5 Biggest Mistakes That Flippers Make Ft. Derek Boone

Welcome to the real estate newsroom. Today's headlines, guys, is very alarming. Please cover your eyes if you are afraid to see violence. Let's take a look.

And lord. Shoved down the stairs by a tenant.

When he went to collect the rent.

That tenant is now under arrest. Tonight. Eyewitnesses reporter Lucy Yankee.

You heard about that before, bro.

15Th Precinct station house in Jackson Heights, New York, bro.

The video is so shocking.

He going to collect his rent the.

Moment his head smashes onto the concrete.

We didn't expect this to ever happen. Crazy dream, you know, a nightmare.

71 year old Edgar Moncayo was simply trying to collect rent from one of his tenants. Sunday afternoon we're told the renter had missed at least a month's payment, had given the landlord problems and was threatening to leave without paying. The house is on 102nd street in Corona, Queens. The great.

Yo bro, one month is like you. Are you going to your tenant's house after a month late?

First, I'm not going to my tennis house at all, period. One, I'm not going to my tennis house. Second, there's only about two tenants that actually know. Three. There are three tenants that actually know who I am.

Yeah.

And four once. People don't understand. Here's the thing, people don't understand that you don't have to do all this physical stuff in amount of an amount of time and amount of energy and also cost that you're about to spend. You can literally pay a lawyer physically $1500 and they'll go ahead and do start the process for you without you actually having to go ahead and handle a lot of this stuff like they doing.

I don't know if he was he older. He's 71. Right.

He old school with it.

Sad story. Like I never want to hear anything like that from a landlord. But it looked like he was just going to collect the rent. Dude shoved him and he just like he fell in, hit his head.

Yeah.

Which is crazy, bro. So, so sound like you got your whole. Sound like you got a. I know you're a systems guy, right? It sound like you got your whole systems and process in place already. So the, the tenants, the, the portfolio that you manage, you never go and collect rent or like get rich yourself.

So all my tenants pay on an online payment portal and then I have three tenants that don't pay in an online payment portal. I had one of my contractors which he built the house and then he ended up wanting to move into it. He's not even from America. He's Mexican. So he can't. I don't even think he's legal. He told me the story how he jumped the wall. Yeah, yeah. You know, like, that's a whole nother conversation. But the stuff that's online in the media, when it comes to immigration stuff is not the same. That's what's really going in real life. That's a horse. That's a whole nother conversation. But that's for one, this. But he can't even get a bank account. Bank account. So he has to pay me. You know, that's the exception person. The second I got an older lady where she was having so many issues with the pain portal every single month to where we kind of just like, all right, you just cash. And then the third person, which is another older person, which you do cash.

All right, cool. Everybody else is on a portal for the audience today. We got my guy, Derek Boone on Instagram. DS Boone, appreciate you coming through, man.

Appreciate you, man.

Hey, we clicked all initially since we first met. I think we did like a live online, like out of nowhere, just, yeah, random. The same people. And we found out, like, we do something that's so similar.

Right.

And our real estate practices are similar too. I changed though, man. I've been seeing so many of these articles. I'm kind of phasing out of that whole landlord thing because I'm realizing, like, sometimes you put so much money into a property and the people that you depend on to pay you back, they not the type of people that I want to put on the back end, responsible for paying me more like $100,000 investment.

So I think that you can still become a landlord. So the problem that people have right now that I see is people think there's only one lane in real estate.

Yeah.

They think, oh, I gotta find a tenant on Craigslist or whatever. Find a tenant some way and then put them in there and then just pray they pay or I gotta flip properties. People don't understand that you can become a real estate wholesaler. You can be a developer, you can be a flipper, you can be a landlord. You. You can be. It's so many other lanes. And once people start understanding that, then they can realize, okay, real estate is. Is something I can get into. I don't have to do that. Like, for example, for us, we have some tenants on Section 8. We have some tenants privately we found on our own. But then we do something called VRBO and furnish finders. So it's. It's called midterm. Rentals. So what we do is we'll go ahead and furnish a unit. And the thing about it is, like, we. We furnishing some of this stuff is mismatched. Like, we not making this look like Taj Mahal. We just getting quality stuff from Facebook marketplace. I got some stuff from my grandma house. Like, hey, look, you still using that painting. Let me get that. And now if I have a place that's running out for $1,300 a month, I'll put it up on Vrbo furniture for $2,000 a month. And the thing about that is they pay up front. Okay, so you already got the money beforehand. They might stay for six months, seven months. The longest person I ever had to stay on one of those platforms for a year. So you basically getting this money up front, right? And you get money up front, you getting pretty nine times in a higher quality client because they're able to pay money up front. And then the other piece is. It's insured. So I had one issue where the bid had broke the bid. I paid 300 for the bid. Fixed marketplace. Vrbo sent me $1,500.

Nice, bro. You teaching already?

Like, I'll be trying to get straight into it.

I think it's like, part of you, like, just to give, because it's just like a level where you get personally, like, personal maturity. You realize, like, what you know is good for you, but it's kind of better if shared and you see other people take advantage. So that's dope, bro.

That's a gift and a curse.

I' ma say this. You get favor, don't you? What you mean, like, things go your way?

Yeah, things go my way. Yeah, things definitely go. But I got the mindset it's not going to not go my way. It's going to go my way. And I think that's the mindset a lot of people. There's no. No, it's just. There's another door. But the. The problem is I'm always in solution mode or how we can fix how we. You know, sometimes you talk to different people. It may be even like, you know, a close relative. They might just be venting. I'm over here, like, all right, this is how we go. I'm always. I'm always teaching. I'm always talking solution. I'm always talking plays. I don't like the small talk. That's one of my problems. I don't like the small. I want to talk about how we gonna make something.

Yeah, me too, bro. But I like Teaching. And I noticed, right. Even if I teach, it doesn't. It's not going to hurt me. In real estate, right? You can't get every VRBO or every renting, every rental. You can't get every vacant property and the area that you focus. But what I've realized though, is that teaching, it just brings me. It finds a way to circle back, to give me, like, blessings and favor. There's so many things that go wrong around me, and for some reason I just get like. Like I navigate through for some kind of way. And I know that when people thank me for teaching, like, it. It. It blink. Brings a blessing to me. Yeah, I know.

I got like sleep good at night.

Yeah, yeah. And I know I'm lucky to some extent. Like, I know, like, because I've taught so much and I see you do free, free webinars and stuff all the time. Like, I know that stuff. Like, the universe has a way to find it back to us.

That's a fact.

Yeah, bro. All right, so what else do you teach? Because so what you know and what you just said, I've been in real estate 20 years. I don't really know that information. How did you get into real estate and how you found out about all of that? Like, so you went through like four ask four ways to make money in real estate. Just now, not even you ain't even realized, like, people I don't know how to wholesale and I don't know that vrbo, Airbnb space like that.

Yeah.

How you learn all that?

I'm big on doing things. What we're doing now, connecting, having conversations that matter. If people follow this same mindset, they're always going to win. Having conversations that matter. Conversations that matter lead to thoughts that matter. Thoughts that matter lead to action that matter. Because if we just talking about this tonight, in the middle of the night, VRBO may pop up in your head and they like, dang, you know what? D might wake up tomorrow and actually might actually try to execute on that. So that's just. I just always find myself getting. Not find myself always make sure I get in rooms like this where we just having these conversations. And that's how I learned the VRBO game from one of my friends. And we just was having a conversation, was working. Was not working for you. And he just threw it out there. And I'm like, let me at least give it a try. And then it. It hit. I'm like, dang, I can rent this place out for, let's say a thousand and somebody Want to stay here for 2000? I'm like, yeah, no brainer.

That makes sense.

Yeah.

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Now to execute on something like that. Me, personally, I've always, I'm a say, been like a fan of yours. Watching you teach, watching you do what you do, the level that you share. I never told you that, by the way. I told you, like, you know, like, we just got a mutual respect. But now I'm a fan of yours because, like, the way that you teach, the passion, the integrity and. And seeing, like, where you are and how far you've gotten at your age is what's, like, super impressive to me.

I appreciate that.

Right. I don't see that a lot in my community. Like, so I live in New York. You live in. You're from Philly.

I don't see that a lot.

My younger guys are, like, hungry for knowledge, but they don't. Like, they not there yet.

Yeah.

