# INVESTOR TURNED $12,000 STUDENT LOAN INTO $40 MILLION IN REAL ESTATE

An episode of [Earn Your Leisure](https://invisiblenetwork.ai/podcast/1450211392), 24 Aug 2026, 1 h 24 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/8dbc4f54-a337-4481-9ef2-b355012b0a3d/3b61d36f-3562-497b-a603-b4ae00eafd4c/audio.mp3?utm_source=Podcast&in_playlist=eac4c628-29cb-469a-b5c8-b355012b0a48

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## Transcript

[0:01] Speaker 1: My graduates from my school being false back drop drop
[0:07] Speaker 1: my drop, back drop drop.
[0:20] Speaker 2: All right, guys, welcome back, ey l. We got another
[0:23] Speaker 2: exciting episode. That's a fact. That's the fact. So anytime
[0:33] Speaker 2: we get to talk about real estate, it's exciting. It
[0:35] Speaker 2: seems like an every time we talk about real estate,
[0:37] Speaker 2: there's always a different avenue. There's so many different ways
[0:40] Speaker 2: to make money within real estate. So this is the
[0:43] Speaker 2: first time that we really had somebody from the city,
[0:46] Speaker 2: from New York City that was really big in real
[0:48] Speaker 2: estate as an investor. So Ju Bernard is a huge, huge,
[0:54] Speaker 2: huge successful investor out of New York City. He owns
[0:58] Speaker 2: thirteen Brownstones between Brooklyn and Halem, and he also owns
[1:02] Speaker 2: a physical location, Brooklyn Bank, which we'll talk about, which
[1:05] Speaker 2: is a nonprofit organization in Brooklyn as well. He has
[1:08] Speaker 2: real estate company just a very accomplished.
[1:11] Speaker 3: Well yeah that sounds it's called Mobo Talk.
[1:15] Speaker 2: So yeah, the properties on Echo, the properties together valued
[1:20] Speaker 2: over forty million dollars. I mean, if you're familiar with
[1:23] Speaker 2: parts of New York City, if you know you know
[1:27] Speaker 2: Brownstones in Brooklyn, Best Die Area and Halem, you know
[1:32] Speaker 2: that you know, on the low end, one million one
[1:34] Speaker 2: point five million on the high end two point five
[1:36] Speaker 2: three million, four million dollars, like it's not uncommon for
[1:39] Speaker 2: Brownstones to go for that. He has a very unique
[1:42] Speaker 2: story because he's one of the guys that, like when
[1:44] Speaker 2: jay Z said, I could have bought a Dumbo, I
[1:46] Speaker 2: could have brought a what he said, I could have
[1:48] Speaker 2: brought a cribbin dumb. I could have brought a building
[1:49] Speaker 2: in Dumbo for a million million, that same buildings where
[1:52] Speaker 2: twenty million, half filling Dumbo. So he's one of these
[1:56] Speaker 2: guys that actually had an opportunity to invest early and
[2:00] Speaker 2: and you know, before the areas really started to get
[2:03] Speaker 2: gentified and changed, and he just you know, set on
[2:06] Speaker 2: it and it worked out for his favor. So he
[2:10] Speaker 2: has a story to tell. He got a lot of
[2:12] Speaker 2: gems to give, and it's a great, great conversation to
[2:16] Speaker 2: have because a lot of times we speak about being
[2:19] Speaker 2: on the wrong side of gentrification and not taking advantage
[2:24] Speaker 2: of certain things and like getting in when it's too late,
[2:27] Speaker 2: But he actually got in before it actually started to change,
[2:31] Speaker 2: and he saw the whole process, and he learned a
[2:33] Speaker 2: lot along the wave, created systems for himself and just
[2:37] Speaker 2: a wealth of information. He also taught a class for
[2:39] Speaker 2: us e y l un that's a fact. So he
[2:44] Speaker 2: taught the class at Eyo University, and we thought it
[2:47] Speaker 2: would be a good idea to bring him on the
[2:48] Speaker 2: podcast as well. So, first and foremost, thank you for
[2:50] Speaker 2: joining us. Appreciate it, glad to be here, brother, appreciate
[2:53] Speaker 2: you for sure, for sure. So let's get into it.
[2:57] Speaker 2: Let's let's get into it, because I you know, I
[3:00] Speaker 2: was listening to your class. Shout to Jamar did a
[3:01] Speaker 2: good job of hosting it, and I know you said
[3:04] Speaker 2: that your original goal in real estate was to make
[3:07] Speaker 2: five hundred dollars a month. Like he was like, if
[3:08] Speaker 2: I could just make five hundred dollars a month, it's crazy.
[3:11] Speaker 2: Five hundred dollars a month to almost forty fifty million
[3:13] Speaker 2: dollars in real estate, Like it's crazy how life works out.
[3:16] Speaker 2: So how what was what was your original process into
[3:20] Speaker 2: getting into real estate and how did you make the
[3:24] Speaker 2: transition from just working to actually being a real estate investor?
[3:28] Speaker 1: What made me get into the game. I was just short,
[3:34] Speaker 1: you know, like I just didn't have like my nine
[3:37] Speaker 1: to five just wasn't cutting it. You know, this was
[3:39] Speaker 1: like back in the mid to late nineties when when
[3:42] Speaker 1: they was the bottles and any at any minute, Diddy
[3:46] Speaker 1: could run into the into the spot and you know
[3:49] Speaker 1: saying buy the bar route and buy the bar out,
[3:51] Speaker 1: and you're just sitting there holding your hindeken all night, right,
[3:55] Speaker 1: And you know, I just didn't want to be that dude.
[3:57] Speaker 1: You know, I did not want to be that dude.
[4:00] Speaker 1: So I was just like, Yo, how am I going
[4:02] Speaker 1: to do this? You know, I had gotten into a
[4:03] Speaker 1: little trouble earlier, ended up spending you know, like over
[4:08] Speaker 1: some dumb ship, like spent a week in Albany, Albany County,
[4:11] Speaker 1: and I was just like, yo, I'm not about that life.
[4:14] Speaker 1: So I learned learned. I learned very very early in
[4:18] Speaker 1: the game I'm not about that life. You know, being
[4:21] Speaker 1: a New York dude in Albany County jail. It was
[4:25] Speaker 1: just like, Nah, this isn't This ain't for me. So
[4:26] Speaker 1: I was just like, I can't be in the streets
[4:29] Speaker 1: because that that don't work for me. I ain't got
[4:32] Speaker 1: no hot sixteens, no hot rhymes. And my jump shot
[4:35] Speaker 1: is I wouldn't even say decent. It's on a good day,
[4:41] Speaker 1: mediocre at best. So the only thing left for me
[4:46] Speaker 1: to do was try to find my way in business.
[4:49] Speaker 3: You know.
[4:50] Speaker 1: So I was I was working at Verizon at the time,
[4:55] Speaker 1: and I was working on my m b A, you know,
[4:59] Speaker 1: and I I was planning on going the whole corporate route.
[5:01] Speaker 1: But I was still you know, I was still young.
[5:03] Speaker 1: I was just like in my early twenties, still still
[5:05] Speaker 1: hanging out and stuff like that. So I wanted to
[5:07] Speaker 1: be in the mix. So when I met this dude,
[5:12] Speaker 1: this dude in my class one day, we were just
[5:14] Speaker 1: chopping it up and he was a real estate broker
[5:16] Speaker 1: and he was telling me, yo, if you got if
[5:19] Speaker 1: you got good credit, if you got good credit, you
[5:21] Speaker 1: could buy a crib. And I was just like, how
[5:23] Speaker 1: am I going to do that? Then he you know,
[5:25] Speaker 1: walked me through the whole fah a process and this,
[5:27] Speaker 1: that and the other, and that's when I was just like,
[5:30] Speaker 1: but I don't have no front money.
[5:32] Speaker 3: To do it.
[5:33] Speaker 1: So that's when I pulled. I pulled money out of
[5:36] Speaker 1: a student loan because although Verizon was paying me, paying
[5:41] Speaker 1: me to go to school, but I could still take
[5:43] Speaker 1: student loans out. So I, you know, I.
[5:45] Speaker 4: Took I took like ale, I took like I took
[5:50] Speaker 4: like a twelve thousand dollars, twelve thousand dollars loan, and
[5:53] Speaker 4: I bought one hundred thousand dollars crib for like three
[5:55] Speaker 4: percent down.
[5:57] Speaker 3: I'll send me the refund check, send.
[5:59] Speaker 1: Me the refund checks. Game exactly it was.
[6:02] Speaker 2: It was. It was faha.
[6:04] Speaker 1: It was faha the very first joint.
[6:06] Speaker 2: So you took twelve So how much was it you said,
[6:09] Speaker 2: twelve thousand dollars loan?
[6:10] Speaker 1: It was a twelve thousand dollars alone. When everything's when
[6:14] Speaker 1: everything was all said and done, I probably came out
[6:17] Speaker 1: of my pocket like like ten grand.
[6:19] Speaker 2: And what year was this?
[6:20] Speaker 1: This was ninety seven, so it was three percent downri
[6:23] Speaker 1: crip was one hundred thousand dollars.
[6:25] Speaker 2: So three thousand. And then closing costs, all of.
[6:27] Speaker 1: That closing costs and all the other little things.
[6:30] Speaker 2: Cost ten thousand. Yeah, and then okay.
[6:33] Speaker 1: And then then my you know, then the next crib
[6:36] Speaker 1: came available, like a few months later. That was right
[6:40] Speaker 1: next door. So I did it again.
[6:42] Speaker 2: Where's this?
[6:43] Speaker 3: This was south side Queens, So Queens is the Queens
[6:46] Speaker 3: is the origin of your real estate journey.
[6:49] Speaker 1: Those were the first two crips I ever bought. I
[6:52] Speaker 1: bought them in Queens. I didn't I didn't know anything
[6:55] Speaker 1: about anything because I was actually living in Queens at
[6:57] Speaker 1: the time. I was living in Rosedale. So I copped
[7:01] Speaker 1: those those two cribs and then and then my man
[7:03] Speaker 1: put me on to the refinance hustle.
[7:07] Speaker 5: So on the first crib, you did the student loan
[7:09] Speaker 5: refund right, second crib, same thing, or we just took
[7:11] Speaker 5: the profits from the first.
[7:13] Speaker 1: Second crib, same thing, more student loans. Next semester did
[7:15] Speaker 1: it again.
[7:17] Speaker 3: Yo, that's crazy. I remember getting that refund check.
[7:19] Speaker 5: It was like, if you take out a loan, right,
[7:21] Speaker 5: and then somebody's paying for it, they reimburse you. And
[7:23] Speaker 5: I think I bought like I bought like a pair
[7:26] Speaker 5: of Tames and some Judans.
[7:28] Speaker 3: Nah, I wasn't thinking right.
[7:30] Speaker 1: And then I rocked. I rocked that same hustle for
[7:33] Speaker 1: like two years where I was where now. I found
[7:38] Speaker 1: out that if I paid, if I paid it upfront,
[7:41] Speaker 1: if I paid the money out of my pocket, then
[7:45] Speaker 1: I could apply for financial aid. Right. I applied for
[7:50] Speaker 1: financial aid and then I got that money, and then
[7:52] Speaker 1: I took the little student loans, and then I took
[7:55] Speaker 1: the receipt of when I paid my money and then
[7:57] Speaker 1: I gave it to the job and they got reimbursed you,
[8:00] Speaker 1: and then they reimbursed me.
[8:01] Speaker 3: So it was still the loans a bunch of homes.
[8:05] Speaker 1: Yeah, that's how I got started, beautiful stories, you know,
[8:08] Speaker 1: that's how I got started. I probably statute of limitations
[8:12] Speaker 1: is probably it's nineteen ninety seven. You know, good luck
[8:16] Speaker 1: anybody want to prosecute. But that's how I got started.
[8:20] Speaker 2: Okay, so all right, so two homes did you say
[8:23] Speaker 2: you got turned to the to the refi game.
[8:24] Speaker 1: That turned onto the Refi game. So cribs that I
[8:28] Speaker 1: bought for one hundred grand, now now I could refight
[8:33] Speaker 1: them because the values were like one hundred and fifty
[8:35] Speaker 1: like a year later because I bought the blow Market
[8:38] Speaker 1: and stuff like that, and so now I got all
[8:41] Speaker 1: my cash back plus another crew, I mean, plus more cash.
[8:45] Speaker 1: So so it's like two years into the game, I
[8:49] Speaker 1: was like already one hundred grand. Strong came into the
[8:52] Speaker 1: Strong Yeah exact, but I always use that because that
[8:58] Speaker 1: one hundred grand is like I had a whome makering
[9:01] Speaker 1: line of credit. I ended up buying a crib. I
[9:04] Speaker 1: ended up buying another crib that where me and my
[9:07] Speaker 1: boys used to live at. You know, I bought a
[9:09] Speaker 1: two family crib and then I had the mortgage was
[9:12] Speaker 1: like two thousand dollars a month. The mortgage was like
[9:16] Speaker 1: two thousand dollars a month I had. I was renting
[9:19] Speaker 1: upstairs for fifteen hundred and each one of my boys
[9:22] Speaker 1: was giving me five hundred. Plus I was renting the
[9:24] Speaker 1: basement for six hundred dollars. So I was put like,
[9:27] Speaker 1: I was pretty much living in a party house and
[9:29] Speaker 1: getting like fifteen hundred dollars.
[9:31] Speaker 5: He's a due that Nip was talking about, right. He
[9:35] Speaker 5: was like, Yo, he's the guy who's in school making
[9:36] Speaker 5: more than his seaches.
[9:39] Speaker 3: He's a guy, yo.
