1 00:00:04,960 --> 00:00:07,280 Speaker 1: Welcome to Money Making Conversations. It's the show that she 2 00:00:07,320 --> 00:00:10,039 Speaker 1: has the secrets of success experience firsthand by marketing and 3 00:00:10,119 --> 00:00:13,039 Speaker 1: Brandon expert Rashan McDonald. I will know he's giving me 4 00:00:13,080 --> 00:00:16,640 Speaker 1: advice to many occasions. In occasion didn't notice, I'm not broke. 5 00:00:17,160 --> 00:00:20,079 Speaker 1: You know. He'll be interview with celebrity CEOs, entrepreneurs and 6 00:00:20,120 --> 00:00:22,880 Speaker 1: industry decision makers. It's what he likes to do, it's 7 00:00:22,880 --> 00:00:25,320 Speaker 1: what he likes to share. Now it's time to hear 8 00:00:25,320 --> 00:00:29,480 Speaker 1: from my man, Rashan McDonald money Making Conversations. Here we come. 9 00:00:30,040 --> 00:00:33,840 Speaker 1: Welcome to Money Making Conversation. I am your host, Rushan McDonald's. 10 00:00:33,920 --> 00:00:36,960 Speaker 1: I recognized that we all have different definitions of success. 11 00:00:37,000 --> 00:00:39,800 Speaker 1: For some, it's a sizable paycheck. Mine is helping people 12 00:00:39,880 --> 00:00:42,239 Speaker 1: wake up and inspiring them to accomplish their goals and 13 00:00:42,280 --> 00:00:45,239 Speaker 1: live their very best life. These are my passions and 14 00:00:45,240 --> 00:00:46,800 Speaker 1: that's what I'm going to do for you. That's why 15 00:00:46,840 --> 00:00:49,480 Speaker 1: I created Money Making Conversations. I want you to stop 16 00:00:49,479 --> 00:00:52,600 Speaker 1: tripping over small challenges and prepare to rise above the 17 00:00:52,640 --> 00:00:55,800 Speaker 1: bigger obstacles that life will present to you. My next 18 00:00:55,800 --> 00:01:00,000 Speaker 1: guest is Dr Joseph Asama. He's the property investment Strategy 19 00:01:00,040 --> 00:01:03,960 Speaker 1: just In President of Capital National Management Corporation. Dr Joseph 20 00:01:04,040 --> 00:01:06,240 Speaker 1: is from Ghanam and came to America by way of 21 00:01:06,280 --> 00:01:08,959 Speaker 1: England over thirty years ago with only one hundred dollars 22 00:01:08,959 --> 00:01:11,560 Speaker 1: in his pocket. He now owns over for their homes 23 00:01:11,680 --> 00:01:14,880 Speaker 1: they rent the low income families. His mission is simple, 24 00:01:15,200 --> 00:01:17,839 Speaker 1: is to change lives and provide opportunities for low income 25 00:01:17,880 --> 00:01:21,600 Speaker 1: people to live in safer neighborhoods and have access to resources, 26 00:01:21,800 --> 00:01:25,560 Speaker 1: better education for their children, and beautiful design equity homes. 27 00:01:26,120 --> 00:01:30,160 Speaker 1: He provides solutions to tackle gentrification and affordable housing issues 28 00:01:30,319 --> 00:01:33,600 Speaker 1: and unique in very very effective ways. Please work on 29 00:01:33,600 --> 00:01:40,120 Speaker 1: the money making conversations. Dr Joseph asama Chan was an honor. 30 00:01:40,360 --> 00:01:43,600 Speaker 1: I am so happy to thank you. Well. I'm telling 31 00:01:43,640 --> 00:01:45,720 Speaker 1: something when I when I read your bio and they 32 00:01:45,959 --> 00:01:47,680 Speaker 1: they told me you'd like to do my show and 33 00:01:47,680 --> 00:01:51,040 Speaker 1: I can interview you. You know, my show is about uplift. 34 00:01:51,320 --> 00:01:54,080 Speaker 1: It's about motivation, about letting people know there are there 35 00:01:54,160 --> 00:01:56,760 Speaker 1: is a better option for you live. And that's that 36 00:01:56,840 --> 00:01:58,720 Speaker 1: seems to be your mantra. Man. It's like you know, 37 00:01:58,760 --> 00:02:00,760 Speaker 1: when I looked at everything I read it it's about 38 00:02:00,800 --> 00:02:03,720 Speaker 1: how can somebody understand that there's an opportunity that they 39 00:02:03,760 --> 00:02:06,520 Speaker 1: don't know about. You can give them information not only 40 00:02:06,560 --> 00:02:10,120 Speaker 1: for a lifestyle, but but an income opportunity to change 41 00:02:10,480 --> 00:02:16,120 Speaker 1: and value themselves as better people in America. Exactly, exactly, exactly. 42 00:02:16,360 --> 00:02:19,120 Speaker 1: I'm looking forward to sharing some of my ideas and 43 00:02:19,160 --> 00:02:21,720 Speaker 1: some of my journeys traveling tribulations, ups and downs, and 44 00:02:21,760 --> 00:02:25,079 Speaker 1: hopefully be a source of inspiration to your listeners. Well, 45 00:02:25,080 --> 00:02:26,880 Speaker 1: you are a social inspiration because when I read it 46 00:02:26,880 --> 00:02:28,919 Speaker 1: in the beginning, you know, you thirty years ago a 47 00:02:29,000 --> 00:02:31,600 Speaker 1: hundred dollars in your pocket, and a lot of people 48 00:02:31,800 --> 00:02:34,040 Speaker 1: start with you know that's that may be a lot 49 00:02:34,040 --> 00:02:35,840 Speaker 1: of money to some people because in the era that 50 00:02:35,840 --> 00:02:38,040 Speaker 1: we lived today, in the middle of the pandemic, let's 51 00:02:38,080 --> 00:02:40,160 Speaker 1: talk about that. Let's start right now with that, because 52 00:02:40,440 --> 00:02:43,639 Speaker 1: we know housing there's a major issue. People are being evicted. 53 00:02:43,840 --> 00:02:47,880 Speaker 1: CDC did a suspend payment, but to come January, you 54 00:02:47,919 --> 00:02:50,600 Speaker 1: still will have to pay the payments that you missed 55 00:02:50,960 --> 00:02:54,520 Speaker 1: during that suspension period. How well a guy who reach 56 00:02:54,560 --> 00:02:57,600 Speaker 1: out to low income housing, how has that impacted what 57 00:02:57,639 --> 00:02:59,800 Speaker 1: you're trying to do for the community and the people 58 00:02:59,800 --> 00:03:03,200 Speaker 1: who were reining from you. Yeah, I mean what I found, 59 00:03:03,320 --> 00:03:06,080 Speaker 1: as I said, the houses, the basic human need that 60 00:03:06,280 --> 00:03:11,200 Speaker 1: everybody needs. And what I realized when I first came here. Um, 61 00:03:11,360 --> 00:03:14,519 Speaker 1: in fact, the story was, I came here with I 62 00:03:14,600 --> 00:03:16,320 Speaker 1: knew one person in the United States. I used to 63 00:03:16,360 --> 00:03:19,680 Speaker 1: live in England. And when I came here, my uh 64 00:03:19,919 --> 00:03:24,200 Speaker 1: about six weeks after I arrived, my boss was fired. Uh, 65 00:03:24,280 --> 00:03:26,120 Speaker 1: not because of anything he did wrong. It was just 66 00:03:26,160 --> 00:03:30,720 Speaker 1: that there was a reorganization and essentially the new guy 67 00:03:30,760 --> 00:03:33,960 Speaker 1: that came in, um, you know, got rid of my 68 00:03:33,960 --> 00:03:36,760 Speaker 1: my boss. And he was like, oh so about six 69 00:03:36,840 --> 00:03:38,600 Speaker 1: or seven weeks later, a few weeks later, we met 70 00:03:38,640 --> 00:03:42,920 Speaker 1: up for lunch and this was, in hindsight, probably a 71 00:03:42,960 --> 00:03:46,720 Speaker 1: major change in my life. He's basically what he said 72 00:03:46,720 --> 00:03:48,840 Speaker 1: to me during that line. He said, look, this is America. 73 00:03:48,960 --> 00:03:52,080 Speaker 1: These things happen, and but make sure you have a 74 00:03:52,120 --> 00:03:56,200 Speaker 1: plan B because you don't know what's going to happen tomorrow. 