WEBVTT - EYL #38 Corner Class feat. Jay Morrison

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<v Speaker 1>All right, guys, welcome back, e y L.

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<v Speaker 2>Atlanta edition very very special, very special for us for

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<v Speaker 2>a couple of different reasons. We're gonna get into it.

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<v Speaker 2>Before we start, we got some exciting news.

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<v Speaker 1>You know.

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<v Speaker 2>We've been traveling around the country. We do our network

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<v Speaker 2>meeting greets, just going to our biggest markets.

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<v Speaker 1>And we went.

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<v Speaker 2>We started in La and we went That was crazy.

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<v Speaker 2>La was the first one. Then we went to Brooklyn.

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<v Speaker 2>Brooklyn was crazy. There were so many people it was

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<v Speaker 2>actually dispilled down into the streets.

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<v Speaker 3>It's still talking about it.

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<v Speaker 2>Yeah, shout out to VK for shure us a fact.

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<v Speaker 2>And then we went to Atlanta. We was in Atlanta,

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<v Speaker 2>we had four hundred and fifty people come out. And

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<v Speaker 2>then Houston was the biggest one so far. So Chicago.

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<v Speaker 2>By the time you hear this, it's going to be

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<v Speaker 2>two days. But yeah, two days September twenty six, we'll

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<v Speaker 2>coming to Chicago. So it's free network meet and greet.

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<v Speaker 2>The purpose of the network meeting greet is not a seminar,

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<v Speaker 2>it's not a workshop. It is for you to network

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<v Speaker 2>with each other. Most importantly, you gonna meet us. We're

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<v Speaker 2>gonna bring some of our guests, but you never know

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<v Speaker 2>who might be your business partner, who might be you know,

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<v Speaker 2>somebody that you can do real estate with. And these

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<v Speaker 2>are the things that we need to do more of.

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<v Speaker 2>Is is networking and really building. So we mix it

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<v Speaker 2>with with with a whole different type of vibe because

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<v Speaker 2>you know, we're not traditional business podcast, so it's like

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<v Speaker 2>a party but productive tendency to.

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<v Speaker 3>People show up with shirts and times and they look

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<v Speaker 3>at us like T shirt.

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<v Speaker 2>Yeah we're coming, We're coming a T shirt. You know,

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<v Speaker 2>by the end of night, you're gonna have a couple

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<v Speaker 2>of drinks and you're gonna have some good food and

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<v Speaker 2>it's gonna be who vib So, yeah, Chicago. This is

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<v Speaker 2>my first time going to Chicago, so I'm looking forward

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<v Speaker 2>to it. So make sure y'all check us out, man

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<v Speaker 2>for sure, for sure. And then we have our workshop

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<v Speaker 2>that we are launching as well. So as you know, Eyo,

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<v Speaker 2>every single week we bring a different professional win and

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<v Speaker 2>they give us free gyms and free game and we

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<v Speaker 2>really appreciate that. So we wanted to build an extended

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<v Speaker 2>platform off of that, so we launching our Workshop series

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<v Speaker 2>and that's going to be live in New York City.

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<v Speaker 2>Once a month, and we also want to live streaming

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<v Speaker 2>as well for anybody anywhere in the world. So the

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<v Speaker 2>first one is going to be for first time real

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<v Speaker 2>estate investors. We're gonna go with some hard money loan tactics,

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<v Speaker 2>things of that nature with our guy MG, the mortgage guy.

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<v Speaker 2>So yes, make sure that y'all register for that. That's

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<v Speaker 2>only events table on website as well.

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<v Speaker 1>We're looking forward to this.

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<v Speaker 3>So people always asking when we're coming back to New York,

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<v Speaker 3>New York, this is for you.

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<v Speaker 2>And we never left to create Thank you when you're

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<v Speaker 2>coming back to New York. We never left New York.

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<v Speaker 2>We live in New York. But this is this is

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<v Speaker 2>for New York for sure, but it's for not just

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<v Speaker 2>New York. It's for the whole world.

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<v Speaker 1>So make sure everybody.

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<v Speaker 2>So all right, we got that out the way, So

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<v Speaker 2>we have to welcome our esteemed guests. Mister J Morrison,

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<v Speaker 2>thank you for for you. Yeah, so I gotta get

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<v Speaker 2>a backstory on this, so you know, we have we

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<v Speaker 2>try to bring people from all walks of life and

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<v Speaker 2>all industries and you know, the number one person that

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<v Speaker 2>everybody has been requesting for months.

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<v Speaker 4>Now is yeah, but they get aggressive they're like, if

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<v Speaker 4>you're really serious, get t like reach out to So

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<v Speaker 4>it's like, all right, man, y'all can stop asking.

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<v Speaker 1>We got them.

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<v Speaker 2>So if you don't know legendary real estate investor, social

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<v Speaker 2>activists as well, yeah, thank you for all of the

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<v Speaker 2>work that you're doing that and for your advocacy. But yeah,

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<v Speaker 2>just really dynamic guy. He's wrote books, he's he's done lectures,

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<v Speaker 2>he's real estate developer. He's actually the CEO of the

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<v Speaker 2>Tulsa Real Estate Fund, which is the first black real

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<v Speaker 2>estate crowdfunding equity crowdfunding fund?

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<v Speaker 5>Is that correct in history?

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<v Speaker 1>In history? So yeah, we're gonna were gonna go over

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<v Speaker 1>all of that.

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<v Speaker 2>But you know, he has a very extensive, very impressive resume,

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<v Speaker 2>and anybody in the financial literacy circle, especially in our community,

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<v Speaker 2>you know that he's been a leader four years before

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<v Speaker 2>a lot of us was involved in social media. I'm

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<v Speaker 2>a financial advis I just got in social media a

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<v Speaker 2>couple of years ago, but I saw you before I

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<v Speaker 2>got involved. So he's definitely been a trailblazer, somebody that

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<v Speaker 2>we we've all acknowledged as a leader and then trailblazer.

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<v Speaker 2>So first and foremost, thank you, Thank you for rocking

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<v Speaker 2>with us, Thank you for joining.

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<v Speaker 5>Us pleasures, thank you for having me appreciate it.

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<v Speaker 2>Yeah, for sure, so were gonna jump right into it.

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<v Speaker 2>So when I first heard about you, it was years ago,

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<v Speaker 2>and you was a realtor, right, and I guess like

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<v Speaker 2>a celebrity reltor because I saw you on TV. So

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<v Speaker 2>we all know your story about you. Know, you was

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<v Speaker 2>in the streets and you got incarcerated. What made you

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<v Speaker 2>get into being a realtor first and foremost? And from

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<v Speaker 2>there how did you transition to actually being an investor?

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<v Speaker 5>Well, actually I started as an investor first before a realtor, right.

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<v Speaker 5>So when I left the streets in two thousand and five,

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<v Speaker 5>I left South tenth in Springfield. I ave in Nork,

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<v Speaker 5>New Jersey after a ten year dope boy career. When

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<v Speaker 5>I left the streets, one of the first things I

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<v Speaker 5>did is I want to acquire a single family home

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<v Speaker 5>from a tax lane and foreclosure situation. My mom had

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<v Speaker 5>helped her out of that situation, and we I had

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<v Speaker 5>built my credit over the years because I learned about

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<v Speaker 5>building credit and mortgages while I was on parole at

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<v Speaker 5>twenty two years old in Plainfield, New Jersey. And so

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<v Speaker 5>by the time I was twenty five years old, and

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<v Speaker 5>I was ready to retire the dope game and do

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<v Speaker 5>something different and productive with my life and stop and

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<v Speaker 5>beat the trap. So I had already purchased a home

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<v Speaker 5>under my name for my mom because my credit was

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<v Speaker 5>better than hers. She was facing the foreclosure. And then

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<v Speaker 5>I went and got my own duplex, my own two

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<v Speaker 5>family with four acres in land one hundred percent financing.

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<v Speaker 5>And at that time, and so, as I purchased that property,

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<v Speaker 5>and I saw the commissions that the realtor made. The

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<v Speaker 5>realtor made thirteen thousand. He showed me the property twice,

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<v Speaker 5>I'm like, bro, that thirteen rescued in mind. I can

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<v Speaker 5>do what he did. You know what I'm saying.

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<v Speaker 6>I knew at that time I planned on buying more properties.

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<v Speaker 5>So I'm like, I'm gonna be on this path as

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<v Speaker 5>an investor in landlord, buying more properties than I need

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<v Speaker 5>to be in a position to get my get that

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<v Speaker 5>other check too. And so I went and got my

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<v Speaker 5>real estate license at that time. And then as I'm

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<v Speaker 5>going to buy more properties, I also got my mortgage

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<v Speaker 5>license at that time. So I was a loan officer.

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<v Speaker 5>I was a realtor, and I was an investor, landlord,

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<v Speaker 5>and developer breaking into the game. That's where I started

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<v Speaker 5>the brand mister real Estate back then in like two

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<v Speaker 5>thousand and five, two thousand and six.

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<v Speaker 7>And so you went from one medium to the next, right,

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<v Speaker 7>and what what triggered you said to say, like this

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<v Speaker 7>is the way I'm going to go, Like I'm going

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<v Speaker 7>into real estate.

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<v Speaker 5>I mean, for me, it was a couple of things. One,

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<v Speaker 5>you know, when I was in the streets my you know,

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<v Speaker 5>I started selling drugs at fifteen years old. My whole

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<v Speaker 5>family sold drugs, you know. I mean, my grandfather's so dope,

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<v Speaker 5>my uncle so adope, my mom's so dope. Like that

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<v Speaker 5>was just our family trade. And that was a norm

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<v Speaker 5>for me. And when I was hustling through my teens,

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<v Speaker 5>and I got locked up at eighteen years old in

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<v Speaker 5>New York on riverside driving Harlem, facing three years of

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<v Speaker 5>life in prison for a quarter key, little coke and

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<v Speaker 5>a loaded handgun. Did a one to three in New York,

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<v Speaker 5>went upstate cutting down trees for thirteen cents a day,

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<v Speaker 5>came home on work release in Harlem, a Lincoln work

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<v Speaker 5>release by Central Park. Went right back to the game

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<v Speaker 5>like a month later, like I like, I'll get myself

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<v Speaker 5>two months off some coming home, give myself two months

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<v Speaker 5>of freedom, and then I'm all right. Listen, just listen.

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<v Speaker 5>I came home November third and nineteen ninety nine. I

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<v Speaker 5>got backtrapping January nineteenth of two thousand. I remember the date, wow,

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<v Speaker 5>and got right back at it and tore it up.

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<v Speaker 5>But then I caught another charge less than a year later,

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<v Speaker 5>a drug trafficking charge in Maryland in a secret indictment

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<v Speaker 5>in New Jersey. Ended up beating part of that because

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<v Speaker 5>the cops illegally searched my vehicle. Still did prison time

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<v Speaker 5>about eighteen months between Maryland and New Jersey. Came home

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<v Speaker 5>from that on intense supervision parole where I had to

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<v Speaker 5>have this men's group meeting where I learned about mortgages. Okay, still,

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<v Speaker 5>after I learned about that, I went back to trapping

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<v Speaker 5>for a few more years. Old, had to stop hard,

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<v Speaker 5>get rich, you don't trying, and so through all that,

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<v Speaker 5>my family would be like, hey, Jay, you know my

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<v Speaker 5>you know, my my daughter was born while I was

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<v Speaker 5>in prison. My daughter's twenty years old. Now she goes

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<v Speaker 5>one of the top twenty colleges in the country. She's

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<v Speaker 5>the first black woman president of her sorority. Like she's phenomenal.

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<v Speaker 5>But she was born while I was in prison, and

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<v Speaker 5>my first time seeing her was on a visiting room floor. Wow,

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<v Speaker 5>my daughter slept with me in trap houses like bagging up,

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<v Speaker 5>you know. And now she's on to where she's at.

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<v Speaker 5>But her mother used to say, you know, why can't

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<v Speaker 5>you stop selling drugs? And it would literally my family

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<v Speaker 5>would cry to try to get me to stop. And

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<v Speaker 5>I said, well, when y'all showed me something where I

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<v Speaker 5>can make the money i'm making now right, live the.

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<v Speaker 6>Lifestyle that I want to live and feed my family.

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<v Speaker 5>If y'all showed me that hustle, I'm in until then,

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<v Speaker 5>shut the fuck up, right, And so don't tell me

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<v Speaker 5>to stop doing something. You're not giving me another way

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<v Speaker 5>or another route. I'm not getting a job like that's out,

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<v Speaker 5>like it's not even happening, so you know what I mean.

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<v Speaker 5>So anyway, real estate, as I saw the checks that

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<v Speaker 5>were being made. So when I closed that first two family,

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<v Speaker 5>I saw the owner of that he owned it for

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<v Speaker 5>maybe like seven or eight or nine years, but he

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<v Speaker 5>made a hundred racks. I'm like, wait, he just owned

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<v Speaker 5>this shit for a few years, got some rental income

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<v Speaker 5>and cashed out a hunting on me, Like I bought

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<v Speaker 5>it from him the realtor mad thirteen, He made a hundred,

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<v Speaker 5>But I'm the one that went here and financed it.

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<v Speaker 5>And I was like, you know what, this is all right?

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<v Speaker 5>And then when I bought my mom out of that foreclosure,

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<v Speaker 5>I helped my mom buy this house FHA financing in

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<v Speaker 5>ninety nine. When I came home, I gave my mom

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<v Speaker 5>three grand. She bought a house and someone going to

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<v Speaker 5>Jersey for one hundred thousand dollars. Three years later the

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<v Speaker 5>house would have been value one hundred thousand dollars. So

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<v Speaker 5>when I cut cleared out her foreclosure she was in.

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<v Speaker 5>We end up selling it and cashing out. Like ninety nine,

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<v Speaker 5>my mom gave me thirty three thousand just for helping

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<v Speaker 5>her with a ten grand. Actually yeah, And so I

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<v Speaker 5>took the thirty three thousand and went about, you know,

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<v Speaker 5>a bird with it and go back in the streets.

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<v Speaker 5>But my point is I saw that real estate was lucrative, right.

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<v Speaker 5>So to answer your question, and this long round of

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<v Speaker 5>way that was what got me into it. Was like Okay,

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<v Speaker 5>this real estate thing had some viability here to be

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<v Speaker 5>my new hustle. And as I was approaching twenty five

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<v Speaker 5>years old and I'm trapping the North, and I had

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<v Speaker 5>another close call with the Feds and some other shit,

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<v Speaker 5>and also I'm like, yo, this is like when I'm thirty.

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<v Speaker 6>I couldn't see myself being free or alive at thirty.

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<v Speaker 5>Like I literally t how to picture myself approaching twenty

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<v Speaker 5>five years old where I was gonna be when I

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<v Speaker 5>was thirty on, all I could imagine was dead or

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<v Speaker 5>in jail. I couldn't even see myself balling or knew,

0:09:39.760 --> 0:09:40.920
<v Speaker 5>you know what I mean. I didn't even see a

0:09:41.000 --> 0:09:42.920
<v Speaker 5>victory for myself. So I was like, if I can't

0:09:42.920 --> 0:09:46.440
<v Speaker 5>picture myself winning, I can't continue this this hustle. And

0:09:46.480 --> 0:09:48.280
<v Speaker 5>so I literally broke my trap flo and I quit

0:09:48.320 --> 0:09:50.160
<v Speaker 5>like that that day, I thought about the shit. Shit

0:09:50.200 --> 0:09:52.560
<v Speaker 5>didn't make sense no more. And I literally had cold turkey,

0:09:52.720 --> 0:09:54.120
<v Speaker 5>I had work left and everything gave it to my

0:09:54.160 --> 0:09:54.920
<v Speaker 5>man like, yo, I'm out.

0:09:55.640 --> 0:09:56.920
<v Speaker 3>I mean you have the date in your head, so

0:09:56.960 --> 0:09:58.520
<v Speaker 3>it's like that that meant something.

0:09:58.240 --> 0:09:59.719
<v Speaker 5>Like yeah, like I'm out. And so I was like,

0:09:59.760 --> 0:10:01.720
<v Speaker 5>you know, because I challenged myself. I said, you know,

0:10:01.720 --> 0:10:03.720
<v Speaker 5>a drug dealer can only sell drugs a true hustle,

0:10:03.760 --> 0:10:04.440
<v Speaker 5>hustle of anything.

0:10:04.880 --> 0:10:06.400
<v Speaker 6>And I'm like, yo, am I a drug dealer? Or

0:10:06.400 --> 0:10:07.319
<v Speaker 6>am I really a hustler?

0:10:07.720 --> 0:10:09.000
<v Speaker 5>And I was like, so, what would happen if I

0:10:09.040 --> 0:10:11.640
<v Speaker 5>took all I bro, I grind, I get busy, like

0:10:11.679 --> 0:10:14.040
<v Speaker 5>my energy, your level is always high. So I'm like,

0:10:14.040 --> 0:10:16.160
<v Speaker 5>what would happen if I took the same energy twenty

0:10:16.160 --> 0:10:18.760
<v Speaker 5>four hour ships from the block, the same energy taking trips,

0:10:19.320 --> 0:10:21.640
<v Speaker 5>you know, all that trips in Nebraska, Maryland I'm talking

0:10:21.640 --> 0:10:24.400
<v Speaker 5>about'm bro, I'm tearing the highways, up streets, up planes,

0:10:24.480 --> 0:10:27.200
<v Speaker 5>up trains, all that. I said, what if I took

0:10:27.200 --> 0:10:29.880
<v Speaker 5>the same innovation, same energy. I'm breaking down work and

0:10:29.920 --> 0:10:32.360
<v Speaker 5>I'm making pressing machines at welding shops, all type of shit.

0:10:32.400 --> 0:10:33.160
<v Speaker 6>Bro, Like I'm nuts.

0:10:33.559 --> 0:10:34.240
<v Speaker 1>So I was like, if I.

0:10:34.160 --> 0:10:36.920
<v Speaker 5>Take this same innovation and energy, the same charisma and swag,

0:10:37.440 --> 0:10:39.200
<v Speaker 5>and I put it into the real estate industry, what

0:10:39.240 --> 0:10:42.600
<v Speaker 5>would happen full time with my full effort, the full

0:10:42.600 --> 0:10:44.959
<v Speaker 5>court press. And so I said, well, if I'm truly

0:10:44.960 --> 0:10:47.199
<v Speaker 5>a hustle, let me go see. And that's when I

0:10:47.400 --> 0:10:49.400
<v Speaker 5>you know, cold Turkey dropped the drug game, got into

0:10:49.440 --> 0:10:52.040
<v Speaker 5>the real estate game. Started as that landlord, got my

0:10:52.080 --> 0:10:54.319
<v Speaker 5>real estate license, my mortgage license, end up making my

0:10:54.360 --> 0:10:55.760
<v Speaker 5>first million and three years in real estate.

0:10:55.800 --> 0:10:56.800
<v Speaker 1>But so how did you scale?

0:10:56.800 --> 0:10:59.160
<v Speaker 2>Okay, so that everybody's in real estate, right and there's

0:10:59.200 --> 0:11:02.400
<v Speaker 2>a lot of real estate agents and realtors mortgage brokers.

0:11:02.400 --> 0:11:04.280
<v Speaker 2>So all right, you're coming off the streets with no

0:11:04.280 --> 0:11:06.520
<v Speaker 2>formal education none. You got it from high school?

