How To Gain TRUE Financial Freedom in Real Estate: The WINNING & AUTHENTIC Formula

so we've all heard that real estate builds wealth but this Duo is showing us how it's really done people want to buy the block sometimes the stunt we want to buy the block so that people can become first-time home buyers the reason you invest in real estate is not to make money it's to save money you didn't spend any money Jay you was that rude yes you ain't tell me that I would buy what you can until you can buy what you want that's good that's number one now before we hop into Today's Show be sure to like comment and subscribe now let's jump into the video Jay Tom man listen um you know I am all in the Jake's world and uh man what up Jake's family Sarah Tori my family right there um I saw he was a part of their event yes and when I saw that I was like wait if they're in that world and I don't know them I need to get to know them and so I started following for a little while and I was like Wow wait a minute she's really doing some amazing stuff in a real estate game and immediately I started to like hit you up but I was like nah there's a lot of people in this space that has unfortunately misled our people um as far as an into deals that are wrong uh deals that they've lost money on and everyone in today's day and time is an expert when it comes to real estate for sure and I think a lot of people are capping in that space so I I paused and I was just uh following both of you all for a while and I reached out when y'all was in the school yeah educating young black kids on the real estate and I said yo I need Jade at the house and Jay do not come by yourself who is that brother with you yes and I need both of y'all to come in because here's the thing man my my platform is all about getting out of that Building Wealth sure and then creating your own table and sitting at the head of your table I love that because oftentimes in a black community I believe we're the most creative but we don't own what we create I love that and I was like man real estate is one of the quickest way especially people of color uh on how we can start creating a table generating some income to go do other things that we may want to do and so today I just really want to dive into how did you two meet because y'all's Dynamic is unique you are very well known in Dallas Texas from the radio side from hosting events one of the most prominent names in that space um I remember before knowing who you were I remember your voice okay when I was coming to Dallas I'm okay cool and then you connect with Tommy so I want to know how are you all building well because you have several rental properties yes I do you're flipping homes with him and I've heard about that and I've I've just been scared to get into it but I'm curious to know how how did you all connect how did you all start making money because y'all made multiple six figures in this whole space but I want to go to the very beginning right how did you get into it okay so one let me let me back up because you said you're a little bit afraid to get into this space absolutely I want to say this fear it can be good and bad right okay um fear can paralyze us it can stifle us it can keep us from building the wealth that you know God has for us right on the flip side I do think that fear in a cautious sense is good so the reason why I want to bring that up is because um I am not the expert in all of this right um I found the expert okay and I found good mentorship okay and I think that oftentimes in our community um we try to do it by ourselves yeah because we're afraid of people because and we don't trust people we do not trust people and don't get it twisted I did not trust him in that aspect when I first for real okay so so Tommy so I was on the radio in Dallas for 19 years and Tommy actually came in to promote an event okay we clicked from then but it was more on a like Mentor like he literally became like my life Mentor right um because he is a you know an older gentleman that loves the Lord very genuine every time I was in his space and so we just kind of formed a friendship right um but over the years I was watching what he was doing in real estate and I'm like now hold on a second like you are doing some really really big things and I would like to tap into it and I'm not afraid to ask for help okay right so he told me he it was so weird he genuinely told me like all right sis I'm gonna teach you how to do it as soon as he told me that Anthony I said oh he a scammer because ain't nobody gonna just let you come in and like teach you you know what I mean and like he really took me under his wing wow how many months did it take Tommy for me to literally like I mean like really put let my guard down I was questioning I would like everything you could possibly think I was acting like he was my man Anthony like I was asking for nine months yeah but these are not much but here's what I'm really trusted but here's what I understand about that I understand that I hadn't earned the right yet and it's a process right so when for so from the from just understanding people yeah and understanding what they go through and understanding that she's a Target because more people know her than she knows them right you know you have to be guarded right so I get that right so I didn't take it personal yeah yeah because what I say is consistency over time was silence to critics so let me just continue to be me and let me be everything that I say I am and then one day she's gonna be like okay okay and you know what I'm gonna tell you what the one thing you said to me I don't even know if you remember this um because I was questioning like okay so if everybody if I do this if I give you this money now I trusted him on a personal space okay yeah I was also watching him on a personal space because whenever you're a woman dealing with a man yeah yeah you're wondering is there an is there going to be a motive you're bringing me in to like kind of help me and teach me the game what do you want yeah what do you want from this so again it was a process he told me one day because I was just like right on the edge there was a check I needed to write right he said you know what you don't have to and he said Jade I get that you don't trust and sometimes God will put people in your life to help heal the hurt that they did not cause and when he said that to me he did say that I said you did [Applause] so that was the beginning for me to be like this man literally has been consistent he has taught me he has answered my questions he didn't get offended by the questioning and I think that's what a lot of mentors need to pick up on people don't know and people do are used to their like you said you started off they're a bunch of scammers out there there are a bunch of people that just want your money and will run away with it yeah if you're a good Mentor you're really good at what you do guess what you don't mind answering every single question until that person kind of releases right and so yeah we ended up doing our first property together which that was the biggest check I've ever had to write in my life and even still sitting at the table like talk about praying I was like God please don't let this man be like you know but I I wrote the check and I bought the property wow buy the property together it was at your property and he was guiding you and that was the thing I was like this isn't my name not our name so I'm looking at everything I'm like I have nothing to lose but just don't be looking like that but that's just backwards how are you as the that part mentor that part profiting off of that part that part relationship like what what is the end it was more about trust at first so you was like okay I need to gain her trust I need to gain her trust so I said okay we'll put the property in your name I'll put up all the money for the rehab I'll bring the cruise I'll do all the intellectual property you watch me but at any time it's in your name are you ready to transform your career in 2023 I want you to consider Bethel School of Technology the world's only Christian online tech boot camp with African Americans representing just 7.9 percent of the tech Workforce in the U.S it's time to bridge that Gap and create more opportunity is for everyone in this booming industry Bethel Tech is committed I mean this they're committed to providing accessible lucrative and fulfilling Tech careers for all individuals in their comprehensive nine-month program you'll Master essential skills to kick-start your technology career