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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.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

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Speaker 1: aliens have been arrested. If you are here illegally, your

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Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,

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Speaker 1: and deported.

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Speaker 2: You will never return.

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Speaker 1: But if you register using our CBP home app and

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

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Speaker 2: Do what's right. Leave now.

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Speaker 1: Under President Trump, America's laws, border and families will.

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Speaker 3: Be protected sponsored by the United States Department of Homeland Security.

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Speaker 4: So how are you moving into different markets? Like what

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Speaker 4: are some challenges with that? You started where you're from,

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Speaker 4: but now you're going to Texas and you're going to

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Speaker 4: you say they moved to Atlanta and different things like

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Speaker 4: and then you're doing different different product types as well. Yeah,

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Speaker 4: we talk about navigating that.

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Speaker 5: So relationships, man, it's everything. I think when I was

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Speaker 5: coming up in Milwaukee, one of the things that I

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Speaker 5: did was just build those relationships off network, and I

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Speaker 5: was at every event. You couldn't miss me. I was

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Speaker 5: literally you could not miss me. I was everywhere. So

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Speaker 5: I took that same model. But now I'm doing it

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Speaker 5: on the national scale. Everything in DC real estate based events,

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Speaker 5: I'm there. I'm not there as much now because i've

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Speaker 5: been you know, headed down, but I'm in those Atlanta

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Speaker 5: based events, I'm in that, Houston based events, I'm in

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Speaker 5: those you know, Birmingham based events, I'm in that. So

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Speaker 5: I look for the macro economic trends that I liked

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Speaker 5: population growth.

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Speaker 6: I really like red states and blue cities because it.

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Speaker 5: Allows for or flexibility and getting out tennis that may

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Speaker 5: not pay right. I'm not saying you're vig folks, That's

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Speaker 5: not what I'm here for. But at the same time,

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Speaker 5: places like Atlanta. Atlanta is in as bad Atlanta's d C.

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Speaker 5: Let's use DC for example. You said red state and

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Speaker 5: blue city. Yes, those are places like Atlanta. I like Houston,

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Speaker 5: Georgia's Birmingham all blue states, red city.

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Speaker 4: I mean, I mean traditionally george is not a blue state.

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Speaker 5: No, no, no, I mean blue Citi's Red states. I may

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Speaker 5: have said it the wrong way. Birmingham would be yeah,

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Speaker 5: yeah for sure, New Orleans.

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Speaker 6: Yes, stuff like that. Yeah. I really like blue states,

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Speaker 6: red cities.

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Speaker 5: Sorry, blue cities, red states because the higher level laws allow.

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Speaker 6: For more flexibility.

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Speaker 5: Like a place like DC, for example, there were people

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Speaker 5: that literally d C prior to the pandemic. You can

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Speaker 5: go rent an apartment, never pay your rent, and you

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Speaker 5: don't have have to get out for at least seven

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Speaker 5: months because.

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Speaker 6: That's all in the process takes.

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Speaker 5: Like I know people that lived in the building that

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Speaker 5: I lived in that literally leased it and didn't pay rent.

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Speaker 5: They just leased it out every summer so they can

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Speaker 5: enjoy the rooftop, and they just burn up different people's things,

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Speaker 5: like okay, your name this year, were all gonna live there.

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Speaker 5: Your name this year, We're all gonna live there.

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Speaker 4: Are there any Are there any major cities that are

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Speaker 4: run by Republicans? I don't think so. Right most every

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Speaker 4: major city is run by Democrats. Think about it.

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Speaker 6: That's a good Chicago, LA.

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Speaker 4: Miami's a Democrat, the mayor's a Democrat. I don't think

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Speaker 4: there's any major city that that's interesting. I just thought

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Speaker 4: about that. No, no major city has demo, has a

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Speaker 4: Republican control, even even if it's in the Republican l

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Speaker 4: A yeah, San Francisco, San Francisco saying yeah, Philly yeah,

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Speaker 4: and you know Pennsylvanica's back and forth.

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Speaker 6: But those those cities, those states.

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Speaker 5: That have those very like strings and laws, like a

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Speaker 5: DC for example, I'm not the most fond of right

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Speaker 5: Like during the pandemic, there are people that literally lived

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Speaker 5: for over a year just because of the system.

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Speaker 6: And it's like you're not paying any rent.

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Speaker 5: As a landowner that has thousands of units, I don't

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Speaker 5: want thousands of units in the place that I can't

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Speaker 5: get people exploiting this system. Out in Wisconsin, you get

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Speaker 5: somebody thirty days, all right, boom, you go through the process.

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Speaker 6: Atlanta even quicker than that.

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Speaker 5: And I'm not saying we should exploit it either, but

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Speaker 5: from a business perspective, it doesn't make sense for me

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Speaker 5: to be in a place where X amount of people

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Speaker 5: that'll pay rent, especially as I'm rising like when I

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Speaker 5: get bigger, of course, maybe I could deal with some

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Speaker 5: of that drop, but right now, nah, I'm focused on

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Speaker 5: cities where it makes sense financially.

