HOW TO BUY A HOUSE - THINGS YOU DON’T KNOW

what's up y'all it's the fourth quarter it's a new month and what better way to start it than coming to join us at eyl university yes the fourth quarter is where star players make a name for themselves so come and join the number one roster uil university is the biggest platform for business in the universe we have over 70 past classes weekly classes we have a private investment group on facebook which gives you access to our movie club our book club we also have bi-weekly real estate calls with mg the mortgage guy and monthly financial advising calls with none other than yours truly so head over to eyluniversity.com right now and enter promo code eyl for 40 off of our annual membership that's right don't wait don't hesitate head over we'll see you on the other side let's do it my graduates from my school being forbes backdrop backdrop backdrop all right guys welcome back e y a lot has changed it's a fact [Laughter] a lot has changed man it's crazy what a year can do bro nice table i'm glad you noticed man so if you're a loyal listen to the eyl you know that um you know humble beginnings when we first started we was figuring our way out and we had a few episodes that really changed the trajectory of where we are and the biggest episode 12. episode 12 featuring none other than matt garland aka mg the mortgage guy so we shot last number number 5870 when we shot the episode it was over a year ago probably like a year and a half ago yeah and um you know we was doing good but um that episode the clips from that episode just went viral on instagram one clip was like a hundred and fifty thousand one clip was like this two hundred thousand three it was just like going crazy yeah and that skyrocketed us into the top ten in the podcast charts for the first time for the first time the first time ever it was it was crazy and it was um it was just a legendary situation it was the first time i think we ever spoke about real estate it was right after nipsy hustle passed away rest in peace we actually named that we dedicated the episode out to him um the marathon continues the name of the episode episode 12. and it was the first time that anybody had really broke down the whole house hacking strategy from uh multi-family perspective in my opinion because after that i saw everybody yo everybody the monopoly money the four three two one yeah we even talked about 50 cent on that yeah [Laughter] you know ever since then you know we just developed a real close bond with matt and we just we've been rocking and rolling ever since we've done a bunch of different stuff together we went on tour hit different cities together and just did a bunch of stuff but what we had not done ever this is the first time we ever did this is have somebody on the podcast twice yeah before we have people come on like live podcasts and like interesting so i'm the first to go to the top ten double header yeah yeah yeah you're the first double had a double header yeah so i think i think it was just it was a great time because matt he's not just somebody that's on instagram that's just talking about real estate but he's actually in the industry like he works he's a licensed professional he's a licensed loan officer he helps thousands of people to get mortgages and we never try to call him you know yeah so you know i appreciate your patience so so we spoke and uh we was talking and i just felt like it was perfect timing to do this a because we haven't had a real estate episode in a long time we've been focusing on stocks shout out to everybody checking out market mondays yeah shout out to ian shout out to trap shout out shout out to the guys shout out to out watch out to mark um so you know we've been focusing on stock that's what's been in real estate has been around way longer than the stock market real estate's been around since history the beginning of time like people need somewhere to live right even when they had huts so it's like before we was doing a lot of real estate episodes and we haven't done a really episode in months so a i think i thought we both thought that that was a good time to do this b i mean matt's just become a legend since then he had 3 000 followers now you got a hundred thousand followers it's historic it's a historical we're gonna watch it man we're gonna watch it a number it's a historic ride cj he's on tour with envy before corona breakfast club like five times it's been mediocre yeah it's um thank you it's um it's been a blessing man um january 2019 i think i had 1800 people on instagram fast forward to today 100k or organically and um people just you know it surprises me all the time that people want to know about mortgages because i think it's boring like i tell you guys that all the time like this is boring like why would i want to do this like when we first started talking i'm like nobody wants to hear about this stuff and he's like no i'm telling you bro you'd be surprised it's like you'd be surprised like they want to know about all of this information i think a lot has to do with the way you're delivering it you know what i'm saying so like kudos to you because it's broken down in the language that we understand something familiar that we know something about right breaking it down in a way that people can understand it yeah i mean look the main thing with my delivery is just try to make it as simple as possible you know a lot of these terms people have no clue what they mean hell [ __ ] sometimes i don't even know right i gotta google do my research and kind of figure it out and what i just try to do is just try to make it deliver that message to the folks to where they can understand it no matter where they are in their real estate journey whether you're a first-time home buyer or you got 100 properties you can kind of um watch my content and get something of value from it and it can help you grow yeah so and then to icing on the cake is when you know we reached out we spoke a few weeks ago he said yeah i'm working on a blueprint to help people navigate through it and i'm like a blueprint like what does that mean it means like you know so many people you know they have no clue about how to buy a home their appraisal process fha loans otherwise like you know it's it's one thing to kind of go through all these podcasts and youtube and kind of put it together but what if you know it was a easy go-to blueprint and i'm like i don't think anything is like that in the market so i'm like let me see like let me see for myself like before you know i'm saying yeah we actually even talk about it let me can i test out the product he likes sure so i got a behind-the-scenes look into it and it was crazy i saw like the pre-approval process the fha process yeah um questions for realtors home inspections process the long disclosure underwriting time i'm like yo this is like your whole 20 year mortgage career like rap like i'm like yo how much you charging for like this under christ i'm like yo bro yo this dude poured his life into this i'm like yo this is a million dollars we're crazy it really is you know it's a lot it took a lot of energy out of me to do that you know 150 plus videos i mean we got pop quizzes we have pdfs we have links i mean i i'm just giving you everything that you need to know no matter if you want to go conventional fha va you know you're a first-time home buyer i mean we're talking about refinancing um in the blueprint because folks don't even understand refinancing they don't understand home equity line of credit uh we have uh asset protection which you know after you buy the house people think that's just it but you got to protect your legacy too because real estate the key to it is building wealth and passing it on to your ears and you can't build wealth without life insurance and estate planners so we have that in the course too i mean i have homeowners insurance like who's talking about homeowners insurance right people just know they got to get insurance but do you really understand how insurance works no i never i never i personally have never seen anything like it so all of those factors coming into play i'm like you know what why don't we just do make history double back and do a double back and get it and get the people a million dollars worth of games so i hope we're going to do right now i let him pick the album cover too he's like yo i need that blueprint up there shout out to hope shout out to inspiration shout out to god emcee so so yeah man first and foremost welcome back welcome back man uh happy to be here fellas uh a lot has changed since it's different doesn't it it's definitely different you know i like the vibe down here you know eyl studios new york is in full effect you know i had to get the blueprint album covers behind me because it was just a beautiful thing um look i love the platform that eyl has grown into um even as as i'm looking at all the equipment now when i did what i did in episode 12 yo guys yo episode 12 they had three iphones they were under they were uneven the sound was like wires on the table eyes on the table my son in the background playing video games not loud you know the sound we didn't know if it worked properly at one time that was crazy yeah that was that was it but it shows you the growth right you guys didn't think about it you didn't sit here and have analysis paralysis you guys actually just executed i remember when shoddy was ta hashtag and earn your leisure before the podcast even came out i'm like what is he talking about but i knew it was something because he kept on hashtagging it every post like earn your leisure like what is he talking about so when we got on the phone he told me he was doing this i'm like okay a podcast and then honestly guys that's another podcast like everybody got a podcast right everybody everybody podcasting which is great but just to see from my episode of the from this equipment the studio and just the quality wasn't even that good as far as the visual you know what i'm saying but the information is powerful and that just goes to show you you don't need to be perfect you just need to execute you guys didn't know how to do a podcast that's a fact you researched bought equipment as you went along and it just took off so i'm i'm excited to be here and um speak to you guys again and and and talk to the eyl um nation and all the earners nation i like that yeah we might have to coin that nation sabine i'm gonna text you after this