Latest / The Steve Harvey Morning Show / You can Buy back your neighborhood block with a plan; athletes are getting paid with NIL deals and financial literacy with Randy Louis.

Transcript

You can Buy back your neighborhood block with a plan; athletes are getting paid with NIL deals and financial literacy with Randy Louis. · The Steve Harvey Morning Show

0:05
Speaker 1: Welcome to Money Making Conversations.
0:06
Speaker 2: It's the show that she has the secrets of success
0:08
Speaker 2: experience firsthand by Marketing and Brandon expert Rashan McDonald. I
0:12
Speaker 2: will know he's giving me advice on many occasions. And
0:14
Speaker 2: in case you didn't notice, I'm not broke. You know
0:17
Speaker 2: he'll be interview with celebrity CEOs, entrepreneurs and industry decision
0:21
Speaker 2: make because it's what he likes to do, it's what
0:23
Speaker 2: he likes to share. Now it's time to hear from
0:25
Speaker 2: my man, Rashan McDonald money Making Conversations.
0:29
Speaker 1: Here we go. You know, how are you doing? This
0:31
Speaker 1: is Rashan McDonald and welcome to my show. And my
0:34
Speaker 1: show is Money Making Conversation Masterclass. The interviews and information
0:39
Speaker 1: that this show provides are for everyone. I tell you
0:42
Speaker 1: every week it's time to start reading other people's success
0:44
Speaker 1: stories and start living your own. My guest today is
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Speaker 1: a trusted real estate advisor. He is dedicated to the
0:51
Speaker 1: movement of buying back the block and providing financial literacy
0:55
Speaker 1: for generational wealth. Please welcome to Money Making Conversation Masterclass.
0:59
Speaker 1: Randy Lewis, how you doing? Randy?
1:02
Speaker 3: Hey, ry Sean, how you doing?
1:03
Speaker 4: What?
1:04
Speaker 1: Part of the country. Are you calling from.
1:06
Speaker 3: I'm calling from Washington, d c OH.
1:08
Speaker 1: I got a brother there. He owns you know, he's
1:11
Speaker 1: a former military army GAI and they got out of
1:14
Speaker 1: the army and got three barber shops and a braide
1:20
Speaker 1: shop down there. So he's doing well down there. So
1:22
Speaker 1: hopefully you're doing just as well in the in the
1:25
Speaker 1: DC area as well, my friend, are.
1:26
Speaker 3: You yes, sir? You know, blessed to be able to
1:29
Speaker 3: be in this position and not just being able to,
1:33
Speaker 3: you know, get some income flowing, but also educating our people.
1:37
Speaker 1: You know, you're a former college athlete. Which school did
1:39
Speaker 1: you go to?
1:41
Speaker 3: So? I played at Youngstown State University in Ohio in
1:44
Speaker 3: the FCS Conference, and then I also played at Indiana
1:49
Speaker 3: University of Pasylvania. I had an extra year of eligibility,
1:52
Speaker 3: so they pay for my masters.
1:54
Speaker 1: Now I asked that question because now when you probably played.
1:59
Speaker 1: When I went to college, the word nil did not exist.
2:02
Speaker 1: If you don't know what nil, that means name, image,
2:05
Speaker 1: and likeness. And I went through school with Clyde Drexler,
2:08
Speaker 1: went to school with King Logan and all these people,
2:11
Speaker 1: you know, they just had to operate off their college scholarships.
2:15
Speaker 1: Now you can get paid off your name, image and likeness.
2:18
Speaker 1: What can you are you involved in name illagine likeness
2:22
Speaker 1: when you're talking about generational wealth of financial literacy?
2:26
Speaker 3: Absolutely, So yeah, this is a brand new concept. It's
2:30
Speaker 3: very new. When I was in college, you know, I
2:32
Speaker 3: was blessed to have a full scholarship, but you know
2:35
Speaker 3: that was pretty much it, you know, people taking out loans.
2:39
Speaker 3: But now with the name, image and likeness, these college
2:43
Speaker 3: athletes and high school athletes as well, are able to
2:46
Speaker 3: you know, make money off their name, image and likeness.
2:49
Speaker 3: And so I found an opportunity to as I work
2:54
Speaker 3: with athletes, to create a program where we're educating these
2:59
Speaker 3: young athletes on how they can let their money work
3:02
Speaker 3: for themselves because a lot of times, you know, in
3:04
Speaker 3: these industries, you know, these people get the money, they're
3:07
Speaker 3: not educated. You know, they're buying chains, cars, they're not
3:11
Speaker 3: buying assets. And so my goal has been to educate
3:15
Speaker 3: them on ways where they can you know, purchase real
3:18
Speaker 3: estate and set themselves up really for success to where
3:22
Speaker 3: you know, if they don't make it to the NFL,
3:24
Speaker 3: or even if they make it to the NFL or NBA,
3:26
Speaker 3: you know, they are educated, their money's growing, and you know,
3:29
Speaker 3: they're not going broke like these stories that were here
3:33
Speaker 3: pretty often.
