Building Business Credit Means Building Partnerships - Episode #276 w/ Herman Dolce

we get all these lines of credit to do what with when i could just to to leverage to make more money so your hundred thousand dollars in cash can only go so far right but if you had a million dollars in credit you just 10x yourself to make more money it's all about leveraging other people's money to make money that's what it is so that's why to me there's no cap on how much credit that i can get or i could get because my cash is always limited but credit is way more got you right so you got millions in line of credit millions in credit so you can go buy a two million dollar building with the line of credits yes i could i would have to pull it all together but that's just a mess right but with um i can get a two million dollar building right and only have to put a hundred or two hundred thousand down to get it why is that right because you know you just gotta put a down payment to get it right yeah so i can leverage my credit i get my line i got a couple lines of credit that are 100 grand right um that'll probably cost me 1400 a month to pay those 200 bills right so i'm taking that 200 000 credit to put down and now i have access to 2 million in real estate yes and no money came out of my pocket that's why credit is so important so now i'm leveraging it so never cap yourself so my money my cash stays in my in my pocket i'm leveraging the bank's money cash out refi to 2 million use credit to fix it up and turn it into 5 million all right listen every single week every episode you hear me talking about themorningmeetup.com it's the community let me show you what's happening here every single morning monday through friday there's 400 plus people on a zoom call right we're learning we're talking we're growing together and this is you there's all these people here it's all these people in the morning meetup hundreds of people reading books growing we get together quarterly it's amazing and for some reason you just keep looking at just go to the morning meow.com and get in the circle and then you'll be like way happier just the morningmeetup.com let's get back to that episode welcome to another edition of the social proof podcast we find dope people that do dope stuff today is no different we have the business credit king you ever called yourself that king credit and king business credit king it just sounds lit trademark on the way oh let me get you a mic in here all right mark on the way i need a percentage of that okay you can't just be still in my ip all right so yes you um let's just get straight out the jump because five asked you a question um how many people you funded or how much money and funding did you receive or get for your clients how much was that so in 2021 we did 50 million dollars in funding for our clients meaning you got 50 million dollars worth of credit and funding yeah credit for homes lines of credit the whole shebang were yeah are all of these people who file their taxes regularly oh that's none of my business hey man i'm i'm honestly i'm like i'm getting my stuff together all right because you know like people can make money but you don't be able to pay taxes and all that kind of stuff but i am a taxpayer citizen i tell you that it's ghettos it's very very good i mean especially yo i paid a lot like more you know i i paid more taxes than i would have made working at the cheesecake factory for like 15 years dave wilde dave is that doing wrong we'll talk offline no let's talk right now i mean how do you okay how do you you're not trying to um defer taxes appropriately or put it into real estate here's the thing yes here's the thing okay no i don't have the thing you tell me the thing what am i supposed to do you got like income so like so you get your income um are you putting those income into other assets such as insurance or like real estate reinvested in back into your company like i'm doing a lot to make sure i pay as less taxes as possible so are you ensuring that you're doing the same thing yeah i mean i'll do my very best okay all right and you're my very cpa's giving you advice on yeah well i'm just now getting a whole i just got a whole team kind of like in the last year that's like educating me i did a conservation easement you familiar no so it's an initiative for the government where to conserve land okay so what they'll do is they'll take this plot of land figure out how much it's worth and then people can invest in the purchase of that land okay and you're investing in the purchase of the land uh will well they give you a big tax break so it's like like 4x so let's say you i don't know you invest 200 000 right it might take 800 000 off your tax burden it's a conservation easement oh that's a good one yeah i might add that to the portfolio you might want to add that's a good one i didn't know how important um having a cpa and a tax professional was until like later on so i was paying heavy in taxes so i sat there with the right person i had a networking event i found that i was paying zoom way too much in taxes so now i meet up with my tax person every 90 days so they they check the stripe the paypal the bank account and they're like oh all right so they know what to do in advance so by the time 2023 comes up there it's already taken care of i don't even think we introduced your name my name is herman dolce okay all right i just got it's a real sense yeah we just went in yeah all right so herman um and haitian ceo hsc or on instagram yeah so okay so when you have these conversations with your cpa what are they about um how much i made um and where do i want to put the money so sometimes i put the money in insurance um life insurance your life insurance policies right i hear about that but it always seems like i don't know it always seems like i don't know you feel like i'm being sold on something you know i mean so let me try to tell you then okay all right so say here i make a hundred thousand dollars right in profit this month and i buy a policy i front load the policy whole life policy with 100 grand right so now i put it into an investment that i don't have to pay taxes on so i take this profit that i'm going to be taxed on and i put into a life insurance policy so you can think about it as instead of putting the money in a bank i put the money into another savings account which is an insurance policy so now i'm not paying taxes on it right but her like you put into a policy like hold on i profit a hundred thousand dollars in a month i take the whole hundred thousand let's say yeah and i put it into a life insurance policy i don't get taxed on a hundred thousand that just came to me not because you invested it into insurance policy now here's a benefit here's a wonderful thing about this because this infinite infinite banking you could youtube it yeah i've heard definitely they you know vet me on this one so now like all right herman while i put into this to this policy it does several things now you have this policy where it accrues interest over time right you're leaving something to your children right that hundred thousand can grow in 30 years to probably like a million or two right um in addition to that what if herman i need that 100. well i need 80 000. well you can go and take it out you can pull it out as a loan and then you can reinvest it put it back into whatever you need to and continue to flip the money over and over you can okay you put the hundred into a life insurance policy right and i'm guessing it has to be the right policy correct has to be set up correctly just kept putting any policy but right you know my insurance guy is part of my team got you the the hundred thousand is there in the policy and it accrues interest and it accrues interest but don't you gotta pay monthly for the insurance no you don't have to pay monthly fee insurance so say friend's like hey bro i got 100 grand i want to front load this policy so okay i'll write you up thousand dollar policy and i write them and send them a check why are the money for them words yeah you make money from that who me like if i did it let's say i did it through you you make money oh no i just this is just information everybody needs to know i'll connect you with my guy i'm about to get an insurance license yeah joe you need to get an insurance license so that you can write me up an insurance policy and i don't gotta you know we make some money off to me doing it okay he don't get the vision i feel like it's multiple multiple multiple streams yeah yeah man okay so a hundred thousand a hundred thousand that i just made the government can't tax me on the hundred thousand investment in insurance because invested in insurance policy right just remember think of this policy as a savings account instead of leaving your money in a bank account put into a savings into an insurance company you don't have much money in the bank huh no no banks are mainly used for transactional purposes not to store money got it 100 000 in an insurance policy i can take 80 000 out of it as a loan yeah at a certain percentage rate yes it varies yeah but insurance rate goes to the insurance company i imagine correct so let's just say i take 80 000 out i use the 80 000 to go make another 80 000 exactly i pay the 83 000 back that's right and then i only get it i'll only get taxed on the 80 something i made that i didn't put into the policy correct or you just keep doing it over and over and over