How To PREPARE For The Next GREAT DEPRESSION (& Future Recession) Ep 124

Well, the world is changing fast right now, and it's been said that the meek shall inherit the earth, which is also a deep cut Motown style banger from Little Shop of Horrors. But I digress. You know, I'm all about the golden rule and being kind in our time that we have to everybody that we know on the planet. I also know that when troubles come and suddenly inheriting the earth seems pretty tough for the meek and people feel like everything is rigged against them, there are some people that will whine and complain, and quite often they're the people who didn't heed the warnings. So we're going to talk about preparing, preparing for the looming changes that not only can help you survive, but help you thrive in times of disadvantage. So let's get prepared. Foreign Yep, it's part two of my uplifting and optimistic breakdown of the looming economic misfortune that we're all gonna experience in the future or possibly are already experiencing right now. Yeah, well, for work, I'm on the Tick Tock and the Instagram. Yeah, that's what I tell people. I do it for work. But I'm seeing all the millennials posting all these videos, and I've been seeing them for years where they're cheering and for the economic downturn. And now that we're talking about a recession so much, it's starting to kind of become more of a reality. They're always on their yelling and screaming. I've seen them since 2015 cheering for the housing crash, cheering for recession so they can finally afford a home. And if you're wondering why I've seen them since 2015 doing this is because we actually had the first round of bidding wars and crazy demand on homes that already happened once. 2013 and 14 pre TikTok people were flooding my Facebook and, well, my MySpace and my Twitter with early versions of the mantra, the millennials are waiting for it to crash. So if you're a super geek like me paying attention to all this housing crap, this, this is nothing new. And I've done my best to tell my clients in 2012, all the way up to today, that while you're cheering for a crash and waiting for this economic implosion so you could swoop in and finally get a deal, this is the reality. What's been happening while you've been waiting on the sidelines since 2012, every year I've been telling anyone who would listen to me that your rent's going to keep going up in increases that will make your brain melt. Since 2012, I've also been telling people that when mortgage rates were at 3 and 4%, that those rates were insanely low. And despite the fact that they might be up a point or two from the last time that you looked at four, four and a half percent, maybe even 5%, that's so stupid low. And since 2012, every year I told them that there's this thing that happened back in 2008 and 2012, it's this thing where they just stopped building homes. So the builders all went bankrupt and they haven't come back and we ain't got enough homes. So not enough homes means it's not going to crash. We still haven't recovered. We don't have enough homes. The inventory is so low that we could have tons of homes come out on the market and we'd still be fine. If you tried to buy a home in the last 18 months, you know, it's been a mad bloodbath. Bidding war. Yeah. Back from 2012 to 2019, some of my local buyers did listen to me and they bought a home. Some of them didn't. And those people are still out there making videos every year about how the millennials are cheering for a crash every single year. So I started the podcast in 2019, and today I see the videos for people waiting and cheering for an economic crash. So those people were probably super stoked when they saw my last episode about the coming recession. You're going to hear all kinds of negative numbers, which, as a home buyer, might get you super excited. Now, if you listen to the show, you know what? All those headlines out there, the negative headlines, they're all geared for homeowners and home sellers. So bad headlines for them, that's usually good news for you. In the last episode, I explained that the recession headlines, well, they can be total bs. They're often fueled by political or even worse sales agendas. So it's tough to decipher what is truthful. And the ethical people do indeed see something coming down the road. So we can weed through the BS and hopefully just listen to them and realize that we're either in a recession or a recession's coming. Prepping for this recession and not just cheering for it, that's the topic of the day. So let's see where housing sits right now so you can prepare for what's going to happen to housing in this upcoming recession. Bear in mind, in the last four of the last six recessions, housing has gone up. Okay? So you're going to hear these negative headlines in 2022. I just saw one that said that home sales are expected to decline 7.44% this year and 9.7% in 2023. That's a dramatic adjustment from March when Fannie mae forecast a 4.1 decrease in home sales and a 2.7 decrease in 2023. Okay, did you listen? So what was the most important word in that headline? I have literally seen, literally used correctly, literally seen people on TikTok use this headline and give absolutely the wrong interpretation on it. And headline says that housing is going down and it's going to be a cheaper time to buy. So what was the most important word? My video producer. What was the most important word in that? No, not decrease, damn it. The guy's been sitting here for months. Sales. It's kind of. It's kind of a trick question. I'm jacking you up a little bit there. Sales. That's the thing that people do when they talk about a recession in real estate sales. Home sales are expected