WEBVTT - The Biggest Mistakes People Make When Building a Home 0:00:00.320 --> 0:00:02.880 Oh with that before you leave, should you buy a 0:00:02.920 --> 0:00:05.720 home and renovate it or should you build from ground up? 0:00:06.800 --> 0:00:08.240 You're a shot panel right now. 0:00:08.600 --> 0:00:11.360 Well, we all got a similar experience because we all 0:00:11.520 --> 0:00:12.160 built the home. 0:00:13.119 --> 0:00:16.680 Yeah, So I personally would say, if you want to 0:00:16.720 --> 0:00:21.639 make the maximum margin on the deal, build right. That's 0:00:21.640 --> 0:00:23.920 going to give you the maximum return. But you need 0:00:23.960 --> 0:00:24.880 to have the right team. 0:00:25.560 --> 0:00:25.720 Right. 0:00:26.640 --> 0:00:29.840 That's strictly for live men, not for freshmen. If you've 0:00:29.880 --> 0:00:34.239 never done it before, stick to rehabs. It's quicker, it's easier, 0:00:34.280 --> 0:00:36.800 you can learn a lot. You can still make good money. 0:00:37.680 --> 0:00:39.800 But I don't think you can go wrong with either all. 0:00:39.880 --> 0:00:42.080 What's your thoughts on that, Troy shot. 0:00:42.680 --> 0:00:44.559 I think the most important thing you said was have 0:00:44.640 --> 0:00:49.400 the right team, because without them, it's going to be 0:00:49.520 --> 0:00:50.520 even more delayed. 0:00:50.600 --> 0:00:53.840 There's going to be cash grabs. It is cash intensive building. 0:00:54.200 --> 0:00:55.680 I think the other thing you need to do is 0:00:55.720 --> 0:00:59.240 study the municipality that you're building that house in to 0:00:59.320 --> 0:01:03.240 know obviously from a legal standpoint, but from a permit 0:01:03.280 --> 0:01:06.160 standpoint about how you get these permits and what can 0:01:06.200 --> 0:01:09.039 be allowed and what is permitted, what is zone That 0:01:09.200 --> 0:01:14.080 is important team permit and having cash man that's one 0:01:14.120 --> 0:01:15.800 thing that they won't tell you that. You need to 0:01:15.840 --> 0:01:18.399 know that this is a cash intensive and it can 0:01:18.440 --> 0:01:22.040 be stressful. But having a strong team and having multiple 0:01:22.040 --> 0:01:23.679 teams sometimes can help. 0:01:25.200 --> 0:01:33.000 Shout it with your thoughts. Don't do it, you know, image, you. 0:01:35.160 --> 0:01:41.560 Don't do it, Please don't do it. So ra shot 0:01:41.720 --> 0:01:44.520 you would buy something and renovated, giving your experience a 0:01:44.720 --> 0:01:47.280 beautiful staircase by the way, shout out. 0:01:49.240 --> 0:01:53.240 I have to text you like, oh, thank you. 0:01:53.240 --> 0:01:55.840 I appreciate that. The good thing I designed the house. 0:01:55.880 --> 0:02:00.200 I did design the house. You know, it's one of 0:02:00.280 --> 0:02:02.760 these things. The good thing about building a home is 0:02:02.800 --> 0:02:05.480 that you get to build it right, you get to 0:02:05.480 --> 0:02:08.000 design it. I'm meant to I'm into interior design, so 0:02:10.040 --> 0:02:14.320 you know, most men are not into interior design. I'm 0:02:14.360 --> 0:02:17.120 into interior design. So I enjoyed that part of the process. 0:02:17.160 --> 0:02:23.519 But the amount of money is unbelievable, and the stress 0:02:24.320 --> 0:02:31.120 and the delays and the hiccups and arguing with contractors 0:02:31.919 --> 0:02:39.360 and man, it's something that I think, and you know, 0:02:39.400 --> 0:02:43.000 I had a bad situation, so people obviously probably have 0:02:43.120 --> 0:02:48.519 better situations than me. But it's unbelievable. It's actually unbelievable. 