Low Housing Inventory In Texas and Interest Rates Rising  | Coffee With The Johns S02E03

Low Housing Inventory In Texas and Interest Rates Rising | Coffee With The Johns S02E03

[Music] so [Music] warning the following show is intended for mature audiences viewer discretion is advised welcome to season two episode three of coffee with the john's we are live good morning oh you see there it is finally got the sound is it lj can you hear us now yes so i think the mic is on i think everything's on we're connected so sounds good sound is good oh man all right let's not jinx it right no no no we're good to go we're gonna go so we got a lot to cover one of the biggest things uh that we we're gonna be talking a lot about real estate there's a lot of like always there's a lot of things going on that's affecting the real estate market and you need to be ready um one of the things that we've spoken on the last podcast about is if if well you need to unmute your computer there sir um if you're going to be investing in real estate with how many investors we have right now in the market and how fast things are changing in the market if you are not paying attention or watching coffee with the johns um you're going to be behind the ball right because things are moving so quickly and strategies are moving so fast that if you're waiting to see what's happening and what's going to happen it's already too late well the only thing that's difficult is uh you look at what happened everyone the economist is like oh the real estate market's going to crash real estate market's going to crash we knew a lot of people that saw what happened in 2008 and nine are like i'll be ready for the crash be ready for the crash and then come out and out of covid and like the market absolutely took off or like the majority of people got it wrong and now it's real estate because by the time you if you're flipping buying something turning around and uh flipping it it can take you three four five six months to get to that point to where hey it worked out for us because we bought a house like the day they've closed the country down and that actually turned out to work pretty good for us over the long term once we went to sell it and then also what is it that we we talk about a lot is understanding when it's luck and strategy right so with that property we did get lucky well i mean it is the economy the way things played out you know people wanted to get your space suburbs yeah and it was a huge house i think it's like 2600 square feet and it was at a perfect price point so you know it worked out but by all means it wasn't that we were you know really smart we just got lucky on that deal and that's something like you just kind of got to hedge your bench like what are the chances of it going down what are the chances of it going up and kind of risk assess your strategy there at that point because like nobody really knew it was going to go up like it did and if it would have gone down we were kind of like oh crap what are we going to do this house hopefully it rinse well um but it worked out but there's no way to predict or project or kind of see where it's at so you kind of got to hedge your bets never get too over leveraged on one strategy like we were talking about last week the uh whole tailing and it's like if you own that your only exit strategy is a whole tail something what happens if you've got 20 30 properties on the shutdown or something comes along black swan event and all that stuff goes away now you got 30 properties and all the debt borrowed against it so you got to kind of be careful with you know what's funny about that when when i record an episode for an investor's journey i always do some research on the topic what are people saying and all that um just to see what kind of information is out there so i did an episode recently on why you should be hoteling versus wholesaling and i started doing some research and people are talking about hoteling like you should you know it's just as uh as risk-free as whole selling and all of this and for those of you that don't know uh what hoteling is you are essentially wholesaling on the mls but with the biggest the biggest difference is that you actually have to buy the property yeah you actually have to purchase take time on that property so that means that it's not like wholesaling where you are simply getting a contract and then a sale you're selling you're selling you're selling paper when you're wholesaling you're selling an actual property you're not really putting risking any capital nobody is in that point uh except for the buyers you're screwing over but like nobody's risking any real capital at that point but you have on hoteling you or your lenders need to put up that money to buy the home yeah so it the risks go up exponentially so yes you should hotel because it makes you more money right now but at the same time you need to go in there saying okay and if it doesn't sell for what i needed to sell to make my money back or to a or make some profit can i take this down and flip it can i take this down and keep it as a rental what can i do with this property it cannot be that your only exit strategy is to hotel it because at that point you your risk just went way through the roof oh for sure because i mean that money is owned and then tell something you got to realize like why is hoteling working it's like who is buying it if it's a property that has to be renovated and somebody's trying to flip it like there has to be somebody willing to flip that property so you've got to understand like who it is that's buying it why they're buying it and what they're going to do with it to where like if it's like hey this person's going to landlord the property because they can't find anything that's a bit different like understand your like biggest buyer sentiment of like who's buying a wife it's just a bunch of people bidding over scraps to flip properties like that's a buyer pool that can very quickly disappear oh for sure so you got to keep in mind what it is that and what it is and who does it buy just like when we were hosting we'd always say like why is somebody buying this property we want to learn we want to know why so same thing if you're wholesaling talk to that other agent so like what is your client plan to do with it's none of my business but i'd like to ask just to see who's buying properties as they get put on the market like this well and it's going to give you better information as to what type of property should you be marketing to what type of negotiating should you be doing like are you losing too many deals because you haven't pivoted the way you negotiate and you're maybe getting the properties under contract way too low and right now buyers are willing to pay more you know i mean these are all things that if you're not paying attention to the market to the buyers and and actually to your network and networking with people and finding out what's going on um you're never going to change so i wanted to before we move to the next article that kind of ties into all this i wanted to say hello to andrea kim lj lorenzo molly ricky let's go everybody's excited make sure you hit that like button on youtube if you're enjoying this content it helps us out tremendously only one person's hit like so far oh no guys there was five before we started yeah so remember wood climb exactly lj has a good point we partnered with him on a deal and we were gonna flip it and then when we went to put it on the market everything was good we had renovated it and by all means the comps supported it but yet we got a shitty appraisal we got an offer in oh no the comps went down like from when we bought a twin we like we just caught that perfect portion to where like we were saying like 205 probably sell at 210 215 but we got an appraisal back in like 190.

And it was prior to six months and those comps had disappeared and all the stuff was smaller and everything was selling less move-in ready selling for 200. so ours was gonna be arv ready and we felt yeah 205 210 or something like that and then all of a sudden like the comps disappeared but now if you go back and look at it there's a whole bunch of other properties going on where houses that are like cause we're looking at another one that neighborhood at like four feet and it's at like 190 and ours was like 1685 and appraised for 190 three months ago or no way more not now but uh yeah lj's saying we lost two of the highest comps but exactly it was during the lockdown but here's what happened again because we have multiple exit strategies we ended up saying you know what we are not going to sell for we were still going to be okay but that wasn't the purpose of why we bought the house and because of the data and we saw what the market was doing with covet we're like you know what let's just keep this house we're going to go ahead keep it as a rental and it turned out to be a pretty good bet right because i mean is what we it was it happened in like april may time frame is right there before like the post-covet boom happened it was right there in that low pivot portion of just like we don't know where it's going to go it's like well we can rent it and we found some finance we got financing to hold it it's like this hope for the best and we got a good rental rate on it so we cash flowed still to where even if the prices went down we were still cash flowing a couple hundred bucks a month so so we just got a a thumbs up from mr joey hey remembers here's the sound effects i always have this other things i just forget to use them so hotel is only good if very little rehab needed to get the property lendable for retail buyer so no brian um what we're seeing right now is because of such low inventory we are actually seeing a lot of investors are willing to come in and pick up properties off the mls investors are picking up houses that look like complete dog crap um they're damn near tear downs and everything if you go on the mls you're going to see that there are houses that we would buy obviously not for those crazy prices but we will buy those um so you're seeing all types of properties and now what we're starting to see again because of the low inventory is we're seeing retail in that big house that we went to this week we're starting to see retail buyers come in and buy houses our fixer-uppers knowing that they're like you know it's fine there's nothing out there i like the location i like the house we'll fix it up you know we'll put in the money the money we'll do the work and all that and we'll fix it up to what we like yeah so you have retail buyers that are willing that they have cash because they're you know refugees from the coast and they're coming in with that kind of that you know california new york money and that's what i was i was getting out to where like who is it that's buying it's like there are people from out of state that look at texas look at san antonio some of the statistics that we've thrown out these last couple weeks of san antonio being one of the few countries or major metros that actually had growing construction demand and construction jobs so that's something those people that's why people are buying on the mls even for flips is you have people that they're just so desperate to get into real estate and get into flipping or they just want a property here because they believe in the long-term appreciation of something 1031s you have a lot of money like you said refugees from the coast moving here because you see a lot of that and some of the articles we got here if we want to to get into some of the topics uh show that so one of the things that i saw was very interesting uh there's not a whole lot to it but the nra files for bankruptcy and moves to texas files for bankruptcy sir you told me you were gonna start with you ho well okay nra files for bankruptcy in our nra files for bankruptcy moves to texas and they they quote the this is a quote from the ceo uh wayne lapierre the toxic political environment of new york the plan to be the plan can be summed up quite simply we are dumping new york and we are pursuing plans to reincorporate in the nra in texas my first thought was like why didn't you move the nra a long time ago because new york is not the most gun friendly state in the union and texas is very friendly like why is why are they still in california or new york well so here's my question for you i don't understand this the nra is falling for bankruptcy how and why i mean it's the nra this is what i don't understand like how are they filing for bankruptcy aren't they supported like by everybody throughout the country like why are they filing for bankruptcy is just just a way to maybe get out of the retail space or something where whatever brick and mortar spot they got in new york like what's the purpose well i think they're just it's a non-profit but it's still a corporation that that kind of runs i mean non-profit obviously um but they're filing for bankruptcy because just reading some of the article it's new york suing the nra nra sue in new york county lawsuit after lawsuit after lawsuit racking up all kinds of legal fees and things associate that so if that those get too uncumbersome you and finally for bankruptcy as a corporation is a is a tactic to restructure debt to get things moved around to be able to open back up under a new structure so i think that's one thing why they're doing that is like all these lawsuits go away if you file for bankruptcy it was from what i understand so hey they're eliminating all this debt all these probes into their business dealings and stuff like that it's like we're done filing for bankruptcy and we're going to move but one thing new york did say in the article is that they're not going to allow the nra to file for bankruptcy just to get out from underneath their oversight in new york or whoever it is that's suing them out of new york fellow new yorker mr lj on the chat and he's saying that governor uh i guess that's a or maybe it's french maybe it's like governor moran um yeah has spent lots of money suing them over the years so i guess maybe that's you know you follow well that's what they say about that yeah the political environment they're just like we're done with this we're moving yeah um the next thing they're moving on to is the 2020 migration trends of u-haul ranks 50 states by migration growth it's sexy it is and well it's also going back to like i think our very very first episodes that the the salesman of the year for u-haul was uh gavin newsom out of california and this article pretty much proves it um so really what it is is u-haul puts out a article every year because obviously u-haul being a moving company they have a lot of data nationwide of where people are moving to and where their people are moving from so what they track is one-way moving saying somebody rented a u-haul in sacramento california and re took it to austin texas and left it and did not return with anything else so that's what they're tracking so what they really are looking at is where are people moving to the most and where are people moving to the least and the top five is no surprise is all kind of southern sun belt states or tend to be lower tax states what's number one tennessee is number one up from number 12.

