WEBVTT - Study Hall: Accessing Capital for Real Estate Development

0:00:00.040 --> 0:00:03.600
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:00:03.680 --> 0:00:07.480
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:00:07.720 --> 0:00:11.840
<v Speaker 1>accused of murdering a Texas. Man of Venezuelan charged with

0:00:11.920 --> 0:00:15.840
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:00:15.920 --> 0:00:19.680
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:00:19.720 --> 0:00:20.159
<v Speaker 1>Donald J.

0:00:20.239 --> 0:00:21.200
<v Speaker 2>Trump's leadership.

0:00:21.480 --> 0:00:25.079
<v Speaker 1>I'm Christy nom the United States Secretary of Homeland Security.

0:00:25.440 --> 0:00:29.200
<v Speaker 1>Under President Trump, attempted illegal border crossings are at the

0:00:29.240 --> 0:00:33.080
<v Speaker 1>lowest levels ever recorded, and over one hundred thousand illegal

0:00:33.120 --> 0:00:36.920
<v Speaker 1>aliens have been arrested. If you are here illegally, your

0:00:37.040 --> 0:00:41.160
<v Speaker 1>next you will be fined nearly one thousand dollars a day, imprisoned,

0:00:41.479 --> 0:00:42.160
<v Speaker 1>and deported.

0:00:42.600 --> 0:00:43.800
<v Speaker 2>You will never return.

0:00:44.120 --> 0:00:47.120
<v Speaker 1>But if you register using our CBP home app and

0:00:47.240 --> 0:00:50.120
<v Speaker 1>leave now, you could be allowed to return legally.

0:00:50.479 --> 0:00:52.720
<v Speaker 2>Do what's right. Leave now.

0:00:53.040 --> 0:00:57.400
<v Speaker 1>Under President Trump, America's laws, border and families will.

0:00:57.200 --> 0:01:00.000
<v Speaker 3>Be protected sponsored by the United States Department of Homeland Security.

0:01:00.240 --> 0:01:02.760
<v Speaker 4>So how are you moving into different markets? Like what

0:01:02.800 --> 0:01:05.240
<v Speaker 4>are some challenges with that? You started where you're from,

0:01:05.640 --> 0:01:07.520
<v Speaker 4>but now you're going to Texas and you're going to

0:01:07.600 --> 0:01:09.680
<v Speaker 4>you say they moved to Atlanta and different things like

0:01:10.000 --> 0:01:13.199
<v Speaker 4>and then you're doing different different product types as well. Yeah,

0:01:13.240 --> 0:01:14.560
<v Speaker 4>we talk about navigating that.

0:01:15.440 --> 0:01:19.600
<v Speaker 5>So relationships, man, it's everything. I think when I was

0:01:20.040 --> 0:01:23.160
<v Speaker 5>coming up in Milwaukee, one of the things that I

0:01:23.200 --> 0:01:26.399
<v Speaker 5>did was just build those relationships off network, and I

0:01:26.440 --> 0:01:28.360
<v Speaker 5>was at every event. You couldn't miss me. I was

0:01:28.560 --> 0:01:31.800
<v Speaker 5>literally you could not miss me. I was everywhere. So

0:01:31.840 --> 0:01:33.560
<v Speaker 5>I took that same model. But now I'm doing it

0:01:33.600 --> 0:01:37.080
<v Speaker 5>on the national scale. Everything in DC real estate based events,

0:01:37.080 --> 0:01:39.959
<v Speaker 5>I'm there. I'm not there as much now because i've

0:01:39.959 --> 0:01:43.040
<v Speaker 5>been you know, headed down, but I'm in those Atlanta

0:01:43.120 --> 0:01:45.520
<v Speaker 5>based events, I'm in that, Houston based events, I'm in

0:01:45.560 --> 0:01:48.600
<v Speaker 5>those you know, Birmingham based events, I'm in that. So

0:01:49.080 --> 0:01:52.640
<v Speaker 5>I look for the macro economic trends that I liked

0:01:53.240 --> 0:01:54.280
<v Speaker 5>population growth.

