May 19, 2025 • 50 mins
Pastor Gohlstin sits down with his fraternity brother Duane Johnson — a former banker and mortgage professional — to explore why Black Americans own less land today than in 1910. They discuss the lasting impact of the Great Migration, redlining, the Great Depression, and the Great Recession, and offer insight on how the community can begin to reverse these trends. A powerful conversation on legacy, loss, and the path forward.
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Speaker 1 (00:03):
This is w O v U Studios.
Speaker 2 (00:07):
All shalom, this is black thought. Everything must change to inform,
to inspire, and to impact on w O v U
ninety five point nine f M. This is the Rabbi
along with the Black Unicorn, bringing you today's episode. And man,
we got a good one today. You got Judy, You
(00:27):
just don't know it, but you are blessed today because
you got two old dogs in the house.
Speaker 3 (00:33):
You got two omega men in the house.
Speaker 2 (00:36):
Alright, alright, yes, listen, Judy, how was your weekend?
Speaker 4 (00:43):
It was good, It was good. I poured into myself
a lot this weekend. I recognized that my spirit needed
me to and I've just been truckling along, man, truckling along.
Speaker 5 (00:56):
All right, that's a good thing.
Speaker 2 (00:58):
Well, Judy, we uh we uh you know, as you know,
on on Saturday, I will retire as pastor of Heritage
Community Baptist Church.
Speaker 5 (01:08):
Uh.
Speaker 2 (01:09):
And on Sunday we uh we shared with him our
farewell message.
Speaker 5 (01:14):
Uh. And it was it was it was a moment.
It was a moment.
Speaker 2 (01:19):
Uh and uh we had to pull the mask off
to so to speak, you know, and and speak. Uh.
We we were nice. And then my wife wanted to
do a little shopping. So we went out to uh
what is it that south for the South Park out
there in North Homestead, Great Northern Mall and uh and
(01:39):
then we stopped off a famous Daves and man, we
had the platter for two. They had fried chicken, it
had brisket of beef, it had shoulder, it had uh ribs,
it had corn, it had everything. Jos and had Joe
Joe's had beans that had corn on the cob.
Speaker 3 (02:03):
Oh. Man.
Speaker 2 (02:04):
We made a pig hall out of ourselves and then
we kicked it off with a little banana pudding, you know.
And so it was a wonderful day. Then we came
home and we kind of kicked our shoes off and
relaxed and enjoyed one another. And we've been going through
(02:27):
some spiritual awakenings here lately. And I got a message
from the Holy Spirit last night stating that about nine
o'clock this morning something was going to happen and that
was going to open some doors for me. And as
(02:48):
you know, I have this twenty five million dollars strategic
plan for the black community, and I was wondering how
some of it would be actuated. And then you know,
my wife and I have been faced with some challenges
and and so we you know. And man, I saw
this little black car kind of following me, and I
(03:09):
didn't kind of. I said, wait aitu it, I've made
some invasive, evasive moves, you know, to get rid of
this little black car, you know. And I got a
big black car. This little black car.
Speaker 3 (03:22):
Is following me. I should have just ran over with
the big black car, you know.
Speaker 2 (03:26):
But anyway, we got to a light, okay, and a
little black car pulled around and pulled beside me, and
it was my fraternity brother, Dwayne Johnson. And we talked,
you know, through the windows, and I told him why
I was headed. He said, I'll meet you there. So
we got out here in the parking lot, and he
(03:46):
told me what he was doing.
Speaker 4 (03:48):
Uh.
Speaker 3 (03:48):
And Dwayne was a bank has been a banker.
Speaker 2 (03:51):
And Dwayne told me what he was doing, and he said, man,
can I come on your show? I said, what are
you doing this afternoon? And so he said yes. And
so we have with us a good Omega man, all right,
(04:12):
the guys who belonged to the only real fraternity other
than the real Greek fraternity. I'll say it like that, okay,
the Greek letter fraternity. The real fraternity is Masonic and
they were they're biblical, all right, the real Greek letter fraternity,
the old megasci Fi Fraternity incorporated, all right. And he
(04:35):
he is a a brother that has truly immersed in
enthusiasm for our fraternity. And he's a community activist. He
really has the community at art. Dwyane, wyn't you introduce
our listening audience to.
