Full Transcript for Homeownership Isn't Dead: A Mortgage Reality Check with Daniel Cruz

00:03:47,620 it's definitely been interesting for certain. You know, shout out 75 00:03:47,710 --> 00:03:52,570 to all the ladies and gentlemen who've been doing it even prior 76 00:03:52,660 --> 00:03:59,350 to 2020 20 and 2021. But to the ones who are still in it, yeah. 77 00:03:59,440 --> 00:04:00,840 God bless you. And would you 78 00:04:00,900 --> 00:04:02,970 recommend it as a career path for people still? 79 00:04:03,630 --> 00:04:08,160 Oh, I have to get to know them a little bit first, but you know, 80 00:04:08,460 --> 00:04:10,650 and not knocking on the industry. It's just it's been a 81 00:04:10,920 --> 00:04:14,220 very challenging time, and just kind of rolling with the 82 00:04:14,220 --> 00:04:15,060 punches, man. My 83 00:04:15,480 --> 00:04:18,060 a good buddy of mine, he just got into it not too long ago, 84 00:04:18,240 --> 00:04:21,770 and it's it's it's a long sales cycle. Yep, you know 85 00:04:22,250 --> 00:04:22,550 that's it. 86 00:04:22,610 --> 00:04:25,310 Not many people. I mean, there are people buying. I mean, is it 87 00:04:25,370 --> 00:04:27,920 are we kind of stagnant here in Middle Tennessee currently? 88 00:04:28,250 --> 00:04:32,090 No. Luckily, we're in a very insulated market. And with that 89 00:04:32,120 --> 00:04:36,170 being said, not just here in Middle Tennessee, we work with a 90 00:04:36,200 --> 00:04:39,590 lot of builders who do a lot of barndoes and bardominiums, and 91 00:04:39,800 --> 00:04:43,060 not just those, but the concentration is those, and even 92 00:04:43,210 --> 00:04:47,320 some modular. But East Tennessee is actually kind of blowing up 93 00:04:47,500 --> 00:04:50,830 too. That you get a lot more land than what you can get here 94 00:04:50,950 --> 00:04:54,610 locally. So we are insulated here in Middle Tennessee, and 95 00:04:55,570 --> 00:04:58,570 some of the other markets aren't faring quite as well. So 96 00:04:59,710 --> 00:05:02,460 now you. When you're at a networking event, how do you 97 00:05:02,580 --> 00:05:05,520 posture yourself? You someone know what what do you do? What 98 00:05:05,520 --> 00:05:05,760 do you say? 99 00:05:06,600 --> 00:05:11,100 You know, I I truly want to be. I am more interested in what 100 00:05:11,160 --> 00:05:15,930 other people do than than what I do. Now the the reptilian brain 101 00:05:15,990 --> 00:05:20,160 of mine side is really kind of figuring out, like, hey, you 102 00:05:20,160 --> 00:05:25,160 know, is this person a a friend or a threat? Not really, but 103 00:05:25,310 --> 00:05:28,610 truly trying to find out more about them than letting them 104 00:05:28,700 --> 00:05:32,990 know what I do. Because if if it's a good conversation, then I 105 00:05:33,050 --> 00:05:37,310 would hope they would set up one to the next one. You know, 106 00:05:37,400 --> 00:05:37,580 right? 107 00:05:37,850 --> 00:05:37,910 Yeah. 108 00:05:39,080 --> 00:05:41,350 Well, if when they ask you what you do? What do you say? What's 109 00:05:41,380 --> 00:05:42,100 your response? 110 00:05:42,460 --> 00:05:45,970 You know, I tell them that I'm in the housing industry. While 111 00:05:46,630 --> 00:05:50,680 you know we can pretty much do all the do all the same things 112 00:05:50,770 --> 00:05:55,780 that you know, and I tell people clients just the same. We all do 113 00:05:55,810 --> 00:05:59,470 about 80 to 90% of the same thing. Right. So when people are 114 00:05:59,500 --> 00:06:02,100 like, "Oh, well, you know, I do mortgage. Hey, that's great. You 115 00:06:02,130 --> 00:06:05,640 know, a lot of us do, but ultimately, it's that last 10, 116 00:06:05,760 --> 00:06:09,840 20% that really makes a difference, Jim. To hey, you 117 00:06:09,870 --> 00:06:12,360 know, like tell me why why you're different or why I need 118 00:06:12,360 --> 00:06:16,230 to work with you. And generally, that's where you know, hey, what 119 00:06:16,320 --> 00:06:18,870 are you trying to do? Because and I let people know. I was 120 00:06:18,900 --> 00:06:22,820 like, hey, I might not have everything that you need, but 121 00:06:22,970 --> 00:06:26,180 I'm really good at knowing who does. So that's where I set 122 00:06:26,240 --> 00:06:29,960 myself apart. And sometimes I'll say, "Hey, I'm a broker of 123 00:06:29,990 --> 00:06:35,450 brokers, meaning I probably may not have what you want or need, 124 00:06:35,660 --> 00:06:39,140 but I know who does. Or even if it's something that we do have, 125 00:06:39,290 --> 00:06:42,490 that maybe it's just not the strongest product. I know who's 126 00:06:42,550 --> 00:06:46,900 got the best one, and that's generally speaking where I can 127 00:06:48,370 --> 00:06:52,570 put them in the best situation that they never knew that they 128 00:06:52,630 --> 00:06:55,180 would never know the difference if they're just talking to their 129 00:06:55,240 --> 00:06:55,780 local lender. 130 00:06:56,260 --> 00:06:58,570 So a lot of so you're actually you have a lot of different 131 00:06:59,950 --> 00:07:00,810 options at hand, 132 00:07:01,140 --> 00:07:01,830 right? So 133 00:07:01,890 --> 00:07:05,370 you're a broker of brokers. Yeah, interesting. That's I. I 134 00:07:05,520 --> 00:07:07,680 didn't realize that was a thing in the mortgage industry. Yeah, 135 00:07:07,920 --> 00:07:11,220 and that's just my own little you know title to it because 136 00:07:11,340 --> 00:07:14,010 like ultimately it's really easy to be like, oh, you should call 137 00:07:14,130 --> 00:07:17,310 this guy. And no offense, you just gave somebody homework. 138 00:07:17,700 --> 00:07:17,790 If 139 00:07:18,210 --> 00:07:21,230 I can actually go, hey, you know, Jim, tell me what are you 140 00:07:21,260 --> 00:07:24,080 trying to do? Hey, Daniel, you know, like we're we're trying to 141 00:07:24,080 --> 00:07:29,540 expand this part of my one of my other businesses, and I I've 142 00:07:29,660 --> 00:07:33,440 heard an SBA loan might be

what I need. Hey, that's great, and 143 00:07:33,440 --> 00:07:36,680 they're like, oh, do you do SBA loans? I was like, I do not. I 144 00:07:36,800 --> 00:07:41,210 go, but I actually know who I got three really good guys, two 145 00:07:41,480 --> 00:07:44,920 local and one in Texas, and let me tell you a little bit about 146 00:07:45,010 --> 00:07:48,400 them before I even cue up introduction. And then the 147 00:07:48,520 --> 00:07:51,250 biggest thing is making the introduction because it's really 148 00:07:51,340 --> 00:07:55,060 easy to oh yeah I should I should invite you or you know 149 00:07:55,210 --> 00:07:57,580 introduce you to this guy. It's another thing when you actually 150 00:07:57,700 --> 00:07:57,760 do 151 00:07:58,210 --> 00:07:58,480 it, right? 152 00:07:58,630 --> 00:08:01,200 And you know people they feel that and they're like, "Oh man, 153 00:08:01,350 --> 00:08:03,690 you know, like thanks for introducing. You're right, that 154 00:08:03,720 --> 00:08:06,900 guy Tom. He's a hoot, but he gave me what I needed. I'm like, 155 00:08:07,080 --> 00:08:12,060 awesome, you know. And what I do, the and not to sound like 156 00:08:12,150 --> 00:08:15,690 it's all for free, what I do is just remind them of, go, hey, 157 00:08:15,960 --> 00:08:19,140 the next time you have anything that has to do with finance or 158 00:08:19,440 --> 00:08:22,160 lending or investment, I was like, I would just ask that you 159 00:08:22,190 --> 00:08:26,060 would you would call me and let me, you know, even if it's not 160 00:08:26,120 --> 00:08:28,820 something I do, let me be that introduction to somebody who 161 00:08:28,940 --> 00:08:29,420 can, you know, 162 00:08:29,780 --> 00:08:30,230 right? Yeah. 163 00:08:31,250 --> 00:08:34,130 What do you find to be one of the more common questions these 164 00:08:34,220 --> 00:08:35,270 days that people are asking? 165 00:08:35,600 --> 00:08:38,990 Yeah, it's the same one that we get every day. You know, where 166 00:08:38,990 --> 00:08:43,240 are rates? They're moving. Are you? And you know, basically, 167 00:08:43,270 --> 00:08:46,300 it's just kind of like, hey, you know, like, and that's the whole 168 00:08:46,390 --> 00:08:49,210 thing. Is it's not me being callous. It's the fact that it's 169 00:08:49,240 --> 00:08:52,300 like, hey, unless you're actively looking in the market, 170 00:08:52,750 --> 00:08:55,750 or unless you're you're getting ready to put an offer in on 171 00:08:55,870 --> 00:08:58,570 something, and even then, you know, like you could literally, 172 00:08:58,990 --> 00:09:02,910 you know, you could wait two to four weeks before you even had a 173 00:09:03,000 --> 00:09:07,800 lock alone. So the the market moves used to be bond market was 174 00:09:07,920 --> 00:09:11,430 boring and predictable. I could look at a rate sheet on a 175 00:09:11,520 --> 00:09:15,270 Tuesday and on a Thursday it pretty much if it did change you 176 00:09:15,300 --> 00:09:17,430 couldn't tell unless you you look at the progress from 177 00:09:17,490 --> 00:09:20,310 Tuesday to Thursday. Now it's one of those things where like 178 00:09:20,340 --> 00:09:24,200 hey we we've got some activity in the market. It's looking 179 00:09:24,260 --> 00:09:28,100 good. I I think that it would be good for us to lock in now. But 180 00:09:28,130 --> 00:09:32,390 I still always give them it's their their button to push. And 181 00:09:32,840 --> 00:09:36,140 here's why I think that right now might be a better time to go 182 00:09:36,170 --> 00:09:40,390 ahead and unlock your loan now, opposed to a week from now, two 183 00:09:40,450 --> 00:09:42,340 weeks from now, so it's a moving target. 184 00:09:46,120 --> 00:09:49,660 Every great podcast starts with an idea, but turning that idea 185 00:09:49,780 --> 00:09:53,290 into a professional show-that's where we come in. At 186 00:09:53,470 --> 00:09:57,640 It'sYourshow.co, we specialize in the highest quality podcast 187 00:09:57,700 --> 00:10:01,320 production and short-form video content. Record your show in our 188 00:10:01,470 --> 00:10:04,560 fully equipped studio, or if you need us to come to you, we'll 189 00:10:04,620 --> 00:10:07,530 bring the studio experience wherever you are. We can even 190 00:10:07,590 --> 00:10:11,100 help you build your own. With It'sYourshow.co, you're working 191 00:10:11,190 --> 00:10:14,280 with an award-winning team who's been creating content pretty 192 00:10:14,340 --> 00:10:17,850 much since 1997. So whether you're a business creator, 193 00:10:18,300 --> 00:10:21,860 entrepreneur, or storyteller, we make the production process 194 00:10:21,980 --> 00:10:26,720 simple, so you can focus on what matters most: your show. Take 195 00:10:26,780 --> 00:10:29,510 advantage of our summer special and lay out your messaging, 196 00:10:29,750 --> 00:10:34,040 starting at only $97 an hour. It's your show with our 197 00:10:34,130 --> 00:10:34,640 expertise. 198 00:10:35,660 --> 00:10:38,000 I'm Jason Miller. I'm the owner of Christian Brothers Automotive 199 00:10:38,060 --> 00:10:41,770 here in Spring Hill, Tennessee. We fix cars here, both European 200 00:10:41,830 --> 00:10:44,800 and domestic, from simple oil changes to complete engine 201 00:10:44,860 --> 00:10:47,080 rebuilds and replacements. 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00:11:07,290 downtown Spring Hill. Do we even have a downtown in Spring Hill? 209 00:11:10,260 --> 00:11:12,270 It's always now is always a good time. I always hear that. 210 00:11:12,390 --> 00:11:12,870 Yeah, yeah. 211 00:11:13,050 --> 00:11:14,220 Mortgage people in real estate. 212 00:11:14,400 --> 00:11:15,330 Oh yeah, yeah. Let's 213 00:11:15,390 --> 00:11:15,660 do it now. 214 00:11:15,990 --> 00:11:20,250 Oh, you know, realtors hate me because like sometimes when you 215 00:11:20,250 --> 00:11:23,300 know we actually get. It's usually my client that I'm 216 00:11:23,330 --> 00:11:25,970 referring to them, but every now and again, they're like, "Hey, 217 00:11:26,120 --> 00:11:29,780 man! They're like, "You know, they've they've decided to put 218 00:11:30,020 --> 00:11:33,140 things on pause, and you know, what's that about? And I was 219 00:11:33,140 --> 00:11:36,140 like, "Well, you know, they they said that their budget was here, 220 00:11:36,560 --> 00:11:39,410 and then you know they were happy here, and they're able to 221 00:11:39,470 --> 00:11:42,640 manage it here, and then you start showing them houses that 222 00:11:42,640 --> 00:11:45,460 were priced up here, you know. And you know the the difference 223 00:11:45,550 --> 00:11:49,660 between that short, you know, the long fall really was quite a 224 00:11:49,690 --> 00:11:53,530 bit different. And you know, while I love rice and beans, not 225 00:11:53,590 --> 00:11:55,720 everybody else would like rice and beans every single day of 226 00:11:55,720 --> 00:11:59,200 the week to to not be mortgage poor. Well, you got a lot 227 00:11:59,230 --> 00:12:04,500 of people who you know you see it on Facebook a lot, and 228 00:12:05,010 --> 00:12:07,380 they'll come into the market and say, "Well, I'm looking for a 229 00:12:07,470 --> 00:12:13,320 home with five bedrooms. You know, 3000 square feet has to be 230 00:12:13,500 --> 00:12:17,850 in Franklin, and we only want to spend about $1,800 a month. And 231 00:12:17,850 --> 00:12:21,320 it's like, "Well, how much you putting down? You know, which is 232 00:12:21,320 --> 00:12:25,550 the car business is what we'd call that champagne on a beer 233 00:12:25,670 --> 00:12:28,550 budget. Oh yeah, those type of dreams. Oh no no no, and you'd 234 00:12:28,580 --> 00:12:31,430 have a lot of people that you know, and then they could start 235 00:12:31,460 --> 00:12:34,520 getting flamed in the comments and stuff like that. But the 236 00:12:34,940 --> 00:12:38,210 realism and it's like I don't even think you can get that in 237 00:12:38,240 --> 00:12:39,200 Tennessee anymore. 238 00:12:39,470 --> 00:12:42,700 No, you know, and and if you did, I don't know if you'd want 239 00:12:42,700 --> 00:12:47,140 to live there. You know, and and that's it. And you know, I will 240 00:12:47,290 --> 00:12:51,460 say I put this on our industry is that it's up to us to really 241 00:12:51,520 --> 00:12:56,170 educate our our buyers, and sometimes even even our realtors 242 00:12:56,380 --> 00:13:01,260 as to you know, hey, they might have told you what they told you 243 00:13:01,470 --> 00:13:03,870 when you guys were doing your your discovery, you know, 244 00:13:03,990 --> 00:13:07,350 conversation or your you know interview, whatever you want to 245 00:13:07,380 --> 00:13:11,340 call it. When we actually looked under the hood, it looks a 246 00:13:11,370 --> 00:13:13,920 little bit different, and that's okay. You know, like it's not 247 00:13:14,040 --> 00:13:17,010 terminal; it's just a matter of things have changed a little 248 00:13:17,040 --> 00:13:20,280 bit. And once they actually saw what what the monthly mortgage 249 00:13:20,430 --> 00:13:24,020 price tag look like versus what they were hoping for. I was 250 00:13:24,080 --> 00:13:28,220 like, it's a bit different, and that's okay. Now, are you able 251 00:13:28,460 --> 00:13:31,910 to kind of pivot and show them more of what's in their price 252 00:13:32,060 --> 00:13:33,110 range, and that's it? 253 00:13:33,350 --> 00:13:37,130 What's the going like? What's the threshold between? Okay, 254 00:13:37,220 --> 00:13:39,560 this is what you're where you're comfortable and approved in a 255 00:13:39,620 --> 00:13:43,000 mortgage, but you know, hey, you got a little bit of champagne on 256 00:13:43,180 --> 00:13:50,200 a you know decent IPA budget, right? You know, what's the the 257 00:13:50,380 --> 00:13:53,350 difference between like, hey, here's the upper part that 258 00:13:53,410 --> 00:13:57,010 you're approved on, but you know, the house that you want is 259 00:13:57,100 --> 00:14:01,500 about 30, $40,000 more. Is that a doable thing? I mean, I can 260 00:14:01,530 --> 00:14:03,360 you go to the realtor and be like, hey, it might be worth to 261 00:14:03,540 --> 00:14:06,360 ask them if they'll come down midway. I might be able to bump 262 00:14:06,540 --> 00:14:08,160 a little bit. Is that does that happen? 263 00:14:08,310 --> 00:14:10,380 Yeah, yeah. No, that's a really good question because, like, 264 00:14:11,040 --> 00:14:15,270 what you know during my conversation, and it's not just 265 00:14:15,420 --> 00:14:18,510 in that initial conversation. It's as a reminder and says, 266 00:14:18,630 --> 00:14:23,720 hey, you know, Jim, when we first had our discovery call, or 267 00:14:23,960 --> 00:14:27,200 you know, our sit down, what have you, you told me that your 268 00:14:27,470 --> 00:14:31,280 ideal payment was at about 2200, and you said your max payment 269 00:14:31,340 --> 00:14:36,020 was at about 2800. How does that still resonate with y'all? Now 270 00:14:36,170 --> 00:14:39,560 that's everything all in. That's taxes, insurance, HOA fees, 271 00:14:39,830 --> 00:14:42,190 everything that's out the door. That's what's coming out of your 272 00:14:42,220 --> 00:14:45,700 bank account. Is that still holding true? Or now that we've 273 00:14:45,790 -->