0:01:56.600 --> 0:01:59.360
<v Speaker 6>I really like red states and blue cities because it.

0:01:59.400 --> 0:02:06.080
<v Speaker 5>Allows for or flexibility and getting out tennis that may

0:02:06.120 --> 0:02:09.240
<v Speaker 5>not pay right. I'm not saying you're vig folks, That's

0:02:09.280 --> 0:02:11.080
<v Speaker 5>not what I'm here for. But at the same time,

0:02:11.639 --> 0:02:16.679
<v Speaker 5>places like Atlanta. Atlanta is in as bad Atlanta's d C.

0:02:16.960 --> 0:02:19.240
<v Speaker 5>Let's use DC for example. You said red state and

0:02:19.280 --> 0:02:23.239
<v Speaker 5>blue city. Yes, those are places like Atlanta. I like Houston,

0:02:23.560 --> 0:02:27.800
<v Speaker 5>Georgia's Birmingham all blue states, red city.

0:02:28.000 --> 0:02:30.359
<v Speaker 4>I mean, I mean traditionally george is not a blue state.

0:02:30.720 --> 0:02:32.919
<v Speaker 5>No, no, no, I mean blue Citi's Red states. I may

0:02:32.919 --> 0:02:34.880
<v Speaker 5>have said it the wrong way. Birmingham would be yeah,

0:02:37.960 --> 0:02:39.840
<v Speaker 5>yeah for sure, New Orleans.

0:02:39.520 --> 0:02:42.400
<v Speaker 6>Yes, stuff like that. Yeah. I really like blue states,

0:02:42.440 --> 0:02:43.000
<v Speaker 6>red cities.

0:02:43.200 --> 0:02:48.880
<v Speaker 5>Sorry, blue cities, red states because the higher level laws allow.

0:02:48.680 --> 0:02:49.560
<v Speaker 6>For more flexibility.

0:02:49.639 --> 0:02:51.919
<v Speaker 5>Like a place like DC, for example, there were people

0:02:51.960 --> 0:02:56.079
<v Speaker 5>that literally d C prior to the pandemic. You can

0:02:56.120 --> 0:02:59.520
<v Speaker 5>go rent an apartment, never pay your rent, and you

0:02:59.639 --> 0:03:01.240
<v Speaker 5>don't have have to get out for at least seven

0:03:01.240 --> 0:03:01.880
<v Speaker 5>months because.

0:03:01.680 --> 0:03:03.040
<v Speaker 6>That's all in the process takes.

0:03:03.280 --> 0:03:04.720
<v Speaker 5>Like I know people that lived in the building that

0:03:04.760 --> 0:03:08.280
<v Speaker 5>I lived in that literally leased it and didn't pay rent.

0:03:08.320 --> 0:03:10.000
<v Speaker 5>They just leased it out every summer so they can

0:03:10.080 --> 0:03:13.760
<v Speaker 5>enjoy the rooftop, and they just burn up different people's things,

0:03:13.800 --> 0:03:15.720
<v Speaker 5>like okay, your name this year, were all gonna live there.

0:03:15.760 --> 0:03:17.320
<v Speaker 5>Your name this year, We're all gonna live there.

0:03:17.400 --> 0:03:20.320
<v Speaker 4>Are there any Are there any major cities that are

0:03:20.360 --> 0:03:22.960
<v Speaker 4>run by Republicans? I don't think so. Right most every

0:03:22.960 --> 0:03:25.280
<v Speaker 4>major city is run by Democrats. Think about it.

0:03:25.600 --> 0:03:26.960
<v Speaker 6>That's a good Chicago, LA.

0:03:29.440 --> 0:03:32.240
<v Speaker 4>Miami's a Democrat, the mayor's a Democrat. I don't think

0:03:32.240 --> 0:03:35.560
<v Speaker 4>there's any major city that that's interesting. I just thought

0:03:35.560 --> 0:03:39.320
<v Speaker 4>about that. No, no major city has demo, has a

0:03:39.360 --> 0:03:43.200
<v Speaker 4>Republican control, even even if it's in the Republican l

0:03:43.240 --> 0:03:49.800
<v Speaker 4>A yeah, San Francisco, San Francisco saying yeah, Philly yeah,

0:03:50.720 --> 0:03:52.640
<v Speaker 4>and you know Pennsylvanica's back and forth.

