How To Get Into Real Estate WITHOUT Debt & Become A Millionaire (2022) | Anthony ONeal

kind of like if i play basketball and i was on the bench while he played i'm still cheering him on from the bench right cool when he's tired and needs to come sit down and drink gatorade i'm ready to take his place on the court yo so you can do it doc doc this you come to the table like this what's happening pull up to the table let's go so real estate investing is a 10.5 trillion dollar industry i'm saying one more time the real estate investing industry is 10.5 trillion dollars a year industry and a survey reveals that 28 of americans prefer investing into real estate over stocks which i wouldn't say that's better or is it worse i think both have its equal importance right it's a great way to make money and secure your financial future but you can also lose money if you do not invest correctly and if you don't get the wise investment strategies and tips and wisdom on how to properly invest now you all know me when it comes to real estate investing my preferred method is that you are debt free okay you have a fully funded emergency fund it makes absolutely no sense to be going out here racking up getting all these properties and you don't even have a thousand dollars in your emergency fund but you're talking about like yo bro but i got like i got like 100 grand in equity but it's not liquid cash to where if you needed to pay for to replace a tire or get home to a loved one you can't do that quickly and so be debt free have a fully funded emergency fund and when it comes to investing i'm really excited about this because my mentor and friend dave ramsey he says you'll use cash to invest into real estate and i'll be honest i'm investing a little bit i have not invested into a whole lot of real estate so i went on a search i went on a search to find someone who has done that method and while i was researching and looking up i came across a sister a a a sister not a sister a a s-i-s-t-a a a sister that looked like me and she's like 10 years younger than me and she's doing it and she is paying cash her and her husband are millionaires her and her husband are in their 20s and they do real estate without racking up any debt so y'all today's show is going to be absolutely amazing but before we get to today's show you know investing in real estate is important and to invest you got to have cash if you have cash you have your parking somewhere that's giving a little bit of you know return on your money like a savings account check out this quick commercial and we'll get started on today's show yo listen man really excited prize pool go to anthony.com for sas savings uh they are where i prefer to park my emergency fund my savings account when i'm saving to buy real estate when i'm saving to invest i park my money over there savings accounts so go check them out um at anthonynil.com forward slash savings but today on the show i have dr jamesa bennett a doctor i mean so not only is she wealthy she a doctor i mean she an educated doctor like like a legit doctor and jamisa is a real estate investor who teaches people how to build a debt free debt free debt free debt free real estate portfolio she's also personally debt free personally debt free i'm gonna repeat it one more time she is personally her and her husband are personally dead free and did i say this already she's sister y'all let's welcome my friend my new friend to the table dr jamesa bennett what's up sis yo when you walked through the front door i was like oh yeah she a vibe yo you're definitely a people's person yeah you love people yeah you know what i'm saying my team walked through the door i was like yo that's not just me so you know she's a multi-millionaire he's like she said right now i'm eating that's it yo you chilling i came in asking for food you sure did where's the food everybody's eating i want to eat you break bread with your people where is the food yo i was like yo this is yo i love it i mean your energy is is amazing let me turn on my clock because if i don't turn on the club my producer's like uh hey yo yo yo yo uh we going yeah exactly hey can you reset that all right cool um so let's get straight to it because people are saying wait wait so she's she's how are you again 28. how was your husband 30 how many kids you have four four kids we have a dog too oh okay we got one son three daughters and a puppy and a puppy who's the oldest your son the oldest fine oh that's cool he just turned eight yeah that's good that's good so he he gonna be like me he's gonna be the big brother protecting his little sisters yeah and the dog's gonna be protecting all of them yeah i feel like he's already the boss of the household he negotiates really well yesterday though he did say they are pestering him i feel like he'll have the phd next i don't know he he's different you have to interview him uh my brother's the real thing i should have told you to bring you bring him with you i usually do today it was a school day though so we got a whole like work life balance thing going on yeah um i hate the right balance because usually if one thing's up the other is down right so i would say more like a flow yeah that's good and i love that i love that we are breaking like norms for what black family and black love looks like we do what works for us for real what do you what do you think is a norm for black love and black families like what would you say is that norm struggle of um if i had if i had to just first of all as african-american people we let love and loyalty become a prison for us and we get bogged down to like gender roles and who does what like you know usually the husband's out first thing in the morning so the wife is getting the kids ready for school and making breakfast and packing lunches we intertwine what needs to be done when it needs to be done and our love doesn't hurt if something does not work we express that wow so now we've been together since 2011 since i was 17 years old wow we've been married for five years though okay okay i'm saying consecutively all of those years we have been together so we know each other you