# THE TRUTH ABOUT BUYING A HOME: IS THE AMERICAN DREAM DEAD?

An episode of [Earn Your Leisure](https://invisiblenetwork.ai/podcast/1450211392), 1 Oct 2026, 1 h 07 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/8dbc4f54-a337-4481-9ef2-b355012b0a3d/c1e4b281-23c3-4d77-b2c9-b4d60118c0af/audio.mp3?utm_source=Podcast&in_playlist=eac4c628-29cb-469a-b5c8-b355012b0a48

Is homeownership still part of the American Dream—or has it become harder than ever for the average person to achieve? LaRese Purnell and Colin Allen join EYL to break down the realities of buying a home, building wealth and why strong relationships can be more valuable than information. They explain how to become attractive to banks, qualify for a mortgage without traditional W-2 income and avoid the mistake of confusing loan approval with true affordability. We also discuss the five people everyone needs on their financial team, why the right attorney can make or break a deal and how poor negotiation can cost you thousands every year. The conversation also explores Gen Z’s financial future, homeownership as a modern civil rights issue, Cleveland’s $15 billion development boom, the 21st Century ROAD to Housing Act and how the next Federal Reserve chair could impact housing affordability across America. #EarnYourLeisure #EYL #Homeownership #RealEstate #WealthBuilding #FinancialLiteracy #GenZ #AmericanDream #PersonalFinance CHAPTERS: 00:00 Banks Aren’t Your Friend 00:21 Down Payment Myths 00:34 Renting vs Owning 00:52 Cash Income and Taxes 01:22 Meet APOA 02:32 How the Tour Started 04:11 Trust Over Information 05:26 Is the Dream Alive 07:18 Silver Rights and Ownership 08:31 Mindset for Tomorrow 11:42 Gen Z Needs Proof 13:10 Action Steps to Buy 15:32 Build Your Homebuying Team 17:51 Referrals and Due Diligence 22:39 Cleveland Real Estate Wave 27:12 Tax Breaks of Homeownership 28:43 SALT and Home Office Deductions 31:04 Retirement Reality Check 32:13 Renting Versus Owning 32:47 Know Your Audience 34:23 Buying Within Budget 35:30 Banks And Buyer Education 39:30 Debt And Student Loans 43:07 Forced Savings And Negotiation 45:24 Cash Income And Mortgages 47:27 Tax Strategy For Gig Workers 53:31 Policy Changes And Housing Supply 01:00:16 Using Equity To Build Wealth 01:01:47 Tour Dates And How To Join 01:03:55 Rates Fed And Final Wrap Subscribe and watch more videos here: https://www.youtube.com/@EarnYourLeisure Join the EYL community for deeper training and a more detailed approach: https://www.eyluniversity.com Join the number one stock club in the world: https://www.ianinvest.com See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: Stop getting excited every time the bank says yes. Bank
[0:02] Speaker 1: is in business to do business and to make money.
[0:05] Speaker 1: The bank is going to give you $ 500, 000, but the
[0:07] Speaker 1: name of the game is not owning. It's about making
[0:10] Speaker 1: sure we get it and we keep it.
[0:11] Speaker 2: I don't have $ 45, 000 for a down payment or I
[0:14] Speaker 2: can't get the loan that I need to get. What's
[0:16] Speaker 2: some actionable steps that the average person can take to
[0:19] Speaker 2: move towards being an owner?
[0:21] Speaker 3: I may not have to get that $ 45, 000 to put
[0:23] Speaker 3: down on a home. Maybe it's only 3%.
[0:26] Speaker 1: No, you don't need $ 45, 000. Do you even understand the
[0:29] Speaker 1: programs that the city you live in offer to you?
[0:31] Speaker 1: Do you understand what a community development corporation is?
[0:34] Speaker 4: What do you say to that faction of the audience
[0:36] Speaker 4: that says.
[0:37] Speaker 3: Well, renting gives me freedom, right?
[0:39] Speaker 4: I don't have to be tied down to a 15-year
[0:41] Speaker 4: or 30-year mortgage.
[0:42] Speaker 3: Why are you paying everything out to your landlord rather
[0:45] Speaker 3: than getting a piece of that back?
[0:46] Speaker 1: You're just buying somebody else's home when you're renting. I
[0:48] Speaker 1: just need you to buy your own. And then if
[0:49] Speaker 1: you don't invest nothing, at least you have that.
[0:52] Speaker 2: For people that they get paid in cash and they
[0:54] Speaker 2: don't report enough money. And then on their tax return,
[0:57] Speaker 2: it's like they made $ 5, 000.
[0:58] Speaker 5: But it's like you try to buy a home. It's
[1:00] Speaker 5: not helpful to you.
[1:01] Speaker 1: You have all kinds of other tax shelters that you
[1:04] Speaker 1: can put in place that have long-term effects that you
[1:07] Speaker 1: can put. Now that bottom line shows a net zero,
[1:10] Speaker 1: but then assets are on the balance sheet. So when
[1:13] Speaker 1: the bank looks at it, they're like, oh no, it's
[1:15] Speaker 1: not there, but it's here. If you die today, would
[1:18] Speaker 1: you leave confusion or clarity?
[1:23] Speaker 5: All right, guys, welcome back. EYL, we have two special guests.
[1:27] Speaker 2: We have Larisse Purnell and Colin Allen from American Property
[1:31] Speaker 2: Owners Alliance, better known as APOA.
[1:36] Speaker 5: Thank you guys for joining us.
[1:37] Speaker 6: Thanks for having us.
[1:38] Speaker 3: Yeah, good to be here.
[1:39] Speaker 6: Glad to be in the city with you, man.
[1:40] Speaker 3: For sure, for sure.
[1:41] Speaker 5: Welcome, welcome, welcome.
[1:43] Speaker 2: We have a lot to talk about, but first, for
[1:46] Speaker 2: people that may not be familiar with American Property Owners Alliance,
[1:50] Speaker 2: can you break down what that actually is?
[1:54] Speaker 1: Sure.
[1:54] Speaker 3: Sure. Yeah, so we're a nonpartisan, nonprofit organization. We were
[1:58] Speaker 3: founded in 2020, kind of the height of the pandemic, right?
[2:02] Speaker 3: Really to protect and promote the ideals of property ownership
[2:05] Speaker 3: and to kind of help people who are still looking
[2:08] Speaker 3: to realize that American dream of owning their own home
[2:11] Speaker 3: achieve those goals. So we do that kind of through
[2:14] Speaker 3: grassroots and grass tops activation on the legislative side, but
[2:18] Speaker 3: also through education in the community. and getting out and
[2:21] Speaker 3: trying to make sure that we can make connections and
[2:23] Speaker 3: convene people and bring everybody together and have these important
[2:26] Speaker 3: conversations of how to get folks into that or onto
[2:30] Speaker 3: that ladder of property ownership.
[2:32] Speaker 4: So how did you two kind of meet to become
[2:37] Speaker 4: partners on this mission together?
[2:40] Speaker 1: So we had a mutual friend, Jerron Smith, out of D.C.
[2:45] Speaker 1: So I'm an accountant. I'm a tax accountant by trade.
[2:48] Speaker 1: And I own an accounting firm right in downtown Cleveland.
[2:52] Speaker 1: We're one of the largest, you know, Black-owned accounting firms
[2:55] Speaker 1: in the state of Ohio. And I travel the country
[2:58] Speaker 1: because of that business, really trying to educate our community
[3:02] Speaker 1: around just ownership and building assets and utilizing tax strategies
[3:06] Speaker 1: in order to do that work. So as I've been
[3:09] Speaker 1: doing this work, it just kind of intersected. Jerron knew
[3:12] Speaker 1: I was out on the road doing some things. I
[3:14] Speaker 1: did a tour throughout about 12 HBCUs. And he said, well,
[3:18] Speaker 1: I got a guy, he has to meet you. I
[3:20] Speaker 1: want you to come to one of our tour dates.
[3:23] Speaker 1: And I came as a speaker. And the rest is
[3:26] Speaker 1: history from there. 14 cities later, thousands of people and
[3:31] Speaker 1: families have been, you know, educated and impacted.
[3:34] Speaker 6: And I think it's been a great relationship.
[3:36] Speaker 2: I don't know.
[3:37] Speaker 6: You know, maybe I just think it's crazy, right?
[3:40] Speaker 3: We were just out here before we got here talking
[3:42] Speaker 3: about like, it's been almost three years that we've been
[3:44] Speaker 3: doing this. And I don't think either of us thought
[3:48] Speaker 3: we would get here. It seems like a while, but
[3:50] Speaker 3: I don't think either one of us thought we would
[3:51] Speaker 3: be making the steps that we are and talking about
[3:53] Speaker 3: expanding the tour and being able to reach as many
[3:56] Speaker 3: people as On the homeownership side, talking about, you know,
[4:00] Speaker 3: how that homeownership fits into having a financial plan, creating
[4:03] Speaker 3: generational wealth for your family. I don't think we thought
[4:06] Speaker 3: we'd be here. I certainly didn't think we'd be here,
[4:09] Speaker 3: you know, when we started this thing three years ago.
[4:10] Speaker 5: Absolutely.
[4:11] Speaker 2: So as far as the conversations, what information do you
[4:17] Speaker 2: think that people have that they do not have that
[4:21] Speaker 2: you guys are actually giving them as far as the
[4:23] Speaker 2: home buying process and the value of real estate?
[4:26] Speaker 6: It's not about the information.
[4:28] Speaker 1: One thing is you two are, you know, powerful in providing,
[4:32] Speaker 1: you know, access to information on so many platforms across
[4:36] Speaker 1: our country.
[4:37] Speaker 6: And kudos to both of you.
[4:39] Speaker 1: So we know it's not an information issue. It's not
[4:41] Speaker 1: an access issue because of individuals like yourself. It's about
[4:44] Speaker 1: how we deliver it, how we build trust. And I
[4:47] Speaker 1: think that that's what we've been able to employ. Because
[4:50] Speaker 1: one thing about our community, it doesn't change by the
[4:52] Speaker 1: zip code. It really is people are looking for hope.
[4:55] Speaker 1: They're looking for change. They're looking for information that they
[4:58] Speaker 1: believe that can make an impact in their lives. And
[5:01] Speaker 1: I think that's what we bring. Because, again, the IRC
[5:05] Speaker 1: code that I give in Montana is going to hit
[5:08] Speaker 1: the same way it's going to hit in Ohio. That's
[5:10] Speaker 1: going to hit in D.C. So it's not about the information.
[5:12] Speaker 1: I think, again, it's about how we build those relationships.
[5:16] Speaker 1: We bring trusted partners from those communities in and we're
[5:19] Speaker 1: able to get them, you know, where they see that, hey,
[5:22] Speaker 1: this can happen.
[5:23] Speaker 6: This is a reality. And I think that's what really
[5:25] Speaker 6: makes us different.
[5:26] Speaker 4: As you guys travel, I'm interested because, I mean, obviously
[5:29] Speaker 4: we go around and speak as well. From your perspective,
[5:33] Speaker 4: do you think that people still see, especially this new
[5:36] Speaker 4: population or generation, do you think that they see home
[5:39] Speaker 4: ownership as part of their American dream? Obviously, with the
[5:43] Speaker 4: cost of living, the cost of home prices appreciating over time,
[5:47] Speaker 4: interest rates being high. Do you feel that people think, hey,
[5:51] Speaker 4: that's still part of the American dream? Let's go chase that.
[5:54] Speaker 3: I really do. I mean, I think it's borne out
[5:56] Speaker 3: in a lot of the conversations that we have on
[5:58] Speaker 3: the ground. We're out in the field doing public opinion
[6:00] Speaker 3: polling fairly regularly, doing focus groups and kind of doing
[6:04] Speaker 3: outreach generally. And we still see, you know, two thirds,
[6:06] Speaker 3: three quarters of the American people view that homeownership as
[6:10] Speaker 3: part of that American dream. But we're definitely looking at headwinds. Right.
[6:13] Speaker 3: And I think there's a you see the things on
[6:16] Speaker 3: the economic side.
[6:17] Speaker 1: Right.
[6:17] Speaker 3: We've got challenges with interest rates, you know, and inflation
[6:21] Speaker 3: and things like that crowding out. but really, you know,
[6:24] Speaker 3: I think some of the things that we see, what
[6:26] Speaker 3: we're trying to do is make it less intimidating, right?
[6:28] Speaker 3: Like I think a lot of people just don't know
[6:29] Speaker 3: where to start. And I think a lot of what
[6:32] Speaker 3: we do in these events, right, is kind of breaking
[6:36] Speaker 3: it down from a friendly face and somebody who can
[6:40] Speaker 3: make it really digestible and easy to understand, right? And
[6:44] Speaker 3: to say things like, you know, no, you don't have
[6:46] Speaker 3: to have 20% down to buy a house, right? You know,
[6:50] Speaker 3: if you're looking at, You know, kind of the average
[6:53] Speaker 3: value of home right now being, you know, $ 450, 000. If
[6:56] Speaker 3: you got to walk in the door with $ 90, 000 just
[7:00] Speaker 3: to just to start that journey, a lot of people
[7:02] Speaker 3: don't start.
