Everything You Know About Debt Is Wrong - Dub Washington - David Shands

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Speaker B: There are four types of debt that most people misinterpret. Whenever we are talking about the overall

Speaker C: pool of debt, give me these four types of debt.

Speaker B: We have survival debt, we have lifestyle debt, we have strategic debt, and then we have leveraged debt. Most people incorporate debt as being bad, but it's all based on how you do it. In my opinion, debt is neutral. It's the structure behind it to determine whether you're going to get a negative input it or a positive input behind it. If you have $5 million cash or a million dollars cash and then you go and put that into an asset, hopefully not a liability, you no longer have any spending power, but credit is unlimited. Dave, I know you are not a fan of debt.

Speaker C: I'm, um, not a big fan of debt these days.

Speaker B: In debt.

Speaker C: The four, the four things you described though were very interesting though.

Speaker D: Mhm.

Speaker C: Mm. Because there's reasons that people use that. Like for instance, my man, um, uh, ah, ah. What's. What's my man's name? Oh, ah, I forgot. Um, I'll go to like Terrica. Right? Terrica is in debt, but she owns so much real estate for her to like pay it all off, she probably need a hundred million dollars. So. You know what I mean? I don't know. I don't know if it's that extreme. But she's leveraging debt, right? She makes a bunch of money by leveraging it. And the more she talks to me, the more I start to understand I'm not 100% there yet, but I understand the debt. And somebody like Donald Trump, who's, uh, up to his eyeballs in debt, but he got to become that billionaire status because he was there and he's, he's the type of person that will leverage the debt. The hotel doesn't do well, closes, goes to bankruptcy. Cool. And do it again. So I understand there's something to this debt Thing. So I'm trying to not be too hard, um, on debt.

Speaker D: Yeah.

Speaker B: It's is everything in life is perspective.

Speaker C: Yeah.

Speaker B: And we know a lot of millionaires. Right. But name a billionaire that didn't use debt to build the empire.

Speaker C: That's good.

Speaker B: I don't think you can name one. So. And I think the common perception around, like, debt is like, you got to pay it back.

Speaker C: Well, of course.

Speaker B: You see what I'm saying? That's like with anything in life, like, you're going to pay for something. So I, um, think it's just developing a different perspective pertaining to cash versus credit. Because people gonna say credit is debt, whatever. If it's not your money, then let's just say that it's debt in this sense. But if you have $5 million cash or a million dollars cash, and then you go and put that into an asset, hopefully not a liability.

Speaker C: Yep.

Speaker B: You no longer have any spending power, but credit is unlimited.

Speaker C: I like that. So give me these four types of debt. Well, order four types of debt that we just described.

Speaker B: We have survival debt, we have lifestyle debt, we have strategic debt, and then we have leverage debt.

Speaker C: Got it. Survival debt. Let's, let's talk about that.

Speaker B: That's where most people are at. We are going to get debt to

Speaker D: fund

Speaker B: how to eat, what we're going to pay. For that we need autos, mortgages, uh, a multitude of things. And while we use debt to survive, we use debt to survive. But while we here. Why do you think that Bill ended the partnership with Wells Fargo? Wells Fargo made a major bet on that built car. And for all of my real estate investors, you know that you could actually use a credit card that had an account number and routing number attached to it. And then people were going to use this credit card to pay their mortgage. And then they, Wells Fargo, because they was in partnership with Bill, had the highest default that they have ever had due to this one individual product. So they seen the opportunity and it didn't go the way that they thought it was. So in their eyes, it was strategic debt. We're going to take on this partnership and then we're going to allow consumers to pay their bill with this credit card. But what happened was people was like, oh, I don't lose my house, but I can default on this credit card and I can get the credit card removed from my credit, but I still make my mortgage payment up, uh, to my, let's just say my limit on the built card. So they had, they ended that partnership because it was like they Lost billions with a. Wow.

Speaker C: Yeah. I never even heard about. I didn't know what a built card was. What was the purpose of the built card? I don't understand.

