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June 23, 2025 - Fresh & Fit

01:45:23

David Greene Returns!

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	What's up, guys?
	Welcome to Freaker Podcasts, man.
	It's Monday Monday.
	We're here with Dave Green from BiggerPockets.
	Let's get into it.
	Let's go.
	Well, we know who you are, man, but can you introduce yourself to the people that might not know?
	Yeah, I'm David Green.
	I was a former police officer, started buying rental properties, got really into that, did it a lot, bought a lot of them, then I became a real estate agent, started a real estate team.
	up starting a mortgage company, got out of law enforcement, which was probably a good move considering what it's like these days trying to manage the relationships between the public and the government.
	And now I run a mortgage company, have a podcast called The David Green Show, write books, teach people how to invest in real estate and run businesses.
	Last time you heard you spoke about Airbnb.
	Do you still do Airbnbs now?
	I still have them.
	Yeah.
	Are they still doing well or is it kind of hard to marketplace?
	I don't think anyone's Airbnbs are doing great right now because as the economy does great, people travel more.
	You do better with that.
	As the economy does bad, one of the first things people cut out are vacations.
	So Airbnbs in general are doing bad.
	The economy in general is doing bad.
	And real estate, from the perspective that I take, tends to float with how the economy does.
	Right.
	So, you know, we're talking about earlier, like, kind of where the real estate market is now.
	I mean, can you kind of give a broad overview of how the market is in general all across the United States?
	And then also, guys, just so you know, you'll be able to call into the show 646.
	I don't know where the number went.
	One sec.
	But yeah, you guys will be able to call into the show as well.
	We're going to have a call on the show for you guys.
	So you guys, oh, yeah, 646-490-0394.
	Again, that is 646-490-0394.
	So go ahead and get on the line.
	If you guys want to go ahead and cut the line, you know what to do.
	FNFSuperchat.com, cut the line, Romoranton, whatever it may be.
	And, you know, you can ask us questions.
	So, so yeah, man, if you could give a quick little, I guess, overview of the market where it stands now.
	Yeah, you can kind of trace it back to 2010 when we had a crash.
	People got in, started buying real estate.
	There was all this talk of banks being too big to fail.
	The government introduces more currency into the economy through quantitative easing and growing the treasuries.
	What that does is it creates more money basically to change hands, which means real estate is going to do well because that money has to find a place to go.
	We did it again during COVID.
	We printed a whole bunch more money to kind of mask the effects of how detrimental it was to shut down an entire economy for nine months or whatever that was.
	So real estate's just been crushing it for a decade.
	You just couldn't do better.
	Around the time that Biden was trying to get re-elected, the Fed increased interest rates very suddenly by a lot immediately and hasn't put them down.
	That had a detrimental effect on the economy, how often money changes hands, and definitely real estate in an attempt to try to keep prices from going up.
	So even though we haven't seen like an increase in home prices like we did, and we haven't seen a huge crash yet.
	Like in 2020, it was crazy because the interest rates were so low.
	And there's money and people can get loans.
	So like, you know what?
	You're going to get a loan with a 2% interest.
	I can increase my home's price by $50,000, $100,000.
	And there's so many people that want to buy it because where are you going to put your money?
	Inflation is eating any money you keep in the bank.
	So you have to invest it.
	It was either that or tech companies.
	Those are two things that did amazing.
	When they raised rates, it really screwed up the real estate industry a lot because especially like the commercial sector, your properties are valued on how much they cash flow.
	Well, how much your interest rate is will affect the cash flows quite a bit.
	So it just turned it on its head, basically.
	And I kind of think that was a political thing where Biden wanted to get re-elected and he was very unpopular for inflation.
	So we just increased rates a lot to try to make him look better.
	And then obviously they had to replace him with Kamala and Trump was elected.
	And Trump has been trying to get rates down and the current Fed doesn't want to do that.
	Of course.
	So real estate is just sort of stuck in this place where prices aren't crashing.
	They could.
	Prices aren't going up.
	But what has crashed that doesn't get talked about is the velocity of transactions is way down.
	Absolutely.
	Yeah.
	So people don't want to sell, bro.
	No one wants to sell and no one wants to buy.
	And insurance is way up and taxes on properties are up.
	And what you got to pay a maintenance worker is up because nobody wants to work blue-collar jobs anymore.
	And all the materials you got to buy are way up because of inflation.
	So you kind of have this carbon monoxide that spread through the industry where rents can't go up because someone's getting raises at work.
	But expenses are going up on you.
	And you can't sell it because there's not a lot of people that want to buy it.
	And we're in a stalemate.
	And you probably, if you did buy it during the 2020, early 2020s, you got it at a good rate.
	So you don't want to even refinance.
	You know what I mean?
	So, yeah.
	I mean, we've been stuck at like this weird 7% to 9% interest rate for the past several years now.
	So, and even me, like I've been able to really raise rents on my properties, even here in Miami.
	I've pretty much had to keep it at where it's at.
	For the first time, I'm seeing investors buy Bitcoin and gold instead of real estate now.
	They find a deal, of course, but it's hard to find a deal.
	So they go to gold on Bitcoin now instead of fully real estate like before.
	I don't, yeah.
	I mean, people are trying to find something to put their money in.
	Yeah.
	I guess I just overall the entire economy, there's no easy answer like we had for the last 10 years.
	The problem is, how do I make more money?
	They're making money here.
	They're making money here.
	How do I learn all these things?
	What do I do?
	Now people are left without a lot of options.
	And you almost have to like restructure the entire economy.
	We're going to have to find a place for people to get back to work.
	We're going to have to find a way for people to invest money into something that's going to do well.
	And I don't know what that's going to be.
	And I also want to be clear, we're not telling you guys not to invest in real estate, but what we are telling you guys is like, it's not going to be, you're not going to find an abundance of deals like you did three or four years ago.
	You know, you're going to have to look a lot harder.
	You're going to have to be really meticulous with the numbers because interest rates are higher, which means you don't make as much money on cash flow.
	Your cash or cash returns might not be at a certain place.
	I tell people shoot for eight bare minimum to 10% cash or cash returns.
	What's your metric that you use?
	If you're doing long-term rentals, yeah, residential, that's a good number that you can try to.
	8 to 10%, yeah.
	That's thinking offensively, how much money can I make?
	I think in the future, we're going to have to be thinking a whole lot more about how to keep your investment, like how to not lose it, because I'm worried about your tenants not being able to pay their rent because they all got laid off.
	And instead of having conversations about how we get a higher cash on cash return, we're going to be having conversations about how do I not go into foreclosure because there's nobody to pay rent on these properties.
	And how do I pay rent on my own property if I don't have a job?
	Yeah.
	Yeah.
	No, very true.
	You mentioned jobs being lost with the current system coming, right?
	So to cover that, basically, you got people saying AI is the way to go.
	Obviously, we learn AI, but that doesn't mean a job is going to be available for people that have blue collar jobs or want blue collar jobs.
	What do you think is going to happen next for the marketplace?
	Because if you can't find a job, what do you do?
	That's what I'm worried about overall.
	And I don't know why it's not being talked about more, other than maybe people are afraid.
	I think they are.
	And so it's easier to talk about something happening in the Middle East right now that doesn't have anything to do with us.
	And you just keep your attention on those types of things instead of what you can do in your position.
	What it looks like is all the white-collar jobs are going to be lost first.
	You're just not going to need a bookkeeper.
	You're not going to need an accountant.
	AI and large language models are going to be able to do a lot of what smart human beings used to do.
	A lot of people in the medical industry are going to lose their jobs.
	They're probably all going to hit the job market at the same time.
	And if there's nowhere for them to go, they're going to be applying for unemployment.
	They're not going to be able to pay their mortgages.
	If your tenants work in those industries, they're not going to be able to pay their rents.
	I'm worried about this rush.
	Like if you have all the houses hit the market at the same time for sale, the house values crash.
	Well, if employees have the same problem, the labor market crashes.
	And since most of us own mortgages on our properties, someone has to, we have to pay something.
	You don't own them free and clear.
	If everyone loses their jobs and there's nowhere for them to go, the real estate market's going to tank.
	The economy is going to tank.
	I guess I don't know how we prevent that from happening.
	At minimum, you're going to need a period of time to figure out where these people are going to work.
	That would probably be a period where things crash.
	You know what scares me is more so than let's say you pay your property off, right?
	You're about to retire.
	Maybe you lose your income.
	You lose some of your money from maybe issues that come up.
	But your property needs to be fixed.
	And you can't get the money to fix your property.
	You're going to lose it.
	Or you're going to sell.
	But the problem is selling now is almost possible because who's going to buy it?
	Exactly.
	So it's kind of like at that point, what do you do to get cash?
	Because their interest rates are high.
	So they can't cash flow.
	That's the reason too, why it's hard to sell.
	Because, you know, you want to sell.
	Obviously, you want to sell out of profit.
	And then, you know, they're buying it with an 8% interest rate as an investor.
	You know, they're not going to be able to cash flow like maybe four years ago where the interest rate was like 3%.
	They'd be like, oh, yeah, I'll take this deal all day.
	Also, 1031s.
	Normally you could find a property like this, but to find another property in that same window, dude, it's kind of cooked, bro.
	Yeah, you got what, a year?
	Six months.
	Six months, six months to close.
	Six months to close, yeah.
	So it's kind of, but it's not a, it's not unique to real estate, right?
	Like real estate is like a buoy in the ocean.
	If the whole ocean is going to be disrupted, this is a bigger problem.
	Yeah.
	I mean, you know, crypto, obviously, we know is volatile.
	I still think real estate is the best asset class.
	It's just that it's harder to find deals now is the problem.
	It's probably a better asset class than anything else.
	Like the stock market would be just as likely to crash as real estate.
	All these companies now they lose their position because AI comes in and you have two or three winners out of what used to be 20 or 30 companies.
	You don't stop anything from crashing.
	It's just going to be a massive change in how humanity does things and how you bring value to the market.
	We're going to have to navigate.
	Well, well said.
	Again, guys, number of calls on the show is 646-4900-394.
	We'll open it up.
	Ready to connect.
	Click connect to show now.
	So you guys can go ahead and get your questions in.
	You are connected to Airbnb as well.
	Welcome, host.
	You are now in the host room and can manage your callers from the Collins Studio web interface.
	Do they have to hear this?
	Good to go?
	Are we good now?
	Okay.
	Smooth.
	Sorry, guys.
	Yeah, that's the service that we use for it.
	So we're live now on it.
	So again, 646-490-0394.
	Dave's also an expert when it comes to Airbnb.
	Tell us a little bit about the Airbnb market.
	So we talked about residential real estate.
	What about Airbnbs?
	Yeah, that's like hospitality, right?
	So most, you have two different basic categories of Airbnb or short-term rentals.
	The first would be just practical things like your company says, hey, I need you to go to Columbus, Ohio, and I need you to live there for three months, or you're going to go visit your family out somewhere.
	You stay at a short-term rental instead of a hotel.
	The other more popular one is what we call vacation rentals.
	So you're going to go visit the beach in Fort Lauderdale, or you want to go out to Miami, or you're going to go to the mountains and stay in a cabin, and you want to go stay in somebody else's property in that area.
	Those do very well when there's not a lot of them to compete with and people are traveling a lot.
	You can make really good money, but the downside or what you're giving up is you're going to be a lot more work into those.
	When the economy is bad, people aren't traveling and they're not taking vacations as often.