to decline by 7.4%. That has nothing, nothing to do with the price. But that's what you're going to hear on the news. It's only the number of homes sold. So they did think that it was going to be a 4.1 decrease in sales, the number of homes sold, but now they think it's going to be a 7.4 decrease in the number of home sales. That has nothing to do with the price of homes. So if you're waiting on the sidelines for the market to crash and you hear that headline and you get excited, make sure you understand where the data comes from. When you hear home sales, it has nothing to do with it. If you learn nothing from this podcast. Well, no, actually, you have to learn two things. One, learn how to use literally correctly and stop using it incorrectly. And two, that sales. When they talk about home market data, that's just the volume of homes sold and has nothing to do with prices. Another fun word that the economists and CNBC and all those people love to report on is the health of the housing market. And they figure out the health by looking at housing starts. That means the number of homes that are being built. Well, I got news for you. If you're trying to figure out if we built enough homes in the last 15 years, you don't need an economic guru. The answer is no. No, we did not. If you want more details on that, listen to pretty much every episode I've made for the last, oh, I don't know, three years. Anytime I talk about inventory, inventory's low has been gonna be still is. Check out this chart. Now, this chart shows housing start since 1960. Now keep in mind if you overlay the population chart on top of this chart, which goes up and down, population would be shooting from the bottom left to the top right, just like your charts for your rents. We went from 1998 to to 2008 where we averaged 1.7 million housing starts. And then from 2008 to today 2022, we only averaged about a million housing starts. Dude, let's do some math. 0.75 million times 14 years is a shortage of over 10 million homes being built. Can you say supply and demand? Oh, and since we're in a chart mood, remember my old chart, the one with showing that four out of the last six recession housing didn't go down? Take a look at that chart again. See that? Yeah. Hey, here's some news there. Inventory wasn't this absolutely shrunk up and low in any of those other recessions. And housing was still one of the main stabilizers and in fact didn't go down, but went up during those recessions. And then there's the subject of interest rates and how many mortgages are being purchased and forecast for this year and next year. As you can see on this graph. Boy, I'm getting chart happy this episode. This graph shows all mortgages over $4 trillion worth in 2020 and 2021. But only forecast $2.8 trillion worth of mortgages in 2022 and 2.4 trillion in 2023. Well, okay, that chart shows that we're totally decreasing, right? That means people are buying less homes and we've got a fatty recession happening. And all those millennial making their crashing videos, they're finally excited trashing, right? Nope. Take a look at the chart closely. It's got two different colors. And the light blue in the chart, those are refinances. Which means they're more than double the $4 trillion worth that we accounted for in 2020 and 2021. Look at the dark blue. That's the mortgages for home purchases. We're just looking at the dark blue. The actual purchases used for home mortgages. 1.573 trillion in 2020, 1.871 trillion in 2021. And we in 2022 were projected 1.927 trillion, and in 2023 projected 1.853. That's the actual data. How many homes are being purchased? I mean, seriously, look at that chart. Who the hell cares about the light blue chart? For refinances. Seriously, just the people who sell refinances. The rest of us don't care. People want to know how many people are buying homes. Sellers want to know am I going to have buyers? Buyers want to know am I going to have competition? That's what the dark blue on this chart is. The home purchases showing that it's actually going up. So for would be buyers being priced out of the market. The good news is the Fannie Mae economists expected home price appreciation to make a rapid plunge back into the single digits, moderating from a record 19.8% that we saw in the beginning of 2021 and into 2022, down to 6.5% in the first quarter of 2023, all the way down to 3.2% in the final months of next year. So what that looks like. Again, those of you on YouTube, take a look at this graph. The bottom of the slide that you see there, that's the end of 2023, it's still 3.2% appreciating market. If you're going down the slide, that's zero gains in the market. So you think you're at the bottom of the slide, but the bottom of the slide is not even flat. That's still home prices going up at 3.2%. It's just a lower appreciation than the craziness that we've had for all these years. The crash that you're waiting for, it's actually still below your feet, below the sand on the playground. But the slide is ends at the end of 2023 with home prices still going up at 3.2%. So at the end of 2023, you are still above the sand and you're still paying 3.2% for a home that you purchase at the end of 2023 than you would in the same price if you purchased that home in December of 2022. Now, of course, that's a prediction. It could be wrong, but that's what people are anticipating based on the supply and demand. A recession could change these numbers, right? Well, actually not quite as much as you think. See, first of all, the recession might not hit till the end of 2023. And if you're listening to this podcast, maybe you're in phase three of your home buying. You're sick of renting and you've been preparing and you're