0:03:52.680 --> 0:03:55.600
<v Speaker 6>But those those cities, those states.

0:03:55.240 --> 0:03:57.440
<v Speaker 5>That have those very like strings and laws, like a

0:03:57.520 --> 0:04:02.960
<v Speaker 5>DC for example, I'm not the most fond of right

0:04:03.000 --> 0:04:05.560
<v Speaker 5>Like during the pandemic, there are people that literally lived

0:04:05.920 --> 0:04:08.320
<v Speaker 5>for over a year just because of the system.

0:04:08.720 --> 0:04:10.680
<v Speaker 6>And it's like you're not paying any rent.

0:04:11.160 --> 0:04:15.560
<v Speaker 5>As a landowner that has thousands of units, I don't

0:04:15.600 --> 0:04:18.200
<v Speaker 5>want thousands of units in the place that I can't

0:04:18.520 --> 0:04:22.280
<v Speaker 5>get people exploiting this system. Out in Wisconsin, you get

0:04:22.279 --> 0:04:25.000
<v Speaker 5>somebody thirty days, all right, boom, you go through the process.

0:04:25.000 --> 0:04:26.200
<v Speaker 6>Atlanta even quicker than that.

0:04:26.760 --> 0:04:29.560
<v Speaker 5>And I'm not saying we should exploit it either, but

0:04:29.640 --> 0:04:32.320
<v Speaker 5>from a business perspective, it doesn't make sense for me

0:04:32.360 --> 0:04:34.480
<v Speaker 5>to be in a place where X amount of people

0:04:34.480 --> 0:04:36.600
<v Speaker 5>that'll pay rent, especially as I'm rising like when I

0:04:36.640 --> 0:04:39.560
<v Speaker 5>get bigger, of course, maybe I could deal with some

0:04:39.760 --> 0:04:41.760
<v Speaker 5>of that drop, but right now, nah, I'm focused on

0:04:41.839 --> 0:04:43.640
<v Speaker 5>cities where it makes sense financially.

0:04:44.640 --> 0:04:46.640
<v Speaker 7>So you moved throughout the cities. I know the HUT

0:04:46.680 --> 0:04:49.000
<v Speaker 7>is involved in the Birmingham situation. There was three hundred

0:04:49.040 --> 0:04:54.159
<v Speaker 7>and seventy million allocated for the developments. Is it a

0:04:54.200 --> 0:04:56.719
<v Speaker 7>situation where you can now again go back to hood

0:04:56.760 --> 0:04:59.280
<v Speaker 7>and do the same type of opposing a different city.

0:04:59.400 --> 0:05:02.039
<v Speaker 5>Absolutely so, I have I'm a finalist for three cities

0:05:02.120 --> 0:05:03.039
<v Speaker 5>right now.

0:05:04.040 --> 0:05:05.440
<v Speaker 6>I knew it, man, I knew.

0:05:05.640 --> 0:05:07.320
<v Speaker 5>I'm a finalist for three cities right now. I got

0:05:07.360 --> 0:05:11.159
<v Speaker 5>a call yesterday about one. We'll talk about the cities offline.

0:05:11.680 --> 0:05:12.160
<v Speaker 6>Yeah.

0:05:12.680 --> 0:05:16.440
<v Speaker 5>So the strategy in the game plan there is if

0:05:17.320 --> 0:05:19.760
<v Speaker 5>let's say once a year, once every other year, I

0:05:19.800 --> 0:05:22.880
<v Speaker 5>can pick up one of these. Birmingham will be further

0:05:22.920 --> 0:05:25.320
<v Speaker 5>along now I'm starting to that, and if each one

0:05:25.440 --> 0:05:28.039
<v Speaker 5>is kicking out a thousand plus units, you get three

0:05:28.080 --> 0:05:31.360
<v Speaker 5>four cities. I mean by the time I'm thirty four, now,

0:05:31.400 --> 0:05:34.920
<v Speaker 5>by the time I'm forty two forty three, I have

0:05:35.400 --> 0:05:38.159
<v Speaker 5>thousands of units under my belt that I've developed and

0:05:38.600 --> 0:05:41.040
<v Speaker 5>really just starting to enter my prime.

