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Speaker 2: All right, guys, welcome back. We have another monumental episode today,

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Speaker 2: put a lot of pressure Episode twelve. First of all,

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Speaker 2: thank you guys for your support. Our growth has been tremendous.

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Speaker 2: You know we're in the top ten percent of all

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Speaker 2: podcasts audio in the world after twelve weeks. So you know,

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Speaker 2: it's encouraging because you know, the content that we're putting

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Speaker 2: out as educational, so it's good to see people gravitating

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Speaker 2: towards that. So thank you guys for your support and

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Speaker 2: keep spreading the words all being organic and grassroots. So

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Speaker 2: you know, tell a friend to tell a friend, and yes, yes,

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Speaker 2: keep helping us grow because the more we grow, the

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Speaker 2: more information that we're going to give away, absolutely for sure.

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Speaker 2: So before we start, you know, we have to touch

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Speaker 2: on some very sad, in tragic news that happened in

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Speaker 2: our culture in the world with the with the passing

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Speaker 2: of Nipsey Hustle. And you know, we've spoke about it

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Speaker 2: before and I posted it on the page where Nipsey

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Speaker 2: we was like really our guy, like we really was

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Speaker 2: like we.

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Speaker 3: Made a list of people we wanted to meet and

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Speaker 3: we're doing the same work and we're on the same path,

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Speaker 3: and he was at the top of our list. And

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Speaker 3: to see the news what happened Sunday, it was just

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Speaker 3: it hit hard.

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Speaker 2: Ye, senseless, senseless act of violence that just affected so

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Speaker 2: many different people. And as you said, I mean, Nipsey

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Speaker 2: Hustle was somebody that we were pretty confident that we

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Speaker 2: were going to get a conversation with him. We just

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Speaker 2: I just felt it because that was his economic empowerment.

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Speaker 2: That's what he was about, Like you know what I mean.

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Speaker 2: So yeah, man, it's just it's just a very tragic

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Speaker 2: and sad situation. Like you said, senseless, just a senseless

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Speaker 2: act of violence in.

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Speaker 4: Peace came sad, sad loss for the world, for the culture.

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Speaker 4: He was definitely out there doing what he had to

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Speaker 4: do to empower us all and now we just got

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Speaker 4: to take that baton and continue to run with it.

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Speaker 5: I think that was one of the most uplifting things

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Speaker 5: I saw.

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Speaker 3: It was like somebody had DM's us and it was

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Speaker 3: like Nipsey would be proud of your work. And I

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Speaker 3: was like, wow, because I don't. I mean, I didn't

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Speaker 3: even speak to you. The first beginning of the week.

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Speaker 3: I just couldn't talk. I was just completely out of it.

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Speaker 3: But when I read that, like he would be proud

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Speaker 3: of us, continue to work and the marathon continues, I

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Speaker 3: was like, let's do it.

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Speaker 5: We're gonna carry this.

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Speaker 2: The marathon continues for sure. So this this show is

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Speaker 2: actually dedicated to Nipsey, and one of the things that

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Speaker 2: he was very passionate about. He was passionate about a

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Speaker 2: lot of things, but economic development in his community, buying

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Speaker 2: black his community, and investing in real estate like he was.

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Speaker 2: He was big on real estate. He was on Forbes.

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Speaker 2: Forbes covered him as far as his revill estate deals.

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Speaker 2: And he had just brought the strip mall in his

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Speaker 2: neighborhood actually unfortunately where he was murdered at. He brought

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Speaker 2: that strip mall and he was buying a bunch of stuff.

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Speaker 2: He had a we work center, he had a stem

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Speaker 2: center for kids, a bunch of different things. He was

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Speaker 2: you know, he had him and his business partner, David Gross.

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Speaker 2: They were buying apartment complexes, all kinds of stuff. So, yes,

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Speaker 2: this this is the real estate addition, because real estate

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Speaker 2: is very exciting and it's very hot, and it's very

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Speaker 2: you know, it's in the news a lot right now,

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Speaker 2: and it's good. But it's something that a lot of

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Speaker 2: some people hear about and they just think they're just

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Speaker 2: gonna get rich quick, make a million dollars without doing

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Speaker 2: any work. And it doesn't want money up. It doesn't

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Speaker 2: always work like that. So this is what we do

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Speaker 2: in the show. If we educate so what better way

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Speaker 2: to educate than to bring an expert in the field on.

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Speaker 2: So we have a very special guest today, Matt Garland,

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Speaker 2: who is All All Star mortgage advisor Match just came

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Speaker 2: off a toy. He's in the middle of tour. Actually

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Speaker 2: he's in the middle of tour. He's on dj Envy's

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Speaker 2: real Estate tour. So, if you're not familiar dj Envy,

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Speaker 2: h is heavy in the real estate game and he's

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Speaker 2: traveling around the country putting on seminars to educate people

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Speaker 2: on real estate investing. And he has a team of

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Speaker 2: professionals that you know he has on his team on

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Speaker 2: his real estate team if you ever go to one

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Speaker 2: of his seminars and one of the professionals is Matt.

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Speaker 2: Absolutely so Mad's a good guy. Matt, as I said,

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Speaker 2: he's a mortgage advisor, just very knowledgeable about the real

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Speaker 2: estate industry. So thank you, welcome listen.

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Speaker 4: I appreciate the love, I appreciate the hospitality. Like you

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Speaker 4: guys said, I'm on to our right now. It's been

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Speaker 4: We just came back from Miami.

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Speaker 2: What cities have you been to so far?

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Speaker 5: So far?

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Speaker 4: New Jersey, New York, Well, Atlantic City, Queens. We just

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Speaker 4: came back from Miami. Now we head into Detroit on

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Speaker 4: for twenty then we got Atlanta for twenty seven. Then

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Speaker 4: we're back in New Jersey five nineteen.

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Speaker 6: Then June.

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Speaker 4: He didn't announce yet, so I'm not gonna know. We

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Speaker 4: we got something going on in June, July, August, you know.

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Speaker 4: So we're just traveling around and I'm probably gonna put

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Speaker 4: together my own workshop again, part two of the Generational

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Speaker 4: Wealth Workshop, so and Juling.

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Speaker 6: I'm working on those details now.

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Speaker 4: So it's just it's been busy, man, and on top

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Speaker 4: of it.

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Speaker 6: Yeah, no, this is this is nothing.

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Speaker 5: Man.

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Speaker 4: I love what you guys are doing. I'm excited to

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Speaker 4: be a part of this. And listen, I'm humbled to

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Speaker 4: be a part of this because you guys could have

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Speaker 4: picked anybody, but you guys picked me to come in

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Speaker 4: and talk about a subject that I love.

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Speaker 6: So I'm ready, man. That's the piece the Nipsey again.

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Speaker 2: Man.

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Speaker 4: We're going to dedicate this episode to him, and hopefully

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Speaker 4: we may him proud with the information we want to

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Speaker 4: get out to the people.

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Speaker 2: All Right, So now we're going to go into an

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Speaker 2: interesting story that's been in the news recently about fifty Curtis.

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Speaker 6: Jackson, Queens get the money?

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Speaker 2: Are you from queens?

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Speaker 6: From Queens? Brooklyn and Queens? But I claim queens.

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Speaker 2: Okay, okay, fifty yeah, fifty, We like fifty cent. He's

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Speaker 2: actually I think he's more entertaining as an entertainer at

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Speaker 2: this point than a rap. Absolutely, he's hilarious. It's actually

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Speaker 2: really yeah, well, I'm he gives not trying classic. Even

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Speaker 2: before that, the mixtape raxtape change changed the game.

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Speaker 6: He changed the game with the next.

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Speaker 2: Day, so all right, So he he brought a house.

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Speaker 2: He put Mike Tyson's house in two thousand Can we.

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Speaker 5: Even clo the house?

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Speaker 6: We got to state state that's like, I don't even

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Speaker 6: know if you can call that state.

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Speaker 2: That's state compound. That's a compound. I think it's the

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Speaker 2: biggest a state compound house on the East coast. Has

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Speaker 2: fifty bedrooms and nineteen bathrooms. Crazy, and it's fifty thousand

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Speaker 2: square feet fitting The address was I think fifty something.

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Speaker 2: So it's ironic.

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Speaker 6: It works.

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Speaker 2: So he brought it in two thousand and three for

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Speaker 2: Mike Tyson's ex wife for four point one million dollars

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Speaker 2: and he he turned it into.

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Speaker 5: It was like a Playboy Mansion times ten.

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Speaker 2: Yeah, he put it. He put a stripper pole poles, studio,

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Speaker 2: a grothel. You gotta love it.

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Speaker 5: Yeah, he had a casual atrium in there.

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Speaker 3: This it wastaou basketball courts, a studio like you said,

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Speaker 3: a club.

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Speaker 5: It was. It was called club.

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Speaker 6: Damn. That was right at the tip of my head.

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Speaker 2: Fifty I think, no, no, no, no, something else.

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Speaker 4: It was like the sound system cost one hundred thousands

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Speaker 4: when he went he went in.

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Speaker 2: He puts six million dollars into it in addition from

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Speaker 2: the four million that he actually paid for. So he's

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Speaker 2: ten million.

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Speaker 5: Total ten million.

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Speaker 2: And he realizes that I don't really want the house anymore.

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Speaker 2: But therest thing about the house is that it's in Connecticut.

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Speaker 2: It's in the middle of nowhere, in like a middle

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Speaker 2: class neighborhood, right yeah, And it's like five times bigger

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Speaker 2: than any other house in the neighborhood.

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Speaker 5: It's bigger than most hotels.

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Speaker 4: It's speaking in five times bigger than probably any house

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Speaker 4: on the East Coast.

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Speaker 2: So now he decides he wants to sell it. I

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Speaker 2: think it's on the market for like ten years.

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Speaker 3: Two thousand and seven, he decides to sell it. He

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Speaker 3: puts it he listed for eighteen point five million.

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Speaker 2: Yeah, try again. No, nobody's buying it for eighteen point

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Speaker 2: five million. So he just recently sold it for two million.

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Speaker 5: Yeah, two point nine two.

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Speaker 2: Point nine million, man, so that's like a seventy nine

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Speaker 2: percent loss.

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Speaker 5: The headline was like.

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Speaker 2: Asking and like a seventy nine percent from total where

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Speaker 2: he's all in, Yeah, And it's so crazy because it's like, hey,

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Speaker 2: I mean the grand scheme of things, if you really

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Speaker 2: think about it, especially in our area, two point nine

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Speaker 2: million is not a lot of money for fifty bedrooms

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Speaker 2: in nineteen you really think, you really think about that,

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Speaker 2: that's obtainable, like that.

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Speaker 4: It's not too far fast, No, it's you got six

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Speaker 4: bedroom homes going for that price.

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Speaker 2: It's like, it's crazy that it costs that much, and

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Speaker 2: then it's also crazy that it's appreciated that much. So like,

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Speaker 2: what's the takeaway here?

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Speaker 4: Like, oh man, there's so many takeaways with the story,

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Speaker 4: good and bad.

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Speaker 5: You know.

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Speaker 4: The first thing that stands out my head being in

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Speaker 4: the business is over improving the house for neighborhood, right,

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Speaker 4: you know, I do a lot of renovation loans. So

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Speaker 4: what I try to tell people is don't create the

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Speaker 4: white elephant in your neighborhood because you'll never get that

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Speaker 4: money back.

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Speaker 6: You'll actually lose.

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Speaker 4: And I think this is a prime example of having

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Speaker 4: that white elephant and you.

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Speaker 3: Want to get a story in a white elephant, like yeah, yeah, yeah,

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Speaker 3: So like the white elephant. Really it was a gift

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Speaker 3: that was given to a king or somebody of that

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Speaker 3: statue or emperor, and it was a beautiful gift because

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Speaker 3: it was rare. You could never find these things, right,

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Speaker 3: But after he got it, he realized all the burdens

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Speaker 3: that came along with it. What do you beat this thing?

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Speaker 3: How do we make sure that the stay's healthy? And

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Speaker 3: it just becomes something that is there that has no use.

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Speaker 3: So they like when they say white elephant in real estate,

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Speaker 3: that's what they're talking about. Like I remember in Rio

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Speaker 3: when they built it the Sumper Olympics. They were building

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Speaker 3: all these stadiums and it was like, what are we

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Speaker 3: going to do after the Olympics leaves. We have a

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Speaker 3: bunch of white elephants, all these stadiums, all this infrastructure,

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Speaker 3: nothing to us, it.

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Speaker 5: Nothing to use, greased another day.

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Speaker 6: And that's kind of what happened in this situation.

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Speaker 2: Right.

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Speaker 4: So that's the biggest takeaway that I got off off

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Speaker 4: of it. Being in the businesses, just don't over improve

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Speaker 4: the house because you never know what the market is

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Speaker 4: going to do. You know, when he made that six

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Speaker 4: million dollar investment of renovating the home, it probably was

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Speaker 4: a great idea at the time. Right when you purchased

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Speaker 4: that type of home and you put in that type

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Speaker 4: of money, no one at that time was really if

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Speaker 4: you was not in the market, you know, on Wall

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Speaker 4: Street and really paying attention on the back end, which

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Speaker 4: I'm not even to get into this too complicated, but

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Speaker 4: if he wasn't paying attention, you really didn't know.