3:34
Speaker 1: Yeah, when it comes to athletes. You know, the interesting
3:36
Speaker 1: thing about it, and just to just continue down is name,
3:39
Speaker 1: image and likeness, because it really is huge. The Nebraska
3:43
Speaker 1: coach Matt Rule, he said, the going rate for starting
3:50
Speaker 1: college quarterback in Power five is one point five million dollars.
3:55
Speaker 1: That's that's that's what they're paying these college students. Now
3:58
Speaker 1: we're not even in the NFL yet, we're not in
4:00
Speaker 1: the NBA yet or Major League Baseball, but the college
4:04
Speaker 1: football which is driving this and the whole process in there.
4:08
Speaker 1: So help me with that whole conversation is that is
4:11
Speaker 1: that you know you can be in high school. Does
4:14
Speaker 1: high school kids get to participate in n IL is
4:17
Speaker 1: only when they graduate from high school because a lot
4:20
Speaker 1: of kids are exiting high school early to get paid.
4:24
Speaker 3: Correct, correct, And it just depends what states you're in.
4:29
Speaker 3: So I'm in here in d C. But as you
4:31
Speaker 3: may know, you know, we call the dmv DC Maryland Virginia,
4:34
Speaker 3: and so Maryland is one of the few states that's
4:37
Speaker 3: actually passed the law where high school kids can actually
4:41
Speaker 3: you know, earn money off their name, image and likeness.
4:44
Speaker 3: So you know, we have some kids who are you know,
4:47
Speaker 3: getting close to one hundred thousand dollars a year and
4:50
Speaker 3: you know, you know, for their name, image and likeness.
4:54
Speaker 3: So yeah, as early as high school, these kids are
4:57
Speaker 3: starting to get money. And it's not always just money.
5:00
Speaker 3: You know, it could be closing cars, you know, cars,
5:04
Speaker 3: you know, different things. But you know these kids nowadays,
5:07
Speaker 3: it's just a whole new era.
5:09
Speaker 1: Well, you know, it's important that you know, getting a
5:12
Speaker 1: car comes taxes, and that's where you come in, you know,
5:15
Speaker 1: because that's when they run into financial problem. It is
5:18
Speaker 1: that this deal that you may have gotten in a
5:20
Speaker 1: contract you signed, because there have been some scam type
5:22
Speaker 1: contracts even though they're supposed to be tied to legitimate
5:26
Speaker 1: NL deals. It's important to always have the right people
5:29
Speaker 1: looking at your paperwork because I'm just talking to parents
5:32
Speaker 1: right now, Randy. Because you know, it used to be
5:35
Speaker 1: the big game was to make it to the pros.
5:37
Speaker 1: Not a big game really is to be good in
5:39
Speaker 1: high school because you can get paid. Now the game
5:41
Speaker 1: is just to get to college and don't even worry
5:43
Speaker 1: about the scholarship. You can get paid because the scholarship
5:46
Speaker 1: is coming nowhere near what you're making, and some of
5:49
Speaker 1: these colleges they're paying average the offensive line starting office
5:54
Speaker 1: linemen to get like anywhere from fifty thousand to seventy
5:57
Speaker 1: five thousand dollars a year just for are on a
6:01
Speaker 1: good football team. So it really is a process of
6:06
Speaker 1: how you have to really set your child down, your
6:09
Speaker 1: children down, depending on how many people are talenting your family,
6:12
Speaker 1: and look at it from a different perspective, because there
6:14
Speaker 1: used to be then game you had to make it
6:16
Speaker 1: to the pros. But that's not the case anymore, is it.
6:19
Speaker 3: Randy, It's definitely nine. You definitely hit it on the
6:23
Speaker 3: nail because for us, it's our approaches to talk to
6:25
Speaker 3: the parents first, because a lot of these kids rely
6:28
Speaker 3: on their parents, and you know, a lot of times
6:30
Speaker 3: these parents aren't necessarily educated and so you know, and
6:34
Speaker 3: they're the ones pushing the kids. Okay, when you make
6:36
Speaker 3: to leave, we got buy me a house and do
6:39
Speaker 3: these kinds of things. So yeah, we're really just trying
6:42
Speaker 3: to educate these kids. As you mentioned, they're making a
6:45
Speaker 3: lot of money just for being on you know, the
6:49
Speaker 3: starting roster, but not only that, their incentives as well.