	And when everything you have is more expensive, you're way more likely to say, I'm just going to cut back and not take that vacation or we're going to go somewhere for the weekend.
	We're not going to fly to a whole new area and go somewhere expensive.
	So short-term rentals take a very big hit.
	At the same time, they're not popular within the communities where you have them.
	Neighbors don't like short-term rentals.
	So like I ran into a lot of problem with mine that were actually here in South Florida because the neighbors that were there would call the city and complain saying, we don't want this property.
	And there's nothing they can do to stop me.
	The state of Florida allows it to happen.
	So the cities have to come up with creative ways to shut you down and stop you.
	So there's like a lot of.
	Like they banned Airbnb in New York City altogether, right?
	They changed laws that you can't do it a lot of the time.
	Same in California.
	That's like 30 days or more in almost every market.
	But if you bought that house claiming.
	So you can't even have an Airbnb.
	So people can't run an Airbnb from me for 30 days or more.
	That's the only way that they can do it.
	It has to be for 30 days or longer.
	Gotcha.
	Okay.
	But what happened is a lot of investors bought properties and then the laws changed.
	Now what do you do?
	You got to sell it, but who's going to buy it from you?
	And they're definitely not going to pay the price you paid for it if they can't come in and rent it out.
	And there's a whole lot of people in the real estate space.
	It's kind of like this weird example of like you got in the ocean and the tide's like right here and then it goes down to your feet real quick and you feel stupid.
	Right.
	Like that happened in the real estate market where a lot of people entered in and they ran their numbers and they did their due diligence and they did what they were supposed to do.
	And then boom, the rules change, the economy shifts, everything changes.
	And now the investors are scrambling like, what do we do with this?
	You know, this is why I always stayed away from Airbnbs.
	I know that they were like really popular years ago and I saw a bunch of people making a lot of money on them, man.
	But dude, I always looked at it like, if I got to rely upon the vacation market to be strong to get cash flow, I was like, dude, fuck that.
	Because you can make money hand over fist.
	It's a job too, by the way.
	When you got to maintain cleaners, you know, property.
	Like, dude, Airbnb's, bro, I had a friend who used to manage them as well.
	And people would say, oh, well, there was cockroaches in here or it was a bad place.
	And then you get a full refund.
	I'm like, what the fuck?
	They do.
	Everyone does that.
	It's like a game where they show up and they immediately start looking for something wrong with the house to hold it over your head and they threaten a bad review if you don't discount their stay.
	And now there's like TikTok channels and YouTube channels teaching people how to do it.
	Yes.
	And you're exposed to that in the culture that we have.
	Right.
	So Myron strategy is definitely like a defensively sound way to look at it.
	I think the future of investing, you need to spend a lot More time thinking about the types of jobs in that area.
	If this is a blue-collar town with like plumbers and drywall workers and city workers and sanitation engineers that are working there, they're going to be able to pay their rent.
	But if it's like San Francisco, Austin, Texas, yeah, tech that can be replaced by AI and all those people lose their jobs, you could have bought the best property at the best price with the best cash flow, but there's no one to rent it from you.
	So on record, there's actually a number that says they've lost, well, people have lost 180,000 jobs in tech so far.
	And AI isn't even fully here.
	Right.
	So that's scary, bro.
	Very scary.
	It's supposed to be sound, a good career, a longevity to your success, but tech nowadays is like fight by night.
	It's not secure.
	And that's just tech.
	What about when this hits the white collar jobs?
	Cooked, bro.
	It's cooked, bro.
	I don't know any way out.
	Actually, let's talk about actual universal income.
	Yeah, that's what I hope I'm wrong.
	Yeah.
	Right.
	But when I play it out in my head, what it looks like is AI comes and takes all the tech jobs first.
	And then it comes and takes any job that requires you to be an intelligent person.
	Lawyers can charge a lot of money because they know a lot of stuff.
	But when a large language model can search everything in the history of JBT and give you an answer for this is your odds of winning your case or this is what you're doing.
	I know people that hit ChatGPT first and they say, okay, I need a lawyer.
	I don't need a lawyer.
	So they completely take away the consulting fee from a lawyer.
	Now it is, okay, you know what?
	I need this lawyer to be specific and I'm good.
	Your job as a lawyer is kind of diminished because now I go to ChatGPT, boom.
	Yeah, or you're a doctor that spent 20 years looking at radiology images or MRIs and now they don't need you because AI can do it better than you can.
	All the intelligent people that used to be valuable to society are the first ones to be replaced.
	The people that survive are the ones that can do something with their hands that AI can't replicate.
	Like everything's getting turned upside down.
	We've been talking about how like a plumber can't get a girlfriend.
	Let's go.
	He's going to be the new king of the mountain for a while.
	But like how our entire economy is going to adjust to this, I can't see us not having a period where there's going to be local areas that get decimated because all the people that work in those areas lose their jobs.
	And other areas do fine.
	So like if you're in like a blue collar suburb like Connecticut or something like that, I know you do some of your investing there.
	I don't think that's super tech heavy.
	I don't think you have a bunch of doctors, lawyers.
	But what if you live in Beverly Hills and like you make your money from being really smart?
	Who's going to want to rent a house in that area?
	And I don't know if you can predict how it's going to work, but we're talking about universal basic income.
	You're going to have panic.
	You have everyone like, what do I do?
	I want to work.
	Where do I get a job?
	And now whoever the president is has to solve that problem.
	I kind of, when I watch what we're doing with the Big Beautiful bill and manufacturing and tariffs, I'm assuming I think Trump is looking at this like, I got to find a place for people to have a job when this comes because it's going to come.
	Working in a plant, like you're Eminem an eight mile, building cars or something is something you can do to have a job to give people somewhere to go.
	If we don't have manufacturing, I don't know what the answer is.
	Like I'd be listening to someone else.
	I'm open to hearing it, what we're going to do for people to work.
	I don't know what that's going to be.
	And when people panic and they're threatening to riot, you have to do something to placate them.
	And I think you're going to have politicians that will offer universal basic income.
	Like everybody relax.
	We'll give everyone five grand a month.
	Don't panic.
	Similar check.
	Yeah.
	And then we become a socialistic economy.
	Control.
	If you don't do what I say, zero account.
	And the people who don't do anything anyways like that, it's like if we're going to have a buffet where it's like a potluck, everyone brings something.
	If you weren't bringing any food, you like a potluck.
	But if you're the one that spent all day cooking, you don't like that you did a lot of work and brought something of value and someone else just threw some bread rolls in there and they're like, okay, we're good to go here.
	I think we end up a socialistic country.
	And if you own real estate at that time, you'll probably like, you'll have some wealth, but I don't know how you acquire any when you can't be an entrepreneur.
	You can't go make your own money.
	Or maybe if you can, it's just way harder, way harder.
	And there's way more competition.
	That's my fear of like the direction that we're going in.
	Yeah.
	Honestly, bro, combating this is going to be tough, but I think having a network of people that you trust, that have money as well, will help you kind of navigate it.
	But yeah, man, it's not going to be easy.
	Phone calls?
	Yeah, yeah, we can.
	646-490-0394 is the number to call into the show, guys.
	Let's go ahead and get somebody on the line.
	We have 3082.
	You are up.
	3082.
	You're up.
	John with Fresh and Finn and Dave Grimo.
	What's up?
	Hey, how's it going, guys?
	You.
	Hey, I've got a question.
	My landlady hit me with some bad news here a couple weeks ago.
	I'm on disability, and where I've lived, I've been here for 21 years, and I don't exactly want to move, nor can I really afford to move with the price of rent and everything being what it is nowadays.
	Now, I did tell her I would like to purchase the house, but with me being on disability, I don't know how to go about being able to do that.
	So do you live in like a single-family home and she's renting it to you?
	It's a duplex.
	Okay.
	Okay, so she lives on one side and you live on the other?
	Oh, she rents out both sides.
	Okay, so you want to buy the duplex from her?
	I would, yes, I would ultimately prefer to buy it.
	Then that way I don't have to move and then I can use it as some extra income for myself to supplement my disability.
	So I'm confused.
	You said first you can't afford to move, but now you're saying you want to buy the house.
	Which one is that?
	Well, yes, I would like to buy the house.
	The house is only, I called the appraisal district, and they said that the house is currently sitting on the market at like $38,000.
	A duplex for $38,000?
	Bro, where do you live?
	In Texas.
	Got to be out there in the middle of nowhere.
	$38,000 for a duplex is crazy, bro.
	Are you disabled, bro?
	You say he's disabled, yeah.
	Yes, I am disabled.
	Don't you get government housing for that?
	No?
	Well, it's always disabled.
	Yeah, no, I can't even get food stamps.
	They say I make too much money.
	Oh.
	Okay.
	Are military disabled?
	No.
	I drove a truck for 20 years.
	Okay.
	So I'm trying to figure out here.
	So what's the specific question?
	So you're saying, are you asking whether you should buy the house or not?
	Well, it's not so much should I buy the house as if I decide to buy the house.
	How do I go about, well, what's my best course of action?
	Well, it depends on if she owns the house outright or not.
	If she owns the house outright, she can be the bank and you can do seller financing.
	But that's assuming she would want to even sell it to you.
	She might not want to do that.
	So it really depends.
	What do you think that?
	She said she was preferring somebody who could just flat out give her cash.
	There you go.
	Well, you probably, you can't get a loan to buy a $38,000 property.
	Banks aren't going to give loans in that low of a loan amount.
	So you either have to have cash to give her, or like Myron said, you're going to have to make an agreement with her to make a payment to her every single month.
	And if you can rent out the half you're not living in and that is the same as the payment, you can probably figure out a way to live for free.
	Or if she's insisting that you pay her cash, can you borrow the money from someone else, pay her, and make the payment to them every single month instead of to her directly?
	There you go.
	That's another way.
	That's smart.
	I discussed it with an uncle that lives up in Wisconsin, and he has enough in his 401k where he would be willing to pay cash for it if he could still, you know, if he could get it at a reasonable price, because the property, it needs a lot of repairs.
	Her husband passed away like maybe two years after I moved in here, and it's just gotten to the point where she's just overwhelmed with the amount of repairs.
	All right.
	So if there's a lot, so she wants to get rid of a distressed seller.
	Bro, offer $35,000, $30,000 to $35,000.
	Buy a cash.
	Borrow the money from your uncle, like you said.
	Work something out, maybe 30 years, fixed interest rate, 2%, 3%.
	He's a family member.
	I don't think he's going to want to go ahead and make a bunch of profit on you like that.
	And that right there in itself will be good.
	He gives you the money, and then you basically pay him every month with a 3% interest rate.
	Okay, yeah, because that's, well, basically what we're looking at, what we discussed, we're going to get the current neighbor that's living next door out, get the repairs done on that side, and then possibly rent the house out for, say, $7.50 a month.
	All right.
	Well, you're counting the chickens before they hatch, my friend.
	You got to get the property first.
	Hey, tell you what, bro.
	You got to focus on getting the property first.
	So that's what we're talking about is acquiring it.
	So if the woman only wants, it seems like she wants a cash deal.
	So I'm assuming she probably owns the house outright.
	You can borrow the money from your uncle, work out a good interest rate, maybe a repayment plan of 30 years.
	He becomes a bank and you just pay him every month and you buy the house from her cash and then you go from there.
	But you got to acquire the asset first before you start talking about all this other stuff.
	Okay, yeah, because I didn't know.
	I know I've heard y'all talk about FHA loans and whatnot and things like that.
	I didn't know if we were going to be able to do that.
	Well, like Dave said, you made a good point.