let's get the paperwork ready so let's let's let's jump into it man i got a lot to talk about but first and foremost we want to talk about the state of real estate right now the state of real estate so okay it's um it's a crazy town that we're living in everybody knows obviously we're in you know the age of corona and um i remember um texting you like when corona first hit i'm like yo that's when the stock market was crashing yeah and i'm like it was real estate market about to crash and he was like nah it's not and i'm like how people are losing their jobs stock market's crashing people can't go to work like all the writing's on the wall for another 2008 to happen and he was like nah commercial real estate might be in trouble but residential real estate i'm like all right we'll see and then to this day it hasn't crashed it's actually gone up in most most places in america the price the home prices have actually gone up it's a shortage of uh inventory on the marketplace so where are we at right now as far as the state of real estate in the united states of america the market is on fire for residential you know and i told you this back in march i said nah bro it's not going to happen because what people and everybody was kind of saying the same thing like yo 2008 is coming back wait don't buy don't buy weight and i said 2008 was different that was a credit crisis right this is a health crisis credit crisis means that banks wall streeters everybody homeowners you know investors everybody was greedy you know appraisers everybody right so when the market crashed the government was reluctant on trying to save everybody they didn't want to bail out everybody but they had no choice but to bail out the big names right so with this one i said now this is health this has nothing to do with nobody this is nobody's fault and if you think about if you look at the real estate market going into 2020 it was already on fire it was due for a correction at some point because what goes up must come down right but i said nah this is not going to crash there's no way because the government is going to have to bail out everybody now right from the big businesses to the everyday person and when you told me that it's going to crash that's what was in my mind because i i knew especially with election year they couldn't just let all these people die people lose their homes there's no way and as you see all these stimulus packages came out everybody getting their ppe money and everything it was reckless hopefully they wasn't reckless hopefully they wasn't reckless and hopefully they did the right thing but you know you have unemployment benefits people are getting them with ease with no problem so you know you gotta give the administration credit for what they tried to do to help as many people as possible and that's why i just didn't feel like the market was going to crash but residential real estate is on fire right now all over the country there's 30 40 offers on one house you know so if you're a seller right now if you're thinking about selling your home to upgrade or downsize this is the time for the sellers right now because they're going to get 20 30 above asking price in some markets right now because it's just too hot right now it's too many buyers out there and with these low interest rates you know what rates being in the mid twos to low threes depending on your circumstance like everybody wants to buy a house because money is cheap now right so it's easy to to the person who couldn't afford the half a million dollar house last year when rates were three and a half four percent now it's two and two and a half can can you explain like that like because the average person that maybe never brought a home might not fully appreciate because they're saying three and a half two two and a half yeah it's only one percent that's not that big of a deal but because they're looking at it like it's stocks like it's like all right if you earn one percent like what i'm saying or just regular life one percent doesn't move the needle but you know in your world of mortgages one percent's huge right so can you kind of put that in perspective oh yeah i mean look one percent depending on your loan amount right that can be three four five hundred dollars a month that could be six thousand eight 10 000 a year depending on the size of your loan right right so the bigger the loan the the lower the rate the cheaper the payment right so someone again who couldn't afford the 500 000 home or get pre-approved for a five hundred thousand dollar home a year ago because the rate was probably three and a half to four percent now they're able to because now that brings their payment down and they're able to get approved for now that higher amount so one percent is huge in the real estate in the mortgage world um interest that you're going to pay over the life of the loan is also very important too um because if you're looking at any house that you buy let's face it right the way the mortgage in the banking system is set up it's you know you're gonna pay interest three times more than what the house is actually worth but if you're getting a cheaper interest rate that softens the blow a little bit and now you can focus on your debt strategy which is repaying back your debt and trying to beat that interest trap you know what i'm saying you know little things you can do to do that you can make one extra payment a year and you can pay off your loan in 22 and a half years if you have a 30-year mortgage you know what i tell folks all the time take your income taxes refunds right and apply that every single year to your balance that could bring down your debt you can do as little as a hundred dollars a month to your principal balance and you'll be surprised of how much interest you'll save on your mortgage especially if you plan on living in the house the long term the full term of 30 years you don't want to just make your regular payment because you're gonna pay you know enough 300 400 000 home you may pay back 800 000. now that was a gym what you just said and i learned that in business i don't want that to go people's head when i first got into into the industry um working in finance i learned that like one extra payment a year on your mortgage um cut seven years off of your mortgage absolutely or eight seven eight years 22 and a half years yeah so um that's that's huge if you really think about it it's like one extra payment a year absolutely can really take almost a decade off right basically and it has to be towards your principal balance only so if you're making a payment you can't just give the bank money because they're automatically going to apply it to interest right because you have to direct them where you want that money to go so how does that even look so if my mortgage is three thousand i gotta pay six thousand if i'm doing that yeah so if your mortgage is three you can pay six and you can tell them the difference to go to principal balance only okay on some online everything's online right now with all the banks right so you can go pay your mortgage and you can specify their two principal balance only you can write a check put on a check two principal balance only okay so depending on how you pay your mortgage do that and if it's not an online option to pay extra call the service and lender that you're paying your mortgage to and figure out a way to accomplish that goal maybe they can just do automatic drafts from your account something like that and set it up to where you can make that extra payment yeah you know and you'll be surprised if you make two payments extra yeah that's what in my mind i'm thinking if i make two extra payments now that's seven turns into 14 now i'm really out of 15 year mortgage basically and this i'm glad you brought up 15 year mortgages right especially right now folks want to go into 15-year loans and look the 15-year rate the lowest i've seen it since we've been in um covet was around two percent which is phenomenal crazy right that's incredible but what i try to tell people is may not maybe not go into that 15 year right now because life happens right you're committing yourself to a much higher payment and what if you know covert 21 comes god forbid and it's worse are worse strained than this now you're committing yourself to that higher payment just to try to pay it off early when you could have went to a 30 year had a cheaper payment and just a and manage your principal balance yourself that way you're not committed to that 15-year term or that 20-year term you stay with the cheapest possible payment but still you're paying down your debt you know so and i'm not a against 20-year mortgages i think for the right people it works right people who have substantial income and they can really afford the payment but most people are trying to pay off their loan fast which i get but they they're they're now cash strapped right they're becoming house rich and cash poor because they're making their payment um so much higher because they're just focusing on i just want to get rid of it which again i understand but you got to be a little bit smarter right now because anything could happen as we've seen we woke up in 2020 kobe dead with god bless you know then covet came like this she has been crazy yeah you know what i'm saying so like if this doesn't teach anybody anything you got to have cash flow right now you got to have liquidity because anything can happen so that's why i just try to tell home future homeowners and current homeowners who are refinancing if you don't have to go to the 15 year just stay with the 20 or 30 years so that way you can have a little bit more cash flow can i go back to something you said because when you say i'm like oh how does that work because i've heard of corrections obviously in the stock market and we know that's maybe eight to ten percent or eighteen percent what does that look what does the correction look like in the real estate world is that interest rates go up like what what is the correction in the real estate world i mean it could be rates go up it could be home prices depreciate you know it could be lenders tightening up their guidelines you know all these things could be corrections in the market that can affect the buying power of americans right um if home prices decline like you thought it was i mean it sucks but what goes up must come down at some point right so that's why over leveraging is is not over leveraging is key you