WEBVTT - EYL #12 The Marathon Continues.

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<v Speaker 2>All right, guys, welcome back. We have another monumental episode today,

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<v Speaker 2>put a lot of pressure Episode twelve. First of all,

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<v Speaker 2>thank you guys for your support. Our growth has been tremendous.

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<v Speaker 2>You know we're in the top ten percent of all

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<v Speaker 2>podcasts audio in the world after twelve weeks. So you know,

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

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<v Speaker 2>out as educational, so it's good to see people gravitating

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<v Speaker 2>towards that. So thank you guys for your support and

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<v Speaker 2>keep spreading the words all being organic and grassroots. So

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<v Speaker 2>you know, tell a friend to tell a friend, and yes, yes,

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<v Speaker 2>keep helping us grow because the more we grow, the

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

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<v Speaker 2>So before we start, you know, we have to touch

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<v Speaker 2>on some very sad, in tragic news that happened in

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<v Speaker 2>our culture in the world with the with the passing

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

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<v Speaker 2>before and I posted it on the page where Nipsey

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<v Speaker 2>we was like really our guy, like we really was

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<v Speaker 2>like we.

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<v Speaker 3>Made a list of people we wanted to meet and

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<v Speaker 3>we're doing the same work and we're on the same path,

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<v Speaker 3>and he was at the top of our list. And

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<v Speaker 3>to see the news what happened Sunday, it was just

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<v Speaker 3>it hit hard.

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<v Speaker 2>Ye, senseless, senseless act of violence that just affected so

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<v Speaker 2>many different people. And as you said, I mean, Nipsey

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<v Speaker 2>Hustle was somebody that we were pretty confident that we

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<v Speaker 2>were going to get a conversation with him. We just

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<v Speaker 2>I just felt it because that was his economic empowerment.

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

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<v Speaker 2>So yeah, man, it's just it's just a very tragic

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<v Speaker 2>and sad situation. Like you said, senseless, just a senseless

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<v Speaker 2>act of violence in.

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<v Speaker 4>Peace came sad, sad loss for the world, for the culture.

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<v Speaker 4>He was definitely out there doing what he had to

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<v Speaker 4>do to empower us all and now we just got

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<v Speaker 4>to take that baton and continue to run with it.

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<v Speaker 5>I think that was one of the most uplifting things

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<v Speaker 5>I saw.

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<v Speaker 3>It was like somebody had DM's us and it was

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<v Speaker 3>like Nipsey would be proud of your work. And I

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<v Speaker 3>was like, wow, because I don't. I mean, I didn't

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<v Speaker 3>even speak to you. The first beginning of the week.

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<v Speaker 3>I just couldn't talk. I was just completely out of it.

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<v Speaker 3>But when I read that, like he would be proud

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<v Speaker 3>of us, continue to work and the marathon continues, I

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<v Speaker 3>was like, let's do it.

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<v Speaker 5>We're gonna carry this.

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<v Speaker 2>The marathon continues for sure. So this this show is

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<v Speaker 2>actually dedicated to Nipsey, and one of the things that

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<v Speaker 2>he was very passionate about. He was passionate about a

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<v Speaker 2>lot of things, but economic development in his community, buying

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<v Speaker 2>black his community, and investing in real estate like he was.

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<v Speaker 2>He was big on real estate. He was on Forbes.

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<v Speaker 2>Forbes covered him as far as his revill estate deals.

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<v Speaker 2>And he had just brought the strip mall in his

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<v Speaker 2>neighborhood actually unfortunately where he was murdered at. He brought

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<v Speaker 2>that strip mall and he was buying a bunch of stuff.

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<v Speaker 2>He had a we work center, he had a stem

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<v Speaker 2>center for kids, a bunch of different things. He was

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<v Speaker 2>you know, he had him and his business partner, David Gross.

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<v Speaker 2>They were buying apartment complexes, all kinds of stuff. So, yes,

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<v Speaker 2>this this is the real estate addition, because real estate

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<v Speaker 2>is very exciting and it's very hot, and it's very

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<v Speaker 2>you know, it's in the news a lot right now,

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<v Speaker 2>and it's good. But it's something that a lot of

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<v Speaker 2>some people hear about and they just think they're just

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<v Speaker 2>gonna get rich quick, make a million dollars without doing

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<v Speaker 2>any work. And it doesn't want money up. It doesn't

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<v Speaker 2>always work like that. So this is what we do

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<v Speaker 2>in the show. If we educate so what better way

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<v Speaker 2>to educate than to bring an expert in the field on.

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<v Speaker 2>So we have a very special guest today, Matt Garland,

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<v Speaker 2>who is All All Star mortgage advisor Match just came

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<v Speaker 2>off a toy. He's in the middle of tour. Actually

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<v Speaker 2>he's in the middle of tour. He's on dj Envy's

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

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<v Speaker 2>h is heavy in the real estate game and he's

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<v Speaker 2>traveling around the country putting on seminars to educate people

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<v Speaker 2>on real estate investing. And he has a team of

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<v Speaker 2>professionals that you know he has on his team on

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<v Speaker 2>his real estate team if you ever go to one

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<v Speaker 2>of his seminars and one of the professionals is Matt.

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

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<v Speaker 2>he's a mortgage advisor, just very knowledgeable about the real

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<v Speaker 2>estate industry. So thank you, welcome listen.

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<v Speaker 4>I appreciate the love, I appreciate the hospitality. Like you

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

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<v Speaker 4>We just came back from Miami.

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<v Speaker 2>What cities have you been to so far?

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<v Speaker 5>So far?

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<v Speaker 4>New Jersey, New York, Well, Atlantic City, Queens. We just

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<v Speaker 4>came back from Miami. Now we head into Detroit on

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<v Speaker 4>for twenty then we got Atlanta for twenty seven. Then

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<v Speaker 4>we're back in New Jersey five nineteen.

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<v Speaker 6>Then June.

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

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<v Speaker 4>we got something going on in June, July, August, you know.

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<v Speaker 4>So we're just traveling around and I'm probably gonna put

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<v Speaker 4>together my own workshop again, part two of the Generational

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<v Speaker 4>Wealth Workshop, so and Juling.

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<v Speaker 6>I'm working on those details now.

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<v Speaker 4>So it's just it's been busy, man, and on top

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<v Speaker 4>of it.

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<v Speaker 6>Yeah, no, this is this is nothing.

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<v Speaker 5>Man.

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<v Speaker 4>I love what you guys are doing. I'm excited to

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

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<v Speaker 4>be a part of this because you guys could have

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<v Speaker 4>picked anybody, but you guys picked me to come in

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<v Speaker 4>and talk about a subject that I love.

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

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<v Speaker 2>Man.

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<v Speaker 4>We're going to dedicate this episode to him, and hopefully

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<v Speaker 4>we may him proud with the information we want to

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<v Speaker 4>get out to the people.

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<v Speaker 2>All Right, So now we're going to go into an

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

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<v Speaker 6>Jackson, Queens get the money?

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<v Speaker 2>Are you from queens?

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<v Speaker 6>From Queens? Brooklyn and Queens? But I claim queens.

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<v Speaker 2>Okay, okay, fifty yeah, fifty, We like fifty cent. He's

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<v Speaker 2>actually I think he's more entertaining as an entertainer at

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

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

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<v Speaker 2>before that, the mixtape raxtape change changed the game.

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<v Speaker 6>He changed the game with the next.

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<v Speaker 2>Day, so all right, So he he brought a house.

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<v Speaker 2>He put Mike Tyson's house in two thousand Can we.

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<v Speaker 5>Even clo the house?

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<v Speaker 6>We got to state state that's like, I don't even

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<v Speaker 6>know if you can call that state.

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<v Speaker 2>That's state compound. That's a compound. I think it's the

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<v Speaker 2>biggest a state compound house on the East coast. Has

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<v Speaker 2>fifty bedrooms and nineteen bathrooms. Crazy, and it's fifty thousand

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<v Speaker 2>square feet fitting The address was I think fifty something.

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<v Speaker 2>So it's ironic.

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<v Speaker 6>It works.

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<v Speaker 2>So he brought it in two thousand and three for

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<v Speaker 2>Mike Tyson's ex wife for four point one million dollars

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<v Speaker 2>and he he turned it into.

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<v Speaker 5>It was like a Playboy Mansion times ten.

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<v Speaker 2>Yeah, he put it. He put a stripper pole poles, studio,

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<v Speaker 2>a grothel. You gotta love it.

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<v Speaker 5>Yeah, he had a casual atrium in there.

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<v Speaker 3>This it wastaou basketball courts, a studio like you said,

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<v Speaker 3>a club.

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<v Speaker 5>It was. It was called club.

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<v Speaker 6>Damn. That was right at the tip of my head.

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<v Speaker 2>Fifty I think, no, no, no, no, something else.

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<v Speaker 4>It was like the sound system cost one hundred thousands

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<v Speaker 4>when he went he went in.

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<v Speaker 2>He puts six million dollars into it in addition from

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<v Speaker 2>the four million that he actually paid for. So he's

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<v Speaker 2>ten million.

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<v Speaker 5>Total ten million.

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

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

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<v Speaker 2>It's in the middle of nowhere, in like a middle

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<v Speaker 2>class neighborhood, right yeah, And it's like five times bigger

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<v Speaker 2>than any other house in the neighborhood.

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<v Speaker 5>It's bigger than most hotels.

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<v Speaker 4>It's speaking in five times bigger than probably any house

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<v Speaker 4>on the East Coast.

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<v Speaker 2>So now he decides he wants to sell it. I

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<v Speaker 2>think it's on the market for like ten years.

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<v Speaker 3>Two thousand and seven, he decides to sell it. He

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<v Speaker 3>puts it he listed for eighteen point five million.

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

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<v Speaker 2>five million. So he just recently sold it for two million.

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<v Speaker 5>Yeah, two point nine two.

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<v Speaker 2>Point nine million, man, so that's like a seventy nine

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<v Speaker 2>percent loss.

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<v Speaker 5>The headline was like.

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<v Speaker 2>Asking and like a seventy nine percent from total where

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

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<v Speaker 2>I mean the grand scheme of things, if you really

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<v Speaker 2>think about it, especially in our area, two point nine

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<v Speaker 2>million is not a lot of money for fifty bedrooms

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<v Speaker 2>in nineteen you really think, you really think about that,

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<v Speaker 2>that's obtainable, like that.

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<v Speaker 4>It's not too far fast, No, it's you got six

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<v Speaker 4>bedroom homes going for that price.

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<v Speaker 2>It's like, it's crazy that it costs that much, and

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<v Speaker 2>then it's also crazy that it's appreciated that much. So like,

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<v Speaker 2>what's the takeaway here?

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<v Speaker 4>Like, oh man, there's so many takeaways with the story,

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<v Speaker 4>good and bad.

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<v Speaker 5>You know.

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<v Speaker 4>The first thing that stands out my head being in

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<v Speaker 4>the business is over improving the house for neighborhood, right,

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<v Speaker 4>you know, I do a lot of renovation loans. So

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<v Speaker 4>what I try to tell people is don't create the

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<v Speaker 4>white elephant in your neighborhood because you'll never get that

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<v Speaker 4>money back.

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<v Speaker 6>You'll actually lose.

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<v Speaker 4>And I think this is a prime example of having

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<v Speaker 4>that white elephant and you.

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<v Speaker 3>Want to get a story in a white elephant, like yeah, yeah, yeah,

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<v Speaker 3>So like the white elephant. Really it was a gift

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<v Speaker 3>that was given to a king or somebody of that

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<v Speaker 3>statue or emperor, and it was a beautiful gift because

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<v Speaker 3>it was rare. You could never find these things, right,

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<v Speaker 3>But after he got it, he realized all the burdens

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<v Speaker 3>that came along with it. What do you beat this thing?

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<v Speaker 3>How do we make sure that the stay's healthy? And

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<v Speaker 3>it just becomes something that is there that has no use.

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<v Speaker 3>So they like when they say white elephant in real estate,

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

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<v Speaker 3>when they built it the Sumper Olympics. They were building

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<v Speaker 3>all these stadiums and it was like, what are we

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<v Speaker 3>going to do after the Olympics leaves. We have a

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<v Speaker 3>bunch of white elephants, all these stadiums, all this infrastructure,

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<v Speaker 3>nothing to us, it.

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<v Speaker 5>Nothing to use, greased another day.

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<v Speaker 6>And that's kind of what happened in this situation.

0:11:04.040 --> 0:11:04.280
<v Speaker 2>Right.

0:11:04.840 --> 0:11:06.959
<v Speaker 4>So that's the biggest takeaway that I got off off

0:11:07.000 --> 0:11:09.480
<v Speaker 4>of it. Being in the businesses, just don't over improve

0:11:09.520 --> 0:11:11.720
<v Speaker 4>the house because you never know what the market is

0:11:11.720 --> 0:11:13.480
<v Speaker 4>going to do. You know, when he made that six

0:11:13.520 --> 0:11:17.200
<v Speaker 4>million dollar investment of renovating the home, it probably was

0:11:17.200 --> 0:11:19.960
<v Speaker 4>a great idea at the time. Right when you purchased

0:11:20.000 --> 0:11:22.440
<v Speaker 4>that type of home and you put in that type

0:11:22.480 --> 0:11:24.920
<v Speaker 4>of money, no one at that time was really if

0:11:24.960 --> 0:11:27.400
<v Speaker 4>you was not in the market, you know, on Wall

0:11:27.400 --> 0:11:29.719
<v Speaker 4>Street and really paying attention on the back end, which

0:11:29.720 --> 0:11:31.600
<v Speaker 4>I'm not even to get into this too complicated, but

0:11:31.640 --> 0:11:33.560
<v Speaker 4>if he wasn't paying attention, you really didn't know.

0:11:33.880 --> 0:11:35.680
<v Speaker 6>So at that time it probably was a great idea.

0:11:35.760 --> 0:11:39.800
<v Speaker 4>But Tom told that it wasn't a great idea.

0:11:39.920 --> 0:11:42.440
<v Speaker 6>So that's one of the major things that I got

0:11:42.480 --> 0:11:42.880
<v Speaker 6>out of it.

