November 24, 2023 • 43 mins
Today On Financial Fridays with Tony K. AKA TheInsiderInvestor, Fabian Rubal of Motto Mortgage Superior™ goes in depth on teaching others how money can be potentially produced when investing Real Estate!
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Episode Transcript
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Speaker 1 (00:00):
After twenty two years of being a titan No Wall
Street and starting his own firm.
Speaker 2 (00:05):
Tony Kasaik is walking away.
Speaker 3 (00:07):
What to send the Ugly Side.
Speaker 2 (00:09):
Hooking and Only Inside We'll interview insiders and other titans
of all types of industry, offering advice, sharing stories of adversity.
Speaker 3 (00:19):
This is another episode of The Inside Show.
Speaker 2 (00:22):
Welcome to Cannabis Talk one on one's Financial Fridays with
the Inside investor Tony ka We're the world's number one
source for everything cannabis.
Speaker 4 (00:31):
The information provided by Financial Friday and Tony Kasai is
for general information entertainment purposes only and should not be
considered as professional financial advice. Consult with the professional before
making any financial decisions.
Speaker 3 (00:45):
Well.
Speaker 1 (00:45):
Hello, I don't know where you're at, what you're doing,
or what day of the week it is for you,
But over here at the CT one to one studios,
ladies and gentlemen, it is Financial Fridays. I'm honored to
be here with you today. My name is Tony Kasai
and I'm here to get your mind right and your
money game type folks. Feel free to leave me a
financial question at anytime. At one eight hundred and four
twenty nineteen eighty. Guys, you can also connect with me
directly on Instagram at the Insider Investor. Now, you all
(01:08):
know that my number one rule of money is that
your health is your wealth, and you cannot be wealthy
if you are not healthy. That's why I send all
my friends to the number one source for everything health
that we have here at Cannabis.
Speaker 3 (01:18):
Talk one to one.
Speaker 1 (01:19):
His name is doctor Charmers. Charmers Wellness is his website.
And you guys, don't sleep on this gentleman. As you've
heard me say time and time again, this guy is
changing the game when it comes to therapeutic needs using
medical grade cannabis. His ted Talk is something that we're
really proud of. It's being Shadow band, so we'd love
for everybody to search it out. You can find it
on our website. You can find it on his website again,
(01:39):
that's Charmerswaldness dot com. Betterya give them a call two
one four four four six fifty three one hundred. Now
today I'm super pump guys, because if you've been following
the past couple episodes, we've been bringing home actionable items
about what you can do to make money, save money,
and more importantly not to lose your money. And today
I have a good friend of mine on the show.
I've been very selective about who I'm bringing on the
(01:59):
show and what they're going to be representing, but I'm
super excited about today's guest. This is a gentleman I've
known for several years now, and what this dude's going
to do today is not sell you anything. He's not
your typical random brokerage or mortgage guy, but he's going
to educate you, guys, and he's going to do something.
And the topic and the show notes today for the
guys that are listening right now in our production studio
(02:20):
is going to be a lot of people here have
or if you're listening at home, a four own K
plan right, and your typical financial advisor the world that
I came from is going to tell you to max
out your four own K. I'm going to argue that
that is horrible advice. And if there's one person's advice
that you're going to take on the show that I
brought out, it's going to be the gentleman sitting next
to me, my man, Fabia, and welcome to the show, brother,
(02:41):
thank you.
Speaker 3 (02:42):
For having me.
Speaker 1 (02:42):
How you doing fantastic man. First of all, fantastic Fedora.
Speaker 3 (02:45):
Thank you? Are you hiding a bad great hairline or
what's going on there now?
Speaker 1 (02:50):
You know, as long as I've known you, you always
rock the Fedora. There's never the same one twice day.
And Dale you probably have a bigger closet for your
hats than I do my shoes.
Speaker 3 (03:00):
Both. So listen up, guys, what my man does here?
Speaker 1 (03:03):
You know, as long as I've known him, Fabian has
been on my plug for anything mortgage and if you're
like me or if you're not like me, But essentially
I have very limited knowledge of the mortgage industry. To me,
it was always something that was just whenever I needed money,
there was like five guys that I would call whether
I was trying to flip a property or pull money
out of equity. But for most of the audience sitting
(03:24):
home today, the value that myself and Fabian want to
bring to you is we're going to show you how
with a couple of percents down When I say percents,
so think about a million bucks and for fifty grand
or thirty grand, you can own about a million dollar property.
And I want him to walk you guys through. First
of all, his journey to get to where he was.
And you're you're still out of here in Long Beach, right, correct,
(03:45):
down Long Beach. Yeah, beautiful offices there, and you've been
there for five years, okay, and you're you're California, NATA right,
born and.
Speaker 3 (03:52):
Raised, very much so born and all right.
Speaker 1 (03:54):
So what my man is going to do is, first
of all, I want I want to talk to you about, man,
your journey to get to where you are. Are the
chrials and tribulations of being an entrepreneur. Give me, give
me an idea of how you got into the game.
Speaker 5 (04:04):
It's kind of funny, kind of landed on my lap.
I went to college to play baseball, got injured, and
stopped playing baseball. Once I stopped doing that, I actually
started coaching at my old high school. And one of
the fathers that one of the players, his dad was
in the mortgage industry, and he always would tell me, look,
your personality wise, the way you could talk to people,
(04:26):
you know, people gravitate to you, you'd be great in
the industry, would you know, wouldn't she What do you
think about joining my team? And at first I was like, no,
I'm not good. I'm not into that. Talk to my
parents about it. They're like, no, you need a nine
to five. You know, I'm first generation here Cuban, so
it's like hard work putting in the time is what
they believe. Got into an argument with my boss at
(04:48):
my work and literally put in my two weeks the
day the next day, and I got into the industry.
Speaker 3 (04:53):
No shit, how long go was that?
Speaker 5 (04:55):
I'm forty three, I want to say almost twenty years.
Speaker 3 (04:58):
Cool.
Speaker 1 (04:58):
You know, you and I just had lunch right now.
We were talking about some of the trials and tribulations
you've gone through recently. We've both had good partnerships, bad partnerships.
And I love the fact that right now one of
your strategic partners is a gentleman that we both know,
and somebody that I've always looked up to. Is like, man,
I'd be lucky if I had a one on one
mentorship with them. We've developed a pretty good bond. And
I'm sure it's okay to say his name, But you know,
(05:20):
mister Sammy Knight, right correct, You know, give me an
idea of what it's like to, you know, a partner
as a partner, but when you look at somebody that's
like a legend, like like Sammy, is what value are
you getting? You said something and I don't want to
steal your thunder about what somebody told you when you said, hey,
should I get in business with Sammy?
Speaker 5 (05:36):
What they tell you, Oh, basically told me I was
an idiot if I didn't do it, which after the fact,
and everything's the honest truth. I mean, the gentleman's just
very knowledgeable. And what he brings is it's just not
you know, the knowledge, it's the.
Speaker 3 (05:50):
How to deal with people.
Speaker 5 (05:52):
You know, how to speak, how to communicate, how to
make people feel on your team, to generate as much
as you can from them, and have everybody on the
right page. And the guy's just great to have.
Speaker 3 (06:06):
You know.
Speaker 1 (06:06):
A funny story about Sammy, and I don't think I've
told you this story, but about two years ago I
was going on a private trip with the whole APEX
crew and we're taking a private jet out of Dallas
to Cabo and a bunch of new faces were there.
And this was about my second Cabo trip with those guys.
And they're always great trips. Man. You know, private playing
you go down to Cago, you got security mansions taking
(06:27):
care of and it's really just a good group of
people getting together. A lot of them have never met
each other, and you just get together and you figure
out how you can make money, and you strategize about
how to build teams and culture and relationships.
Speaker 3 (06:37):
And at the airport, I see Sammy.
Speaker 1 (06:40):
Now, for most of you who don't know Sammy, Sammy
imagine like kind of like a cross between a Santa
Claus and a hunter and a good old boy and kind.
Speaker 3 (06:49):
Of a redneck, but in a non racist way. Right.
Speaker 1 (06:53):
But when I saw Sammy and I'm idea again, We're
going to Cabo and the dude is wearing all camo
like hunting camera, like he's about to go deer, and
I'm like, bro, I don't think there's any hunting in Cabo.
You know, women, that's a lot it And Sammy, you know,
is devoted. He's got a wife, and so I was like, man,
what is this guy doing?
Speaker 4 (07:08):
You know?
Speaker 1 (07:09):
And this is something I try to share with people
as many times as I can. And that's my biggest
downfall growing up was I always would judge people very
quickly based on what they're wearing, what they look like,
and man, shame on me, you know, and I've said
that several times different people where I stand corrected. I'm like,
when when I first met you, I just thought you
were just a country bumpkin that didn't know where he
(07:30):
was going and you.
Speaker 3 (07:31):
Wore the wrong outfit for this trip.
Speaker 1 (07:33):
And by the end of it, he'd left such an
impact not just on me, but everybody in that room.
So what an honor to have that as a partner
and vice versa for him as well, because I know
you're very credible in the industry, and it is kind
of a you know, there's a lot of sketchy people
in that industry.
Speaker 5 (07:46):
Would you say it's crazy to say the least, To
say the least, it's crazy, And to have someone of
his caliber behind what we're doing and what we're trying
to build is a huge benefit, you know, as a
leader and as a mentor. It's something you can't put
a price.
Speaker 3 (08:03):
On that, you know.
Speaker 1 (08:05):
Again, you and I just speaking at lunch. I got
pretty excited because we've been talking about what we can
do for my audience and for the audience of cannabis
talk one on one to empower them and really get
their mind right around making money, right. So a lot
of people listening right now have other sources of income.
They're not looking to get necessarily into the mortgage industry.
But I feel personally that there's some programs out there
(08:27):
right now that, out of everything that I've seen in
the money game for the past twenty five years, this
is the easiest. Nothing is easy, but this is the
most cost effective and the barriers to entry being solo
right now to owning real estate. Now, if you guys
watched the last couple of shows that we did, you
guys will realize a big theme that I've been falling
(08:48):
on is real estate. And again, I have nothing to
sell you, guys. There's not some magic pill. But what
I can just share with you is my experiences, and
what I found is, Man, the people that I want
to em late to have real wealth, Like f you money,
it's always real estate.
Speaker 3 (09:03):
You know.
Speaker 1 (09:03):
It's never some hot stock tip, it's never some crypto bullshit.
All that stuff is like flash you know, shiny objects.
Speaker 3 (09:10):
Right.
Speaker 5 (09:10):
The crazy part about real estate is you know, everybody
needs somewhere to live.
Speaker 3 (09:15):
Yep.
Speaker 5 (09:15):
Rents aren't going down, and at the end of the day,
appreciation on the value of the property. You're making money
in two aspects, appreciation and in rent residual income. So
that's how they're becoming wealthy.
Speaker 1 (09:29):
And there's a third category which I which I would
encourage you to include in that man is and I
learned about it the hard way because again here I
am a financial advisor making all sorts of money. I
was making seven figures and then one day my seep
and I used to always want to rent, like ball
baller penhouses and the fancias, high rises and apartments, but
I was thrown, you know, ten grand away a month.
You start doing that math, you're like, all right, after
(09:49):
two years, I literally flushed a quarter million dollars down
the drain. Now my CPA comes to me one day,
is like, dude, the same money you're spending on your mortgage,
you could have had a two million dollar house for
free because of the depreiation and the tax benefits.
Speaker 3 (10:01):
Correct.
Speaker 1 (10:02):
And so that's something that I feel like most people
aren't getting educated enough about. It's like, dude, if you're
making decent money and you're renting, and you know, like me,
I didn't have any kids, so I was like, what
was my deductions? I didn't have shit so when I
did buy my house, I was literally free. I mean
that house was literally free and out putting money in
my pocket.
Speaker 5 (10:16):
There's a lot of things that you do taxis with that.
I don't talk about it too much just because it's
not my forte and not my lane, but you're absolutely right.
It is another avenue of creating and helping you create wealth.