6:52
Speaker 3: So if they play well, you know, they may get
6:55
Speaker 3: more money. And you know, it's just a lot of
6:57
Speaker 3: times nowadays, some of these kids, it's more advantage for
7:00
Speaker 3: the stay in college as opposed to go to the NFL.
7:03
Speaker 1: You know, it's really if it's something that's been trending
7:06
Speaker 1: the last three days, is Dion Sanders kids. Okay, if
7:11
Speaker 1: you just type in Dan Sanders if you're near a
7:14
Speaker 1: computer on your cell phone. Kids. They didn't buy him
7:17
Speaker 1: a house, and these kids are all in college now
7:21
Speaker 1: in ourl deals. They bought him a mansion. Bought him
7:26
Speaker 1: a mansion. That's how much money is being distributed to
7:30
Speaker 1: kids in college that they that his kids can buy
7:35
Speaker 1: him a mansion and not even sweated, not even swe
7:40
Speaker 1: When I saw the picture of the kids, none of
7:42
Speaker 1: them looked like they were struggling when they when they
7:44
Speaker 1: when they were telling Dad this is yours, like they
7:46
Speaker 1: pulled the last dime out of their pocket to put
7:48
Speaker 1: him in his mansion. But that's the world that we
7:51
Speaker 1: live in today, and that's the world we have to
7:53
Speaker 1: understand is available to talented young athletes who used to
7:58
Speaker 1: be you know, you know, because you have you know, pros,
8:01
Speaker 1: you have the G League, and if you're in basketball,
8:03
Speaker 1: you don't have to go to college anymore, just go
8:05
Speaker 1: to the G League. It's just the game has changed
8:07
Speaker 1: so much when you was in college. Do you shake
8:10
Speaker 1: your head with all this money running around now Randy
8:13
Speaker 1: versus when you was at Youngstown?
8:17
Speaker 3: Absolutely, And you know Youngstown we're Division one, We're a
8:20
Speaker 3: little smaller, but Youngstown is like a big football town.
8:23
Speaker 3: And you know, I have some of my old teammates
8:25
Speaker 3: that are coaching there, and those kids are still getting paid,
8:29
Speaker 3: you know, a good amount of money. And I'm just
8:31
Speaker 3: looking like, man, you know, had I been there around
8:35
Speaker 3: that time, you know, I just imagine what I would
8:38
Speaker 3: have done with the money. But the reality of it
8:40
Speaker 3: is I might not have been educated enough, and so
8:43
Speaker 3: I might have just been blowing my money. Because we
8:45
Speaker 3: did get some money, and you know, we spend that
8:47
Speaker 3: within like two three weeks. So you know, while you're
8:50
Speaker 3: getting the money, just as quick as that money can go,
8:53
Speaker 3: it can come in, it can go. So you know,
8:55
Speaker 3: it's important that they're not just getting the money, but
8:57
Speaker 3: they're sustaining in it, and you know, taking advance of
9:00
Speaker 3: that opportunity.
9:01
Speaker 1: H Well, let's educate our audience about who you are,
9:04
Speaker 1: you know, to be a financial expert, be a guy
9:06
Speaker 1: who's out there making these wise decisions for people when
9:09
Speaker 1: they ask them for that type of advice. Tell me
9:11
Speaker 1: your academic background and your experience that allows you to
9:13
Speaker 1: be able to communicate with people about financial literacy.
9:18
Speaker 3: Yeah, so I got a business. I got a bachelor's
9:23
Speaker 3: in administration and business at Youngstown State University, one of
9:26
Speaker 3: the top business programs, and then I had an extra
9:30
Speaker 3: year of eligibility left, so I went to school called
9:33
Speaker 3: IUP Indiana University of Tennsylvania, and I earned a master's
9:37
Speaker 3: and employment and labor relations. So once I was done
9:41
Speaker 3: with that, I moved back to the area and I
9:43
Speaker 3: worked in HR for eight years. I was actually thirty
9:46
Speaker 3: under thirty by Sharham, which is the largest HR association.
9:51
Speaker 3: And you know, through my educational background, my work experience,
9:55
Speaker 3: you know, I worked a lot with just recruiting, benefits, compensation,
10:00
Speaker 3: employment law, labor relations, workforce development, organization development. But I
10:06
Speaker 3: also was a dual career, so I was in real
10:08
Speaker 3: estate as well. So I purchased my first multi family
10:12
Speaker 3: unit building in twenty sixteen, and I went through the
10:15
Speaker 3: program called NACA and NAKA really allowed me to fully
10:19
Speaker 3: understand what all goes into budgeting and purchasing a home.
