1 00:00:16,040 --> 00:00:18,800 Speaker 1: Hey, hey va fam, it's Mandra here. Thank you so 2 00:00:18,960 --> 00:00:21,319 Speaker 1: much for continuing to rock with us. I know that 3 00:00:21,360 --> 00:00:24,480 Speaker 1: it's been a different kind of show these past few 4 00:00:24,520 --> 00:00:27,480 Speaker 1: weeks as we're giving our beloved Tiffany the time that 5 00:00:27,520 --> 00:00:30,960 Speaker 1: she needs to heal. Thank you again for your continued support. 6 00:00:31,480 --> 00:00:34,320 Speaker 1: I have to say though, this episode has been I 7 00:00:34,320 --> 00:00:37,919 Speaker 1: guess seven years in the making. Tanya Rappily is the 8 00:00:37,960 --> 00:00:41,280 Speaker 1: millennial money expert and creator of the award winning site 9 00:00:41,400 --> 00:00:43,879 Speaker 1: my fab Finance. And for those of you who may 10 00:00:43,920 --> 00:00:46,680 Speaker 1: not know, you're gonna find out on today's show some 11 00:00:46,880 --> 00:00:51,840 Speaker 1: og financial influencer history when it comes to Tanya, Tiffany, 12 00:00:52,280 --> 00:00:55,400 Speaker 1: and a group called the Frugal Fab Five. I didn't 13 00:00:55,400 --> 00:00:58,080 Speaker 1: even know of this story, but Tanya joins the show 14 00:00:58,120 --> 00:01:00,840 Speaker 1: today not just to catch up on what she's been 15 00:01:00,920 --> 00:01:04,440 Speaker 1: up to the past seven years since launching her business 16 00:01:04,920 --> 00:01:08,639 Speaker 1: back in twenty fourteen, but also how she was able 17 00:01:08,680 --> 00:01:13,520 Speaker 1: to finally hit her first million dollar year of business. Yes, 18 00:01:14,440 --> 00:01:17,759 Speaker 1: I was so inspired by my conversation with Tanya, especially 19 00:01:17,920 --> 00:01:20,640 Speaker 1: when we started talking about a subject that I really 20 00:01:20,680 --> 00:01:24,920 Speaker 1: hadn't anticipated real estate. You know, as an entrepreneur, I 21 00:01:25,000 --> 00:01:27,160 Speaker 1: sort of assumed that as soon as I launched my 22 00:01:27,200 --> 00:01:30,640 Speaker 1: own business, getting a traditional mortgage was just something that 23 00:01:30,800 --> 00:01:33,880 Speaker 1: was either going to be a huge, massive headache or 24 00:01:33,920 --> 00:01:36,760 Speaker 1: even just be not possible for me. But Tanya is 25 00:01:36,800 --> 00:01:39,240 Speaker 1: proving that even though she runs her own business and 26 00:01:39,280 --> 00:01:42,440 Speaker 1: by the way, her husband is also self employed, they 27 00:01:42,480 --> 00:01:46,000 Speaker 1: are launching the very beginnings of what will soon become, 28 00:01:46,120 --> 00:01:48,800 Speaker 1: I'm sure, based on Tanya and how she's always killing 29 00:01:48,800 --> 00:01:52,400 Speaker 1: the game, a mini real estate empire. They just purchased 30 00:01:52,440 --> 00:01:56,480 Speaker 1: their first investment property in Atlanta, and Tanya's gonna tell 31 00:01:56,560 --> 00:01:59,560 Speaker 1: us all about it, like how they got alone using 32 00:01:59,560 --> 00:02:03,280 Speaker 1: something called hard money, Like what is that? Tanya really 33 00:02:03,360 --> 00:02:05,200 Speaker 1: lays it all out for us today, and I hope 34 00:02:05,200 --> 00:02:08,040 Speaker 1: that you guys feel inspired and also learn a little 35 00:02:08,040 --> 00:02:11,840 Speaker 1: bit about the alternative ways to invest in real estate 36 00:02:12,240 --> 00:02:14,519 Speaker 1: and even the fact that it may feel like it's 37 00:02:14,520 --> 00:02:17,400 Speaker 1: out of reach, but there really are some good tools 38 00:02:17,440 --> 00:02:20,200 Speaker 1: and products out there that can help you launch your 39 00:02:20,240 --> 00:02:24,200 Speaker 1: own venture into real estate. So, without further ado, here 40 00:02:24,280 --> 00:02:28,000 Speaker 1: is my conversation with Tanya Raply of my fab Finance. 41 00:02:30,240 --> 00:02:33,960 Speaker 1: I am so I'm shocked and excited today. I'm shocked 42 00:02:34,000 --> 00:02:36,520 Speaker 1: that it has been this long and we've never had 43 00:02:36,560 --> 00:02:39,480 Speaker 1: Tanya rap ly on the show. But today I am 44 00:02:39,520 --> 00:02:42,400 Speaker 1: so excited because we are finally making it happen. Hello, 45 00:02:42,480 --> 00:02:43,240 Speaker 1: Miss Tanya. 46 00:02:43,760 --> 00:02:48,200 Speaker 2: Hey, yeah, I think the last time you reached out, 47 00:02:48,280 --> 00:02:51,560 Speaker 2: I was like in the throes of like morning sickness. 48 00:02:51,600 --> 00:02:53,280 Speaker 3: It was like, this ain't gonna work. 49 00:02:53,639 --> 00:02:56,720 Speaker 1: Yeah. Yeah, I'm glad you chose yourself in that inside. 50 00:02:56,800 --> 00:02:57,560 Speaker 3: Yeah. 51 00:02:57,760 --> 00:02:59,400 Speaker 1: But for those of you who do not know Miss 52 00:02:59,400 --> 00:03:07,360 Speaker 1: Tanya of my fab Finance, personal finance educator, badass entrepreneur. Yeah, 53 00:03:07,360 --> 00:03:10,440 Speaker 1: she's a mom, but that's not it. A NEWB real 54 00:03:10,560 --> 00:03:13,960 Speaker 1: estate entrepreneur as well, because we're never going to stop 55 00:03:14,000 --> 00:03:17,639 Speaker 1: adding things to the after our names apparently just keep going. 56 00:03:18,240 --> 00:03:20,320 Speaker 1: But I am so excited to talk to you because 57 00:03:20,560 --> 00:03:23,200 Speaker 1: I mean, y'all, we have Tiffany and I both, but 58 00:03:23,320 --> 00:03:25,720 Speaker 1: I have known Tanya since two thousand and we all 59 00:03:25,720 --> 00:03:27,280 Speaker 1: met at fin Con, I feel like for the first 60 00:03:27,320 --> 00:03:31,960 Speaker 1: time in person twenty fourteen, thirteen fourteen, and it was 61 00:03:32,200 --> 00:03:35,880 Speaker 1: when my fab finance was just kind of getting kicked off. 62 00:03:35,880 --> 00:03:36,840 Speaker 1: When did you start all of that? 63 00:03:37,440 --> 00:03:37,800 Speaker 3: Yeah? 64 00:03:37,920 --> 00:03:40,360 Speaker 2: So you know, I think I know Tiffany a little 65 00:03:40,440 --> 00:03:43,760 Speaker 2: longer than I've known you, because I met Tiffany early 66 00:03:43,800 --> 00:03:44,520 Speaker 2: on in my journey. 67 00:03:44,520 --> 00:03:45,720 Speaker 3: She was one of my early. 68 00:03:45,520 --> 00:03:50,000 Speaker 2: Mentors, but my fab Fini had started in January of 69 00:03:50,080 --> 00:03:53,880 Speaker 2: twenty thirteen. My goal was to get a seven thirty 70 00:03:53,880 --> 00:03:56,720 Speaker 2: credit score by the time, a seven hundred credit score 71 00:03:56,760 --> 00:03:59,600 Speaker 2: by the time I turned thirty years old, and I 72 00:03:59,640 --> 00:04:02,920 Speaker 2: wanted to close for Macy's. Those were my ambitions when 73 00:04:02,960 --> 00:04:06,040 Speaker 2: I started it in twenty and thirteen, and here we 74 00:04:06,080 --> 00:04:11,760 Speaker 2: are in twenty twenty two with a multimillion dollar business 75 00:04:12,080 --> 00:04:15,400 Speaker 2: and other things that have been offshoots of that. So 76 00:04:15,480 --> 00:04:17,840 Speaker 2: it's been a journey, but we met. Yeah, fen Con, 77 00:04:17,880 --> 00:04:20,159 Speaker 2: I think Black Enterprise is about to happen. 78 00:04:20,920 --> 00:04:22,480 Speaker 3: Yeah, yeah. 79 00:04:22,480 --> 00:04:26,039 Speaker 1: When I saw that cover, you got the cover Black Enterprise, right, yeah, 80 00:04:26,120 --> 00:04:28,880 Speaker 1: I mean that was no joke and just slaying ever since. 81 00:04:28,920 --> 00:04:30,240 Speaker 1: But listen, I mean one of the things that we 82 00:04:30,240 --> 00:04:33,040 Speaker 1: talk about on Brown Ambition is it really is about 83 00:04:33,040 --> 00:04:35,599 Speaker 1: the journey. Everyone who was tuning into the show today 84 00:04:35,760 --> 00:04:38,200 Speaker 1: is just kind of hearing. I don't know, it's definitely 85 00:04:38,200 --> 00:04:39,760 Speaker 1: I don't want to call it the epilogue, but we 86 00:04:39,800 --> 00:04:41,760 Speaker 1: are like two third I mean, you're always a work 87 00:04:41,760 --> 00:04:44,720 Speaker 1: in progress, right, but we're pretty far in the Tanya journey, right, 88 00:04:44,760 --> 00:04:47,479 Speaker 1: I mean, and this is the this is the You're 89 00:04:47,480 --> 00:04:49,840 Speaker 1: seeing all the fruits of all those seeds that you 90 00:04:49,920 --> 00:04:52,919 Speaker 1: have been planting for the past eight seven eight, you 91 00:04:52,920 --> 00:04:55,320 Speaker 1: know years now. So let's back up a little bit. 92 00:04:55,680 --> 00:04:58,640 Speaker 1: How do you get to be a multimillion dollar And 93 00:04:58,640 --> 00:05:02,039 Speaker 1: by the way, congratulations, because I know you're multimillions over times, 94 00:05:02,040 --> 00:05:05,719 Speaker 1: but this was your first million dollar year in twenty 95 00:05:05,760 --> 00:05:10,400 Speaker 1: twenty one, in a single year. That is extraordinary from 96 00:05:10,440 --> 00:05:13,760 Speaker 1: something that you built, that you created, you know what 97 00:05:13,839 --> 00:05:14,120 Speaker 1: I mean. 98 00:05:14,160 --> 00:05:15,400 Speaker 3: It still feels. 99 00:05:16,560 --> 00:05:19,200 Speaker 2: I mean I felt it right like I was doing 100 00:05:19,240 --> 00:05:22,960 Speaker 2: that work, like I felt it. But it still feels surreal. 101 00:05:23,360 --> 00:05:27,440 Speaker 2: And I think that when black enterprise happens. A black 102 00:05:27,520 --> 00:05:30,120 Speaker 2: enterprise happened in twenty and fourteen. I left my job 103 00:05:30,160 --> 00:05:32,960 Speaker 2: in twenty and fifteen to do this full time, and 104 00:05:33,040 --> 00:05:35,800 Speaker 2: there's been so many I'm really thankful. There's been so 105 00:05:35,839 --> 00:05:38,960 Speaker 2: many remarkable things that have happened along the way. And 106 00:05:39,000 --> 00:05:40,840 Speaker 2: I remember everybody's like, this is your time, this is 107 00:05:40,880 --> 00:05:42,599 Speaker 2: your time, this is your time, this is your time. 108 00:05:42,600 --> 00:05:46,720 Speaker 2: And I just feel like our time is as long 109 00:05:46,760 --> 00:05:48,240 Speaker 2: as we want to hold it, as long as you're 110 00:05:48,240 --> 00:05:50,000 Speaker 2: willing to work for it, as long as it's you know, 111 00:05:50,000 --> 00:05:53,800 Speaker 2: it's supposed to be. So I still feel like I 112 00:05:54,920 --> 00:05:57,120 Speaker 2: don't know, Mandy, like I feel like I haven't even 113 00:05:57,200 --> 00:05:59,720 Speaker 2: hit my prime yet. I feel like I feel the 114 00:05:59,760 --> 00:06:05,080 Speaker 2: same ye say, this is just the beginning. I'm really thankful, 115 00:06:05,080 --> 00:06:06,640 Speaker 2: but I feel like I haven't even hit my prime. 116 00:06:08,120 --> 00:06:10,440 Speaker 1: It's scary to think that too. I mean, well, scary 117 00:06:10,480 --> 00:06:12,680 Speaker 1: in one way. It's like the scary excitement. I told 118 00:06:12,720 --> 00:06:15,279 Speaker 1: my husband at the beginning of this year. You know, 119 00:06:15,320 --> 00:06:17,559 Speaker 1: I had some and I'm a newbie. I'm a baby. 120 00:06:17,600 --> 00:06:19,960 Speaker 1: I'm kind of like where U, Tiff, and everyone else 121 00:06:20,000 --> 00:06:23,160 Speaker 1: were seven eight years ago. I'm a baby entrepreneur now. 122 00:06:23,520 --> 00:06:25,920 Speaker 1: But I told my husband, I was like, I have 123 00:06:26,000 --> 00:06:28,120 Speaker 1: no idea what twenty twenty two is going to look like, 124 00:06:28,200 --> 00:06:31,600 Speaker 1: but I'm already excited for the like the opportunities that 125 00:06:31,640 --> 00:06:33,280 Speaker 1: I know are going to I just feel it, you 126 00:06:33,320 --> 00:06:34,800 Speaker 1: know what I mean. I just feel like this is 127 00:06:34,839 --> 00:06:39,000 Speaker 1: not it. I've got so much room to grow, and 128 00:06:39,360 --> 00:06:41,799 Speaker 1: I don't know how. I feel like what you're expressing 129 00:06:41,880 --> 00:06:44,760 Speaker 1: right now is similar to that. It's like the excitement 130 00:06:44,839 --> 00:06:49,520 Speaker 1: of possibility and knowing every day it's like preparing for 131 00:06:49,560 --> 00:06:52,839 Speaker 1: that next that next exciting email to hit your inbox. 132 00:06:52,880 --> 00:06:54,839 Speaker 1: You know those you yes and. 133 00:06:54,960 --> 00:06:56,880 Speaker 2: You know, my one of my managers used to say, 134 00:06:57,520 --> 00:07:00,440 Speaker 2: I've seen people's life change with the email, and it's 135 00:07:00,480 --> 00:07:02,599 Speaker 2: so true, like your life can literally change for the 136 00:07:02,640 --> 00:07:05,400 Speaker 2: better with one email. But then also like, we got 137 00:07:05,440 --> 00:07:07,680 Speaker 2: to put some respect on your name, Mandy, Like, yes, 138 00:07:07,760 --> 00:07:11,440 Speaker 2: you're a baby entrepreneur, but you've still been doing this 139 00:07:11,920 --> 00:07:14,600 Speaker 2: and you have such a strong network. And I think 140 00:07:14,640 --> 00:07:16,840 Speaker 2: that when you have that strong network of people, you 141 00:07:16,840 --> 00:07:19,400 Speaker 2: can call on people, you can ask questions who have 142 00:07:19,520 --> 00:07:21,080 Speaker 2: been there, who have made. 143 00:07:20,840 --> 00:07:23,680 Speaker 3: The mistakes that I don't consider your baby. 144 00:07:23,680 --> 00:07:26,080 Speaker 2: You might be a toddler, like you're not in the 145 00:07:26,160 --> 00:07:29,040 Speaker 2: infant stage, maybe a todder because you learned from so 146 00:07:29,120 --> 00:07:31,160 Speaker 2: many of our mistakes and you did it your way. 147 00:07:31,520 --> 00:07:34,360 Speaker 3: So we gotta put some respect on Mandy's name. You know. 148 00:07:34,440 --> 00:07:36,760 Speaker 1: That reminds me that I just did see you in 149 00:07:36,800 --> 00:07:39,040 Speaker 1: Atlanta not that long ago, and I feel like we 150 00:07:39,080 --> 00:07:41,320 Speaker 1: had a very similar moment where I was like trying 151 00:07:41,320 --> 00:07:44,239 Speaker 1: to downplay where I'm at and you're like, wait, wait, wait, wait, wait, 152 00:07:44,880 --> 00:07:47,240 Speaker 1: let me remind you who's who my friend Mandy is. 153 00:07:47,840 --> 00:07:50,120 Speaker 3: We ain't gonna let you do it. We're not, we not. 154 00:07:50,680 --> 00:07:54,400 Speaker 1: So I love seeing you in Atlanta and You've just 155 00:07:54,440 --> 00:07:56,440 Speaker 1: recently moved to Atlanta, right with your. 156 00:07:56,320 --> 00:07:57,280 Speaker 3: Fad in twenty twenty. 