0:11:42.960 --> 0:11:45.720
<v Speaker 4>That he took such a big loss that we see

0:11:45.760 --> 0:11:48.440
<v Speaker 4>but on paper when it comes to tax strategies and

0:11:48.480 --> 0:11:51.000
<v Speaker 4>everything like that, Listen, fifty is smart. You know he

0:11:51.120 --> 0:11:55.600
<v Speaker 4>donated the proceeds to charity. Tax strategy, right, I'm all

0:11:55.679 --> 0:11:58.080
<v Speaker 4>on with helping and doing he has to do. So

0:11:58.280 --> 0:12:02.240
<v Speaker 4>I'm sure over the last twelve years he's been able

0:12:02.280 --> 0:12:04.920
<v Speaker 4>to write off a lot of these losses and will

0:12:04.920 --> 0:12:05.400
<v Speaker 4>continue the.

0:12:05.480 --> 0:12:07.439
<v Speaker 5>Probably he wasn't even living at the residents.

0:12:07.480 --> 0:12:09.200
<v Speaker 3>Yeah, and one of the things he was trying to

0:12:09.240 --> 0:12:11.559
<v Speaker 3>do was make it a part of his gun foundation

0:12:11.600 --> 0:12:14.760
<v Speaker 3>where kids could go as a summer camper treat. And

0:12:14.800 --> 0:12:16.760
<v Speaker 3>I think like off camper we were talking about, like, oh,

0:12:16.800 --> 0:12:18.880
<v Speaker 3>so he probably didn't even buy this as Curtis Jackson.

0:12:18.880 --> 0:12:22.000
<v Speaker 4>Oh, definitely, probably not right. It's probably was in one

0:12:22.000 --> 0:12:25.000
<v Speaker 4>of his many businesses names. So you know, that's when

0:12:25.040 --> 0:12:27.520
<v Speaker 4>you see these headlines, right, it's eye popping, you know,

0:12:27.640 --> 0:12:30.480
<v Speaker 4>eighty four percent loss. But do we really know how

0:12:30.559 --> 0:12:33.080
<v Speaker 4>much he really lost or did he really lose in

0:12:33.160 --> 0:12:34.320
<v Speaker 4>this entire deal.

0:12:34.200 --> 0:12:36.880
<v Speaker 6>Where you break down from a tax perspective too.

0:12:36.960 --> 0:12:40.600
<v Speaker 4>But the one thing is for sure he overinvested into

0:12:40.679 --> 0:12:41.760
<v Speaker 4>the property.

0:12:41.520 --> 0:12:43.080
<v Speaker 6>And there's no denying that, right.

0:12:43.160 --> 0:12:44.960
<v Speaker 4>You know, you purchased it for four point one, you

0:12:45.000 --> 0:12:46.559
<v Speaker 4>put in six, you sold it for.

0:12:46.520 --> 0:12:48.760
<v Speaker 6>Two point nine.

0:12:48.960 --> 0:12:51.679
<v Speaker 4>You lost, took an L when it comes to that,

0:12:51.720 --> 0:12:54.439
<v Speaker 4>But on paper, he probably didn't take as big of

0:12:54.520 --> 0:12:57.559
<v Speaker 4>a of an l that the headlines and the papers

0:12:57.559 --> 0:12:58.320
<v Speaker 4>are making it out too.

0:12:58.320 --> 0:13:00.320
<v Speaker 2>And then you got to keep it classy too. It's like, yeah,

0:13:00.400 --> 0:13:03.319
<v Speaker 2>it's like putting rims on Rose Royce, like, yeah, something

0:13:03.880 --> 0:13:07.960
<v Speaker 2>you put a ship. You can't put a ship in Connecticut.

0:13:08.000 --> 0:13:08.800
<v Speaker 2>I don't think there's too.

0:13:08.679 --> 0:13:11.680
<v Speaker 4>Many people saying listen, man, listen, I'm not even going

0:13:11.760 --> 0:13:15.760
<v Speaker 4>to you know, when you when you're in his lifestyle

0:13:15.920 --> 0:13:16.920
<v Speaker 4>and in his business.

0:13:17.160 --> 0:13:18.959
<v Speaker 2>No, no, it's good for him. But if you ever

0:13:18.960 --> 0:13:20.480
<v Speaker 2>done about reselling but for resell.

0:13:21.320 --> 0:13:24.640
<v Speaker 4>But but that's that's you know again, when you renovating

0:13:24.720 --> 0:13:27.079
<v Speaker 4>your home, you got to be careful what you're putting

0:13:27.160 --> 0:13:29.480
<v Speaker 4>in there because your taste may not be.

0:13:29.960 --> 0:13:31.920
<v Speaker 2>The next You gotta think the person that's going to

0:13:31.960 --> 0:13:33.280
<v Speaker 2>buy it next. Yeah, exactly.

0:13:33.360 --> 0:13:35.439
<v Speaker 4>If you always got to be thinking about that resell,

0:13:35.559 --> 0:13:38.000
<v Speaker 4>that reselling. Maybe that's something that he never thought that

0:13:38.040 --> 0:13:39.920
<v Speaker 4>he would ever sell the property.

0:13:39.920 --> 0:13:42.120
<v Speaker 6>He probably thought he would always keep it right when.

0:13:41.960 --> 0:13:43.640
<v Speaker 5>He was putting those murals up of himself.

0:13:43.480 --> 0:13:46.360
<v Speaker 6>Putting the pros up, doing anything that into the property.

0:13:46.400 --> 0:13:48.640
<v Speaker 4>He probably never thought like, I'm gonna sell this in

0:13:48.800 --> 0:13:50.120
<v Speaker 4>ten years or twelve years.

0:13:50.320 --> 0:13:52.280
<v Speaker 6>Probably thought it was going to be his compound forever.

0:13:52.360 --> 0:13:54.800
<v Speaker 4>But you know, life changes, right, and that's the most

0:13:54.800 --> 0:13:58.320
<v Speaker 4>important thing about real estate is you never know, you know,

0:13:58.480 --> 0:14:00.920
<v Speaker 4>life moves and whatever that action. It needs to move

0:14:00.960 --> 0:14:04.600
<v Speaker 4>and the market doesn't care about the tripper poles.

0:14:06.720 --> 0:14:10.080
<v Speaker 3>The person, the person who bought the compound. He said

0:14:10.080 --> 0:14:12.679
<v Speaker 3>that he's going to invest money to renovated too.

0:14:12.960 --> 0:14:13.200
<v Speaker 6>Yeah.

0:14:13.640 --> 0:14:15.760
<v Speaker 4>I read that this morning that he's going to invest

0:14:15.960 --> 0:14:18.600
<v Speaker 4>millions of dollars into the property. So for me, this

0:14:18.720 --> 0:14:22.560
<v Speaker 4>is this is going this is like anover end the story.

0:14:22.600 --> 0:14:24.280
<v Speaker 4>I think that we're going to be speaking about for

0:14:24.400 --> 0:14:26.800
<v Speaker 4>years to come because who knows what type of foolery

0:14:26.840 --> 0:14:28.760
<v Speaker 4>that he's going to in the house.

0:14:29.200 --> 0:14:31.960
<v Speaker 3>It's that there's something about the house because before Mike

0:14:31.960 --> 0:14:36.360
<v Speaker 3>Tyson had it, the Giant and the general who owned it, Yeah,

0:14:36.440 --> 0:14:37.240
<v Speaker 3>like I think.

0:14:37.080 --> 0:14:39.560
<v Speaker 6>He went to prison with fraud fraud, yeah.

0:14:39.520 --> 0:14:42.160
<v Speaker 5>And then Mike Tyson like we probably should maybe just

0:14:42.200 --> 0:14:43.200
<v Speaker 5>turn that into a motel.

0:14:44.080 --> 0:14:47.360
<v Speaker 6>I mean, listen, at this point, it's probably fitting for

0:14:47.400 --> 0:14:48.360
<v Speaker 6>a hotel.

0:14:48.120 --> 0:14:50.480
<v Speaker 5>Right, yeah, but it's just it's in like the middle.

0:14:50.560 --> 0:14:53.760
<v Speaker 3>It's armorting Connecticut, which is I mean, if you live

0:14:53.800 --> 0:14:55.760
<v Speaker 3>in a try to state, that's not close to here,

0:14:55.800 --> 0:14:58.000
<v Speaker 3>which is probably why he wasn't staying there, Like he's

0:14:58.000 --> 0:15:00.800
<v Speaker 3>in New York, is in LA It's like two hour drive,

0:15:01.680 --> 0:15:04.480
<v Speaker 3>Like if you've ever driven through Connecticut. It's like, yeah, bro,

0:15:04.560 --> 0:15:07.480
<v Speaker 3>you're looking at trees for hours hours.

0:15:07.440 --> 0:15:09.960
<v Speaker 4>But I mean fifty wasn't driving, it was taking hell

0:15:10.760 --> 0:15:13.280
<v Speaker 4>like so you know, it's just a different lifestyle.

0:15:14.000 --> 0:15:16.080
<v Speaker 6>But you know that house is definitely uh.

0:15:17.640 --> 0:15:20.320
<v Speaker 4>Like a white elephant, like like you said, And that

0:15:20.360 --> 0:15:22.560
<v Speaker 4>could be a lesson for anyone who's buying real estate.

0:15:23.000 --> 0:15:25.680
<v Speaker 4>Don't over improve, don't put too much money because you

0:15:25.760 --> 0:15:28.840
<v Speaker 4>never know how the neighborhood is going to change in

0:15:28.640 --> 0:15:30.640
<v Speaker 4>the in the next couple of years. So if anybody

0:15:30.720 --> 0:15:32.560
<v Speaker 4>gonna learn anything from this, that's what we need to

0:15:32.640 --> 0:15:34.680
<v Speaker 4>learn from it. Don't over improve your property.

0:15:34.880 --> 0:15:36.200
<v Speaker 2>Shout out to fifty, shout out.

0:15:37.600 --> 0:15:39.240
<v Speaker 6>I love what he's doing everything.

0:15:39.680 --> 0:15:41.840
<v Speaker 5>Yeah he got some he got some new series.

0:15:41.920 --> 0:15:44.000
<v Speaker 2>Is that that white elephant? I don't know if that

0:15:44.080 --> 0:15:47.200
<v Speaker 2>actually if there's a white elephant, Like, is that just

0:15:47.240 --> 0:15:48.960
<v Speaker 2>like one of those make belief stories though, But I'm

0:15:48.960 --> 0:15:51.280
<v Speaker 2>just thinking about it. What makes a white elephant harder

0:15:51.320 --> 0:15:52.520
<v Speaker 2>to feed than a regular elephant?

0:15:52.800 --> 0:15:57.680
<v Speaker 3>No, because it's it's it's it's like no, no, no,

0:15:57.760 --> 0:15:58.360
<v Speaker 3>it was rare.

0:15:58.440 --> 0:15:59.640
<v Speaker 5>So it was like it's like the.

0:15:59.640 --> 0:16:01.840
<v Speaker 3>Unicorn there, It's like, yo, do they eat the regular

0:16:01.880 --> 0:16:03.640
<v Speaker 3>food or you know, what I'm saying, like it was

0:16:03.720 --> 0:16:05.400
<v Speaker 3>under that premise, like how do.

0:16:05.400 --> 0:16:08.640
<v Speaker 2>I treat this elephant doesn't eat regular I don't, I

0:16:08.640 --> 0:16:10.600
<v Speaker 2>don't know, I never had one.

0:16:11.520 --> 0:16:13.400
<v Speaker 3>I'm like, my thing is like a white elephant doesn't

0:16:13.400 --> 0:16:15.000
<v Speaker 3>even to be around the story.

0:16:15.160 --> 0:16:15.640
<v Speaker 5>You know what I'm saying.

0:16:15.640 --> 0:16:20.080
<v Speaker 2>I'm saying, it's not real story. No, no, that was

0:16:20.080 --> 0:16:20.800
<v Speaker 2>like a real story.

0:16:22.360 --> 0:16:25.720
<v Speaker 3>That's like like a unicorn, Like we've never seen a unicorn,

0:16:25.880 --> 0:16:26.840
<v Speaker 3>but like how do you.

0:16:26.760 --> 0:16:27.520
<v Speaker 5>Feed a unicorn?

0:16:27.680 --> 0:16:30.400
<v Speaker 6>Santa Claus, I've never seen Santa.

0:16:29.960 --> 0:16:32.480
<v Speaker 5>Yeah, you thought like it was it was a problem.

0:16:33.000 --> 0:16:33.920
<v Speaker 2>I thought it's a real story.

0:16:34.080 --> 0:16:35.520
<v Speaker 5>No, no, no, no, no, no, no, no.

0:16:37.840 --> 0:16:39.720
<v Speaker 2>Shots white elephants in.

0:16:39.720 --> 0:16:43.320
<v Speaker 3>The world, Like remember in Greece, Remember did you post that?

0:16:44.080 --> 0:16:46.720
<v Speaker 3>What in Greece where they have like Athens? What it

0:16:46.760 --> 0:16:50.080
<v Speaker 3>looks like now they have the Olympics in twenty ten.

0:16:50.840 --> 0:16:52.360
<v Speaker 2>You know what I'm saying, Like what it like?

0:16:52.480 --> 0:16:53.520
<v Speaker 5>Have you seen what it looks like?

0:16:53.600 --> 0:16:53.720
<v Speaker 2>Now?

0:16:53.920 --> 0:16:56.240
<v Speaker 5>It's ridiculous, completely run down.

0:16:56.760 --> 0:16:59.840
<v Speaker 3>They can't waste the money, wasted money just to have

0:17:00.040 --> 0:17:01.920
<v Speaker 3>this one event, like these things are white out.

0:17:01.920 --> 0:17:04.520
<v Speaker 5>The same things gonna happen in real Like some places

0:17:04.880 --> 0:17:05.439
<v Speaker 5>should not have.

0:17:05.480 --> 0:17:09.920
<v Speaker 2>The Olympics they built the stadium in the rainforest. Wow.

0:17:11.160 --> 0:17:13.040
<v Speaker 3>And when they try to when they try to have events,

0:17:13.119 --> 0:17:15.600
<v Speaker 3>it was the whole city flooded. Nobody can get to

0:17:15.640 --> 0:17:18.800
<v Speaker 3>the events. It's like, all right, you spent eighty million

0:17:18.840 --> 0:17:21.240
<v Speaker 3>dollars to build the state, probably more now we have.

0:17:21.280 --> 0:17:24.320
<v Speaker 2>No use for it because you can't even play an

0:17:24.320 --> 0:17:25.680
<v Speaker 2>abandoned stadium in the rainforest.

