WEBVTT 1 00:00:00.040 --> 00:00:02.759 Want to hear wealky I'll back another episode of Day zero. 2 00:00:02.960 --> 00:00:06.000 It is day two forty three. We've got three of 3 00:00:06.000 --> 00:00:10.160 the four, three of the core four, the Immaculate one, 4 00:00:10.359 --> 00:00:14.359 the Spiritual one, d one, the Powerful one is out today. 5 00:00:15.199 --> 00:00:21.000 But guys, you know, this week has been a week 6 00:00:21.039 --> 00:00:27.440 of of remembrance, a week of going back, a week 7 00:00:27.480 --> 00:00:30.440 of yeah yeah, a week of people saying that I 8 00:00:30.559 --> 00:00:33.880 told you so. Because of course this week they brought 9 00:00:33.960 --> 00:00:38.799 Fauci back in and they were grilling Fauci. Of course 10 00:00:38.840 --> 00:00:44.560 he was pleading the fifth one hundred and eleven times. Yeah, 11 00:00:44.799 --> 00:00:47.479 it was like, it's like the. 12 00:00:51.520 --> 00:00:56.280 Entire time that fucking Chappelle skit and I and I 13 00:00:56.479 --> 00:00:59.640 just thought, we're at the end of we're at the 14 00:00:59.799 --> 00:01:02.719 we've come to a complete full loop where like all 15 00:01:02.799 --> 00:01:05.879 of the ship that Dave Chappelle was doing his spoof 16 00:01:06.439 --> 00:01:09.319 comedy skits has now become reality. 17 00:01:09.680 --> 00:01:12.840 Yeah, it's real, it's real life. 18 00:01:12.959 --> 00:01:16.480 One hundred and eleven times he invoked the fifth, which 19 00:01:16.519 --> 00:01:19.239 doesn't even apply to him because he was pardoned. 20 00:01:21.359 --> 00:01:26.280 Well, they was somebody was saying that he could get 21 00:01:27.040 --> 00:01:31.920 was he if he lied about stuff now while he 22 00:01:32.040 --> 00:01:34.200 was up there, then he'd be a current lie as 23 00:01:34.200 --> 00:01:38.640 opposed to a old lie, and maybe they could do start, yeah, 24 00:01:38.760 --> 00:01:43.000 restart the process. So you know, his counselor of course, said, hey, 25 00:01:43.000 --> 00:01:46.840 will you get up there. Don't say anything that's not 26 00:01:46.879 --> 00:01:47.799 incriminating at. 27 00:01:47.719 --> 00:01:52.400 All, isn't lit. We went pretty quick from trust the 28 00:01:52.480 --> 00:01:54.359 science to plead the fifth. 29 00:01:56.879 --> 00:02:01.640 Yeah, extremely quickly, extremely quickly. I am the look, I 30 00:02:01.680 --> 00:02:04.280 haven't I haven't put this out yet. I got I 31 00:02:04.319 --> 00:02:06.000 got a little small video I'm putting out, but I 32 00:02:06.079 --> 00:02:08.800 just go ahead and share it with everybody in the 33 00:02:08.840 --> 00:02:13.560 audience's look. As as much as I would like to 34 00:02:13.599 --> 00:02:19.199 take a victory lap, you know, saying that I told 35 00:02:19.240 --> 00:02:25.319 you so, I have no solace in this, okay, because 36 00:02:25.319 --> 00:02:30.599 we lost straight the fuck up. We took a l. 37 00:02:32.520 --> 00:02:34.479 You got twenty years worth of inflation in a year 38 00:02:34.479 --> 00:02:38.520 and a half. That's the L and there and there's 39 00:02:38.560 --> 00:02:41.479 no coming back, Like, we can't put it back in 40 00:02:41.479 --> 00:02:44.919 the box. So as much as I see people up 41 00:02:44.960 --> 00:02:46.759 there like, oh, I told you say this, and it's 42 00:02:46.800 --> 00:02:51.039 like it doesn't matter. We're all still here and we're fucked. 43 00:02:51.479 --> 00:02:53.719 You know what I'm saying, As far as far as 44 00:02:53.759 --> 00:02:58.439 that goes, as far as your money means anything, you 45 00:02:58.560 --> 00:03:02.360 being able to potentially own property and stuff in the future. 46 00:03:02.479 --> 00:03:05.080 If you don't have it nail and you don't have 47 00:03:05.120 --> 00:03:08.000 some type of gig is paying extremely well, it's gonna 48 00:03:08.000 --> 00:03:10.319 be difficult. 49 00:03:11.199 --> 00:03:14.879 It felt like twenty twenty, you know, like in those 50 00:03:15.000 --> 00:03:18.120 movies where there's an earthquake and then like the ground 51 00:03:18.159 --> 00:03:20.960 opens up and there's like a big gap between the place. 