[9:40] Speaker 1: But the thing about that is, so it's like a
[9:44] Speaker 1: year and a half into the into the game. I'm
[9:47] Speaker 1: making money on real estate, trying you know, working, partying,
[9:52] Speaker 1: and also trying to get my MBA at the same time,
[9:56] Speaker 1: and I'm not taking that city. I'm not taking that
[9:59] Speaker 1: a serious as I should because I'm making money. So
[10:03] Speaker 1: I roll up, I roll up to class one day
[10:05] Speaker 1: late again, and the teachers like, hey, mister Bernard, if
[10:09] Speaker 1: there's some place you'd rather be, why don't you be there,
[10:12] Speaker 1: and I thought about that the whole time. So you
[10:14] Speaker 1: know how the teachers give you like that break. At
[10:15] Speaker 1: forty five minutes into the class, I left, you know,
[10:21] Speaker 1: I left my bag, my books, all of that. I
[10:23] Speaker 1: just left, you know, got in the car and bounced.
[10:25] Speaker 1: And I didn't officially withdraw nothing like that. I just
[10:29] Speaker 1: I was like, you know what, you right, there's someplace
[10:31] Speaker 1: i'd rather be. I'd rather I'm gonna.
[10:32] Speaker 3: Do that words of advice.
[10:34] Speaker 1: So that's that's when I made the official decision that
[10:38] Speaker 1: this was my life.
[10:39] Speaker 2: What what? What school? Did you go to?
[10:41] Speaker 1: Saint John's University? Okay, you know, like literally, my bag,
[10:46] Speaker 1: all that other stuff, it was just still there, still there.
[10:52] Speaker 2: Nice nice. So all right. So you so you said,
[10:55] Speaker 2: I'm and it's using your master's program.
[10:57] Speaker 1: I was trying to get my masters at that time NBA. Yeah,
[11:00] Speaker 1: trying to get a master's in business administration. Was trying
[11:03] Speaker 1: to get a management degree because I was working at Verizon.
[11:07] Speaker 1: I was a manager there, so I was trying to
[11:09] Speaker 1: go up the corporate ladder.
[11:11] Speaker 2: So all right, so at that point you quit, did job?
[11:14] Speaker 2: I mean, you quit school and you have two properties you.
[11:17] Speaker 1: Said I got by that time I had like four properties.
[11:20] Speaker 2: Four properties. Yeah, and then all right, so now you're
[11:22] Speaker 2: just doing real estate full time at this point.
[11:24] Speaker 1: No, I'm still I'm still at Verizon, still doing my
[11:28] Speaker 1: thing at Verizon. But you know, tell the truth, I
[11:33] Speaker 1: had to take a step back because I was gambling
[11:35] Speaker 1: at the time too, you know, like I got this
[11:39] Speaker 1: thing right here says never again twelve thirteen oh four.
[11:42] Speaker 1: You know, because I was gambling heavy. So I ended
[11:46] Speaker 1: up those first two cribs, those first two cribs that
[11:49] Speaker 1: I had, I had to sell them to pay gambling debts.
[11:52] Speaker 2: But what was your sports or blackjack?
[11:56] Speaker 1: I'm doing blackjack I was doing and dice games.
[11:59] Speaker 2: People don't really that gambling is an addiction. I know
[12:01] Speaker 2: a few people that have lost their families, lost home,
[12:04] Speaker 2: lost their freedom because of gambling. It's not something that's
[12:08] Speaker 2: talked about enough. We talk about drug addiction a lot, alcoholism,
[12:12] Speaker 2: but millions of Americans, people all over the world suffer
[12:17] Speaker 2: from gambling. Can you talk about that a little bit.
[12:22] Speaker 1: First of all, you're right, it is an addiction, and
[12:25] Speaker 1: I didn't even respect it as an addiction. I was
[12:28] Speaker 1: just like, looking at It's just something that something I did,
[12:31] Speaker 1: and I was good. I was making money when I
[12:34] Speaker 1: was making money, but when I was losing, I was
[12:36] Speaker 1: losing money, big money.
[12:37] Speaker 2: You know.
[12:38] Speaker 1: And I had tried. I had tried like Gamblers Anonymous
[12:43] Speaker 1: and all that other stuff. And I remember going to
[12:45] Speaker 1: a Gamblings Anonymous meeting and looking at these dudes telling
[12:47] Speaker 1: these stories. I was like, Damny, that's a bunch of losers.
[12:51] Speaker 3: You know.
[12:51] Speaker 1: I'm not ya, you know. But meanwhile, meanwhile, I'm like
[12:56] Speaker 1: going to Vegas and losing like sixty grand a pop,
[13:00] Speaker 1: going to dice game, going to dice games losing like fifteen, fifteen,
[13:05] Speaker 1: twenty grand. You know. The funniest story ever, not true,
[13:08] Speaker 1: really a funny story.
[13:09] Speaker 2: But I was.
[13:11] Speaker 1: The Linux Lounge back in the days in Harlem. One
[13:16] Speaker 1: day I found myself in the back room of the
[13:18] Speaker 1: Lanless Lounge. My man took me in there, and I
[13:21] Speaker 1: had there was the dice game going on, and I
[13:23] Speaker 1: went down there.
[13:25] Speaker 3: Four exactly.
[13:28] Speaker 1: So I went down there, and you know, I was
[13:31] Speaker 1: with my man, just went out there and humble. We
[13:34] Speaker 1: didn't go there for that, but we found ourselves back
[13:36] Speaker 1: there and I was hot, you know, and I didn't
[13:41] Speaker 1: know anybody in that room, right, And next thing, you know,
[13:45] Speaker 1: I'm like rolling, rolling, rolling, and I'm like, I'm up
[13:48] Speaker 1: three grand, I'm up five grand, I'm up ten grand.
[13:51] Speaker 1: My man leaves because he's like, I gotta go. It's like, nah,
[13:54] Speaker 1: I'm hot, I'm good. I'm staying right. Next thing, you know,
[13:56] Speaker 1: I'm up like fifteen grand and I'm looking around room.
[14:00] Speaker 1: I don't know nobody in there, and ain't nobody smiling.
[14:05] Speaker 3: Welcome to New York.
[14:06] Speaker 1: So then I was just like I had cool, so dude,
[14:10] Speaker 1: start making best. I got three grand on this. I
[14:13] Speaker 1: was like, you'll put your money on the floor. It's like, nah,
[14:15] Speaker 1: I'm good for it.
[14:17] Speaker 2: And they was live and I hit them.
[14:20] Speaker 3: With trips for their money. Paul, forget about this.
[14:23] Speaker 1: Nah No, that's not how I went. That's not how
[14:26] Speaker 1: it all. So dudes was just in the ass betting,
[14:29] Speaker 1: like because they knew I was by myself.
[14:32] Speaker 2: What are you going to do?
[14:32] Speaker 1: What am I going to do? Is so so I
[14:35] Speaker 1: basically had to give every dollar back to walk out
[14:38] Speaker 1: of there.
[14:39] Speaker 2: So you knew that they was asked. Anybody's not familiar.
[14:43] Speaker 2: That's when somebody's betting with no intentions of actually paying
[14:46] Speaker 2: with their betting. So psychologically you knew you had a
[14:51] Speaker 2: decision to make. Either you call their bluff and like, okay,
[14:55] Speaker 2: I'm leaving. You know that they're not going to pay you.
[14:58] Speaker 2: You're in Harllow, You're.
[14:59] Speaker 1: From Queen, from Brooklyn, but living in Queens, a long
[15:02] Speaker 1: way from home, and this is this is nineteen ninety something,
[15:06] Speaker 1: halem dangerous, not gentrified, different psychologically.
[15:14] Speaker 2: You was like, to just keep it respectful, I'll lose
[15:17] Speaker 2: the money. I'll play until I just lose it exactly
[15:20] Speaker 2: so I don't just have to make this awkward situation.
[15:22] Speaker 2: I could just at least I could just not get
[15:24] Speaker 2: killed out here.
[15:25] Speaker 1: Exactly of front like I had, Like I made a decision.
[15:28] Speaker 2: That's very wild.
[15:30] Speaker 1: That's a calculated decision.
[15:32] Speaker 2: That's a calculator. You calculated it very well, you know.
[15:35] Speaker 1: But it's the same calculated decisions that you make every
[15:38] Speaker 1: day in real estate, you know what I'm saying, Like
[15:42] Speaker 1: all the time, it's like do I take this l
[15:44] Speaker 1: right here and lift to fight another day or do
[15:47] Speaker 1: I keep going?
[15:50] Speaker 2: So at what point do you do? You really hit
[15:53] Speaker 2: your stride in real estate and kind of like hit
[15:57] Speaker 2: it out the part.
[15:58] Speaker 1: So again, I always say I came into this game
[16:02] Speaker 1: one hundred grand strong. I had a crib in Rosdale,
[16:06] Speaker 1: the crib where I lived with my boys exactly. So
[16:09] Speaker 1: I pulled one hundred grand out of that. And you know,
[16:13] Speaker 1: like whenever cats get some real dough, what they want
[16:15] Speaker 1: to do. They want to open.
[16:18] Speaker 3: A bar, a record like that was my first alcohol barbershop.
[16:22] Speaker 1: Barber shop record label laund sneaker Stone. So I was
[16:26] Speaker 1: trying to open I was trying to open up a
[16:29] Speaker 1: bar in downtown Brooklyn, right. So I met this real
[16:33] Speaker 1: estate broker and he he basically was like showing me around,
[16:38] Speaker 1: and then I told him, you know, I let him
[16:40] Speaker 1: know how much money I was holding, and he basically
[16:43] Speaker 1: was like, yo, I have an opportunity for you. So
[16:47] Speaker 1: he brought me to this crib in Clinton.
[16:48] Speaker 6: Hills, right Jersey, brin Hills, Brooklyn, and I ended up
[16:55] Speaker 6: buying a Brownstone for like four hundred thousand dollars you know, you.
[17:00] Speaker 1: Know, ten percent down, ten percent down, forty grand. So
[17:06] Speaker 1: I copped that joint, and I ended up copping the
[17:09] Speaker 1: joint next to it, like three or four months later
[17:13] Speaker 1: with the rest of that money. Right, So those two cribs,
[17:17] Speaker 1: I bought one for four hundred. Then I bought the
[17:19] Speaker 1: other one for four forty and this was like two
[17:22] Speaker 1: thousand and three, So this was right before things started
[17:26] Speaker 1: to pop. So within a couple, within a couple of
[17:30] Speaker 1: I would say, every every month, like the values were
[17:35] Speaker 1: going up like one hundred grand, one hundred and fifty grand,
[17:37] Speaker 1: two hundred grand up until like two thousand and six,
[17:40] Speaker 1: two thousand and seven. So by two thousand and six,
[17:42] Speaker 1: those same cribs that I bought for four hundred grand,
[17:45] Speaker 1: four hundred grand turned were worth almost eight eight hundred
[17:49] Speaker 1: and nine thousand dollars.
[17:50] Speaker 5: And you would just get are you getting rental income
[17:52] Speaker 5: from them? Are some of you flipping?
[17:53] Speaker 1: No? I didn't get into I didn't get into the flipping.
[17:56] Speaker 3: Okay, so rental income right now?
[17:57] Speaker 1: Yeah, this is straight rental. So and I still owe
[17:59] Speaker 1: them credits crib is now, you know, so I was
[18:04] Speaker 1: taking you know, taking home, makering lines of credits out
[18:07] Speaker 1: and just buying more and you know, balling out, you know.
[18:11] Speaker 1: So so now this is like two thousand and six,
[18:13] Speaker 1: two thousand and two thousand six, two thousand and seven,
[18:17] Speaker 1: you know, that's when I bought the big crib in Jersey.
[18:20] Speaker 2: You know, of course that you know, you know interesting
[18:22] Speaker 2: thing about Clinton Hills, you know, interesting historical hip hop fact.
[18:27] Speaker 2: So the late great Christopher Wallace. You know a lot
[18:31] Speaker 2: of people think he's from bed Starts James. He said,
[18:34] Speaker 2: the lot is one from Bedford Stoveson. But his actual
[18:37] Speaker 2: house is on a borderline, and technically it's in Clinton Hills.
[18:44] Speaker 1: Yes, it's not even it's not even on the borderline
[18:46] Speaker 1: because it's safe.
[18:47] Speaker 2: I tried to get them the benefit.
[18:50] Speaker 3: Because you got, you got.
[18:52] Speaker 1: He's like six blocks from bed Stocks. Yeah, little known
[18:55] Speaker 1: facts exactly so.
[18:57] Speaker 2: And the New York Post did a did a story
[19:00] Speaker 2: because you know, you said it's his his mom had
[19:01] Speaker 2: the one where it's not it's not. It was never
[19:03] Speaker 2: a one shot. Not sure why he said that, but
[19:06] Speaker 2: it's a that same apartment right now. It's written for
[19:10] Speaker 2: four thousand dollars a month. And the New York Posted
[19:12] Speaker 2: did a story about it because it's like, you know,
[19:14] Speaker 2: he that became so synonymous because when he came out
[19:16] Speaker 2: with that song Juicy Juicy, right when he was talking
[19:20] Speaker 2: about it, he literally chronicled that apartment. And that apartment
[19:24] Speaker 2: today is literally I think it was like forty two.
[19:26] Speaker 2: It might be like forty two hundred dollars a month
[19:28] Speaker 2: for that same apartment that he used to live in
[19:31] Speaker 2: back in the nineties. So it's crazy.
[19:33] Speaker 1: So I'm gonna take you back to a true story.
[19:36] Speaker 1: Back on Biggie's block, right, So this is like two thousand,
[19:41] Speaker 1: two thousand and two, two thousand and three. Again, I'm
[19:46] Speaker 1: on the corner of Saint James and Fulton. You know
[19:49] Speaker 1: that little triangle over there, the same I don't know
[19:52] Speaker 1: if anybody ever saw that like that, that freestyle Biggie was.