know we grow together we fuss he's my best friend yeah and i feel like that's the best part about this whole journey everything everything that i am today is because of him and his support yeah and he's like not on the fence about it like he doesn't care he's like oh it's your turn to do an interview knock em dead wow not like oh you need to be the one doing xyz no he's like oh you want to hire help cool like he let me get a nanny he let me get a shelf let me do it i cook really well too wow but he knows sometimes i'm tired yeah yeah right so i think having a good partner in this that's like the deal breaker it's going to either make everything or break it and i hate to see alpha women you know kick this not i don't need a man thing i think feminism um it took us for a whole journey and don't get me wrong i am a black woman yeah i was raised by a black woman i understand the power of a black woman but i know that it is not sufficient without the power and strength of a black man it literally you need one one hand why should the other is the power of two yes um just say that one more time the black man parts oh you just need it we need a black listen i'm a force without my husband i don't know i'm just eating i heard someone say yesterday that a black woman doesn't need a black man for anything they made that up they made that up i think that we are sometimes so used to being let down because we set expectation without gps right so like if you want to go to walmart and you're in a new place you'll say i want to go to walmart and you will allow siri to tell you how to get there wow you get a black man and you like i want you to be a one percenter but you don't leave room for the navigation for that man to get there so because we kind of you know know that this might not go right we kind of like tell ourselves we don't want it wow that's the instead of just making room for error wow would you say you're out for woman i would do you think that is a downfall for you and for your marriage no because when i'm home first of all your alpha woman you run everything yeah yeah when you get in the house you don't want to run nothing you thought i'm tired i've been telling people to do all day yeah yeah you tell us what we eat so i could just cook i don't feel like sinking the laundry needs to be water let me do that because your mind um is so consumed with just your day-to-day activities as a successful business owner you know being a woman you gotta put us like tough exterior on too especially in real estate it's male dominated yeah yeah so when i get home i want to be safe i want to be free i want to take the wig off yeah you understand what i'm saying like i want to be myself yeah and it's impossible to do that and go home like it's weird it's just like you working a full-time job around the clock 24 7. i had someone on the show wouldn't say her name because i want to be respectful but she made me she requested she didn't make me do anything she said she was an alpha woman and she told her husband what to do and uh she made me and cj not do the show because she was embarrassed by saying she's an alpha woman yeah i'm like there's nothing wrong with saying you're an alpha woman but if you're alpha woman when you go home to your husband yeah something's wrong i mean and it's not really it's not right because you're still an alpha woman when you're with your husband it's just that you know how to submit to y'all's vision y'all's partnership yeah it's called leading from behind a woman's job naturally is to support the role of that man now as a good partnership he want what's best for y'all anyway right so you still have a common interest in a common goal in mind so it's not like you're forcing him to do anything that wasn't going to get done anyway you're now just helping him it's kind of like if i play basketball and i was on the bench while he played i'm still cheering him on from the bench right cool when he's tired and needs to come sit down and drink gatorade i'm ready to take his place on the court yeah so you can do it doc doc this you come to the table like this that's my god he's definitely my best friend man i can tell yeah i mean i should man i needed him on the show because i i think a lot of men and this we don't get to while you're here because we want to learn how to get to this bag right but i think a lot of men are like okay cool i don't think men are intimidated by alpha women they're not intimidated by successful women but they're turned off by women who don't know how to come home and be the woman be the wife be the mother be the supporter be the help mate they want to come in and be the masculine the boss you know and and i don't want that no but when you go out man if i gotta if i gotta carry your purse while you're working i got it that's it i got you girl yeah you need you need makeup in your burst the way it crooked move i got you yeah but when we come home i need you to be my wife that's it and i'm gonna be your husband you know what i'm saying i'm gonna protect you i'm gonna provide yeah whoo we gonna make four kids yeah operation i feel like marriage is a partnership you can't lose sight of it it is operational it has to be functional so like we'll talk about men and their emotional or whatever but if you thinking for him how do you want him to go outside and make decisions he doesn't know how he's not comfortable or confident enough to say anything because he's looking over his shoulder like am i in trouble it's one of those things where like unconsciously women become the mother figure in their marriage and they get upset because i can't relax i don't feel safe i don't have the stability bro you took that get a ball back and he might not make the shot like we got to call a spade a spade he might not make the shot but praise the fact that he took it oh because then the next time he'll learn damn my angle is off it's just a lot of stuff that's one thing where you just do that right now can we just she said praise the fact that your man even took the shot and you know what and let me just get let's get to this back yeah you said something that was just so it's so