75 00:03:56,520 --> 00:04:00,200 Speaker 1: And this guy apparently he had like ten houses, and 76 00:04:00,400 --> 00:04:02,760 Speaker 1: I just couldn't fathom how anybody could have more than 77 00:04:02,800 --> 00:04:06,000 Speaker 1: one house. This is like, how is that possible? And 78 00:04:06,280 --> 00:04:09,520 Speaker 1: he just said, look, Joe, if whatever you do, make 79 00:04:09,560 --> 00:04:11,760 Speaker 1: sure you have a plan B. I chose real estate, 80 00:04:11,800 --> 00:04:14,440 Speaker 1: but if you do buy something, make sure that you 81 00:04:14,600 --> 00:04:18,640 Speaker 1: keep it, don't sell it, because over the long haul, Um, 82 00:04:19,080 --> 00:04:21,160 Speaker 1: you know you'll be fine. Because he had this rental 83 00:04:21,240 --> 00:04:25,120 Speaker 1: income coming in which is able to provide provide him 84 00:04:25,160 --> 00:04:28,560 Speaker 1: that sort of cushion because he lost his job. So 85 00:04:29,200 --> 00:04:32,040 Speaker 1: I knew zero about real estate invest in and I 86 00:04:32,080 --> 00:04:35,200 Speaker 1: didn't have any money. But you know, I talked about 87 00:04:35,200 --> 00:04:37,880 Speaker 1: his word. I did some research, and I brought my 88 00:04:37,920 --> 00:04:41,120 Speaker 1: first house about a couple of years later, a complete disaster. 89 00:04:41,279 --> 00:04:44,719 Speaker 1: Everything I could have gone wrong went wrong. And I 90 00:04:44,720 --> 00:04:47,720 Speaker 1: mean I can go through that. But when you say 91 00:04:47,800 --> 00:04:51,000 Speaker 1: everything it could be wrong, cove gone wrong wrong, what 92 00:04:51,040 --> 00:04:53,760 Speaker 1: do you mean when you say that. Well, in this 93 00:04:53,800 --> 00:04:59,120 Speaker 1: particular case, Um, the house had tenants inside already, and 94 00:04:59,560 --> 00:05:02,120 Speaker 1: so when I spoke to him what the potential person 95 00:05:02,160 --> 00:05:04,200 Speaker 1: I was buying the seller of the house, I asked, 96 00:05:04,360 --> 00:05:06,320 Speaker 1: you know, what are the tenants like? He said, Oh, man, 97 00:05:06,320 --> 00:05:08,240 Speaker 1: they're great, They're fantastic people. I mean, I was straight 98 00:05:08,279 --> 00:05:11,160 Speaker 1: from England. You know, all Americans are honest people. So 99 00:05:11,200 --> 00:05:14,440 Speaker 1: I talked about his words. And after I bought the house, 100 00:05:14,480 --> 00:05:16,400 Speaker 1: I found out that they hadn't paid him for three 101 00:05:16,440 --> 00:05:19,440 Speaker 1: months and they had a water bill of five thousand 102 00:05:19,480 --> 00:05:23,040 Speaker 1: dollars um. So that's why that was my first entrain 103 00:05:23,120 --> 00:05:27,760 Speaker 1: to real estate. This this this, uh, this disaster and 104 00:05:28,040 --> 00:05:30,839 Speaker 1: h but essentially what happened in the end, I was 105 00:05:30,880 --> 00:05:32,960 Speaker 1: able to turn that thing around. I didn't know anything, 106 00:05:33,240 --> 00:05:36,160 Speaker 1: and they would turn around, worked with the tenants and 107 00:05:36,200 --> 00:05:40,039 Speaker 1: we're able to catch everything up. But looking back, that 108 00:05:40,160 --> 00:05:42,800 Speaker 1: was probably um the best thing that ever happened. Not 109 00:05:42,880 --> 00:05:45,360 Speaker 1: because I mean we can laugh about it now, but 110 00:05:45,720 --> 00:05:47,840 Speaker 1: during the time, it was just pure help what I learned. 111 00:05:47,960 --> 00:05:50,279 Speaker 1: What I learned was everything that you're not supposed to 112 00:05:50,440 --> 00:05:53,760 Speaker 1: what not to do. And once I was able to 113 00:05:53,800 --> 00:05:56,479 Speaker 1: sort of pick myself up and then bought the second house, 114 00:05:56,800 --> 00:05:58,440 Speaker 1: and then bought the third house and just sort of 115 00:05:58,440 --> 00:06:04,080 Speaker 1: continued until about fifty years ago when all my back 116 00:06:04,120 --> 00:06:07,240 Speaker 1: time I was working for a major technology company. My 117 00:06:07,440 --> 00:06:10,760 Speaker 1: income that company equaled what I was making of my 118 00:06:10,800 --> 00:06:13,720 Speaker 1: rental properties, so I was able to have that plan 119 00:06:13,839 --> 00:06:18,240 Speaker 1: b that you know, my Xbox told me about. So, 120 00:06:18,480 --> 00:06:21,120 Speaker 1: I mean, that's essentially the journey is that real estate. 121 00:06:22,200 --> 00:06:26,000 Speaker 1: You know, it has lots of benefits. Uh, it can 122 00:06:26,040 --> 00:06:30,200 Speaker 1: be a really true vehicle towards wealth, wealth building. You 123 00:06:30,240 --> 00:06:33,760 Speaker 1: can create a legacy, Uh, you can get cash flow, 124 00:06:33,800 --> 00:06:38,120 Speaker 1: you can get tax benefits. Dr Joseph, let me make 125 00:06:38,200 --> 00:06:40,560 Speaker 1: you this, you know, because you know either word plan 126 00:06:40,680 --> 00:06:42,400 Speaker 1: B and I just I just see it. You just 127 00:06:42,440 --> 00:06:45,440 Speaker 1: became an entrepreneur or are you working for somebody? And 128 00:06:45,480 --> 00:06:48,239 Speaker 1: you just became an entrepreneur and you use the gift 129 00:06:48,279 --> 00:06:51,720 Speaker 1: that you had the ability to to uh to see 130 00:06:51,920 --> 00:06:54,760 Speaker 1: your visionary skills saying okay, this is income because we've 131 00:06:54,760 --> 00:06:57,000 Speaker 1: see so many popular TV shows on now to kind 132 00:06:57,000 --> 00:07:00,480 Speaker 1: of talk about flipping homes, and just just that's that 133 00:07:00,839 --> 00:07:03,040 Speaker 1: you're so popular now. So thirty years ago they weren't, 134 00:07:03,040 --> 00:07:06,040 Speaker 1: that idea wasn't popular, but now it's a TV friendly 135 00:07:06,080 --> 00:07:09,680 Speaker 1: show to watch. And so so your plan B, like 136 00:07:09,720 --> 00:07:12,280 Speaker 1: I said to me, it's just that you just you 137 00:07:12,400 --> 00:07:15,360 Speaker 1: just welcomed your role as an entrepreneur and then you 138 00:07:15,600 --> 00:07:17,640 Speaker 1: would enable you to be able to walk away from 139 00:07:17,720 --> 00:07:20,600 Speaker 1: that hourly wage or that for the our week job. 140 00:07:20,680 --> 00:07:23,560 Speaker 1: There's so many people are strapped to and so so 141 00:07:23,600 --> 00:07:25,320 Speaker 1: when I when I see that and I see the 142 00:07:25,320 --> 00:07:29,360 Speaker 1: opportunity that you present yourself, it's an easy conversation talking 143 00:07:29,360 --> 00:07:32,200 Speaker 1: about Webbot one home about to home, we see bodies 144 00:07:32,200 --> 00:07:35,640 Speaker 1: only did you use personal loans. Did you use income 145 00:07:35,720 --> 00:07:39,480 Speaker 1: from your bank savings? How did you initially start buying 146 00:07:39,480 --> 00:07:41,840 Speaker 1: a home and then a second home? And third did 147 00:07:41,840 --> 00:07:43,880 Speaker 1: you leverage the first home? How did that? How did 148 00:07:43,880 --> 00:07:48,440 Speaker 1: this this this process st process start to develop. Yeah, okay, 149 00:07:48,440 --> 00:07:52,280 Speaker 1: So the first sound I bought, um, you know, the 150 00:07:52,280 --> 00:07:57,600 Speaker 1: one with that disaster. Essentially, the seller, I mean that 151 00:07:57,720 --> 00:08:00,960 Speaker 1: kind of I was working the seller at that point, 152 00:08:01,120 --> 00:08:03,120 Speaker 1: was able to well, was able to negotiate with him 153 00:08:03,120 --> 00:08:05,920 Speaker 1: because he wanted to get rid of the house. Whereby 154 00:08:06,120 --> 00:08:08,880 Speaker 1: essentially I was able to buy that house without much 155 00:08:08,920 --> 00:08:11,720 Speaker 1: money down. You know, we're able to negotiate a low 156 00:08:11,760 --> 00:08:14,200 Speaker 1: down payment, and I was able to afford that because 157 00:08:14,200 --> 00:08:15,400 Speaker 1: he wanted to get He was what we call the 158 00:08:15,480 --> 00:08:17,400 Speaker 1: motivated seller. He just want to get rid of that thing. 