How to Build Wealth FAST with Life Insurance & Real Estate (No Experience Needed!)

Welcome to the real estate newsroom. I'm your host, Charles Noonan. Today's headlines is about a tenant and a landlord who met face to face. The landlord has on the gray and she went to approach the tenant for the rent and the tenant said to take it. And this is what happened. Oh, clean. And she owes her rent and she fighting.

She got that life.

Another. So, Stacy, what do you think about that?

It gets heated out here. I think it's a little bit mixy, but it does get heated out here, especially when there's money involved and it's old school. Come take it out my. You know what, that bill collector, somebody call you, you tell them pull up. Just ass. You don't.

You don't tell a bill collector to pull up.

If you get in them old school arguments, you would. You might tell anybody this where I'm at. Come take it out my.

You know. So have you ever had to tell that to someone or has a tenant ever told that to you?

I've had to tell that to somebody before. If they call me. Popping off at the mouth. Okay, pull up. This is where I'm at. I'm be sitting right here waiting for you to do what you're going to do. No tenant has ever had that. But I've had some nightmares with tenants. Well, I wish I could have pulled up on them.

Oh, all right. So we're going to get into it. Today's special guest at the real estate newsroom, we have Stacy Randolph Castillo, Allstate franchise owner, real estate agent, business consultant, mother of five, grandmother of two. I'm just going to say the plug in Atlanta.

Okay.

Like we could just summarize everything that you do and that you are the plug in Atlanta. So I want you to just introduce your. Introduce yourself to the show's audience.

All right. Well, Charles did a great job, but I am AKA Red bottoms in business on Instagram and I help people through education on insurance and real estate investments, learn how to build wealth and maintain a six figure salary or seven figure salary with passive income using insurance. I focus on small minority businesses and minority families. That's my focus point.

Awesome. I love it. Hey, there's one thing we left out.

What is it?

6 Airbnb.

Yes, I definitely. It's a great passive income. It's semi passive. You don't have to pull up on nobody. But you might.

No. Has anyone ever wrecked your place in the Airbnb?

They've gotten a little jazzy. We just had to run cleaning the carpets down there. That was going on earlier today. Okay. Because we have workers a lot of times that stay. So they could be a little bit more messy. And we've had somebody disconnect them smoke detectors so they could smoke in our property.

And what'd you do? Charged a lot?

I charged them like $250 and Airbnb covers it, so I just charge them like an extra cleaning fee. But you can charge up to maybe a thousand dollars because air cover gets.

You, I would think. How do they get the smell out?

You just air out the property. Get a lot of Febreze. Old school. See the old school people in my generation, you get the little oil from the little gas station, you pour it in the ve. It's a secret.

And that will take out.

It'll dry it up. And then just get some freshener sheets and hide them under the couch. It absorbs.

So give us a summary on that. How do you take smoke. How do you take weed smoke smell out of an Airbnb?

Get a little bit of that gas station oil, put it in the vents in the aroma, and then like air freshener sheets. You know, like when you put it in your hair, like, you know the bonnet? You never saw the bonnet trick?

I don't have.

Okay, well, the girls know the bonnet trick. You take the fabrics off and the sheets and put them in your bonnet and it absorbs all the smoke out your hair.

All right. Did you smoke as a teen and have to, like, get that smoke?

I didn't pop my smoking cherry till I was 41. I'm like, late to the party and it doesn't work for me.

But for the smokers, I think it's all right. So look, you told me, you mentioned some old New York stuff. You mentioned you was in the tunnel back then, right?

Back in the day.

And, And. And you used to be able to smoke in the clubs. And when women come home from the club, they smell like what?

Weed and the dusty and a whole bunch of other stuff.

I wasn't talking about that. I was not talking about that.

They smell like a whole bunch of stuff. But the smoke.

All right, that's what I was mostly referring to. So y' all would put like down.

For your gain is the best. But you get the fabric softener sheet, put it in under your bonnet, and spin your little, you know, scarf around. Doobies. Cuz that's how we getting doobies on 125th.

And that pulls out the smoke.

Take it absorbs it.

Okay, Fun fact. Yeah, I love it. I love it. All right, cool. So One of the things that you do, and I know you have your series 6, 63 and 7.

Not 7, 6 and 63.

6 and 63. Property and casualty insurance. So you can write insurance for homes and cars, correct? Life insurance, Definitely. All right.

Mutual funds, variable life.

Okay, tell me a little bit about that business and why is that the bulk of what you write at your agency? What do you write most and what do you like to write most and where's your agency located?

Okay. So my agency is located now primarily in Conyers, Georgia. I had two agencies in metro Atlanta, Conyers, and I had one in Brookhaven, but I consolidated them. And my passion is small business. So that is my passion to write small business owners because it's top down marketing because they're gonna have cars, homes, needs for life. Key employee, different things. We're getting out of small business a little bit with my agency now because I'm exclusive and it's not. They're vegans. They don't like that anymore.

Okay.

But I mean, I love, and I love life insurance because my first baby father, we should say, passed away at an early age in a motorcycle accident.

Okay.

So we didn't have life insurance. So at an early age I realized the importance in our community of having life insurance.

Yeah, it is very important. And life insurance is a policy that I used to say when I used to sell it that it's a policy that everybody qualifies for.

Correct.

So you don't have to like have anything special going on to quality, qualify to have a life insurance policy. Like everyone should have a policy of some sorts in place.

And especially minority men, black men, we love you black men. And you should have a labor. I had a campaign going on after George Zimmerman stood his ground. And I had shirts printed with Black Friday film producer Rick Mathis, where you the hands are up. And it's hands up. I'm insured for a million dollars. Because if the police know that they have to pay a quarter of a million, half a million for every black man that is hunted down unnecessarily and shot here in the US we wouldn't march anywhere.

And if they knew that we would, that they would make a family like millionaires or have to cash in on that million dollar policy.

Correct.