good that i think a lot of men are wanting is they want to be celebrated by their loved ones for even making the attempt yeah because i know a lot of men who are not even making the attempt yeah you know they're not even trying to strive to be better you know they're they're just they're okay with just settling and um i can't me and my uh my boy cj my producer man we're always talking about what can we do more what what can we do more for our families for our kids you know every time i talk to him he's thinking about his lady his daughter his son he's always thinking about what can i do to better my family yeah and i just love how i love hearing like y'all two do that for each other yeah um so you all uh recently paid off some debt and it really wasn't a lot let's be honest nah so the crazy thing is whoa um i never allow myself to get in debt ever we got that in common simply because i don't remember to pay bills like i don't know what day is it the first is it during the fifth it becomes a thing it is to be managed and it is to be played with like we had a conversation early on we talked about a very prominent investor and how that person just loves leveraging and he likes to to get in debt yeah but it's at the expense of other people yeah if it was his own debt it would be okay yeah yeah but you have a whole foundation yeah you have an enterprise right which is forcing other families to build into your american dream that doesn't make sense it's not even ethical if you think about it um but you know neither here nor there that's what works for that person me when i originally got started in real estate so my husband he already had a construction background his father was a carpenter so like that was his hands-on thing okay boom i was 19 years old and my grandma passed away so i'm the eldest of ten hence the people's person i know how to get things done you got ten siblings i have ten siblings yeah you're the oldest i've been big misa for a while even when i was small so um she passes away i'm on her deed because at 19 i had a car i feel like i was in college i had a job you know i was jamesa right and so she passes away my name is on this piece of paper i'm like so i'm like well what are we going to do you say well we can stop paying rent here and we can just move in and fix it up right it's a vibe i'm like oh that's doing good okay we're gonna move into grandma's house yeah grandma she tying shirts around the pipes under the sink grandma got the drop ceiling with the panel on the wall the original hardwood ain't even hard no more got to squeeze so you know is this a thing that we have to make decisions because we're relived at the time although we were paying probably way too much it was fit for millennials yeah right um this is prior to us having children i feel like we were on the brink of actually having our fruit no i had my son when i was 21. so we were like on a journey it's us long story short we end up like we got to fix this up then we realized we can't afford it unless we went into debt but at this point we don't really even understand what debt looks like credit leverage equity it was a crap ton of it right she it was free and clear when she passed it away right and then you got the american greed yep so my family which is father uncle uh no three uncles and an aunt twice my senior they didn't even know it was mines so they like going at each other like yeah i'm doing this changing the locks um so my great grandma who raised me she pulled me to the side and she said you're gonna have to tell them that's your house look what they doing to each other i don't wanna intervene let them have at it but just like clockwork i did end up having to tell them because they was just taking liberties that weren't theirs right and uh magically they stopped hating each other and joined forces to hate me it was a wonderful thing i put my family together um anyways it ended up not working out we couldn't afford to fix it it's like every time we touch something something else broke uh it just was a lot and then it was up for sheriff's cell at a point right okay and this is my first time even knowing that people can take your housing i thought when something was yours it belonged to you yeah yeah that's not how it works so i'm like okay either they're going to take it or i'm going to sell it right and the guy who lived next door to my grandma at the time well shaved three-piece suit cufflinks right three-story house rooftop deck brand new construction right which mirrors every other house that's on that block i don't even know gentrification when i see it i never knew what it was called right i remember that black had no houses on it right anyways he gives me the number to his realtor uh we list it he said well listed at 115 which was really cool to me because as we're putting it together we were getting offers for like 60 and 50 and they were saying hey it needs a lot of work this all is worth it's a lot let me just take it off your hands so he says 115. i'm like are you sure she's like yeah six days in we had a bidding war 152. okay 52 cash and i it was six days i didn't even let it keep going right let's take that one because i was scared like i didn't know how it worked i'm thinking can they change their mind you know so whatever took the offer cleared 152 000 and we were on our way wow wow wow wow so was that the beginning process of y'all's real estate journey because i know your husband was in construction yeah but for you on your side commercial buildings like your dad had pharmacy contract stores and stuff like that but he never owned property i don't think he created it from that point of view it was still worker mindset because even with his day he's a carpenter he has a construction company he does lead abatement at all but he still worked every day like that's kind of all they know to do is man sometimes so yeah that was our first introduction to real estate so you are 28. until september until yeah so you're 28 until september today right you own 28 properties properties are 29 now 28 29 28 29 and 27 28 of them are or 100 all of them are definitely except one except