Speaker 1: An illegal alien from Guatemala charged with raping a child
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
Speaker 1: accused of murdering a Texas man of Venezuelan charged with
Speaker 1: filming and selling child pornography in Michigan. These are just
Speaker 1: some of the heinous migrant criminals caught because of President
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
Speaker 1: crossings are at the lowest levels ever recorded, and over
Speaker 1: one hundred thousand illegal aliens have been arrested. If you
Speaker 1: are here illegally, your next you will be fined nearly
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
Speaker 1: never return. But if you register using our CBP home
Speaker 1: app and leave now, you could be allowed to return legally.
Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
Speaker 1: border and families will be protected.
Speaker 2: Sponsored by the United States Department of Homeland Security.
Speaker 3: Readings and salutations.
Speaker 2: Too bad, what's going on? They ain't even trying to
Speaker 2: play us no more. They don't give us no ads
Speaker 2: to that.
Speaker 3: I appreciate that. Yes, this is gonna be glorious as always.
Speaker 3: Anytime we get to come on YouTube, it's always a
Speaker 3: special situation. You don't let the fan man shout out
Speaker 3: to e y L University earns.
Speaker 2: What's up? What's up? What's up?
Speaker 3: What's going on? You're about to get it going.
Speaker 2: I've unmuted myself.
Speaker 3: Yeah, let's get the young Legend Chris Senegal in the building.
Speaker 3: Let's get him up and running pace pace pace, There
Speaker 3: you go, pace.
Speaker 4: Yeah.
Speaker 3: I hope iverybody got a chance to check out to
Speaker 3: kill a mic epis. So that's all right now on
Speaker 3: all platforms. The young Legend himself, Chris, what's going on? Brother?
Speaker 2: Y'all?
Speaker 3: Oh, we're great, bron how you.
Speaker 5: I'm great, man, I'm great, blessed man. Can't complain, yo, man.
Speaker 2: We gotta make it back to age down, that's a fact.
Speaker 3: Yeah, we can't wait.
Speaker 5: It was. It was, it was too short.
Speaker 2: That was our first time. It was definitely a memorable one.
Speaker 5: The right and then COVID hit right before you all
Speaker 5: were coming back, right, Yeah, we was.
Speaker 3: We was talking to you, man, I was talking to you,
Speaker 3: trying to work out like venues and eights and all that.
Speaker 3: Then she was like they had the rodeo going on,
Speaker 3: and there was a bunch of stuff. We had to
Speaker 3: push it back because we had Philly and we actually
Speaker 3: could we couldn't get either one off. We had to
Speaker 3: cancel Philly like two days before, and Houston was supposed
Speaker 3: to be after Philly. So yeah, God willing whenever this
Speaker 3: thing clears up finally, Man, coming back to Houston, full
Speaker 3: full steam ahead.
Speaker 5: Gotta make it happen, Man, gotta make it happen.
Speaker 2: We had a good time out there.
Speaker 3: Chris shout out to Ahetown. Man, shout out at Ashtown
Speaker 3: for sure. Man. So yeah, man, we're gonna just, you know,
Speaker 3: let people settle in here. But once again, thank you
Speaker 3: for joining us. I feel like, you know, we just
Speaker 3: shot your episode. It's crazy how time flies.
Speaker 5: That was man. Yeah really but man, just watching the
Speaker 5: trajectory of ey L Man, it's been it's been phenomenal
Speaker 5: to watch.
Speaker 2: Man.
Speaker 5: I'm like the biggest fan.
Speaker 2: Yeah, man, we shot that, We shot your episode. We
Speaker 2: went to we did our Houston open house in a sense,
Speaker 2: really meet and greet. I was like, yo, man, we
Speaker 2: got a special one with you.
Speaker 5: I love that.
Speaker 2: Yeah.
Speaker 3: That was that was dope, man, that was dope. So Yeah,
Speaker 3: if anybody's not familiar Chris Senegal a legend in his
Speaker 3: own right episode thirty six and earlyer Lisia, you should
Speaker 3: definitely check that outf you get a chance. So at
Speaker 3: the time, this is actually dope because at the time
Speaker 3: he was like in the process of like he brought
Speaker 3: a whole block in Houston. So I won't go over
Speaker 3: the whole story because it's in the episode. So how
Speaker 3: is that. You know, he was a real estate developer,
Speaker 3: and then he brought a whole block in Houston, Texas
Speaker 3: in the fifth Ward, which at the time was run
Speaker 3: down like prostitution, drugs, stuff like that, and he changed
Speaker 3: the whole the whole face of the block and he
Speaker 3: put like townhouses up. But what makes him different is
Speaker 3: that he's not just you know, bringing people in, just
Speaker 3: you know, gentifying the neighborhood. So what happens a lot
Speaker 3: of times and being poor, working class neighborhoods is that
Speaker 3: you know, people do well for themselves, Right, they grow
Speaker 3: up in the neighborhood, but they might become a doctor,
Speaker 3: a lawyer, accountant, or whatever. Right, maybe they get a
Speaker 3: six figure job and then they move into the suburbs.
Speaker 3: So the problem with doing that is that now, as
Speaker 3: we put in the post today, the suburbs the dollars,
Speaker 3: it helps their school district, that helps their roads that
Speaker 3: you know, their infrastructure. And meanwhile the hood place you
Speaker 3: grew up in, I gets that. But what does come
Speaker 3: is that now people that are not from that neighborhood
Speaker 3: come into that neighborhood and then they start investing. And
Speaker 3: now what happens is that the people that the culture
Speaker 3: actually changes and the people gets pushed out. So he
Speaker 3: had the idea, like to say, okay, well, why don't
Speaker 3: we bring the people that are originally from this neighborhood.
Speaker 3: They got families in this neighborhood that grew up in
Speaker 3: this neighborhood or just grew up in similar type of neighborhoods,
Speaker 3: and bring them back. Right, so working class professionals instead
Speaker 3: of going to the suburbs, come back into the inner city,
Speaker 3: and let's change the culture of it, like let's get
Speaker 3: better schools, let's get you know, let's make it a
Speaker 3: safe environment, let's do all that, but let's do it responsibly.
Speaker 3: So he was like the first person that we really
Speaker 3: interviewed that had that strategy. And so from now and
Speaker 3: I'll let him tell it better than I can. But
Speaker 3: from that point until now he brought and sold. He
Speaker 3: built and sold five homes. He started working on eight.
Speaker 3: He started, he's starting working on eight next month. He
Speaker 3: purchased eighteen houses in two commercial buildings in March, and
Speaker 3: so he's actually like in the process of actually buying
Speaker 3: back the block in real time.
Speaker 2: So it's fitting because shout out, shout out to Houston.
Speaker 2: But like when I think of Houston, I think a
Speaker 2: scarface and his knee had to saw my block. Yeah,
Speaker 2: I'm looking like, yo, Chris really did it. And this
Speaker 2: whole happens when we went there. We stayed in the
Speaker 2: fifth ward, third ward door door World, third Ward, and
Speaker 2: I was like, yo, I remember one day we lost
Speaker 2: I thought we lost Shotty. I was like, yo, broo,
Speaker 2: anybody seem shoty And yeah, we couldn't find him. Be like, yo, damn,
Speaker 2: I think somebody followed us to the crib. Bro they
Speaker 2: got him. He's like walking like aimlessly down the block,
Speaker 2: like this is a nice neighborhood. He's like, you know,
Speaker 2: I just saw Chris Senegal. He's scouting.
Speaker 3: They thought I got kidnapped. We thought he got was
Speaker 3: running out the house, Like where is he? Where's he at?
Speaker 3: Like I'm like, yo, I just took a shoulder the neighborhood. Man.
Speaker 3: They literally thought I got kidnapped Houston, right. But but yeah,
Speaker 3: so Chris, So what we're going to do is I'm
Speaker 3: gonna let you go through your presentation all that, but
Speaker 3: before we even start anything that I missed out as
Speaker 3: far as the backstory or where you're at now, as
Speaker 3: far as the development things of that nature.
Speaker 5: Man, you hit all important points. I mean, you know,
Speaker 5: we got two different projects. One is, you know, the
Speaker 5: new construction bringing in the higher incomes back to the community,
Speaker 5: and the other one is that eighteen house portfolio bought
Speaker 5: is specifically to protect the existing residents. You know, we
Speaker 5: can try to get the city to control the rents
Speaker 5: or whatever, talk about, you know, stopping gentrification, but we
Speaker 5: can't stop it. The only way you really control the
Speaker 5: rents is to own the real estate that the rents
Speaker 5: come from. And so that's been my focus, man, just
Speaker 5: trying to show that we can do both sides. So yes,
Speaker 5: I'll get into a little presentation. We'll talk about that
Speaker 5: in a.
Speaker 3: Second, all right, So let's get into it. So before
Speaker 3: we start, we're going to welcome everybody. So what we
Speaker 3: do we do this, We do this once a month
Speaker 3: at the end of the month. So we have eyl University,
Speaker 3: and part of Eyo University is that we do weekly classes.
Speaker 3: Like we do a class every single week every Wednesday
Speaker 3: at eight o'clock Eastern Standard time, and then at the
Speaker 3: last Wednesday of each month, we open it up for
Speaker 3: the public so they can like you know, have like
Speaker 3: an open house. It's kind of like an open house
Speaker 3: type deal. So what we do with the Eyo University
Speaker 3: classes is that different from the podcast where it's it's interactive.
Speaker 3: So a teacher or a presenter comes on and they
Speaker 3: they give like a twenty minute PowerPoint presentation on it
Speaker 3: on a different topics, and then members from Eyo University
Speaker 3: then they engage with them, they ask questions and it's
Speaker 3: like an interactive it's a new way of learning. So
Speaker 3: what we did with Eyo University, we think is really
Speaker 3: create a personal finance school bigger than just investing, because
Speaker 3: it's like you could just watch market Mondays just for
Speaker 3: investment tips, but Eyo University is a whole personal finance school. So,
Speaker 3: like this month, the classes that we had was disability insurance.
Speaker 3: We had how to start a marijuana company with two
Speaker 3: thousand dollars, and we had car buying class. And then
Speaker 3: next next Wednesday, we have the class about Africa real estate.
Speaker 3: How do it invest in Ghana real estate? International real estate?
Speaker 3: So we got a lot of international people and we
Speaker 3: want to start doing more international stuff. But even if
Speaker 3: you live in America, Ghana is on fire right now.
Speaker 3: So each and every week we do we do a
Speaker 3: different class.
Speaker 2: November we got some heat coming. Yeah, we got some heat.
Speaker 3: And then in addition to that, we got the book
Speaker 3: and movie club yep, headed up by you.
Speaker 2: Yeah yeah. Right now we're doing a money Master of
Speaker 2: the Game and that's been going crazy every week. I mean,
Speaker 2: I think we hit a record last week. We had
Speaker 2: like almost four hundred people in our book club. It
Speaker 2: was absolutely amazing. And it's more than a book club.
Speaker 2: It becomes like this therapeutic session on finance and real estate,
Speaker 2: and then it becomes like, Yo, I found my partners.
Speaker 2: Inside of that, we have what we call triads, which
Speaker 2: is like three people that are finding the ways that
Speaker 2: they have in common and becoming accountability partners for each other.
Speaker 2: So it's like yo, that could be my business partner,
Speaker 2: or could just be somebody that's pushing me to find
Speaker 2: my goals or reach my goals. And what we've noticed
Speaker 2: is like, this is dope. It's like sometimes you tell
Speaker 2: the person close to you your goals and they don't
Speaker 2: believe in you. But when you tell a stranger of
Speaker 2: your goals, all they know is your goals. They don't
Speaker 2: know anything about out you but the goal, and they
Speaker 2: try to help you reach. And I think that's one
Speaker 2: of the beautiful things that we find inside of our
Speaker 2: accountability triad. So it's dope.
Speaker 3: Yeah, So we got that. Then we got the private
Speaker 3: Facebook group, which is an investment group, and that's a
Speaker 3: community within itself, over four thousand members in there. And
Speaker 3: then we have bi weekly real estate calls and Mortgage
Speaker 3: God every other Sunday, MG he gets on it. It's
Speaker 3: just like a two hour, three hours, sometimes even four
Speaker 3: hour just real estate call and they just talk about
Speaker 3: a variety of different real estate calls. And then once
Speaker 3: a month I do financial planning calls. Everybody knows I'm
Speaker 3: a financial advisor. And what happened is that I put
Speaker 3: my schedule up and it just became too much. It
Speaker 3: became overwhelming for me to actually take calls, so I
Speaker 3: limited that and I realized that a lot of people
Speaker 3: had the same question. So every single month, sit down
Speaker 3: for about two hours on a Saturday and we talk
Speaker 3: about financial planning and go over different stuff life, insurance, retirement,
Speaker 3: you know, just different financial planning topics. So all of that,
Speaker 3: and then we have orientation orientation.
Speaker 2: Yeah. Yeah, So every month now that we get new
Speaker 2: earners coming in and were treating us like the school,
Speaker 2: Eyo University, we have orientation. So some people get they
Speaker 2: come into and they're just like overwhelmed by the information because,
Speaker 2: like I said, we're not just cappin when we're telling you,
Speaker 2: like there's a lot of courses, a lot of content.
Speaker 2: So we have an orientation that can help you and
Speaker 2: guide you through that process, walk you through it, find
Speaker 2: a track for you, right cause some people may say,
Speaker 2: like real estate is not my thing, Well we got
Speaker 2: over seventy courses, what is your thing? And so you
Speaker 2: find the track and you follow it. And that's kind
Speaker 2: of what makes it dope about having accountability partners and
Speaker 2: triads is that you're going to find people who are
Speaker 2: on similar tracks. So everybody's pushing forward in the same direction,
Speaker 2: whatever direction you choose.
Speaker 3: Yeah, that's a fact. So yeah, so I say, I
Speaker 3: have to say, this is like open house. Once a month,
Speaker 3: we do this open house situation, and it's a lot.
Speaker 3: It's a lot. So the reason why, like the price
Speaker 3: keeps going on and it's still undervalue. It's three hundred
Speaker 3: and sixty dollars for the entire year, but we're adding
Speaker 3: to it. So it's an ongoing thing. So as we
Speaker 3: add to it, we have different overhead, we have staff, now,
Speaker 3: we have different you know. So this we have we're
Speaker 3: running a promo hold forty percent off the whole entire
Speaker 3: year annual membership and three hundred and sixty dollars, which is,
Speaker 3: like I said, that's like a night in Atlanta for
Speaker 3: twenty four hours, twenty four hours from from right now
Speaker 3: twenty four hours, and then after that you can still join.
Speaker 3: It's just you know, slightly higher membership. It's like a
Speaker 3: stock once you get in. Some people got it are
Speaker 3: ninety nine dollars and it's only going up from there
Speaker 3: because it's just added value. We're gonna make this bigger
Speaker 3: than Phoenix University. This is going to be the biggest
Speaker 3: all Loine University in existence. So I'm gonna put the
Speaker 3: link in and it's only for the link. Can we
Speaker 3: try to make this as easy as possible. There's no
Speaker 3: code or anything, it's just the link. The link. I'm
Speaker 3: gonna pin the link in YouTube. It's in the description
Speaker 3: if you want to join forty percent off twenty four hours.
Speaker 3: So Chris, let's get into.
Speaker 5: It, all right, let's go. Let's go. Let me see,
Speaker 5: let me share my screen.
Speaker 3: Does he have to do something to share it or no?
Speaker 2: He's a host now? Okay, yeah, let me I got
Speaker 2: it here.
Speaker 3: Yeah, Chris is a tech guy, so I know he knows.
Speaker 2: Engineer in his own right. Chris is let's see, yeah,
Speaker 2: we see you over here.
Speaker 5: Okay, let me make sure it's not let me see
Speaker 5: slash over from beginning.
Speaker 3: There we go.
Speaker 5: All right, So how to buy the block? I appreciate
Speaker 5: the opportunity guys, for y'all to have me on today.
Speaker 5: This topic is very near and dear to me because
Speaker 5: I've been an investor since two thousand and eight. I
Speaker 5: did the typical fix and flip model at the wholesale model,
Speaker 5: and what I realized was that, man, sometimes it's such
Speaker 5: a capitalistic business, and you're trained by other capitalists that
Speaker 5: don't have the same background as you, that they'll train
Speaker 5: you do some things that actually sometimes can't hurt the community,
Speaker 5: or they'll teach you how to make money in the
Speaker 5: community but not actually own the community long term. And
Speaker 5: so for me, I just had an AHA moment one
Speaker 5: day and I had epiphany. I was like, well, you know,
Speaker 5: we're always talking about these things that happened in our neighborhoods,
Speaker 5: and I know other people that look like me that
Speaker 5: are investors, but nobody's really talking about how to tackle
Speaker 5: this challenge, this gentrification issue. How do we start controlling
Speaker 5: these neighborhoods again. So that's been missioned since about twenty twelve.
Speaker 5: In twenty thirteen when I bought that first block that
Speaker 5: you talked about. So let's just start with the definition
Speaker 5: of gentrification, the process by which a part of a
Speaker 5: city changes from being a poorer area to a richer
Speaker 5: one and people from a higher social class are beginning
Speaker 5: to move in. Usually, if no one advocates for the
Speaker 5: poorer residents, they become displaced. So let's get this out
Speaker 5: the way. I saw the post that y'all made earlier
Speaker 5: and I saw the comments under the post, and it's like, man,
Speaker 5: we all know the problems. We all know about slavery,
Speaker 5: we all know about red lining, we all know about
Speaker 5: all the other injustices that we have. At some point
Speaker 5: we got to start focusing on the solutions to these problems.
Speaker 5: And it's okay to regurgitate them, and it's okay to
Speaker 5: be a debater, it's okay to be a historian, but
Speaker 5: what about the future. And this quote by Will Smith
Speaker 5: when he first got on Instagram always resonates with me.