[7:03] Speaker 1: Right.
[7:03] Speaker 3: So I think, again, kind of like Larisse mentioned here,
[7:07] Speaker 3: just kind of getting that starting that dialogue and making
[7:10] Speaker 3: it a little bit less imposing, I think really, really
[7:14] Speaker 3: kind of helps people get there.
[7:18] Speaker 5: Why is wealth building America's new civil rights conversation?
[7:22] Speaker 6: It is Dr.
[7:24] Speaker 1: Jamal Bryant, who's been a big advocate of mine for
[7:28] Speaker 1: a couple of decades now. He says it and he
[7:32] Speaker 1: just did a video for me where he talked about,
[7:35] Speaker 1: it's not about civil rights, but it's about civil rights.
[7:39] Speaker 1: And I know you probably have heard him mention that
[7:41] Speaker 1: on many occasions. But again, when I think about civil rights,
[7:45] Speaker 1: that it was giving us access to when we talk
[7:48] Speaker 1: about having access to schools, neighborhoods, to jobs. I think
[7:53] Speaker 1: civil rights, or as we talk about the new transition
[7:57] Speaker 1: to that, now it's about ownership. That's a new conversation
[8:01] Speaker 1: about what are we going to own? Again, we have
[8:04] Speaker 1: access now, but are we now going to create our
[8:08] Speaker 1: own table? We were trying to gain access to the table.
[8:11] Speaker 1: Now it's about owning that going forward. So again, that's
[8:14] Speaker 1: how I look at that. And that's what we're teaching
[8:17] Speaker 1: as a part of this tour is making sure we
[8:19] Speaker 1: transition the mindset of getting access to making sure that.
[8:23] Speaker 2: So what's the biggest mindset shift that people have to
[8:26] Speaker 2: wrap their heads around to fully understand to achieve that level?
[8:31] Speaker 1: Well, the biggest thing I truly believe as we've been
[8:35] Speaker 1: doing this work for some time now is we have
[8:39] Speaker 1: to shift our mindsets. from today to tomorrow, because tomorrow
[8:44] Speaker 1: is going to happen. And the reality is, you know,
[8:47] Speaker 1: I think about how I grew up, you know, I
[8:49] Speaker 1: grew up where we were just trying to survive. Like today,
[8:52] Speaker 1: we didn't have access at times to a key.
[8:54] Speaker 6: To our own home.
[8:55] Speaker 1: We were living in homeless shelters. We didn't have meal.
[8:58] Speaker 1: We went, you know, to sleep sometime to get rid
[9:00] Speaker 1: of our hunger. So the reality is my mom was
[9:03] Speaker 1: just trying to survive that day. And a lot of
[9:06] Speaker 1: communities that we deal with are doing the same thing.
[9:08] Speaker 1: But we have to start to train our people and
[9:10] Speaker 1: give them the access to information that makes them think
[9:13] Speaker 1: about tomorrow as well. And one of the key questions
[9:15] Speaker 1: that we ask when we do this tour is as
[9:18] Speaker 1: we're talking to individuals are two things is if you
[9:22] Speaker 1: die today, would your family, would you leave confusion or clarity?
[9:29] Speaker 1: Which one would you leave? And so what we have
[9:32] Speaker 1: to do is get the people that we're teaching mad.
[9:35] Speaker 1: The only time you change something in life is when
[9:38] Speaker 1: you get mad, right? And y'all might think, well, okay,
[9:41] Speaker 1: now you kind of talking at them. You getting frustrated
[9:44] Speaker 1: with them. They getting beat up every day in life.
[9:46] Speaker 1: But the reality is sometimes that's the only time we
[9:48] Speaker 1: change stuff. It's like when we had that coat that
[9:51] Speaker 1: we love, that we used to fit two years ago,
[9:53] Speaker 1: that we can't fit today because we gain weight, we
[9:55] Speaker 1: get mad and that's what takes us back.
[9:56] Speaker 5: To the gym, right?
[9:58] Speaker 1: When our account is overdue, because we spent too much
[10:01] Speaker 1: money on all wants and now we can't pay the bills,
[10:04] Speaker 1: guess what?
[10:05] Speaker 6: We get mad and we make change. So again, that's
[10:08] Speaker 6: kind of how we go at it.
[10:09] Speaker 4: So I'm an 80s baby. Shari's an 80s baby. Grew
[10:13] Speaker 4: up in the early 90s. I feel like, I guess
[10:17] Speaker 4: that's millennials.
[10:18] Speaker 3: That would be us.
[10:19] Speaker 1: Yes.
[10:20] Speaker 4: I feel like our parents worked hard. They didn't make
[10:24] Speaker 4: as much money as us, even in our respective careers.
[10:28] Speaker 4: We were doing more with less. Today's day and age,
[10:34] Speaker 4: it feels like they're making more and doing less. Obviously,
[10:39] Speaker 4: inflation plays into part.
[10:42] Speaker 3: Of that story as well, but some of it is mindset.
[10:47] Speaker 4: I wonder how you guys are approaching the outlook of
[10:50] Speaker 4: teaching this next Gen Z, Gen Y, I'm not even
[10:53] Speaker 4: sure what it is, how they can build wealth, right?
[10:56] Speaker 3: Do more with more. That's right. And really, again, I
[11:01] Speaker 3: think it's like kind of leveraging what you've got, right?
[11:04] Speaker 3: And changing that mindset. I think... You know, we're here.
[11:07] Speaker 3: We do what we want to do or we do
[11:10] Speaker 3: what we do because we're kind of thinking forward, looking
[11:13] Speaker 3: for our families. Like, what am I going to do?
[11:15] Speaker 1: Right.
[11:15] Speaker 3: Am I getting in that that mindset of like leaving
[11:17] Speaker 3: a legacy and making sure, you know, that that my
[11:21] Speaker 3: my my kids are like your parents did. Right. Like
[11:24] Speaker 3: that my kids do better than I did at the
[11:27] Speaker 3: end of the day. And I think, you know, really
[11:29] Speaker 3: kind of getting there. Uh, and, and, and helping get
[11:31] Speaker 3: into that mindset. But, you know, as we're, we're looking
[11:33] Speaker 3: to kind of expand what we're doing, I, you know,
[11:35] Speaker 3: maybe Larese, you know, we're, you know, we're, we're, we're
[11:38] Speaker 3: looking to start reaching more directly, I think, to, to
[11:40] Speaker 3: a lot of the younger generation.
[11:42] Speaker 1: And, and if we want to be honest, that that generation,
[11:46] Speaker 1: your generation, no disrespect. is I need to see it.
[11:51] Speaker 1: Like I need to see it. Our parents didn't have
[11:53] Speaker 1: access to one of the most powerful things that we
[11:56] Speaker 1: carry every day that people look at over 300 times
[11:58] Speaker 1: per day on average is that phone. So you didn't
[12:01] Speaker 1: get to see what your cousin in Atlanta was driving.
[12:04] Speaker 1: You didn't get to see what your auntie was living
[12:06] Speaker 1: in in LA at the same time. So again, there
[12:09] Speaker 1: was no comparison. There was no, I'm getting frustrated because
[12:13] Speaker 1: I don't have a big enough house like the rest
[12:15] Speaker 1: of my family. But today, when you get to look
[12:18] Speaker 1: at who's looking to fly us, like I just bought
[12:21] Speaker 1: this new purse, but this girl bought a bigger bag
[12:23] Speaker 1: than me. So I need a bigger bag.
[12:25] Speaker 6: So again, it's that. So you have to.
[12:27] Speaker 1: And what we're shifting to, and I'm really excited to
[12:31] Speaker 1: mention it here today, is that it's no more about
[12:34] Speaker 1: talking about it. Next year, our tour is going to
[12:37] Speaker 1: be called the Activation Tour. You have to show people
[12:40] Speaker 1: the steps. You have to simplify it for them. and
[12:43] Speaker 1: bring it to their table and show them how we
[12:45] Speaker 1: get you there. It's no more, you should own a house.
[12:48] Speaker 1: That's cliche. That's the American dream. How do I get there, Larisse?
[12:52] Speaker 1: How do I look at it? How does it impact
[12:53] Speaker 1: my taxes? How does it impact my savings? How do
[12:56] Speaker 1: I gain equity? How do I leverage that equity? So again,
[12:59] Speaker 1: we're going to activate and make sure that we help
[13:02] Speaker 1: people to get there so that they can see. If
[13:04] Speaker 1: I get it, my cousin can get it. My auntie
[13:07] Speaker 1: can get it. My sister can get it. So that's
[13:09] Speaker 1: where we're going with it.
[13:10] Speaker 2: Can you give us a sneak preview of that? Because
[13:12] Speaker 2: that was going to be my next question as far
[13:13] Speaker 2: as people that say, okay, I understand that you should
[13:15] Speaker 2: buy a home. I understand it's better to own a
[13:17] Speaker 2: home than to rent. I got all that. But I
[13:20] Speaker 2: don't have $ 45, 000 for a down payment, right? Or I
[13:25] Speaker 2: can't get the loan that I need to get. What's
[13:30] Speaker 2: some actionable steps that the average person can take to
[13:33] Speaker 2: move towards being an owner?
[13:36] Speaker 3: Right. So I, you know, one of the things that
[13:37] Speaker 3: we were kind of talking about there is, you know,
[13:40] Speaker 3: we look at like building that network. And one of
[13:42] Speaker 3: the things that we do through the events that we're
[13:44] Speaker 3: hosting here and part of that convening is to bring together,
[13:48] Speaker 3: you know, realtors, mortgage brokers, folks from the banks, financial planners, right? Like,
[13:53] Speaker 3: what is it that I can do and who are
[13:55] Speaker 3: the team and kind of the power of that team
[13:57] Speaker 3: that gets me to the point where, you know, I
[14:00] Speaker 3: may not have to get that $ 45, 000 to put down
[14:03] Speaker 3: on a home. Maybe it's only, you know, three percent or,
[14:06] Speaker 3: you know, am I a veteran? If I'm a veteran,
[14:09] Speaker 3: I get in for no money down. But there are
[14:11] Speaker 3: lots of lots of programs across the country, both both
[14:14] Speaker 3: national and state and local that a lot of people
[14:17] Speaker 3: just aren't aware of.
[14:18] Speaker 1: Right.
[14:18] Speaker 3: So it's being able to say, here's somebody who's either
[14:21] Speaker 3: been in your situation or is familiar with what's going
[14:24] Speaker 3: on here on the ground. And they can guide you
[14:26] Speaker 3: through that process and kind of start that that discussion
[14:30] Speaker 3: there with those folks.
[14:31] Speaker 1: And we have to stop thinking that everybody has the
[14:33] Speaker 1: answers just because we own a home. Stop thinking your
[14:36] Speaker 1: neighbor sitting next to you understands what owning a home
[14:39] Speaker 1: even means. What does that mean? What is that inclusive of?
[14:44] Speaker 1: You know, how does that impact my life? So what
[14:46] Speaker 1: we do as a part of this tour is we
[14:48] Speaker 1: bring partners that simplify the method for them and we
[14:52] Speaker 1: stop making assumptions that everybody sitting there understands the impact
[14:57] Speaker 1: and how that changes their life. So again, when we
[15:00] Speaker 1: talk about down payment, no, you don't need 45,000. Do
[15:03] Speaker 1: you even understand the programs that the city you live
[15:06] Speaker 1: in offer to you? Do you understand what a community
[15:09] Speaker 1: development corporation is? So we bring them to the table.
[15:12] Speaker 1: So they tell you the neighborhoods that are having new
[15:15] Speaker 1: developments that are taking place. If you become a homeowner now,
[15:18] Speaker 1: what the impact will be of that in the next
[15:20] Speaker 1: five years? Are you meeting with the city officials that
[15:22] Speaker 1: talk about and generate opportunities for you to move to
[15:25] Speaker 1: their city and give you grants to buy that first home?
[15:28] Speaker 6: So again, we try to bring resources that change lives.
[15:32] Speaker 2: So who's the people that somebody should talk to as
[15:34] Speaker 2: far as, okay, you should talk to a mortgage broker.
[15:37] Speaker 5: You should talk to a realtor, I would assume.
[15:40] Speaker 1: Yes.
[15:41] Speaker 5: You should talk to somebody that's- Inspector. Can you give
[15:44] Speaker 5: us some- Yeah. So we got something.
[15:45] Speaker 1: I'm going to give that, but then the team is,
[15:47] Speaker 1: because Colin kind of touched on it, is- Five, I
[15:51] Speaker 1: call something to call the power of five. Now, if
[15:54] Speaker 1: you're building any, if you're saying I'm building wealth in
[15:57] Speaker 1: any way, these are the five people. And the key thing,
[16:00] Speaker 1: let me say prefaces before I mention who they are,
[16:03] Speaker 1: is they have to talk to each other as well.
