WEBVTT 1 00:00:01.360 --> 00:00:04.759 Enjoy this full episode of Day Zero. You can get 2 00:00:04.799 --> 00:00:08.640 access to every episode on our website and all podcast 3 00:00:08.759 --> 00:00:12.560 platforms here. Welcome y'all back another episode of Day zero. 4 00:00:12.720 --> 00:00:15.759 It is day two forty three. We've got three of 5 00:00:15.759 --> 00:00:19.879 the four, three of the core four, the Immaculate one, 6 00:00:20.079 --> 00:00:24.120 the Spiritual one, d one, the Powerful one is out today. 7 00:00:24.960 --> 00:00:30.719 But guys, you know, this week has been a week 8 00:00:30.800 --> 00:00:37.359 of remembrance, a week of going back, a week of 9 00:00:37.719 --> 00:00:40.600 yeah yeah, a week of people saying that I told 10 00:00:40.640 --> 00:00:44.159 you so. Because of course this week they brought Fauci 11 00:00:44.240 --> 00:00:48.679 back in and they were grilling Fauci. Of course he 12 00:00:48.719 --> 00:00:51.799 was pleading the fifth one hundred and eleven times. 13 00:00:54.159 --> 00:01:02.000 Yeah, he was like, it's like the entire time was 14 00:01:02.520 --> 00:01:06.640 that fucking Chappelle skit and I and I just thought, 15 00:01:07.239 --> 00:01:10.040 we're at the end of we're at the we've come 16 00:01:10.079 --> 00:01:12.799 to a complete full loop where like all of the 17 00:01:12.879 --> 00:01:17.280 ship that Dave Chappelle was doing his spoof comedy skits 18 00:01:17.680 --> 00:01:19.079 has now become reality. 19 00:01:19.439 --> 00:01:22.560 Yeah, it's real, it's real life. 20 00:01:22.719 --> 00:01:26.239 One hundred and eleven times he invoked the fifth, which 21 00:01:26.280 --> 00:01:29.000 doesn't even apply to him because he was pardoned. 22 00:01:31.120 --> 00:01:36.040 Well they well, somebody was saying that he could get 23 00:01:36.799 --> 00:01:41.680 was he if he lied about stuff now while he 24 00:01:41.799 --> 00:01:43.959 was up there, then he'd be a current lie as 25 00:01:43.959 --> 00:01:48.400 opposed to a old lie, and maybe they could go start, yeah, 26 00:01:48.519 --> 00:01:52.719 restart the process. So you know, his counselor of course, said, hey, 27 00:01:52.760 --> 00:01:56.560 will you get up there, don't say anything that's not 28 00:01:56.640 --> 00:01:59.200 incriminating at all, isn't listen? 29 00:02:00.920 --> 00:02:06.840 Pretty quick from trust the science to plead the fifth Yah, yeah, 30 00:02:06.840 --> 00:02:10.520 extremely quickly, extremely quickly. I am. 31 00:02:10.960 --> 00:02:13.719 Look, I haven't I haven't put this out yet. I 32 00:02:13.759 --> 00:02:15.599 got I got a little small video I'm putting out, 33 00:02:15.639 --> 00:02:18.360 but I just go ahead and share it with everybody 34 00:02:18.360 --> 00:02:19.000 in the audience. 35 00:02:20.080 --> 00:02:20.479 Looks. 36 00:02:20.639 --> 00:02:24.400 As much as I would like to take a victory lap, 37 00:02:26.080 --> 00:02:32.479 you know, saying that I told you so, I have 38 00:02:32.639 --> 00:02:38.360 no solace in this, okay, because we lost straight the 39 00:02:38.400 --> 00:02:43.120 fuck up. We took a l. You got twenty years 40 00:02:43.159 --> 00:02:45.919 worth of inflation in a year and a half. That's 41 00:02:45.960 --> 00:02:50.280 the L and there and there's no coming back, Like, 42 00:02:50.360 --> 00:02:53.680 we can't put it back in the box. So as 43 00:02:53.719 --> 00:02:55.360 much as I see people up there like, oh, I 44 00:02:55.439 --> 00:02:58.919 told you say this, and it's like it doesn't matter. 45 00:02:58.960 --> 00:03:01.479 We're all still here and we're fucked. You know what, 46 00:03:01.560 --> 00:03:04.159 I'm saying as far as far as that goes, as 47 00:03:04.159 --> 00:03:08.879 far as your money meaning anything you being able to 48 00:03:08.919 --> 00:03:12.479 potentially own property and stuff in the future. If you 49 00:03:12.479 --> 00:03:15.240 don't have it nail and you don't have some type 50 00:03:15.240 --> 00:03:20.039 of gig that's paying extremely well, it's gonna be difficult. 51 00:03:20.960 --> 00:03:24.599 It felt like twenty twenty, you know, like in those 52 00:03:24.759 --> 00:03:27.879 movies where there's an earthquake and then like the ground 53 00:03:27.919 --> 00:03:30.719 opens up and there's like a big gap between the place. 