Speaker 5: It's like, it may not be your fault that something
Speaker 5: happened to you, but it's damn sure your responsibility to
Speaker 5: fix it. And so that's exactly where I am. So
Speaker 5: my mission changing their gentrification through redevelopment that balances the
Speaker 5: opportunity to attract higher income people originally from similar communities
Speaker 5: out of the suburbs while ensuring existing residents are not
Speaker 5: displaced in the process. So let's talk about revitalization and
Speaker 5: plus gentrification always a debate, okay. So everything has a
Speaker 5: life cycle, including a neighborhood. It has a life cycle, guys,
Speaker 5: So everything has to start over at some point or
Speaker 5: either it's just gonna die. You know, we can't just
Speaker 5: let everything stay where it is, So we either revitalize
Speaker 5: and have community controlled narrative or we stand back and
Speaker 5: let somebody else do it from the sideline, right, and
Speaker 5: then that's controlled specifically by outside groups that want profit,
Speaker 5: and that's what we usually associate with the term gentrification with.
Speaker 5: So then you know, like I said, I was doing
Speaker 5: this back in twenty and thirteen, twenty fourteen, but this
Speaker 5: trendy phrase came up, you know, about two years ago,
Speaker 5: called buying the block, and I'm like, okay, wait a minute,
Speaker 5: I guess I guess that to fine what I'm doing.
Speaker 5: So we are trying to acquire and control the redevelopment
Speaker 5: of real estate in our historic neighborhoods. So let's talk
Speaker 5: again about the problems we all know about and the
Speaker 5: history that we don't think to mention. Sometimes all these
Speaker 5: neighborhoods are disadvantaged for the most part, but they once
Speaker 5: thrived with people from all economic classes. And what do
Speaker 5: I mean by that, Well, before desegregation, all of those vacant,
Speaker 5: run down commercial buildings you see in these poor neighborhoods
Speaker 5: used to be vibrant businesses. The doctors, the lawyers, the carpenters,
Speaker 5: the movie theaters, the restaurants. Everything that we did not
Speaker 5: have the right to patronize in another community was in
Speaker 5: these communities, and we patronized all of those things. So
Speaker 5: let's not think about it as always been a horrible
Speaker 5: place to be. At one point in time, it thrived.
Speaker 5: Here's another thing to look at. Businesses like grocery stores
Speaker 5: are scarce in our communities, but when these neighborhoods thrived
Speaker 5: during that same timeframe, the businesses were actually owned by
Speaker 5: the people in the community and they were sustainable. So
Speaker 5: if it happened before, it can happen again. So my
Speaker 5: goal has been how do we how do we go
Speaker 5: in these neighborhoods. How do we buy the block and
Speaker 5: do it without displacing existing residents. So it took me
Speaker 5: about two or three years to really come up with
Speaker 5: a model that would work. I bought the property in
Speaker 5: twenty thirteen, but I really didn't know what I was
Speaker 5: going to do with it. And you know, eventually I
Speaker 5: came in and I put these key pieces together so
Speaker 5: we can go into the communities that we can invest
Speaker 5: in the vacant property in the abandoned property and the
Speaker 5: neglected property, the drug houses, the houses that attract criminal activity, right,
Speaker 5: not going on knocking on doors asking the seniors to
Speaker 5: sell their house, not taking advantage of people that are,
Speaker 5: you know, in desperate financial situations. Let's focus on these
Speaker 5: properties in the first bullet number one. Number two. Try
Speaker 5: to keep rates affordable. If you're going to go in
Speaker 5: the community and buy rental properties, Okay, what that means
Speaker 5: is sometimes you're taught go in and renovate it and
Speaker 5: make it as nice as possible, which means your investment
Speaker 5: has to be larger on the front end. In exchange,
Speaker 5: you have to demand more for the rent right. But
Speaker 5: if you can buy a rental property that's in decent
Speaker 5: condition and the tenant is happy with the way it is,
Speaker 5: you don't have to invest so much on the front end.
Speaker 5: You can still structure a deal where you get a
Speaker 5: good return if you're a good negotiator, where you buy
Speaker 5: it at the right price so then the person can
Speaker 5: stay right there where they are. The third component is
Speaker 5: one of the hardest components. How do we prevent home
Speaker 5: ownership loss due to higher taxes. That's going to be
Speaker 5: more of a political play where we have to get
Speaker 5: with politicians that do this and other It's already implemented
Speaker 5: in some cities where if you've owned your home for
Speaker 5: longer than a certain amount of time, you're an exempt
Speaker 5: from property tax increases. And so that needs to be
Speaker 5: something that we need to focus on in these communities
Speaker 5: to make this buy the block model really work without
Speaker 5: being a detriment to the community. Okay, So when is
Speaker 5: the right time to buy in these neighborhoods. Okay, here's
Speaker 5: a couple of key points. I'm not talking about a
Speaker 5: war zone. I'm not talking about anywhere it still is
Speaker 5: super hood, you know. We are talking about areas in
Speaker 5: the communities where there's already some sign of something positive happening. Okay,
Speaker 5: and just remember, even if you see an abandoned community
Speaker 5: that looks like it has a lot of potential. Bullet
Speaker 5: number two is very important. It's harder for you to
Speaker 5: spark this revitalization and get a return on investment if
Speaker 5: you are the only catalyst. You have to go in
Speaker 5: the communities where there's already something kind of going on
Speaker 5: and we still have an opportunity to step in front
Speaker 5: of it, and instead of trying to stop you know,
Speaker 5: the redevelopment and calling it gentrification. Let's participate in it.
Speaker 5: Let's control the narrative. Let's control parts of everything that's
Speaker 5: going on in the community. Okay, So things you want
Speaker 5: to look for when you see announcements of projects in
Speaker 5: the newspaper, on the news, city council meetings, from other
Speaker 5: people that are in real estate, that you know, people
Speaker 5: that are networking with developers or builders, people you know
Speaker 5: in your community that are investors. You know when you
Speaker 5: hear these types of announcements, and that lets you know
Speaker 5: something is coming. You know, the second Burger King figures
Speaker 5: out where McDonald's put a land purchase contract in, they're
Speaker 5: going to try to buy land right next to them
Speaker 5: right same thing with Walgerys and Cvs. So as the
Speaker 5: smaller guys in this play, as we're trying to independently
Speaker 5: control and buy back these blocks, we need to be
Speaker 5: following the big boys. You know it's gonna happen. We
Speaker 5: can't fight them, we can't stop them, so we might
Speaker 5: as well participate. Another good thing to look at as
Speaker 5: a city activity, uhh, when a city activity picks up
Speaker 5: in a neighborhood on the private real estate side, Okay,
Speaker 5: when a particular neighborhood where you didn't see a new
Speaker 5: construction before and now you start seeing for sale signs
Speaker 5: and you see active construction work going on, that's probably
Speaker 5: a good community, especially if it's one of our communities.
Speaker 5: That's a good time for you to start saying, Okay,
Speaker 5: this might be a neighborhood that I might want to
Speaker 5: look at trying to buy a block with okay, and
Speaker 5: then the city initiatives to spark redevelopment. That's on the
Speaker 5: public side. So when you see the city going into
Speaker 5: community and they're repaving streets and they're putting in sidewalks,
Speaker 5: and they're updating signs, and they're putting in bike paths,
Speaker 5: they're doing all of that because that's kind of the
Speaker 5: extent that the public the government can do to entice developers.
Speaker 5: They want developers to see this and investors to see
Speaker 5: this and say, Okay, this is a neighborhood I want
Speaker 5: to be in. So if you look for these signs
Speaker 5: before all the houses have gone up and before everything
Speaker 5: looks nice, these are neighborhoods that we should be trying
Speaker 5: to buy the block in, especially if there are communities.
Speaker 5: So how do we successfully execute buying back the block. Okay,
Speaker 5: So number one, when it comes to buying blocks, if
Speaker 5: you're going to do something bigger than individual houses, you
Speaker 5: don't want to get a big plan together. You don't
Speaker 5: want to spin your wheels on things if you do
Speaker 5: not have site control. Site control is the single most
Speaker 5: important part of that process, because what happens is you
Speaker 5: put this tremendous plan together and either the seller decides
Speaker 5: they don't want to sell, or you don't have all
Speaker 5: of the properties together that you need for the project,
Speaker 5: or they get wind of something else and they increase
Speaker 5: their price on you, and so all of these factors
Speaker 5: will end up with you doing all this work, all
Speaker 5: this planning, and then you have no property to actually
Speaker 5: use it for. So all that time and money is wasted. Right,
Speaker 5: So there's several ways you get site control. Number one,
Speaker 5: just make sure you have the property under a solid
Speaker 5: contract at a set purchase price with a certain timeframe
Speaker 5: on it. Okay, that way, if it's one piece of
Speaker 5: property that you need for this entire project, then you
Speaker 5: know you have control of that. Number two is kind of,
Speaker 5: you know, obvious outright purchase, but that's not practical in
Speaker 5: most situations, just going out and buying a whole block
Speaker 5: and paying for cash is not really practical. And then
Speaker 5: the third one is an option to purchase. So if
Speaker 5: you have a project that you want to that you
Speaker 5: want to take on, and let's say it's five or
Speaker 5: six different owners, seven different owners, and you don't know
Speaker 5: if all of them are gonna want to sell, You
Speaker 5: don't know if their price points are going to be
Speaker 5: reasonable if they do want to sell, what you want
Speaker 5: to do is execute options to purchase. And what that
Speaker 5: is is you go from owner to owner and you say, hey,
Speaker 5: mister owner, let's negotiate. Let's come to a price that
Speaker 5: we both agree on. I'm not buying your property today,
Speaker 5: but if you give me a year, you give me
Speaker 5: two years, and I can pull this thing together that
Speaker 5: I'm trying to do. You have to allow me to
Speaker 5: buy your property at this price. Okay. In exchange for that,
Speaker 5: I'm gonna give you this money. Could be one thousand dollars,
Speaker 5: could be five hundred dollars, whatever. Hey, if you never
Speaker 5: hear from them again, this is your thousand dollars, you know.
Speaker 5: But if I come back to you in a year
Speaker 5: and I'm ready to buy then we have to follow
Speaker 5: through on this contract, and so that allows you to
Speaker 5: control each individual partial until you get them all together
Speaker 5: for the project that you're trying to do. Okay, next
Speaker 5: most important step is planning and design, because you have
Speaker 5: to really understand what's going to take to pull this
Speaker 5: concept off that you're trying to implement. Now, if you're buying,
Speaker 5: if you're trying to buy more than one property in
Speaker 5: their rental properties, like I said earlier, and there's already
Speaker 5: tenants there, then you know this process is going to
Speaker 5: be a lot easier for you because you don't have
Speaker 5: a lot of work to do on the front end, right,
Speaker 5: You don't have a lot of expenses that in the
Speaker 5: real estate development world is called soft costs. These are
Speaker 5: things that are intangible, Like once you spend the money,
Speaker 5: the money's gone. Once you pay an architect for design work,
Speaker 5: whether the project gets started or not, that's gone, right,
Speaker 5: The permitting fees, paying for engineers, all that kind of stuff. Construction,
Speaker 5: of course, construction is going to be one of your
Speaker 5: biggest expenses because you want to make sure that while
Speaker 5: you have site control, you really understand what the cost
Speaker 5: of this entire project is going to be and then
Speaker 5: you want to make sure that planning and zoning and
Speaker 5: city ordinance or whatever in your area, and just the
Speaker 5: general city permit approvals are in place for you to
Speaker 5: be able to execute your project. And most importantly all
Speaker 5: of this is really that all of that comprises feasibility
Speaker 5: of rather buying this block and doing whatever you plan
Speaker 5: to do with it really makes sense. Okay. Now, so
Speaker 5: after you get site control and you've got a good
Speaker 5: plan together, then you have to figure out how you're
Speaker 5: actually going to take down the project and how you're
Speaker 5: going to start the project. So my number one go
Speaker 5: to is what's been working for me in Houston is
Speaker 5: seller financing. If I would have waited in twenty thirteen
Speaker 5: for a bank to tell me that I was bankable
Speaker 5: to buy a whole block, and I was waiting for
Speaker 5: a bank to tell me that a block in the
Speaker 5: hood was worth a certain amount of money when there
Speaker 5: was no recent sales and it was full of crime
Speaker 5: and drug infestation, you know, I would have never got
Speaker 5: that project off the ground. So but what happens when
Speaker 5: you go to somebody that owns the property outright, Okay,
Speaker 5: that means it's probably been in their family longer than
Speaker 5: thirty years, or maybe passed down from generation to generation,
Speaker 5: and they have the right, the free and clear right
Speaker 5: to do whatever they want the property. You can negotiate
Speaker 5: with them. And so for one of my properties, I'm
Speaker 5: gonna show you in a case study. One of them,
Speaker 5: I negotiate ten percent down to buy a whole block.
Speaker 5: The second one I had to come to the table
Speaker 5: with fifty percent of the agreed upon purchase price. But
Speaker 5: then you make payments to them instead of making payments
Speaker 5: to a bank, and they're not gonna check your credit score,
Speaker 5: they're not going to do a background check, they're not
Speaker 5: going to ask you about other things. Because when sellers
Speaker 5: finance something directly to you, they know that if you default,
Speaker 5: they can just take the property back and they can
Speaker 5: start the process over do the same thing again. Right,
Speaker 5: So that's a trick. Well that's not really a trick,
Speaker 5: but that's a technique that we need to implement more
Speaker 5: often when we're trying to get in our communities and
Speaker 5: do these things. So something else. If they don't agree
Speaker 5: to that, or if they do agree to that, but
Speaker 5: you don't have enough money for the down payment, start
Speaker 5: off with a small group of investors. Maybe I would
Speaker 5: always suggest you have somebody on your team that's experienced
Speaker 5: with investing, and you know, have them come on the
Speaker 5: team and help you through the process. How I highly
Speaker 5: suggest you don't do it if you're all newbies and
Speaker 5: you have nobody on a team, because what may seem
Speaker 5: like a good deal may not be a good deal.
Speaker 5: And then third is crowdfunding. Crowdfunding is what I did
Speaker 5: for one of my projects, but I didn't do a
Speaker 5: crowdfund until I'd been in real estate investing for almost
Speaker 5: thirteen years. Okay, so a lot of people ask about it.
Speaker 5: But when you take other people's money, you know, and
Speaker 5: you and you were trying to complete a project, all
Speaker 5: those bullet points before that got to be spot on
Speaker 5: because people are not giving you donations, they are giving
Speaker 5: you money, and they are expecting their money back and
Speaker 5: they're respecting a profit on top of that. So you know,
Speaker 5: you got to be really careful when you get in
Speaker 5: that round. And most importantly of all these things is
Speaker 5: the right team. You can have the right plan, you
Speaker 5: can have all every every box checked, but if you
Speaker 5: don't have the right team to execute on buying back
Speaker 5: the block, it would be very hard for you to
Speaker 5: be successful. Now, the most important key is that we
Speaker 5: all have to participate. And this is what I mean
Speaker 5: by that the investors need to be participating this. Okay,
Speaker 5: we need to be actively looking to buy in our communities. Okay,
Speaker 5: if you're a landlord, maybe you don't want to actually
Speaker 5: live in the community, but you have rental properties, you
Speaker 5: should be trying to control rental properties in these same neighborhoods.
Speaker 5: And you can maybe maybe one investor has bought the
Speaker 5: block and renovated the block, and now they're selling the
Speaker 5: homes to other people. Well, you as an investor should
Speaker 5: come in and buy some of the properties from that
Speaker 5: developer so that the ownership transfers from us to us. Right.
Speaker 5: And then you, as someone who looks like the community,
Speaker 5: should be looking out for people in the community and
Speaker 5: have a vested interest in not being a slumlord and
Speaker 5: taking care of the community. Of course, realtors play an
Speaker 5: integral part of this. Why because when you have buyers,
Speaker 5: when you have investors, when you have renters, you should
Speaker 5: be telling them about all of the investors, landlords, developers, builders,
Speaker 5: you know in the community and trying to steer them
Speaker 5: to these neighborhoods. First, once again, I'm not talking about
Speaker 5: war zones, okay, I'm talking about areas that there's already
Speaker 5: some sign of revitalization. And lastly, and most importantly, the
Speaker 5: regular buyers, like for my development that I'm show you
Speaker 5: in a second, all my buyers look like us, young
Speaker 5: working professionals. It's not as bad. It's not the hood
Speaker 5: that sometimes people say it is. You have to be
Speaker 5: very aware of what outside narratives are versus what's really there. So,
Speaker 5: as a buyer, if you're in a community and some
Speaker 5: of those other signs have already talked about are happening,
Speaker 5: if you see redevelopments starting, if you see a lot
Speaker 5: of activity in the community, if you see the city
Speaker 5: putting things in, guess what city's already got that neighborhood
Speaker 5: on their radar, even though it may not be perfect yet,
Speaker 5: it's coming. And usually what happens is we go to
Speaker 5: the community one day and it's the hood, and we
Speaker 5: go back a year later and it's a million dollar
Speaker 5: homes and we're like, what happened and we're mad it's gentrification.
Speaker 5: It's like, no, what really happened was from the time
Speaker 5: you left other people saw value in that community and
Speaker 5: they start buying. And not everybody's buying rental properties. People
Speaker 5: are really moving in that community. They're walking their dogs,
Speaker 5: they're riding their bikes, and their values are steadily going up,
Speaker 5: steadily going up. And then by the time we get
Speaker 5: wind of what's going on in the community, the prices
Speaker 5: so higo, we can't afford it, right, So that's usually
Speaker 5: what happens. So shut I know I'm talking a lot man.
Speaker 2: That I'm actually taking notes.
Speaker 3: Yeah, I hope everybody on YouTube please hit the like button,
Speaker 3: and I hope people greatly appreciate this because it's like
Speaker 3: nobody's doing this, like nobody, And that's the reason why
Speaker 3: we created Eyo University. Like I said, it's a it's
Speaker 3: a business school, but do you know you don't learn
Speaker 3: this stuff in business schools. And this is just the beginning,
Speaker 3: Like you still got more to talk about. But it's
Speaker 3: like people talk about by the buy back the block,
Speaker 3: what does that mean? What does that mean?
Speaker 6: Right?
Speaker 3: So this was like, all right, this is this is
Speaker 3: a step by step blueprint from somebody that has is
Speaker 3: actually doing it and has actually done it. So now
Speaker 3: I keep going Chris.
Speaker 2: Real quick so some of those signs, are there any
Speaker 2: other type of retail or commercial real estate that we
Speaker 2: should be looking for for a sign? And I know
Speaker 2: somebody in the chat said, yo, when you see a Starbucks.
