October 9, 2022 • 56 mins
In this episode of the Raymundo show he discusses the importance of investing and taking control of your financial future. Listen to special guest, Luke Thomas, discuss real estate investments and how to make it your business. “Buy land they’re not making it anymore.” Tune in to learn more.
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Episode Transcript
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(00:21):
is your host.
Raimundo.
Welcome to my show.
Where we relate.
Laugh.
And hopefully learn some shit inthe process.
But this is episode 39.
Investments city.
Real estate edition.
To get that true wealth.
We got to have real estatesomewhere in the mix.
(00:42):
But before we get in and that Ikicked the habit, I just.
Let's go let's go.
Today's quoted a day is broughtto you by.
Warren buffet.
I will tell you how to becomerich.
Close the doors be fearful whenothers are greedy.
(01:05):
Be greedy when others arefearful.
And I think that's that's dope,man.
Cause.
There's not a guarantee way towin an investing unless you
inside a trade-in.
I know a lot of us don't want towork forever.
So I think it is worth.
Learning investing.
I feel like more than school,more than anything, like.
(01:26):
I'm making my kids learn aboutinvesting as soon as.
The fucking 10, like.
I'm going to put it in the mostsimplest form.
Because.
Until you make the money workfor you, man.
It just, it's just going to bethe cycle.
And.
I mean, I'm not experiencingyet, but I'm striving for it.
Like there's something I reallywant.
But.
I haven't made the fulltransition or transformation I
(01:47):
need.
Telling you all that informationsometimes can.
Make you feel stuck.
That's why you got to give it tothe action takers.
You got to be an action taker,and it's going to feel like
you're doing something wrong atfirst, because it's something
you're not used But once you getused to taking that action and
it becomes a habit.
Sky's the Or the sun worth theicarus But you always got to be
(02:11):
doing what others is not.
If.
If 99% of the world, the greatin real estate.
Then.
You should be trying to dosomething else.
I like to that extent.
I've had.
Small experience in investinglike.
Like baby experience.
Ah, so, you know, so.
Definitely.
was dope to get somebody.
(02:31):
that's been doing the, for along Uh, through real estate and
he has a.
Adult way of seeing things andhe has a great perspective.
But let's get into the episode.
Of best Smith's city
raymundo-investment-city (02:46):
So on this episode, I want to give
y'all some value when it comesto investing.
you gotta learn how to make yourmoney work for you.
If not, you'll be working forthe money forever.
I'm blessed to have a specialguess that's knowledgeable and a
lot of, different areas ofinvesting.
And he got great fucking energy.
So I wanna welcome to theRaymundo Show Lucas to
Track 2 (03:10):
Uh, sweet.
I got my own soundtrack andeverything.
Uh,
raymundo-investment-ci (03:17):
brother.
How's
Track 2 (03:18):
let's go on fan freaking.
I hope that, I hope.
I think we have, I think I'malready excited cuz uh, we were
talking before and I think wehave perfect energy together.
Um, and I'm really excited causeuh, sometimes I go on these
podcasts and the immediateresponses, uh, I just don't like
you Luke.
And I'm like, you know what Ifound?
I figured out, like when I was akid, one of the most valuable
(03:41):
lessons I was ever taught is 50%of of the world will hate you,
but you make all your money onthe other 50%.
So you don't give a shit.
That, that's, that's the, that'sthe most valuable thing I
learned as a kid is, uh, make,make, make all your money on
that half.
Like, don't go.
Who cares about the other half?
Who cares?
Fast, strong.
Like where I live in this worldwhere there's other fitness
(04:02):
that's half though.
Oh man, they love me.
They love me.
They'll go to bat for me.
They'll, they'll, they'll, theylove me all day, every day, but
the other half.
So anyway, that's.
raymundo-investment-city (04:12):
That's that balance right there.
Track 2 (04:13):
It's so fun being where I'm at now cuz I grew up in a
trailer with no money and thennow I hang out in the financial
planner world, which I hang outwith people with way too much
money.
And it's like this really funlittle balance between the two
worlds cuz I'm like, I'm like, Icould see how nine, none of you
see eye to eye.
And, um, I pretty much, uh,yeah.
(04:34):
Uh, it's, it's weird being thein between, between the two
worlds, just being like, Ohyeah, I remember, I remember,
uh, living in a trailer andbeing like, Oh man, you'd be
cool eating today.
That'd be really cool.
You know what I mean?
And then now I'm kind of like,gas put up and val, I'll get up
in price today and I'm sittinghere going like, Oh, I don't
even care anymore.
Whatever.
raymundo-investment-city (04:55):
but it's good though cause it, it
keeps you humble.
You know, you know, you know howit is to, to not know how to,
you know, what you are going toeat and now you can eat whatever
you want.
So it's a beautiful thing.
where did, where was, where wereyou raised?
Like where was this trailer?
Track 2 (05:10):
Oh geez.
I went from a town of a thousandpeople in rural Pennsylvania, so
that's why I have
raymundo-investment-city (05:16):
Pa
Track 2 (05:16):
No, no, no one can place this accent.
They're like, You from thesouth?
I'm like, I know it's evenworse.
I'm from the north, but like,yeah, I'm from the north.
But the problem is, is peopledon't realize is like, you know,
when you're from rural parts ofthe country, you get like really
strange accents.
And I, I have like thishardcore, uh, slur.
(05:37):
I don't even know what it is.
But anyway, I, I, I've been, andit's funny cuz I've, I've had
this my entire life.
If people just assume I'm anidiot, just cuz of the way I
sounded, I'm like, oh yeah, Icould see that.
I could see.
So usually I'll do my, uh, my,my classes and I'm like, It
takes me at least two hours toconvince someone I'm not an
idiot.
And then I'm like, Oh, good,good.
It took me two hours, but I, Iproved to you I'm not an idiot.
(06:00):
I mean, it's an uphill battleand I'm over it, you know?
raymundo-investment-city (06:04):
you know, what is the, one of the
best things I heard?
It doesn't, it doesn't matterhow you speak, is what matters
is they, that they understandyou.
So as long as they understandyou and they learn and they're
getting what they need to get itis all good, man.
I know.
Track 2 (06:16):
why you got half the population.
See, talk to that.
Yeah, yeah, yeah.
And trying to, trying to figureout which half it is so you can
just stop talking quicker.
You know,
raymundo-investment-city (06:25):
So, so tell my listeners, uh, pretty
much just scheme of things, whatyou do, what you do for a
living.
Track 2 (06:32):
here's what I do.
Um, I'm a financial planner fora living.
I help people achieve fire,which is a financial
independence.
Retire early.
Um, I was a real estate agentfor 10 years.
Um, I was a copywriter before.
I've always been self-employed.
I haven't had a real job sincethe Army, which has been like
almost 12 years from now.
(06:53):
So I haven't had a, like my lasttechnical so that the army isn't
technically a job cause youcan't get fired.
Right.
So my last real job was Walmartcashier.
Okay.
So last real job I had was, Iwas a Walmart cashier working
for$10 an hour and I was on foodstamps and it's funny cuz I made
too much money, so they onlygave me$35 in food stamps and,
(07:15):
and like I'm sitting there goinglike, Hey, here's my food stamps
and I'm gonna buy rotisseriechicken cuz I'm just assuming$5
rotisserie chicken is the bestuse for my$35 in food stamps.
Um, those, those were the goodold days, but
raymundo-investment-city (07:28):
how did the ra uh, Rhm come
together?
Boy, were you like hanging outwith your boys and you like, Yo,
you my right hand man?
And you were like, Yo, that'sit.
Track 2 (07:39):
No.
So what I've got into realestate is really funny.
So normal real estate agents,um, you know, like, so here's
how I'll tell you how a realestate agent is born.
Normally what happens is, issomeone with money, right?
Buys a house and they go, Ohwow.
That real estate agent makes waytoo much money.
I can't believe they make thatmuch money on this one.
Transac.
That's crazy.
(08:00):
And then that, that person thengets their license and that's
how a real estate agent wasborn, right?
raymundo-investment-city (08:06):
Oh, okay.
Track 2 (08:07):
I was born.
Through fire and brimstone, andmy very first property came to
its own crackhead, right?
It was great.
This guy did the showing andeverything.
He's like, Hey bro, let's killit in.
I'm like, Oh dude, this isawesome.
And then he's walking me aroundthis condo and he's like, Yeah,
we don't really go upstairs.
(08:28):
Did you know what the worstenemy of a crackhead is?
Do you know what it.
raymundo-investment-city (08:31):
Um, Stairs,
Track 2 (08:33):
Yes.
Because when they're, whenthey're, when they're tripping
out of their minds, they falldown.
'em.
So they, so what they'll do,what they do is they put the
beds in the living room on thefirst floor.
So they, and they don't goupstairs.
It's, it's absolutelyfascinating.
I'm sitting here getting like,I'm like, I'm like walking
through this, and I'm just like,Oh, wow, this is so much fun of
getting like a, And they evenhad like, it was like, it was
(08:54):
great.
They had stolen stereos in thecorner.
They had like the rottweiler inthe yard.
It was great.
Oh, man,
raymundo-investment-city (09:00):
they had a, they had a organized,
they had it together.
Track 2 (09:02):
Professional crack heads, like they, these guys
were, you know, they were, theywere fantastic.
So when I would, when I, when Istarted buying property, when in
college I was a copywriter and Imade really good money, But
copywriting's so boring.
When I started becoming a realestate agent, I was like, what's
the easiest way to make moneywithout having to work again?
Right?
(09:22):
So then I started buying rentalproperties because if you buy
rental properties, you can cashflow 2, 3, 4, 5,$600 a month as
long as you can buy'em.
raymundo-investment-city (09:32):
What year was this?
What year did you start
Track 2 (09:34):
that was 2014.
So that was, that was eight,nine years ago.
So that was 2014.
Um, and it was great because Ibought the place and then I show
up and I tell the real estate orI tell the police cuz they
didn't leave.
And I'm like, you gotta get out.
I own this place.
They're like, we, we live here.
You can't tell us what to do,don't like, lovely.
So I call the police and thepolice show up, you know, two
(09:55):
hours.
It's one of those neighborhoodswhere you call the police and
they show up two hours later cuzthey just assume.
Hey, hey, can clean it up.
I, Yeah.
You know, if they, they show uptwo hours later cuz it's easier
to clean up than it is to, youknow, stop it.
Yeah.
So it's one of thoseneighborhoods.
So I'm sitting there, I'msitting there with my battle
buddy cuz that's what you, youjust, you don't, you never go to
(10:17):
these place alone.
You always got my battle buddy.
We're sitting there for twohours waiting for the police and
we're just sitting there goinglike, Man, this is fun.
You buy a 40,000 condo, you sitin your car waiting for the
police to show up two hourslater.
And, uh, yeah, this is, this is,this is real.
Congratulations Luke.
raymundo-investment-city (10:33):
I was a real estate agent in, in New
York City.
Um, I, I didn't get to thehouses part, but I did the
rentals and it happened.
I went to a Trump seminar andhad like, epiphany.
It was like, Oh, this is what Iwanna do, but then didn't do the
investing.
I did rentals just cuz I feellike I wanted to build like,
some reputation first and thenget into it.
But like, I've attempted to getinto it.
(10:57):
Like, I try to get into thewhole sailing, but I never, I
never followed through.
So, you know, talking tosomebody that's in the game,
like really, doing it.
What you say eight, nine yearsis, it's good to get your, your
feedback on stuff.
Um, in the military.
What, what, what did you learnthere that, that gave you, like
that strategy that, That mindsetthat
Track 2 (11:16):
Oh, so I've always been too smart for my own good.
I was one of those kids that'slike, um, well I was, I was
little asshole cuz I was, I wassmart.
I was always been smart.
And then, the only reason Ijoined the army was because,
student loans will, they, theywill chase you for the rest of
your life and then you.
raymundo-investment-city (11:34):
that's true.
Track 2 (11:35):
with the, with the military though, it's like, Hey,
do your four years, here's yourend date free college.
I'm like, Oh, I can do that.
And I that's, it's so funny.
I was getting, I would get themilitary training, they'd be
like, Well man, you're herebecause you love your country.
Oh, I'm here.
Cause the GI Bill is a beautifulprogram.
So, so I joined the Army justso, uh, cuz like I said, I've
(11:57):
always been very, I've alwaysbeen very pro money.
And the hardest thing withpeople, it's like, it's like
everything I do, it's all about,it's like, okay, how do I avoid
what trips most people up?
Right?
Most people, they go to college,they get loans they can't afford
and a degree that's stupid andthey don't get, they can't get a
real job.
My philosophy was join the army,get free education, go into
(12:20):
business school because at leastif business, because my wife,
she's an engineer and the thingis, is she was become an
aerospace engineer.
But we decided not to, wedecided to do mechanical because
mechanical can go anywhere.
Same thing with business.
It's a degree that it, that issuch, so many avenues of
approach for getting jobs andlike doing well in the world.
(12:42):
But if she would've become anaerospace engineer, it's too
niche.
And every time she was applyingfor mechanical engineering jobs,
the hiring agents would be like,Well, you have an aerospace
engineer.
What does that have to do withmechanical?
And it's like, well, it's asuper cool version of
mechanical.
But you'd always have that, haveto have that conversation.
And sometimes they'll just throwyour, uh, resume out because
(13:02):
it's like, Oh, you're not amechanical, you're, you're a
aerospace.
Get outta here.
So, for me that, so I joined thearmy, got my education paid for.
And then, but the, but thenumber one thing that the Army
taught me is I never wanna havea boss again.
So if I had to go on a limb andsay what the Army taught me,
it's like, I don't like bosses.
And I, your worst boss in theworld is nothing compared to
(13:26):
having the worst boss in themilitary.
It's just, it's just hands down.
You cannot imagine the horrid,horrid things that can, that can
happen to you.
raymundo-investment-city (13:33):
Yeah.
Was it like, um, was it likethat movie, uh, what is it
called?
Full Metal?
Is
Track 2 (13:38):
full metal jacket, that wasn't that bad.
I like that.
But no, the problem is, is ifyou piss off the wrong guy, that
can make your life held theentire time you're there.
And it's one of those things.
So, so my brother, he was aMarine and I was in the army,
and like I said, he's too smartfor his own good.
I'm too smart for my own good.
And that's not good for a lotof, lot of, So for a lot of
(13:59):
being an employee, being toosmart for your own goods is not
good for you.
raymundo-investment-city (14:03):
Can't, you can't be smarter than the
master.
That's the rule.
Like you can't,
Track 2 (14:06):
dare you.