going to be ready to buy the home in the next six months or maybe three months. That's what the phase three years are. They're almost ready to Go. Well, these numbers are important message for you because your actual best play is to try and buy as soon as you can, you know, early as the spring of 2023. That way you still might be able to get some of that appreciation that's happening in 2023. That appreciation acts as a buffer for any dips that come in the market. This is preparing for a recession. If you can. You should be thinking about a purchase so you can work that buffer. Look, if you buy a home for 400,000, that's the close to the national average right now. You buy that home in 2022 or early 2023 and then during 2023, home values are going up just less than they have been. Okay, now that home is worth 450 and then in 2024 it drops back to 400. And then let's say things drop like crazy and you're down to 350 in the recession in the year 2025 now you're only down $50,000 because of that buffer. You could have been down a lot more than that if you'd waited 8, 12 or 16 months to buy. So if you're in your position, you might want to think about your best move against the recession is getting in as soon as you can to get that buffer. Not only do you get a buffer, but you're going to save three years of renting waiting for prices to come back down. It's $2,000 a month, right? That's $72,000 over three years. And it's only $2,000 a month if your landlord doesn't raise your rent. So that 72,000 could easily turn into 75 or $85,000 when they bump your rent up. If you listen to episode 98, you'll learn how to use this buffer to your advantage. Using my dumbass as an example, the guy who didn't buy a home at 21 years old when I totally could have back then. We were already in a full on recession in 1991. So with hindsight, what I do is I discuss in that episode how massively better it would have been for me to buy in the middle of that recession instead of renting. Yeah, buy in the middle of a recession. And today we're in a way better spot. We are actually potentially ahead of the recession. So you can buy and maybe catch a few years of appreciation and get yourself a buffer. So as I like to say, if you're close to buying today, it's time to get at it. I know maybe you've been thinking about this for a while and I'm sorry that your parents decided not to consummate the relationship and have sex and have you five or 10 years earlier. But you are the age you are today because that's when they decided to do it. And that means at this age, now it's time for you to take advantage of today, not five or 10 years earlier. Go yell at your mom and dad. You are where you are today. So let's take advantage of today to be ready for tomorrow. Look, no matter what's going on with the market and everything that's happening in housing, I'm going to constantly update you and let you know exactly where you are in the market at that time so you can take advantage. So today's advice, like the advice that I've been giving first timers since, oh, I don't know, 2012, jump in, take advantage. Now, people in the past had more to take advantage of. You've got something to take advantage of. But the bottom line is rents suck and they're gonna keep going up. So jump in, use the buffer. Because who knows, this might might change soon. And when it does, I'm gonna drop a new podcast then to make sure you can take advantage of what's going on in the future. As I mentioned in the last podcast, some of the pain coming with this recession has a purpose to it. It's a natural release, the pressure cooker of an economy. So instead of freaking out and putting your plans on hold, you should actually be doubling your planning. That's what the rich people do to stay rich, get ready to take advantage. They plan during the good times. They just don't hang out and party and rest on their piles of money. In fact, many of them cash out during the good times and sit on the piles of cash for a little while, for a long play. Then when the recession hits, they buy low. It's all simple, right? Buy low, sell high. One thing that you're going to see that's going to be a great result this coming recession is a return to better customer service. Now, you've heard the term low hanging fruit. Well, that kind of disappears when you're in a struggling economy. The latter for businesses to keep harvesting fruit. Fruit is quality customer service. Customer service should get better because when things tighten up, businesses need to do everything they can to get to come back and spend some money. Another thing that's going to be happening in recession, something you can do to help prepare is get back on your budget or hey, how about this? I Don't know, start a budget for the first time. The number one thing to do is go full richest man of Babylon. That's where you have to live 70, 10, 10, 10. I've said it before and I'll say it again. Read that book. It's like 70 pages, big font, super easy. Live on less. It sucks at first, but you eventually get used to it. 70% to live on, 10% to save, 10% to invest, and 10% to do to charity or whatever you want to do with that. One of the things I hear all the time is this generation is living with more anxiety than ever. Now there's nothing that defeats anxiety more than security. So if you have a job, you have the ability to create more security for yourself right now. Don't put your life on pause. I'm not saying to sacrifice everything. You don't have to live with fomo, but you can learn to find a better work life balance. If you go 70, 10, 10, 10, those extra tens, that's going to give you a less anxious life. It's going to be hard to figure out how to live on that 71st. But once