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Speaker 1: You just realized your business needed to hire someone yesterday.

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Speaker 1: How can you find amazing candidates fast?

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Speaker 1: Indeed is all you need.

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Speaker 2: So I'm sitting there like, yes, you got it, I'm

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Speaker 2: gonna take the job. So I pulls off in my car,

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Speaker 2: but I wanted to double back to go buy my

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Speaker 2: partner to tell them look the jigs up like red

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Speaker 2: Rover nine or the jigs up.

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Speaker 3: So by the time I get over there, swat.

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Speaker 2: Cars, cops, barricades, and I pull over and I'm sitting

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Speaker 2: there with a trunk full of phones, and I'm going

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Speaker 2: defining moment, y'all, That's defining moment, Like all right, just

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Speaker 2: gotta pull off.

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Speaker 4: My graduates from my school being forced back. Drop bags drop, Mike,

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Speaker 4: drop bag drop.

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Speaker 5: All right, ey l we back home New York City.

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Speaker 5: This is a highly anticipated episode and it's one that

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Speaker 5: I'm sure a lot of people are gonna benefit from.

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Speaker 5: And I love telling these stories. Shout out to our

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Speaker 5: guy Jamal King. We kind of his story which he

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Speaker 5: was a police officer and became a millionaire while he

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Speaker 5: was working on a police force and started a bunch

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Speaker 5: of different businesses and made a bunch of money in

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Speaker 5: real estate and the whole non And I feel like

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Speaker 5: this story is kind of going to be in line

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Speaker 5: with that. But it's different, obviously because it's a different career,

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Speaker 5: different path, but more importantly has that same level of

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Speaker 5: hope because most people that are watching this are working

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Speaker 5: a regular job, and most people are, you know, that

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Speaker 5: blue collar, middle class, working class, whatever you want to

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Speaker 5: call it, trying to get to that millionaire status. Most

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Speaker 5: people haven't actually made their millions yet, but the goal

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Speaker 5: is to get to that point. So whenever we can

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Speaker 5: highlight people that come from that and actually were able

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Speaker 5: to do that while still actually, you know, working a

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Speaker 5: regular job. I think that it's not only educational, but

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Speaker 5: it's extremely motivational as well. Yeah, so Storm Leroy out

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Speaker 5: of Brooklyn, New York, correct Science, what part that style

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Speaker 5: we made?

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Speaker 6: This is a This is a first.

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Speaker 7: So a lot of times people walk up to us

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Speaker 7: and they tell us what they do in the business,

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Speaker 7: and we always are polite about listening, right because you

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Speaker 7: never know what somebody's idea could just be something that's

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Speaker 7: world changing. And usually it always ends with yeah, I'm

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Speaker 7: gonna be on the show, and I'll response. My response

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Speaker 7: to show is like, Yo, I can't wait. The sea's

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Speaker 7: gonna be waiting for you. So like, this is the

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Speaker 7: first time that I've said, Yo, the seat's gonna be

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Speaker 7: waiting for you, and the person has arrived in the seat,

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Speaker 7: So welcome, my brother.

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Speaker 2: I appreciate it. Man, This is this is definitely a moment,

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Speaker 2: you know what I mean. I've really been timing this

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Speaker 2: out to stay focused, Like I said, keep my head down,

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Speaker 2: keep doing what I'm doing. The intent, my intent will

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Speaker 2: lead to this moment and now it's happening, Like really,

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Speaker 2: I'm crazy.

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Speaker 6: Yeah yeah, man, yeah that's the grind.

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Speaker 8: Man.

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Speaker 6: We met what about over a year ago?

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Speaker 2: It was a year and eight months ago. I don't

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Speaker 2: know that was too specific.

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Speaker 6: It's on my calendar.

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Speaker 8: Yeah.

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Speaker 7: So we met at our brother Juvenar's event. Yes, sir,

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Speaker 7: we've been watching you grinding. See now you shoot me

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Speaker 7: to text. I'm like, yo, we see what's going on.

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Speaker 7: We see what's going on. And then we ran to

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Speaker 7: each other on the plane. Yes, and I was like,

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Speaker 7: that's the perfect time. We got this event that we're

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Speaker 7: doing in Atlanta. I think you want to be part

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Speaker 7: of it.

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Speaker 5: Yeah?

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Speaker 2: Yeah, that was That was That was a powerful moment

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Speaker 2: because I know it's like you had got off and

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Speaker 2: then I seen you like slow down and I'm like,

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Speaker 2: oh yeah, we could take this picture together. And then

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Speaker 2: you looked though it was like you ready. I was like, yeah,

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Speaker 2: I'm ready to take this picture. No, no, no, not

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Speaker 2: invest fast. I literally just stopped, come on, messed up forlone,

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Speaker 2: stop playing. He's like, no, seriously, are you ready? I said, yes,

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Speaker 2: let's do this. You're like it's done. Let's take this picture.

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Speaker 2: I mean that picture. If people look back at that

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Speaker 2: picture on my timeline, I'm showing that back tooth right there.

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Speaker 2: Super duper, you know what I mean.

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Speaker 3: So I appreciate that moment.

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Speaker 5: Man, I appreciate you for coming. The mighty, mighty invest

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Speaker 5: fast legendary hit situation. So you definitely played a part

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Speaker 5: in it. Thank you for coming. But even before that,

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Speaker 5: there was a viral moment where Ash Cash shouts brother

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Speaker 5: ash Cash, eyl network inside the vault your episode. This

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Speaker 5: is actually a lot to live up to it because

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Speaker 5: I don't know how top that came out the gate

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Speaker 5: with a five hundred thousand viewed you two. Yeah, that's

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Speaker 5: I think that's that's his biggest episode.

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Speaker 7: Definitely biggest episodes even on the networks. If you look

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Speaker 7: at the top uploads, it's still in the top ten.

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Speaker 6: Yeah.

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Speaker 2: Sure, I always checked too.

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Speaker 5: That's vague, man. So long story short, this is going

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Speaker 5: to be a throw episode. Thank you for coming. Appreciate it,

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Speaker 5: yeahah for sure. So all right, so let's get into this.

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Speaker 5: I want to talk about the real estate. I want

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Speaker 5: to talk about entrepreneurship, I want to talk about all that.

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Speaker 5: But I want to start at the beginning, you were

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Speaker 5: working at Verizon, yes, sir, the Verizon man.

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Speaker 2: The variety you were.

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Speaker 5: You were literally the Verizon man.

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Speaker 6: Yep.

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Speaker 3: So all right, So.

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Speaker 5: So how did that start, How how did this start

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Speaker 5: working with Verzon and at what point did you get

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Speaker 5: turned onto real estate.

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Speaker 2: I started working for Verizon in nineteen ninety six, ninety six.

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Speaker 2: I was young, and but what got me into real

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Speaker 2: estate was my dad. You know, my dad, he was

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Speaker 2: a hard workers work in construction, and while working construction,

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Speaker 2: he would come home. He would have me take his

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Speaker 2: boots off, you know, and I would take his boots off,

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Speaker 2: and there would be times I would running hot from

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Speaker 2: him because I literally didn't want to take his boots off,

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Speaker 2: these dirty boots. You know.

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Speaker 3: It was me and my brothers and sisters, but he

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Speaker 3: would always call me.

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Speaker 2: So my dad, who worked construction, like I mentioned, one

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Speaker 2: day he gets carved in while doing a hospital and

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Speaker 2: Brooklyn called Woodhall Hospital. So he got caved in. He

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Speaker 2: was a day laborer, wasn't supposed to be there anything.

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Speaker 2: It's in the seventies, caved in like the walls fell

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Speaker 2: like he had the walls. Then while digging the ditch.

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Speaker 2: The dirt collapse then on him. So from the like

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Speaker 2: a little bit above the waist down on the dirt

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Speaker 2: collapse then on him. So they dug him out, brought

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Speaker 2: him home, and they sat him at the kitchen table.

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Speaker 2: They carried him in, so I'm about seven eight years old,

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Speaker 2: sat him at the kitchen table.

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Speaker 3: So he calls me back in and says, take my

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Speaker 3: boots off.

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Speaker 2: But now he's in agonizing pain, you know, and I

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Speaker 2: could see this thing on his face. So I'm taking

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Speaker 2: his boots off and he looks down at me says,

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Speaker 2: you know, why have you take my boots off? And

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Speaker 2: I say know why? He says, because I don't ever

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Speaker 2: want you to go through what you see me going through.

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Speaker 2: Wow hit me.

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Speaker 3: It hit me like a ton of bricks. I know

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Speaker 3: he's delivering me a message.

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Speaker 2: You know. I might have been young, but he understood

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Speaker 2: the volume, the volume of giving me that at that

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Speaker 2: time that he's ready. So it's stuck at that moment.

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Speaker 2: But he would always walk around the house and say,

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Speaker 2: don't pay anybody's mortgage. Now we remember back in the seventies,

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Speaker 2: it was redlining. No matter how much they would want

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Speaker 2: to say that it didn't exist, you know, with the

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Speaker 2: signing of the housing the Fair Housing Act, I think

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Speaker 2: at sixty five or sixty eight, whenever that was, it

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Speaker 2: still existed. So my dad wasn't allowed to buy our

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Speaker 2: home no matter how much. And we had our landlord.

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Speaker 2: We never seen him, but we knew he was Jewish,

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Speaker 2: Brownstone and bad sty. He would have another black gentleman

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Speaker 2: come collect the rent. But what would never happen was repairs.

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Speaker 2: The house was falling down. You know, my dad would

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Speaker 2: do all the repairs. The baller would break, he wouldat

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Speaker 2: somebody fixed the ballers everything. So one time, literally our

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Speaker 2: baller broke down to the point where ituln't be repaired,

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Speaker 2: need to put a new baller in. So you imagine

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Speaker 2: how many thousands of dollars that was. My dad couldn't

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Speaker 2: afford to get that. So we literally went three years

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Speaker 2: without heat in hot water. Could you imagine that? Like,

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Speaker 2: I'll look at that now at this moment and go crazy. Yeah,

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Speaker 2: I couldn't even imagine that. But here's something that really,

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Speaker 2: you know, put me into the moment of understanding. You

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Speaker 2: don't know bad. When you're in the moment of bad,

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Speaker 2: you just know family fund it was ten of us brothers, sisters,

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Speaker 2: Brownstone three floors, joining ourselves.

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Speaker 3: And we didn't realize that was not normal, you know.

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Speaker 2: And what made it more impactful and made it seem

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Speaker 2: like it wasn't a bad thing because my house was

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Speaker 2: full of so much love with my mother and father

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Speaker 2: and the other kids in the neighborhood always would want

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Speaker 2: to hang out my house because my parents were so free,

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Speaker 2: you know, you allow friends to come over their cock

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Speaker 2: dinna and hang out. And I'd be like, yoh, well

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Speaker 2: had no heat, bro we had with coats on it,

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Speaker 2: Like yeah, but my house is is hell on wheels.

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Speaker 2: So anyway, moving forward, going from there, I got the

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Speaker 2: job at Horizon. But before that, I got my first apartment.

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Speaker 2: This is when it really hit me. I got my

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Speaker 2: first apartment, started paying rent, and I said, this don't

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Speaker 2: feel right like paying someone rent while I'm paying the mortgage.

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Speaker 2: Didn't feel right in Brooklyn. In Brooklyn, New York, I said, man,

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Speaker 2: I got to get my own place. So I got

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Speaker 2: my job at Verizon. I started looking for a place

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Speaker 2: back in nineteen ninety five, right before I got the job. Now,

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Speaker 2: I was hustling doing my thing, but it wasn't drugs.

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Speaker 2: I like to get that point of rus I was

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Speaker 2: doing white hustles. Yeah, it's all type of hustle. Telling

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Speaker 2: the type of hustle he was doing was I was

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Speaker 2: doing tech technology hustle, you know, with cell phones and

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Speaker 2: stuff like that. You know, I like to say I

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Speaker 2: was a big part of free nights and weekends and

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Speaker 2: eventually helping those who couldn't afford a cell phone be

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Speaker 2: able to afford a cell phone now because it was

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Speaker 2: very expensive. So you're welcome, it's no doubt, you know.

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Speaker 2: So during that time, I went looking at a place

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Speaker 2: and it was an older gentleman who wanted to sell

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Speaker 2: me two brownstones for three hundred and fifty thousand dollars.

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Speaker 2: Right now, those brownstones now worth four million dollars. But

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Speaker 2: the key thing was I took two people with me,

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Speaker 2: that with my friends, and they didn't see the vision allly,

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Speaker 2: so was the problem all this? So was the neighborhood.

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Speaker 2: So they were they were saying, like I had this

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Speaker 2: list of one hundred reasons why I should buy it.

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Speaker 2: They only had one reason why I shouldn't. And ironically,

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Speaker 2: that was the one reason that was haunting me. Maybe

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Speaker 2: I shouldn't buy it. So when I got there, I'm like, oh, yeah,

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Speaker 2: we're looking at the place, and they go, Man, the

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Speaker 2: neighborhood's bad. Bro, Man the crack yo. You said, listen though,

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Speaker 2: the rent's gonna pay for these too. Like, I'm gonna

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Speaker 2: be alright, I'm not gonna pay rent.

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Speaker 5: I have this.

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Speaker 3: So I walked away. I didn't buy those two properties.

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Speaker 2: But what's stuck in my mind was anytime you're doing something,

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Speaker 2: you need to surround yourself with like minded people who

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Speaker 2: could see the vision of what you want to do

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Speaker 2: what you want to do, because what you're trying to

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Speaker 2: do maybe if not, maybe it will be beyond what

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Speaker 2: they want to do. Because you become common you gain

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Speaker 2: a common threat with people. With your friendships based on

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Speaker 2: either sport, it's a relationship, but hanging out. Now, when

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Speaker 2: you go outside the normal, you make that thing about

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Speaker 2: something like real estate.

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Speaker 3: See, that's not their willehouse.

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Speaker 2: You just created a new willelhouse for you, and now

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Speaker 2: they don't understand it, and all they saw was the

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Speaker 2: bad thing. I didn't buy it, big mistake. I moved on.

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Speaker 7: I honestly didn't think that's how the story was gonna go.

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Speaker 7: I honestly thought you're gonna be like, yo, I didn't

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Speaker 7: listen to them. I got there and then I'll learn

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Speaker 7: some say so it almost was their fear that was

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Speaker 7: being casted on you, right, one hundred What was Do

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Speaker 7: you remember the one.

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Speaker 6: Thing that they were saying like, this isn't it?

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Speaker 7: Because I would feel like if I got a hundred

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Speaker 7: reasons like at a certain point, that's going to crush

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Speaker 7: yours and yours and they're going to see.

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Speaker 6: My point of view. Yep. So do you remember the

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Speaker 6: one thing that they were like, we can't do this?

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Speaker 2: Yeah, they kept saying drugs crime, right, But what made

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Speaker 2: me not buy it? Because they were my friends and

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Speaker 2: I thought they it's not they didn't have my best

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Speaker 2: interest in mind, But we all thought alike until I

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Speaker 2: developed that other sense of I wanted to do more. So,

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Speaker 2: if you're in a group of ten people and nine

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Speaker 2: of them are saying, yo, let's go to this party,

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Speaker 2: you don't want.

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Speaker 3: To go, You're like, now, what the hell I'll go?

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Speaker 2: So I was in a group it was us three

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Speaker 2: and they were like, yo, don't buy the house, And

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Speaker 2: I said, you know what, I'm not gonna buy it

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Speaker 2: because maybe you're right. So I wasn't equipped with all

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Speaker 2: the knowledge of knowing real estate. I just know what

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Speaker 2: my dad was giving me, and I didn't want to

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Speaker 2: pay rent. I wanted to buy it, So that's why

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Speaker 2: I didn't buy it. But then it comes a part

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Speaker 2: of the story what gets interesting with the cell phones.

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Speaker 2: I'm driving in my car and I get pulled on

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Speaker 2: over by detectives. So they pulled me over and they're going, look,

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Speaker 2: we know what you're doing because it wasn't illegal yet

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Speaker 2: what we were doing with cell phones, it wasn't illegal.

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Speaker 2: There was no crime. So they said, nah, we know

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Speaker 2: you got this job off at Verizon. We suggest you

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Speaker 2: take it, and I turned I turned it down. I'm like,

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Speaker 2: how did y'all know this? They said, well, you're gonna

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Speaker 2: get that letter again, and when you get it, take

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Speaker 2: the job. So I'm sitting there like, yes, sir, you

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Speaker 2: got it. I'm gonna take the job. So I pulls

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Speaker 2: off in my car, but I wanted to double back

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Speaker 2: to go buy my partner to tell them look the

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Speaker 2: jigs up like red Rover nine or get the jigs up.

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Speaker 2: So by the time I get over there, swat cars, cops, barricades,

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Speaker 2: and I pull over, and I'm sitting there with a

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Speaker 2: trunk full of phones and I'm going defining moment, y'all.

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Speaker 2: It's defining moment, Like all right, you just got to

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Speaker 2: pull off.

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Speaker 8: Hey, listen, everybody, this is your man, Steve Harven, my

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Speaker 8: partner's over and Earn Your Leisure. They are kicking off

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Speaker 8: their first invest Fast World tool on October thirty.

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Speaker 2: First, how my gun on me? I'm with Achilles UK.

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Speaker 2: My dang now humph for this finish you said up

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00:14:15,120 --> 00:14:17,679
Speaker 2: enough comfort the finish you your.

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Speaker 8: C it will be get a load of this after

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00:14:20,960 --> 00:14:26,160
Speaker 8: rowal Albert Hall in London, England. This year's speakers list

308
00:14:26,280 --> 00:14:32,280
Speaker 8: include Earn Your Leisure Parents, Jane wall Street, Trapper, Eon

309
00:14:32,560 --> 00:14:37,760
Speaker 8: Dunloft my business development director, to Betie Stevens, nineteen Keys

310
00:14:38,240 --> 00:14:41,120
Speaker 8: and many many more. Get tell tickets before they are

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00:14:41,240 --> 00:14:43,960
Speaker 8: gone at investspecuro dot Com.

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Speaker 3: Like this, there's nothing you can do. They already warned you.

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Speaker 2: You here. Now. If they don't come up to this

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Speaker 2: car and notice you, you cannot look back. You have

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Speaker 2: to move forward with what you want to do. I

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Speaker 2: pulled off. Once I pulled off, that letter came back

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Speaker 2: in Verizon is offering. Yeah, yeah, okay, they could have

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Speaker 2: been offered me any position where I signed. I took

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Speaker 2: that job and at Verizon. From that moment, so that

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Speaker 2: your friend got locked up, yeah, he did for cell phones.

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Speaker 2: He got he got locked up for that. And I don't,

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Speaker 2: you know, want to go into detail of how big

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Speaker 2: it was, but I thought it was only New York

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Speaker 2: that we were servicing. We were servicing like eight states.

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Speaker 5: So he was he was ahead of you. You wasn't

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Speaker 5: fully aware of the whole operation.

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Speaker 2: Yeah, yes, well what it was it was, Nah, this

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Speaker 2: is cool, you know. I was like, nah, just just

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Speaker 2: be cool and quiet and make it here and we

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Speaker 2: good because don't go out ruffling feathers. You know. Then

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Speaker 2: once you start expanding, now they can build things and

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Speaker 2: stuff like that. So yeah, the expansion brought down the

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Speaker 2: empire of the Carters.

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Speaker 7: It felt like the last scene and said it off Yeah,

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Speaker 7: when they watching Cleo exactly and they had the bus

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Speaker 7: like all right, well you can't go help her.

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Speaker 6: You gotta go figure this thing out now exactly.

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Speaker 2: So once I got the job, I said to myself,

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Speaker 2: now I'm making four hundred dollars a week. Now. That

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Speaker 2: job took the job did I I took that job

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Speaker 2: by Verizon. So now you got to imagine I'm going

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Speaker 2: from doing like three to four five thousand dollars a

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Speaker 2: week to making four hundred dollars a week but being safe.

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Speaker 2: And I said, you know what if I would have

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Speaker 2: been arrested, what would my dad think? You know, he's

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Speaker 2: not alive now, but like everything, I would have been

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Speaker 2: sitting there thinking about all those moments, that taking his

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Speaker 2: boots off and all those stories from behind some bars.

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Speaker 2: So now I'm saying to myself, this is my moment

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Speaker 2: to do what I have to do to make him

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Speaker 2: proud and also to lift out that dream that he

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Speaker 2: can never do, which was real estate. So now ninety six,

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Speaker 2: I have another friend who does real estate, and he's like, listen, Storm,

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Speaker 2: I'm gonna go look at these properties.

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Speaker 3: Once you come with me.

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Speaker 2: I said, yeah, because I always wanted to get into

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Speaker 2: real estate, So now come with me. So he takes

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Speaker 2: me to go see a Brownstone. Ironically, he breaks down

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Speaker 2: every single thing on that list that I have back

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Speaker 2: in ninety five, why and with more detail.

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Speaker 3: He said, Tony's going to change.

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Speaker 2: This is what's going on. You see they doing the

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Speaker 2: garden up there and you see they doing this, and

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Speaker 2: I was like, yeah, boom, bought my first brownstone. Got

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Speaker 2: that first brownstone for about three hundred and fifty thousand

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Speaker 2: dollars incredible. Had to do some work on the Browns

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Speaker 2: when I was you know, I had to gut it out.

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Speaker 2: You know, the homes weren't being tooken care of her

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Speaker 2: back then. So there's water, this and that. So I

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Speaker 2: cut out the brownstone, get contractors, rip out the electric,

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Speaker 2: all the plumping, all the plumbing. I'm standing in the basement,

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Speaker 2: I'm looking all the way up. Every floor is ripped out.

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Speaker 2: I'm looking up at the ceiling saying, Yo, my dad

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Speaker 2: would be so proud of me right now. He'll be

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00:17:36,080 --> 00:17:38,399
Speaker 2: so proud of me at this moment. But you know

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Speaker 2: what I also said, Man, I never want to do

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Speaker 2: this again because I created another job for myself. I'm

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Speaker 2: in there working, I'm work working, I'm saying to myself, Wow,

379
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Speaker 2: I had to take days off. I had to use

380
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Speaker 2: my vacation days, my sick days, my holidays, and I said, Yo,

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Speaker 2: this ain't cool. So after I got that completed, I

382
00:18:02,280 --> 00:18:05,560
Speaker 2: totally stepped away from real estate because I did not

383
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Speaker 2: want another job because I already had one and I

384
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Speaker 2: almost lost the job that allowed me to buy the property.

385
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Speaker 2: And this is where the whole thing in my mind

386
00:18:14,560 --> 00:18:18,439
Speaker 2: led up to your job is your first business partner. Period.

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00:18:18,720 --> 00:18:21,040
Speaker 2: Your job is a first business partner. The job allowed

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Speaker 2: me to be able to put it on the application

389
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Speaker 2: to get the down payment to buy the property. The

390
00:18:25,160 --> 00:18:27,200
Speaker 2: job allowed me to be able to pay these bills,

391
00:18:27,240 --> 00:18:28,720
Speaker 2: to get my credit score up to be able to

392
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Speaker 2: put that job on the application and get the down payment. Again.

393
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Speaker 2: The job allowed me the weekends off, the holidays off,

394
00:18:34,280 --> 00:18:36,639
Speaker 2: so technically me and this job are in bed together

395
00:18:36,680 --> 00:18:39,040
Speaker 2: and we're partners. He allowed me to do that. That

396
00:18:39,200 --> 00:18:41,840
Speaker 2: job allowed me. So once I understood that, I said,

397
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Speaker 2: oh okay, now I have to repeat the process of

398
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Speaker 2: doing this without having to do work. That was just

399
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Speaker 2: the tricky part of it. And one thing about real

400
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Speaker 2: estate that people don't tell you. They give you all

401
00:18:53,280 --> 00:18:56,400
Speaker 2: the glorious things about it, which is true by real estate,

402
00:18:56,920 --> 00:18:58,720
Speaker 2: and it's going to change your life. It's going to

403
00:18:58,800 --> 00:19:00,680
Speaker 2: do this, it's going to do that. But what people

404
00:19:00,720 --> 00:19:02,560
Speaker 2: don't talk about, and I really want to try to

405
00:19:02,560 --> 00:19:05,160
Speaker 2: start expanding on this story. My real estate people out there.