That might deter. You know what? That's the first, that's the first concept that I thought of outside of us just being violent back and like us taking things into our own hands. I like that idea because now, you know, but would have to wear the shirt Every day.

But now we would just have to get a national campaign going that is knowledgeable and change the algorithm for the actuaries that calculate insurance because they can't put it on our premium without proving that they're redlining. So. And they. It's disingenuous. They arrest young men because that makes you ineligible. But we got a president running and he doesn't have. He has a record. So now you can get your.

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Can vote and you should be able to lobby to get your life insurance.

Man, that's smart. I. I got to give it up to you. That is intelligent. So cops out there, if they knew that when they shot somebody it was going to make their fam get. Give their. Get their family like $3 million, they may think twice.

Well, you know, the original mobsters is the insurance company. So if they knew they was going to have to account to.

Yeah.

The insurance company that owns the policy.

Yeah.

We wouldn't march anywhere the insurance company would stop that. They will put a financial value on your life.

I see what you're saying. I love it. I love it. So how do you find having these conversations with people with all of the like scams that's going on in the world? Because I just read an article about a couple about an insurance person was actually scamming people out of their money. I'll read the headlines to you. Customers should use regulated industries to their advantage and hire career specialists in each area of their lives, said one industry executive. A former insurance agent who posed as a securities broker without the appropriate licenses has become the target of the Maryland securities commissioner after he took $100,000 from elderly customers and never returned it to them.

Oh my God. It's a nightmare. I mean we saw Goldman Sachs. We saw a lot of these things. So you should go with someone that's trusted and tried. Not everybody on the Internet is trusted and tried. You can't believe everything people buy. Followers. It doesn't mean Anything. They should be credentialed people, professional. You would not go if you had a heart problem, you would not go to the man in the corner store to deal with that. You will make sure that it's a special cardiologist, that he has credentials. So in insurance, you should do the same thing. Banking and finance, these are the most valuable things that you're dealing with. Your liquidity, your retirement. You have to go with a trusted person.

Okay, cool. So tell the audience right there, what are three things they should look for when seeking a life insurance policy as far as validating credentials?

Well, you definitely should look the person's licensure up on the SEC finra. The licensure is there. You should vet how long they've been in the business. And you need to vet the rating of the company in which they work for, where your product is going to be, how many years that you don't want somebody to be representing a company that goes out of business in defunct. And then you cannot, Your family doesn't get paid.

Okay.

Right. That's highly important.

All right, thank you for sharing that. I appreciate it. Because a lot of times it's something that we don't like. Life insurance is something that I feel our community doesn't know about. It's a conversation we're scared to have and it's something that we're not comfortable talking about. So, yeah, I appreciate you sharing that.

Yes, we're not, we're not, we're not comfortable talking about that at all.

Yeah, it takes a while, but like, mortality is real. Right. And I think life insurance outside of property, and I say this a lot as a parent, real estate is one of the most unselfish things that you can do as a parent. But life insurance is also one of the most, most unselfish things that you can do as a parent for your.

Children and as a parent building a legacy for your children. This is the also most undervalued concept. We don't want to insure ourselves as parents and we don't insure our children. So insurability starts at birth. It doesn't start when you're almost dead. 60, we all have an expiration date. And the kids we talked about, weed the kids. We don't know what they're going to do when they grow up. We could be great parents and they could get high by the time they're what, 20 something. So ensuring them younger allows you to get more equity in the policy and grow the value of the policy much better. So we need to Purchase insurance not just on ourselves, but our kids as investment strategies.

Awesome, awesome, awesome. That makes sense too. So it's obviously less expensive the younger and healthier they are.

Correct?

Yep. Alright, so talk about and just tell me this, are you familiar with this Infinite Banking strategy?

I am.

Can you tell me a little bit about that? Because sometimes it gets a little confusing to me how it works. Could you just share like three tips on that?

Okay. Infinite Banking is basically combining life insurance concepts, standard life insurance concepts of whole life and universal life, with an old process of passbook loan. So basically you put your money in there, it's projected out not to turn into a MEC or a modified endowment contract and then you can pull up to 90% of the money in the policy right back out. So for investors or people that have high liquidity, it's very easy to dump your money. Let it still make money. Right. Because what the policy does is collateralize the death benefit. So it uses your death benefit as collateral against the money you took out, quote unquote as a loan so you never have to pay it back, which is a basic insurance concept. However, you're gaining interest still on that money that is not even sitting in there anymore.

Okay.

Because it's collateralized and you can use these same type of collateral concepts in real estate. And I think I mentioned that somewhere earlier.

I love it. Do you write those policies in your agency now?

And I don't write Infinite Banking, but I do partner collaboration beats competition. So standard companies that are going to be aaa like an all state or certain more traditional companies, just like we don't sell bitcoin, we don't touch that, it's unregulated. We're not going to get on the new kid on the block. But I have business partners and colleagues. As you said, I'm the plug. I know a lot of people and I collaborate with them. And I can refer you to some very skilled certified people. People, because there's levels to this, this lifestyle and you don't. Everybody that says they're Infinite banking is not certified. In Infinite Banking you had to go to classes. It's almost about a year process. Yes.

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Okay, understood. I'm, I'm just starting to get into it and starting to learn. So it's an area that I'm particularly interested in because I'm understanding that that principle that you put in, you can take the money out, use it and put it back, but if you put more, you get the benefit of earning interest on the higher amount of what you put in and you still get to borrow from it.

Right. You're taking a loan. So all insurance concepts like that, universal life, whole life and the infinite banking. But the infinite banking is now allowing you to take out 90% because it's collateralizing the 90% that you withdrew off your death benefit. So it's like taking a loan to your death benefit. So you still are accruing daily compounding interest. So you make interest on interest.

Let's really educate here. This is what, this is what the podcast is really about.

Right? Okay.