0:02:48.560 --> 0:02:51.480 The amount of stress and the amount of money that 0:02:51.560 --> 0:02:54.000 I personally have spent over the last four years. So 0:02:54.240 --> 0:02:56.600 was it cool to design my house? Yes, because I 0:02:56.600 --> 0:02:59.440 always liked sims growing up. So it is cool to 0:02:59.520 --> 0:03:01.200 just say I I want this, I want that, I 0:03:01.240 --> 0:03:03.280 want this, I want that, I want that, go to China. 0:03:03.320 --> 0:03:06.040 That's all been cool. But if I had to do 0:03:06.080 --> 0:03:11.840 it over, I would most likely not do this. I 0:03:11.880 --> 0:03:15.960 would most likely not do this. Never again. Never again. 0:03:16.040 --> 0:03:17.200 I mean it's never again. 0:03:18.800 --> 0:03:20.760 That's why I said so, Like, even we've had these 0:03:20.760 --> 0:03:25.960 conversations just like personally, right, I'm like, the process is 0:03:26.000 --> 0:03:30.760 tedious and the glory is on the other side of 0:03:30.760 --> 0:03:34.079 it when yes, you have created something. My situation is 0:03:34.120 --> 0:03:37.640 obviously different, but I mean we're pretty much neighbors building 0:03:37.680 --> 0:03:40.480 that with somebody waking up in it and realizing, like, Yo, 0:03:40.520 --> 0:03:42.440 you really did this, Like this is something that you 0:03:42.560 --> 0:03:45.600 really did, you accomplished it. It's something that you can 0:03:45.720 --> 0:03:47.480 be proud of, It's something that your kids can be 0:03:47.480 --> 0:03:49.520 proud of, but it's also something that your community can 0:03:49.560 --> 0:03:52.000 be proud of. Right because we've kind of did this 0:03:52.080 --> 0:03:55.960 anywhere in the world, Like the fact that we did it, 0:03:56.200 --> 0:03:58.240 you know, in a place that is familiar to us 0:03:58.440 --> 0:04:01.080 and that people that are from our community can look 0:04:01.080 --> 0:04:03.480 at and say, Yo, these guys still in here giving 0:04:03.480 --> 0:04:05.400 back to the community, but actually in the community that 0:04:05.400 --> 0:04:09.000 are accessible to us. I think that part of it 0:04:09.080 --> 0:04:14.040 is like, all right, bro, I get it. It's terrible, right, 0:04:14.080 --> 0:04:15.640 And like I've had to watch him go through it. 0:04:15.680 --> 0:04:18.280 He's watched me go through it as well. But like 0:04:18.360 --> 0:04:20.440 that first night you sleep in there, it's like, Yo, damn, 0:04:20.520 --> 0:04:21.280 I did this. 0:04:22.040 --> 0:04:26.160 I'll say this too. Nobody talks about a lot of 0:04:26.200 --> 0:04:29.480 people don't make it past this. Like even area that 0:04:29.520 --> 0:04:32.080 we we live in, a lot of people built their homes. 0:04:32.560 --> 0:04:36.599 One guy got divorced because he got it because one lady. 0:04:36.640 --> 0:04:40.440 One bro couldn't finish the project. I actually developed sleep apnea, 0:04:40.600 --> 0:04:44.480 I mean insomnia sleep insomnia for two years. One guy 0:04:44.600 --> 0:04:46.160 developed a heart condition. 0:04:50.160 --> 0:04:54.080 That was. 0:04:55.000 --> 0:05:00.000 Yeah, there is health stresses that pop up with these 0:05:00.080 --> 0:05:01.159 financial issues though. 0:05:01.440 --> 0:05:05.920 I'm not I'm not trying to be facetious yet. Yes, 0:05:06.160 --> 0:05:09.000 and I've watched it because the steep he's talking about, literally, 0:05:09.000 --> 0:05:11.040 I'm watching this happen to him, but I'm watching my 0:05:11.080 --> 0:05:13.640 wife go through it too. Like the stress levels insomny 0:05:13.680 --> 0:05:17.120 you can't sleep. I'm watching that and realizing that I 0:05:17.200 --> 0:05:19.760 can't develop those things because there's people that are gonna 0:05:19.760 --> 0:05:21.640 be relying on me, right Like, so I gotta have 0:05:22.000 --> 0:05:22.920 That's just my spirit. 