Speaker 3 (04:52):
Yourself.
Speaker 5 (04:53):
You know who are you, where are you, where you're from?
Speaker 3 (04:56):
You know where'd you go to school?
Speaker 5 (04:57):
Et cetera, et cetera.
Speaker 6 (04:58):
First of all, I want to say thank you, brother
Ghostin for having me on and being in your company
is always great. I always learned a couple of things
that I can put in my tool belt from you.
I was truly a blessing seeing you this morning. For
some reason, I was getting pushed out of the house
this morning to make it to the office early. Now
(05:20):
I know why. So yeah to all of your listeners.
I'm Dwayne Johnson, born and bred in Cleveland, Ohio, and
I have a graduate degree from the benedict from Benedictine
University in Lysle, Illinois. Historically a commercial banker, I've held
(05:43):
quite a few positions within the commercial banks, actually second
generation banker as well, and so experience in banking over
twenty something close to thirty years. What I would say,
what I'm doing right now, There's always a shift that
(06:04):
comes in a man's life and always depends on how
you deal with that shift. Correct. Do you choose to
learn more and continue to grow or do you choose
not to?
Speaker 3 (06:14):
Yes, we know the.
Speaker 6 (06:16):
Consequences of both, but both require pain and hard work.
So I chose to leave banking because I believe that
in a lot of places where we are in a
commercial environment, we kind of forget about our dreams. It's
kind of like you get paid enough to forget about them, honest. Yes, So,
(06:41):
looking at the landscape of real estate across the nation
over the past couple of years, I would say probably
prior to the pandemic, with me being a well versed
banker myself, I bought my house in the bottom of
the market. I was able to sell it at the
top of the market in August September of last year,
(07:04):
and I realized that a lot of people don't know
how to do that, okay, or they don't understand it,
and they're buying houses every day, and why don't they
understand it? So I stepped into the mortgage industry and
I'm a loan officer right now, and anything that has
a mortgage, I can help you with it. So it's
(07:24):
crazy to hear you say that about this morning, brother Goldstein.
And it's a couple of things in a black community
that we have to realize that has happened to us.
It's not that we don't belong at the table. It's
not that we can't build these huge real estate portfolios,
and some of us have them, but it should be
more widespread in our community. And this is the reason why,
(07:48):
because right now we own ninety percent less land than
we did in the year nineteen ten. Okay, I'm gonna
let that stink in. Yeah, okay, But it's a couple
of reasons why. The Great Depression, the Great Recession, the
Great Migration, red lining. During the Great Depression, fifty nine
(08:11):
percent of black farm owners lost their land during that time,
landa had taken generations for him to even acquire since slavery.
We all hear about red lining, but black residents were
pushed into overcrowded, under resource urban areas generational wealth that
could have been built through home ownership was systematically blocked.
Speaker 3 (08:34):
So all of you.
Speaker 6 (08:35):
Youngsters and all of those that have youngsters in their
house whole, it's imperative for those youngsters to grow up
with a sense of ownership and a sense of owning
my home. And the reason being is because it is
the easiest way towards building generational wealth. And youngsters have
(08:55):
what we don't have. Brother ghosting, Yes, I'm lumping you.
I'm mp myth in your category.
Speaker 3 (09:01):
Yah right. Yeah, they got time.
Speaker 5 (09:04):
Yeah, you have much more than I do because I'm
eighty six.
Speaker 6 (09:06):
Right right, But they got time. Yeah, they have time,
so they can help they can help us make up
that difference.
Speaker 3 (09:11):
Joint.