0:05:42.080 --> 0:05:44.840
<v Speaker 7>On your financial map. Does the percentage change with the

0:05:44.880 --> 0:05:47.239
<v Speaker 7>amount of units? Right when you started at the one forty,

0:05:47.320 --> 0:05:49.520
<v Speaker 7>you had your percentage that was put in. Now you're

0:05:49.520 --> 0:05:52.040
<v Speaker 7>doing eleven hundred, but you have partners.

0:05:52.120 --> 0:05:57.640
<v Speaker 5>Yes, great question, Yes it did change. So each city

0:05:57.640 --> 0:06:01.240
<v Speaker 5>that you go into there how you So all of

0:06:01.279 --> 0:06:03.920
<v Speaker 5>these are public housing redevelopment, So think of Brittany Greens,

0:06:05.320 --> 0:06:07.880
<v Speaker 5>think Marcie projects, et cetera.

0:06:07.920 --> 0:06:09.920
<v Speaker 6>We're taking the projects.

0:06:09.720 --> 0:06:13.320
<v Speaker 5>And creating mixed income communities because if you think about

0:06:13.320 --> 0:06:17.320
<v Speaker 5>the projects that were low density, so it's thirty acres

0:06:17.320 --> 0:06:18.800
<v Speaker 5>of land.

0:06:20.040 --> 0:06:22.280
<v Speaker 7>This episode is brought to you by P and C Bank.

0:06:22.680 --> 0:06:25.440
<v Speaker 7>A lot of people think podcasts about work are boring,

0:06:25.680 --> 0:06:29.520
<v Speaker 7>and sure they definitely can be, but understanding of professionals

0:06:29.600 --> 0:06:32.839
<v Speaker 7>routine shows us how they achieve their success little by little,

0:06:33.200 --> 0:06:36.880
<v Speaker 7>day after day. It's like banking with P and C Bank.

0:06:37.320 --> 0:06:40.160
<v Speaker 7>It might seem boring the safe plan and make calculated

0:06:40.160 --> 0:06:43.279
<v Speaker 7>decisions with your bank, but keeping your money boring is

0:06:43.279 --> 0:06:46.640
<v Speaker 7>what helps you live or more happily fulfilled life. P

0:06:46.720 --> 0:06:51.560
<v Speaker 7>and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

0:06:51.640 --> 0:06:54.240
<v Speaker 7>boring since eighteen sixty five is a service mark of

0:06:54.279 --> 0:06:57.520
<v Speaker 7>the PNC Financial Service Group, Inc. P and C Bank

0:06:57.960 --> 0:07:01.760
<v Speaker 7>National Association member FDI.

0:07:03.240 --> 0:07:03.520
<v Speaker 4>Erners.

0:07:03.560 --> 0:07:05.680
<v Speaker 7>What's up? You ever walk into a small business and

0:07:05.720 --> 0:07:09.240
<v Speaker 7>everything just works like the checkout is fast, the receipts

0:07:09.240 --> 0:07:12.800
<v Speaker 7>are digital, tipping is a breeze, and you're out the

0:07:12.840 --> 0:07:16.920
<v Speaker 7>door before the line even builds. Odds are they're using Square.

0:07:17.400 --> 0:07:20.000
<v Speaker 7>We love supporting businesses that run on Square because it

0:07:20.120 --> 0:07:23.080
<v Speaker 7>just feels seamless. Whether it's a local coffee shop, a

0:07:23.160 --> 0:07:25.600
<v Speaker 7>vendor at a pop up market, or even one of

0:07:25.600 --> 0:07:28.720
<v Speaker 7>our merch partners. Square makes it easy for them to

0:07:28.760 --> 0:07:32.600
<v Speaker 7>take payments, manage inventory, and run their business with confidence,

0:07:32.960 --> 0:07:36.280
<v Speaker 7>all from one simple system. If you're a business owner

