,640 --> 00:06:31,680 Speaker 2: interest rates heading into the rest of twenty twenty six? 127 00:06:32,440 --> 00:06:37,440 Speaker 4: Man, I love anytime I hear the government talking about 128 00:06:37,640 --> 00:06:42,760 Speaker 4: buying bonds or buying treasuries, which not for nothing since 129 00:06:42,839 --> 00:06:45,799 Speaker 4: December of twenty twenty five, with a lot of people 130 00:06:45,800 --> 00:06:50,040 Speaker 4: don't even realize is that the fans have already started 131 00:06:50,080 --> 00:06:56,799 Speaker 4: buying treasuries again. They quit quantitative tightening back in December, 132 00:06:57,000 --> 00:06:59,720 Speaker 4: and they not calling it q E anymore. With the easing, 133 00:07:00,200 --> 00:07:02,320 Speaker 4: It's like I like to call a q E lte 134 00:07:02,600 --> 00:07:05,520 Speaker 4: what they're doing right now, because you remember during pandemic 135 00:07:06,360 --> 00:07:09,560 Speaker 4: they were buying trillions dollars of billions of dollars worth 136 00:07:09,600 --> 00:07:12,480 Speaker 4: of bonds and that's why we saw this significant drop 137 00:07:12,480 --> 00:07:15,640 Speaker 4: and interest rates the way we did. But the FATS 138 00:07:15,720 --> 00:07:20,160 Speaker 4: is already buying treasuries right now since December, and when 139 00:07:20,200 --> 00:07:23,280 Speaker 4: Trump came out and said that he wants Fannie May 140 00:07:23,400 --> 00:07:26,440 Speaker 4: to buy two hundred billion dollars worth of bonds. That 141 00:07:26,480 --> 00:07:30,040 Speaker 4: hasn't happened yet. But if you add that on top 142 00:07:30,080 --> 00:07:32,920 Speaker 4: of what the Fed is already doing, I think twenty 143 00:07:32,960 --> 00:07:35,440 Speaker 4: twenty six is going to be a great year for 144 00:07:35,680 --> 00:07:38,480 Speaker 4: interest rates. You know, rates hit a three and a 145 00:07:38,560 --> 00:07:42,280 Speaker 4: half year low recently. They're right around six percent right now, 146 00:07:42,320 --> 00:07:44,560 Speaker 4: but you can definitely get if you're looking at a 147 00:07:44,600 --> 00:07:47,840 Speaker 4: thirty year mortgage for a primary residence, you can definitely 148 00:07:47,880 --> 00:07:51,000 Speaker 4: get in the high fives, mid fives, just depending on 149 00:07:51,040 --> 00:07:54,440 Speaker 4: the product, the program, and your credit score. So rates 150 00:07:54,520 --> 00:07:58,520 Speaker 4: are definitely lower than what they were a year ago. 151 00:07:59,520 --> 00:08:03,600 Speaker 4: And if you look at refinance applications, refinance applications is 152 00:08:03,720 --> 00:08:07,520 Speaker 4: up like one hundred and twenty percent. December home sales, 153 00:08:08,200 --> 00:08:11,360 Speaker 4: you know, one of the best numbers of twenty twenty 154 00:08:11,400 --> 00:08:14,200 Speaker 4: five was in December for the amount of homes that sold. 155 00:08:14,840 --> 00:08:18,520 Speaker 4: So with rates coming down and Trump keep talking about 156 00:08:18,520 --> 00:08:21,320 Speaker 4: the housing market, man, I love it. Anytime he's talking 157 00:08:21,400 --> 00:08:24,920 Speaker 4: about the housing market, man, I get a rush because 158 00:08:25,080 --> 00:08:28,120 Speaker 4: I already know it's just a matter of time before 159 00:08:28,160 --> 00:08:31,200 Speaker 4: the floodgates open, and there's going to be a lot 160 00:08:31,200 --> 00:08:33,560 Speaker 4: of buyers that are going to hit the market once 161 00:08:33,600 --> 00:08:36,720 Speaker 4: they start seeing rates in that mid low fives on 162 00:08:36,760 --> 00:08:38,640 Speaker 4: a regular basis, and that's just going to bring a 163 00:08:38,640 --> 00:08:41,760 Speaker 4: lot more competition out there. So I think rates by 164 00:08:41,920 --> 00:08:45,240 Speaker 4: this time next year, by twenty twenty seven, we might 165 00:08:45,280 --> 00:08:47,760 Speaker 4: be in the high fours low fives. 166 00:08:48,600 --> 00:08:49,520 Speaker 1: Really beautiful thing. 167 00:08:50,240 --> 00:08:53,439 Speaker 5: Okay, how much do you think appreciation what happened in houses? 168 00:08:53,520 --> 00:08:56,920 Speaker 5: And then for anyone who's new tonight and maybe they 169 00:08:56,920 --> 00:09:00,200 Speaker 5: haven't heard you speak, that's now a perfect time time 170 00:09:00,720 --> 00:09:03,400 Speaker 5: to buy, and can you talk to them about how 171 00:09:03,440 --> 00:09:05,439 Speaker 5: important it is it is to not miss out on 172 00:09:05,520 --> 00:09:08,440 Speaker 5: this opportunity because the prices of homes have gone up 173 00:09:08,440 --> 00:09:09,959 Speaker 5: so much in the last five or six years. 174 00:09:10,559 --> 00:09:12,480 Speaker 4: So that's a good question. I think there's always an 175 00:09:12,480 --> 00:09:14,480 Speaker 4: opportunity cost for anything that you do. 176 00:09:15,200 --> 00:09:15,400 Speaker 1: Right. 177 00:09:16,280 --> 00:09:18,640 Speaker 4: A good friend of ours hit me up tonight, was 178 00:09:18,679 --> 00:09:20,920 Speaker 4: telling me he just got an offer in the house 179 00:09:20,960 --> 00:09:23,160 Speaker 4: that he's not even trying to sell for a million 180 00:09:23,200 --> 00:09:24,680 Speaker 4: dollars more than. 181 00:09:24,520 --> 00:09:28,040 Speaker 1: What he paid for two years ago. Right, that's funny. 182 00:09:28,160 --> 00:09:28,920 Speaker 1: Told Nicole, you. 183 00:09:30,480 --> 00:09:35,559 Speaker 4: Shout out to the good friend, right, he called you too. 184 00:09:36,559 --> 00:09:38,480 Speaker 1: Yo, distribling friend is. 185 00:09:38,480 --> 00:09:40,280 Speaker 4: Making his rounds and calling the experts. 186 00:09:40,880 --> 00:09:41,760 Speaker 1: You know what I'm saying. 187 00:09:42,240 --> 00:09:45,800 Speaker 4: But like, and guys, I'm glad and this I didn't 188 00:09:45,800 --> 00:09:49,439 Speaker 4: know he called y'all right, But that's just what's happening. 189 00:09:49,480 --> 00:09:53,400 Speaker 4: He has time in the market and people are out 190 00:09:53,480 --> 00:09:55,560 Speaker 4: there wanting to buy. And we're not talking about, you know, 191 00:09:55,679 --> 00:09:58,199 Speaker 4: a small house. We're talking about, you know, a multi 192 00:09:58,280 --> 00:10:03,160 Speaker 4: million dollar home. So if folks are new to me, 193 00:10:03,520 --> 00:10:07,600 Speaker 4: please understand there's no better time to buy real estate 194 00:10:07,760 --> 00:10:10,520 Speaker 4: than when you can afford to buy it. I don't 195 00:10:10,559 --> 00:10:12,480 Speaker 4: care what the market is doing. You got to look 196 00:10:12,520 --> 00:10:16,000 Speaker 4: at your individual goals right, look at your credit, look 197 00:10:16,040 --> 00:10:19,040 Speaker 4: at your assets, look at your income, your job security 198 00:10:19,120 --> 00:10:22,040 Speaker 4: if you're self employed, look at your business, look at 199 00:10:22,080 --> 00:10:24,600 Speaker 4: your net if you're self employed, to see if you 200 00:10:24,600 --> 00:10:28,200 Speaker 4: can really afford it. Because homes are not just your 201 00:10:28,240 --> 00:10:32,240 Speaker 4: mortgage payment. You have expenses that come with maintaining that house. 