again right i consider like you know when they say money is currency right um money should never stop moving when money stops moving you spend it or you pay taxes on it all right so you got to keep that money moving so i need that insurance policy yeah real estate another thing you got insurance file you be doing that yes you be infinite banking you're infinite banker what about you you're an infinite banker you're an infinite banker too what's wrong with me ain't nobody tell me joe you infinite banking you just found out yeah okay all right that's lit all right so okay tell me about this 50 million all right in funding how do people get that how did people get that i just gave them the education right um put them on game and and they basically execute it so number one put everything in your business name take everything out your name right everything you've been everything joe he's turning around a little bit a slow one tiny bit a little bit i guess yeah i know right um yeah so put your um put everything in your business name nothing's in my name whatsoever right um once everything is in your name you got your ein you got your llc then you wanna um anyone go get some funding go to different banks and get this money how many businesses do you have how many 22. you have 22 22 businesses right and then i probably got like 50 or 60 llc's just sitting around 50 or 60 llc's right every 30 days i buy a couple why because i'm gonna fund them later we're gonna fun all right we gotta explain it bro cause i'm lost so is this a piece of paper right yeah until i give it life right how do i give this llc life um the one you get the llc you get the ein right and then i have to position the llc to look like a person right what does a person have you have a name you have an address you have a phone number right so you got to do the same thing for the for the llc you're going to give it a name but you have to be careful the name that you give the business because that can stop how much funding you can get so i do real estate but my company name bellastone enterprises isn't called bellisson real estate because real estate is a high-risk industry if it's a high-risk industry they can deny you funding or give you like instead of a ten thousand dollar credit card they give you like a three thousand dollar credit card um hey one of my companies got real estate in it right so you gotta you gotta be careful then you give it um a phone number right you have a phone number your business has to have a phone number not your cell phone number and banks can tell if it's a real business phone number or not so a good place to go get these phone numbers is on freedomvoice.com is a real good one i send my clients too it's only 10 bucks a month so you get like a 1-800 number you're looking real professional all right then you go get a business address you have a nice building right here there's a business address right here not everybody can afford this so go get a virtual address where you just rent the address and attach it to your business get a business website because you gotta look professional because your twitter handle your instagram handle is not enough you got 80 websites bro so when it's time for me to fund it i go do it a website is like 100 bucks bro yeah yeah anything crazy but the business doesn't actually do anything no not for now that's how i wake it up well you'll go get the funding for it first no i wake it up and i tell the business all right this business is going to sell white paint or this business is a general and i always use this business consultation right so i say you do business consultation you do business consultation get the website and knock it out okay so you got all these llc's and how many of them do you have active active 22. you have 22 22. when it got all over like a nightmare and headache uh now when you're trying to raise the capital make a move i don't gotta ask anybody for the money how much how much you got like like lines of credit through all your 22. millions millions yeah millions just access the capital access the capital here and get this out that's wild yeah thank you that's how many website domains do you have too many i got like 100 something all right imagine getting 10 000 for each of them or 100 grand for each of them yeah but i was doing it because i i'll come up with a really cool idea you know what i mean i'm like oh i got to keep this website funny story so we have my we at my guy's house rick ross's house and then he talks about financial polygamy right so i go and accidentally financial polygamy right talk to him about that so i go to talk to eric i'm like all right i got a quick question for you he said hold on i'll say hello what you doing oh financial polygamy.com he's right on it oh wow he got right on it oh wow yeah that's crazy all right so do you do here's the thing so um like like shopify and stripe maybe try to give me funding but i don't take it i'm like i don't need your money especially it's like high interest uh i wouldn't go to shopify i wouldn't go to them i'll go to the banks it's zero percent interest for the money if it's up to 12 months why would you and then what is it after that it goes up crazy probably goes up 15 20 but guess what run it back and do it again go to a different bank see i'll just be using my own like bread i mean obviously i got you know credit cards and stuff like that but i paid off in a month i don't i don't be wanting to use a high interest maybe i just don't understand the strategy give me an example of something that you use that's funding for uh trucking okay right so i i know trucking is a high risk industry too so olivia monroe enterprises that's a that's the name of my other daughter's company and that company does trucking so but i can't put that in the business name because that's that's a high risk industry so olivia monroe does what business consulting go get a 25 000 business credit card because my credit is good i personally guarantee it but the debt is in my business's name 25 000 go put down on it on a truck right and then i got zero percent interest for a year so now i'm running it up on a truck that's making four or five figures a week a month excuse me pay down the debt and it's i'm using money to make money because it's free no interest for a year you should be able to get so like a 25 000 credit card bro that note on that is like like 250 a month 200 a month no interest no interest and then my job is to pay down the debt crush it within a year okay okay but you said if you personally guarantee the loan but you get the truck in your business name the debt is to your business but that's the purpose of the personal guarantee isn't it it'll go against you too so yeah it goes on me too but it's not on my big personal credit report you don't see it every month you don't see it every month right so now that this debt is not on my personal side i can continue to run it up over and over again got it yeah okay all right so i actually maybe i did this wrong i just bought a van right um i'm gonna get rats i did buy it in my business name i had to do a personal guarantee good good good i put out a lot of money on it though okay something wrong with that no there's nothing wrong with that it all depends on your credit um bank of america is a really good place to go and get well they gave me a lot i mean they would have gave it to me it's the same rate i just decided to put because i only want to pay to a high note every month and if i got the cash i just dump it in you just dump it in should i not have done that no that's fine that sounds cool yeah that's a good idea okay okay all right so what are some of the elements that's needed how can i start doing business credit without a personal guarantee so there's a couple first of all the industry has changed right so there's a couple of banks you can go to divi d-i-v-v-i why is one capital on tap is another where these banks they don't care about personal guarantees whatsoever if you got some revenue coming in they're going to ask for the last 90 days of your bank statements and then they give you some money based on that so they can give you 25 30 grand and that's a great way to start if you are a new business right couple months old nothing too crazy your credit's not good yet that's a good place for you to start no personal guarantee business credit cards yeah i guess i would imagine the loan the interest is higher uh it's relative it's pretty much the same thing like all the other really why would they do that because these these industries these banks these lenders started to see hey if a business is making a hundred thousand two hundred thousand three hundred thousand they know what they're doing so just because their credit isn't bad let's give them a shot ah i see that that actually makes sense right because they're i guess they're in tune with the world of people know how to go make some money it's just tax filing and credit handling stuff like that but they they know how to go get them right and then they got and they got your bank docs they got documentation so when i'm sending you to these other banks these credit unions or regular bigger banks you got a 680 credit score minimum you're getting in the door but we don't want minimums we want hot we want high capital when you go in there they're just going based on your credit they're not asking for documentation or anything like that and they'll give you a 25 000 credit