Uh texas is number two florida's there's a be careful which be careful what you wish for no i gotta pick a new state but yeah yeah tennessee is number one texas number two florida number three ohio number four in arizona number five one thing that shocked me was arizona is number five and it's up from 20 from last year so you think about all the kovit stuff and people they're saying oh people aren't leaving california it's like uh the data shows it is because arizona right next to california grew from 20 to five in one year from 19 to 2020 that's a huge jump um and one thing they said in the article those that quote a lot is the people moving to tennessee because it's always been i think it was from 2016 to 2019 texas had was number one for those years and florida was always number two and then they kind of jumped back and forth between two and three and now uh the tennessee's up there but the president of u-haul of nashville or of u-haul in tennessee is like i'm seeing a lot of people from california move to tennessee because they're attracted to the lifestyle the east and central tennessee are enjoying the biggest gains in u-haul arrivals the top growth cities include knoxville the tri-cities cookville clarksville cleveland murphreesboro and maryville were the top growing places where u-haul people are moving to and it's no surprise your bottom five states are all heavily taxed heavily burdened states of maryland massachusetts new jersey illinois and california being number one and i was reading the article in california and illinois like texas and florida always fighting for the top two illinois and california are always fighting for the bottom two yeah i was like no surprise so that's why what i was surprised is how further how much further up new york was i was actually you know it and this is what i think with all this is that california and a police people if you've been to or are from either one correct me but can afford california is a nice place to live right because weather right the weather is beautiful um i hear that i hear because i've never been yeah but you have nice beaches you have a lot of options so the weather new york is not because of the weather but the love people have for new york i don't think they have for california i think new yorkers real new yorkers have too much loyalty to new york too much love for new york that it makes it hard even if they're failing because it's like yes i'm hurting but it's still new york you get what i'm saying like yeah and and again i that's just my belief like why you see people so eager and so quick to just leave california because they're just going to like all right what's another nice place to go they're going to florida they're going to texas right because of weather and stuff like that so it seems more like there isn't that pride of california it's just it's a nice place to live but new york i feel like there's that pride well so there's a lot i think there's a lot of pride for california but it's also the pride they're like oh but i can't live there because that's too expensive i i don't want to live there because i know you look at like some people in um like new york i mean as far as like pride i mean uh lg i love this one the the go bills thing door that's the way they say hi that's the way they say bye that's the way they say how you doing buddy i mean like this is go bills for everything you drive down the road you say that then half the street says go bills back it's like yeah there's a lot of pride for uh new yorkers in certain areas yeah it's uh pretty entertaining especially with the the bills now um playing him as the afc championship this weekend and i was talking to uh lj about it and he's like the amount of people coming out of the woodworks of bill's people he's like i was at the grocery store and i said go bills to a guy he looked at me like i was weird he's like ah poser he's not from new york yeah cause he would have known that that's just your your your call sign oh bills aren't from new york either they're from canada but whatever um but yeah i mean i so i think i wonder if it's that uh we have molly saying that it could be because uh californians are are smarter than new yorkers and know when to get out so that's actually that's a very funny and good good point right there molly um they'll wrap up that article it's just one of those things that uh people are leaving those states and you kind of look at where they are and it's like i think the if you look i mean just look at the last elections the way those states voted like the top five were they've all voted republican and the bottom five all voted democrat and it's kind of one of the things where they talk about people leaving these exodus of these states and then you talk you look at news articles from those places and they defend them all the time oh new york no people aren't leaving new york there's a love for new york there's a love for california but you look at these statistics like um with texas and florida being one and two for the past five years and now you have tennessee moving up there it's like this is just ramped it up to where it's one of those things that uh i think we read an article that california's on the verge of losing congressional seats right because for the first time i think as an article last week that they actually had a net migration loss from one year to the next over a 20-year period it only happened like two times in the past like 50 years that that's happened like no it's been it's been kind of nuts uh the next article that i saw here is um the what is it the these are the five hottest and the three coldest market for home prices in 2021.

So it kind of stays on point with what you were just reading uh as far as you know it being these same markets these same areas are are the ones that are leading yeah and um as you see here you you got austin texas phoenix nashville tampa and denver so colorado it wasn't in the top five but it was number six yeah and it had a huge bump up yeah it was a big jump too yeah it had a huge jump because of the same thing i mean people are getting the hell out and colorado we have a good friend of ours that lives there and it's a beautiful place to live right now old sure but it's a beautiful place to live so that's what they're going again it makes sense right people from california look for beauty so they go to colorado and tennessee you know what i mean like it just it makes more sense you ever been to eastern colorado why would i go to eastern college it's flat nobody talks about eastern colorado still colorado it's flattering kansas but yeah but this was your article so was there anything else good in here oh i mean it was just the that fact of um austin was ranked uh the hottest last year as well the median price of a home sold in austin in december was up close to 25 as compared to december 2019 so 25 increase from one year to the next which is just crazy to me and that is the largest gain amongst the 50 largest metros that they track and it this is a quote from the senior economist jeff tucker for zillow zillow's not a small real estate company as far as the amount of data that they have no not really he goes these sun belt destinations are migration magnets thanks to relatively affordable affordable family sized homes booming economies and sunny weather record low mortgage rates and the increased demand for living space coupled with a surge of millennial buying their first homes will keep the pressure on home prices there for this foreseeable future so that was just something that was very not interesting it just kind of further to the point that it's like the booming market here in texas or in florida or in tennessee like it's here like if you're trying to chase that it's like it's already happening it's been happening we've experienced the last four five six years of prices just going up and up and up and up and now with the massive inventory shortages that we're experiencing here with the some of the uh market updates we're getting ready to put out next week that what was it the top six zip codes had less than one month of inventory i think it was what i sent that picture to you guys yeah i don't think it was less than one month but it was uh right at there i mean the biggest thing that i remember seeing was exactly what you showed on that picture was and we posted it on our facebook page on an investors journey facebook page so go check it out the picture but it's the top 10 zip codes they were all over 200 grand the the median price and under two months of inventory yeah that was the first time well that was out of all like was it 64 zip codes that i track only seven of them had above three months of inventory that's absolutely insane when you look at it from a supply and demand aspect when your supply and demand is six months and we're at sub twos our top ten several of them are under one which is crazy um it's actually caveats pretty well into some of the articles that we're leading into it was also stated in this article um just to kind of keep in mind is that as prices rise affordability weakens and more and more potential buyers are sidelined the national home builders increase single-family home starts by only 12 month-to-month in december according to the u.s census but they are still far behind in keeping up with demand they're also hampered by rising costs of labor labor costs and material which prevents them from putting up more affordable homes and uh the three worst what article is this that's the same article the uh zillow one looks like it leads into some of the other topics that we're gonna talk about like they're wanting to boost home buying capabilities it's like there's no inventory that's going to do this can be terrible um and that the three are three worst places to move they kind of they put a lot of uh into the article of why people are moving these top three or top five but then when they list the top three being new york san francisco and los angeles they just kind of skipped right over that didn't give any like justification why i was like yeah i wonder why you just skipped over that and didn't give any reasons why but we all know the reasons why people are leaving new york san francisco los angeles so very dense very locked down very expensive and people are leaving for more affordable well and places and then also we have this next article where spike in lumber and land prices causes home builders confidence to fall from epic high so we we are seeing this too i mean what was it that uh plywood went up to uh went up two bucks again yesterday it's up to like 31 32 bucks then it go up four dollars uh dude it was like nine dollars a year ago no but we didn't go up four dollars like last week or something like that that one of our contractors called us and we're like whoa it's good that we're done yeah i mean it's kind of like one of those every week's kind of reoccurring thing right probably plywood's up another two dollars a day i checked yesterday at home depot and i was just shy of 31 bucks holy so from wow from nine dollars to 31 bucks in about a year and i was like that's not just that's why are um so on this one they talk about builder confidence in the market for single family homes fell three points in january to 83.