52 00:03:21.439 --> 00:03:24.039 It felt like twenty twenty created like a big gap, 53 00:03:24.560 --> 00:03:27.479 and it's like you had to hurry up and jump 54 00:03:27.520 --> 00:03:31.400 over to that other side and be a homeowner or 55 00:03:34.840 --> 00:03:38.560 the American dream whatever that end quotes, whatever that means 56 00:03:38.599 --> 00:03:41.919 to you, Like you needed to jump on because after 57 00:03:42.000 --> 00:03:46.879 that everything drifted away so fast that you were either 58 00:03:47.159 --> 00:03:49.280 you were either in or or out. After that, it 59 00:03:49.400 --> 00:03:53.120 felt like when it comes to home ownership, especially because 60 00:03:53.439 --> 00:03:56.960 right a couple of things happened where prices have gone 61 00:03:57.039 --> 00:03:59.759 up like crazy in the last six years, but also 62 00:03:59.840 --> 00:04:03.400 now interest rates have as well, so it's one thing 63 00:04:03.439 --> 00:04:05.360 it's like, ah shit, you know, I wish I'd bought 64 00:04:05.400 --> 00:04:08.280 earlier because now I can't afford the house because it 65 00:04:08.319 --> 00:04:12.000 went from three hundred and fifty thousand to seven hundred thousand. 66 00:04:12.080 --> 00:04:14.919 It's like even if it had stayed at three hundred 67 00:04:14.919 --> 00:04:18.199 and fifty thousand, you probably couldn't afford that house now anyway, 68 00:04:18.279 --> 00:04:23.439 because the interest rate is tripled. So so you you 69 00:04:23.519 --> 00:04:25.600 double the price of the house and triple the price 70 00:04:25.639 --> 00:04:28.759 of the interest rate at the same time. Good luck. Yeah, 71 00:04:28.759 --> 00:04:31.920 I mean you you unless you have cash and a 72 00:04:31.959 --> 00:04:34.360 lot of it, you're kind of you're kind of cooked, 73 00:04:34.360 --> 00:04:36.720 and like everybody's sort of waiting like, oh, well, you know, 74 00:04:36.800 --> 00:04:41.000 I mean, we'll have like a big collapse in real 75 00:04:41.120 --> 00:04:43.959 estate prices. I don't know, I don't know. I don't 76 00:04:43.959 --> 00:04:45.879 know if there I think there's a I think there's 77 00:04:45.920 --> 00:04:48.680 an artificial floor with private equity that wants to come 78 00:04:48.680 --> 00:04:51.120 in and buy up all these single family homes, and 79 00:04:51.160 --> 00:04:53.480 I don't think. I think maybe it'll drop twenty percent, 80 00:04:53.560 --> 00:04:56.399 But if you want a big fifty percent drop like 81 00:04:56.439 --> 00:04:58.600 you got in two thousand and nine and ten in 82 00:04:58.639 --> 00:05:01.160 all those years, don't know. I don't know if that's 83 00:05:01.279 --> 00:05:04.120 in the cards anymore. I think it might just be 84 00:05:04.360 --> 00:05:10.279 like it's an asset, and you gotta have assets right now. 85 00:05:10.319 --> 00:05:14.279 If you don't have assets, you're fucked. And the ship 86 00:05:14.360 --> 00:05:18.079 is leaving the dock, and if you're not on it, 87 00:05:18.480 --> 00:05:24.000 with some assets, the system is going to destroy you. Well, 88 00:05:24.000 --> 00:05:25.680 the system is going to fall apart at some point 89 00:05:25.720 --> 00:05:26.279 here anyway. 90 00:05:26.319 --> 00:05:30.360 So yeah, Well, I don't think people don't understand when 91 00:05:30.360 --> 00:05:33.920 people are like, oh, man, you know the house market crash. 92 00:05:34.000 --> 00:05:40.160 I'm like, dude, if the housing market crashes to that 93 00:05:40.240 --> 00:05:43.319 hate good neither it's gonna be It's gonna be an 94 00:05:43.319 --> 00:05:49.439 absolute fucking wipeout, dude, Like, because the problem is is 95 00:05:49.480 --> 00:05:57.519 that people bank their core. What am I looking for here? 96 00:05:58.439 --> 00:06:00.800 There net worth in their house. A whole lot of 97 00:06:00.800 --> 00:06:02.920 people say net worth, Oh, what's your net worth? Oh 98 00:06:03.079 --> 00:06:07.079 well I got eight hundred thousand dollars net worth. It's like, huh, damn, 99 00:06:07.120 --> 00:06:09.759 you got eight hundred thousand dollars cash. Oh no, no, 100 00:06:10.000 --> 00:06:12.360 I've got a six hundred and fifty thousand dollars house 101 00:06:12.680 --> 00:06:14.240 and I got you. You see what I'm saying. So 102 00:06:14.279 --> 00:06:17.879 it's just like, right, well the dog. I mean, if 103 00:06:17.879 --> 00:06:20.680 you don't sell the house, that like you don't have it. 104 00:06:20.720 --> 00:06:24.360 But that's okay, all right, because for some reason somebody's 105 00:06:24.360 --> 00:06:26.600 got in their mind, oh I got it, I can 106 00:06:26.639 --> 00:06:28.839 take equity out of house and lot. I'm like, uh, 107 00:06:29.439 --> 00:06:32.800 you know, they don't want that money back right, Like 108 00:06:33.839 --> 00:06:36.480 they're just not gonna give you the money and just 109 00:06:36.560 --> 00:06:39.160 be like, Okay, good, there you go. That's your money. 