I don't know anybody, like, from my neighborhood, from the Bronx. That's, like, as far as advanced as you are. So I appreciate you.

I appreciate that, man. Just.

But just for going and get it like that.

Yeah.

Do you think in your mind that you're special?

So this is another problem that I have with myself, and I had this conversation with several people. Like, I even do therapy. One of the best things I've done for myself is go to therapy. I started a year ago. I do it every two weeks. And so this is me having a vulnerable moment with you. I feel like I'm special, but I don't feel like I'm special. At the same time, I feel like I'm special because, like, you should have some type of thought about yourself. Like, you know, I am the guy. I am the man. I am special. But onto the level of, like, I'm the only star in the sky, I don't think that, like, I'm the special person. I don't. I don't think that. Yeah.

But I'm sure, you could relate. They're like, a lot of people around you that aren't where you are. So do you not think, like, ever, like, you're different or, like, next level?

You know, I think, you know what the problem that, like, people like you and I, we do this so easily that we forget how. Like, we can buy a house tomorrow. Like, literally just do it to where we realize, like, for some people, that's just the craziest thing in the world. So I think that's what kind of dims are special a little bit. Because we, like, somebody say, like, yo, man, I'm working on getting, like, for example, I just heard somebody say this yesterday. It was like, yo, I'm working on getting this car. And it was a car that was just like. It was a. This is a regular everyday car, like an economy car. And in my mind, I'm just thinking, like, I just. Right. You know. But sometimes we. You catch yourself in a moment like, no, this is like, that's a real thing. It's just, we do this stuff so frequently. I own multiple cars right now, so it's just like, oh, just grab a new car.

People tell it to me every once in a while. Well, I'm gonna say, remind me. So I know, like, I. I could do. I do stuff that means so much to people so easily. And I think that's like a gift that I like. It comes natural to me. And problems that people have, sometimes I'm able to solve them kind of quickly, like, oh, I could fix that. Or like, do this and you can fix that. So I think there is something. Something special about people that teach and give. That is unique because so for my upbringing, I didn't see a lot of people teaching. I didn't see people that were far ahead financially and far ahead from a maturity standpoint to turn around, go back to the hood and say, yo, here's a legal way to make money. I didn't really see all of that. Yeah, yeah, bro.

So, you know, a lot of people is you have people around us teaching from wisdom, not teaching from game. Like, yo, here's the things you should not do. Because, man, I'm in this spot right now. I'm broke right now because I did X, Y and Z versus somebody saying, yo, you should make sure you do this, because I'm up a million off of this. Yeah, a lot of us have the wisdom people around us, but we don't have a game. Like, we all know somebody that's down bad that may probably was in a good spot 20 years ago, and they like, yo, don't do this because I still ain't recover. We need those people are important, but we still need the people like you and I. That's. Hey, look, listen, we made it out, and we're still doing it. You know what I mean?

Now, do you find this right? Do you find people that you're showing that you know that's watching you do what you do but won't do it?

Yeah.

Like, so you got a group of people that, you know that's watching you buy a property renovated. Because you'll be in your properties, right? They be bare bones. Then you show them renovated, and they still won't. Like, yo, bro, like, take me with you on the next one or show me, bro, you.

You know, I'm gonna tell you some real stuff. I literally have 1, 2, 3, 4. I have four people. Like, four very close people. 1, 2, 3. Yeah, four very close people. Shoot, you might as well say five. I'm on name drop. Is one other person that literally. When I have free events. Yeah, you come. When I have paid events, like property tours. Just come. I'm gonna make sure I save spots on the Sprinter for you. Yeah. When I have. Or I'm. Yo, listen, just get in the car. You drive behind us. But you can still come to the property, still get all the excess. Yo, here's the course. Here's this. Like, we're literally giving them everything. Come to the events, come to this. Here, listen. On a zoom. And they still don't do it like how you said. And it's more so of. It's two reasons. One is a imposter syndrome. Like, that's boom thing. That's what he can do. I can't do it. Even though I'm showing you the whole.

Blueprint firsthand and step by. And they got access to.

And I'm giving you personal access that everybody else don't got. But it's still like, that's boom. That's what he can do. That's not what I can do. So I feel like with everybody, but specifically those five individuals and we remove their imposter syndrome, they'll be. They'll. They'll. They'll be passing me because they know it firsthand.

Right? Right.

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I give people access to me too, in everything I do. Like my people, they don't take advantage of it.

No, no, no, no. Versus this person that just found you on YouTube, end up tapping in. Now all of a sudden they got a million dollar portfolio.

Exactly. Yo, it's crazy.

Got less of the information than you.

Actually got less access. Right. They got the course info and once a week on mentorship, they come back every week. I got eight, I'm up to 12, I'm up to 16. Charles. That was my number. Now how do we build? Show me. And they be so hungry. And then it'd be like home teams still be like going to work nine to five. And I. It bugs me out.

People don't appreciate what they have, but they have unlimited access to.

Yeah, it's crazy, man. So how you, how did you get into real estate? How'd you. Because you are like super advanced in my opinion. How did you get into real estate? Like what, what led you down that path?

Being in a fed up space. I feel like everybody in their life gets to a certain point where they're fed up and I'm fed up. Doesn't mean that you're broke. Fed up mean. Could mean you're not fulfilled, you're not living your dream. You don't have the freedom. But you in that fed up space. But being fed up if honed in. Right. Is the prerequisite to success.

Yeah.

So if I'm fed up and I'm like, you know, I need to do something about this, my next move is the play that can change everything. So for me, December 2016. Well, 2016 and on before that, I was working at a job retirement. I was making $10 an hour there and. But December 2016 was the month that changed everything because I used to work 7am to 3pm and I used to work 4pm to temp. And that Was like, what I always do. But then it was a snowstorm. They had a crazy shift. You can work from 12 to 5 in the morning. Shoveling the snow as it's coming down because of the elderly slip is a whole different. So, yeah, it needs to be gone. We don't have time to shovel early in the morning. It needs to be gone as it's coming down. Like, catch the snowflakes coming down. We said. They said, we're gonna pay you 25 an hour. I'm making 10. You want to be 25? I'll take that. So I basically lived at the job for a week. And then the second week I went back to my seven. Seven to ten at night. But what happened was I realized two things. One, taxes are real. Once you hit that next bracket, taxes are real. And the second thing is they're only going to pay you what they think you're worth and not what you think you're worth. So when I got on payday, my check was $1,500. I lived at a job and then my check was fifteen hundred dollars. But that wasn't. That was the first part of it. The second part, I remember this like yesterday my manager said, yo, your check looks like mine. And I tell you, I just. And they did not tell you. I almost wanted to knock this lady here. It just. It just was burning in me. I'm like, I saw you come in and I saw you leave out, right? And you.

I look at it.

So I realized I'd made a decision. I'm never going to let someone decide how much I'm worth. I'm gonna decide that. So that's when I went to a free class. And that's why I love teaching classes, because I know what it did for me. Yeah, Like, I don't have no corporate background. Before that, I worked at McDonald's. I don't have no college degree. I went to Penn State, Edmonton. They kicked me out because they was like, your GPA is just not hitting. You gotta go.

Yeah, they ain't want they name on that degree.

No, no, none of that. I had a 500. Like, all these different things. So going into it, I went to this class and it just like, not only gave me the information to start, but it also gave me the confidence seeing someone that looked like me, doing the things and living the life that I want to live. So. But the one thing I want everybody understand, if you go to someone for advice and they give you advice, not doing it is insane. Even if it doesn't really seem like that's what you came there for. It's a blessing in disguise.

Do it.

I went there to go ahead and start for real estate investing. He said, I think you should be a real estate agent. I said, why? He said, something's telling me that I feel like God works through people in different ways. He said something telling me to tell you to become a real estate agent. Just the way you wasn't afraid to pull me to the side and ask me questions after the class. You're not afraid to talk to people. Right. You should try this agent salesman thing. Look, I ain't come here for that. I don't want to be an agent at all. By no means. But also on the same token, you gave me some game. You told me some advice that I don't know. I went in and went to school. It takes about the classes take about two months. So I started immediately. I failed my test nine times. Half of the times was me just walking and walking out, just thinking like I'm taking this thing walk out. The other half. Other four times I actually like, okay, let me actually start studying on this. So I got my license April 2017. I mean, March of 2017, I sold my first house. April 2017. By December, I sold 20 some houses. Damn. As an agent, I made six figures. That first year in real estate. That first year, mind you, that first house I sold in April, guess how much that check was.