Um what's important is that two months ago the index hit a high of 90. in january 2019 before the pandemic it was at 75. so before the pandemic it was at 75 anything over 50 they consider it to be positive so it went all the way up to 90. now it's back down to 83 because of this and one of the guys um i don't know who he was but a shortage of buildable lots is making it difficult to beat strong demand and rising material prices as are far outpacing increases in home prices which in turn is harming the housing affordability and that is something that we are seeing that it's causing builders in a sense to kind of get very strategic with the way they're building right so right now we are looking at something to do with some uh with a lot because lots are being sold kind of expensive it kind of expands oh they are well that's what i said land yeah land lumber and labor is our main inputs to a house and when those things drastically start increasing it's like even though interest rates fell through the floor well there's no inventory so appreciation is being hampered by the fact that there's no velocity or turnover of homes where you have these two fighting forces to where you have home prices shot up so they say oh you developers are making so much money it's like well you don't look at how much lumber and labor has gone up and land it's gone up with those it's almost step instead not even so you have that and then you have to the bs of dealing with the city right with all the regulations and not even regulations just the bureaucracy of things of how long it takes to get an answer from somebody or the run around so as investors you know we're not sitting on a hundred million dollars you know with no charge at all and the money's just sitting there and we can just billy dally how they say as long as we want while they're trying to figure out you know how to tie their shoes like it's difficult it's something that we need to move fast and every time we go to talk to the city or we have something you talk about oh here wait a week wait two weeks wait three weeks it takes this long it takes that long wait a week for us to tell you to wait another two weeks and it's like all these delays all this bureaucracy all these things that they don't they don't even have a clear understanding of what it is that they even want for us to build it makes it very difficult to do it and then that who what is that who did that cost get passed down to the end consumer for sure and that's just something that i i talked about or some of these articles that i've been reading about like biden's been coming out he's been campaigning on saying like hey i want to increase home ownership it's like by giving this um i think ahead and it's biden looks to give a big boost to home home buyers and builders so i was like that's what i'm curious about it's like how are you going to give a boost to builders because we are really hamstrung by regulations and labor costs material everything a lot of why lumber has gone so high is because i was reading an article on uh somebody's website or i tried explaining why it's like in its supply chains it's the tariffs that we have coming from uh had coming from canada was that 20 and they dropped it down to nine trying to help with this and supply chains from overseas for uh southern i think it was like southern white or yellow pine is what most of stuff's made out of and there's just such a supply chain hamper and they're talking to their suppliers they're talking their manufacturers and they with them being shut down for so long and then this boom of demand coming out the back side they have yet to be able to get up to capacity before the pandemic and now you have this massive drain on the need for it so they said don't expect it to go away anytime soon like it's going to take a while for prices to come back down and the reason prices are going up is because they're having to go to other places and other manufacturers pay truckers more pay higher fuel prices paying having to get different ships that run over time to run this stuff and those costs just kind of trickle all the way down so this article was the things that the biden administration plans to do so to boost home ownership which to me scares us is for me is because we don't have supply to even fuel what is there and now you're saying you're going to give another juice to homeowners um they're giving a 15 000 first time home buyer tax credit a first tire home buyer is classified as somebody that has not bought or owned a home in three years right so like i've owned a house but now i've rented again for three years so now i can be qualified as a first-time homebuyer again to me that was news to me i didn't know that you know your new home buyers status resets after a certain amount yeah and then it's saying like it's even though it's a tax credit it's also something that go towards like down payments so they're trying to figure out how to get cash these people up front versus hey buy a house and when you do your taxes next time we give you a credit back so that's something that uh here's what i find interesting with this and i want to get your thoughts they are given more incentives or not even incentives because these aren't incentives but they're given money basically to people that can't afford to buy their house barely afford right it's important it's just you can barely afford to buy it so here let us give you money so you can afford to buy it to me we keep going back to financial literacy financial responsibility of saying you know yeah i get it you're giving me that boost and that's great but i still can't i shouldn't be buying this right because i really can't afford it so what is this doing like is this setting up that next trend of foreclosures whenever that's where i kind of go with this it's like one that's just gonna make prices increase that much faster because the free market can move so much faster than government regulations so they say hey 15 000 credit you're gonna add a massive supply of first time home buyers that can now pay fifteen thousand dollars more for housing and it won't take long a couple months maybe for housing to readjust to that boom and prices to increase that much more so without the inventory to supply that demand you're it's gonna do no good and they can do way more i think to encourage buyers to buy homes then encourage builders to build homes so they there and some other stuff they're talking about doing is wouldn't that do the same thing though if they're encouraging buyers to buy more homes you know we have that supply and demand issue so then builders at that point could potentially make out okay if they just wait a bit and wait for those prices to catch up because i mean i i look at it kind of like what they play with oil right with uh the oil mark opec in the old market is that you have these companies that produce oil and they are saying okay hey the prices of oil are going down too much we'll hold back supply let the prices of oil go up so we can make money and then we'll release supply now what do you think of these big companies big companies you know your kb home builders your perry all these bigger companies of doing the same thing of saying all right we have a housing inventory shortage but it's also if we build as fast as we usually build and put it on the market we actually won't make money right now right or we won't make that much what if we just build to a point where the lumber and all that can be preserved and just leave it you know what i mean and keep the inventory low until prices keep going up where it makes sense and now we'll finish off these houses and go dumping them in the market you know what i mean a little more strategic type of investing i i mean i don't know because you read every article and they're like we are trying to build as fast as we can we're trying to buy everything as fast as we can because you just look at how long it takes from raw land turn into a development you're talking years in the making to do all that stuff to do all the infrastructure do all the planning to do all the utilities oh it's a development like yeah yeah like a neighborhood so like the things that are coming on the market now they've probably owned this land for your business for your big developers like they've owned this land for probably a year two years three years or more some of them like they buy stuff 10 years in advance big tracks land hold on to them waiting for the development to get to this area so they can yes i'm sure they can occur and one of the things they want to do is encourage new construction of both single-family and multi-family housing like yes but you need to deregulate something to get housing done faster but that doesn't fit the agenda of we need to be green well being green makes the houses more expensive making us more regulations more building codes more oversight to make sure things are being done right it slows the process down and when you slow the process down that cost gets passed on straight to the in buyer and then the market will adjust to labor material shortage in lane or labor material and land is going to go up in step with those and sometimes faster than what the prices are going up so you have a huge dilemma of what things are going to do you hit on something that i wanted to talk about is right now with the biting administration and with the the more the democratic um control of the government eat the damn mic um going green is a big play on the left right it's a big thing because of uh global warming and all of these things that are going on so going green is a huge play on that side do you think also for home builders and maybe even rehabbers there's going to be bigger incentives that might help increase their profits if they were to be more green conscience you know what i mean i don't know maybe doing solar panels maybe doing things along those lines like do you think that makes more sense or moving forward again well stop reading a freaking article and pay attention if right now you have biden and you have the everybody pushing more of the green agenda like everything which at some point they might put two and two together if you want the economy to do it if you want people to do it you got to give an incentive for it yeah so they want to go green are they going to give more incentives to home builders or going green i mean i have no idea uh what they're i mean they almost have to but at some point it's like how much incentive can you actually give because there's a lot of things that play into home pricing in people's ability to buy and want to buy so i think they can give tax credits just like you have the solar tax credits that you can give but some of that stuff actually doesn't make you or make you money it costs you money to where like i've heard solar i get all those calls all the time of hey you get all these tax credits for going solar but when you look at the cost of it it's still not worth it yeah you get a big boost up front when you look at these things only good for 20 years and all the maintenance costs that goes with it it's not worth it and everyone tries to sell you oh but your house is worth more because it has solar panels it's not appraisals do not take into account that you spent 40 grand putting solar panels on your house even if it is worth a little more it's nowhere near the cost of it so they have to give some kind of incentive and i can see them doing that uh expanding those credits just like the reason tesla has made it as far as it has is because it was selling those green credits to other companies to generate revenue because all of its green cars um but and then i have um i i wanted to cover this article on uh you know mortgage refinance the man spikes 20 percent as borrowers fear missing out on record low rates right so what are we seeing is that refinances are going up even more what does that mean is that as refinance goes up more that means that less people are selling their homes which is putting even a bigger strain on the inventory well that's what i i was trying to get across to people like we talked about last week about like in order for a house to appreciate houses have to sell so if there's no inventory and no turnover of properties if inventory gets too low that will slow down appreciation for the fact that there's just not enough houses turning over and people selling and buying the houses for prices to even go up where yes if you put a house on the market you got six offers or i mean we've talked to some people they had like 45 showings and like 15 offers in 48 hours that's what's gonna happen it's like you go in the market boom it's gone and it appreciation does go up you get an extra three five grand on the property well if that doesn't happen continuously over and over and over very quickly your prices aren't going to appreciate so that's going to kind of slow down the appreciation but it's going to price out your entry-level home buyer because guy getting fha financing needs 5 500 and closing concessions to even buy the house is going to be beat out by somebody putting 50 grand down a conventional loan like they just can't compete so your first time home buyer that qualifies for that 15 000 tax credit it doesn't do anything because they're just gonna get beat out by the crap the the cash buyer or the person actually putting real money down not just borrowing everything and leveraging themselves to the hill to buy that well and and also in this article they have uh you know so it's up 20 from last week from the previous week so just in a week it was up 20 um that was the highest level since march uh volume was 93 higher than a year ago 2.8 percent of 30-year uh with a 20 down uh down payment up from eight uh from two point eight six so it's uh at two point eight eight up