[16:05] Speaker 1: You can't have five powerful people and they're taking you
[16:09] Speaker 1: down five different roads because they're never gonna get you
[16:11] Speaker 1: to the same end goal and it may cost you money.
[16:14] Speaker 1: So those five people are your accountant, shameless plug because
[16:17] Speaker 1: I am one, two, your attorney, your financial advisor, your insurance.
[16:22] Speaker 6: Broker, and your banker.
[16:24] Speaker 5: And a good attorney.
[16:25] Speaker 1: And a good attorney. Now, all five of them should
[16:27] Speaker 1: be good.
[16:28] Speaker 2: Well, because some attorneys might specialize in one area and
[16:32] Speaker 2: not specialize in another area. And I had a situation
[16:34] Speaker 2: where I had a closing attorney, and I guess she's
[16:37] Speaker 2: qualified to be a closing attorney, but I have a
[16:40] Speaker 2: land issue. She didn't do enough due diligence to know
[16:43] Speaker 2: that I had a land issue, but she probably wasn't
[16:46] Speaker 2: used to doing land due diligence.
[16:48] Speaker 3: That's right.
[16:48] Speaker 5: That's right.
[16:49] Speaker 2: Long story short, looking back on it, I needed a
[16:53] Speaker 2: specialized land attorney that actually knew specifics as opposed to
[16:59] Speaker 2: just the title attorney.
[17:00] Speaker 1: So let me say, so let's get into it. So
[17:04] Speaker 1: from that perspective, that's why we call it the connections.
[17:08] Speaker 1: When we come, when we bring you access, it's not
[17:11] Speaker 1: about you going out and creating your own table, but
[17:13] Speaker 1: when you come to our events, we are actually creating
[17:16] Speaker 1: a table for you And we're putting all the partners
[17:19] Speaker 1: that are going to help you get to where you
[17:20] Speaker 1: need to get. So to your point, you're buying that land, right?
[17:23] Speaker 1: You're having the challenges with that land. Well, the city
[17:26] Speaker 1: that you're in, do you think that's the first deal
[17:29] Speaker 1: they did like yours?
[17:31] Speaker 5: No. In most cases.
[17:36] Speaker 6: Most cases it's probably not, right? So y'all, I forgot
[17:40] Speaker 6: how y'all operate. I forgot how y'all operate.
[17:42] Speaker 5: It's a real special situation. But you know, you're right.
[17:44] Speaker 1: Something similar has happened. So what I tell people is,
[17:54] Speaker 1: You are doing something. There's no ideal. That's a new
[17:57] Speaker 1: ideal in most cases. You just haven't met the person
[17:59] Speaker 1: who's done it like you. So the reality of that
[18:01] Speaker 1: city that you're dealing with, guess what? That's not the
[18:04] Speaker 1: first attorney they've worked with. That's not the first attorney
[18:06] Speaker 1: that title company has worked with. Well, if you know
[18:09] Speaker 1: you have that sort of deal, you want to ask
[18:11] Speaker 1: those sort of questions. And they are a resource to you.
[18:14] Speaker 1: Ask them, hey, I'm getting ready to buy this deal.
[18:16] Speaker 1: Is there an attorney that you think I should work with? One,
[18:20] Speaker 1: that helps make the deal easier, right? Because they've worked
[18:22] Speaker 1: with them. They know their work. Their work is proven.
[18:25] Speaker 1: And it could save you some dollars because it's been
[18:28] Speaker 1: done before you. So that would be the advice I
[18:30] Speaker 1: would give to most people. And then any of those
[18:33] Speaker 1: power of five, you should also get referrals. Who has
[18:37] Speaker 1: done and operated at your level, has worked with them,
[18:40] Speaker 1: and what's been the outcomes?
[18:41] Speaker 6: Have they delivered results? Has it been impactful?
[18:44] Speaker 1: So again, and now to the real estate side of it,
[18:47] Speaker 1: you talked about the broker. You talked about your title rep.
[18:51] Speaker 1: You talked about your inspector that should be there to
[18:55] Speaker 1: help you. And those individuals, people get paid to solve problems. Right.
[19:00] Speaker 6: Don't try to be an expert, and AI ain't going
[19:02] Speaker 6: to help you buy no home.
[19:03] Speaker 5: Inspector, that's big. Inspector's big. Oh, for sure.
[19:06] Speaker 1: Because before I buy that house, I want to make
[19:08] Speaker 1: sure the foundation's not getting sucked in.
[19:10] Speaker 5: All those issues.
[19:11] Speaker 6: All those.
[19:11] Speaker 1: And for my investors out there listening, if you've never
[19:15] Speaker 1: invested before, don't you buy a house that's not been inspected.
[19:19] Speaker 1: I don't care how much they tell you. When you
[19:21] Speaker 1: flip this house, you're going to make $ 85, 000 on it.
[19:23] Speaker 1: So I'm going to go ahead and do that, and
[19:25] Speaker 1: it's not been inspected.
[19:26] Speaker 5: With your own inspector.
[19:27] Speaker 6: Your own inspector. Oh, keep speaking.
[19:33] Speaker 4: And if it's really clean, you might want to get
[19:37] Speaker 4: your own independent appraiser.
[19:39] Speaker 3: We've had that work against us as well. That's right.
[19:42] Speaker 1: But one thing you also know with the appraisers now,
[19:45] Speaker 1: the bank has so many regulations now.
[19:47] Speaker 3: The expectations are there and....
[19:50] Speaker 1: They have a criteria that they follow because they're not
[19:52] Speaker 1: in the business to do real estate either. So they
[19:55] Speaker 1: don't want to get stuck with a property that they're
[19:57] Speaker 1: going to lose dollars on anyway. So again, understand the
[20:00] Speaker 1: institutions you work with, but go to them and ask
[20:03] Speaker 1: them who they use. Again, don't reinvent the wheel.
[20:06] Speaker 3: And the process, right? Like, I think this is what
[20:08] Speaker 3: we're trying to help folks with, right? The process doesn't
[20:10] Speaker 3: run itself. Trying to give that information, right, to allow
[20:14] Speaker 3: you to be the quarterback of all of this team, right,
[20:18] Speaker 3: and know what questions to ask and kind of how
[20:21] Speaker 3: to continue the process moving along, right? Again, to your point, Luis, right? Like,
[20:27] Speaker 3: everybody needs to talk to each other, but there needs
[20:28] Speaker 3: to be somebody coordinating what all is going on, and
[20:31] Speaker 3: that's going to be the person in the middle who,
[20:34] Speaker 3: you know, hired these folks.
[20:35] Speaker 2: You actually said something that was insightful that I'm just
[20:37] Speaker 2: actually just registering. It's like, because people... If you're just
[20:40] Speaker 2: buying a home, how do you know who's a lawyer?
[20:42] Speaker 2: So it's like go to the bank and ask for
[20:46] Speaker 2: a referral or go to the town and ask for
[20:48] Speaker 2: a referral.
[20:48] Speaker 3: That's right.
[20:49] Speaker 2: Because usually they're going to give you the person that's
[20:52] Speaker 2: probably done the most cases in that area.
[20:54] Speaker 3: That's right.
[20:55] Speaker 2: Which would probably somebody that would be qualified because even
[20:58] Speaker 2: if you get a good lawyer, they might not be
[21:00] Speaker 2: specialized in that area.
[21:01] Speaker 6: In that area or in that city.
[21:02] Speaker 3: Yeah, they don't know the town.
[21:04] Speaker 1: In that city or you hire an attorney that that
[21:07] Speaker 1: city don't like.
[21:07] Speaker 3: Right.
[21:09] Speaker 1: And they sued that thing five times. And you just
[21:12] Speaker 1: came off a lawsuit and think your deal going through?
[21:15] Speaker 1: Good luck with that. And you don't realize like, why
[21:17] Speaker 1: am I not closing? So again, and I also, and again,
[21:21] Speaker 1: shameless plug, you know, as an account, we don't take
[21:23] Speaker 1: referral fees. We can't legally take referral fees for doing
[21:28] Speaker 1: that business. So, For us, that's why in most cases,
[21:31] Speaker 1: we're the quarterback. And you should be meeting with your
[21:34] Speaker 1: money team, that power of five, at least two times
[21:37] Speaker 1: a year. Because if you're not, guess what? You're not
[21:40] Speaker 1: creating tax shelters. You're not looking at credits or deductions
[21:44] Speaker 1: that impact your life. You're not making sure that you're leveraging.
[21:48] Speaker 1: Because even when you're getting in a contract with that attorney, well,
[21:51] Speaker 1: what's that outcome? What's that going to cost you to
[21:53] Speaker 1: do that? is at a business expense or are you
[21:55] Speaker 1: taking out your personal account and don't realize it should
[21:58] Speaker 1: have ran through the business so even the expenses you're
[22:00] Speaker 1: paying them you know let's make sure we're looking at
[22:02] Speaker 1: the tax advantages on that as well so those are
[22:05] Speaker 1: the sort of things that we're talking about during this
[22:07] Speaker 1: tour and we're letting people ask us questions but we're
[22:11] Speaker 1: also making sure because we know what people just don't
[22:14] Speaker 1: know day to day because we've been doing this long
[22:17] Speaker 1: enough now that we try to bring those resources And
[22:20] Speaker 1: you'll be surprised from Detroit to Memphis to Atlanta, you know,
[22:25] Speaker 1: to Houston, people live in their city and don't even
[22:28] Speaker 1: realize what they're sitting right in the room with every day.
[22:30] Speaker 3: Oh, yeah.
[22:31] Speaker 4: They don't know the local officials. They don't know the municipalities.
[22:33] Speaker 4: They don't know the code. They don't know regulations. They
[22:36] Speaker 4: don't know limitations. All those things you don't know.
[22:39] Speaker 1: And you don't know right now in the city of Cleveland,
[22:42] Speaker 1: $ 15 billion in development is taking place. Well, if you
[22:47] Speaker 1: ain't paying attention to that, then I'm just going to say,
[22:50] Speaker 1: I'm not just shouting out because I.
[22:51] Speaker 6: Know y'all love New York.
[22:52] Speaker 3: I didn't know where to buy it, right?
[22:55] Speaker 1: If you're doing business in this country and you have
[22:57] Speaker 1: not considered Cleveland, I'm telling you right now, you're not
[23:01] Speaker 1: really doing business. and I'm saying that as a guy
[23:03] Speaker 1: who travels this country, $ 15 billion.
[23:06] Speaker 6: So if you're doing real estate, well, guess what?
[23:08] Speaker 1: What is that Brown Stadium, brand new $ 3 billion stadium,
[23:12] Speaker 1: going to do to real estate in the surrounding areas?
[23:14] Speaker 2: We've been here in Cleveland for a long time. I
[23:17] Speaker 2: have a friend beyond winning out there.
[23:18] Speaker 5: Oh, yeah. You know him?
[23:19] Speaker 2: I know Akeem Africa, beyond, like, yeah. So what makes,
[23:23] Speaker 2: because what makes Cleveland... attractive real estate market.
[23:28] Speaker 1: So now let's talk about this. One, when you talk
[23:31] Speaker 1: about water access. So we are a river and a
[23:35] Speaker 1: lake city. So we have a riverfront and a lakefront.
[23:39] Speaker 1: And right now we have an airport on it that
[23:41] Speaker 1: goes almost two to three miles that the mayor is
[23:44] Speaker 1: now trying to get the FFA to approve them to
[23:48] Speaker 1: close that airport. So what that's going to do is
[23:50] Speaker 1: if that happens in the next couple of years, which
[23:53] Speaker 1: we know that's a process, but you better get in
[23:55] Speaker 1: the process now with buying the real estate around it.
[23:57] Speaker 1: Because once the announcement is made, it's too late. And
[24:00] Speaker 1: the reality is that's going to make us the future Chicago.
[24:03] Speaker 1: And y'all like, oh, Lareese, you talking too big right now.
[24:06] Speaker 1: But trust me, We going to see each other in
[24:08] Speaker 1: the airport and passing in about five years. And y'all
[24:11] Speaker 1: going to say, you said it, Larese. It's like I said,
[24:13] Speaker 1: LeBron is coming back, but you get it.
[24:15] Speaker 6: I won't shift the conversation. I won't shift it.
[24:18] Speaker 5: I hope so, man.
[24:19] Speaker 3: We've been to Cleveland.
[24:20] Speaker 1: Yeah.
[24:20] Speaker 4: And, um, it, There needs to be some spice there.
[24:25] Speaker 1: Yeah.
[24:25] Speaker 3: We need it.
[24:26] Speaker 6: But be honest.
[24:28] Speaker 1: We have a professional football team, baseball team, basketball team.