[19:57] Speaker 3: Doing, yeah, in front of the corner.
[19:59] Speaker 2: Yeah, when they had the exactly with the tyms on
[20:02] Speaker 2: with the they put it in juicy to exactly.
[20:05] Speaker 1: So I'm I'm on that corner. This is before I
[20:08] Speaker 1: bought the cribs in Brooklyn. I'm on that corner rolling dice.
[20:14] Speaker 1: That's what I do. So we're out there, we rolling
[20:19] Speaker 1: dice heavy. Like there's like at least twenty dudes out there,
[20:23] Speaker 1: all thugs, you know. And I was comfortable out there
[20:26] Speaker 1: because this is Brooklyn, Brooklyn, exactly. I'm comfortable exactly. So
[20:33] Speaker 1: I'm out there rolling dice heavy and there's a cipher
[20:37] Speaker 1: you know what I'm saying. It's like twenty twenty dudes
[20:39] Speaker 1: all in the circle and dude just smoking blunts and
[20:43] Speaker 1: forty ounces old old E and Saint.
[20:46] Speaker 5: And that for the people that are under twenty five
[20:49] Speaker 5: or forty ounces of alcoholic beverage.
[20:53] Speaker 1: That will give you cancer. Right, So we're indecipher like,
[21:00] Speaker 1: and what happens was what happened was the dice are
[21:04] Speaker 1: on the floor, right and right in the middle. Here
[21:08] Speaker 1: comes this this white girl who's jogging with her headphones on,
[21:16] Speaker 1: who runs right through the cipher, kicks the dice and
[21:21] Speaker 1: keeps it moving. And and what what happened was what
[21:26] Speaker 1: I looked around, was that nobody said anything, but everybody
[21:31] Speaker 1: nobody believed what just happened. And that's when I knew
[21:35] Speaker 1: that this was her neighborhood now and these were.
[21:38] Speaker 2: Our wires, right, change your life.
[21:41] Speaker 1: Positive on the positive side, exactly because I looked at it.
[21:45] Speaker 1: I looked at it, and it's just like yo, she
[21:47] Speaker 1: just kept it moving like no fear in her heart,
[21:50] Speaker 1: no nothing, and the dude and nobody say nothing to her.
[21:56] Speaker 1: But that's when I knew. That's when I that's when
[21:59] Speaker 1: I started looking at that area a little differently, you know,
[22:03] Speaker 1: That's when that's when things changed for me over there.
[22:05] Speaker 1: That's when you know I got I got this this
[22:09] Speaker 1: philosophy right that the only way you make money is
[22:14] Speaker 1: when you're able to see things that other people can't see.
[22:17] Speaker 1: So when you see opportunities that other people can't see. Right.
[22:21] Speaker 1: And the other thing I always say is like when
[22:23] Speaker 1: you do things that other people are not willing to do. Right.
[22:26] Speaker 1: So at that little dice game, it opened my eyes
[22:30] Speaker 1: and I was able to see something. You know what
[22:32] Speaker 1: I'm saying. I was able to see change coming. You know.
[22:36] Speaker 1: It's just like like very early in those days, like
[22:41] Speaker 1: I never I never did a marketing analysis, you know,
[22:45] Speaker 1: to to check the to check the demographics to see
[22:49] Speaker 1: what people were making and what what you know, the
[22:53] Speaker 1: money was like in the neighborhood and what was coming.
[22:56] Speaker 2: Right.
[22:56] Speaker 1: So what I used to do a poor man's small analysis,
[23:01] Speaker 1: which is I would just look to see what what
[23:05] Speaker 1: businesses were coming in the neighborhood. Right, So like if
[23:08] Speaker 1: I saw if I saw a Starbucks opening up, I
[23:12] Speaker 1: was just like, yo, I need to be around here,
[23:15] Speaker 1: because like it was like copying somebody else's homework because
[23:19] Speaker 1: you know, they did their marketing analysis.
[23:20] Speaker 5: So if they if they felt comfortable enough coming into
[23:23] Speaker 5: this neighborhood, then I should feel comfortable enough to start
[23:25] Speaker 5: investing in this neighborhood exactly.
[23:27] Speaker 1: So when I saw, I initially, I initially like, you're
[23:35] Speaker 1: familiar with Brooklyn. So it basically like the big money
[23:39] Speaker 1: was Fort Green. Then then the next big money was
[23:44] Speaker 1: Clinton Hills, and then the next big money was a
[23:47] Speaker 1: Bad Star, Right, so I got in. I got in
[23:51] Speaker 1: on on the Clinton Hill side, like when it you know,
[23:54] Speaker 1: when it was still a little there's still a little
[23:56] Speaker 1: bit money to be made, right, So when I saw
[24:00] Speaker 1: and I saw like like these coffee shops and and
[24:06] Speaker 1: the te store that's on Biggie's block. Now you know
[24:09] Speaker 1: what I'm saying, on the corner of his block, there's
[24:11] Speaker 1: a tea store.
[24:13] Speaker 2: The great thing is like people like the New York
[24:15] Speaker 2: Post is a great article for anybody if they want
[24:17] Speaker 2: to read it. And they was interviewing like the neighbors.
[24:19] Speaker 2: It's like it's like all hipsters and tech people, and
[24:22] Speaker 2: they're like, yo, it's hard to even imagine those lyrics
[24:25] Speaker 2: that he rapped about now like on his block like
[24:27] Speaker 2: it was, it would be hard to imagine that, Like
[24:30] Speaker 2: this is so far and I remember even like Fort
[24:32] Speaker 2: Green like when I was young, because like when I
[24:35] Speaker 2: was young, I used to play basketball and you know,
[24:37] Speaker 2: going to like Gauchos and Riverside and God of Gods
[24:39] Speaker 2: from Brooklyn and meet gods from Fort Green. And that's
[24:44] Speaker 2: the first time I ever heard about Fort Green and
[24:47] Speaker 2: it was different, Like.
[24:49] Speaker 1: You know, who don't get no love for being on
[24:51] Speaker 1: that block?
[24:52] Speaker 2: Who's that?
[24:53] Speaker 1: Who? You know who else was on that block? I
[24:55] Speaker 1: don't Saint James between Gates and Green. Chub Rock.
[25:03] Speaker 2: Legend.
[25:04] Speaker 3: Yeah, most people from.
[25:05] Speaker 1: That's his block right across the street from Big got overshadowed.
[25:09] Speaker 2: Yeah, it's a big shadows, a big shadow.
[25:11] Speaker 1: Exactly, another big man that could rape.
[25:15] Speaker 2: That's chub Rock legend.
[25:17] Speaker 5: I think that's the first time I heard nas when
[25:19] Speaker 5: he was on like back in the Really game, I
[25:20] Speaker 5: think chub Rock was on the record.
[25:21] Speaker 3: I was like, who's this guy talking about? Way the
[25:23] Speaker 3: automatic guns and nuns? What's up, y'all?
[25:27] Speaker 5: It's the fourth quarter, it's a new month, and what
[25:29] Speaker 5: better way to start it than to coming to join
[25:31] Speaker 5: us at eyl University.
[25:32] Speaker 2: Yes, the fourth quarter is where star players make a
[25:36] Speaker 2: name for themselves. So come and joined. Number one Rosta
[25:39] Speaker 2: Eyo University is the biggest platform for business in the universe.
[25:43] Speaker 2: We have over seventy past classes, weekly classes. We have
[25:48] Speaker 2: a private investment group on Facebook which gives you access
[25:52] Speaker 2: to our movie club, our book club. We also have
[25:55] Speaker 2: bi weekly real estate calls with MG the Mortgage Guy,
[25:58] Speaker 2: and monthly financial and bus and calls with none other
[26:01] Speaker 2: than yours truly. So head over to Eyluniversity dot com
[26:07] Speaker 2: right now and into promo cod EYL for forty percent
[26:11] Speaker 2: off of our annual membership.
[26:13] Speaker 5: That's right, don't wait, don't hesitate, head over. We'll see
[26:16] Speaker 5: you on the other side.
[26:17] Speaker 2: Let's do it. You see the gentrification taking place, You
[26:23] Speaker 2: have the moment in the Dice game where it's like,
[26:26] Speaker 2: and that's a good point that you bring up too,
[26:28] Speaker 2: because it's like it's unfortunate, but nobody should have crime
[26:31] Speaker 2: brought upart them. Nobody. But like you see in neighborhoods,
[26:35] Speaker 2: like we'll commit crime against each other all day, where
[26:38] Speaker 2: you never commit crime against anybody that doesn't look like us.
[26:41] Speaker 2: Even Nipsey Hustle said that like reprogram to actually go
[26:45] Speaker 2: and train to hunt and do violence and disrespect people
[26:49] Speaker 2: that look similar to you. But when you see somebody
[26:51] Speaker 2: that looks opposite to you. You're not even gonna play
[26:54] Speaker 2: around with that because you're scared really like of repercussions
[26:58] Speaker 2: that come with that. Yeah.
[26:59] Speaker 1: The consequences, Yeah.
[27:00] Speaker 2: Serious consequences. So you saw that happening in your brain.
[27:04] Speaker 2: So you're like, all right, did you want to just
[27:06] Speaker 2: double down? Like now I got to actually really double
[27:09] Speaker 2: down on my investment strategy and bodies property before it's
[27:12] Speaker 2: too late.
[27:13] Speaker 1: It, you know, I it'd be very easy for me
[27:18] Speaker 1: to tell you right now that, Yo, I had this
[27:20] Speaker 1: master plan and I saw that and this is how
[27:22] Speaker 1: I was going to execute and this is the plan
[27:24] Speaker 1: and this was the roadmap that got nah Son.
[27:27] Speaker 2: You know, just happened.
[27:29] Speaker 1: It's happening, you know, like that's the beauty. Like when
[27:34] Speaker 1: people come on these podcasts, right, everybody chron you know,
[27:37] Speaker 1: wants to chronologic chronologic I can't say the word chronologically.
[27:41] Speaker 1: Chronologically define everything that they did right, but nobody highlights
[27:45] Speaker 1: all the mistakes and the dumb shit that they did.
[27:47] Speaker 1: And you know what I'm saying, like a lot of
[27:50] Speaker 1: mistakes were made, Like it worked out at some point.
[27:55] Speaker 1: I saw it, you know, like in the last ten years,
[27:58] Speaker 1: I've you know, it's been crystal clear, but I was
[28:01] Speaker 1: still trying to figure it out, still trying.
[28:03] Speaker 2: To what's some of the mistakes that you made? Because
[28:05] Speaker 2: you're right, people can learn. Just like they learned from information,
[28:07] Speaker 2: they can also learn from mistakes. What's some of the
[28:10] Speaker 2: biggest mistakes that you made.
[28:12] Speaker 1: A lot of the cribs that I sold too early,
[28:15] Speaker 1: sold them too.
[28:15] Speaker 3: Early, like one four I used toll got the address.
[28:23] Speaker 1: Eighty four Madison, right, So one eighty four B Madison.
[28:31] Speaker 1: I bought that crib for like four hundred thousand dollars
[28:34] Speaker 1: when it was worth seven hundred thousand dollars, and I
[28:37] Speaker 1: sold it. I sold it for nine hundred thousand dollars
[28:42] Speaker 1: in a few months. And at that time I thought
[28:48] Speaker 1: I was like the smartest dude in the world, you know,
[28:51] Speaker 1: because I copt that joint. And there's a story behind
[28:54] Speaker 1: that joint too.
[28:54] Speaker 2: Is that the one with the Nate but you brought
[28:57] Speaker 2: it because somebody else wanted it? Can you tell that story?
[28:59] Speaker 2: I think that's that's a good strategy. I would listen
[29:01] Speaker 2: to that. Can you tell that story? All right?
[29:04] Speaker 1: So I had gotten a phone call about about that
[29:09] Speaker 1: one particular property right, that one particular property. But you know,
[29:15] Speaker 1: and just like any other game, just like you know
[29:18] Speaker 1: what other you know what I'm saying, what other podcasts
[29:20] Speaker 1: are doing, and who the players are and what their
[29:23] Speaker 1: targets are. So I knew for a fact that there
[29:27] Speaker 1: was a hasidic dude who owned the two building the
[29:30] Speaker 1: opposite of that building, right, So I got the phone
[29:35] Speaker 1: call on that one, just just random somebody who knew,
[29:39] Speaker 1: you know, somebody, somebody who knew who knew somebody's auntie
[29:43] Speaker 1: or this that the other, blah blah blah. I got
[29:45] Speaker 1: the phone call, so I got I was able to
[29:48] Speaker 1: buy that crib that was worth seven hundred thousand dollars
[29:51] Speaker 1: for for four hundred thousand dollars. So I bought that
[29:56] Speaker 1: crib with no intention of doing anything to with it
[30:00] Speaker 1: except to extort the guy who owned.
[30:05] Speaker 2: The other two the other twa. He wanted the whole block.
[30:07] Speaker 1: Because he wanted to plus it just gives him power,
[30:10] Speaker 1: you know, like to have this monopoly. You get three
[30:12] Speaker 1: in a row, you know, like I'm still chasing three
[30:14] Speaker 1: in a row, like I've got you know, I got
[30:16] Speaker 1: a couple of joints where I got you.
[30:17] Speaker 3: Know, two in a row before you get the hotel exactly.