card because you're personally guaranteeing it what's the highest line of credit that you've received a hundred thousand dollars a hundred thousand yeah 100 yeah from key bank it's my favorite bank it's a regional bank it's in philly it's in chicago new york did you use it yeah i use it and and would you use that 100 000 to buy more trucks also trucking is your thing yeah oh so the your daughter's business right olivia monroe enterprise yeah so that's the trucking company so i bought her i bought i bought like five six trucks with it he's making money yeah he's doing it all right it's doing okay awesome yeah give me some other places that you parked your money real estate yeah trucking and real estate why i i lean on those more heavier is that trucking gets cash nice cash flow the asset is depreciating of course because the truck got miles on it but i purchased real estate for longevity for wealth right the returns are a lot smaller i make a little two three hundred dollars per property but i have an asset that's continued to appreciate and i can use that for to help out with the tax burdens got it so you don't put a lot of money down to purchase real estate so let's say you there's a 500 000 well give me an example of a property that's used and i want to know and i'll ask some questions on that specific situation okay so i see a property for 100 grand right um based on my relationship with my lenders they might ask me to put ten percent now give me a real scenario like a real property okay that you've acquired and how you got it northeast philly is a duplex the property is 110 right um the rent probably 2500 a month for it right yeah 2500 a month we put down 10 10 but i leveraged the um a business credit card to do it to get into that deal because that's when i really first started in the game and i had no money right so i took the cash off the credit card put it put to put the down payment went to a hard money lender for the rest of the money right and now i have this property that's cash flowing 2500 a month and it's probably costing me 900 a month to maintain it damn you leveraged everything yeah you leverage everything how did you how did you pay back the hard money lenders um refinance the house okay walk me through walk me through the whole process so after i got the property closed on it right i went back to the same lender and i'm like hey i got the lease it's making 2 500 a month i like to refinance it into a 30-year mortgage now it's a fixed rate because that hard money lender is really expensive right but now it's refinanced to like three four percent and now i have this they get their money back paid a credit card off yeah pay the credit i just got this product now so so rinse and repeat listen if i was gonna teach you how to make a million dollars would you give me ten thousand like if i had a course teach you how to make a million dollars a year positive you're gonna make a million dollars would you give me ten thousand of course you would it's no brand right so in a calendar year we make seven figures with the podcast but there's 21 things that i extracted from that that you're going to need to launch your podcast but i only got time to give you three right now one is you need a distribution platform the distribution platform is what you upload your podcast to that platform sends it to spotify apple google play so that your supporters can actually listen to your podcast you're also going to need a microphone you need a really good microphone so it's crispy audio and three you need an income strategy this is not necessarily a hobby unless you're gonna make a hobby but i can teach you how i made the seven figures with these 21 things now the good news is you don't have to give me 10 000 my ebook is only 37 bucks okay so listen go to podcastebook.com and get the 21 things that you need and i can explain it in detail all the things that you need okay podcastebook.com let's get to the episode got it so i look up in 30 years with a portfolio of 100 properties leave it to my kids and i'm out of here these 22 llc's that you got are they all for properties most of them no they're they're for whatever i want to do oh the only reason i asked because like i bought a unit and the guy the person that sold it to me the the name of the property the name of the business was the name of the address of the property i'm starting to say right right right that's a good trend so every el and this is what uh my cpo is telling me is as we acquire more property each property should have its own llc correct so that's where i was thinking you were going but no what else do you do no no i definitely um do that too but i actually took it to another level right um because the reason why people do that is to protect yourself yeah right if something happens so i have an llc that does purchase multiple properties but those properties um that those llcs are owned by a trust so we have a trust set up right so i have a trust set up have you got a trust yeah you know he has a child who you think put me on yo you know what and i gotta ask maybe i are you really proficient on this whole trust conversation because i'm decent my team i'm decent they're just so afraid of you so you're so your business is right because remember it's all about separating yourself from your businesses more and more so my businesses are owned by my trust not by me right it's just my team like my financial team they're just i don't know like obviously they're telling me i need to getting a trust is cool right it's just a lot involved with it and you can get in trouble with it no with anything if you don't do it right you get in trouble but my attorney handles all that gotcha yeah but definitely you know separate yourself from your businesses my my properties are owned by the trust and you know i pass down the assets of my children oh nothing control everything so all of these businesses are in the trust correct so i update my trust every time i get a new asset but you don't own the trust no you control it how do you control it so tell me like give me some structure on paperwork if i'm gonna so i'm the i'm the trustee of the trust meaning i control what the assets that are in the trust but um no one else is on it's just me okay you have to have more people you don't have to um and then i have beneficiaries of the trust so um my wife and my children are the beneficiaries so if and when something happens to me they are now they control the trust and all the assets that are in it but they don't own anything right you ever got ordered it yes i've been on it you've been audited i've been on it three times what's the trust not never with the trust because i've been audited before i knew how to do things right so i've been audited three times so i know this game and i had really good and i even hate to say this had really good people that are audited me as like listen you don't have this this and this and i was like oh all right it's like if you had this this and this then we wouldn't slap you with this crazy feet what are the lists listen to some receipts bro receipts so i would like purchase i i did the real estate deal and um i purchased lumber right i didn't keep the receipts but i had credit card statements yeah credit card statements aren't receipts they want the receipts that's corny man they know people ain't about to be carrying but you're running a business that's making hundreds of thousands of dollars millions of dollars and you don't have documentation you have receipts they all come through email well for not the email or email yeah okay yeah so so there are certain things i just print out an email or whatever but i had to make sure i had my receipts so everything i do now my uh my workers my employees we take pictures upload it to the cloud as long as your docs are in order and they see that you were truly making an effort yeah so i'm a three-time auditor and the first one was bad you know what i'm saying but the second and third one is oh you really got your stuff in order yeah because once you're on a radar are you on a radar yeah yeah they left me alone after the third one really yeah when was when were these uh 20 15 16 and 17. oh yeah it was recent enough so give me that first one how much did you make that year the first audit the first audit quarter million you made a quarter million quarter million and what was the like the slap on the wrist it was a lot bro it was like 30 grand right and then the interest on it is crazy the interest and penalties is crazy you had to pay 30 grand so you had to pay 30 grand if you paid it up front you paid up front but it was like 600 a month and by the time i did the math by the time i paid it off it would have been like 70 grand so guess what i did pay it off yeah i made it all when he got a line of credit and paid it off line of credit yeah we got a line of credit and paid it off okay second year how much do you remember how much you made second was about 300. about 300. how old was your audit but those two i won because i had my ducks in a row i learned my lesson the first time how much did you have to pay that year period in taxes yeah paying taxes ghetto remember taxes you still pay taxes dave yeah all right bro that's ghetto so i'll tell you an interesting story right again it's about my cpa we're here to talk about business credit but i love this conversation right so my tax guy he um he sat down with him like third quarter that's a good