157 00:07:57,360 --> 00:07:59,280 Speaker 2: So, yeah, we moved to Atlanta in the middle of 158 00:07:59,280 --> 00:08:02,559 Speaker 2: the pandemic our house without seeing it, which was actually 159 00:08:02,600 --> 00:08:04,560 Speaker 2: a really good choice. It's been a really, really good 160 00:08:04,560 --> 00:08:08,160 Speaker 2: home for us. And so we're in We were in 161 00:08:08,200 --> 00:08:11,360 Speaker 2: California prior to moving to Atlanta, but I'm from the South. 162 00:08:12,480 --> 00:08:16,640 Speaker 2: Housing prices were just ridiculous in California, and for me, 163 00:08:17,000 --> 00:08:20,160 Speaker 2: the beauty of being location independent, the beauty of becoming 164 00:08:20,160 --> 00:08:23,280 Speaker 2: financially secure so you can choose what's in your best interest. 165 00:08:23,400 --> 00:08:26,120 Speaker 2: Is that I wanted to raise my son around my family, 166 00:08:26,320 --> 00:08:28,880 Speaker 2: Like I didn't have the liberty of that because my 167 00:08:28,920 --> 00:08:30,920 Speaker 2: mother and father were in the military, and so for me, 168 00:08:31,000 --> 00:08:32,760 Speaker 2: it was really important for my parents to be in 169 00:08:32,840 --> 00:08:35,360 Speaker 2: driving distance. As a matter of fact, I'm taking my 170 00:08:35,360 --> 00:08:38,560 Speaker 2: son to my parents' house on Wednesday and for him. 171 00:08:38,400 --> 00:08:40,280 Speaker 1: To give experience. 172 00:08:40,800 --> 00:08:41,320 Speaker 3: Yeah, I know. 173 00:08:41,360 --> 00:08:43,440 Speaker 2: And they girl, they bought a house in Florida, you know, 174 00:08:43,559 --> 00:08:45,880 Speaker 2: and so I like, yeah, I'm going to Florida on 175 00:08:45,960 --> 00:08:48,760 Speaker 2: Wednesday to pop in on my parents, check on them, 176 00:08:48,800 --> 00:08:50,520 Speaker 2: and take my son so you can spend some time 177 00:08:50,559 --> 00:08:53,680 Speaker 2: with them. But it's a beautiful blessing to be closer 178 00:08:53,720 --> 00:08:56,440 Speaker 2: to them as well as Atlanta has so many opportunities. 179 00:08:57,600 --> 00:09:00,640 Speaker 3: This is this is where the enterprise is to be built. 180 00:09:00,960 --> 00:09:04,400 Speaker 1: So yeah, I can't believe you about your house sight unseen. 181 00:09:04,880 --> 00:09:07,000 Speaker 1: All right, So a million dollar a year, let's get 182 00:09:07,040 --> 00:09:08,880 Speaker 1: into it. What does that look like for you? Was 183 00:09:08,920 --> 00:09:11,800 Speaker 1: that something that you know at this point in your business? 184 00:09:12,040 --> 00:09:15,400 Speaker 1: You are and I'm understanding too, a lot of the 185 00:09:15,679 --> 00:09:17,840 Speaker 1: you know, the checks that you're cashing, you know in 186 00:09:17,920 --> 00:09:19,960 Speaker 1: advance that they're coming, like you sign a deal. And 187 00:09:20,000 --> 00:09:22,319 Speaker 1: of course it takes a while for those those cash 188 00:09:22,400 --> 00:09:24,200 Speaker 1: those checks to hit your bank account. As we know, 189 00:09:24,320 --> 00:09:26,200 Speaker 1: direct deposit likes to take its time. 190 00:09:27,400 --> 00:09:28,920 Speaker 3: But draws or immediate. 191 00:09:29,400 --> 00:09:32,000 Speaker 1: Oh yes. I was telling Chris last week on Popcorn 192 00:09:32,040 --> 00:09:33,400 Speaker 1: Finance when he was here. I was like, let me 193 00:09:33,400 --> 00:09:35,960 Speaker 1: tell you how quickly the IRS came for my deposit 194 00:09:36,240 --> 00:09:38,920 Speaker 1: from my withdrawal when I made my tax payment, and 195 00:09:39,000 --> 00:09:41,320 Speaker 1: yet my refund check will probably take two months. 196 00:09:41,360 --> 00:09:44,920 Speaker 2: But man, listen, I was just saying, I amend my taxes, 197 00:09:44,960 --> 00:09:46,920 Speaker 2: and they like, I am ended my taxes I think 198 00:09:47,040 --> 00:09:49,320 Speaker 2: in June, and I still have they still have not 199 00:09:49,400 --> 00:09:51,719 Speaker 2: processed the amendment. But that, Oh, but you want to 200 00:09:51,760 --> 00:09:54,080 Speaker 2: tell me about everything else, but you haven't processed like 201 00:09:54,120 --> 00:09:56,360 Speaker 2: my amendment and like the taxes are paid off and everything. 202 00:09:56,400 --> 00:09:58,000 Speaker 3: Okay, all right, they. 203 00:09:58,320 --> 00:10:02,880 Speaker 1: Will snatch your money quit immediately, very quick. But let's 204 00:10:02,880 --> 00:10:04,400 Speaker 1: talk about that. Did you have an idea it was 205 00:10:04,400 --> 00:10:06,680 Speaker 1: gonna be a million dollar year or was this a 206 00:10:06,679 --> 00:10:07,440 Speaker 1: goal of yours? 207 00:10:07,480 --> 00:10:07,600 Speaker 3: Like? 208 00:10:07,679 --> 00:10:09,840 Speaker 1: When did you realize this is gonna be it? Like 209 00:10:09,840 --> 00:10:11,240 Speaker 1: we're gonna I set the attention. 210 00:10:12,000 --> 00:10:14,800 Speaker 2: I set the intention in February of last year at 211 00:10:14,800 --> 00:10:18,240 Speaker 2: my friend Maya Elias's impactweeking conference, and she had this 212 00:10:18,280 --> 00:10:19,800 Speaker 2: thing where it was like road to a million and 213 00:10:19,800 --> 00:10:21,520 Speaker 2: I was like, telling you, why you keep telling yourself 214 00:10:21,520 --> 00:10:22,120 Speaker 2: that you can't. 215 00:10:21,920 --> 00:10:25,000 Speaker 3: Make a million in a year. Why have you counted 216 00:10:25,040 --> 00:10:27,240 Speaker 3: this out of your story? You can do this. 217 00:10:27,760 --> 00:10:30,600 Speaker 2: And so that weekend I committed to like, Okay, this 218 00:10:30,640 --> 00:10:33,760 Speaker 2: is gonna be my first million dollar year. And I 219 00:10:33,800 --> 00:10:35,440 Speaker 2: think it really hit me that it was gonna be 220 00:10:35,440 --> 00:10:40,800 Speaker 2: my first million dollar year. Around June, when I signed 221 00:10:40,800 --> 00:10:44,240 Speaker 2: my biggest brand partnership to date, it was almost half 222 00:10:44,240 --> 00:10:45,840 Speaker 2: a million dollars, and. 223 00:10:45,720 --> 00:10:48,360 Speaker 3: I was like, Oh, it's gonna be a year. 224 00:10:49,400 --> 00:10:52,360 Speaker 2: And then August I was sitting there and I was like, 225 00:10:52,400 --> 00:10:54,880 Speaker 2: I think at like seven hundred and something thousand dollars, 226 00:10:54,920 --> 00:10:55,319 Speaker 2: and I was. 227 00:10:55,280 --> 00:10:57,959 Speaker 3: Like, Oh, this is gonna be a million dollar year. 228 00:10:57,960 --> 00:11:01,320 Speaker 2: Like if I made seven hundred thousand dollars in eight months, 229 00:11:01,920 --> 00:11:04,920 Speaker 2: I can make three hundred thousand dollars three hundred thousand. 230 00:11:04,559 --> 00:11:08,680 Speaker 3: More by the end of this year. So we passed that. 231 00:11:08,760 --> 00:11:12,160 Speaker 3: We hit one point two. Which is it? 232 00:11:14,040 --> 00:11:17,880 Speaker 2: You know, I think it's a culmination of everything. It's 233 00:11:17,920 --> 00:11:19,880 Speaker 2: a culmination of me having the right team in place. 234 00:11:20,160 --> 00:11:22,400 Speaker 2: It was a culmination of me having the right relationships 235 00:11:22,440 --> 00:11:24,840 Speaker 2: in place. It is a cummination of me having the 236 00:11:24,880 --> 00:11:29,520 Speaker 2: work ethic in place, and all those things combined, I 237 00:11:29,559 --> 00:11:32,240 Speaker 2: think led to and the willingness and the belief that 238 00:11:32,320 --> 00:11:34,560 Speaker 2: it was possible. I think it was all those things 239 00:11:34,960 --> 00:11:37,480 Speaker 2: that led to making it possible and that will lead 240 00:11:37,520 --> 00:11:40,600 Speaker 2: to future million dollar years. So I'm really slow to 241 00:11:41,160 --> 00:11:42,840 Speaker 2: ease into my years. I kind of feel like I 242 00:11:42,880 --> 00:11:46,200 Speaker 2: have like a New Year hangover, and like, just like 243 00:11:46,280 --> 00:11:49,520 Speaker 2: last year, I didn't set my goals until February this year, like, Okay, 244 00:11:49,720 --> 00:11:51,280 Speaker 2: I'm like, all right, this year, we want to do 245 00:11:51,760 --> 00:11:55,160 Speaker 2: one point five to two million. So the work starts now. 246 00:11:55,240 --> 00:11:58,120 Speaker 2: Tomorrow's February first. For me, the work starts now, so 247 00:11:58,280 --> 00:12:01,400 Speaker 2: I give myself. I really like to take December off ideally, 248 00:12:01,840 --> 00:12:05,560 Speaker 2: so give myself February to November to make it happen. 249 00:12:06,280 --> 00:12:08,720 Speaker 1: Oh I love that. And I also think like whenever, 250 00:12:09,040 --> 00:12:12,640 Speaker 1: even if you decided, you know, June or September or October, 251 00:12:12,679 --> 00:12:14,839 Speaker 1: whenever you decide, like that's the day that matters these 252 00:12:14,880 --> 00:12:17,520 Speaker 1: whole Like make a resolution just because it's January first, Like, 253 00:12:17,559 --> 00:12:19,640 Speaker 1: come on, now, we know dreams. 254 00:12:19,320 --> 00:12:20,480 Speaker 3: Can happen, end of time. 255 00:12:20,800 --> 00:12:23,120 Speaker 2: And I don't take I don't take resolutions for granted. 256 00:12:23,240 --> 00:12:26,040 Speaker 2: I don't take like goal setting for granted. Evening the 257 00:12:26,040 --> 00:12:29,240 Speaker 2: other day, I was thinking about how I want to 258 00:12:30,200 --> 00:12:32,559 Speaker 2: create space for me to go away and think about 259 00:12:32,559 --> 00:12:34,600 Speaker 2: my goals and I really write them down and commit 260 00:12:34,640 --> 00:12:36,840 Speaker 2: them to paper. I don't want to just be oh, okay, 261 00:12:36,840 --> 00:12:38,839 Speaker 2: I'm gonna sit here and think about it in my office. 262 00:12:38,880 --> 00:12:40,760 Speaker 2: I really want to connect to myself and make sure 263 00:12:40,800 --> 00:12:43,400 Speaker 2: that my goals are sol aligned. That's always what my 264 00:12:43,440 --> 00:12:47,560 Speaker 2: work has been about, is like soul aligned, wealth creation. 265 00:12:47,600 --> 00:12:50,560 Speaker 1: Soul s o U L aligned, Yes, s o U. 266 00:12:50,640 --> 00:12:52,320 Speaker 3: L like soul like I want to. 267 00:12:52,360 --> 00:12:55,000 Speaker 2: I wanted to be aligned with my divine assignment and 268 00:12:55,000 --> 00:12:57,600 Speaker 2: what I'm here to do. So I'm going to take 269 00:12:57,640 --> 00:13:01,160 Speaker 2: some time and we'll iron those things that out in 270 00:13:01,200 --> 00:13:01,960 Speaker 2: the coming weeks. 271 00:13:02,440 --> 00:13:06,040 Speaker 3: But right now, you know, we're just flowing. We're just 272 00:13:06,080 --> 00:13:07,199 Speaker 3: we're flowing into the year. 273 00:13:07,640 --> 00:13:10,400 Speaker 1: Tell me more about that that weekend or what was 274 00:13:10,440 --> 00:13:14,480 Speaker 1: that you said, the Road to a Million Maya Elliott, Yes, Impact. 275 00:13:14,080 --> 00:13:17,280 Speaker 2: American program, Maya who actually is a good friend of 276 00:13:17,280 --> 00:13:19,680 Speaker 2: all of us. So those who I don't know people 277 00:13:19,840 --> 00:13:23,760 Speaker 2: probably are OG's. But early on in my financial journey, 278 00:13:23,800 --> 00:13:26,040 Speaker 2: and I think Tiffany was about five six years into 279 00:13:26,040 --> 00:13:28,600 Speaker 2: her journey, we had this collective called the Frugal Fab Five. 280 00:13:29,120 --> 00:13:34,240 Speaker 2: It was Tiffany, myself, Marcia Barnes, the finance bar Kara 281 00:13:34,320 --> 00:13:36,520 Speaker 2: Stevens of Frugal Feminista, and at the time I had 282 00:13:36,520 --> 00:13:39,559 Speaker 2: a business partner, Tiffany Victoria for my fab Finance, and 283 00:13:39,600 --> 00:13:42,040 Speaker 2: we were a Frugal Fab five and we actually like 284 00:13:42,120 --> 00:13:43,480 Speaker 2: traveled around and did events. 285 00:13:43,520 --> 00:13:45,560 Speaker 3: We did something at the cis of legend. 286 00:13:46,240 --> 00:13:49,880 Speaker 1: I forgot about this legendary. 