Speaker B: So you could pay rent with your credit card. So if you get Approved for a $30,000 card, you could then connect your mortgage payments or your rent to come out directly and use the bill card to do it. And they didn't charge you an extra cash advance fee. Oh, you still can. But they partner. I forget the bank that they partner with. But yeah.

Speaker C: I wonder why the defaults are so high though.

Speaker B: Because the economy got harder and people were once again survival debt. They would say, hey, I'm going to put this on a credit card and then I'll just pay it off by the time the next one roll around. And then so many different things come up in between time. And then once you get one month behind on your mortgage, especially if you barely can make it, you in trouble.

Speaker C: Oh, that's a fact. So before we talk about survival debt, I want to go on to the second one, which is lifestyle debt.

Speaker D: Mhm.

Speaker C: Which is even more dangerous because a lot of people, it's not. I mean, it's all dangerous. But um, this is the, the people who use credit to just furnish a lifestyle. Maybe you got a good job, maybe you got some money coming in so you can pay it off, but you're using credit and not pay it off,

Speaker B: but pay the minimum.

Speaker C: The minimum.

Speaker B: Mhm.

Speaker C: Which is dangerous.

Speaker B: Very dangerous. That's where most people are at though.

Speaker C: Yeah. Yeah. I want to furnish my house, make it look nice. It's not survival stuff, but I'm, I'm buying toys to enjoy this lifestyle. I go out to eat and I just use a credit card. Armani Survival. Have you been more familiar with or had a closer relationship with survival debt or lifestyle debt?

Speaker D: Um, I would say those cards that I defaulted on in the past were survival. It was the pandemic. Like I have more decent credit. I remember, I think quicksilver, like I didn't ask for a certain limit. I just applied. I got approved because I already had a secure card. They said like 2000. I was like, well, at that time I only got a couple days left to pay my phone bill. We hungry. Light bill is next week. I don't know what I was about to do. So it's kind of like that started to be like. And then it's like, oh, you know, I'll eventually get paid and pay some more. And then what starts to get you is you start doing the minimum, like they tell you, because that's what's going to be on all the emails. Minimum $25. Minimum $25. All this. And then another month goes by and it's okay, it's 100. Then it's kind of like, I think at one point they wanted like 200amonth. And at the time I. That's my whole car note. So then starts to be late and then it starts to just roll over. Because then once you kind of get like, it's a little too much. That's when they got you. Because if you can't pay that, you only pay a hundred. Next month is like two something, something. And then they start messing you. Okay, you're about to close. And then it's kind of like a. I mean, it's like, I don't necessarily regret it because now I'm in a different spot where like, I used the card, I paid it off. It has a purpose. But in that time it was kind of like, I don't know, they just have you. What I was about to do, like, I gotta. Like, I think my phone bill was on it for some years and you kind of just pay that. But yeah, it can get scary.

Speaker B: A temporary crisis that people result to. And listen, I know many people sometimes may have to revert to this, like, let's just say particular type of debt because, like, the kids got to eat.

Speaker C: Yeah.

Speaker B: If I have a $50,000 credit card and the business is not making any money and I don't have any savings, that's what I got the credit card for.

Speaker C: Yeah, for sure. You got to get to work, so you need gas. What you going to do? Like use that credit card?

Speaker B: You have to.

Speaker C: Dang. But it's, it's, it's definitely going to bite you in the butt later.

Speaker B: You're going to pay 2, 3x what you actually purchase or use it for.

Speaker C: And then we start talking about survival. I think the only fix is to make more. Well, one is to make more money, but two, got to change your habits too, right? Oh, for sure.

Speaker B: Like, but, but imagine humans changing habits. That's one of the hardest things that's a fact to do ever in humanity is like changing our habits. And then you go to financial habits. We'll change health habits way before we change financial habits.

Speaker C: Why is it so difficult, bro? Uh, to change out? Uh, well, yeah. Why is it so difficult to change our financial habits, especially when we know it's hurting us?

Speaker B: But I think most of us come from a place Dave to where? My grandma used to tell me this all the time. You can't miss nothing you ain't never had. Um, if we are accustomed to living a certain lifestyle and we just accustomed to barely making it, I say it all the time. I've been broke longer than I've had access to capital.