Speaker 1 (10:27):
And you know, my vision for you, bro on the
show is you know, we got doctor Chalmers, I got
a couple other experts that I've kind of made a
face of the show. My hope with you is that
you educate our audience on a couple of ideas today
that they could go home and implement, whether it's not themselves,
a family member, a brother, or a parent. And I
think right now of people that can band together if
you have good credit or bad credit or capital and
(10:49):
for the first time you don't really even need that
much capital. Give us an idea, like right now, if
I look out in the studio audience right now and
you get the average thirty five forty year old, you know,
making a decent amount of money, how cheap is it
or what programs? What's the lowest down payment? I need
to get into house right now. What are those numbers?
Speaker 5 (11:07):
The lowest down payment right now is faha going three
and a half percent right if government now, also government,
if you are ex military, you could actually get in
for zero.
Speaker 1 (11:18):
So say that part again. If you're ex military right now,
you can buy a house for a zero down.
Speaker 3 (11:22):
Zero down, absolutely one wow.
Speaker 5 (11:24):
And then the other route is going faha, which would
be three and a half percent. And mind you, that's
for either a single family up to four units, so
you could go to the single family route or you
go up to four units where you start creating that
residual income and that wealth that we're talking about.
Speaker 1 (11:41):
Dude, And that's something you know again, the timeliness of
having you on the show right now. Uh, this program
that we're just talking about, I've been reading about it.
I was researching it and I was like, nobody is
freaking talking about it? And you, I asked you, I said,
is there a catch?
Speaker 3 (11:54):
Who said? There's no catch? The only catch is you've
got to educate people.
Speaker 1 (11:58):
Right and unfortunately, and you're in industry and most money
commission making industries they're transactional and that you nailed it
today at lunchman, and it's like, I look back at
all the relationships I've had in the real estate game,
the ones that survived it were the ones that were
always there for me. If I had a stupid question
or what I thought was a stupid question, they were
there to answer it. But when you educate people instead
(12:19):
of thinking about the transactional value of that relationship, instead
of the longevity value of that relationship, I think is
a game changer. So this new program, guys, is something
that literally two weeks ago, as God is my witness,
I reached out to my partners Gary and Frankino and
Blue and I said, guys, did you know this program's
coming out? Did you know that right now we should
be hustling and looking for duplexus, triplexus and four plexus
(12:40):
and all we need is like one hundred grand for
a two million dollar property. I mean that's five percent.
And here's the other kicker, Guys like I always try
to look for angles in right, So if you can
just get a real estate agent, which if you can
fog a mirror, you can pass the real estate agent
license right, or link up with someone who has it. Well,
if you acquire that asset through a broker, you just
got a three percent commission, so now you're literally using
(13:02):
a half a percent down, So that means for I
can't even do that math.
Speaker 3 (13:05):
It's so low. It's like for ten grand and get
a million dollar property. I mean, it's the equivalent of that.
It's nuts.
Speaker 5 (13:10):
The program you're talking about is also Conventional, which you've
mentioned to me or when we got here. So Fanny
made came out that now they're allowing for one to
four U minutes primary to be at five percent down
as well. Oh wow, so now FAHA is at three
and a half, Conventional is at five. The difference is
(13:32):
basically there's different guidelines for each for each program, right,
so Conventional is a little bit more linient property wise.
FACHA is more linient as far as income wise, so
they're a little stricter on how the property has to
be liverable, so on and so forth, where Conventional be
linient on the appraisal portion, but they're stricter on the income.
(13:54):
What I mean by that by your debt to income,
where FAHA is more linient on that aspect.
Speaker 1 (13:59):
And here's a you know, kind of give you guys
a background. I think you heard me talk about it
on the last show. So the last house that I
bought in Irvine, I did with that FHA, and I
had great income. I think I had pretty decent credit.
I think I was going through some dings for my
foremre partner. But I think I was like sub seven
hundred long story longer for three and a half or so.
For twenty two thousand dollars, I got a seven hundred
(14:20):
thousand dollars house ish and you know, three years later
the thing hit nine hundred thousand. And you can't make
returns like that anywhere. And I live for free, you know,
I mean, if you really look at it, plus the
tax benefits. Now, for the audience at home, before we
take a break, define FAHA government. I mean, there's a
lot of acronyms that we're kind of familiar with, but
I'd love to kind of get a refresher. What's the
difference between an FSJ and a traditional.
Speaker 5 (14:42):
So the FAHA is Federal Housing Association. It is government
and backed by the government, so therefore there's more leniency
on the guidelines. Right, So basically, your to income could
be higher, so it allows you to qualify for more.
Where conventional and traditional they have they follow the fandy
MA guidelines, which at that point they're a little more
(15:03):
stricter on the DTI, but like I said, they're a
little bit more lenient on what the property actually looks like.
Speaker 3 (15:09):
Very cool.
Speaker 1 (15:09):
Yeah, you know, for me, that primary residence that I
bought is obviously where I lived, but where I'm looking
at it now, And maybe this existed back then, but
again I didn't have somebody like you. I'm looking at
this from an investment standpoint. Guys, So what he's talking
about income requirements. You may think like, all right, well,
you know, mom and dad will give me like fifty
grand or a hundred grand, or I could partner up
with somebody that has that capital and I have decent credit,
(15:30):
but I don't have the income. Well, here's the cool
thing about a double duplex, triplex four plex. Rents are
through the roof. I don't know, if you're living in Alaska,
it's probably even gone up high, right, So when you
calculate the rents that you can be charging in these
other units, essentially that's your income. So if you're only
making fifty grand, one hundred grand, whatever that number is,
you can add on if you're charging three grand a
(15:52):
unit for the other three. You just added on another
one hundred and twenty thousand plus income and that's legal,
and you can legitimize that. You can show it goes
towards your income. You know, you haven't booked yet, right,
so it really gives you guys. You know, for those
of you that are hustlers and grinders, I mean, I
would be on the lookout, reach out to your brokers,
let them know that you're in the market. And the
catch is you got to be living in one of
(16:13):
the units. There's little workarounds on that in the gray area.
But at the end of the day, you know, if
you're young and you want to get up in the game,
what I would say is, man, find a duplex, triplex,
four plex, run out the other three, rehabit in a
year or two, cash out REFI because at some point
rates will theoretically drop and now you pull that equity
back out from Grinson repeat. We're going to talk about
that in a later segment. I'm going to take a
(16:33):
break right now. When we've come back, I want to
ask you the Financial Friday five. We'll be right back
on Financial Fridays.
Speaker 2 (16:39):
We'll be right back with the Financial Friday five on
Cannabis Talk, one on one's Financial Fridays with the Insider
Investor Tony K. Welcome back to Cannabis Talk, one on
one's Financial Fridays with the Insider Investor Tony K. It's
(17:00):
now time for the Financial Friday five.
Speaker 1 (17:03):
Guess what, guys, It is open enrollment for health insurance.
And if you've heard the past few episodes, you knew
that I did not have health insurance all up until
last year. But now I'm finally in open enrollment. Super
stoked to be working with Clearwater Health. You guys, if
you want better health at better costs, check out clearwaterhealth
dot com. They're going to have a presence at Mjbiscon
as well. This is a brand new group that we've
(17:23):
been partnered up with. Super excited because not only are
the knowledgeable, not only is it cost effective. In fact,
they don't even want your business if they can't save
you money.
Speaker 3 (17:31):
Two things. Reach out to them. If you already have
a plan, show them what you got.
Speaker 1 (17:35):
They're either going to beat it or they're going to
tell you you're already in good shape. And if you
don't have insurance like I did, now why didn't it
wasn't that I couldn't necessarily afford it. It was just
it seemed like such a pain in the ass. You know,
the deductibles were through the roof. I didn't understand the plans,
and then I get something, and then when something was
wrong with me.
Speaker 3 (17:50):
It take forever to see somebody. I was like, well shit,
I'll just go to urgent care.
Speaker 1 (17:54):
But I tell you why, guys, I'm super stoked to
be working with these guys, and they are cannabis friendly,
so you don't have to lie on your application. Hit
him up clearwaterhealth dot com. Now we are back here
on Financial Fridays with my man, Fabian Rabel. He is
the founder and he is the legend in the mortgage game.
He's somebody that I'm going to bring you guys to
educate you. By the end of the show, you're going
to know exactly how to get a hold of him
(18:14):
and a couple of events that we're talking about throwing
together to really just educate people. Man, we have nothing
to sell other than education, which is free. Fabian, we
do something here called the Financial Friday five on and
puts you through five questions. You have no idea what
I'm going to ask you, but if you've listened to
the show, you know what they are. So question number one,
my man, what is the best investment you have ever made?
Speaker 5 (18:35):
Best investment I've ever made was building a duplex that
I did when I was twenty six. Basically tore down
the house I grew up in and built two houses
on the lot that my parents said at the time,
and this was in Long Beach, No, this is in
the San gabri roseme.
Speaker 3 (18:52):
No shit, yeah, so did that.
Speaker 5 (18:54):
And then funny thing is I moved my parents to
the front house and basically my grandmother lived in the
back with my great grandmother, and I went and bought
my grandfather's house.
Speaker 1 (19:02):
Well, there you go. So it wasn't necessarily a good investment.
It just felt good because I'm sure they weren't paying
mark and rands.
Speaker 5 (19:07):
No, But it's I mean, it's an appreciation itself. So
that's what you got to look at. There's two avenues
to it, all right. So with I mean, we spent
maybe about four fifty four to seventy five building the boat.
You know, maybe let's let's round up to five on.
Speaker 3 (19:23):
Both you and the tear down. You tore it down
and wear it down.
Speaker 5 (19:27):
Brand new two units, two Spanish style homes, and basically
we spent about five hundred k. I mean, last time
I got appraise, there were at one point six nine
twenty seven.
Speaker 3 (19:37):
And how long was that? This was in two thousand
and four, two thousand and five.
Speaker 1 (19:41):
Okay, yeah, so literally triple the money. You got a
great place to live, the tax appreciation, all of it,
and it's still there.
Speaker 3 (19:47):
So where we're at my very cool. Yeah.
Speaker 1 (19:49):
You know, the first real estate deal that I did,
I still drive by it all the time and I
do the math, and you know, at that time, I
was like, oh, I'm going to make one hundred grand,
and I got out of it, unfortunately, say thing.
Speaker 3 (19:56):
And I think I bought it for like three hundred thousand.
It's like worth one point four.
Speaker 1 (20:00):
I think I was excited that I sold for like
five hundred six hundred thousand, but you never know, you know, well,
I take that back. The other thing about real estate,
right is always goes up. I mean unless you're buying
just in a shitty, shitty area, but it'll dip, it'll
kind of creston valleys, but it always ends up.
Speaker 5 (20:14):
But you'd be surprised even if you bind an area
that's you know, not in the greatest areas, there's ways
to turn that around. I mean, you can make that
into a Section eight property where you're getting paid by
the government eighty percent of the rent that you're charging
and you're guaranteed that money direct posit from the government.
So there's avenues of being able to leverage those type
of things too.
Speaker 1 (20:32):
Yeah, man, And I think that's one of the things
I'm really excited about, not just for the audience but
for myself too, because.
Speaker 3 (20:39):
You tapped onto really well.
Speaker 1 (20:40):
It's like there's so many facets that you can play
these not angles. But if you've educated yourself on what
Section eight is, on the loan programs we're talking about,
on the nuances of you know, everybody's just like, well
I got to live there. I'm not going to live there,
you know. But all you need is you know, some
utility bills and make a pit stop and occasionally how
the place could be empty and is probably still better
for you to do, you know what I mean as
a primary residence. So there's so many little things that
(21:01):
you can do that if you have the right group,
the right educating group, and what I like about what
I want to create with you is I just want
to trusted source where people can tap into and ask
those kind of questions because even today, I mean, I
knew about this program, I've read everything on it, but
I wanted to hear your take on what the catch is,
what the nuances is, and you know which one makes
more sense they've had shape portion or the conventional. So
(21:22):
question number two on the Financial Friday five man, is
what is the worst investment that you've ever made? Now,
this could be into a business or a partner or
a person.
Speaker 5 (21:33):
Sometimes trusting the wrong people, you know, just doing a
little bit more due diligence.
Speaker 3 (21:37):
Yeah, I know that.