[30:21] Speaker 1: So I basically use you know, I had no I
[30:25] Speaker 1: had no desire for that building. It was not within
[30:28] Speaker 1: the confine, you know, it's not. It wasn't where I
[30:30] Speaker 1: was working at the time. But I got it, didn't
[30:33] Speaker 1: do any work to it, and held it and him
[30:37] Speaker 1: and I just went back and forth for a few
[30:38] Speaker 1: months until he gave me, you know, he gave me
[30:41] Speaker 1: the nine hundred grand. And the thing is, it's not
[30:46] Speaker 1: it might seem as if I turned four hundred and
[30:50] Speaker 1: nine hundred thousand dollars, that's not really the case. I
[30:54] Speaker 1: really turned one hundred thousand dollars into into five undred
[31:00] Speaker 1: thousand dollars in a few months because although the crib
[31:03] Speaker 1: was was four hundred thousand, I came out of my
[31:06] Speaker 1: pocket twenty percent down, which was eighty thousand plus closing course,
[31:09] Speaker 1: which was you know, hundred thousand, which I put that
[31:13] Speaker 1: put that down. But then I sold it for nine
[31:17] Speaker 1: so you know that five hundred thousand dollars profit was
[31:20] Speaker 1: made with the one hundred thousand dollars. So that is
[31:24] Speaker 1: like one of you know, the best g moves, you know,
[31:28] Speaker 1: like percentage wise, percentage wise, it's like one of the
[31:31] Speaker 1: best percentage in time was probably one of the best
[31:34] Speaker 1: G moves I've made, you know, better than Tesla.
[31:38] Speaker 5: I like, So when I heard you speaking about that,
[31:41] Speaker 5: it was like, this, do you have some reasons to buy?
[31:43] Speaker 3: Obviously cash flow is what you were doing equity, so
[31:45] Speaker 3: that was your chess move. That was ther chess move.
[31:47] Speaker 3: Then you said there's some portfolio fits.
[31:49] Speaker 5: One thing I found very interesting it was like, obviously
[31:51] Speaker 5: two thousand and seven affected the real estate game like
[31:55] Speaker 5: no other than our generation.
[31:58] Speaker 1: But you kept all your properties by hooking by crook, Like,
[32:03] Speaker 1: how did that happen? So first of all, like I
[32:07] Speaker 1: literally I literally lost everything, right, So, like two thousand
[32:14] Speaker 1: and six, I was like a hood billionaire, you know,
[32:17] Speaker 1: I was. I had a network of three million dollars.
[32:19] Speaker 1: You know, three million dollars is like a billion dollars.
[32:22] Speaker 5: A billionaire a fact, yeah, very close to a billion, right.
[32:28] Speaker 1: So but like when everything, you know, I was over leveraged.
[32:33] Speaker 1: I was spending, you know, I was in, I was in.
[32:36] Speaker 1: I was in the clubs, you know, four thousand dollar
[32:39] Speaker 1: nights like maybe two three times a month, you know,
[32:42] Speaker 1: fifteen hundred dollar nights more than.
[32:45] Speaker 2: That clubs were you frequency at this time, so.
[32:49] Speaker 3: Many from Club Cheetah to club all of.
[32:53] Speaker 1: That, you know, all of that I don't know. I
[32:57] Speaker 1: ain't actually, but you I guess all the black I'm
[33:00] Speaker 1: in parties back in the day and China Club.
[33:07] Speaker 2: I was going to clubs when I was a little kid,
[33:09] Speaker 2: like twelve years old. My brother was a promoter, and
[33:11] Speaker 2: I had a fake idea and I always looked older
[33:13] Speaker 2: than I was, So I remember these clubs like all
[33:17] Speaker 2: of the all of the clubs when I was like
[33:18] Speaker 2: twelve years old, but that might have like speed I was.
[33:25] Speaker 1: Yeah, I was there spending money, you know, like just
[33:30] Speaker 1: just getting caught up, you know what I'm saying.
[33:32] Speaker 3: You were the guy we were watching with our cups.
[33:36] Speaker 1: And just like just like when I you know, later,
[33:39] Speaker 1: I was watching Puff with my cups right right, So
[33:42] Speaker 1: it was just like the same way that promoted, you know,
[33:44] Speaker 1: made me want to go out and do more. Hopefully
[33:47] Speaker 1: you know other people did that as well. But anyway,
[33:51] Speaker 1: I lost everything by like two thousand and two thousand
[33:54] Speaker 1: and eight, right, and I had a whole bunch of
[33:58] Speaker 1: cribs and every last one of them was like underwater
[34:04] Speaker 1: because I had pulled too much cash out. You know,
[34:06] Speaker 1: I had. I had this big house in Jersey that
[34:09] Speaker 1: I was paying like seven grand a month for. I
[34:14] Speaker 1: think I had like a paint one thousand dollars for.
[34:17] Speaker 1: I had a drop six lease, you know, just everything,
[34:22] Speaker 1: you know, And yeah, the dough dough was you know
[34:31] Speaker 1: before before we had Instagram models, we had the Kse
[34:34] Speaker 1: Sleigh models in those magazines.
[34:36] Speaker 2: Yeah.
[34:37] Speaker 1: Yeah, So I had a couple of exactly, So I
[34:40] Speaker 1: had I had a couple of levels on the payroll,
[34:44] Speaker 1: so literally lost you know what I'm saying.
[34:47] Speaker 2: Literally, so.
[34:54] Speaker 3: A couple exactly.
[34:56] Speaker 1: So So after that, I woke up one day and
[35:01] Speaker 1: I was just like, yo, I went from positive three
[35:05] Speaker 1: million to like negative a million when I did the math,
[35:10] Speaker 1: you know, and I remember just being in my crib
[35:12] Speaker 1: waiting waiting to have them come, you know, like I
[35:16] Speaker 1: got all the fore closing notices and stuff like that,
[35:20] Speaker 1: and that's when I basically got on ground, you know,
[35:23] Speaker 1: Like I had like probably like forty or fifty thousand
[35:28] Speaker 1: in cash left, and that's when I got on my grind.
[35:32] Speaker 1: And I really think that I worked for like for
[35:35] Speaker 1: like the next two three years without a day off,
[35:39] Speaker 1: you know, like I was doing everything I had stopped gambling.
[35:44] Speaker 1: By then, I had opened this thing called Lost six
[35:48] Speaker 1: seventy six. It was a it was a studio like
[35:53] Speaker 1: and I used to rent that out and actually there
[35:56] Speaker 1: would have been there would be no Brooklyn Bank without
[35:58] Speaker 1: Law six seventy six because I, you know, having parties
[36:01] Speaker 1: and there and stuff like that and event space. It
[36:04] Speaker 1: was an event space. So I did that for a while.
[36:10] Speaker 1: I ended up going to going to India getting the
[36:12] Speaker 1: hair connected and I started a a hair company. Yeah yeah,
[36:19] Speaker 1: like I had the number three. I had the number
[36:22] Speaker 1: three hair Indian hair company in New York City for
[36:27] Speaker 1: like a year or two.
[36:28] Speaker 3: Well known fact.
[36:29] Speaker 1: Selects strands selects exactly. So I was doing that. I
[36:36] Speaker 1: was I had a I had a card game going.
[36:41] Speaker 1: You know, I had a card even though I wasn't gambling,
[36:43] Speaker 1: but I knew, I knew the generate gamblers. So I
[36:47] Speaker 1: was just like, yo, was this card game going? You know?
[36:53] Speaker 3: So y yo, what's up? Yeah? Yah, I about to
[36:56] Speaker 3: run this game? Ya playing? Just bring your money exactly.
[36:59] Speaker 2: So you just had to do what you had to
[37:01] Speaker 2: do to just get back with and you kept them
[37:03] Speaker 2: all kept but you were able to keep your properties
[37:05] Speaker 2: by doing all these side hustles, all.
[37:06] Speaker 1: These size twenty four hours a day.
[37:09] Speaker 2: I was.
[37:11] Speaker 1: I was Airbnb in my crib.
[37:13] Speaker 3: This is the early stages.
[37:14] Speaker 1: Yeah, that's when it was called home away and vrbo,
[37:20] Speaker 1: you know all that other stuff. So I was doing that,
[37:24] Speaker 1: you know, like letting people stay in my crib, like
[37:26] Speaker 1: five hundred dollars a night while I was sleeping on
[37:28] Speaker 1: a friend's couch.
[37:29] Speaker 2: You know, you gotta do what you gotta do.
[37:31] Speaker 1: Did what I had to do.
[37:32] Speaker 2: And then you survived. Let me ask you this as
[37:35] Speaker 2: far as the helock, let's bring it back. You spoke
[37:39] Speaker 2: about the helock. We talked about helocks before a little bit,
[37:41] Speaker 2: but you want to talk about helocks a little bit,
[37:43] Speaker 2: like the benefits of it and maybe like some things
[37:45] Speaker 2: that people may be aware of. There's a home equity
[37:48] Speaker 2: line of credit, right, different from a refine.
[37:50] Speaker 1: Yeah, no. So so basically you take a helock when
[37:54] Speaker 1: you have some equity in the property and it's it's
[37:57] Speaker 1: either a secondary lean or it could be a primary
[38:00] Speaker 1: lian depending on how much on how much equity you have,
[38:03] Speaker 1: and it's like it's basically like a credit card or
[38:09] Speaker 1: a checking account on your crib. So you're not paying
[38:11] Speaker 1: interest when you're not paying interest when you don't owe
[38:14] Speaker 1: them any money. But when you take the money out,
[38:18] Speaker 1: you're paying interest on it. So it's like, so let's
[38:22] Speaker 1: say you have a crib and it's worth a million,
[38:24] Speaker 1: and you have half a million on your mortgage, right,
[38:30] Speaker 1: and so now you could take up to eighty percent
[38:33] Speaker 1: on the helock. So that's three hundred thousand dollars line
[38:36] Speaker 1: of credits. So you you have a lian on your
[38:39] Speaker 1: property for three hundred thousand on that helock. But unless
[38:44] Speaker 1: you're using it, unless you're using the whole thing.
[38:47] Speaker 2: You don't have to pay. And that's the good thing
[38:49] Speaker 2: as far for mine. It's to correct me if I'm wrong,
[38:52] Speaker 2: as far as like with the REFI, it's essentially like
[38:54] Speaker 2: a second mortgage on your home, and you have to
[38:57] Speaker 2: pay the interest no matter what interest and principle in principle,
[39:00] Speaker 2: no matter what. But you get the money where the
[39:03] Speaker 2: home eque line of credit, you take the money out
[39:06] Speaker 2: as you need it, as you need it. It's just
[39:08] Speaker 2: available to you.
[39:09] Speaker 1: Exactly.
[39:10] Speaker 3: So are the interest rates.
[39:12] Speaker 1: Hime, the interest rates are typically around what what what
[39:20] Speaker 1: the regular regular thing is, what what you normally save
[39:23] Speaker 1: on is the closing course, because there's typically no exactly
[39:28] Speaker 1: so with with the home equer line of credit, you
[39:31] Speaker 1: always got to just do the math on all right,
[39:33] Speaker 1: I'm gonna be paying this much interest on it. I'm
[39:36] Speaker 1: gonna be paying this much interest on it, and and
[39:41] Speaker 1: if I, if I, if I make a decision, it
[39:43] Speaker 1: has to cover this interest plus make me more, you know,
[39:47] Speaker 1: Like earlier this year, I took out I banged out
[39:51] Speaker 1: all my I banged out all my helocks because I
[39:55] Speaker 1: didn't want them.
[39:56] Speaker 2: To cancel it when you can't get it. That's something
[39:59] Speaker 2: that yeah, I'm about mg Matt had said that before.
[40:02] Speaker 2: He said that before COVID. He was like, yo, yeah,
[40:04] Speaker 2: he's like, you know, take it out, yeah, because it's
[40:07] Speaker 2: like monopoly money, like if the value of your home
[40:09] Speaker 2: goes down, and that's going to affect your refile and
[40:11] Speaker 2: your your helocks. So it's like he said that, like
[40:14] Speaker 2: Coke COVID, you never know. They can just it's not
[40:16] Speaker 2: like it's guaranteed. They can cancel it. So it's like
[40:19] Speaker 2: you don't need to use it, you don't have to
[40:21] Speaker 2: use it, but at least you have it locked in
[40:23] Speaker 2: and then if you need to use it, it's available.
[40:25] Speaker 3: Now that literally happened.
[40:26] Speaker 5: I went to the bank in January because I was
[40:27] Speaker 5: going to refile, and I hit mad. I'm like, yo,
[40:29] Speaker 5: run me some numbers on the refile and I'll run
[40:31] Speaker 5: me some numbers for the helock. And I went back
[40:33] Speaker 5: to the bank in March, helock wasn't available anymore.
[40:35] Speaker 3: Yeah, I was like, oh damn.
[40:37] Speaker 1: So back in March, I had like a million in
[40:40] Speaker 1: change of helocks and I pulled it all out because
[40:41] Speaker 1: I was just scared, like I didn't want to wake
[40:44] Speaker 1: up one day, because that happened to me back in
[40:45] Speaker 1: two thousand and seven, where I woke up one day
[40:48] Speaker 1: and my helock or my heelocks were gone. So I
[40:51] Speaker 1: took this cash out, but I just I didn't want
[40:53] Speaker 1: to just sit with it in the bank, So I
[40:55] Speaker 1: ended up putting it in the market at that time
[40:57] Speaker 1: when the market was at this lowest March.
[41:00] Speaker 2: In March, you put a million dollars in the market. Yeah,
[41:03] Speaker 2: And what stock did you put it in?
[41:06] Speaker 1: Amazon?
[41:07] Speaker 2: Tesla? Apple?
[41:09] Speaker 1: Nah, Amazon Tesla?
[41:12] Speaker 2: This v G T GTD talk about that a lot.
[41:16] Speaker 1: This album V F I A X, which is a Vanguard,
[41:21] Speaker 1: which is a vanguard ts yin which is a Chinese
[41:27] Speaker 1: which is a Chinese one. Y I double n that one.
[41:30] Speaker 1: They make me no real money and I put it baba, Yeah,
[41:38] Speaker 1: I ain't make no real money on that, like because
[41:41] Speaker 1: I got that in about two hundred and it's like
[41:43] Speaker 1: two fifty now.