from 2.86 not a crazy bump there but it you know interested in talking about the industry well that was nothing that um that previous article was talking about with the biden's plan for home building one of the biggest concerns is as this is as the nation's economy recovers the need for the fed to be there buying up the mortgage-backed security supply is going to be lessened and you take out the biggest buyer that's going to put upward pressure on interest rates where you've already seen the 10-year treasury go from i think as 0.5 up to 1.1 which that they tracked that like very close correlation between those where recently they're like the mortgage rates should be like in sub twos by historical splits whatever i'm funny about all that is you and i study the economy you know quite closely we read a lot of books on the economy and stuff like that and the markets and one thing that i find funny is they say you know oh the 10-year treasury reflects the 30-year you know they move in sync until they don't and they don't and it's like oh my god they're not moving and saying there's a big crisis coming we're all going to die and then it goes back to normal nothing happened and then oh but you know this this treasury represents this thing in the mortgage but and then it goes off and then it comes back it's like all of the what i'm getting at is that all of the trends all of the cycles that we have read about that we've studied as far as it being you know um market cycles for real estate market cycles for the stock market and all this it's like none of these things make any sense anymore and none of these metrics matter anymore because the way everything is moving it's kind of like we're in uncharted waters and everything seems to keep going you know every because i hear a lot of economists from uh more of a conservative point of view and they've been crying you know that this was gonna fall like eight years ago in four eight years and every time they're like oh you're gonna see the way they're doing this and the fed and blah blah blah this is gonna happen and then all of a sudden it doesn't and then oh yeah but look what they did here here now this is gonna happen well like nobody would have thought the fed was going to step in and be the buyer like well nobody expect that to happen like there's always some way to there's nothing right now we keep seeing more and more of nobody expected nobody expected nobody expected but one of the things that i i believe we can most likely expect and disclaimer here we don't get financial advice legal advice accounting advice medical advice we're not dentists psychologists not a vet i'm not a vet i'm a veterinarian i don't give any advice to how to yeah veterinarian yes and well we're also not veterans either that being said the only thing i think has stayed consistent is that they are going to do whatever is necessary to keep this ball rolling yup whatever that looks like and they're going to move the line they're going to move the goal post they're going to move the metrics they're going to change what they measure everything in they're going to change you know what is being tracked what's not being tracked what matters what doesn't matter you know oh well yeah that used to matter but it doesn't matter anymore or yeah well this still matters even though it shouldn't you know what i mean like they just keep changing yeah so it's like my thing is like the only constant i guess you can have is that we've seen time and time again is that they are not willing to sacrifice you know well that's what we just talked about last week where it's like the federal reserve like they were came very close to just buying straight into the stock market to stabilize the the markets there like japan the bank of japan is the biggest buyer in their stock market like they will go as far as they can do whatever they can to keep things going until who knows what happens that the whole thing just it had to be like a system-wide collapse of everything to get them to not try everything and even then they're still going to try they're not going to go out just like oh throw our hands up and forget it give up that's not going to happen and then to continue with this article we had um it says the expectation of additional fiscal stimulus from the incoming administration and the rollout of vaccines improving the outlook drove treasury yields and rates higher so we have low inventory right where this is continuing to add to more low inventory because people are not looking to sell they're saying interest rates are could be going higher i and again this is a personal opinion i don't believe that they can i mean even before covet they kept trying to raise interest rates and every time they did the market tanked like the even when the economy was supposedly good they couldn't raise interest rates you know and now it's like we're even worse off but that's what they're not raising interest rates they're keeping interest rates low it's the treasurer only buys like those the short-term treasury that's the rates that they're talking about then they can't raise those or like the market will determine because i mean the 10-year treasury has already risen it's risen from 0.5 to 1.1 so that isn't the fed trend like that's what's happening like after they quit buying these things like markets will naturally start to try to rise and normalize themselves because somebody has individual investor has to be one buying those things or selling those to where those are the market forces that uh drive like car rates loan rates credit cards and things like that i disagree i think they are more driven by at this point by the fed in the government they are the biggest buyers of most of these things and i think they they they want to put some confidence as because i seen i don't have the articles here but i have seen articles of the fed saying you know the fed and um fannie and freddie talking about mortgage rates are going to start rising because of a more positive outlook on the economy so for viewers and everybody curious about interest rates i don't think they can rise much because yes we have a lot of buyer demand but what i see from the government is like they they make the housing market the linchpin of the economy kind of you know what i mean like if the housing market is doing good then the economy is doing good and they got to keep propping the housing market which is why all these incentives all these things for more people to keep buying so i don't think interest if interest rates start rising you're going to start scaring people out of the market because they're going to be like oh okay now it's getting a little more expensive you're going to make home prices go down a little bit well but you have the caveat to that is if you keep them low people get priced out because prices rise too high right so it's the exact same thing so it's a very fine line balance that you have to do to where if you increase demand then prices go up well that demand that extra incentive did nothing because now it's been priced into the markets the thing is is like how do you go back from that once you give that incentive the prices are just to it's like it's very hard to go backwards because now everyone's leveraged up on buying those things and like you said the foreclosure crisis happened again it's all these people that shouldn't be buying buying and now they're paycheck to paycheck to where if the economy does falter and start progressing how do these people get out from underneath those mortgages so where i'm more going at is instead of trying to guess at when interest rates are going to fall if they're going to fall if they're going to go up if they're going to go down make sure that you're buying because it makes sense to buy and you can afford it and it's good price and it's a good area whatever it is but make sure you're buying because it makes sense at the moment not because of what may or may not happen in the future because where i'm going at with all of this you know these cycles and all these things is that nobody knows you know what i mean like we are literally in my opinion in uncharted waters i don't think you know any anybody can predict with any certainty what's coming in the next three months because they just keep changing everything so to me it's like look if you're gonna buy a house buy a house because it makes sense don't buy a house because you feel that interest rates are gonna go higher or because if you're buying it for that reason and you still can't afford the house or it's a taste squeeze or something it doesn't matter what the hell interest rates are you're putting yourself in a bad situation you understand so don't do the investments or the purchases based on what could or may or may not happen yeah what the fed said or didn't say because they changed their mind almost every other week so it's like don't do it that way because i think you're setting yourself up for a very big failure in a very big sec it can go up and go down it doesn't matter exactly um that's one thing uh an article i put in here like what's the stock and bond market going to look like from here um and they kind of talk about like hey this is where this is what the biden administration is inheriting uh and what they think because i mean people like the stock market isn't the economy but it is something that does tie into the economy and what people consumer confidence feels like how wealthy they feel because they look at their 401ks they look at these things that you have a wealth effect that comes from it so just some numbers of where biden is taking over because we talk about like how are these corporations profits falling through the floor but their stock valuations are going up it's a drastic uh to drastic numbers and just some numbers from the trump term uh the s p grew at an annualized rate of 13.73 percent or 67 67.26 percent that's the third biggest annualized gain under a president the nasdaq composite meanwhile posted a 24.17 annualized return over four years so that's every year that's not just total over four years now every year annualized return of 24 increase and that's the largest number under a president since the exchange debuted in 1971.

2021 housing market

But now how can those things continue with already being at massive valuations over what historical numbers are and then some of the stuff that biden has said campaigned on that they're they're going to raise taxes some way shape or form taking the corporate tax from 21 to 28 considering hiking the capital gains and dividends from 24 to 43 that's taking money out of the market and disincentivizing people to invest from 24 up to 43 on capital gains also raising income tax for the highest earners because those are the people that own the majority of stuff because like if you have high income you invest in something and a lot of that money is going to be tied to the stock market so it's one of those things of like how can these things continue how what is buyer sentiment going to be if you're already at massive valuations from one term or from one point of time doesn't matter the the presidency or who's in the office it's like it can't continue to grow like this but we've been saying forever it can't continue to grow like this for the past six months but it has but it's also one of the things that um you look at the dot-com bubble of what happened there it's like it grew for several years before it popped and when it did pop it took two three years for it to come back down to levels before people still felt safe investing again so where are things going to go from here with the rising interest rates of like the 10-year treasury that we talked about and um i think it was the goldman sachs forecast the gdp will grow at a five percent annualized rate in the first quarter of 2021 and a 5.8 percent increase over that so yes the gdp is coming back but you're already starting at such a high place can those things continue and prices continue to rise is that going to continue to be there and how much i mean we'll see how much power the government has to incentivize people to keep this going and keep it from falling again what do we see is that the s p 500 is really the scp the smp six or five what is it what do you have amazon apple facebook tesla um google applicable intel microsoft uh microsoft not intel um so you have pretty much those are like i believe i was reading those are 40 of the s p yeah because they said those are all nasdaq traded companies and it posted a 24 annualized return well those companies are still in that 13.7 return for the s p and they're the biggest drivers of that stuff tour like that's why these what was it a year ago uh amazon or who was apple or amazon that first hit the trillion dollar mark was it apple yeah but it was like apple hit it and then shortly after amazon hit it and now they're at like two trillion dollars now there's like six trillion dollar companies are six trillion dollars six trillion how do i say that there are six companies that are valued at a trillion dollars or whatever it may be now so we're like it just barely hit it one time it regressed and then now boom everybody's a trillion dollar company for those big companies like that so like how much these valuations things have grown for those companies we go back to what we always talk about is when these companies become as big as they are they can't fail right when six companies are 40 of the s p 500 you cannot allow those companies to fail that comes with them especially the spotlight tech has gotten recently as far as censorship and using their power and size to we don't we don't say that word here okay censorship nobody's censoring we love you guys but um i wanted to talk about this next article that it kind of tied into that how bitcoin tumbled to 30 000.