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Speaker 6: So at that time it probably was a great idea.

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Speaker 4: But Tom told that it wasn't a great idea.

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Speaker 6: So that's one of the major things that I got

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Speaker 6: out of it.

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Speaker 4: That he took such a big loss that we see

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Speaker 4: but on paper when it comes to tax strategies and

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Speaker 4: everything like that, Listen, fifty is smart. You know he

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Speaker 4: donated the proceeds to charity. Tax strategy, right, I'm all

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Speaker 4: on with helping and doing he has to do. So

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Speaker 4: I'm sure over the last twelve years he's been able

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Speaker 4: to write off a lot of these losses and will

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Speaker 4: continue the.

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Speaker 5: Probably he wasn't even living at the residents.

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Speaker 3: Yeah, and one of the things he was trying to

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Speaker 3: do was make it a part of his gun foundation

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Speaker 3: where kids could go as a summer camper treat. And

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Speaker 3: I think like off camper we were talking about, like, oh,

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Speaker 3: so he probably didn't even buy this as Curtis Jackson.

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Speaker 4: Oh, definitely, probably not right. It's probably was in one

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Speaker 4: of his many businesses names. So you know, that's when

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Speaker 4: you see these headlines, right, it's eye popping, you know,

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Speaker 4: eighty four percent loss. But do we really know how

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Speaker 4: much he really lost or did he really lose in

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Speaker 4: this entire deal.

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Speaker 6: Where you break down from a tax perspective too.

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Speaker 4: But the one thing is for sure he overinvested into

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Speaker 4: the property.

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Speaker 6: And there's no denying that, right.

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Speaker 4: You know, you purchased it for four point one, you

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Speaker 4: put in six, you sold it for.

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Speaker 6: Two point nine.

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Speaker 4: You lost, took an L when it comes to that,

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Speaker 4: But on paper, he probably didn't take as big of

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Speaker 4: a of an l that the headlines and the papers

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Speaker 4: are making it out too.

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Speaker 2: And then you got to keep it classy too. It's like, yeah,

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Speaker 2: it's like putting rims on Rose Royce, like, yeah, something

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Speaker 2: you put a ship. You can't put a ship in Connecticut.

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Speaker 2: I don't think there's too.

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Speaker 4: Many people saying listen, man, listen, I'm not even going

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Speaker 4: to you know, when you when you're in his lifestyle

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Speaker 4: and in his business.

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Speaker 2: No, no, it's good for him. But if you ever

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Speaker 2: done about reselling but for resell.

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Speaker 4: But but that's that's you know again, when you renovating

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Speaker 4: your home, you got to be careful what you're putting

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Speaker 4: in there because your taste may not be.

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Speaker 2: The next You gotta think the person that's going to

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Speaker 2: buy it next. Yeah, exactly.

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Speaker 4: If you always got to be thinking about that resell,

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Speaker 4: that reselling. Maybe that's something that he never thought that

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Speaker 4: he would ever sell the property.

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Speaker 6: He probably thought he would always keep it right when.

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Speaker 5: He was putting those murals up of himself.

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Speaker 6: Putting the pros up, doing anything that into the property.

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Speaker 4: He probably never thought like, I'm gonna sell this in

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Speaker 4: ten years or twelve years.

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Speaker 6: Probably thought it was going to be his compound forever.

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Speaker 4: But you know, life changes, right, and that's the most

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Speaker 4: important thing about real estate is you never know, you know,

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Speaker 4: life moves and whatever that action. It needs to move

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Speaker 4: and the market doesn't care about the tripper poles.

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Speaker 3: The person, the person who bought the compound. He said

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Speaker 3: that he's going to invest money to renovated too.

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Speaker 6: Yeah.

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Speaker 4: I read that this morning that he's going to invest

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Speaker 4: millions of dollars into the property. So for me, this

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Speaker 4: is this is going this is like anover end the story.

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Speaker 4: I think that we're going to be speaking about for

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Speaker 4: years to come because who knows what type of foolery

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Speaker 4: that he's going to in the house.

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Speaker 3: It's that there's something about the house because before Mike

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Speaker 3: Tyson had it, the Giant and the general who owned it, Yeah,

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Speaker 3: like I think.

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Speaker 6: He went to prison with fraud fraud, yeah.

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Speaker 5: And then Mike Tyson like we probably should maybe just

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Speaker 5: turn that into a motel.

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Speaker 6: I mean, listen, at this point, it's probably fitting for

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Speaker 6: a hotel.

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Speaker 5: Right, yeah, but it's just it's in like the middle.

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Speaker 3: It's armorting Connecticut, which is I mean, if you live

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Speaker 3: in a try to state, that's not close to here,

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Speaker 3: which is probably why he wasn't staying there, Like he's

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Speaker 3: in New York, is in LA It's like two hour drive,

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Speaker 3: Like if you've ever driven through Connecticut. It's like, yeah, bro,

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Speaker 3: you're looking at trees for hours hours.

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Speaker 4: But I mean fifty wasn't driving, it was taking hell

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Speaker 4: like so you know, it's just a different lifestyle.

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Speaker 6: But you know that house is definitely uh.

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Speaker 4: Like a white elephant, like like you said, And that

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Speaker 4: could be a lesson for anyone who's buying real estate.

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Speaker 4: Don't over improve, don't put too much money because you

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Speaker 4: never know how the neighborhood is going to change in

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Speaker 4: the in the next couple of years. So if anybody

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Speaker 4: gonna learn anything from this, that's what we need to

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Speaker 4: learn from it. Don't over improve your property.

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Speaker 2: Shout out to fifty, shout out.

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Speaker 6: I love what he's doing everything.

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Speaker 5: Yeah he got some he got some new series.

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Speaker 2: Is that that white elephant? I don't know if that

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Speaker 2: actually if there's a white elephant, Like, is that just

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Speaker 2: like one of those make belief stories though, But I'm

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Speaker 2: just thinking about it. What makes a white elephant harder

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Speaker 2: to feed than a regular elephant?

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Speaker 3: No, because it's it's it's it's like no, no, no,

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Speaker 3: it was rare.

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Speaker 5: So it was like it's like the.

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Speaker 3: Unicorn there, It's like, yo, do they eat the regular

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Speaker 3: food or you know, what I'm saying, like it was

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Speaker 3: under that premise, like how do.

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Speaker 2: I treat this elephant doesn't eat regular I don't, I

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Speaker 2: don't know, I never had one.

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Speaker 3: I'm like, my thing is like a white elephant doesn't

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Speaker 3: even to be around the story.

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Speaker 5: You know what I'm saying.

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Speaker 2: I'm saying, it's not real story. No, no, that was

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Speaker 2: like a real story.

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Speaker 3: That's like like a unicorn, Like we've never seen a unicorn,

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Speaker 3: but like how do you.

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Speaker 5: Feed a unicorn?

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Speaker 6: Santa Claus, I've never seen Santa.

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Speaker 5: Yeah, you thought like it was it was a problem.

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Speaker 2: I thought it's a real story.

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Speaker 5: No, no, no, no, no, no, no, no.

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Speaker 2: Shots white elephants in.

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Speaker 3: The world, Like remember in Greece, Remember did you post that?

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Speaker 3: What in Greece where they have like Athens? What it

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Speaker 3: looks like now they have the Olympics in twenty ten.

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Speaker 2: You know what I'm saying, Like what it like?

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Speaker 5: Have you seen what it looks like?

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Speaker 2: Now?

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Speaker 5: It's ridiculous, completely run down.

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Speaker 3: They can't waste the money, wasted money just to have

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Speaker 3: this one event, like these things are white out.

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Speaker 5: The same things gonna happen in real Like some places

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Speaker 5: should not have.

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Speaker 2: The Olympics they built the stadium in the rainforest. Wow.

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Speaker 3: And when they try to when they try to have events,

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Speaker 3: it was the whole city flooded. Nobody can get to

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Speaker 3: the events. It's like, all right, you spent eighty million

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Speaker 3: dollars to build the state, probably more now we have.

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Speaker 2: No use for it because you can't even play an

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Speaker 2: abandoned stadium in the rainforest.

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Speaker 6: It's ridiculous.

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Speaker 3: They were like, oh, we'll have club teams come, but

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Speaker 3: they a club team's not going. Some of these club

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Speaker 3: teams can't put one hundred thousand.

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Speaker 2: People in there.

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Speaker 5: They can't afford to go to the games. The environment

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Speaker 5: you're building.

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Speaker 2: It is terrible, man, Yeah, but it is what it is. Well,

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Speaker 2: there you have it.

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Speaker 3: We're gonna talk today about how to get really real

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Speaker 3: estate one on one. So for an average person that

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00:17:46,720 --> 00:17:50,399
Speaker 3: doesn't come from, you know, a fluent, affluent family and

401
00:17:50,800 --> 00:17:54,600
Speaker 3: low socio economic environment, how does someone get into real estate?

402
00:17:54,760 --> 00:17:56,480
Speaker 5: Like what would be the first step?

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Speaker 6: Oh? Man, The first step, personally, I think is mindset.

404
00:18:00,800 --> 00:18:04,239
Speaker 4: You got to make the decision. I think that's numero uno, right.

405
00:18:04,440 --> 00:18:07,520
Speaker 4: But as far as financing, you need to get pre approved,

406
00:18:07,600 --> 00:18:10,040
Speaker 4: you need to know exactly what you can qualify for.

407
00:18:10,840 --> 00:18:14,119
Speaker 4: There's several different loans out there. So let's speak to

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00:18:14,280 --> 00:18:17,760
Speaker 4: the first time home buyer right now. What I try

409
00:18:17,840 --> 00:18:20,080
Speaker 4: to coach all my first time home buyers is, you know,

410
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Speaker 4: most people want to go ahead and go to White

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Speaker 4: Planes or go to Long Island and buy the nice

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00:18:25,040 --> 00:18:27,639
Speaker 4: single family home with the white pick offense and this,

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00:18:27,760 --> 00:18:29,440
Speaker 4: that and the third right, which is cool. If that's

414
00:18:29,480 --> 00:18:31,159
Speaker 4: what you want to do, that's what.

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Speaker 6: You gotta do. What you gotta do. You got to

416
00:18:34,400 --> 00:18:35,479
Speaker 6: have the money for it though, right.

417
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Speaker 4: But what I try to encourage all my first time

418
00:18:37,680 --> 00:18:39,320
Speaker 4: home buy is, if you don't have a need for

419
00:18:39,440 --> 00:18:41,720
Speaker 4: the certain school district, or if you don't have, you know,

420
00:18:42,400 --> 00:18:44,800
Speaker 4: children that's going to junior high school or high school,

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00:18:45,119 --> 00:18:47,000
Speaker 4: then you should always start off with a multi family,

422
00:18:47,119 --> 00:18:49,080
Speaker 4: especially if you know you're looking to get into real

423
00:18:49,160 --> 00:18:51,680
Speaker 4: estate investment. You know at some point in your life,

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00:18:52,119 --> 00:18:54,879
Speaker 4: start off with a multi family anywhere between two to

425
00:18:55,040 --> 00:18:58,320
Speaker 4: four units. And you can use programs like FAHA, which

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00:18:58,359 --> 00:19:00,159
Speaker 4: allows you to put down as little west and.

427
00:19:00,160 --> 00:19:03,680
Speaker 6: A half percent as a down payment, which is a

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00:19:03,800 --> 00:19:05,240
Speaker 6: terrific program.

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Speaker 5: So three and a half would be that's pretty small percentage.

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Speaker 3: Yeah, as opposed to if I had to just outright

431
00:19:12,040 --> 00:19:13,960
Speaker 3: put what is it normally twenty percent or no?

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00:19:14,040 --> 00:19:16,560
Speaker 4: No, So you have FHA that allows you to put

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00:19:16,640 --> 00:19:19,480
Speaker 4: down three and a half percent, and also conventional loans

434
00:19:19,480 --> 00:19:21,320
Speaker 4: allow you to put down a US three percent, but

435
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Speaker 4: you have to qualify.

436
00:19:22,440 --> 00:19:24,760
Speaker 6: You have to be a certain income restrictions.

437
00:19:25,080 --> 00:19:27,480
Speaker 4: If you're buying multi families, you have the you know

438
00:19:27,560 --> 00:19:30,639
Speaker 4: white planes, the income restriction is probably ninety six thousand,

439
00:19:31,440 --> 00:19:33,960
Speaker 4: So if you exceed that, then you won't qualify for

440
00:19:34,040 --> 00:19:36,920
Speaker 4: that three percent down on a multi family. Then you'll

441
00:19:36,920 --> 00:19:39,359
Speaker 4: probably have to put down as fifteen percent because it's.

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Speaker 6: Gonna be a primary residence.