	The bank's not even going to bother giving you a loan for something that little because they'll make no money.
	Bro, I'll be honest.
	I mean, it's kind of risky.
	It's kind of what Laster's word.
	You can get a personal loan, then buy the property.
	But then again, you got to pay that back.
	And your rate's higher.
	He wants to get all the benefits of a mortgage, but on a $30,000 house, they don't have loan values that low.
	Yeah.
	The best bet is borrowing it from his uncle.
	Because at least with his uncle, he can negotiate a fair interest rate that won't destroy him.
	So, man, bro, those are some of your options, man.
	All right.
	Yeah, because I like to say, currently right now, like my rent's only like $300 a month.
	And I, you know, paying that and then the income that come in from the other side of the house.
	That's the address of it.
	That should be more than enough to pay the house.
	Brother, send me the address real quick, bro.
	I want to say something real quick.
	Send me the address for a property.
	All right.
	Yeah, dude, but I think that's the move for you, bro.
	Given your situation and what's going on, I think that's the move.
	Make a low-ball offer since the house needs a lot of repairs.
	Offer to buy at cash.
	Close the deal in two weeks.
	Borrow the money from your uncle.
	Work out a deal with him.
	2% to 3% interest rate.
	Maybe he'll want a little bit more, maybe 4%.
	And then, yeah, bro, you're in the money, dude, because you'll own the property and you'll be able to rent out the other side and it'll make sense.
	I mean, you work the numbers out on your side, but I think that's kind of the beginning place.
	And you kind of fine-tune the details from there.
	Okay.
	And Fresh, you said to send you the address.
	No, I'm kidding, bro.
	All right, I'll be honest with you, bro.
	You know what I would have done if I was a fucking asshole?
	I would have said, give me the address.
	I'll go buy it from you.
	And then listen, nigga, fucking rent.
	Rent's going up.
	I'm just kidding.
	No, but don't share the address, bro.
	Do what David said.
	Have your uncle pay for it, bro.
	Best scenario, and then go from there.
	But again, bro, that's a steal, bro.
	$300 for rent is fucking amazing.
	It's fucking amazing, bro.
	All right.
	All right.
	Well, I appreciate it.
	You guys keep up the good work.
	All right, bro.
	No problem, man.
	Good luck.
	Cool.
	Who's up next?
	Again, 646-490-0394, guys.
	You got your questions in.
	Airbnb, real estate, general wealth creation, whatever you guys want.
	We got Dave Green in the house, man.
	So, you know, that is funny, man.
	Next up, we have 3199.
	You are up.
	3199.
	3199.
	Let's go.
	Hello, am I on?
	Yes, you are.
	What's up?
	You're on?
	Hey, Myron.
	Quick question.
	I'm trying to think of ways how to level up my status.
	Like, I'm a professional MMA fighter.
	And the last time I tried to level up my status, I called out Hassan Piker because he pissed you off.
	And that actually raised up a bunch of viewers online, like on Twitch.
	But the thing is, I'm very controversial.
	I also do believe that, like, for example, I'm the type of guy that will say Free Palestine.
	And I believe that it's hard to do that when there's, I feel like there's a thing called thought crimes, or I feel like there are things that are stopping me to become famous or leveling up my status and or having ways to have like to build up like a YouTube channel.
	But the thing is, bro, how old are you?
	I'm 22. I have a life full ahead of me.
	I'm a hardworking person.
	I'm 4-1 in MMA right now.
	I've been listening for your channel religiously for about over a year.
	And y'all guys are my hero.
	You, Fresh, Mo, Chris, all you guys are my heroes.
	And I will die protecting y'all in y'all's name.
	I appreciate that, man.
	But you don't have to, bro.
	So let me make sure I understand this correct.
	You want to be famous?
	Well, I'm trying to level up my status through MMA fighting, but the thing is, I'm a controversial fighter.
	How would I level up my, how would I talk to fans without because in the fight game, I can't say free Palestine.
	I can't say, like, people see me as a misogynist.
	People see me as a racist.
	People see me as all these names without reality.
	I'm just a controversial fighter.
	Yeah.
	So, look, bro, I think you got to pick one, right?
	Do you want to be a fighter or do you want to be an influencer?
	I would say you're 22 years old.
	You're young.
	Fight.
	Keep your mouth shut, right?
	Stay away from divisive topics that can destroy opportunities for you.
	And then once you get big enough where you're too big to fail, then you can kind of go ahead and start saying and doing what you want.
	But you're trying to dance on top the mountaintop without having gotten to the top yet.
	So you got to get there first.
	Then you can go ahead and people will care about what you got to say or you can, you know, risk that type of that controversy, bro.
	Because the thing is, is like you got to, you got to, you got to put yourself in the shoes of like the bookers and the platforms.
	They're looking at like, okay, we got this guy that's four and one.
	He's an okay fighter, but is it worth bringing him in and all the drama, right, to bring him in?
	And when we can get somebody else that shuts their mouth and just fights, they're going to go with the person that's a lower liability every single time.
	So if you want to be controversial and be able to say the things that you want to say and do the things that you got to do, you got to make it where it's worth it for them to take that risk with you.
	Does that make sense?
	Yes, sir.
	I feel like it's hard to be...
	You got to pick one, bro.
	You got to pick one.
	Femee?
	Doesn't work together, bro.
	Unless you're Kanye OS and you're up there.
	If not, bro, you're cooked.
	Remember, it's corporate, bro.
	But the thing, the fight game, the fight game, they want people like a McGregor because it's self-promotion.
	Of course.
	But you're not McGregor, are you?
	No, I'm better than McGregor's.
	All right, nigga.
	And I'm white.
	Bro, like, you got to pick something, bro.
	Either you're going to fight, become better, and get the level like Maureen said, or try to crash out now, but crashing out now, bro.
	You're crashing out where?
	Yeah, bro.
	Bro, build up your resume more.
	Then you can go ahead with the crazy shit, bro.
	But become, like, build up your resume more now where, like, it, like, you're worth the risk.
	Does that make sense?
	Dude, you got to understand that all these brands, they look at everything as brand risk.
	That's literally how they look at it.
	They could do a cost-benefit analysis.
	Is platforming this guy and having this guy fight on our shit or this guy on our platform worth the headaches that are going to come inevitably from platforming him?
	If the answer is no, they're not going to fuck with you.
	So you have to make it where the answer is yes.
	And the only way that the answer is going to be yes is you need to build up your repertoire, build up your resume, make it where it's like, okay, this guy's crazy, but he's going to bring in views.
	This guy's an accomplished fighter.
	His resume is impeccable.
	So you got to build it up, bro.
	4-1 is not enough for you to be able to tell niggas fuck off.
	You got to get more W's under your belt and build a stronger resume.
	Oh, my God.
	Thank you, Myers.
	Thank you, Fresh.
	That is exactly what the fuck I needed.
	Oh, my God.
	I'm about to turn the fuck up.
	My next fight, I'm going to wear the Fresh and Fit shirt, too.
	Can I wear y'all shirt or do you think that's bad?
	You could if you want, bro, but I don't want you to be able to get it.
	I don't give a fuck.
	I don't give a fuck.
	Y'all build me up.
	Y'all build me up.
	I don't like, I made a million views my last.
	How about this, bro?
	How about this?
	How about this, man?
	Dude, you got to pick one, bro.
	You can't just chase clout.
	You're going to be focusing on fighting or chasing clout, bro.
	Just focus on fighting for now.
	Build up your fucking resume.
	Then maybe on your 20th fight, you could wear a Fresh Africa hoodie, okay?
	How about that?
	I don't want your career getting ended just in the beginning, dude.
	Build up your resume, get more W's, okay?
	Bro, do me one favor, bro.
	What's your Instagram?
	I lost my IG account.
	It got banned, of course.
	Yeah, bro.
	You're destroying yourself before you even start, bro.
	Cooked, man.
	Yeah, bro.
	Can I ask you a question?
	Go ahead.
	Why do you like listening to Myron and Fresh?
	Because they speak truth.
	Okay.
	Would you say they're the best at what they do?
	Do you think they're the best at what they do when they give advice and they explain things?
	I would listen to Myron and Fresh more than my parents.
	But you listen to them because they're good at podcasting, right?
	Do you listen to them because Myron has a need to be significant and he wants everyone to know who he is?
	Or do you listen to him because he's very articulate and he's thoughtful and he's been through a lot of things in his life that gives him a well-rounded perspective where he can see through stuff other people can't?
	Right?
	He talked about miskiv?
	I believe Byron and Fresh talk through like wisdom.
	Yes, because they earned that.
	That's what I'm getting at.
	At 22 years old, if you have a desire for everybody to want to know who you are and you want to be famous, you don't have anything to offer the world yet.
	You need to be focusing on being the best MMA fighter there is.
	You need to be outworking everyone in the gym.
	You need to not leave until the instructors there say, we are done.
	You need to go home.
	And you need to be there waiting, wiping down the mats before they get there, showing them value.
	And doing that over and over and over puts you in a position where you can be famous, where people want to hear what you have to say.
	But if you're trying to figure out how do I jump to the top while also fighting, while also being controversial, you're just going to be spread really far.
	It's going to hurt your masculine journey.
	Yeah, it does.
	I can feel it.
	I can feel that algorithm type of feeling.
	It hurts a lot.
	Doing what I do, nobody can do what I do, but I somehow, by listening to.
	Look, bro, you got your marching orders.
	You know what to do.
	Keep fighting.
	Get some more W's under your belt.
