Audio Player
Starting at:
FBI's Most Wanted Con Man Steals $30M | The Condo King
January 18, 2025
•
3:32:56
•
undefined
Audio:
Download MP3
⚠️ Timestamps are hidden: Some podcast MP3s have dynamically injected ads which can shift timestamps. Show timestamps for troubleshooting.
Transcript
Enhanced with Timestamps
518 sentences
37,949 words
Method: api-polled
Transcription time: 208m 49s
Talkspace is the number one rated online therapy. They work with many insurance companies and most people with insurance pay zero dollars for therapy or psychiatry. You can change your provider for free. This helps you find the licensed therapist who fits your needs the best. Therapy can be costly, but part of the mission of Talkspace is to provide quality care that is accessible and affordable whether or not you are insured. Talkspace makes getting the help you need easy. Let me tell you more about why I love Talkspace.
I learned that talking things out can change your whole life. When I finally opened up about my past, it helped me understand myself and make better choices. As a listener of this podcast, you'll get $80 off of your first month with Talkspace when you go to Talkspace.com slash podcast and enter promo code SPACE80. That's S-P-A-C-E 8-0. To match with a licensed therapist today, go to Talkspace.com slash
podcast and enter promo code SPACE80. It started with a scream inside a quiet Maryland home. A mother trying to protect the family dog and her son in the grip of a violent hallucinogenic rage. By the time it was over, she was dead and he claimed LSD made him do it. His name David Minor the fourth and we talked to him.
Listen to Invisible Choir every other week as we uncover the most haunting true crimes you've never heard of. Available wherever you get your podcasts. Hi, I'm Jean Chatsky. You may know me as the host of the Her Money podcast or the financial editor of NBC's Today Show for 25 years.
Today I'd personally like to invite you to join my women-led investing club. It's called Investing Fix with two X's. We walk through current market trends, teach investing fundamentals, and build a real portfolio together.
Plus your first month is absolutely free, so come check us out at investingfix.com. We'd love to have you. When you start getting paid, one group of people leave the room and a whole new usher in. That shit is superficial as and you love it. Basically across a check $525,000 for only thing was going through my mind was how much
Within 36 months, I would be in prison, sitting across from you and the child. Born in Brooklyn, New York, parents Jamaicans, grew up in the 80s, man, where shit was crazy in the 80s in Brooklyn. This was, you know, the funny thing about growing up in the 80s, I tell people this all the time, where
People kind of say, Oh, where we are, you have to have a mean fight game and you have to be able to fight and kick some ass. No, it's true. Okay, it's true. The bullying shit. They talk about bullying, the bullying that they were doing in the 80s. I mean, today, I mean, I mean, motherfuckers are still traumatized from that shit. You know what I mean? I mean, you had to literally come out your door and be fighting like 10 fucking people. And I think that that whole logic just completely
I think people become emboldened the more you go, the more you go and the more you go. So at least a business to hustling and then and then if you don't watch it, you know, you can do into criminal activity, which is a whole
Another dichotomy. Your mom was in real estate, wasn't she? So my dad was a real estate broker. Oh, okay. My dad was a real estate broker. Good memory, Matt. Good memory. Damn, Matt. I'm glad that you remember that. Damn. Thank you, Matt. Uh-oh. No, it was my dad. No, no, but close. My mother was a banker.
So my mother was she had a master's degree in finance. She was a banker with Chase and my father she was actually did trust and did management for large accounts and my father though was a real estate broker and he would buy properties, he would buy housing. That was my introduction in the real estate. I remember being a little kid and I was close to my father always. I still am close to my father and I remember, you know, just driving around my father up and down Brooklyn. This is like early 80s and me sitting here and him driving through was miss miss miss miss.
How much would you like for that house? How much would you like for? I'll give you a hundred thousand. I'll give you 200,000. I mean, he needed out of money, but you know, it should feel great. So that was my introduction into getting roasted. My father was a real estate broker. So but
Ironically, though, we did make a big push in real estate when I was about 21 years old. When I was 21 years old, I came down to Atlanta. I had never done anything in real estate. I didn't even like real estate. My father,
Cause you know, he was always waiting on a closing. I never understood that shit. Like how you always waiting on a closing? We're going to get this closing was like was like Christmas time. You know what I'm saying? It was like we got a closing coming up next month. We got a closing, but right now we're broke, right? We got the closing coming up. You know what I mean? So the thing was, was that I never stood it. But when I was 21 years old, I had come back, you know, I used to drink a lot. I haven't drank since, you know, I hadn't drank since I was in my 20s. But back then,
I was a bit of a heavy drinker and I had come back to Brooklyn from Atlanta 21 years old got in a bunch of trouble and he was starting a real estate rental business out of one of his brownstones. So when I go in there to he told me listen just help this lady Charmaine. I have some lady named Charmaine. This is in Brooklyn. It's in the brownstone main floor. He just said we're renting apartments. I'm like what the fuck he's renting apartments. How do you make money off this? He said listen just help Charmaine out.
No problem. And you know, I'm gonna give you $200 a week and you'll be fine. Charmaine was like this. What year was this? This was like 1990. I was drunk, got in trouble in Atlanta, ended back up in Brooklyn. I'm 21 years old and it's like 19 maybe 92 or some shit like that. And
Yeah, yeah, Charmaine there. Charmaine was gorgeous. One of, you know, some chick he had renting apartments for him and I sat there and I'll never forget it was one desk. It was a big, you know, they have the Shotgun Brownstones. He owned the Brownstone and we're sitting there on the main parlor floor and he said, listen, help her out. They're going to be running apartments and
Did you know that Dell had a breach that exposed over 3.9 million customer records, including sensitive personal information? Then Ticketmaster had 560 million records compromised, but the scariest one is national public data. Just a few months ago, they suffered a massive breach.
Potentially impacting every American. Over 2.9 billion records exposed. Things like full name, address, date of birth, phone numbers, and even social security numbers. Those records didn't just disappear. The hackers released them online for free. So if you think your data is safe,
Think again. That's why I use Aura, today's sponsor. Aura is an all-in-one digital security platform that monitors your personal data, including your social security number, across billions of data points. They'll alert you if anything sensitive shows up, whether it's on the dark web or in public records. And if the worst happens, Aura has you covered with up to $5 million in identity theft insurance. But it doesn't just stop there.
Aura offers you so much more to keep you safe online. Things like real-time breach alerts, a VPN for secure browsing, data broker opt-out to stop companies from selling your information, and even a password manager to help you create and store strong passwords. Right now, your personal information could be floating around the internet, but you could head to aura.com slash mat and try Aura for two weeks
Well about 7.45 came and I'm sitting there waiting for it to show up December cold as New York Day and
She came, she kind of briefed me, she said, listen, just keep up with me, keep up with this process, you'll be fine. She's like 35 years old, fine as hell. I'm like, oh yeah, I'd love to work with you, no problem at all. Just well dressed, Trinidadian, fine as hell. And she said, we open at eight. I said, okay. Five minutes into her telling me this, like 745, going to 750, the bell rings and she says, let them wait. I said, okay.
The eight o'clock hit and when eight o'clock hit it was and she's okay let him inside to go open these big wood doors and then go to the major when I opened the door there was a line of women there must have been about maybe 30 40 women from the door down the steps going down the other side of the steps because you know the brown stones kind of go up like that just don't mind of women going through
And just women, women of all ages, and some of them fine as hell. So I came back, I said, okay, I came back and I said, here's a clipboard, here's a pen, give me like a stack of them. I said, give everybody a clipboard. I ran out of a clipboard.
These were people, they were on social services, public assistance, Section 8, public assistance, jiggits. They had an AIDS program called ERP at the time. They had a various array of these social programs. So I'm giving them the clipboards, giving them the clipboards. I'm standing here trying to figure out what the hell is going on. Well, long story short, she'd go through and as they were filling the papers out, she'd be in the newspapers.
Well, I was here just helping out helping the process through moving the papers through same. Can you sit over here? Can you move over here and just kind of moving them through and she was started like she started, you know, maybe at 8 and she was done by like 12 1 o'clock. Well, we had done this a few times during the week. I'm opening the doors going back with the condom watch the process and one day.
I said to her, how do you get paid off of this? She said, well, I get 15% of the years rent is split with your father. Well, the average rent was about $1,000 a month. So that's $12,000. 15% of that might have been, I don't know, I'm just going to throw a number on like 1800 bucks or something like that. And she's going to fall 900, 900. So I said, wait a minute.
You're getting $900 from all those people every day. How many are getting an apartment though? Maybe even at 50% are well, how about this? She was running like an apartment a day and cutting out at like 12 o'clock, right? That's why she was working for like three hours. She's like making damn near thousand bucks and cutting out like like like she's just cutting out right away. So
I said, okay. She said, but you can't do it because you need a real estate license. I said, all right, you have to be a broker. I went to my father and I told my father, I said, hey dad, why don't you let me try a couple of these? You know, I knew my father, my father loved me to death. I said, dad, let me just try one or two of these. He said, all right, well, I'll let you try one or two of them. Let's see what you can do. So I'm there working with her. So now I'm working with her. I said, I'll just wait for her to leave. This chick would leave at 12 o'clock.
Well, I just kept everyone coming. I just kept calling everyone back in. Shit, the first week I rented like four or five of them.
Then after that, I rented, I just kept the whole process going week after week after week. Then I just turned the whole thing up. So she would be making probably realistically, I thought she did a split maybe three, four thousand weeks. I was making six, seven thousand dollars a week just from running rooms with this program. And it took off so, I mean, it hit so hard from these rentals with these government programs. I started calling my friends now. And I started calling my friends. Next thing you know, we built my father. And the chick got so upset and so offended by the competition, she quit.
She absolutely quit the job. She just said, listen, you have your son going through here. You know, this is your broker. He shouldn't be doing this anyway. And he's creating competition. Now she's ethical. She's my father. My father looked at her and said, I understand how you feel.
And I completely understand your position and good luck to you and she walked out the door and man we blew that thing up and we were running rooms literally I was probably averaging $5,000 a week at 21 22 and we were absolutely I brought in all my friends like me five six of us and we literally were just advertised we were called 0909 because the number was 718-363-0909 so everyone knew us as 0909 and we would have and then the
Chicks, I mean, you know, the chicks, man, the shit was endless, you know, you know, you know, women, you know, women on subsidized housing. When you said it was all women, I thought section eight, because I've rented section eight, never rented to a guy always
We were just brokering. Yeah, they typically get like a percent. I guess 15% is they get a percentage of the annual whatever is made, you know, or sometimes they'll get which is basically
It's basically like the first month's rent, you know, typically. Sometimes they'll get the first month's rent or something, I guess in this case a little bit more than that. Well, I think a little bit more than that because they were just subsidized housing and it was just kind of, you have to convince the landlord to take, well, the city was paying the commission.
Okay, I thought she was calling and convincing them I can get you a tenant but you have to give us No, she was calling them convincing them take this subsidized housing tenant. Okay, take this subsidized housing We found a paperwork through the case managers downtown Brooklyn and they will cut the check to us through my father's broker's license and that's how we were getting the commission and
So the crazy thing was, was that that's why it was such a, all we did was just do, we called them breakdowns. We just do the breakdown, set it down to the case manager and they would cut the check. The landlords didn't have to give us the money. We just had to convince them she has Section 8. She's not going to, her and her six kids will not destroy your house. It's going to be okay. Don't worry about it. The GLEM come on in and we're going to, you know, guarantee, you know, that everything's okay. And they would, Section 8 would actually, well, the city would pay us the commission. But
That was during David Dinkins. If you're familiar with New York in the 90s, David Dinkins was the mayor, really liberal kind of guy. Rudy Giuliani came in, like after two years, they do was up the party was over. So the party was over. Rudy slowly but surely within I'm talking about like within a month of him being in office, those breakdowns, that shit was dead. So that was that's actually how I ended up going down to Atlanta.
Because after a while, I couldn't make any money up there. My father's office is pretty much closed, and I ended up transitioning moving down to Atlanta. And I went to get into real estate business. I didn't know shit about the real estate business, but something said,
Something said that I was literally, you know, listen, if you've got, if you have that real innate deep hustle in you, like that hustle, you have to just really let out in some type of real hustle. Real estate is always a great outlet.
Um, you know selling rock was before that it was like a free a free detour and you skipped that part Yeah, selling rock was a pretty good. What was that? When was let's go back to that room. Well, so I moved out to atlanta I moved out right just when I moved down to it. So i'm with atlanta I was maybe 23 years old 24 years old moved down to atlanta which was just You know, I was excited. I thought I was gonna make all this money. I thought it was gonna jump I thought it was just going to be absolutely just through the roof, but
You didn't take off that way. You got to remember something. I was, I was alcoholic anyway. I'd been drinking excessively since I was, you know, night getting fucked up and then days going to work, trying to work. So I had a lot of talent, but you know, like anything else, if you have these dependency issues and you're dependent on shit, addiction is a motherfucker, right? So I was down here and I moved to Atlanta. I was like 23 by then and I'm trying to get
It started with a scream inside a quiet Maryland home, a mother trying to protect the family dog and her son in the grip of a violent hallucinogenic rage. By the time it was over, she was dead, and he claimed LSD made him do it. His name, David Minor IV, and we talked to him. Listen to Invisible Choir every other week as we uncover the most haunting true crimes you've never heard of, available wherever you get your podcasts.
this thing off
So I go up there and literally just all this activity, all this traffic going on.
One day he just says, hey, listen, man, he says, look, we're there. And I'm just there trying to get my shit together. I was doing a little telemarketing job during the day. He says, listen, he says, uh, you have a customer now. So he says, can you just give me the customer? He's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's
I go downstairs and listen, I took those two dimes and put it in that damn junkie's hand. And she gave me $20 in exchange, the transaction. And I don't know what happened. It's like she got hooked on the rock and I got hooked on that $20, man. And after that, I said to my girl, I'm like, do you have any of this shit that I can sell as well? And the next thing you know, I said, I'm only going to do this for two weeks. Well, three years went by.
Three motherfucking years went by and, you know, three years of selling rock really takes its toll, you know, and you're selling rock to the junkies, you know, it's dangerous, you know, you're, you're, you know, you're getting into these crazy ass arguments or situations, situations, I could take a situation that was crazy. This cousin right here. I got a great story I could tell you.
So we're in like this rock house, right? So they're like two stars, like a duplex. By the way, this very house that was the rock house back in 1990, 1991, 92, the lapidated house just sold for about literally like seven, $800,000 through the gentrification. That's a whole nother story. I got places in Ybor City that I was buying. I bought for $40,000. I see them listed for six and $800,000. It's like, I bought that house for $40,000 20 years ago. It's insane. Insane how much these places are going for.
That is amazing how these houses do gentrification just take on just a whole new meaning. It's not all that gentle. No, it's not. You got to do the push out. You got to do the big push out.
We, I get in a fight with this guy. This guy's harassing me while I'm, you know, selling, you know, I'm there, you know, reading the Wall Street Journal while selling the rock on the side. You know what I mean? Trying to make money because I'm preparing for my real estate exam. But I'm selling rock on the side. So I'm selling, no, right. So this was like a temporary thing, right? So I'm down here preparing for my real estate exam. And this is my cousin's shit, right? So I'm there
Long story short, as we're getting into the fight, we have to fight
At the house he goes up the street instead of me understanding. Listen, he's coming back. Just stop fighting after I ran them off. So I became incredibly confident. I said, I said, I said, listen, I'm going to really sell this shit one last time. We really gonna have this fight in the street in front of everybody. I go running up behind this guy up the street. This guy's like running, running. But what he's actually doing is he's pulling me away from
My family, my crew, the whole thing, right? So we get up the street, get a drink. I went there and I said, I said, I said, yo, motherfucker, I am going to kick your motherfucking ass this final fucking time. As he turns around, this guy pulls out an ice pick this long. He pulls the ice pick out and he, I'm thinking to myself, oh God, what have I done? Pulls the ice pick out, swings the ice pick. As he swings the ice pick, I jump back.
By the grace of God, he misses me in the ice pick. I'm looking, thinking to myself, oh my God, I'm absolutely done. Swings the ice pick again. I'm thinking to myself, oh my God, I'm absolutely done. The third time, the third time, he brings this ice pick up. As he brings the ice pick up, I'm thinking to myself,
I am absolutely done. This is it for me. The ice pick comes up. I'm standing in the street. I'm looking. This guy's like right over me. He comes up with the ice pick and I'm thinking, oh, this is it. And then as he comes up, it's like he sees a ghost.
When he sees this ghost, he turns around and takes off running like literally midway through. He just takes over. I look behind me. It's my cousin. He's got a gun pulled just like this right behind me. I'm thinking to myself, oh through the grace of God that this whole thing has absolutely I was like absolutely mortified and that was at that point. I started praying saying, you know, Lord, I need to find another line of work.
This is probably not going to be the best line of work for me. You know, this is I probably need to find something else to do the whole concept of this is my cousin thing. I'm just like the whole I feel like if the cop showed up, I'm just an employee. Just really just kind of just move just move me up. So
You went back to New York? No, no, no, no. No, believe it or not, when that happened, I literally prayed on the corner. I literally was on the corner. I prayed and I said, you know, God, there's got to be something better for me to do. Clearly, I have more talent to my life. There's got to be something else I can do. I said, I want a job at McDonald's. I go around the room. I'm 27 years old. Let me just kind of regroup. I'm a Halleck. Let me just get the drinking off my back, the whole thing.
Just show me a pathway out. Well, saying that prayer, about two days later, I met this really fun white chick. She was like a dancer at one of the high-end strip clubs. She wanted some rock. I said, no problem. I went with her to a hotel, the kind of server. Well, she set me up and I ended up getting arrested by an undercover officer. So my way out was actually me getting arrested.
So I get arrested and I always said if I got arrested I would stop doing this and I would never do it again. I would never sell drugs again if I got arrested. Well, I got arrested, bonded out, I had a sale case at this point and I didn't go by my own
Model like literally two days later three days. I need money because I spent the money on my money to get out I went back. It's right back to the same spot Started selling again and sure enough sold to an undercover officer again mind you I'd gone like three years with no problem Suddenly, I'm something on the court another case when I caught another case BAM bonds out by two cell cases. I never had a record. Yeah, I'm thinking. Oh god. This is This is this is bad. This isn't good
But while they went to a club one night, met a fantastic lady, beautiful woman. She was angelic. She's like an angel. She's a nurse. Lisa, if you ever see this, I'm sorry about the way things worked out. I should have made better decisions going forward. I really mean that. And she took me home to her house and I moved, literally moved me in. And when I moved in, I said, I'm going to sit here. I'm going to get sober.
I'm going to take this time to really re-evaluate the life I've been living. And I'm going to stop smoking. I smoke two packs of cigarettes. I'm just going to get myself there. Well, I sat there and sat there and sat there. Started getting myself together. Got a job doing gas deregulation. Back then, I used to do gas deregulation. We knocked on doors.
where the monopoly of gas companies are being broken up. And you got these independent vendors that would give you the gas resellers. I would give you the gas. So I was knocking on doors and things of that nature. But the thing is, is that as I'm doing this, I'm really drying out and sobering up.
I was at Lisa's house when I and like maybe my second month to really get myself in my job make like $200 a week again. And I love it. I'm making 200 bucks a week, but I'm sober. I'm getting together. I'm getting I'm really like, the drug shit is going behind me. I'm really like evolving moving on. So as I'm doing this, a friend of mine from New York, he calls me one day, I'm at Lisa's house. He says, a man, I gotta leave town. The cops are looking for me.
I'm thinking, good luck, get the fuck out of here, right? Goodbye, right? So when he tells me the cops looking for me could not make this up, he has like this black, beautiful, synthetic Gator briefcase. It wasn't real, but it looked real. You know what I mean? Some real, but the Gator briefcase and he has the locks on it, the whole thing. And he says, listen, I got in this, he says just like this, I could not make them in his briefcase is something that's going to make you rich.
I said something's gonna make me rich. Mind you, I'm sobering up $20 a week. I said, what's gonna make me rich? He says, in this briefcase is a Carlton Sheets brochure. This is the 90s. In the early 90s, Carlton Sheets was like, he was like the motherfucking wizard of real estate money, right? This is pre-internet, right? So he says, in this briefcase is Carlton Sheets
And he says, once you forgot how to unlock this, because it's locked, right? He says, once you forgot how to unlock this, you're going to go in here and this program is going to make you rich. So I said, sure, man, no problem at all.
I said he's a good luck ticket. He put that briefcase at the towards the end of my girlfriend's bed. I never got it was kind of like the wall where you know, you can sit in the bed. It's like against the wall. I gave him that said good luck, bro. He leaves town and that briefcase is there and I'm working knocking on doors looking at the briefcase busting my ass. And then one day I looked at that briefcase Matt.
For about literally for about a month and a half that briefcase looked at me. I did that briefcase. I was not going to remember. I still had My dad and an apartment so I was renting out that real estate exposure, but I didn't know shit about real estate. I was running apartments. I watched my dad go miss miss miss and and really do his closes, but I didn't know shit about real estate. So
One day I just said, something just said, open the briefcase. I just felt compelled. I had no thought, no nothing open. And I remember taking the hatchet because the locks just snap on locks. I had to pry it open, pry it open. And I opened it, sure enough, there it was, 12 CDs and booklets. And I read the booklets, I just seen about five of the CDs, and I realized,
Carlton cheese program was total bullshit, gave me no information, no nothing. It was total bullshit. This was no secret formula. There was no miracle information. It was total. It was a griff. It was total bullshit that was in there. So, but I did read one small paragraph, one little paragraph that resonated and stood out to me.
What was that? Flipping contracts. Oh, yeah. So he gave he gave a real brush over because you know, of course, he's didn't know shit anyway. He was a hustler, right? So he just simply said flipping card. I'm going to paraphrase for you broke motherfuckers flipping who have bad credit and don't got shit going on. You go out there and get a contract and put a house under contract. You didn't even give the details, right? Basically, you can put out something contract. You sell the contract for a profit. And that's that's what it was.
Bird-dogging. Bird-dogging. So I called my dad up and I said, Dad, just flipping contracts. He said, listen, he said, you just simply get a property under contract. I called him up in Brooklyn to get a property under contract, put it under below market, and then you'd mark the contract up and sell it to who? Get the contract from who? What is the contract? How's the contract?
My dad said, listen, I can't answer all these questions. My dad was a broker. He wasn't flipping a whole lot of contracts. He did flip contracts, though. But he said that he just didn't want, you know, it's just kind of me going on and on. He just said, listen, if you get something, call me and we'll take it from there. I said, all right. Well, I went back out that day. And of course, I was doing gas and gas.
I'm already doing the hardest part.
I'm already doing the hospital, but it really did get much harder. It really got fucking harder. So I'm knocking on doors, knocking on doors, knocking on doors. I say, hey, gas deregulation, would you like to sign up? Because I got $10 for each one of these gas forms. So I was getting my $10 from the gas. And I would also say, by knocking on doors for gas, handing a piece of paper for gas deregulation, I would also say to them, I'm also roasting.
Real estate investor. I'm also real estate investor and I buy properties, right? And if you ever have you want to sell your properties, please be sure to give me a call like the guy knocking on doors for $10 gas forms. I'm also a real estate investor. Let me
Let me knock on your door for gas deregulation, right? But I also buy real estate, like I buy real estate in the land, I buy real estate all over the land, and the people are going, okay, all right, okay, we'll call you if you want to sell our house. And I just kept saying this, right? No clue at all, right? Didn't know how a real estate transaction took place. So I'm telling you this, right? So I kept doing this for like two, three weeks, knocking doors,
And then one evening, I get a call. I'm like 27 years old doing all this shit, right? I get a call, phone rings, really just after like work, I'm back at my girlfriend's like, no call, my girlfriend have to come pick me up, literally and bring me back home. Like I'm broke, broke.
Looking at me like, where did you get this fucking bum from?
She says, I'm back one day after work and I'm there and I get a phone call phone rings. I have this little like cell phone that I would use.
Hello. Hi, Mr. Dawson. This is Mr. Tyson. You called, you knocked on my grandmother's door by buying a house? I'm like, oh shit. So I was like, somebody's really calling about this shit. I said, oh yeah, absolutely. Do you buy houses, Mr. Dawson? I sure do. Well, my grandmother has a house.
Over here and I'd like to see if you want to buy I said sure when you want me to come see it come on down right now So I'll be right I said be right over so I hung up the phone I call I told my girl for us. Listen, you got to drive me downtown There's a guy who actually called me about buying a house She said you don't have anybody to buy a house. She's like, you know, I mean, she's what are you talking about? I'm like the guy wants to something else what house she said he said he had a house I just need to go see it
She says, I'll take you there. I mean, she said, do you know anything? Do you know how much this is worth? I said, I don't know. Let's just go see the guy. So I go, I go to see the guy. I had this one yellow.
Tommy Hillfinger shirt that I would wear. This was like when I wanted to knock him dead shirt, right? I like three shirts, but the yellow Tommy Hillfinger shirt. That was the one right? I put that yellow Tommy Hillfinger shirt on, ironed it up real quick, threw it on my jeans, my favorite Tim boots back then. And I jumped in the car with her. And sure enough, we drive down in the Grand Park, there's a section in which was really this was like one of the early gentrifying areas of Atlanta. And we come up and we pull up and he's sitting there.
And I'm pulling up.
Cause I'm from Brooklyn, you know, I had never seen a black cowboy before. You know what I'm saying? He was like a black cowboy. First of all, I had to get over that whole fascination on it. He was like dark, like me cowboy and shit. He's a little old. He's like 44 at the time. And he says, he goes, he says, hi, Mr. Darcy. I'm Mr. Tyson. I looked, I said, I said, Hey, Mr. Tyson, how are you? I said, is this the house? He says, yeah, this is the house. This is my grandmother's house. And, um, how much you give me for it?
And I looked at the house, I tried to look professional, I tried to posture, I tried to give some movement, I looked at my girlfriend. I said, tell you what, Mr. Tyson, let me run some numbers. Because I heard him say that before. Let me run some numbers. Let me run some numbers. And I'm going to come back. And I'm going to I'll let you know, he says,
When are you going to get back to me? I said tomorrow at 11 a.m. He looks at me and he says to me, are you sure you're a real estate investor?
I just saw it through my whole veil. And I said, yeah, I sure am. I absolutely am. Jump in my girlfriend's car. I'm thinking, where am I going to get her? How will I sell this house? How am I going to buy this house? As I'm saying this, as I'm driving with her, I'm driving through, I look up and there's a sign that says, we buy houses. Back then, they were everywhere. The yellow sign. We buy houses. I see another one that says, we buy houses. Dishes are everywhere. We buy houses. I'm saying, well, these guys obviously know what to do.
So I start calling them. Hey, this is DJ. I'm a real estate investor. I've got a house for sale. I call another one. Hey, this is DJ. I'm a real estate investor. Finally, I said, listen, I'll bring the deal to you. You can see the deal. There's one guy, Tom answers. Finally, I call the guy. Tom says, I said, hey, I'm DJ. I'm a real estate investor. I have a house for sale. He says, oh, do you really? I said, yeah. He says, when can I come see it? I said, well,
I could take because we were still downtime. My girlfriend's car went to maximize use our car. I said, can you come now? He says, yeah, I'll come now. This guy Tom shows up. Clean cut. He looked like a doctor. He had like some kind of clasping on. Tall white guy, you know, the white guy thing worked for me, right? Tall white guy and shit, right? And he came through real clean cut and he says, well, let's go see the house. I said, no problem. I'll take him by show him the house. He absolutely loves it. And as he absolutely loves the house,
I said, well, we're going to meet Mr. Tyson tomorrow at about 10, 11 o'clock. Why don't you come on down and look at Dallas? He said, sure, no problem. So the next day he comes down, just like he said he's going to meet me. He meets me because Tom said he had the money. So when he has the money, he comes on back. When he comes back, we go to Tyson, said, Mr. Tyson, this is my colleague, Tom. Tom is going to be putting up the money.
For us to do this transaction, Tyson looks at me and says, oh, okay. He says, nice to meet you, Tom. Tom goes, nice to meet you, Tyson. And they kind of both look at, so I kind of felt the energy. Like they kind of look, Tom looked at him. He kind of looked at Tom and something about me kind of felt like the odd man out. I couldn't quite put my finger on it, but, but this is where it got interesting. They said, he says, well, how much you want to give me for the house? Tom says, I'll give you $40,000.
This is back in the early 90s. Had you already worked out a deal with him that, hey, whatever you're offering, tag 10 grand onto it for me? Not at all, because I trusted them. Well, he doesn't know he offered. Where did you think the extra money was going to come from? If he said 40, there's no extra money for you. Tyson wants 40. He's giving 40. And for you to say, great, I need you to give me five, he's going to be like, well, you should have told me that.
But we have to remember something very important. You don't know anything. I didn't know what the fuck I was doing, right? I had no fucking clue about the fuck I was doing. Call my dad. I'm in the middle of a deal. How hard could this be, right? Right, right, right, right, right. The mindset, right? So I said to him, all right, so Tyson said, so he says to Tyson, Tyson says, give me 44,000. I said to, because Tom said 40, he says, give me 44,000.
And they go, Tom goes, you got a deal. Tyson goes, great, great. No problem at all. And they look at me and they say, Mr. Darcy, do you want to do a contract? I said, no, I trust you guys. Why don't you do a contract? Oh, you really don't know what you're going to know. Nothing, nothing at all. Green beyond green. So I trust you guys. Why would I need a contract?
Matt, they both looked at each other. They looked at me. They looked at each other and that one connection they made was this guy could not pass. I felt the energy. I mean, it was palpable. I mean, you could you could taste it when they gave each other that look. I didn't know what the look was, but I felt the look. You know what I mean? And I couldn't put it together. So they both looked at each other. They said, all right, no problem. They look right calm. He said, all right, no problem. So sure enough,
We leave and then we leave and then we go. And I said, how long will it take you to close? Tom said, I'll close it in seven days. No problem. No problem. They said, Mr. Dawson, Tyson, Mr. Dawson, I'm going to call you once it closed. By the way, how much do you want off the deal? I said, Mr. Tyson,
Give me $12,000. It was just a number I had. Listen, I felt $12,000 was the number I had. I dreamed at this point in my life of having $12,000 at one significant time, at one point. Tyson looked at me. He said, same look again. No problem, Mr. Donson. No problem.
Thanks. I walked away. I looked at Lisa. I said, Lisa, we're going to be rich. We're going to get this thing going. We're going to be loaded. $12,000. I'm thinking, oh, I'm going to show this whole motherfucker. I'm going to get myself a car. I had the whole thing going, right? So we leave. I think it goes with seven days. Seven days goes by. 10 days goes by. I start calling Tyson. No answer.
About 15 days goes by, I called Tom up. I said, Tom, I haven't heard from anyone. What's going on? I haven't heard a thing. What happened? He says, Tyson didn't call you. I said, no, Tyson didn't call you. He says, let me call you right back. I said, all right. Calling back after that, a couple hours later, no answer.
Then 20 days go by and I'm sitting, I'm like, what the hell, what I'm talking to Lisa, I'm talking about cuz I'm like, I have a deal going with these guys, had something happening, what the hell is happening? So as this is going on,
I started hanging around real estate meetings, real estate associations. I met this lady named Lucille in the interim of me waiting to get disclosing that. This lady Lucille was about 70 years old. She was killing it in the real estate business. She was doing cash outs, which I'll get into what those were later on, but she was doing cash outs, absolutely killing it. So in her cash outs, she's making a hundred thousand here, a hundred and fifty thousand here. You know, when you increase the price up, create the equity, that was huge back then. You know what I mean? Stated loans, she was killing that whole shit, right?
She's making $100 kind of took me under her wing over this period of time because I took an injury. So and then how old was she? She was like 70. She was 70. And she was sharp. So she looked like she I swear she looked about 40. Okay, right. And, and at one point, I could find myself went to lunch, and she brought me down to lunch. She said, let me buy you lunch. She just liked me, you know, she was kind of mentoring a little bit. I sat there. And I said to a loose we're sitting at this coffee shop. And I said, Lucille,
I did a deal says you did a deal. She says, Yeah, I said, I said, would you? She says, Oh, would you do the deal that she sipping a tea? I said, Grand Park in the middle of you did a deal with Grandpa. I said, Yeah, I said, she said, she said, how much? How much did you sell the deal for?
I said, well, we sold it for $44,000. They're going to give me $12,000. She says, how did you do a deal in Grant Park for $44,000? I said, that's the price. I got it for $40,000. She said, houses in Grant Park, the after-repair value are like $350,000. She says, that's the after-repair value on those properties. She said, did it need work? I said, yeah, it needed work. She says, was it a big house? I said, yeah, it was big.
She says, how do you even get it that low? And she said, how do you even suffer? She says, let me see your contract. I said, I don't have a contract. So you have no contract. She says, how did you do a deal without a contract? I said, Oh, well, Mr. Tyson, and Mr. Tom, I trusted them, and they're going to set me up with the deal. And they're going to do it. She says, you're crazy.
She says, first of all, a deal like that, we could have made, you could have made 50, 60,000 easy on that deal. I'm like, what? Those are numbers I hadn't even heard of. She says, oh, no, you got to call them back. I said, I've been calling. No one answered. I ran back. She said, go back. Fine. I go back. I call. Now we're into the 25th day. Now we're into the 30th. Now I'm calling this guy 10 times a day. I'm like, what the hell have I done? I'm calling, calling. Finally, on like the 35th day, after calling, phone me.
Hello, Mr. Tyson. This is Darcy. I've been trying to reach you. I haven't heard from you. I haven't heard from you about the deal. I need to talk to you about the... Mr. Darcy, you call me more than my bitch. Excuse me, Mr. Tyson. You call me more than my bitch, Mr. Darcy. Now, Mr. Darcy, let me be honest with you and let me be frank with you. You're not getting $12,000, Mr. Darcy. I'm not. No, Mr. Darcy.
But what I am going to do for you, Mr. Darcy, I'm going to give you $3,000. So, man, $3,000 might as well have been 300 grand to me at the time. Right. So, literally, I'm not bullshitting you. $3,000 is like 300 grand. That's change your life. It's a life changing money, right? Three grand, right? So he says, he says, Mr. Darcy, I'm leaving town in about an hour.
You need to meet me down at the Wachovia Bank on Lee Street. I'm going, this deal is already closed and I'm going to give you $3,000. If you are two minutes late, Mr. Dawson, you're getting nothing and I'm going back to Alabama.
No problem, Mr. Tyson, I'll be right there.
I said, I'm going to pick you up. I want you to come with me. I'll run down, pick her up real quick. We're going down to meet him at the Wachovia. As we pull up to the Wachovia, I'll never forget this. Mr. Tyson has the pickup truck, the back of his pulled into the Wachovia parking lot in front of the bank packed with boxes.
There was a pit bull in a crate, within the boxes, packed up also, right? And he's standing there on the back of the pickup, like kind of leaned on it. A brand new, beautiful cowboy hat.
He has a brand new cowboy book with this huge silver buckle looking like motherfucking Numa and beautiful cowboy boots. He sees me pulling up and he kind of leans on that truck with the hat and he looks at me and he goes, I pull up again. I said, hello, Mr. Tyson. How are you? He said, Mr. Darcy, I was just about to leave. I said, this Tyson.
Pulls it out. He says, here's your $3,000 cashier's check. I got it just for you. I said, thank you. Mr. Dawson took me a lot of gas and time to get down here. I require $100 of this $3,000. I said, how am I supposed to give you? I have no money, Mr. Tyson. No problem. Let's go inside and cash it. I said, okay, Mr. Tyson. We're walking in. He's got the $3,000 check. We give it to the cashier.
He's standing next to me, standing next to me in the little cage back then. This is before the bulletproof little cage. And she gives the check, and she gives the check. We're both standing looking at the cage, and the cashier is counting. She's counting one, two, and I'm watching each one. I can't believe the flow of these hundreds just hitting and hitting. And these hundreds are coming through, these hundreds. And they're coming through, coming through, and then when they get to the last one for the third $3,200, $3,000, and he takes it. That one is mine! He takes it. It's $100.
And I grabbed the $2,900 in my fist and we're walking out the door to Wachovia. He's walking, but I'm like, Oh, I got to get the fuck away from this motherfucker. But I got the $2,900 we're walking through. He's behind me as we walked through at the door. My car is over here. My girlfriend's car, Lee, uh, Lucille sitting in it. He's going to create a truck with the dog and the pickup and all that shit in there. He's going his way. And as we're moving away separate, I'm walking to that truck. I'm like, Oh God, I got to get the hell out of here. And he's going to his car. I hear him say one more time, Mr. Darcy.
I turn around and say, yeah, Mr. Dyson. One more thing, Mr. Dyson. What is it, Mr. Dyson? Welcome to the real estate business.
I said, thank you, Mr. Dyson. True story. And that is my first deal I ever did getting into the real estate business. It was the deal from hell. Now, you got the three grand. I got $2,900. I didn't get three grand. I got $2,900. Now, hence, let me just fast forward this. Of course, would y'all get into all that?
My shit took off, right? I eat, slip, breathe, sleep in contracts, right? I marketed the whole fucking city, signs everywhere. Darcy Richards, property specialist, property specialist, we buy houses. I fucking put thousands of signs through that motherfucker. I made myself famous in that city. Two years, two years later,
You got arrested twice for selling rock. Did you get probation? Did you get thrown out?
So just not go back to court. No, no, no. So in that part of it as I went through that two years of building the business up. Yeah, I build up the entire business along that time and because I started buying properties up and down.
The city, I literally started marketing like a maniac. I started doing deal after deal, flipping contract after contract, flipping the contract machine. By this time, flipping contracts, I'm probably making some way, I'm probably doing a deal a week, right? Within the first 12 months, I'm probably, 12, first year and a half, I'm doing about a deal a week. So I'm making anywhere from three to $10,000 a week by then. So as I'm flipping contracts, now I'm knocking on doors, doing the calls, I'm a big one at telemarketing. Through the process, I meet a district attorney, an assistant district attorney.
And her, uh, beat this as a district attorney and she not became friends. We weren't kicking anything like that. We were just friends. I supposed to do a deal on her house. Let me back up. And along the time with her, I had done a deal with the judge as well too. I flipped her properties well also. So I'm making myself a real name in the community. Hence the district assistant, the assistant district attorney I became friends with at one point I could find it. And I said, listen, I know you work downtown.
Here's what I was doing prior in my former life. I was selling rock on the corner. I changed my life around by changing my life around. I got into real estate. She couldn't even see it. She said, how long ago was this? I was like, this is like a year and a half. She says, you've been flipping. I've been watching you flip houses left and right. How the hell are you in a year and a half going? So I said, well, all I've done is just focused on this day and night, night and day. Well, when the time came for me to go to court, I ended up going down to court. They went and spoke to the judge.
So she went and spoke to the judge, the judge that I flipped her project went and spoke to the judge. And well, they spoke to the prosecutor, the prosecutor spoke to the judge. Let me flip it that way. Right. They actually spoke to the prosecutor. So I'm in front of the judge. This is about a year and a half, two years later.
He said, Mr. Richard, I've heard about what you've been doing. I've heard about the remarkable way you've changed your life around such a short period of time. People down here seem to know who you are. It was really two people, but it just kind of had that kind of ubiquitous feel, you know? And he says, listen, this is what I'm going to do for you. I'm going to give you for two cell cases, a first offenders. He says, this is going to be in your record for a year.
After that year, we're going to totally cut it off expunged expunged nice. But if you get any other trouble, I'm going to give you 40 years. That's what he told me. And that's what happened. So you went the whole year. You're good. Yeah, I had no problem. Yeah, my problems came later on but but
That's what I was doing. I was flipping those contracts day in day out day in day out and the business just took off. So some flipping contracts. Okay. So real quick for the purposes of people watching flipping contracts is he's going out and he's convincing a homeowner who's selling their house to sell him their house for $50,000.
He doesn't have $50,000. He's not buying it for $50,000. He's been turning around and going to an investor that's going to sell that house. He goes and says, look, I got a contract in this house for 50 grand. I'll give it to you for 65. Guy goes out. He looks at the house as I'll give you 60. He says, okay, no problem. But then the day of the closing, sometimes, sometimes it's just an assignment fee. But sometimes it's called a simultaneous closing. Same thing. Same thing. Well, an assignment would be different. Sometimes you can just sign the contract. So what happens is,
That guy buys a house for 60. He gives he gives Dawsey $10,000, right? So sometimes you're just assigning it and at closing you get a check. Sometimes you'll close first on your $50,000 sale. So you're closing at 50 and then he comes in and buys it immediately from you for 60. Usually they buy it for 60 before you've even bought it for 50 because it's the same. Absolutely. You know, that's hard if there's a mortgage company involved. But anyway, that's what he's doing, but he's doing it.
There are guys that make fucking hundreds of thousands of dollars and you don't need a license. I'm just saying the average guy like if you're just the guy buying and selling buying some of these guys that that's all they do is knock on and that's not that and that that's hard. It's grueling work. It just pay. So if you have a talent for knocking out that kind of grueling work, you can really take off with it. If you can take the rejection and not let it basically make you want to
Off yourself, you know what I'm saying? Like you got to be able to knock on the door and have him say, no, I'm not interested and be like, okay, thank you very much. Here's my card. If you change your mind and go to the next one, go to the next one, go next one.
Because you only need one to hit, one hits and boom, 10 grand, 20 grand. Yeah, and it's a numbers game. Yeah, because the idea is you're making offer after offer after offer after offer after offer. It is brutal. It's intense and it's brutal. Forget about having a social life. But when you're looking to come up and make some money and you're broke, like I was broke. Are you kidding me? You could have told me work. I was probably working anywhere from 12 to 15 hours a day. Do you go for $200 a week?
I was making $10,000. Put it this way, by that second year when I was in court, I bought a brand new S500 back then, S500 Mercedes that ran me like 90 grand and put like seven $10,000 rooms on it. I had houses that was renovated. I mean, you know the whole story. The idea was that, again, the beautiful part about flipping the contracts was that I didn't own anything. I had nothing in it. I just needed the numbers to work.
Yeah, I met and negotiating and negotiating as they're getting as much equity as I could in the deal through Negotiating that price down allowed me to flip them quicker and faster and I had a knack for it And the idea was I would just call and call and call and call and call. Hello Hey, this is DJ property specialist just going to let you know in the Atlanta area making a number of cash offers on properties We understand you're the owner of two two two challenge Street. We'd like to let you know we'd like to give you a call tomorrow with a cash offer hopefully
One, you may be interested in entertaining. I understand it's a three bedroom, correct? And that was the pitch over and over and over and over again, and just starting negotiating deals. So it took off. I made a ton of money. Suddenly I was getting
You know just just a lot of recognition people love the fact that the deals I was doing I was meeting other people in the community my social services. So by this time it had to have been I started 99. This is me in 2001. Okay, so I thought I was just at the pinnacle.
I just thought I was at the Pentagon because I was making like $10,000 a week. What's your dad saying? Is your dad like super? Oh, everybody's proud. Everybody thinks I'm doing great. And flipping contracts is perfectly legal. So again, it was just a miraculous story. You know, the women, you know, fortunately, I left the girlfriend, you know, and
Uh, moving to my house, uh, in West End section. We worked out of there. I started recruiting people, started building teams, started building. By the way, I ran into Mr. Tyson again later on when I was successful. And, um, yeah, that was crazy. One day, like I told you, I had done that $90,000 deal. I'll never forget that one was a deal. I made $9,000 because the deal had gotten bigger because we started doing cash outs and things of that nature, which I'll get into that. But I was, uh,
I called it right said there was a there's a restaurant with everybody to eat. I can't remember the name of it. I think it was like chanterelles or something like that. I said just meet me down there. I said come on down. It's like two years later. So as we're coming through I come out to close in. I'm taking everybody to lunch. You know the lunch closing when you do the closing to get around lunch right and I'm pulling in I got a Mercedes not pulling as I come but you gotta remember my name is all over the city on those on those signs. It's like a billboard. Those sounds like free billboards. They're like everywhere across the city.
So everyone knows who I am by the name, right? So as I come in that store, as I'm coming in the restroom, my friends are there, I'm walking in the door, I park the car, I'm waving at them through the glass, they're like waving back, the little team. As I walk through the door, I go, I'm like, hey, I'm walking right here. Oh my God, stop the presses, Mr. Darcy.
Listen, as I stopped the hears on my back, stood on my back, I turned around and looked and that black cowboy had stood up. Mr. Darcy, everybody, everybody, this is a millionaire, a millionaire, Mr. Darcy. He says, Mr. Darcy, he says, I've been hearing about you seeing your signs all over the place. Look at you, Mr. Darcy.