today the earning potential is crazy impressive indeed reports that software developers in the US earn on average about a hundred and three thousand dollars per year what choose from programs like cyber security and UI ux design and ignite your Tech Career with passion and with purpose forget about accumulating and racking up debt and invest just nine months to revolutionize the next nine years of your professional life Embrace Your Potential with Bethel Tech and achieve your career aspiration today hey visit Anthony o'neill.com forward slash Bethel or click the link in today's show notes to register and take the first step towards a bright future in technology hey talk about a bright future let's get back to Today's Show now I don't advise anybody else to do this right right because you know her care because I know her character because because because I I had a 19-year head start right watching her right through social media through the radio she didn't know me right right so I get it yeah so I want you to know I'm not coming for nothing other than the impact that we can make together in our community that's all I'm interested in yeah so in order to to show you that that's what I'm doing you put it in your name and I would have been screwed now I would have put a lien on it but that's neither here [Music] did y'all have something in writing at least hey this is a partnership yes oh okay cool so you're very generic very generic it was not the whole we did not get lawyered up dude like you should right right right right right and like you said you should but you had a 19-year head start oh knowing who she was you know where to find it yeah yeah I know where to find it right and and she's not that chick I had to convince her I'm not that dude right so I'm like I'm betting on me I'm betting on my skill set I'm betting on what I know I can do okay for not only for you but in our community you have a bigger platform than I do right so I need you not to use you but to amplify my voice in this space yeah yeah yeah yeah yeah so let's partner wow yeah so how did you feel about that though when you cut that check what was going through it [Laughter] yeah the night before now I have known this man for probably at this point two or three years but we're just now about to do business yeah which is a whole other thing it is yeah oh yeah even if I ever told you that you told me oh I did you told me drunk or something no no she Googled me research and scale I was looking up in social medias and being like is he who he says he like okay again this man has been mentoring me as a spiritual Mentor for three years yeah but I'm but I got all three of these years like like crazy isn't it you know we're it's the we have a lot of healing that we need to do right and so it's bigger and I say that all the time when people are asking me about like should I you know should I jump on the world through real estate team should I do this and I'm like I can't tell you that um but we do always approach everything from a non-trusting standpoint because we have not healed from a lot of past trauma right and I think that through this process I learned that about myself right um so yeah trying to write that check that night the night before I was in panic mode and I was trying to think should I back out of this gotcha but he mentioned something earlier that is a really big deal to me um he mentioned building our community okay right and so when I look at somebody who wants to partner with me or Mentor me or a team that I want to be built on it has to be more than just money yeah yeah the money will come Anthony yeah um but that to me was was the bigger deal and we used to always say this thing about buying the block right and you know people want to buy the block sometimes the stunt we want to buy the block so that people can become first-time home buyers we want to buy the block so that we can hire minority contractors and be feeding those families and you know putting money in the households of people that look like us right we want to buy the block because we want to be able to have the proof yeah and then I love the fact that he is duplicating himself and showing other people the game and I think that's what everybody wants to know is like the game but the game legitimate right and it doesn't have to be over your head when you're learning it can be simple and one thing that I always strive to him and we do this well together there's a really great part of real estate there's a really great part of investing but there is also an ugly side to it yes and his motto is what is it about the stomach you got to have the stomach you have to have the stomach for this because everything is not going to go right it's not going to go right it's not and so in in Topeka back on what Jay is saying Anthony is that like you take some of the young contractors that we that we have impact with like there's this young brother that he's he's a uh he's a licensed electrician right and so uh he reached out to me uh through social media he's like hey man I just need a shot you know I made some poor decisions in my past I just need a shot I'm like okay well come on out so he came out I looked at his work from some I walked some of his previous jobs you know I gave him a job he did a good job I gave him another job he did a good job and then that other side showed up why you're not winning so I didn't kill him I pulled him to the side and said this does not have to be a hustle God has anointed your hands in the area of an electrician but you're looking at it as a hustle I said I want to teach you how to make it a business so I helped him get his Ein I helped him get I helped him get his paperwork right right right right I said I'm not going to pay you cash I'm going to set your bank up and I'm going to pay you this way so now you have a track record so now this guy is getting government contracts and stuff but that that's part of the ripple effect of wealth through real estate right us us not only creating our table but holding the door open and letting other people come in and sit down and showing them the blueprint and say man it doesn't have to be a hustle yeah yeah no that's real man I moved I bought this house and this house was built like in a 19. I want to say like the early no this house was built in 2004. okay so it's old and when I moved in um it's a big home and it was so so outdated and the uh your rental is off the chain bro listen but check this out so I found this guy a literally true found this guy I was a painter he painted my house horribly to paint this whole house how much you think it would have cost me how big is else uh right at six thousand retail uh inside and out or just inside just inside inside retail should have been about 10 to 15. he charged me fifteen hundred dollars yeah 1500 and this is the guy that did it horribly horrible job of course but then he records you can't even buy a paint no paint budget for this house is about two thousand absolutely you did it for 1500 yeah and so um but then I said hey man I want to knock out because all this was not in there um all this was was not in there okay right and so um I was like hey bro I need a contractor he hit me up and said hey man I know a guy but he doesn't have the proper paperwork correct but he's good he can do everything he can do everything that's all right man bring him over so he comes over I said all right man I want to knock out this whole wall and make my basement open because I have my studio here and build a sink here I was like all right man I do it Jamaican which makes me we gotta talk about that everybody like why do you look at her when he says and so man I'm sitting here and at the end of the job I was like hey man yo so can you send me invoice oh no man no man pay me cash me yeah I said what about ketchup oh no man yeah no man no man and his wife listens to my show all the time what's up wifey um and and so I was like bro you we gotta get you right that part I said because I can't write this off legally if I'm giving you that part that part that I said so you not being legal impacts me yeah yeah and I'm like bruh I'm the money guy yeah you know what I'm saying like I need it I need to I need to write a paper trail I can't sit here and tell my CPA that I'm like yo bro I hear you yeah but if we ever get audited yeah nah bro I need paper trail proof you need to put it on a company car yeah do something to go to the bank cash out no no so we got him licensed man and he does every single thing and since he got licensed man he he don't have