	And then we can come back and strategize on how to make you go viral but get some more wins first okay let's get the next person on the line thank you bro for calling into the show and don't wear the pressure hoodie I don't want you losing opportunities all right man peace all right who's up next six four six four nine zero zero three nine four some of you guys were funny bro we're all just bro zero four one three you're up zero four one three you're up hello yo what going yo what's
	up y'all um i just had a question about i bought my house me and my wife bought a house uh before the pandemic had hit so we got a really good interest rate and um the price was like 150 000 for the house and right now it's about sitting at like 250 so we're sitting on a about 100k of equity i'm just wondering if i should take a heloc loan out and like use it somehow because the money's just sitting there right now and
	also my dad he is a builder so i was thinking about taking the loan out and buying a piece of property somewhere and having my dad build he said he could build for cost i'm wondering if that's a good idea or not so you have equity in your property you're thinking about taking out a heloc and using that equity to build something new right correct you said your dad's a builder so let's assume he can build at a good price do you have experience with development uh no i
	don't so that's what's going to get you hurt it's not going to be the part you know like your dad building it's going to be the zoning laws the infrastructure how you get the city to approve of you bringing in power i mean i've seen people do this that buy land and say they're going to build on it they don't even know that they needed to check where the power was going to come from and they find out it's going to be like three million dollars to run a power line to the plot of land that they bought they just didn't think about it before they bought it that's where i'd be worried about doing something new every time we do something we haven't done before it's not stuff that you know that's going to screw
	you up it's stuff that you don't know that you should have looked out for i'd rather not see you build something brand new i'd rather see you get a dump like a burnout house that you can buy that's already zoned for what you want it has plumbing run to it it has electrical but it's like a complete teardown that your dad can use his his construction experience to go in there you could buy the thing for 10 15 20 grand depending what area you're in and you could rebuild a house on a lot that exists rather than try to buy land and build something from scratch gotcha yeah
	that makes sense so yeah so yeah that makes a lot of sense so the plan would be to the plan was going to be to build something new and then move my family into that house and then rent out my current property that i'm in right now but you're saying you know find something that's a little beat up maybe you know in a different type of neighborhood and then invest in that property find something massively beat up like that that other investors don't want to take on because their dad is not in construction that scares other
	people okay that's some good advice he just saved you a bunch of money so and headaches so with that the advice that you gave would that be the best way to use um you know the money that i have in my property currently or would there be is there better options on the table i think when i was given advice five years ago six years ago and i was watching inflation ripping through people's savings i was much more aggressive with how i told people to invest but like we started off the show talking about we don't
	know what direction the economy is going and the best real estate deal in the world does you no good if the entire economy collapses and you have no tenants to rent it so i don't think you need to have this feeling like i got a hole burning in my pocket i got 100k of equity i need to use that mindset was applicable when there was a lot of options everywhere i think you should be thinking how do i keep what i have how do i play defense and if you have an incredible opportunity like we talked about yeah that's the best option is take out a heloc and buy it or sell the house and put some of that money towards
	the new one as opposed to thinking you need to have two of them because if like let's say you're in an area that gets decimated by ai coming in and laying everyone off now not only are you not able to finish your construction but you lose the house you have versus if you sold it you had that cash in the bank when that comes in you may be able to buy something at a really good price yeah that makes sense man yeah i appreciate that be patient advice i'm trying to give you another question that i have was uh so would it be smart to take
	a heloc loan out and just not use the money just to have it sitting there for like a security blanket or should i just leave it alone and sell it until i find that opportunity yeah that's what you would do like we do helocs at my mortgage company the one brokerage so you would apply for it you pay for the cost of appraisal it's almost nothing and you have the ability to take money out but you don't actually pay any interest on it until you need it it's kind of like having a loaded gun that you don't actually have to go use you don't want to wait to load your gun until this is why i think helocs are so much better than cash out refis man this is why i guess i mean because you do it both right you do cash out refis as
	well yeah because you can like kind of just have it there ready to go versus with the cash out refi you pull it out it's a one-time thing and you got to use it right then which makes sense if you're getting a better rate you get a better rate on a cash out refi and you get a fixed rate the helocs can go up or down but it's way more expensive and you're you're like locked in you have to do something with that money versus like you said a heloc it's there if you need it but you're not forced to use it you're basically paying for convenience with a more variable interest rate but is it uh with with the helocs that you guys do is it with uh is it only when you pull the money out that you're
	paying that interest rate okay yeah then that's fair uh but yeah bro and here's the thing you'll get a better rate because you live in a house right it's not an investor heloc yeah you'll have a better yeah we've been there for like five years now and our rate is 3.5 it gets crazy when you have an investment property and getting a heloc on that that's when things get a little bit i fresh took one of those it was was it i mean can you tell me what was your experience with because you're one of the few people i know that has a heloc on an investment property network what on my network i'm not gonna because typically
	speaking if you have investment property you don't live in it you're not getting a helocyt but it's risky to them i know a banker that knows banker and they said okay we'll structure it this way for you to give you a heloc we do those two we could do on my investment properties but they will be more expensive you're definitely paying more for that that makes sense guys i'd love to see you know what i want to say fresh and fit you know i appreciate you guys i've been watching you for years and you know keep on dropping the knowledge and what anybody got to say.
	Just keep doing y'all and staying true.
	I appreciate y'all.
	No worries, man.
	You were going to say something to him, Dave?
	Go ahead.
	Yeah, and everybody listening, right?
	You don't need to have this FOMO that we had for so long about, I got to do something.
	I got to do something.
	Everybody's making money.
	I'm not making any money.
	If you've got some money set aside that you've been saving, you're in a very good position.
	It is okay to wait right now and watch how things play out and jump into the game once you've seen how things go versus what it used to be where there's a high sense of urgency that if you didn't take action and do something, you were going to get passed up.
	Yeah.
	Good point.
	All right, caller.
	You know what to do.
	Thanks, go ahead.
	No worries, man.
	Who's up next?
	Let's get the next person on the line.
	Let's help as many of you guys as we can.
	And then just, of course.
	Next up, we have 7752.
	You are up, 7752.
	Yo, what's up?
	Can you guys hear me?
	Yes, we got you, man.
	What's up?
	What's up, guys?
	This is a perfect time because I have a great idea for the guy that just called before me.
	So what I do is I build a house.
	I live in it for two years using the section 121 for the IRS code.
	And I sell that.
	And since I'm single, I can make up to a quarter million dollars tax-free.
	And I just roll that right into my new build.
	Okay.
	Cool.
	Do you have a question?
	Well, I don't have a question.
	I was just kind of like bringing awareness to it.
	Like, I'd never hear anybody really talk about it.
	Like, so a year ago.
	All right, bro, bro, bro.
	We're going to move on to the next call.
	Then if you don't have a question, that's fine.
	You know, I think we're going to help the guide.
	But thank you for your statement, though.
	All right.
	Who's up next?
	We have.
	I got a lot of people on the line, guys, so we got to obviously, you know.
	We have 5579, you are up.
	5579, you're up.
	Guys, he wanted to talk about himself.
	What do you like?
	This isn't like us.
	He wanted to literally talk about himself.
	We're not going to.
	He didn't have a question.
	So, all right.
	What's up, bro?
	Hey, can you guys hear me?
	Yeah, you can.
	All right.
	My question is about ownership structuring.
	I heard the best way to go about owning multiple properties is having a holding company, typically a Dillaware LLC, and then have a separate LLC for each property.
	Do you guys agree with that, or do you think something else is better?
	Yeah, that's a great strategy.
	I mean, it's one of the few times where you want to actually have a business as LLC versus S-Corp is when you have real estate property.
	So, no, that's a good idea, man.
	I mean, a lot of people do it in different ways, but that general structure, I would say, works.
	I mean, what do you think, Dave?
	Yeah, that's going to be the safest way to do it.
	It's a little bit more expensive, but that's probably your safest structure.
	Your taxes will be a little bit more you got to pay to do those LLCs.
	Just don't get into the belief that you're completely safe because it's an LLC, because if you get sued, a judge will look at it and can still determine.
	It's called piercing the veil of the corporation.
	They can still determine that that person who wins a lawsuit against you can get into your other LLCs.
	So my advice would be, in addition to that, also make sure you have a decent amount of insurance on your properties that cover you in the case of a lawsuit because that is guaranteed to pay for you as opposed to hoping that your assets are protected in LLCs.
	Also, there's umbrella insurance that you can get as well, which I've heard about that.
	I'm going to be looking into that as well.
	Me and Roger are looking at that.
	So that's something else you can utilize.
	Yeah, I was going to ask if an umbrella policy for the holding LLC was better in case of that.
	Do you think it's better to have extended insurance for each property?
	Yeah, I don't think that that hurts.
	I don't think that hurts to have a second line, right?
	You got to, especially have like, you know, if you have a decent-sized portfolio, you know, something to definitely look at.
	Something I'm definitely going to start exploring very soon myself.
	All right.
	Can I ask one more follow-up question?
	Yeah, sure.
	So I also heard that if you want to start managing everything yourself, you should set up a separate C Corp or an S Corp and do it that way.
	Do you think that's best or just keep yourself as the only employee of your holding company?
	When you say set it up yourself, can you describe what you mean by that?
	Like setting up a C Corp so you can manage all the properties yourself or stay on as the only employee for the holding LLC.
	Why would you need a C Corp to be able to manage all the properties yourself?
	That's where I'm confused.
	I heard this from a tax guy.
	He doesn't own any properties.
	He just told me that this might be a good idea.
	It sounds like that advice is geared towards being able to pay yourself a salary out of the C Corp.
	Is that what you guys were talking about?
	Yeah, kind of passing it along through each property into the management company C Corp.
	Yeah, you can do that without having a C Corp.
	The biggest reason that you want a C Corp is because it will be taxed at a lower rate for whatever is left.
	But the downside is if you want to get the money out of the C Corp, it not only got taxed as the corporation, it gets taxed again when you take it out by your tax rate.
	That's what you want to avoid when you have a C corporation.
	I've done this before, but I never take the money out of the C Corp.
	I leave it in there.
	So if you're planning on like, you don't need that cash, you can just let it build and then use it to buy more properties and keep growing the portfolio that way.
	That's usually your best bet.
	But if you think you're going to need that money for some reason, you don't want to be in a C corporation.
	I'm not giving tax advice, by the way.
	None of us are your CPAs.
	Yep.
	All right.
	All right.
	Thanks, man.
	I appreciate it.
	No worries.
	Who's up next?
	Next, we have 3693.
	You're up.
	3693, you're up.
	Are these pay callers?
	Hello, madam.
	My name is Baljeet from India.
	I am calling today because my girlfriend's sister has very big feet.
	Yeah, we have some pay callers in locals.
	Telescope.
	Yeah.
	Perfect timing.
	2616, you're up.
	2616, you're up.
	Yeah, we got you.
	Go ahead.
	Yeah.
	Alright, so the situation is this.
	I have access to approximately a quarter meal online for credit and uh I would like to make them to use them and make some money.
	So now I'm looking at potentially buying a mobile home or small housing that doesn't cost much, buy them, and then try to basically sell the project to a bank to get a bank on a mortgage.
	So then with the down payment 80%, if I buy them low, then I can get my money back and then do the operation again.
	Do you guys have any either either network or do you guys know how this can be done?
	I know in Canada it's a little bit harder.
	The banks also don't like to give loans for mobile homes, but maybe in the US, you know, they're a little bit more flexible.
	Are you talking about the BERS strategy?
	No, not at all.
	So my idea is basically, let's say the mobile home costs like $150,000 or $100K.
	I'm going to try to buy it for like $70K and then get a mortgage for $80K.
	So then I need $10,000 because they will give 80% loans value.
	And then the $70K, I use it to pay back my line of credit.
	I make profit and I reuse the $70K to try to purchase another one and just make the money rolling.
	So you're keeping the property and refinancing it or you're selling it?
	I am buying and then I will keep the property, put some tenants in it.
	They will pay back the mortgage.
	I will make my money from the sale.
	That's the idea.
	And reuse the same amount of money or, you know, have some money to purchase them cash.
	That's the idea.
	Are you following this question?
	It's a bit confusing, man.
	Very disconjointing.
	So let's say I have there is a property that costs $100,000.
	I have $70,000 cash.
	So I will suggest them.
	Oh, let's say I can get it for $70,000.
	So I personally don't.
	All right, bro.
	I'm going to be honest with you.
	Your volume is really low.
	We can barely hear you.
	Oh, sorry.
	Sorry.
	Sorry.
	And you need to be a lot more concise in what you're saying here.
	What is your question specifically and make it concise?
	You have a very bad habit of joining on.
	You need to fix that.
	What is your question precisely?
	Because everyone at the table is looking at each other and like, what the fuck is this guy saying?
	In the U.S., is there a network or some, have you guys heard about something, people investing in mobile homes where they need investors?
	I can put some cash and then we can try to look at the plan.
	Yeah, there's plenty of syndications that collect money from a bunch of people, right?
	Grant Cardone runs one.
	I think Justin Waller might have one.
	I don't know if you have one, but I know your guy.
	Brandon does.
	Brandon has one.
	Like, they're all over the place.
	So, I mean, I would say don't limit yourself to just mobile homes.
	But yeah, bro, there's syndications everywhere where you could put money in and get some kind of return.
	But keep in mind that you don't have control of the asset 100%.
	You're getting a portion and you're not making the full decisions of the property.
	You're basically entrusting the person that you're giving the money to to do that.