0:17:25.720 --> 0:17:26.440
<v Speaker 6>It's ridiculous.

0:17:26.800 --> 0:17:28.440
<v Speaker 3>They were like, oh, we'll have club teams come, but

0:17:28.520 --> 0:17:30.920
<v Speaker 3>they a club team's not going. Some of these club

0:17:30.920 --> 0:17:32.400
<v Speaker 3>teams can't put one hundred thousand.

0:17:32.200 --> 0:17:32.639
<v Speaker 2>People in there.

0:17:33.000 --> 0:17:34.800
<v Speaker 5>They can't afford to go to the games. The environment

0:17:34.840 --> 0:17:35.520
<v Speaker 5>you're building.

0:17:35.240 --> 0:17:38.720
<v Speaker 2>It is terrible, man, Yeah, but it is what it is. Well,

0:17:39.480 --> 0:17:40.080
<v Speaker 2>there you have it.

0:17:40.800 --> 0:17:43.199
<v Speaker 3>We're gonna talk today about how to get really real

0:17:43.320 --> 0:17:46.560
<v Speaker 3>estate one on one. So for an average person that

0:17:46.720 --> 0:17:50.399
<v Speaker 3>doesn't come from, you know, a fluent, affluent family and

0:17:50.800 --> 0:17:54.600
<v Speaker 3>low socio economic environment, how does someone get into real estate?

0:17:54.760 --> 0:17:56.480
<v Speaker 5>Like what would be the first step?

0:17:57.440 --> 0:18:00.800
<v Speaker 6>Oh? Man, The first step, personally, I think is mindset.

0:18:00.800 --> 0:18:04.239
<v Speaker 4>You got to make the decision. I think that's numero uno, right.

0:18:04.440 --> 0:18:07.520
<v Speaker 4>But as far as financing, you need to get pre approved,

0:18:07.600 --> 0:18:10.040
<v Speaker 4>you need to know exactly what you can qualify for.

0:18:10.840 --> 0:18:14.119
<v Speaker 4>There's several different loans out there. So let's speak to

0:18:14.280 --> 0:18:17.760
<v Speaker 4>the first time home buyer right now. What I try

0:18:17.840 --> 0:18:20.080
<v Speaker 4>to coach all my first time home buyers is, you know,

0:18:20.200 --> 0:18:22.760
<v Speaker 4>most people want to go ahead and go to White

0:18:22.800 --> 0:18:25.000
<v Speaker 4>Planes or go to Long Island and buy the nice

0:18:25.040 --> 0:18:27.639
<v Speaker 4>single family home with the white pick offense and this,

0:18:27.760 --> 0:18:29.440
<v Speaker 4>that and the third right, which is cool. If that's

0:18:29.480 --> 0:18:31.159
<v Speaker 4>what you want to do, that's what.

0:18:31.240 --> 0:18:34.359
<v Speaker 6>You gotta do. What you gotta do. You got to

0:18:34.400 --> 0:18:35.479
<v Speaker 6>have the money for it though, right.

0:18:35.520 --> 0:18:37.600
<v Speaker 4>But what I try to encourage all my first time

0:18:37.680 --> 0:18:39.320
<v Speaker 4>home buy is, if you don't have a need for

0:18:39.440 --> 0:18:41.720
<v Speaker 4>the certain school district, or if you don't have, you know,

0:18:42.400 --> 0:18:44.800
<v Speaker 4>children that's going to junior high school or high school,

0:18:45.119 --> 0:18:47.000
<v Speaker 4>then you should always start off with a multi family,

0:18:47.119 --> 0:18:49.080
<v Speaker 4>especially if you know you're looking to get into real

0:18:49.160 --> 0:18:51.680
<v Speaker 4>estate investment. You know at some point in your life,

0:18:52.119 --> 0:18:54.879
<v Speaker 4>start off with a multi family anywhere between two to

0:18:55.040 --> 0:18:58.320
<v Speaker 4>four units. And you can use programs like FAHA, which

0:18:58.359 --> 0:19:00.159
<v Speaker 4>allows you to put down as little west and.

0:19:00.160 --> 0:19:03.680
<v Speaker 6>A half percent as a down payment, which is a

0:19:03.800 --> 0:19:05.240
<v Speaker 6>terrific program.

0:19:05.560 --> 0:19:08.920
<v Speaker 5>So three and a half would be that's pretty small percentage.

0:19:09.000 --> 0:19:11.760
<v Speaker 3>Yeah, as opposed to if I had to just outright

0:19:12.040 --> 0:19:13.960
<v Speaker 3>put what is it normally twenty percent or no?

0:19:14.040 --> 0:19:16.560
<v Speaker 4>No, So you have FHA that allows you to put

0:19:16.640 --> 0:19:19.480
<v Speaker 4>down three and a half percent, and also conventional loans

0:19:19.480 --> 0:19:21.320
<v Speaker 4>allow you to put down a US three percent, but

0:19:21.440 --> 0:19:22.360
<v Speaker 4>you have to qualify.

0:19:22.440 --> 0:19:24.760
<v Speaker 6>You have to be a certain income restrictions.

0:19:25.080 --> 0:19:27.480
<v Speaker 4>If you're buying multi families, you have the you know

0:19:27.560 --> 0:19:30.639
<v Speaker 4>white planes, the income restriction is probably ninety six thousand,

0:19:31.440 --> 0:19:33.960
<v Speaker 4>So if you exceed that, then you won't qualify for

0:19:34.040 --> 0:19:36.920
<v Speaker 4>that three percent down on a multi family. Then you'll

0:19:36.920 --> 0:19:39.359
<v Speaker 4>probably have to put down as fifteen percent because it's.

0:19:39.200 --> 0:19:40.360
<v Speaker 6>Gonna be a primary residence.

0:19:40.480 --> 0:19:43.080
<v Speaker 4>But FHA is always a good tool because no matter

0:19:43.320 --> 0:19:46.040
<v Speaker 4>it does I have any income restrictions, as long as

0:19:46.080 --> 0:19:49.200
<v Speaker 4>you're within the county's loan limits, then you can and

0:19:49.280 --> 0:19:52.320
<v Speaker 4>you can credit an income qualify which minimum credit scores

0:19:52.320 --> 0:19:55.480
<v Speaker 4>a five to eighty for FHA loans, were putting down

0:19:55.480 --> 0:19:57.560
<v Speaker 4>as little as three and a half percent. Buy that

0:19:57.720 --> 0:20:00.640
<v Speaker 4>multifamily and you can live in it for twelve months

0:20:00.680 --> 0:20:02.520
<v Speaker 4>and then move out of it, and then you can

0:20:02.560 --> 0:20:05.240
<v Speaker 4>writ the entire the entire place out and now you

0:20:05.560 --> 0:20:08.479
<v Speaker 4>created a cash flow investment property for yourself. And now

0:20:08.520 --> 0:20:10.280
<v Speaker 4>you can now go ahead and go buy your one

0:20:10.359 --> 0:20:14.040
<v Speaker 4>family or your condo or whatever you want, and now

0:20:14.119 --> 0:20:15.720
<v Speaker 4>put them in on down payment as well.

0:20:15.840 --> 0:20:19.720
<v Speaker 5>So each county has a set loan limits.

0:20:19.400 --> 0:20:23.199
<v Speaker 4>That you said, yeah, so faha has Every county is different, right,

0:20:23.320 --> 0:20:26.960
<v Speaker 4>So we're in like five boroughs west Chester, Long Island.

0:20:27.359 --> 0:20:30.000
<v Speaker 6>So up to a fourth family, we can go to

0:20:30.119 --> 0:20:31.879
<v Speaker 6>one point three non seven million.

0:20:32.080 --> 0:20:34.919
<v Speaker 4>Every county in America, every county in America. So if

0:20:35.000 --> 0:20:38.360
<v Speaker 4>you're you know, your audience is probably all over the place, right,

0:20:38.560 --> 0:20:40.600
<v Speaker 4>So if you want to know what your county loan

0:20:40.680 --> 0:20:43.080
<v Speaker 4>limit is, just you can google it again. You know,

0:20:43.160 --> 0:20:46.119
<v Speaker 4>if you're living in Kentucky, you can google, you know,

0:20:46.640 --> 0:20:50.040
<v Speaker 4>fah loan limits for Kentucky or whatever counties in Kentucky.

0:20:50.280 --> 0:20:53.960
<v Speaker 4>Or if you're in Georgia, if you're in when It County,

0:20:54.320 --> 0:20:57.600
<v Speaker 4>you can google fah loan limits for when It County, right,

0:20:57.640 --> 0:20:59.920
<v Speaker 4>and they will tell you for one family, do play

0:21:00.280 --> 0:21:02.399
<v Speaker 4>droplex four plex that's what they call it out there.

0:21:02.440 --> 0:21:02.840
<v Speaker 6>So that's why.

0:21:02.960 --> 0:21:05.480
<v Speaker 2>So that's interesting because yeah, so that's interesting that you

0:21:05.560 --> 0:21:07.920
<v Speaker 2>say that your first home should be a multi family.

0:21:07.920 --> 0:21:08.920
<v Speaker 6>You should be a multi family.

0:21:08.920 --> 0:21:11.199
<v Speaker 2>A lot of people have the reverse mindset where they

0:21:11.240 --> 0:21:13.840
<v Speaker 2>want to get the picket white fins as their first home,

0:21:13.960 --> 0:21:17.160
<v Speaker 2>and then if they want to get like an investment property,

0:21:17.200 --> 0:21:18.520
<v Speaker 2>then they'll look at multi family.

0:21:18.640 --> 0:21:18.840
<v Speaker 6>Yeah.

0:21:18.880 --> 0:21:21.280
<v Speaker 4>But see that's where they screw themselves, right, because now

0:21:21.400 --> 0:21:23.240
<v Speaker 4>when you go ahead and you do that one family

0:21:23.359 --> 0:21:25.280
<v Speaker 4>first and you go do the multi family second, now

0:21:25.280 --> 0:21:27.840
<v Speaker 4>you gotta put down twenty five percent. Now unless you

0:21:27.920 --> 0:21:31.040
<v Speaker 4>have twenty five percent plus closing costs, which is probably

0:21:31.160 --> 0:21:34.080
<v Speaker 4>you're gonna probably spend around thirty percent for that transaction.

0:21:34.600 --> 0:21:37.640
<v Speaker 4>Then guess what you just screwed yourself. Now it's gonna

0:21:37.680 --> 0:21:39.480
<v Speaker 4>it's gonna be harder for you to get into that

0:21:39.640 --> 0:21:42.080
<v Speaker 4>investment game. Now if you go ahead and you buy

0:21:42.160 --> 0:21:45.000
<v Speaker 4>that one that multi family first using three and a

0:21:45.000 --> 0:21:47.720
<v Speaker 4>half percent plus your closing costs, now you have a

0:21:47.840 --> 0:21:51.160
<v Speaker 4>multi family. Potentially it's you're gonna live in it because

0:21:51.200 --> 0:21:53.320
<v Speaker 4>it has to be your prominent residence. You have to

0:21:53.400 --> 0:21:56.400
<v Speaker 4>live in it for twelve months. Right after twelve months,

0:21:56.440 --> 0:21:59.520
<v Speaker 4>you can move out free and clear, no problem. Now

0:21:59.680 --> 0:22:02.520
<v Speaker 4>go ahead ahead and buy another one family, buy one

0:22:02.600 --> 0:22:05.760
<v Speaker 4>family property, and now still do a minimum down payment

0:22:05.840 --> 0:22:09.440
<v Speaker 4>loan because you're moving out of one and moving into

0:22:09.480 --> 0:22:11.800
<v Speaker 4>the other as your primary residence. So the key to

0:22:11.960 --> 0:22:14.480
<v Speaker 4>anything is all on how you're structure on your loans

0:22:14.520 --> 0:22:15.520
<v Speaker 4>and structureing your deal.

0:22:15.840 --> 0:22:16.000
<v Speaker 6>Right.

0:22:16.040 --> 0:22:19.480
<v Speaker 4>And if once you say investment property, you automatically think

0:22:19.600 --> 0:22:22.080
<v Speaker 4>twenty five percent down payment, you say.

0:22:22.200 --> 0:22:23.600
<v Speaker 6>Difference, that's a huge difference.

0:22:23.600 --> 0:22:26.480
<v Speaker 4>And especially here and where we are, you know that

0:22:26.560 --> 0:22:28.960
<v Speaker 4>can be a couple hundred grand depending on that sales price.

0:22:29.040 --> 0:22:31.240
<v Speaker 4>But if you go ahead and do multi family first

0:22:31.600 --> 0:22:34.720
<v Speaker 4>minimum down payment, twelve months, you move out, move into

0:22:34.760 --> 0:22:35.520
<v Speaker 4>your single family.

0:22:35.760 --> 0:22:37.359
<v Speaker 6>Now you have an asset that's going to pay for

0:22:37.440 --> 0:22:38.639
<v Speaker 6>itself and probably pay.

0:22:38.560 --> 0:22:41.440
<v Speaker 4>For your one family or a portion of that one family.

0:22:41.720 --> 0:22:44.800
<v Speaker 4>Right now, you created some sort of cash flow I have.

0:22:44.960 --> 0:22:47.240
<v Speaker 4>I've had clients move from four family to a two

0:22:47.320 --> 0:22:50.520
<v Speaker 4>family you know, and still was able to use minimum

0:22:50.640 --> 0:22:53.359
<v Speaker 4>down payments. Now, if you use an FAHA loan, you

0:22:53.480 --> 0:22:55.959
<v Speaker 4>can't go ahead move out of that four family property

0:22:56.160 --> 0:22:58.640
<v Speaker 4>FAHA and then going to the two family FAHA because

0:22:58.720 --> 0:23:01.120
<v Speaker 4>FAHA changed their rules or a couple of years ago.

0:23:01.480 --> 0:23:05.439
<v Speaker 6>You can't have two FAHA loans at the same time now, right.

0:23:05.520 --> 0:23:06.640
<v Speaker 5>But you could use it again.

0:23:07.000 --> 0:23:08.639
<v Speaker 2>What your loan if you reach what.