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Speaker 7: So you moved throughout the cities. I know the HUT

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Speaker 7: is involved in the Birmingham situation. There was three hundred

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Speaker 7: and seventy million allocated for the developments. Is it a

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Speaker 7: situation where you can now again go back to hood

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Speaker 7: and do the same type of opposing a different city.

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Speaker 5: Absolutely so, I have I'm a finalist for three cities

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Speaker 5: right now.

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Speaker 6: I knew it, man, I knew.

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Speaker 5: I'm a finalist for three cities right now. I got

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Speaker 5: a call yesterday about one. We'll talk about the cities offline.

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Speaker 6: Yeah.

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Speaker 5: So the strategy in the game plan there is if

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Speaker 5: let's say once a year, once every other year, I

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Speaker 5: can pick up one of these. Birmingham will be further

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Speaker 5: along now I'm starting to that, and if each one

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Speaker 5: is kicking out a thousand plus units, you get three

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Speaker 5: four cities. I mean by the time I'm thirty four, now,

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Speaker 5: by the time I'm forty two forty three, I have

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Speaker 5: thousands of units under my belt that I've developed and

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Speaker 5: really just starting to enter my prime.

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Speaker 7: On your financial map. Does the percentage change with the

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Speaker 7: amount of units? Right when you started at the one forty,

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Speaker 7: you had your percentage that was put in. Now you're

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Speaker 7: doing eleven hundred, but you have partners.

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Speaker 5: Yes, great question, Yes it did change. So each city

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Speaker 5: that you go into there how you So all of

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Speaker 5: these are public housing redevelopment, So think of Brittany Greens,

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Speaker 5: think Marcie projects, et cetera.

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Speaker 6: We're taking the projects.

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Speaker 5: And creating mixed income communities because if you think about

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Speaker 5: the projects that were low density, so it's thirty acres

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Speaker 5: of land.

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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.

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Speaker 2: Trump's leadership. I'm Christy Noman, the.

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Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted

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Speaker 1: illegal border crossings are at the lowest levels ever recorded,

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Speaker 1: and over one hundred thousand illegal aliens have been arrested.

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

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Speaker 1: fined nearly one thousand dollars.

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Speaker 2: A day, imprisoned, and deported. You will never return.

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Speaker 1: But if you register using our CBP home app and

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

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Speaker 2: Do what's right to leave now.

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Speaker 1: Under President Trump America's laws, border and families will.

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Speaker 3: Be protected sponsored by the United States Department of Homeland

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Speaker 3: Security with three hundred units on it.

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Speaker 5: That's saying thirty acres could do three thousand if you

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Speaker 5: really wanted to, right, but you don't want to, you

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Speaker 5: don't want to go that dence, but that's just an

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Speaker 5: example of.

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Speaker 6: What you are going after.

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Speaker 5: So because the housing authorities typically own those lands, whoever

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Speaker 5: is at the housing authority, they kind of dictate the

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Speaker 5: negotiation of like the housing authority and developer. In those terms,

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Speaker 5: the housing authority gets X percentage and then the developers

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Speaker 5: gets why percentage and right now integrew and I are

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Speaker 5: splitting that percentage, but it's very favorable, like it's pretty

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Speaker 5: close to where.

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Speaker 6: It should be.

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Speaker 5: And the way we work they come. I'm driving, but

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Speaker 5: they're they're every step of the way in the passenger seat,

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Speaker 5: so I'm able to learn from it in their experience.

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Speaker 5: They've developed, built and manage over ten thousand plus units.

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Speaker 5: They've been doing this, they created the model. I'm learning

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Speaker 5: from them, but I'm driving the ship at the same time.

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Speaker 5: So yes, I have to share in the economics, but

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Speaker 5: you know, three four hundred million dollar deals a pop,

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Speaker 5: I don't mind sharing.

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Speaker 6: We can figure it out.

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Speaker 4: So talk about access to capital, that's something that you

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Speaker 4: know down people. A lot of people haven't talked about.

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Speaker 4: What is your thoughts on access to capital as far

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Speaker 4: as doing the real estate development side and what's your

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Speaker 4: personal experience is trying to get access to capital.

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Speaker 5: The money on this commercial real estate side. Like I said,

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Speaker 5: the money is gonna be there. If you got to

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Speaker 5: deal to work, the money's gonna flow at the end

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Speaker 5: of the day. Now the terms for the money talked

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Speaker 5: about before, that's where it gets a little tricky. I'll

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Speaker 5: say in a way of George Floyd, there was an

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Speaker 5: eighteen month period maybe even a little. I mean, it's

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Speaker 5: still kind of there, but it's scaling back where they

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Speaker 5: were throwing money at black developers.