10:24
Speaker 3: At the end of NACA, I was able to purchase
10:26
Speaker 3: a multi family unit building with no money down. I'm
10:30
Speaker 3: not gonna say no money down, but I put about
10:32
Speaker 3: two thousand dollars down at closing, and I got income
10:36
Speaker 3: generating property where I lived in one unit, I lived
10:38
Speaker 3: run free, and then my other three units. You know,
10:41
Speaker 3: I had tenants in there of cash flow, and then
10:44
Speaker 3: from there it just kind of propelled. I would teach
10:47
Speaker 3: other people. My cousin bought a four unit a few
10:51
Speaker 3: months after I did on my same block, and then
10:55
Speaker 3: my best friend a few months after that on my
10:57
Speaker 3: same block. And then I started educating people, and you know,
11:00
Speaker 3: that's how my movement Block Shoppers came about. And so
11:03
Speaker 3: from then on, you know, we've just been educating people
11:07
Speaker 3: on you know, different ways to build wealth, especially through
11:09
Speaker 3: real estate, and you know, it just become a pretty
11:13
Speaker 3: big movement.
11:13
Speaker 1: And that's when we met. We met at a KNACA event.
11:16
Speaker 3: Correct, Yes, Achieve the Dream event in La I was
11:20
Speaker 3: actually speaking there.
11:21
Speaker 4: I met with.
11:21
Speaker 1: Bruce None that if Brewster, CEO of NAKA and NAKA
11:25
Speaker 1: is a program where he's been a guest on my
11:27
Speaker 1: show at least three or four times, and where I
11:29
Speaker 1: bring him on just to talk about you know, he
11:32
Speaker 1: got me when he told me that. And it's true
11:34
Speaker 1: that if you live and you can take your Section
11:37
Speaker 1: eight mortgage payment and turn it into a mortgage of
11:39
Speaker 1: rent six and eight rent and turn it into an
11:41
Speaker 1: actual mortgage payment, which means that you have hon ownership,
11:45
Speaker 1: which means you can build equity in your life and
11:48
Speaker 1: you're not trapped in an environment where you will never
11:51
Speaker 1: have any equity, you will never be able to have
11:54
Speaker 1: pride nor respect about you changing the dynamics of your
12:00
Speaker 1: children's lives. And that's what NACA programs are like. And
12:03
Speaker 1: you're telling me you use NAKA to really start you
12:06
Speaker 1: buying the block program. Huh.
12:09
Speaker 5: Absolutely, it changed my life.
12:11
Speaker 3: You know after coming out of college, when I was
12:14
Speaker 3: going through NACA, I was making about forty thousand a year,
12:17
Speaker 3: and you know we're in Washington, d C. Cost of
12:19
Speaker 3: living and guy, and you know, NACA afforded me the
12:23
Speaker 3: opportunity to you know, buy this half a million dollar
12:27
Speaker 3: property and you know it's a below the market interest rate. Again,
12:30
Speaker 3: they cover your downpayment, clothing costs with no mortgage insurance.
12:34
Speaker 3: And you know my mortgage was about two thousand dollars
12:36
Speaker 3: and you know in d C for one government doesn't
12:38
Speaker 3: matter where you're at, you know, you it's at least
12:41
Speaker 3: twelve hundred and so you know, you just do the math.
12:44
Speaker 3: You know, that's helped me tremendously. Not only that NACA
12:48
Speaker 3: has requirements where you know, they want you to save
12:50
Speaker 3: some money. So you know, when it was all said
12:52
Speaker 3: and done, you know, I was able to purchase this
12:54
Speaker 3: income generating property, I didn't have to pay for rent,
12:58
Speaker 3: and I still had my savings in tach and so
13:00
Speaker 3: that was a life hack for me. It just put
13:02
Speaker 3: me in a position where, you know, financially, I could
13:05
Speaker 3: if I was just if I stayed true to what
13:07
Speaker 3: I knew and like just continue to build, you know,
13:10
Speaker 3: set me up to just have success.
13:13
Speaker 1: Wow. You know it's really interesting when I hear you talk,
13:15
Speaker 1: you know about financial opportunities. How what makes you a
13:20
Speaker 1: believer when when people come to you say, hey, I
13:22
Speaker 1: can I can turn my life around? What turns your
13:25
Speaker 1: life around? Randy into this whole you know, financial literacy.
13:28
Speaker 1: I want to share these values to people I don't
13:31
Speaker 1: even know. I want my community to be even stronger.
13:34
Speaker 1: What changed your value system or was your value system
13:37
Speaker 1: always there?
13:39
Speaker 3: I would say it was always there. I may have
13:42
Speaker 3: not had like like a mentor to like really guide
13:47
Speaker 3: me through you know where I'm at now from that
13:50
Speaker 3: stample right away. But like you know, my parents are Haitian.
13:53
Speaker 3: You know, they came to America, were first generation in Haitian.