0:23:08.720 --> 0:23:11.600
<v Speaker 4>I tell everybody is this right, you buy that four

0:23:11.680 --> 0:23:14.960
<v Speaker 4>family or that multi family, you stay in there, you

0:23:15.119 --> 0:23:18.560
<v Speaker 4>refinance it, you get out of the FAH loan, and

0:23:18.640 --> 0:23:21.760
<v Speaker 4>you go into a conventional mortgage. Right, probably try to

0:23:21.800 --> 0:23:23.960
<v Speaker 4>pull some equity out of that home so that way,

0:23:24.080 --> 0:23:26.080
<v Speaker 4>now you can use that equity as a down.

0:23:26.000 --> 0:23:29.760
<v Speaker 6>Payment for your new property. Now you're refinancing as.

0:23:29.600 --> 0:23:33.000
<v Speaker 4>A primary primary residence because you're still technically living in there,

0:23:33.720 --> 0:23:36.360
<v Speaker 4>but your intent is obviously at some point to move

0:23:36.440 --> 0:23:39.159
<v Speaker 4>out of it. Now you're taking that equity. You have

0:23:39.760 --> 0:23:42.200
<v Speaker 4>a conventional loan on it. Now, now you're going to

0:23:42.240 --> 0:23:44.800
<v Speaker 4>buy your one family. Great, you're gonna go move in

0:23:44.840 --> 0:23:46.960
<v Speaker 4>that one family. Now you can use FAHA for that

0:23:47.119 --> 0:23:49.920
<v Speaker 4>one family because this four family or multi family is

0:23:49.960 --> 0:23:52.520
<v Speaker 4>now in a conventional mortgage, and you took the equity

0:23:52.560 --> 0:23:52.800
<v Speaker 4>out of.

0:23:52.840 --> 0:23:55.560
<v Speaker 6>There to help you purchase that one family.

0:23:55.640 --> 0:23:58.280
<v Speaker 4>And now your tenants are not only paying for this property,

0:23:58.760 --> 0:24:00.960
<v Speaker 4>now they're gonna help pay for the property depending on

0:24:01.000 --> 0:24:04.760
<v Speaker 4>the rentals and cash flow of that proper. Because it's

0:24:04.800 --> 0:24:06.639
<v Speaker 4>all about strategy at the end of the day, and

0:24:06.720 --> 0:24:09.560
<v Speaker 4>most people don't lead with strategy. Most people lead with emotion.

0:24:10.200 --> 0:24:12.560
<v Speaker 4>And this is business at the end of the day.

0:24:12.720 --> 0:24:15.320
<v Speaker 4>Like you know, I try to coach all my my

0:24:15.520 --> 0:24:18.560
<v Speaker 4>buyers think business. I don't care if you're going to

0:24:18.600 --> 0:24:20.800
<v Speaker 4>live there. I don't care about any of that stuff.

0:24:21.000 --> 0:24:23.200
<v Speaker 6>Men live, women live. Numbers don't at the end of

0:24:23.240 --> 0:24:23.560
<v Speaker 6>the day.

0:24:23.560 --> 0:24:26.280
<v Speaker 4>And if you're telling me your goals are to invest

0:24:26.320 --> 0:24:29.000
<v Speaker 4>in are to invest in real estate, then you need

0:24:29.080 --> 0:24:31.920
<v Speaker 4>to think like an investor. Every first time home buyer

0:24:32.000 --> 0:24:34.879
<v Speaker 4>should be thinking like an investor. Why go buy the flip?

0:24:35.560 --> 0:24:38.440
<v Speaker 4>Why when there's programs out there for the first time

0:24:38.480 --> 0:24:40.120
<v Speaker 4>home buy like an f h A two or three

0:24:40.200 --> 0:24:42.840
<v Speaker 4>k long or Fanny Made Homestyle loan where you can

0:24:42.880 --> 0:24:44.720
<v Speaker 4>get renovation and your mortgage money.

0:24:44.680 --> 0:24:47.520
<v Speaker 6>All in one, all in one loan. So why not

0:24:47.640 --> 0:24:50.800
<v Speaker 6>going by look, we spoke about Envy and Cason.

0:24:51.080 --> 0:24:54.440
<v Speaker 4>These guys are not buying the flip, right, They're going

0:24:54.440 --> 0:24:56.520
<v Speaker 4>ahead and they're buying at the foreclosure auctions.

0:24:56.520 --> 0:24:57.600
<v Speaker 6>They're buying short sales.

0:24:57.640 --> 0:25:00.320
<v Speaker 4>They buy the worst house in the best the best

0:25:00.400 --> 0:25:02.640
<v Speaker 4>areas that they can and they're putting that money into

0:25:02.720 --> 0:25:05.840
<v Speaker 4>it and now they're making their roy Why can't every

0:25:05.880 --> 0:25:07.639
<v Speaker 4>first time home buy I think the same way like

0:25:07.720 --> 0:25:10.520
<v Speaker 4>the investor. Why does the nbs and the seasons of

0:25:10.560 --> 0:25:12.720
<v Speaker 4>the world need to make all the money. Why can't

0:25:12.760 --> 0:25:15.800
<v Speaker 4>the first time home buy have that same strategy and

0:25:15.920 --> 0:25:17.800
<v Speaker 4>make the same returns. But you're gonna live in it

0:25:17.880 --> 0:25:20.000
<v Speaker 4>for a year, two years, three years, whatever the case

0:25:20.080 --> 0:25:24.000
<v Speaker 4>may be. But now you're buying under market. That's the whole.

0:25:24.080 --> 0:25:26.760
<v Speaker 2>So you would encourage anybody to go into buying a

0:25:26.800 --> 0:25:29.240
<v Speaker 2>home as an investment. Like, even if somebody doesn't necessarily

0:25:29.240 --> 0:25:31.840
<v Speaker 2>look at themselves a real estate investor, I guess they

0:25:31.880 --> 0:25:33.919
<v Speaker 2>are a real estate investor by absolutely buying home your

0:25:33.960 --> 0:25:37.440
<v Speaker 2>investor investment. Whether you think you're investor or not, you're investment.

0:25:37.560 --> 0:25:38.359
<v Speaker 6>You're investing or not.

0:25:38.520 --> 0:25:41.439
<v Speaker 4>So some people will tell you out there that your

0:25:41.520 --> 0:25:43.679
<v Speaker 4>primary residence or a single family home is not an

0:25:43.720 --> 0:25:47.840
<v Speaker 4>investment because it doesn't generate cash flow, right, which is true.

0:25:47.920 --> 0:25:50.120
<v Speaker 4>But to me, I don't think that's one hundred percent

0:25:50.200 --> 0:25:53.400
<v Speaker 4>trul because you're looking at that equity, right. That equity

0:25:53.520 --> 0:25:55.840
<v Speaker 4>is what that first time home buyer should be paying

0:25:55.840 --> 0:25:58.600
<v Speaker 4>attention to. And when that equity gets to a certain position,

0:25:58.760 --> 0:26:01.560
<v Speaker 4>you need to thing it. You need to do something

0:26:01.600 --> 0:26:05.119
<v Speaker 4>with it, because equity is monopoly money. It's not guaranteed.

0:26:05.280 --> 0:26:08.320
<v Speaker 4>The market crash twelve years ago, right when every home

0:26:08.480 --> 0:26:11.520
<v Speaker 4>was depreciating across America. So if that doesn't tell people

0:26:11.600 --> 0:26:13.760
<v Speaker 4>that equity is monopoly money, I don't know what's going

0:26:13.840 --> 0:26:15.760
<v Speaker 4>to tell them. So I have people right now that

0:26:15.920 --> 0:26:19.639
<v Speaker 4>may purchase a home in twenty eleven, twenty twelve. Now

0:26:19.680 --> 0:26:21.879
<v Speaker 4>they may have two hundred three hundred thousand equity and

0:26:21.920 --> 0:26:22.680
<v Speaker 4>they don't want to touch it.

0:26:22.720 --> 0:26:23.960
<v Speaker 6>I'm like, what are you doing?

0:26:24.680 --> 0:26:26.879
<v Speaker 4>You need to take that money and do something with

0:26:27.040 --> 0:26:30.040
<v Speaker 4>it because if the market corrects itself, which it will

0:26:30.200 --> 0:26:32.480
<v Speaker 4>at some point, now, you're going to kick yourself that.

0:26:32.680 --> 0:26:36.199
<v Speaker 6>You didn't jump in the game. Take earners, what's up?

0:26:36.320 --> 0:26:38.720
<v Speaker 3>You ever walk into a small business and everything just

0:26:38.960 --> 0:26:42.080
<v Speaker 3>works like the checkout is fast, the receipts are digital,

0:26:42.680 --> 0:26:45.639
<v Speaker 3>tipping is a breeze, and you're out the door before

0:26:45.640 --> 0:26:49.760
<v Speaker 3>the line even builds. Odds are they're using Square? We

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0:27:09.359 --> 0:27:12.840
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0:27:45.080 --> 0:27:46.960
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<v Speaker 3>people think podcasts about work are boring, and sure, they

0:27:50.680 --> 0:27:54.520
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0:27:54.560 --> 0:27:58.160
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0:27:59.200 --> 0:28:02.040
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<v Speaker 4>Get money to invest in these opportunities, zones right and

0:29:27.680 --> 0:29:31.320
<v Speaker 4>build that generational well for yourself. Because the market doesn't

0:29:31.400 --> 0:29:33.680
<v Speaker 4>care about what's going on on the market is going

0:29:33.760 --> 0:29:35.440
<v Speaker 4>to do what the market wants to do. So what

0:29:35.640 --> 0:29:38.680
<v Speaker 4>I try to coach all my buyers, my sellers, my

0:29:38.800 --> 0:29:43.200
<v Speaker 4>current homeowners whoever, don't let equity sit there because it's

0:29:43.240 --> 0:29:43.920
<v Speaker 4>not guaranteed.

0:29:44.320 --> 0:29:45.160
<v Speaker 6>You got to use it.

0:29:45.280 --> 0:29:47.600
<v Speaker 4>If you don't use it, then it's not it's nothing.

0:29:48.440 --> 0:29:53.320
<v Speaker 4>It's monopoly money that's rue. Don't the single family home

0:29:53.400 --> 0:29:55.280
<v Speaker 4>is great, and I don't have nothing against the single

0:29:55.320 --> 0:29:59.240
<v Speaker 4>family home, but I think the strategy moving forward should

0:29:59.280 --> 0:30:02.120
<v Speaker 4>be multi fans. The first single families laid it down

0:30:02.120 --> 0:30:04.240
<v Speaker 4>the road because you can always buy a single family home.

0:30:04.400 --> 0:30:06.560
<v Speaker 4>There's never going to be a shortage of that. Look,

0:30:06.560 --> 0:30:09.719
<v Speaker 4>what's happening in housing is expensive. Rents are going up.

0:30:10.240 --> 0:30:12.680
<v Speaker 4>The rental market is booming right now. So why not

0:30:12.840 --> 0:30:16.640
<v Speaker 4>put yourself in that position to be our owner occupied

0:30:16.760 --> 0:30:20.760
<v Speaker 4>landlord where you can basically live for free. Now have

0:30:20.920 --> 0:30:23.320
<v Speaker 4>your job, Now you can save all that money to

0:30:23.440 --> 0:30:24.600
<v Speaker 4>reinvest into other realms.

0:30:24.640 --> 0:30:26.480
<v Speaker 2>I think it goes back to where our guests last

0:30:26.520 --> 0:30:27.960
<v Speaker 2>week talked about as far as a lot of times

0:30:28.000 --> 0:30:31.000
<v Speaker 2>we care about how we're perceived exactly, and it's like, Okay,

0:30:31.560 --> 0:30:34.360
<v Speaker 2>well how would I look living in a three family home.

0:30:34.480 --> 0:30:37.160
<v Speaker 2>I'd rather have the white picket fence with your back

0:30:37.200 --> 0:30:37.560
<v Speaker 2>yard and.

0:30:37.520 --> 0:30:39.880
<v Speaker 6>All that well, with the Mercedes outside.

0:30:42.760 --> 0:30:45.400
<v Speaker 2>When you look at it from a financial standpoint, from

0:30:45.400 --> 0:30:47.960
<v Speaker 2>a lot of different reasons, it does make sense.

0:30:48.040 --> 0:30:51.120
<v Speaker 6>Oh absolutely. And the piggyback off of episode eleven, which.

0:30:51.000 --> 0:30:55.320
<v Speaker 4>Was a phenomenal, phenomenal, phenomenal phenomenal episode. So if you

0:30:55.360 --> 0:30:57.880
<v Speaker 4>guys haven't watched it eleven, you need to watch that

0:30:58.040 --> 0:31:00.960
<v Speaker 4>before you watch this all the other ten two.

0:31:01.200 --> 0:31:03.520
<v Speaker 2>But episode eleven was fire.

0:31:03.280 --> 0:31:06.800
<v Speaker 4>Right, So what he brought up a great point, right,

0:31:06.920 --> 0:31:10.120
<v Speaker 4>mixed use properties, which mixed use properties are.

0:31:10.040 --> 0:31:11.840
<v Speaker 6>Common where we are in New York.

0:31:12.640 --> 0:31:15.600
<v Speaker 4>You can use faha long to purchase a mixed use property,

0:31:15.640 --> 0:31:17.760
<v Speaker 4>which a lot of people don't know and put down

0:31:17.840 --> 0:31:20.920
<v Speaker 4>during a half percent as long as fifty one percent

0:31:21.120 --> 0:31:24.040
<v Speaker 4>of that mixed use is residential. So you can go

0:31:24.160 --> 0:31:26.720
<v Speaker 4>ahead and buy that mixed use that may have a storefront,

0:31:26.760 --> 0:31:30.400
<v Speaker 4>but two apartments or three apartments as residential. And if

0:31:30.440 --> 0:31:32.320
<v Speaker 4>you're a business owner, if you're like he said, he

0:31:32.520 --> 0:31:35.320
<v Speaker 4>runs a restaurant, now he can live in that one

0:31:35.400 --> 0:31:38.040
<v Speaker 4>of the units, have the restaurant and still have two

0:31:38.160 --> 0:31:41.479
<v Speaker 4>rental incomes coming in to help support everything.

0:31:41.560 --> 0:31:42.400
<v Speaker 6>Now living for free.

0:31:42.520 --> 0:31:45.280
<v Speaker 4>His business is for free, and the mortgage is being

0:31:45.320 --> 0:31:47.239
<v Speaker 4>paid off, and you can use the two or three

0:31:47.320 --> 0:31:48.320
<v Speaker 4>k long to renovate it.