more let's start from the beginning how do you do that okay so here we are 152 um nice agent made a commission is great nice agent introduces me to nice friend who's a financial advisor okay financial advisor says hey give it all to me right now come back when you're 60 i'll put it in a roth ira what is that that was just something that you know it's an investment tool we call it an investment vehicle okay so what do you invest in stocks uh he didn't say real estate he just gave me a bunch of scenarios and i said well what happens if i need money in the meantime because i don't want to go back to work that's crazy right he's like oh i'll give it back to you but you'll be penalized for it because i give you my money for free and then you charge me to get it back and i know i'm poor at this let's keep in mind i know that we need money like i know this right right so like i don't really like the idea and he was a little agitated with me like what you gonna do really that's you know his whole demeanor i'm gonna do what you're gonna do you said you bout to invest it right well one house got me this much money i'm gonna go buy more of those and just like that i got her from the table and i know that he was like punching the air behind him you know young black girl law she don't know what's going on right she's gonna give me the money right or cuz they tried to tell me i was gonna mess it up right no i'm not why would i why would i mess it up i got this far right so someone buy houses um very arrogant i underestimated the process for sure but i meant what i said right so right after that nice realtor introduces me to nice investor this investor is really nice though yeah to this day like we are still really close friends he it was crazy how the god introduced them to me though he was like yeah he buys money i mean he buys out real estate he fixes it up he refunds and he keeps flipping it like drugs that's what the damn realtor said to me the vote is jewish with blue eyes so when i meet this investor i'm thinking it's my boss but no he's one of us so when he's flipping real estate and refining it's like drugs is that the only thing you can correlate to my small mind right luckily my mom was big meet the guy um sit down he's like hey heard you want to buy houses what do you have to spend simple me we have 150. you never do that if you're listening don't ever tell anybody how much you have to spend um if you don't mind me asking where'd you get it oh so my grandmom's house in south philly got 152. why why'd you sell it you had equity you could have refi you could have fixed it up you could have he gave me a laundry list of things in five minutes that i wrote down um and that was like my first real crash course at the table but i still got three properties under contract sight unseen i don't know if you guys want to do that either um you know sight unseen he had one that had a tenant in it already gratefully occupied he had one that had a tree growing that's my tree house baby so if you ever catch me on youtube talking about my trees yup i got that one for 6 500. wow and he i asked him if you could sell it to me for 65 what did you get it for he said 25 where you get that from he said the auction so now remember the sheriff's own place they sell people's houses said i was gonna take my grandma house and sell it for 2500 still putting it together as i go along not really knowing right what it looked like full circle long story short i purchased three houses from him at that time and then fast forward later um because i bought houses from youtube okay and people that were on youtube craigslist instagram yeah my first wholesale lesson i was at the table wow i met a guy on instagram house looked really good the treehouse taught me i don't like full rehabs at all right and the guy is like at the closing table with another guy but the guy's eating chips the one i met on instagram he just eaten chips and i'm like well are you guys partners he's like no he's the owner i'm like well who are you instagram guy so i'm a wholesaler oh well what's that he said you see line 48 that 15 000 i got that for assigning the contract selling a buyer so at the table i paid 15 000 to learn how to wholesale wow um but i mean it was all games to me i never looked like like felt like i was losing because i started with nothing anyway right so i kept going at the end of the year we had nine properties no more money how was rich cash for that was it house rich cash [Music] half of the portfolio was producing now i would say a little more than half i think we only maybe had three or four that actually needed work okay so we got some tenants i really learned that i like turnkeys early on so now we're down to our last i can't remember but it wasn't quite enough to buy a house so i thought okay um so we started to go to the auction okay let me just figure out what this place is people go there so we can at least try to squeeze this i think it was 7 500 and we won the property for 1700 it was a lot it was an actual house but then i go to pay so we go up to the front and they're like no we don't take cash here um not the full amount you put them on deposit and you can bring the rest back in 30 days so the deposit was 600 oh that was crazy i'm confused you bought it for 1700 at the auction but you only put down a deposit 10 is what they ask for but they have a minimum okay so every auction has an opening bid yeah they have a deposit that's required yeah and they have a time frame in which you are required to pay the balance yeah that's it 30 days 30 days that was for me 30 days okay some places give you nine months some people give you a week some people want it at the end of the business day right depends on the market that you're in okay that was crazy to me yeah cause 600 well we had that when we were poor yeah yeah so that's when i learned that the auction was a wonderful place six hundred dollars is what you put down yeah and you have thirty dollars 30 days to bring them 1100 so am i am i guessing ahead to here are you in a long term keeping or short term long term so were you flipping those houses at that time at the