New hat, new shoes, new clothes. Look at that car. He says Mr. Darcy.
You should give me some money because it's because of me. Why you got where you are? Look, I say you are absolutely right. Mr. Tyson. Yeah, I'm thinking myself. Fuck off. But I think nothing. You're absolutely right. Mr. Tyson. You're absolutely right. Good to see you, Mr. Tyson. He said, Mr. Dawson, we need to stay in touch with no, thanks, Mr. Tyson. Enjoy your lunch. And I would have said that I did have that running from him. So
I was flipping contracts and I was killing it. Flipping contracts. I started doing, you know, I just always made money at flipping contracts. Then I started doing what I call cash outs and that's where things got, that's weird. Questionable. To say the least. So I don't know if your audience knows about cash outs. So, and I guess to explain, you want me to explain?
During the height of the real estate loose lending, it was a practice that real estate investors had where you would increase the price of the property
Right. You'd increase the price of that property, and by increasing the price of the property, let's say the property was worth, hypothetically, as is $100,000, appraisers would turn around and actually appraise it at $200,000. When the seller only wanted $100,000, by doing that, it allowed you to pull out $100,000 in equity and increased value and put it back in your pocket while
The seller took their $100,000. So the property is really selling for $200,000 or really selling for $100,000. You just got the value appraised at $200,000. You pulled out the $100,000 by pulling out the extra $100,000 in equity. They got $100,000, which was their base sell price, and then you took out the other $100,000. To many people, the novice,
They say, oh, what's wrong with that? Well, that's mortgage fraud. Yeah. Yeah. And the problem with the mortgage fraud in that is that that's not the actual value of the property. Then of course, you know, there was all the paperwork being done to support that as well, too, which just kind of adds to the
What's so funny is that because typically a seller has no clue what's happening when you go in and say 200, I would go in and I'd give them the contract for 200 Rand.
And they go, it's 200 grand. I know, but we're going to be doing renovations. And because it's a construction to permanent loan, which it's not, I'd say we're going to cut $100,000 to the construction company. And I actually had a construction company. So we'd go to close. I'd get the loan from the bank for the 200,000, go to the closing. We'd close. You get your 100 grand. The other 100 grand would be cut to a construction company. There would be a provided invoice.
And they would get that money and we would provide an appraisal.
To the lender saying that there had already been $100,000 in renovations. So it to everybody involved. It looks legit like the the seller thinks. Oh, this is for the 100,000 for the month. The renovations that are going to be done. The bank thinks that 100,000 is a payback. The contractors who have already done the work and nobody, you know, because one hand doesn't know what the other hand is doing and everybody involved. You'd have this free flowing conversation where it looked a very above board.
The title company knows about it. They're cutting an official check to this corporation. It's big. It was so funny. You'd walk out there like I just committed $100,000 in fraud and everybody's perfectly aware of it. And yet nobody seems to understand that it's it's fraud attorneys were happy with it to attorneys did it all day long as well. The attorneys did it. It was such a common thing. Yeah, illegal illegal. You know, it's like it's like it's like selling rocks.
It happens all the time and it's always illegal. It's always illegal and without a doubt about it. And yeah, and you know, the funny thing about it was that it was so common, but there was just so much money and it was just all around you and well, you know, like becoming bold and every time it goes through, I was just about to say that I was just about to say you become emboldened and really, you know,
What's funny about is I get more into my story about the real estate business and then I go into the story about the real estate business. It is amazing how you could have a legitimate business.
But it becomes enamored and fraud by going a little bit. Oh, it's like, how do you boil the frog slowly a little bit a little bit a little bit incrementally it really makes you know, your business is just is just you're doing far as a you know, and the thing is with finance and finance runs with fraud finance Wall Street the whole gamut there did so much fraud is based in it that people are doing as a full course of it. Then of course, you know,
And it was perfectly okay. Like now I you know how sick to my stomach any one of my transactions that I did that I thought nothing about and I was bold walk in argue yell everything whole things brought I'm arguing this no give me this no walk away then walk away. I mean just in bold if I was we're doing one of those transactions to this day.
I'd be puking in the park. I'd be terrified right now. Because you can't do the time. Right. Exactly. Because you can't do the time. You can't do the time. You don't know what it means. Right. You can't write. And once you get the time and you're doing the time, you're like, what the fuck have I done to myself? Right. Absolutely. And that is the that's just a whole nother story.
Yeah, so we started doing cash outs. So when I added the cash outs in my business, I was still flipping contracts, but I was flipping contracts also by way of cash out. My income absolutely took off. That's where the women came in.
The fly apartments came in. That's where my cars went from Benz to a Bentley. That's where the whole thing just started taking off across the board in that respect. So I have a question for you too. The other thing is you're making about 10 grand a week. No, not the cash flipping flipping those contracts, right? So you make it roughly 40,000 a month, right?
20 years ago, 20 something years ago, right? That's like half almost that's assuming 40. That's almost half a million dollars. It in here's the thing because I'm only asking you because I've been asked the same thing. So I know my answer. I know your answer is that is that you know, like like what and it was legal. It was legal. I think contracts, you know, why wasn't that enough or did it?
I'm sorry. What I want to know your answer is you know, I think really happened. I know it sounds crazy. What I want to say to you. I've always been an avid reader. I've always read a lot and I've always read about people doing business hustlers on Wall Street. I could be anywhere from Sandy Wells, Michael Milken. I've just posted about all these people in prison, right? It could be it could be about all, you know, all the players, right? And what happened with me is that
You start off saying I need $3,000. It's like $300,000. I'm not three grand. That's the deal. I will remember to the day I die. That's the deal at six. But what happens is that you're you're not on Boulevard anymore. That's why you sell drugs at right. You're not on Boulevard anymore with my kids anymore. Now you're hanging out with Kim Porter.
At Houston's on Peachtree Street, you're hanging out with women that have $2,000 boots on and $2,000 purses and hair weaves that cost $400, $500, $600. Your crowd changes. So when your crowd changes your environment. And again, I was reading about people who were making, you know, $10 million a year.
So suddenly, and the more I kept reading it, the more I kept saying, if I can go from here, can I get there? And it's just a competitive, driven, greed-based edge. That's where my mind was. And that's what happens when you get in that environment. Because suddenly, when you're hanging out with someone that makes
$40,000 a year and you're making $10,000 a week or $40,000 a month and then making $40,000 a year. Oh, you're doing great. The problem is, is that you leave that crowd, you leave that environment and the money allows you go into another crowd and that other crowd. Now you're the poor kid. Now you're a poor kid. $40,000. $40,000 is, uh, um,
A year is not such a month. Excuse me, a month is not such a big deal. You know, so things, things, things, things really took off. There was a, I'll tell you, when I got into cash outs and I saw the power of cash outs, I'll tell you what happened when I truly, truly, truly, truly, truly, truly, truly saw the power of the cash out.
And this is where things just really just again add these points where things where they were just like these pinnacle these game changers for me, right? So as I'm doing any deals, flipping contracts, flipping contracts and mixing them with the cash is I come across this lady. This lady's name was I'm not going to use her real name. I'm going to say her name is Miss Barbara, right? So Miss Barbara was an old school real estate investor.
That well, she was in a real estate investor. Her husband was a real estate investor. So this is like that old Atlanta kind of money type of thing. This woman, by the way, was just she's like 75 years old. I called her one day to, hey, how you doing? This is DJ Rich's property specialist. Hey, the whole pitch. I like to take a look. She says, yeah, I have a property on 222 Ashby, Ashby Road.
I said, great. I said, we'd like to make an offer on it. Now mind you, I'm making an offer talking to her on the phone. She says, I'm looking at the comps, the comps on the property about $280,000 back then. I said to her, what can I do, do all cash offers? How much would you like for the property? I can close it in 10 days. She says, will you give me $12,000?
So I'm thinking, I'm like, did I not hear it correctly? Right. I'm like, so I'll pause. I'm like, I'm sorry. Cause we're on the phone, never met. I said, I'm sorry. She says, um, um, can you give me $12,000? I said, um, absolutely. I can give you $12,000. I said, from that fact, I could, I said, but what I'm going to do for you is something special. I'm going to close all cash and close this deal for you all cash.
in 24 hours. Could that work for you? She said, because I'm thinking, but they might get this deal off the table now. Don't get the deal off the table. She said, sure, no problem at all. I said, absolutely great. I said, again, I said, what I like to do because I spend a lot of time working with people in the market and I always want to make sure that I do have a relationship that is solidified, that I do make sure that we do create that relationship. I'd love to come by and meet with you
And bring over the purchase and sales agreement and we can endorse it there and I can actually expedite this process very quickly for you. Great. I said, well, can I come by? She says, sure. Here's my address. I go jump in my car. Shoot right over there. Get there.
She goes there, this one was like 75 years old, but you could tell, man, when she was younger, you could tell she was fine, she had all this long Indian hair. She was like really thick, she's like, you know, I mean, don't get me wrong, I'm not chasing no 75 year old, but she was fine. You could tell she was like bad back in the day. I'm like, oh shit, she's fine back in the day, right? So I said, so good to meet you, Ms. Barbara. I said, hey, my name, you know, my name is Darcy, so good to meet you. I said, hey, listen,
Let's get this deal closed. I can get the deal closed to you very quickly. And she says, sure, no problem. She says to me, because she's in the kind of like this. So there's an area called Collier Heights that was like the old black established
progressive, upwardly mobile black neighborhood in Atlanta in like 50s, 60s. She was still there. So she was kind of like a holdover from that era in that neighborhood, right? So you kind of get the idea of this kind of southern kind of elite of the time that was there. So she has a nice home, but it's an older home, right? So she says, but it's an older house, it's not a big house, bungalow style maybe,
13, 14 under square feet. So we're there talking. I'm still with a couple hundred thousand cleaned up, right? He still worked a couple of dollars to clean up. But it, but I said, how did you get, so I said to her, she says, yeah, my husband, she's, we're sitting down there. She says, oh yes, my husband, he died. But he was a real, he was a, it was a contractor and he just buy a house, buy a house, buy a house. And I'm writing, that's fantastic. And I said, well, where's your husband now? And she says, oh, he passed away.
Yeah, he bought over a hundred houses. So I'm like, I said, is that right? Really? He says, yeah, he bought over a hundred houses. She says, so I've been selling off a few of them. I said, that's beautiful, Miss Glass. Miss Glass is there with this shiny silver hair. She's an older woman. Just gorgeous, right? And she says, I sold the house last week. Would you like to see what I bought myself?
said, we'd like to see what you bought. She says, yeah, she says, come on, let me show you. So okay, never in this woman's house, we stand up and we're walking. So it was like 75 kid, you know, we start walking through the living room. We walk into the kitchen. As you walk into the kitchen, there's a window, smaller window, those older homes, and it's over her carport. The car goes right to carport right there. Just take a look. She pulls a curtain back. And
Sitting there is a brand new, fresh out the box BMW M5. I said, wow, that's, that's a beautiful car. She says, oh yes, that's the M5. I always wanted it. I said, yes, like I said, I always wanted it too. It's like, that's as beautiful as like 80 grand. It's beautiful. She says, oh yes. I said, do you get to drive it often?
She just know the young man down the street comes by three times a week and he drives it to take me to get my groceries. I said, Oh, that's beautiful. Ms. Glass. Very nice. So we go back, sit down. I do the contract. Sure enough, to my word, 48 hours later, we're there getting the contract done, pay her the deal. The deal is done. As we're leaving in the parking lot, the clothes are turning. I said, Ms. Glass, do you happen to have anything else out of clothes?
She says, well, I have five more, but there's only one problem. I said, what's that, Ms. Glass? You're going to have to give me 15,000 for those. My God. I said, all right, Ms. Glass, I think I could work that. I'm actually giving away a real name now. It's, uh, Ms. Barbara, right? It was Barbara, right? I said, um,
I said, I said, okay, I said, I said, would you allow me to own a finance those? She's how much would you give me down? So tell you what, I'll give you $10,000 down and let me own a finance up. But I will give you the $50,000 again, in 48 hours. Sure, no problem. So what do you mean? So you said they were, they were 15,000.
15,000 a piece. I'm going to $10,000 and there's five of them. Okay. Oh, okay. Sorry. And the comps range anywhere from $75,000 total. She's going to own her finance $25,000. You give her $50,000, she own her finance $25,000, which is five on each property. Yes. The average comp on those deals were anywhere from $250,000 to $350,000. That was the deal. So her and I, we do the deal.
Get the properties. I do the deal so forth and get the deal in the contract for you. I was like, so I've got I've got five of these properties. I've got five of them and I'm thinking so back then you had some of these people, you know, when you flip contracts that you always look for this. You always look for the sucker money.
You know what I mean? Dumb money, right? People that don't really know the deal but they're ready, they get in the business, they're excited, they're running, they're selling across the board, right? So I had these buyers that bought cash out deals, they bought deals I used to flip deals to. They always overpaid. They always, always overpaid. So I showed them the deal. As soon as I got the deal, I said, I'm flipping these. I'm flipping these off the rip. So I had the deals.
I said, uh, I said, I need to, you know, I want to do the deal. I want to get them sold, call them up, quote my gospel. Hey, I got these, uh, five deals. I want to turn around. I want to sell these deals through. I want to get these deals sold. I said, listen, they're worth about $300,000 each. They ran a comp. So they got excited. They said, yeah, we got to get these out. This is what everybody's friends, you got to get the deal. We got to get these deals. We got to get these deals. No problem. No problem. Turn around. I sell them to deals for a hundred thousand each. They turn around.
They sell the deals for $125,000 each. They're making like $25,000 each one. They don't know how much I'm into the deal for. They don't know how much I'm into the deal at all for. They're rushing to get the deals done. I'm pushing to get the deals done to get Ms. Glass out of the way, because I close with Ms. Glass, but I still want to get her out of the way. We go up to the closing. We go up to the closing about maybe 30, 40 days later, because they use conventional financing with it.
I think with this deal that I did with them, by the time it was all said and done, we went up there, we did the deal, flipped the contracts to them, sold the deals to them. They brought their buyers in. So I closed owner finance, sold the deal to them to have a contract. They went and just parsed it out to their network. They sold it to their buyers. I'm sitting up there at the closing attorney's office.
It's just signing, just signing, just signing, just because for each closing that's taking place at the attorney's office. I'm sitting here signing, signing. I'm at the conference table, because when I got to the people in the waiting area, everybody's there to close their piece of the deal. They've got the deal up there and I'm sitting in, I'm signing, signing, signing. As I got through signing, signing, signing, at the end of it, signing, I'm sitting at the head of the conference table because they were ushering the people in back and forth. The attorney came in and
All the people there, you know, and they said, Thanks, we appreciate it. You guys did a great job. Thank you so much. Mr. Richards, here's your check. And they slid across a check was like $525,000. Man, when they gave me the fucking check, listen, I said to myself, I said, stay calm. Stay fucking calm.
i'm lucky i'm saying get the fuck out this room now
I'm looking and first thing I'm thinking I'm like kid after I'm looking the attorneys here the guys here they smell now the guys are looking and they realize because they didn't know how much they didn't know what my payoff was when they're realizing what the payoff was and what the check was across the board and I've got that check for 500 and I'm thinking now these motherfuckers are looking at me like Quinte Quinte right there I'm like I gotta get the hell out of here right yeah I take that check and I slid the fuck about that closing table
I went out that door.
That's right. Thank you so much. I appreciate every last one of you. I took that check. I went downstairs, jumped in my car, went to Houston's restaurant across the street, which you know, Houston is really dark. This is one of those on West Paces Ferry. Went into that motherfucker, crawled my ass into the back of Houston's, thought I blended in the dark because you know, they have the dark them lights. I'm dark. I didn't want anybody to see me, right? I'm in that motherfucker and I just looked at the check and that was the time I got $525,000.
Off of a deal probably in about 45 days, but you have to remember this is around to just like 2001. I did this. This is like 2001. I turned around took the turn around took the check deposited the check in the bank. The bank I deposited check in there was a girl down there that I used to have the hots for her name. Candice if you're watching this as I'm talking about you.
Her name is Candace and she would brush me or brush me fine. Back then she was young. She had the hair. Look, this is bad motherfucker, right? And she would kind of brush me. I was getting some money, but you know, but this particular check with the money I put in the bank and with the cash I had been already accumulating for my deals. This kicked me over.
The million-dollar mark. That's the other part about this. That was just symbolic because I put the check in with the other funds had already been accumulating this literally put my account literally my account. I was over a million dollars in my account first time and I put the money in I said by these Candace here because I wanted to see me put it in they said, no, she's not sorry, but just tell I want to say hi, you know, you know, I'm trying to catch you know, she brushed me off. You know, I got a boyfriend just there. I'll put that check in the account. They said she's at lunch.
I went home. My phone rang hour and a half later. Hello. Hey, how you doing? I said, Hey, what's going on? Would you like to go to dinner tonight? Absolutely. I knew that that check, that money was the first time I saw
what really the type of women I wanted the type of crowd I wanted to be around the type of funds I went around and that was when the mindset of I wasn't thinking in terms of 10
50,000, I was thinking in terms of millions, always in a million, always in a million. So I need, it just really just accelerated my appetite, accelerated me for, and that was like my first lick that put me over the million dollar mark. And that's really what accelerated me into upping my game and getting into the next level of deals. By the way, the next level of deals, this is what landed me in prison. The new era
of deal making that ushered into, which was when I got into the condo, condo conversion, condo conversions, condo conversions. And that's what really
That but the point of that story for me was just it just you know when you're really hustling and you're you're you're you know when you're like really living that shit I ain't talking about hustling and going home and fucking being home for dinner with your kids and shit like that when you're like listen
I don't give a fuck. I want to get seriously, seriously paid. I want to put the points on the board. It's like being the NBA going to play ball. I want to get on the court, pass me the ball. I want to show you motherfuckers I can dunk too. Right? I want to show you that my black ass can dunk. You know what I'm saying? You want to really let them see it. You know, the mindset and the mentality, it starts to really evolve and go to another level. So
I'm flipping contracts, flipping contracts, flipping deals. My whole deal program is gone, but I'm looking on how to elevate the step, but I'm really am at this point. I'm really am killing. I had a girlfriend at the time. Another girlfriend time ended up living with Sharon. I were living together and we were living together. Things just Things were just going south between us. I was in the streets.
I was in the street. I was also in the street. The women had changed the party change. Suddenly, you know, the women were just going out with the friends that the crowd. I was going, you know, I was I was the first person in Atlanta. In 2004, I bought I was like one of the first people to brand new Bentley GT Cooper. They came out the two dog. So I copped one of those. I still had my brand new bands. I was just rolling. So my arm
My girlfriend and I, we had like a really nice contemporary townhouse that, yeah, remember that, Al? Remember, we had this really nice contemporary townhouse and
You know, shit just wasn't working out. She said, listen, you're not coming home at night. I said, well, I pay the fucking bills. Why would you want me to come home? Do I have to come home? I'm paying for this shit. She said, what are you talking about? I love you. This, that, the other. Of course, I was completely disconnected. I'm like, what are you, what the hell are you talking about? I'm getting money. I'm making sure you straight. And my view was you wouldn't have been fucking with me anyway if I wasn't getting paid any houses. So enjoy the fucking ride. And she says, no, but I love you.
Okay, so the shit, so one day, one day I'm not working. So one day I'm not working. I feel bad. I feel bad. Because the thing really is, is that when these like, you know, when you start, you know, when you start getting paid and everything elevates, everything moves forward, the one group of people leave the room of your life and a whole new usher in.
And that shit is superficial as fuck, and you love it. And you love that shit. Did you get that? I really got a TikTok. But so it completely. So when she said, I love you, I love you. You know, I mean, I love the two, but.
Never been anything more insincere Well, here's the thing as much as one of my kids mothers once told me I believe you love me the best way, you know So I'm at work one day again, I wasn't coming back home wasn't come back home I'm living with the girlfriend shit is rolling shit is moving and she comes in one day cuz I wasn't there and and I can't I guess she got frustrated I'm sitting at the office and
And the office is maybe two miles from my house. And she come through, she walks through the door. She says, look, motherfucker, I'm sick of this shit. I'm not going to be taking care of this shit. I'm not going to be doing this shit. Yo, motherfucker, I'm here for you. And I'm doing this for you. And I'm doing that for you. And she's yelling in the middle of the office, you know, people are there, you know. I said to her, calm down. Nah, motherfucker, we're going to do this. I said, listen, do me a favor. Just calm down.
Let's take a minute. Have a seat. I'll be right back. Walked out, walked out, jumped in my car, drove to the condo we're at, the townhouse, packed my shit up, put it in the car, put it in the hotel, came back. I was like, listen, this is not working out. We need to do our separate way. I left. When I left that place, I went and
On 14th Street to Mayfair, I walked in the door of the Mayfair the next day and I asked the lady, I always want to live in the Mayfair. Have you ever been in Atlanta? Is that a hotel? It looks like a hotel, but it was a condo. But in 2003, we're in 2003 right now, the Mayfair was the shit.
Oh, this was just like it's just it's just had the all the decadence and all the all the finishes and what you know, you had to use the key to get in and all the concierge. It just had the whole the whole shit. This was oh, this was you know, the walk in, you know, in the middle of the city. This shit look like Park Avenue, right? And I just want I said I actually won't put Beyonce have a condo in it. She had sold it by the time I got there. But this is just the level of what it was for that day for that day. Right. So I go in there.
And I walk into the main field. I was like, I looked, I'm like, this is where I need to fucking live. This is where I need to be. I had just copped the Bentley. I said, this is where the fucking Bentley needs to be. This is it. So I said to her, I said, I walk into Lisa's office, black shit comes out. She's about my age at the time. We're both maybe at the time, like 32. And I said to her, how much is a two bedroom condo? She says, oh, the two bedroom condos in here are
No, she is looking at me like $260,000. I'm like $260,000. Says, yeah, he builds a high rise, beautiful. This is like the pinnacle of the city. It says $260,000. I'm like $260,000. She says, yeah. I said, is that the biggest one? She says, yeah. I said, you have anything nicer? She goes, the penthouse. I said, well, how much is that?
She says, that's $800,000. A huge jump, but okay. I said, okay. I said, can I see it? She looks at me. She says,
All right. Well, I'll show it to you. She's a little apprehensive and shit. I got jeans and shit. She can't see my car and all this other shit. And I got jeans and dishes. I'm like, all right, I'll show it to you. So remember, this is this is the shit I've been dreaming about. But I've never been in a penthouse. And I'm just asking this shit because I'm meant to explore into 250. I know I had that. But I said I could pay more. Right. So she goes,
We get in the elevator, she pulls the key out, beep, to go to the penthouse floor. That beep in 2004, 2003 was serious shit in 2003. I was like some serious shit, beep. I get in that shit, we start going up and I'm thinking as we're riding up, I'm like, man, if they could just see a nigga boy. You know what I'm saying? This shit is crazy. We're just riding up and we're riding up.
This is like crazy, right?
This was like crazy we're riding up we're riding up we got just like a like four units there for each corner right bro she opened up the door to the penthouse she walks in she opened that shit up it's like the sky opened up in that fucking penthouse the floor the ceilings the hardwood floors the windows had just kind of wrapped and opened up it was just
You know, I look, I said the kitchen, the granite. I said, I said the terrace, the terrace was just, the air was so different. There was three terraces and the air was, I just said, this is, I looked at her. I walked in there and my heart racing. I looked at her. I said, I'll take it. She'll take it.
I said, I'm going to, I said, I'm taking, I'm going to close on it. She says, are you sure? I said, yeah. She says, uh, okay, let's go to do the contract. So we jumped back in the elevator. We go back downstairs. I'm excited as hell. It's black chick, you know, good looking girl. She's got her suit on. She says, all right, she says, good. We're going to, so I could tell by her disposition, though, she's something about me just isn't quite
You know, maybe my just isn't really resonating with her, you know what I mean? So as we kind of going back downstairs and we're riding back down through
And I'm right there with her and we're riding down and we come down back down to the concierge. She opens the door up and I see I see the white people with the dog come walking in. I'm like, oh yeah, the white people with the dog. This is the shit, right? I said, this is where the fuck I need to be. They come walking through and we go into the sales office and shit and we go there and we sit in that damn sales office and I sit in front of her and she says, all right, I'm going to do the car for I'm going to do the contract for you now. She says, uh,
So this one is $800,000. She says, is that your overall? I say, I'm fine with the $800,000. She says, good. She says, all right, how much earner's money are you going to leave? I said $1,000. She's not at this level, you're not. She's like, what? I'm going to leave $1,000. I'm like, yeah, I'm actually going to leave $1,000. She says, listen, sir,
Are you going to be here to waste my time? I'm not letting you leave $1,000 to earn this money. And I'm not sitting here wasting my time doing this paperwork. So, sir, people leave 1% earnest money, which would be about $8,000 money for these properties. They leave in 2-3% these properties on demand. This is one of our last penthouses left. I said, ma'am, I'm going to close this deal. I'm going to get this penthouse.
In three weeks, I'm going to leave you $1,000 earners money. I'm going to close our cash. She says, sir, I'm not doing it. I'm not filling out the paperwork. I said, miss, just submit the offer to the seller. Who's the seller? She says it's the company that built it. This was the last units they have left. I said, good, even more so because you know, when I heard that this is one of the last units they have left, uh,
Hold over. I said, Miss, just submit it to the owners and I'll do the, just see what they say. She said, no, I'm not submitting it to the offer. I said, I see your license agent. It's your job to submit the deal. She says, I don't care what kind you just, I'm not sitting here running around with this before reading. I'm not doing it. I said, okay. Why don't you just put down, give her 20 grand. Why don't you just say, Oh, give me 20 grand.
Because I didn't want to put up 20 grand. The reason I don't want to put up 20 grand was that if my deal fell apart and my idea didn't work out, I didn't want to lose the 20 grand. Oh, okay. I'm not sorry. I was assuming you had the money. No, I've got the money. I don't want to lose. No, no, no. I don't want to lose the money. No, no, no. You're not going to lose the money. This escrow with this dependent on on financing, right? But she's not going to let me do it. Well, they're not going to let you do that kind of deal. You put down, you put down. They want your money. Right, right. This is not at a whole nother level. They want to earn this money.
And their mindset is like yours. At that level, you should be able to lose it. But you got to remember, I'm got shit. I was sitting five years ago on Boulevard. This is no way, you know what I'm saying? I'm thinking 20 hours totally differently. So what I did was, what I did do was I went back, I left, I went back. I got my assistant, smart ass girl, brilliant lady named Teresa. She went, I said, yo,
the company through the tax records that actually did the development itself and who the owners were on that unit, which was a company. They were in Israel. They did these things all over the country, these concepts all over the country. She reached out to a guy named Uri, Uri if you're watching this, she reached out to a guy named Uri, reached out to Uri in Israel and they got them and left a message for Uri to call me. I called her, I said, Uri look,
Tomo, I was, I'm Darcy Richards. Look, I can close this deal in three weeks. How long have you had that property sitting there? He said we had it there for like nine months, some shit like that sitting there. I said, Uri, look, I can close it sitting there. It's not making you any money. I said, I'll give you the 800,000. I could close it in three weeks. I've got a program because I have a hundred percent stated program and it was a jumbo type of deal, but I had it, right? And I already knew it worked. So I said,
Let me just go ahead, get the financing, make her take the earnest money. So for the start, he says, he says, let me call you back. He calls me back. He says, listen, I'll do it the way you want to do with those terms. He said, but give me 825. I said, no problem. I'll give you the 825. He raised the price on me. I said, you do me a favor though. I said, why? I said, when you come to closing and we close two things, number one, I do not want that lady that was there under any circumstances to get a commission. And two, I do not want under any circumstances for her to be at the closing.
He said you closed in three weeks. I said closing quote went back. Got a friend of mine, Corrine, who I did business with. She was really successful, beautiful designer. Her and I were doing a bunch of deals together, told her, listen, I got a deal here. I need you to put the property in your name. I'll come back. I'll refinance gave her a few bucks. We went back there with
We went back, she went in, did the paperwork, did the tunnel three, did all the processing, gave all the products in. I already had the loan product. I knew what the product was. We sent it to my loan officer. He went and processed the deal. When he processed that deal, two and a half weeks,
We were sitting at a closing with Udi. I think I still walked away from the deal because the way it was praised, still pulled a little bit of cash out because it was 100% financing. Had maybe about another $25,000, like $25,000 to $40,000. I used that towards decorating. Went to that deal.
Close the deal in like two and a half weeks, two and a half weeks, three, two and a half weeks, give or take from there. I am walking through that lobby with my bags, me and Teresa walking through that lobby. And we are walking through the door, brother. The niggas are here. You know what I'm saying? Coming through the door, going through that lobby, going through that door.
Coming through as I, as I walked through the lobby, the sales office right here, bro. And she's sitting here. I said, God, how could you bless me like this? She's sitting there. I had the bags. I looked at her. Hi. I wait, you know, you know, you wave the bag. Hi, how you doing? Just want to say hello to everybody. I I'm the new owner of penthouse 30, penthouse old five or some shit like that.
And she just gave me the look of death. I went and I moved into that penthouse. And when I moved into that penthouse, that's when shit got crazy. That's when shit just went another level. Property levels dropped by 20%.
The parties were nuts we have my cousin could tell you we have oh my god They were showing up They would be in the parties. I was shocked that they would be in there. The office across the street from the penthouse, you know in another high rise across the street So
Yes, I hadn't moved yet. So wait, can I ask you a question? Who was that? You said me and Teresa. Who was Teresa? My assistant. Oh, okay. I thought it was the girlfriend from the old. No, no, because of the old apartment was gone. She was done. Oh, no, it was a whole new crowd again. I went to like several new. This thing just kept it. See any crazy thing was survived every purge. Is that correct? I'm way smaller.
It evolved and we were in that penthouse and this is when I went into the condo business. This is when I went into the condo business. So little did I know going into the penthouse going to the condo business. Within 36 months, I would be in prison. Within 36 months, I would be absolutely broke.
In prison, life gone up in flames. And I would find myself sitting across from you in the fucking child. Well, so this is but so you got to remember
The condo business, I was trying to make money money. I was making money like I was making well over a million dollars a year, but I wanted to get I was trying to get in right and I knew so I'm reading this. I read all the time, right?
So I read this book called great book, by the way, but I'm going to give the audience a book. Don't hurt yourself. Well, you got no to do with this book, but the book is called Barbarian. I read two books. One is called Barbarians at the Gate. I remember you talking about the book. You have to understand that this part of the story is we've I've heard several times in prison up to all this stuff.
I kind of, I didn't really, I've never really heard it. You know what's so insane is like, this is by far, it's extremely entertaining and you haven't even gotten to like, this isn't even a real fault. That's what I'm saying. Most of the times we have a business guy. If we have a business guy, it's bland. It's boring. Yeah. I mean, these are up to this point of all the business stories, but this is what just this alone would be a great podcast. Yeah. It's going good. I'm sitting here, I think the whole time I'm thinking, gee,
This is gonna be a good one
So yeah, so I move, we're moving in, and I'm really, really trying to get in. So you gotta remember, by this point, I'm hanging out with Kim Porter, I'm hanging out with, I've become friends with people like, and these are people you might have heard of, Kurt and Rashida, what's up? And you know, Kurt and Rashida, they, right now they have a, they have K-pop Atlanta, all these different, I'm meeting all these people across the board. I'm hanging out with, I'm with
Kenny Leon, I'm at the theater with Felicia Rashad, I remember from the Cosby show. So this is how my crowd has like really changed, right? So as we go through, as I'm there, I read a book called Barbarians at the Gate. So when I read the book Barbarians at the Gate, I read another book
I don't remember the name of it, but the book was about a guy named Sandy Wiles. Sandy Wiles, he started Citigroup. Let's just say Citigroup, but it was Citibank. He bought Prime America.
I think is it Shearson and Lehman? It was another brokerage house. It was a conglomerate of financial companies that did everything from insurance, hence Prime America, and brokerage houses, which was Shearson and Lehman. And the Citibank was obviously a bank. It's a big bank in the Northeastern United States. I don't know if you've heard of it. Citibank, yeah. Yeah, I owe some money.
The part that stood out to me in the book about him was he goes into when he bought Prime America. The owner of Prime America was like this gregarious, charismatic kind of leader, and he talked about the business of Prime America, how they sold financial insurance, how they sold the whole insurance concept.
The other book, uh, the other book I read is Barbarians at the Gate. Barbarians at the Gate is a story about Michael Milken when he left Drexel, Bram, and Lambert, and they focused on, uh, doing corporate, he focused on, uh, funding, uh, merge, uh, uh, focus on funding corporate raiders. And they're, in essence, what they were doing, buying companies, which again, were conglomerates, and they were selling them off by pieces. So here's a problem I had. I would, I would always have like a couple of,
a million or two liquid, but I just had trouble renovating houses all over the place. Especially back then, I was never particularly a great renovator. But the thing was, when you're buying all these houses, you got a house over here, you got a house over there, you got a house over there, and you're trying to run these projects to double, let's say, two million and take it to four, the renovations, you're a rehabber. Yeah.
You're creative, you're a creative person, and you're detailed like that. But for someone like me, I cannot manage those projects like that. I'm not detailed like this, especially when I was doing them at the time. And it just wasn't my thing. I was more of a of sales deal structure. So I could never turn by. So what I realized was, wait a minute, people are buying houses, I can still renovate.
But I need to renovate it with a simpler process that allows me to scale quicker and faster. You know, like an assembly line. Like an assembly line, assembly, blah, blah, blah. So what I realized was, as I was thinking this through, I read the book Barbarians at the Gateway, they were buying the companies, breaking them off. And then at Prime America, where they had the people doing the MLM for Prime America, which is a multi-level marketing where you bring someone in, they bring someone in, and they kind of run it out like that.
So what I realized was I looked at apartment complexes and I said, wait a minute.
These people are buying these condo conversions. I mean buying condos a little bit like people talking about condos, condos, condos, condos, condos. Yeah, so wait a minute. How much is the average condo? The average condo was let's just say 250 at the time. But you had these other buildings that people were buying where the average condo was like 150. Well, how much can I get the apartments for? $25,000 a unit. I'm like $25,000 a unit.
If I get $25,000 a unit, I can renovate back then for let's just say $50,000 a unit. I could turn around and sell you a soft course, you have closing course, you have holding course. But if I'm netting $40,000 off a deal, $30,000 off a deal, that could work.
So we started looking for deals. Well, we started looking for deals and I started working with other bird dogs and we're calling, we're putting together deals. I started seeing properties all over town back then where I was getting them for like 20,000 a unit, 25,000 a unit. I'm like, oh shit. How many units? Anywhere. My smallest one was 20. My biggest one was 144.
And then my, uh, then I was buying tracks of land. I was getting rezoned at the time where I was building, uh, 154 units. I got that rezoned. Uh, and, but I bought the landcast. I had money. I just had the money. So the money allowed me to get quick, fast access. So I would buy like a track for like 800,000 for more here. I would buy, uh, and then I started buying all the properties and bringing them together. So,
What I did was I did a deal. I did one condo deal. It was a 20-unit apartment building. So I bought the 20-unit apartment. I got the units for like 10,000 units. No, it was less than that. It was something crazy. I got the building for like 300 grand. I got the building for like 300 grand. It was 20 units. By the time I renovated, I sold each unit in there for like 130,000. I went, I did the deal, renovated the deal, got the property, sold the property to investors.
So what I did was I created like a multi-level marketing concept, like, say, when Prime America did, it was called Fire Your Boss. So you'd bring someone in, they'd bring someone in. And Prime America was giving these people like 40 bucks or like 150 bucks for the insurance process. I said, listen, you help me sell a condo, you'll get three grand.
You bring someone in and they sell a condo. They get three grand. You get 500 and then the third tier down was like, let's say 150 bucks, right? People loved it. It instantly took off. So it took off so fast. And when I did the 20 units after I pay, I renovated it. The place is in great shape. Cost me like 40,000 unit to renovate. So give or take 40, 50,000. I did the renovation. So I made like 1.3 million dollars in like 90 days profit. I was oh shit. This was like
This was just like, it was just unbelievable. I got the building, did the renovation, I had the hardwood floors, I just upgraded it, brought my appraisers in, you know, and then they just did the appraisal on it, turn around, the network marketing group started selling it. They made all that money from the sale, bringing their friends and groups that all we did was turn around and lease it out. It was like their little own investment property. And the funding was flowing, easy funding. Sometimes we were getting 100% financing. Now, I was assisting some of them with the down payment. It's gonna happen.
So nothing wrong with that. Everybody's doing it. Everybody's doing it. So I was the system with the down payment, but the deal went through great. I made well over a million dollars. The first deal the first building one thing. So when the first deal went through for only thing was going through my mind was how much of this can I do? That's the only thing I could think of like how much of this can I do? So let me back up a little bit relative to this story.
There was a guy named, there was a guy named Joe Haresh. There was a guy named Joe Haresh. Is this the hard money lender? This is the hard money lender. This is the hard money lender. I want to tell him. So
Right. So, right. There's a couple of things with Judge Rush. I didn't remember that part, but thank you for reminding me because I'm going to tell that part as well. Also, I'm going to tell you that Joe... So, hence, pause right where I'm at on that first part of the story. We're going to bring Joe to Rush so you can understand how he played a part in this. When I got into doing deals and I got into flipping contracts, flipping deals, one of my main customers was a guy named Joseph Rush. Joe was about a year older than me, Jewish guy, super smart.
Super, super smart. He just understood how to do deals. And he understood how to negotiate deals. And he had way more, he had a stronger knowledge base than I did of the deals. But I was selling the deals because he had the money. Joe had the dough.
So I would sell Joe deals. Listen, bro, I love Joe. Joe was my I mean, Joe was just somebody I just really liked. It was just something about his demeanor. He was he was real calm, real cool, had a great family. And we were hustling deals. You know, I was selling the deals. I'd find a guy do all the legwork. But again, I was making $12,000 on some deals. I was making $10,000. I mean, this was great cash coming in. So this is like me. I originally started flipping contracts coming through. Joe's my one of my best customers.
So the thing was, was that as I'm as I'm doing these deals, Joe, so I'm doing business, but as I'm expanding in my business, so was Joe. Joe ended up opening banks. Joe ended up creating these equity lines. Joe had a process where he had a group of bird dogs bringing deals in. He had a marketing team that he that was marketing to bring new investors in the bird. Those were the deals in the marketing group, the marketing, the marketing people.
I brought the buyers into seminars or something and he had the bank Loaning him money a low interest rate and he was turning around and by using credit lines to loan his buyers the money to buy his high interest rate to buy his deals So he's doing it twice. He was catching the money off the deal because he called himself now hard money lender He's catching the money that way and he was also selling the deal. So he's getting a spread and
On as well. Also, he just made sure they qualify to refi out the deal because he wanted them to be able to exit off of the deal. You follow me on that? So he wanted to be able to exit. So he did this. So you got to remember they have revolving credit lines of like 50 million. They just they just had the cash coming in. So again, his team, we advertised the deals through deals like 3% down because he was able to give him low down payments. He gave him a great deal. He had one group following the deal. It was a printing press for money when the market was good.
And when the financing was good, they brought the buyers in, the buyers would buy the deals. He had a team bringing the deals for the buyers. And guess what? I'll loan you the money. So he was able to pay himself his own spreads, able to give himself interest premiums because he also loaned them the money to buy his deal to spread the premium. And then they refinance into another deal. I mean refinance to another loan and then get his money back to start all over again. So Joe was making a fortune doing this process.
So as Joe was doing his processes, he was coming through during his process. Joe was making millions of millions of dollars through the years. So I kind of stopped finding Joe deals because my process had picked up as well also. So now hence going into these deals moving forward with Joe. Joe's a big lender in town. Joe's dealing with some of the major people like on the national bank. He's easily on that level. He's doing all these deals. His name is just ringing bells all across the city. Everyone knows who he is. So me.
At this point myself, I am now doing condos. So what I did was I did the deal I made. Again, I made a killing on that first deal that I did. I had my guys found me a bunch of deals. My guys found me a deal. I had 144 units from the guy named Moshe. Moshe had 144 units. I got the deal at $25,000 a unit.
I had another deal where I was going to do a hundred, where I bought the land. I was going to do 35 houses there. Again, I just want to move the units and get everything built because my goal was $35,000.
of everything, $35,000. Then I had the land that I bought that I rezoned for the 154 units. I was going to build the building from there. And listen, and the people who set me up to do this deal, they had just done a $50 million deal across the street. They had set me up and I was part of this big community. They had this big tax credit program that they did. But the point is I got the land great, I increased the value by getting it rezoned. I actually increased the density of properties. I created all of this equity in it, which made it much easier for me to get finance. I created the density in it through the rezoning.
Which was a big deal over there. So I got that deal. I had that deal. I was going to do I want the land. I just had to get it built. That was my few new builds and then I had the homes there and then I had the hundred and forty four unit there and then Now I need to get the deals finance. So at the time I probably had liquid at the time two and a half million bucks. So The profit from these deals that I had all together so all well
I'm looking for, I'll tell you that. I'm trying to get the rest of the financing to take down the 144 unit, the 154 unit, and the 35 unit. So I go back, so Moshe is trying to help me get financed because he has his big building in the world too. He gets a big payday,
If he can get me fine, he has a big name in town. He has this guy was like a builder, a Jewish guy who was a builder in Atlanta. He had properties up and down Piedmont. He in Midtown, he's going to kind of jumped off that Piedmont strip of building those mid rises. So that's what he did. He was a developer like that.
They spoke to me really fucked up in that meeting. You know, went to the meeting, they knew me, there was a guy there, I'll never forget, a guy named Avi. And, you know,
He took me there because he liked me. He had the big name, right? And he said, listen, I'm selling DJ to steal. So I was always in the hard money department. So now they brought me down to the commercial banking department. This is private banking. These are like hustlers who've got some serious fucking money. So they knew me from the hard money section. They did all of them, but they had a private banking section as well, too. So he takes me down. This is his area, the private banking sector. They do for developers and developments.
So he's introduced me to God in my heart. He says, yeah, this is going to do and the guy sitting here has this big picture of like, like, like fucking Al Pacino, like a painting of Al Pacino. And these motherfuckers look like gangsters. You know what I mean? Like they're bankers, but they look, they look and feel like gangsters. It's like, they're in a horizon. And I'm sitting here and I knew who Avi was. I'm seeing him passing by upstairs. So he's sitting here. He looks, he says, he starts speaking in Hebrew.
To Moshe. So as he's speaking to Moshe in Hebrew, Moshe is looking at him, and then Moshe looks at me, and then he's looking at him, and he's speaking, and I could tell by his body language, you know, the hubris, the arrogance. Yeah, it's rude. First of all, it's rude just to fucking have that conversation. And his body language really was like, oh, fuck this nigga, right? That's what I got from this shit, right? Just fuck this nigga.
But I'm sitting here and I'm with Moshe. I'm here with Moshe. Moshe is the man. You know what I'm saying? So I'm sitting here and Moshe, so I hear Moshe saying, so Moshe did, Moshe spoke a little bit of Hebrew. Then he came back and he said, nah, he could buy the deal. He's got some money. So I seem to calmly walk in the street. He's buying about a deal. He got some money. You know, he could do this. He could do that. So Avi says, nah, never looked at my, never. I mean, I had some plans. I never really looked at the plans.
Never really gave me a shake, just kind of super dismissive. But not only super dismissive, gave me the Kunta Kinte look. If you're black, you know the Kunta Kinte look, right? It's like, nigga, get the fuck out of here. You know what I mean? That sort of look, right? So I sat there with Moshe, and I said, Moshe said, listen, let me talk to the guy a little bit further, right? By this time, you got to remember, I wasn't Moshe, and I wasn't Avi.
But I was getting money like a motherfucker too. You know what I mean? So I was like, fuck him. I'm like, first of all, fuck him. I'm like, I'm not going to see it from this guy. I mean, I'm sure he's making money, but I'm like, fuck him. You know, so I went, I went to Moshe. I know somebody. I know somebody who's loaded. And he likes me a lot. You know what I'm saying? He's like, I was talking about Joseph. So I go back.
I called Joe. I said, Joe, look, I got these deals. I'm doing this. I'm doing that. I've got this going. I need this going. I got these deals. I need the financing due to construction. I need to finance to do this. I need the acquisition money. I need construction money. I had the deals, blah, blah, blah. So I'm telling Joe the whole deal. I showed him what I made off the other building. Show him my HUD statements. Show him my accounts. I went there. So he said, so he's there with his partners.