287 00:13:49,400 --> 00:13:53,880 Speaker 2: Old finance history, finance OG history, and so we we 288 00:13:53,920 --> 00:13:58,240 Speaker 2: did these events together and Maya actually designed our flyers 289 00:13:58,679 --> 00:14:02,160 Speaker 2: for our our programs. That we were doing together as 290 00:14:02,200 --> 00:14:04,960 Speaker 2: well as she was our photographer at our event in Charlotte, 291 00:14:05,000 --> 00:14:08,000 Speaker 2: North Carolina. And so Maya's been a friend of ours 292 00:14:08,000 --> 00:14:12,520 Speaker 2: for so long, and she's pivoted into helping women create 293 00:14:12,760 --> 00:14:15,960 Speaker 2: brand and live with impact and purpose. And so that's 294 00:14:16,040 --> 00:14:20,520 Speaker 2: ballooned into or blossomed into Impact Weekend in her program 295 00:14:20,720 --> 00:14:23,800 Speaker 2: build Your Impact, which as she's grown to be a 296 00:14:23,880 --> 00:14:28,720 Speaker 2: multimillion dollar program. And I was in support of her program. 297 00:14:28,720 --> 00:14:31,640 Speaker 2: You know, that's another thing in these relationships. I was 298 00:14:31,640 --> 00:14:33,680 Speaker 2: in support of her. I was there, I went to 299 00:14:33,680 --> 00:14:36,600 Speaker 2: support her, and I walked away with like okay, all right, 300 00:14:36,720 --> 00:14:40,520 Speaker 2: like inspiration and it impacted me. But the weekend is 301 00:14:40,560 --> 00:14:43,440 Speaker 2: actually coming up this weekend here in Atlanta. The week 302 00:14:43,760 --> 00:14:46,720 Speaker 2: right now is like the first weekend in February. And 303 00:14:46,800 --> 00:14:48,560 Speaker 2: so that's one of the reasons I'm taking my son 304 00:14:48,600 --> 00:14:50,400 Speaker 2: to my parents' house is because he's going to be 305 00:14:50,400 --> 00:14:53,080 Speaker 2: there so I can go just fully dive in and 306 00:14:53,200 --> 00:14:55,160 Speaker 2: learn and digest the Impact weekend. 307 00:14:55,920 --> 00:14:57,640 Speaker 1: I love. I think that that ties in so nicely 308 00:14:57,680 --> 00:14:59,920 Speaker 1: to the point you made a minute ago about setting 309 00:15:00,040 --> 00:15:03,160 Speaker 1: aside the time to think intentionally about what you want 310 00:15:03,480 --> 00:15:05,880 Speaker 1: and not letting it be something that Like for me, 311 00:15:05,920 --> 00:15:07,600 Speaker 1: it's the classic. You know, it's the end of the night. 312 00:15:07,600 --> 00:15:10,520 Speaker 1: It's ten o'clock, like the babies asleep, and you know, 313 00:15:10,560 --> 00:15:13,320 Speaker 1: I'm on the couch watching thousand pounds Sisters, Like, maybe 314 00:15:13,360 --> 00:15:15,360 Speaker 1: I should think about what I want to do next, 315 00:15:15,400 --> 00:15:18,600 Speaker 1: you know what I mean? But actually create carving out 316 00:15:18,600 --> 00:15:21,400 Speaker 1: that time and for you and and people can get 317 00:15:21,480 --> 00:15:23,720 Speaker 1: I'm sure they'll. People will google and you should like 318 00:15:23,760 --> 00:15:26,560 Speaker 1: look up, we'll put a link to to impact. What 319 00:15:26,640 --> 00:15:27,200 Speaker 1: is an impact? 320 00:15:27,440 --> 00:15:29,680 Speaker 3: Sorry, I keep for getting impact weekend. 321 00:15:29,840 --> 00:15:32,960 Speaker 1: Impact weekend in Maya's program. And that's wonderful. But whatever 322 00:15:33,000 --> 00:15:35,480 Speaker 1: that looks like for you, even just doing you know, 323 00:15:35,560 --> 00:15:39,160 Speaker 1: renting an airbnb for a couple of days or leaving 324 00:15:39,160 --> 00:15:41,360 Speaker 1: the kids with a sitter or whatever, so you have 325 00:15:41,480 --> 00:15:44,920 Speaker 1: time to think about what you want and being intentional 326 00:15:44,960 --> 00:15:47,920 Speaker 1: about it and putting that like it almost puts like 327 00:15:48,000 --> 00:15:51,120 Speaker 1: a timer on that It's it's nice because you carve 328 00:15:51,160 --> 00:15:52,720 Speaker 1: out the time, but it also gives you like a 329 00:15:52,760 --> 00:15:55,000 Speaker 1: contained amount of time so that you can't just like 330 00:15:55,040 --> 00:15:56,680 Speaker 1: put it off. You know, you're kind of forced to 331 00:15:56,720 --> 00:15:58,760 Speaker 1: spend that time and thinking about it. So now is 332 00:15:58,760 --> 00:16:00,640 Speaker 1: it something that you do on a regor their basis 333 00:16:00,760 --> 00:16:03,240 Speaker 1: or is it the annual you know, go to Maya's event, 334 00:16:03,400 --> 00:16:05,000 Speaker 1: or how do you do that for yourself kind of 335 00:16:05,000 --> 00:16:05,680 Speaker 1: throughout the year. 336 00:16:06,200 --> 00:16:08,440 Speaker 2: So one of the things that I do is as 337 00:16:08,440 --> 00:16:10,120 Speaker 2: a mom, it's important for me to have me time 338 00:16:10,120 --> 00:16:12,840 Speaker 2: where I'm only responsible for myself, and so I do 339 00:16:12,960 --> 00:16:15,880 Speaker 2: quarterly getaways. And so last year I did my thinking 340 00:16:15,960 --> 00:16:17,880 Speaker 2: during my quarterly getaway. I think I just did a 341 00:16:17,880 --> 00:16:20,520 Speaker 2: staycation here in Atlanta, got a room at the suite 342 00:16:20,520 --> 00:16:23,680 Speaker 2: at the w when it got massages, just that focus 343 00:16:23,720 --> 00:16:25,440 Speaker 2: on myself that weekend. And then I also rented a 344 00:16:25,440 --> 00:16:28,720 Speaker 2: treehouse here in Atlanta and went to the treehouse and 345 00:16:28,760 --> 00:16:32,040 Speaker 2: had like my meals prepared and everything for my chef 346 00:16:32,120 --> 00:16:34,440 Speaker 2: here and just hold up in a treehouse and did 347 00:16:34,480 --> 00:16:37,680 Speaker 2: some planning. But at once a quarter I create space 348 00:16:37,720 --> 00:16:40,280 Speaker 2: for myself just to think to myself and think in 349 00:16:40,360 --> 00:16:42,480 Speaker 2: my business, to be away so that I don't wear 350 00:16:42,600 --> 00:16:44,440 Speaker 2: the mom hat, I don't wear the wife hat. I 351 00:16:44,600 --> 00:16:47,040 Speaker 2: just wear the Tanya hat and focus on what's most 352 00:16:47,040 --> 00:16:49,560 Speaker 2: important to Tanya. And if Tanya feels good about how 353 00:16:49,600 --> 00:16:52,040 Speaker 2: she's moving through the world in her business and in 354 00:16:52,080 --> 00:16:55,360 Speaker 2: my own life, and that's really important to me because 355 00:16:55,360 --> 00:16:57,600 Speaker 2: I think that we can really get disconnected from ourselves, 356 00:16:57,720 --> 00:17:00,480 Speaker 2: especially in the social media era. We get take on 357 00:17:00,800 --> 00:17:03,920 Speaker 2: others expectations of ours. We can take on pieces of 358 00:17:03,960 --> 00:17:06,400 Speaker 2: other people's lives that don't even resonate with what we want, 359 00:17:06,440 --> 00:17:10,119 Speaker 2: but it's what's socially acceptable or socially aspired. And so 360 00:17:10,960 --> 00:17:14,400 Speaker 2: it's just that reconnection moment where I tune everything out. 361 00:17:14,480 --> 00:17:15,480 Speaker 3: I don't watch TV. 362 00:17:17,320 --> 00:17:19,560 Speaker 1: I just know thousand pounds Sisters for you. 363 00:17:19,680 --> 00:17:22,600 Speaker 3: Yeah, No, No, no SNOWFALLLL. 364 00:17:22,480 --> 00:17:27,159 Speaker 2: No, no Avid Elementary, which I'm like really into right now, 365 00:17:27,520 --> 00:17:29,440 Speaker 2: No HDTV, none of it. 366 00:17:29,440 --> 00:17:32,320 Speaker 3: It's just me spending time with me. 367 00:17:32,640 --> 00:17:34,600 Speaker 1: Is that was it in your tree house when you 368 00:17:34,680 --> 00:17:36,920 Speaker 1: decided I think it's time. I think I'm ready to 369 00:17:36,960 --> 00:17:38,280 Speaker 1: be a real estate entrepreneur. 370 00:17:39,960 --> 00:17:42,240 Speaker 2: No, you know, the real estate piece is something I've 371 00:17:42,280 --> 00:17:46,000 Speaker 2: always wanted to do, always wanted to do, like always 372 00:17:46,040 --> 00:17:48,880 Speaker 2: been having conversations with people enrold of my friend Julian's 373 00:17:48,960 --> 00:17:52,600 Speaker 2: multimillion multi family mastermind, like always wanted to do. But 374 00:17:52,640 --> 00:17:54,119 Speaker 2: I think that was one of the things I counted 375 00:17:54,119 --> 00:17:56,960 Speaker 2: myself out of, especially when we bought our house here, 376 00:17:57,040 --> 00:17:58,959 Speaker 2: because we bought a single family home. I was like, well, 377 00:17:59,000 --> 00:18:01,600 Speaker 2: there goes my FHA three point five percent down. Now 378 00:18:01,600 --> 00:18:03,920 Speaker 2: I got to say twenty percent down on an investment property. 379 00:18:04,280 --> 00:18:06,880 Speaker 2: Let's just go ahead and do that and pay taxes 380 00:18:06,920 --> 00:18:09,000 Speaker 2: and all this other stuff and pay a team and 381 00:18:09,119 --> 00:18:13,159 Speaker 2: pay a nanny and all these other things. And I 382 00:18:13,240 --> 00:18:16,520 Speaker 2: counted myself out. And then my current mentor we were 383 00:18:16,600 --> 00:18:18,760 Speaker 2: having launch and we were talking about my million dollar years. 384 00:18:18,800 --> 00:18:20,760 Speaker 2: She was like, girl, you're gonna need some more write offs. 385 00:18:21,040 --> 00:18:21,840 Speaker 3: And I was like, I know. 386 00:18:22,080 --> 00:18:23,600 Speaker 2: She was like, you need a property, and I was 387 00:18:23,600 --> 00:18:25,080 Speaker 2: just like, I don't know if I could do it. 388 00:18:25,119 --> 00:18:28,720 Speaker 2: She was like, there's ways, there's ways, and loan bold 389 00:18:29,640 --> 00:18:31,880 Speaker 2: there are ways. They're ethical. We did a hard money 390 00:18:31,960 --> 00:18:34,840 Speaker 2: loan on our on our property. So we were doing 391 00:18:34,840 --> 00:18:41,520 Speaker 2: the Bird strategy, which is by renovate, rent, refinance. 392 00:18:40,440 --> 00:18:41,160 Speaker 3: And then repeat. 393 00:18:42,000 --> 00:18:43,919 Speaker 2: So we buy the house and need some work, you 394 00:18:44,000 --> 00:18:46,639 Speaker 2: renovate the house, you rent it out. Once you renovated it, 395 00:18:46,720 --> 00:18:49,640 Speaker 2: you go refinance to get the hard money loan off 396 00:18:49,680 --> 00:18:52,040 Speaker 2: of the property and put a standard conventional mortgage on 397 00:18:52,080 --> 00:18:54,200 Speaker 2: the property, and then you repeat the process. 398 00:18:54,600 --> 00:18:55,480 Speaker 3: And so that is. 399 00:18:56,960 --> 00:18:58,280 Speaker 1: Hard money loan. 400 00:18:59,080 --> 00:19:00,879 Speaker 3: Yeah, we get are we getting? 401 00:19:00,960 --> 00:19:03,680 Speaker 1: You're going to get into it? Because I love these details. Also, 402 00:19:03,840 --> 00:19:06,000 Speaker 1: I'm quite sure I have an idea of what it is, 403 00:19:06,080 --> 00:19:07,760 Speaker 1: and I think we used to write about this all 404 00:19:07,800 --> 00:19:09,840 Speaker 1: the time at Lending Trade. But go ahead. Hard money. 405 00:19:09,920 --> 00:19:12,760 Speaker 2: Yeah, and your hard money loan is it can come 406 00:19:12,800 --> 00:19:15,600 Speaker 2: from a private lender, which is an individual who just 407 00:19:15,640 --> 00:19:17,840 Speaker 2: has a lot of money, or it can come from 408 00:19:18,280 --> 00:19:20,800 Speaker 2: institutions that are set up to support real estate investors 409 00:19:20,840 --> 00:19:23,119 Speaker 2: because they're quite popular in the real estate community. The 410 00:19:23,280 --> 00:19:24,840 Speaker 2: hard money loan is going to come with a higher 411 00:19:24,840 --> 00:19:28,560 Speaker 2: interest rate, but often it's going to be they understand 412 00:19:28,600 --> 00:19:31,520 Speaker 2: that you are doing renovations. So we contracted our house 413 00:19:31,800 --> 00:19:34,480 Speaker 2: for two hundred and twenty three thousand dollars. We took 414 00:19:34,520 --> 00:19:36,400 Speaker 2: a hard money loan through two hundred and eighty five 415 00:19:36,400 --> 00:19:39,439 Speaker 2: thousand dollars, so they funded us sixty thousand, sixty two 416 00:19:39,480 --> 00:19:42,199 Speaker 2: thousand dollars to do the renovations. Our loan is for 417 00:19:42,240 --> 00:19:45,280 Speaker 2: two hundred and eighty five thousand. But once we renovate 418 00:19:45,320 --> 00:19:48,879 Speaker 2: the house, we've forced appreciation. So the house, the ARV, 419 00:19:49,080 --> 00:19:51,320 Speaker 2: the comps in the area are about four hundred. So 420 00:19:51,440 --> 00:19:53,320 Speaker 2: I'm really getting in real estate terms now. 421 00:19:53,359 --> 00:19:56,280 Speaker 1: So I'll know I need you to slow down and 422 00:19:56,280 --> 00:19:56,639 Speaker 1: go ahead. 