54 00:03:31.159 --> 00:03:33.800 It felt like twenty twenty created like a big gap, 55 00:03:34.319 --> 00:03:37.240 and it's like you had to hurry up and jump 56 00:03:37.280 --> 00:03:41.159 over to that other side and be a homeowner or 57 00:03:44.560 --> 00:03:48.319 the American dream whatever that end quotes, whatever that means 58 00:03:48.360 --> 00:03:51.840 to you, Like you needed to jump on because after that, 59 00:03:52.439 --> 00:03:57.000 everything drifted away so fast that you were either you 60 00:03:57.039 --> 00:03:59.479 were either in or or out. After that, it felt 61 00:03:59.520 --> 00:04:03.400 like when it comes to home ownership, especially because a 62 00:04:03.479 --> 00:04:07.080 couple of things happened where prices have gone up like 63 00:04:07.199 --> 00:04:10.240 crazy in the last six years, but also now interest 64 00:04:10.319 --> 00:04:13.520 rates have as well, so it's one thing it's like, 65 00:04:13.560 --> 00:04:16.120 ah shit, you know, I wish I'd bought earlier because 66 00:04:16.480 --> 00:04:18.600 now I can't afford the house because it went from 67 00:04:19.319 --> 00:04:22.120 three hundred and fifty thousand to seven hundred thousand. It's like, 68 00:04:22.759 --> 00:04:25.399 even if it had stayed at three hundred and fifty thousand, 69 00:04:25.800 --> 00:04:28.399 you probably couldn't afford that house now anyway, because the 70 00:04:28.439 --> 00:04:33.680 interest rate is tripled. So so you you double the 71 00:04:33.680 --> 00:04:35.600 price of the house and triple the price of the 72 00:04:35.639 --> 00:04:38.600 interest rate at the same time. Good luck. Yeah, I 73 00:04:38.600 --> 00:04:42.319 mean you unless you have cash and a lot of it, 74 00:04:42.720 --> 00:04:44.800 you're kind of you're kind of cooked, and like everybody's 75 00:04:44.839 --> 00:04:46.879 sort of waiting like, oh, well, you know, I mean, 76 00:04:47.720 --> 00:04:51.600 we'll have like a big collapse in real estate prices. 77 00:04:51.680 --> 00:04:53.959 I don't know. I don't know. I don't know if 78 00:04:54.000 --> 00:04:56.360 there I think there's a I think there's an artificial 79 00:04:56.399 --> 00:04:58.639 floor with private equity that wants to come in and 80 00:04:59.120 --> 00:05:01.399 buy up all these things, family homes, and I don't think. 81 00:05:01.480 --> 00:05:03.879 I think maybe it'll drop twenty percent, But if you 82 00:05:03.920 --> 00:05:06.560 want a big fifty percent drop like you got in 83 00:05:06.560 --> 00:05:09.360 two thousand and nine and ten in all those years, 84 00:05:09.600 --> 00:05:11.279 I don't know. I don't know if that's in the 85 00:05:11.279 --> 00:05:16.800 cards anymore. I think it might just be like it's 86 00:05:16.839 --> 00:05:20.040 an asset, and you got to have assets right now. 87 00:05:20.079 --> 00:05:24.040 If you don't have assets, you're fucked, and the ship 88 00:05:24.120 --> 00:05:28.079 is leaving the dock, and if you're not on it 89 00:05:28.240 --> 00:05:33.759 with some assets, the system is going to destroy you. Well, 90 00:05:33.759 --> 00:05:35.439 the system is going to fall apart at some point 91 00:05:35.480 --> 00:05:35.959 here anyway. 92 00:05:36.079 --> 00:05:40.120 So yeah, well, I don't think people don't understand when 93 00:05:40.120 --> 00:05:43.680 people are like, oh, man, you know the house mark crash. 94 00:05:43.759 --> 00:05:49.800 I'm like, dude, if if the housing market crashes to 95 00:05:49.839 --> 00:05:53.000 that hate good neither it's gonna be It's gonna be 96 00:05:53.000 --> 00:05:59.120 an absolute fucking wipeout, dude, Like, because the problem is 97 00:05:59.120 --> 00:06:01.959 is that people think they're. 98 00:06:03.959 --> 00:06:04.199 Core. 99 00:06:05.879 --> 00:06:09.720 What am I looking for here? There net worth in 100 00:06:09.759 --> 00:06:11.360 their house. A whole lot of people say net worth, 101 00:06:11.360 --> 00:06:14.279 Oh what's your net worth? Oh well I got eight 102 00:06:14.319 --> 00:06:16.920 hundred thousand dollars net worth. It's like, huh damn, you 103 00:06:16.920 --> 00:06:19.920 got eight hundred thousand dollars