406
00:19:05,720 --> 00:19:10,119
Speaker 2: When you become a landlord. Man, Nobody told me. And

407
00:19:10,240 --> 00:19:14,040
Speaker 2: I become a landlord, I would literally inherit every tenant

408
00:19:14,080 --> 00:19:16,359
Speaker 2: as a boss. You know why, because they can tell you,

409
00:19:17,480 --> 00:19:19,320
Speaker 2: I'm not giving you no money until you do this,

410
00:19:20,080 --> 00:19:22,159
Speaker 2: even if it's not something that you're responsible for.

411
00:19:22,800 --> 00:19:25,440
Speaker 3: Getting those phone calls late at night, drunk phone calls.

412
00:19:26,040 --> 00:19:26,840
Speaker 3: I'm locked out.

413
00:19:26,960 --> 00:19:28,800
Speaker 2: Come let me back in. Oh, I got plenty of

414
00:19:28,880 --> 00:19:33,800
Speaker 2: those toilets, tubs, they putting stuff, and they doing all us.

415
00:19:33,840 --> 00:19:37,119
Speaker 2: And I said, I'm not knocking the landlord because it

416
00:19:37,400 --> 00:19:39,520
Speaker 2: educated me on what I didn't want to do.

417
00:19:40,200 --> 00:19:41,960
Speaker 3: But I know I didn't want to do that was

418
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Speaker 3: become a landlord. So I tried to change my mindset.

419
00:19:45,400 --> 00:19:49,879
Speaker 2: The mindset for me was shifting to becoming a CEO

420
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Speaker 2: who's running a business. That was the start of it,

421
00:19:53,680 --> 00:19:58,199
Speaker 2: to transition. I'll keep going, y'all know. So all right,

422
00:19:58,240 --> 00:20:01,720
Speaker 2: so you get your first property ninety nine ninety six

423
00:20:01,840 --> 00:20:04,840
Speaker 2: was the first property. Undred three hundred thousand, three hundred

424
00:20:04,840 --> 00:20:07,359
Speaker 2: fifty thousand and fifty thousand. You got an FHA or

425
00:20:07,400 --> 00:20:11,359
Speaker 2: just traditional traditional traditional convention. They look like thirty thousand

426
00:20:11,400 --> 00:20:13,040
Speaker 2: down something like that. Yeah, I put it, Yeah, about

427
00:20:13,040 --> 00:20:14,679
Speaker 2: thirty a little bit over that down.

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Speaker 5: All right, So then you renovate it and you get

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Speaker 5: that up and running.

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Speaker 2: Yep.

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Speaker 5: But this is why you're working at Horizon while I'm

432
00:20:21,359 --> 00:20:23,240
Speaker 5: a working So at what point do you really start

433
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Speaker 5: to hit your stride? Like, what's the steps that you

434
00:20:25,600 --> 00:20:27,720
Speaker 5: took after that? Like, was it every six months you

435
00:20:27,800 --> 00:20:30,159
Speaker 5: got another property? Did you refinance the first property to

436
00:20:30,200 --> 00:20:32,200
Speaker 5: get your second property? Like, what's the steps that you

437
00:20:32,240 --> 00:20:33,920
Speaker 5: took to actually start building up portfolio?

438
00:20:34,119 --> 00:20:35,440
Speaker 3: Great question, great question.

439
00:20:36,240 --> 00:20:38,840
Speaker 2: What happened was actually, like I said, stop buying properties

440
00:20:38,920 --> 00:20:41,560
Speaker 2: because of the landlord aspect. So I didn't get back

441
00:20:41,640 --> 00:20:45,520
Speaker 2: into real estate until twenty fifteen. You know why, because

442
00:20:45,560 --> 00:20:47,520
Speaker 2: there was nobody who was investing out of state. Think

443
00:20:47,560 --> 00:20:50,399
Speaker 2: about the early nineties. It was hip hop, it was diddy.

444
00:20:50,520 --> 00:20:52,840
Speaker 2: It was like we was hanging out and enjoying ourselves.

445
00:20:53,040 --> 00:20:54,960
Speaker 2: And the people I did know that was doing real estate,

446
00:20:55,040 --> 00:20:56,959
Speaker 2: it was all local. I have my friends that were

447
00:20:57,000 --> 00:20:59,480
Speaker 2: buying properties nearby, and I said, man, I don't want

448
00:20:59,480 --> 00:21:01,000
Speaker 2: to be a landlord because even when we would have

449
00:21:01,040 --> 00:21:04,920
Speaker 2: the discussion, it would be those dilembers, those dilemmas. So

450
00:21:05,000 --> 00:21:07,240
Speaker 2: I said, man, I want to do something else in

451
00:21:07,320 --> 00:21:09,600
Speaker 2: real estate. And my friend of mine he introduced me

452
00:21:09,680 --> 00:21:11,960
Speaker 2: to another friend of his that was investing in real

453
00:21:12,080 --> 00:21:14,880
Speaker 2: estate out of state. He said, nah, I just buy

454
00:21:14,920 --> 00:21:18,040
Speaker 2: properties and I collect rent. I said, you do what,

455
00:21:18,119 --> 00:21:19,639
Speaker 2: and do what and don't have to do what with who?

456
00:21:20,080 --> 00:21:22,080
Speaker 2: He said, Nah, I don't deal with tennants. I said,

457
00:21:22,119 --> 00:21:23,680
Speaker 2: told me more. He said. He gave me a little

458
00:21:23,680 --> 00:21:26,000
Speaker 2: bit of insight, but we didn't talk too long. I said,

459
00:21:26,520 --> 00:21:29,040
Speaker 2: I'm going to look myself and find out about this.

460
00:21:29,600 --> 00:21:31,720
Speaker 2: So now I go to the school of Google. I'm

461
00:21:31,760 --> 00:21:33,960
Speaker 2: looking up out of state real estate things that our

462
00:21:34,040 --> 00:21:36,879
Speaker 2: nature twenty fifteen. Now I go to a place and

463
00:21:36,920 --> 00:21:38,840
Speaker 2: I find a site called Bigger Pockets dot.

464
00:21:38,760 --> 00:21:40,560
Speaker 5: Com shot out the Bigger Pockets.

465
00:21:40,640 --> 00:21:41,720
Speaker 2: Yeah, they oweed me some bread through.

466
00:21:41,880 --> 00:21:43,679
Speaker 5: Oh not, no shout out to Bigger Pockets.

467
00:21:44,440 --> 00:21:46,359
Speaker 7: I'm saying, you know, no shout out to that bread

468
00:21:46,440 --> 00:21:49,760
Speaker 7: is free. The check got a clear, ain't clear, you know.

469
00:21:50,119 --> 00:21:52,359
Speaker 2: So I went on Bigger Pockets and I'm typing in

470
00:21:52,440 --> 00:21:54,760
Speaker 2: all these things about out of state real estate? How

471
00:21:54,800 --> 00:21:57,440
Speaker 2: does it work? And guys, excuse me, guys are really

472
00:21:57,480 --> 00:22:01,840
Speaker 2: giving all the examples of how this work, how it's built,

473
00:22:02,320 --> 00:22:05,440
Speaker 2: and It's one thing that I really love about that place.

474
00:22:06,000 --> 00:22:09,920
Speaker 2: They give you so much information real estate is this tribe.

475
00:22:10,240 --> 00:22:12,960
Speaker 2: When you ask one question, everybody answers. But see what

476
00:22:13,080 --> 00:22:16,480
Speaker 2: I was going wrong with bigger pockets was I kept

477
00:22:16,520 --> 00:22:19,560
Speaker 2: typing in questions and this someone, he reached out to

478
00:22:19,680 --> 00:22:22,920
Speaker 2: me and said, just type in the question in his search.

479
00:22:23,440 --> 00:22:26,000
Speaker 2: Don't keep asking because somebody already asking. You look like

480
00:22:26,080 --> 00:22:28,600
Speaker 2: a newbie, and people know you didn't do your research.

481
00:22:29,000 --> 00:22:31,000
Speaker 3: So I said, okay, cool. So now I'm typing in.

482
00:22:31,640 --> 00:22:34,199
Speaker 2: Where's the best place about of state real estate? How

483
00:22:34,280 --> 00:22:36,000
Speaker 2: to learn more about how to state real estate? Now

484
00:22:36,000 --> 00:22:38,639
Speaker 2: I'm getting this thread. So I noticed in the thread,

485
00:22:38,760 --> 00:22:41,800
Speaker 2: which is key, there are people who are talking a lot,

486
00:22:42,040 --> 00:22:43,479
Speaker 2: and I said, I'm going to reach out to one

487
00:22:43,520 --> 00:22:45,040
Speaker 2: of them because they seem like they want to give

488
00:22:45,280 --> 00:22:47,720
Speaker 2: a lot of information out. So I asked one question

489
00:22:47,800 --> 00:22:49,640
Speaker 2: and one guy I'm thinking about getting out of say

490
00:22:49,680 --> 00:22:51,480
Speaker 2: real estate, what's the best place? So he hits me

491
00:22:51,640 --> 00:22:54,040
Speaker 2: right back. Were going back and forth, back and forth.

492
00:22:54,080 --> 00:22:56,720
Speaker 2: He's giving me great advice. Little did he know he

493
00:22:56,760 --> 00:22:59,239
Speaker 2: would become my mentor. And this is what I mean

494
00:22:59,280 --> 00:23:02,159
Speaker 2: about always asked the right questions. When I first started

495
00:23:02,200 --> 00:23:05,320
Speaker 2: out with my theme was ask, always seek knowledge. It

496
00:23:05,440 --> 00:23:08,000
Speaker 2: is because my goal was to ask the right question,

497
00:23:08,520 --> 00:23:11,440
Speaker 2: and by asking those right questions led me to this

498
00:23:11,680 --> 00:23:15,600
Speaker 2: gentleman here giving me valuable information where he knew I

499
00:23:15,720 --> 00:23:18,440
Speaker 2: wasn't just asking any question. I was trying to get

500
00:23:18,480 --> 00:23:21,040
Speaker 2: to a finish line. And he loved that about me

501
00:23:21,160 --> 00:23:24,040
Speaker 2: that I would take his information do the research. So

502
00:23:24,160 --> 00:23:27,119
Speaker 2: now he gives me all this information. I'm looking for properties,

503
00:23:27,240 --> 00:23:30,320
Speaker 2: I'm learning how to do numbers, I'm learning everything about

504
00:23:30,359 --> 00:23:32,280
Speaker 2: it because there's no system like there is today.

505
00:23:32,359 --> 00:23:34,160
Speaker 7: So like the person who's listening to right now, I'm

506
00:23:34,160 --> 00:23:35,760
Speaker 7: sure they're gonna be like, well, what are the questions

507
00:23:35,800 --> 00:23:37,560
Speaker 7: that I'm supposed to ask? So what at that point

508
00:23:38,000 --> 00:23:40,320
Speaker 7: this is twenty fifteen. Obviously you know some of the

509
00:23:40,359 --> 00:23:41,760
Speaker 7: things will still apply. But what is some of the

510
00:23:41,840 --> 00:23:44,800
Speaker 7: questions that you're asking because you want the exact feedback.

511
00:23:45,000 --> 00:23:47,720
Speaker 2: Yeah, one of the questions I asked was what's the

512
00:23:47,840 --> 00:23:50,440
Speaker 2: best place to start with out of state real estate?

513
00:23:51,200 --> 00:23:53,600
Speaker 3: He gave me locations. He said here in the Midwest.

514
00:23:53,640 --> 00:23:56,200
Speaker 2: You want to do this because of the good weather,

515
00:23:56,880 --> 00:24:00,199
Speaker 2: the rent the higher rents, the lower property costs, all

516
00:24:00,280 --> 00:24:02,800
Speaker 2: the things that new York didn't provide the properties were

517
00:24:02,920 --> 00:24:05,960
Speaker 2: now at this time in twenty fifteen, eight hundred thousand,

518
00:24:06,600 --> 00:24:09,879
Speaker 2: one point two like ridiculous numbers, And that math doesn't

519
00:24:09,920 --> 00:24:13,000
Speaker 2: work if you're trying to be an investor, and cash

520
00:24:13,080 --> 00:24:15,320
Speaker 2: flow off of property that's a million dollars million dollar

521
00:24:15,400 --> 00:24:17,639
Speaker 2: mortgage is about ten thousand dollars. The average rent is

522
00:24:17,680 --> 00:24:20,160
Speaker 2: two thousand dollars, so that's a three thousand dollars hole.

523
00:24:20,320 --> 00:24:22,480
Speaker 2: How do you make that up? So now when you

524
00:24:22,640 --> 00:24:24,720
Speaker 2: learn these numbers, you realize you need to branch out.

525
00:24:24,920 --> 00:24:26,639
Speaker 2: So those were the things he was giving me. I

526
00:24:26,680 --> 00:24:29,080
Speaker 2: would ask what were the best places, what were the

527
00:24:29,119 --> 00:24:31,199
Speaker 2: best tools to learn how to do numbers, what were

528
00:24:31,240 --> 00:24:32,000
Speaker 2: the best books?

529
00:24:32,359 --> 00:24:34,080
Speaker 3: What were He was giving me all that information.

530
00:24:34,240 --> 00:24:37,520
Speaker 2: So guys, when you're trying to get a mentor, make

531
00:24:37,600 --> 00:24:41,240
Speaker 2: sure the question is how, and when he gives you

532
00:24:41,359 --> 00:24:43,680
Speaker 2: the how, you go do the work and then come

533
00:24:43,760 --> 00:24:47,320
Speaker 2: back showing you actually did the work so he can

534
00:24:47,440 --> 00:24:49,600
Speaker 2: know that he's not just wasting his time. That was

535
00:24:49,680 --> 00:24:50,240
Speaker 2: crucial for me.

536
00:24:50,680 --> 00:24:51,719
Speaker 6: Do your research.

537
00:24:51,840 --> 00:24:53,959
Speaker 5: So when did you buy your first out of state property?

538
00:24:54,200 --> 00:24:55,720
Speaker 5: And where what state was it?

539
00:24:55,800 --> 00:24:58,800
Speaker 2: In twenty fifteen, I bought a property that same year

540
00:24:58,840 --> 00:25:00,000
Speaker 2: and it was in Indianapolis.

541
00:25:00,520 --> 00:25:02,480
Speaker 7: Erner checked this out. If you're looking to add to

542
00:25:02,600 --> 00:25:05,560
Speaker 7: your podcast list, I got on. You definitely need to

543
00:25:05,640 --> 00:25:09,480
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544
00:25:09,520 --> 00:25:12,560
Speaker 7: When Black People Get Rich? Hosted by Chad Sanders, the

545
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546
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547
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548
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Speaker 7: while black in America. For all my young black entrepreneurs,

549
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550
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551
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552
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553
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554
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555
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556
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557
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558
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559
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560
00:25:58,880 --> 00:26:00,520
Speaker 3: I bought that property chain my life.

561
00:26:00,880 --> 00:26:02,359
Speaker 2: Like a lot of people would think that buying a

562
00:26:02,400 --> 00:26:05,359
Speaker 2: property a brownstone for about three hundred and fifty thousand

563
00:26:05,400 --> 00:26:07,760
Speaker 2: today which is worth almost two million dollars, will be

564
00:26:07,840 --> 00:26:09,879
Speaker 2: the property that changed my life. But you have to

565
00:26:09,960 --> 00:26:14,760
Speaker 2: think that was That was nineteen ninety six buying that property,

566
00:26:14,960 --> 00:26:16,960
Speaker 2: So it took over twenty years for that property to

567
00:26:17,040 --> 00:26:17,959
Speaker 2: be worth what it is now.

568
00:26:18,840 --> 00:26:20,359
Speaker 6: Did you held the property, Yeah, I.

569
00:26:20,400 --> 00:26:23,240
Speaker 2: Still have that property now, right, I still have that

570
00:26:23,359 --> 00:26:25,800
Speaker 2: property now, But during that time then it there. People

571
00:26:25,840 --> 00:26:28,880
Speaker 2: always ask, well, that property is the one that puts

572
00:26:28,880 --> 00:26:31,840
Speaker 2: you over the tipping point and made you a millionaire,

573
00:26:31,840 --> 00:26:33,920
Speaker 2: And I would tell them no, you know why because

574
00:26:34,280 --> 00:26:36,760
Speaker 2: the rent doesn't equate to the value of the home.

575
00:26:37,160 --> 00:26:40,040
Speaker 2: So when someone says, oh, Grandma has a house here

576
00:26:40,119 --> 00:26:43,480
Speaker 2: worth two million dollars, Grandma can't go get a loan

577
00:26:43,800 --> 00:26:46,160
Speaker 2: out on that house because she doesn't have a way

578
00:26:46,240 --> 00:26:48,920
Speaker 2: to pay for the cash out of that home. The

579
00:26:49,040 --> 00:26:52,439
Speaker 2: money is in the walls. So when if someone likes

580
00:26:52,440 --> 00:26:56,040
Speaker 2: say Grandma dies and now the family wants to decide

581
00:26:56,080 --> 00:26:58,359
Speaker 2: on selling the home or keeping a home, I always

582
00:26:58,400 --> 00:27:01,200
Speaker 2: give the analogy of this. I'm not mad if you

583
00:27:01,320 --> 00:27:04,560
Speaker 2: sell the home just have something to do with the

584
00:27:04,680 --> 00:27:07,879
Speaker 2: money with selling their home, because grandma wants that money

585
00:27:07,920 --> 00:27:10,879
Speaker 2: to create a legacy. Because you have to think, if

586
00:27:10,920 --> 00:27:12,919
Speaker 2: you're going to hold a home worth two million dollars,

587
00:27:13,119 --> 00:27:15,760
Speaker 2: collect three thousand dollars worth of rent, Grandma three kids

588
00:27:15,840 --> 00:27:18,760
Speaker 2: to spend three splitting three thousand dollars worth of rent,

589
00:27:19,119 --> 00:27:21,119
Speaker 2: how far is that going to change your legacy. But

590
00:27:21,200 --> 00:27:22,919
Speaker 2: if you sold a house for two million, and now

591
00:27:23,240 --> 00:27:25,280
Speaker 2: you buy more real estate, you create a trust all

592
00:27:25,320 --> 00:27:28,720
Speaker 2: those things. Now Grandma is smiling down going. That's why

593
00:27:28,760 --> 00:27:31,920
Speaker 2: I bought that house for thirty thousand dollars for y'all

594
00:27:32,000 --> 00:27:35,119
Speaker 2: to do that. So I definitely believe in selling Grandma's

595
00:27:35,119 --> 00:27:37,720
Speaker 2: house with a purpose because a lot of people can't

596
00:27:37,720 --> 00:27:41,480
Speaker 2: pull the cash out. So me buying a house in Indianapolis,

597
00:27:41,560 --> 00:27:44,639
Speaker 2: it was a forty thousand dollar house. I got a

598
00:27:44,720 --> 00:27:47,080
Speaker 2: loan for that house. And this is another thing I

599
00:27:47,200 --> 00:27:49,119
Speaker 2: like to give people advice as I go along in

600
00:27:49,200 --> 00:27:51,680
Speaker 2: the conversation. If that's okay to get a loan on

601
00:27:51,720 --> 00:27:54,600
Speaker 2: a forty thousand dollar property, I always recommend looking at

602
00:27:54,680 --> 00:27:57,680
Speaker 2: local banks in the state where the property is located.

603
00:27:57,960 --> 00:27:59,800
Speaker 2: So I got a loan in that state for forty

604
00:27:59,840 --> 00:28:03,320
Speaker 2: thousand dollars. That was about eight thousand dollars down. The

605
00:28:03,400 --> 00:28:07,080
Speaker 2: mortgage was two hundred and fifty dollars. Section eight was

606
00:28:07,119 --> 00:28:11,640
Speaker 2: paying eight hundred and fifty dollars. So I'm like, I'm

607
00:28:11,720 --> 00:28:14,880
Speaker 2: making like six hundred dollars a month off this property.

608
00:28:15,119 --> 00:28:16,359
Speaker 2: So at the end of the year it was a

609
00:28:16,400 --> 00:28:18,040
Speaker 2: little less than six hundred because I know I was

610
00:28:18,080 --> 00:28:21,800
Speaker 2: making six thousand dollars a year from an eight thousand

611
00:28:21,840 --> 00:28:25,120
Speaker 2: dollars investment. So I'm like, man, a lot of people

612
00:28:25,240 --> 00:28:28,159
Speaker 2: here that and go, that's not a big amount. But

613
00:28:28,280 --> 00:28:30,400
Speaker 2: the key is it isn't the amount, it's the percentage.

614
00:28:30,920 --> 00:28:33,200
Speaker 2: Someone tells you you can make eighty percent off your money.

615
00:28:33,760 --> 00:28:36,160
Speaker 2: You should look at that percentage and not how much

616
00:28:36,280 --> 00:28:38,680
Speaker 2: that amount is. Someone says, give me one hundred dollars,

617
00:28:38,720 --> 00:28:41,680
Speaker 2: I'm gonna give you eighty dollars every year from one

618
00:28:41,760 --> 00:28:43,080
Speaker 2: hundred dollars. Why not.

619
00:28:43,200 --> 00:28:44,800
Speaker 3: It's eighty percent off the one hundred dollars.

620
00:28:45,080 --> 00:28:47,200
Speaker 2: So anyway, I'm making six thousand dollars off the eight

621
00:28:47,280 --> 00:28:50,320
Speaker 2: thousand dollars, and I go, wow, I'm making my money back.

622
00:28:50,560 --> 00:28:54,560
Speaker 2: You know what. I'm at work, I'm thinking this was simple.

623
00:28:54,960 --> 00:28:57,000
Speaker 2: I don't have to deal with tenants. I don't have

624
00:28:57,040 --> 00:28:59,640
Speaker 2: to deal with anything else. How about I buy another

625
00:28:59,680 --> 00:29:03,400
Speaker 2: one and do this again. And in formulating that idea

626
00:29:03,480 --> 00:29:06,160
Speaker 2: and that structure, I said, if I'm making six thousand

627
00:29:06,160 --> 00:29:08,960
Speaker 2: dollars a year and I'm making sixty thousand dollars a

628
00:29:09,080 --> 00:29:11,800
Speaker 2: year work, how many properties do I need to no

629
00:29:11,880 --> 00:29:15,600
Speaker 2: longer have to come to work? Ten properties? I could

630
00:29:15,640 --> 00:29:18,680
Speaker 2: do that. It's either ten properties in ten years of

631
00:29:18,760 --> 00:29:22,880
Speaker 2: retallying thirty years. That sounded much better. So now once

632
00:29:22,960 --> 00:29:25,040
Speaker 2: I do the math on how that works. Key thing

633
00:29:25,160 --> 00:29:27,160
Speaker 2: that I didn't include, and I want everybody to look

634
00:29:27,200 --> 00:29:29,360
Speaker 2: at this also, I'm a drop it, y'all pick this up.

635
00:29:30,720 --> 00:29:32,760
Speaker 2: We do not value what our tax returns can do

636
00:29:32,920 --> 00:29:36,280
Speaker 2: for us. We get a tax return, is we treat ourselves.

637
00:29:36,760 --> 00:29:38,480
Speaker 2: I said, you know what, I got six thousand dollars

638
00:29:38,560 --> 00:29:41,920
Speaker 2: coming in. I'm getting seven thousand dollars for my tax return.

639
00:29:42,880 --> 00:29:47,160
Speaker 2: That's fifteen thousand dollars. Excuse me, seven fort No excuse men,

640
00:29:47,280 --> 00:29:50,000
Speaker 2: that's thirteen thousand dollars. I just bought a property for

641
00:29:50,080 --> 00:29:52,800
Speaker 2: eight thousand dollars. And now on top of that, I said,

642
00:29:52,800 --> 00:29:56,480
Speaker 2: I'm going to keep two hundred dollars a month from work.