auctions no so at that point i couldn't believe we just purchased a 1700 property but moving forward every time we got low on cash we were flipping them so selling it before the balance was due in that 30 day time period so this was our way to accumulate liquid cash without having to put out anything more than 10 down so here's my question because you're teaching me i'm not in this space and so i'm asking all the questions for all of us right that's right what kind of house is except what kind of house does seventeen hundred dollars purchase so the seventeen hundred dollars that was actually a lot parcel of land which in turn i end up using as a parking lot 600 a month so houses i mean they're going to always need work yeah but the value of something remember what we just talked about with husbands and wives right yeah you might have a diamond if you dig it out the dirt you got to clean it you got to polish it you understand yeah it's still a diamond right right that's real estate right you're going to get a property it's cheap because probably nobody wants it it's in a crazy area or it needs a lot of work and then most investors they're shooting for specific areas you might get something that's in an area that's like crazy people still live there though right so you have to consider all of those things when purchasing but no you won't get a turnkey for dollars but you will get an opportunity oh now that was a well that wasn't my job no turnkey but you will get opportunity and the opportunity may not come today no but it will come yeah so would you say out of those properties some of that is going to be transferred to your kids oh most of it most of it most of it the only things that will not be um is things that are not in an irrevocable trust and that's like leveraging like monopoly because you always want to keep liquid available to you just because like you said if you get a flat tire yeah or you need something crazy you want to have that option right but you should always have so you look at emergency fund like a hundred thousand whatever number you use right we look at emergency fund like this amount of assets x amount of assets available to you so we'll use some as pawns for sure that's what it's for right but for the most part you hold as many as you can because it's musical chairs what is the goal of viewing your husband i'm curious financially what's y'alls going man so my husband wants to make 600 000 a month i think he said in on 50 different states too i got to ask him again something crazy he wants something crazy but he's a philanthropist so we both come from really really humble beginners like troubled homes all of those stuff so he does not waste food because he remembers times when he was hungry yeah yeah so like for me i wasn't a foster kid but i was raised by my grandparents my mom was young my dad was young they were trying to figure it out so i have a soft spot for children hence the foster care initiative that i have going on now so we just like giving back i don't think we came up with a numeric goal i mean millionaire was always a thing right everybody's a millionaire now so we was like oh this is kind of easy so obviously you say billionaire but i feel like our financial goal is to create comments for our children that's like a big thing we do look up like rothschild stuff is a book called what would the royal childs do um and we started to look at control said it one more time what what the rough childs do what would the roth child's oh i'm sorry what did the rock what would the rockefellers do i think that's what it's called what yeah i'm about to say i might look that up right now you know when you name books you might hold up uh yep the rockefeller oh yep yeah what would the rockefellers do and it's about kids it's not about kids it was more so how he set up the generational wealth so okay phd it is honorary but i had to do a dissertation let me tell you how that came about i was speaking at schools because i'm young and relatable and i prompted them to try something i said hey you guys all have student loans you guys all are going to get a refund check take that refund check and go to the auction mark my words and i told them what i got with my refund check when i was in college which was a paratory birch flats a bunch of sweaters from forever 21. what else i guess i'm crazy but for those of you who are listening a refund check is extra money that comes to you after your fafsa right so take this and go to the auction i'm telling you it's 1700 1800 long story short 35 of the class that i taught really bought houses and 35 is not a big number but i was really good with conversion rates anyway because i'm very natural when i speak to people i'm like you i'm one of you right right anyway the board of regents was like hey do you have actual curriculum i was like no i got zoom classes send it over i'm thinking nothing of it it's me in front of a ring light teaching people you can still hear that it's the q a you know you record the whole segment yeah they're picking through it i didn't know that they would actually look at it i didn't know what they were looking at it for long story short they then offered me an adjunct professor position um i did really good they saw how i was operating and they wanted to offer me an honorary phd wow but i had to do my dissertation so during my dissertation process i was defending generation of real estate you know that whole bit and when you google it it says money and or assets pass from generation to generation i argued it i combated the whole thing and i said that instead it was work which is wisdom opportunity resource and knowledge i give you money yeah if you don't know what to do like i could have sold my grandma house and flexed i could have did a lot of stuff i could have been very afraid and let it go to the auction and not gained anything i could have learned my wholesale lesson and thought i was in over my head i mean even when i sold her property i made 152 only to find out i could have sold it for 350. you know it was so many times where i could have said this is not for me but i decided to persevere