Speaker 5 (21:40):
I think that's probably what's been mean the asked more
so than anything.
Speaker 3 (21:44):
Ever, so trusting the wrong person right pretty much. You know.
Speaker 5 (21:49):
I've always been taught you go into things good faith
and you always put your best foot forward, you know.
And I learned at an early age. The first person
actually went business with he did.
Speaker 3 (22:01):
Me dirty like bad.
Speaker 5 (22:03):
Yeah, you know, I ended up losing six figures with him.
I was only when it all happened, I was what
twenty eight years old. I had my first kid that
was a couple months old. And basically, you know, finding
out I was going to literally get bent over. Yeah,
you know it. It made me realize a lot of things.
Speaker 3 (22:24):
It made me learn.
Speaker 5 (22:27):
Do a little bit more due diligence and not to
always have your eggs in one spot.
Speaker 1 (22:31):
Yeah you know, And you know, you're remind me a
lot of myself. In the years that I've known you, Like,
we've gone through a couple of good and bad partnerships,
and I think guys like us are always going to
still have a good heart, big heart. There's going to
be guys that take advantage of that. And I think
now what we're realizing is that damage is just last.
I don't think I'm ever going to have jaded. I'm
always going to be in business with someone. Recently, somebody's like,
(22:53):
why would you want to go in business with your friends?
And I was like, fuck, am I going to do
go in business with my enemies?
Speaker 3 (22:57):
You know?
Speaker 1 (22:57):
So yeah, I want to hang out with people that
I do is it's with you know, whether it's Skuy's
here at the studio or somebody like yourself or my
partners on Insider Investor Club. Like, I don't want to
do business with my enemies, but I do get fucked
over with my friends occasionally.
Speaker 3 (23:10):
Guess what, I figured out they're not the right friends, right.
Speaker 5 (23:13):
It just gets down to the point where you got
to make sure you're on the same path. Right then
you have the same the same beliefs that lines up.
I think you're pretty much in in.
Speaker 3 (23:25):
A good path.
Speaker 5 (23:26):
I mean, if something starts acting up or whatnot, you
got to bring it up to light right away and
not hold it. That's the one thing. I think when
you're doing business with friends, you kind of like sit
back a little bit longer than you normally would. So
I think that's the one thing. Now for me, it's
easier to be like, hey, what's going on with X
y Z instead of like holding my tongue a.
Speaker 1 (23:44):
Little Yeah, no, I hear you on that. Now, talking
about yourself, let's just be selfish for a little bit.
What's the best present you ever bought yourself?
Speaker 3 (23:51):
Best present I've ever bought myself?
Speaker 5 (23:55):
Uh, I want to say my first house. Okay, literally,
it was my grandfather's house and it was the best
present I ever bought myself. But then you're gonna laugh
because it was the worst financial decision.
Speaker 3 (24:08):
Why is that? Because I wish.
Speaker 5 (24:09):
Someone was leading me in the right way and telling
me it was my first house and I should have
bought units.
Speaker 3 (24:15):
Dude, I love that.
Speaker 1 (24:16):
Like literally every answer right now is real estate oriented,
and I was teeing you up on that. You're kind
of modest, but it's there's another little congratulations I owe.
It's like, you know, you just had your daughter's kin snira.
Oh and I know that was not cheap. So that's
another little proud Papa present. You'll probably a ply yourself.
She's my like she's your angel.
Speaker 3 (24:32):
She's my wife's everything. You know.
Speaker 5 (24:34):
It's funny because a lot of people are like, oh,
you know, something saved your life, and she just saved
my life.
Speaker 3 (24:40):
Period.
Speaker 5 (24:41):
There was a moment in my life where if I
didn't have her, who knows.
Speaker 3 (24:44):
Where I would be here right now. You'd be a
train made a train wreck, or made a bad decision.
You know.
Speaker 5 (24:49):
My dad made me realize, you know, when I was
going through that ship with my first business partner, Like,
don't get me wrong, I mean I literally want to
get up and do some damage. My dad made me realize,
do you want someone else raising your daughter? Do you
want to raise it with yourself? And I always kept
that in mind with everything that I do, you know,
because she is my pride and enjoy She everything I
(25:11):
do and try to do is to make her better
than myself.
Speaker 3 (25:16):
That's COVID.
Speaker 1 (25:17):
Yeah, no, And I think that's what the world is
lacking these days, is you know, real men that step up,
whether you're married or not. But so many fathers just
are are not there. But I know every time I've
talked to you, it's somehow or no that comes up.
Right now, you're showing me pictures of the contineers, and
congratulations on that, all right, man? The question number four,
what's the best present you've ever bought somebody else?
Speaker 5 (25:40):
That's a hard one, you know, probably see Yeah, Honestly,
to be honest, you know, it wasn't just myself. You know,
I can't take full credit on that for myself. Like
you know, her mom was big on everything. Everybody that
did it, that helped with everything. So it wasn't something
(26:01):
like I say that I did on my own. But
I would say it's probably the greatest gift I've given
because the joy and the like the happiness I saw
her have that night, you know, she was smiling ear.
Speaker 3 (26:12):
To ear she like, she had a blast.
Speaker 5 (26:14):
So and it was all about her because a lot
of traditional is they have like you know, they have
the group dance and everything of that sort, and you know,
it kind of takes away from you know, the it's
her moment. So basically, you know, the thing I told
her was, look, it's all about you today. So at
that point, you're not gonna have a champlaine, You're not
(26:35):
gonna have the group or the dance, Like, this is
all about you. So what do you want to do
and how do you want to do it? And we
it was a beautiful day. We were able to have
it at the Sentinity to Racetrack, which is phenomenal, and
you know, it was just a special day.
Speaker 3 (26:50):
That's cool, man, that's really cool. All right, man, we're
almost done here.
Speaker 1 (26:53):
Question number five on the Financial Friday five is if
you could buy one thing money is not an object?
Speaker 5 (26:58):
What would that be one thing and money was not
an object? Ship, Let's go back to real estate because
at that end of the day, that's just going to
generate more bit and more.
Speaker 3 (27:09):
Money, like a massive just a massive apartment.
Speaker 5 (27:11):
I stay, I stay in my lane. You know, I've
been in the industry for so long. A lot of
people try and do so many different things. And you know,
one thing I was always taught was when you try
and do too much, you don't become an expert in
what you're really truly trying to become in.
Speaker 3 (27:28):
So you have to it some in some aspects, jack
of all trades, master of none exactly. So at the
end of the day, I do I would buy? Would I?
I know?
Speaker 5 (27:38):
And I would literally, yeah, I would go with some
type of multiple apartment complex or something that's just going
to generate a ton of residual income.
Speaker 3 (27:47):
That's funny.
Speaker 1 (27:48):
My mom always says, you know, why didn't you just
stay into one thing, you know, whether it was financial
biasing and then real estate or this and that, And
I'm like, Mama, it is then they gets money. So now,
you know, one of my least favorite questions that people
ask me, it's like, oh, what you do? And it's like,
you know, at the level that we get to, it's
like it's not an easy question to answer, So it's
more like what don't I do?
Speaker 3 (28:06):
Right?
Speaker 1 (28:06):
So, now, if I just want to kind of mess
with someone, I just say I'm I'm a delivery driver
for Dominoes.
Speaker 3 (28:11):
And then I see the reaction. Right, you quickly forgot
who the gold diggers are. Who's actually interesting.
Speaker 5 (28:16):
What you have to say?
Speaker 3 (28:18):
Absolutely all right.
Speaker 1 (28:19):
Man man, Well, when we come back from this next break,
I want to hear a little bit more.
Speaker 3 (28:22):
About how people can get a hold of you. Let's
talk about some of.
Speaker 1 (28:24):
The joint events we want to do, and I want
to dive into a little bit more about what next
steps somebody could take right now if they want to
take action or anything we talked about.
Speaker 3 (28:31):
We'll be right back on Financial Fridace.
Speaker 2 (28:32):
We'll be right back with more Financial Fridays with the
Inside Investor Tony K. Make sure you follow Tony at
the Insider Investor. Welcome back to Cannabis Talk one on
ones Financial Fridays with the Inside Investor Tony K. Make
(28:54):
sure you like, follow and subscribe to.
Speaker 3 (28:56):
The show now.
Speaker 1 (28:57):
Listen up if you're on the East coast, West coast,
South coast, North coast, if there's such a thing. Cannabis
Talk one on one is parted up with Master Mentors Live.
We're going on tour, guys. The first events are coming
up here in about shit about a week. We're going
to be in New Jersey and New York. We're in
the East coast first that we're going to Atlanta, Dallas.
Check it out Mastermentorslive dot com. If you've ever wanted
(29:18):
to meet us in person, if you've wanted to get
an education in the cannabis space, whether it's on the
media side with our affiliation on the magazines, the international
magazine we just have, if you've ever ever wanted to
white label your own brand, if you ever wanted to
start your own dispensary, your own grow this is your
one stop shop for anything cannabis education. Master Mentors Live. Guys,
we're going on tour. I cannot wait for that. We
(29:40):
are now back here with my mant Fabian.
Speaker 3 (29:42):
Fabian.
Speaker 1 (29:43):
We've been talking about how people can get their money
game right using real estate now, unlike traditional real estate
where you've got to have hundreds of thousands of dollars.
I love what we're going to be rolling out with you,
which is basically showing people how for literally ten grand,
twenty grand, thirty grand, they could buy their first house.
And guys, if you think that's a a lot of money,
let me let me just explain to you. I've been
where you're at I've left paycheck to paycheck. I've bartended
(30:05):
flip Burgers, I've worked at Olive Garden, Little Caesar's Target.
There is not a job I haven't held. Most of
them were restaurant oriented before I got in this game.
But I'm going to tell you right now, there's a
lot of people that believe in you. If you have
the right plan, if you have the right real estate,
there's always money to be found. There's always somebody willing
to partner up with you, JV with you. And these
are all the things that that Fabian and myself can
(30:27):
kind of really educate you guys on and just give
you the strategies. We're not here to charge you by
the hour. We're not here to sell you some kind
of a mentorship program.
Speaker 3 (30:35):
You know.
Speaker 1 (30:35):
Really what we want to do is build a tribe
of people that can go find real estate, buy real estate. Hell,
we can do that shit together, you know, on a
JV side, Fabian, if somebody's sitting at home right now,
I want you to break down two categories. You got
somebody at home right now that's got maybe about fifty grand.
They make decent income, they got decent credit, They want
to get in the game what can they do to
buy their first income producing property?
Speaker 5 (30:56):
So what I would do, Like I mentioned earlier, you know,
I bought my first house. It was one of my
private joys of moments, but it was also financially not
the right move right. The reason I say that is
when you buy a single family home, you have to
live in it as a primary You can't generate income
from it. So what I like to do and talk
(31:17):
to my first time buyers, my younger clientele, is we
look into buying three four units leveraging FHA.
Speaker 3 (31:24):
What do we do?
Speaker 5 (31:25):
We put three and a half percent down on those
three to four units. You have to live technically in
one unit for twelve months. The other two to three
units are generating income for you right the monthly rent
which typically two of them are going to take care
of the mortgage for you. The additional one is going.
Speaker 3 (31:43):
To start creating cash flow.
Speaker 5 (31:46):
And then after the year, then you go ahead and
make your next move right, which what I tell my
clientele is after that year, you go and you go
conventional and you go buy at least two units conventional wise,
there's ways to be able to do that two years
with five percent down you've created six doors with eight
and a half percent of the total cost right for
(32:09):
down payment. That's not including the closing costs, but for
the down payment purpose. Right then after that there's other
steps to create you know, more doors. Within the next
year or within the next six months, you go buy
a second home, which you could make that second home
also an airbnb because you'd buy it in an area
that would have some type of traffic right like out
(32:29):
here I would say, like Big Bear or something like
of that sense, and or Palm Springs. So now you're
running that out weekly. That's creating money for you and
everything like that. And for all those doors, you're still
under twenty percent yea of all that.
Speaker 3 (32:44):
You know.