cash. Oh no, no, I've 104 00:06:19.920 --> 00:06:22.519 got a six hundred and fifty thousand dollars house and 105 00:06:22.560 --> 00:06:24.199 I got you. You see what I'm saying. So it's 106 00:06:24.199 --> 00:06:27.680 just like, right, well the dog. I mean, if you 107 00:06:27.720 --> 00:06:30.439 don't sell the house, that like you don't have it. 108 00:06:30.480 --> 00:06:34.120 But that's okay, all right, because for some reason somebody's 109 00:06:34.120 --> 00:06:36.360 got in their mind, oh I got it, I can 110 00:06:36.399 --> 00:06:38.600 take equity out of house and lot, I'm like, uh, 111 00:06:39.199 --> 00:06:42.560 you know, they don't want that money back, right, Like 112 00:06:43.600 --> 00:06:46.240 they're just not gonna give you the money and just 113 00:06:46.279 --> 00:06:48.920 be like, Okay, good, there you go. That's your money. 114 00:06:48.600 --> 00:06:51.519 Like that's I hear people say that like, and I 115 00:06:51.560 --> 00:06:55.040 don't think they really understand what they're saying. If you 116 00:06:55.079 --> 00:06:57.560 take that equity and you're flipping, understand and buying more 117 00:06:57.600 --> 00:07:01.000 properties than okay, so you're trying he's trying to. 118 00:07:02.399 --> 00:07:04.439 If you're taking equity out of your house and you're 119 00:07:04.439 --> 00:07:08.560 buying fur coats and bottle service at the club, then 120 00:07:08.600 --> 00:07:10.959 you're doing it wrong. If you're taking equity out of 121 00:07:10.959 --> 00:07:14.160 your house and using it to buy in a small 122 00:07:14.519 --> 00:07:18.199 apartment complex or something, or a business, and you're like, 123 00:07:18.600 --> 00:07:23.720 then that's that's leverage, and in fact, when done correctly, 124 00:07:23.839 --> 00:07:26.560 that's that's a great way to do it. I remember 125 00:07:26.600 --> 00:07:29.920 meeting with this guy back when I was doing commercial 126 00:07:29.959 --> 00:07:32.600 real estate, and this guy owned a million square feet 127 00:07:32.959 --> 00:07:38.920 of commercial real estate in Long Beach, Carson, Compton and 128 00:07:39.120 --> 00:07:41.160 at fifty dollars a square foot, so he had about 129 00:07:41.920 --> 00:07:46.279 fifty million dollars worth of industrial real estate. He looked 130 00:07:46.639 --> 00:07:50.600 like a mechanic, you know, like overalls fucked grease all 131 00:07:50.639 --> 00:07:53.639 over him, you know, just he You would never in 132 00:07:53.680 --> 00:07:56.279 a million years would you have guessed. And I asked him, 133 00:07:56.319 --> 00:07:58.480 how'd you get all the how'd you buy a million 134 00:07:58.519 --> 00:08:01.160 square feet? And he said what he did was his 135 00:08:01.199 --> 00:08:06.040 first building he bought, and after like a year or two, 136 00:08:06.600 --> 00:08:10.279 he had show shown pretty good payments history, and he 137 00:08:10.319 --> 00:08:13.600 had a tenant that was paying him on time. He 138 00:08:13.680 --> 00:08:15.920 went to the bank and showed them that, and then 139 00:08:16.000 --> 00:08:20.319 borrowed against his first building and used that to buy 140 00:08:20.360 --> 00:08:22.800 a second building. And then with the second building, he 141 00:08:22.839 --> 00:08:24.959 got a tenant in there who did a good job, 142 00:08:25.560 --> 00:08:28.680 and he showed history of paying on that for two years. 143 00:08:28.680 --> 00:08:31.120 He used that to leverage it, borrow against it by 144 00:08:31.120 --> 00:08:33.360 a third, and then a fourth, and then a fifth. 145 00:08:33.799 --> 00:08:37.600 And then as this goes on over the years, the 146 00:08:37.639 --> 00:08:42.399 buildings start to kind of pay themselves. You know, if 147 00:08:42.440 --> 00:08:45.080 you do it for twenty years, there's like becomes this 148 00:08:45.240 --> 00:08:49.919 string of buildings that wind up paying themselves off over 149 00:08:49.919 --> 00:08:52.600 the years. And this dude just wound up with a 150 00:08:52.720 --> 00:08:55.519 ton of buildings. But that's how he did it. He said, 151 00:08:55.519 --> 00:08:59.960 as soon as I got a mortgage on it, I leveraged, 152 00:09:00.080 --> 00:09:03.279 borrowed against it and bought another