202 00:10:32,520 --> 00:10:35,960 Speaker 4: And especially the way taxes and insurance are increasing rapidly 203 00:10:36,480 --> 00:10:39,720 Speaker 4: across America, it's not about what that payment is for 204 00:10:39,760 --> 00:10:41,440 Speaker 4: your first year. You got to be looking at five 205 00:10:41,520 --> 00:10:45,280 Speaker 4: years down the road. So if you can afford real estate, 206 00:10:45,559 --> 00:10:49,080 Speaker 4: then I believe absolutely, you should go ahead and buy, 207 00:10:49,160 --> 00:10:53,360 Speaker 4: but buy smart, right stop buying at market prices, stop 208 00:10:53,400 --> 00:10:56,320 Speaker 4: buying at these retail prices. You can look on Zilo 209 00:10:56,440 --> 00:10:58,439 Speaker 4: and MLS and work with relators, but you got to 210 00:10:58,520 --> 00:11:01,839 Speaker 4: learn the art of negotiation. Right now, the ball is 211 00:11:01,880 --> 00:11:04,839 Speaker 4: in your court as a buyer, but that is going 212 00:11:04,880 --> 00:11:07,439 Speaker 4: to be short lived if these rates go down, because 213 00:11:07,440 --> 00:11:09,679 Speaker 4: as these rates go down, it's going to bring more 214 00:11:09,720 --> 00:11:13,520 Speaker 4: buyers into the market, which is going to create bidding wars. 215 00:11:13,559 --> 00:11:15,240 Speaker 4: And I don't want to hear nobody in the comments 216 00:11:15,240 --> 00:11:17,080 Speaker 4: talking about, oh he's crazy. There ain't gonna be no 217 00:11:17,080 --> 00:11:19,079 Speaker 4: benning wars. You act some rotors in some of these 218 00:11:19,120 --> 00:11:22,480 Speaker 4: markets today, they still have bidding wars happening and they 219 00:11:22,520 --> 00:11:24,600 Speaker 4: haven't dropped down over the past couple of years. 220 00:11:24,640 --> 00:11:24,880 Speaker 1: Now. 221 00:11:25,280 --> 00:11:28,480 Speaker 4: Every market is different, every market is local. But you know, 222 00:11:28,520 --> 00:11:31,520 Speaker 4: I definitely think people should definitely buy if you can 223 00:11:31,600 --> 00:11:33,280 Speaker 4: afford to buy. 224 00:11:33,840 --> 00:11:41,320 Speaker 3: Real estate is fastly becoming a luxury item. The average 225 00:11:41,320 --> 00:11:43,760 Speaker 3: home first time home buyers in their forties. 226 00:11:44,440 --> 00:11:45,839 Speaker 1: But the first time ever. 227 00:11:47,840 --> 00:11:50,199 Speaker 3: Less and less people are buying home can afford to 228 00:11:50,240 --> 00:11:52,880 Speaker 3: buy a home. So okay for the people that said okay, 229 00:11:53,240 --> 00:11:56,040 Speaker 3: I understand real estate's an investment in Da da DA, 230 00:11:56,160 --> 00:11:59,360 Speaker 3: You know, but how can you how can you buy 231 00:11:59,360 --> 00:12:03,000 Speaker 3: a home? How can the average person buy a home 232 00:12:04,200 --> 00:12:08,079 Speaker 3: in today's economy? Like, what are some programs? What are 233 00:12:08,080 --> 00:12:10,680 Speaker 3: some tips, what are some hacks? What is some advice 234 00:12:10,720 --> 00:12:15,400 Speaker 3: that you would give somebody that just feels defeated in 235 00:12:15,520 --> 00:12:17,120 Speaker 3: the marketplace? 236 00:12:18,280 --> 00:12:23,280 Speaker 4: Good question if you feel defeated and you don't know 237 00:12:23,320 --> 00:12:25,280 Speaker 4: if you can afford to buy the home, because let's 238 00:12:25,280 --> 00:12:30,319 Speaker 4: face it, affordability is definitely an issue in most cases. 239 00:12:30,360 --> 00:12:32,280 Speaker 4: But I'm gonna be real with you, guys. I've been 240 00:12:32,280 --> 00:12:35,120 Speaker 4: doing this for twenty three years. Twenty twenty six makes 241 00:12:35,160 --> 00:12:38,360 Speaker 4: twenty three years. I've been in the mortgage business. I'm 242 00:12:38,360 --> 00:12:41,080 Speaker 4: not just a content creator. I am a licensed professional. 243 00:12:41,720 --> 00:12:44,240 Speaker 4: Allow me to reintroduce myself Matt Garland, and I'm a 244 00:12:44,320 --> 00:12:47,400 Speaker 4: less number five eight seven zero zero, better known as 245 00:12:47,520 --> 00:12:49,840 Speaker 4: MG the Mortgage Guy. I've been doing this for a 246 00:12:49,880 --> 00:12:52,600 Speaker 4: long time. This is my Jordan year, and since I've 247 00:12:52,640 --> 00:12:56,280 Speaker 4: been in this game, people couldn't afford the house. There's 248 00:12:56,320 --> 00:12:58,920 Speaker 4: always been an affordability issue, just depending on where you 249 00:12:58,960 --> 00:13:02,160 Speaker 4: lived and where your income. I think where people gotta focus. 250 00:13:02,240 --> 00:13:04,680 Speaker 4: If you can't afford to buy a house right now. 251 00:13:04,800 --> 00:13:09,720 Speaker 4: That's okay, learn how the trade and watch market mondays 252 00:13:10,160 --> 00:13:14,040 Speaker 4: exacting me, and learn how to create another source of 253 00:13:14,080 --> 00:13:17,079 Speaker 4: income like you guys were talking about all these great 254 00:13:17,080 --> 00:13:21,240 Speaker 4: stocks earlier. Right, let's talk MU, right because Troy hit 255 00:13:21,320 --> 00:13:23,520 Speaker 4: me a couple of weeks ago about MU. And I'm 256 00:13:23,520 --> 00:13:27,320 Speaker 4: gonna just keep very transparent with everybody here tonight. We 257 00:13:27,360 --> 00:13:29,880 Speaker 4: have how many people and most fifty five hundred people 258 00:13:29,920 --> 00:13:32,440 Speaker 4: watching us live right now. When I looked at the 259 00:13:32,520 --> 00:13:35,080 Speaker 4: contract price, I kind of took a step back. I said, 260 00:13:35,080 --> 00:13:38,679 Speaker 4: only smokes, this thing is expensive, and I think it 261 00:13:38,720 --> 00:13:42,120 Speaker 4: was at like two sixty at that moment. Troy and 262 00:13:42,240 --> 00:13:44,440 Speaker 4: I texted her, I say, yo, bro, I got a 263 00:13:44,480 --> 00:13:45,880 Speaker 4: lot going on. I don't know if I want to 264 00:13:45,880 --> 00:13:47,840 Speaker 4: buy a couple contracts of this right now. But what 265 00:13:47,920 --> 00:13:49,640 Speaker 4: I said to myself, I said, you know what, Matt, 266 00:13:50,200 --> 00:13:52,559 Speaker 4: scare money, don't make money, Let me at least put 267 00:13:52,600 --> 00:13:55,320 Speaker 4: it in the stock. Let me not buy some contracts 268 00:13:55,520 --> 00:13:58,400 Speaker 4: because this is a long term play. So I'll start 269 00:13:58,400 --> 00:14:02,359 Speaker 4: feeding my long term fit. And I put a couple 270 00:14:02,520 --> 00:14:05,320 Speaker 4: dollars into it so that way I can have time 271 00:14:05,360 --> 00:14:07,520 Speaker 4: in the market. Even though I didn't go for the 272 00:14:07,559 --> 00:14:11,440 Speaker 4: options I went for the stock and fed my long 273 00:14:11,520 --> 00:14:14,959 Speaker 4: term portfolio. That one stock right now is up twenty 274 00:14:15,040 --> 00:14:18,560 Speaker 4: nine percent since I purchased it, and I have some 275 00:14:18,760 --> 00:14:21,960 Speaker 4: gains right now. So if you're someone who cannot afford 276 00:14:21,960 --> 00:14:25,240 Speaker 4: a home and maybe you have ten thousand, you have fifteen, 277 00:14:25,320 --> 00:14:28,440 Speaker 4: you have twenty thousand. You have shows like Market Monday 278 00:14:28,440 --> 00:14:31,360 Speaker 4: out here that's teaching you every single week for free 279 00:14:32,600 --> 00:14:37,360 Speaker 4: and giving you plays and things that you can now 280 00:14:37,440 --> 00:14:40,640 Speaker 4: go ahead and research and now you can make extra money. 