[24:33] Speaker 1: We're getting ready to have a soccer team there. We
[24:35] Speaker 1: have a hockey team for the size city with 400,000 people.
[24:38] Speaker 5: Mayo Clinic. Is that Mayo Clinic?
[24:40] Speaker 1: No.
[24:40] Speaker 5: Oh, man.
[24:41] Speaker 6: Who's going to do that to us? Cleveland Clinic.
[24:43] Speaker 5: Cleveland Clinic.
[24:43] Speaker 6: So I'm actually on the board of the Cleveland Clinic.
[24:45] Speaker 6: So the Cleveland Clinic and you.
[24:46] Speaker 3: Have University Hospital. Put some respect on Cleveland. Put some respect.
[24:49] Speaker 1: On our name no look i can't so they're all
[24:51] Speaker 1: y'all listening i did i made sure i said cleveland
[24:53] Speaker 1: clinic y'all so now cleveland clinic one of the best
[24:56] Speaker 1: hospitals in the world right there so you have a
[24:58] Speaker 1: a health care system that of course we know it's
[25:01] Speaker 1: booming right there they're building that out so right around
[25:05] Speaker 1: that area there's development opportunities lakefront riverfront where the calves
[25:09] Speaker 1: is building a brand new practice facility right on the
[25:11] Speaker 1: riverfront that when lebron comes back you have a new
[25:14] Speaker 1: facility to practice in y'all get it but a lot
[25:17] Speaker 1: of that is taking.
[25:17] Speaker 3: Place That's what Donovan is going to be practicing.
[25:20] Speaker 5: Hey, look.
[25:21] Speaker 6: You know what I'm saying? He is the guy. He
[25:24] Speaker 6: is the guy. Put some respect on that, man.
[25:27] Speaker 5: That's right.
[25:27] Speaker 6: That's right. That's right.
[25:28] Speaker 5: New Chicago. That's interesting. New Chicago, huh? Yeah.
[25:32] Speaker 3: Not according to Yoakim Noah.
[25:34] Speaker 5: Okay.
[25:36] Speaker 3: Oh, man.
[25:37] Speaker 6: So we're going to go here now. So I got
[25:40] Speaker 6: to go. I got to take my glasses off.
[25:42] Speaker 5: That's fighting words.
[25:43] Speaker 3: That's fighting words.
[25:44] Speaker 6: My bad. Shout out to Cleveland, man.
[25:47] Speaker 3: Shout out to Cleveland.
[25:52] Speaker 1: And universities, one of the best schools in the country
[25:55] Speaker 1: in Case Western Reserve. You have Cleveland State, right? Baldwin Wallace,
[25:59] Speaker 1: John Carroll. We can go on healthcare, education. Industry is
[26:03] Speaker 1: coming back. So again, I mean, we're there. And it's
[26:05] Speaker 1: still affordable now. It's affordable.
[26:08] Speaker 3: It's one of the most affordable cities in the country.
[26:11] Speaker 6: But again, not for long.
[26:13] Speaker 5: Guaranteed.
[26:13] Speaker 6: Mark my words on today.
[26:15] Speaker 1: You're going to look a couple years back and you're
[26:17] Speaker 1: going to miss the wave.
[26:19] Speaker 6: And you have to do it.
[26:20] Speaker 1: So as you're buying those homes, since we're talking about
[26:22] Speaker 1: home ownership, when you're buying in that city, show up
[26:26] Speaker 1: to the city council meeting. Find out where they're building
[26:29] Speaker 1: the new development, where they're building a new mall, where
[26:32] Speaker 1: they're building, you know, whatever infrastructures that's going to change.
[26:35] Speaker 1: Where's Intel going? Where's Amazon going? And buy the real
[26:39] Speaker 1: estate in those areas. But again, if you wait for
[26:42] Speaker 1: it to come on Instagram, on TV, you don't bought
[26:44] Speaker 1: it because all the developers already bought it all up.
[26:46] Speaker 1: Now you paying double the price.
[26:48] Speaker 4: We talk about middle America a lot, especially when it
[26:50] Speaker 4: comes to AI, about technology. Obviously, data centers are coming
[26:53] Speaker 4: to middle America because of the land space.
[26:55] Speaker 3: That's a whole other conversation. Yeah, that's a whole other conversation.
[26:57] Speaker 4: But it speaks to the space, having access to water,
[27:01] Speaker 4: all these things are needed. Cleveland is one of those
[27:04] Speaker 4: cities that has been.
[27:05] Speaker 3: Brought up a lot.
[27:06] Speaker 6: That's been on the table a couple of times.
[27:07] Speaker 3: Yeah, yeah, yeah.
[27:08] Speaker 6: And I'm going to stay away from that one because
[27:09] Speaker 6: I want to go back home.
[27:12] Speaker 4: This is important, and you can chime in, Colin, as well.
[27:15] Speaker 3: The tax advantages. When people buy a home.
[27:19] Speaker 4: I think they just think of the cost that the
[27:22] Speaker 4: house is, that they see this listed. They come to
[27:25] Speaker 4: find out property tax, insurance, all these things afterwards. What
[27:31] Speaker 4: are some of the advantages that people are missing when
[27:33] Speaker 4: it comes to home ownership?
[27:36] Speaker 3: Even looking at it as a depreciating asset that you
[27:38] Speaker 3: could write off. Talk about that part that people are
[27:40] Speaker 3: missing that they should be definitely putting in their notes
[27:43] Speaker 3: and studying before and definitely during the home buying process.
[27:48] Speaker 6: So, Kyle, I'm going to let you hit it, then
[27:50] Speaker 6: I'll hit it for you.
[27:52] Speaker 3: Yeah, no, I mean, look, we're sitting here in New York, right?
[27:54] Speaker 3: State and local taxes are a huge deal. You know,
[27:57] Speaker 3: we do a lot of work on the legislative side, too.
[27:59] Speaker 3: And one of the things that we were able to
[28:01] Speaker 3: secure for homeowners last year was a quadrupling of the
[28:05] Speaker 3: state and local tax deduction. So, you know, I think
[28:08] Speaker 3: this is one of the things that, you know, you
[28:09] Speaker 3: kind of go through and you look at it. You know,
[28:12] Speaker 3: while it may be a large bill, it's also something
[28:14] Speaker 3: that you can write off at the end of the day.
[28:16] Speaker 3: The mortgage interest deduction is another piece of it that
[28:18] Speaker 3: if you're itemizing your taxes, you can write down that
[28:20] Speaker 3: piece of your house. And then, you know, you're looking
[28:24] Speaker 3: at the exclusion. When you finally go and sell your home,
[28:28] Speaker 3: if it's your primary home, you're able to write off
[28:30] Speaker 3: up to $ 500, 000 worth of gain on that house. When
[28:34] Speaker 3: you sell it later on, I'm sure has got some
[28:37] Speaker 3: some thoughts from the individual and the rental and the
[28:40] Speaker 3: investment side as well.
[28:41] Speaker 5: Yeah.
[28:42] Speaker 6: So Colin just broke it down. Salt.
[28:44] Speaker 1: A lot of you hear about salt where it went
[28:46] Speaker 1: from ten thousand to forty thousand dollars, taking advantage of
[28:49] Speaker 1: that from explain that. So salt is state and local taxes.
[28:54] Speaker 1: But what that is, is a deduction that you can
[28:57] Speaker 1: take on your property taxes that's inclusive in that. In
[29:00] Speaker 1: prior years, that takes us from what we used to
[29:03] Speaker 1: say itemized versus taking the standard deduction. And everybody on
[29:08] Speaker 1: page two. So if y'all want me to do a
[29:10] Speaker 1: tax return, I'll do that for y'all real quick. But
[29:12] Speaker 1: page two, stop signing that tax return. and not asking
[29:17] Speaker 1: your tax account to actually review and educate you on
[29:20] Speaker 1: what every line means on the first two pages. Because
[29:24] Speaker 1: after that, it's just schedules. On first two pages, you
[29:27] Speaker 1: need to understand how that impacts you. And the name
[29:30] Speaker 1: of the game is to create after-tax wealth and reduce
[29:33] Speaker 1: tax liability. So what we have to do is, from
[29:36] Speaker 1: a home ownership perspective, is understand that now you have
[29:39] Speaker 1: the opportunity. for it to become an item. You can
[29:43] Speaker 1: itemize versus taking the standard. So if I can get
[29:45] Speaker 1: that $ 40, 000 SALT, That really just impacted me right there
[29:50] Speaker 1: where if I took $ 13, 000 or I took $ 26, 000 from
[29:53] Speaker 1: single to married. So now what that does, it brings
[29:56] Speaker 1: down my taxable income so then I can put more
[29:59] Speaker 1: money in my investments. So when we talk about that
[30:03] Speaker 1: from a SALT perspective, We talk about to all my
[30:06] Speaker 1: entrepreneurs that, you know, you guys, you rock with these
[30:09] Speaker 1: guys every year down in Atlanta. If you're there and
[30:12] Speaker 1: you're not maximizing being a homeowner as a business, you
[30:17] Speaker 1: can take the home office deduction. So making sure you're
[30:21] Speaker 1: maximizing that. So you're picking up interest. You're picking up taxes, utilities.
[30:26] Speaker 1: any renovations that happen within your home office. And then
[30:30] Speaker 1: there's other credits depending on the community that you're within
[30:33] Speaker 1: that you can take advantage of. But again, home ownership
[30:36] Speaker 1: is the way to go. And y'all asked the question
[30:39] Speaker 1: when we started off, is that still the American dream?
[30:42] Speaker 1: The reality is we can talk pie in the sky.
[30:45] Speaker 1: Everybody's not going to own a large corporation. Everybody is
[30:49] Speaker 1: not disciplined enough to make sure they maximize their potential
[30:55] Speaker 1: from an investment perspective. They're not going to do mutual funds.
[30:58] Speaker 1: They're not going to do EFTs. They're not going to
[31:00] Speaker 1: do crypto. They're not going to do the 401k plan.
[31:04] Speaker 1: What they say in our community, less than 23% of
[31:07] Speaker 1: people will be ready for retirement. Go in a room.
[31:10] Speaker 1: Every room we go into America, I say, hey, the
[31:13] Speaker 1: first thing we do, from a laughing perspective, we say.
[31:16] Speaker 6: Close your eyes.
[31:17] Speaker 1: Close your eyes and tell me if you could have
[31:20] Speaker 1: all your dumb money back, where would you be?
[31:24] Speaker 6: Man, the room goes crazy. Then we get started.
[31:26] Speaker 1: We get started because people get excited. Then I asked him,
[31:30] Speaker 1: keep your eyes closed. I know the pastor's cheating right now.
[31:32] Speaker 1: He's looking because he wants to see. But I said,
[31:36] Speaker 1: raise your hand if you're ready for retirement or you're
[31:39] Speaker 1: on the right road to retirement. And Colin will tell
[31:42] Speaker 1: you less than one-tenth of the room actually keeps their
[31:44] Speaker 1: hand up. because we don't know. And so home ownership
[31:48] Speaker 1: gives you that asset that most people, because the reality
[31:51] Speaker 1: is you're buying a home, you're just buying somebody else's
[31:53] Speaker 1: home when you're renting. So I just need you to
[31:56] Speaker 1: buy your own. And then if you don't invest nothing,
[31:59] Speaker 1: at least you have that. So you make sure, because
[32:01] Speaker 1: if you buy it in Cleveland, now I'm not saying
[32:03] Speaker 1: I need you to move to Cleveland, but if you
[32:04] Speaker 1: come to Cleveland and you get that house and it appreciates,
[32:07] Speaker 1: because all of this development taking place, now guess what?
[32:09] Speaker 1: You have something to leave a legacy. You're not going
[32:12] Speaker 1: to leave that confusion with some clarity.
[32:14] Speaker 4: What do you say to that faction of the audience
[32:16] Speaker 4: that says, well, renting gives me freedom, right? I don't
[32:20] Speaker 4: have to be tied down to a 15 year or
[32:22] Speaker 4: 30 year mortgage. The opportunity calls for me to try
[32:25] Speaker 4: to get that down payment. I could use it towards investing, right?
[32:29] Speaker 4: We see this at the lowest levels. We see it
[32:32] Speaker 4: at the highest levels, right? The millionaire or the multimillionaire says, hey,
[32:36] Speaker 4: I'm not going to own this home I travel too much.
[32:38] Speaker 3: I'm going to rent this place. I love to have
[32:40] Speaker 3: the yacht. I don't want to own it.
[32:41] Speaker 4: I could rent it. What do you say to that
[32:43] Speaker 4: faction of mindset?
[32:46] Speaker 1: There's levels to this. And you got to understand your audience.
[32:52] Speaker 1: As speakers, let's stop missing the crowd in the moment.
[32:56] Speaker 1: We go in and we just, we come in with this,
[32:59] Speaker 1: you know, already baked out speech we gonna speak to
[33:02] Speaker 1: and we don't even realize who's sitting in front of us.