0:11:07.440 --> 0:11:07.679
<v Speaker 1>I did.

0:11:07.720 --> 0:11:09.600
<v Speaker 5>I dropped out of high school eleventh grade and then

0:11:09.600 --> 0:11:12.000
<v Speaker 5>I went back to the TOPS program for alternative kids,

0:11:12.160 --> 0:11:14.760
<v Speaker 5>and I graduated from a vocational school.

0:11:14.840 --> 0:11:17.360
<v Speaker 2>Yeah, okay, all right, so you have that, but you know,

0:11:17.440 --> 0:11:20.440
<v Speaker 2>really no other formal education. So how do you go

0:11:20.720 --> 0:11:24.760
<v Speaker 2>from being an ex drug dealer to being a celebrity realtor? Like,

0:11:24.920 --> 0:11:26.480
<v Speaker 2>you know, I'm assuming you was like in the top

0:11:26.760 --> 0:11:29.360
<v Speaker 2>ten percent, five percent whatever relator is to you know, whatever,

0:11:29.400 --> 0:11:30.800
<v Speaker 2>How do you how does that happen?

0:11:30.880 --> 0:11:33.920
<v Speaker 5>Like? I actually brought my office's highest listing in Fort

0:11:33.960 --> 0:11:35.839
<v Speaker 5>Lee office, ten million dollars listing from Alpine. It was

0:11:35.840 --> 0:11:37.560
<v Speaker 5>the highest office listing in my office. I was the

0:11:37.559 --> 0:11:39.959
<v Speaker 5>first African man in America hired by prominent properties so

0:11:40.080 --> 0:11:42.559
<v Speaker 5>that he's international realty in all prominent properties.

0:11:42.559 --> 0:11:43.839
<v Speaker 1>But so how did that happen for you?

0:11:43.960 --> 0:11:46.640
<v Speaker 2>For your relators that are still realtors themselves, Like how

0:11:47.040 --> 0:11:49.040
<v Speaker 2>trying to like break through the cause it's a lot

0:11:49.080 --> 0:11:49.360
<v Speaker 2>of them.

0:11:49.360 --> 0:11:52.280
<v Speaker 5>So like it's the same in tangible skills brought on

0:11:52.320 --> 0:11:54.920
<v Speaker 5>matter for it's realtor selling shirts, selling hot throw, selling

0:11:55.000 --> 0:11:57.400
<v Speaker 5>drug it's the same thing is that I went and

0:11:57.440 --> 0:12:00.920
<v Speaker 5>found to connect like I'm intentional. When I was a

0:12:00.960 --> 0:12:03.959
<v Speaker 5>real estate agent and I started off with Keller Williams

0:12:04.000 --> 0:12:06.079
<v Speaker 5>and being a regular residential agent, and you know, I

0:12:06.120 --> 0:12:08.600
<v Speaker 5>went through that phase for a few years and then

0:12:09.640 --> 0:12:12.160
<v Speaker 5>you know, I started actually managing two mortgage companies. As

0:12:12.160 --> 0:12:13.640
<v Speaker 5>I worked my way up from a loan officer, I

0:12:13.720 --> 0:12:17.520
<v Speaker 5>just golfed the business. But as I got kind of

0:12:17.760 --> 0:12:20.559
<v Speaker 5>tired aboard and there's another long story within that which

0:12:20.559 --> 0:12:22.040
<v Speaker 5>I'll save us. But when I got to the point

0:12:22.040 --> 0:12:23.839
<v Speaker 5>where I was like, you know what, this ain't really sexy,

0:12:23.840 --> 0:12:25.320
<v Speaker 5>This ain't really my swag used to be a real

0:12:25.400 --> 0:12:27.840
<v Speaker 5>estate agent, Like that's just not like this. It ain't

0:12:27.880 --> 0:12:28.520
<v Speaker 5>really cool to me.

0:12:29.080 --> 0:12:32.480
<v Speaker 6>So I was like myster reality, like you know what

0:12:32.480 --> 0:12:32.920
<v Speaker 6>I'm saying.

0:12:33.200 --> 0:12:34.920
<v Speaker 5>So I'm like, you know what, though, I see these

0:12:34.920 --> 0:12:37.320
<v Speaker 5>guys on TV doing the high end houses, the million

0:12:37.320 --> 0:12:38.440
<v Speaker 5>dollar listers and all of that, I'm like.

0:12:38.440 --> 0:12:40.320
<v Speaker 6>You know what I could dig that, I could get flying,

0:12:40.400 --> 0:12:43.240
<v Speaker 6>you know, I mean the million dollar lister and MultiMate

0:12:43.280 --> 0:12:43.760
<v Speaker 6>die houses.

0:12:43.840 --> 0:12:46.440
<v Speaker 5>So what I did was I googled richest town to

0:12:46.480 --> 0:12:49.040
<v Speaker 5>New Jersey. Simple, I said, I want to sell high

0:12:49.080 --> 0:12:50.840
<v Speaker 5>in houses. I want to be a luxury real estate agent.

0:12:51.000 --> 0:12:53.480
<v Speaker 5>So where the fuck the luxury real estate properties at?

0:12:53.720 --> 0:12:55.880
<v Speaker 5>So I googled richest town to New Jersey. Alpine, New

0:12:55.920 --> 0:12:57.920
<v Speaker 5>Jersey came up. I went and took nine interviews in

0:12:57.960 --> 0:13:00.400
<v Speaker 5>two days in Alpine. And then as I'm up in

0:13:00.400 --> 0:13:03.120
<v Speaker 5>Alpine seeing all these multi million dollar houses, I see

0:13:03.160 --> 0:13:05.560
<v Speaker 5>all these blue signs in front of these the biggest houses,

0:13:05.600 --> 0:13:07.160
<v Speaker 5>and I couldn't even pronounce souther Bees. I know what

0:13:07.200 --> 0:13:08.560
<v Speaker 5>the fuck that ship was. It was like I did

0:13:08.640 --> 0:13:10.800
<v Speaker 5>know how to pronounce it. But I'm like, all right,

0:13:10.880 --> 0:13:13.160
<v Speaker 5>this they winning? Like this other Beast is this blue

0:13:13.200 --> 0:13:14.800
<v Speaker 5>sign with this s O T H E B Y

0:13:14.880 --> 0:13:18.040
<v Speaker 5>whatever have you say? That they winning? And so I

0:13:18.200 --> 0:13:20.880
<v Speaker 5>rode past the Southern Beast branch office in Alpine, and

0:13:20.920 --> 0:13:24.680
<v Speaker 5>then I walked into the office, and after meeting with

0:13:24.679 --> 0:13:26.360
<v Speaker 5>a White kerd and Carwell banker and a few other

0:13:26.360 --> 0:13:29.800
<v Speaker 5>agents branches up there, and the manager of the office,

0:13:29.800 --> 0:13:31.040
<v Speaker 5>she just fell in love with me and he was married.

0:13:31.080 --> 0:13:32.200
<v Speaker 5>She just fell in love with me. Was like, oh

0:13:32.200 --> 0:13:34.679
<v Speaker 5>my god, you're so handsome, You're so that there. I

0:13:34.720 --> 0:13:36.720
<v Speaker 5>told her my story, I told her everything, the felonies,

0:13:36.760 --> 0:13:38.840
<v Speaker 5>where I come from, the whole thing, and she was

0:13:38.880 --> 0:13:40.319
<v Speaker 5>just like, that's so awesome.

0:13:42.000 --> 0:13:43.679
<v Speaker 3>Around.

0:13:43.480 --> 0:13:45.480
<v Speaker 6>I love you.

0:13:46.600 --> 0:13:48.880
<v Speaker 5>So she she talked to the CEO of the company

0:13:49.000 --> 0:13:50.800
<v Speaker 5>and we had a meeting with them, and I went

0:13:50.840 --> 0:13:54.400
<v Speaker 5>to the you know, other branch and bro they hired me.

0:13:55.000 --> 0:13:57.520
<v Speaker 7>So where is there a specific listing that changed the

0:13:57.520 --> 0:14:00.440
<v Speaker 7>game for you from that being at that physician.

0:14:02.080 --> 0:14:03.880
<v Speaker 5>Yeah, I mean, I don't think it was so much

0:14:03.880 --> 0:14:06.120
<v Speaker 5>of a specific listing. What changed the game for me

0:14:06.440 --> 0:14:08.439
<v Speaker 5>was Southernby's had great branding.

0:14:08.640 --> 0:14:11.080
<v Speaker 2>Can you explain what somether BEA's is because I'm gonna

0:14:11.080 --> 0:14:12.319
<v Speaker 2>ask you a question about them, but a lot of

0:14:12.360 --> 0:14:13.800
<v Speaker 2>people might not know who that actually is.

0:14:13.880 --> 0:14:18.040
<v Speaker 5>Yeah. So Southeby's International Realty, Well, Southbea't as a company.

0:14:18.080 --> 0:14:23.320
<v Speaker 5>They function in luxury assets period, so they're mainly an

0:14:23.400 --> 0:14:26.960
<v Speaker 5>art in the art world, the art, diamonds, and high

0:14:27.000 --> 0:14:29.600
<v Speaker 5>end real estate. So Southern Beasts throughout the world is

0:14:29.640 --> 0:14:32.280
<v Speaker 5>known really for their art auctions, for their the diamonds

0:14:32.280 --> 0:14:35.000
<v Speaker 5>and jewelry, and for their high end luxury real estate,

0:14:35.600 --> 0:14:39.800
<v Speaker 5>and so that was attractive to me. And so anyway,

0:14:39.880 --> 0:14:45.440
<v Speaker 5>being at Southerby's, I learned so much about a different

0:14:45.520 --> 0:14:48.600
<v Speaker 5>level of business infrastructure and a different level of branding

0:14:48.640 --> 0:14:50.560
<v Speaker 5>and marketing, right, and that's what really changed the game

0:14:50.560 --> 0:14:52.440
<v Speaker 5>for me. Well, my brand's so like dope, now, you

0:14:52.480 --> 0:14:54.160
<v Speaker 5>know what I mean. It's like I really saw how

0:14:54.160 --> 0:14:57.440
<v Speaker 5>they package things and and really you know, higher level

0:14:57.480 --> 0:15:00.200
<v Speaker 5>and and the owner's sun and I don't.

0:15:00.640 --> 0:15:02.840
<v Speaker 6>Big Actually, I don't really have a grudge with other bees.

0:15:02.880 --> 0:15:04.400
<v Speaker 5>They asked me to resign, and I get to that

0:15:04.440 --> 0:15:07.320
<v Speaker 5>story later, but it actually propelled my whole career. So

0:15:07.320 --> 0:15:10.680
<v Speaker 5>I actually appreciate the blessing and asked me to resign

0:15:10.720 --> 0:15:13.760
<v Speaker 5>because of my vocalness about being a spokesperson in the

0:15:13.760 --> 0:15:18.360
<v Speaker 5>black community and it didn't match their brand. But nevertheless,

0:15:18.520 --> 0:15:22.120
<v Speaker 5>the owner's son, Michael Oppler, he challenged me as I

0:15:22.160 --> 0:15:23.840
<v Speaker 5>was new in the business and said, okay, listen, you

0:15:23.840 --> 0:15:25.720
<v Speaker 5>were mister real estate in Central Jersey. You know, it

0:15:25.760 --> 0:15:27.640
<v Speaker 5>was cool. You were the guy in urban America, but

0:15:28.440 --> 0:15:31.400
<v Speaker 5>up here don't fly. And he was like, you know,

0:15:31.400 --> 0:15:34.080
<v Speaker 5>why would someone trust you with their multi million dollar house.

0:15:34.120 --> 0:15:36.200
<v Speaker 5>What's different from you than all these other agents who

0:15:36.240 --> 0:15:38.240
<v Speaker 5>live here, who come from here, who don't look like

0:15:38.320 --> 0:15:39.640
<v Speaker 5>you. You know, what's your why?

0:15:39.680 --> 0:15:40.880
<v Speaker 6>Why do you want to be here and why do

0:15:40.880 --> 0:15:41.680
<v Speaker 6>you want to do real estate?

0:15:41.920 --> 0:15:43.440
<v Speaker 5>And he sent me a video from some guy on

0:15:43.480 --> 0:15:46.360
<v Speaker 5>YouTube and some small crowd and the videos like find

0:15:46.360 --> 0:15:48.960
<v Speaker 5>your wire or whatever, and I watched it and it

0:15:49.000 --> 0:15:50.720
<v Speaker 5>really touched me and they made me think about So

0:15:50.840 --> 0:15:53.520
<v Speaker 5>they challenged me to bring them a business plan of

0:15:53.920 --> 0:15:55.720
<v Speaker 5>my why and what I was going to do different

0:15:55.720 --> 0:15:57.960
<v Speaker 5>as souther Bees if they were to, you know, get

0:15:58.000 --> 0:16:01.160
<v Speaker 5>behind me. And so I said, my why why I'm

0:16:01.200 --> 0:16:03.080
<v Speaker 5>excited about real estate is because the way real estate

0:16:03.160 --> 0:16:05.760
<v Speaker 5>changed my life. And I want to bridge the gap

0:16:05.760 --> 0:16:08.560
<v Speaker 5>between real estate and pop culture meaning our culture right,

0:16:08.600 --> 0:16:09.840
<v Speaker 5>pop culture right?

0:16:10.000 --> 0:16:12.120
<v Speaker 6>And so I made this business plan deck. I still

0:16:12.120 --> 0:16:12.920
<v Speaker 6>have it in my email.

0:16:13.160 --> 0:16:15.320
<v Speaker 5>It had Jay Z and Beyonce on the front and

0:16:15.320 --> 0:16:16.920
<v Speaker 5>it was like bridging the gap between real estate and

0:16:16.960 --> 0:16:19.520
<v Speaker 5>pop culture. And I gave him my business plan of

0:16:19.560 --> 0:16:22.000
<v Speaker 5>how I was going to impact pop culture and put

0:16:22.040 --> 0:16:24.480
<v Speaker 5>everybody on the real estate. It had everything from teaching

0:16:24.480 --> 0:16:27.680
<v Speaker 5>the high schools, teaching in colleges, doing celebrity events, to

0:16:28.120 --> 0:16:30.360
<v Speaker 5>open houses, to all these creative things that I literally

0:16:30.360 --> 0:16:33.440
<v Speaker 5>do now today. But that was my why, and so

0:16:34.040 --> 0:16:37.560
<v Speaker 5>I had the opportunity through one of my friends at

0:16:37.600 --> 0:16:40.400
<v Speaker 5>the time who was promoting me and supporting me.

0:16:40.840 --> 0:16:43.840
<v Speaker 6>She was just googling and researching online.

0:16:43.960 --> 0:16:49.280
<v Speaker 5>Different networks that had opportunities for realtors, and NBC was

0:16:49.280 --> 0:16:52.480
<v Speaker 5>looking for a realtor for their show Open House NYC.

0:16:53.240 --> 0:16:55.520
<v Speaker 5>And I happened to have a client at the time,

0:16:55.560 --> 0:17:01.560
<v Speaker 5>Mohamed Wilkerson Shout the mo and they were doing their

0:17:01.560 --> 0:17:03.840
<v Speaker 5>Super Bowl edition. So when we hit them, we said, listen,

0:17:03.920 --> 0:17:06.520
<v Speaker 5>I got an NFL client. You know former Jets, Yeah,

0:17:06.520 --> 0:17:08.680
<v Speaker 5>former Jets player. Yeah, I have an NFL client. And

0:17:08.680 --> 0:17:10.159
<v Speaker 5>they were like, oh, perfect, can we bring him on

0:17:10.200 --> 0:17:11.840
<v Speaker 5>for NBC? So I hit him up be like yeah.

0:17:11.880 --> 0:17:13.840
<v Speaker 5>So I went and showed him too high end properties

0:17:13.880 --> 0:17:16.439
<v Speaker 5>on NBC and then NBC hit me back like, hey,

0:17:16.480 --> 0:17:18.200
<v Speaker 5>this is the highest ratings that we had all year,

0:17:18.720 --> 0:17:20.080
<v Speaker 5>Like you know what I mean. We loved doing the show.

0:17:20.119 --> 0:17:22.880
<v Speaker 5>You're so natural can you do anymore? I'm like, all right, cool.

0:17:23.440 --> 0:17:27.160
<v Speaker 5>So then I started taking other clients Angelaouee, Bobby and

0:17:27.960 --> 0:17:30.480
<v Speaker 5>the twins from the forty to forty Club. It was

0:17:30.480 --> 0:17:32.600
<v Speaker 5>my bros. I forgot their name, my bad, But anyway,

0:17:32.760 --> 0:17:34.560
<v Speaker 5>I was taking different people I knew on my network

0:17:34.680 --> 0:17:38.159
<v Speaker 5>on NBC, right, and so I brought that value to

0:17:38.200 --> 0:17:41.240
<v Speaker 5>Southern Beast as well. So now I'm on NBC representing

0:17:41.280 --> 0:17:44.159
<v Speaker 5>southerbas in front of two to three million viewers every week,

0:17:44.600 --> 0:17:47.640
<v Speaker 5>right as I was featuring and obviously lifting my brand

0:17:47.680 --> 0:17:51.200
<v Speaker 5>at the same time. But during that time, I didn't

0:17:51.200 --> 0:17:52.840
<v Speaker 5>lose track of my why my wife was a bridge

0:17:52.880 --> 0:17:55.399
<v Speaker 5>gap between real estate and pop culture. So I also

0:17:55.560 --> 0:17:57.760
<v Speaker 5>was teaching or going to inner city schools, and I

0:17:57.760 --> 0:18:00.480
<v Speaker 5>started a program called hip Hop to Homeowners where I

0:18:00.520 --> 0:18:04.359
<v Speaker 5>was teaching inner city kids about real estate, mortgages, credit

0:18:04.440 --> 0:18:06.280
<v Speaker 5>and all that. And I did it through a So

0:18:06.280 --> 0:18:08.040
<v Speaker 5>I was thinking, like, Okay, if I want to bridge

0:18:08.040 --> 0:18:10.320
<v Speaker 5>the gap between real estate and pop culture, it's cool

0:18:10.320 --> 0:18:12.840
<v Speaker 5>to teach us, oh hez, but what about the youth

0:18:12.960 --> 0:18:14.800
<v Speaker 5>who could have got this game earlier and been way

0:18:14.840 --> 0:18:17.480
<v Speaker 5>ahead of the game than us. So I was like, well,

0:18:17.560 --> 0:18:19.280
<v Speaker 5>if I was seventeen. How the hell would I want

0:18:19.280 --> 0:18:20.840
<v Speaker 5>to learn real estate? I want want anybody coming and

0:18:20.840 --> 0:18:23.359
<v Speaker 5>give me some boring lectures talk about real estate. So

0:18:23.400 --> 0:18:24.840
<v Speaker 5>I was like, you know what, let's bring some music

0:18:24.880 --> 0:18:27.520
<v Speaker 5>in some giveaways, right, And so I put together a

0:18:27.560 --> 0:18:29.840
<v Speaker 5>program like in one week on my iPad and my crib,

0:18:29.960 --> 0:18:32.360
<v Speaker 5>just put together little keynote, my first little keynote ever

0:18:32.359 --> 0:18:36.080
<v Speaker 5>made in my iPad presentation. And I just that was