Speaker C: Yeah.

Speaker B: I mean, I don't want to block none of my blessings, but if I had to go back to eating Hamburger Helper lasagna, I mean, that's what we got to do.

Speaker C: Yeah. Yeah.

Speaker B: My stomach going to be messed up until it get back acclimated with it. But I mean we, we accustomed or we've been used to barely making it so long. Just don't seem like a big deal to most of us.

Speaker C: Yeah, you get a lot of people funding, what percentage of people? And uh, you can kind of feel it maybe that they are getting the funding or even applying for the funding

Speaker B: to survive, man, probably. They come in saying all of the right things, of course, but I can kind of sense based on like their response when I'm talking to them, M. I would probably say let's just do like 30%. One out of three survival. I need it. Because I was like, listen, we can get you access to 150, 000 once we structure the profile. Let's wait six months. Let's go and build these relationships with the banks and hey, I need it next week. What you need it for? An investment. Like what do you need it for that you can't wait? I need it though. They don't give me a reason. That's whenever I'm like,

Speaker C: I mean, you still have an obligation to give them the funding because you're gonna get it somewhere else.

Speaker B: That's true.

Speaker C: And maybe the person they get it from isn't at least going to educate them in a way. You know what I mean?

Speaker B: That's tough, bro.

Speaker C: Uh, because there's, that's the cycle. Because you can't get out. You can't get out of that. You know what I mean? You're surviving, so you need some money. It says something in that movie. What was that movie, uh, with Kiki Palmer and Sza. What was that movie? One of them days. So it was a part in there where they go into the buy hair. Not buyer pay hair. It was the, um, auto loan. Yeah. Like a payday loan. Yeah. So Katt Williams, he is a character in there, he said something funny. He said, if you don't have it this week, you're not going to have it next Week. And that's real. And we spent our lives trying to pay, uh, for things from last week. And we don't have it today because we're in debt last week. But we need some more money now to take care of now. And then next week comes and we're not going to have the money and then the juice starts to roll and eventually we are in such a deep hole we cannot get out.

Speaker B: You're struggling with access to capital and that's one of the things that we do in the reinvented credit masteries. We teach you how to structure your profile, build your profile and then going to the correct institution. Because bank auditing is the process of knowing which strategic strategy to obtain funding the best is going to suit you. Most people go for business lines of credit without starting at business credit cards or personal lines of credit before starting with personal credit cards. But you don't know what you don't know. So what I have curated is a list of modules to take you from no credit at all, repairing it and rebuilding it, to getting anywhere upwards of your first 100 to 150,000 in funding. The link will be in the description and I know you're joining the episode and let's eat. Yeah, it happens that way. And as we move up the ladder, and I would say that is, is still better than survival because you don't need the debt to survive. Now we get to lifestyle.

Speaker C: Yeah.

Speaker B: Which depending on the conversation, it could be more dangerous because you don't necessarily need it to live. But then you elevate your lifestyle due to access to capital. I can't tell you the amount of people that I have got access to capital. Next week they got the ap. You like, bro, like, hold up.

Speaker C: Come on, come on, bro.

Speaker B: You went, you, you got a. I don't even have one of them.

Speaker C: You feel me?

Speaker B: You got the ap, they got the cars, they got the penthouse. They have all of these things. So now you don't realize how much this is going to cost you.

Speaker C: Yeah.

Speaker B: So it's the lifestyle trap.

Speaker C: Here's the challenge, though, for the people that, like, get lifestyle debt. It's almost, we're in the space at the moment where I can pay for it. You might, bro. You might look at a, uh, a Lambo and I don't know how, um, much is a Lambo.

Speaker B: Like two.

Speaker C: Two.

Speaker B: Some I want to say, like, how

Speaker C: much is a cardinal on a Lambo? Three.

Speaker B: Three to 4,000.

Speaker C: I'm making $50,000 a month. I could pay 4,000, no problem.

Speaker B: Yeah.