00:14:48,700 actually had a chance to look at all the numbers, and now you 274 00:14:48,730 --> 00:14:51,160 know, there's also the the emotional attachment to that 275 00:14:51,280 --> 00:14:54,550 house that you've you've been looking at. How does that 276 00:14:54,580 --> 00:14:57,310 resonate with you now? And then you know, sometimes they're 277 00:14:57,370 --> 00:15:01,020 like, well, you know, we we had a really long. Talk and now we 278 00:15:01,020 --> 00:15:04,680 we can actually probably bump up to like 3000. Okay, you know, 279 00:15:04,740 --> 00:15:08,310 like that's tippy top though, you right? So then also just 280 00:15:08,850 --> 00:15:11,790 laying you know laying that with the realtor as well, just 281 00:15:11,820 --> 00:15:15,030 saying, hey, I'm not you know I don't want I don't want to be 282 00:15:15,270 --> 00:15:18,210 you you know like I have faith in you to do what you're 283 00:15:18,300 --> 00:15:21,170 supposed to do, but this is where their their heads really 284 00:15:21,410 --> 00:15:23,810 at, I was like, I just want to kind of arm you with that, so 285 00:15:23,900 --> 00:15:26,930 that if they want to go look at a house that's way out of their 286 00:15:27,020 --> 00:15:29,780 budget, you can go, well, you put it on me. I was like, hey, 287 00:15:29,960 --> 00:15:32,660 you know, Daniel had said that you guys were comfortable at 288 00:15:32,810 --> 00:15:35,930 this, and then that was kind of like your, you know, this was 289 00:15:36,020 --> 00:15:38,390 your tippy top, and this is definitely out of out of the 290 00:15:38,510 --> 00:15:40,870 tippy top. They're like, no, you're right, you're right. You 291 00:15:40,870 --> 00:15:43,840 know, that's why we hired you, and that's it. 292 00:15:44,050 --> 00:15:46,960 It's funny when we first bought our house in Vegas. I don't know 293 00:15:46,960 --> 00:15:49,960 if I told you this story, but the real estate agent who we 294 00:15:50,110 --> 00:15:55,060 loved when we started seriously looking, we did the pre qual and 295 00:15:55,150 --> 00:16:00,100 all that stuff. She showed us all the quote used houses that 296 00:16:00,130 --> 00:16:02,520 we could afford, and both Courtney and I were like, "Oh 297 00:16:02,580 --> 00:16:05,340 hell no! He was just putting us in like you know the barrio and 298 00:16:05,400 --> 00:16:07,680 stuff like that. Yeah, and I guess because of new 299 00:16:08,130 --> 00:16:10,260 construction, it was almost similar to the car business. The 300 00:16:10,440 --> 00:16:14,250 used cars were yeah, they were better deal, but you you know 301 00:16:14,460 --> 00:16:16,110 you never knew what you were buying, and if it wasn't 302 00:16:16,140 --> 00:16:18,810 warranting and stuff like that, the new cars always came with 303 00:16:18,930 --> 00:16:21,560 all the dealer incentives and manufacturer incentives and all 304 00:16:21,710 --> 00:16:23,870 you know all those things. Similar with new home 305 00:16:23,960 --> 00:16:27,200 construction. So that was our first home because all of a 306 00:16:27,260 --> 00:16:32,030 sudden she's like, "Well, here's what you're actually qualified 307 00:16:32,150 --> 00:16:35,150 for if you were to buy quote used. But let's go look at these 308 00:16:35,210 --> 00:16:37,820 new homes I picked out and blah blah blah. And she showed us 309 00:16:37,820 --> 00:16:39,770 like a middle of the road home, and I'm going, "Oh, this is much 310 00:16:39,860 --> 00:16:42,400 better. You know, if we could do this, she's like, "Oh yeah, 311 00:16:43,270 --> 00:16:43,330 yeah, 312 00:16:43,540 --> 00:16:43,690 okay, 313 00:16:44,320 --> 00:16:44,380 yeah. 314 00:16:44,530 --> 00:16:45,610 When do we start here before? 315 00:16:45,880 --> 00:16:45,940 Yeah, 316 00:16:46,360 --> 00:16:46,480 you know, 317 00:16:46,780 --> 00:16:49,450 yeah. And you know what? Like, I appreciate the fact that she 318 00:16:49,540 --> 00:16:52,330 actually gave you the runway to sit there and go, "Hey, you know 319 00:16:52,360 --> 00:16:55,450 what? I don't want to be pigeonholed or pushed into just 320 00:16:55,510 --> 00:16:58,300 looking at new construction, what have you, or whatever it 321 00:16:58,300 --> 00:17:02,050 might be, or even entertaining a different neighborhood. And 322 00:17:02,500 --> 00:17:08,040 honestly, Jim. Like now, me and my team, we focus more so on new 323 00:17:08,160 --> 00:17:10,680 construction. Like I said, barn dominiums, barndoors, even 324 00:17:11,100 --> 00:17:14,130 modular builds. Jim, some of these modular builds, they're 325 00:17:14,250 --> 00:17:18,810 crazy. They're like 4000 square feet, and unless somebody told 326 00:17:18,900 --> 00:17:23,030 you what to look for, versus now not to be confused with 327 00:17:23,090 --> 00:17:26,930 manufactured modular is in its class by itself. It's still a 328 00:17:26,990 --> 00:17:30,350 stick-built home. It's just built off-site and then it's 329 00:17:30,470 --> 00:17:34,220 brought in and and seamed together and it's on a permanent 330 00:17:34,310 --> 00:17:37,730 foundation. Same thing with the barndominiums and the barndo's. 331 00:17:38,090 --> 00:17:41,200 You know a lot of it's prefabbed, not all of it, but 332 00:17:41,260 --> 00:17:43,810 you know, a lot of it on the Barndo's Bardominiums, you know, 333 00:17:43,870 --> 00:17:46,840 the trusts, what have you, and they bring them in. It's 334 00:17:46,870 --> 00:17:50,650 amazing, but the whole thing is, is that there's been about six 335 00:17:50,680 --> 00:17:55,060 or seven times in the last, I don't know, it's called not even 336 00:17:55,330 --> 00:17:58,120 a full three years, 30 months that it's actually been more 337 00:17:58,120 --> 00:18:02,190 affordable to buy brand new or you know have one built than it 338 00:18:02,250 --> 00:18:06,450 was to buy an existing because just call for what it is. The 339 00:18:06,870 --> 00:18:10,140 homeowners that

are selling now they need to get every dime that 340 00:18:10,170 --> 00:18:14,070 they can out of the home because that lets them level up or get 341 00:18:14,130 --> 00:18:15,330 to the next stop, right? 342 00:18:15,630 --> 00:18:15,690 Yeah. 343 00:18:15,869 --> 00:18:18,959 So with a with a new new construction, the builder's 344 00:18:19,019 --> 00:18:22,969 like, I'll build it for this, and you know, after the land and 345 00:18:23,029 --> 00:18:25,519 and all the other things that go into building a new build, 346 00:18:25,549 --> 00:18:30,019 they're like, this is actually, if I'm right, this is actually 347 00:18:30,079 --> 00:18:33,379 more affordable than me buying, you know, that same amount 348 00:18:33,619 --> 00:18:36,829 that's existing. That's about right, you know. Not everybody 349 00:18:36,889 --> 00:18:39,079 wants to wait though, right? You know, some people there's like, 350 00:18:39,259 --> 00:18:42,219 I got to go now, you know, and other times it's like, no, we 351 00:18:42,609 --> 00:18:43,839 got some time. We can figure it out. 352 00:18:44,440 --> 00:18:46,720 Well, and that's the thing is that one of the models, 353 00:18:46,810 --> 00:18:50,110 especially with the middle class and now the upcoming generation 354 00:18:50,200 --> 00:18:53,350 wondering how they're they're going to buy a house or live 355 00:18:53,440 --> 00:18:57,190 near their family. One of the solutions that I've been kind of 356 00:18:57,220 --> 00:19:00,480 toying around with was like what you're talking about, building a 357 00:19:00,540 --> 00:19:00,870 barn, 358 00:19:01,229 --> 00:19:01,319 yep, 359 00:19:02,999 --> 00:19:06,509 and like it's almost like the single guy, or dare I say, the 360 00:19:06,509 --> 00:19:09,179 divorced dad, new solution instead of renting the 361 00:19:09,299 --> 00:19:12,059 apartment, find a couple acres cheap, 362 00:19:12,449 --> 00:19:12,539 yep, 363 00:19:13,109 --> 00:19:16,199 put a barn on it, and put a fifth wheel inside of it. Yeah, 364 00:19:16,199 --> 00:19:17,879 you know I mean that's those things are nice, 365 00:19:18,149 --> 00:19:18,689 yeah, yeah, 366 00:19:18,930 --> 00:19:19,560 it's protected. 367 00:19:19,950 --> 00:19:24,170 Oh, some of these builds, especially on the you know, and 368 00:19:24,200 --> 00:19:27,770 I think the misconception is everyone they they think that 369 00:19:27,830 --> 00:19:30,110 like oh you know like I don't want to live in a barn is like 370 00:19:30,200 --> 00:19:33,530 well you know the outside and some of them these are really 371 00:19:33,680 --> 00:19:36,830 sharp yeah exactly you know there's a a lot of amazing 372 00:19:36,920 --> 00:19:39,200 builders throughout Middle Tennessee that everybody's 373 00:19:39,290 --> 00:19:43,120 familiar with and you know, and you know, while they might be 374 00:19:43,300 --> 00:19:47,050 considered more medium to large builders, is that even the small 375 00:19:47,110 --> 00:19:51,790 to medium builders, those guys they put amazing work out. And a 376 00:19:51,790 --> 00:19:52,660 2500 377 00:19:52,690 --> 00:19:54,700 square foot barn, it's 50 grand. 378 00:19:54,880 --> 00:19:56,560 Yeah, it's 379 00:19:56,619 --> 00:20:00,089 not with with a pad. You know, all you do is run electric. You 380 00:20:00,119 --> 00:20:02,549 know, water and and sewer to it. Yeah, 381 00:20:03,059 --> 00:20:07,379 and a lot of them are sometimes better insulated than what you 382 00:20:07,409 --> 00:20:10,289 can get out of like the cookie cutter homes. You know, if you 383 00:20:10,319 --> 00:20:12,719 got a custom builder, you got a custom builder. You know, and 384 00:20:13,109 --> 00:20:15,869 some of them they they just put the label in a custom builder. 385 00:20:15,959 --> 00:20:18,749 And I'm not knocking you know anybody. It's just the fact that 386 00:20:18,869 --> 00:20:21,799 across the nation, this isn't you know taking Middle Tennessee 387 00:20:21,949 --> 00:20:25,099 out of the equation just across the nation, there are you know 388 00:20:25,309 --> 00:20:28,399 some builders that yeah man they're they're not wanting to 389 00:20:28,459 --> 00:20:31,939 be the large you know builder they're very happy where they're 390 00:20:32,089 --> 00:20:34,009 at and they're doing very well. But that's 391 00:20:34,100 --> 00:20:36,950 the thing is that you know we bought a property a couple years 392 00:20:37,040 --> 00:20:41,480 back, just shy of five. It was 10 acres. Still have we're 393 00:20:41,540 --> 00:20:45,130 trying we're trying to sell it. About 10 and a half acres has a 394 00:20:45,220 --> 00:20:49,180 creek running through it. That's a big piece of property. You 395 00:20:49,210 --> 00:20:52,750 know, you don't need to go that big. But I would imagine that 396 00:20:52,810 --> 00:20:56,500 one or two acres around here was that going for about 200, 250, 397 00:20:56,530 --> 00:20:56,950 something like that. 398 00:20:58,150 --> 00:20:59,260 Yeah, but I 399 00:20:59,290 --> 00:21:03,780 mean, $50,000. Maybe once all said and done, electric and 400 00:21:03,780 --> 00:21:05,880 everything. Electric, you're not looking. You can literally have 401 00:21:05,940 --> 00:21:09,720 a a service panel put in, and you need to plug in a fifth 402 00:21:09,840 --> 00:21:09,990 wheel, 403 00:21:10,320 --> 00:21:10,470 right? 404 00:21:10,800 --> 00:21:14,790 And then water, all those things. You just need a spigot 405 00:21:14,820 --> 00:21:18,240 to plug it in, right? All those things can be built off of later 406 00:21:18,300 --> 00:21:21,170 down the road, you know. But at least you have a decent place to 407 00:21:21,200 --> 00:21:25,190 live. Fifth wheel goes for maybe I don't know 80 grand, 408 00:21:25,700 --> 00:21:27,740 right? A decent one for a nice one, yeah, yeah, 409 00:21:28,100 --> 00:21:30,650 yeah, dude. You're only but you're probably about 350 at 410 00:21:30,680 -->