How much?

Guess.

Let's say 3 to 6%. 200,000. Like 6 grand.

My check was $1500.

1500.

That's first check was. It was a very small deal. It was the first deal. It was very small. And then I had to piece it away to brokerage. This was my net. I'm talking about net. Everybody got their little cuts out.

Yeah, he was at the bottom of the barrel too. So the bottom of the chain.

But think about what was the check that made me want to get into real estate?

1500.

I did less work doing what I love. For the same check, I did more work doing what I hated. Yeah, Proof of concept. I took off after that. And the next year I doubled the money. Next year I doubled the money. Then I went to. I went to. I had a meeting with somebody and this guy walks in and in my office, but have my office. You need to file somebody in and out. Tight security.

Oh, yeah.

So I had to walk him to let him out. And I'm like, yo, what you just was doing? He said, I do real estate wholesaling. I'm like, what the hell is wholesaling? He said, basically middleman houses. My last house, I just did 17,000. I said, the last house I just sold was eight grand. I said, wait, you made basically doubled amount of money wearing basketball shirts and I'm wearing a suit?

Yeah.

Light bulb went off, same thing. I started wholesaling real estate. And we made so much money doing that and to go into where we are now. I said, you know what, I'm losing focus on my dream. My dream was to become an owner and become an investor. I'm helping everybody else get rich, help everybody become wealthy, help everybody, you know, build generational wealth. I said, let me get back to that. And then that's when I started the whole deals. I was finding wholesaling. I just started buying them, keeping them.

Let me ask you this. I don't know the wholesale game, but I hear a lot about it. Just for people that don't know what pays more, being an agent or a wholesaler.

A wholesaler, if you actually are So a wholesaler, 1000% if you know what you're doing and if you're consistent at it. The thing about being an agent, if you good with social media, you can literally put up a post and say, and I'm telling you honest truth, you can put up a post and say, hey, I want to help five homeowners today. Help five people. They become a first time homeowner. Homemark Homeowner, your DM's gonna go crazy. Everybody wants a vows.

Yeah.

You know, everybody may not want to invest, but everybody wants to buy a home to live in and stop renting and stuff like that. That's everybody. But on the same token, you can't just, hey, I want to buy five houses and investors. It don't really work like that. You got a cold call, you got a text message, you got a door, you got this other strategy. So yes, if you actually do those things, wholesaler, like I said, on my day, I made eight grand, he made 17 grand.

Yeah.

So you can make. The spreads are crazier, but I know people that wholesale and they might get one deal a year because they not doing those other things.

Okay.

And I know agents that might do 5, 10, 15 deals a month, bro.

I had a wholesaler, I interviewed a wholesaler, my guy from Detroit, that sold all of my houses for me. Like, so once I learned the land bank game, right, you buy the house, you just have to do these things on the list and they'll give you the deed free and clear and you own it. So Once I cracked that code, I locked in with this dude named Byron in Detroit. And he was selling my houses like crazy. He told me for the first time on an interview, he was like, yo, bro, I just started wholesaling you as my first investor.

Oh, shoot.

That made me, like, easily. He said, like, six, seven figures, right? He was like, yo. He's like, yo, Charles, not gonna lie. I ran up six. Six figures on your. On like one block. Cause I bought a block that first time. Then I just kept buying because it was so easy, right? The land bank will love you. The land bank will love you if you're doing. If you're fulfilling the checklist, right?

God's work.

They let you come get more. So I was going crazy with it at first, before I even start teaching, right? I was just going crazy. He was selling, and I never asked him how much he made. I believe, like, I bought a house for 5, he sold it for like 15. I bought another one for 5, he sold it for 19. I was like 4x and 3x in my money. I never thought to ask him, like, how much he made, because I got.

Mine for 40, you know?

I believe so. Yes. 40, 50, easily to the same investor.

There's only but so many houses on one block for you to run up. Unless he's talking about a hundred thousand dollars multiple six figures, he had to be selling them for 20, 30, 40,000 on top in order to hit that number. Because let's say it was 10 houses on that block.

Yeah, you got it.

It was seven.

Nah, it was seven.

Seven houses. You run up multiple six figures off seven houses. Well, maybe that spread gotta be nice.

Maybe between all. But he. This dude has been always so grateful, so thankful, and I never thought. It's just not. I'm just not wired to pocket watch, right? If somebody shows me a deal and I'm happy with what I'm making. I don't care what you make.

Yeah.

Like, it's not my business.

Real men, right?

Yeah, I guess that's what you call it. But it's not my business. So I was just like, yo, I'm buying four more over here. I bought four duplexes before I got finished with them gone. And he just always been so, like, not like we always had a dope relationship. And he came here, he was like, yo, I ain't gonna lie, man. I saw I lost my franchise with AT T. And I just started wholesaling. And he was like, yo, like, I ran up a quick 6, 7, 6. Multiple six figures. Or for you alone. Then I started getting more investors, and he was like. Then I started giving him my team members to sell for, right? Because I give all my. My contacts. Like, my Rolodex is for the public.

Just.

Just treat my people with respect. Approach them with kindness and integrity. If you're gonna work with my people, that's the only thing I ask. Because I want people to get the same. Like, it's so easy for me. I was doing it from home. He's like, yo, you. You was coming to Detroit, like, maybe once every two, three months. Because I, in short, right, I buy the house from the land bank, have a team, and I have the same supplies in storage, right? So I have my team go take this stuff, Go take the supplies out of storage. You got to put in a toilet, a sink, a countertop, a microwave, and a hot water furnace. Hot water heater, no furnace, baseboard heaters. And we would do the same thing for each house and carry that stuff from house to house so I didn't have to go.

That's love.

So I'm in New York, just doing my thing. But he's so thankful, so grateful. I'm thinking, I don't know where I got this number from, but I'm thinking he's making, like, two, three grand as a. A wholesaler.

What?

He told me yesterday he was probably doing like, 20 to 40 per house.

Yeah.

Crazy. So you like that wholesaling game?

I think wholesaling is the best business anybody can start. If you have the patience and. And if you had the hustle, there's not no other business. And correct me if I'm wrong, there's not. And I'm not here to promote wholesaling, but I'm just keeping it funky.

It's just a real estate combo.

It's keeping it real. Name another business that you can literally make $100,000 in 30 days without credit without actually having to use your Social Security number. What I have. You have to actually take ownership without you actually having to have inventory, without you actually having. Not having years of experience, without any certificate, without any type of second dance. Like, think about. Like, I know people that literally, they first deal is $100,000. Like, they just. Now to do that consistently. That's a whole nother conversation. But the. I know people that. Yo, my aunt, yo. I literally know people that come into crazy deals where I say, this one girl, she made $12,000 in 30 days off of a text message. She wanted to get in a real estate wholesale. And I said, look, before you get into this other marketing, I'm show you. I need you to text every single person and phone this message. She said, what's the message? I said, hey, I'm in this program and they are helping me buy my first house in the next 30 days. I'm reaching out to you to see if you or somebody you know is thinking about selling their home. And if you do know somebody, I have a thousand dollar referral fee. She sent that text message to everybody on her phone. A couple people hit back. One person hit back and said, yo, I'm actually willing to sell my old house. It's just sitting right. Found a buyer, boom. Made $12,000 in 30 days.

Crazy.

Didn't require no marketing, no money, no nothing off the text message. There's no name another business you could do that.

So with that skill set alone, safe to say you'll never go to work for nobody.

No. Hell no. I'm. I'm mentally unemployable.

I'm mentally unemployed.

Like I don't care. Like I'm mentally under you. I don't care if you're paying a million. I'm. I'm not going back.

No way.

Not going back. And it's not even a money aspect. I already see what freedom looks like, waking up, like, for people that's watching this. I'm not telling you to quit your job, but the feeling of getting up and you literally move on your own terms now is, is understand you moving your own terms can be a hurt piece if you're not moving correctly. You know, grinding. But just the idea of waking up, do I feel like leaving the house out today or not? That's a feeling I'm never getting rid of, ever.