0:31:48.400 --> 0:31:50.880
<v Speaker 6>So you can go buy the piece of shit mixed

0:31:50.960 --> 0:31:52.800
<v Speaker 6>use property and use.

0:31:52.680 --> 0:31:54.960
<v Speaker 4>That renovation money is to fix it up, clean it

0:31:55.080 --> 0:31:57.000
<v Speaker 4>up and open up a business or rent it out

0:31:57.040 --> 0:31:59.760
<v Speaker 4>to another business, own up the commercial aspect of it.

0:32:00.040 --> 0:32:02.880
<v Speaker 4>And now commercial rents are much higher than residential rents.

0:32:03.280 --> 0:32:06.360
<v Speaker 4>So again, living in for one year, now you move out.

0:32:06.560 --> 0:32:10.280
<v Speaker 4>Now you have a commercial property all under three and

0:32:10.320 --> 0:32:12.880
<v Speaker 4>a half under an FHA loan with three and a

0:32:12.880 --> 0:32:13.200
<v Speaker 4>half per.

0:32:13.160 --> 0:32:14.600
<v Speaker 6>Cent down plus your closing costs.

0:32:14.600 --> 0:32:16.120
<v Speaker 4>You got to know the game, man, You gotta know

0:32:16.640 --> 0:32:19.200
<v Speaker 4>it's all about It's all about strategy. And most people,

0:32:19.560 --> 0:32:22.000
<v Speaker 4>especially listen, we're in the age of the business owner

0:32:22.040 --> 0:32:22.760
<v Speaker 4>the entrepreneur.

0:32:22.920 --> 0:32:23.040
<v Speaker 2>Right.

0:32:23.400 --> 0:32:26.000
<v Speaker 4>Most people don't think you still need a brick and mortar,

0:32:26.040 --> 0:32:28.760
<v Speaker 4>but some businesses you need a brick and mortar, right,

0:32:28.840 --> 0:32:31.360
<v Speaker 4>depending on if you're in a service industry or whatever

0:32:31.440 --> 0:32:32.880
<v Speaker 4>the case may be. If you're in retail, if you

0:32:32.920 --> 0:32:35.000
<v Speaker 4>want to open up a store or restaurant, like you said,

0:32:35.000 --> 0:32:36.920
<v Speaker 4>it's one of the toughest businesses because.

0:32:36.720 --> 0:32:39.120
<v Speaker 6>The overhead right and rent is a big thing.

0:32:39.600 --> 0:32:42.320
<v Speaker 4>But if you have a mixed use property and you

0:32:42.360 --> 0:32:45.200
<v Speaker 4>want to open up a restaurant, why not use that

0:32:45.280 --> 0:32:48.200
<v Speaker 4>as your primary residents also for at least twelve months.

0:32:48.280 --> 0:32:52.360
<v Speaker 4>For that twelve month sacrifice, get the loan living there

0:32:52.400 --> 0:32:54.440
<v Speaker 4>because you always can move out. And now you have

0:32:55.520 --> 0:32:59.440
<v Speaker 4>a business that's basically in there for free because you

0:32:59.520 --> 0:33:02.720
<v Speaker 4>let so you get you know, you're killing two birds

0:33:02.720 --> 0:33:05.200
<v Speaker 4>with one stone speak. You get rental and your business

0:33:05.280 --> 0:33:07.880
<v Speaker 4>in there, and your your business is not going to

0:33:07.960 --> 0:33:11.000
<v Speaker 4>have all that overhead of the pressure of paying the

0:33:11.080 --> 0:33:13.080
<v Speaker 4>rent because you know what, it's your mortgage and your

0:33:13.120 --> 0:33:14.360
<v Speaker 4>tenants are paying for it upstairs.

0:33:15.240 --> 0:33:16.880
<v Speaker 6>So it's all about strategy.

0:33:16.560 --> 0:33:16.880
<v Speaker 5>All right.

0:33:17.000 --> 0:33:19.120
<v Speaker 2>So now we're going it's not all good in real estate.

0:33:19.160 --> 0:33:23.280
<v Speaker 2>It's never always a dangerous Now we're going we're going

0:33:23.320 --> 0:33:29.280
<v Speaker 2>to explain that how things can go wrong, all right. So,

0:33:30.040 --> 0:33:32.320
<v Speaker 2>as I said, it's never all good in anything in life.

0:33:32.440 --> 0:33:32.560
<v Speaker 5>Right.

0:33:33.280 --> 0:33:38.719
<v Speaker 2>So real estate is something that's very popular, very trendy

0:33:38.960 --> 0:33:41.400
<v Speaker 2>right now, and it's very it has this stigma I

0:33:41.520 --> 0:33:44.000
<v Speaker 2>think of everybody thinks they're just gonna get rich overnight, right,

0:33:44.000 --> 0:33:46.640
<v Speaker 2>and people don't know it's like any business. You know,

0:33:46.800 --> 0:33:48.800
<v Speaker 2>when you go into business without a plan, your destined

0:33:48.800 --> 0:33:50.800
<v Speaker 2>to faiel. Right, So if you plan to be a

0:33:50.840 --> 0:33:53.080
<v Speaker 2>real estate investor. And as you said, whether you think

0:33:53.120 --> 0:33:55.000
<v Speaker 2>you're investor or not, if you're buying a home, you're

0:33:55.000 --> 0:33:57.920
<v Speaker 2>an investor. But you don't have a plan in place,

0:33:58.000 --> 0:34:01.400
<v Speaker 2>then you're gonna aid probably make mistakes and worst Populica scenario,

0:34:01.440 --> 0:34:02.040
<v Speaker 2>you're gonna fail.

0:34:02.360 --> 0:34:02.680
<v Speaker 6>Correct.

0:34:02.720 --> 0:34:05.200
<v Speaker 2>Right, So this dudes and don'ts involve, right?

0:34:05.320 --> 0:34:05.760
<v Speaker 6>Absolutely?

0:34:05.800 --> 0:34:09.239
<v Speaker 2>Can you just talk about some dudes and don'ts in game?

0:34:09.400 --> 0:34:11.480
<v Speaker 4>Yeah, there's tons of them. Right, But if your first

0:34:11.520 --> 0:34:13.920
<v Speaker 4>time home by one of the don'ts I tell people

0:34:14.080 --> 0:34:18.239
<v Speaker 4>is especially if you're in the application process, you found

0:34:18.280 --> 0:34:22.920
<v Speaker 4>the house, you're in contract, don't open new debt, don't

0:34:23.360 --> 0:34:26.479
<v Speaker 4>buy your Mercedes bends before you go to closing. Don't

0:34:26.600 --> 0:34:29.959
<v Speaker 4>change your jobs, you know, don't do something that would

0:34:30.200 --> 0:34:33.280
<v Speaker 4>impact you in a negative way to turn your approval

0:34:33.680 --> 0:34:36.600
<v Speaker 4>to a decline. Right, And most people you think is

0:34:36.680 --> 0:34:40.399
<v Speaker 4>common sense, right, but common sense is not common Unfortunately

0:34:40.480 --> 0:34:41.160
<v Speaker 4>they're not true.

0:34:41.520 --> 0:34:43.879
<v Speaker 3>Most people like they don't realize, Like when you apply

0:34:44.000 --> 0:34:46.080
<v Speaker 3>for a card, they do a credit check, then they

0:34:46.120 --> 0:34:47.080
<v Speaker 3>have to put your credit.

0:34:47.280 --> 0:34:48.000
<v Speaker 6>That they don't realize.

0:34:48.040 --> 0:34:49.839
<v Speaker 4>When you go for a car, they may pull your

0:34:49.880 --> 0:34:52.600
<v Speaker 4>credit with ten other banks to shop right, to see

0:34:52.640 --> 0:34:56.000
<v Speaker 4>what's the best deal for that for the auto finance company,

0:34:56.080 --> 0:34:56.640
<v Speaker 4>not for you.

0:34:57.520 --> 0:34:58.320
<v Speaker 6>As the consumer.

0:34:58.440 --> 0:35:00.520
<v Speaker 5>Right now, that affects your credit score, affects your.

0:35:00.440 --> 0:35:01.560
<v Speaker 6>Credit card, brings you down.

0:35:01.600 --> 0:35:04.440
<v Speaker 4>I mean, I've had situations where people applied and purchase

0:35:04.480 --> 0:35:07.680
<v Speaker 4>Mercedes Benz a week before closing. I've had people who

0:35:07.760 --> 0:35:10.799
<v Speaker 4>got cold credit cards just because it was colds box

0:35:10.880 --> 0:35:11.600
<v Speaker 4>involved and.

0:35:13.360 --> 0:35:13.800
<v Speaker 6>Savings.

0:35:13.960 --> 0:35:15.880
<v Speaker 4>You know what I'm saying, Well, I'm like, what are

0:35:15.880 --> 0:35:17.720
<v Speaker 4>you doing? You couldn't wait to get the bed sees

0:35:18.320 --> 0:35:21.200
<v Speaker 4>the house yet, so you don't. What I try to

0:35:21.239 --> 0:35:24.759
<v Speaker 4>tell people is this, when you're in contract, you don't

0:35:24.800 --> 0:35:27.359
<v Speaker 4>own that house just because you're in contract, just because

0:35:27.400 --> 0:35:28.360
<v Speaker 4>you have a loan commitment.

0:35:28.680 --> 0:35:29.520
<v Speaker 6>Do not get happy.

0:35:29.600 --> 0:35:32.160
<v Speaker 4>Do not make any changes that can affect you in

0:35:32.239 --> 0:35:35.359
<v Speaker 4>a negative way, because you can get declined just as

0:35:35.440 --> 0:35:37.719
<v Speaker 4>quick as you got to prove right, and the underwriters

0:35:37.760 --> 0:35:40.320
<v Speaker 4>are always looking for a reason to decline you. So

0:35:40.760 --> 0:35:43.640
<v Speaker 4>you have to be squeaky clean. Don't be moving money around.

0:35:43.680 --> 0:35:44.520
<v Speaker 4>That's another big thing.

0:35:44.800 --> 0:35:46.200
<v Speaker 6>Do not move money around.

0:35:46.600 --> 0:35:48.840
<v Speaker 4>Keep your money in one account. Stop doing your so

0:35:49.080 --> 0:35:51.800
<v Speaker 4>suits and putting here and doing this and doing that.

0:35:52.040 --> 0:35:53.279
<v Speaker 6>You know what I'm saying, don't do it.

0:35:53.400 --> 0:35:56.520
<v Speaker 4>Don't put the mattress money in there, No like leave

0:35:56.560 --> 0:36:00.360
<v Speaker 4>your accounts alone, because now we start seeing money move around,

0:36:00.400 --> 0:36:02.840
<v Speaker 4>that's red flags. Now we have to document, We have

0:36:02.920 --> 0:36:04.440
<v Speaker 4>to see where this money is coming from. If you

0:36:04.520 --> 0:36:07.400
<v Speaker 4>can't document that money, then we can't use it right,

0:36:07.440 --> 0:36:08.719
<v Speaker 4>and that can blow up your deal too.

0:36:09.120 --> 0:36:13.320
<v Speaker 6>So the don'ts is it's just keep still, you know,

0:36:14.000 --> 0:36:15.600
<v Speaker 6>keep still, relaxed.

0:36:15.760 --> 0:36:17.799
<v Speaker 4>You're almost at the closing table, and when you close,

0:36:17.840 --> 0:36:19.279
<v Speaker 4>you can do whatever the hell you want to do.

0:36:19.520 --> 0:36:19.680
<v Speaker 5>Right.

0:36:20.520 --> 0:36:23.959
<v Speaker 4>Another one of the don'ts I would say for first

0:36:24.000 --> 0:36:27.080
<v Speaker 4>time investors, right, stop thinking you don't need money.

0:36:27.800 --> 0:36:29.239
<v Speaker 6>You need money right.

0:36:29.360 --> 0:36:31.920
<v Speaker 4>If you're looking to wholesale real estate, then maybe you

0:36:32.040 --> 0:36:34.799
<v Speaker 4>don't need money right because you're signing contracts. But if

0:36:34.840 --> 0:36:36.879
<v Speaker 4>you're looking to do buy and flips, or if you're

0:36:36.880 --> 0:36:39.800
<v Speaker 4>looking to do buy and holds, you're going to need capital.

0:36:40.160 --> 0:36:40.279
<v Speaker 2>Right.

0:36:40.400 --> 0:36:42.480
<v Speaker 4>There's many ways you can get capital. I mean, you

0:36:42.560 --> 0:36:44.479
<v Speaker 4>spoke about it at my workshop. You can do self

0:36:44.520 --> 0:36:47.320
<v Speaker 4>directed iraise, you can borrow from your four one K,

0:36:47.600 --> 0:36:50.960
<v Speaker 4>you you can raise capital with a group of friends.

0:36:51.680 --> 0:36:54.440
<v Speaker 4>What I'm starting to see right now is becoming more popular.

0:36:54.480 --> 0:36:57.239
<v Speaker 4>But people are co owning properties together, you know, moving

0:36:57.280 --> 0:36:59.520
<v Speaker 4>into multi families working together.

0:36:59.600 --> 0:37:02.240
<v Speaker 6>You know, lot of different cultures co own, right.

0:37:02.120 --> 0:37:05.000
<v Speaker 2>But can you talk about that collaboration because I'm talking

0:37:05.000 --> 0:37:07.759
<v Speaker 2>about collaboration in business absolutely, actually last week so now,

0:37:07.840 --> 0:37:12.359
<v Speaker 2>But collaboration and real estate, yeah, something that is very key,

0:37:12.719 --> 0:37:15.520
<v Speaker 2>very important leverage. Can you just talk about that. Yeah?

0:37:15.560 --> 0:37:16.040
<v Speaker 6>Absolutely.

0:37:16.120 --> 0:37:19.680
<v Speaker 4>Our collaboration is greater than competition. I speak about this often.