How dare, Actually there's,there's, there's actually a,
there's actually a quote forthat.
It's like, don't outs, shine themaster.
Yeah, yeah.
I live in that world.
I'm like, Nope, nope.
I'm an idiot.
That's why, That's why I'm,that, that's why I'm, It takes
me two hours to convince you I'mnot an idiot.
Then in general, I'm an real,
raymundo-investment-city (14:30):
it's better to play like that cuz
then, you know, you, I I, that'slike a technique.
I guess you get to see peopletrue colors and you kind of, you
can maneuver in that space ofthem thinking that you don't
know better.
Track 2 (14:42):
Oh, it's the best.
It's
raymundo-investment-city (14:44):
the best.
Track 2 (14:44):
I actually drive a Prius.
I drive a Prius as well, andit's the funniest thing cuz I,
I'm a hardcore.
I'm a hardcore son of a bitch,right?
So it's the funniest thing cuz Idrive this Prius and I go like
150 miles an hour in this thing,but the police think I'm a
soccer mom, so they never pullme over.
So I've been going 120 andthey're, and they're just
sitting there going like, andit's funny, all my buddies talk
(15:06):
shit cuz they're like, Dude, youdrive a Prius.
Uh, that's, that's so, uh,terrible.
And I'm sitting here going like,Dude, I've, I've owned this bank
for five years, never beenpulled over.
I go 120 everywhere I go andthey're just like, Oh man, that
soccer mom must have anemergency.
And I'm sitting here going like,Yeah, yeah, do my emergency is I
gotta be places quicker thaneveryone else.
(15:27):
And like it.
So it's just so funny cuz cuzwhen I was, when I was a
property manager, cuz I, notonly was I a landlord, I was
actually a property manager andI used to run a property
management company for severalyears.
And I used to do really toughneighborhoods.
Like my entire business modelwas, I would help you buy rent
and then sell the toughestneighborhoods in your city, more
(15:47):
or less.
And that's pretty much my, wasmy business model for several
years.
And it's so funny when you like,so I used to own this one car, I
called it the slum War.
And it was this 2008 MazdaSport, right?
So I beat this thing to hell,like it got backed into in
parking lots and shit, and ithad like all the sun spots and
(16:08):
everything, but it was like theperfect car for what I was
doing.
Cuz like I would leave thisplace in some not so nice places
and it was never broken into.
Cuz everyone's like either ACrackhead owns that and he ain't
got nothing.
Or B, like that person isviolent.
I'm not breaking into thatthing.
And I'm like, Yes, that's got,I'm, we've established this car
is not owned by a good person.
(16:29):
Let's not break into it.
So, but it was
raymundo-investment-city (16:31):
way hold.
Track 2 (16:32):
Mm
raymundo-investment-city (16:33):
I read that in a book that, uh, The
Millionaire.
He was saying that not to, notnothing against those
neighborhoods, but he, everytime he went in his nice car
always got scratched, keyed.
So he said he learned, you know,just bring the Honda cord and
nobody would mess with it.
So that's crazy.
But, before you, um, get intothat, I don't want, I don't
wanna get lost.
Fire,
Track 2 (16:52):
Oh
raymundo-investment-city (16:52):
is hot.
Fire is hot.
How do you help people retireearly?
Like, I know people wanna befinancially independent, but
retiring early.
That's, that's two in one,right?
Track 2 (17:02):
Well it's called the Three Pillars of Wealth.
I know all three because I'vebought, and I've bought and
invested in all of them.
And like I said, it took me adecade to get into all these
little niches.
And like as one of my friendssays, uh, the niches are in the
or, the riches are in theniches.
And if you can niche yourselfinto something, you either make
a ton of money.
Cuz the reality is people don'tgo, they usually don't get that
(17:25):
hyper focused into niches.
But once you get that niche,it's.
You know, like, so most of myclients are now
multi-millionaires.
So me, so the last 10 years Imade myself a multi-millionaire.
I made, uh, most of my clientsmulti-millionaires.
And it was all through realestate, which are the three
pillars of wealth, real estate,paper, and, uh, businesses.
(17:47):
So with real estate, realestate, that's gonna be your
Airbnbs, your, um, your longterm rentals, your wholesaling
fixing flips.
Uh, I'm not a huge fan of fixingflips.
I think it's too much risk.
but everyone loves fixing flips.
It's like, it's in the, it'svogue.
But I don't think fixing andflips make you rich.
I just think it's a vehicle tomake money to then buy actual
(18:09):
wealth, which is apartmentbuildings, um, rentals, Airbnb.
Cause, cause what, what peopledon't realize is cash flow is
king.
I don't care if you have amillion dollars in your bank
account.
Well, congratulations.
You can live for 10 years beforeyou go broke.
Congratulations.
But if you own, if you own like20 rental properties, that's
forever.
You know, like I collect myrent, like I own like 20, 30
(18:32):
properties myself.
Right.
And I landlord'em all.
I, I've replaced my income, likemy regular income's now been
replaced with, uh, you know,mailbox money.
I get my, uh, my cash flow formy rentals.
I got some notes.
Um, I actually own, uh, abusiness overseas.
Uh, I don't wanna get too farinto that one.
raymundo-investment-city (18:51):
You hustling, man.
You a hustler.
Track 2 (18:54):
Well, the thing, the reality is, is don't steal money
from Luke.
That should be simple.
I'm not a nice person and I, Inever present to anybody that
I'm a nice person.
And then one of my businesspartners stole my money.
So me and my attorney, we shookhim down and all he had was, uh,
he had, he had a bunch of landin Costa Rica.
And when I shook him down, I'mlike, Yeah, I'll take that.
(19:14):
Give me that and I won't sue youinto the ground.
And I won't go after you forcriminal charges and fraud.
The next thing know I ownsomething overseas.
But that, that's just how itworks.
You know?
You gotta be aggressive, butthen you also have to be like,
so I'm a really nice guy ingeneral.
Like, I'm a really good guyunless you owe me money or you,
and you steal money.
Like, you know what I mean?
It's like, it's reallyfundamentals.
(19:35):
Like, so, but like I
raymundo-investment-city (19:36):
all have our standards and our
morals and our codes, man, andwe can't let nobody
Track 2 (19:41):
a very, I'm a codified person.
I'm very heavy on codes cuz I'msitting here going like, Well
dude, I don't steal money andeveryone gets paid.
That's literally, that's likeeveryone gets paid.
don't screw over loop.
That's literally my only, that'sonly two philosophies.
I love paying people cuz if we,if I, if I get you paid, it
means we made money that I canpay you with, if you know what I
mean.
Like, like that's how it
raymundo-investment-city (20:02):
then, and then together, you could buy
businesses.
Like right now, my, my idealplan is like, get, get rich.
No.
Get wealthy.
Get my friends wealthy.
As many as I can get wealthy.
I wanna buy an island.
Man.
We could do whatever the fuck wewant over there.
You know what I mean?
Get drunk, get high, whatever,you know, have fun and live by
Track 2 (20:22):
there's some islands.
They're not even that expensivelike my wife is one of those
crazy people feel like Google,like how much is an island?
And then she like, I thinkthere's like some for like a
few, only like a few milliondollars.
And I'm like, sweet.
I mean, there's nothing on it.
But,
raymundo-investment-city (20:36):
Hey, you could build it, you could
build it in with, with, uh, withTom, in this market, which type
of real estate is like the bestto get into right now?
Track 2 (20:45):
ah, that's the, that's the toughest question cause
Well, most of the real estatein, in America is overpriced.
and the problem we're runninginto is all the prices are too
high, but now the interest ratesare too high.
So the problem is, is you'reoverpaying with no longer cheap
money.
So the reason the prices jumpedwas because there was so much
(21:05):
cheap money.
The fed dropped interest ratesto like zero, near zero, and
next thing you know, everyonejust shot up.
They're like, everyone juststarted buying everything.
Cuz it's like, like, it was likethe reverse of the bank run.
It was like, Oh wow, there's somuch cheap money.
Let's, we gotta just run outinto the street and buy
everything.
So the hedge funds and all thesesuper rich people, they bought
up all the real estate and thennow they drove up all the
(21:28):
prices.
And the problem we're having nowis that the interest rates are
skyrocketing because ofinflation.
So now, now I don't know what'sgonna happen, but now because
the, the, but now we have ouraffordability issues with
purchasing anything.
So.
Reality is, is right now isprobably a terrible time to buy
real estate in America.
but I mean, it's not to say youcan't buy real estate, it's just
(21:51):
the deals are much harder tofind and you're really gonna
have to hustle the, hustle, themargins on these, cuz I mean,
cuz right now I'm, I'm, I'minvesting in like Miss
Milwaukee, Wisconsin becauseit's some of the cheapest real
estate in America.
Right.
And weirdly enough, uh, what,what's weird, what's weird
though is Milwaukee actuallyhad, is having one of the best
(22:14):
years it's ever had withunemployment.
Like it's set the lowestunemployment.
It's been in years.
So it's like, but like it'sfunny though cuz everyone's
like, What the hell is inMilwaukee?
I'm like, well then employment'slow and the real estate's cheap.
I mean, that's all I need, youknow, It's like, well what
about,
raymundo-investment-city (22:31):
so you're saying that the bucks are
in Milwaukee right now?
Track 2 (22:34):
Yeah, literally the fucks in Milwaukee.
Yeah, man, I, man, I like puns.
I like you Ray.
I like you Ramondo.
I like puns.
That's a good one.
That's very punty of you.
raymundo-investment-city (22:52):
you know how much I've been dying,
not to say Luke did.
Track 2 (22:57):
Oh, dude, you know what's funny?
Did you know everyone's myfather?
Literally everyone, Five yearold girls are my father.
Who fricking 16 year old kidsare my father.
90 year old men are my father.
You know, it's bullshit.
All these sons of bitches shouldbe paying my child support.
God, Damnit, where were you dad?
You pieces of shit you need topay for Luke.
(23:18):
What about me?
And it's so funny, every timesomeone says that to me, I make
it super awkward, you know?
I'm like, Oh dude, where?
Where were you for me, Ramono?
Where were you for me?
Why didn't you take care of me?
You know how many times I wish Ihad a father figure in my.
Screw you, dad.
And then they'll, and then itgets so awkward, so quickly and
then they don't anymore.
(23:39):
It's really, it's quite, Yeah.
But I got a million stories,man.
raymundo-investment-city (23:41):
So I wanted to ask you what, like
your comp, like your company,you make millionaires, what
makes you stand?
Like, what makes you differentin the rest?
Like why should people work withyou?
Track 2 (23:50):
Oh, it's cuz really, I, I had found another person who
helps people do what I do.
So I, I let, I help people househack.
Right.
You know what?
House hacking?
raymundo-investment-city (23:59):
I would love to, I would love to
though
Track 2 (24:01):
Okay, so house hacking is so fourplexes.
So four unit apartment buildingsare considered residential.
So you can use regular FHA loansand conventional loans with
three and a half to 5% down, andyou can buy a four unit
apartment building and you canlive in one of the units and you
can rent out the other three andyou can actually pay your
mortgage off and also pocketmoney, right?
(24:25):
So I help, I train people how tobe livid like, and like for me,
it's funny.
So when I started, when I firststarted, one of the second
houses I ever bought was a fourbedroom house.
And I actually rented out theother three rooms in my house,
so I was the live-in landlord.
So I, I've evicted my ownroommates before, like, if that
gives you how much of a son of abitch I am, I will literally, I,
(24:45):
I literally serve that song,bitch.
I'm like, Here's your evictionnotice while he's, he's like
eating breakfast with thecereal.
I know you, I know you knowwhere I fucking sleep,
motherfucker.
But that's fine.
Just remember I got, I gotbrothers who just as mean as I
am, and then they're just like,Oh, oh, Luke.
It's like I've evicted my ownroommates.
I don't care.
(25:05):
Like, come on bro.
We all gotta die sometime.
raymundo-investment-city (25:09):
Now, now, now I know the, the house
hack, um, when you said it,Instagram, all the posts I saw,
they, uh, like a lot ofinvestors post that house hack,
they post memes about it.
know, like, like of coursesocial media makes everything
seem simple, but I know there'ssome work behind it, but I know
it's shit.
I know it'd be beneficial if youreally, uh, get into it.
Track 2 (25:31):
Yeah.
Well, well basically the way itworks is, um, I have a very
simple philosophy.
You don't have to tell them thatyou're the landlord and you're
just another tenant.
And if you talk to yourneighbors, which I highly don't
advise, I don't talk to yourneighbors.
And cuz what I used to do is Iwould actually hire a pro, like
I have a real estate license.
I could technically rent my nextdoor neighbor, I could rent that
(25:52):
unit, but I don't want them toknow I'm the next door neighbor.
Right.
I don't want them to know I'mthe owner.
Right.
So I will literally, I will gooutta my way to be like, Okay, I
will hire a property, I willhire someone else to, to fill
those units.
Cause I just don't want, I justdon't wanna exist.
Because otherwise at three inthe morning you get in phone,
you'll get knocks on your doorat three in the morning being
like, Hey look, my airconditioner doesn't work.
(26:12):
I'm like, I'm like, That's nothow any of this works.
Um, I don't want you knocking onmy door at three in the morning.
So, yeah,
raymundo-investment-city (26:20):
And they And they would do that.
They would do that
Track 2 (26:23):
And they will, they love that shit.
Like how, Well, I've actuallyevicted my own neighbors.
Like I've evicted my roommates,I've evicted my neighbors
before.
And like, it's funny cuz they'relike, Aren't you the landlord?
I'm like, No, I walk away.
Don't talk to them cuz they oweyou money.
So anyway, so there, there's awhole, like you can hire if you
don't wanna do it yourself, youcan hire people like me, you
(26:44):
know, property manager types.
Um, but yeah, I used to, So I'vedone both where you basically
buy a house.
Um, so when you do house hackingfor houses, right, what you
wanna do is you wanna have atleast, so you gotta remember.
If you have a group of more thantwo people, there's politics,
right?
Immediately there's politics.
So if you have a house of four,obviously you are on your side,
(27:06):
right?
You have to rent to one of yourbuddies always.
Because then the, because if youget two randos, the randos
aren't gonna band togetheragainst you and your buddy.
And usually you convince one ofthem that you are cooler than
that one.
Right?
But if you rent the free randos,you gotta be careful cuz if you
rent the three randos, thosethree randos could ban against
(27:27):
you as the landlord.
Cuz you know how that works.
It's like the landlord's abastard, let's, let's, let's
overthrow'em.
