Charles Noonan Breaks Down The 'Property To Passive 5 Day Challenge,' Landbank Properties + More
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Speaker 1 (00:03):
What's with the angela Yee on a Wealth Wednesday? So
you know what that means. Stacy Tuesday is here.
Speaker 2 (00:08):
Happy Wealth Wednesdays, everybody, and we are so excited to
take you way up. We have a special Juneteenth land
grab and an incredible person who's leading the way and
Charles Noon and Charles, thank you so much for being here.
Speaker 3 (00:22):
Thanks for having us. We appreciate it.
Speaker 1 (00:24):
And June teenth is on a Wednesday this year, if
I'm not mistaken, right.
Speaker 2 (00:28):
Yes, and this year it's going to be a particular
Wealth Wednesday.
Speaker 3 (00:31):
We are planning on getting busy June.
Speaker 2 (00:34):
Teen, you're getting busy.
Speaker 1 (00:35):
Talk to us about it because you know, all right, no,
tell us about what the plan is. And then I
want to tell you my thoughts and my experiences with
the Lamdbanks, So go ahead.
Speaker 3 (00:44):
Oh yeah, you know, I send you I DMD you
a couple of times, okay, because we have properties close
to each other.
Speaker 4 (00:52):
Yeah, all right, perfect.
Speaker 3 (00:53):
All right. So the plan for June teenth this year,
I'm doing a five day challenge where we are challenging
individuals to learn how to buy land and Lamdbank properties
over the course of five days, where consecutively we're going
to teach how to pick, purchase, and profit from land
and lamdbank properties.
Speaker 1 (01:13):
Okay, So explain to people listening because they may not know.
Because I've actually purchased property from the land bank before
in Detroit, so I know how that works.
Speaker 3 (01:22):
Yep.
Speaker 1 (01:22):
But I want you to explain to people what land
bank properties are because a lot of cities.
Speaker 3 (01:26):
Have this awesome. So I'll explain it in two parts. First,
I'll explain what a landbank is, and then what a
lanmdbank property is. Okay, So, landbanks are government entities whose
sole purpose is to turn problem properties into properties of
productive use. Problem properties can be identified as vacant, abandoned,
and dilapidated houses. So landbanks will typically go into a
(01:49):
city like Detroit, for example, and they'll make an agreement
with them to sell these properties pennies on the dollar,
as you know, right some most start at a thousand
dollar and the exchange is that they're going to sell
them to investors or individuals that want to turn them
back into properties of productive use. They sell them for
(02:10):
really low amounts of money, and the benefit to the
county is that they get to have the properties back
on the tax roll. They ask you to turn on
the water, the gas, the electric and renovate the property.
And in turn, what that does and how it creates
that win win situation is as the vacant properties get
(02:32):
occupied and renovated, the price of the value of the
houses go up and the crime rate goes down.
Speaker 1 (02:38):
Okay, and these are all important things. And I want
to point out just to your point, when you buy
these properties too from the land BAK, a lot of
times they have auctions, I know in Detroy online it
would be like a weekly auction and they'll let you
know what's going up so you can jibe buy the
neighborhoods because it's also important to see sometimes what these
houses look like. And I think for the city it
is less expensive and for the neighborhood for them to
(03:01):
actually sell it to people who will fix it up
than to have to you know, knock it down and
demo it and all of that.
Speaker 4 (03:08):
So I think it benefits.
Speaker 1 (03:10):
And it's also a certain amount of time that you
have to fix it up, so you can't just purchase
a property and sit on it for years and you know,
let it sit there, because I think that was also
that would be concerning.
Speaker 3 (03:22):
And so yeah, so they make it to where and
each lamdbank that makes these agreements with the counties, they
make it according to the community goals. So, as I
was talking to Stacy, some lamdbanks will ask that you
show proof of funds to renovate the property. They want
you to show proof of licensed contractors and things like that.
(03:43):
Those counties typically have very few lampbank properties, and what
they want to do is kind of preserve the goals
of the community in Detroit right where it's like, hey,
just get these things occupied, get people in them, get
them renovated. The only thing they ask is that you
have one thousand dollars to at least win a bid
on the property, and they do bid, so it's an auction,
(04:05):
so they do go a little bit higher, but they
all start at one thousand dollars and then they ask
within six to twelve months, they asked that you bring
it up to certain cold and do certain renovations that
are required.
Speaker 1 (04:17):
Right and you know, even for myself, it definitely took
longer than that. But as long as you're checking in
and letting them see the work that's being done, then
they can know at least you know you're working on
it and if you don't, you'll get black tickets.
Speaker 4 (04:29):
And then yeah, they don't play.
Speaker 2 (04:32):
A backup, backup, backup. Tell people how who you are
in this space? Charles's Charles is the founder of land
Bank Team and he is the author of Hacking land
Bank Properties. And he is the host of the land
(04:52):
Bank Show. So he and Angela are mister and missus
land Bank.
Speaker 4 (04:57):
I haven't done as much as he has.
Speaker 3 (05:00):
It's crazy.
Speaker 1 (05:02):
You learned a lot just from the process of, you know,
having to go through that. Because He's right, some of
those properties, when you bid on them online, some of
them are going for like three hundred thousand dollars.
Speaker 4 (05:12):
They get up really high in the in the bidding.
But some of them. I got one for one thousand
dollars because no one bid on it. Yeah, and so, and.
Speaker 1 (05:21):
I couldn't believe it because you know, you have a
same amount of time and you're watching it transpire and
you're like, please, don't let anybody bid on this property.
Speaker 2 (05:27):
Charles, How does land Bank Team uncomplicate this for people
and provide a community? Because I'm sitting here like I
want to do what I want to do, but I
don want to do it by myself.
Speaker 3 (05:35):
So here we'll take a small step back. Right. So
I'm Charles Newton and the founder of Right. We'll just
start from the beginning, right, I said.
Speaker 2 (05:46):
Okay, I said, that's your autumn of your company. You
got into this very early and had success very early.
Speaker 3 (05:52):
Yes. So in short, Right, I founded this team because
my experience with the lamp Bank and lambbank properties at
first was hard as hell. Right I got in, I struggled.
I had to go through several contractors to get my properties.
And if you don't have a relationship with the lamdbank,
(06:12):
you feel like they're on top of you, pressuring you.
As you do a couple of properties, you realize they're
they're to support you, right, So I went through this struggle,
and so I started to get them for my kids.
That's what really made me look at other houses and
other states. Because Brooklyn gentrification, the property values went sky high.
(06:34):
I own the Brownstone, and as it started to appreciate
like crazy, I'm like, all right, what about my kids, right,
they're regular lazy athletes, basketball kids that yeah, yeah, yeah,
he knows.
Speaker 4 (06:49):
What he knows what I'm he was supposed to be
taking pictures.
Speaker 3 (06:52):
He knows what's what I'm talking about, though he knows
what's what I'm talking about. So I'm like, I gotta
find a way for the kids, right, I have to
pave the way so that they could afford to live
in Brooklyn like I do, and don't have to move
really far. So I went online and I'm looking for
just regular, inexpensive houses that I could just buy. And
then I saw the Detroit Lampank had houses for one
thousand dollars.
Speaker 1 (07:12):
I was like, it used to be five hundred. At
first they started at five hundred.
Speaker 3 (07:15):
I don't know that far back I saw with a thousand.
I was still happy at a thousand. So Stacey, I'm like,
all right, I could just get like five for this one,
five for my other son, and then when they graduate college,
they'll have like a cash flowing asset that will afford
them to live in Brooklyn with the new prices. And
then going through it, I had this level of resilience
(07:38):
because it wasn't like it was for me an extra cash.