0:05:22.960 --> 0:05:25.760 It's just like, I gotta be optimistic. Yo, when is 0:05:25.760 --> 0:05:26.280 this gonna end? 0:05:26.320 --> 0:05:27.800 It? Always it gets to that point, and Matt you 0:05:27.839 --> 0:05:30.039 can speak to it too. It's like, Yo, when are. 0:05:29.839 --> 0:05:32.720 We gonna stop spending at this level? 0:05:35.080 --> 0:05:36.000 Is right? Though? Troy? 0:05:36.120 --> 0:05:37.920 This ship is a pain in the ass, bro, This 0:05:38.120 --> 0:05:41.400 is I'm nothing that. This is one of the most 0:05:41.400 --> 0:05:44.520 stressful things that I've ever experienced in real estate. It 0:05:44.680 --> 0:05:47.520 just doesn't make no sense some days, and it's just like, y'all, 0:05:47.560 --> 0:05:50.400 I just feel like, y'all just I'm I'm some days 0:05:50.440 --> 0:05:51.760 I'm just like I feel like I just want to 0:05:51.760 --> 0:05:53.320 throw in the time with Like, but I'm like, I 0:05:53.320 --> 0:05:55.560 didn't come as far to get this far, So I 0:05:55.880 --> 0:05:57.280 gotta I gotta see this. 0:05:57.240 --> 0:05:58.440 To the end, you know. 0:05:58.800 --> 0:06:01.600 But I can't wait to have that experience, like you're saying, 0:06:01.680 --> 0:06:04.159 just to wake up and you're being your joint After 0:06:04.279 --> 0:06:07.719 all the blood, sweat and tears and all the hundreds 0:06:07.760 --> 0:06:10.240 and hundreds and hundreds of thousands of dollars that you 0:06:10.320 --> 0:06:13.120 have spent, like you need to be able to enjoy it. 0:06:13.160 --> 0:06:15.040 So I know there's going to be a rainbow after 0:06:15.040 --> 0:06:17.400 the storm, but it's just like damn this need to 0:06:17.440 --> 0:06:18.159 hurry up. 0:06:18.320 --> 0:06:20.840 So that that's the thing, right, So like I've been 0:06:20.880 --> 0:06:22.600 able to do that and even now, like I'll wake 0:06:22.680 --> 0:06:27.360 up and just be like, yo, look at God, Like 0:06:27.839 --> 0:06:30.880 God is really the greatest, to a point where sometimes 0:06:31.120 --> 0:06:33.039 out like where am I and this is really like 0:06:33.080 --> 0:06:35.840 where I'm living, like this is crazy. But that just 0:06:35.960 --> 0:06:38.080 goes to like, yeah, I know, people say when you're 0:06:38.120 --> 0:06:40.960 in it, it fucking sucks. It does fucking suck, and. 0:06:40.920 --> 0:06:42.200 They're like, yo, don't worry. 0:06:42.320 --> 0:06:44.679 You won't think about as much as when you're living 0:06:44.720 --> 0:06:47.200 here and it's a part of your every day, you know, 0:06:47.240 --> 0:06:49.799 you can really be proud of it. And like, slowly 0:06:49.880 --> 0:06:53.320 I'm feeling that because I'm still like I'm still building, 0:06:53.480 --> 0:06:55.400 there's still pieces that I'm at and I'll text you, 0:06:55.400 --> 0:06:56.680 I'll call you after this so you can see what 0:06:56.720 --> 0:06:57.200 we just did. 0:06:58.720 --> 0:07:01.000 But it's slowly happening. 0:07:01.760 --> 0:07:03.480 I mean, I mean I watch it, I'm watching him 0:07:03.480 --> 0:07:05.279 go through it. I'm like, yeah, been, I know exactly 0:07:05.279 --> 0:07:08.760 what he's feeling because it's like, damn, you know. 0:07:08.920 --> 0:07:10.480 One of them is about a year and a half, 0:07:10.520 --> 0:07:11.320 got car shot. 0:07:11.320 --> 0:07:12.920 Like you're you good? He like yeah, I'm like, I 0:07:12.960 --> 0:07:16.240 know you're not good. I know you're not sleeping. These 0:07:16.240 --> 0:07:18.080 are the other parts of the