0:18:36.119 --> 0:18:39.639
<v Speaker 5>in January and then February. I actually actually January, I

0:18:39.680 --> 0:18:42.320
<v Speaker 5>started calling cold calling school saying, hey, listen, I'm a

0:18:42.320 --> 0:18:44.720
<v Speaker 5>celebrity realtor. I want to teach this game to kids

0:18:44.720 --> 0:18:46.760
<v Speaker 5>in your school. I went to Carter At High School

0:18:46.760 --> 0:18:49.400
<v Speaker 5>in the Jersey Malcolm iciha Baz and Nork Central High

0:18:49.440 --> 0:18:52.040
<v Speaker 5>School in Nork where the Honorable Mayor ros Baraka of

0:18:52.080 --> 0:18:54.719
<v Speaker 5>Nork he once was a principal there. He was a

0:18:54.720 --> 0:18:56.800
<v Speaker 5>principle when I did in school and just thirty I

0:18:56.800 --> 0:18:58.760
<v Speaker 5>did thirty schools in one year where I was teaching

0:18:59.240 --> 0:19:01.880
<v Speaker 5>using DJ Litle, a man of other DJs, rock Away

0:19:01.880 --> 0:19:03.960
<v Speaker 5>a sponsored that giving us giveaways and I was just

0:19:04.000 --> 0:19:07.119
<v Speaker 5>teaching kids about financial literacy and real estate and his

0:19:07.240 --> 0:19:09.920
<v Speaker 5>creative ass assembly and he was really getting it though,

0:19:10.200 --> 0:19:12.040
<v Speaker 5>like four hundred and fifty kids, six hundred kids, eight

0:19:12.119 --> 0:19:14.560
<v Speaker 5>hundred kids, inner city kids who were learning the definition

0:19:14.600 --> 0:19:16.760
<v Speaker 5>of credit, who were learning mortgage right and you know

0:19:16.800 --> 0:19:20.000
<v Speaker 5>all that and so all that again just wound up

0:19:20.000 --> 0:19:22.880
<v Speaker 5>into my why. And what I did uniquely at souther

0:19:22.960 --> 0:19:25.480
<v Speaker 5>Bees was that so you asked me about a listing,

0:19:25.480 --> 0:19:27.840
<v Speaker 5>and it wasn't a listing that set me off. Now,

0:19:27.880 --> 0:19:31.080
<v Speaker 5>I did bring in a high end listing. I beat

0:19:31.080 --> 0:19:32.960
<v Speaker 5>this guy down and brought a timion dollar listing and

0:19:33.000 --> 0:19:35.359
<v Speaker 5>had you know, other real estate activity going on. But

0:19:35.440 --> 0:19:38.040
<v Speaker 5>my focus, I realized, wasn't the real estate. And Southern

0:19:38.080 --> 0:19:39.800
<v Speaker 5>Bees realized that too, like, hey, you know what, you're

0:19:39.840 --> 0:19:41.280
<v Speaker 5>not really focusing on real estate.

0:19:41.440 --> 0:19:43.040
<v Speaker 6>But I was focusing on the why you told me

0:19:43.040 --> 0:19:43.440
<v Speaker 6>to find.

0:19:44.119 --> 0:19:45.679
<v Speaker 5>You know what I'm saying. My why wasn't just the

0:19:45.760 --> 0:19:49.680
<v Speaker 5>list high in houses. My why was the impact of culture.

0:19:49.840 --> 0:19:52.360
<v Speaker 5>And so Southern Beason and I had a brand clash.

0:19:52.640 --> 0:19:54.520
<v Speaker 5>And when I dropped my wake up video on World

0:19:54.520 --> 0:19:57.680
<v Speaker 5>Star telling the community to wake the fuck up and

0:19:57.800 --> 0:20:00.680
<v Speaker 5>get our stuff together, Uh, that's when you know, after

0:20:00.680 --> 0:20:02.800
<v Speaker 5>a few conversations, the CEO was like, yo, you know,

0:20:02.880 --> 0:20:04.600
<v Speaker 5>saw a nine minute video of you've been a spokesman

0:20:04.640 --> 0:20:06.879
<v Speaker 5>for the black community and although you're comfortable with that,

0:20:07.000 --> 0:20:10.240
<v Speaker 5>I am not ask you to resign. And I was like,

0:20:10.240 --> 0:20:10.600
<v Speaker 5>all right.

0:20:10.600 --> 0:20:10.879
<v Speaker 3>Cool.

0:20:11.240 --> 0:20:13.320
<v Speaker 5>At that time, Callwell Banker had asked me to be

0:20:13.320 --> 0:20:16.040
<v Speaker 5>a brand ambassador for them for North America. They want

0:20:16.080 --> 0:20:18.200
<v Speaker 5>to be their brand abassador for North America of Callwell Banker.

0:20:18.240 --> 0:20:20.160
<v Speaker 5>So we had those conversations. I went over to Colworld Banker.

0:20:20.480 --> 0:20:22.040
<v Speaker 5>That didn't work out, and I was like, you know what,

0:20:22.400 --> 0:20:25.080
<v Speaker 5>I think I'm done with this realtor thing. I think

0:20:25.080 --> 0:20:27.600
<v Speaker 5>it's time for me to really pursue what I really

0:20:27.640 --> 0:20:30.879
<v Speaker 5>want to do. And I also realized while showing a

0:20:30.880 --> 0:20:33.200
<v Speaker 5>lot of NFL guys and NBA guys houses and all

0:20:33.240 --> 0:20:35.199
<v Speaker 5>that kind of stuff, I'm like, wait, bro, I just

0:20:35.240 --> 0:20:38.720
<v Speaker 5>showed you thirteen houses. I'm a great consultant. I asked

0:20:38.760 --> 0:20:41.440
<v Speaker 5>you every question first, so I knew exactly what you wanted.

0:20:41.600 --> 0:20:43.639
<v Speaker 5>I gave you everything you wanted. You brought your girls,

0:20:43.680 --> 0:20:45.680
<v Speaker 5>she liked it. Then you had to follow your mother

0:20:45.720 --> 0:20:47.320
<v Speaker 5>in law in and then she didn't like you to

0:20:47.320 --> 0:20:49.040
<v Speaker 5>go back to the drawing board and another one. So

0:20:49.080 --> 0:20:51.520
<v Speaker 5>I'm like, wait, I just spent like three days in

0:20:51.560 --> 0:20:53.600
<v Speaker 5>my life showing you houses and hopes to get a

0:20:53.600 --> 0:20:55.879
<v Speaker 5>commission all for you to say, you know what, bro,

0:20:55.920 --> 0:20:57.040
<v Speaker 5>I don't wait till after the season.

0:20:57.200 --> 0:20:57.560
<v Speaker 3>I'm good.

0:20:57.840 --> 0:20:58.960
<v Speaker 5>I was like, you know what, this is not the

0:20:58.960 --> 0:21:01.560
<v Speaker 5>best opportunity to call some time. I was like, I

0:21:01.640 --> 0:21:03.080
<v Speaker 5>know how to invest, I know how to get real

0:21:03.160 --> 0:21:05.680
<v Speaker 5>estate money. Why would I spend time showing you forty

0:21:05.680 --> 0:21:07.879
<v Speaker 5>houses to hopefully get a commissioned? And I say that

0:21:07.880 --> 0:21:10.080
<v Speaker 5>at the same time to go get a fix and

0:21:10.080 --> 0:21:13.440
<v Speaker 5>flip with development a lot myself and go make even

0:21:13.480 --> 0:21:15.640
<v Speaker 5>more money. And so it just dawned on me that

0:21:15.840 --> 0:21:18.040
<v Speaker 5>what I wanted to do I was going about it backwards.

0:21:18.040 --> 0:21:20.199
<v Speaker 5>It was a great entry going as a realtor, but

0:21:20.240 --> 0:21:21.800
<v Speaker 5>it's not I didn't want to be a celebrity realtor

0:21:21.840 --> 0:21:24.479
<v Speaker 5>and that's how I came and built part of my brand.

0:21:24.520 --> 0:21:26.479
<v Speaker 5>But it was like, no, I mean, I'm a developer,

0:21:26.520 --> 0:21:28.159
<v Speaker 5>I'm a hustler, I'm a builder, I'm you know what

0:21:28.160 --> 0:21:31.800
<v Speaker 5>I mean? Like, I'm not just that, And so I

0:21:31.840 --> 0:21:35.399
<v Speaker 5>segued in into focusing back on my real estate investment company.

0:21:35.400 --> 0:21:38.120
<v Speaker 5>I then launched to J Morrison Academy in January of

0:21:38.200 --> 0:21:42.879
<v Speaker 5>twenty fourteen and got into full blown education, put our

0:21:42.920 --> 0:21:44.200
<v Speaker 5>curriculum together and all that other times.

0:21:44.200 --> 0:21:47.119
<v Speaker 7>So the root of the Jay Morrison Academy that was

0:21:47.119 --> 0:21:50.200
<v Speaker 7>based off the programs you were doing in the city's schools.

0:21:49.840 --> 0:21:51.359
<v Speaker 3>In Newark, New Jersey.

0:21:51.800 --> 0:21:54.080
<v Speaker 5>Yeah, so that was like so actually the root of

0:21:54.119 --> 0:21:57.080
<v Speaker 5>Jay Morrison Academy was the world Star video. I got

0:21:57.160 --> 0:21:58.680
<v Speaker 5>so many that that world Star video is like a

0:21:58.720 --> 0:22:00.720
<v Speaker 5>quarter million views the first day to wake up to

0:22:00.760 --> 0:22:03.320
<v Speaker 5>wake up, yeah, back in the May back and I

0:22:03.359 --> 0:22:06.040
<v Speaker 5>got so many emails of people like, Yo, bro, how

0:22:06.040 --> 0:22:07.880
<v Speaker 5>can I get mentor by you? Bro? I stop gang

0:22:07.920 --> 0:22:10.679
<v Speaker 5>banging because of you. Bro. That shit makes sense bro right,

0:22:10.960 --> 0:22:13.159
<v Speaker 5>And so I'm like, damn, I can't mentor all these people.

0:22:13.560 --> 0:22:15.080
<v Speaker 6>And so I was like, Yo, how do I I

0:22:15.160 --> 0:22:15.680
<v Speaker 6>know the game?

0:22:15.760 --> 0:22:15.920
<v Speaker 5>Though?

0:22:15.960 --> 0:22:16.360
<v Speaker 8>Like bro?

0:22:16.440 --> 0:22:18.919
<v Speaker 6>I literally transitioned out of the street from from the

0:22:19.080 --> 0:22:20.080
<v Speaker 6>from the mud, like bro.

0:22:20.160 --> 0:22:22.240
<v Speaker 5>I had no corporate etiquette, no professional etiquette, Like I

0:22:22.280 --> 0:22:23.960
<v Speaker 5>don't know how to send an email in two thousand

0:22:23.960 --> 0:22:24.960
<v Speaker 5>and five, and I got in a real estate that

0:22:25.000 --> 0:22:27.280
<v Speaker 5>like such an email up on what? Like how you

0:22:27.320 --> 0:22:27.640
<v Speaker 5>do that?

0:22:29.280 --> 0:22:30.119
<v Speaker 1>Like you know what?

0:22:30.760 --> 0:22:32.800
<v Speaker 5>So I've built this and I built myself up from

0:22:32.800 --> 0:22:35.359
<v Speaker 5>the from the from the ground, and so I knew

0:22:35.359 --> 0:22:37.879
<v Speaker 5>I could give back in and pack people, but I

0:22:37.880 --> 0:22:40.280
<v Speaker 5>didn't know what vehicle to do that, and one on one,

0:22:40.520 --> 0:22:42.840
<v Speaker 5>I mean, I only got so much capacity. And so

0:22:42.960 --> 0:22:44.760
<v Speaker 5>that's when I was like, Okay, I didn't know what's

0:22:44.760 --> 0:22:47.080
<v Speaker 5>called the curriculum back then, but I was like, okay'mnna

0:22:47.080 --> 0:22:47.800
<v Speaker 5>put together.

0:22:48.080 --> 0:22:50.639
<v Speaker 6>Like I'm an automate, like what I know. So I'm

0:22:50.640 --> 0:22:52.919
<v Speaker 6>gonna teach what I know. I'm gonna record it.

0:22:53.119 --> 0:22:55.200
<v Speaker 5>I'm gonna do mentorship calls every week so people don't

0:22:55.200 --> 0:22:56.960
<v Speaker 5>just don't watch videos like YouTube, but you actually can

0:22:56.960 --> 0:22:58.480
<v Speaker 5>call me every week and get mentorship.

0:22:58.680 --> 0:23:00.800
<v Speaker 6>So I opened up a group mentorship, I'll put.

0:23:00.720 --> 0:23:03.680
<v Speaker 5>Together curriculum, got with some developers, put together our school

0:23:03.720 --> 0:23:06.800
<v Speaker 5>website that I thought of the idea of November twenty thirteen.

0:23:07.119 --> 0:23:09.960
<v Speaker 5>We did a soft launched December twenty thirteen. We launched

0:23:10.040 --> 0:23:13.159
<v Speaker 5>our school January eighth of twenty fourteen, and since then

0:23:13.200 --> 0:23:15.600
<v Speaker 5>had over eighty thousand students. Are now in five hundred

0:23:15.600 --> 0:23:18.199
<v Speaker 5>top ten educational companies in the country. Wow for in

0:23:18.240 --> 0:23:18.880
<v Speaker 5>real life.

0:23:20.000 --> 0:23:21.600
<v Speaker 2>All right, So now we got the backstory. So on

0:23:21.680 --> 0:23:23.639
<v Speaker 2>the next segment, we're going to go into some gyms,

0:23:23.640 --> 0:23:26.520
<v Speaker 2>and get some education in real estate because that's what

0:23:26.520 --> 0:23:29.159
<v Speaker 2>we had, That's what I do, all right, So now

0:23:29.200 --> 0:23:31.600
<v Speaker 2>we're going to talk about some some key terms because

0:23:31.600 --> 0:23:33.640
<v Speaker 2>we had we had a couple of real estate episodes,

0:23:33.640 --> 0:23:37.000
<v Speaker 2>but each real estate episode is different. And I jotted

0:23:37.040 --> 0:23:39.440
<v Speaker 2>down some stuff that AI got from your page and

0:23:39.480 --> 0:23:41.440
<v Speaker 2>b that we haven't coverage yet, so I think it'll

0:23:41.480 --> 0:23:43.240
<v Speaker 2>be good information. So first thing I want to talk

0:23:43.240 --> 0:23:45.679
<v Speaker 2>about is a helock, right, and I saw in your

0:23:45.680 --> 0:23:47.840
<v Speaker 2>page you had something about refive versus helock. So we

0:23:47.840 --> 0:23:49.959
<v Speaker 2>talked about the refive, But can you explain he lock?

0:23:50.000 --> 0:23:52.080
<v Speaker 2>We haven't covered helocks yet, can you explain, Well, what

0:23:52.200 --> 0:23:52.359
<v Speaker 2>is it?

0:23:52.600 --> 0:23:53.879
<v Speaker 1>Helock? You can stand for all right?

0:23:53.880 --> 0:23:57.960
<v Speaker 5>So he lock is home equity line of credit and

0:23:58.520 --> 0:24:01.520
<v Speaker 5>it's a way to tap into your equity without restarting

0:24:01.520 --> 0:24:04.119
<v Speaker 5>your mortgage again. So like with a refinance, you're getting

0:24:04.119 --> 0:24:06.520
<v Speaker 5>a whole new loan, whole new mortgage. So you could

0:24:06.560 --> 0:24:08.560
<v Speaker 5>have paid your house down for the last seventeen years

0:24:08.840 --> 0:24:11.119
<v Speaker 5>and you get a refinance, you back to zero on

0:24:11.160 --> 0:24:14.320
<v Speaker 5>a thirty year mortgage to tap into your equity. With

0:24:14.400 --> 0:24:17.040
<v Speaker 5>a helock, you can tap into your equity keeping your

0:24:17.040 --> 0:24:20.240
<v Speaker 5>existing mortgage. But now you put a second mortgage or

0:24:20.280 --> 0:24:23.119
<v Speaker 5>a mortgage piggybacking that mortgage right behind it, and you

0:24:23.160 --> 0:24:25.920
<v Speaker 5>can tap into your equity that way through a second mortgage,

0:24:25.960 --> 0:24:29.320
<v Speaker 5>not resetting your first mortgage. And with a helock, it's

0:24:29.320 --> 0:24:31.639
<v Speaker 5>a home equity line of credit. So it's not a

0:24:31.680 --> 0:24:34.399
<v Speaker 5>new loan, but it's a line you can tap into.

0:24:34.480 --> 0:24:36.600
<v Speaker 5>So with the refinance, you gotta start paying on that

0:24:36.600 --> 0:24:39.720
<v Speaker 5>capital the day you refinance, right that whole new loan.

0:24:39.800 --> 0:24:42.040
<v Speaker 5>With a helock, it just says, hey, I got access

0:24:42.080 --> 0:24:44.800
<v Speaker 5>to the seventy grand, and I only pay on whatever

0:24:44.840 --> 0:24:47.000
<v Speaker 5>I use of that seventy grand. So if I find

0:24:47.040 --> 0:24:49.960
<v Speaker 5>a property in Detroit that I can go acquire for

0:24:50.000 --> 0:24:53.120
<v Speaker 5>eleven thousand and put twenty thousand into and flip, I'm

0:24:53.119 --> 0:24:55.160
<v Speaker 5>only gonna pay on twenty one thousand I borrowed from

0:24:55.160 --> 0:24:57.600
<v Speaker 5>the helock, As opposed if I have refinance and pull

0:24:57.680 --> 0:24:59.920
<v Speaker 5>seventy thousand, now I'm paying interest on that whole seven

0:25:00.119 --> 0:25:02.080
<v Speaker 5>d or the helock, you're only paying interest when they

0:25:02.080 --> 0:25:02.640
<v Speaker 5>mount you used.

0:25:02.680 --> 0:25:05.040
<v Speaker 7>Is it a separate statement when you get your Yes,

0:25:05.040 --> 0:25:07.200
<v Speaker 7>it's a complete pole separate loan.

0:25:07.240 --> 0:25:09.960
<v Speaker 5>It is a second loan to your existing loan.

0:25:10.080 --> 0:25:11.760
<v Speaker 2>But does it still go off of the equity, all right,

0:25:11.800 --> 0:25:13.720
<v Speaker 2>So the REFI is like, you have a two hundred

0:25:13.760 --> 0:25:15.760
<v Speaker 2>thousand dollars house and it goes up to four hundred thousand.

0:25:15.760 --> 0:25:17.280
<v Speaker 2>Now you have two hundred thousand dollars in equity, you

0:25:17.280 --> 0:25:18.320
<v Speaker 2>can be five from that?

0:25:18.400 --> 0:25:21.560
<v Speaker 1>Right? Is the he lock still based off of that equity.

0:25:21.359 --> 0:25:23.920
<v Speaker 5>Or well, let's let's correct that this is a big

0:25:24.320 --> 0:25:27.720
<v Speaker 5>misunderstanding that we teach in the J. Morrison Academy for

0:25:27.760 --> 0:25:30.040
<v Speaker 5>our students. Many times we think that Okay, I got

0:25:30.040 --> 0:25:32.240
<v Speaker 5>a house that's two hundred thousand, right that I owe

0:25:32.680 --> 0:25:34.240
<v Speaker 5>and it's worth four hundred thousand.

