Storage Wars: How To Own Your Own Storage Facility - Ramel Newerls #321

you got you got real estate regular real estate too right yeah how many doors right now I have 28 doors I didn't have 40 but I sold off a good amount of them for a profit for profit yeah all right I know if you was like why unload what's going on because so before I got into the social storage business two years ago right so this is all me like learning as I go in and it's new for me right but it real estate is the same uh you know real estate is the same principles yeah 2020 happened had 40 doors we know what happened in 2020. pandemic yeah so I had a good amount of my tenants to stop paying me right but I'm stuck with the mortgage water the taxes sewer complaints tenants upstairs complain is that this person is too loud I'm still dealing with all the headaches that come with it but I'm not getting the cash flow and to be completely honest with you I was debt heavy and cash poor yeah because my cash flow is really not where it once was but I still got all these bills so now I gotta pivot I'm thinking damn what I'm gonna do I need to figure out how to stay afloat head right because if you do it the wrong way could take you out so that's when I started selling on some of my properties the liquidate the market was at an all-time high for sure overpaying this is the best time for me this stuff I'm gonna sell at any point I started selling a lot of my properties right getting some cash back and so okay now I can reinvest and this is how I switch lanes into the so storage business because one of the properties that I was selling I had a tenant in there in the buyer wanted a vacant so I went to the 10 I said hey I know you owe me the last three four months just take it and leave he still was giving me push back I don't got nowhere to go I said yo I'll give you two thousand dollars cash for keys two thousand dollars okay what you owe me I just want you to go he said all right deal but can you put my items in a storage unit for 90 days till I figure out what I'm gonna do I said all right let's do it and that's when I started looking for storage units in my area everything was sold out booked up couldn't get nothing and that's what I'm like oh nah I need to be on this Saturday yeah that's when I started you know YouTube and Googling everything you could think of went to a mastermind and then you know jumped from there but to answer your question I sold a lot of my portfolio because I needed to liquidate and now that I'm in a self-storage business it's day and night like I don't have to deal with tenants living in my units I don't have to deal with no Plumbing yeah no kitchens yeah no bathrooms no toilets it's just an easier way for me to make money and real estate still get the depreciation Equity the tax advantages to leverage everything everything that you could think of and what are you doing 30 years old 40 units of real estate bro I started I started early though oh started at 22 23. really you working a job yeah right I was working at Pepsi I was a sales rep where yeah 22. yeah so I went to college University of Albany I graduated my bachelor's in business management and then I got this full-time job working at Pepsi as a sales rep it was a management training program so you work your way up but I did that for six years so every single year I would just use my W2 income and go buy property and keep building and buy property because I always knew I wanted to leave the job I always knew I wanted to be my own boss I just had to work my plan foreign podcast we're here man I just interviewed successful people and we try to figure out how to get you to be successful too you're gonna help with that today thanks right thanks so um I'm very interested storage units because it just seems like a never-ending cycle of money I I have actually right now I have two storage units okay and someone asked me the other day they say yo you got two storage units I said uh yeah and they're like why and I couldn't give them a good answer because I needed another one for like another purpose because the first one was full but the first one isn't full anymore and I just got two but I don't know man welcome to the show man so I introduce yourself we're gonna get into it bro yes sir so my name is Ramel new worlds 30 years old born and raised Brooklyn New York you're 30 30. yeah commercial real estate investor credit coach I teach training mentor real estate professionals how to go out there and purchase self storage facilities but I teach them how to do it with creative no money down strategies really okay so uh how many storage units you got I got three facilities we have three facilities over 300 units and how much do you charge per unit it varies right it's like an apartment building so you got one bedrooms two bedrooms everything varies so five by ten ten by Twenty every unit varies based upon that size and then obviously the market so what I could charge in Pennsylvania versus Tennessee would be different hold on where are your surgeons at Pennsylvania got one Tennessee then I just bought one in Arkansas really where you live I live in New York you don't live in none of the states it's just you see if I was going to get a storage unit it'd have to be in Georgia because I need to go see it and touch it well I guess I got real estate now but I'm gonna break down the game on why you don't have to live it plus New York it's expensive so the price that I'll pay in Pennsylvania or Tennessee Arkansas and New York is gonna cost me Triple that it's just like any real estate asset gotcha so where at in Pennsylvania is the storage unit Fayetteville Fayetteville how many units are there 88 you bought the storage unit existing facility purchased it how much 750 000. 750 000 and how many units again 88 88 units what's the average price per unit 90 bucks so 10 by 10 you rented out per month yeah running numbers we in this Pockets race 90 times eight so 90 times 90. that's what like eighteen thousand it varies because we got it because we got five by fives then we got 10 by 20 so that's the average middle number based upon how many you know how many of you run out what's your worst performing that is my voice before that was my first one that's my worst performing but I learned the most from that guys because I just jumped in and I realized that I overpaid a little bit but on my other two facilities I I got I got it back okay yeah 750 000 750 000 in Pennsylvania what about Arkansas Arkansas six hundred fifty thousand six hundred fifty thousand how many units 109 109 and how much per average around about that's oh what's the range lowest from from 79 up into about two hundred and fifteen dollars okay and you said you just purchased a third one so the Arkansas went up that's my most recent one okay let's purchased that in July and you have another one in Tennessee Tennessee correct how much I I would sell the finances so that was 900 000. but I did I did the seller financing place that's 103 units okay walk me through the seller financing walking me through that deal so all right so with the seller financing with Tennessee this seller he owned a bunch of like storage facilities apartment buildings he wanted to get out the game he was just like yo I'm tired coveted chasing people I don't want to get into that so that's what we target we like to Target people that it's been in the business 20 30 years got a lot of equity don't have no mortgage they own it free and clear so I position the team say listen you know if I go to the bank it's gonna take me about 90 days to close right I'm gonna do the SBA loan 90 days could close I could close in 30 days let's do the seller financing all I gotta do is come to the table with five to ten percent right if I come to the table with five percent would you be able to let me in here I'll still pay you so we did the um we did the 900 000 that's how much wood it was so how much did he went down he wanted seventy thousand dollars down seventy thousand dollars so I gave him seventy thousand dollars down and now I got a note that I'm paying him right now three thousand how long is the three thousand dollars three thousand three thousand dollars yep okay it's interest only so I gotta pay him three years from now balloon bro so that's why okay so you're he must not be charging a lot of interest what like four percent or something yeah so let me tell you about this building okay so I I got he wanted five hundred thousand dollars for this building and well 4.95 he went at 10 down okay so I had to give him almost 50 000. but it was seven percent owner financing for five years okay so my my note came out to about twenty eight hundred dollars a month interest only now through God's grace I was able to like pay off the I just I mean I just I was grinding we ran some play like it was I was just grinding and then I just paid it off so right now on the building free and clear but for the set the the 400 the 500 000 dollars at seven percent interest landed me almost three thousand but you got a nine hundred thousand dollar building and you only put down seventy thousand you know it's only three thousand for three years but what's dangerous though we gotta warn them most people who do own our financing or seller financing simply don't pay off that loan by that balloon yeah but I will