So it went from 40 grand yeah 40 uh 40 000 down to 30 000 right in less than a week yeah and i follow this economist uh you do too what's his name damn uh the rebel capitalist george george gammon i was watching one of his podcasting he had on their video of this couple young couple teaching on tech talk how it is that they work from home and they're able to sustain their lifestyle and i wanted to find the video and i completely forgot but the video video's hilarious because he says you know it's simple i just opened up you know my robin hood app you can create accounts free and they even give you a stock so i mean they're paying you to be on there and then you know you put some money in and you wait for a stock to go up and when it's going up you buy it and then when it stops going up you sell it and then you just you make money i'm like wow and that view that video probably has like six million views of like a bunch of 14 15 20 year olds 20 something if you go on tick tock and i i'm i'm sure you've seen it too the amount of young kids i'm talking about 15 years old you know talking about how to make money in the stock market and all of this is insane to me those are signs that all right something's wrong here is that old adage like when your guy at mcdonald's starts telling you trying to sell you houses you know you gotta like this might be getting wrong it's like everybody or like the what was it the pot stocks uh a couple years ago when everyone's like when everyone all of a sudden like oh you gotta buy a marijuana stocks marijuana stocks like when why are you buying it oh it's been going up that's your only justification and you don't understand anything about economics and corporate governance and how money actually works that's when you know you got a problem you also have the rapper mr jay z one of the richest uh rappers in the world he just created a 10 million dollar fund too i was reading that this morning for weed companies or pot or whatever the legal term is uh marijuana marijuana for uh for you know weed companies and all that so i mean you're starting to see a lot of people get into that because they look at what it is we have uh and i don't want to is it liberals not offensive right liberal government yeah policies yeah huh liberal policies liberal governments right and they support legalize of drugs of weed and stuff like that so jay-z i believe he's a billionaire or worth at least a billion dollar thereabouts let's do it he's not an idiot yeah so he he's looking at this biden got elected full democratic government he's like yeah well it's also one of the things i look at this too it's like oh they need to generate tax revenue but where do they generate tax revenue they could legalize marijuana because i know colorado like they've taxed the hell out of it and they make a ton of money by taxing marijuana stocks so like you need additional revenue create a new product de-legalize or decriminalize something allow something to come in the market and put 20 percent tax rates on the thing well that's a way to because i mean marijuana is here people you can it's not hard to find to go on the streets and find somebody to find it that's all coming here illegally meaning the government can't tax it yeah so how else do you get that tax revenue make it legal and have the shops open up and tax it and don't get me wrong i always said like i'm for legalizing drugs and everything because at the end of the day it's up to you whether you want to destroy your life or not you know what i mean like if you want to take and i'm talking about like abuse of drugs right i'm not saying that you smoke a little weed it's going to kill you i mean i don't i don't do it but i you know i'm not saying do you um but going back to this article with uh bitcoin the latest plunge which comes without any clear reason this is what i keep going back to underscores the volatility of a currency that's become a popular investment for day traders in recent years even as it still has limited real world application bitcoin rose over 300 in 2020 closing the year right about where it sits currently so you and then what i found interesting is that joe biden is picked gary gensler who had taught at mib um mit did i say he might be not the men in black not the men in black either massachusetts institute of technology williams get that right but yes so he taught potato potato so he taught at mit cryptocurrencies and he picked this guy gary to be the chair of the securities and exchange commission so my thing is more on like you think that this is going to be something that biden is leading more towards and seeing like hey how can we get into this cryptocurrency how can we maybe create a cryptocurrency that's part of the government like do you think it's going more that way or they're trying to regulate it where it's like trying to kind of tax it make it illegal to own i don't know man i really that's a i don't know because you can make probably strong cases to both sides just from our points of like i have no idea who this dude is but knowing that he is somebody that is educated in cryptocurrency to put into the sec is something that i i don't know because like i put some articles in here that blackstones are blackrock has joined the bitcoin business where it's becoming more and more tied into the economy and the longer it goes unregulated the more damage that is going to cause the economy when they do try to step in and regulate it so i think it's something they're keeping an eye on and they're allowing it to happen because you can tax that where hey it goes from ten thousand to thirty thousand and now what is the um capital gains rates doubles like that's tax revenue yep so people are allowed to day trade that and the government can't tax that so i think they're trying to regulate it in the sense that they want the tax revenue but they want to make sure they're getting their tax revenue because it's something that is hard to track because they're it's a distributed ledger and you don't know who's making money where where it you can find these applications that are third party get money into them and trade in them and get the money out without any way for them to track that it was you that made that money so i think that's might be the direction they're going is how do we regulate and watch this to see how we can generate revenue from it do you invest in bitcoin i have some you have some what are your thoughts on it personally i look at that as am i educated in it not only spit but it's one of the things it's kind of the same reason you buy like gold or silver of just like it's just a hedge against the future small bit chip on the table that hey if it goes from 10 000 to 200 000 it's like hey i had some minute to ride that wave um my my point to that is you have biden picking this guy to be the head of the sec the chair of the sec um and then you have what we've been led to believe as unlimited stimulus as much as the country needs yeah so they're going to keep printing more money right dumping more money into the hands of people and the majority of people a lot of people don't actually need the money so my thing is like all these people are seeing you know the only reason why bitcoin even went to 40 grand like there's no fundamental about it pure speculation the same with tesla perceived value exactly so they're you know the same like that guy gave that very sage advice of you know when you see stock going up just buy it and when it stops going up sell it right so you have that kind of mentality why wouldn't bitcoin tesla just keep going up then you know what i mean because you just you're keep giving people more and more money you know and they don't need it well it incentivizes risk played where it's like i don't need the 600 bucks i don't need the two thousand dollars what i do with it it's like well i mean let's put a chip on the table and bet on something where that's what drove the market from the high from the depths of march all the way up to where it's at now or that quick turnaround is people jumped in and buying when people saw it going up more people jumped in more people jumped in but i keep going back to like 2000 or 1999 98 97 like why wouldn't you invest in an internet company the value the stock market the values of it just keep going up and up and up so i have this money let's just keep putting it in there and eventually it has has to regulate and change at some point to where the fundamentals of it it can't be why are you buying the stock because it's just it always goes up well it always goes up until it doesn't and then it can crash all the way back down and but it's also like what are these assets this is whatever somebody believes or to be worth to where if prices start going down they could say ah this thing's not worth it i can't take this financial pain anymore i'm gonna sell it i'm afraid of loss and i'm gonna pull it and that can kind of build on itself because the people that are buying it don't understand the underlying fundamentals of what things are as far as just buying and holding in like long term so let's kind of get into what's causing all of this right the the big bad uh virus pandemic that's happening right now in the market um that's causing all of this instability all of this volatility and biden had put a plan in to get a hundred million vaccines distributed and into uh americans within his first hundred days right he wants to curve this so let's say he does right let's say he actually can put out the vaccines which what i found stunning is that new york has thrown away an insane amount of vaccines because it comes frozen the vaccine and once it defrosts you got to use it like it's like milk you know what i mean like you can't just have it there there was one of them between was it fizer moderna one of the two came at like a sub like 100 degrees fahrenheit down the other one could sustain being at 30 40 50 degrees for a short period of time but yeah that's the point for a short period of time yeah the distribution what blows my mind is we've been hoping for a vaccine since this whole thing started how did these states how did these governments not have a plan in place for the proper distribution of the vaccines they're getting all these vaccines and it's like they're deer stuck you know and what do they say they're in headlights because they're shocked they're stunned they don't know what the hell they're like well maybe maybe we should do it to this neighborhood and there's no plan there's no organization well there's nothing and then they get wasted and thrown out well part of the issue was is the way that there's an article that i had on here for last week it's the very top that u.s to change vaccine allocation to favor states that quickly administer shots and one of their things was is like when they first came out with the vaccines they said it's only people of certain groups that could get at frontline workers nursing homes and things like that or they didn't have the distribution to those set up to where hey we need to get these people in here well health frontline workers healthcare workers they're dealing with the pandemic on the front line they can't just take away to get over there to get these shots well and it's nursing homes well a lot of these elderly people can't just get in a car and drive over here to get this thing done they need transportation they need help so we're rolling out these people is slow to where that's why a lot of these things we're going bad it's like we just can't get it to the people you're saying we need to get it to so we're now they're changing the guidelines and saying hey it's to everyone's 65 and older instead of nursing homes and or the the most vulnerable because they realize exactly to that point is vaccines are being wasted we can't let these things go wasted we're at this point like we need if they're being wasted we need to change the way these are being administered and that's what they're getting uh i think gearing up tour for yeah well there's a article that i was reading too for san antonio that had 5.6 million calls jam phone lines for well-med coveted vaccine registration in san antonio so san antonio has um has received more vaccines and everything like this so they're opening up they said 4 700 vaccines were administered within three days uh in a community center and a total of 9 000 doses were available at the two facilities but all of the shots have been filled according to well-met officials so you have a lot of people lining up and blowing up the phones to get it done they gave on here the hours that they're going to be giving them and it says where was it so san antonio city officials said in a press conference blah blah blah week the registration for the non that no cost covered vaccine registration filled up in just six minutes and that more than 11 000 people were on registration websites when it opened and alamo location alamo dome location is able to provide up to 1500 vaccines per day and san antonio has four mass vaccination sites that can administer nearly 30 000 vaccinations a week including the alamo though so you have all of this that you know a lot of major cities are going in but we go back to the same thing it's the same like when they first shut down the economy and they said well we got to shut it down because we can't afford we can't have the high um hospitalizations right that we were having we can't manage all that so it's like all right i understand like hospitals need to be