110 00:06:38.839 --> 00:06:41.800 Like that's I hear people say that like, and I 111 00:06:41.800 --> 00:06:45.279 don't think they really understand what they're saying. If you 112 00:06:45.319 --> 00:06:47.800 take that equity and you're flipping, understand and buying more 113 00:06:47.839 --> 00:06:51.199 properties than okay, so you're trying to you're trying to 114 00:06:51.240 --> 00:06:52.199 flow cash flow. 115 00:06:52.639 --> 00:06:54.680 If you're taking equity out of your house and you're 116 00:06:54.680 --> 00:06:58.800 buying fur coats and bottle service at the club, then 117 00:06:58.839 --> 00:07:01.199 you're doing it wrong. If you're taking equity out of 118 00:07:01.199 --> 00:07:04.399 your house and using it to buy in a small 119 00:07:04.759 --> 00:07:08.439 apartment complex or something, or a business, and you're like, 120 00:07:08.879 --> 00:07:13.959 then that's that's leverage, and in fact, when done correctly, 121 00:07:14.120 --> 00:07:16.800 that's that's a great way to do it. I remember 122 00:07:16.839 --> 00:07:20.160 meeting with this guy back when I was doing commercial 123 00:07:20.199 --> 00:07:22.839 real estate, and this guy owned a million square feet 124 00:07:23.199 --> 00:07:29.160 of commercial real estate in Long Beach, Carson, Compton and 125 00:07:29.360 --> 00:07:31.680 at fifty dollars a square foot, so he had about 126 00:07:32.160 --> 00:07:36.519 fifty million dollars worth of industrial real estate. He looked 127 00:07:36.879 --> 00:07:40.839 like a mechanic, you know, like overalls fucked grease all 128 00:07:40.879 --> 00:07:43.839 over him, you know, just he you would never in 129 00:07:43.920 --> 00:07:46.319 a million years would you have guessed. And I asked 130 00:07:46.399 --> 00:07:48.399 him how'd you get all the how'd you buy a 131 00:07:48.439 --> 00:07:51.240 million square feet? And he said what he did was 132 00:07:51.240 --> 00:07:55.839 his first building he bought and after like a year 133 00:07:55.959 --> 00:07:59.920 or two, he had showed shown pretty good payments history, 134 00:08:00.120 --> 00:08:03.199 and he had a tenant that was paying him on time. 135 00:08:03.800 --> 00:08:05.959 He went to the bank and showed them that, and 136 00:08:06.000 --> 00:08:10.399 then borrowed against his first building and used that to 137 00:08:10.399 --> 00:08:12.920 buy a second building. And then with the second building, 138 00:08:12.959 --> 00:08:15.199 he got a tenant in there who did a good job, 139 00:08:15.800 --> 00:08:18.920 and he showed history of paying on that for two years. 140 00:08:18.920 --> 00:08:21.360 He used that to leverage it, borrow against it by 141 00:08:21.360 --> 00:08:23.600 a third, and then a fourth, and then a fifth. 142 00:08:24.040 --> 00:08:27.839 And then as this goes on over the years, the 143 00:08:27.879 --> 00:08:32.639 buildings start to kind of pay themselves, you know, if 144 00:08:32.679 --> 00:08:35.279 you do it for twenty years, and there's like becomes 145 00:08:35.279 --> 00:08:39.320 this string of buildings that wind up paying themselves off 146 00:08:39.960 --> 00:08:41.679 over the years. And this dude just wound up with 147 00:08:42.759 --> 00:08:45.120 a ton of buildings. But that's how he did it. 148 00:08:45.399 --> 00:08:48.200 He said, as soon as I got a mortgage on it, 149 00:08:49.679 --> 00:08:52.960 I leveraged, borrowed against it, and bought another thing and 150 00:08:53.039 --> 00:08:56.279 just just us used it tie up properties and then 151 00:08:56.279 --> 00:09:01.480 of course it's got the market's going up, which helps. 