0:25:34.400 --> 0:25:36.480
<v Speaker 6>Right, You're like, yo, bro, got two hundred thousand equity?

0:25:36.480 --> 0:25:38.680
<v Speaker 5>What could I do? You got two hundred thousand dollars

0:25:38.680 --> 0:25:40.560
<v Speaker 5>in equity, but you don't have two undred thousand equity

0:25:40.560 --> 0:25:43.160
<v Speaker 5>that you can use. Right. So the banks have something

0:25:43.160 --> 0:25:45.840
<v Speaker 5>called a loan to value what we call LTV. Right,

0:25:45.880 --> 0:25:48.199
<v Speaker 5>So you here term LTV. It means loan to value.

0:25:48.640 --> 0:25:51.639
<v Speaker 5>And so the banks may say, will lend you eighty

0:25:51.720 --> 0:25:55.000
<v Speaker 5>percent LTV or eighty percent loan to value. So if

0:25:55.040 --> 0:25:57.199
<v Speaker 5>the value of your home is four hundred thousand, the

0:25:57.240 --> 0:25:58.879
<v Speaker 5>bank's saying we'll give you eighty percent of that four

0:25:58.960 --> 0:26:02.480
<v Speaker 5>hundred thousand, which which is three sixty. So if you

0:26:02.520 --> 0:26:04.920
<v Speaker 5>owe two hundred and the bank's only going to loan

0:26:04.960 --> 0:26:07.159
<v Speaker 5>you eighty percent of your value, which is three sixty,

0:26:08.040 --> 0:26:12.440
<v Speaker 5>that means you really got one sixty inequity you can use, right,

0:26:12.480 --> 0:26:15.680
<v Speaker 5>so you don't get the full two hundred, right, same

0:26:15.720 --> 0:26:18.240
<v Speaker 5>thing with a helock, though the bank says, hey, we're

0:26:18.240 --> 0:26:20.439
<v Speaker 5>going to give you an eighty percent LTV on your helock,

0:26:20.720 --> 0:26:22.440
<v Speaker 5>then that means you get eighty percent of that four

0:26:22.520 --> 0:26:25.679
<v Speaker 5>hundred three sixty. But now we're not gonna reset your mortgage.

0:26:25.720 --> 0:26:27.520
<v Speaker 5>You still owe the same two hundred, but will give

0:26:27.520 --> 0:26:29.720
<v Speaker 5>you a credit line for the one sixty, and you

0:26:29.800 --> 0:26:31.840
<v Speaker 5>only pay on what you use that one sixty. Whenever

0:26:31.880 --> 0:26:33.479
<v Speaker 5>you use it. You could pay it back down, use

0:26:33.520 --> 0:26:35.439
<v Speaker 5>it again, pay it back down, use it again, and

0:26:35.480 --> 0:26:37.440
<v Speaker 5>you only pay on what you use. But it's only

0:26:37.480 --> 0:26:39.840
<v Speaker 5>based on the LTV of the house. You do not

0:26:39.880 --> 0:26:42.000
<v Speaker 5>get the full value of your equity unless a bank

0:26:42.080 --> 0:26:44.680
<v Speaker 5>is giving you one hundred percent LTV.

0:26:44.920 --> 0:26:48.919
<v Speaker 2>So all right, each person situation is different, but is

0:26:49.000 --> 0:26:50.679
<v Speaker 2>one better than the other in your opinion?

0:26:50.840 --> 0:26:58.840
<v Speaker 5>Or there's in a blanket statement, I would say the

0:26:58.920 --> 0:27:01.480
<v Speaker 5>helock is more preferred in a blanket statement. I don't

0:27:01.480 --> 0:27:03.320
<v Speaker 5>really like blanket statements because I believe, like what you

0:27:03.440 --> 0:27:05.399
<v Speaker 5>just said, every scenario is different, which is why I

0:27:05.480 --> 0:27:07.160
<v Speaker 5>believe in being an informed investor.

0:27:07.760 --> 0:27:09.679
<v Speaker 6>If you know how a refile works.

0:27:09.400 --> 0:27:11.080
<v Speaker 5>In a pros to cons and you know how a

0:27:11.080 --> 0:27:13.160
<v Speaker 5>helock works in the pros and cons, based on your

0:27:13.160 --> 0:27:16.760
<v Speaker 5>specific scenario in situation, you can choose what makes more sense.

0:27:17.280 --> 0:27:20.080
<v Speaker 5>For instance, you may only have been in your house

0:27:20.119 --> 0:27:23.040
<v Speaker 5>for a year and a half and now you can

0:27:23.080 --> 0:27:26.080
<v Speaker 5>get a refinance at a five and a half percent

0:27:26.200 --> 0:27:30.840
<v Speaker 5>rate of your equity at an eighty five LTV. You

0:27:30.880 --> 0:27:32.399
<v Speaker 5>go to the bank and you want a helock, they

0:27:32.400 --> 0:27:34.359
<v Speaker 5>may say, we'd only give you an eighty percent LTV,

0:27:34.400 --> 0:27:36.560
<v Speaker 5>which is less equity you tap into, and we're gonna

0:27:36.640 --> 0:27:38.920
<v Speaker 5>charge you a seven and a half percent rate. Being

0:27:38.960 --> 0:27:40.440
<v Speaker 5>that you've only been in your property for a year

0:27:40.440 --> 0:27:42.640
<v Speaker 5>and a half, you might want to take the refinance,

0:27:42.640 --> 0:27:46.400
<v Speaker 5>which is cheaper interest and more equity you can tap into,

0:27:46.640 --> 0:27:49.679
<v Speaker 5>and you're only restarting your mortgage by one year. So

0:27:49.720 --> 0:27:51.720
<v Speaker 5>depending on your scenario, when you're informed, you could make

0:27:51.720 --> 0:27:52.600
<v Speaker 5>strategic decisions.

0:27:52.960 --> 0:27:55.200
<v Speaker 7>Is it based So typically are the interest rate a

0:27:55.240 --> 0:27:57.679
<v Speaker 7>little higher on a helock or does it depend on

0:27:57.680 --> 0:27:58.240
<v Speaker 7>a scenario.

0:27:58.600 --> 0:28:00.840
<v Speaker 5>Yeah, most times you'll find it the he lock is

0:28:00.920 --> 0:28:04.400
<v Speaker 5>higher because it's a second mortgage. So what that means

0:28:04.480 --> 0:28:06.679
<v Speaker 5>we have a second mortgage is that if you were

0:28:06.720 --> 0:28:10.160
<v Speaker 5>to foreclosed or default on your loan, the first mortgage

0:28:10.160 --> 0:28:14.040
<v Speaker 5>gets paid first. The second mortgage only gets the leftovers.

0:28:14.560 --> 0:28:17.560
<v Speaker 5>So as a second mortgage lender, you take more risk

0:28:17.760 --> 0:28:20.920
<v Speaker 5>having a second because you may not get paid if

0:28:20.920 --> 0:28:23.320
<v Speaker 5>things go bad. So if I'm a lender, which I

0:28:23.320 --> 0:28:26.520
<v Speaker 5>am a private lender, If I'm a lender and you

0:28:26.600 --> 0:28:28.479
<v Speaker 5>want a second mortgage from me, I'm not gonna give

0:28:28.480 --> 0:28:30.680
<v Speaker 5>you the same rate as your first mortgage. I'm taking

0:28:30.720 --> 0:28:34.040
<v Speaker 5>more risk. So he locked can be and typically may

0:28:34.080 --> 0:28:38.080
<v Speaker 5>be more expensive than your first mortgage, refire or traditional lungs.

0:28:38.120 --> 0:28:41.360
<v Speaker 1>So you're a private lendings, I sure am hard money loans.

0:28:41.320 --> 0:28:45.080
<v Speaker 5>Hard money, soft money, creative financing, joint ventures, mezzanine financing,

0:28:45.120 --> 0:28:47.280
<v Speaker 5>gap financing, constructing funding, all that.

0:28:47.520 --> 0:28:50.880
<v Speaker 1>And that's commercial that. That's the Tulsa Fund.

0:28:50.920 --> 0:28:52.920
<v Speaker 5>That's what Tosa Real Estate Fund are. We are a

0:28:52.960 --> 0:28:56.000
<v Speaker 5>private lender and we are a development company. We're a

0:28:56.040 --> 0:28:57.040
<v Speaker 5>full blown investment company.

0:28:57.080 --> 0:28:58.360
<v Speaker 2>All right, So we'll talk about that in a sex

0:28:58.360 --> 0:29:00.720
<v Speaker 2>segment for sure. So what about segregation?

0:29:00.960 --> 0:29:06.920
<v Speaker 5>What's that? All right? So, coll segregation is a tax

0:29:06.960 --> 0:29:12.080
<v Speaker 5>strategy or tax vehicle you can use when as a

0:29:12.120 --> 0:29:16.640
<v Speaker 5>full time investor real estate investor, you can basically call

0:29:16.800 --> 0:29:20.920
<v Speaker 5>segregate means you can deduct the personal tangible property of

0:29:20.960 --> 0:29:21.480
<v Speaker 5>an asset.

0:29:21.520 --> 0:29:22.600
<v Speaker 6>So right now, we're in this.

0:29:22.600 --> 0:29:27.360
<v Speaker 5>Building, right the owners of this building can deduct anything

0:29:27.400 --> 0:29:29.520
<v Speaker 5>in this building they can take off with a screwdriver

0:29:29.680 --> 0:29:32.240
<v Speaker 5>and a hammer from their earned income. So if the

0:29:32.240 --> 0:29:34.440
<v Speaker 5>owners of this building were wealthy and they made you know,

0:29:34.480 --> 0:29:37.440
<v Speaker 5>they're making ten million dollars a year, but they own

0:29:37.520 --> 0:29:39.960
<v Speaker 5>this whole asset, and it's all these doors in here,

0:29:40.320 --> 0:29:46.280
<v Speaker 5>every single door, every knob, every stairwell, every hvac, everything,

0:29:46.600 --> 0:29:49.360
<v Speaker 5>every cabinet that they can take take off of a

0:29:49.400 --> 0:29:52.000
<v Speaker 5>screwdriver and hammer. They can take the value of that

0:29:52.320 --> 0:29:56.200
<v Speaker 5>and deduct it from their earned income, therefore reporting less

0:29:56.240 --> 0:30:01.320
<v Speaker 5>earned income, therefore paying less taxes and mitigating or minimizing

0:30:01.320 --> 0:30:02.160
<v Speaker 5>their tax exposure.

0:30:02.640 --> 0:30:04.160
<v Speaker 3>How about the acronym IRR.

0:30:05.080 --> 0:30:10.120
<v Speaker 5>Okay, IRR is internal rate of return. IRR is basically

0:30:10.200 --> 0:30:15.200
<v Speaker 5>an ROI, but calculating the importance significance of time in

0:30:15.240 --> 0:30:24.000
<v Speaker 5>an ROI. So if for instance, we invested in something

0:30:24.040 --> 0:30:27.320
<v Speaker 5>today and we flipped it this year, made thirty three percent,

0:30:28.280 --> 0:30:31.360
<v Speaker 5>that's thirty or even if we made thirty percent right

0:30:31.480 --> 0:30:34.520
<v Speaker 5>in one year. So ROI is annualized, right, So we

0:30:34.560 --> 0:30:37.280
<v Speaker 5>made thirty percent in one year. Let's say we made

0:30:37.320 --> 0:30:41.680
<v Speaker 5>fifteen thousand and six months. Fifteen thousand and six months

0:30:42.000 --> 0:30:44.840
<v Speaker 5>is equivalent to an IRR thirty thousand in one year.

0:30:44.920 --> 0:30:46.720
<v Speaker 5>It's saying if I were to do this again for

0:30:46.760 --> 0:30:49.920
<v Speaker 5>the same six months, right, will be thirty thousand duplicated. Right,

0:30:50.000 --> 0:30:51.960
<v Speaker 5>So now if you have thirty thousand in one year

0:30:52.200 --> 0:30:54.959
<v Speaker 5>as an ROI. But now let's say you made the

0:30:55.000 --> 0:30:57.280
<v Speaker 5>same money, but it took you two years to make

0:30:57.280 --> 0:31:00.480
<v Speaker 5>the same money, So now you're IRR over two years

0:31:00.520 --> 0:31:03.640
<v Speaker 5>would be fifteen percent, right, because now you're looking at

0:31:03.760 --> 0:31:05.960
<v Speaker 5>me thirty percent on one year. But now if I

0:31:06.000 --> 0:31:08.800
<v Speaker 5>break it up over two years, right, the ROI on

0:31:08.880 --> 0:31:12.120
<v Speaker 5>it considering time is now fifteen percent. Now if it's

0:31:12.160 --> 0:31:14.640
<v Speaker 5>three years, is broken up, and now you've made maybe

0:31:14.640 --> 0:31:17.320
<v Speaker 5>ten percent or whatever that number may be, right, Yeah,

0:31:17.360 --> 0:31:19.480
<v Speaker 5>and then et cetera, et cetera, et cetera. So there's

0:31:19.520 --> 0:31:21.360
<v Speaker 5>forms you can use on your calculator. I don't try

0:31:21.400 --> 0:31:23.160
<v Speaker 5>to do the math, you know myself in my head.

0:31:23.200 --> 0:31:26.000
<v Speaker 5>But what IRR does is it calculates your return on

0:31:26.120 --> 0:31:29.840
<v Speaker 5>investment considering the opportunity cost of your capital over time.

0:31:30.520 --> 0:31:32.520
<v Speaker 1>So all right, the next one.

0:31:32.320 --> 0:31:33.640
<v Speaker 6>And guess what, I never went to college.

0:31:34.280 --> 0:31:36.520
<v Speaker 2>The next one is for our pun Mike. He's not head,

0:31:36.560 --> 0:31:38.840
<v Speaker 2>but he always we talked about two or three K

0:31:38.880 --> 0:31:40.719
<v Speaker 2>loans a lot. He still doesn't understand what a two

0:31:40.720 --> 0:31:42.480
<v Speaker 2>of three K loan is. I try to explain it

0:31:42.520 --> 0:31:43.360
<v Speaker 2>to him, but maybe you could do.

0:31:43.320 --> 0:31:46.360
<v Speaker 1>A better job. You explain what a two of three

0:31:46.400 --> 0:31:47.000
<v Speaker 1>K loan is.

0:31:47.240 --> 0:31:50.440
<v Speaker 5>Sure, So a two of three K loan is a

0:31:50.480 --> 0:31:54.160
<v Speaker 5>renovation loan. It's a it's an FHA backed renovation loan

0:31:54.200 --> 0:31:56.200
<v Speaker 5>which allows you to typically put between three and three

0:31:56.240 --> 0:31:58.200
<v Speaker 5>and a half percent down on a property. But the

0:31:58.240 --> 0:32:01.400
<v Speaker 5>most important part is that they will cover the construction

0:32:01.640 --> 0:32:04.520
<v Speaker 5>costs or the building costs or build out costs of

0:32:04.560 --> 0:32:07.040
<v Speaker 5>your assets. So it means you're getting the acquisition money,

0:32:07.040 --> 0:32:10.160
<v Speaker 5>the purchase money, and you're getting their renovation or fixed

0:32:10.160 --> 0:32:14.040
<v Speaker 5>money the construction money. You're getting all that from your

0:32:14.160 --> 0:32:17.800
<v Speaker 5>lender and you're still using one down payment. You'll get

0:32:17.800 --> 0:32:20.880
<v Speaker 5>the money and what's called draws or installments. They want

0:32:20.880 --> 0:32:22.320
<v Speaker 5>to make sure you're not just blowing it and you're

0:32:22.360 --> 0:32:25.360
<v Speaker 5>doing the right construction. But fah.

0:32:26.720 --> 0:32:28.960
<v Speaker 7>This episode is brought to you by P and C Bank.

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<v Speaker 7>A lot of people think podcasts about work are boring,

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<v Speaker 9>An illegal alien from Guatemala charged with raping a child

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<v Speaker 9>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 9>accused of murdering a Texas. Man of Venezuelan charged with

0:34:28.920 --> 0:34:32.799
<v Speaker 9>filming and selling child pornography in Michigan. These are just

0:34:32.920 --> 0:34:36.680
<v Speaker 9>some of the heinous migrant criminals caught because of President

0:34:36.719 --> 0:34:40.239
<v Speaker 9>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:34:40.320 --> 0:34:45.080
<v Speaker 9>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:34:45.120 --> 0:34:48.680
<v Speaker 9>crossings are at the lowest levels ever recorded, and over

0:34:48.760 --> 0:34:51.960
<v Speaker 9>one hundred thousand illegal aliens have been arrested. If you

0:34:52.040 --> 0:34:55.880
<v Speaker 9>are here illegally, your next you will be fined nearly

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<v Speaker 9>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 9>never return. But if you register using our CBP home

0:35:03.719 --> 0:35:07.080
<v Speaker 9>app and leave now, you could be allowed to return legally.

0:35:07.480 --> 0:35:12.200
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0:35:12.360 --> 0:35:14.800
<v Speaker 9>border and families will be protected.

0:35:14.920 --> 0:35:17.319
<v Speaker 5>Sponsored by the United States Department of Homeland Security JAY

0:35:17.440 --> 0:35:20.640
<v Speaker 5>or your banks will cover up to ninety six and

0:35:20.680 --> 0:35:23.080
<v Speaker 5>a half percent or whatever their guidelines are of your

0:35:23.160 --> 0:35:25.799
<v Speaker 5>acquisition and the full rehab under a two or three

0:35:25.920 --> 0:35:28.000
<v Speaker 5>K loan, So you get to buy the property one

0:35:28.040 --> 0:35:30.360
<v Speaker 5>to four units, even one to four units with a

0:35:30.400 --> 0:35:33.040
<v Speaker 5>store attached. You can buy the asset and fix it

0:35:33.120 --> 0:35:35.120
<v Speaker 5>up all within one loan for as little as three

0:35:35.160 --> 0:35:36.560
<v Speaker 5>and a half or three percent down, and you have

0:35:36.600 --> 0:35:38.520
<v Speaker 5>to live with that property. It must be an owner,

0:35:38.560 --> 0:35:41.880
<v Speaker 5>It must be an owner occupied property. Owner occupied residents.

0:35:41.960 --> 0:35:43.839
<v Speaker 2>So when you're looking at a property, right you talk

0:35:43.880 --> 0:35:47.000
<v Speaker 2>about ROI. People hear about ROI a lot, Like, what

0:35:47.040 --> 0:35:47.560
<v Speaker 2>does that mean?

0:35:48.160 --> 0:35:53.320
<v Speaker 5>Means everything? ROI is the root of money, is a

0:35:53.440 --> 0:35:56.600
<v Speaker 5>root of investing. Think about it like you're an investor, or, entrepreneur,

0:35:56.680 --> 0:36:00.319
<v Speaker 5>a business owner, real estate entrepreneur. You're doing it to

0:36:00.320 --> 0:36:03.680
<v Speaker 5>to receive the little definition of an entrepreneur or a

0:36:03.719 --> 0:36:08.000
<v Speaker 5>real estate investor, the definition someone who who invest capital

0:36:08.080 --> 0:36:11.480
<v Speaker 5>and hopes to seek a profit. Right. So ROI really

0:36:12.120 --> 0:36:15.600
<v Speaker 5>it gives you the measurement tool to compare apples to

0:36:15.680 --> 0:36:18.600
<v Speaker 5>apples on your profits. So let me make it even simpler.