I love it, man. I've been left, bro. Once I left corporate America and I was in corporate America seeing people with 20, 30, 40, $60 million businesses, and I was just like, there's no way. And they regular people, right? Regular conversations. So I'm responsible to entertain them at games and whatever functions, whatever. I'm like, wait, like, they just like me. We having the same conversations. Girls, basketball, football, boxing, gym. Right. The same regular conversation. But they are like owners of $30 million companies. $20 million companies.

It makes you think, did you earn the right to have them conversations? Because they for sure did. Yeah. At that time.

Yeah. Well, that was my job. So I was at American Express 2, $300,000 job. And my job was to get them to spend like their vendor spend on a corporate car.

Okay.

So I worked for amex. Corporate.

Oh, okay.

That was, like, my job, but I was only making 2, 300,000. But I'm looking at everybody. 30 million, 40 million, 60 million, whatever. And I was like, yeah, this. It just. I felt guilty. Whether I made it or not. I was like, I gotta leave. Like, I can't service the same type of person. That's just like me.

Yeah. At that level, that's hard.

Yeah. So. And I don't know if you know, but sometimes the VP of amex, he'll, like, speak at my events or he'll come out and speak. Yeah, he's a good friend. I actually got him the job before I left.

Oh, shoot him.

At another good friend of mine. And I beg them to quit every single week, bro, I swear to you.

You won't do it.

They think about it. Well, I ain't gonna put their business. But look, we have conversations.

Cut that part.

Yeah, we have conversations all the time. One of them be here.

Heavy.

He just likes. Like. He just be around me knowing, like, whatever I do, he's gonna do. I ain't gonna say no names, but they know who they are.

But, yeah, bro, platinum cards, when you.

Know, when you see. But this is not for everybody.

Yeah.

Wouldn't certain type of people see a lot of, like, money being made? Some people it inspires, and some people, it kind of dims their light or kind of takes away. From what. From how they feel about themselves.

Yeah. Yeah. That's a fact. That's why every conversation isn't for everybody. The conversations are the same, but the way you receive it is different.

100, bro. People can receive conversations, like, totally opposite. And. And the person just spoke right into the mic and the camera.

I can say that wall is black. You can say it's gray.

Yes. Wow. All right, so, boom. So you go. You go real estate agent. You got into wholesaling, and then where'd you go from there?

I went straight investing.

Investing. Did you know, like, ownership? Did you. When you say investing, was it like, I want to be a landlord and own 90 units?

Yeah.

Like, what was your number? Was like a hundred.

It was a hundred. It was a hunt. But I. The reason why I want to know. Harp on that, because I feel like we all have a number that we think is a number, but it's a number because it's just. It's just we program the thing. Like, for example, everybody says, I want to make a million dollars. We don't know why we want a million dollars, but it's just a number that we just grown up. I want 100 millionaire. We don't know what even 100 units look like. It's just, that's just the number. You get what I'm saying? Like for example, people just say like, yo, it's just, it's, yeah, I wanna, I wanna a Lamborghini. We don't really know why. It's just the American dream.

Yeah.

Million dollars, big house, 100 units. But we don't really know, so. But, but my number to answer question was 100. Did not know why.

It was 100 for me too.

Yeah.

I got to 38 and saw how hard it was. I was like, yeah, nah, there gotta be a better one.

I think everybody think changes everybody.

Yeah, it's supposed to, but it's something about having a number. And one of the things I talk about a lot is like your why, like what's pushing you? What's motivating you? Do you have a number? I'm doing a conference. I want 500 people. I grabbed it out of the sky. I never did 500 people event before in person. So it has some meaning to it. But it could have been a thousand. Yeah, there's events with 5,000 people. Right, but I just grabbed 500. So you got there. I'm trying to figure out like what's the end game for you in real estate? Like where you want to be ultimately.

I'm going to be honest and I think we had, you said it and we had like a conversation when I have been a conversation about it where we're transitioning into a phase where we not really know 100% with that transition is like, like being in this game for, you know, X amount of years and especially someone like me that I've touched multiple different avenues of it from real estate agent, from wholesaling, from investing to midterm rentals, the air short term rentals. I do event spaces as well to now I've done so much to where like I'm not really sure what exactly the end game as far as real estate goes. I know my end game as far as like what I want to do as far as businesses and different things, but as far as real estate. I know for me I want to continue to buy properties and just keep adding to the portfolio in strategic ways. Not like how I was doing before, just grabbing stuff in strategic ways, but more so for like wealth reasons. Pass down reasons. Not like I want to have a thousand rental properties. I want to have a thousand different tenants. No more so like, you know what, I want to make sure my Son has, you know, X amount going on. And also for appreciation reasons, it's. It's hard to stop something. When you see a house that was worth a hundred thousand two years ago and that was worth 200, it's hard to really kind of like, I'm never going to buy house again. That's crazy. That's like a high yield savings account.

Like, yeah, man, I know my. I'm going to say graduation or maturation in real estate. I don't want to have tenant conversations. I don't want. I don't love that tenant concept. And I think what you're doing, like, you just appear fearless to me, bro. Cause you got the, you got the event space. So I'll be hearing about this stuff, but I'll be like locked in on what I'm doing, but I'll be seeing people make money, so I'll be getting away from the tenant stuff. But I know I like the VRBO space. I know that's a ton of money. I like the event space because we all have. We use event spaces. For me to do my events, I'm paying $48,000 for this space, right? And that's an event space. So I'm actually literally paying somebody 48. And my CFO made a mistake. She paid the whole thing up front.

Yeah, that was vicious.

Vicious, bro. She had a minimum deposit and maybe a week before and all of that.

Most half up front.

Crazy. But back to the landlord tenant space, man, this article, I don't know if you saw this one. One of the headlines is politicians, let's check it out. Fix the state's property laws. One landlord is out over a hundred thousand dollars and two years of lost rent after a squatter invaded her property. I'm Tony and this is Real Estate Investing and Landlord News. That's my guy, Tony, man. From a, from a landlord perspective, what's the most you ever seen somebody owe? Like somebody that, you know?

Oh, all different ranges. But for me, the most someone has owed me was if it was. I think when I sent them to court, the judgment was for like 10,000.

10,000. That's crazy. Personally.

And it was totally my fault. Totally my fault.

How. How is you provide a place for somebody to live?

No, no, no. Not why they didn't pay was my fault. Why I went to 10,000, my fault. The, the worst thing someone can do and the best thing someone can do is make a bunch of money other places. So they didn't pay one month. I'm like. And we, you know, they had A conversation. I was gonna be next month.

Yeah.

That's two months. Yeah. Then I'm just trip three months. But when you making moves, you got money coming in these tenants. You got business over here. You got this. Then you kind of like, all right, then. Then it go up and hit you like, hold up, I left 5 months slide, hold up. Whoa, whoa, whoa. And this was kind of like early on before. I like things was as tight as it is now. But then when you start the actual landlord tenant process with the court that's in Philadelphia is a minimum of three months. Yep. Because you got to do a diversion. Then you got to add a court date. Then you gotta. Then if you win in court, which all my paperwork is legit, so that's never a problem.

Yeah.

But then you go into a space where you have to wait for the sheriff to come out. So each one of these is basically a month.

Yeah.

So think about If I let five months slide, then the other three months. Fifteen it was. They was paying 1500amonth, so. 1500 times eight.

Yeah.

That's how the math kind of like got to that point.

That could hurt. Did it hurt or were you like. It didn't in a better space? In a space where you might have had some cushion to where it didn't.

It didn't hurt because I buy my property so cheap and get the work done so cheap. And when I sometimes when I do a refinance, I'm not just maxing everything. So my mortgage payment, when that house is 18, 800amonth.

Okay, cool.

So. And the tenant was paying 1500. I'm into my principal interest tax and everything was in it. So it was like it was auto drinking. It wasn't like I wasn't even crushing you. Yeah.

But for the average American landlord, that hurts. That could crush them.

That hurts.

What people, what tenants don't realize is that this could be a person's first investment property. It could be a big gamble for them. They get in, they're depending on that money. They may not have money to pay the bills where they live and this property.

Yeah.

So a big part of what I've been on lately, bro, is kind of like getting away from that long term tenant. That whole lease thing. I've really been focusing on developing. Have you ever built a house before?