423 00:19:57,119 --> 00:19:59,600 Speaker 2: The other homes that are selling in that neighborhood are 424 00:19:59,640 --> 00:20:02,720 Speaker 2: going for four hundred and fifteen four hundred and thirty 425 00:20:02,720 --> 00:20:05,680 Speaker 2: five thousand dollars. We paid two hundred and eighty five 426 00:20:05,720 --> 00:20:09,040 Speaker 2: thousand dollars that included our renovation costs. So now we 427 00:20:09,160 --> 00:20:13,720 Speaker 2: can refinance our home technically for like three hundred thousand 428 00:20:13,720 --> 00:20:16,040 Speaker 2: dollars to pay off that hard money loan that we 429 00:20:16,119 --> 00:20:19,840 Speaker 2: took from the lender. And then now we have even 430 00:20:19,920 --> 00:20:22,280 Speaker 2: though we have a mortgage for three hundred thousand dollars, 431 00:20:22,400 --> 00:20:25,160 Speaker 2: our homes were four hundred and fifteen thousand dollars. Our 432 00:20:25,200 --> 00:20:27,679 Speaker 2: hard money lender is going to They don't look at 433 00:20:27,680 --> 00:20:30,399 Speaker 2: your credit history, They don't look at your like your 434 00:20:30,480 --> 00:20:33,360 Speaker 2: debt to income ratio or anything like that. They look 435 00:20:33,400 --> 00:20:36,080 Speaker 2: at the strength of the asset of the property. So 436 00:20:36,200 --> 00:20:38,440 Speaker 2: because the property we bought it at such a low 437 00:20:38,520 --> 00:20:41,919 Speaker 2: price and once we finished renovating it, they know that 438 00:20:41,960 --> 00:20:44,200 Speaker 2: we can get a mortgage for that property because we're 439 00:20:44,240 --> 00:20:47,200 Speaker 2: actually going to be under mortgaging that property, and so 440 00:20:47,280 --> 00:20:49,520 Speaker 2: they lent to us. Now, you definitely want to make 441 00:20:49,560 --> 00:20:54,160 Speaker 2: sure if you're exploring hard money that you do your research. 442 00:20:54,240 --> 00:20:56,720 Speaker 3: Do you get reviews are hard money lender. 443 00:20:56,760 --> 00:20:58,800 Speaker 2: We were connected to them by my real estate mentor 444 00:20:58,800 --> 00:21:01,160 Speaker 2: who's done several deals with them before, so she knew 445 00:21:01,160 --> 00:21:02,000 Speaker 2: that they were ethical. 446 00:21:02,240 --> 00:21:04,320 Speaker 3: There weren't any like crazy points. 447 00:21:04,560 --> 00:21:08,920 Speaker 2: It wasn't some like back bar, you know, agreement where 448 00:21:09,000 --> 00:21:11,080 Speaker 2: we don't pay they're gonna break our legs or anything 449 00:21:11,160 --> 00:21:11,520 Speaker 2: like that. 450 00:21:11,680 --> 00:21:12,720 Speaker 3: It was they. 451 00:21:12,600 --> 00:21:15,800 Speaker 2: Were really an ethical company. They've been really they've been 452 00:21:15,800 --> 00:21:18,200 Speaker 2: a pleasure to work with. And you know, I could 453 00:21:18,240 --> 00:21:20,199 Speaker 2: do a whole podcast on the process that we've been 454 00:21:20,240 --> 00:21:22,840 Speaker 2: going through with it. And you know, you fund the 455 00:21:22,920 --> 00:21:26,480 Speaker 2: renovation costs and they they reimburse you. So are we 456 00:21:26,600 --> 00:21:29,840 Speaker 2: paid upfront for our contractor to get started. Once we 457 00:21:29,920 --> 00:21:32,280 Speaker 2: reached a certain point, we contacted the lender said hey, 458 00:21:32,320 --> 00:21:35,439 Speaker 2: we're at this point. They came out and looked, you're like, okay, 459 00:21:35,520 --> 00:21:37,720 Speaker 2: you did this work. They wired us money immediately that 460 00:21:37,800 --> 00:21:40,280 Speaker 2: day to pay the like to repay us for what 461 00:21:40,320 --> 00:21:41,280 Speaker 2: we paid the contractor. 462 00:21:41,880 --> 00:21:43,359 Speaker 3: So it's been a great process. 463 00:21:43,640 --> 00:21:46,280 Speaker 2: A lot of people use it and real estate, and 464 00:21:46,320 --> 00:21:48,440 Speaker 2: I think that what keeps a lot of people out 465 00:21:48,440 --> 00:21:50,119 Speaker 2: of real estate is the assumption that you have to 466 00:21:50,160 --> 00:21:52,760 Speaker 2: have your twenty percent down or how am I going 467 00:21:52,840 --> 00:21:54,000 Speaker 2: to renovate this property? 468 00:21:54,160 --> 00:21:55,919 Speaker 3: And everything, and that's why it's. 469 00:21:55,840 --> 00:21:59,639 Speaker 2: Important to like reach out to mentors, join communities because 470 00:22:00,080 --> 00:22:02,040 Speaker 2: there are ways. There are ways, and a lot of 471 00:22:02,040 --> 00:22:06,600 Speaker 2: people are using these ways to get into real estate 472 00:22:06,640 --> 00:22:08,159 Speaker 2: and to grow their real estate portfolio. 473 00:22:08,320 --> 00:22:09,280 Speaker 3: It's not people's money. 474 00:22:09,280 --> 00:22:12,200 Speaker 2: They're using other people's money, and it's essentially other people 475 00:22:12,200 --> 00:22:12,960 Speaker 2: on any strategy. 476 00:22:13,440 --> 00:22:15,600 Speaker 1: Yeah, and it's great to hear you talk about that too, 477 00:22:15,680 --> 00:22:18,439 Speaker 1: because I mean, we purchased a home in twenty eighteen. 478 00:22:18,480 --> 00:22:20,240 Speaker 1: At the time, my husband and I was very easy. 479 00:22:20,240 --> 00:22:23,600 Speaker 1: We're both w two workers at the time, and I 480 00:22:23,640 --> 00:22:25,959 Speaker 1: remember one of the biggest one of my biggest I mean, 481 00:22:26,000 --> 00:22:28,080 Speaker 1: it was it's all fine, but I look back at 482 00:22:28,080 --> 00:22:29,720 Speaker 1: it and I'm like, dang, I really put a lot 483 00:22:29,720 --> 00:22:32,240 Speaker 1: of like of I don't know, I put a lot 484 00:22:32,240 --> 00:22:34,800 Speaker 1: of pressure on myself to have that twenty percent because 485 00:22:35,200 --> 00:22:37,840 Speaker 1: I just wanted to show the bank or whatever like 486 00:22:38,000 --> 00:22:41,040 Speaker 1: we got it, like we we like saved up, you know, 487 00:22:41,200 --> 00:22:43,400 Speaker 1: we are very reliable, and I was proud to put 488 00:22:43,400 --> 00:22:45,840 Speaker 1: that twenty percent down. But in hindsight, I'm like, dang, 489 00:22:45,840 --> 00:22:47,439 Speaker 1: why did I put all my cash on the line? 490 00:22:47,520 --> 00:22:49,800 Speaker 1: And then we did like a renovation after and I'm like, dang, 491 00:22:49,840 --> 00:22:52,280 Speaker 1: we really could have used that money for the HVAC 492 00:22:52,400 --> 00:22:55,400 Speaker 1: or whatever. And I'm like, you know there are other options, 493 00:22:55,400 --> 00:22:57,800 Speaker 1: and you and I knew that intellectually, but I just 494 00:22:58,160 --> 00:23:01,880 Speaker 1: you know how money is emotional. I was emotionally invested 495 00:23:01,880 --> 00:23:04,400 Speaker 1: in the idea that I was going to do the 496 00:23:04,480 --> 00:23:07,560 Speaker 1: right thing. But there are all these tools there for 497 00:23:07,600 --> 00:23:11,040 Speaker 1: a reason, right low down payment options. You mentioned you 498 00:23:11,040 --> 00:23:13,200 Speaker 1: did an FHA three and a half. 499 00:23:14,160 --> 00:23:16,320 Speaker 2: Three point five percent down on our single family home. 500 00:23:16,400 --> 00:23:19,320 Speaker 2: And actually what I'm going to do is we're refinancing 501 00:23:19,359 --> 00:23:21,720 Speaker 2: my name off of the single family home property and 502 00:23:21,720 --> 00:23:23,399 Speaker 2: I'm going to use my FAHA to go get a 503 00:23:23,440 --> 00:23:27,879 Speaker 2: multi family property. And so I'll be getting probably a 504 00:23:27,920 --> 00:23:30,560 Speaker 2: triplex or a quadplex and using three point five percent 505 00:23:30,560 --> 00:23:34,080 Speaker 2: down instead of twenty percent down to secure that secure 506 00:23:34,119 --> 00:23:35,760 Speaker 2: that multi family property. 507 00:23:36,320 --> 00:23:39,080 Speaker 1: Now as a the other point is now I'm now 508 00:23:39,119 --> 00:23:41,840 Speaker 1: I am self employed, and I we would love to 509 00:23:41,840 --> 00:23:45,200 Speaker 1: buy another property, probably in Atlanta. And I don't want 510 00:23:45,200 --> 00:23:48,080 Speaker 1: to come down, Kyle. Well, you know that's my place, 511 00:23:48,119 --> 00:23:50,959 Speaker 1: that's my town. I'm coming down and police believe me 512 00:23:51,000 --> 00:23:53,320 Speaker 1: with it. When Stacey wins, I might I might need 513 00:23:53,359 --> 00:23:56,280 Speaker 1: to be there. I might need to be there once 514 00:23:56,280 --> 00:23:59,480 Speaker 1: the governorship. But anyway, I would love to buy a 515 00:23:59,480 --> 00:24:01,639 Speaker 1: property there, but I don't want to give up our 516 00:24:01,680 --> 00:24:04,560 Speaker 1: home here in New York. I don't know. I just 517 00:24:04,600 --> 00:24:06,360 Speaker 1: love it as our starter home. I want to rent 518 00:24:06,400 --> 00:24:10,000 Speaker 1: it out. And I am just at the beginning stages 519 00:24:10,040 --> 00:24:12,520 Speaker 1: of telling myself that it's possible, even though I feel 520 00:24:12,520 --> 00:24:14,639 Speaker 1: like the perception is that, oh, you're self employed and 521 00:24:14,760 --> 00:24:16,359 Speaker 1: not a W two, it's going to be so hard 522 00:24:16,400 --> 00:24:19,240 Speaker 1: for you to get approved for a loan. But you're 523 00:24:19,240 --> 00:24:22,560 Speaker 1: already dispelling that myth for me so absolutely. 524 00:24:22,800 --> 00:24:26,480 Speaker 2: And I yeah, because actually our single family home that 525 00:24:26,520 --> 00:24:30,400 Speaker 2: we have now, we me and my husband are self employed, 526 00:24:30,480 --> 00:24:33,399 Speaker 2: Like we bought it a self employed individuals. I've been 527 00:24:33,400 --> 00:24:36,600 Speaker 2: self employed since twenty fifteen. He's been self employed since 528 00:24:36,640 --> 00:24:39,760 Speaker 2: two thousand and like I think he was off and on, 529 00:24:39,880 --> 00:24:42,680 Speaker 2: but he was officially self employed in twenty sixteen. And yeah, 530 00:24:42,760 --> 00:24:44,679 Speaker 2: we did it, like you just have to have. And 531 00:24:44,800 --> 00:24:46,800 Speaker 2: the other thing is you don't have to finance it 532 00:24:46,840 --> 00:24:49,240 Speaker 2: in your name. You can finance it in your business name. 533 00:24:49,240 --> 00:24:51,199 Speaker 2: And when you finance it in your business name, you 534 00:24:51,200 --> 00:24:53,360 Speaker 2: can get what's called a no doc loan where it's 535 00:24:53,400 --> 00:24:55,120 Speaker 2: just like either they want you to have to twenty 536 00:24:55,119 --> 00:24:57,000 Speaker 2: percent down, or you go to a hard money lender 537 00:24:57,119 --> 00:24:59,640 Speaker 2: and you get something that needs some you know, renovations 538 00:24:59,680 --> 00:25:02,880 Speaker 2: and you don't have to provide aw two. 539 00:25:03,280 --> 00:25:06,040 Speaker 3: And that was what I wanted to do because buying. 540 00:25:05,760 --> 00:25:09,120 Speaker 2: A home as a self employed individual, they definitely ran 541 00:25:09,240 --> 00:25:13,159 Speaker 2: us like they ran us. They needed contracts, they needed 542 00:25:13,440 --> 00:25:16,040 Speaker 2: most bank statements on bank statements on bank statements, but 543 00:25:16,080 --> 00:25:18,959 Speaker 2: they needed contracts to show that we had other jobs 544 00:25:18,960 --> 00:25:21,880 Speaker 2: coming in even after we closed on our house, and 545 00:25:21,920 --> 00:25:22,119 Speaker 2: I was. 546 00:25:22,119 --> 00:25:23,399 Speaker 3: Just like, I don't want to go through that. I 547 00:25:23,400 --> 00:25:24,320 Speaker 3: wanted to be simple. 548 00:25:24,359 --> 00:25:27,120 Speaker 2: And when we did the hard money loan, literally asked 549 00:25:27,160 --> 00:25:30,000 Speaker 2: for our operating agreement bank statements to make sure that 550 00:25:30,000 --> 00:25:33,120 Speaker 2: we had money to get the renovation started and if 551 00:25:33,119 --> 00:25:34,879 Speaker 2: something was to fall through that we had money to 552 00:25:34,920 --> 00:25:40,040 Speaker 2: cover it. Our EI in information and they needed the 553 00:25:40,080 --> 00:25:42,800 Speaker 2: property like details about the property and comps in the area. 554 00:25:43,200 --> 00:25:46,239 Speaker 3: That was it. We had a two week like if 555 00:25:46,240 --> 00:25:47,000 Speaker 3: we closed in two. 556 00:25:46,960 --> 00:25:48,480 Speaker 1: Weeks, you're giving me. 557 00:25:50,240 --> 00:25:52,720 Speaker 2: So to think that all those years I thought that 558 00:25:52,840 --> 00:25:56,800 Speaker 2: I would be hindered by not being a traditional employee. 559 00:25:56,840 --> 00:26:00,919 Speaker 2: To find out that we closed quicker using like my 560 00:26:01,200 --> 00:26:05,679 Speaker 2: business changed. It changed the game for me. It changed it, 561 00:26:05,720 --> 00:26:08,240 Speaker 2: and it just shows me what's possible as well as 562 00:26:08,240 --> 00:26:09,879 Speaker 2: what people have been doing all this time. 563 00:26:09,960 --> 00:26:13,080 Speaker 1: Well, honestly, I think as Black Americans we are sold 564 00:26:13,119 --> 00:26:15,720 Speaker 1: a very different version of the American dream. One is 565 00:26:15,720 --> 00:26:19,040 Speaker 1: that one that is extremely convenient to the people at 566 00:26:19,040 --> 00:26:20,920 Speaker 1: the top and holds us back. 567 00:26:21,080 --> 00:26:24,000 Speaker 3: That's our that gets us and debt has us taken 568 00:26:24,040 --> 00:26:24,800 Speaker 3: our stud a loan. 569 00:26:24,960 --> 00:26:27,879 Speaker 1: Here's y'all's dream. Dream for a nine to five job, 570 00:26:28,359 --> 00:26:30,520 Speaker 1: dream for some bootstraps you can pull yourself. 571 00:26:30,560 --> 00:26:33,080 Speaker 3: You know, we create those nine dream to keep the light. 572 00:26:32,960 --> 00:26:35,879 Speaker 1: Bill paid, you know what I mean. Dream to be 573 00:26:35,920 --> 00:26:38,120 Speaker 1: able to put food on your family's tables and have 574 00:26:38,160 --> 00:26:42,440 Speaker 1: good American values and maybe real estate investing. No, now 575 00:26:42,480 --> 00:26:44,840 Speaker 1: that's for us, you know, like investing in general. 