Speaker 5: Or usually So that's not that we have a misconception about, right.
Speaker 5: So usually, like we get mad when grocery stores and
Speaker 5: those types of businesses leave the community, But those businesses
Speaker 5: have whole departments that before they buy, before they figure
Speaker 5: out where their location, their site selection team pulls the
Speaker 5: demographics and they say, what's the average income in this community?
Speaker 5: Do these people earn enough and do they have enough
Speaker 5: disposable income to support our business? Right, So, you're not
Speaker 5: going to see commercial signs going in until almost till
Speaker 5: it's too late, because all the incomes in that area
Speaker 5: are already going to be so high and they're going
Speaker 5: to be buying houses at such high prices, and you know,
Speaker 5: the prices continue to go up that it becomes priced
Speaker 5: out for us. So what the way development usually works
Speaker 5: is the rooftops come first, the house this come first.
Speaker 5: The new residents with the higher incomes come in first.
Speaker 5: And the only way you get ahead of that wave
Speaker 5: is by looking at those signs that I told you earlier.
Speaker 5: But yeah, it's almost almost like you can.
Speaker 3: See a Starbucks.
Speaker 5: It's almost too late.
Speaker 2: Yeah, they made me thinking, like whole foods don't end
Speaker 2: up in every neighborhood, you know what I mean.
Speaker 5: Right, they don't, and people don't speaking the whole foods,
Speaker 5: people don't realize, like a grocery store has the lowest
Speaker 5: profit margins of almost any business. It's usually three to
Speaker 5: five percent. So they're not going to go in the neighborhood.
Speaker 5: Even if the city gives them all the money to
Speaker 5: build the facility, they still have to They have to
Speaker 5: float every month. They got to be operating positive, right,
Speaker 5: So I mean the grocery store is the highest profitability
Speaker 5: is on the fresh produce, on the meats, and the
Speaker 5: stuff on the shelves. It's not really very profitable. So
Speaker 5: if you're in a community where people are buying everything
Speaker 5: off the shelf, in the cans and in the boxes,
Speaker 5: and you got this huge overhead from all these employees,
Speaker 5: and you got this huge overhead from.
Speaker 7: This huge lease you got, and you got this high
Speaker 7: utility bill, you know, it's highly unlikely that you're going
Speaker 7: to be profitable if you try to go into one
Speaker 7: of those neighborhoods for the sake of you know, social service, right,
Speaker 7: I mean they have to run a business at the end.
Speaker 2: Of the day.
Speaker 3: Yeah, And YouTube, if you could like this, two things
Speaker 3: I need from YouTube everybody, Like, we got nine hundred
Speaker 3: and ninety seven people. There's no reason why we shouldn't
Speaker 3: have nine hundred and ninety seven likes. If you didn't
Speaker 3: like it, just politely comment why you why you thought
Speaker 3: the information wasn't valuable enough to like, it doesn't even
Speaker 3: cost anything, doesn't even won't even burn a calorie. And
Speaker 3: then also share it with somebody, just going like this
Speaker 3: is life changing, generational changing information that you know, giving
Speaker 3: out right now, like, you know, share it with people,
Speaker 3: and shout out to mt the mortgage guy, and shout
Speaker 3: out to Brandon Rules legend himself, and shout out to
Speaker 3: Andre Hatchett, the first teacher that we ever had for
Speaker 3: Eyo University. That's my guy man, for sure.
Speaker 5: And what's the legends in Yeah.
Speaker 3: For sure for sure. So all right, Chris, And then
Speaker 3: somebody said on YouTube there was like a fifth warter,
Speaker 3: isn't the hood hood? Yeah, that's kind of the whole
Speaker 3: point of what he said. Like you don't want to
Speaker 3: go into the market slightly dangerous. You don't want to
Speaker 3: you don't want to invest in a four war zone
Speaker 3: like slightly dangerous.
Speaker 5: Yeah, yeah, I mean it's something where the you know,
Speaker 5: the criminal criminal activity is going down significantly and there's
Speaker 5: more police patrols coming and all that kind of stuff.
Speaker 5: You know, you have to be there. So that's the
Speaker 5: only way you really participated. And I understand the people
Speaker 5: that have, like young kids are feel uncomfortable in those situations. Yeah,
Speaker 5: I'm not saying I'm not forcing you too. I'm just
Speaker 5: saying with my projects, I have buyers that specifically chose
Speaker 5: to come from the communities and they have had zero issues,
Speaker 5: Like they have had not a single issue. So you know,
Speaker 5: it's all about perspective. And we talk about schools and
Speaker 5: education a lot. Thankfully in a big city like Houston,
Speaker 5: there's a lot of charter schools, a lot of private schools,
Speaker 5: so you have alternatives to the public school system until
Speaker 5: that public school system catches up in that neighborhood. But
Speaker 5: in the same time, you think about this, if you
Speaker 5: buy Okay, I'll give you an example. There was a
Speaker 5: lady that went to the third ward like the hood
Speaker 5: part of the Third Ward worse than where y'all stayed,
Speaker 5: but the first house had been renovated. Middle aged white
Speaker 5: lady was like one of the last people walking out
Speaker 5: of an open house. And my boy was there, and
Speaker 5: he said that ninety percent of people that walked through
Speaker 5: this open house in the hood part of the third
Speaker 5: were white. So he said that curiosity got the best
Speaker 5: of him, and he stopped her and asked her. He's like,
Speaker 5: why are you here and what attracts you to this area?
Speaker 5: And she's like, oh, I bought my house in the Heights,
Speaker 5: in which is another neighborhood that's been gentrified for about
Speaker 5: fifteen sixteen years. She's like, I bought my house in
Speaker 5: the Heights about fifteen years ago, and the neighborhood looked
Speaker 5: just like this, and my property value is going up
Speaker 5: three hundred thousand dollars, so I'm about to sell that
Speaker 5: house and come over here and do the same thing.
Speaker 5: And I'm like, well, man, imagine the more of us
Speaker 5: thought about that. Imagine what the average household income or
Speaker 5: the average average household networks would be for our community,
Speaker 5: and imagine how many of our children we could pay
Speaker 5: to go to college out the equity in our homes.
Speaker 3: We thought like that, that's a lot of information. That's
Speaker 3: a that's a gym right there, man, that's a gym
Speaker 3: right there.
Speaker 2: We got to get to Houston.
Speaker 3: Man, I can't wait to come back to here.
Speaker 2: Mister Dunlop, all right, I'm.
Speaker 5: Gonna run through the case studies real quick. So let's
Speaker 5: talk about fifth Ward. People talking about not the hoods,
Speaker 5: So let's go through it. So settling the middle eighteen hundreds,
Speaker 5: believe it or not, Middle eighteen hundreds to nineteen hundred,
Speaker 5: it was actually half It was mixed, uh white and black.
Speaker 5: It was annexed to the city eighteen sixty six. By
Speaker 5: nineteen hundred, it's a predominantly black neighborhood with thriving businesses.
Speaker 5: And don't believe it, let me show you. This is
Speaker 5: Lions Avenue. This is the same street that one of
Speaker 5: my projects was on. This this is from the fifties.
Speaker 5: On Lions Avenue. You see all types of businesses all
Speaker 5: up and down the street, and you see who's walking
Speaker 5: up and down the street. This was a segregated neighborhood
Speaker 5: at that point in time. Okay, this is the other
Speaker 5: way down the same street. I mean, I see tailors,
Speaker 5: I see movie theaters, I see pawn shops, you know,
Speaker 5: I see restaurants. Everything's in the community, right. But then
Speaker 5: in the nineteen sixties, when desegregation happened, two major freeways
Speaker 5: came through the community. Of course, all these negative packs
Speaker 5: caused a lot of disinvestment, and then some of the
Speaker 5: redlining impacts also hurt the community, and by the nineteen
Speaker 5: seventies there was a mass exodus of the majority of
Speaker 5: successful people. The business owners had a lot of them
Speaker 5: had closed up shops because the patronage had gone down,
Speaker 5: the customers had moved out, and so the communities no
Speaker 5: longer thrived. But what that did is that that opened
Speaker 5: up opportunity for other people to come into the community. However,
Speaker 5: these are some of the other highlights, like the picture
Speaker 5: at the bottom on the writers the first black hospital
Speaker 5: built in Fifth Ward, actually in Houston, that had we had,
Speaker 5: you know, recording studios. I mean, you know, these neighborhoods
Speaker 5: were thriving. So that that's the part that I want
Speaker 5: people to remember when we think about these neighborhoods. They
Speaker 5: used to be great. That if we had a black
Speaker 5: Wall Street in every city because we had to create
Speaker 5: our own. We couldn't we couldn't patronize other other neighborhoods.
Speaker 5: So this is the freeway that kind of came through.
Speaker 5: This is the same street in the same vicinity, like
Speaker 5: one block off. But you see now the only thing
Speaker 5: that's left. Thankfully, the churches are still there, but the
Speaker 5: neighborhood is a lot less activity going on, a lot.
Speaker 5: A lot of the buildings are going now. So this
Speaker 5: is the property that I bought, which is in fifth Ward.
Speaker 5: That's the same freeway that you see in the back
Speaker 5: on the left side, Highway fifty nine. So in twenty fourteen,
Speaker 5: I did what I was telling everybody to early. I
Speaker 5: was watching the city trend. I was watching the redevelopment
Speaker 5: and it was going counterclockwise around downtown. And this was
Speaker 5: the last neighborhood that had not been touched by redevelopment
Speaker 5: or gentrification. So I was able to negotiate with this
Speaker 5: owner to buy this entire block for half a million
Speaker 5: dollars and negotiate ten percent down. Okay, so I actually
Speaker 5: sold a couple of rental properties. I had an investor
Speaker 5: put in a little bit, and I took control of
Speaker 5: this property. Everybody thought I was crazy. This was still
Speaker 5: the bloody nickel at that point in time, But I knew.
Speaker 5: I knew just by watching the redevelopment trending, eventually it
Speaker 5: was going to come because this was like literally the
Speaker 5: last quadrant around downtown that had not been redeveloped. Okay,
Speaker 5: so I actually paid over market value. Here's why there
Speaker 5: were no sales. There was no comps. So if you
Speaker 5: look at the tax records, that's the all thing you
Speaker 5: can go off of. It had the whole property worth
Speaker 5: about three hundred and fifty thousand. But what I knew
Speaker 5: taking a calculated risk by watching the redevelopment. It's like, well,
Speaker 5: if I'm not paying cash for it, and I'm only
Speaker 5: giving him fifty thousand right now, and I'm financing it
Speaker 5: for twenty thirty years, it's highly likely that by the
Speaker 5: time I get even close to paying this off, the
Speaker 5: value will have caught up and exceeded it. So what
Speaker 5: that does is it almost put you in a position
Speaker 5: where you're like kind of partnering with the owners. You know,
Speaker 5: you're telling them you're gonna give him a little bit
Speaker 5: more over time than what the property is currently worth.
Speaker 5: But you have everything calculated, and you know that by
Speaker 5: the time you make whatever move you're gonna make, the
Speaker 5: value will have caught up and you will have equity
Speaker 5: on the back end. So okay, So I talked about
Speaker 5: this already, So twenty fourteen's when I bought it. Twenty
Speaker 5: sixteen the bet paid off sixt This is the south
Speaker 5: end of Fifth Ward. One of the biggest developers in
Speaker 5: Houston bought one hundred and thirty six acres that used
Speaker 5: to be KBR used to be the National Defense contractor,
Speaker 5: right next to downtown, right on the water and what
Speaker 5: we considered the hood. But of course they always find
Speaker 5: value when you know, when we don't find value, and
Speaker 5: they put this big plan together, do this massive project,
Speaker 5: and so that was the first catalyst in the community.
Speaker 5: So this again is this is the project site that
Speaker 5: they got. You see where downtown is and the stars
Speaker 5: where both of my projects are. So one of my
Speaker 5: projects is right here, the new construction townhome project where
Speaker 5: the grocery store is is right there. Now that's one
Speaker 5: mile radius. This one is like a little bit more
Speaker 5: than three quarters of a mile radius.
Speaker 2: What other project is?
Speaker 5: Okay, this is what's going to be built on that site.
Speaker 5: This is not speculation, this is what's going to be there. Okay,
Speaker 5: they've already they've already cleared all of the old buildings,
Speaker 5: they've already done all the underground different structure, they've run
Speaker 5: all the utilities. They did slow down a little bit
Speaker 5: because of COVID and some of the lumber prices and
Speaker 5: stuff going up, but the CEO said they're still moving
Speaker 5: forward with the project. So after that happened in twenty sixteen,
Speaker 5: here's another creative technique you can use. I talked the
Speaker 5: owner into converting from a owner finance note, which is
Speaker 5: like a mortgage note, to partnering with me. So what
Speaker 5: I said was, look, I still owe you like three
Speaker 5: hundred thousand. You can wait next twenty years to get it,
Speaker 5: or you can partner with me on this project and
Speaker 5: let me figure out how I can do some new construction,
Speaker 5: and then I can pay you out as I sell
Speaker 5: these houses on the back end, and you can be
Speaker 5: paid off in three or four years instead of waiting
Speaker 5: thirty years. Okay, So he agreed. So what did that do?
Speaker 5: That took the mortgage off of the property. So now
Speaker 5: I am the primary the primary partner. He's a limited partner,
Speaker 5: and I have this property. I can now go to
Speaker 5: the bank and say it's free and clear. I don't
Speaker 5: have any debt on it.
Speaker 2: Right.
Speaker 5: I used the property as collateral as I started shopping
Speaker 5: to get the loans to do the redevelopment. But the downside,
Speaker 5: of course, what I talked about earlier, I had to
Speaker 5: go through twenty three different lenders before I got approved.
Speaker 5: No matter how great my plan was, there was no
Speaker 5: established marketability in this neighborhood because there was no new construction.
Speaker 5: Even though the redevelopment was that close, it was really
Speaker 5: hard for me to find a lender that would that
Speaker 5: would partner with me on the project. So you know,
Speaker 5: I had a private investor come in and put in
Speaker 5: an IRA money two hundred and fifty thousand. She she's
Speaker 5: a young black check that worked for oil and gas company,
Speaker 5: worked for Shell for a while. She had a nice
Speaker 5: IRA that she was that she wasn't using. It was
Speaker 5: sitting in the stock market, and you know, I showed
Speaker 5: her division she believed in it, and she's like, okay, cool.
Speaker 5: I didn't take her money and spend it. I took
Speaker 5: it and put it in a bank account to show interest.
Speaker 5: Reserves to hope hopefully would try to sweeten the deal
Speaker 5: with the lender, Chris, not to cut you off, But yeah,
Speaker 5: we did.
Speaker 3: We did a class on self directed iras too University,
Speaker 3: and I'm not sure if that's the path you went,
Speaker 3: but a lot of people don't even realize that you
Speaker 3: could actually use your retirement accounts like an IRA to
Speaker 3: invest in real estate without paying taxes. So I just
Speaker 3: wanted to throw that in this and.
Speaker 5: That's exactly right. When you have a self directed IRA,
Speaker 5: you can invest in any asset that you choose, and
Speaker 5: it's literally self directed. You just have a company that's
Speaker 5: basically a custodian for you to help you check boxes.
Speaker 5: But yeah, you can. You can invest it however you want.
Speaker 5: So that's something that you can leverage in real estate. So,
Speaker 5: like I said, there's challenges with no new construction. Also,
Speaker 5: when I got ready to start the project, what I
Speaker 5: realized is, like a lot of these older neighborhoods, there's
Speaker 5: a lack of utility infrastructure. So this old grocery store
Speaker 5: didn't have much plumbing, you know, it wasn't drawing much electricity.
Speaker 5: And when I got ready to do my new project,
Speaker 5: I realized that the city was going to require me
Speaker 5: to update a lot of this infrastructure. So that's something
Speaker 5: that you got to think about if you're planning on
Speaker 5: doing projects on this scale. Something that you usually don't
Speaker 5: think about when you just flip in a house or
Speaker 5: building one or two houses on a lot, because usually
Speaker 5: that what you're building will not impact the infrastructure greatly.
Speaker 5: But when you're trying to do a bigger project, you
Speaker 5: do have to consider those things. So this talks about
Speaker 5: more twenty seventeen, now redevelopment. Remember that first neighborhood, I
Speaker 5: told you all about the Heights. Now see twenty seventeen.
Speaker 5: Three years later it's in the newspaper they calling Fifth
Speaker 5: or the New Heights.
Speaker 3: That's how it happens. Once they start renaming neighborhoods once
Speaker 3: I've seen Sobro. Yeah, so Bro, you know what Sobro is. No,
Speaker 3: it was that South Bronx South bron Yeah, that was
Speaker 3: one of the most dangerous neighborhoods, one of the most
Speaker 3: poorest neighborhoods in America, one of the most dangerous neighborhoods
Speaker 3: in America. It's still not the greatest, but when they
Speaker 3: started naming it Sobro and they put like a whole
Speaker 3: foods and.
Speaker 5: All of that, and it's like, all right, yep, and
Speaker 5: we don't say that because the official name for that
Speaker 5: for that south in the fifth one now they called
Speaker 5: it North Eto, which is east of downtown.
Speaker 3: Yeah. That's another that's another thing too, once you start
Speaker 3: to see names, because it's like even know how I
Speaker 3: think it was no North Manhattan no no.
Speaker 2: No no, that was Houston.
Speaker 3: No no, no, they had it. They try to rename
Speaker 3: Harlem something like North Manhattan no. Yeah. And so once
Speaker 3: they start to get funny with those names like so
Speaker 3: Bro no ho, that's like the hipsters. They trying to
Speaker 3: they try to rebrand it.
Speaker 5: They trying to rebrand the community. Those are part of
Speaker 5: you were talking about as a stigma, that the old
Speaker 5: name has a stigma, so they want to try to,
Speaker 5: like you said, rebranded.
Speaker 2: Yeah. So that that's part of the announcement. So when
Speaker 2: you were talking about announcements, when you start seeing things
Speaker 2: like that, I saw somewhere and you can correct me
Speaker 2: if if I'm wrong, but they named the Fifth World
Speaker 2: they have a cultural arts district.