instead and i kind of kept going and that's how i got to this point but when you think about money and you think about like how it works there's nothing more than a tool which is why it goes up it goes down you know it's paper they grow up and tell you money doesn't grow on trees it's a lie paper grows on trees they print it out whoever said it was like these cliches that they give us um it's super crazy so our biggest thing is to make sure that our children understand that they have options give them flexibility expose them to different things they live on a golf course now and they love it closing on the property 20 000 square feet 77 acres of land what do you do with 77 acres i don't know yet but they're gonna do something with it they'll see it they'll see it uh my husband he's in a farming he's from down south originally where his family is she knows south carolina me too i'm from columbia he knows all riley you know riley absolutely yeah so my grandma right now where is she she's in south carolina so my great grandma anyways he's in all of that he used to pick bullets wow and i remember when i because they still do family reunions his family i would go and all the kids get their baskets and i'm like we bout to go pick cotton what are we about to do you know they would be going to pick fruit and like listen they fished and his uncle would fried a fish and it was something like i never saw before i'm a city girl so i didn't know um but that's what we want to teach them yeah living off your land togetherness family like harmony really harmonizing and not you know just a crab and a barrel type of mentality because that is very consuming i feel you let me ask you this question what would you say y'all's net worth is with when it comes to the homes now six million six million the portfolio with real estate alone and as a millennial 28 and 30. how much i i'm just gonna pause right there yeah six million and that's and that's papers see i go on live i show my receipts i show deeds because it's a lot of people who cannot do that we know that because we were going to participate in a hedge fund we'd be doing big boy stuff yeah that's right you gotta know your numbers got to know your numbers you know i i i invited you to the table man because someone told me it's like man you can't you sh you should always borrow money you should always stay in debt especially when it comes to real estate because that's an asset right you know and my philosophy is i believe in assets i just don't believe in debt right now i don't have a problem because i have a mortgage on my home you know but i mean what i'm not going to have 28 properties or mortgages on because if if life was to happen i don't have the income to pay for 28 hours not not if when life happens thank you for correcting me because it will it will happen kovit showed us that it's going to happen um why would you say it's important for especially black people black families but really all people because i have a very large audience right to be debt-free um you think about being a slave and you think about being told you're not good enough and you can't do anything but in the same breath you're doing everything raising children mining crops picking cotton building houses being beat all the tormented all of those crazy things you think about how they literally had no control over what they were producing and then you think about us right now in today's time would you want to have a bunch of stuff that's not really yours i mean even when you're debt-free you still got taxes so we already gotta battle with that yeah yeah but would you want to have something that you're like living off of it's fruitful you love it you're excited about it and a person like a mortgage company has a dual and sale clause or you know they have something where they're selling your mortgage to somebody else and they're just changing your terms and they pull your livelihood from right up under your feet think about that as an individual and then think about that as a family what you tell your kids when the sheriff come knocking over your dirt locking you out your house because you missed the payment because life happened as if life doesn't happen to them right so you think about you know what's your end goal in life yeah and you understand that the more you relinquish control well the more you set yourself back ultimately that's how i look at it i think um you asked a really good question earlier before we started see we had like double interviews it was a vibe it was vibe but you said how hard is it to get started in real estate debt-free right and i said it's just as hard as it is to get out of debt once you start real estate with it and that was just so golden i was about to ask you that question it's the same process right you're going to it's this these things are inevitable okay but if you're constantly in debt you're on bondage how can you be financially free if you're in financial bondage i want to be financially free and the first thing you do is get along yeah what's free about owing somebody right not free right freedom is i'm cool i can sell what i want to sell you know not worrying about having to give this bank the profit off the top because i owe them yeah um we even talked about like the american dream yeah people automatically push fha and conventional right 30 years is a long time even if you purchase the house at 20 in 30 years you'll be 50. and 50 years old nobody wants to stay in one place for 50 years or 30 years pardon me so what you got to do then rent it out nobody has the common sense to pay off the loan before they rent it out so now you got a tenant that's the hack that's the game there's a game right you got your tenant paying your mortgage you see tenant don't pay yeah yeah you got another mortgage yeah cause you ain't gonna buy your house debt free you don't win from rob and peter right they're now having a rob paul right you got two debts right two houses yeah only one of them is producing right and then it stops and then for you your house like your primary that's not an asset yeah it's a liability you have utilities yeah you