So you gotta be real carefulwith how, with like being a
living landlord, cuz I've had afew spots with my roommates and
they know you're the landlord.
So it's like, it's not so it's,it's not like, oh hey, you know,
I'm your roommate and there'sanother guy that does that wants
his money.
(27:47):
It's, Oh, no, Luke wants hismoney.
This is personal and you gottabe real careful with that.
So you gotta make sure.
So I, what I would always do isI would rent to minimum one of
my buddies and then you'd alwaysrent to ran.
You can get randos.
You can get randos.
Just make sure you do yourbackground checks, credit
checks.
And like I said, you live there,so you gotta make sure you like
(28:08):
each other, you know what Imean?
It's not, there's, there'smaking money, but there's also
getting stabbed.
Like, don't do that So,
raymundo-investment-city (28:17):
get stabbed.
Man.
This ain't, this ain't uh, thisain't Halloween.
Michael.
Michael ain't here.
Track 2 (28:23):
one of my tenant, he just went back to prison like I
was making that stab joke.
And he's like, Oh yeah, it doessuck.
I got stabbed 37 times.
I'm like that damn man.
raymundo-investment-city (28:33):
gotta be careful who you joke
Track 2 (28:35):
Oh yeah, dude.
No, no.
He thought it was funny.
Well, I'm pretty hardcore, soit's like my bullshit with these
guys cuz a lot of my tenants,they went to prison, right?
Cause prison, uh, ex-cons arelike one of the best tenants
ever because, um, no one elsewill rent to'em.
But they usually have good jobsand they usually like
construction.
They got good jobs, but no onewill give'em that chance.
(28:57):
And like I said, once you give,once you rent to them, they
always pay rent.
Actually, if, if your rentalsystem breaks down, they'll
literally call you and be like,Hey man, I got the rent.
Can I, can I, can I come meetyou right now?
I got it right now, I got it incash.
Where are you Luke?
I'm like, How God, uh, I'll justget the system up and running.
I don't, I don't need you to,No, quit calling me off.
I I'm not gonna, I'm not
raymundo-investment-city (29:18):
what's up.
That's what's
Track 2 (29:19):
it.
You guys got your, I got mymoney.
I'm taking care of it.
And then you sit there for liketwo hours trying to make it,
make the online system run backup.
But anyway, but like
raymundo-investment-city (29:28):
good though.
You get, you're giving peoplechances, so you know, we need
more people like that.
Track 2 (29:32):
weird being in this, in this, in this, in this niche cuz
like nobody likes you becauseeveryone just thinks you're a
slum ward.
But then, so I guess it dependson which, if you're on the
outside looking in, it lookslike I'm a slum ward taking
advantage of poor people.
But on the inside I'm a guywho's giving second chances.
The people no one else does.
So it's this really, it's areally weird niche cuz like,
(29:54):
like I said, from the outside,nobody likes me.
But then on the inside, oh, likethe people who do like you, like
you until they don't pay yourent and then they don't like
you.
So it's a very, It's actuallyfunny.
Landlording is one of thosethankless jobs.
Like no one likes theirlandlord.
Like, can you think of a singlenice thing to say about a
landlord in Exactly.
(30:20):
No one, no one's like hell.
I tell people, they're like,How'd you make all your money?
I'm like, Land.
And they're like, Wow, you mustbe a bad person or something.
I'm like, Sure.
The equity.
More Mundo after this commercialbreak.
Was good.
Yeah.
I'm proud and happy to announcethat.
All three Patrion tears is up.
(30:41):
Each with its own.
Per can benefit.
You want more moon?
No, you get more mono.
virtual version.
I tried to be a little bitreserved.
You know, on the regularplatforms.
But each.
T it puts you more in depth.
With who I am and where I'm atto go.
So.
Sign up to the show.
Go to www.patrion.com.
(31:01):
A forward slash the Raimundoshow.
Sign up is pretty easy.
yeah.
And I'll see you there don'tjust meet me there.
Greet me So Snoop dog But anywayback to the show
raymundo-investment-city (31:14):
You gotta have thick skin and be
that man.
But, um, I wanted to ask youabout the, the Airbnbs.
Like, well, I just got, I justsaw a report that they cracking
down about it in Atlanta.
Uh, what are the pros and consto getting into that?
Cause I see so many people doingthat shit.
They make it seem like it iseasy money.
But I know, uh, the challenge,
Track 2 (31:34):
Well, nothing in nothing in life is easy.
If that, if that, if, if, if, ifyou take anything from me.
Nothing in life is easy.
Everything's ugly.
Everything's dirty.
Like you, like you just, youlike you're trying to do the
right things, but the rightthings are actually wrong.
In some circumstances, it's,it's, everything's gray and
everything's ugly.
But I mean, as long as youunderstand the nuance of ugly,
(31:57):
you'll do fine.
But anyway, Airbnbs, so they, Ihave a love hate relationship
with Airbnbs.
I think they're awful becausethey, they destroy the local
culture in a lot of state or alot of cities, right?
cuz you'll have, what'll happenis, is you got these rich people
who buy out all these middleincome properties that should go
(32:20):
to locals and then they convert'em to rentals.
So they're, they're like, so Ithink it's gross because it's
like you're destroying theculture of a city to make a
quick buck.
But on the other hand, I mean,it's gonna happen anyway.
I can't
raymundo-investment-city (32:35):
As well.
Track 2 (32:36):
so I'm, I make money off it.
So it's one of those, it's oneof those.
But then again, sending me andLandlording, it's like someone's
gotta be, someone's gotta buythese properties.
Nobody wants to rent to thesepeople, nobody wants to rent to,
you know what I mean?
So, I don't like Airbnbs ingeneral, but Airbnbs, they're
not easy, but as long as you buythe right house for the right
price, they make really goodmoney.
(32:57):
And I have a very simpleformula, at least 10 days,
right?
So 10 days of rental income froma Airbnb should cover your
mortgage, right?
So 10 days of a rental shouldcover your mortgage and then you
should be fine.
Obviously, I'm not giving anyreal, this is my, one of my
(33:17):
disclosures.
I'm not giving you real estateadvice.
These are the formulas that Iuse their opinions and they work
for me.
However, they might not work foryou.
Please don't, Please don't takethis and go lose all your money.
Cause I just disclosed not myproblem anyway.
So I, I think, but, but like Isaid, I got this really nice
place out in New Mexico.
We bought it for$150,000.
(33:38):
Right?
And it's a really weirdlocation.
I actually call, I call itcottage core New Mexico cuz it's
like somebody built a cabin.
On an acre lot in the middle offricking nowhere.
And we bought it for like$150,000.
And the thing is super weird.
Like it's a super weirdproperty.
It's probably like a half amillion dollar property.
Like they put a ton of money inthis thing, but because they
(34:00):
build it in such a weird spotthat they, they, they just can't
sell it for any amount of money.
But I bought the thing, ourmortgage is only like 800 bucks,
right?
But then the thing cash flow islike 3,500 a month.
And the thing, it's ridiculous.
But that's, that's, I mean,that's not par for, that's not
normal.
That's just stuff that I dothat's like, cuz I've been doing
(34:21):
this so long.
So I've just like, so stuff popsup and I say, Oh, that's a nice
one.
Boom.
And then I buy it and I do it.
So and then if you have, if youthink that the government's
gonna crack down on your Airbnb,what you should do is you should
lease the properties, then youcan actually get out of'em with
no harm, no foul.
Okay.
raymundo-investment-city (34:40):
Nice.
Track 2 (34:41):
So if you're like in Atlanta and you think that the
government's gonna change thelaw and they're gonna crack down
on you, lease the property.
Just convince a landlord, Hey,I'm gonna run an Airbnb business
outta your house.
Here's the contracts sign done.
Then if in hell, you could evenmake the deal month to month.
So the moment the city cracksdown on you, you just say, Oh,
(35:02):
third day notice you take yourmoney and you leave because you
don't own the house.
You have no affiliation to thehouse.
You collect your money and youget out.
So I, I tell people a lot ofthat when they buy in HOAs,
cause a lot of HOAs are changingtheir bylaws to get rid of short
term rentals.
However, if you're leasing, youcan just walk away.
Like there's no lawsuits.
(35:23):
I don't have to go to the HOAboards, I don't have to fight
people in the street.
I just say, Okay, here's my 30day notice.
I made my money and I, and Iwalk away.
And that's like one of thosereally crazy strategies.
People are just like, Oh, That'sWow.
I guess I could just do that.
I'm like, yeah, like why?
Why buy a half million dollarhouse and then find out it's a
really bad Airbnb, You know whatI mean?
(35:45):
I'd rather rent a house that's ahalf million dollars, find out
it's a bad Airbnb, and then just30 day notice by way out and
leave.
You know what I mean?
raymundo-investment-city (35:53):
I mean, that's good.
That's good information,especially that just coming up
now, you know, a lot of peopleare gonna benefit from that, so
can't wait to post that.
I might post, I might post thatpart before the video, before
the actual episode.
Track 2 (36:05):
Well, what I mean, cause everyone's like, Oh, we
gotta buy and we gotta havelawsuits.
And I'm like, No, dude, justrent the thing and like rent.
And if it makes a lot of moneyand like hell, if it rents a, it
makes a lot of money then, youknow for a fact you can buy a
property in that neighborhoodand you already know it makes a
lot of money.
Like, I just don't understandwhy someone would buy a million
dollar property for the hopesthat it'll make a lot of money
(36:26):
in Airbnb.
It's just.
Well just rent the thing and seeif it works, you know?
Cause your mortgage is just, isvery similar to the rent anyway.
So like, it, what's it matter?
But whatever.
raymundo-investment-city (36:36):
That's true.
so I want you to let mylisteners know, like, why, why
is it important to have like afinancial plan?
like, I feel like you justcan't, something like this when
it comes to retiring early andbeing financially independent,
you can't leave it to chance.
Like you need to organize, go toplan.
Coming from an investor, Ithink, uh, you know, letting
them know why they should have afinancial plan,
Track 2 (36:57):
Here's, here's what I'm gonna tell you.
I grew up in a trailer and Iachieved fire in 10 years.
Okay?
If I can do it, I mean, I mightbe smarter than the average
bear.
But,
raymundo-investment-city (37:09):
uh,
Track 2 (37:10):
I like, like, like I'm.
I'm not the brightest bulb, I'mjust slightly like, I'm smarter
than the average bear, likepicnic baskets and everything.
But like at the end of the day,I'm not Exactly, I'm not, I'm
not a genius.
It's not like, you know what Imean?
I just, I'm just willing to dowhat it takes to make money.
Right?
Cause most people, they won't,they won't buy a four bedroom
(37:32):
house and rent the other threerooms to make money.
You know what I mean?
Like, for example, my mortgagewas like, you know, X dollars.
And then a lot of people don'trealize is the, the, the biggest
suck on your income is rent.
You have to eliminate rent soyou can eliminate rent.
Imagine how much extra money youhave a month that you have to
(37:55):
play with.
raymundo-investment-city (37:56):
And you can use that money to invest
even more.
Track 2 (37:59):
Exactly.
Or you could, I mean, or youcould just have extra money to
live better.
Cuz then you can negotiatebetter salary because you have
have income.
I'll give you an example what ofmy clients, he's the security
guard.
Okay.
He owns two four plexes in twodifferent states.
So he owns eight rental units,two apartment buildings.
Okay.
He is a security guard with ahundred thousand dollars in
(38:21):
student loan debt and he has twobuildings and he semi-retired
be, and he, he literally quitshis job like every two years.
If his boss pissed him off, he'slike, he's like, he's really
like, you know, I don't have towork here.
I got two buildings, asshole.
I don't have to work here.
He literally quits his job like,it's like clockwork every two
years.
He's like, and it's funny cuzhe'll talk mad shit cuz he is
(38:43):
like, cuz his boss is like, Hey,can you do these?
And if normally people likeworking class people, they have
to do it cuz they're livingpaycheck to paycheck.
So it's like they gotta, theygotta do these things they don't
wanna do.
raymundo-investment-city (38:54):
Yeah, you don't have to.
Track 2 (38:56):
but he doesn't have to.
He literally, because he has theextra money and it's not, he's
not rich.
Mind you.
He's not rich.
Okay.
It's just we did the rightthings.
To replace his income.
Like even, it's not like, it'snot even like he makes a million
dollars a year.
It's the sheer fact that he has,like, he can quit his job and be
unemployed for two months andit, it doesn't cripple him
(39:19):
financially, you know what Imean?
Like, he can look for a job thathe wants to do, not, I have to
take the first job that I takebecause that's, that's, that's
all I, because I need, like, Igotta pay rent.
Therefore, you're willing totake lower wages just because
you need to pay rent.
But for him, he doesn't have to.
(39:39):
He, he, he literally, he livesin his unit.
He lives rent free because hisother tenants pay him, pay him
his mortgage and he actually,makes his pockets like an extra
grand or so.
And then he just bought, Andthen the thing was we cash out
Refied his house, his fourplex,we cash out, Refied it, we
pulled 200 K out.
And with that 200 k we boughtanother fourplex.
So now he owns eight units andlike I said, he's just, he's a
(40:02):
freaking security card and hemakes like 20 bucks an hour and
he owns two fricking buildings.
Okay.
It's just like, it's not, noneof these things are impossible
to do.
It's just they suck cuzobviously that fourplex isn't a
nice neighborhood.
Right.
And, and he had, he had to livein the hoarder property.
It's so funny, he lived in thehoarder property and he hates
(40:22):
roaches cuz the place had likeroaches.
It took us like six months toget the roaches out.
but now we got, we finally gotthe roaches out and I mean, he
doesn't live in a niceneighborhood, but, you know, he
had, he now can do the things hewants to do and like I said, he
can quit his job and he doesn't,he's not, he's not, he's not
jones in for money every 10minutes.
And that's the thing, it's, it'sbeing able to have the, that
(40:44):
cushion and to have that cashflow that eliminates those daily
bills that forces you to makepoor financial decisions.
Cuz people will make thesedecisions.
Cuz it's like, Oh, hey, I havean emergency.
I need a job now.
And then you're just basicallygoing from job to job and like,
there's no arrest.
You know, There's no rest forthe weary.
And that's the problem with alot of people is they're too
(41:05):
busy, they're too busy hustlingand running and running and
gunning and it's just like, Ohman, you get, you can't do that.
You gotta,
raymundo-investment-city (41:12):
You need, you need like real energy
to pull through.
I, I read a lot, so I don'trealize like to have that
willpower, to have that, thatpush when you feel like you've
been knocked down too much, yourenergy, your rest makes a
difference.