0:36:19.719 --> 0:36:22.640
<v Speaker 5>If you have ten thousand dollars, right, or one hundred thousand,

0:36:22.719 --> 0:36:26.960
<v Speaker 5>or a million or ten million. Either way, that money

0:36:26.960 --> 0:36:28.759
<v Speaker 5>has an opportunity costs. You could put that money a

0:36:28.880 --> 0:36:30.840
<v Speaker 5>bunch of different places. You can invest in a T

0:36:30.960 --> 0:36:33.120
<v Speaker 5>shirt line, you could invest in the podcast, you could

0:36:33.120 --> 0:36:34.960
<v Speaker 5>invest in the real estate, you can invest in the

0:36:35.280 --> 0:36:38.000
<v Speaker 5>uber or whatever you want to do. So your return

0:36:38.080 --> 0:36:40.120
<v Speaker 5>on that investment is going to allow you to see

0:36:40.280 --> 0:36:42.719
<v Speaker 5>what's the best use of my money or the best

0:36:42.800 --> 0:36:45.359
<v Speaker 5>use of the opportunity cost of my money. Right, So

0:36:45.400 --> 0:36:47.400
<v Speaker 5>your roy helps dictate that. So you can look at

0:36:47.400 --> 0:36:49.880
<v Speaker 5>your your capital and a checking account. Let's leave your

0:36:49.880 --> 0:36:52.000
<v Speaker 5>ten thousand dollars in a checking account. You're gonna get

0:36:52.040 --> 0:36:54.600
<v Speaker 5>point zero zero one percent. So you're gonna get like

0:36:54.840 --> 0:36:57.759
<v Speaker 5>a dollar on your your ten thousand dollars. Right, you

0:36:57.840 --> 0:37:00.000
<v Speaker 5>put that money in a four to one k or

0:36:59.840 --> 0:37:01.560
<v Speaker 5>or or a CD, you might get three percent on

0:37:01.600 --> 0:37:05.560
<v Speaker 5>your money or three hundred dollars on ten thousand. So

0:37:05.600 --> 0:37:07.640
<v Speaker 5>then you look at other instruments where you can invest

0:37:07.680 --> 0:37:09.680
<v Speaker 5>your money, and they're all WI is going to tell

0:37:09.719 --> 0:37:13.080
<v Speaker 5>you your ten thousand your capital park here makes you

0:37:13.160 --> 0:37:16.000
<v Speaker 5>this rate of return versus any other place a rate

0:37:16.000 --> 0:37:18.680
<v Speaker 5>of return. So the ROI really or your return and

0:37:18.760 --> 0:37:21.480
<v Speaker 5>investment is just an indicator based on how much you invested,

0:37:21.800 --> 0:37:24.719
<v Speaker 5>how much profit you made, what that rate is of

0:37:24.800 --> 0:37:27.120
<v Speaker 5>return on those profits in that investment.

0:37:27.320 --> 0:37:30.960
<v Speaker 1>So, like, how do you evaluate that for real estate? Property?

0:37:31.040 --> 0:37:31.120
<v Speaker 5>Right?

0:37:31.200 --> 0:37:33.680
<v Speaker 2>Because it's easy because I'm a financial advisor, right, so

0:37:33.840 --> 0:37:36.720
<v Speaker 2>I'm a little biased about stocks, but it's a different conversation.

0:37:36.360 --> 0:37:38.719
<v Speaker 5>But it's easy to look at its about real estate.

0:37:39.440 --> 0:37:41.279
<v Speaker 2>It's easy to look at a rate of return for

0:37:41.280 --> 0:37:42.799
<v Speaker 2>an investment because you can see what it did for

0:37:42.840 --> 0:37:45.719
<v Speaker 2>the last five, three ten since its inception. Right, real

0:37:45.840 --> 0:37:48.200
<v Speaker 2>takes a little bit more. It's a little tricky. So

0:37:48.920 --> 0:37:49.960
<v Speaker 2>how can.

0:37:49.800 --> 0:37:51.200
<v Speaker 5>You say realest is a little more easy?

0:37:51.520 --> 0:37:54.880
<v Speaker 2>All right, fit enough, But so how do you how

0:37:54.880 --> 0:37:56.880
<v Speaker 2>do you look at that and evaluate that from a

0:37:56.960 --> 0:37:59.080
<v Speaker 2>home to say, okay, this is just this rate of

0:37:59.120 --> 0:38:02.479
<v Speaker 2>return I effect to get fifteen percent in the next

0:38:02.480 --> 0:38:04.440
<v Speaker 2>three years. Like if you do that based off of

0:38:04.560 --> 0:38:07.680
<v Speaker 2>comps in the neighborhood, you do that based off of Yeah.

0:38:07.520 --> 0:38:08.080
<v Speaker 1>How do you do that?

0:38:08.360 --> 0:38:11.360
<v Speaker 5>Well, it depends if you're purchasing as an owner occupied

0:38:11.400 --> 0:38:11.960
<v Speaker 5>home buyer.

0:38:12.200 --> 0:38:15.719
<v Speaker 6>Right, I don't necessarily look at my ROI.

0:38:15.560 --> 0:38:17.839
<v Speaker 5>From a perspective of us as a home buyer, Right,

0:38:18.000 --> 0:38:20.160
<v Speaker 5>I look at I still look the opportunity to cost

0:38:20.160 --> 0:38:21.920
<v Speaker 5>the money. I say, okay, if I got to put

0:38:21.920 --> 0:38:23.680
<v Speaker 5>three and a half percent or three percent down on

0:38:23.719 --> 0:38:25.560
<v Speaker 5>his home, or if you're twenty percent down on his home, right,

0:38:25.560 --> 0:38:27.440
<v Speaker 5>So still the opportunity cost my money. So say I

0:38:27.440 --> 0:38:29.200
<v Speaker 5>want to buy three hundred thousand dollars home and the

0:38:29.239 --> 0:38:31.040
<v Speaker 5>bank says, okay, you got to put ten percent down.

0:38:31.160 --> 0:38:33.040
<v Speaker 5>So I know I got put thirty thousand down to

0:38:33.080 --> 0:38:35.160
<v Speaker 5>buy this home, right, or it could be three percent down,

0:38:35.160 --> 0:38:37.160
<v Speaker 5>I gotta put nine grand down to buy this home.

0:38:37.600 --> 0:38:39.000
<v Speaker 6>So now I'm looking at, well, what else would I

0:38:39.040 --> 0:38:39.719
<v Speaker 6>do with my nine grand?

0:38:39.800 --> 0:38:40.080
<v Speaker 5>What else?

0:38:40.160 --> 0:38:41.799
<v Speaker 6>What do I do with my thirty grand?

0:38:42.000 --> 0:38:45.160
<v Speaker 5>So from a from a home perspective, I know that

0:38:45.200 --> 0:38:47.520
<v Speaker 5>by mee owning this property, and it could be a

0:38:47.600 --> 0:38:49.960
<v Speaker 5>duplex or a multi family where I can live for

0:38:49.960 --> 0:38:52.080
<v Speaker 5>free and rent the other units out. But even if

0:38:52.120 --> 0:38:53.839
<v Speaker 5>I'm not renting the other units out and living for free,

0:38:53.880 --> 0:38:56.080
<v Speaker 5>by living in a single family or townhouse or condo,

0:38:56.800 --> 0:38:59.959
<v Speaker 5>I'm gonna live somewhere anyway. I'm gonna be paying rent

0:39:00.480 --> 0:39:03.759
<v Speaker 5>to somebody somewhere to have aof over my head. So

0:39:03.840 --> 0:39:06.960
<v Speaker 5>if I can be paying myself and paying a mortgage

0:39:07.160 --> 0:39:09.600
<v Speaker 5>with this ten thousand down or this thirty thousand down,

0:39:09.719 --> 0:39:11.839
<v Speaker 5>nine thousand down, thirty thousand down, but then I get

0:39:11.880 --> 0:39:14.719
<v Speaker 5>the future appreciation and equity from the home. And then

0:39:14.719 --> 0:39:17.200
<v Speaker 5>I'm getting the tax advantages from owning the home, from

0:39:17.239 --> 0:39:19.800
<v Speaker 5>the interest on the mortgage to the depreciation of the building,

0:39:20.080 --> 0:39:22.520
<v Speaker 5>the closing costs on the asset. Then I got the

0:39:22.520 --> 0:39:25.000
<v Speaker 5>power control of the asset. Right again, not to mention

0:39:25.080 --> 0:39:26.840
<v Speaker 5>for the multi fiani that I'm getting cash flow, I

0:39:26.880 --> 0:39:30.279
<v Speaker 5>consider all those advantages as to well, what else would

0:39:30.280 --> 0:39:32.080
<v Speaker 5>I have done with that ten thousand dollars. So if

0:39:32.080 --> 0:39:34.439
<v Speaker 5>that ten thousand dollars, just say in the stock market,

0:39:34.480 --> 0:39:36.399
<v Speaker 5>would have gave me seven percent, then I'm know I'm

0:39:36.400 --> 0:39:38.960
<v Speaker 5>making seven hundred dollars a year on that ten thousand

0:39:39.000 --> 0:39:42.319
<v Speaker 5>dollars plus compounding interest, of course, but essentially to say

0:39:42.320 --> 0:39:44.280
<v Speaker 5>seven hundred thous dollars a year on my ten thousand,

0:39:44.640 --> 0:39:48.239
<v Speaker 5>that same ten thousand could have been in my house gaining.

0:39:47.920 --> 0:39:50.200
<v Speaker 6>Me appreciation and equity over the years.

0:39:50.320 --> 0:39:52.920
<v Speaker 5>So now let's say in a ten year period, so

0:39:52.920 --> 0:39:54.359
<v Speaker 5>you put money in a stock out of ten year

0:39:54.400 --> 0:39:56.279
<v Speaker 5>period and you got seven hundred a year, or say

0:39:56.280 --> 0:39:58.680
<v Speaker 5>seven thousand. Let's say with compound the interest, you now

0:39:58.680 --> 0:40:00.880
<v Speaker 5>got ten thousand, put ten ten thousand in the stock,

0:40:01.080 --> 0:40:03.240
<v Speaker 5>and in ten years you got ten thousand dollars ROI

0:40:03.480 --> 0:40:06.440
<v Speaker 5>on that asset. Now you put ten thousand down on

0:40:06.480 --> 0:40:10.799
<v Speaker 5>your residential property, and over that same ten years, your

0:40:10.880 --> 0:40:14.440
<v Speaker 5>asset went up in value seventy thousand dollars, fifty thousand dollars,

0:40:14.600 --> 0:40:17.160
<v Speaker 5>thirty thousand dollars, right just by living there and doing

0:40:17.160 --> 0:40:20.120
<v Speaker 5>something we're gonna do anyway. So Therefore, to me, just

0:40:20.160 --> 0:40:22.279
<v Speaker 5>from a homeowner perspective, it makes better sense, plus the

0:40:22.280 --> 0:40:24.640
<v Speaker 5>tax advantages you receive during that time, because you could

0:40:24.640 --> 0:40:26.600
<v Speaker 5>appreciate twenty seven and a half percent of the asset

0:40:26.960 --> 0:40:30.680
<v Speaker 5>over the years, plus the other benefits I gave you.

0:40:30.880 --> 0:40:32.880
<v Speaker 5>So I look at that, and that's just a homeowner perspective,

0:40:32.880 --> 0:40:35.560
<v Speaker 5>which is not even the best example. From an investor perspective,

0:40:35.840 --> 0:40:39.560
<v Speaker 5>I'm looking at the future market value or the COMPS

0:40:39.640 --> 0:40:41.719
<v Speaker 5>or the ARV if it's a fix and flip, or

0:40:41.760 --> 0:40:44.000
<v Speaker 5>I'm looking at the cat prate, which is the basically

0:40:44.000 --> 0:40:47.000
<v Speaker 5>the ROI of the rental income from the unit and

0:40:47.040 --> 0:40:49.520
<v Speaker 5>those tax advantages at the same time. So for an investor,

0:40:49.760 --> 0:40:52.080
<v Speaker 5>you got the benefits of cash flow, which is rental income,

0:40:52.080 --> 0:40:56.239
<v Speaker 5>passive income, mailbox money. You have the benefits of appreciation

0:40:56.320 --> 0:40:58.239
<v Speaker 5>and equity as you just live there or rent it

0:40:58.239 --> 0:41:00.000
<v Speaker 5>out and it probably goes up in value over time.

0:41:00.560 --> 0:41:03.440
<v Speaker 5>You got the opportunities for all the tax benefits, and

0:41:03.440 --> 0:41:05.799
<v Speaker 5>as an investor, you get more tax benefits than you

0:41:05.840 --> 0:41:08.840
<v Speaker 5>do as a homeowner, so you could you could appreciate

0:41:08.920 --> 0:41:11.040
<v Speaker 5>not only the interest on the mortgage, the maintenance on

0:41:11.080 --> 0:41:13.440
<v Speaker 5>the property, the cast segregation on the property and all

0:41:13.480 --> 0:41:15.719
<v Speaker 5>these things. So now you're getting bigger bang for your

0:41:15.719 --> 0:41:18.759
<v Speaker 5>buck as an investor because you have so many financial

0:41:18.760 --> 0:41:20.799
<v Speaker 5>benefits from owning an asset. And that's not to mention.

0:41:20.840 --> 0:41:23.239
<v Speaker 5>If you get into the space of seventy five units

0:41:23.280 --> 0:41:25.640
<v Speaker 5>and more, twenty units and more, and the multi family apartments,

0:41:25.760 --> 0:41:29.040
<v Speaker 5>now you got more cost segregation, more doors, more rental income,

0:41:29.239 --> 0:41:31.879
<v Speaker 5>more cash flow, more tax appreciation, all for the same

0:41:31.880 --> 0:41:33.120
<v Speaker 5>investment you would have put somewhere else.

0:41:33.320 --> 0:41:35.799
<v Speaker 7>Another thing that we've spoken about and people still are

0:41:35.800 --> 0:41:38.040
<v Speaker 7>not quite clear on, and now that we're in Atlanta,

0:41:38.080 --> 0:41:40.279
<v Speaker 7>I remember the first time hearing about opportunity zones. I

0:41:40.280 --> 0:41:42.880
<v Speaker 7>saw Tia talking about them, Yeah, and shout out the tip,

0:41:42.880 --> 0:41:45.480
<v Speaker 7>shout out the king ten. So we started the researching

0:41:45.520 --> 0:41:47.000
<v Speaker 7>it and get a better information on it.

0:41:47.320 --> 0:41:48.239
<v Speaker 3>Can you explain that to.

0:41:48.160 --> 0:41:50.879
<v Speaker 7>Thoden's like, how that works and how capital gains tax

0:41:51.440 --> 0:41:52.239
<v Speaker 7>plays a part in it.

0:41:52.680 --> 0:41:57.759
<v Speaker 5>This sure, opportunity zones is really the biggest transfer of

0:41:57.800 --> 0:42:02.120
<v Speaker 5>family wealth that will happen in our lifetime. It happens,

0:42:02.200 --> 0:42:05.600
<v Speaker 5>it's a great depression. Opportunity zones is literally set up

0:42:05.600 --> 0:42:08.280
<v Speaker 5>to use the urban community as a decoy to allow

0:42:08.320 --> 0:42:10.560
<v Speaker 5>wealthy folks to roll their money over to the next generation.

0:42:11.239 --> 0:42:14.200
<v Speaker 5>So what happens to opportunity zones is there's over eight

0:42:14.239 --> 0:42:17.600
<v Speaker 5>thousand opportunities on tracks all throughout the country. These are

0:42:17.600 --> 0:42:20.839
<v Speaker 5>mostly urban areas, some rural areas, blighted areas that they

0:42:20.840 --> 0:42:24.239
<v Speaker 5>say need investment dollars. And so what they're allowing the

0:42:24.320 --> 0:42:27.080
<v Speaker 5>wealthy to do when those who have capital gains either

0:42:27.120 --> 0:42:29.920
<v Speaker 5>from their businesses, from their stock portfolios, or from their

0:42:29.960 --> 0:42:33.759
<v Speaker 5>real estate assets. As people realize capital gains or liquidate

0:42:33.760 --> 0:42:36.799
<v Speaker 5>their portfolios to receive capital gains, they can roll their

0:42:36.800 --> 0:42:39.040
<v Speaker 5>capital gains over right, the capital gains which will be

0:42:39.080 --> 0:42:40.759
<v Speaker 5>taxable income. They will have to pay like a thirty

0:42:40.760 --> 0:42:43.040
<v Speaker 5>percent or whatever percent tax rate on the capital gains.

0:42:43.520 --> 0:42:45.880
<v Speaker 5>So that the government is allowing them, through this legislation

0:42:46.320 --> 0:42:49.480
<v Speaker 5>to roll their capital gains over into an opportunity zone

0:42:49.520 --> 0:42:52.879
<v Speaker 5>through Opportunity Zone Fund into a qualified Opportunities on track

0:42:53.160 --> 0:42:55.400
<v Speaker 5>and if they invest that money there, they will get

0:42:55.400 --> 0:42:59.399
<v Speaker 5>a ten percent discount or tax coupon on that capital gain.

0:42:59.480 --> 0:43:01.440
<v Speaker 5>So if capital gains was one hundred thousand and I

0:43:01.520 --> 0:43:04.040
<v Speaker 5>rolled all over to opportunity zone, that means now my

0:43:04.120 --> 0:43:07.560
<v Speaker 5>capital gains a taxable income is ninety thousand for the

0:43:07.600 --> 0:43:09.719
<v Speaker 5>first five years. Then if they keep it there for

0:43:09.760 --> 0:43:12.319
<v Speaker 5>an additional two years or seven years total, they get

0:43:12.320 --> 0:43:15.440
<v Speaker 5>another five percent tax coupon. So now my taxable income

0:43:15.520 --> 0:43:17.719
<v Speaker 5>is eighty five thousand. So now instead of paying Uncle

0:43:17.719 --> 0:43:20.000
<v Speaker 5>Sam thirty grand on one hundred thousand, I'm now paying

0:43:20.080 --> 0:43:22.279
<v Speaker 5>Uncle Sam thirty percent on my eighty five thousand or

0:43:22.320 --> 0:43:25.319
<v Speaker 5>like twenty four grand right on my taxable income. Then

0:43:25.360 --> 0:43:29.080
<v Speaker 5>the other benefit is if I leave that capital gains

0:43:29.120 --> 0:43:33.640
<v Speaker 5>investment into that asset for ten years or more, any

0:43:33.840 --> 0:43:37.759
<v Speaker 5>future capital gains or profits made from that asset, I

0:43:37.800 --> 0:43:41.760
<v Speaker 5>can completely defer all the taxable income on that asset

0:43:42.120 --> 0:43:44.399
<v Speaker 5>moving forward, so I can roll over my capital gains,

0:43:44.400 --> 0:43:47.400
<v Speaker 5>get a discount on my original investment of fifteen percent

0:43:47.600 --> 0:43:50.560
<v Speaker 5>after seven years, and then any future capital gains from

0:43:50.600 --> 0:43:52.840
<v Speaker 5>the asset that I put into the opportunity zone. So

0:43:53.080 --> 0:43:55.480
<v Speaker 5>I can take my capital gains, go into the hood,

0:43:55.600 --> 0:43:58.759
<v Speaker 5>build a whole new strip, mall, whole new skyscraper, whole

0:43:58.760 --> 0:44:01.800
<v Speaker 5>new hotel, lose something that don't even help this community

0:44:01.840 --> 0:44:04.560
<v Speaker 5>at all, and gentrify it, and then be able to

0:44:04.640 --> 0:44:07.120
<v Speaker 5>roll all the profits of that asset over in ten years,

0:44:07.120 --> 0:44:08.680
<v Speaker 5>sell it off to the market at a higher cap

0:44:08.760 --> 0:44:11.160
<v Speaker 5>rate or lower cap rate, more profit and be able

0:44:11.200 --> 0:44:13.480
<v Speaker 5>to take all that money out totally tax free. That's

0:44:13.520 --> 0:44:14.480
<v Speaker 5>what opportunity zones is.