159 00:08:17,880 --> 00:08:19,920 Speaker 1: Now the second half, the second house, which is probably 160 00:08:19,920 --> 00:08:24,040 Speaker 1: more important, um, was that at that time I bought 161 00:08:24,040 --> 00:08:29,880 Speaker 1: a house specifically whereby I could rent some space in 162 00:08:29,920 --> 00:08:33,559 Speaker 1: the home. Okay, So I had a basement which I 163 00:08:33,600 --> 00:08:36,240 Speaker 1: knew I could sort of rent out. It has three 164 00:08:36,280 --> 00:08:38,319 Speaker 1: bedrooms upstairs. I was like, I lived in one and 165 00:08:38,360 --> 00:08:40,600 Speaker 1: rented the other two out. So what that meant was 166 00:08:40,640 --> 00:08:45,400 Speaker 1: that I could buy this home. But my expenses. The 167 00:08:45,440 --> 00:08:48,400 Speaker 1: biggest expense that most people have is their housing expense. 168 00:08:48,480 --> 00:08:51,480 Speaker 1: If you're able to drive that thing down, uh to 169 00:08:52,160 --> 00:08:54,920 Speaker 1: buy renting part of the space in the home, uh, 170 00:08:55,120 --> 00:08:58,840 Speaker 1: then your everyday expenses goes down quite tremendously. So in 171 00:08:58,880 --> 00:09:01,880 Speaker 1: this case, the income that I was getting from the 172 00:09:01,920 --> 00:09:06,560 Speaker 1: property essentially equalled the mortgage that I was paying out, 173 00:09:07,000 --> 00:09:10,199 Speaker 1: and therefore I was able to save more money. And 174 00:09:10,240 --> 00:09:13,439 Speaker 1: then I saved and hid from saving, and therefore, by 175 00:09:13,440 --> 00:09:15,800 Speaker 1: the savings from the second property, I was able to 176 00:09:15,840 --> 00:09:18,440 Speaker 1: have the down payment for the third property and so on. 177 00:09:18,559 --> 00:09:21,680 Speaker 1: And if that makes sense, uh So the idea is 178 00:09:21,720 --> 00:09:24,080 Speaker 1: that there's two things. One is, okay, if you don't 179 00:09:24,120 --> 00:09:26,880 Speaker 1: have any money, okay, and you want to get this 180 00:09:26,960 --> 00:09:30,160 Speaker 1: thing going, then you have several options. One is to 181 00:09:30,280 --> 00:09:33,720 Speaker 1: obviously you need to either increase your income by having 182 00:09:33,760 --> 00:09:36,839 Speaker 1: a size hustle or generate some income one way or 183 00:09:36,880 --> 00:09:39,920 Speaker 1: the other. Or you can reduce your expenses. And the 184 00:09:39,920 --> 00:09:43,040 Speaker 1: biggest expense that most people have is their housing extense, 185 00:09:43,080 --> 00:09:45,760 Speaker 1: So how can you drive that housing expense lower? So 186 00:09:45,800 --> 00:09:47,600 Speaker 1: it's that you can save some money from which you 187 00:09:47,600 --> 00:09:49,959 Speaker 1: can then start. If you don't have that, then the 188 00:09:50,080 --> 00:09:53,800 Speaker 1: third option is to develop expertise and knowledge and therefore 189 00:09:53,840 --> 00:09:57,880 Speaker 1: your part your partner with people who do have the resources. Okay, 190 00:09:57,960 --> 00:10:00,320 Speaker 1: so there's people out there who have money, I don't 191 00:10:00,360 --> 00:10:02,800 Speaker 1: know how to do this. Uh So you have to 192 00:10:02,800 --> 00:10:04,840 Speaker 1: bring something to the table for them to want to 193 00:10:04,880 --> 00:10:07,240 Speaker 1: work with you, so that you may have the knowledge, 194 00:10:07,360 --> 00:10:09,120 Speaker 1: or you may have the time or the expertise, or 195 00:10:09,160 --> 00:10:11,880 Speaker 1: you developed that anyway, and then you can partner with 196 00:10:11,920 --> 00:10:14,000 Speaker 1: people who may not who have the money but don't 197 00:10:14,000 --> 00:10:16,280 Speaker 1: not have the skill. pH. I remember a couple of steps. 198 00:10:16,440 --> 00:10:18,160 Speaker 1: I want to say a couple of uck teen years ago, 199 00:10:18,720 --> 00:10:20,920 Speaker 1: a friend of mine approached me and he was telling 200 00:10:20,920 --> 00:10:24,200 Speaker 1: me about, you know what's going into a uh interest 201 00:10:24,240 --> 00:10:26,480 Speaker 1: in the neighborhood, and he was saying that the city 202 00:10:26,920 --> 00:10:31,120 Speaker 1: in general won'ts these neighborhoods upgraded because it because if 203 00:10:31,120 --> 00:10:33,000 Speaker 1: you upgrade the block. Because he was just talking about 204 00:10:33,160 --> 00:10:34,600 Speaker 1: we went down this block. He said, what we're gonna 205 00:10:34,600 --> 00:10:37,000 Speaker 1: do is we're gonna buy these homes here and we're 206 00:10:37,000 --> 00:10:39,320 Speaker 1: gonna upgrade them a little bit. And we upgrade these 207 00:10:39,360 --> 00:10:41,520 Speaker 1: homes and fixed the street, then the city will be 208 00:10:41,559 --> 00:10:44,360 Speaker 1: able to raise the tax dollars. And he said that's 209 00:10:44,400 --> 00:10:46,679 Speaker 1: the That's why the city likes when you come in 210 00:10:46,720 --> 00:10:51,160 Speaker 1: and get these neighborhoods upgraded because they can charge more taxes. Now, 211 00:10:51,360 --> 00:10:53,480 Speaker 1: when you charge more taxes than turn, that means that 212 00:10:53,520 --> 00:10:55,959 Speaker 1: the people who live in the homes can't maybe not 213 00:10:56,040 --> 00:10:58,760 Speaker 1: maybe or may not can't afford it. So how does 214 00:10:58,800 --> 00:11:01,280 Speaker 1: that work with you? Because when you're going in, I'm 215 00:11:01,320 --> 00:11:03,920 Speaker 1: sure you're taking these homes, you're purchasing them, that you're 216 00:11:04,000 --> 00:11:07,160 Speaker 1: upgrading them. That do the taxes increase on the people? 217 00:11:07,400 --> 00:11:10,040 Speaker 1: Are you or do you pass those those taxes increases 218 00:11:10,120 --> 00:11:15,679 Speaker 1: to the to the renters? How does that work? Okay? Um, 219 00:11:15,760 --> 00:11:19,040 Speaker 1: So you buy a house and then you improve it, 220 00:11:19,600 --> 00:11:21,840 Speaker 1: and then you you know, once you improve it, obviously 221 00:11:21,840 --> 00:11:25,599 Speaker 1: the values go up. And uh, most times, as you 222 00:11:25,640 --> 00:11:28,200 Speaker 1: said before, the tax of the assessments are based on 223 00:11:28,240 --> 00:11:30,600 Speaker 1: the value the home, so that the taxes may go up. 224 00:11:31,520 --> 00:11:33,560 Speaker 1: So I mean, that's just the reality. So what I 225 00:11:33,640 --> 00:11:36,960 Speaker 1: do is that, you know, I rent most of my 226 00:11:37,080 --> 00:11:40,760 Speaker 1: houses to low income families. Many of the families have 227 00:11:41,559 --> 00:11:45,600 Speaker 1: housing choice values sexually as they uh as people commonly 228 00:11:46,080 --> 00:11:49,800 Speaker 1: refer them to. One thing I've realized is that there's 229 00:11:49,840 --> 00:11:52,240 Speaker 1: a lot of families it's a stigma associated with Section 230 00:11:52,280 --> 00:11:55,920 Speaker 1: eight in low income housing, there's UH. What I realized 231 00:11:55,960 --> 00:11:58,200 Speaker 1: is that there's a large number of families out there 232 00:11:58,240 --> 00:12:00,320 