I want to ask you, what does ittake to work with you?
Like what's the, is that incomerequirement?
Like how does that,
Track 2 (41:33):
um,
raymundo-investment-city (41:34):
got me, you got me interested.
Track 2 (41:36):
Here's how my system works.
Um, uh, if you can't afford me,Then I have classes, so I have a
whole classroom system you couldpay for the classes.
It's pretty much everything Iteach.
It's just you don't get anypersonal touch.
but if you could afford me, andI'm not cheap, obviously, it's
just the law of, of, it's justthe law of business.
(41:57):
If you don't have enough moneyto make money, then you don't
have enough money to make money.
So it's like, and I can't, Ican't help you.
You know what I mean?
Like, I have some people thatare like, I make, I make$12 an
hour and I'm like a hundredthousand dollars in debt.
And it's just like, it's justlike, well, you need to get a
better job.
And you ha like, there's just somuch legwork to get, cuz I call,
(42:19):
actually I do a poverty class, apoverty trap class.
And what people don't realize isyou have to make a certain
amount of money to escapepoverty.
So in the way the poverty systemworks, so like Dollar Generals,
Dollar Generals are a povertytrap business.
Cause they make you pay for apound.
They make you almost pay triplefor a pound to sugar.
Then if you got it from like anactual grocery store.
(42:40):
So you got your Dollar Generals,they, or make you, they make you
overpay for sugar.
Um, you got your, what else isit?
The gas stations, they make youoverpay for cigarettes and
booze.
Like you got all these.
And then the thing is, it's likeif you have children childcare,
that's like another one of thosethings.
It's like, it's like, so youactually have to make a certain
income to escape the povertytrap.
(43:02):
And like I said, the the, the ethe only way really to get out
of the poverty trap is toeliminate that rent.
I'm against buying houses withmortgages unless you're gonna
rent the rooms.
Right.
Cause otherwise you're justreplacing rent with mortgages.
And it's just like, it's justlike you have to eliminate, you
have to have, you have to be onthe cusp of escaping the poverty
trap for me to work with you,because otherwise I can't help
(43:25):
you.
Right.
There's just too much, there'sjust too much going on and going
wrong that you, you, you, Ican't help you escape.
Like I can give you, I can, Ican put you on the right path,
but if you don't do the thingsthat you need to do, and, and,
and then I guess it's notentirely true, it, like I'll
work with some people if they'rewilling to do like the house
(43:46):
hacking, right?
I can help you buy a house andlive in it and do the fourplexes
and that kind of stuff.
But the problem with that is youstill need a down payment so
that you still need like 20, 30,$40,000 in the bank account.
So it's like, I mean, it, it'sjust there's a very bare minimum
required for finances.
Otherwise, you know, I can't, ifyou don't have the money to, you
(44:07):
know, escape the poverty
raymundo-investment-city (44:08):
not, you're not gonna be able to help
them anyway.
So it's like, you know, and, andtime is important.
You, time goes by quick,especially when you got a lot of
things going on.
So you don't wanna waste eachother's,
Track 2 (44:20):
to people.
Like I'm,
raymundo-investment-city (44:21):
you gotta be real.
Track 2 (44:22):
And it's funny too, cuz like, it's funny though cuz
they're like, you're kind ofmean.
I'm like, Oh no, I'm, I'm, I'm,I'm a realist, right?
Like, here, here's the deal,right?
If I, if you can't helpyourself, I can't help you.
And if you're in the povertytrap, I can't help you escape
the poverty trap without youdoing the things you need to do
to get outta the poverty trap.
And I, and I assure you, beingin the poverty trap, that's,
(44:43):
that's a terrible place to be.
Like, you gotta dig, you gottadig it.
It's like, I imagine it like,um, Like, you know, if I was a
rabbit and, um, the rabbit holecollapsed, right?
And that, that that rabbit'sgonna just dig his way out.
And it's just, you know, it'sjust fight tooth, the nail blood
and gut.
Ah, I don't want to die downhere.
That's the poverty trap.
(45:04):
And it just sucks because such alarge majority of America is in
the poverty trap.
And,
raymundo-investment-city (45:11):
you know, I mean, it's bigger.
I, I don't know.
I feel like it's set up thatway.
It's, it's, but that's anotherepisode.
Track 2 (45:17):
but that's why you need the financial planning.
Cause it's like, without the fi,like, see, I came from the
poverty trap.
I had nothing and I clawed myway out of the poverty trap.
And the thing is, is like,That's the people I like to work
with are the people that arelike, I make just enough money
to escape the poverty trap and Iwant out.
And it's like, Okay, good.
Well here's what you gotta do.
(45:37):
You gotta do X, you gotta do Y,and you gotta do Z.
And it's like, why don't wannado X, Y, and Z?
I'm like, Then here's the deal.
That's the only way out of here.
Like, you know what I mean?
It's like you gotta dig your wayout and this is the only way,
but why can't I just be the CEOof Starbucks?
I'm like, Cause there's alreadythat guy and you're not him.
Okay, congratulations.
(45:58):
I can, I could blow, I couldblow very fairy tales off your
ass and, and daydreams andunicorns and shit.
But I'm not going to, I'm gonnatell you this, how you make
money.
It's, it's long, it's arduous,it's ugly.
Like you're gonna have to evictpeople.
You're gonna have to, you'regonna have to evict your own
roommates.
You're gonna have to do someugly shit to escape the poverty
trap and like that.
(46:18):
That's literally, I have anentire class on just the poverty
trap.
And I mean, I mean, that's yourcash.
The loans guys, those are theguys like that's your unbanked,
that's your, your cash loans.
Like he's not gonna charge you$20 to cash your check and cash
the loan place.
It's like, dude,$20.
That's so expensive.
It's like,
raymundo-investment-city (46:37):
I see, I see what you're saying though.
But it's good that you keep itstraight up, man.
I don't know.
I always, even if I don't likeyou and you honest and keep it
straight up, I gotta respectyou.
That's, I feel like that's theonly thing that matters cuz
respect goes a long way.
Liking, liking.
I could not like you in, in, inthe second.
So, ah, damn.
What I wanna, so what I alwaysask this question, it's like my
signature Raymundo showquestion.
(46:59):
What role does fear play in yourlife?
Track 2 (47:01):
oh, fear.
raymundo-investment-city (47:02):
Yeah.
Track 2 (47:03):
Oh, I have no fear.
That's why I can do all thisshit.
I have one simple philosophy.
I'm gonna die.
It's probably.
Probably gonna be terrible,horrible death.
However, I'm gonna have so muchfun.
I'm gonna have so much fun on,on my way there that it doesn't
matter.
Cause I'm a story person.
I'm that guy.
I just sit there like, I'm theguy that's like holding my beer
(47:25):
while, while we do somethingstupid.
And I have a, I have like amillion stories just like that.
Like, I had this one guy, he wasbreaking into my house, okay?
He was going through thesecurity bars.
Like you're going, he'sliterally sitting there with
like a spoon, like digging intothe stucco, trying to get the
bolt out.
And I'm sitting here going,like, I had just sit there and
watch him for like at least twoor three minutes.
(47:45):
Like, watch this guy break intomy house.
I'm like, like, this is soawesome.
Digging out the, digging out thebolt of your security bar to
break into your vacant house,that, that might just so he can
do drugs in your closet.
That my friend, that that is,uh,
raymundo-investment-city (48:00):
Yo, you
Track 2 (48:01):
That's pure life, my friend.
raymundo-investment-city (48:03):
you must had, you must had a lot of
stories with cracks, man.
That But you gotta, you got aunique way of thinking, man.
I like the way you think.
Track 2 (48:11):
I'm happy for the second chances.
I provide people.
I'm happy for everybody.
However, it's such an harsh,ugly world that I inhabit.
You know what I mean?
It's such a harsh, ugly worldthat I have it, but I also want
success for others.
But I'm also, I also understand.
They might never beat the drugand they're gonna, they're gonna
steal my copper.
They might relapse.
(48:32):
You know, you, you gotta, it.
It's, this is one of, it's, it'ssad.
It's, it's a really sad thing inthe world that I have to
inhabit.
But anyway, that, that, so ifyou're gonna work with me,
that's why you need a financialplan because the only way out is
up.
You know what I mean?
That's why like one of myfavorites saying is, Hey, you
know, what's the best part aboutrock bottom?
raymundo-investment-city (48:52):
That, um, that you are on your back.
So when you look up, you get up.
So shit
Track 2 (48:57):
Well, the, the best part about rock bottom is
there's only one way left to go,my friend.
Yeah.
Yeah.
We can only go up and guesswhat?
I always like to think I'malways at rock bottom.
So therefore it, like, I, I justlike, Oh man, we gotta keep
going.
Cause I'm already at rock bottomand I just keep going and going
and going.
Anyway, so I, I've told peoplethat knife thing, and they
(49:18):
always get weird about it.
I'm like, No, no, no, you don'tunderstand.
Like, cause like I said, I dealwith, I used to deal with this
daily, I used to deal withoverdoses, shootings, stabbings.
Like, Oh man,
raymundo-investment-city (49:30):
it sound like my neighborhood
before gentrification, that shitwas a regular day for me.
Track 2 (49:34):
oh,
raymundo-investment-ci (49:35):
Gunshots every day, People pulling out
knives.
All types of wild shit growingup in the hood, man.
But, um, if everyone forgets allthe shit that we done spoke
about today, what's one thingyou want them to remember?
Track 2 (49:49):
oh.
Um, I'll start out with the wayI, with the way I came in, 50%
of the world will not like youand who cares?
Make, make all your money on theother 50%.
You know what I mean?
raymundo-investment-city (50:02):
Nice.
Track 2 (50:03):
you a perfect example.
My wife, my wife's sister, mysister-in-law absolutely hates
my guts.
Absolutely.
It's my guess.
She would not, she would notpiss on me if I was on fire.
Right?
But my wife,
raymundo-investment-city (50:15):
She don't like your ads.
Track 2 (50:16):
loves me.
My wife loves me to death.
She is the, she is the bestwoman in the world.
And guess what this comes toshow?
Even in the same family I havethe 50 50 ratio, it's like, oh
yeah, that like the half herfamily just hates my gut.
So the other half is like mywife and just loves me to death.
And it's just like, just, youknow, if I teach you anything,
(50:36):
it's, you gotta get over that.
Cause this goes back to thatfear thing.
See, cuz if you believe that 50%of people hate you, then you
don't have fear no more it'slike, you know, water on an OTs
back, my friend who cares?
It's like they're on the side ofpeople who hate your guts.
Cuz I've made so many peoplemoney, I've made millionaires,
I've done, And that's because,you know, we liked each other
(50:58):
and we meshed.
And it like, that's like thenumber one rule of sales.
If you can't, if you don't likesomeone, you probably can't work
with them.
But.
If I teach, if I, if you learnanything from me, that my friend
is the key is getting over thefact that 50% of of the world
just, just gonna hate your guts.
And that's
raymundo-investment-city (51:13):
Don't care about you.
and if someone wanted to workwith you or, get more content
from you.
Track 2 (51:19):
Here's what you can do, You can check me
out@ww.rhmreal.com.
That real is as in like realestate.
So rm real.com.
It's so for the military guysout there, it is Romeo Hotel
Mike.
Oscar Hotel.
Oh crap.
I think that's my wife.
Uh, speaking of which, Sobasically, um, just set, check
(51:42):
me out@rhmreel.com.
Uh, you can submit yourquestions or information, uh, to
my email.
Uh, once you get my phonenumber, what I usually have my
clients do, you can apply to,uh, be one of my clients and
I'll look everything over.
And as long as you meet, as longas you meet, um, my
requirements, so my biggestthing is getting people out of
(52:05):
the poverty trap.
Like I said, most of my clients,they were all poor or not, but
they weren't poor, but they werelike, they lived their day to
day lives, you know, the wayeverybody lives.
They the paycheck, the paycheck,you know.
But then we helped them buy arental property and then we
helped them do this and wehelped them do that.
And the thing is, like I said,it's not rocket science.
(52:25):
It's, it's just, you gotta dothe work and you just gotta get
over the risk.
Cuz I mean, all might blow up inyour face, but I mean, if you're
already a rock bottom who care
raymundo-investment-city (52:35):
But,
Track 2 (52:36):
cares?
So anyway, so check meout@rhmreel.com and uh, yeah, so
usually I have people applythrough my email and that's how
you can get a hold of me.
raymundo-investment-city (52:45):
and on that site, he got plans for
everything.
Even I saw a plan up there fordivorce.
So he's ready, he's ready forany time.
Track 2 (52:54):
I love, I love the horse is my favorite.
How do I hide my assets from thesignificant other?
That's the good confession.
I, that is the number onequestion.
How do I hide my assets from mysignificant other?
That my friend is a wonderfulquestion.
So,
raymundo-investment-city (53:09):
um, but um, yeah, I want to thank
you man.
It was fun.
This was fun.
Like, like we said, it would be.
you're a great guy, man.
I wish you the best ineverything.
But until next time,
Track 2 (53:20):
yeah.
Thanks, Ramono.
(54:21):
If you don't invest in yourselfto start investing.
You continue to work a job youhate.
If you don't fail to demonstratethe discipline, it takes to make
your life great.
Like the wall of China.
You'll be built to last.
Like a Ford truck.
And you won't get stuck in thepoverty trap.
You can escape like a RNB groupfrom the nineties.
Regardless how you make yourmoney.
(54:42):
Real estate is the way towealth.
Take care of your family bills.
And especially your health.
Social security don't guaranteestability.
So you do what you have to.
Now while you still have theability.
To put it together.
So no matter the weather, youdon't have to depend on a rainy
day fund.
Just having the know-how youeventually have entrepreneur and
investor in your profile.
(55:03):
You can't become anything.
If you don't take action.
Make sure you laugh a lot, butdon't allow your life to be a
comedy.
Or the story that starts withyes, so much potential.
But fail to do the things thatwere instrumental.
Just because you were off thehook.
But integrity can stay in thedark for too long.
But the weight that it holds isgold.
Yes, that's strong, but I wantto thank everybody for joining
(55:25):
me on this episode.
I want to Luke Thomas.
For dropping knowledge when itcomes to real estate investing.
And giving them some amazinggems that we can start trying to
use today or get ready for.
I think I should definitely lookinto it, especially if there's a
certain life you want to live.
When I haven't to worry aboutbills and.
Rant or anything.
(55:45):
Involving money.
So you can truly be your best.
You.