Speaker 1 (32:44):
In the opening segment, I discussed you know, if somebody
tells you should be maxing out your four own K
and why I think that's awful advice. And I touched
on this in the last show. But essentially a four
one K guys, there's nothing more than a savings account
if you will, that is tax sheltered, you know, meaning
no matter how much money you make in that account,
they can't tax you until they take it out. But
this big conception misconception, if you will, is when you
(33:07):
work for any company, be it a fancy company like
a Boeing or North Krubman, or a Target or Little Caesars,
doesn't matter. Most companies will offer a four to one
K plan. But there's a misconception that by investing in
that you have some kind of a guaranteed retirement. All
it is is a basket of garbage mutual funds guys
that are typically heavily laid in with fees. There's restrictions
(33:28):
on you taking that money out. But more importantly, you
only have the option of maybe thirteen to fifteen different
mutual funds. So the first thing I tell people is
if you have a four to one K, you should
only put money in what your company is matching it.
So if they're matching up to two percent, only put
in two percent. Any other penny you're putting into a
four one K is the worst, And I challenge anybody
to debate me on that. There's the worst investment you
(33:48):
can make. Yeah, trillions of dollars are in freaking four
one ks right now. Let's say you leave that company.
You now have cash in a four one K, that
four to one K you need to roll into what's
called If it's over twenty five thousand dollars, you should
roll it into a self directed IRA.
Speaker 3 (34:02):
If it's less than that, you should roll.
Speaker 1 (34:03):
It into like an e Trader Meritrade and just buy
a couple of blue chips or brands that you know,
like Amazon, Google, Tesla, whatever.
Speaker 3 (34:10):
Just sit on it.
Speaker 1 (34:11):
But once you have a meaningful on account amount in
a four one K and it's over twenty five thousand,
roll it into an IRA, and then we can show
you how to actually roll it into a self directed iray.
Now you can actually buy a freaking real estate inside
of that, So instead of a four one k oning
dokship mutual funds, you don't know, own real estate inside
of that. And that's the one tip that I can
add to you.
Speaker 3 (34:30):
This.
Speaker 1 (34:30):
The second thing, and I do have a question for you,
is back then, I remember you can use up to
ten thousand dollars of your IRA tax free as a
down payment for a primary residence. Do you know if
that could qualify for these programs as well?
Speaker 5 (34:44):
Or is that kind of you could always pull out
what the IRA allows you to pull out.
Speaker 3 (34:49):
Uh huh, that's it. Then it's just gosh.
Speaker 1 (34:52):
So if you do have money in an IRA before,
you know, an example that I just said, where you
have less than twenty five thousand, the first ten thousand
you can take out as long as you're using it
as a down payment on the house. There's your first
hand grand right there. Right, So I mentioned there's two
categories of people at home right now the person who's
got about that one hundred k. Now, let's say you're
like some of my engineers here in some of the
studio that are interning here, they're just getting to the game,
(35:13):
they're making their first bucks. What can they do to
prepare because I know you and I started with no
money down.
Speaker 3 (35:18):
I mean that's how we got in the game. But
what can they do and what are the plan?
Speaker 1 (35:22):
What are the steps they can take to kind of
follow on the footsteps and eventually own those doors?
Speaker 3 (35:27):
What should they be focused on?
Speaker 5 (35:29):
So I would say, have a game plan of how
much you're going to be saving a month, right because
what comes down to is down payment and closing costs. Now,
your realtor could always go back and you know, requests help.
Right now, in this type of environment in our industry,
they could go back and ask for closing costs and whatnot.
But typically when the market's hot and everything like that,
(35:51):
that's pretty much not seen. But I would say having
the game plan of how what you're looking for, what
area you're looking for, so you could start putting a
game plan as far as saving the down payment, that's
probably the most important part. Right. We could always go
back and leverage a gift or whatnot for other avenues
of the closing costs, and but I think that's the
(36:15):
most important part. The thing is that what happens nowadays
is everybody wants to you know, you get a job,
you start making a little bit of money. And don't
get me wrong, I went through this shit too, Like
you start wanting you want a ball, you want to
be flashy, you want to let people know I'm making
some money. Well, I fucking wasted way too much money
doing that shit and paying fucking everybody's bar tab. Yeah,
then putting money away and investing it and like in property,
(36:39):
which which is what I should have done, right, I
learned that the hard way. So what I do now
is that when I sit with younger individuals or anybody
that's just starting to look like I literally I'm really straightforward.
I'm like, I don't I don't hide anything in that aspect,
or I tell them I've I've ruined my credit in
the past. Everybody thinks, you know, Latinos always told your
(37:00):
credit is the most important thing in the world, right, well,
then you could rebuild that. Like your parents make you
feel like, oh, you can't do that, well, yeah, you can't. Right,
there's certain things that we've been taught and told that bullshit.
And I went through that too with my parents being
first generation here. So the biggest thing was I was
(37:20):
out trying to be flashing instead of saving money.
Speaker 3 (37:22):
Yeah, and you're going to.
Speaker 5 (37:23):
Have people tell you, oh, well you just don't want
to hang out, you don't want to do this, you
know what, Screw them at the end of the day,
because you're trying to set yourself up right.
Speaker 3 (37:31):
So I think that's the.
Speaker 5 (37:32):
Biggest thing is knowing what you want to do, setting
the forefront and the laying out the road on how
you're going to get there and sticking to it.
Speaker 1 (37:42):
And you know it sounds cheesy, guys, but I and
I was freaking awful at doing this. But then I
noticed that the people that were actually becoming way more
are compressing time and moving a lot faster than I
was in their accumulation of wealth. We're doing this, and
it's exactly what he's saying. By taking a step further
is having a written plan.
Speaker 3 (37:59):
Right.
Speaker 1 (38:00):
What he's saying is, you know, know how much you
can save if you're making three grand a month and
you can afford to save three hundred dollars exactly ten
percent every month, just make it automated and have a go,
but have it written down and define it out. Be like,
all right, this is going to be twelve months. For
twelve months, I'm gonna be put inside three hundred dollars
a month. Here's what I'm going to have at six months,
at three months, at nine months, at a year. And
(38:20):
then you have a metrics And there's something weird about
the brain. I'd love to hear somebody that knows way
more about the chemistry of it. But something happens when
you put pen to paper and you put a vision
on that paper and you're revisiting that on a morning,
whether it's meditating.
Speaker 3 (38:33):
Would you agree to that absolutely one hundred percent. It's
kind of crazy.
Speaker 5 (38:36):
Everybody likes to use apps, everybody likes to you know,
put notes on their phone. Yeah, I'm always with the notebook. Yeah,
Like I'm really old tom about that. I sit down
with clients and I bust out a notebook and I'm
writing down and they like look at me like that's weird, dude.
Speaker 1 (38:49):
I cannot tell you how much I feel the same way,
and it's it's weird, like even to this day, like
I feel like I need to dictate if somebody is
going to type long but just scratching down in that
little notebook and flipping back that. So I don't know
what it is about that, but it absolutely worked. Faban,
what what's the best way somebody can get ahold of you?
If they have a direct question or if they want help.
Speaker 5 (39:07):
You can always reach me uh by email which is
Fabian dot Reball at model mortgage dot com. Models m
O T T O Mortgage m O R T G
A g E dot com you can find me and
Fabian uh f A b I A N dot r
U B A L. You can find me on Instagram
(39:28):
at Fabian dot reball. You can find me on the
Facebook at Fabian Reball. Basically, d m me send me
a message like we're talking about I'm all about education
and everything in that aspect. So that being said, you know,
sitting down and talking to someone and helping them put
a game plan together, Like, there's no we don't charge
anything in that aspect.
Speaker 3 (39:48):
Like we have to earn people's business. That's the other
thing in.
Speaker 5 (39:50):
Our industry that a lot of people expect is you know,
if you speak to me, you have to go with me.
I don't believe that, Like, I'm a big believer that
we got to show you our work. We got to
earn our business, show you that what we say we're
going to be able to do for you, we do
for you. I'll put my money against anybody with my team,
we think.
Speaker 3 (40:09):
Outside the box.
Speaker 5 (40:10):
We don't only work with first time buyers and newbies
in the sense of you know, looking to do stuff.
I mean, we have a lot of investors we work with.
You know, you mentioned something about earlier about judging someone
the first time you see them, Like if you meet
one of my investors, like you would meet him and
you'd be like, nah, that guy can't be worth much.
(40:31):
Guy owns like twenty million dollars worth of property out
in LA and he looks like like, literally, I kid
you not he looks he's an old Hispanic gentleman that
you know, you you think he was a gardener.
Speaker 3 (40:42):
You don't want to if you guys want to check
out a book.
Speaker 1 (40:45):
One of the books that made me change my mind
frame on that was The Millionaire next Door. And after
reading that, I realized how many people I do pass
on a given basis and you know, uh seeing seeing
them in a beat up car, and that dude's probably
got like eight figure bank account. Absolutely, I mean you
probably see that more than I do. And you're right,
you know, going through the financial services game, sometimes it
was the person who was just the crummiest looking out
(41:06):
fast they'd come in and.
Speaker 3 (41:07):
That dude had a bigger bankroll than everybody come by in.
And they're the best lines.
Speaker 5 (41:11):
They're the most loyal, best clients there are, you know.
But like I said, you can reach me on that.
My team will help you guys in any We'll set
everything up. That's cool, And like you said, let's see
what we could do also about putting some some dates
together as far as.
Speaker 1 (41:27):
Yeah, you know, what I'd love to do is two things.
Because obviously we have a nationwide audience, but the good
majority of them are here in southern California. So I
think what Fabe and I would like to do, and
again this is free of charge. I think after MJ
Biscon and some of that hooplod dies that we got
going on, I think I'd like to set up something
where we just invite some listeners over to your office
or even here in the studio. We give you, we
break you down here for your first time home buyers
(41:48):
and investors that want to just get in the game
want the plug on, not just the investment side of it,
the financing side of it, the deal flow, because you
guys assist.
Speaker 3 (41:56):
With all of that.
Speaker 1 (41:57):
You know, somebody may say, where can I find a
perfect four play? So I think just with the networks
that we have, that's something that we can provide. So
that'll be here in Long Beach. The other thing I'd
like to do is for people that obviously not local
to Southern California, because you guys can lend in all
fifty states and there's obviously real estate everywhere, so we
can do a live zoom as well.
Speaker 3 (42:14):
And again these.
Speaker 1 (42:15):
Would be free. This would just be a give back
to the audience. If you guys are interested in that,
reach out to me. And my dms just put in
the word real estate. I'll have our team look that
up get back to you with those dates. We don't
have them established it, but we're probably thinking towards the
end of the year, maybe even early next year.
Speaker 3 (42:30):
Anything else you want to add before we leave, brother,
not much, man, I appreciate it. Thank you very much.
Speaker 1 (42:34):
Shout out to shout out to Sammy Knight and Ashley
as well. I know your whole crew there. There are
people that I've always wanted to get to know more
and they're unfortunately not here on the West Coast, but
I can't wait to have them on the show and
can't wait to have you back.
Speaker 4 (42:46):
Man.
Speaker 1 (42:47):
I have a feeling that's going to be a long,
productive relationship that we have. And before I leave, guys,
you know, this may seem easy in front of the camera,
but there's a whole army of people to make this happen.
I want to give a special shout out and thank
you to, of course Blue and Joe Grandi, but the intern,
the staff here, Adrian Emir, the two, alex Is Mondo, Madison,
Teddy the show Dog, Daniel O'Connor, Elbert Kinky, Kim Baxter,
(43:07):
Beach Barcelar, Ali Muffins Sunday, Cassie Ruby, Goldie Brother, Pitt,
Mark Carnes, Chris Frankino, Jennifer Erica, Elvis you guys, thank
you so much. Means a lot to me for listening
to Financial Fridays here on Cannabis Talk one on one Booth,
Flu and Joe Grande, the world's number one source for
everything cannabis. I'm Tony Kay, You're Insider Investor and you
guys can always find me on Instagram at the Insider Investor.
I'm going to see you guys next Friday. Remember keep
(43:29):
that wallet tight, your mind right. I look forward to
seeing you guys on the inside.
Speaker 3 (43:32):
See you soon.