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Speaker 4: But FHA is always a good tool because no matter

444
00:19:43,320 --> 00:19:46,040
Speaker 4: it does I have any income restrictions, as long as

445
00:19:46,080 --> 00:19:49,200
Speaker 4: you're within the county's loan limits, then you can and

446
00:19:49,280 --> 00:19:52,320
Speaker 4: you can credit an income qualify which minimum credit scores

447
00:19:52,320 --> 00:19:55,480
Speaker 4: a five to eighty for FHA loans, were putting down

448
00:19:55,480 --> 00:19:57,560
Speaker 4: as little as three and a half percent. Buy that

449
00:19:57,720 --> 00:20:00,640
Speaker 4: multifamily and you can live in it for twelve months

450
00:20:00,680 --> 00:20:02,520
Speaker 4: and then move out of it, and then you can

451
00:20:02,560 --> 00:20:05,240
Speaker 4: writ the entire the entire place out and now you

452
00:20:05,560 --> 00:20:08,479
Speaker 4: created a cash flow investment property for yourself. And now

453
00:20:08,520 --> 00:20:10,280
Speaker 4: you can now go ahead and go buy your one

454
00:20:10,359 --> 00:20:14,040
Speaker 4: family or your condo or whatever you want, and now

455
00:20:14,119 --> 00:20:15,720
Speaker 4: put them in on down payment as well.

456
00:20:15,840 --> 00:20:19,720
Speaker 5: So each county has a set loan limits.

457
00:20:19,400 --> 00:20:23,199
Speaker 4: That you said, yeah, so faha has Every county is different, right,

458
00:20:23,320 --> 00:20:26,960
Speaker 4: So we're in like five boroughs west Chester, Long Island.

459
00:20:27,359 --> 00:20:30,000
Speaker 6: So up to a fourth family, we can go to

460
00:20:30,119 --> 00:20:31,879
Speaker 6: one point three non seven million.

461
00:20:32,080 --> 00:20:34,919
Speaker 4: Every county in America, every county in America. So if

462
00:20:35,000 --> 00:20:38,360
Speaker 4: you're you know, your audience is probably all over the place, right,

463
00:20:38,560 --> 00:20:40,600
Speaker 4: So if you want to know what your county loan

464
00:20:40,680 --> 00:20:43,080
Speaker 4: limit is, just you can google it again. You know,

465
00:20:43,160 --> 00:20:46,119
Speaker 4: if you're living in Kentucky, you can google, you know,

466
00:20:46,640 --> 00:20:50,040
Speaker 4: fah loan limits for Kentucky or whatever counties in Kentucky.

467
00:20:50,280 --> 00:20:53,960
Speaker 4: Or if you're in Georgia, if you're in when It County,

468
00:20:54,320 --> 00:20:57,600
Speaker 4: you can google fah loan limits for when It County, right,

469
00:20:57,640 --> 00:20:59,920
Speaker 4: and they will tell you for one family, do play

470
00:21:00,280 --> 00:21:02,399
Speaker 4: droplex four plex that's what they call it out there.

471
00:21:02,440 --> 00:21:02,840
Speaker 6: So that's why.

472
00:21:02,960 --> 00:21:05,480
Speaker 2: So that's interesting because yeah, so that's interesting that you

473
00:21:05,560 --> 00:21:07,920
Speaker 2: say that your first home should be a multi family.

474
00:21:07,920 --> 00:21:08,920
Speaker 6: You should be a multi family.

475
00:21:08,920 --> 00:21:11,199
Speaker 2: A lot of people have the reverse mindset where they

476
00:21:11,240 --> 00:21:13,840
Speaker 2: want to get the picket white fins as their first home,

477
00:21:13,960 --> 00:21:17,160
Speaker 2: and then if they want to get like an investment property,

478
00:21:17,200 --> 00:21:18,520
Speaker 2: then they'll look at multi family.

479
00:21:18,640 --> 00:21:18,840
Speaker 6: Yeah.

480
00:21:18,880 --> 00:21:21,280
Speaker 4: But see that's where they screw themselves, right, because now

481
00:21:21,400 --> 00:21:23,240
Speaker 4: when you go ahead and you do that one family

482
00:21:23,359 --> 00:21:25,280
Speaker 4: first and you go do the multi family second, now

483
00:21:25,280 --> 00:21:27,840
Speaker 4: you gotta put down twenty five percent. Now unless you

484
00:21:27,920 --> 00:21:31,040
Speaker 4: have twenty five percent plus closing costs, which is probably

485
00:21:31,160 --> 00:21:34,080
Speaker 4: you're gonna probably spend around thirty percent for that transaction.

486
00:21:34,600 --> 00:21:37,640
Speaker 4: Then guess what you just screwed yourself. Now it's gonna

487
00:21:37,680 --> 00:21:39,480
Speaker 4: it's gonna be harder for you to get into that

488
00:21:39,640 --> 00:21:42,080
Speaker 4: investment game. Now if you go ahead and you buy

489
00:21:42,160 --> 00:21:45,000
Speaker 4: that one that multi family first using three and a

490
00:21:45,000 --> 00:21:47,720
Speaker 4: half percent plus your closing costs, now you have a

491
00:21:47,840 --> 00:21:51,160
Speaker 4: multi family. Potentially it's you're gonna live in it because

492
00:21:51,200 --> 00:21:53,320
Speaker 4: it has to be your prominent residence. You have to

493
00:21:53,400 --> 00:21:56,400
Speaker 4: live in it for twelve months. Right after twelve months,

494
00:21:56,440 --> 00:21:59,520
Speaker 4: you can move out free and clear, no problem. Now

495
00:21:59,680 --> 00:22:02,520
Speaker 4: go ahead ahead and buy another one family, buy one

496
00:22:02,600 --> 00:22:05,760
Speaker 4: family property, and now still do a minimum down payment

497
00:22:05,840 --> 00:22:09,440
Speaker 4: loan because you're moving out of one and moving into

498
00:22:09,480 --> 00:22:11,800
Speaker 4: the other as your primary residence. So the key to

499
00:22:11,960 --> 00:22:14,480
Speaker 4: anything is all on how you're structure on your loans

500
00:22:14,520 --> 00:22:15,520
Speaker 4: and structureing your deal.

501
00:22:15,840 --> 00:22:16,000
Speaker 6: Right.

502
00:22:16,040 --> 00:22:19,480
Speaker 4: And if once you say investment property, you automatically think

503
00:22:19,600 --> 00:22:22,080
Speaker 4: twenty five percent down payment, you say.

504
00:22:22,200 --> 00:22:23,600
Speaker 6: Difference, that's a huge difference.

505
00:22:23,600 --> 00:22:26,480
Speaker 4: And especially here and where we are, you know that

506
00:22:26,560 --> 00:22:28,960
Speaker 4: can be a couple hundred grand depending on that sales price.

507
00:22:29,040 --> 00:22:31,240
Speaker 4: But if you go ahead and do multi family first

508
00:22:31,600 --> 00:22:34,720
Speaker 4: minimum down payment, twelve months, you move out, move into

509
00:22:34,760 --> 00:22:35,520
Speaker 4: your single family.

510
00:22:35,760 --> 00:22:37,359
Speaker 6: Now you have an asset that's going to pay for

511
00:22:37,440 --> 00:22:38,639
Speaker 6: itself and probably pay.

512
00:22:38,560 --> 00:22:41,440
Speaker 4: For your one family or a portion of that one family.

513
00:22:41,720 --> 00:22:44,800
Speaker 4: Right now, you created some sort of cash flow I have.

514
00:22:44,960 --> 00:22:47,240
Speaker 4: I've had clients move from four family to a two

515
00:22:47,320 --> 00:22:50,520
Speaker 4: family you know, and still was able to use minimum

516
00:22:50,640 --> 00:22:53,359
Speaker 4: down payments. Now, if you use an FAHA loan, you

517
00:22:53,480 --> 00:22:55,959
Speaker 4: can't go ahead move out of that four family property

518
00:22:56,160 --> 00:22:58,640
Speaker 4: FAHA and then going to the two family FAHA because

519
00:22:58,720 --> 00:23:01,120
Speaker 4: FAHA changed their rules or a couple of years ago.

520
00:23:01,480 --> 00:23:05,439
Speaker 6: You can't have two FAHA loans at the same time now, right.

521
00:23:05,520 --> 00:23:06,640
Speaker 5: But you could use it again.

522
00:23:07,000 --> 00:23:08,639
Speaker 2: What your loan if you reach what.

523
00:23:08,720 --> 00:23:11,600
Speaker 4: I tell everybody is this right, you buy that four

524
00:23:11,680 --> 00:23:14,960
Speaker 4: family or that multi family, you stay in there, you

525
00:23:15,119 --> 00:23:18,560
Speaker 4: refinance it, you get out of the FAH loan, and

526
00:23:18,640 --> 00:23:21,760
Speaker 4: you go into a conventional mortgage. Right, probably try to

527
00:23:21,800 --> 00:23:23,960
Speaker 4: pull some equity out of that home so that way,

528
00:23:24,080 --> 00:23:26,080
Speaker 4: now you can use that equity as a down.

529
00:23:26,000 --> 00:23:29,760
Speaker 6: Payment for your new property. Now you're refinancing as.

530
00:23:29,600 --> 00:23:33,000
Speaker 4: A primary primary residence because you're still technically living in there,

531
00:23:33,720 --> 00:23:36,360
Speaker 4: but your intent is obviously at some point to move

532
00:23:36,440 --> 00:23:39,159
Speaker 4: out of it. Now you're taking that equity. You have

533
00:23:39,760 --> 00:23:42,200
Speaker 4: a conventional loan on it. Now, now you're going to

534
00:23:42,240 --> 00:23:44,800
Speaker 4: buy your one family. Great, you're gonna go move in

535
00:23:44,840 --> 00:23:46,960
Speaker 4: that one family. Now you can use FAHA for that

536
00:23:47,119 --> 00:23:49,920
Speaker 4: one family because this four family or multi family is

537
00:23:49,960 --> 00:23:52,520
Speaker 4: now in a conventional mortgage, and you took the equity

538
00:23:52,560 --> 00:23:52,800
Speaker 4: out of.

539
00:23:52,840 --> 00:23:55,560
Speaker 6: There to help you purchase that one family.

540
00:23:55,640 --> 00:23:58,280
Speaker 4: And now your tenants are not only paying for this property,

541
00:23:58,760 --> 00:24:00,960
Speaker 4: now they're gonna help pay for the property depending on

542
00:24:01,000 --> 00:24:04,760
Speaker 4: the rentals and cash flow of that proper. Because it's

543
00:24:04,800 --> 00:24:06,639
Speaker 4: all about strategy at the end of the day, and

544
00:24:06,720 --> 00:24:09,560
Speaker 4: most people don't lead with strategy. Most people lead with emotion.

545
00:24:10,200 --> 00:24:12,560
Speaker 4: And this is business at the end of the day.

546
00:24:12,720 --> 00:24:15,320
Speaker 4: Like you know, I try to coach all my my

547
00:24:15,520 --> 00:24:18,560
Speaker 4: buyers think business. I don't care if you're going to

548
00:24:18,600 --> 00:24:20,800
Speaker 4: live there. I don't care about any of that stuff.

549
00:24:21,000 --> 00:24:23,200
Speaker 6: Men live, women live. Numbers don't at the end of

550
00:24:23,240 --> 00:24:23,560
Speaker 6: the day.

551
00:24:23,560 --> 00:24:26,280
Speaker 4: And if you're telling me your goals are to invest

552
00:24:26,320 --> 00:24:29,000
Speaker 4: in are to invest in real estate, then you need

553
00:24:29,080 --> 00:24:31,920
Speaker 4: to think like an investor. Every first time home buyer

554
00:24:32,000 --> 00:24:34,879
Speaker 4: should be thinking like an investor. Why go buy the flip?

555
00:24:35,560 --> 00:24:38,440
Speaker 4: Why when there's programs out there for the first time

556
00:24:38,480 --> 00:24:40,120
Speaker 4: home buy like an f h A two or three

557
00:24:40,200 --> 00:24:42,840
Speaker 4: k long or Fanny Made Homestyle loan where you can

558
00:24:42,880 --> 00:24:44,720
Speaker 4: get renovation and your mortgage money.

559
00:24:44,680 --> 00:24:47,520
Speaker 6: All in one, all in one loan. So why not

560
00:24:47,640 --> 00:24:50,800
Speaker 6: going by look, we spoke about Envy and Cason.

561
00:24:51,080 --> 00:24:54,440
Speaker 4: These guys are not buying the flip, right, They're going

562
00:24:54,440 --> 00:24:56,520
Speaker 4: ahead and they're buying at the foreclosure auctions.

563
00:24:56,520 --> 00:24:57,600
Speaker 6: They're buying short sales.

564
00:24:57,640 --> 00:25:00,320
Speaker 4: They buy the worst house in the best the best

565
00:25:00,400 --> 00:25:02,640
Speaker 4: areas that they can and they're putting that money into

566
00:25:02,720 --> 00:25:05,840
Speaker 4: it and now they're making their roy Why can't every

567
00:25:05,880 --> 00:25:07,639
Speaker 4: first time home buy I think the same way like

568
00:25:07,720 --> 00:25:10,520
Speaker 4: the investor. Why does the nbs and the seasons of

569
00:25:10,560 --> 00:25:12,720
Speaker 4: the world need to make all the money. Why can't

570
00:25:12,760 --> 00:25:15,800
Speaker 4: the first time home buy have that same strategy and

571
00:25:15,920 --> 00:25:17,800
Speaker 4: make the same returns. But you're gonna live in it

572
00:25:17,880 --> 00:25:20,000
Speaker 4: for a year, two years, three years, whatever the case

573
00:25:20,080 --> 00:25:24,000
Speaker 4: may be. But now you're buying under market. That's the whole.