At their meeting, so this would be just kind of running through them. So as far as they're looking because the money sounds crazy. I know that they're like, is this guy real? Is this true? So Joe sits in Joe says, nah, this is this is this is my God. He says, now this is this is my God. He says, I know this guy. He said, this guy's telling you the truth. He said, first of all, I'm looking at stuff. I already know what he does. He says, nah, he's really getting like this. So. He says. They go back, they talk, he calls me, calls back from another me. He says, listen, tell you what?
I'll fund your deal, but this is what you have to do. The process that you have. I love it. I've got an apartment building. I need to get rid of run my apartment building through your system as well. Also. So I said, all right. So he says, here's how much I want to give. He's a much a month for it. Bop, bop, bop, bop, boom.
I said, I said, all right, so I looked at the deal. I'm like, well, I'm gonna need like 8.5. We did numbers like drama, like 8.5 million to do all this stuff, right? To get it going to get it moving to get moving across the board. The money was recycling. So we kind of worked is
The money kind of came for some of the acquisitions because the 154 million is like four and a half million itself, but then they get the project renovated and they get the project done. So it was the point of it getting renovated to a point where the sales start feeding the deal itself, but it had to get the momentum and get it up to that point. So it was about 8.5 million, 8.5 million give or take to get it to that point. So you had the acquisitions and you got a certain amount of development that had to get done. So we can start cash flowing off the units. So I said, all right, cool.
So I went and I brought Moshe. I said, Moshe, I'm going to bring you back to Joe. We're going to put this whole deal together. I said, Joe's my guy. So we go in the room. We sit in there and it's me, Joe, Moshe. We start talking about the deal. This time that I'm in the room, I'm in control of the conversation because Joe's my guy.
And we're going back and forth. We took about the deal. I'm explaining the deal. Joe's explaining the deal. We're explaining back and forth. Joe's explaining the deal. So Joe starts going in detail about the deal. So remember, I'm hustling. I'm getting money. I'm making this whole, all these deals work. But Moshe and Joe had a more in-depth understanding about real estate finance, about real estate sales.
and on the financing side in terms of how what the impact of interest rates relative to a loan relative to because it was accruing because I didn't have to pay out at first. It actually would be sales coming in the cells coming through but there would be an accrual but they had that accrual compounding
You see what I'm saying? So it becomes a very difficult nut to crack because it's kind of compounding on itself. So they are just so they just really, Moshe really understood the impact on it, but I was hungry to do the deal. I said, fuck it, I can outsell and outpace it. You know what I'm saying? So when we left that deal, myself and Moshe, and we left that deal, Moshe looked at me. Moshe said, yo, man, listen, you know, I really like you. He says, I want to sell you this deal.
He said, but I don't like that guy, man. He said, I think that guy's gonna screw you. I said, Joe? Are you kidding me? Joe, screw me? I'm like, nah, why would he screw me? Joe Harash? Joe's like a year older than me. And we're all about the same age. I said, I've worked with Joe through the years. I get the whole strength of it. He says, yeah. He says, but
I don't like that deal he gave you. I just wonder why would somebody give you that deal the way it was. But I've seen those rough deals before. So I said, I can get through it. He said, all right, cool. We put together a deal. We do the offer a lot of intent. We do the whole deal. So now the deal is cross collateralizing all my other assets. Remember, I have free and clear assets in that deal as well also. So it's 8.5 million. But remember, I bought that property.
Where the warehouse was building the 154 units. I got that property below market value. I created equity. I probably worth like 1.8 million at the time. So I put that property up. I put the I had the land deal up and I think he had me put like another million dollars. So I was getting like 8.5 million, but I was still into it for like 3 million myself, right? Then let's just put that that. But that puts you in a bad position if you're in a position where you need to tap the equity
If anything goes wrong, how do you tap the equity of the if all these other parcels are are encumbered by the deal? You're saying like if you got an asset here, like at least if I get into a crunch where I need money, I can go to that asset. I can go to this that he's tied up all your assets. What if something goes wrong? Something did go wrong, right? Right. You also have to you also said you had a couple million and you were in liquid.
Right, but remember, is he lending you the money for the renovations or are you using your money or are you using your money to do all your other deals?
So remember, I started to run the company. I still put up like another million give or take in it. I still use my other assets up in there. So remember, he loaned me a 8.5 million. I really went out with my cash on this damn deal. I had a few bucks left, but I really didn't deal between my team, my staff, getting the deal together, going through zoning, getting literally just sucked up my cash construction. Well, we didn't get to the construction part yet. So I was in this deal.
All the way in, but Joe's my guy. And Joe did the loan and I looked at my numbers on the deal. I was making profit on the deal profit. I was making somewhere between somewhere around seven million dollars off the deal of all those properties together. I was walking away with like seven million bucks. A lot's got to go right. A lot's got to go right. And but I knew the pace. I could sell it. I said I could outsell this motherfucker. Let's just get this shit going. Go in. What year is this?
Right now. I am in 2004. We put the deal together as we put the deal together across the board. I started getting going to go after the first project, which was the
154 unit. Yeah, that's right. Blue sky, right? What after that one for blue sky went up there first. So we go in my cousins did running the projects down there got another developer nothing. We're all down and we go when we start renovating summer. So we start renovating summer. Do you remember this is an apartment building? So we're these have like a this is a massive apartment on four acres. So we're taking so these each of each building has maybe like 10 apartments 15 apartments something like that eight apartments at 12 12 apartments for good, but we're taking a course. We're doing full gut renovations the whole thing across the board.
So I'm having trouble getting my so I go out put in for the drawer. I can't get a draw from Joe slow. No, let me back up. No, we did Bradley. We did Bradley first. We did Bradley first. We did Joseph. Joe said do my building first, right? So Joe says do my building. So his building was in prime location. I own the building now.
But his money's in the building. They already started doing the granite countertops, the base of this to that, all this shit across all the floors. The whole thing looks great. We didn't get to the other ones yet. So we're trying to get to the other. We're trying to get through the renovations, trying to get through the right says we came to the renovation. We're trying to get through the renovations.
We're renovating it. They start selling. So we started to sell here. We started to sell there. It starts picking up. The MLM team is coming through, coming through. So as they're coming through, we start trying to get the money for the drawers. This guy won't get the money for the drawers. He's moving slow on each drawer. I'm like, Joe, we have the momentum going. I don't understand.
You know, Joe and Joe's doing all these other deals. So we go, we're renovating, renovating. Again, Joe won't do it again. So finally, I'm like, yo, Joe, what the fuck is going on? You've got me in this thing for millions of fucking dollars. I need the drawers to finish the construction. The building looks great. People want the building. They're buying the building. He's getting the payoff because he funded it. So he's getting the payoff money. I'm like, where the fuck is the fucking, where's the drawer for us to finish the renovation?
Yeah, we call him down. It's once. Oh, I couldn't reach you on busy, you know the spin. Oh, I couldn't do I could so now it's killing me because you know, I can be an aggressive person. So it's killing me. I'm like, oh my god, Joe don't do I just thought of my relationship going there with him is just is just and I realized something.
Joe and his attorney had attorney named John, they took they wouldn't give me the money. They were running me to fuck around. I'm calling like, Oh, listen, I've got $50,000 on contracting bills. What the fuck? So but again, he had a lot of units already done beautiful grand count. These buildings were selling for 265. They were done. They were nice people wanted them. We just have to finish. Finally, this motherfucker I realized I said, Oh, this motherfucker's not paying me.
This motherfucker really is just not fucking paying me. So I said, let me teach you a lesson. So we called Joe down in one day, we said, Joe, listen, we want you to come through, fucking come take a look at the property, see the progress. He said, sure, no problem. He comes down there. When he comes down there, he comes down, he walks into the walks on the property. I said, Oh, yeah, Joe, let me show you the unit that I'm sitting in. He says, All right, cool.
We get up. I said, it's right in here. I said, look at the progress we have. We open the door. When we open the door up, fuck it. As we open the door, Joe steps in. Suzy stepped in. Somebody was right behind him, locked the door. Cut off the lights. Three masked guys come out with fucking sledgehammers. Boom, boom, boom, boom. Destroy a $265,000 unit. Boom, boom, boom, boom. They yell, next time it's going to be ahead, motherfucker.
Give us our fucking money, right? So he destroyed the units, destroyed, boom, boom, boom, boom. Give us our fucking money. And he's standing there like literally pissing on himself, right? Don't fuck around. And I'm standing right there next to him. I'm like, Joe, stop trying to rip me off. You're going to end up, you're not going to end up on the wrong note, right? He leaves. He leaves. We go back. He calls me to his office that Monday. He says, all right, I'm going to play nice on a play fair.
Says I'm going to start paying you your money. I said, okay. One or two deals. We keep these deals going. We keep these deals going. He starts pulling the money out again. Besides, he won't pay. He won't pay the construction. Now mind you, I've got, I'm going to, I've, I've collateralized all this stuff. Then it dawns on me. Joe can foreclose on me if I don't meet my deadlines for these deals.
And then I'm kind of thinking, I'm kind of looking at it again. I put up all of these properties, the land for the 35 homes, the rezoning I did for the 154 unit, the cash is cross collateralized. And Joe is giving me like 30,000 here, 20,000 there. I'm like, I'm like, what the fuck have I got myself into? I mean, this guy's gonna just wipe me out.
You know, and I've appealed to him every which way possible. I just felt I'm like, I can't get this shit done. This is I'm like, he's going to fork. I already know this is is is ominous. His intentions are shit. You know what I'm saying? I mean, this motherfucker is just I then went back to Moshe Moshe said this guy is I remember thinking back in my head. Well, she said this guy was going to fucking screw me. So I came up with an idea. I never forget I was standing on my terrace in my penthouse and it just dawned on me. Listen,
Bring your guys back in. What we're going to do is we're just going to run cash outs on the whole property and come back and fix the units. We'll circumvent Joe. I already knew my attorneys. My attorneys were crooked as the day was long, right? And then I had the appraisers, which would mark up anything under the sun.
And so we did was I got the MLM team pumped all the way up. We started doing the means. Hey, come on down by condos. What we're going to do is we'll sell you the condo. Once we get the cash off the condo, we'll go back and we'll fix the condo. And then once we fix the condo.
We'll take off that way, right? And you've already got several of them rented so you can show them. Yeah, sure. We have a model model. We had a model units all we had model units on each property. We had the model units from there. If we weren't partying the model units, if you know what I mean, right? We had the model units there. We had the homes. They had to mount the whole thing from there. So what we started doing was selling the people with some people in Florida.
With the MLM, we're selling people up and down Cali. We're there partying our ass off from San Francisco, fucking signing condo docks up and down. I was a Highway 1 in Cali, whatever that desert is, something off in all these correction offices. They were buying the condos left and right. So we're selling condos up and down California, some in New York, and they're buying them. So what happens at the turkeys like, look,
I'm getting a few extra dollars and what they're doing is they're not even letting Joe know they sold because Joe has a note on them. They're just giving me the money to go back and fix it. So now by this case, we're so we're selling three condos a week. We're picking up like 300 grand a week to come to come back and fix to come back and fix to come back and fix to come back and fix. So we're going back and we're fixing them now. Are they always getting fixed quick enough on time?
It's just when you've got the cash coming out, you've got to get through the construction. I bid off.
Way more knocker true because of how to deal with structure. I didn't have the space I didn't have the time and now I'm doing these damn cash outs We're getting them fixing people in but we just are not moving quick enough So these properties that are going in they're getting appraised but they're not done and they're not moving quick enough to get them done across the board It's just a slow machine and I've got issues with the contractor because these are my first projects of that size, right? So you gotta remember these are
Big apartment complexes. We're trying to blow right through them. So but again, I'm making you know in the process, of course, I'm seeing a shitload of cash like literally from just gross cash. I was literally like 300,000 a week. It just gets crazy. Literally. We're going to the bank picking up the money. They didn't even unpack the money. They used to take the money money and banks come in big plastic bags.
So you have the smaller bags, which are maybe like $40,000 $30 and they are back and they come in a big bag.
And they put them in a big bag, and that's when you get to 250. That's what it was. I remember he used to go pick them up. 250. They would just weigh the bag. They didn't even count at that point. They just weighed. So they'd be coming there, and they would just drop our weight on our back. Boom. We'd snatch a bag of money. It'd be like $250 million. So that's how this shit was rolling, right? That shit was coming in at that point, flowing through. So we're rolling. And then, of course, you know,
I was buying Ferraris and normal trappings and shit like that. But we were going through the project across the board and failing quickly. So as we're getting the projects done, we're getting them done, we're moving them through, we're trying to bring the other projects online, we're getting these other deals done, we're bringing them on, trying to get this stuff going. Joe has no fucking clue. He thinks every now and then we tell him, oh, Joe, we closed one.
He's like, oh great. This is really moving slow. Yeah, he's thinking this guy's going to go under. You think this guy's going to go under? He doesn't know I close 30. I already got three million, three million off this shit already. I'm trying to play it back in, but at least I got three million out. You see what I'm saying? You know, my mentality back then, I didn't give a fuck about anybody but save my own neck, right? So I'm thinking we go through, we're moving through, moving through. So he doesn't realize, he doesn't realize. So as he's going through,
We're pulling the cash out. We're pulling the cash out. But I still have the momentum of the banks because we're closing really fast. We're closing really quick. So I'm still getting there, but I'm not as quick as I should be. But they're getting it, man. They're slowly moving down, trying to refine.
We had a team in the back, processing everything through the contractors, bookkeepers, and so on.
And we're going through this process, closing, closing, closing. And we're getting to, I'm like, yo, we could win this thing, we could bring this thing off, and the money's coming in. Because at the end of the day, there's millions of dollars to be had if we could just get there. And we're really moving through what we're trying to get through. And as we're going through the process, we're like two years into this now, two years into this process, but it's moving, we're starting to get a little bit better. We had like seven or eight loan offices closing.
The loan started getting a little delayed. So we process process, yo, how come this fucking deal isn't closed? We're down here trying to close. Well, the lender, H.J. Wilson mortgages, they went out of business. What? They went out of business. What the fuck are you talking about? And what year is this? We're now up to 2006. Right.
We're doing the loans, doing the loans. We have like 20 lenders. We're doing the loans, doing another loans come through. Again, this thing is like, how come this deal hasn't closed here? We've done 30 deals with these guys. They just went out of business. What? The lender?
Another one. They just went out of business. They just went out of business. And I remember sitting here looking at a board with 25 30 deals on the board or call you to about millions literally in closings. Every motherfucking lender was closed. The only one that was hanging in there. They slowed up significantly.
I knew you were going to say Countrywide, too. Countrywide was the only one barely hanging in there. And I remember sitting there looking, they were like, it was a fucking IV drip. Countrywide was like the IV drip slowly keeping us alive. Clothes here, clothes there. So I'm looking at this. Now, remember, you're talking about every lender in the secondary market fucking gone. And I'm thinking to myself,
How come this isn't on the news? I'm like, the whole secondary market just closed. How come this isn't on the news? So we're still trying to hang on with the deals. By this time, I say to Joseph, I'm like, I need to move this property to sell because the banks are gone. We need to sell this property. Joe says, all right, well, let's get the property going. He says, I said, well, look,
I need to get this deal sold off. And he says, all right, he says, well, you got all these deals left. I said, well, Joe, those deals really aren't there. He says, what do you mean they're not there? He says, well, they're not there. No, I said, I need to pay you off to get you out this deal. So we went through the deal, went through how many was really there, how much was really there across the board. He found out that everybody was undercutting them because I had to tell them because I had to pay them out. I said, if I could just get them free and clear, I could kind of move it through. So
We make a deal where for the building that was, he would release my other properties and the building that was left there for me, I had to give him like, because of the interest accrued and he was killing me and I just wanted to get him out the way and I didn't know what the repercussions were for what I was doing.
We go to Linda and at the lender, we close it and we get Joe out of the way. Well,
While we're doing this and getting you out of the way, I said, all right, not gonna sell these deals over. I call this guy, Ronnie, I said, listen, I need an assistant. I need an assistant. I'm fucking get my ass kicked here. I gotta get these units sold off. I'm trying to get I've got these units left. I said, now it's on the news.
Lenders are banks are closed all over that the market is crashed on the bank finance now It's all over the firestorm if banks are closing. This is this is like the Great Depression a year later it hit the news when they announced that the marks of the market close this really happened a year prior, right? Yeah, they waited a year and then they announced it it really happened the year before so
As they're saying all this, I asked him, I said, I need some help. I need some help. What's going on? He says, I'm losing these properties. The market is in the toilet. All the values are shot down. All the banks are closed. I gave Joe all my money. You know what I thought the bottom was? I wasn't remotely close. The bottom was, at this point, what felt like infinite. Everything lost its value.
I couldn't sell shit. Yeah, well, nobody wants to lend. Nobody's lending. Nobody's lending and nobody wanted shit. The value, the value when suddenly our condos were 250 is now worth 10,000 bucks. Literally 20,000. That's what they were doing in the hood. That's what was going on. So
I was wiped out. This lady, we're trying to do, we're getting our cash out done here. He sent me over this, this new lady that came through, that's really doing well. She's helped me out. She's really supportive in the process. And she's moving money back and forth with me. You know what I'm saying? She's helping put money in my mother's, sending money to, I sent my mother some money to help her out, some money to family members to help them out. Maybe we have money coming through, you know, just to make sure shit is going through. And
As we're doing this, but I'm broke. And suddenly I can't pay my mortgage. My mortgage was $7,000 a month. I paid my mortgage fine for years. Suddenly I couldn't even pay my mortgage. I mean, this is fucking crazy.
And I'm sitting here, I had to go live with my girlfriend at a house that she had owned on Moreland Avenue. I'm sitting in the house. I'm like, what the fuck is going on? The whole shit is falling apart. It's like 10 o'clock at night. My whole world is fucking falling apart. And as I'm sitting here thinking, I can't get out of this shit. And I've got a bunch of cash outs that are un-renovated. Now I'm thinking, if the feds ever see this shit, I am done. I'm going to fucking prison. I'm like, if they see some shit like this. As I'm doing that,
The phone rings. 10 o'clock at night. I look over. It's Joseph's lawyer calling me. I'm like, this could not be good. That's all went through my mind. This could not be good. I answered the phone. Hello. Hey DJ, this is John. I think myself you fucking pieces of shit where I'm from. Hey, John, what's going on? Hey, just want to inform you. Joseph just blew his
Joseph just 45 minutes ago sitting at his desk pulled out a nine millimeter of his drawer and blew his brains out. Why Joe?
I'm the only one that performed everybody else failed failed. Okay. I wouldn't even thinking that he paid him back. No, he lost like he lost like $50 million in that whole fucking shit. I'm the only one that fucking paid him back. So he loses like $50 million that he killed. Not only did he off himself,
The only thing that was going through my mind at the time was this is not going to work out well for you. This, whatever is going on here, it was in the air. It was the energy, my nerves. I mean, every instinct I had said, this is not going to work out. So we're still
We're still doing, doing the deals and I'm working with the chick. She's trying to really push for me, help me assist it. And she says, you know, I'm trying to show her the business. I'm trying to show her how to do the cash out so she could do something on her own. She said, listen, just explain it to me. Show me up. I said, let me show you. She says, just show me the basics. I can really help you. So I'm teaching her how to do the cash out. We're going through the whole process and it's just her and I fighting through. She's like, listen, I got you. We're gonna make this whole thing work. I said, listen, let's just keep pushing this thing through. We're trying to get down. We closed like one, but we're still fighting and fighting and fighting. And
One night, we're just going through all this shit. It's like, uh, two months after Joe off himself, I'm laying on my girlfriend's couch as I'm laying on the couch. There's a window right here with a curtain.
If you sleep hot at night, you know how disruptive that can be. Whether you're having trouble falling asleep, you're waking up sweating in the middle of the night, or all of the above, that's where GhostBed can help. As the makers of the cool
Ghost Bed is your go-to for cooling mattresses, cooling pillows, and cooling bedding. From their signature Ghost Ice fabric to patented technology that adjusts to your body's temperature, every Ghost Bed mattress is designed with cooling in mind. So whether you want a plush mattress that cushions your shoulders and hips, or a firm option with exceptional support, your Ghost Bed will keep you cool and comfortable all night long. When you purchase a Ghost Bed mattress, your comfort is guaranteed.
You can try out your mattress for 101 nights risk-free to make sure it's the right fit for you. Plus, they offer free shipping and most items are shipped within 24 hours. If you're not sure which GhostBed is right for you, check out their mattress quiz. You'll answer a few questions and get a personalized recommendation. Even better, our listeners can get 50% off site-wide for a limited time. Just visit ghostbed.com
Cox and use the code cox at checkout again. That's ghostbed.com Slash cox with the code cox at the checkout to save a whopping 50% off sitewide I go to sleep and something is you know, you kind of that red room between interim sleep between your awake and you're sleeping as I'm laying there I hear
5 o'clock in the morning, I'm thinking I need to get up and take my son to school because my kids, me and the girlfriend broke up. I had a son that I would take to school. I'm just kind of thinking to myself, you need to get up and take your students. I'm saying that here. As I heard that, I had this vision. A vision came to me. In this vision, I saw
men in green flap jackets all across the lawn with M16s that said FBI. That's what I saw in that moment, in that vision. And I woke up, moved the curtain back, and I knew when I moved that curtain back,
Whatever I see is going to absolutely change my fucking life. It will never be the same. I pulled that fucking curtain back. It was the fucking vision, person for person, crossed the line. What I saw in my head was right there. They were right there. FBI, open up.
Open up. I jumped up, grabbed my shit, ran to the fucking back of the house to go out the back door. I fucking opened the back door. Motherfucker was standing there just like this. I said, oh shit.
The fucking FBI, they come in there, I open the door, they fucking came through the door, grabbed me by my shirt. He looked at me, grabbed me, he grabbed me. He said, listen, I know you're in shock. I didn't even check what's going on. This is what I need you to do for me. You have seconds to fucking do this. White guy, holding glasses, look like a fucking doctor. He fucking told me, he says, listen,
Where you're going is going to be extremely cold. I need you to get some pants on right now. Get your shoes on right now. Put a sweater on right now. You've got seconds to do this. Where's your clothes at? I'll sit right over in the back. He rushed me to the back. He said, put them on. I'll put them on. He's standing with an M16. This motherfucker's
Backed up. They're like this. No, they're looking on the hallway. They got Kansas and a sister pushing back. They're like, all right, they put my shit on. I put my shirt on. They said, come on, come on, come on, come on. We get to the face. I put your cuffs on. He says, come on. He said, I'm gonna cuff you in the front. He said, you good? I said, I'm good. He put the cuff in front. Boom, sat me in the car. They put the
There was not one cop car there. They were just all unmarked cars. We jumped them up. We take off. We take off. We go down to the Russell building. We go to that motherfucker. We go upstairs. It was freezing. We go. It was freezing. He was not lying. We go in that building. We go through the chains. We go downstairs. We go upstairs. We go through the door. We go in this. We sit down. And as we sit down, as I get there, I see my whole team. The lawyer. The lawyer. The appraiser.
I see a couple of people that did docs, could be their paperwork. I think everyone's there. Everyone's right there. And I sit there and they give you a kind of, they give you, it's not the indictment, it's the complaint. And in the complaint, there's quotes in the complaint. So they're sitting there with the complaint, I'm sitting there with the complaint. I'm like, who the fuck did this? How the fuck did this happen?
I'm like, what the fuck is going on? So one of the mortgage brokers who work with me, smart, polished dude, real sophisticated, polished dude, loves to marry women from Brazil. Who the fuck does that? He loves to do that. Can I say that? That's the story, right?
He says, dear, we're there. We're all shackled at the knees. We're all there. You know, we're dressed and we're all sitting there like, all right, what the fuck? Pretend we don't know what the fuck is going on. Like, what's going on? They're like, you know, he goes through the shit. He reads it. He's reading a complaint. He's reading a quote in the statement. We're like, who the fuck is that? He looks at me. He says, I know who did this. I said, who? Who the fuck did this? He said, Kim. I said, Kim, my assistant. He says, yes, your assistant.
And then it just went right back through my head. Like just teach me the system. Just show me how to do it. Just move it with the paperwork. Just Kim was wearing a wire to work every day. Kim because I didn't understand how the feds work. I was completely ignorant to it. Kim had an open case.
Kim's open case, which I didn't even know what that meant. She actually told me she had a case with defense. I didn't understand it. I didn't understand how it worked. Kim had to open case with Kim's open case. Kim
What kind of deal with the FBI? They were actually paying her literally to come work for me. So I'm paying this motherfucker. The FBI is paying this motherfucker. She's wearing a wire to work every day. And she is slowly entrapped me, entrapped me, entrapped me, and trapped me in the process. And sure enough, like she was just documenting your fraud, but
Go ahead. Actually, I didn't mean to trap me. I meant documenting. She was documenting. That's what I meant. Documenting. I actually didn't mean to trap me. I really meant documenting. So you're right. She is documenting my fraud. So as she documents my fraud, literally,
She flipped out her case for me and flipped me out for that case. They let her off completely? I think she did. She did three months. Oh, three months. Okay. But no, she had a big case herself. Oh, yeah. She had another case. But she also just knocked off. The whole thing. The whole cruise. Oh, I was a big... You probably, you know what? If Joe, if without her, they're probably, their fear is you could have blamed Joe. I did try to blame Joe. And listen,
I tell you a funny story. When I went in to debrief with the US attorney, I'm sitting at the conference table, shackled down. This is like after she comes in.
We walk in and I got this whole plan in my head. She walks through the door. She comes through and says, hey, everybody. How's everybody doing? She looks at me and says, Darcy, how are you? I'm like, I'm fine. She goes, good. She says, good. We're about to get started. First, I want to just make a few things clear. We're not blaming this on the dead guy. Oh, shit. I plan to blame the whole thing on Joe. She's off the rip. We're not blaming this on the dead guy. Is this Gale McKenzie?
No, this is Barbara Neeland. Oh, okay. Did you ever hear of a Barbara Neeland? No, I know Gail Mackenzie was come on. What's his name? Kelsey.
Oh, Kelsey's Kelsey's. Yeah, Kelsey's. That was Kelsey. It was somebody else's too. What I you had Kelsey had somebody else. What's his name? Troy had Troy had Troy had Troy had Troy used to say that she loved him. How did you do his imitation? What? Let me get. How does he sound now? Troy?
That was how I got busted.
And that was, I thought I would, they told me I was charged with two condos. I looked at my lawyer when he came to see me. I said, uh, can you get this worked out? He said, yeah, I'm going to get this worked out for you. He says, uh, they charge you with two illegal condo cells. I said, all right. He says, yeah, you probably do a little bit of time for that. I said, okay. I said, I said, I said how much he said you might do two years. I said two years.
I said, how the fuck am I going to do two years? Are you fucking kidding me? He says, yeah, two years. Like as he's telling me this in the court for the arraignment, he says, uh, he says, excuse me, could you to my work? He says, hold on. Let me see. I could work. I took him. And the lawyer is looking at me like this. Now while she's talking, he's looking at me. He's going like this, looking at her, looking at me.
I'm like, you know, it's like what he's like looking at looking at me. He's like, and she's in his area. He walks back over like deflated and shit. He's just looking at me like I'm dead man walking. And he says, okay, it's two condos. What you have was called a superseding indictment. I say, what the fuck is that? He says, apparently you've owned a lot of property.
And apparently you've sold a lot of condos. They've got your money count right now at 30 million. And I'm sitting here like, okay, what does this mean? You could get like 20 years. I'm like, what? 20 years? What the fuck are you talking about? He says 20 years. He says, yeah. He says, you can get like 20. He says, I said, well, how much are you really going to give me?
When you're in a situation,
That's the thing about crime, especially when you're committing crimes and you know, some of us we're in denial about like you just said when I said entrapment, which is not right without the term I meant to use. But the point is, is that you really don't realize a you're a fucking criminal number one and be the consequences are brutal. The consequences are unspeakable. And you keep thinking, you know, so the moment you get away with it,
I think that one's done got away with it. No, no, no, you didn't get away with it for now. And you forget about it. And then when they come to you and they catch you for this one that you know, they have you for and then they stack everything else up. You're like, oh, forgot about that. Oh, forgot about that. Oh, forgot. Next thing, you know, you start to realize like, oh, no, this is getting bad. I thought I got away with those. That was over a year ago. That was two years ago.
Right. And next thing you know, it's overwhelming and your lawyers trying to convince you how much trouble you're in. You're thinking, I just filled out some paperwork. I say that all the time. Colby hears me say that like, how can I get 26 years? I just filled out some paperwork. It seems innocent. It does. I didn't hurt anybody. I didn't kill anybody. I didn't do it, you know, but you know, it's, it's, it's, you know, I love it when people white collar criminals don't get any don't get any time.
No, they get a ton of time. They typically cooperate. They get decent lawyers. They try and talk it down. They try and whittle it down. If you're lucky, you can cooperate against a bunch of people. You can get your 20 years whittled down to four years or something if you're lucky. But if you're not lucky, then they'll crush you and they make you sound like a monster. You're a monster. But the truth is if you sit there and lay down exactly what you did to the average person, they're like,
That's why we're here. Listen, not only that, let me tell you to the degree that everybody was doing this and I'm saying that as a cliche. I just want to tell you this quick thing. I told this story at seminars. I'm in jail waiting to get sentenced, right?
I'm going back and forth to court, right? Why would I be going back and forth to court in the feds, but I'm going back and forth to court with jail, right? It's hard to explain to the drug dealers and everybody in the US. My lawyer again. So I'm going back and forth to court. I'm all over the fucking news. I'm going to jail.
I'm going to prison. Like these motherfuckers have me as a pariah. You know what I mean? I'm going to jail. I gotta go to court. I'm sitting there like, God, I'm hoping now reality is set in. I'm hoping and praying for 10 years. This is where we're at. The motherfuckers around me in the jail. I was in there getting 30, 40, 45. I'm like, oh,
And you're thinking to yourself, what have I done to myself? So they come, Richard, you got to go to court. I'm like, all right, I'll start walking out. Do it. I hear the girls in front. Fuck you going, Richard. You know, I'm going to court, right? I'm going to court. So they take me downstairs. They take me downstairs as I'm coming downstairs to go to court. You have to walk through the tunnel at Lovejoy. I could come through. There's a van that pulls up when the van
pulls up, two marshals come out, vest, tie, what is a woman, maybe about five foot, two? Another guy comes through, comes out as well too, you know, with a blue jackets, the blazers, as she comes through, she says, face the wall. I'm like, all right, I've turned around the wall, chain goes around your waist, chain goes around your ankles, chain goes around your hand, they put me in the van, they're riding, as they're riding, they're driving, I'm sitting in, shackled, on my way to court, the marshal
She looks at me from the back, turns around and looks at me once, thinking nothing of it. We're still driving the car. She looks at me again and makes eye contact again and then turns around real quick again. So I'm thinking nothing of it. We go in, we go into the building, go through downstairs where the courts are, take me upstairs to the jail, take me upstairs, walk down to my home, open up the big steel door, put me in there, open the cage, put me in there, I'm shackled, take the cuffs off, I'm shackled by the legs, die and I'm waiting to go to court.
I said, I'm waiting to go to court. They have their own marshals in the prison that actually take you up to court. These are the transport marshals. So I'm sitting here waiting to go to court, but I'm behind the gate, behind the steel door in the jail. So it's a cage within a cell and another cage in it. But you can't see on the other side. I hear somebody say, but you can hear, hey, where's Richards? I'm looking for Richards. They want him upstairs in court. I said, okay. I hear, I hear someone say, a woman's voice says,
She says, I'll take him. I'll take him. Where's he at? Okay, I hit a pause. He's right over here. So door opens up. The Marshall comes out. The Marshall comes in the same woman again. She looks at me. She goes, Richard,
Come on, you got to go to court. Get up shackles on. She has me face to come out, come out the cage. The other marches standing by the door. She puts again, chain around thing, put the handcuffs on. She starts walking me out. She says, as we walking out walking down the hallway, this white star hallway, there's an elevator at the end, which takes you upstairs to the court. As she takes two steps, she looks at the other marches. I got him. I'll take him from here. He says, all right.
So now it's her and I walking down the white hallway. We're walking down the hall, walking down the hall. We get to the hallway. She opened up the door. I've been here so many times. I already know walking the elevator face the wall. Don't turn around as we go in her and I go into the elevator. Now something's rubbing me as weird about this whole thing. Just why am I seeing the transport Marshall again?
Why am I in this hall by myself? I step on it and the elevator comes. The elevator opens up. She says, step in. I step in. Boom, I'm facing the wall. I'm looking at the wall. She's standing by me. She hits the button. As we're going, as we're going up towards her, as we're going, as we're going, she hits another button. The elevator stops. I'm like, what the fuck? She says, Richards, turn around.
I turn around, I'm looking at, now I'm looking at her. It's the same bitch from the fucking, she says, Richard, turn around, turn around. She looks at me, she says, Richard, listen, really quick. I don't have much time. I have two deals at my attorney's office about to close. We're having, we have equity on the table. I need you to show me how do you get the cash out of the equity? How do you actually extrapolate the cash off the deal? What type of paperwork do you file?
I think I said this is got to be a fucking setup, right? This is gotta be a I'm like, I'm like, what the fuck is going on? So I'm sitting here. I'm playing the cool. I'm looking at I'm like, is this real? She looks at me. I look at how I said, I'd love to help you. I really would. I just can't. She said riches. I'm not setting you up. I know that's the fuck you're thinking. I just got a deal. I need to get this $40,000 off the deal. I can't do it.
There's no problem, Richard. Turn around and face the wall. Turn around. And we start walking off to the court. This is to the degree of how this everybody, everybody, everybody, everybody,
I have done fraudulent loans for lawyers, for police officers, for doctors, for like everybody out there that you could think I did that you would think
Cops not going to do a dirty deal the fuck they won't not only he doing a deal. He's getting his wife to do the deal. You know, we're doing multiple types of deal a lawyer is not going to do I had a lawyer we pulled out like 60 or 80 grand out of the deal. So he's bringing money. We close we pull out a hundred so he can get his down payment back and we give him like 60,000 dollars. I mean completely fraudulent you same thing doctor exact same type of situation like I've done so many corrupt deals.
It for people that you'd be like that a lawyer wouldn't do that. Yeah, they would say what I was in in prison with with guys in prison and explaining what are you talking about? Everybody was doing this and they're like and I like it didn't want for a lawyer one time and the guy was like a lawyer wouldn't do this like you're talking you were in prison right now. You just got done telling me how your lawyer fucked you.
Yeah, it was everybody. Everybody across the board was doing it. Everybody. Well, you know, I mean, whatever. No, no, no, but literally, no, no. In this particular case, in the real estate business, it really, it really was everybody like the opportunity. Well, I think there was just so much money involved.
There was just imagine at that time to the whole economy is collapsing. So she's desperate. She had to be desperate to stop in the elevator and have that come or stop in the other. I just knew and the truth is I really wanted to help her out. Yeah, you know I'm saying because I understood I understood the situation but there was just no way. Yeah, I was in the medium one time and this is what wasn't fraud. It was literally it's like 8 o'clock at night. I'm at the medium.
Cop walks in, you know, everybody's locked in. This is the medium two tiers. They're watching TV, top walks in, looks around, he goes cocks. You know, it looks at you and I walk out. I'm like, yeah, what's up? He goes, come here is come here. I'm like, well, what's going on? Like, nobody leaves at eight o'clock eight or eight. It's like, it was like probably eight or nine at nine. Let's say it's eight late.
They're at 10 o'clock count right now. So I'm walking he goes come here and I'm like, what's up? He walks over the door. It's got the salary port. He opens one walks in closes it opens the other door. I'm like what's going on is just walk down to where it to a unit which one a 1a to it go to the a units the building and I'm like go I'm like I walk down to I'm
It's fucking dark, bro. I've never been out. I'm scared. I've never been outside when it's dark. I walked down from I was in B unit. I walked down and there's a couple of CEOs down there and I'm walking up. Listen, I was actually praying. It was like the fucking FBI or something like they needed to ask me a question. I was like, please let me get out of here. I walk down there. I walk up and the cop he is Cox and I'm like, yeah, what's up? What's up? And he goes, all right, listen,
He said, I'm looking at a condo. I'm looking at a townhouse right now. It's going for 195,000 the entire complex. He said a half of them are in foreclosure, but this one's finished. So and I'm like, okay, and he explains the whole thing and I go how many of them are actually owner-occupied cell are sold and occupied by great question and not great question. And he's like, oh this many of these like I could put down the 20%. I'm like, he's like, what is it worth it? I'm like,
This is Andy do frame doing all the fucking guys taxes for right and and I'm teaching the real estate class like
This would be hilarious if I wasn't the guy in prison, right? Right. But yeah, we talked until almost 10 o'clock and he was like and the other guys are asking questions and they're like, all right, listen, you got to go back and be you guys got to be counted at 10 o'clock. So they they walked me back and I just remember thinking like it is it's surreal. It is surreal happening and I just and I don't know if you had this revelation, but what I realized and I really realized at that point too and
You know, sometimes when you do the bullshit like crime, you really realize, you know, with the resources I had legitimately, I could have really repurposed this to really create another business or another helping people, giving people information, helping to get it because the truth is they really those cops were looking for information all the time about how to do business, how to run the day. You know, the other thing because you've done because you did
All the flip in the contract because you had given all the things you've done you went from the most basic type of mortgage deal all the way up through through the most complicated right you're taking you're taking.
Apartments that are zoned as apartments and you're turning them into condominium. So you're you're going through the rezoning process. You're going through all the things that make this thing an individual unit. You're you're having to get them insured. You're having to do right up the condo documents. You're this is extremely complicated. So you've gone from one extreme to the other most real estate agents who everybody considers
The expert, you know what they've done? They went to school, they passed their test. And now what they do is they go, well, what's the address? And they drive that person to the house and then they put them in the back of the car and they get them out of the car and they walk over and they punch in the code to the lock box. They open the door, they go, this is a lovely two bedroom or the three bedroom. They show them the place, they walk back and they go, oh, I love it. They write up a contract and that's all they know.
They don't know anything other than I show a house I write up a contract if you said hey can we do a simultaneous closing on this I'm sorry what hey can we do an owner a second mortgage hold back I'm sorry I don't know what that means could are these people willing to do owner financing I don't understand what you're saying like all of the can we do a wraparound mortgage they don't have the ability to know
Any aspect of anything other than the one single thing they've been taught, but they're the experts but someone like you because you've gone from knocking on doors all the way up to the very top. I would say the only other thing as far as residential real estate would have been new construction of the condos themselves, which you'd already done the rezoning you were already in the process of that other than that. I would say there's nothing
That that you have it and really the renovations are practically that's practically new construction on some of these things. But anyway, it's funny the amount of knowledge that I had and that you have and I know because we've had these conversations. If you said, hey, can we write this deal up? We're going to borrow the money. Can we have a take down clause?
You ask a realtor they don't have a clue what that is right, you know, so what's funny is knowing all that whole gambit gives you such a wealth of information that you could have that you could you could utilize to your advantage. There's just there's there aren't people out there to answer those questions and the people they think are experts aren't experts aren't aren't experts at all. And the thing is most of them you go to a normal
Normal real estate agent you ask them. How do I get this deal done all that will go to your bank? You know, I know my bank has said no, right? I'm sorry where you can sit there and say hey, can you get the seller to hold back the second mortgage? Can you get an owner finance? Can we do a wraparound mortgage? Does he currently have a mortgage? Can we do a subject to loan like, you know, can he pay my cake? You know, how much money do you have now? Okay, you could do this and all of these are legal right instruments.
To buy the house real estate agent doesn't know. No, not at all. They're clueless. They didn't think like that. No, no, that's too complicated. It's not too complicated owner-finance deals are the easiest, right? They are the easiest. They are they are they are the easiest and to that point it really it really
You know, like I tell you all the time, the beautiful thing about real estate and opportunity real estate, it allows virtually anyone to do a billion dollars with the real estate outside of someone's door within our city. And there are opportunities to play in it at some level, whether it's a house or office property or strip mall. And it's one of the few opportunities where you're not going to be able to go in and buy a company. You know what I mean? Just like that person. Well, you can. But the point is that real estate is right here. It's local. It's where anyone
Can play the anybody has access access. It's a crack deal guy. He's a draft out of high school has very little education as sold has gone to prison has gotten out. If he has enough knowledge can become a multi-millionaire would never get licensed. Right. You don't have to be licensed. No, if I forget license hurt you in terms of that process of though. Yeah, because you it opens you up the liability and disclosures, you know, a lot of people in prison.
I'm not a lot but you had segments of these young guys that were like out of Miami those things like that. They were so rock and just buying little houses with the extra money that they had that they bought. They had three four property like 24 25 years old three four houses that they own that these have to buy and just was with the extra crack money that they had where they had them where they were going free and clear houses, which I saw a few guys with that as well from the classes that um that um taught across the um across the um board but the idea is you know
Look, when I got sentenced, when I got sentenced, ultimately, I got sentenced. I got nine and a half years in prison. Might as well rind up. Might as well rind up. No, it's actually, I did not, it actually was nine years. I did doing six and a half years in prison. You know, prison literally, literally, you know, my life was pre-prison, then after prison. But prison actually was one of the more enlightening,
Uh, you know, this is saying you got to meet me. I got to meet you. Listen, that was a high of it. But prison really, really sounds crazy. But prison worked for me because you get that point in your life where you need a different level of understanding in terms about yourself in terms about your bullshit about back to the con man thing.
No, but it was interesting when we did meet in prison, but the thing like I tell people all the time, I thought was really see here's the thing and
About interesting people in prison and really learning from people in prison. I thought what I thought was really interesting about you and I tell people this all the time was just how you had everyone engaged that and that's what I thought was important just a whole engagement of keeping everyone engaged and then sharing the ideas at the end of the day. We were constantly evolving sharing ideas sharing thoughts.
And okay, you know, I had smart rooms. You had Trommelville. That's not that's a lie. That is not what happened. That is not what happened. Listen. No, I'm not going to let you do that. Listen.
People would ask me what would you invest in and like if you were getting out of prison like what would you invest in and I was teaching the real estate class and I used to tell people look because this is an entry level anybody could do it right like we talked about this earlier. I mean, I know it wasn't on on on this but it was earlier and it was like look it you know, some of these guys would teach these little classes right where they talk about like, you know here how do you build a mall?
build a mall. This guy's never had a job or he's the best job most he's ever worked is like he was a busboy and then he started selling drugs or he was robbing banks or whatever like he's not going to build a mall. So don't try and teach this guy how to build commercial buildings like what is accessible to everyone is buying a single family home. And so what I was teaching people was like look buy a single family home and actually I'm gonna tell you how this went wrong for me once. It was I was teaching the
Real estate guy because one of the last classes we did I said, hey, you can get out save up 5% get yourself your credit in good shape and you can buy a house owner occupied owner occupied, you know, maybe you do move in it. Maybe you move in whatever so your intent is to move in right you buy the property for let's say a hundred thousand. I know that's a that's a round number. What it may be 300,000. Maybe it's whatever.
So you buy a house for $100,000 put $5,000 down get the owner to pay some of your closing costs, whatever, however, the deal works. So for five grand down and good credit, you can buy a house. You turn the living room and dining room into bedrooms, right? Put up a wall cost you a thousand bucks.
You know, put that so now you can rent out all five rooms for I used to say 150 bucks. I mean, that would be probably a couple hundred bucks. What are you charged right now? So weekly weekly, we dive towards about $200 weekly 800 monthly. There's a bathroom like a master bedroom, right? They are is 250 a week a thousand a month. Okay. So back then I was saying like 150 because this was
10 years ago, so I would say that and then we do that. I do the math for them, you know, boom. Here's your mortgage payment. Here's taxes insurance. Here's what the electric is because you have to pay the entire bill. You know, you go we go through the whole thing and then I tell how much and these things are making between 1500 to $2,200. I mean, they're making a huge profit. Sure. That was at a buck 50. I know yours is a lot more profitable.