that much time for me but watch this but that's what I'm saying Anthony so when these when these people come to us like like we we specifically look out and we we look for people that's been overlooked yeah right we look for people that that that have the skill set but don't don't have the administrative skills listen facts and here's the thing that I get attacked often with my platform everyone knows me as the Dave Ramsey guy because I was with him for eight years so that's a very white world yes it is what it is very white Republican world I expect it love you Dave yeah um and that's my guy yeah but I'm still black that's right at my core that's right I have no problem saying that that's who I am and one of the reasons why I branched out of my own is because I wanted to employ black people so all of my employees or I'm calling them employees I call them team members yes um they're black I have one white person she's my publicist because she's a beast and she's living on all my stuff uh but outside of that I feel as if and I hate saying this because sometimes I feel as if this could also be a scam it's like I'm doing this for the people yeah I'm doing this for the black people and I'm like and I hate hearing that sometimes but I'm like I'm doing this so my black people can see it is possible that's it so that's it so you say that so what we say is that we want to be proof of concept that's it we just want to be a truthful concept yeah that that this is not a theory that was created in a sterile classroom and and so when people are saying uh Tommy you're posting four or five times a day I need you to see me in the field in the dirt yeah yeah I don't need you to see me just here or from a selling from a stage of what I used to do yeah I need you to see what I am doing yes yes and I am the proof that you can come from a non-real estate bank that's right and that you can still be successful in this game that's right you came from the radio background that's right um entertainment through and through I did radio in college first job out of radio wow I mean excuse me first time out of college was radio okay that's all I've known for the last 20 some odd years of my life radio so let's talk about the basics okay so a lot of my people right now who are watching they are either getting out of debt or out of debt just got out of debt okay um and I'm very big on making sure that before you launch anything on the business side it's your personal finances that's right are in place I remember I won't say the name of the event but it was a very very well known event and I was on stage and I was speaking before me uh this particular person 10 000 people in the building and I think that's probably why I won't get invited back um they said hey man don't worry about your personal stuff just rack up your business your business doesn't impact your personal so rack up all this stuff don't worry about paying it back because it can't go in your personal that's not true so but now I get on the stage I'm like hey respectfully saying this yeah and I pause I said that is probably the dumbest advice we can give especially our people yeah because if you can't handle your personal that part your business is going to resemble it's going to be a mirror how you do want things how you do everything exactly and then it's like me to being a spiritual guy if God has given me this resource and they can't do it that well then I can't Steward this well and it won't grow to be impactful so I'm like no get your personal situation fixed first so that way when you come over to your business you're good one thing about men I always say this the reason why I can sleep well is because I'm 100 debt free on a personal side good for you and the business if the business we know this the business has its ups and has its Downs if I'm on a down in my business and I'm on a down personal I am stressed I'm depressed sure so I want to talk about this when you all are doing real estate when you got into it would you say that your personal finances on your personal side were in a good place yes I was debt free still am say what yes yeah she doesn't spend any money Jay you was that rude yes you ain't telling me that I would have bought Jayden I do Anthony yes we can get married [Laughter] my call to action to her was at a higher level okay now you're debt free but you're not putting you're not putting any uh leverage on that money it's dead money okay that is a that's such a good point okay so you brought up Jamaican earlier yeah I grew up in a Jamaican household and you are half what I'm half Jamaica half white all right why Brothers oh my God her DM boy she know how to dance like [Laughter] [Laughter] okay okay go ahead so uh I love that you talked about uh you know making your money work for you because growing up in a Jamaican house I was you get your money saved save save save yeah so this mind shift that I had to you know I guess it really kind of get used to was how you hear everybody say make your money work for you right instead of working to get your money right right now people say that all the time Anthony like people need to stop saying that because people that are their minds are not trained like that it doesn't mean anything facts it's like what does that mean right right right so to his to his point and I've heard you speak on it too me investing and being able to honestly let go when you were taught to save money you look at that account yeah yeah and all you want to see is that number girl yeah and the only way it grows is if you're depositing money because it's transactional you are working to get a check well now I had to write some of the biggest checks in my life from your savings account you've been saving all these years which was sick to me when I saw what my savings look like because again I just like to see the number go up so now I felt like dang I'm I look broke yeah yeah but I'm I wasn't no you're not she was invested her money was deployed yes yeah a lot of people get that confused with my message and I'm like no no you only need three to six months and your savings account outside of that you need the rest of your money working for yourself yes and I firmly believe when it comes to real estate capitalize on real estate that's good so I mean it's like as long as you have your savings you know in case of emergency personal side yo listen man if you're debt free got savings man capitalize that's your money go read the point and and here's the thing it's gonna be so confusing for you all by me I got to say this correctly no I'm not gonna say it like that because Anthony said no Anthony didn't say that like that here's what I'm saying a lot of you all know me because of my because of my friend and mentor and and friend Dave he doesn't believe in uh mortgages for Real Estate outside of your primary mortgage where he and I do somewhat see differently respectfully love you is that I do believe that you can borrow money to get an investment property again as long as your primary personal finances are in a good place now I'm not saying go out here and be like Tommy have 20 houses I'm not saying that you got to move it to speed at at the speed of where you are currently yes you know don't I know one person went out there the debt free but got like 15 mortgages but then your income doesn't justify that part and so as soon as five people out of the house now you're stressed and struggling and so when did you know you were ready to start doing because you have several now right yeah I do have several okay okay so how when did you know you was ready to do that um like you said I was debt free okay and honestly when I purchased my first home I did not go borrow money I wrote the check cash shut up yes because and I it's okay you are so funny how about sheep so hilarious um and I was blessed to be able to do that right now back to Not only was I stressed because of you know me trying to make sure that this wasn't a scam I was also stressed because it's in your mind this is my first time doing it what if it doesn't work out right um but I will say after everything you know the transaction happened after we rehabbed the home and sold it yeah you know then we look we up again it was easier the second time and I will say this when I got that money I did not go spend the money now I do I gotta put this out here the hardest thing for me to do y'all I like bags like everybody else I love sneakers I love nice things but you have got to like reinvest your money absolutely and reinvest it immediately absolutely and I think that