ready then they open up and it's the same standards of hospitalizations and what i mean is like in san antonio it's 15 percent if you if we exceeded 15 percent then they got to shut down you know bars get shot down again restaurants go down 50 to me i would have thought you've had all these months that 15 percent it could still be 15 but it should be a lot more patience now because you should have modified hospitals set up wings done something for the second wave yeah i mean from from there day one they've been talking about a second wave right from day one yet now they opened up and everybody stunned at the second wave and i'm like how are you not prepared yeah you've been talking about the second wave since the first one hit you understand we've been preparing we've been talking about a vaccine since this first or yeah just that like where's as temperatures got colder people moved inside being another big wave of things and it's like why weren't you ready for that how did you not expect it wasn't a surprise we all know we all spoke about it like my thing is and don't get me wrong i'm speaking from complete ignorance of not knowing you know the ins and outs of the government and all of that but to me it's like i'm sorry you don't have smart people on there that can start predicting and start planning for all right what are we gonna do when we distribute when these vaccines are available why don't we set up a plan for distribution why don't we set up a list of people that are gonna get it you know like so then when they're saying hey we're distributing vaccines all right we only need 40 000 because that's what we have set up yeah no yeah send me a hundred thousand that was the thing about it is like it was like the the this whole thing has been like perfect storm with an election year so you had an administration of changing over right in the middle of vaccines becoming available like so now you have one side having one a penny the other side having another penny and they're at a stalemate because a lot of this stuff is being run by the government so that that is crazy because like another thing of that article i put that as this article was written in january 12th and a quote from it was as of monday morning more than 25.4 million doses have been distributed across the united states but just over 8.9 million shots had been administered 16.5 million shots are just sitting in storage not being used because they're just like well we don't know how to administer them we don't know how to have an effective plan to get them rolled out because i think it was just that it's like you had a massive administrative change from the last three months of the year right when these things are starting to get rolled out and you had all the political fighting and everything going back and forth that just caused a perfect storm of like nobody was thinking about it because they're like well who's in control who's not in control is this kind of going to take over what's their thoughts well they think different so do i start moving here do i start moving there so and it was two stark differences of two administrations that just changed hands so i think that was one reason why these plans weren't put in place um and one of the things biden's talking about is like the funding is not there for it oh the funding is not there come on they have the freaking control print button at their disposal it's not they're saying it's there but it's not passed legislatively to get it to where it needs to be no it's bad administration of money because they have from these stimuluses even from past stimulus plans how much money is still available to distribute to certain programs but they didn't need that much so it's just sitting in reserves yeah you can't just take it from here and put it over there without approval from congress but move faster i mean to me it's like where's the priority it's it's been so much politics so much nonsense that's like money is not being put where it needs to be put yeah because of all this nonsense are we are we serious here like it just blows my mind so where am i leading with all this where am i going right my thing is like like we said before this is an uh business podcast this is a podcast about you know what do you do with your real estate investing what do you do with your investments and all of that so prove it the vaccine opening up people feeling comfortable affects all of this and one of the articles i had on here last week that i was going to cover was uh moderna ceo says the world will have to live a covet forever right so they're saying look covet is not going away this is not something that we're gonna create a vaccine and it's over that's it we killed it you know covet is gone he's like it's not going to happen it's it's going to be here it's going to stay here and it's something that we got to learn to live with so you have bad distribution of vaccines biden wants to distribute 100 million vaccines in this first hundred days i don't even know if there's plans in place to be able to effectively distribute 100 million and we have home sellers are not wanting to sell their homes because they're scared of having people in their homes they're scared of going out they're scared of doing all these things so a lot of homeowners are not putting their houses on the market because all the uncertainty with covet so this affects all of these areas businesses and we're going to cover some of the businesses that are making some uh interesting choices what are we going to do if we get another pandemic that's worse or another strain of covet they're talking about a strain that's a mutation of the strain in africa which is highly more contagious than this strain if it's highly more contagious death rates are going to go up you understand because more people are going to get it easier more people are going to could die from it so death rates are going to go up do we shut down again then at that point because hospitals still haven't prepared they're still not adjusting what happens well i mean we're getting a constant just open for two months close for five open for a month close for six like is that just life as we move forward who knows uh uh who knows i mean the one thing that we do know is the least out of the way is the quote unquote politics of it and trying to damage the other side because now the party of power has four years where if they keep the agenda going they have to own the economic repercussions that come out of it versus last year when it was an election year they were trying to pit the pandemic against each other to where it's like hey at least now we're past that that's one thing i was happy for with is like let's just get past this election get past all this stuff let's move on with life and let's figure out where we're going what's going to happen so what's going to happen with it who knows and it's like and because you can't just build a hospital overnight right they take a very long time to build and to ramp up capacity and like hope it's not the only thing out there that's killing people like you still have hearts you still have all the other things beforehand so how do you run these things because also one thing i've read is uh i've heard is hospitals are losing money in funding because they're not able to have the elective surgeries and the amount of people coming in that they have been able to make money off of because this cova thing is being funded by the government and money's not there but i thought uh hospitals were being subsidized by the government if you say somebody has covert they just write you give me more money that's hearsay i've never really read it or confirmed on that so that's why i know there was a lot of subsidizing by the government for some of these things but how is that money being properly administered or is it getting where it needs to be get or got to get into gotten to gitzen um that's my point and those are the things that when you're looking at trends and and seeing what's coming down the line those are the things that you got to pay attention to it's what does all of this mean how is this all going to affect you know the the coming economy how is this going to affect housing because you're looking at all this you're seeing why inventory is so low is because people aren't selling their homes because of fear of covet and it doesn't seem like kova is going away anytime soon and then they're talking about these strains that are mutating are highly more um infectious so it's like what does this mean if covet there's a mutation of the strain that just gets substantially worse god forbid like but do we just all barrel down in our homes and just call it a year i mean who knows i mean that's just one of the things like anybody can speculate on it but nobody knows until it happens i mean those are the things that are coming down so here's another article of businesses and how they're dealing with this so you have a uk cruise liner will require all passengers to fully vaccinate against kova 19.

So you have this because a lot of um positive cases have come from cruise liners right i believe uh they said like over 700 or something like that came from one like princess cruise line or i don't know some crap like that um it's a lot it's a lot so you have this cruise liners that's saying everybody needs to be vaccinated at least 14 days prior to um take jumping on the cruise but here's what i find interesting is uh so they're going to be restarting their cruise date uh to may to allow time for people to receive the vaccines at least 14 days prior to travel but here's what's interesting is that they're going to be tested before getting on and they're going to reduce the capacity of customers on board enhance cleaning regimens and double its medical staff amongst other precautions so my question is who's paying for all this because you are lowering the amount of people that are going to be on the cruise you are increasing the amount of cleaning that you're enhancing your cleaning right which i'm sure that's going to account for more cleaning crew maybe equipment that's expensive maybe you know increasing costs increasing costs and lowering but then you're doubling your medical staff you know to provide more medical staff and everything like this are cruise line prices going to go through the roof for you to take a cruise or oh they're happy well they would have to it's one of the things they have to do because like you look at that and if they want to open up they want to function and then it's just it's a new business model and hope that it's there but it's going to come down to the i mean you're adding a further i don't say income gap but it's like if ticket prices go up your middle lower class can't afford to go on a cruise so now you're making it to where it's it's the wealthy that go so now you're even creating a further divide between rich and not rich because of these situations so and these kind of policies that they're having to come up with to make it safer and make people feel more comfortable so my question is more along the lines of okay so cruise liners are doing this so they can so they're able to start operating again i mean they've been pretty much shut down and a cruise is you know talk about having nowhere to go and being surrounded by a ton of people yeah so it's it's a very scary situation to be in right especially with uh in the uk you're probably getting people traveling from all over the place and you have that strain that's coming from africa so it's probably hitting europe it's going to hit europe first obviously because spain you get a lot of people from africa going into spain and europe so what my point is all right cruise liners are trying to adapt this way are we going to start seeing resorts uh adjust to this arenas if they want to open airlines airlines like yeah you're stuck now like we said if you want to go anywhere if you want to do anything you're going to need to be vaccinated yeah if not buy a yacht buy a plane right like get rich and go by an island i don't know but you know watch sports at home um that's that's my curiosity like as a business owner would you if you had a company of 100 200 people would you require vaccinations and like what kind of precautions do you put because i get you know we we all have our thoughts on covet and everything whatever it may be but the facts are still the facts it is contagious you know to some people to a percentage of population it's deadly um what do you do to adjust as a company how do you stay in business like i think it's a very difficult situation oh it's extremely difficult because if you look at i mean especially like a cruise line or somebody that their business requires some movie theaters anything that requires density of people where like if people are scared to get on your cruise line you're going to go out of business so you're going to do whatever you can to stay in business by requiring people to get vaccinated requiring employees to get vaccinated that they're going to do it to try to survive yeah it depends on your company depends on your where you're located because like you look at left versus right there's very stark differences between vaccinations and are they going to get one is it real is it not where it's gonna be very interesting to see how we adapt to this as like i mean the first hundred days like where do these hundred million vaccinations go out or even if we come closer or we exceed this next six to twelve months what is going