because I got the strategies to do so for sure for sure what's just what's the strategy so it's commercial real estate so you know with this space that you purchase the more Revenue I could drive out of the facility the more the value of that facility is going to go well so I'm not focused on like the time frame I'm focused on how fast can I increase rents so I'm looking at every facility in the area what are they charging for the rate how can I bring that rent up 50 bucks 30 bucks what can I do I threw some vending machines on the facility as well so now I got money coming in from the vending machines actually partnering with U-Haul so U-Haul we running the transportation service they give me 30 profit so I'm just asking whoa whoa what 30 Commission on what on whatever they generate from the U-Haul service what's the U-Haul service though what is it so they rent out the trucks yeah so anybody that's moving in out of the units they need a truck you want to rent it out movers so you put do you put trucks on your your so there's your trucks there you all sits on the facility we have an office and and we have one person at U-Haul pays I don't pay them U-Haul pay them they sit in the office and they manage the U-Haul portion of the business and you all just catch me 30 commissions or for whatever they generate I don't I'll let you handle that I just get my money because I'm providing the space in the service and this is how long you have this one this facility I bought this last year may what do you think the U-Haul portion brings in oh that's bringing in anywhere from 20 to 30 000 a month commissions so so you make twenty to thirty thousand a month just by having U-Haul on the facility correct and I don't even have to manage that part of the business because it's your home because it's U-Haul they have their own operations they do their own thing I just provide the space for it all right crazy okay okay okay I'm I'm trying to that's crazy so the the um the the units what percentage are you booked or run it out so um I'll tell you each facility no just just this one just this one oh for this one yeah I'm at 85 90 occupancy right now but I like to keep it that way why because it's it's power and like keeping the waiting list having turnover if I fully rent out the unit then it's tough for me to actually increase my prices because that person is stuck in that unit so the more people I get to come in as new clients I can always increase my rent because it's a new client coming in Lieutenant Lieutenant coming in you got the game figured out bro you got the game figured out when do you plan on paying off do you plan on paying it off or do you plan on refining yeah I plan on refinance it got you Cash out refinance what's my plan as soon as you can or you you're trying to bump up as close to three years as possible I'm gonna get as close to that three as possible and then increase the value as much as possible by that time and then I'll refinance so I shouldn't have paid this building off I should have waited well that's good I'm glad you paid it off the only thing is I mean that three thousand dollars a month I mean I guess compared to what you're paying right now it doesn't really um it does it doesn't hurt too much but the three thousand dollars a month the only reason I did is because I I had the cash okay and the cash is just gonna sit there and if I just pay off the building then I get to save three thousand dollars a month in interest so that's really you paid to build it off cash yeah oh yeah be person I wouldn't me personally I wouldn't do that because why would I have my cash sitting in the building I'd rather take my cash and go buy another asset I don't like having cash bro but you take the cash and go buy another building true but in another business but if I was going to get another building I'll just refinance this get the cash out and buy another building but I don't want it to sit there that's true you know what I mean I just don't that's true I think I said too much I don't think my wife knows you know I mean I just try to keep anyway anyway yeah so I get what you're saying um but Anything could happen in the time where you're getting closer to the three years where the bank is moving slow or they you know stop lending for some reason and then the person who owns the building that was playing the bank right now all the three thousand dollars for those three years which is 36 000 times three years it's like a hundred thousand dollars plus your original seventy thousand you just gave them 170 and they take the building back and all the improvements and stuff like that they own it that's dangerous ain't it that's that's the risk that's to come with the game but why not just try to refinance as soon as possible because I want to make sure when I do refinance I'm gonna pull out the most cash if I go and refinance now my revenue is not at the most capacity I know I could get it to so again with commercial real estate the value of your facility or apartment building whatever you purchase it goes up the more Revenue you generate so as I continue increasing rents adding more value my revenue is going to go up my value of my building is going to go up now when I refinance I would have pulled out probably three hundred thousand dollars cash out to my pocket but if I wait I could probably pull out some more um so you'll pull out the 300 000 you'll still have a note which is going to be comparable to what you're paying now it'll probably be more refinance yeah but still you I mean I have that money back I can go reinvest and actual asset will pay for itself yeah U-Haul is paying all the bills bro yeah so why these particular places Arkansas Tennessee you said right in Pennsylvania why these particularly we can't get none in Atlanta uh because it's like real estate anywhere you go so if you buy something in the middle of Atlanta the price is going to be higher versus if you go to Alabama right so true it's just about me knowing where I could get the most bang for my buck that's number one number two I like to buy Aries that's more I say like Rural Road area Suburban areas right um and I want to see whatever the market is growing so think about 2020 a lot of people start moving out of the city like New York everybody was getting out of there Cali everybody's getting out they're going to Vegas New York they're going to Pennsylvania a lot of people going to Florida so I want to be where the population is growing not where the population is going down so a lot of people in New York they move to Pennsylvania there was a 13 population increase in Pennsylvania alone in 2020. so everybody's moving guess what they use a storage unit because they're moving in and out they're relocating so now they need my services Arkansas Arkansas was one of the top five cities in 2020 that people moved to so that's really why I picked my pockets because whatever people are moving to that's why I want to get ahead of it so I'm in real estate I I have some real I have some units in uh Louisiana I got a bunch in Louisiana but my sister terica she lives there she manages it she understands real estate better than anybody that I know so I trust it put my money in because her money's tied into it too so we're good there but I am afraid of investing in a project that I I can't like get to so it's not me with that fear bro yeah it's not about what is about who right so I hire a management company the management company does everything how do you know how to trust the management company this is their business here you know like they get paid when I get paid and it's not just me hiring somebody off the street this is well-known management companies and you think about all the big self storage facilities it's actually management companies that manage these facilities not the actual owner this is their job this is their business this is their credibility here so so you go into the market you go to Arkansas and I guess the first question is who manages specifically storage facilities the first thing I'm gonna do when I go to the market I'm going to look in the five mile radius what are the facilities around the facility that I'm looking about now I'm going to go to those facilities that I'm look that I'm not looking about but it's around the area and I'm going to act like I'm a tenant hey how many units do you have available what's the rent what are you charging right I'm just picking their brain so I can know over here if they are at full if this competitor is at full capacity then I want to buy that facility because where else well where else is everybody else going because they're full there's a bunch of people that is looking for a unit and they can't find nothing because that person is full so they're going to come over here if you are not full and you have a lot of units available then that's kind of that's kind of shaky right but I'm also going to ask them hey you know what's the management companies that because most mostly the management I'm sorry what's the sign of okay they're not full they got a bunch of years and they're like hey no we're wide open how many you need stay wide open that's that's scary because the demand may not be there right the population may be low people don't have the money so I don't like to go in an area where the income is too low because