that is a part of us living for the approval of others sometimes is that and then also you know this thing uh you know the soft life you know and we want to reward ourselves for our hard work yeah trust me I do like I sit up sometimes and I ask God like God when am I going to be able to say oh yeah I'm gonna go pay cash cash for this or do this because I feel like every time I'm turning a property around I'm reinvesting the money that's so good but I have to look farther down the road and not for the now you know does that make sense no it makes it makes a lot of sense um how did I just go snowman Jesus uh what do you say on um I think he's on sway his son came home and said Dad man my boy just got a big old fat chain I haven't gotten the chain yet he said yeah but you got 20 properties correct you know what I'm saying yeah and it's like for me I had to sit back and really ask myself this I was talking with my friends yesterday and I was like man you know what at the end of next year I plan on paying cash for two homes um and and turning those into things and now I'm I'm My Philosophy is less buying because I I like nice things too I'm not really in the name brand stuff I like cars in a home that's where my money is right but boy I'm trying to tell you when I see that savings account I see that compound interest coming back but I'm like man y'all keep having sex and making babies so attracted to me when I see my money actually working for me yes because what I've learned from wealthier people Is that real estate is that form of when your money is truly working for chart so I want I want to spend some time here Tommy with you I want you to walk me through the process okay of what you did with Jade here okay uh because what you've done is you've positioned this young Queen to uh when she does find well I'm sorry when her husband does find her uh she's coming to the table debt-free wealthy um and now she's a true asset that's right and I think that I want to know a lot a lot of people watching okay cool great we hear the testimony you all have created The Authority in this space what is the basics what are the steps we need to be following to get there because they all want to do it and I want to know because I may even want to partner with you as well sure great so what we did with with Jade first and foremost is her personal finances were already on point I mean excellent credit score she she was making multiple six figures but she lived like she was making about eighty thousand dollars a year here for real yes so there's already a level of discipline there there are a line share of her money was already going in the savings I just needed to put it on steroids yeah right she was already saving but it was at a snail's pace yes right so I said hey you I don't have to come in and reinvent the wheel right because you already have the mentality let's just tweak some things and make make your money grow faster absolutely and here is the the best vehicle that I know Anthony which is real estate right and so she was like well I already have a real estate portfolio I said great let's look at it let's make sure we're maximizing it let's make sure that all your current rents are at market value let's make sure that you have the best interest rates and stuff like that so we refinanced a couple of the properties for right to increase the noi net operating income because we were able to lower uh how much was being paid back to the bank right so we fixed we fixed that and then that created more cash flow so I said okay well now let's attack probably your largest expense being single with assets which is your taxes so real estate is going to allow us to come in and compress some of those uh and give you even more money to play with right so we we we we went and we attacked it from a tax standpoint from a tax standpoint what was I without putting too much of her personal insurance out there what was like one thing well I'll just keep it high level so so one of the things you want to do is you want to make sure that you're you're doing if you're not if you're not being uh designated as a real estate professional by the IRS yes right then then your your write-offs and stuff can be capped right so there was write-offs and stuff that she was having to carry over that she was having to leave on the table well now because she's a real estate professional and the definition of that is that you spend at least 750 hours a year you know in the in the area of real estate well well well now she does that so she has there's write-offs and stuff that she can take advantage of right let me answer this question I'm writing all this stuff down too for yourself you know what I'm saying I I know how to shut up and take notes um because some people will hear this and say well real estate professional all I need to do is just have an LLC no and have an LLC about real estate that doesn't make you a real estate I can cap off with everything no so you're saying a real estate professional is you have 750 hours yeah so you have to be if you're ever like we talked about being audited with the receipts if you're ever audited she's gonna have to be able to show that that she's spending that much time in in the industry right whether it's viewing properties whether it's out writing contracts whether it's whatever she has to be able to show that right yeah so so because she now can do that she's she's a sophisticated investor there are additional write-offs that she can take see see put this camera on me keep up Walt uh no one's ever said that of course you don't hear that I know you know what you hear is go get an LLC yeah call it lady J real estate investment LLC and then boom you have all these write-offs in a real estate space that's not true Texas just like and I'll jump I'm jumping somewhere else just like when you hear these gurus that pitch multi-family Apartments talk tell me that's what they talking in the black people yeah and they're talking about oh you can you can take all this bonus depreciation you get a negative K1 and you can offset that against your your earned income that's true if you meet the other qualifications exactly so I like I have doctors that are investing you know six figures hundreds of thousands of dollars into some of our multi-family deals and I tell them you need to consult your CPA and your your your tax profession professional because you're going to get a negative K1 but you may or may not be able to take all these write-offs nice facts that's facts now I'm gonna give you this but I don't want you investing because of this one thing there are tons of benefits to invest in real estate but I don't want you saying well I did that I did that 500 000 investment now I got this negative K1 for 350 000 but I was told I can't offset my 1.6 million dollar income because I'm a brain surgeon parallelism Tommy Talk I'm serious because it's like when I was blessed to come into where where I'm at now my CPA and my financial advisor said hey man if you want to work with us we're going to be very honest with you I was like what's up we're going to do things legally ethically and morally that's right and because of who you are spiritually that's right extra careful about that good for you so she's like so I'm I'm sorry there's gonna be certain things that you just can't do you can't do because of we want to make sure that if you are audited we want to make sure that you can go home and go to sleep yeah and know that we've done everything correct and I hear so many people talk about that negative okay one I hear so many people talking about you can write off you know 100 of your car like in our spaces and I'm like yo there's truth to it yeah but are you following all the restaurants legally and morally that's right to do it so what you have to have you have to scripture says the Bible says there's safety in a multitude of counsel right right so you have to have counsel people around you that are very proficient in their area and then you Anthony or Jade or Tommy you have to be the conductor yeah the financial conductor yeah so you tell the flutes when they come in the drums want to come in you know so because what happens the drum wants to play all the time right the flute wants to take a slow load you know the saxophone but you are the conductor yes right yeah so you said at the head of your financial table yes yes and you have your CPAs you have your you have your wealth management people you have your attorneys you have all of these people advising you yeah yeah right yeah yeah and I'm not saying