281 00:14:41,120 --> 00:14:44,000 Speaker 4: Right So that's for that crowd. For the folks who 282 00:14:44,040 --> 00:14:47,400 Speaker 4: don't have the money, who may have limited savings, you 283 00:14:47,520 --> 00:14:49,640 Speaker 4: have to learn how to invest and pick up this 284 00:14:49,800 --> 00:14:52,800 Speaker 4: skill set. Because even for myself, y'all, and I'm being 285 00:14:52,920 --> 00:14:55,640 Speaker 4: very transparent with y'all, when I saw that, I say, 286 00:14:55,720 --> 00:14:58,920 Speaker 4: you know what, Troy, this is my year when I'm 287 00:14:58,960 --> 00:15:01,760 Speaker 4: going to learn this game like I know real estate, 288 00:15:01,920 --> 00:15:04,600 Speaker 4: and by this time next year, I'm going to beat 289 00:15:04,600 --> 00:15:07,040 Speaker 4: the SMP by landslide. I even told y'all when I 290 00:15:07,040 --> 00:15:09,000 Speaker 4: came on this backstage, like this is my year to 291 00:15:09,000 --> 00:15:12,880 Speaker 4: beat the SMP by landslide. Because I am a believer 292 00:15:13,000 --> 00:15:15,120 Speaker 4: in this, and I'm a believer in y'all, teaching right, 293 00:15:15,160 --> 00:15:17,240 Speaker 4: So that's number one with shard learn how to learn 294 00:15:17,240 --> 00:15:19,920 Speaker 4: a skill set to make more money. Now, if you 295 00:15:20,040 --> 00:15:24,400 Speaker 4: are someone who can buy a house, but you feel 296 00:15:24,520 --> 00:15:27,680 Speaker 4: like it's still not affordable and you might not want 297 00:15:27,720 --> 00:15:29,880 Speaker 4: to be the person who wants to house hack your 298 00:15:29,880 --> 00:15:31,840 Speaker 4: way to wealth and do the four three two one 299 00:15:31,880 --> 00:15:37,359 Speaker 4: strategy or buy multifamilies and things like that. Well, the 300 00:15:37,360 --> 00:15:43,920 Speaker 4: the zonning laws are changing nationwide where many cities and 301 00:15:44,040 --> 00:15:48,600 Speaker 4: states are now allowing not just for one ADU. A ADU, 302 00:15:48,680 --> 00:15:51,040 Speaker 4: for those who don't know, is a necessory dwelling unit 303 00:15:51,320 --> 00:15:53,960 Speaker 4: is basically like a tiny home in your house on 304 00:15:54,040 --> 00:15:57,400 Speaker 4: your house, on your property right. So many of us 305 00:15:57,440 --> 00:16:00,720 Speaker 4: live in these states where even New York approve where 306 00:16:00,760 --> 00:16:03,440 Speaker 4: you can have an ADU in your backyard or convert 307 00:16:03,480 --> 00:16:07,400 Speaker 4: your basement into an ADU right because they understand affordability 308 00:16:07,440 --> 00:16:12,600 Speaker 4: is an issue. These states have these options to where 309 00:16:12,640 --> 00:16:16,400 Speaker 4: you can have ADUs. But Fanny may just came out 310 00:16:16,520 --> 00:16:19,720 Speaker 4: a couple of weeks ago and now they have expanded 311 00:16:20,000 --> 00:16:24,240 Speaker 4: their ADU rules which allows you now and they will 312 00:16:24,280 --> 00:16:27,320 Speaker 4: give you the money for rehab as well, where you 313 00:16:27,400 --> 00:16:30,760 Speaker 4: can now have a single family unit and put up 314 00:16:30,800 --> 00:16:37,320 Speaker 4: to two ADUs on that property right, and Fanny May 315 00:16:37,320 --> 00:16:40,760 Speaker 4: will allow you to use one of the adu's rent 316 00:16:40,760 --> 00:16:43,280 Speaker 4: at least thirty percent of that rent to allow you 317 00:16:43,320 --> 00:16:47,280 Speaker 4: to qualify for the mortgage as well. So if you're 318 00:16:47,320 --> 00:16:51,280 Speaker 4: buying a primary residence and you have the capability in 319 00:16:51,280 --> 00:16:53,760 Speaker 4: the town, allows you to have an ADU, whether it's 320 00:16:54,800 --> 00:16:58,960 Speaker 4: a detached garage, attached garage, a basement, you can build 321 00:16:59,000 --> 00:17:02,480 Speaker 4: it on your pro This is a great way for 322 00:17:02,640 --> 00:17:06,440 Speaker 4: someone who probably can't afford to live on their own 323 00:17:06,560 --> 00:17:09,560 Speaker 4: or afford that mortgage one hundred percent to now supplement 324 00:17:09,600 --> 00:17:12,560 Speaker 4: their income on a single family And if you are 325 00:17:12,640 --> 00:17:15,560 Speaker 4: someone who lives in an area where there's a lot 326 00:17:15,600 --> 00:17:19,479 Speaker 4: of duplexes, fanny May allows you to now put up 327 00:17:19,480 --> 00:17:22,920 Speaker 4: to two eighty us on that duplex as well, as 328 00:17:22,920 --> 00:17:26,640 Speaker 4: long as you don't exceed four tonal units on the property. 329 00:17:27,000 --> 00:17:29,520 Speaker 4: So what we're starting to see on the mortgage side, 330 00:17:30,080 --> 00:17:33,239 Speaker 4: mortgage guidelines are now starting to catch up with the 331 00:17:33,280 --> 00:17:39,760 Speaker 4: times because they've realized Fanning made Freddie mac FHFA. They've 332 00:17:39,840 --> 00:17:43,119 Speaker 4: realized that the times are changing and we have to 333 00:17:43,160 --> 00:17:46,480 Speaker 4: make things happen for the consumer in today's twenty twenty 334 00:17:46,560 --> 00:17:48,600 Speaker 4: six markets. So to me, I think this is a 335 00:17:48,640 --> 00:17:50,800 Speaker 4: home run and you can get one hundred percent of 336 00:17:50,800 --> 00:17:54,240 Speaker 4: your rehab course. This is a game changer right here. 337 00:17:54,480 --> 00:17:55,679 Speaker 3: Well, let me let me just follo up with if 338 00:17:55,720 --> 00:17:58,399 Speaker 3: I can't, because what do you think about from a 339 00:17:58,440 --> 00:18:02,960 Speaker 3: standpoint of a group buying as far as like you 340 00:18:03,200 --> 00:18:07,080 Speaker 3: actually you you deal with people that get mortgages, right, 341 00:18:07,119 --> 00:18:08,879 Speaker 3: So I'm interested to see your perspective as far as 342 00:18:08,880 --> 00:18:12,760 Speaker 3: I'm assuming a lot of your clients are black, because 343 00:18:12,840 --> 00:18:15,240 Speaker 3: I'll never forget. In our neighborhood, it was a house 344 00:18:16,119 --> 00:18:20,480 Speaker 3: a Mexican family moved in years ago, and it was 345 00:18:20,520 --> 00:18:22,800 Speaker 3: a joke at first because it was like eight cars 346 00:18:22,840 --> 00:18:25,840 Speaker 3: in the in the in the driveway. But then every 347 00:18:25,880 --> 00:18:29,520 Speaker 3: year the house got bigger and then eventually there was 348 00:18:29,560 --> 00:18:30,960 Speaker 3: there wasn't as many cars. 349 00:18:31,240 --> 00:18:35,200 Speaker 1: So hm other communities by. 350 00:18:35,200 --> 00:18:40,680 Speaker 3: Real estate in tandem like and then they live in 351 00:18:40,760 --> 00:18:44,280 Speaker 3: it together and then they might refine the answer, get 352 00:18:44,320 --> 00:18:46,240 Speaker 3: on their feet and then they I don't really see 353 00:18:46,280 --> 00:18:50,480 Speaker 3: too many people in our community do that. So is 354 00:18:50,520 --> 00:18:54,439 Speaker 3: that something that I think needs to at least be 355 00:18:54,520 --> 00:18:56,920 Speaker 3: thought about. And another thing that needs to be thought 356 00:18:56,920 --> 00:19:00,000 Speaker 3: about as well is the encouragement of marriage. 357 00:19:01,160 --> 00:19:02,280 Speaker 1: If anythink about it. 358 00:19:03,440 --> 00:19:05,480 Speaker 3: Marriage is something a lot of people think, like you, 359 00:19:06,080 --> 00:19:08,040 Speaker 3: if you don't have money, you can't afford to be married. 