13:56
Speaker 3: You know, they instilled like education, you know, disciplining myself
14:01
Speaker 3: and my brother and so like that was always a
14:03
Speaker 3: big thing. But just respect and just you know, doing
14:06
Speaker 3: things the right way. And so you know when I
14:09
Speaker 3: got you know, my parents put me through private school,
14:11
Speaker 3: and you know, they spent their last dollars and so
14:15
Speaker 3: just seeing them, you know, sacrifice just so we could
14:18
Speaker 3: have a better life. You know, that kind of puts
14:20
Speaker 3: something put a fire on me to like return the
14:23
Speaker 3: favor not only do them, but I just think naturally
14:26
Speaker 3: just people that look like me and just trying to
14:29
Speaker 3: find ways to help others. And so you know, it
14:31
Speaker 3: just allowed me to you know, have that mindset and
14:34
Speaker 3: here we are now. You know, it's I'm passionate about it.
14:37
Speaker 3: I don't have to fake it. It's just something that
14:39
Speaker 3: I want to do. And so I think, you know,
14:41
Speaker 3: when you're authentic and organic in your approach and you
14:44
Speaker 3: know you have a passion, you know, sky's the limits.
14:47
Speaker 1: Wow, I'm talking to Randy Lewis. He's a real estate advisor.
14:51
Speaker 1: He's buying back the block. Now, when we come back,
14:54
Speaker 1: we're going to find out is every block a viable
14:57
Speaker 1: block in your neighborhood?
14:59
Speaker 4: Slee, don't go anywhere. We'll be right back with more
15:02
Speaker 4: Money Making Conversations Masterclass. Welcome back to the Money Making
15:08
Speaker 4: Conversations Masterclass, hosted by Rashaan McDonald.
15:12
Speaker 1: My guest is Randy Lewis. He's a first generation Haitian American,
15:18
Speaker 1: a real estate advisor, trying to change the neighborhood with advice,
15:22
Speaker 1: with financial advice. And when you're out there telling people,
15:26
Speaker 1: what is the most skeptical because everybody's a skeptic. You know,
15:30
Speaker 1: even this story you talked about Naka and how you
15:34
Speaker 1: you don't making forty thousand dollars a year and year
15:35
Speaker 1: and a half me a dollar home and you know
15:37
Speaker 1: you get a low interest rate, and there's your mortgage rate.
15:39
Speaker 1: There's two thousand dollars a month, there're skeptics out there.
15:42
Speaker 1: People do not believe that now in our community, does
15:46
Speaker 1: skepticism stop us from being successful? And I've talked about
15:48
Speaker 1: our community, I'm talking about the black community.
15:52
Speaker 3: I think it does. And you know, unfortunately, like with
15:57
Speaker 3: lack of education, you know that that makes that it
16:01
Speaker 3: has a huge impact. But you know, for me, I
16:04
Speaker 3: try to educate people. We're now in the digital era,
16:07
Speaker 3: like everyone pretty much has the phone. We can you know,
16:12
Speaker 3: look things up now with AI and everything, you can
16:15
Speaker 3: literally find an answer for everything. And so you know,
16:18
Speaker 3: we tend to have skepticism, but you know, I try to,
16:22
Speaker 3: you know, be genuine. I try to share real life experiences.
16:25
Speaker 3: I'm big on testimonials, So if I'm helping people, I
16:28
Speaker 3: ask them. You know, you don't necessarily have to tell
16:31
Speaker 3: your business, but just let people know, reassure people that
16:34
Speaker 3: you know, this is possible, and just by sharing your stories,
16:39
Speaker 3: you know, it might just take You might relate to
16:41
Speaker 3: one person, you know, and that could make a big difference,
16:44
Speaker 3: because oftentimes when you see somebody who looks like you,
16:48
Speaker 3: sounds like you, you know, it can tend to have
16:50
Speaker 3: a better effect. But oftentimes I am faced with you know, criticism,
16:55
Speaker 3: but you know, thank God for social media and for me,
16:58
Speaker 3: you know, my I have a big residence on there
17:01
Speaker 3: and so a lot of the work we do, you know,
17:03
Speaker 3: we highlight our clients and we share success stories and
17:06
Speaker 3: I found that helped combat with the skepticism.
17:10
Speaker 1: So you're constantly marketing your brand and using social media
17:13
Speaker 1: new technology. They said, what of the people who use
17:16
Speaker 1: social media have mobile phone? So I'm assuming that you're
17:20
Speaker 1: reaching a young audience.
17:21
Speaker 3: Correct, definitely young audience. It really depends what platform you're on.
17:27
Speaker 3: But like even like you know, the older folks, you
17:31
Speaker 3: know that they'll be on Facebook and things of that nature.