576 00:26:44,960 --> 00:26:45,560 Speaker 3: That's for you. 577 00:26:45,600 --> 00:26:46,840 Speaker 1: Don't want a four to one king. 578 00:26:46,840 --> 00:26:49,879 Speaker 3: Nay, passive income not just go ahead for it. 579 00:26:50,040 --> 00:26:52,679 Speaker 1: Active dream for a cash checking store in every block 580 00:26:52,760 --> 00:26:53,560 Speaker 1: and upon time, and. 581 00:26:53,600 --> 00:26:56,040 Speaker 3: Then off with social Security when when you're. 582 00:26:55,920 --> 00:26:58,640 Speaker 1: Dea and there you go, that's a good American life. 583 00:26:59,000 --> 00:27:06,840 Speaker 1: AD's a freaking loop. All right, we are back. You're 584 00:27:06,880 --> 00:27:09,440 Speaker 1: just reminding me of the importance of yes, like you said, 585 00:27:09,600 --> 00:27:12,560 Speaker 1: networking with one another and among your peers and being 586 00:27:12,600 --> 00:27:15,080 Speaker 1: inspired by one another. And I always kind of get 587 00:27:15,480 --> 00:27:18,760 Speaker 1: you know, especially when you know its influencers. You don't 588 00:27:18,760 --> 00:27:20,840 Speaker 1: want people to feel like, oh, this is the way 589 00:27:20,880 --> 00:27:22,960 Speaker 1: that I need to do things, and this is you know, 590 00:27:23,160 --> 00:27:25,080 Speaker 1: if I'm not an entrepreneur, I'm not self employed, I 591 00:27:25,080 --> 00:27:26,760 Speaker 1: don't have a house, and I'm not doing things right. 592 00:27:27,240 --> 00:27:29,960 Speaker 1: But it's not so much about the mindset. When you're 593 00:27:30,040 --> 00:27:33,080 Speaker 1: kind of like listening to stories like Tanya's or other 594 00:27:33,119 --> 00:27:36,240 Speaker 1: influencers out there, is not necessarily to look at that 595 00:27:36,280 --> 00:27:38,000 Speaker 1: and compare yourself, but to look at it and let 596 00:27:38,040 --> 00:27:40,600 Speaker 1: it just like level up the dream, you know, like 597 00:27:41,119 --> 00:27:43,560 Speaker 1: and for some people that can be terrifying, and their 598 00:27:43,600 --> 00:27:48,120 Speaker 1: immediate reaction is like to become defensive or like go inward. 599 00:27:48,560 --> 00:27:50,560 Speaker 1: Do you know what I mean, Because that's just so 600 00:27:50,760 --> 00:27:51,960 Speaker 1: shocking to think. 601 00:27:51,760 --> 00:27:54,639 Speaker 3: Like your time, take your time. 602 00:27:54,960 --> 00:27:59,159 Speaker 2: Like there are some people who realize their vision at 603 00:27:59,160 --> 00:28:00,160 Speaker 2: a very early age. 604 00:28:00,200 --> 00:28:00,880 Speaker 3: I remember I was. 605 00:28:00,840 --> 00:28:04,760 Speaker 2: Doing a panel with a guy who was like twenty 606 00:28:04,800 --> 00:28:08,960 Speaker 2: one and had already had seventeen units, and that's his 607 00:28:09,119 --> 00:28:11,280 Speaker 2: you know, that works for him. But for some people, 608 00:28:11,440 --> 00:28:14,359 Speaker 2: that's not your journey. And don't beat yourself up for 609 00:28:14,400 --> 00:28:16,719 Speaker 2: them and not become not being a part of your journey. 610 00:28:16,800 --> 00:28:18,920 Speaker 2: You know, sometimes I think about, like how far off 611 00:28:19,040 --> 00:28:22,200 Speaker 2: ahead would I be if I had started this at 612 00:28:22,200 --> 00:28:24,879 Speaker 2: an earlier age. But then I also think about, like 613 00:28:24,960 --> 00:28:27,440 Speaker 2: how much life I lived and how many things I enjoyed, 614 00:28:27,480 --> 00:28:29,720 Speaker 2: and how many places I lived because I wasn't tied 615 00:28:29,760 --> 00:28:30,760 Speaker 2: down to one city. 616 00:28:30,800 --> 00:28:31,600 Speaker 3: I lived in New. 617 00:28:31,520 --> 00:28:34,320 Speaker 2: York, I lived in la I lived in Miami. I've 618 00:28:34,320 --> 00:28:36,359 Speaker 2: lived places I want to live because I haven't been 619 00:28:36,400 --> 00:28:39,440 Speaker 2: tied down. And for me now, I don't have any 620 00:28:39,480 --> 00:28:43,080 Speaker 2: what fs. I don't live with what f's because I 621 00:28:43,120 --> 00:28:46,200 Speaker 2: gave myself time to just feel through it and then 622 00:28:46,400 --> 00:28:49,600 Speaker 2: it started to lay like a stronger foundation and put 623 00:28:49,600 --> 00:28:50,520 Speaker 2: my roots in the ground. 624 00:28:51,400 --> 00:28:54,479 Speaker 1: Yeah. I love that. So you have you mentioned your 625 00:28:54,520 --> 00:28:58,120 Speaker 1: husband who's also self employed. I would love to know 626 00:28:58,400 --> 00:29:01,880 Speaker 1: how you guys sort of tackle business decisions as a couple, 627 00:29:02,120 --> 00:29:03,880 Speaker 1: and are you guys in business together? Does he have 628 00:29:03,920 --> 00:29:04,360 Speaker 1: his own thing? 629 00:29:05,360 --> 00:29:08,120 Speaker 2: He has his own thing, but we like real estate 630 00:29:08,160 --> 00:29:10,440 Speaker 2: is something we've done together. We bought the company Club 631 00:29:10,480 --> 00:29:14,280 Speaker 2: Blufa together. And it's not always harmonious, you know, it's 632 00:29:14,320 --> 00:29:17,920 Speaker 2: not always harmonious, but it has highlight for me, like 633 00:29:18,080 --> 00:29:20,760 Speaker 2: the difference in my work style and also the areas 634 00:29:20,800 --> 00:29:23,240 Speaker 2: that I can improve upon because I'm very much like 635 00:29:23,240 --> 00:29:25,520 Speaker 2: it's in my head, go get it, like y'all should 636 00:29:25,560 --> 00:29:26,320 Speaker 2: know what I'm thinking. 637 00:29:26,800 --> 00:29:28,000 Speaker 3: And he's like, no, I. 638 00:29:28,040 --> 00:29:30,520 Speaker 2: Need you to create a spreadsheet and explain this and 639 00:29:30,560 --> 00:29:33,959 Speaker 2: break it down and like give us clearly defined roles 640 00:29:34,040 --> 00:29:34,800 Speaker 2: and everything else. 641 00:29:34,840 --> 00:29:37,320 Speaker 3: I'm like, oh, yeah, that would be helpful to people. 642 00:29:37,720 --> 00:29:39,600 Speaker 2: And so it really has to help me identify the 643 00:29:39,600 --> 00:29:43,080 Speaker 2: weaknesses in my work style. But you know, it also 644 00:29:43,200 --> 00:29:46,000 Speaker 2: is great that he is wonderful of what he does, 645 00:29:46,440 --> 00:29:48,959 Speaker 2: and it's also nice to have someone who understands what 646 00:29:49,000 --> 00:29:51,080 Speaker 2: it is to be an entrepreneur. I think that sometimes 647 00:29:51,080 --> 00:29:53,200 Speaker 2: it could be tricky when you have someone who is 648 00:29:53,240 --> 00:29:56,040 Speaker 2: not an entrepreneur. They don't necessarily understand everything that comes 649 00:29:56,080 --> 00:29:58,720 Speaker 2: with it because it's a lot. 650 00:29:59,240 --> 00:30:01,000 Speaker 3: It's a marathon, it really is. 651 00:30:01,080 --> 00:30:04,240 Speaker 2: And some days, you know, you can you can come 652 00:30:04,280 --> 00:30:07,880 Speaker 2: off your best year yet and then be sitting there. 653 00:30:07,880 --> 00:30:10,880 Speaker 3: You know, a week later, like so what next? Like 654 00:30:11,040 --> 00:30:11,600 Speaker 3: what next? 655 00:30:11,640 --> 00:30:13,160 Speaker 2: You know, and being a low because you're like, I 656 00:30:13,200 --> 00:30:16,920 Speaker 2: don't know what's next. I spent the entire year focused 657 00:30:16,960 --> 00:30:18,080 Speaker 2: on this, and now I. 658 00:30:18,160 --> 00:30:18,840 Speaker 3: Made it happen. 659 00:30:19,440 --> 00:30:21,840 Speaker 2: And now I feel guilty that I don't have a 660 00:30:21,880 --> 00:30:23,840 Speaker 2: plan for what's next because I've been so focused on 661 00:30:23,880 --> 00:30:25,840 Speaker 2: what it was. And it's important to have someone who 662 00:30:25,920 --> 00:30:29,040 Speaker 2: understands those thought processes because the wrong the other you know, 663 00:30:29,200 --> 00:30:32,680 Speaker 2: another partner would be like how ungrateful are you? 664 00:30:33,120 --> 00:30:34,880 Speaker 3: Or you know just kind of look at it and 665 00:30:34,880 --> 00:30:36,000 Speaker 3: as like how dare you? 666 00:30:36,080 --> 00:30:38,920 Speaker 2: But an entrepreneur will like, well understand, like no, I 667 00:30:38,960 --> 00:30:41,440 Speaker 2: get it, I get it, but just remind yourself give 668 00:30:41,480 --> 00:30:44,800 Speaker 2: yourself some graces, you know. So it's been really it's 669 00:30:44,840 --> 00:30:45,480 Speaker 2: been beautiful. 670 00:30:46,080 --> 00:30:48,200 Speaker 1: Well it's nice. Yeah, my husband and I we talk 671 00:30:48,280 --> 00:30:50,560 Speaker 1: about real estate, but we are just it terrifies me. 672 00:30:51,320 --> 00:30:53,840 Speaker 1: Not terrifies me, but I just know it's so much 673 00:30:53,880 --> 00:30:56,120 Speaker 1: harder when you're working with a partner, like when you 674 00:30:56,360 --> 00:30:58,040 Speaker 1: cause I come down to my zen den and it's 675 00:30:58,080 --> 00:31:00,360 Speaker 1: Mandy Money show, you know what I mean. I I 676 00:31:00,400 --> 00:31:02,240 Speaker 1: just got to know what I'm thinking, just like you've said, 677 00:31:02,800 --> 00:31:05,120 Speaker 1: and everyone reports to me, me being me, I'm the 678 00:31:05,240 --> 00:31:07,600 Speaker 1: one who reports to me, and every once in a 679 00:31:07,640 --> 00:31:10,040 Speaker 1: while house bas like. So it's really funny because this 680 00:31:10,080 --> 00:31:11,800 Speaker 1: is his version of like checking in on me. Will 681 00:31:11,800 --> 00:31:14,040 Speaker 1: be in the car going somewhere and he's like, so, like, 682 00:31:14,040 --> 00:31:18,240 Speaker 1: we're okay, right, bills are getting paid, right. I'm like, yeah, yeah, yeah, 683 00:31:18,280 --> 00:31:20,280 Speaker 1: we're good. Just keep driving, you know what I mean. 684 00:31:21,040 --> 00:31:23,720 Speaker 1: But real estate, yes, I mean that would definitely be 685 00:31:24,000 --> 00:31:27,760 Speaker 1: just buying this house was stressful enough, deciding on the location, 686 00:31:28,120 --> 00:31:32,800 Speaker 1: what kind of home you know, those those that's it's Yes, 687 00:31:32,880 --> 00:31:33,520 Speaker 1: it's got to be. 688 00:31:33,520 --> 00:31:36,960 Speaker 2: Challenging as a couple, I will say, then when it 689 00:31:36,960 --> 00:31:41,040 Speaker 2: comes to buying an investment property, it's a lot less emotional. 690 00:31:41,840 --> 00:31:44,440 Speaker 2: And so I think that's where it does differ from 691 00:31:44,920 --> 00:31:47,640 Speaker 2: a your primary residence. Your primary residence, You're gonna wake 692 00:31:47,720 --> 00:31:50,080 Speaker 2: up every day there, like you're thinking about where you're 693 00:31:50,120 --> 00:31:52,480 Speaker 2: gonna put the kids room, where your office is going 694 00:31:52,560 --> 00:31:52,760 Speaker 2: to be. 695 00:31:52,960 --> 00:31:54,760 Speaker 3: How am I going to feel waking up? How is 696 00:31:54,760 --> 00:31:57,000 Speaker 3: it going to be entertaining what a rental property? You're like, 697 00:31:57,000 --> 00:31:58,200 Speaker 3: do these numbers make sense? 698 00:31:58,680 --> 00:32:02,440 Speaker 2: Like, dude, numbers make since well it appreciated that area, 699 00:32:02,920 --> 00:32:05,600 Speaker 2: Like does it all make sense? And like if it 700 00:32:05,640 --> 00:32:07,400 Speaker 2: all makes sense, then the motions are out of it 701 00:32:07,400 --> 00:32:09,280 Speaker 2: and you're just kind of like, this is a practical decision, 702 00:32:09,400 --> 00:32:11,280 Speaker 2: what needs to be done. You tackle it as a 703 00:32:11,280 --> 00:32:14,400 Speaker 2: project versus a passion. So I think that it is 704 00:32:14,520 --> 00:32:17,000 Speaker 2: easier working with a partner when it comes to it, 705 00:32:17,080 --> 00:32:20,560 Speaker 2: because it's just about like what makes financial sense, and 706 00:32:20,640 --> 00:32:22,240 Speaker 2: let's make it make financial sense. 707 00:32:23,080 --> 00:32:25,880 Speaker 1: So what are some of the early lessons you've learned 708 00:32:26,360 --> 00:32:29,040 Speaker 1: having now been a real estate entrepreneur for I don't 709 00:32:29,080 --> 00:32:32,600 Speaker 1: know how many months now, And you just said that 710 00:32:32,640 --> 00:32:34,520 Speaker 1: you were at the property today, so you're in the 711 00:32:34,560 --> 00:32:38,520 Speaker 1: midst of Renolds. Any Yeah, any little nuggets, any surprise 712 00:32:38,640 --> 00:32:39,240 Speaker 1: that started? 713 00:32:39,560 --> 00:32:42,680 Speaker 2: We started Renolds a week of Christmas, and they were 714 00:32:42,720 --> 00:32:44,720 Speaker 2: like literally working the day after Christmas on the property 715 00:32:44,760 --> 00:32:46,920 Speaker 2: and they're going to be done this week. So it's 716 00:32:46,960 --> 00:32:50,920 Speaker 2: been a relatively quick renovation considering we knocked down some walls, 717 00:32:51,000 --> 00:32:56,240 Speaker 2: we renovated three bathrooms, we renovated the kitchen, and we 718 00:32:56,360 --> 00:32:59,200 Speaker 2: created a short term unit downstairs. So we brought a 719 00:32:59,240 --> 00:33:02,160 Speaker 2: split level home and or the top unit is a 720 00:33:02,200 --> 00:33:04,360 Speaker 2: three to two, the bottom is a two to one. 721 00:33:04,440 --> 00:33:07,880 Speaker 2: I would be used as an Airbnb or housing for 722 00:33:08,080 --> 00:33:12,800 Speaker 2: traveling nurses. So what I have learned is your contractor. 