Speaker 2 (09:12):
Dwayne, just can we back up just a moment? Sure, Okay,
because we have data that says when the Emancipation Proclamation
was signed January September twenty second, eighteen sixty two, African
Americans who were here as slaves right with slavery and
(09:33):
free labor, we represented one point two percent of the
growth national product of America.
Speaker 3 (09:39):
Today is.
Speaker 2 (09:42):
April twenty ninth, okay, twenty twenty five, we still only
represent one point two percent of the growth national product
of America. How do we get past that and become
landowner owners?
Speaker 6 (09:56):
Also, we got to learn the system right first. We
got to know where we came from, where we are
and where we want to go and why so black
homeowners were disportionunately targeted with subprime compedatory loans, even when
they qualify for better terms. That is something that occurred,
(10:20):
and it occurred out of not knowing, not doing the homework,
not doing the research, just blindly saying, oh, okay, I
can think that payment.
Speaker 5 (10:30):
Okay.
Speaker 6 (10:32):
So I've developed a home ownership workshop that actually takes
us through our history, takes us through the entire loan process,
lets the student know what is looked on as far
as their credit, what qualifications that they need, what are
(10:53):
the forces of credit. It explains all of those things,
even the loan process from the time that you make
an offer and what happens behind the scenes, so that
you understand, okay, so that you can make sure that
everything happens timely because you are signing a contract with
a contract date.
Speaker 5 (11:13):
Okay, you do you have a question?
Speaker 1 (11:16):
Oh good, no, but.
Speaker 4 (11:21):
Seriously, you know I'm thirty five, I'm literally in the
process of closing on the home.
Speaker 1 (11:25):
I wish I met you a few months ago. I
know I have.
Speaker 4 (11:28):
I'm like, I keep staring at you. Trobaly like, why
does you keep looking at me? I'm like, I know
I've seen him somewhere. But then I brought up your
LinkedIn and it made sense. The network, Yes, can we
talk about the network? That is what you've been doing
with the network. You mentioned your workshops. Is that a
part of the network or is that separate?
Speaker 6 (11:48):
Uh, It's all part of Dwayne Johnson LLC. Which is
I actually worked for a brokerage, Equity CMGH in Rocky River.
I can break it all down, and the equity CMG
is one of the largest minority on brokerages in the
state of Ohio. We deal with about eighty to ninety
different lenders. We can work well in the commercial spot
(12:11):
and the residential spot, and also with real estate investors
as well. Having all of those tools in my belt,
I soon realize that there's a lot of investors, there's
a lot of realtors. There's a lot of home buyers
that don't know all of the options that are out
(12:32):
there and how those products work and how they would
or not qualify for those products. So that's the ultimate
goal of Dwayne Johnson LLC. It's in form as many
people as possible the Network's vision for the network and
why I created it is so all those like minded
(12:53):
people can come together and we meet every fourth Tuesday
of every month. We just started in February. We've had
some decent turnouts, but I encourage and employ everyone to
keep coming and to keep the network continuously growing.
Speaker 4 (13:13):
Thank you, thank you. You mentioned learning the game. I
know I'm paraphrasing.
Speaker 1 (13:17):
You didn't say it.
Speaker 3 (13:17):
Like that, but.
Speaker 6 (13:20):
You can't just have the books. You gotta have a
game too.
Speaker 4 (13:22):
So for a person like myself who first time buyer,
had no idea, you know, parents renting, So I just
am kind of like in the beginning, not anymore, but
because I did educate myself, but before I was so confused.
I didn't understand the process, even what underwriting was and
(13:45):
why that was the toughest portion of closing and all
of these things. Is this something that you all, like
you went through what you are going through in the workshop.
But for someone like me who and maybe they can't
make the workshop, do they have a different option like
virtual or what should that person be doing to educate themselves,
(14:06):
what should they be researching and.
Speaker 6 (14:08):
How great Well, first, you can contact me Dwayne Johnson.
That's d u a n E. Johnson at Equity c
MG dot com. That is my email. I'm also on
LinkedIn Dwayne Johnson d U a n E. Johnson on LinkedIn.