[41:45] Speaker 3: But that testa's a little different.
[41:46] Speaker 1: Yeah, a little different.
[41:49] Speaker 2: So you so you so all right. This is just
[41:51] Speaker 2: important for people to understand because it's like you always
[41:53] Speaker 2: got a plan for worst case scenario. So when you
[41:56] Speaker 2: sort of it's like, all right, COVID is hitting, it's
[41:58] Speaker 2: about to get crazy, don't pay it. Let me let
[42:01] Speaker 2: me gather this much money as money as I possibly
[42:05] Speaker 2: came out of my house before they shut this he
[42:06] Speaker 2: locked thing down. You get a million dollars, you say, okay,
[42:10] Speaker 2: stock market crashed, literally crashed, and probably a good time
[42:15] Speaker 2: to put money in the market might be a bottom.
[42:18] Speaker 2: You put it in at a low point, skyrockets over
[42:22] Speaker 2: the next couple of months. What did that million turn into?
[42:30] Speaker 3: He said, My CPA might advise me not to. I mean, well,
[42:36] Speaker 3: how about this, how about this? How about this?
[42:37] Speaker 2: Not that?
[42:37] Speaker 3: What it turned into?
[42:39] Speaker 5: How did you allocate the million equally throughout those assets?
[42:45] Speaker 1: Now?
[42:45] Speaker 3: Oh, you just like I'm putting one hundred thousand in Tesla.
[42:49] Speaker 1: Tesla, Tesla. I'm mad at Tesla because I only put
[42:52] Speaker 1: I only put like I think, like fifty grand in Tesla. Okay,
[42:55] Speaker 1: you know, like and I had put I put like
[42:58] Speaker 1: half a million, put like half a million Amazon Amazon, right,
[43:04] Speaker 1: and that one did well.
[43:07] Speaker 3: That did great. But I'm just I'm running the numbers.
[43:09] Speaker 5: But if that half a million would have been in Tesla, yeah,
[43:12] Speaker 5: after it ran up to like fourteen hundred, then split.
[43:15] Speaker 1: I know, I know, I know, but but what can
[43:21] Speaker 1: you what can you do?
[43:23] Speaker 3: You made money?
[43:23] Speaker 1: Part of the game, part of the game that I've
[43:26] Speaker 1: that I've learned is you know, you got to keep
[43:28] Speaker 1: looking forward the next thing, and you know, like there's
[43:31] Speaker 1: always opportunities and you'll never you'll never ever get all
[43:35] Speaker 1: of them impossible exactly like you you know, there's a
[43:39] Speaker 1: you got a handful, you know what I'm saying, and
[43:41] Speaker 1: you you know, to pick something up, you always have to,
[43:44] Speaker 1: you know, let something go to pick something up, so
[43:47] Speaker 1: you're hoping that what you're picking up is greater than
[43:49] Speaker 1: what you're letting go.
[43:49] Speaker 2: And you leveraged a lot of time. People say, like
[43:51] Speaker 2: which one is it? Better in real estate stocks. But
[43:54] Speaker 2: you leveraged both that you could do both. You could
[43:56] Speaker 2: you leverage your real estate to put money in stocks,
[43:58] Speaker 2: and then you can take the money out of stocks
[43:59] Speaker 2: and by them real estate. And it's like it's a combination.
[44:02] Speaker 2: It's a one to two punch. It's not like only
[44:04] Speaker 2: do real estate. It's not one of the only do stocks.
[44:06] Speaker 2: And that's a perfect example. You leverage money in real estate,
[44:09] Speaker 2: put it in the stock market, made a bunch of
[44:10] Speaker 2: money in the stock market, and then you know.
[44:12] Speaker 1: Yeah, so like things kind of cooled off, like Amazon
[44:17] Speaker 1: is cooled off, like I've been I've been waiting. I'm
[44:20] Speaker 1: just like, come on, come on, four thousands, come on.
[44:25] Speaker 2: Game, what happens? Die Hard?
[44:28] Speaker 1: Exactly? But we stuck at that thirty two, y'all, Like
[44:31] Speaker 1: we've been stuck, I mean three months.
[44:33] Speaker 3: This is the season though, this is the season for Amazon.
[44:36] Speaker 2: So you know, so let's let's talk about sr SROs.
[44:41] Speaker 3: Yeah. I was actually going there.
[44:43] Speaker 2: SROs because you got an interesting story about that. What
[44:45] Speaker 2: is an s RO first and.
[44:46] Speaker 1: Foremost single room occupancy in New York City where it's
[44:51] Speaker 1: a Class B apartment. So it's not it's not like
[44:54] Speaker 1: the Class A apartment. Like there's a lot of rules
[44:58] Speaker 1: and regulations that the city. The city pretty much comes
[45:01] Speaker 1: down and tells you what you can do, what you
[45:03] Speaker 1: can't do. The HPD house, the Housing Preservation Department tells
[45:09] Speaker 1: you all the things you can and can't do with
[45:11] Speaker 1: your s RO. It initially, the the s R program
[45:16] Speaker 1: was initially a program for for like the the the
[45:21] Speaker 1: dudes who came back from war so they could have
[45:24] Speaker 1: a safe place to stay and stuff like that. And
[45:28] Speaker 1: over the years, you know, like you know, the city
[45:30] Speaker 1: is mad late to always change these old things. So
[45:33] Speaker 1: all these old rules still apply.
[45:37] Speaker 3: So the Class A and what s R is the difference?
[45:41] Speaker 3: What are some of the differences. Is it like it
[45:42] Speaker 3: has to have a full bathroom or have bathroom.
[45:46] Speaker 1: Well, an apartment, an apartment, you need a bedroom and
[45:50] Speaker 1: bathroom in the kitchen in a Class A apartment. In
[45:54] Speaker 1: a in an s RO, you need uh, you need
[45:57] Speaker 1: a bedroom and you need access to a bathroom and
[46:02] Speaker 1: access to a kitchen.
[46:04] Speaker 3: Okay, you know what I'm saying.
[46:05] Speaker 1: So you don't you don't necessarily have to have have
[46:09] Speaker 1: your your bathroom and your kitchen in your unit.
[46:13] Speaker 5: So this feels like almost like college dormige exactly. Okay,
[46:17] Speaker 5: So it's like we could have the quick we could
[46:19] Speaker 5: have a quad with bedrooms and shared bathroom.
[46:24] Speaker 1: A single room occupancy, gotcha. So and the thing about it,
[46:28] Speaker 1: so now, over the last few over the last decade,
[46:32] Speaker 1: you know, like when when the market has gone crazy
[46:35] Speaker 1: and and and you know, the values of these brownstones
[46:40] Speaker 1: and buildings and stuff like that and skyrocketed, the city
[46:45] Speaker 1: has put things in the place to protect, to protect
[46:47] Speaker 1: the people, protect the tenants. Because we're living in a
[46:50] Speaker 1: blue sate state, you know, out out in Texas, California,
[46:55] Speaker 1: I mean Texas, Arizona and stuff like that.
[46:57] Speaker 3: Florida, Arizona's blueno.
[46:59] Speaker 1: Oh, but typically the red states, you don't pay your rent,
[47:06] Speaker 1: gotta go, right, But you know, New York is not.
[47:10] Speaker 1: It's not that type of place. It's not that type
[47:12] Speaker 1: of party. So there's a lot of laws that protect them.
[47:15] Speaker 1: So one of the things that protects s ros right
[47:18] Speaker 1: now is something that they call a certifically non harassment
[47:24] Speaker 1: whereas if if you before before you can convert an
[47:30] Speaker 1: SRO into a class a apartment or into a house
[47:33] Speaker 1: or anything like that, you have to get a certificate
[47:37] Speaker 1: non harassment where you know, HPD does an investigation to
[47:40] Speaker 1: find out if the tenants were harassed on their way
[47:43] Speaker 1: out or anything like that. And if that, if that's
[47:46] Speaker 1: the case, if that's the case, you're pretty much stuck.
[47:52] Speaker 1: You're pretty much stuck because they'll put like a three
[47:55] Speaker 1: year a three year penalty on you before you could
[47:58] Speaker 1: apply again. So I purchased, I purchased an SRO and
[48:08] Speaker 1: a building, right, yeah, I purchaed an SRO and the
[48:13] Speaker 1: the tenants, you know, I thought that they were doing
[48:19] Speaker 1: this the seller dirty by telling HPD that they were
[48:23] Speaker 1: harassed and sell it, don't care, sell it got their money.
[48:27] Speaker 1: So they put that three year, you know, that three
[48:29] Speaker 1: year ban on me. So I basically paid this. You know,
[48:35] Speaker 1: I paid a million plus for a Brownstone and I
[48:38] Speaker 1: can't do anything with it. I couldn't do anything with
[48:40] Speaker 1: it for three years. So I'm just sitting on this thing,
[48:42] Speaker 1: paying hard money on it, paying hard money on it
[48:47] Speaker 1: until September of twenty twenty one.
[48:50] Speaker 3: That's when you could maybe do renovations.
[48:51] Speaker 1: To renovated, flip it, do whatever it is.
[48:55] Speaker 5: It going to be more lucrative because I'm thinking, let's
[48:57] Speaker 5: I mean, I'm sure there's like a square footage requirement
[49:00] Speaker 5: that needs to that they need to have for the SRO.
[49:02] Speaker 5: And so I'm thinking like maybe an apartment that you
[49:04] Speaker 5: could get twelve hundred for.
[49:06] Speaker 1: Right I can't do anything like I can't bring more
[49:08] Speaker 1: people in because if I bring people into rented now
[49:11] Speaker 1: I'm risking.
[49:13] Speaker 3: In twenty two.
[49:14] Speaker 1: Yeah, but I don't like where the money's at in
[49:19] Speaker 1: New York City right now is getting these brownstones and
[49:21] Speaker 1: converting them into luxury you know, luxury town homes where
[49:28] Speaker 1: where you know people could people spend big money on them,
[49:32] Speaker 1: so I could turn around and sell it for three
[49:34] Speaker 1: and have four million dollars.
[49:35] Speaker 5: Yes, you're not looking for the rental income of more units,
[49:38] Speaker 5: looking for the like, Yo, somebody's coming in to buy
[49:40] Speaker 5: this for one point one exactly.
[49:41] Speaker 1: Okay, well, no, somebody's coming to buy somebody's coming to
[49:44] Speaker 1: buy this for four million.
[49:45] Speaker 3: Four million. I'm sorry, What was I talking about? One
[49:47] Speaker 3: point one?
[49:47] Speaker 1: No? No, one point one is what I paid for it.
[49:50] Speaker 1: So now I'm sitting here and I'm paying you know,
[49:54] Speaker 1: like ten ten random month, ten random month on a
[49:58] Speaker 1: property that I can't do nothing been with, you know,
[50:02] Speaker 1: But it's a it's a you know it's it's a
[50:04] Speaker 1: decision I'm that I'm making. I'm saying, all right, i'm
[50:07] Speaker 1: paying I'm losing ten grand a month, but I'm losing
[50:11] Speaker 1: ten grand a month, but I know when the time comes,
[50:15] Speaker 1: I'll be able to sell this for four mil.
[50:18] Speaker 3: So it's just another version of your chest move exactly right.
[50:20] Speaker 2: But also you said tax is a tax laws, Well yeah.
[50:23] Speaker 1: So so now I'm paying interest. So that's one hundred
[50:26] Speaker 1: and twenty grand and interest that I'm paying every every year.
[50:30] Speaker 1: So if I sell a property, if I if I
[50:32] Speaker 1: sold the property, or or if if I if I
[50:35] Speaker 1: sold if I sold my Amazon stock, so instead of
[50:40] Speaker 1: paying capital gains on X, it'll be X minus one
[50:43] Speaker 1: twenty thousand.
[50:44] Speaker 2: So because you're taking loss and you're appreciating the assets
[50:47] Speaker 2: exactly because you're losing money on it.
[50:49] Speaker 1: I'm losing money on I'm losing money on this end,
[50:51] Speaker 1: well not even losing money yet it's a business expense,
[50:55] Speaker 1: so you know you're you're taking your deduction from your
[50:58] Speaker 1: business expense, and so that brings that brings your taxable
[51:03] Speaker 1: income down, which it's what keeps what keeps money in
[51:06] Speaker 1: your pocket. So and that you know, I always say
[51:10] Speaker 1: like there's there's four different ways to get paid in
[51:12] Speaker 1: real estate the game.
[51:13] Speaker 5: You wear many hats, yes, and that obviously has happened
[51:17] Speaker 5: over time. Right, So your initial one was you're the landlord.
[51:20] Speaker 5: So at some point you decided to become the developer,
[51:23] Speaker 5: then you become the broker, and then you also become
[51:26] Speaker 5: the contractor. What was that process what led to you?
[51:30] Speaker 1: And at one part I was a mortgage broker like your.
[51:32] Speaker 5: Man, Matt, So what what was the thought process that
[51:37] Speaker 5: inspires you to say, you know what, I can do this,
[51:39] Speaker 5: I can do this, Let me do this too.