It was like, this is for my kids. I have
to get through this. So as I'm struggling with contractors,
they're disappearing with deposits, they're not seeing the vision they're
not seeing. I'm from New York. I could bring a
thousand people and we do. They're like, dude, just give
me that five hundred and I'm out of here, right.
So going through the struggle made it to like four
(08:01):
or five properties, and then I got in pretty good
with the Lamdbank. They offered me the opportunity to buy
a block of properties on Wayburn Street, and I bought it.
But everybody from New York was like, dude, tell me
how you're doing it, Like you got to introduce me
to it. And I was like, man, it ain't what
you think. Like, I can't bring y'all. And I'm kind
(08:22):
of getting ripped off and going through it and paving
my way. So I they forced me, right. My best
friend jumped in a couple other friends, and I'm like,
all right, so now we got some company, maybe we
could start to figure things out here. Because the city
was it's such a historic city. The houses are beautiful,
they're huge, They're way bigger than what we get in
(08:43):
New York. They have backyards, and I'm just like, if
we could find a way where we could all buy
these properties and concentrated areas, we could force our own appreciation.
We can provide safe places for people to walk up
and down the street. Because in certain cities they didn't
turn the lights on. So if there aren't enough occupied
(09:06):
houses on certain streets, they wouldn't turn the lights on,
so there's ridiculous that night. And then if they're like
two houses. And this is what really touched my heart
and turned my mission into like one of profit and
purpose because there are some houses where little kids have
to walk by. There's some streets where little kids have
to walk by, like five or six vacant abandoned houses,
(09:28):
the elderly have to walk by, you have animals, just
crime happens there. And it was like, all right, this
is bigger than me just getting a house where I
could get a thousand dollars.
Speaker 2 (09:40):
But that's really taking off. How many people has the
land bank team helped ye? And it's nationwide.
Speaker 3 (09:48):
Yeah, So learning about the Detroit lamdbank, I found out
about the Center for Community Progress and that gives like
the national lanmdbank map where you can identify lambanks across
the country. So we created the team. The team just
grew like crazy and todate we've helped over two thousand
individuals by property across the United States that includes land
(10:10):
and Lamdbank houses and one of them.
Speaker 1 (10:12):
Is right here Afua. So, by the way, she told
that she has thirty one properties or.
Speaker 2 (10:17):
Not thirty thirty one properties.
Speaker 1 (10:20):
Properties, right, So tell us how you ended up joining
the land bank team.
Speaker 5 (10:23):
So, I mean, I had, you know, always been interested
in real estate, and I was just you know, looking
and listening to podcast podcasts. And one morning on my
way to to work on the train, I was listening
to a podcast and it had Charles on there. They're
talking about land banks and they mentioned that you can
get properties for as low as three hundred dollars, and
(10:47):
I just I couldn't believe it. So I must have
listened to that podcast like twice just to make sure
I didn't miss anything. So after that, they mentioned that
there would be a property challenge Charles's hold holst Apart
pretty ch challenge, and I decided to join. I just
literally just I did all my research and I just
let me join and give this a shot. And it
(11:09):
was the fourth day, it was five days. I only
you know, found out on Thursday, Thursday morning, I actually
joined in the evening and I was able to do
Thursday and Friday, and then you know, of course requested
the replays and I was very I just couldn't believe
that you could get property as low as three hundred
dollars or even one hundred dollars or so. So I
(11:32):
decided to take the next step. I joined the mentorship,
which is you know, part of the land bank team.
And it was just you know, a group of us young,
you know, women and men who were interested in buying,
you know, going the land bank route. And Charles broke
everything down. It was a very simple system that he
(11:53):
taught us. How do you acquire the property, what things
to look out for? Once you get those criteria set,
then you know, moving on, how do you register with
the land bank and how do you purchase it? So
he introduced us to a myriad of land banks.
Speaker 4 (12:06):
What are some things to look out for?
Speaker 5 (12:08):
Oh, well, for instance, it has to look for your roadways, okay,
look for the roadways. Also have to look for adjoining
you know, property of this property in the vicinity. That's
very helpful. It means you know, the electricals and so
on already like in the earth, so you don't have
to start from scratch. So things like that were very helpful.
Speaker 2 (12:26):
And the land bank team takes you from teaching you
about the process, learning about the process, and then I
know when I heard about this, I'm like, okay, so
how do I monetize this? Do they teach you how
to do that?
Speaker 5 (12:38):
They do that too. So for me, my personal goals were,
you know, quarter one was for me to get the
knowledge whatever it was to get the knowledge, and that
was joining the mentorship team. And again, Charles is so
hands on literally, like they break everything down and the
coursework and you can always call Charles if you have
any questions whatsoever. It took me a while to buy
(13:00):
my first property. I didn't buy it to tours that
you know, the end of this, but I needed needed
I needed to you know, just go through exactly, go
through what I needed to go through to verify and
then you know, suage my fears. Once you do your
research and your due diligence, it's okay, you know, proceed right.
So yeah, it was it was a simple system that was,
(13:23):
you know.
Speaker 4 (13:23):
Easy enough to did you buy your first property?
Speaker 5 (13:25):
So it's in uh, it's in Arkansas, Okay, Yeah, so
different counties. Some are in Sharp County, some are in
Fulton and.
Speaker 2 (13:32):
The like, yeah, okay, and you want to build on it,
you want to sell it?
Speaker 5 (13:37):
I do so I actually, you know, want to buy
and hold. I want to turn those lots into properties.
I want to build on those properties, and yeah, I
want to My personal passion is I want to find
folks that really need the housing and be able to
provide them, you know, decent affordable housing.
Speaker 4 (13:53):
Okay, So that's my goal. We need that especially right now.
Speaker 2 (13:58):
Yeah.
Speaker 4 (13:58):
Absolutely.
Speaker 2 (13:59):
Yeah. And with the monetizing part of it, you're the
land bank team actually helps people find you know, figure
out what they want to do with it, and you
have partners who help people finance the changes they want
to make gun it.
Speaker 3 (14:14):
Yeah, so that was a big part of it for me. Right,
So people joining the team, joining the community. I came
from corporate America, so it was like, all right, I
could I had money and like really good credit where
I could just buy these properties and invest because I
knew real estate. I knew enough about real estate that
(14:35):
they were smart investments because they were debt free. So
it's hard to falter debt free, right, there's no you
can lose the money you put up, but you're never
going to lose the house as long as you pay
for the taxes and insurance. So as we got team members,
I started to notice the struggle was funding and financing
for renovations or funding to build. So again I just
(14:58):
had to go and just looking at serve the community.
We partner with certain banks, credit people, credit repair people
that help with credit to help people get the funding
that they need. And then there are two companies I'll
mention that are African American driven. One is owned and
I know the liaison that we work with is African
(15:19):
American and he heads their their funding initiatives. One of
them is Prime One Lending that's an African African American
owned bank that looks forward to helping and funding individuals
of color and their real estate endeavors. And the other one,
it's a program called hack HAC. They specialize in new builders,
(15:46):
new and new investors, and new developers. So between those
two they've done a really good job of helping Lamping
Team individuals.
Speaker 5 (15:55):
Chahs.
Speaker 1 (15:55):
Let me ask you about hard money loans because I
know people, and that's why I'm asking you your face,
because I know people who will be like, I want
to do this, but I don't have the credit.
Speaker 4 (16:04):
I don't have this. I just get a hard money loan.