17:34
Speaker 3: So I mean, for fortunately for me, you know, a
17:37
Speaker 3: lot of my clients range. But you know, social media
17:41
Speaker 3: has a big impact. Most people when they first wake up,
17:43
Speaker 3: that's the first thing they do to grab their phone
17:46
Speaker 3: see what's going on. So you know, it's important, you know,
17:50
Speaker 3: to use those kind of platforms to reach you know,
17:53
Speaker 3: those demographics.
17:55
Speaker 1: Now, let's let's talk about buying the block. You know
17:57
Speaker 1: there's Mike Apps has a TV your own called Buying
18:01
Speaker 1: Back the Block. He does with his wife, goes in
18:03
Speaker 1: and buy block blocks there in his community. I know,
18:06
Speaker 1: I'm from fifth Ward and some APECU graduates went into
18:10
Speaker 1: fifth Ward, Texas and Houston, Texas that's where fifth Ward
18:13
Speaker 1: is located, and start buying back the block within the
18:16
Speaker 1: fifth Ward community. How does that work? How do you
18:20
Speaker 1: how is the strategy behind buying uh? Community blocks within
18:25
Speaker 1: the neighborhood? What is the strategy Randy?
18:29
Speaker 3: Uh? You know, first and foremost you want to be
18:31
Speaker 3: around somebody that's educated as doing it. But really, you know,
18:35
Speaker 3: it's just looking at areas typically, you know, it's the
18:38
Speaker 3: areas where you know our people are in and you know,
18:42
Speaker 3: looking for opportunities. A lot of these areas, you know,
18:46
Speaker 3: the there's not many resources, but you know you can
18:51
Speaker 3: see there's potential for growth. So for us, we're looking
18:55
Speaker 3: at areas and we're trying to find products that will
18:58
Speaker 3: allow people to purchase in these areas. So again, NAC
19:02
Speaker 3: is a great tool that we use where I try
19:05
Speaker 3: to educate my people. It doesn't matter where you're at
19:08
Speaker 3: in life. You know, again you mentioned earlier how you'd
19:11
Speaker 3: be on section eight and you can go through a
19:13
Speaker 3: KNAC a program and buy a home. So as opposed
19:16
Speaker 3: to renting, you know, why not buy a home even
19:20
Speaker 3: if it's in an area where you know they're redeveloping
19:24
Speaker 3: or it's not quite there yet. I found, you know,
19:26
Speaker 3: just from my experience. You know, when people own something,
19:30
Speaker 3: there's a more sense of pride. You know, they're more
19:32
Speaker 3: willing to take care you know that that asset. And
19:36
Speaker 3: so you know, we we're looking for areas where you know,
19:39
Speaker 3: we can put our people in, no matter where you're at,
19:42
Speaker 3: no matter you know, how much money you're making. We're
19:45
Speaker 3: looking at areas where we see, you know, they're not
19:48
Speaker 3: strict zoning. Zoning means like regulations where you know, if
19:53
Speaker 3: you want to build up or you know, try to
19:56
Speaker 3: you know, redevelop those areas, maybe create jobs, you know,
20:00
Speaker 3: put mixed use and commercials type of properties. We look
20:04
Speaker 3: for areas where you know the zoning isn't as strict.
20:08
Speaker 3: Areas where there's public transportation. You know, those are the
20:11
Speaker 3: areas where you know, we really want to focus in on,
20:15
Speaker 3: because especially if people don't necessarily have the money, they
20:17
Speaker 3: may not be able to drive to public transportation that's
20:20
Speaker 3: used because they got to get to and from work.
20:22
Speaker 3: But really just finding areas where there's opportunities where it's
20:25
Speaker 3: not too expensive and you know, teaching out people.
20:29
Speaker 1: You could buy them all, right, right, but it's important
20:32
Speaker 1: for the word buying the block, because buying one house
20:35
Speaker 1: on the block could really be eject detriment to the plan.
20:39
Speaker 1: Because here's the here's the thing. There's a note that
20:41
Speaker 1: I knew because I you know, the opportunity is presented
20:46
Speaker 1: to me. I didn't move forward on one of the
20:48
Speaker 1: wrets in my life because the gentleman came to me.
20:52
Speaker 1: He said, hey, we're going to knock on all these
20:54
Speaker 1: doors on this block. It was a block, literally was
20:57
Speaker 1: a block, and he said, this is why you do
21:00
Speaker 1: it because this and this was in the city of Houston.