Speaker 2 (43:33):
Thank you for listening to Financial Fridays with the Insider
Investor Tony Ka on Cannabis Talk one on one, the
world's number one source for everything cannabis,
After twenty two years of being a titan No Wall
Street and starting his own firm.
Speaker 2 (00:05):
Tony Kasaik is walking away.
Speaker 3 (00:07):
What to send the Ugly Side.
Speaker 2 (00:09):
Hooking and Only Inside We'll interview insiders and other titans
of all types of industry, offering advice, sharing stories of adversity.
Speaker 3 (00:19):
This is another episode of The Inside Show.
Speaker 2 (00:22):
Welcome to Cannabis Talk one on one's Financial Fridays with
the Inside investor Tony ka We're the world's number one
source for everything cannabis.
Speaker 4 (00:31):
The information provided by Financial Friday and Tony Kasai is
for general information entertainment purposes only and should not be
considered as professional financial advice. Consult with the professional before
making any financial decisions.
Speaker 3 (00:45):
Well.
Speaker 1 (00:45):
Hello, I don't know where you're at, what you're doing,
or what day of the week it is for you,
But over here at the CT one to one studios,
ladies and gentlemen, it is Financial Fridays. I'm honored to
be here with you today. My name is Tony Kasai
and I'm here to get your mind right and your
money game type folks. Feel free to leave me a
financial question at anytime. At one eight hundred and four
twenty nineteen eighty. Guys, you can also connect with me
directly on Instagram at the Insider Investor. Now, you all
(01:08):
know that my number one rule of money is that
your health is your wealth, and you cannot be wealthy
if you are not healthy. That's why I send all
my friends to the number one source for everything health
that we have here at Cannabis.
Speaker 3 (01:18):
Talk one to one.
Speaker 1 (01:19):
His name is doctor Charmers. Charmers Wellness is his website.
And you guys, don't sleep on this gentleman. As you've
heard me say time and time again, this guy is
changing the game when it comes to therapeutic needs using
medical grade cannabis. His ted Talk is something that we're
really proud of. It's being Shadow band, so we'd love
for everybody to search it out. You can find it
on our website. You can find it on his website again,
(01:39):
that's Charmerswaldness dot com. Betterya give them a call two
one four four four six fifty three one hundred. Now
today I'm super pump guys, because if you've been following
the past couple episodes, we've been bringing home actionable items
about what you can do to make money, save money,
and more importantly not to lose your money. And today
I have a good friend of mine on the show.
I've been very selective about who I'm bringing on the
(01:59):
show and what they're going to be representing, but I'm
super excited about today's guest. This is a gentleman I've
known for several years now, and what this dude's going
to do today is not sell you anything. He's not
your typical random brokerage or mortgage guy, but he's going
to educate you, guys, and he's going to do something.
And the topic and the show notes today for the
guys that are listening right now in our production studio
(02:20):
is going to be a lot of people here have
or if you're listening at home, a four own K
plan right, and your typical financial advisor the world that
I came from is going to tell you to max
out your four own K. I'm going to argue that
that is horrible advice. And if there's one person's advice
that you're going to take on the show that I
brought out, it's going to be the gentleman sitting next
to me, my man, Fabia, and welcome to the show, brother,
(02:41):
thank you.
Speaker 3 (02:42):
For having me.
Speaker 1 (02:42):
How you doing fantastic man. First of all, fantastic Fedora.
Speaker 3 (02:45):
Thank you? Are you hiding a bad great hairline or
what's going on there now?
Speaker 1 (02:50):
You know, as long as I've known you, you always
rock the Fedora. There's never the same one twice day.
And Dale you probably have a bigger closet for your
hats than I do my shoes.
Speaker 3 (03:00):
Both. So listen up, guys, what my man does here?
Speaker 1 (03:03):
You know, as long as I've known him, Fabian has
been on my plug for anything mortgage and if you're
like me or if you're not like me, But essentially
I have very limited knowledge of the mortgage industry. To me,
it was always something that was just whenever I needed money,
there was like five guys that I would call whether
I was trying to flip a property or pull money
out of equity. But for most of the audience sitting
(03:24):
home today, the value that myself and Fabian want to
bring to you is we're going to show you how
with a couple of percents down When I say percents,
so think about a million bucks and for fifty grand
or thirty grand, you can own about a million dollar property.
And I want him to walk you guys through. First
of all, his journey to get to where he was.
And you're you're still out of here in Long Beach, right, correct,
(03:45):
down Long Beach. Yeah, beautiful offices there, and you've been
there for five years, okay, and you're you're California, NATA right,
born and.
Speaker 3 (03:52):
Raised, very much so born and all right.
Speaker 1 (03:54):
So what my man is going to do is, first
of all, I want I want to talk to you about, man,
your journey to get to where you are. Are the
chrials and tribulations of being an entrepreneur. Give me, give
me an idea of how you got into the game.
Speaker 5 (04:04):
It's kind of funny, kind of landed on my lap.
I went to college to play baseball, got injured, and
stopped playing baseball. Once I stopped doing that, I actually
started coaching at my old high school. And one of
the fathers that one of the players, his dad was
in the mortgage industry, and he always would tell me, look,
your personality wise, the way you could talk to people,
(04:26):
you know, people gravitate to you, you'd be great in
the industry, would you know, wouldn't she What do you
think about joining my team? And at first I was like, no,
I'm not good. I'm not into that. Talk to my
parents about it. They're like, no, you need a nine
to five. You know, I'm first generation here Cuban, so
it's like hard work putting in the time is what
they believe. Got into an argument with my boss at
(04:48):
my work and literally put in my two weeks the
day the next day, and I got into the industry.
Speaker 3 (04:53):
No shit, how long go was that?
Speaker 5 (04:55):
I'm forty three, I want to say almost twenty years.
Speaker 3 (04:58):
Cool.
Speaker 1 (04:58):
You know, you and I just had lunch right now.
We were talking about some of the trials and tribulations
you've gone through recently. We've both had good partnerships, bad partnerships.
And I love the fact that right now one of
your strategic partners is a gentleman that we both know,
and somebody that I've always looked up to. Is like, man,
I'd be lucky if I had a one on one
mentorship with them. We've developed a pretty good bond. And
I'm sure it's okay to say his name, But you know,
(05:20):
mister Sammy Knight, right correct, You know, give me an
idea of what it's like to, you know, a partner
as a partner, but when you look at somebody that's
like a legend, like like Sammy, is what value are
you getting? You said something and I don't want to
steal your thunder about what somebody told you when you said, hey,
should I get in business with Sammy?
Speaker 5 (05:36):
What they tell you, Oh, basically told me I was
an idiot if I didn't do it, which after the fact,
and everything's the honest truth. I mean, the gentleman's just
very knowledgeable. And what he brings is it's just not
you know, the knowledge, it's the.
Speaker 3 (05:50):
How to deal with people.
Speaker 5 (05:52):
You know, how to speak, how to communicate, how to
make people feel on your team, to generate as much
as you can from them, and have everybody on the
right page. And the guy's just great to have.
Speaker 3 (06:06):
You know.
Speaker 1 (06:06):
A funny story about Sammy, and I don't think I've
told you this story, but about two years ago I
was going on a private trip with the whole APEX
crew and we're taking a private jet out of Dallas
to Cabo and a bunch of new faces were there.
And this was about my second Cabo trip with those guys.
And they're always great trips. Man. You know, private playing
you go down to Cago, you got security mansions taking
(06:27):
care of and it's really just a good group of
people getting together. A lot of them have never met
each other, and you just get together and you figure
out how you can make money, and you strategize about
how to build teams and culture and relationships.
Speaker 3 (06:37):
And at the airport, I see Sammy.
Speaker 1 (06:40):
Now, for most of you who don't know Sammy, Sammy
imagine like kind of like a cross between a Santa
Claus and a hunter and a good old boy and kind.
Speaker 3 (06:49):
Of a redneck, but in a non racist way. Right.
Speaker 1 (06:53):
But when I saw Sammy and I'm idea again, We're
going to Cabo and the dude is wearing all camo
like hunting camera, like he's about to go deer, and
I'm like, bro, I don't think there's any hunting in Cabo.
You know, women, that's a lot it And Sammy, you know,
is devoted. He's got a wife, and so I was like, man,
what is this guy doing?
Speaker 4 (07:08):
You know?
Speaker 1 (07:09):
And this is something I try to share with people
as many times as I can. And that's my biggest
downfall growing up was I always would judge people very
quickly based on what they're wearing, what they look like,
and man, shame on me, you know, and I've said
that several times different people where I stand corrected. I'm like,
when when I first met you, I just thought you
were just a country bumpkin that didn't know where he
(07:30):
was going and you.
Speaker 3 (07:31):
Wore the wrong outfit for this trip.
Speaker 1 (07:33):
And by the end of it, he'd left such an
impact not just on me, but everybody in that room.
So what an honor to have that as a partner
and vice versa for him as well, because I know
you're very credible in the industry, and it is kind
of a you know, there's a lot of sketchy people
in that industry.
Speaker 5 (07:46):
Would you say it's crazy to say the least, To
say the least, it's crazy, And to have someone of
his caliber behind what we're doing and what we're trying
to build is a huge benefit, you know, as a
leader and as a mentor. It's something you can't put
a price.
Speaker 3 (08:03):
On that, you know.
Speaker 1 (08:05):
Again, you and I just speaking at lunch. I got
pretty excited because we've been talking about what we can
do for my audience and for the audience of cannabis
talk one on one to empower them and really get
their mind right around making money, right. So a lot
of people listening right now have other sources of income.
They're not looking to get necessarily into the mortgage industry.
But I feel personally that there's some programs out there
(08:27):
right now that, out of everything that I've seen in
the money game for the past twenty five years, this
is the easiest. Nothing is easy, but this is the
most cost effective and the barriers to entry being solo
right now to owning real estate. Now, if you guys
watched the last couple of shows that we did, you
guys will realize a big theme that I've been falling
(08:48):
on is real estate. And again, I have nothing to
sell you, guys. There's not some magic pill. But what
I can just share with you is my experiences, and
what I found is, Man, the people that I want
to em late to have real wealth, Like f you money,
it's always real estate.
Speaker 3 (09:03):
You know.
Speaker 1 (09:03):
It's never some hot stock tip, it's never some crypto bullshit.
All that stuff is like flash you know, shiny objects.
Speaker 3 (09:10):
Right.
Speaker 5 (09:10):
The crazy part about real estate is you know, everybody
needs somewhere to live.
Speaker 3 (09:15):
Yep.
Speaker 5 (09:15):
Rents aren't going down, and at the end of the day,
appreciation on the value of the property. You're making money
in two aspects, appreciation and in rent residual income. So
that's how they're becoming wealthy.
Speaker 1 (09:29):
And there's a third category which I which I would
encourage you to include in that man is and I
learned about it the hard way because again here I
am a financial advisor making all sorts of money. I
was making seven figures and then one day my seep
and I used to always want to rent, like ball
baller penhouses and the fancias, high rises and apartments, but
I was thrown, you know, ten grand away a month.
You start doing that math, you're like, all right, after
(09:49):
two years, I literally flushed a quarter million dollars down
the drain. Now my CPA comes to me one day,
is like, dude, the same money you're spending on your mortgage,
you could have had a two million dollar house for
free because of the depreiation and the tax benefits.
Speaker 3 (10:01):
Correct.
Speaker 1 (10:02):
And so that's something that I feel like most people
aren't getting educated enough about. It's like, dude, if you're
making decent money and you're renting, and you know, like me,
I didn't have any kids, so I was like, what
was my deductions? I didn't have shit so when I
did buy my house, I was literally free. I mean
that house was literally free and out putting money in
my pocket.
Speaker 5 (10:16):
There's a lot of things that you do taxis with that.
I don't talk about it too much just because it's
not my forte and not my lane, but you're absolutely right.
It is another avenue of creating and helping you create wealth.
Speaker 1 (10:27):
And you know, my vision for you, bro on the
show is you know, we got doctor Chalmers, I got
a couple other experts that I've kind of made a
face of the show. My hope with you is that
you educate our audience on a couple of ideas today
that they could go home and implement, whether it's not themselves,
a family member, a brother, or a parent. And I
think right now of people that can band together if
you have good credit or bad credit or capital and
(10:49):
for the first time you don't really even need that
much capital. Give us an idea, like right now, if
I look out in the studio audience right now and
you get the average thirty five forty year old, you know,
making a decent amount of money, how cheap is it
or what programs? What's the lowest down payment? I need
to get into house right now. What are those numbers?