(14:30):
I can be found on Facebook and Instagram as well. Uh,
for one on one questions and information. Right now, we're
rolling it out as a workshop. There is a sign
up sheet on my Facebook page with the QR code
if you're interested in the workshop, and I'll be announcing
(14:51):
those towards the end of this month, right around the
same time that the network happens, so right around for Tuesday.
Some other options and things that you may want to
do is if you currently have a banker, is to
ask them the questions and to interview any banker just
like they're interviewing you, right and building a relationship with
(15:14):
that banker. It kind of comes down to being able
to be comfortable with someone to have a real conversation
with versus me asking you questions and you're just telling
me answers.
Speaker 1 (15:29):
I'm sorry, go ahead.
Speaker 6 (15:34):
Because of our history, there is so many things on
both sides of the fence when a banker is having
a conversation with us, Right, because if I'm the client,
I may withhold information that could help my banker, right,
I may be tell him tell my banker something that
(15:54):
he should have known that could have helped me. But
we didn't have that type of relationship where we could
just share free amongst one another.
Speaker 4 (16:01):
And that's a testimony to how important it is to
have a relationship with the banker or a banker, have
a banker for your personal, banker for yourself, Like it's
best as well to know who is the branch manager
at the bank that you visit. I shout out to
Mss Murphy and the Phoebe Foundation. I didn't realize the
(16:22):
importance of knowing your bank and knowing your banker and
what that relationship could actually do for your account. Yeah,
it's things that you know the bank have that they
don't offer you until you build a relationship with them.
Speaker 2 (16:35):
And then it's good to have a good relationship with
the host of the show. We're gonna take a break
right now. Okay, you have been listening to Black Thought.
Everything was changed to inform, to inspire, and to impact
on WOVU ninety five point nine FM. All right, you're
back here with Black Thought. Everything was changed to inform,
to inspire and to impact with the Rabbi Black Unicorn
(16:59):
and the good old made the man Dwayne Johnson, who's
talking to us about ownership land ownership. Listen, people, I
want you to know that behind the scenes, definition of
a real American is to be a white Anglo Saxon
male twenty one years old Protestant with at least one
(17:23):
acre of land. And so you're not considered American unless
you are wealthy. You're not wealthy unless your own property.
And so we have to get into the property ownership gain.
I remember when some years ago, Dwayne, when I was
in college. To be they had kind of changed things up.
(17:46):
To be a wealthy person or well to do or
a stable person, you need to either have ten thousand
dollars in the bank or two thousand dollars signature. But
now they're going back too. To be wealthy, you have
you have to be a property owner, all right. Uh,
And it also gives you know, and so forth and
(18:10):
so on. And when you spending thousands of dollars in
some instances a month for rent it makes more sense
to be putting it into something that you will eventually own.
Speaker 6 (18:23):
Yeah, but brother Goldsting, people are always balk because of
interest rates being high, and no, I got to play
the closing costs and all of these things. You know,
check out. The real doggish answer is that rent is
one hundred percent and actual mortgage rates is around six
to seven percent, right, yeah?
Speaker 3 (18:43):
Simple? Is that? Yes? And that makes good sense.
Speaker 1 (18:46):
That high is seven high?
Speaker 6 (18:49):
Uh? Seven is not high in today's market and environment,
and those things are all relative. Yes, in our lifetime.
We've seen in my lifetime, I've seen him as low
as one percent, yes, yes, so, but I've also seen
him as high as nine and ten percent.
Speaker 2 (19:09):
Yes, okay, And so as as a brother Dwayne is saying,
you know your rent is one hundred percent, you get absolutely,
and you're paying somebody else's mortgage, correct and putting money
in their pocket.
Speaker 6 (19:24):
Correct, because they chose to buy the house and to
take out the mortgages, pay the closs and costs and
pass that cost on to you to you, and now
you're going to pay their house off. If you've been
in the house for twenty years, most likely you already have.