0:37:20.120 --> 0:37:23.440
<v Speaker 4>That's why we're here right now, because we're collaborating because

0:37:23.480 --> 0:37:25.440
<v Speaker 4>it doesn't make sense to compete when we all have

0:37:25.640 --> 0:37:27.640
<v Speaker 4>something that we could bring to the table. So if

0:37:27.680 --> 0:37:30.239
<v Speaker 4>your first time home buyer, let's just say your brother

0:37:30.680 --> 0:37:32.440
<v Speaker 4>is a first time home buy and you both want

0:37:32.480 --> 0:37:34.239
<v Speaker 4>to be in that same area, why go by two

0:37:34.320 --> 0:37:36.640
<v Speaker 4>single failings? Why not go buy a full family together,

0:37:37.040 --> 0:37:39.280
<v Speaker 4>live on each floor, and now you have two rental incomes,

0:37:39.400 --> 0:37:41.279
<v Speaker 4>and now you both can probably live for free or

0:37:41.360 --> 0:37:45.040
<v Speaker 4>pay minimum together. Now you can split that equity when

0:37:45.040 --> 0:37:46.919
<v Speaker 4>it's time to sell or buy each other out.

0:37:47.239 --> 0:37:49.799
<v Speaker 6>With real estate investing, you don't need to be one

0:37:49.880 --> 0:37:50.719
<v Speaker 6>hundred percent owner.

0:37:50.800 --> 0:37:53.560
<v Speaker 4>I think that's the biggest misconception that people think, like,

0:37:53.640 --> 0:37:56.600
<v Speaker 4>if you're going to we all can we can collaborate

0:37:56.760 --> 0:38:01.320
<v Speaker 4>and create a business structure a joint venture business structure.

0:38:01.200 --> 0:38:02.160
<v Speaker 6>And put our money up.

0:38:02.200 --> 0:38:04.960
<v Speaker 4>And it doesn't have to be equal, right, as long

0:38:04.960 --> 0:38:06.799
<v Speaker 4>as it egals to one hundred percent at the end

0:38:06.800 --> 0:38:08.480
<v Speaker 4>of the day, that's all that matters. You can be

0:38:08.600 --> 0:38:11.240
<v Speaker 4>eighty percent own and we can both have ten percent ownership,

0:38:11.320 --> 0:38:13.640
<v Speaker 4>right because we're bringing something to the table, but that

0:38:13.680 --> 0:38:17.320
<v Speaker 4>would be our portion of the net rental income or

0:38:17.520 --> 0:38:21.799
<v Speaker 4>of the proceeds after sale, eighty percent of you because

0:38:21.800 --> 0:38:24.960
<v Speaker 4>you're bringing the capitol, right, But we may be the operators,

0:38:25.280 --> 0:38:27.080
<v Speaker 4>and you don't know how to operate, right. So it's

0:38:27.200 --> 0:38:29.320
<v Speaker 4>all a matter of what do you bring to the

0:38:29.400 --> 0:38:33.799
<v Speaker 4>table to collaborate to make yourself valuable for where someone

0:38:33.880 --> 0:38:36.080
<v Speaker 4>wants to put you included into that business.

0:38:36.200 --> 0:38:38.800
<v Speaker 5>And you said something important, you said coachally, you're not

0:38:38.880 --> 0:38:39.600
<v Speaker 5>seeing that happen.

0:38:39.719 --> 0:38:41.919
<v Speaker 6>No, it doesn't happen as the cultures we have ego.

0:38:42.120 --> 0:38:45.000
<v Speaker 5>Yeah, from a client based standpoint, what are you seeing

0:38:45.080 --> 0:38:45.400
<v Speaker 5>out there?

0:38:45.520 --> 0:38:45.560
<v Speaker 3>Like?

0:38:46.239 --> 0:38:47.759
<v Speaker 5>Why what's holding us back?

0:38:47.920 --> 0:38:50.320
<v Speaker 4>We hold ourselves back, you know what I'm saying, Like

0:38:50.480 --> 0:38:53.120
<v Speaker 4>we want to be the top shotter, we want to

0:38:53.160 --> 0:38:56.280
<v Speaker 4>be the midln This is mind right. We have that ego,

0:38:56.440 --> 0:39:00.360
<v Speaker 4>that mentality, that that fucking sense of entitlement that we

0:39:00.560 --> 0:39:02.920
<v Speaker 4>deserve everything under the blue.

0:39:02.760 --> 0:39:03.600
<v Speaker 6>Sun, which we do.

0:39:03.960 --> 0:39:06.799
<v Speaker 4>But if you ain't working hard towards it, then why

0:39:06.880 --> 0:39:09.200
<v Speaker 4>you have this sense of entitlement? For number one, But

0:39:09.680 --> 0:39:12.799
<v Speaker 4>I don't know why we don't collaborate more. It's sad

0:39:13.239 --> 0:39:15.800
<v Speaker 4>that I see a lot of people in our community

0:39:16.200 --> 0:39:18.920
<v Speaker 4>are not collaborating. But also on the flip side, when

0:39:18.920 --> 0:39:21.640
<v Speaker 4>I'm starting to notice the trend, especially if you look

0:39:21.680 --> 0:39:24.320
<v Speaker 4>at you know, what they call black Twitter, black social media,

0:39:24.680 --> 0:39:26.759
<v Speaker 4>You're starting to see the uplifting. You're starting to see

0:39:26.760 --> 0:39:29.320
<v Speaker 4>people coming together and starting to do more together. So

0:39:29.440 --> 0:39:32.680
<v Speaker 4>I think that cycle is going to start getting broke down.

0:39:33.880 --> 0:39:36.920
<v Speaker 4>From our ownership perspective, I'm starting to see family members

0:39:36.960 --> 0:39:40.080
<v Speaker 4>now in our community buying homes together, you know, living

0:39:40.120 --> 0:39:42.560
<v Speaker 4>in the homes together. You know, you don't need, you know,

0:39:42.719 --> 0:39:45.279
<v Speaker 4>to have a five thousand square foot home and it's

0:39:45.360 --> 0:39:48.080
<v Speaker 4>just you and your girlfriend right now. If you and

0:39:48.160 --> 0:39:51.319
<v Speaker 4>your girlfriend, the parents can all move in even if

0:39:51.320 --> 0:39:52.960
<v Speaker 4>you want to get the single feeling right, you know what,

0:39:53.080 --> 0:39:55.680
<v Speaker 4>we split in that mortgage four ways. Now it's more affordable,

0:39:55.719 --> 0:39:58.000
<v Speaker 4>and now we're able to save more and invest together.

0:39:58.480 --> 0:40:00.399
<v Speaker 3>So I think that, I mean, that's a person story

0:40:00.440 --> 0:40:03.279
<v Speaker 3>for me, like that literally is my mouth model right now.

0:40:03.400 --> 0:40:06.239
<v Speaker 3>Like I own a home with my dad, and it's

0:40:06.280 --> 0:40:08.719
<v Speaker 3>easier for us because obviously it lessens a burden on me,

0:40:08.840 --> 0:40:10.960
<v Speaker 3>but it also puts me in a position that whereas

0:40:11.520 --> 0:40:13.440
<v Speaker 3>you know, they're older in age, it's easy for me

0:40:13.520 --> 0:40:16.480
<v Speaker 3>to take care of Rather than having them grow in

0:40:16.560 --> 0:40:18.600
<v Speaker 3>age and having them put them in or having them.

0:40:18.520 --> 0:40:20.799
<v Speaker 5>Go into a home, they're here, I can take care

0:40:20.840 --> 0:40:22.360
<v Speaker 5>of them and it works.

0:40:22.960 --> 0:40:25.000
<v Speaker 6>No, I think it's I think it's a it's a

0:40:25.080 --> 0:40:31.000
<v Speaker 6>perfect situation for you to co own. I know, someone

0:40:31.080 --> 0:40:31.560
<v Speaker 6>like myself.

0:40:31.600 --> 0:40:34.960
<v Speaker 4>When I've purchased my first home thirteen fourteen years ago,

0:40:35.880 --> 0:40:36.960
<v Speaker 4>I didn't want to live with nobody.

0:40:36.960 --> 0:40:37.520
<v Speaker 6>You kidding me?

0:40:38.040 --> 0:40:40.000
<v Speaker 4>Forgot to have nobody's going to live with me? Right,

0:40:40.480 --> 0:40:43.640
<v Speaker 4>But now as I've grown older and I'm matured, it's

0:40:43.719 --> 0:40:45.560
<v Speaker 4>more so like, you know what, that's the best way

0:40:45.640 --> 0:40:49.120
<v Speaker 4>to do it, because people just can't afford to live

0:40:49.239 --> 0:40:49.719
<v Speaker 4>on their own.

0:40:49.800 --> 0:40:50.080
<v Speaker 5>No more.

0:40:50.239 --> 0:40:52.880
<v Speaker 4>People are struggling. People are living paycheck to paycheck. In

0:40:52.960 --> 0:40:55.240
<v Speaker 4>New York, if you're making one hundred k, you're broke.

0:40:56.080 --> 0:40:58.160
<v Speaker 4>I'm starting to see a lot more in our community

0:40:58.200 --> 0:41:00.399
<v Speaker 4>where people are co on it because people just don't

0:41:00.480 --> 0:41:04.040
<v Speaker 4>they don't have that the resources. You know, we qualify

0:41:04.120 --> 0:41:07.360
<v Speaker 4>people off your gross income, right, but you live your

0:41:07.400 --> 0:41:10.000
<v Speaker 4>life off your net income, and if you make one

0:41:10.080 --> 0:41:13.280
<v Speaker 4>hundred k gross, that's really like fifty five sixty thousand net.

0:41:13.360 --> 0:41:16.160
<v Speaker 6>Depend on what state, right, depending on taxes or what

0:41:16.280 --> 0:41:17.080
<v Speaker 6>state you're in. Right.

0:41:17.160 --> 0:41:19.440
<v Speaker 4>But if you're talking about thirty five forty percent, if

0:41:19.480 --> 0:41:22.560
<v Speaker 4>you're making that type of money, I mean, that's what

0:41:22.640 --> 0:41:24.040
<v Speaker 4>we're qualify with, confie off.

0:41:24.160 --> 0:41:24.879
<v Speaker 6>That bigger number.

0:41:24.960 --> 0:41:27.880
<v Speaker 4>So for me, it's like if you can barely qualify,

0:41:28.000 --> 0:41:31.720
<v Speaker 4>you're add a max debt to income ratio of gross income.

0:41:31.840 --> 0:41:34.480
<v Speaker 4>You really can't afford it because you're not taking consideration

0:41:35.120 --> 0:41:39.239
<v Speaker 4>your your auto insurance, your childcare, you know, things of

0:41:39.320 --> 0:41:41.560
<v Speaker 4>that nature that don't report on your credit reports. So

0:41:41.719 --> 0:41:44.120
<v Speaker 4>you have to be smart, is what the message that

0:41:44.239 --> 0:41:47.000
<v Speaker 4>I'm preaching the people now is like, you know, be

0:41:47.200 --> 0:41:50.080
<v Speaker 4>smart about this decision. And that's why I preach multifamily

0:41:50.480 --> 0:41:53.920
<v Speaker 4>and investing as a primary residence versus just buyd a

0:41:53.920 --> 0:41:56.560
<v Speaker 4>single family home because you you really can't afford it,

0:41:57.000 --> 0:41:59.879
<v Speaker 4>you know, and you're a recipe for foreclosure, God forbid,

0:42:00.080 --> 0:42:02.040
<v Speaker 4>Get sick, Go off of it, you get laid off,

0:42:02.320 --> 0:42:03.520
<v Speaker 4>like how are we going to pay your longage?

0:42:03.520 --> 0:42:06.000
<v Speaker 2>And then one of the things before we before we finish,

0:42:06.080 --> 0:42:09.279
<v Speaker 2>is that you had mentioned before off camera that it's

0:42:09.280 --> 0:42:12.040
<v Speaker 2>important to have a strategy. Absolutely, like you go from

0:42:12.080 --> 0:42:13.920
<v Speaker 2>like two to three to four. Can you just kind

0:42:13.920 --> 0:42:14.520
<v Speaker 2>of explain that?

0:42:14.800 --> 0:42:18.480
<v Speaker 4>Yeah, I mean, listen, everything is strategy, no matter your

0:42:18.520 --> 0:42:22.000
<v Speaker 4>first time, first time home buyer, you buy your second home,

0:42:22.080 --> 0:42:23.800
<v Speaker 4>move up home, you got to have a strategy.

0:42:23.960 --> 0:42:26.560
<v Speaker 6>Right. For tax purposes, you need a tax strategy.

0:42:26.600 --> 0:42:29.920
<v Speaker 4>That's why I speak a lot about tax strategy, insurance strategies.

0:42:30.200 --> 0:42:32.000
<v Speaker 6>We've had that conversation several times.

0:42:32.640 --> 0:42:34.120
<v Speaker 2>So what I try to tell.

0:42:34.000 --> 0:42:38.640
<v Speaker 4>People, go go down right four three to one, because

0:42:38.800 --> 0:42:41.160
<v Speaker 4>if you do it properly, you will be able to

0:42:41.320 --> 0:42:44.960
<v Speaker 4>use minimum downpay for four units four units, three unit,

0:42:45.160 --> 0:42:45.800
<v Speaker 4>two units.

0:42:46.000 --> 0:42:49.560
<v Speaker 2>So the first home should be a four unit home, correct.

0:42:49.760 --> 0:42:52.319
<v Speaker 2>Then you move out of that, you get the three

0:42:52.440 --> 0:42:55.160
<v Speaker 2>unit home, keep the you keep them, but you keep

0:42:55.400 --> 0:42:57.319
<v Speaker 2>keeping it the whole time. Keeping. Then you go from

0:42:57.400 --> 0:43:00.279
<v Speaker 2>three to two. Yeah, and then now you can buy

0:43:00.320 --> 0:43:04.640
<v Speaker 2>your dream home. Now you can buy your dream homes. Yeah,

0:43:04.680 --> 0:43:05.440
<v Speaker 2>that's paying for it.

0:43:05.640 --> 0:43:08.560
<v Speaker 4>You got to drink about it, right, you just accumulated

0:43:08.680 --> 0:43:12.399
<v Speaker 4>probably what's that seven, nine, nine doors in a matter

0:43:12.480 --> 0:43:14.640
<v Speaker 4>of a couple of years. So if you're making five

0:43:14.760 --> 0:43:19.239
<v Speaker 4>hundred dollars profit a door, you know, now your single

0:43:19.320 --> 0:43:21.440
<v Speaker 4>family dream home is paid for.

0:43:22.040 --> 0:43:23.040
<v Speaker 5>It's really your dream home.