know and this is why i talk a lot about rehabs um rehab loans and things of that nature because i want first-time home buyers to think like investors when you're buying these homes buy them the same way that you'll see a caesar buy them or envy buy them or any investor that you guys are following online buy the same way they're buying you know there's nothing special about anybody who's flipping real estate or doing anything they just have more knowledge than you and they know where to look and where to find these properties you can do the same thing the information is available you know there's no excuse it's not like 10 15 years ago when i first came into business there was no social media right you can hashtag and follow a hashtag and you'll see hundreds of people flipping houses and they're giving you all this information so now you just gotta apply it and if you're a first-time homebuyer there's so many different programs out there for you to get the rehab money to be able to now buy a home that's undervalued put that money into it foster appreciation and now you have equity in that home and god forbid the house does depreciate you still good because if you lose 10 percent equity because the market is declining five percent equity you're not over leveraged you're not upside down so i try to promote don't buy retail if you don't have to but i understand you have to in some cases by retail because of school districts family um needs things of that nature and you don't have a choice but still try to buy the ugliest house in the best neighborhood so let me ask you this because you know obviously you said that it's a seller's market absolutely but interest rates are extremely low right now so that would say would be better it's good for the buyer so to get a loan but it's great for the seller because they're gonna have multiple offers yeah on their home okay so for people that's looking to maybe purchase a home is is this a good time to or should because like all right the average like let's say somebody hasn't brought a home yet and they're looking at it like all right i got some money saved and low interest rates this is a good time for me to buy a home but if it's a seller's market should they be looking to buy a home or should they just be waiting for it to be a buyer's market again good question right so this is what i tell everybody if you have financial security if you have down payment closing costs and reserves and you have the knowledge and your mindset is right and everything is where it needs to go you have your team and if your goal in 2020 prior to covet was to purchase then i personally believe you should still purchase right because the money is dirt cheap now on the flip side should you wait to the quote unquote buyers market come and the homes depreciate when the hell is that going to be no one has a crystal ball that could come five years from now and then the rates could be seven percent then so like i don't care if the homes go down ten fifteen percent but now i'm paying seven percent of the money right so you gotta look at the whole opportunity cost for yourself of what's going to be best for you everybody's going to have an opinion on this right everybody has everybody's an expert everybody's an economist you know what i'm saying like everybody knows when when the crash is going to happen people are saying oh the foreclosure wave is going to happen next year how do you know that how do you know that no one knows you know what i'm saying so for me if you're financially secure and you want to buy real estate and you want to get in the game and you want to invest then invest do it just be smart about it take into consideration if you're buying rental properties make sure you're doing your due diligence if it has tenants in the property make sure you ask for proof that they're paying you know what i'm saying because anybody can tell you anything yeah i got three tenants in here they're all good okay show me the proof home seller you know what i'm saying let me see two to three months of of your bank statement showing these deposits going in show me the proof be smart and that's what it's all about doing your due diligence and and and applying that information and going out there and executing at a high level and being a ceo of your real estate business even if it's your first home it doesn't matter you still got to be a ceo you can't be out here emotional and i think i said that on the last um episode two um and i've been saying this pretty much my whole career because at one point i was emotional when i was buying homes i wasn't really looking at numbers i was just happy to be able to buy real estate and i made a lot of bad decisions which you know i shared with you guys i just paid for like it was bad decisions and i just had to pay for it and it sucks but these were lessons and this is why my message my message and i try to educate everybody to tell them like look you just got to do the numbers and don't be scared just be sharp and and understand um what you're doing but don't worry about what could have should have or what can happen because if it's going to happen everything's going to happen in god's time anyway there's nothing you can do about it so just be smart and have your reserves and be prepared for the worst you know what ian said you need five five years of reserves yeah 60 months it's like you know what i'm saying so like many people ain't in that position to have five years but if you lose using your last dollar to buy real estate then you're playing yourself you're you're really playing yourself you should not be house rich and cash poor like you have to do your due diligence so what's up ernest when it comes to beard hair and face care grooming products scotch porter is the real deal helping men with grooming issues they face daily itchiness dryness shedding when it comes to your beard and hair and blemishes bacteria and clogged pores when it comes to your face i mean let's keep it real who doesn't want a soft thick growing beard scotch board is non-toxic better for you products include ingredients such as kale protein white willow bark biotin and pomegranate enzymes to cleanse condition moisturize and promote your growth need some new grooming products to get your full routine into swing for a limited time take 15 off your order over 45 dollars excluding accessories visit scotch porter.com and use the code eyl15 at checkout make sure you tell them that the good folks at uil sent you yeah one of the other things you said on episode 12 was that the equity in your home is monopoly money correct and i feel like maybe thousands of people must have heard that right because the refi rates have been low and thousands of america's been doing it right so what has that been like for your business during corona well it is a bandemic some people call it a pandemic or a plan gimmick i'm calling it a pandemic because right now if you're in the real estate industry god bless you you know you're having record-breaking years all across the board in the industry from the appraisers to the realtors to [ __ ] even the loan processors and loan assistance they're leveling up their bag because there's so much volume that companies need to hire and now look i ain't gonna tell all my business but i had to pay some people some money that i never thought i would have to pay them to come work for me right because you need talent right now because there's so much volume coming in it's not enough bodies in the real estate industry to handle the amount of people who want to do a refinance right now or buy a house it's absolutely incredible so what it's done for my business is blowing up it's a great thing i love it but it's also overwhelming it's stressful like you you you're dealing with people's lives and that's never an easy thing when you're trying to help someone either save money on a mortgage pull money out to go buy other real estate than helping them do those transactions so you know it's late night early mornings lack of sleep you know lack of time spending at home with the fam and everything like that it's a lot right now it's a lot of things being sacrificed and um it's for the greater good obviously but it's it's a lot man so yeah you making money but it's also a lot of responsibility that comes with it because you're trying to service so many people it gets overwhelming yeah and that's that's important man having that balance we talk about that a lot just having balance in your life and like we've been watching the news and it looks like the rates are going to stay that way for a while so this is going to be business you know god willing you know rates will stay low um me personally i hope they do go back up a little bit um slow things down that's just me you know what i'm saying i'd rather go up a little bit get rid of some of these people [Laughter] so we can all breathe and get back to regular life so to speak in our world you know the mortgage business is set to break records this year in 2020 trillions of dollars are being lent um in 2020 like um i can't wait to the final number it's tallied up just see what we what the mortgage business did but it's it's incredible right now that what we're on pace to do right now is couple trillion dollars like i don't think people understand that it's a lot of money being lent and people think covid and quarantine slowed things or stopped anything it didn't stop anything i mean it slowed certain components down like appraisals getting title reports and things of that nature but it didn't slow nothing down people are buying homes and that's why i tell folks all the time if you're looking to buy buy what are you waiting for go ahead because your opportunity might not be there yeah so let me ask you this as far as um this is a business show so a lot of people that listen to earning leisure is uh are entrepreneurs or aspiring entrepreneurs one of the hardest things for entrepreneurs business people 1099 contractors things of that nature is to buy a home because like a lot of times one of the benefits of being a business owner is that you get to write off a lot absolutely but the problem with that when it comes to getting a mortgage is that you don't show enough income so now it's like you know you're in a tough spot because yeah you might have made two hundred thousand dollars but you're only paying taxes on twenty thousand god bless america or 750 dollars yeah 180 million yeah yeah yeah 750 on 