Speaker 2 (19:36):
Yes, all right, and so why not do it for yourself?
Speaker 3 (19:41):
It makes sense to.
Speaker 1 (19:42):
Agree, Yeah, okay, I agree.
Speaker 4 (19:44):
I was very upset with my dad let our home
go in the house I grew up in, go I said,
why we had an acre and lane? He said, I'm
not doing this yard by myself. Get a ride more
to be doing there?
Speaker 1 (20:00):
You know, I was off to the army. He was like, ah, yeah, nah,
I'm like, bro, just pay somebody to do it.
Speaker 4 (20:08):
We have a cousin who does landscaping, Like, can we
talk about that? Why that was UNI hitting her head
with a keyboard because it's frustrating. I don't understand because
my father is not the only one. There's a lot
of people in that age group who have completely just retired.
(20:28):
Feel like they did their jobs, feel like they did
what they were supposed to do. They raised the kids,
they got their pension, they got their retirement. They don't
want to do anything else. They're letting their homes go.
They barely want to be grandparents. I don't know what's
going on. To tell me something, what's going on?
Speaker 3 (20:46):
For one of the things I think we've talked about
this how we because like I'm still being willful.
Speaker 2 (20:52):
Irresponsible and skillful irresponsible Okay, skillful irresponsible to some degree.
No one has taught them how to be beyond this
point transition, yes, how to transition.
Speaker 4 (21:06):
For themselves, especially when they're of the worker generation.
Speaker 2 (21:09):
Right, so, skillfully they're irresponsible. But then there's the ones
who are willfully irresponsible because they give it up, because
they choose to give it up, because to hope to
be responsible beyond that point means that they have to give.
Speaker 5 (21:26):
Up being the victim, all right, And.
Speaker 2 (21:28):
Many times it's more important to us to be the
victim than it is to be responsible people.
Speaker 1 (21:35):
Mister Johnson, I want to understand.
Speaker 6 (21:39):
I want to talk about those skillful irresponsible. That's skillful.
Every responsibility or skillful responsible is really choosing not to
(22:04):
learn anymore. Yes, okay, it's choosing not to learn. It's choosing. Okay,
the house is paid off. I'm going to leave this
house to my son or his heirs. Then, okay, come
to the network, talk to one of the attorneys there,
get the plan together, make it happen, because if it
(22:27):
doesn't happen and then your son can't pay the taxes,
and even though that house is paid off, that's another
one or two percent of our total land own it
that's going to the state. Yes, you're gonna lose the
house eventually. Does that person that's inherit in the house
know that they inherit and also the liabilities of owning
(22:47):
it and what those responsibilities are. We got to teach
them that too. If they inherit in the house, that's
the only way that they're gonna be able to keep it.
So it's not just about the homeowner. It's all of
us need to know this. If somebody was to give
you a house tomorrow, literally give you a house tomorrow,
(23:08):
would you know what to do with it? Would you
know how to keep it? Would you know how to
make sure that it was working for you and your family?
If not, get in touch with me. Let's figure it
all out. Let me show you the game, and then
you can apply it. And instead of paying two thousand
dollars in rent, we're paying a fifteen hundred dollars payment.
(23:32):
Instead of paying fifteen hundred dollars in rent, we're paying
a nine hundred dollars payment.
Speaker 2 (23:38):
But you have to take that difference, all right, and
maybe bank that difference, all right for.
Speaker 3 (23:46):
Taxes of rainy day all days rainy. Huh yeah for me.
For me, that's that's prophecy.
Speaker 2 (23:54):
You know, they correct, you know, look for needed renovations
and repairs if.
Speaker 3 (24:01):
You know those kinds of things.
Speaker 2 (24:03):
You know, so when you when you do that, okay,
I take when when I was a little bit different,
I had to do something. Then once I got married,
you know who I married. Okay, But anyway I used
to take and pay my pay my car off. But
(24:23):
I continue to pay my car note into another account
that I could not would not touch. When you once
you make your car note, you can't go back to
the note holder and say, hey, I need to buy
a new suit. So I need I need one hundred
dollars in my car note back, you know, to buy
a suit. And so you don't touch that money. And
(24:44):
so that that now that money sits in the bank.