if you if your income is too low you barely can afford your rent what's the chance of you spending extra money to get a storage unit I can't even afford this over here so you know those are indicators will determine whether or not I want to buy however back to your original question right when I go inside that facility the person that's at the front office works for the management company I'm going to have a conversation hey you know what company you work for what's the management company it's casual pick up what they saying all right cool I'll call I'll call later and now that's how I want to find out who's the the primary Management Service in that area man smart y'all you mad smart okay so in the searching of finding these units tell me about that process so it's various ways that I do it right number one is a platform that I use is called off-market Self Storage so you're going off Market Self Storage free trial for seven days right but I can find every facility across the country every facility across the country get their phone number get the full name and then I have my virtual assistants Coco and they call every single day hey just looking to find out if you have any interest in selling is there any motivation there and it's crazy because most of the Self Storage owners are Mom and Pop owners independent people when we think about self storage most people think about CubeSmart extra space Public Storage those are the big dogs right the only 20 of the business they dominate the other 80 is just Mom and Papa have been in the business 20 30 years right so we want to Target those individuals get on the phone and just see what we land outside of that is another platform called Biz by sub so not only self-storage you might find a restaurant you might find on there yeah so you you know yeah you're going there somebody that's motivated tired they could list their self storage on that site and then you go in there and negotiate it's a business brokerage website so those are two we got a few but those are like two ways of me getting into it that's kind of ill because it really for to you it doesn't matter where it's at if it's a good deal it's a good deal you got a formula a financial formula yeah it's like buying a business because I don't look at comps I don't look at arv I just really look at what's my bottom line right what's the net operating income when I look at that bottom line I want to see depending on what the purchase price is how long is it going to take me to get my money back that's really once I get that formula everything else we'll figure out later once I find out okay if I'm gonna put down a hundred thousand dollars how long is it gonna take me to get back my hundred thousand if I can get it back within five years for me I'm good with that that's just my formula somebody may have a different formula I like to get my down payment back within five years after that now I want to see what is the market trends is that it seems like a long time though down payment five years it's not it's not long so the one you just said right 70 000 that's a down payment it seems I mean with with just the you all part that's I mean four months that's true however there's other expenses that goes into that I'll have to spend money on like what so construction right if I need to go and add new do any an expansion right now there's a lot next door to it that we're expanding we're gonna do another 40 units so that's going to cost me around 180 000 just to do that so total how much how many vending machines am I putting down right how many people I need to pay to make sure that I can manage this because I'm not in that state so all of my carrying costs I have to include everything how much am I putting down I need to get everything back within five years yeah that makes sense all right listen every single week every episode you hear me talking about themorningmeetup.com it's the community let me show you what's happening here every single morning Monday through Friday there's 400 plus people on a zoom call right we're learning we're talking we're growing together and this is you there's all these people here it's all these people in the morning meet up hundreds of people reading books growing we get together quarterly it's amazing and for some reason you just keep looking at just go to themorningmail.com and get in the circle and then you'll be like way happier just the morning meetup.com let's get back to that episode that makes sense are you including in that number your salary nah no because I don't take money from the business for me I just let the business bring its own money in and reinvest because I have other vehicles that I make my money my earned income so for me I have I'm 30 years old so I already built it in my modest I want to retire about 40. so it's compound interest all the money that I get I want to reinvest into the business until when I'm 40 I'm gonna look up and like oh this is cool now I can start paying myself until then I'm going to utilize all of my earned income strategies to take care of my lifestyle and just kind of lay low don't what's your what's your oh so so this is like between the storage you got you got real estate regular real estate too right yeah how many doors right now I have 28 doors I did have 40 but I sold off a good amount of them for a profit for profit yeah all right I didn't know if you was like why unload what's going on because so before I got into the social storage business two years ago right so this is all me like learning as I go in and it's new for me right but it real estate is the same uh you know real estate is the same principles yeah yeah 2020 happened I had 40 doors we know what happened in 2020 pandemic yeah so I had a good amount of my tents to stop paying me right but I'm stuck with the mortgage water the taxes sewer complaints tenants upstairs complaining this person is too loud I'm still dealing with all the headaches that come with it but I'm not getting the cash flow and to be completely honest with you I was debt heavy and cash poor yeah because my cash flow is really not where it once was but I still got all these bills so now I gotta pivot thinking damn what I'm gonna do I need to figure out how to stay afloat head right because if you do it the wrong way it could take you out so that's when I started selling on some of my properties to liquidate the market was at an all-time high for sure overpaying some this is the best time for me this stuff I'm gonna sell at any point I started selling a lot of my properties right getting some cash back and saying okay now I can reinvest and this is how I switch lanes into the self-storage business because one of the properties that I was selling I had a tenant in there in the buyer wanted it vacant so I went to the 10 I said hey I know you owe me last three four months just take it and leave he still was giving me pushback I don't got nowhere to go I said yo I'll give you two thousand dollars cash for keys two thousand dollars okay what you owe me I just want you to go he said all right deal but can you put my items in a storage unit for 90 days till I figure out what I'm gonna do I said all right let's do it and that's when I started looking for storage units in my area everything was sold out booked up couldn't get nothing and that's what I'm like oh nah I need to be on this Saturday yeah that's when I started you know YouTube and Googling everything you could think of went to a mastermind and then you know jumped from there but to answer your question I sold a lot of my portfolio because I needed to liquidate and now that I'm in a self-storage business it's day and night like I don't have to deal with tenants living in my units I don't have to deal with no Plumbing yeah no kitchens yeah no bathrooms no toilets it's just an easier way for me to make money and real estate still get the depreciation Equity the tax advantages The Leverage everything everything that you could think of and what are you doing 30 years old 40 units of real estate bro I started I started early though oh started at 22 23. really you working a job yeah where I was working at Pepsi I was a sales rep where yeah 22. yeah so I went to college University of Albany I graduated my bachelor's in business management and then I got this full-time job working at Pepsi as a sales rep it was a management training program so you work your way up but I did that for six years so every single year I would just use my W2 income and go buy property and keep building and buy property because I always knew I wanted to leave the job I always knew I wanted to be my own boss I just had to work my plan that's extremely lit before you work at Pepsi what were you doing I was in college I wasn't I was just in school you know so I was in college I was like hustling I was doing different things trying to make money just getting getting by when you say hustling what do you mean I was I was selling drugs really yeah in college in college I've said I don't know how yeah I was in college and I was selling weed and pills a word do you have any um were you smoking I was a smoker all right so this is how I got into it all my friends every single Thursday Friday Saturday by going out for parties everybody smoking weed everybody like they doing pills everybody doing crazy stuff in college