Speaker 5 (11:07):
The lowest down payment right now is faha going three
and a half percent right if government now, also government,
if you are ex military, you could actually get in
for zero.
Speaker 1 (11:18):
So say that part again. If you're ex military right now,
you can buy a house for a zero down.
Speaker 3 (11:22):
Zero down, absolutely one wow.
Speaker 5 (11:24):
And then the other route is going faha, which would
be three and a half percent. And mind you, that's
for either a single family up to four units, so
you could go to the single family route or you
go up to four units where you start creating that
residual income and that wealth that we're talking about.
Speaker 1 (11:41):
Dude, And that's something you know again, the timeliness of
having you on the show right now. Uh, this program
that we're just talking about, I've been reading about it.
I was researching it and I was like, nobody is
freaking talking about it? And you, I asked you, I said,
is there a catch?
Speaker 3 (11:54):
Who said? There's no catch? The only catch is you've
got to educate people.
Speaker 1 (11:58):
Right and unfortunately, and you're in industry and most money
commission making industries they're transactional and that you nailed it
today at lunchman, and it's like, I look back at
all the relationships I've had in the real estate game,
the ones that survived it were the ones that were
always there for me. If I had a stupid question
or what I thought was a stupid question, they were
there to answer it. But when you educate people instead
(12:19):
of thinking about the transactional value of that relationship, instead
of the longevity value of that relationship, I think is
a game changer. So this new program, guys, is something
that literally two weeks ago, as God is my witness,
I reached out to my partners Gary and Frankino and
Blue and I said, guys, did you know this program's
coming out? Did you know that right now we should
be hustling and looking for duplexus, triplexus and four plexus
(12:40):
and all we need is like one hundred grand for
a two million dollar property. I mean that's five percent.
And here's the other kicker, Guys like I always try
to look for angles in right, So if you can
just get a real estate agent, which if you can
fog a mirror, you can pass the real estate agent
license right, or link up with someone who has it. Well,
if you acquire that asset through a broker, you just
got a three percent commission, so now you're literally using
(13:02):
a half a percent down, So that means for I
can't even do that math.
Speaker 3 (13:05):
It's so low. It's like for ten grand and get
a million dollar property. I mean, it's the equivalent of that.
It's nuts.
Speaker 5 (13:10):
The program you're talking about is also Conventional, which you've
mentioned to me or when we got here. So Fanny
made came out that now they're allowing for one to
four U minutes primary to be at five percent down
as well. Oh wow, so now FAHA is at three
and a half, Conventional is at five. The difference is
(13:32):
basically there's different guidelines for each for each program, right,
so Conventional is a little bit more linient property wise.
FACHA is more linient as far as income wise, so
they're a little stricter on how the property has to
be liverable, so on and so forth, where Conventional be
linient on the appraisal portion, but they're stricter on the income.
(13:54):
What I mean by that by your debt to income,
where FAHA is more linient on that aspect.
Speaker 1 (13:59):
And here's a you know, kind of give you guys
a background. I think you heard me talk about it
on the last show. So the last house that I
bought in Irvine, I did with that FHA, and I
had great income. I think I had pretty decent credit.
I think I was going through some dings for my
foremre partner. But I think I was like sub seven
hundred long story longer for three and a half or so.
For twenty two thousand dollars, I got a seven hundred
(14:20):
thousand dollars house ish and you know, three years later
the thing hit nine hundred thousand. And you can't make
returns like that anywhere. And I live for free, you know,
I mean, if you really look at it, plus the
tax benefits. Now, for the audience at home, before we
take a break, define FAHA government. I mean, there's a
lot of acronyms that we're kind of familiar with, but
I'd love to kind of get a refresher. What's the
difference between an FSJ and a traditional.
Speaker 5 (14:42):
So the FAHA is Federal Housing Association. It is government
and backed by the government, so therefore there's more leniency
on the guidelines. Right, So basically, your to income could
be higher, so it allows you to qualify for more.
Where conventional and traditional they have they follow the fandy
MA guidelines, which at that point they're a little more
(15:03):
stricter on the DTI, but like I said, they're a
little bit more lenient on what the property actually looks like.
Speaker 3 (15:09):
Very cool.
Speaker 1 (15:09):
Yeah, you know, for me, that primary residence that I
bought is obviously where I lived, but where I'm looking
at it now, And maybe this existed back then, but
again I didn't have somebody like you. I'm looking at
this from an investment standpoint. Guys, So what he's talking
about income requirements. You may think like, all right, well,
you know, mom and dad will give me like fifty
grand or a hundred grand, or I could partner up
with somebody that has that capital and I have decent credit,
(15:30):
but I don't have the income. Well, here's the cool
thing about a double duplex, triplex four plex. Rents are
through the roof. I don't know, if you're living in Alaska,
it's probably even gone up high, right, So when you
calculate the rents that you can be charging in these
other units, essentially that's your income. So if you're only
making fifty grand, one hundred grand, whatever that number is,
you can add on if you're charging three grand a
(15:52):
unit for the other three. You just added on another
one hundred and twenty thousand plus income and that's legal,
and you can legitimize that. You can show it goes
towards your income. You know, you haven't booked yet, right,
so it really gives you guys. You know, for those
of you that are hustlers and grinders, I mean, I
would be on the lookout, reach out to your brokers,
let them know that you're in the market. And the
catch is you got to be living in one of
(16:13):
the units. There's little workarounds on that in the gray area.
But at the end of the day, you know, if
you're young and you want to get up in the game,
what I would say is, man, find a duplex, triplex,
four plex, run out the other three, rehabit in a
year or two, cash out REFI because at some point
rates will theoretically drop and now you pull that equity
back out from Grinson repeat. We're going to talk about
that in a later segment. I'm going to take a
(16:33):
break right now. When we've come back, I want to
ask you the Financial Friday five. We'll be right back
on Financial Fridays.
Speaker 2 (16:39):
We'll be right back with the Financial Friday five on
Cannabis Talk, one on one's Financial Fridays with the Insider
Investor Tony K. Welcome back to Cannabis Talk, one on
one's Financial Fridays with the Insider Investor Tony K. It's
(17:00):
now time for the Financial Friday five.
Speaker 1 (17:03):
Guess what, guys, It is open enrollment for health insurance.
And if you've heard the past few episodes, you knew
that I did not have health insurance all up until
last year. But now I'm finally in open enrollment. Super
stoked to be working with Clearwater Health. You guys, if
you want better health at better costs, check out clearwaterhealth
dot com. They're going to have a presence at Mjbiscon
as well. This is a brand new group that we've
(17:23):
been partnered up with. Super excited because not only are
the knowledgeable, not only is it cost effective. In fact,
they don't even want your business if they can't save
you money.
Speaker 3 (17:31):
Two things. Reach out to them. If you already have
a plan, show them what you got.
Speaker 1 (17:35):
They're either going to beat it or they're going to
tell you you're already in good shape. And if you
don't have insurance like I did, now why didn't it
wasn't that I couldn't necessarily afford it. It was just
it seemed like such a pain in the ass. You know,
the deductibles were through the roof. I didn't understand the plans,
and then I get something, and then when something was
wrong with me.
Speaker 3 (17:50):
It take forever to see somebody. I was like, well shit,
I'll just go to urgent care.
Speaker 1 (17:54):
But I tell you why, guys, I'm super stoked to
be working with these guys, and they are cannabis friendly,
so you don't have to lie on your application. Hit
him up clearwaterhealth dot com. Now we are back here
on Financial Fridays with my man, Fabian Rabel. He is
the founder and he is the legend in the mortgage game.
He's somebody that I'm going to bring you guys to
educate you. By the end of the show, you're going
to know exactly how to get a hold of him
(18:14):
and a couple of events that we're talking about throwing
together to really just educate people. Man, we have nothing
to sell other than education, which is free. Fabian, we
do something here called the Financial Friday five on and
puts you through five questions. You have no idea what
I'm going to ask you, but if you've listened to
the show, you know what they are. So question number one,
my man, what is the best investment you have ever made?
Speaker 5 (18:35):
Best investment I've ever made was building a duplex that
I did when I was twenty six. Basically tore down
the house I grew up in and built two houses
on the lot that my parents said at the time,
and this was in Long Beach, No, this is in
the San gabri roseme.
Speaker 3 (18:52):
No shit, yeah, so did that.
Speaker 5 (18:54):
And then funny thing is I moved my parents to
the front house and basically my grandmother lived in the
back with my great grandmother, and I went and bought
my grandfather's house.
Speaker 1 (19:02):
Well, there you go. So it wasn't necessarily a good investment.
It just felt good because I'm sure they weren't paying
mark and rands.
Speaker 5 (19:07):
No, But it's I mean, it's an appreciation itself. So
that's what you got to look at. There's two avenues
to it, all right. So with I mean, we spent
maybe about four fifty four to seventy five building the boat.
You know, maybe let's let's round up to five on.
Speaker 3 (19:23):
Both you and the tear down. You tore it down
and wear it down.
Speaker 5 (19:27):
Brand new two units, two Spanish style homes, and basically
we spent about five hundred k. I mean, last time
I got appraise, there were at one point six nine
twenty seven.
Speaker 3 (19:37):
And how long was that? This was in two thousand
and four, two thousand and five.
Speaker 1 (19:41):
Okay, yeah, so literally triple the money. You got a
great place to live, the tax appreciation, all of it,
and it's still there.
Speaker 3 (19:47):
So where we're at my very cool. Yeah.
Speaker 1 (19:49):
You know, the first real estate deal that I did,
I still drive by it all the time and I
do the math, and you know, at that time, I
was like, oh, I'm going to make one hundred grand,
and I got out of it, unfortunately, say thing.
Speaker 3 (19:56):
And I think I bought it for like three hundred thousand.
It's like worth one point four.
Speaker 1 (20:00):
I think I was excited that I sold for like
five hundred six hundred thousand, but you never know, you know, well,
I take that back. The other thing about real estate,
right is always goes up. I mean unless you're buying
just in a shitty, shitty area, but it'll dip, it'll
kind of creston valleys, but it always ends up.
Speaker 5 (20:14):
But you'd be surprised even if you bind an area
that's you know, not in the greatest areas, there's ways
to turn that around. I mean, you can make that
into a Section eight property where you're getting paid by
the government eighty percent of the rent that you're charging
and you're guaranteed that money direct posit from the government.
So there's avenues of being able to leverage those type
of things too.
Speaker 1 (20:32):
Yeah, man, And I think that's one of the things
I'm really excited about, not just for the audience but
for myself too, because.
Speaker 3 (20:39):
You tapped onto really well.
Speaker 1 (20:40):
It's like there's so many facets that you can play
these not angles. But if you've educated yourself on what
Section eight is, on the loan programs we're talking about,
on the nuances of you know, everybody's just like, well
I got to live there. I'm not going to live there,
you know. But all you need is you know, some
utility bills and make a pit stop and occasionally how
the place could be empty and is probably still better
for you to do, you know what I mean as
a primary residence. So there's so many little things that
(21:01):
you can do that if you have the right group,
the right educating group, and what I like about what
I want to create with you is I just want
to trusted source where people can tap into and ask
those kind of questions because even today, I mean, I
knew about this program, I've read everything on it, but
I wanted to hear your take on what the catch is,
what the nuances is, and you know which one makes
more sense they've had shape portion or the conventional. So
(21:22):
question number two on the Financial Friday five man, is
what is the worst investment that you've ever made? Now,
this could be into a business or a partner or
a person.
Speaker 5 (21:33):
Sometimes trusting the wrong people, you know, just doing a
little bit more due diligence.
Speaker 3 (21:37):
Yeah, I know that.
Speaker 5 (21:40):
I think that's probably what's been mean the asked more
so than anything.
Speaker 3 (21:44):
Ever, so trusting the wrong person right pretty much. You know.