152 00:09:01.480 --> 00:09:03.960 But even if the market isn't going up, he's got 153 00:09:03.960 --> 00:09:07.559 somebody in there paying the mortgage on it. He's pretty 154 00:09:07.559 --> 00:09:09.600 and clear even if he's not making a profit. So anyway, 155 00:09:09.639 --> 00:09:12.039 I watch these guys make up fucking shitload of money 156 00:09:12.039 --> 00:09:15.799 by leveraging that way. And you talk to the average 157 00:09:15.840 --> 00:09:18.600 person about their house or their home or they have 158 00:09:18.720 --> 00:09:21.519 the they have this belief that like, oh, you know 159 00:09:21.559 --> 00:09:23.840 what I'll do is I'll just wait for the big 160 00:09:23.919 --> 00:09:27.320 crash the crash will come. It'll it'll take like you said, 161 00:09:27.360 --> 00:09:31.600 you know, take all the home prices down to twenty 162 00:09:31.960 --> 00:09:35.240 eighteen price levels, and then what and then I'll come 163 00:09:35.240 --> 00:09:36.120 in and I'll buy a house. 164 00:09:36.240 --> 00:09:36.759 No, you're not. 165 00:09:36.919 --> 00:09:38.200 You're still not going to be able to buy a 166 00:09:38.200 --> 00:09:40.960 house again because the interest rate is three times what 167 00:09:41.000 --> 00:09:44.240 it was before. The payment that you think you're making 168 00:09:44.360 --> 00:09:48.679 is not the twenty eighteen payment. That's a that's a 169 00:09:49.279 --> 00:09:52.320 that's a twenty eighteen price for the twenty eighteen interest rate, 170 00:09:52.399 --> 00:09:56.440 which was two and a half percent, it's six in 171 00:09:56.559 --> 00:10:01.919 three quarters. You know, it's not the same game anymore. 172 00:10:02.039 --> 00:10:07.519 So like, even if the real estate market crashes, people 173 00:10:07.559 --> 00:10:09.440 aren't going to be piling in like they think there 174 00:10:09.519 --> 00:10:11.360 if they have cash, that's a different story. But if 175 00:10:11.600 --> 00:10:14.080 you're getting, if you're borrowing, and you're like, oh yeah, 176 00:10:14.120 --> 00:10:17.279 then it'll all be able to make the inter all right, 177 00:10:17.320 --> 00:10:21.080 Well maybe maybe maybe you will, but don't forget that 178 00:10:21.159 --> 00:10:24.120 everything is predicated on that interest rate and it has 179 00:10:24.159 --> 00:10:26.600 been going up consistently. It's the one thing that Trump 180 00:10:26.639 --> 00:10:30.720 needs to go down for his presidency to be considered 181 00:10:31.039 --> 00:10:34.080 a victory for him, and it's just been going up 182 00:10:34.120 --> 00:10:37.240 the whole time. He just sucks at his job in 183 00:10:37.360 --> 00:10:39.919 every single way in which you can suck being the president. 184 00:10:40.000 --> 00:10:46.879 I mean, he really it's funny except that we all 185 00:10:47.080 --> 00:10:48.159 have to deal with it. 186 00:10:49.399 --> 00:10:52.440 He wont somethin golf tournament today or something or recently, 187 00:10:52.559 --> 00:10:55.919 I guess, And what is He's eighty, I guess. And 188 00:10:56.039 --> 00:10:58.039 so he won this tournament and people are like, wow, 189 00:10:58.080 --> 00:10:59.679 you're eighty and you won this. You don't even have 190 00:10:59.679 --> 00:11:03.240 time to practice. It's talent something I have. They don't have. 191 00:11:04.480 --> 00:11:06.679 Such brump. It's such a fucking awesome. 192 00:11:06.960 --> 00:11:08.720 But that's what that's what, that's that's what, that's what 193 00:11:08.759 --> 00:11:10.759 we'd like to hear. That's what we'd like to hear. Yeah, 194 00:11:10.799 --> 00:11:13.039 but a but if you think people are stuck in 195 00:11:13.080 --> 00:11:16.279 their houses, now just let let their house drop two 196 00:11:16.360 --> 00:11:20.399 hundred thousand dollars in value. Well forgot, they damn sure 197 00:11:20.399 --> 00:11:26.600 ain't going nowhere. Yeah, like because now you now you've 198 00:11:26.600 --> 00:11:29.519 got to add that on to your next house. Like 199 00:11:29.600 --> 00:11:31.440 I see people do this with cars all the time. 200 00:11:32.720 --> 00:11:34.759 Like that's how to get yourself in trouble. With cars. 201 00:11:35.720 --> 00:11:39.360 They'll go in, they'll start trading vehicles in and when 202 00:11:39.399 --> 00:11:43.399 they trade a me in, they can't get enough money 