you have to know what they know on the level but but you have to know that when they're giving advice it can be true but they can be looking at it like this [Music] so if you want to ask a question though look here I go put on my Radiohead sorry Anthony I know this is your show but I do want to take a step back because I think that sometimes we talk to people that are financially there like you talked about me being you know debt free when I started but you don't have to be that free to jump into this game correct okay you what about the people that cannot hire an attorney what about the people that you get what I'm saying because that to me is where the hole comes in um because I know you have a lot of people that watch you that want the information but you can't necessarily afford all of these we're using a lot of big terms right now right so so to answer that Jade so in my program from a high level overview we provide those services and we give you the blueprint okay and and the questions to ask regardless if you're at fifty thousand dollars or you're at you know two million dollars my okay let me let me give you the the bandwidth right of my students yeah my my smallest student from an income standpoint okay from an annual income is a school teacher she makes fifty three thousand dollars a year okay my biggest student uh is an attorney that makes right around two million dollars a year okay and everybody in between and let's go down to that 53 000 school teacher uh because I think a lot of my average person who follows me is gonna be in between 60 and like 80 000 sure and they're probably are about in between 15 to 25 30 000 worth of debt 53 000 a year they're not investing a lot because fifty three thousand dollars a year gross is going to be about thirty eight thousand dollars net how are they winning so here's how they win the first time they do Anthony is you buy what you can until you can buy what you want that's good that's number one now when you say buyer they're investing partially are they buying a home no they they that their first investment needs to be where they lay their head I got you right all right all right they need to buy in my humble opinion because of because of the force savings mechanism the the appreciation that comes with it and also uh the write-offs right so so you when you look at your mortgage you look at there's interest there's a principal there's taxes there's insurance and there's private mortgage insurance those are the five components right typically on a government mortgage let's just say this is say you're if their income is between 50 and 80. I know yeah that's a FHA loan all day I know Dave says save until you get to 20 percent I don't but no okay good I'm glad you don't and I'll tell you why I say don't do that as a mortgage professional 25 years because typically the average income increases three to five percent a year a year right right well number one you're not keeping Pace with the housing market and you're not keeping Pace with inflation right so while you're trying to save right right you're making us rich as landlords right right I would much rather you wherever you are right now be a good Steward and let's start let's stop the bleeding and let's buy right now yeah yeah right where we are right I agree that creates so out of the five components on the FHA mortgage your your interest your taxes and your homeowners insurance are write-offs so 60 percent that makes up 100 of your mortgage you get back at the end of the year and a thank you for being a Visionary yeah yeah so one of the one of the things that I say all the time Anthony is that we all pay a mortgage it just may not be ours even if you're an apartment that's still a mortgage that's a mortgage absolutely listen we just bought a 18.3 million dollar 200 unit apartment complex that's a huge mortgage bro absolutely and I got 200 of my friends 200 doors that are going to pay it for me yeah yeah that's so good that's so good so fifty three thousand dollars you're saying hey go get a place where you lay your head yeah but it's not just getting up and going to buy a place you're also teaching them how to get the proper hours how to get it correctly so they can properly wrap it off yes let's just lay your head yeah you can lay your head there and properly write it out because it is an investment it is an investment it's an investment that's I think that's the part that a lot of us are missing out on getting that education on is how do you do it right and in places where you lay your head out yeah yeah because I had to have someone teach me how to write this off correct properly yeah because it was like this is a business it is yeah which I'm sad what because I'm gonna lose some of it when we move out well no no you know because you're still going to keep an office absolutely in here absolutely so we still get to write that part all the officers come down here for me now well so it's still the same thing [Music] um because still your the business Anthony O'Neill Inc is now renting from Anthony O'Neill yeah yeah yeah individual yeah yeah okay so just like if me and Jade wanted to rent this you would charge us I'm gonna charge you up so part of that 6 000 square feet is broken out based on what the uh what the average rent for office space in this area would be right times the square footage that comes off your mortgage bro a lot of people and I'm curious I know what you think about this and this we're just having a good conversation sure this is some educational stuff that people need to hear sure and thank you for bringing this up fifty three thousand dollars that's 38 000 net they're drowning in that correct and so I know my cousin for example who lives in Fayetteville North Carolina home of Fort Bragg second largest army base in the world got approved for a home mortgage of 99 000. and she said I couldn't find nowhere I felt safe at you said something that was so good you said buy what you can until you can get what you want yeah what do you recommend to people who are staying here but I'm I'm asking me ask you this question because you're a woman would you buy something that may not be exactly what you want but to get into the process as a woman as a woman yes if it was in a space that I felt safe I think safety is important for women okay okay I mean again what's safe though because you know some y'all ladies be a little bit too bougie see y'all need to stop saying I'm gonna say that though faith is like when I walk outside it's not a lot of activity going on right I get you but it may not be in the most polished neighborhood neither though is that not safe I mean yeah yeah like it might not have all the bells and whistles it might not be an open concept it might not be a you know but again it is we have to understand the marathon aspect and not the Sprint aspect of life right so in other words it's like I want to open concept and I want to have two separate you know toilets in the restroom and a double vanity into this and that but for right now I may have to give me a three bed two and a half or one and a half bath for the next two or three years that part to start building understanding that this is not going to be a forever home because regardless here's the thing I'm either gonna do it in my home that may not be exactly what I want right or I'm going to do it in an apartment complex and I am literally trying you know like flushing my money because I'm paying somebody else it's like you all said I'm paying their mortgage or I'm going to be renting from someone else Anthony here's how I look at it you've made other concessions in every other area of your life typically you're not on the job or the career you want you don't have the body you want you're probably not dating the person you want and you you don't you're not driving the car so why does it all stop at the house that's true that's not that you you better breach other concessions in your life [Music] but what I'm saying is that we've made other concessions but why do we draw the line right here Tom you you know what time are you talking CJ come here real quick uh I'm coming I'm gonna call my brother I don't want you to think I'm capping so I lived in a very nice very nice my first home that I built was beautiful underscore it was huge it was it was because come again in the camera I don't know how we can get him in the camera because I want the world to make sure that they know I ain't got you want to come on outside CJ is my brother been about 20 years all right so my first home that I built in Tennessee