and I'm thinking like yo I always had this mindset y'all be to use it I'm the dealer that's just it so I figure out a way sir y'all oh y'all smoking I must go get it I'm gonna go back home every two weeks go get it come back up here and sell it and I did that did that and then I got caught got arrested on campus or yeah did you have a lot on you I had I have a lot on me it was like a little over a pound that's me of a quarter ounce gotcha gotcha how long did you get like that for I didn't get locked up I got arrested but then they let me out I was on probation community service because you were young yeah and I had I was in college too you know you were in college and that you get away with stuff oh he's the college kid just doing some dumb stuff so they're um arrested me and then they gave me terminal probation gave me community service I did all of that and that's when I said I gotta do something different you know yeah I saw weed too I just I just wasn't good I wasn't good at it I just felt like I I was I had a lot of customers but I wasn't making no money for real you know what I mean I just wasn't good at it right so after after that you graduate first you graduate college graduated first job out Pepsi making how much 55 000 a year you're lit to everybody in my family and friends 100 man you're The Golden Child I'm the man but to me I might not I'm worth 55 million so this is just a stepping stone yeah and what'd you learn from Pepsi a lot I learned systems I learned uh marketing strategies right so just understanding that even down to the shape of the bottle the color of the bottle is a certain purpose certain reason why they shape it that way every um market so if I'm going into this area this ZIP code and this is crazy but I would sell Hawaiian Punch Crush orange soda like they would sell that in this ZIP code because this is what people buy unfortunately I go to the more affluent area seltzer water is life water is Gatorade so just understanding the target audience what products you sell um distribution it's another thing right so distribution when people come out with a new product so Gatorade will come out with a new product we would have to have 100 distribution in every single store in the first two weeks it was like mandatory if you didn't do you got written up this new product this innovation has to be in every store in two weeks excuse me and then the whole concept was you got to give your product the best chance to win so when I think about my business this if I'm selling a product or have a service I need to have 100 distribution I need to be on every podcast I need to be on every Tick Tock YouTube I need to be speaking everywhere because it's distribution you got to give your product and service the best chance to win so those are some key Concepts that I took from from working dang that's crazy that's why yo bro I learned so much from my job and people started talking about yo you don't need a job there's so much you can learn I'm interested in like you said Pepsi right in the Pepsi model so what is 100 distribution mean there's a certain number that has to go into the stores so we have a area that we are responsible for so as a sales rep this is my route I may have 200 stores in my route so out of the 200 stores in my route every single store needs to have this new product in there within two weeks that's 100 distribution for what my area what I cover gotcha so you have to sell them on getting this new product there yep after going in hey this is the new Gatorade um you know it's low on sugar this is why you should have it I will have my facts so they'll give me a little cheat sheet and I will have all of the different data points about the product going into the store and why you should buy this because this is what the customers are gonna like did you have any pushed back on like what is the hardest thing about selling the product or due to all of them just take it no because they they're buying it they're spending money these small mom-and-pop bodegas right I was in Pennsylvania at the time when I was working you had these small little bodegas right they limited they got a little bit of cash a little bit of checks and they just week to week they don't have money to be buying every product you bring in they want to buy what they know sales they know the customers coming in to get crushed already a Hawaiian Punch that's what they went about they don't want to this new Gatorade I get that out of here right so now I really got to go in there and sell and say Hey try three crate three cases and I'll give you one free Deuce no let's come up with different strategies let's try to put it in front of the store let's put it at the middle shelf so when somebody goes to the cooler and open up it's the first thing they see versus being at the bottom so it's just different things so you gotta I got you gotta sell the placement you gotta attack on it yeah but I loved it because it was sales and helped me be a Salesman in my business right but it doesn't mean you have to sell you have to close 100 of the clients you just have to sell 100 of the inventory that you have correct yeah got it so there's certain thing all right so Pepsi know that we on MLK Boulevard like Crush in Hawaii they got the data they got all the stuff how much you buying how much you drinking they know all of that and then we going in and so and would you leave I left in 2020 2020 2020. so this is oh so like you're building you're building your portfolio up you got 40 doors as in a as a real estate investor and you got your job which is lit and you decide to leave why because I always knew I wanted to leave I always wanted to be my own boss I didn't want nobody to tell me when I could go to the bathroom when I could get days off right my dad he so growing up my dad he was a correction officer so he worked 60 hours a week and like I love my dad but he wasn't home yeah my mom she passed away when I was 12. my grandmother passed when I was 14 so it was just me and my brothers and my dad you know what I'm saying so we're just like we you know I did I didn't like that so my dad would always tell me like yo never settle for a job you know a job stands for just over broke just use it as an opportunity because you know you pay check the paycheck one paycheck you've done somebody can control your whole lifestyle so I always had it in my mind growing up I want more this is just a stepping stone for me so when I got to the point where I had 40 doors I was bringing around seven thousand dollars a month I said okay I could leave my job as soon as I left my job covet happened and then now Tim is not paying man oh man this is crazy I just left my job thought I was good tell me what's going on emotionally though stressed I'm like it's uncertainty nervous but then at the same time it's like I gotta get it done you know I have to get it done and that's when I have to Pivot I start selling some properties and then it got into the self-storage business so everything happens for a reason yeah you know they I always say you never know how strong you are and to be as strong as your only option yeah like when I got arrested in college and they was about to expel me it was no I didn't even tell my dad I couldn't tell him I'm like no I can't go back because you know now you know now you know now but yeah so it's just it was a lot that I was I was going through but it helped me get to the point that I'm at today oh you leave your job and then covert hits so you must have left like early 2020. it was around January January January 2024 like it was hearing Rumblings about it but March is when it got crazy oh 100 yes I was supposed to do an event uh a conference right this big uh place this one guy for production paid him maybe fifteen thousand dollars and he just not giving me my money back and it was just because you you think it's happening but it's like ah I'm still gonna be able to do this live event Georgia said you can't do events they just shut it down right so like that was it was so it was a shock because we don't know what's going to happen but I can imagine from your perspective you got the secure job you finally muster up the cards to say I'm out did you ever did you call them and say yo I was just playing my bad I was tripping I was going through some mental health issues getting my job back negative I was not doing that I had too much pride I feel like I had something to prove I left I shouldn't approved yeah yeah that's how I was operated so that seven Grand a month goes down to what I was at 25 2800 a month is this profit profit we're still making money but I'm not making the money that I was making gotcha so we pivot it is is that the driver to obviously you sell some of your property so you got a bunch of cash right but the the storage unit were you looking for something else at that point or just that situation just that that situation happened I realized it I jumped into it and then the rest was from there I wasn't looking for anything else I was just trying to figure out how to at least get cash so I could maneuver through this real estate market at the time because I understand it's Peaks and balance so I just got to weather the storm you know I wasn't planning on getting into the storage business it just happened you recommend entrepreneurship hell yeah why