[51:41] Speaker 1: Just just trying to keep as much money in house
[51:44] Speaker 1: as possible, you know, like once you get the team together,
[51:48] Speaker 1: you get the team and everybody's working, you know, for
[51:51] Speaker 1: the common goal. Uh, it doesn't make it doesn't make
[51:55] Speaker 1: sense to to pay somebody to do something that you
[51:58] Speaker 1: could do yourself. It's cheaper, you know. And and the
[52:04] Speaker 1: more people you the more people you interact with and
[52:07] Speaker 1: you connect with on different levels, the more opportunities that
[52:10] Speaker 1: come come about. So and it also gives me a
[52:15] Speaker 1: better way to look at every opportunity because now when
[52:19] Speaker 1: I when I come to you, like when I when
[52:21] Speaker 1: an opportunity presents itself. Am I am I going to
[52:25] Speaker 1: try to Am I going to try to sell this
[52:27] Speaker 1: for you? Or am I going to try to buy
[52:30] Speaker 1: it for myself? Am I going to sell it for
[52:32] Speaker 1: you as a broker? Am I going to try to
[52:37] Speaker 1: buy it? Buy for myself? As a developer? Am I
[52:40] Speaker 1: going to say, Hey, I'll tell you what you could
[52:46] Speaker 1: buy it, but I'll be the contractor for you. You know,
[52:49] Speaker 1: I could bring it to you and say, yo, I
[52:50] Speaker 1: got this great this great opportunity for you. You should
[52:53] Speaker 1: buy this building and let me fix it.
[52:55] Speaker 3: You know.
[52:56] Speaker 1: So it's just different, you know, like different ways to
[52:59] Speaker 1: make money.
[52:59] Speaker 5: Very time you saw another position, it was like cut
[53:01] Speaker 5: the middleman, cut the middle man, cut the middle.
[53:03] Speaker 1: Man, And it's more opportunities, more opportunities, more opportunities, And
[53:07] Speaker 1: like each each hat that I wear, I have a
[53:09] Speaker 1: whole network, and so I'm talking to people and I'm
[53:13] Speaker 1: you know, that's where the opportunities come from. You know,
[53:16] Speaker 1: Like in the last twenty something years, I could probably
[53:21] Speaker 1: you know, I've done a hundred million dollars in transaction,
[53:23] Speaker 1: and I could probably tell you that only two times
[53:26] Speaker 1: that I've ever purchased something that didn't come from a
[53:30] Speaker 1: direct connect, you know, like somebody called me and said, hey, Jude,
[53:33] Speaker 1: I got a deal for you. You know, wait for
[53:37] Speaker 1: my pitch. That's my that's my line, you know. I
[53:40] Speaker 1: always wait for my pitch.
[53:41] Speaker 3: Like if if.
[53:42] Speaker 1: It's on Street Easy, if it's on if it's on
[53:45] Speaker 1: the MLS and stuff like that and everybody else can
[53:47] Speaker 1: see it, it ain't my deal.
[53:49] Speaker 2: So at this point, are most of your deals what
[53:52] Speaker 2: kind of financing? Are you cash or are you doing
[53:55] Speaker 2: traditional financing? Hard money? How how are you financing your deals?
[53:59] Speaker 1: Whatever makes sense, you know, like if if it's say
[54:03] Speaker 1: like I always do the math, right, So if it
[54:08] Speaker 1: makes if it makes sense for me to use cash,
[54:11] Speaker 1: I'll use cash if there's enough, if there's enough meat
[54:14] Speaker 1: on it where I can can use hard money, I'll
[54:20] Speaker 1: use hard money. You know, if I if if time
[54:23] Speaker 1: is not a big deal, and I could go get
[54:25] Speaker 1: traditional financing and it'll you know, like this is a
[54:28] Speaker 1: house that's gonna praise and and there's a kitchen in
[54:31] Speaker 1: the bath and all that other stuff, and and I
[54:34] Speaker 1: could go to a you know, to go to Chase
[54:36] Speaker 1: or somebody like that. I'll do that. Those are those
[54:39] Speaker 1: are my favorites, you know, But most of the time
[54:42] Speaker 1: when there's deals and opportunities, there's usually a reason why
[54:47] Speaker 1: you're getting a deal and opportunity, and not ten times
[54:50] Speaker 1: is that that it's it's a deal because traditional financing
[54:55] Speaker 1: won't do it. So you're either stuff, you have a
[54:59] Speaker 1: decision to make your they're going to use hard money guy,
[55:01] Speaker 1: you're going to use your cash or or a mixture.
[55:06] Speaker 1: What I like to do is I like to take
[55:09] Speaker 1: investors where where let's say the hard money, the hard
[55:15] Speaker 1: money guy is giving me eighty percent eighty percent, and
[55:20] Speaker 1: I'll take a couple of investors that that give me,
[55:22] Speaker 1: that give me the give me the twenty percent. So
[55:26] Speaker 1: I'm literally just coming out of my pocket. Nothing just
[55:29] Speaker 1: you know, everything is all sweat equity.
[55:32] Speaker 5: So yeah, Rick Ross is famous for having three c's
[55:36] Speaker 5: right color clarity.
[55:38] Speaker 3: That's that's his thing.
[55:39] Speaker 5: But you have an interesting analogy for your four seas
[55:43] Speaker 5: and real estate, and while they are important, can you
[55:45] Speaker 5: go over it? So you had a credit, collateral connects
[55:49] Speaker 5: and character quite all important.
[55:51] Speaker 1: Credit, you know, like like if the banks, if the
[55:57] Speaker 1: banks ain't messing with you, you're dead in the water, you know,
[56:00] Speaker 1: Like you need that money. You know, you need your credit.
[56:04] Speaker 1: It's like one of your most valuable assets. You know,
[56:08] Speaker 1: you're able to leverage, right m collateral you need either
[56:13] Speaker 1: cash or something you need. You need to be able
[56:17] Speaker 1: to prove that you have a track record, you have
[56:20] Speaker 1: you have skin in the game. You know, like I
[56:23] Speaker 1: had lost I've lost money in business dealings where I
[56:29] Speaker 1: was messing with people who didn't have any skin in
[56:31] Speaker 1: the game, so they just walk away. So it's very
[56:33] Speaker 1: important that that you have skin in the game. What's
[56:38] Speaker 1: the credit cash connects Like, it's not it's not. It's
[56:46] Speaker 1: not bs when they say your network is your network,
[56:49] Speaker 1: you know, it's just like the more people you know,
[56:52] Speaker 1: the more people, the more the more deals, the more opportunities,
[56:56] Speaker 1: the more things that come your way. Right, That's like
[57:00] Speaker 1: to me, that's the most important thing. Your connects. You know,
[57:03] Speaker 1: your ability, your ability to get it done, your ability
[57:07] Speaker 1: to know who you could call, uh, the the resources
[57:11] Speaker 1: that come to you and so forth. And the last
[57:15] Speaker 1: one is your character. If if your name is mud,
[57:20] Speaker 1: you're dead. You know, like streets talk, like in business,
[57:24] Speaker 1: everybody talking. So you do one person dirty, everybody's gonna know,
[57:28] Speaker 1: anybody gonna mess with you.
[57:30] Speaker 2: Like.
[57:30] Speaker 1: One of the things I'm really proud of is that
[57:33] Speaker 1: I've been in this game twenty plus years. Like I've
[57:37] Speaker 1: never I've never jerked anybody on a deal. I've never
[57:39] Speaker 1: lied to anybody. I've never I've never taken anything that
[57:44] Speaker 1: that didn't belong to me. And I could even say
[57:47] Speaker 1: I've never lost anybody money. Well, I lost one person money,
[57:52] Speaker 1: but I made it back for But like, there's been times.
[57:57] Speaker 1: There's been times like I've had investors invest in something
[58:00] Speaker 1: and I promised them in return and it didn't happen,
[58:03] Speaker 1: and you know, I paid out. I paid out like
[58:06] Speaker 1: like you did. Like everything went cool because I didn't
[58:09] Speaker 1: want to burn that bridge, you know, like, oh, Yo,
[58:12] Speaker 1: reinvested in this, You're gonna make excel, You're gonna make
[58:15] Speaker 1: X out of this, you know, And I'd rather pay
[58:19] Speaker 1: him that, knowing that I could go back to him
[58:21] Speaker 1: one day then come back.
[58:23] Speaker 2: Yo.
[58:23] Speaker 1: It didn't work out, Yo, You do you know what
[58:25] Speaker 1: I'm saying.
[58:25] Speaker 3: It's not gonna be work Yeah.
[58:27] Speaker 2: Yeah, I think that's Carol City Cartel. If I'm not,
[58:31] Speaker 2: I know.
[58:31] Speaker 3: But then he says, I mean, when you talk about diamonds.
[58:36] Speaker 2: Let me ask you this as far as the because
[58:39] Speaker 2: you're a developer, landlord, you're a broker, contractor. So how
[58:45] Speaker 2: important is it for people to learn all aspects of
[58:50] Speaker 2: real estate? Or do you think it is important for
[58:54] Speaker 2: people to learn all aspects of real estate? You know?
[58:58] Speaker 1: Back when I when I was doing here, right, I
[59:02] Speaker 1: went to India. I went to India and I learned how.
[59:07] Speaker 2: Did you get to India?
[59:08] Speaker 1: Yo?
[59:08] Speaker 5: In my mind, in my mind, all I can think
[59:11] Speaker 5: about is American gangs went to Vietnam.
[59:14] Speaker 2: How did you go to India to get to get here?
[59:16] Speaker 2: How did that happen? All right?
[59:18] Speaker 1: So I told you things were really bad. So things
[59:21] Speaker 1: are really bad. So what do you do when things
[59:22] Speaker 1: are really bad? You know, you have a big ass
[59:25] Speaker 1: party at your house.
[59:28] Speaker 2: That's an option.
[59:29] Speaker 3: So I remember still that was my next guest.
[59:32] Speaker 1: Remember I still had this big ass house and you
[59:34] Speaker 1: know out in Jersey.
[59:35] Speaker 2: Yeah, so as well, why not if you lose it,
[59:37] Speaker 2: you have some good memory exactly.
[59:39] Speaker 1: So I have this pool party, like two hundred people
[59:42] Speaker 1: at my crib. This that, the other people in the pool,
[59:45] Speaker 1: this that. In the next day, straight stunting. The next day,
[59:50] Speaker 1: I'm cleaning filters out and I'm pulling out hair, hair
[59:53] Speaker 1: all over, right, I'm just like, yo, who did this? Right?
[59:59] Speaker 1: So so I'm not I'm like looking at the pictures
[1:00:02] Speaker 1: to figure out what what girl? What girl you know,
[1:00:07] Speaker 1: shedding shed in my hold? And then I realized it
[1:00:11] Speaker 1: wasn't one girl. It was a whole question every girl
[1:00:15] Speaker 1: in there. I was just like, Yo, how does that's
[1:00:18] Speaker 1: what they're doing? That's where the money is at.
[1:00:20] Speaker 3: Shout out to all our women who want to respect.
[1:00:23] Speaker 1: Thank you, Thank you saved your life, saved my life.
[1:00:28] Speaker 1: But so I ended up like doing a little bit
[1:00:32] Speaker 1: research about this. And this was around the time Chris
[1:00:36] Speaker 1: Rock had that good hair thing. Yeah. And then so
[1:00:40] Speaker 1: I'm trying, like the internet wasn't popping popping like it
[1:00:43] Speaker 1: is right now, like you could get anything like like
[1:00:45] Speaker 1: that no matter. So I literally had to go to
[1:00:49] Speaker 1: India to get me a connect. To get me a
[1:00:51] Speaker 1: good connect with us, I basically have to buy retail
[1:00:55] Speaker 1: and and pretty much make a small margin.
[1:00:58] Speaker 2: So sight unseen, you just want to India and just
[1:01:00] Speaker 2: like figure it out when you get there, where'd you
[1:01:03] Speaker 2: go to?
[1:01:04] Speaker 1: And I hair capital of.
[1:01:05] Speaker 2: The world, the hair capitle of the world. Yeah, you
[1:01:08] Speaker 2: got to meet somebody there. Yeah, And they speak.
[1:01:11] Speaker 1: English, Yeah, pretty much.
[1:01:13] Speaker 2: They speak English. I do, okay, So.
[1:01:16] Speaker 1: I got the So I basically got the connect got
[1:01:20] Speaker 1: a couple of connects, like Frank Lucas.
[1:01:23] Speaker 3: I'm thinking he's going to Vietnam right now.
[1:01:25] Speaker 1: So I go out there, and you know, I stopped buying.
[1:01:30] Speaker 1: I started buying from somebody and that didn't work out,
[1:01:33] Speaker 1: and bought from somebody else, you know, until you know,
[1:01:37] Speaker 1: like you know, my first shipment was always great. And
[1:01:40] Speaker 1: then I sent you know what I'm saying, I sent
[1:01:41] Speaker 1: I had a first ship for like you know, ten
[1:01:44] Speaker 1: keys or something like that, right, and that's great, all right,
[1:01:49] Speaker 1: And then so I'm just like, all, I sent me
[1:01:51] Speaker 1: over fifty keys, right.
[1:01:54] Speaker 3: That's right, fifty keys of bundles.
[1:01:56] Speaker 1: Fifty keys of bundles. They coming in four pack.
[1:02:00] Speaker 5: Was where we titled this please fifty keys of bundles.
[1:02:04] Speaker 2: So let that go over your head.
[1:02:06] Speaker 1: Yeah. So so what ended up happening. It was like
[1:02:08] Speaker 1: when I bought the fifty keys, it was just like
[1:02:11] Speaker 1: it was like five keys was good, and it was
[1:02:14] Speaker 1: like forty five keys of garbage.
[1:02:17] Speaker 2: The tongue it wasn't getting. Yeah, so they social a
[1:02:20] Speaker 2: bad product exactly. So we got screwed over in India
[1:02:23] Speaker 2: a few times.
[1:02:25] Speaker 5: Yeah, personally, habitually, yeah, the mer app yeah yeah, yeah.
[1:02:31] Speaker 2: We started, we did we did an app and this
[1:02:34] Speaker 2: guy completely screwed us over ran us for like twenty
[1:02:37] Speaker 2: thousand thirty there was it, thirty thirty bans. Then we
[1:02:40] Speaker 2: hired another Indian to go fly from his part of
[1:02:44] Speaker 2: India to the other part of India.