723 00:33:13,320 --> 00:33:17,120 Speaker 2: Like everyone says like your contractor is essential, but your 724 00:33:17,120 --> 00:33:18,880 Speaker 2: contractor really is important to be able to have a 725 00:33:18,880 --> 00:33:21,520 Speaker 2: contractor that you can communicate with and keeps those lines 726 00:33:21,560 --> 00:33:25,440 Speaker 2: of communication as open as important staying on top of it. 727 00:33:25,920 --> 00:33:30,560 Speaker 2: I don't know if I would have doing this property. 728 00:33:30,560 --> 00:33:32,880 Speaker 2: Before I did this property, I was open to investing 729 00:33:32,960 --> 00:33:37,280 Speaker 2: out of state. Now doing this property, I need my 730 00:33:38,760 --> 00:33:41,520 Speaker 2: control issues that I have. I need to invest in 731 00:33:41,560 --> 00:33:43,280 Speaker 2: the same state I live in. I need to be 732 00:33:43,360 --> 00:33:45,800 Speaker 2: in driving distance. Ideally I need to be twenty five 733 00:33:45,840 --> 00:33:49,160 Speaker 2: minutes from my house. Because even today I went to 734 00:33:49,200 --> 00:33:51,760 Speaker 2: the house and they had the vanity that I had 735 00:33:51,760 --> 00:33:55,120 Speaker 2: purchased for downstairs at Airbnb units. So it's like this 736 00:33:55,200 --> 00:33:57,520 Speaker 2: funky blue they had that up about to put it 737 00:33:57,560 --> 00:33:59,840 Speaker 2: in upstairs, and I'm like, no, this goes downstairs. Up 738 00:34:00,360 --> 00:34:02,880 Speaker 2: is going to be a traditional family home. Downstairs gonna 739 00:34:02,880 --> 00:34:04,800 Speaker 2: be a funky Airbnb. We do not need a blue 740 00:34:04,880 --> 00:34:07,800 Speaker 2: vanity up here, a white bandity, you know. 741 00:34:07,840 --> 00:34:09,080 Speaker 3: But just little things like that. 742 00:34:09,120 --> 00:34:10,799 Speaker 2: If I wasn't able to walk in and see what 743 00:34:10,840 --> 00:34:13,560 Speaker 2: they were doing, flooring, the flooring I wanted. 744 00:34:13,400 --> 00:34:16,279 Speaker 3: Was out of out of stock. She asked me if 745 00:34:16,280 --> 00:34:19,160 Speaker 3: I would be okay with a lighter flow color. I didn't. No, 746 00:34:19,200 --> 00:34:20,279 Speaker 3: lighter meant blonde. 747 00:34:20,480 --> 00:34:22,480 Speaker 2: So now I walk in and I thought I was 748 00:34:22,520 --> 00:34:24,920 Speaker 2: gonna have light wood, And now I have blonde floors, 749 00:34:25,120 --> 00:34:28,719 Speaker 2: and I'm like, hold the countertops, hold the cabinet paint, Like, 750 00:34:28,880 --> 00:34:31,360 Speaker 2: we got to figure out what matches these blonde floors. 751 00:34:31,719 --> 00:34:34,720 Speaker 2: So I would say, like I do recommend for someone 752 00:34:34,760 --> 00:34:37,080 Speaker 2: to invest in their backyard. That's what I've learned, is 753 00:34:37,120 --> 00:34:40,239 Speaker 2: that for me, it's important because I'm very particular. So 754 00:34:40,600 --> 00:34:44,279 Speaker 2: like to understand what your control, your management style is. 755 00:34:44,320 --> 00:34:45,680 Speaker 2: Are you going to be particular or are you just 756 00:34:45,680 --> 00:34:47,439 Speaker 2: going to let things go. If you're not the let 757 00:34:47,440 --> 00:34:49,640 Speaker 2: things go type of person, invest in your backyard or 758 00:34:49,640 --> 00:34:51,920 Speaker 2: in your city or in your state. If you're kind 759 00:34:51,920 --> 00:34:54,640 Speaker 2: of like it would just work out whatever, then okay, 760 00:34:55,280 --> 00:34:57,799 Speaker 2: out of state works for you. So yeah, the contractor 761 00:34:58,120 --> 00:35:01,839 Speaker 2: determining where and how you want to invest. And then three, like, 762 00:35:01,880 --> 00:35:04,880 Speaker 2: really make sure you have a solid mentor or solid 763 00:35:04,960 --> 00:35:06,920 Speaker 2: friends that you can reach out to that do and 764 00:35:07,040 --> 00:35:10,479 Speaker 2: understand real estate. When we have quite a few friends 765 00:35:10,520 --> 00:35:12,200 Speaker 2: who are involved in real estate, and then I have 766 00:35:12,239 --> 00:35:14,839 Speaker 2: a real estate mentor. So even when we got our 767 00:35:14,880 --> 00:35:16,400 Speaker 2: first contracts. 768 00:35:16,000 --> 00:35:18,120 Speaker 3: Even when we were looking at the numbers and wanted 769 00:35:18,160 --> 00:35:20,120 Speaker 3: to make sure the numbers made sense, we ran to 770 00:35:20,120 --> 00:35:20,760 Speaker 3: buy our friends. 771 00:35:20,800 --> 00:35:23,160 Speaker 2: We ran a buy our mentor. When we were looking 772 00:35:23,239 --> 00:35:26,920 Speaker 2: at the budget from our general contractor and pricing things out. 773 00:35:27,040 --> 00:35:28,960 Speaker 2: We knew what to take out and give to another 774 00:35:29,040 --> 00:35:32,680 Speaker 2: contract or, a subcontractor, instead of having our general contractor 775 00:35:32,680 --> 00:35:34,440 Speaker 2: do it because we could get a better price on it. 776 00:35:34,640 --> 00:35:39,120 Speaker 2: Our general contractor was going to charge us like ten 777 00:35:39,160 --> 00:35:41,319 Speaker 2: thousand dollars to do our roof. We found someone else 778 00:35:41,360 --> 00:35:43,560 Speaker 2: who did our room for five thousand dollars and someone 779 00:35:43,600 --> 00:35:45,319 Speaker 2: told us like, hey, that's a lot of money. She 780 00:35:45,440 --> 00:35:47,399 Speaker 2: was going to charge us eleven thousand dollars to paint 781 00:35:47,400 --> 00:35:49,520 Speaker 2: the exterior. Someone was like, that's a lot of money. 782 00:35:49,640 --> 00:35:52,120 Speaker 2: Found someone to do our exterior paint for fifty seven 783 00:35:52,080 --> 00:35:55,640 Speaker 2: to fifty So if we didn't have someone to run 784 00:35:55,680 --> 00:35:59,040 Speaker 2: those numbers by, we would have been significantly over budget. 785 00:35:59,200 --> 00:36:01,880 Speaker 2: But having so it was really important to have like 786 00:36:02,040 --> 00:36:04,600 Speaker 2: those those relationships, those people that we could reach out 787 00:36:04,640 --> 00:36:05,880 Speaker 2: to that ca can you just look over with this 788 00:36:05,920 --> 00:36:08,440 Speaker 2: budget for us really quick and let us know and 789 00:36:08,520 --> 00:36:12,320 Speaker 2: even then there's still gonna be stuff. We're still over budget, 790 00:36:12,640 --> 00:36:13,680 Speaker 2: Like we're. 791 00:36:13,560 --> 00:36:17,160 Speaker 1: Just about to see how's that budget? Twenty thousand were 792 00:36:17,440 --> 00:36:21,680 Speaker 1: money when we were doing our we were doing our renovation, 793 00:36:21,800 --> 00:36:24,880 Speaker 1: our contractor, like anytime we wanted to. We got the 794 00:36:24,920 --> 00:36:27,840 Speaker 1: counter somewhere else. He was like so offended every time. 795 00:36:28,239 --> 00:36:30,880 Speaker 1: And I feel like getting someone with the right attitude 796 00:36:30,920 --> 00:36:32,799 Speaker 1: of like knowing that you're on a budget and that 797 00:36:32,840 --> 00:36:36,120 Speaker 1: you may go outside of them for certain yeah, you know, 798 00:36:36,120 --> 00:36:37,000 Speaker 1: because every time. 799 00:36:36,800 --> 00:36:40,520 Speaker 3: It was too but girls, okay, this is not your money. 800 00:36:40,520 --> 00:36:40,839 Speaker 3: We had. 801 00:36:40,960 --> 00:36:43,799 Speaker 2: Oh I've never worked like this before. Really, I don't 802 00:36:43,840 --> 00:36:46,680 Speaker 2: believe that. I'm sure everybody else is financially conscious. It's 803 00:36:46,680 --> 00:36:47,640 Speaker 2: financially mindful. 804 00:36:48,160 --> 00:36:51,880 Speaker 3: I don't believe that. So they're gonna feel how they feel. 805 00:36:53,480 --> 00:36:54,360 Speaker 3: It's not your money. 806 00:36:54,800 --> 00:36:55,120 Speaker 1: I'm glad. 807 00:36:55,120 --> 00:36:58,000 Speaker 2: I mean to like pay you, you know, so they will. 808 00:37:00,160 --> 00:37:02,680 Speaker 2: And yeah, we're over budget, but I can say that 809 00:37:02,760 --> 00:37:05,360 Speaker 2: with a smile on my face because we had the 810 00:37:05,400 --> 00:37:06,560 Speaker 2: money going into it. 811 00:37:06,600 --> 00:37:09,320 Speaker 3: We had the money in the account to do certain things. 812 00:37:09,600 --> 00:37:12,960 Speaker 2: And the over budget is actually coming from converting the 813 00:37:13,040 --> 00:37:16,239 Speaker 2: short term unit downstairs. If we were not creating a 814 00:37:16,320 --> 00:37:18,759 Speaker 2: whole separate unit, we would not be over budget. But 815 00:37:18,760 --> 00:37:21,279 Speaker 2: because we had to install an HVAC system downstairs, which 816 00:37:21,320 --> 00:37:23,640 Speaker 2: we didn't including the budget, we didn't think about it like, oh, 817 00:37:23,960 --> 00:37:27,400 Speaker 2: downstairs can't have the same HVAC as upstairs. So like 818 00:37:27,480 --> 00:37:31,160 Speaker 2: we didn't include an HVAC unit in that. There were 819 00:37:31,440 --> 00:37:35,160 Speaker 2: some other things that we thought that like windows. I 820 00:37:35,239 --> 00:37:37,080 Speaker 2: just didn't realize how much it bothered me that we 821 00:37:37,120 --> 00:37:40,719 Speaker 2: had old wooden windows in our in the house. So 822 00:37:40,760 --> 00:37:43,960 Speaker 2: I'm doing complete window replacement for vinyl windows because they 823 00:37:43,960 --> 00:37:46,520 Speaker 2: previously had wood windows which had you know, all the 824 00:37:46,600 --> 00:37:48,799 Speaker 2: layers of paint over them. Can't even open the window 825 00:37:48,840 --> 00:37:50,640 Speaker 2: because it's been painted on so many times. It's like 826 00:37:50,880 --> 00:37:53,040 Speaker 2: people can't live in Atlanta and not open the windows. 827 00:37:53,160 --> 00:37:56,520 Speaker 2: They just they can't. So replacing windows. So some of 828 00:37:56,560 --> 00:37:58,480 Speaker 2: the things were my like we weren't going to tear 829 00:37:58,480 --> 00:38:01,440 Speaker 2: the cabinets out in our kitchen. Once I got in 830 00:38:01,480 --> 00:38:04,120 Speaker 2: there saw the water damage, I was like, no, these 831 00:38:04,160 --> 00:38:06,879 Speaker 2: cabinets got to go. We can't establish these cabinets, tore 832 00:38:06,920 --> 00:38:09,560 Speaker 2: the cabinets out, or replacing a cabinet. So it's things 833 00:38:09,600 --> 00:38:11,560 Speaker 2: like that that sent us over budget. But we know 834 00:38:11,640 --> 00:38:14,080 Speaker 2: that the airbnb downstairs on a low month is going 835 00:38:14,120 --> 00:38:16,920 Speaker 2: to bring in additional nine hundred dollars on top of 836 00:38:16,920 --> 00:38:19,239 Speaker 2: what the top unit brings in which the top unit 837 00:38:19,280 --> 00:38:22,000 Speaker 2: covers a mortgage, So an additional nine hundred dollars to 838 00:38:22,000 --> 00:38:25,359 Speaker 2: an additional twenty five hundred dollars a month. I'm okay 839 00:38:25,440 --> 00:38:28,200 Speaker 2: with being twenty five hundred dollars over because that is 840 00:38:28,239 --> 00:38:30,799 Speaker 2: going to be replaid by the end of this year. 841 00:38:31,200 --> 00:38:32,520 Speaker 3: So drink. 842 00:38:33,320 --> 00:38:35,800 Speaker 1: My little brother is building a house outside of not 843 00:38:35,880 --> 00:38:39,439 Speaker 1: out in Atlanta, East Atlanta, and he is so yeah, 844 00:38:39,480 --> 00:38:40,920 Speaker 1: he's so smart. I don't know if y'all should like 845 00:38:40,920 --> 00:38:44,120 Speaker 1: be friends on I love East Atlanta. Yeah, he and 846 00:38:44,160 --> 00:38:46,160 Speaker 1: he got the Atlanta of my dreams. Like you know, 847 00:38:46,200 --> 00:38:49,080 Speaker 1: because I was twenty ten graduating college two thousand and nine, 848 00:38:49,120 --> 00:38:50,520 Speaker 1: I was like, gone, get me out of here Atlanta 849 00:38:50,520 --> 00:38:52,080 Speaker 1: and was not as hot as it is now. But 850 00:38:52,200 --> 00:38:54,400 Speaker 1: now I'm like, damn to be young and black in Atlanta. 851 00:38:54,800 --> 00:38:57,840 Speaker 1: Just live in the dream. But anyway, so he yes, 852 00:38:57,880 --> 00:39:00,560 Speaker 1: and he's building a house and he's building a whole 853 00:39:00,840 --> 00:39:03,480 Speaker 1: guesthouse in the back just for Airbnb, and I'm like 854 00:39:03,520 --> 00:39:05,480 Speaker 1: the potential. I'm so proud of them. 855 00:39:05,560 --> 00:39:08,560 Speaker 3: So the treehouse I stayed at here. That's what they did. 856 00:39:08,680 --> 00:39:11,240 Speaker 2: They built a treehouse and it was in East Atlanta 857 00:39:11,520 --> 00:39:14,480 Speaker 2: and they built a treehouse and it was It's breathtaking. 858 00:39:14,560 --> 00:39:17,640 Speaker 3: They have a bandy, they have emos running around. 859 00:39:17,719 --> 00:39:20,000 Speaker 2: It's called it Email brands have emos running around this 860 00:39:20,080 --> 00:39:24,359 Speaker 2: treehouse like in East Atlanta. It's it's remarkable what they've done. 861 00:39:24,440 --> 00:39:27,160 Speaker 2: The potential is endless. Like the next house I get. 862 00:39:27,719 --> 00:39:31,320 Speaker 2: I do not want to be in a hoa community 863 00:39:31,400 --> 00:39:34,160 Speaker 2: because if I want to build a treehouse in my 864 00:39:34,200 --> 00:39:36,239 Speaker 2: backyard that I run out on Airbnb, I don't want 865 00:39:36,239 --> 00:39:38,400 Speaker 2: you to tell me that it's against the community high ordinance. 866 00:39:38,920 --> 00:39:40,880 Speaker 3: So your brother's doing it right. 