	Are you sure you want to do that?
	That comes down to you.
	Okay, it's all going to depend on the numbers.
	Another way around is you can also invest in REITs instead.
	It seems to me like you want to be involved in real estate without having to deal with all the other bullshit.
	A REIT might be another option that you have instead of using a syndication.
	I'm already in REITs, so that's why I try to diversify into different things.
	Why not buy your own house, bro?
	I do have my own property, and I do have, yeah.
	So I'm trying to diversify essentially.
	Okay.
	So then, yeah, then if you already have your own properties and you've done, and you got REITs, you know, syndication is something that you could definitely explore as well.
	Just, you know, keep in mind that you're not going to have as much, you know, leverage or power when you get into syndications.
	You're kind of at the mercy of the investor and what they decide to put the money into.
	We can do foreign national loans at the one brokerage.
	You could buy a property yourself and not have to put your money into other people's stuff.
	It's kind of a, I don't know if it's well known by people that are not in my circles, but there's a very large amount of syndicators that are all losing everybody's money.
	I believe it right now.
	I believe it.
	Yeah.
	Yeah, I would not join a syndicate right now if I was an investor.
	Any deal that I do at this point, like I would do it myself, 100%.
	I would not fucking, you know, there's a couple.
	There's a lot of people losing money.
	And that could continue happening.
	This isn't the environment that if you don't know anybody in the U.S. and you're trying to find someone that you just heard about other people talking about, you don't want to be investing in syndications right now.
	Guys, if you notice, the tone here is to be smart with your money and not just throw it out there because hard times are coming.
	So that's the tone here.
	Yeah, I understand.
	Well, thank you, guys.
	No worries, man, bro.
	Take it easy, bro.
	Bye.
	Who's up next?
	Do we do the paid callers on locals?
	That was the paid caller.
	Cool.
	Shout out to all our guys and shout out to all you ninjas.
	All right.
	We have 4813.
	You're up.
	4813.
	Hello.
	You hear me?
	Yeah.
	Yep.
	Perfect.
	All right.
	I just had a question.
	All right.
	So I don't really know too much, but I'm thinking about trying to buy a house.
	But I live with my brother and my mom, and we live in an apartment.
	I just wanted to know what would be the best way to go about trying to buy a house.
	Do you think we should go all in together to try to get a loan?
	Or do you think it would just be better to do it on my own?
	You said your mom, your brother, and you?
	Yeah.
	We all pay for rent, basically.
	Okay, how much do you guys all earn together and then break it down by a person?
	I'd say I guess, well, I work two jobs.
	I'd say w I earn about four.
	I guess I'd say four K a month.
	Okay, she makes about $52,000 a year.
	All right.
	What about your brother?
	I would say he probably earns around the same.
	Okay.
	And then your mom?
	I think probably, I'm sorry.
	I think she probably earns around, I would say $40K a month or $40K a year.
	Okay.
	So altogether between you three, you guys are roughly making somewhere on $140,000 to $150,000 a year.
	So, I mean, it really comes down, bro, to like how much control over the property do you want?
	Like, if you want 100% control, obviously you'd want to buy it yourself.
	But if you are willing to share cash flow with your brother and your mom, then, you know, you guys can buy it together.
	You know, obviously doing a deal with three different parties might be a little bit, you know, trickier.
	Yeah, that's what I was thinking.
	But it would be a little tricky doing it with three people.
	It really comes down to what kind of property you and your family are buying and then what you guys, what your plans are.
	I mean, Dave, what do you think in the situation?
	Well, you guys live together, right?
	So would you be buying an investment property to rent out or would you be buying a primary residence you could all live in and then be paying yourselves instead of someone else?
	Yeah, I was thinking kind of like, well, I was thinking maybe like buy like a duplex or something like that.
	So that's crazy.
	We would just.
	So you would buy as an, just to be clear, you would buy as an investor then.
	You would not buy it.
	Yeah, I think so.
	Yeah, I'm not 100% sure, but.
	Yeah, I mean, if you buy as an investor, you got to come with significantly more money.
	You got to come with 20 to 25% down.
	But obviously that 20-25% down, you'll avoid PMI.
	You'll have a better cash flow ratio.
	You guys can, depending on who puts the most money in, you guys could work it out where, let's say you put the most money in, maybe you get 40%, your brother gets 40%, your mom gets 20% of every month's income.
	You could do it that way.
	But, you know, just keep in mind that if you are going to buy it as an investor, you're going to have to come with a good amount of money.
	That's just the down payment.
	And then you also got to do closing costs.
	Yeah, okay.
	Why don't you start with buying a house that you guys can all live in together, though?
	How much are you guys paying to rent right now?
	Well, all together, we pay, I'd say, $2,500 a month.
	Okay, so if you just bought a house that was like a duplex or a triplex, and you guys lived in one of the units together because you're already living together as it is, and you rented out each of the other two units for $1,000 each, you're bringing in $2,000 a month, and let's say your new mortgage is $3,000 a month.
	Now you've taken your $2,500 rent down to $1,000.
	You're saving $1,500 between the three of you.
	That's a way better return than you're going to get if you go try to buy something, put 20% down and make it cash flow.
	Don't worry about buying an investment property until you've eliminated your own housing expenses.
	That's like where you're low-hanging fruits.
	Okay, yeah, that's what I was wondering.
	Yeah, we don't even have a property.
	Like we don't own a house or anything like that.
	And like Myra said, it's way easier to buy a primary because you can put 5% down, not 20% down.
	And remove your cost of living bill or excuse me, bring it down significantly.
	Yeah, so then do you think doing an SHA would probably be the best way?
	It's a route that you could take.
	Yeah.
	You know, get a house hacking your way into the first house because what will happen is you'll be able to live in there if you, your brother, and your mom live together and you guys don't need separate units.
	Yeah, you can be on one side and then easily rent out another side.
	And remember, you can get yourself up to a fourplex.
	Okay, perfect.
	Yeah.
	So now I just wanted to get a grasp or understand at least a little bit more.
	I mean, I think step one, man, the whole purpose of being a real estate investor is to get cash flow either by getting it from tenants or minimizing and or eliminating your own housing costs.
	So if you house hack, right, utilize all three of you guys to get your first house, you can live in there for damn near for free.
	And then you rent out and then you guys make some money on the side a little bit, or at least at the worst case, offset your living expenses significantly more.
	If you want specifics on what loans you can get to buy a primary residence, just go to my website, davidgreen24.com.
	There's a chat feature.
	Just say, hey, I want to know what different loans there are to buy a primary residence and I'll connect you with one of my team members and they'll break it down for you.
	You don't have to figure this problem out.
	You just talk to the loan officer who knows all the different programs and they'll explain your options and it'll be pretty clear what you should do.
	Yep.
	What state are you in?
	In New Jersey.
	New Jersey?
	You guys do loans in Jersey?
	Sometimes.
	There's four states we don't do them in and New Jersey is one of the trickier ones, but I'll find someone for you that does if we don't do them.
	All right, yeah.
	I really appreciate it.
	Thank you.
	All right.
	Cool.
	No problem, bro.
	All right.
	What's up next?
	We have 4452.
	You are up.
	4452.
	You are up.
	Hi, everybody.
	I'm in Miami.
	My questions are for Myron, but always at the table.
	So I've decided to go to med school.
	I basically got blown out of big tech.
	I was a senior at Microsoft, senior at Google.
	And that whole AI thing you guys are talking about, it's already pretty much here.
	So, you know, I'm 32 now.
	I'm calculating I'll be 37. Yeah, I got laid off two years ago.
	I was making over $700,000 a year, man.
	Yeah.
	Yeah.
	I actually know one of the guys that was on one of your old podcasts.
	So, you know, and I had like three or four years of, you know, good.
	And, you know, I have always wanted to go to med school.
	I'm doing this now because I kind of don't see any other option that's kind of AI proof.
	Do you guys think it's a dumb idea?
	And my plan, by the way, which I've just achieved, is that I'm a funded trader.
	So I'm basically going to support myself plus loans doing that through med school.
	I know it sounds super far-fetched, but do you guys think it's a dumb idea?
	No, I mean, you know, they're always going to need doctors.
	I would just say if you're going to go down the route of being a doctor, you know, try to be a specialist if you can, if your goal is to make as much money as possible and not be easily replaceable.
	So, you know, being a specialist, whether it's a surgeon, urologist, you know, cardiovascular, you know, whatever it is.
	So I would say just try to get into a specialist role so that you can make significantly more money.
	Yeah, I was thinking orthopedic surgery, but, you know, just at the time, it's whatever I match into.
	But yeah, it's going to be one of the hands-on ones, not like radiology, for example, like one you guys just mentioned.
	All right.
	Have you looked into if AI is going to replace those jobs in the future and when?
	So it's two things.
	Right now, under the radar, radiologists, I know them, they're kind of using ChatGPT to kind of like excel their bill rate, right?
	Eventually, and I've seen companies like HCA doing prototypes where they're kind of using models like that, quote unquote, to speed up jobs like that.
	I don't think being a radiologist or a doctor is going to go away.
	I think it's like, what are you going to do that's going to make it more valuable?
	So, for example, being an interventional radiologist would be the thing probably, aside from just looking at pictures, right?
	But then at the same time, who wants an application telling them they have cancer?
	That might be more right than the doctor, but you would need, I guess, kind of like that representation.
	I'm a consultant right now in life sciences too.
	I work remotely.
	It took me two years to find that job after I got laid off.
	And a lot of what we're doing, like I built the chatbot for one of our companies, they fire their entire like contract review department.
	That was not my intention.
	That's what I was told to do.
	I just met with that customer.
	They fired 30 people because of what we built for them.
	I'm not joking.
	I'm not exaggerating.
	It's hair, dude.
	Yeah.
	Yeah, that's what worries me about just the housing market, the economy.
	What I'd hate to see is if it takes you six years to graduate and then by the time you finish, your job's already taken.
	By the time, because we all look at AI, what it could do right now, and people will say, oh, it can't do that.
	The thing is, AI teaches AI, and it exponentially increases how fast it learns things.
	Yeah, I'm thinking about surgery.
	So that's hands-on.
	I mean, I think as better, as robotics get better, I think it might automate some part of it from now, even like plumbing you guys just talked about, right?
	Like, well, they have a bunch of Chinese companies.
	Their product actually is in Miami right now.
	They work for like Amazon, like, I guess, fulfillment-type third-party companies to where they're learning how to do, you know, like physical labor.
	It might get to the point where, like, it's not that you won't need a plumber.
	It's like, how valuable is a licensed plumber going to be, right?
	So, you might have one plumber that could do the job of 10, like maybe 30 or 40 years from now, whereas you would might need, you know, a payroll of like maybe 10 plumbers to do that same job.
	I know it sounds fatalistic, but like, I've really thought about this.
	I even thought about becoming a plumber.
	I even secured an apprenticeship, you know, like two years ago.
	I just really thought about it.
	I was like, if you're in tech, why not learn something to help assist AI?
	Like, for example, I got friends that went to that again.
	I'm sorry.
	So, what about AI?
	Since you're in tech, right?
	Why didn't you go to the path of finding something to do with data centers or assisting AI moving forward?
	Yeah, so, okay, so here's my opinion, right?
	I've had the unique experience of being a senior at Microsoft and Google.
	I can, I guess, email you guys proof of that later.
	See, AI, see, technology usually enables a person to do a job for a company, correct?
	AI is enabling companies to do jobs for themselves.
	You don't need people or consultants anymore.