203 00:11:43.440 --> 00:11:46.120 to cover what's left on the loan, and so it 204 00:11:46.200 --> 00:11:48.320 gets float over into the next car. And so. 205 00:11:49.960 --> 00:11:54.320 Yeah, they'll do that in houses. That's called okay, now okay, 206 00:11:54.480 --> 00:11:56.879 just let okay, you go straight into foreclosure. They don't 207 00:11:56.919 --> 00:11:58.679 let you roll it into the next house. They just 208 00:11:58.720 --> 00:11:59.000 take that. 209 00:11:59.000 --> 00:12:02.720 Back, okay, okay, so they just so there we go, 210 00:12:04.559 --> 00:12:06.159 So there we go. So they won't let you get 211 00:12:06.159 --> 00:12:07.679 in trouble. You say, don't let you get in trouble 212 00:12:07.720 --> 00:12:08.000 with a call. 213 00:12:08.559 --> 00:12:11.279 The cars will let you roll that negative negative equity 214 00:12:11.320 --> 00:12:15.600 over into another car because and laugh at you as 215 00:12:15.600 --> 00:12:19.279 you drive off the lot of course, but with the houses, 216 00:12:19.440 --> 00:12:24.519 they just go, no, here's the here's the trick. We 217 00:12:24.720 --> 00:12:28.480 loaned you fake money to buy this house. We typed 218 00:12:28.480 --> 00:12:32.360 in numbers into the computer, which expanded the money supply 219 00:12:33.440 --> 00:12:36.080 by us doing that for you to buy a tangible 220 00:12:36.159 --> 00:12:38.240 real estate at piece of real estate, and then you 221 00:12:38.399 --> 00:12:41.799 defaulted on it, and then we got a house. We 222 00:12:41.960 --> 00:12:44.720 the bank got a house for doing nothing. So they 223 00:12:44.720 --> 00:12:49.879 own the house now and you don't. And uh so 224 00:12:49.960 --> 00:12:53.399 you definitely don't want to fall by if you bought 225 00:12:53.440 --> 00:12:56.080 something within the last three years and it drops, like 226 00:12:56.120 --> 00:12:59.679 you said, if it goes down two hundred thousand, yeah, 227 00:12:59.679 --> 00:13:02.279 you can't. You can short sell it. You can maybe 228 00:13:02.320 --> 00:13:05.519 get the bank to agree to write it off, but 229 00:13:06.240 --> 00:13:08.919 and do a short sale, which which is doable, and 230 00:13:09.000 --> 00:13:10.919 it tanks your credit for a couple of years. But 231 00:13:11.360 --> 00:13:15.960 and I did that on my big house that I 232 00:13:16.000 --> 00:13:19.360 got on the wrong end of short short sold it 233 00:13:19.399 --> 00:13:24.200 to a guy for half the price. Fucking help. You 234 00:13:24.279 --> 00:13:29.480 got a million dollar house for five. 235 00:13:27.639 --> 00:13:31.840 Thousand someone here in Colorado Springs, which is saying they're 236 00:13:31.840 --> 00:13:35.759 trying to sell their two bedroom condo. The hoa is 237 00:13:35.840 --> 00:13:39.159 four hundred something a month, four hundred dollars a month, 238 00:13:39.159 --> 00:13:42.120 and that includes all utilities, which is not normal for 239 00:13:42.200 --> 00:13:47.600 each way in my experience at least, so all your utilities, garbage, water, gas, electricity, 240 00:13:47.639 --> 00:13:50.440 everything's included in that. It's already seems like that's the 241 00:13:50.440 --> 00:13:53.240 price you pay per month for all those services. So 242 00:13:53.279 --> 00:13:55.759 it seems like a really decent HOA compared to most, 243 00:13:55.759 --> 00:13:57.960 which you're fucking retarded. They're like eight hundred dollars and 244 00:13:58.000 --> 00:14:00.039 all you get is like a pool that is some 245 00:14:00.080 --> 00:14:04.559 times open and painted, you know, exterior now and then 246 00:14:05.120 --> 00:14:07.519 I don't know what this money's going towards. But they're 247 00:14:07.559 --> 00:14:11.120 selling this condo again, two bedroom. I'm a pretty decent 248 00:14:11.159 --> 00:14:16.000 size one hundred and forty thousand, and nobody's buying. I 249 00:14:16.039 --> 00:14:18.559 was like, well, that's but that's crazy because it's like 250 00:14:18.720 --> 00:14:22.720 way lower than what the market's been for a long time, 251 00:14:22.840 --> 00:14:25.639 and everybody's talking about there's nothing affordable and nobody can 252 00:14:25.639 --> 00:14:27.799 buy anything. And but here she is with this sitting 253 00:14:27.799 --> 00:14:29.039 on it and it's not moving. 