00:21:31,010 that point. 411 00:21:31,280 --> 00:21:34,580 Oh yeah, right. Yeah, and it's funny that you say that because 412 00:21:35,480 --> 00:21:38,180 we've had a lot of customers over the years that they've 413 00:21:38,180 --> 00:21:41,800 they've done just that. They've which is ironic because there 414 00:21:41,830 --> 00:21:45,250 are some people that are, you know, and from outside looking 415 00:21:45,340 --> 00:21:47,050 in, they're like, "Oh, this person's out of their element. I 416 00:21:47,050 --> 00:21:50,770 was like, "You know, I was like, you don't give people, you know, 417 00:21:51,250 --> 00:21:54,760 overall enough credit because sometimes when you're when 418 00:21:54,790 --> 00:21:57,760 you're put into a situation, you're either gonna sink or 419 00:21:57,790 --> 00:22:00,870 swim, right? So some of these folks that you know come from 420 00:22:01,920 --> 00:22:05,400 states all around the nation that they come. They come from 421 00:22:05,550 --> 00:22:08,340 the suburbs, or they even come from the city, and now they're 422 00:22:08,430 --> 00:22:11,760 living in a fifth wheel while their house is being built, or 423 00:22:11,880 --> 00:22:14,940 you know, they're they're even living in a small ADU that has 424 00:22:15,090 --> 00:22:17,490 power, electric, water going to it. You know what I'm saying? 425 00:22:18,000 --> 00:22:21,260 And um, and they're perfectly fine. You know they they adapt 426 00:22:21,320 --> 00:22:24,260 very quickly, and which I think is awesome. You know, 427 00:22:24,740 --> 00:22:27,200 what can they do? I guess can you put a mortgage up against 428 00:22:27,230 --> 00:22:29,900 something like that? I mean, it's a depreciating asset 429 00:22:30,020 --> 00:22:33,260 on the ADU or the fifth wheel. Fifth wheel. No, so you know the 430 00:22:33,260 --> 00:22:36,470 fifth wheel is going to be like your personal right. But the 431 00:22:36,590 --> 00:22:38,210 whole thing is, it's like you know, if you do, 432 00:22:38,630 --> 00:22:41,380 you can finance them over 15 years anyway. Yeah, exactly. You 433 00:22:41,380 --> 00:22:43,720 know, so you basically take out a loan with the dealership, 434 00:22:43,900 --> 00:22:46,690 yeah, and then you know the barn, the barn, you could do put 435 00:22:46,690 --> 00:22:48,970 in a mortgage, right, with the land, and then there you go. 436 00:22:49,270 --> 00:22:53,350 Yeah, exactly. So, and one thing that you know, and it's not just 437 00:22:53,530 --> 00:22:55,990 if you're working with if you're working with anybody, you know, 438 00:22:56,350 --> 00:22:59,800 little pro tip: if you have the opportunity to buy the land 439 00:22:59,860 --> 00:23:04,740 before you actually go to try to do it all at once, find where 440 00:23:04,770 --> 00:23:08,280 you want to live first, buy the land, and then and then over 441 00:23:08,730 --> 00:23:12,240 whether it's months or years, then you know little by little, 442 00:23:12,510

--> 00:23:15,930 and especially if you already own a home and you've you've got 443 00:23:15,930 --> 00:23:18,600 a place, but you want to you want to maybe relocate to 444 00:23:19,200 --> 00:23:22,190 Lawrenceburg, Lewisburg, Coleoka, wherever it is that you 445 00:23:22,220 --> 00:23:26,750 want to push out further past the suburban sprawl, then buy 446 00:23:26,870 --> 00:23:31,130 the land because the land can actually, you know, not just us, 447 00:23:31,250 --> 00:23:33,560 but there's a lot of great lenders out there that allow you 448 00:23:33,620 --> 00:23:35,810 to use the equity in that land as your down payment toward the 449 00:23:36,290 --> 00:23:38,960 toward the construction loan, the one-time close, the two-time 450 00:23:39,050 --> 00:23:42,970 close. So you know, do yourself a favor instead of going. Well, 451 00:23:43,030 --> 00:23:45,850 we're not ready to bill yet, but I love that piece of land. Buy 452 00:23:45,940 --> 00:23:46,570 that piece of land. 453 00:23:46,810 --> 00:23:47,560 You doing commercial too? 454 00:23:48,220 --> 00:23:51,850 Yeah. We once again, you know, like some of the stuff that, 455 00:23:52,090 --> 00:23:55,690 like, hey, I could do this commercial loan for you, but I 456 00:23:55,750 --> 00:23:58,030 know somebody who's going to give you knock your socks off, 457 00:23:58,180 --> 00:24:01,530 and here's how they're here is how they help you, and I know 458 00:24:01,620 --> 00:24:04,680 this from experience because I, I send a lot of my clients, 459 00:24:04,740 --> 00:24:07,500 especially on the commercial side, to them, and and that's 460 00:24:07,500 --> 00:24:11,070 it, man. You know, like the without you know me trying to 461 00:24:12,360 --> 00:24:15,540 remember everything about what my referral partner does really 462 00:24:15,630 --> 00:24:18,690 well, I give them the bullet points and I go, hey, and it's 463 00:24:18,750 --> 00:24:21,170 no skin off my back if all of a sudden, you decide to go in a 464 00:24:21,230 --> 00:24:23,630 different route. But I know that he's always taking care of my 465 00:24:23,720 --> 00:24:24,500 people. Do 466 00:24:24,560 --> 00:24:27,710 you think the general public is distrusting of people in real 467 00:24:27,710 --> 00:24:28,310 estate business? 468 00:24:28,789 --> 00:24:33,679 You know, I think that you know with the with the introduction 469 00:24:33,769 --> 00:24:37,459 of like chat and everything else, people they're they're 470 00:24:37,639 --> 00:24:41,559 finding a lot more answers if they're asking in the right way, 471 00:24:42,669 --> 00:24:45,759 so really at the end of the day, if it's a trust thing, that's on 472 00:24:46,299 --> 00:24:48,789 that's really on them because there are some people out there 473 00:24:49,059 --> 00:24:52,929 that honestly they, I mean, heck, I still count my money 474 00:24:52,959 --> 00:24:55,329 when I get it out the ATM, but at the end of the day, like 475 00:24:55,389 --> 00:24:57,849 there are people who are always just going to have that in them, 476 00:24:58,539 --> 00:25:01,559 and you know, and I'm. Knocking those people, they probably have 477 00:25:01,649 --> 00:25:05,189 good reason to to be on guard. You know, you get burned a 478 00:25:05,219 --> 00:25:07,949 couple times, and it teaches you. This 479 00:25:08,010 --> 00:25:10,980 whole construction process we've been through, yeah, because we 480 00:25:11,070 --> 00:25:13,890 were going to move our business into that property, and we 481 00:25:14,040 --> 00:25:16,230 wanted to build a commercial building at first, but it was a 482 00:25:16,230 --> 00:25:18,810 little too rich for our blood. Right, and then we decided to 483 00:25:18,870 --> 00:25:21,020 build a house, and we could move into the house and do what we do 484 00:25:21,230 --> 00:25:24,230 here, yeah. But own the property, but it's probably 485 00:25:24,290 --> 00:25:27,470 better for us to just flip it and keep on moving forward that 486 00:25:27,560 --> 00:25:29,630 way. So it's one of those things that it's kind of like, all 487 00:25:29,660 --> 00:25:34,250 right, you know, that's interesting, but the the 488 00:25:34,430 --> 00:25:38,570 experience was eye opening. Like a lot of the stuff that we did, 489 00:25:38,750 --> 00:25:41,170 we wouldn't do again, right? You know, especially I mean, the 490 00:25:41,290 --> 00:25:44,710 banker's just been-he's only communicative when you know you 491 00:25:44,710 --> 00:25:47,740 got to pay him. You know, hey, you're you're need to make your 492 00:25:47,770 --> 00:25:48,400 payment. Yeah, 493 00:25:48,639 --> 00:25:49,509 and you know you 494 00:25:49,540 --> 00:25:54,040 try and solve problems, and well, I'm-you know-we have a 495 00:25:54,340 --> 00:25:58,630 this week. We're out, okay. What for? What you know? Right, 496 00:25:58,900 --> 00:26:00,190 ground groundhog foot day. 497 00:26:00,520 --> 00:26:00,630 Yeah, 498 00:26:01,169 --> 00:26:02,399 and then you take the entire week off, 499 00:26:02,730 --> 00:26:03,570 right? I mean, that's 500 00:26:03,780 --> 00:26:07,050 literally some of the, well, not that particular instance, but 501 00:26:07,080 --> 00:26:09,990 it's been one of those things where it's like, dude, this is, 502 00:26:10,080 --> 00:26:12,450 I would never hire you again. This is awful, 503 00:26:12,960 --> 00:26:17,550 Jim. Honestly, the and and this is to the ones who have been in 504 00:26:17,610 --> 00:26:21,650 this game for a long time, or have you know they really have 505 00:26:21,830 --> 00:26:25,610 built their business in in the housing industry? But here's the 506 00:26:25,610 --> 00:26:28,550 thing: it's not just the housing industry. This should equate to 507 00:26:28,730 --> 00:26:32,720 any industry. Communication is key, and that's it, man. Like 508 00:26:32,930 --> 00:26:35,750 even if you got nothing to say, hey, I was just calling to let 509 00:26:35,810 -->