180. beautiful beautiful world we live in so uh but yeah it's like it's hard to get a mortgage but you you was actually enlightening me like there's different programs for business owners like especially like bank statement loan thing that they should absolutely can you because we haven't really covered that can you talk about that yeah so um you have loans out there that fall into that non-qm category non-qualified mortgage it basically means fannie mae or freddie mac who buys conventional loans from banks right they won't purchase this type of loan but there's private lenders out there that will fund bank statement loans whereas you can put as little as 10 down you can borrow up to 4 million dollars with this type of loan and we're using the deposits as your income for your business so you can use either 12 months or 24 months of those deposits in your business bank account and that can be used to qualify you for your loan so there's no tax returns there's no w tools obviously because you're self-employed we're not looking at any of that stuff we just need to see 12 months of your business bank statements and we use that for your income to qualify and you could put down as little as 10 with these loans how's the interest rates oh yeah the rich interest rate you're going to pay for it like you're going to like you're going to talk probably like in in right now 6 to 8 percent range depending on the lender you know what i'm saying and you know when you talk in six you're probably gonna have to be more 30 35 down you know high credit you know minimum credit score for this program is 660. um so but you want to get that lower rate you're gonna have to probably be in the high sevens uh with a larger down payment but if you're talking 10 down you know jumbo bank statement loan you're probably going to get clobbered for like seven and a half percent can you refinance later absolutely you can always refinance right and here's another gym if you use the bank statement program and you and you get into let's just say you're rated seven percent right file your taxes and your business has been in um in business for five years like legally in business right like you have your filing receipt in this document freddie mac has a program where you can use one year tax returns as a business owner right so now this is a conventional loan so you can refinance into the conventional loan just file your taxes the right way show the income now pay the tax the tax man what they what what you owe them or get into a payment arrangement so that way you have a monthly payment on your tax bill that's outstanding we include that tax um payment into your debt to income ratio and now you can use one year your tax returns and you don't those negative tax returns we don't even have to look at it so you can just use the one year and then refinance into a conventional loan after you do the bank statement loan how long you have to stay in the property um if you're doing a primary residence it's one year occupancy but obviously bank statement loans is not just for primary residence you can do vacation homes with it you can do investment properties with it as well but that's that's that's big especially for business owners because if you compare it's like a hard money hard money's like 10 yeah hard money right now covet rates are probably going to be 10 to 13 14 depending on who you're working with yes only in your llc's name so these bank statement loans just to clarify in your personal name still it's not in your llc's name so when you go um asset base or hard money that's strictly in your llc's name and that's why the rate is even higher because it's all llc banks but that's extremely valuable and even if it's six percent or even eight percent it's still depending on how much income you're not showing because you gotta realize it's like it's a trade-off right you either show a bunch of income by showing a bunch of income you have to pay taxes on that money correct so like let's say you're making two hundred thousand dollars and you're showing 20 000. in order to qualify you need to show a hundred thousand so now you gotta show eighty thousand dollars more correct so now you could potentially be paying thirty thousand more absolutely taxes so even if you're paying twice as much or even three times as much on the interest rate it might not equal that at least up front and then you always have the opportunity even if you're paying a higher amount to refinance down the line absolutely you always have the opportunity to sell the property absolutely you always have the opportunity if it's a multi-family home to generate income to kind of offset that so that's that's something that business owners should definitely be aware of because like i said that's a decision that business owners have to make all the time like all right do i sacrifice do i show more income and pay more taxes or do i just rent an apartment forever because i don't have enough money to just buy a home in cash something that you know if you if you if you don't if you don't own a business it's not a big deal but not just business owners but also like i said 1099 absolutely contractors independent contractors are considered self-employed in in the mortgage world because you're not having any taxes taken out of your your checks so you're self-employed so you're filing a schedule c right and you have to pay taxes so it's the same thing you know but if you're if you're 1099 you're gonna have to i would probably set yourself up as a business so that way you can get better tax benefits of having yourself incorporated or llc versus just having yourself as a s i mean um schedule c filing but you know like you said pick your poison right you want to pay 750 like you know optional or you want to go buy real estate so you're going to have to pick what's your poison right now so if you want to have this program gives you the option of having your cake and eating it too paying less taxes using the the deposits to qualify and you still buy real estate you're just going to have to pay a premium for it so for me i think the program is amazing and it and it helps so many entrepreneurs get into the real estate business yeah get you a good cpa yeah get you a get you a great cpa get you a great cpa that's a fact um so you have you had a question troy no i wanted to go into one of the things that you mentioned before and that's the appraisal process okay um because obviously we i've spoke about this a number of times of how my family was robbed of thousands of dollars doing during the appraisal process and one of the things in speaking to you what i came to find out was something called the amc can you explain what that is so um amc stands for appraisal management company so when the market crashed the government said it was the bank's fault in the praises so they took the control away from the banks and the brokers the mortgage brokers um they took their appraisal um control away from us that process away from us right we can't have direct contact with an appraiser so when we do a deal we go through the appraisal management company the appraisal management company now picks from a round robin of appraisers that's approved with whatever lender they're working with and then they're the ones who have the communication with the appraiser they set up the the the order with them you got to contact this person whatever right in my mind i'm thinking the government did this because it was like if i was an appraiser i know you worked at the bank you telling me like yo just rate give them a good rate so we can make money on the deals is that why it was kind of like this let me tell you how i went to tell you the story let me tell you how it went in the wild cowboy days it would say yo giovanni i need this deal to go to 800 000. i know it's probably only worth seven well what can you do we can make we can pay you extra and giovanni will come back with an appraisal report of 800 000 and there was no systems in place back then and no technology like we have now where underwriters were really vetting that appraisal they would just close on it right they would take their word so the market was being deflated and what they're saying is true you know this coalesce made this pain we had too much contact right if you're an appraiser and you know i'm sending you a lot of business look if i need you to make this happen make it happen and they would because there was really no regulation behind it now with the appraisal management company that's out of the window you can't even talk to the praises it's illegal for us loan officers to talk to our praises now so i don't know who the hell their appraisal is going to be on the deal until i get the actual report and even when i get the report i can't make contact with them if i want to dispute something i have questions i think there's errors it all has to funnel back through the amc and then the amc goes back to that appraiser to make whatever corrections and so my thing is like and i've seen this a lot is like i wonder how many people look like us that are in this management company oh slim to none because in most cases right we need black appraisers we need we need people that look like us going into our neighborhoods valuing our property right because we know the true value of our areas in our neighborhoods most most of these folks don't and that's when you see people um getting these homes appraised and like your your situation they devalued you yeah came in spent ten minutes here i paid them seven hundred dollars devalued me we lost like a hundred thousand on a deal it's terrible you know it's terrible so if anybody's looking to get into the real estate industry looking to become an appraiser um there's a serious need to become an appraiser and especially if you're a minority this could be a good way for you to learn the real estate market because you're learning how to value properties right and if you're going to invest what better like knowledge to have than being an appraiser yeah that's right it pays well and it pays well 10 minutes 10 minutes but you got to think about it though it doesn't pay that well no more for the appraisers right because now you have that amc or the company so now the amc has to eat too off that same fee so now the appraisers actually make less and that's why you see a lot of sloppy work now right because they're not making as much money as they used to now what you see a lot of now they'll