254 00:14:31.360 --> 00:14:36.159 There could be some reasons for that. Is it a 255 00:14:36.200 --> 00:14:43.360 condo in a condo building? Yeah, sometimes you never know 256 00:14:43.399 --> 00:14:49.360 the case. But sometimes in Palm Springs in particular, which 257 00:14:49.399 --> 00:14:52.799 is where I grew up because the ownership of the 258 00:14:52.879 --> 00:14:56.840 land is checkerboard with the Indians. The Indians own every 259 00:14:56.840 --> 00:14:59.960 other square mile or square acre, no square mil. 260 00:15:00.200 --> 00:15:00.679 I think. 261 00:15:04.559 --> 00:15:11.120 Some buildings are land leases. In some buildings are fee simple, 262 00:15:12.200 --> 00:15:17.840 straight up ownership. If you're looking at if you're going 263 00:15:17.879 --> 00:15:20.559 down one street and you're looking for condo buildings and 264 00:15:20.559 --> 00:15:22.200 palm springs, and you go to one and it's three 265 00:15:22.279 --> 00:15:23.879 hundred thousand, and you go to the next one and 266 00:15:23.919 --> 00:15:26.159 it's two hundred thousand, and you go, what the fuck 267 00:15:26.240 --> 00:15:30.600 is the difference? Yeah, it's that land lease component. 268 00:15:30.759 --> 00:15:32.879 Yeah. That was in Washington too, because there's a lot 269 00:15:32.879 --> 00:15:36.799 of Yeah, because there's a lot of tribal land in Washington. 270 00:15:36.879 --> 00:15:38.799 So I find places and be like, holy shit, this 271 00:15:38.840 --> 00:15:41.080 one's so cheap, Like, oh, you don't own the land. 272 00:15:41.240 --> 00:15:43.759 And if they ever decide to which doesn't happen, but 273 00:15:43.919 --> 00:15:46.080 it could they ever decided to take the land back, 274 00:15:46.120 --> 00:15:48.519 they're like, yeah, get your fucking house out here. Now 275 00:15:48.519 --> 00:15:50.080 you're just a house and no where to put it. 276 00:15:51.039 --> 00:15:51.200 You know. 277 00:15:51.240 --> 00:15:53.480 Again, it doesn't really happen that much, but it's it's 278 00:15:53.559 --> 00:15:56.080 weird for me to think about investing all your money 279 00:15:56.080 --> 00:15:58.399 and time into a property that you don't actually own 280 00:15:58.240 --> 00:16:00.240 it outside of the fact that none of us owns 281 00:16:00.279 --> 00:16:03.799 anything eminent domain and you know, property taxes and all 282 00:16:03.840 --> 00:16:07.480 of that, you know you can't own that. Then again, 283 00:16:08.039 --> 00:16:11.159 I don't know, because I've never met a homeowner, Like 284 00:16:11.200 --> 00:16:13.679 I've only ever met people with mortgages. I've never met 285 00:16:13.679 --> 00:16:16.240 anyone who's actually paid off their property, or if I have, 286 00:16:16.320 --> 00:16:18.080 I can't think of them at the moment. They're so rare. 287 00:16:18.840 --> 00:16:22.120 So I can say, oh, I've been a homeowner three times, 288 00:16:22.120 --> 00:16:24.919 but realistically, I've never owned anything. I've just paid mortgages 289 00:16:24.919 --> 00:16:25.360 on things. 290 00:16:25.720 --> 00:16:29.120 So check this out. I've got a new sponsor, and 291 00:16:29.440 --> 00:16:33.240 I got hooked up with the new meaning like February, 292 00:16:33.279 --> 00:16:36.759 so six months ago. I got hooked up with him 293 00:16:37.000 --> 00:16:40.960 through a guy who I call Texas Larry. He was 294 00:16:41.000 --> 00:16:45.399 my legal shield hookup from Tony Rdiburn. Great guy, been 295 00:16:45.440 --> 00:16:47.360 in the business for a long time. And he reached 296 00:16:47.399 --> 00:16:48.759 out to me one day and he's like, I have 297 00:16:48.840 --> 00:16:50.679 something that you need to hear about, Like it's going 298 00:16:50.720 --> 00:16:53.200 to blow your mind, especially given that you have spent 299 00:16:53.279 --> 00:16:55.440 thirty years in real estate year really and how much 300 00:16:55.440 --> 00:16:57.840 you hate the banks, You're going to love this. And 301 00:16:58.200 --> 00:17:04.359 it's called replace your mortgage, and so he sent me 302 00:17:04.400 --> 00:17:08.319 the video and I watched it and I was like, god, damn, oh, 303 00:17:08.480 --> 00:17:10.880 I get it. It was like a twenty minute video 304 00:17:10.920 --> 00:17:14.480 and I totally understood it right away. Instantly felt kind 305 00:17:14.480 --> 00:17:18.759 of stupid for not thinking of it like earlier. I 306 00:17:19.079 --> 00:17:21.759 mean not not you know, not thinking of it myself. 