00:26:38,840 you know that everything's all good to go. Like, is everything 510 00:26:38,870 --> 00:26:40,990 all right? It's like, yeah, actually, nothing's really 511 00:26:41,170 --> 00:26:43,150 changed, but I just wanted to check in with you. How is 512 00:26:43,210 --> 00:26:45,760 everything? Are you all right? And and sometimes you'll find 513 00:26:45,820 --> 00:26:48,040 out something that actually helps you do your job better. 514 00:26:48,250 --> 00:26:50,740 Like yeah, because you know what, we really got to kind of 515 00:26:50,830 --> 00:26:54,370 get this build done, or really need this to close quickly 516 00:26:54,490 --> 00:26:57,490 because I got my mother in law coming. You know, she's coming 517 00:26:57,520 --> 00:27:00,010 quickly. You know, she's coming to live with us. I was like, 518 00:27:00,100 --> 00:27:02,880 okay, good to know. So they're already under stress, right? 519 00:27:03,000 --> 00:27:05,730 Dealing with that that you didn't know about, and just 520 00:27:05,730 --> 00:27:08,430 those little things, man. If you'll listen more than you're 521 00:27:08,520 --> 00:27:10,980 talking, you'll pick up on a lot more stuff, 522 00:27:11,099 --> 00:27:15,569 especially on the front end. Yeah, because apparently there's 523 00:27:15,569 --> 00:27:18,299 this program that they use called Built. Yep, you're aware 524 00:27:18,359 --> 00:27:23,059 of it. Yep, it's a freaking nightmare. Yeah. Okay. The we 525 00:27:23,059 --> 00:27:26,809 went into it saying, okay, if we provide the upfront cost for 526 00:27:26,839 --> 00:27:29,959 materials, we buy flooring, we buy electrical, all the 527 00:27:30,289 --> 00:27:33,379 different things. We just submit a receipt and we get reimbursed. 528 00:27:33,559 --> 00:27:37,819 Oh yeah. Nope. Yeah. Well, you know, the inspector would come 529 00:27:37,879 --> 00:27:40,099 by. Well, it's not installed yet. Well, that's not what was 530 00:27:40,159 --> 00:27:42,309 told to us. Right. Here's the receipt. We bought it. The 531 00:27:42,429 --> 00:27:45,279 product's right there. Right. I understand why you're doing 532 00:27:45,339 --> 00:27:49,539 this. That people in the past have made it harder for people 533 00:27:49,569 --> 00:27:52,449 like us because they get a construction loan and all of a 534 00:27:52,509 --> 00:27:55,569 sudden they're buying brand new trucks. Right. I get it, but 535 00:27:55,779 --> 00:28:00,099 dude, yeah, our guy said that once we show you a receipt, we 536 00:28:00,189 --> 00:28:02,669 should be get no. Well, it's got to be installed first. Okay, so 537 00:28:02,729 --> 00:28:04,049 we got to come out of pocket even more. 538 00:28:04,409 --> 00:28:04,469 Yeah. 539 00:28:04,949 --> 00:28:05,729 What do we need you for? 540 00:28:06,090 --> 00:28:06,240 Right. 541 00:28:07,199 --> 00:28:09,389 What do we do? What are we doing here? Yeah. It's literally it 542 00:28:09,389 --> 00:28:10,559 was that aggravating. 543 00:28:10,770 --> 00:28:11,790 Yeah. And it's 544 00:28:11,790 --> 00:28:13,710 almost like to the point where they strategically do it, so 545 00:28:13,710 --> 00:28:15,900 they have their boot on your neck. Right. That's what I feel 546 00:28:15,930 --> 00:28:16,170 like. Yeah. 547 00:28:16,770 --> 00:28:20,570 You're beholden to them. You know. Yeah. And that's the whole 548 00:28:20,660 --> 00:28:24,770 thing. It's like you know, I'm and don't get me wrong. I'm not 549 00:28:25,040 --> 00:28:29,000 Terminator Two esque about AI and technology and what have 550 00:28:29,090 --> 00:28:32,630 you. But like, here's the thing: use it as a tool, but don't let 551 00:28:32,690 --> 00:28:36,080 that be the own the only voice for your company or your team or 552 00:28:36,110 --> 00:28:38,870 your group to, especially to your client. Oh, you should have 553 00:28:38,870 --> 00:28:41,200 got an automated email. I was like, you know what? I was like, 554 00:28:41,860 --> 00:28:44,710 hey, just so you know, you're about to get some automated 555 00:28:44,890 --> 00:28:47,650 emails. I go, but that doesn't mean that that's our only source 556 00:28:47,680 --> 00:28:51,340 of communication. Please, by all means, you call or text me if 557 00:28:51,400 --> 00:28:54,040 you have any questions, and that's it. And every time that I 558 00:28:54,160 --> 00:28:57,010 end the call with that, they're very appreciative. But that's 559 00:28:57,010 --> 00:29:00,780 the whole thing, you know. Good news, great. Bad news needs to 560 00:29:00,780 --> 00:29:04,020 travel quicker. It was like, hey, we we hit a little bit of a 561 00:29:04,050 --> 00:29:07,500 wrinkle. Here's what happened: the appraisal came in low, or 562 00:29:07,620 --> 00:29:11,310 hey, heard that you know there's a couple subject two items on 563 00:29:11,370 --> 00:29:15,270 your appraisal, or whatever it might be. You need to you know 564 00:29:15,660 --> 00:29:19,380 figure out first figure out a plan on what is possible on our 565 00:29:19,530 --> 00:29:22,610 end, you know, and then you need to communicate that, hey, this 566 00:29:22,670 --> 00:29:26,150 came up, but we're already doing these things to to try to get 567 00:29:26,240 --> 00:29:30,560 over it. Okay, and and that's it. I think that too many people 568 00:29:30,650 --> 00:29:34,100 they they turtle up right and they just go, oh man, they're 569 00:29:34,100 --> 00:29:36,290 gonna be so pissed. I was like, how pissed do you think they're 570 00:29:36,440 --> 00:29:40,870 gonna be if you sit on this for three days, three weeks? I've 571 00:29:40,930 --> 00:29:43,570 heard some horror stories, and I was like, "Can't get the guy 572 00:29:43,690 --> 00:29:45,850 back on the line. Yeah, you know, we're we're supposed to 573 00:29:45,910 --> 00:29:48,010 close in a week, and I haven't heard anything. I was like, 574 00:29:49,420 --> 00:29:52,810 "What? You know, yeah, it's sad. It's 575 00:29:52,870 -->

00:29:54,880 time. Yeah, so they're getting you know, 576 00:29:55,719 --> 00:29:55,779 yeah, 577 00:29:56,409 --> 00:29:57,369 they're living their best life. 578 00:29:57,610 --> 00:30:01,740 Yeah, yeah, yeah. And back to the. You know, I agree with you 579 00:30:01,830 --> 00:30:03,750 on the on the fact that like people are like, oh well, you 580 00:30:03,780 --> 00:30:08,100 know, it's you know it's calf's packed day, so we're taking a 581 00:30:08,130 --> 00:30:11,640 half day. I was like, well, you know what? I don't know about 582 00:30:11,790 --> 00:30:14,640 most other salespeople, no matter what you sell, but you're 583 00:30:14,670 --> 00:30:18,810 never really off, and and that's it. You know, I was like, if all 584 00:30:18,810 --> 00:30:21,200 of a sudden you're in line and somebody has a question about 585 00:30:21,350 --> 00:30:24,710 what your craft is. I was like, take the moment. You know, you 586 00:30:24,770 --> 00:30:25,640 might have just made a sale. 587 00:30:26,240 --> 00:30:27,050 How long you been doing this? 588 00:30:27,589 --> 00:30:28,969 Oh man, almost a decade. 589 00:30:29,209 --> 00:30:32,389 Almost a decade. Yeah. So starting out in a decade, when 590 00:30:32,479 --> 00:30:36,589 somebody begins, what's a realistic expectation? How many 591 00:30:36,679 --> 00:30:37,579 deals in the first year? 592 00:30:38,179 --> 00:30:43,809 Oh, you know, it's it's really it's really on you, man. And oh, 593 00:30:43,899 --> 00:30:44,799 sure it is. Yeah, it's 594 00:30:44,859 --> 00:30:45,159 typical. 595 00:30:45,519 --> 00:30:49,809 Yeah, you know, like I'd say if you can, it's starting out. If 596 00:30:49,899 --> 00:30:54,279 you can at least get a couple under your belt a month, you're 597 00:30:54,519 --> 00:30:58,509 you're doing okay. But you know, if you can get a handful a 598 00:30:58,719 --> 00:31:01,259 month, I think you would be all right. You know, saying like, 599 00:31:01,589 --> 00:31:04,829 and you just got to keep that. And the biggest thing is, and I 600 00:31:05,099 --> 00:31:07,739 had a hard time with this in the beginning. I'm just being 601 00:31:07,859 --> 00:31:11,759 honest. Track, track everything. Track how many calls you made. 602 00:31:11,819 --> 00:31:13,709 Track how many people you reached out to, who you got a 603 00:31:13,739 --> 00:31:17,009 hold of, and then the people who even showed a little bit of 604 00:31:17,039 --> 00:31:19,229 interest, you need to circle back with them. And even the 605 00:31:19,319 --> 00:31:21,979 ones that, hey, you know what? We're we're not in a position to 606 00:31:22,039 --> 00:31:25,939 buy. Then you just put them into a drip campaign, and because you 607 00:31:25,969 --> 00:31:28,639 never know, you know, like if you'll take care of them, like 608 00:31:28,639 --> 00:31:33,439 the ones who are the the the big deals to you, and you treat 609 00:31:33,499 --> 00:31:37,249 everybody the same, like they're everybody's a big deal, then all 610 00:31:37,339 --> 00:31:40,969 they'll feel that, and all of a sudden the guy who's got the 550 611 00:31:41,059 --> 00:31:45,849 credit score. His brother in law has an 800, and he's moving here 612 00:31:46,089 --> 00:31:49,539 from Texas, and he needs to buy land and a home. You know, 613 00:31:50,229 --> 00:31:55,179 what is the what's what's like a typical amount of deals per 614 00:31:55,269 --> 00:31:56,199 month? Like, what are you doing? 615 00:31:57,369 --> 00:32:04,139 Well, ours is a our team. We do, and I guess it's a little bit 616 00:32:04,259 --> 00:32:08,249 easier to go. I guess off of off $1 amount. You know what I'm 617 00:32:08,249 --> 00:32:12,959 saying? Like I think last month we closed around 8 million, and 618 00:32:13,619 --> 00:32:17,129 but because of the loan amounts, you know, it fluctuates, right? 619 00:32:17,339 --> 00:32:20,929 You could do I could do a 400,000, you know, smaller 620 00:32:21,019 --> 00:32:25,579 modular build, and then same type of modular build, but it's 621 00:32:25,729 --> 00:32:30,319 sitting on 40 acres, and now that deal is now double almost. 622 00:32:30,349 --> 00:32:34,699 You know, maybe it's like 900,000, and then on the 623 00:32:34,759 --> 00:32:37,399 barnaminiums, it's the same thing. You know, like when you 624 00:32:37,429 --> 00:32:40,779 start factoring the house, sure, that that's easy to go like 625 00:32:40,839 --> 00:32:45,069 we're gonna build for this much, but the land you incorporate 626 00:32:45,129 --> 00:32:48,369 that in as well. That's an extra wrinkle. But back in the day, 627 00:32:48,579 --> 00:32:52,149 you know, like I would say, you know, I was shooting for a 628 00:32:52,209 --> 00:32:55,329 handful of deals, you know, like and if you could at least make 629 00:32:55,359 --> 00:32:58,059 that your baseline, and hey, we're gonna close a handful of 630 00:32:58,089 --> 00:33:02,879 deals every single month, then you'll do well, and you need to 631 00:33:02,999 --> 00:33:05,579 just keep doubling, doubling, doubling. You know, 632 00:33:05,969 --> 00:33:10,229 you mentioned making calls and stuff like that. I mean, are you 633 00:33:10,259 --> 00:33:12,719 depending on real estate agents to bring your business? Because 634 00:33:12,719 --> 00:33:15,569 it's what a lot of mortgage people do. But going in the 635 00:33:15,689 --> 00:33:20,639 direct route to the end user is kind of unconventional. So, do 636 00:33:20,669 --> 00:33:24,289 you make cold calls, and if you do, what does that sound like? 637 00:33:24,589 --> 00:33:25,759 What kind of a cold call is that? 638 00:33:26,149 --> 00:33:32,389 So, and this is probably going to be unpopper opinion, but I'm 639 00:33:32,419 --> 00:33:36,319 I I'm not a cold caller. And you know, here's the thing: I've got 640 00:33:37,009 --> 00:33:40,249 any one of you. If you literally, if you'll scroll to 641 00:33:40,279 --> 00:33:44,169 the very bottom

of your, at least on iPhone users, sorry 642 00:33:44,229 --> 00:33:46,929 Android, but you know if you scroll to the bottom of your 643 00:33:46,989 --> 00:33:49,629 contact list, it'll tell you how many contacts are in your phone, 644 00:33:50,199 --> 00:33:54,039 and most of us are sitting at least a couple 100 people that 645 00:33:54,069 --> 00:33:57,099 are in your phone, and here's the thing: you don't need to 646 00:33:57,189 --> 00:33:59,589 call them up and go, "Hey, you're looking to buy a house 647 00:33:59,649 --> 00:34:02,159 anytime soon? Looking to refinance, looking for some 648 00:34:02,249 --> 00:34:05,069 land. If you'll just sit there and remind them what you do, 649 00:34:06,239 --> 00:34:09,869 it's everything. You know, every time I think about podcasts, my 650 00:34:09,929 --> 00:34:12,779 friend Jim McCarthy. Oh, voiceover work, my friend Jim 651 00:34:12,809 --> 00:34:16,859 McCarthy. Oh, you want to make a podcast, Jim McCarthy? It's that 652 00:34:17,129 --> 00:34:20,299 top of mind that every time I hear your voice or I hear a 653 00:34:20,359 --> 00:34:23,689 voice that's even remotely near your voice. I'm like, Jim, you 654 00:34:23,719 --> 00:34:26,929 know, like, and that's it. You know, I I had the pleasure and 655 00:34:26,959 --> 00:34:31,129 opportunity to, you know, it would never fill the shoes at at 656 00:34:31,189 --> 00:34:35,359 your BNI group, but the fact that I was there on your behalf, 657 00:34:35,629 --> 00:34:37,879 it was like I was a celebrity. It was the fact that I'm like, 658 00:34:37,969 --> 00:34:40,189 oh, you're you're here for Jim? Awesome. All right, cool. I was 659 00:34:40,219 --> 00:34:42,639 like, yeah. I was like, it's good. I'm the Hispanic version. 660 00:34:42,669 --> 00:34:47,619 It's good, but it's good. You know, ultimately, and the whole 661 00:34:47,739 --> 00:34:51,399 thing is is that back to the cold calling. I don't knock it. 662 00:34:51,459 --> 00:34:55,329 It's just I'm not, and I don't even get upset when people cold 663 00:34:55,449 --> 00:34:58,509 call me, which is funny. You think I'd be like lose my 664 00:34:58,629 --> 00:35:00,989 number, and I'm just kind of like. Hey man, I get it. You're 665 00:35:00,989 --> 00:35:03,959 just trying to make a sale. I was like, I'm, I'm really, I'm 666 00:35:04,019 --> 00:35:07,019 not quite to the AARP age, but thank you for calling early. 667 00:35:07,679 --> 00:35:08,549 Yeah, that 668 00:35:08,730 --> 00:35:10,710 that seems to be getting earlier and earlier. Yeah, 669 00:35:10,949 --> 00:35:12,839 yeah, yeah. So that's it, man. Don't worry 670 00:35:12,870 --> 00:35:13,530 about that. Yeah, 671 00:35:13,800 --> 00:35:17,700 but yeah, just if you'll just let people know what you do and 672 00:35:18,030 --> 00:35:20,660 what you do really well, it it all kind of takes care of 673 00:35:20,720 --> 00:35:21,020 itself. 674 00:35:21,230 --> 00:35:24,320 Well, I'm not. I'm not really in a commoditized industry. This is 675 00:35:24,440 --> 00:35:27,860 this is a specialized industry. So it's almost like if you work 676 00:35:27,890 --> 00:35:30,710 in the music business, someone asks you, "Hey, what do you do? 677 00:35:30,860 --> 00:35:33,020 And you go, "Oh, I'm in the music business. That alone, 678 00:35:33,650 --> 00:35:36,110 instinct, like it, it leads to another. Oh, really? What do you 679 00:35:36,140 --> 00:35:39,800 do? You know. So those people who are in the music business 680 00:35:39,890 --> 00:35:43,390 have that luxury. When you're in a commoditized industry like 681 00:35:43,660 --> 00:35:46,060 what we talked about earlier, you got to come out of the gate 682 00:35:46,180 --> 00:35:49,990 like you know I help people fund their you know dream homes or 683 00:35:50,020 --> 00:35:50,290 whatever, 684 00:35:50,470 --> 00:35:50,650 right? 685 00:35:51,640 --> 00:35:54,880 And I believe that everybody should have a reasonable way to 686 00:35:56,320 --> 00:35:59,770 reasonably pay for the domicile where they live or whatever you 687 00:35:59,890 --> 00:36:04,230 say. Yeah, it's it's tough to say. Well, I do it with 688 00:36:04,290 --> 00:36:07,680 integrity, or I do it honestly. It's like you, I've been on this 689 00:36:07,950 --> 00:36:11,850 really big kick lately with people who call themselves 690 00:36:12,000 --> 00:36:15,120 leaders. Like, well, I'm a leader. Well, I don't think you 691 00:36:15,210 --> 00:36:19,350 can really say that about yourself. You know, other 692 00:36:19,410 --> 00:36:22,850 people. We're the number one whatever band in the country, 693 00:36:24,740 --> 00:36:27,920 according to who? I mean, you know, goes back to my radio day. 694 00:36:28,040 --> 00:36:30,950 We're the number one radio station, yeah. According to 695 00:36:31,070 --> 00:36:36,920 women 3554 in this particular time slot, but okay, you know, 696 00:36:36,980 --> 00:36:41,140 it's all these these claims where you got to be able to to 697 00:36:41,140 --> 00:36:45,400 to validate the the magnitude of the claim, right? And it's like 698 00:36:46,810 --> 00:36:49,390 I'm going on a tangent here. This is what we do. No, I filled 699 00:36:49,420 --> 00:36:53,050 this though. Please, you know, listen. My daughter this morning 700 00:36:53,109 --> 00:36:56,229 was asking me at school, or she was telling me at school that 701 00:36:56,259 --> 00:36:59,949 they were going through who's a good and bad leader throughout 702 00:37:00,009 --> 00:37:03,329 history and stuff like that, and I said, "Did they define what 703 00:37:03,419 --> 00:37:06,449 that means? She goes, "Yeah, we had to define what we thought it 704 00:37:06,479 --> 00:37:09,539 meant. And I said, "Do you want to know what I mean? I think. 705 00:37:11,009 --> 00:37:14,219 She goes, "Yeah, of course. I said, "Listen, a good leader or 706 00:37:14,249 --> 00:37:17,759 a bad leader is someone who says go, and they're sitting there