And I'll make decisions based onbread.
But if this is your first timejoining Or you will regular.
I love you.
I hope you have a great one tillnext time.
Peace, love Mundo out.
is your host.
Raimundo.
Welcome to my show.
Where we relate.
Laugh.
And hopefully learn some shit inthe process.
But this is episode 39.
Investments city.
Real estate edition.
To get that true wealth.
We got to have real estatesomewhere in the mix.
(00:42):
But before we get in and that Ikicked the habit, I just.
Let's go let's go.
Today's quoted a day is broughtto you by.
Warren buffet.
I will tell you how to becomerich.
Close the doors be fearful whenothers are greedy.
(01:05):
Be greedy when others arefearful.
And I think that's that's dope,man.
Cause.
There's not a guarantee way towin an investing unless you
inside a trade-in.
I know a lot of us don't want towork forever.
So I think it is worth.
Learning investing.
I feel like more than school,more than anything, like.
(01:26):
I'm making my kids learn aboutinvesting as soon as.
The fucking 10, like.
I'm going to put it in the mostsimplest form.
Because.
Until you make the money workfor you, man.
It just, it's just going to bethe cycle.
And.
I mean, I'm not experiencingyet, but I'm striving for it.
Like there's something I reallywant.
But.
I haven't made the fulltransition or transformation I
(01:47):
need.
Telling you all that informationsometimes can.
Make you feel stuck.
That's why you got to give it tothe action takers.
You got to be an action taker,and it's going to feel like
you're doing something wrong atfirst, because it's something
you're not used But once you getused to taking that action and
it becomes a habit.
Sky's the Or the sun worth theicarus But you always got to be
(02:11):
doing what others is not.
If.
If 99% of the world, the greatin real estate.
Then.
You should be trying to dosomething else.
I like to that extent.
I've had.
Small experience in investinglike.
Like baby experience.
Ah, so, you know, so.
Definitely.
was dope to get somebody.
(02:31):
that's been doing the, for along Uh, through real estate and
he has a.
Adult way of seeing things andhe has a great perspective.
But let's get into the episode.
Of best Smith's city
raymundo-investment-city (02:46):
So on this episode, I want to give
y'all some value when it comesto investing.
you gotta learn how to make yourmoney work for you.
If not, you'll be working forthe money forever.
I'm blessed to have a specialguess that's knowledgeable and a
lot of, different areas ofinvesting.
And he got great fucking energy.
So I wanna welcome to theRaymundo Show Lucas to
Track 2 (03:10):
Uh, sweet.
I got my own soundtrack andeverything.
Uh,
raymundo-investment-ci (03:17):
brother.
How's
Track 2 (03:18):
let's go on fan freaking.
I hope that, I hope.
I think we have, I think I'malready excited cuz uh, we were
talking before and I think wehave perfect energy together.
Um, and I'm really excited causeuh, sometimes I go on these
podcasts and the immediateresponses, uh, I just don't like
you Luke.
And I'm like, you know what Ifound?
I figured out, like when I was akid, one of the most valuable
(03:41):
lessons I was ever taught is 50%of of the world will hate you,
but you make all your money onthe other 50%.
So you don't give a shit.
That, that's, that's the, that'sthe most valuable thing I
learned as a kid is, uh, make,make, make all your money on
that half.
Like, don't go.
Who cares about the other half?
Who cares?
Fast, strong.
Like where I live in this worldwhere there's other fitness
(04:02):
that's half though.
Oh man, they love me.
They love me.
They'll go to bat for me.
They'll, they'll, they'll, theylove me all day, every day, but
the other half.
So anyway, that's.
raymundo-investment-city (04:12):
That's that balance right there.
Track 2 (04:13):
It's so fun being where I'm at now cuz I grew up in a
trailer with no money and thennow I hang out in the financial
planner world, which I hang outwith people with way too much
money.
And it's like this really funlittle balance between the two
worlds cuz I'm like, I'm like, Icould see how nine, none of you
see eye to eye.
And, um, I pretty much, uh,yeah.
(04:34):
Uh, it's, it's weird being thein between, between the two
worlds, just being like, Ohyeah, I remember, I remember,
uh, living in a trailer andbeing like, Oh man, you'd be
cool eating today.
That'd be really cool.
You know what I mean?
And then now I'm kind of like,gas put up and val, I'll get up
in price today and I'm sittinghere going like, Oh, I don't
even care anymore.
Whatever.
raymundo-investment-city (04:55):
but it's good though cause it, it
keeps you humble.
You know, you know, you know howit is to, to not know how to,
you know, what you are going toeat and now you can eat whatever
you want.
So it's a beautiful thing.
where did, where was, where wereyou raised?
Like where was this trailer?
Track 2 (05:10):
Oh geez.
I went from a town of a thousandpeople in rural Pennsylvania, so
that's why I have
raymundo-investment-city (05:16):
Pa
Track 2 (05:16):
No, no, no one can place this accent.
They're like, You from thesouth?
I'm like, I know it's evenworse.
I'm from the north, but like,yeah, I'm from the north.
But the problem is, is peopledon't realize is like, you know,
when you're from rural parts ofthe country, you get like really
strange accents.
And I, I have like thishardcore, uh, slur.
(05:37):
I don't even know what it is.
But anyway, I, I, I've been, andit's funny cuz I've, I've had
this my entire life.
If people just assume I'm anidiot, just cuz of the way I
sounded, I'm like, oh yeah, Icould see that.
I could see.
So usually I'll do my, uh, my,my classes and I'm like, It
takes me at least two hours toconvince someone I'm not an
idiot.
And then I'm like, Oh, good,good.
It took me two hours, but I, Iproved to you I'm not an idiot.
(06:00):
I mean, it's an uphill battleand I'm over it, you know?
raymundo-investment-city (06:04):
you know, what is the, one of the
best things I heard?
It doesn't, it doesn't matterhow you speak, is what matters
is they, that they understandyou.
So as long as they understandyou and they learn and they're
getting what they need to get itis all good, man.
I know.
Track 2 (06:16):
why you got half the population.
See, talk to that.
Yeah, yeah, yeah.
And trying to, trying to figureout which half it is so you can
just stop talking quicker.
You know,
raymundo-investment-city (06:25):
So, so tell my listeners, uh, pretty
much just scheme of things, whatyou do, what you do for a
living.
Track 2 (06:32):
here's what I do.
Um, I'm a financial planner fora living.
I help people achieve fire,which is a financial
independence.
Retire early.
Um, I was a real estate agentfor 10 years.
Um, I was a copywriter before.
I've always been self-employed.
I haven't had a real job sincethe Army, which has been like
almost 12 years from now.
(06:53):
So I haven't had a, like my lasttechnical so that the army isn't
technically a job cause youcan't get fired.
Right.
So my last real job was Walmartcashier.
Okay.
So last real job I had was, Iwas a Walmart cashier working
for$10 an hour and I was on foodstamps and it's funny cuz I made
too much money, so they onlygave me$35 in food stamps and,
(07:15):
and like I'm sitting there goinglike, Hey, here's my food stamps
and I'm gonna buy rotisseriechicken cuz I'm just assuming$5
rotisserie chicken is the bestuse for my$35 in food stamps.
Um, those, those were the goodold days, but
raymundo-investment-city (07:28):
how did the ra uh, Rhm come
together?
Boy, were you like hanging outwith your boys and you like, Yo,
you my right hand man?
And you were like, Yo, that'sit.
Track 2 (07:39):
No.
So what I've got into realestate is really funny.
So normal real estate agents,um, you know, like, so here's
how I'll tell you how a realestate agent is born.
Normally what happens is, issomeone with money, right?
Buys a house and they go, Ohwow.
That real estate agent makes waytoo much money.
I can't believe they make thatmuch money on this one.
Transac.
That's crazy.
(08:00):
And then that, that person thengets their license and that's
how a real estate agent wasborn, right?
raymundo-investment-city (08:06):
Oh, okay.
Track 2 (08:07):
I was born.
Through fire and brimstone, andmy very first property came to
its own crackhead, right?
It was great.
This guy did the showing andeverything.
He's like, Hey bro, let's killit in.
I'm like, Oh dude, this isawesome.
And then he's walking me aroundthis condo and he's like, Yeah,
we don't really go upstairs.
(08:28):
Did you know what the worstenemy of a crackhead is?
Do you know what it.
raymundo-investment-city (08:31):
Um, Stairs,
Track 2 (08:33):
Yes.
Because when they're, whenthey're, when they're tripping
out of their minds, they falldown.
'em.
So they, so what they'll do,what they do is they put the
beds in the living room on thefirst floor.
So they, and they don't goupstairs.
It's, it's absolutelyfascinating.
I'm sitting here getting like,I'm like, I'm like walking
through this, and I'm just like,Oh, wow, this is so much fun of
getting like a, And they evenhad like, it was like, it was
(08:54):
great.
They had stolen stereos in thecorner.
They had like the rottweiler inthe yard.
It was great.
Oh, man,
raymundo-investment-city (09:00):
they had a, they had a organized,
they had it together.
Track 2 (09:02):
Professional crack heads, like they, these guys
were, you know, they were, theywere fantastic.
So when I would, when I, when Istarted buying property, when in
college I was a copywriter and Imade really good money, But
copywriting's so boring.
When I started becoming a realestate agent, I was like, what's
the easiest way to make moneywithout having to work again?
Right?
(09:22):
So then I started buying rentalproperties because if you buy
rental properties, you can cashflow 2, 3, 4, 5,$600 a month as
long as you can buy'em.
raymundo-investment-city (09:32):
What year was this?
What year did you start
Track 2 (09:34):
that was 2014.
So that was, that was eight,nine years ago.
So that was 2014.
Um, and it was great because Ibought the place and then I show
up and I tell the real estate orI tell the police cuz they
didn't leave.
And I'm like, you gotta get out.
I own this place.
They're like, we, we live here.
You can't tell us what to do,don't like, lovely.
So I call the police and thepolice show up, you know, two
(09:55):
hours.
It's one of those neighborhoodswhere you call the police and
they show up two hours later cuzthey just assume.
Hey, hey, can clean it up.
I, Yeah.
You know, if they, they show uptwo hours later cuz it's easier
to clean up than it is to, youknow, stop it.
Yeah.
So it's one of thoseneighborhoods.
So I'm sitting there, I'msitting there with my battle
buddy cuz that's what you, youjust, you don't, you never go to
(10:17):
these place alone.
You always got my battle buddy.
We're sitting there for twohours waiting for the police and
we're just sitting there goinglike, Man, this is fun.
You buy a 40,000 condo, you sitin your car waiting for the
police to show up two hourslater.
And, uh, yeah, this is, this is,this is real.
Congratulations Luke.
raymundo-investment-city (10:33):
I was a real estate agent in, in New
York City.
Um, I, I didn't get to thehouses part, but I did the
rentals and it happened.
I went to a Trump seminar andhad like, epiphany.
It was like, Oh, this is what Iwanna do, but then didn't do the
investing.
I did rentals just cuz I feellike I wanted to build like,
some reputation first and thenget into it.
But like, I've attempted to getinto it.
(10:57):
Like, I try to get into thewhole sailing, but I never, I
never followed through.
So, you know, talking tosomebody that's in the game,
like really, doing it.
What you say eight, nine yearsis, it's good to get your, your
feedback on stuff.
Um, in the military.
What, what, what did you learnthere that, that gave you, like
that strategy that, That mindsetthat
Track 2 (11:16):
Oh, so I've always been too smart for my own good.
I was one of those kids that'slike, um, well I was, I was
little asshole cuz I was, I wassmart.
I was always been smart.
And then, the only reason Ijoined the army was because,
student loans will, they, theywill chase you for the rest of
your life and then you.
raymundo-investment-city (11:34):
that's true.
Track 2 (11:35):
with the, with the military though, it's like, Hey,
do your four years, here's yourend date free college.
I'm like, Oh, I can do that.
And I that's, it's so funny.
I was getting, I would get themilitary training, they'd be
like, Well man, you're herebecause you love your country.
Oh, I'm here.
Cause the GI Bill is a beautifulprogram.
So, so I joined the Army justso, uh, cuz like I said, I've
(11:57):
always been very, I've alwaysbeen very pro money.
And the hardest thing withpeople, it's like, it's like
everything I do, it's all about,it's like, okay, how do I avoid
what trips most people up?
Right?
Most people, they go to college,they get loans they can't afford
and a degree that's stupid andthey don't get, they can't get a
real job.
My philosophy was join the army,get free education, go into
(12:20):
business school because at leastif business, because my wife,
she's an engineer and the thingis, is she was become an
aerospace engineer.
But we decided not to, wedecided to do mechanical because
mechanical can go anywhere.
Same thing with business.
It's a degree that it, that issuch, so many avenues of
approach for getting jobs andlike doing well in the world.
(12:42):
But if she would've become anaerospace engineer, it's too
niche.
And every time she was applyingfor mechanical engineering jobs,
the hiring agents would be like,Well, you have an aerospace
engineer.
What does that have to do withmechanical?
And it's like, well, it's asuper cool version of
mechanical.
But you'd always have that, haveto have that conversation.
And sometimes they'll just throwyour, uh, resume out because
(13:02):
it's like, Oh, you're not amechanical, you're, you're a
aerospace.
Get outta here.
So, for me that, so I joined thearmy, got my education paid for.
And then, but the, but thenumber one thing that the Army
taught me is I never wanna havea boss again.
So if I had to go on a limb andsay what the Army taught me,
it's like, I don't like bosses.
And I, your worst boss in theworld is nothing compared to
(13:26):
having the worst boss in themilitary.
It's just, it's just hands down.
You cannot imagine the horrid,horrid things that can, that can
happen to you.
raymundo-investment-city (13:33):
Yeah.
Was it like, um, was it likethat movie, uh, what is it
called?
Full Metal?
Is
Track 2 (13:38):
full metal jacket, that wasn't that bad.
I like that.
But no, the problem is, is ifyou piss off the wrong guy, that
can make your life held theentire time you're there.
And it's one of those things.
So, so my brother, he was aMarine and I was in the army,
and like I said, he's too smartfor his own good.
I'm too smart for my own good.
And that's not good for a lotof, lot of, So for a lot of
(13:59):
being an employee, being toosmart for your own goods is not
good for you.
raymundo-investment-city (14:03):
Can't, you can't be smarter than the
master.
That's the rule.
Like you can't,
Track 2 (14:06):
dare you.
How dare, Actually there's,there's, there's actually a,
there's actually a quote forthat.
It's like, don't outs, shine themaster.