[33:05] Speaker 1: We don't go into cities and don't understand who's in
[33:07] Speaker 1: the room. We wanna know if half the crowd has
[33:09] Speaker 1: bad credit. We wanna know if nobody's invested. We wanna
[33:12] Speaker 1: know that only 25% in the room are homeowners. So again,
[33:16] Speaker 1: we go in there and we're educated so we can
[33:18] Speaker 1: deliver what they're looking for. And the reality is, again,
[33:22] Speaker 1: what did they say was 60 to 70, almost 60
[33:26] Speaker 1: to like 67 percent of people who make over 100,000
[33:30] Speaker 1: live paycheck to paycheck. So what makes us think that
[33:34] Speaker 1: we see all these posts? Oh, we go invest. Here's
[33:37] Speaker 1: all the investments is all good. That's not the average American.
[33:40] Speaker 1: Who we talking to?
[33:41] Speaker 5: That's a fact.
[33:43] Speaker 3: Right?
[33:43] Speaker 6: Who we talking to?
[33:44] Speaker 1: So again, so what I'm just trying to do, what
[33:46] Speaker 1: Colin is trying to do, what APOA is trying to do,
[33:49] Speaker 1: and all our great partners is make sure we don't
[33:51] Speaker 1: leave out the other one third or two thirds that
[33:55] Speaker 1: aren't going to do what we talking about. So, again,
[33:58] Speaker 1: and I'm not saying you because you just got to
[34:00] Speaker 1: know your audience. And when we go to certain cities,
[34:02] Speaker 1: if we in Boston, we might be talking about, you know,
[34:06] Speaker 1: how we make sure we buy the 16 sweeter or
[34:09] Speaker 1: how we create the development opportunity. But when we in Cleveland, no,
[34:12] Speaker 1: we ain't talking about that because we know where we're
[34:15] Speaker 1: one of the most impoverished cities in America. So that's
[34:17] Speaker 1: not the conversation that should even be had at this point.
[34:19] Speaker 1: We got to make sure they have a plan and
[34:21] Speaker 1: a playbook so we can even get to that point.
[34:23] Speaker 2: How do you educate people on buying a home that
[34:25] Speaker 2: they can afford, not necessarily the home that they want?
[34:28] Speaker 3: Oh, stick to the budget, right? Like I think that's
[34:30] Speaker 3: the number one, what's your budget and what can you
[34:34] Speaker 3: get into?
[34:35] Speaker 5: Right.
[34:35] Speaker 3: And, and don't start off behind the eight ball, right.
[34:39] Speaker 3: By extending yourself more than you're comfortable doing. Um, but no, I, I,
[34:43] Speaker 3: it is a tough, tough conversation. Um, and, and, and
[34:48] Speaker 3: when we're, I think one of those things that we,
[34:49] Speaker 3: we talk about a lot, right. It's kind of the trade-offs, right.
[34:52] Speaker 3: Do you want to live close to your job? Do
[34:53] Speaker 3: you want to live close to the football stadium? Do you,
[34:56] Speaker 3: you know, what is it that impacts the price of
[34:58] Speaker 3: the home that you want? And, and, and what are
[35:00] Speaker 3: the things that you got to look at to get
[35:02] Speaker 3: in there with that budget? I, again, I think it's.
[35:05] Speaker 2: Cause I've seen people do that. Like I used to
[35:07] Speaker 2: be a financial advisor. So I've seen people look what
[35:08] Speaker 2: they did at 401k entirely, put every single dollar they
[35:12] Speaker 2: have into a home, but that's the home that they wanted.
[35:14] Speaker 2: But it's like, Did you ever think about living in
[35:17] Speaker 2: a home that's not as nice or smaller? I think people,
[35:23] Speaker 2: when they have their mindset, I got approved for this much.
[35:26] Speaker 2: I got approved for $ 500, 000. I'm getting a $ 500, 000.
[35:28] Speaker 3: I will buy for.
[35:32] Speaker 5: $ 500, 000.
[35:33] Speaker 1: I'm going to tell you, this is what we teach
[35:35] Speaker 1: when we're out. Stop getting excited every time the bank
[35:38] Speaker 1: says yes. Because the bank, the reality is, The bank
[35:43] Speaker 1: is in business to do.
[35:45] Speaker 6: Business and to make money at all means necessary.
[35:49] Speaker 1: And the reality is sometimes, unfortunately, and we've seen that, unfortunately,
[35:53] Speaker 1: they've not had our best interests as a community in mind.
[35:57] Speaker 1: So the reality is what we have to do is
[35:59] Speaker 1: make sure that, again, that we have a plan. And
[36:03] Speaker 1: that's why when we're doing these seminars and we're out
[36:06] Speaker 1: doing the summit, it's all about education and making sure
[36:09] Speaker 1: that we send educated buyers out. to the bank. So
[36:13] Speaker 1: when they go, they know their credit. Cause it's like
[36:16] Speaker 1: almost like going to buy a car. What's the first
[36:18] Speaker 1: thing they ask us when we go on the car lot?
[36:20] Speaker 1: What's the first question they usually ask? It's so disrespectful
[36:24] Speaker 1: when they ask us, what is it?
[36:25] Speaker 5: What's your budget?
[36:26] Speaker 6: How much you putting down?
[36:28] Speaker 5: Right?
[36:30] Speaker 6: How much you putting down?
[36:31] Speaker 1: Like, how you going to, you don't even, how about
[36:33] Speaker 1: you ask my name first? How about you ask me
[36:36] Speaker 1: what car I like? How about you ask me, did
[36:38] Speaker 1: I do my research? How about you ask me, you know,
[36:41] Speaker 1: do I even know this car, the price of this car?
[36:44] Speaker 6: Have I done my research?
[36:45] Speaker 1: Again, I'm getting people, Colin's getting people, we're getting people
[36:50] Speaker 1: riled up so they can be mad about the situation.
[36:53] Speaker 6: Mad to create success, though.
[36:55] Speaker 1: Not mad when it gets stuck, because the reality is
[36:58] Speaker 1: the bank is going to give you $ 500, 000, but the
[37:00] Speaker 1: name of the game is not owning. This is a
[37:03] Speaker 1: shameless plug. I'm going to do own it, build it,
[37:06] Speaker 1: keep it. Because it's about making sure we get it
[37:09] Speaker 1: and we keep it. You said you were a financial advisor.
[37:12] Speaker 1: We can sell them life insurance, but if they wait
[37:15] Speaker 1: till they get 60 to lose it because it was
[37:17] Speaker 1: too expensive, it was no value on having.
[37:19] Speaker 6: It the last 40 years.
[37:20] Speaker 5: That's a fact.
[37:22] Speaker 6: So we better give them tools to make sure they
[37:23] Speaker 6: keep it.
[37:23] Speaker 2: But you said something like they got to be educated
[37:26] Speaker 2: to go into the business. It's like most people throughout,
[37:31] Speaker 2: buying a home is the biggest purchase that most people
[37:33] Speaker 2: are making their whole time.
[37:34] Speaker 3: Exactly.
[37:35] Speaker 2: And most people have zero education on it. There's no
[37:38] Speaker 2: primary education. There's no high school education, not even college
[37:41] Speaker 2: education for the most part. So you're really going into
[37:43] Speaker 2: the most important, biggest financial decision you'll ever make completely
[37:48] Speaker 2: uninformed at all. So it's like, Oh, the bank gives
[37:51] Speaker 2: me $ 500, 000. That means I should buy a home.
[37:55] Speaker 3: For $ 500, 000.
[37:56] Speaker 1: But it's almost like going and looking at your life
[37:58] Speaker 1: insurance and using a life insurance calculator. Most people don't
[38:01] Speaker 1: know how much life insurance. You hear online, get a
[38:03] Speaker 1: million-dollar life insurance. Well, a million dollars might have been
[38:06] Speaker 1: good for you 10 years ago. But if you.
[38:09] Speaker 6: Got a $ 700, 000.
[38:10] Speaker 1: Home, you got three kids that all need to go
[38:12] Speaker 1: to college. You got a wife that expects you to
[38:15] Speaker 1: make a quarter million dollars a year. You got all
[38:17] Speaker 1: these liabilities and all these expenses. You actually need $ 2 million.
[38:21] Speaker 1: But nobody's doing that calculation until really with the expectation
[38:25] Speaker 1: of outcomes that need to happen. So the reality is
[38:27] Speaker 1: you got a million dollar life insurance, but you got
[38:29] Speaker 1: three million dollars in liabilities. So when you die, they
[38:31] Speaker 1: lose it all anyway. And you worked your whole life
[38:33] Speaker 1: for it. So it's the same thing with this. I'll
[38:36] Speaker 1: tell you what we also did in HBCUs. And I
[38:39] Speaker 1: remember a couple of college presidents saying they were like, hey,
[38:42] Speaker 1: why are you guys going to teach those subjects, Larisse?
[38:45] Speaker 1: We talked about taxes. I went through taxes with these
[38:48] Speaker 1: young people. And at first they were like, you're going
[38:51] Speaker 1: to bore the crap out of them. And then the
[38:54] Speaker 1: next thing I talked about, we talked about on the
[38:56] Speaker 1: tour is negotiation, the art of negotiation. So we got
[39:01] Speaker 1: to teach people the foundational stuff to make sure that
[39:04] Speaker 1: they have as much a disposable income to have margin.
[39:08] Speaker 6: That's the name of the game is margin. Like we
[39:11] Speaker 6: got to have.
[39:11] Speaker 1: More money than we have bills, right? And I don't
[39:14] Speaker 1: want nobody being house poor. We don't want anybody being
[39:18] Speaker 1: where you have a house, but you can't invest. You
[39:21] Speaker 1: can't grow. You can't travel. We got enough people on
[39:26] Speaker 1: planes with no plans. Like, so what are we going
[39:28] Speaker 1: to keep doing, y'all?
[39:30] Speaker 4: I wonder as you guys go across the country and
[39:33] Speaker 4: you're speaking to people, what's the common theme in terms
[39:37] Speaker 4: of financial struggle, right? Is it, like you said, you're
[39:40] Speaker 4: speaking to college students. Is it student loan debt? Is
[39:43] Speaker 4: it credit cards? Is it auto loan? Like what's the
[39:46] Speaker 4: common theme that you're continuously seeing city after city?
[39:50] Speaker 3: I mean, I feel like we hear a little bit
[39:51] Speaker 3: of everything, right? Especially with the folks just out of school,
[39:55] Speaker 3: I think there's a big concern with student loan debt.
[39:59] Speaker 3: Cost of college continues to go up, and wages have
[40:03] Speaker 3: not been keeping pace with it, right? I feel like
[40:06] Speaker 3: we get a little bit of credit card. especially if
[40:08] Speaker 3: you talk to like, you know, older folks, even some
[40:11] Speaker 3: of the older folks, I think our student loan debt
[40:14] Speaker 3: comes up. But yeah, I feel like it's a little
[40:15] Speaker 3: bit of everything or, you know, hey, I bought a
[40:18] Speaker 3: house or I, you know, got in trouble with the
[40:20] Speaker 3: car and, you know, I've got, you know, kind of
[40:21] Speaker 3: dinged up credit now. It seems to be just a
[40:25] Speaker 3: little bit of a lot of things.
[40:28] Speaker 1: But I'll say to that point, to piggyback on Colin
[40:31] Speaker 1: is on the student loan side, it's like, you know,
[40:35] Speaker 1: they feel like You know, I'm getting ready to graduate
[40:38] Speaker 1: and I'm seventy five thousand, one hundred thousand in debt. Like,
[40:44] Speaker 1: why should I take on a house that's going to
[40:46] Speaker 1: be three hundred thousand? I'm four hundred thousand dollars in
[40:49] Speaker 1: debt and I'm only twenty three years old or twenty forty.
[40:52] Speaker 6: Where does that make sense?
[40:54] Speaker 1: And I don't even make one hundred thousand dollars a year,
[40:56] Speaker 1: but I already owe four hundred thousand dollars. I can't
[40:59] Speaker 1: see the light at the end of the tunnel. And
[41:01] Speaker 1: so what we're finding out is that's why, guys, this is,
[41:05] Speaker 1: like we said, it's levels to this. We have to
[41:08] Speaker 1: have different iterations. So when we go to churches around
[41:11] Speaker 1: the country, we have a young area. We attract college
[41:15] Speaker 1: students and then we have families. Because we have to
[41:18] Speaker 1: teach young kids. And as we all are doing the
[41:22] Speaker 1: work and we're saying we're responsible for our communities, we
[41:25] Speaker 1: got to teach young people how not to go in
[41:27] Speaker 1: debt when they go to college. And y'all say, well, Larisse,
[41:31] Speaker 1: that sounds good. How do you do that? Well, how
[41:33] Speaker 1: many high schools? We're helping kids get to school. We're
[41:36] Speaker 1: helping kids get educated. But how many people are doing
[41:40] Speaker 1: like camps on just filling out scholarships? on looking how
[41:44] Speaker 1: to research, using AI to find all the grants and
[41:47] Speaker 1: scholarships that go for my industry that nobody's tapping into.