707 00:37:17,789 --> 00:37:20,539 like they're cracking the whip, so to speak. A good leader is 708 00:37:20,599 --> 00:37:24,619 someone who's saying let's go, and they're with you. Okay, a 709 00:37:24,739 --> 00:37:27,259 good leader is going to have people who will take a bullet 710 00:37:27,319 --> 00:37:30,859 for him. A bad leader is going to be one who gets killed in 711 00:37:30,919 --> 00:37:31,489 friendly fire. 712 00:37:31,940 --> 00:37:32,000 Yeah, 713 00:37:32,930 --> 00:37:35,630 you know. And I learned that in the car business. I learned in 714 00:37:35,630 --> 00:37:36,050 the radio. 715 00:37:36,319 --> 00:37:36,379 Yeah, 716 00:37:36,590 --> 00:37:39,350 I said you know I had a boss in radio the first go around. It 717 00:37:39,350 --> 00:37:42,370 was great. He was a mentor. The guy who followed him was kind of 718 00:37:42,400 --> 00:37:42,520 like, 719 00:37:43,450 --> 00:37:43,600 right. 720 00:37:44,139 --> 00:37:47,649 So I went to Vegas. Guy who hired me was a great leader, 721 00:37:47,829 --> 00:37:53,079 great, very inspiring. But still talk to him today. The guy that 722 00:37:53,109 --> 00:37:56,349 followed him basically said, you know, y'all are here to make me 723 00:37:56,499 --> 00:37:57,999 look good, and I'm like, the hell we are. 724 00:37:58,329 --> 00:37:58,479 Right. 725 00:37:58,869 --> 00:38:00,129 And I was gone within a year or so. 726 00:38:00,430 --> 00:38:00,520 Yep. 727 00:38:00,790 --> 00:38:04,140 And then I got hired here, and I've had really good leaders 728 00:38:04,230 --> 00:38:07,380 where I worked here, and didn't have that juxtaposition. Got 729 00:38:07,380 --> 00:38:10,440 into the car business, worked for Steve Brink over at Crest 730 00:38:10,470 --> 00:38:14,130 Honda, and he he was a great leader. But he was one of those 731 00:38:14,250 --> 00:38:17,940 guys that you know he would come in and start with the detail 732 00:38:18,060 --> 00:38:20,460 guys and the porters. Hey, how you guys? Shake their hands, 733 00:38:20,520 --> 00:38:23,000 look in their in their eyes, making sure they feel valued. 734 00:38:23,480 --> 00:38:25,340 And he worked through the service department and all 735 00:38:25,430 --> 00:38:28,340 through the sales floor and the F and I people and get to his 736 00:38:28,520 --> 00:38:31,310 office. And I mean, dude, the freaking place could be burning 737 00:38:31,430 --> 00:38:31,760 down. 738 00:38:31,940 --> 00:38:32,000 Yeah, 739 00:38:32,450 --> 00:38:34,220 and he would come out of the office with a big old smile on 740 00:38:34,250 --> 00:38:37,220 his face. He's just like, I have to shield you guys from the 741 00:38:37,340 --> 00:38:37,580 crap. 742 00:38:37,880 --> 00:38:38,330 That's it. 743 00:38:38,510 --> 00:38:39,500 Okay, that I have to deal with. 744 00:38:39,740 --> 00:38:39,860 Yep, 745 00:38:40,160 --> 00:38:42,670 and I don't get to take that out on you. He was a great leader. 746 00:38:42,910 --> 00:38:42,970 Yeah, 747 00:38:44,020 --> 00:38:47,110 and that wasn't something he proclaimed about himself. That 748 00:38:47,140 --> 00:38:49,630 was a mantle given to him by the people who followed him. 749 00:38:49,900 --> 00:38:50,290 That's right. 750 00:38:50,470 --> 00:38:55,060 Okay, it drives me nuts. Well, as leaders, you know, you see it 751 00:38:55,060 --> 00:38:57,880 on LinkedIn and all the time. Right. Okay. Who who who made 752 00:38:57,910 --> 00:38:58,300 you a leader? 753 00:38:58,540 --> 00:39:01,650 Right. You know, I'm a leader in my industry. I was like, "Are 754 00:39:01,770 --> 00:39:04,590 you? I was like, "You know what? Because you know, when you start 755 00:39:04,620 --> 00:39:07,200 talking about metrics and what have you, and once again, it's 756 00:39:07,230 --> 00:39:12,120 like it's it's up to each person's discretion. But I agree 757 00:39:12,210 --> 00:39:15,720 with you on the fact that it's like a true leader really is not 758 00:39:15,810 --> 00:39:18,120 proclaiming that of themselves. They're sitting there, they're 759 00:39:18,240 --> 00:39:21,650 leading by example, and they're saying, "Hey, you know, like I 760 00:39:22,070 --> 00:39:25,220 love the the fact that you know the detail guys and the porters. 761 00:39:25,310 --> 00:39:29,000 It's like, hey, you know, it's not just hey, I want to make 762 00:39:29,060 --> 00:39:30,740 sure that everyone knows I'm friendly with them. It's like, 763 00:39:30,800 --> 00:39:34,160 no, it's like you have value, you have value. The I'm 764 00:39:34,310 --> 00:39:34,880 acknowledging 765 00:39:34,970 --> 00:39:35,210 you. Yeah, 766 00:39:35,870 --> 00:39:39,590 hey, I I need the janitor to do their job because if our lobby 767 00:39:39,680 --> 00:39:42,430 looks like crap, nobody wants to sit here and wait while their 768 00:39:42,490 --> 00:39:44,860 car is getting repaired, you know. And it's those little 769 00:39:44,950 --> 00:39:49,060 details like that. And I'm horrible at quotes, but 770 00:39:49,330 --> 00:39:52,480 basically, I forget who even asked the dude. But basically, 771 00:39:53,740 --> 00:39:58,000 somebody asks a janitor at NASA and goes, "Hey, you know, like 772 00:39:59,680 --> 00:40:02,160 what?" What do you do here? He's like, "Oh, we're working to put 773 00:40:02,190 --> 00:40:04,710 a man on the moon, and I was like, "That's amazing, you know. 774 00:40:04,710 --> 00:40:07,080 I'm saying like, and clearly that was you know back in the 775 00:40:07,200 --> 00:40:09,420 day before they actually put the man that man on the moon. But 776 00:40:09,420 --> 00:40:12,330 the whole thing is, it's like, dude, that's what I'm talking 777 00:40:12,360 --> 00:40:16,200 about. It's like there are no small roles in in most 778 00:40:16,230 --> 00:40:20,660 companies, and this trickles down to it should really start 779 00:40:20,660 --> 00:40:24,560 with our family because you know I told my eight now nine year 780

00:40:24,770 --> 00:40:29,000 old and my 11 year old often I go hey I go check it out I was 781 00:40:29,060 --> 00:40:32,150 like you're not just our kids you're not just you know a young 782 00:40:32,450 --> 00:40:34,670 kid here at the house I was like you're part of this team I was 783 00:40:34,700 --> 00:40:38,810 like without you I can't we this household doesn't function I 784 00:40:38,870 --> 00:40:41,590 need you to take the dog out I need you to take the trash out. 785 00:40:41,680 --> 00:40:45,370 I need me to do all the things that your mom asked me to. But 786 00:40:45,370 --> 00:40:47,140 ultimately, at the end of the day, it's like we all have a 787 00:40:47,260 --> 00:40:50,710 role here, and you know nobody is more important than the other 788 00:40:50,770 --> 00:40:54,640 person, and that that means double for you guys because I 789 00:40:54,760 --> 00:40:57,580 need you guys to understand how important it is that you do 790 00:40:57,760 --> 00:41:00,640 what's asked of you, so that we can do what's asked of us. You 791 00:41:00,640 --> 00:41:00,700 know, 792 00:41:01,090 --> 00:41:03,510 you know it's funny. You ever been to a Bucky's? Yeah, yeah, 793 00:41:03,960 --> 00:41:08,940 yep. The signaling that they do is so interesting. I have this 794 00:41:08,970 --> 00:41:12,180 whole thing that I talk about called signaling. At any given 795 00:41:12,240 --> 00:41:15,750 time, we're signaling to other people. Yeah, you know, verbally 796 00:41:15,810 --> 00:41:20,540 or non-verbally. Yep. And it's a marketing thing as well. It goes 797 00:41:20,630 --> 00:41:26,180 back to the when when ID theft was really at an all time high. 798 00:41:26,900 --> 00:41:29,570 There was a company whose name I can't remember, which disproves 799 00:41:29,630 --> 00:41:34,850 my point. But either way, they had a an ad and a campaign that 800 00:41:34,910 --> 00:41:38,210 the owner of the company put his own social security number like 801 00:41:38,330 --> 00:41:41,680 in the ads on the sides of billboards, on the sides of box 802 00:41:41,770 --> 00:41:45,310 trucks driving around cities. That was how much he believed in 803 00:41:45,400 --> 00:41:49,990 his product and service. That go ahead and do what you need to 804 00:41:49,990 --> 00:41:54,880 do. And I I think two people might have tried to steal his 805 00:41:55,000 --> 00:41:56,710 identity and they were successful, but that was 806 00:41:56,980 --> 00:41:57,130 it. Yeah. 807 00:41:57,610 --> 00:42:01,140 So it's like, but him going out on that limb signaled this is 808 00:42:01,170 --> 00:42:02,400 how much confidence I have in this. 809 00:42:02,730 --> 00:42:02,880 Right. 810 00:42:03,030 --> 00:42:05,700 Yeah. Even I got a couple of black eyes because of it, but 811 00:42:05,730 --> 00:42:08,460 was quickly fixed and rectified. That's what you're buying 812 00:42:09,060 --> 00:42:09,180 into. 813 00:42:09,960 --> 00:42:14,520 So that's signaling. So you