story third quarter um so he was like all right your tax bill it's like october he's like your tax bill looking like 40 000 this year and i was like damn that's a lot of money um and i don't want to i don't want to pay 40 000 in taxes so he's like all right cool we'll work it out um but you know we still got time to work it out um but he was like at the top at the time trump was still in office just because you have a business though you get an automatic tax credit so like my 40 000 went to like 32. i was like you know all right shout out to him i guess um then after that he's like we'll talk so he called me in november and he said hey herm did you buy any big purchases or anything like that towards your business that you could write it up i was like man it's fourth quarter i'm not really spending that much money um i got some trucks um i bought two more trucks and he was like how much you buying for i was like i bought him for like 80 grand and he's like all right cool um are they running i'm like no my contract for them doesn't start till january he's ah you can't write him off because the trucks aren't what making any money right so i'm like all right cool he calls me top of december go ahead keep going he calls me top of december hey herm um those trucks running steve they're not they're not running i told you they're not running um he's like all right cool he calls me the week after he's at herm those trucks running yet steve january their run so he's a herm you telling me those trucks aren't gonna make you any money in the next three weeks no bro they're not gonna make any money yes they are i'm going to rent the trucks to my brother so he can do some ads right great yo bro i'm about to send you an invoice for like 100 i just need you to pay it before the 31st he's like for what just just send me i'm just paying the invoice so now i'm able to ride off the trucks because the trucks what made me money okay okay so check this out my um i bought this building it wasn't open yet right and what they're telling me is well all the money that i put into the building i can't write it off because it's not open it's not open you're not making any money yet but i have been paying so my one company has been paying the real estate company every month right and i didn't shoot added enjoy so that means all the construction and everything i can write off yeah you could write it off definitely yeah absolutely talk to the tax professional um right not some random guy on internet yeah yeah definitely but it's a wonderful game and i definitely love playing it so like my kids we went to disney world right you can't write off disney world yes you can if i turn into an ad right right you turn into a hey yeah that's a fact right so hey man we at disney world um business credit got us here blah blah blah blah blah um my kids they're they're wonderful having a good time they got the artistic circle or bellasone logos on it and these are my employees so i got to pay them gotcha right it's a wonderful game so you made over 300 000 and then your first big year right right let's say i don't know do you remember when your first 500 thousand no i went from three to a million three to a million right that's cool mm-hmm you made a million right how much did you have in expenses did you ever trust at this time no i still didn't have a chance no okay right million dollars how much did you pay an expense how much was expenses do you remember i don't remember but i know taxes i probably paid like thirty thirty thousand thousand in taxes yeah about a million a million i think i'm doing something wrong i did it legally um got a wonderful cpa but i i bought some property i bought some real estate because again i don't want the money to stop i wanted to continue to move gotcha right so in a million-dollar year with a trust how much would you have paid ghetto right ghetto taxes again i don't know here's the thing man and this is what my guy is telling me he's like yo the irs is going to get their money they're not dumb they're going to get their money but they also put rules in place just follow the rules that they put in place so if a billionaire a 750 000 in taxes dollars in taxes right he's doing something right he knows something you know something i don't know yeah and he's been doing this forever and his and his kin and his people and those in that in those spaces or like um amazon they made billions of dollars and paid no federal taxes that's documented how are they able to do that reinvest it back into the business and buy more real estate to expand their their business so um these are rules that are put in place and a good cpa reads those new rules every single year gotcha you got a pretty good team huh it was crucial who do you do your team are they a part of your team or is just somebody that you use no they're they're part of my team like you hired you paid you hired them to work exclusively with yours no no they the taxpayers whenever i wish i'm not there yet right but um no they're part of the the general team um but they have they have their own business you don't got no s corps and stuff oh me yeah yeah i do one s corp i have one escort view truck so escort is owned by the trust right everything is owned by the trust that but i want to get the structure down you have a trust yeah who owns the escort yeah one escort you got 22 llc's right are all of those owned by the escort no they're on digits owned by the trust okay so the trust owns one escort and the trust owns all these different llc's correct separately correct okay i guess fine and then i fund all of them all 22 of them are fun you fund them all yeah and the best place to go to get your llc's funded i like to tell people go to credit unions because credit unions their underwriting guidelines are not as strict as bank of america chase wells fargo right so like if you put your your zip code in right right in your area one nine seven seven three whatever right and then you put um credit unions you'll see all these credit unions in your neighborhood that pop up i'll make a phone call two three of them on a saturday make an appointment hey you got you got business credit your business lines of credit you go into the bank you um you open up a business checking account business saving account and then you fund both of them put fifty dollars in each my guy knew the entrepreneur he calls it the 50 50 play because it's like taking a girl out on a date like you're gonna ask for something but you mean like take me out so you put fifty dollars in each and before you get up they go hey you want you want some business credit as as a matter of fact i do sit your butt right back down you fill out that application and let's see what they can do you now if your credit 700 and above let's say 680 right if it's halfway decent right and you and you got to have a couple of primaries before they give you ten fifty thousand dollars for your business they wanna see how you did with your personal also right so um if your credit profile is decent you can walk out of there with a ten fifteen thousand dollar card on the low end that's on the low end and you're doing that three times on a saturday so you can raise yourself thirty thousand dollars in capital on saturday zero percent interest in the same company no at different banks oh yeah that same llc yeah go to this bank hey man hold me down give me some credit go to another bank give me credit just do the same thing right get those inquiries off and do it again what about the people that's looking at this like he's and i'm asking this question because it's like mine isn't going to ask it yeah no i mean my team is like there's your i don't know man they don't be wanting to now you got a solid team dude clearly no no i'm talking about my financial situation like there's uh i don't know i don't know you gotta talk to him yeah yeah i gotta talk to him man there's this guy on the show the other day yeah because i mean moral of the story is like you want to play inside the rules you got to know the rules but you got to know the rules right you got to know the rules and if you don't know the rules you're going to get in trouble or you're gonna lose on a lot of capital a lot of information because you just didn't have that information so not having information cost us a lot of money okay so what are some of the things that are needed first off yeah your first million dollar a year how much you pay taxes on you know fun you remember your first your first million dollar year which was it's not about bob said he gave me his answer which was like 20 years ago your first million dollar year how much did you pay attack do you remember how much you pay in texas i remember now he won't remember how much how much you made how much you paid in taxes too much way way too much right this is wild yeah what's happening right now as well all right so all right so what what are we needing to get business credit all right what's needed so we already talked about the llc you got the ein set up llc get the ein got the website done get a website right got to get the website the socials just the social media just ain't enough right you're gonna have to have a personal you have to have personal credit yeah you have to have good personal credit so a good personal profile let's talk about what that looks like some people like hey i did i did everything you said but it didn't work i was like what does your credit look like my