Speaker 1: who are really no different than you and I, which 233 00:12:00,400 --> 00:12:04,400 Speaker 1: on um. They want the best of their children. They 234 00:12:04,400 --> 00:12:05,800 Speaker 1: don't want to be shot at them more than you 235 00:12:05,840 --> 00:12:07,440 Speaker 1: want to be shot at. They want to have a 236 00:12:07,440 --> 00:12:10,200 Speaker 1: decent home, They want to live in a uh you know, 237 00:12:10,559 --> 00:12:12,960 Speaker 1: you know where, access to the amanities. There really no 238 00:12:13,040 --> 00:12:14,839 Speaker 1: different than you and I. The only difference is that 239 00:12:15,160 --> 00:12:19,360 Speaker 1: they may not have the money, but their goals, their outlook, 240 00:12:19,400 --> 00:12:21,640 Speaker 1: their expectations for their children are no different than you 241 00:12:21,720 --> 00:12:23,640 Speaker 1: and I. So what I realized when I realized this 242 00:12:24,240 --> 00:12:27,560 Speaker 1: is that if I can provide quality housing in good areas, 243 00:12:28,559 --> 00:12:33,280 Speaker 1: I can attract those families and uh and when when 244 00:12:33,320 --> 00:12:36,319 Speaker 1: you get those families, it truly is a blessing because 245 00:12:36,320 --> 00:12:39,720 Speaker 1: what happens is that they are so appreciative of the 246 00:12:39,760 --> 00:12:41,800 Speaker 1: fact that someone is giving them an opportunity to live 247 00:12:41,840 --> 00:12:44,360 Speaker 1: in a nice house in a nice area. And four 248 00:12:44,440 --> 00:12:47,040 Speaker 1: things happen. One is that they pay their rent to 249 00:12:47,760 --> 00:12:50,480 Speaker 1: is that they take care of your property. Three they're 250 00:12:50,480 --> 00:12:53,400 Speaker 1: pleasant to deal with, and four, which is probably the 251 00:12:53,440 --> 00:12:57,200 Speaker 1: most important one, they stay a long time. And this business, 252 00:12:57,480 --> 00:13:01,000 Speaker 1: as I'm sure you know, it's cheaper to keep an 253 00:13:01,000 --> 00:13:05,520 Speaker 1: existing customer happy is to go find another one. So 254 00:13:05,760 --> 00:13:08,720 Speaker 1: in the space of the real estate environment, is cheaper 255 00:13:08,760 --> 00:13:11,160 Speaker 1: to have an existing tenant happy, so they stay with 256 00:13:11,160 --> 00:13:13,920 Speaker 1: you a long time rather than having the vacancy and 257 00:13:14,000 --> 00:13:16,680 Speaker 1: turnover when they leave, because when they leave, you've got 258 00:13:16,800 --> 00:13:19,000 Speaker 1: to paint the place again, you're clean us and so forth. 259 00:13:19,559 --> 00:13:23,360 Speaker 1: So um, so there's what the you know, so the 260 00:13:23,360 --> 00:13:26,280 Speaker 1: rents that you collect each month stays in your pocket. 261 00:13:26,679 --> 00:13:32,359 Speaker 1: But the important thing is that you're providing life changing opportunities. 262 00:13:32,800 --> 00:13:35,160 Speaker 1: Life changing. I mean, I was speaking to one of 263 00:13:35,200 --> 00:13:37,560 Speaker 1: my tenants last week. Just by the fact that she 264 00:13:37,679 --> 00:13:40,640 Speaker 1: moved into one of my profities. Two of her kids 265 00:13:40,760 --> 00:13:43,480 Speaker 1: have got four point oh g p a s. They're 266 00:13:43,480 --> 00:13:46,920 Speaker 1: going to college, four scholarships. H This would not have 267 00:13:47,040 --> 00:13:50,760 Speaker 1: happened if they weren't in a better area. Uh, this 268 00:13:50,880 --> 00:13:54,520 Speaker 1: wilt have happened if those opportunities to the present themselves 269 00:13:54,520 --> 00:13:57,040 Speaker 1: to you. So I mean, that's really the other side 270 00:13:57,040 --> 00:13:59,400 Speaker 1: of the things. You can make money, but also you 271 00:13:59,400 --> 00:14:05,120 Speaker 1: can do good and m That's what you stated in 272 00:14:05,160 --> 00:14:08,240 Speaker 1: your early ambission is to change lives provide opportunities for 273 00:14:08,240 --> 00:14:11,200 Speaker 1: low income people to live in safer neighborhoods and have 274 00:14:11,320 --> 00:14:14,640 Speaker 1: access to resources and that education. That's what always angers 275 00:14:14,720 --> 00:14:17,839 Speaker 1: me about racism, because racism acts like it makes it 276 00:14:17,880 --> 00:14:20,480 Speaker 1: seem like people who don't have, or people of color 277 00:14:20,520 --> 00:14:24,040 Speaker 1: who don't have, want to steal, want to sell drugs, 278 00:14:24,320 --> 00:14:27,480 Speaker 1: want to bring down the value of the neighborhood because 279 00:14:27,480 --> 00:14:29,920 Speaker 1: they move into that neighborhood. And that's, really, like you said, 280 00:14:30,000 --> 00:14:33,240 Speaker 1: a horrible stereotype that you have to deal with when 281 00:14:33,240 --> 00:14:36,000 Speaker 1: you're meeting people who just want the same value and 282 00:14:36,040 --> 00:14:40,920 Speaker 1: the same opportunity exactly exactly I mean, I mean the 283 00:14:41,680 --> 00:14:44,240 Speaker 1: larger context is, at least in Washington, d C. I'm 284 00:14:44,240 --> 00:14:47,080 Speaker 1: sure it's the same thing where you are and many 285 00:14:47,080 --> 00:14:51,400 Speaker 1: of your listeners are. Neighborhoods are being transformed, okay, being changed, 286 00:14:51,480 --> 00:14:56,240 Speaker 1: Okay through gentrification. Now that's just the reality, at least 287 00:14:56,280 --> 00:15:00,320 Speaker 1: in Washington, d C. It's just rampants the neighborhoods where 288 00:15:00,400 --> 00:15:02,320 Speaker 1: many years ago you say, who the hell want to 289 00:15:02,320 --> 00:15:04,520 Speaker 1: live there? Now you can't get there, you can't get in. 290 00:15:04,640 --> 00:15:08,280 Speaker 1: It's changed. Uh. For example, when when you know one 291 00:15:08,280 --> 00:15:11,120 Speaker 1: of the blocks where we lived in Washington d C. 292 00:15:11,400 --> 00:15:14,480 Speaker 1: When I was there, that block was a hundred percent 293 00:15:14,480 --> 00:15:18,840 Speaker 1: black African American. Now that block is a percent white. 294 00:15:19,800 --> 00:15:23,760 Speaker 1: There's only one family on that block that's African American, 295 00:15:23,840 --> 00:15:27,760 Speaker 1: and that is my tenant. Uh If I didn't keep 296 00:15:27,800 --> 00:15:31,520 Speaker 1: that home and provide that opportunity to that family, they 297 00:15:31,560 --> 00:15:36,040 Speaker 1: wouldn't be there. So the idea is that you know, 298 00:15:36,360 --> 00:15:39,000 Speaker 1: through what we can do, you and I and so 299 00:15:39,160 --> 00:15:42,200 Speaker 1: for we can mitigate some of the effective gentrification, which 300 00:15:42,200 --> 00:15:46,120 Speaker 1: is displacement. We understand these families, we know what they're 301 00:15:46,120 --> 00:15:48,040 Speaker 1: trying to accomplish, and we can sort of have an 302 00:15:48,040 --> 00:15:51,280 Speaker 1: insight and really understanding to give them a chance, to 303 00:15:51,320 --> 00:15:58,120 Speaker 1: give them opportunities and hopefully, and that's why I brought 304 00:15:58,160 --> 00:16:00,240 Speaker 1: up the whole statement about you know, when when you 305 00:16:00,320 --> 00:16:03,320 Speaker 1: upgrade the neighborhood, or you upgrade a house, than the 306 00:16:03,360 --> 00:16:05,760 Speaker 1: taxes go up, and then that's what the people who 307 00:16:05,840 --> 00:16:08,320 Speaker 1: live in that sometimes have to move out. Or then 308 00:16:08,760 --> 00:16:11,240 Speaker 1: your