Speaker 1 (16:07):
Now, I want to know what your thoughts are about
hard money lenders, especially for new investors.
Speaker 3 (16:11):
I hate them. Don't do it. Find other other ways,
and there are with the information that's out today, there
are other avenues that we can use to get the
money that's needed. So give you an example.
Speaker 2 (16:24):
This is for renovation. You don't need. You don't need.
You guys are the experts of this. You don't need
credit and all that stuff to actually buy one of
these lambs.
Speaker 3 (16:31):
So here's the best thing to buy a lambank property.
You just need the money you don't need. You don't
need good credit. You don't need good credit. You don't
need like all the It just dispels such a myth
and remove so many barriers for us to get into
real estate. Because you don't need good credit. You don't
have to be on your job for two years like
the railtors ask. You don't need like these progressive tax
(16:53):
returns where you made fifty thousand dollars one year and
if you made forty eight, like, it's no good. You
don't qualified.
Speaker 1 (17:00):
But what you do need is the money to fix
it up right, Alan, And that's where.
Speaker 2 (17:04):
So back to hard money loans, so I can buy it.
Speaker 3 (17:06):
But don't. So here's the concept. And when I started
like this whole movement and initiative, it was more so
surrounded by us creating debt for our future generation. So
part of my slogan initially was we have to be
mindful of creating generational wealth and not debt through real estate,
because traditional real estate you can just be passing on debt.
(17:29):
A lot of people who do hard money loans are
getting properties where they're not like cash flowing properly. They're
cash flowing like two or three hundred dollars. My son,
if I told them, hey, you got this eight proper
eight unit building that you have to manage, it's a
million dollars of debt, but you get like two hundred
dollars per door, he gonna be like what Like nah, Dad,
(17:51):
Like you keep that right? That's not that just doesn't
work for us. It's so risky to lose it foreclosure.
Like it's hard to pass that down. Especially they have
their own lives. They don't want to take on your
dreams and initiatives that you started. It's like sometimes our
children are like nah. However, if I told him, look,
we got an eight unit in Detroit on West Chicago
(18:15):
Boulevard right off of Dexter is paid off. Right, it's
paid off. You just gonna collect eight thousand dollars a month.
His answer to go up be like I bet, Like
like is it?
Speaker 2 (18:25):
Yeah?
Speaker 3 (18:26):
Thanks Bob right. So the concept was like, we have
to start creating generational wealth and making sure we're not
creating debt. So there's also there are two companies in
Detroit that will lend on lampbank houses before you get
the release of interest. One of them is Green Oak Lending,
So they are really good. They have their own partnership
(18:46):
and agreement with the Landbank and they understand that the
land Bank is gonna hold a small interest in the
property until the requirements are met and then they'll do
what's called the ROI, a release of interest. So Green
Oak fund thing will give funding for lampbank properties the
other way that people get funding. And I kind of
like this strategy, but you have to be very disciplined.
(19:08):
So for a lampbank house, you don't need hundreds of
thousands of dollars if you pick it right to do renovations.
Individuals are doing like zero percent interest credit cards for
like twelve or eighteen months. I think that's a good
strategy for lampbank houses if you're disciplined. So let's just
say you card you have, and I tell everybody in
(19:31):
the lambbank team, like, don't spend no money right now,
like pay that credit card off, because the interest is
gonna hit. And you don't want to be in a
situation where you know you're starting to take money, your
credit card hits, now you're not making money, and then
the work becomes harder. So I tell people, just make
sure we try our hardest not to get leans on
(19:52):
the property. Because the concept is we want to keep
these properties in house, we want to keep them in
our last names, and we want to pass them down.
Speaker 1 (19:59):
How do you you know which properties to pick because
a lot of times with the landbank, they'll have properties listed,
but you can't go inside and see, so you don't
necessarily know how much work it's going to take when
it's time to fix these properties up. So when you're
figuring out, when the team is figuring out, Okay, this
is a great property, let's bid on this.
Speaker 4 (20:18):
Let's do that.
Speaker 1 (20:18):
Sometimes it's somewhere where you don't live. What's your strategy
when it comes.
Speaker 3 (20:22):
To that's a great questionsing. I made a small video
and part of the coursework right is to learn to
buy the ugliest house on the prettiest block. Meaning and
the Lamdbanks they do a fairly decent job of showing
you as many pictures of the inside as they can.
And there are several things that we look for. We
(20:44):
typically in Michigan, for example, we really look for the
ugliest house on the prettiest block. We look to make
sure there are no foundation issues. We know you're gonna
have to do new electrical, new plumbing, like automatically without question,
because they've been vacant for so long. And then we
make sure we try to look to see if floors
(21:05):
are buckling or not. We also this is a key,
this is a big one. Right, you can send We
have contractors in Detroit, We've been doing it for so
long that will go and check the water line. Okay,
so you know in Detroit they got the water key, right,
you know, they like they're not supposed to, but they
have their own water key. Like contractors, you find a
(21:26):
good one, they have a water key and for those
that don't know what that is, right, that's the key
that the water company uses to go in and turn
the water on and off. So week send our contractors
to check the water. Landbanks will tell you to go in.
They say there's coldes on the doors, but there's no clodes, right.
Speaker 4 (21:46):
I know people do just if they know a property
is going up, they will go and.
Speaker 3 (21:50):
Like yeah, yeah, yeah. It's kind of like unsmoken for
the for the county.
Speaker 2 (21:55):
The more you say, the more I'm so glad that
this can be done in community and not alone. Tell
our audience about your challenge and.
Speaker 4 (22:03):
The goals and how.
Speaker 2 (22:04):
You've done this with over two thousand people, and you do.
Then you guys have seen videos of it. You guys
like swarm an auction.
Speaker 3 (22:12):
I don't wake credit for those because it looks scary
when you have like this group of people. So we
did a challenge before. We did two challenges before the
first one was Deeds under Trees, where the concept was
for us to finally like, let's give gifts that really
make sense that kids will never forget, that loved ones
would never forget. So the Commissioner of State Lands in
(22:36):
Arkansas cosl dot org has these daily auctions where properties
land starts at three hundred dollars. All right, that's probably
where Full got most of her property is from. Right.
So I did a challenge and developing an area and
Arkansas was the focal point. So that challenge was phenomenal.
(23:00):
I teach them over five days and teach all the
all the like the nuances of buying land. The second
challenge this I am. I'm getting there because but I
have to, like there's one thing that I have to
tell talk about because we don't want this thing to
get out of control. Right. So the second one was
by the block, and it was like where we focused
(23:21):
on buying blocks of properties together as a community, clusters
of properties, and we were going to renovate, develop whatever
we do together. So we actually went to an auction together.
The COSL is online. We actually went to an auction together.
So I'm like me just one individual, the founder of
(23:42):
the team. The challenge went crazy, like over five hundred people.
Two hundred people came out to the auction. All every
person bought property. But what happened was the energy just grew.
It went out of control. Right, So we got these
by the block shirts on on the back it says
making our it says living, becoming our ancestors, wildest dream,
(24:05):
one deed at a time. So now you know the
color of our group. We're in Scranton, PA. I've rented
out a hotel. We're going over like the details of
the auction and how it's gonna work. And they start
yelling by the block, by the block. I'm like wait,
like not like no, no, no, like like I don't
(24:26):
know we could do this here, right. It looks like
the energy was amazing. So going forward, we gotta kind
of like keep it down because it's kind of on
me a little bit. And I don't want to be guilty.
I don't want to be I don't I wanted to
just remain focused on us buying properties.