conversations that have to 0:07:18.080 --> 0:07:20.560 be had too. I keep telling you, after you get 0:07:20.600 --> 0:07:23.200 the money, they have a thousand ways to take it from. 0:07:23.000 --> 0:07:28.560 You, and they go fastil building a house, you'll see 0:07:28.600 --> 0:07:29.520 your money go fast. 0:07:30.040 --> 0:07:30.240 Yeah. 0:07:30.320 --> 0:07:33.160 And it's like I said, nothing like every day. It's 0:07:33.200 --> 0:07:35.320 every I've spent money every single day. But you know, 0:07:35.560 --> 0:07:38.000 I moved in. The house is not done yet, but 0:07:38.080 --> 0:07:41.400 you know, we're working around construction, but it's you know, 0:07:41.720 --> 0:07:45.320 it's it's it's coming together, like you know, you know 0:07:45.520 --> 0:07:48.320 all right, if you get married. They say this isn't 0:07:48.360 --> 0:07:52.680 something you should into unadvised something like that, Like that's 0:07:52.800 --> 0:07:54.720 they say you should seek counsel. This isn't something that 0:07:54.720 --> 0:07:55.960 you should into unadvised. 0:07:56.400 --> 0:07:56.680 M h. 0:07:57.680 --> 0:08:01.480 Building a home or even buying a home. Buying a 0:08:01.520 --> 0:08:05.720 home is not something you should enter unadvised. Great, Like 0:08:06.720 --> 0:08:09.880 that's a big, big, big deal. It's a commitment. And 0:08:09.920 --> 0:08:11.720 you know me, I never lived in a home. So 0:08:11.880 --> 0:08:15.120 even now it feels slightly weird, like waking up like 0:08:17.440 --> 0:08:20.480 by myself in a home. It's kind of it's kind 0:08:20.480 --> 0:08:25.240 of a big it's a big space. Feel slightly weird, honestly, 0:08:25.360 --> 0:08:28.240 like you know, to be completely honest about it. 0:08:30.480 --> 0:08:32.200 Put the family in there. We talked about Black. 0:08:33.640 --> 0:08:35.520 I'm eating lunch these guys in my front yard. 0:08:35.559 --> 0:08:35.719 Man. 0:08:41.720 --> 0:08:45.280 Yeah, Bro, I mean look, yeahs shoddy man, I have 0:08:45.360 --> 0:08:46.199 more kids or something. 0:08:46.200 --> 0:08:46.360 Bro. 0:08:47.400 --> 0:08:53.040 Yeah yeah, come on, man, I'm just saying you might 0:08:53.080 --> 0:08:54.960 have to like pop out two more or something. 0:08:55.000 --> 0:08:57.520 I don't know, like you got that big you know, 0:08:57.920 --> 0:09:04.600 like y'all got that big credit about like pause, but 0:09:04.840 --> 0:09:06.880 like that one is crazy. 0:09:07.440 --> 0:09:10.160 I'm just saying though, like respect for yourself. 0:09:13.720 --> 0:09:16.640 I'm just saying God is good, Bro, God is good. 0:09:16.920 --> 0:09:18.760 God is good. God is good. As the follow up 0:09:18.840 --> 0:09:24.320 is crazy. Respect all right, MG. 0:09:25.520 --> 0:09:26.600 Always always a pleasure, Bro. 0:09:27.040 --> 0:09:30.440 I appreciate you. I appreciate the love. That's always man. 0:09:33.400 --> 0:09:35.720 All right, what a little overtime. 0:09:35.800 --> 0:09:38.360 But that home conversation is we gotta talk about that 0:09:38.400 --> 0:09:42.040 on Black album, man, because that it's an emotional conversation, 0:09:42.080 --> 0:09:45.360 because it's ups and downs, it's it's good things, it's 0:09:45.400 --> 0:09:48.479 bad things. It's money spent, it's you know, it's triumphs, 0:09:48.640 --> 0:09:51.600 his failures. It's so many different things that that go 0:09:51.640 --> 0:09:55.280 into buying a home building a home. And like I said, 0:09:55.360 --> 0:09:58.680 most of the time when people build a home, they 0:09:59.200 --> 0:10:02.160 let's say a man, their wife is doing a lot 0:10:02.160 --> 0:10:05.120 of that, or they have an interior designer.