you do, you're going to get more of the big O than you ever imagined. No, you dirty, sick minded people, not that big O. It's options. You know, at 49 years old, I quit my broker and started this podcast to help people. I want to start a revolution because I learned to live on that 70% myself so I could live my own best life. I realized the whole time it wasn't about having money in the bank to buy stuff or do things or invest. It just totally got rid of my stress. I had the option to live stress free and I had the option to leave my stress and anxiety behind me. And that actually gave me the option to follow a career path that was more aligned with my values. I could afford to dump the old stressed out life and get this new life with you guys. I'm not saying it's not stress free. I'm just saying I feel a lot better about it. Oh, did I mention? Please share this podcast so this life can be more stress free. No, actually share the podcast so I can help more people. But I digress. This is about you and you reducing your anxiety about the future and preparing for it. If you're listening to this, don't act surprised when the recession hits. Yet another reason you should share this podcast with people that you care about. Do you really want to see all your friends and family be all freaked out and unprepared? When the recession comes. No. Share the podcast. You know, if you don't and they do get hit by the recession, even worse, they're going to come ask to borrow money from you. So how do you live that stress free life, that anxiety free life, that 70, 10, 10, 10 life where you live on 70% and you're working the other 30% to make sure that you have a shelter? What you need to do is you need to automate. Automate, Automate, Automate. Listen to the seven part series on how to financially prepare to buy your home. That starts on episode 19. There's tons and tons of resources there to help you automate. Now we're going to get into something really controversial on how to prepare for a recession. I want you to build up your reserves and savings. I want you to do what Dave Ramsey says. What? No. Huh? Did I just say listen to Dave Ramsey? Yes. Yes I did. If you listen closely to my tirades before, you understand that I think that he sucks for giving advice on when and even how to buy your first home. But he is a great teacher on early financial practices and, oh, I don't know, kindergarten basic techniques. And then he's really great at helping people reduce their debt. Get back to basics. Start saving now. And when you have that low down payment of 3 to 5%, you might want to transfer that cash into a historically appreciating asset. That's the big one. There's no magic system to surviving the recession. I can't predict what the market's going to do. Nobody can. We analyze the data. We do our best to make sure that we use the history to give us an informed decision for what's going to happen in the future. All I know is that for most of you, your biggest monthly payment is your rent. And the sooner you turn that into a forced savings account, the bigger leverage you have against a slowing economy. Now, the tips of what to do during a recession. Three ways to win when there's inflation and a recession happening. One, save your funds before the crisis hits. Two, grow your education and grow your cash position. And three, invest for many of you. I know what you're thinking, well, how am I going to invest and buy a house? Well, this is the way it works for most of you guys out there. Your biggest and best investment is transforming your largest monthly output, that's your rent, into a forced savings account and a long term appreciating asset. So what you're doing is you're turning something you already spend that dead money into something that you are getting a giant return on. So that is essentially investing by simply transferring what you're already doing. For those of you thinking you're going to save money by waiting for a crash, I could go on and on like I have in previous episodes, about how the strategy is actually going to lose because we're still going to have rising interest rates and we're still going to have that slide. It's still a slide of appreciation. We're anticipating things are going to be going up. All of that math goes against your rising rents. You could do the exact opposite with by having a fixed locked in mortgage payment. Okay, so this we know. What about this? Inflation today is at 8.5%. It's not going to go away tomorrow. And if saving and waiting for a crash is your best way to beat the recession, well, here's the problem. Your savings today is worth less than it was last year. Say that you're ready to buy a home today and you're lucky enough to have $100,000 in the bank and you want to wait just one year just to see if housing prices drop. Just in case. Here's yet another mathematical fact that shows that waiting that option is mathematically a loser. Inflation is at 8.5% right now. Right. And they're having trouble curbing it. So let's say it stays there for another year. The average savings account is netting you a whopping what.1% right now? That's not helping. So you got $100,000 in the bank. You're still losing 8.4% because we're going to give you that 0.1% from the 8.5 that you get with your savings account. So you're still losing 8.4% of that cash. So the 100 grand that's been sitting in there while you're waiting for the price of the house to drop that money in the bank, which is basically essentially sitting on your mattress, except the mice are coming in and stealing 8,400 bucks. And now you're down to $91,600. And instead of $100,000, and that's just one year, one of the great examples I like to give is that you know that 100 bucks