Speaker 2 (24:46):
Right, you want to be a leader, lead?
Speaker 3 (24:48):
Yeah, So if I'm gonna lead, it ain't gonna be
no rowdy, crazy, wow picking protests, angry type of thing.
It's gonna be like control A. Were in here to
get money, We're here to get the properties. We're gonna
develop this. This is a long term movement. It's not
a moment. It's a movement. So the next challenge that
came up is juneteenth, and I figured, like, what better
(25:10):
time to do a five day challenge and really get
the focus and the attention of our community than to
do a challenge around June teenth. So this challenge is
from June sixteenth to the twentieth. We are in there
now buying properties as we speak, at sites like the
Commission of State Lands dot org, where you can buy
property in Arkansas for just two or three hundred dollars
(25:32):
for even like a quarter acre. Those are really good properties.
And what we're gonna do over the course of five days,
I'm gonna so we have the banks coming in. American
Express is gonna be one of the first speakers. We
have a rep from Chase coming in. Citizens Bank is
really good. Is a good bank. They will give a
line of credit based on your bank statements. We have
(25:54):
a good friend of mine, Herman Doc, who's gonna do funding.
Speaker 2 (25:59):
Yeah.
Speaker 3 (25:59):
Yeah, he came with me to the challenge. He's bought properties.
Speaker 1 (26:02):
Oh you nice, that's my guy.
Speaker 3 (26:05):
So partnering with people like that that really know their stuff,
like experts in the industry, So for people that may
need help with credit and funding, it's like, hey, I
know this guy could help you. He has tried, like
he's the guy, right, So partnering with him with the banks,
and then on Tuesday, so that Sunday is where we started.
(26:26):
That's like the funding day. The following day, I'm going
to teach everybody everything that I can about land banks,
buying land, how to look for them. You need to
make sure that we're buying properties that we could use
that are worth it. So we want to make sure
we're buying because we don't know how to buy land, right.
We know how to buy a lot of stuff, but
buying our land back is something that we don't know.
(26:50):
So I teach how to look for road frontage, how
to make sure we're looking for on the street. Like
these are simple things. You can just use Google look
at the street to see if there's a hole, and
that's how you know if it has county sewer lines
water and sewer lines, right, because sometimes in these rural areas,
you can buy a piece of land and it doesn't
(27:10):
have a sewer line and you got a dig a
sceptic too, right exactly. So I'm teaching our people things
like this.
Speaker 2 (27:19):
So over the five days, people are going By the
end of the five days. I'm a wind think I'm
an owner.
Speaker 3 (27:25):
You can be, you certainly can be, but.
Speaker 4 (27:28):
He wants to make sure you know what.
Speaker 3 (27:30):
Yes, I freely give that information, but I don't recommend
you buy without learning first, right, So I want you
to learn. We have to. We have to get out
of the habit of just trying to do things on
our own. Right just because we know how doesn't mean
like you should just go to Detroit and just start
buying stuff because it can be bad. It could be bad.
(27:52):
It could be bad.
Speaker 1 (27:54):
The last missing piece I would say is contractors, because
like you said, you have to switch contractors multiple times,
and so even finding licensed people who can do the
work and contractors who aren't going to run off, who
are reliable. You know, I've had my own issues with
contractors as well. I think anybody who's had to do
a rehab has had those same issues. I don't know
too many people who have had the same contractor throughout
(28:18):
multiple projects.
Speaker 4 (28:19):
So is that something also that there is help with.
Speaker 3 (28:23):
We teach how to find. In Michigan, we have our
own We have contractors that we use that are trusted,
and it took a long time to get there. So
there's a hardware store called Dexter Hardware. When Dexter Dexter
in Detroit, right, it's a famous hardware store. I got
close with the owner, the person that runs in her
name is tiny and she like recommended me because she
(28:46):
saw the struggle. She saw me buying, she saw me working,
and she saw me supporting her. And I'm like, man,
like why And I started asking her like, Hey, what's
wrong with these guys here?
Speaker 4 (28:57):
Like it's tough.
Speaker 1 (28:58):
Wow, there's a lot of lit of construction going on
in the city. Is really hard to find. Yeah, great contractors.
Speaker 3 (29:05):
Yeah.
Speaker 2 (29:05):
So people can start by signing up for the challenge
that propertytopassive dot com. Absolutely, it's June sixteenth to the twenty.
Speaker 3 (29:14):
It's virtual.
Speaker 4 (29:14):
It's virtual, okay, but anybody anywhere can do it. Love it.
Speaker 2 (29:18):
So it's part of a big Juneteenth movement to get
our community to make those take back our land as
you've described it to me. And I also love that
when they do this collectively that they can we're also
creating safe neighborhoods.
Speaker 3 (29:31):
Absolutely, we're creating that sense of community again, that's what's important. Right,
So if someone is new, they have apple that they
can ask questions about yeah, right, they can buy strategically
near where she owns property. We teach and here was
the concept too. A lot of it started in Detroit,
(29:53):
like that's where I had the team, because one, I
want a company to come with me. So I'm like, hey,
I want to learn all right, right, just better with people, right,
like going in far and just unknown areas, it's better.
And at the time I was going, it was almost
like the murder capital of the country. But I figure,
we look alike, I'm here to help, and I never
(30:15):
ran into issues. And you have to admit they are
really nice people.
Speaker 1 (30:18):
Yeah, it's amazing and they see it and we see
everything that's happening in Detroit right now. That was a
great place to invest in. And so that's and I
also recommend when people do things like you know, make
sure you do go and see where you're gonna be
and also meet people like you did. That helps a
lot too. And I think people also who are from there.
(30:38):
We have to respect that too. And you always want
to make sure that you're a positive asset to a community.
Speaker 3 (30:44):
They do support you, they yes, they do. The neighborhood
supports you. Neighbors. Oh, here's I if I share the
Detroit Lamping, it's called Buildingdetroit dot org. The neighbors. The
best thing you can do is introduce yourself to the neighbors.
They will embrace you. They will be your security guards.
Neighbors call me all the time, Hey, Charles, is this
(31:05):
your guy? Did he changed bands? So you have somebody
they will certainly call because it's their block.
Speaker 1 (31:10):
They'll be like, somebody broke into two blocks down. Just
like they tell you everything that's going on.
Speaker 3 (31:15):
They do. So I just I felt like it was
I was called upon to bring other people here. It's
a gold mine of an investment. Right. We're not going
to lose into foreclosure because we have issues with foreclosure.
Our people lose properties at the highest rate. So I
figured this is a safe investment. You can't lose the
property because there's no debt on the property, so you're
(31:37):
never gonna lose it. You'll be able to pass this
property down. You may struggle a little and renovating if
you try to do it by yourself. Luckily, we created
a team where a new person could ask f FORO, Hey,
how was your experience with Kevin the contract or? Was
he good? She's gonna say, yeah, he was slow. He's slow,
but he ain't gonna rob you, right. You already with
(31:59):
that as you work.
Speaker 4 (32:00):
Yeah, yeah, it's just communicate with me.
Speaker 3 (32:03):
Yeah. So that's why we created the team, and that's
why we created this challenge for Juneteenth. We cannot get
our names back, but we can get our properties back.
Speaker 4 (32:13):
Property toepassive dot com. You guys got to sign up.
Speaker 1 (32:15):
I definitely have already purchased, you know, a property from
the land bank. So that's why I'm glad we were
able to have this conversation. Foo was here as proof
positive of how she joined and did a challenge as well.