360 00:19:08,160 --> 00:19:09,720 Speaker 1: It's actually the exact opposite. 361 00:19:09,960 --> 00:19:14,199 Speaker 3: If you're on the lower economic spectrum, that's like one 362 00:19:14,240 --> 00:19:16,240 Speaker 3: of the first things you should do because that's actually 363 00:19:16,280 --> 00:19:18,760 Speaker 3: going to help your situation from an economic standpoints. Two 364 00:19:18,760 --> 00:19:22,200 Speaker 3: incomes as opposed to one, like the less money you have, 365 00:19:22,280 --> 00:19:24,760 Speaker 3: that should be the more reason why you're actually getting married. 366 00:19:25,480 --> 00:19:25,920 Speaker 1: Facts. 367 00:19:26,400 --> 00:19:29,159 Speaker 3: But you see this, So what do you think from 368 00:19:29,200 --> 00:19:32,400 Speaker 3: just from that social construct? 369 00:19:33,920 --> 00:19:37,400 Speaker 4: Man, I think it's Look, if we look at Hispanic 370 00:19:37,400 --> 00:19:39,640 Speaker 4: brothers and sisters, they've been doing this for decades. 371 00:19:39,680 --> 00:19:41,480 Speaker 1: This is nothing right. 372 00:19:42,280 --> 00:19:45,400 Speaker 4: This is something that's been happening all over New York 373 00:19:45,400 --> 00:19:48,960 Speaker 4: where we're from. I love it personally. It gives you 374 00:19:49,040 --> 00:19:54,800 Speaker 4: the opportunity to have group economics, right. It's just another 375 00:19:54,920 --> 00:19:55,439 Speaker 4: form of it. 376 00:19:55,800 --> 00:19:56,040 Speaker 1: Now. 377 00:19:56,080 --> 00:20:01,000 Speaker 4: Obviously, you got to have your paperwork together, you have 378 00:20:01,160 --> 00:20:03,639 Speaker 4: your agreements, you know, having an attorney kind of write 379 00:20:03,640 --> 00:20:08,280 Speaker 4: something up and make sure that you're protecting your interests 380 00:20:08,320 --> 00:20:11,800 Speaker 4: as well. But we're starting to see more co buying 381 00:20:12,920 --> 00:20:16,679 Speaker 4: that's happening, especially if you can get a duplex, you know, 382 00:20:16,720 --> 00:20:20,720 Speaker 4: you have basically two families and two households are putting 383 00:20:20,720 --> 00:20:24,159 Speaker 4: their money together and now they're in the duplex and 384 00:20:24,240 --> 00:20:28,960 Speaker 4: each has one side, right, So I love it, Rashard. 385 00:20:29,160 --> 00:20:31,720 Speaker 4: I think it's something that we're going to continue to 386 00:20:31,760 --> 00:20:34,520 Speaker 4: see a trend. I'm starting to see a lot more 387 00:20:34,680 --> 00:20:38,520 Speaker 4: marketing around that, like where we're starting to have more 388 00:20:38,560 --> 00:20:43,000 Speaker 4: like family compounds, and I'm starting to see more listings 389 00:20:43,040 --> 00:20:45,159 Speaker 4: being sold like that. Shout out to Boosy too. I 390 00:20:45,200 --> 00:20:47,320 Speaker 4: know Boosi has a family compound. He brought a couple 391 00:20:47,320 --> 00:20:49,919 Speaker 4: of acres and now he's building like a whole neighborhood 392 00:20:49,960 --> 00:20:52,240 Speaker 4: just for him and his kids and his family. But 393 00:20:52,640 --> 00:20:55,760 Speaker 4: even if you see just regular houses, I've seen a 394 00:20:55,760 --> 00:20:59,880 Speaker 4: lot on TikTok just in Florida, like a multi generational living, right, 395 00:21:00,119 --> 00:21:02,440 Speaker 4: Like that's just becoming a thing because it's just more 396 00:21:02,440 --> 00:21:07,359 Speaker 4: affordable for everyone to live under the same roof. Because look, 397 00:21:08,119 --> 00:21:11,639 Speaker 4: you said earlier, Rashard, that housing is a luxury, I 398 00:21:12,240 --> 00:21:14,760 Speaker 4: think the opposite is a necessity because if you don't 399 00:21:14,880 --> 00:21:18,320 Speaker 4: have a home, or if you don't rent somewhere where, 400 00:21:18,320 --> 00:21:22,359 Speaker 4: you're gonna be homeless. Right, So it's like home is 401 00:21:22,720 --> 00:21:26,119 Speaker 4: a luxury, correct, correct, correct, But being I own to 402 00:21:26,160 --> 00:21:29,680 Speaker 4: Being a homeowner is definitely a luxury, but I think 403 00:21:29,720 --> 00:21:34,080 Speaker 4: it's also a necessity in my opinion, right because I'm 404 00:21:34,200 --> 00:21:39,800 Speaker 4: just an advocate of ownership, just me personally, and I 405 00:21:39,960 --> 00:21:45,200 Speaker 4: encourage people to buy by smart and if co ownership 406 00:21:45,400 --> 00:21:50,560 Speaker 4: multi generational living situations works for you in yours, then 407 00:21:50,720 --> 00:21:54,120 Speaker 4: I am one hundred percent with it, as long as 408 00:21:54,160 --> 00:21:55,680 Speaker 4: you got your paperwork. 409 00:21:55,160 --> 00:21:58,560 Speaker 1: Together, because Indian Indians do that a lot. 410 00:21:58,600 --> 00:22:02,200 Speaker 4: Also, the Indians do it a lot in Queen's too, 411 00:22:03,040 --> 00:22:05,080 Speaker 4: And like you said, it'd be like a whole three 412 00:22:05,240 --> 00:22:08,119 Speaker 4: four families living in a one single family, four or 413 00:22:08,160 --> 00:22:10,600 Speaker 4: five bedroom house and they chopped the whole house up 414 00:22:11,280 --> 00:22:14,240 Speaker 4: and they stack their money, then they help the other 415 00:22:14,280 --> 00:22:16,600 Speaker 4: person get the other house, and then it just continues 416 00:22:16,640 --> 00:22:19,399 Speaker 4: the cycle, and you look up five years everybody is 417 00:22:19,400 --> 00:22:23,439 Speaker 4: a homeowner, right. I just think in our community we 418 00:22:23,480 --> 00:22:25,960 Speaker 4: have too much ego and too much pride and we 419 00:22:26,040 --> 00:22:28,000 Speaker 4: need to cut that. We need to leave that back 420 00:22:28,040 --> 00:22:32,359 Speaker 4: in twenty twenty five and be smart about buying real estate. 421 00:22:33,240 --> 00:22:33,400 Speaker 1: MG. 422 00:22:34,000 --> 00:22:36,080 Speaker 2: Something happened last week I would love to get your 423 00:22:36,080 --> 00:22:39,720 Speaker 2: opinion on. We saw the administration put a ban on 424 00:22:39,800 --> 00:22:42,960 Speaker 2: large institutional investors from buying single family homes. I want 425 00:22:42,960 --> 00:22:45,120 Speaker 2: to know your thoughts, good, bad, and different. What does 426 00:22:45,160 --> 00:22:47,719 Speaker 2: that mean for pricing, what does it mean for inventory? 427 00:22:48,800 --> 00:22:49,720 Speaker 2: Just your thoughts around it. 428 00:22:51,720 --> 00:22:55,439 Speaker 4: They talking about it, but nothing has happened yet. I 429 00:22:55,480 --> 00:22:59,560 Speaker 4: think if you really look at institutional investors, and when 430 00:22:59,600 --> 00:23:02,919 Speaker 4: I'm saying institutional investors, I'm saying folks who own a 431 00:23:03,000 --> 00:23:07,600 Speaker 4: thousand plus units, that's only one percent of the buyer pool, right, 432 00:23:07,680 --> 00:23:09,880 Speaker 4: I think everybody, let's call a space to space, right, 433 00:23:09,920 --> 00:23:12,880 Speaker 4: And folks probably may't going to like what I'm about 434 00:23:12,880 --> 00:23:16,600 Speaker 4: to say right now, but like, if you look at 435 00:23:17,760 --> 00:23:21,080 Speaker 4: institutional vestor, it's a small piece of the verall pot 436 00:23:21,280 --> 00:23:24,960 Speaker 4: of what's being purchased right now. In certain states like 437 00:23:25,040 --> 00:23:29,760 Speaker 4: Atlanta and sunbelt states like Arizona, things like that, you 438 00:23:29,840 --> 00:23:33,000 Speaker 4: might have a higher population, you know, certain parts of Florida, 439 00:23:33,320 --> 00:23:39,280 Speaker 4: a higher population of institutional investors buying up real estate. 