But that was back then I would explain all that to them and and I would say you could buy one and then it doesn't take long for you to be able to buy another one and another one and I had like kind of like a three-year plan like it's it's getting rich slowly right well I would explain that but the thing is a lot of guys would say stuff like you know yeah but in there a lot of turnover about yeah initially there's going to be some turnover but you're going to get guys that are going to be if you these aren't these I wasn't suggesting you build you know or sorry rent out
slums right these are good clean room sure so where they're safe and secure and so i i would explain that and and i would say look if you if you're concerned about high turnover and that is when i said what you might want to think about is all these chomos here and i'm in a class and there's shows in the class i'm like these guys have nowhere to go
You know, they were getting out of prison and they had nowhere to go. These guys are sleeping in tents behind Walmart. I'm like what you do is you could rent to them because when they move in, they'll never leave. Nobody wants to rent to them. If you're willing to rent to them, you could rent to them. And so listen the and I would say I go and you can charge them a premium like you can charge them more than the hundred bucks you put on 150 is these guys are smart and
They're not really criminals they're perverts right but they'll get a job because they don't want to go back to prison they're smart enough to know i'm not going back to prison i'm terrified i didn't have a good time so they'll even though this guy's got a master's degree he'll lay drywall because he doesn't want to go back so i suggested that and that turned into
showville showville showville showville showville showville showville showville showville showville showville showville showville showville
But the concept initially rooming house and then you came in when I had explained I remember to I'll remember I remember this when I said listen and what you could you could do you could run into the chose. I'll never forget that look of disgust on Dawsey's face. He was like what? I'm not going to do that. It was just disgusted that I would even suggest it and like I was talking earlier. I rent to chose to chose now now. Yeah, I rented that but I think I
I think when you said it to me, I was thinking, but again, I still shouldn't be discussing. I didn't understand the market. Exclusively a choke me, but choke communities make money. They do. They have what's called proximity. So they have to be a certain number of feet, a thousand feet from schools, churches, churches. I never understood the churches, the schools, churches, the schools, churches, but I, but I, we went, I rented them now in, um,
I remember so we had this whole conversation multiple times. And that was just one aspect by the way that wasn't my whole goal. But then I remember six months later somebody comes up to me and says yo, bro.
Have you have you seen a business plan written up? Dawsey's business plan. Yeah, bro. He's doing this whole smart homes thing. I don't know if you call this smart rooms, smart rooms, whatever, you know, whatever it was and I was like, what do you mean?
And he said yeah, yeah, he's talking about but you were building you would all he'd already gotten a guy. He got a guy who was a Charlie. He was in your unit was he? No, no, he wasn't a unit. He wasn't my dude. He was the he was a charlie a draftsman or an architect. Yeah, he was good too. He had a whole he had the whole thing about doing it with houses at that time doing with a high rise.
He's talking about building. Yeah, it was a high rise. Yeah, it was a high rise that we did. He had. Remember that? Yes, you had. Yeah, we had plans. We have pictures drawn out the whole thing. Yeah, we're in there fucking with. What is this? Oh, smart rooms.
We bumped into him and he just he just took my little nugget of an idea and ballooned it and threw steroids on it and boom, it's blown up into something completely different. And I remember thinking, you know, okay, well, you know, we'll see what happens with that. And then later I get out of prison and I get out of prison.
He's got a website. He's got multiple homes. I'm talking to him on the phone. He's walking through the place. So yeah, I'm in one right now. We're renovating right now. Look at this. And I'm like, and he's on probation. We're on probation. You know, the thing was, was that I was sitting in prison.
I mean, I never liked being in prison. But when I would sit in prison at Coleman, I would sit there. And the thing I noticed in prison was two things, which I thought was strange. I was never bored in prison. I'm thinking, well, I thought you go to prison, you get bored. I was never bored. I was never bored. And there was always someone for me to talk to. And then we had the cubes, the rooms, I was able to go to people's cubes, I was able to
asked them for food. I was able to move out. I was hitting people for food. I was able to move back and forth. And I thought to myself, how come these communities that we have here in prison, how come they don't have these in the street? There you had the TV room. You had the microwave room, people cooking. We had the shit. We laughed in my cube day and night, night and day. And it worked. It was functional. It flowed. It made perfect sense. And it was the real thing because we had these focus groups in prison.
it when i would read the wall street journal i would read about housing prices and then we studied the median average income coming it made no sense how the hell is the rent approaching at that time is maybe approaching 17 1800 nationally
How are you going to pay rent or mortgage? Shared housing is residential housing. This is, and again, back to your point when you can have, now we have houses where
You could have literally seven, eight, nine, in some cases, 10 bedrooms in one house. You have 10 bedrooms in one house. If you're renting $700 a room, that's $7,000 a month coming in. What's that? $82,000 a year, if I'm not mistaken, coming in yearly from a house in the hood. And if you rented that house as a single-family house, you'd make $3,000, $3,500, $4,000, $5,000. You maybe, maybe make a profit of $300 a month. Maybe, maybe.
And you get one bad tenant, that's all wiped out. Yeah, yeah, because now you renovate it, put it back on the market. It's at least a month to two months before it's renovated. When I have landlords come to me and they're running out of single family, it makes absolutely no sense. Why would you buy a house where you're making $300? Mind you, one bad tenant can kill your positive cash flow for what, two years easy. But that's what's great about
You're taking a loser rental property, which is a single-family home and you're turning it into an extremely profitable one and it's not just profitable. It's never vacant. It's not breaking because all five or six of those tenants are not moving out at the same time and they rent out quick quick like people think. Oh, how do you get a boat? It's easy. You can put a sign in the front yard. You could run an ad in and crisis. I had a buddy you already know this so this is really just for people because you already know this.
I had a buddy when I was in the halfway house. I worked for him at the gym and I was telling him, bro, he's like, I was like, listen, because he was like, man, we got to do something we got to I was like, absolutely. Like, you got about six months with me. So utilize me. What do you want to do? We want to flip houses, you want to do whatever. And and he was I was he was like, what would you do? I was like, if I was you, let's go buy some rehabs, right? You've got the money. Let's buy some rehabs. We'll renovate them to make them rooming houses and we'll rent them out.
Um, that didn't work out because I gave him stomach the fact that he didn't want he didn't want to do it like he didn't want to get his hands dirty. He don't want to get dirt under his nails. He said raised rich whatever. Um, but I explained him and he was when I told him the concept and did the numbers for him. He was like, bro. I don't I know that you know, but nobody's nobody's going to rent a room, right? I was like, listen, you grew up in Avila Avila. Your house was bought the minimum house. You could build 5000 square feet.
It's a fucking one and two three million dollar house. You've never not had a brand new car like you don't understand people do rent rooms. And and so I'm explaining this to him. I said you want let's do this. Let's put an ad on Craigslist. Right. So we created a little ad about renting a room for like 175 a week 175 for your deposit.
And then we put it up and he was picking the pictures that he uploaded. He was trying to pick like nice nice rooms. I was like, what are you doing, bro? That's like a model home, right? No, let's find one that looks like oh there this one looks like a the bed's not made. It's thrown together like almost like a kid's room. Put that one up. He's like nobody's going to rent that. I was like exactly you're saying this doesn't work. I shit you not within an hour. No within two hours. He got 20 phone calls. Absolutely. He had to take it down. Absolutely. They don't want to see it.
I'll take the room. I'll take the room. I don't even have to sit down. I'm sorry. He just started telling everybody sorry. I already rented it. Damn man. I just seen it too. You got anything else? He couldn't believe it. Absolutely.
I have a room brokering program where we actually broker rooms for other landlords. So what we do is that I show people how to take landlords who want to get into the rooming business, like your buddy, and how to bring landlords and peer them together. And we take commissions and fees and so forth and so on. But literally, you could like, of every room, you make $1,000, $1,200 on the front. Literally,
People will send money to my website. All they do is look online, pick a room. Literally, they'll send me thousands of dollars per week just from looking at the rooms online. Another way that they do it is people will call me. Hey, I'm looking for a room. I need to move. These are people with SSI, Social Security, working class. These are people that are some of them professionals and literally very often just send them a video of the room. That's it. Send me a thousand bucks.
Yeah, it's so limited on their ability to find something that inexpensive that that they have to take them because if you think about if you're trying to live somewhere for $200 a week, where are you going to go for 200 bucks? You're not absolutely if you can find it. It's like I'll take it.
And there's 100 million Americans that make $400 to $500 a week. That's what they're making. So all they can afford is $200 a week. There are literally 100 million Americans are in some type of roommate arrangement. It could be with your wife. It could be with family. It could be with a shared housing. It could be at a college dorm. It could be seniors. Senior housing, $3,000 a month.
is what their senior housing is paying on average nationally and they're backed up three years. Backed up three years. People are looking for housing. There are subdivisions where they used to kind of be, people couldn't have guests. You go to subdivisions today, you'll see cars double parked lined up throughout the subdivision because people are cramming into homes today. Now, the idea is taking houses, converting them into multi units. The house becomes an apartment building.
Literally, you know, I mean, you know, it's a that housing is an issue. Well, one Inflations just crush people, right? So but you know, it's a it's an issue when like in Cali in LA in Tampa and a lot of the zoning is now allowing. Yes. Absolutely. Absolutely. Absolutely. Absolutely. Absolutely. Well, this is a housing mandate.
There's a housing that even code enforcement comes into properties. I have a lot of landlords that I who I do their rentals with where we do multi rooms. They'll say to me hey code enforcement came by code enforcement. I've come all the time. Don't worry about code enforcement. Their main concern is
Are you treating the tenants? Well, right, but they'll never have a problem with you providing housing because that's where the mandate is going. They have to can't run us. It can't be a slum. You can't know that all and they want you to keep the tenants. They just want to make sure the tenants are in and there was a time where it was a different story. But today they want people in houses in yours, especially people that are that are that are in the affordable housing space, but there's money in affordable housing. A lot of money in it. There's a lot of money in it. They need to get these rooms.
and again like you said we're taking basements will be the house will be 1500 square feet in a footprint we have a 1500 square foot basement literally in the basement will create literally seven rooms so if someone's basement at 800 a room you have seven what's that four seven times eight times that was at 49 so you're getting four thousand nine hundred dollars a month just from the basement
You still have the upstairs, we have the living room that you could convert the housing to a rentable room. You have the dining room you can convert to a cash flowing room. It has three bedrooms. You're still picking up all those rooms you could build in bathrooms and literally the cash flow is unreal that comes from these units. So that's really where we're putting people into. We're showing people, listen,
You don't have to worry about buying a multifamily. Like you said, they're not buying a $2-3 million multifamily. They're not doing some of those crazy ass deals that I was doing. But literally, you can take a house these days with the cash flow room system and you could turn it into a multi-unit cash flowing property. Each room is a cash flowing furnished room. So now the rooms act like an apartment giving you multi-units of cash flow. And that's how you build real wealth. I was going to say,
Right now, if you wanted to buy, you know, 150 room or unit apartment complex, well, you have to have, you have to have taxes for three years showing that you've done this before, that you know what you're doing, you have to buy a property that can prove that it can pay for it. Like the the level of the entry level, there is no entry level to that. It's like the average person can't do it. But
but residential mortgages are extremely available for the average possible so if you're thinking hey I work at I work at Walmart as a as an assistant manager and I make you know whatever $55,000 a year well guess what you can start buying two or three single family a year just by going to the bank absolutely buy them
Turn them into rooming houses. One, two, three, three years later, you quit your job. I quit my job and then just live off of that. I've got people putting up with one or two houses. And here's what's going on as well too. The last two deals I did with two of my clients, they actually had a property where they were doing a four-bedroom house. They created about another four-bedroom house because they have eight bedrooms all together. They went to buy the house, the houses. It's like a $200,000 house. They need approximately $40,000 to get into the deal.
They went got funding in the for 160 other 40,000. They want to get an unsecured loan, which they got right off the internet. That unsecured loan ever gave them the $40,000 they had in three days. They just want to put the property. Now they have the property. They're setting up to refinance in about six months. But really, the point is that on the property itself right now, the property is currently generating a give or take, give or take on it, probably somewhere around the space of $7,000 a month again.
Real profits of about $3,000 a month net profit. That's third $36,000. So you're making $36,000. You don't get up and go anywhere. The money just comes and we call it magic money. The money just comes and comes from rental residual income that comes in and that's from those rooms. Are you are you teaching these guys and managing themselves or because my
My ex-wife has a bunch of these properties like that and she has somebody she calls him a house man. She always have one guy in there that will collect the rent, mow the yard, she'll give him a discount on his, mow the yard, you know, clean up everything. And then he calls her like once a week and she drives up and gets out. She goes, I might walk through the place, but she says, if I trust the guy, he's been there for, you know, six months or a year or two. She goes, he'll come out and just give me the payment or cash app or whatever. Well, a lot of people will cash app her.
But she said used to be they walk out and give her the cash but but she would always have some guy show I'm like said you're not you're not even she's like I'm not doing no they were absolutely and I got one better for her but our system we teach them how to do auto pay so the money's automatically debited from their account I think they all pay her like cash right so this way we have we have we look at the trajectory of their
Income direct deposit so we can see you get paid on the third you get paid on 9th you get paid on the 15th. So literally it debits on those days because you have a history of those debits taking place on this way as soon as your money hits it automatically debits right soon as it hits
This way they don't have to think about it. So that's part of the management system that we use. The idea too is the onboarding is a big part of it as well to show them how to qualify tenants showing them how to use the managers. We have one of my buildings. We have a lady named Crystal. She's down there. She has the documents the paperwork. She literally she calls them. I show our process shows him how she does the marketing. She calls them down.
She runs the room. She qualifies them. She calls me up to do the processing. We have our team do the process and the money comes right through. But like your wife, they cover the whole gamut of the whole process. So now there's cash flowing. It makes money. You don't have to lift a finger. And that's a big part of it too with the management. Once it's structured, you don't need to lift a finger like your wife. So I mean,
So are you teaching? Are you just doing your own? So what we do is that we do our own, we do properties that we build and develop as well also. But in the same breath too, what we do is we teach people how to acquire real estate
How to build out that real estate, how to get the real estate finance because a lot of people think they can't do a deal. They think they can't get a fine. We show them how to structure it. We show them how to use properties that are subject to we show people how to do lease purchases. How do you rent to own because a lot of times you really don't need to own the property. You can actually rent a property and release it.
We also show them how to do work with different programs, how to work with SSI, how to work with seniors, how to work with travelers, how to work with students, how to work with professionals, how to really target your group for your shared housing concept, and then how to convert
additional space into cash flowing rooms, because once you're running rooms, you no longer need that living room. You no longer need that. You don't want that. You don't want that living room. You don't want that. And they're fine in their rooms. You don't want the garage suddenly, you know, off a garage, two rooms on there, you can make $20,000 a year off your garage. Just the garage, 20 grand a year, just from the garage, then not to mention, so we should ought to convert those spaces as well. How to have that management structure and how to really scale it.
Because the idea is if you're making $3,000 a month profit, how do you get three, four, five, six of these while working your job? How do you have the house man like your wife managing it while you're going to work? And suddenly you've got five of these creating $3,000 a month. We're getting $15,000 a month coming in cash flow.
Not to mention equity. You're getting properties below market value. You have real estate. You're building real wealth through these assets and real estate as well, too. So these are the things that we're putting people into where we're giving them the blueprint on how to structure this, which is a really big important part of building wealth. And it's right here outside your front door. I was going to say what happened to because when we were talking about this in prison,
Well, when you were telling me about how you stole my idea and tweaked it just enough that you felt good about it. No, no, this is different. This is different. All my houses are going to be yellow. It changes everything. But one of the things I remember, this was when you were talking about building. I wonder if this is still in your where you had workspaces
Is that what did what did you remember that? Yeah, I do remember that. It was you know what it was. It was the small offices concept out of small office kind of like a or like a work from home type of thing, right? Yeah, because it's like, hey, you can live and have a shared office space, which is kind of like what was that? We we works. We work kind of like the we work thing. But you were talking about I think you were talking about that when he was doing right before he went under. Right. What an idiot. Like he like he had a great concept that he ruined. I don't something something something. I remember him.
But you had you were basically saying that but they live there and I was going to say so have you ever thought I've actually two questions. That's that's the first one. Have you have you thought about going back to that or no, you're just going to stick with what you want. So here's my philosophy with rental properties and running rooms. The idea is how can you a help people which is a big part of it. Housing is a function that really helps people in that process. But be how can you
Acquire these properties, create the rooms, and scale as quickly as possible. How can Mrs. Jones, who's a nurse, working as a nurse, how can she acquire properties that allow her to make $3,000 a month profit? So if she's bringing in $7,000 a month, she needs 10 rooms, how can she get those properties quick and scale them quick?
couple of things you need to be able to understand how to get financing that's one part of it so how to pay for that so we show so again and how do you buy these houses where the square footage is there we can get 10 rooms so we know that a basement would be great because you can cut the basement up and create four or five rooms on it we know garages are needed we can cut them but once you start doing that way living rooms bedrooms dinings like you said in little streets
Wherever those spaces for us to create rentable cash flowing rooms, we no longer have to build, we just have to build to suit that market. That market has a hundred million Americans that really are in that space. So once we build it and we can create that space there, we can just cash flow them quick, cash flow them quick, cash flow them quick, cash flow them quick, buy these houses, cash flow them, buy these houses, and we're creating cash flow quickly and anyone can do it. So you're not going to answer my question? The answer is we don't focus on that. We just focus on rooms.
We only sell cheeseburgers. We don't sell hot dogs. We don't have different versions about the market. Okay. The other thing was and this is when whenever I was talking to people about it, they were always like, oh, you're going to get nothing but a bunch of but derelicts in there. That's not true. I because and I used to say this is like listen,
Here's the thing the guy that works at tire Kingdom that has two kids he's divorced and he's got child support payments like all he wants is to work see his kids and have a place where he can go to sleep and keep his stuff where it's not going to be ripped off and you don't have to listen to.
Gunshots in the in the street. It's not, you know, it's not in a horrible place and he's safe that hey when I'm done with work and seeing my kids and do whatever I can go home my stuff's there. I can go to sleep. It's a clean environment. You assume saying absolutely that's who unless it's in if unless it's next the project and you're specifically selling your renting rooms to drug dealers, but you know, but if you're going lower middle-class areas or middle-class areas then
You can pick good tenants that are like, listen, but I just need some place to keep my clothes and sleep. That's affordable. Check this out. Just to really elaborate part two is rent has gone up four times the pace of the average American income.
Literally, rents have gone up since 1985, 195%. So the people that are running rooms today, if you make under $38,000 a year, you are in some type of room or you're in some type of shared housing. So the thing is, is that it's an economics thing. If you make under $38,000 a year after taxes, that might be four or five hundredth week. The average rent in the United States today is $2,000 a month. You cannot move into an apartment.
You have to move into a room. It's not an option. So once you understand that number and you understand they're saying there right now there are 6 million units of affordable housing houses needed or affordable units affordable housing needed by Americans today 6 million they brought up at the vice presidential debate. They brought it up. So the thing is that people need and they have to move into these rooms. That's why for landlords. This is one of the biggest wealth opportunities landlords are getting
Filthy rich rents beat out cryptocurrency rents be the house stocks bonds rent rents be inflation. There's no investment that will produce for you what rental income will produce and that is an explosive opportunity because a house becomes an apartment building.
Hey, you guys, I really appreciate you watching. If you like the video, do me a favor, hit the subscribe button, hit the bell so you get notified of videos just like this. Also, if you're interested in any of Dalce's programs, go into the description box. We're going to have the link to his website. You can go there. You can sign up. You can check it out. It's super interesting. He's actually got some
Videos you have videos right? Yeah, actually come my free come my free webinars. Those are absolutely fantastic doesn't cost a penny. Just come get information learn. I'm telling you they're multi room.
Program is absolutely explosive and it's free come join me and get some real information. Sorry. No, no, it's perfect. It's perfect. It's better than I was going to do. So yeah, yeah, go go in there. The link will be in the description. We're also going to put all of a doll sees social media links. We're also going to put his
And he's he's got a he's starting a YouTube channel. So that YouTube he's gonna have some interesting stuff on there to check it out subscribe follow Really appreciate you guys watching this also, please consider joining our patreon. It's $10 a month It helps us make these these types of videos and it really does help us. So thank you very much and
It started with a scream inside a quiet Maryland home. A mother trying to protect the family dog and her son in the grip of a violent hallucinogenic rage.
By the time it was over, she was dead, and he claimed LSD made him do it. His name, David Minor IV, and we talked to him. Listen to Invisible Choir every other week as we uncover the most haunting true crimes you've never heard of, available wherever you get your podcasts.
▶ View Full JSON Data (Word-Level Timestamps)
{
"source": "transcribe.metaboat.io",
"workspace_id": "AXs1igz",
"job_seq": 3551,
"audio_duration_seconds": 12529,
"completed_at": "2025-11-30T21:59:33Z",
"segments": [
{
"end_time": 29.991,
"index": 0,
"start_time": 0.009,
"text": " Talkspace is the number one rated online therapy. They work with many insurance companies and most people with insurance pay zero dollars for therapy or psychiatry. You can change your provider for free. This helps you find the licensed therapist who fits your needs the best. Therapy can be costly, but part of the mission of Talkspace is to provide quality care that is accessible and affordable whether or not you are insured. Talkspace makes getting the help you need easy. Let me tell you more about why I love Talkspace."
},
{
"end_time": 59.531,
"index": 1,
"start_time": 29.991,
"text": " I learned that talking things out can change your whole life. When I finally opened up about my past, it helped me understand myself and make better choices. As a listener of this podcast, you'll get $80 off of your first month with Talkspace when you go to Talkspace.com slash podcast and enter promo code SPACE80. That's S-P-A-C-E 8-0. To match with a licensed therapist today, go to Talkspace.com slash"
},
{
"end_time": 84.821,
"index": 2,
"start_time": 59.531,
"text": " podcast and enter promo code SPACE80. It started with a scream inside a quiet Maryland home. A mother trying to protect the family dog and her son in the grip of a violent hallucinogenic rage. By the time it was over, she was dead and he claimed LSD made him do it. His name David Minor the fourth and we talked to him."
},
{
"end_time": 109.889,
"index": 3,
"start_time": 85.708,
"text": " Listen to Invisible Choir every other week as we uncover the most haunting true crimes you've never heard of. Available wherever you get your podcasts. Hi, I'm Jean Chatsky. You may know me as the host of the Her Money podcast or the financial editor of NBC's Today Show for 25 years."
},
{
"end_time": 127.79,
"index": 4,
"start_time": 110.35,
"text": " Today I'd personally like to invite you to join my women-led investing club. It's called Investing Fix with two X's. We walk through current market trends, teach investing fundamentals, and build a real portfolio together."
},
{
"end_time": 153.285,
"index": 5,
"start_time": 127.79,
"text": " Plus your first month is absolutely free, so come check us out at investingfix.com. We'd love to have you. When you start getting paid, one group of people leave the room and a whole new usher in. That shit is superficial as and you love it. Basically across a check $525,000 for only thing was going through my mind was how much"
},
{
"end_time": 183.524,
"index": 6,
"start_time": 157.005,
"text": " Within 36 months, I would be in prison, sitting across from you and the child. Born in Brooklyn, New York, parents Jamaicans, grew up in the 80s, man, where shit was crazy in the 80s in Brooklyn. This was, you know, the funny thing about growing up in the 80s, I tell people this all the time, where"
},
{
"end_time": 214.036,
"index": 7,
"start_time": 184.189,
"text": " People kind of say, Oh, where we are, you have to have a mean fight game and you have to be able to fight and kick some ass. No, it's true. Okay, it's true. The bullying shit. They talk about bullying, the bullying that they were doing in the 80s. I mean, today, I mean, I mean, motherfuckers are still traumatized from that shit. You know what I mean? I mean, you had to literally come out your door and be fighting like 10 fucking people. And I think that that whole logic just completely"
},
{
"end_time": 243.285,
"index": 8,
"start_time": 214.036,
"text": " I think people become emboldened the more you go, the more you go and the more you go. So at least a business to hustling and then and then if you don't watch it, you know, you can do into criminal activity, which is a whole"
},
{
"end_time": 260.503,
"index": 9,
"start_time": 243.865,
"text": " Another dichotomy. Your mom was in real estate, wasn't she? So my dad was a real estate broker. Oh, okay. My dad was a real estate broker. Good memory, Matt. Good memory. Damn, Matt. I'm glad that you remember that. Damn. Thank you, Matt. Uh-oh. No, it was my dad. No, no, but close. My mother was a banker."
},
{
"end_time": 289.053,
"index": 10,
"start_time": 260.503,
"text": " So my mother was she had a master's degree in finance. She was a banker with Chase and my father she was actually did trust and did management for large accounts and my father though was a real estate broker and he would buy properties, he would buy housing. That was my introduction in the real estate. I remember being a little kid and I was close to my father always. I still am close to my father and I remember, you know, just driving around my father up and down Brooklyn. This is like early 80s and me sitting here and him driving through was miss miss miss miss."
},
{
"end_time": 306.032,
"index": 11,
"start_time": 289.326,
"text": " How much would you like for that house? How much would you like for? I'll give you a hundred thousand. I'll give you 200,000. I mean, he needed out of money, but you know, it should feel great. So that was my introduction into getting roasted. My father was a real estate broker. So but"
},
{
"end_time": 321.425,
"index": 12,
"start_time": 306.51,
"text": " Ironically, though, we did make a big push in real estate when I was about 21 years old. When I was 21 years old, I came down to Atlanta. I had never done anything in real estate. I didn't even like real estate. My father,"
},
{
"end_time": 347.79,
"index": 13,
"start_time": 322.193,
"text": " Cause you know, he was always waiting on a closing. I never understood that shit. Like how you always waiting on a closing? We're going to get this closing was like was like Christmas time. You know what I'm saying? It was like we got a closing coming up next month. We got a closing, but right now we're broke, right? We got the closing coming up. You know what I mean? So the thing was, was that I never stood it. But when I was 21 years old, I had come back, you know, I used to drink a lot. I haven't drank since, you know, I hadn't drank since I was in my 20s. But back then,"
},
{
"end_time": 374.48,
"index": 14,
"start_time": 347.79,
"text": " I was a bit of a heavy drinker and I had come back to Brooklyn from Atlanta 21 years old got in a bunch of trouble and he was starting a real estate rental business out of one of his brownstones. So when I go in there to he told me listen just help this lady Charmaine. I have some lady named Charmaine. This is in Brooklyn. It's in the brownstone main floor. He just said we're renting apartments. I'm like what the fuck he's renting apartments. How do you make money off this? He said listen just help Charmaine out."
},
{
"end_time": 400.128,
"index": 15,
"start_time": 375.538,
"text": " No problem. And you know, I'm gonna give you $200 a week and you'll be fine. Charmaine was like this. What year was this? This was like 1990. I was drunk, got in trouble in Atlanta, ended back up in Brooklyn. I'm 21 years old and it's like 19 maybe 92 or some shit like that. And"
},
{
"end_time": 418.558,
"index": 16,
"start_time": 400.862,
"text": " Yeah, yeah, Charmaine there. Charmaine was gorgeous. One of, you know, some chick he had renting apartments for him and I sat there and I'll never forget it was one desk. It was a big, you know, they have the Shotgun Brownstones. He owned the Brownstone and we're sitting there on the main parlor floor and he said, listen, help her out. They're going to be running apartments and"
},
{
"end_time": 441.544,
"index": 17,
"start_time": 418.558,
"text": " Did you know that Dell had a breach that exposed over 3.9 million customer records, including sensitive personal information? Then Ticketmaster had 560 million records compromised, but the scariest one is national public data. Just a few months ago, they suffered a massive breach."
},
{
"end_time": 459.94,
"index": 18,
"start_time": 441.544,
"text": " Potentially impacting every American. Over 2.9 billion records exposed. Things like full name, address, date of birth, phone numbers, and even social security numbers. Those records didn't just disappear. The hackers released them online for free. So if you think your data is safe,"
},
{
"end_time": 484.753,
"index": 19,
"start_time": 459.94,
"text": " Think again. That's why I use Aura, today's sponsor. Aura is an all-in-one digital security platform that monitors your personal data, including your social security number, across billions of data points. They'll alert you if anything sensitive shows up, whether it's on the dark web or in public records. And if the worst happens, Aura has you covered with up to $5 million in identity theft insurance. But it doesn't just stop there."
},
{
"end_time": 509.002,
"index": 20,
"start_time": 484.753,
"text": " Aura offers you so much more to keep you safe online. Things like real-time breach alerts, a VPN for secure browsing, data broker opt-out to stop companies from selling your information, and even a password manager to help you create and store strong passwords. Right now, your personal information could be floating around the internet, but you could head to aura.com slash mat and try Aura for two weeks"
},
{
"end_time": 535.52,
"index": 21,
"start_time": 509.002,
"text": " Well about 7.45 came and I'm sitting there waiting for it to show up December cold as New York Day and"
},
{
"end_time": 558.643,
"index": 22,
"start_time": 536.408,
"text": " She came, she kind of briefed me, she said, listen, just keep up with me, keep up with this process, you'll be fine. She's like 35 years old, fine as hell. I'm like, oh yeah, I'd love to work with you, no problem at all. Just well dressed, Trinidadian, fine as hell. And she said, we open at eight. I said, okay. Five minutes into her telling me this, like 745, going to 750, the bell rings and she says, let them wait. I said, okay."
},
{
"end_time": 580.503,
"index": 23,
"start_time": 558.882,
"text": " The eight o'clock hit and when eight o'clock hit it was and she's okay let him inside to go open these big wood doors and then go to the major when I opened the door there was a line of women there must have been about maybe 30 40 women from the door down the steps going down the other side of the steps because you know the brown stones kind of go up like that just don't mind of women going through"
},
{
"end_time": 594.411,
"index": 24,
"start_time": 581.101,
"text": " And just women, women of all ages, and some of them fine as hell. So I came back, I said, okay, I came back and I said, here's a clipboard, here's a pen, give me like a stack of them. I said, give everybody a clipboard. I ran out of a clipboard."
},
{
"end_time": 617.159,
"index": 25,
"start_time": 595.026,
"text": " These were people, they were on social services, public assistance, Section 8, public assistance, jiggits. They had an AIDS program called ERP at the time. They had a various array of these social programs. So I'm giving them the clipboards, giving them the clipboards. I'm standing here trying to figure out what the hell is going on. Well, long story short, she'd go through and as they were filling the papers out, she'd be in the newspapers."
},
{
"end_time": 647.039,
"index": 26,
"start_time": 617.159,
"text": " Well, I was here just helping out helping the process through moving the papers through same. Can you sit over here? Can you move over here and just kind of moving them through and she was started like she started, you know, maybe at 8 and she was done by like 12 1 o'clock. Well, we had done this a few times during the week. I'm opening the doors going back with the condom watch the process and one day."
},
{
"end_time": 671.766,
"index": 27,
"start_time": 647.654,
"text": " I said to her, how do you get paid off of this? She said, well, I get 15% of the years rent is split with your father. Well, the average rent was about $1,000 a month. So that's $12,000. 15% of that might have been, I don't know, I'm just going to throw a number on like 1800 bucks or something like that. And she's going to fall 900, 900. So I said, wait a minute."
},
{
"end_time": 694.599,
"index": 28,
"start_time": 672.346,
"text": " You're getting $900 from all those people every day. How many are getting an apartment though? Maybe even at 50% are well, how about this? She was running like an apartment a day and cutting out at like 12 o'clock, right? That's why she was working for like three hours. She's like making damn near thousand bucks and cutting out like like like she's just cutting out right away. So"
},
{
"end_time": 721.971,
"index": 29,
"start_time": 695.486,
"text": " I said, okay. She said, but you can't do it because you need a real estate license. I said, all right, you have to be a broker. I went to my father and I told my father, I said, hey dad, why don't you let me try a couple of these? You know, I knew my father, my father loved me to death. I said, dad, let me just try one or two of these. He said, all right, well, I'll let you try one or two of them. Let's see what you can do. So I'm there working with her. So now I'm working with her. I said, I'll just wait for her to leave. This chick would leave at 12 o'clock."
},
{
"end_time": 729.48,
"index": 30,
"start_time": 722.432,
"text": " Well, I just kept everyone coming. I just kept calling everyone back in. Shit, the first week I rented like four or five of them."
},
{
"end_time": 759.172,
"index": 31,
"start_time": 729.855,
"text": " Then after that, I rented, I just kept the whole process going week after week after week. Then I just turned the whole thing up. So she would be making probably realistically, I thought she did a split maybe three, four thousand weeks. I was making six, seven thousand dollars a week just from running rooms with this program. And it took off so, I mean, it hit so hard from these rentals with these government programs. I started calling my friends now. And I started calling my friends. Next thing you know, we built my father. And the chick got so upset and so offended by the competition, she quit."
},
{
"end_time": 778.131,
"index": 32,
"start_time": 760.009,
"text": " She absolutely quit the job. She just said, listen, you have your son going through here. You know, this is your broker. He shouldn't be doing this anyway. And he's creating competition. Now she's ethical. She's my father. My father looked at her and said, I understand how you feel."
},
{
"end_time": 808.319,
"index": 33,
"start_time": 778.422,
"text": " And I completely understand your position and good luck to you and she walked out the door and man we blew that thing up and we were running rooms literally I was probably averaging $5,000 a week at 21 22 and we were absolutely I brought in all my friends like me five six of us and we literally were just advertised we were called 0909 because the number was 718-363-0909 so everyone knew us as 0909 and we would have and then the"
},
{
"end_time": 828.183,
"index": 34,
"start_time": 808.319,
"text": " Chicks, I mean, you know, the chicks, man, the shit was endless, you know, you know, you know, women, you know, women on subsidized housing. When you said it was all women, I thought section eight, because I've rented section eight, never rented to a guy always"
},
{
"end_time": 847.159,
"index": 35,
"start_time": 828.183,
"text": " We were just brokering. Yeah, they typically get like a percent. I guess 15% is they get a percentage of the annual whatever is made, you know, or sometimes they'll get which is basically"
},
{
"end_time": 864.497,
"index": 36,
"start_time": 848.319,
"text": " It's basically like the first month's rent, you know, typically. Sometimes they'll get the first month's rent or something, I guess in this case a little bit more than that. Well, I think a little bit more than that because they were just subsidized housing and it was just kind of, you have to convince the landlord to take, well, the city was paying the commission."
},
{
"end_time": 885.759,
"index": 37,
"start_time": 864.65,
"text": " Okay, I thought she was calling and convincing them I can get you a tenant but you have to give us No, she was calling them convincing them take this subsidized housing tenant. Okay, take this subsidized housing We found a paperwork through the case managers downtown Brooklyn and they will cut the check to us through my father's broker's license and that's how we were getting the commission and"
},
{
"end_time": 914.206,
"index": 38,
"start_time": 885.759,
"text": " So the crazy thing was, was that that's why it was such a, all we did was just do, we called them breakdowns. We just do the breakdown, set it down to the case manager and they would cut the check. The landlords didn't have to give us the money. We just had to convince them she has Section 8. She's not going to, her and her six kids will not destroy your house. It's going to be okay. Don't worry about it. The GLEM come on in and we're going to, you know, guarantee, you know, that everything's okay. And they would, Section 8 would actually, well, the city would pay us the commission. But"
},
{
"end_time": 944.258,
"index": 39,
"start_time": 914.855,
"text": " That was during David Dinkins. If you're familiar with New York in the 90s, David Dinkins was the mayor, really liberal kind of guy. Rudy Giuliani came in, like after two years, they do was up the party was over. So the party was over. Rudy slowly but surely within I'm talking about like within a month of him being in office, those breakdowns, that shit was dead. So that was that's actually how I ended up going down to Atlanta."
},
{
"end_time": 959.957,
"index": 40,
"start_time": 944.497,
"text": " Because after a while, I couldn't make any money up there. My father's office is pretty much closed, and I ended up transitioning moving down to Atlanta. And I went to get into real estate business. I didn't know shit about the real estate business, but something said,"
},
{
"end_time": 980.06,
"index": 41,
"start_time": 960.828,
"text": " Something said that I was literally, you know, listen, if you've got, if you have that real innate deep hustle in you, like that hustle, you have to just really let out in some type of real hustle. Real estate is always a great outlet."
},
{
"end_time": 1006.715,
"index": 42,
"start_time": 980.333,
"text": " Um, you know selling rock was before that it was like a free a free detour and you skipped that part Yeah, selling rock was a pretty good. What was that? When was let's go back to that room. Well, so I moved out to atlanta I moved out right just when I moved down to it. So i'm with atlanta I was maybe 23 years old 24 years old moved down to atlanta which was just You know, I was excited. I thought I was gonna make all this money. I thought it was gonna jump I thought it was just going to be absolutely just through the roof, but"
},
{
"end_time": 1036.101,
"index": 43,
"start_time": 1007.534,
"text": " You didn't take off that way. You got to remember something. I was, I was alcoholic anyway. I'd been drinking excessively since I was, you know, night getting fucked up and then days going to work, trying to work. So I had a lot of talent, but you know, like anything else, if you have these dependency issues and you're dependent on shit, addiction is a motherfucker, right? So I was down here and I moved to Atlanta. I was like 23 by then and I'm trying to get"
},
{
"end_time": 1064.991,
"index": 44,
"start_time": 1037.056,
"text": " It started with a scream inside a quiet Maryland home, a mother trying to protect the family dog and her son in the grip of a violent hallucinogenic rage. By the time it was over, she was dead, and he claimed LSD made him do it. His name, David Minor IV, and we talked to him. Listen to Invisible Choir every other week as we uncover the most haunting true crimes you've never heard of, available wherever you get your podcasts."
},
{
"end_time": 1087.722,
"index": 45,
"start_time": 1073.302,
"text": " this thing off"
},
{
"end_time": 1110.555,
"index": 46,
"start_time": 1088.302,
"text": " So I go up there and literally just all this activity, all this traffic going on."
},
{
"end_time": 1137.892,
"index": 47,
"start_time": 1110.862,
"text": " One day he just says, hey, listen, man, he says, look, we're there. And I'm just there trying to get my shit together. I was doing a little telemarketing job during the day. He says, listen, he says, uh, you have a customer now. So he says, can you just give me the customer? He's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's like, he's"
},
{
"end_time": 1166.988,
"index": 48,
"start_time": 1138.285,
"text": " I go downstairs and listen, I took those two dimes and put it in that damn junkie's hand. And she gave me $20 in exchange, the transaction. And I don't know what happened. It's like she got hooked on the rock and I got hooked on that $20, man. And after that, I said to my girl, I'm like, do you have any of this shit that I can sell as well? And the next thing you know, I said, I'm only going to do this for two weeks. Well, three years went by."
},
{
"end_time": 1192.858,
"index": 49,
"start_time": 1167.108,
"text": " Three motherfucking years went by and, you know, three years of selling rock really takes its toll, you know, and you're selling rock to the junkies, you know, it's dangerous, you know, you're, you're, you know, you're getting into these crazy ass arguments or situations, situations, I could take a situation that was crazy. This cousin right here. I got a great story I could tell you."
},
{
"end_time": 1223.148,
"index": 50,
"start_time": 1193.712,
"text": " So we're in like this rock house, right? So they're like two stars, like a duplex. By the way, this very house that was the rock house back in 1990, 1991, 92, the lapidated house just sold for about literally like seven, $800,000 through the gentrification. That's a whole nother story. I got places in Ybor City that I was buying. I bought for $40,000. I see them listed for six and $800,000. It's like, I bought that house for $40,000 20 years ago. It's insane. Insane how much these places are going for."
},
{
"end_time": 1237.568,
"index": 51,
"start_time": 1223.148,
"text": " That is amazing how these houses do gentrification just take on just a whole new meaning. It's not all that gentle. No, it's not. You got to do the push out. You got to do the big push out."
},
{
"end_time": 1262.654,
"index": 52,
"start_time": 1238.183,
"text": " We, I get in a fight with this guy. This guy's harassing me while I'm, you know, selling, you know, I'm there, you know, reading the Wall Street Journal while selling the rock on the side. You know what I mean? Trying to make money because I'm preparing for my real estate exam. But I'm selling rock on the side. So I'm selling, no, right. So this was like a temporary thing, right? So I'm down here preparing for my real estate exam. And this is my cousin's shit, right? So I'm there"
},
{
"end_time": 1292.483,
"index": 53,
"start_time": 1262.654,
"text": " Long story short, as we're getting into the fight, we have to fight"
},
{
"end_time": 1318.66,
"index": 54,
"start_time": 1293.404,
"text": " At the house he goes up the street instead of me understanding. Listen, he's coming back. Just stop fighting after I ran them off. So I became incredibly confident. I said, I said, I said, listen, I'm going to really sell this shit one last time. We really gonna have this fight in the street in front of everybody. I go running up behind this guy up the street. This guy's like running, running. But what he's actually doing is he's pulling me away from"
},
{
"end_time": 1344.053,
"index": 55,
"start_time": 1318.968,
"text": " My family, my crew, the whole thing, right? So we get up the street, get a drink. I went there and I said, I said, I said, yo, motherfucker, I am going to kick your motherfucking ass this final fucking time. As he turns around, this guy pulls out an ice pick this long. He pulls the ice pick out and he, I'm thinking to myself, oh God, what have I done? Pulls the ice pick out, swings the ice pick. As he swings the ice pick, I jump back."
},
{
"end_time": 1362.637,
"index": 56,
"start_time": 1345.06,
"text": " By the grace of God, he misses me in the ice pick. I'm looking, thinking to myself, oh my God, I'm absolutely done. Swings the ice pick again. I'm thinking to myself, oh my God, I'm absolutely done. The third time, the third time, he brings this ice pick up. As he brings the ice pick up, I'm thinking to myself,"
},
{
"end_time": 1377.039,
"index": 57,
"start_time": 1363.063,
"text": " I am absolutely done. This is it for me. The ice pick comes up. I'm standing in the street. I'm looking. This guy's like right over me. He comes up with the ice pick and I'm thinking, oh, this is it. And then as he comes up, it's like he sees a ghost."
},
{
"end_time": 1404.957,
"index": 58,
"start_time": 1377.705,
"text": " When he sees this ghost, he turns around and takes off running like literally midway through. He just takes over. I look behind me. It's my cousin. He's got a gun pulled just like this right behind me. I'm thinking to myself, oh through the grace of God that this whole thing has absolutely I was like absolutely mortified and that was at that point. I started praying saying, you know, Lord, I need to find another line of work."
},
{
"end_time": 1428.575,
"index": 59,
"start_time": 1405.486,
"text": " This is probably not going to be the best line of work for me. You know, this is I probably need to find something else to do the whole concept of this is my cousin thing. I'm just like the whole I feel like if the cop showed up, I'm just an employee. Just really just kind of just move just move me up. So"
},
{
"end_time": 1458.063,
"index": 60,
"start_time": 1429.07,
"text": " You went back to New York? No, no, no, no. No, believe it or not, when that happened, I literally prayed on the corner. I literally was on the corner. I prayed and I said, you know, God, there's got to be something better for me to do. Clearly, I have more talent to my life. There's got to be something else I can do. I said, I want a job at McDonald's. I go around the room. I'm 27 years old. Let me just kind of regroup. I'm a Halleck. Let me just get the drinking off my back, the whole thing."
},
{
"end_time": 1485.026,
"index": 61,
"start_time": 1458.524,
"text": " Just show me a pathway out. Well, saying that prayer, about two days later, I met this really fun white chick. She was like a dancer at one of the high-end strip clubs. She wanted some rock. I said, no problem. I went with her to a hotel, the kind of server. Well, she set me up and I ended up getting arrested by an undercover officer. So my way out was actually me getting arrested."
},
{
"end_time": 1500.401,
"index": 62,
"start_time": 1485.401,
"text": " So I get arrested and I always said if I got arrested I would stop doing this and I would never do it again. I would never sell drugs again if I got arrested. Well, I got arrested, bonded out, I had a sale case at this point and I didn't go by my own"
},
{
"end_time": 1530.538,
"index": 63,
"start_time": 1501.032,
"text": " Model like literally two days later three days. I need money because I spent the money on my money to get out I went back. It's right back to the same spot Started selling again and sure enough sold to an undercover officer again mind you I'd gone like three years with no problem Suddenly, I'm something on the court another case when I caught another case BAM bonds out by two cell cases. I never had a record. Yeah, I'm thinking. Oh god. This is This is this is bad. This isn't good"
},
{
"end_time": 1558.012,
"index": 64,
"start_time": 1531.288,
"text": " But while they went to a club one night, met a fantastic lady, beautiful woman. She was angelic. She's like an angel. She's a nurse. Lisa, if you ever see this, I'm sorry about the way things worked out. I should have made better decisions going forward. I really mean that. And she took me home to her house and I moved, literally moved me in. And when I moved in, I said, I'm going to sit here. I'm going to get sober."
},
{
"end_time": 1579.241,
"index": 65,
"start_time": 1559.002,
"text": " I'm going to take this time to really re-evaluate the life I've been living. And I'm going to stop smoking. I smoke two packs of cigarettes. I'm just going to get myself there. Well, I sat there and sat there and sat there. Started getting myself together. Got a job doing gas deregulation. Back then, I used to do gas deregulation. We knocked on doors."