0:07:36.440 --> 0:07:39.840
<v Speaker 7>or even just thinking about launching something soon, Square is

0:07:39.960 --> 0:07:42.040
<v Speaker 7>hands down one of the best tools out there to

0:07:42.080 --> 0:07:46.000
<v Speaker 7>help you start, run, and grow. It's not just about payments,

0:07:46.400 --> 0:07:49.040
<v Speaker 7>it's about giving you time back so you can focus

0:07:49.080 --> 0:07:51.800
<v Speaker 7>on what matters most Ready. To see how Square can

0:07:51.840 --> 0:07:56.640
<v Speaker 7>transform your business, visit Square dot com backslash go backslash

0:07:56.720 --> 0:08:00.880
<v Speaker 7>eyl to learn more that Square dot com backslash go

0:08:01.320 --> 0:08:05.520
<v Speaker 7>backslash euyl. Don't wait, don't hesitate, Let's Square handle the

0:08:05.560 --> 0:08:09.240
<v Speaker 7>back end so you can keep pushing your vision forward.

0:08:10.320 --> 0:08:13.920
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:08:14.000 --> 0:08:17.800
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:08:18.040 --> 0:08:22.160
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:08:22.240 --> 0:08:26.160
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:08:26.240 --> 0:08:30.000
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:08:30.040 --> 0:08:30.480
<v Speaker 1>Donald J.

0:08:30.560 --> 0:08:33.000
<v Speaker 2>Trump's leadership. I'm Christy Noman, the.

0:08:33.000 --> 0:08:37.600
<v Speaker 1>United States Secretary of Homeland Security. Under President Trump, attempted

0:08:37.640 --> 0:08:41.359
<v Speaker 1>illegal border crossings are at the lowest levels ever recorded,

0:08:41.679 --> 0:08:44.720
<v Speaker 1>and over one hundred thousand illegal aliens have been arrested.

0:08:45.000 --> 0:08:48.560
<v Speaker 1>If you are here illegally, your next you will be

0:08:48.600 --> 0:08:50.640
<v Speaker 1>fined nearly one thousand dollars.

0:08:50.360 --> 0:08:54.120
<v Speaker 2>A day, imprisoned, and deported. You will never return.

0:08:54.440 --> 0:08:57.440
<v Speaker 1>But if you register using our CBP home app and

0:08:57.559 --> 0:09:00.440
<v Speaker 1>leave now, you could be allowed to return legally.

0:09:00.800 --> 0:09:03.000
<v Speaker 2>Do what's right to leave now.

0:09:03.360 --> 0:09:07.720
<v Speaker 1>Under President Trump America's laws, border and families will.

0:09:07.520 --> 0:09:10.000
<v Speaker 3>Be protected sponsored by the United States Department of Homeland

0:09:10.000 --> 0:09:12.680
<v Speaker 3>Security with three hundred units on it.

0:09:13.320 --> 0:09:15.640
<v Speaker 5>That's saying thirty acres could do three thousand if you

0:09:15.679 --> 0:09:18.640
<v Speaker 5>really wanted to, right, but you don't want to, you

0:09:18.640 --> 0:09:20.280
<v Speaker 5>don't want to go that dence, but that's just an

0:09:20.280 --> 0:09:21.160
<v Speaker 5>example of.

0:09:22.960 --> 0:09:24.200
<v Speaker 6>What you are going after.

0:09:24.280 --> 0:09:29.040
<v Speaker 5>So because the housing authorities typically own those lands, whoever

0:09:29.120 --> 0:09:32.560
<v Speaker 5>is at the housing authority, they kind of dictate the

0:09:32.600 --> 0:09:35.680
<v Speaker 5>negotiation of like the housing authority and developer. In those terms,

0:09:35.840 --> 0:09:39.520
<v Speaker 5>the housing authority gets X percentage and then the developers

0:09:39.520 --> 0:09:42.360
<v Speaker 5>gets why percentage and right now integrew and I are

0:09:42.520 --> 0:09:46.160
<v Speaker 5>splitting that percentage, but it's very favorable, like it's pretty

0:09:46.200 --> 0:09:48.199
<v Speaker 5>close to where.