574
00:25:24,080 --> 00:25:26,760
Speaker 2: So you would encourage anybody to go into buying a

575
00:25:26,800 --> 00:25:29,240
Speaker 2: home as an investment. Like, even if somebody doesn't necessarily

576
00:25:29,240 --> 00:25:31,840
Speaker 2: look at themselves a real estate investor, I guess they

577
00:25:31,880 --> 00:25:33,919
Speaker 2: are a real estate investor by absolutely buying home your

578
00:25:33,960 --> 00:25:37,440
Speaker 2: investor investment. Whether you think you're investor or not, you're investment.

579
00:25:37,560 --> 00:25:38,359
Speaker 6: You're investing or not.

580
00:25:38,520 --> 00:25:41,439
Speaker 4: So some people will tell you out there that your

581
00:25:41,520 --> 00:25:43,679
Speaker 4: primary residence or a single family home is not an

582
00:25:43,720 --> 00:25:47,840
Speaker 4: investment because it doesn't generate cash flow, right, which is true.

583
00:25:47,920 --> 00:25:50,120
Speaker 4: But to me, I don't think that's one hundred percent

584
00:25:50,200 --> 00:25:53,400
Speaker 4: trul because you're looking at that equity, right. That equity

585
00:25:53,520 --> 00:25:55,840
Speaker 4: is what that first time home buyer should be paying

586
00:25:55,840 --> 00:25:58,600
Speaker 4: attention to. And when that equity gets to a certain position,

587
00:25:58,760 --> 00:26:01,560
Speaker 4: you need to thing it. You need to do something

588
00:26:01,600 --> 00:26:05,119
Speaker 4: with it, because equity is monopoly money. It's not guaranteed.

589
00:26:05,280 --> 00:26:08,320
Speaker 4: The market crash twelve years ago, right when every home

590
00:26:08,480 --> 00:26:11,520
Speaker 4: was depreciating across America. So if that doesn't tell people

591
00:26:11,600 --> 00:26:13,760
Speaker 4: that equity is monopoly money, I don't know what's going

592
00:26:13,840 --> 00:26:15,760
Speaker 4: to tell them. So I have people right now that

593
00:26:15,920 --> 00:26:19,639
Speaker 4: may purchase a home in twenty eleven, twenty twelve. Now

594
00:26:19,680 --> 00:26:21,879
Speaker 4: they may have two hundred three hundred thousand equity and

595
00:26:21,920 --> 00:26:22,680
Speaker 4: they don't want to touch it.

596
00:26:22,720 --> 00:26:23,960
Speaker 6: I'm like, what are you doing?

597
00:26:24,680 --> 00:26:26,879
Speaker 4: You need to take that money and do something with

598
00:26:27,040 --> 00:26:30,040
Speaker 4: it because if the market corrects itself, which it will

599
00:26:30,200 --> 00:26:32,480
Speaker 4: at some point, now, you're going to kick yourself that.

600
00:26:32,680 --> 00:26:36,199
Speaker 6: You didn't jump in the game. Take earners, what's up?

601
00:26:36,320 --> 00:26:38,720
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602
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603
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Speaker 3: tipping is a breeze, and you're out the door before

604
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Speaker 4: Get money to invest in these opportunities, zones right and

648
00:29:27,680 --> 00:29:31,320
Speaker 4: build that generational well for yourself. Because the market doesn't

649
00:29:31,400 --> 00:29:33,680
Speaker 4: care about what's going on on the market is going

650
00:29:33,760 --> 00:29:35,440
Speaker 4: to do what the market wants to do. So what

651
00:29:35,640 --> 00:29:38,680
Speaker 4: I try to coach all my buyers, my sellers, my

652
00:29:38,800 --> 00:29:43,200
Speaker 4: current homeowners whoever, don't let equity sit there because it's

653
00:29:43,240 --> 00:29:43,920
Speaker 4: not guaranteed.

654
00:29:44,320 --> 00:29:45,160
Speaker 6: You got to use it.

655
00:29:45,280 --> 00:29:47,600
Speaker 4: If you don't use it, then it's not it's nothing.

656
00:29:48,440 --> 00:29:53,320
Speaker 4: It's monopoly money that's rue. Don't the single family home

657
00:29:53,400 --> 00:29:55,280
Speaker 4: is great, and I don't have nothing against the single

658
00:29:55,320 --> 00:29:59,240
Speaker 4: family home, but I think the strategy moving forward should

659
00:29:59,280 --> 00:30:02,120
Speaker 4: be multi fans. The first single families laid it down

660
00:30:02,120 --> 00:30:04,240
Speaker 4: the road because you can always buy a single family home.

661
00:30:04,400 --> 00:30:06,560
Speaker 4: There's never going to be a shortage of that. Look,

662
00:30:06,560 --> 00:30:09,719
Speaker 4: what's happening in housing is expensive. Rents are going up.

663
00:30:10,240 --> 00:30:12,680
Speaker 4: The rental market is booming right now. So why not

664
00:30:12,840 --> 00:30:16,640
Speaker 4: put yourself in that position to be our owner occupied

665
00:30:16,760 --> 00:30:20,760
Speaker 4: landlord where you can basically live for free. Now have

666
00:30:20,920 --> 00:30:23,320
Speaker 4: your job, Now you can save all that money to

667
00:30:23,440 --> 00:30:24,600
Speaker 4: reinvest into other realms.

668
00:30:24,640 --> 00:30:26,480
Speaker 2: I think it goes back to where our guests last

669
00:30:26,520 --> 00:30:27,960
Speaker 2: week talked about as far as a lot of times

670
00:30:28,000 --> 00:30:31,000
Speaker 2: we care about how we're perceived exactly, and it's like, Okay,

671
00:30:31,560 --> 00:30:34,360
Speaker 2: well how would I look living in a three family home.

672
00:30:34,480 --> 00:30:37,160
Speaker 2: I'd rather have the white picket fence with your back

673
00:30:37,200 --> 00:30:37,560
Speaker 2: yard and.

674
00:30:37,520 --> 00:30:39,880
Speaker 6: All that well, with the Mercedes outside.

675
00:30:42,760 --> 00:30:45,400
Speaker 2: When you look at it from a financial standpoint, from

676
00:30:45,400 --> 00:30:47,960
Speaker 2: a lot of different reasons, it does make sense.

677
00:30:48,040 --> 00:30:51,120
Speaker 6: Oh absolutely. And the piggyback off of episode eleven, which.

678
00:30:51,000 --> 00:30:55,320
Speaker 4: Was a phenomenal, phenomenal, phenomenal phenomenal episode. So if you

679
00:30:55,360 --> 00:30:57,880
Speaker 4: guys haven't watched it eleven, you need to watch that

680
00:30:58,040 --> 00:31:00,960
Speaker 4: before you watch this all the other ten two.

681
00:31:01,200 --> 00:31:03,520
Speaker 2: But episode eleven was fire.

682
00:31:03,280 --> 00:31:06,800
Speaker 4: Right, So what he brought up a great point, right,

683
00:31:06,920 --> 00:31:10,120
Speaker 4: mixed use properties, which mixed use properties are.

684
00:31:10,040 --> 00:31:11,840
Speaker 6: Common where we are in New York.

685
00:31:12,640 --> 00:31:15,600
Speaker 4: You can use faha long to purchase a mixed use property,

686
00:31:15,640 --> 00:31:17,760
Speaker 4: which a lot of people don't know and put down

687
00:31:17,840 --> 00:31:20,920
Speaker 4: during a half percent as long as fifty one percent

688
00:31:21,120 --> 00:31:24,040
Speaker 4: of that mixed use is residential. So you can go

689
00:31:24,160 --> 00:31:26,720
Speaker 4: ahead and buy that mixed use that may have a storefront,

690
00:31:26,760 --> 00:31:30,400
Speaker 4: but two apartments or three apartments as residential. And if

691
00:31:30,440 --> 00:31:32,320
Speaker 4: you're a business owner, if you're like he said, he

692
00:31:32,520 --> 00:31:35,320
Speaker 4: runs a restaurant, now he can live in that one

693
00:31:35,400 --> 00:31:38,040
Speaker 4: of the units, have the restaurant and still have two

694
00:31:38,160 --> 00:31:41,479
Speaker 4: rental incomes coming in to help support everything.

695
00:31:41,560 --> 00:31:42,400
Speaker 6: Now living for free.

696
00:31:42,520 --> 00:31:45,280
Speaker 4: His business is for free, and the mortgage is being

697
00:31:45,320 --> 00:31:47,239
Speaker 4: paid off, and you can use the two or three

698
00:31:47,320 --> 00:31:48,320
Speaker 4: k long to renovate it.

699
00:31:48,400 --> 00:31:50,880
Speaker 6: So you can go buy the piece of shit mixed

700
00:31:50,960 --> 00:31:52,800
Speaker 6: use property and use.

701
00:31:52,680 --> 00:31:54,960
Speaker 4: That renovation money is to fix it up, clean it

702
00:31:55,080 --> 00:31:57,000
Speaker 4: up and open up a business or rent it out

703
00:31:57,040 --> 00:31:59,760
Speaker 4: to another business, own up the commercial aspect of it.

704
00:32:00,040 --> 00:32:02,880
Speaker 4: And now commercial rents are much higher than residential rents.

705
00:32:03,280 --> 00:32:06,360
Speaker 4: So again, living in for one year, now you move out.

706
00:32:06,560 --> 00:32:10,280
Speaker 4: Now you have a commercial property all under three and

707
00:32:10,320 --> 00:32:12,880
Speaker 4: a half under an FHA loan with three and a

708
00:32:12,880 --> 00:32:13,200
Speaker 4: half per.

709
00:32:13,160 --> 00:32:14,600
Speaker 6: Cent down plus your closing costs.

710
00:32:14,600 --> 00:32:16,120
Speaker 4: You got to know the game, man, You gotta know

711
00:32:16,640 --> 00:32:19,200
Speaker 4: it's all about It's all about strategy. And most people,

712
00:32:19,560 --> 00:32:22,000
Speaker 4: especially listen, we're in the age of the business owner

713
00:32:22,040 --> 00:32:22,760
Speaker 4: the entrepreneur.

714
00:32:22,920 --> 00:32:23,040
Speaker 2: Right.

715
00:32:23,400 --> 00:32:26,000
Speaker 4: Most people don't think you still need a brick and mortar,

716
00:32:26,040 --> 00:32:28,760
Speaker 4: but some businesses you need a brick and mortar, right,

717
00:32:28,840 --> 00:32:31,360
Speaker 4: depending on if you're in a service industry or whatever

718
00:32:31,440 --> 00:32:32,880
Speaker 4: the case may be. If you're in retail, if you

719
00:32:32,920 --> 00:32:35,000
Speaker 4: want to open up a store or restaurant, like you said,

720
00:32:35,000 --> 00:32:36,920
Speaker 4: it's one of the toughest businesses because.

721
00:32:36,720 --> 00:32:39,120
Speaker 6: The overhead right and rent is a big thing.

722
00:32:39,600 --> 00:32:42,320
Speaker 4: But if you have a mixed use property and you

723
00:32:42,360 --> 00:32:45,200
Speaker 4: want to open up a restaurant, why not use that

724
00:32:45,280 --> 00:32:48,200
Speaker 4: as your primary residents also for at least twelve months.

725
00:32:48,280 --> 00:32:52,360
Speaker 4: For that twelve month sacrifice, get the loan living there

726
00:32:52,400 --> 00:32:54,440
Speaker 4: because you always can move out. And now you have

727
00:32:55,520 --> 00:32:59,440
Speaker 4: a business that's basically in there for free because you

728
00:32:59,520 --> 00:33:02,720
Speaker 4: let so you get you know, you're killing two birds

729
00:33:02,720 --> 00:33:05,200
Speaker 4: with one stone speak. You get rental and your business

730
00:33:05,280 --> 00:33:07,880
Speaker 4: in there, and your your business is not going to

731
00:33:07,960 --> 00:33:11,000
Speaker 4: have all that overhead of the pressure of paying the

732
00:33:11,080 --> 00:33:13,080
Speaker 4: rent because you know what, it's your mortgage and your

733
00:33:13,120 --> 00:33:14,360
Speaker 4: tenants are paying for it upstairs.

734
00:33:15,240 --> 00:33:16,880
Speaker 6: So it's all about strategy.

735
00:33:16,560 --> 00:33:16,880
Speaker 5: All right.

736
00:33:17,000 --> 00:33:19,120
Speaker 2: So now we're going it's not all good in real estate.

737
00:33:19,160 --> 00:33:23,280
Speaker 2: It's never always a dangerous Now we're going we're going

738
00:33:23,320 --> 00:33:29,280
Speaker 2: to explain that how things can go wrong, all right. So,

739
00:33:30,040 --> 00:33:32,320
Speaker 2: as I said, it's never all good in anything in life.

740
00:33:32,440 --> 00:33:32,560
Speaker 5: Right.