Speaker C: The problem is as you start accumulating all this debt that you can pay for, one day you might not be able to pay for it. Business gets slow, there's hills and valleys. But I, for me, when I get into debt, like I'll buy a house or I'll buy a car, you know, I have car, house, stuff like that. I plan for worst case scenario. And I, I don't buy based off of where I'm at right now. I buy stuff based on where I could be if God take all the stuff away. Worst I tell everybody, bro, my, my mortgage, my mortgage comes out like $2200 a month. That's better than apartment. Mhm. Okay. You pay about that. My mortgage, 2200. Worst case scenario. I, I'm, I could doordash.

Speaker D: Yeah. Like with the fees and everything. Mine comes about 2,000, like 80 some dollars. So that's crazy that like a house is around.

Speaker B: Mm.

Speaker D: But a one bedroom apartment is.

Speaker C: Here's what's crazy. So we bought our house for about $250,000 in 2019. The mortgage started out at uh, like $1700 with inflation, taxes kept going up and we just did a uh, homestead exemption too. I don't even know what that means. But I do know our mortgage is going to be lower because it's like taking care of the taxes. But it, I was at 1750 bro, a few years ago and it just got up to 2200. Now when I got that mortgage, I said, oh, 1750, if I listen, I can go knock on doors and sell basketball cards and make $1,500 and my home, my family will have a roof to live under. But I almost got caught in the trap because after 2019 I started making more money. 2020, 2021, 2022 started making more money and guess what? Me and my wife started doing house shopping. House shopping for sure. By God's grace, it didn't work out because we was going to get another house for sure. But I started building out this and this is where all my money was going. I was like uh, I ain't got the money to do this building and the household. Let's just wait on the house and we'll get something later. Oh my gosh. I would be right now at like a 4000$. At least, at least if I wasn't being guided spiritually, bro. For real, for real. But because that's why, But I understand the lifestyle debt.

Speaker B: Mhm.

Speaker C: Because it's based on where we're at right now. I'm making enough Money to pay for it.

Speaker B: But that's, you gotta man. Me and my wife had this conversation the other day and um, she gonna kill me for saying this but I said I don't like the comments that we make about our people. As far as she say we wear and look how rich we are. And I say I understand to a certain extent what you're saying but to some people who've never had anything, I'm under the perception that you have to get certain vices out of your, you have to because if you wait too long you may not never experience. And uh, some people don't want to experience a lavish things. But for me, whenever entrepreneurs.

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Speaker B: We go to hotels primarily and of course you know, everything I get is strategic. But I'm shopping from highest to lowest. Never. We're trying to find something to go highest to lowest with. Uh, Marriott of course, you know, I know, you know, I got family that works there but I always want best experience and then I work my way down. My wife is the complete opposite. I mean she don't want no roach motel, but she like wait, like why would we pay that amount whenever it's the same thing? We're not going to spend that much time in the hotel room anyway. I'm like, I like whenever we pull up and we don't have to touch doorknobs. Yeah, you see what I'm small things. So the lifestyle part, as long as you are not over exerting yourself into the consumption of it. I think you're gonna be okay. But you need to experience certain things. You, you have to, Dave, you cannot be financially frugal to where you just sit on your hands and you say, I'm gonna eat beef hamburgers every day. I don't, I don't want to go and spend money at this fancy restaurant. You can't live life like that because you, you, you are shortchanging yourself of an abundant life that was meant for you.

Speaker C: Yeah. Yeah. What's up, Armani?

Speaker D: I would say, how would someone go from the I'm just gonna eat beef hamburgers mentality to kind of what you just said about like not touching door or sword. I'll never search high to low. So how is, what, uh, would you advice would you give for someone trying to get from that different mindset? Not saying make more money right away, but just, you know, the mindset matters

Speaker B: is how you see yourself. Because if my, one of my first mentors told me, said, dub, uh, you got so much talent, but you don't carry yourself as if you are already a multi million dollar brand. He said, what I need you to do is start conducting as if you running a multi million dollar company. And it literally changed the way that I seen myself. Not how I went and spent money, but just how I treated myself in the form of places that I go to, how I, um, present myself, um, how I communicate. It's a multitude of different things of how you can literally become rich in your mind way before you're rich in your bank account. And it's just you don't really got to spend money for certain things.