[41:51] Speaker 1: So when I go there, that should be the celebration
[41:54] Speaker 1: at graduation that there's $ 100 million in grants and scholarships
[41:59] Speaker 1: going out this for all these thousand kids that are graduating.
[42:02] Speaker 1: So we make sure we set them up to be
[42:04] Speaker 1: future homeowners. So again, it's iterations to it and making
[42:08] Speaker 1: sure we address it at different levels based on the
[42:10] Speaker 1: crowd that we're talking to.
[42:11] Speaker 4: It feels like it goes back to the first question
[42:13] Speaker 4: of why do we not see this as the American dream?
[42:16] Speaker 3: Because I'm watching kids that are going to school, they're
[42:19] Speaker 3: going into debt.
[42:21] Speaker 4: The first thing, the thing is I got to get
[42:22] Speaker 4: a job to pay back that student loan debt. They
[42:24] Speaker 4: can't even get to the point where it's a house.
[42:26] Speaker 4: Then they don't pay it back. They take out loans,
[42:28] Speaker 4: credit card.
[42:29] Speaker 3: Now that right.
[42:30] Speaker 4: Their interest rates are going to be higher because their
[42:32] Speaker 4: credit score is lower. And so it feels like, can
[42:34] Speaker 4: they even get to the idea of having the home,
[42:38] Speaker 4: let alone the other side? Like you said, there are
[42:40] Speaker 4: levels to it, right? Now imagine your parents are renters.
[42:45] Speaker 4: We talk about eggshells.
[42:46] Speaker 6: That's right.
[42:47] Speaker 4: If they lose the apartment and you're living with mom
[42:49] Speaker 4: after you came home from school and there's no way
[42:51] Speaker 4: to go, now what? So there's a lot of pieces here,
[42:56] Speaker 4: which makes me think our Gen Z, Gen X is
[43:01] Speaker 4: home ownership.
[43:02] Speaker 3: At the forefront when there's so much debt. I'm glad
[43:04] Speaker 3: you brought that up.
[43:05] Speaker 6: But to that, go ahead, Colin.
[43:06] Speaker 3: No, and that's what I was going to say. It's
[43:07] Speaker 3: one of these things, right, where we're kind of circling
[43:10] Speaker 3: back to that piece of it. You know, it's the
[43:13] Speaker 3: forced savings piece of owning a home, right? If you're
[43:15] Speaker 3: going to pay your rent or your mortgage, why are
[43:18] Speaker 3: you paying everything out to your landlord rather than getting
[43:20] Speaker 3: a piece of that back, right? You know, and I
[43:22] Speaker 3: think this is the big benefit to, you know, kind
[43:26] Speaker 3: of the average American, right, is, you know, Maybe I'm
[43:28] Speaker 3: not a sophisticated investor. Maybe I'm not doing rental properties.
[43:31] Speaker 3: Maybe I'm not contributing my 401k. But if I'm paying
[43:34] Speaker 3: that monthly housing payment every month and I own that
[43:37] Speaker 3: home and I'm paying that mortgage, right? Like I'm getting
[43:40] Speaker 3: a little bit of that back each time I pay
[43:42] Speaker 3: my my mortgage and, and I, you know, should walk
[43:45] Speaker 3: out of that property at the end of the day, uh, with,
[43:48] Speaker 3: with that money that I saved, uh, you know, and
[43:51] Speaker 3: maybe I don't have to think about taking five or 10%
[43:53] Speaker 3: off at the beginning of each month, uh, to, to
[43:56] Speaker 3: put into an investment or put into a savings account.
[43:57] Speaker 1: Yeah. But even to that, it goes back to those
[44:00] Speaker 1: subjects we talked about negotiation. Like it's real power in
[44:04] Speaker 1: that y'all like people don't talk about that enough. If
[44:07] Speaker 1: just think about how many college kids ask some of
[44:09] Speaker 1: your friends, them, you know, and all y'all out there listening, um,
[44:13] Speaker 1: How many contracts have y'all taken the first time the
[44:16] Speaker 1: job offered you out of college? The first thing they
[44:18] Speaker 1: sent you, you were so happy to get that job
[44:20] Speaker 1: that you accepted the first thing.
[44:21] Speaker 3: They gave you.
[44:22] Speaker 1: Until I realized I had this young guy that was
[44:26] Speaker 1: sitting next to me at a desk when I graduated college.
[44:28] Speaker 1: We had the same job, the same degree. I actually
[44:31] Speaker 1: had a higher GPA than him and he made $ 18, 000
[44:34] Speaker 1: more than me because somebody told him that he should
[44:38] Speaker 1: ask for more. He had a week and a half
[44:41] Speaker 1: vacation more than me and made $ 18, 000 more than me
[44:45] Speaker 1: and had more benefits than I received because nobody taught
[44:48] Speaker 1: me that I could have a conversation. $ 18, 000, let's break
[44:52] Speaker 1: that down. That's $ 1, 500 a month. And for the average
[44:55] Speaker 1: young kid for where they're living, that pays for the mortgage.
[44:58] Speaker 6: So there's value in that.
[45:00] Speaker 1: It's value in teaching them their taxes so they understand
[45:03] Speaker 1: if I put into the 401k before I create the liabilities,
[45:06] Speaker 1: before I get married and have the kids, that I
[45:09] Speaker 1: can then offset my taxable income by maximizing what the
[45:13] Speaker 1: company's already giving me to bring down and I have
[45:15] Speaker 1: more income hitting my bottom line to put into that property.
[45:18] Speaker 1: So there's ways to create and generate and pay that cost,
[45:22] Speaker 1: but we got to have strategies to it.
[45:25] Speaker 2: For people, tax question, like for people that So like barbers,
[45:30] Speaker 2: hair salon, they get paid in cash and they don't
[45:33] Speaker 2: report enough money. And then on their tax return, it's
[45:36] Speaker 2: like they made $ 5, 000 or even business owners that try
[45:38] Speaker 2: to write off every single thing. And then they make $ 15, 000.
[45:42] Speaker 2: But it's like when you try to buy a home,
[45:45] Speaker 2: making $ 15, 000 is not helpful to you.
[45:46] Speaker 3: Yeah.
[45:50] Speaker 5: What's your commentary?
[45:51] Speaker 3: I feel like we hear this one a lot right now, right?
[45:54] Speaker 3: Looking at the gig economy and everything that's going on
[45:57] Speaker 3: right now, especially people maybe not working a W-2 job, right?
[46:00] Speaker 3: Where you're getting paid by an employer. We're seeing this
[46:03] Speaker 3: a ton, right? And a lot of it is going
[46:04] Speaker 3: to be, you know, you got to document two years
[46:07] Speaker 3: of your income and things like that. Really finding that,
[46:12] Speaker 3: and this is why we're trying to bring together, you know,
[46:15] Speaker 3: knowledgeable experts on this. It's finding a lender who's really
[46:18] Speaker 3: experienced in non-traditional income. I mean, I think some really
[46:24] Speaker 3: interesting things could become in, you know, as we're talking about,
[46:27] Speaker 3: you know, AI and data centers and stuff like that,
[46:29] Speaker 3: cashflow underwriting, if they're able to apply that with AI to,
[46:33] Speaker 3: you know, say, we want to see six months of
[46:36] Speaker 3: your ability to pay your own bills, right? It may
[46:40] Speaker 3: be easier to underwrite those kind of mortgages here in
[46:43] Speaker 3: the next, frankly, few months as that technology is evolving.
[46:47] Speaker 3: But yeah, no, this is one that we hear. I
[46:49] Speaker 3: feel like we've heard this more and more each time
[46:54] Speaker 3: that we're out there and trying to help people and
[46:55] Speaker 3: get folks together with the.
[46:57] Speaker 5: Right- So what's, you say cash flow underwriting?
[47:01] Speaker 3: So cashflow underwriting rather than going to the bank.
[47:05] Speaker 5: W-2 underwriting.
[47:06] Speaker 3: Yeah, than saying, here's kind of my book, right?
[47:08] Speaker 2: So cashflow underwriting, they'd look at your bank account and
[47:10] Speaker 2: see how much money is coming in.
[47:11] Speaker 3: What's going in, what's going out, and what's left over
[47:14] Speaker 3: at the end of the day. And theoretically, right, AI
[47:17] Speaker 3: could make this much easier.
[47:19] Speaker 1: Yeah. So I'm going to say this, and you keep
[47:23] Speaker 1: making my glasses fall every time you ask me these questions.
[47:27] Speaker 1: So my wife is a 18-year veteran As a stylist
[47:31] Speaker 1: and runs, you know, one of the largest, you know,
[47:34] Speaker 1: you know, salons in the city of Cleveland. And I'm
[47:37] Speaker 1: going to tell you now, that's an industry when I
[47:40] Speaker 1: first started my career, I really tapped into because the
[47:44] Speaker 1: reality is, is like most things, you know, we don't
[47:46] Speaker 1: believe in it because we can't see it.
[47:49] Speaker 6: We don't see the results.
[47:50] Speaker 1: So it's like, why should I show profit and I
[47:53] Speaker 1: still can't get because the bank is denying me because
[47:55] Speaker 1: I didn't set it up right.
[47:57] Speaker 6: Like, Larissa, I can't go buy the home. I've been
[48:00] Speaker 6: paying taxes and I don't.
[48:02] Speaker 1: Let me first kind of tell you guys, now I
[48:03] Speaker 1: got to put my account hat on and tell you,
[48:06] Speaker 1: you know, everybody's stuck on the profit and loss statement.
[48:11] Speaker 6: Well, let's start talking about the balance sheet statement.
[48:13] Speaker 1: So we just need, like I could teach a whole
[48:15] Speaker 1: class on this, is showing people that you don't have
[48:19] Speaker 1: to show a profit on the bottom line of the
[48:22] Speaker 1: statement or your profit and loss for the bank to
[48:25] Speaker 1: see that you're an opportunity and they'll lend to you.
[48:28] Speaker 1: It's making sure you create shelters on the balance sheet
[48:31] Speaker 1: that creates assets that they'll lend against. This is powerful
[48:35] Speaker 1: of showing profit on your actual statement of loss.
[48:38] Speaker 6: I mean, excuse me, on your....
[48:40] Speaker 1: Profit and loss so what i've been doing is teaching
[48:43] Speaker 1: as we've been you know doing this tour is teaching
[48:46] Speaker 1: barbers um stylists on hey you don't have to yes
[48:51] Speaker 1: you made eighty thousand dollars this year and they're like
[48:54] Speaker 1: well lorise like i'm gonna have to pay you know
[48:56] Speaker 1: almost twenty thousand dollars and let's be honest i'm living
[49:00] Speaker 1: style to style every time the guy comes in and
[49:02] Speaker 1: sell me the tv guess what i'm using that cash
[49:05] Speaker 1: on that if we talking real we talking real here
[49:07] Speaker 1: right let's do So let's talk, right? So if somebody
[49:09] Speaker 1: come in there and sell me some stuff for my salon,
[49:12] Speaker 1: I'm buying that. So again, I'm moving on. I'm going
[49:15] Speaker 1: from hairstyle, from cut to cut, from hairstyle to hairstyle.
[49:19] Speaker 1: So how can... I show them the advantage of that?
[49:21] Speaker 1: So what we've been doing is teaching them that, yes,
[49:24] Speaker 1: you're going to see 80,000 on the bottom line, but
[49:26] Speaker 1: guess what? There's accounts you as a financial advisor know
[49:30] Speaker 1: cash balance accounts. You have corporate life insurance. You have
[49:34] Speaker 1: all kind of other tax shelters that you can put
[49:36] Speaker 1: in place that have long term effects that you can put.
[49:40] Speaker 1: Now that bottom line shows a net zero, but then
[49:44] Speaker 1: assets are on the balance sheet. So when the bank
[49:46] Speaker 1: looks at it, they're like, oh, no, it's not there,
[49:48] Speaker 1: but it's here. So it's still the same benefits to it,
[49:51] Speaker 1: but there's tax advantages to doing it that way. So
[49:54] Speaker 1: then now I'm not only thinking about today and that home,
[49:56] Speaker 1: but I'm also thinking about dually my home ownership and
[50:00] Speaker 1: my investable retirement as well. Because at some point, that
[50:03] Speaker 1: carpal tunnel is going to get to you. those feet
[50:06] Speaker 1: gonna start to hurt. My wife, shout out to her.
[50:09] Speaker 1: If I rub another foot, like I'm telling you guys now,
[50:12] Speaker 1: I'm the most rubbing foot account in America because of
[50:15] Speaker 1: what she does. But honestly, you got to set yourself
[50:18] Speaker 1: up for tomorrow. So we do see a lot of
[50:20] Speaker 1: that and we just have to show them how to
[50:22] Speaker 1: make that work.