make the so there's two there's two um appraisal reports right it's either going to come back as is or subject to repairs right so if it comes back as is i mean the house is fine how it is right but it comes back subject to repairs then whatever the appraiser list on that report that needs to be repaired it needs to be repaired prior to closing and then they have to come back out and do a re-inspection that's another trip fee that could be an extra 150 to 500 just depending on the property type and everything like that so that's how they're making more money you know what i'm saying they're making up for that loss is because now appraisers are going in and they're looking for cracks they're looking for mold they're looking for whatever's out of out of out of order you know what i'm saying so that way they can put that fee back on the appraiser is different from the home inspector right even even though they come in they look at the property they may say hey you need a new furnace hey that bathroom needs new plumbing that's different from the home inspection great absolutely home inspection the home inspector is coming in to look at the house and they're going to see about the mechanics of the house to make sure the roof the boiler the heat deployment electrical everything is where it used to be and what they feel like needs repairs and what's the cost to cure um those repairs right and then they're going to give you probably a 30 to 50 page report with all this information in there right telling you this is wrong this is wrong it's wrong so the home inspector is going to be thorough right they're not spending 10 minutes they're spending two three hours you know depending on the size of the home and they're looking through everything but even with a home inspection you're really not going to know your home until you live in it you know but this will give you a good idea of what you're buying right so it's very important get a home inspection and there's a lot of times that i'm starting to see on deals where folks are opting out of home inspections because they think it's a good house or it was just recently renovated if it's a flip definitely get a home inspection because these investors are being cheap with their materials and they work so you need to go in there and double check and have somebody with professional eyes that you don't have to kind of look at this stuff because a lot of them are putting um cheap materials yeah i'm thinking like yeah they're probably going to bring the cheapest material to get it done the fastest absolutely house the quickest absolutely they trying to turn and burn you know what i'm saying so don't don't um devalue your your home and home inspection you know what i'm saying make sure that you you take serious notes you're looking be there you know ask questions learn about it because if you're going to invest that's also free not free training right because you're paying for it but it's still training if you if you use that information that you're learning because now they work for you now they got to tell you this stuff right what's wrong with this blah blah blah blah now you're starting to learn right so that's another hack so to speak if you're trying to get into real estate and you're buying your first house take the process serious learn the entire process everything that you need to know so that way when it's time to do more deals you already have the knowledge no one can take it from you you have the blueprint you have the blueprint so you know one thing that uh earning a legion we're not just tied to america we get support from all over the world like literally we get tons of support in canada shout out to toronto shout out to montreal shout out to t shout out to vancouver shout out to the whole country canada shout out to the caribbean all the countries in caribbean shout out to dr shout out to pr shout out to jamaica shout out to antigua you guys are like number one in all these countries yeah the uk is a big hub for us shout out to london shout out to everybody out there and shout out to everybody in africa yeah we've been doing a lot of stuff in africa yeah shout out to the whole continent in africa shout out to asia shout out to all over the world absolutely every continent so you know a lot of most of our content is kind of you know based around america because that's where we're from that's where we live but we want to talk to people and give people information that because you know a lot of people live in especially like the you know london toronto jamaica they they have family in america and you know they go back and forth and they might want to invest in america so there's different programs and things for like international people as well right absolutely absolutely so you have what's called foreign national loans where if you're not um living here or a u.s citizen you still have the ability to get a loan and buy investment properties here in the u.s so it's called the foreign national loan um and depending on the lender you can put down as little as 20 to 35 down payment on these loans um and it's not a real difficult process to um get approved for foreign national right um there's only a handful of lenders that will take these type of loans um there's not too many of them um so if you are you know overseas and you want to get a foreign national loan just do a simple google search and you'll see a bunch of lenders that will come up that'll tell you there are different requirements but the baseline of it is no credit score requirement because obviously you're not u.s citizen um some some lenders will want you to have a u.s bank account and have the money transferred over to the u.s some lenders don't they'll accept the money coming in from overseas the day of closing but a lot of them want you to have the money in the u.s already uh so check with the lender for for their particular guidelines on what they require um if you're self-employed then you have to get a letter from your accountant or your cpa just verifying where your income is and how long you've been in business a lot of good standing and things of that nature if you are w-2 employee i'm not sure if they even call it w-2 employees over there but whatever you guys call it if you work for somebody and you get a paycheck from someone else then we have to get a letter also from your employer just to verify your employment um some um lenders will rub i'm not rob but run like you do a certain country i forget the the name what they call it just do make sure you're not on like any um terrorist list or anything like that um fair enough you know gotta make sure that you're not you know doing nothing crazy out here but you know there are options out there for foreign investors to invest here in the united states and buy investment properties i've helped tons of foreign investors especially in the philadelphia market like you know a couple years ago everybody in china was coming to philly and buying up all of philly right um shout out to my guy um malik caught out there in philly um we did a lot of deals out there together but um shout out to my god real estate coach carter but um yeah there's opportunities out there for foreign investors to invest here in the united states so covet slowed it down a little bit so you know it's not too many banks like it was prior to covet that are doing it but you can still you know find good financing out there what are some of the biggest hurdles that stop people from buying homes credit score is it down not having enough for the down payment because that's something that you know a lot of times people is it just not having a proper education like what is it above you know not having a proper education um first and foremost that's the biggest thing that i see people don't they fear what they don't know right so most people who don't buy a home and when you speak to them they don't know nothing about the process they don't know nothing about loans they don't understand interest rates it's just overwhelming for them right so that's first things first is the knowledge then credit credit is probably the second biggest thing people have bad credit out here and they need to get worried about fixing their credit and stop spending so much um then i would probably say cash the capital you know i think that's probably the third thing that i see that hold people back is especially in cities like new york la was very expensive to buy real estate you know a two family here is a million dollars yeah right you got to talk about you need probably 3.5 plus closing costs i mean before you know it you can be close to 100k you know that you need to buy a house so it's a it's a lot that happens uh i mean it's a lot that stops home buyers but these are the things that i see the top three that's not the lack of education um credit and capital yeah i like what you said we don't know what we don't know right and and part of that is the questioning so like when we're getting into this process what are some things when we're trying to find the right loan office or the right commercial bank or investment bank what are the questions that we should be asking before we take that step when you're interviewing your loan officers right oh man there's tons of questions that you need to ask them first of all do they own any property themselves right are they are they investing are they homeowners themselves right how long have they been in the business very important question to me because look there's nothing wrong with rookie loan officers right but they don't have the experience they don't have the the product knowledge yet they don't know how to maneuver right they're going to be more reactive than proactive because they're learning on the job so i experienced you know how many deals are you really closing how many did you close last month right so just to get an idea of what that person is closing how many people are they really truly honestly helping um how much is a seasoned person how many numbers how many closings are they having a seasoned uh loan officer i mean you could be seasoned and still you know not cool right right so i mean if you're a top producer in my opinion you closing well over 100 plus deals a year you know if you're a top producing loan officer but the the mega producers are closing a couple hundred loans a year okay um you know they're out here really killing it um so but you know the average loan officer is probably closing