},
{
"end_time": 1598.746,
"index": 66,
"start_time": 1579.531,
"text": " where the monopoly of gas companies are being broken up. And you got these independent vendors that would give you the gas resellers. I would give you the gas. So I was knocking on doors and things of that nature. But the thing is, is that as I'm doing this, I'm really drying out and sobering up."
},
{
"end_time": 1625.998,
"index": 67,
"start_time": 1599.974,
"text": " I was at Lisa's house when I and like maybe my second month to really get myself in my job make like $200 a week again. And I love it. I'm making 200 bucks a week, but I'm sober. I'm getting together. I'm getting I'm really like, the drug shit is going behind me. I'm really like evolving moving on. So as I'm doing this, a friend of mine from New York, he calls me one day, I'm at Lisa's house. He says, a man, I gotta leave town. The cops are looking for me."
},
{
"end_time": 1654.77,
"index": 68,
"start_time": 1626.34,
"text": " I'm thinking, good luck, get the fuck out of here, right? Goodbye, right? So when he tells me the cops looking for me could not make this up, he has like this black, beautiful, synthetic Gator briefcase. It wasn't real, but it looked real. You know what I mean? Some real, but the Gator briefcase and he has the locks on it, the whole thing. And he says, listen, I got in this, he says just like this, I could not make them in his briefcase is something that's going to make you rich."
},
{
"end_time": 1683.558,
"index": 69,
"start_time": 1655.811,
"text": " I said something's gonna make me rich. Mind you, I'm sobering up $20 a week. I said, what's gonna make me rich? He says, in this briefcase is a Carlton Sheets brochure. This is the 90s. In the early 90s, Carlton Sheets was like, he was like the motherfucking wizard of real estate money, right? This is pre-internet, right? So he says, in this briefcase is Carlton Sheets"
},
{
"end_time": 1697.21,
"index": 70,
"start_time": 1683.933,
"text": " And he says, once you forgot how to unlock this, because it's locked, right? He says, once you forgot how to unlock this, you're going to go in here and this program is going to make you rich. So I said, sure, man, no problem at all."
},
{
"end_time": 1717.551,
"index": 71,
"start_time": 1697.773,
"text": " I said he's a good luck ticket. He put that briefcase at the towards the end of my girlfriend's bed. I never got it was kind of like the wall where you know, you can sit in the bed. It's like against the wall. I gave him that said good luck, bro. He leaves town and that briefcase is there and I'm working knocking on doors looking at the briefcase busting my ass. And then one day I looked at that briefcase Matt."
},
{
"end_time": 1741.971,
"index": 72,
"start_time": 1718.285,
"text": " For about literally for about a month and a half that briefcase looked at me. I did that briefcase. I was not going to remember. I still had My dad and an apartment so I was renting out that real estate exposure, but I didn't know shit about real estate. I was running apartments. I watched my dad go miss miss miss and and really do his closes, but I didn't know shit about real estate. So"
},
{
"end_time": 1767.295,
"index": 73,
"start_time": 1742.466,
"text": " One day I just said, something just said, open the briefcase. I just felt compelled. I had no thought, no nothing open. And I remember taking the hatchet because the locks just snap on locks. I had to pry it open, pry it open. And I opened it, sure enough, there it was, 12 CDs and booklets. And I read the booklets, I just seen about five of the CDs, and I realized,"
},
{
"end_time": 1796.442,
"index": 74,
"start_time": 1768.353,
"text": " Carlton cheese program was total bullshit, gave me no information, no nothing. It was total bullshit. This was no secret formula. There was no miracle information. It was total. It was a griff. It was total bullshit that was in there. So, but I did read one small paragraph, one little paragraph that resonated and stood out to me."
},
{
"end_time": 1826.92,
"index": 75,
"start_time": 1797.278,
"text": " What was that? Flipping contracts. Oh, yeah. So he gave he gave a real brush over because you know, of course, he's didn't know shit anyway. He was a hustler, right? So he just simply said flipping card. I'm going to paraphrase for you broke motherfuckers flipping who have bad credit and don't got shit going on. You go out there and get a contract and put a house under contract. You didn't even give the details, right? Basically, you can put out something contract. You sell the contract for a profit. And that's that's what it was."
},
{
"end_time": 1850.145,
"index": 76,
"start_time": 1827.381,
"text": " Bird-dogging. Bird-dogging. So I called my dad up and I said, Dad, just flipping contracts. He said, listen, he said, you just simply get a property under contract. I called him up in Brooklyn to get a property under contract, put it under below market, and then you'd mark the contract up and sell it to who? Get the contract from who? What is the contract? How's the contract?"
},
{
"end_time": 1872.432,
"index": 77,
"start_time": 1850.742,
"text": " My dad said, listen, I can't answer all these questions. My dad was a broker. He wasn't flipping a whole lot of contracts. He did flip contracts, though. But he said that he just didn't want, you know, it's just kind of me going on and on. He just said, listen, if you get something, call me and we'll take it from there. I said, all right. Well, I went back out that day. And of course, I was doing gas and gas."
},
{
"end_time": 1882.483,
"index": 78,
"start_time": 1875.435,
"text": " I'm already doing the hardest part."
},
{
"end_time": 1907.278,
"index": 79,
"start_time": 1883.439,
"text": " I'm already doing the hospital, but it really did get much harder. It really got fucking harder. So I'm knocking on doors, knocking on doors, knocking on doors. I say, hey, gas deregulation, would you like to sign up? Because I got $10 for each one of these gas forms. So I was getting my $10 from the gas. And I would also say, by knocking on doors for gas, handing a piece of paper for gas deregulation, I would also say to them, I'm also roasting."
},
{
"end_time": 1925.538,
"index": 80,
"start_time": 1908.234,
"text": " Real estate investor. I'm also real estate investor and I buy properties, right? And if you ever have you want to sell your properties, please be sure to give me a call like the guy knocking on doors for $10 gas forms. I'm also a real estate investor. Let me"
},
{
"end_time": 1953.933,
"index": 81,
"start_time": 1925.538,
"text": " Let me knock on your door for gas deregulation, right? But I also buy real estate, like I buy real estate in the land, I buy real estate all over the land, and the people are going, okay, all right, okay, we'll call you if you want to sell our house. And I just kept saying this, right? No clue at all, right? Didn't know how a real estate transaction took place. So I'm telling you this, right? So I kept doing this for like two, three weeks, knocking doors,"
},
{
"end_time": 1979.104,
"index": 82,
"start_time": 1954.172,
"text": " And then one evening, I get a call. I'm like 27 years old doing all this shit, right? I get a call, phone rings, really just after like work, I'm back at my girlfriend's like, no call, my girlfriend have to come pick me up, literally and bring me back home. Like I'm broke, broke."
},
{
"end_time": 2006.732,
"index": 83,
"start_time": 1982.295,
"text": " Looking at me like, where did you get this fucking bum from?"
},
{
"end_time": 2035.862,
"index": 84,
"start_time": 2006.732,
"text": " She says, I'm back one day after work and I'm there and I get a phone call phone rings. I have this little like cell phone that I would use."
},
{
"end_time": 2065.998,
"index": 85,
"start_time": 2036.152,
"text": " Hello. Hi, Mr. Dawson. This is Mr. Tyson. You called, you knocked on my grandmother's door by buying a house? I'm like, oh shit. So I was like, somebody's really calling about this shit. I said, oh yeah, absolutely. Do you buy houses, Mr. Dawson? I sure do. Well, my grandmother has a house."
},
{
"end_time": 2096.101,
"index": 86,
"start_time": 2066.561,
"text": " Over here and I'd like to see if you want to buy I said sure when you want me to come see it come on down right now So I'll be right I said be right over so I hung up the phone I call I told my girl for us. Listen, you got to drive me downtown There's a guy who actually called me about buying a house She said you don't have anybody to buy a house. She's like, you know, I mean, she's what are you talking about? I'm like the guy wants to something else what house she said he said he had a house I just need to go see it"
},
{
"end_time": 2105.589,
"index": 87,
"start_time": 2096.834,
"text": " She says, I'll take you there. I mean, she said, do you know anything? Do you know how much this is worth? I said, I don't know. Let's just go see the guy. So I go, I go to see the guy. I had this one yellow."
},
{
"end_time": 2135.247,
"index": 88,
"start_time": 2105.964,
"text": " Tommy Hillfinger shirt that I would wear. This was like when I wanted to knock him dead shirt, right? I like three shirts, but the yellow Tommy Hillfinger shirt. That was the one right? I put that yellow Tommy Hillfinger shirt on, ironed it up real quick, threw it on my jeans, my favorite Tim boots back then. And I jumped in the car with her. And sure enough, we drive down in the Grand Park, there's a section in which was really this was like one of the early gentrifying areas of Atlanta. And we come up and we pull up and he's sitting there."
},
{
"end_time": 2153.626,
"index": 89,
"start_time": 2136.049,
"text": " And I'm pulling up."
},
{
"end_time": 2183.473,
"index": 90,
"start_time": 2153.985,
"text": " Cause I'm from Brooklyn, you know, I had never seen a black cowboy before. You know what I'm saying? He was like a black cowboy. First of all, I had to get over that whole fascination on it. He was like dark, like me cowboy and shit. He's a little old. He's like 44 at the time. And he says, he goes, he says, hi, Mr. Darcy. I'm Mr. Tyson. I looked, I said, I said, Hey, Mr. Tyson, how are you? I said, is this the house? He says, yeah, this is the house. This is my grandmother's house. And, um, how much you give me for it?"
},
{
"end_time": 2212.619,
"index": 91,
"start_time": 2184.053,
"text": " And I looked at the house, I tried to look professional, I tried to posture, I tried to give some movement, I looked at my girlfriend. I said, tell you what, Mr. Tyson, let me run some numbers. Because I heard him say that before. Let me run some numbers. Let me run some numbers. And I'm going to come back. And I'm going to I'll let you know, he says,"
},
{
"end_time": 2223.626,
"index": 92,
"start_time": 2212.944,
"text": " When are you going to get back to me? I said tomorrow at 11 a.m. He looks at me and he says to me, are you sure you're a real estate investor?"
},
{
"end_time": 2254.616,
"index": 93,
"start_time": 2224.633,
"text": " I just saw it through my whole veil. And I said, yeah, I sure am. I absolutely am. Jump in my girlfriend's car. I'm thinking, where am I going to get her? How will I sell this house? How am I going to buy this house? As I'm saying this, as I'm driving with her, I'm driving through, I look up and there's a sign that says, we buy houses. Back then, they were everywhere. The yellow sign. We buy houses. I see another one that says, we buy houses. Dishes are everywhere. We buy houses. I'm saying, well, these guys obviously know what to do."
},
{
"end_time": 2279.104,
"index": 94,
"start_time": 2254.906,
"text": " So I start calling them. Hey, this is DJ. I'm a real estate investor. I've got a house for sale. I call another one. Hey, this is DJ. I'm a real estate investor. Finally, I said, listen, I'll bring the deal to you. You can see the deal. There's one guy, Tom answers. Finally, I call the guy. Tom says, I said, hey, I'm DJ. I'm a real estate investor. I have a house for sale. He says, oh, do you really? I said, yeah. He says, when can I come see it? I said, well,"
},
{
"end_time": 2309.258,
"index": 95,
"start_time": 2279.582,
"text": " I could take because we were still downtime. My girlfriend's car went to maximize use our car. I said, can you come now? He says, yeah, I'll come now. This guy Tom shows up. Clean cut. He looked like a doctor. He had like some kind of clasping on. Tall white guy, you know, the white guy thing worked for me, right? Tall white guy and shit, right? And he came through real clean cut and he says, well, let's go see the house. I said, no problem. I'll take him by show him the house. He absolutely loves it. And as he absolutely loves the house,"
},
{
"end_time": 2335.589,
"index": 96,
"start_time": 2310.06,
"text": " I said, well, we're going to meet Mr. Tyson tomorrow at about 10, 11 o'clock. Why don't you come on down and look at Dallas? He said, sure, no problem. So the next day he comes down, just like he said he's going to meet me. He meets me because Tom said he had the money. So when he has the money, he comes on back. When he comes back, we go to Tyson, said, Mr. Tyson, this is my colleague, Tom. Tom is going to be putting up the money."
},
{
"end_time": 2365.913,
"index": 97,
"start_time": 2335.947,
"text": " For us to do this transaction, Tyson looks at me and says, oh, okay. He says, nice to meet you, Tom. Tom goes, nice to meet you, Tyson. And they kind of both look at, so I kind of felt the energy. Like they kind of look, Tom looked at him. He kind of looked at Tom and something about me kind of felt like the odd man out. I couldn't quite put my finger on it, but, but this is where it got interesting. They said, he says, well, how much you want to give me for the house? Tom says, I'll give you $40,000."
},
{
"end_time": 2391.391,
"index": 98,
"start_time": 2366.408,
"text": " This is back in the early 90s. Had you already worked out a deal with him that, hey, whatever you're offering, tag 10 grand onto it for me? Not at all, because I trusted them. Well, he doesn't know he offered. Where did you think the extra money was going to come from? If he said 40, there's no extra money for you. Tyson wants 40. He's giving 40. And for you to say, great, I need you to give me five, he's going to be like, well, you should have told me that."
},
{
"end_time": 2420.043,
"index": 99,
"start_time": 2392.517,
"text": " But we have to remember something very important. You don't know anything. I didn't know what the fuck I was doing, right? I had no fucking clue about the fuck I was doing. Call my dad. I'm in the middle of a deal. How hard could this be, right? Right, right, right, right, right. The mindset, right? So I said to him, all right, so Tyson said, so he says to Tyson, Tyson says, give me 44,000. I said to, because Tom said 40, he says, give me 44,000."
},
{
"end_time": 2448.302,
"index": 100,
"start_time": 2420.947,
"text": " And they go, Tom goes, you got a deal. Tyson goes, great, great. No problem at all. And they look at me and they say, Mr. Darcy, do you want to do a contract? I said, no, I trust you guys. Why don't you do a contract? Oh, you really don't know what you're going to know. Nothing, nothing at all. Green beyond green. So I trust you guys. Why would I need a contract?"
},
{
"end_time": 2479.206,
"index": 101,
"start_time": 2449.462,
"text": " Matt, they both looked at each other. They looked at me. They looked at each other and that one connection they made was this guy could not pass. I felt the energy. I mean, it was palpable. I mean, you could you could taste it when they gave each other that look. I didn't know what the look was, but I felt the look. You know what I mean? And I couldn't put it together. So they both looked at each other. They said, all right, no problem. They look right calm. He said, all right, no problem. So sure enough,"
},
{
"end_time": 2498.251,
"index": 102,
"start_time": 2479.957,
"text": " We leave and then we leave and then we go. And I said, how long will it take you to close? Tom said, I'll close it in seven days. No problem. No problem. They said, Mr. Dawson, Tyson, Mr. Dawson, I'm going to call you once it closed. By the way, how much do you want off the deal? I said, Mr. Tyson,"
},
{
"end_time": 2521.271,
"index": 103,
"start_time": 2499.036,
"text": " Give me $12,000. It was just a number I had. Listen, I felt $12,000 was the number I had. I dreamed at this point in my life of having $12,000 at one significant time, at one point. Tyson looked at me. He said, same look again. No problem, Mr. Donson. No problem."
},
{
"end_time": 2548.951,
"index": 104,
"start_time": 2522.022,
"text": " Thanks. I walked away. I looked at Lisa. I said, Lisa, we're going to be rich. We're going to get this thing going. We're going to be loaded. $12,000. I'm thinking, oh, I'm going to show this whole motherfucker. I'm going to get myself a car. I had the whole thing going, right? So we leave. I think it goes with seven days. Seven days goes by. 10 days goes by. I start calling Tyson. No answer."
},
{
"end_time": 2573.012,
"index": 105,
"start_time": 2549.855,
"text": " About 15 days goes by, I called Tom up. I said, Tom, I haven't heard from anyone. What's going on? I haven't heard a thing. What happened? He says, Tyson didn't call you. I said, no, Tyson didn't call you. He says, let me call you right back. I said, all right. Calling back after that, a couple hours later, no answer."
},
{
"end_time": 2584.974,
"index": 106,
"start_time": 2574.121,
"text": " Then 20 days go by and I'm sitting, I'm like, what the hell, what I'm talking to Lisa, I'm talking about cuz I'm like, I have a deal going with these guys, had something happening, what the hell is happening? So as this is going on,"
},
{
"end_time": 2611.596,
"index": 107,
"start_time": 2585.845,
"text": " I started hanging around real estate meetings, real estate associations. I met this lady named Lucille in the interim of me waiting to get disclosing that. This lady Lucille was about 70 years old. She was killing it in the real estate business. She was doing cash outs, which I'll get into what those were later on, but she was doing cash outs, absolutely killing it. So in her cash outs, she's making a hundred thousand here, a hundred and fifty thousand here. You know, when you increase the price up, create the equity, that was huge back then. You know what I mean? Stated loans, she was killing that whole shit, right?"
},
{
"end_time": 2640.555,
"index": 108,
"start_time": 2612.261,
"text": " She's making $100 kind of took me under her wing over this period of time because I took an injury. So and then how old was she? She was like 70. She was 70. And she was sharp. So she looked like she I swear she looked about 40. Okay, right. And, and at one point, I could find myself went to lunch, and she brought me down to lunch. She said, let me buy you lunch. She just liked me, you know, she was kind of mentoring a little bit. I sat there. And I said to a loose we're sitting at this coffee shop. And I said, Lucille,"
},
{
"end_time": 2666.34,
"index": 109,
"start_time": 2642.261,
"text": " I did a deal says you did a deal. She says, Yeah, I said, I said, would you? She says, Oh, would you do the deal that she sipping a tea? I said, Grand Park in the middle of you did a deal with Grandpa. I said, Yeah, I said, she said, she said, how much? How much did you sell the deal for?"
},
{
"end_time": 2694.258,
"index": 110,
"start_time": 2667.415,
"text": " I said, well, we sold it for $44,000. They're going to give me $12,000. She says, how did you do a deal in Grant Park for $44,000? I said, that's the price. I got it for $40,000. She said, houses in Grant Park, the after-repair value are like $350,000. She says, that's the after-repair value on those properties. She said, did it need work? I said, yeah, it needed work. She says, was it a big house? I said, yeah, it was big."
},
{
"end_time": 2719.036,
"index": 111,
"start_time": 2694.684,
"text": " She says, how do you even get it that low? And she said, how do you even suffer? She says, let me see your contract. I said, I don't have a contract. So you have no contract. She says, how did you do a deal without a contract? I said, Oh, well, Mr. Tyson, and Mr. Tom, I trusted them, and they're going to set me up with the deal. And they're going to do it. She says, you're crazy."
},
{
"end_time": 2748.131,
"index": 112,
"start_time": 2719.548,
"text": " She says, first of all, a deal like that, we could have made, you could have made 50, 60,000 easy on that deal. I'm like, what? Those are numbers I hadn't even heard of. She says, oh, no, you got to call them back. I said, I've been calling. No one answered. I ran back. She said, go back. Fine. I go back. I call. Now we're into the 25th day. Now we're into the 30th. Now I'm calling this guy 10 times a day. I'm like, what the hell have I done? I'm calling, calling. Finally, on like the 35th day, after calling, phone me."
},
{
"end_time": 2776.903,
"index": 113,
"start_time": 2748.643,
"text": " Hello, Mr. Tyson. This is Darcy. I've been trying to reach you. I haven't heard from you. I haven't heard from you about the deal. I need to talk to you about the... Mr. Darcy, you call me more than my bitch. Excuse me, Mr. Tyson. You call me more than my bitch, Mr. Darcy. Now, Mr. Darcy, let me be honest with you and let me be frank with you. You're not getting $12,000, Mr. Darcy. I'm not. No, Mr. Darcy."
},
{
"end_time": 2804.889,
"index": 114,
"start_time": 2777.381,
"text": " But what I am going to do for you, Mr. Darcy, I'm going to give you $3,000. So, man, $3,000 might as well have been 300 grand to me at the time. Right. So, literally, I'm not bullshitting you. $3,000 is like 300 grand. That's change your life. It's a life changing money, right? Three grand, right? So he says, he says, Mr. Darcy, I'm leaving town in about an hour."
},
{
"end_time": 2825.435,
"index": 115,
"start_time": 2806.118,
"text": " You need to meet me down at the Wachovia Bank on Lee Street. I'm going, this deal is already closed and I'm going to give you $3,000. If you are two minutes late, Mr. Dawson, you're getting nothing and I'm going back to Alabama."
},
{
"end_time": 2837.722,
"index": 116,
"start_time": 2826.254,
"text": " No problem, Mr. Tyson, I'll be right there."
},
{
"end_time": 2867.875,
"index": 117,
"start_time": 2838.183,
"text": " I said, I'm going to pick you up. I want you to come with me. I'll run down, pick her up real quick. We're going down to meet him at the Wachovia. As we pull up to the Wachovia, I'll never forget this. Mr. Tyson has the pickup truck, the back of his pulled into the Wachovia parking lot in front of the bank packed with boxes."
},
{
"end_time": 2880.401,
"index": 118,
"start_time": 2868.439,
"text": " There was a pit bull in a crate, within the boxes, packed up also, right? And he's standing there on the back of the pickup, like kind of leaned on it. A brand new, beautiful cowboy hat."
},
{
"end_time": 2904.701,
"index": 119,
"start_time": 2880.913,
"text": " He has a brand new cowboy book with this huge silver buckle looking like motherfucking Numa and beautiful cowboy boots. He sees me pulling up and he kind of leans on that truck with the hat and he looks at me and he goes, I pull up again. I said, hello, Mr. Tyson. How are you? He said, Mr. Darcy, I was just about to leave. I said, this Tyson."
},
{
"end_time": 2933.677,
"index": 120,
"start_time": 2905.384,
"text": " Pulls it out. He says, here's your $3,000 cashier's check. I got it just for you. I said, thank you. Mr. Dawson took me a lot of gas and time to get down here. I require $100 of this $3,000. I said, how am I supposed to give you? I have no money, Mr. Tyson. No problem. Let's go inside and cash it. I said, okay, Mr. Tyson. We're walking in. He's got the $3,000 check. We give it to the cashier."
},
{
"end_time": 2963.404,
"index": 121,
"start_time": 2934.155,
"text": " He's standing next to me, standing next to me in the little cage back then. This is before the bulletproof little cage. And she gives the check, and she gives the check. We're both standing looking at the cage, and the cashier is counting. She's counting one, two, and I'm watching each one. I can't believe the flow of these hundreds just hitting and hitting. And these hundreds are coming through, these hundreds. And they're coming through, coming through, and then when they get to the last one for the third $3,200, $3,000, and he takes it. That one is mine! He takes it. It's $100."
},
{
"end_time": 2993.319,
"index": 122,
"start_time": 2964.121,
"text": " And I grabbed the $2,900 in my fist and we're walking out the door to Wachovia. He's walking, but I'm like, Oh, I got to get the fuck away from this motherfucker. But I got the $2,900 we're walking through. He's behind me as we walked through at the door. My car is over here. My girlfriend's car, Lee, uh, Lucille sitting in it. He's going to create a truck with the dog and the pickup and all that shit in there. He's going his way. And as we're moving away separate, I'm walking to that truck. I'm like, Oh God, I got to get the hell out of here. And he's going to his car. I hear him say one more time, Mr. Darcy."
},
{
"end_time": 3005.111,
"index": 123,
"start_time": 2995.657,
"text": " I turn around and say, yeah, Mr. Dyson. One more thing, Mr. Dyson. What is it, Mr. Dyson? Welcome to the real estate business."
},
{
"end_time": 3029.753,
"index": 124,
"start_time": 3006.032,
"text": " I said, thank you, Mr. Dyson. True story. And that is my first deal I ever did getting into the real estate business. It was the deal from hell. Now, you got the three grand. I got $2,900. I didn't get three grand. I got $2,900. Now, hence, let me just fast forward this. Of course, would y'all get into all that?"
},
{
"end_time": 3049.343,
"index": 125,
"start_time": 3030.179,
"text": " My shit took off, right? I eat, slip, breathe, sleep in contracts, right? I marketed the whole fucking city, signs everywhere. Darcy Richards, property specialist, property specialist, we buy houses. I fucking put thousands of signs through that motherfucker. I made myself famous in that city. Two years, two years later,"
},
{
"end_time": 3079.258,
"index": 126,
"start_time": 3050.06,
"text": " You got arrested twice for selling rock. Did you get probation? Did you get thrown out?"
},
{
"end_time": 3095.674,
"index": 127,
"start_time": 3079.889,
"text": " So just not go back to court. No, no, no. So in that part of it as I went through that two years of building the business up. Yeah, I build up the entire business along that time and because I started buying properties up and down."
},
{
"end_time": 3125.657,
"index": 128,
"start_time": 3095.981,
"text": " The city, I literally started marketing like a maniac. I started doing deal after deal, flipping contract after contract, flipping the contract machine. By this time, flipping contracts, I'm probably making some way, I'm probably doing a deal a week, right? Within the first 12 months, I'm probably, 12, first year and a half, I'm doing about a deal a week. So I'm making anywhere from three to $10,000 a week by then. So as I'm flipping contracts, now I'm knocking on doors, doing the calls, I'm a big one at telemarketing. Through the process, I meet a district attorney, an assistant district attorney."
},
{
"end_time": 3152.944,
"index": 129,
"start_time": 3126.203,
"text": " And her, uh, beat this as a district attorney and she not became friends. We weren't kicking anything like that. We were just friends. I supposed to do a deal on her house. Let me back up. And along the time with her, I had done a deal with the judge as well too. I flipped her properties well also. So I'm making myself a real name in the community. Hence the district assistant, the assistant district attorney I became friends with at one point I could find it. And I said, listen, I know you work downtown."
},
{
"end_time": 3183.268,
"index": 130,
"start_time": 3153.968,
"text": " Here's what I was doing prior in my former life. I was selling rock on the corner. I changed my life around by changing my life around. I got into real estate. She couldn't even see it. She said, how long ago was this? I was like, this is like a year and a half. She says, you've been flipping. I've been watching you flip houses left and right. How the hell are you in a year and a half going? So I said, well, all I've done is just focused on this day and night, night and day. Well, when the time came for me to go to court, I ended up going down to court. They went and spoke to the judge."
},
{
"end_time": 3200.503,
"index": 131,
"start_time": 3184.667,
"text": " So she went and spoke to the judge, the judge that I flipped her project went and spoke to the judge. And well, they spoke to the prosecutor, the prosecutor spoke to the judge. Let me flip it that way. Right. They actually spoke to the prosecutor. So I'm in front of the judge. This is about a year and a half, two years later."
},
{
"end_time": 3227.483,
"index": 132,
"start_time": 3201.152,
"text": " He said, Mr. Richard, I've heard about what you've been doing. I've heard about the remarkable way you've changed your life around such a short period of time. People down here seem to know who you are. It was really two people, but it just kind of had that kind of ubiquitous feel, you know? And he says, listen, this is what I'm going to do for you. I'm going to give you for two cell cases, a first offenders. He says, this is going to be in your record for a year."
},
{
"end_time": 3247.91,
"index": 133,
"start_time": 3228.131,
"text": " After that year, we're going to totally cut it off expunged expunged nice. But if you get any other trouble, I'm going to give you 40 years. That's what he told me. And that's what happened. So you went the whole year. You're good. Yeah, I had no problem. Yeah, my problems came later on but but"
},
{
"end_time": 3268.234,
"index": 134,
"start_time": 3248.968,
"text": " That's what I was doing. I was flipping those contracts day in day out day in day out and the business just took off. So some flipping contracts. Okay. So real quick for the purposes of people watching flipping contracts is he's going out and he's convincing a homeowner who's selling their house to sell him their house for $50,000."
},
{
"end_time": 3297.722,
"index": 135,
"start_time": 3268.507,
"text": " He doesn't have $50,000. He's not buying it for $50,000. He's been turning around and going to an investor that's going to sell that house. He goes and says, look, I got a contract in this house for 50 grand. I'll give it to you for 65. Guy goes out. He looks at the house as I'll give you 60. He says, okay, no problem. But then the day of the closing, sometimes, sometimes it's just an assignment fee. But sometimes it's called a simultaneous closing. Same thing. Same thing. Well, an assignment would be different. Sometimes you can just sign the contract. So what happens is,"
},
{
"end_time": 3325.606,
"index": 136,
"start_time": 3297.722,
"text": " That guy buys a house for 60. He gives he gives Dawsey $10,000, right? So sometimes you're just assigning it and at closing you get a check. Sometimes you'll close first on your $50,000 sale. So you're closing at 50 and then he comes in and buys it immediately from you for 60. Usually they buy it for 60 before you've even bought it for 50 because it's the same. Absolutely. You know, that's hard if there's a mortgage company involved. But anyway, that's what he's doing, but he's doing it."
},
{
"end_time": 3350.623,
"index": 137,
"start_time": 3326.169,
"text": " There are guys that make fucking hundreds of thousands of dollars and you don't need a license. I'm just saying the average guy like if you're just the guy buying and selling buying some of these guys that that's all they do is knock on and that's not that and that that's hard. It's grueling work. It just pay. So if you have a talent for knocking out that kind of grueling work, you can really take off with it. If you can take the rejection and not let it basically make you want to"
},
{
"end_time": 3359.718,
"index": 138,
"start_time": 3351.169,
"text": " Off yourself, you know what I'm saying? Like you got to be able to knock on the door and have him say, no, I'm not interested and be like, okay, thank you very much. Here's my card. If you change your mind and go to the next one, go to the next one, go next one."
},
{
"end_time": 3384.002,
"index": 139,
"start_time": 3360.111,
"text": " Because you only need one to hit, one hits and boom, 10 grand, 20 grand. Yeah, and it's a numbers game. Yeah, because the idea is you're making offer after offer after offer after offer after offer. It is brutal. It's intense and it's brutal. Forget about having a social life. But when you're looking to come up and make some money and you're broke, like I was broke. Are you kidding me? You could have told me work. I was probably working anywhere from 12 to 15 hours a day. Do you go for $200 a week?"
},
{
"end_time": 3410.418,
"index": 140,
"start_time": 3384.599,
"text": " I was making $10,000. Put it this way, by that second year when I was in court, I bought a brand new S500 back then, S500 Mercedes that ran me like 90 grand and put like seven $10,000 rooms on it. I had houses that was renovated. I mean, you know the whole story. The idea was that, again, the beautiful part about flipping the contracts was that I didn't own anything. I had nothing in it. I just needed the numbers to work."
},
{
"end_time": 3435.503,
"index": 141,
"start_time": 3410.418,
"text": " Yeah, I met and negotiating and negotiating as they're getting as much equity as I could in the deal through Negotiating that price down allowed me to flip them quicker and faster and I had a knack for it And the idea was I would just call and call and call and call and call. Hello Hey, this is DJ property specialist just going to let you know in the Atlanta area making a number of cash offers on properties We understand you're the owner of two two two challenge Street. We'd like to let you know we'd like to give you a call tomorrow with a cash offer hopefully"
},
{
"end_time": 3450.811,
"index": 142,
"start_time": 3435.725,
"text": " One, you may be interested in entertaining. I understand it's a three bedroom, correct? And that was the pitch over and over and over and over again, and just starting negotiating deals. So it took off. I made a ton of money. Suddenly I was getting"
},
{
"end_time": 3471.92,
"index": 143,
"start_time": 3451.834,
"text": " You know just just a lot of recognition people love the fact that the deals I was doing I was meeting other people in the community my social services. So by this time it had to have been I started 99. This is me in 2001. Okay, so I thought I was just at the pinnacle."
},
{
"end_time": 3492.978,
"index": 144,
"start_time": 3472.346,
"text": " I just thought I was at the Pentagon because I was making like $10,000 a week. What's your dad saying? Is your dad like super? Oh, everybody's proud. Everybody thinks I'm doing great. And flipping contracts is perfectly legal. So again, it was just a miraculous story. You know, the women, you know, fortunately, I left the girlfriend, you know, and"
},
{
"end_time": 3520.981,
"index": 145,
"start_time": 3493.336,
"text": " Uh, moving to my house, uh, in West End section. We worked out of there. I started recruiting people, started building teams, started building. By the way, I ran into Mr. Tyson again later on when I was successful. And, um, yeah, that was crazy. One day, like I told you, I had done that $90,000 deal. I'll never forget that one was a deal. I made $9,000 because the deal had gotten bigger because we started doing cash outs and things of that nature, which I'll get into that. But I was, uh,"
},
{
"end_time": 3550.418,
"index": 146,
"start_time": 3521.459,
"text": " I called it right said there was a there's a restaurant with everybody to eat. I can't remember the name of it. I think it was like chanterelles or something like that. I said just meet me down there. I said come on down. It's like two years later. So as we're coming through I come out to close in. I'm taking everybody to lunch. You know the lunch closing when you do the closing to get around lunch right and I'm pulling in I got a Mercedes not pulling as I come but you gotta remember my name is all over the city on those on those signs. It's like a billboard. Those sounds like free billboards. They're like everywhere across the city."
},
{
"end_time": 3572.056,
"index": 147,
"start_time": 3550.418,
"text": " So everyone knows who I am by the name, right? So as I come in that store, as I'm coming in the restroom, my friends are there, I'm walking in the door, I park the car, I'm waving at them through the glass, they're like waving back, the little team. As I walk through the door, I go, I'm like, hey, I'm walking right here. Oh my God, stop the presses, Mr. Darcy."
},
{
"end_time": 3600.384,
"index": 148,
"start_time": 3572.329,
"text": " Listen, as I stopped the hears on my back, stood on my back, I turned around and looked and that black cowboy had stood up. Mr. Darcy, everybody, everybody, this is a millionaire, a millionaire, Mr. Darcy. He says, Mr. Darcy, he says, I've been hearing about you seeing your signs all over the place. Look at you, Mr. Darcy."
},
{
"end_time": 3609.07,
"index": 149,
"start_time": 3600.828,
"text": " New hat, new shoes, new clothes. Look at that car. He says Mr. Darcy."
},
{
"end_time": 3634.974,
"index": 150,
"start_time": 3610.043,
"text": " You should give me some money because it's because of me. Why you got where you are? Look, I say you are absolutely right. Mr. Tyson. Yeah, I'm thinking myself. Fuck off. But I think nothing. You're absolutely right. Mr. Tyson. You're absolutely right. Good to see you, Mr. Tyson. He said, Mr. Dawson, we need to stay in touch with no, thanks, Mr. Tyson. Enjoy your lunch. And I would have said that I did have that running from him. So"
},
{
"end_time": 3661.254,
"index": 151,
"start_time": 3636.374,
"text": " I was flipping contracts and I was killing it. Flipping contracts. I started doing, you know, I just always made money at flipping contracts. Then I started doing what I call cash outs and that's where things got, that's weird. Questionable. To say the least. So I don't know if your audience knows about cash outs. So, and I guess to explain, you want me to explain?"
},
{
"end_time": 3675.93,
"index": 152,
"start_time": 3661.681,
"text": " During the height of the real estate loose lending, it was a practice that real estate investors had where you would increase the price of the property"
},
{
"end_time": 3703.148,
"index": 153,
"start_time": 3676.442,
"text": " Right. You'd increase the price of that property, and by increasing the price of the property, let's say the property was worth, hypothetically, as is $100,000, appraisers would turn around and actually appraise it at $200,000. When the seller only wanted $100,000, by doing that, it allowed you to pull out $100,000 in equity and increased value and put it back in your pocket while"
},
{
"end_time": 3723.2,
"index": 154,
"start_time": 3703.148,
"text": " The seller took their $100,000. So the property is really selling for $200,000 or really selling for $100,000. You just got the value appraised at $200,000. You pulled out the $100,000 by pulling out the extra $100,000 in equity. They got $100,000, which was their base sell price, and then you took out the other $100,000. To many people, the novice,"
},
{
"end_time": 3740.06,
"index": 155,
"start_time": 3724.241,
"text": " They say, oh, what's wrong with that? Well, that's mortgage fraud. Yeah. Yeah. And the problem with the mortgage fraud in that is that that's not the actual value of the property. Then of course, you know, there was all the paperwork being done to support that as well, too, which just kind of adds to the"
},
{
"end_time": 3757.995,
"index": 156,
"start_time": 3740.503,
"text": " What's so funny is that because typically a seller has no clue what's happening when you go in and say 200, I would go in and I'd give them the contract for 200 Rand."
},
{
"end_time": 3786.186,
"index": 157,
"start_time": 3758.609,
"text": " And they go, it's 200 grand. I know, but we're going to be doing renovations. And because it's a construction to permanent loan, which it's not, I'd say we're going to cut $100,000 to the construction company. And I actually had a construction company. So we'd go to close. I'd get the loan from the bank for the 200,000, go to the closing. We'd close. You get your 100 grand. The other 100 grand would be cut to a construction company. There would be a provided invoice."
},
{
"end_time": 3789.974,
"index": 158,
"start_time": 3786.186,
"text": " And they would get that money and we would provide an appraisal."
},
{
"end_time": 3820.418,
"index": 159,
"start_time": 3790.418,
"text": " To the lender saying that there had already been $100,000 in renovations. So it to everybody involved. It looks legit like the the seller thinks. Oh, this is for the 100,000 for the month. The renovations that are going to be done. The bank thinks that 100,000 is a payback. The contractors who have already done the work and nobody, you know, because one hand doesn't know what the other hand is doing and everybody involved. You'd have this free flowing conversation where it looked a very above board."
},
{
"end_time": 3847.21,
"index": 160,
"start_time": 3820.418,
"text": " The title company knows about it. They're cutting an official check to this corporation. It's big. It was so funny. You'd walk out there like I just committed $100,000 in fraud and everybody's perfectly aware of it. And yet nobody seems to understand that it's it's fraud attorneys were happy with it to attorneys did it all day long as well. The attorneys did it. It was such a common thing. Yeah, illegal illegal. You know, it's like it's like it's like selling rocks."
},
{
"end_time": 3872.568,
"index": 161,
"start_time": 3847.841,
"text": " It happens all the time and it's always illegal. It's always illegal and without a doubt about it. And yeah, and you know, the funny thing about it was that it was so common, but there was just so much money and it was just all around you and well, you know, like becoming bold and every time it goes through, I was just about to say that I was just about to say you become emboldened and really, you know,"
},
{
"end_time": 3883.609,
"index": 162,
"start_time": 3873.285,
"text": " What's funny about is I get more into my story about the real estate business and then I go into the story about the real estate business. It is amazing how you could have a legitimate business."
},
{
"end_time": 3912.807,
"index": 163,
"start_time": 3884.002,
"text": " But it becomes enamored and fraud by going a little bit. Oh, it's like, how do you boil the frog slowly a little bit a little bit a little bit incrementally it really makes you know, your business is just is just you're doing far as a you know, and the thing is with finance and finance runs with fraud finance Wall Street the whole gamut there did so much fraud is based in it that people are doing as a full course of it. Then of course, you know,"
},
{
"end_time": 3937.705,
"index": 164,
"start_time": 3916.476,
"text": " And it was perfectly okay. Like now I you know how sick to my stomach any one of my transactions that I did that I thought nothing about and I was bold walk in argue yell everything whole things brought I'm arguing this no give me this no walk away then walk away. I mean just in bold if I was we're doing one of those transactions to this day."
},
{
"end_time": 3956.63,
"index": 165,
"start_time": 3937.705,
"text": " I'd be puking in the park. I'd be terrified right now. Because you can't do the time. Right. Exactly. Because you can't do the time. You can't do the time. You don't know what it means. Right. You can't write. And once you get the time and you're doing the time, you're like, what the fuck have I done to myself? Right. Absolutely. And that is the that's just a whole nother story."
},
{
"end_time": 3974.036,
"index": 166,
"start_time": 3956.954,
"text": " Yeah, so we started doing cash outs. So when I added the cash outs in my business, I was still flipping contracts, but I was flipping contracts also by way of cash out. My income absolutely took off. That's where the women came in."
},
{
"end_time": 4002.688,
"index": 167,
"start_time": 3974.292,
"text": " The fly apartments came in. That's where my cars went from Benz to a Bentley. That's where the whole thing just started taking off across the board in that respect. So I have a question for you too. The other thing is you're making about 10 grand a week. No, not the cash flipping flipping those contracts, right? So you make it roughly 40,000 a month, right?"
},
{
"end_time": 4031.8,
"index": 168,
"start_time": 4003.473,
"text": " 20 years ago, 20 something years ago, right? That's like half almost that's assuming 40. That's almost half a million dollars. It in here's the thing because I'm only asking you because I've been asked the same thing. So I know my answer. I know your answer is that is that you know, like like what and it was legal. It was legal. I think contracts, you know, why wasn't that enough or did it?"
},
{
"end_time": 4059.104,
"index": 169,
"start_time": 4032.244,
"text": " I'm sorry. What I want to know your answer is you know, I think really happened. I know it sounds crazy. What I want to say to you. I've always been an avid reader. I've always read a lot and I've always read about people doing business hustlers on Wall Street. I could be anywhere from Sandy Wells, Michael Milken. I've just posted about all these people in prison, right? It could be it could be about all, you know, all the players, right? And what happened with me is that"
},
{
"end_time": 4085.913,
"index": 170,
"start_time": 4061.049,
"text": " You start off saying I need $3,000. It's like $300,000. I'm not three grand. That's the deal. I will remember to the day I die. That's the deal at six. But what happens is that you're you're not on Boulevard anymore. That's why you sell drugs at right. You're not on Boulevard anymore with my kids anymore. Now you're hanging out with Kim Porter."
},
{
"end_time": 4111.288,
"index": 171,
"start_time": 4086.527,
"text": " At Houston's on Peachtree Street, you're hanging out with women that have $2,000 boots on and $2,000 purses and hair weaves that cost $400, $500, $600. Your crowd changes. So when your crowd changes your environment. And again, I was reading about people who were making, you know, $10 million a year."
},
{
"end_time": 4134.923,
"index": 172,
"start_time": 4111.715,
"text": " So suddenly, and the more I kept reading it, the more I kept saying, if I can go from here, can I get there? And it's just a competitive, driven, greed-based edge. That's where my mind was. And that's what happens when you get in that environment. Because suddenly, when you're hanging out with someone that makes"
},
{
"end_time": 4158.353,
"index": 173,
"start_time": 4135.862,
"text": " $40,000 a year and you're making $10,000 a week or $40,000 a month and then making $40,000 a year. Oh, you're doing great. The problem is, is that you leave that crowd, you leave that environment and the money allows you go into another crowd and that other crowd. Now you're the poor kid. Now you're a poor kid. $40,000. $40,000 is, uh, um,"
},
{
"end_time": 4187.278,
"index": 174,
"start_time": 4159.002,
"text": " A year is not such a month. Excuse me, a month is not such a big deal. You know, so things, things, things, things really took off. There was a, I'll tell you, when I got into cash outs and I saw the power of cash outs, I'll tell you what happened when I truly, truly, truly, truly, truly, truly, truly saw the power of the cash out."
},
{
"end_time": 4215.469,
"index": 175,
"start_time": 4188.404,
"text": " And this is where things just really just again add these points where things where they were just like these pinnacle these game changers for me, right? So as I'm doing any deals, flipping contracts, flipping contracts and mixing them with the cash is I come across this lady. This lady's name was I'm not going to use her real name. I'm going to say her name is Miss Barbara, right? So Miss Barbara was an old school real estate investor."
},
{
"end_time": 4242.21,
"index": 176,
"start_time": 4216.391,
"text": " That well, she was in a real estate investor. Her husband was a real estate investor. So this is like that old Atlanta kind of money type of thing. This woman, by the way, was just she's like 75 years old. I called her one day to, hey, how you doing? This is DJ Rich's property specialist. Hey, the whole pitch. I like to take a look. She says, yeah, I have a property on 222 Ashby, Ashby Road."
},
{
"end_time": 4269.889,
"index": 177,
"start_time": 4242.995,
"text": " I said, great. I said, we'd like to make an offer on it. Now mind you, I'm making an offer talking to her on the phone. She says, I'm looking at the comps, the comps on the property about $280,000 back then. I said to her, what can I do, do all cash offers? How much would you like for the property? I can close it in 10 days. She says, will you give me $12,000?"
},
{
"end_time": 4300.828,
"index": 178,
"start_time": 4271.561,
"text": " So I'm thinking, I'm like, did I not hear it correctly? Right. I'm like, so I'll pause. I'm like, I'm sorry. Cause we're on the phone, never met. I said, I'm sorry. She says, um, um, can you give me $12,000? I said, um, absolutely. I can give you $12,000. I said, from that fact, I could, I said, but what I'm going to do for you is something special. I'm going to close all cash and close this deal for you all cash."