643
00:29:56,680 --> 00:29:59,560
Speaker 2: So I said, Yo, if I was thinking one property

644
00:29:59,600 --> 00:30:02,720
Speaker 2: a year, ten years, I can now leave. Now I

645
00:30:02,800 --> 00:30:05,320
Speaker 2: have enough to buy two properties a year. I could

646
00:30:05,360 --> 00:30:07,520
Speaker 2: cut that time and have I could leave work in

647
00:30:07,600 --> 00:30:10,800
Speaker 2: five years about two properties a year. So now I'm

648
00:30:10,880 --> 00:30:14,920
Speaker 2: really now I'm going to work with a purpose. The

649
00:30:15,000 --> 00:30:18,040
Speaker 2: biggest thing that we run into personally for myself, is

650
00:30:18,120 --> 00:30:20,160
Speaker 2: where we get caught up. We're not liking our job,

651
00:30:20,200 --> 00:30:24,160
Speaker 2: and the frustration comes in. It's because we don't see

652
00:30:24,200 --> 00:30:27,880
Speaker 2: the exit sign. We get up and go, oh, man,

653
00:30:27,960 --> 00:30:32,000
Speaker 2: I can't do this, you know. So I used to

654
00:30:32,080 --> 00:30:33,720
Speaker 2: get up six thirty to have to be to work

655
00:30:33,760 --> 00:30:36,720
Speaker 2: at seven. I needed every traffic light to always be

656
00:30:36,840 --> 00:30:38,600
Speaker 2: on time. I was going to be late and asked me,

657
00:30:38,720 --> 00:30:41,080
Speaker 2: did I care? I didn't care. And that's a big

658
00:30:41,200 --> 00:30:43,680
Speaker 2: problem because I was now giving people with the power

659
00:30:43,760 --> 00:30:46,360
Speaker 2: to fire me to actually do what they want to

660
00:30:46,400 --> 00:30:47,520
Speaker 2: do most than fire me.

661
00:30:48,840 --> 00:30:50,240
Speaker 3: I had to readjust that thinking.

662
00:30:50,520 --> 00:30:52,720
Speaker 2: And now once that happened, and I started getting up

663
00:30:52,720 --> 00:30:55,840
Speaker 2: at six o'clock now to go over my plan because

664
00:30:55,840 --> 00:30:56,680
Speaker 2: I know I was leaving.

665
00:30:57,160 --> 00:30:58,760
Speaker 3: Now I lead a house about six twenty.

666
00:30:59,240 --> 00:31:02,240
Speaker 2: Now I get the work and now I'm happy going Yeah,

667
00:31:02,800 --> 00:31:05,040
Speaker 2: I'm gonna be out of here in five years.

668
00:31:05,880 --> 00:31:06,960
Speaker 3: And they couldn't figure it out.

669
00:31:07,080 --> 00:31:08,760
Speaker 7: I know, I know that feeling. I know that feeling

670
00:31:08,840 --> 00:31:10,840
Speaker 7: going to work. So here's the thing though, Right, you're

671
00:31:10,880 --> 00:31:14,080
Speaker 7: in Brooklyn, Yes, the property is in Indiana. Uh huh,

672
00:31:14,280 --> 00:31:18,120
Speaker 7: So how who's managing are you at that point? Having

673
00:31:18,160 --> 00:31:19,560
Speaker 7: a property manager? Because I know one of the things

674
00:31:19,640 --> 00:31:22,160
Speaker 7: is that you don't even see the properties. No, I've

675
00:31:22,200 --> 00:31:24,479
Speaker 7: never seen You've never even seen the property, So how

676
00:31:24,560 --> 00:31:27,080
Speaker 7: does you I mean, you're buying it, but you're not

677
00:31:27,120 --> 00:31:29,200
Speaker 7: seeing it. So who's managing the property? Do you have

678
00:31:29,280 --> 00:31:31,240
Speaker 7: property management at the time or is that like a

679
00:31:31,320 --> 00:31:32,920
Speaker 7: lesson that you have to learn during this process.

680
00:31:33,000 --> 00:31:34,800
Speaker 2: Well, that's a great thing about having a mentor one

681
00:31:34,840 --> 00:31:37,680
Speaker 2: hundred percent. I have a property manager that oversees the

682
00:31:37,760 --> 00:31:40,760
Speaker 2: property right. And the key thing with this when buying

683
00:31:40,800 --> 00:31:45,840
Speaker 2: a property sight unseen, tenant not being seen, because that's

684
00:31:45,880 --> 00:31:48,240
Speaker 2: another thing. Also, I bought properties that of tenant occupied.

685
00:31:48,280 --> 00:31:48,680
Speaker 2: I get it more.

686
00:31:48,720 --> 00:31:50,000
Speaker 6: We're gonna get that. Yeah, were gonna get that.

687
00:31:50,160 --> 00:31:51,640
Speaker 2: I'm gonna stay stay in the zone, you know what

688
00:31:51,680 --> 00:31:55,440
Speaker 2: I mean. So the property manager, the key thing about

689
00:31:55,480 --> 00:31:57,360
Speaker 2: that is that's when the mindset changes.

690
00:31:57,960 --> 00:31:59,240
Speaker 3: It all starts with the mindset.

691
00:31:59,280 --> 00:32:02,480
Speaker 2: You can't build any type of strong structure if your

692
00:32:02,560 --> 00:32:05,400
Speaker 2: foundation isn't correct. So once I have the mindset of

693
00:32:05,560 --> 00:32:09,960
Speaker 2: understanding that I don't want to be a landlord anymore,

694
00:32:10,320 --> 00:32:12,880
Speaker 2: I don't want to see properties. I want to delegate

695
00:32:13,040 --> 00:32:16,720
Speaker 2: duties to someone because property management only wants ten percent,

696
00:32:17,120 --> 00:32:20,120
Speaker 2: so that means I'm making ninety percent. They're doing one

697
00:32:20,200 --> 00:32:22,440
Speaker 2: hundred percent of the work, and I'm keeping one hundred

698
00:32:22,480 --> 00:32:24,720
Speaker 2: percent of my time. The key thing was just finding

699
00:32:24,760 --> 00:32:28,040
Speaker 2: the right property management company. They place the tenants, they

700
00:32:28,120 --> 00:32:31,040
Speaker 2: deal with evictions, they deal with fixing. All I have

701
00:32:31,160 --> 00:32:33,440
Speaker 2: to do is concentrate on my plan, which will be

702
00:32:33,480 --> 00:32:36,840
Speaker 2: allowing me to leave work in five years. So finding

703
00:32:36,880 --> 00:32:40,200
Speaker 2: the right property management company is always best to do

704
00:32:40,400 --> 00:32:43,040
Speaker 2: that and to expand your horizon. How will you be

705
00:32:43,120 --> 00:32:45,760
Speaker 2: able to grow what you're trying to do if you're

706
00:32:45,760 --> 00:32:47,920
Speaker 2: trying to do all the work. I believe that you

707
00:32:48,040 --> 00:32:51,040
Speaker 2: can't be the janitor, you can't be the electrician, you

708
00:32:51,200 --> 00:32:53,920
Speaker 2: can't be the plumber, and you can't be the CEO

709
00:32:54,280 --> 00:32:56,280
Speaker 2: if you want to take your company to the next level,

710
00:32:56,440 --> 00:32:57,960
Speaker 2: because all you have to do is look from the

711
00:32:58,080 --> 00:33:01,640
Speaker 2: seat of a CEO and actual company understand his value

712
00:33:01,720 --> 00:33:05,240
Speaker 2: comes in by delegating duties and overseeing the mission. And

713
00:33:05,360 --> 00:33:08,400
Speaker 2: his mission is to grow the company by having assets

714
00:33:08,640 --> 00:33:11,320
Speaker 2: that are making money. And that's where I get into

715
00:33:11,360 --> 00:33:13,080
Speaker 2: buying my assets that are tendant occupied.

716
00:33:13,080 --> 00:33:14,719
Speaker 7: All right, so we got let me get these states, right,

717
00:33:14,720 --> 00:33:16,600
Speaker 7: and if I miss one, forgive me. Okay, no doubt

718
00:33:16,600 --> 00:33:20,160
Speaker 7: because I didn't even have Indiana. I got Alabama, I

719
00:33:20,280 --> 00:33:24,800
Speaker 7: got Wisconsin City, Milwaukee, we got Georgia, Florida, Ohio.

720
00:33:25,760 --> 00:33:30,560
Speaker 3: Yes I miss any Indiana Ohio. I think that's it.

721
00:33:30,640 --> 00:33:31,400
Speaker 3: I'm gonna be honest.

722
00:33:31,680 --> 00:33:35,640
Speaker 2: The place, the location doesn't matter to me, right because

723
00:33:35,680 --> 00:33:39,120
Speaker 2: the Italia, United States is my marketplace. So I don't

724
00:33:39,160 --> 00:33:41,360
Speaker 2: get caught up where it's at. I only get caught

725
00:33:41,440 --> 00:33:44,120
Speaker 2: up in what that asset is making.

726
00:33:44,400 --> 00:33:46,080
Speaker 7: Well, I'll bring up the states because I'm trying to

727
00:33:46,080 --> 00:33:48,640
Speaker 7: figure out it is a property manager handling all those properties.

728
00:33:48,680 --> 00:33:51,400
Speaker 2: There we go, No, you have a property manage for

729
00:33:51,440 --> 00:33:51,719
Speaker 2: each state.

730
00:33:52,040 --> 00:33:53,360
Speaker 6: State was going with?

731
00:33:53,560 --> 00:33:56,200
Speaker 2: You need a property management for each state. And the

732
00:33:56,320 --> 00:33:59,800
Speaker 2: key thing is you become a property manager. We can

733
00:33:59,840 --> 00:34:03,120
Speaker 2: tell touch that topic later. You become the property manager,

734
00:34:03,160 --> 00:34:05,280
Speaker 2: but you have a property management company for each state

735
00:34:05,320 --> 00:34:06,240
Speaker 2: to run those properties.

736
00:34:06,400 --> 00:34:09,600
Speaker 5: Gotcha, So how did you find how'd you find your

737
00:34:09,600 --> 00:34:11,719
Speaker 5: first property? And how do you find property if you're

738
00:34:11,760 --> 00:34:14,360
Speaker 5: not actually physically going to these locations? How do you

739
00:34:14,400 --> 00:34:15,200
Speaker 5: find these properties?

740
00:34:15,400 --> 00:34:16,880
Speaker 2: Man? You guys come with good questions.

741
00:34:17,160 --> 00:34:18,960
Speaker 3: Let them roll out, Let them roll. How do I

742
00:34:19,040 --> 00:34:19,760
Speaker 3: find properties?

743
00:34:20,080 --> 00:34:23,080
Speaker 2: The key thing for me is the place is simple

744
00:34:23,160 --> 00:34:28,880
Speaker 2: sites like real to, Zillow, Trulia, Craigslists, Facebook groups, all

745
00:34:28,960 --> 00:34:32,239
Speaker 2: those places you're looking for properties. Now there's this thing

746
00:34:32,320 --> 00:34:35,120
Speaker 2: where there's a shortage of houses, there's a shortage of properties.

747
00:34:35,120 --> 00:34:37,480
Speaker 2: There's a shortage. And the reason why there isn't a

748
00:34:37,520 --> 00:34:40,440
Speaker 2: shortage in my space because I'm not looking to buy

749
00:34:40,440 --> 00:34:43,440
Speaker 2: a property as a homeowner. Biggest amount of people who

750
00:34:43,440 --> 00:34:46,080
Speaker 2: are looking for homes or homeowners. The next group are

751
00:34:46,120 --> 00:34:49,279
Speaker 2: people want to find distress properties that they can add

752
00:34:49,400 --> 00:34:52,200
Speaker 2: value and do work to it. But when I search

753
00:34:52,280 --> 00:34:55,160
Speaker 2: for properties, I go into the search bar and I

754
00:34:55,239 --> 00:35:00,520
Speaker 2: search for tenant occupy properties section eight properties. How many

755
00:35:00,560 --> 00:35:04,440
Speaker 2: people are searching that? Very few? So I have a

756
00:35:04,480 --> 00:35:08,120
Speaker 2: whole litany of properties that are just there for me

757
00:35:08,840 --> 00:35:12,000
Speaker 2: because the mindset is I'm looking for home to place

758
00:35:12,040 --> 00:35:15,120
Speaker 2: a tenant. I'm looking for home to place a tenant.

759
00:35:15,800 --> 00:35:18,839
Speaker 2: But if you think for me as a CEO, where

760
00:35:19,280 --> 00:35:23,480
Speaker 2: I'm looking to buy an asset that's making money. So

761
00:35:23,560 --> 00:35:26,560
Speaker 2: I'm looking for businesses. It's just so happened. Those businesses

762
00:35:26,680 --> 00:35:29,960
Speaker 2: are properties and the tenants aren't those So I look

763
00:35:30,040 --> 00:35:33,920
Speaker 2: for properties that are Section eight, preferably Section eight. And

764
00:35:34,120 --> 00:35:38,200
Speaker 2: the reason why is because government's living laid on rent.

765
00:35:39,640 --> 00:35:42,919
Speaker 2: Governance never laid on rent during COVID. When I first

766
00:35:43,040 --> 00:35:45,160
Speaker 2: was doing this structure, a lot of people would say, man,

767
00:35:45,239 --> 00:35:47,200
Speaker 2: I don't want to deal with Section eight properties. Man,

768
00:35:47,480 --> 00:35:49,839
Speaker 2: they do this, they do that. But I tell them

769
00:35:49,920 --> 00:35:53,320
Speaker 2: that in these other states where people are not on

770
00:35:53,440 --> 00:35:55,960
Speaker 2: top of each other and things of that nature, it's

771
00:35:56,000 --> 00:35:58,440
Speaker 2: more than laid back. You know. It's not like you

772
00:35:58,560 --> 00:36:01,080
Speaker 2: have to come home, you elevates broke, you're walking up

773
00:36:01,080 --> 00:36:04,840
Speaker 2: the steps, thirty houses, everybody's on top of each other. No,

774
00:36:05,040 --> 00:36:08,320
Speaker 2: these people going to work that they may need assistance,

775
00:36:08,320 --> 00:36:10,560
Speaker 2: they may not need assistance, but they're taking care of

776
00:36:10,640 --> 00:36:13,320
Speaker 2: those properties. So that's a money maker for me. And

777
00:36:13,400 --> 00:36:15,480
Speaker 2: when I was buying those people really, like I said,

778
00:36:15,640 --> 00:36:17,840
Speaker 2: was looking at it as a negative. But when COVID

779
00:36:17,920 --> 00:36:20,400
Speaker 2: hit and a lot of my investor friends were not

780
00:36:20,640 --> 00:36:23,319
Speaker 2: getting rent and we would have these discussions and they

781
00:36:23,320 --> 00:36:26,480
Speaker 2: would storm how you doing? But I can't relate to

782
00:36:26,600 --> 00:36:29,760
Speaker 2: y'all like I can't because I'm still getting fifteen thousand

783
00:36:29,760 --> 00:36:31,840
Speaker 2: dollars a month in rent continuously.

784
00:36:32,640 --> 00:36:34,879
Speaker 6: Section eight. I know VA is something that you spoke

785
00:36:34,920 --> 00:36:37,120
Speaker 6: about and long term residents.

786
00:36:37,280 --> 00:36:40,080
Speaker 7: Yes, yes, talk about the importance of that, right, Because

787
00:36:41,080 --> 00:36:42,680
Speaker 7: I mean one of the things and I heard in

788
00:36:43,160 --> 00:36:44,719
Speaker 7: I heard you speak about it was rent rules. I

789
00:36:44,719 --> 00:36:46,680
Speaker 7: haven't heard people really talk about rent rules. But now

790
00:36:46,719 --> 00:36:49,640
Speaker 7: when you think about it, right, that's the proven method. Right,

791
00:36:50,040 --> 00:36:54,040
Speaker 7: we're seeing people paying this is they're productive. They haven't

792
00:36:54,080 --> 00:36:55,839
Speaker 7: been laid how a poort that is because I think

793
00:36:55,880 --> 00:36:58,359
Speaker 7: that's a step that I think I've heard anybody really

794
00:36:58,360 --> 00:37:00,480
Speaker 7: talk about when we talk about real estate earns. What's

795
00:37:00,520 --> 00:37:02,480
Speaker 7: going on as you gear a fall. You need the

796
00:37:02,600 --> 00:37:04,560
Speaker 7: right people on your team that help your small business

797
00:37:04,640 --> 00:37:07,680
Speaker 7: fire on all cylinders. LinkedIn jobs is here to make

798
00:37:07,719 --> 00:37:09,640
Speaker 7: it easier to find the people you want to talk to,

799
00:37:10,120 --> 00:37:13,760
Speaker 7: faster and for free. When we're looking for a sound engineer,

800
00:37:13,920 --> 00:37:16,719
Speaker 7: a graphic designer, or an editor, LinkedIn jobs is the

801
00:37:16,800 --> 00:37:19,480
Speaker 7: first place we go create a free job post and

802
00:37:19,560 --> 00:37:22,000
Speaker 7: minutes on LinkedIn jobs to reach your network and beyond

803
00:37:22,040 --> 00:37:25,000
Speaker 7: to the world's largest professional network of over eight hundred

804
00:37:25,000 --> 00:37:28,480
Speaker 7: and ten million people. Then add your job in the

805
00:37:28,520 --> 00:37:31,800
Speaker 7: purple hiring hashtag frame on your LinkedIn profile to spread

806
00:37:31,800 --> 00:37:34,080
Speaker 7: the word that you're hiring so your network can help

807
00:37:34,120 --> 00:37:36,520
Speaker 7: you find the right people to hire. Simple tools like

808
00:37:36,560 --> 00:37:39,120
Speaker 7: screening questions make it easy to focus on candidates with

809
00:37:39,320 --> 00:37:41,720
Speaker 7: just the right skills and experience, so you can quickly

810
00:37:41,800 --> 00:37:45,319
Speaker 7: prioritize who you like to interview and hire. It's why

811
00:37:45,400 --> 00:37:48,760
Speaker 7: small businesses rate LinkedIn jobs number one, and delivering quality

812
00:37:48,840 --> 00:37:52,560
Speaker 7: hires versus leading competitors. LinkedIn Jobs helps you find the

813
00:37:52,680 --> 00:37:55,440
Speaker 7: candidates you want to talk to faster. Did you know

814
00:37:55,600 --> 00:37:59,319
Speaker 7: every week, nearly forty million job seekers visit LinkedIn Post

815
00:37:59,360 --> 00:38:02,240
Speaker 7: your job for free at LinkedIn dot com slash eyl

816
00:38:02,600 --> 00:38:06,480
Speaker 7: that's LinkedIn dot com slash eyl to post your job

817
00:38:06,640 --> 00:38:07,040
Speaker 7: for free.

818
00:38:07,440 --> 00:38:08,719
Speaker 6: Terms and conditions apply.

819
00:38:08,800 --> 00:38:11,279
Speaker 2: Yes, sir, and I'll take credit for that. Don't worry,

820
00:38:11,320 --> 00:38:13,600
Speaker 2: I'm gonna pick that up. I'll take that definitely, one

821
00:38:13,680 --> 00:38:16,320
Speaker 2: hundred percent, because, like I said, it's like buying a company.

822
00:38:16,600 --> 00:38:18,880
Speaker 2: So if I'm looking for a long term tenant, preferably

823
00:38:19,440 --> 00:38:21,439
Speaker 2: they've been living there over a year and a half.

824
00:38:21,840 --> 00:38:23,440
Speaker 3: And then I request a rent roll.

825
00:38:23,760 --> 00:38:26,680
Speaker 2: A rent roll strictly states and shows how long they've

826
00:38:26,719 --> 00:38:28,440
Speaker 2: been paying rent and if it's been on time, if

827
00:38:28,480 --> 00:38:30,840
Speaker 2: it's been late. So if I'm looking at this asset

828
00:38:30,960 --> 00:38:34,200
Speaker 2: and somebody says, here's the payment structure from this asset,

829
00:38:34,400 --> 00:38:36,799
Speaker 2: they've never defaulted on a payment for an entire year

830
00:38:36,800 --> 00:38:39,239
Speaker 2: and a half, why am I not gonna buy it?

831
00:38:39,960 --> 00:38:41,840
Speaker 2: If I buy it, what they're gonna stop making payments?

832
00:38:42,160 --> 00:38:44,359
Speaker 2: So now I'm like, yeah, I'm buying that company. I'm

833
00:38:44,440 --> 00:38:46,520
Speaker 2: buying that asset because the money has been proven. It

834
00:38:46,600 --> 00:38:50,360
Speaker 2: also proves another thing. Either they work city, state, federal,

835
00:38:50,440 --> 00:38:52,840
Speaker 2: or government jobs and they weren't impacted by COVID.

836
00:38:53,280 --> 00:38:56,359
Speaker 3: Whatever job they have is needed. So I really want

837
00:38:56,400 --> 00:38:56,840
Speaker 3: that tenant.

838
00:38:57,200 --> 00:38:58,680
Speaker 2: And I'll give this example to a lot of my

839
00:38:58,760 --> 00:39:01,120
Speaker 2: mentees that I teach, Say, if you want to buy

840
00:39:01,120 --> 00:39:04,960
Speaker 2: a property, I have this nice shiny object, brand newvenovated property.

841
00:39:05,480 --> 00:39:08,040
Speaker 2: You can get fifteen hundred dollars in rent. You just

842
00:39:08,080 --> 00:39:09,960
Speaker 2: got to go put a tenant in there. Or there's

843
00:39:10,000 --> 00:39:12,480
Speaker 2: this other property somebody's been living in there, they've been

844
00:39:12,520 --> 00:39:15,600
Speaker 2: paying one thousand dollars a month, the property is doing well,

845
00:39:15,640 --> 00:39:18,879
Speaker 2: they've never been late for two years. Which one would

846
00:39:18,920 --> 00:39:21,080
Speaker 2: you want? You would go find the tenant. Now you

847
00:39:21,200 --> 00:39:23,640
Speaker 2: may lose one month of rent, two months of rent

848
00:39:23,680 --> 00:39:25,600
Speaker 2: till you find a new tenant in there. Then you

849
00:39:25,680 --> 00:39:27,440
Speaker 2: get a tenant you don't really know the history. You

850
00:39:27,480 --> 00:39:30,280
Speaker 2: don't really know if their job could whipstand a COVID

851
00:39:30,320 --> 00:39:34,040
Speaker 2: situation or a downturn, or someone who's been proven that

852
00:39:34,200 --> 00:39:38,840
Speaker 2: you got twelve thousand dollars coming every single year with

853
00:39:38,960 --> 00:39:41,480
Speaker 2: a mortgage of about five hundred dollars, Which one you want?

854
00:39:42,600 --> 00:39:43,399
Speaker 6: I'm taking the letter.

855
00:39:43,680 --> 00:39:45,800
Speaker 5: The rent road is very important to number Matt. We

856
00:39:45,920 --> 00:39:48,160
Speaker 5: brought a property with Matt and he was talking about that.

857
00:39:48,239 --> 00:39:52,200
Speaker 5: He wanted to check that out to see the rent history. Yeah,

858
00:39:52,320 --> 00:39:54,000
Speaker 5: and that's something that I don't think a lot of

859
00:39:54,040 --> 00:39:58,240
Speaker 5: people are talking enough about because that's kind of gonna

860
00:39:58,320 --> 00:39:59,960
Speaker 5: give you a window of what you're getting.

861
00:40:00,280 --> 00:40:00,440
Speaker 1: Yep.

862
00:40:00,480 --> 00:40:01,919
Speaker 5: But you could be buying a property and the person

863
00:40:02,000 --> 00:40:04,400
Speaker 5: has to pay rent for two years, especially if it's

864
00:40:04,400 --> 00:40:06,239
Speaker 5: state like New York where you really can't even kick

865
00:40:06,280 --> 00:40:08,320
Speaker 5: people out. It might take two years to kick a

866
00:40:08,400 --> 00:40:11,399
Speaker 5: tenant out, So you gotta know what you're getting yourself into.

867
00:40:11,600 --> 00:40:13,960
Speaker 5: And like you said, that'll show even if they're late,

868
00:40:14,000 --> 00:40:17,440
Speaker 5: if they're late every single month, that's a habit. Yeah,

869
00:40:18,160 --> 00:40:19,040
Speaker 5: like that's the right flag.

870
00:40:19,520 --> 00:40:21,600
Speaker 7: Three late payments in a year, you see these things.

871
00:40:21,760 --> 00:40:23,480
Speaker 7: It's like the same way on a credit report, right,

872
00:40:24,320 --> 00:40:27,120
Speaker 7: if they see three late payments of any payment on

873
00:40:27,360 --> 00:40:29,719
Speaker 7: your credit history, now you're not as trustworthy. And so

874
00:40:29,800 --> 00:40:31,440
Speaker 7: if you look at it from that mindset, it makes

875
00:40:31,480 --> 00:40:33,080
Speaker 7: more sense, like Wall, I'm not going to get this asset.