0:44:14.480 --> 0:44:16.000
<v Speaker 2>And in order to invest an Opportunities one, you have

0:44:16.000 --> 0:44:17.600
<v Speaker 2>to be the Opportunities on Fund, right, correct?

0:44:17.680 --> 0:44:21.640
<v Speaker 5>Yes, I believe it's eighty nine eight ninety sixty form

0:44:21.840 --> 0:44:23.439
<v Speaker 5>through the IRS to be Opportunities Fund.

0:44:23.520 --> 0:44:25.239
<v Speaker 7>One of the toughest parts is that a lot of us,

0:44:25.320 --> 0:44:27.439
<v Speaker 7>especially in our communities, we don't have capital gains.

0:44:27.440 --> 0:44:32.640
<v Speaker 3>We don't even know what for us, but it's for

0:44:32.719 --> 0:44:34.640
<v Speaker 3>us though us like they don't know.

0:44:35.880 --> 0:44:37.840
<v Speaker 5>I think it would have been more advantageous to have a

0:44:39.040 --> 0:44:42.520
<v Speaker 5>financial or tax designation that actually service the people that

0:44:42.560 --> 0:44:44.359
<v Speaker 5>are in that community and the kind of money they

0:44:44.400 --> 0:44:47.399
<v Speaker 5>receive and help the working class rule their capital over

0:44:47.640 --> 0:44:49.560
<v Speaker 5>into those kind of funds and receive those benefits.

0:44:50.120 --> 0:44:52.480
<v Speaker 1>So all right, corporate there, what's that.

0:44:52.760 --> 0:45:02.399
<v Speaker 5>Y'all want everything? Yeah? Corporate veil is your your your

0:45:02.680 --> 0:45:05.000
<v Speaker 5>LLC or or your your corporate structure and the way

0:45:05.000 --> 0:45:08.640
<v Speaker 5>you protect yourself and your assets. It's the way in

0:45:08.680 --> 0:45:13.560
<v Speaker 5>which you protect yourself from and really it's it's asset protection.

0:45:13.640 --> 0:45:15.160
<v Speaker 5>Long story short, it's the way you set up your

0:45:15.239 --> 0:45:17.879
<v Speaker 5>entities in a way that you have the best tax

0:45:17.880 --> 0:45:20.239
<v Speaker 5>advantage from your entities, the best liability protect from your

0:45:20.360 --> 0:45:23.359
<v Speaker 5>entity and entities. And it's just the way that you know,

0:45:23.440 --> 0:45:26.560
<v Speaker 5>a sophisticated investor or entrepreneurs should be setting up their company.

0:45:27.200 --> 0:45:31.080
<v Speaker 2>All right, well you passed the test with flying it was.

0:45:31.560 --> 0:45:33.560
<v Speaker 2>We didn't give them free notice though about what the

0:45:33.640 --> 0:45:38.320
<v Speaker 2>questions is. But when you know, you know in real life,

0:45:38.400 --> 0:45:40.520
<v Speaker 2>fast the test with flying colors. On the next segment,

0:45:40.520 --> 0:45:42.279
<v Speaker 2>we're going to go into the Tulsa real Estate Fund.

0:45:42.280 --> 0:45:44.439
<v Speaker 2>We're going to explain that in detail and talk about

0:45:44.440 --> 0:45:44.840
<v Speaker 2>everything that.

0:45:45.040 --> 0:45:49.279
<v Speaker 5>You have real estate fund, let's be clear fact, so.

0:45:49.280 --> 0:45:52.560
<v Speaker 2>You have the real estate crowd fund, right, so it's

0:45:52.560 --> 0:45:54.440
<v Speaker 2>a little different. It's a different way to invest in

0:45:54.440 --> 0:45:56.600
<v Speaker 2>real estate as opposed to just a person just doing

0:45:56.600 --> 0:45:58.560
<v Speaker 2>it on their own right, So what is it real

0:45:58.640 --> 0:46:00.560
<v Speaker 2>estate crowdfund?

0:46:00.600 --> 0:46:01.480
<v Speaker 1>What's the details of that.

0:46:02.480 --> 0:46:08.000
<v Speaker 5>Well, our particular fund, the opportunity is for non accredited investors,

0:46:08.080 --> 0:46:10.239
<v Speaker 5>meaning those who have a networth less than a million

0:46:10.320 --> 0:46:12.319
<v Speaker 5>dollars or make less than a quarter million a year.

0:46:13.080 --> 0:46:16.720
<v Speaker 5>For non accredit investors or credited investors and institutions, family

0:46:16.760 --> 0:46:20.280
<v Speaker 5>offices and all kinds of capital. Partners can all invest

0:46:20.280 --> 0:46:23.600
<v Speaker 5>in one vehicle, our non accredit investors and just all investors.

0:46:23.600 --> 0:46:26.600
<v Speaker 5>Our minimal investment is five hundred dollars, and you will

0:46:26.640 --> 0:46:29.560
<v Speaker 5>be equity owner in our company and own shares of

0:46:29.560 --> 0:46:32.879
<v Speaker 5>our entire portfolio, which currently consists of an opportunity zone

0:46:33.200 --> 0:46:36.000
<v Speaker 5>property in East Point, Georgia, five minutes from the airport

0:46:36.080 --> 0:46:38.920
<v Speaker 5>called the Legacy Center, two point six acre campus over

0:46:39.000 --> 0:46:42.200
<v Speaker 5>thirty thousand square feet, which would be a coworking space,

0:46:43.000 --> 0:46:47.879
<v Speaker 5>a financial empowerment center and training center, entrepreneur training center,

0:46:48.160 --> 0:46:50.920
<v Speaker 5>as well as ninety eight unit apartment complex and Making Georgia,

0:46:51.000 --> 0:46:52.759
<v Speaker 5>as well as twenty eight units of student housing we're

0:46:52.760 --> 0:46:58.080
<v Speaker 5>developing here and at the AUC where the historically black

0:46:58.120 --> 0:47:00.920
<v Speaker 5>colleges are Clark, Spelman and Morehouse, as well as other

0:47:00.960 --> 0:47:03.480
<v Speaker 5>fourteen unit seven units and multiple other investments that we've

0:47:03.480 --> 0:47:06.839
<v Speaker 5>either funded or partake in as as investors and developers

0:47:07.040 --> 0:47:10.080
<v Speaker 5>through the fund. So for a five hundred dollars minimum investment,

0:47:10.520 --> 0:47:12.840
<v Speaker 5>you get your approbated share of equity in our company,

0:47:12.960 --> 0:47:16.520
<v Speaker 5>You get an eight percent preferred return that's annual and

0:47:16.520 --> 0:47:19.600
<v Speaker 5>that's cumulating annually, and you get your share of fifty

0:47:19.600 --> 0:47:23.200
<v Speaker 5>percents of the profits that are fun you know, projects

0:47:23.239 --> 0:47:25.440
<v Speaker 5>to bring in over the course of our portfolio and

0:47:25.480 --> 0:47:26.040
<v Speaker 5>our performance.

0:47:26.200 --> 0:47:29.760
<v Speaker 7>Now the President Obama had the is it the project

0:47:29.800 --> 0:47:31.520
<v Speaker 7>rebuilt for He's the man?

0:47:31.920 --> 0:47:33.759
<v Speaker 3>Was the idea for the TOSA Fund?

0:47:35.080 --> 0:47:37.000
<v Speaker 7>Was it birth at that point or was it something

0:47:37.000 --> 0:47:38.920
<v Speaker 7>that you had envision prior to it.

0:47:39.280 --> 0:47:41.520
<v Speaker 5>Yeah. Back in our early mortgage days in like two

0:47:41.600 --> 0:47:45.200
<v Speaker 5>thousand and seven, eight nine, I would flick through the

0:47:45.360 --> 0:47:47.960
<v Speaker 5>MLS and different you know listing systems. I would see

0:47:47.960 --> 0:47:49.920
<v Speaker 5>hotels and hospitals, and I would think about it. I

0:47:49.920 --> 0:47:51.680
<v Speaker 5>always had this vision to bridge the gap between real

0:47:51.760 --> 0:47:53.120
<v Speaker 5>estate and pop culture, Like I always want to put

0:47:53.120 --> 0:47:55.120
<v Speaker 5>the whole community on that. Once I got on, I

0:47:55.200 --> 0:47:57.120
<v Speaker 5>wanted to put the whole hood on, you know, in

0:47:57.160 --> 0:47:59.440
<v Speaker 5>real estate. And so when I would see these large assets,

0:47:59.800 --> 0:48:01.799
<v Speaker 5>I always think like, Yo, what if we could bust

0:48:01.880 --> 0:48:03.600
<v Speaker 5>these down? What if we can chip in and go

0:48:03.680 --> 0:48:06.120
<v Speaker 5>in on these assets? And there was no vehicle to

0:48:06.200 --> 0:48:09.280
<v Speaker 5>do that at that time. And so after the Freddy

0:48:09.320 --> 0:48:12.600
<v Speaker 5>Gray uprising in Baltimore in twenty fifteen, I was at

0:48:12.640 --> 0:48:16.400
<v Speaker 5>a panel that beet bust up, bustloads of bloods and crips,

0:48:16.400 --> 0:48:19.319
<v Speaker 5>from ground zero where the CVS is burned down in

0:48:19.360 --> 0:48:22.400
<v Speaker 5>Baltimore after the Freddie Gray uprising, and they I was

0:48:22.440 --> 0:48:24.600
<v Speaker 5>part of that panel with timmyk and Mallory Mark, Lamont

0:48:24.640 --> 0:48:26.719
<v Speaker 5>Hill and others, and they were asking like, what's the

0:48:26.760 --> 0:48:30.440
<v Speaker 5>solutions for our community, and one of the bloods or

0:48:30.480 --> 0:48:34.200
<v Speaker 5>crips or Baltimore, you know, crowd members yelled from the stands,

0:48:34.360 --> 0:48:36.920
<v Speaker 5>we need to build a black wall street, yo. And

0:48:37.000 --> 0:48:39.560
<v Speaker 5>so I'm like, okay, if you think the community needs

0:48:39.600 --> 0:48:43.600
<v Speaker 5>a black wall street or economic you know, kind of stronghold,

0:48:44.000 --> 0:48:45.560
<v Speaker 5>I raised my hand and I was like, Okay, that's

0:48:45.560 --> 0:48:47.080
<v Speaker 5>on my watch. Whoever want to build a black wall

0:48:47.120 --> 0:48:50.400
<v Speaker 5>street beat me after this twenty fifteen and so I

0:48:50.440 --> 0:48:52.759
<v Speaker 5>built with them. I went down to Baltimore, got on

0:48:52.800 --> 0:48:54.759
<v Speaker 5>the ground talking to them, seeing what the problems are

0:48:54.760 --> 0:48:57.439
<v Speaker 5>in the community. And I thought about it, like, well,

0:48:57.440 --> 0:48:59.160
<v Speaker 5>what does a black wall street look like? And for

0:48:59.200 --> 0:49:02.439
<v Speaker 5>those not familiar, black wall street was. There's many black

0:49:02.480 --> 0:49:04.920
<v Speaker 5>wall streets throughout America. One of the most notable was

0:49:04.920 --> 0:49:08.560
<v Speaker 5>the black wall Street of in Tulsa, Oklahoma called Greenwood,

0:49:09.080 --> 0:49:11.040
<v Speaker 5>where it was thirty six square blocks ore were two

0:49:11.080 --> 0:49:13.960
<v Speaker 5>thousand homes and businesses that were burned down or were

0:49:13.960 --> 0:49:17.880
<v Speaker 5>built up in less than twenty years and burned down

0:49:18.160 --> 0:49:20.720
<v Speaker 5>in nineteen twenty one in one day on June first,

0:49:21.280 --> 0:49:22.840
<v Speaker 5>and so I was like, well, we're gonna build a

0:49:22.880 --> 0:49:27.160
<v Speaker 5>sustaining community or be able to impact our communities. It's

0:49:27.200 --> 0:49:30.239
<v Speaker 5>cool to hashtaglock black Wall Street and group economics and

0:49:30.280 --> 0:49:33.200
<v Speaker 5>say it, but what does it look like in real life? Right? Yeah?

0:49:33.200 --> 0:49:36.320
<v Speaker 5>How do you actually bring it to fruition? What's the

0:49:36.400 --> 0:49:38.960
<v Speaker 5>economic vehicle that allows us to pull our dollars together

0:49:39.000 --> 0:49:41.200
<v Speaker 5>to build a Black Wall Street? And so that's when

0:49:41.200 --> 0:49:44.040
<v Speaker 5>I started the research then, and through that research we

0:49:44.080 --> 0:49:46.440
<v Speaker 5>didn uncover the Jobs Act, which was just in past.

0:49:46.920 --> 0:49:49.000
<v Speaker 5>And I thought back to my old mortgage days about

0:49:49.000 --> 0:49:51.880
<v Speaker 5>what I knew about financing and lending and investing in

0:49:51.880 --> 0:49:54.240
<v Speaker 5>all those things. And so anyway, we went through the research.

0:49:54.320 --> 0:49:57.440
<v Speaker 5>In over four years of due diligence and research and development,

0:49:58.280 --> 0:50:00.839
<v Speaker 5>we put ourselves in position to ipo on June first,

0:50:00.880 --> 0:50:03.279
<v Speaker 5>the anniversary of the Black Wall Street bombing. On June

0:50:03.280 --> 0:50:06.640
<v Speaker 5>first and twenty eighteen, we ipo this fund to the

0:50:06.680 --> 0:50:10.080
<v Speaker 5>tune of you know, over I think a millionaire or

0:50:10.200 --> 0:50:12.760
<v Speaker 5>nearly nearly two million dollars raised our first twenty four hours,

0:50:12.800 --> 0:50:15.080
<v Speaker 5>our website crash three times the first day. I was

0:50:15.120 --> 0:50:18.120
<v Speaker 5>so pissed. But you know, so many hits on our

0:50:18.120 --> 0:50:21.320
<v Speaker 5>website and so much as national attention, and we've raised

0:50:21.400 --> 0:50:25.279
<v Speaker 5>you know, several million dollars to date and have built

0:50:25.280 --> 0:50:27.560
<v Speaker 5>a multimillion dollar portfolio just with the first round of

0:50:27.560 --> 0:50:30.040
<v Speaker 5>our fund in our first year as the you know,

0:50:30.160 --> 0:50:32.080
<v Speaker 5>historic total real estate fund, the first black owned real

0:50:32.160 --> 0:50:33.160
<v Speaker 5>estate for out fund history.

0:50:33.200 --> 0:50:35.360
<v Speaker 2>So how does that work as far as because we

0:50:35.360 --> 0:50:37.640
<v Speaker 2>talked about the tech fund and he had you have

0:50:37.760 --> 0:50:40.040
<v Speaker 2>to like wait a couple of years. So each, I

0:50:40.080 --> 0:50:42.160
<v Speaker 2>guess company is different. Like for your company, it's like

0:50:42.160 --> 0:50:44.200
<v Speaker 2>you have to wait one year before you can start

0:50:44.239 --> 0:50:45.520
<v Speaker 2>to receive money from it.

0:50:45.640 --> 0:50:48.640
<v Speaker 5>So you one one year lock up until you're eligible

0:50:48.719 --> 0:50:52.480
<v Speaker 5>to receive your quarterly dividends. But we cannot pay dividends

0:50:52.560 --> 0:50:55.640
<v Speaker 5>until the fund is profitab profitable. So if we're developing

0:50:55.680 --> 0:50:58.399
<v Speaker 5>assets that take two and three years to develop, then

0:50:58.440 --> 0:51:00.200
<v Speaker 5>you obviously have to wait for the develop and of

0:51:00.239 --> 0:51:02.680
<v Speaker 5>those assets and stabilization of those assets, the rents, the

0:51:02.880 --> 0:51:06.000
<v Speaker 5>you know, equity to refod all that to become profitable.

0:51:06.040 --> 0:51:07.120
<v Speaker 1>So it's a long term play.

0:51:07.200 --> 0:51:09.680
<v Speaker 5>It's a long term place. It's legacy fund right, and

0:51:09.760 --> 0:51:15.200
<v Speaker 5>so that's what we are really campaigning for, getting everyone

0:51:15.200 --> 0:51:17.000
<v Speaker 5>to understand. If you want to fix and flip a

0:51:17.040 --> 0:51:19.200
<v Speaker 5>home and make quick money or wholesale real estate with

0:51:19.200 --> 0:51:21.120
<v Speaker 5>no cash or credit, cool, come to Jay Morrison Academy

0:51:21.120 --> 0:51:22.879
<v Speaker 5>will teach you that you can do that in your

0:51:23.000 --> 0:51:25.759
<v Speaker 5>everyday life. But if you want to chip in as

0:51:25.760 --> 0:51:29.520
<v Speaker 5>a collective, something that confits within your budget, where we

0:51:29.600 --> 0:51:32.200
<v Speaker 5>all can chip in to empower our own communities and

0:51:32.239 --> 0:51:34.800
<v Speaker 5>fund our own projects and fund our own deals without

0:51:34.800 --> 0:51:37.160
<v Speaker 5>going to anyone else for help, going to anyone else's table.

0:51:37.360 --> 0:51:38.120
<v Speaker 5>That's what this is.

0:51:38.320 --> 0:51:42.239
<v Speaker 3>So that's the whole period. It varies based on the

0:51:42.280 --> 0:51:43.680
<v Speaker 3>asset or how's that work.

0:51:43.640 --> 0:51:46.280
<v Speaker 5>On the whole portfolio, right, So like say, for instance,

0:51:46.280 --> 0:51:48.360
<v Speaker 5>we're building a legacy center, which takes is about a

0:51:48.440 --> 0:51:50.560
<v Speaker 5>year and a half you know, development or whatever the

0:51:50.560 --> 0:51:53.600
<v Speaker 5>case is, okay, But we have other fix and flips

0:51:53.640 --> 0:51:56.840
<v Speaker 5>we funded that are instantly giving us mortgage money points

0:51:56.880 --> 0:51:59.920
<v Speaker 5>revenue right now, and then we might build up whatever late.

0:52:00.160 --> 0:52:01.000
<v Speaker 6>So it's a balance of.