440 00:23:39,520 --> 00:23:42,080 Speaker 4: But if you look at the grand scheme of things, 441 00:23:42,480 --> 00:23:46,399 Speaker 4: there are more mom and pop investors buying investment properties 442 00:23:46,440 --> 00:23:50,600 Speaker 4: than there are institutional vestors. And for me, I'm curious 443 00:23:50,640 --> 00:23:53,680 Speaker 4: to see how they would regulate that or what's going 444 00:23:53,760 --> 00:23:58,760 Speaker 4: to be the government's definition of institutional investors. Me personally, 445 00:23:59,280 --> 00:24:04,000 Speaker 4: I think these institutional vestors are smart and they're going 446 00:24:04,080 --> 00:24:06,280 Speaker 4: to find a loophole and they're still going to buy. 447 00:24:07,000 --> 00:24:09,960 Speaker 4: So I don't think it's going to stop anything. It 448 00:24:10,040 --> 00:24:13,480 Speaker 4: might slow down until they figure out all the mechanics 449 00:24:13,880 --> 00:24:16,800 Speaker 4: of how to get around it, but I don't think 450 00:24:16,840 --> 00:24:19,000 Speaker 4: it's going to stop anything. I think it's good for 451 00:24:19,119 --> 00:24:21,879 Speaker 4: the press, and I think it's good for you know, 452 00:24:21,960 --> 00:24:26,199 Speaker 4: trying to get votes, and it's a short term. I 453 00:24:26,200 --> 00:24:29,359 Speaker 4: think it's good market manipulation too. At the same time, 454 00:24:29,880 --> 00:24:31,639 Speaker 4: I mean, I think we got to pay attention to 455 00:24:31,640 --> 00:24:35,160 Speaker 4: that because who are these institutional vestors. They're the ones 456 00:24:35,160 --> 00:24:37,439 Speaker 4: who are putting their the biggest donors too at the 457 00:24:37,440 --> 00:24:41,080 Speaker 4: same time, So you think, guys, let's be real here, 458 00:24:41,160 --> 00:24:43,960 Speaker 4: do you think the money is going to let let 459 00:24:44,000 --> 00:24:48,200 Speaker 4: anybody stop them from getting money? Like that's going to 460 00:24:48,320 --> 00:24:52,080 Speaker 4: hurt folks politically when it comes to raising funds. Right, 461 00:24:52,119 --> 00:24:54,720 Speaker 4: These are the masters of the universe for crying out loud. 462 00:24:55,160 --> 00:24:58,720 Speaker 4: So like, you got to really look at what's really happening. 463 00:24:58,840 --> 00:25:01,680 Speaker 4: And I don't think it it's really going to do much. 464 00:25:02,119 --> 00:25:04,680 Speaker 4: I think, if anything, once you start having that level 465 00:25:04,760 --> 00:25:08,119 Speaker 4: of government intervention, there's nothing stopping them from trying to 466 00:25:08,160 --> 00:25:11,760 Speaker 4: stop the everyday mom and pop like us from buying homes. 467 00:25:11,760 --> 00:25:13,879 Speaker 4: What if they come back and say, well, if you 468 00:25:13,960 --> 00:25:17,760 Speaker 4: buy over fifty units, you are now institutional. 469 00:25:17,200 --> 00:25:18,240 Speaker 1: Vestor or government. 470 00:25:18,960 --> 00:25:22,359 Speaker 4: Now we're all screwed because everybody wants to well, not 471 00:25:22,400 --> 00:25:24,640 Speaker 4: going to say everybody, but most people. As you start 472 00:25:24,680 --> 00:25:26,840 Speaker 4: growing and growing, you want to continue to grow and 473 00:25:26,880 --> 00:25:27,679 Speaker 4: grow and scale. 474 00:25:27,720 --> 00:25:28,840 Speaker 1: Why not? Right? 475 00:25:28,920 --> 00:25:33,920 Speaker 4: So me personally, I want to see how that plays out. 476 00:25:34,040 --> 00:25:37,320 Speaker 4: But right now it's just a rant on social media. 477 00:25:39,520 --> 00:25:42,520 Speaker 5: Listen, I never heard you talk about this compound and 478 00:25:42,600 --> 00:25:48,199 Speaker 5: generational multifamily house play, right, how do you structure Let's say, 479 00:25:48,240 --> 00:25:51,200 Speaker 5: I want about compound for me Xander, my mom, dad, cousins. 480 00:25:52,320 --> 00:25:54,439 Speaker 5: In terms of financing, how do you structure that? 481 00:25:55,400 --> 00:26:00,280 Speaker 4: Good question? Good question? So first, first things first, you 482 00:26:00,359 --> 00:26:03,119 Speaker 4: will have to get a First of all, you have 483 00:26:03,160 --> 00:26:05,399 Speaker 4: to find the land that can fulfill that. 484 00:26:05,560 --> 00:26:05,800 Speaker 1: Right. 485 00:26:05,960 --> 00:26:09,320 Speaker 4: And let's just say, if you're going under ten acres, 486 00:26:09,480 --> 00:26:14,480 Speaker 4: under ten acres is easier to get funding. If you 487 00:26:14,560 --> 00:26:18,280 Speaker 4: want good financing, like good construction loans, you know, a 488 00:26:18,440 --> 00:26:20,920 Speaker 4: paper type of rates and stuff like that, under ten 489 00:26:21,040 --> 00:26:25,600 Speaker 4: acres is doable. You have to get a construction loan 490 00:26:26,440 --> 00:26:28,360 Speaker 4: to do something like that, you probably won't be able 491 00:26:28,400 --> 00:26:30,399 Speaker 4: to get a construction a permanent loan, but you'll have 492 00:26:30,440 --> 00:26:33,480 Speaker 4: to get a construction loan, which is typically like twelve 493 00:26:33,520 --> 00:26:36,399 Speaker 4: to eighteen months. But most lenders who are going to 494 00:26:36,480 --> 00:26:39,439 Speaker 4: do something like that, they're going to fund the first 495 00:26:39,480 --> 00:26:43,320 Speaker 4: initial house, right that primary house is. 496 00:26:43,320 --> 00:26:44,000 Speaker 1: Going to be the one. 497 00:26:44,000 --> 00:26:46,800 Speaker 4: You're going to get the construction loan and build that up, 498 00:26:47,040 --> 00:26:48,960 Speaker 4: and then when you want to do the other other 499 00:26:49,080 --> 00:26:52,240 Speaker 4: homes on there, you will have to get separate loans 500 00:26:52,760 --> 00:26:54,920 Speaker 4: for those if you you know, if you want to 501 00:26:54,960 --> 00:26:58,040 Speaker 4: get financing for it, you'll have to get loans for 502 00:26:58,160 --> 00:27:01,880 Speaker 4: those properties to now do the constructuction for that as well. 503 00:27:01,960 --> 00:27:06,240 Speaker 4: So it's not something that I've seen happen like right 504 00:27:06,280 --> 00:27:10,680 Speaker 4: away when people are doing these family compounds. That's why look, 505 00:27:10,800 --> 00:27:13,159 Speaker 4: look how many years Boosey has been talking about the 506 00:27:13,200 --> 00:27:16,560 Speaker 4: family compounds that he's been slowly but surely just building building, 507 00:27:16,640 --> 00:27:19,320 Speaker 4: building it right, adding to it, adding to it. It's 508 00:27:19,320 --> 00:27:24,040 Speaker 4: something that takes time and a lot of capital because construction, 509 00:27:24,160 --> 00:27:26,199 Speaker 4: even if you are getting loan, you're always paying for 510 00:27:26,240 --> 00:27:29,080 Speaker 4: something out of pocket. So if someone is looking to 511 00:27:29,200 --> 00:27:33,600 Speaker 4: do a family compound, you gotta have some capital with 512 00:27:33,640 --> 00:27:35,919 Speaker 4: you because there's a lot of expenses out of pocket 513 00:27:35,920 --> 00:27:37,520 Speaker 4: that you're going to have to cover too. But it's 514 00:27:37,560 --> 00:27:40,160 Speaker 4: not too far fetchy, and it's it's something that we're 515 00:27:40,160 --> 00:27:44,960 Speaker 4: starting to see all over because there are there are 516 00:27:45,040 --> 00:27:48,600 Speaker 4: areas where you can get two, three, four five acres 517 00:27:49,119 --> 00:27:51,320 Speaker 4: and start building and build your compound. 