gorgeous custom built yeah everything's dope the second home that I got Jade I literally walked it the night before I was going to close oh wow with Raven my dog and I almost backed up because it was in the hood yeah yeah I mean when I say the hood the hood no yeah but it was a brand new home mm-hmm three-story rooftop balcony called me to play I was The Bachelor but I was the bachelor in the hood in the hood right and I literally sounds like gentrification it was a gentrification area but what I'm saying across the street Grandmama coming up when I moved in the next day I moved in she came over knocked on my door and put her face on my glass door said can you take me down the street to get some weed and some beer no you are making this up it's a true story true story trap houses trap houses two street over I'm talking about they selling bodies they selling drugs but my real estate agent said this is going to be the best investment you've ever made in your life I say yeah but bruh am I gonna be around I said but bro they were still in packages and everything I'm talking about packages off the front door we ordered some stuff for the studio upstairs came back home I'm sleep package gone and so I stepped up the game though I mean I got Rave in my protection dog you know what I'm saying I'm a black man I I got guns on me in there yeah it's like yeah and everywhere we walked I walked around with a gun I would definitely not suggest it for a woman correct I bought that town home for right at 585 stayed in it for nine months decided to come here sold it for 7 13. see listen let me say this let me say this to you that's the power of real estate yes there is no other asset class yes that you could have done that in you can't do that in stock you can't do that in crypto you can't do that any other place other than this dirt that's why I'm saying yeah you bought what you could until you could get what you want now watch what you were able to do you were able to take that money and slingshot slingshot right right because because now watch this let's go back to the taxes because that was your homestead yeah there was no Capital there was no capital gains right on on the Delta between the acquisition and the liquidation price right right right that part absolutely and I think that's the thing a lot of people didn't a lot of people don't really understand because I was like wait what we sold that house in two days now wait a minute let's go back to nine months yeah tell me what other asset class because you had already securitized it at 590 right so the 590 was on point right so all all it would do would go up absolutely that's all it would do would go up so it went up from 590 to seven what seven eighteen seven eighteen right so a little over 100k a little over 100k in nine months so so that investment if we were to look at cash on cash return that investment in nine months right made almost a ten thousand dollar uh increase yeah now watch this Anthony um what if the other person that had the opportunity to buy the house because if you're at 590 then that means the income has got to be around right around three something three to four hundred thousand no no about two something depending on your debt right DTI right so let me say this what about the person that says now I'ma wait a year to buy they were going to be buying it for seven something you get what I'm saying no no but that's what we teach yeah that's why I say buy what you can yeah so so even the Uber driver coming over he was like is it a good time dinner Jade is this a great time to buy real estate I said it's all the best time to buy real estate was yesterday yeah the next best time is today right right right right right right right right but they're tripping about the interest rates right now let me tell you are you not concerned about the interest rate the rate marry the house I'm about to go [Laughter] I'm good so I'm not caught up on that because my Foundation yeah yeah is my finances Anthony because that's on point so now I can have a conversation with either myself or my spouse and say you know what the rates are a little higher yeah but the competition in the market is down yeah what drives prices up right supply and demand right now the the demand is kind of waning but the inverse effect of that is that the rates are higher yeah yeah so babe this is what we're going to do we're gonna cut out uh our date night every every Friday where we're on average looks like we've been spending about 150 dollars per per Friday right that's 600 a month yeah yeah right yeah so babe so hey we're gonna have to cut that down to once a month or you're gonna cook or we're gonna take a cooking class we'll make it fun we'll do something else so that's 600 yep right that we save per month is now 7200 so now if we would have bought this house two things if we would have bought this house last year yeah the interest rate would have been two percent lower but the house would have been eighty thousand dollars more yeah so pick your poison yeah yeah so we're gonna date the rate right because we love the house we're gonna marry the house right we're getting a break on the house yeah and we're going to keep our credit straight we're going to stay in a position and when the time strikes when the prices go back up and the interest rates go down which is which is going to entice people to jump back in the market to buy which drives back up demand which drives back up prices Anthony right we're going to be already set yeah yeah so then at that point we have one or two plays we can jump out of this and upgrade and slingshot with the Delta that we made like Anthony right Anthony made over 100 Grand in less than 12 months where you do that at right so other than real estate right so we can either do that babe or we squat here we suppress sit right we refinance with Tommy that's a plug we refinance with Tommy we so now babe we re not only did we recoup the 600 that we gave up temporarily for several months yeah we pick up another 200 bucks so now that's 800 a month that we can redeploy that's 9 600 a year come on man so what babe what does that make our financial Legacy look like for our kids yeah if we stay the course those kind of conversations not Tommy now you're trying to talk my language and if you need a realtor through on it yeah he gonna get you right here this is exactly why I wanted John yeah because you now looked at him as a mentor and look at you doing because you said something before the show which I think I'm gonna talk about a little bit we got about 10 minutes okay um you just have to say something earlier that was so good that a lot of people expect their mentor to do all the work yeah look here's the thing and I expect expression in our community right yeah if I am so a lot of people are doing what now they're you have to pay for programs or you have to pay for the mentorship right well first of all that normally stops the book right there because people do not want to invest in themselves they really don't right so um but I think we have this mentality if I'm paying you to Mentor me through a process I want you to lay it all out there for me exactly that is not what a mentor is come on a mentor is to lead and guide and like so you can have someone to bounce it off of like he's the expert at the end of the day I have people all the time to see me posting about you know working with him and doing real estate now and they're like oh I would love for you to Mentor me and I have to be honest I'm like I'm not in a place to Mentor I am the mentee right I am the student right now right I don't know enough I haven't done enough to guide you through this process yeah however you can invest in yourself that part because what people don't understand is that time is so valuable and so what you are doing is not only are you paying for his time you are paying for Access you are paying for resources you are paying for information right put it back on her and so and so when you're paying for all of these things and you're getting them in a One-Stop shop you're paying for that you're going to get all that however right right you got to get your feet on the concrete you gotta work and you have to do the work people don't want to do the work you have you have but Anthony you have to do the work no otherwise just write a check for a house right write a check for all the rehab repairs everything that goes into it right and then y'all split it after that just be a passive investor don't be active I don't like that but I'm saying but I'm saying no me but