Speaker 5: Yes, yes, Now now thankfully with this with this time,
Speaker 5: it was us doing that. So the fifth World Redevelopment
Speaker 5: Corporation did that Culture Arts District, and it's it's gonna
Speaker 5: be You're right, it's going to be the first African
Speaker 5: American culture Arts district in Houston.
Speaker 2: Perfect.
Speaker 5: Perfect, yeah, man, So that's what I'm saying. This neighborhood,
Speaker 5: they've been staying ahead of you know, not not playing
Speaker 5: victim and being behind. They've been in front of the ball.
Speaker 5: So it's been really good. So this goes back to
Speaker 5: this is the CEO recently in August, you know, amidst covid,
Speaker 5: just saying that the project is still going forward. Right,
Speaker 5: So this is that same block. This is the same
Speaker 5: block that showed you earlier. That's what it looks like.
Speaker 3: Now you're not sure that that's your blocks?
Speaker 2: That's your block, man?
Speaker 3: Now you pulled up on that. Yeah yeah, man, put
Speaker 3: put that, put the clap in the mode. I just
Speaker 3: wanted to know, you gotta celebrate that, man, because yeah,
Speaker 3: I wish we could do a side by side. But
Speaker 3: that block that he brought earlier, Yeah, let me.
Speaker 5: Go back to it.
Speaker 3: Yeah, can you go back to that? Yeah? So that
Speaker 3: block you brought, that block and then how many years later, uh.
Speaker 5: So twenty fourteen, and then two thousand, nineteen twenty eighteen
Speaker 5: when when I first started building them, So twenty nineteen
Speaker 5: they were the first three were done. I think that's
Speaker 5: when I was on y'all show last year, and you know,
Speaker 5: people told me that they were like, man, nobody's gonna
Speaker 5: buy that. You know, nobody's gonna want to live in
Speaker 5: the neighborhood. You know you're not gonna be able to
Speaker 5: get the prices that you're thinking you're gonna get for them.
Speaker 5: And I mean, I proved everybody wrong. I got I
Speaker 5: got full asking price. All the buyers looked like me, everybody.
Speaker 5: I didn't have to oversell anybody. There's enough of us
Speaker 5: that see the value of moving back to our communities
Speaker 5: that you know it's worth it. It's worth it's worth
Speaker 5: taking a shot, it's worth of rebuilding and bringing people
Speaker 5: back to the community.
Speaker 2: Man.
Speaker 5: One of one of the most powerful experiences I had
Speaker 5: was when I was under construction. It's two two black
Speaker 5: kids walked down the street, two boys, they were like
Speaker 5: maybe thirteen fourteen something like that, and they were like, man,
Speaker 5: you're building rent houses And I'm like no. He's like
Speaker 5: he's like, you work for the person that's building these.
Speaker 5: I'm like, no, I'm building them. He was like okay,
Speaker 5: he's like, who's gonna buy these? I was like, well,
Speaker 5: who you think is gonna buymb He's like, well, it
Speaker 5: looked like it looked like white people are gonna buy them.
Speaker 5: And I was like, man, you know, you know, well
Speaker 5: you'll be surprised, you man, I know there's people that
Speaker 5: look like you that can also afford these types of things.
Speaker 5: And I was like, I had two of them under
Speaker 5: contract that I was like, so, actually the first two
Speaker 5: buyers are people that come from a neighborhood just like
Speaker 5: you and went to college, and you know, they have
Speaker 5: good jobs now and now they're coming back and buying this.
Speaker 5: And they were like, man, we didn't know that was possible.
Speaker 5: But you know, that sounds it sounds kind of cliche,
Speaker 5: But there's kids in that community that now have a
Speaker 5: positive representation. They can see people that look like them,
Speaker 5: that's our age pulling out their driveways and Porsches and
Speaker 5: Audi's and BMW's. It looked like them. That's a representation
Speaker 5: they didn't have before. The only representation they had of
Speaker 5: successful people was illegal entrepreneurs. You know, but that's all
Speaker 5: a part of buying the block. Man, It's not just
Speaker 5: about you buying and you being an investor and just
Speaker 5: holding onto it. It's about creating opportunities like this as
Speaker 5: being in a development and building and enticing other people
Speaker 5: to come back to the community.
Speaker 3: So that's amazing.
Speaker 5: Yeah, So fast forward. This is fifth Ward. Now you
Speaker 5: see all these prices over here, right for four hundred
Speaker 5: thousand dollars. Now, when I bought that first block, you
Speaker 5: couldn't you couldn't sell a lot for twenty thousand dollars.
Speaker 5: It would just sit. But now you have all this activity,
Speaker 5: the yellow ones appending the green, the new listings, and
Speaker 5: there's a bunch of souls that are in the community.
Speaker 5: But four hundred thousand dollars, you know. And so this
Speaker 5: is one of one of the articles that they put
Speaker 5: me in the paper for just talking about my projects.
Speaker 5: This is not talking about the second project. So let's
Speaker 5: go back to the highway story. So this block right
Speaker 5: here is the second product. This is the eighteen houses
Speaker 5: I was talking about with the two commercial buildings. This
Speaker 5: is that same freeway once again, an infamous freeway. So
Speaker 5: you know, we can continue to talk about these things
Speaker 5: and complain about them, or we can say, okay, we
Speaker 5: know this is there, we know this happened. Now what
Speaker 5: are we going to do about it? Right, it's our
Speaker 5: responsibility to fix the problem. So the owners of this,
Speaker 5: the landlords, they had had this for about twenty years
Speaker 5: and they were ready to retire. So not all landlords
Speaker 5: passed property down. That's another myth. Real estate is not
Speaker 5: generational wealth unless you have taught your kids how to
Speaker 5: do systems and they see that it's worthwhile for them
Speaker 5: to take over that same investment, that same vehicle. In
Speaker 5: this case, the kids did not want to take over it,
Speaker 5: so the parents were told that they should sell it. Okay. So,
Speaker 5: and what would have happened if I didn't buy it,
Speaker 5: Because all that redevelopment, by the way, all those new
Speaker 5: town homes, if you see my cursor up in the
Speaker 5: left corner, that's right there, that's all new construction right there.
Speaker 5: So had I not bought it, an investor outside the
Speaker 5: community would have bought it, and they would done a
Speaker 5: couple of things. They would have came in and you know,
Speaker 5: did the deep renovations, you know, and then raised the rents.
Speaker 5: And if tenants can't afford it, oh well, or they
Speaker 5: would have held it for a little while decided to
Speaker 5: tear it down and build some new construction here. But
Speaker 5: for me, this was an opportunity to say, Okay, on
Speaker 5: that other block, I bought that old abandoned grocery store
Speaker 5: in that site, I brought new construction in. Now I
Speaker 5: can show the other side of it in the block.
Speaker 5: We can buy the block and make sure we preserve
Speaker 5: the lifestyles and the sense of normalcy that the residents
Speaker 5: have that have been here long term. So the way
Speaker 5: you can do a project like this, it is so
Speaker 5: close to redevelopment, it's so close to the catalyst that
Speaker 5: I talked about earlier, is that you can get your
Speaker 5: return on your investment through value appreciation. Okay, because this
Speaker 5: property value is going to go up significantly, so you
Speaker 5: don't have to worry so much about cash flow solely
Speaker 5: where you have to raise the rents astronomically to get
Speaker 5: the return. This property value is going to double or triple,
Speaker 5: but you know, conservative conservatively, I'm saying it's going to
Speaker 5: go up thirty to forty percent. But every other neighborhood
Speaker 5: that's been gentrified, lots that will worth two fifty. I mean,
Speaker 5: we're worth twenty five thousand, and now we're two hundred
Speaker 5: fifty thousand. So for this one, this is the one
Speaker 5: I actually got to do the crowdfund on. So what
Speaker 5: I did with the crowdfund, I'll go back to this flab.
Speaker 5: The crowdfund is once I negotiated with the sellers to
Speaker 5: the purchase price. They wanted one point five million for
Speaker 5: the whole block. I negotiated them down to one point
Speaker 5: two five So I negotiate them down a quarter of
Speaker 5: a million. And you know what happened was, since they
Speaker 5: were sellers and you know, they really didn't have accounting
Speaker 5: and all that kind of stuff, I told them, you know,
Speaker 5: even if you wanted to, if you wanted me to
Speaker 5: pay one point five for it, I couldn't go to
Speaker 5: a bank and get a one point five million dollar
Speaker 5: valuation because you don't, you know, there's no accounting records
Speaker 5: to show where the true revenue is for the property.
Speaker 5: There's not a lot of sales in the community. So
Speaker 5: you know what I would like to do is get
Speaker 5: you to, you know, come down a little bit off
Speaker 5: of that price and work with me over a few years.
Speaker 5: Let me establish the accounting records. Let me establish all
Speaker 5: these things, and then I can go back and refinance.
Speaker 5: And then once the bank sees the you know, the records,
Speaker 5: they can extract a true value for that entire block,
Speaker 5: and it'll be much easier for me to get them
Speaker 5: to give me six hundred and fifty thousand, which is
Speaker 5: half of the purchase price, then it would be for
Speaker 5: me to go and ask them for one point five
Speaker 5: million right now. And so that's the kind of conversations
Speaker 5: you have to have with sellers sometimes if you want
Speaker 5: to get creative, and they bought in, you know, so
Speaker 5: they owner finances, they wouldn't take ten percent, they wouldn't
Speaker 5: take twenty percent down so they wanted something significant, so
Speaker 5: fifty percent. So what I did with that was, first
Speaker 5: I secured a private investor that I knew that could
Speaker 5: back me on bringing the majority of that down payment
Speaker 5: to closing if I couldn't raise it. But once I
Speaker 5: secured that this is the opportunity that I decided it
Speaker 5: was okay to do a crowdfund with. Because the crowdfund,
Speaker 5: like I talked about earlier, it requires you to have
Speaker 5: all your your i's dotted and your tea's crossed because
Speaker 5: you're going to take outside people's money. And so with this,
Speaker 5: some of these residents in these houses have been living
Speaker 5: there for twenty years. Literally. There's there's mother daughters that
Speaker 5: live in separate houses on the property. There's niece and
Speaker 5: uncle that lived next door to each other. And you know,
Speaker 5: these are long term stable tenants, all all African American,
Speaker 5: some of them most of them actually all of them hardworking.
Speaker 5: I don't have there's no there's really no Section eight
Speaker 5: tens here. These are people that are just hardworking but
Speaker 5: on fixed incomes. Right, So for that, that made a
Speaker 5: good base case for me. It's like, Okay, there's long
Speaker 5: term stable revenue coming from the residential side of this property.
Speaker 5: These two commercial buildings over here were vacant, so that
Speaker 5: gives me upside, right, so I can buy it. No,
Speaker 5: I'm gonna have all this revenue, which is about nine thousand,
Speaker 5: almost ten thousand dollars a month coming from here, and
Speaker 5: then I can go in and renovate these two and
Speaker 5: bring in another seven eight thousand dollars a month in
Speaker 5: revenue on the commercial side. So that's what I did.
Speaker 5: So that's how I decided to package it up and
Speaker 5: I decided to do the crowdfund, and you know, I
Speaker 5: didn't know how successful the crowdfund was going to be,
Speaker 5: but it ended up being extremely successful. The most you
Speaker 5: can raise with this type of crowdfund and it's sec regulated,
Speaker 5: is a million and seventy thousand, and it took me
Speaker 5: seven months and we that we hit that goal. So
Speaker 5: that gave us an enough money to go in and
Speaker 5: renovate everything and pay off the short term debt with
Speaker 5: the bridge loan because I did have the close on
Speaker 5: it in March, which was before I had raised the
Speaker 5: full six hundred thousand, so I ended up using some
Speaker 5: of the private investors' money, but not all of it.
Speaker 5: So this is what the properties looked like before. Again,
Speaker 5: attendants had been there long term. They were happy with it.
Speaker 5: So what I did was I just to reinforce that
Speaker 5: we were there to protect them and you know, we
Speaker 5: were going to be good landlords. I went and I
Speaker 5: did some slight renovations to the property just to make
Speaker 5: them feel better. So this is what it looks like now.
Speaker 5: I came in, I did landscaping, I put screens on
Speaker 5: everybody's windows to help with their utility bills, and repainted
Speaker 5: everything just made it look nice and neat, and you
Speaker 5: can see the bottom picture actually repaved everything to give
Speaker 5: it a fresh new look. This is the status of
Speaker 5: one of the commercial buildings. So this is going to
Speaker 5: be short term pier space. So this is what looked
Speaker 5: like before. It looked like it was almost tear down worthy,
Speaker 5: you know, but we took it back to the bones
Speaker 5: and now this is what it looks like, what it
Speaker 5: looked like on the inside before. And so this is
Speaker 5: what it looks like now. This is what a couple
Speaker 5: of weeks ago the renovations, and this is closer. This
Speaker 5: is what it looks like now. So I'm almost done
Speaker 5: with it. You know. This is going to be so
Speaker 5: think of airbnb, be for business, uses short term business,
Speaker 5: uses event space or like office spaces, et cetera, et cetera.
Speaker 5: And then this is the other building. This is the
Speaker 5: building down here in the corner where we've got to
Speaker 5: gut it back to the studs and we're getting ready
Speaker 5: to bring it back. It's probably going to be an
Speaker 5: event space for now, and then we're probably gonna turn
Speaker 5: into a coffee shop in a year or two. We
Speaker 5: had coffee shops the original concept because of COVID. I
Speaker 5: don't want to take all that additional and additional capital
Speaker 5: and invest in something that may not secure a tenant
Speaker 5: right away. So it's something like event spaces where you
Speaker 5: just I'm just building it back out to basically what
Speaker 5: they call in commercial real estate, just a box, right,
Speaker 5: so white floors, white walls, and lighting and open space
Speaker 5: so people can rent it and use it like that
Speaker 5: and we can generate revenue off of it without having
Speaker 5: to have a significant investment. Yeah man, And this is
Speaker 5: this is what you're talking about, Troy, the Culture Arts district.
Speaker 5: So the whole street, this whole street with fifth word
Speaker 5: Community Development Corporation got disapproved to be a culture arts district.
Speaker 2: So yeah.
Speaker 5: So and this project, this crowdfunded project is right here
Speaker 5: in the heart of it, right off of the freeway.
Speaker 5: So that's another upside for having ownership in this community
Speaker 5: because there's gonna be a lot of uh, public money
Speaker 5: coming into the community now because it's a culture arts district.
Speaker 5: So yeah, man, So that's it. That's that's what I
Speaker 5: got for you.
Speaker 3: That's incredible appreciation. I asked, I asked Chris to put
Speaker 3: together a presentation. I didn't know he was going to
Speaker 3: do a whole that was that was extremely impressive.
Speaker 8: Man.
Speaker 3: I really, I really really really really appreciate that. That
Speaker 3: was that was extremely extremely impressive.
Speaker 5: Well appreciated man, much appreciated man. And trust me, I
Speaker 5: can go hours on each one of those slides, So
Speaker 5: I tried to keep it short.
Speaker 3: Now you know what the thing about it is, and
Speaker 3: we're gonna go into the best part of the whole
Speaker 3: situation when people get to ask questions and answer the question.
Speaker 3: But it's like, you know, we're in a political season
Speaker 3: right now, and obviously everybody should go out there and
Speaker 3: vote for, you know, whatever you think is the right
Speaker 3: situation to do. But nobody's coming to save you either way.
Speaker 3: And you can't rely on you can't rely on government programs.
Speaker 3: You can't rely on any type of you know, opportunity zone,
Speaker 3: government assistance to help build. Like at the end of
Speaker 3: the day, human human nature is self preservation and people
Speaker 3: people are tribal by nature and and and they look
Speaker 3: out for their own tribe. So it's unrealistic to expect
Speaker 3: anybody to come ah better our situation as a community.
Speaker 3: This is why we have to do it ourselves. So
Speaker 3: when we just you know, give you the whole blueprint
Speaker 3: about how he built, how he's buying back the block
Speaker 3: in Houston, Texas. He's doing it like hook a crook.
Speaker 3: And the thing about it is like when he when
Speaker 3: he he just laid out like two different things because
Speaker 3: like the first one he did just private money the
Speaker 3: woman that had the IRA and then he puts some
Speaker 3: money down. Then the second time he did the crowdfunding.
Speaker 3: So he's given you multiple different like on that first
Speaker 3: slide where it was like you can do it yourself,
Speaker 3: you can do a bank finance, and you could do crowdfunding.
Speaker 3: He's giving you different things and he actually did different things.
Speaker 3: And it's like it's not like he's coming from you know,
Speaker 3: millions of dollars and got a million dollar loan and
Speaker 3: bank loans and all that stuff. It's like we can
Speaker 3: make excuses or we can we can get it done,
Speaker 3: and we can you know, change the direction of our
Speaker 3: of our family and our legacy. And that's what I
Speaker 3: really like about you. It's like you're not making excuses.
Speaker 3: He's just out here just just doing it done. Man,
Speaker 3: got it done.
Speaker 2: We ain't throwing the word legend around lightly. Man, We're
Speaker 2: talking to a real legend, and I'm glad you said
Speaker 2: opportunities zone because Chris I heard you say something that
Speaker 2: I've never heard before, and we kind of explained with
Speaker 2: opportunities zones well and shout out to our brother MG
Speaker 2: to Marris Guy. We did a whole segment on that,
Speaker 2: but you said they kind of really don't benefit us
Speaker 2: obviously because you have to have capital gains. But you
Speaker 2: said something very interesting. You said the process of moving.
Speaker 2: This episode is brought to you by P and C Bank.
Speaker 2: A lot of people think podcasts about work are boring,
Speaker 2: and sure they definitely can be, but understanding a professional's
Speaker 2: routine shows us how they achieve their success little by little,
Speaker 2: day after day. It's like banking with P and C Bank.
Speaker 2: It might seem boring to safe plan and make calculated
Speaker 2: decisions with your bank, but keeping your money boring is
Speaker 2: what helps you live or more happily fulfilled life. P
Speaker 2: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
Speaker 2: Boring since eighteen sixty five is a service mark of
Speaker 2: the PNC Financial Service Group, Inc. P and C Bank
Speaker 2: National Association Member FDIC erness What's Up? You ever walk
Speaker 2: into a small business and everything just works like. The
Speaker 2: checkout is fast, the receipts are digital, tipping is a breeze,
Speaker 2: and you're out the door before the line even builds.