So appreciate you Charles for coming. Everybody, make sure y'all
hit them up. And yeah, let's get it going. Let's
get our properties, let's get
What's with the angela Yee on a Wealth Wednesday? So
you know what that means. Stacy Tuesday is here.
Speaker 2 (00:08):
Happy Wealth Wednesdays, everybody, and we are so excited to
take you way up. We have a special Juneteenth land
grab and an incredible person who's leading the way and
Charles Noon and Charles, thank you so much for being here.
Speaker 3 (00:22):
Thanks for having us. We appreciate it.
Speaker 1 (00:24):
And June teenth is on a Wednesday this year, if
I'm not mistaken, right.
Speaker 2 (00:28):
Yes, and this year it's going to be a particular
Wealth Wednesday.
Speaker 3 (00:31):
We are planning on getting busy June.
Speaker 2 (00:34):
Teen, you're getting busy.
Speaker 1 (00:35):
Talk to us about it because you know, all right, no,
tell us about what the plan is. And then I
want to tell you my thoughts and my experiences with
the Lamdbanks, So go ahead.
Speaker 3 (00:44):
Oh yeah, you know, I send you I DMD you
a couple of times, okay, because we have properties close
to each other.
Speaker 4 (00:52):
Yeah, all right, perfect.
Speaker 3 (00:53):
All right. So the plan for June teenth this year,
I'm doing a five day challenge where we are challenging
individuals to learn how to buy land and Lamdbank properties
over the course of five days, where consecutively we're going
to teach how to pick, purchase, and profit from land
and lamdbank properties.
Speaker 1 (01:13):
Okay, So explain to people listening because they may not know.
Because I've actually purchased property from the land bank before
in Detroit, so I know how that works.
Speaker 3 (01:22):
Yep.
Speaker 1 (01:22):
But I want you to explain to people what land
bank properties are because a lot of cities.
Speaker 3 (01:26):
Have this awesome. So I'll explain it in two parts. First,
I'll explain what a landbank is, and then what a
lanmdbank property is. Okay, So, landbanks are government entities whose
sole purpose is to turn problem properties into properties of
productive use. Problem properties can be identified as vacant, abandoned,
and dilapidated houses. So landbanks will typically go into a
(01:49):
city like Detroit, for example, and they'll make an agreement
with them to sell these properties pennies on the dollar,
as you know, right some most start at a thousand
dollar and the exchange is that they're going to sell
them to investors or individuals that want to turn them
back into properties of productive use. They sell them for
(02:10):
really low amounts of money, and the benefit to the
county is that they get to have the properties back
on the tax roll. They ask you to turn on
the water, the gas, the electric and renovate the property.
And in turn, what that does and how it creates
that win win situation is as the vacant properties get
(02:32):
occupied and renovated, the price of the value of the
houses go up and the crime rate goes down.
Speaker 1 (02:38):
Okay, and these are all important things. And I want
to point out just to your point, when you buy
these properties too from the land BAK, a lot of
times they have auctions, I know in Detroy online it
would be like a weekly auction and they'll let you
know what's going up so you can jibe buy the
neighborhoods because it's also important to see sometimes what these
houses look like. And I think for the city it
is less expensive and for the neighborhood for them to
(03:01):
actually sell it to people who will fix it up
than to have to you know, knock it down and
demo it and all of that.
Speaker 4 (03:08):
So I think it benefits.
Speaker 1 (03:10):
And it's also a certain amount of time that you
have to fix it up, so you can't just purchase
a property and sit on it for years and you know,
let it sit there, because I think that was also
that would be concerning.
Speaker 3 (03:22):
And so yeah, so they make it to where and
each lamdbank that makes these agreements with the counties, they
make it according to the community goals. So, as I
was talking to Stacy, some lamdbanks will ask that you
show proof of funds to renovate the property. They want
you to show proof of licensed contractors and things like that.
(03:43):
Those counties typically have very few lampbank properties, and what
they want to do is kind of preserve the goals
of the community in Detroit right where it's like, hey,
just get these things occupied, get people in them, get
them renovated. The only thing they ask is that you
have one thousand dollars to at least win a bid
on the property, and they do bid, so it's an auction,
(04:05):
so they do go a little bit higher, but they
all start at one thousand dollars and then they ask
within six to twelve months, they asked that you bring
it up to certain cold and do certain renovations that
are required.
Speaker 1 (04:17):
Right and you know, even for myself, it definitely took
longer than that. But as long as you're checking in
and letting them see the work that's being done, then
they can know at least you know you're working on
it and if you don't, you'll get black tickets.
Speaker 4 (04:29):
And then yeah, they don't play.
Speaker 2 (04:32):
A backup, backup, backup. Tell people how who you are
in this space? Charles's Charles is the founder of land
Bank Team and he is the author of Hacking land
Bank Properties. And he is the host of the land
(04:52):
Bank Show. So he and Angela are mister and missus
land Bank.
Speaker 4 (04:57):
I haven't done as much as he has.
Speaker 3 (05:00):
It's crazy.
Speaker 1 (05:02):
You learned a lot just from the process of, you know,
having to go through that. Because He's right, some of
those properties, when you bid on them online, some of
them are going for like three hundred thousand dollars.
Speaker 4 (05:12):
They get up really high in the in the bidding.
But some of them. I got one for one thousand
dollars because no one bid on it. Yeah, and so, and.
Speaker 1 (05:21):
I couldn't believe it because you know, you have a
same amount of time and you're watching it transpire and
you're like, please, don't let anybody bid on this property.
Speaker 2 (05:27):
Charles, How does land Bank Team uncomplicate this for people
and provide a community? Because I'm sitting here like I
want to do what I want to do, but I
don want to do it by myself.
Speaker 3 (05:35):
So here we'll take a small step back. Right. So
I'm Charles Newton and the founder of Right. We'll just
start from the beginning, right, I said.
Speaker 2 (05:46):
Okay, I said, that's your autumn of your company. You
got into this very early and had success very early.
Speaker 3 (05:52):
Yes. So in short, Right, I founded this team because
my experience with the lamp Bank and lambbank properties at
first was hard as hell. Right I got in, I struggled.
I had to go through several contractors to get my properties.
And if you don't have a relationship with the lamdbank,
(06:12):
you feel like they're on top of you, pressuring you.
As you do a couple of properties, you realize they're
they're to support you, right, So I went through this struggle,
and so I started to get them for my kids.
That's what really made me look at other houses and
other states. Because Brooklyn gentrification, the property values went sky high.
(06:34):
I own the Brownstone, and as it started to appreciate
like crazy, I'm like, all right, what about my kids, right,
they're regular lazy athletes, basketball kids that yeah, yeah, yeah,
he knows.
Speaker 4 (06:49):
What he knows what I'm he was supposed to be
taking pictures.
Speaker 3 (06:52):
He knows what's what I'm talking about, though he knows
what's what I'm talking about. So I'm like, I gotta
find a way for the kids, right, I have to
pave the way so that they could afford to live
in Brooklyn like I do, and don't have to move
really far. So I went online and I'm looking for
just regular, inexpensive houses that I could just buy. And
then I saw the Detroit Lampank had houses for one
thousand dollars.
Speaker 1 (07:12):
I was like, it used to be five hundred. At
first they started at five hundred.
Speaker 3 (07:15):
I don't know that far back I saw with a thousand.
I was still happy at a thousand. So Stacey, I'm like,
all right, I could just get like five for this one,
five for my other son, and then when they graduate college,
they'll have like a cash flowing asset that will afford
them to live in Brooklyn with the new prices. And
then going through it, I had this level of resilience
(07:38):
because it wasn't like it was for me an extra cash.