307 00:17:21.839 --> 00:17:24.640 As much as I hate banks and worked in real 308 00:17:24.759 --> 00:17:28.039 estate and have you know, familiarity with mortgages and everything. 309 00:17:28.039 --> 00:17:30.759 It like as soon as the light bulb went off 310 00:17:30.799 --> 00:17:32.640 and I was like, this is brilliant. Basically, what it 311 00:17:32.720 --> 00:17:38.119 does is they can take you from a thirty year 312 00:17:38.160 --> 00:17:42.000 mortgage down to between five and seven years, and and 313 00:17:42.079 --> 00:17:45.440 you don't have to make double payments. You don't have 314 00:17:45.519 --> 00:17:48.119 to pay make extra payment, you don't pay anything extra. 315 00:17:48.200 --> 00:17:52.720 Whatever your whatever you're paying right now on your thirty year, 316 00:17:52.839 --> 00:17:55.920 you pay the same. It's not it's not about increasing 317 00:17:55.960 --> 00:17:59.240 your payment. It's about getting out of that instrument. It's 318 00:17:59.240 --> 00:18:02.400 about getting out of that mortgage. So everyone goes, oh, 319 00:18:02.440 --> 00:18:05.079 is it like a REFI no, because it's not a mortgage. 320 00:18:05.119 --> 00:18:10.279 Is it a recast? Yes? And no, it's not recasting 321 00:18:10.359 --> 00:18:13.680 your mortgage. It's a helock. It's a home equity line 322 00:18:13.680 --> 00:18:17.039 of credit. It's a very particular type of helock, and 323 00:18:17.079 --> 00:18:19.119 you have to be you have to have equity in 324 00:18:19.160 --> 00:18:22.079 your house, and you have to have a good credit score, 325 00:18:22.200 --> 00:18:24.839 and you have to be cash flow positive every month, 326 00:18:24.880 --> 00:18:26.640 and you have to be disciplined. But if you are 327 00:18:26.759 --> 00:18:29.640 and you're just like you know your the math works 328 00:18:29.640 --> 00:18:31.720 out for you on your house right now, where it's 329 00:18:31.799 --> 00:18:34.559 like you, you know you bring in ten, your mortgage 330 00:18:34.599 --> 00:18:38.920 is four. You're good, right, you know you're good every month? Right, Well, 331 00:18:39.279 --> 00:18:43.960 this flips the time value of money into your favor 332 00:18:45.000 --> 00:18:48.000 instead of the banks. Once you get into this helock 333 00:18:48.759 --> 00:18:52.359 and the money comes in, you just set it it all. 334 00:18:52.400 --> 00:18:54.640 Everything gets set up like a bank account. It's just 335 00:18:54.839 --> 00:18:58.559 one big bank account that's paying your mortgage and your 336 00:18:58.680 --> 00:19:01.960 your paycheck goes in there. Your bills are tied into that. 337 00:19:02.000 --> 00:19:05.599 You just put everything into it. And when you do 338 00:19:05.680 --> 00:19:07.640 that and they show you through, they walk you through 339 00:19:07.640 --> 00:19:12.319 the math of how it basically recasts your mortgage every 340 00:19:12.400 --> 00:19:14.960 day if you have well, it's not a recast your 341 00:19:15.000 --> 00:19:17.559 he lock every day. If you have a mortgage you 342 00:19:17.599 --> 00:19:20.759 are capped, it can recast it twice. What a recasting 343 00:19:20.839 --> 00:19:24.599 means is like, let's say you have a thirty year 344 00:19:24.680 --> 00:19:27.359 mortgage and you put ten percent down, but then over 345 00:19:27.400 --> 00:19:29.920 the course of a couple of years, you threw a 346 00:19:29.920 --> 00:19:33.440 big chunk of money in there, and you'd like it 347 00:19:33.480 --> 00:19:37.160 to be reflected. Your mortgage is essentially set. You'd like 348 00:19:37.200 --> 00:19:40.039 it to be reflected in your payment, So you asked 349 00:19:40.039 --> 00:19:43.200 for your mortgage to be recast, so they recalculate it 350 00:19:43.240 --> 00:19:46.240 based on that, factoring in that big chunk. Maybe the 351 00:19:46.240 --> 00:19:48.599 big chunk was enough to put you instead of ten 352 00:19:48.640 --> 00:19:50.920 percent down, twenty percent down. So it got rid of 353 00:19:50.920 --> 00:19:53.799 the private mortgage insurance and it changed, like brought your 354 00:19:53.799 --> 00:19:56.720 whole payment down a couple hundred dollars. Like that's a recast. 