credit i'm like what does your credit look like you're asking this company for all this money yeah um and your business is like a baby right so you got to what co-signed for it so like you know when your daughter's 16 and she want to get her first card you're trying to build her credit you got to most likely co-sign for it or when some of our us went to college our parents had to what cosine for the money so you're going to cosign for your business so 680 is the minimum at least two credit cards on your credit report that are over two years old the limits got to be about twenty five hundred dollars that's a good minimal profile now the higher those numbers are the higher credit score the older those credit cards and all that stuff the higher the limits you're going to get a bag on the business side and then as your business grows and you're generating revenue you're not going to have to personally guarantee anything anything anymore because your business is older and it's making money gotcha question for you now if let's say we have a hundred thousand and i buy a property for a hundred thousand from what i'm doing from what i'm being told is because i put that money in an investment it doesn't negate my tax burden because it's an investment mm-hmm is that so what do you see so what are you paying taxes on i want to invite you to pick my brain mine too mine too you're sue mine too you're too okay you guys we are so excited because we just dropped our newest podcast series called the brain picker podcast david oh it's going down you get to pick our brain you have a business idea a concept you're stuck you can't get off the ground you need the advice of seasoned experienced entrepreneurs not only entrepreneurs that are practitioners but we got a lot of people that we've been coaching all over the last decade all over the globe they got receipts not just that you never know where your next investor might be hanging out and the word on the street is we got all the connections that's a big factor we got all the connections so if you want to sit down with us and pick our brand in front of our audience and we're letting you pick our brains we won't even talk bad about you for doing it in front of our audience bringing your business maximum exposure find the link somewhere around here wherever you see it and apply right now to pick our brain let's go let's go let's get it let's get it so you made the hundred made a hundred but you invested it yes you made it you meet you put it into another property yes so what do you what did you make then you still made 100 you just invested in something else it's gonna make you money you reinvested it back into your business so what did you make what was your profit because you're gonna pay taxes on what profit so what was your profit trade pay tax on profit what if it's a whole other business a whole another llc all right that's right you have a good tax person like all right well this company made this but i had to help out olivia monroe so i've moved that that profit to this company and you're able to do that because this company has a loss and i gotta help it out over here that's what a good tax professional helps you do i got you i got you this is lit this is lit this is good man i can't talk about business credit but this is pretty good okay so tell me no we're still on business right it's like this is a whole financial seminar right absolutely 100 so when i learned this it absolutely changed my life because i used to put everything first of all in my name maxing out my personal credit cards dropped all my credit scores right because i was only doing like my first real estate deal and i couldn't refinance the house because my credit went down um so i had to you know borrow money paid down the credit cards and then it went back up then i was able to refinance the house to get out of it so i learned a lesson got it got it all right so when did you learn all this stuff so probably like credit i've always understood it known like 10 years ago because i used to do it for free 10 years ago 10 years ago yeah like and it was a lot easier than before millions of people were starting to send these letters out but i used to just send a letter like hey like my father herman dawsey senior one of his credit cards was on my credit report right and and i was like i don't owe seventeen thousand dollars he's like yes sir you do that they asked for my demographic information i was like sir i'm not i wasn't born in 55 i was born in 81 it's like oh this is a mistake i'm like yeah you gotta get this off of here so and this this at the time was easier to make the phone call so it got it off of there and it put me in a better position that's dope and what were you doing professionally um when i left college one of my first jobs because i went to school for public relations right just whatever i just needed a piece of paper right let my parents down anyway um i was a social worker because they just need you to have a piece of paper and a pulse right so i was a social worker making like 29.5 or whatever and then i was like well i'm in this field right now i might as well get my master's degree in it got my master's degree in it from lincoln university and then um after that i was making like you know 50 000 and it just wasn't enough i was like well i'm an executive director at a nonprofit what year is this this is eight years ago yeah and then um i was like man i'm running a three million dollar budget um got like 20 employees and i'm making 50 50 000 a year i was like this can't be it slave way just yeah yeah bro this can't be it so um uh and this is an interesting story but that is i mean what so here's first off 50 000 a year is a lot of money it is a lot of money yes it is dave it's not anymore for me though if i make 50 000 next year dave it'll be a problem but but across the when did you get dissatisfied with 50 000 when i made 100. yeah that's real but i guess real quick right and go back yeah yeah yeah i can't go back especially you're managing like a whole yeah like i'm in 20 years yeah three million dollar budget and it was 50 000. um my friend shout out to my friend charlene she's an attorney she says you only make as much as your clients make so i'm working for a non-profit what are my clients making nothing you only make as much as your clients make so now my clients are getting funded a hundred two hundred thousand dollars millions of dollars and i get a kickback from that yeah right so they're making a lot of money yeah yeah so and then i teach i teach it so then my those clients they pay me to teach them what i know got you right all right so you're making fifty thousand four years ago fifth year and then what happened what entrepreneurial journey started the entrepreneur journey started um when my wife got pregnant right well well yeah when my wife got pregnant we're um we went to we took this baby moon to italy you you know you go to baby mornings okay whenever i tell you just that baby bro you just had a baby so a baby moon is like um the last trip you take before you have children right yeah i knew that you knew that you didn't know that joe i you probably heard it because you're a woman you didn't know that a baby moon a baby yeah a baby mo i'm thinking moon instead of honeymoon like a honeymoon but it's a baby okay i get what you're saying so baby boom room my wife plans on an amazing two-week trip to italy right rome venice on the water 50 grand off no listen my wife is goat on planning trips on like 14.50 and i really i mean it bro my 25th birthday she took me to paris um for i'm not lying um i won't promote the website because they not give me no money but um like four hundred dollars playing tickets and hotel yeah she's she's amazing though just to help our people travelzoo.com travelzoo.com yeah travelzoo.com yeah last minute trips super super cheap but i'm 40. that was like when i was 25. but this is what she does like she's really really good at it so too and she's a nurse so you know she helped out yeah and paying for the trip right for sure so she's making more money in here way more money than me how did it make you feel um i i felt good i'm i'm sick i was just secure my man but i throw it in her face all the time now though oh yeah all right for sure when i get home you know i'm bringing in the bread thing about these tables they be turning right right so um we go on the honeymoon we're i'm going to pisa on a train and baby bump out to here and it's just beautiful i'm like man i wish i could do this whenever i want um so i got home and i told my brother about that experience and shout out to kevin he was like the only way you'll be free is if you own your own you'll always have that actually i think jay-z said that my brother stole it from jay-z so you say he stole that from jay-z but i remember he said it and i was like yo you're absolutely right and i was like what am i going to sell like what am i going to do he's like yo like do that credit thing you'd be doing like charge people and i'm like i can't charge people for that like that's really important information i was helping out my friends and he's like bro they're going to pay somebody hey i'm just will pay you that's real right so i i did a couple of my friends for free and then posted those results on instagram and facebook and and then broke people be like hey how much you so i started charging people and how much are you charging at that time 200 bucks