0:09:48.000 --> 0:09:48.440
<v Speaker 6>It should be.

0:09:48.480 --> 0:09:53.240
<v Speaker 5>And the way we work they come. I'm driving, but

0:09:53.320 --> 0:09:55.480
<v Speaker 5>they're they're every step of the way in the passenger seat,

0:09:55.800 --> 0:09:57.440
<v Speaker 5>so I'm able to learn from it in their experience.

0:09:57.480 --> 0:10:00.000
<v Speaker 5>They've developed, built and manage over ten thousand plus units.

0:10:00.200 --> 0:10:02.960
<v Speaker 5>They've been doing this, they created the model. I'm learning

0:10:03.000 --> 0:10:06.200
<v Speaker 5>from them, but I'm driving the ship at the same time.

0:10:06.760 --> 0:10:09.040
<v Speaker 5>So yes, I have to share in the economics, but

0:10:10.120 --> 0:10:12.480
<v Speaker 5>you know, three four hundred million dollar deals a pop,

0:10:13.960 --> 0:10:14.760
<v Speaker 5>I don't mind sharing.

0:10:15.120 --> 0:10:15.880
<v Speaker 6>We can figure it out.

0:10:16.600 --> 0:10:19.080
<v Speaker 4>So talk about access to capital, that's something that you

0:10:19.120 --> 0:10:22.960
<v Speaker 4>know down people. A lot of people haven't talked about.

0:10:23.400 --> 0:10:26.880
<v Speaker 4>What is your thoughts on access to capital as far

0:10:26.920 --> 0:10:28.800
<v Speaker 4>as doing the real estate development side and what's your

0:10:28.840 --> 0:10:31.920
<v Speaker 4>personal experience is trying to get access to capital.

0:10:32.679 --> 0:10:35.760
<v Speaker 5>The money on this commercial real estate side. Like I said,

0:10:35.800 --> 0:10:37.640
<v Speaker 5>the money is gonna be there. If you got to

0:10:37.640 --> 0:10:40.200
<v Speaker 5>deal to work, the money's gonna flow at the end

0:10:40.240 --> 0:10:42.760
<v Speaker 5>of the day. Now the terms for the money talked

0:10:42.760 --> 0:10:46.280
<v Speaker 5>about before, that's where it gets a little tricky. I'll

0:10:46.320 --> 0:10:49.480
<v Speaker 5>say in a way of George Floyd, there was an

0:10:50.120 --> 0:10:54.160
<v Speaker 5>eighteen month period maybe even a little. I mean, it's

0:10:54.200 --> 0:10:57.880
<v Speaker 5>still kind of there, but it's scaling back where they

0:10:57.880 --> 0:11:00.040
<v Speaker 5>were throwing money at black developers.

0:11:00.240 --> 0:11:02.080
<v Speaker 4>Move stolen money like Black Rock.

0:11:02.800 --> 0:11:06.199
<v Speaker 6>Uh No, that's a great question. So like the Paypals

0:11:06.200 --> 0:11:06.760
<v Speaker 6>of the world.

0:11:06.600 --> 0:11:08.360
<v Speaker 5>When they was giving out all of the like oh

0:11:08.400 --> 0:11:11.600
<v Speaker 5>I want to invest in black communities, primarily went to

0:11:12.040 --> 0:11:15.319
<v Speaker 5>cdffi's Community Development Financial Institution that we talked about last time.

0:11:15.600 --> 0:11:18.120
<v Speaker 5>There's some national cdf fis that governed some of those

0:11:18.160 --> 0:11:20.160
<v Speaker 5>funds and they've been able to kind of distill those

0:11:20.160 --> 0:11:22.880
<v Speaker 5>funds to us. So like Enterprise Community Partners that my

0:11:22.920 --> 0:11:25.600
<v Speaker 5>equity investors on the Madison deal, they have a program

0:11:25.640 --> 0:11:27.040
<v Speaker 5>called Equitable Path Forward.

0:11:27.880 --> 0:11:31.199
<v Speaker 6>Their CEO just took over Fanny May.