Making making money for you is drawing interest, all right. Now,
when you get ready to buy another car, you can
pay cash to the car. You save money. If a
car if you buy high aesthetically a twenty thousand dollars car,
that car through with interest and everything costs you thirty
(25:05):
thousand over the say a four year loan. All right,
So if you pay your car car note. If you
pay the car cash, look at the interest you see
over that period of time. If I've been making sense,
absolutely okay.
Speaker 6 (25:22):
But brother, go there there as many of us to
have a car note and don't have mortgage. Yeah, well
that's where I'm coming coming for. Yes, absolutely, we have
a car note when we're paying almost a two thousand
dollars car note and we have no mortgage.
Speaker 3 (25:34):
Yeah, brother, brother, real Dwayne.
Speaker 2 (25:37):
But you know it's necessary to have a horse to
get to get to the job, you know.
Speaker 6 (25:42):
Yeah, it depends on what kind of horse though you want.
Do you want to ride on Dolly or do you want.
Speaker 3 (25:47):
To Well, you know, Dolly may not make it. She
may not make it either, right, Okay, but that's some
of the rationale that some of us shoes. All right.
Speaker 2 (26:01):
Uh, and so uh if I have a roof over
my head, I can and a transportation to get back
and forth to work where I can continue to be
gainfully employ. Uh.
Speaker 3 (26:13):
It's a balancing but at.
Speaker 2 (26:14):
Some point we need to take and uh and leave.
Speaker 3 (26:19):
Uh.
Speaker 2 (26:19):
We don't need to go out every weekend and need truth,
all right, we don't need to. You don't need to
buy a jug every weekend and drink, you know. Right,
there's there's some things for we have to take. And
I think a key word came out this morning, unit
some sacrifices we have to make, all right, to be
able to make the transition, to make that shift everybody convenience.
Speaker 1 (26:41):
No one wants to sacrifice anymore.
Speaker 2 (26:42):
Right, Well, well, I mean, you know, everybody must look
like they're they they they're part of the quote unquote
upward and mobile people, you know, yes, yeah, and so
we we we we.
Speaker 3 (26:58):
Whether we can afford it or not.
Speaker 2 (27:00):
You know, we're at the marble room, all right, right,
all right, we're at what's the hotel?
Speaker 3 (27:06):
What's the nine.
Speaker 2 (27:09):
You know, the one, the one on West second rich color, yeah,
rich yeah, yes, okay, and stuff like that, you know,
eating out three, four or five times a week, you know,
and so it it adds up, all right where you
could take and put this buddy, you know, aside, pay
(27:31):
your place off and then even get investment properties.
Speaker 1 (27:35):
The power of budgeting.
Speaker 4 (27:38):
But saturday exactly as sacrifice and as self discipline. If
you don't have that self discipline, it sets yourself down
and let yourself no, you don't need that bottle you
don't need that meal. You can cook at home, like
you can make great wine at home. Again, I'm not
gonna get started down that rabbit hole. But self discipline
(27:59):
and sacrifice will take you so much further than just complacency.
Speaker 2 (28:05):
Absolutely so, Dwayne, Dwayne, I'm I'm, I'm I'm. I've just graduated. Well, okay,
I've been out of high school four years. I've been working.
Speaker 3 (28:19):
JUNI you could be excused go to your room without
your dinner. Okay.
Speaker 2 (28:28):
I just graduated from well, I've been out of high
school about four years.
Speaker 3 (28:33):
I've been working at ABC Company. I've got near.
Speaker 2 (28:42):
Six figures, you know, with overtime and whatnot and so forth.
But I don't I don't have I have nominal credit.