[1:02:46] Speaker 3: Yeah, it was.
[1:02:46] Speaker 2: He screwed us.
[1:02:47] Speaker 3: Over and then they went on holiday for three weeks.
[1:02:51] Speaker 2: A lot of money in India.
[1:02:53] Speaker 1: He was on, he was on Zoom calls with him
[1:02:55] Speaker 1: to FaceTime.
[1:02:58] Speaker 2: What's that? Like? What's app? Calls it like one o'clock
[1:03:00] Speaker 2: in the morning, cause it's like you know, one o'clock
[1:03:03] Speaker 2: in the afternoon over there, and they acting like they
[1:03:06] Speaker 2: don't really speak English. Good, it was a whole ordeal.
[1:03:09] Speaker 1: When they want to Yeah, yeah, it's tough.
[1:03:11] Speaker 3: We should have called you man, It's naw, it's real.
[1:03:15] Speaker 2: And it's like all of these stories bring back so
[1:03:17] Speaker 2: many memories because it's like I always say, hustling isn't
[1:03:19] Speaker 2: a hobby. If you're an entrepreneur, you got to get
[1:03:22] Speaker 2: the job done by any means necessary. And it's like
[1:03:24] Speaker 2: even with us like dealing with merchant Pakistan and like
[1:03:28] Speaker 2: we interviewed Derek Grayce and his thing was in China
[1:03:31] Speaker 2: and you gotta wire these people money and you're like
[1:03:34] Speaker 2: hoping they don't screw you over. And it's like people
[1:03:36] Speaker 2: don't understand, like this is these are real stories, like
[1:03:38] Speaker 2: this really happens.
[1:03:39] Speaker 3: Really you really can run off with them.
[1:03:41] Speaker 2: Yeah, what can you do? Nothing?
[1:03:44] Speaker 1: You know. One of the one of my best flips
[1:03:47] Speaker 1: ever was I had gotten a call. It was like
[1:03:51] Speaker 1: maybe two thousand, two thousand and ten, like my man,
[1:03:56] Speaker 1: my man in my man somewhere us where called me up.
[1:04:01] Speaker 1: He was working in the docks place and he had
[1:04:03] Speaker 1: a container container full of toilet paper.
[1:04:09] Speaker 3: Right.
[1:04:09] Speaker 1: He's like, yo, I get I get you this container
[1:04:11] Speaker 1: for like literally a container for for like for like
[1:04:15] Speaker 1: twenty five hundred. It's like something in the system where
[1:04:18] Speaker 1: the like like he's like, Yo, I've been watching I've
[1:04:22] Speaker 1: been watching this containers. It's nowhere Like, yo, you can
[1:04:25] Speaker 1: have all the toilet paper in here for twenty five hundred, right, So.
[1:04:31] Speaker 2: That would have been perfect during COVID. Yeah, at the beginning.
[1:04:33] Speaker 1: Of COVID exactly. So I'm just like, yo, I did
[1:04:37] Speaker 1: the math I was just like, yo, that's not that's
[1:04:40] Speaker 1: like one hundred thousand dollars worth of toilet paper paper there, right,
[1:04:44] Speaker 1: So I'm just like, all right, So now I'm calling people,
[1:04:48] Speaker 1: you know, I'm calling like people. So my man tells
[1:04:52] Speaker 1: me he has a connector like where he supplies all
[1:04:55] Speaker 1: the bodegas, and and like, you know, I could actually
[1:05:00] Speaker 1: I said that I ended up. I ended up like
[1:05:03] Speaker 1: sending sending the thing to Panama, Like it made like
[1:05:07] Speaker 1: seventy five hundred dollars on the deal, right, But I
[1:05:12] Speaker 1: like my whole thing was like, so I'm sending you
[1:05:15] Speaker 1: twenty five hundred dollars and I've never seen this toilet
[1:05:20] Speaker 1: paper and you're telling me you're sending it to Panama
[1:05:25] Speaker 1: and somebody's going to send me ten thousand dollars back.
[1:05:29] Speaker 1: And he's like yeah. And I was just like.
[1:05:39] Speaker 3: Rolling the dice.
[1:05:42] Speaker 1: But it worked, right, But.
[1:05:49] Speaker 3: Love it, love it, you know.
[1:05:52] Speaker 1: But that's the way you lose money too.
[1:05:56] Speaker 3: That's a fact.
[1:05:56] Speaker 1: It worked out.
[1:05:57] Speaker 2: Don't try this at home.
[1:05:58] Speaker 1: But it worked out. But the truth of the truth
[1:06:01] Speaker 1: of the battle is like the best like the best
[1:06:06] Speaker 1: cons right, the best con games is when they put
[1:06:10] Speaker 1: the upside in front of you, and all you're looking
[1:06:13] Speaker 1: at is the upside potential without the downside risk. Right,
[1:06:18] Speaker 1: So what you know what I'm saying made off You
[1:06:21] Speaker 1: know what I'm saying, all all of them great scams
[1:06:24] Speaker 1: is like, oh, I'm just looking at the upside. You
[1:06:27] Speaker 1: know what I'm saying, Like if but bottom line is
[1:06:30] Speaker 1: if it's too good to be true, most likely it is.
[1:06:32] Speaker 1: You know that one incident, you know that one instance
[1:06:36] Speaker 1: it was it worked in my favor, but in hindsight,
[1:06:41] Speaker 1: like being the man that I am today, I wouldn't
[1:06:44] Speaker 1: have risked it.
[1:06:45] Speaker 2: Yeah. They had a lot of a lot of stuff
[1:06:47] Speaker 2: going like ppe like masks, like you can bodies masks,
[1:06:50] Speaker 2: And it's like it's always history, always repeats yourself and
[1:06:56] Speaker 2: there's always an opportunity for somebody to make money. But
[1:07:00] Speaker 2: you gotta be careful because like you said, I mean
[1:07:03] Speaker 2: those kind of things you hit, but you're going to
[1:07:05] Speaker 2: strike out more times than not.
[1:07:07] Speaker 1: Wait for your pitch and and like right now, I'm
[1:07:11] Speaker 1: big on taking risks, but it has to be a
[1:07:13] Speaker 1: calculator risk, and it has to be a calculator risk,
[1:07:17] Speaker 1: and it has to like I have to have a
[1:07:21] Speaker 1: definite plan to to control my downside risk. You know,
[1:07:28] Speaker 1: got gotta have those stop losses in place.
[1:07:30] Speaker 2: Stop loss that's you know, that's important in all aspects.
[1:07:37] Speaker 1: Having in place, you know, and likes as you progress,
[1:07:42] Speaker 1: you know, the more you go, like you got to
[1:07:44] Speaker 1: constantly adjust your stop losses. You know what I'm saying.
[1:07:49] Speaker 1: The other day. The other day, I I'm involved in
[1:07:55] Speaker 1: this business and I rolled up on the scene and
[1:08:01] Speaker 1: it was like a lot of high risk behavior.
[1:08:05] Speaker 3: Going on and you're analyzing the location.
[1:08:09] Speaker 1: Yeah, and then I was just like, yo, I'm making money,
[1:08:14] Speaker 1: but I have to shut I got to remove myself
[1:08:16] Speaker 1: because you know, one my reputation to insurance.
[1:08:22] Speaker 2: You know what I'm saying, you get killed.
[1:08:24] Speaker 1: Yeah, yeah, it's just like, yo, this is this is crazy.
[1:08:28] Speaker 2: Dangerous, pretty dangerous.
[1:08:29] Speaker 3: It's behavior.
[1:08:31] Speaker 1: It was, you know, there was nothing the fairy is
[1:08:34] Speaker 1: going on. But it's just like like you get every uncomfortable,
[1:08:37] Speaker 1: every step, every step you're taking life, you gotta you know,
[1:08:40] Speaker 1: like like you ain't got I think Jay hasn't said
[1:08:45] Speaker 1: as a line with like yo, I ain't gotta be
[1:08:47] Speaker 1: in the projects all day or something like that.
[1:08:50] Speaker 2: They talking about in the projects. All that sounds stupid
[1:08:53] Speaker 2: to me.
[1:08:55] Speaker 1: So at some point, like as you elevate, you can't
[1:09:00] Speaker 1: be doing the same things you were doing and you
[1:09:02] Speaker 1: can't take the same risks.
[1:09:04] Speaker 2: I'm saying, No, it's very true and rest in peace
[1:09:06] Speaker 2: to one of our biggest inspirations, lift your hustles great
[1:09:09] Speaker 2: And it's an unfortunate situation. But sometimes you stay around
[1:09:12] Speaker 2: too long. Jealousy, envy, just and just random things happen
[1:09:16] Speaker 2: in certain neighborhoods where it's you have to elevate in
[1:09:22] Speaker 2: life and you can't stay in the same environment that
[1:09:25] Speaker 2: you might have grew up in that you once felt comfortable.
[1:09:28] Speaker 2: At some point some one, things that make you use
[1:09:31] Speaker 2: to feel comfortable make you feel uncomfortable at you should
[1:09:34] Speaker 2: feel uncomfortable, and if you feel comfortable, you have to
[1:09:38] Speaker 2: ask yourself why you feel comfortable.
[1:09:39] Speaker 1: Yeah, it's just like like keeping it real or or
[1:09:46] Speaker 1: keep you know, like you One of one of the
[1:09:51] Speaker 1: things that I always try to try to try to
[1:09:55] Speaker 1: say to myself is I'm not going to be loyal
[1:09:58] Speaker 1: and I'm not going to be faithful to my old self.
[1:10:02] Speaker 1: You know what I'm saying. Yeah, it's just like yo,
[1:10:05] Speaker 1: just because I said it, Just because I said it,
[1:10:08] Speaker 1: you know, five years ago, two years ago. You know,
[1:10:12] Speaker 1: doesn't mean that it has to stand true, right, you know,
[1:10:17] Speaker 1: and you know not for nothing, never give my heart
[1:10:22] Speaker 1: to something like whatever. Yeah, and it's just like you
[1:10:25] Speaker 1: he's married, he's married.
[1:10:26] Speaker 5: Yeah, evolution, you know, But it's the saying it isn't
[1:10:30] Speaker 5: that same lineage of the growth of him and just
[1:10:33] Speaker 5: us listening to the music. It was like we watched
[1:10:36] Speaker 5: him at that point, we watched him become a mature
[1:10:38] Speaker 5: husband and father, and the same line.
[1:10:40] Speaker 3: It's like, yo, I ain't work that hard to be
[1:10:42] Speaker 3: the same.
[1:10:42] Speaker 1: Yeah, you can't. You can't be scared to contradict yourself,
[1:10:46] Speaker 1: you know what I'm saying.
[1:10:47] Speaker 3: So the betterment of your right right right, Like.
[1:10:51] Speaker 1: That's how some backwards that's also true.
[1:10:53] Speaker 2: And you can do that the next day if I
[1:10:55] Speaker 2: don't feel if I don't feel the same way I
[1:10:57] Speaker 2: felt yesterday, I changed my mind. At any point in time,
[1:11:01] Speaker 2: you can reserve the right to change your mind and
[1:11:03] Speaker 2: completely become a different person. That's why I don't. I
[1:11:05] Speaker 2: don't really get into politics too much because the whole
[1:11:08] Speaker 2: things that you said twenty years ago, like you said this,
[1:11:10] Speaker 2: yeah I was it was nineteen eighty four, I'm a
[1:11:13] Speaker 2: different person now. I was like, you can't be held
[1:11:16] Speaker 2: accountable for things that you said thirty years ago. I
[1:11:20] Speaker 2: mean it's like Dame said, like I was pulling Champagne
[1:11:22] Speaker 2: on girls, like I was out of my mind fifty
[1:11:26] Speaker 2: years old. Now I wouldn't do that now, can't help.
[1:11:28] Speaker 2: You can't hold me accountable for what I did when
[1:11:30] Speaker 2: I was twenty eight.
[1:11:33] Speaker 1: It's it's wild man like, if if you ain't growing,
[1:11:37] Speaker 1: you staying the same sid So let.
[1:11:40] Speaker 2: Me ask you this, speaking about growing's ended out on this.
[1:11:43] Speaker 2: You have a nonprofit, the Brooklyn Bank. What is the
[1:11:46] Speaker 2: Brooklyn Bank?
[1:11:47] Speaker 1: The Brooklyn Bank? The Brooklyn Bank is like my give
[1:11:50] Speaker 1: back right, So here I am and keeping it real
[1:11:56] Speaker 1: one hundred percent right. I make my money buying properties
[1:12:02] Speaker 1: cheap and selling it to people high. And unfortunately most
[1:12:08] Speaker 1: of the people that I sell to they don't look
[1:12:11] Speaker 1: like me. M hm. So I love my people. I
[1:12:15] Speaker 1: care about my people. So what I what I did
[1:12:19] Speaker 1: was I went and I actually bought the building, the
[1:12:22] Speaker 1: Broken Bank, a nice six deca but bedsty real bedsty,
[1:12:27] Speaker 1: not you.
[1:12:27] Speaker 2: Know, real best.
[1:12:32] Speaker 1: So so basically, so basically I started to nonprofit where
[1:12:39] Speaker 1: I have a building where I I do financial literacy
[1:12:43] Speaker 1: programs like tomorrow we we giving out toys to the
[1:12:47] Speaker 1: kids Thanksgiving. Thanksgiving, we literally gave out a thousand turkeys
[1:12:53] Speaker 1: and a thousand things of bags of groceries and stuff
[1:12:56] Speaker 1: like that. So that's that's my personal gift back, you know,
[1:13:01] Speaker 1: my my opportunity to kind of even it out. Like
[1:13:07] Speaker 1: the Brooklyn Bank, what what it's really about is about
[1:13:11] Speaker 1: financial literacy, financial empowerment, and economic empowerment. So I'm really
[1:13:15] Speaker 1: big on teaching, you know, whether whether it's budgeting, whether
[1:13:19] Speaker 1: it's saving, whether it's credit, whether it's real estate, whether
[1:13:23] Speaker 1: it's it's docks, just trying to share the information because
[1:13:29] Speaker 1: you know, like you guys do a really great, great
[1:13:31] Speaker 1: job on this platform of making the information available to
[1:13:36] Speaker 1: those to those who probably could not get it elsewhere.