go to Bucky's. What do they have on 814 00:42:14,670 --> 00:42:17,910 the sidewalk? Little sign. You know that sign I'm talking 815 00:42:17,940 --> 00:42:21,320 about? Hey, this is what our positions pay. 816 00:42:21,739 --> 00:42:22,069 Oh yeah, yeah, 817 00:42:22,279 --> 00:42:23,119 yeah, dude. 818 00:42:23,420 --> 00:42:23,480 Yeah, 819 00:42:24,410 --> 00:42:26,900 yeah. You go in there, you have a good experience. Oh yeah, 820 00:42:27,140 --> 00:42:29,540 because they're hiring the cream of the crop. 821 00:42:29,660 --> 00:42:30,500 That's it. 822 00:42:30,769 --> 00:42:31,759 It's unbelievable. 823 00:42:31,940 --> 00:42:32,000 Yeah, 824 00:42:32,660 --> 00:42:34,700 people coming out of the woodwork to you know the new 825 00:42:34,790 --> 00:42:37,040 Murfreesboro location. Yeah, they're going to be covered up. 826 00:42:37,220 --> 00:42:38,090 Oh yeah, without an out. 827 00:42:38,240 --> 00:42:39,890 In and out, same thing. Yeah, yeah. 828 00:42:40,519 --> 00:42:44,229 You know, if if you'll take care of your people, and honestly, 829 00:42:44,619 --> 00:42:47,319 the the team that that I'm with now, you know, Bell Bank 830 00:42:47,499 --> 00:42:51,729 Mortgage, we the motto is happy employees, happy customers, and 831 00:42:51,999 --> 00:42:54,789 you're absolutely right because you know I haven't talked to a 832 00:42:54,849 --> 00:42:57,759 single person that's kind of like, eh, it's all right. You 833 00:42:57,789 --> 00:43:00,389 know, they're like, no, like this place, you know, and some 834 00:43:00,389 --> 00:43:02,939 of these guys are like myself. They've been in the industry for 835 00:43:03,659 --> 00:43:06,449 years, and you know we've bounced around, and it happens. 836 00:43:06,569 --> 00:43:08,549 But ultimately, at the end of the day, they're like, no, like. 837 00:43:08,999 --> 00:43:10,859 So I was like, all right. So how many years have you been here 838 00:43:10,979 --> 00:43:13,739 now? And some of them, they're like, five years, seven years, 839 00:43:13,889 --> 00:43:16,649 nine years, 10 years, 15 years. I'm like, wow, that's amazing. 840 00:43:17,429 --> 00:43:20,809 And but it really is that thing. It's like, hey, someone who 841 00:43:20,899 --> 00:43:24,649 feels valued will do more than someone who who does not, you 842 00:43:24,679 --> 00:43:28,819 know, and that goes right back to the family unit. You know, if 843 00:43:28,939 --> 00:43:31,939 you take stock in your spouse and you, you know, like, hey, 844 00:43:32,989 --> 00:43:35,539 you humble yourself and go, I I couldn't do this without you. I 845 00:43:35,659 --> 00:43:37,939 I know I couldn't do this without you, you know. And 846 00:43:37,969 --> 00:43:41,049 that's just me personally speaking, but to a lot of us, 847 00:43:41,049 --> 00:43:44,829 you know, even even to your kids, it's like, hey, man, it's 848 00:43:44,829 --> 00:43:48,129 like if you didn't do what I needed you to do, my life would 849 00:43:48,159 --> 00:43:50,049 be a lot harder. Well, thank you. 850 00:43:50,500 --> 00:43:50,560 Yeah, 851 00:43:50,920 --> 00:43:54,100 yeah, and and then especially when it comes to employees, it's 852 00:43:54,130 --> 00:44:01,290 like, I used to I used to shy away from this maybe 2526, years 853 00:44:01,350 --> 00:44:05,100 ago, and I stopped that, and I was working in a nightclub, 854 00:44:05,160 --> 00:44:09,090 which is bananas to begin with. But it was even in that you know 855 00:44:09,300 --> 00:44:13,470 kind of crazy atmosphere. The we had porters and we had bar 856 00:44:13,590 --> 00:44:17,610 backs, so it was porters, bar backs, bartenders, right? And 857 00:44:18,420 --> 00:44:22,100 you know the porters and the bar backs. It was always please and 858 00:44:22,100 --> 00:44:24,980 thank you. And I saw that some of the other bartenders wouldn't 859 00:44:25,010 --> 00:44:29,060 exactly reciprocate that same type of gesture. And I would 860 00:44:29,210 --> 00:44:32,450 just, and we would be all buddy buddy. And I go, hey man, I was 861 00:44:32,510 --> 00:44:37,160 like, you know, this dude makes a third of what we make. If you 862 00:44:37,250 --> 00:44:40,100 would just give him the common respect that they deserve to 863 00:44:40,130 --> 00:44:43,390 begin with, I go. I promise you that your ice will never go low. 864 00:44:43,480 --> 00:44:44,980 That's why you're always complaining, right? Because your 865 00:44:45,070 --> 00:44:47,350 ice is going low, and they're like, "Yeah. I was like, "Yeah. 866 00:44:47,680 --> 00:44:50,380 I was like, "It's because you're you're kind of a punk to him. I 867 00:44:50,410 --> 00:44:52,600 was like, "So you know, like you show him a little bit of 868 00:44:52,600 --> 00:44:55,840 respect, and I promise you, things will improve. Now, on the 869 00:44:55,840 --> 00:44:58,300 flip side, I'd also be like, "Hey, man, I get it. This guy's 870 00:44:58,360 --> 00:45:01,020 kind of a tool, but if you'll. You know, like if you'll give 871 00:45:01,110 --> 00:45:04,560 him the same type of attention that you give me, I think that 872 00:45:04,920 --> 00:45:07,830 there could be some extra money in it, and you know whatever 873 00:45:07,890 --> 00:45:10,830 that motivation is. But then both sides start coming up, and 874 00:45:10,830 --> 00:45:13,770 I was like, "Hey, look at this! Like we'll almost always get 875 00:45:13,770 --> 00:45:14,730 along. You know what I'm saying? 876 00:45:14,760 --> 00:45:16,860 It goes back to like what we talked about earlier: 877 00:45:17,130 --> 00:45:17,760 communication. 878 00:45:18,090 --> 00:45:18,150 Yeah, 879 00:45:18,570 --> 00:45:22,220 biggest crux of any business is lack of communication not 880 00:45:22,250 --> 00:45:25,730 enough, and it's you see it everywhere. Like what you're 881 00:45:25,760 --> 00:45:31,550 talking about, communicating even if you're a bar back, if 882 00:45:31,640 --> 00:45:34,280 you're a low

man on the totem pole, and you don't like the way 883 00:45:34,370 --> 00:45:37,970 someone's treating you, then tactfully speak up. 884 00:45:38,329 --> 00:45:38,599 There you go, 885 00:45:38,930 --> 00:45:41,140 and let them know. Be like, hey man, you know, I did this in the 886 00:45:41,200 --> 00:45:44,860 car. I've told the story numerous times. Had a guy in the 887 00:45:44,860 --> 00:45:48,190 car business who basically postured to me, condescended to 888 00:45:48,220 --> 00:45:51,310 me, all that stuff. Yeah, and I said, "Look, I completely get 889 00:45:51,970 --> 00:45:55,990 it. Now, at that time, I was 37. You deal with a lot of new 890 00:45:56,140 --> 00:45:59,230 people. There's a revolving door. People, you're trying to 891 00:45:59,260 --> 00:46:05,130 discern who sees this as a career versus a job. Right now, 892 00:46:05,250 --> 00:46:07,560 I'm here because this has got to be a career. I've got a family, 893 00:46:07,620 --> 00:46:10,440 I've got a house, the insurance, all that stuff. I got a lot in 894 00:46:10,440 --> 00:46:13,920 the line. Okay, I appreciate you taking your time out and having 895 00:46:13,920 --> 00:46:17,520 the patience to show me how to do this. But then I got up on my 896 00:46:17,670 --> 00:46:20,040 fist on my hands and said, "But if you ever talk to me like that 897 00:46:20,100 --> 00:46:23,900 again, we're going to have problems. That's it. I am not 22 898 00:46:23,930 --> 00:46:26,810 years old. I'm not wet behind the years. I've had a couple of 899 00:46:26,930 --> 00:46:28,280 laps around the sun. 900 00:46:28,670 --> 00:46:28,880 Right. I 901 00:46:29,839 --> 00:46:32,869 said just take stock in that, and I'll show you that I'm a 902 00:46:32,959 --> 00:46:36,319 decent person to pour into. Does that make sense? And he was 903 00:46:36,379 --> 00:46:39,799 like, you know, one of these, and leaning back in his chair, 904 00:46:39,799 --> 00:46:41,709 and he's like, and we were great after that. Yeah. And I had to 905 00:46:41,709 --> 00:46:43,809 do that with somebody else in the in the dealership, and we 906 00:46:43,809 --> 00:46:46,149 were great after that as well. That's it. It's like, dude, you 907 00:46:46,179 --> 00:46:48,819 don't need to freaking talk people down. No, you know, 908 00:46:49,209 --> 00:46:53,019 especially in a in a business like a car dealership where they 909 00:46:53,079 --> 00:46:56,409 can just bounce and go up the street. I never understood the 910 00:46:56,649 --> 00:47:01,499 militaristic boot camp esque way of training people, like public 911 00:47:01,559 --> 00:47:04,319 embarrassment, dressing them down. Yeah, dude, they don't 912 00:47:04,379 --> 00:47:07,229 have to stick around. No, and all you're doing as a manager is 913 00:47:07,319 --> 00:47:09,509 shooting yourself in the foot. Yeah, because you gotta gotta 914 00:47:09,659 --> 00:47:12,839 hire again, train them. There's a lot of energy and effort and 915 00:47:12,899 --> 00:47:13,979 money that goes into that. 916 00:47:14,159 --> 00:47:14,339 Right, 917 00:47:15,390 --> 00:47:16,500 just treat them like a human being. 918 00:47:16,769 --> 00:47:21,109 Yeah, and the other part to that too is now you are starting to 919 00:47:21,169 --> 00:47:26,419 become known for being demeaning or what have you. As to where, 920 00:47:26,539 --> 00:47:30,679 like honestly, the the brokers that I was with prior to Thrive, 921 00:47:31,519 --> 00:47:33,739 they're amazing, man. And that's the whole thing. It's like, hey, 922 00:47:33,979 --> 00:47:36,769 you know, if there was ever anything that needed to be 923 00:47:36,979 --> 00:47:39,289 addressed, was the fact that it's like, hey guys, you know, 924 00:47:39,409 --> 00:47:43,599 like check it out. We we kind of we've seen a theme and we want 925 00:47:43,599 --> 00:47:47,169 to get ahead of it. And here's here's what's happening. Here's 926 00:47:47,259 --> 00:47:50,709 the issue with it. And here's what you know what we propose 927 00:47:51,789 --> 00:47:55,599 how we're going to fix it. What are your thoughts, right? And at 928 00:47:55,659 --> 00:47:58,119 least they made an open forum because ultimately at the end of 929 00:47:58,119 --> 00:48:01,329 the day, it's their brokerage. They could be like, well, we've 930 00:48:01,419 --> 00:48:03,449 taken that into consideration, and we're still going to do it 931 00:48:03,449 --> 00:48:06,299 the way that we're going to that we're saying. But that wasn't 932 00:48:06,479 --> 00:48:09,359 it. It was it was a matter of going, hey, you know, like just 933 00:48:09,359 --> 00:48:13,079 like any other family, your work family, there's not always just 934 00:48:13,079 --> 00:48:15,929 going to be sunshine, or even the fact that of course, yeah, 935 00:48:16,139 --> 00:48:19,139 we you you can't just stay in your lane and they stay in their 936 00:48:19,229 --> 00:48:21,409 lane, and hopefully you guys never see each other in the 937 00:48:21,499 --> 00:48:25,009 break room. No, why don't you get uncomfortable? And that's 938 00:48:25,429 --> 00:48:30,139 that's been my my word for this year has been uncomfortable. Get 939 00:48:30,199 --> 00:48:34,399 uncomfortable. Do the thing that you're you loathe or that you're 940 00:48:34,759 --> 00:48:37,549 scared of or fearful or you think that you're not good at. 941 00:48:38,299 --> 00:48:40,899 Do the thing and then still be bad at it, but 942 00:48:41,710 --> 00:48:41,860 do it, 943 00:48:41,920 --> 00:48:43,990 yeah. And don't let it whoop you, you know. And just be like, 944 00:48:44,020 --> 00:48:46,540 you know what? I'm gonna continue to do this bad, but I'm 945 00:48:46,630 --> 00:48:50,290 not gonna not do it, you know. So when it comes to 946 00:48:51,670 --> 00:48:54,280 communication and relationships, that's the other thing too. Get 947 00:48:54,400 --> 00:48:55,390 great at what you hate. 948 00:48:55,570 -->

00:48:56,320 Yeah, yeah. 949 00:48:56,530 --> 00:48:59,560 It's actually that's a. I tell my kids that all the time. It's 950 00:48:59,590 --> 00:49:01,680 like, well, I really don't like it. Well, whether you like don't 951 00:49:01,710 --> 00:49:03,540 like it, still needs to be done. Yeah, go do it. 952 00:49:03,630 --> 00:49:04,080 That's it. 953 00:49:04,140 --> 00:49:09,030 You know, and a lobster only grows when it gets uncomfortable 954 00:49:09,060 --> 00:49:10,830 in its shell. Yeah, break that shell 955 00:49:11,010 --> 00:49:11,070 off. 956 00:49:12,690 --> 00:49:14,940 They talk about American home ownership being quote the 957 00:49:15,060 --> 00:49:15,840 American dream, 958 00:49:16,110 --> 00:49:16,320 right? 959 00:49:16,410 --> 00:49:20,310 You know, and that was a concept developed by the real estate 960 00:49:20,340 --> 00:49:23,840 industry, or maybe hijacked, if you will. 961 00:49:24,110 --> 00:49:24,170 Yeah, 962 00:49:24,560 --> 00:49:26,840 is it still alive for a 25-year-old? 963 00:49:27,680 --> 00:49:31,580 It is, and you know, here's here's one thing that I will 964 00:49:31,730 --> 00:49:36,860 say, and you know, clearly, once again, maybe unproper opinion is 965 00:49:36,890 --> 00:49:39,560 the the fact that it's like it's always a great time to buy. It's 966 00:49:39,590 --> 00:49:42,610 like that's not true for everybody, you know. And and 967 00:49:42,670 --> 00:49:46,030 sometimes it's a mat it's a matter of timing for that 968 00:49:46,210 --> 00:49:48,940 person. It's not it's not about the market. The market's going 969 00:49:48,940 --> 00:49:52,420 to do what the market's going to do, but it's ultimately it's is 970 00:49:52,720 --> 00:49:55,990 it your time to buy? And and that's a that's the the more 971 00:49:56,170 --> 00:50:00,090 honest way of approaching it of just going, hey, you know. It 972 00:50:00,360 --> 00:50:03,090 still really is one of the best ways to build wealth. There 973 00:50:03,150 --> 00:50:07,020 still really is, you know, a way to set things up for not just 974 00:50:07,080 --> 00:50:10,050 your family but families to come. But you got to do it 975 00:50:10,050 --> 00:50:15,390 thoughtfully, and you can't jump in half baked and and not know 976 00:50:16,470 --> 00:50:18,720 what lies ahead, right? You know, because some people, 977 00:50:19,860 --> 00:50:23,030 especially people on my side of the equation. They only get you 978 00:50:23,300 --> 00:50:25,340 to the closing table, and then they're like, "All right, good 979 00:50:25,460 --> 00:50:28,730 luck. And you know, my thing is, is like, "Hey, let's let's 980 00:50:28,790 --> 00:50:32,180 really think thoughtfully for down the road, not just this 981 00:50:32,270 --> 00:50:35,960 transaction, but what does this set you up to do? You know, and 982 00:50:36,350 --> 00:50:40,240 you know, with that being said, it's still very much alive. It 983 00:50:40,240 --> 00:50:44,350 just it just looks