gotta decorate it y'all put food in the refrigerator yeah you gotta keep it clean yeah you got so many things so the only fulfillment you get from that house is that you get to live there yeah and i always say they use equity you get equity and appreciation and come on people don't follow their taxes the right way right we're not going to sit here and say people writing off they're not doing that they don't know how i'm not faulting them right but if you had a piggy bank which is your equity that you never cracked open does it matter what's in it right honestly let's see you got a little glass bank right on your destiny putting money into it over and over if you never crack it open it doesn't matter right right when you die somebody else might get the piggy bank but if they don't know his money in there they might not even look that's true and that's again you don't teach your children how to look in the piggy bank you don't have these conversations you know so i would just rather live life on my own terms and give myself the opportunity to figure it out there's room for failure and there's room for error when you don't have somebody down your back like you owe me every single month plus interest yeah that's scary now are you teaching people how to get into the real estate game without debt so i have a course called the no debt real estate method but i think i uh i kind of fell back from teaching i like it i do like the idea of it um i have a lot of successful students and clients as well like now i teach financial advisors of athletes how to do this like nfl mba i do those things a lot but it's a mindset first i'm realizing it yeah it's not money it is so you know we talked about banks with predatory lending yeah well right now is predatory teaching so me saying hey this is how you do it doesn't mean that you are mentally prepared to get it done right so right now i just focus like i do my ted talks and i talk about being ready you know knowing that you're good enough having faith trusting your process yeah you know generational wealth you're almost out of the other yeah really simplifying the whole real estate process as a whole yeah and then we can get into how to go to the auction wholesale that part is simple yeah not easy but very simple yeah no i i i love this man and and this show has just been this is crazy i got i got two more quick questions for you um one is why we were talking earlier did you really buy a hotel so let me tell you about that by accident you bought a hotel by accident by accident how do you buy a hotel by accident well i mean you gotta afford it but what ended up happening was auction i was going crazy with the auction this was a 600 run yeah yeah and i did it with probably i think 300 and something people first i was like being sneaky i thought i got over i'm gonna try this dude with my friends i can't work as your sister i don't know if we can keep coming back right it's working now right so i'm like oh we can make this a thing so we're using instagram my husband's like yo you gotta this is a business right i was like okay i created a paypal like business owners wow no llc i don't know what i'm doing eventually somebody was like limited liability i was like oh i googled it you know came up with it and after a while it became very lucrative but very popular it's one thing for me to say i'm something it's another thing for somebody else to say no she's she's serious she helped and then it kind of kept going long story short i got the attention of a mayor there wasn't even an estate that i live in there's a whole nother mayor on instagram who was going through a redevelopment process of his city he said you got all these people on your instagram to talk about how you helped them buy houses well i got some houses they can buy so at this time i didn't know again i just show up and learn so i was like okay let's auction them let's auction them off yeah they were owned by the land bank so because they were state property you can't sell them but people can invest in them so i can't auction them off for profit but we can put investment strategies together so when we sat down and kind of talked about what our plans and our goals were so it's a hotel first of all this specific place has a lot of hotels that just didn't make the cut it just it just didn't work for them everybody was going bankrupt yeah things weren't as lucrative you know casinos weren't as popular because if you got one place that has 50 casinos who's to say who's going to go to which one right right so is this building oh terrible the building was very ugly uh still reinforcement and concrete though so no asbestos no mold that's all we could hope for at the time okay and it just made sense because i wanted to do transitional housing for people who aged out of foster care okay got you so that was one of those things where it was a creative deal structure um sat down with the owner hey this is what our plans are now with transitional housing not to say too many numbers but you get 20 000 a month per person okay and that depends on the square footage of the room you put them in so if you have a hundred rooms and you're making twenty thousand dollars per room for occupancy you get an idea of the numbers right if you put two people in those rooms you literally double that number monthly right wow so you sit there and you talk to this person who got this abandoned the whole time you're like yo give it to me partner with me you know how you want to do it and that was the way that we were able to get started without the upfront cash seller financing is a thing right right even that's tried and true for me today this market is eight i hate it right i do not do market deals right everything i do is off market right the auction has a bunch of inventory people are losing it they look like us they're not educated you stop it you're going to lose it when the bank takes it they're not going to give you any money let me give you enough to move forward and i'll take over the property just like that yeah simple so that was kind of what the hotel was except they wanted two million dollars so it wasn't super