Yeah, yeah.
I live in that world.
I'm like, Nope, nope.
I'm an idiot.
That's why, That's why I'm,that, that's why I'm, It takes
me two hours to convince you I'mnot an idiot.
Then in general, I'm an real,
raymundo-investment-city (14:30):
it's better to play like that cuz
then, you know, you, I I, that'slike a technique.
I guess you get to see peopletrue colors and you kind of, you
can maneuver in that space ofthem thinking that you don't
know better.
Track 2 (14:42):
Oh, it's the best.
It's
raymundo-investment-city (14:44):
the best.
Track 2 (14:44):
I actually drive a Prius.
I drive a Prius as well, andit's the funniest thing cuz I,
I'm a hardcore.
I'm a hardcore son of a bitch,right?
So it's the funniest thing cuz Idrive this Prius and I go like
150 miles an hour in this thing,but the police think I'm a
soccer mom, so they never pullme over.
So I've been going 120 andthey're, and they're just
sitting there going like, andit's funny, all my buddies talk
(15:06):
shit cuz they're like, Dude, youdrive a Prius.
Uh, that's, that's so, uh,terrible.
And I'm sitting here going like,Dude, I've, I've owned this bank
for five years, never beenpulled over.
I go 120 everywhere I go andthey're just like, Oh man, that
soccer mom must have anemergency.
And I'm sitting here going like,Yeah, yeah, do my emergency is I
gotta be places quicker thaneveryone else.
(15:27):
And like it.
So it's just so funny cuz cuzwhen I was, when I was a
property manager, cuz I, notonly was I a landlord, I was
actually a property manager andI used to run a property
management company for severalyears.
And I used to do really toughneighborhoods.
Like my entire business modelwas, I would help you buy rent
and then sell the toughestneighborhoods in your city, more
(15:47):
or less.
And that's pretty much my, wasmy business model for several
years.
And it's so funny when you like,so I used to own this one car, I
called it the slum War.
And it was this 2008 MazdaSport, right?
So I beat this thing to hell,like it got backed into in
parking lots and shit, and ithad like all the sun spots and
(16:08):
everything, but it was like theperfect car for what I was
doing.
Cuz like I would leave thisplace in some not so nice places
and it was never broken into.
Cuz everyone's like either ACrackhead owns that and he ain't
got nothing.
Or B, like that person isviolent.
I'm not breaking into thatthing.
And I'm like, Yes, that's got,I'm, we've established this car
is not owned by a good person.
(16:29):
Let's not break into it.
So, but it was
raymundo-investment-city (16:31):
way hold.
Track 2 (16:32):
Mm
raymundo-investment-city (16:33):
I read that in a book that, uh, The
Millionaire.
He was saying that not to, notnothing against those
neighborhoods, but he, everytime he went in his nice car
always got scratched, keyed.
So he said he learned, you know,just bring the Honda cord and
nobody would mess with it.
So that's crazy.
But, before you, um, get intothat, I don't want, I don't
wanna get lost.
Fire,
Track 2 (16:52):
Oh
raymundo-investment-city (16:52):
is hot.
Fire is hot.
How do you help people retireearly?
Like, I know people wanna befinancially independent, but
retiring early.
That's, that's two in one,right?
Track 2 (17:02):
Well it's called the Three Pillars of Wealth.
I know all three because I'vebought, and I've bought and
invested in all of them.
And like I said, it took me adecade to get into all these
little niches.
And like as one of my friendssays, uh, the niches are in the
or, the riches are in theniches.
And if you can niche yourselfinto something, you either make
a ton of money.
Cuz the reality is people don'tgo, they usually don't get that
(17:25):
hyper focused into niches.
But once you get that niche,it's.
You know, like, so most of myclients are now
multi-millionaires.
So me, so the last 10 years Imade myself a multi-millionaire.
I made, uh, most of my clientsmulti-millionaires.
And it was all through realestate, which are the three
pillars of wealth, real estate,paper, and, uh, businesses.
(17:47):
So with real estate, realestate, that's gonna be your
Airbnbs, your, um, your longterm rentals, your wholesaling
fixing flips.
Uh, I'm not a huge fan of fixingflips.
I think it's too much risk.
but everyone loves fixing flips.
It's like, it's in the, it'svogue.
But I don't think fixing andflips make you rich.
I just think it's a vehicle tomake money to then buy actual
(18:09):
wealth, which is apartmentbuildings, um, rentals, Airbnb.
Cause, cause what, what peopledon't realize is cash flow is
king.
I don't care if you have amillion dollars in your bank
account.
Well, congratulations.
You can live for 10 years beforeyou go broke.
Congratulations.
But if you own, if you own like20 rental properties, that's
forever.
You know, like I collect myrent, like I own like 20, 30
(18:32):
properties myself.
Right.
And I landlord'em all.
I, I've replaced my income, likemy regular income's now been
replaced with, uh, you know,mailbox money.
I get my, uh, my cash flow formy rentals.
I got some notes.
Um, I actually own, uh, abusiness overseas.
Uh, I don't wanna get too farinto that one.
raymundo-investment-city (18:51):
You hustling, man.
You a hustler.
Track 2 (18:54):
Well, the thing, the reality is, is don't steal money
from Luke.
That should be simple.
I'm not a nice person and I, Inever present to anybody that
I'm a nice person.
And then one of my businesspartners stole my money.
So me and my attorney, we shookhim down and all he had was, uh,
he had, he had a bunch of landin Costa Rica.
And when I shook him down, I'mlike, Yeah, I'll take that.
(19:14):
Give me that and I won't sue youinto the ground.
And I won't go after you forcriminal charges and fraud.
The next thing know I ownsomething overseas.
But that, that's just how itworks.
You know?
You gotta be aggressive, butthen you also have to be like,
so I'm a really nice guy ingeneral.
Like, I'm a really good guyunless you owe me money or you,
and you steal money.
Like, you know what I mean?
It's like, it's reallyfundamentals.
(19:35):
Like, so, but like I
raymundo-investment-city (19:36):
all have our standards and our
morals and our codes, man, andwe can't let nobody
Track 2 (19:41):
a very, I'm a codified person.
I'm very heavy on codes cuz I'msitting here going like, Well
dude, I don't steal money andeveryone gets paid.
That's literally, that's likeeveryone gets paid.
don't screw over loop.
That's literally my only, that'sonly two philosophies.
I love paying people cuz if we,if I, if I get you paid, it
means we made money that I canpay you with, if you know what I
mean.
Like, like that's how it
raymundo-investment-city (20:02):
then, and then together, you could buy
businesses.
Like right now, my, my idealplan is like, get, get rich.
No.
Get wealthy.
Get my friends wealthy.
As many as I can get wealthy.
I wanna buy an island.
Man.
We could do whatever the fuck wewant over there.
You know what I mean?
Get drunk, get high, whatever,you know, have fun and live by
Track 2 (20:22):
there's some islands.
They're not even that expensivelike my wife is one of those
crazy people feel like Google,like how much is an island?
And then she like, I thinkthere's like some for like a
few, only like a few milliondollars.
And I'm like, sweet.
I mean, there's nothing on it.
But,
raymundo-investment-city (20:36):
Hey, you could build it, you could
build it in with, with, uh, withTom, in this market, which type
of real estate is like the bestto get into right now?
Track 2 (20:45):
ah, that's the, that's the toughest question cause
Well, most of the real estatein, in America is overpriced.
and the problem we're runninginto is all the prices are too
high, but now the interest ratesare too high.
So the problem is, is you'reoverpaying with no longer cheap
money.
So the reason the prices jumpedwas because there was so much
(21:05):
cheap money.
The fed dropped interest ratesto like zero, near zero, and
next thing you know, everyonejust shot up.
They're like, everyone juststarted buying everything.
Cuz it's like, like, it was likethe reverse of the bank run.
It was like, Oh wow, there's somuch cheap money.
Let's, we gotta just run outinto the street and buy
everything.
So the hedge funds and all thesesuper rich people, they bought
up all the real estate and thennow they drove up all the
(21:28):
prices.
And the problem we're having nowis that the interest rates are
skyrocketing because ofinflation.
So now, now I don't know what'sgonna happen, but now because
the, the, but now we have ouraffordability issues with
purchasing anything.
So.
Reality is, is right now isprobably a terrible time to buy
real estate in America.
but I mean, it's not to say youcan't buy real estate, it's just
(21:51):
the deals are much harder tofind and you're really gonna
have to hustle the, hustle, themargins on these, cuz I mean,
cuz right now I'm, I'm, I'minvesting in like Miss
Milwaukee, Wisconsin becauseit's some of the cheapest real
estate in America.
Right.
And weirdly enough, uh, what,what's weird, what's weird
though is Milwaukee actuallyhad, is having one of the best
(22:14):
years it's ever had withunemployment.
Like it's set the lowestunemployment.
It's been in years.
So it's like, but like it'sfunny though cuz everyone's
like, What the hell is inMilwaukee?
I'm like, well then employment'slow and the real estate's cheap.
I mean, that's all I need, youknow, It's like, well what
about,
raymundo-investment-city (22:31):
so you're saying that the bucks are
in Milwaukee right now?
Track 2 (22:34):
Yeah, literally the fucks in Milwaukee.
Yeah, man, I, man, I like puns.
I like you Ray.
I like you Ramondo.
I like puns.
That's a good one.
That's very punty of you.
raymundo-investment-city (22:52):
you know how much I've been dying,
not to say Luke did.
Track 2 (22:57):
Oh, dude, you know what's funny?
Did you know everyone's myfather?
Literally everyone, Five yearold girls are my father.
Who fricking 16 year old kidsare my father.
90 year old men are my father.
You know, it's bullshit.
All these sons of bitches shouldbe paying my child support.
God, Damnit, where were you dad?
You pieces of shit you need topay for Luke.
(23:18):
What about me?
And it's so funny, every timesomeone says that to me, I make
it super awkward, you know?
I'm like, Oh dude, where?
Where were you for me, Ramono?
Where were you for me?
Why didn't you take care of me?
You know how many times I wish Ihad a father figure in my.
Screw you, dad.
And then they'll, and then itgets so awkward, so quickly and
then they don't anymore.
(23:39):
It's really, it's quite, Yeah.
But I got a million stories,man.
raymundo-investment-city (23:41):
So I wanted to ask you what, like
your comp, like your company,you make millionaires, what
makes you stand?
Like, what makes you differentin the rest?
Like why should people work withyou?
Track 2 (23:50):
Oh, it's cuz really, I, I had found another person who
helps people do what I do.
So I, I let, I help people househack.
Right.
You know what?
House hacking?
raymundo-investment-city (23:59):
I would love to, I would love to
though
Track 2 (24:01):
Okay, so house hacking is so fourplexes.
So four unit apartment buildingsare considered residential.
So you can use regular FHA loansand conventional loans with
three and a half to 5% down, andyou can buy a four unit
apartment building and you canlive in one of the units and you
can rent out the other three andyou can actually pay your
mortgage off and also pocketmoney, right?
(24:25):
So I help, I train people how tobe livid like, and like for me,
it's funny.
So when I started, when I firststarted, one of the second
houses I ever bought was a fourbedroom house.
And I actually rented out theother three rooms in my house,
so I was the live-in landlord.
So I, I've evicted my ownroommates before, like, if that
gives you how much of a son of abitch I am, I will literally, I,
(24:45):
I literally serve that song,bitch.
I'm like, Here's your evictionnotice while he's, he's like
eating breakfast with thecereal.
I know you, I know you knowwhere I fucking sleep,
motherfucker.
But that's fine.
Just remember I got, I gotbrothers who just as mean as I
am, and then they're just like,Oh, oh, Luke.
It's like I've evicted my ownroommates.
I don't care.
(25:05):
Like, come on bro.
We all gotta die sometime.
raymundo-investment-city (25:09):
Now, now, now I know the, the house
hack, um, when you said it,Instagram, all the posts I saw,
they, uh, like a lot ofinvestors post that house hack,
they post memes about it.
know, like, like of coursesocial media makes everything
seem simple, but I know there'ssome work behind it, but I know
it's shit.
I know it'd be beneficial if youreally, uh, get into it.
Track 2 (25:31):
Yeah.
Well, well basically the way itworks is, um, I have a very
simple philosophy.
You don't have to tell them thatyou're the landlord and you're
just another tenant.
And if you talk to yourneighbors, which I highly don't
advise, I don't talk to yourneighbors.
And cuz what I used to do is Iwould actually hire a pro, like
I have a real estate license.
I could technically rent my nextdoor neighbor, I could rent that
(25:52):
unit, but I don't want them toknow I'm the next door neighbor.
Right.
I don't want them to know I'mthe owner.
Right.
So I will literally, I will gooutta my way to be like, Okay, I
will hire a property, I willhire someone else to, to fill
those units.
Cause I just don't want, I justdon't wanna exist.
Because otherwise at three inthe morning you get in phone,
you'll get knocks on your doorat three in the morning being
like, Hey look, my airconditioner doesn't work.
(26:12):
I'm like, I'm like, That's nothow any of this works.
Um, I don't want you knocking onmy door at three in the morning.
So, yeah,
raymundo-investment-city (26:20):
And they And they would do that.
They would do that
Track 2 (26:23):
And they will, they love that shit.
Like how, Well, I've actuallyevicted my own neighbors.
Like I've evicted my roommates,I've evicted my neighbors
before.
And like, it's funny cuz they'relike, Aren't you the landlord?
I'm like, No, I walk away.
Don't talk to them cuz they oweyou money.
So anyway, so there, there's awhole, like you can hire if you
don't wanna do it yourself, youcan hire people like me, you
(26:44):
know, property manager types.
Um, but yeah, I used to, So I'vedone both where you basically
buy a house.
Um, so when you do house hackingfor houses, right, what you
wanna do is you wanna have atleast, so you gotta remember.
If you have a group of more thantwo people, there's politics,
right?
Immediately there's politics.
So if you have a house of four,obviously you are on your side,
(27:06):
right?
You have to rent to one of yourbuddies always.
Because then the, because if youget two randos, the randos
aren't gonna band togetheragainst you and your buddy.
And usually you convince one ofthem that you are cooler than
that one.
Right?
But if you rent the free randos,you gotta be careful cuz if you
rent the three randos, thosethree randos could ban against
(27:27):
you as the landlord.
Cuz you know how that works.
It's like the landlord's abastard, let's, let's, let's
overthrow'em.
So you gotta be real carefulwith how, with like being a
living landlord, cuz I've had afew spots with my roommates and
they know you're the landlord.