	Right now, people are consulting and I guess making money off of AI or the idea of AI, but the end goal is to just not have people.
	Like, I know big tech companies right now that are, they're not even employing Indians to do jobs overseas remotely anymore.
	They're, they're, that are educated.
	They're hiring Indians like off the street and just train them how to use Chat GPT.
	So, I, I, I just want to get the fuck out of IT.
	Like, it's look, it's a great job if you can maintain it.
	But the, I guess, like, the thing that no one wants to talk about, like, I'm 32, right?
	Anybody who's like maybe five to ten years older than me, what they don't want to admit is that AI is taking their jobs, man.
	I have a friend.
	He's a patent lawyer.
	He even is seeing softwares that's making it to where like patent attorneys do not want to hire other patent attorneys right now.
	What they're doing is that they want to hire paralegals who are registered patent agents, just teach them how to use the software.
	And then he himself, or maybe like a third-party consultant who is a patent lawyer, would then review it and then go forward.
	Obviously, you would need patent lawyers to go to trial and things like that, but it's about like, I guess, having less seven-figure patent lawyers on payroll and then making more money, right?
	Yeah.
	And again, and again, my mosque, I mean, it's like a religion drop or whatever.
	I have one of the top patent attorneys in the country.
	He owns.
	Even he is agreeing with me in terms of patenting.
	AI is like, it is alarmist, in my opinion, some of it, but a lot of it is also not like it's not fake, man.
	Like, if anybody's going to go to law school unless you go into one of the top ones, I wouldn't even go, bro.
	We were talking about that before we started recording.
	That'll be an easy thing for a large language model to figure out how to do better than a smart person.
	They can review everything that's ever been recorded as far as case law and your odds of winning.
	And you're not going to need a lawyer because you're going to have one lawyer who could do a job with 100 people because they have AI equipping them.
	Props to you for thinking this way.
	It makes a lot of people uncomfortable to discuss.
	Anything that is going to reveal that you're going to have less power.
	Yeah.
	Right.
	We just like to dismiss it, make a joke about it, write it off because it's uncomfortable to think about the fact that we may be helpless.
	No one likes to admit it.
	But I think that that's what the wise people are.
	They're swallowing that pill early.
	Yeah, I mean, it's not easy, but what are you going to do, man?
	A year ago, I literally had like a model girlfriend.
	I was living in Collins.
	It was amazing.
	And then boom, bro.
	Boom.
	So, what are you going to do?
	Keep fighting.
	Well, thank you guys for listening, bro.
	All right.
	No worries, man.
	Who's up next?
	Have a good day.
	All right, take it easy.
	We have, I just saw you.
	There you are.
	3240.
	You're up.
	3240.
	You are up.
	Hey, what's up, Mo?
	What's up, Bills?
	What's going on, guys?
	Yo.
	Yo, Ste PG, man.
	How's it going?
	Yep.
	What's up, man?
	Yeah, so nice to meet you, David.
	Nice.
	Thanks for being on.
	I just had a quick timing of the market kind of question.
	You guys were talking about how everything's kind of no one knows right now.
	So I own 15 acres of land back home in South Carolina in the countryside, and I'm thinking about building like a lifelong family home.
	I don't know if I should start the building process now with like the lumber costs and all of that thing, or do you guys think that's going to be coming down anytime soon with like the tariff situations, et cetera?
	Should I wait a couple more years before I build that?
	Or should I go ahead and jump on it now?
	What are you thinking?
	I don't think the price of materials is going to go down with the tariffs for sure.
	And then we know, you know, lumber, for example, went up after the conflict with Ukraine and Russia.
	So, I mean, I mean, waiting for the price to go down, I don't know if that's a viable option.
	What do you think, Dave?
	I think for the foreseeable future, the way we have always looked at stuff, there's no reason to think prices are coming down.
	The unforeseeable future, which is what we kind of been talking about on the show, we don't know how things are going to go.
	There may be robots that 3D print houses and the cost of labor comes way down and it takes way less time to build a house.
	And if that happens, the cost of housing will come down because we can build so many more of them.
	I'm preparing for that at some point.
	So I'm prioritizing the area that you buy in as opposed to the house itself.
	So if you could get something in a very desirable area that people want to live in, it doesn't matter if housing is cheaper because the land itself is going to be worth more.
	Something with a better view, something in an area near a beach, anywhere where human beings are want to live better weather, I'd prioritize that over a big, beautiful house in North Dakota somewhere that no one's going to want to be.
	Yeah, he's yeah, well, that's the thing.
	I'm not buying a house to like look to rent or anything in the future.
	This is going to be a family-owned home that is a last forever hundreds of years type of thing.
	That's the case.
	Yeah, if that's the case, bro.
	I don't see any reason to wait.
	Okay.
	Because you're not.
	Yeah, I was hesitating on pulling the trigger, waiting on some things to maybe change.
	But like you said, with the AI situation, that might be a thing.
	But I don't know if that's two years from now or 20 years from now.
	And, you know, it's around the corner, but no one really knows what the deal is.
	Yeah.
	And then the time that you waste.
	So, yeah, bro.
	I mean, I look at it like if you're going to buy that thing, because to me, it doesn't seem like you're buying it from an investment perspective.
	You're buying it more from a personal perspective.
	If that's the case, bro, then just, you know, just buy it because just get it done.
	Yeah, that's what I was thinking, too.
	I just, my hesitation, man, with all the stuff going on, that's what it is.
	I can't make the decision.
	I mean, think it over more, but like I said, you know, if your goal is to have it just be a family home and your goal isn't to like profit off of it or, you know, then there's no point to wait.
	Well, the only one thing that I am waiting on is my sister is most likely going to move into it.
	She's got three kids, a really young one, and then two teenagers, and they're probably going to end up taking it over and then so forth and so on.
	But she still owes money on her current house.
	Well, I think somewhere close to $200,000 she still owes on that.
	So I'm thinking of maybe getting that paid off first so that we can then sell that and use the money towards the new house.
	That's the only thing I'm really waiting on.
	And then I got prices.
	That'd be a way better move because why do you want to keep paying them more for a house you don't live in anymore?
	Yeah, exactly.
	So that's probably my first goal is to get her house paid on off.
	And then I'll look into building her a new house.
	There you go.
	WDPJ thing.
	I don't think that's a bad thing.
	Doing big things, bro.
	Shout out to you.
	Yeah.
	It's nice to hear someone that cares about his family's trying to do something to help out his nephews and his sister.
	All right.
	Oh, yeah, for sure.
	Cool.
	Take care, guys.
	Thanks, bro.
	Who's up next?
	He just donated right now.
	There you go.
	7672.
	You're up.
	7672.
	Hey, how's it going, guys?
	Can you hear me?
	Yep.
	Go ahead.
	Hey, there's a question from Myron.
	It's pretty much, I have a friend who's, he's like 19, 18, and he just told me that he was getting drafted.
	He's going to school to be a cop.
	So I figured he was in front of the list, right?
	Which is kind of worrying, you know, because the whole war with Iran and all that stuff.
	You never know what may happen.
	I doubt that your friend got drafted, bro.
	I heavily doubt your friend got drafted.
	I mean, I wouldn't believe, you know, I mean, that's what he told me.
	You know, I can't.
	But I was wondering if there's a way he could have done that.
	He might have signed a contract, but he didn't get drafted, bro.
	Okay.
	Because I'll be, if somebody gets drafted, that'll be like national news.
	Like, people are getting drafted.
	They're not going to secretely draft ATT.
	Yeah, they're not.
	Yeah.
	Your friend is either retarded or lying.
	I don't know.
	Maybe he used the wrong word or you understand it wrong.
	Or you misunderstood him, but he probably just signed a contract, bro.
	Okay.
	I was wondering, if somebody, let's say hypothetically, let's say he's lying, right?
	Somebody did get drafted, would they can they position themselves to be like a specialist instead of just going to the army or, you know, like go to a specific division or do you have to do that beforehand?
	Well, you got to, you got to, what you have to do is you have to like basically take, I don't know if they still call it the ASVAB, but you take that test and that kind of dictates which different MOSs you can, you know, join depending on how you score.
	So they give you a test to figure out what you're good at and then they stick you in the places they think you'll be good.
	Exactly.
	And you can request to where you're going.
	The higher you score, the more options you have.
	Yeah.
	Okay.
	All right.
	Thank you guys.
	No worries, man.
	What else?
	You guys are out here changing lives.
	People can get relief from the anxiety about their nephews.
	Yeah, bro.
	I mean, yeah, there's no drafts.
	I was like, what the hell?
	Okay.
	Next up.
	Plus, apparently there's a ceasefire, so we'll see what happens with that.
	Allegedly.
	Who's up next?
	We have 3719.
	You are up.
	3719.
	3719.
	Hey, guys, can you hear me?
	Yo, you guys can hear me?
	Yep.
	Yep, we got you.
	Hey, guys.
	What's going on, Myron?
	What's going on, Fresh?
	Hey, David Green, I got a question for you.
	Hey, I got a, I've got a mortgage at 3.25%, and my son just turned 18, and I want to eventually give the house to him.
	But is there a way I can do an assumption loan for him to take over the mortgage at the same rate that I have it currently?
	You got to ask the lender there.
	Usually they say no.
	But why would you need to do that?
	Why wouldn't you just have them pay you whatever the mortgage is and keep it in your name?
	Is it because you need to get more loans and it's affecting your credit?
	No, I just want to get away from under it because there's another piece of property I want to buy.
	And you can't get the loan for that one because this hurts your debt-to-income ratio.
	Right.
	And it's a chunk of property.
	It's 160 acres that I want to get.
	You can ask the lender that currently owns your loan through your servicing company if he can assume it.
	Does your son have like a credit history and a debt-to-income ratio?
	No, no, no.
	No, he's just turned 18. He's getting started.
	So I'm just wondering, I'm like looking at a couple of years down the line.
	It'd be different if he had money assets or whatever.
	He could qualify on his own.
	They may be like, yeah, we'll let him do it.
	Even then, they don't want to because they want you to pay off that loan so they can loan that money out at a higher rate than 3.25.
	So he probably won't be able to do that.
	You may need to get a co-signer on your next loan if that's where you're at.
	Okay.
	So what about if I do a FHA 203K to refinance?
	And the only reason I'm saying that is because I will want to remodel the house, but I'm just scared because the interest rate, I'm going to lose this 3.2K.
	Well, you're going to lose it if you refinance with an FHA 203K.
	Any cash out refi, you're going to get today's rate's not that 3.25.
	You could take a HELOC on it and keep your 325 and use that money from the HELOC to upgrade the property and keep it.
	And then you just got to pay off the money you borrowed on the HELOC because that'll be.
	That's like a separate loan on the side, right?
	Versus a cash out refi.
	Right.
	Yeah, dude.
	Yeah, I'm just trying to.
	Bro, don't refinance that three.
	When you said that, I was like, what the fuck?
	Like, dude, do not refinance that 3% rate.
	You're not going to get it.
	Yeah, you know, I'm getting bumped.
	You know, I'm up here in Idaho, and our values have just went through the roof.
	I bought the house at $300,000.
	It's worth $6.50 now.
	We're just getting an increase of people moving up here, and the values are – So, wait, wait, wait, wait, wait, wait, wait, wait, wait.
	Hold on.
	So you got, so it's worth, you bought it for $350,000 and it's worth $650 now?
	Yes.
	So what, you got like $300,000 equity, $400,000?
	Right.
	How much is the property that you're trying to buy?