oh god super super cheap right so i got flooded yeah and then started posting and and it just kept growing from there and then when i started to try to learn my craft more when on youtube university started hanging out more people that do what i do i tripped into business credit and business funding and then i was like wait a minute you'll give me fifty thousand dollars because i sign a piece of paper so i got good credit and it's not my name and i could do this over and over again i ran back and told everybody wow do you have anything that's that's in your business name that doesn't have a personal guarantee attached yes yeah my older companies yeah the data yeah they have revenue now the business once your business hits over two years old yeah it's like a it's like a magic number to these banks right and then i got the revenue yes i don't yeah those older businesses i don't i don't personally guarantee you don't personally guarantee anything anything yeah dang that's tough all right so what do you teach now so in our mentorship we go into a deep dive of all of this um because i know this is just a like two-minute podcast but there's some you got to make sure that your documents are in order you got to make sure your ein is a multi-member ein and not a sole member ein we go into all those deep dives make sure your business is structured correctly so that when you walk into the bank you don't look like a fool because when you walk into the bank you're walking in as the mouthpiece of your what of your business and you're sitting down with the mouthpiece of chase so you want to make sure you come correct because they're going to come correct they're going to give you their documentation they're going to be in order so you want to make sure you walk in there with your documentation in order your llc your ein your opinion your operating agreement and you want to speak for bellasone enterprises you want to speak for olivia monroe enterprises because i'm just a mouthpiece for these businesses got it got it 22 businesses yeah what are some other businesses you're involved in um so oh god so real estate we got trucking um i have one llc just for me doing speaking engagements right um i have a llc just for the referrals i do for a different company so hey herm can you um speak about this on your platform or all right well you need to email that email that llc right so affiliates how you manage all this stuff i don't manage all that stuff i have an amazing assistant her name is damaris she's actually going to take over a ceo next year really she does all of that so she has a logistics brain so she used to work for amazon right um running their trucks ironically yeah so her brain is very logistical so i would like put something out there and then she would like give me a look and then go write it down structure it and then come back to me because if i didn't have that person as my second brain i could i wouldn't be able to grow and come up with new things and come to atlanta and talk to you it's like so she's going to take over as ceo yeah she has stepped down i'll step down and then i'll find something else what you're going to be doing um i want to do more speaking engagements actually because i found i found a passion in teaching this right so when i started the mentorship that was fun yeah you know like you're really changing people's lives and giving them information that they never had before right um and that fostered uh me having speaking engagements around the country so i want to do more time to start to build that brand out write more books and stuff like that this is so dope yeah this is so dope i appreciate it and business credit is such a uh it's like a mystical like it just seems like it doesn't exist sometimes what i mean like in the eyes of and i'm always fascinated about how people just don't know about it don't hear about it like this sounds really scammy and i'm like no it's it's legit so that's why i have a tagline called success has receipts right that's how i always post my clients like oh bro i got the platinum i got this i got that i'm like oh that's what's up i'ma screenshot this they're like cool side note do you have the black card no i don't have the black card so i'm having this conversation with one of my friends right and he's like you got the black card i'm like no and he's and he's saying yeah you got to have it and i'm like the only benefit of having a black card is to say you have a black card it doesn't seem like a good card you know man does he did he tell you what the benefits were you can get into somebody yo he was so crazy his whole argument was the car is like 5 000 a month right right i mean a year five thousand he's like yo they came in and they gave me a thousand dollar shopping spree or something like that i'm like bro you still paying four thousand dollars what are you talking about right now so i don't see the benefits i don't have the black card but i do have several platinum cards right yeah so i remember i was like i'm not getting a platinum card yet like it costs items lit but it costs 500 but i was like it cost 500 a month a year i'm like why am i paying a credit card because i have 500 but the benefits right outweigh the five hundred dollars if you use it correctly you got the uber credits you got the you got the american airline credits and then i think they took uber away they took uber away okay so at the time yeah so they have all these things that far outweigh the 5 the 500 or what i really love about the platinum card is um at like uh these luxury hotels like four seasons or whatever i could check in early and check out late right i think that's worth 500 yeah 100 so maybe there's something in there that's the platinum i mean have you looked into it no no because i'm on that type time like i'm not paying five dollars yeah i don't get it they have to convince like so what else do i get exactly right i can get you don't go into parties i want to go outside outside this concert i get discounts on contests maybe i'll i'll do a live with him so he could get the finished point because it sounded crazy right and it's hard to get in that was another benefit and i was talking to neo too he's like yeah because he taught the same person you're like yeah i'm gonna do it man cause he said i'm gonna get it because not many people have it i'm like that's not a good reason and access bro it's um it's a selling point to anything i suppose you got it it's coming it's nice it's coming does it yeah okay all right well i'll look into it and now all right now he's saying it because actually the person said hey what i got to be somebody else to tell you and i was like i'm like oh well five tell me that you know you say that i know that's crazy right now i feel i feel bad like going back to him and saying i got it but you don't have it right no so i feel comfortable i'm scared you're good i'm sorry all right so what about the the the the give me another play another play yeah cuz i feel like my friends be buying these cars because it's a play attack somehow a play attached to buying cars yeah man there's no reason all these lamborghinis ride around the streets these days is that a play not that i know of i mean getting into your business name and not in your name is good um putting your instagram name on it turns it into a billboard so you can write it off it's all about not being yeah i'm not doing that though cause i think somebody gonna follow me right i'm paranoid with that too my wife blessed me with a beautiful corvette for my birthday right red cherry i got it like last week it's done beautiful but i see these influences they really put their name out like i don't know my name but i'm not doing that oh there he is right now absolutely not i like to be low i was i was i'm not tight that she got it because it was my dream car when she got out i was like oh everybody gonna know that's me because not everybody in this neighborhood had this car 100 right right so before i got a regular uconn denali right right sit next to something regular it looks that's him but a play with business credit a good one for you right um if your business is over two years old right you walk in and you actually this business credit card you can also ask for a business line of credit at the same time and it'll be the same inquiry so you can get two lines of money with one inquiry from the bank though from the same bank yeah i imagine doing that at two three banks so you got a lot of credit and you got a credit card same inquiry here's here's what i don't understand though okay for you who you have the resources to buy the stuff that you need mm-hmm well why would you get all this credit all right that's it yeah i mean like why would you get the credit that i mean obviously you pay it off because i use my cards for everything but i paid off by the month so it's no interest so it doesn't it's like no harm no foul not paying anything for it anyway i just get the benefits all right we get all these lines of credit to do what with when i could just to to leverage to make more money so your hundred thousand dollars in cash can only go so far right but if you had a million dollars in credit you just 10x yourself to make more money it's all about leveraging other people's money to make money that's what it is so that's why to me there's no cap on how much credit that i can get or i could get because my cash is always limited but credit is way more