So it's like, it's not so it's,it's not like, oh hey, you know,
I'm your roommate and there'sanother guy that does that wants
his money.
(27:47):
It's, Oh, no, Luke wants hismoney.
This is personal and you gottabe real careful with that.
So you gotta make sure.
So I, what I would always do isI would rent to minimum one of
my buddies and then you'd alwaysrent to ran.
You can get randos.
You can get randos.
Just make sure you do yourbackground checks, credit
checks.
And like I said, you live there,so you gotta make sure you like
(28:08):
each other, you know what Imean?
It's not, there's, there'smaking money, but there's also
getting stabbed.
Like, don't do that So,
raymundo-investment-city (28:17):
get stabbed.
Man.
This ain't, this ain't uh, thisain't Halloween.
Michael.
Michael ain't here.
Track 2 (28:23):
one of my tenant, he just went back to prison like I
was making that stab joke.
And he's like, Oh yeah, it doessuck.
I got stabbed 37 times.
I'm like that damn man.
raymundo-investment-city (28:33):
gotta be careful who you joke
Track 2 (28:35):
Oh yeah, dude.
No, no.
He thought it was funny.
Well, I'm pretty hardcore, soit's like my bullshit with these
guys cuz a lot of my tenants,they went to prison, right?
Cause prison, uh, ex-cons arelike one of the best tenants
ever because, um, no one elsewill rent to'em.
But they usually have good jobsand they usually like
construction.
They got good jobs, but no onewill give'em that chance.
(28:57):
And like I said, once you give,once you rent to them, they
always pay rent.
Actually, if, if your rentalsystem breaks down, they'll
literally call you and be like,Hey man, I got the rent.
Can I, can I, can I come meetyou right now?
I got it right now, I got it incash.
Where are you Luke?
I'm like, How God, uh, I'll justget the system up and running.
I don't, I don't need you to,No, quit calling me off.
I I'm not gonna, I'm not
raymundo-investment-city (29:18):
what's up.
That's what's
Track 2 (29:19):
it.
You guys got your, I got mymoney.
I'm taking care of it.
And then you sit there for liketwo hours trying to make it,
make the online system run backup.
But anyway, but like
raymundo-investment-city (29:28):
good though.
You get, you're giving peoplechances, so you know, we need
more people like that.
Track 2 (29:32):
weird being in this, in this, in this, in this niche cuz
like nobody likes you becauseeveryone just thinks you're a
slum ward.
But then, so I guess it dependson which, if you're on the
outside looking in, it lookslike I'm a slum ward taking
advantage of poor people.
But on the inside I'm a guywho's giving second chances.
The people no one else does.
So it's this really, it's areally weird niche cuz like,
(29:54):
like I said, from the outside,nobody likes me.
But then on the inside, oh, likethe people who do like you, like
you until they don't pay yourent and then they don't like
you.
So it's a very, It's actuallyfunny.
Landlording is one of thosethankless jobs.
Like no one likes theirlandlord.
Like, can you think of a singlenice thing to say about a
landlord in Exactly.
(30:20):
No one, no one's like hell.
I tell people, they're like,How'd you make all your money?
I'm like, Land.
And they're like, Wow, you mustbe a bad person or something.
I'm like, Sure.
The equity.
More Mundo after this commercialbreak.
Was good.
Yeah.
I'm proud and happy to announcethat.
All three Patrion tears is up.
(30:41):
Each with its own.
Per can benefit.
You want more moon?
No, you get more mono.
virtual version.
I tried to be a little bitreserved.
You know, on the regularplatforms.
But each.
T it puts you more in depth.
With who I am and where I'm atto go.
So.
Sign up to the show.
Go to www.patrion.com.
(31:01):
A forward slash the Raimundoshow.
Sign up is pretty easy.
yeah.
And I'll see you there don'tjust meet me there.
Greet me So Snoop dog But anywayback to the show
raymundo-investment-city (31:14):
You gotta have thick skin and be
that man.
But, um, I wanted to ask youabout the, the Airbnbs.
Like, well, I just got, I justsaw a report that they cracking
down about it in Atlanta.
Uh, what are the pros and consto getting into that?
Cause I see so many people doingthat shit.
They make it seem like it iseasy money.
But I know, uh, the challenge,
Track 2 (31:34):
Well, nothing in nothing in life is easy.
If that, if that, if, if, if, ifyou take anything from me.
Nothing in life is easy.
Everything's ugly.
Everything's dirty.
Like you, like you just, youlike you're trying to do the
right things, but the rightthings are actually wrong.
In some circumstances, it's,it's, everything's gray and
everything's ugly.
But I mean, as long as youunderstand the nuance of ugly,
(31:57):
you'll do fine.
But anyway, Airbnbs, so they, Ihave a love hate relationship
with Airbnbs.
I think they're awful becausethey, they destroy the local
culture in a lot of state or alot of cities, right?
cuz you'll have, what'll happenis, is you got these rich people
who buy out all these middleincome properties that should go
(32:20):
to locals and then they convert'em to rentals.
So they're, they're like, so Ithink it's gross because it's
like you're destroying theculture of a city to make a
quick buck.
But on the other hand, I mean,it's gonna happen anyway.
I can't
raymundo-investment-city (32:35):
As well.
Track 2 (32:36):
so I'm, I make money off it.
So it's one of those, it's oneof those.
But then again, sending me andLandlording, it's like someone's
gotta be, someone's gotta buythese properties.
Nobody wants to rent to thesepeople, nobody wants to rent to,
you know what I mean?
So, I don't like Airbnbs ingeneral, but Airbnbs, they're
not easy, but as long as you buythe right house for the right
price, they make really goodmoney.
(32:57):
And I have a very simpleformula, at least 10 days,
right?
So 10 days of rental income froma Airbnb should cover your
mortgage, right?
So 10 days of a rental shouldcover your mortgage and then you
should be fine.
Obviously, I'm not giving anyreal, this is my, one of my
(33:17):
disclosures.
I'm not giving you real estateadvice.
These are the formulas that Iuse their opinions and they work
for me.
However, they might not work foryou.
Please don't, Please don't takethis and go lose all your money.
Cause I just disclosed not myproblem anyway.
So I, I think, but, but like Isaid, I got this really nice
place out in New Mexico.
We bought it for$150,000.
(33:38):
Right?
And it's a really weirdlocation.
I actually call, I call itcottage core New Mexico cuz it's
like somebody built a cabin.
On an acre lot in the middle offricking nowhere.
And we bought it for like$150,000.
And the thing is super weird.
Like it's a super weirdproperty.
It's probably like a half amillion dollar property.
Like they put a ton of money inthis thing, but because they
(34:00):
build it in such a weird spotthat they, they, they just can't
sell it for any amount of money.
But I bought the thing, ourmortgage is only like 800 bucks,
right?
But then the thing cash flow islike 3,500 a month.
And the thing, it's ridiculous.
But that's, that's, I mean,that's not par for, that's not
normal.
That's just stuff that I dothat's like, cuz I've been doing
(34:21):
this so long.
So I've just like, so stuff popsup and I say, Oh, that's a nice
one.
Boom.
And then I buy it and I do it.
So and then if you have, if youthink that the government's
gonna crack down on your Airbnb,what you should do is you should
lease the properties, then youcan actually get out of'em with
no harm, no foul.
Okay.
raymundo-investment-city (34:40):
Nice.
Track 2 (34:41):
So if you're like in Atlanta and you think that the
government's gonna change thelaw and they're gonna crack down
on you, lease the property.
Just convince a landlord, Hey,I'm gonna run an Airbnb business
outta your house.
Here's the contracts sign done.
Then if in hell, you could evenmake the deal month to month.
So the moment the city cracksdown on you, you just say, Oh,
(35:02):
third day notice you take yourmoney and you leave because you
don't own the house.
You have no affiliation to thehouse.
You collect your money and youget out.
So I, I tell people a lot ofthat when they buy in HOAs,
cause a lot of HOAs are changingtheir bylaws to get rid of short
term rentals.
However, if you're leasing, youcan just walk away.
Like there's no lawsuits.
(35:23):
I don't have to go to the HOAboards, I don't have to fight
people in the street.
I just say, Okay, here's my 30day notice.
I made my money and I, and Iwalk away.
And that's like one of thosereally crazy strategies.
People are just like, Oh, That'sWow.
I guess I could just do that.
I'm like, yeah, like why?
Why buy a half million dollarhouse and then find out it's a
really bad Airbnb, You know whatI mean?
(35:45):
I'd rather rent a house that's ahalf million dollars, find out
it's a bad Airbnb, and then just30 day notice by way out and
leave.
You know what I mean?
raymundo-investment-city (35:53):
I mean, that's good.
That's good information,especially that just coming up
now, you know, a lot of peopleare gonna benefit from that, so
can't wait to post that.
I might post, I might post thatpart before the video, before
the actual episode.
Track 2 (36:05):
Well, what I mean, cause everyone's like, Oh, we
gotta buy and we gotta havelawsuits.
And I'm like, No, dude, justrent the thing and like rent.
And if it makes a lot of moneyand like hell, if it rents a, it
makes a lot of money then, youknow for a fact you can buy a
property in that neighborhoodand you already know it makes a
lot of money.
Like, I just don't understandwhy someone would buy a million
dollar property for the hopesthat it'll make a lot of money
(36:26):
in Airbnb.
It's just.
Well just rent the thing and seeif it works, you know?
Cause your mortgage is just, isvery similar to the rent anyway.
So like, it, what's it matter?
But whatever.
raymundo-investment-city (36:36):
That's true.
so I want you to let mylisteners know, like, why, why
is it important to have like afinancial plan?
like, I feel like you justcan't, something like this when
it comes to retiring early andbeing financially independent,
you can't leave it to chance.
Like you need to organize, go toplan.
Coming from an investor, Ithink, uh, you know, letting
them know why they should have afinancial plan,
Track 2 (36:57):
Here's, here's what I'm gonna tell you.
I grew up in a trailer and Iachieved fire in 10 years.
Okay?
If I can do it, I mean, I mightbe smarter than the average
bear.
But,
raymundo-investment-city (37:09):
uh,
Track 2 (37:10):
I like, like, like I'm.
I'm not the brightest bulb, I'mjust slightly like, I'm smarter
than the average bear, likepicnic baskets and everything.
But like at the end of the day,I'm not Exactly, I'm not, I'm
not a genius.
It's not like, you know what Imean?
I just, I'm just willing to dowhat it takes to make money.
Right?
Cause most people, they won't,they won't buy a four bedroom
(37:32):
house and rent the other threerooms to make money.
You know what I mean?
Like, for example, my mortgagewas like, you know, X dollars.
And then a lot of people don'trealize is the, the, the biggest
suck on your income is rent.
You have to eliminate rent soyou can eliminate rent.
Imagine how much extra money youhave a month that you have to
(37:55):
play with.
raymundo-investment-city (37:56):
And you can use that money to invest
even more.
Track 2 (37:59):
Exactly.
Or you could, I mean, or youcould just have extra money to
live better.
Cuz then you can negotiatebetter salary because you have
have income.
I'll give you an example what ofmy clients, he's the security
guard.
Okay.
He owns two four plexes in twodifferent states.
So he owns eight rental units,two apartment buildings.
Okay.
He is a security guard with ahundred thousand dollars in
(38:21):
student loan debt and he has twobuildings and he semi-retired
be, and he, he literally quitshis job like every two years.
If his boss pissed him off, he'slike, he's like, he's really
like, you know, I don't have towork here.
I got two buildings, asshole.
I don't have to work here.
He literally quits his job like,it's like clockwork every two
years.
He's like, and it's funny cuzhe'll talk mad shit cuz he is
(38:43):
like, cuz his boss is like, Hey,can you do these?
And if normally people likeworking class people, they have
to do it cuz they're livingpaycheck to paycheck.
So it's like they gotta, theygotta do these things they don't
wanna do.
raymundo-investment-city (38:54):
Yeah, you don't have to.
Track 2 (38:56):
but he doesn't have to.
He literally, because he has theextra money and it's not, he's
not rich.
Mind you.
He's not rich.
Okay.
It's just we did the rightthings.
To replace his income.
Like even, it's not like, it'snot even like he makes a million
dollars a year.
It's the sheer fact that he has,like, he can quit his job and be
unemployed for two months andit, it doesn't cripple him
(39:19):
financially, you know what Imean?
Like, he can look for a job thathe wants to do, not, I have to
take the first job that I takebecause that's, that's, that's
all I, because I need, like, Igotta pay rent.
Therefore, you're willing totake lower wages just because
you need to pay rent.
But for him, he doesn't have to.
(39:39):
He, he, he literally, he livesin his unit.
He lives rent free because hisother tenants pay him, pay him
his mortgage and he actually,makes his pockets like an extra
grand or so.
And then he just bought, Andthen the thing was we cash out
Refied his house, his fourplex,we cash out, Refied it, we
pulled 200 K out.
And with that 200 k we boughtanother fourplex.
So now he owns eight units andlike I said, he's just, he's a
(40:02):
freaking security card and hemakes like 20 bucks an hour and
he owns two fricking buildings.
Okay.
It's just like, it's not, noneof these things are impossible
to do.
It's just they suck cuzobviously that fourplex isn't a
nice neighborhood.
Right.
And, and he had, he had to livein the hoarder property.
It's so funny, he lived in thehoarder property and he hates
(40:22):
roaches cuz the place had likeroaches.
It took us like six months toget the roaches out.
but now we got, we finally gotthe roaches out and I mean, he
doesn't live in a niceneighborhood, but, you know, he
had, he now can do the things hewants to do and like I said, he
can quit his job and he doesn't,he's not, he's not, he's not
jones in for money every 10minutes.
And that's the thing, it's, it'sbeing able to have the, that
(40:44):
cushion and to have that cashflow that eliminates those daily
bills that forces you to makepoor financial decisions.
Cuz people will make thesedecisions.
Cuz it's like, Oh, hey, I havean emergency.
I need a job now.
And then you're just basicallygoing from job to job and like,
there's no arrest.
You know, There's no rest forthe weary.
And that's the problem with alot of people is they're too
(41:05):
busy, they're too busy hustlingand running and running and
gunning and it's just like, Ohman, you get, you can't do that.
You gotta,
raymundo-investment-city (41:12):
You need, you need like real energy
to pull through.
I, I read a lot, so I don'trealize like to have that
willpower, to have that, thatpush when you feel like you've
been knocked down too much, yourenergy, your rest makes a
difference.
I want to ask you, what does ittake to work with you?
Like what's the, is that incomerequirement?