So round numbers sake. And these are round numbers we're just making up. But I want people to understand this concept. But because it truly is a concept that I feel other cultures and ethnicities use to make money, but we don't.

Correct.

So just help me understand. If I gave, if I started a whole life insurance policy with $100,000, I'm able to pull out 90% of it.

90,000.

So after how long?

10 days on infinite banking is 10 days. So that's why it's the new kid on the block. It's almost like a passbook loan from the old school concepts.

Okay. And I'm just trying to understand. So Now I have 90,000.

Correct.

What's an average death benefit for a 35 year old male non smoker of $100,000 life insurance policy.

Now 100,000 is your drop. So that's the money you put in. So you probably are going to have maybe a couple of million in death benefit. Right.

So let's just say 2 million.

2 million.

We're making these numbers up for the sake of trying to Understand the cost.

And you have to have that higher death benefit. So you don't mec the policy. You can't. Oh, you don't want to overfund the policy because this is the tricky part. For those that pay taxes, if you over fund a policy and it's not structured right, the IRS, just like if you deposit $10,000 in the bank versus 9,999, they get notification. So we don't want to do that. We want to hide. Come, not hide, but we want to go under the radar a little bit. Right.

So here's the, here's where the infinite banking comes in. I have a two million dollar policy.

Death benefit.

Death benefit. I paid a hundred. I put $100,000 into the policy.

Correct.

I got 90. I went, I did a real estate transaction. I now have an extra $50,000. So I have 140. I'm going to now put the 140,000. Wait, there's a step we're missing on the hundred thousand dollars. I'm earning interest on it.

You're still earning it as if it's sitting in there.

How much interest am I getting? Am I earning average? You can make it up.

Let's say prime. Let's say 8%. Let's say it's prime or prime plus two.

Okay, so, so I'm still earning 8 to 10%. Let's say 8. I'm earning $8,000 a year on this $100,000. I now put in 140. I'm earning interest on 140 because I put the, the 90 back plus the first 100 840. So, so I'm putting the 90 back and the 40 that I made.

But it already still thinks you left that first money in there. So you're really reinvent.

So now I'm getting interest on 240 correct. 240 because you're getting more inch.

Correct. Because it thinks that first money was there.

8% correct. Let me just do some quick math right here. Right. I'm just going to do some quick math guys. This is important. 240,000 times 8%. 19,002. 200 is now what I'm getting in interest when really I only put in 140.

Right. And that's based on the concept that you replace it. So it depends on the, the goals of the purchaser. And it also, this is where especially in getting a specialist that knows what they're talking about is because we have to have real common raw conversations about this. So we got to get all up in your finances to see what your real plans are. Some people just want to pull their money back out and use it and don't think about putting it back. So if that's your goal, we have to may raise that death benefit to 4 million. Because if you're going to keep coming in and out and keep coming in and out, then I have to base the coverage off of what is the maximum you're going to do in a year. So we got to just be.

So they limit it a little bit.

Well, you don't want it to report to the irs because now they're all in your finances. Now they see where you're pulling and.

What you're putting it. But I can't just keep taking money and put money in and out like you can.

But you want to set it up in the initial onset of the policy on how you want. How you want to go. So you want to be honest about your goals and your dreams and your vision. So I want you to tell me the highest way you want to go. And I'm going to project the policy based on whatever your max goal was and your concept. And then we can always dumb down from there. But you can't go up.

You want to back into it.

Correct.

So if I say I want to make $500,000 this year, the specialists will structure that out on how I could do it.

Correct.

And you got people that do it.

Correct.

All right. I love it. I love it. I know.

There's one more caveat that people doing with infinite banking that is not recognize people. Like, if you're dropping a hundred in there, people are using it to pay off all their debt. Because you can structure the policy that way. And it disperses payments to pay off all your debt over a certain time frame, pay off your mortgage. There's a whole budgeting piece to it. You can also use it to utilize for those who have that discretionary income. And they want to say, I want to do almost annuitizing it. I want to have a $5,000 a month income and put myself on a draw. People use it for that as well. So it really just is a real.

Conversation for the audience. Annuitized means to purchase an annuity.

Immediate pay or.

Yeah.

In the future.

Right? Okay. Yes, yes, yes. And that goes based off of the mortality rate.

Correct.

All right, cool.

And your health?

I got my life accident, health.

All right.

License as well. All right, awesome. I love it. Thank you so much for sharing that. So now let me ask you without digging too Much into your personal business.

Right.

Because I know you do. Well, we talk off camera.

All right.

Right. We're just going to leave that right there.

Okay.

Do you participate in that, in infinite banking yourself?

Yes, because I like, I believe, a diversified portfolio. So, yes.

What else do you. So just educate, because sometimes we get money, we don't know what to do with it. So you just get hit with a hundred thousand dollars from wherever, family member, whatever. Right.

Okay.

Talk to me about diversifying an investment portfolio. In your eyes, there's no right or wrong. Some people can say, oh, I'm just going straight infinite banking. Some people say, I'm gonna buy a building that's gonna pay me 4,000amonth, cash out. I'm straight. Right.

Some.

Some will put it in the stock market, some will buy business. So just in your. Just. Just your opinion, no right or wrong answer, you get a hundred thousand dollars. Talk to me about what that looks like for you, Stacy. Like, how would you diversify that?

So if I got $100,000 or I've had $100,000 cash just for me on my portfolio, I probably would divide that in four in quarters and diversify in different avenues. So. So 25 of it I may put in real estate, acquiring some properties, which I did, and I started the Airbnb, because right now those are just residual income. And I purchased in an area like, you're going. We'll talk about Birmingham, that has high cap rates. So you want your cap rate to be high as far as what's the return on the investment in that area? Buy low and make high profit.

Right, Got it.

So that's the key to that. Low expenses, high profit. I will probably take another 25 and put it in something more steady. Infinite banking is the new kid on the block. It could be volatile. It doesn't have a. Just like the. Just like the. What are the vaccines. We know what was going on. That's new. Right? So this. A new kid on the block is not tried and true over 70 years.