876
00:40:33,400 --> 00:40:35,320
Speaker 7: They're not credit worthy or they're not even worthy to

877
00:40:35,360 --> 00:40:35,800
Speaker 7: be purchased.

878
00:40:35,800 --> 00:40:37,160
Speaker 5: But how do you know how you know the landlord

879
00:40:37,280 --> 00:40:38,800
Speaker 5: is given you accurate information?

880
00:40:38,920 --> 00:40:42,560
Speaker 3: That's another one great question because I get that a lot.

881
00:40:42,680 --> 00:40:43,280
Speaker 2: I'm serious.

882
00:40:43,480 --> 00:40:45,080
Speaker 3: People are saying, how do you know you're get to

883
00:40:45,080 --> 00:40:45,640
Speaker 3: write information?

884
00:40:45,760 --> 00:40:48,719
Speaker 2: Not only buy properties that have property managements attached to them,

885
00:40:49,239 --> 00:40:51,320
Speaker 2: any mom and pop properties, And I'm acting for the

886
00:40:51,360 --> 00:40:54,440
Speaker 2: rent roll, which I very rarely would buy one from

887
00:40:54,480 --> 00:40:58,240
Speaker 2: a mom and pop because they don't have a system

888
00:40:58,920 --> 00:41:01,719
Speaker 2: to keep track of that accurately, so they would have

889
00:41:01,760 --> 00:41:03,920
Speaker 2: to rely on giving you bank statements. And then I

890
00:41:04,040 --> 00:41:06,440
Speaker 2: tell people the bank statements of what they're giving you,

891
00:41:07,040 --> 00:41:09,680
Speaker 2: they're going to be late payments in there, and what

892
00:41:09,840 --> 00:41:12,000
Speaker 2: they're going to say a lot of times is oh,

893
00:41:12,080 --> 00:41:13,880
Speaker 2: I got to check it out and have time to deposit.

894
00:41:14,480 --> 00:41:17,759
Speaker 2: So now you're taking the word of someone who's trying

895
00:41:17,800 --> 00:41:20,080
Speaker 2: to sell a property to you. That's a problem.

896
00:41:20,360 --> 00:41:22,600
Speaker 6: Yeah, So that's a lot right, So that I'm trying

897
00:41:22,640 --> 00:41:23,440
Speaker 6: to draw the team up.

898
00:41:23,480 --> 00:41:26,279
Speaker 7: In my head, property management is one, but you're not there,

899
00:41:26,920 --> 00:41:29,000
Speaker 7: So I wonder how important and if this is a

900
00:41:29,040 --> 00:41:31,440
Speaker 7: part of the team rolls like somebody who's doing the

901
00:41:31,520 --> 00:41:35,040
Speaker 7: appraisal process for you, or somebody's doing inspection for you, Like,

902
00:41:35,120 --> 00:41:36,919
Speaker 7: are these are these roles that's part of the team,

903
00:41:37,080 --> 00:41:38,880
Speaker 7: because if it's out of state and I'm not there.

904
00:41:39,000 --> 00:41:41,399
Speaker 9: I kind of got to rely on these people. Yeah right, yeah,

905
00:41:41,440 --> 00:41:43,759
Speaker 9: so is this part of the team. Yes, I call

906
00:41:43,840 --> 00:41:46,640
Speaker 9: it the money team, right, this is my money team. Now,

907
00:41:46,719 --> 00:41:48,600
Speaker 9: when you find that first property, the first thing you're

908
00:41:48,600 --> 00:41:50,480
Speaker 9: going to do, you got to get you a realtor.

909
00:41:50,920 --> 00:41:52,640
Speaker 9: Because even when you find a property you use the

910
00:41:53,040 --> 00:41:54,840
Speaker 9: methods that I use, you can't put.

911
00:41:54,680 --> 00:41:56,839
Speaker 3: The offer in yourself. You need a realtor to put

912
00:41:56,880 --> 00:41:57,600
Speaker 3: the offer in for you.

913
00:41:58,040 --> 00:41:59,800
Speaker 2: So my thing is I tell people, get you a

914
00:42:00,000 --> 00:42:04,080
Speaker 2: realtor through real To, Zillo whatever, and if that property

915
00:42:04,960 --> 00:42:07,719
Speaker 2: isn't available, what you do is you let the real

916
00:42:07,800 --> 00:42:10,839
Speaker 2: To know that, Hey, I'm out of state investor who's

917
00:42:10,920 --> 00:42:14,840
Speaker 2: only interested in tenant occupied properties. If something comes up,

918
00:42:15,239 --> 00:42:17,480
Speaker 2: send them directly to me. And the reason why they

919
00:42:17,520 --> 00:42:19,160
Speaker 2: would love to send that to you is because they

920
00:42:19,160 --> 00:42:22,200
Speaker 2: don't want to split the commission. If you're real To

921
00:42:22,280 --> 00:42:23,960
Speaker 2: and you get a property and you can sell it,

922
00:42:24,000 --> 00:42:25,800
Speaker 2: but you go. It was so faster on real To,

923
00:42:26,120 --> 00:42:28,400
Speaker 2: I just need to split my commission with them. But

924
00:42:28,600 --> 00:42:30,719
Speaker 2: you said, oh man, I got storm over, he likes

925
00:42:30,760 --> 00:42:33,560
Speaker 2: tendet occupied. You're gonna call me so I can buy it.

926
00:42:33,840 --> 00:42:36,240
Speaker 2: You're just gonna give me the information. So it's important

927
00:42:36,239 --> 00:42:38,440
Speaker 2: to build that relationship with the realta. And after the

928
00:42:38,520 --> 00:42:40,759
Speaker 2: real To you sign a purchase agreement. You put in

929
00:42:40,840 --> 00:42:44,480
Speaker 2: certain contingencies when you're buying these properties. The contingencies are

930
00:42:45,040 --> 00:42:47,640
Speaker 2: you want the rent roll, you want the leases. If

931
00:42:47,680 --> 00:42:50,239
Speaker 2: it's Section eight, you want to Section eight certification. And

932
00:42:50,320 --> 00:42:52,120
Speaker 2: the reason why I like to buy properties that are

933
00:42:52,200 --> 00:42:56,000
Speaker 2: Section eight already tenants in there already is because you're

934
00:42:56,080 --> 00:42:59,560
Speaker 2: inheriting the certification. People when you buy property, and now

935
00:42:59,600 --> 00:43:02,040
Speaker 2: you go down town and now you gotta file for

936
00:43:02,160 --> 00:43:05,000
Speaker 2: Section eight. You gotta wait for an inspection. That takes months.

937
00:43:05,960 --> 00:43:08,520
Speaker 2: Those mortgage payments are kicking in. But when you buy

938
00:43:08,600 --> 00:43:11,320
Speaker 2: a property and someone who's Section eight lives there already,

939
00:43:11,800 --> 00:43:14,239
Speaker 2: they're just sign it over certification to you. You're a

940
00:43:14,320 --> 00:43:17,400
Speaker 2: Section eight landlord. Now, so now when that person moves out,

941
00:43:17,480 --> 00:43:20,080
Speaker 2: guess what, you can put another Section eight tenant in there.

942
00:43:20,239 --> 00:43:23,320
Speaker 2: And if it's a duplex, triplex, or a quad, guess what.

943
00:43:24,360 --> 00:43:26,160
Speaker 2: You're a sex and eight landlord. You don't have to

944
00:43:26,200 --> 00:43:28,839
Speaker 2: go downtown, you don't have to do the paperwork. You're

945
00:43:28,920 --> 00:43:32,000
Speaker 2: inheriting everything that comes with the Section eight property. So

946
00:43:32,120 --> 00:43:33,920
Speaker 2: that's why that's another thing where I stay away from

947
00:43:34,000 --> 00:43:36,960
Speaker 2: vacancies and trying to do Section eight. That takes time.

948
00:43:37,800 --> 00:43:40,200
Speaker 2: So now once I get that, I get my realtor.

949
00:43:40,680 --> 00:43:45,640
Speaker 2: Now I get the inspector. The realtor is so crucial

950
00:43:46,000 --> 00:43:48,680
Speaker 2: with referral. See, this is all on relationships. The realtor

951
00:43:48,760 --> 00:43:51,080
Speaker 2: is going to recommend and inspect her to go inspect.

952
00:43:51,160 --> 00:43:53,520
Speaker 2: Do the inspector to make sure the property is in

953
00:43:53,600 --> 00:43:56,160
Speaker 2: good shape. Even though you're buying a property with tenant

954
00:43:56,200 --> 00:44:00,080
Speaker 2: in it, tenants inside the property. I always sin and

955
00:44:00,440 --> 00:44:02,239
Speaker 2: I'm gonna drop this now, y'all. Make sure y'all pick

956
00:44:02,280 --> 00:44:02,520
Speaker 2: this up.

957
00:44:02,560 --> 00:44:03,920
Speaker 5: It's crucial, very important.

958
00:44:04,680 --> 00:44:08,759
Speaker 2: Make sure you send your property manager with your inspector.

959
00:44:09,160 --> 00:44:11,719
Speaker 2: The reason why is because the inspector is going to

960
00:44:11,800 --> 00:44:15,480
Speaker 2: inspect the property. The property manager is going to inspect

961
00:44:15,520 --> 00:44:18,080
Speaker 2: the tenants. He's gonna make sure the tenants are not

962
00:44:18,160 --> 00:44:20,520
Speaker 2: tearing the house up. He's gonna make sure the tennants

963
00:44:20,520 --> 00:44:21,040
Speaker 2: are keeping.

964
00:44:20,880 --> 00:44:21,480
Speaker 3: A place clean.

965
00:44:22,080 --> 00:44:24,640
Speaker 2: He's gonna do all of those things because he doesn't

966
00:44:24,680 --> 00:44:26,800
Speaker 2: want to now work with a property where he's no

967
00:44:26,920 --> 00:44:28,960
Speaker 2: he's gonna have to keep coming back here over and

968
00:44:29,040 --> 00:44:32,640
Speaker 2: over again. So now think about that. I got the

969
00:44:32,680 --> 00:44:34,880
Speaker 2: real two. Hook me up with the inspector. The inspector

970
00:44:35,040 --> 00:44:38,520
Speaker 2: can also tell me key things like, oh, this area

971
00:44:38,640 --> 00:44:40,239
Speaker 2: is coming up, a lot of investors are coming in

972
00:44:40,680 --> 00:44:43,879
Speaker 2: bing I'm buying more properties in. The inspector can tell

973
00:44:43,920 --> 00:44:46,399
Speaker 2: me a lot of inspectors are running. I'm not gonna

974
00:44:46,440 --> 00:44:49,399
Speaker 2: buy properties. The inspector can tell me, oh, they talking

975
00:44:49,400 --> 00:44:52,839
Speaker 2: about opening up a Walmart. That's crucial. When I bought

976
00:44:52,920 --> 00:44:56,640
Speaker 2: fifteen properties in Birmingham, Alabama, the main reason was because

977
00:44:56,760 --> 00:44:59,360
Speaker 2: on Bigger Pockets dot Com we got the word that

978
00:44:59,440 --> 00:45:03,239
Speaker 2: there was a war, I mean an Amazon Amazon warehouse

979
00:45:03,280 --> 00:45:06,879
Speaker 2: coming before the news. That's what a community does, that's

980
00:45:06,920 --> 00:45:09,400
Speaker 2: what inspector's the information that's on the street. So what

981
00:45:09,520 --> 00:45:13,080
Speaker 2: we did Broop all of us were just buying, buying, buying, buying,

982
00:45:13,680 --> 00:45:15,840
Speaker 2: So that's another part of the team. So now you

983
00:45:15,920 --> 00:45:20,080
Speaker 2: also get yourself a handyman or a contracting company. You're

984
00:45:20,120 --> 00:45:22,520
Speaker 2: not getting them to do fix and flips, right, You're

985
00:45:22,560 --> 00:45:25,360
Speaker 2: just getting them because when you have a property management

986
00:45:25,440 --> 00:45:28,200
Speaker 2: they will sometimes outsource repairs. So you want to be

987
00:45:28,280 --> 00:45:31,360
Speaker 2: able to compare the price with somebody you have just

988
00:45:31,480 --> 00:45:34,439
Speaker 2: in case you need someone that can get the work done.

989
00:45:34,840 --> 00:45:37,040
Speaker 3: But you want to also remember everything I'm talking about.

990
00:45:37,040 --> 00:45:38,719
Speaker 2: It is thinking on a level of delegating duties and

991
00:45:38,719 --> 00:45:40,640
Speaker 2: becoming a CEO and now being able to expand your

992
00:45:40,719 --> 00:45:43,359
Speaker 2: company and building out your money team. Here's the part

993
00:45:43,400 --> 00:45:48,080
Speaker 2: about your money team. Nobody's on salary. Everybody's working for

994
00:45:48,280 --> 00:45:52,960
Speaker 2: you literally and you're not paying them. And now you're

995
00:45:53,160 --> 00:45:56,880
Speaker 2: expanding that relationships and you're the go to guy because

996
00:45:56,920 --> 00:46:00,440
Speaker 2: you're showing them you have a structure that works and

997
00:46:00,520 --> 00:46:04,040
Speaker 2: they know you're doing good business. That's part of the

998
00:46:04,080 --> 00:46:04,800
Speaker 2: team right there.

999
00:46:04,880 --> 00:46:04,960
Speaker 1: So.

1000
00:46:06,440 --> 00:46:07,080
Speaker 6: Erners, what's up.

1001
00:46:07,200 --> 00:46:09,600
Speaker 7: You ever walk into a small business and everything just

1002
00:46:09,840 --> 00:46:12,960
Speaker 7: works like the checkout is fast, or seats are digital,

1003
00:46:13,520 --> 00:46:16,479
Speaker 7: tipping is a breeze, and you're out the door before

1004
00:46:16,520 --> 00:46:20,640
Speaker 7: the line even builds odds are they're using Square. We

1005
00:46:20,840 --> 00:46:23,320
Speaker 7: love supporting businesses that run on Square because it just

1006
00:46:23,400 --> 00:46:26,640
Speaker 7: feels seamless. Whether it's a local coffee shop, a vendor

1007
00:46:26,680 --> 00:46:28,920
Speaker 7: at a pop up market, or even one of our

1008
00:46:29,000 --> 00:46:32,600
Speaker 7: merch partners. Square makes it easy for them to take payments,

1009
00:46:32,880 --> 00:46:36,560
Speaker 7: manage inventory, and run their business with confidence, all from

1010
00:46:36,719 --> 00:46:40,040
Speaker 7: one simple system. If you're a business owner or even

1011
00:46:40,200 --> 00:46:43,680
Speaker 7: just thinking about launching something soon, Square is hands down

1012
00:46:43,760 --> 00:46:46,680
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1013
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1014
00:46:50,360 --> 00:46:52,360
Speaker 7: you time back so you can focus on.

1015
00:46:52,400 --> 00:46:53,839
Speaker 6: What matters most ready.

1016
00:46:53,880 --> 00:46:57,240
Speaker 7: To see how Square can transform your business, visit Square

1017
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1018
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1019
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1020
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1021
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1031
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1032
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1033
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1034
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1035
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1039
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1045
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1046
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1049
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Speaker 5: Joe, do you use banks? Money? How's the financing for this?

1050
00:48:59,120 --> 00:49:02,480
Speaker 2: What I do with fun? I don't do banks. It's

1051
00:49:02,600 --> 00:49:06,759
Speaker 2: all commercial lending, hard money LLCs. And the reason why

1052
00:49:06,880 --> 00:49:09,239
Speaker 2: is because I started out with banks. Banks are great

1053
00:49:09,920 --> 00:49:12,080
Speaker 2: up to a point, but banks are designed to make

1054
00:49:12,120 --> 00:49:15,359
Speaker 2: you a homeowner and not an investor. There's this thing

1055
00:49:15,440 --> 00:49:17,440
Speaker 2: called the Golden tickets where you could get ten mortgages

1056
00:49:17,480 --> 00:49:19,600
Speaker 2: with a bank, but that's very hard to achieve. My

1057
00:49:19,680 --> 00:49:22,440
Speaker 2: mentor it's like, yeah, I got ten mortgages, he said,

1058
00:49:22,440 --> 00:49:24,080
Speaker 2: But I'm gonna tell you never to try to do that,

1059
00:49:24,600 --> 00:49:27,520
Speaker 2: because when you're trying to get extra mortgages and now

1060
00:49:27,800 --> 00:49:29,759
Speaker 2: you have to show them all these other properties, you

1061
00:49:29,800 --> 00:49:32,040
Speaker 2: know what they gonna want. They're gonna want all the leases.

1062
00:49:32,120 --> 00:49:33,960
Speaker 2: They're gonna want all the rent rolls. They're gonna want

1063
00:49:33,960 --> 00:49:35,960
Speaker 2: to see your W two's, they're gonna want to see

1064
00:49:36,000 --> 00:49:38,160
Speaker 2: your pay stubs, and by all that time you can

1065
00:49:38,239 --> 00:49:40,400
Speaker 2: lose the property, or by that time the property is

1066
00:49:40,440 --> 00:49:42,840
Speaker 2: not worth getting so now and by that time they

1067
00:49:42,880 --> 00:49:44,960
Speaker 2: could say, well the appraisal things are not meeting where

1068
00:49:45,000 --> 00:49:48,399
Speaker 2: we want. That's time lost. So with hard money, though,

1069
00:49:48,480 --> 00:49:51,640
Speaker 2: especially now in these times, interest rates are just comparable.

1070
00:49:52,000 --> 00:49:54,000
Speaker 2: And for those that say, well hard money always give

1071
00:49:54,040 --> 00:49:57,040
Speaker 2: you higher rates and shorter times and sort of terms,

1072
00:49:57,320 --> 00:49:59,919
Speaker 2: that's not true. You have hard money your commercial lenders.

1073
00:50:00,040 --> 00:50:02,880
Speaker 2: I do thirty year loans that are very comparable with

1074
00:50:03,080 --> 00:50:06,600
Speaker 2: banks at seven percent interests. So I use hard money

1075
00:50:07,040 --> 00:50:09,440
Speaker 2: all day because all they care about is that the

1076
00:50:09,520 --> 00:50:11,880
Speaker 2: asset has equity and it's not underwater.

1077
00:50:12,640 --> 00:50:12,920
Speaker 5: That's it.

1078
00:50:13,320 --> 00:50:15,640
Speaker 3: They don't want to see nothing else. You got to LLC.

1079
00:50:16,680 --> 00:50:19,560
Speaker 2: You got the property that's worth value, the property of

1080
00:50:19,640 --> 00:50:21,960
Speaker 2: praise right now. I could keep doing that over and

1081
00:50:22,040 --> 00:50:23,719
Speaker 2: over again, So I use that hard money.

1082
00:50:24,120 --> 00:50:26,600
Speaker 7: Let's talk about LLCs because I've heard and we've had

1083
00:50:26,640 --> 00:50:28,640
Speaker 7: people say like, hey, every time you get a property,

1084
00:50:28,840 --> 00:50:31,200
Speaker 7: you should make a new LLC for the property. Your

1085
00:50:31,239 --> 00:50:33,719
Speaker 7: method is a little bit different than that to a smile. Right,

1086
00:50:35,360 --> 00:50:39,680
Speaker 7: I've seen that smile before. Can you break down how

1087
00:50:39,840 --> 00:50:43,080
Speaker 7: you formulate or construct your LLCs?

1088
00:50:43,239 --> 00:50:46,600
Speaker 2: Yes, normally with the process. When I first saw, I

1089
00:50:46,640 --> 00:50:49,960
Speaker 2: was getting one LLC for one property, get another LLC

1090
00:50:50,080 --> 00:50:50,800
Speaker 2: for one property.

1091
00:50:51,040 --> 00:50:52,600
Speaker 3: But then I was getting a larger property.

1092
00:50:52,680 --> 00:50:55,080
Speaker 2: And the problem was I didn't have history on the

1093
00:50:55,280 --> 00:50:57,160
Speaker 2: LLC to want to get a million dollar loan.

1094
00:50:57,760 --> 00:51:01,440
Speaker 7: Right, and we're getting LLC so that we protect ourselves, right,

1095
00:51:01,480 --> 00:51:03,239
Speaker 7: it's one hundred percent right. So I want to make

1096
00:51:03,280 --> 00:51:05,480
Speaker 7: sure everybody's clear, Like if I get a property, somebody

1097
00:51:05,520 --> 00:51:07,600
Speaker 7: try to assume me personally, they can't take my property

1098
00:51:07,600 --> 00:51:08,399
Speaker 7: because it's in the LLC.

1099
00:51:08,680 --> 00:51:12,160
Speaker 3: Yes, that's the main purpose of getting the LLC got right.

1100
00:51:12,280 --> 00:51:14,719
Speaker 2: But what I said was, Okay, what I'm going to

1101
00:51:14,760 --> 00:51:18,360
Speaker 2: do is I'm going to buy all my properties moving

1102
00:51:18,480 --> 00:51:20,040
Speaker 2: forward in one LLC.

1103
00:51:21,160 --> 00:51:23,480
Speaker 3: Why because I want to build up the credit history

1104
00:51:23,680 --> 00:51:24,640
Speaker 3: of this one LLC.

1105
00:51:25,080 --> 00:51:26,680
Speaker 2: So now when I say I need a million dollar

1106
00:51:26,760 --> 00:51:29,080
Speaker 2: loan and I showed them to the LLC, they go, okay,

1107
00:51:29,160 --> 00:51:32,200
Speaker 2: he has a million dollar loans worth of loans. Now

1108
00:51:32,440 --> 00:51:34,879
Speaker 2: it's never missed the payment. You can have whatever you want.

1109
00:51:35,200 --> 00:51:37,920
Speaker 2: But Now, just just like you mentioned, how does that

1110
00:51:38,320 --> 00:51:42,880
Speaker 2: help with protecting yourself? So now that's when I create

1111
00:51:43,160 --> 00:51:47,279
Speaker 2: a holding LLC. The holding LLC main purpose is to

1112
00:51:47,360 --> 00:51:50,600
Speaker 2: protect the property and protect the first LLC, which now

1113
00:51:50,680 --> 00:51:53,760
Speaker 2: I will call an acquisition LLC because it's buying properties.

1114
00:51:54,160 --> 00:51:56,520
Speaker 2: So you buy the property in the first LLC, which

1115
00:51:56,600 --> 00:52:01,560
Speaker 2: the acquisition, then you transfer that property into the holding LLC,

1116
00:52:02,120 --> 00:52:04,160
Speaker 2: preferably into an animinity state.

1117
00:52:05,000 --> 00:52:07,080
Speaker 3: Simple, it's gonna sound complicated, staying with me.

1118
00:52:07,360 --> 00:52:10,040
Speaker 2: Very simple. Now we hear about holding LLCs and movies

1119
00:52:10,080 --> 00:52:12,759
Speaker 2: all the time. Oh, he purchased this in his LLC.

1120
00:52:12,840 --> 00:52:15,600
Speaker 2: He's hiding this in the holding LLC. The reason why

1121
00:52:15,920 --> 00:52:20,800
Speaker 2: is because of the power of the animenity. Animenity states LLCs.

1122
00:52:20,840 --> 00:52:23,000
Speaker 2: You can get LLC in any any state, but the

1123
00:52:23,080 --> 00:52:29,920
Speaker 2: animenity states to make this work properly. Is New Mexico, Nevada, Delaware?

1124
00:52:30,200 --> 00:52:33,279
Speaker 2: Yl I mean yep, yeah, exactly. So Now, once you

1125
00:52:33,400 --> 00:52:36,560
Speaker 2: transfer that property into the holding LLC, if somebody was

1126
00:52:36,640 --> 00:52:39,239
Speaker 2: the slip and fall and try to sue that LLC,

1127
00:52:39,440 --> 00:52:42,240
Speaker 2: remember it's no longer in the acquisition. So your mortgage

1128
00:52:42,320 --> 00:52:44,640
Speaker 2: is cool, that a loan is cool. You can buy more,

1129
00:52:44,840 --> 00:52:46,960
Speaker 2: but if somebody was the fall, and now that property

1130
00:52:47,000 --> 00:52:51,719
Speaker 2: is in the holding LLC, you're protected. Your mortgage isn't

1131
00:52:51,719 --> 00:52:53,880
Speaker 2: attached to it, so they cannot sue you.

1132
00:52:54,520 --> 00:52:56,200
Speaker 3: But which, you know, what makes it even more sweet.