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Speaker 4: Move stolen money like Black Rock.

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Speaker 6: Uh No, that's a great question. So like the Paypals

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Speaker 6: of the world.

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Speaker 5: When they was giving out all of the like oh

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Speaker 5: I want to invest in black communities, primarily went to

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Speaker 5: cdffi's Community Development Financial Institution that we talked about last time.

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Speaker 5: There's some national cdf fis that governed some of those

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Speaker 5: funds and they've been able to kind of distill those

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Speaker 5: funds to us. So like Enterprise Community Partners that my

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Speaker 5: equity investors on the Madison deal, they have a program

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Speaker 5: called Equitable Path Forward.

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Speaker 6: Their CEO just took over Fanny May.

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Speaker 5: So that's the scale of how big these CDFIs are now.

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Speaker 6: They're one of their presidents, Lori Chapman.

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Speaker 5: She created this program based upon all of that money

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Speaker 5: that was coming in from the corporations that we're trying

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Speaker 5: to give to black dollars, and this program.

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Speaker 6: Is specifically created to be able to.

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Speaker 5: They have lines of credit for us from an operational

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Speaker 5: business perspective. They have pre development loans so you can

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Speaker 5: go out each one of these deals, you need at

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Speaker 5: least a half a million, anywhere from a half a

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Speaker 5: million to a million before you close. You get it

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Speaker 5: all back when you finish, but you need that before

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Speaker 5: you close. And when you talk about like capacity, that's

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Speaker 5: one of the things too. If you have five of

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Speaker 5: these deals going on at one time, you're gonna need

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Speaker 5: two and a half to five million dollars worth of

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Speaker 5: capital just to deploy to that, not even talking about

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Speaker 5: your operations and nothing like that. So they have programs

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Speaker 5: that are allowing for developers to be able to tap

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Speaker 5: into those type of money that helps us grow in scale.

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Speaker 5: But the flip side of it is that's all the

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Speaker 5: you know, kind of feel good money that's gonna flip.

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Speaker 5: But to don people's point, black people don't manage big

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Speaker 5: pension funds at all. Right, I've heard him talk about

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Speaker 5: it on y'all's platform. At the end of the day,

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Speaker 5: we're less than one percent of all of the management,

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Speaker 5: Black brown women less than one percent of all assets managed.

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Speaker 5: But if in New York, for example, with black, brown

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Speaker 5: and women, it's over fifty percent of what's going into

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Speaker 5: that pension fund, why is it less than one percent

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Speaker 5: of us managing or having access to manage those funds?

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Speaker 5: What is the governance around that to say, oh, you

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Speaker 5: are not capable enough to do that.

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Speaker 6: That's still a.

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Speaker 5: Really big challenge to be able to even go from

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Speaker 5: someone like myself that's a developer that's established, to get

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Speaker 5: into fund management and be able to allocate to either

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Speaker 5: my developments or other developers in the same way as

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Speaker 5: some of these traditional majority firms are doing with no problem.

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Speaker 5: So that's really a challenge that I think needs to

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Speaker 5: be addressed, and I'm doing my job to do it.

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Speaker 5: So Reinvestor is a platform and I'm creating now. It's

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Speaker 5: a crowdfunding platform that democratizes commercial real esset investment. My

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Speaker 5: mother can invest, your parents can invest unless they are accredited.

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Speaker 6: Historically, but you've seen.

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Speaker 5: Crowdfundings start to grow in the real estate space a

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Speaker 5: little bit. So I'm doing a regulation a plus. We

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Speaker 5: can raise up to seventy five million. I'm gonna put

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Speaker 5: a portfolio of deals together and have people invest in

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Speaker 5: that and back by the best of the best in

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Speaker 5: the country that are doing it, so it's secure by

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Speaker 5: those funds, I mean buy those firms, and we underwrite deals.

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Speaker 5: We co invest in the deals. It's not like investing

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Speaker 5: in a company. It's not like investing in a onesie deal.

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Speaker 3: Like.

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Speaker 5: We are putting together sophistication in a way that the

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Speaker 5: marketplace has not seen. So that's one of the ways

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Speaker 5: that I'm addressing the access to capital challenge for emerging

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Speaker 5: developers that are like me and coming up behind me too.

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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.

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Speaker 2: Trump's leadership.

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Speaker 1: I'm Christy Noman, the United States Secretary of Homeland Security.

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Speaker 1: Under President Trump, attempted illegal border crossings are at the

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Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal

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Speaker 1: aliens have been arrested. If you are here illegally, your

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Speaker 1: next you will be fine nearly one thousand dollars.

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Speaker 2: A day, imprisoned, and deported. You will never return.

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Speaker 1: But if you register using our CBP home app and

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

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Speaker 2: Do what's right, leave now.

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Speaker 1: Under President Trump, America's laws, border and families will be protected.

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Speaker 3: Sponsored by the United States Department of Homeland Security,