thing and just just 153 00:09:03.519 --> 00:09:06.360 use used it, tie up properties, and then of course 154 00:09:06.639 --> 00:09:11.320 it's it's gone. The market's going up, which helps. But 155 00:09:11.360 --> 00:09:14.080 even if the market isn't going up, he's got somebody 156 00:09:14.080 --> 00:09:17.360 in there paying the mortgage on it. He's fretting and 157 00:09:17.399 --> 00:09:19.360 clear even if he's not making a profit. So anyway, 158 00:09:19.399 --> 00:09:21.799 I watch these guys make a fucking shitload of money 159 00:09:21.799 --> 00:09:25.120 by leveraging that way. If and you talk to the 160 00:09:25.159 --> 00:09:28.240 average person about their house or their home, or they 161 00:09:28.240 --> 00:09:31.200 have the they have this belief that like, oh, you 162 00:09:31.200 --> 00:09:33.320 know what I'll do is I'll just wait for the 163 00:09:33.360 --> 00:09:36.720 big crash. The crash will come. It'll it'll take like 164 00:09:36.759 --> 00:09:39.679 you said, you know, take all the home prices down 165 00:09:39.759 --> 00:09:44.679 to twenty eighteen price levels, and then what and then 166 00:09:44.679 --> 00:09:46.519 I'll come in and I'll buy a house. No, you're not. 167 00:09:46.679 --> 00:09:47.960 You're still not going to be able to buy a 168 00:09:47.960 --> 00:09:50.679 house again, because the interest rate is three times what 169 00:09:50.759 --> 00:09:54.000 it was before. The payment that you think you're making 170 00:09:54.120 --> 00:09:58.320 is not the twenty eighteen payment. That's that's a that's 171 00:09:58.360 --> 00:10:01.399 a that's a twenty eighteen price for a twenty eighteen 172 00:10:01.480 --> 00:10:05.519 interest rate, which was two and a half percent, it's 173 00:10:05.639 --> 00:10:10.840 six in three quarters. You know, it's not the same 174 00:10:10.919 --> 00:10:15.399 game anymore. So, like, even if the real estate market crashes, 175 00:10:17.039 --> 00:10:19.000 people aren't going to be piling in like they think 176 00:10:19.000 --> 00:10:20.960 there if they have cash, that's a different story. But 177 00:10:21.000 --> 00:10:23.879 if you're getting, if you're borrowing, and you're like, oh yeah, 178 00:10:23.879 --> 00:10:27.039 then it'll all be able to make the interro all right, 179 00:10:27.039 --> 00:10:30.840 Well maybe maybe maybe you will, but don't forget that 180 00:10:30.919 --> 00:10:33.879 everything is predicated on that interest rate and it has 181 00:10:33.919 --> 00:10:36.360 been going up consistently. It's the one thing that Trump 182 00:10:36.399 --> 00:10:40.480 needs to go down for his presidency to be considered 183 00:10:40.799 --> 00:10:43.840 a victory for him, and it's just been going up 184 00:10:43.879 --> 00:10:47.000 the whole time. He just sucks at his job in 185 00:10:47.120 --> 00:10:49.679 every single way in which you can suck being the president. 186 00:10:49.759 --> 00:10:56.679 I mean, he really it's funny, except that we all 187 00:10:56.799 --> 00:10:57.879 have to deal with it. 188 00:10:59.120 --> 00:11:02.799 He wants something tournament today or something or recently. I guess, 189 00:11:03.120 --> 00:11:06.360 and he's eighty, I guess, And so he won this 190 00:11:06.519 --> 00:11:08.480 tournament and people are like, wow, you're eighty and you 191 00:11:08.519 --> 00:11:11.000 won this. You don't even have time to practice. Instead, 192 00:11:11.000 --> 00:11:12.960 it's talent something I have they don't have. 193 00:11:14.759 --> 00:11:16.440 Trump. It's such a fucking awesome. 194 00:11:16.720 --> 00:11:18.480 But that's what that's what, that's that's what. That's what 195 00:11:18.519 --> 00:11:20.519 we'd like to hear. That's what we'd like to hear. Yeah, 196 00:11:20.559 --> 00:11:22.799 but a but if you think people are stuck in 197 00:11:22.840 --> 00:11:26.039 their houses, now just let let their house drop two 198 00:11:26.120 --> 00:11:30.159 hundred thousand dollars in value, well forgot, they damn sure 199 00:11:30.159 --> 00:11:36.360 ain't going nowhere. Yeah, like because now you now you've 200 00:11:36.360 --> 00:11:39.320 got to add that on to your next house. Like 201 00:11:39.360 --> 00:11:41.200 I see people do this with cars