[1:13:40] Speaker 1: You know, and you make, you know, you bring, you bring,
[1:13:44] Speaker 1: you bring the right people on where it's it's not foreign.
[1:13:49] Speaker 1: And that's the problem. A lot of times people think
[1:13:51] Speaker 1: think that these things are out of their out of
[1:13:54] Speaker 1: their out of their reach. So I basically wanted to
[1:14:00] Speaker 1: provide a space, a community, a mindset, and an organization
[1:14:05] Speaker 1: where it's where we're focused on letting people know that, yo,
[1:14:09] Speaker 1: you could do this, you know this whole like my
[1:14:14] Speaker 1: whole real estate thing, right, my real estate, my business
[1:14:17] Speaker 1: and all that other stuff. I didn't invent anything like
[1:14:23] Speaker 1: like I've made tens of millions of dollars. Like, I
[1:14:28] Speaker 1: didn't create anything. I didn't make anything better. I didn't
[1:14:31] Speaker 1: revolutionize anything. I'm just following the brue print that you
[1:14:36] Speaker 1: know that Andrew Jackson was doing back back in the
[1:14:40] Speaker 1: back in the seventeen hundreds. You know, like you buy,
[1:14:43] Speaker 1: you buy land, and and and you take take that
[1:14:46] Speaker 1: value and you reinvest and this that the other and
[1:14:49] Speaker 1: and and you know, you you practice discipline, you practice
[1:14:53] Speaker 1: delayed gratification. You know, all these little things like these
[1:14:57] Speaker 1: are all the little things that people have to learn
[1:15:01] Speaker 1: so that they could elevate themselves.
[1:15:03] Speaker 5: So is it is it an event space or is
[1:15:05] Speaker 5: it like almost like a community center where anymore community
[1:15:07] Speaker 5: center people can come in from it.
[1:15:09] Speaker 1: And we were doing events, we we kind of put
[1:15:11] Speaker 1: that on pause, like like right now I'm focused one
[1:15:16] Speaker 1: hundred percent on doing doing community things. And we're going
[1:15:21] Speaker 1: into schools and you know, bringing in financial literacy stuff.
[1:15:25] Speaker 3: So you just partnered with a school.
[1:15:27] Speaker 1: Yeah, we partnered with a school the other day. I
[1:15:30] Speaker 1: didn't research on you guys. I tell you, guys, we've
[1:15:32] Speaker 1: been in the school for years.
[1:15:33] Speaker 3: Yeah, yeah, I'm a teacher.
[1:15:34] Speaker 1: Okay, so that's dope. But that's really what I'm trying
[1:15:38] Speaker 1: to do, you know, Like, like there's a in regards
[1:15:43] Speaker 1: to money, right, Like whether whether you have ten million,
[1:15:50] Speaker 1: twenty million, one hundred million, or a billion dollars, right,
[1:15:55] Speaker 1: the price the price of a steak is a price
[1:15:57] Speaker 1: of a steak, so everything else excess, right. It's like,
[1:16:02] Speaker 1: so that's kind of I'm you know, I'm blessed that
[1:16:06] Speaker 1: I'm not at a point in my life where like
[1:16:11] Speaker 1: another check does not change my life, you know, not
[1:16:14] Speaker 1: not change the life that I that I enjoy leading.
[1:16:17] Speaker 1: You know, you had a dude up here. I was
[1:16:21] Speaker 1: watching an episode and he said, yeah, well I got
[1:16:23] Speaker 1: a bigger plane now. Yeah him shout out to him,
[1:16:32] Speaker 1: Yeah to him if he wants a bigger plane. But
[1:16:34] Speaker 1: it's just like I'm at a point in my life
[1:16:36] Speaker 1: where I'm comfortable, you know, like like I don't want
[1:16:41] Speaker 1: to I don't want to be the dude in a
[1:16:44] Speaker 1: ferrari if everybody can have a Ferrari, you know, because
[1:16:48] Speaker 1: then then you're looking crazy. You look like what I'm saying,
[1:16:51] Speaker 1: you look like put.
[1:16:52] Speaker 3: You on the menu. Yeah, so you.
[1:16:55] Speaker 2: Know everybody got Borghinis in Atlanta.
[1:17:00] Speaker 3: Yeah exactly, that's the best start that that's gonna be tough.
[1:17:03] Speaker 1: There's no COVID in Atlanta.
[1:17:05] Speaker 3: Top that also might be true.
[1:17:07] Speaker 2: That's fact a fact.
[1:17:09] Speaker 1: So that's that's the Brooklyn Bank to me, you know,
[1:17:11] Speaker 1: like it's a community. It's it's it's and it's funny
[1:17:15] Speaker 1: because like when I talk to Brooklyn Bank, a lot
[1:17:17] Speaker 1: of times people just think about the physical location, which
[1:17:20] Speaker 1: is cool, you know, because I'm sometimes still in awe
[1:17:24] Speaker 1: of it. It's just like you got you own a bank.
[1:17:27] Speaker 3: It was was it a church first or was it
[1:17:28] Speaker 3: a bank?
[1:17:29] Speaker 1: Church?
[1:17:29] Speaker 3: Then bank?
[1:17:30] Speaker 1: It was a bank. Yeah, Like it was built. It
[1:17:33] Speaker 1: was built as a bank. Like the whole thing is
[1:17:35] Speaker 1: is like sixteen inch cement in concrete and bricks right
[1:17:40] Speaker 1: with a vault, with a vault and everything. And then
[1:17:45] Speaker 1: in the eighties they started using it as a church
[1:17:48] Speaker 1: when when the bank went under, shout out to economics.
[1:17:52] Speaker 1: When the bank went under, they started using it as
[1:17:56] Speaker 1: a church. And then I took you know, I got
[1:17:59] Speaker 1: that and originally, like my line brother had hooked me
[1:18:06] Speaker 1: up on that deal because I got you know, like
[1:18:08] Speaker 1: there was mad people trying to get that building, you know.
[1:18:12] Speaker 1: And one of the one of the caveats of of
[1:18:16] Speaker 1: how I got it, because of how I got it
[1:18:18] Speaker 1: and how I how they accepted my bid instead of
[1:18:22] Speaker 1: some of the other bids that was higher, is that
[1:18:25] Speaker 1: I promised that I would keep doing good working there,
[1:18:28] Speaker 1: you know, like I wouldn't turn it into a strip
[1:18:30] Speaker 1: club or I would knock it down and build condos
[1:18:34] Speaker 1: or nothing like that.
[1:18:35] Speaker 2: More employees. Atlanta might argue that that might be support
[1:18:42] Speaker 2: black business. Shout out the Blue Flint, Shout out to the
[1:18:45] Speaker 2: Magic City, shout twelve, support black business, Support business. I digress, Rolex,
[1:18:54] Speaker 2: I see.
[1:18:57] Speaker 3: Look up because it's snowing, and tousies digress.
[1:19:06] Speaker 2: Okay, Well there you have it, ladies and gentlemen. Ude,
[1:19:10] Speaker 2: it's been a pleasure man, and once again, thank you
[1:19:12] Speaker 2: for teaching that class on Eyo University. That was dope.
[1:19:15] Speaker 2: And tell them about that your experience. I know you
[1:19:17] Speaker 2: answered questions for like an hour and a half, like
[1:19:19] Speaker 2: how was that teaching it?
[1:19:20] Speaker 1: It was dope because like prior to like I kind
[1:19:26] Speaker 1: of have it in my in my head, how I
[1:19:29] Speaker 1: go about analyzing the deal. So prior to that, I've
[1:19:32] Speaker 1: never really written it down, written the formula down, and
[1:19:36] Speaker 1: and and and wrote it down. So I'm like looking
[1:19:39] Speaker 1: at its like, hey, this is this is real, you know,
[1:19:41] Speaker 1: this is what I do. And it was It was
[1:19:45] Speaker 1: very It was pleasing because like the sometimes sometimes I
[1:19:51] Speaker 1: talk to people and it's just like they don't get it.
[1:19:57] Speaker 1: But it was good to be in a platform, you know,
[1:20:02] Speaker 1: where your earners like, this is what they do, and
[1:20:04] Speaker 1: this is what they're trying to this is what they're
[1:20:06] Speaker 1: trying to do and they're not. The questions were intelligent
[1:20:10] Speaker 1: questions and they you know, you know you as a teacher,
[1:20:16] Speaker 1: you know how it feels like.
[1:20:17] Speaker 5: When every every question is a good question exactly exactly. Now, yeah,
[1:20:22] Speaker 5: I understand because like when when sometimes when a question
[1:20:25] Speaker 5: is phrase, you can tell somebody's been critically thinking. And
[1:20:28] Speaker 5: that's important, right because it's like, all right, I know
[1:20:30] Speaker 5: that that's coming from a place of wanting to know,
[1:20:33] Speaker 5: not just I just wanted to say something. And so
[1:20:36] Speaker 5: shout out all the earners that asked all those because
[1:20:38] Speaker 5: we watched the presentation, pretty do.
[1:20:40] Speaker 2: I didn't get a chance to watch the whole question answer.
[1:20:42] Speaker 2: But they told me it lasted two hours, which is
[1:20:44] Speaker 2: longer than usually. So I know that there was a
[1:20:46] Speaker 2: bunch of questions and answers. So that's dope. You said
[1:20:49] Speaker 2: most everybody got their question answered, So that's dope. Yeah, Like.
[1:20:55] Speaker 1: You know, my goal, my goal, My personal goal is
[1:20:58] Speaker 1: like like I said, I've made a lot of I've
[1:21:00] Speaker 1: made a lot of mistakes. You know, like there's there's
[1:21:03] Speaker 1: no reason why I'm not sitting, you know, sitting on
[1:21:07] Speaker 1: nine figures right now, except that I made a lot
[1:21:10] Speaker 1: of mistakes. And you know, my goal is to make
[1:21:15] Speaker 1: sure that people don't necessarily make the same mistakes that
[1:21:19] Speaker 1: I made. You're gonna make your own mistakes. But there
[1:21:21] Speaker 1: are a lot of There are a lot of mistakes
[1:21:23] Speaker 1: that I made that could have been avoided if somebody
[1:21:25] Speaker 1: had just pulled me to the side, or if there
[1:21:27] Speaker 1: was a platform like yours where where I could get
[1:21:31] Speaker 1: the knowledge.
[1:21:32] Speaker 2: That's a fact. So how can people contact you? Social
[1:21:36] Speaker 2: media handles? What's the information Brooklyn Bank or any other
[1:21:38] Speaker 2: initiative that you want to make the public aware to two.
[1:21:41] Speaker 1: Places you can get in touch with me. You can
[1:21:42] Speaker 1: get in touch with me at the Brooklyn Bank. That's
[1:21:46] Speaker 1: the Brooklyn Bank as it's spelled, and you could hit
[1:21:49] Speaker 1: me on I g at mister Jude Bernard m R
[1:21:54] Speaker 1: dot j U D E B E r N E
[1:21:56] Speaker 1: r D.
[1:21:57] Speaker 2: Thank you, Troy Housekeeping item.
[1:21:59] Speaker 5: Shout out to everybody on pretty sureon dot com. Y'all
[1:22:01] Speaker 5: know that's our proud to paid program. We referenced NIPPED
[1:22:04] Speaker 5: and that's what we got the idea from. So again,
[1:22:06] Speaker 5: rest in peace to NIP. Shout everybody in Crenschell. Shout
[1:22:08] Speaker 5: shout to everybody that showed us love out there when
[1:22:11] Speaker 5: we visited the West. And obviously you know if Tier
[1:22:14] Speaker 5: five members you get access to eyl University where you
[1:22:16] Speaker 5: can get some good knowledge from some solid professors man,
[1:22:19] Speaker 5: and the exceptional profess exceptionals.
[1:22:21] Speaker 3: Top of the line.
[1:22:23] Speaker 5: So we appreciate all the support and shot everybody that
[1:22:26] Speaker 5: has been copying in New Merch. I know, y'all, I
[1:22:27] Speaker 5: know y'all saw that that varsity jacket that my boy
[1:22:30] Speaker 5: had on looking looking Chris out there, man, So shout
[1:22:34] Speaker 5: everybody that's supporting that.
[1:22:35] Speaker 2: Man.
[1:22:35] Speaker 5: We are very excited to have it and seeing everybody
[1:22:37] Speaker 5: wearing it is uh is a testament to hard work man.
[1:22:41] Speaker 3: So salute to all y'all.
[1:22:42] Speaker 2: Yeah, and once again shout at you all university. And
[1:22:45] Speaker 2: that's people ask like, what's the difference between this and
[1:22:47] Speaker 2: the podcast, and it's like our question and answers with
[1:22:50] Speaker 2: somebody that you know has forty million dollars in real estate.
[1:22:52] Speaker 2: It's not something that you get to do every day
[1:22:54] Speaker 2: and to have a PowerPoint presentation and stuff like that.
[1:22:57] Speaker 2: So these are different things that we bring to Eyo
[1:22:58] Speaker 2: University and we're very, very proud of that platform. So
[1:23:02] Speaker 2: shout out to all the earners out there. Thank you
[1:23:04] Speaker 2: guys for rocking with us. We'll see you next week.
[1:23:07] Speaker 1: Peace peace, My graduates from my school being force back
[1:23:14] Speaker 1: drop back drop, Mike drop, back drop drop

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