So it's not something that other ethnicities have been doing for years and years and years?

No, nobody has been doing it for years and years and years. They've been doing other products and doing them in that way, but no product has necessarily come on the market giving you that 90% withdrawal. So I would take 25 and put it there. 25. Me, I'm old school, so I'm going to go with something like a mutual fund. Right. And I like cap growth, and that's what I invest in. Cap growth is about 10 to 12%. Right. But it's slow and steady and it's balanced. So I don't have to manage it myself. I let the fund manage it, but I do emerging markets like pharmaceutical blowing up, so you might get up to 15% and technology AI blowing up.

Yeah. Does that come with downturn downside protection?

It does because it's a lot guaranteed because you can't go all the way up and upside, but you can't go.

All the way low is so down, down downside protection means, like the potential is limited as well as the potential gain is limited as well as the potential loss. The potential loss. You can't go less than 8%.

Correct.

The potential gain is the flip side. You can't go higher than 15%.

Correct.

All right, so mutual funds with that. And do you have access to your money in those or is there penalties if you try to take them out?

Mutual funds, you're going to have much better access to it. You can go in and get your money anytime. But I also try to tell people when you get to a certain level in life and you start investments, you want to start investments like these things to me more. My plan is to set in and forget it. As I'm getting closer to retirement age, I wanted to keep growing. I also then purchased, let's say, the other 25. I got grandkids, young kids in the family. I purchased mutual funds on them because you could drop 5, 6, $10,000. And the projection, by the time they turn 50, they should have 1.2, 1.3, 1.6 million. But I own it, so I can still go back. It's never what you. It's never what you control. It's never what you own. It's what you control. So I really own it, even though it's their policies. So I control that money as a back door if I ever needed it. But if not, they'll be rich when I'm gone.

Damn, I love it. Stacy Randolph Castillo, you. We ain't know we was gonna talk about none of this, right? No. Now, totally not in our county. So with this kind of money, right. Obviously you do well. What do you do with your money with your discretionary funds? Like, what are some of your hobbies?

I am a travel nista and I love going to the international terminal and leaving. And that's my next pursuit. I want to get into global investments and I'm trying to learn more about foreign money. And I would like to get my dual citizenship and be in Africa. So I'm exploring my expat options and that's my passion.

Do you solo travel?

I do. I'm a big girl. Got my big girl panties on now. And I figured it out. I was nervous at first.

Got your big girl panties on?

I was nervous at first.

Okay.

You know, but I've, I'm, I'm. I popped my cherry and I'm outside. I'm going to the airport.

All right. And you enjoying it? Living it out.

Love it.

Now, how many solo travel trips have you gone on so far?

Maybe only five thus far.

That's not a low amount.

Yeah, but it's fine.

Did you watch the episode where we had the passport abuser?

I watched the episode where the girl was traveling for free and I got some tips from her and I. And, And I went on there. Cuz I. Yeah, cuz I went on the Delta Shop and I ordered like my Sephora stuff, my one size.

Got your points and all that.

And got my. And then I looked in there. I've got green fresh at the house. I need to give them away because I'm not cooking those meals like I had the kids cook them.

Yeah, because.

But it gave you like 3500 points and started racking up my points.

So you're, you're getting. That's the purpose of the podcast, to share information like that. Because there's so many things that we don't know. So I bring people on that do extremely well in their industries and I asked them to share a little bit about what they do and how they do it so that we all can kind of like take advantage of some of the things that are out there.

It was great, great information.

So I love it. Now you talk about emerging markets. You do not have to go all the way to Africa to invest in an emerging market.

No, you don't. But I would just like dual citizen. After Covid, I just am like, I like here, but I want to, you.

Know, not another place.

I want to see what another place is like too.

I hear. I like it. I like it. So are you familiar with everything that's going on in Birmingham?

I am. I've been to Birmingham before and looked at with some other investors, not for myself. And so when I saw that you were going there, I purchased my ticket already, people. So I've already purchased my ticket for.

Thank you.

And I like what's going on in Birmingham. I like the concept of what you're doing are bringing 500 people. Right. To try to buy properties together. Why? Because collaboration beats competition. And when. And if Birmingham lets us sell, even if 25% of those people are ready to sell in the next four years, it's gonna be a big payday. Cause they're gonna run the market in the comps.

Yes. I don't want them to sell, though. But, hey, we got some headlines on Birmingham. I want us to. To own it. A lot of the land is vacant. A lot of land is with the city.

Okay.

Others are starting to come in. And we'll talk about the next headlines for that, too. Okay, but. And we call that, like our local news. I want us to. 500 people to actually own it, buy it. We're all planning to do blue doors on the properties that we buy.

No, I do a red door thing, so that's my thing, too. Okay.

All right, cool. So, you know, like, just that solidarity and the history behind all of us doing blue doors. Like, just imagine 500 houses in one city that all have blue doors.

Is there a. There's a history about a red door. So in the Civil War and the red door, when your door was painted red, that means you own your house free and clear. Now, I've never researched blue doors, but I will.

Blue just has. We're making the definition of blue.

Okay, so what is this?

Blue is going to. Is going to represent a group in 2025 that got together with the concepts of rebuilding a city, bringing its original culture back. And blue has similar. Has symbolizes certain meanings like peace, prosperity, unity, love, and culture.

Okay.

So that's the purpose behind those that build through the conference. It's February 22nd to February 21st to the 22nd in Birmingham, Alabama. It's called let's build Birmingham. And that's the concept behind the whole thing.

I like it. I love it.

Awesome. But let me tell you, because I'm gonna try to get you out of Africa, right? I'm gonna try to get your. And that 25% that you put for Africa, I'm gonna try to get 10% in Birmingham. Here's a. Here's an article that. A very recent article. Article too. This article talks about Birmingham business to address manufacturing shortage with 1.75 million in funding rounds. So what they're doing, they're bringing manufacturing because it has a manufacturing history. They're now bringing, like, this is the. The rebirth of Birmingham. It is going to be the high.