0:43:23.120 --> 0:43:26.080
<v Speaker 4>It's not like it's not what I can afford right now.

0:43:26.200 --> 0:43:28.560
<v Speaker 4>It's like we sacrifice for the first five years of

0:43:28.760 --> 0:43:32.640
<v Speaker 4>our real estate journey, right and we went multi families

0:43:32.680 --> 0:43:35.319
<v Speaker 4>and moved our way down, and we did it strategically.

0:43:35.400 --> 0:43:38.680
<v Speaker 4>We're not sitting here buying in the best neighborhood when

0:43:38.680 --> 0:43:39.640
<v Speaker 4>we're buying our multis.

0:43:39.680 --> 0:43:41.000
<v Speaker 2>We're buying areas that.

0:43:41.080 --> 0:43:43.759
<v Speaker 4>We can feel comfortable and safe and living for a year,

0:43:44.160 --> 0:43:46.160
<v Speaker 4>and then we're moving out and moving into a little

0:43:46.160 --> 0:43:48.680
<v Speaker 4>bit step up or neighborhood, but going down the units.

0:43:48.880 --> 0:43:51.479
<v Speaker 4>Because from an underwriting perspective, it has to make sense

0:43:51.880 --> 0:43:56.080
<v Speaker 4>for you moving from one multi family to another multi family.

0:43:56.160 --> 0:43:58.719
<v Speaker 4>You can't buy a four family or three family on

0:43:58.760 --> 0:44:02.040
<v Speaker 4>the same block and say moving from one house to another, right,

0:44:02.239 --> 0:44:02.880
<v Speaker 4>that doesn't make it.

0:44:02.920 --> 0:44:04.720
<v Speaker 2>So that's a play like to move to a decent

0:44:04.800 --> 0:44:07.120
<v Speaker 2>neighborhood and just keep moving up in neighborhoods, just keep moving.

0:44:07.160 --> 0:44:09.080
<v Speaker 2>That's another thing too, parent that like, I want to

0:44:09.120 --> 0:44:11.320
<v Speaker 2>move in the best possible neighborhood right away where my

0:44:11.440 --> 0:44:13.840
<v Speaker 2>kid is like one years old because I went to

0:44:13.920 --> 0:44:16.080
<v Speaker 2>school district. But one year is not going to make

0:44:16.080 --> 0:44:17.560
<v Speaker 2>that big difference, right, not at all.

0:44:18.160 --> 0:44:19.319
<v Speaker 5>It's not gonna start to five.

0:44:19.680 --> 0:44:21.640
<v Speaker 4>Listen, the kid is not going to start the five.

0:44:21.719 --> 0:44:23.799
<v Speaker 4>I have a four year old, right, and she's she'll

0:44:23.840 --> 0:44:26.600
<v Speaker 4>be five this year. She's going to kindergarten, right. I

0:44:26.719 --> 0:44:31.080
<v Speaker 4>act her every day with Sha Larne in school, and

0:44:31.160 --> 0:44:34.680
<v Speaker 4>the answer changes every single day, right, like, and then

0:44:34.800 --> 0:44:38.359
<v Speaker 4>sometimes and I have nothing to do with school, like okay, maybe, right,

0:44:38.640 --> 0:44:39.880
<v Speaker 4>So you got to really think about it.

0:44:39.920 --> 0:44:42.320
<v Speaker 2>Why are you going to go to that best school district?

0:44:42.400 --> 0:44:45.200
<v Speaker 4>And then the best school district in our areas come

0:44:45.280 --> 0:44:49.200
<v Speaker 4>with fifteen to twenty thousand and property taxes, right and

0:44:49.320 --> 0:44:51.640
<v Speaker 4>now with the new tax laws, you can only ride

0:44:51.680 --> 0:44:52.600
<v Speaker 4>off ten thousand.

0:44:53.200 --> 0:44:54.960
<v Speaker 6>You can't ride off the whole amount.

0:44:55.120 --> 0:44:57.759
<v Speaker 4>The more so everything has to be strategy and you

0:44:57.880 --> 0:44:59.560
<v Speaker 4>have to know your tax laws and you have to

0:44:59.640 --> 0:45:02.120
<v Speaker 4>keep up with it, right, So why go to that

0:45:02.239 --> 0:45:04.520
<v Speaker 4>best neighborhood if you really don't need the school district?

0:45:04.560 --> 0:45:07.120
<v Speaker 4>Right now, why don't you go to the okay neighborhood

0:45:07.160 --> 0:45:10.040
<v Speaker 4>that you're safe in. Get the multifamily because while your

0:45:10.120 --> 0:45:12.719
<v Speaker 4>child is growing, you could be growing too, but in

0:45:12.800 --> 0:45:16.440
<v Speaker 4>your real estate portfolio. And now when it's time, maybe

0:45:16.480 --> 0:45:18.440
<v Speaker 4>I don't even think kindergarten you need to be in

0:45:18.480 --> 0:45:19.360
<v Speaker 4>the best school district.

0:45:19.400 --> 0:45:20.200
<v Speaker 6>That's just my opinion.

0:45:20.280 --> 0:45:22.520
<v Speaker 4>Maybe not even until they get to you know, sixth

0:45:22.640 --> 0:45:26.400
<v Speaker 4>or seventh grade is when their brains really start retaining stuff.

0:45:26.480 --> 0:45:28.920
<v Speaker 4>In my opinion is now you probably want to go

0:45:29.040 --> 0:45:31.520
<v Speaker 4>to that best school district, and then by that time,

0:45:31.600 --> 0:45:35.160
<v Speaker 4>you probably accumulated you know, three four assets.

0:45:35.040 --> 0:45:36.520
<v Speaker 6>That now can help pay for them.

0:45:36.600 --> 0:45:38.680
<v Speaker 2>It's the same like with people in private school. A

0:45:38.719 --> 0:45:40.320
<v Speaker 2>lot of time people will send their private kids to

0:45:40.360 --> 0:45:43.200
<v Speaker 2>private school in like middle school because they only pay

0:45:43.280 --> 0:45:46.120
<v Speaker 2>the price of private school in second grade. Yeah, so

0:45:46.239 --> 0:45:48.279
<v Speaker 2>they save, and then by the time they get to

0:45:48.360 --> 0:45:51.200
<v Speaker 2>like sixth grade, seventh grade, now they put their kids

0:45:51.239 --> 0:45:52.040
<v Speaker 2>in private sche.

0:45:52.120 --> 0:45:54.640
<v Speaker 6>And I have folks that love private school right versus

0:45:54.760 --> 0:45:55.359
<v Speaker 6>public grade.

0:45:55.400 --> 0:45:57.960
<v Speaker 4>But then why you're going to buy the house that

0:45:58.200 --> 0:46:02.160
<v Speaker 4>comes with fifteen thousand taxes if you're not going to

0:46:02.200 --> 0:46:04.319
<v Speaker 4>send the prother because the majority of your taxes are

0:46:04.360 --> 0:46:06.759
<v Speaker 4>school taxes. You know, what I'm saying, so like, why

0:46:06.760 --> 0:46:08.560
<v Speaker 4>are you going to pay out of the fifteen grand,

0:46:08.560 --> 0:46:10.719
<v Speaker 4>probably ten grand is going to the school, but you're

0:46:10.719 --> 0:46:13.520
<v Speaker 4>still paying probably ten fifteen k a year in tuition

0:46:14.040 --> 0:46:16.000
<v Speaker 4>at the same time, So and you can't write it

0:46:16.080 --> 0:46:16.960
<v Speaker 4>all off no more.

0:46:17.280 --> 0:46:18.239
<v Speaker 6>So why do it?

0:46:18.400 --> 0:46:18.520
<v Speaker 5>Right?

0:46:18.600 --> 0:46:20.279
<v Speaker 4>It doesn't make any sense. Even if you go with

0:46:20.360 --> 0:46:22.440
<v Speaker 4>the Star program. The Stock program is only going to

0:46:22.480 --> 0:46:25.279
<v Speaker 4>save you a couple of dollars for those who don't

0:46:25.280 --> 0:46:28.920
<v Speaker 4>know what start. The Star program saves you on school taxes, right.

0:46:29.680 --> 0:46:33.880
<v Speaker 4>It used to come off the gross on your taxes.

0:46:33.920 --> 0:46:35.840
<v Speaker 4>Now they send you a check at the end of

0:46:35.920 --> 0:46:38.000
<v Speaker 4>the year. So it doesn't really help you. During the

0:46:38.080 --> 0:46:42.279
<v Speaker 4>course of the year, you get reimbursed or refunded. That's

0:46:42.400 --> 0:46:45.600
<v Speaker 4>that's savings. But that's the savings is only like two grands.

0:46:45.640 --> 0:46:48.160
<v Speaker 4>So I mean two grand versus fifteen grand. It's like

0:46:48.280 --> 0:46:50.960
<v Speaker 4>pennies on a dollar. When it's a penny save is

0:46:50.960 --> 0:46:53.400
<v Speaker 4>a penny earned tool at the same time, but it

0:46:53.480 --> 0:46:55.680
<v Speaker 4>doesn't really help you in the grand scheme of things.

0:46:55.760 --> 0:46:57.960
<v Speaker 4>So what I try to tell people is just be

0:46:58.080 --> 0:47:01.120
<v Speaker 4>smart because you got to pay that mortgage every month,

0:47:01.160 --> 0:47:03.560
<v Speaker 4>and the mortgage man don't care. They want their money,

0:47:03.719 --> 0:47:05.799
<v Speaker 4>and if they don't get your money, they're gonna wind

0:47:05.880 --> 0:47:07.359
<v Speaker 4>up foreclosing on you at some point.

0:47:07.480 --> 0:47:09.160
<v Speaker 6>So just be smart, move a strategy.

0:47:09.680 --> 0:47:12.799
<v Speaker 4>Start with rental properties first, because the rental properties can

0:47:12.840 --> 0:47:15.560
<v Speaker 4>pay for your asset. Like dj Envy ncs of both

0:47:15.600 --> 0:47:17.600
<v Speaker 4>say at their seminos, right, which I love that they

0:47:17.640 --> 0:47:17.920
<v Speaker 4>say it.

0:47:18.440 --> 0:47:20.520
<v Speaker 6>You know Mv's flashy like he love his cars.

0:47:20.600 --> 0:47:20.719
<v Speaker 5>Right.

0:47:20.800 --> 0:47:22.800
<v Speaker 4>We all know that if you follow him, he's always

0:47:22.840 --> 0:47:25.680
<v Speaker 4>buying some Rose Royce or something. But he said flat out,

0:47:25.880 --> 0:47:27.920
<v Speaker 4>I don't buy this unless I have an asset that

0:47:27.960 --> 0:47:28.520
<v Speaker 4>can pay for it.

0:47:29.600 --> 0:47:33.120
<v Speaker 6>So I'm not paying for it. I'm paying for the asset.

0:47:34.280 --> 0:47:39.440
<v Speaker 4>Assets of reliabilities right, shameless assets over liabilities people, right,

0:47:39.800 --> 0:47:42.600
<v Speaker 4>But he's buying the asset to pay for the Rose Royce.

0:47:42.920 --> 0:47:45.799
<v Speaker 4>You know, we have that same opportunity. You know these

0:47:45.840 --> 0:47:48.279
<v Speaker 4>guys are part of the one percent club. Great, we

0:47:48.560 --> 0:47:51.000
<v Speaker 4>all have that ability to do the same thing even

0:47:51.040 --> 0:47:52.480
<v Speaker 4>if we're not part of the one percent.

0:47:52.800 --> 0:47:56.319
<v Speaker 6>We can develop the one percent mentality. That's all we need.

0:47:56.480 --> 0:47:58.200
<v Speaker 6>So that's when you ask me, what do we first start?

0:47:58.440 --> 0:48:01.520
<v Speaker 6>Right here? The mentalit is the first place that we

0:48:01.680 --> 0:48:05.080
<v Speaker 6>need to start develop that one percent mentality, develop a

0:48:05.160 --> 0:48:07.959
<v Speaker 6>strong team, develop your one percent dream team.

0:48:08.280 --> 0:48:09.360
<v Speaker 2>You know you need guys like me.

0:48:09.480 --> 0:48:12.080
<v Speaker 4>You need guys like Shall, You need financial planning, you

0:48:12.200 --> 0:48:15.160
<v Speaker 4>need to understand tax planning. You need all of these

0:48:15.480 --> 0:48:18.759
<v Speaker 4>these these key team players to guide you to know

0:48:18.920 --> 0:48:21.880
<v Speaker 4>your overall strategy. Because if you just go to in

0:48:22.000 --> 0:48:23.920
<v Speaker 4>my business, what I like to call them order takers.

0:48:24.520 --> 0:48:26.239
<v Speaker 4>You know, it's like going to McDonald's. You want fries

0:48:26.320 --> 0:48:28.480
<v Speaker 4>with that right, if you go to a regular loan office,

0:48:28.480 --> 0:48:29.880
<v Speaker 4>so they're not asking you questions.

0:48:29.920 --> 0:48:30.799
<v Speaker 6>They're just thinking to.

0:48:30.840 --> 0:48:33.440
<v Speaker 4>Get you preapproved today, to buy that house today, but

0:48:33.520 --> 0:48:36.319
<v Speaker 4>they're not trying to gather the long term, your long

0:48:36.440 --> 0:48:39.240
<v Speaker 4>term goals. So when someone comes to me, I'm asking

0:48:39.280 --> 0:48:41.560
<v Speaker 4>these questions because I want to know what who are

0:48:41.640 --> 0:48:42.239
<v Speaker 4>you number one?

0:48:42.280 --> 0:48:43.600
<v Speaker 6>And what do you want to deal with your life?

0:48:43.640 --> 0:48:45.560
<v Speaker 4>Because if you tell me, hey, I want to buy

0:48:45.640 --> 0:48:47.680
<v Speaker 4>this house, but then at the same time you say

0:48:47.719 --> 0:48:49.600
<v Speaker 4>I want in basketball, you're contradicting yourself.

0:48:50.040 --> 0:48:51.800
<v Speaker 6>You got to kind of pick your poison and figure

0:48:51.840 --> 0:48:54.560
<v Speaker 6>out what's the best route. And I can only tell

0:48:54.600 --> 0:48:57.759
<v Speaker 6>you my opinion, my advice. This is what you qualify for.