because um it just helps you become the best person that you could be it just really challenged you and I feel like if you want the most out of life you know you got to challenge yourself most of us are complacent you know and you you can still work a job but still have some type of ownership you know I did both so I always say yes I would recommend entrepreneurship now for most people it may not be you know fit they may not be cut out for it yeah because you got to be willing to go broke you got to be willing to lose you got to be willing to be stressed but ultimately it challenge you to be the best person so I would recommend it to everybody we just dropped an episode maybe uh three weeks ago maybe where we were describing all the reasons you shouldn't be an entrepreneur there's mad reasons bro especially right there's so many things that you cannot control so obviously you can't control whether your job uh fires you or not but for the most part there's some sort of control in your particular area at the job and you know how much your check is going to be for the most part your check's not late if you're running for playing for a corporation but there's so many there's so many like mental health related issues with entrepreneurship that I don't know I I recommend entrepreneurship but not for a reward but almost for something that you can do outside of your job just give you another chance for entrepreneur I used to be like I used to wave my entrepreneur flag everybody needs to be one I still believe it but not for financial reasons I think you should have a hobby that can pay you to make you happy but I don't recommend entrepreneurship for everybody just like as much as I used to yeah it's it's a tough thing I again I still recommend it because I'm thinking Legacy right you can't pass down your job you can't if you own a product you own a business that's bigger than you it's gonna outlive you you could pass that down to your kid so you know just stretch yourself you got to get out your comfort zone yes it's gonna be hard it's not for everybody but you know if you go through that process it'll be worth it me and Jay Hill was just having this conversation about Legacy and I think it's overrated really yes it is you got kids yeah how many one and one on the way okay uh when's the next one come February February I got one coming November too uh how was your first one he is 15 months bro we're identical mine is 19 months I know exactly what's going on with you okay we're gonna have a therapy session together after this okay but I I think there's there's no guarantee that I can pass down a uh I could give you my business but there's no guarantee that you either want the business or two are going to properly be able to manage it and three I you know a good struggle bro it produces something that I can't explain what it is but a struggle produces something in people that privileged people will never understand becoming resourceful resourcefulness like I don't know I don't know if I automatically just want to I I don't know if my daughter growing up as a wealthy child does more harm than good I don't know that's deep entitlement that's deep yeah yeah because we don't know we first generation of this so yeah it's tough but um like what I do right I try to create an environment for it that's that's what I try to create right and it's obviously new my son is new um only one and a half years old got a baby on the way so we still building out the environment but I start with my nieces and nephews right so every single year I have what I call a family Legacy meeting yeah so I bring my aunts because it's my sister's best friend everybody come in one room because you know how it go once you do want to stop making money in a family you the family's Bank Dave can I borrow yeah can you send me this and if you say no you feel bad because you technically you do have it together I don't feel bad you don't feel bad no I why not because I don't be having it again yeah especially so so my business has some money I don't got a lot of money okay I probably what am I like today I probably got about three thousand dollars in a bank okay like that I'm gonna use for like personal stuff I ain't got it you want me to give you half my break yeah but don't you have access to get it of course it's like going through a tough situation right you know technically I you know technically gotta get to it yeah I only have three thousand in my bank but I have the access to get it does that still make you feel here's here's what I understand and what I've seen anytime someone's ever asked me for money I'm talking about like this is my whole life when I'm working at the Cheesecake Factory somebody yo I need a hundred dollars I need 200. anytime that I someone asked me for some money and I didn't have it to give they worked it out yeah it's true it's figured out it was never so detrimental that they just oh my gosh I'm their life for some reason anytime someone's ever asked me for money if I didn't have it to give they didn't die they didn't lose their house they were okay so you better than me out of your book what my cut this was two months ago my cousin asked me for 2500 because he needed some money I said I ain't got it I said I could he was he was in a situation I was like I got a thousand he said yo cause I'm gonna hit you back next week I know that's not true yeah I know it I know it it's like I'll give you the 2500 I'm like yo I've one I'm not giving you the 2400 because I'm not getting that back I'll give you the Thousand though you said you're gonna pay it back but I noticed I know it's not gonna happen but now now that I gave the Thousand you said you're gonna pay it back you know what happens now what you won't feel comfortable asking me for no money because you still owe me the thousands last time I thought listen I anyone if my if one of my family members are listening okay you need a thousand dollars I got you I got you that is my limit because now if if I give it to you you don't give it back you're not going to ask me for money anymore and it's only a few people in my family that's going to ask me so if they all borrow a thousand then I'll never ever have to yeah yeah is that a sick way of thinking I think the same way my grandmother used to tell me that all the time like listen some like our money from me you give it to me they don't give it back it only cost you a thousand dollars to get in my truck great and your number is awesome your number might be 100 your number might be 200 500. I ain't got it right now I give you 500. they'll get the other money from somewhere else and they're not going to pay you back and you're good you're right that's how I look at it all right let's I need to take a page out of you because absolutely guilt because I know I I can get to it and I don't want to see you suffering you know so I got caught up in this process of just giving out money and damn near going broke again right I'm like I can't do this so they're not suffering first off listen if I was always you how to make a million dollars would you give me ten thousand like if I had a course teach you how to make a million dollars a year positive you're gonna make a million dollars would you give me ten thousand of course you would it's no brainer right so in a calendar year we make seven figures with the podcast but there's 21 things that I extracted from that that you're going to need to launch a podcast but I only got time to give you three right now one is you need a distribution platform the distribution platform is what you upload your podcast to that platform sends it to Spotify Apple Google play so it's your supporters can actually listen to your podcast you're also going to need a microphone you need a really good microphone so it's crispy audio and three you need an income strategy this is not necessarily a hobby unless you're gonna make it a hobby but I can teach you how I made the seven figures with these 21 things now the good news is you don't have to give me ten thousand my ebook is only 37 bucks okay so listen go to podcast ebook.com and get the 21 things that you need and I can explain it in detail all the things that you need okay podcast ebook.com let's get to the episode do not suffering just notice I gotta get out of that yeah and here's another point if they are suffering if they're in this situation and they can't get out of it chances are they'll be in that situation again and they're probably the type of person that is always in that situation at what time at what point do you let them figure out their life right you're right they've probably been in that situation a thousand times over their life and they're used to being in a situation and if I bail you out now you'll be in that situation again you're right maybe I shouldn't look at my I love my family but I think most of my most of my family is like well all of my family is like self-sufficient nobody really asked me for stuff like that because my family different it's like everybody trying to figure it out any hey yo you you we see that you got it or you don't look like you got it you know what I'm saying and now so back to the original point right I was saying about the family Legacy me let's create the environment that's actually dope I bring everybody together and I do a seminar same way