from the year 2000, 100 bucks from the year 2000 is only worth $61 today. That's an extreme example, but that's how it works. That's how inflationary times grow. So if you want to wait on the sidelines, cool. But you can't safety your way to wealth. Remember, cash it will depreciate with inflation. A home appreciates that hundred bucks is totally different than a hundred dollars that you put in a house which shows a 3 to 4% appreciation over the last hundreds of years. Go look up what your parents house was worth in 2000. It'll feel a lot better than that hundred buck analogy I just gave you. Look, the way it works is you can't safety your way to wealth waiting for the great deal while you're holding on to your money. Because we're living in an inflationary economy and unless that deal pops up tomorrow, as we've already discussed, that's probably not going to happen. And especially while you're paying wasted rent every month after month, you're just waiting for that deal and your money, it's getting sucked away. So just having cash is not working. While inflation is part of the equation, your first step to adulting, it's real estate. The cash in your wallet, your bank, a safety deposit box or under your mattress is worth less and less every year. The safe investment of holding cash is an old man's philosophy. Now it's not safe at all. It's actually losing money. I'm not trying to like tell you, hey, come on, don't hold cash, get crypto. You know, I'm not trying to tell you to do that or NFTs or anything else that I don't know anything about, but probably is, you know, potentially a smart move for some people, but definitely not for me. And I'm not going to tell you about it. I'm simply trying to tell you that you are already paying out your largest payment through rent and you get zero for that. So it's time to transform that payment into an asset that will gain you for sure if you've got a long term 7 to 10 year plan and a much bigger gain if you've got a super long 15 to 30 year plan. History confirms it. Stop, stop, stop thinking waiting is playing it safe and you're going to make more money that way. There's playing it too safe and playing it just normal safe. I'm not trying to get you to do something crazy. I'm just trying to do normal. Here's a great example. Look up Warren Buffett on YouTube who discussed safe investing. He took a safe investment when people were like being extra cautious and extra, you know, make sure you got to do this and you just let it sit long term and you'll make tons of money. Okay, that's a too safe investment. And then he compared that to A normal Safe investment in $10,000 he invested into an index fund. And they did said, okay, what would happen if I put $10,000 in an index fund back in 1940? If you did that, it'd be worth 51 million today. Back then in 1940, everyone was saying the safe play was gold. The same investment of $10,000 that would have been 300 ounces of gold would have been $400,000. Today. An index fund is still considered normal safe. 10 grand, 51 million. But the regular safe thing sitting on your money, putting it under your mattress, $10,000 of gold is only worth $400,000 today. So an index fund is not a crazy speculative investment and that's worth $51 million. Buying a home is not a crazy speculative investment either. And the difference between investing in gold or an index fund investing in a home is something you're already spending every single month with a rent check that you could transform into that index fund, normal safe investment because you're already paying it. So during a recession, what should you do to prepare for a recession? Get ready to invest in your future. Save money now while we plan for a recession. Remember, a home's big secret is a home is a forced savings account. Rent is a necessity, paid due to lack of knowledge and then lack of planning. Remember all the to do's in the recession so you can work your money like the rich dudes do, save, grow and invest. And if you're thinking you can't invest in this recession when you have spent all your money buying a home before it starts, well, that's the idea that was your investing. You bought a house, great job, your home is your big investment. You're beating inflation and not being a slave to rising rents by not putting your cash into a rent that reaps you no rewards. But moving your largely monthly output into a basic need can also be a huge investment into your future. Oh my God. I've said that 97 times in this podcast. That's because the best thing to do to prepare for a recession is to prepare to either take advantage before, in the middle or towards the end. Because whenever you can take advantage during the recession, it's going to be the right time to stop renting. Here's a bummer thought from an investment podcast I was listening to. Investors are actually salivating at this coming recession because they know that's when they're going to get rich. This is a fact. They are super excited about the world actually getting in a worse economic position. Buy low, sell high and Recession is, you know, getting in low and they've been hoarding cash waiting for this time. But you know what investment they're talking about? Do you want to know what they're calling a recession proof investment? Apartment rentals. Yeah, they're recession proof investments so they can double their money as apartment rentals. You know why? Because rents are skyrocketing and demand for units is out of control and renters are fighting for units. And this podcast said you should buy apartments right now because the minute a tenant leaves, you can jack the price up 15% and you're going to have multiple applications. That's what people are saying on podcasts when