No, I actually have. It's funny you said, I actually have two lots that are shovel. Right. I got the permanent hand everything. My goal is to start building them in two months, maybe next month. I got, I got three houses that I'm selling right now. And then I have one, two. I have two houses I'm refining. So pretty much all five of these, Laura willing, should be completed within the next 60 days. I'm talking about fully off my plate. So sold or refinanced. And then I'm gonna go ahead and develop those two. Those two buildings.

Nice, bro. I'm gonna tell you right now, they're.

Just waiting for me to start. Like, I got the brickwork.

I'm gonna tell you right now, it's gonna change your life. Yo, the speed. So it sound like you got. Like, you got a crew. Where do you do most of your fix and flips? In Philly?

Yeah, in Philly. Everything in Philly, everything.

You got a really tight crew.

Yeah, yeah, Nice crew. Shoot. My painter called me, right? But the thing he called me just to give me an update on what's going on. But we use the same paint, same style, the same everything. Like all my house, the front door is orange. All the inside, we painted eggshell white. Reason why we do eggshell, because you can wipe it off easy. Is better than flat. Yeah, we get a good price on that. So we playing flat numbers for eggs. That's a whole nother combo. But they. It's copy and paste every single day. Everything is tight.

You a systems guy, bro.

You. In order to. In order to set yourself free, you need to have set systems.

Yeah, I'm learning that. I'm learning that. You big on systems?

I can get bigger, yeah. But I'm pretty solid where we at. Yeah.

And that's the key to most successful people I know is systems and processes. They have them in place. They're good at building them, honing them. And it's not even that they got to be perfect. But having a system in place for a lot of things is what I see a lot of people use for success.

I think even if you don't have a system, you should have a standard, because system is when you have, like, all right, we have to go to this store. We have to get from this. This is the website. This is the funnel. This is this. This is this is this. This is already like a sop but if you set a standard that people can follow even without the system, they know what do you like. So, for example, we have pro accounts. We have vendor accounts. We have this, we have that. So they know which store. They know what color. But if you set a standard, like, I don't know what systems you have, but I know Boone ain't going for that. So let me go ahead and do.

Yeah.

Setting a standard is going to have people think for you even if you don't have nothing.

Right?

Right. Like I know you know? Yeah, Like I know for a fact he ain't gonna want this like this. So let me do it how I'm used to seeing it. If. Even if I gotta drive and don't know what store to get it from, I know at least he ain't gonna go for that.

Let me ask you this. How much did you get beat up by contractors before you got it right?

You wanna know something crazy? And people gonna look at this like it's cap and it's real. I've never got beat up by contractors.

No, you never got ripped off by a contractor?

I never got ripped off by a contractor.

I gotta shake your hand.

But, but, but you know there's a reason behind this one.

I already peeped. You told me you got the Mexican undocumented living in one of your spots. He can't go nowhere.

Can't do too much.

That's hard to put. I can't repeat that system, bro.

You can't do too much. But. But he can't do too much.

Yo, was I accurate with that one?

You know, you know the worst thing, though? You know the worst thing though?

What?

When he go and pay his rent, I got him at 12:50 when he go pay his rent. Sometimes, like, sometimes I might collect it. Sometimes I had.

He might work.

No, no, no. I remember once I gave me 900. He said, because you forgot, you still. Let's say, for example, he was doing a job and I paid him 4,000 by Mahe. That's the only thing you got to pay them guys. Yeah. Cash. So I paid him like 3, 600. And I was like, I only got 3, 600 on me. I said, I'm gonna get other 400. Yeah, later. He's cool. We. We do stuff like that. It's cool. Yeah, he paid me the rent and it was short.

Is this.

He like this. Oh, remember the foreign. I was like, yeah, God damn.

I was like, I'm telling you, man, you blessed.

Yeah, yeah. But the contract is I never got beat up because I always seek mentorship before I do anything. Every single. I'm talking about before I go ahead and buy a bottle of water, I'm calling my barber. He big on water. Like he. He like, you got. I don't drink Poland spray. Got to be this, it got to be that.

Yeah.

Anything I do, I call somebody first. And that's what life Is about if you want to go ahead and get the fast pass. Yeah. So before I got started in construction and renovating my own houses, I went ahead and called my friend that was already doing this and I met him on Instagram. I leave DM and say, yo, listen, I'll pay you to pay. Yeah, I'll pay you to show me. He gave me some contract, he gave me some advice. So my first project I did was a 60 day full gut renovation.

Okay.

No issues because I went to somebody that did 20 of them already and they gave me the game.

Yo, I wish people was teaching real estate when I started. I spent.

Yeah, 20 years ago, that's a different story.

I spent so much money learning on my own to grab a mentor, somebody to teach me something. It's so easy for me to pay now, right? We ain't have. Just imagine a time where you didn't have somebody to teach you. So you might go to Home Depot and get the wrong guy. He gonna tell you I could do this whole thing. Eighteen thousand dollars. Give me nine thousand dollar deposit. I'm gonna go get the supplies, I gotta pay my guys, come back in four days and it's gonna be straight. And you never hear from him again. Yo, that's happened to me. And it was like. It hurt, bro. It hurt. Because my vision be like, I'm gonna give somebody. The end goal is I'm gonna give. I'm gonna create a house in a market where there's not that many.

Yeah.

I'm gonna create a place for a family to live. I got a standard to how I do my stuff. So I'm gonna do stainless steel. I'm in my mind, I'm doing backsplash. I'm doing like floor to ceiling tile in the bathroom. And to get ripped off, yo, it's like the most heartbreaking thing, bro.

You know, another thing, why I don't get ripped off, I got somebody tried to rip me off one time, it didn't work out. And you gotta adopt the motto, like, maybe this isn't a job for you. Yeah, I pay my contractors in thirds and even down to like the guy that, that lives at one of my houses. He gets paid when the job is done. So he does no deposit. But he knows, right? You know, but I pay him in third. So let's say a contractor's charging a 3,000 job. $3,000 for a job. You get a thousand to start. Yeah, you get a thousand when you're 50% done and you get a thousand when everything is checked Inspector checked everything is fully. Yeah, I had this guy that tried to like run up. He got covet and he was like, yo, I'll be back. I got covet. Then my guy got covet a whole story. But when he was, he was gone for like a week or two. So he had, let's say he had like a three thousand dollar. I had a three thousand dollar balance with him. But he had to complete about six. He had. I forgot how much was it? Long story short, I was up more than he had. Definitely.

He did more of the work.

Exactly. So he basically ran off the chase. The other ten twenty thousand dollar jobs he had because he was down bad. He was like y. He kept, you know, stringing me. I'm gonna come back next week. I gotta finish up this other job I had before. It wasn't before me, it's just that was more of a balance.

Yeah, they do that.

But now all I had to do is pay one of my guys extra $2,000 to finish. Yeah.

So it ended up working out better.

Because I make sure that I got less money in than you are doing the work, bro.

You gotta share this one, man. Give me top three things to vet a contractor before you start working with them.

I need to see your work. I'm not talking about like send me, send me this one picture this nice kit you did. Let me see multiple kitchens. Let me see multiple stuff. What you got going on? I need to see everything. Show me. Matter of fact, we're one of the houses. Let me pull up one of them houses. And so that second, this is how you really better contractor. And this is what I used to do. Let's say I need somebody to do some plumbing work. I'll literally go to Google and Google plumbing terms, plumbing things and different things. People get over when they know, they know you don't know anything.

Yeah.

So I'll. I used to Google like terminology, YouTube some things and I come to you, yo, so when you're doing this, we're using packs. What do you like?

Right?

They're like, oh, he knew something. I can't get over. Even though I don't know nothing. I literally googled it right before I, before I had a conversation with you. But when they know like, okay, you know something. Yeah, okay, I understand that. And the other thing too is even if you don't plan on pulling permits, tell them that you're pulling permits.

Okay.

Then they're like, okay, this guy's legit. It ain't no under the table. I'm not Pulling no permits. A lot of my house, I'm not even doing permits. But now they like, okay, this ain't somebody. They just. They just need their kitchen done. This. This is a real investor, right?

It go back to the standard. They know they have to meet a certain standard with you. So they know, like, if they look into Flim Flamingo or whatever, they know you not the one. Because you. You kind of like, you got your stuff set to a certain standard. Yeah, that's dope, bro. So I'm happy you don't get ripped off, man.

Yeah, thank God.

Certain markets, though, like, it happens so often. The Midwest is notorious for it, right? They just. People just losing money out there. That's why I actually started mentorship.