741
00:33:33,280 --> 00:33:38,719
Speaker 2: So real estate is something that's very popular, very trendy

742
00:33:38,960 --> 00:33:41,400
Speaker 2: right now, and it's very it has this stigma I

743
00:33:41,520 --> 00:33:44,000
Speaker 2: think of everybody thinks they're just gonna get rich overnight, right,

744
00:33:44,000 --> 00:33:46,640
Speaker 2: and people don't know it's like any business. You know,

745
00:33:46,800 --> 00:33:48,800
Speaker 2: when you go into business without a plan, your destined

746
00:33:48,800 --> 00:33:50,800
Speaker 2: to faiel. Right, So if you plan to be a

747
00:33:50,840 --> 00:33:53,080
Speaker 2: real estate investor. And as you said, whether you think

748
00:33:53,120 --> 00:33:55,000
Speaker 2: you're investor or not, if you're buying a home, you're

749
00:33:55,000 --> 00:33:57,920
Speaker 2: an investor. But you don't have a plan in place,

750
00:33:58,000 --> 00:34:01,400
Speaker 2: then you're gonna aid probably make mistakes and worst Populica scenario,

751
00:34:01,440 --> 00:34:02,040
Speaker 2: you're gonna fail.

752
00:34:02,360 --> 00:34:02,680
Speaker 6: Correct.

753
00:34:02,720 --> 00:34:05,200
Speaker 2: Right, So this dudes and don'ts involve, right?

754
00:34:05,320 --> 00:34:05,760
Speaker 6: Absolutely?

755
00:34:05,800 --> 00:34:09,239
Speaker 2: Can you just talk about some dudes and don'ts in game?

756
00:34:09,400 --> 00:34:11,480
Speaker 4: Yeah, there's tons of them. Right, But if your first

757
00:34:11,520 --> 00:34:13,920
Speaker 4: time home by one of the don'ts I tell people

758
00:34:14,080 --> 00:34:18,239
Speaker 4: is especially if you're in the application process, you found

759
00:34:18,280 --> 00:34:22,920
Speaker 4: the house, you're in contract, don't open new debt, don't

760
00:34:23,360 --> 00:34:26,479
Speaker 4: buy your Mercedes bends before you go to closing. Don't

761
00:34:26,600 --> 00:34:29,959
Speaker 4: change your jobs, you know, don't do something that would

762
00:34:30,200 --> 00:34:33,280
Speaker 4: impact you in a negative way to turn your approval

763
00:34:33,680 --> 00:34:36,600
Speaker 4: to a decline. Right, And most people you think is

764
00:34:36,680 --> 00:34:40,399
Speaker 4: common sense, right, but common sense is not common Unfortunately

765
00:34:40,480 --> 00:34:41,160
Speaker 4: they're not true.

766
00:34:41,520 --> 00:34:43,879
Speaker 3: Most people like they don't realize, Like when you apply

767
00:34:44,000 --> 00:34:46,080
Speaker 3: for a card, they do a credit check, then they

768
00:34:46,120 --> 00:34:47,080
Speaker 3: have to put your credit.

769
00:34:47,280 --> 00:34:48,000
Speaker 6: That they don't realize.

770
00:34:48,040 --> 00:34:49,839
Speaker 4: When you go for a car, they may pull your

771
00:34:49,880 --> 00:34:52,600
Speaker 4: credit with ten other banks to shop right, to see

772
00:34:52,640 --> 00:34:56,000
Speaker 4: what's the best deal for that for the auto finance company,

773
00:34:56,080 --> 00:34:56,640
Speaker 4: not for you.

774
00:34:57,520 --> 00:34:58,320
Speaker 6: As the consumer.

775
00:34:58,440 --> 00:35:00,520
Speaker 5: Right now, that affects your credit score, affects your.

776
00:35:00,440 --> 00:35:01,560
Speaker 6: Credit card, brings you down.

777
00:35:01,600 --> 00:35:04,440
Speaker 4: I mean, I've had situations where people applied and purchase

778
00:35:04,480 --> 00:35:07,680
Speaker 4: Mercedes Benz a week before closing. I've had people who

779
00:35:07,760 --> 00:35:10,799
Speaker 4: got cold credit cards just because it was colds box

780
00:35:10,880 --> 00:35:11,600
Speaker 4: involved and.

781
00:35:13,360 --> 00:35:13,800
Speaker 6: Savings.

782
00:35:13,960 --> 00:35:15,880
Speaker 4: You know what I'm saying, Well, I'm like, what are

783
00:35:15,880 --> 00:35:17,720
Speaker 4: you doing? You couldn't wait to get the bed sees

784
00:35:18,320 --> 00:35:21,200
Speaker 4: the house yet, so you don't. What I try to

785
00:35:21,239 --> 00:35:24,759
Speaker 4: tell people is this, when you're in contract, you don't

786
00:35:24,800 --> 00:35:27,359
Speaker 4: own that house just because you're in contract, just because

787
00:35:27,400 --> 00:35:28,360
Speaker 4: you have a loan commitment.

788
00:35:28,680 --> 00:35:29,520
Speaker 6: Do not get happy.

789
00:35:29,600 --> 00:35:32,160
Speaker 4: Do not make any changes that can affect you in

790
00:35:32,239 --> 00:35:35,359
Speaker 4: a negative way, because you can get declined just as

791
00:35:35,440 --> 00:35:37,719
Speaker 4: quick as you got to prove right, and the underwriters

792
00:35:37,760 --> 00:35:40,320
Speaker 4: are always looking for a reason to decline you. So

793
00:35:40,760 --> 00:35:43,640
Speaker 4: you have to be squeaky clean. Don't be moving money around.

794
00:35:43,680 --> 00:35:44,520
Speaker 4: That's another big thing.

795
00:35:44,800 --> 00:35:46,200
Speaker 6: Do not move money around.

796
00:35:46,600 --> 00:35:48,840
Speaker 4: Keep your money in one account. Stop doing your so

797
00:35:49,080 --> 00:35:51,800
Speaker 4: suits and putting here and doing this and doing that.

798
00:35:52,040 --> 00:35:53,279
Speaker 6: You know what I'm saying, don't do it.

799
00:35:53,400 --> 00:35:56,520
Speaker 4: Don't put the mattress money in there, No like leave

800
00:35:56,560 --> 00:36:00,360
Speaker 4: your accounts alone, because now we start seeing money move around,

801
00:36:00,400 --> 00:36:02,840
Speaker 4: that's red flags. Now we have to document, We have

802
00:36:02,920 --> 00:36:04,440
Speaker 4: to see where this money is coming from. If you

803
00:36:04,520 --> 00:36:07,400
Speaker 4: can't document that money, then we can't use it right,

804
00:36:07,440 --> 00:36:08,719
Speaker 4: and that can blow up your deal too.

805
00:36:09,120 --> 00:36:13,320
Speaker 6: So the don'ts is it's just keep still, you know,

806
00:36:14,000 --> 00:36:15,600
Speaker 6: keep still, relaxed.

807
00:36:15,760 --> 00:36:17,799
Speaker 4: You're almost at the closing table, and when you close,

808
00:36:17,840 --> 00:36:19,279
Speaker 4: you can do whatever the hell you want to do.

809
00:36:19,520 --> 00:36:19,680
Speaker 5: Right.

810
00:36:20,520 --> 00:36:23,959
Speaker 4: Another one of the don'ts I would say for first

811
00:36:24,000 --> 00:36:27,080
Speaker 4: time investors, right, stop thinking you don't need money.

812
00:36:27,800 --> 00:36:29,239
Speaker 6: You need money right.

813
00:36:29,360 --> 00:36:31,920
Speaker 4: If you're looking to wholesale real estate, then maybe you

814
00:36:32,040 --> 00:36:34,799
Speaker 4: don't need money right because you're signing contracts. But if

815
00:36:34,840 --> 00:36:36,879
Speaker 4: you're looking to do buy and flips, or if you're

816
00:36:36,880 --> 00:36:39,800
Speaker 4: looking to do buy and holds, you're going to need capital.

817
00:36:40,160 --> 00:36:40,279
Speaker 2: Right.

818
00:36:40,400 --> 00:36:42,480
Speaker 4: There's many ways you can get capital. I mean, you

819
00:36:42,560 --> 00:36:44,479
Speaker 4: spoke about it at my workshop. You can do self

820
00:36:44,520 --> 00:36:47,320
Speaker 4: directed iraise, you can borrow from your four one K,

821
00:36:47,600 --> 00:36:50,960
Speaker 4: you you can raise capital with a group of friends.

822
00:36:51,680 --> 00:36:54,440
Speaker 4: What I'm starting to see right now is becoming more popular.

823
00:36:54,480 --> 00:36:57,239
Speaker 4: But people are co owning properties together, you know, moving

824
00:36:57,280 --> 00:36:59,520
Speaker 4: into multi families working together.

825
00:36:59,600 --> 00:37:02,240
Speaker 6: You know, lot of different cultures co own, right.

826
00:37:02,120 --> 00:37:05,000
Speaker 2: But can you talk about that collaboration because I'm talking

827
00:37:05,000 --> 00:37:07,759
Speaker 2: about collaboration in business absolutely, actually last week so now,

828
00:37:07,840 --> 00:37:12,359
Speaker 2: But collaboration and real estate, yeah, something that is very key,

829
00:37:12,719 --> 00:37:15,520
Speaker 2: very important leverage. Can you just talk about that. Yeah?

830
00:37:15,560 --> 00:37:16,040
Speaker 6: Absolutely.

831
00:37:16,120 --> 00:37:19,680
Speaker 4: Our collaboration is greater than competition. I speak about this often.

832
00:37:20,120 --> 00:37:23,440
Speaker 4: That's why we're here right now, because we're collaborating because

833
00:37:23,480 --> 00:37:25,440
Speaker 4: it doesn't make sense to compete when we all have

834
00:37:25,640 --> 00:37:27,640
Speaker 4: something that we could bring to the table. So if

835
00:37:27,680 --> 00:37:30,239
Speaker 4: your first time home buyer, let's just say your brother

836
00:37:30,680 --> 00:37:32,440
Speaker 4: is a first time home buy and you both want

837
00:37:32,480 --> 00:37:34,239
Speaker 4: to be in that same area, why go by two

838
00:37:34,320 --> 00:37:36,640
Speaker 4: single failings? Why not go buy a full family together,

839
00:37:37,040 --> 00:37:39,280
Speaker 4: live on each floor, and now you have two rental incomes,

840
00:37:39,400 --> 00:37:41,279
Speaker 4: and now you both can probably live for free or

841
00:37:41,360 --> 00:37:45,040
Speaker 4: pay minimum together. Now you can split that equity when

842
00:37:45,040 --> 00:37:46,919
Speaker 4: it's time to sell or buy each other out.

843
00:37:47,239 --> 00:37:49,799
Speaker 6: With real estate investing, you don't need to be one

844
00:37:49,880 --> 00:37:50,719
Speaker 6: hundred percent owner.

845
00:37:50,800 --> 00:37:53,560
Speaker 4: I think that's the biggest misconception that people think, like,

846
00:37:53,640 --> 00:37:56,600
Speaker 4: if you're going to we all can we can collaborate

847
00:37:56,760 --> 00:38:01,320
Speaker 4: and create a business structure a joint venture business structure.

848
00:38:01,200 --> 00:38:02,160
Speaker 6: And put our money up.

849
00:38:02,200 --> 00:38:04,960
Speaker 4: And it doesn't have to be equal, right, as long

850
00:38:04,960 --> 00:38:06,799
Speaker 4: as it egals to one hundred percent at the end

851
00:38:06,800 --> 00:38:08,480
Speaker 4: of the day, that's all that matters. You can be

852
00:38:08,600 --> 00:38:11,240
Speaker 4: eighty percent own and we can both have ten percent ownership,

853
00:38:11,320 --> 00:38:13,640
Speaker 4: right because we're bringing something to the table, but that

854
00:38:13,680 --> 00:38:17,320
Speaker 4: would be our portion of the net rental income or

855
00:38:17,520 --> 00:38:21,799
Speaker 4: of the proceeds after sale, eighty percent of you because

856
00:38:21,800 --> 00:38:24,960
Speaker 4: you're bringing the capitol, right, But we may be the operators,

857
00:38:25,280 --> 00:38:27,080
Speaker 4: and you don't know how to operate, right. So it's

858
00:38:27,200 --> 00:38:29,320
Speaker 4: all a matter of what do you bring to the

859
00:38:29,400 --> 00:38:33,799
Speaker 4: table to collaborate to make yourself valuable for where someone

860
00:38:33,880 --> 00:38:36,080
Speaker 4: wants to put you included into that business.

861
00:38:36,200 --> 00:38:38,800
Speaker 5: And you said something important, you said coachally, you're not

862
00:38:38,880 --> 00:38:39,600
Speaker 5: seeing that happen.

863
00:38:39,719 --> 00:38:41,919
Speaker 6: No, it doesn't happen as the cultures we have ego.

864
00:38:42,120 --> 00:38:45,000
Speaker 5: Yeah, from a client based standpoint, what are you seeing

865
00:38:45,080 --> 00:38:45,400
Speaker 5: out there?

866
00:38:45,520 --> 00:38:45,560
Speaker 3: Like?

867
00:38:46,239 --> 00:38:47,759
Speaker 5: Why what's holding us back?

868
00:38:47,920 --> 00:38:50,320
Speaker 4: We hold ourselves back, you know what I'm saying, Like

869
00:38:50,480 --> 00:38:53,120
Speaker 4: we want to be the top shotter, we want to

870
00:38:53,160 --> 00:38:56,280
Speaker 4: be the midln This is mind right. We have that ego,

871
00:38:56,440 --> 00:39:00,360
Speaker 4: that mentality, that that fucking sense of entitlement that we

872
00:39:00,560 --> 00:39:02,920
Speaker 4: deserve everything under the blue.