355 00:19:56.720 --> 00:19:59.680 That's why you would do it. This thing recasts every day, 356 00:20:00.920 --> 00:20:04.799 and because it's doing that every day, it's basically whittling 357 00:20:04.839 --> 00:20:08.680 away at your principle every day. With a mortgage, you 358 00:20:08.680 --> 00:20:11.799 don't even touch the principle until you're in like year seven, 359 00:20:12.640 --> 00:20:15.480 they don't even it doesn't even start. You're done with 360 00:20:15.559 --> 00:20:19.880 it by the time a traditional mortgage even starts on it, 361 00:20:20.519 --> 00:20:22.599 you know what I mean. And once I saw that, 362 00:20:22.720 --> 00:20:26.680 I was like, holy shit. So that has been a 363 00:20:26.960 --> 00:20:29.359 huge game changer. I started talking about it. I and 364 00:20:29.359 --> 00:20:30.759 then of course I go in the back end. I 365 00:20:30.759 --> 00:20:33.359 can see who's signing up, and like people are all 366 00:20:34.079 --> 00:20:37.319 all over it. They're like, fuck, yeah, I want that. 367 00:20:37.680 --> 00:20:39.920 You like almost to the point where you feel like, oh, 368 00:20:39.920 --> 00:20:43.839 they're gonna they're gonna make this illegal. Yeah, like they're 369 00:20:43.880 --> 00:20:45.720 good for sure, they're gonna make it so that you 370 00:20:45.759 --> 00:20:49.240 can't offer. It's really hard to find these these loan programs, 371 00:20:49.240 --> 00:20:52.039 and this company calls banks every day and they're looking 372 00:20:52.039 --> 00:20:54.119 for them. They're calling all these small banks looking for 373 00:20:54.160 --> 00:20:57.640 this needle in the haystack because everyone and now and 374 00:20:57.680 --> 00:21:00.680 then they go away, but they they find them. It's 375 00:21:00.759 --> 00:21:03.319 been crazy. So sometimes you can kind of flip the 376 00:21:03.400 --> 00:21:07.880 game into the favor of the people, but not if 377 00:21:07.880 --> 00:21:12.160 you're doing ELEC traditional banking with a bank, you're screwed. 378 00:21:12.279 --> 00:21:17.359 Then. Yeah, that's how I feel sort of about being 379 00:21:17.400 --> 00:21:21.119 an S corporation. I think that's a little bit of 380 00:21:21.200 --> 00:21:23.000 that too, where it's like a little it's almost too 381 00:21:23.039 --> 00:21:25.200 good to be true, and I hope they don't like 382 00:21:26.039 --> 00:21:30.759 outlaw them or something. And then also a little bit different, 383 00:21:30.799 --> 00:21:34.079 not quite as like amazing, but HSAS and I feel 384 00:21:34.079 --> 00:21:37.759 like any everything should just be HSA insurance should be 385 00:21:37.880 --> 00:21:41.680 outlawed in favor of hsas, not just HSA's but whatever 386 00:21:41.680 --> 00:21:43.880 it would take to replace the h with, like car 387 00:21:44.519 --> 00:21:47.640 or home, not just health right, but just savings accounts 388 00:21:47.680 --> 00:21:51.759 for whatever it might be, crisis savings accounts. Howbout that csays, 389 00:21:52.920 --> 00:21:55.519 So then nobody has to do this stupid insurance racket 390 00:21:56.000 --> 00:21:57.680 over and over again. I keep seeing these stories. I 391 00:21:57.720 --> 00:21:59.960 don't know why it's taken people this long. I said 392 00:22:00.079 --> 00:22:02.240 this one was like fucking twelve years old. But like, 393 00:22:02.319 --> 00:22:03.960 if you just put the money that you're paying into 394 00:22:04.000 --> 00:22:06.599 insurance into an account, and that's what you did, and 395 00:22:06.680 --> 00:22:08.680 then the time you actually needed to use it, you 396 00:22:08.680 --> 00:22:11.319 would like, you know, how much do I have plus interest? Whatever, 397 00:22:11.359 --> 00:22:14.160 it's this much money. You would actually be paying less 398 00:22:14.200 --> 00:22:17.440 out of pocket for your services, and you would pay 399 00:22:17.599 --> 00:22:20.839 less over time for most people most of the time. 400 00:22:21.680 --> 00:22:24.000 Prices would also come down because we all know that 401 00:22:24.519 --> 00:22:27.680