Crazy. My dad paid somebody to build a portion in front of you. You already paid him $5,000 up front and never came back.

Your dad paid somebody five grand up front? He never came back.

And it's not that come at anybody. The only reason you get ripped off is because you allowed it to happen. Giving somebody five grand up front. Yeah, is. Is. Is like there's no reason why you should be getting ripped off if you keep a standard. Yo, listen, let's. I got a Home Depot account. Just go there, call me and I could pay over the phone. Yeah, what we need deposits for? I can just. I can just pay for all that 5,000 worth of work material you need, right? Just go there. Just. I pay over the phone, text to pay.

Yeah. Or.

Hey, look, listen, when you get here to this house and I give you the. This. Sometimes you got like start to work. I'm not gonna lie. Sometimes you gotta play games with these guys. Yo, listen, when you get to the house, like, contracts, they hate me, but yo, when you get to the house, yo, yo, you could pay me now. Matter of fact, I gotta run to the bank. I'm a. When you get to the. I just meet you at the house on day one. Yeah, bro, I got a thank. I. I wanted to make sure I meet you and I didn't get. And I wasn't late. But look, my bank is only 20 minutes up the street. I'm going go ahead and get there and I'm going to come right back. But I wanted to make sure we went over everything. Oh, well, I'mma just start when you get back. Why we start now? Is that awkward conversation to where now you kind of. You pulling their car right then and there. So I'm getting them to start some of the stuff before I even get them any money.

That's smart, man. We need, we need more of that.

You gotta, you gotta get creative, man. Yeah, you.

I feel like you, you, you, you have like, protect your losses first up front. Like, you're not gonna step into nothing that's shaky. You like. Nah, you're gonna, you're gonna do some work. Yeah, I'm gonna pay. Like. We're never looking to cheat nobody. No.

Hell no. Right?

We actually probably pay a little extra for the speed of, speed of completion and everything else. But it's just that weird space where it's like that new relationship.

You can tell something funny about the heaven. If I say, hey, I'm gonna meet you at the. Let's say. Let's say you're a contractor. And I'll tell you like, I'm meet you at the house at 9am on Monday so we can get the ball started. I'm gonna bring the deposit then.

Yeah.

And they get there on Monday at 9am and then you say, oh, shoot, I forgot to go to the bank on Saturday. Yeah, I'm gonna go right now. And they say, well, you know, well, we can just start tomorrow. I just said, it's up the street. Why you want.

Yeah.

Something funny going on. Like, bro, I'm literally going, you got to use discernment.

But I told you, bro, you, you, you a blessed person, man. Nobody ever told you you blessed. I'm going tell you. I'mma tell you.

Appreciate that.

Because I don't know nobody that never got beat. It'd be hard sometime to get people to come back and finish. Like, some people just don't see the vision. And, And I'm happy for you. Like, they don't roll like that.

You can't really get over it.

Like, because it's small.

Not because it's small, but like, so, like people say, people in Philly and like New York, we fast on our feet, we crafty. So you can't be crafty on a crafter like you.

Yeah. So in New York. Yes. In New York, you not beat me as small. The Mexicans are small. My Mexicans know. Well, they know who you are. And then we lock in with certain Mexicans. New York got so expensive though. I started doing business in the Midwest where the houses were a thousand, two thousand. We don't have that in New York. So that's why I started getting beat. My New York record is undefeated.

Right.

Like, they doing work on my house. I'm. It's easy for me to stand on.

Top of them and watch and make sure. But when you're out of town, it.

Get a little difficult because you got to leave the deposit. And I'm trying to get back home. And my mind, like, realistically, we want to come back home. We don't want to be, you know, away doing stuff like that.

So, you know, in other cities outside of us are, you know, north part of the country, you know, where we at, like Philly, New York and things like that, People not as, like, as aggressive, as sharp as we are. Like, we not really going for too much stuff. But then when I go down to, like, I went down Virginia because I was putting in some offers and trying to do some business in Virginia, and it just was real, like soft spoken, real salt.

Like.

Like they just kind of let different cultures us is like, no. Yeah. It's like a hard no. They ain't.

You gotta adapt, though. Just, just. I'm gonna, I'm gonna just say that. Put this out there because. Because you might do some business in the South. Observe as much as you can. First, I almost stepped on some toes with like a New York mentality. And then my contract, he like, nudged me. He was like, like, they had an event going on. Yeah, they had an event going on. I'm like, like, why that's stopping us from meeting? He was like, well, you know, like the event took up the whole week. I'm like, a week. I'm like, for that?

Yeah.

I'm like, like, I like, I'm a basketball player. I don't even know the Knicks record. Who on the Knicks or not. I'm locked in on the money.

Yeah.

What you mean? Like, we can't meet that week?

Yeah.

And then my guy was like, he was like, yo, chill, yo. Like, we shut down. I'm like, in New York, there is no shot like you go, go, go, go.

Yeah.

So eventually.

It's a good point though. It is, definitely.

Observe. Just. Just understand the culture first. Understand how they, how they do business. And a lot universally, it's relationships anyway. So anywhere you go, the culture is going to be different. But if you have that relationship with the person, they still going to go as hard for you if you don't build a relationship first. That's where I realized it start to get rocky.

Relationships are key.

Yeah. Way more important than mine. When I first went to Birmingham, bro, I was on the phone with the builder for like a week, just, just getting to know him, talking, getting to know him, everything. And he's like, all right, we going to lock in. We going to do. We going to start the Build on your house. When I went to Birmingham, right? I got my hotel. I'm anti social. I just want to do the business and. And I want to just like. Like, give me in my hotel. I'm gonna talk to the kids, talk to the family, talk to the homies and. Right. And I'm like, I don't want. I don't want to really get to know you because we just doing business.

Yo.

Dude was like, so where you staying at? I was like, yeah, I gotta. I got a room downtown. He was like, well, if you want to, like, you could stay in the Airbnb, we got. I was like, what? Like, you mean like. Like I could stay in the house? He was like, yeah, Charles. Like, you could. You could. You might as well just save the money and stay right there. Yo, it was such a culture shock to me. I was like, damn. Like, automatically I'm like, yo, this is a nice dude. In New York City, you're never meeting somebody for the first time and say, yo, just stay at my house, right? It just. It's different.

First time with the land, I'm at the gas station. This is my first culture shock. This is some years ago. I went to the gas station and the guy. I'll never forget this. The guy at the gas station that, you know, the gas station attended. Whatever. I'm paying the money. Yo, let me get 40 on three. He like, yo, how you doing? I'm like, everything good? Like, how your mom. How your family? What are you talking about?

My mom like, bro, get my gas, bro.

Yeah.

Like, he like, no, I just make. Seeing how your family doing. Like, you know why I'm bringing you up? And it hit me like, it's just us up here. Yeah. I said, I've never in. In Philly, Jersey, New York and this, you know, that area. I've never had somebody at the gas station ask me how my family doing.

Yeah, yeah.

Messed me up. But it goes back to you said like, you know, in certain places, like, people are really nice.

Yeah. I didn't know how to say no. I was thrown off. I was like, I'm not staying. Like, what do I. I know. I was like, yeah. So I got one more stop and then I'll just call you and let you know I wasn't gonna do it. Cause that's just not like me. Yeah. I just ain't, you know, I mentally. I'm just not there to go stay in somebody house. I don't know. Right. But I eventually was like, yeah, man, so what I'm gonna do being that I already paid, I'm gonna just stay downtown. And next time though.

Yeah, but there's no refund policy.

I copped out of it. But in my head, in my heart, I was like, yo, like they different. It's different. Yeah, it's definitely different. So with that, man, I've been buying a lot of land in Birmingham right Through my work at the Detroit Land Bank. They connected me to the Birmingham Land bank and I went crazy when I was able to buy land, just like I did in Detroit with houses, I went crazy with the land. So this, this next article, this next segment talks about Birmingham. They're building an amphitheater. Right. And you know, gentrification. Yeah, it's going to start downtown and then it's going to spread. Right. This article talks about a 46 million dollar amphitheater. They just, it's not built yet. Yeah, they signed a branding deal with Coca Cola and they're now starting to book out talent and they starting to book out the amphitheater before it's even built. So the amphitheater, they got their first show at the 46 million dollar venue. Now you know, gentrification, they're going to do downtown first and then it's going to spread out a little bit more than the downtown area, bro. So with this I wanted to ask you like, would you recommend in Birmingham, so I'm building houses there. Would you recommend I put one to the side for like and all of my stuff, all my land is close to downtown. Would you recommend I put one or two to the side for like Airbnb? Vrbo?