they're talking to wealthy people on how to make money. If you're freaking out about where you got need to live and you realize your position in life, there's time for another painful truth bomb. Because I've been seeing a lot of people talk about this a lot. Housing is not a right. I'm not saying that philosophically. I'm saying that's the way it is right now. Housing is not being treated like a right in the current system. Not giving you opinion. I'm just reporting what's happening in the current system and what the average American considers suitable housing. It's not a protected right in our current legal structure and it hasn't been for years. The government barely regulates rents and the right to an affordable place to live. Now do you think that sucks? Do you think that's wrong? Well, me too. But here's the deal. It's not going to change. Money rules the world. How much was it for you to fill up your gas tank? The oil companies line the pockets of the people that change the laws to make it more fair and more equitable for them. Lobbyists and money rule what laws get passed and that's the straight up way it works. I wish it didn't, but that's what's happening. Let's understand that it's currently not a right. So we have to work the system and we have to play the hand that we are dealt. I wish it was different, but you know, life, liberty and pursuit of happiness. I'm totally down with Pursuit of Happiness. The original author, before we actually took it and got working with it was life, liberty and property. But this is not where we're at today. So pursue your happiness. And how do we pursue your happiness? Well, we got to figure out what to do to get through this recession. In the list of the billionaires who make their money in this land of life, liberty and pursuit of happiness. Third on their list, the things they use to make their money is real estate. And most of these billionaires on that list, their main job, it's not real estate. But the third thing they use on their list to make money is real estate. They have tons of real estate investments in their portfolios. So now they pay the politicians to make sure that they can run all their real estate business in a hands off capitalist system, just like the oil industry. So there's no regulation, so you want to get even more depressed. Currently we have 1124 more billionaires than there were five years ago. That's a 50% increase. A report noted that as the world pushes towards its fifth industrial revolution, spurred on by biotech advances in COVID 19, health care has actually become the second most important source of wealth for the billionaires after financial services. And what's interesting is five years ago, health care was not even a top source of wealth. So the first thing to do is get back to the fundamentals. You got to know what works. All right? In order to get in the fight, you got to put on the gloves with me, one of your biggest gloves. Automation automate your savings. Live 70101010 so who's a big bummer? This guy. I know, I know. I understand where you're coming from. Life is a balance and I don't advocate anyone following one specific set of rules, all right? Especially if they don't fit your lifestyle. As a 52 year old dad today with a family and a former FOMO bohemian lifestyle, I spent money in my twenties, I mean money. And I had tons of experiences. I could tell you I could have had my cake and ate it too. I could have had a lot of those experiences and still been a lot more stable in my 30s. That's what I'm here to tell you. Convert your rent, you already pay for it. That's your cake. And eat it. Makes sense. I'm not saying live on 70% of your income forever though truthfully, I think that could be a really good idea for you. But whatever, you can just do it until you figure out how to get enough your down payment and stop paying your rent. I could have easily bought a home and paid the same in rent and had that lovely incredible for savings account and it would have been working for me. Instead of me dumping my money into my landlord's pocket, it simply would have cost me the down payment. And maybe getting to the down payment would have cost me a couple of trips in my 20s, which meant I still would have had plenty of experiences because I was taking like four fatty trips a year. Warren Buffett said it best do not save what is left after spending, but spend what you have after saving. That's all the information you need to know about a recession, as well as what you can do to prepare for a recession. Planning is really not rocket science. You know I'm just an old dude drink and you know I'm telling you that in my 40s and 50s I figured out this huge trick that nobody explained to all the renters out there because it didn't make sense for someone to spend time explaining because they couldn't figure out a way to get rich doing it. Please take this at heart, I am not selling a workshop or a seminar. I As I said, I'm just an old man drink who desperately sees we can start to bridge this wealth gap by educating renters to help them not be trapped by those landlords who are out there gouging you at these ridiculous rates. That's a part of the wealth gap that people aren't even talking about. You have the power and the control to change your destiny and perhaps the economic destiny of the stupid gap that's killing the middle class and the working man as well. So Share this info Please text this podcast to a friend who you want lifted up to and then I'm going to come back and keep yelling on this mic like a crotchety old boomer who only wants you to see the potential that you've got to help you avoid all the pitfalls no one's out there helping you to avoid. You can do this. This.