situation that you was explaining about the same thing 309 00:16:11,240 --> 00:16:12,960 Speaker 1: happened to Halem. You go to Hall m right now. 310 00:16:13,000 --> 00:16:15,400 Speaker 1: I remember first moved to New York, you couldn't catch 311 00:16:15,400 --> 00:16:18,240 Speaker 1: a cab to HALLO. Now you walk the hall of 312 00:16:18,320 --> 00:16:19,800 Speaker 1: it two o'clock and more and the white people walking 313 00:16:19,800 --> 00:16:23,600 Speaker 1: around with their dogs, you know, street, and that's that's 314 00:16:23,680 --> 00:16:26,920 Speaker 1: no joke. And it's like, okay, this is like okay, 315 00:16:27,240 --> 00:16:30,240 Speaker 1: you know, you go other than other than Apollo Theater, 316 00:16:30,920 --> 00:16:33,360 Speaker 1: Hallam is pretty much white up there. You know, people 317 00:16:33,320 --> 00:16:35,040 Speaker 1: areguing that case with me. But go up there and 318 00:16:35,080 --> 00:16:37,080 Speaker 1: hang out because I know, I lived in New York 319 00:16:37,120 --> 00:16:39,560 Speaker 1: and New York and eighty eight. I moved back there 320 00:16:39,600 --> 00:16:43,400 Speaker 1: in two thousand five, and it was just two different neighborhoods. 321 00:16:43,400 --> 00:16:45,000 Speaker 1: But along the way, I would always go up there, 322 00:16:45,000 --> 00:16:48,480 Speaker 1: either to perform or to visit television show pitches or 323 00:16:48,880 --> 00:16:51,760 Speaker 1: visit people that I know. And you see these communities 324 00:16:51,840 --> 00:16:56,720 Speaker 1: change it or one hundred percent minority black Now they 325 00:16:56,720 --> 00:16:58,920 Speaker 1: can't even live in the neighborhood that they were born in. 326 00:16:59,240 --> 00:17:01,000 Speaker 1: They can't even live in the neighborhoods that they grew 327 00:17:01,120 --> 00:17:03,640 Speaker 1: up in because of the fact that the low income 328 00:17:03,680 --> 00:17:07,240 Speaker 1: has been pushed out and been pushed out because value 329 00:17:07,320 --> 00:17:10,480 Speaker 1: has all source the ability to have income to pay 330 00:17:10,520 --> 00:17:12,800 Speaker 1: for it. So when I listened to you saying like 331 00:17:13,160 --> 00:17:16,879 Speaker 1: black and local low income family lives do matter. Given 332 00:17:16,880 --> 00:17:20,200 Speaker 1: an opportunity to live in high income gingerfied areas that 333 00:17:20,320 --> 00:17:23,560 Speaker 1: you just mentioned they normally could never afford by utilizing 334 00:17:23,600 --> 00:17:27,360 Speaker 1: the recession proof formula. What does that recession proof formula 335 00:17:27,440 --> 00:17:31,879 Speaker 1: that you're talking about? Sure? The thing about some of 336 00:17:31,880 --> 00:17:34,600 Speaker 1: this sort of like the housing choice spouse for ago, 337 00:17:34,680 --> 00:17:38,080 Speaker 1: the sixth day program, it's it's a program whereby uh, 338 00:17:38,359 --> 00:17:41,520 Speaker 1: part of the rent is paid by the housing authority, 339 00:17:41,560 --> 00:17:44,760 Speaker 1: the local housing authority, and the remainder is paid by 340 00:17:44,800 --> 00:17:48,480 Speaker 1: the tent Okay, so um. So for instance, I'll just 341 00:17:48,520 --> 00:17:51,520 Speaker 1: give it an example. If the rent of this property 342 00:17:51,640 --> 00:17:53,720 Speaker 1: is a thousand dollars, for example, which is not the 343 00:17:53,720 --> 00:17:55,640 Speaker 1: case in New York, is not the case in Washington, 344 00:17:55,680 --> 00:17:58,560 Speaker 1: d C. But just for obviously easy numbers, if the 345 00:17:58,560 --> 00:18:01,199 Speaker 1: rent is a thousand dollars to y'all home, then you 346 00:18:01,280 --> 00:18:04,280 Speaker 1: may decide, well, the housing authority may pay let's say 347 00:18:04,640 --> 00:18:08,800 Speaker 1: six hundred of that thousand, and the tenants portion maybe 348 00:18:08,800 --> 00:18:11,560 Speaker 1: four hundreds. And the tenants portion is based on their income. 349 00:18:12,080 --> 00:18:14,120 Speaker 1: So the more money they made, the more that they pay. 350 00:18:14,160 --> 00:18:16,439 Speaker 1: The less money and they made the less that they pay. Okay, 351 00:18:16,480 --> 00:18:18,920 Speaker 1: So let's just take a simple scenario, a thousand dollar 352 00:18:19,080 --> 00:18:21,720 Speaker 1: und six hundreds paid by the housing authority and four 353 00:18:21,800 --> 00:18:24,679 Speaker 1: hundred dollars is paid by the tenant. The reason why 354 00:18:24,760 --> 00:18:27,719 Speaker 1: it's the recession proof is that if the tenant loses 355 00:18:27,760 --> 00:18:30,760 Speaker 1: their income, loses their job or whatever it is, then 356 00:18:30,800 --> 00:18:32,760 Speaker 1: typically what they will happen is that they'll go to 357 00:18:32,960 --> 00:18:36,520 Speaker 1: the housing authority and their portion will go down because 358 00:18:36,560 --> 00:18:39,120 Speaker 1: their income has gone down, So it may go from 359 00:18:39,119 --> 00:18:42,760 Speaker 1: four hundred to two hundred and uh and therefore the 360 00:18:42,880 --> 00:18:45,560 Speaker 1: housing authority picks up the difference, so their portion will 361 00:18:45,600 --> 00:18:48,840 Speaker 1: go from six hundred to eight hundreds. The thousand dollars 362 00:18:48,880 --> 00:18:51,879 Speaker 1: is still the same, it's just that the breakdown of 363 00:18:51,920 --> 00:18:56,080 Speaker 1: that thousand dollars will will will change. So in a 364 00:18:55,840 --> 00:19:01,679 Speaker 1: in a recession, when people lose their come uh or 365 00:19:01,720 --> 00:19:04,399 Speaker 1: people who have their house cut, hours cut, and things 366 00:19:04,440 --> 00:19:06,359 Speaker 1: like that, what happens is that they may not be 367 00:19:06,400 --> 00:19:08,840 Speaker 1: able to pay you, and therefore you would lose that 368 00:19:08,880 --> 00:19:13,200 Speaker 1: whole a thousand dollars. Okay, under that, if I was 369 00:19:13,240 --> 00:19:15,600 Speaker 1: rented to uh, let's say a market rent, if they 370 00:19:15,640 --> 00:19:17,359 Speaker 1: lost their job or lost their house, they may not 371 00:19:17,400 --> 00:19:19,159 Speaker 1: be able to pay a thousand dollars. But with a 372 00:19:19,240 --> 00:19:22,840 Speaker 1: house authority tenants this sectually eight tenants, that portion will 373 00:19:22,840 --> 00:19:26,200 Speaker 1: go from four hundred two hundreds, so I will still 374 00:19:26,240 --> 00:19:30,800 Speaker 1: get the eight hundred from the housing authority and the 375 00:19:30,880 --> 00:19:35,399 Speaker 1: tenants responsible for the two hundreds. So you are essentially 376 00:19:36,359 --> 00:19:38,240 Speaker 1: going to get most of your rents. It's not all 377 00:19:38,280 --> 00:19:41,679 Speaker 1: of your rent regards of the economic cycle that you're in. 378 00:19:42,280 --> 00:19:46,760 Speaker 1: And that's basically what you're saying is that these rental rented. 