to happen in what direction is it going to go there's so many variables and that's why it's like trying to project where you're going to be in 12 months is hard to do because you have this big question mark of what's going to happen right you just don't know so you play it almost day by day week by week of where things are going you have this other company so this article dollar general will pay workers to get covet 19 vaccines so their whole thing is you know we don't feel that our workers need to choose between getting vaccinated and working so they're pretty much going to be paying their workers you know it go get the vaccine go get all that stuff done and you're still going to be getting paid during that time however long that takes so i mean i i think again i think it's getting more and more difficult where a lot of companies that may not want to do that or may not want to put such a hard stipulation to you know your to this covet vaccine and everything like that they might start resulting to more working from home you know adjusting to more of that work from home uh mindset and everything which goes back to real estate union right back to where we were at the very beginning and it goes back to real estate where it's like people are still going to need bigger homes uh i was hearing um uh who was oh that kathy lady uh that has a party fatkey at her and she was talking about how big cities are thinking that they're being vacated very quickly um they're thinking that the people that are gonna be moving back is gonna be the youth younger people because they want that city life right the big city is good for people that like that city life more of a vibrant you know choices that's where like i don't go to home i'm home all night go to work and work all day home at night work they want options and places to go out to bars restaurants entertainment venues music they want all that stuff to actually go up they're saying that the younger people are the ones that are going to be more likely to move back into the cities and that the families that moved out into suburbia they're not because you know they moved out they got maybe a better school district a bigger home have a yard they're settling in and they have a family they're like uh we're not going to go back to cities so it's going to change the whole climate of real estate it's going to change a lot of these things as we see moving forward which is why we love rentals because when you have such low inventory and people can't if we can't buy or the houses look like dog that are available the only thing they have left is to rent you know what i mean you're an investor you renovated your home you have a beautiful home well i mean that's just part of uh i know the new administration's plan is to incentivize multi-family um there's i don't know what article it was that it was in um but they talked about of the difficulty if it's going to be is because they want to improve density they want to encourage density they want to encourage uh getting rid of all these old zoning laws that make it hamstring for density like we ran into downtown uh to where like they're pushing for density and you have two problems with that it's like one the covet aspect of it of like density allows things to transmit quicker so are they able to eradicate this uh this disease i don't know i'm not an epidemiologist so i can't where i saw lori hernandez put in here of like they can get rid of small packs and polio but not covet i don't know are they able to get rid of it maybe maybe not there's no telling um and the other aspect of it is by doing density and by increasing some of these zoning laws it's not appealing to the far left because those aren't green initiatives and for increasing density and increasing housing and getting rid of some zoning laws so it's gonna be very interesting where the administration goes as far as housing initiatives go because they can do all these things to incentivize buyers and people to move into these places but if the housing stock isn't there and builders can't build because of the lumber material prices of land and everything we've talked about where are they gonna go so it's gonna be interesting what happens in the next couple years oh it sure is and i wanted to touch on uh you know as we hit 9 30 close uh i wanted to talk about san antonio real estate so we have san antonio gets 46.7 million from federal government or rental assistant so attention landlords this is for you guys so we have they're getting 46 million dollars for rental assistant travis county here's what's crazy um that wasn't actually the article i was going to lead to it they got kind of swapped but it appears that this could extend the life of cities popular emergency housing assistant program for several months and by several months further in the article they just referred to about two months that that's how much assistance they can provide to tenants and homeowners are needing or keep seeking this assistance so they've already awarded 68 million to more than 26 thousand san antonio homes since the pandemic began um you have at least 90 percent of the income federal dollars must be used for direct financial assistance which includes rent rental arrears utilities and home energy costs so the city is making that requirement 90 of it which i think is great it's what we talk a lot about when they do you know these uh big corporate tax cuts and all these benefits and everything there needs to be stipulations where it's like hey all this benefit needs to be used for the purpose of making things better not for you to go and buy more bitcoin or tesla stock through robinhood right like you need to be uh using this money because if not like 26 000 san antonio homes i'm sure there's a lot more homes that need help you understand so if you're taking that money and you're not being held liable to use it for what you truly need that's you know you're hurting other people you're hurting people that actually need it so they say that income in dollars cost the city council to change up some of its funding plans for the program the council had been set to allocate 13.1 million to that to that assistant program on wednesday but it lowered the amount to 10 million so from 13 to 10 million sending 3 million to assist with building or rehabilitating affordable housing instead so i'm curious as to what that means you know 3 million to assist in building or rehabilitating affordable housing is this part of the opportunity zones like where's that money really going to what does that mean affordable housing like is there a price point that we're targeting rehabilitating what does that mean are homeowners getting that money are investors getting that money to do it well you get tax incentives and tax breaks and things like that to rehabilitate low-income housing and stuff like that because i know there's several apartment complexes downtown that are um they're new they were built in the last 10 years but you because of the breaks they got in order to do the development a certain percentage of the homes needed to be reserved for lower income families so that might be when they say they're giving three million dollars it's like hey we're taking three million dollars and we're passing it on to these these development projects and giving the tax incentives that way so they're keeping it but giving incentive another one so i'm not really giving it to somebody to say hey now go build this it's saying hey we're gonna subsidize these tax revenues losses with this extra 3 million bucks or whatever it may be oh and then uh on here we have your your uncle um trevino robert trevino oh boy he says until we're out of this pandemic and its effects i fear that any amount that we extend will not be enough for the eh a the home assistant program so you know he wants more money for the the tenants well we know his political agenda but is this enough you know what i mean like when we talk about real estate and investing and everything in attention landlords again this is what we talk about opportunities that are coming down the line is that there are landlords landlords out there that are burned out they are facing tenants that are not paying their mortgage they're not paying their rent they're that's a high distress situation because right now that's the biggest issue a lot of investors are having is who do you market to i mean there are still people marketing the foreclosures i'm like what foreclosures are you looking to pick up first of all in january there wasn't any foreclosures right they didn't allow homes to be foreclosed on and now you have all of these you know the extension of the eviction moratoriums and everything until september you have all these programs in place to stop that from happening why are you doing that yeah homeowners have no motivation to sell at all they're protected almost in every which way but landlords on the other hand especially you know landlords are not taking the time to maybe educate their tenants well it's one thing the landlords need to know these laws more than the tenants do because i mean it's the end of the day it's your pocketbook that's getting affected yeah you can evict them whenever you now apparently through march and now trying to push through september that you can victim and start doing getting a new tenant paying at that point right but what happens between now and then and there's no saying they won't just extend it again so you need to be educated in educating your tenants putting a pack together helping them walk through that because that money goes from landlord to tenant straight to you straight to your bank and into your pocketbook to sustain the housing so that's something that if you're a landlord in that situation you need to be educated and pushing your tenants and helping them get through that because you're helping them helping you in a situation yeah help me help you help me help you and then we have the the next article that one that i was going to read first was bayer county's 11 increase in home sales in 2020 surpass other major texas counties so you have a very interesting little article here where travis county saw a 3.2 percent increase harris county saw 6.7 percent increase and dallas saw four percent but san antonio saw in bayer county saw an 11 increase that's nuts i mean that is a huge growth and like we talked about before and the point that you made we made at the beginning you know the top 10 zip codes are under two months of inventory and over 200 grand with their values in san antonio which you know if you haven't already make sure you go to essayrealestatemarket.com to get the market updates slides zip codes all of that you can get it there you can download it right now um but san antonio is just hot like it is hot hot market well we talked to several people here in san antonio and they texas all the time and one of the people we talked with that how experiencing of what austin's having yeah where it's like prices even if houses don't appraise people are paying 40 grand more than what houses appraised for and that's in the initial contract that they're willing to do that that house goes on the market and then it's like 17 offers and half of them over asking price to where your entry-level person can't afford that they can't compete with that but in san antonio we still have a lot of inventory we still have a lot of housing that can be rehabilitated on our south side and west sides that can be rehabilitated and turned into quality housing stocks so that can be there but prices need to rise to make it affordable or profitable for an investor to do that so is that coming to san antonio i don't think it's going to get as bad because san antonio has a little more of a process to build housing and it's not as encumbersome from the city because i've talked to developers in austin they're like they're developing an austin's a nightmare like they blame us for making prices rise so the city is very unfriendly to developers and builders when it comes to permits and regulations letting things go so san antonio can bring more housing on the market and we have a housing stock that is much older that can be renovated so i don't think it's going to get as bad here but i mean it is extremely tight and of the houses that do qualify so it takes time for housing to appreciate to a level that somebody can't afford to buy it renovate it and put it on the housing market and to turn a profit to make it worth their time to do that but it has to slowly spread down that way because you have to have that velocity of housing to make those prices go up so if inventory doesn't rise it causes problems as well as far as well i think this is what and what you and i have been speaking about is other opportunities in san antonio and other markets when they're this high you got to start looking at where's affordability in your market right so here in san antonio we're seeing affordability is still like on the west side on the west side of uh downtown those areas those houses you know barely moving all that much as far as home values go so that might be that next market that gets hit for rising home prices just like they knew the annuity got hit you know seven eight years ago and then denver heights and then all the east side of downtown they got hit they were homes that they were selling for 50 grand and now those houses are selling for 250 you know and everything 300 it's crazy and if they need a lot of work they're selling them for 170.