Detroit of the South.

No, the Atlanta.

The Atlanta.

It's another Atlanta.

Okay.

It's going to be in another Atlanta.

Not first 48.

No.

Okay.

No, no, no. So Listen. A Birmingham based ed tech company recently closed a funding round of $1.75 million and is using it to help prepare refugees for the workforce. So they're bringing the workforce back, they're bringing the manufacturers back. Birmingham is going to be like the next booming location. Tech is coming to Birmingham. The federal government gives money, has given money to Birmingham to like jump start development. There's already an amphitheater there. There's tons of redevelopments there already. The schools are starting to turn into different uses now. Like the schools that are vacant, they're starting to turn those as well. So Birmingham is going to be like completely, completely, completely on fire. Okay, I said. I said Atlanta because just to paint the picture in people's minds. But insight tells me, right? So I'm in with like, I have meetings with the. I've had a meeting with the governor.

Okay.

The senator balling.

All right.

The mayor. Right, okay.

At.

And I' ma just spill the beans.

All right.

I'm gonna tell you what Birmingham's really gonna be like.

What's gonna be like?

Birmingham is gonna be like the next New York City.

I thought such a New York boy, he's. I knew he was gonna say that. Okay.

But it's not. I'm not making this up. I'm not making this up. So, yes, it's a city. I love it. Right. I'm just checking time. I'm not making this up. It is going to be the next New York City. The developers, the same developers that have started to develop in New York City when it was this bad, Right. The Bronx was burning. You didn't want no parts of Brooklyn. Queens was like in shambles, right? Those same developers. This is like the third generation of those developers. They're coming to Birmingham and they're bringing that concept. So in a lot of articles, you know, New York City has the most expensive zip codes in the world, the most expensive boroughs in the world, the most expensive high rises, the most expensive brownstones in the world.

Correct.

So I say that to say, wow. I mean, and I'm just bringing this stuff up because you educated. So I'm gonna just want to educate our audience a little further. This next article talks about. And I'll let you read it. Million dollar Monday. Million dollar Monday. This is October 27th.

And inside.

This is yesterday. All right, Right.

Well, he just said inside. Look at New York style brownstones in Highland Park, Alabama.

That's Birmingham. So look, this is from the. This is from the Birmingham Business Journal. All right, let me just read this one. Little article. A long anticipated residential real estate project is wrapping up in the south side of Birmingham. Brownstones are for sale in the historic neighborhood of Highland park, hitting the market at $1.452 million each. Okay. Four brownstones are for sale in the Maiden Heights community listed by, I'm not going to say the broker who listed it because they ain't. They not sponsors of us.

Right.

So do you believe me now when I said it's getting a little New Yorkish, it's the next New York City?

I do. It's been, it. Well, it's been coming up like I told you, but I believe you.

They are developing Birmingham. The city of Birmingham is being developed to model a combination of what's happened in Atlanta with like downtown, how it's just like popping, vibrant the structure and then New York City, how New York City got turned around over like a 10 year span.

Okay, right.

How we got gentrified to brownstones being 300,000 and 200,000. Now they're three and four million dollars. This article supports the fact that Birmingham is next.

So are you going to be building brownstones or single families do people complexes? What are you trying to build?

I'm not up to brownstones yet.

I'm just gainer homes.

No, no, no. I build regular three, three bedroom, two family homes and I built four so far. The most recent one, I got it down to a science where I built it in 65 days. So I just have like, I've really been working a lot there and it's, it's become a passion of mine to be a part of this.

Okay.

Gentrification, I would say, for lack of a better term of Birmingham, but I want to lead it and I want us to gentrify it. So as they build four, I want us to go build four.

Okay.

Right. When they build, I want us to double it. I want us to build 8, I want us to build 12. So let's build. Birmingham is going to be like a historic event where we actually kind of like take control and play a role in the gentrification of, of a city that we can call our own, which.

Was our city in the beginning.

That's right. That's why we in there right now. That's why I'm saying like, hey, let's go. We have to go. We got to be there. All right, all right. So what made you get your ticket?

Get my ticket? Well, coming on the podcast, I like to support, but I'm very familiar. I literally just was in Birmingham looking at apartment Building purchase.

Okay.

And it's called south side of the south area, which is right outside. When I was there years ago, we went to Norwood. Norwood and Highland park are right there. They're surrounding. And Northwood is. Norwood is already all the way up. So I looked at the south side and this a lot of dilapidated apartment buildings.

Yeah.

So when I saw you were doing something in Birmingham that's kind of in my hood a little bit. A little bit outside Atlanta.

I come on there, don't know this. It's only two hours, two and a half hours.

Yes.

Two hours, two hour drive from Atlanta. Birmingham is just a two hour drive from Atlanta.

Yeah.

All right. So you. So you was like, let me see what this is about.

Yeah. I said I'm already going down there. So I'm already having. I met with the councilman down there for urban economic development before.

Yeah.

So yeah, I think Birmingham is a good thing. And what I'm doing and making with the Airbnb's is a similar concept in Atlanta.

Okay.

Because you got to go outside and Macon is what, an hour and a half from metro Atlanta. So Birmingham is the same type of distance.

Have you, have you purchased property from the Macon County Land Bank?

I haven't purchased it from the Macon County Land bank, but they have what's called Newtown Macon.

Yeah.

But they are trying to use. So I had to update my address, my license address. But they're trying to utilize people from the community.

Yep.

So I am Kendall Courtman, a couple of people there. Seth, with the mayor's office. So I have the blight list. I have like 48 pages of everything blighted, the demolishing list for making. So I like that area because the cat rate's high.

Yeah. Awesome. I love it. I love it. So here, guys, you can google this. Making Bib County Land Bank. It's not going to interfere with what you're doing.