1133
00:52:56,400 --> 00:52:57,719
Speaker 3: And this is the part we have to look at.

1134
00:52:58,239 --> 00:53:02,160
Speaker 2: When the LLC is an animinity state and compared to it,

1135
00:53:02,280 --> 00:53:05,439
Speaker 2: it's not an animenity state. If someone sues your LLC

1136
00:53:05,560 --> 00:53:08,040
Speaker 2: and it's in let's say New Jersey, they say, we

1137
00:53:08,160 --> 00:53:11,440
Speaker 2: can't sue him, so we're just gonna settle for whatever

1138
00:53:11,520 --> 00:53:14,319
Speaker 2: we can get. But let's look in Google and.

1139
00:53:14,360 --> 00:53:17,719
Speaker 3: See who owns the LLC. Oh Man Troy, he.

1140
00:53:17,760 --> 00:53:22,640
Speaker 2: Owns this LLC. That's a civil lawsuit. All day people

1141
00:53:22,760 --> 00:53:25,840
Speaker 2: have been sued who owned the LLCs through civil lawsuits.

1142
00:53:25,880 --> 00:53:28,200
Speaker 2: Because your name is exposed and now they know what

1143
00:53:28,320 --> 00:53:30,960
Speaker 2: you own. Why do they call it a holding LLC?

1144
00:53:31,080 --> 00:53:34,520
Speaker 2: Why they use animenity states specifically because of this reason.

1145
00:53:35,160 --> 00:53:38,080
Speaker 2: We just haven't took it on to do a little

1146
00:53:38,120 --> 00:53:40,680
Speaker 2: deep diving into that. So now it's protected in the

1147
00:53:40,760 --> 00:53:44,719
Speaker 2: holding LLC. But now here's another thing. Well, you're collecting rent.

1148
00:53:45,440 --> 00:53:48,600
Speaker 2: Where's the rent going? Now you have another LLC for

1149
00:53:48,680 --> 00:53:52,080
Speaker 2: property management because you become a property manager. The rent's

1150
00:53:52,120 --> 00:53:54,880
Speaker 2: going to the property management LLC. And the main reason

1151
00:53:55,000 --> 00:53:57,359
Speaker 2: because if you were to collect rent in the same

1152
00:53:57,719 --> 00:54:01,200
Speaker 2: LLC as the property and somebody's slips and fall, they

1153
00:54:01,280 --> 00:54:05,360
Speaker 2: freeze all the assets, that includes the bank accounts, that

1154
00:54:05,560 --> 00:54:09,280
Speaker 2: includes your money. So now you have a property management

1155
00:54:09,800 --> 00:54:13,000
Speaker 2: a property management LLC in the states you live in,

1156
00:54:13,360 --> 00:54:15,719
Speaker 2: because you're going to be doing taxes collecting that money.

1157
00:54:16,200 --> 00:54:18,359
Speaker 2: So now if you have properties out of state, they're

1158
00:54:18,440 --> 00:54:20,600
Speaker 2: going to pay you and your property management LLC and

1159
00:54:20,640 --> 00:54:22,719
Speaker 2: you will not have to pay me. Slow down on

1160
00:54:22,800 --> 00:54:27,000
Speaker 2: this part. You will not pay property taxes and those

1161
00:54:27,120 --> 00:54:30,799
Speaker 2: other states because your property management companies collecting their money

1162
00:54:31,160 --> 00:54:34,160
Speaker 2: and they're now wiring you the money in your state.

1163
00:54:34,680 --> 00:54:37,320
Speaker 2: The only taxes you have to pay is a business

1164
00:54:37,560 --> 00:54:40,960
Speaker 2: privileged tax. So if you're making thousands of dollars in

1165
00:54:41,040 --> 00:54:43,920
Speaker 2: that other state, you just pay a business privileged tax

1166
00:54:44,000 --> 00:54:46,640
Speaker 2: for doing business in that state, which is normally three

1167
00:54:46,719 --> 00:54:47,840
Speaker 2: hundred and four hundred dollars.

1168
00:54:49,320 --> 00:54:51,960
Speaker 5: So all right, let me ask you this. Are you

1169
00:54:52,080 --> 00:54:54,319
Speaker 5: talking about living trust and how that change your life?

1170
00:54:54,840 --> 00:54:55,440
Speaker 5: Can you talk about that?

1171
00:54:56,040 --> 00:54:59,919
Speaker 2: Yeah, in twenty nineteen, my life changed, buying real estate,

1172
00:55:00,040 --> 00:55:02,759
Speaker 2: doing all these great things I understood the value of

1173
00:55:02,880 --> 00:55:05,440
Speaker 2: having real estate and wanting to hand it over to

1174
00:55:05,520 --> 00:55:08,640
Speaker 2: my legacy to create a legacy with that. But once

1175
00:55:08,680 --> 00:55:11,759
Speaker 2: I actually went to create a living trust and I

1176
00:55:11,960 --> 00:55:14,800
Speaker 2: saw what it can do, That's when I knew I

1177
00:55:14,880 --> 00:55:17,120
Speaker 2: had a bigger narrative I needed to share with the people.

1178
00:55:17,680 --> 00:55:21,520
Speaker 2: So my thing was, I looked at who created a

1179
00:55:21,640 --> 00:55:24,040
Speaker 2: living trust to hand it down through the legacy, and

1180
00:55:24,160 --> 00:55:26,839
Speaker 2: I said, it's Rockefeller. So I went on to read

1181
00:55:27,040 --> 00:55:29,839
Speaker 2: the Rockefeller Trust from nineteen thirty four, and also there's

1182
00:55:30,360 --> 00:55:32,719
Speaker 2: a book called what would Rockefeller Do? So I stayed

1183
00:55:32,800 --> 00:55:35,239
Speaker 2: up reading all these things about how he would take this,

1184
00:55:35,440 --> 00:55:37,720
Speaker 2: put it in an account and only give a portion

1185
00:55:38,160 --> 00:55:41,080
Speaker 2: to the legacy, and then have his children create a trust.

1186
00:55:41,320 --> 00:55:43,440
Speaker 2: And now that money compound interest. He wouldn't give it

1187
00:55:43,440 --> 00:55:45,360
Speaker 2: to him until they turn a certain age. And I'm like,

1188
00:55:46,440 --> 00:55:46,960
Speaker 2: I could do that.

1189
00:55:47,760 --> 00:55:48,400
Speaker 5: We can do that.

1190
00:55:48,960 --> 00:55:50,759
Speaker 2: The information was right there. So I sat down with

1191
00:55:50,800 --> 00:55:53,200
Speaker 2: my trust attorney. I said, I want to do that, Like, well,

1192
00:55:53,280 --> 00:55:54,960
Speaker 2: you want to do it, but I want to do that.

1193
00:55:55,680 --> 00:55:58,120
Speaker 2: It can be done. So we structured it, worked it

1194
00:55:58,160 --> 00:56:02,520
Speaker 2: out where if not if but unfortunately we all pass away.

1195
00:56:02,640 --> 00:56:05,719
Speaker 2: When I pass away, a percentage of my properties would

1196
00:56:05,760 --> 00:56:08,680
Speaker 2: be sold, not the ones that I hold long term,

1197
00:56:09,080 --> 00:56:12,200
Speaker 2: like I have properties I do keep my short term properties,

1198
00:56:12,520 --> 00:56:15,319
Speaker 2: those would be sold. That money would now go into

1199
00:56:15,360 --> 00:56:18,360
Speaker 2: a brokerage account. That brokerage account would be in the

1200
00:56:18,440 --> 00:56:22,560
Speaker 2: name of the trust. That money for that specific account

1201
00:56:22,640 --> 00:56:26,440
Speaker 2: would be for my grandchildren starting off, not my immediate family.

1202
00:56:26,960 --> 00:56:30,040
Speaker 2: My immediate family would get my life insurance policies, which

1203
00:56:30,040 --> 00:56:33,319
Speaker 2: are millions of dollars policies, and the main properties that.

1204
00:56:33,320 --> 00:56:34,600
Speaker 3: I hold, so they are taken care of.

1205
00:56:35,600 --> 00:56:38,400
Speaker 2: But we need to start thinking about the grandkids, the

1206
00:56:38,520 --> 00:56:41,520
Speaker 2: great grandkids, those generations. How do you start their growth?

1207
00:56:41,960 --> 00:56:43,880
Speaker 2: You start their growth by putting that money in a

1208
00:56:43,920 --> 00:56:45,920
Speaker 2: brokerage account, and they don't get that money until they

1209
00:56:46,000 --> 00:56:49,080
Speaker 2: turn twenty one years old. So let's use the example

1210
00:56:49,480 --> 00:56:51,360
Speaker 2: of a million dollars. I put a million dollars in

1211
00:56:51,400 --> 00:56:53,680
Speaker 2: a brokerage account for my grandkids. They don't get that

1212
00:56:53,800 --> 00:56:56,839
Speaker 2: till they turn twenty one, gaining six percent interest six

1213
00:56:56,920 --> 00:56:59,799
Speaker 2: percent interest. They say, that's twenty one. So that money

1214
00:56:59,800 --> 00:57:02,400
Speaker 2: turn answer to about three point eight million dollars for

1215
00:57:02,520 --> 00:57:03,279
Speaker 2: my grandkids.

1216
00:57:03,800 --> 00:57:05,080
Speaker 3: My grandkids, they wouldn't get it.

1217
00:57:05,120 --> 00:57:07,799
Speaker 2: All that we could have about one point six till

1218
00:57:07,840 --> 00:57:10,400
Speaker 2: I leave one point six in there for my great

1219
00:57:10,560 --> 00:57:12,239
Speaker 2: grandchildren for twenty one years.

1220
00:57:12,680 --> 00:57:15,239
Speaker 3: That now turns into about three four five six.

1221
00:57:15,320 --> 00:57:18,080
Speaker 2: That turns into about six point seven million dollars for

1222
00:57:18,240 --> 00:57:21,600
Speaker 2: my great grandchildren. They don't get it all they could have,

1223
00:57:22,440 --> 00:57:25,320
Speaker 2: so now that's about one point one know, about two

1224
00:57:25,360 --> 00:57:28,000
Speaker 2: point two point three two point three stays in for

1225
00:57:28,120 --> 00:57:32,560
Speaker 2: my great great grandchildren, so they get about eight point

1226
00:57:32,600 --> 00:57:35,800
Speaker 2: one million dollars. You see how that happens. That's compound

1227
00:57:35,880 --> 00:57:39,040
Speaker 2: interest over twenty one years. So we have to look

1228
00:57:39,080 --> 00:57:41,480
Speaker 2: at that number. But what makes the trigger and the

1229
00:57:41,560 --> 00:57:45,040
Speaker 2: explosion even bigger is the fact that what Rockefeller did

1230
00:57:45,120 --> 00:57:48,640
Speaker 2: is that was just his trust. What he did was,

1231
00:57:49,040 --> 00:57:52,400
Speaker 2: now each children opened up, each child opened up a trust.

1232
00:57:52,600 --> 00:57:55,080
Speaker 2: So now his children had a trust, so he would

1233
00:57:55,080 --> 00:57:58,120
Speaker 2: pay his grandchildren, and his children would pay them. That's twice.

1234
00:57:58,520 --> 00:58:00,840
Speaker 2: So now his grand his children, and then his grandchildren

1235
00:58:00,920 --> 00:58:03,200
Speaker 2: have a trust, so his great grandchildren would get paid

1236
00:58:03,440 --> 00:58:05,880
Speaker 2: three times. So now if we look at rocket fuller

1237
00:58:05,920 --> 00:58:10,920
Speaker 2: trust paid out now eleven generations and counting continuously. And

1238
00:58:11,040 --> 00:58:13,400
Speaker 2: what he also did was have a life insurance policy

1239
00:58:13,640 --> 00:58:16,320
Speaker 2: on every person in the trust, creating his own bank.

1240
00:58:17,320 --> 00:58:18,240
Speaker 3: And now what does that do?

1241
00:58:18,400 --> 00:58:21,320
Speaker 2: This is my structure. Also, any one of my children

1242
00:58:21,400 --> 00:58:23,040
Speaker 2: or grandchildren who want to start a business, what do

1243
00:58:23,160 --> 00:58:26,240
Speaker 2: they do? Talk to the trustees and now you borrow money.

1244
00:58:27,200 --> 00:58:29,880
Speaker 2: We become our own bank. So when someone dies, that

1245
00:58:29,960 --> 00:58:32,320
Speaker 2: money goes into the trust. You pay when you get

1246
00:58:32,360 --> 00:58:34,120
Speaker 2: the policy, you pay it out right. So now that

1247
00:58:34,200 --> 00:58:36,840
Speaker 2: money is available in the trust. So now also what

1248
00:58:36,920 --> 00:58:40,200
Speaker 2: I did was I retweaked my trust last year and

1249
00:58:40,320 --> 00:58:42,160
Speaker 2: it was twenty one that I wouldn't give them money.

1250
00:58:42,160 --> 00:58:44,800
Speaker 2: I changed it. I changed the way they get money

1251
00:58:44,840 --> 00:58:47,360
Speaker 2: at eighteen and they can have a business started at eleven.

1252
00:58:47,800 --> 00:58:50,640
Speaker 2: You know why because now with technology, kids are now

1253
00:58:50,720 --> 00:58:53,640
Speaker 2: figuring out new ways to start a business. So I

1254
00:58:53,720 --> 00:58:56,280
Speaker 2: want them to be able to present a business loan,

1255
00:58:56,440 --> 00:58:59,720
Speaker 2: a business proposal to the trustees so they could borrow money.

1256
00:59:00,640 --> 00:59:02,040
Speaker 2: These are the things where we don't look at them.

1257
00:59:02,080 --> 00:59:03,600
Speaker 2: When people say I don't have the money to do this.

1258
00:59:03,680 --> 00:59:06,240
Speaker 2: You know what I tell them, Yes, you do. The

1259
00:59:06,360 --> 00:59:10,520
Speaker 2: air you breathe is money a life insurance policy. Soon

1260
00:59:10,560 --> 00:59:13,480
Speaker 2: as you die, you worth money. Their generations and their

1261
00:59:13,560 --> 00:59:16,000
Speaker 2: groups of people when people die, their objectives to make

1262
00:59:16,040 --> 00:59:18,440
Speaker 2: sure they have a policy on their grandmother policy on

1263
00:59:18,520 --> 00:59:20,640
Speaker 2: their father to do exactly what we're talking about. But

1264
00:59:20,720 --> 00:59:23,160
Speaker 2: we look at us taboo when it can't be taboo.

1265
00:59:23,400 --> 00:59:25,800
Speaker 2: It shouldn't be taboo. The main thing about it is

1266
00:59:25,880 --> 00:59:28,320
Speaker 2: you're thinking about the legacy. And when I tell people,

1267
00:59:28,360 --> 00:59:30,520
Speaker 2: when I speak to you, I'm not speaking You don't speaking.

1268
00:59:30,200 --> 00:59:31,320
Speaker 3: To your ley legacy.

1269
00:59:31,640 --> 00:59:33,480
Speaker 2: You're just a vessel for me to get the message

1270
00:59:33,720 --> 00:59:36,640
Speaker 2: to you so you can hear the message and see

1271
00:59:36,680 --> 00:59:39,080
Speaker 2: it and it reverberates in your brain. And as it's

1272
00:59:39,160 --> 00:59:42,000
Speaker 2: doing this, you literally are talking to your legacy while

1273
00:59:42,000 --> 00:59:45,720
Speaker 2: I'm speaking, going I got you, don't worry. Storm told

1274
00:59:45,760 --> 00:59:47,360
Speaker 2: me how to do it. Now I'm gonna give me

1275
00:59:47,360 --> 00:59:50,360
Speaker 2: a life insurance policy. When people have a life insurance policy,

1276
00:59:50,440 --> 00:59:53,040
Speaker 2: let's say roughly four million dollars, you have half a

1277
00:59:53,120 --> 00:59:55,800
Speaker 2: million dollars left on your home mortgage, and you say

1278
00:59:55,840 --> 00:59:58,960
Speaker 2: to yourself, I'm leaving my family a million dollar. Actually

1279
00:59:58,960 --> 01:00:02,520
Speaker 2: you're not, because when you die, that policy has to

1280
01:00:02,600 --> 01:00:04,200
Speaker 2: pay half a million to the mortgage so they can

1281
01:00:04,200 --> 01:00:06,480
Speaker 2: stay in the house. You're only leaving them half a

1282
01:00:06,520 --> 01:00:08,960
Speaker 2: million dollars. We don't think about that mortgage behind us.

1283
01:00:09,640 --> 01:00:12,520
Speaker 3: So this is where I say, get yourself a whole life.

1284
01:00:12,760 --> 01:00:16,040
Speaker 2: Excuse me, get yourself a term that's for half a

1285
01:00:16,120 --> 01:00:19,040
Speaker 2: million or a million dollars just to cover the house

1286
01:00:19,560 --> 01:00:22,560
Speaker 2: so your real policy doesn't get broken up. And now

1287
01:00:22,640 --> 01:00:25,160
Speaker 2: you have that term, pay off the mortgage, any money left,

1288
01:00:25,200 --> 01:00:27,240
Speaker 2: put it in a broken'e account, and now you start

1289
01:00:27,280 --> 01:00:27,760
Speaker 2: the system.

1290
01:00:29,040 --> 01:00:30,800
Speaker 5: So let's stay on this conversation about the trust for

1291
01:00:30,840 --> 01:00:34,640
Speaker 5: a minute. So irrevocable life insurance trust or a.

1292
01:00:34,640 --> 01:00:37,240
Speaker 2: Revocable Left's just start off as a revocable voc because

1293
01:00:37,240 --> 01:00:37,560
Speaker 2: you want to.

1294
01:00:37,520 --> 01:00:39,960
Speaker 5: Be able to say and you can change it. Yes,

1295
01:00:41,320 --> 01:00:43,120
Speaker 5: all right? So all right, so who set this up

1296
01:00:43,200 --> 01:00:45,880
Speaker 5: for you? Your attorney? Yeah, my statement, you told them

1297
01:00:46,000 --> 01:00:48,400
Speaker 5: or they you educated them when they educated you. Obviously

1298
01:00:48,440 --> 01:00:50,960
Speaker 5: they're already educated because their attorney where it sounds like

1299
01:00:51,040 --> 01:00:52,840
Speaker 5: you kind of already had some idea of what you

1300
01:00:52,920 --> 01:00:55,320
Speaker 5: wanted to do because you did some reading before that.

1301
01:00:55,760 --> 01:00:57,680
Speaker 5: So what was the process? You kind of said, this

1302
01:00:57,760 --> 01:00:59,720
Speaker 5: is what I want to do, and then they kind

1303
01:00:59,720 --> 01:01:01,640
Speaker 5: of add to it or they said this is what

1304
01:01:01,720 --> 01:01:02,200
Speaker 5: you should do.

1305
01:01:03,040 --> 01:01:05,160
Speaker 2: I came to them with my plan and my structure first,

1306
01:01:05,880 --> 01:01:07,560
Speaker 2: and I really wasn't taking a note for an answer

1307
01:01:07,600 --> 01:01:09,320
Speaker 2: because I know it could be done. And there are

1308
01:01:09,400 --> 01:01:14,240
Speaker 2: some people that, like there are mechanics who cars are broke, like,

1309
01:01:14,360 --> 01:01:17,080
Speaker 2: they just don't know fully how to do certain things.

1310
01:01:17,360 --> 01:01:20,480
Speaker 2: So you really have to find the right person that

1311
01:01:20,840 --> 01:01:22,920
Speaker 2: does these things. And I would always say, speak to

1312
01:01:22,960 --> 01:01:25,960
Speaker 2: someone who has a trust, speak to someone who you know.

1313
01:01:26,280 --> 01:01:28,680
Speaker 2: They can refer you to someone, but that takes time,

1314
01:01:29,040 --> 01:01:31,920
Speaker 2: but they would give me little tidbits of where we

1315
01:01:32,000 --> 01:01:35,480
Speaker 2: can do this, or they have a network of people

1316
01:01:35,800 --> 01:01:37,400
Speaker 2: and a law firm and they reach out to them.

1317
01:01:37,840 --> 01:01:40,360
Speaker 3: Like my first trust cost me about twelve thousand dollars.

1318
01:01:40,680 --> 01:01:43,960
Speaker 2: My newest one costs me roughly almost twenty thousand because

1319
01:01:43,960 --> 01:01:46,000
Speaker 2: I have a lot of things to fund it with.

1320
01:01:46,400 --> 01:01:49,240
Speaker 2: But if starting out, trust probably run you anywhere from

1321
01:01:49,240 --> 01:01:51,760
Speaker 2: three to six thousand dollars. But you have to look

1322
01:01:51,760 --> 01:01:53,920
Speaker 2: at the big picture. But I started out having a

1323
01:01:54,000 --> 01:01:57,560
Speaker 2: plan and I really really was adamant about getting this

1324
01:01:57,640 --> 01:01:58,280
Speaker 2: structure done.

1325
01:01:58,320 --> 01:01:58,960
Speaker 5: That was it for me.

1326
01:01:59,160 --> 01:02:02,560
Speaker 2: You have a will too, Yeah, with the trust, there's

1327
01:02:02,600 --> 01:02:05,200
Speaker 2: a thing called a poor over will that's attached to

1328
01:02:05,320 --> 01:02:07,280
Speaker 2: the trust for all the items that you don't put

1329
01:02:07,320 --> 01:02:10,479
Speaker 2: into the trust automatically pulls over and fall into the will,

1330
01:02:11,280 --> 01:02:15,040
Speaker 2: like jewelry, like things that are air looms, it'll automatically

1331
01:02:15,120 --> 01:02:15,720
Speaker 2: go in that will.

1332
01:02:15,920 --> 01:02:19,440
Speaker 7: Yeah, I'm saying that thinking obviously you're educated. How often

1333
01:02:19,520 --> 01:02:21,400
Speaker 7: are you meeting with your trust attorney? Because I was

1334
01:02:21,440 --> 01:02:23,200
Speaker 7: having a conversation with a young lady the other day

1335
01:02:23,520 --> 01:02:26,040
Speaker 7: and she's finding it hard to have her parents, you know,

1336
01:02:26,200 --> 01:02:28,480
Speaker 7: even buy into the idea of a trust. So how

1337
01:02:28,560 --> 01:02:31,640
Speaker 7: often did you meet with family if you did at all?

1338
01:02:31,760 --> 01:02:33,560
Speaker 7: And how often did you meet with the trust attorney?

1339
01:02:33,840 --> 01:02:35,120
Speaker 7: Is that like a once a year thing or was

1340
01:02:35,160 --> 01:02:37,840
Speaker 7: it every six months? Because I'm sure you acquiring properties

1341
01:02:37,880 --> 01:02:41,360
Speaker 7: and other assets throughout the year, Like, how often is

1342
01:02:41,400 --> 01:02:41,920
Speaker 7: that happening?

1343
01:02:42,360 --> 01:02:43,960
Speaker 2: In the beginning, when I started, we had to have

1344
01:02:44,000 --> 01:02:46,520
Speaker 2: a conversation literally it was about almost every other week,

1345
01:02:47,000 --> 01:02:50,200
Speaker 2: sometimes every week to plan us out with insurance and

1346
01:02:50,240 --> 01:02:53,640
Speaker 2: all that stuff. Very complicated. But once it was set,

1347
01:02:54,720 --> 01:02:57,720
Speaker 2: the updating of the trust is every three years, right,

1348
01:02:57,920 --> 01:03:00,560
Speaker 2: but if there's something of urgency that I need to update,

1349
01:03:00,720 --> 01:03:02,760
Speaker 2: because here's the thing, and I want to throw this

1350
01:03:02,840 --> 01:03:04,560
Speaker 2: part also, I'm gonna drop it. Y'all pick this up.

1351
01:03:05,240 --> 01:03:08,160
Speaker 2: When you're buying things in you're holding company, you're holding

1352
01:03:08,480 --> 01:03:11,800
Speaker 2: LLC should be in the name of your trust. So

1353
01:03:11,880 --> 01:03:17,080
Speaker 2: if something happens to you, the properties automatically fall into

1354
01:03:17,160 --> 01:03:21,720
Speaker 2: the trust, automatically fall in there, So you don't have

1355
01:03:21,800 --> 01:03:25,240
Speaker 2: to fund the trust because the trust own the LLC.