379 00:19:46,920 --> 00:19:49,240 Speaker 1: The individually rental kind of like I almost have a 380 00:19:49,280 --> 00:19:52,200 Speaker 1: built in and government plan that allows you to get 381 00:19:52,200 --> 00:19:55,040 Speaker 1: your rent paid, a portion of it paid at least, 382 00:19:55,440 --> 00:19:58,000 Speaker 1: no matter what's going on, no matter they're doing the pandemic, 383 00:19:58,280 --> 00:20:01,760 Speaker 1: no matter doing the reception. Pretty much can can can 384 00:20:02,080 --> 00:20:04,520 Speaker 1: still afloat with the tenant that you have versus a 385 00:20:04,560 --> 00:20:07,199 Speaker 1: person who may get laid off from a job, a 386 00:20:07,240 --> 00:20:10,119 Speaker 1: person who may get fired, may get terminated made to 387 00:20:10,240 --> 00:20:13,000 Speaker 1: do the illness, and they have no income than the 388 00:20:13,080 --> 00:20:18,240 Speaker 1: rint that you can potentially gift in that person is zero. Correct, Yes, yeah, 389 00:20:18,240 --> 00:20:20,879 Speaker 1: so I have some talents who ranks to zero and 390 00:20:20,920 --> 00:20:22,919 Speaker 1: some of them are hundred dollars, two undred alls or 391 00:20:22,920 --> 00:20:25,200 Speaker 1: whatever it is. So you know that that portion again 392 00:20:25,440 --> 00:20:28,080 Speaker 1: is based on the income that they make. But the 393 00:20:28,200 --> 00:20:32,080 Speaker 1: key though is that these are nice homes in nice areas, 394 00:20:32,119 --> 00:20:36,320 Speaker 1: these timlies are they want to stay there. Uh, and 395 00:20:36,400 --> 00:20:40,440 Speaker 1: so they're in no rush to leave. And uh, you know, 396 00:20:40,640 --> 00:20:44,720 Speaker 1: in this business, you know, I can't really stress this. 397 00:20:45,800 --> 00:20:51,439 Speaker 1: Certain neighborhoods, certain areas, certain cities, certain geographic geographers. Over time, 398 00:20:52,240 --> 00:20:56,479 Speaker 1: the prices of houses go up. And you know, as 399 00:20:56,480 --> 00:20:58,679 Speaker 1: you said in New York Atlanta, so over time the 400 00:20:58,680 --> 00:21:01,399 Speaker 1: houses go up. Therefore you can buy this health or 401 00:21:01,480 --> 00:21:04,840 Speaker 1: this asset and keep it for a long time, then 402 00:21:04,880 --> 00:21:08,000 Speaker 1: the price will go up. And that's that's a that's wealth, 403 00:21:08,080 --> 00:21:12,160 Speaker 1: that's legacy, that's income, that's cash flows that you can 404 00:21:12,200 --> 00:21:14,880 Speaker 1: obviously leave as a legacy to your family and your children. 405 00:21:15,320 --> 00:21:19,760 Speaker 1: And you know, and you can pass on like my 406 00:21:19,880 --> 00:21:22,200 Speaker 1: father should tell me. They're not gonna make it more land. 407 00:21:22,520 --> 00:21:24,960 Speaker 1: Once you buy that land, then it's something that you 408 00:21:25,000 --> 00:21:27,919 Speaker 1: can own and uh and build on and uh and 409 00:21:28,040 --> 00:21:30,880 Speaker 1: like you say, a legacy part of it. But in Joe, 410 00:21:30,920 --> 00:21:33,840 Speaker 1: you formed this the Legacy Investment Network. It's a free 411 00:21:33,840 --> 00:21:37,680 Speaker 1: community membership platform and basically everybody is comprised of nearly 412 00:21:37,720 --> 00:21:41,439 Speaker 1: one thousand investors and industry professionals who are access to 413 00:21:41,920 --> 00:21:45,560 Speaker 1: your expertise. So tell us about the Legacy Investment Network. 414 00:21:45,600 --> 00:21:49,600 Speaker 1: They're formed that you formed in Joseph. Yeah. I mean, 415 00:21:50,760 --> 00:21:54,760 Speaker 1: from my perspective, the pie is big enough everybody. Okay, Uh, 416 00:21:54,840 --> 00:21:57,159 Speaker 1: it doesn't matter if Rashaan does what I do. It 417 00:21:57,200 --> 00:22:00,560 Speaker 1: doesn't matter if you know, the pie is enough everybody. 418 00:22:01,080 --> 00:22:04,760 Speaker 1: And so what I realized, you know, is that whenever, whenever, 419 00:22:05,000 --> 00:22:07,960 Speaker 1: whenever I have a house for rent, I'm getting in 420 00:22:07,960 --> 00:22:13,040 Speaker 1: twelve thirteen fourteen applications. So I'm turning down ten twelve 421 00:22:13,080 --> 00:22:17,440 Speaker 1: thirteen people, families, families who are yearning for these opportunities. 422 00:22:17,560 --> 00:22:21,760 Speaker 1: So I cannot meet the needs. It's just not possible. Uh, 423 00:22:21,960 --> 00:22:25,840 Speaker 1: it's not possible. So therefore, you know, my whole idea 424 00:22:25,960 --> 00:22:28,240 Speaker 1: is what can I do to encourage other people to 425 00:22:28,320 --> 00:22:31,959 Speaker 1: replicate what I'm doing? Uh So that's the essential to 426 00:22:31,960 --> 00:22:35,000 Speaker 1: the genesis of the network, is that I try to 427 00:22:35,040 --> 00:22:37,920 Speaker 1: help people, educate people, share with them what I'm doing, 428 00:22:38,119 --> 00:22:40,440 Speaker 1: give them the opportunity to see what I'm doing, and 429 00:22:40,800 --> 00:22:43,520 Speaker 1: hopefully give them the inspiration and encouragement to replicate what 430 00:22:43,600 --> 00:22:48,520 Speaker 1: I'm doing. And that's essentially what it is. Because you 431 00:22:48,560 --> 00:22:52,040 Speaker 1: cannot meet the needs needs which are your listeners. Cannot 432 00:22:52,040 --> 00:22:55,480 Speaker 1: meet the needs the need is too great, and we 433 00:22:55,560 --> 00:22:59,840 Speaker 1: need more people to do this because the analogy is, 434 00:23:01,240 --> 00:23:05,159 Speaker 1: I see this is like the train is leaving the station. 435 00:23:05,720 --> 00:23:08,480 Speaker 1: We can sit on the station and curb and sort 436 00:23:08,480 --> 00:23:11,560 Speaker 1: of watch the train move leave and complain of the 437 00:23:11,600 --> 00:23:15,160 Speaker 1: trains left, or we can get onto that train and 438 00:23:15,520 --> 00:23:19,480 Speaker 1: be a you know, participant on that journey. So my job, 439 00:23:19,760 --> 00:23:21,680 Speaker 1: I think what I can do is to help people 440 00:23:21,720 --> 00:23:25,600 Speaker 1: get onto that train. Uh. And that's the essentially what 441 00:23:25,640 --> 00:23:28,879 Speaker 1: the letting Legacine network does. Well, you know the interesting 442 00:23:28,920 --> 00:23:32,080 Speaker 1: thing about it. When I look at your academic background 443 00:23:32,119 --> 00:23:36,840 Speaker 1: electric engineering n b A pH d. Education is important 444 00:23:36,880 --> 00:23:40,000 Speaker 1: to you and so because that that tells me that 445 00:23:40,080 --> 00:23:43,159 Speaker 1: you want other people have that same opportunity to educate themselves. 446 00:23:43,520 --> 00:23:45,480 Speaker 1: So when you're telling your story, what do you want 447 00:23:45,520 --> 00:23:51,280 Speaker 1: people to remember about you? Joseph? What do what? This is? 448 00:23:51,560 --> 00:23:56,919 Speaker 1: This is a good one good question. I don't mean 449 00:23:57,000 --> 00:23:59,600 Speaker 1: because you get time. I didn't made the stuff, you know, 450 00:24:01,200 --> 00:24:03,879 Speaker 1: but but you're the reason I said that. Let me 451 00:24:03,960 --> 00:24:05,280 Speaker 1: just back up a little bit. I don't tell you 452 00:24:05,280 --> 00:24:07,240 Speaker 1: why because when when when I look at a person 453 00:24:07,320 --> 00:24:10,000 Speaker 1: like you who you know you come when you come 454 00:24:10,000 --> 00:24:13,760 Speaker 1: over to this country from from England Gnabo okay, thirty 455 00:24:13,840 --> 00:24:17,480 Speaker 1: years ago, and you immediately understand. You see the opportunity, 456 00:24:17,560 --> 00:24:21,760 Speaker 1: but you're not afraid to investigate Dortor. Now you told 457 00:24:21,760 --> 00:24:24,480 Speaker 1: me earlier, you said, Rashan, I knew nothing about real estate. 