867 00:39:41,840 --> 00:39:45,799 Speaker 1: Well, tell me really quickly about the search for the house, 868 00:39:45,800 --> 00:39:47,680 Speaker 1: because I know Atlanta and this is not for anyone 869 00:39:47,719 --> 00:39:50,280 Speaker 1: listening in other cities, any big city. It just feels 870 00:39:50,320 --> 00:39:53,120 Speaker 1: like post pandemic that the real estate market was crazy. 871 00:39:53,640 --> 00:39:55,760 Speaker 1: My dad was trying to buy a house outside of Atlanta. 872 00:39:55,800 --> 00:39:58,000 Speaker 1: It took him six months to get something he could afford. 873 00:39:58,080 --> 00:40:00,719 Speaker 1: So what was that process like, And any tips for 874 00:40:00,760 --> 00:40:03,520 Speaker 1: folks who are like researching real estate properties right now 875 00:40:03,600 --> 00:40:06,359 Speaker 1: and feel like they are like never going to find 876 00:40:06,360 --> 00:40:08,560 Speaker 1: that sweet spot As far as price. 877 00:40:08,680 --> 00:40:12,120 Speaker 2: Yeah, well yeah it was. It was definitely a seller's 878 00:40:12,120 --> 00:40:14,160 Speaker 2: market when we bought. But that's the power of having 879 00:40:14,200 --> 00:40:16,319 Speaker 2: a mentor. My mentor gave me a strategy. She was like, 880 00:40:16,719 --> 00:40:18,759 Speaker 2: we bought the house off the MLS we didn't go 881 00:40:18,800 --> 00:40:21,600 Speaker 2: to a wholesaler. It wasn't we weren't driving around looking 882 00:40:21,600 --> 00:40:24,000 Speaker 2: for numbers. But the strategy is there are going to 883 00:40:24,040 --> 00:40:27,600 Speaker 2: be houses that are beautiful on Zilo, and like everybody 884 00:40:27,600 --> 00:40:29,759 Speaker 2: wants that house. Look for the ugly house on Zillo 885 00:40:30,080 --> 00:40:32,200 Speaker 2: that's been listed for that's been on there for like 886 00:40:32,239 --> 00:40:33,120 Speaker 2: a couple of weeks. 887 00:40:33,400 --> 00:40:35,120 Speaker 3: Because nobody check out for the ugly house. 888 00:40:35,160 --> 00:40:37,160 Speaker 2: They not even like our house had like five saves, 889 00:40:37,200 --> 00:40:38,920 Speaker 2: but it had been on it had been there for 890 00:40:38,960 --> 00:40:39,920 Speaker 2: like three weeks, only. 891 00:40:39,760 --> 00:40:40,680 Speaker 3: Had five saves. 892 00:40:40,880 --> 00:40:44,399 Speaker 2: So the seller was getting desperate and they were kind 893 00:40:44,440 --> 00:40:46,720 Speaker 2: of like, well nobody was really checking for the house. 894 00:40:47,200 --> 00:40:49,720 Speaker 2: And we got a diamond, Like we got a diamond 895 00:40:49,719 --> 00:40:52,160 Speaker 2: in the rough. And then once we went into our 896 00:40:52,200 --> 00:40:54,560 Speaker 2: strategy was really looked for the ugly house on Zillo 897 00:40:55,080 --> 00:40:56,920 Speaker 2: and look for the house that has potential for us 898 00:40:56,960 --> 00:41:00,319 Speaker 2: to be able to expand and forced appreciation because something 899 00:41:00,360 --> 00:41:02,360 Speaker 2: to think about it when we think about forced appreciation, 900 00:41:02,480 --> 00:41:06,719 Speaker 2: forced appreciation means you are able to do renovations that 901 00:41:06,760 --> 00:41:08,799 Speaker 2: take the home value up so that it gives you 902 00:41:08,840 --> 00:41:12,200 Speaker 2: almost instant equity. And so by us turning the bottom 903 00:41:12,239 --> 00:41:14,320 Speaker 2: level and renovating the house and then turning the bottom 904 00:41:14,400 --> 00:41:17,440 Speaker 2: level into an airbnb or short term rental. Now we've 905 00:41:17,480 --> 00:41:20,560 Speaker 2: added additional like additional value to that home. 906 00:41:20,600 --> 00:41:21,759 Speaker 3: So we forced appreciation. 907 00:41:22,040 --> 00:41:23,719 Speaker 2: So when you find these ugly homes, that's why you 908 00:41:23,760 --> 00:41:26,360 Speaker 2: used to see those we buy ugly houses signs, because 909 00:41:26,400 --> 00:41:28,920 Speaker 2: the ugly house is undervalued, and once you make the 910 00:41:29,000 --> 00:41:32,320 Speaker 2: house more beautiful, you increase the value of that house. 911 00:41:32,840 --> 00:41:34,080 Speaker 3: So that was our strategy. 912 00:41:34,120 --> 00:41:35,919 Speaker 2: Look for the ugly house on Zillo and the house 913 00:41:35,960 --> 00:41:37,399 Speaker 2: has been listed for three weeks or more. 914 00:41:38,520 --> 00:41:40,640 Speaker 1: We found an ugly house too. It was the only 915 00:41:40,640 --> 00:41:43,840 Speaker 1: one we could afford. It made it very easy, made. 916 00:41:43,640 --> 00:41:44,440 Speaker 3: It very easy. 917 00:41:44,560 --> 00:41:46,359 Speaker 2: And I mean and now, like that's the thing when 918 00:41:46,960 --> 00:41:50,000 Speaker 2: like when Kamari is looking Kamori is my husband's name, 919 00:41:50,040 --> 00:41:52,960 Speaker 2: So Whenkamari is looking at Zillow or looking at stuff 920 00:41:53,040 --> 00:41:54,719 Speaker 2: or we get listings or whatever, I'm like, how long 921 00:41:54,800 --> 00:41:56,480 Speaker 2: has it been on the market? First question? I asked, 922 00:41:56,520 --> 00:41:57,960 Speaker 2: if it's been on the market for the like the 923 00:41:58,000 --> 00:41:59,879 Speaker 2: first week. I'm not gonna call them. 924 00:42:00,000 --> 00:42:01,600 Speaker 1: I don't want to smell a little stale, you know, 925 00:42:01,600 --> 00:42:02,880 Speaker 1: I don't wanna smell a little stale. 926 00:42:03,160 --> 00:42:06,920 Speaker 2: I want something a little like They're like, this house 927 00:42:06,960 --> 00:42:08,680 Speaker 2: has been listed for three weeks and we are just 928 00:42:08,760 --> 00:42:11,840 Speaker 2: looking for a buyer, anyone, please, Like that's who I want. 929 00:42:12,040 --> 00:42:14,760 Speaker 3: I don't want the girl that everybody's asking out. 930 00:42:14,960 --> 00:42:16,920 Speaker 1: I want to sound that scammy, but you're not scamming. 931 00:42:17,960 --> 00:42:19,240 Speaker 3: Scammy, not scammy. 932 00:42:19,320 --> 00:42:21,400 Speaker 2: And we we we our house like we bought it 933 00:42:21,440 --> 00:42:24,360 Speaker 2: from a older woman who her husband had passed away. 934 00:42:24,719 --> 00:42:26,480 Speaker 2: She had heard the house from her aunt and she 935 00:42:26,600 --> 00:42:29,680 Speaker 2: just couldn't take care of it anymore. And we bought 936 00:42:29,680 --> 00:42:32,239 Speaker 2: it from her, and like she walked away with a 937 00:42:32,320 --> 00:42:35,640 Speaker 2: check from it, and we walked away with our first property. 938 00:42:35,680 --> 00:42:38,000 Speaker 2: That I'm in love that, Like how you have an 939 00:42:38,040 --> 00:42:40,960 Speaker 2: affinity for your first home, like I have an affinity 940 00:42:40,960 --> 00:42:44,480 Speaker 2: for my first investment property, Like that's truly my first baby, 941 00:42:44,680 --> 00:42:49,799 Speaker 2: because I feel like I created something beautiful out of 942 00:42:50,800 --> 00:42:54,080 Speaker 2: something that was a little you know, she want that cute. 943 00:42:54,719 --> 00:42:56,520 Speaker 1: You got the bug. I can already feel it. You 944 00:42:56,560 --> 00:42:59,080 Speaker 1: got now you see like the makeover, the real estate 945 00:42:59,120 --> 00:42:59,799 Speaker 1: makeover bug. 946 00:43:00,360 --> 00:43:03,000 Speaker 2: I'm I'm blown away every time I walk in, Like 947 00:43:03,080 --> 00:43:05,360 Speaker 2: even today I was there, I was like, oh my gosh, 948 00:43:05,480 --> 00:43:07,960 Speaker 2: this had ugly wood paneling all around, and now it's 949 00:43:08,080 --> 00:43:11,319 Speaker 2: light and bright and vibrant and has modern trim and 950 00:43:11,520 --> 00:43:14,000 Speaker 2: a charcoal fireplace like it's the bomb. 951 00:43:14,320 --> 00:43:16,400 Speaker 1: I can't wait to see the Airbnb photos too. I 952 00:43:16,400 --> 00:43:18,680 Speaker 1: know you're gonna get a good photog when do you So? 953 00:43:18,719 --> 00:43:20,480 Speaker 1: How quickly are you looking to flip it? 954 00:43:21,040 --> 00:43:21,920 Speaker 3: So we are we. 955 00:43:21,920 --> 00:43:23,919 Speaker 2: Are gonna flip. We're doing buy a hold. So I'm 956 00:43:23,960 --> 00:43:26,239 Speaker 2: doing buying a hold strategy. So there are two strategies. 957 00:43:26,280 --> 00:43:29,600 Speaker 2: There's flipping where you get in forced appreciation reselling somebod 958 00:43:29,600 --> 00:43:32,000 Speaker 2: ad buys it, and then there's buying and holding. 959 00:43:32,000 --> 00:43:33,480 Speaker 3: And that's my strategy. 960 00:43:33,000 --> 00:43:36,160 Speaker 2: Because I want to build a real estate portfolio because 961 00:43:36,200 --> 00:43:40,160 Speaker 2: I really want that passive income to cover my bills. 962 00:43:40,160 --> 00:43:41,239 Speaker 3: One of the things that my fra. 963 00:43:43,000 --> 00:43:45,359 Speaker 1: Huh you said, Sorry to interrupt you. I just wanted 964 00:43:45,400 --> 00:43:46,919 Speaker 1: to go back. That's right. You said you were doing 965 00:43:46,920 --> 00:43:49,160 Speaker 1: burr brur so burr. 966 00:43:49,360 --> 00:43:52,040 Speaker 2: So for me, burr is I repeat the process. But 967 00:43:52,080 --> 00:43:54,120 Speaker 2: it also means that I'm going to hold the property 968 00:43:54,200 --> 00:43:57,839 Speaker 2: in my Portfoka. And so my friend Kindred, I remember 969 00:43:57,880 --> 00:44:00,120 Speaker 2: I was having a conversation with her and some I 970 00:44:00,200 --> 00:44:02,560 Speaker 2: was trying to buy her company. Then we were just 971 00:44:02,600 --> 00:44:04,600 Speaker 2: talking and she was like, you know, I'm not taking 972 00:44:04,680 --> 00:44:06,759 Speaker 2: just anything like my properties paying my. 973 00:44:06,719 --> 00:44:08,960 Speaker 3: Bills like this is I don't, I'm not. And I 974 00:44:09,080 --> 00:44:11,800 Speaker 3: was just like, ooh, what a flex. 975 00:44:13,120 --> 00:44:16,080 Speaker 2: Pay my bills like, And so that's that's what I'm 976 00:44:16,080 --> 00:44:18,920 Speaker 2: working on, is like having enough passive income through real 977 00:44:19,040 --> 00:44:20,880 Speaker 2: estate to cover my monthly overhead. 978 00:44:22,320 --> 00:44:23,920 Speaker 3: I'm just buying what I can buy. That's why the 979 00:44:23,960 --> 00:44:25,719 Speaker 3: next one is going to be a multifamily. 980 00:44:26,120 --> 00:44:29,160 Speaker 1: All right, the multifamily that's the one. And you said 981 00:44:29,160 --> 00:44:30,799 Speaker 1: you took a course on that or your friend has 982 00:44:30,880 --> 00:44:34,480 Speaker 1: like a multifamily buyer's course something like that. 983 00:44:34,600 --> 00:44:38,040 Speaker 2: Yeah, Julian, So they call him mister Multifamily, Julian Gordon, 984 00:44:38,480 --> 00:44:43,040 Speaker 2: multifamily mastermind, multifamily movement. Think his website is the Freedom School. 985 00:44:43,280 --> 00:44:45,959 Speaker 2: He has so many different aliases, but so if. 986 00:44:45,840 --> 00:44:47,600 Speaker 3: You look any of those up, you'll find Julian. 987 00:44:48,360 --> 00:44:52,319 Speaker 2: But Julian, his whole thing is like turning like he 988 00:44:52,360 --> 00:44:54,920 Speaker 2: has single moms in there, he has single women, he 989 00:44:54,960 --> 00:44:57,160 Speaker 2: has husband and wives, he has single men in there. 990 00:44:57,480 --> 00:44:59,239 Speaker 2: And his whole goal is to help a thousand people 991 00:44:59,320 --> 00:45:01,919 Speaker 2: purchase a multi family property to help them leverage for 992 00:45:02,440 --> 00:45:04,719 Speaker 2: a larger real estate portfolio. So I think right now 993 00:45:04,719 --> 00:45:08,960 Speaker 2: he's up to like two hundred and seventy four closings 994 00:45:09,680 --> 00:45:13,680 Speaker 2: in his community, but two hundred and seventy four black 995 00:45:13,680 --> 00:45:17,080 Speaker 2: people have purchased multi family properties in his program so far, 996 00:45:17,560 --> 00:45:18,760 Speaker 2: which is powerful. 997 00:45:21,120 --> 00:45:23,120 Speaker 1: That is powerful, And even as I'm sitting here, I'm like, oh, 998 00:45:23,160 --> 00:45:26,680 Speaker 1: multi family now, that's next level. That's like landlord of 999 00:45:26,760 --> 00:45:29,600 Speaker 1: multiple tenants. Like sounds like a headache. But then I'm 1000 00:45:29,640 --> 00:45:31,799 Speaker 1: just going back. I'm like, who taught me to talk 1001 00:45:31,840 --> 00:45:35,279 Speaker 1: myself out of being a quadruplex? I didn't know that 1002 00:45:35,320 --> 00:45:37,120 Speaker 1: was even a word in the English dictionary, but now 1003 00:45:37,120 --> 00:45:37,279 Speaker 1: I know. 1004 00:45:37,760 --> 00:45:41,960 Speaker 2: Quplex is not it is, but you know, you screen 1005 00:45:42,040 --> 00:45:44,320 Speaker 2: your tenants, You screen your tenants, you get good people 1006 00:45:44,360 --> 00:45:47,640 Speaker 2: in there. And it's the original house hack. I'm my 1007 00:45:47,680 --> 00:45:50,439 Speaker 2: friend Kindred. That's how they they have a property in DC. 1008 00:45:50,600 --> 00:45:52,480 Speaker 2: They had a multi family they had and they had 1009 00:45:52,480 --> 00:45:54,759 Speaker 2: their tenants paying the mortgage and they were able to 1010 00:45:54,800 --> 00:45:57,400 Speaker 2: save their money and leverage that to go buy more properties. 