1356
01:03:26,160 --> 01:03:29,200
Speaker 2: So if let me give a quick example. You know

1357
01:03:29,240 --> 01:03:31,640
Speaker 2: how you put your name on every single LLC. You

1358
01:03:31,720 --> 01:03:33,200
Speaker 2: open up a LLC, you put your name on it,

1359
01:03:33,200 --> 01:03:34,760
Speaker 2: You open up the LLC, you put your name on it.

1360
01:03:35,040 --> 01:03:37,480
Speaker 2: But if you was to have the property one two

1361
01:03:37,560 --> 01:03:41,280
Speaker 2: three Smith Street in its own LLC, the name on

1362
01:03:41,560 --> 01:03:45,640
Speaker 2: that LLC would not be you, it would be your trust.

1363
01:03:46,600 --> 01:03:50,320
Speaker 2: So if something ever happens, it automatically goes to the

1364
01:03:50,400 --> 01:03:53,080
Speaker 2: trust because you sign the trust over as the owner.

1365
01:03:53,680 --> 01:03:57,320
Speaker 2: Does that make sense? Automatically so would trinkle effect. So

1366
01:03:57,480 --> 01:04:00,240
Speaker 2: with that being said, excuse me. So with that being said, said,

1367
01:04:00,360 --> 01:04:02,800
Speaker 2: you wouldn't have to fund one at a time. You

1368
01:04:02,880 --> 01:04:06,040
Speaker 2: could just have that trust on all these LLCs bile

1369
01:04:06,120 --> 01:04:09,440
Speaker 2: straight in from your holding. But also, to let me

1370
01:04:09,520 --> 01:04:13,120
Speaker 2: not glaze over something you said, it's so important to

1371
01:04:13,160 --> 01:04:15,200
Speaker 2: have the conversation with your family and sit them down

1372
01:04:15,480 --> 01:04:18,840
Speaker 2: and explain. Because my thing was, afterything's said and done,

1373
01:04:19,600 --> 01:04:21,800
Speaker 2: my lawyer, we would have the conversation with each one

1374
01:04:21,880 --> 01:04:25,680
Speaker 2: of them here's who's getting this. Who's the trust there's

1375
01:04:25,720 --> 01:04:28,760
Speaker 2: the trustee. This is what's going to happen. This is

1376
01:04:28,800 --> 01:04:30,960
Speaker 2: what it's supposed to be. I want you to do this,

1377
01:04:31,400 --> 01:04:34,120
Speaker 2: and it's a thing I'll call a letter of trust handwritten.

1378
01:04:34,760 --> 01:04:36,720
Speaker 2: I want this copy of this letter in my hand

1379
01:04:37,080 --> 01:04:40,920
Speaker 2: written form and my signature be copied for every generation,

1380
01:04:41,080 --> 01:04:43,560
Speaker 2: every trustee, so they could look and go he thought

1381
01:04:43,560 --> 01:04:47,840
Speaker 2: about me. I want them to see what I meant

1382
01:04:47,960 --> 01:04:52,160
Speaker 2: and why I did this, because that's powerful and they

1383
01:04:52,200 --> 01:04:54,960
Speaker 2: will get it and go. Man, my great great grandfather

1384
01:04:55,040 --> 01:04:58,640
Speaker 2: thought about me. So that letter you don't have to.

1385
01:04:59,320 --> 01:05:01,920
Speaker 2: But the thing is always impact. So you need to

1386
01:05:02,200 --> 01:05:06,000
Speaker 2: have that discussion with your kids, your grandkids. There's only

1387
01:05:06,080 --> 01:05:08,320
Speaker 2: so far trust can go. It only could go to

1388
01:05:08,440 --> 01:05:12,280
Speaker 2: the last person alive in your generation up to a

1389
01:05:12,360 --> 01:05:16,360
Speaker 2: certain age. So like if I have my grandchildren, my

1390
01:05:16,560 --> 01:05:19,240
Speaker 2: last one or he would have to now take the

1391
01:05:19,320 --> 01:05:23,240
Speaker 2: trust format and restart it again and follow the same thing.

1392
01:05:23,600 --> 01:05:25,240
Speaker 2: Trust can't live on an infamy.

1393
01:05:25,360 --> 01:05:27,880
Speaker 7: So you've created the generational wealth and the other part

1394
01:05:28,080 --> 01:05:31,080
Speaker 7: was just the sustainable wealth yep, Like that's the key, right,

1395
01:05:31,120 --> 01:05:33,560
Speaker 7: because it could get mixed up from generation generation. Yeah,

1396
01:05:33,560 --> 01:05:35,840
Speaker 7: but what you're doing is pretty much putting up the

1397
01:05:35,880 --> 01:05:39,040
Speaker 7: barriers like, no, we're going to sustain this forever forever.

1398
01:05:39,560 --> 01:05:41,720
Speaker 2: The biggest, biggest mistake that a lot of people make,

1399
01:05:41,840 --> 01:05:44,920
Speaker 2: unfortunately when we have real estate is thinking that our

1400
01:05:44,960 --> 01:05:48,680
Speaker 2: children want to be landlords. We can't. We can't assume

1401
01:05:48,720 --> 01:05:51,360
Speaker 2: that they want to be landlords. I had a friend

1402
01:05:51,440 --> 01:05:53,720
Speaker 2: of mine who I knew through someone else. He died,

1403
01:05:54,320 --> 01:05:57,960
Speaker 2: didn't have a trust, left the properties to his kids

1404
01:05:58,520 --> 01:06:01,120
Speaker 2: in a will. They so long because they didn't want

1405
01:06:01,120 --> 01:06:04,520
Speaker 2: nothing to do with real estate. That's that destroyed me

1406
01:06:04,840 --> 01:06:07,520
Speaker 2: because I knew what his objective was. So we need

1407
01:06:07,640 --> 01:06:09,440
Speaker 2: to put things in place to go, Okay, if you

1408
01:06:09,480 --> 01:06:10,840
Speaker 2: don't want to be a landlord, this is what we're

1409
01:06:10,840 --> 01:06:13,000
Speaker 2: gonna do. I'ma have a company do this, or we're

1410
01:06:13,000 --> 01:06:16,040
Speaker 2: gonna sell it. Put the properties in the brokerage account

1411
01:06:16,320 --> 01:06:20,120
Speaker 2: where it's gaining compound interest to do something. So that's

1412
01:06:20,160 --> 01:06:22,800
Speaker 2: the key. We need to stop, you know, really projecting

1413
01:06:23,520 --> 01:06:26,760
Speaker 2: our our wants and needs on children and grandkids when.

1414
01:06:26,680 --> 01:06:28,880
Speaker 3: They're like, yeah, I got my own plan, that's free,

1415
01:06:29,000 --> 01:06:29,360
Speaker 3: that's COO.

1416
01:06:29,520 --> 01:06:31,320
Speaker 5: Can you give a financial breakdown on how you was

1417
01:06:31,360 --> 01:06:32,440
Speaker 5: able to replace your salary?

1418
01:06:32,960 --> 01:06:36,160
Speaker 2: Yeah, real quick. The financial breakdown structure for me was

1419
01:06:36,640 --> 01:06:39,920
Speaker 2: I brought that one property, was making that six thousand

1420
01:06:39,960 --> 01:06:42,760
Speaker 2: a year, and then after making US six thousand a year,

1421
01:06:43,280 --> 01:06:46,440
Speaker 2: I said, I'm gonna keep doing this. But I took

1422
01:06:46,480 --> 01:06:49,880
Speaker 2: the tax returns and that money equated. But what triggered

1423
01:06:49,920 --> 01:06:56,080
Speaker 2: it was creating group economics partnerships. We need to understand

1424
01:06:56,200 --> 01:06:59,040
Speaker 2: the value of creating partners and how fast you can

1425
01:06:59,080 --> 01:07:02,600
Speaker 2: grow your portfolio with properties with partners. People say I

1426
01:07:02,640 --> 01:07:05,520
Speaker 2: have one hundred doors, right, They don't have one hundred

1427
01:07:05,520 --> 01:07:08,120
Speaker 2: doors by themselves. They have like ten partners, which is

1428
01:07:08,200 --> 01:07:11,640
Speaker 2: great because they're expanding their money. Why would you take

1429
01:07:11,680 --> 01:07:13,520
Speaker 2: one million dollars to buy one property if you could

1430
01:07:13,520 --> 01:07:16,400
Speaker 2: take one million dollars to spread down across five properties,

1431
01:07:17,200 --> 01:07:21,000
Speaker 2: that's five buildings grow in equity, that's five different properties.

1432
01:07:21,000 --> 01:07:24,600
Speaker 2: You're riding off on taxes. That's a whole nother scenario

1433
01:07:25,360 --> 01:07:29,040
Speaker 2: having riding off taxes. When you have a property management LLC,

1434
01:07:29,120 --> 01:07:30,840
Speaker 2: you're able to write off a portion of your light,

1435
01:07:31,560 --> 01:07:35,360
Speaker 2: gas car. You need to knowledge there's apps like Avalance

1436
01:07:35,840 --> 01:07:39,560
Speaker 2: cell phone, like, we don't take advantage of that portion

1437
01:07:39,800 --> 01:07:42,160
Speaker 2: of the business because we go Now I'm just gonna

1438
01:07:42,160 --> 01:07:45,480
Speaker 2: pay my tax when a wealthy is really maneuvering through

1439
01:07:45,520 --> 01:07:48,920
Speaker 2: the proper structure of taxes, because providing housing and jobs

1440
01:07:49,040 --> 01:07:51,760
Speaker 2: is the biggest thing that the government gives you is

1441
01:07:51,840 --> 01:07:53,600
Speaker 2: a tax break, and we don't take advantage.

1442
01:07:54,400 --> 01:07:56,680
Speaker 3: We should take advantage of those taxes.

1443
01:07:57,000 --> 01:07:59,400
Speaker 2: I make a good amount of money on my taxes

1444
01:07:59,640 --> 01:08:03,680
Speaker 2: because of having a property management LLC and a home office.

1445
01:08:04,040 --> 01:08:06,400
Speaker 2: A certain amount of your home you use it as

1446
01:08:06,440 --> 01:08:12,560
Speaker 2: an office, square footage, the computer you buy, write off, desk, printers,

1447
01:08:12,880 --> 01:08:15,200
Speaker 2: everything I mentioned. It's a write off. But we don't

1448
01:08:15,240 --> 01:08:18,680
Speaker 2: take advantage of that. Even even in the inception of

1449
01:08:18,800 --> 01:08:22,320
Speaker 2: having a business, you're taking a loss. You have a

1450
01:08:22,360 --> 01:08:24,720
Speaker 2: credit card, you don't have a business account, yet you

1451
01:08:24,800 --> 01:08:26,720
Speaker 2: can still write a portion of that off until you

1452
01:08:26,800 --> 01:08:29,040
Speaker 2: get a business account with an EI in and a

1453
01:08:29,080 --> 01:08:32,559
Speaker 2: business credit card because you need it to start your business. See,

1454
01:08:32,840 --> 01:08:35,600
Speaker 2: these are the things where we need to have that.

1455
01:08:35,640 --> 01:08:37,960
Speaker 3: Discussion and go, oh, that's dope, that's dope.

1456
01:08:38,200 --> 01:08:40,960
Speaker 2: But unfortunately a lot of times that what happens is

1457
01:08:41,680 --> 01:08:43,960
Speaker 2: we tend to compare how you're making money and I'm

1458
01:08:43,960 --> 01:08:46,320
Speaker 2: making money and say you're doing it wrong, and that's

1459
01:08:46,400 --> 01:08:48,920
Speaker 2: not true. There's so many different ways of making money,

1460
01:08:48,960 --> 01:08:51,080
Speaker 2: especially in real estate. Be like, oh, that's dope, I'm

1461
01:08:51,120 --> 01:08:53,280
Speaker 2: not doing it that way, but here's how I do it.

1462
01:08:53,680 --> 01:08:54,799
Speaker 2: A word, I got.

1463
01:08:54,680 --> 01:08:56,400
Speaker 3: Somebody who will like your way of doing it.

1464
01:08:57,200 --> 01:09:01,080
Speaker 2: And now the story gets bigger and bigger collaborating Like

1465
01:09:01,120 --> 01:09:04,080
Speaker 2: how you two guys collaborated, It's beautiful.

1466
01:09:04,160 --> 01:09:06,759
Speaker 3: Look at the growth of that. I collaborated with my guys.

1467
01:09:06,880 --> 01:09:10,600
Speaker 2: Ask the Marvin Mitchell for Path of prosperity collaboration and

1468
01:09:10,720 --> 01:09:12,719
Speaker 2: now we're gonna touch thousands of people.

1469
01:09:13,280 --> 01:09:14,719
Speaker 3: So yeah, I know I took it to all another

1470
01:09:14,760 --> 01:09:15,880
Speaker 3: places for us.

1471
01:09:17,720 --> 01:09:20,400
Speaker 7: You talked about partnerships, but there's something even when we

1472
01:09:20,479 --> 01:09:23,000
Speaker 7: started this episode about being in the right place all

1473
01:09:23,040 --> 01:09:25,640
Speaker 7: the time. Yes, and so being in that room with

1474
01:09:25,760 --> 01:09:28,720
Speaker 7: Juvenile you got to introduce to us. Ash was there too,

1475
01:09:28,920 --> 01:09:30,479
Speaker 7: and you knew him, and he was like, Yo, this

1476
01:09:30,560 --> 01:09:30,960
Speaker 7: is my guy.

1477
01:09:31,320 --> 01:09:31,479
Speaker 5: Right.

1478
01:09:31,640 --> 01:09:34,120
Speaker 7: We went to him five hundreds event we were together there.

1479
01:09:34,560 --> 01:09:37,439
Speaker 7: He talked about being in the right place all the time.

1480
01:09:37,479 --> 01:09:39,320
Speaker 7: Because I feel like you're one of those people who

1481
01:09:39,400 --> 01:09:42,559
Speaker 7: really personify that, right, Like I'm always seeing you everywhere

1482
01:09:42,560 --> 01:09:45,000
Speaker 7: and I'm like I'm watching you and you text me like, Yo,

1483
01:09:45,080 --> 01:09:46,680
Speaker 7: it's in my time, like, yo, bro, we're watching we

1484
01:09:46,760 --> 01:09:47,360
Speaker 7: see what's going on.

1485
01:09:47,680 --> 01:09:48,320
Speaker 6: He talk about that.

1486
01:09:48,880 --> 01:09:51,360
Speaker 2: Yeah, it's so important to invest in yourself and be

1487
01:09:51,439 --> 01:09:54,840
Speaker 2: in the right room, Like that's you cannot gain that

1488
01:09:55,240 --> 01:09:58,560
Speaker 2: just being around the same people. And that really was

1489
01:09:58,600 --> 01:10:01,240
Speaker 2: self explanatory my two friends when I went to go

1490
01:10:01,280 --> 01:10:04,160
Speaker 2: see that Browns home, like me being in that room,

1491
01:10:04,280 --> 01:10:06,680
Speaker 2: being in this room, that where I can talk to

1492
01:10:06,760 --> 01:10:09,880
Speaker 2: other people, I can network, people can fill my energy.

1493
01:10:10,400 --> 01:10:12,479
Speaker 2: You guys get to see the real me besides just

1494
01:10:12,560 --> 01:10:15,400
Speaker 2: watching a post. People get to find out that, oh,

1495
01:10:15,479 --> 01:10:18,960
Speaker 2: you actually investing in your growth, you actually doing something

1496
01:10:19,400 --> 01:10:21,599
Speaker 2: like this thing that's inside of me. This can't really

1497
01:10:21,680 --> 01:10:23,640
Speaker 2: come through a camera and a post the way that

1498
01:10:23,680 --> 01:10:26,160
Speaker 2: I wanted to because I'm passionate about this. But then

1499
01:10:26,200 --> 01:10:28,760
Speaker 2: when I talk to you guys, sometimes it's a little

1500
01:10:28,800 --> 01:10:31,160
Speaker 2: too much of a passion. But you know what is like,

1501
01:10:32,040 --> 01:10:34,720
Speaker 2: this is all I have because really talking to my

1502
01:10:34,800 --> 01:10:36,960
Speaker 2: people and trying to change our lives. I know my

1503
01:10:37,080 --> 01:10:39,040
Speaker 2: purpose of being here is to be in the right

1504
01:10:39,160 --> 01:10:41,760
Speaker 2: room and change lives, and I can't do that through

1505
01:10:41,840 --> 01:10:44,120
Speaker 2: that screen. I need for you to be able to

1506
01:10:44,320 --> 01:10:47,080
Speaker 2: hear me and see me, and through these interviews and stuff,

1507
01:10:47,160 --> 01:10:51,439
Speaker 2: like that and go. He just says something that motivate

1508
01:10:51,560 --> 01:10:53,920
Speaker 2: me and did something. So for those of you that

1509
01:10:54,080 --> 01:10:56,360
Speaker 2: think like me and you feel like me, we're not

1510
01:10:56,439 --> 01:10:58,479
Speaker 2: gonna get that. If you're in that room, we need

1511
01:10:58,560 --> 01:11:00,920
Speaker 2: you to come out be around I like minded people.

1512
01:11:01,040 --> 01:11:04,360
Speaker 2: Invest in yourself, pay for those mentorships, Pay to go

1513
01:11:04,479 --> 01:11:07,200
Speaker 2: to these places, fly to New York, fly to La Fi,

1514
01:11:07,320 --> 01:11:11,320
Speaker 2: to Miami. Let people see you beat be very active

1515
01:11:11,360 --> 01:11:16,400
Speaker 2: in comments, commenting, posting, talking like when you're doing that,

1516
01:11:17,360 --> 01:11:21,040
Speaker 2: people notice I started with one person online going live,

1517
01:11:21,520 --> 01:11:26,600
Speaker 2: I started teaching four people on a zoom now staying consistent.

1518
01:11:27,040 --> 01:11:28,840
Speaker 2: So I highly recommend you guys do that.

1519
01:11:29,360 --> 01:11:31,599
Speaker 5: When did you when we were able to quit your job?

1520
01:11:32,560 --> 01:11:36,200
Speaker 2: I quit my job literally in twenty fifteen, I said

1521
01:11:36,280 --> 01:11:39,400
Speaker 2: five years, and in twenty twenty I was ready to

1522
01:11:39,479 --> 01:11:40,960
Speaker 2: quit my job. I was able to leave me.

1523
01:11:41,200 --> 01:11:43,000
Speaker 6: He ain't quit his job. He fired his job.

1524
01:11:43,520 --> 01:11:43,920
Speaker 2: You know what I mean.

1525
01:11:43,960 --> 01:11:45,120
Speaker 6: They couldn't afford them anymore.

1526
01:11:45,200 --> 01:11:48,200
Speaker 5: So how many properties did that take you to be

1527
01:11:48,280 --> 01:11:48,760
Speaker 5: able to do that?

1528
01:11:48,960 --> 01:11:51,439
Speaker 2: Well? When I I was able to leave in twenty twenty,

1529
01:11:51,640 --> 01:11:55,120
Speaker 2: I stayed one more year. And the reason why because

1530
01:11:55,120 --> 01:11:58,320
Speaker 2: I was getting all my medical benefits I wasn't gonna

1531
01:11:58,360 --> 01:12:01,320
Speaker 2: leave with all giving you all them years and lead

1532
01:12:01,360 --> 01:12:03,840
Speaker 2: that medical behind. So I stayed till twenty twenty one,

1533
01:12:04,120 --> 01:12:06,200
Speaker 2: and I got all my properties, I mean, excuse me,

1534
01:12:06,240 --> 01:12:08,840
Speaker 2: and I got all my medical benefits. I left my

1535
01:12:08,960 --> 01:12:12,800
Speaker 2: job oning twenty four properties, and I was doing about

1536
01:12:12,840 --> 01:12:16,639
Speaker 2: fifteen thousand a month at that time, and I'm currently well,

1537
01:12:16,640 --> 01:12:19,200
Speaker 2: I'm selling now, downgrading some of the properties to do

1538
01:12:19,280 --> 01:12:22,280
Speaker 2: bigger deals. But I bought over thirty six properties around

1539
01:12:22,280 --> 01:12:24,120
Speaker 2: the United States that I've never seen to this day,

1540
01:12:24,400 --> 01:12:26,720
Speaker 2: and I don't plan on seeing them ever, none of them.

1541
01:12:27,240 --> 01:12:28,840
Speaker 7: The medical was the number one thing, because a lot

1542
01:12:28,840 --> 01:12:31,600
Speaker 7: of times it's usually like a financial goal, Like I

1543
01:12:31,680 --> 01:12:34,080
Speaker 7: remember being in the education system and I'm like, if

1544
01:12:34,080 --> 01:12:35,880
Speaker 7: I could just reach this goal, I'm out of here.

1545
01:12:35,960 --> 01:12:37,920
Speaker 7: Then you reached the goal and you sit, you set

1546
01:12:37,960 --> 01:12:39,559
Speaker 7: another one, you said, another one, he said another one,

1547
01:12:39,600 --> 01:12:42,120
Speaker 7: till it's like, well, this doesn't make sense. Was it

1548
01:12:42,280 --> 01:12:44,760
Speaker 7: just the medical or was there a financial aspect too

1549
01:12:44,800 --> 01:12:50,280
Speaker 7: that was like if I hit this number, then the verrizonocks.

1550
01:12:49,040 --> 01:12:52,479
Speaker 2: No, I want sents. The medical Like once the medical

1551
01:12:52,600 --> 01:12:56,080
Speaker 2: kicked in, I left. I could have stayed five more

1552
01:12:56,120 --> 01:12:58,960
Speaker 2: years for four pension. I didn't get a four pension right, so,

1553
01:12:59,160 --> 01:13:01,040
Speaker 2: and I was doing about a hundred thousand dollars a year.

1554
01:13:01,200 --> 01:13:03,000
Speaker 2: So I left with five years left. So I left

1555
01:13:03,000 --> 01:13:05,240
Speaker 2: half a million dollars on the table, not including overtime,

1556
01:13:05,640 --> 01:13:07,599
Speaker 2: like in Verizon overtime, you can make a quarter million

1557
01:13:07,640 --> 01:13:10,599
Speaker 2: dollars a year easy through in the like in overtime.

1558
01:13:11,000 --> 01:13:12,680
Speaker 2: But I left that money, and then I left the

1559
01:13:12,720 --> 01:13:15,120
Speaker 2: extra pension money. So I left almost a million dollars.

1560
01:13:15,960 --> 01:13:20,519
Speaker 2: But it would have took me five more years when

1561
01:13:20,560 --> 01:13:22,720
Speaker 2: I can make a million dollars in a month or

1562
01:13:22,840 --> 01:13:25,880
Speaker 2: day or two days or three days, depending on up

1563
01:13:25,960 --> 01:13:29,000
Speaker 2: to me. So, but I wanted the medical because this

1564
01:13:29,360 --> 01:13:33,559
Speaker 2: like medical has bankrupt people. Medical you get sick, wife

1565
01:13:33,600 --> 01:13:35,680
Speaker 2: gets sick, kids get sick, somebody gets sick. You can

1566
01:13:35,760 --> 01:13:37,080
Speaker 2: lose it all. So the goal was to get the

1567
01:13:37,120 --> 01:13:40,880
Speaker 2: medical and the thought process of how important it is

1568
01:13:40,960 --> 01:13:42,719
Speaker 2: to be around the right people, like I'll never forget.

1569
01:13:42,760 --> 01:13:44,760
Speaker 2: I went in on Instagram live the day I was

1570
01:13:45,240 --> 01:13:47,680
Speaker 2: leaving the job. I said, look, I'm driving in. I'm like, Yo,

1571
01:13:47,800 --> 01:13:50,040
Speaker 2: this is it. I'm leaving the job, y'all, Like I

1572
01:13:50,120 --> 01:13:52,960
Speaker 2: can't believe this moment, you know, I spoke about it,

1573
01:13:53,160 --> 01:13:54,720
Speaker 2: brought it to it. Ziah could do the same thing,

1574
01:13:55,080 --> 01:13:56,919
Speaker 2: and you know, and I went in and had ask

1575
01:13:57,200 --> 01:14:00,639
Speaker 2: hat shirt, and people like, yo, you can back to work.

1576
01:14:01,360 --> 01:14:04,200
Speaker 2: I said, y'all think I'm coming back like this, So no,

1577
01:14:04,280 --> 01:14:07,879
Speaker 2: I'm out of here. And the mindset was the mindset

1578
01:14:07,960 --> 01:14:09,840
Speaker 2: was scary because there was like, no, you really just

1579
01:14:09,880 --> 01:14:13,200
Speaker 2: stay Yo, five more years, man, you're five more years.