No, go in there, make it. Kendall Cortman, is your guy making County Bib Land Bank?

Yeah.

And they have it.

And they can. You guys. Guys can buy properties. They do auctions once a month. But there are two or three other auctions and here's the really good.

Three auctions total every month.

Yes.

Yes.

Here's the. Here's the good thing about that land bank. Right. Or. Or no, here's the good thing about that land bank. That's the one place or one of the places in Atlanta or in Georgia that you can go buy properties like that because Georgia is a redeemable deed state. So all the tax lien properties, they have to. And the tax deeds that get purchased, they have. You actually have to wait 365 days until you actually can take action on the property. Correct ownership. And then still you still not in the clear. You still have to do quiet title and clear the title. Correct. So you might be looking at going to the Macon County Land bank and getting a property, let's just say 30 days. Right. Free and clear, it's yours. Especially if you get it from the land bank. Because they quiet the title.

Correct.

Versus waiting in the rest of the state a year and maybe like three.

Or four months before you can do anything with the property.

Before you can do anything. Right.

And then build out time, as you said, 60 something days. And then, but yeah, I like that area. And they're building that area because the logistics, you know, they're building a rail from near the Savannah. Yep. And then they're gonna build it back to Atlanta. So that's gonna take a lot of people out of metro Atlanta to come down in that price point.

Macon might be next.

Making it. I think Macon is a good way. And I like now I have working on a deal with some. One of my properties, getting paper, transferring paper for paper. So they're printing paper at the Federal Reserve and the deed is nothing but a piece of paper. You can sell your deeds if you own the properties outright to banks. A lot of west coast banks, banks. You sell the mortgage. So I do owner financing. So I get money down, get them on paper for prime interest rate or prime plus two or I give them a discount, 6%. They stay in there for two months, then I take their deed and sell it to another bank. Just like Wells Fargo sells your mortgage.

Yes. I have over a hundred properties on seller finance.

It's the perfect. It's the best thing ever.

Yeah, yeah, yeah.

You've never sold the mortgage to somebody that's the like.

No, I don't because I like, like that's my reach, that's my bandwidth. That's, that's, that's like in my wheelhouse.

Okay.

So yeah, I do have a website where we sell land to people and if they want to sell a finance, we allow it. I sometimes allow people to trade properties up. Like if they want something bigger or better, I allow them to trade.

It's almost like a, like it's your passion, your fun.

Yeah, yeah, yeah. But then I get to call on all these investors if we ever needed to leverage like a huge project, like what we're doing in Birmingham. I have Them within my reach.

It's a good thing. It's a good building relationships.

I have the relationship now. Sometimes they might be a little late. I let them slide. Sometimes they're a little late. I get 15 day grace period on the late.

Okay.

So I try to do it in a way that helps us and gives us that. I do it in a way that.

You do it in a trading favors way.

Yes. Because I understand our people.

Okay, right.

So it's by me for us and with like the understanding to make it friendly. It's structured friendly for our people.

Right. And if your back is ever against the wall, just sell the paper.

I never thought, thought about that. I never thought about that. But it's a huge way to collect passive income.

Correct.

Especially so guys. So we're going to teach a little bit and then we almost got to get out of here.

All right?

Right, so here we go. Land banks, you can buy land, right? You buy a ton of land from land banks. You can buy them from over the counter sites in person auctions or just regular land bank auctions or from the city.

Correct.

You build a website where you sell land, right. You sell a finance it through a site called Pay Then. So you do your contracts and everything but Pay Then P A Y T H E N structures out the the collections for you.

Okay.

So it collects the money, it bills them monthly, it sends them reminders. Your bill's doing 10 days, your bill's doing five days, your bills doing three. Your bills do they hit the card? If not, you're three days late, you're four days late, you're eight. You're about to get hit with such and such. Right. So Pay Then is the site that I actually use to collect all my payments.

So you're buying the one and then reselling the link and reselling it on your site.

And I'm, and I'm 5xing it minimum.

Very smart idea.

Yeah.

Okay.

People don't, don't know where to go. The information that we have people go, what are some, what are the top three places people go to buy real estate?

Realtor.com Google Zillow and Red Fin realtor.com.

Real.Com Trulia all the retail places, they don't. No one really thinks of going like wholesale or, or where these properties are actually being purchased from. So the builders actually buy the land, build for 200 000, throw it on Zillow. 500 000. Correct. Give it to a realtor. Right. And they are making kill a kill.

They are Killing it. And that's my next piece. I want to go into development.

So that's what let's Build Birmingham is all about. I'm bringing people to. To the place where they can buy the land and teaching how to develop. So at the conference you're going to learn development ground up. I'm going to have a booklet of everything that you're going to need people. The concept is for people to come in on Friday, meet network, get to know everybody. I'm putting everybody in one room. Realtors, contractors, developers, builders, quiet title attorneys, trust attorney will be there. She's speaking. The lender is going to be there. So we actually have a lender that caters to African American new builders with no experience.

Love it.

So. So the lender is actually going to be able to let. So now without having all these experience we needed, we'll be able to get into development.

Okay. And that's a good. It's not hard money.

No, it's not hard money. No. It's traditional new construction money. Ground up development money.

Do they only. Do they do other states? I'm looking at Houston. I want to do other states.

You the plug.

But I'll be in Houston. I have girlfriends that are building in Houston. Really big.

Awesome, awesome, awesome. All right, so who you bringing to let's Build Birmingham?

My collaboration team or some of my players. So the infinite banking certified Infinite banking consultant will be there. Dr. Shirley.

Is she in Birmingham?

No, she's in Atlanta. So I may invite my girlfriend Tina that's in Houston. We're collabing on buying some land down there in Houston. So we'll talk off script about that and doing Duke plexus. So that's why I asked you what you're trying to build in Birmingham. And then we'll see whoever wants to. Anyone who is a team of people that ready to get to the money.