Speaker 2: Odds are they're using Square. We love supporting businesses that
Speaker 2: run on Square because it's feel seamless. Whether it's a
Speaker 2: local coffee shop, a vendor at a pop up market,
Speaker 2: or even one of our merch partners, Square makes it
Speaker 2: easy for them to take payments, manage inventory, and run
Speaker 2: their business with confidence, all from one simple system. If
Speaker 2: you're a business owner or even just thinking about launching
Speaker 2: something soon, Square is hands down one of the best
Speaker 2: tools out there to help you start, run and grow.
Speaker 2: It's not just about payments, it's about giving you time
Speaker 2: back so you can focus on what matters most ready.
Speaker 2: To see how Square can transform your business, visit Square
Speaker 2: dot com backslash go backslash eyl to learn more that
Speaker 2: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.
Speaker 2: Let's Square handle the back end so you can keep
Speaker 2: pushing your vision forward.
Speaker 9: You just realized your business needed to hire someone yesterday.
Speaker 9: How can you find amazing candidates? Fast, easy, just to
Speaker 9: use Indeed. Stop struggling to get your job posts seen
Speaker 9: on other job sites. With Indeed sponsored jobs, your post
Speaker 9: jumps to the top of the page for your relevant candidates,
Speaker 9: so you can reach the people you want faster. According
Speaker 9: to Indeed data, sponsored jobs posted directly on Indeed have
Speaker 9: forty five percent more applications than non sponsored jobs. Don't
Speaker 9: wait any longer, speed up your hiring right now with Indeed,
Speaker 9: and listeners of this show will get a seventy five
Speaker 9: dollars sponsored job credit to get your jobs more visibility
Speaker 9: at indeed dot com slash pod Katz thirteen. Just go
Speaker 9: to Indeed dot com slash pod katz thirteen right now
Speaker 9: and support our show by saying you heard about Indeed
Speaker 9: on this podcast. Terms and conditions apply. Hiring Indeed is
Speaker 9: all you need.
Speaker 2: Bling your business into an opportunity zone could benefit us.
Speaker 2: Can you talk about that just a little bit.
Speaker 5: Yeah, So, so the way it works is, well, I
Speaker 5: think you have to acquire a business outside of an
Speaker 5: opportunity zone or you have to have investors. Okay, let
Speaker 5: me let me back up. So, yeah, so if you
Speaker 5: personally acquire a business that's outside of an opportunity zone
Speaker 5: and then you move it into an opportunity zone, you
Speaker 5: get the same tax benefits as the people that are
Speaker 5: investing in real estate in those zones. You can also
Speaker 5: have investors invest in a business for you to buy
Speaker 5: and then you relocate into an opportunity zone and those
Speaker 5: investors get those same tax benefits. And like you said,
Speaker 5: opportunity zones aren't really made for us because you have
Speaker 5: to have capital gains. So the way that you that
Speaker 5: you do benefit from it is you get investors to
Speaker 5: invest either in your real estate or your businesses. Get
Speaker 5: those those folks that do have capital gains to invest
Speaker 5: in your businesses. And then while you you may get
Speaker 5: a small portion of the actual returns from an investment,
Speaker 5: you know you you have the ability to leverage all
Speaker 5: of their capital for whatever project you're trying to get done.
Speaker 3: There, you have it, So we're gonna jump into it.
Speaker 3: Can you can you hang out with us a little
Speaker 3: bit longer? Yeah, definitely some question A So we're gonna
Speaker 3: we're gonna answer questions. So before we do that, anybody
Speaker 3: that came on late, So what we're doing right now,
Speaker 3: if you're wondering why we're doing like this special YouTube
Speaker 3: live Eyo University is a platform that we built and
Speaker 3: we do weekly webinars. We do this like we do
Speaker 3: classes like this every single week and every Wednesday at
Speaker 3: eight o'clock Eastern Standard, and the last Wednesday of the
Speaker 3: month we open it up to the public. We put
Speaker 3: it on YouTube, so it's like an open house, like,
Speaker 3: you know, we feel like the best way to kind
Speaker 3: of you know, put the product on display is for
Speaker 3: people to walk through try it out. Right. We have
Speaker 3: nothing to hide, so this is this is just what
Speaker 3: that is. So and outside of this, we do weekly classes.
Speaker 3: We got the book club, we got the movie Club,
Speaker 3: we got the Facebook Investment Group, we got biweekly real
Speaker 3: estate called a MG the mortgage guy, we got monthly
Speaker 3: financial planning calls with me. So we're really trying to
Speaker 3: build this out and to be like, like I keep
Speaker 3: saying Phoenix University because that's what I think about when
Speaker 3: I think about like online universities, I think, like everybody's
Speaker 3: kind of heard of Phoenix University, but I'm like, why
Speaker 3: can't EYL University be the flag bearer? And the way
Speaker 3: education is going now is like education is the only
Speaker 3: thing that can save you because it's like, you know,
Speaker 3: you you're trying to you know, you try to get
Speaker 3: a job, and it's it's good luck right now right,
Speaker 3: And it's like you know, self education, as Mickey Fax said,
Speaker 3: formal education can get you a portion, self education can
Speaker 3: make you a fortune. You're not gonna learn any of
Speaker 3: this stuff in any Ivy League Schoolie, you're not gonna
Speaker 3: learn any of this stuff in any Ivy League school.
Speaker 3: That's just a fact. It's not my opinion. It's a fact.
Speaker 3: And that has been told to us from hedge fund
Speaker 3: managers to VC capital firm owners, very high level intelligent people.
Speaker 3: They're like yo, with the information that you give. They're
Speaker 3: not teaching this in Stanford, like not at this level
Speaker 3: where people can understand it. For damn. They're free. So
Speaker 3: if you're interested in EYL University, like I said, this
Speaker 3: is an open house platform that we do once a month,
Speaker 3: and we're running a special promo cold forty percent off.
Speaker 3: The price goes up in twenty four hours, so eight
Speaker 3: o'clock tomorrow. But it's three hundred, like three hundred dolls,
Speaker 3: three hundred and foy dollars.
Speaker 2: Somebody just said that this class itself is worth the
Speaker 2: price for the whole.
Speaker 3: For the whole time. Yeah, it's like, you know, it's
Speaker 3: like the fact. What can you what can you do
Speaker 3: with that? That's like I said, that's a few bottles
Speaker 3: of Sarak, like one bottle of sarrock in the club.
Speaker 2: In the club a fact.
Speaker 3: That's a fact.
Speaker 2: Ain't no theories, ain't no gimmicks.
Speaker 5: Man.
Speaker 2: We're given it to you, real live from real life people.
Speaker 3: And there's no code because before a lot of people
Speaker 3: was asking about the code it was issued, so for
Speaker 3: twenty four hours we took the code off. But it's
Speaker 3: a special link. You can only use the link in
Speaker 3: the YouTube description or the link that's pinned in YouTube,
Speaker 3: So if you're watching it, that's the only way you
Speaker 3: can get that. It's not on the website. You got
Speaker 3: to go through that link. I'll put it in the
Speaker 3: chat again. But yeah, let's go to my favorite part.
Speaker 3: So this is the So the classes work like this
Speaker 3: where the presenter comes on and they present PowerPoint presentation
Speaker 3: and then afterwards the public EYO University members gets to
Speaker 3: ask them questions. And this is my favorite part because
Speaker 3: this is like mentorship in a sense where it's like
Speaker 3: you watch a pod cast and that's great. You get information,
Speaker 3: but people have questions. You try to d m these people,
Speaker 3: you know, it's hard for them to respond back. So
Speaker 3: this is the part that actually to me is even
Speaker 3: the best people get a sense of this in Market Mondays.
Speaker 3: But that's just a sense like this is what we
Speaker 3: do every week where people ask questions and they actually
Speaker 3: get to engage with these high level educated people. So
Speaker 3: let's let's get to some questions. I'm going to shout
Speaker 3: out to Julian Gordon e Yl, professor legend in his
Speaker 3: own right.
Speaker 2: That's a fact. That's a fact. I'm going to my
Speaker 2: boys straight out of Houston, Darius, I mute yourself. You've
Speaker 2: been unmuted.
Speaker 3: Bro, Hey, what's going on?
Speaker 5: What's going on?
Speaker 2: I'm in the building. Anything good, man, It's good with you,
Speaker 2: bro man.
Speaker 5: I cannot complain. I cannot complain.
Speaker 10: Loving the fact that we that we went the gentrification
Speaker 10: and buying back.
Speaker 2: The block route with this one.
Speaker 10: I was definitely happy to uh to hear and see
Speaker 10: see that post right there.
Speaker 5: Man, Chris, how you doing. I'm good, brother, how are you?
Speaker 5: I can't complain playing at all.
Speaker 10: I guess my question is is my cussing is not
Speaker 10: necessarily general, but as far as gentrification is concerned, you
Speaker 10: spoke a little bit about identifying neighborhoods or zip codes
Speaker 10: or just specific areas that may be ready to go
Speaker 10: through gentrification. I'm in Houston. I'm downtown right now, so
Speaker 10: like the Heights, I'm familiar with the Heights. I live
Speaker 10: near Humble, I'm familiar with Fifth Ward, Third Ward, all
Speaker 10: of that, And I'm driving through this stuff all day
Speaker 10: every day, and I'm seeing exactly what it is you've done.
Speaker 5: Yeah, I'm saying, you come from Humble. You see both
Speaker 5: of my projects from the freeway that part.
Speaker 10: So I'm like, right over here on Elgin fifty nine
Speaker 10: and Elgin before we're coming from down town.
Speaker 5: Over the third Ward.
Speaker 10: Like those properties that are right there alongside the freeway
Speaker 10: when they was raggedy, I saw them when they knocked
Speaker 10: them down.
Speaker 5: I saw them when they pinned them up. Yep.
Speaker 10: So I'm looking at it and I'm like, Okay, So
Speaker 10: how do I go about identifying areas that are on
Speaker 10: the cusp or already in the process of the gentrification.
Speaker 10: And then as far as getting in on that. I
Speaker 10: like the way that you built that, you built that out.
Speaker 10: So my question is is like, you still doing your
Speaker 10: thing in Houston. So is there an area that I
Speaker 10: can kind of just be like, Okay, this is what
Speaker 10: Chris was talking about right here.
Speaker 5: Man, there's tons of it. I mean you name some
Speaker 5: of them. That Elgin area that's third Ward close to
Speaker 5: the TSU. You get this opportunities. You go south towards
Speaker 5: Sunnyside outside of the Medical Center they call it in Sunnyside.
Speaker 5: Used to be here, they call it in Medical Center South.
Speaker 5: Now the fifth Ward still has a ton of opportunity. Man,
Speaker 5: it's just getting started. Like I said, that big project
Speaker 5: won't even be complete till twenty twenty three. So you
Speaker 5: got three or four neighborhoods right there, all along fifty
Speaker 5: nine prime for you to try to get it.
Speaker 3: Can you talk about You spoke about it briefly, but
Speaker 3: you spoke on the podcast. Also city development and urban
Speaker 3: planning websites.
Speaker 5: Yeah, So every city, every city has a planning and
Speaker 5: development department. Some of them call it urban planning, I
Speaker 5: think some of some of them call it planning and development.
Speaker 5: But in that sector of the website, there's always their plans.
Speaker 5: They have five year, ten year, twenty year plans. Some
Speaker 5: of them were posting the different variance requests that are
Speaker 5: coming up for different developer projects, and so on that site,
Speaker 5: you can see where the city is trying to go
Speaker 5: with redevelopment, and you can see where the city is
Speaker 5: planning to reinvest in infrastructure over the next five years
Speaker 5: or ten years. And so that can be a key
Speaker 5: indicator of where you should go as well, because especially
Speaker 5: if it's a city that has the ability to get
Speaker 5: grant money that type of thing, they're going to be
Speaker 5: enticing developers and other people to go in there to
Speaker 5: be that catalyst like the big project I showed y'all.
Speaker 5: And so once you see those types of things, and
Speaker 5: then it's time for you to try to, you know,
Speaker 5: just get in the money flow of what's going on
Speaker 5: in that area.
Speaker 2: So yeah, Dars, appreciate you. Bro. Houston's own YO. You
Speaker 2: didn't notice, but I put Beyonce up there for you.
Speaker 3: Soon shout out. We got shot out a few a few,
Speaker 3: a few of our loyal supporters in Houston, Texas from
Speaker 3: the hip hop side, Toby Way, we had him here,
Speaker 3: We had him on this on the show, and he's
Speaker 3: tearing that he's the hottest dude out right now. Seen
Speaker 3: them last night at hip hop. He did his thing,
Speaker 3: a little kikey legend. Legend came to our event, came
Speaker 3: to our event. Used to let the airport Jazz. Prince
Speaker 3: reached out to me on Instagram, shout out to shout
Speaker 3: out to the whole Prince family. We got crazy story
Speaker 3: about the Prince family. Paul Wall ran into him at
Speaker 3: the airport. Yo, we were coming to Houston, man, we coming.
Speaker 3: Don't forget Slim Dog. Slim Dog ran into him. Also
Speaker 3: a shout to Slim Thug.
Speaker 2: We had a crazy weekend.
Speaker 3: Sh shout out to Madhatta.
Speaker 11: Yo.
Speaker 3: That was a crazy week crazy shout.
Speaker 2: Show.
Speaker 3: So yeah, I just wanted to shy youyboy in Houston.
Speaker 2: Shout to Mike Brown.
Speaker 3: Shout to Mike Brown, like, yeah, shout out to jazz.
Speaker 3: Yeah from Lace Chateau.
Speaker 2: That's a fact. Jasmine, What up? What up? Uh, let's
Speaker 2: go to I'm gonna mixture bass me. Hope, I got
Speaker 2: that right. I mute yourself. You've been unmuted. What's going on?
Speaker 2: We know there's no fresher. Oh every time I say fridge,
Speaker 2: they on. What's going on?
Speaker 3: What's going on? Oh?
Speaker 5: Yeah, I just want to ask real when you did
Speaker 5: that crowd funded, right, was that with the promise of
Speaker 5: keeping the properties and renting them out or are you
Speaker 5: giving out dividends? How is that?
Speaker 3: How are they getting a return on their money? That's
Speaker 3: what platform crowd.
Speaker 5: That's a great question. Yeah, so the platform I use
Speaker 5: is called bottle block dot com based on Denver, Colorado.
Speaker 5: But yeah, so they are getting dividends, so they what
Speaker 5: I'm doing is I'm taking forty percent of the net
Speaker 5: profit from the rents and I'm dividing that up and
Speaker 5: I'm sending that out to everybody. And so just like
Speaker 5: in the dividend, it'll be between like two to three percent,
Speaker 5: like one and a half to three percent of the
Speaker 5: investment amount. But you know you're on Nike stock, you
Speaker 5: get a one percent dividend, and so you know with
Speaker 5: this you also get the share value appreciation because you're
Speaker 5: not just donating money, you're not lending money. You actually
Speaker 5: bought a piece of ownership of this property. So as
Speaker 5: the property value goes up, your share value goes up.
Speaker 5: And so that's where the real return is. And so
Speaker 5: the way I have the project set up, it's supposed
Speaker 5: to be a seven year project. So you know, we
Speaker 5: bought it for one point two particularly be worth about
Speaker 5: three million in about seven years and then so you
Speaker 5: have options to sell your shares and get out. We
Speaker 5: can refinance it and stay in and basically everybody can
Speaker 5: still pull their initial capital out they initially invested. So
Speaker 5: that's how it got a structured.
Speaker 2: So appreciate that, SHARLRETTA were coming to you. I hope
Speaker 2: I said your name right, Sharrett.
Speaker 5: I hope ready, Yeah, you said it right here.
Speaker 2: We go, and you was ready right when I pressed
Speaker 2: on you. Thank you.
Speaker 11: I was ready to pounce.
Speaker 5: I was ready to pounce. Do it Okay.
Speaker 12: So I just want to say I've been with you
Speaker 12: aileybout forty five days, and Yo, this is so worth
Speaker 12: the investment.
Speaker 2: I appreciate.
Speaker 12: Appreciate that, Chris is finally nice to see your face
Speaker 12: because I tell you, I'm kicking myself that I did
Speaker 12: not join when you guys had this out on by the.
Speaker 5: Block dot com. Oh that, but I love the thought process.
Speaker 4: So one of the questions I really had was for.
Speaker 5: Someone like myself.
Speaker 12: I actually came across a property about three years ago
Speaker 12: in one of these up and coming neighborhoods. I'm getting
Speaker 12: ready to actually build my first home, and one of
Speaker 12: my things is, you know, I'm kind of torn in
Speaker 12: the fact that you know it is you know, developers
Speaker 12: are coming in that don't necessarily look like us. So
Speaker 12: what advice would you have for someone getting in the
Speaker 12: game that necessarily doesn't have the capitalization to go and
Speaker 12: buy the block and starting out with that one one
Speaker 12: piece here or there.
Speaker 5: Yeah, definitely start wherever you can. You know, the developers
Speaker 5: are going to come. Like I said, you can't really
Speaker 5: stop them. So you know, some of the other concept
Speaker 5: we'll talk about, maybe like getting a small group of
Speaker 5: people together to co invest with you. You can maybe
Speaker 5: two or three people that may have some money sitting
Speaker 5: in the old UH savings, that kind of old UH
Speaker 5: four one K we talked about earlier. You can use
Speaker 5: that as your down payment and maybe have another partner
Speaker 5: has good credit. You know, if you're going to try
Speaker 5: to do something, I wouldn't say try to start with
Speaker 5: ground up development or new new construction. I would suggest
Speaker 5: you try to buy some, you know, something that's in
Speaker 5: decent condition already, even even the new building the right area,
Speaker 5: if the construction and the redevelopment is happening quickly. You
Speaker 5: can still you can still get equity in your home
Speaker 5: pretty quickly. It rather it's an investment that's your primary residents.