},
{
"end_time": 4327.722,
"index": 179,
"start_time": 4301.681,
"text": " in 24 hours. Could that work for you? She said, because I'm thinking, but they might get this deal off the table now. Don't get the deal off the table. She said, sure, no problem at all. I said, absolutely great. I said, again, I said, what I like to do because I spend a lot of time working with people in the market and I always want to make sure that I do have a relationship that is solidified, that I do make sure that we do create that relationship. I'd love to come by and meet with you"
},
{
"end_time": 4345.589,
"index": 180,
"start_time": 4327.722,
"text": " And bring over the purchase and sales agreement and we can endorse it there and I can actually expedite this process very quickly for you. Great. I said, well, can I come by? She says, sure. Here's my address. I go jump in my car. Shoot right over there. Get there."
},
{
"end_time": 4371.015,
"index": 181,
"start_time": 4346.357,
"text": " She goes there, this one was like 75 years old, but you could tell, man, when she was younger, you could tell she was fine, she had all this long Indian hair. She was like really thick, she's like, you know, I mean, don't get me wrong, I'm not chasing no 75 year old, but she was fine. You could tell she was like bad back in the day. I'm like, oh shit, she's fine back in the day, right? So I said, so good to meet you, Ms. Barbara. I said, hey, my name, you know, my name is Darcy, so good to meet you. I said, hey, listen,"
},
{
"end_time": 4383.968,
"index": 182,
"start_time": 4371.664,
"text": " Let's get this deal closed. I can get the deal closed to you very quickly. And she says, sure, no problem. She says to me, because she's in the kind of like this. So there's an area called Collier Heights that was like the old black established"
},
{
"end_time": 4408.063,
"index": 183,
"start_time": 4384.65,
"text": " progressive, upwardly mobile black neighborhood in Atlanta in like 50s, 60s. She was still there. So she was kind of like a holdover from that era in that neighborhood, right? So you kind of get the idea of this kind of southern kind of elite of the time that was there. So she has a nice home, but it's an older home, right? So she says, but it's an older house, it's not a big house, bungalow style maybe,"
},
{
"end_time": 4438.387,
"index": 184,
"start_time": 4408.558,
"text": " 13, 14 under square feet. So we're there talking. I'm still with a couple hundred thousand cleaned up, right? He still worked a couple of dollars to clean up. But it, but I said, how did you get, so I said to her, she says, yeah, my husband, she's, we're sitting down there. She says, oh yes, my husband, he died. But he was a real, he was a, it was a contractor and he just buy a house, buy a house, buy a house. And I'm writing, that's fantastic. And I said, well, where's your husband now? And she says, oh, he passed away."
},
{
"end_time": 4466.647,
"index": 185,
"start_time": 4438.968,
"text": " Yeah, he bought over a hundred houses. So I'm like, I said, is that right? Really? He says, yeah, he bought over a hundred houses. She says, so I've been selling off a few of them. I said, that's beautiful, Miss Glass. Miss Glass is there with this shiny silver hair. She's an older woman. Just gorgeous, right? And she says, I sold the house last week. Would you like to see what I bought myself?"
},
{
"end_time": 4493.404,
"index": 186,
"start_time": 4467.841,
"text": " said, we'd like to see what you bought. She says, yeah, she says, come on, let me show you. So okay, never in this woman's house, we stand up and we're walking. So it was like 75 kid, you know, we start walking through the living room. We walk into the kitchen. As you walk into the kitchen, there's a window, smaller window, those older homes, and it's over her carport. The car goes right to carport right there. Just take a look. She pulls a curtain back. And"
},
{
"end_time": 4519.667,
"index": 187,
"start_time": 4493.951,
"text": " Sitting there is a brand new, fresh out the box BMW M5. I said, wow, that's, that's a beautiful car. She says, oh yes, that's the M5. I always wanted it. I said, yes, like I said, I always wanted it too. It's like, that's as beautiful as like 80 grand. It's beautiful. She says, oh yes. I said, do you get to drive it often?"
},
{
"end_time": 4549.292,
"index": 188,
"start_time": 4520.111,
"text": " She just know the young man down the street comes by three times a week and he drives it to take me to get my groceries. I said, Oh, that's beautiful. Ms. Glass. Very nice. So we go back, sit down. I do the contract. Sure enough, to my word, 48 hours later, we're there getting the contract done, pay her the deal. The deal is done. As we're leaving in the parking lot, the clothes are turning. I said, Ms. Glass, do you happen to have anything else out of clothes?"
},
{
"end_time": 4575.333,
"index": 189,
"start_time": 4550.452,
"text": " She says, well, I have five more, but there's only one problem. I said, what's that, Ms. Glass? You're going to have to give me 15,000 for those. My God. I said, all right, Ms. Glass, I think I could work that. I'm actually giving away a real name now. It's, uh, Ms. Barbara, right? It was Barbara, right? I said, um,"
},
{
"end_time": 4601.101,
"index": 190,
"start_time": 4576.493,
"text": " I said, I said, okay, I said, I said, would you allow me to own a finance those? She's how much would you give me down? So tell you what, I'll give you $10,000 down and let me own a finance up. But I will give you the $50,000 again, in 48 hours. Sure, no problem. So what do you mean? So you said they were, they were 15,000."
},
{
"end_time": 4627.705,
"index": 191,
"start_time": 4601.391,
"text": " 15,000 a piece. I'm going to $10,000 and there's five of them. Okay. Oh, okay. Sorry. And the comps range anywhere from $75,000 total. She's going to own her finance $25,000. You give her $50,000, she own her finance $25,000, which is five on each property. Yes. The average comp on those deals were anywhere from $250,000 to $350,000. That was the deal. So her and I, we do the deal."
},
{
"end_time": 4653.558,
"index": 192,
"start_time": 4628.814,
"text": " Get the properties. I do the deal so forth and get the deal in the contract for you. I was like, so I've got I've got five of these properties. I've got five of them and I'm thinking so back then you had some of these people, you know, when you flip contracts that you always look for this. You always look for the sucker money."
},
{
"end_time": 4681.22,
"index": 193,
"start_time": 4654.326,
"text": " You know what I mean? Dumb money, right? People that don't really know the deal but they're ready, they get in the business, they're excited, they're running, they're selling across the board, right? So I had these buyers that bought cash out deals, they bought deals I used to flip deals to. They always overpaid. They always, always overpaid. So I showed them the deal. As soon as I got the deal, I said, I'm flipping these. I'm flipping these off the rip. So I had the deals."
},
{
"end_time": 4711.254,
"index": 194,
"start_time": 4681.613,
"text": " I said, uh, I said, I need to, you know, I want to do the deal. I want to get them sold, call them up, quote my gospel. Hey, I got these, uh, five deals. I want to turn around. I want to sell these deals through. I want to get these deals sold. I said, listen, they're worth about $300,000 each. They ran a comp. So they got excited. They said, yeah, we got to get these out. This is what everybody's friends, you got to get the deal. We got to get these deals. We got to get these deals. No problem. No problem. Turn around. I sell them to deals for a hundred thousand each. They turn around."
},
{
"end_time": 4741.357,
"index": 195,
"start_time": 4712.415,
"text": " They sell the deals for $125,000 each. They're making like $25,000 each one. They don't know how much I'm into the deal for. They don't know how much I'm into the deal at all for. They're rushing to get the deals done. I'm pushing to get the deals done to get Ms. Glass out of the way, because I close with Ms. Glass, but I still want to get her out of the way. We go up to the closing. We go up to the closing about maybe 30, 40 days later, because they use conventional financing with it."
},
{
"end_time": 4766.135,
"index": 196,
"start_time": 4741.971,
"text": " I think with this deal that I did with them, by the time it was all said and done, we went up there, we did the deal, flipped the contracts to them, sold the deals to them. They brought their buyers in. So I closed owner finance, sold the deal to them to have a contract. They went and just parsed it out to their network. They sold it to their buyers. I'm sitting up there at the closing attorney's office."
},
{
"end_time": 4796.271,
"index": 197,
"start_time": 4766.852,
"text": " It's just signing, just signing, just signing, just because for each closing that's taking place at the attorney's office. I'm sitting here signing, signing. I'm at the conference table, because when I got to the people in the waiting area, everybody's there to close their piece of the deal. They've got the deal up there and I'm sitting in, I'm signing, signing, signing. As I got through signing, signing, signing, at the end of it, signing, I'm sitting at the head of the conference table because they were ushering the people in back and forth. The attorney came in and"
},
{
"end_time": 4824.172,
"index": 198,
"start_time": 4796.971,
"text": " All the people there, you know, and they said, Thanks, we appreciate it. You guys did a great job. Thank you so much. Mr. Richards, here's your check. And they slid across a check was like $525,000. Man, when they gave me the fucking check, listen, I said to myself, I said, stay calm. Stay fucking calm."
},
{
"end_time": 4829.77,
"index": 199,
"start_time": 4824.599,
"text": " i'm lucky i'm saying get the fuck out this room now"
},
{
"end_time": 4859.957,
"index": 200,
"start_time": 4830.162,
"text": " I'm looking and first thing I'm thinking I'm like kid after I'm looking the attorneys here the guys here they smell now the guys are looking and they realize because they didn't know how much they didn't know what my payoff was when they're realizing what the payoff was and what the check was across the board and I've got that check for 500 and I'm thinking now these motherfuckers are looking at me like Quinte Quinte right there I'm like I gotta get the hell out of here right yeah I take that check and I slid the fuck about that closing table"
},
{
"end_time": 4862.159,
"index": 201,
"start_time": 4860.265,
"text": " I went out that door."
},
{
"end_time": 4892.858,
"index": 202,
"start_time": 4863.183,
"text": " That's right. Thank you so much. I appreciate every last one of you. I took that check. I went downstairs, jumped in my car, went to Houston's restaurant across the street, which you know, Houston is really dark. This is one of those on West Paces Ferry. Went into that motherfucker, crawled my ass into the back of Houston's, thought I blended in the dark because you know, they have the dark them lights. I'm dark. I didn't want anybody to see me, right? I'm in that motherfucker and I just looked at the check and that was the time I got $525,000."
},
{
"end_time": 4921.578,
"index": 203,
"start_time": 4892.858,
"text": " Off of a deal probably in about 45 days, but you have to remember this is around to just like 2001. I did this. This is like 2001. I turned around took the turn around took the check deposited the check in the bank. The bank I deposited check in there was a girl down there that I used to have the hots for her name. Candice if you're watching this as I'm talking about you."
},
{
"end_time": 4942.91,
"index": 204,
"start_time": 4922.09,
"text": " Her name is Candace and she would brush me or brush me fine. Back then she was young. She had the hair. Look, this is bad motherfucker, right? And she would kind of brush me. I was getting some money, but you know, but this particular check with the money I put in the bank and with the cash I had been already accumulating for my deals. This kicked me over."
},
{
"end_time": 4971.817,
"index": 205,
"start_time": 4943.285,
"text": " The million-dollar mark. That's the other part about this. That was just symbolic because I put the check in with the other funds had already been accumulating this literally put my account literally my account. I was over a million dollars in my account first time and I put the money in I said by these Candace here because I wanted to see me put it in they said, no, she's not sorry, but just tell I want to say hi, you know, you know, I'm trying to catch you know, she brushed me off. You know, I got a boyfriend just there. I'll put that check in the account. They said she's at lunch."
},
{
"end_time": 4997.449,
"index": 206,
"start_time": 4974.002,
"text": " I went home. My phone rang hour and a half later. Hello. Hey, how you doing? I said, Hey, what's going on? Would you like to go to dinner tonight? Absolutely. I knew that that check, that money was the first time I saw"
},
{
"end_time": 5011.715,
"index": 207,
"start_time": 4997.875,
"text": " what really the type of women I wanted the type of crowd I wanted to be around the type of funds I went around and that was when the mindset of I wasn't thinking in terms of 10"
},
{
"end_time": 5038.456,
"index": 208,
"start_time": 5012.415,
"text": " 50,000, I was thinking in terms of millions, always in a million, always in a million. So I need, it just really just accelerated my appetite, accelerated me for, and that was like my first lick that put me over the million dollar mark. And that's really what accelerated me into upping my game and getting into the next level of deals. By the way, the next level of deals, this is what landed me in prison. The new era"
},
{
"end_time": 5051.903,
"index": 209,
"start_time": 5038.968,
"text": " of deal making that ushered into, which was when I got into the condo, condo conversion, condo conversions, condo conversions. And that's what really"
},
{
"end_time": 5069.445,
"index": 210,
"start_time": 5052.619,
"text": " That but the point of that story for me was just it just you know when you're really hustling and you're you're you're you know when you're like really living that shit I ain't talking about hustling and going home and fucking being home for dinner with your kids and shit like that when you're like listen"
},
{
"end_time": 5097.398,
"index": 211,
"start_time": 5069.77,
"text": " I don't give a fuck. I want to get seriously, seriously paid. I want to put the points on the board. It's like being the NBA going to play ball. I want to get on the court, pass me the ball. I want to show you motherfuckers I can dunk too. Right? I want to show you that my black ass can dunk. You know what I'm saying? You want to really let them see it. You know, the mindset and the mentality, it starts to really evolve and go to another level. So"
},
{
"end_time": 5125.811,
"index": 212,
"start_time": 5098.626,
"text": " I'm flipping contracts, flipping contracts, flipping deals. My whole deal program is gone, but I'm looking on how to elevate the step, but I'm really am at this point. I'm really am killing. I had a girlfriend at the time. Another girlfriend time ended up living with Sharon. I were living together and we were living together. Things just Things were just going south between us. I was in the streets."
},
{
"end_time": 5152.654,
"index": 213,
"start_time": 5126.118,
"text": " I was in the street. I was also in the street. The women had changed the party change. Suddenly, you know, the women were just going out with the friends that the crowd. I was going, you know, I was I was the first person in Atlanta. In 2004, I bought I was like one of the first people to brand new Bentley GT Cooper. They came out the two dog. So I copped one of those. I still had my brand new bands. I was just rolling. So my arm"
},
{
"end_time": 5166.613,
"index": 214,
"start_time": 5153.575,
"text": " My girlfriend and I, we had like a really nice contemporary townhouse that, yeah, remember that, Al? Remember, we had this really nice contemporary townhouse and"
},
{
"end_time": 5196.152,
"index": 215,
"start_time": 5167.176,
"text": " You know, shit just wasn't working out. She said, listen, you're not coming home at night. I said, well, I pay the fucking bills. Why would you want me to come home? Do I have to come home? I'm paying for this shit. She said, what are you talking about? I love you. This, that, the other. Of course, I was completely disconnected. I'm like, what are you, what the hell are you talking about? I'm getting money. I'm making sure you straight. And my view was you wouldn't have been fucking with me anyway if I wasn't getting paid any houses. So enjoy the fucking ride. And she says, no, but I love you."
},
{
"end_time": 5226.493,
"index": 216,
"start_time": 5196.852,
"text": " Okay, so the shit, so one day, one day I'm not working. So one day I'm not working. I feel bad. I feel bad. Because the thing really is, is that when these like, you know, when you start, you know, when you start getting paid and everything elevates, everything moves forward, the one group of people leave the room of your life and a whole new usher in."
},
{
"end_time": 5255.128,
"index": 217,
"start_time": 5226.954,
"text": " And that shit is superficial as fuck, and you love it. And you love that shit. Did you get that? I really got a TikTok. But so it completely. So when she said, I love you, I love you. You know, I mean, I love the two, but."
},
{
"end_time": 5282.159,
"index": 218,
"start_time": 5255.128,
"text": " Never been anything more insincere Well, here's the thing as much as one of my kids mothers once told me I believe you love me the best way, you know So I'm at work one day again, I wasn't coming back home wasn't come back home I'm living with the girlfriend shit is rolling shit is moving and she comes in one day cuz I wasn't there and and I can't I guess she got frustrated I'm sitting at the office and"
},
{
"end_time": 5309.206,
"index": 219,
"start_time": 5282.807,
"text": " And the office is maybe two miles from my house. And she come through, she walks through the door. She says, look, motherfucker, I'm sick of this shit. I'm not going to be taking care of this shit. I'm not going to be doing this shit. Yo, motherfucker, I'm here for you. And I'm doing this for you. And I'm doing that for you. And she's yelling in the middle of the office, you know, people are there, you know. I said to her, calm down. Nah, motherfucker, we're going to do this. I said, listen, do me a favor. Just calm down."
},
{
"end_time": 5339.155,
"index": 220,
"start_time": 5311.152,
"text": " Let's take a minute. Have a seat. I'll be right back. Walked out, walked out, jumped in my car, drove to the condo we're at, the townhouse, packed my shit up, put it in the car, put it in the hotel, came back. I was like, listen, this is not working out. We need to do our separate way. I left. When I left that place, I went and"
},
{
"end_time": 5363.712,
"index": 221,
"start_time": 5340.145,
"text": " On 14th Street to Mayfair, I walked in the door of the Mayfair the next day and I asked the lady, I always want to live in the Mayfair. Have you ever been in Atlanta? Is that a hotel? It looks like a hotel, but it was a condo. But in 2003, we're in 2003 right now, the Mayfair was the shit."
},
{
"end_time": 5394.292,
"index": 222,
"start_time": 5364.309,
"text": " Oh, this was just like it's just it's just had the all the decadence and all the all the finishes and what you know, you had to use the key to get in and all the concierge. It just had the whole the whole shit. This was oh, this was you know, the walk in, you know, in the middle of the city. This shit look like Park Avenue, right? And I just want I said I actually won't put Beyonce have a condo in it. She had sold it by the time I got there. But this is just the level of what it was for that day for that day. Right. So I go in there."
},
{
"end_time": 5424.957,
"index": 223,
"start_time": 5395.026,
"text": " And I walk into the main field. I was like, I looked, I'm like, this is where I need to fucking live. This is where I need to be. I had just copped the Bentley. I said, this is where the fucking Bentley needs to be. This is it. So I said to her, I said, I walk into Lisa's office, black shit comes out. She's about my age at the time. We're both maybe at the time, like 32. And I said to her, how much is a two bedroom condo? She says, oh, the two bedroom condos in here are"
},
{
"end_time": 5456.084,
"index": 224,
"start_time": 5426.527,
"text": " No, she is looking at me like $260,000. I'm like $260,000. Says, yeah, he builds a high rise, beautiful. This is like the pinnacle of the city. It says $260,000. I'm like $260,000. She says, yeah. I said, is that the biggest one? She says, yeah. I said, you have anything nicer? She goes, the penthouse. I said, well, how much is that?"
},
{
"end_time": 5467.654,
"index": 225,
"start_time": 5456.886,
"text": " She says, that's $800,000. A huge jump, but okay. I said, okay. I said, can I see it? She looks at me. She says,"
},
{
"end_time": 5492.056,
"index": 226,
"start_time": 5469.906,
"text": " All right. Well, I'll show it to you. She's a little apprehensive and shit. I got jeans and shit. She can't see my car and all this other shit. And I got jeans and dishes. I'm like, all right, I'll show it to you. So remember, this is this is the shit I've been dreaming about. But I've never been in a penthouse. And I'm just asking this shit because I'm meant to explore into 250. I know I had that. But I said I could pay more. Right. So she goes,"
},
{
"end_time": 5517.892,
"index": 227,
"start_time": 5492.875,
"text": " We get in the elevator, she pulls the key out, beep, to go to the penthouse floor. That beep in 2004, 2003 was serious shit in 2003. I was like some serious shit, beep. I get in that shit, we start going up and I'm thinking as we're riding up, I'm like, man, if they could just see a nigga boy. You know what I'm saying? This shit is crazy. We're just riding up and we're riding up."
},
{
"end_time": 5525.64,
"index": 228,
"start_time": 5517.892,
"text": " This is like crazy, right?"
},
{
"end_time": 5554.445,
"index": 229,
"start_time": 5527.022,
"text": " This was like crazy we're riding up we're riding up we got just like a like four units there for each corner right bro she opened up the door to the penthouse she walks in she opened that shit up it's like the sky opened up in that fucking penthouse the floor the ceilings the hardwood floors the windows had just kind of wrapped and opened up it was just"
},
{
"end_time": 5580.333,
"index": 230,
"start_time": 5554.445,
"text": " You know, I look, I said the kitchen, the granite. I said, I said the terrace, the terrace was just, the air was so different. There was three terraces and the air was, I just said, this is, I looked at her. I walked in there and my heart racing. I looked at her. I said, I'll take it. She'll take it."
},
{
"end_time": 5610.469,
"index": 231,
"start_time": 5581.698,
"text": " I said, I'm going to, I said, I'm taking, I'm going to close on it. She says, are you sure? I said, yeah. She says, uh, okay, let's go to do the contract. So we jumped back in the elevator. We go back downstairs. I'm excited as hell. It's black chick, you know, good looking girl. She's got her suit on. She says, all right, she says, good. We're going to, so I could tell by her disposition, though, she's something about me just isn't quite"
},
{
"end_time": 5618.968,
"index": 232,
"start_time": 5610.845,
"text": " You know, maybe my just isn't really resonating with her, you know what I mean? So as we kind of going back downstairs and we're riding back down through"
},
{
"end_time": 5648.473,
"index": 233,
"start_time": 5619.394,
"text": " And I'm right there with her and we're riding down and we come down back down to the concierge. She opens the door up and I see I see the white people with the dog come walking in. I'm like, oh yeah, the white people with the dog. This is the shit, right? I said, this is where the fuck I need to be. They come walking through and we go into the sales office and shit and we go there and we sit in that damn sales office and I sit in front of her and she says, all right, I'm going to do the car for I'm going to do the contract for you now. She says, uh,"
},
{
"end_time": 5676.954,
"index": 234,
"start_time": 5648.831,
"text": " So this one is $800,000. She says, is that your overall? I say, I'm fine with the $800,000. She says, good. She says, all right, how much earner's money are you going to leave? I said $1,000. She's not at this level, you're not. She's like, what? I'm going to leave $1,000. I'm like, yeah, I'm actually going to leave $1,000. She says, listen, sir,"
},
{
"end_time": 5707.722,
"index": 235,
"start_time": 5677.773,
"text": " Are you going to be here to waste my time? I'm not letting you leave $1,000 to earn this money. And I'm not sitting here wasting my time doing this paperwork. So, sir, people leave 1% earnest money, which would be about $8,000 money for these properties. They leave in 2-3% these properties on demand. This is one of our last penthouses left. I said, ma'am, I'm going to close this deal. I'm going to get this penthouse."
},
{
"end_time": 5735.64,
"index": 236,
"start_time": 5708.609,
"text": " In three weeks, I'm going to leave you $1,000 earners money. I'm going to close our cash. She says, sir, I'm not doing it. I'm not filling out the paperwork. I said, miss, just submit the offer to the seller. Who's the seller? She says it's the company that built it. This was the last units they have left. I said, good, even more so because you know, when I heard that this is one of the last units they have left, uh,"
},
{
"end_time": 5761.288,
"index": 237,
"start_time": 5735.998,
"text": " Hold over. I said, Miss, just submit it to the owners and I'll do the, just see what they say. She said, no, I'm not submitting it to the offer. I said, I see your license agent. It's your job to submit the deal. She says, I don't care what kind you just, I'm not sitting here running around with this before reading. I'm not doing it. I said, okay. Why don't you just put down, give her 20 grand. Why don't you just say, Oh, give me 20 grand."
},
{
"end_time": 5792.039,
"index": 238,
"start_time": 5762.159,
"text": " Because I didn't want to put up 20 grand. The reason I don't want to put up 20 grand was that if my deal fell apart and my idea didn't work out, I didn't want to lose the 20 grand. Oh, okay. I'm not sorry. I was assuming you had the money. No, I've got the money. I don't want to lose. No, no, no. I don't want to lose the money. No, no, no. You're not going to lose the money. This escrow with this dependent on on financing, right? But she's not going to let me do it. Well, they're not going to let you do that kind of deal. You put down, you put down. They want your money. Right, right. This is not at a whole nother level. They want to earn this money."
},
{
"end_time": 5815.367,
"index": 239,
"start_time": 5792.039,
"text": " And their mindset is like yours. At that level, you should be able to lose it. But you got to remember, I'm got shit. I was sitting five years ago on Boulevard. This is no way, you know what I'm saying? I'm thinking 20 hours totally differently. So what I did was, what I did do was I went back, I left, I went back. I got my assistant, smart ass girl, brilliant lady named Teresa. She went, I said, yo,"
},
{
"end_time": 5844.821,
"index": 240,
"start_time": 5819.343,
"text": " the company through the tax records that actually did the development itself and who the owners were on that unit, which was a company. They were in Israel. They did these things all over the country, these concepts all over the country. She reached out to a guy named Uri, Uri if you're watching this, she reached out to a guy named Uri, reached out to Uri in Israel and they got them and left a message for Uri to call me. I called her, I said, Uri look,"
},
{
"end_time": 5873.336,
"index": 241,
"start_time": 5845.964,
"text": " Tomo, I was, I'm Darcy Richards. Look, I can close this deal in three weeks. How long have you had that property sitting there? He said we had it there for like nine months, some shit like that sitting there. I said, Uri, look, I can close it sitting there. It's not making you any money. I said, I'll give you the 800,000. I could close it in three weeks. I've got a program because I have a hundred percent stated program and it was a jumbo type of deal, but I had it, right? And I already knew it worked. So I said,"
},
{
"end_time": 5903.951,
"index": 242,
"start_time": 5873.985,
"text": " Let me just go ahead, get the financing, make her take the earnest money. So for the start, he says, he says, let me call you back. He calls me back. He says, listen, I'll do it the way you want to do with those terms. He said, but give me 825. I said, no problem. I'll give you the 825. He raised the price on me. I said, you do me a favor though. I said, why? I said, when you come to closing and we close two things, number one, I do not want that lady that was there under any circumstances to get a commission. And two, I do not want under any circumstances for her to be at the closing."
},
{
"end_time": 5924.855,
"index": 243,
"start_time": 5904.616,
"text": " He said you closed in three weeks. I said closing quote went back. Got a friend of mine, Corrine, who I did business with. She was really successful, beautiful designer. Her and I were doing a bunch of deals together, told her, listen, I got a deal here. I need you to put the property in your name. I'll come back. I'll refinance gave her a few bucks. We went back there with"
},
{
"end_time": 5941.613,
"index": 244,
"start_time": 5925.213,
"text": " We went back, she went in, did the paperwork, did the tunnel three, did all the processing, gave all the products in. I already had the loan product. I knew what the product was. We sent it to my loan officer. He went and processed the deal. When he processed that deal, two and a half weeks,"
},
{
"end_time": 5957.159,
"index": 245,
"start_time": 5941.869,
"text": " We were sitting at a closing with Udi. I think I still walked away from the deal because the way it was praised, still pulled a little bit of cash out because it was 100% financing. Had maybe about another $25,000, like $25,000 to $40,000. I used that towards decorating. Went to that deal."
},
{
"end_time": 5982.705,
"index": 246,
"start_time": 5957.517,
"text": " Close the deal in like two and a half weeks, two and a half weeks, three, two and a half weeks, give or take from there. I am walking through that lobby with my bags, me and Teresa walking through that lobby. And we are walking through the door, brother. The niggas are here. You know what I'm saying? Coming through the door, going through that lobby, going through that door."
},
{
"end_time": 6009.343,
"index": 247,
"start_time": 5983.592,
"text": " Coming through as I, as I walked through the lobby, the sales office right here, bro. And she's sitting here. I said, God, how could you bless me like this? She's sitting there. I had the bags. I looked at her. Hi. I wait, you know, you know, you wave the bag. Hi, how you doing? Just want to say hello to everybody. I I'm the new owner of penthouse 30, penthouse old five or some shit like that."
},
{
"end_time": 6027.381,
"index": 248,
"start_time": 6009.718,
"text": " And she just gave me the look of death. I went and I moved into that penthouse. And when I moved into that penthouse, that's when shit got crazy. That's when shit just went another level. Property levels dropped by 20%."
},
{
"end_time": 6052.193,
"index": 249,
"start_time": 6027.381,
"text": " The parties were nuts we have my cousin could tell you we have oh my god They were showing up They would be in the parties. I was shocked that they would be in there. The office across the street from the penthouse, you know in another high rise across the street So"
},
{
"end_time": 6083.319,
"index": 250,
"start_time": 6053.865,
"text": " Yes, I hadn't moved yet. So wait, can I ask you a question? Who was that? You said me and Teresa. Who was Teresa? My assistant. Oh, okay. I thought it was the girlfriend from the old. No, no, because of the old apartment was gone. She was done. Oh, no, it was a whole new crowd again. I went to like several new. This thing just kept it. See any crazy thing was survived every purge. Is that correct? I'm way smaller."
},
{
"end_time": 6112.381,
"index": 251,
"start_time": 6083.831,
"text": " It evolved and we were in that penthouse and this is when I went into the condo business. This is when I went into the condo business. So little did I know going into the penthouse going to the condo business. Within 36 months, I would be in prison. Within 36 months, I would be absolutely broke."
},
{
"end_time": 6140.896,
"index": 252,
"start_time": 6113.592,
"text": " In prison, life gone up in flames. And I would find myself sitting across from you in the fucking child. Well, so this is but so you got to remember"
},
{
"end_time": 6159.087,
"index": 253,
"start_time": 6141.681,
"text": " The condo business, I was trying to make money money. I was making money like I was making well over a million dollars a year, but I wanted to get I was trying to get in right and I knew so I'm reading this. I read all the time, right?"
},
{
"end_time": 6180.606,
"index": 254,
"start_time": 6159.087,
"text": " So I read this book called great book, by the way, but I'm going to give the audience a book. Don't hurt yourself. Well, you got no to do with this book, but the book is called Barbarian. I read two books. One is called Barbarians at the Gate. I remember you talking about the book. You have to understand that this part of the story is we've I've heard several times in prison up to all this stuff."
},
{
"end_time": 6210.401,
"index": 255,
"start_time": 6181.015,
"text": " I kind of, I didn't really, I've never really heard it. You know what's so insane is like, this is by far, it's extremely entertaining and you haven't even gotten to like, this isn't even a real fault. That's what I'm saying. Most of the times we have a business guy. If we have a business guy, it's bland. It's boring. Yeah. I mean, these are up to this point of all the business stories, but this is what just this alone would be a great podcast. Yeah. It's going good. I'm sitting here, I think the whole time I'm thinking, gee,"
},
{
"end_time": 6219.036,
"index": 256,
"start_time": 6211.766,
"text": " This is gonna be a good one"
},
{
"end_time": 6248.524,
"index": 257,
"start_time": 6219.991,
"text": " So yeah, so I move, we're moving in, and I'm really, really trying to get in. So you gotta remember, by this point, I'm hanging out with Kim Porter, I'm hanging out with, I've become friends with people like, and these are people you might have heard of, Kurt and Rashida, what's up? And you know, Kurt and Rashida, they, right now they have a, they have K-pop Atlanta, all these different, I'm meeting all these people across the board. I'm hanging out with, I'm with"
},
{
"end_time": 6272.927,
"index": 258,
"start_time": 6248.899,
"text": " Kenny Leon, I'm at the theater with Felicia Rashad, I remember from the Cosby show. So this is how my crowd has like really changed, right? So as we go through, as I'm there, I read a book called Barbarians at the Gate. So when I read the book Barbarians at the Gate, I read another book"
},
{
"end_time": 6290.35,
"index": 259,
"start_time": 6273.916,
"text": " I don't remember the name of it, but the book was about a guy named Sandy Wiles. Sandy Wiles, he started Citigroup. Let's just say Citigroup, but it was Citibank. He bought Prime America."
},
{
"end_time": 6313.848,
"index": 260,
"start_time": 6290.64,
"text": " I think is it Shearson and Lehman? It was another brokerage house. It was a conglomerate of financial companies that did everything from insurance, hence Prime America, and brokerage houses, which was Shearson and Lehman. And the Citibank was obviously a bank. It's a big bank in the Northeastern United States. I don't know if you've heard of it. Citibank, yeah. Yeah, I owe some money."
},
{
"end_time": 6335.026,
"index": 261,
"start_time": 6313.848,
"text": " The part that stood out to me in the book about him was he goes into when he bought Prime America. The owner of Prime America was like this gregarious, charismatic kind of leader, and he talked about the business of Prime America, how they sold financial insurance, how they sold the whole insurance concept."
},
{
"end_time": 6363.729,
"index": 262,
"start_time": 6335.794,
"text": " The other book, uh, the other book I read is Barbarians at the Gate. Barbarians at the Gate is a story about Michael Milken when he left Drexel, Bram, and Lambert, and they focused on, uh, doing corporate, he focused on, uh, funding, uh, merge, uh, uh, focus on funding corporate raiders. And they're, in essence, what they were doing, buying companies, which again, were conglomerates, and they were selling them off by pieces. So here's a problem I had. I would, I would always have like a couple of,"
},
{
"end_time": 6388.148,
"index": 263,
"start_time": 6364.206,
"text": " a million or two liquid, but I just had trouble renovating houses all over the place. Especially back then, I was never particularly a great renovator. But the thing was, when you're buying all these houses, you got a house over here, you got a house over there, you got a house over there, and you're trying to run these projects to double, let's say, two million and take it to four, the renovations, you're a rehabber. Yeah."
},
{
"end_time": 6412.363,
"index": 264,
"start_time": 6388.422,
"text": " You're creative, you're a creative person, and you're detailed like that. But for someone like me, I cannot manage those projects like that. I'm not detailed like this, especially when I was doing them at the time. And it just wasn't my thing. I was more of a of sales deal structure. So I could never turn by. So what I realized was, wait a minute, people are buying houses, I can still renovate."
},
{
"end_time": 6442.125,
"index": 265,
"start_time": 6412.961,
"text": " But I need to renovate it with a simpler process that allows me to scale quicker and faster. You know, like an assembly line. Like an assembly line, assembly, blah, blah, blah. So what I realized was, as I was thinking this through, I read the book Barbarians at the Gateway, they were buying the companies, breaking them off. And then at Prime America, where they had the people doing the MLM for Prime America, which is a multi-level marketing where you bring someone in, they bring someone in, and they kind of run it out like that."
},
{
"end_time": 6449.411,
"index": 266,
"start_time": 6442.125,
"text": " So what I realized was I looked at apartment complexes and I said, wait a minute."
},
{
"end_time": 6474.735,
"index": 267,
"start_time": 6450.179,
"text": " These people are buying these condo conversions. I mean buying condos a little bit like people talking about condos, condos, condos, condos, condos. Yeah, so wait a minute. How much is the average condo? The average condo was let's just say 250 at the time. But you had these other buildings that people were buying where the average condo was like 150. Well, how much can I get the apartments for? $25,000 a unit. I'm like $25,000 a unit."
},
{
"end_time": 6494.155,
"index": 268,
"start_time": 6475.469,
"text": " If I get $25,000 a unit, I can renovate back then for let's just say $50,000 a unit. I could turn around and sell you a soft course, you have closing course, you have holding course. But if I'm netting $40,000 off a deal, $30,000 off a deal, that could work."
},
{
"end_time": 6517.227,
"index": 269,
"start_time": 6494.548,
"text": " So we started looking for deals. Well, we started looking for deals and I started working with other bird dogs and we're calling, we're putting together deals. I started seeing properties all over town back then where I was getting them for like 20,000 a unit, 25,000 a unit. I'm like, oh shit. How many units? Anywhere. My smallest one was 20. My biggest one was 144."
},
{
"end_time": 6543.166,
"index": 270,
"start_time": 6517.739,
"text": " And then my, uh, then I was buying tracks of land. I was getting rezoned at the time where I was building, uh, 154 units. I got that rezoned. Uh, and, but I bought the landcast. I had money. I just had the money. So the money allowed me to get quick, fast access. So I would buy like a track for like 800,000 for more here. I would buy, uh, and then I started buying all the properties and bringing them together. So,"
},
{
"end_time": 6570.913,
"index": 271,
"start_time": 6543.933,
"text": " What I did was I did a deal. I did one condo deal. It was a 20-unit apartment building. So I bought the 20-unit apartment. I got the units for like 10,000 units. No, it was less than that. It was something crazy. I got the building for like 300 grand. I got the building for like 300 grand. It was 20 units. By the time I renovated, I sold each unit in there for like 130,000. I went, I did the deal, renovated the deal, got the property, sold the property to investors."
},
{
"end_time": 6587.363,
"index": 272,
"start_time": 6570.913,
"text": " So what I did was I created like a multi-level marketing concept, like, say, when Prime America did, it was called Fire Your Boss. So you'd bring someone in, they'd bring someone in. And Prime America was giving these people like 40 bucks or like 150 bucks for the insurance process. I said, listen, you help me sell a condo, you'll get three grand."
},
{
"end_time": 6616.527,
"index": 273,
"start_time": 6587.841,
"text": " You bring someone in and they sell a condo. They get three grand. You get 500 and then the third tier down was like, let's say 150 bucks, right? People loved it. It instantly took off. So it took off so fast. And when I did the 20 units after I pay, I renovated it. The place is in great shape. Cost me like 40,000 unit to renovate. So give or take 40, 50,000. I did the renovation. So I made like 1.3 million dollars in like 90 days profit. I was oh shit. This was like"
},
{
"end_time": 6645.879,
"index": 274,
"start_time": 6616.937,
"text": " This was just like, it was just unbelievable. I got the building, did the renovation, I had the hardwood floors, I just upgraded it, brought my appraisers in, you know, and then they just did the appraisal on it, turn around, the network marketing group started selling it. They made all that money from the sale, bringing their friends and groups that all we did was turn around and lease it out. It was like their little own investment property. And the funding was flowing, easy funding. Sometimes we were getting 100% financing. Now, I was assisting some of them with the down payment. It's gonna happen."
},
{
"end_time": 6675.026,
"index": 275,
"start_time": 6646.596,
"text": " So nothing wrong with that. Everybody's doing it. Everybody's doing it. So I was the system with the down payment, but the deal went through great. I made well over a million dollars. The first deal the first building one thing. So when the first deal went through for only thing was going through my mind was how much of this can I do? That's the only thing I could think of like how much of this can I do? So let me back up a little bit relative to this story."
},
{
"end_time": 6697.381,
"index": 276,
"start_time": 6676.032,
"text": " There was a guy named, there was a guy named Joe Haresh. There was a guy named Joe Haresh. Is this the hard money lender? This is the hard money lender. This is the hard money lender. I want to tell him. So"
},
{
"end_time": 6724.343,
"index": 277,
"start_time": 6698.353,
"text": " Right. So, right. There's a couple of things with Judge Rush. I didn't remember that part, but thank you for reminding me because I'm going to tell that part as well. Also, I'm going to tell you that Joe... So, hence, pause right where I'm at on that first part of the story. We're going to bring Joe to Rush so you can understand how he played a part in this. When I got into doing deals and I got into flipping contracts, flipping deals, one of my main customers was a guy named Joseph Rush. Joe was about a year older than me, Jewish guy, super smart."
},
{
"end_time": 6740.64,
"index": 278,
"start_time": 6724.343,
"text": " Super, super smart. He just understood how to do deals. And he understood how to negotiate deals. And he had way more, he had a stronger knowledge base than I did of the deals. But I was selling the deals because he had the money. Joe had the dough."
},
{
"end_time": 6770.282,
"index": 279,
"start_time": 6741.186,
"text": " So I would sell Joe deals. Listen, bro, I love Joe. Joe was my I mean, Joe was just somebody I just really liked. It was just something about his demeanor. He was he was real calm, real cool, had a great family. And we were hustling deals. You know, I was selling the deals. I'd find a guy do all the legwork. But again, I was making $12,000 on some deals. I was making $10,000. I mean, this was great cash coming in. So this is like me. I originally started flipping contracts coming through. Joe's my one of my best customers."
},
{
"end_time": 6796.715,
"index": 280,
"start_time": 6770.282,
"text": " So the thing was, was that as I'm as I'm doing these deals, Joe, so I'm doing business, but as I'm expanding in my business, so was Joe. Joe ended up opening banks. Joe ended up creating these equity lines. Joe had a process where he had a group of bird dogs bringing deals in. He had a marketing team that he that was marketing to bring new investors in the bird. Those were the deals in the marketing group, the marketing, the marketing people."
},
{
"end_time": 6819.872,
"index": 281,
"start_time": 6796.715,
"text": " I brought the buyers into seminars or something and he had the bank Loaning him money a low interest rate and he was turning around and by using credit lines to loan his buyers the money to buy his high interest rate to buy his deals So he's doing it twice. He was catching the money off the deal because he called himself now hard money lender He's catching the money that way and he was also selling the deal. So he's getting a spread and"
},
{
"end_time": 6850.162,
"index": 282,
"start_time": 6820.418,
"text": " On as well. Also, he just made sure they qualify to refi out the deal because he wanted them to be able to exit off of the deal. You follow me on that? So he wanted to be able to exit. So he did this. So you got to remember they have revolving credit lines of like 50 million. They just they just had the cash coming in. So again, his team, we advertised the deals through deals like 3% down because he was able to give him low down payments. He gave him a great deal. He had one group following the deal. It was a printing press for money when the market was good."
},
{
"end_time": 6880.094,
"index": 283,
"start_time": 6850.708,
"text": " And when the financing was good, they brought the buyers in, the buyers would buy the deals. He had a team bringing the deals for the buyers. And guess what? I'll loan you the money. So he was able to pay himself his own spreads, able to give himself interest premiums because he also loaned them the money to buy his deal to spread the premium. And then they refinance into another deal. I mean refinance to another loan and then get his money back to start all over again. So Joe was making a fortune doing this process."
},
{
"end_time": 6909.667,
"index": 284,
"start_time": 6880.094,
"text": " So as Joe was doing his processes, he was coming through during his process. Joe was making millions of millions of dollars through the years. So I kind of stopped finding Joe deals because my process had picked up as well also. So now hence going into these deals moving forward with Joe. Joe's a big lender in town. Joe's dealing with some of the major people like on the national bank. He's easily on that level. He's doing all these deals. His name is just ringing bells all across the city. Everyone knows who he is. So me."
},
{
"end_time": 6934.531,
"index": 285,
"start_time": 6910.23,
"text": " At this point myself, I am now doing condos. So what I did was I did the deal I made. Again, I made a killing on that first deal that I did. I had my guys found me a bunch of deals. My guys found me a deal. I had 144 units from the guy named Moshe. Moshe had 144 units. I got the deal at $25,000 a unit."
},
{
"end_time": 6951.988,
"index": 286,
"start_time": 6934.753,
"text": " I had another deal where I was going to do a hundred, where I bought the land. I was going to do 35 houses there. Again, I just want to move the units and get everything built because my goal was $35,000."
},
{
"end_time": 6980.52,
"index": 287,
"start_time": 6951.988,
"text": " of everything, $35,000. Then I had the land that I bought that I rezoned for the 154 units. I was going to build the building from there. And listen, and the people who set me up to do this deal, they had just done a $50 million deal across the street. They had set me up and I was part of this big community. They had this big tax credit program that they did. But the point is I got the land great, I increased the value by getting it rezoned. I actually increased the density of properties. I created all of this equity in it, which made it much easier for me to get finance. I created the density in it through the rezoning."
},
{
"end_time": 7009.531,
"index": 288,
"start_time": 6980.52,
"text": " Which was a big deal over there. So I got that deal. I had that deal. I was going to do I want the land. I just had to get it built. That was my few new builds and then I had the homes there and then I had the hundred and forty four unit there and then Now I need to get the deals finance. So at the time I probably had liquid at the time two and a half million bucks. So The profit from these deals that I had all together so all well"
},
{
"end_time": 7027.91,
"index": 289,
"start_time": 7010.452,
"text": " I'm looking for, I'll tell you that. I'm trying to get the rest of the financing to take down the 144 unit, the 154 unit, and the 35 unit. So I go back, so Moshe is trying to help me get financed because he has his big building in the world too. He gets a big payday,"
},
{
"end_time": 7047.91,
"index": 290,
"start_time": 7028.268,
"text": " If he can get me fine, he has a big name in town. He has this guy was like a builder, a Jewish guy who was a builder in Atlanta. He had properties up and down Piedmont. He in Midtown, he's going to kind of jumped off that Piedmont strip of building those mid rises. So that's what he did. He was a developer like that."