all the time, 202 00:11:42.480 --> 00:11:44.639 Like that's how to get yourself in trouble. With cars. 203 00:11:45.480 --> 00:11:49.120 They'll go in, they'll start trading vehicles in and when 204 00:11:49.159 --> 00:11:53.159 they trade a me in, they can't get enough money 205 00:11:53.200 --> 00:11:55.840 to cover what's left on the loan, and so it 206 00:11:55.960 --> 00:12:00.440 gets float over into the next car. And so they 207 00:12:00.440 --> 00:12:00.840 don't do. 208 00:12:00.799 --> 00:12:04.320 That in houses. That's called don't let okay, okay, just 209 00:12:04.360 --> 00:12:06.759 let okay, you go straight into foreclosure. They don't let 210 00:12:06.840 --> 00:12:08.039 you roll it into the next house. 211 00:12:08.120 --> 00:12:11.360 They just take that back okay okay, So they just 212 00:12:12.000 --> 00:12:15.120 so there we go, So there we go. So they 213 00:12:15.159 --> 00:12:16.840 won't let you get in trouble. You say, don't let 214 00:12:16.879 --> 00:12:17.759 you get in trouble with a call. 215 00:12:18.279 --> 00:12:21.039 The cars will let you roll that negative negative equity 216 00:12:21.080 --> 00:12:25.360 over into another car because and laugh at you as 217 00:12:25.360 --> 00:12:29.039 you drive off the lot, of course, but with the houses, 218 00:12:29.159 --> 00:12:34.279 they just go, no, here's the here's the trick. We 219 00:12:34.440 --> 00:12:38.240 loaned you fake money to buy this house. We typed 220 00:12:38.240 --> 00:12:42.120 in numbers into the computer, which expanded the money supply 221 00:12:43.200 --> 00:12:45.840 by us doing that for you to buy a tangible 222 00:12:45.919 --> 00:12:48.039 real estate at piece of real estate, and then you 223 00:12:48.159 --> 00:12:51.559 defaulted on it, and then we got a house. We 224 00:12:51.720 --> 00:12:54.440 the bank got a house for doing nothing. So they 225 00:12:54.480 --> 00:12:59.639 own the house now and you don't. And uh so 226 00:12:59.720 --> 00:13:02.799 you you definitely don't want to fall by if you 227 00:13:02.879 --> 00:13:05.639 bought something within the last three years and it drops, 228 00:13:05.759 --> 00:13:09.200 like you said, if it goes down two hundred thousand, 229 00:13:09.240 --> 00:13:11.759 yeah you can't. You can short sell it. You can 230 00:13:11.759 --> 00:13:14.720 maybe get the bank to agree to write it off, 231 00:13:15.200 --> 00:13:18.519 but and do a short sale, which which is doable, 232 00:13:18.600 --> 00:13:20.559 and it tanks your credit for a couple of years. 233 00:13:20.600 --> 00:13:25.519 But and I did that on my big house that 234 00:13:25.600 --> 00:13:29.120 I got on the wrong end of short sold it 235 00:13:29.159 --> 00:13:33.960 to a guy for half the price. Fucking help. You 236 00:13:34.039 --> 00:13:37.679 got a million dollar house for five thousand. 237 00:13:39.679 --> 00:13:41.759 Someone here in Colorado Springs which is saying they're trying 238 00:13:41.759 --> 00:13:45.879 to sell their two bedroom condo. The HOA is four 239 00:13:46.000 --> 00:13:49.000 hundred something a month, four hundred dollars a month, and 240 00:13:49.039 --> 00:13:52.120 that includes all utilities, which is not normal for each 241 00:13:52.320 --> 00:13:57.360 way in my experience at least, So all your utilities, garbage, water, gas, electricity, 242 00:13:57.399 --> 00:14:00.200 everything's included in that. It's already seems like that's the 243 00:14:00.200 --> 00:14:03.000 price you pay per month for all those services. So 244 00:14:03.039 --> 00:14:05.480 it seems like a really decent ha compared to most, 245 00:14:05.519 --> 00:14:07.720 which you're fucking retarded. They're like eight hundred dollars and 246 00:14:07.759 --> 00:14:10.080 all you get is like a pool that is sometimes 247 00:14:10.120 --> 00:14:14.919 open and painted, you know, exterior now and then I 248 00:14:14.960 --> 00:14:17.639 don't know what this money's going towards. But they're selling 249 00:14:17.679 --> 00:14:21.440 this condo again, two bedroom. We're a pretty decent size, 250 00:14:21.559 --> 00:14:26.080 one hundred and forty thousand, and nobody's buying. I was like, well, 251 00:14:26.120 --> 00:14:29.159 that's but that's crazy because it's like way lower than 252 00:14:29.159 --> 00:14:33.559 what the market's been for a long time, and everybody's 253 00:14:33.559 --> 00:14:35.879 talking about there's nothing affordable and nobody can buy anything. 