518 00:27:54,400 --> 00:27:57,000 Speaker 3: The growing theme on social media is that it does 519 00:27:57,040 --> 00:27:59,720 Speaker 3: not make sense to buy a home to live in. 520 00:28:00,160 --> 00:28:01,960 Speaker 3: It makes sense to buy a home from real estate 521 00:28:01,960 --> 00:28:05,359 Speaker 3: from an investment standpoint. But if you should rent, you 522 00:28:05,400 --> 00:28:09,679 Speaker 3: should rent where you live. Invest your money stock market, 523 00:28:09,720 --> 00:28:13,439 Speaker 3: other investments. And if you do buy real estate the 524 00:28:13,560 --> 00:28:15,960 Speaker 3: real estate, that real estate should be an investment property. 525 00:28:16,320 --> 00:28:19,600 Speaker 3: Because you're not generating cash flow from where you live. 526 00:28:20,040 --> 00:28:23,480 Speaker 3: It's not a good investment. The taxes is going to 527 00:28:23,560 --> 00:28:26,359 Speaker 3: kill you over the course of time. What do you 528 00:28:26,400 --> 00:28:29,159 Speaker 3: say to the people Grant Cardon's champion this for a 529 00:28:29,200 --> 00:28:33,600 Speaker 3: long time that say you buying real estate and living 530 00:28:33,760 --> 00:28:37,000 Speaker 3: in that property that you buy is a bad decision. 531 00:28:40,160 --> 00:28:44,360 Speaker 4: Okay, let's talk about this. I'm glad you brought this up. 532 00:28:45,600 --> 00:28:49,720 Speaker 4: So first of all, rest in peace, doctor King. Right, 533 00:28:50,400 --> 00:28:56,160 Speaker 4: this is MKA dad. Everybody type MKA and Chat. Sixty 534 00:28:56,240 --> 00:29:01,640 Speaker 4: eight years ago, a week after Doctor King was assassinated, 535 00:29:02,120 --> 00:29:08,920 Speaker 4: they passed the Fair Housing Act. Right, we are now 536 00:29:08,960 --> 00:29:12,600 Speaker 4: what fifty eight years later, And if you look at 537 00:29:12,600 --> 00:29:16,840 Speaker 4: the home ownership rate, rashard forty two percent in nineteen 538 00:29:16,960 --> 00:29:19,360 Speaker 4: sixty eight, and if you look at twenty twenty five, 539 00:29:19,400 --> 00:29:23,920 Speaker 4: we're around forty four percent, forty five maybe, So in 540 00:29:24,000 --> 00:29:27,440 Speaker 4: fifty eight years, our homeownership rate only went up three 541 00:29:27,480 --> 00:29:33,280 Speaker 4: percent compared to our white counterparts like Grant Cardon, who 542 00:29:33,320 --> 00:29:36,480 Speaker 4: by the way, purchased his first home and if he's 543 00:29:36,560 --> 00:29:40,240 Speaker 4: vocal about how that got him started in real estate, right, 544 00:29:41,440 --> 00:29:44,920 Speaker 4: our white counterparts were in sixty eight, they were what 545 00:29:45,000 --> 00:29:49,000 Speaker 4: sixty five percent, and now today they're standing at seventy 546 00:29:49,080 --> 00:29:53,600 Speaker 4: five percent home ownership rate. So I think what we 547 00:29:53,720 --> 00:29:56,240 Speaker 4: have to start doing as black and brown people is 548 00:29:56,240 --> 00:29:58,920 Speaker 4: stop letting these people like Grant Cardon trick us out 549 00:29:58,960 --> 00:30:02,200 Speaker 4: of our generational wealth wealth, because these folks have their 550 00:30:02,320 --> 00:30:05,400 Speaker 4: generational wealth. And if you look at someone like Grand Cordon, 551 00:30:05,680 --> 00:30:08,520 Speaker 4: and I think Grant Cardon is a very smart business man, 552 00:30:09,080 --> 00:30:12,920 Speaker 4: but you have to look at everything with a grain 553 00:30:13,000 --> 00:30:16,560 Speaker 4: of salt. First of all, if you are a first 554 00:30:16,560 --> 00:30:19,720 Speaker 4: time home buyer and you are out here trying to 555 00:30:19,840 --> 00:30:26,760 Speaker 4: buy a rental property. First things first, banks don't like 556 00:30:26,840 --> 00:30:32,480 Speaker 4: you. You're first time home buyer. Banks don't like to fund 557 00:30:32,720 --> 00:30:36,360 Speaker 4: investors if they're a first time home buyer. And when 558 00:30:36,400 --> 00:30:39,280 Speaker 4: I hear folks say, oh, your first deal should be commercial, 559 00:30:39,280 --> 00:30:41,480 Speaker 4: it should be six units, it should be ten units, 560 00:30:41,880 --> 00:30:44,960 Speaker 4: you definitely ain't going to get no loan from doing 561 00:30:45,000 --> 00:30:47,280 Speaker 4: something like that because the banks don't want to mess 562 00:30:47,320 --> 00:30:50,480 Speaker 4: with a rookie. You have no skin in the game. 563 00:30:51,120 --> 00:30:53,720 Speaker 4: Where's your experience, right, So you have to look at 564 00:30:53,760 --> 00:30:56,560 Speaker 4: from a funding perspective. What they are saying, is that 565 00:30:56,640 --> 00:31:00,520 Speaker 4: even reality or is it just for likes? And now 566 00:31:00,560 --> 00:31:02,720 Speaker 4: what you're saying, Okay, your home is not an asset. 567 00:31:03,000 --> 00:31:05,640 Speaker 4: The expenses go up, it's going to keep you got 568 00:31:05,640 --> 00:31:07,960 Speaker 4: to keep paying for it. It's not an asset. But 569 00:31:08,560 --> 00:31:11,800 Speaker 4: if it grows in appreciation and you're able to tap 570 00:31:11,840 --> 00:31:17,640 Speaker 4: into that appreciation, pay for your college, pay for a business, right, 571 00:31:17,760 --> 00:31:20,320 Speaker 4: invest into other real estate, is it not still some 572 00:31:20,360 --> 00:31:22,960 Speaker 4: sort of an asset. Now I get the whole if 573 00:31:22,960 --> 00:31:27,960 Speaker 4: it's if it's not paying you, it's not technically an asset. 574 00:31:28,040 --> 00:31:30,520 Speaker 4: But I think as black and brown people. We can't 575 00:31:30,560 --> 00:31:34,800 Speaker 4: go by that. Our circumstances are completely different. Let's talk 576 00:31:34,840 --> 00:31:38,120 Speaker 4: about another thing. To buy a rental property, how much 577 00:31:38,160 --> 00:31:43,000 Speaker 4: down payment do you need? Twenty percent, thirty percent? Folks 578 00:31:43,080 --> 00:31:46,400 Speaker 4: can't even come up with three percent, So how how 579 00:31:46,520 --> 00:31:49,440 Speaker 4: do you think they're coming up with twenty percent, thirty percent, 580 00:31:49,520 --> 00:31:54,000 Speaker 4: forty percent down in today's market to buy an investment 581 00:31:54,080 --> 00:31:57,360 Speaker 4: property when they ain't got it. And then that's when 582 00:31:57,400 --> 00:32:00,840 Speaker 4: you see people doing all a credit card plays and 583 00:32:01,160 --> 00:32:04,640 Speaker 4: the business funding and now getting themselves into that matrix 584 00:32:04,760 --> 00:32:08,360 Speaker 4: of debt. Because, like you said, Rashot, I see this firsthand. 