},
{
"end_time": 7077.415,
"index": 291,
"start_time": 7047.91,
"text": " They spoke to me really fucked up in that meeting. You know, went to the meeting, they knew me, there was a guy there, I'll never forget, a guy named Avi. And, you know,"
},
{
"end_time": 7104.906,
"index": 292,
"start_time": 7078.097,
"text": " He took me there because he liked me. He had the big name, right? And he said, listen, I'm selling DJ to steal. So I was always in the hard money department. So now they brought me down to the commercial banking department. This is private banking. These are like hustlers who've got some serious fucking money. So they knew me from the hard money section. They did all of them, but they had a private banking section as well, too. So he takes me down. This is his area, the private banking sector. They do for developers and developments."
},
{
"end_time": 7134.411,
"index": 293,
"start_time": 7104.906,
"text": " So he's introduced me to God in my heart. He says, yeah, this is going to do and the guy sitting here has this big picture of like, like, like fucking Al Pacino, like a painting of Al Pacino. And these motherfuckers look like gangsters. You know what I mean? Like they're bankers, but they look, they look and feel like gangsters. It's like, they're in a horizon. And I'm sitting here and I knew who Avi was. I'm seeing him passing by upstairs. So he's sitting here. He looks, he says, he starts speaking in Hebrew."
},
{
"end_time": 7162.671,
"index": 294,
"start_time": 7135.435,
"text": " To Moshe. So as he's speaking to Moshe in Hebrew, Moshe is looking at him, and then Moshe looks at me, and then he's looking at him, and he's speaking, and I could tell by his body language, you know, the hubris, the arrogance. Yeah, it's rude. First of all, it's rude just to fucking have that conversation. And his body language really was like, oh, fuck this nigga, right? That's what I got from this shit, right? Just fuck this nigga."
},
{
"end_time": 7189.974,
"index": 295,
"start_time": 7163.285,
"text": " But I'm sitting here and I'm with Moshe. I'm here with Moshe. Moshe is the man. You know what I'm saying? So I'm sitting here and Moshe, so I hear Moshe saying, so Moshe did, Moshe spoke a little bit of Hebrew. Then he came back and he said, nah, he could buy the deal. He's got some money. So I seem to calmly walk in the street. He's buying about a deal. He got some money. You know, he could do this. He could do that. So Avi says, nah, never looked at my, never. I mean, I had some plans. I never really looked at the plans."
},
{
"end_time": 7217.995,
"index": 296,
"start_time": 7191.766,
"text": " Never really gave me a shake, just kind of super dismissive. But not only super dismissive, gave me the Kunta Kinte look. If you're black, you know the Kunta Kinte look, right? It's like, nigga, get the fuck out of here. You know what I mean? That sort of look, right? So I sat there with Moshe, and I said, Moshe said, listen, let me talk to the guy a little bit further, right? By this time, you got to remember, I wasn't Moshe, and I wasn't Avi."
},
{
"end_time": 7246.135,
"index": 297,
"start_time": 7218.387,
"text": " But I was getting money like a motherfucker too. You know what I mean? So I was like, fuck him. I'm like, first of all, fuck him. I'm like, I'm not going to see it from this guy. I mean, I'm sure he's making money, but I'm like, fuck him. You know, so I went, I went to Moshe. I know somebody. I know somebody who's loaded. And he likes me a lot. You know what I'm saying? He's like, I was talking about Joseph. So I go back."
},
{
"end_time": 7270.316,
"index": 298,
"start_time": 7246.817,
"text": " I called Joe. I said, Joe, look, I got these deals. I'm doing this. I'm doing that. I've got this going. I need this going. I got these deals. I need the financing due to construction. I need to finance to do this. I need the acquisition money. I need construction money. I had the deals, blah, blah, blah. So I'm telling Joe the whole deal. I showed him what I made off the other building. Show him my HUD statements. Show him my accounts. I went there. So he said, so he's there with his partners."
},
{
"end_time": 7300.828,
"index": 299,
"start_time": 7270.93,
"text": " At their meeting, so this would be just kind of running through them. So as far as they're looking because the money sounds crazy. I know that they're like, is this guy real? Is this true? So Joe sits in Joe says, nah, this is this is this is my God. He says, now this is this is my God. He says, I know this guy. He said, this guy's telling you the truth. He said, first of all, I'm looking at stuff. I already know what he does. He says, nah, he's really getting like this. So. He says. They go back, they talk, he calls me, calls back from another me. He says, listen, tell you what?"
},
{
"end_time": 7326.288,
"index": 300,
"start_time": 7302.705,
"text": " I'll fund your deal, but this is what you have to do. The process that you have. I love it. I've got an apartment building. I need to get rid of run my apartment building through your system as well. Also. So I said, all right. So he says, here's how much I want to give. He's a much a month for it. Bop, bop, bop, bop, boom."
},
{
"end_time": 7339.462,
"index": 301,
"start_time": 7326.681,
"text": " I said, I said, all right, so I looked at the deal. I'm like, well, I'm gonna need like 8.5. We did numbers like drama, like 8.5 million to do all this stuff, right? To get it going to get it moving to get moving across the board. The money was recycling. So we kind of worked is"
},
{
"end_time": 7368.268,
"index": 302,
"start_time": 7340.196,
"text": " The money kind of came for some of the acquisitions because the 154 million is like four and a half million itself, but then they get the project renovated and they get the project done. So it was the point of it getting renovated to a point where the sales start feeding the deal itself, but it had to get the momentum and get it up to that point. So it was about 8.5 million, 8.5 million give or take to get it to that point. So you had the acquisitions and you got a certain amount of development that had to get done. So we can start cash flowing off the units. So I said, all right, cool."
},
{
"end_time": 7390.998,
"index": 303,
"start_time": 7368.916,
"text": " So I went and I brought Moshe. I said, Moshe, I'm going to bring you back to Joe. We're going to put this whole deal together. I said, Joe's my guy. So we go in the room. We sit in there and it's me, Joe, Moshe. We start talking about the deal. This time that I'm in the room, I'm in control of the conversation because Joe's my guy."
},
{
"end_time": 7415.708,
"index": 304,
"start_time": 7391.493,
"text": " And we're going back and forth. We took about the deal. I'm explaining the deal. Joe's explaining the deal. We're explaining back and forth. Joe's explaining the deal. So Joe starts going in detail about the deal. So remember, I'm hustling. I'm getting money. I'm making this whole, all these deals work. But Moshe and Joe had a more in-depth understanding about real estate finance, about real estate sales."
},
{
"end_time": 7438.166,
"index": 305,
"start_time": 7416.067,
"text": " and on the financing side in terms of how what the impact of interest rates relative to a loan relative to because it was accruing because I didn't have to pay out at first. It actually would be sales coming in the cells coming through but there would be an accrual but they had that accrual compounding"
},
{
"end_time": 7465.64,
"index": 306,
"start_time": 7438.848,
"text": " You see what I'm saying? So it becomes a very difficult nut to crack because it's kind of compounding on itself. So they are just so they just really, Moshe really understood the impact on it, but I was hungry to do the deal. I said, fuck it, I can outsell and outpace it. You know what I'm saying? So when we left that deal, myself and Moshe, and we left that deal, Moshe looked at me. Moshe said, yo, man, listen, you know, I really like you. He says, I want to sell you this deal."
},
{
"end_time": 7488.524,
"index": 307,
"start_time": 7466.237,
"text": " He said, but I don't like that guy, man. He said, I think that guy's gonna screw you. I said, Joe? Are you kidding me? Joe, screw me? I'm like, nah, why would he screw me? Joe Harash? Joe's like a year older than me. And we're all about the same age. I said, I've worked with Joe through the years. I get the whole strength of it. He says, yeah. He says, but"
},
{
"end_time": 7515.657,
"index": 308,
"start_time": 7489.718,
"text": " I don't like that deal he gave you. I just wonder why would somebody give you that deal the way it was. But I've seen those rough deals before. So I said, I can get through it. He said, all right, cool. We put together a deal. We do the offer a lot of intent. We do the whole deal. So now the deal is cross collateralizing all my other assets. Remember, I have free and clear assets in that deal as well also. So it's 8.5 million. But remember, I bought that property."
},
{
"end_time": 7544.514,
"index": 309,
"start_time": 7515.657,
"text": " Where the warehouse was building the 154 units. I got that property below market value. I created equity. I probably worth like 1.8 million at the time. So I put that property up. I put the I had the land deal up and I think he had me put like another million dollars. So I was getting like 8.5 million, but I was still into it for like 3 million myself, right? Then let's just put that that. But that puts you in a bad position if you're in a position where you need to tap the equity"
},
{
"end_time": 7572.944,
"index": 310,
"start_time": 7544.906,
"text": " If anything goes wrong, how do you tap the equity of the if all these other parcels are are encumbered by the deal? You're saying like if you got an asset here, like at least if I get into a crunch where I need money, I can go to that asset. I can go to this that he's tied up all your assets. What if something goes wrong? Something did go wrong, right? Right. You also have to you also said you had a couple million and you were in liquid."
},
{
"end_time": 7579.616,
"index": 311,
"start_time": 7573.473,
"text": " Right, but remember, is he lending you the money for the renovations or are you using your money or are you using your money to do all your other deals?"
},
{
"end_time": 7608.575,
"index": 312,
"start_time": 7580.247,
"text": " So remember, I started to run the company. I still put up like another million give or take in it. I still use my other assets up in there. So remember, he loaned me a 8.5 million. I really went out with my cash on this damn deal. I had a few bucks left, but I really didn't deal between my team, my staff, getting the deal together, going through zoning, getting literally just sucked up my cash construction. Well, we didn't get to the construction part yet. So I was in this deal."
},
{
"end_time": 7637.79,
"index": 313,
"start_time": 7609.172,
"text": " All the way in, but Joe's my guy. And Joe did the loan and I looked at my numbers on the deal. I was making profit on the deal profit. I was making somewhere between somewhere around seven million dollars off the deal of all those properties together. I was walking away with like seven million bucks. A lot's got to go right. A lot's got to go right. And but I knew the pace. I could sell it. I said I could outsell this motherfucker. Let's just get this shit going. Go in. What year is this?"
},
{
"end_time": 7650.094,
"index": 314,
"start_time": 7638.404,
"text": " Right now. I am in 2004. We put the deal together as we put the deal together across the board. I started getting going to go after the first project, which was the"
},
{
"end_time": 7679.582,
"index": 315,
"start_time": 7650.623,
"text": " 154 unit. Yeah, that's right. Blue sky, right? What after that one for blue sky went up there first. So we go in my cousins did running the projects down there got another developer nothing. We're all down and we go when we start renovating summer. So we start renovating summer. Do you remember this is an apartment building? So we're these have like a this is a massive apartment on four acres. So we're taking so these each of each building has maybe like 10 apartments 15 apartments something like that eight apartments at 12 12 apartments for good, but we're taking a course. We're doing full gut renovations the whole thing across the board."
},
{
"end_time": 7707.534,
"index": 316,
"start_time": 7680.077,
"text": " So I'm having trouble getting my so I go out put in for the drawer. I can't get a draw from Joe slow. No, let me back up. No, we did Bradley. We did Bradley first. We did Bradley first. We did Joseph. Joe said do my building first, right? So Joe says do my building. So his building was in prime location. I own the building now."
},
{
"end_time": 7730.077,
"index": 317,
"start_time": 7707.875,
"text": " But his money's in the building. They already started doing the granite countertops, the base of this to that, all this shit across all the floors. The whole thing looks great. We didn't get to the other ones yet. So we're trying to get to the other. We're trying to get through the renovations, trying to get through the right says we came to the renovation. We're trying to get through the renovations."
},
{
"end_time": 7753.575,
"index": 318,
"start_time": 7730.981,
"text": " We're renovating it. They start selling. So we started to sell here. We started to sell there. It starts picking up. The MLM team is coming through, coming through. So as they're coming through, we start trying to get the money for the drawers. This guy won't get the money for the drawers. He's moving slow on each drawer. I'm like, Joe, we have the momentum going. I don't understand."
},
{
"end_time": 7782.022,
"index": 319,
"start_time": 7753.968,
"text": " You know, Joe and Joe's doing all these other deals. So we go, we're renovating, renovating. Again, Joe won't do it again. So finally, I'm like, yo, Joe, what the fuck is going on? You've got me in this thing for millions of fucking dollars. I need the drawers to finish the construction. The building looks great. People want the building. They're buying the building. He's getting the payoff because he funded it. So he's getting the payoff money. I'm like, where the fuck is the fucking, where's the drawer for us to finish the renovation?"
},
{
"end_time": 7803.968,
"index": 320,
"start_time": 7782.022,
"text": " Yeah, we call him down. It's once. Oh, I couldn't reach you on busy, you know the spin. Oh, I couldn't do I could so now it's killing me because you know, I can be an aggressive person. So it's killing me. I'm like, oh my god, Joe don't do I just thought of my relationship going there with him is just is just and I realized something."
},
{
"end_time": 7830.418,
"index": 321,
"start_time": 7804.889,
"text": " Joe and his attorney had attorney named John, they took they wouldn't give me the money. They were running me to fuck around. I'm calling like, Oh, listen, I've got $50,000 on contracting bills. What the fuck? So but again, he had a lot of units already done beautiful grand count. These buildings were selling for 265. They were done. They were nice people wanted them. We just have to finish. Finally, this motherfucker I realized I said, Oh, this motherfucker's not paying me."
},
{
"end_time": 7856.442,
"index": 322,
"start_time": 7831.34,
"text": " This motherfucker really is just not fucking paying me. So I said, let me teach you a lesson. So we called Joe down in one day, we said, Joe, listen, we want you to come through, fucking come take a look at the property, see the progress. He said, sure, no problem. He comes down there. When he comes down there, he comes down, he walks into the walks on the property. I said, Oh, yeah, Joe, let me show you the unit that I'm sitting in. He says, All right, cool."
},
{
"end_time": 7885.862,
"index": 323,
"start_time": 7856.834,
"text": " We get up. I said, it's right in here. I said, look at the progress we have. We open the door. When we open the door up, fuck it. As we open the door, Joe steps in. Suzy stepped in. Somebody was right behind him, locked the door. Cut off the lights. Three masked guys come out with fucking sledgehammers. Boom, boom, boom, boom. Destroy a $265,000 unit. Boom, boom, boom, boom. They yell, next time it's going to be ahead, motherfucker."
},
{
"end_time": 7913.387,
"index": 324,
"start_time": 7886.527,
"text": " Give us our fucking money, right? So he destroyed the units, destroyed, boom, boom, boom, boom. Give us our fucking money. And he's standing there like literally pissing on himself, right? Don't fuck around. And I'm standing right there next to him. I'm like, Joe, stop trying to rip me off. You're going to end up, you're not going to end up on the wrong note, right? He leaves. He leaves. We go back. He calls me to his office that Monday. He says, all right, I'm going to play nice on a play fair."
},
{
"end_time": 7939.855,
"index": 325,
"start_time": 7914.138,
"text": " Says I'm going to start paying you your money. I said, okay. One or two deals. We keep these deals going. We keep these deals going. He starts pulling the money out again. Besides, he won't pay. He won't pay the construction. Now mind you, I've got, I'm going to, I've, I've collateralized all this stuff. Then it dawns on me. Joe can foreclose on me if I don't meet my deadlines for these deals."
},
{
"end_time": 7969.241,
"index": 326,
"start_time": 7940.879,
"text": " And then I'm kind of thinking, I'm kind of looking at it again. I put up all of these properties, the land for the 35 homes, the rezoning I did for the 154 unit, the cash is cross collateralized. And Joe is giving me like 30,000 here, 20,000 there. I'm like, I'm like, what the fuck have I got myself into? I mean, this guy's gonna just wipe me out."
},
{
"end_time": 7999.855,
"index": 327,
"start_time": 7969.974,
"text": " You know, and I've appealed to him every which way possible. I just felt I'm like, I can't get this shit done. This is I'm like, he's going to fork. I already know this is is is ominous. His intentions are shit. You know what I'm saying? I mean, this motherfucker is just I then went back to Moshe Moshe said this guy is I remember thinking back in my head. Well, she said this guy was going to fucking screw me. So I came up with an idea. I never forget I was standing on my terrace in my penthouse and it just dawned on me. Listen,"
},
{
"end_time": 8020.469,
"index": 328,
"start_time": 8000.794,
"text": " Bring your guys back in. What we're going to do is we're just going to run cash outs on the whole property and come back and fix the units. We'll circumvent Joe. I already knew my attorneys. My attorneys were crooked as the day was long, right? And then I had the appraisers, which would mark up anything under the sun."
},
{
"end_time": 8036.493,
"index": 329,
"start_time": 8020.469,
"text": " And so we did was I got the MLM team pumped all the way up. We started doing the means. Hey, come on down by condos. What we're going to do is we'll sell you the condo. Once we get the cash off the condo, we'll go back and we'll fix the condo. And then once we fix the condo."
},
{
"end_time": 8060.282,
"index": 330,
"start_time": 8037.295,
"text": " We'll take off that way, right? And you've already got several of them rented so you can show them. Yeah, sure. We have a model model. We had a model units all we had model units on each property. We had the model units from there. If we weren't partying the model units, if you know what I mean, right? We had the model units there. We had the homes. They had to mount the whole thing from there. So what we started doing was selling the people with some people in Florida."
},
{
"end_time": 8085.742,
"index": 331,
"start_time": 8060.742,
"text": " With the MLM, we're selling people up and down Cali. We're there partying our ass off from San Francisco, fucking signing condo docks up and down. I was a Highway 1 in Cali, whatever that desert is, something off in all these correction offices. They were buying the condos left and right. So we're selling condos up and down California, some in New York, and they're buying them. So what happens at the turkeys like, look,"
},
{
"end_time": 8110.964,
"index": 332,
"start_time": 8086.51,
"text": " I'm getting a few extra dollars and what they're doing is they're not even letting Joe know they sold because Joe has a note on them. They're just giving me the money to go back and fix it. So now by this case, we're so we're selling three condos a week. We're picking up like 300 grand a week to come to come back and fix to come back and fix to come back and fix to come back and fix. So we're going back and we're fixing them now. Are they always getting fixed quick enough on time?"
},
{
"end_time": 8118.66,
"index": 333,
"start_time": 8112.995,
"text": " It's just when you've got the cash coming out, you've got to get through the construction. I bid off."
},
{
"end_time": 8145.981,
"index": 334,
"start_time": 8119.053,
"text": " Way more knocker true because of how to deal with structure. I didn't have the space I didn't have the time and now I'm doing these damn cash outs We're getting them fixing people in but we just are not moving quick enough So these properties that are going in they're getting appraised but they're not done and they're not moving quick enough to get them done across the board It's just a slow machine and I've got issues with the contractor because these are my first projects of that size, right? So you gotta remember these are"
},
{
"end_time": 8174.002,
"index": 335,
"start_time": 8145.981,
"text": " Big apartment complexes. We're trying to blow right through them. So but again, I'm making you know in the process, of course, I'm seeing a shitload of cash like literally from just gross cash. I was literally like 300,000 a week. It just gets crazy. Literally. We're going to the bank picking up the money. They didn't even unpack the money. They used to take the money money and banks come in big plastic bags."
},
{
"end_time": 8184.053,
"index": 336,
"start_time": 8174.309,
"text": " So you have the smaller bags, which are maybe like $40,000 $30 and they are back and they come in a big bag."
},
{
"end_time": 8208.029,
"index": 337,
"start_time": 8184.633,
"text": " And they put them in a big bag, and that's when you get to 250. That's what it was. I remember he used to go pick them up. 250. They would just weigh the bag. They didn't even count at that point. They just weighed. So they'd be coming there, and they would just drop our weight on our back. Boom. We'd snatch a bag of money. It'd be like $250 million. So that's how this shit was rolling, right? That shit was coming in at that point, flowing through. So we're rolling. And then, of course, you know,"
},
{
"end_time": 8234.053,
"index": 338,
"start_time": 8209.991,
"text": " I was buying Ferraris and normal trappings and shit like that. But we were going through the project across the board and failing quickly. So as we're getting the projects done, we're getting them done, we're moving them through, we're trying to bring the other projects online, we're getting these other deals done, we're bringing them on, trying to get this stuff going. Joe has no fucking clue. He thinks every now and then we tell him, oh, Joe, we closed one."
},
{
"end_time": 8262.466,
"index": 339,
"start_time": 8235.555,
"text": " He's like, oh great. This is really moving slow. Yeah, he's thinking this guy's going to go under. You think this guy's going to go under? He doesn't know I close 30. I already got three million, three million off this shit already. I'm trying to play it back in, but at least I got three million out. You see what I'm saying? You know, my mentality back then, I didn't give a fuck about anybody but save my own neck, right? So I'm thinking we go through, we're moving through, moving through. So he doesn't realize, he doesn't realize. So as he's going through,"
},
{
"end_time": 8279.804,
"index": 340,
"start_time": 8264.172,
"text": " We're pulling the cash out. We're pulling the cash out. But I still have the momentum of the banks because we're closing really fast. We're closing really quick. So I'm still getting there, but I'm not as quick as I should be. But they're getting it, man. They're slowly moving down, trying to refine."
},
{
"end_time": 8299.804,
"index": 341,
"start_time": 8281.288,
"text": " We had a team in the back, processing everything through the contractors, bookkeepers, and so on."
},
{
"end_time": 8325.981,
"index": 342,
"start_time": 8299.804,
"text": " And we're going through this process, closing, closing, closing. And we're getting to, I'm like, yo, we could win this thing, we could bring this thing off, and the money's coming in. Because at the end of the day, there's millions of dollars to be had if we could just get there. And we're really moving through what we're trying to get through. And as we're going through the process, we're like two years into this now, two years into this process, but it's moving, we're starting to get a little bit better. We had like seven or eight loan offices closing."
},
{
"end_time": 8356.459,
"index": 343,
"start_time": 8328.319,
"text": " The loan started getting a little delayed. So we process process, yo, how come this fucking deal isn't closed? We're down here trying to close. Well, the lender, H.J. Wilson mortgages, they went out of business. What? They went out of business. What the fuck are you talking about? And what year is this? We're now up to 2006. Right."
},
{
"end_time": 8377.91,
"index": 344,
"start_time": 8357.398,
"text": " We're doing the loans, doing the loans. We have like 20 lenders. We're doing the loans, doing another loans come through. Again, this thing is like, how come this deal hasn't closed here? We've done 30 deals with these guys. They just went out of business. What? The lender?"
},
{
"end_time": 8404.667,
"index": 345,
"start_time": 8378.166,
"text": " Another one. They just went out of business. They just went out of business. And I remember sitting here looking at a board with 25 30 deals on the board or call you to about millions literally in closings. Every motherfucking lender was closed. The only one that was hanging in there. They slowed up significantly."
},
{
"end_time": 8435.111,
"index": 346,
"start_time": 8405.128,
"text": " I knew you were going to say Countrywide, too. Countrywide was the only one barely hanging in there. And I remember sitting there looking, they were like, it was a fucking IV drip. Countrywide was like the IV drip slowly keeping us alive. Clothes here, clothes there. So I'm looking at this. Now, remember, you're talking about every lender in the secondary market fucking gone. And I'm thinking to myself,"
},
{
"end_time": 8463.097,
"index": 347,
"start_time": 8436.681,
"text": " How come this isn't on the news? I'm like, the whole secondary market just closed. How come this isn't on the news? So we're still trying to hang on with the deals. By this time, I say to Joseph, I'm like, I need to move this property to sell because the banks are gone. We need to sell this property. Joe says, all right, well, let's get the property going. He says, I said, well, look,"
},
{
"end_time": 8492.756,
"index": 348,
"start_time": 8464.77,
"text": " I need to get this deal sold off. And he says, all right, he says, well, you got all these deals left. I said, well, Joe, those deals really aren't there. He says, what do you mean they're not there? He says, well, they're not there. No, I said, I need to pay you off to get you out this deal. So we went through the deal, went through how many was really there, how much was really there across the board. He found out that everybody was undercutting them because I had to tell them because I had to pay them out. I said, if I could just get them free and clear, I could kind of move it through. So"
},
{
"end_time": 8512.619,
"index": 349,
"start_time": 8493.387,
"text": " We make a deal where for the building that was, he would release my other properties and the building that was left there for me, I had to give him like, because of the interest accrued and he was killing me and I just wanted to get him out the way and I didn't know what the repercussions were for what I was doing."
},
{
"end_time": 8540.247,
"index": 350,
"start_time": 8512.619,
"text": " We go to Linda and at the lender, we close it and we get Joe out of the way. Well,"
},
{
"end_time": 8558.541,
"index": 351,
"start_time": 8540.811,
"text": " While we're doing this and getting you out of the way, I said, all right, not gonna sell these deals over. I call this guy, Ronnie, I said, listen, I need an assistant. I need an assistant. I'm fucking get my ass kicked here. I gotta get these units sold off. I'm trying to get I've got these units left. I said, now it's on the news."
},
{
"end_time": 8585.094,
"index": 352,
"start_time": 8559.343,
"text": " Lenders are banks are closed all over that the market is crashed on the bank finance now It's all over the firestorm if banks are closing. This is this is like the Great Depression a year later it hit the news when they announced that the marks of the market close this really happened a year prior, right? Yeah, they waited a year and then they announced it it really happened the year before so"
},
{
"end_time": 8614.428,
"index": 353,
"start_time": 8586.186,
"text": " As they're saying all this, I asked him, I said, I need some help. I need some help. What's going on? He says, I'm losing these properties. The market is in the toilet. All the values are shot down. All the banks are closed. I gave Joe all my money. You know what I thought the bottom was? I wasn't remotely close. The bottom was, at this point, what felt like infinite. Everything lost its value."
},
{
"end_time": 8631.613,
"index": 354,
"start_time": 8615.06,
"text": " I couldn't sell shit. Yeah, well, nobody wants to lend. Nobody's lending. Nobody's lending and nobody wanted shit. The value, the value when suddenly our condos were 250 is now worth 10,000 bucks. Literally 20,000. That's what they were doing in the hood. That's what was going on. So"
},
{
"end_time": 8661.084,
"index": 355,
"start_time": 8632.534,
"text": " I was wiped out. This lady, we're trying to do, we're getting our cash out done here. He sent me over this, this new lady that came through, that's really doing well. She's helped me out. She's really supportive in the process. And she's moving money back and forth with me. You know what I'm saying? She's helping put money in my mother's, sending money to, I sent my mother some money to help her out, some money to family members to help them out. Maybe we have money coming through, you know, just to make sure shit is going through. And"
},
{
"end_time": 8674.343,
"index": 356,
"start_time": 8662.295,
"text": " As we're doing this, but I'm broke. And suddenly I can't pay my mortgage. My mortgage was $7,000 a month. I paid my mortgage fine for years. Suddenly I couldn't even pay my mortgage. I mean, this is fucking crazy."
},
{
"end_time": 8705.111,
"index": 357,
"start_time": 8675.401,
"text": " And I'm sitting here, I had to go live with my girlfriend at a house that she had owned on Moreland Avenue. I'm sitting in the house. I'm like, what the fuck is going on? The whole shit is falling apart. It's like 10 o'clock at night. My whole world is fucking falling apart. And as I'm sitting here thinking, I can't get out of this shit. And I've got a bunch of cash outs that are un-renovated. Now I'm thinking, if the feds ever see this shit, I am done. I'm going to fucking prison. I'm like, if they see some shit like this. As I'm doing that,"
},
{
"end_time": 8734.036,
"index": 358,
"start_time": 8705.111,
"text": " The phone rings. 10 o'clock at night. I look over. It's Joseph's lawyer calling me. I'm like, this could not be good. That's all went through my mind. This could not be good. I answered the phone. Hello. Hey DJ, this is John. I think myself you fucking pieces of shit where I'm from. Hey, John, what's going on? Hey, just want to inform you. Joseph just blew his"
},
{
"end_time": 8752.756,
"index": 359,
"start_time": 8734.77,
"text": " Joseph just 45 minutes ago sitting at his desk pulled out a nine millimeter of his drawer and blew his brains out. Why Joe?"
},
{
"end_time": 8781.476,
"index": 360,
"start_time": 8753.763,
"text": " I'm the only one that performed everybody else failed failed. Okay. I wouldn't even thinking that he paid him back. No, he lost like he lost like $50 million in that whole fucking shit. I'm the only one that fucking paid him back. So he loses like $50 million that he killed. Not only did he off himself,"
},
{
"end_time": 8805.538,
"index": 361,
"start_time": 8781.869,
"text": " The only thing that was going through my mind at the time was this is not going to work out well for you. This, whatever is going on here, it was in the air. It was the energy, my nerves. I mean, every instinct I had said, this is not going to work out. So we're still"
},
{
"end_time": 8834.531,
"index": 362,
"start_time": 8806.118,
"text": " We're still doing, doing the deals and I'm working with the chick. She's trying to really push for me, help me assist it. And she says, you know, I'm trying to show her the business. I'm trying to show her how to do the cash out so she could do something on her own. She said, listen, just explain it to me. Show me up. I said, let me show you. She says, just show me the basics. I can really help you. So I'm teaching her how to do the cash out. We're going through the whole process and it's just her and I fighting through. She's like, listen, I got you. We're gonna make this whole thing work. I said, listen, let's just keep pushing this thing through. We're trying to get down. We closed like one, but we're still fighting and fighting and fighting. And"
},
{
"end_time": 8850.23,
"index": 363,
"start_time": 8835.708,
"text": " One night, we're just going through all this shit. It's like, uh, two months after Joe off himself, I'm laying on my girlfriend's couch as I'm laying on the couch. There's a window right here with a curtain."
},
{
"end_time": 8875.401,
"index": 364,
"start_time": 8851.186,
"text": " If you sleep hot at night, you know how disruptive that can be. Whether you're having trouble falling asleep, you're waking up sweating in the middle of the night, or all of the above, that's where GhostBed can help. As the makers of the cool"
},
{
"end_time": 8904.292,
"index": 365,
"start_time": 8875.401,
"text": " Ghost Bed is your go-to for cooling mattresses, cooling pillows, and cooling bedding. From their signature Ghost Ice fabric to patented technology that adjusts to your body's temperature, every Ghost Bed mattress is designed with cooling in mind. So whether you want a plush mattress that cushions your shoulders and hips, or a firm option with exceptional support, your Ghost Bed will keep you cool and comfortable all night long. When you purchase a Ghost Bed mattress, your comfort is guaranteed."
},
{
"end_time": 8930.486,
"index": 366,
"start_time": 8904.292,
"text": " You can try out your mattress for 101 nights risk-free to make sure it's the right fit for you. Plus, they offer free shipping and most items are shipped within 24 hours. If you're not sure which GhostBed is right for you, check out their mattress quiz. You'll answer a few questions and get a personalized recommendation. Even better, our listeners can get 50% off site-wide for a limited time. Just visit ghostbed.com"
},
{
"end_time": 8952.363,
"index": 367,
"start_time": 8930.486,
"text": " Cox and use the code cox at checkout again. That's ghostbed.com Slash cox with the code cox at the checkout to save a whopping 50% off sitewide I go to sleep and something is you know, you kind of that red room between interim sleep between your awake and you're sleeping as I'm laying there I hear"
},
{
"end_time": 8981.101,
"index": 368,
"start_time": 8953.473,
"text": " 5 o'clock in the morning, I'm thinking I need to get up and take my son to school because my kids, me and the girlfriend broke up. I had a son that I would take to school. I'm just kind of thinking to myself, you need to get up and take your students. I'm saying that here. As I heard that, I had this vision. A vision came to me. In this vision, I saw"
},
{
"end_time": 9003.422,
"index": 369,
"start_time": 8984.445,
"text": " men in green flap jackets all across the lawn with M16s that said FBI. That's what I saw in that moment, in that vision. And I woke up, moved the curtain back, and I knew when I moved that curtain back,"
},
{
"end_time": 9021.544,
"index": 370,
"start_time": 9003.797,
"text": " Whatever I see is going to absolutely change my fucking life. It will never be the same. I pulled that fucking curtain back. It was the fucking vision, person for person, crossed the line. What I saw in my head was right there. They were right there. FBI, open up."
},
{
"end_time": 9035.23,
"index": 371,
"start_time": 9021.544,
"text": " Open up. I jumped up, grabbed my shit, ran to the fucking back of the house to go out the back door. I fucking opened the back door. Motherfucker was standing there just like this. I said, oh shit."
},
{
"end_time": 9056.92,
"index": 372,
"start_time": 9036.459,
"text": " The fucking FBI, they come in there, I open the door, they fucking came through the door, grabbed me by my shirt. He looked at me, grabbed me, he grabbed me. He said, listen, I know you're in shock. I didn't even check what's going on. This is what I need you to do for me. You have seconds to fucking do this. White guy, holding glasses, look like a fucking doctor. He fucking told me, he says, listen,"
},
{
"end_time": 9075.486,
"index": 373,
"start_time": 9056.92,
"text": " Where you're going is going to be extremely cold. I need you to get some pants on right now. Get your shoes on right now. Put a sweater on right now. You've got seconds to do this. Where's your clothes at? I'll sit right over in the back. He rushed me to the back. He said, put them on. I'll put them on. He's standing with an M16. This motherfucker's"
},
{
"end_time": 9095.589,
"index": 374,
"start_time": 9075.486,
"text": " Backed up. They're like this. No, they're looking on the hallway. They got Kansas and a sister pushing back. They're like, all right, they put my shit on. I put my shirt on. They said, come on, come on, come on, come on. We get to the face. I put your cuffs on. He says, come on. He said, I'm gonna cuff you in the front. He said, you good? I said, I'm good. He put the cuff in front. Boom, sat me in the car. They put the"
},
{
"end_time": 9125.196,
"index": 375,
"start_time": 9096.169,
"text": " There was not one cop car there. They were just all unmarked cars. We jumped them up. We take off. We take off. We go down to the Russell building. We go to that motherfucker. We go upstairs. It was freezing. We go. It was freezing. He was not lying. We go in that building. We go through the chains. We go downstairs. We go upstairs. We go through the door. We go in this. We sit down. And as we sit down, as I get there, I see my whole team. The lawyer. The lawyer. The appraiser."
},
{
"end_time": 9148.66,
"index": 376,
"start_time": 9125.879,
"text": " I see a couple of people that did docs, could be their paperwork. I think everyone's there. Everyone's right there. And I sit there and they give you a kind of, they give you, it's not the indictment, it's the complaint. And in the complaint, there's quotes in the complaint. So they're sitting there with the complaint, I'm sitting there with the complaint. I'm like, who the fuck did this? How the fuck did this happen?"
},
{
"end_time": 9164.172,
"index": 377,
"start_time": 9149.07,
"text": " I'm like, what the fuck is going on? So one of the mortgage brokers who work with me, smart, polished dude, real sophisticated, polished dude, loves to marry women from Brazil. Who the fuck does that? He loves to do that. Can I say that? That's the story, right?"
},
{
"end_time": 9193.78,
"index": 378,
"start_time": 9164.599,
"text": " He says, dear, we're there. We're all shackled at the knees. We're all there. You know, we're dressed and we're all sitting there like, all right, what the fuck? Pretend we don't know what the fuck is going on. Like, what's going on? They're like, you know, he goes through the shit. He reads it. He's reading a complaint. He's reading a quote in the statement. We're like, who the fuck is that? He looks at me. He says, I know who did this. I said, who? Who the fuck did this? He said, Kim. I said, Kim, my assistant. He says, yes, your assistant."
},
{
"end_time": 9217.09,
"index": 379,
"start_time": 9194.241,
"text": " And then it just went right back through my head. Like just teach me the system. Just show me how to do it. Just move it with the paperwork. Just Kim was wearing a wire to work every day. Kim because I didn't understand how the feds work. I was completely ignorant to it. Kim had an open case."
},
{
"end_time": 9230.776,
"index": 380,
"start_time": 9218.319,
"text": " Kim's open case, which I didn't even know what that meant. She actually told me she had a case with defense. I didn't understand it. I didn't understand how it worked. Kim had to open case with Kim's open case. Kim"
},
{
"end_time": 9251.561,
"index": 381,
"start_time": 9231.288,
"text": " What kind of deal with the FBI? They were actually paying her literally to come work for me. So I'm paying this motherfucker. The FBI is paying this motherfucker. She's wearing a wire to work every day. And she is slowly entrapped me, entrapped me, entrapped me, and trapped me in the process. And sure enough, like she was just documenting your fraud, but"
},
{
"end_time": 9272.142,
"index": 382,
"start_time": 9251.561,
"text": " Go ahead. Actually, I didn't mean to trap me. I meant documenting. She was documenting. That's what I meant. Documenting. I actually didn't mean to trap me. I really meant documenting. So you're right. She is documenting my fraud. So as she documents my fraud, literally,"
},
{
"end_time": 9302.432,
"index": 383,
"start_time": 9273.541,
"text": " She flipped out her case for me and flipped me out for that case. They let her off completely? I think she did. She did three months. Oh, three months. Okay. But no, she had a big case herself. Oh, yeah. She had another case. But she also just knocked off. The whole thing. The whole cruise. Oh, I was a big... You probably, you know what? If Joe, if without her, they're probably, their fear is you could have blamed Joe. I did try to blame Joe. And listen,"
},
{
"end_time": 9317.432,
"index": 384,
"start_time": 9302.756,
"text": " I tell you a funny story. When I went in to debrief with the US attorney, I'm sitting at the conference table, shackled down. This is like after she comes in."
},
{
"end_time": 9341.954,
"index": 385,
"start_time": 9318.063,
"text": " We walk in and I got this whole plan in my head. She walks through the door. She comes through and says, hey, everybody. How's everybody doing? She looks at me and says, Darcy, how are you? I'm like, I'm fine. She goes, good. She says, good. We're about to get started. First, I want to just make a few things clear. We're not blaming this on the dead guy. Oh, shit. I plan to blame the whole thing on Joe. She's off the rip. We're not blaming this on the dead guy. Is this Gale McKenzie?"
},
{
"end_time": 9352.244,
"index": 386,
"start_time": 9342.654,
"text": " No, this is Barbara Neeland. Oh, okay. Did you ever hear of a Barbara Neeland? No, I know Gail Mackenzie was come on. What's his name? Kelsey."
},
{
"end_time": 9373.183,
"index": 387,
"start_time": 9352.807,
"text": " Oh, Kelsey's Kelsey's. Yeah, Kelsey's. That was Kelsey. It was somebody else's too. What I you had Kelsey had somebody else. What's his name? Troy had Troy had Troy had Troy had Troy used to say that she loved him. How did you do his imitation? What? Let me get. How does he sound now? Troy?"
},
{
"end_time": 9402.824,
"index": 388,
"start_time": 9373.183,
"text": " That was how I got busted."
},
{
"end_time": 9433.319,
"index": 389,
"start_time": 9403.609,
"text": " And that was, I thought I would, they told me I was charged with two condos. I looked at my lawyer when he came to see me. I said, uh, can you get this worked out? He said, yeah, I'm going to get this worked out for you. He says, uh, they charge you with two illegal condo cells. I said, all right. He says, yeah, you probably do a little bit of time for that. I said, okay. I said, I said, I said how much he said you might do two years. I said two years."
},
{
"end_time": 9463.643,
"index": 390,
"start_time": 9434.019,
"text": " I said, how the fuck am I going to do two years? Are you fucking kidding me? He says, yeah, two years. Like as he's telling me this in the court for the arraignment, he says, uh, he says, excuse me, could you to my work? He says, hold on. Let me see. I could work. I took him. And the lawyer is looking at me like this. Now while she's talking, he's looking at me. He's going like this, looking at her, looking at me."
},
{
"end_time": 9495.179,
"index": 391,
"start_time": 9465.469,
"text": " I'm like, you know, it's like what he's like looking at looking at me. He's like, and she's in his area. He walks back over like deflated and shit. He's just looking at me like I'm dead man walking. And he says, okay, it's two condos. What you have was called a superseding indictment. I say, what the fuck is that? He says, apparently you've owned a lot of property."
},
{
"end_time": 9523.148,
"index": 392,
"start_time": 9495.981,
"text": " And apparently you've sold a lot of condos. They've got your money count right now at 30 million. And I'm sitting here like, okay, what does this mean? You could get like 20 years. I'm like, what? 20 years? What the fuck are you talking about? He says 20 years. He says, yeah. He says, you can get like 20. He says, I said, well, how much are you really going to give me?"
},
{
"end_time": 9532.415,
"index": 393,
"start_time": 9524.462,
"text": " When you're in a situation,"
},
{
"end_time": 9559.65,
"index": 394,
"start_time": 9532.79,
"text": " That's the thing about crime, especially when you're committing crimes and you know, some of us we're in denial about like you just said when I said entrapment, which is not right without the term I meant to use. But the point is, is that you really don't realize a you're a fucking criminal number one and be the consequences are brutal. The consequences are unspeakable. And you keep thinking, you know, so the moment you get away with it,"
},
{
"end_time": 9586.749,
"index": 395,
"start_time": 9559.889,
"text": " I think that one's done got away with it. No, no, no, you didn't get away with it for now. And you forget about it. And then when they come to you and they catch you for this one that you know, they have you for and then they stack everything else up. You're like, oh, forgot about that. Oh, forgot about that. Oh, forgot. Next thing, you know, you start to realize like, oh, no, this is getting bad. I thought I got away with those. That was over a year ago. That was two years ago."
},
{
"end_time": 9614.36,
"index": 396,
"start_time": 9587.568,
"text": " Right. And next thing you know, it's overwhelming and your lawyers trying to convince you how much trouble you're in. You're thinking, I just filled out some paperwork. I say that all the time. Colby hears me say that like, how can I get 26 years? I just filled out some paperwork. It seems innocent. It does. I didn't hurt anybody. I didn't kill anybody. I didn't do it, you know, but you know, it's, it's, it's, you know, I love it when people white collar criminals don't get any don't get any time."
},
{
"end_time": 9643.763,
"index": 397,
"start_time": 9614.633,
"text": " No, they get a ton of time. They typically cooperate. They get decent lawyers. They try and talk it down. They try and whittle it down. If you're lucky, you can cooperate against a bunch of people. You can get your 20 years whittled down to four years or something if you're lucky. But if you're not lucky, then they'll crush you and they make you sound like a monster. You're a monster. But the truth is if you sit there and lay down exactly what you did to the average person, they're like,"
},
{
"end_time": 9671.732,
"index": 398,
"start_time": 9644.326,
"text": " That's why we're here. Listen, not only that, let me tell you to the degree that everybody was doing this and I'm saying that as a cliche. I just want to tell you this quick thing. I told this story at seminars. I'm in jail waiting to get sentenced, right?"
},
{
"end_time": 9696.544,
"index": 399,
"start_time": 9672.193,
"text": " I'm going back and forth to court, right? Why would I be going back and forth to court in the feds, but I'm going back and forth to court with jail, right? It's hard to explain to the drug dealers and everybody in the US. My lawyer again. So I'm going back and forth to court. I'm all over the fucking news. I'm going to jail."
},
{
"end_time": 9724.121,
"index": 400,
"start_time": 9697.193,
"text": " I'm going to prison. Like these motherfuckers have me as a pariah. You know what I mean? I'm going to jail. I gotta go to court. I'm sitting there like, God, I'm hoping now reality is set in. I'm hoping and praying for 10 years. This is where we're at. The motherfuckers around me in the jail. I was in there getting 30, 40, 45. I'm like, oh,"
},
{
"end_time": 9754.548,
"index": 401,
"start_time": 9725.606,
"text": " And you're thinking to yourself, what have I done to myself? So they come, Richard, you got to go to court. I'm like, all right, I'll start walking out. Do it. I hear the girls in front. Fuck you going, Richard. You know, I'm going to court, right? I'm going to court. So they take me downstairs. They take me downstairs as I'm coming downstairs to go to court. You have to walk through the tunnel at Lovejoy. I could come through. There's a van that pulls up when the van"
},
{
"end_time": 9785.026,
"index": 402,
"start_time": 9755.384,
"text": " pulls up, two marshals come out, vest, tie, what is a woman, maybe about five foot, two? Another guy comes through, comes out as well too, you know, with a blue jackets, the blazers, as she comes through, she says, face the wall. I'm like, all right, I've turned around the wall, chain goes around your waist, chain goes around your ankles, chain goes around your hand, they put me in the van, they're riding, as they're riding, they're driving, I'm sitting in, shackled, on my way to court, the marshal"
},
{
"end_time": 9813.422,
"index": 403,
"start_time": 9785.776,
"text": " She looks at me from the back, turns around and looks at me once, thinking nothing of it. We're still driving the car. She looks at me again and makes eye contact again and then turns around real quick again. So I'm thinking nothing of it. We go in, we go into the building, go through downstairs where the courts are, take me upstairs to the jail, take me upstairs, walk down to my home, open up the big steel door, put me in there, open the cage, put me in there, I'm shackled, take the cuffs off, I'm shackled by the legs, die and I'm waiting to go to court."