	It's 390,460 acres.
	He wants to keep the one he has, though.
	Yeah, he doesn't want to sell.
	I want to give it to my son.
	Right.
	I want to gift it to my son.
	But he can do a heat back here.
	Yeah.
	Well, I left Cali in 2021, sold my house for a million, moved up to Idaho because I got out of California.
	No, no, that's not what I'm saying.
	If you have almost 400,000 equity, you have like almost 400,000 equity and the other property you're trying to buy is 400,000.
	I mean, it would suck because your HELOC payment is going to be high as hell.
	That's why I didn't say he should do that automatically because his HELOC payment will be higher than if he got a full mortgage and it'll be a 30-year fixed rate locked in.
	His HELOC will go.
	If rates go up again, his HELOC rate can go up.
	Wild.
	Yeah, you have what we call golden handcuffs, where it's like an awesome rate, but you can't do a whole lot with it.
	You don't have flexibility with that.
	So you're probably going to have to figure out a way to get a loan to buy your next property, which is you either make more money or you get someone to co-sign for it.
	We could look into that for you.
	And then your son's going to make a payment to you or he's making the payment for you so you can keep that rate if you want him to live in that house.
	Okay.
	What's your contact information, David?
	You can find us intake at theonebrokers.com or you could just go to davidgreen24.com.
	There's a chat button on there and you could just message me and then after the show, I'll get your info and I'll connect you to the right person to go over your options in more detail.
	Boom.
	DavidGreen24.com.
	No worries, bro.
	We got you, man.
	Cool.
	Thanks.
	It's Myron.
	Thanks, Fresh.
	No problem, man.
	You're one of the best guys to ask.
	That's like the best caller we've had this whole time.
	Everybody be like that.
	That's your ideal call-in person.
	Yep.
	That was a very good question.
	Very detailed.
	Well, very specific, which is good.
	Who's up next?
	Next up, we have.
	9263, you are up.
	9263.
	Hi.
	So, yeah, I just want to say, yeah, I'm a computer major.
	Computer engineering major.
	Sorry.
	Computer engineering major.
	And I'm just wondering, I'm entering my junior year in college, and I was just wondering, what should I do concerning skills I should learn?
	Like to maybe do something on the side or to do something to have not just more money, but to have like a blue collar trade.
	That's what I would say.
	Obviously, you got your tech.
	You're doing computer science or you're doing something computers.
	That's all good.
	But also go ahead and get a blue-collar trade to diversify your ability to enter the workforce from different angles if something doesn't pan out.
	Yeah, also in tech, job security is going to be hard to come by nowadays, but cybersecurity is a demand, is that an all-time demand still.
	So cybersecurity is what you should get into, I would say, to have longevity.
	But then again, a blue-collar job would help as well.
	Okay, so to be honest, when you mean blue-collar drugs, you mean like plumbing or any treatment?
	Plumbing, electrician.
	Any treaty that you can, bro.
	You know, power limb and HVAC.
	Basically things that AI can't replace for now.
	Picture a 22-year-old person living in their house and the power goes out and they don't know how to flip a circuit breaker or there's a leak or the HVAC doesn't work and they don't know what to do and they Google, I need a person to fix this.
	You want to be that person whose name shows up when they do that because that's the majority of the country right now.
	Okay.
	You don't want to Have to be an Uber driver or be a DoorDash person because some Waymo is going to take that job and they're going to go drop off people's food.
	It has to be a thing that a human brain has to be able to solve and a human body has to be able to execute on fixing.
	Okay.
	All right.
	Cool.
	Thank you.
	All right.
	Who's up next?
	And it's already 9.30, so we'll get wrapping up here very soon, guys.
	We've been on for about an hour and a half now.
	So what's up next?
	We have 8910.
	You are up.
	All right.
	8910.
	Go ahead.
	Hey, guys.
	This is Marvin.
	How are you?
	Yo.
	Doing good, man.
	What's up?
	Good, good.
	Yeah, so I got my dream job working in corporate, but it turned out to be a nightmare, and I hate my job.
	My company is sneakingly laying off people, and I know this, and I'm doing all that I can to climb over my colleagues in order to save myself.
	I know it's not the greatest thing or the most righteous thing, but I'm doing it to stay alive.
	But one way that I want to get out of this corporate job in this rat race is liquidate credit cards to buy a home and investment property.
	I'm leveraging my brother and my mom's credit card scores and what we're able to pull from everyone's credit and buy investment property.
	I have the cash in hand, but I don't want to use my cash.
	I want to use other people's cash.
	So I just wanted to get your idea on different ways on how I could liquidate these credit cards.
	You said you already have the cash in hand, but it's your cash?
	Yeah, so I already have 100K, right?
	But I don't want to spend my own money because I want to be able to invest in other areas.
	So I want to get a 0% APR credit card for a long period of time and buy a house with that money.
	So the thing is, bro, is you're only going to be able to liquidate credit cards to a certain point, right?
	Like you won't be able to liquidate like that much money where your entire down payment is going to be...
	Are you going to buy the house with, you know, with an FHA loan?
	Are you going to buy it as an investor?
	So my plan was to possibly live in it for a year and take advantage of an FHA loan, and buy multiple homes with this $100,000 credit.
	Well, you're probably going to only be able to do, it's very difficult to have multiple houses under contract at the same time.
	It's also difficult to buy multiple houses with $100,000.
	Yeah.
	Are you new to real estate?
	Like, is this a new thing you're just kind of checking out?
	No, so I currently have one investment property now, and I want to build my portfolio.
	And I have half with my brother.
	Where do you live?
	Dallas, Texas.
	Yeah, with $100,000, bro, you're not going to really, you'll get maybe one house with that.
	I mean, unless you're going to do FHA loan.
	I'm assuming the other house you have, you don't live in it, right?
	You just rent it out?
	Correct.
	Also, bro, when you go through this row of using credit cards, you got to pay it back still, though.
	Yep.
	So it's kind of like, yeah, it sounds like you're saying you don't want to lose your own money.
	You want to lose your family members' money.
	Yeah, you have a grace period.
	No, no, no, no, no.
	So I want to leverage this 12-month period of 0% APR.
	And because I already have this money, I'm confident that within after 12 months from now, I'll have that money to pay that off and not incur that high interest rate payment.
	Yeah, how are you going to get that money?
	Like, you're going to save it?
	Yeah, correct.
	So I'll save it and I'll invest what I have now to get at least 15% back.
	So why wouldn't you just save the money and invest in a year when you have it instead of buying it at a high rate, risking it?
	Then you got to get a loan for the 80% that you're going to put on the house and 20% comes from the credit card.
	Are you just anxious to want to get started?
	Or do you think that prices are going up in the future?
	Yeah, so I don't want other opportunities to slip away.
	I already see a lot of good opportunities and I'm beginning the journey of opening these credit cards and hopefully liquidating them.
	Well, my question why I'm calling is just to ask you guys, if I were to liquidate a credit card, how could I do it?
	I mean, you call the credit card company and tell them you want to take out a loan or you want to maximize it and use it to buy a house.
	I just can't tell you in good conscience that that's a good idea.
	I don't think you should be using credit cards to buy a house.
	The only people I would ever say should even think about this are people that have a lot of houses, have done this for a long time, and are not likely to get caught with anything they're not expecting.
	And I still wouldn't tell them to do that right now where there's so much uncertainty in the economy and where jobs are going to come from.
	And like there's some markets where we already are expecting to start to see crashes in prices, right?
	You go and you do this and you buy a house and that market ends up being one of the ones that crashes.
	And now you just lost all your family's money and you trash your credit and you got to pay these credit card companies back.
	With interest after a year.
	Yeah, just this is not the time to be taking risks like that.
	Okay.
	Just give yourself take all that desire you have to get ahead and be ambitious and put it into working and saving your money.
	Okay.
	Yeah, I mean, I'll look at different areas, but that's good feedback.
	It doesn't make sense for you to liquidate a card, pay a lot of interest on it, and then pay that back in a year when you could just save the money in a year and not have to have all the risk.
	Well, my plan is to pay before that interest kicks in.
	And I'm 100% positive that I'll have that money ready.
	Did you hear this from an influencer selling courses on how to buy houses with no money?
	No.
	No, no.
	Sounds like it.
	Okay.
	Was it a YouTube?
	No, but I mean, I have heard it online, but other people that I know are doing it, but the route that they're doing it doesn't seem safe or legit.
	So I was curious if there was other routes to do it.
	There is no safer or legit way to borrow money on a credit card for a down payment to then borrow money from a bank for the rest of the payment and then have to save a bunch of money to pay all that money back in the environment where real estate is an uphill battle more than it's been in the last decade.
	I just, I don't want to shit on your dreams here, my man, but it is okay to wait and maybe the price of homes crashes and then you can go buy one for 5% down and the price drops to 300,000 and you can buy a house for 15 grand and just rent the rooms out to other people and kind of start slow and safe.
	Yeah.
	Okay.
	Keep paying attention, though, to like learning about real estate.
	Listen to podcasts, read books, educate yourself while you're waiting and that'll kind of help you scratch the itch of feeling like you need to do something.
	Check out my show, The David Green Show, completely free.
	You don't have to liquidate a credit card to learn about it.
	Yeah.
	Okay.
	Very good.
	All right.
	All right, man.
	We'll do like two more and then it'll open up.
	Okay.
	Next, we have 7024.
	You're up.
	7024.
	Hello?
	Yeah, hello.
	Hi, can you guys hear me?
	Yeah.
	Hey, man, how you guys doing?
	Doing all right, bro.
	What's question?
	Yeah, shout out to you, Fresh.
	I just wanted to give you guys a big thank you for everything you guys have been doing over the past five years now.
	Most importantly, I'm going to thank you guys for actually teaching me not to be a role model to my little brother, you know?
	Because me myself, I've always been like a minimalist, but I've always been focusing myself.
	Like I'm 27 years old.
	I have two food trucks.
	I have a duplex and I have a multi-communicable home in University.
	Nice.
	But I've never been that type of person where I was able to, like, I've always been a good student, but never a good teacher.
	And that was something that you guys taught me and how to, you know, influence my little brother from doing that because he's been on the TikTok to Instagram.
	He's 19 years old.
	I remember when he graduated high school, he wanted to go straight up to college and do something at Ohio State University by which he was trying to chase some liberal arts degree.
	But at the same time, I realized that my mother didn't have the money to pay for it.
	And everybody was looking at me to pay for it.
	But you know how it is when you're.
	Bro, your mic is kind of too loud.
	Do you have a question?
	Yeah, I just wanted to thank you guys.
	That's all I wanted to do.
	Thank you guys for teaching how to and touch my little brother how to focus on the right things.
	That's all.
	All right.
	Shout out to you, bro.
	Love your brother.
	And we'll tell next time.
	You should get somebody on here that has a food truck.
	I'll be curious what the finances work like on those.
	Oh, we had a girl that was doing food trucks, vegan food trucks.
	Did pretty well for herself, six figures a year.
	You get very low overhead.
	Yeah.
	Low amount of items.
	You probably won't waste a lot of food.
	On the truck, it's kind of like...
	And you could probably use money to buy the truck.
	You could get like an SPA loan, I bet you, that you could buy the truck and the equipment to start with.
	It's like a good owner-operator way to learn business.
	Food truck.
	Yeah.
	We should, actually.
	All right.
	And then last caller, Amo?
	All right.
	3057, you're up.
	3057, you're up.
	Hey guys, what's up?
	My question here is for Mr. Green.