four deals a month somewhere on there which is not bad you know depending on your your compensation level you can still make great a great living closing four or five deals a month um but you know you want to ask these people these questions um do they have a team very important especially in times right now where everybody's overwhelmed and busy are you the only person that they're going to speak to right so team is very important do they are they underwriting their loans in-house right is their underwriting being sourced to somewhere else or what kind of control do they have you know these are all the things that are very important because you want to know that your deal is going to be able to go through the system with no issues so speaking of the mortgage industry and working with a mortgage professional you're a mortgage you're a loan officer correct so we now we haven't had this conversation either we talk about like investing in real estate but there's always two sides of the coin so you can make money actually working in real estate as well like you know we we've interviewed kyoto kiana watson we talk about like being a a real estate agent or realtor um so like how what are the opportunities for people if they want to become like what you are as far as a loan officer how do you do that like do you have to go to school for that is it like a test that you take like how do you how do you get hired like what's the deal well so first thing first you have to get licensed right um so you have to get licensed you have to take the safe test and that's i think 25 25 hours um which is not a long period of time that's not a lot of hours right you can do that in a week um you can do it online with no problem cost you a couple hundred bucks um once you pass the class then you have to take the federal exam and when you pass the federal exam then you have to submit your information to nmls you know national mortgage licenses system yeah that's the acronym you keep saying yeah actually and i'm saying that because i'm official yeah i'm telling you i'm a licensed loan officer like i'm not an internet guy i always say this right and that's why i started saying my license number wanted to be compliant at one point i knew about her yeah i heard it on every video now like right every video is like mls number five i almost forgot five right but it's important um that once you once you pass then you you submit all your documentation got to get fingerprinted um i mean we getting your credit gets looked at so you can't really have bad credit if you have any issues on your credit you have the right explanations of why if you have outstanding child support things like that this is serious this is not like you just when i came into business there was no licensing they literally gave me a phone book and said call people right i didn't know a damn thing but now after the crash they make people get licensed now um so if you're a licensed loan off shout out to all the licensed loan officers by the way um that's how you start to get licensed but that doesn't mean you're going to get a job right because most banks right now don't have time to hire and train new loan officers it's too busy right so you have to find um either a mortgage company a mortgage broker or even a big bank right that's willing to take the chance with you and hire you or i would recommend anybody looking to get in the business try to join a team right because if you join the team like i run a team right around my own division so but i won't hire nobody no sorry not right now and try it not even not right now please don't hit me up on that you need two years experience minimum right but um there are there are people in my position that will hire new people because they they may have the capacity to train i don't have that capacity right now unfortunately at some point i will but not not today right um but get on the team so that way you can get that experience you can get that training you can mess up um and have somebody to guide you and hold your hand because there's a lot that goes into originating alone people think you know especially with the digital stuff that we have and the information and technology era that we're in it's so easy to go on these websites and people get a pre-qualification letter and they think it's just so easy right it's not that easy it's some these guidelines if you look at the underwriting guidelines even for like a fha loan right the underwriting guidelines is over a thousand pages that's a lot of information you know what i'm saying and we have to be guideline goats like you know what i'm saying like we have to know our guidelines this is our bible this is this is how guidelines this is how we make our living right so for me i study these guidelines i live in these guidelines they they tell you everything you need to do to execute right and and then you have to now be able to articulate that to someone who has no clue right so it's not it's like what are some of the guidelines that you have to memorize man everything guidelines change today or certain things right like especially in covent right things are changing rapidly it seems like almost every other week there's something coming out from the government saying this or that right especially with self-employed borrowers making sure that their businesses operate and and running if you if you're buying investment properties they want to make sure now that rent is being collected especially if you're refinancing and you're using an income to qualify right we got a document you're receiving rent now right there's a lot that's happening and all that i discussed in the blueprint by the way but there's a lot happening in the market right now and it happens at a rapid pace we wake up and the guidelines are changed and then we have to just learn them and adapt and it affects every loan that's in the pipeline sometimes they'll give you like oh it's going to be december 1st or january 1st 2020 but sometimes they say effective immediately yeah i remember we had a conversation uh i was reading an article and um i think they gave you like a week i think it was september it was for the refinance fee yeah yeah they added the refinance fee and the whole industry got pissed off like the entire mortgage industry was pissed right and they didn't a they delayed it to december first what what is that so they added so fannie mae and freddie mac came out i think this was august that they're taxing lenders now basically saying hey you're doing a lot of refinances rate is low we need to make some of our stimulus money too basically and we're going to tax y'all a half a point per every refund that you're going to sell to fannie mae and freddie mac effective immediately so that means that you're going to sell to them right so they basically said we want our money and you have you can have a pipeline of a thousand loans 2 000 loans in your pipeline right now you gotta pay a half a point per loan that could be 20 30 40 50 million dollars worth of loans a hundred million dollars a loan times a half a point that you didn't expect they're taking your revenue right but they're not going to take the lenders i know who it is it's going to take your revenue right yeah you're going to get charged i'm going to charge you more we're going we're going to charge you more because we're not going to pay for that right and anytime things like this happen it gets passed on to the consumer like the lenders are not going to pay for it you know so the industry went crazy and they decided to delay it to december first um so people who are originating refinances right now that half a point is already built into your rate sheets already you know what i'm saying which in town made interest rates for refinances depending on which lender go up by 8 to 3 8 of a point over the past week because now as long as that's sold by a certain period of time so we have to cut once loans are closed it takes a while for it to get sold to the agencies you know what i'm saying so you got to price that in now because you don't know when they're going to buy it from you you know what i'm saying so there potentially is going to be a spike in refinances i would assume it's already a spike because even more so in november it started right now because people people want to get in before december first but they don't understand that it's already started for them right because they think december 1st then it's going to start no it started already because the loans that if i take an application october 1st is not closing to middle of november maybe december depending on through the volume right this it's already you're already getting sold at the december 1st so that fee has to be already priced in already you know what i'm saying so like well if you got an application after october 1st you probably don't even know that you it's already built in your interest rate i want to talk about the education because it's like when you told me you was doing this blueprint and i really thought about it i'm like you know all he is how we go to school high school college they never really teach you how to buy a home and if you really think about it there's a lot to go into buying a home right it's like where do you start do you look on zillow do you look online do you get a real estate agent how do you know which mortgage because it's not like it's just one kind of mortgage it's like a va loan there's fha loans it's jumbo mortgage loans so we talked about bank statement loans foreign how you know if you're not getting ripped off right how do you know if you're not getting the best interest how do you know if you're not working with the best professional if you're doing a rehab project how does that work like and it's like if and that's my whole thing with education is like to me that's the greatest investment so it's like yeah you kind of sometimes you pay for convenience right because it's like if you're a single mom you got three kids and you're making it you're making a nice amount of money you can buy a home but the money's not really the issue with the time that's the issue absolutely right or if you're you're a dad and you're working two jobs you you're making enough money but you don't have time you don't have time to scour youtube for 37 hours to try to put different pieces together so when you told me that she was doing a blueprint i'm like that's crazy because i never really i've never heard of anybody putting