different now, you know. I think the one 984 00:50:44,380 --> 00:50:48,610 thing that I've if I can you know if I can ruffle anybody's 985 00:50:48,730 --> 00:50:52,270 feathers or at least maybe hit them with a loving hammer is the 986 00:50:52,270 --> 00:50:56,350 fact that it's like hey, if it's your first house, it doesn't 987 00:50:56,530 --> 00:51:00,070 really shouldn't be your dream house because here's here's the 988 00:51:00,070 --> 00:51:03,780 one thing if you jump in, and it's not just about cost, but if 989 00:51:03,900 --> 00:51:07,530 you get everything that you wanted on that first go round, 990 00:51:07,920 --> 00:51:11,280 you won't appreciate the actual dream house. And you know, hey, 991 00:51:11,490 --> 00:51:14,880 start with a starter house, almost like practice, right? You 992 00:51:14,910 --> 00:51:19,080 know, like there's a reason why that firstborn, you know, like 993 00:51:19,680 --> 00:51:23,180 that firstborn kid, you know they get away with a little bit 994 00:51:23,240 --> 00:51:25,790 more. It's because they had more things happen to them. Because 995 00:51:26,060 --> 00:51:28,220 you, as a new parent, didn't know what you're doing, right? 996 00:51:29,270 --> 00:51:32,300 With a house, that's your first baby of a house. It's like, hey, 997 00:51:32,840 --> 00:51:36,410 things are going to go wrong, so why not it be a little bit more 998 00:51:36,410 --> 00:51:40,690 affordable? And then, hey, you know what? Now that the plumbing 999 00:51:40,930 --> 00:51:44,260 has has shot through the the ceiling, and we need to you know 1000 00:51:44,470 --> 00:51:48,190 replace all this and do drywall anyways. I was like, now we get 1001 00:51:48,190 --> 00:51:49,390 to paint, great, you know. 1002 00:51:52,240 --> 00:51:56,440 So good way to look at it. Yeah. So on that same wavelength, 1003 00:51:56,770 --> 00:51:59,290 somebody who is in their mid 20s or something like that, maybe 1004 00:51:59,350 --> 00:52:02,460 two or three years away from making a decision, 1005 00:52:02,670 --> 00:52:02,850 right? 1006 00:52:03,030 --> 00:52:04,050 What do they need to be doing now? 1007 00:52:04,500 --> 00:52:06,630 Oh man, study up, 1008 00:52:06,630 --> 00:52:06,900 prepare. 1009 00:52:07,260 --> 00:52:10,710 Yeah, study up on your credit first thing. Study up on your 1010 00:52:10,770 --> 00:52:11,490 credit. Give us 1011 00:52:12,299 --> 00:52:14,429 a crash course real quick on credit. Yeah, yeah, 1012 00:52:14,610 --> 00:52:19,020 really good. So I'll give you three tips. Number one, free 1013 00:52:19,260 --> 00:52:23,270 annualcreditreport.com. You get a you get a copy of each one of 1014 00:52:23,330 --> 00:52:27,710 the Experian, TransUnion, and Equifax credit reports. Review 1015 00:52:27,800 --> 00:52:30,590 it, see what's on there, you know. And ultimately, if you 1016 00:52:30,620 --> 00:52:35,300 don't have any credit, then unpopular opinion maybe, but you 1017 00:52:35,330 --> 00:52:38,420 know, take out a small gas card or take out you know if they're 1018 00:52:38,540 --> 00:52:41,710 sending you something for a secured, you know, Visa, 1019 00:52:41,770 --> 00:52:45,010 whatever, you don't have to run it up. Literally, guys, you 1020 00:52:45,040 --> 00:52:48,280 could spend five bucks a month on this credit card, and then 1021 00:52:48,730 --> 00:52:50,920 you wait until the statement comes out. As soon as the 1022 00:52:50,920 --> 00:52:54,310 statement comes out, pay it off and just keep building credit. 1023 00:52:55,150 --> 00:53:00,970 Second tip is Boost.com or ExperianBoost.com. If you, I 1024 00:53:01,060 --> 00:53:04,920 don't know who doesn't, but maybe there are some people out 1025 00:53:04,950 --> 00:53:07,770 there that don't have a streaming service. But if you 1026 00:53:07,770 --> 00:53:11,970 have any streaming services, if you'll tie your account to that 1027 00:53:12,030 --> 00:53:16,170 streaming service, you actually get positive points towards your 1028 00:53:16,230 --> 00:53:19,650 credit score every month. So it's passively giving you, and 1029 00:53:19,710 --> 00:53:24,590 you can tie your your major utilities, yeah, your your 1030 00:53:24,620 --> 00:53:28,040 utilities, your cell phone, your insurance. You tie all this into 1031 00:53:28,100 --> 00:53:34,340 that, and then the third would be you know like be mindful of 1032 00:53:34,730 --> 00:53:38,420 just the biggest thing is 30 day late. You could be a couple 1033 00:53:38,450 --> 00:53:41,260 weeks late, but don't be 30 day late. You know, and you know 1034 00:53:41,560 --> 00:53:44,800 those are the biggest things. And I tell people the only thing 1035 00:53:44,830 --> 00:53:48,040 about credit that you need to remember it's it's a time game 1036 00:53:48,550 --> 00:53:51,790 as to where you know if you do have something bad happen in 1037 00:53:51,850 --> 00:53:54,490 your credit, it's only a matter of time before it gets better, 1038 00:53:54,970 --> 00:53:57,400 and you just need to keep monitoring it. Don't pay to 1039 00:53:57,460 --> 00:53:59,290 monitor it because you can do it yourself. You know, 1040 00:53:59,860 --> 00:54:00,550 you want to be a fat 1041 00:54:00,670 --> 00:54:01,390 file. Yeah, 1042 00:54:01,900 --> 00:54:01,950 yeah, 1043 00:54:02,460 --> 00:54:04,440 and it's like the whole breakdown of the credit score. 1044 00:54:07,110 --> 00:54:10,050 Ronde Lambeth, who's a guy out of Vegas, you had him on the 1045 00:54:10,170 --> 00:54:13,320 podcast years ago, and we talked about the he he did a really 1046 00:54:13,350 --> 00:54:15,960 great breakdown on what the credit score really means. Like 1047 00:54:16,530 --> 00:54:21,140 a an 840 is just like all all the different points of a credit 1048 00:54:21,200 --> 00:54:24,530 score is your likelihood of paying something back 1049 00:54:24,680 --> 00:54:28,220 percentage-wise. There's an 84% chance on an 840 score that 1050

00:54:28,220 --> 00:54:30,380 you're going to pay it back. Right, and the lower it goes, I 1051 00:54:30,500 --> 00:54:31,910 just think of it that way. Yeah, yeah, 1052 00:54:32,299 --> 00:54:36,409 yeah. And you know, with that being said, the one thing that I 1053 00:54:36,439 --> 00:54:40,069 always let people know, I go, hey, you know, all finance, all 1054 00:54:40,279 --> 00:54:44,319 finance, whether it's cars, homes, credit cards, mattresses, 1055 00:54:44,589 --> 00:54:49,509 doesn't matter. Finance is just a measure of mitigated risk. How 1056 00:54:49,629 --> 00:54:53,259 much of a risk are you to let me lend you this line of credit? 1057 00:54:53,409 --> 00:54:57,699 How much of a risk are you for you to pay back this mortgage? 1058 00:54:58,269 --> 00:55:00,839 And that's all it is, guys. Don't take a personal. They they 1059 00:55:00,989 --> 00:55:03,419 don't they don't look at you as a human being. They look at you 1060 00:55:03,719 --> 00:55:07,439 in black and white on a piece of paper. So if you'll if you'll I 1061 00:55:07,769 --> 00:55:12,239 know it's hard because finances and credit are emotional. But if 1062 00:55:12,299 --> 00:55:14,879 you'll remember that finance is not personal, it's just 1063 00:55:14,939 --> 00:55:15,599 mitigated risk. 1064 00:55:15,840 --> 00:55:15,990 Right. 1065 00:55:16,229 --> 00:55:16,529 Yeah. The 1066 00:55:18,120 --> 00:55:20,660 there's a lot of people out there TikTok, Instagram, 1067 00:55:20,750 --> 00:55:24,830 YouTube, giving out information in all sorts of capacities, 1068 00:55:24,890 --> 00:55:27,920 especially in the real estate industry, leadership, like we've 1069 00:55:27,950 --> 00:55:30,890 been talking about. What's some mortgage advice that you've come 1070 00:55:30,920 --> 00:55:35,240 across that absolutely drives you bonkers? Be specific. 1071 00:55:36,020 --> 00:55:36,710 Anything come to mind? 1072 00:55:37,310 --> 00:55:41,860 Yeah, you know, like when when people are like, hey, rates have 1073 00:55:41,890 --> 00:55:45,580 gotten better. You should refinance. It's like, no. I was 1074 00:55:45,610 --> 00:55:48,700 like, you know what? Like, if it makes sense for you, sure. And 1075 00:55:48,760 --> 00:55:51,580 here's what happens: everybody gets marketed to. We all do, you 1076 00:55:51,610 --> 00:55:55,570 know. And some of it, it's a, you know, it just hits at the 1077 00:55:55,690 --> 00:55:58,000 right time. It's like, oh man, I was kind of thinking about this 1078 00:55:58,060 --> 00:56:01,650 debt consolidation thing, and you know, there's more than one 1079 00:56:01,680 --> 00:56:04,890 way to skin a cat, meaning he locks, he loans, closed in 1080 00:56:05,010 --> 00:56:09,120 seconds, what have you. But the the whole thing is like, if your 1081 00:56:09,300 --> 00:56:15,300 rate drops, or I'm sorry, let's say that you are at 6% and the 1082 00:56:15,540 --> 00:56:18,540 rate environment drops, and now your rate technically would be 1083 00:56:19,410 --> 00:56:24,770 5.875, right? Heck, let's go five and a half, right? So now 1084 00:56:25,100 --> 00:56:28,430 rates are at five and a half. Is that half percent really worth 1085 00:56:28,580 --> 00:56:32,450 it to refinance? It's not, you know, and not usually. Now, if 1086 00:56:32,510 --> 00:56:37,040 you got, if you just need this much of relief right now to kind 1087 00:56:37,040 --> 00:56:40,100 of get you through this season of life, that might last a few 1088 00:56:40,250 --> 00:56:43,840 years, maybe, but ultimately at the end of the day, and that's 1089 00:56:43,930 --> 00:56:46,690 my whole thing. I was like, even when I was with my my first 1090 00:56:46,720 --> 00:56:50,440 lender, big shout out to Kevin Watson when I was with Churchill 1091 00:56:50,500 --> 00:56:54,220 Mortgage was the fact that you know, like sometimes they would, 1092 00:56:54,490 --> 00:56:57,190 you know, hey, they they keep saying I need to refinance. I'm 1093 00:56:57,250 --> 00:57:00,280 like, no, man. I was like, you know, we ran the numbers, and 1094 00:57:00,310 --> 00:57:03,720 you're saving 17 bucks a month. It's going to cost you five 1095 00:57:03,810 --> 00:57:07,140 grand to refinance. Does that make sense? And here's your 1096 00:57:07,560 --> 00:57:09,690 here's your you know your break even point. And they're like, 1097 00:57:09,780 --> 00:57:12,090 oh, it's that far out. Well, the other guy said that you know 1098 00:57:12,090 --> 00:57:14,970 would be this. I'm like, sure. I was like, you could pay for 1099 00:57:15,090 --> 00:57:18,120 points. Let me show you how much longer it take you to break even 1100 00:57:18,210 --> 00:57:21,410 on that. And that's it. Is that you know it's always a good time 1101 00:57:21,500 --> 00:57:25,580 to refinance. Is like that's not true. And the other thing is 1102 00:57:26,060 --> 00:57:27,950 back to what we're talking about. It's always a good time 1103 00:57:28,040 --> 00:57:32,150 to buy. It is, but not for everybody. You know, and there's 1104 00:57:32,180 --> 00:57:34,490 always good deals to be had. That doesn't mean that that's 1105 00:57:34,520 --> 00:57:38,240 your deal. And ultimately, you know, I've seen the same thing 1106 00:57:38,300 --> 00:57:41,830 with houses. People, they get they're ready to go. They got 1107 00:57:41,860 --> 00:57:44,590 their pre-approval. They're ready to go, and their first 1108 00:57:44,620 --> 00:57:48,970 house, the inspection doesn't pass, or you know, like they 1109 00:57:49,060 --> 00:57:52,390 can't come to terms with the sellers, what have you. And I 1110 00:57:52,420 --> 00:57:55,120 get it. It's a natural reaction. It's emotional, right? You know, 1111 00:57:55,150 --> 00:57:57,370 and they're like, "Oh man, I really love this house. I was 1112 00:57:57,400 --> 00:58:00,010 like, "Wasn't your house? They're like, "What? I was like, 1113 00:58:00,610 --> 00:58:03,300 "You know, trust me. I've been