It was like, this is for my kids. I have
to get through this. So as I'm struggling with contractors,
they're disappearing with deposits, they're not seeing the vision they're
not seeing. I'm from New York. I could bring a
thousand people and we do. They're like, dude, just give
me that five hundred and I'm out of here, right.
So going through the struggle made it to like four
(08:01):
or five properties, and then I got in pretty good
with the Lamdbank. They offered me the opportunity to buy
a block of properties on Wayburn Street, and I bought it.
But everybody from New York was like, dude, tell me
how you're doing it, Like you got to introduce me
to it. And I was like, man, it ain't what
you think. Like, I can't bring y'all. And I'm kind
(08:22):
of getting ripped off and going through it and paving
my way. So I they forced me, right. My best
friend jumped in a couple other friends, and I'm like,
all right, so now we got some company, maybe we
could start to figure things out here. Because the city
was it's such a historic city. The houses are beautiful,
they're huge, They're way bigger than what we get in
(08:43):
New York. They have backyards, and I'm just like, if
we could find a way where we could all buy
these properties and concentrated areas, we could force our own appreciation.
We can provide safe places for people to walk up
and down the street. Because in certain cities they didn't
turn the lights on. So if there aren't enough occupied
(09:06):
houses on certain streets, they wouldn't turn the lights on,
so there's ridiculous that night. And then if they're like
two houses. And this is what really touched my heart
and turned my mission into like one of profit and
purpose because there are some houses where little kids have
to walk by. There's some streets where little kids have
to walk by, like five or six vacant abandoned houses,
(09:28):
the elderly have to walk by, you have animals, just
crime happens there. And it was like, all right, this
is bigger than me just getting a house where I
could get a thousand dollars.
Speaker 2 (09:40):
But that's really taking off. How many people has the
land bank team helped ye? And it's nationwide.
Speaker 3 (09:48):
Yeah, So learning about the Detroit lamdbank, I found out
about the Center for Community Progress and that gives like
the national lanmdbank map where you can identify lambanks across
the country. So we created the team. The team just
grew like crazy and todate we've helped over two thousand
individuals by property across the United States that includes land
(10:10):
and Lamdbank houses and one of them.
Speaker 1 (10:12):
Is right here Afua. So, by the way, she told
that she has thirty one properties or.
Speaker 2 (10:17):
Not thirty thirty one properties.
Speaker 1 (10:20):
Properties, right, So tell us how you ended up joining
the land bank team.
Speaker 5 (10:23):
So, I mean, I had, you know, always been interested
in real estate, and I was just you know, looking
and listening to podcast podcasts. And one morning on my
way to to work on the train, I was listening
to a podcast and it had Charles on there. They're
talking about land banks and they mentioned that you can
get properties for as low as three hundred dollars, and
(10:47):
I just I couldn't believe it. So I must have
listened to that podcast like twice just to make sure
I didn't miss anything. So after that, they mentioned that
there would be a property challenge Charles's hold holst Apart
pretty ch challenge, and I decided to join. I just
literally just I did all my research and I just
let me join and give this a shot. And it
(11:09):
was the fourth day, it was five days. I only
you know, found out on Thursday, Thursday morning, I actually
joined in the evening and I was able to do
Thursday and Friday, and then you know, of course requested
the replays and I was very I just couldn't believe
that you could get property as low as three hundred
dollars or even one hundred dollars or so. So I
(11:32):
decided to take the next step. I joined the mentorship,
which is you know, part of the land bank team.
And it was just you know, a group of us young,
you know, women and men who were interested in buying,
you know, going the land bank route. And Charles broke
everything down. It was a very simple system that he
(11:53):
taught us. How do you acquire the property, what things
to look out for? Once you get those criteria set,
then you know, moving on, how do you register with
the land bank and how do you purchase it? So
he introduced us to a myriad of land banks.
Speaker 4 (12:06):
What are some things to look out for?
Speaker 5 (12:08):
Oh, well, for instance, it has to look for your roadways, okay,
look for the roadways. Also have to look for adjoining
you know, property of this property in the vicinity. That's
very helpful. It means you know, the electricals and so
on already like in the earth, so you don't have
to start from scratch. So things like that were very helpful.
Speaker 2 (12:26):
And the land bank team takes you from teaching you
about the process, learning about the process, and then I
know when I heard about this, I'm like, okay, so
how do I monetize this? Do they teach you how
to do that?
Speaker 5 (12:38):
They do that too. So for me, my personal goals were,
you know, quarter one was for me to get the
knowledge whatever it was to get the knowledge, and that
was joining the mentorship team. And again, Charles is so
hands on literally, like they break everything down and the
coursework and you can always call Charles if you have
any questions whatsoever. It took me a while to buy
(13:00):
my first property. I didn't buy it to tours that
you know, the end of this, but I needed needed
I needed to you know, just go through exactly, go
through what I needed to go through to verify and
then you know, suage my fears. Once you do your
research and your due diligence, it's okay, you know, proceed right.
So yeah, it was it was a simple system that was,
(13:23):
you know.
Speaker 4 (13:23):
Easy enough to did you buy your first property?
Speaker 5 (13:25):
So it's in uh, it's in Arkansas, Okay, Yeah, so
different counties. Some are in Sharp County, some are in
Fulton and.
Speaker 2 (13:32):
The like, yeah, okay, and you want to build on it,
you want to sell it?
Speaker 5 (13:37):
I do so I actually, you know, want to buy
and hold. I want to turn those lots into properties.
I want to build on those properties, and yeah, I
want to My personal passion is I want to find
folks that really need the housing and be able to
provide them, you know, decent affordable housing.
Speaker 4 (13:53):
Okay, So that's my goal. We need that especially right now.
Speaker 2 (13:58):
Yeah.
Speaker 4 (13:58):
Absolutely.
Speaker 2 (13:59):
Yeah. And with the monetizing part of it, you're the
land bank team actually helps people find you know, figure
out what they want to do with it, and you
have partners who help people finance the changes they want
to make gun it.
Speaker 3 (14:14):
Yeah, so that was a big part of it for me. Right,
So people joining the team, joining the community. I came
from corporate America, so it was like, all right, I
could I had money and like really good credit where
I could just buy these properties and invest because I
knew real estate. I knew enough about real estate that
(14:35):
they were smart investments because they were debt free. So
it's hard to falter debt free, right, there's no you
can lose the money you put up, but you're never
going to lose the house as long as you pay
for the taxes and insurance. So as we got team members,
I started to notice the struggle was funding and financing
for renovations or funding to build. So again I just
(14:58):
had to go and just looking at serve the community.
We partner with certain banks, credit people, credit repair people
that help with credit to help people get the funding
that they need. And then there are two companies I'll
mention that are African American driven. One is owned and
I know the liaison that we work with is African
(15:19):
American and he heads their their funding initiatives. One of
them is Prime One Lending that's an African African American
owned bank that looks forward to helping and funding individuals
of color and their real estate endeavors. And the other one,
it's a program called hack HAC. They specialize in new builders,
(15:46):
new and new investors, and new developers. So between those
two they've done a really good job of helping Lamping
Team individuals.
Speaker 5 (15:55):
Chahs.
Speaker 1 (15:55):
Let me ask you about hard money loans because I
know people, and that's why I'm asking you your face,
because I know people who will be like, I want
to do this, but I don't have the credit.
Speaker 4 (16:04):
I don't have this. I just get a hard money loan.
Speaker 1 (16:07):
Now, I want to know what your thoughts are about
hard money lenders, especially for new investors.