got you right so you got millions in line of credit millions in credit so you can go buy a two million dollar building with the line of credits yes i could i would have to pull it all together but that's just a mess right but with um i can get a two million dollar building right and only have to put 100 or 200 000 down to get it why is that right because you know you just got to put a down payment to get it right yeah so i can leverage my credit i get my line i got a couple lines of credit that 100 grand right um that'll probably cost me 1400 a month to pay those 200 bills right so i'm taking that 200 000 credit to put down and now i have access to 2 million dollars in real estate yes and no money came out of my pocket that's why credit is so important so now i'm leveraging it so never cap yourself so my money my cash stays in my in my pocket i'm leveraging the bank's money cash out refi to 2 million use credit to fix it up and turn it into 5 million yeah you know what i'm saying so so i i'm ability and i was contemplating paying it off mm-hmm right and then i'd own it free and clear right is that a good strategy to pay off the building yeah it depends on what you're trying to do i don't always recommend paying off something because there's an opportunity cost right to you paying cash for it so say for instance the building was a hundred grand you had in debt and you got a hundred thousand dollars in your bank account yeah let me just pay this off right so i'm not paying interest but it's cheap money it's you're paying three four percent on that hundred thousand in in this property right you can take your 100 000 in cash and go do another deal that can make you money but once you put it in the property it's gone kinda because i can use the i can leverage the property's equity to get another property am i all right so you have but now right now you have the the equity in the property and you have 100 000 cash i have equity in the property and you have the cash right so why you're going to take the cash to pay off the property now you just have i don't have equity in the property though let's say for instance it was let's say it's 200 000 and you bought it it's worth two hundred thousand and your loan is two thousand a bad real estate deal i mean so so in real estate you got to make money at when you signed the paperwork right that's the equity when you bought it but the the the property that i bought it didn't have any equity in it but for what i need it for it's perfect okay right so i can make more money off of that okay right so especially in this economy it's uh it's really hard to find commercial property with equity already baked into it right you know and plus it's hard calculating commercial property whatever but i got it because for my purpose the place the location it's gonna be perfect and i know it'll go up later right right so right now i'm paying interest every single month on this money right why don't i just take the cash that i have paid off and then i don't have to pay that interest every single month okay and then you're going to take the money out of the deal anyway right probably at some point and then until i and let's say for instance it's the four months before i do something with the money what if there's an emergency i mean i got more money you're going to fight me on this one aren't you absolutely you're going to fight so i'm trying to understand i'm trying to understand why not because a couple people told me what there's a reason i shouldn't because a bunch of people told me that i shouldn't right it's costing you money i'm trying to see how's it dead so let's say for instance right now so right now i'll tell you my my mortgage is almost 3 000 a month or 2 700 something like that and i'm paying that every single month so if i don't do anything with this money that i have for four months that's me paying 10 grand a little over 10 grand what if i come to you with a play i'm like dave 20 dollars right i can flip it give you thirty thousand next month i have twenty thousand dollars so because you have more money extra money you're going to put this money and pay it off the debt right i was thinking all right but again that still doesn't negate what i'm telling you that your cash can make you money in other places it will it the cash that you will make in other places will always outweigh the interest you're saving on paying on paying down the debt on the house because it's super cheap money so like people who are on credit card debt i'll tell them yo take that cash and pay it off because your credit card interest is like 20 right you're where you're gonna make percent right nowhere well you can there's some plays right but you know right it's like i know a guy right so i'm knocking i know i got it but paying that off makes sense that credit card that makes sense but if you got a property you're paying such cheap interest nah it doesn't make sense because i'm i can definitely make more than three to four percent on a hundred thousand dollars someplace else that's why i wouldn't recommend always paying off that debt doesn't make sense get it the three to four percent that you're paying on that debt right that hundred thousand you could put so many other places that's going to make you more than three to four percent like what buying more real estate or difference you went and bought a truck somewhere you went bar shop for a hundred thousand dollars that truck is gonna make you ten thousand dollars a month but the interest is you twenty five hundred dollars it seems like the 2700 or whatever it's just going out the window it's not bro it's not even it's not doing anything jay-z's hundred million dollar house in calabasas do you think he don't have a mortgage on that there's a mortgage on that he's a billionaire there's no mortgage on this there's a mortgage on that thing because this money's making money other places maybe that's just some things i don't understand herm just yet i gotta bend your mind i gotta bid your mind so if there's another opportunity i just so you're saying i should spend my efforts figuring out what i'm gonna do with this money that's gonna make it more more money right not necessarily paying off cheap debt cheap debt is considered what good debt i'm saying no what is the percentage of cheap debt and cheap that is anything that i know i took the money it'll make money someplace else so three to four percent is cheap to me because i know i can get it someplace so if there's a certain number you get to where it's not cheap so i seem cheap so i'm at seven so i did a owner financing deal so i'll give you a structure of the deal it's a building it was five hundred thousand um i put down ten percent so fifty thousand and it's a seven percent seventy percent interest for five years interest only okay in this deal okay it just seems like this so this 2700 is going to the well the owner finance he's the bank right right he gets a free 2700 and it doesn't even touch the principal there's no equity in-house in this building no so why don't you just go to a bank and refinance it for a 30-year mortgage so i was i was going to pay it off and then go through the process of refinancing then pull the money out okay you can you can do that too but definitely refinance it get a cheaper rate right yeah but you're you're still gonna be paying interest so three percent interest is better than seven percent waivers way better way better yeah so just refinance the property without paying it off you can do that so refinancing yeah go to another bank hey give me a third year mortgage on this thing they'll pay it off pay his man the money your interest rate drops to three percent you still got 100k in the bank it's math i see what you're doing the math be math and dave the math yeah i i did obviously i'm because i'm thinking that if it's paid off until i'm ready to use it because i can always refinance it then pull the money out yeah right but if i don't got nothing to do with it right now i pay interest like i don't got nothing to do with the money right now and if emergency cut happens it's good to have cash on here yeah but there's how many 400 000 emergencies there are do you think about 400 thousand dollar emergency you gonna fight me on this one think about this you haven't had a 400 000 never had a 400 dollar emergency all right i gotta like i gotta pull this money right now right now but man if i had four hundred thousand it'll make me a lot of money though how so what'd you do oh god there's some place there's some place give me one there's some place uh if i had 400 in cash right now i'm gonna go to my go-to's though it's real estate in trucking yeah you're putting the money in real estate bro yeah oh but you're saying this is a property you haven't already acquired right this is buying something fresh okay it's gonna make me some money okay all right herman you win all right i appreciate it my job here is done yeah that was good man well thank you so much man i i i appreciate you coming by the show absolutely i appreciate it on this platform this is mind-bending okay i want you to make everyone that made you think a little bit different can i tell your story real quick so i love your platform like a lot right and i was like man i wanna i wanna be on there because if i make it on there i made it right and i was like oh that was like oprah where you automatically yeah right this is a feeling right how's that i'm not gonna make