0:48:58.120 --> 0:48:59.719
<v Speaker 6>I'm gonna lead you to the water. But it's up

0:48:59.719 --> 0:49:00.520
<v Speaker 6>to you to drink.

0:49:00.520 --> 0:49:03.399
<v Speaker 2>At the end of the day, we want to thank

0:49:03.440 --> 0:49:05.800
<v Speaker 2>you for coming in. Man, that was I hope you

0:49:05.880 --> 0:49:09.279
<v Speaker 2>guys really once again took notes. Yeah, I hope you

0:49:09.320 --> 0:49:11.760
<v Speaker 2>guys really took notes. Because this is just like business.

0:49:11.800 --> 0:49:14.040
<v Speaker 2>You know, real estate is something this is actually probably

0:49:14.120 --> 0:49:16.840
<v Speaker 2>even more relevant than business because everybody doesn't inspire to

0:49:16.880 --> 0:49:20.960
<v Speaker 2>be a business owner. But most people have a dream

0:49:21.000 --> 0:49:23.560
<v Speaker 2>of owning a home right or you know, at least

0:49:24.080 --> 0:49:26.160
<v Speaker 2>rent yea, I live somewhere regardless, So even if you're

0:49:26.160 --> 0:49:28.240
<v Speaker 2>a renterer, you should still be educated on it because

0:49:28.760 --> 0:49:31.840
<v Speaker 2>you know, real estate is something that everybody partakes in

0:49:31.920 --> 0:49:32.360
<v Speaker 2>one way.

0:49:32.600 --> 0:49:33.640
<v Speaker 6>Even I'm going to cut your wall.

0:49:33.680 --> 0:49:35.320
<v Speaker 4>But even if you're a rental you still should be

0:49:35.360 --> 0:49:40.080
<v Speaker 4>buying right Like why and especially with the millennials, like

0:49:40.160 --> 0:49:41.200
<v Speaker 4>I hear a lot of this online.

0:49:41.280 --> 0:49:42.680
<v Speaker 6>Millennials don't want to buy homes.

0:49:42.719 --> 0:49:44.520
<v Speaker 4>They just want to rent because they don't feel like

0:49:44.520 --> 0:49:47.200
<v Speaker 4>they want to get tagged and tied down to a property.

0:49:47.320 --> 0:49:50.760
<v Speaker 4>But why not still invest, you know, still buy property,

0:49:50.840 --> 0:49:52.839
<v Speaker 4>still buy real estate, and you can because it's nothing

0:49:52.880 --> 0:49:55.280
<v Speaker 4>wrong with renting. You know, there's a lot of people

0:49:55.320 --> 0:49:58.040
<v Speaker 4>on my industry that try to say, compare rent versus owner,

0:49:58.080 --> 0:50:00.360
<v Speaker 4>which I get the logic, but there's nothing wrong with

0:50:00.480 --> 0:50:03.560
<v Speaker 4>being a renter, right, it's a purpose. You know, some

0:50:03.680 --> 0:50:06.880
<v Speaker 4>people you have to be mature to handle home ownership.

0:50:07.560 --> 0:50:10.120
<v Speaker 4>You know, it's a lot, it's a lot of responsibility.

0:50:10.200 --> 0:50:12.959
<v Speaker 4>It's not it's not just like I bought a house

0:50:13.040 --> 0:50:15.480
<v Speaker 4>and now I'm a homeowner and great like, but the

0:50:15.560 --> 0:50:17.040
<v Speaker 4>goddamn ball or break then what?

0:50:17.600 --> 0:50:17.759
<v Speaker 1>Right?

0:50:17.960 --> 0:50:19.919
<v Speaker 4>You know, it's a lot of responses that it takes

0:50:19.960 --> 0:50:23.120
<v Speaker 4>a search level of maturity to handle home ownership. So

0:50:23.200 --> 0:50:26.560
<v Speaker 4>if you're not mature enough and you need to rent,

0:50:27.120 --> 0:50:29.800
<v Speaker 4>why not start investing into real estate and start small,

0:50:29.920 --> 0:50:32.080
<v Speaker 4>staying your lane. You don't have to keep up with,

0:50:32.680 --> 0:50:35.960
<v Speaker 4>you know, the superstar investors that are out there buying

0:50:36.560 --> 0:50:37.560
<v Speaker 4>ten properties a week.

0:50:37.920 --> 0:50:39.839
<v Speaker 6>You know, stay your lane, whether you buy one home

0:50:39.920 --> 0:50:42.640
<v Speaker 6>a year or one a month, whatever your lane is.

0:50:42.760 --> 0:50:45.879
<v Speaker 2>Staying this the fact. But yeah, so once again, thank

0:50:45.920 --> 0:50:48.520
<v Speaker 2>you for coming. And also it's important too, as you said,

0:50:48.520 --> 0:50:49.839
<v Speaker 2>I like what you said as far as putting together

0:50:49.920 --> 0:50:52.080
<v Speaker 2>a team and just having resources a lot of time,

0:50:52.120 --> 0:50:54.680
<v Speaker 2>we feel like we want to do everything ourselves. And

0:50:54.800 --> 0:50:57.600
<v Speaker 2>like me, I'm a big proponent, Like I stay in

0:50:57.640 --> 0:50:59.759
<v Speaker 2>my lane, right, So I'm I'm a financial visor. I

0:50:59.800 --> 0:51:01.640
<v Speaker 2>talk about finance, but I don't talk about everything to

0:51:01.760 --> 0:51:03.960
<v Speaker 2>do with finance. So that's why we brought you in

0:51:04.080 --> 0:51:06.200
<v Speaker 2>to talk about real estate. That's how we bring you know,

0:51:06.400 --> 0:51:08.359
<v Speaker 2>taxifisers in to talk about tax That's why we bring

0:51:08.360 --> 0:51:11.960
<v Speaker 2>a lawyer into talk about legal issues because I'm not

0:51:12.360 --> 0:51:14.120
<v Speaker 2>I don't do that lik it like you know, so

0:51:14.239 --> 0:51:16.200
<v Speaker 2>I'd rather have somebody that does it every single day

0:51:16.480 --> 0:51:18.560
<v Speaker 2>to talk about it as opposed to me just trying

0:51:18.600 --> 0:51:20.720
<v Speaker 2>to cover everything or Troy just trying to cover everything.

0:51:20.840 --> 0:51:27.279
<v Speaker 2>So networking. Networking is important in having knowledgeable people. So

0:51:27.600 --> 0:51:29.680
<v Speaker 2>can you tell the people how to how to contact you?

0:51:29.920 --> 0:51:34.960
<v Speaker 4>Listen on YouTube MG the Mortgage Guy on Instagram Matt

0:51:35.040 --> 0:51:39.000
<v Speaker 4>g Underscore home Loans. Catch me there on Facebook or

0:51:39.040 --> 0:51:41.960
<v Speaker 4>LinkedIn just my name Matthew Garland, Matthew with two teas.

0:51:42.800 --> 0:51:44.960
<v Speaker 4>But if you have any questions are concerned, you can

0:51:45.040 --> 0:51:47.239
<v Speaker 4>shoot me a DM on Instagram.

0:51:47.760 --> 0:51:50.759
<v Speaker 6>I respond. I try to respond to all the d ms.

0:51:51.680 --> 0:51:54.120
<v Speaker 4>All you can catch me on one of these dates

0:51:54.160 --> 0:51:57.080
<v Speaker 4>with dj NB and Caason on the real estate seminars.

0:51:58.239 --> 0:52:01.760
<v Speaker 6>But I'm around man, just some high mean and let's work.

0:52:02.480 --> 0:52:03.920
<v Speaker 2>I appreciate Troy anything.

0:52:04.719 --> 0:52:08.320
<v Speaker 3>Well, I'm gonna end where we started just a quote

0:52:08.320 --> 0:52:10.440
<v Speaker 3>from Nip the Great. He said, you can have it

0:52:10.480 --> 0:52:13.560
<v Speaker 3>also about your reason. And through his music and through

0:52:13.600 --> 0:52:15.880
<v Speaker 3>his life and through his work in his community, he

0:52:16.040 --> 0:52:18.400
<v Speaker 3>was living out his reason. It's really his purpose. And

0:52:18.440 --> 0:52:20.360
<v Speaker 3>a lot of people try to figure out how do

0:52:20.480 --> 0:52:24.200
<v Speaker 3>I find my purpose? And the best way is to

0:52:24.320 --> 0:52:27.520
<v Speaker 3>live through experiences and you know, find something that you're

0:52:27.640 --> 0:52:29.960
<v Speaker 3>you're you're really passionate about, or that you do well,

0:52:30.320 --> 0:52:32.120
<v Speaker 3>that you never had to go to school for. You

0:52:32.239 --> 0:52:35.400
<v Speaker 3>just naturally do it and find a message in there, man,

0:52:35.520 --> 0:52:38.719
<v Speaker 3>So you have it all. It's just about the reason, man,

0:52:38.840 --> 0:52:40.560
<v Speaker 3>So make sure that y'all know what the reason you're

0:52:40.600 --> 0:52:43.600
<v Speaker 3>doing it for. And his one of his biggest things

0:52:43.640 --> 0:52:46.640
<v Speaker 3>that he was doing was just spreading love for everybody

0:52:46.640 --> 0:52:49.960
<v Speaker 3>else's benefit. And like I said, it's unfortunately that he

0:52:50.080 --> 0:52:53.680
<v Speaker 3>lost his life, but he was living his purpose. And

0:52:53.920 --> 0:52:55.919
<v Speaker 3>the more people we can get to find and chase

0:52:56.000 --> 0:52:57.960
<v Speaker 3>their purpose and live in their purpose, you know, the

0:52:58.040 --> 0:52:59.840
<v Speaker 3>better our communities would be, the better world would be.

0:53:00.200 --> 0:53:02.760
<v Speaker 5>So we lost not only a pillar to our community,

0:53:02.800 --> 0:53:03.839
<v Speaker 5>but a pillar to the world.

0:53:04.880 --> 0:53:08.759
<v Speaker 2>Yeah, rest in peace before we leave. Also, my book

0:53:08.840 --> 0:53:12.279
<v Speaker 2>tip for this week is a book called The wake

0:53:12.400 --> 0:53:15.759
<v Speaker 2>Up Call by my guy Ash Cash, and that is

0:53:16.360 --> 0:53:19.600
<v Speaker 2>he he does an interesting thing where he he yeah,

0:53:19.760 --> 0:53:22.560
<v Speaker 2>he breaks down like financial topics. It's kind of similar

0:53:22.560 --> 0:53:25.239
<v Speaker 2>to what we do and pop culture. So that book

0:53:25.320 --> 0:53:28.279
<v Speaker 2>is based around jay Z's album four four four and

0:53:28.600 --> 0:53:30.839
<v Speaker 2>he like kind of goes into details like what jay

0:53:30.880 --> 0:53:33.680
<v Speaker 2>Z's rapping about and then explains like, Okay, this is

0:53:34.160 --> 0:53:38.680
<v Speaker 2>the real estate played behind the lyric and stuff like that. Today,

0:53:40.560 --> 0:53:42.719
<v Speaker 2>shout to Ashcash. We gottaet him on the show as well,

0:53:42.800 --> 0:53:45.560
<v Speaker 2>So shout out to ash Cash. And uh yes, guys,

0:53:45.640 --> 0:53:49.200
<v Speaker 2>don't forget the merch Troy. It has the signature Assets

0:53:49.280 --> 0:53:54.560
<v Speaker 2>over Liability shirt done, we got the we got the cream.

0:53:54.640 --> 0:53:56.839
<v Speaker 2>We got the cream shirt. You got the cream joint

0:53:56.880 --> 0:54:01.240
<v Speaker 2>with Okay, credit creditbles everything. That's that's the age vingnaw

0:54:01.400 --> 0:54:04.359
<v Speaker 2>before it was cash for everything around me, everything around

0:54:04.400 --> 0:54:07.759
<v Speaker 2>me like that. We got that. We got the crop,

0:54:07.960 --> 0:54:12.600
<v Speaker 2>the crop top, hoodies for the ladies, hats and yeah,

0:54:12.640 --> 0:54:15.520
<v Speaker 2>also our Patreon as well, Like I said, Patreon, that's

0:54:15.560 --> 0:54:19.080
<v Speaker 2>a way to support us financially, support the podcast financially

0:54:20.000 --> 0:54:22.560
<v Speaker 2>so we can keep bringing people on. We can expand

0:54:22.640 --> 0:54:25.000
<v Speaker 2>the podcast, we can travel, and we can give you

0:54:25.080 --> 0:54:29.200
<v Speaker 2>guys education on a weekly basis. So yes, thank you

0:54:29.360 --> 0:54:32.000
<v Speaker 2>for your support and we will see you guys next week.

0:54:32.080 --> 0:55:00.799
<v Speaker 2>Peace allright, coach?

0:55:00.960 --> 0:55:03.360
<v Speaker 7>The energy out there felt different. What changed for the

0:55:03.440 --> 0:55:03.920
<v Speaker 7>team today?

0:55:04.040 --> 0:55:06.160
<v Speaker 8>It was the new game day scratches from the California

0:55:06.239 --> 0:55:09.399
<v Speaker 8>Lottery Player is everything. Those games sent the team's energy

0:55:09.440 --> 0:55:09.919
<v Speaker 8>through the roof.

0:55:10.040 --> 0:55:12.000
<v Speaker 7>Are you saying it was the off field play that

0:55:12.080 --> 0:55:13.160
<v Speaker 7>made the difference on the field.

0:55:13.280 --> 0:55:16.000
<v Speaker 8>Hey, little play makes your day, and today it made

0:55:16.040 --> 0:55:18.879
<v Speaker 8>the game. That's awfu now, Coach, one more question?

0:55:19.120 --> 0:55:21.960
<v Speaker 7>Played the new Los Angeles Chargers, San Francisco forty nine

0:55:22.040 --> 0:55:25.040
<v Speaker 7>Ers and Los Angeles Ram scratchers from the California Lottery.

0:55:25.200 --> 0:55:26.759
<v Speaker 7>A little play can make your day.

0:55:27.440 --> 0:55:27.640
<v Speaker 5>Peace.

0:55:27.680 --> 0:55:29.640
<v Speaker 7>Pay responsibly. Must be eighteen years or older to purchase

0:55:29.680 --> 0:55:30.200
<v Speaker 7>plate or claim