You know what i'm saying so it's you're starting to see that because people keep going to affordability and we we did have a comment from uh tehran uh sorry if i messed up your name isn't that how the first bubble started so the first bubble started more because of the terrible loans that they were giving which or right now it seems like they're not doing that so much of the terrible loans they're they're still making sure that you know at least you have good credit your job matters all of these things i don't know i don't know well that's just something that were i i saw part of one of those previous articles i talked about one of the things they want to do to raise or make it more affordable for people to get into housing is they want to lower the fha insurance premiums to make it a little cheaper for people to get in because the programming has been so successful and has turned a profit and is doing what it was intended to do better than what they intended they're thinking the administrator might look administration might look at that and say hey we can afford to cut premiums now because we have all this extra money and it has been so successful so as they start rolling those things back if these new loan products start coming out to where it's like hey we the drive by appraisals that we talked about or the way they verify income now start changing that can start causing problems later on down the road or the lending against real estate and it all really hinges on the person's ability to pay yeah so that is the portion that as we get close to wrapping up um laurie says that's exactly what happened in california austin is a mini california now it sure is um what are some strategies like what let's look at you know you're a real estate investor what are you doing right now you're let's kind of go over if you're a wholesaler how are you adapting to this market shift how are you adapting to you're a wholesaler i mean if you're a wholesaler it's the same thing that we've always talked about i would keep doing is like understanding where the market is and understanding why you're making money right you need to be educated it's not just i get a low price i blast it to a list and i get a higher price and i make that spreads like who is your buyer pool and why are they buying because we constantly see people saying oh i'm updating my buyers list all these buyers are greeting they suck it's like no your deals suck and that's why you're wanting to find more ignorant and less educated people to buy these properties and sell them too but that's not how you invest in real estate or because wholesaling isn't investing you're just moving paper you need to understand that to where that would be the biggest thing i was focused on as a wholesaler is like who am i selling these to and why are they buying to where you need to be able to adapt in a shift because those people that you're trying to find that are just less educated than the rest of your buyer pool like those people are being the first ones to go away when properties don't start working out because we've had a sale bring us a retail deal by the time you got done renovating anything you were paying more than what it was worth on the open market it's like that's not a wholesale deal like at all like it's not a deal right off the mls for cheaper price than that well so that kind of leads to what we went back to earlier about um hoteling and stuff i believe if you're a wholesaler you need to get your real estate license you you really do really having your real estate license just opens up your stream of income tremendously and you have so many more ways to monetize because you're doing marketing you're generating leads you get a house like this wholesaler brought to us and we looked at it's like yeah it's below market value but not by much you understand and like you said even even just buying it as is and like keeping it as is you were already well over the 80 percent uh equity that you needed to be just so for it's a cash flow or to do anything with the damn so it's like why don't you list it oh because i don't have my license it's your license that was a 250 000 home i think it was that's a hell of a commission 7 500 commission right there in this market and please realtors real estate agents if you're listening don't take offense you don't need to be that good you just need to have a license to be able to put the house on the market because of the massive buyer demand exactly and the lack of inventory there's so much buyer demand that as all you need to do is let them know that the house is for sale pretty much yeah and that's what the mls does lets people know that the houses are for sale it's a huge avenue that i think people are and a lot of whole sellers are hurting on and then if we look at regulations and everything we've seen it in some states where they're trying to regulate wholesaling they want wholesalers to be licensed they want people you know and in the board of realtor you believe that you got to believe they're pushing that right oh yeah oh yeah for sure because the brokers get commissions and brokers pay boards fees you have board fees more agents and all that so and then the same thing i i met um an investor lady uh last week i would say at her at an investment property and we were just talking about she was asking you know what can she do with this new home she picked up and everything she was running comps using redfin and my thing is like in texas right you know a nondisclosure state and all of this like you got to be careful because those platforms they don't have all the data that you need so she puts her house on the market and she's not understanding why it's not selling and i was like well you need to have access to the mls or i mean especially you just have an agent like ask somebody run comps for you help them out or like build into like your pricing of having an agent list the property for you yeah or however it is because i mean i think they were using like a low fee broker that doesn't really do anything but put on the mls for you you have to do it flat fee broker that all you do is they just put on the mls for you you have to do everything beyond that you price it you show it you know because then she said i told her the same thing i was like get an agent somebody that you can work with or like that and she says well i have some friends our agents and i was like but you also got to make sure that they're not just an agent but they're also kind of like an investor because they got to be able to run the when you're running comps you're not running to just say okay what's the highest value in this neighborhood it's this all right so that's what i'm going to target no you need to look at it from an investor's point of view of saying all right what do i need to do to this house to get it to that value you understand what kind of updates do i need to do and then if i don't want to do those level updates then what's the next price point that i can target right or if i target that price point what can i do to my house to make it stand out from those houses that's not going to cost me so all of this stuff comes from an investor's mentality not from a realtor's mentality and this is not a knock on realtors at all it's just that you know realtors list properties and all of that but they don't they don't think about you know areas of investing and stuff like that only an investor knows how to do these tricks and stuff to get the most money so having a license i mean it's just right now i mean even if you're even if you're a flipper too i think having seen your own properties every time we list a property i save us three percent yeah on a three hundred thousand dollar house it's nine grand that we get to drop to our bottom line by me being able to list it so like if if you're not the one you need to have somebody on your team that lists at a less of a fee because you're giving them so much business where like you have to have that person that's willing to list especially in today with prices going the way they are like you got to start cutting fees and be able to trying to make more money from somewhere else and then you also have like i said other streams of income you have you know referrals how many people do we have reaching out to us are coming from out of state they want to pick up rentals and stuff like that we don't represent buyers because pain in the ass but we have agents that do so we refer them out to those agents they close on something they give us a kickback for that you understand that's just kind of what they call it mailbox money or whatever that's just a little extra scratch that keeps coming in you know what i mean so you get a little revenue here a little revenue there so i think if you're a wholesaler or a flipper like you're saying you need to be able to increase your streams of income and having a license or having somebody on your team with a license is so crucial to that effect you know what i mean and then i mean i've been kind of thinking about this but i haven't spent too much time but you have the rich dad cash flow quadrant right so you have the e the s the b and the i and i was thinking about it and i was like you know real estate we kind of have that too we have wholesaling and flipping on the left side of the quadrant and then buy and hold and maybe notes and stuff like that on the right side yeah you know what i mean because it's like wholesaling and flipping i'm sorry is not investing you're speculating on all those things you're you're even hoteling and all that you're speculating you're you're trying to make that quick cash that quick return and it's all based on speculation it's not based on actual investing you know but investing is when you're putting real capital you're holding you're being strategic you're planning out over the course of a year or two what your cash flow is what your expenses are what you know your appreciation might be where's other avenues that you can increase profit like i feel it requires more of uh you know an investor mentality to do that versus speculate on you know i can buy for this low hopefully i keep my repairs lower and i can sell it and make this profit rinse and repeat yeah so i'm gonna look on a scale of like what it takes to be investor wholesale wholesaling isn't one at all like on a scale of one to ten i guess you could like you got wholesaling on close to zero you got flipping because it does take some knowledge you are taking something undervalued putting money and capital into it reinvesting it and turning a profit so you are in a quote investing in something but then when it comes to buy and hold and lending it's like that is a completely different financial asset and mentality that you need uh to have than if you're just flipping on definitely more so i agree and then and then also flipping i think uh going back to the model that we talked about last week check out last week's episode because we definitely talked we cover a lot of these points in more detail but the two-year flip if you're a flipper and you have access to funds or you can refinance or something like that you can you should start doing a two-year flip where or one-year flip whatever makes sense where you're buying a property and maybe you can flip it now and make uh in san antonio numbers i don't know other cities but let's say in san antonio maybe you can make 20 25 grand well if you can sell cash flow out of that property hold on to it because the remember we have very low inventory so prices until that inventory until that demand and supply kind of you know balance out not completely balanced out but until we start going above uh two uh two months of inventory or three months of inventory that we start hitting those numbers like we're going to keep getting appreciation you understand so you're letting go of a property that right now maybe is making you 20 but in a year from now it can make you 40 45 you know maybe more depending on where you are depending on how crazy the market got you understand like it's a much smarter investment and then you have long-term capital gains tax at that point which might be lower who knows um we don't know how they're going to do with capital gains tax but i think it makes for a much profitable much more much less riskier investment for yourself and for your business so there's some tips um hope you guys uh you know like everything we're here to try to provide you value our perspective our ideas what we're seeing in the market what we're seeing happening the even the pivots that we're making and you know if you haven't already hit the bell below uh next to the subscribe button because we are going to be dropping a lot of videos that we've been recording in depth on very basic fundamentals of real estate like we're calling it the what is real estate series and if we're going to cover every term out there how you use everything you know option money escrow you know every contract assignment your entry level your starting point where you gotta be wherever it is and a lot of people need it because they have a lot of misconceptions on a lot of these terms and we're also dropping some you know videos very quickly on tactics and things that we're implementing right now because like i said at the beginning things are changing so fast things are moving so quick one of the things crazy about real estate i always say is like it's a fast industry but it's also very slow too like you look at appreciation your way like we always say if you want to get there faster you need to move slower in real estate so everyone's like quick money but it's also things like you got to slow down and understand what the industry really is before you start making that money because you'll get bad habits up front that are going to damage your long-term reputation and potential because you got too eager and moved too quick well and like we said you know real estate isn't going anywhere people still need a roof over the head they still need somewhere to live it's not going anywhere don't worry you know you got time don't rush to get into it be smart be patient you know but be educated understand what it is that you're doing and if you don't know find somebody that does partner with them work with them uh pick pick on them you know pick their brains give them some form of value for them to teach you we're always doing that we're always looking for people that we can sit down with talk we're bringing them we're looking at a project that's way out of our wheelhouse and we brought somebody that we know could handle something like that we're like hey here's a deal we're looking at it we want to do this we can help with funding managing we just we're not sure what to do here do you want a partner you understand we're fine giving profits away because we want the lessons so we can keep doing it ourselves right so be willing to do that that investment in yourself and your business by giving that kind of value away so hope you guys are enjoying this there's a lot more coming down the line make sure you subscribe and hit that bell and if for whatever reason we do get censored and shut down we will continue this on our website and investorsjourney.com so make sure you're subscribed to our newsletter because in the case this happens we won't stop so just a little plug out there so hope you guys are enjoying it again if you found any value give us a thumbs up matters a lot it helps us out tremendously to reach more people so please give us that little thumbs up and thank you for watching and we will catch you all

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