},
{
"end_time": 9844.189,
"index": 404,
"start_time": 9814.343,
"text": " I said, I'm waiting to go to court. They have their own marshals in the prison that actually take you up to court. These are the transport marshals. So I'm sitting here waiting to go to court, but I'm behind the gate, behind the steel door in the jail. So it's a cage within a cell and another cage in it. But you can't see on the other side. I hear somebody say, but you can hear, hey, where's Richards? I'm looking for Richards. They want him upstairs in court. I said, okay. I hear, I hear someone say, a woman's voice says,"
},
{
"end_time": 9863.029,
"index": 405,
"start_time": 9844.599,
"text": " She says, I'll take him. I'll take him. Where's he at? Okay, I hit a pause. He's right over here. So door opens up. The Marshall comes out. The Marshall comes in the same woman again. She looks at me. She goes, Richard,"
},
{
"end_time": 9888.456,
"index": 406,
"start_time": 9864.002,
"text": " Come on, you got to go to court. Get up shackles on. She has me face to come out, come out the cage. The other marches standing by the door. She puts again, chain around thing, put the handcuffs on. She starts walking me out. She says, as we walking out walking down the hallway, this white star hallway, there's an elevator at the end, which takes you upstairs to the court. As she takes two steps, she looks at the other marches. I got him. I'll take him from here. He says, all right."
},
{
"end_time": 9915.572,
"index": 407,
"start_time": 9889.138,
"text": " So now it's her and I walking down the white hallway. We're walking down the hall, walking down the hall. We get to the hallway. She opened up the door. I've been here so many times. I already know walking the elevator face the wall. Don't turn around as we go in her and I go into the elevator. Now something's rubbing me as weird about this whole thing. Just why am I seeing the transport Marshall again?"
},
{
"end_time": 9944.445,
"index": 408,
"start_time": 9916.186,
"text": " Why am I in this hall by myself? I step on it and the elevator comes. The elevator opens up. She says, step in. I step in. Boom, I'm facing the wall. I'm looking at the wall. She's standing by me. She hits the button. As we're going, as we're going up towards her, as we're going, as we're going, she hits another button. The elevator stops. I'm like, what the fuck? She says, Richards, turn around."
},
{
"end_time": 9974.377,
"index": 409,
"start_time": 9944.94,
"text": " I turn around, I'm looking at, now I'm looking at her. It's the same bitch from the fucking, she says, Richard, turn around, turn around. She looks at me, she says, Richard, listen, really quick. I don't have much time. I have two deals at my attorney's office about to close. We're having, we have equity on the table. I need you to show me how do you get the cash out of the equity? How do you actually extrapolate the cash off the deal? What type of paperwork do you file?"
},
{
"end_time": 10004.633,
"index": 410,
"start_time": 9974.906,
"text": " I think I said this is got to be a fucking setup, right? This is gotta be a I'm like, I'm like, what the fuck is going on? So I'm sitting here. I'm playing the cool. I'm looking at I'm like, is this real? She looks at me. I look at how I said, I'd love to help you. I really would. I just can't. She said riches. I'm not setting you up. I know that's the fuck you're thinking. I just got a deal. I need to get this $40,000 off the deal. I can't do it."
},
{
"end_time": 10026.903,
"index": 411,
"start_time": 10005.811,
"text": " There's no problem, Richard. Turn around and face the wall. Turn around. And we start walking off to the court. This is to the degree of how this everybody, everybody, everybody, everybody,"
},
{
"end_time": 10043.473,
"index": 412,
"start_time": 10027.261,
"text": " I have done fraudulent loans for lawyers, for police officers, for doctors, for like everybody out there that you could think I did that you would think"
},
{
"end_time": 10072.654,
"index": 413,
"start_time": 10043.933,
"text": " Cops not going to do a dirty deal the fuck they won't not only he doing a deal. He's getting his wife to do the deal. You know, we're doing multiple types of deal a lawyer is not going to do I had a lawyer we pulled out like 60 or 80 grand out of the deal. So he's bringing money. We close we pull out a hundred so he can get his down payment back and we give him like 60,000 dollars. I mean completely fraudulent you same thing doctor exact same type of situation like I've done so many corrupt deals."
},
{
"end_time": 10095.657,
"index": 414,
"start_time": 10072.978,
"text": " It for people that you'd be like that a lawyer wouldn't do that. Yeah, they would say what I was in in prison with with guys in prison and explaining what are you talking about? Everybody was doing this and they're like and I like it didn't want for a lawyer one time and the guy was like a lawyer wouldn't do this like you're talking you were in prison right now. You just got done telling me how your lawyer fucked you."
},
{
"end_time": 10111.578,
"index": 415,
"start_time": 10095.998,
"text": " Yeah, it was everybody. Everybody across the board was doing it. Everybody. Well, you know, I mean, whatever. No, no, no, but literally, no, no. In this particular case, in the real estate business, it really, it really was everybody like the opportunity. Well, I think there was just so much money involved."
},
{
"end_time": 10142.005,
"index": 416,
"start_time": 10112.449,
"text": " There was just imagine at that time to the whole economy is collapsing. So she's desperate. She had to be desperate to stop in the elevator and have that come or stop in the other. I just knew and the truth is I really wanted to help her out. Yeah, you know I'm saying because I understood I understood the situation but there was just no way. Yeah, I was in the medium one time and this is what wasn't fraud. It was literally it's like 8 o'clock at night. I'm at the medium."
},
{
"end_time": 10161.698,
"index": 417,
"start_time": 10142.398,
"text": " Cop walks in, you know, everybody's locked in. This is the medium two tiers. They're watching TV, top walks in, looks around, he goes cocks. You know, it looks at you and I walk out. I'm like, yeah, what's up? He goes, come here is come here. I'm like, well, what's going on? Like, nobody leaves at eight o'clock eight or eight. It's like, it was like probably eight or nine at nine. Let's say it's eight late."
},
{
"end_time": 10183.882,
"index": 418,
"start_time": 10162.312,
"text": " They're at 10 o'clock count right now. So I'm walking he goes come here and I'm like, what's up? He walks over the door. It's got the salary port. He opens one walks in closes it opens the other door. I'm like what's going on is just walk down to where it to a unit which one a 1a to it go to the a units the building and I'm like go I'm like I walk down to I'm"
},
{
"end_time": 10211.647,
"index": 419,
"start_time": 10184.104,
"text": " It's fucking dark, bro. I've never been out. I'm scared. I've never been outside when it's dark. I walked down from I was in B unit. I walked down and there's a couple of CEOs down there and I'm walking up. Listen, I was actually praying. It was like the fucking FBI or something like they needed to ask me a question. I was like, please let me get out of here. I walk down there. I walk up and the cop he is Cox and I'm like, yeah, what's up? What's up? And he goes, all right, listen,"
},
{
"end_time": 10236.118,
"index": 420,
"start_time": 10212.278,
"text": " He said, I'm looking at a condo. I'm looking at a townhouse right now. It's going for 195,000 the entire complex. He said a half of them are in foreclosure, but this one's finished. So and I'm like, okay, and he explains the whole thing and I go how many of them are actually owner-occupied cell are sold and occupied by great question and not great question. And he's like, oh this many of these like I could put down the 20%. I'm like, he's like, what is it worth it? I'm like,"
},
{
"end_time": 10252.227,
"index": 421,
"start_time": 10236.374,
"text": " This is Andy do frame doing all the fucking guys taxes for right and and I'm teaching the real estate class like"
},
{
"end_time": 10281.783,
"index": 422,
"start_time": 10252.858,
"text": " This would be hilarious if I wasn't the guy in prison, right? Right. But yeah, we talked until almost 10 o'clock and he was like and the other guys are asking questions and they're like, all right, listen, you got to go back and be you guys got to be counted at 10 o'clock. So they they walked me back and I just remember thinking like it is it's surreal. It is surreal happening and I just and I don't know if you had this revelation, but what I realized and I really realized at that point too and"
},
{
"end_time": 10309.326,
"index": 423,
"start_time": 10282.585,
"text": " You know, sometimes when you do the bullshit like crime, you really realize, you know, with the resources I had legitimately, I could have really repurposed this to really create another business or another helping people, giving people information, helping to get it because the truth is they really those cops were looking for information all the time about how to do business, how to run the day. You know, the other thing because you've done because you did"
},
{
"end_time": 10327.022,
"index": 424,
"start_time": 10309.701,
"text": " All the flip in the contract because you had given all the things you've done you went from the most basic type of mortgage deal all the way up through through the most complicated right you're taking you're taking."
},
{
"end_time": 10352.824,
"index": 425,
"start_time": 10327.722,
"text": " Apartments that are zoned as apartments and you're turning them into condominium. So you're you're going through the rezoning process. You're going through all the things that make this thing an individual unit. You're you're having to get them insured. You're having to do right up the condo documents. You're this is extremely complicated. So you've gone from one extreme to the other most real estate agents who everybody considers"
},
{
"end_time": 10377.739,
"index": 426,
"start_time": 10352.824,
"text": " The expert, you know what they've done? They went to school, they passed their test. And now what they do is they go, well, what's the address? And they drive that person to the house and then they put them in the back of the car and they get them out of the car and they walk over and they punch in the code to the lock box. They open the door, they go, this is a lovely two bedroom or the three bedroom. They show them the place, they walk back and they go, oh, I love it. They write up a contract and that's all they know."
},
{
"end_time": 10401.391,
"index": 427,
"start_time": 10377.927,
"text": " They don't know anything other than I show a house I write up a contract if you said hey can we do a simultaneous closing on this I'm sorry what hey can we do an owner a second mortgage hold back I'm sorry I don't know what that means could are these people willing to do owner financing I don't understand what you're saying like all of the can we do a wraparound mortgage they don't have the ability to know"
},
{
"end_time": 10430.742,
"index": 428,
"start_time": 10401.391,
"text": " Any aspect of anything other than the one single thing they've been taught, but they're the experts but someone like you because you've gone from knocking on doors all the way up to the very top. I would say the only other thing as far as residential real estate would have been new construction of the condos themselves, which you'd already done the rezoning you were already in the process of that other than that. I would say there's nothing"
},
{
"end_time": 10453.78,
"index": 429,
"start_time": 10431.374,
"text": " That that you have it and really the renovations are practically that's practically new construction on some of these things. But anyway, it's funny the amount of knowledge that I had and that you have and I know because we've had these conversations. If you said, hey, can we write this deal up? We're going to borrow the money. Can we have a take down clause?"
},
{
"end_time": 10480.606,
"index": 430,
"start_time": 10453.951,
"text": " You ask a realtor they don't have a clue what that is right, you know, so what's funny is knowing all that whole gambit gives you such a wealth of information that you could have that you could you could utilize to your advantage. There's just there's there aren't people out there to answer those questions and the people they think are experts aren't experts aren't aren't experts at all. And the thing is most of them you go to a normal"
},
{
"end_time": 10504.633,
"index": 431,
"start_time": 10481.203,
"text": " Normal real estate agent you ask them. How do I get this deal done all that will go to your bank? You know, I know my bank has said no, right? I'm sorry where you can sit there and say hey, can you get the seller to hold back the second mortgage? Can you get an owner finance? Can we do a wraparound mortgage? Does he currently have a mortgage? Can we do a subject to loan like, you know, can he pay my cake? You know, how much money do you have now? Okay, you could do this and all of these are legal right instruments."
},
{
"end_time": 10522.602,
"index": 432,
"start_time": 10505.162,
"text": " To buy the house real estate agent doesn't know. No, not at all. They're clueless. They didn't think like that. No, no, that's too complicated. It's not too complicated owner-finance deals are the easiest, right? They are the easiest. They are they are they are the easiest and to that point it really it really"
},
{
"end_time": 10547.705,
"index": 433,
"start_time": 10523.183,
"text": " You know, like I tell you all the time, the beautiful thing about real estate and opportunity real estate, it allows virtually anyone to do a billion dollars with the real estate outside of someone's door within our city. And there are opportunities to play in it at some level, whether it's a house or office property or strip mall. And it's one of the few opportunities where you're not going to be able to go in and buy a company. You know what I mean? Just like that person. Well, you can. But the point is that real estate is right here. It's local. It's where anyone"
},
{
"end_time": 10575.691,
"index": 434,
"start_time": 10548.08,
"text": " Can play the anybody has access access. It's a crack deal guy. He's a draft out of high school has very little education as sold has gone to prison has gotten out. If he has enough knowledge can become a multi-millionaire would never get licensed. Right. You don't have to be licensed. No, if I forget license hurt you in terms of that process of though. Yeah, because you it opens you up the liability and disclosures, you know, a lot of people in prison."
},
{
"end_time": 10603.763,
"index": 435,
"start_time": 10576.118,
"text": " I'm not a lot but you had segments of these young guys that were like out of Miami those things like that. They were so rock and just buying little houses with the extra money that they had that they bought. They had three four property like 24 25 years old three four houses that they own that these have to buy and just was with the extra crack money that they had where they had them where they were going free and clear houses, which I saw a few guys with that as well from the classes that um that um taught across the um across the um board but the idea is you know"
},
{
"end_time": 10634.718,
"index": 436,
"start_time": 10604.855,
"text": " Look, when I got sentenced, when I got sentenced, ultimately, I got sentenced. I got nine and a half years in prison. Might as well rind up. Might as well rind up. No, it's actually, I did not, it actually was nine years. I did doing six and a half years in prison. You know, prison literally, literally, you know, my life was pre-prison, then after prison. But prison actually was one of the more enlightening,"
},
{
"end_time": 10659.889,
"index": 437,
"start_time": 10635.828,
"text": " Uh, you know, this is saying you got to meet me. I got to meet you. Listen, that was a high of it. But prison really, really sounds crazy. But prison worked for me because you get that point in your life where you need a different level of understanding in terms about yourself in terms about your bullshit about back to the con man thing."
},
{
"end_time": 10685.35,
"index": 438,
"start_time": 10660.555,
"text": " No, but it was interesting when we did meet in prison, but the thing like I tell people all the time, I thought was really see here's the thing and"
},
{
"end_time": 10713.422,
"index": 439,
"start_time": 10686.903,
"text": " About interesting people in prison and really learning from people in prison. I thought what I thought was really interesting about you and I tell people this all the time was just how you had everyone engaged that and that's what I thought was important just a whole engagement of keeping everyone engaged and then sharing the ideas at the end of the day. We were constantly evolving sharing ideas sharing thoughts."
},
{
"end_time": 10727.278,
"index": 440,
"start_time": 10713.729,
"text": " And okay, you know, I had smart rooms. You had Trommelville. That's not that's a lie. That is not what happened. That is not what happened. Listen. No, I'm not going to let you do that. Listen."
},
{
"end_time": 10753.422,
"index": 441,
"start_time": 10728.422,
"text": " People would ask me what would you invest in and like if you were getting out of prison like what would you invest in and I was teaching the real estate class and I used to tell people look because this is an entry level anybody could do it right like we talked about this earlier. I mean, I know it wasn't on on on this but it was earlier and it was like look it you know, some of these guys would teach these little classes right where they talk about like, you know here how do you build a mall?"
},
{
"end_time": 10782.568,
"index": 442,
"start_time": 10753.729,
"text": " build a mall. This guy's never had a job or he's the best job most he's ever worked is like he was a busboy and then he started selling drugs or he was robbing banks or whatever like he's not going to build a mall. So don't try and teach this guy how to build commercial buildings like what is accessible to everyone is buying a single family home. And so what I was teaching people was like look buy a single family home and actually I'm gonna tell you how this went wrong for me once. It was I was teaching the"
},
{
"end_time": 10806.613,
"index": 443,
"start_time": 10782.961,
"text": " Real estate guy because one of the last classes we did I said, hey, you can get out save up 5% get yourself your credit in good shape and you can buy a house owner occupied owner occupied, you know, maybe you do move in it. Maybe you move in whatever so your intent is to move in right you buy the property for let's say a hundred thousand. I know that's a that's a round number. What it may be 300,000. Maybe it's whatever."
},
{
"end_time": 10822.056,
"index": 444,
"start_time": 10806.834,
"text": " So you buy a house for $100,000 put $5,000 down get the owner to pay some of your closing costs, whatever, however, the deal works. So for five grand down and good credit, you can buy a house. You turn the living room and dining room into bedrooms, right? Put up a wall cost you a thousand bucks."
},
{
"end_time": 10842.432,
"index": 445,
"start_time": 10822.722,
"text": " You know, put that so now you can rent out all five rooms for I used to say 150 bucks. I mean, that would be probably a couple hundred bucks. What are you charged right now? So weekly weekly, we dive towards about $200 weekly 800 monthly. There's a bathroom like a master bedroom, right? They are is 250 a week a thousand a month. Okay. So back then I was saying like 150 because this was"
},
{
"end_time": 10863.37,
"index": 446,
"start_time": 10842.432,
"text": " 10 years ago, so I would say that and then we do that. I do the math for them, you know, boom. Here's your mortgage payment. Here's taxes insurance. Here's what the electric is because you have to pay the entire bill. You know, you go we go through the whole thing and then I tell how much and these things are making between 1500 to $2,200. I mean, they're making a huge profit. Sure. That was at a buck 50. I know yours is a lot more profitable."
},
{
"end_time": 10893.66,
"index": 447,
"start_time": 10863.66,
"text": " But that was back then I would explain all that to them and and I would say you could buy one and then it doesn't take long for you to be able to buy another one and another one and I had like kind of like a three-year plan like it's it's getting rich slowly right well I would explain that but the thing is a lot of guys would say stuff like you know yeah but in there a lot of turnover about yeah initially there's going to be some turnover but you're going to get guys that are going to be if you these aren't these I wasn't suggesting you build you know or sorry rent out"
},
{
"end_time": 10915.418,
"index": 448,
"start_time": 10893.865,
"text": " slums right these are good clean room sure so where they're safe and secure and so i i would explain that and and i would say look if you if you're concerned about high turnover and that is when i said what you might want to think about is all these chomos here and i'm in a class and there's shows in the class i'm like these guys have nowhere to go"
},
{
"end_time": 10940.213,
"index": 449,
"start_time": 10915.725,
"text": " You know, they were getting out of prison and they had nowhere to go. These guys are sleeping in tents behind Walmart. I'm like what you do is you could rent to them because when they move in, they'll never leave. Nobody wants to rent to them. If you're willing to rent to them, you could rent to them. And so listen the and I would say I go and you can charge them a premium like you can charge them more than the hundred bucks you put on 150 is these guys are smart and"
},
{
"end_time": 10957.858,
"index": 450,
"start_time": 10940.213,
"text": " They're not really criminals they're perverts right but they'll get a job because they don't want to go back to prison they're smart enough to know i'm not going back to prison i'm terrified i didn't have a good time so they'll even though this guy's got a master's degree he'll lay drywall because he doesn't want to go back so i suggested that and that turned into"
},
{
"end_time": 10982.09,
"index": 451,
"start_time": 10958.37,
"text": " showville showville showville showville showville showville showville showville showville showville showville showville showville showville"
},
{
"end_time": 11010.913,
"index": 452,
"start_time": 10982.722,
"text": " But the concept initially rooming house and then you came in when I had explained I remember to I'll remember I remember this when I said listen and what you could you could do you could run into the chose. I'll never forget that look of disgust on Dawsey's face. He was like what? I'm not going to do that. It was just disgusted that I would even suggest it and like I was talking earlier. I rent to chose to chose now now. Yeah, I rented that but I think I"
},
{
"end_time": 11040.845,
"index": 453,
"start_time": 11011.647,
"text": " I think when you said it to me, I was thinking, but again, I still shouldn't be discussing. I didn't understand the market. Exclusively a choke me, but choke communities make money. They do. They have what's called proximity. So they have to be a certain number of feet, a thousand feet from schools, churches, churches. I never understood the churches, the schools, churches, the schools, churches, but I, but I, we went, I rented them now in, um,"
},
{
"end_time": 11061.049,
"index": 454,
"start_time": 11041.442,
"text": " I remember so we had this whole conversation multiple times. And that was just one aspect by the way that wasn't my whole goal. But then I remember six months later somebody comes up to me and says yo, bro."
},
{
"end_time": 11076.51,
"index": 455,
"start_time": 11062.056,
"text": " Have you have you seen a business plan written up? Dawsey's business plan. Yeah, bro. He's doing this whole smart homes thing. I don't know if you call this smart rooms, smart rooms, whatever, you know, whatever it was and I was like, what do you mean?"
},
{
"end_time": 11097.125,
"index": 456,
"start_time": 11077.022,
"text": " And he said yeah, yeah, he's talking about but you were building you would all he'd already gotten a guy. He got a guy who was a Charlie. He was in your unit was he? No, no, he wasn't a unit. He wasn't my dude. He was the he was a charlie a draftsman or an architect. Yeah, he was good too. He had a whole he had the whole thing about doing it with houses at that time doing with a high rise."
},
{
"end_time": 11115.247,
"index": 457,
"start_time": 11097.125,
"text": " He's talking about building. Yeah, it was a high rise. Yeah, it was a high rise that we did. He had. Remember that? Yes, you had. Yeah, we had plans. We have pictures drawn out the whole thing. Yeah, we're in there fucking with. What is this? Oh, smart rooms."
},
{
"end_time": 11137.295,
"index": 458,
"start_time": 11115.759,
"text": " We bumped into him and he just he just took my little nugget of an idea and ballooned it and threw steroids on it and boom, it's blown up into something completely different. And I remember thinking, you know, okay, well, you know, we'll see what happens with that. And then later I get out of prison and I get out of prison."
},
{
"end_time": 11156.271,
"index": 459,
"start_time": 11137.892,
"text": " He's got a website. He's got multiple homes. I'm talking to him on the phone. He's walking through the place. So yeah, I'm in one right now. We're renovating right now. Look at this. And I'm like, and he's on probation. We're on probation. You know, the thing was, was that I was sitting in prison."
},
{
"end_time": 11183.251,
"index": 460,
"start_time": 11158.183,
"text": " I mean, I never liked being in prison. But when I would sit in prison at Coleman, I would sit there. And the thing I noticed in prison was two things, which I thought was strange. I was never bored in prison. I'm thinking, well, I thought you go to prison, you get bored. I was never bored. I was never bored. And there was always someone for me to talk to. And then we had the cubes, the rooms, I was able to go to people's cubes, I was able to"
},
{
"end_time": 11211.903,
"index": 461,
"start_time": 11183.251,
"text": " asked them for food. I was able to move out. I was hitting people for food. I was able to move back and forth. And I thought to myself, how come these communities that we have here in prison, how come they don't have these in the street? There you had the TV room. You had the microwave room, people cooking. We had the shit. We laughed in my cube day and night, night and day. And it worked. It was functional. It flowed. It made perfect sense. And it was the real thing because we had these focus groups in prison."
},
{
"end_time": 11224.923,
"index": 462,
"start_time": 11212.346,
"text": " it when i would read the wall street journal i would read about housing prices and then we studied the median average income coming it made no sense how the hell is the rent approaching at that time is maybe approaching 17 1800 nationally"
},
{
"end_time": 11244.326,
"index": 463,
"start_time": 11225.128,
"text": " How are you going to pay rent or mortgage? Shared housing is residential housing. This is, and again, back to your point when you can have, now we have houses where"
},
{
"end_time": 11272.142,
"index": 464,
"start_time": 11244.65,
"text": " You could have literally seven, eight, nine, in some cases, 10 bedrooms in one house. You have 10 bedrooms in one house. If you're renting $700 a room, that's $7,000 a month coming in. What's that? $82,000 a year, if I'm not mistaken, coming in yearly from a house in the hood. And if you rented that house as a single-family house, you'd make $3,000, $3,500, $4,000, $5,000. You maybe, maybe make a profit of $300 a month. Maybe, maybe."
},
{
"end_time": 11298.183,
"index": 465,
"start_time": 11272.415,
"text": " And you get one bad tenant, that's all wiped out. Yeah, yeah, because now you renovate it, put it back on the market. It's at least a month to two months before it's renovated. When I have landlords come to me and they're running out of single family, it makes absolutely no sense. Why would you buy a house where you're making $300? Mind you, one bad tenant can kill your positive cash flow for what, two years easy. But that's what's great about"
},
{
"end_time": 11328.183,
"index": 466,
"start_time": 11298.183,
"text": " You're taking a loser rental property, which is a single-family home and you're turning it into an extremely profitable one and it's not just profitable. It's never vacant. It's not breaking because all five or six of those tenants are not moving out at the same time and they rent out quick quick like people think. Oh, how do you get a boat? It's easy. You can put a sign in the front yard. You could run an ad in and crisis. I had a buddy you already know this so this is really just for people because you already know this."
},
{
"end_time": 11354.684,
"index": 467,
"start_time": 11328.626,
"text": " I had a buddy when I was in the halfway house. I worked for him at the gym and I was telling him, bro, he's like, I was like, listen, because he was like, man, we got to do something we got to I was like, absolutely. Like, you got about six months with me. So utilize me. What do you want to do? We want to flip houses, you want to do whatever. And and he was I was he was like, what would you do? I was like, if I was you, let's go buy some rehabs, right? You've got the money. Let's buy some rehabs. We'll renovate them to make them rooming houses and we'll rent them out."
},
{
"end_time": 11384.974,
"index": 468,
"start_time": 11355.401,
"text": " Um, that didn't work out because I gave him stomach the fact that he didn't want he didn't want to do it like he didn't want to get his hands dirty. He don't want to get dirt under his nails. He said raised rich whatever. Um, but I explained him and he was when I told him the concept and did the numbers for him. He was like, bro. I don't I know that you know, but nobody's nobody's going to rent a room, right? I was like, listen, you grew up in Avila Avila. Your house was bought the minimum house. You could build 5000 square feet."
},
{
"end_time": 11409.36,
"index": 469,
"start_time": 11385.247,
"text": " It's a fucking one and two three million dollar house. You've never not had a brand new car like you don't understand people do rent rooms. And and so I'm explaining this to him. I said you want let's do this. Let's put an ad on Craigslist. Right. So we created a little ad about renting a room for like 175 a week 175 for your deposit."
},
{
"end_time": 11438.063,
"index": 470,
"start_time": 11409.753,
"text": " And then we put it up and he was picking the pictures that he uploaded. He was trying to pick like nice nice rooms. I was like, what are you doing, bro? That's like a model home, right? No, let's find one that looks like oh there this one looks like a the bed's not made. It's thrown together like almost like a kid's room. Put that one up. He's like nobody's going to rent that. I was like exactly you're saying this doesn't work. I shit you not within an hour. No within two hours. He got 20 phone calls. Absolutely. He had to take it down. Absolutely. They don't want to see it."
},
{
"end_time": 11449.155,
"index": 471,
"start_time": 11438.063,
"text": " I'll take the room. I'll take the room. I don't even have to sit down. I'm sorry. He just started telling everybody sorry. I already rented it. Damn man. I just seen it too. You got anything else? He couldn't believe it. Absolutely."
},
{
"end_time": 11475.094,
"index": 472,
"start_time": 11449.445,
"text": " I have a room brokering program where we actually broker rooms for other landlords. So what we do is that I show people how to take landlords who want to get into the rooming business, like your buddy, and how to bring landlords and peer them together. And we take commissions and fees and so forth and so on. But literally, you could like, of every room, you make $1,000, $1,200 on the front. Literally,"
},
{
"end_time": 11502.108,
"index": 473,
"start_time": 11475.811,
"text": " People will send money to my website. All they do is look online, pick a room. Literally, they'll send me thousands of dollars per week just from looking at the rooms online. Another way that they do it is people will call me. Hey, I'm looking for a room. I need to move. These are people with SSI, Social Security, working class. These are people that are some of them professionals and literally very often just send them a video of the room. That's it. Send me a thousand bucks."
},
{
"end_time": 11530.503,
"index": 474,
"start_time": 11502.722,
"text": " Yeah, it's so limited on their ability to find something that inexpensive that that they have to take them because if you think about if you're trying to live somewhere for $200 a week, where are you going to go for 200 bucks? You're not absolutely if you can find it. It's like I'll take it."
},
{
"end_time": 11554.189,
"index": 475,
"start_time": 11531.288,
"text": " And there's 100 million Americans that make $400 to $500 a week. That's what they're making. So all they can afford is $200 a week. There are literally 100 million Americans are in some type of roommate arrangement. It could be with your wife. It could be with family. It could be with a shared housing. It could be at a college dorm. It could be seniors. Senior housing, $3,000 a month."
},
{
"end_time": 11581.988,
"index": 476,
"start_time": 11554.462,
"text": " is what their senior housing is paying on average nationally and they're backed up three years. Backed up three years. People are looking for housing. There are subdivisions where they used to kind of be, people couldn't have guests. You go to subdivisions today, you'll see cars double parked lined up throughout the subdivision because people are cramming into homes today. Now, the idea is taking houses, converting them into multi units. The house becomes an apartment building."
},
{
"end_time": 11608.319,
"index": 477,
"start_time": 11582.329,
"text": " Literally, you know, I mean, you know, it's a that housing is an issue. Well, one Inflations just crush people, right? So but you know, it's a it's an issue when like in Cali in LA in Tampa and a lot of the zoning is now allowing. Yes. Absolutely. Absolutely. Absolutely. Absolutely. Absolutely. Well, this is a housing mandate."
},
{
"end_time": 11623.695,
"index": 478,
"start_time": 11608.712,
"text": " There's a housing that even code enforcement comes into properties. I have a lot of landlords that I who I do their rentals with where we do multi rooms. They'll say to me hey code enforcement came by code enforcement. I've come all the time. Don't worry about code enforcement. Their main concern is"
},
{
"end_time": 11654.138,
"index": 479,
"start_time": 11624.241,
"text": " Are you treating the tenants? Well, right, but they'll never have a problem with you providing housing because that's where the mandate is going. They have to can't run us. It can't be a slum. You can't know that all and they want you to keep the tenants. They just want to make sure the tenants are in and there was a time where it was a different story. But today they want people in houses in yours, especially people that are that are that are in the affordable housing space, but there's money in affordable housing. A lot of money in it. There's a lot of money in it. They need to get these rooms."
},
{
"end_time": 11675.316,
"index": 480,
"start_time": 11654.138,
"text": " and again like you said we're taking basements will be the house will be 1500 square feet in a footprint we have a 1500 square foot basement literally in the basement will create literally seven rooms so if someone's basement at 800 a room you have seven what's that four seven times eight times that was at 49 so you're getting four thousand nine hundred dollars a month just from the basement"
},
{
"end_time": 11694.104,
"index": 481,
"start_time": 11675.947,
"text": " You still have the upstairs, we have the living room that you could convert the housing to a rentable room. You have the dining room you can convert to a cash flowing room. It has three bedrooms. You're still picking up all those rooms you could build in bathrooms and literally the cash flow is unreal that comes from these units. So that's really where we're putting people into. We're showing people, listen,"
},
{
"end_time": 11723.319,
"index": 482,
"start_time": 11694.462,
"text": " You don't have to worry about buying a multifamily. Like you said, they're not buying a $2-3 million multifamily. They're not doing some of those crazy ass deals that I was doing. But literally, you can take a house these days with the cash flow room system and you could turn it into a multi-unit cash flowing property. Each room is a cash flowing furnished room. So now the rooms act like an apartment giving you multi-units of cash flow. And that's how you build real wealth. I was going to say,"
},
{
"end_time": 11752.705,
"index": 483,
"start_time": 11723.831,
"text": " Right now, if you wanted to buy, you know, 150 room or unit apartment complex, well, you have to have, you have to have taxes for three years showing that you've done this before, that you know what you're doing, you have to buy a property that can prove that it can pay for it. Like the the level of the entry level, there is no entry level to that. It's like the average person can't do it. But"
},
{
"end_time": 11775.452,
"index": 484,
"start_time": 11753.319,
"text": " but residential mortgages are extremely available for the average possible so if you're thinking hey I work at I work at Walmart as a as an assistant manager and I make you know whatever $55,000 a year well guess what you can start buying two or three single family a year just by going to the bank absolutely buy them"
},
{
"end_time": 11804.701,
"index": 485,
"start_time": 11775.828,
"text": " Turn them into rooming houses. One, two, three, three years later, you quit your job. I quit my job and then just live off of that. I've got people putting up with one or two houses. And here's what's going on as well too. The last two deals I did with two of my clients, they actually had a property where they were doing a four-bedroom house. They created about another four-bedroom house because they have eight bedrooms all together. They went to buy the house, the houses. It's like a $200,000 house. They need approximately $40,000 to get into the deal."
},
{
"end_time": 11834.821,
"index": 486,
"start_time": 11805.077,
"text": " They went got funding in the for 160 other 40,000. They want to get an unsecured loan, which they got right off the internet. That unsecured loan ever gave them the $40,000 they had in three days. They just want to put the property. Now they have the property. They're setting up to refinance in about six months. But really, the point is that on the property itself right now, the property is currently generating a give or take, give or take on it, probably somewhere around the space of $7,000 a month again."
},
{
"end_time": 11856.869,
"index": 487,
"start_time": 11835.128,
"text": " Real profits of about $3,000 a month net profit. That's third $36,000. So you're making $36,000. You don't get up and go anywhere. The money just comes and we call it magic money. The money just comes and comes from rental residual income that comes in and that's from those rooms. Are you are you teaching these guys and managing themselves or because my"
},
{
"end_time": 11885.128,
"index": 488,
"start_time": 11857.329,
"text": " My ex-wife has a bunch of these properties like that and she has somebody she calls him a house man. She always have one guy in there that will collect the rent, mow the yard, she'll give him a discount on his, mow the yard, you know, clean up everything. And then he calls her like once a week and she drives up and gets out. She goes, I might walk through the place, but she says, if I trust the guy, he's been there for, you know, six months or a year or two. She goes, he'll come out and just give me the payment or cash app or whatever. Well, a lot of people will cash app her."
},
{
"end_time": 11906.8,
"index": 489,
"start_time": 11885.128,
"text": " But she said used to be they walk out and give her the cash but but she would always have some guy show I'm like said you're not you're not even she's like I'm not doing no they were absolutely and I got one better for her but our system we teach them how to do auto pay so the money's automatically debited from their account I think they all pay her like cash right so this way we have we have we look at the trajectory of their"
},
{
"end_time": 11922.824,
"index": 490,
"start_time": 11907.398,
"text": " Income direct deposit so we can see you get paid on the third you get paid on 9th you get paid on the 15th. So literally it debits on those days because you have a history of those debits taking place on this way as soon as your money hits it automatically debits right soon as it hits"
},
{
"end_time": 11947.466,
"index": 491,
"start_time": 11923.439,
"text": " This way they don't have to think about it. So that's part of the management system that we use. The idea too is the onboarding is a big part of it as well to show them how to qualify tenants showing them how to use the managers. We have one of my buildings. We have a lady named Crystal. She's down there. She has the documents the paperwork. She literally she calls them. I show our process shows him how she does the marketing. She calls them down."
},
{
"end_time": 11972.483,
"index": 492,
"start_time": 11947.756,
"text": " She runs the room. She qualifies them. She calls me up to do the processing. We have our team do the process and the money comes right through. But like your wife, they cover the whole gamut of the whole process. So now there's cash flowing. It makes money. You don't have to lift a finger. And that's a big part of it too with the management. Once it's structured, you don't need to lift a finger like your wife. So I mean,"
},
{
"end_time": 11986.288,
"index": 493,
"start_time": 11973.046,
"text": " So are you teaching? Are you just doing your own? So what we do is that we do our own, we do properties that we build and develop as well also. But in the same breath too, what we do is we teach people how to acquire real estate"
},
{
"end_time": 12004.206,
"index": 494,
"start_time": 11986.817,
"text": " How to build out that real estate, how to get the real estate finance because a lot of people think they can't do a deal. They think they can't get a fine. We show them how to structure it. We show them how to use properties that are subject to we show people how to do lease purchases. How do you rent to own because a lot of times you really don't need to own the property. You can actually rent a property and release it."
},
{
"end_time": 12018.422,
"index": 495,
"start_time": 12004.206,
"text": " We also show them how to do work with different programs, how to work with SSI, how to work with seniors, how to work with travelers, how to work with students, how to work with professionals, how to really target your group for your shared housing concept, and then how to convert"
},
{
"end_time": 12048.166,
"index": 496,
"start_time": 12019.172,
"text": " additional space into cash flowing rooms, because once you're running rooms, you no longer need that living room. You no longer need that. You don't want that. You don't want that living room. You don't want that. And they're fine in their rooms. You don't want the garage suddenly, you know, off a garage, two rooms on there, you can make $20,000 a year off your garage. Just the garage, 20 grand a year, just from the garage, then not to mention, so we should ought to convert those spaces as well. How to have that management structure and how to really scale it."
},
{
"end_time": 12066.271,
"index": 497,
"start_time": 12048.626,
"text": " Because the idea is if you're making $3,000 a month profit, how do you get three, four, five, six of these while working your job? How do you have the house man like your wife managing it while you're going to work? And suddenly you've got five of these creating $3,000 a month. We're getting $15,000 a month coming in cash flow."
},
{
"end_time": 12091.783,
"index": 498,
"start_time": 12066.732,
"text": " Not to mention equity. You're getting properties below market value. You have real estate. You're building real wealth through these assets and real estate as well, too. So these are the things that we're putting people into where we're giving them the blueprint on how to structure this, which is a really big important part of building wealth. And it's right here outside your front door. I was going to say what happened to because when we were talking about this in prison,"
},
{
"end_time": 12114.821,
"index": 499,
"start_time": 12092.073,
"text": " Well, when you were telling me about how you stole my idea and tweaked it just enough that you felt good about it. No, no, this is different. This is different. All my houses are going to be yellow. It changes everything. But one of the things I remember, this was when you were talking about building. I wonder if this is still in your where you had workspaces"
},
{
"end_time": 12144.667,
"index": 500,
"start_time": 12115.333,
"text": " Is that what did what did you remember that? Yeah, I do remember that. It was you know what it was. It was the small offices concept out of small office kind of like a or like a work from home type of thing, right? Yeah, because it's like, hey, you can live and have a shared office space, which is kind of like what was that? We we works. We work kind of like the we work thing. But you were talking about I think you were talking about that when he was doing right before he went under. Right. What an idiot. Like he like he had a great concept that he ruined. I don't something something something. I remember him."
},
{
"end_time": 12173.712,
"index": 501,
"start_time": 12144.667,
"text": " But you had you were basically saying that but they live there and I was going to say so have you ever thought I've actually two questions. That's that's the first one. Have you have you thought about going back to that or no, you're just going to stick with what you want. So here's my philosophy with rental properties and running rooms. The idea is how can you a help people which is a big part of it. Housing is a function that really helps people in that process. But be how can you"
},
{
"end_time": 12192.312,
"index": 502,
"start_time": 12174.923,
"text": " Acquire these properties, create the rooms, and scale as quickly as possible. How can Mrs. Jones, who's a nurse, working as a nurse, how can she acquire properties that allow her to make $3,000 a month profit? So if she's bringing in $7,000 a month, she needs 10 rooms, how can she get those properties quick and scale them quick?"
},
{
"end_time": 12213.951,
"index": 503,
"start_time": 12192.312,
"text": " couple of things you need to be able to understand how to get financing that's one part of it so how to pay for that so we show so again and how do you buy these houses where the square footage is there we can get 10 rooms so we know that a basement would be great because you can cut the basement up and create four or five rooms on it we know garages are needed we can cut them but once you start doing that way living rooms bedrooms dinings like you said in little streets"
},
{
"end_time": 12243.592,
"index": 504,
"start_time": 12213.951,
"text": " Wherever those spaces for us to create rentable cash flowing rooms, we no longer have to build, we just have to build to suit that market. That market has a hundred million Americans that really are in that space. So once we build it and we can create that space there, we can just cash flow them quick, cash flow them quick, cash flow them quick, cash flow them quick, buy these houses, cash flow them, buy these houses, and we're creating cash flow quickly and anyone can do it. So you're not going to answer my question? The answer is we don't focus on that. We just focus on rooms."
},
{
"end_time": 12268.422,
"index": 505,
"start_time": 12243.899,
"text": " We only sell cheeseburgers. We don't sell hot dogs. We don't have different versions about the market. Okay. The other thing was and this is when whenever I was talking to people about it, they were always like, oh, you're going to get nothing but a bunch of but derelicts in there. That's not true. I because and I used to say this is like listen,"
},
{
"end_time": 12287.09,
"index": 506,
"start_time": 12268.985,
"text": " Here's the thing the guy that works at tire Kingdom that has two kids he's divorced and he's got child support payments like all he wants is to work see his kids and have a place where he can go to sleep and keep his stuff where it's not going to be ripped off and you don't have to listen to."
},
{
"end_time": 12312.892,
"index": 507,
"start_time": 12287.654,
"text": " Gunshots in the in the street. It's not, you know, it's not in a horrible place and he's safe that hey when I'm done with work and seeing my kids and do whatever I can go home my stuff's there. I can go to sleep. It's a clean environment. You assume saying absolutely that's who unless it's in if unless it's next the project and you're specifically selling your renting rooms to drug dealers, but you know, but if you're going lower middle-class areas or middle-class areas then"
},
{
"end_time": 12331.561,
"index": 508,
"start_time": 12313.66,
"text": " You can pick good tenants that are like, listen, but I just need some place to keep my clothes and sleep. That's affordable. Check this out. Just to really elaborate part two is rent has gone up four times the pace of the average American income."
},
{
"end_time": 12362.022,
"index": 509,
"start_time": 12332.022,
"text": " Literally, rents have gone up since 1985, 195%. So the people that are running rooms today, if you make under $38,000 a year, you are in some type of room or you're in some type of shared housing. So the thing is, is that it's an economics thing. If you make under $38,000 a year after taxes, that might be four or five hundredth week. The average rent in the United States today is $2,000 a month. You cannot move into an apartment."
},
{
"end_time": 12391.937,
"index": 510,
"start_time": 12362.022,
"text": " You have to move into a room. It's not an option. So once you understand that number and you understand they're saying there right now there are 6 million units of affordable housing houses needed or affordable units affordable housing needed by Americans today 6 million they brought up at the vice presidential debate. They brought it up. So the thing is that people need and they have to move into these rooms. That's why for landlords. This is one of the biggest wealth opportunities landlords are getting"
},
{
"end_time": 12409.599,
"index": 511,
"start_time": 12392.159,
"text": " Filthy rich rents beat out cryptocurrency rents be the house stocks bonds rent rents be inflation. There's no investment that will produce for you what rental income will produce and that is an explosive opportunity because a house becomes an apartment building."
},
{
"end_time": 12429.582,
"index": 512,
"start_time": 12409.599,
"text": " Hey, you guys, I really appreciate you watching. If you like the video, do me a favor, hit the subscribe button, hit the bell so you get notified of videos just like this. Also, if you're interested in any of Dalce's programs, go into the description box. We're going to have the link to his website. You can go there. You can sign up. You can check it out. It's super interesting. He's actually got some"
},
{
"end_time": 12440.657,
"index": 513,
"start_time": 12429.582,
"text": " Videos you have videos right? Yeah, actually come my free come my free webinars. Those are absolutely fantastic doesn't cost a penny. Just come get information learn. I'm telling you they're multi room."
},
{
"end_time": 12460.52,
"index": 514,
"start_time": 12441.135,
"text": " Program is absolutely explosive and it's free come join me and get some real information. Sorry. No, no, it's perfect. It's perfect. It's better than I was going to do. So yeah, yeah, go go in there. The link will be in the description. We're also going to put all of a doll sees social media links. We're also going to put his"
},
{
"end_time": 12481.357,
"index": 515,
"start_time": 12460.52,
"text": " And he's he's got a he's starting a YouTube channel. So that YouTube he's gonna have some interesting stuff on there to check it out subscribe follow Really appreciate you guys watching this also, please consider joining our patreon. It's $10 a month It helps us make these these types of videos and it really does help us. So thank you very much and"
},
{
"end_time": 12510.23,
"index": 516,
"start_time": 12481.357,
"text": " It started with a scream inside a quiet Maryland home. A mother trying to protect the family dog and her son in the grip of a violent hallucinogenic rage."
},
{
"end_time": 12528.951,
"index": 517,
"start_time": 12510.93,
"text": " By the time it was over, she was dead, and he claimed LSD made him do it. His name, David Minor IV, and we talked to him. Listen to Invisible Choir every other week as we uncover the most haunting true crimes you've never heard of, available wherever you get your podcasts."
}
]
}No transcript available.