585 00:32:08,400 --> 00:32:12,120 Speaker 4: People call me every day all day crying about their 586 00:32:12,160 --> 00:32:16,160 Speaker 4: debt because they did all these different plays, or they 587 00:32:16,200 --> 00:32:18,280 Speaker 4: listened to this person and they thought it was going 588 00:32:18,360 --> 00:32:20,040 Speaker 4: to happen the way they thought it was going to happen, 589 00:32:20,320 --> 00:32:22,760 Speaker 4: like they said it was going to happen, and it didn't. Right, 590 00:32:22,840 --> 00:32:24,920 Speaker 4: So I think we got to take everything with a 591 00:32:24,960 --> 00:32:27,480 Speaker 4: grain of salt. And this is why I say said earlier, 592 00:32:27,760 --> 00:32:31,440 Speaker 4: you should only buy real estate if you can afford it. Right, 593 00:32:31,560 --> 00:32:35,720 Speaker 4: there's nothing wrong with renting, absolutely nothing wrong with Rython. 594 00:32:35,760 --> 00:32:38,200 Speaker 4: You need a place to live, and if you are 595 00:32:38,280 --> 00:32:41,440 Speaker 4: going to rent, I think you should look into real 596 00:32:41,560 --> 00:32:44,400 Speaker 4: estate investment and learn about real estate investment. And if 597 00:32:44,400 --> 00:32:47,719 Speaker 4: you have an opportunity to buy an investment property or 598 00:32:48,160 --> 00:32:51,840 Speaker 4: an investment property in a place like in like Ohio 599 00:32:52,120 --> 00:32:56,200 Speaker 4: or Michigan or somewhere where it's cheaper, and if you 600 00:32:56,200 --> 00:32:58,440 Speaker 4: don't have to put so much out of your pocket 601 00:32:58,480 --> 00:33:01,120 Speaker 4: to acquire it, and if you can get some sort 602 00:33:01,120 --> 00:33:04,840 Speaker 4: of funding for it, great, terrific, go for it. But 603 00:33:04,920 --> 00:33:09,040 Speaker 4: for the average person who is afraid of out of 604 00:33:09,040 --> 00:33:12,120 Speaker 4: state investor who don't live in these cities, who live 605 00:33:12,160 --> 00:33:15,160 Speaker 4: in New York, they live in DC, they live in LA, 606 00:33:15,280 --> 00:33:17,560 Speaker 4: they live in Florida, and they want to be in 607 00:33:17,640 --> 00:33:22,120 Speaker 4: their hometowns. Like, you're not buying an investment property first, 608 00:33:22,120 --> 00:33:24,560 Speaker 4: you can't afford to for the most part, you can 609 00:33:24,600 --> 00:33:27,560 Speaker 4: barely pay your down payment and closing course now. And 610 00:33:27,600 --> 00:33:31,320 Speaker 4: there's no down payment assistant for investors. And don't get 611 00:33:31,320 --> 00:33:34,280 Speaker 4: me started on trying to raise money like grant cardone 612 00:33:34,760 --> 00:33:38,640 Speaker 4: and a lot of these folks out here do like YO, 613 00:33:39,120 --> 00:33:41,040 Speaker 4: A lot of the shit that these people are saying 614 00:33:41,320 --> 00:33:45,000 Speaker 4: is to get you to give them their money, invest 615 00:33:45,080 --> 00:33:47,760 Speaker 4: with them, to invest with them, because they know you 616 00:33:47,840 --> 00:33:50,800 Speaker 4: can't afford it. They know you ain't got the knowledge. 617 00:33:51,320 --> 00:33:55,480 Speaker 4: So wake up, people, stop letting these people trick you 618 00:33:55,560 --> 00:33:59,520 Speaker 4: out of your God given right to buy real estate. Look, 619 00:33:59,560 --> 00:34:03,280 Speaker 4: we have people that died before us, literally died before 620 00:34:03,360 --> 00:34:07,040 Speaker 4: us to give us the right to buy homes. Like 621 00:34:07,160 --> 00:34:09,479 Speaker 4: lookal the Fair House and Act was passed a week 622 00:34:09,560 --> 00:34:12,920 Speaker 4: after doctor King was assassinated. They fought for us to 623 00:34:12,920 --> 00:34:14,440 Speaker 4: have this right, and some of y'all just sitting on 624 00:34:14,480 --> 00:34:17,880 Speaker 4: the sidelines. Listen to the folks telling you don't go 625 00:34:17,920 --> 00:34:20,960 Speaker 4: buy a house, go buy an investment. Probably go buy 626 00:34:20,960 --> 00:34:24,200 Speaker 4: a ten year the house. When all of them have homes. 627 00:34:24,800 --> 00:34:27,239 Speaker 1: They all have homes. 628 00:34:27,280 --> 00:34:29,960 Speaker 4: The person that says that, but. 629 00:34:32,480 --> 00:34:36,960 Speaker 3: From a mathematical standpoint, if you invest your money into 630 00:34:37,000 --> 00:34:39,880 Speaker 3: the stock market, over the course of time, you will 631 00:34:39,920 --> 00:34:42,000 Speaker 3: make more money in stocks than in real estate. 632 00:34:42,440 --> 00:34:44,400 Speaker 1: Fuck that. You can't live in that stock. 633 00:34:57,360 --> 00:35:00,799 Speaker 4: That No Black people listen to me, it's not or 634 00:35:01,160 --> 00:35:05,880 Speaker 4: it's both both with you both, I've always said that, it's. 635 00:35:05,760 --> 00:35:08,920 Speaker 2: Not wards you talked about people not having it. 636 00:35:08,920 --> 00:35:11,120 Speaker 1: I'm with you, right because it is. It is. 637 00:35:11,560 --> 00:35:14,239 Speaker 2: It's tough times, right, And we talked about faha, we 638 00:35:14,280 --> 00:35:16,759 Speaker 2: talked about all those things I wanted in twenty twenty six. 639 00:35:16,840 --> 00:35:17,759 Speaker 1: Are their programs? 640 00:35:17,800 --> 00:35:21,279 Speaker 2: Are their initiatives for first time buyers that they may 641 00:35:21,320 --> 00:35:22,200 Speaker 2: not be aware of? 642 00:35:22,440 --> 00:35:22,600 Speaker 1: Right? 643 00:35:22,680 --> 00:35:24,480 Speaker 2: Like, are there programs that they can say, like, Yo, 644 00:35:24,520 --> 00:35:28,439 Speaker 2: this download down payment assistance program? Like are there things 645 00:35:28,440 --> 00:35:30,920 Speaker 2: that they should be made aware of that they probably 646 00:35:30,920 --> 00:35:33,040 Speaker 2: didn't know this in twenty twenty six. 647 00:35:33,800 --> 00:35:37,840 Speaker 4: Yeah, I mean there's hundreds, literally hundreds of down payment 648 00:35:37,840 --> 00:35:40,600 Speaker 4: assistant programs that's available. All you guys got to do 649 00:35:40,760 --> 00:35:43,799 Speaker 4: is just Google down payment assistance in my area. You 650 00:35:43,800 --> 00:35:46,680 Speaker 4: can go to hud dot gov and hud dot gov 651 00:35:46,760 --> 00:35:48,799 Speaker 4: has a list of if you type in your state 652 00:35:48,840 --> 00:35:51,759 Speaker 4: and your city, it has a list in your state 653 00:35:51,800 --> 00:35:55,480 Speaker 4: of city of all the down payment assistant programs that's available. Right, 654 00:35:55,520 --> 00:35:58,399 Speaker 4: you got chat, GBT, this AI out here. You could 655 00:35:58,440 --> 00:36:00,080 Speaker 4: just put it in there and they'll give you all 656 00:36:00,239 --> 00:36:03,920 Speaker 4: information with all the websites. Like twenty twenty six, this 657 00:36:04,040 --> 00:36:06,480 Speaker 4: is the easiest time in the world to become a millionaire, 658 00:36:07,040 --> 00:36:10,080 Speaker 4: no matter if it stocks, whether it's real estate. You 659 00:36:10,120 --> 00:36:11,920 Speaker 4: don't even have to pick your poison. You can do 660 00:36:12,000 --> 00:36:13,759 Speaker 4: both if you do it the right way and if 661 00:36:13,800 --> 00:36:16,719 Speaker 4: you use the technology that's in front of us to 662 00:36:16,840 --> 00:36:20,640 Speaker 4: go ahead and do it. So the the people that 663 00:36:20,760 --> 00:36:22,680 Speaker 4: sit in the back say I don't have the information 664 00:36:22,840 --> 00:36:23,520 Speaker 4: or I didn't know. 665 00:36:23,640 --> 00:36:25,239 Speaker 1: Shame on you, like you. 666 00:36:25,320 --> 00:36:28,480 Speaker 4: In the back of the class, not paying attention, like 667 00:36:28,560 --> 00:36:31,040 Speaker 4: you gotta you gotta get in the game. So, yes, Troy, 668 00:36:31,080 --> 00:36:33,880 Speaker 4: there's tons of down payment assistance. You still have programs 669 00:36:34,239 --> 00:36:36,759 Speaker 4: like Knaka that's out there that offer you one hundred 670 00:36:36,800 --> 00:36:37,719 Speaker 4: percent financing. 