Ready to get to the money. All right. I feel like I don't be showing all my Birmingham articles. I don't be showing all the stuff that I got like for Birmingham. This is for like the elite. This is for the people that. That want to. I never showed that. That brownstone.

I feel special.

Yeah, I never showed that. I don't. I don't really. Well, it actually came out yesterday, but there's a lot that I have where people will go absolutely crazy. But it's for like minded individuals.

You got to be like minded.

Got to be like minded. You got to be like with the program. I don't want people coming and flipping it ain't. Let's flip Birmingham.

Okay.

Cuz all we doing is getting nice and pretty and ready and then they going to buy it and hold and then they going, no, you got to.

Hold it a little while. You got to hold it sometime.

But I know, run your Airbnb, run your group home.

It's more than just Airbnb. You can do furnish finder. We're on Expedia now. There's a lot of Airbnb is on furnish finder for the nurses and doctors.

What's the most I don't want to get too personal. What's the most people have that you've heard people have made from an Airbnb in one month?

Well, Atlanta, when we were in Atlanta, the Airbnbs, I think we made one month, maybe seven, 200. But that wasn't like a holiday.

What I've heard property that was just.

A two bedroom apartment that I rented and re rented.

A two bedroom apartment. You rented and re rented for 7200. So now we got this three bedroom house, two bathrooms, open floor plan, tile all the way to the ceiling in the bathroom, beautiful black backsplash. We don't have to sell our properties no more. We can hold them.

You're gonna make. In making just as an example, I'm averaging between 22 and 2500amonth on those properties and I own them outright.

I love it.

So that's higher than the rent in that area.

I love it.

And it's upkeeping with rents in Atlanta and it's in the country.

All right. Do you teach this? I do because I just built the house right now like it just got. I just got the CFO yesterday. Certificate of occupancy yesterday. So news flash, Charles Noonan got the certificate of occupancy on the house that I built in front of everybody on, on the Internet, on Instagram.

And then I like to sell my Airbnbs after I keep them for a few years. I call it Airbnb in the box. Cuz investor would like to buy that from me. I leave all the furniture in it. I like staging and decorating, girly stuff. You know, I think that's putting the little I get on Amazon and be ordering the cheapest little stuff and it looks so cute.

I'm gonna need your help. Would you recommend so so my builder does Airbnb in Birmingham with their properties. They don't sell them.

Okay.

With the ones they built. So they build and they do Airbnb. Would you recommend I do that?

If the money is if it's higher than rent, I would definitely try it out. And Furnish Finders is a site that's like Airbnb but it's for generally for doctors. So if it's near the Birmingham hospital, they're going to want to come down. These people that are building all this investment, that means they're going to travel, travel to this area. They're going to have conference in there. They're going to want to stay at some place decent. So making the decorated, the lines clean as possible and things like that. You can get your money on Airbnb because people are traveling there.

I love it. How do people find you? Because. Because you have a wealth of information. I see why you are the plug for real.

Well, right now just follow me on Instagram at Red Bottoms in business. And it's all spelled out. I'm old school. I'm not abbreviating Red bottoms in business. And I have some financial planners coming out for next year for us like 1099 self employed people to kind of help them with their budgeting. Because when I consult people, that's like the biggest thing. Especially if they're in a cash business like the barber shops and stuff like that. They don't know what to. They can't manage their daily money. Yeah. But Red bottom's in business.

Okay.

And it's the blood, sweat and tears that connects us all in business. That's what it stands for.

I love it, I love it, I love it. All right, so look, Stacy Randolph Castillo, thank you so much for coming by and sharing all the information that you share. I feel like you gave us like three master classes and all we got to do is follow you on Instagram.

Follow me, message me. I'm business consultant, of course. Insurance products. Your PNC products. Life. Oh, yes, Georgia. Real estate agent in Georgia. And I'm the plug. I got tax people for the BOI reporting. That's like a big thing going on.

Okay.

Because if not, you're gonna get a fine.

Yes. You know, Got it, got it, got it. So let me, let me list these and then you tell me if I left anything out.

All right.

Auto insurance. You do?

Yes.

Homeowners insurance. We got you renters insurance.

Definitely.

We got you Airbnb insurance. Or is that separate or.

No, the Airbnb does landlord insurance. And then of course you're running it out. It's called landlord insurance.

Okay.

And Airbnb has air cover, so it also adds an extra layer of protection.

Business insurance. Business owner's insurance. Boi.

Correct.

Okay.

Bop, Bob bop.

Right. Business owner's insurance. What else?

Jewelry coverage. Big thing. We got Rolexes now. We came up as people.

Yeah.

You got to cover your jewelry and.

It gives you the personal articles.

Personal articles. But that jewelry is very. In our community. You know, everybody flossing.

Yeah.

Then they chain missing and it has the. I lost it coverage. Is included in jewelry coverage.

Oh, all right. Okay. Okay. Airbnb consultant, I must say.

Definitely.

All right, cool. Can. I'm gonna consult with you because I need help, like building out. Somebody told me Rooms to go does 100 financing for like a couple of years, two years or something.

They may. But you. I don't. I'm not saying Rooms to Go is pricey, but they like, literally, you can stage Airbnb off the Amazon there just certain things you're going to have to have. And Ross, T.J. maxx, go in there, pick up the list and this.

My house is be plain and like, they be like regular. So I need help.

Well, minimalist is good. You don't want overcrowding. But you. This is what I do with my Airbnbs. Cuz I'm kind of. I'm not bougie, but I don't know. Bad.

It has to be done to get rented out. Me, I'm a male. I'd be thinking like a couch, a tv, stainless steel appliances, and I'm out of there. You might do something and be like pictures, stuff that goes on the living room, the dining room table.

Keurig. I clean out my spices in my house that are extra. You can ask somebody because we all got extra condiments and I leave that in there. They love that because then it's like already staged with some food. I leave waters, thank you notes. Uber gift card.