[50:24] Speaker 2: So it's- That's good information because like you said, it's
[50:26] Speaker 2: not sometimes, it's, well, A, public service announcement.
[50:31] Speaker 5: You should always report the amount of money that you make.
[50:33] Speaker 6: Absolutely.
[50:34] Speaker 5: Every penny of it.
[50:34] Speaker 4: Yep.
[50:35] Speaker 5: 100%.
[50:37] Speaker 3: Every year. Yes.
[50:38] Speaker 1: Yes.
[50:38] Speaker 5: No exceptions.
[50:39] Speaker 3: You too.
[50:39] Speaker 2: But like you said, just because you're showing all this
[50:43] Speaker 2: money doesn't necessarily mean that you have to pay taxes
[50:45] Speaker 2: on all of that money. Now you start to do
[50:48] Speaker 2: the smarter things with your money to get the tax deductions.
[50:52] Speaker 6: That's right. That's right.
[50:54] Speaker 1: And again, that goes back to the power of five.
[50:58] Speaker 1: It's the reason we gave you those. You need them all.
[51:00] Speaker 6: You don't need one of them.
[51:01] Speaker 3: The code is.
[51:02] Speaker 5: Written to benefit small business. But you got to be organized.
[51:03] Speaker 6: You got to be organized. No, say that again, Colin,
[51:05] Speaker 6: because I think if that missed you, if you were
[51:07] Speaker 6: driving and you didn't hear that.
[51:09] Speaker 3: Yeah, the tax code is written to benefit small business.
[51:12] Speaker 3: And this is back to your power of five, right?
[51:14] Speaker 3: Make sure you're talking to somebody who knows what they're doing.
[51:16] Speaker 5: But then also make sure you're organized.
[51:17] Speaker 2: Because like I said, a lot of these people, when
[51:19] Speaker 2: you're getting cash fast, you spend it fast also. And
[51:22] Speaker 2: like you said, it's just little stuff and it's like,
[51:24] Speaker 2: I think a lot of people in these industries are
[51:26] Speaker 2: not organized. So at the end of the year, they
[51:28] Speaker 2: might've made a hundred thousand, but it's like, I don't
[51:30] Speaker 2: have any money at all. I don't even have enough
[51:32] Speaker 2: money to put into an IRA. But if it's like,
[51:34] Speaker 2: if you would did it every single week, okay, every
[51:36] Speaker 2: week we're going to put this, if it's organized, it's
[51:38] Speaker 2: easier as opposed to just saying, okay, I'm going to
[51:41] Speaker 2: set all this stuff up. And then, cause it's, where'd
[51:43] Speaker 2: the money go still, right? So it's like that organizational part.
[51:47] Speaker 3: Don't try to be your own expert.
[51:50] Speaker 1: So when you, as we're doing this production right now,
[51:53] Speaker 1: you didn't let your mechanic do the sound.
[51:54] Speaker 3: Did you?
[51:56] Speaker 1: No.
[51:56] Speaker 5: You didn't, right?
[51:57] Speaker 1: No. Why didn't you?
[51:58] Speaker 3: He's not trained.
[51:59] Speaker 1: He's not trained to do that. So why you as
[52:02] Speaker 1: a stylist think like, what's that meme on social media?
[52:05] Speaker 6: You were wearing 10 hats. I'm the marketer. I'm the HR.
[52:08] Speaker 5: I'm this.
[52:09] Speaker 6: I'm this.
[52:10] Speaker 1: Either you're going to pay now or you're going to
[52:12] Speaker 1: pay later. But I guarantee you, you're going to pay.
[52:14] Speaker 1: So the reality is hire an expert because they're going
[52:17] Speaker 1: to save you time. They're going to save you cost
[52:20] Speaker 1: because people are like, Larissa, I can't afford to have
[52:22] Speaker 1: you as an accountant. But the reality is, well, you
[52:25] Speaker 1: can't afford not to have me. I'm the toilet paper
[52:27] Speaker 1: of the business. The reality is it can't. And y'all
[52:30] Speaker 1: like toilet paper. That was a bad analogy, Larisse. But
[52:34] Speaker 1: it's necessary, right?
[52:35] Speaker 6: Y'all get it.
[52:35] Speaker 5: Y'all know what I mean. It's a mess without it.
[52:39] Speaker 5: I know that one.
[52:40] Speaker 6: I'm using that now. I'm getting credit the first time.
[52:43] Speaker 6: I'm using that one.
[52:45] Speaker 1: I'm telling you, but no, honestly, but, but we, we
[52:48] Speaker 1: got to stop thinking that we need to be the
[52:50] Speaker 1: experts at everything. And you're, my wife is cold blooded
[52:54] Speaker 1: when it comes from behind that chair with those shares.
[52:56] Speaker 1: But the reality is you ask her about our money
[52:59] Speaker 1: until we got married. She said, I just didn't know
[53:01] Speaker 1: what to do. I didn't trust anybody. Like, you know,
[53:05] Speaker 1: I mean, trauma, we can get into trauma, all that
[53:07] Speaker 1: sort of stuff, childhood issues and all that.
[53:10] Speaker 6: Why I don't talk.
[53:11] Speaker 1: You know, about that culture and this, all that. I
[53:14] Speaker 1: like to look fly all the time because I'm in
[53:16] Speaker 1: an industry that's lifestyle driven. So I need my cash
[53:19] Speaker 1: so I can keep and buy the latest fashions so
[53:21] Speaker 1: I can't put it in an investment because I won't
[53:23] Speaker 1: stay relevant.
[53:24] Speaker 6: We can keep going and going.
[53:26] Speaker 4: Sounds nice. You're really living it, my brother. That sounds
[53:31] Speaker 4: pretty accurate. Colin, you have a unique perspective. You worked
[53:34] Speaker 4: inside the U.S. Senate, correct?
[53:36] Speaker 5: I did.
[53:37] Speaker 4: So, That's interesting because now you're advocating for home ownership
[53:41] Speaker 4: for the everyday person.
[53:42] Speaker 3: I wonder, your time there, what did you see?
[53:45] Speaker 4: Or was there something that triggered you to say, you
[53:48] Speaker 4: know what, I see what policy is doing.
[53:51] Speaker 3: I understand how it can change. I need to go
[53:55] Speaker 3: step aside and do this.
[53:58] Speaker 5: So, yes.
[53:59] Speaker 3: Yes. But, you know, kind of being in there and
[54:02] Speaker 3: literally watching and being involved in some of the writing
[54:06] Speaker 3: of the tax code and the benefits that are there
[54:09] Speaker 3: for homeownership, for investment property, things like that, right? It's
[54:14] Speaker 3: great to see that and then to step out. But
[54:17] Speaker 3: I think the real thing that drives me and why
[54:19] Speaker 3: I stepped out and said, you know, hey, I want
[54:21] Speaker 3: to get into, you know, homeownership and creating generational wealth and,
[54:27] Speaker 3: you know, kind of having these assets that benefit people
[54:29] Speaker 3: long term. right, it is that, like, this is how
[54:34] Speaker 3: the majority of Americans save for their, you know, for
[54:38] Speaker 3: their families, for retirement. I mean, that's what really, you know,
[54:41] Speaker 3: kind of drives me on that front, was able to
[54:44] Speaker 3: kind of see how things are set up for, you know,
[54:46] Speaker 3: to benefit small business, how things are set up to
[54:50] Speaker 3: benefit homeownership. And again, with all that stuff that's there,
[54:53] Speaker 3: I really want, you know, everybody who is able to,
[54:56] Speaker 3: to be able to take advantage of those things and
[54:58] Speaker 3: and both have a place to live and be able
[55:02] Speaker 3: to benefit financially from owning that home.
[55:05] Speaker 4: Do you see something coming down the pipeline in terms
[55:08] Speaker 4: of policy that could shape the way The future looks
[55:13] Speaker 4: in terms of homeownership.
[55:14] Speaker 3: Yeah, I think so. We just just this past weekend
[55:17] Speaker 3: had the 21st Century Road to Housing Act became law.
[55:21] Speaker 3: It was passed by Congress a couple of weeks ago
[55:23] Speaker 3: and went into law over overnight on Saturday. So I
[55:28] Speaker 3: think there's several things in there, especially on the affordable
[55:31] Speaker 3: housing side. Right. We're looking at changes to the way
[55:35] Speaker 3: we could do manufactured housing and small dollar loans, I think,
[55:38] Speaker 3: are two things that could make a huge impact immediately. Right.
[55:43] Speaker 3: These are, you know, manufactured housing. Great opportunity for somebody
[55:47] Speaker 3: who's maybe a first time buyer and looking for a
[55:49] Speaker 3: lower cost alternative to like a stick built house.
[55:53] Speaker 1: Right.
[55:54] Speaker 3: And then on the small dollar loans, right, you know,
[55:57] Speaker 3: you don't see banks or mortgage brokers or anybody like
[56:01] Speaker 3: writing small dollar loans a lot of times because the
[56:05] Speaker 3: fees and things that are associated with all those are
[56:08] Speaker 3: they're fixed.
[56:09] Speaker 5: Right.
[56:09] Speaker 3: So like what you have, it doesn't cost any more
[56:12] Speaker 3: to originate a four hundred thousand dollar mortgage than it
[56:14] Speaker 3: does to originate an eighty thousand dollar mortgage. But because
[56:18] Speaker 3: those fees are high, the banks won't originate an eighty
[56:21] Speaker 3: thousand dollar mortgage because it's considered predatory. because of the
[56:25] Speaker 3: fees that go into originating it. So I think some
[56:28] Speaker 3: creative options around that could really help streamline permitting, right?
[56:32] Speaker 3: Like where we are, we're just... Can you say that again?
[56:35] Speaker 3: The permitting process in America? Oh, yeah. I mean, looking
[56:41] Speaker 3: at this, right? Like, you know, here we are, you know,
[56:45] Speaker 3: red tape, right? You know, you talk to folks across
[56:47] Speaker 3: the country. I'm, you know, that's one of the things,
[56:50] Speaker 3: probably like a 99% issue, right? Can we cut red
[56:52] Speaker 3: tape and make it easier to do things? We're 6
[56:55] Speaker 3: million homes short of current demand, right? Which is one
[56:59] Speaker 3: of the things that's driving home prices up. If we
[57:02] Speaker 3: could just build more in the places that people want
[57:05] Speaker 3: to live at a price they can afford, it would
[57:08] Speaker 3: solve a huge, huge amount of that problem. And I
[57:11] Speaker 3: think Some of the permitting reforms and regulatory streamlining that
[57:15] Speaker 3: are in this bill should make it much easier over
[57:17] Speaker 3: the next few years. That's on my wish list.
[57:19] Speaker 4: When they ask, what do you hope that AI can
[57:21] Speaker 4: help make more convenient, more efficient?
[57:25] Speaker 3: I say the permitting process. The permitting process, right?
[57:28] Speaker 4: Why am I waiting eight weeks for you to look
[57:30] Speaker 4: at a paper that you could just look at in
[57:33] Speaker 4: 10 minutes and say yes or no?
[57:36] Speaker 3: And then we can go back to the drawing board.
[57:37] Speaker 3: I'm going to wait eight weeks. You say no. I
[57:39] Speaker 3: got to wait another eight weeks. We're losing time that
[57:42] Speaker 3: we can't get back. That you can't get back. And
[57:44] Speaker 3: things obviously need to be built. And if you are
[57:46] Speaker 3: a small builder, especially, right? Like, how do you account
[57:50] Speaker 3: for that compliance, right? Like, you know, a Wall Street firm,
[57:54] Speaker 3: they can kind of absorb some of that stuff. But
[57:56] Speaker 3: if you're building six to 12 houses a year, right? Like,
[57:59] Speaker 3: you're losing money on that deal and you're not going
[58:01] Speaker 3: to be able to continue that business if you are
[58:03] Speaker 3: not able to meet your own timelines or, you know,
[58:06] Speaker 3: cost your clients on that extra money. And they're going
[58:08] Speaker 3: to charge you for the permits. Absolutely. Right. This is
[58:12] Speaker 3: the good government side of things. Right. There are certain
[58:15] Speaker 3: things that the government is supposed to be able to
[58:17] Speaker 3: deliver on. And if you're requiring permits and things like that,
[58:20] Speaker 3: making it an easy process that is timely and efficient
[58:24] Speaker 3: certainly seems like it should be should be part of
[58:26] Speaker 3: the good government side of things.
[58:28] Speaker 2: So you guys said that you're part of the legislation
[58:31] Speaker 2: that quadrupled the deduction for. Right.
[58:35] Speaker 3: Correct.
[58:36] Speaker 5: What does that mean? So you help lobby Congress?