671 00:36:38,080 --> 00:36:40,560 Speaker 1: Right if you episode about you have an episode on 672 00:36:40,760 --> 00:36:41,680 Speaker 1: Knaka with Dre. 673 00:36:41,760 --> 00:36:44,560 Speaker 4: Yeah, shout out to Dre right like and if you 674 00:36:44,600 --> 00:36:47,040 Speaker 4: look at even like Dre Right, shout out to Dre 675 00:36:47,120 --> 00:36:51,320 Speaker 4: from Chicago, like he went from Naka and house hacking 676 00:36:51,400 --> 00:36:53,880 Speaker 4: knacker to now he's doing development. 677 00:36:54,360 --> 00:36:56,120 Speaker 1: All within ten years. 678 00:36:56,719 --> 00:36:59,640 Speaker 4: Ye, right, So you gotta look at the stepping stones 679 00:36:59,680 --> 00:37:03,360 Speaker 4: of this that we live in such a microwavable society 680 00:37:03,440 --> 00:37:05,839 Speaker 4: right now where people just want to put get rich 681 00:37:06,120 --> 00:37:10,440 Speaker 4: quick in sixty seconds, Like, no, you gotta take time. 682 00:37:10,840 --> 00:37:13,680 Speaker 4: I tell people all the time, my overnight success to 683 00:37:13,840 --> 00:37:17,040 Speaker 4: me twenty three years. Like a lot of y'all trying 684 00:37:17,080 --> 00:37:19,640 Speaker 4: to get it in twenty three seconds. You got to 685 00:37:19,719 --> 00:37:24,400 Speaker 4: calm down, follow follow the blueprint, and trust the process. 686 00:37:24,560 --> 00:37:28,480 Speaker 4: And then my Troy voice, stay low, keep firing. 687 00:37:29,200 --> 00:37:33,520 Speaker 5: Yeah, what's my biggest what's the biggest mistake you see 688 00:37:33,960 --> 00:37:37,120 Speaker 5: hot income earners making when they apply for a mortgage? 689 00:37:38,280 --> 00:37:42,399 Speaker 4: The biggest mistake I see hot income earners make. Oh man, 690 00:37:42,400 --> 00:37:46,200 Speaker 4: there's tons of mistakes they make. Most hot earners think, 691 00:37:46,320 --> 00:37:50,440 Speaker 4: especially if they're self employed, they think whatever they're grosses, 692 00:37:50,560 --> 00:37:54,800 Speaker 4: that's their net right, And that's not the case. 693 00:37:55,200 --> 00:37:55,640 Speaker 1: You know, I have. 694 00:37:56,560 --> 00:37:58,680 Speaker 4: Business owners all the time. Income to me, like, yo, 695 00:37:58,719 --> 00:38:01,360 Speaker 4: I made two million dollars a year. We see your taxes, 696 00:38:01,440 --> 00:38:04,560 Speaker 4: you make twenty five thousand according to what you told 697 00:38:04,600 --> 00:38:08,799 Speaker 4: the IRS, which you're taking full advantage of the tax code, right, 698 00:38:08,840 --> 00:38:10,839 Speaker 4: which is a beautiful thing. But now I can't go 699 00:38:11,000 --> 00:38:14,640 Speaker 4: traditional full documentation convencial loans. But thank god, we have 700 00:38:14,840 --> 00:38:18,280 Speaker 4: programs out there like P and L loans, bank statement 701 00:38:18,440 --> 00:38:21,319 Speaker 4: loans and things like that out there where we don't 702 00:38:21,320 --> 00:38:24,800 Speaker 4: need tax returns, where we can use your monthly deposits 703 00:38:24,800 --> 00:38:27,120 Speaker 4: and your business and we can use that as your income. 704 00:38:27,560 --> 00:38:29,560 Speaker 4: So I think one of the biggest mistakes that I 705 00:38:29,640 --> 00:38:33,320 Speaker 4: see not only hot income earners make in but everybody 706 00:38:33,320 --> 00:38:36,480 Speaker 4: who's looking for a mortgage, they don't do a mortgage plan, right. 707 00:38:36,760 --> 00:38:39,520 Speaker 4: You always hear people say you should do financial planning 708 00:38:39,600 --> 00:38:42,240 Speaker 4: and stuff like that, But where does the mortgage planing 709 00:38:42,320 --> 00:38:44,560 Speaker 4: come into that? If you know you're looking to buy 710 00:38:45,320 --> 00:38:48,120 Speaker 4: not just one house, even just one house, right, you 711 00:38:48,200 --> 00:38:51,640 Speaker 4: should be sitting down with someone like myself and have 712 00:38:51,960 --> 00:38:56,480 Speaker 4: put your team together, your CPA, your realtor, your loan officer, 713 00:38:56,560 --> 00:38:59,000 Speaker 4: and make sure everybody's on the same page so that 714 00:38:59,040 --> 00:39:01,680 Speaker 4: way you understand it exactly what your buying power is, 715 00:39:01,680 --> 00:39:04,200 Speaker 4: what the tax benefits behind it, and how do you 716 00:39:04,280 --> 00:39:06,640 Speaker 4: really scale that network to the highest levels? 717 00:39:06,719 --> 00:39:06,919 Speaker 1: Right? 718 00:39:07,000 --> 00:39:08,880 Speaker 4: You have to do a mortgage plan every year, and 719 00:39:08,920 --> 00:39:13,480 Speaker 4: if you're someone who's looking to scale and grow a portfolio, 720 00:39:13,560 --> 00:39:15,600 Speaker 4: you definitely should be doing the mortgage plan with your 721 00:39:15,719 --> 00:39:18,840 Speaker 4: with your team of professionals every single year to go 722 00:39:18,880 --> 00:39:22,279 Speaker 4: over where you stand and what is my goals and 723 00:39:22,360 --> 00:39:25,720 Speaker 4: how do we as a team get to that next level. 724 00:39:25,760 --> 00:39:28,160 Speaker 4: But have to remember that you are the CEO of 725 00:39:28,200 --> 00:39:31,120 Speaker 4: this real estate business, right and you have to lead 726 00:39:31,160 --> 00:39:34,239 Speaker 4: the professionals like myself in the right way so that 727 00:39:34,280 --> 00:39:36,440 Speaker 4: way we can help you achieve your goal to the 728 00:39:36,520 --> 00:39:38,440 Speaker 4: highest levels possible. 729 00:39:40,440 --> 00:39:43,200 Speaker 1: There you have it, ladies and gentlemen, Camics m JIZZL. 730 00:39:44,440 --> 00:39:46,640 Speaker 2: This episode is brought to you by P and C Bank. 731 00:39:47,040 --> 00:39:49,800 Speaker 2: A lot of people think podcasts about work are boring, 732 00:39:50,040 --> 00:39:53,880 Speaker 2: and sure, they definitely can be, but understanding a professionals 733 00:39:53,960 --> 00:39:57,200 Speaker 2: routine shows us how they achieve their success little by little, 734 00:39:57,600 --> 00:40:01,239 Speaker 2: day after day. It's like banking with P and C Bank. 735 00:40:01,719 --> 00:40:04,520 Speaker 2: It might seem boring the safe plan and make calculated 736 00:40:04,520 --> 00:40:07,640 Speaker 2: decisions with your bank, but keeping your money boring is 737 00:40:07,680 --> 00:40:10,560 Speaker 2: what helps you live or more happily fulfilled life. 738 00:40:10,880 --> 00:40:14,680 Speaker 1: P and C Bank Brilliantly Boring since eighteen sixty five. 739 00:40:15,440 --> 00:40:18,520 Speaker 2: Brilliantly Boring since eighteen sixty five is a service mark 740 00:40:18,560 --> 00:40:21,480 Speaker 2: of the PNC Financial Service Group, Inc. P and C 741 00:40:21,640 --> 00:40:24,560 Speaker 2: Bank National Association Member FDIC