254 00:14:35.919 --> 00:14:37.720 And but here she is with this sitting on it 255 00:14:37.759 --> 00:14:38.799 and it's not moving. 256 00:14:41.120 --> 00:14:45.919 There could be some reasons for that. Is it a 257 00:14:45.960 --> 00:14:53.120 condo in a condo boo? Yeah, Sometimes you never know 258 00:14:53.159 --> 00:14:59.120 the case, but sometimes in Palm Springs in particular, which 259 00:14:59.120 --> 00:15:02.559 is where I grew up, because the ownership of the 260 00:15:02.639 --> 00:15:06.559 land is checkerboard with the Indians. The Indians own every 261 00:15:06.600 --> 00:15:09.960 other square mile or square acre, no square mile. 262 00:15:09.960 --> 00:15:10.440 I think. 263 00:15:14.320 --> 00:15:20.480 Some buildings are land leases and some buildings are fee 264 00:15:20.519 --> 00:15:27.360 simple straight up ownership. If you're looking at if you're 265 00:15:27.399 --> 00:15:30.240 going down one street and you're looking for condo buildings 266 00:15:30.279 --> 00:15:31.799 and Palm Springs and you go to one and it's 267 00:15:31.840 --> 00:15:33.519 three hundred thousand, and you go to the next one 268 00:15:33.559 --> 00:15:35.639 and it's two hundred thousand, and you go, what the 269 00:15:35.639 --> 00:15:40.360 fuck is the difference? Yeah, it's that land lease component. 270 00:15:40.519 --> 00:15:42.120 Yeah, that was in Washington. 271 00:15:41.720 --> 00:15:45.120 Too, because there's a lot of Yeah, because there's a 272 00:15:45.159 --> 00:15:47.440 lot of tribal land in Washington. So I find places 273 00:15:47.440 --> 00:15:49.960 and be like, holy shit, this one's so cheap, Like, oh, 274 00:15:50.000 --> 00:15:52.159 you don't own the land. And if they ever decide 275 00:15:52.200 --> 00:15:55.159 to which doesn't happen, but it could they ever decided 276 00:15:55.159 --> 00:15:56.679 to take the land back, they're like, yeah, get your 277 00:15:56.720 --> 00:15:59.080 fucking house out here. Now you're just in my house 278 00:15:59.080 --> 00:15:59.840 and no where to put it. 279 00:16:00.799 --> 00:16:00.919 You know. 280 00:16:01.000 --> 00:16:03.639 Again, it doesn't really happen that much, but it's weird. 281 00:16:03.679 --> 00:16:05.960 For me to think about investing all your money and 282 00:16:06.000 --> 00:16:08.080 time into a property that you don't actually own it. 283 00:16:08.360 --> 00:16:10.440 Outside of the fact that none of us owns anything 284 00:16:10.519 --> 00:16:13.960 eminent domain and you know property taxes and all of that, 285 00:16:15.240 --> 00:16:18.120 you know you can't own that. Then again, I don't 286 00:16:18.200 --> 00:16:21.399 know because I've never met a homeowner, Like I've only 287 00:16:21.440 --> 00:16:23.960 ever met people with mortgages. I've never met anyone who's 288 00:16:23.960 --> 00:16:26.120 actually paid off their property, or if I have, I 289 00:16:26.120 --> 00:16:27.080 can't think of them at the moment. 290 00:16:27.120 --> 00:16:27.840 They're so rare. 291 00:16:28.600 --> 00:16:31.879 So I can say, oh, I've been a homeowner three times, 292 00:16:31.879 --> 00:16:34.679 but realistically, I've never owned anything. I've just paid mortgages 293 00:16:34.679 --> 00:16:35.120 on things. 294 00:16:35.480 --> 00:16:38.879 So check this out. I've got a new sponsor, and 295 00:16:39.200 --> 00:16:43.000 I got hooked up with the new meaning like February, 296 00:16:43.039 --> 00:16:46.480 so six months ago. I got hooked up with him 297 00:16:46.759 --> 00:16:50.720 through a guy who I call Texas Larry. He was 298 00:16:50.759 --> 00:16:55.159 my legal shield hookup from Tony Rdiburn. Great guy, been 299 00:16:55.200 --> 00:16:57.120 in the business for a long time, and he reached 300 00:16:57.159 --> 00:16:58.559 out to me one day and he's like, I have 301 00:16:58.600 --> 00:17:00.519 something that you need to hear about. It's going to 302 00:17:00.559 --> 00:17:03.279 blow your mind, especially given that you have spent thirty 303 00:17:03.360 --> 