Speaker A: Yeah.

Speaker C: I think even to Armani's question, some people need to eat hamburgers and noodles right now because you may be in such a bad situation. The lifestyle debt is really dangerous because the people who are in that type of debt have money right now. So it's the people that in a situation, they're like, yo, I'm going to go get an expense. I'm going to do an expensive trip because I have the money, but I put it on a credit card. It's too often, you know what I mean? You're spending the money too often. Not even spending the money, but you're going into debt too often because of a season right now. You know what I mean? And you should, like, plan it. When you have money, you make really emotional decisions and you don't think, you see, I have it. I got this type of money coming in and when you're up, bro, uh, the decision's like, yo, I'll just do it. I'll take care of it. No problem. But we can't see past today. We need to see the future, bro.

Speaker B: That's good. Um, shout out to my, uh, one of my mentors, um, Marcus Y roa. He say, all buying is emotional. But he said, dub, your problem is you're too logical. You're telling that they have a problem, and it's logical that they have the problem. But people don't want to hear that. They are buying based off of emotions. And it goes right into what you said. It's like, we see the money, we have the money, and it's like, bro, I gotta get this or that.

Speaker C: What I need to do, bro, I need to sell some of the stuff that I have. Let's just sell. If you have a, um, a watch. I have a watch that I don't. I've, like, I'm embarrassed. I probably got like two watches that I don't even wear. I need to just sell them, bro. Uh, because they're just sitting there. Even if I, uh, Even if I take a loss on them, I just need to get them away from me, bro. Uh, because it just represents a bad decision because the jeweler just called and said, yo, we got this new watch. I'm like, I'm gonna come get it. It was emotional and it was dumb, but I always wanted. You know, I wanted a Rolex, bro. Let me just get the Rolex. And I have this one. I would never sell this one because. Let me not say never, because you never know what's planned for the future.

Speaker B: Chocolate daisy.

Speaker C: I like this joint, bro. I'm. I'm holding on to this, but I got some stuff in my crib where I just. I spent way too much money on. But the good news is I didn't go into debt to buy it.

Speaker B: That's good.

Speaker C: You know what I mean? So for the people that are going into the debt because they don't have the money right now, that's where it gets bad.

Speaker B: Yeah.

Speaker C: I'm saying. So the next debt was.

Speaker B: The next one was strategic debt. And that is where you not in survival, you're not in lifestyle. Now. You look at debt differently. Where you can say, hm, if I can go and get access to 50, 100, I plan to do this with that.

Speaker C: Yeah.

Speaker B: And that's where the. I would say where the plant breaks ground and starts to grow m. Because everything else is underground. You're like, oh, man, I'm trying to get it, but then this is the moment that it starts to. You get a little bit of sunlight and you start to grow from there. I think that's where I would say 80 to 90% of the people are at what you think, Dave?

Speaker C: Yeah, well, I wouldn't say 80. I say it becomes. The numbers become a lot smaller. Who are intentionally making a decision to go into strategic debt saying, I'm going to buy this house and I'm going to fix it up. So I'm going to go into debt to get the money to fix it up, because I'm going to sell it and, and I only have this debt for a period of time and then I'll pay it off and I have my, my extra money or I'm paying. So right now I'm going into strategic debt with Podcast Summit. So I went, got a. I set up a company for Podcast Summit and I got a credit card for that particular company. I'm using that credit card to run ads. So I'm strategically using this debt. I'm going into debt, holding onto my cash, using the card to pay. I'm going to pay. I typically pay my cards off, but in this scenario, uh, like last month I paid the whole statement balance, so there's no interest. But I don't see anything wrong with. If I'm going to have, I don't know, $600 in interest, I can use that. I can pay that $600 and still keep the juice flowing so that I can strategically use the debt. Because after the event, I should be in profit mode. I could pay that stuff off that strategic debt. I think very few people see it that way. Yeah.