873
00:39:02,760 --> 00:39:03,600
Speaker 6: Sun, which we do.

874
00:39:03,960 --> 00:39:06,799
Speaker 4: But if you ain't working hard towards it, then why

875
00:39:06,880 --> 00:39:09,200
Speaker 4: you have this sense of entitlement? For number one, But

876
00:39:09,680 --> 00:39:12,799
Speaker 4: I don't know why we don't collaborate more. It's sad

877
00:39:13,239 --> 00:39:15,800
Speaker 4: that I see a lot of people in our community

878
00:39:16,200 --> 00:39:18,920
Speaker 4: are not collaborating. But also on the flip side, when

879
00:39:18,920 --> 00:39:21,640
Speaker 4: I'm starting to notice the trend, especially if you look

880
00:39:21,680 --> 00:39:24,320
Speaker 4: at you know, what they call black Twitter, black social media,

881
00:39:24,680 --> 00:39:26,759
Speaker 4: You're starting to see the uplifting. You're starting to see

882
00:39:26,760 --> 00:39:29,320
Speaker 4: people coming together and starting to do more together. So

883
00:39:29,440 --> 00:39:32,680
Speaker 4: I think that cycle is going to start getting broke down.

884
00:39:33,880 --> 00:39:36,920
Speaker 4: From our ownership perspective, I'm starting to see family members

885
00:39:36,960 --> 00:39:40,080
Speaker 4: now in our community buying homes together, you know, living

886
00:39:40,120 --> 00:39:42,560
Speaker 4: in the homes together. You know, you don't need, you know,

887
00:39:42,719 --> 00:39:45,279
Speaker 4: to have a five thousand square foot home and it's

888
00:39:45,360 --> 00:39:48,080
Speaker 4: just you and your girlfriend right now. If you and

889
00:39:48,160 --> 00:39:51,319
Speaker 4: your girlfriend, the parents can all move in even if

890
00:39:51,320 --> 00:39:52,960
Speaker 4: you want to get the single feeling right, you know what,

891
00:39:53,080 --> 00:39:55,680
Speaker 4: we split in that mortgage four ways. Now it's more affordable,

892
00:39:55,719 --> 00:39:58,000
Speaker 4: and now we're able to save more and invest together.

893
00:39:58,480 --> 00:40:00,399
Speaker 3: So I think that, I mean, that's a person story

894
00:40:00,440 --> 00:40:03,279
Speaker 3: for me, like that literally is my mouth model right now.

895
00:40:03,400 --> 00:40:06,239
Speaker 3: Like I own a home with my dad, and it's

896
00:40:06,280 --> 00:40:08,719
Speaker 3: easier for us because obviously it lessens a burden on me,

897
00:40:08,840 --> 00:40:10,960
Speaker 3: but it also puts me in a position that whereas

898
00:40:11,520 --> 00:40:13,440
Speaker 3: you know, they're older in age, it's easy for me

899
00:40:13,520 --> 00:40:16,480
Speaker 3: to take care of Rather than having them grow in

900
00:40:16,560 --> 00:40:18,600
Speaker 3: age and having them put them in or having them.

901
00:40:18,520 --> 00:40:20,799
Speaker 5: Go into a home, they're here, I can take care

902
00:40:20,840 --> 00:40:22,360
Speaker 5: of them and it works.

903
00:40:22,960 --> 00:40:25,000
Speaker 6: No, I think it's I think it's a it's a

904
00:40:25,080 --> 00:40:31,000
Speaker 6: perfect situation for you to co own. I know, someone

905
00:40:31,080 --> 00:40:31,560
Speaker 6: like myself.

906
00:40:31,600 --> 00:40:34,960
Speaker 4: When I've purchased my first home thirteen fourteen years ago,

907
00:40:35,880 --> 00:40:36,960
Speaker 4: I didn't want to live with nobody.

908
00:40:36,960 --> 00:40:37,520
Speaker 6: You kidding me?

909
00:40:38,040 --> 00:40:40,000
Speaker 4: Forgot to have nobody's going to live with me? Right,

910
00:40:40,480 --> 00:40:43,640
Speaker 4: But now as I've grown older and I'm matured, it's

911
00:40:43,719 --> 00:40:45,560
Speaker 4: more so like, you know what, that's the best way

912
00:40:45,640 --> 00:40:49,120
Speaker 4: to do it, because people just can't afford to live

913
00:40:49,239 --> 00:40:49,719
Speaker 4: on their own.

914
00:40:49,800 --> 00:40:50,080
Speaker 5: No more.

915
00:40:50,239 --> 00:40:52,880
Speaker 4: People are struggling. People are living paycheck to paycheck. In

916
00:40:52,960 --> 00:40:55,240
Speaker 4: New York, if you're making one hundred k, you're broke.

917
00:40:56,080 --> 00:40:58,160
Speaker 4: I'm starting to see a lot more in our community

918
00:40:58,200 --> 00:41:00,399
Speaker 4: where people are co on it because people just don't

919
00:41:00,480 --> 00:41:04,040
Speaker 4: they don't have that the resources. You know, we qualify

920
00:41:04,120 --> 00:41:07,360
Speaker 4: people off your gross income, right, but you live your

921
00:41:07,400 --> 00:41:10,000
Speaker 4: life off your net income, and if you make one

922
00:41:10,080 --> 00:41:13,280
Speaker 4: hundred k gross, that's really like fifty five sixty thousand net.

923
00:41:13,360 --> 00:41:16,160
Speaker 6: Depend on what state, right, depending on taxes or what

924
00:41:16,280 --> 00:41:17,080
Speaker 6: state you're in. Right.

925
00:41:17,160 --> 00:41:19,440
Speaker 4: But if you're talking about thirty five forty percent, if

926
00:41:19,480 --> 00:41:22,560
Speaker 4: you're making that type of money, I mean, that's what

927
00:41:22,640 --> 00:41:24,040
Speaker 4: we're qualify with, confie off.

928
00:41:24,160 --> 00:41:24,879
Speaker 6: That bigger number.

929
00:41:24,960 --> 00:41:27,880
Speaker 4: So for me, it's like if you can barely qualify,

930
00:41:28,000 --> 00:41:31,720
Speaker 4: you're add a max debt to income ratio of gross income.

931
00:41:31,840 --> 00:41:34,480
Speaker 4: You really can't afford it because you're not taking consideration

932
00:41:35,120 --> 00:41:39,239
Speaker 4: your your auto insurance, your childcare, you know, things of

933
00:41:39,320 --> 00:41:41,560
Speaker 4: that nature that don't report on your credit reports. So

934
00:41:41,719 --> 00:41:44,120
Speaker 4: you have to be smart, is what the message that

935
00:41:44,239 --> 00:41:47,000
Speaker 4: I'm preaching the people now is like, you know, be

936
00:41:47,200 --> 00:41:50,080
Speaker 4: smart about this decision. And that's why I preach multifamily

937
00:41:50,480 --> 00:41:53,920
Speaker 4: and investing as a primary residence versus just buyd a

938
00:41:53,920 --> 00:41:56,560
Speaker 4: single family home because you you really can't afford it,

939
00:41:57,000 --> 00:41:59,879
Speaker 4: you know, and you're a recipe for foreclosure, God forbid,

940
00:42:00,080 --> 00:42:02,040
Speaker 4: Get sick, Go off of it, you get laid off,

941
00:42:02,320 --> 00:42:03,520
Speaker 4: like how are we going to pay your longage?

942
00:42:03,520 --> 00:42:06,000
Speaker 2: And then one of the things before we before we finish,

943
00:42:06,080 --> 00:42:09,279
Speaker 2: is that you had mentioned before off camera that it's

944
00:42:09,280 --> 00:42:12,040
Speaker 2: important to have a strategy. Absolutely, like you go from

945
00:42:12,080 --> 00:42:13,920
Speaker 2: like two to three to four. Can you just kind

946
00:42:13,920 --> 00:42:14,520
Speaker 2: of explain that?

947
00:42:14,800 --> 00:42:18,480
Speaker 4: Yeah, I mean, listen, everything is strategy, no matter your

948
00:42:18,520 --> 00:42:22,000
Speaker 4: first time, first time home buyer, you buy your second home,

949
00:42:22,080 --> 00:42:23,800
Speaker 4: move up home, you got to have a strategy.

950
00:42:23,960 --> 00:42:26,560
Speaker 6: Right. For tax purposes, you need a tax strategy.

951
00:42:26,600 --> 00:42:29,920
Speaker 4: That's why I speak a lot about tax strategy, insurance strategies.

952
00:42:30,200 --> 00:42:32,000
Speaker 6: We've had that conversation several times.

953
00:42:32,640 --> 00:42:34,120
Speaker 2: So what I try to tell.

954
00:42:34,000 --> 00:42:38,640
Speaker 4: People, go go down right four three to one, because

955
00:42:38,800 --> 00:42:41,160
Speaker 4: if you do it properly, you will be able to

956
00:42:41,320 --> 00:42:44,960
Speaker 4: use minimum downpay for four units four units, three unit,

957
00:42:45,160 --> 00:42:45,800
Speaker 4: two units.

958
00:42:46,000 --> 00:42:49,560
Speaker 2: So the first home should be a four unit home, correct.

959
00:42:49,760 --> 00:42:52,319
Speaker 2: Then you move out of that, you get the three

960
00:42:52,440 --> 00:42:55,160
Speaker 2: unit home, keep the you keep them, but you keep

961
00:42:55,400 --> 00:42:57,319
Speaker 2: keeping it the whole time. Keeping. Then you go from

962
00:42:57,400 --> 00:43:00,279
Speaker 2: three to two. Yeah, and then now you can buy

963
00:43:00,320 --> 00:43:04,640
Speaker 2: your dream home. Now you can buy your dream homes. Yeah,

964
00:43:04,680 --> 00:43:05,440
Speaker 2: that's paying for it.

965
00:43:05,640 --> 00:43:08,560
Speaker 4: You got to drink about it, right, you just accumulated

966
00:43:08,680 --> 00:43:12,399
Speaker 4: probably what's that seven, nine, nine doors in a matter

967
00:43:12,480 --> 00:43:14,640
Speaker 4: of a couple of years. So if you're making five

968
00:43:14,760 --> 00:43:19,239
Speaker 4: hundred dollars profit a door, you know, now your single

969
00:43:19,320 --> 00:43:21,440
Speaker 4: family dream home is paid for.

970
00:43:22,040 --> 00:43:23,040
Speaker 5: It's really your dream home.

971
00:43:23,120 --> 00:43:26,080
Speaker 4: It's not like it's not what I can afford right now.

972
00:43:26,200 --> 00:43:28,560
Speaker 4: It's like we sacrifice for the first five years of

973
00:43:28,760 --> 00:43:32,640
Speaker 4: our real estate journey, right and we went multi families

974
00:43:32,680 --> 00:43:35,319
Speaker 4: and moved our way down, and we did it strategically.

975
00:43:35,400 --> 00:43:38,680
Speaker 4: We're not sitting here buying in the best neighborhood when

976
00:43:38,680 --> 00:43:39,640
Speaker 4: we're buying our multis.

977
00:43:39,680 --> 00:43:41,000
Speaker 2: We're buying areas that.

978
00:43:41,080 --> 00:43:43,759
Speaker 4: We can feel comfortable and safe and living for a year,

979
00:43:44,160 --> 00:43:46,160
Speaker 4: and then we're moving out and moving into a little

980
00:43:46,160 --> 00:43:48,680
Speaker 4: bit step up or neighborhood, but going down the units.

981
00:43:48,880 --> 00:43:51,479
Speaker 4: Because from an underwriting perspective, it has to make sense

982
00:43:51,880 --> 00:43:56,080
Speaker 4: for you moving from one multi family to another multi family.

983
00:43:56,160 --> 00:43:58,719
Speaker 4: You can't buy a four family or three family on

984
00:43:58,760 --> 00:44:02,040
Speaker 4: the same block and say moving from one house to another, right,

985
00:44:02,239 --> 00:44:02,880
Speaker 4: that doesn't make it.

986
00:44:02,920 --> 00:44:04,720
Speaker 2: So that's a play like to move to a decent

987
00:44:04,800 --> 00:44:07,120
Speaker 2: neighborhood and just keep moving up in neighborhoods, just keep moving.

988
00:44:07,160 --> 00:44:09,080
Speaker 2: That's another thing too, parent that like, I want to

989
00:44:09,120 --> 00:44:11,320
Speaker 2: move in the best possible neighborhood right away where my

990
00:44:11,440 --> 00:44:13,840
Speaker 2: kid is like one years old because I went to

991
00:44:13,920 --> 00:44:16,080
Speaker 2: school district. But one year is not going to make

992
00:44:16,080 --> 00:44:17,560
Speaker 2: that big difference, right, not at all.

993
00:44:18,160 --> 00:44:19,319
Speaker 5: It's not gonna start to five.

994
00:44:19,680 --> 00:44:21,640
Speaker 4: Listen, the kid is not going to start the five.