I may have a charge card at at mister Gilbert's
or Diamonds Men's store, okay, and maybe maybe I got
(29:04):
a MasterCard credit card, you know.
Speaker 5 (29:08):
Okay, So what what?
Speaker 3 (29:10):
What what do I do? What do I do?
Speaker 2 (29:11):
And I'm looking around. I've been living with mom and dad.
I've got some money, you know, save and and Dad
is giving me looking about telling my mom, telling mom
to take my name, take my plate off the table,
take my name off the pot and take my mattress
off the bed. So now I got to look for
for something else or someplace else to go.
Speaker 6 (29:33):
Yeah, So the first thing I would do is, or
the first thing that I would suggest to you, brother Goldstein,
is to try to learn as much as you possibly
can think about what type of property that you want
to own, if that's what you want to do when
(29:53):
you leave out. So I would sit down with myself
and determine, Hey, do I want to rent or do
I want to own a home? Because owning a home
is a very big decision, maybe the largest decision that
you make in a lifetime financially. So I would look
at all of the pros and cons of homeownership, and
(30:15):
there's quite a few on both sides of the fence.
After doing that, if you decided that, hey, you want
to own your own property, and I would try to
figure out exactly why is it? Because you wanted wealth
creation is that's just the first home and you want
to purchase one home at a time. You don't think
(30:36):
you want to be a landlord, or maybe you do
want to be a landlord, all of those sorts of things,
and see if you've even thought about it. After that,
we would take a look at budgeting. That's going to
be the first thing. We're going to make sure that
we have enough of reserves on a bank account that's
liquid for you to be able to suffice all of
the closing costs and satisfy the down payment. The more
(30:59):
of a down payment that you have, I'm gonna let
you know that that's gonna give you the best options.
Speaker 3 (31:04):
Okay.
Speaker 6 (31:04):
The best credit score is gonna give you the best options.
Speaker 5 (31:07):
Okay.
Speaker 6 (31:07):
If you don't know much about credit and haven't heard
much about credit, I would learn about the four s's
of credit, and that's all designed in my workshop and
it breaks down each one of them and all of
the terms that most lenders use and what they mean,
and then we look at what products we got out there.
(31:31):
So my job as a loan officer is literally to
assess your entire situation. Then I take that loan and
I shop it to right now about eighty different lenders,
and I find my client the best deal for their situation.
(31:52):
Prior to application and you finding a house, we should
be doing all lot of pre work to make sure
that when you do find that house, that we put
you in the best place possible right on your timeline
via Fyco Score, via your down payment amount vi it
you know the neighborhood that you want to be in,
(32:13):
that sort of thing, Thank you, thank you going.
Speaker 3 (32:21):
I was going to create another scenariopen for anyone.
Speaker 1 (32:24):
Looking to be a landlord.
Speaker 4 (32:26):
Where should they start and what should they do to
kind of prepare themselves for that type of business and
that market.
Speaker 6 (32:34):
Oh, I would say, start coming, And this is not
a shameless flug. I would start. I would say, starting
to be around more investors, more people that are doing
the same thing, going to networking events, meeting different investors,
(32:54):
meeting different realtors, meeting different wholesalers before doing anything, finding
out as much as you possibly can about the industry first.
That is what I would suggest.
Speaker 2 (33:11):
Now, neighborhoods, hold on, Yeah, but I'm just coming out
of high school. I've been out. I'm twenty two years old.
You know, how do I come in contact with investors?
Speaker 6 (33:26):
The same way that I did? Okay, the same exact
way that I did after leaving banking. I looked at
the network that I have. I determine who in that
network is in real estate, be it a realtor, a
lender or an investor, or, a contractor, a junk hauler,
(33:46):
a gutter guy, whoever it was. And I started going
where they go, Where do they get their customers from?
What networking events do they go to? I searched do
on Facebook event, Bright, uh meet up. I went to
these real estate network and events. I went to open houses,
(34:08):
all of those uh source of things I and I
found it that most people in the real estate industry
are very forthcoming with what you should know about not doing.