0:11:31.360 --> 0:11:36.040
<v Speaker 5>So that's the scale of how big these CDFIs are now.

0:11:37.120 --> 0:11:40.000
<v Speaker 6>They're one of their presidents, Lori Chapman.

0:11:40.120 --> 0:11:43.079
<v Speaker 5>She created this program based upon all of that money

0:11:43.080 --> 0:11:45.600
<v Speaker 5>that was coming in from the corporations that we're trying

0:11:45.600 --> 0:11:48.359
<v Speaker 5>to give to black dollars, and this program.

0:11:48.040 --> 0:11:49.880
<v Speaker 6>Is specifically created to be able to.

0:11:51.480 --> 0:11:54.240
<v Speaker 5>They have lines of credit for us from an operational

0:11:54.280 --> 0:11:57.160
<v Speaker 5>business perspective. They have pre development loans so you can

0:11:57.200 --> 0:12:00.240
<v Speaker 5>go out each one of these deals, you need at

0:12:00.320 --> 0:12:02.199
<v Speaker 5>least a half a million, anywhere from a half a

0:12:02.200 --> 0:12:05.079
<v Speaker 5>million to a million before you close. You get it

0:12:05.120 --> 0:12:07.480
<v Speaker 5>all back when you finish, but you need that before

0:12:07.480 --> 0:12:09.560
<v Speaker 5>you close. And when you talk about like capacity, that's

0:12:09.559 --> 0:12:11.680
<v Speaker 5>one of the things too. If you have five of

0:12:11.720 --> 0:12:14.280
<v Speaker 5>these deals going on at one time, you're gonna need

0:12:14.320 --> 0:12:16.320
<v Speaker 5>two and a half to five million dollars worth of

0:12:16.360 --> 0:12:18.880
<v Speaker 5>capital just to deploy to that, not even talking about

0:12:18.920 --> 0:12:21.680
<v Speaker 5>your operations and nothing like that. So they have programs

0:12:21.679 --> 0:12:23.840
<v Speaker 5>that are allowing for developers to be able to tap

0:12:23.880 --> 0:12:27.160
<v Speaker 5>into those type of money that helps us grow in scale.

0:12:27.640 --> 0:12:31.240
<v Speaker 5>But the flip side of it is that's all the

0:12:31.559 --> 0:12:34.120
<v Speaker 5>you know, kind of feel good money that's gonna flip.

0:12:34.240 --> 0:12:40.560
<v Speaker 5>But to don people's point, black people don't manage big

0:12:40.720 --> 0:12:44.560
<v Speaker 5>pension funds at all. Right, I've heard him talk about

0:12:44.600 --> 0:12:47.520
<v Speaker 5>it on y'all's platform. At the end of the day,

0:12:47.559 --> 0:12:49.600
<v Speaker 5>we're less than one percent of all of the management,

0:12:50.480 --> 0:12:54.880
<v Speaker 5>Black brown women less than one percent of all assets managed.

0:12:54.880 --> 0:12:57.080
<v Speaker 5>But if in New York, for example, with black, brown

0:12:57.120 --> 0:12:59.360
<v Speaker 5>and women, it's over fifty percent of what's going into

0:12:59.360 --> 0:13:02.240
<v Speaker 5>that pension fund, why is it less than one percent

0:13:02.280 --> 0:13:05.040
<v Speaker 5>of us managing or having access to manage those funds?

0:13:05.480 --> 0:13:07.720
<v Speaker 5>What is the governance around that to say, oh, you

0:13:07.800 --> 0:13:09.920
<v Speaker 5>are not capable enough to do that.

0:13:09.920 --> 0:13:10.720
<v Speaker 6>That's still a.

0:13:10.640 --> 0:13:13.240
<v Speaker 5>Really big challenge to be able to even go from

0:13:13.240 --> 0:13:15.920
<v Speaker 5>someone like myself that's a developer that's established, to get

0:13:15.920 --> 0:13:19.920
<v Speaker 5>into fund management and be able to allocate to either

0:13:20.160 --> 0:13:23.400
<v Speaker 5>my developments or other developers in the same way as

0:13:23.480 --> 0:13:28.160
<v Speaker 5>some of these traditional majority firms are doing with no problem.