Like how does that,
Track 2 (41:33):
um,
raymundo-investment-city (41:34):
got me, you got me interested.
Track 2 (41:36):
Here's how my system works.
Um, uh, if you can't afford me,Then I have classes, so I have a
whole classroom system you couldpay for the classes.
It's pretty much everything Iteach.
It's just you don't get anypersonal touch.
but if you could afford me, andI'm not cheap, obviously, it's
just the law of, of, it's justthe law of business.
(41:57):
If you don't have enough moneyto make money, then you don't
have enough money to make money.
So it's like, and I can't, Ican't help you.
You know what I mean?
Like, I have some people thatare like, I make, I make$12 an
hour and I'm like a hundredthousand dollars in debt.
And it's just like, it's justlike, well, you need to get a
better job.
And you ha like, there's just somuch legwork to get, cuz I call,
(42:19):
actually I do a poverty class, apoverty trap class.
And what people don't realize isyou have to make a certain
amount of money to escapepoverty.
So in the way the poverty systemworks, so like Dollar Generals,
Dollar Generals are a povertytrap business.
Cause they make you pay for apound.
They make you almost pay triplefor a pound to sugar.
Then if you got it from like anactual grocery store.
(42:40):
So you got your Dollar Generals,they, or make you, they make you
overpay for sugar.
Um, you got your, what else isit?
The gas stations, they make youoverpay for cigarettes and
booze.
Like you got all these.
And then the thing is, it's likeif you have children childcare,
that's like another one of thosethings.
It's like, it's like, so youactually have to make a certain
income to escape the povertytrap.
(43:02):
And like I said, the the, the ethe only way really to get out
of the poverty trap is toeliminate that rent.
I'm against buying houses withmortgages unless you're gonna
rent the rooms.
Right.
Cause otherwise you're justreplacing rent with mortgages.
And it's just like, it's justlike you have to eliminate, you
have to have, you have to be onthe cusp of escaping the poverty
trap for me to work with you,because otherwise I can't help
(43:25):
you.
Right.
There's just too much, there'sjust too much going on and going
wrong that you, you, you, Ican't help you escape.
Like I can give you, I can, Ican put you on the right path,
but if you don't do the thingsthat you need to do, and, and,
and then I guess it's notentirely true, it, like I'll
work with some people if they'rewilling to do like the house
(43:46):
hacking, right?
I can help you buy a house andlive in it and do the fourplexes
and that kind of stuff.
But the problem with that is youstill need a down payment so
that you still need like 20, 30,$40,000 in the bank account.
So it's like, I mean, it, it'sjust there's a very bare minimum
required for finances.
Otherwise, you know, I can't, ifyou don't have the money to, you
(44:07):
know, escape the poverty
raymundo-investment-city (44:08):
not, you're not gonna be able to help
them anyway.
So it's like, you know, and, andtime is important.
You, time goes by quick,especially when you got a lot of
things going on.
So you don't wanna waste eachother's,
Track 2 (44:20):
to people.
Like I'm,
raymundo-investment-city (44:21):
you gotta be real.
Track 2 (44:22):
And it's funny too, cuz like, it's funny though cuz
they're like, you're kind ofmean.
I'm like, Oh no, I'm, I'm, I'm,I'm a realist, right?
Like, here, here's the deal,right?
If I, if you can't helpyourself, I can't help you.
And if you're in the povertytrap, I can't help you escape
the poverty trap without youdoing the things you need to do
to get outta the poverty trap.
And I, and I assure you, beingin the poverty trap, that's,
(44:43):
that's a terrible place to be.
Like, you gotta dig, you gottadig it.
It's like, I imagine it like,um, Like, you know, if I was a
rabbit and, um, the rabbit holecollapsed, right?
And that, that that rabbit'sgonna just dig his way out.
And it's just, you know, it'sjust fight tooth, the nail blood
and gut.
Ah, I don't want to die downhere.
That's the poverty trap.
(45:04):
And it just sucks because such alarge majority of America is in
the poverty trap.
And,
raymundo-investment-city (45:11):
you know, I mean, it's bigger.
I, I don't know.
I feel like it's set up thatway.
It's, it's, but that's anotherepisode.
Track 2 (45:17):
but that's why you need the financial planning.
Cause it's like, without the fi,like, see, I came from the
poverty trap.
I had nothing and I clawed myway out of the poverty trap.
And the thing is, is like,That's the people I like to work
with are the people that arelike, I make just enough money
to escape the poverty trap and Iwant out.
And it's like, Okay, good.
Well here's what you gotta do.
(45:37):
You gotta do X, you gotta do Y,and you gotta do Z.
And it's like, why don't wannado X, Y, and Z?
I'm like, Then here's the deal.
That's the only way out of here.
Like, you know what I mean?
It's like you gotta dig your wayout and this is the only way,
but why can't I just be the CEOof Starbucks?
I'm like, Cause there's alreadythat guy and you're not him.
Okay, congratulations.
(45:58):
I can, I could blow, I couldblow very fairy tales off your
ass and, and daydreams andunicorns and shit.
But I'm not going to, I'm gonnatell you this, how you make
money.
It's, it's long, it's arduous,it's ugly.
Like you're gonna have to evictpeople.
You're gonna have to, you'regonna have to evict your own
roommates.
You're gonna have to do someugly shit to escape the poverty
trap and like that.
(46:18):
That's literally, I have anentire class on just the poverty
trap.
And I mean, I mean, that's yourcash.
The loans guys, those are theguys like that's your unbanked,
that's your, your cash loans.
Like he's not gonna charge you$20 to cash your check and cash
the loan place.
It's like, dude,$20.
That's so expensive.
It's like,
raymundo-investment-city (46:37):
I see, I see what you're saying though.
But it's good that you keep itstraight up, man.
I don't know.
I always, even if I don't likeyou and you honest and keep it
straight up, I gotta respectyou.
That's, I feel like that's theonly thing that matters cuz
respect goes a long way.
Liking, liking.
I could not like you in, in, inthe second.
So, ah, damn.
What I wanna, so what I alwaysask this question, it's like my
signature Raymundo showquestion.
(46:59):
What role does fear play in yourlife?
Track 2 (47:01):
oh, fear.
raymundo-investment-city (47:02):
Yeah.
Track 2 (47:03):
Oh, I have no fear.
That's why I can do all thisshit.
I have one simple philosophy.
I'm gonna die.
It's probably.
Probably gonna be terrible,horrible death.
However, I'm gonna have so muchfun.
I'm gonna have so much fun on,on my way there that it doesn't
matter.
Cause I'm a story person.
I'm that guy.
I just sit there like, I'm theguy that's like holding my beer
(47:25):
while, while we do somethingstupid.
And I have a, I have like amillion stories just like that.
Like, I had this one guy, he wasbreaking into my house, okay?
He was going through thesecurity bars.
Like you're going, he'sliterally sitting there with
like a spoon, like digging intothe stucco, trying to get the
bolt out.
And I'm sitting here going,like, I had just sit there and
watch him for like at least twoor three minutes.
(47:45):
Like, watch this guy break intomy house.
I'm like, like, this is soawesome.
Digging out the, digging out thebolt of your security bar to
break into your vacant house,that, that might just so he can
do drugs in your closet.
That my friend, that that is,uh,
raymundo-investment-city (48:00):
Yo, you
Track 2 (48:01):
That's pure life, my friend.
raymundo-investment-city (48:03):
you must had, you must had a lot of
stories with cracks, man.
That But you gotta, you got aunique way of thinking, man.
I like the way you think.
Track 2 (48:11):
I'm happy for the second chances.
I provide people.
I'm happy for everybody.
However, it's such an harsh,ugly world that I inhabit.
You know what I mean?
It's such a harsh, ugly worldthat I have it, but I also want
success for others.
But I'm also, I also understand.
They might never beat the drugand they're gonna, they're gonna
steal my copper.
They might relapse.
(48:32):
You know, you, you gotta, it.
It's, this is one of, it's, it'ssad.
It's, it's a really sad thing inthe world that I have to
inhabit.
But anyway, that, that, so ifyou're gonna work with me,
that's why you need a financialplan because the only way out is
up.
You know what I mean?
That's why like one of myfavorites saying is, Hey, you
know, what's the best part aboutrock bottom?
raymundo-investment-city (48:52):
That, um, that you are on your back.
So when you look up, you get up.
So shit
Track 2 (48:57):
Well, the, the best part about rock bottom is
there's only one way left to go,my friend.
Yeah.
Yeah.
We can only go up and guesswhat?
I always like to think I'malways at rock bottom.
So therefore it, like, I, I justlike, Oh man, we gotta keep
going.
Cause I'm already at rock bottomand I just keep going and going
and going.
Anyway, so I, I've told peoplethat knife thing, and they
(49:18):
always get weird about it.
I'm like, No, no, no, you don'tunderstand.
Like, cause like I said, I dealwith, I used to deal with this
daily, I used to deal withoverdoses, shootings, stabbings.
Like, Oh man,
raymundo-investment-city (49:30):
it sound like my neighborhood
before gentrification, that shitwas a regular day for me.
Track 2 (49:34):
oh,
raymundo-investment-ci (49:35):
Gunshots every day, People pulling out
knives.
All types of wild shit growingup in the hood, man.
But, um, if everyone forgets allthe shit that we done spoke
about today, what's one thingyou want them to remember?
Track 2 (49:49):
oh.
Um, I'll start out with the wayI, with the way I came in, 50%
of the world will not like youand who cares?
Make, make all your money on theother 50%.
You know what I mean?
raymundo-investment-city (50:02):
Nice.
Track 2 (50:03):
you a perfect example.
My wife, my wife's sister, mysister-in-law absolutely hates
my guts.
Absolutely.
It's my guess.
She would not, she would notpiss on me if I was on fire.
Right?
But my wife,
raymundo-investment-city (50:15):
She don't like your ads.
Track 2 (50:16):
loves me.
My wife loves me to death.
She is the, she is the bestwoman in the world.
And guess what this comes toshow?
Even in the same family I havethe 50 50 ratio, it's like, oh
yeah, that like the half herfamily just hates my gut.
So the other half is like mywife and just loves me to death.
And it's just like, just, youknow, if I teach you anything,
(50:36):
it's, you gotta get over that.
Cause this goes back to thatfear thing.
See, cuz if you believe that 50%of people hate you, then you
don't have fear no more it'slike, you know, water on an OTs
back, my friend who cares?
It's like they're on the side ofpeople who hate your guts.
Cuz I've made so many peoplemoney, I've made millionaires,
I've done, And that's because,you know, we liked each other
(50:58):
and we meshed.
And it like, that's like thenumber one rule of sales.
If you can't, if you don't likesomeone, you probably can't work
with them.
But.
If I teach, if I, if you learnanything from me, that my friend
is the key is getting over thefact that 50% of of the world
just, just gonna hate your guts.
And that's
raymundo-investment-city (51:13):
Don't care about you.
and if someone wanted to workwith you or, get more content
from you.
Track 2 (51:19):
Here's what you can do, You can check me
out@ww.rhmreal.com.
That real is as in like realestate.
So rm real.com.
It's so for the military guysout there, it is Romeo Hotel
Mike.
Oscar Hotel.
Oh crap.
I think that's my wife.
Uh, speaking of which, Sobasically, um, just set, check
(51:42):
me out@rhmreel.com.
Uh, you can submit yourquestions or information, uh, to
my email.
Uh, once you get my phonenumber, what I usually have my
clients do, you can apply to,uh, be one of my clients and
I'll look everything over.
And as long as you meet, as longas you meet, um, my
requirements, so my biggestthing is getting people out of
(52:05):
the poverty trap.
Like I said, most of my clients,they were all poor or not, but
they weren't poor, but they werelike, they lived their day to
day lives, you know, the wayeverybody lives.
They the paycheck, the paycheck,you know.
But then we helped them buy arental property and then we
helped them do this and wehelped them do that.
And the thing is, like I said,it's not rocket science.
(52:25):
It's, it's just, you gotta dothe work and you just gotta get
over the risk.
Cuz I mean, all might blow up inyour face, but I mean, if you're
already a rock bottom who care
raymundo-investment-city (52:35):
But,
Track 2 (52:36):
cares?
So anyway, so check meout@rhmreel.com and uh, yeah, so
usually I have people applythrough my email and that's how
you can get a hold of me.
raymundo-investment-city (52:45):
and on that site, he got plans for
everything.
Even I saw a plan up there fordivorce.
So he's ready, he's ready forany time.
Track 2 (52:54):
I love, I love the horse is my favorite.
How do I hide my assets from thesignificant other?
That's the good confession.
I, that is the number onequestion.
How do I hide my assets from mysignificant other?
That my friend is a wonderfulquestion.
So,
raymundo-investment-city (53:09):
um, but um, yeah, I want to thank
you man.
It was fun.
This was fun.
Like, like we said, it would be.
you're a great guy, man.
I wish you the best ineverything.
But until next time,
Track 2 (53:20):
yeah.
Thanks, Ramono.
(54:21):
If you don't invest in yourselfto start investing.
You continue to work a job youhate.
If you don't fail to demonstratethe discipline, it takes to make
your life great.
Like the wall of China.
You'll be built to last.
Like a Ford truck.
And you won't get stuck in thepoverty trap.
You can escape like a RNB groupfrom the nineties.
Regardless how you make yourmoney.
(54:42):
Real estate is the way towealth.
Take care of your family bills.
And especially your health.
Social security don't guaranteestability.
So you do what you have to.
Now while you still have theability.
To put it together.
So no matter the weather, youdon't have to depend on a rainy
day fund.
Just having the know-how youeventually have entrepreneur and
investor in your profile.
(55:03):
You can't become anything.
If you don't take action.
Make sure you laugh a lot, butdon't allow your life to be a
comedy.
Or the story that starts withyes, so much potential.
But fail to do the things thatwere instrumental.
Just because you were off thehook.
But integrity can stay in thedark for too long.
But the weight that it holds isgold.
Yes, that's strong, but I wantto thank everybody for joining
(55:25):
me on this episode.
I want to Luke Thomas.
For dropping knowledge when itcomes to real estate investing.
And giving them some amazinggems that we can start trying to
use today or get ready for.
I think I should definitely lookinto it, especially if there's a
certain life you want to live.
When I haven't to worry aboutbills and.
Rant or anything.
(55:45):
Involving money.
So you can truly be your best.
You.
And I'll make decisions based onbread.
But if this is your first timejoining Or you will regular.
I love you.
I hope you have a great one tillnext time.
Peace, love Mundo out.
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