Speaker 5: And would also tell people too, is like if you
Speaker 5: want to be an investor, you want to be a landlorder,
Speaker 5: you got to think about if you're buying something that's existing,
Speaker 5: even if it passes inspection, right, the inspectors only looking
Speaker 5: for things that are wrong. But if you've got a
Speaker 5: house that's let's say it's twenty years old and they
Speaker 5: put a twenty year well they put a let's say
Speaker 5: they put a thirty year roof on it, you got
Speaker 5: a plan as as as the owner of their property
Speaker 5: that to replace a roof in five or six years
Speaker 5: or ten years max. Right, those type of things people
Speaker 5: don't think about. Whereas if you buy a brand new
Speaker 5: property in the community like this, but the property the
Speaker 5: values are going up. You know everything's new, so you
Speaker 5: have a longer runway before you have to start investing
Speaker 5: in repairs. So just just things to think about. And
Speaker 5: if you haven't well, if you haven't used like your
Speaker 5: first time home buyer credit or anything like that, you
Speaker 5: can get into something with three percent down even if
Speaker 5: you don't want to stay in it forever, just stay
Speaker 5: in it for a little while and turn into an
Speaker 5: investment property. Got all right, I appreciate thanks at.
Speaker 2: The game, then appreciate you appreciate it. First time homebodyies
Speaker 2: you say, yep.
Speaker 3: And people they watching our journey, like you know, we
Speaker 3: did trucking because we did the trucks with shout out
Speaker 3: to alex So we just brought our first truck and
Speaker 3: we're going to be like showing people the journey into that.
Speaker 3: So watch what we're doing in Cleveland, Ohio. We got
Speaker 3: a shout to be on wind shout out to big business.
Speaker 3: Shot about in Cleveland. But oh yeah, well we might
Speaker 3: come in Houston.
Speaker 2: I'm thinking about Houston.
Speaker 5: Bro.
Speaker 2: I'm like, yo, bro, we got a lot of love
Speaker 2: out there. Remember we was just in a random strip
Speaker 2: on eating. It was just like, yo, we love you
Speaker 2: out here.
Speaker 3: We got to talk about the prices out there.
Speaker 5: I was about to say, man, I can't we can't
Speaker 5: compete with those prices up there.
Speaker 3: Cleveland, Ohio. It's different right now.
Speaker 2: We gotta open invitation in Nashville as well. We might
Speaker 2: there's there's there's a couple of cities we might have
Speaker 2: to look.
Speaker 3: At Nashville, Tennessee. Shot out in Nashville.
Speaker 2: Let's see. Uh, I haven't seen this thing before, Garth,
Speaker 2: were coming to you, Garth, i'mut yourself. You've been unmuted,
Speaker 2: you guys. G Chris Garth, can you tell your volume
Speaker 2: up just a little bit? Hold on, They was about
Speaker 2: to hit you with the deadlines.
Speaker 13: Bro, know it was coming.
Speaker 3: Was rushing.
Speaker 13: Fabulous presentation, Troy Rashard, you know, fabulous job. Keep up
Speaker 13: the good work. Chris, you know the stuff that you're
Speaker 13: doing there. I'm here thinking, I'm like, dude, we need
Speaker 13: to replicate this across the country, you know what I mean?
Speaker 13: Just clone you or you create disciples and just spread
Speaker 13: them across the US and we just do our thing.
Speaker 13: And you know that's that's what I'm seeing right now.
Speaker 13: I know Julian down in New Orleans, he's doing this
Speaker 13: thing down here as well.
Speaker 5: I'm saying, we have.
Speaker 13: All these resources, man, we need to pull this together.
Speaker 13: Troy and Rashad, you guys are the the link between
Speaker 13: you know, to pull all this together, you know, create
Speaker 13: a master class or something where we get everybody together
Speaker 13: and put put something like this together where we you
Speaker 13: know this this energy, and just replicate it across country
Speaker 13: and just put in different pockets across the country and
Speaker 13: just do our thing. Man.
Speaker 3: Yeah, I mean, like I said, I wanted to say,
Speaker 3: she appreciated. I appreciate that. Shots at Julian Gordon. He's
Speaker 3: doing something similar in New Orleans, I believe. And of
Speaker 3: course we got Brandon Rule, who's one of the top
Speaker 3: real estate developers in the United States of America right now.
Speaker 3: We got a lot of we got a lot of
Speaker 3: relationships with a lot of good people.
Speaker 11: MG.
Speaker 3: The mortgage guy who's the number one real estate financing
Speaker 3: expert online. So maybe we can, maybe we can form
Speaker 3: a conglomorate Superpower super Pack, eyl Superpack.
Speaker 2: We're coming to take over the neighbor.
Speaker 5: But yeah, Garth Man, I appreciate the comment. Man, But
Speaker 5: that's exactly why I'm doing this. Why I'm being so
Speaker 5: transparent with everything, because it's way too much for me
Speaker 5: to try to tackle on my own. And I'm not
Speaker 5: I'm not the boastful, bragful, arrogant guy. I just want
Speaker 5: everybody on the same way.
Speaker 14: Man.
Speaker 5: It was frustrating not seeing enough of us doing this,
Speaker 5: And it's funny. I would be in conversations with all
Speaker 5: of these intellectuals, these IVY League graduates, our community, and
Speaker 5: they would tell me why it wouldn't work. And eventually
Speaker 5: I was just like, I'm just gonna do it. I'm
Speaker 5: just gonna show them that it can't work, you know.
Speaker 5: And I think that's what it takes for a lot
Speaker 5: of us just to get to get in there and
Speaker 5: start doing it.
Speaker 2: They keep driving on the highway, They're gonna see what
Speaker 2: you're doing. Is there? All right, Wanda, we are coming
Speaker 2: to you. I mute yourself. You've been unmuted. What's up?
Speaker 15: Hi?
Speaker 3: Y'all?
Speaker 16: First of all, I love you. I love to show
Speaker 16: out of the platform. I've told everybody in my organization.
Speaker 16: I have twelve hundred people about this, well, the black people.
Speaker 3: We love everybody.
Speaker 16: I have this like pipe dream of building a thriving
Speaker 16: Black community. And I call it a pipe dream because
Speaker 16: I like the strategy that you're talking about in terms
Speaker 16: of going into an area that's on the verge of
Speaker 16: re vitalization or gentrification. But I have a question about
Speaker 16: an area like Gary, Indiana, where and I'm from New York,
Speaker 16: I don't know anything about Gary. It came to me
Speaker 16: in a dream. So Gary, there was white flight and
Speaker 16: then black flight. In the fifties and sixties, industry left
Speaker 16: the place, and right now it's virtually abandoned over the
Speaker 16: past forty years, but slowly but surely, like I heard
Speaker 16: that there's a hotel coming to the beach area and
Speaker 16: there's an investment in building a new school. So my
Speaker 16: question is, what do you think about going into an
Speaker 16: area that is not even quite on the verge of
Speaker 16: revitalization and buying the block there and maybe networking with
Speaker 16: other real estate investors who are black and trying to
Speaker 16: lure people from Chicago who are thirty minutes away. A
Speaker 16: lot of them left Gary to go to Chicago. What
Speaker 16: do you think about that as a strategy. Is it
Speaker 16: really a pipe dream? Should I move forward or should
Speaker 16: I look for a place that is already gentrifying or
Speaker 16: revitalizing right now?
Speaker 5: That's definitely a risk tolerance question, okay, because you don't
Speaker 5: know how long it's going to take for that to
Speaker 5: take off. If you can invest in it and hold
Speaker 5: it long enough where it's not if you got money
Speaker 5: that's not going to hurt you to invest in the
Speaker 5: property and just let it sit there. And wait for
Speaker 5: that to happen. And that's okay. But if you're expecting
Speaker 5: a quick return on whatever, I would say, go somewhere
Speaker 5: where the bet is more sure. You know where you
Speaker 5: where you have a more solid opportunity to get into
Speaker 5: whatever you're going to do, make some money, and continue
Speaker 5: to expand. I think that happens a lot of times.
Speaker 5: People buy properly in the wrong neighborhoods and the values
Speaker 5: don't appreciate. Sometimes the values are stagnant or even go down,
Speaker 5: and you end up losing money if you look at
Speaker 5: inflation and everything else and your cost of like taxes
Speaker 5: and insurance and all that kind of stuff. So you
Speaker 5: got to be really really strategic with that. I personally
Speaker 5: wouldn't suggest it, but if you have the capital to
Speaker 5: do it, then you know it's it won't hurt try.
Speaker 3: Thank you so much, appreciate you. I think that's the
Speaker 3: question a lot of people have, like coming from New
Speaker 3: York or whatever, it's like la where it's just the
Speaker 3: real estate is crazy and they want to go to
Speaker 3: these different towns, but it's like, you don't know anybody.
Speaker 3: And the reason why I said Cleveland, Ohio, is that
Speaker 3: we really built a strong relationship with beyond when shout
Speaker 3: out to him, just a real solid dude, and you
Speaker 3: know that's somebody that we trust. And it's like, you know,
Speaker 3: even Maurice Cloret, a good friend of mine who's out
Speaker 3: in Columbus, Ohio. So you know, I really know like
Speaker 3: these people are. Actually they live out there. They you know,
Speaker 3: So I'm not going to go to anybody's turf and
Speaker 3: try to do the Chrystopher Columbus day. Just take over.
Speaker 5: And you know what, that is a great point because
Speaker 5: like those like we're beyond them are there is a
Speaker 5: strong rental market there and there's not enough housing. So
Speaker 5: if that's the business case that you're looking at, then
Speaker 5: still it still makes sense because you can buy the
Speaker 5: chop the property really really and expensively and still have
Speaker 5: positive cash flow and make great returns.
Speaker 2: Really, I'll tell you another great place to find people
Speaker 2: that are from other places inside the investment group. I'm
Speaker 2: telling you, like every time that somebody posts like, yo, hey,
Speaker 2: I live in Houston, is there anybody that is a
Speaker 2: developer in Houston? It's a great resource. Yo, is there
Speaker 2: anybody in Cleveland? Every day? I see it like somebody
Speaker 2: from another part of the country is like, yo, anybody
Speaker 2: here in this area. It's a great way to network
Speaker 2: and a great way to resource and come together. Right
Speaker 2: if I'm not from Gary, I'm guaranteeing out of the
Speaker 2: five thousand almost six thousand people, somebody knows the area.
Speaker 3: And Matt Matt was doing, He's gonna bring it back
Speaker 3: when he was doing the city right each city, so
Speaker 3: he did, like the real estate updates for the Bay Area,
Speaker 3: the real estate updates for Houston, and real estate updates
Speaker 3: for Philly. Those are good resources too because it's like
Speaker 3: now that's specific for that area. So even if you
Speaker 3: don't live in Philly, but you're interested in Philadelphia real estate,
Speaker 3: you can network. It's all about network. And that was
Speaker 3: my whole point, is that it's just about networking. And
Speaker 3: I feel like, you know, a lot of times what's
Speaker 3: stopping us is the relationships. And that's another thing that
Speaker 3: we built with the university. It's just relationships, but just
Speaker 3: in general, just in life, like you might have a
Speaker 3: family member, you may have a cousin, you might have
Speaker 3: to you know, you never know who you're going to
Speaker 3: meet and get introduced to. But relationships can take you
Speaker 3: a long long way. You can have all knowledge in
Speaker 3: the world, but if you don't have the relationships, you
Speaker 3: might not be able to execute. So it's relationships that
Speaker 3: are extremely, extremely important in my opinion.
Speaker 2: Bianca were coming to you, I'm mute yourself. You've been unmuted.
Speaker 2: What's up, hi?
Speaker 15: How you doing?
Speaker 2: Of how fast y'all was going? Everything's great.
Speaker 15: I just didn't expect that to happen. So my question
Speaker 15: is probably very similar to one of the first questions,
Speaker 15: but I never get to get on, so I'm just
Speaker 15: going to say it. So just about the opportunity zoned. So,
Speaker 15: I'm from Augusta, Georgia, and I moved to Minneapolis five
Speaker 15: years ago, and I noticed North Minneapolis is like one
Speaker 15: of the most undeveloped, neglected places in Minneapolis. But I
Speaker 15: just read something today about the city planning to put
Speaker 15: a concert venue up there. They they're getting like millions
Speaker 15: of dollars. Would you consider this like a opportunity zone?
Speaker 5: Well, so, an opportunity zone is actually a government designation
Speaker 5: for specific neighborhoods that have like specific low income demographic
Speaker 5: or like then they have like usual issues like food
Speaker 5: deserts where it's no grocery stores and those types of things,
Speaker 5: and so those zones were created to kind of pinpoint
Speaker 5: areas where the government wanted these high networks people or
Speaker 5: people that have capital gains to invest and park their
Speaker 5: money for up to ten years in exchange for getting
Speaker 5: a tax abatement basically a tax deferment, and like whatever
Speaker 5: whatever they buy over the ten years, they actually can
Speaker 5: sell it at the end and not pay any taxes
Speaker 5: on that at all. So I'm not sure if that
Speaker 5: you'd have to. You can really just google opportunities on
Speaker 5: map and it'll tell you if that area is an
Speaker 5: opportunity zone or not, and then it sounds like something
Speaker 5: that that may be a catalyst for other development to
Speaker 5: come around it. So I would definitely I would stay
Speaker 5: tuned to see what's going on. If you know any
Speaker 5: realtors anybody that may be in that that may know
Speaker 5: that market, I would say you suggest you talk to
Speaker 5: them to see if they know of any realtors that
Speaker 5: represent builders in new construction that because if those builders
Speaker 5: are looking at that area, and that tells you that
Speaker 5: things are about to pick up.
Speaker 3: Okay, thank you, Yeah, you know what I just thought
Speaker 3: about something we're going to do in it hopefully you
Speaker 3: can help us out with this. We have almost four
Speaker 3: thousand members in our in our private our private investment
Speaker 3: group on Facebook, so we should we could. We can
Speaker 3: set up geographical groups, like we can have a New
Speaker 3: York group, we can have an l A group, we
Speaker 3: can have affiliate like. That means, so that way people
Speaker 3: can they can identify themselves by like where they actually live.
Speaker 3: And like I said, even if you don't live So
Speaker 3: even if you live in New York, but you might
Speaker 3: be interested in Houston real estate. If there's three hundred
Speaker 3: people from Houston in a Houston group, now you can
Speaker 3: network with them, and that gives you three hundred people
Speaker 3: that you can actually, you know, reach out to and
Speaker 3: build with. So we're gonna get that done. Thank you.
Speaker 2: I guarantee seven o'clock. I'm gonna have fourteen text mess
Speaker 2: Shy said. He said, I appreciate that. Ah man, Let's
Speaker 2: go to a new name. Oh, Whitney, I haven't seen
Speaker 2: this thing before. Whitney, what's going on? Mute self? You
Speaker 2: been unmuted?
Speaker 6: Hey, guys, thanks for this awesome information.
Speaker 17: I appreciate I appreciate everything that eyl is bringing to
Speaker 17: the table.
Speaker 6: And I'm a newbie.
Speaker 17: I've only been a member of about a month or so,
Speaker 17: but I'm really happy to be appreciate that, bro.
Speaker 6: I got a message for Chris.
Speaker 17: I serve on the political side and the community side
Speaker 17: for a lot of housing agencies or community redevelopment boards
Speaker 17: and economic development boards. And I do that, as I said,
Speaker 17: and I actually put my question in the thing just
Speaker 17: so I can be at the table and hear about
Speaker 17: deals that are coming down and actually bring it.
Speaker 6: Back to our community.
Speaker 17: But I get a lot of pushback from our community
Speaker 17: because mostly I think because they just they see that
Speaker 17: their communities are being changed and they feel helpless to
Speaker 17: get involved or helpless to do anything about it because
Speaker 17: they don't have the financial wherewithal to do anything. What
Speaker 17: are some strategies that you've used or that you seen
Speaker 17: yous that actually help to engage local communities, particularly our
Speaker 17: community black people and bring them along through this process.
Speaker 5: Man, you know, it's tough. I mean, I thankfully the
Speaker 5: projects that I have they kind of see something different
Speaker 5: and they see that I'm not displacing people. But for
Speaker 5: the for the a lot of times, people are just
Speaker 5: adverse to change, right, So I think the best thing
Speaker 5: that you could do probably would be to bring in
Speaker 5: a group of investors, if you know, a group of
Speaker 5: investors or developers that may be of the right mindset,
Speaker 5: and have them come and talk to the community. And
Speaker 5: you know, if you if you know where the projects
Speaker 5: are going and you know what's coming, put put that
Speaker 5: group in front of the projects and let them, you know,
Speaker 5: interface with the community, kind of bring some of the
Speaker 5: amenities and services the community may be looking for, or
Speaker 5: explain to them why it's not the right time for
Speaker 5: certain things. Like you know, a lot of the communities,
Speaker 5: like like I said, they will want the grocery store now,
Speaker 5: and they'll want this and that now, but they don't
Speaker 5: want the new housing, you know, and you have to
Speaker 5: explain to them, well, this is why you need that.
Speaker 5: This is why you need some people that look like
Speaker 5: you in the community that earn more money so that
Speaker 5: it can be attractive for Starbucks or it can be
Speaker 5: attractive for the grocery store to come back. So a
Speaker 5: lot of it's just open communication, but there is no
Speaker 5: cookie cutter answer.
Speaker 6: Man.
Speaker 5: You're never going to get everybody on board, unfortunately, But
Speaker 5: I mean, you know, you can kind of turn the
Speaker 5: tide a little bit by doing some of those things.
Speaker 6: True, true, I appreciate that. Guys, thank you very much.
Speaker 2: We appreciate you. Oh, here we go, my guys here
Speaker 2: Author Paul Rose King, Arthur, you've been unmuted. Peace peace,
Speaker 2: what's good fellas? What's going on?
Speaker 5: Bro? Slow motion? How y'a doing?
Speaker 2: Yeah? We're good man, no doubt A. Chris Man definitely
Speaker 2: a big fan.
Speaker 18: I'm actually an investor in the in the Lions Avenue project.
Speaker 5: Love it. I love it. Yeah.
Speaker 18: When I actually right right before right as COVID hit
Speaker 18: I got, I got into the project and I joined EYL.
Speaker 18: That was kind of how I split the bread up
Speaker 18: for it solders. Definitely looking forward. Definitely a big fan.
Speaker 18: Been following the mod project as well. Congrats on that.