Speaker B: And also, like, we ought to understand the industry that we're in. Some people don't like interest at all. Yeah. But this is my take on it. If you're making more profit than interest, the deal makes sense.

Speaker C: Yes.

Speaker B: If you are paying, let's just say something outrageously high, which is 40% APR. Right. If you can get a loan for 40% APR, which is very much predatory, I gotta say that. But if you can make 65% on your capital, you just made a 25% ROI and you built with the institution, so you're not going. Most people are not going to be in a position where you can say, well, I only like 0% capital. Like my, I'm. I'm in that position to where, like, if it's going to cost me money, uh, or interest, I don't really want to do it because we built our Credit. And we understand banking on another level. So I'll go and get a 0% business credit card that does not report to the SBFE. And I know that I could truly use this and no bank can see it.

Speaker C: Hmm. Amex don't really do zero percent like that. Huh huh.

Speaker B: They only have two cards. So man, this is um, this is getting into a whole different thing. But I want to drop this gym on people. We got to know whenever we're going for certain business credit cards, which business credit cards are going to report to the business credit bureaus. These are called like what they call ghost cards. We can use it and max them out and then you're not, it's not reflected. American Express only reports negative activity. So certain banks will report utilization your balance and then other ones will report only negative activity. But on American Express side, uh, they only have 2 0% business credit cards. And we talked about this on the earlier episode is like the psychology of lending. Those 2 0% interest credit cards, the average limit that you're going to get on it is 5,000.

Speaker C: I, uh, see.

Speaker B: But the credit cards, such as the Amazon, such as the Delta, they'll give you 30 and 40,000. Why? Because they trap you into the interest. Trap.

Speaker C: Yeah.

Speaker B: So you got to know how to apply. Most people don't understand that. They don't know how to apply for credit cards with each individual institution.

Speaker C: Got it.

Speaker B: So that falls into the strategic debt. Like if I'm going to go to American Express, I'm going to know to get a co branded credit card and then get a 0% interest credit card and then move the limit over from the co branded to the 0% and then I'm still getting the same amount of money, but it's free money.

Speaker C: Got it. All right, that makes sense. That makes sense. And real quick, just so I'm, I'm clear, zero percent interest. If I put $30,000 on a zero percent interest card, the minimum payment due comes off the balance. It's not interest.

Speaker B: Correct. And there's only going to be 1%. So if you have a $30,000 balance, that minimum payment because no interest is attached to, is going to be $300. So what you do is you say, hey, $30,000 credit card, I want to make the minimum balance for 12 months to where I don't have to worry about it. We're going to put $3,600 into a checking account and it's going to draw from that checking account. And then, you know, on month 13, if you want to avoid interest, to close, uh, to pay off the remaining balance, which would be about 26,000 or something like that.

Speaker C: Got it, Got it. Okay. Okay. Nah, that's fire, bro.

Speaker B: Actually servicing the debt.

Speaker C: Yeah, I like that. Um, so if you're using debt to survive, I understand if you're using debt to fund your lifestyle, you're a clown. If you're using debt strategically, you're smart. And if you're using debt, uh, the fourth stage as leverage, you're on your way to being a billionaire for sure. And I start. I understand that, like we were talking about, uh, Tierrica, uh, earlier, she has millions of dollars in debt, right? But she leverages it for the asset that spits off income. Where I'm, um, I'm constantly. This isn't like a strategic play where I'm using debt. This is. I, I got this debt specifically to produce this income, which makes sense. So I was talking to you about this other property that I'm looking at getting, and it's not, it's not, it's. It's inexpensive, not expensive, but they want like 125. 125,000. And I'm thinking, like, dang, I could just. I probably have to put down 30%. 25, 30%. But if I have this other building and it's a studio, it will produce more money than the debt that I have on it. So if my note is $600 on, I don't know, 90 something thousand, then even if I subdivided it into like two other studios, even with me not operating it, where. Let's just say I can charge $1,200 for this side, $1,200 for that side. I make 2400. Only 600. Plus my ho would be like 200. So 800 going out, 2,400 coming in. I'm leveraging the debt for sure. That's how billionaires operate, right?