Speaker 3 (16:11):
I hate them. Don't do it. Find other other ways,
and there are with the information that's out today, there
are other avenues that we can use to get the
money that's needed. So give you an example.
Speaker 2 (16:24):
This is for renovation. You don't need. You don't need.
You guys are the experts of this. You don't need
credit and all that stuff to actually buy one of
these lambs.
Speaker 3 (16:31):
So here's the best thing to buy a lambank property.
You just need the money you don't need. You don't
need good credit. You don't need good credit. You don't
need like all the It just dispels such a myth
and remove so many barriers for us to get into
real estate. Because you don't need good credit. You don't
have to be on your job for two years like
the railtors ask. You don't need like these progressive tax
(16:53):
returns where you made fifty thousand dollars one year and
if you made forty eight, like, it's no good. You
don't qualified.
Speaker 1 (17:00):
But what you do need is the money to fix
it up right, Alan, And that's where.
Speaker 2 (17:04):
So back to hard money loans, so I can buy it.
Speaker 3 (17:06):
But don't. So here's the concept. And when I started
like this whole movement and initiative, it was more so
surrounded by us creating debt for our future generation. So
part of my slogan initially was we have to be
mindful of creating generational wealth and not debt through real estate,
because traditional real estate you can just be passing on debt.
(17:29):
A lot of people who do hard money loans are
getting properties where they're not like cash flowing properly. They're
cash flowing like two or three hundred dollars. My son,
if I told them, hey, you got this eight proper
eight unit building that you have to manage, it's a
million dollars of debt, but you get like two hundred
dollars per door, he gonna be like what Like nah, Dad,
(17:51):
Like you keep that right? That's not that just doesn't
work for us. It's so risky to lose it foreclosure.
Like it's hard to pass that down. Especially they have
their own lives. They don't want to take on your
dreams and initiatives that you started. It's like sometimes our
children are like nah. However, if I told him, look,
we got an eight unit in Detroit on West Chicago
(18:15):
Boulevard right off of Dexter is paid off. Right, it's
paid off. You just gonna collect eight thousand dollars a month.
His answer to go up be like I bet, Like
like is it?
Speaker 2 (18:25):
Yeah?
Speaker 3 (18:26):
Thanks Bob right. So the concept was like, we have
to start creating generational wealth and making sure we're not
creating debt. So there's also there are two companies in
Detroit that will lend on lampbank houses before you get
the release of interest. One of them is Green Oak Lending,
So they are really good. They have their own partnership
(18:46):
and agreement with the Landbank and they understand that the
land Bank is gonna hold a small interest in the
property until the requirements are met and then they'll do
what's called the ROI, a release of interest. So Green
Oak fund thing will give funding for lampbank properties the
other way that people get funding. And I kind of
like this strategy, but you have to be very disciplined.
(19:08):
So for a lampbank house, you don't need hundreds of
thousands of dollars if you pick it right to do renovations.
Individuals are doing like zero percent interest credit cards for
like twelve or eighteen months. I think that's a good
strategy for lampbank houses if you're disciplined. So let's just
say you card you have, and I tell everybody in
(19:31):
the lambbank team, like, don't spend no money right now,
like pay that credit card off, because the interest is
gonna hit. And you don't want to be in a
situation where you know you're starting to take money, your
credit card hits, now you're not making money, and then
the work becomes harder. So I tell people, just make
sure we try our hardest not to get leans on
(19:52):
the property. Because the concept is we want to keep
these properties in house, we want to keep them in
our last names, and we want to pass them down.
Speaker 1 (19:59):
How do you you know which properties to pick because
a lot of times with the landbank, they'll have properties listed,
but you can't go inside and see, so you don't
necessarily know how much work it's going to take when
it's time to fix these properties up. So when you're
figuring out, when the team is figuring out, Okay, this
is a great property, let's bid on this.
Speaker 4 (20:18):
Let's do that.
Speaker 1 (20:18):
Sometimes it's somewhere where you don't live. What's your strategy
when it comes.
Speaker 3 (20:22):
To that's a great questionsing. I made a small video
and part of the coursework right is to learn to
buy the ugliest house on the prettiest block. Meaning and
the Lamdbanks they do a fairly decent job of showing
you as many pictures of the inside as they can.
And there are several things that we look for. We
(20:44):
typically in Michigan, for example, we really look for the
ugliest house on the prettiest block. We look to make
sure there are no foundation issues. We know you're gonna
have to do new electrical, new plumbing, like automatically without question,
because they've been vacant for so long. And then we
make sure we try to look to see if floors
(21:05):
are buckling or not. We also this is a key,
this is a big one. Right, you can send We
have contractors in Detroit, We've been doing it for so
long that will go and check the water line. Okay,
so you know in Detroit they got the water key, right,
you know, they like they're not supposed to, but they
have their own water key. Like contractors, you find a
(21:26):
good one, they have a water key and for those
that don't know what that is, right, that's the key
that the water company uses to go in and turn
the water on and off. So week send our contractors
to check the water. Landbanks will tell you to go in.
They say there's coldes on the doors, but there's no clodes, right.
Speaker 4 (21:46):
I know people do just if they know a property
is going up, they will go and.
Speaker 3 (21:50):
Like yeah, yeah, yeah. It's kind of like unsmoken for
the for the county.
Speaker 2 (21:55):
The more you say, the more I'm so glad that
this can be done in community and not alone. Tell
our audience about your challenge and.
Speaker 4 (22:03):
The goals and how.
Speaker 2 (22:04):
You've done this with over two thousand people, and you do.
Then you guys have seen videos of it. You guys
like swarm an auction.
Speaker 3 (22:12):
I don't wake credit for those because it looks scary
when you have like this group of people. So we
did a challenge before. We did two challenges before the
first one was Deeds under Trees, where the concept was
for us to finally like, let's give gifts that really
make sense that kids will never forget, that loved ones
would never forget. So the Commissioner of State Lands in
(22:36):
Arkansas cosl dot org has these daily auctions where properties
land starts at three hundred dollars. All right, that's probably
where Full got most of her property is from. Right.
So I did a challenge and developing an area and
Arkansas was the focal point. So that challenge was phenomenal.
(23:00):
I teach them over five days and teach all the
all the like the nuances of buying land. The second
challenge this I am. I'm getting there because but I
have to, like there's one thing that I have to
tell talk about because we don't want this thing to
get out of control. Right. So the second one was
by the block, and it was like where we focused
(23:21):
on buying blocks of properties together as a community, clusters
of properties, and we were going to renovate, develop whatever
we do together. So we actually went to an auction together.
The COSL is online. We actually went to an auction together.
So I'm like me just one individual, the founder of
(23:42):
the team. The challenge went crazy, like over five hundred people.
Two hundred people came out to the auction. All every
person bought property. But what happened was the energy just grew.
It went out of control. Right, So we got these
by the block shirts on on the back it says
making our it says living, becoming our ancestors, wildest dream,
(24:05):
one deed at a time. So now you know the
color of our group. We're in Scranton, PA. I've rented
out a hotel. We're going over like the details of
the auction and how it's gonna work. And they start
yelling by the block, by the block. I'm like wait,
like not like no, no, no, like like I don't
(24:26):
know we could do this here, right. It looks like
the energy was amazing. So going forward, we gotta kind
of like keep it down because it's kind of on
me a little bit. And I don't want to be guilty.
I don't want to be I don't I wanted to
just remain focused on us buying properties.
Speaker 2 (24:46):
Right, you want to be a leader, lead?