extensive okay and they weren't losing it either but it was sitting there for years yeah not doing anything so you got people in it now for transitions so that was being fixed it's been fixed fixed and then y'all will open up for transition we are and then so i was running for state representatives too and i got the attention of another mayor because i'm in a town that's really small right i won't say where i live but it's like the ozark kind of just more affluent and i was like okay the state rep said hey i'm going for a congressman now you should take my place but she couldn't sell me on it she just said it and i had to figure out what that meant right so i was like okay let me run i don't know what i'm doing my i really am one of those people who just arrives to challenge us i'm insane a little so anyways i'm doing that um midway through i realized wait i'm not ready to campaign this is crazy boom but the mayor calls i heard you running you'll be a great ass that i looked you up i'm like how did you find me she was like yeah you're enlisted but you called the democratic office not too long ago wow because financially i'm a republican but i'm a democrat at heart i got you like it's just it's just one of those things where if i get to the other side i might have to bring my people and make them understand what it means to be a republican gotcha not just what it looks like gotcha but anyways so she she's the mayor of my town she's a woman and she volunteers at a shelter substance abuse so she takes me to this place right and it's an old resort so this is right up my alley resort hotel boom and they're making 56 000 per person a month and she sat me down with the owner like you can never underestimate your brand and just how you carry a name because some of this stuff just falls and i'm telling my phone wrong one day and the person said their name i'm like just cover the phone like this this is crazy right um but yeah so there's so much promise in that field so i'm sure we'll purchase more commercial buildings because the way we're looking at is just a commercial building wow you say hotel when you think of hospitality and vacationing that's not what we're aiming for we're aiming for a bigger space more rooms bigger space more yes maximize your earning potential earn a potential while minimizing your liability and helping as many people as you can in one shot because it'll be easier to do that opposed to just going to find 100 houses because you'll get 100 houses but they'll probably spread out you know i don't know what else to do with this show i mean you you you and your husband have accomplished a lot and definitely have the tools where can my people follow you to where they can learn more they can get deeper into this because i think that you you have the the answers to really how to get into this space without racking up debt and we can't do that all in one one hour yeah and so i definitely encourage my tribe if they want to get into the real estate game to build generational wealth um and to how to really do it wisely during this season especially with the housing market being so crazy high right now where can they follow you to find out more of your information rolls buds investments everywhere so rose buzz that's miss my grandmom's name is rose that's where it came from tried and true i didn't put too much thought into it grandma was rose i'm a rosebud there you go rules buzz investments on all platforms and we're going to create a code we're going to create anthony because i like you your pool code said go to dot com savings i want something like that i was on personalized since the alpha's coming up i want something that belongs to me so we'll uh we'll create an anthony cool for your tribe yeah and listen you know pace yourself yeah you can get rich quick but it's the reason why they created the term get rich quick scheme wealth is not quick wealth is long term wealth has substance wealth has a good foundation you do not want to pour a foundation full of water it will not sustain create your foundation you know figure out what it is that you need before you start thinking about what you want yeah right it's not really money that separates people it's desires yeah this is oh this is amazing yo this is amazing y'all we're gonna drop all of her information in today's show notes so make sure to check that out and as we're closing out today's show i want to leave you all with today's scripture proverbs chapter 31 verses 16. it says she considers a field and buys it from her earnings she planted a vineyard that literally speaks volumes to today's show and here is today's affirmation and i want you to repeat it after me if you're watching this on youtube type it in the comments um if you are listening to this on a podcast in your car you're in the shower you're cooking just repeat this out loud at least five times type it at least five times i have been given endless talents which i utilize to benefit me and the people i love and we literally learned that today um so listen hit that subscribe button if you enjoyed today's show and watch this on youtube please hit the thumbs up button and share this with a friend share this with someone and show them it is possible all right so it's your boy anthony o'neil check out my girls information in today's show notes don't forget to check out my friends over there prize pool they will bless you so you can start saving that money so you can start investing like jamesa and her amazing husband all right peace out y'all [Music] [Music] you

Channel: The Table With AO

Views: 620,550

Keywords: anthony oneal, anthony oneal debt free degree, anthony oneal student loans, money, budget, how to save money, personal finance, debt free, how to budget, debt, how to make money, how to get out of debt, african American, student, EYL, Dave Ramsey, earn your leisure, black wealth, how to pay off debt, finance, stock markey, black, wealth, retirement planning, credit card debt, bitcoin, building black wealth, real estate market, home buy 2022, should i buy a home in 2022

Id: LmfXZAZNWY0

Length: 47min 32sec (2852 seconds)

Published: Mon Jun 06 2022