	I live in Canada, making around 100K a year Canadian and looking to buy property in the US and rent it out.
	So my question is, is it a good idea to do that?
	And if yes, is Michigan a good place to start with?
	Michigan.
	Yeah, it's a good.
	A lot of Canadians are investing in the U.S. right now because the Canadian economy is terrible.
	Makes sense.
	It doesn't get it.
	Real estate is way worse for them, too.
	Yeah.
	And so is their overall prospects to build wealth.
	Their taxes are crazy high.
	They don't have a lot of opportunity.
	So we can do loans for you as a Canadian citizen to buy in America.
	The down payment is a little bit higher, but it's not ridiculous.
	It's not like other countries where you got to put like 50% down and pay the money back in five years or anything.
	As far as where to invest, I would recommend the Midwest.
	So the last five years, you see markets that were crazy hot was like, what's cool?
	Everybody wanted to be where the pretty girls were, where the good weather was, where the big jobs were.
	South Florida, Texas.
	That's it.
	And what's the markets that are getting destroyed right now?
	Yeah.
	Right?
	South Florida, Texas, because people are leaving correctly.
	Yeah, it's a big correction.
	That's exactly right.
	So now, rather than people looking for where's the prettiest girls in the warmest weather, they're saying where's the cheapest gas and the cheapest food and the cheapest rent.
	And I think that's going to be the Midwest.
	I think that's your best bet if you want to see a safe environment for the future.
	It's going to be people are going to be asking, where is the cost of living low?
	We used to laugh at the people.
	I think Michigan's a good prospect, though.
	I've heard a lot of people complain and say Michigan's one of the worst.
	What did they say about it?
	They said, well, Detroit specifically that the landlord laws aren't really good.
	There's a lot of squatting ordinances out there that let people just squat on your property, shit like that.
	I don't know.
	Maybe.
	I think if you invest in one of those cities, you're right, Mario Black.
	When I did my research, they told Michigan it's not the best when it comes to the people living there.
	But Michigan is one of the areas that have the most, I would say, payback.
	So my mortgage would be the lower.
	Yeah, I mean, again, I'm looking at Detroit.
	I was talking about Detroit in particular.
	I'm sure there's places in Michigan that are fantastic.
	But I was talking about Detroit.
	That's a good point.
	In my head, I'm thinking of like the Upper Peninsula, like Grand Rapids.
	I would not go anywhere near Detroit, especially if we're going into a downside.
	But are you thinking of Michigan just because it's close to Canada and you live in Canada?
	Is that why you thought that way?
	No, not actually, because I have an aunt there that lives in Michigan.
	And because, again, the houses prices are lower, but relatively the rent is higher.
	Yeah, I would also say if you're going to do that.
	I'm going to get a lot of money out of the rent.
	Yeah, I know what you're saying.
	The price rent ratio is solid.
	Look for something that you can do Section 8 that's not a terrible area because if people lose Their jobs, the government's still likely to be paying Section 8 housing vouchers.
	In fact, I wouldn't be surprised if we see a massive increase in Section 8 if a lot of people lose their jobs.
	If just they offer it to work, I hate Section 8, but if you're in a market where the rents are more stable, where they're not paying a portion, Section 8's fine.
	Like, it's only when I noticed when they got it because when I bought my property here in Miami, the Section 8 wasn't caught up to the rent, so they had to pay a portion.
	So they had to pay a portion of Section 8 to make up for the difference.
	And the problem with Section 8 people is they're irresponsible retards, and they don't pay their portion.
	So half of the rent never gets paid.
	Yeah.
	Or like, yeah, it was like an extra $200 or $300.
	And like, I'll let it slap like a month or two.
	And then I'm like, bro, they're going to just keep doing this shit where they don't pay their full rent.
	So I would say Section 8 works if the government's covering like 90 to 100% of it.
	But if they got a lot of rent.
	And you're in a good area.
	And you're a good area.
	That's the other thing.
	Section 8 can work in good areas.
	Yeah.
	But don't go into a terrible neighborhood just because you think the price to rent ratio is good.
	But if they're paying a portion of it, like let's say, yeah, then it's an L, bro.
	Because people, they're on Section 8 because they're not responsible in the first place.
	So that makes total sense.
	My last question would be, would you advise going for like a duplex, three plus, or just a single-family home?
	And what should be the price range?
	The more doors, the better.
	To how much I get paid.
	More doors, the better.
	More doors, the better.
	You may have higher down payments on those.
	Do you have enough money to put a down payment on a multifamily property?
	Oh, and I guess you're buying this as an investment property, so it'll be the same.
	Yeah.
	More doors is better.
	The more revenue you can bring in, the more you prioritize that property.
	My downstamin would be from 20 to 30. Would that be enough or still too low?
	Well, if you're a foreign national, you might be in the 30 to 40% range for a down payment.
	I'm just saying it doesn't matter if it's multifamily or not, if you have to put that much down.
	You just, you want more doors, higher rents in the best part of town you can get into.
	Yeah, and if you're going to buy as an investor, I actually argue that you want as many doors as possible if you're buying as an investor.
	Because you want to get the most bang for your buck.
	Yeah, to cover the cost.
	Yeah.
	Yeah.
	So that, because if you're buying as an investor, you're pointing 20, 25% down.
	You need to be fucking cash flowing, bro.
	So, and the best way to ensure that you're cash flowing is having multiple tenants.
	Because if one leaves, you have others.
	Exactly.
	All right, man.
	That makes a lot of sense.
	Thank you very much, guys.
	All right.
	No worries.
	Any chats at all, Bill's in Mo?
	Yep.
	Yep.
	All right.
	And then, David, where do you can find you right after?
	Jet Black.
	I'm exploring entries into Section 8 real estate.
	I'm considering starting in Ohio due to lower cost of entry.
	Even with current rates, what are your thoughts?
	Section 8 real estate.
	I don't love Ohio because the cost of entry is lower.
	I like Ohio because I think a lot of people are moving into Ohio because the cost of living is less.
	Yeah.
	And so you want to go where the people are moving to.
	You want to go where jobs are moving to and where the population is moving to.
	Right now, Ohio is a solid bet.
	So I like it for that reason.
	I don't like when people say I want to go wherever it's cheapest because it's usually cheap for a reason.
	Also, when scaling to something like 24 properties, like Myron, how is the financial structure typically set up?
	Does each LLC slash property have its own payment card or is income funneled to a central account?
	The way I do it is I have, personally, I have like a holding company and then I turn each house into its own LLC and then that holding company, I have a credit card for that holding company.
	I spend all my real estate on there.
	That's how I personally do it.
	You have one bank account that all the rent goes into, right?
	Per house.
	Oh, every house has its own account.
	Every house is its own bank account.
	That was a fucking pain in the ass, bro, setting it up.
	But yeah.
	But I have one credit card that I use for all my real estate expenses that's tied to the holding company.
	And then each house has its own LLC.
	And then each of those LLCs.
	Yeah.
	Yeah.
	It has a bank account for each house.
	So I got like 25 bank accounts, one per house, and the money goes into each of those.
	That's how I do it.
	That's the best way to do it.
	It's a pain in the ass.
	It's going to take some time to structure, but that's how I do it.
	Well, how do you do it, Dave?
	Do you have to do it a different way?
	I don't have a separate bank account for every house just because I should.
	Yeah.
	It's a pain in the ass.
	Yeah, I don't blame you.
	I've got that much pain.
	It's a big pain.
	Great advice, fellas.
	Much appreciated.
	I'm hoping to meet you guys in person next April in Miami.
	Shout out to you, Mario.
	Next April?
	For what?
	Oh, OSS.
	Okay, yeah, yeah.
	I see what you mean.
	That's all I mean.
	The first night I'll be there.
	Unless he wants to come.
	No, Nigga, I'm going to go.
	Okay.
	Raj.
	WF and I've been waiting for this episode.
	No worries.
	Raj?
	There we go.
	Real estate YouTubers in the fucking house here with Dave Green.
	Happy to have him.
	What is cash on cash return?
	Cash cash return basically is the amount of money that you earn based on the cash you actually put into the deal.
	So if you put, you know, let's say $100,000 into the deal and you make $1,000 a month, that's a 12% cash on cash return because you made $12,000 that year.
	So if you're making $1,000 a month.
	So you put $100,000 in cash, you make $1,000 a month.
	For the year, you made 12% cash on cash, which is really good, by the way.
	Chris Crohn said on here a while ago to buy multifamily with three bedroom, two bath or three bedroom, three bath.
	Personal recommendation, what's your thoughts on that, David Amir?
	I mean, single-family home, bro.
	Everyone has their own thing.
	You got Grant Cardone, 32 units or more.
	You got Chris Crohn saying, you know, three bedroom, two bath, you know, the starter family home.
	There's really no wrong way.
	There's different strategies depending on what you want to do.
	So, I mean, neither of them is wrong.
	Obviously, for Grant Cardone, you're going to need significantly more fucking capital to be picking up 32 unit houses.
	But, I mean, what do you think, Dave?
	It sounds like he was saying by apartment complexes.
	That's what they meant by multifamily with three bedrooms because he was warning, hey, people are going to have a hard time paying their rents.
	So get more rooms per apartment.
	Chris Crohn.
	Yes.
	Chris Crohn is big on single families.
	Well, they said multifamily.
	Do you think they meant like three or four units?
	He probably missed.
	They don't build a lot of like triplexes that have three beds and three bathrooms in each unit.
	And the only reason I'm even saying that is because I know Chris Crohn, we've had him on before.
	He's real big on single family homes.
	Yeah, he is.
	So that's why he's a lot of people.
	I don't think you're going to find a whole lot of duplexes that have three beds, three baths.
	That's super rare.
	I think I got like one, and that's hard to find, bro.
	Well, there's a Zoom call on Castle Club that he spoke about this in detail on the membership.
	Oh, okay.
	Yeah.
	So go watch that if you're on Castle Club, bro.
	What else do we got here?
	One of my online fitness clients has five food trucks in Chicago.
	Have that caller contact me, IG.
	All right, one chess.
	Okay, Zoom.
	there you go.
	Anything else?
	That's it.
	All right, guys.
	I hope you guys enjoyed the stream, man.
	You know, this is a great one.
	A lot of good questions that were asked.
	We're going to be back with some lovely ladies here in about, I think we're going to start probably around 10:30 or 11. And Zirka.
	And Zerka will be here.
	And, guys, by the way, the crypto course closes at midnight tonight.
	This is the last time you can get in.
	Is it tonight?
	Tonight's the last day.
	Yep.
	And closing.
	All right.
	Get in, niggas.
	And they're going to do Zoom calls, I think, next week.
	Okay.
	Get in while you still can.
	Yeah, get in while you guys can then.
	And Dave, where can you find you, bro?
	They can follow me on the David Green show on YouTube, Apple, or Spotify, or they can follow me on Instagram at DavidGreen24.
	All right.
	Boom.
	Check him out.
	And we'll have Dave do a Zoom call with you guys as well this week or something like that because a lot of you guys have some pretty detailed questions.
	And, you know, obviously, Dave's a unique position because he's not just a real estate investor.
	He gives out loans, man.
	Like, he's got a whole company that helps out with loans.
	He locks cash out refinances.
	So he's able to give an even deeper insight into the process of getting money to purchase assets.
	So, you know, the fact that you can lend out loans to foreign nationals in itself is awesome.
	And good thing is he's not Jewish.
	There you go.
	What, nigga?
	He's not.
	I run so far away.
	I don't run.

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