together like a curriculum for home buyers like but to me that makes perfect sense because like i said we don't learn how to buy a home in school like you literally have to figure it out and especially you might not have had parents that owned home absolutely so it's like what was your inspiration in developing that curriculum honestly the people right um you know the all the followers man people who reach out to me you know every single day asking questions that i think they should know already you know what i'm saying and when you really hear you know folks asking the same questions just in a different language it's like okay you know there's google and youtube university right and they're not taking the time to google or go to youtube university and if they are it's so much information that they don't know what to believe because it's all contradicting and stuff right um so what mean well i would say this too folks been asking me to write a book for first time home buyers and i ain't gonna hold you i'm not writing a book like i don't have time to sit and write no book and do all of this stuff so like i like to do videos i do content so that to me was like a natural thing like wait a minute instead of me doing a book called the home buyers blueprint volume one let me just do a course and do it to where it's you know super detailed from the beginning to the end of everything that i believe that a home a future home buyer should know you know from getting started how to prepare your file what's the income documentation that's needed for the different sources of income there's so many different sources of streams of income now from you know you got market monday you got stocks you know that's capital gains right you can use capital gains as income if it's filed properly you know i'm breaking all this stuff down people don't think about that you know capital gains income you're not thinking about well if you get money from a trust if you get money from rental properties like i'm breaking all of this stuff down so that way you don't have to really think about it like it's there um we're breaking down all the three i think most popular loans out there fha conventional va loans and you know those those chapters by itself i mean they're like two hours long so like the these these these chapters are filled with just information you know how to get approved what a lend is looking like and i'm talking from an underwriter's perspective on this tool which is very important i'm not talking to you as a guy who just did a couple of homes and and you know here his his course right i'm teaching you from the underwriting perspective of what we're looking for and how you can avoid this and what you have to do to get approved for this loan that long or that loan right then we're breaking down home when you're out home shopping right what to look for how to hire the right realtor you know how to hire the right loan officer what's the difference between pre-calls pre-approvals discount points which people don't really understand how to determine if you're getting a good deal or not you know going through the closing costs people don't even know it's closing costs sometimes it like blows my mind they don't even know it's closing costs and they don't understand why it costs so much i'm breaking all of this down how to read the closing disclosure so that way it's not foreign to you you understand how to read it and how to analyze it i'm giving you tools in this to where you can look to see where the market rates at to see if this loan officer or bank is quoting you something that fits in line for where you need to be like i'm breaking it all down step by step blueprint for you to get your game on track not your wick push real estate commitment you know presented by himself like we trying to get you on track like this is about making sure that you are fully knowledgeable about the home buying process because it's a process it's not like i know everybody on the gram you see them with the boomerangs and the keys in the hand and the big-ass keys you know they're at the closing table drinking the champagne ribbons i don't shimmy you know what i'm saying like the shimmy no oh yeah they work hard to do the shimmy you know do your shimmy do your boomerang celebrate your success as you should right the professional the homeowners the sellers celebrate it but for me i'm like yo there's a lot that went on to get you there what happened right so when i when i try to post anytime i close i like to post a story i want the people to talk about it because i really feel like they can educate now the people behind them because they went through the process so the blueprint is giving you again step-by-step booklet for you to get your game on track not your would push back get it apply the knowledge it's 12 hours 150 videos it's a lot of information there's pop quizzes in there this is for not just for the first time home buyer i want to say this too this is for the new real estate agent this is for the new loan officer you guys are getting newly licensed but you're learning the laws the licenses are based off of laws it's not based off a product knowledge it's not based off of that information you have to learn that on your own and as a newbie it's kind of like overwhelming at first it's like what the hell does all of this mean what am i doing you know what i'm saying so if you want to get into the business this is a good step for you a good training manual for you so you can understand how these products work especially for the realtors there's a lot of like new york i think probably has 30 000 licensed realtors who knows right 85 of them have no clue about the the mortgage process they have no clue about mortgage loans they're so uneducated when it comes to this stuff they can't have conversations with their clients to educate them more you know the great realtors understand products like shout out to kiana you mentioned her earlier amazing agent she understands loan products right we have conversations about loans she understands guidelines those are the realtors who are the most successful who can put the deals together right and from the mortgage to now to the closing table and make sure you get a seamless transaction so this blueprint is just not for the first time home buyer it's for the up and coming real estate professional who want to learn this business yeah even when i looked through it man as a homeowner i was i just learned things i was like even from the the appraisal contingencies and sales concessions and refinancing i was just like damn there's so much i didn't know in myself and i have a home absolutely and i went through this process myself and learned and so i i mean kudos to you for that man it's like you poured 20 years of your life and you duplicated yourself and gave it to the people yes like look here you go invest in yourself right you want to buy a house you you can this can save you tens of thousands of dollars in closing costs and or unnecessary fees if you retain this information the proper way right and if you and if you utilize it quite frankly i'm teaching you some refinancing folks don't know about refinancing right that's important part you got to know how to refinance people just think i'm gonna just go to the bank who has my loan okay great but what's the process what's your strategy behind it and this is kind of why i included refinancing and homemaker line of credits into the blueprint so that way folks understand how these products work after you buy the house if you want to restructure your debt because refinances are just restructuring of your debt but you need to know how to restructure it and so that way you understand if the timing is right okay i already have all my ducks in a row hey linda close me yeah you know what i'm saying no it's crazy like troy said like you know you don't you never really realize how much information until you actually look through something so when i was looking through it i'm like that's a lot of information and it's like yeah i mean you know god bless you if you could figure if you know all of this yourself or you could figure it out but uh me i always invest in my education that was the first thing i did um when i was 17 years old like my first real purchase wasn't a car i didn't have a car until i was an adult really uh robert kawasaki um i not only brought the book rich dad poor dad i brought the course like the cd that's when courses was the cds cds it was cds and i mean i i never really regretted that i forgot how much i paid a couple hundred dollars like that at the time i was 17 years old and i i realized the importance of investing in my education back then and actually it was funny because i i was in prep school so i was in school when i brought it but i knew that self education as mickey facts would say self education makes you a fortune formal education can make you a portion but self-education can make you a fortunate what a bar that's a fact shout out to mickey man i have to make it faster that's my god man so now i salute you and putting that together man i know that was a lot of a lot of work a lot of long hours so yeah so you know also i know you're doing something special right absolutely man so look i love eyl i love everything about the platform and you guys played a major role in um my popularity um on social media and people you know finding out who i am and learning learning the mortgage business and being able to help people execute on their real estate transactions so i'm dropping the home buys blueprint right now right like right now surprise surprise it's good drop right now so the regular price on this is 700 bucks guys right but for all you guys all the earners for all the ey l nation out there all right we're gonna do 50 off okay 50 off of the 700 which is 349. um i'm gonna do it for the first 500 people all right so if you go to my instagram page mg the mortgage guy you can click the link in my bio right now the link is there for you to purchase um again it's 700 bucks 50 off um for the first 500 people um shout out to eyl that's that's um nation um look and i know i know we're gonna have people in the comments so i'm gonna address this now yes you can probably find a lot of this information for free right yes you can go to google you can go to youtube university blah blah blah great do that if you want to right but this again is a step-by-step blueprint for you to get your game on track