458 00:24:24,640 --> 00:24:27,680 Speaker 1: But now you're considered a real estate a master and 459 00:24:27,800 --> 00:24:30,480 Speaker 1: real estate investment. You consider that. So it means that 460 00:24:30,840 --> 00:24:34,719 Speaker 1: you made yourself an expert. But then your academic training 461 00:24:34,840 --> 00:24:38,080 Speaker 1: is in electrical engineering, okay, and then you got the 462 00:24:38,240 --> 00:24:41,080 Speaker 1: m b a. And then information systems your PhD. So 463 00:24:41,119 --> 00:24:43,640 Speaker 1: none of these things have to do with real estate 464 00:24:43,720 --> 00:24:46,320 Speaker 1: other than the fact that you've taken an opportunity as 465 00:24:46,320 --> 00:24:50,199 Speaker 1: an entrepreneur and and mastered it. And so when I 466 00:24:50,240 --> 00:24:52,359 Speaker 1: asked you, what do you what do you want people 467 00:24:52,400 --> 00:24:58,440 Speaker 1: remembered by you? That's the question that I need learn answer. No, no, no, 468 00:24:59,280 --> 00:25:02,520 Speaker 1: let let me let me answer it this way. I 469 00:25:02,640 --> 00:25:05,879 Speaker 1: was thinking. I was thinking to my mom, okay, about 470 00:25:06,080 --> 00:25:09,760 Speaker 1: a few years ago. She's in England, and she was 471 00:25:09,840 --> 00:25:12,080 Speaker 1: telling me, I'll tell what I'm doing. She said, when 472 00:25:12,119 --> 00:25:14,080 Speaker 1: are you going to stop? Why why are you doing this? 473 00:25:14,119 --> 00:25:15,840 Speaker 1: When is he nothing enough? I mean, you know, it's 474 00:25:15,840 --> 00:25:20,160 Speaker 1: just a typical amount. Uh, she's not an entrepreneurs Why 475 00:25:20,200 --> 00:25:22,280 Speaker 1: are you doing this? When is he nothing enough? Haven't 476 00:25:22,280 --> 00:25:25,560 Speaker 1: you got enough houses? Stop? You know? And so on? 477 00:25:26,080 --> 00:25:27,960 Speaker 1: And I was just thinking about that because it's a 478 00:25:28,000 --> 00:25:31,560 Speaker 1: legitimate question when is enough enough? You know? When do 479 00:25:31,600 --> 00:25:35,440 Speaker 1: you say it's enough? Sean, you've accomplished what you need 480 00:25:35,480 --> 00:25:38,040 Speaker 1: to do um, you know, you don't what you can? 481 00:25:38,080 --> 00:25:41,600 Speaker 1: When is it enough enough? And so I realized that 482 00:25:42,600 --> 00:25:47,800 Speaker 1: what I'm doing essentially is providing opportunities for other families. 483 00:25:48,840 --> 00:25:52,520 Speaker 1: I'm providing opportunities hopefully by sharing knowledge to other investors 484 00:25:52,560 --> 00:25:55,080 Speaker 1: who can get onto, you know, do what I do. 485 00:25:55,560 --> 00:25:59,159 Speaker 1: So if I stop doing what I'm doing, then what 486 00:25:59,200 --> 00:26:03,400 Speaker 1: about those ten, twelve, thirteen tenants who have to turn 487 00:26:03,480 --> 00:26:07,200 Speaker 1: down where they're going to live and who's going to 488 00:26:07,280 --> 00:26:09,840 Speaker 1: provide them quality housing in quality areas? Who's going to 489 00:26:09,880 --> 00:26:12,399 Speaker 1: do what I'm doing? You know, who's gonna do it? 490 00:26:12,840 --> 00:26:18,480 Speaker 1: You know? So so, so the legacy essentially is hopefully, yes, 491 00:26:18,520 --> 00:26:21,240 Speaker 1: you can make money, but also you can do good. 492 00:26:21,359 --> 00:26:24,639 Speaker 1: You can provide um. You can be remembered as a 493 00:26:24,680 --> 00:26:28,879 Speaker 1: person who's provided the quality housing, You created opportunities for families, 494 00:26:29,160 --> 00:26:32,720 Speaker 1: and you help other other investors, other individuals, social African 495 00:26:32,760 --> 00:26:36,159 Speaker 1: American community build wealth and have a legacy which they 496 00:26:36,160 --> 00:26:40,800 Speaker 1: can test onto future generations. Because if we don't do this, 497 00:26:41,640 --> 00:26:45,000 Speaker 1: these neighborhoods are changing and we are being left behind. 498 00:26:46,680 --> 00:26:50,240 Speaker 1: We have no say in what's going on in our communities. 499 00:26:50,520 --> 00:26:52,800 Speaker 1: Zero say, We've got to own some of these assets. 500 00:26:52,800 --> 00:26:54,480 Speaker 1: We've got to own some of these communities. We've got 501 00:26:54,480 --> 00:26:57,840 Speaker 1: to own it, because if you don't own it, you're 502 00:26:57,920 --> 00:27:02,800 Speaker 1: the mercy of somebody else. You know, they they When 503 00:27:02,800 --> 00:27:07,440 Speaker 1: I your mom respond answer question, it was very natural 504 00:27:07,760 --> 00:27:11,480 Speaker 1: question because she's thinking from an investment, from an economic standpoint, 505 00:27:12,240 --> 00:27:15,680 Speaker 1: but she's she's she's born to this life an incredible 506 00:27:15,760 --> 00:27:19,720 Speaker 1: young man who is more than about money. You're about 507 00:27:19,800 --> 00:27:22,439 Speaker 1: changing lives, and you're about seeing you when you can 508 00:27:22,480 --> 00:27:24,280 Speaker 1: wake up the next day. This is a question that 509 00:27:24,400 --> 00:27:26,399 Speaker 1: if she ever asked you that question, just just a 510 00:27:26,400 --> 00:27:29,240 Speaker 1: response I would give to your mom. I was your mom, 511 00:27:29,359 --> 00:27:31,240 Speaker 1: when when I wake up the next day and I 512 00:27:31,280 --> 00:27:34,760 Speaker 1: don't have to worry about people not equally getting the 513 00:27:34,760 --> 00:27:37,440 Speaker 1: same opportunity to everybody else in this country. When they 514 00:27:37,480 --> 00:27:40,640 Speaker 1: when people are feel that their child can get equally 515 00:27:40,800 --> 00:27:43,440 Speaker 1: educated and living in the neighborhood that's comfortable to them, 516 00:27:43,760 --> 00:27:47,680 Speaker 1: when they don't have to worry about being rejected because 517 00:27:47,680 --> 00:27:51,240 Speaker 1: of the color of their skin. Then that will be enough, 518 00:27:51,720 --> 00:27:54,040 Speaker 1: will be enough to their mom. But right now it's 519 00:27:54,080 --> 00:27:58,639 Speaker 1: not enough. And people like you, Joseph Asimore, are important 520 00:27:58,680 --> 00:28:00,879 Speaker 1: to the chain of opportunity d for all of us 521 00:28:01,040 --> 00:28:03,479 Speaker 1: because I would tell people, you know, you know, if 522 00:28:03,480 --> 00:28:05,000 Speaker 1: you give me a break, I'm a person of color, 523 00:28:05,000 --> 00:28:07,399 Speaker 1: I guess what you're gonna win. Two. That means that 524 00:28:07,640 --> 00:28:10,240 Speaker 1: it means that I'm pursuing the same dream. I'm paying 525 00:28:10,240 --> 00:28:12,160 Speaker 1: the same taxes, I'm going to work, and I'm putting 526 00:28:12,160 --> 00:28:13,879 Speaker 1: forth the same effort that you want to put to 527 00:28:14,000 --> 00:28:17,000 Speaker 1: make this country great. If we make this country great together, 528 00:28:17,080 --> 00:28:19,960 Speaker 1: then we all win. And that is what you're trying 529 00:28:20,000 --> 00:28:22,280 Speaker 1: to accomplish, and you are accomplishing. I should put the 530 00:28:22,280 --> 00:28:25,439 Speaker 1: word try in it. Okay, you are accomplishing that. And 531 00:28:25,480 --> 00:28:27,480 Speaker 1: I'm a teammate too, and that's why I wanted to 532 00:28:27,480 --> 00:28:32,159 Speaker 1: bring you on the show. Joseph. That's all. That's all. 533 00:28:31,800 --> 00:28:35,359 Speaker 1: That's let's see what I do. Okay. You know, what 534 00:28:35,440 --> 00:28:38,000 Speaker 1: I realized is that there are two assets in all 535 00:28:38,120 --> 00:28:41,040 Speaker 1: in what I do. That's the real estate asset. But 536 00:28:41,120 --> 00:28:43,880 Speaker 1: the other asset, which is a human asset of the family. Okay, 537 00:28:44,320 --> 00:28:47,840 Speaker 1: it's a very very very important asset in this equation 538 00:28:47,880 --> 00:28:51,960 Speaker 1: because without them you can't do this business. A lot 539 00:28:51,960 --> 00:28:54,800 Speaker 1: of landlords fail to understand that. So what I do 540 00:28:55,000 --> 00:28:58,280 Speaker 1: is I realized that I've got to have happy tenants. 