0:13:28.600 --> 0:13:31.840
<v Speaker 5>So that's really a challenge that I think needs to

0:13:31.840 --> 0:13:34.160
<v Speaker 5>be addressed, and I'm doing my job to do it.

0:13:34.160 --> 0:13:36.600
<v Speaker 5>So Reinvestor is a platform and I'm creating now. It's

0:13:36.640 --> 0:13:41.280
<v Speaker 5>a crowdfunding platform that democratizes commercial real esset investment. My

0:13:41.400 --> 0:13:44.840
<v Speaker 5>mother can invest, your parents can invest unless they are accredited.

0:13:44.960 --> 0:13:46.599
<v Speaker 6>Historically, but you've seen.

0:13:46.360 --> 0:13:48.719
<v Speaker 5>Crowdfundings start to grow in the real estate space a

0:13:48.760 --> 0:13:52.800
<v Speaker 5>little bit. So I'm doing a regulation a plus. We

0:13:52.840 --> 0:13:55.000
<v Speaker 5>can raise up to seventy five million. I'm gonna put

0:13:55.000 --> 0:13:58.960
<v Speaker 5>a portfolio of deals together and have people invest in

0:13:58.960 --> 0:14:02.480
<v Speaker 5>that and back by the best of the best in

0:14:02.520 --> 0:14:05.040
<v Speaker 5>the country that are doing it, so it's secure by

0:14:05.040 --> 0:14:08.680
<v Speaker 5>those funds, I mean buy those firms, and we underwrite deals.

0:14:08.679 --> 0:14:12.280
<v Speaker 5>We co invest in the deals. It's not like investing

0:14:12.320 --> 0:14:14.680
<v Speaker 5>in a company. It's not like investing in a onesie deal.

0:14:14.800 --> 0:14:14.959
<v Speaker 3>Like.

0:14:15.440 --> 0:14:19.440
<v Speaker 5>We are putting together sophistication in a way that the

0:14:19.480 --> 0:14:22.040
<v Speaker 5>marketplace has not seen. So that's one of the ways

0:14:22.040 --> 0:14:25.680
<v Speaker 5>that I'm addressing the access to capital challenge for emerging

0:14:25.720 --> 0:14:28.480
<v Speaker 5>developers that are like me and coming up behind me too.

0:14:28.920 --> 0:14:32.600
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:14:32.640 --> 0:14:36.400
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:14:36.680 --> 0:14:40.800
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:14:40.880 --> 0:14:44.760
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:14:44.880 --> 0:14:48.640
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:14:48.640 --> 0:14:49.080
<v Speaker 1>Donald J.

0:14:49.160 --> 0:14:50.120
<v Speaker 2>Trump's leadership.

0:14:50.440 --> 0:14:54.040
<v Speaker 1>I'm Christy Noman, the United States Secretary of Homeland Security.

0:14:54.360 --> 0:14:58.120
<v Speaker 1>Under President Trump, attempted illegal border crossings are at the

0:14:58.160 --> 0:15:02.040
<v Speaker 1>lowest levels ever recorded, and over one hundred thousand illegal

0:15:02.080 --> 0:15:05.880
<v Speaker 1>aliens have been arrested. If you are here illegally, your

0:15:05.960 --> 0:15:09.200
<v Speaker 1>next you will be fine nearly one thousand dollars.

0:15:09.000 --> 0:15:12.720
<v Speaker 2>A day, imprisoned, and deported. You will never return.

0:15:13.040 --> 0:15:16.080
<v Speaker 1>But if you register using our CBP home app and

0:15:16.160 --> 0:15:19.040
<v Speaker 1>leave now, you could be allowed to return legally.

0:15:19.400 --> 0:15:21.640
<v Speaker 2>Do what's right, leave now.

0:15:21.960 --> 0:15:26.760
<v Speaker 1>Under President Trump, America's laws, border and families will be protected.

0:15:26.840 --> 0:15:29.000
<v Speaker 3>Sponsored by the United States Department of Homeland Security,