not your wig push back there's nothing in the market that's comparable to this you can't go to youtube and find 150 videos that's going to lay out the entire process for you and it's coming from a credible licensed professional that does this every single day and closes hundreds of loans a year right i'm giving you the game these youtube videos this google can't teach you what i'm teaching you and for you to be able to understand and be able to apply it so like you go to college a lot of stuff you can learn without going to college but a lot of you paid 30 40 50 100 grand trust me because i see your credit reports the great thing is i never reported i never understood that like you know it's like you pay 50 000 to go to liberal arts school to um major in history yeah to put yourself in debt because you don't have the money to pay it absolutely to be broke and you don't want to invest in your education a couple hundred dollars to get you thousands yeah what you what you left out um when you go to youtube university is how do they assess what you're learning and i think that's one of the best things about your blueprint is like there's assessments right you can't go on until you actually absolutely learn the from the video you learn you retain you pass your assessment now you move on right this is a course this is not just videos and and just youtube type of content this is a course this is a lecture right right you go to college you'll spend all this money but our people in our community is if it's free it's for me right like i want it because it's free but no you have to invest into yourself right i invest into myself for almost 20 years in the mortgage business i'm constantly taking courses and classes to better myself you know i'm doing so much i spend so much money on my brain right to feed my brain so that way i can have intelligent conversations with anyone in the room and i know college i'm a college dropout they didn't teach me nothing i wasn't interested and i and i don't remember them having a home buying course or class in college which they should but they don't have it you know what i'm saying high school they don't have it they don't talk about any of this stuff because they don't want us to know this information so yes can you get probably some of this information for free on these other things absolutely but ultimately at the end of the day nothing's going to be put together for you where you can have this for your life and i'm going to update it and that's another thing i don't even think i told you guys that i'm updating the course as guidelines change you know what i'm saying so guidelines change 10 20 times next year there's gonna be new videos in in this course added to the situation adding to the course every time something is i noticed volume one at the bottom yeah then it's volume one right so this is volume one but i'm going to keep it's going to continue to go because you're going to see 2021 updates you know fha like i have sections for this already that's not going to be published now obviously but once it it happens because it will happen it's going to be in the course right so if someone is looking to buy a year from now they can take this course and get the updates all through the year and be in position and ready to execute because now they already know when it happened this is going to happen real time if i get a guideline change today it's going to be in the course tomorrow you know what i'm saying and i'm going to put out the emails to everybody hey this new video was uploaded to the course make sure you check it out it's very important whatever et cetera et cetera then we got volume 2 coming out yeah all i'm thinking about is in school when i was in school hence the the whole conference i was in school right and you you bought a a book one semester and the next semester was a new addition you had to pay another 350 for it absolutely i'm just like oh damn they could have just updated it there's only two different pages exactly but you got to pay another 350 400 for a textbook that you and then you're like you're never going to use it ever again you might use it you you nervous during the semester but once once that class is done you ain't never used no this is something that you can use you know for life and then also now you can teach your inner circle and your people in your community behind this material and and keep that going that's important man everybody gonna need a place to live so that's important absolutely appreciate you brother appreciate you brother so once again man y'all definitely need to check out that blueprint it's in matt's bio it's we're gonna put it in the link um in the description of this so if you're watching it on youtube or if you're listening on apple spotify we'll put it in the description we'll also put it on our website uil yeah earn your leisure dot com appreciate that yeah we'll put it on on the alumni tab on our website so uh matt man once again bro it's always always a pleasure how can the people um hit you up if you have that you want to do that how can they follow it how can they follow you that sounds better yeah so look mg the mortgage guy on um instagram or youtube um you can guys follow me then please don't dm me um if you do dm me you will speak to the autoresponder i'm so thankful for facebook for showing me how you can put an autoresponder in the dms um and i say this humbly because just too many people reaching out and i can't i can't answer everybody's dms and that's why i did the blueprint because a lot of the questions you guys are asking me it's in the blueprint so now just go get it and you'll have all the questions you need answers so if you do dm me understand when you see that quick response that's the order response right that's just not me um but i do jump on lives all the time um on youtube and instagram and i treat those like home buying seminars right i bring people up for q and a's all the time so if you attend one of my instagram lives or youtube lives you'll see you'll learn a lot from that or uil university almost importantly most important he's a lettered faculty member at eyal university i am a letter faculty member at e and i need a varsity jacket who knows but you know i am a member of eyl university um i have classes um two times two times a month five weekly yeah i don't even want to call those classes we call that the break breath session so every other sunday i host a break breath session i mean our longest break breath session was four hours guys it was crazy and there's like a couple hundred earners on there and just it's like q and a all day long and just camaraderie shout out to all the earners man i love these calls i look forward to myself when i have to do this i just got to tell them like hey look today can't be four hours maybe i gotta tell them in the beginning like listen two hours follow the guidelines can't ask 18 000 questions but you know it's a lot of information being pulled in these sessions and we're talking about everything real estate right from commercial real estate we're talking about residential real estate so it's not just for first-time homebuyers these calls it's you know everybody's at a different level so everyone's learning at a different level and the beautiful thing about ewl university there's so many different investors a part of ewl university and they're on these calls and they're giving game to the other students right so it's just not me talking all the time there's other folks that you wouldn't even know we got guys in that own 20 30 properties you know and they're doing big things and they're they've invested into uil university become part of the community so if you guys are not uil university members you guys need to become an ey lu member today i'm telling you it's the best investment you can ever do there you have it ladies i don't even know what to say now nah nah we definitely we definitely um we're thankful that you that you you know are a letter to faculty letter jacket on the way i appreciate that yes yeah we gotta do something right because now he's been here twice so we call them alumni we we might have to i'm gonna think of something yeah we need a new name for that like yeah graduated uil with honors we're honest two-time double header i like that knocked it out the party double major so that makes it even more special damn that's fire shout out to me troy housekeeping yeah shout out to everybody on patreon.com y'all know that's all proud to pay program our tier five members have access to myself and shouty uh so i just want to give a big shout out to leslie who joined at tier five and my man jay shout out to you i can't wait to talk to you my brother and uh shout out to everybody that's part of our investment group on facebook and all of our members on eyel university um it is an incredible place to learn like you said i mean you you just put it out there man but like being a part of the investment group on facebook is just incredible because you get to watch people say like yo i'm in philly i'm looking for uh somebody that's in construction or i'm in atlanta i need a realtor so yeah it's just a a huge community management purchase this property exactly i need a partner in this yeah and so it's amazing the community has grown man so shout out to everybody that's part of that and we appreciate you and shout out to everybody that is uh supporting the merch we got some really big things on the way we're talking about the merch the merch is on the way we got some new lines that are about to drop our collections are coming together really nicely and i can't wait to put them out for y'all to see it yeah for sure man so once again thank you guys for rocking with us matt it's always a pleasure bro um thank you like i said it's an honor to have you as a faculty member at uil university and congratulations on your blueprint yeah i highly encourage everybody to go check that out first 500 people uh 50 off thank you again for that link is in the bio now yeah right now so um yeah man we made history the first time we gonna make history again um thank you guys for rocking with us we'll see you next week peace peace peace my graduates from my school being forbes back drop back drop my drop back drop [Applause]

Channel: Earn Your Leisure

Views: 214,868

Rating: 4.9491987 out of 5

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Id: 4IonMeCJuGs

Length: 79min 33sec (4773 seconds)

Published: Tue Oct 13 2020