0:52:00.920 --> 0:52:03.879
<v Speaker 5>The whole portfolio that we have. So some assets are

0:52:03.880 --> 0:52:06.560
<v Speaker 5>instantly making money and some assets are long term investments.

0:52:06.680 --> 0:52:09.160
<v Speaker 5>But overall, once the whole fund is profitable, you didn't

0:52:09.160 --> 0:52:11.879
<v Speaker 5>get paid out. You're accumulating eight percent over every year,

0:52:12.239 --> 0:52:14.360
<v Speaker 5>which is preferred, meaning before we split any profits, you

0:52:14.360 --> 0:52:16.000
<v Speaker 5>get your eight percent and every year you were older

0:52:16.120 --> 0:52:19.640
<v Speaker 5>eight percent and then you get your share of future profits.

0:52:19.840 --> 0:52:24.040
<v Speaker 5>So now when we stabilize the Legacy Center, our projections

0:52:24.080 --> 0:52:27.279
<v Speaker 5>are we'll stabilize it in the next year, two years,

0:52:27.280 --> 0:52:30.560
<v Speaker 5>three years tops. We stabilize the Legacy Center from our

0:52:30.680 --> 0:52:35.160
<v Speaker 5>leasing model and raise that value based on a market

0:52:35.239 --> 0:52:37.880
<v Speaker 5>cap rate, from a three point six million dollar development

0:52:38.280 --> 0:52:41.239
<v Speaker 5>to a seven point two million dollar valuation, and we

0:52:41.320 --> 0:52:44.560
<v Speaker 5>either sell it and lease buy back, or we refinance

0:52:44.800 --> 0:52:46.680
<v Speaker 5>and pull most of our capital out and pay our

0:52:46.719 --> 0:52:48.640
<v Speaker 5>investors back. And you know what I mean, and all

0:52:48.719 --> 0:52:51.160
<v Speaker 5>that we still keep the asset. So it's just like

0:52:51.480 --> 0:52:54.200
<v Speaker 5>I mean, it's kind of complicated but not It depends

0:52:54.239 --> 0:52:56.880
<v Speaker 5>on your level of sophistication and real estate. But the

0:52:56.960 --> 0:52:59.040
<v Speaker 5>point is at the end of the day, It's why

0:52:59.080 --> 0:53:03.360
<v Speaker 5>I try to kind of simplify, is like it's a

0:53:03.400 --> 0:53:06.960
<v Speaker 5>long term play for folks to invest capital one, and

0:53:06.960 --> 0:53:08.959
<v Speaker 5>you shouldn't invest any money you can't afford to lose.

0:53:09.400 --> 0:53:11.600
<v Speaker 5>You shouldn't invest, you know, because in any investment, right,

0:53:11.600 --> 0:53:15.319
<v Speaker 5>you understand, no investments guaranteed, and I'm not saying it's guaranteed, right,

0:53:15.680 --> 0:53:20.000
<v Speaker 5>But it's for that discretionary income, that money that we

0:53:20.160 --> 0:53:22.720
<v Speaker 5>blow that we don't love, right, So we blow hundreds

0:53:22.719 --> 0:53:25.560
<v Speaker 5>on sneakers, hundreds on a vacation, hundreds on sparkles in

0:53:25.600 --> 0:53:30.160
<v Speaker 5>the club, hundreds on all types of alloud bill or

0:53:30.239 --> 0:53:31.200
<v Speaker 5>are happy hot our bill?

0:53:31.280 --> 0:53:31.400
<v Speaker 1>Right?

0:53:31.440 --> 0:53:32.640
<v Speaker 5>We blow all this money.

0:53:33.120 --> 0:53:34.840
<v Speaker 6>But what if we were to revert a lot of

0:53:34.880 --> 0:53:36.040
<v Speaker 6>that capital.

0:53:35.920 --> 0:53:38.760
<v Speaker 5>You know, even our Christmas, Valentine's Day and birthday money,

0:53:38.800 --> 0:53:41.120
<v Speaker 5>like our consumer money, and we were to revert that

0:53:41.239 --> 0:53:43.719
<v Speaker 5>capital and be able to pull it together to do

0:53:43.760 --> 0:53:46.920
<v Speaker 5>something awesome and impactful and historic for our community. It's

0:53:47.000 --> 0:53:49.320
<v Speaker 5>that play, right, So that's that's what everyone has understandings.

0:53:49.360 --> 0:53:52.040
<v Speaker 5>It's about us pulling our own capital to control our

0:53:52.080 --> 0:53:55.440
<v Speaker 5>own resources and a very transparent, a very regulated, a

0:53:55.520 --> 0:53:58.799
<v Speaker 5>very sophisticated way. And you know, you you know, you

0:53:58.800 --> 0:54:01.000
<v Speaker 5>know again, I invested it in the ten thousand, others

0:54:01.000 --> 0:54:03.560
<v Speaker 5>match me ten thousand, some invested one thousand, some invested

0:54:03.600 --> 0:54:06.399
<v Speaker 5>forty thousand, some invested five hundred. But it's about doing

0:54:06.400 --> 0:54:08.440
<v Speaker 5>what in your capacity, but understand that we're doing it

0:54:08.960 --> 0:54:12.440
<v Speaker 5>as a socially entrepreneur vehicle with mission involved. It's not

0:54:12.600 --> 0:54:14.440
<v Speaker 5>just the real estate fund. Like that's easy to do

0:54:14.480 --> 0:54:16.640
<v Speaker 5>with the real estate fund, but but this is a

0:54:16.680 --> 0:54:20.239
<v Speaker 5>fund for us to be able to control our own dollars,

0:54:20.480 --> 0:54:22.520
<v Speaker 5>manage our own dollars, and do it in a way

0:54:22.560 --> 0:54:25.440
<v Speaker 5>where it's not relying on any one person to save us.

0:54:25.440 --> 0:54:27.120
<v Speaker 5>I don't believe we should wait on jay Z or

0:54:27.120 --> 0:54:30.279
<v Speaker 5>Oprah or Puffy. It shouldn't be their obligation to have

0:54:30.360 --> 0:54:33.960
<v Speaker 5>to fund the whole community relationship in the fund our damnselves.

0:54:34.040 --> 0:54:34.560
<v Speaker 1>That's a fact.

0:54:34.719 --> 0:54:37.560
<v Speaker 7>What's the demographic of people that you've seen that are investing.

0:54:37.680 --> 0:54:40.240
<v Speaker 7>Is it a millennial move or is there a certain

0:54:40.280 --> 0:54:41.960
<v Speaker 7>age that you're seeing.

0:54:41.680 --> 0:54:45.279
<v Speaker 5>That very is very diverse man, I mean even ethnicities.

0:54:45.320 --> 0:54:48.120
<v Speaker 5>I mean we have white investors, Asian investors, Black investors,

0:54:48.120 --> 0:54:52.080
<v Speaker 5>obviously many African investors in America.

0:54:52.239 --> 0:54:53.799
<v Speaker 6>But demographic wise.

0:54:53.520 --> 0:54:56.000
<v Speaker 5>There are I would always want to say fifty to

0:54:56.000 --> 0:55:01.000
<v Speaker 5>fifty millennial and whatever that other generation isful. Yeah, we

0:55:01.000 --> 0:55:04.640
<v Speaker 5>have we have a lot of working class you know, moms, dads,

0:55:04.640 --> 0:55:06.520
<v Speaker 5>people have been looking for something like this. Their whole life,

0:55:06.520 --> 0:55:07.799
<v Speaker 5>like they have been a civil rights movement.

0:55:07.840 --> 0:55:09.600
<v Speaker 6>They have been, you know, born right after the Civil

0:55:09.680 --> 0:55:10.040
<v Speaker 6>rights movement.

0:55:10.080 --> 0:55:11.640
<v Speaker 5>They was part of the Black panther moving They're part

0:55:11.680 --> 0:55:14.319
<v Speaker 5>of eighties Reaganomics and all that. But people have been

0:55:14.320 --> 0:55:16.600
<v Speaker 5>looking for a solution for our community and who are

0:55:16.640 --> 0:55:18.920
<v Speaker 5>doing well or wherever they're in their life and haven't

0:55:18.920 --> 0:55:21.080
<v Speaker 5>had a vehicle. Or to the millennial who just wants

0:55:21.080 --> 0:55:22.680
<v Speaker 5>to own a piece of an apartment building for five

0:55:22.760 --> 0:55:25.240
<v Speaker 5>hundred dollars, imagine that you can the best five hundred

0:55:25.239 --> 0:55:27.560
<v Speaker 5>dollars and literally be a fractional owner in a ninety

0:55:27.640 --> 0:55:29.640
<v Speaker 5>unit apartment complex plus commercial real estate.

0:55:29.719 --> 0:55:31.160
<v Speaker 1>Yeah, that's the fact in their life.

0:55:32.520 --> 0:55:36.120
<v Speaker 2>And so the Tosa Fund has been around for a

0:55:36.120 --> 0:55:39.040
<v Speaker 2>little over yere like yeah over here, right. And so

0:55:39.080 --> 0:55:41.279
<v Speaker 2>you guys got off to a historic start. And then

0:55:41.640 --> 0:55:44.759
<v Speaker 2>but you had some some issues that you beat with

0:55:44.800 --> 0:55:47.320
<v Speaker 2>the Feds, right, And we spoke about some issues with

0:55:47.360 --> 0:55:47.520
<v Speaker 2>the Fed.

0:55:47.560 --> 0:55:48.400
<v Speaker 1>Shouts of my brother.

0:55:48.320 --> 0:55:50.879
<v Speaker 2>Chris Gotti, that's our from Murder Inc. And he told

0:55:50.960 --> 0:55:52.719
<v Speaker 2>us about their issues with the Feds, how they beat

0:55:52.719 --> 0:55:54.279
<v Speaker 2>the Feds. So the reason why I bring this up

0:55:54.320 --> 0:55:56.919
<v Speaker 2>is that we have to be we have to tell

0:55:57.080 --> 0:55:58.880
<v Speaker 2>the full story. A lot of times when high light

0:55:58.960 --> 0:56:02.360
<v Speaker 2>when when stories are it's like I knew it, but

0:56:02.400 --> 0:56:04.919
<v Speaker 2>then it's like if you get exonerated, that part never

0:56:04.960 --> 0:56:07.560
<v Speaker 2>really gets told. Right, So can you talk about that

0:56:07.560 --> 0:56:09.320
<v Speaker 2>a little bit as far as like the investigation or

0:56:09.360 --> 0:56:10.520
<v Speaker 2>I don't even know what to call I don't want

0:56:10.520 --> 0:56:12.440
<v Speaker 2>to call an investigation, but whatever, Yeah, we call.

0:56:12.440 --> 0:56:16.400
<v Speaker 5>Probe investigation subpoena, right, so we were subpoena by the FBI,

0:56:16.480 --> 0:56:21.480
<v Speaker 5>the DJ you know, FBI, and the SEC. I don't

0:56:21.520 --> 0:56:27.759
<v Speaker 5>have an exact reason why. My instinct is that all

0:56:27.800 --> 0:56:31.840
<v Speaker 5>the Negroes that thought this was a scam why I

0:56:31.840 --> 0:56:33.400
<v Speaker 5>don't know, but they thought this was a scam or

0:56:33.480 --> 0:56:36.600
<v Speaker 5>Ponzi scheme and kicked up fussing and making YouTube pages

0:56:36.640 --> 0:56:40.680
<v Speaker 5>and Facebook pages and really bashing this historic fun as

0:56:40.680 --> 0:56:43.839
<v Speaker 5>for our community, I believe you know that and other

0:56:44.440 --> 0:56:47.160
<v Speaker 5>activity by people that are making like face fake pages

0:56:47.200 --> 0:56:50.160
<v Speaker 5>on Instagram and trying to do PayPal tosal scams and

0:56:50.200 --> 0:56:52.560
<v Speaker 5>all that. I think that you know, likely put us

0:56:52.560 --> 0:56:55.640
<v Speaker 5>on folks radar. I'm obviously I'm not the most conventional

0:56:55.800 --> 0:57:00.439
<v Speaker 5>fund manager with my background as well, but however less

0:57:00.440 --> 0:57:02.520
<v Speaker 5>we ended up on their radar and they subpoened us

0:57:02.560 --> 0:57:05.640
<v Speaker 5>for documents. They wanted to see over fifty thousand emails.

0:57:05.680 --> 0:57:07.480
<v Speaker 5>They want to see our financial records, they want to

0:57:07.480 --> 0:57:08.960
<v Speaker 5>see our infrastructure.

0:57:09.360 --> 0:57:12.200
<v Speaker 1>Yeah you so we said, all right, see that.

0:57:12.280 --> 0:57:13.799
<v Speaker 5>Here you go. You know, here, here's the whole thing.

0:57:13.800 --> 0:57:15.720
<v Speaker 5>Follow the money, right, like we said, follow the money.

0:57:16.040 --> 0:57:18.480
<v Speaker 5>And I won't say we beat the Feds. I don't

0:57:18.480 --> 0:57:20.640
<v Speaker 5>want to put it like that, but I will say

0:57:20.680 --> 0:57:25.560
<v Speaker 5>that they have been gracious and I believe fair with us, uh,

0:57:25.640 --> 0:57:28.280
<v Speaker 5>you know, and doing their job. And after reviewing our

0:57:28.320 --> 0:57:31.000
<v Speaker 5>emails and reviewing our financial records, they see their investigation.

0:57:31.920 --> 0:57:35.280
<v Speaker 5>You know, they reserved the right to investigate it anytime.

0:57:35.560 --> 0:57:37.400
<v Speaker 5>But they did cease their investigation.

0:57:37.960 --> 0:57:40.600
<v Speaker 1>Uh, they thoroughly looked into it, and they didn't find

0:57:40.640 --> 0:57:41.600
<v Speaker 1>anything that was.

0:57:42.440 --> 0:57:46.240
<v Speaker 5>I'm just saying. I'm just saying. They had fifty thousand emails,

0:57:46.280 --> 0:57:48.720
<v Speaker 5>they had our financial records, our audits, our bank statements,

0:57:48.760 --> 0:57:52.320
<v Speaker 5>our bank accounts, our whole everything, and they cease their investigations.

0:57:54.640 --> 0:57:58.000
<v Speaker 5>So people should right. Absolutely, I'm just not I don't

0:57:58.000 --> 0:58:03.840
<v Speaker 5>want to beef for them. Listen, Listen, we're not smiking.

0:58:06.880 --> 0:58:08.600
<v Speaker 3>Said this other day. Don't worry. Nobody's listening.

0:58:10.440 --> 0:58:13.919
<v Speaker 5>But We're just saying that there there. I mean, one

0:58:13.920 --> 0:58:18.960
<v Speaker 5>can rationally think that if there was something super egregious

0:58:19.080 --> 0:58:23.800
<v Speaker 5>or you know, any major infractions that that, you know whatever.

0:58:23.840 --> 0:58:25.520
<v Speaker 5>I don't even want to speak too much. Just I'll

0:58:25.520 --> 0:58:28.720
<v Speaker 5>just say that, you know, God is good. We've operated

0:58:28.720 --> 0:58:30.480
<v Speaker 5>this fund and integrity. It's my legacy on the line.

0:58:30.480 --> 0:58:30.600
<v Speaker 1>Bro.

0:58:30.640 --> 0:58:32.080
<v Speaker 5>I'm not gonna be the guy that raised money from

0:58:32.120 --> 0:58:33.920
<v Speaker 5>the community that went ran off of the bag. Like,

0:58:33.920 --> 0:58:35.320
<v Speaker 5>that's not gonna be my legacy. Like, you know what

0:58:35.320 --> 0:58:37.480
<v Speaker 5>I'm saying. I worked too hard for this. You know,

0:58:37.680 --> 0:58:39.280
<v Speaker 5>I got a family that looks it looks up to me,

0:58:39.320 --> 0:58:41.440
<v Speaker 5>and many that people around the community look up to me.

0:58:42.000 --> 0:58:43.560
<v Speaker 5>We're just doing our best job, man, and do something

0:58:43.600 --> 0:58:46.520
<v Speaker 5>that's never done before. Is it gonna be perfect? No trail.

0:58:48.480 --> 0:58:50.440
<v Speaker 5>I don't have a blueprint, you know what I'm saying, Like,

0:58:50.520 --> 0:58:53.560
<v Speaker 5>but we are doing our best to operate with integrity, transparency.

0:58:54.800 --> 0:58:56.840
<v Speaker 5>You know, the whole first year of the fund, I

0:58:56.920 --> 0:58:59.560
<v Speaker 5>deferred my salary. I took no I took no personal salary,

0:58:59.640 --> 0:59:02.040
<v Speaker 5>no personal compensation the whole first year, although I freaking

0:59:02.080 --> 0:59:05.680
<v Speaker 5>deserve it. But again, we're just trying to move right, man,

0:59:05.720 --> 0:59:07.720
<v Speaker 5>and just like get our people to feel comfortable trusting

0:59:07.760 --> 0:59:10.520
<v Speaker 5>each other because the reality is, you know, which is

0:59:10.520 --> 0:59:12.840
<v Speaker 5>going to be one of our next campaigns. We're going

0:59:12.920 --> 0:59:16.280
<v Speaker 5>to be challenging everyone, you guys, everybody to invest? Is

0:59:16.320 --> 0:59:18.960
<v Speaker 5>that listen? It only takes forty thousand of us to

0:59:18.960 --> 0:59:22.800
<v Speaker 5>invest a thousand dollars to raise forty million dollars. That'sh

0:59:22.800 --> 0:59:26.440
<v Speaker 5>it alright, Like, yeah, diverted from somewhere else, forty thousand

0:59:26.480 --> 0:59:28.280
<v Speaker 5>US put up one thousand dollars, we got forty million.

0:59:28.320 --> 0:59:31.000
<v Speaker 5>Forty million is a twenty percent down payment on a

0:59:31.000 --> 0:59:32.680
<v Speaker 5>two hundred million dollar project.

0:59:33.480 --> 0:59:34.600
<v Speaker 6>Ro It's just not that hard.

0:59:34.920 --> 0:59:38.120
<v Speaker 1>That's the fact. So what's your vision like five years?

0:59:38.160 --> 0:59:38.800
<v Speaker 1>Like what do you win?

0:59:38.840 --> 0:59:41.080
<v Speaker 5>A billion dollars of assets under management? A billion black

0:59:41.120 --> 0:59:44.400
<v Speaker 5>dollars in five years and all kinds of different properties,

0:59:44.760 --> 0:59:49.960
<v Speaker 5>all kinds of assets, communities, hotels, hospitals, strip malls. Funding

0:59:50.240 --> 0:59:51.960
<v Speaker 5>is not meant mind you. I don't want to be

0:59:52.000 --> 0:59:54.360
<v Speaker 5>the biggest developer in the world. I want to be

0:59:54.400 --> 0:59:56.640
<v Speaker 5>a great fund manager. The goal of the fund is

0:59:56.640 --> 0:59:59.160
<v Speaker 5>not just the director and we acquire some assets where

0:59:59.360 --> 1:00:01.640
<v Speaker 5>because we have great resources and relationships, you know, within

1:00:01.680 --> 1:00:04.680
<v Speaker 5>different real estate communities. So we get good deals, but

1:00:04.800 --> 1:00:08.280
<v Speaker 5>really we want to privately lend and fund other people's deals.