we would teach out anywhere in the community but we do it as a family and then there's some prerequisites in order for you to come to this meeting you got to have your credit profile opened up so I give you the link prior to the call make sure you sign up get your credit report opened up because we're gonna look at it when you get here hey make sure you get your LLC set up this is the person that's gonna do it for you get it together so now you gotta have your LLC and you got to have your credit profile opened up when you come to the meeting because when you get there we're going to look at everybody's credit profile then we do a family so 200 I make everybody give 200 a month if you want to be a part of this and every month we'll take the pot and we'll do something towards somebody's Financial development so this week I mean this month we'll fix Auntie's credit next month we'll fix my cousin's credit right so we helping everybody at this month we'll take the money to start this person's t-shirt business we'll do whatever we can to keep the money going around but this concept has helped some people fall off that's just what come with it but one particular person in um one person in particular my cousin so he worked 40 hours 50 hours a week very responsible person pay his bills on time but he knows nothing about business and credit right when I looked at his credit profile he had an 800 credit score didn't even know he had it until we looked at his profile he just paid his bills so now I'm able to tell him hey look you got a 800 credit score with the information that I have we can set you up and go get access to business lines and credit business credit cards right we could use this to start your business keep going and now we just do that amongst each other and build that environment out so I'm hoping that we keep this thing going and my nieces my nephews they see it they develop when my son gets older my new child gets I don't know if it's a burger yet but when they get older we keep this environment going and hopefully when all the assets that we do have they have the mindset as well to take the assets and keep it going and not just f up F of the bag that is lit that's hard I ain't gonna lie to you okay okay I I need to start I need my family differently we didn't have a family meeting man how many people are in the family that come it it varies every minute some people fall off but we got a good 12 a good 12 of us actually actively put up to 200 some people next month I got a good 12 people and how often every year we do it but every year we have to meet in but every month we put up 200 got it and then obviously we communicate throughout the day if it's a play that we got to run or if there's an investment so that's how I buy a lot of my facilities with no money out of my own pocket so I have my family get you some business credit card if you got a 401k you got money saved let's put it together we're gonna go buy this asset and I'll just give you equity in a deal I'll give you return on your money I have all the resources information but I'm pulling everybody together so we all can have some type of ownership we all have some type of belief because as you know it starts with the belief and now you put up some money and I can say Hey you have ownership and our family investment that keeps you encouraged keeps you so amazing something you're how old 30. Kyle Bros are you like 35 or like my age I'm 37 like you are going to be set because I think you have the you have the right mindset and I hate using the word mindset because it's so like overused and it's an underrated word because the whole game is in your head yeah right but like you're you're really setting your whole family up for generational wealth now I I do agree with that because it's not like you're passing money down to them you're passing down a system or a way of operating yes in a way of thinking and getting them used to like vocabulary words like credit financing so I would imagine that you're telling them all about the deals that you're doing which is why they're asking for money I'll be telling everybody all right about that break it down all right so your vision or are you actively looking for storage units now yes absolutely always looking always you got anything you're looking at right now we haven't found anything recently that that makes sense but I'm sorry what was your formula I was I was we was going to a formula and then I went off on a tangent somewhere give me your formula that you're looking for I know you said uh we started out with getting my money back in five years but there was no one I want to make sure I can get my money back right the next thing I want to look at is where could I add value so is the opportunity for me to increase the market rent so what that means is if the facility currently that I'm looking at buying if they charging ninety dollars for a 10 by 10 what is the facility charging up the street are they charging 109 well I need to increase my rents to go there if they're charging lower than me I need to figure out why right I need to always know that if I buy this I can increase the income is there any room for expansion right can I add more units is there a college nearby is there a high school nearby is there a hospital nearby because if I you know how can we drive more traffic to the facility what's going on in the area are they building a new stadium right I want to know all these these things what is the population grow what is the media income is buying a business so I need to know what what are the factors that impact this from an environmental standpoint got it so what is the marketing like let's say I get it do you Market or do you just let it kind of organically do what it do no I don't do any crazy marketing I might work with apartment bills so one of the facilities that I have in Pennsylvania there's apartment complex up the road so I go to the apartment complex meet with the person in the office and say hey I have a storage I just purchased this up the road if you send anybody over I give you a 10 commission right so now that's a partnership because everybody's always moving in if they don't have extra space they have items send them over this way you do a big grand opening but that's about it we don't really do a lot of marketing because once it hits capacity he's like can't do much it's full you know and I don't really want I want it to be I want to always leave 10 to 15 um vacancy because I want to always we have an opportunity to turn the units around I want to have it completely booked because it's completely booked this is the rent I'm charging it's stabilized now unless I increase the rents but now I'm just this is just the income that I'm having is stuck I don't have no real Revenue management gotcha there's a question I'm learning to ask because my entrepreneurial mine will start entrepreneuring again so this is an important question that I I gotta ask what are the biggest headaches with this business because we could talk we'll talk about it and be like yo I know me I'm going to get a storage unit it's just easy money Cakewalk but I've been realizing that nothing's like that nothing so what are the biggest issues the biggest issues you may have people that leave their stuff in the unit stop paying you know I have people to get somebody got arrested not not paying it um not interested they're not paying their units now we gotta go put a lock on their unit try to get him out do an auction so now you're going through all that process to get them out get the unit cleared out hire the auction company to come in and do that process so that can be a headache for me it's not too much of a headache because I come from the eviction space in apartments that's a way tougher process so this is a much easier process so you'll have that um you have people that's homeless that'll come hang around and try to sleep in the facility because you know it's nobody living there so you really don't have people management managing it 24 hours right yeah you have I have somebody that go there four or five hours of the day leave after that it's just that's why I get into it I mean you gotta jump the gate hey you know you're not sleeping in the facility because the facilities are locked I mean the store units are or if it's vacant you just leave it open no it's vacuum I keep a lot period but you have people like I it hasn't happened to me yet but one of my mentors somebody broke into one of the units and was sleeping in it and that's like they was actually living out of the Union because it was homeless he got it you got a facility in LA and La is a big home homeless problem so those are things that will impact you know what that's that's really about it and obviously you're gonna have the right people in place so you know the right management company it's in the storage business I say is not what it's about who who can you put in place to make sure that this is running efficiently you know what's crazy as you were telling me that I was just thinking to myself if I was homeless I just ran this whole play in my head like I just cut the lock and had my own lock and put a lock on there and I just lived there you thought about that imagine who else thinking yeah that's crazy I just thought about I was like that is actually a play all