995
00:44:21,719 --> 00:44:23,799
Speaker 4: I have a four year old, right, and she's she'll

996
00:44:23,840 --> 00:44:26,600
Speaker 4: be five this year. She's going to kindergarten, right. I

997
00:44:26,719 --> 00:44:31,080
Speaker 4: act her every day with Sha Larne in school, and

998
00:44:31,160 --> 00:44:34,680
Speaker 4: the answer changes every single day, right, like, and then

999
00:44:34,800 --> 00:44:38,359
Speaker 4: sometimes and I have nothing to do with school, like okay, maybe, right,

1000
00:44:38,640 --> 00:44:39,880
Speaker 4: So you got to really think about it.

1001
00:44:39,920 --> 00:44:42,320
Speaker 2: Why are you going to go to that best school district?

1002
00:44:42,400 --> 00:44:45,200
Speaker 4: And then the best school district in our areas come

1003
00:44:45,280 --> 00:44:49,200
Speaker 4: with fifteen to twenty thousand and property taxes, right and

1004
00:44:49,320 --> 00:44:51,640
Speaker 4: now with the new tax laws, you can only ride

1005
00:44:51,680 --> 00:44:52,600
Speaker 4: off ten thousand.

1006
00:44:53,200 --> 00:44:54,960
Speaker 6: You can't ride off the whole amount.

1007
00:44:55,120 --> 00:44:57,759
Speaker 4: The more so everything has to be strategy and you

1008
00:44:57,880 --> 00:44:59,560
Speaker 4: have to know your tax laws and you have to

1009
00:44:59,640 --> 00:45:02,120
Speaker 4: keep up with it, right, So why go to that

1010
00:45:02,239 --> 00:45:04,520
Speaker 4: best neighborhood if you really don't need the school district?

1011
00:45:04,560 --> 00:45:07,120
Speaker 4: Right now, why don't you go to the okay neighborhood

1012
00:45:07,160 --> 00:45:10,040
Speaker 4: that you're safe in. Get the multifamily because while your

1013
00:45:10,120 --> 00:45:12,719
Speaker 4: child is growing, you could be growing too, but in

1014
00:45:12,800 --> 00:45:16,440
Speaker 4: your real estate portfolio. And now when it's time, maybe

1015
00:45:16,480 --> 00:45:18,440
Speaker 4: I don't even think kindergarten you need to be in

1016
00:45:18,480 --> 00:45:19,360
Speaker 4: the best school district.

1017
00:45:19,400 --> 00:45:20,200
Speaker 6: That's just my opinion.

1018
00:45:20,280 --> 00:45:22,520
Speaker 4: Maybe not even until they get to you know, sixth

1019
00:45:22,640 --> 00:45:26,400
Speaker 4: or seventh grade is when their brains really start retaining stuff.

1020
00:45:26,480 --> 00:45:28,920
Speaker 4: In my opinion is now you probably want to go

1021
00:45:29,040 --> 00:45:31,520
Speaker 4: to that best school district, and then by that time,

1022
00:45:31,600 --> 00:45:35,160
Speaker 4: you probably accumulated you know, three four assets.

1023
00:45:35,040 --> 00:45:36,520
Speaker 6: That now can help pay for them.

1024
00:45:36,600 --> 00:45:38,680
Speaker 2: It's the same like with people in private school. A

1025
00:45:38,719 --> 00:45:40,320
Speaker 2: lot of time people will send their private kids to

1026
00:45:40,360 --> 00:45:43,200
Speaker 2: private school in like middle school because they only pay

1027
00:45:43,280 --> 00:45:46,120
Speaker 2: the price of private school in second grade. Yeah, so

1028
00:45:46,239 --> 00:45:48,279
Speaker 2: they save, and then by the time they get to

1029
00:45:48,360 --> 00:45:51,200
Speaker 2: like sixth grade, seventh grade, now they put their kids

1030
00:45:51,239 --> 00:45:52,040
Speaker 2: in private sche.

1031
00:45:52,120 --> 00:45:54,640
Speaker 6: And I have folks that love private school right versus

1032
00:45:54,760 --> 00:45:55,359
Speaker 6: public grade.

1033
00:45:55,400 --> 00:45:57,960
Speaker 4: But then why you're going to buy the house that

1034
00:45:58,200 --> 00:46:02,160
Speaker 4: comes with fifteen thousand taxes if you're not going to

1035
00:46:02,200 --> 00:46:04,319
Speaker 4: send the prother because the majority of your taxes are

1036
00:46:04,360 --> 00:46:06,759
Speaker 4: school taxes. You know, what I'm saying, so like, why

1037
00:46:06,760 --> 00:46:08,560
Speaker 4: are you going to pay out of the fifteen grand,

1038
00:46:08,560 --> 00:46:10,719
Speaker 4: probably ten grand is going to the school, but you're

1039
00:46:10,719 --> 00:46:13,520
Speaker 4: still paying probably ten fifteen k a year in tuition

1040
00:46:14,040 --> 00:46:16,000
Speaker 4: at the same time, So and you can't write it

1041
00:46:16,080 --> 00:46:16,960
Speaker 4: all off no more.

1042
00:46:17,280 --> 00:46:18,239
Speaker 6: So why do it?

1043
00:46:18,400 --> 00:46:18,520
Speaker 5: Right?

1044
00:46:18,600 --> 00:46:20,279
Speaker 4: It doesn't make any sense. Even if you go with

1045
00:46:20,360 --> 00:46:22,440
Speaker 4: the Star program. The Stock program is only going to

1046
00:46:22,480 --> 00:46:25,279
Speaker 4: save you a couple of dollars for those who don't

1047
00:46:25,280 --> 00:46:28,920
Speaker 4: know what start. The Star program saves you on school taxes, right.

1048
00:46:29,680 --> 00:46:33,880
Speaker 4: It used to come off the gross on your taxes.

1049
00:46:33,920 --> 00:46:35,840
Speaker 4: Now they send you a check at the end of

1050
00:46:35,920 --> 00:46:38,000
Speaker 4: the year. So it doesn't really help you. During the

1051
00:46:38,080 --> 00:46:42,279
Speaker 4: course of the year, you get reimbursed or refunded. That's

1052
00:46:42,400 --> 00:46:45,600
Speaker 4: that's savings. But that's the savings is only like two grands.

1053
00:46:45,640 --> 00:46:48,160
Speaker 4: So I mean two grand versus fifteen grand. It's like

1054
00:46:48,280 --> 00:46:50,960
Speaker 4: pennies on a dollar. When it's a penny save is

1055
00:46:50,960 --> 00:46:53,400
Speaker 4: a penny earned tool at the same time, but it

1056
00:46:53,480 --> 00:46:55,680
Speaker 4: doesn't really help you in the grand scheme of things.

1057
00:46:55,760 --> 00:46:57,960
Speaker 4: So what I try to tell people is just be

1058
00:46:58,080 --> 00:47:01,120
Speaker 4: smart because you got to pay that mortgage every month,

1059
00:47:01,160 --> 00:47:03,560
Speaker 4: and the mortgage man don't care. They want their money,

1060
00:47:03,719 --> 00:47:05,799
Speaker 4: and if they don't get your money, they're gonna wind

1061
00:47:05,880 --> 00:47:07,359
Speaker 4: up foreclosing on you at some point.

1062
00:47:07,480 --> 00:47:09,160
Speaker 6: So just be smart, move a strategy.

1063
00:47:09,680 --> 00:47:12,799
Speaker 4: Start with rental properties first, because the rental properties can

1064
00:47:12,840 --> 00:47:15,560
Speaker 4: pay for your asset. Like dj Envy ncs of both

1065
00:47:15,600 --> 00:47:17,600
Speaker 4: say at their seminos, right, which I love that they

1066
00:47:17,640 --> 00:47:17,920
Speaker 4: say it.

1067
00:47:18,440 --> 00:47:20,520
Speaker 6: You know Mv's flashy like he love his cars.

1068
00:47:20,600 --> 00:47:20,719
Speaker 5: Right.

1069
00:47:20,800 --> 00:47:22,800
Speaker 4: We all know that if you follow him, he's always

1070
00:47:22,840 --> 00:47:25,680
Speaker 4: buying some Rose Royce or something. But he said flat out,

1071
00:47:25,880 --> 00:47:27,920
Speaker 4: I don't buy this unless I have an asset that

1072
00:47:27,960 --> 00:47:28,520
Speaker 4: can pay for it.

1073
00:47:29,600 --> 00:47:33,120
Speaker 6: So I'm not paying for it. I'm paying for the asset.

1074
00:47:34,280 --> 00:47:39,440
Speaker 4: Assets of reliabilities right, shameless assets over liabilities people, right,

1075
00:47:39,800 --> 00:47:42,600
Speaker 4: But he's buying the asset to pay for the Rose Royce.

1076
00:47:42,920 --> 00:47:45,799
Speaker 4: You know, we have that same opportunity. You know these

1077
00:47:45,840 --> 00:47:48,279
Speaker 4: guys are part of the one percent club. Great, we

1078
00:47:48,560 --> 00:47:51,000
Speaker 4: all have that ability to do the same thing even

1079
00:47:51,040 --> 00:47:52,480
Speaker 4: if we're not part of the one percent.

1080
00:47:52,800 --> 00:47:56,319
Speaker 6: We can develop the one percent mentality. That's all we need.

1081
00:47:56,480 --> 00:47:58,200
Speaker 6: So that's when you ask me, what do we first start?

1082
00:47:58,440 --> 00:48:01,520
Speaker 6: Right here? The mentalit is the first place that we

1083
00:48:01,680 --> 00:48:05,080
Speaker 6: need to start develop that one percent mentality, develop a

1084
00:48:05,160 --> 00:48:07,959
Speaker 6: strong team, develop your one percent dream team.

1085
00:48:08,280 --> 00:48:09,360
Speaker 2: You know you need guys like me.

1086
00:48:09,480 --> 00:48:12,080
Speaker 4: You need guys like Shall, You need financial planning, you

1087
00:48:12,200 --> 00:48:15,160
Speaker 4: need to understand tax planning. You need all of these

1088
00:48:15,480 --> 00:48:18,759
Speaker 4: these these key team players to guide you to know

1089
00:48:18,920 --> 00:48:21,880
Speaker 4: your overall strategy. Because if you just go to in

1090
00:48:22,000 --> 00:48:23,920
Speaker 4: my business, what I like to call them order takers.

1091
00:48:24,520 --> 00:48:26,239
Speaker 4: You know, it's like going to McDonald's. You want fries

1092
00:48:26,320 --> 00:48:28,480
Speaker 4: with that right, if you go to a regular loan office,

1093
00:48:28,480 --> 00:48:29,880
Speaker 4: so they're not asking you questions.

1094
00:48:29,920 --> 00:48:30,799
Speaker 6: They're just thinking to.

1095
00:48:30,840 --> 00:48:33,440
Speaker 4: Get you preapproved today, to buy that house today, but

1096
00:48:33,520 --> 00:48:36,319
Speaker 4: they're not trying to gather the long term, your long

1097
00:48:36,440 --> 00:48:39,240
Speaker 4: term goals. So when someone comes to me, I'm asking

1098
00:48:39,280 --> 00:48:41,560
Speaker 4: these questions because I want to know what who are

1099
00:48:41,640 --> 00:48:42,239
Speaker 4: you number one?

1100
00:48:42,280 --> 00:48:43,600
Speaker 6: And what do you want to deal with your life?

1101
00:48:43,640 --> 00:48:45,560
Speaker 4: Because if you tell me, hey, I want to buy

1102
00:48:45,640 --> 00:48:47,680
Speaker 4: this house, but then at the same time you say

1103
00:48:47,719 --> 00:48:49,600
Speaker 4: I want in basketball, you're contradicting yourself.

1104
00:48:50,040 --> 00:48:51,800
Speaker 6: You got to kind of pick your poison and figure

1105
00:48:51,840 --> 00:48:54,560
Speaker 6: out what's the best route. And I can only tell

1106
00:48:54,600 --> 00:48:57,759
Speaker 6: you my opinion, my advice. This is what you qualify for.

1107
00:48:58,120 --> 00:48:59,719
Speaker 6: I'm gonna lead you to the water. But it's up

1108
00:48:59,719 --> 00:49:00,520
Speaker 6: to you to drink.

1109
00:49:00,520 --> 00:49:03,399
Speaker 2: At the end of the day, we want to thank

1110
00:49:03,440 --> 00:49:05,800
Speaker 2: you for coming in. Man, that was I hope you

1111
00:49:05,880 --> 00:49:09,279
Speaker 2: guys really once again took notes. Yeah, I hope you

1112
00:49:09,320 --> 00:49:11,760
Speaker 2: guys really took notes. Because this is just like business.

1113
00:49:11,800 --> 00:49:14,040
Speaker 2: You know, real estate is something this is actually probably

1114
00:49:14,120 --> 00:49:16,840
Speaker 2: even more relevant than business because everybody doesn't inspire to

1115
00:49:16,880 --> 00:49:20,960
Speaker 2: be a business owner. But most people have a dream

1116
00:49:21,000 --> 00:49:23,560
Speaker 2: of owning a home right or you know, at least

1117
00:49:24,080 --> 00:49:26,160
Speaker 2: rent yea, I live somewhere regardless, So even if you're

1118
00:49:26,160 --> 00:49:28,240
Speaker 2: a renterer, you should still be educated on it because

1119
00:49:28,760 --> 00:49:31,840
Speaker 2: you know, real estate is something that everybody partakes in

1120
00:49:31,920 --> 00:49:32,360
Speaker 2: one way.