it on there right and then um i was like you know what i'm gonna i'm gonna start my own or whatever so i started my own podcast congratulations in my first podcast i interviewed myself or whatever had guests on so and then i saw you talk about it he's like yo start a podcast i was like i did this is dope that i'm going to hear with you it's called the execute podcast absolutely so what are we talking about on the podcast um so entrepreneurship looks really sweet right instagram makes it look amazing um so i left my nine to five to work um 20 hour days so and there's a journey behind that through people who have actually done it so i like to hear their stories so of that are beyond instagram like you know what's your day-to-day tell people how it's how hard this is your processes your systems how you become successful et cetera so tell me your journey of your entrepreneurship so um make it a little bit different tell their stories behind i like it i like it that's what's up but look i am um i'm gonna do a quick commercial all right and then uh you're gonna tell people how to uh get in touch you gotta close this out with something deep okay okay i mean you gotta put a bow on this whole conversation so i gotta do a quick commercial okay this episode is sponsored by the morning meetup the morning meetup is the only organization that gathers every single day monday through friday hundreds and hundreds and hundreds and hundreds of people will be on a virtual call every day live and i'm on there every day and i'm teaching entrepreneurship and stuff and i'm good at it you're very good at it okay people are like making money people are quitting their jobs because they're in an environment and maybe it has a little bit to do with me but i think 98 of the reason people are experiencing success in this community is because there's a community that's dedicated to the success of the community i love it i think if you put people in the right environment they will become what the environment says it will become i believe so if you're if you hang around a bunch of drug dealers all day eventually you have an idea to sell a little bit of drugs even if you're a plug like yo i got no smile in me that may break me off you become a drug dealer right if you hang around gossipers all day eventually you will find yourself talking about somebody that's not there with other people you are a gossiper but if you get around success you become successful i believe you can become successful by default i truly believe that you believe that what do you think yeah definitely i'm in the position i am because i was around the people who are successful definitely right it's good it's contagious it's now you actually have to do some stuff with information but i believe if you're there long enough it will force you to do something that will push the envelope for you okay so there we have it all right so look go to the morningmeetup.com join our community all right we're we're going to do away with this whole dollar trial thing because um we have too many success stories too much you got so many receipts it's too many i don't got to like lure you in for a dollar to see that we're actually like teachers go to the morningvideo.com and enroll okay uh herman thank you so much question for you where do you see yourself what do you see yourself accomplishing any big goals that you see yourself knocking out in five years i want to know what that is because i want to be able to look at this podcast five years from today and say you know i remember talking to her and five years ago he said he was going to do that and look you did got you um so when we did 50 million right that wasn't even the goal right i just cpa calls me my funders called me put all the paperwork together we did 50 million so i was like all right that's cool so i always um um somebody told me this just make make it a crazy number right if you reach half of it a quarter of it that's still a crazy number two so in five years i want to say that i did a billion in funding a billion billion in funding i think that's a nice number sounds crazy i have no idea how i'm gonna get to a billion well i'm gonna figure it out yeah for sure and figure it out a billion in funding yeah that'll be dope foreign for the community good for the branding too yeah 100 would be a good look but for like to be able to pull a billion dollars out of institutions and give it to the people to your access to people people that is uh that's some like game-changing stuff right yeah absolutely i'm glad to be part of that definitely be part of that very lit okay herm tell us everybody like how they can get in touch with you you got a mentorship right i got a mentorship yeah tell us about it um okay so um again herman dolce thank you so much you can follow me on all the socials haitian underscore ceo um and of course i'm so glad you brought me on here i couldn't come empty-handed or whatever so you brought me something but i got you an affiliate i know that's how we work oh for sure yeah absolutely so um thank you for having me so anybody who's listening to the podcast everything that i teach all the game that i learn um in my mentorship um we're giving everybody on this on this call on this youtube anybody's listening to my voice 500 off if they use the discount code dave can you make it social proof i can do that for you make the code social social proof all right yeah it's not about me it's about the platform the brand i got social proof i'll piss off demands don't worry about it i'll handle the light work she's the ceo so she bought it she'll live and um and the blueprint that that we've been talking about just at a high level her mind really got that right now um if you text the word social proof i'm gonna change it because it was it was day right oh yeah we text the word social proof to one eight four four nine five five four seven seven zero i'll give you three of my ebooks on how to build your business credit right and then now you have a blueprint to make it happen for free nine dollars nine dollars nine dollars almost free it's almost free that's basically that's about it for the website oh you gotta pay for the website domain hosting man i appreciate that absolutely i appreciate it i love what you're doing so look man make sure y'all follow her please you got to take us out of here man give us some words of wisdom um there's an entrepreneur out there that's saying yes all these numbers god lee i don't know if i could do it that's for other people i know i can my credit and i don't know if i could do this you know what's crazy um i watch your show all the time and i know how you end it so like i'm like so then you ask the question i'm like yeah it's pressure i really need to answer this question right now it's my turn um so i'll talk about my father okay real quick right my name's um came from haiti bootstrap all that good stuff right and um he had a major stroke like eight years ago right and it was a progressive situation continue to have brain bleed so um he's deteriorating over years right slow situation now he's total care right so we i'm blessed enough shout out to marcus for actually putting me in position to take care of him right so i'm able to take care of him right now but my father used to work for fred trump donald trump's father oh wow right and i remember when i was younger what do you want to be when you grow up i was like uh i want to do real estate right and he's like real estate he's like you think you have a rich father right because he knows donald right and i was like no i have a result he's like no you can't get into real estate so wow right so my father was limited first generation like i'm first generation so my father was limited by what he knew right he knew the american dream was to come here get a college education and you'll be successful right that was his blueprint because he just didn't know any better so you see what my shirt is called this i say is audit your circle my dad was the wrong person to give me advice in that area right so people without children can't give me advice on children somebody who's not married and never said i do and that has been on the other side if i do can't give me advice so we have to be careful who we're getting advice from even those from people who love us the most right so audit your circle in regards to people giving you financial advice marital advice entrepreneurial advice i only want to take advice from people who's been there or at least failed at it then i know what to not to do and what to do i like that i like that listen y'all audit your circle man we can't close it out no better than that do yourself a favor follow her man make sure you text him at the number he said text you at well i'm sure we'll have some late we'll have some links below awesome we have some links below make sure you text them this is a very very important conversation i think one of the major issues is we don't have funding to build a business we got great ideas we're taking our money got no money let's get this money teach you how to get the money man so look do yourself a favor go follow herman okay and then go get you some social proof go build something document the process but come back to your community and teach other people how you did it all right we are out of here peace you

Channel: Social Proof

Views: 299,545

Keywords:

Id: 7RoSx40bfK0

Length: 77min 4sec (4624 seconds)

Published: Mon Aug 08 2022