I can't really say.

It's gonna be hot. Birmingham's on fire.

I wouldn't say put something to the side just for that. I would say maybe put something together and maybe leave that for like a month to month rental.

What, what you mean like if you.

Rent, you rent out to someone regular or you gonna put on month to month. So when things pop out, just a.

Cash paying tenant month to month.

Yeah. And then I can just get them out of there and then I can transition.

How easy is it to get somebody out once they comfortable and pay once you want to.

Once you. In a month. A month you could just say I don't want to renew and then they, they kind of like a six month lease. Hey, yeah. Every, every six months we're going to have a conversation if we. If you want to renew or I want to renew, but not you got it. I just don't, I don't think it's advised like, yo, I' ma just put something to the side for this one business model. You know what I mean?

There's more research that goes into it.

Yeah, yeah, because like Airbnb and Philly was hot and then it just stopped.

Yeah.

They put these laws in place. Also, Philly is not the same as like Miami where people like vacation in there, you know, so there's a lot of different things that, that play a factor. And, and also, you gotta remember the Airbnb model is based off an app. The app changes the rules, changes up your income.

So what's vrbo is the same.

Vrbo. So vrbo is midterm rentals. So it's not short term. Yeah. Somebody, they have to stay for at least a month or more.

Oh, nice. Okay.

Yeah. And then they pay. It is paid up front.

Okay.

And then Furnace Finders is pretty much a website that your listing has showed up. But it's marketed to people that may. Like, for example, I had people stay in my place where, hey, look, listen, I'm getting a house built, but I'm ending my lease. Where is it? And hey, I just need to stay here for four months while my house is on the end part of getting built. Or like, hey, I had a truck driver one time, he said he was based to do local routes in this area for the next 30 next 90 days. I want to stay here for 90 days. And I had traveling nurses. A lot of people would know about traveling nurses. But it gets deeper than that. Somebody where their house caught a fire and it's taking some time to get finished. They stayed there and then insurance can be paid for it. So it gets deeper than just, damn.

Bro, you killing it, bro. Like, so you've used. You've made money from all of those apps. Yeah, those are all apps.

Yeah, I made every money. Furnace Finders, vrbo and Airbnb. I totally stopped doing Airbnb a long time ago. So now I just do the two.

And those are longer term rentals.

Yeah. I've never had somebody just stay for 30 days. They all. The least I had was 60 days. Like, they all stay at least. The. The thing is at least 30 days. But like, typically it's like 60 days or more. And here's the catch though. Here's. I'm gonna put you on some. Let's say for example, you got a place apartment that you. The average rent is 1200. I know that's foreign in New York, but average rent is twelve hundred dollars. And you, but you put it on vrbo or furnace finders or whatever for two thousand dollars. And someone bites and they take it and they stay for six months. What we do is a month or two before they. They renew. I mean, before they leave out. Hey, just wanted to say check in. How's everything been? We already checking them anyway, but this conversation is. Hey, how have you been liking stuff? I love it. I love it. What do you plan on doing after this? Because, like, you know, my boss likes my manager. The actual owner likes you staying here. It seemed like you having a good time. What if we did this instead of 2000? We dropped the rate to 1900. You become a long term seller in it. Yeah, they be biting on it.

That's like rent hacking.

They be fighting on it. So now. So now I got them at 1900, but remember, I was only supposed to get 12, but now I got them long term.

That's dope, man. All right, last thing we got to discuss. Last thing I want to just, just, just learn from you. The event spaces. I see you got how many of those you have?

So we have one event space, but we have three rooms inside our one.

And you run up a bag through there. Is that through pear space?

No, it's all private. Or like our own personal marketing. We had on pair space, but peerspace didn't really work out too well for me, so we just do it all private. I own marketing.

You going crazy, bro. Yeah, I seen something you posted one time and I just reposted it like. Like you just posted like a special for the weekend or whatever. I just reposted it. I appreciate that. Get that thing going, man.

I appreciate that.

Yeah, and I like, I love to see when you. When y' all open them too. It's kind of. It's dope because I like the creativity.

Yeah.

So I'll be seeing your work. I love that exposed brick too, bro. Yeah, so, yeah, like I said, I got two.

Now this new one, I just. This building I just finished, it's commercial mixed use. So it's commercial on first floor. And then I got three apartments upstairs. So the first floor is gonna be a event space. So technically I got two now.

You're gonna do what? Oh, just an event space down there.

Yeah. So, no, I never told nobody this before, like, at all, but I just dipped into the healthcare space.

Okay.

So that's gonna be my office Monday through Friday, and we're gonna do events on the weekends.

Killer. Yo, you don't let no time go by without being rented.

Oh, another conversation. Like, I've Never even said that before.

I love it. You just fearless, bro. You just fearless. I already know what's gonna go. I already know. You gonna run the number up like crazy. Whatever you want to do.

Appreciate it.

Fearless in the system. You gonna put the system in place. You've gone figure out how to. How it goes. Put the same exact system in place, and you're gonna run it.

Yeah. I appreciate it.

Crazy. So building. Damn. You're gonna have a lot. You're gonna have your hands full, bro.

The systems, like the. The landlord, the tenant stuff is his own thing. I don't have to worry about that. When. When a leaky faucet happens, they already know who to call. Call this plumber. He's already on the. We already got the Rolodex that somebody manages the VR bill. Like, that's already. That's already managing. If I buy a property to flip, you know, you gotta check on it from time to time. But I got the same contracts. They already know how to do it, what to do, so I don't have to go there every single day. The event space. I actually got the event space with my mom. She runs the whole thing.

Dope. That's it.

She runs. She runs. Y' all got that for her? Yeah, she runs the entire thing. Like, I go there once a week because I made. In my office there. So I go there to just. I might need to lock in, check in. Yeah, she runs their whole thing. So when. And then, you know, when we do the education, coaching, helping people online. Those are zoom calls in the evening, like.

And you do them there?

No, no, at the house. I got a whole studio set up at the house.

Nice, Nice.

So, like, you think about. I'm kind of setting things up where, like, I'm not, you know, we're not gonna lie. Some days, you. You might got backed up. Stress things may happen, but on the vast majority, it's like, you just. I got time to go take lunch. Yeah, of course. Like, I'm not stressed.

Yeah. When we go hard is so we can have those times exactly. When people see us working and just being strategic and doing things, it's so we have those opportunities to do whatever the hell we want.

Some days I'm looking for something to do.

Yeah, yeah, yeah, yeah. It'd be like that. And people don't realize that's a whole flex.

Right.

Like, being able to make money and have a clear schedule is the flex. Right.

Somebody asked me this one time, what does your dream life look like? Yo, when I tell you it was a slap in the face. I said, my dream life is I can wake up in the morning, take my. I said, I dream, like, we're gonna take my son to school.

School.

And I said, I just work out one or two times. I like going to the gym, workout one or two times a day, figure out what car I want to drive in. You know, wake up and take him to school. And then when he get. Then when I pick him up from school, we just do whatever activity. We do whatever we want to do. I eat good food all day long, and then I just take trips every single week. No, he said, that's what you do now. I didn't even think about it, because what I'm thinking about. What I'm thinking about is, like, I'm picking between a Bugatti and a Ferrari and this. But he's like, you got nice cars. You may not have a Bugatti, but everything you said you do every day now, it didn't even hit me. And I say all this to say is, sometimes we're so close or we're at our dream is you're missing that one piece, so you disregard everything else. The one piece I'm missing is the Bugatti.

Yeah.

So I DISREGARD the other 99% that I already do.

Yo, you get a Bugatti, you're gonna be used to it in a week and go back in a Tahoe or whatever else. Like, no, no lie. You ever get something new that you wanted, get used to it and be. And then just like, whatever. Like, put it to the side, bro.

I got. I got. I got four cars, and including this one, I just bought a Yukon Denali black truck. And then I hired. And I hired a driver, bro. I don't drive at all. Like, I'm like. Like, I got other nicer cars, and I'm just like, yeah, like, my one car, I got a GT63AMG. It's be sitting like, yeah, I. I.