Speaker B: Absolutely. Well, I'm not a billionaire, so I assume that's how we got it.

Speaker C: We got us, we got it.

Speaker B: We got a couple more zeros.

Speaker C: Yeah, for sure. Um, how do you leverage debt? Are you at that point where you're leveraging debt right now for sure?

Speaker B: So I, I leverage debt multiple ways. Um, one of the ways I do it is, like I say, building multiple banking relationships. But the primary one is, for me, Section 8 real estate, like that's my industry that I branched out from, from coaching. But you also could leverage debt this way. This is another gym for the viewers that's watching. If you have what they call a Brokerage account. You're investing into S and P or V, I, X, multitude of things. Right. You know that you can borrow against your portfolio, also known as a margin loan. So for me, like I would say you should be cash poor and credit heavy.

Speaker C: Yeah.

Speaker B: You have more leverage with debt than you do with cash. So um, those are the primary ones that I do outside of building banking relationships. Section 8 real estate, um, crypto a little bit. But I learned my lesson with these stock options. I'm done with that. So I just put it into the long term brokerage account and just let it build that way. But commercial real estate is coming soon. Uh, it's just time to grow. But as far as, for me, like those are my arenas. I'm not going to say that I'll do this, this, this, this, this, but coaching and section eight real estate, that's my two.

Speaker C: Section eight, I mean that's commercial.

Speaker B: No, no.

Speaker C: Well, it depends on how many units.

Speaker B: Right, right, right.

Speaker C: Yeah, got you. Okay. Okay. So, okay, what is the highest number of units? Or do you just buy single families?

Speaker B: So me, um, this is my strategy and it's going to be different. I'm in the Georgia market. I um, know the real estate people gonna be like, dude, why you do this? So I gotta explain the background. Me and my wife do not have time to go back and forth with contractors and fixing this. 250 to 260 is my ceiling. We do a specific zip code, 30331. And then we know the payout for that section eight uh, chart is going to be up to 2850 if we can get it at around 1600amonth. We're now once again cash flow and it's going to vary. Sometimes you may not get to 2850 if you don't have all of the um, uh, different type of stoves and you know, energy saver things. So the lowest that you're going to get is 2050. So if I can get 4 to 500 profit per unit. I'm an equity investor, not cash flow. I got three boys, so I know the government is paying for them to have an asset in 30 years or less.

Speaker C: I love it.

Speaker B: So for me, and I know everybody like, dude, that's too much. The numbers don't make sense for me. I'm an equity investor. I want to leave something to the boys. Got three boys, we need three properties and then they give me two, three hundred dollars a month. That's cool. But they got the equity, they're going to have something that they can tangibly touch whenever they of an age.

Speaker C: I love it, man. Uh, this is good, bro. We've got some good money questions that I actually lead these conversations. I'd be really thinking deeply, like, okay, how can I be more m strategic with my debt? How can I leverage debt or, you know, even creating more content around helping other people who are strateg strategically, or not strategically, but who are surviving. And I, I feel even like a slight responsibility to come up with answers for these people like what do we do right now? And create a little formula for them. But now this was good, bro. Um, if this helps you in any way, please, uh, send Dove, uh, a dm, um, Dub Washington on Instagram and uh, let everybody know how they could be a part of your community. And then close this out at Dub

Speaker B: Washington on all social media platforms. What we do is we help you structure your profile, repair the profile, and then position you to get access to high limit credit cards, high limit business lines of credit, or personal lines of credit. But the number one thing that's stopping you is that you don't understand debt. You don't understand how the banks like to lend. So we take a different approach as to unlearning and relearning how the banking sector works. So once again, AI prompts, we teach you how to, you know, repair your credit, we give you the letters, and then we graduate into structuring your funding sequences. So for less than, what, a hundred dollars a month? You spend more on Starbucks than that. So you can learn how to change the trajectory of your financial future.

Speaker C: There we go. Listen, y', all click the link below, be a part of community, and we'll see you next Friday. Peace. Peace.