right so that doesn't seem like too big of a problem no what else um yes that's pretty much it is like you don't have those type of issues because again like you own real estate the majority of the problems with real estate is because it's people living there yeah it's really not the asset humans it's the humans As Dead As making a problem yeah for sure because this person's complaining the the toilet is broken now the kitchen sink is leaking the tennis upstairs don't like the tennis downstairs right partying noise it's the people that live there that create all the the issues that comes with the business yeah humans something else bro unfortunately we are yo when somebody doesn't pay I saw there was a TV show what was it called when it was like Storage Units Storage Wars where somebody can go buy their unit like if I stop paying somebody can buy it how does that do you do that I don't do we hire Auction Company to come do it because technically legally as the facility owner you cannot auction it if you once they don't pay you put them in collections and then we hired an auction company to come in and they run the auction process take one day have people come out they bid on the unit you don't even see what's in it you just got a bid Whoever has the highest bid they pay they get whatever's in there that's it and you take it you clean it out that's it so but you do have an auction company that well done that does it correct has anyone really come up on some stuff I have it's not me personally I haven't seen anything come up like no from my own experience now not yet just be trash but I know I know people like specific that I know that got like storage units they rent them out and they got some valuable things in it they pay their rent you know they do what they need to do but if God forbids something was to happen and somebody can go get that unit it's gonna be it's gonna be a good day for the goodness crazy so I did that that's good to know though so you hire a all so there's a there's a whole company dedicated to auctioning storage units facts yeah um do you wanna get one you go half one or sturgeon just to give y'all some more games it's like it's not like I know we think of it as a storage unit that's a big thing you can actually buy some storage units cheaper to go by duplex in New York City duplex 700 800 000. one of my mentees bought a 44 unit storage facility in Louisiana they paid 300 000 for it damn you could but I guess you can always charge a hundred dollars but it's a month and it's consistent for me personally the reason why I'm into the business is not about the money per se it's all about the freedom the passiveness of it so if I could make probably a little less than what I would charge to an apartment but I don't have to deal with the extra legwork so for example one of my apartment buildings um six unit apartment that I got I evicted one of the tenants when they when they got evicted I had to go and put a new bathrooms in there new kitchen and they tore it up fifteen thousand dollars that I spent before I even get somebody else in the unit yeah so now I'm looking at my bottom line I'm not bringing in what I would expect to make because if you if I go through that every time I turn over a unit the business is not profitable you know first your storage unit you get somebody out you're not putting no Plumbing no kitchen you're not doing it just power wash Clean Sweep get them out next person in there gotcha all right I got one more one more question the um and into the formula right so let's say there's a hundred units and you can charge on average a hundred per unit okay that is that ten thousand dollars a month ten thousand ten thousand a month what's the most you'll pay for that so um or what other factors are you looking at so ten thousand dollars a month um what I'm gonna do ten thousand I'm at times that by twelve because I want to get the gross annual yeah so ten thousand times that by 12 was that 120 000. all right cool I know that my gross income is a hundred and twenty thousand now I want to look at the expenses so typically we we don't want to be in no more than 30 to 35 percent of the income um to be expenses so 30 expenses so okay 120 30 of 120 was that was 30 of 120. 36 000. so now I'm gonna look at the expenses and say if the expenses is less than 36 000 this is the deal so do 120 minus the 36 000. 90. so now my net is how much my net is 84 000 so that's the number that I want to look for that's my net operating income so I'm going to take that net operator income and I'm going to divide it by the market cap rate every Market has their own cap rate depending on like the the pace of that so in New York cap rates like two three percent because it's more fluent more expensive explain cap rate so is the capitalization race like the rate on on return how fast you're gonna get your money back so if I got a 20 cap rate 20 how many times does 20 go into a hundred uh so now it's gonna take me five years to get 100 of my money back if my cat that's why you're saying so you're going specifically for 20 cap rate well if if it is a 20 cap rate that's great that's what I want to go for 20 cap rate if I if I if I get it a little lower but I'm paying a ten percent or eight percent cap rate it may take me longer but if I know I could actually increase the rents because I'm gonna bring more money in I'm gonna add a vending machine in there I'm gonna have the U-Haul now I'm gonna say okay it probably take me a little longer to get the money but really not because I'm gonna add money this way so as long as it levels out I'll be within that five I'm good so we that 84. you're taking all of the well I guess you can't take all of those numbers into consideration where you're talking about gross you're talking about just strictly what the asset is going to produce strictly what the asset is going to produce however if you're if you're generating income and it's associated with that asset that also adds to its value so when I go to lender and I say hey the the um facility is bringing 84 000 net but I got the vending machine I got the U-Haul partnership I got um Amazon drop off right I got these things going on and I'm bringing an additional 30 40 000 they're going to add that to my income got it got it do you have all this in a formula like right now I got a tool it's called the commercial cash flow calculator you go online commercial cash flowcalculator.com and is that your website yeah that's my oh that's that's my tool the name I got a program where I teach this stuff mailbox meeting Academy but for anybody that need a tool to evaluate I built it out from A to Z it's called commercial cash flowcalculator.com you pretty much you can uh subscribe pay the fee and this is BO2 anytime you find a facility you're going there you input everything in there it has all the different variables and it'll spit out whether this is a good facility or not or it'll give you a full summary for you to go I built it up for my students because it is a lot of factors so I said I want to make it simple this is the tool go put it in here it's gonna give you a printout so now when you go speak to the seller you can negotiate better because I have all the factors on here and why this is the facility good or not got it man I like you man yeah you like you are really um I think you when you get 30 I'm 37 by the time you're 37 you'll be way more successful than I am right now I hope so because I was never thinking about this kind of stuff right it's like like you really understand business and it appears that you're really really driven and you're focused locked in man how much I'm talking about your kids a lot um it and then that's a loaded question A lot's relative yeah you're right a lot is really I said loaded question um I try my best to bring my son with me everywhere I go you know because me having the luxury of being a full-time entrepreneur I want you to just be around you know so right now do a podcast cool day in the hotel I'm gonna go right to the hotel after this we're gonna spend time together so where you live New York your whole family's here with you yeah I worry you flew them all day yeah we just talked the other day and you just flew them all down yeah that's that's how he I say that's how we roll I want to make sure y'all with me you know that's that's what we do this for that's dope that's dope so you travel with your queen yep that's it when y'all going back uh tomorrow morning guys Y'all Gonna hang out today thanks that's lit man so do you have like a particular time that you try to get home every day uh no that's something I'm working on to be honest that stuff I'm working on as far as um just that balance because I I don't truly believe there is a balance it's like some days I'm gonna spend more time with my family I'm gonna just say yo today I'm not doing nothing yeah and then it's days where it's like I'm I'm an overload right now I'm not gonna be back into 11 o'clock so it just oh I want to get better with that honestly it's just it's a constant growing we don't have a therapy yeah I'll add you to the group chat of dance bro the struggling fathers try to figure it out not in terms of struggle but you're just trying to figure out your flow right there's obviously not a balance but there should be some sort of flow I'm trying