1121
00:49:32,600 --> 00:49:33,640
Speaker 6: Even I'm going to cut your wall.

1122
00:49:33,680 --> 00:49:35,320
Speaker 4: But even if you're a rental you still should be

1123
00:49:35,360 --> 00:49:40,080
Speaker 4: buying right Like why and especially with the millennials, like

1124
00:49:40,160 --> 00:49:41,200
Speaker 4: I hear a lot of this online.

1125
00:49:41,280 --> 00:49:42,680
Speaker 6: Millennials don't want to buy homes.

1126
00:49:42,719 --> 00:49:44,520
Speaker 4: They just want to rent because they don't feel like

1127
00:49:44,520 --> 00:49:47,200
Speaker 4: they want to get tagged and tied down to a property.

1128
00:49:47,320 --> 00:49:50,760
Speaker 4: But why not still invest, you know, still buy property,

1129
00:49:50,840 --> 00:49:52,839
Speaker 4: still buy real estate, and you can because it's nothing

1130
00:49:52,880 --> 00:49:55,280
Speaker 4: wrong with renting. You know, there's a lot of people

1131
00:49:55,320 --> 00:49:58,040
Speaker 4: on my industry that try to say, compare rent versus owner,

1132
00:49:58,080 --> 00:50:00,360
Speaker 4: which I get the logic, but there's nothing wrong with

1133
00:50:00,480 --> 00:50:03,560
Speaker 4: being a renter, right, it's a purpose. You know, some

1134
00:50:03,680 --> 00:50:06,880
Speaker 4: people you have to be mature to handle home ownership.

1135
00:50:07,560 --> 00:50:10,120
Speaker 4: You know, it's a lot, it's a lot of responsibility.

1136
00:50:10,200 --> 00:50:12,959
Speaker 4: It's not it's not just like I bought a house

1137
00:50:13,040 --> 00:50:15,480
Speaker 4: and now I'm a homeowner and great like, but the

1138
00:50:15,560 --> 00:50:17,040
Speaker 4: goddamn ball or break then what?

1139
00:50:17,600 --> 00:50:17,759
Speaker 1: Right?

1140
00:50:17,960 --> 00:50:19,919
Speaker 4: You know, it's a lot of responses that it takes

1141
00:50:19,960 --> 00:50:23,120
Speaker 4: a search level of maturity to handle home ownership. So

1142
00:50:23,200 --> 00:50:26,560
Speaker 4: if you're not mature enough and you need to rent,

1143
00:50:27,120 --> 00:50:29,800
Speaker 4: why not start investing into real estate and start small,

1144
00:50:29,920 --> 00:50:32,080
Speaker 4: staying your lane. You don't have to keep up with,

1145
00:50:32,680 --> 00:50:35,960
Speaker 4: you know, the superstar investors that are out there buying

1146
00:50:36,560 --> 00:50:37,560
Speaker 4: ten properties a week.

1147
00:50:37,920 --> 00:50:39,839
Speaker 6: You know, stay your lane, whether you buy one home

1148
00:50:39,920 --> 00:50:42,640
Speaker 6: a year or one a month, whatever your lane is.

1149
00:50:42,760 --> 00:50:45,879
Speaker 2: Staying this the fact. But yeah, so once again, thank

1150
00:50:45,920 --> 00:50:48,520
Speaker 2: you for coming. And also it's important too, as you said,

1151
00:50:48,520 --> 00:50:49,839
Speaker 2: I like what you said as far as putting together

1152
00:50:49,920 --> 00:50:52,080
Speaker 2: a team and just having resources a lot of time,

1153
00:50:52,120 --> 00:50:54,680
Speaker 2: we feel like we want to do everything ourselves. And

1154
00:50:54,800 --> 00:50:57,600
Speaker 2: like me, I'm a big proponent, Like I stay in

1155
00:50:57,640 --> 00:50:59,759
Speaker 2: my lane, right, So I'm I'm a financial visor. I

1156
00:50:59,800 --> 00:51:01,640
Speaker 2: talk about finance, but I don't talk about everything to

1157
00:51:01,760 --> 00:51:03,960
Speaker 2: do with finance. So that's why we brought you in

1158
00:51:04,080 --> 00:51:06,200
Speaker 2: to talk about real estate. That's how we bring you know,

1159
00:51:06,400 --> 00:51:08,359
Speaker 2: taxifisers in to talk about tax That's why we bring

1160
00:51:08,360 --> 00:51:11,960
Speaker 2: a lawyer into talk about legal issues because I'm not

1161
00:51:12,360 --> 00:51:14,120
Speaker 2: I don't do that lik it like you know, so

1162
00:51:14,239 --> 00:51:16,200
Speaker 2: I'd rather have somebody that does it every single day

1163
00:51:16,480 --> 00:51:18,560
Speaker 2: to talk about it as opposed to me just trying

1164
00:51:18,600 --> 00:51:20,720
Speaker 2: to cover everything or Troy just trying to cover everything.

1165
00:51:20,840 --> 00:51:27,279
Speaker 2: So networking. Networking is important in having knowledgeable people. So

1166
00:51:27,600 --> 00:51:29,680
Speaker 2: can you tell the people how to how to contact you?

1167
00:51:29,920 --> 00:51:34,960
Speaker 4: Listen on YouTube MG the Mortgage Guy on Instagram Matt

1168
00:51:35,040 --> 00:51:39,000
Speaker 4: g Underscore home Loans. Catch me there on Facebook or

1169
00:51:39,040 --> 00:51:41,960
Speaker 4: LinkedIn just my name Matthew Garland, Matthew with two teas.

1170
00:51:42,800 --> 00:51:44,960
Speaker 4: But if you have any questions are concerned, you can

1171
00:51:45,040 --> 00:51:47,239
Speaker 4: shoot me a DM on Instagram.

1172
00:51:47,760 --> 00:51:50,759
Speaker 6: I respond. I try to respond to all the d ms.

1173
00:51:51,680 --> 00:51:54,120
Speaker 4: All you can catch me on one of these dates

1174
00:51:54,160 --> 00:51:57,080
Speaker 4: with dj NB and Caason on the real estate seminars.

1175
00:51:58,239 --> 00:52:01,760
Speaker 6: But I'm around man, just some high mean and let's work.

1176
00:52:02,480 --> 00:52:03,920
Speaker 2: I appreciate Troy anything.

1177
00:52:04,719 --> 00:52:08,320
Speaker 3: Well, I'm gonna end where we started just a quote

1178
00:52:08,320 --> 00:52:10,440
Speaker 3: from Nip the Great. He said, you can have it

1179
00:52:10,480 --> 00:52:13,560
Speaker 3: also about your reason. And through his music and through

1180
00:52:13,600 --> 00:52:15,880
Speaker 3: his life and through his work in his community, he

1181
00:52:16,040 --> 00:52:18,400
Speaker 3: was living out his reason. It's really his purpose. And

1182
00:52:18,440 --> 00:52:20,360
Speaker 3: a lot of people try to figure out how do

1183
00:52:20,480 --> 00:52:24,200
Speaker 3: I find my purpose? And the best way is to

1184
00:52:24,320 --> 00:52:27,520
Speaker 3: live through experiences and you know, find something that you're

1185
00:52:27,640 --> 00:52:29,960
Speaker 3: you're you're really passionate about, or that you do well,

1186
00:52:30,320 --> 00:52:32,120
Speaker 3: that you never had to go to school for. You

1187
00:52:32,239 --> 00:52:35,400
Speaker 3: just naturally do it and find a message in there, man,

1188
00:52:35,520 --> 00:52:38,719
Speaker 3: So you have it all. It's just about the reason, man,

1189
00:52:38,840 --> 00:52:40,560
Speaker 3: So make sure that y'all know what the reason you're

1190
00:52:40,600 --> 00:52:43,600
Speaker 3: doing it for. And his one of his biggest things

1191
00:52:43,640 --> 00:52:46,640
Speaker 3: that he was doing was just spreading love for everybody

1192
00:52:46,640 --> 00:52:49,960
Speaker 3: else's benefit. And like I said, it's unfortunately that he

1193
00:52:50,080 --> 00:52:53,680
Speaker 3: lost his life, but he was living his purpose. And

1194
00:52:53,920 --> 00:52:55,919
Speaker 3: the more people we can get to find and chase

1195
00:52:56,000 --> 00:52:57,960
Speaker 3: their purpose and live in their purpose, you know, the

1196
00:52:58,040 --> 00:52:59,840
Speaker 3: better our communities would be, the better world would be.

1197
00:53:00,200 --> 00:53:02,760
Speaker 5: So we lost not only a pillar to our community,

1198
00:53:02,800 --> 00:53:03,839
Speaker 5: but a pillar to the world.

1199
00:53:04,880 --> 00:53:08,759
Speaker 2: Yeah, rest in peace before we leave. Also, my book

1200
00:53:08,840 --> 00:53:12,279
Speaker 2: tip for this week is a book called The wake

1201
00:53:12,400 --> 00:53:15,759
Speaker 2: Up Call by my guy Ash Cash, and that is

1202
00:53:16,360 --> 00:53:19,600
Speaker 2: he he does an interesting thing where he he yeah,

1203
00:53:19,760 --> 00:53:22,560
Speaker 2: he breaks down like financial topics. It's kind of similar

1204
00:53:22,560 --> 00:53:25,239
Speaker 2: to what we do and pop culture. So that book

1205
00:53:25,320 --> 00:53:28,279
Speaker 2: is based around jay Z's album four four four and

1206
00:53:28,600 --> 00:53:30,839
Speaker 2: he like kind of goes into details like what jay

1207
00:53:30,880 --> 00:53:33,680
Speaker 2: Z's rapping about and then explains like, Okay, this is

1208
00:53:34,160 --> 00:53:38,680
Speaker 2: the real estate played behind the lyric and stuff like that. Today,

1209
00:53:40,560 --> 00:53:42,719
Speaker 2: shout to Ashcash. We gottaet him on the show as well,

1210
00:53:42,800 --> 00:53:45,560
Speaker 2: So shout out to ash Cash. And uh yes, guys,

1211
00:53:45,640 --> 00:53:49,200
Speaker 2: don't forget the merch Troy. It has the signature Assets

1212
00:53:49,280 --> 00:53:54,560
Speaker 2: over Liability shirt done, we got the we got the cream.

1213
00:53:54,640 --> 00:53:56,839
Speaker 2: We got the cream shirt. You got the cream joint

1214
00:53:56,880 --> 00:54:01,240
Speaker 2: with Okay, credit creditbles everything. That's that's the age vingnaw

1215
00:54:01,400 --> 00:54:04,359
Speaker 2: before it was cash for everything around me, everything around

1216
00:54:04,400 --> 00:54:07,759
Speaker 2: me like that. We got that. We got the crop,

1217
00:54:07,960 --> 00:54:12,600
Speaker 2: the crop top, hoodies for the ladies, hats and yeah,

1218
00:54:12,640 --> 00:54:15,520
Speaker 2: also our Patreon as well, Like I said, Patreon, that's

1219
00:54:15,560 --> 00:54:19,080
Speaker 2: a way to support us financially, support the podcast financially

1220
00:54:20,000 --> 00:54:22,560
Speaker 2: so we can keep bringing people on. We can expand

1221
00:54:22,640 --> 00:54:25,000
Speaker 2: the podcast, we can travel, and we can give you

1222
00:54:25,080 --> 00:54:29,200
Speaker 2: guys education on a weekly basis. So yes, thank you

1223
00:54:29,360 --> 00:54:32,000
Speaker 2: for your support and we will see you guys next week.

1224
00:54:32,080 --> 00:55:00,799
Speaker 2: Peace allright, coach?

1225
00:55:00,960 --> 00:55:03,360
Speaker 7: The energy out there felt different. What changed for the

1226
00:55:03,440 --> 00:55:03,920
Speaker 7: team today?

1227
00:55:04,040 --> 00:55:06,160
Speaker 8: It was the new game day scratches from the California

1228
00:55:06,239 --> 00:55:09,399
Speaker 8: Lottery Player is everything. Those games sent the team's energy

1229
00:55:09,440 --> 00:55:09,919
Speaker 8: through the roof.

1230
00:55:10,040 --> 00:55:12,000
Speaker 7: Are you saying it was the off field play that

1231
00:55:12,080 --> 00:55:13,160
Speaker 7: made the difference on the field.

1232
00:55:13,280 --> 00:55:16,000
Speaker 8: Hey, little play makes your day, and today it made

1233
00:55:16,040 --> 00:55:18,879
Speaker 8: the game. That's awfu now, Coach, one more question?

1234
00:55:19,120 --> 00:55:21,960
Speaker 7: Played the new Los Angeles Chargers, San Francisco forty nine

1235
00:55:22,040 --> 00:55:25,040
Speaker 7: Ers and Los Angeles Ram scratchers from the California Lottery.

1236
00:55:25,200 --> 00:55:26,759
Speaker 7: A little play can make your day.

1237
00:55:27,440 --> 00:55:27,640
Speaker 5: Peace.

1238
00:55:27,680 --> 00:55:29,640
Speaker 7: Pay responsibly. Must be eighteen years or older to purchase

1239
00:55:29,680 --> 00:55:30,200
Speaker 7: plate or claim