1580
01:14:13,240 --> 01:14:15,519
Speaker 2: You could get a full pension. I say, Yo, God

1581
01:14:15,560 --> 01:14:16,120
Speaker 2: bless you. Man.

1582
01:14:17,000 --> 01:14:17,880
Speaker 6: They don't get God blessed.

1583
01:14:17,960 --> 01:14:20,519
Speaker 2: Some people would never get it. There's Indians, there's chiefs,

1584
01:14:20,520 --> 01:14:23,360
Speaker 2: there's buyers, there's sellers, there's owners and his renters. That's

1585
01:14:23,360 --> 01:14:25,720
Speaker 2: how it's meant to be. Life is definitely going to

1586
01:14:25,760 --> 01:14:28,759
Speaker 2: be like that. You can't save everyone like us trying

1587
01:14:28,800 --> 01:14:33,120
Speaker 2: to save someone. That's a problem because not all lives

1588
01:14:33,160 --> 01:14:35,439
Speaker 2: are meant to be saved. Some lives were meant to

1589
01:14:35,520 --> 01:14:37,720
Speaker 2: be examples of what you should never do in life.

1590
01:14:38,240 --> 01:14:40,439
Speaker 2: Some people lives were meant to crash and burn to

1591
01:14:40,479 --> 01:14:42,840
Speaker 2: be an example for twenty other people to go, I

1592
01:14:42,920 --> 01:14:45,799
Speaker 2: don't ever want to be like him. That was their destiny.

1593
01:14:46,040 --> 01:14:48,160
Speaker 2: But when you run around you're trying to save people lives. Now,

1594
01:14:48,200 --> 01:14:50,960
Speaker 2: you're stopping yourself from growing to your full potential because

1595
01:14:50,960 --> 01:14:52,840
Speaker 2: you're trying to be a life saver, so you'll never

1596
01:14:52,920 --> 01:14:55,200
Speaker 2: reach your potential. So now there's two groups of people

1597
01:14:55,240 --> 01:14:57,400
Speaker 2: caught in the mix. You have people like us where

1598
01:14:57,439 --> 01:14:59,560
Speaker 2: we go. We could look and go, well, I know

1599
01:14:59,680 --> 01:15:02,439
Speaker 2: my per of what I'm supposed to do. That destiny

1600
01:15:02,479 --> 01:15:04,320
Speaker 2: has already been spoken for them, in mine has been

1601
01:15:04,400 --> 01:15:07,000
Speaker 2: chosen for me. So I don't think about trying to

1602
01:15:07,080 --> 01:15:09,439
Speaker 2: change somebody's mind when it's already been set in stone.

1603
01:15:10,040 --> 01:15:11,760
Speaker 2: Let people come to me and then I know they're

1604
01:15:11,800 --> 01:15:13,080
Speaker 2: ready to absorb the message.

1605
01:15:13,960 --> 01:15:16,519
Speaker 6: Thirty six properties out of state.

1606
01:15:16,520 --> 01:15:18,880
Speaker 7: It's always been a thing, but originally it was because

1607
01:15:19,160 --> 01:15:21,560
Speaker 7: just the pricing of being in New York. Yes, but

1608
01:15:21,680 --> 01:15:23,920
Speaker 7: we're looking at bigger deals. Are those bigger deals still

1609
01:15:23,920 --> 01:15:25,479
Speaker 7: going to be out of state? Or we're looking like,

1610
01:15:25,520 --> 01:15:27,599
Speaker 7: all right, well at a point where we could probably

1611
01:15:27,680 --> 01:15:29,720
Speaker 7: do something major here in New York.

1612
01:15:30,120 --> 01:15:32,960
Speaker 2: I would never buy property in New York. I would

1613
01:15:33,000 --> 01:15:35,559
Speaker 2: never buy proper in LA. I would never do something

1614
01:15:35,680 --> 01:15:38,280
Speaker 2: like that. Like I would buy properties and like now

1615
01:15:38,320 --> 01:15:41,040
Speaker 2: I'm doing looking to do syndication deals for one hundred unit,

1616
01:15:41,080 --> 01:15:43,600
Speaker 2: two hundred units, three four five million dollars stuff like that.

1617
01:15:43,880 --> 01:15:46,240
Speaker 2: But those are not buying holes. Those are things that

1618
01:15:46,320 --> 01:15:48,760
Speaker 2: we're buying for one hundred units that we can add

1619
01:15:48,960 --> 01:15:53,360
Speaker 2: value to by doing upgrades, raising a rent, laundry rooms,

1620
01:15:53,560 --> 01:15:57,360
Speaker 2: play things like that, and then as the syndication, we

1621
01:15:57,400 --> 01:15:59,880
Speaker 2: would sell the deal, sell that property in five years,

1622
01:16:00,120 --> 01:16:02,479
Speaker 2: and everybody walks away with their money. But I would

1623
01:16:02,520 --> 01:16:04,639
Speaker 2: never do an individual deal with a Brownstone of buying

1624
01:16:04,680 --> 01:16:07,559
Speaker 2: something for three to four million dollars or seven million

1625
01:16:07,600 --> 01:16:10,439
Speaker 2: dollars because, like I mentioned, a million dollar mortgage, it's

1626
01:16:10,479 --> 01:16:12,639
Speaker 2: ten thousand dollars. You would never make that rent back.

1627
01:16:12,880 --> 01:16:15,040
Speaker 2: So then there's other plays that you would have to do,

1628
01:16:15,400 --> 01:16:17,880
Speaker 2: and those plays are very risky play because you're relying

1629
01:16:17,960 --> 01:16:20,120
Speaker 2: on the banking system to state the way it is

1630
01:16:20,160 --> 01:16:22,920
Speaker 2: when you're doing these kind of renovations and things of

1631
01:16:22,960 --> 01:16:24,960
Speaker 2: that nature. And now I have people that have been

1632
01:16:25,000 --> 01:16:27,400
Speaker 2: doing fixing flips and it's not really working out for them,

1633
01:16:27,600 --> 01:16:30,679
Speaker 2: where the money's not coming in. Banks are not allowing

1634
01:16:30,760 --> 01:16:33,519
Speaker 2: you to get that eighty percent, seventy percent, seventy five

1635
01:16:33,560 --> 01:16:35,240
Speaker 2: percent when you flip, and you'd be like, oh, I'm

1636
01:16:35,240 --> 01:16:37,760
Speaker 2: gonna pull this much money out. Nah, it's not working

1637
01:16:37,840 --> 01:16:40,320
Speaker 2: like that no more. But so my structure of guaranteed

1638
01:16:40,600 --> 01:16:44,240
Speaker 2: income that's solid. That's for somebody who's going to work

1639
01:16:44,320 --> 01:16:46,519
Speaker 2: every day that goes. I don't have to see a property.

1640
01:16:46,560 --> 01:16:48,439
Speaker 2: I don't have to do nothing. I got eight thousand

1641
01:16:48,479 --> 01:16:50,800
Speaker 2: dollars storm deal with eight thousand dollars. I got a

1642
01:16:50,880 --> 01:16:53,280
Speaker 2: fall one K sitting with one hundred thousand dollars. I

1643
01:16:53,479 --> 01:16:55,760
Speaker 2: know I can do it. I have people in my mentorships.

1644
01:16:55,760 --> 01:16:58,200
Speaker 2: I have people that are doing it to this day,

1645
01:16:58,640 --> 01:17:00,960
Speaker 2: changing their lives. One pre they out of time because

1646
01:17:00,960 --> 01:17:02,679
Speaker 2: the goal is to replace your salary.

1647
01:17:03,000 --> 01:17:05,000
Speaker 5: So speaking about your mentorship, you when did you get

1648
01:17:05,000 --> 01:17:07,760
Speaker 5: into the education space? When did you start actually, you know,

1649
01:17:07,880 --> 01:17:08,800
Speaker 5: teaching people what you do.

1650
01:17:09,280 --> 01:17:13,280
Speaker 2: I actually started when I first went online, Like the

1651
01:17:13,360 --> 01:17:17,320
Speaker 2: goal was to teach people, you know, when George Floyd

1652
01:17:17,439 --> 01:17:20,320
Speaker 2: situation happened, I knew real estate was it and I

1653
01:17:20,400 --> 01:17:22,719
Speaker 2: wanted to educate people. So I turned through my phone

1654
01:17:22,800 --> 01:17:25,639
Speaker 2: Instagram Live and I was most awkward thing in the world.

1655
01:17:25,680 --> 01:17:28,120
Speaker 2: I was looking away and I just lens off foggy

1656
01:17:28,160 --> 01:17:29,559
Speaker 2: and I said, I want to teach four people how

1657
01:17:29,600 --> 01:17:32,160
Speaker 2: to buy real estate out of state. Send me a message.

1658
01:17:32,600 --> 01:17:34,519
Speaker 2: I looked at my DM there was like six people.

1659
01:17:35,040 --> 01:17:37,719
Speaker 2: So I start teaching them for sitching them six first

1660
01:17:38,000 --> 01:17:39,720
Speaker 2: for the whole month, how to invest out of state,

1661
01:17:39,760 --> 01:17:42,120
Speaker 2: how to do this, and I start videotaping. I started

1662
01:17:42,120 --> 01:17:44,960
Speaker 2: talking about it online, showing a class, and people were excited.

1663
01:17:45,280 --> 01:17:47,160
Speaker 2: I started getting more messages, but I said, you know what,

1664
01:17:47,400 --> 01:17:49,400
Speaker 2: I'm only going to do four people every month. That

1665
01:17:49,520 --> 01:17:52,920
Speaker 2: was like October, November came. I was taught those four people,

1666
01:17:53,200 --> 01:17:55,639
Speaker 2: and by December showing you know, all the people who

1667
01:17:55,680 --> 01:17:57,640
Speaker 2: are in the class, posting and talking about out of

1668
01:17:57,720 --> 01:18:00,600
Speaker 2: state and this and that. It got so look, I

1669
01:18:00,680 --> 01:18:03,360
Speaker 2: had ten people, twelve people signing up, but I was

1670
01:18:03,400 --> 01:18:06,160
Speaker 2: committed to doing four. And I said. There was one

1671
01:18:06,160 --> 01:18:07,720
Speaker 2: young lady who called me New Year's Eve, I never

1672
01:18:07,800 --> 01:18:10,559
Speaker 2: forget this, she called. She literally was almost in tears.

1673
01:18:10,880 --> 01:18:12,800
Speaker 2: She says, storm, I don't want to come into the

1674
01:18:12,920 --> 01:18:15,880
Speaker 2: New Years doing the same thing I'm doing. I know

1675
01:18:16,080 --> 01:18:18,640
Speaker 2: what you're teaching could change my life. How can I

1676
01:18:18,760 --> 01:18:20,600
Speaker 2: pay to move up? How can I be in this

1677
01:18:20,760 --> 01:18:22,479
Speaker 2: next class you're going to teach for the New Years?

1678
01:18:22,479 --> 01:18:25,800
Speaker 2: Because she was scheduled for March, she said, I can't wait.

1679
01:18:26,240 --> 01:18:28,559
Speaker 2: And I said, yo, you're doing a disservice. That's when

1680
01:18:28,600 --> 01:18:31,599
Speaker 2: I reached out to Ash and I said, bro, how

1681
01:18:31,640 --> 01:18:33,519
Speaker 2: can I do this thing on a bigger scale? And

1682
01:18:33,600 --> 01:18:35,240
Speaker 2: he looked and he said, first thing you gotta do

1683
01:18:35,280 --> 01:18:37,919
Speaker 2: is stop teaching live. He said, you got enough material

1684
01:18:38,160 --> 01:18:40,960
Speaker 2: to turn into a course. I said, a course. He said, yes,

1685
01:18:41,040 --> 01:18:43,080
Speaker 2: all those videos you got, Let's get on a call.

1686
01:18:43,160 --> 01:18:45,080
Speaker 2: Let's get on a zoom. He showed me how to

1687
01:18:45,120 --> 01:18:47,439
Speaker 2: do it boom. Then I said, oh, I could teach

1688
01:18:47,520 --> 01:18:49,800
Speaker 2: more people. I can do the course. I can give that,

1689
01:18:51,040 --> 01:18:52,880
Speaker 2: But from the beginning I wanted to give people the

1690
01:18:52,960 --> 01:18:54,280
Speaker 2: knowledge to be able to change their life.

1691
01:18:54,479 --> 01:18:57,080
Speaker 5: So now you have a mentorship. Yep, we'll talk about them.

1692
01:18:57,120 --> 01:18:57,960
Speaker 5: What does that mentorship?

1693
01:18:58,000 --> 01:19:01,519
Speaker 2: And clue the mentorship includes you getting all everything I

1694
01:19:01,640 --> 01:19:03,560
Speaker 2: talk about. I have three courses, so I give you

1695
01:19:03,680 --> 01:19:06,120
Speaker 2: one that's Mastering out of State Investing that gives you

1696
01:19:06,240 --> 01:19:08,280
Speaker 2: soup the nuts how to invest out of state. Then

1697
01:19:08,320 --> 01:19:10,960
Speaker 2: another one called the three must Have LLCs, where I

1698
01:19:11,040 --> 01:19:14,000
Speaker 2: give you the complete breakdown of everything with the LLCs

1699
01:19:14,360 --> 01:19:16,880
Speaker 2: simplify form. Then I have one called the Power of

1700
01:19:16,920 --> 01:19:19,519
Speaker 2: a Living Trust that talks about my living trust, how

1701
01:19:19,600 --> 01:19:22,200
Speaker 2: I structure it. Reading the Rockefeller Trust so you get

1702
01:19:22,240 --> 01:19:25,320
Speaker 2: all that information, you get a year's mentorship sitting with

1703
01:19:25,520 --> 01:19:30,439
Speaker 2: me and I do weekly calls and also do quarterly calls,

1704
01:19:30,439 --> 01:19:33,519
Speaker 2: and I teach my mentor my mentees in the ranks

1705
01:19:34,160 --> 01:19:38,160
Speaker 2: to become educators. That's the thing I highlight them. I

1706
01:19:38,240 --> 01:19:41,840
Speaker 2: teach them to become educators. Educators teach the class.

1707
01:19:41,680 --> 01:19:44,519
Speaker 3: Because I need them to start their own mentorship so

1708
01:19:44,600 --> 01:19:45,599
Speaker 3: they can now teach people.

1709
01:19:46,000 --> 01:19:49,560
Speaker 5: So very you impressed me, especially with your knowledge on

1710
01:19:49,880 --> 01:19:51,800
Speaker 5: the living trust situation. And I used to actually be

1711
01:19:51,840 --> 01:19:53,160
Speaker 5: a financial advisor for twelve years.

1712
01:19:53,240 --> 01:19:53,800
Speaker 2: Oh, get out of here.

1713
01:19:53,880 --> 01:19:57,200
Speaker 5: So yeah, so you know, it's very rare that I

1714
01:19:57,280 --> 01:20:00,559
Speaker 5: come across somebody that's like, actually, you know, very impressive

1715
01:20:00,560 --> 01:20:08,640
Speaker 5: with that. You delivered it. You delivered it in a

1716
01:20:08,760 --> 01:20:10,560
Speaker 5: in a in a high level. So you have a

1717
01:20:10,680 --> 01:20:13,120
Speaker 5: you have a very good gift of communication. Oh man,

1718
01:20:13,160 --> 01:20:16,839
Speaker 5: thank cause that's important, especially when dealing with complicated issues.

1719
01:20:16,840 --> 01:20:18,880
Speaker 5: A lot of times, even if you know something, it's

1720
01:20:18,960 --> 01:20:21,240
Speaker 5: kind of hard to communicate it, and that's what stops

1721
01:20:21,240 --> 01:20:22,960
Speaker 5: a lot of people from learning because they feel like

1722
01:20:23,040 --> 01:20:25,280
Speaker 5: it's too it's too over their heads to advance and

1723
01:20:25,360 --> 01:20:28,200
Speaker 5: a person really can't communicate it correctly. So they just like,

1724
01:20:28,280 --> 01:20:30,200
Speaker 5: you know, just stay away from it. But I'm a

1725
01:20:30,280 --> 01:20:35,479
Speaker 5: big proponent for like online education because I feel like

1726
01:20:35,640 --> 01:20:39,479
Speaker 5: that's where college and formal education kind of failed us,

1727
01:20:39,880 --> 01:20:41,760
Speaker 5: because it's like you're not learning these type of things

1728
01:20:41,800 --> 01:20:43,280
Speaker 5: like the trust and stuff like that, Like you're not

1729
01:20:43,840 --> 01:20:46,479
Speaker 5: learning that at any university, even if you study business

1730
01:20:46,520 --> 01:20:48,320
Speaker 5: and not teaching you that. So that's the stuff that

1731
01:20:48,360 --> 01:20:49,880
Speaker 5: you actually have to learn in the real world. And

1732
01:20:49,920 --> 01:20:51,719
Speaker 5: that's what I learned, like just being in the financial

1733
01:20:51,760 --> 01:20:54,960
Speaker 5: planning world. These are like retreats and meetings that I

1734
01:20:55,120 --> 01:20:57,439
Speaker 5: was going to and they was having conversations about trust,

1735
01:20:57,840 --> 01:20:59,800
Speaker 5: or you're on the golf course and you're talking to

1736
01:20:59,840 --> 01:21:01,840
Speaker 5: your friend and they're telling you about it, educating you

1737
01:21:01,920 --> 01:21:04,960
Speaker 5: on the space. But for the vast majority of people,

1738
01:21:05,000 --> 01:21:09,280
Speaker 5: we're not in that circle professionally or personally to have

1739
01:21:09,439 --> 01:21:13,120
Speaker 5: those conversations the conversations that we have and it's like, yo,

1740
01:21:13,280 --> 01:21:15,760
Speaker 5: we want to go to the club, or even if

1741
01:21:15,800 --> 01:21:19,400
Speaker 5: it's a productive conversation, it's a conversation of like, you know,

1742
01:21:19,720 --> 01:21:22,200
Speaker 5: how can you fill out your student loan application for

1743
01:21:22,280 --> 01:21:24,200
Speaker 5: your child? Like you know, these are the conversations that

1744
01:21:24,280 --> 01:21:27,479
Speaker 5: you have in with your peers because usually people conversate

1745
01:21:27,560 --> 01:21:30,880
Speaker 5: on their level, So your problems, your issues are the

1746
01:21:30,920 --> 01:21:33,400
Speaker 5: same issues as somebody else. The credy thing about it

1747
01:21:33,600 --> 01:21:37,360
Speaker 5: is that but like the vast majority, their problems are

1748
01:21:37,920 --> 01:21:40,439
Speaker 5: like they don't have enough money, so the problems are

1749
01:21:40,520 --> 01:21:43,160
Speaker 5: like how can I get a mortgage? Or how can

1750
01:21:43,200 --> 01:21:45,679
Speaker 5: I put my kid through student loan? But some people

1751
01:21:45,920 --> 01:21:48,519
Speaker 5: problems is that they have too much money, So their

1752
01:21:48,600 --> 01:21:51,559
Speaker 5: problems is like how can I not pay taxes? How

1753
01:21:51,640 --> 01:21:53,840
Speaker 5: can I avoid the state tax? How can like that's

1754
01:21:53,880 --> 01:21:57,360
Speaker 5: a problem. You know what I'm saying. Good, So you

1755
01:21:57,479 --> 01:21:59,680
Speaker 5: end up do yeah, So you end up communicating that,

1756
01:22:00,000 --> 01:22:03,320
Speaker 5: you share resources and you share information, but very few

1757
01:22:03,400 --> 01:22:06,880
Speaker 5: people actually get that information because they're not in that conversation.

1758
01:22:07,520 --> 01:22:11,120
Speaker 5: So now with the online education space, it's opened up.

1759
01:22:11,280 --> 01:22:14,000
Speaker 5: It's like a glitch in a matrix where it's opened

1760
01:22:14,080 --> 01:22:17,160
Speaker 5: up that what used to be a secret conversation and

1761
01:22:17,280 --> 01:22:19,960
Speaker 5: now it's open to the masses. And that's really life

1762
01:22:20,040 --> 01:22:21,800
Speaker 5: changing on a variety of different things, as far as

1763
01:22:21,840 --> 01:22:26,120
Speaker 5: on the investment side, real estate of course, on the

1764
01:22:26,240 --> 01:22:29,720
Speaker 5: trust side and the LLC. That was good information as well,

1765
01:22:30,080 --> 01:22:32,439
Speaker 5: because that's something that people don't really dig too deep

1766
01:22:32,479 --> 01:22:35,000
Speaker 5: in either that they just talk about setting up an LLC,

1767
01:22:35,160 --> 01:22:36,960
Speaker 5: setting up a c corp escort by a cool But

1768
01:22:38,080 --> 01:22:40,240
Speaker 5: there's levels, you know what I'm saying, Like there's levels

1769
01:22:40,280 --> 01:22:43,439
Speaker 5: to everything. So it's like, all right, you can go

1770
01:22:43,520 --> 01:22:46,160
Speaker 5: to high school, but that's not a bachelor degree, and

1771
01:22:46,160 --> 01:22:48,160
Speaker 5: if you get a bachelor's degree, that's not a master's degree,

1772
01:22:48,160 --> 01:22:49,960
Speaker 5: and a master's degree is not a doctorate degree. So

1773
01:22:50,280 --> 01:22:53,479
Speaker 5: you should always try to further your education because that's

1774
01:22:53,600 --> 01:22:55,559
Speaker 5: only that's the only thing that's really going to save

1775
01:22:55,600 --> 01:22:57,800
Speaker 5: you in this world. Yes, like your education is the

1776
01:22:57,800 --> 01:22:59,080
Speaker 5: only thing that can save you, and that's the thing

1777
01:22:59,120 --> 01:23:01,320
Speaker 5: that people really learn or on COVID. And this is why,

1778
01:23:01,439 --> 01:23:03,479
Speaker 5: like even our platform rely took off because it's like

1779
01:23:03,960 --> 01:23:07,439
Speaker 5: now you're in a space where you understand that you

1780
01:23:07,760 --> 01:23:11,000
Speaker 5: are not going to just go to work and think

1781
01:23:11,080 --> 01:23:12,840
Speaker 5: that that's going to help because you can't even get

1782
01:23:12,880 --> 01:23:14,920
Speaker 5: a job. You wasn't even able to go to work.

1783
01:23:15,479 --> 01:23:18,760
Speaker 5: The government at a certain point stopped giving money. They

1784
01:23:18,840 --> 01:23:21,160
Speaker 5: gave you some stimulus, but then that's stopped, so you

1785
01:23:21,280 --> 01:23:25,160
Speaker 5: can't rely on government to save you. And the only

1786
01:23:25,320 --> 01:23:28,759
Speaker 5: thing that we really have in this world is our education,

1787
01:23:28,880 --> 01:23:30,960
Speaker 5: because that can't be taken away from you exact and

1788
01:23:31,080 --> 01:23:33,760
Speaker 5: with your education you could always you can always create

1789
01:23:33,840 --> 01:23:36,800
Speaker 5: new opportunities, Like you can give somebody a million dollars

1790
01:23:36,960 --> 01:23:39,280
Speaker 5: and they can blow it, and then you can have

1791
01:23:39,400 --> 01:23:41,040
Speaker 5: a business and you can make a million dollars and

1792
01:23:41,080 --> 01:23:43,680
Speaker 5: you can you can potentially mess up that bag as well.

1793
01:23:43,760 --> 01:23:45,679
Speaker 5: The difference is that the person that has the business

1794
01:23:45,720 --> 01:23:47,960
Speaker 5: has a system in place to actually get a million dollars.

1795
01:23:48,360 --> 01:23:51,960
Speaker 5: So his odds of doing that again is tremendously higher

1796
01:23:52,200 --> 01:23:54,519
Speaker 5: than somebody that just got a million dollars because they

1797
01:23:54,560 --> 01:23:57,639
Speaker 5: were talented or because they won the lottery, because once

1798
01:23:57,720 --> 01:24:00,240
Speaker 5: that talent goes away or once the lottery goes way,

1799
01:24:00,439 --> 01:24:02,639
Speaker 5: you don't have systems in place to make that happen again.