but but but but you cut from a different claw yeah because if you're a passive all of this would never happen exactly so you come from a Different Cloth yeah but but but we have a program for people that says you know what Tommy I'm interested in learning and getting double digit returns but I'm not trying to be at the courthouse with y'all I'm not trying to walk these stanky houses with y'all I just want to write a check and get a check we got something for you too for real yeah those I mean and you know what I think how I may get in trouble when I say this I think those are people who got money that's not in our tax bracket they just want to just they don't have the time well well yeah two things so a lot of times in real estate the reason you invest in real estate is not to make money it's to save money it's a tax strategy so real estate becomes Mo it's a multi-faceted uh strategy depending on where you are facts for that single mom it can be the vehicle to get you out of the hood for that corporate c-suite executive it's a way to keep Uncle Sam out of your pocket yeah yeah so like I said my fifty thousand dollar person my two million dollar person their strategies are different but the answer to their problem is the same real estate yeah absolutely no I'm with you on that one uh I just know me uh uh my mentors love me but I also get in the nerves too yeah because as you should it's like I ask so many questions as you should oh Anthony but that's so good I met someone one time that was saying uh I guess he wanted to get into this space that he you know was very curious about and he was going to get the opportunity to meet the guru in the space right and he said he knew he had one shot one shot to be in the same and and you know be in the same space as this man yeah here's what people have to understand too have you done the work beforehand and are you doing some research beforehand before you approach your Mentor because if you're asking surface level basic questions people are not going to want to take their time with you people want to work with people that have already put in some of the work and can ask different questions so this is this was his philosophy he said I had read this man's books I knew the information I just didn't know how to get to the next hump right so he had 15 seconds with this man to be in front of him he didn't want to just ask a basic question he asked a question where it sparked something in this guy that he he wanted his attention yeah it's like it's like it is like dating right yeah women we get mad all the time when a guy walks up to you with some basic line or when they text us WYD or whatever yeah because you haven't done enough like you're not in debt enough like you're not invested in me enough you're coming to me just like everybody else what is making you stand out so he goes up to the man and he asks him a question that was so detailed that that man stopped what he was doing he is the goat he is the guru in this room and he looked at him and he said I want to meet with you yeah yeah like that Mentor in that moment picked that mentee because he was like you got something different you did the work before you came to me looking for all the answers like look and I know it takes a lot of time but YouTube University is out there if you're like well where do I get this information like I've started Googling like I mean I just ordered books like taxes for dummies like there are certain things tax codes I want to know right and just instead of me relying on everybody else starting a business for dummies even though I have these businesses and structures in place already I there's still information I do not know and it's going to take me time it's going to take me research but what is making you stand apart he has the class that he teaches like all of us like his mentees we get on Zoom calls and you know we talk about different topics yeah but who is standing out in the class who was asking the questions where it's like I really want to take you under my wing and maybe possibly show you a little bit of special treatment because I see how bad you want it oftentimes what we it's like going to therapy what do we do like we'll go to therapy on Tuesday and then we ended nothing on ourselves all week until next Tuesday I'm asking the same question well it's yeah and I'm glad that there's a spiritual uh Foundation to your show Anthony it's kind of like going to church now you go in on Sunday and you you leave the Bible on the passenger seat again until next Sunday when you pick it back up again so there's no growth there's there's there there's no work outside of when the lights are on right and I can tell right I got 58 students I can tell right who's doing the work I can tell who's taking my words and repackaging them and asking you know the surface level questions I was uh I had my uh Seminary degree and I was in seminary school and Carolina Bible College and um our professor gave us an assignment and he said I need y'all to go read this and come back and tell me what you read so everyone was going before me this is so what y'all said everyone's going before the Bible says the Bible says the Bible says that and I said back and I said yeah so I raised my handset I said God the Bible did not say this though and I have a question about why did it say ABC but it didn't say this so if it didn't say this we really need to study why he said ABC that's good professor looked at me and said you're the only one who read the whole point yeah and I think sometimes for us we always look and and this is the thing that bothers me everyone says well Anthony I want you to Mentor me on how to get out of debt well do you even watch my show correct like because that's where it starts up that's where it starts you need to add me about my book exactly have you read my show everyone's you know this stuff like like bro just just read the basic books read listen to the podcast yeah the basic stuff is there for free that's right what's going to get my attention is if you ask me something deeper than that you know and I love how you said that because a lot of people we don't want to invest we hear that yeah well if I gotta pay for Mentor especially the Christian people I hate to say this oh Lord Jesus Christopher think well the scripture's free why do I gotta pay for your mentorship but the Bible says by wisdom and sell it not that's what the word says [Laughter] they don't get it man I mean that's what the word says I think in 2022 I spent about a quarter million dollars just on let me say this let me say this so I got into the whole multi-family space in in October and I called her and said hey sis I'm fixing fixing to grow us I'm fixing to step out so this is going to be a way to grow us I wrote a hundred thousand dollar check from mentorship um so when I wrote the check it wasn't betting on the guy yeah because his proof of concept already was there right right right right he's already living what I want yeah but but what it did Anthony it it it created a currency like this yeah yeah and so when I went in that room and I joined this organized this Mastermind one of an older white gentleman walked up to me and he's got to be mid 60s maybe 70s he goes I don't know what you do for a living but evidently you do it pretty damn good because I know what it costs to get in this room so there's a level of respect absolutely already absolutely there's a level of respect already yeah so so you're treated different and you're seeing different because it says whatever your back story is you understand the power of investing you understand that when mentorship compresses time frames between your now and you're not yet yeah right so as a result of that so from October to now we're sitting at almost a thousand units that we've bought in less than a year in less than a year now I've wanted to do multi-family Anthony for the whole duration since I've been in the single family space which is 15 years but I didn't know how I didn't have the blueprint right and so it just never materialized but when I wrote that check it had nothing to do with my mentor it was all about me absolutely it was about me me betting on the gifts and talents that God had placed in me that were not dead but they were dormant but he was so good right now she calls you her Mentor that's right you have another Mentor you better and then that Mentor probably he does Tony Robbins is his mentor come on man so let me tell you something your coach better have a coach every everything here we go with scripture again everything