Yeah. You going to have to. Maybe I could hire you to decorate.

Okay, sounds good. If it's not making money, it's not making sense. But yes, you can hire me. I would love to do it.

I'mma pay. No, I'm definitely.

I would love.

All right. I got to. I got to just consult with the team and make sure that that's what.

And extra towels. Like you're not calling the front desk in the hotel. So. Things that piss me off in a hotel, you think about that in your Airbnb. So if you say it's six people that can be there, try to make sure the six people can have two towels a person because they can't call the front end. These little things get me five star rating and super host because it's. It's personable.

Yeah.

The automation wishing the people safe travels to their next destination. These are little things.

That doesn't sound passive to me.

It's semi passive. So that one's semi passive. But Airbnb has come up where you can set check in, checkout instructions. So you can just. You type it one time and you can copy easy.

What's the name of the service that manages your Airbnb for you right now?

Because I only have five. I'm the service. So I've been doing it because it's. It's not a lot, but they do have tweet decks for Airbnb. I just haven't as gotten to that level where I feel like I like talking to them. And then. Why you gonna pay somebody? You keep all your money.

You want to manage another one? Look, I'll let you stay in it whenever you come. Whenever you come.

Oh, now that might. But Queens is. This is far.

No, I'm talking about in Birmingham, my house.

Oh, in Birmingham. Yeah.

Yeah. I'm not. The. The team told me I can't sell it.

Okay.

They're like, Charles, like, the mission is not about. It's bigger than money. It's bigger than 60, 70, 80,000.

So I'll look up the rates. You said three bedroom, two bathroom.

Is the address. 2867 41st Court, North Birmingham. Giving out an address look like it's our. It's the communities. I don't. I wanted to build that particular house just to show our people how easy it is, because we don't know in New York, when they build, they put up all these big walls, big plywood. They put them over seven feet. So the people in the community can't. We can't see what's going on. We only see when they take them down and they put the for sale sign up.

And ring camera is important.

I got my ring cameras because you.

Got to be able to see what's going on. The motion light security, you gotta be right. Okay.

I'm. I'm connected. Like. Well, I have to have that from the. From the very beginning. Oh, and we got our grass growing already, too.

Oh, that's nice.

Yes. I got ring cameras in the front, the back, and the side.

Correct. Okay, so that's good. And you can hear the people.

Yeah, I turn this on. Snow.

I'm sorry. You have a country porch on there. I have a swing on one of my porches. I like that. And they love it. They go out there and you can see them Smoking cigarettes and talking cash money about whoever.

Sound like a little bit of a liability to me. As insurance license agents, we think insurance first.

Yeah, we might. But you have to get a good contract, didn't they? Right. Anything. A bag could fall. I mean, you never know what's going on.

People be on vacation to Airbnb, Drinking, smoking while. And having fun. Somebody slip out that swing trying to.

Do something, and I put a grill in the back of some of them and picnic, and you just try to make it. And the best thing I tell you is once you set your Airbnb up or get it, you think it's set up. Spend the night or a weekend in your own Airbnb. Cook in it, you know, shower in it, sleep in it. Yeah, because then you'll think of things.

Right. Like getting out of bed if it's cold. I might want a little. A rug on the bottom. And I wouldn't think about that if you didn't stay. If I wasn't thinking of how do I like to wake up.

Yeah.

A throw rug or whatever you call. You got heated floors in Mermaid in New York.

Okay, I'm gonna blend.

I got heated.

I love the heated.

I got towel warmers in New York.

Did you do the twist? I want to buy this, but it's probably price. Was it until when I went to Singapore, they had the toilet that, like, opened up for you when you came in and lights came on. It cleans itself. I was like, this is nice.

This. This is not about Charleston Brownstone.

Don't put that in the Airbnb. The heated floors is definitely. It's cold.

It's cold in New York. Yeah, we be cold. And the towel warmers, too. Like, when I redid the house, I had to have towel warmers because when you get out the bath, the shower or whatever, a nice warm towel, it.

Have you ever had the heated toilet? Like that is your next venture. Put one. That thing was so. I mean, just imagine.

So look, if you do a brownstone in Birmingham for $1.4 million, that's what they're selling for. I guarantee you they could have like, marble tile, marble backsplash, floor to ceiling tile in the bathroom, heated towel rack, towel warmers for less than like $700,000 from a builder's perspective. Right, Right. They're selling them for $1.4 million. I have the lender that will lend you the money to do it. If you want to build a brownstone. You sound like you got everything you need. You sound like you know how to Deck it out high and that people gonna pay that price.

I would try a routine in mind.

But the comps are already there because they're selling four of them right now for 1.5.

I'm gonna talk to you. I'm definitely gonna talk to your lender.

Talk to my lender. I got a builder for you too. His name is Manny.

Okay. Hey, Manny. Where's he from?

Going give you his number right now because you the plug. Let me give you Manny's phone number.

Where's he?

2, 205. He builds in Birmingham.

Oh, I got some build. He's. Okay, go ahead.

He builds in Birmingham. He's a licensed insured builder.

Okay.

From New York, though.

Okay.

So he knows brownstones. He got like, the New York swag. He's gonna put that in Birmingham. 205-994-6594. Manny the Builder will build your brown stone.

Manny the builder sounds super sexy. I just want to tell you, Manny, if. If.

Tell them right there in that camera.

Manny, I'm gonna call you.

All right, Stacy.

Red bottom.

All right, cool.

Let's.

Stacy, thank you so much. I really enjoyed your time here. I appreciate you coming. I appreciate you sharing so much. Right. I really do. It's not often you have to be at a certain level in life to start to give back.

Correct.

You have to have way more than enough to start to just, like, throwing game out there like that and information like you did. So thank you so much for coming. That ends this session of Real estate newsroom with Charles Noonan and Stacey Randall Castillo.

Two snaps.

Thank you.