Speaker 18: As we talk about building the community. One of the
Speaker 18: things that you mentioned, uh, with the with the project
Speaker 18: that you said, you know, most none of those houses
Speaker 18: were like Section eight houses and stuff like that. Those
Speaker 18: are all pretty much working class individuals. That being said,
Speaker 18: Section eight is like one of the largest subsidies our
Speaker 18: community gets, Like literally it's about eight billion dollars a year,
Speaker 18: and the majority of that money goes to black women
Speaker 18: as we know who are generally that had a household
Speaker 18: for those communities, And so as you're building your plans
Speaker 18: and as you know, you speak on others and how
Speaker 18: they should expand how do you view or what ways
Speaker 18: do you think that we have to actually include that
Speaker 18: so we don't walk away literally from eight billion dollars
Speaker 18: a year that now is going to other people who
Speaker 18: own that affordable housing to a certain degree, because our
Speaker 18: own people are scared or don't want to deal with
Speaker 18: those Section eight housing.
Speaker 5: Yeah. So yeah, let me point out the reason why
Speaker 5: I pointed that out earlier is for the opposite reason, right,
Speaker 5: because we all we automatically assume everybody in these neighborhoods
Speaker 5: is all strictly on government assistance. But there are some
Speaker 5: people that are just hardworking that you know, all fixed incomes. Now,
Speaker 5: as far as the you know, the single women especially
Speaker 5: or anybody that's on Section eight, I think that with
Speaker 5: the right landlords in place, and I think it can
Speaker 5: actually be a better system because you know, if we
Speaker 5: are the ones controlling the real estate and own the
Speaker 5: real estate, and those are our tenants, then we'll probably
Speaker 5: look out for them a little bit more than somebody else.
Speaker 5: That's you know, living across the country or living in
Speaker 5: another neighborhood that doesn't really care about the community. But
Speaker 5: most importantly, when you talk about a way to leverage
Speaker 5: home ownership that we don't really talk about those those
Speaker 5: vouchers can be used for mortgage payments just like they
Speaker 5: can be used for regularly. So educating more of the
Speaker 5: people in our community about how to get their credit
Speaker 5: together to get into a first time home buyers program
Speaker 5: and get a down payment assistance grant and then convert
Speaker 5: that same voucher over to something that can help pay
Speaker 5: the mortgage, we can create more home ownership in the
Speaker 5: community using that same tool.
Speaker 18: So so so in a way, for those who are
Speaker 18: looking how to replicate what you're doing on the smaller scale,
Speaker 18: one of the things they can do is look to
Speaker 18: take advantage of those government programs in using.
Speaker 5: Their own home buying i e.
Speaker 18: Matt's Home Biased home Buyers or you know, using those
Speaker 18: types of things in their own personal lives to kind
Speaker 18: of replicate on a micro scale what you're doing at
Speaker 18: the macro level.
Speaker 5: Definitely, definitely, and that's actually a way for people that
Speaker 5: have existing rental portfolios if they want to get out
Speaker 5: of them. A lot of people are converted over to
Speaker 5: owner finance, so so basically the same tenants stays in
Speaker 5: the property, but now they're they are buying the property,
Speaker 5: so now they're responsible for the insurance and the taxes
Speaker 5: and all those things. So if you have a Section
Speaker 5: eight tenant and it's a house that you don't want
Speaker 5: to get, you know, you may not want to keep
Speaker 5: in your portfolio, you could actually sell it to them. Yeah,
Speaker 5: and create a homeowner out of one of your tenants,
Speaker 5: especially they've been loyal, long term tenants.
Speaker 2: You know.
Speaker 5: It's it's it's a million ways to uh to make
Speaker 5: that program benefit us more. I appreciate it, brother.
Speaker 3: Thank you author. On one last I just want to
Speaker 3: ask you a question because you're one of our most
Speaker 3: prestigious students at euy L University and you always tap
Speaker 3: into every single thing we got going. Uh, how how
Speaker 3: has your experience been with Eyo University.
Speaker 18: It's been It's been fabulous, man, it's been fabulous. I listen,
Speaker 18: I went to a prestigious all boys prep school in
Speaker 18: high school, Old Farms, I could have went to all
Speaker 18: most of them in the ivy leagues, I end up
Speaker 18: going to George Washington University.
Speaker 3: That's very prestigious school.
Speaker 5: Absolutely, you know what I mean.
Speaker 18: However, in terms of the actual practical knowledge that I
Speaker 18: learned outside of me just working and doing the things
Speaker 18: that I did in my career, I would say this
Speaker 18: has definitely been one of the most comprehensive UH education
Speaker 18: platforms that I've ever been a part of.
Speaker 5: You know what I mean.
Speaker 18: You guys brought me to Chris, you guys brought me
Speaker 18: to matt Uh. You brought me to Beyond, you know
Speaker 18: what I mean. And so in terms of actually executing
Speaker 18: and getting things done, there's there's there's nothing better, you
Speaker 18: know what I mean. I was an econ major, I
Speaker 18: was a finance major, all of that stuff, and it
Speaker 18: doesn't come close to the practical knowledge all of that stuff.
Speaker 5: That they're gonna teach you in the schools. You can go
Speaker 5: google that.
Speaker 18: But this, now, this, get it done, this, this, this, this,
Speaker 18: uh you know, get to sell of financing and transfer
Speaker 18: that into into a private investment for the IRA and
Speaker 18: then transfer that.
Speaker 5: And getting it done.
Speaker 18: They're not gonna teach you that at Harvard and nowhere
Speaker 18: else of it. They're gonna teach you the exact opposite
Speaker 18: of what Chris is teaching. They're gonna teach you how
Speaker 18: to ultimately rape your community. Chris is gonna teach you
Speaker 18: how to get it done and get the bag. So
Speaker 18: I appreciate you fellas for it. I always participate. I'll
Speaker 18: always be highly and you know, I appreciate you guys
Speaker 18: for always letting me.
Speaker 2: Rock, appreciating author, appreciate that most prestigious.
Speaker 3: Often man's extremely extremely intelligent. God Man Market used to
Speaker 3: be a market maker on Wall Street.
Speaker 2: That's our guy. This is another one of our of
Speaker 2: our dudes. Man Park, what's going on? I'm mute yourself.
Speaker 2: What's going on Sunday?
Speaker 5: Bro Man, I was struggling with.
Speaker 19: Now No, I'm making sure I'm coming back out like
Speaker 19: I ain't never missed another episode ever. Yeah, no, thanks
Speaker 19: for all the information, Chris. I just had just one,
Speaker 19: you know, short question. Throughout the whole process that you've done,
Speaker 19: what would you think is like the hardest step that
Speaker 19: you had to take, like before you got to where.
Speaker 3: You're at right now?
Speaker 5: Man, I would say every every step has its own challenges.
Speaker 5: I would say the most the most difficult things I
Speaker 5: had going was when I was trying to figure things
Speaker 5: out on my own and not find somebody that was
Speaker 5: an expert at what I was trying to get done
Speaker 5: and putting them in place to do something to help
Speaker 5: me out. So, I mean, that's really been the biggest thing, man.
Speaker 5: I would say with the new construction project, like the
Speaker 5: roadblock with the infrastructure was pretty tough, and having to
Speaker 5: negotiate with the city to figure out, you know, a
Speaker 5: solution for that. And let me think on the on
Speaker 5: the crowdfund side, I think that the hardest part was
Speaker 5: getting the deal done on the front and just negotiating
Speaker 5: with the sellers and making them understand, you know, why
Speaker 5: I needed them to come down on price and why
Speaker 5: I needed them to sell their finance to me. But yeah,
Speaker 5: I mean every everything, every deal you do, you're gonna
Speaker 5: have a different challenge, So just be prepared for that.
Speaker 2: Appreciate your pop.
Speaker 3: Shout out Chicago man, Chris, can we get like ten
Speaker 3: more minutes of your time? Yeah?
Speaker 5: Yeah.
Speaker 3: Somebody on YouTube shot Yes to real Estate. They sent
Speaker 3: a couple of days. You read that message, No, I know,
Speaker 3: Andre Yes, Okay, okay, yes, it is Andre, Yes to
Speaker 3: real Estate. We're breaking ground on our four townhousing fifth
Speaker 3: Ward two months with three blocks from you.
Speaker 5: So yeah, yeah, you're taking over the whole.
Speaker 2: That's taking over the whole neighborhood.
Speaker 5: I love it and I love it definitely, definitely.
Speaker 2: Well, listen, what's going on? You've been unmuted?
Speaker 3: Hi?
Speaker 20: How are you guys?
Speaker 2: Everything's good.
Speaker 20: Thank you so much for having this open forum. Has
Speaker 20: been very informative. I got on a.
Speaker 6: Little late, but I will rewatch.
Speaker 20: I did want to ask Christopher a question about buying
Speaker 20: back Harlem and what do you suggest. I'm born and
Speaker 20: raised here. I've been approached with a lot of negativity
Speaker 20: and charm in terms of trying to open up a business. However,
Speaker 20: a lot of businesses have closed due to COVID, and
Speaker 20: I just kind of wanted to know a way on
Speaker 20: how to approach that.
Speaker 5: Wow, that's a very There's a lot of variables in
Speaker 5: that equation, right, because, number one, the type of business
Speaker 5: you're gonna want to start. You know, when you see
Speaker 5: a bunch of businesses closing, don't think it's for no reason.
Speaker 5: You know they're closing because they tried to stay open
Speaker 5: and they couldn't. Now, I mean, of course, that is
Speaker 5: going to open a new way of opportunity on the backside.
Speaker 5: But I'm not really familiar with the Harlem market or
Speaker 5: like the price points there, so I wouldn't want to
Speaker 5: give you any bad advice. It's not cut her blanket
Speaker 5: across the board, so I would say, maybe do what
Speaker 5: I would do in any situation is find local experts
Speaker 5: that are doing what you're trying to do. Maybe talk
Speaker 5: to a commercial broker that has clients that have bought
Speaker 5: businesses or rented spaces to start businesses and have closed
Speaker 5: those businesses and find out what challenges their clients had
Speaker 5: and then figure out, you know, your next move. So
Speaker 5: uh yeah, don't don't go into it blindly, don't don't
Speaker 5: go into it trying to figure it out your own
Speaker 5: for sure.
Speaker 3: I'm gonna be honest. And it's like, you know, we
Speaker 3: live in New York. We've been in New York our
Speaker 3: entire lives. Our whole family has been in New York
Speaker 3: their entire lives pretty much. And you know, I was
Speaker 3: always really pro New York. I still am, you know, York,
Speaker 3: but the more I travel, I've been traveling a lot lately, and.
Speaker 2: Don't do it. Don't do it, don't do it, don't
Speaker 2: do it. I ain't gonna let do it.
Speaker 3: Don't do it now. The one thing that Donald Trump
Speaker 3: said is like, I don't know if the city's ever
Speaker 3: really gonna fully recover. And it's so much regulation, it's
Speaker 3: so much red tape, it's so much hassle. The prices
Speaker 3: are through the roof in every neighborhood. It's just really,
Speaker 3: you know, for me, I'm like, you go to places
Speaker 3: like Atlanta, you just travel around and it's I don't know, man,
Speaker 3: New York City is it's vastly becoming overrated. It hurts
Speaker 3: my heart to say that, really hurts my heart to
Speaker 3: say that. But it's it's it's I think it's I
Speaker 3: think it's true.
Speaker 2: I appreciate that you said that. It's it's it's it's
Speaker 2: challenging times for our city, man. But hopefully we'll we're
Speaker 2: covering hopefully. Maybe not. I'm just I'm just optimistic. I
Speaker 2: wouln't be optimistic about it.
Speaker 3: Uh, head to Atlanta.
Speaker 2: Jerome, Jerome, I mute yourself. You've been unmuted. What's going on?
Speaker 5: Yo?
Speaker 12: What up?
Speaker 5: What up? What up?
Speaker 13: Man?
Speaker 2: What's going on?
Speaker 14: I guess my question is branched off of some of
Speaker 14: the things that have been answered already. But Chris you
Speaker 14: talked about earlier in your slides. Well, first of all,
Speaker 14: you know, buying back the block you always when you
Speaker 14: come from you know, lower income black neighborhoods, that's always
Speaker 14: the dream you and your homeboys like, Yo, you know
Speaker 14: what I mean, I'm a buy back to block on
Speaker 14: by this. Well, I guess in my case, I got
Speaker 14: I got some of my homeboys.
Speaker 21: We all kind of got a financial background of some sorts.
Speaker 5: But we're new to this.
Speaker 14: And I know you said that don't all come in
Speaker 14: as rookies as novice. So I guess my question is
Speaker 14: where would you start to find someone who understands these
Speaker 14: contracts where you like, yo, you know what I mean,
Speaker 14: I'm a I'm a put down this amount, but you
Speaker 14: can become a partner or you know, like I'm a
Speaker 14: seller finance.
Speaker 21: So how do I find outside of just networking?
Speaker 14: Because I know Troy and Rashada was like they found
Speaker 14: somebody in Cleveland that they can trust.
Speaker 21: So one is trust and two.
Speaker 5: Do you go look?
Speaker 14: I mean, do you look for a professional? I guess
Speaker 14: this is a big question, but do you look for
Speaker 14: a professional? How do you find somebody to join your
Speaker 14: group that not only you trust, but has that knowledge
Speaker 14: of not just book knowledge, but knowledge. Just say, all right,
Speaker 14: when this happens, this, you know this, this like that's
Speaker 14: I guess that's my question, if that makes any sense.
Speaker 5: So where are you located?
Speaker 21: So I'm located in Virginia right now.
Speaker 14: I live in northern Virginia, but I'm from southern Virginia, Hampton,
Speaker 14: like in the Hampton University area, if you know, if
Speaker 14: you're familiar with that, Norfolk State, some HBCUs in the area.
Speaker 21: But it's a lot of areas black areas Newport News, Norfolk, Portsmouth.
Speaker 14: That are on the verge of I would say gentrification,
Speaker 14: but they not quite there yet.
Speaker 21: And we're trying to get active in the market.
Speaker 14: But you know, we don't have that that that that game,
Speaker 14: that real game, not just open up a book game.
Speaker 14: But like you said, you you know all the ins
Speaker 14: and outs, and we're just trying to look for something
Speaker 14: like that.
Speaker 13: Man.
Speaker 5: So I would say, once again, just trying to find
Speaker 5: local mentors and not necessarily, not necessarily somebody to invest
Speaker 5: with you, but maybe you have to just pay somebody
Speaker 5: for the knowledge for the time, you know, just to
Speaker 5: get into it. But you know, I got a platform
Speaker 5: called learn from Chris dot com. You can go in
Speaker 5: there and they'll give you a lot of the basic
Speaker 5: information and then that'll put you in a position if
Speaker 5: you want to go talk to somebody locally, because sometimes
Speaker 5: active investors don't want to deal with people that they
Speaker 5: can tell are completely green, you know, So if you
Speaker 5: can go in there and get yourself acclimated some things.
Speaker 5: Go to YouTube. There's a lot of stuff on there,
Speaker 5: and I'm not trying to be cliche, but I'm saying, like,
Speaker 5: try to get yourself as educated as possible so that
Speaker 5: when you get in front of these people you can
Speaker 5: have an intelligent conversation with them about what you're trying
Speaker 5: to do. And man, Virginia has a lot a lot
Speaker 5: of investors. I mean, you could between Instagram, I know,
Speaker 5: I know several between Instagram and Facebook that might be
Speaker 5: able to help you. You can also look up local meetups,
Speaker 5: you know, just type in whatever nearest big city to
Speaker 5: you and investment meetups and that'll bring you to some
Speaker 5: some groups that may have somebody's willing to work with you.
Speaker 5: But man, networking between social media platforms like Earn your
Speaker 5: Leisure and and uh yeah, just the Facebook groups. Man,
Speaker 5: I'm pretty sure you can find somebody if if you
Speaker 5: all looking.
Speaker 3: And like I said, we're gonna we're going through that
Speaker 3: on our Facebook.
Speaker 2: Yeah, Chris, I'm gonna take a quote and Jerome you
Speaker 2: can you can use this quote and apply it.
Speaker 3: Man.
Speaker 2: I took this right from your page. I was like,
Speaker 2: this is dope. You said there's three things you need
Speaker 2: to be successful. The knowledge, the opportunity, the money. One
Speaker 2: you can control. The two y'all gotta find that's it.
Speaker 2: So take that with you, Jerome, Knowledge, opportunity, money one
Speaker 2: you control too. You gotta go find my man, appreciate you.
Speaker 3: Sure when you see me running through Atlanta in La
Speaker 3: Los Angeles, Houston, Texas and these things La too. It's
Speaker 3: a great cloud over New York right now.
Speaker 2: I've seen b Rude put your Headlanta Headquarters all the
Speaker 2: way e y.
Speaker 3: Lanta Headquarters is already it's already up and running. But
Speaker 3: we already said that we're re ramping it. We Yeah,
Speaker 3: we got be Rue. We got to meet up somewhere.
Speaker 5: Man.
Speaker 2: I know you in DC, but when we're Atlanta, you
Speaker 2: gotta come come check us out.
Speaker 3: Shout out to d C. Shout out to PG County. Shot.
Speaker 3: The earth is big though. That's why I know, shout
Speaker 3: out to New York. It's New York forever. But I
Speaker 3: just say that halfway joking, only halfway. But the earth
Speaker 3: is big though. We can't just be stuck in our neighborhood.
Speaker 3: It's just like if something is too out of expensive
Speaker 3: or something is just you know, never be afraid to expand,
Speaker 3: like you know, this is this is this is a
Speaker 3: large earth that we live in, even out of the country,
Speaker 3: Like you know what I mean, Like there's no there's
Speaker 3: no limits to anything that we do in life. And
Speaker 3: we put we put geographic limits on ourselves because where
Speaker 3: we're from, the neighborhoods that we grew up in in
Speaker 3: our family. But you never know, you might be pleasantly
Speaker 3: surprised when you start to travel and you see different
Speaker 3: areas and it's different opportunities, and it's different cultures and
Speaker 3: different people and they have different dialects. So you know, me,
Speaker 3: I love to travel Troy, Troy gonna be here forever.
Speaker 2: But I love York. But our wise man told me.
Speaker 2: This man he said this to us the other day.
Speaker 2: He said, go where you're celebrated.
Speaker 3: That's a fact too.
Speaker 2: Go where you're celebrated.
Speaker 14: Man.
Speaker 3: I was like, oh, well, we're always gonna be celebrated
Speaker 3: in New York, Brooklyn.