has to be subjected to something else yeah yeah so if your covering don't have a covering that ain't your coverage me and my me my best friend is my pastor here Pastor Stephen Chandler of Union Church what up Union um his Pastor is Chris Hodges okay you know what I'm saying so it was like every time I see him acknowledge I see him flying out to the city that part I see him calling him Pops that part I see him submitting that part I see him asking his his Pastor his spiritual father questions and if that pastor says no he does it down so so I'm like yo so how do we have a hard time doing it so let me tell you something every woman and every man like if you're dating and I'm just saying that's what I show I need to see who you're submitted to see see don't don't go there because if I date a woman and she ain't submitted to her father yeah oh bro I can't rock with her yeah you can't rock with it because then she ain't gonna submit to you like no so so so even even in a coaching in in this in this space we're in right I let my people I'm very transparent yeah to know that I have people that's speaking to my life in the area of real estate right I'm held accountable so not only that when I go sit at these tables I was in Santa Monica for four days she's gonna get some of the stuff that I gathered she has to that's what I'm supposed to do right right right right right right right so so so you need you need to be submitted to somebody I won't follow a spiritual leader that doesn't have a coverage man listen okay I know we don't have time but I I do have to answer real quick question so then what is the key to finding good mentorship you have so many people that are on Instagram like you said like they have repackaged the true experts yeah we're talking about writing all these checks everybody can't write a hundred thousand dollar check everybody can't write a thirty thousand dollar check how do you find in this day and age of everybody being the guru how do you find good reputable honest mentorship my thing for me and I'll let you I'll let you close this out time minutes okay I think for me it's about um tasting the fruit and when I say Taste of fruit it's it's you may not have a hundred dollars you can invest but you have 200 you invest into a book and you have time so instead of for listening to Instagram instead of for jumping on all these shows download a podcast that's right you know and when you download a podcast download something that you can entertain and you'll be able to see listen I'm going to try what they said just from listening to the podcast that's right and if it produces fruit from there then I'm gonna go to one of their conferences but I'm gonna go to one of their Gatherings and one of their events I test Jaws fruit before I invited you on to the show and when I when I saw the fruit of you all entering and then helping the kids I was like yo let me let me get y'all here I think the problem is especially within our community one of the problems because Tom's gonna come back and give it something else is we just see this and because it sounds good we jump and we follow that's right rather than saying you know what what's the Bible say try the Spirit by the spirit that's right and it's like if you don't give the spirit the opportunity to tell you yes or no then really the problem is not the scammers that's right it's you it's your lack of discernment exactly it's your lack of discernment so I mean yeah go ahead so let me say this we do a a monthly free Zoom call okay that you're able to come in yeah and and date me and I date you because you may want me I may not want you right that's facts right so you're able to come and I give away so much free content that if you apply that right but it's not it's like drinking out of a water hose because it's a 10 000 uh uh uh overview right I'm not going to get granule yeah until until we're in relationship yeah yeah yeah you're not gonna call me right I'm not gonna jump on a plane with you until we're in relationship but I'll give you a a 30 000 uh thirty thousand foot view overview of how this stuff works yeah and then you you know God bless you listen man we got to bring them back uh because I mean I'm serious I I think I would love to figure out what can we do to maybe maybe I'll host one of your free um Zoom calls I would love that you can really understand I would love that and learn in space some more because like I said you all I turn uh 39 I'll be 40 next year and I'm like man you know what God what is next for me and God is really shifting for me to really help people build their own table yes I was um being interviewed for act for a magazine and they said hey man what are you doing to build your legacy and at the time I was working with the particular organization and I said I'm not really doing nothing to build my legacy that part I'm doing everything to build for them this organization is letting me see and while I think at a certain season you have to learn how to take your gifts to help somebody else reach their legacy and reach their dream absolutely but at what point do you take your gift your calling your anointing and helps and help yourself build your own dream for your family and there's like three components or three components when it comes to Building Wealth if you have the family perspective which I don't think black people understand families the number one key for wealth building number two is the intellect you know growing people yeah and then three is finances and finances and last but finances is important right and they need this information yes like I love what you've done with Jay thank you for that because Jade is an example of I have no experience in it and now she's sitting on uh multiple six figures earned and there's no encourage you don't keep going yeah probably already thinking what's next in her head right now she just texts me unsolicited about a couple weeks ago I was like hey hey uh I got out of the gate kind of slow but this is my goal this is what I need to do for the rest of the year I said okay great let's customize something let's go get it she said great I'm doing it remember that yeah send me that text I'm like okay them numbers don't scare me appreciate it come on come on so listen we're gonna drop all of uh Tommy AJ's information in today's show notes go check them out um go check out his program no I'm not getting paid for you to join the program uh I don't want to get paid because I want you all to do your own due diligence date him the way correct Jade uh dated him she dated him for a long time though yeah but let me say that let me say this Anthony let me say this Anthony one of one of the things that I want to do and that Jade is helping me do by platforms like this is normalize conversations uh around financial literacy in the black and brown Community to normalize this yeah so one of the things like you know the Mecca and I know we got to go the the Mecca and and the black community is the church in the barbershop absolutely and so what I tell the guys at the barbershop all the time is I'm tired of talking about how much how many millions LeBron got because God didn't give me that skill set yeah I'm not six eight I don't run like a gazelle and I can't jump out of a gym so I can't duplicate his wealth that way right but he did give me something exactly this dirt he gave us all something right he gave us all with us one three or five talents what the scripture says in Matthew we all have been given a measure absolutely but it's up to us to grow that oh man see you starting more stuff we gotta go we gotta go people get upset when I say this but I say Tommy I'm like man if God gave you something and if they say God give your talent and your talent is is capable of making a million dollars and you're only making fifty thousand you're upsetting God that's right yeah and so people like oh wait wait wait that's right I wanna know God bless y'all we'll see y'all [Music]

Channel: The Table With AO

Views: 109,511

Keywords: real estate, real estate investing, investing in real estate, how to invest in real estate, real estate investing for beginners, real estate investment, how to become a millionaire, how to be a millionaire, how to make money, how to make a million dollars, how to think like a millionaire, how to build wealth, Anthony Oneal, table with ao, the table with ao, anthony oneal podcast, real estate for beginners, real estate mindset, housing market, house flipper 2, home buying

Id: 3cdFRP-a3D8

Length: 71min 4sec (4264 seconds)

Published: Wed Jun 28 2023