Speaker 5 (21:49):
I've always been taught you go into things good faith
and you always put your best foot forward, you know.
And I learned at an early age. The first person
actually went business with he did.
Speaker 3 (22:01):
Me dirty like bad.
Speaker 5 (22:03):
Yeah, you know, I ended up losing six figures with him.
I was only when it all happened, I was what
twenty eight years old. I had my first kid that
was a couple months old. And basically, you know, finding
out I was going to literally get bent over. Yeah,
you know it. It made me realize a lot of things.
Speaker 3 (22:24):
It made me learn.
Speaker 5 (22:27):
Do a little bit more due diligence and not to
always have your eggs in one spot.
Speaker 1 (22:31):
Yeah you know, And you know, you're remind me a
lot of myself. In the years that I've known you, Like,
we've gone through a couple of good and bad partnerships,
and I think guys like us are always going to
still have a good heart, big heart. There's going to
be guys that take advantage of that. And I think
now what we're realizing is that damage is just last.
I don't think I'm ever going to have jaded. I'm
always going to be in business with someone. Recently, somebody's like,
(22:53):
why would you want to go in business with your friends?
And I was like, fuck, am I going to do
go in business with my enemies?
Speaker 3 (22:57):
You know?
Speaker 1 (22:57):
So yeah, I want to hang out with people that
I do is it's with you know, whether it's Skuy's
here at the studio or somebody like yourself or my
partners on Insider Investor Club. Like, I don't want to
do business with my enemies, but I do get fucked
over with my friends occasionally.
Speaker 3 (23:10):
Guess what, I figured out they're not the right friends, right.
Speaker 5 (23:13):
It just gets down to the point where you got
to make sure you're on the same path. Right then
you have the same the same beliefs that lines up.
I think you're pretty much in in.
Speaker 3 (23:25):
A good path.
Speaker 5 (23:26):
I mean, if something starts acting up or whatnot, you
got to bring it up to light right away and
not hold it. That's the one thing. I think when
you're doing business with friends, you kind of like sit
back a little bit longer than you normally would. So
I think that's the one thing. Now for me, it's
easier to be like, hey, what's going on with X
y Z instead of like holding my tongue a.
Speaker 1 (23:44):
Little Yeah, no, I hear you on that. Now, talking
about yourself, let's just be selfish for a little bit.
What's the best present you ever bought yourself?
Speaker 3 (23:51):
Best present I've ever bought myself?
Speaker 5 (23:55):
Uh, I want to say my first house. Okay, literally,
it was my grandfather's house and it was the best
present I ever bought myself. But then you're gonna laugh
because it was the worst financial decision.
Speaker 3 (24:08):
Why is that? Because I wish.
Speaker 5 (24:09):
Someone was leading me in the right way and telling
me it was my first house and I should have
bought units.
Speaker 3 (24:15):
Dude, I love that.
Speaker 1 (24:16):
Like literally every answer right now is real estate oriented,
and I was teeing you up on that. You're kind
of modest, but it's there's another little congratulations I owe.
It's like, you know, you just had your daughter's kin snira.
Oh and I know that was not cheap. So that's
another little proud Papa present. You'll probably a ply yourself.
She's my like she's your angel.
Speaker 3 (24:32):
She's my wife's everything. You know.
Speaker 5 (24:34):
It's funny because a lot of people are like, oh,
you know, something saved your life, and she just saved
my life.
Speaker 3 (24:40):
Period.
Speaker 5 (24:41):
There was a moment in my life where if I
didn't have her, who knows.
Speaker 3 (24:44):
Where I would be here right now. You'd be a
train made a train wreck, or made a bad decision.
You know.
Speaker 5 (24:49):
My dad made me realize, you know, when I was
going through that ship with my first business partner, Like,
don't get me wrong, I mean I literally want to
get up and do some damage. My dad made me realize,
do you want someone else raising your daughter? Do you
want to raise it with yourself? And I always kept
that in mind with everything that I do, you know,
because she is my pride and enjoy She everything I
(25:11):
do and try to do is to make her better
than myself.
Speaker 3 (25:16):
That's COVID.
Speaker 1 (25:17):
Yeah, no, And I think that's what the world is
lacking these days, is you know, real men that step up,
whether you're married or not. But so many fathers just
are are not there. But I know every time I've
talked to you, it's somehow or no that comes up.
Right now, you're showing me pictures of the contineers, and
congratulations on that, all right, man? The question number four,
what's the best present you've ever bought somebody else?
Speaker 5 (25:40):
That's a hard one, you know, probably see Yeah, Honestly,
to be honest, you know, it wasn't just myself. You know,
I can't take full credit on that for myself. Like
you know, her mom was big on everything. Everybody that
did it, that helped with everything. So it wasn't something
(26:01):
like I say that I did on my own. But
I would say it's probably the greatest gift I've given
because the joy and the like the happiness I saw
her have that night, you know, she was smiling ear.
Speaker 3 (26:12):
To ear she like, she had a blast.
Speaker 5 (26:14):
So and it was all about her because a lot
of traditional is they have like you know, they have
the group dance and everything of that sort, and you know,
it kind of takes away from you know, the it's
her moment. So basically, you know, the thing I told
her was, look, it's all about you today. So at
that point, you're not gonna have a champlaine, You're not
(26:35):
gonna have the group or the dance, Like, this is
all about you. So what do you want to do
and how do you want to do it? And we
it was a beautiful day. We were able to have
it at the Sentinity to Racetrack, which is phenomenal, and
you know, it was just a special day.
Speaker 3 (26:50):
That's cool, man, that's really cool. All right, man, we're
almost done here.
Speaker 1 (26:53):
Question number five on the Financial Friday five is if
you could buy one thing money is not an object?
Speaker 5 (26:58):
What would that be one thing and money was not
an object? Ship, Let's go back to real estate because
at that end of the day, that's just going to
generate more bit and more.
Speaker 3 (27:09):
Money, like a massive just a massive apartment.
Speaker 5 (27:11):
I stay, I stay in my lane. You know, I've
been in the industry for so long. A lot of
people try and do so many different things. And you know,
one thing I was always taught was when you try
and do too much, you don't become an expert in
what you're really truly trying to become in.
Speaker 3 (27:28):
So you have to it some in some aspects, jack
of all trades, master of none exactly. So at the
end of the day, I do I would buy? Would I?
I know?
Speaker 5 (27:38):
And I would literally, yeah, I would go with some
type of multiple apartment complex or something that's just going
to generate a ton of residual income.
Speaker 3 (27:47):
That's funny.
Speaker 1 (27:48):
My mom always says, you know, why didn't you just
stay into one thing, you know, whether it was financial
biasing and then real estate or this and that, And
I'm like, Mama, it is then they gets money. So now,
you know, one of my least favorite questions that people
ask me, it's like, oh, what you do? And it's like,
you know, at the level that we get to, it's
like it's not an easy question to answer, So it's
more like what don't I do?
Speaker 3 (28:06):
Right?
Speaker 1 (28:06):
So, now, if I just want to kind of mess
with someone, I just say I'm I'm a delivery driver
for Dominoes.
Speaker 3 (28:11):
And then I see the reaction. Right, you quickly forgot
who the gold diggers are. Who's actually interesting.
Speaker 5 (28:16):
What you have to say?
Speaker 3 (28:18):
Absolutely all right.
Speaker 1 (28:19):
Man man, Well, when we come back from this next break,
I want to hear a little bit more.
Speaker 3 (28:22):
About how people can get a hold of you. Let's
talk about some of.
Speaker 1 (28:24):
The joint events we want to do, and I want
to dive into a little bit more about what next
steps somebody could take right now if they want to
take action or anything we talked about.
Speaker 3 (28:31):
We'll be right back on Financial Fridace.
Speaker 2 (28:32):
We'll be right back with more Financial Fridays with the
Inside Investor Tony K. Make sure you follow Tony at
the Insider Investor. Welcome back to Cannabis Talk one on
ones Financial Fridays with the Inside Investor Tony K. Make
(28:54):
sure you like, follow and subscribe to.
Speaker 3 (28:56):
The show now.
Speaker 1 (28:57):
Listen up if you're on the East coast, West coast,
South coast, North coast, if there's such a thing. Cannabis
Talk one on one is parted up with Master Mentors Live.
We're going on tour, guys. The first events are coming
up here in about shit about a week. We're going
to be in New Jersey and New York. We're in
the East coast first that we're going to Atlanta, Dallas.
Check it out Mastermentorslive dot com. If you've ever wanted
(29:18):
to meet us in person, if you've wanted to get
an education in the cannabis space, whether it's on the
media side with our affiliation on the magazines, the international
magazine we just have, if you've ever ever wanted to
white label your own brand, if you ever wanted to
start your own dispensary, your own grow this is your
one stop shop for anything cannabis education. Master Mentors Live. Guys,
we're going on tour. I cannot wait for that. We
(29:40):
are now back here with my mant Fabian.
Speaker 3 (29:42):
Fabian.
Speaker 1 (29:43):
We've been talking about how people can get their money
game right using real estate now, unlike traditional real estate
where you've got to have hundreds of thousands of dollars.
I love what we're going to be rolling out with you,
which is basically showing people how for literally ten grand,
twenty grand, thirty grand, they could buy their first house.
And guys, if you think that's a a lot of money,
let me let me just explain to you. I've been
where you're at I've left paycheck to paycheck. I've bartended
(30:05):
flip Burgers, I've worked at Olive Garden, Little Caesar's Target.
There is not a job I haven't held. Most of
them were restaurant oriented before I got in this game.
But I'm going to tell you right now, there's a
lot of people that believe in you. If you have
the right plan, if you have the right real estate,
there's always money to be found. There's always somebody willing
to partner up with you, JV with you. And these
are all the things that that Fabian and myself can
(30:27):
kind of really educate you guys on and just give
you the strategies. We're not here to charge you by
the hour. We're not here to sell you some kind
of a mentorship program.
Speaker 3 (30:35):
You know.
Speaker 1 (30:35):
Really what we want to do is build a tribe
of people that can go find real estate, buy real estate. Hell,
we can do that shit together, you know, on a
JV side, Fabian, if somebody's sitting at home right now,
I want you to break down two categories. You got
somebody at home right now that's got maybe about fifty grand.
They make decent income, they got decent credit, They want
to get in the game what can they do to
buy their first income producing property?
Speaker 5 (30:56):
So what I would do, Like I mentioned earlier, you know,
I bought my first house. It was one of my
private joys of moments, but it was also financially not
the right move right. The reason I say that is
when you buy a single family home, you have to
live in it as a primary You can't generate income
from it. So what I like to do and talk
(31:17):
to my first time buyers, my younger clientele, is we
look into buying three four units leveraging FHA.
Speaker 3 (31:24):
What do we do?
Speaker 5 (31:25):
We put three and a half percent down on those
three to four units. You have to live technically in
one unit for twelve months. The other two to three
units are generating income for you right the monthly rent
which typically two of them are going to take care
of the mortgage for you. The additional one is going.
Speaker 3 (31:43):
To start creating cash flow.
Speaker 5 (31:46):
And then after the year, then you go ahead and
make your next move right, which what I tell my
clientele is after that year, you go and you go
conventional and you go buy at least two units conventional wise,
there's ways to be able to do that two years
with five percent down you've created six doors with eight
and a half percent of the total cost right for
(32:09):
down payment. That's not including the closing costs, but for
the down payment purpose. Right then after that there's other
steps to create you know, more doors. Within the next
year or within the next six months, you go buy
a second home, which you could make that second home
also an airbnb because you'd buy it in an area
that would have some type of traffic right like out
(32:29):
here I would say, like Big Bear or something like
of that sense, and or Palm Springs. So now you're
running that out weekly. That's creating money for you and
everything like that. And for all those doors, you're still
under twenty percent yea of all that.
Speaker 3 (32:44):
You know.