21:03
Speaker 1: They said, by buying this block, the city of Houston
21:06
Speaker 1: wants you to buy the block because once you tear
21:09
Speaker 1: all this run all these people out, because that's what's
21:11
Speaker 1: going to happen. You're going to run out the people
21:14
Speaker 1: who can't afford what you're about to do. And so
21:18
Speaker 1: that why by increasing the value the homes, then the
21:20
Speaker 1: property tax can be increased. If you increase the property tax,
21:24
Speaker 1: that means the school tax can be increased, which means
21:27
Speaker 1: that your kids are going to get better educated in
21:29
Speaker 1: that community. So it has a lot of value in
21:33
Speaker 1: it when you're buying back the block, because it builds
21:36
Speaker 1: the community. It brings value back in the community, and
21:39
Speaker 1: that's really what really really is important when you're talking
21:42
Speaker 1: like this. Now you have coming up in twenty twenty
21:46
Speaker 1: four a Generational Wealth Expo. What exactly is that?
21:51
Speaker 5: Yeah, so this would be our second annual one and
21:54
Speaker 5: it's really just an expo where we're bringing in some
21:57
Speaker 5: of the most influential people in the industry.
22:02
Speaker 3: It ranges from real estate to life insurance to you
22:06
Speaker 3: know tech. You know, we have people estate planners, tax advisors,
22:13
Speaker 3: and we try to create a one day event where
22:16
Speaker 3: you can come in there and it's a one stop
22:18
Speaker 3: shop where, you know, if you're interested in entrepreneurship, we're
22:23
Speaker 3: giving you the tools and resources to be able to
22:27
Speaker 3: you know, succeed. And you know, we last year we
22:30
Speaker 3: did it in Ward eight in d C, which is,
22:33
Speaker 3: you know, probably the worst war. And our goal really
22:36
Speaker 3: is to like bring light into our communities. We had
22:39
Speaker 3: Matt Garland from Earn Your Leisure. We had Henry Washington
22:42
Speaker 3: and bigger pockets. We have some really dynamic individuals. Lindsay
22:45
Speaker 3: Smith one of the best insurance brokers. They all came
22:49
Speaker 3: out along with myself and others just notable people, and
22:52
Speaker 3: you know, they just poured into our attendees and really
22:55
Speaker 3: the goal is to help people understand how you can
22:58
Speaker 3: build generational wealth no matter where you're at, you can
23:01
Speaker 3: get started and you know, you can put plans in place.
23:05
Speaker 3: And it's really it's a really great time where we
23:08
Speaker 3: just really educated our people and we sponsored returning citizens.
23:13
Speaker 3: We gave them opportunity to hear from some of these experts.
23:16
Speaker 3: We had some high school kids and really just trying
23:19
Speaker 3: to create, you know, opportunity where people are inspired and
23:23
Speaker 3: ready and have a road map.
23:24
Speaker 1: And this would be in the DMV area, Washington, DC, Maryland,
23:28
Speaker 1: Virginia area.
23:28
Speaker 3: I'll go to Washington, d C.
23:30
Speaker 1: Before we go, we have a caller and I want
23:33
Speaker 1: to take this call before we end the interview. Kevin,
23:35
Speaker 1: Kevin from Atlanta. How are you doing? This is Rushan
23:37
Speaker 1: mcdonaland Randy Lewis is calling in on the show.
23:40
Speaker 6: Do you have a question, Yes, gentlemen, how are you all?
23:43
Speaker 6: I have two part questions. One first question is there
23:46
Speaker 6: is an empty lot in my neighborhood and I've been
23:48
Speaker 6: maintaining keeping it for the County. I've gone and talked
23:51
Speaker 6: to them about trying to purchase it. Is there any
23:53
Speaker 6: other ways that I would because they told me I
23:55
Speaker 6: would have to pay all of the back taxes that
23:56
Speaker 6: were old on the property if I wanted to own it.
23:58
Speaker 6: And then my second question is that in my neighborhood
24:02
Speaker 6: there are several houses that have been purchased by these
24:05
Speaker 6: major companies, these major military companies, and they're putting people
24:09
Speaker 6: in these houses that and they're charging them high mortgage
24:14
Speaker 6: rate and most of them can't afford it. And the
24:16
Speaker 6: last that we had some squatters, but they're not doing
24:19
Speaker 6: anything to enhance the neighborhood. They're bringing down the value
24:22
Speaker 6: of our neighborhood. What is it or can we do
24:24
Speaker 6: anything to block them or get them out of the neighborhoods.
24:31
Speaker 3: That's a great question. So the first question you had mentioned.
24:39
Speaker 1: It was a vacant house in this neighborhood, but there
24:41
Speaker 1: are back taxes on it. Anyway you can get the
24:44
Speaker 1: house without paying the back taxes?
24:48
Speaker 3: No, not for miness then.
24:52
Speaker 1: As universal know there, Randy, that's a universal.
24:55
Speaker 3: No right from you know, I would not let that you.