Had a bunch of cars, too, man. Yeah, I knew. Yeah, I. I just realized, like, you just get used to them and then really not driving is the flex. Like. Like how you said, you go pick up your son or whatever. That's really, like, a part of my dream life that I created. I give back once a week. That's my mentorship, right? It's just giving back teaching. And my real focus, like, on a personal level, is to make my son's basketball games just to be like, people.

Don'T realize how important this simple thing.

Like, that's the gold that's like, that's everything, yo. And. And it don't matter. It don't even matter, win or lose. Yeah, he could score 40, he could score zero. I'd be so happy just being there, chilling. It don't even matter. But that's. I'm. I'm. There is what really matters.

People don't realize how important the simple things are, and you don't realize it until you can't do it.

Yeah.

Yo, my own. My. I take my son to school every day, and it's just the most. It's just the most powerful thing in the world. Like. Like, people. I travel, like, Atlanta and stuff all the time. They always ask me, why you always fly out Sunday night. I gotta drop my school Monday morning. That's top priority. Like, me staying here one extra night is not gonna do more fulfillment than that. Like, most of the stuff we get done, we network and we building all during the day. I can get on that flight. At night, I'm getting on 11 o' clock at flight and I'm back home.

Back home.

I might land at 2, 3 in the morning, but when he wakes up, I'm taking him to school.

That's what it's all about, bro. Yeah, I love watching that too, man. I love seeing you and him do what y' all do. And it's just. That's just like, really. I'll be going hard to have freedom and flexibility, right? I like to run. I want to get up and run in the morning. That's, like, really, like, ideal to me. If I could go grab, like, a dope smoothie after, like, I'm super happy. Yeah, I'll be like, yo, right 12 o', clock, I might still be sweating or. You know how you get a good workout? Your body feels it later? Yeah, I'll be super happy, bro. Yeah, you just. You feel. You feel the workout still working for you two hours later. And just so you know, bro, my man right there, and my man right there can vouch I was doing muscle ups not too long ago.

Oh, here we go.

Yo, can y' all vouch for me? Can y' all vouch for me?

Cause.

Cause boom. Get it in. Boom gets it. Yes or no? Yes or no. And I did dips after. So, you know, you do the muscle up. If you really write, you get a few dips up there, right? All right, cool. So, yeah, bro, that's, like, ideal. Like, that's when I'm at my happiest, when I get to just wake up and. Oh, I'm sorry. Bro. When I get to just wake up and like, get a good workout, eat right. Because I know that's like the longevity piece and then spend time with, like, family, that's everything to me. Yeah, bro. All right, so the final piece, man, I've been going crazy in Birmingham, right? This last article that we're going to pull up, like the last headline from a housing perspective, right? Birmingham Housing Authority used to receive $53 million for Section 8 expansion. You got Section 8 as part of your portfolio, right? I think it's necessary in D or C class neighborhoods. But Birmingham, there's such a cash infusion going on. There's so much gentrification. It's such a change going on that I'm like, way ahead of the curve of, I would say our people, everybody else, all the developers. The developer summit had, all the other ethnicities there, all the developments that's going on, like the amphitheater, the expansion of Section 8, right.

The.

The build out is really not as much of us as I would like to see. So with that, I launched this conference that I'm doing 500 people and I just threw 500 out there, right? I didn't know we'd be throwing numbers out. We just be trying. Like, I just wanted to see if I could do it right, if I could fill a room with 500 people to pay and fly in and. And secure child care and everything else. So I put this conference together. It's called let's Build Birmingham, where I'm teaching 500 people how to pick, purchase, profit and protect through a trust, through my trust attorney, their first investment property in Birmingham. I like that it's all going to be focused on building because development is like the final stage. I want you to just give me a call the second you realize how easy building is, right? It's. It's such a quick, simple system and process it. Go like site clearing, foundation, framing, the blackout phase, electric pl. Like, it goes so fast, right? So I want other people because I've never been taught how to develop. No one taught me how to build. No one. There's not a bunch of black developers saying, yo, this is how you make such and such, right? So I learned how to do it. And this is like my give Back conference right here where I want to teach 500 people how to develop from the ground up.

I like that.

February 21st to the 22nd, we are gonna have a networking event because, you know, when the. The energy, when you get so many people together, it could get out of hand and kind of crazy. So Friday we're gonna have a networking event. We're gonna have a mixer where I'm gonna introduce people to the lender, to the architect, to the contractors. And then Saturday we're going to teach, we're going to learn all day master class. And then late Saturday or Saturday afternoon, I'm going to take them to a tour to probably two or three properties. And I'm going to let people see how. The same way how you be having people on your property, like inside really seeing and feeling. Because I want our people to know, like we could develop, right? We could build. We don't have to just fix and flip. We don't got to be stuck in the landlord trap.

Yeah.

We don't got to be stuck in like going back and forth to court. Like there's a better side to real estate.

Definitely. It definitely is. Is. And I like what you're doing because people only think of, like I said in the beginning, people only think there's one way in real estate, there's multiple different lanes. Like the developing, there's being a landlord, there's flipping properties, there's wholesalers event. There's so many different lanes. So the quicker people realize that, I think the quicker we're going to have a conversion of people actually turn getting.

Into real estate, it's going to be a wave, man. I think. So the name of the conference is let's build Birmingham, which is like an all inclusive effort for us, our people, to actually take back, take over the city, make it ours. And then we could start to get some of that gentrification money for the first time in my history to really see like, yo, we're gentrifying our own city along with everybody else. Yeah. Yeah, bro. So I want to invite you, man.

Yeah.

You think you'll be able to make it down? Yeah, that would be dope. So for people that don't know, Birmingham is just a two hour drive from Atlanta. Is that close.

Oh, shit.

And it's central. So you get an hour back.

Right.

So you leave at three, you there at four. Even though it's a two hour drive.

I like that. I like that.

Yeah. So it's local and it's touchable, it's tangible. It's like something that we as a people can do to really advance our, our future generations.

Gotcha. I like that.

Appreciate it, man. So look. Hey, guys. That wraps up this episode of the Real Estate newsroom with Charles Noonan. DS Boone, tell them how to reach you and tell them what else you got Going on.

Yeah. So you can reach me on Instagram. D S B O O N E We drop in game all the time. Literally every single day we dropping 60, 90 second clips of how you can do this. And the one thing I pride myself in it, I'm not trying to do all the theatrics, dance and do all this stuff on Instagram. Hey look, this is what happened to me today. This is how. This is the bad thing happened to me. Or this is how you can make money so that way you can learn what not to do so you don't make the same mistake or you can learn how to do it so you can actually make the same profits or more that I just made. On top of that, I pride myself having weekly free classes. You guys can go to fundedenclose.com and the reason why we do these free classes is because I understand it was a free class that started me and got me to where I'm at today. But also too bro, I'm building. My whole goal is to build soldiers. When I say soldiers, what do you mean? Like I literally put up a property that I was, that I was doing a dumb. Doing a flip on and I literally post and I said yo, listen inside. Once you join the the class, you get access to this community. I l post like yo, I got this dude who want to jump on it. People was jumping like I'm building soldiers people. Oh, I made X amount of money from your free class. I'm ready to get into investing, right? But that makes it easier for me because now I'm about partners. Okay? Now I don't have to come with up come up with all the money right now I might be able to sell you a house. So I'm building an ecosystem of soldiers that learn the game for me for free. And then now they're there ready so when I do have opportunities, they can jump on it. So that's my whole thing with and why I love doing a free class for the front end. Being able to teach people the same stuff that that changed my life but on the back end because now I can partner with some of you guys or sell you guys house. I have people I taught how to wholesale that sold me house and I bought a house over them. So we got a whole little. I love it, man.

Yo bro, it don't surprise me that you got the killer system, right? Like you just put. You just described the ecosystem of like group economics. Like from a free class you can get access to to you. You get access to wholesaling how to. How to, like, just make money. And that's what it's all about, bro. So I appreciate. Appreciate you stopping by. Can't wait till. Let's build Birmingham. Yo. Stay blessed, man. And I'm always, like, rooting for you.

Like, love everything you do, so keep going. Thank you. All right.

Bet that wraps up the episode. The real estate newsroom. Make sure you, like, subscribe and comment on this episode. Thank you.