541 00:28:58,400 --> 00:29:00,760 Speaker 1: And all my tenants every other day we're give them 542 00:29:00,760 --> 00:29:06,040 Speaker 1: brupets of flowers. Uh. Every Christmas we give them Christmas presents. 543 00:29:06,080 --> 00:29:08,080 Speaker 1: If the kids get all ways at school, I give 544 00:29:08,120 --> 00:29:11,960 Speaker 1: them fifty dollar certificates. And believe it or not, we 545 00:29:12,040 --> 00:29:18,760 Speaker 1: give our tennis free vacations. Wow. Wow, that's I love 546 00:29:18,800 --> 00:29:21,160 Speaker 1: my tell us. I love this business. They're good families 547 00:29:21,200 --> 00:29:24,520 Speaker 1: out here, despite the stereotypes. They're just yearning for somebody 548 00:29:24,600 --> 00:29:28,080 Speaker 1: to give them an opportunity in a chance. And so 549 00:29:28,160 --> 00:29:30,400 Speaker 1: there are two sides to this thing. Is that you 550 00:29:30,480 --> 00:29:35,000 Speaker 1: can do good, but also you can make money. But 551 00:29:35,080 --> 00:29:38,200 Speaker 1: more importantly, I said, you can leave a legacy and 552 00:29:38,520 --> 00:29:42,680 Speaker 1: uh to your children, your family, and for your community. Well, 553 00:29:42,720 --> 00:29:45,280 Speaker 1: my friend, um, thank you for coming on the show. 554 00:29:45,560 --> 00:29:47,400 Speaker 1: I think I told you early off air. I'm building 555 00:29:47,400 --> 00:29:49,560 Speaker 1: a new studio have I'm gonna have a giant video 556 00:29:49,640 --> 00:29:53,280 Speaker 1: wall because all my interviews are gonna be by video 557 00:29:53,880 --> 00:29:56,800 Speaker 1: starting our next month. So in a lot of December 558 00:29:56,840 --> 00:30:00,120 Speaker 1: says you're at there passing that Christmas presents to your you. 559 00:30:00,320 --> 00:30:03,200 Speaker 1: I'm telling you your renters. I wanted to bring bring 560 00:30:03,200 --> 00:30:05,120 Speaker 1: it back on the show and maybe you bring a 561 00:30:05,200 --> 00:30:07,240 Speaker 1: tenantor to you know, we're zoom them into the call. 562 00:30:07,360 --> 00:30:10,880 Speaker 1: How about that? How about love we invite a couple 563 00:30:10,920 --> 00:30:13,560 Speaker 1: of tenants on and they'll talk about the experience, man, 564 00:30:13,600 --> 00:30:15,120 Speaker 1: because you know that's what I want to do. I 565 00:30:15,160 --> 00:30:16,720 Speaker 1: want to tell your story, man, and your story. This 566 00:30:16,800 --> 00:30:19,120 Speaker 1: is just an introduction into your story. But let's let's 567 00:30:19,120 --> 00:30:20,520 Speaker 1: peel it back a little bit more in the month 568 00:30:20,560 --> 00:30:23,600 Speaker 1: of December and doing a zoom call, bringing a couple 569 00:30:23,600 --> 00:30:26,000 Speaker 1: of more your tenants and uh, just talk about it 570 00:30:26,120 --> 00:30:27,880 Speaker 1: how you've changed your life. Thank you for coming on 571 00:30:27,880 --> 00:30:30,400 Speaker 1: the show. Yeah, if anybody could connect to me, I 572 00:30:30,440 --> 00:30:33,520 Speaker 1: do have a Wealth Wednesdays every Wednesday after my social 573 00:30:33,520 --> 00:30:37,960 Speaker 1: media so they can reach you on Instagram or Facebook, 574 00:30:38,040 --> 00:30:41,200 Speaker 1: d R U d R DR Joe Asma j O 575 00:30:41,360 --> 00:30:44,480 Speaker 1: E S m O. Every Wednesday at seven pm Eastern time. 576 00:30:44,560 --> 00:30:47,000 Speaker 1: I do have what I call the Wealth Wednesdays and 577 00:30:47,120 --> 00:30:49,560 Speaker 1: so they can cheot in and I talked about different 578 00:30:49,560 --> 00:30:54,080 Speaker 1: subjects or pertains to building wealth and generations and uh 579 00:30:54,320 --> 00:30:56,480 Speaker 1: and so forth. So check me out. Well, the good 580 00:30:56,480 --> 00:30:58,600 Speaker 1: thing about that is my news letter goes out on 581 00:30:58,640 --> 00:31:01,800 Speaker 1: Wednesdays morning at nine o'clock in the morning, and so 582 00:31:01,920 --> 00:31:04,120 Speaker 1: I put that in my newsletter. I'll get with my 583 00:31:04,120 --> 00:31:06,800 Speaker 1: team to get a banner and get uh some links 584 00:31:06,840 --> 00:31:09,400 Speaker 1: so we could promote it, okay, And also you might 585 00:31:09,400 --> 00:31:11,440 Speaker 1: see it familiar face. I might drop in and watch you. 586 00:31:11,600 --> 00:31:17,680 Speaker 1: How about that? Hey, hey, hey, hey rochan. I Also, 587 00:31:18,080 --> 00:31:19,760 Speaker 1: I don't know if you've heard this platform called Bigger 588 00:31:19,760 --> 00:31:23,640 Speaker 1: Pockets Bigger Buckets that the world's largest real estate um, 589 00:31:23,760 --> 00:31:26,160 Speaker 1: you know, social media platform. I do have a program 590 00:31:26,200 --> 00:31:29,280 Speaker 1: on that every other Friday. And it's a natural platform. 591 00:31:29,600 --> 00:31:32,480 Speaker 1: So I was welcome the opportunity to maybe one day 592 00:31:32,520 --> 00:31:36,720 Speaker 1: if you're not too busy, well, I would say, based 593 00:31:36,720 --> 00:31:39,680 Speaker 1: on what you do, man, I'll make time. Seriously, what 594 00:31:39,720 --> 00:31:42,800 Speaker 1: you're doing, I love you, dude, because you're doing things 595 00:31:42,840 --> 00:31:44,520 Speaker 1: that I've been doing since I was eighteen, and I 596 00:31:44,560 --> 00:31:46,800 Speaker 1: didn't realize what I was doing with just natural to me. 597 00:31:47,320 --> 00:31:49,920 Speaker 1: And you're doing things in a natural to you and 598 00:31:49,920 --> 00:31:52,680 Speaker 1: and you're not and you're not embarrassed by that you say, Man, 599 00:31:52,680 --> 00:31:54,680 Speaker 1: I'm making money, but I'm also changing lives. I'm also 600 00:31:54,800 --> 00:31:57,800 Speaker 1: leaving legacy. I'm also understanding that you could do this too. Also, 601 00:31:57,840 --> 00:32:00,440 Speaker 1: there's room for other people. I want other people to 602 00:32:00,520 --> 00:32:03,160 Speaker 1: come in because guess what more people means more people 603 00:32:03,280 --> 00:32:06,200 Speaker 1: lives are changed by the same effort, the same mission statement. 604 00:32:06,480 --> 00:32:09,040 Speaker 1: So that's what you chilled my staff. When you need me, 605 00:32:09,400 --> 00:32:11,360 Speaker 1: you tim me those banners, track and promote. You win 606 00:32:11,520 --> 00:32:14,040 Speaker 1: the show, and Joseph, you'll be back on my show 607 00:32:14,120 --> 00:32:16,960 Speaker 1: descen with a couple of your tenants. Okay, yes, sir, 608 00:32:17,440 --> 00:32:22,920 Speaker 1: thank you a wonderful thank you again, and uh I 609 00:32:22,960 --> 00:32:26,000 Speaker 1: can now die in peace. All right. I appreciate your brother. 610 00:32:28,080 --> 00:32:32,560 Speaker 1: Appreciate your brother. Man, you stay safe. Okay. If we 611 00:32:32,640 --> 00:32:35,160 Speaker 1: need more money Making Conversations interviews, please go to money 612 00:32:35,160 --> 00:32:38,520 Speaker 1: Making Conversation dot com. I'm with Sean McDonald. I'm your host.