1:00:08.560 --> 1:00:10.720
<v Speaker 5>Like that's really my focus is, Like, Okay, you come

1:00:10.760 --> 1:00:13.080
<v Speaker 5>with a project that you found in your community, all right,

1:00:13.160 --> 1:00:16.120
<v Speaker 5>let's fund your project. Right. You came with a strip mall,

1:00:16.160 --> 1:00:18.000
<v Speaker 5>or you inherit some acres of land and you want

1:00:18.000 --> 1:00:20.520
<v Speaker 5>to develop that, Okay, let's fund your project. So, or

1:00:20.640 --> 1:00:22.160
<v Speaker 5>you got a loan from a bank and the bank's

1:00:22.240 --> 1:00:23.800
<v Speaker 5>going to give you eighty percent, but you don't got

1:00:23.800 --> 1:00:25.600
<v Speaker 5>the twenty percent equity. Well, let's give you the twenty

1:00:25.600 --> 1:00:28.000
<v Speaker 5>percent equity. Right. So the goal of the fund is

1:00:28.040 --> 1:00:30.080
<v Speaker 5>not for Jay Morrison to build a bunch of real estate.

1:00:30.360 --> 1:00:32.160
<v Speaker 5>The goal of the fund is to be all ability

1:00:32.120 --> 1:00:34.000
<v Speaker 5>to be the rich uncle for our community to be

1:00:34.320 --> 1:00:34.880
<v Speaker 5>for all of us.

1:00:34.880 --> 1:00:37.560
<v Speaker 2>Still, I'm glad you said that because I just thought

1:00:37.600 --> 1:00:39.840
<v Speaker 2>about that. We talked about it earlier. You guys are funding,

1:00:39.840 --> 1:00:42.520
<v Speaker 2>you're giving out money. Now we're not giving out, but you.

1:00:42.200 --> 1:00:45.600
<v Speaker 1>You're loaning money. I mean, we've been from day one.

1:00:44.120 --> 1:00:48.200
<v Speaker 5>If you talk like, a black woman out of Lake Charles,

1:00:48.240 --> 1:00:51.080
<v Speaker 5>Louisiana came to us. She got approved by a private

1:00:51.160 --> 1:00:54.000
<v Speaker 5>lender that was not of our ethnicity. They approved there

1:00:54.040 --> 1:00:57.440
<v Speaker 5>for a loan on fourteen units. She got her appraisal back.

1:00:57.560 --> 1:01:01.040
<v Speaker 5>The property appraised for two hundred thousand more than thought. Wow.

1:01:01.160 --> 1:01:02.640
<v Speaker 5>Then the lender came back and said, well, you know what,

1:01:02.640 --> 1:01:05.000
<v Speaker 5>were gonna need a bigger down payment. I never heard

1:01:05.040 --> 1:01:07.680
<v Speaker 5>of that lender. Should feel more comfortable about loaning your

1:01:07.680 --> 1:01:10.240
<v Speaker 5>money if your property appraise from or right, Because you

1:01:10.280 --> 1:01:11.840
<v Speaker 5>know what I mean, they went and tried to get

1:01:11.840 --> 1:01:14.320
<v Speaker 5>more money for her down payment so that she couldn't afford.

1:01:14.360 --> 1:01:15.560
<v Speaker 6>They're trying to really box her.

1:01:15.440 --> 1:01:18.160
<v Speaker 5>Out so she couldn't purchase it and probably try to

1:01:18.160 --> 1:01:19.360
<v Speaker 5>go behind the door and grab it from her.

1:01:20.120 --> 1:01:21.360
<v Speaker 6>She came through me, through one of my.

1:01:21.400 --> 1:01:24.920
<v Speaker 5>Mentors, and we end up funding her whole project, the rehab,

1:01:25.000 --> 1:01:28.200
<v Speaker 5>the construction, the acquisition and all that. And now today

1:01:28.280 --> 1:01:30.240
<v Speaker 5>she has her fourteen units still with a few hundred

1:01:30.280 --> 1:01:31.080
<v Speaker 5>thousand dollars equity.

1:01:31.440 --> 1:01:33.640
<v Speaker 2>So how do how do if people want to contact

1:01:33.680 --> 1:01:35.760
<v Speaker 2>you about the funding, like just for the funding temple?

1:01:35.800 --> 1:01:36.360
<v Speaker 1>How today is that?

1:01:36.480 --> 1:01:39.280
<v Speaker 5>Like, yeah, you're funding and if you want to be

1:01:39.320 --> 1:01:41.480
<v Speaker 5>a partner with us, right, I'm talking about not a donations,

1:01:41.520 --> 1:01:43.760
<v Speaker 5>not a kickstarter, this is be an equity owner and

1:01:43.840 --> 1:01:46.720
<v Speaker 5>a partner or to get your to submit your deal

1:01:46.800 --> 1:01:49.920
<v Speaker 5>for funding or capital partnership called to Tulsa t U

1:01:50.120 --> 1:01:53.240
<v Speaker 5>l s a real estatefund dot com.

1:01:53.880 --> 1:01:56.080
<v Speaker 1>Jay Man, thank you for joining us. Like I said, this.

1:01:56.080 --> 1:01:59.840
<v Speaker 2>Is something that we were looking forward to. Glad that

1:02:00.040 --> 1:02:04.480
<v Speaker 2>you got to do this in real life. And yeah

1:02:04.520 --> 1:02:06.680
<v Speaker 2>once again, yeah yeah, gotta stop asking now you gotta

1:02:06.720 --> 1:02:12.400
<v Speaker 2>have somebody else that y'all they did it so big homie.

1:02:12.440 --> 1:02:14.400
<v Speaker 2>All right, so you just used to spoke about that.

1:02:14.480 --> 1:02:18.360
<v Speaker 2>But okay, so everything else? What is the contact information

1:02:18.440 --> 1:02:21.160
<v Speaker 2>for all of your other uh businesses and everything else

1:02:21.160 --> 1:02:22.280
<v Speaker 2>you have going on social media?

1:02:22.280 --> 1:02:23.680
<v Speaker 1>And how can the people appreciate that?

1:02:23.840 --> 1:02:26.160
<v Speaker 5>I mean, I want to challenge everyone man, Like you

1:02:26.160 --> 1:02:28.440
<v Speaker 5>guys heard me spit game here today, like I know

1:02:28.520 --> 1:02:29.760
<v Speaker 5>what I know, you know what I'm saying, Like I

1:02:29.840 --> 1:02:32.800
<v Speaker 5>noticed stuff and how to translate and related stuff. We

1:02:32.920 --> 1:02:36.920
<v Speaker 5>teach this very affordably, very relatively, very accessibly in a J.

1:02:37.080 --> 1:02:40.760
<v Speaker 5>Morrison Academy again ink five hundred top ten educational companies

1:02:40.760 --> 1:02:43.000
<v Speaker 5>in the country. You guys, go to J. Morrison. It's

1:02:43.080 --> 1:02:46.320
<v Speaker 5>Jay Morrison Academy dot com. We have a brand new

1:02:46.320 --> 1:02:49.080
<v Speaker 5>curriculum we just created. It's over eighty five lessons on

1:02:49.240 --> 1:02:51.720
<v Speaker 5>what we call the RBC's. So like in school they

1:02:51.720 --> 1:02:54.919
<v Speaker 5>teaches the ABC's, so we teach the RBC's real estate,

1:02:55.000 --> 1:02:57.960
<v Speaker 5>business and credit. So we go over everything from wholesaling

1:02:58.000 --> 1:03:00.160
<v Speaker 5>real estate with no cash or credit to fixing to

1:03:00.160 --> 1:03:02.560
<v Speaker 5>flipp into home ownership one oh one. We go over

1:03:02.640 --> 1:03:06.520
<v Speaker 5>corporate veil strategies, to over branding your business, marketing your business,

1:03:06.520 --> 1:03:09.919
<v Speaker 5>exit strategy, operations, how to manage to hire your team.

1:03:10.000 --> 1:03:13.720
<v Speaker 5>We go over credit strategies, personal credit, family credit, business

1:03:13.760 --> 1:03:17.160
<v Speaker 5>credit credit lines, credit leverage, like all that for the

1:03:17.200 --> 1:03:21.800
<v Speaker 5>whole game. We bust down and it's a lot. I

1:03:21.840 --> 1:03:23.640
<v Speaker 5>literally was like, Okay, I got dumped everything out of

1:03:23.640 --> 1:03:25.480
<v Speaker 5>my head and put into this curriculum. Like because every

1:03:25.560 --> 1:03:27.880
<v Speaker 5>year we update the curriculum, I want to dump everything

1:03:27.880 --> 1:03:30.440
<v Speaker 5>out that I have. My partner Will Roundtree, my partner

1:03:30.440 --> 1:03:32.800
<v Speaker 5>Isaac Gracey all put it together, and I mean in

1:03:32.840 --> 1:03:35.440
<v Speaker 5>that curriculum, we have the quizzes, the tests, the assessments.

1:03:36.360 --> 1:03:38.720
<v Speaker 5>Our basic curriculums starts at one hundred and ninety seven

1:03:38.760 --> 1:03:45.200
<v Speaker 5>dollars for the year bro like all that corporate vale strategy, homeownership, flipping, holding, landlording,

1:03:45.600 --> 1:03:47.680
<v Speaker 5>all that for one seven for the whole year, like

1:03:48.120 --> 1:03:51.640
<v Speaker 5>a fraction of your community college. And then we have

1:03:51.720 --> 1:03:55.280
<v Speaker 5>another curriculum where you can actually get weekly mentorship calls,

1:03:55.320 --> 1:03:58.800
<v Speaker 5>get all that plus weekly mentorship calls, career opportunities, joint

1:03:58.880 --> 1:04:02.360
<v Speaker 5>venture opportunities, opportunities with us, and that curriculum just for

1:04:02.520 --> 1:04:03.520
<v Speaker 5>ninety seven for the year.

1:04:03.600 --> 1:04:05.480
<v Speaker 6>So like I'm really giving the community game.

1:04:05.840 --> 1:04:07.960
<v Speaker 5>I mean like sixteen dollars at like thirty dollars a

1:04:07.960 --> 1:04:11.480
<v Speaker 5>month type of thing. So you know, again Jay Morrison Academy,

1:04:11.480 --> 1:04:13.600
<v Speaker 5>you can find us for education. You want to partner

1:04:13.640 --> 1:04:16.200
<v Speaker 5>with me and with us on real estate assets as

1:04:16.200 --> 1:04:19.000
<v Speaker 5>a passive investor and partner, go to Tulsa real Estate

1:04:19.040 --> 1:04:22.000
<v Speaker 5>Fund dot com and for just every day you know, game, inspiration,

1:04:22.080 --> 1:04:23.800
<v Speaker 5>motivation or whatever else you think I'll bring to the

1:04:23.840 --> 1:04:27.080
<v Speaker 5>table at mister J. Morrison on all platforms. So that's

1:04:27.120 --> 1:04:31.320
<v Speaker 5>at mister J. Morrison YouTube, Facebook, fan page, Instagram. Of course,

1:04:32.120 --> 1:04:35.440
<v Speaker 5>I'm just trying to get LinkedIn. I'm on LinkedIn. My

1:04:35.560 --> 1:04:37.760
<v Speaker 5>team runs it. I don't run it, so you've befriend me.

1:04:37.800 --> 1:04:42.120
<v Speaker 5>It ain't me, but LinkedIn as well. Tulsa Real Estate

1:04:42.120 --> 1:04:44.000
<v Speaker 5>Fund has as a YouTube as well, and Total Real

1:04:44.080 --> 1:04:47.040
<v Speaker 5>Estate Fund on ig that page is popping JMA. So

1:04:47.040 --> 1:04:49.480
<v Speaker 5>I'm just really proud of the companies that I first

1:04:49.520 --> 1:04:52.520
<v Speaker 5>of what was before the companies. I want to give thanks,

1:04:52.680 --> 1:04:54.439
<v Speaker 5>and not in a cliche way, but thanks to God

1:04:54.560 --> 1:04:58.960
<v Speaker 5>just for really my testimony and stress testingmy you know,

1:04:59.000 --> 1:05:00.880
<v Speaker 5>I'm like God stressed test me to make sure I

1:05:00.920 --> 1:05:01.600
<v Speaker 5>was ready.

1:05:01.360 --> 1:05:03.800
<v Speaker 6>For what he had for me, who wanted me to be.

1:05:03.880 --> 1:05:06.600
<v Speaker 5>So I thank God for his grace and shout out

1:05:06.640 --> 1:05:11.120
<v Speaker 5>to my wife as well holding me down. But also though, yeah,

1:05:11.240 --> 1:05:13.160
<v Speaker 5>just I'm proud of the companies we built. Man Like,

1:05:13.200 --> 1:05:15.200
<v Speaker 5>this was no easy journey. I talk, you know, I

1:05:15.280 --> 1:05:17.160
<v Speaker 5>get in my bag and I talk my shit, but

1:05:18.280 --> 1:05:21.720
<v Speaker 5>it's my way of kind of just like replenishing myself.

1:05:21.760 --> 1:05:23.640
<v Speaker 5>Got pour out and I give so much. We didn't

1:05:23.640 --> 1:05:26.720
<v Speaker 5>even mention the sixty three free corner classes I've done

1:05:26.920 --> 1:05:29.560
<v Speaker 5>over the last four years. I was talking twenty eight

1:05:29.640 --> 1:05:33.080
<v Speaker 5>city sixty three free corner classes, even the legendary twenty

1:05:33.080 --> 1:05:35.640
<v Speaker 5>four hour corner class here in Atlanta on Lee and Abernathy,

1:05:35.840 --> 1:05:38.800
<v Speaker 5>which I'll be doing another one, so you know, I'm

1:05:38.800 --> 1:05:39.520
<v Speaker 5>putting in work.

1:05:39.520 --> 1:05:40.320
<v Speaker 6>But again it's all.

1:05:40.240 --> 1:05:41.920
<v Speaker 5>Part of the initial mission. I talked about a bridging

1:05:41.920 --> 1:05:43.480
<v Speaker 5>a gap between real estate and pop culture.

1:05:43.520 --> 1:05:44.080
<v Speaker 6>I don't care if I.

1:05:44.040 --> 1:05:45.240
<v Speaker 5>Gotta do it on the corner, if I gotta do

1:05:45.280 --> 1:05:47.120
<v Speaker 5>it online, if I got to create a fund to

1:05:47.120 --> 1:05:48.520
<v Speaker 5>do it, if I gotta have a school to do it.

1:05:48.520 --> 1:05:50.640
<v Speaker 5>We got a real estate brokerage coming out soon and

1:05:50.680 --> 1:05:52.400
<v Speaker 5>a bunch of other opportunities that are gonna be bringing

1:05:52.400 --> 1:05:54.520
<v Speaker 5>to the public and to the people. And we got

1:05:54.520 --> 1:05:57.040
<v Speaker 5>the Legacy Center, the Black House, the all Black building

1:05:57.120 --> 1:05:59.440
<v Speaker 5>in East Point, thirty thousand s gud feet. That's for

1:05:59.520 --> 1:06:01.680
<v Speaker 5>all of us. So I just you know, afford to

1:06:01.680 --> 1:06:03.400
<v Speaker 5>building what you all. Thank you guys for having me man.

1:06:03.560 --> 1:06:04.840
<v Speaker 3>I appreciate you coming on man.

1:06:05.040 --> 1:06:05.880
<v Speaker 1>Troy.

1:06:06.640 --> 1:06:09.840
<v Speaker 7>Yeah, shoutut to everybody on Patreon, dot com, bas stash

1:06:09.880 --> 1:06:13.040
<v Speaker 7>and at leisure. I'll probably pay program everybody that supports that.

1:06:13.440 --> 1:06:15.080
<v Speaker 7>Like we said, we have a five tier program. You

1:06:15.080 --> 1:06:18.080
<v Speaker 7>can join that any tier. There's different features at each tier.

1:06:18.520 --> 1:06:20.840
<v Speaker 7>We got new members again. Every week we get to

1:06:20.840 --> 1:06:23.320
<v Speaker 7>shout out people, So shout out to them Ken saying

1:06:23.320 --> 1:06:27.040
<v Speaker 7>that right and the Kia. Shout out to them and

1:06:27.080 --> 1:06:29.320
<v Speaker 7>everybody that's been supporting on Patreon, and shout out everybody

1:06:29.360 --> 1:06:32.320
<v Speaker 7>that's been purchasing the merch. My Asset Soul liability shirt

1:06:32.440 --> 1:06:34.640
<v Speaker 7>is doing really well and people keep supporting that, and.

1:06:34.640 --> 1:06:38.560
<v Speaker 3>We got new merch. Like you said, you leave it.

1:06:38.600 --> 1:06:40.800
<v Speaker 7>So what happens when people come on after they do

1:06:40.840 --> 1:06:42.600
<v Speaker 7>the episode, they become ey L alumni.

1:06:43.080 --> 1:06:51.520
<v Speaker 3>So now you officially probably graduating. He just got his

1:06:51.640 --> 1:06:54.640
<v Speaker 3>doctor to the ey L University. Yeah, so shout out

1:06:54.640 --> 1:06:55.640
<v Speaker 3>to everybody that's doing that.

1:06:55.680 --> 1:06:57.479
<v Speaker 7>And our tour shirts are l too, So every city

1:06:57.520 --> 1:06:59.800
<v Speaker 7>we go to we bring shirts, and we have searched

1:06:59.840 --> 1:07:02.040
<v Speaker 7>some cities, So shout out to everybody that's an in person.

1:07:02.280 --> 1:07:04.640
<v Speaker 2>Person knows for sure, for sure, and then don't forget.

1:07:04.920 --> 1:07:06.880
<v Speaker 2>By the time you guys hear this, I think it'll

1:07:06.920 --> 1:07:08.680
<v Speaker 2>be two days left. So it's not too late to

1:07:08.680 --> 1:07:10.960
<v Speaker 2>register for our free network Meet and Green Chicago nine

1:07:10.960 --> 1:07:14.920
<v Speaker 2>twenty six, and we're having our first workshop in Brooklyn,

1:07:14.960 --> 1:07:16.680
<v Speaker 2>but it's also going to be livestreamed all over the world,

1:07:16.720 --> 1:07:18.200
<v Speaker 2>so make sure you're registered that and that's going to

1:07:18.240 --> 1:07:21.080
<v Speaker 2>be ten to seventeen. And the book tip of this week,

1:07:21.080 --> 1:07:23.080
<v Speaker 2>because we always give a book tip, is your book.

1:07:24.120 --> 1:07:28.040
<v Speaker 2>Yeah the Lord of my Land. Yeah yeah, Lord of

1:07:28.080 --> 1:07:31.000
<v Speaker 2>my Land. Make sure you check that out, man. Yeah,

1:07:31.240 --> 1:07:31.720
<v Speaker 2>thank you just.

1:07:31.680 --> 1:07:34.120
<v Speaker 6>Be a landlord man, be the lord of your land.

1:07:34.320 --> 1:07:36.240
<v Speaker 2>That's a fact. That's a fact. So yeah, thank you

1:07:36.240 --> 1:07:37.680
<v Speaker 2>guys for rocking with real life.

1:07:37.760 --> 1:07:39.680
<v Speaker 1>We see you next week.

1:07:39.760 --> 1:07:46.720
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