Speaker 1 (32:44):
In the opening segment, I discussed you know, if somebody
tells you should be maxing out your four own K
and why I think that's awful advice. And I touched
on this in the last show. But essentially a four
one K guys, there's nothing more than a savings account
if you will, that is tax sheltered, you know, meaning
no matter how much money you make in that account,
they can't tax you until they take it out. But
this big conception misconception, if you will, is when you
(33:07):
work for any company, be it a fancy company like
a Boeing or North Krubman, or a Target or Little Caesars,
doesn't matter. Most companies will offer a four to one
K plan. But there's a misconception that by investing in
that you have some kind of a guaranteed retirement. All
it is is a basket of garbage mutual funds guys
that are typically heavily laid in with fees. There's restrictions
(33:28):
on you taking that money out. But more importantly, you
only have the option of maybe thirteen to fifteen different
mutual funds. So the first thing I tell people is
if you have a four to one K, you should
only put money in what your company is matching it.
So if they're matching up to two percent, only put
in two percent. Any other penny you're putting into a
four one K is the worst, And I challenge anybody
to debate me on that. There's the worst investment you
(33:48):
can make. Yeah, trillions of dollars are in freaking four
one ks right now. Let's say you leave that company.
You now have cash in a four one K, that
four to one K you need to roll into what's
called If it's over twenty five thousand dollars, you should
roll it into a self directed IRA.
Speaker 3 (34:02):
If it's less than that, you should roll.
Speaker 1 (34:03):
It into like an e Trader Meritrade and just buy
a couple of blue chips or brands that you know,
like Amazon, Google, Tesla, whatever.
Speaker 3 (34:10):
Just sit on it.
Speaker 1 (34:11):
But once you have a meaningful on account amount in
a four one K and it's over twenty five thousand,
roll it into an IRA, and then we can show
you how to actually roll it into a self directed iray.
Now you can actually buy a freaking real estate inside
of that, So instead of a four one k oning
dokship mutual funds, you don't know, own real estate inside
of that. And that's the one tip that I can
add to you.
Speaker 3 (34:30):
This.
Speaker 1 (34:30):
The second thing, and I do have a question for you,
is back then, I remember you can use up to
ten thousand dollars of your IRA tax free as a
down payment for a primary residence. Do you know if
that could qualify for these programs as well?
Speaker 5 (34:44):
Or is that kind of you could always pull out
what the IRA allows you to pull out.
Speaker 3 (34:49):
Uh huh, that's it. Then it's just gosh.
Speaker 1 (34:52):
So if you do have money in an IRA before,
you know, an example that I just said, where you
have less than twenty five thousand, the first ten thousand
you can take out as long as you're using it
as a down payment on the house. There's your first
hand grand right there. Right, So I mentioned there's two
categories of people at home right now the person who's
got about that one hundred k. Now, let's say you're
like some of my engineers here in some of the
studio that are interning here, they're just getting to the game,
(35:13):
they're making their first bucks. What can they do to
prepare because I know you and I started with no
money down.
Speaker 3 (35:18):
I mean that's how we got in the game. But
what can they do and what are the plan?
Speaker 1 (35:22):
What are the steps they can take to kind of
follow on the footsteps and eventually own those doors?
Speaker 3 (35:27):
What should they be focused on?
Speaker 5 (35:29):
So I would say, have a game plan of how
much you're going to be saving a month, right because
what comes down to is down payment and closing costs. Now,
your realtor could always go back and you know, requests help.
Right now, in this type of environment in our industry,
they could go back and ask for closing costs and whatnot.
But typically when the market's hot and everything like that,
(35:51):
that's pretty much not seen. But I would say having
the game plan of how what you're looking for, what
area you're looking for, so you could start putting a
game plan as far as saving the down payment, that's
probably the most important part. Right. We could always go
back and leverage a gift or whatnot for other avenues
of the closing costs, and but I think that's the
(36:15):
most important part. The thing is that what happens nowadays
is everybody wants to you know, you get a job,
you start making a little bit of money. And don't
get me wrong, I went through this shit too, Like
you start wanting you want a ball, you want to
be flashy, you want to let people know I'm making
some money. Well, I fucking wasted way too much money
doing that shit and paying fucking everybody's bar tab. Yeah,
then putting money away and investing it and like in property,
(36:39):
which which is what I should have done, right, I
learned that the hard way. So what I do now
is that when I sit with younger individuals or anybody
that's just starting to look like I literally I'm really straightforward.
I'm like, I don't I don't hide anything in that aspect,
or I tell them I've I've ruined my credit in
the past. Everybody thinks, you know, Latinos always told your
(37:00):
credit is the most important thing in the world, right, well,
then you could rebuild that. Like your parents make you
feel like, oh, you can't do that, well, yeah, you can't. Right,
there's certain things that we've been taught and told that bullshit.
And I went through that too with my parents being
first generation here. So the biggest thing was I was
(37:20):
out trying to be flashing instead of saving money.
Speaker 3 (37:22):
Yeah, and you're going to.
Speaker 5 (37:23):
Have people tell you, oh, well you just don't want
to hang out, you don't want to do this, you
know what, Screw them at the end of the day,
because you're trying to set yourself up right.
Speaker 3 (37:31):
So I think that's the.
Speaker 5 (37:32):
Biggest thing is knowing what you want to do, setting
the forefront and the laying out the road on how
you're going to get there and sticking to it.
Speaker 1 (37:42):
And you know it sounds cheesy, guys, but I and
I was freaking awful at doing this. But then I
noticed that the people that were actually becoming way more
are compressing time and moving a lot faster than I
was in their accumulation of wealth. We're doing this, and
it's exactly what he's saying. By taking a step further
is having a written plan.
Speaker 3 (37:59):
Right.
Speaker 1 (38:00):
What he's saying is, you know, know how much you
can save if you're making three grand a month and
you can afford to save three hundred dollars exactly ten
percent every month, just make it automated and have a go,
but have it written down and define it out. Be like,
all right, this is going to be twelve months. For
twelve months, I'm gonna be put inside three hundred dollars
a month. Here's what I'm going to have at six months,
at three months, at nine months, at a year. And
(38:20):
then you have a metrics And there's something weird about
the brain. I'd love to hear somebody that knows way
more about the chemistry of it. But something happens when
you put pen to paper and you put a vision
on that paper and you're revisiting that on a morning,
whether it's meditating.
Speaker 3 (38:33):
Would you agree to that absolutely one hundred percent. It's
kind of crazy.
Speaker 5 (38:36):
Everybody likes to use apps, everybody likes to you know,
put notes on their phone. Yeah, I'm always with the notebook. Yeah,
Like I'm really old tom about that. I sit down
with clients and I bust out a notebook and I'm
writing down and they like look at me like that's weird, dude.
Speaker 1 (38:49):
I cannot tell you how much I feel the same way,
and it's it's weird, like even to this day, like
I feel like I need to dictate if somebody is
going to type long but just scratching down in that
little notebook and flipping back that. So I don't know
what it is about that, but it absolutely worked. Faban,
what what's the best way somebody can get ahold of you?
If they have a direct question or if they want help.
Speaker 5 (39:07):
You can always reach me uh by email which is
Fabian dot Reball at model mortgage dot com. Models m
O T T O Mortgage m O R T G
A g E dot com you can find me and
Fabian uh f A b I A N dot r
U B A L. You can find me on Instagram
(39:28):
at Fabian dot reball. You can find me on the
Facebook at Fabian Reball. Basically, d m me send me
a message like we're talking about I'm all about education
and everything in that aspect. So that being said, you know,
sitting down and talking to someone and helping them put
a game plan together, Like, there's no we don't charge
anything in that aspect.
Speaker 3 (39:48):
Like we have to earn people's business. That's the other
thing in.
Speaker 5 (39:50):
Our industry that a lot of people expect is you know,
if you speak to me, you have to go with me.
I don't believe that, Like, I'm a big believer that
we got to show you our work. We got to
earn our business, show you that what we say we're
going to be able to do for you, we do
for you. I'll put my money against anybody with my team,
we think.
Speaker 3 (40:09):
Outside the box.
Speaker 5 (40:10):
We don't only work with first time buyers and newbies
in the sense of you know, looking to do stuff.
I mean, we have a lot of investors we work with.
You know, you mentioned something about earlier about judging someone
the first time you see them, Like if you meet
one of my investors, like you would meet him and
you'd be like, nah, that guy can't be worth much.
(40:31):
Guy owns like twenty million dollars worth of property out
in LA and he looks like like, literally, I kid
you not he looks he's an old Hispanic gentleman that
you know, you you think he was a gardener.
Speaker 3 (40:42):
You don't want to if you guys want to check
out a book.
Speaker 1 (40:45):
One of the books that made me change my mind
frame on that was The Millionaire next Door. And after
reading that, I realized how many people I do pass
on a given basis and you know, uh seeing seeing
them in a beat up car, and that dude's probably
got like eight figure bank account. Absolutely, I mean you
probably see that more than I do. And you're right,
you know, going through the financial services game, sometimes it
was the person who was just the crummiest looking out
(41:06):
fast they'd come in and.
Speaker 3 (41:07):
That dude had a bigger bankroll than everybody come by in.
And they're the best lines.
Speaker 5 (41:11):
They're the most loyal, best clients there are, you know.
But like I said, you can reach me on that.
My team will help you guys in any We'll set
everything up. That's cool, And like you said, let's see
what we could do also about putting some some dates
together as far as.
Speaker 1 (41:27):
Yeah, you know, what I'd love to do is two things.
Because obviously we have a nationwide audience, but the good
majority of them are here in southern California. So I
think what Fabe and I would like to do, and
again this is free of charge. I think after MJ
Biscon and some of that hooplod dies that we got
going on, I think I'd like to set up something
where we just invite some listeners over to your office
or even here in the studio. We give you, we
break you down here for your first time home buyers
(41:48):
and investors that want to just get in the game
want the plug on, not just the investment side of it,
the financing side of it, the deal flow, because you
guys assist.
Speaker 3 (41:56):
With all of that.
Speaker 1 (41:57):
You know, somebody may say, where can I find a
perfect four play? So I think just with the networks
that we have, that's something that we can provide. So
that'll be here in Long Beach. The other thing I'd
like to do is for people that obviously not local
to Southern California, because you guys can lend in all
fifty states and there's obviously real estate everywhere, so we
can do a live zoom as well.
Speaker 3 (42:14):
And again these.
Speaker 1 (42:15):
Would be free. This would just be a give back
to the audience. If you guys are interested in that,
reach out to me. And my dms just put in
the word real estate. I'll have our team look that
up get back to you with those dates. We don't
have them established it, but we're probably thinking towards the
end of the year, maybe even early next year.
Speaker 3 (42:30):
Anything else you want to add before we leave, brother,
not much, man, I appreciate it. Thank you very much.
Speaker 1 (42:34):
Shout out to shout out to Sammy Knight and Ashley
as well. I know your whole crew there. There are
people that I've always wanted to get to know more
and they're unfortunately not here on the West Coast, but
I can't wait to have them on the show and
can't wait to have you back.
Speaker 4 (42:46):
Man.
Speaker 1 (42:47):
I have a feeling that's going to be a long,
productive relationship that we have. And before I leave, guys,
you know, this may seem easy in front of the camera,
but there's a whole army of people to make this happen.
I want to give a special shout out and thank
you to, of course Blue and Joe Grandi, but the intern,
the staff here, Adrian Emir, the two, alex Is Mondo, Madison,
Teddy the show Dog, Daniel O'Connor, Elbert Kinky, Kim Baxter,
(43:07):
Beach Barcelar, Ali Muffins Sunday, Cassie Ruby, Goldie Brother, Pitt,
Mark Carnes, Chris Frankino, Jennifer Erica, Elvis you guys, thank
you so much. Means a lot to me for listening
to Financial Fridays here on Cannabis Talk one on one Booth,
Flu and Joe Grande, the world's number one source for
everything cannabis. I'm Tony Kay, You're Insider Investor and you
guys can always find me on Instagram at the Insider Investor.
I'm going to see you guys next Friday. Remember keep
(43:29):
that wallet tight, your mind right. I look forward to
seeing you guys on the inside.
Speaker 3 (43:32):
See you soon.
Speaker 2 (43:33):
Thank you for listening to Financial Fridays with the Insider
Investor Tony Ka on Cannabis Talk one on one, the
world's number one source for everything cannabis,
Hosts And Creators
Joe Grande
Marc Wasserman
Craig Wasserman
Christopher Wright (Blue)
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