to create a Cadence what's your flow how do you how do you do it uh my I'm gonna be at home by five o'clock every day really that you do that now yeah 100 now it's not that I'm home every day at five o'clock but my my mindset is I'm going to be home every day at five o'clock and 80 of the time I'm home at five o'clock and I just wrap up my work and then I by the time I get home I take my smallest daughter because my wife has been with her all day so it's just me and her my wife gets to go do whatever she needs to do and I'm just locked in I don't I don't go in the house on the phone anymore um but I prepare myself sometimes I'll sit outside and I'm on the phone just making something happen because I know once I get in it's go time because I don't want to be the dad that when I walk in my baby is automatically running to me period every day I don't want to be to hold on baby not right now not right now I don't wanna I don't want to be rejecting my daughter when she sees me it's deep I always want to embrace her you know what I mean so five o'clock I'm pretty much done I wrap it up and I used to have the philosophy of yo I gotta get it done man I'm Burning Midnight Oil but I've learned that um like another philosophy I have is I'm gonna do all that I can today the rest I'll do tomorrow you know you'd be pressured to knock some stuff out today I think it's the rest I'll do tomorrow how did you get to that well this is good game I'll pick your brain up because how did you get to that point to say all right I I need to implement this to get home at five like would you always like that or no I mean you get tired of working all day gotcha and you need structure in your life somehow thanks if you're working a job you'd be home let's say you're working nine to five you'd be home at six o'clock and you're typically not doing work at home from your work because when work is over work is over y'all not paying for me to take no papers back to my house and work on it I'm doing all that I can nine to five because I'm not bringing it home and I'm looking at my entrepreneurial Journey the same way I work nine to five after that I'm done so after this like I got another I got a interview we got to do um at 2 30 and then I'm going home and I'm not working no more that's it yeah I gotta take a page out of your book yeah for sure you know what's crazy about that though you'll become a lot more effective running it running it that way what yo I'm so thankful for my wife actually complaining about me working all night because it I'm like all right I'm gonna try to I want to make sure that you don't have any complaints about me about like I'm working all the time so because I have a window to get things done it's less busy work if you got all day mad busy work yeah you're just doing random stuff that you can do tomorrow it's not important right now but if you got this window you know you got to knock out the most important stuff into your home the time frame that I have way more I knock out more interviews during a week knowing that I'm recording one day a week than I did when I was just sporadically because some weeks I wouldn't have none some weeks I have three but on Wednesday I'll do five of them joints if I can I'm knocking out game that's a game right there yeah man tell your wife I said you're welcome no doubt now I appreciate you coming through me I gotta do a quick commercial and then I'll have you close this out one more question okay um this episode sponsored by the morning Meetup themorningmeetup.com let me tell you what I did to remember I am I have a podcast course it's two thousand dollars and I'm selling the course because I'm teaching people how to not only start their podcast but how to grow their podcast all different monetization strategies on our podcast and people have bought the course and he was like yo it's amazing it helped them grow their podcast but I decided to put the podcast course into the morning Meetup program for free for free but the thing is morning Meetup is only 79 a month so literally somebody can join the morning Meetup take the two thousand dollar course and it can leave next month I'm okay with that but my focus is growing this community of entrepreneurs and I'll probably have you on a call one day and you'll see it's literally hundreds of entrepreneurs every single morning we're growing together I'm teaching them I get my successful friends on there to teach them and every single morning that's their routine we're reading a book together every single month we're reading a book right now we just finished what book do we finish Reese what book was it what book do we just read we just finished it it was a really really good book and now we're reading some other book I don't know how to name I don't know 12 something the one we're about to read 12 something 12 something it's supposedly a really good book but we're we always read about like we're at 14 15 books last year this year I'll probably read about the same amount together we just do a chapter chapter together let's read a chapter every night and I really don't man so go to the morningmeetup.com and uh join our community you're gonna love it okay all right so uh thank you for coming thank you I appreciate you man um I do got to ask a question man where do you think you're gonna be in the next five years because I want I'm asking the question because I want to know what you see for yourself so that I can watch this video five years from today and we can say yo he came on there and he told us where he would be in five years and look he accomplished it yes sir so that's a great question my goal is this concept that I have is called social creative entrepreneur right and um in the next five years I want to build up as much capital to invest in other people's ideas right just to be able to say okay you have this business you have that model you have that Vision how could I be able to pay to help support you get to that goal but also have ownership in this company you know so I wanna I see myself having 2 000 units I want to at least bring it in a million dollars a year in passive income not earn and take that passive income just reinvest in other people's ideas and travel the world and impact people that's truly what my goal is I love it I love it all right well I mean the clock is running now gotta keep going we said it today so five years from today yeah you got to be in a million passive or they're gonna be like seeing you do that he wasn't great let me find it so give me five more years man I appreciate you man um again uh this is very impactful because I think people just need different ideas and I think it's going to spark and somebody say yo I could do this I got a job and I ain't gonna take all my all my time where it's like creating content and building a brand where this might just be a nice little passive income stream so um let everybody know how they can find you and how they can work with you and uh close this out with a Word of Wisdom man so you can follow me on Instagram at Mogul lifestyle underscore that's where you can find me on YouTube as well MoGo elite club I'm always dropping game and uh if it's okay with you I want to do something for everybody that's that's watching this episode talk to me so um I got a course as well so I teach all these strategies from a to z um but for everybody that if they text proof I want to do this for you everybody's watching this to three four seven four two nine six four nine six so you text prove to three four seven four two nine six four nine six and I want to get them 80 off my course eighty percent 80 percent hey that's that's 80 percent that's only for everybody that's happening with you only here on social Pro I love it I love man I appreciate you my brother appreciate it thank you look man there's somebody out here that uh has a job and a dream and they're trying to figure it out man close out with some words of wisdom yes so there's a few things I want to say right number one the most powerful thing in the world is a maid of mine right whatever we decide on whatever we decide to do whether it's to go left or go right we're going to get that yeah so I always say just make that decision and yeah yeah um your lifestyle with your mindset turned inside out right because whatever we think whatever we speak whatever was hooked on it's gonna show you know so I want everybody know it starts here in between the ears make that decision I always say um you know you mad about your situation you got to make a difference you got to make a decision you got to do something so that's what I want to share with everybody and most people that want to get into this entrepreneurship game that got million dollar dreams but minimum wage work ethics so you gotta match up Million Dollar Dream gotta have me and dog work ethics so um still tap in I love it man look we can't close out no better than that man follow my brother man get you a storage unit and uh more importantly go get you some social proof meaning go build something remember how you build a document the process but come back to your community and teach them how you did it all right it's the only way our community grows we're out here peace

Channel: Social Proof

Views: 101,868

Keywords:

Id: A0WF77jztUE

Length: 74min 10sec (4450 seconds)

Published: Mon Jan 02 2023