Speaker 2: Shot you celebrate. I was like, that's powerful. Natalie, what's up?
Speaker 2: I'm yourself. You've been unmuted. Has been on point today
Speaker 2: on Natalie. Right when I say that, you know how
Speaker 2: his work ain't no frish breaks. So Natalie, we gotta
Speaker 2: move on. We gotta move on. Uh, let's go to Samantha. Samantha,
Speaker 2: we I'm muting you. I'mute yourself. Hello, there we go.
Speaker 2: Let's keep this thing rolling. Samantha, thank you.
Speaker 4: I got thig so good evening, everyone, Good evening. Shout
Speaker 4: out to the earners and my cousins that are listening.
Speaker 4: I sent this to them. We have started our own
Speaker 4: investment group. Our overall goal, or one of our overall goals,
Speaker 4: would be to do this in Jamaica because our families
Speaker 4: from there, our parents are from Saint Anne, and but
Speaker 4: you know we have to start small.
Speaker 2: Yeah yeah, I'm with that. Shout out to Jamaica.
Speaker 4: So my question is how did you structure the business?
Speaker 4: Did you do it on your own? And then do
Speaker 4: like a joint venture with other people or did you
Speaker 4: all create your own business?
Speaker 5: How did that work? Yeah, that's a great question. So
Speaker 5: each project I do has its own individual entity, so
Speaker 5: its own individual LLC, and that LLC owns the project,
Speaker 5: and so there's several ways you can structure from there.
Speaker 5: It depends on who is playing what role. So if
Speaker 5: you're bringing on other investors, some of them may want
Speaker 5: to be a member of your LLC, some of them
Speaker 5: want to joint venture where your two LLCs work together
Speaker 5: some of you. Some of them may want if they
Speaker 5: just want to be passive investors, you may have to
Speaker 5: structure something where they are in a limited partnership with you,
Speaker 5: where you are the general partner that makes decisions and
Speaker 5: they are like a passive limited partner that may get
Speaker 5: the first returns out of the deal. So it varies greatly.
Speaker 5: It really depends on the scope of the project you're
Speaker 5: trying to do. I mean, there's nothing wrong with all
Speaker 5: y'all just putting together and doing one LLC if that's
Speaker 5: what you want for the first project. Of course, this
Speaker 5: is not legal advice. You always just see legal counsel.
Speaker 5: But yeah, so, like I said, each project I do
Speaker 5: is different structure a little different?
Speaker 3: No, that was that was That was a great question, Samantha.
Speaker 2: Appreciate you.
Speaker 3: Let's go to one more. Let's go to one more.
Speaker 2: And I see that Shannon is telling you the contact her.
Speaker 2: So here, Shannon up, she's in the chat here, Shannon.
Speaker 2: Shout out to Shannon.
Speaker 3: Let's get one more.
Speaker 2: Let's see. Let's see this is a we haven't seen
Speaker 2: this name before. We haven't seen this name before. Ashley.
Speaker 2: We're coming to you, Ashley, what's going on? I'm mute yourself.
Speaker 2: You've been unmuted?
Speaker 11: What okay?
Speaker 8: Sorry, I'm so excited because that part.
Speaker 3: Sorry.
Speaker 8: I appreciate y'all for allowing me to speak and ask questions. Chris,
Speaker 8: I want to thank you for what you're doing for
Speaker 8: the city of Houston. I'm originally from Houston. My dad
Speaker 8: was born and raised in fifth Ward, Great a really
Speaker 8: special place in my heart. My major was urban planning.
Speaker 8: I went to Brown University. I'm a little nervous, I'm sorry.
Speaker 8: With to Brown University, studied urban planning, came back home
Speaker 8: and like, man, I see this happening, Like I could
Speaker 8: tell all the things that you've been talking about.
Speaker 11: When you see stuff like infrastructure coming to.
Speaker 8: A place, like you said, sidewalks even down to bus
Speaker 8: buses or light rails coming into a community that were
Speaker 8: never there before.
Speaker 11: That's another marker.
Speaker 8: And I just started seeing this like, man, when are
Speaker 8: we gonna all get on the same page? And to
Speaker 8: see you do it? I moved away from Houston. Unfortunately
Speaker 8: I didn't have the opportunity to invest. I mean I
Speaker 8: will now and I have the tools and I've been
Speaker 8: learning these last few years. But I left Houston because
Speaker 8: a lot of people weren't willing to give me the
Speaker 8: opportunity to work in urban planning and real estate development
Speaker 8: because I didn't have the experience. I just had the knowledge,
Speaker 8: and I came to LA and I come back to
Speaker 8: Houston and I just see it, like every month I've
Speaker 8: been coming back for the last three months, and like
Speaker 8: it's happening. I've been telling people and you know, Paul
Speaker 8: revereing it like, hey, gri grification is coming, Like you know,
Speaker 8: these people are moving in here with you know, their privilege,
Speaker 8: but they don't have you know, the roots here.
Speaker 11: They're there for the capitalist opportunities.
Speaker 8: And my one reason why I raised my hand, had
Speaker 8: no idea they were gonna call me, but I wanted
Speaker 8: to thank you personally, even if it's via zoom. I
Speaker 8: appreciate what you're doing and sparking even the thought because unfortunately,
Speaker 8: the reason why I moved from Houston too is a
Speaker 8: lot of people were so driven on being corporate, corporate,
Speaker 8: corporate only and we see something like COVID happening where
Speaker 8: the rug is pulled out from everybody and you know,
Speaker 8: either you had that mindset of pivoting or now you're
Speaker 8: fumbling to get there. And the platform like ey L
Speaker 8: is helping, you know, people all over the globe to
Speaker 8: really learn how to pivot.
Speaker 11: And I appreciate you guys.
Speaker 8: I'm I'm an earn I've been an earnest since March,
Speaker 8: and I've been telling people like, hey, you you need
Speaker 8: to get with I mean, I appreciate y'all putting it
Speaker 8: on YouTube, but getting in the community is totally different.
Speaker 8: Like you mentioned, when you talk to a stranger and
Speaker 8: they're believing in you and and giving you resources, you
Speaker 8: have to be able to tap into that.
Speaker 11: So my haning what was due. I mean, luckily I.
Speaker 8: Did it early, so you know, you always reward the
Speaker 8: people that adopt early, and I appreciate you, guys, but
Speaker 8: you know it's still valuable at the price that it
Speaker 8: is now. Chris, I will ask as I'll get to
Speaker 8: my question. I'm sorry for I'm trying to I'm trying
Speaker 8: to get thank y'all. But being in another city, do
Speaker 8: you think it's feasible? I because I have some of
Speaker 8: the knowledge I have, I see it and this is
Speaker 8: happening in every city in the country, you guys, So
Speaker 8: wherever you are, you you can tap in. But do
Speaker 8: you feel it's possible to be an investor from long
Speaker 8: distance or.
Speaker 11: Do you feel like you need to be in that
Speaker 11: specific city.
Speaker 8: I mean, la Is prices are going down because so
Speaker 8: many people moved, so the demand is not there. But
Speaker 8: you know, say, for instance like a Arizona or Nevada.
Speaker 11: I don't live.
Speaker 8: There, but I can tell that those cities, the cities there,
Speaker 8: are gonna gonna be moving into a redevelopment phase soon.
Speaker 11: So what is your advice on that.
Speaker 5: You can definitely invest anywhere in the country. I mean,
Speaker 5: it's all about having a team in place, right. It's
Speaker 5: no different than investing in a stock. But you don't
Speaker 5: know where the headquarters is. You don't know where the
Speaker 5: CEO is, you don't know where the factory is. You
Speaker 5: just have to have the right systems and the right
Speaker 5: team around you. So whatever city you're going to, you're
Speaker 5: gonna need a good realtor, a good property manager, a
Speaker 5: good contractor, and somebody that can manage them, you know,
Speaker 5: and or you have to have good open communication with them,
Speaker 5: or you know, local investors that you partner with. That's
Speaker 5: probably the easiest way to get into a new market
Speaker 5: instead of trying to do it on your own. So yeah,
Speaker 5: it's definitely possible. I know, I know some friends that
Speaker 5: only invest out of town. They don't even invest in
Speaker 5: the city they live in. So it's definitely practical.
Speaker 2: Appreciate you.
Speaker 3: Appreciate your thank you, ladies and gentlemen. Chris. They said
Speaker 3: that you look tired. Man. Hustlers don't sleep.
Speaker 2: Man, I'm telling you. They they say, Troy, you suspended
Speaker 2: all guidelines to man. I gotta get used to Wednesday.
Speaker 3: Now, Chris, Man, I really really, really really appreciate it.
Speaker 3: We're going to go into some more stuff with Chris,
Speaker 3: but before before we wrap, I want to give Chris
Speaker 3: the last word. But before we finish, once again, if
Speaker 3: anybody has just joined at this point in time. This
Speaker 3: was just a you know, open house of what we
Speaker 3: do once a month for Eyo University. If you're interested
Speaker 3: in joining Eyo University. We have a Facebook group, we
Speaker 3: have a book club, movie club, We do bi weekly
Speaker 3: real estate called the Mortgage Guy. We do. We do
Speaker 3: these type of classes every single week, every Wednesday. And
Speaker 3: there's archives, like over seventy five archive classes. So as
Speaker 3: soon as you join, you have access to all of
Speaker 3: that stuff and everything from disability insurance to how to
Speaker 3: buy a car, to host the real estate wholesaling, everything.
Speaker 2: New orientation for new earners, accountability, try it.
Speaker 3: What date is the orientation?
Speaker 2: There's going to be November fourteenth. If I'm not mistaken,
Speaker 2: I could be ye, November fourteen.
Speaker 3: November fourteenth at one o'clock. We have November twenty first
Speaker 3: we have orientation. We treating this like it's a real university,
Speaker 3: so like you know when you go to school and
Speaker 3: you have freshmen orientation. So you know, we have a
Speaker 3: lot of different spots. We got we got our Facebook group,
Speaker 3: we got the website, so it might be kind of
Speaker 3: hard for people to navigate. So we got orientation on
Speaker 3: the twenty first, and yeah, man, this is this is
Speaker 3: definitely gonna be the biggest, the biggest educational platform in existence.
Speaker 3: And twenty four hours and twenty four hours, the price
Speaker 3: goes up. So if you're interested in joining, the link
Speaker 3: is in only the link, the only discount link is
Speaker 3: in YouTube because uh, we didn't want to do a
Speaker 3: cold because there's issues with the cold. So just hit
Speaker 3: the hit the link in YouTube. It's pinned. I'll put
Speaker 3: it in the comments section again. And yeah, man, if
Speaker 3: you're interested in joining, it's only up from here. It's
Speaker 3: only up from here. But Chris, I want to give
Speaker 3: you the final word because I mean, we're going to
Speaker 3: be doing some more stuff together. I don't know if
Speaker 3: you're ready to talk about that or not yet.
Speaker 5: But yout it.
Speaker 3: You know, yeah, e y L E y L Podcast Network.
Speaker 3: You obviously know that. You know, the people know we
Speaker 3: have a strong track record with our our show, our
Speaker 3: podcast and market Mondays. We said earlier, like in March,
Speaker 3: like we want to we want to work with other
Speaker 3: creatives and other entrepreneurs and different people to kind of,
Speaker 3: you know, help them out as far as their journey
Speaker 3: in podcasting and market Mondays was our first experiment and
Speaker 3: that was wildly successful experiment. So now we we we
Speaker 3: got a long list of other people that we're gonna
Speaker 3: bring on the label. And Chris, Chris hit me up, man,
Speaker 3: so I think, yeah, we're gonna we're gonna work on
Speaker 3: that podcast.
Speaker 4: Man.
Speaker 5: It's long overdue for me. Man, I just didn't have
Speaker 5: the capacity to do it on my own. So it's
Speaker 5: an honor to partner with the number one.
Speaker 3: And and and this just just this just goes to show, like,
Speaker 3: you know, we're working together. You know young black entrepreneurs.
Speaker 3: Christ is in real estate, we're in the media space,
Speaker 3: and he recognized that we can we can bring some
Speaker 3: value to him, he can bring some value to us.
Speaker 3: So instead of us working apart, we're much stronger if
Speaker 3: if we come together. And if you know, all of
Speaker 3: these big corporations can have podcast networks. I can't. Why
Speaker 3: can't you, y, I'll have a podcast network and all
Speaker 3: of the relationships that we built and build it out
Speaker 3: from there. So yeah, you heard it first. You heard
Speaker 3: it first, ladies and gentlemen, this.
Speaker 2: Is breaking news alert. Look, look we got so we
Speaker 2: got a couple more breaking news letters that we're going
Speaker 2: We ain't ready to announce him. Yeah, but trust me,
Speaker 2: the label growing.
Speaker 3: Oh no, it's gonna be like Roeller. It's gonna be
Speaker 3: like Rock in the early label growing.
Speaker 2: Yeah, expeditionous.
Speaker 3: But how can they? How can they? Your crowdfund? You
Speaker 3: said your crowdfund is full, but talk about that as
Speaker 3: far as like, are you going to open up a
Speaker 3: new crowdfund? What's your plans as far as your development, like,
Speaker 3: let the people know how they can follow you, all
Speaker 3: the information that you you know you have to give
Speaker 3: to the people. Yeah.
Speaker 5: Man, so right now, I'm I'm actively looked at a
Speaker 5: few different projects that I may use for the next crowdfund.
Speaker 5: I have not figured it out yet, but as soon
Speaker 5: as I do, everybody will know and Euyo probably the
Speaker 5: first ones to know about it. Yeah, so just stay
Speaker 5: tuned for that. I can technically, you're going to do
Speaker 5: one a year if if you hit the max. So uh,
Speaker 5: actually in the November, I'll be able to start putting
Speaker 5: another one together. Yeah. So if you want to follow me,
Speaker 5: just understand investor on Instagram. I have a YouTube channel.
Speaker 5: Like I said, if you want to learn more about
Speaker 5: real estate investing specifically, you can go to learn from
Speaker 5: Chris dot Com I have actually have a free guide
Speaker 5: on five strategies where you can invest passively. So for
Speaker 5: the busy people that don't have time and don't want
Speaker 5: to be active wholesalers or flippers, I got five strategies
Speaker 5: that I can that I'm showing you how you can
Speaker 5: truly invest passively and still make money. Yeah. So, and
Speaker 5: that that also leads into a membership group where I'm
Speaker 5: probably one of the only instructors online that has courses
Speaker 5: that's actually talking about gentrification, talking about crowdfunding and all
Speaker 5: those things inside the platform as well. So, yeah, man,
Speaker 5: learn from Chris dot Com investor on Instagram. That's pretty
Speaker 5: much it.
Speaker 3: There you have it, But investor is underscore. I n
Speaker 3: V as t R. Yeah.
Speaker 5: Yeah, the only vowel is the I.
Speaker 13: Are.
Speaker 5: You Just go to the earn your Leisure page and
Speaker 5: click click my Yeah.
Speaker 3: We put his Instagram in the description of this video
Speaker 3: as well. The fact you definitely should follow Chris on
Speaker 3: Instagram a lot a lot of gyms.
Speaker 2: Yeah legend. That's why I said. We don't throw around
Speaker 2: the word legend a lot, but this guy definitely is
Speaker 2: one man. So shout out to Houston to the third World,
Speaker 2: third Ward, fifth Ward. Shout to Beyonce, I you parking
Speaker 2: joint drove tomorrow too, so be on on Friday. Look
Speaker 2: on the lookout.
Speaker 3: Shout shout of Dallas, Texas too. I was out there
Speaker 3: for the first time, my first time in Dallas and
Speaker 3: that's a dope city too. Now we just got to
Speaker 3: go to Austin. We got going to Austin, Texas. But
Speaker 3: shout out to the whole state of Texas. Don't mess
Speaker 3: with Texas, man. Everything is is what is it?
Speaker 5: Everything Texas in Texas? There you go.
Speaker 3: Yeah, you know they're having a tough time right now
Speaker 3: with the sports teams. But so good, right, so good man.
Speaker 3: But now, Chris Brother, I appreciate you, love, I appreciate you. Yeah,
Speaker 3: So stay safe. Man, will be in contact, and everybody
Speaker 3: thank you for joining us. This video will be saved
Speaker 3: on YouTube, so you can go back and watch it
Speaker 3: if you if you missed a part of it, and
Speaker 3: tell everybody about Chris, and tell everybody about all of
Speaker 3: the great work that he's doing. And hopefully you got
Speaker 3: some information that you can actually use and replicate in
Speaker 3: your part of the world. That's what this is all about.
Speaker 3: Each one teach one. So all right you have let's
Speaker 3: go say what's see you next week?
Speaker 15: All right?
Speaker 2: Shall yo? Go call somebody? Man, go call somebody. Reach out.
Speaker 2: One test can change a lifetime or change somebody's life.
Speaker 2: One call can change somebody's life. Make sure y'all do that.
Speaker 2: Go to your contact list now. Just reach out to
Speaker 2: let somebody know you thinking about them. All right, peace,
Speaker 2: We love y'all. We out Chris love.
Speaker 5: Bro All right, I got twenty four hours.
Speaker 2: He ain't playing, We ain't playing. Don't wait, don't hesitate,
Speaker 2: don't play it.
Speaker 9: So you just realized your business needed to hire someone yesterday.
Speaker 9: How can you find amazing candidates fast? Easy? Just use
Speaker 9: Indeed stop struggling to get your job post seen on
Speaker 9: other job sites. With Indeed sponsored jobs, your post jumps
Speaker 9: to the top of the page for your relevant candidates,
Speaker 9: so you can reach the people you want faster. According
Speaker 9: to Indeed data, sponsored jobs posted directly on Indeed have
Speaker 9: forty five percent more applications than non sponsored jobs. Don't
Speaker 9: wait any longer, speed up your hiring right now with Indeed,
Speaker 9: and listeners of this show will get a seventy five
Speaker 9: dollars sponsored job credit to get your jobs, more visibility
Speaker 9: at indeed dot com slash pod katz thirteen. Just go
Speaker 9: to indeed dot com slash pod katz thirteen right now
Speaker 9: and support our show by saying you heard about Indeed
Speaker 9: on this podcast. Terms and conditions apply. Hiring Indeed is
Speaker 9: all you need