25:00
Speaker 3: I mean a lot of times we think about doing
25:02
Speaker 3: things individually, But why not you know, maybe reach out
25:05
Speaker 3: to some other people on your network and see, hey,
25:07
Speaker 3: can we you know, collaborate together great of fund, you know,
25:11
Speaker 3: work together to purchase it collectively. So I would think,
25:15
Speaker 3: you know, if you can't come up with the fund yourself,
25:16
Speaker 3: maybe trying to you know, find other people that can
25:19
Speaker 3: help you.
25:19
Speaker 1: And let me slide in on that stay on top
25:21
Speaker 1: of that house because that house can come up for
25:24
Speaker 1: auction and you don't want to miss out on that.
25:26
Speaker 1: And don't keep like I said, keep egleizle that land.
25:30
Speaker 1: And also the history on it, you know is who
25:33
Speaker 1: owns that land all those things because sometimes when when
25:37
Speaker 1: you don't have to pay the taxes on it, somebody
25:39
Speaker 1: is it's the community would say, or the state or
25:42
Speaker 1: the city say, you know, we're just gonna get what
25:44
Speaker 1: we can off the property. So don't let the fact
25:47
Speaker 1: that it has you know, a tax land on that
25:50
Speaker 1: land stop you from considering it. And it will never
25:53
Speaker 1: be a possibility, but they are going to want some
25:55
Speaker 1: form of tax payment to release that property for sale
25:59
Speaker 1: and a lot of times gone to auction. And your
26:01
Speaker 1: next question was about people who are basically not so
26:04
Speaker 1: much squatters. But you know, be this big corporation or
26:07
Speaker 1: just coming in and you get the commercials, you have
26:10
Speaker 1: to tell us, we just buy your home online, just we'll, we'll, we'll,
26:14
Speaker 1: we'll give you a price, and if you move in
26:16
Speaker 1: and the house sale goes up, we'll give you the difference.
26:20
Speaker 1: These people are taking over communities and he wants to
26:22
Speaker 1: know how can that be stopped or he's just gonna
26:25
Speaker 1: be a frustrated person in his community. Randy.
26:29
Speaker 3: Yeah, so that's a trigger one as well. I mean,
26:32
Speaker 3: because at the end of the day, you know, people
26:34
Speaker 3: are squads and squatters have rights in a lot of states.
26:38
Speaker 3: So it's just a matter of going through the core
26:39
Speaker 3: process with that, you know. It's it's it's a matter
26:46
Speaker 3: of I know, for people who are falling behind on
26:48
Speaker 3: their mortgage and stuff, there's a lot of different HUD
26:51
Speaker 3: programs that may allow them to you know, get back
26:54
Speaker 3: on their seat because you know, throughout it, a life
26:56
Speaker 3: happens and we don't really know what's going on, but
27:00
Speaker 3: you know, and that's why it's important to when we're
27:02
Speaker 3: buying these homes, we educate ourselves what's the best product.
27:06
Speaker 3: Like programs like NACA where you know, they're making you
27:10
Speaker 3: really go through a process to see if something's really affordable. So,
27:15
Speaker 3: you know, I think that's really the best approach in
27:18
Speaker 3: terms of like trying to get them out. There's not
27:20
Speaker 3: really much we can do now.
27:22
Speaker 1: Loans, they on their property, loans, they don't fall behind
27:24
Speaker 1: in the payments. Unfortunately, the you know, home ownership does
27:27
Speaker 1: give you a lot of rights, and squatters kind of
27:30
Speaker 1: can take advantage of that because you can't do anything
27:33
Speaker 1: physically to get these people out because they have rights.
27:35
Speaker 1: As soon as they get avanaged on the doors, they
27:37
Speaker 1: have rights. Their rights can supersede your rights. Correct.
27:41
Speaker 6: Yeah, but the issue that we're having is that it's
27:43
Speaker 6: like these companies from Arizona, outside of States, right, they're
27:47
Speaker 6: purchasing these houses and the mortgage that they're charging these
27:51
Speaker 6: folks are the type of clients that they're getting. They're
27:53
Speaker 6: not doing any type of vetting of them.
27:55
Speaker 1: Right.
27:55
Speaker 6: You can see that these are people who are running
27:57
Speaker 6: a credit card scam to get a place to sleep night,
28:00
Speaker 6: and they're not making any improvements on the house yard.
28:03
Speaker 6: And now it's bringing my.
28:05
Speaker 1: Your value down and making you disappointed every time you
28:07
Speaker 1: come home. Thank you, Kevin, Thank you Randel Lewis for
28:10
Speaker 1: coming on Money Making Conversations Masterclass. My friend, We're gonna
28:12
Speaker 1: talk soon, okay.
28:16
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28:19
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