00:17:05.279 years in real estate. Year really and how much you 304 00:17:05.319 --> 00:17:09.039 hate the banks, you're gonna love this. And it's called 305 00:17:09.440 --> 00:17:14.640 replace your Mortgage. And so he sent me the video 306 00:17:14.680 --> 00:17:18.079 and I watched it and I was like, god, damn, oh, 307 00:17:18.240 --> 00:17:20.640 I get it. It was like a twenty minute video 308 00:17:20.680 --> 00:17:24.200 and I totally understood it right away. Instantly felt kind 309 00:17:24.240 --> 00:17:28.519 of stupid for not thinking of it like earlier. I 310 00:17:28.839 --> 00:17:31.799 mean not, you know, not thinking of it myself as 311 00:17:32.119 --> 00:17:34.839 much as I hate banks and worked in real estate 312 00:17:34.880 --> 00:17:38.079 and have you know, familiarity with mortgages and everything, like, 313 00:17:38.200 --> 00:17:40.720 as soon as the light bulb went off and I 314 00:17:40.759 --> 00:17:43.319 was like, this is brilliant. Basically, what it does is 315 00:17:46.160 --> 00:17:48.799 they can take you from a thirty year mortgage down 316 00:17:48.839 --> 00:17:52.640 to between five and seven years, and you don't have 317 00:17:52.759 --> 00:17:56.599 to make double payments. You don't have to make extra payment, 318 00:17:56.640 --> 00:18:00.319 you don't pay anything extra. Whatever your whatever you're pain 319 00:18:00.599 --> 00:18:03.920 right now on your thirty you pay the same. It's 320 00:18:04.240 --> 00:18:07.720 it's not about increasing your payment. It's about getting out 321 00:18:07.720 --> 00:18:11.000 of that instrument. It's about getting out of that mortgage. 322 00:18:11.359 --> 00:18:13.640 So everyone goes, oh, is it like a REFI No, 323 00:18:13.759 --> 00:18:17.519 because it's not a mortgage. Is it a recast? Yes? 324 00:18:17.599 --> 00:18:22.319 And no, it's not recasting your mortgage. It's a helock. 325 00:18:22.400 --> 00:18:24.359 It's a home equity line of credit. It's a very 326 00:18:24.400 --> 00:18:27.960 particular type of helock. And you have to be you 327 00:18:28.000 --> 00:18:29.720 have to have equity in your house, and you have 328 00:18:29.799 --> 00:18:32.640 to have a good credit score, and you have to 329 00:18:32.720 --> 00:18:35.079 be cash flow positive every month, and you have to 330 00:18:35.079 --> 00:18:37.319 be disciplined. But if you are and you're just like 331 00:18:38.039 --> 00:18:40.079 you know your the math works out for you on 332 00:18:40.119 --> 00:18:42.680 your house right now. Where it's like you, you know 333 00:18:42.720 --> 00:18:46.279 you bring in ten, your mortgage is four. You're good, right, 334 00:18:46.440 --> 00:18:50.160 you know you're good every month? Right, Well, this flips 335 00:18:50.160 --> 00:18:55.680 the time value of money into your favor instead of 336 00:18:55.759 --> 00:18:59.440 the banks. Once you get into this helock and the 337 00:18:59.480 --> 00:19:02.680 money come in, you just set it all. Everything gets 338 00:19:02.680 --> 00:19:05.319 set up like a bank account. It's just one big 339 00:19:05.359 --> 00:19:09.119 bank account that's paying your mortgage and your your paycheck 340 00:19:09.160 --> 00:19:11.839 goes in there. Your bills are tied into that. You 341 00:19:11.960 --> 00:19:15.559 just put everything into it. And when you do that, 342 00:19:15.720 --> 00:19:17.480 and they show you through, they walk you through the 343 00:19:17.559 --> 00:19:22.440 math of how it basically recasts your mortgage every day 344 00:19:22.680 --> 00:19:24.799 if you have well it's not a recast your he 345 00:19:24.920 --> 00:19:28.079 lock every day. If you have a mortgage you are capped, 346 00:19:28.400 --> 00:19:31.200 it can recast it twice. What a recasting means is like, 347 00:19:31.279 --> 00:19:35.319 let's say you have a thirty year mortgage and you 348 00:19:35.359 --> 00:19:37.680 put ten percent down, but then over the course of 349 00:19:37.960 --> 00:19:40.359 a couple of years, you threw a big chunk of 350 00:19:40.400 --> 00:19:44.240 money in there, and you'd like it to be reflected. 