doing this long enough. Trust me 1114 00:58:03,630 --> 00:58:07,680 that your house hasn't shown itself yet. And some people, it 1115 00:58:07,680 --> 00:58:10,140 took years, like two years, before they found 1116 00:58:10,950 --> 00:58:11,100 the one, 1117 00:58:11,520 --> 00:58:12,120 and then they found 1118 00:58:12,720 --> 00:58:12,930 the one. 1119 00:58:12,930 --> 00:58:15,240 Yeah. So that's it, man. It's like, and I get it in our 1120 00:58:16,080 --> 00:58:19,830 immediate society of like everything is right now, right? 1121 00:58:19,920 --> 00:58:24,440 Oh, ding, ding. You know that that's hard for us to take a 1122 00:58:24,530 --> 00:58:29,540 moment and temper ourselves. But if you will have patience, your 1123 00:58:29,570 --> 00:58:30,290 house is out there. 1124 00:58:30,650 --> 00:58:34,220 Here's the thing. Also, I was thinking things way to spur the 1125 00:58:34,310 --> 00:58:37,430 market, the property tax argument. You know, because one 1126 00:58:37,430 --> 00:58:40,480 of the things I've been, you know, we talk about the American 1127 00:58:40,540 --> 00:58:42,730 Dream, home ownership, and I'm like, you never really own your 1128 00:58:42,760 --> 00:58:45,670 home as long as there's property taxes, you don't own anything, 1129 00:58:45,850 --> 00:58:51,490 right? That I love the fact that the property tax elimination 1130 00:58:51,640 --> 00:58:53,530 conversation has gotten traction. Now you're seeing 1131 00:58:53,620 --> 00:58:56,560 DeSantis in Florida. Yeah, they've got you know both sides 1132 00:58:56,620 --> 00:59:00,720 of you know the house basically agreeing to move this forward. I 1133 00:59:00,960 --> 00:59:04,830 really hope it sets a precedent because, man, yeah, talk about 1134 00:59:04,980 --> 00:59:07,950 spurring the economy, yeah. And it's a lot of a lot of people 1135 00:59:07,950 --> 00:59:10,140 were wondering, well, what do you replace the property tax 1136 00:59:10,260 --> 00:59:14,430 with? And I'm like, guys, make get rid of the income tax, get 1137 00:59:14,490 --> 00:59:18,300 rid of the property tax, make it a sales tax. Yep, you agree? 1138 00:59:18,630 --> 00:59:21,740 Yep, I absolutely agree with that. And you know, and people 1139 00:59:21,740 --> 00:59:24,950 like, oh well, you know, roads and schools. I was like, what if 1140 00:59:25,190 --> 00:59:26,930 you, what if you don't drive, and what if your kids don't go 1141 00:59:26,960 --> 00:59:29,300 to school? I was like, so you know, and I'm not saying, you 1142 00:59:29,330 --> 00:59:32,600 know, hey, I get it, but ultimately, there's there's 1143 00:59:32,720 --> 00:59:35,000 other ways, man. Yeah, you know, and I just think, 1144 00:59:35,120 --> 00:59:37,640 you know, I'm not saying there shouldn't be any taxes. I'm just 1145 00:59:37,670 --> 00:59:41,470 saying that the method, the methodology, my income should be 1146 00:59:41,680 --> 00:59:41,980 none ya, 1147 00:59:42,400 --> 00:59:42,610 right? It 1148 00:59:42,880 --> 00:59:46,330 should be none of your business, right? Okay, my property value 1149 00:59:46,840 --> 00:59:50,230 on unrealized gains and being taxed on unrealized gains should 1150 00:59:50,260 --> 00:59:54,280 be fricking noneya. Get out of my pocket. That's it. Okay, if I 1151 00:59:54,370 --> 00:59:57,220 go to buy something, I understand how much tax I'm 1152 00:59:57,280 --> 00:59:57,550 going to pay. 1153 00:59:57,940 --> 00:59:58,150 Right. It 1154 00:59:58,900 --> 01:00:01,170 yeah, sure. It's probably. Going to be a lot more expensive than 1155 01:00:01,170 --> 01:00:02,850 I'm paying now. I'm okay with that. 1156 01:00:03,660 --> 01:00:03,870 Yeah, yep. The 1157 01:00:04,140 --> 01:00:08,070 whole notion of you being well, you need to justify to us what 1158 01:00:08,160 --> 01:00:09,810 you wrote off and how much. Screw you, 1159 01:00:10,319 --> 01:00:10,499 right? 1160 01:00:11,190 --> 01:00:11,610 Screw you. 1161 01:00:13,050 --> 01:00:13,470 Yeah. Hey, 1162 01:00:13,650 --> 01:00:16,530 you got a big pay. You got a big windfall. Yeah, that's great. 1163 01:00:16,530 --> 01:00:18,750 It's mine. Yeah. I didn't realize it was in partnership 1164 01:00:18,810 --> 01:00:20,070 with you. Get the hell out of my pocket. 1165 01:00:20,190 --> 01:00:23,660 Right. And that's the whole thing. I work with a lot of 1166 01:00:23,690 --> 01:00:27,110 self-employed individuals and owners of their own company, and 1167 01:00:27,290 --> 01:00:31,490 my thing with that is it's it's really there's two times when 1168 01:00:31,520 --> 01:00:36,350 it's not great, income tax time, and when you're trying to 1169 01:00:36,530 --> 01:00:39,500 qualify for a mortgage, and the whole thing is like now the 1170 01:00:39,710 --> 01:00:43,090 non-QM market has done amazing things, but it still comes at a 1171 01:00:43,180 --> 01:00:46,030 cost. It's you know you can have a bank statement loan, you can 1172 01:00:46,030 --> 01:00:48,700 have a P and L statement loan, you can have an asset depletion 1173 01:00:49,810 --> 01:00:52,360 loan, but all those rates are definitely going to be higher 1174 01:00:52,570 --> 01:00:56,320 than what you're traditionally used to. So there are routes 1175 01:00:56,440 --> 01:00:59,860 forward, and I just let folks know I go, hey, it definitely 1176 01:00:59,890 --> 01:01:03,630 comes at a cost? It's a higher rate, but it allows us to move 1177 01:01:03,720 --> 01:01:06,210 forward. What's more important to you, the fact that you're 1178 01:01:06,720 --> 01:01:09,180 you're more and because clearly affordability should be number 1179 01:01:09,480 --> 01:01:13,470 one, the fact that your payment goes up by X, or you know the 1180 01:01:13,470 --> 01:01:16,710 fact that we'll have to wait another year until you can show 1181 01:01:16,860 --> 01:01:19,590 on your taxes that you know like you didn't write everything off, 1182 01:01:19,980 --> 01:01:24,410 and that's

it. And once again, we're guys call for what it is. 1183 01:01:24,410 --> 01:01:27,920 We're working off an antiquated system, the mortgage system 1184 01:01:28,010 --> 01:01:31,070 first. You know, probably income tax next. You're right. Income 1185 01:01:31,160 --> 01:01:33,140 tax, what is it? 80,000 pages. 1186 01:01:33,500 --> 01:01:34,850 Yeah, that's crazy. I'm not 1187 01:01:34,850 --> 01:01:36,620 even sure the IRS can make heads or tails of 1188 01:01:36,650 --> 01:01:36,830 it. No, 1189 01:01:37,309 --> 01:01:37,459 you know, 1190 01:01:37,760 --> 01:01:37,820 no. 1191 01:01:39,169 --> 01:01:42,009 That's that's the thing is that why wouldn't the real estate 1192 01:01:42,039 --> 01:01:46,539 industry start getting behind things like the fair tax, you 1193 01:01:46,599 --> 01:01:50,379 know, property tax elimination? Okay, start with primary 1194 01:01:50,469 --> 01:01:51,609 residences. That's fine. 1195 01:01:52,000 --> 01:01:52,180 Right. 1196 01:01:52,329 --> 01:01:56,529 Okay, and then let's go from there. Would they? Is there some 1197 01:01:56,589 --> 01:01:59,559 sort of movement? Is anybody in that industry even saying, okay, 1198 01:02:00,129 --> 01:02:03,089 maybe this is something we need to lobby and rally for. Right? 1199 01:02:03,179 --> 01:02:04,709 Is anybody having that conversation? 1200 01:02:05,759 --> 01:02:07,439 You know, maybe you need to 1201 01:02:07,470 --> 01:02:09,450 start having that conversation. No, seriously, you know, 1202 01:02:09,600 --> 01:02:14,970 because here's the thing that even with the new road, I forget 1203 01:02:14,970 --> 01:02:21,560 the actual. Forgive me, but the the new act the for housing is 1204 01:02:21,650 --> 01:02:25,520 that you know like the one of the key differences between a 1205 01:02:25,610 --> 01:02:29,570 modular and a manufacturer modular is stick build and you 1206 01:02:29,600 --> 01:02:32,810 know manufacturer is recognized by HUD right so you know it's 1207 01:02:32,870 --> 01:02:37,190 got tags on it like like it's an RV you know I'm saying like and 1208 01:02:37,610 --> 01:02:40,040 I'm not knocking on manufacturer there's some amazing builds out 1209 01:02:40,100 --> 01:02:42,760 there for manufacture but it's stuff like that to where like 1210 01:02:42,850 --> 01:02:46,900 now they're making they're going to be making manufactured deemed 1211 01:02:47,020 --> 01:02:49,420 more like a stick build, right? You know because it's very 1212 01:02:49,570 --> 01:02:53,200 similar to modular. It's built off site, and the difference is 1213 01:02:53,230 --> 01:02:55,960 that it's brought in on a trailer. All right, so if we 1214 01:02:56,050 --> 01:02:58,990 don't have it on a trailer anymore, and you you bring it in 1215 01:02:59,050 --> 01:03:02,220 on a flatbed more like you do on a modular. It's those little key 1216 01:03:02,430 --> 01:03:05,310 things that we could have been doing this a decade ago, and 1217 01:03:05,370 --> 01:03:08,730 affordability wouldn't be as much of a problem as it is now. 1218 01:03:08,730 --> 01:03:15,000 So you know, the and forgive me once again on popular opinion, 1219 01:03:15,090 --> 01:03:18,570 but even the worst thing something good comes out of. So 1220 01:03:19,350 --> 01:03:22,730 COVID quarantine, Fannie Mae, Freddie Mac, the whole housing 1221 01:03:22,790 --> 01:03:26,900 industry overnight had to switch how we did business because of 1222 01:03:27,380 --> 01:03:29,660 you know the the fact that we couldn't meet in person, we 1223 01:03:29,750 --> 01:03:33,110 couldn't sign docs in person. We and they started coming out with 1224 01:03:33,350 --> 01:03:36,260 so many different programs, and you know five six years later, 1225 01:03:36,680 --> 01:03:40,450 we we are doing well with it, right? And they've been wanting 1226 01:03:40,450 --> 01:03:43,510 to do this for decades as well, but now we're doing it 1227 01:03:43,540 --> 01:03:46,300 successfully, and that's the whole thing. It's like you know, 1228 01:03:46,900 --> 01:03:50,320 if we if we're able to do that, why can't we look more 1229 01:03:50,410 --> 01:03:52,690 thoughtfully for other stuff like taxes, 1230 01:03:53,080 --> 01:03:53,230 right? 1231 01:03:53,350 --> 01:03:57,790 Homeowners insurance stuff like that. So I I do feel like we're 1232 01:03:58,150 --> 01:04:01,110 living in one of the most progressive times when it comes 1233 01:04:01,140 --> 01:04:03,990 to stuff like that, which people would be like, ah, you know, 1234 01:04:04,110 --> 01:04:07,320 like it'll take years before that happens. It's like, you 1235 01:04:07,350 --> 01:04:08,400 know what? We got 1236 01:04:08,400 --> 01:04:10,140 to get it going. Let's let's start now. Then 1237 01:04:10,259 --> 01:04:10,739 that's it. 1238 01:04:10,830 --> 01:04:10,890 Yeah, 1239 01:04:11,250 --> 01:04:11,490 let's go. 1240 01:04:12,000 --> 01:04:15,930 I mean, yeah. What do you have planned for yourself? Where do 1241 01:04:15,960 --> 01:04:19,680 you want to be? Well, actually, let me let me ask you this: in 1242 01:04:19,740 --> 01:04:24,470 Middle Tennessee, money not an object. Where are you going? 1243 01:04:27,140 --> 01:04:27,320 You know, 1244 01:04:28,010 --> 01:04:29,570 what's the next upcoming community? You think 1245 01:04:30,560 --> 01:04:35,060 next up? You know, Fairview's been blowing up, really has, and 1246 01:04:35,690 --> 01:04:36,260 then it's the last 1247 01:04:36,379 --> 01:04:38,059 vestige of Williamson County. Yeah, 1248 01:04:38,419 --> 01:04:43,689 yeah, yeah. Which is ironic, you know. And then even we've for 1249 01:04:43,749 --> 01:04:46,749 the for the nature of all the builders that that we work with, 1250 01:04:47,079 --> 01:04:51,399 what have you? I've I've really taken a shine to Lawrenceburg, 1251 01:04:51,789 --> 01:04:55,359 even Summertown, and even Linden, and it's just one of 1252 01:04:55,359 --> 01:04:58,299 those things to

where like it wasn't too long ago, Jim, that 1253 01:04:59,019 --> 01:05:02,939 Spring Hill. And in the Columbia used to be these sleepy little 1254 01:05:03,029 --> 01:05:06,719 towns too, and now look more busting at the seams. So you 1255 01:05:06,749 --> 01:05:11,519 know, I would push out to them, and you know, basically better 1256 01:05:11,609 --> 01:05:15,029 to get in early and then just watch everything being built up 1257 01:05:15,239 --> 01:05:15,569 around you. 1258 01:05:17,670 --> 01:05:20,070 Interesting. So 510, years-that's where you're going 1259 01:05:20,070 --> 01:05:20,510 to be. You think? 1260 01:05:20,930 --> 01:05:24,620 I think so. You know, and you know, and I'm. By the way, guys, 1261 01:05:24,770 --> 01:05:29,810 I just to tell the whole story, I barely got over an acre, and I 1262 01:05:30,110 --> 01:05:32,780 loathe mowing my lawn. So when people are like, "Oh, you're 1263 01:05:32,810 --> 01:05:34,730 gonna get like a bunch of acreage, I'm like, "No. I was 1264 01:05:34,760 --> 01:05:37,790 like, "If anything, I was like, "I'll get. I'll probably just 1265 01:05:37,820 --> 01:05:41,320 stick it to like two acres, and then I'll have a little ADU for 1266 01:05:41,380 --> 01:05:44,800 my mother-in-law and a little ADU for my mom, and I'm like 1267 01:05:44,860 --> 01:05:47,680 just far enough away to where like you know we can draw the 1268 01:05:47,770 --> 01:05:50,020 blinds of like we'll see them in the morning. 1269 01:05:53,290 --> 01:05:55,540 Very interesting. Well, how do people find and follow you, my 1270 01:05:55,600 --> 01:05:56,530 friend? Yeah, 1271 01:05:57,220 --> 01:06:03,630 yeah. You guys can reach out to me at D Cruise at Bell Bank, or 1272 01:06:03,690 --> 01:06:09,990 you could reach out to me at 727-418-0424, and let me make 1273 01:06:10,050 --> 01:06:11,040 your next introduction. 1274 01:06:11,219 --> 01:06:12,329 Are you on the socials? 1275 01:06:12,780 --> 01:06:19,260 I am. I am on Instagram, Cruise Housing Advisor, or at Cruise 1276 01:06:19,350 --> 01:06:21,950 Housing Advisor and Daniel Cruz, 1277 01:06:22,880 --> 01:06:26,240 nice. There you go. Although all that information, as always, 1278 01:06:26,300 --> 01:06:28,490 will be in the description, guys. Make sure you check out 1279 01:06:28,670 --> 01:06:32,390 mmtbp.com. That's where you can find all these episodes. If you 1280 01:06:32,450 --> 01:06:35,750 got anything out of this, share it, subscribe, like it, all that 1281 01:06:35,810 --> 01:06:39,350 fun stuff. Give us a four or five star review would be fine. 1282 01:06:39,380 --> 01:06:42,370 That would be wonderful if you can, if you can't, let me know 1283 01:06:42,490 --> 01:06:45,670 how I we can begin making it worthy of a four or five star 1284 01:06:45,700 --> 01:06:51,640 review. Just go to that website mmtbp.com. Mister Cruz, always a 1285 01:06:51,700 --> 01:06:52,360 pleasure, my friend. 1286 01:06:52,510 --> 01:06:53,680 Thank you, sir. Appreciate you.