[58:40] Speaker 3: Yeah. So the way that the alliance works, we both
[58:44] Speaker 3: did some direct lobbying on the provisions in that tax bill,
[58:48] Speaker 3: as well as organizing the grassroots, right? So getting homeowners
[58:52] Speaker 3: from across the country who were impacted by that tax
[58:56] Speaker 3: increase to be able to call their representatives and say,
[58:59] Speaker 3: this is huge, this is really important to me, running
[59:02] Speaker 3: public affairs campaigns that alerted elected officials to the importance
[59:08] Speaker 3: of making this change. So it's, really, you know, we
[59:10] Speaker 3: look at it as like, you know, kind of a
[59:12] Speaker 3: 360 operation there on the lobbying and grassroots side of things.
[59:20] Speaker 5: And that's through your organization.
[59:22] Speaker 3: Correct.
[59:22] Speaker 5: So you guys lobby organizations. Congress. Yes. That's part of what. Yeah,
[59:25] Speaker 5: that is.
[59:26] Speaker 3: So, yeah, there's a couple of pieces of the mission.
[59:28] Speaker 5: Right.
[59:29] Speaker 3: One is is direct action to Congress, having homeowners and
[59:33] Speaker 3: people who want to be homeowners weigh in on policies
[59:35] Speaker 3: that are important to them and then actually going up
[59:38] Speaker 3: and and having folks go up and talk to the
[59:41] Speaker 3: members of Congress when there's legislation.
[59:42] Speaker 2: Do you have a goal like as far as a
[59:44] Speaker 2: number like, OK, we want to have 10 million new
[59:46] Speaker 2: homeowners in the next five years? Like is there like
[59:48] Speaker 2: a set goal that you're trying to reach with the organization?
[59:51] Speaker 3: I think working through that, right? Like I mentioned, we're
[59:53] Speaker 3: four to six million new homes short of what could
[59:59] Speaker 3: meet the demand. So I think really trying to figure
[1:00:02] Speaker 3: out how many of those can we build with some
[1:00:06] Speaker 3: of the policies that we're enacting? And then what are
[1:00:10] Speaker 3: some of the goals that we could do to kind
[1:00:13] Speaker 3: of close the wealth gaps that we see as well?
[1:00:16] Speaker 4: Yeah, I've been doing the work. It's needed work for
[1:00:19] Speaker 4: three years. I'm sure people have bought homes. Now that
[1:00:22] Speaker 4: they've gotten the homes, there's still an educational process in
[1:00:24] Speaker 4: terms of equity. You know, our guy, MG, always calls
[1:00:28] Speaker 4: equity monopoly money, right? Because you can't touch it unless
[1:00:33] Speaker 4: you make a decision on to touch it. So talk
[1:00:36] Speaker 4: about that process, HELOCs, all the things in that world.
[1:00:39] Speaker 3: Yeah, no, and I was going to say, if you
[1:00:41] Speaker 3: want to talk more on that, again, I think you
[1:00:43] Speaker 3: hit on a really important piece there is it's not
[1:00:46] Speaker 3: just about getting the keys and getting in the door, right?
[1:00:48] Speaker 3: It's like, how do you keep and how do you
[1:00:50] Speaker 3: protect that investment? on the back end. And I think
[1:00:52] Speaker 3: that's one of the reasons that we have the advocacy
[1:00:55] Speaker 3: piece is so that we can help homeowners, you know,
[1:00:57] Speaker 3: protect that investment once they're in.
[1:00:59] Speaker 5: Yeah.
[1:00:59] Speaker 1: And for us is, you know, as a part of
[1:01:01] Speaker 1: education is one, getting them to acquire that first home
[1:01:05] Speaker 1: and that experience.
[1:01:06] Speaker 6: And then it's a rinse and repeat.
[1:01:08] Speaker 1: The reality is now that we've taught them and they've
[1:01:11] Speaker 1: been able to establish equity in that home, how do
[1:01:14] Speaker 1: you utilize that to create other investment opportunities when it
[1:01:18] Speaker 1: comes to real estate or not just because everybody doesn't
[1:01:21] Speaker 1: want to be in the real estate game. How do
[1:01:23] Speaker 1: you utilize that to either invest in that business or
[1:01:27] Speaker 1: other opportunities that will create wealth for you and your family?
[1:01:30] Speaker 1: So again, it's, I just believe, truly believe is having,
[1:01:34] Speaker 1: you know, experts at the table that will help guide
[1:01:36] Speaker 1: you because there's tax impacts or tax opportunities to the,
[1:01:41] Speaker 1: how you approach that work. And so again, that's why
[1:01:44] Speaker 1: we try to bring all those different partners to the
[1:01:46] Speaker 1: table to really discuss that.
[1:01:48] Speaker 2: So for people that want to, you know, come to
[1:01:50] Speaker 2: a seminar or receive information online, like, can you give
[1:01:54] Speaker 2: the information? Like what exactly the seminars that you, that
[1:01:57] Speaker 2: you have, right? How many cities, how can people sign
[1:02:00] Speaker 2: up if they can't make it to an in-person seminar?
[1:02:03] Speaker 2: Can they attend virtually? Are there offline education resources that
[1:02:08] Speaker 2: you provide? Like break down, everything that you have?
[1:02:12] Speaker 1: So we, and we, so we're going to hit, you know, throughout,
[1:02:18] Speaker 1: you know, all 2026, you know, we have, you know,
[1:02:21] Speaker 1: about four more cities that we're going to hit. We'll
[1:02:23] Speaker 1: be in Atlanta, we'll hit Tampa, we'll hit Akron, we'll
[1:02:27] Speaker 1: hit Pittsburgh. And then going into 27, we have, we're
[1:02:31] Speaker 1: slated for 14 cities that we're going to do throughout
[1:02:34] Speaker 1: the country. And we're doing those very strategically. One, we
[1:02:37] Speaker 1: want to align, you know, the cities that we pick
[1:02:40] Speaker 1: that have college campuses, preferably HBCUs, so that we make
[1:02:45] Speaker 1: sure we do activation within the communities that we want
[1:02:48] Speaker 1: to service and impact, you know, tremendously. So then throughout
[1:02:53] Speaker 1: the year, what we do is, you know, two times
[1:02:55] Speaker 1: a year we do a virtual reunion where everybody who's
[1:02:59] Speaker 1: had access to that can come on there. And that's
[1:03:02] Speaker 1: where the connection continues. So what we do is we
[1:03:05] Speaker 1: have our, you know, our experts that we have as partnerships,
[1:03:08] Speaker 1: like the IRS, you know, is a national partner. We have,
[1:03:12] Speaker 1: you know, like, you know, credit bureaus that are a partner,
[1:03:15] Speaker 1: the 100 Black Men, which I'm the national treasurer for,
[1:03:18] Speaker 1: you know, they're a partner, and other NARAB and other
[1:03:21] Speaker 1: great organizations. and some banking partners as well that will
[1:03:25] Speaker 1: be on there to continue to give that information. Because
[1:03:28] Speaker 1: some people, you know, may have come and they've learned
[1:03:30] Speaker 1: it and got excited about it, but then they got fearful,
[1:03:33] Speaker 1: something stunning that, you know, next step, them taking that
[1:03:36] Speaker 1: next step. So maybe that virtual opportunity allows for that.
[1:03:40] Speaker 1: So again, we want to be able to touch as
[1:03:41] Speaker 1: many people as possible. The goal is to hit at
[1:03:44] Speaker 1: least 25,000 people in 2027. We've been very successful this year.
[1:03:50] Speaker 1: working with the church community throughout the country and want
[1:03:53] Speaker 1: to continue to make that impact.
[1:03:55] Speaker 3: Yeah, this is an important piece. And Kyle, this is
[1:03:57] Speaker 3: probably in your warehouse.
[1:03:59] Speaker 4: Obviously, you want to stay up to date with education, obviously,
[1:04:02] Speaker 4: in the world of real estate.
[1:04:04] Speaker 3: But Fed decisions are important, too.
[1:04:05] Speaker 5: Oh, yeah.
[1:04:07] Speaker 3: Because interest rates will kind.
[1:04:09] Speaker 4: Of determine, number one, what our loan is going to be,
[1:04:12] Speaker 4: how much, right? I know we're sitting in the sixes.
[1:04:15] Speaker 3: I remember when it was in the twos. Right. I
[1:04:18] Speaker 3: got lucky.
[1:04:19] Speaker 4: I got right there, I think, at 3.75 as my
[1:04:21] Speaker 4: interest rate. Talk about the impact that having a new
[1:04:24] Speaker 4: Fed chair could have on home ownership for the next
[1:04:27] Speaker 4: three to four years.
[1:04:28] Speaker 5: Certainly.
[1:04:29] Speaker 1: Yeah.
[1:04:29] Speaker 3: I mean, if the new Fed chair takes a more
[1:04:33] Speaker 3: loose approach to monetary policy, right, and looks at, you know,
[1:04:39] Speaker 3: using interest rates to, you know, kind of lower the debt,
[1:04:42] Speaker 3: bring down the cost of home ownership, things like that,
[1:04:45] Speaker 3: you know, I think you could potentially see uh, uh,
[1:04:48] Speaker 3: you know, if they decided to go that way, right.
[1:04:51] Speaker 3: You could see some, some interest rate cuts. Uh, it
[1:04:54] Speaker 3: seems like they're going to right now kind of looking
[1:04:56] Speaker 3: like they're going to kind of hold things neutral. Um,
[1:04:59] Speaker 3: but those interest rates are really key to affordability for, uh, for,
[1:05:02] Speaker 3: for homes. Right. Um, you know, if your interest rates,
[1:05:05] Speaker 3: I think that can't give you a number on, on
[1:05:08] Speaker 3: what the percentage, I think it's a 10th of a
[1:05:10] Speaker 3: percentage point, um, decreases, uh, uh, Decreases home affordability by
[1:05:16] Speaker 3: a certain amount each each tent that goes up. Right.
[1:05:18] Speaker 3: So it's it is going to make your dollar and
[1:05:20] Speaker 3: your budget go go further if interest rates go down.
[1:05:24] Speaker 1: Right.
[1:05:25] Speaker 3: You'd be able to afford a little bit more house
[1:05:26] Speaker 3: if if that were the case. So I think, you know,
[1:05:29] Speaker 3: certainly the industry would like to see some decreases in
[1:05:34] Speaker 3: rates and it would be great, you know, great for borrowers.
[1:05:37] Speaker 3: I think we'll have to see, you know, kind of
[1:05:40] Speaker 3: what the geopolitical and, you know, the domestic political and
[1:05:47] Speaker 3: finance environment kind of holds, right? But we'd love to
[1:05:51] Speaker 3: see some cuts. I'm sure you would.
[1:05:55] Speaker 2: Well, we want to thank you guys for coming. Can
[1:05:57] Speaker 2: you give the website, social media, all the information that
[1:06:00] Speaker 2: people need to have to make sure that they go
[1:06:03] Speaker 2: to the events and get all the information?
[1:06:05] Speaker 1: Sure.
[1:06:05] Speaker 3: You can follow us online at propertyownersalliance.org. That's where all
[1:06:10] Speaker 3: of our website registration, everything for the tour is housed.
[1:06:16] Speaker 3: And then we've got, you can follow Property Owners Alliance
[1:06:20] Speaker 3: and Larisse on social. We're on all the major social platforms,
[1:06:24] Speaker 3: you know, Instagram, Facebook. Twitter, X, and LinkedIn. Larisse, do
[1:06:30] Speaker 3: you want to give yours as well?
[1:06:31] Speaker 1: So you follow me at Larisse Purnell on Instagram, Facebook, LinkedIn, TikTok.
[1:06:37] Speaker 1: We're always posting about where we're coming and then also
[1:06:40] Speaker 1: looking for opportunities. You know, we've had people reach out
[1:06:43] Speaker 1: to us on social media and say, hey, come to
[1:06:45] Speaker 1: our city. We've had a lot of mayors invite us
[1:06:47] Speaker 1: to their communities as well to activate the work. Have
[1:06:51] Speaker 1: had a lot of success with those partnerships as well.
[1:06:54] Speaker 1: So Yeah, just follow us up. Stay locked in. We
[1:06:57] Speaker 1: got a lot of great information. And I think, again,
[1:06:59] Speaker 1: when we shift to this activation, I promise you, you're
[1:07:02] Speaker 1: going to see lives change.
[1:07:04] Speaker 3: A lot more coming.
[1:07:05] Speaker 2: Well, I appreciate it. Thank you, guys. Make sure you
[1:07:08] Speaker 2: guys tap in. Get the information. It's vitally important. Home
[1:07:11] Speaker 2: ownership is one of the ways to, like you said,
[1:07:14] Speaker 2: shorten the wealth gap in these countries. And that's something
[1:07:17] Speaker 2: that we've been talking about a lot. So information, it
[1:07:20] Speaker 2: all starts with mindset and information. So we'll tap in
[1:07:23] Speaker 2: with you guys. See you next week.
[1:07:24] Speaker 5: Peace.
[1:07:24] Speaker 3: Peace.

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