351 00:19:44.519 --> 00:19:47.279 Your mortgage is essentially set. You'd like it to be 352 00:19:47.359 --> 00:19:50.599 reflected in your payment, So you asked for your mortgage 353 00:19:50.599 --> 00:19:53.559 to be recast, so they recalculate it based on that, 354 00:19:53.880 --> 00:19:56.640 factoring in that big chunk. Maybe the big chunk was 355 00:19:56.759 --> 00:19:59.319 enough to put you instead of ten percent down, twenty 356 00:19:59.359 --> 00:20:01.480 percent down, so it got rid of the private mortgage 357 00:20:01.519 --> 00:20:04.319 insurance and it changed, like brought your whole payment down 358 00:20:04.359 --> 00:20:06.799 a couple hundred dollars. Like that's a recast. That's why 359 00:20:06.880 --> 00:20:10.799 you would do it. This thing recasts every day, and 360 00:20:10.960 --> 00:20:14.880 because it's doing that every day, it's basically whittling away 361 00:20:15.000 --> 00:20:18.640 at your principle every day. With a mortgage, you don't 362 00:20:18.640 --> 00:20:21.559 even touch the principle until you're in like year seven, 363 00:20:22.359 --> 00:20:25.240 they don't even it doesn't even start. You're done with 364 00:20:25.319 --> 00:20:29.599 it by the time a traditional mortgage even starts on it, 365 00:20:30.279 --> 00:20:32.359 you know what I mean. And once I saw that, 366 00:20:32.440 --> 00:20:36.440 I was like, holy shit. So that has been a 367 00:20:36.720 --> 00:20:39.119 huge game changer. I started talking about it I and 368 00:20:39.119 --> 00:20:40.519 then of course I go in the back end. I 369 00:20:40.519 --> 00:20:43.119 can see who's signing up, and like people are all 370 00:20:43.839 --> 00:20:47.079 all over it. They're like, fuck, yeah, I want that. 371 00:20:47.440 --> 00:20:49.640 You like almost to the point where you feel like, oh, 372 00:20:49.680 --> 00:20:53.559 they're gonna they're gonna make this illegal. Yeah, like there 373 00:20:53.640 --> 00:20:55.480 good for sure, they're gonna make it so that you 374 00:20:55.519 --> 00:20:58.400 can't offer. It's really hard to find the these loan 375 00:20:58.440 --> 00:21:01.440 programs and this company call banks every day and they're 376 00:21:01.480 --> 00:21:03.759 looking for them. They're calling all these small banks looking 377 00:21:03.759 --> 00:21:07.359 for this needle in the haystack because everyone and now 378 00:21:07.359 --> 00:21:10.480 and then they go away, but they find them. It's 379 00:21:10.480 --> 00:21:13.079 been crazy. So sometimes you can kind of flip the 380 00:21:13.119 --> 00:21:17.640 game into the favor of the people, but not if 381 00:21:17.640 --> 00:21:22.200 you're doing like traditional banking with a bank, you're screwed. Then. 382 00:21:23.480 --> 00:21:27.319 Yeah, that's how I feel sort of about being an 383 00:21:27.400 --> 00:21:31.319 S corporation. I think that's a little bit of that too, 384 00:21:31.440 --> 00:21:33.039 where it's like a little it's almost too good to 385 00:21:33.039 --> 00:21:36.519 be true, and I hope they don't like outlaw them 386 00:21:36.640 --> 00:21:40.640 or something. And then also a little bit different, not 387 00:21:40.720 --> 00:21:43.920 quite as like amazing, but HSA's and I feel like 388 00:21:44.279 --> 00:21:48.240 everything should just be HSA should insurance should be outlawed 389 00:21:48.559 --> 00:21:51.480 in favor of hsas, not just HSA's but whatever it 390 00:21:51.519 --> 00:21:54.720 would take to replace the h with like car or home, 391 00:21:55.039 --> 00:21:58.039 not just health right, but just savings accounts for whatever 392 00:21:58.079 --> 00:22:00.359 it might be, crisis savings acounts. 393 00:22:00.359 --> 00:22:01.759 Howbout that cessays? 394 00:22:02.680 --> 00:22:05.400 So then nobody has to do this stupid insurance racket 395 00:22:05.759 --> 00:22:07.440 over and over again. I keep seeing these stories. I 396 00:22:07.480 --> 00:22:09.799 don't know why it's taken people this long. I said 397 00:22:09.799 --> 00:22:12.039 this when I was like fucking twelve years old. But like, 398 00:22:12.079 --> 00:22:13.759 if you just put the money that you're paying into 399 00:22:13.759 --> 00:22:16.400 insurance into an account and that's what you did, and 400 00:22:16.440 --> 00:22:18.440 then the time you actually needed to use it, you 401 00:22:18.480 --> 00:22:21.079