Speaker 3 (24:48):
Yeah, So if I'm gonna lead, it ain't gonna be
no rowdy, crazy, wow picking protests, angry type of thing.
It's gonna be like control A. Were in here to
get money, We're here to get the properties. We're gonna
develop this. This is a long term movement. It's not
a moment. It's a movement. So the next challenge that
came up is juneteenth, and I figured, like, what better
(25:10):
time to do a five day challenge and really get
the focus and the attention of our community than to
do a challenge around June teenth. So this challenge is
from June sixteenth to the twentieth. We are in there
now buying properties as we speak, at sites like the
Commission of State Lands dot org, where you can buy
property in Arkansas for just two or three hundred dollars
(25:32):
for even like a quarter acre. Those are really good properties.
And what we're gonna do over the course of five days,
I'm gonna so we have the banks coming in. American
Express is gonna be one of the first speakers. We
have a rep from Chase coming in. Citizens Bank is
really good. Is a good bank. They will give a
line of credit based on your bank statements. We have
(25:54):
a good friend of mine, Herman Doc, who's gonna do funding.
Speaker 2 (25:59):
Yeah.
Speaker 3 (25:59):
Yeah, he came with me to the challenge. He's bought properties.
Speaker 1 (26:02):
Oh you nice, that's my guy.
Speaker 3 (26:05):
So partnering with people like that that really know their stuff,
like experts in the industry, So for people that may
need help with credit and funding, it's like, hey, I
know this guy could help you. He has tried, like
he's the guy, right, So partnering with him with the banks,
and then on Tuesday, so that Sunday is where we started.
(26:26):
That's like the funding day. The following day, I'm going
to teach everybody everything that I can about land banks,
buying land, how to look for them. You need to
make sure that we're buying properties that we could use
that are worth it. So we want to make sure
we're buying because we don't know how to buy land, right.
We know how to buy a lot of stuff, but
buying our land back is something that we don't know.
(26:50):
So I teach how to look for road frontage, how
to make sure we're looking for on the street. Like
these are simple things. You can just use Google look
at the street to see if there's a hole, and
that's how you know if it has county sewer lines
water and sewer lines, right, because sometimes in these rural areas,
you can buy a piece of land and it doesn't
(27:10):
have a sewer line and you got a dig a
sceptic too, right exactly. So I'm teaching our people things
like this.
Speaker 2 (27:19):
So over the five days, people are going By the
end of the five days. I'm a wind think I'm
an owner.
Speaker 3 (27:25):
You can be, you certainly can be, but.
Speaker 4 (27:28):
He wants to make sure you know what.
Speaker 3 (27:30):
Yes, I freely give that information, but I don't recommend
you buy without learning first, right, So I want you
to learn. We have to. We have to get out
of the habit of just trying to do things on
our own. Right just because we know how doesn't mean
like you should just go to Detroit and just start
buying stuff because it can be bad. It could be bad.
(27:52):
It could be bad.
Speaker 1 (27:54):
The last missing piece I would say is contractors, because
like you said, you have to switch contractors multiple times,
and so even finding licensed people who can do the
work and contractors who aren't going to run off, who
are reliable. You know, I've had my own issues with
contractors as well. I think anybody who's had to do
a rehab has had those same issues. I don't know
too many people who have had the same contractor throughout
(28:18):
multiple projects.
Speaker 4 (28:19):
So is that something also that there is help with.
Speaker 3 (28:23):
We teach how to find. In Michigan, we have our
own We have contractors that we use that are trusted,
and it took a long time to get there. So
there's a hardware store called Dexter Hardware. When Dexter Dexter
in Detroit, right, it's a famous hardware store. I got
close with the owner, the person that runs in her
name is tiny and she like recommended me because she
(28:46):
saw the struggle. She saw me buying, she saw me working,
and she saw me supporting her. And I'm like, man,
like why And I started asking her like, Hey, what's
wrong with these guys here?
Speaker 4 (28:57):
Like it's tough.
Speaker 1 (28:58):
Wow, there's a lot of lit of construction going on
in the city. Is really hard to find. Yeah, great contractors.
Speaker 3 (29:05):
Yeah.
Speaker 2 (29:05):
So people can start by signing up for the challenge
that propertytopassive dot com. Absolutely, it's June sixteenth to the twenty.
Speaker 3 (29:14):
It's virtual.
Speaker 4 (29:14):
It's virtual, okay, but anybody anywhere can do it. Love it.
Speaker 2 (29:18):
So it's part of a big Juneteenth movement to get
our community to make those take back our land as
you've described it to me. And I also love that
when they do this collectively that they can we're also
creating safe neighborhoods.
Speaker 3 (29:31):
Absolutely, we're creating that sense of community again, that's what's important. Right,
So if someone is new, they have apple that they
can ask questions about yeah, right, they can buy strategically
near where she owns property. We teach and here was
the concept too. A lot of it started in Detroit,
(29:53):
like that's where I had the team, because one, I
want a company to come with me. So I'm like, hey,
I want to learn all right, right, just better with people, right,
like going in far and just unknown areas, it's better.
And at the time I was going, it was almost
like the murder capital of the country. But I figure,
we look alike, I'm here to help, and I never
(30:15):
ran into issues. And you have to admit they are
really nice people.
Speaker 1 (30:18):
Yeah, it's amazing and they see it and we see
everything that's happening in Detroit right now. That was a
great place to invest in. And so that's and I
also recommend when people do things like you know, make
sure you do go and see where you're gonna be
and also meet people like you did. That helps a
lot too. And I think people also who are from there.
(30:38):
We have to respect that too. And you always want
to make sure that you're a positive asset to a community.
Speaker 3 (30:44):
They do support you, they yes, they do. The neighborhood
supports you. Neighbors. Oh, here's I if I share the
Detroit Lamping, it's called Buildingdetroit dot org. The neighbors. The
best thing you can do is introduce yourself to the neighbors.
They will embrace you. They will be your security guards.
Neighbors call me all the time, Hey, Charles, is this
(31:05):
your guy? Did he changed bands? So you have somebody
they will certainly call because it's their block.
Speaker 1 (31:10):
They'll be like, somebody broke into two blocks down. Just
like they tell you everything that's going on.
Speaker 3 (31:15):
They do. So I just I felt like it was
I was called upon to bring other people here. It's
a gold mine of an investment. Right. We're not going
to lose into foreclosure because we have issues with foreclosure.
Our people lose properties at the highest rate. So I
figured this is a safe investment. You can't lose the
property because there's no debt on the property, so you're
(31:37):
never gonna lose it. You'll be able to pass this
property down. You may struggle a little and renovating if
you try to do it by yourself. Luckily, we created
a team where a new person could ask f FORO, Hey,
how was your experience with Kevin the contract or? Was
he good? She's gonna say, yeah, he was slow. He's slow,
but he ain't gonna rob you, right. You already with
(31:59):
that as you work.
Speaker 4 (32:00):
Yeah, yeah, it's just communicate with me.
Speaker 3 (32:03):
Yeah. So that's why we created the team, and that's
why we created this challenge for Juneteenth. We cannot get
our names back, but we can get our properties back.
Speaker 4 (32:13):
Property toepassive dot com. You guys got to sign up.
Speaker 1 (32:15):
I definitely have already purchased, you know, a property from
the land bank. So that's why I'm glad we were
able to have this conversation. Foo was here as proof
positive of how she joined and did a challenge as well.
So appreciate you Charles for coming. Everybody, make sure y'all
hit them up. And yeah, let's get it going. Let's
get our properties, let's get
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