1011 00:45:57,800 --> 00:46:01,400 Speaker 2: And so it and you can use FAH loan to 1012 00:46:01,520 --> 00:46:04,319 Speaker 2: do it. The FAHA will give you up to you 1013 00:46:04,320 --> 00:46:06,799 Speaker 2: can buy the four units with three point five percent down. 1014 00:46:07,080 --> 00:46:08,360 Speaker 2: So if you think about it, if you try to 1015 00:46:08,360 --> 00:46:10,840 Speaker 2: put twenty percent down on something that costs six hundred 1016 00:46:10,840 --> 00:46:13,839 Speaker 2: thousand dollars versus three point five percent down on something 1017 00:46:13,880 --> 00:46:16,120 Speaker 2: that costs six hundred thousand dollars. We're looking at the 1018 00:46:16,120 --> 00:46:18,759 Speaker 2: difference between like twenty five thousand and one hundred and 1019 00:46:18,840 --> 00:46:22,920 Speaker 2: twenty thousand dollars down, significant difference to think that you 1020 00:46:23,000 --> 00:46:26,919 Speaker 2: can get into an income generating asset that is four 1021 00:46:27,080 --> 00:46:30,440 Speaker 2: units for less than twenty five thousand dollars. 1022 00:46:31,000 --> 00:46:34,640 Speaker 3: Like why, Like when I found out, I was. 1023 00:46:34,600 --> 00:46:39,319 Speaker 2: Like, what, K, poor, K, what do you mean that 1024 00:46:39,400 --> 00:46:40,120 Speaker 2: I could do that? 1025 00:46:40,239 --> 00:46:42,680 Speaker 3: Like it's really a powerful tool. 1026 00:46:43,200 --> 00:46:46,160 Speaker 2: And I advise anybody who's open to it, like, please 1027 00:46:46,160 --> 00:46:48,400 Speaker 2: don't talk yourself out of it, because I wish I 1028 00:46:48,440 --> 00:46:50,279 Speaker 2: would have done that in New York. Like I wish 1029 00:46:50,320 --> 00:46:51,920 Speaker 2: when I was living in New York, I knew that 1030 00:46:52,000 --> 00:46:53,600 Speaker 2: I could buy a multi family and only have to 1031 00:46:53,600 --> 00:46:57,200 Speaker 2: put three point five percent down, I probably would have 1032 00:46:57,200 --> 00:46:58,200 Speaker 2: been a landlord a lot sooner. 1033 00:46:58,239 --> 00:47:00,239 Speaker 1: But also even three point five percent of a proper 1034 00:47:00,280 --> 00:47:02,279 Speaker 1: to New York, that's very different than three I mean, 1035 00:47:02,400 --> 00:47:04,400 Speaker 1: it's very different. 1036 00:47:04,840 --> 00:47:10,200 Speaker 2: It is you moved to Knarsie. There's still places where 1037 00:47:12,200 --> 00:47:15,319 Speaker 2: you know, there's still some areas in New York. I 1038 00:47:15,320 --> 00:47:17,319 Speaker 2: think East New York is now starting to come around, 1039 00:47:17,360 --> 00:47:22,080 Speaker 2: but there's still some areas in New York where you know, 1040 00:47:22,640 --> 00:47:25,719 Speaker 2: it is not as expensive, like living in Bedstock or 1041 00:47:25,880 --> 00:47:26,560 Speaker 2: like established. 1042 00:47:26,719 --> 00:47:28,799 Speaker 1: We're just saying, stay in Atlanta. No, no, no, Tony, 1043 00:47:28,840 --> 00:47:29,760 Speaker 1: you got to stay in Atlanta. 1044 00:47:30,560 --> 00:47:32,879 Speaker 3: You're not coming. I'm not coming. 1045 00:47:33,000 --> 00:47:34,760 Speaker 2: You can't pay me to go back to New York. 1046 00:47:35,480 --> 00:47:37,560 Speaker 2: You I'm southern, I am. 1047 00:47:40,320 --> 00:47:43,000 Speaker 3: No. Okay, I'm looking at that snowstorm. 1048 00:47:43,400 --> 00:47:46,240 Speaker 2: I was like, no, I'm already going to the grocery 1049 00:47:46,280 --> 00:47:48,799 Speaker 2: store in a firm when it's twenty seven degrees here, 1050 00:47:48,840 --> 00:47:49,160 Speaker 2: I will. 1051 00:47:49,200 --> 00:47:51,000 Speaker 3: I can't. I'm not built for it anymore. 1052 00:47:51,040 --> 00:47:53,680 Speaker 1: Man, I know how quickly they turn. That's okay, Well, 1053 00:47:53,719 --> 00:47:56,000 Speaker 1: take care of Atlanta for me, take care of Atlanta, 1054 00:47:56,040 --> 00:48:00,000 Speaker 1: take care of my city. Say hi hopefully, well, hopefully 1055 00:48:00,040 --> 00:48:03,279 Speaker 1: I'll see you soon again in Atlanta. Yes, I will 1056 00:48:03,360 --> 00:48:04,799 Speaker 1: definitely be down visiting very soon. 1057 00:48:05,400 --> 00:48:08,680 Speaker 3: Yeah, I think so much for your brother's Airbnb. I'm 1058 00:48:08,680 --> 00:48:10,359 Speaker 3: excited for him. I'm excited for you. 1059 00:48:10,680 --> 00:48:12,319 Speaker 1: I feel like y'all should Yeah. I feel like y'all 1060 00:48:12,320 --> 00:48:15,120 Speaker 1: shoul link up because he's he's he's on mogul, he's 1061 00:48:15,120 --> 00:48:17,160 Speaker 1: on that quiet he's not as loud as I am. 1062 00:48:17,239 --> 00:48:19,719 Speaker 1: About my about my goals, but he's always like quietly 1063 00:48:19,920 --> 00:48:22,239 Speaker 1: becoming a mogul in the background. I'm very proud of him. 1064 00:48:23,400 --> 00:48:25,240 Speaker 1: But can I just say thank you again for joining 1065 00:48:25,239 --> 00:48:28,520 Speaker 1: Brown Ambition. Finally, oh my, finally, It's. 1066 00:48:28,320 --> 00:48:30,480 Speaker 2: Been such a thrill that I hope people got value 1067 00:48:30,480 --> 00:48:32,560 Speaker 2: out of this because we're just friends having a conversation. 1068 00:48:33,000 --> 00:48:35,120 Speaker 1: So I think our value out of this, I know 1069 00:48:35,200 --> 00:48:37,879 Speaker 1: I did. That's what I care about. No, I feel 1070 00:48:37,920 --> 00:48:40,239 Speaker 1: like for anyone the messages, you know, and this is 1071 00:48:40,360 --> 00:48:42,359 Speaker 1: especially it was good for me too, because I do 1072 00:48:42,400 --> 00:48:44,080 Speaker 1: feel like real estate. Like I said, it's something that 1073 00:48:44,080 --> 00:48:46,080 Speaker 1: I started to kind of just put on the back 1074 00:48:46,120 --> 00:48:49,719 Speaker 1: burner as a possibility. But thanks for giving me some 1075 00:48:49,920 --> 00:48:51,839 Speaker 1: room to dream a little bit about it. And even 1076 00:48:51,880 --> 00:48:53,960 Speaker 1: if I don't buy a property this year, which I 1077 00:48:54,000 --> 00:48:57,879 Speaker 1: definitely probably won't, you know, a couple of years, I'll 1078 00:48:57,880 --> 00:49:00,200 Speaker 1: think about this conversation and maybe even I'll take some 1079 00:49:00,200 --> 00:49:03,600 Speaker 1: steps today like anyone listening, to start researching what the 1080 00:49:03,600 --> 00:49:06,160 Speaker 1: potential is, what options are out there. It's not like 1081 00:49:06,200 --> 00:49:06,799 Speaker 1: you have to. 1082 00:49:07,640 --> 00:49:09,359 Speaker 3: Yeah, yeah, don't count yourself out. 1083 00:49:09,480 --> 00:49:12,480 Speaker 2: I just remember I had that I had a housing 1084 00:49:13,080 --> 00:49:15,279 Speaker 2: event in New York City. A couple of years ago 1085 00:49:15,320 --> 00:49:17,319 Speaker 2: before I left and you came to the event. I 1086 00:49:17,360 --> 00:49:20,400 Speaker 2: remember that, like you left the event and found and 1087 00:49:20,440 --> 00:49:22,680 Speaker 2: like you were counting yourself on then and left the 1088 00:49:22,719 --> 00:49:27,440 Speaker 2: event and found out that you were actually like financially 1089 00:49:27,520 --> 00:49:30,920 Speaker 2: ready to buy a house, like when you left that, like, oh, 1090 00:49:30,920 --> 00:49:33,200 Speaker 2: I'm actually in a place where like we could buy. 1091 00:49:33,400 --> 00:49:34,920 Speaker 3: You know, it's a matter of you coming around and 1092 00:49:34,960 --> 00:49:35,719 Speaker 3: being ready to buy. 1093 00:49:35,880 --> 00:49:37,600 Speaker 1: It was mentally preparing myself. 1094 00:49:37,760 --> 00:49:42,880 Speaker 3: Yes, don't count yourself out. Yes, yeah, of creating more 1095 00:49:42,920 --> 00:49:43,719 Speaker 3: passive income for. 1096 00:49:43,680 --> 00:49:47,400 Speaker 1: Yourself, whatever it is. I mean, whether it is passive 1097 00:49:47,400 --> 00:49:50,160 Speaker 1: income from real estate. I mean, as you've shown passive 1098 00:49:50,160 --> 00:49:54,720 Speaker 1: income from leveraging your your brand to book half million 1099 00:49:54,800 --> 00:49:57,600 Speaker 1: dollar brand partnerships. I mean, can we talk about goals? 1100 00:49:58,160 --> 00:50:00,480 Speaker 1: Like so proud of you and you're also that you 1101 00:50:00,480 --> 00:50:03,200 Speaker 1: can be all these different things at different times in 1102 00:50:03,200 --> 00:50:04,880 Speaker 1: your life. You don't have to just choose one and 1103 00:50:04,920 --> 00:50:08,040 Speaker 1: stay in your lane. You can be so like many things. 1104 00:50:10,280 --> 00:50:13,160 Speaker 1: I wish we could keep talking forever, But thank you again, Tonia. 1105 00:50:13,160 --> 00:50:15,239 Speaker 1: Any what do you want to promote? What do you 1106 00:50:15,239 --> 00:50:16,680 Speaker 1: want to shout out? Where can people find you? 1107 00:50:17,360 --> 00:50:17,520 Speaker 3: Oh? 1108 00:50:17,600 --> 00:50:19,440 Speaker 2: So people can find me, you know outside of I 1109 00:50:19,440 --> 00:50:22,319 Speaker 2: don't do real estate. I'm a financial educator and one 1110 00:50:22,320 --> 00:50:24,120 Speaker 2: of the things that's important for me is helping people 1111 00:50:24,239 --> 00:50:27,160 Speaker 2: understand like where they are in their financial journey, understanding 1112 00:50:27,200 --> 00:50:29,600 Speaker 2: their money persona and how they've related to money up 1113 00:50:29,640 --> 00:50:32,400 Speaker 2: unto this point. Because hesitancy plays a role in our 1114 00:50:32,400 --> 00:50:36,279 Speaker 2: financial journey, risk risk tendency or risk tolerance plays a 1115 00:50:36,360 --> 00:50:38,920 Speaker 2: role in our financial journey. And so we developed this 1116 00:50:39,040 --> 00:50:43,000 Speaker 2: quiz called your Money Persona. It's your Moneypersona dot com 1117 00:50:43,200 --> 00:50:44,799 Speaker 2: and you can go to find out where you are 1118 00:50:44,800 --> 00:50:47,600 Speaker 2: in your financial journey. So I highly recommend people just 1119 00:50:47,680 --> 00:50:50,000 Speaker 2: kind of take their temperature and see where they are 1120 00:50:50,040 --> 00:50:51,759 Speaker 2: and see where the areas for improvement are. 1121 00:50:51,800 --> 00:50:53,840 Speaker 3: We give you tips to improve. 1122 00:50:53,520 --> 00:50:55,560 Speaker 2: Where you are and set goals to help you get 1123 00:50:55,560 --> 00:50:57,960 Speaker 2: to the next level based on what your servering response is. 1124 00:50:58,080 --> 00:51:01,120 Speaker 2: So your money Persona dot com it will also have 1125 00:51:01,200 --> 00:51:03,840 Speaker 2: ways for you to connect with me at my fab finance. 1126 00:51:04,360 --> 00:51:06,640 Speaker 2: And when you go to my fab finance, my personal 1127 00:51:06,680 --> 00:51:09,839 Speaker 2: Instagram is actually in the handle, and so you want 1128 00:51:09,880 --> 00:51:11,879 Speaker 2: to find like I don't talk about real estate much 1129 00:51:12,080 --> 00:51:13,640 Speaker 2: on my fab finance, even though I'm about to do 1130 00:51:13,680 --> 00:51:16,480 Speaker 2: a real on it. But if you're interested in the 1131 00:51:16,560 --> 00:51:18,960 Speaker 2: person behind the brand my fab Finance. You can find 1132 00:51:18,960 --> 00:51:20,240 Speaker 2: me at Tanya dot raply. 1133 00:51:21,080 --> 00:51:24,120 Speaker 1: I'm always interested in what Tanya's up to, what she's wearing. 1134 00:51:24,360 --> 00:51:26,200 Speaker 1: How cute her son is. What's your son's name again, 1135 00:51:26,719 --> 00:51:30,000 Speaker 1: Kars Caros? Okay, well that's just like your husband's name, 1136 00:51:30,040 --> 00:51:35,680 Speaker 1: Kavaris Kamar girl, Sorry. 1137 00:51:34,680 --> 00:51:38,200 Speaker 2: Okay, his name is Kamari, And yeah, my son's name 1138 00:51:38,239 --> 00:51:41,440 Speaker 2: is cars and so that's my joy. No matter what 1139 00:51:41,520 --> 00:51:45,560 Speaker 2: I accomplish, like, he is my greatest accomplishment up until 1140 00:51:45,560 --> 00:51:48,120 Speaker 2: this point. He's such an amazing little human. 1141 00:51:48,840 --> 00:51:51,480 Speaker 1: Everything I do with this business is just like the 1142 00:51:51,520 --> 00:51:55,080 Speaker 1: time freedom to spend time and to bring joy to 1143 00:51:55,160 --> 00:51:56,680 Speaker 1: that time I get to spend with him. I'm like, 1144 00:51:56,760 --> 00:52:00,759 Speaker 1: this is everything, So thanks for being an example of that. 1145 00:52:00,800 --> 00:52:03,239 Speaker 1: All right, everybody, check out your money Persona dot com. 1146 00:52:03,280 --> 00:52:05,359 Speaker 1: I love mea quiz, so I might go right there 1147 00:52:05,400 --> 00:52:08,400 Speaker 1: and take my quiz right now. Your Moneypersona dot com. 1148 00:52:08,440 --> 00:52:13,160 Speaker 1: Follow Tanya on Instagram at myfab finance and find her 1149 00:52:13,239 --> 00:52:17,839 Speaker 1: anywhere at Tanya Rapili also on social media. Thanks Pal, 1150 00:52:18,520 --> 00:52:21,440 Speaker 1: thanks for coming on the show. Phil in Tiffany's seat 1151 00:52:21,760 --> 00:52:24,399 Speaker 1: while she's out, so take care and for the rest 1152 00:52:24,440 --> 00:52:25,719 Speaker 1: of you, I'll ba fan, you know where to find 1153 00:52:25,800 --> 00:52:28,719 Speaker 1: us Branhambisson podcast dot com, hit us up on ig 1154 00:52:29,040 --> 00:52:32,040 Speaker 1: Brown Ambition Podcast, and we'll see y'all next week