1800
01:24:03,120 --> 01:24:07,120
Speaker 5: The systems in place, it gives you a tremendously greater

1801
01:24:07,240 --> 01:24:09,880
Speaker 5: opportunity to make that million dollars again, even if you

1802
01:24:09,960 --> 01:24:13,479
Speaker 5: made mistakes. And that's what you see people that go

1803
01:24:13,680 --> 01:24:16,200
Speaker 5: bankrupt and then they get it right back. They fall

1804
01:24:16,240 --> 01:24:18,160
Speaker 5: on hard times, they get it right back because they

1805
01:24:18,240 --> 01:24:20,120
Speaker 5: have the information and they have the relationships. Those the

1806
01:24:20,160 --> 01:24:23,200
Speaker 5: two biggest things. So I applaud for what I applaud

1807
01:24:23,240 --> 01:24:25,240
Speaker 5: you for what you're doing. And I encourage anybody that

1808
01:24:25,320 --> 01:24:28,799
Speaker 5: wants to further that education to check out your mentorship

1809
01:24:28,800 --> 01:24:31,560
Speaker 5: because I think that it's something that is extremely beneficial

1810
01:24:31,640 --> 01:24:33,479
Speaker 5: and it's helpful, and like I said, it's kind of

1811
01:24:33,760 --> 01:24:36,080
Speaker 5: you know, a way of higher education. And we spend

1812
01:24:36,080 --> 01:24:38,840
Speaker 5: one hundred thousand dollars on a liberal arts degree where

1813
01:24:39,120 --> 01:24:41,280
Speaker 5: you're just hoping that you could potentially get a job.

1814
01:24:41,320 --> 01:24:41,720
Speaker 6: Good luck.

1815
01:24:41,960 --> 01:24:46,479
Speaker 5: So it's like that's not in today's in today's day

1816
01:24:46,520 --> 01:24:48,320
Speaker 5: and age, that's not really the best way to go

1817
01:24:48,400 --> 01:24:50,400
Speaker 5: about it. So you know, what we do with Eyo

1818
01:24:50,520 --> 01:24:54,080
Speaker 5: University earn your leasure to the platforms anybody that comes on.

1819
01:24:54,240 --> 01:24:57,919
Speaker 5: We always try to, you know, have a special discount

1820
01:24:58,040 --> 01:25:01,080
Speaker 5: for what we call our earners, so you know, everybody

1821
01:25:01,200 --> 01:25:03,920
Speaker 5: usually obliges, and you were you know, kind enough to

1822
01:25:04,479 --> 01:25:06,720
Speaker 5: oblige that, so thank you for that. So what we're

1823
01:25:06,760 --> 01:25:09,800
Speaker 5: going to do is two thousand dollars off I believe

1824
01:25:09,880 --> 01:25:13,800
Speaker 5: two thousand dollars off the current price. And but it's

1825
01:25:13,840 --> 01:25:15,720
Speaker 5: a special website that we are set up for that.

1826
01:25:15,840 --> 01:25:19,240
Speaker 5: So it's EYL Employed Millionaire dot com because that's you,

1827
01:25:19,520 --> 01:25:22,360
Speaker 5: that's your company employed Millionaire. So we just added the

1828
01:25:22,400 --> 01:25:24,400
Speaker 5: E y L in front of that real simple EYL

1829
01:25:24,520 --> 01:25:29,280
Speaker 5: employed Millionaire dot com and that's you know, storms mentorship

1830
01:25:29,479 --> 01:25:32,920
Speaker 5: And like I said, that particular website there's no code Tonne.

1831
01:25:32,920 --> 01:25:34,519
Speaker 5: You just go to that website and you get two

1832
01:25:34,600 --> 01:25:36,800
Speaker 5: thousand dollars off if you want to, you know, for

1833
01:25:36,960 --> 01:25:39,799
Speaker 5: the information and learn just probably to trust stuff alone.

1834
01:25:40,320 --> 01:25:44,920
Speaker 5: It's worth that because like I said, that's extremely valuable thousands. Yeah, yeah,

1835
01:25:45,080 --> 01:25:46,880
Speaker 5: that's extremely valuable. But then when you add the real

1836
01:25:47,000 --> 01:25:50,040
Speaker 5: estate and the LLC and the weekly calls, you know,

1837
01:25:50,120 --> 01:25:52,000
Speaker 5: it's something that if you want to invest in your education,

1838
01:25:52,080 --> 01:25:54,519
Speaker 5: I was strong, strongly consider you do that. So once

1839
01:25:54,560 --> 01:25:58,920
Speaker 5: again it's e y L Employed Millionaire dot com and

1840
01:25:59,000 --> 01:26:02,559
Speaker 5: that is for two thousand dollars off of the mentorship program.

1841
01:26:03,240 --> 01:26:06,479
Speaker 5: But before we leave, I want you to just speak

1842
01:26:06,520 --> 01:26:09,280
Speaker 5: to people that are currently employed right now trying to

1843
01:26:09,320 --> 01:26:11,960
Speaker 5: figure it out. They're working in on the file. They

1844
01:26:12,000 --> 01:26:13,679
Speaker 5: know that they want to do more with their life,

1845
01:26:14,160 --> 01:26:16,680
Speaker 5: but they just haven't really been able to kind of

1846
01:26:17,200 --> 01:26:19,599
Speaker 5: you know, figure that part out yet and they might

1847
01:26:19,680 --> 01:26:22,120
Speaker 5: be frustrated. They might not you know, because you was

1848
01:26:22,200 --> 01:26:25,479
Speaker 5: once in that position, and Troy, you might even want

1849
01:26:25,479 --> 01:26:26,800
Speaker 5: to add to this as well because you was once

1850
01:26:26,840 --> 01:26:29,120
Speaker 5: in that position as well. What can you tell the

1851
01:26:29,200 --> 01:26:31,960
Speaker 5: people that are in that position right now?

1852
01:26:32,320 --> 01:26:34,120
Speaker 7: I'll just add to it because I know, like how

1853
01:26:34,240 --> 01:26:36,240
Speaker 7: much passion's about to come out, because we sat in

1854
01:26:36,320 --> 01:26:38,439
Speaker 7: these positions, and we sat at the table and we

1855
01:26:38,520 --> 01:26:41,479
Speaker 7: had lunch with these people who really didn't understand it

1856
01:26:42,040 --> 01:26:43,880
Speaker 7: until you tell them like, this is not this is it?

1857
01:26:44,080 --> 01:26:45,640
Speaker 7: Like you're not going to see me if I if

1858
01:26:45,680 --> 01:26:47,920
Speaker 7: I get to this point. And so like even when

1859
01:26:47,960 --> 01:26:49,400
Speaker 7: you went to work that last day, they're like, no,

1860
01:26:49,479 --> 01:26:51,479
Speaker 7: I know you're coming back, or like, hey, you're gonna

1861
01:26:51,520 --> 01:26:53,560
Speaker 7: leave your pension on the table, or hey, you know

1862
01:26:53,640 --> 01:26:56,920
Speaker 7: we're going to get reimbursed for the years that we

1863
01:26:57,160 --> 01:26:58,080
Speaker 7: were in the contract.

1864
01:26:58,120 --> 01:27:01,120
Speaker 6: And I'm like, keep all that. We got a bigger vision.

1865
01:27:01,160 --> 01:27:03,080
Speaker 7: So I want you to talk to those people like

1866
01:27:03,160 --> 01:27:05,840
Speaker 7: if this was your colleague who was advertizing with you,

1867
01:27:06,000 --> 01:27:07,720
Speaker 7: or the teachers who were working with me at the time,

1868
01:27:08,360 --> 01:27:09,599
Speaker 7: what's the advice that you want.

1869
01:27:09,439 --> 01:27:09,800
Speaker 6: To give them?

1870
01:27:10,120 --> 01:27:15,240
Speaker 2: Man, The key thing is I'm able to give advice

1871
01:27:15,320 --> 01:27:18,360
Speaker 2: for those who are willing to listen. I always say

1872
01:27:18,920 --> 01:27:21,960
Speaker 2: investing is a song that when you start singing it,

1873
01:27:22,560 --> 01:27:24,360
Speaker 2: even the people that I know don't know the words,

1874
01:27:24,400 --> 01:27:28,639
Speaker 2: will start humming along with you, so I can sing

1875
01:27:29,120 --> 01:27:32,920
Speaker 2: the praises of what it takes become an investor. Do

1876
01:27:33,120 --> 01:27:35,600
Speaker 2: this at the job, do this. But if you know

1877
01:27:35,800 --> 01:27:37,640
Speaker 2: you're listening to this right now and you have to

1878
01:27:37,680 --> 01:27:40,120
Speaker 2: go to work, key thing is, don't try to sing

1879
01:27:40,240 --> 01:27:42,960
Speaker 2: the same song as those people work. You have to

1880
01:27:43,120 --> 01:27:46,360
Speaker 2: get yourself in a room of like minded people. Join

1881
01:27:46,479 --> 01:27:49,400
Speaker 2: mentorships with people that are like you. Now, you may

1882
01:27:49,439 --> 01:27:51,559
Speaker 2: not know the words, but guess what you're gonna hum

1883
01:27:51,640 --> 01:27:54,120
Speaker 2: with those people a couple of weeks. You're gonna start

1884
01:27:54,200 --> 01:27:57,160
Speaker 2: learning the lyrics. You're gonna start learning the lingo. You're

1885
01:27:57,160 --> 01:27:59,439
Speaker 2: gonna start learning how to invest, You're gonna start learning

1886
01:28:00,200 --> 01:28:03,439
Speaker 2: changes you. But while you're going to work, you must

1887
01:28:03,520 --> 01:28:09,400
Speaker 2: always guard your escape route, guard that plan, guard what

1888
01:28:09,520 --> 01:28:12,479
Speaker 2: you're doing, because it's just some people that's not gonna

1889
01:28:12,520 --> 01:28:15,200
Speaker 2: get it. The job is not your enemy. You are

1890
01:28:15,280 --> 01:28:18,080
Speaker 2: your own enemy. When we sit down with our job,

1891
01:28:18,439 --> 01:28:20,560
Speaker 2: and we actually signed on to take that job, the

1892
01:28:20,680 --> 01:28:23,760
Speaker 2: job had a plan. The plan was to underpay you

1893
01:28:24,120 --> 01:28:28,400
Speaker 2: so you can overperform. But what we sat down we

1894
01:28:28,560 --> 01:28:31,840
Speaker 2: sat down and said, great, I'm on board and I'm

1895
01:28:31,840 --> 01:28:32,400
Speaker 2: gonna take that.

1896
01:28:32,479 --> 01:28:34,479
Speaker 3: Paycheck and only pay bills.

1897
01:28:35,120 --> 01:28:37,680
Speaker 2: That was the problem. We needed to say, Okay, I'm

1898
01:28:37,680 --> 01:28:40,640
Speaker 2: gonna take that paycheck pay bills, but i'm gonna take

1899
01:28:40,640 --> 01:28:44,200
Speaker 2: a portion and i'm gonna leave. If my job would

1900
01:28:44,240 --> 01:28:47,200
Speaker 2: have known the plan I had with that money that

1901
01:28:47,280 --> 01:28:49,519
Speaker 2: they were giving me, they would have said, don't give

1902
01:28:49,560 --> 01:28:54,840
Speaker 2: an overtime, cut his hour short, suspend him, do anything,

1903
01:28:54,960 --> 01:28:58,679
Speaker 2: but let him free. But it's the mind psyche, because

1904
01:28:58,720 --> 01:29:02,080
Speaker 2: think about this. Even when we're young, we wake up,

1905
01:29:02,800 --> 01:29:07,280
Speaker 2: we go to school, certain time, we go to lunch,

1906
01:29:07,920 --> 01:29:10,720
Speaker 2: we go back to the classroom, bell goes off, we

1907
01:29:10,840 --> 01:29:12,559
Speaker 2: go home, We wake up in the morning.

1908
01:29:13,000 --> 01:29:15,200
Speaker 3: I will always call school work for kids.

1909
01:29:15,720 --> 01:29:19,240
Speaker 2: It's prepping them. And then when it's over, now you graduate,

1910
01:29:19,800 --> 01:29:23,120
Speaker 2: find a job, wake up in the morning, go have lunch,

1911
01:29:23,880 --> 01:29:26,880
Speaker 2: the bell rings. See it's a mental prep so it's

1912
01:29:26,920 --> 01:29:29,719
Speaker 2: hard to break that. But when you start thinking about

1913
01:29:30,240 --> 01:29:33,240
Speaker 2: when you start thinking about your generation and the kids

1914
01:29:33,320 --> 01:29:35,920
Speaker 2: that you can't see and what you're leaving from them,

1915
01:29:36,280 --> 01:29:37,960
Speaker 2: you really move different than this world.

1916
01:29:38,760 --> 01:29:41,320
Speaker 3: I tell you, once I understood that.

1917
01:29:41,479 --> 01:29:46,200
Speaker 2: My life needs to expand beyond what I'm doing now

1918
01:29:46,800 --> 01:29:49,840
Speaker 2: and leave something for them. And I was moving like

1919
01:29:49,880 --> 01:29:52,720
Speaker 2: I ain't having no tomorrow. I was moving like I

1920
01:29:52,920 --> 01:29:55,360
Speaker 2: didn't have no tomorrow. It's all my fellas out there

1921
01:29:55,400 --> 01:29:58,200
Speaker 2: and all the ladies who get in this information. I

1922
01:29:58,320 --> 01:30:01,320
Speaker 2: want you to understand that you must give this information

1923
01:30:01,720 --> 01:30:04,439
Speaker 2: to your wife and your children and not hoard it

1924
01:30:04,479 --> 01:30:06,599
Speaker 2: for yourself and say I got it all worked out.

1925
01:30:06,760 --> 01:30:10,800
Speaker 2: My family straight. Because when you pass away and you

1926
01:30:10,880 --> 01:30:13,639
Speaker 2: don't leave them the keys to the safe, they locked out.

1927
01:30:14,360 --> 01:30:16,479
Speaker 2: They don't know about trust, they don't know about what

1928
01:30:16,880 --> 01:30:20,080
Speaker 2: life insurance policies. They don't know nothing. Because you said

1929
01:30:20,120 --> 01:30:23,439
Speaker 2: to yourself, I got them and they straight. You want

1930
01:30:23,479 --> 01:30:26,559
Speaker 2: them to be straight. Sit down with the lawyers, give

1931
01:30:26,600 --> 01:30:28,760
Speaker 2: them the information, give them all the coast.

1932
01:30:28,680 --> 01:30:30,840
Speaker 3: Tell them the plan you had and how to keep

1933
01:30:30,920 --> 01:30:31,360
Speaker 3: it going.

1934
01:30:32,400 --> 01:30:34,160
Speaker 2: That's my message, bro, I know I get carried away.

1935
01:30:34,200 --> 01:30:36,040
Speaker 6: So now it's the audacity of hope. Right.

1936
01:30:36,120 --> 01:30:38,560
Speaker 7: So somebody seeing you in this position, now they know

1937
01:30:38,640 --> 01:30:40,280
Speaker 7: what you've been through. I always tell like I used

1938
01:30:40,280 --> 01:30:42,080
Speaker 7: to sit down with my colleagues and I'm like, what's

1939
01:30:42,120 --> 01:30:44,479
Speaker 7: the plan? Everybody complains about being here? What's the plan

1940
01:30:44,560 --> 01:30:46,080
Speaker 7: to leave? What's the plan to leave?

1941
01:30:46,600 --> 01:30:46,760
Speaker 6: Right?

1942
01:30:46,960 --> 01:30:49,799
Speaker 7: And so the year I got tell you was the Arazon. Mmm,

1943
01:30:50,520 --> 01:30:52,840
Speaker 7: So like for most people, they're like, wait, we believe

1944
01:30:52,880 --> 01:30:54,719
Speaker 7: in you. They're putting their trust in you. They're saying

1945
01:30:54,760 --> 01:30:57,200
Speaker 7: that this is something that they're investing you long term.

1946
01:30:57,240 --> 01:30:59,560
Speaker 7: And I'm like, that really isn't a guarantee for me.

1947
01:30:59,760 --> 01:31:02,839
Speaker 7: I'm My mindset was never again it's big on mindset.

1948
01:31:02,880 --> 01:31:03,000
Speaker 6: It was.

1949
01:31:03,200 --> 01:31:04,960
Speaker 7: My mindset was never, I'm going to work here twenty

1950
01:31:05,000 --> 01:31:07,680
Speaker 7: five years and retire. My mindset was like, what's the

1951
01:31:07,760 --> 01:31:09,880
Speaker 7: fastest way for me to not be here anymore? How

1952
01:31:09,920 --> 01:31:12,760
Speaker 7: do I replace myself here? How do I duplicate? Because

1953
01:31:12,800 --> 01:31:14,719
Speaker 7: it was one thing watching my father work for forty

1954
01:31:14,760 --> 01:31:17,360
Speaker 7: two years and not being able to guarantee me an

1955
01:31:17,400 --> 01:31:20,200
Speaker 7: interview at his job. So I'd imagine myself working here

1956
01:31:20,280 --> 01:31:23,320
Speaker 7: twenty five years and not allowing my kids even have

1957
01:31:23,439 --> 01:31:26,960
Speaker 7: an interview or even be thought of in consideration to

1958
01:31:27,040 --> 01:31:28,719
Speaker 7: have a position there. And it was like, well, I'm

1959
01:31:28,760 --> 01:31:30,720
Speaker 7: working for this place. I'm spending more time here than

1960
01:31:30,760 --> 01:31:33,000
Speaker 7: with my children. What am I really leaving them?

1961
01:31:33,280 --> 01:31:33,679
Speaker 5: Exactly?

1962
01:31:33,800 --> 01:31:34,719
Speaker 6: And so it was the mindset.

1963
01:31:34,800 --> 01:31:36,360
Speaker 7: It was like, all right, here's the plan, and so

1964
01:31:36,600 --> 01:31:38,400
Speaker 7: exactly when it gave me tenure in my mind, I

1965
01:31:38,479 --> 01:31:39,760
Speaker 7: was like, I'm not going to be here much longer,

1966
01:31:40,200 --> 01:31:41,360
Speaker 7: you know what I mean. But it's the belief, and

1967
01:31:41,439 --> 01:31:43,080
Speaker 7: it's belief too, like you can feel it and the

1968
01:31:43,120 --> 01:31:44,960
Speaker 7: passion you speak with. This is a certain level of

1969
01:31:44,960 --> 01:31:47,200
Speaker 7: convention that you have and that everybody has to have

1970
01:31:47,360 --> 01:31:49,160
Speaker 7: if they want to make that plan. Like you said,

1971
01:31:49,240 --> 01:31:51,679
Speaker 7: it's not going to be for everybody, but seeing yourself,

1972
01:31:51,760 --> 01:31:54,599
Speaker 7: seeing myself, seeing Richard, and plenty of others just like, oh,

1973
01:31:54,840 --> 01:31:56,519
Speaker 7: it can be done. And so that's why we call

1974
01:31:56,560 --> 01:31:59,800
Speaker 7: this like the financial evolution, because it is we can't measure.

1975
01:32:00,560 --> 01:32:02,160
Speaker 7: We don't know what they're gonna do with the information,

1976
01:32:02,240 --> 01:32:04,200
Speaker 7: but hopefully they don't hoard it, they share it and

1977
01:32:04,240 --> 01:32:04,760
Speaker 7: they apply it.

1978
01:32:05,280 --> 01:32:06,559
Speaker 2: Yep. That man.

1979
01:32:06,800 --> 01:32:10,559
Speaker 5: There you have it, ladies and gentlemen, powerful episode. Thank

1980
01:32:10,640 --> 01:32:12,559
Speaker 5: you for that. I'm sure a lot of people will

1981
01:32:12,600 --> 01:32:14,800
Speaker 5: gain a lot of insight, like I said at the

1982
01:32:14,840 --> 01:32:17,960
Speaker 5: beginning of education, but also from a motivation standpoint as well,

1983
01:32:18,240 --> 01:32:21,640
Speaker 5: And they're both needed and then both are very very necessary.

1984
01:32:21,840 --> 01:32:22,640
Speaker 5: So appreciate that.

1985
01:32:22,720 --> 01:32:26,200
Speaker 2: Brother. I appreciate you guys having me and it's been

1986
01:32:27,240 --> 01:32:30,840
Speaker 2: for me. It felt like forever, and I always knew

1987
01:32:30,880 --> 01:32:33,320
Speaker 2: there was a platform in the stage for me to

1988
01:32:33,439 --> 01:32:37,040
Speaker 2: actually speak. And I'm glad that it's here and it's now,

1989
01:32:37,680 --> 01:32:40,160
Speaker 2: and the timing was right, you know what I mean.

1990
01:32:40,200 --> 01:32:42,559
Speaker 2: I felt like it was thirty years or something inside

1991
01:32:42,560 --> 01:32:44,679
Speaker 2: of me to be here to speak to the world

1992
01:32:44,800 --> 01:32:47,320
Speaker 2: on this level, and now it happened. I want to

1993
01:32:47,360 --> 01:32:49,000
Speaker 2: thank you guys from the bottom of my heart. Allowed

1994
01:32:49,040 --> 01:32:49,880
Speaker 2: me to speak to the people.

1995
01:32:50,040 --> 01:32:50,600
Speaker 6: I appreciate it.

1996
01:32:50,640 --> 01:32:52,559
Speaker 5: How can they follow you? With your social media handle?

1997
01:32:53,040 --> 01:32:56,360
Speaker 2: You can go to im storm Leroy on Instagram. You'll

1998
01:32:56,400 --> 01:33:00,240
Speaker 2: find me there, avoid them fake ones, employed million there.

1999
01:33:00,360 --> 01:33:02,560
Speaker 2: It'll pop up also and you'll find me.

2000
01:33:03,240 --> 01:33:04,240
Speaker 5: You have it, Chroy, how can you?

2001
01:33:04,479 --> 01:33:06,680
Speaker 7: Yeah, Shout to everybody on patreon dot com. Shout out

2002
01:33:06,680 --> 01:33:09,040
Speaker 7: to all of our earners in Eyo University, shout out

2003
01:33:09,040 --> 01:33:11,479
Speaker 7: to the merged team, and shout out to to Storm because,

2004
01:33:11,520 --> 01:33:13,599
Speaker 7: like I said, you're the first person who I said

2005
01:33:13,960 --> 01:33:16,320
Speaker 7: the seat is waiting for you, and now you're here,

2006
01:33:16,680 --> 01:33:18,400
Speaker 7: and so there's a bunch of people out there who

2007
01:33:18,560 --> 01:33:22,200
Speaker 7: we probably had the same conversation, but it's happened, and

2008
01:33:22,320 --> 01:33:23,599
Speaker 7: so like you're gonna be the first of manting.

2009
01:33:23,680 --> 01:33:25,720
Speaker 6: So I appreciate you for coming and sharing your wealth

2010
01:33:25,760 --> 01:33:26,120
Speaker 6: and knowledge.

2011
01:33:26,120 --> 01:33:26,800
Speaker 2: Man, Thank you sir.

2012
01:33:27,120 --> 01:33:29,519
Speaker 6: Yeah, nothing happens before it's time, So I'm happy today was.

2013
01:33:29,520 --> 01:33:32,160
Speaker 5: A day than you have it. Ladies and gentlemen. Thank

2014
01:33:32,200 --> 01:33:34,160
Speaker 5: you guys rocking on this. We'll see you next week. Peace,

2015
01:33:35,920 --> 01:33:38,160
Speaker 5: always seek knowledge.

2016
01:33:39,360 --> 01:33:41,280
Speaker 6: It's a rap for storm Leroy.

2017
01:33:43,080 --> 01:33:48,280
Speaker 4: My graduates from my school being forced back drop drop,

2018
01:33:48,960 --> 01:33:51,320
Speaker 4: Mike drop back drop drop.

2019
01:34:02,280 --> 01:34:06,120
Speaker 1: You just realized your business needed to hire someone yesterday.

2020
01:34:06,680 --> 01:34:09,000
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2021
01:34:09,600 --> 01:34:09,920
Speaker 2: Easy?

2022
01:34:10,439 --> 01:34:13,759
Speaker 1: Just use Indeed stop struggling to get your job posts

2023
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2024
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2025
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2026
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Speaker 1: According to Indeed data, sponsored jobs posted directly on Indeed

2027
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Speaker 1: have forty five percent more applications than non sponsored jobs.

2028
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2029
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2030
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2031
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2032
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2033
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2035
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