Everybody has heard us, don't rent to your family, keep
the water building your name. It's a lot of things
(34:30):
that are just you know, tips that you need to know,
and you'll learn them from those actual environments and networks.
Speaker 4 (34:38):
So hypothetically speaking, say, I did not listen to that
amazing advice, and I rented out to my sister who
trashed the a complete structure of the home to the
point like, I don't even know what I can do
with it. Is it worth to salvage that property or
should I go ahead and just sell it, get it
(35:01):
off of my books and obtain another property.
Speaker 6 (35:05):
It depends on if the property would still be profitable.
Speaker 1 (35:10):
I mean, she dogged it.
Speaker 4 (35:11):
I mean she was in there for five years and
did nothing, paid no bills.
Speaker 6 (35:17):
Yeah, but would it but would it still be profitable
and to do the repairs and get a new tenant
in and rent it back out.
Speaker 4 (35:30):
You mentioned programs. Are there programs that will help a
home owner repair a home in.
Speaker 1 (35:38):
That type of situation?
Speaker 3 (35:40):
Yes?
Speaker 1 (35:41):
Can we talk refinancing?
Speaker 4 (35:43):
Say I've had the home for about five years and
I'm like, yo, this person is just like it's just
killing me.
Speaker 5 (35:48):
Yeah.
Speaker 6 (35:48):
If it's an investment property, you can do what's called
a DSCR loan, which is a deck coverage ratio loan.
Has nothing to do with your personal income or anything.
We only wanted. We only looking at your credit score
to show that you're credit worthy. Uh. And then it's
the actual rents that determine if you qualify for the
(36:09):
loan and the property itself going do.
Speaker 3 (36:15):
I'm formulating something here?
Speaker 6 (36:17):
The other thing? Of course, you could do some refinances
with your primary residents as well, but most guys use
what's called a d s R for home improvements or
if they just purchased the property, they use a fix
and flip.
Speaker 1 (36:33):
Long So you've.
Speaker 4 (36:34):
Noted, especially on your LinkedIn and different things that I've
noticed on the site how weughly individuals use mortgage strategies
as well strategically. Excuse me, can you explain the advantages
of that approach.
Speaker 6 (36:50):
Yeah, so it's been around forever. If I was a
single guy, I'm going to tell you what my investment
and this is where we were getting to with brother
the ghost thing. No, if I was single, single, Okay,
if I was single, single, no kids, it's me and
my dog, right, I would buy me a house and
(37:12):
the opportunity zone. Uh so I don't have to pay
tax on it. If I'm sell it ten years later,
I still don't have to pay tax on it. If
I reinvested it into the opportunity zone. So I would
already identify what neighborhood and the opportunity zone it may
be four four, one oh five or for for one
on six here in Cleveland. Right then after I do that,
(37:35):
I would purchase that property using a government backed program
like FHA, or if I was in the military, I'd
use my VA to purchase it. I got to stay
in the property for one year, so I can live
in the property, fix on the property, renovate the property,
what have you. Once that year is up. Guess what
(37:56):
I do? I move out. I rented out and not
buy me another one.
Speaker 1 (37:59):
Okay, same scenario, but you're married with a family.
Speaker 6 (38:04):
But I got to find a wife that wants to
move every year. That's why I said I want to
be single, so and that's why it didn't work for me.
Speaker 3 (38:16):
But you know, if she's with the program and she
sees the value.
Speaker 2 (38:20):
Correct, Yeah, okay, then you know then there's something to
do correct correct.
Speaker 1 (38:25):
Yeah.
Speaker 6 (38:26):
It's all about having that teammate. But you have to
have the right teammate to do that, because then you
could do that every year, right, if you're getting the
right amount of rents and you're purchasing in the right neighborhood.
Speaker 3 (38:40):
If I was.
Speaker 6 (38:41):
Married, though, and I got married, after I bought that
first house, I would still rent that one and move
to the next one. But then once the initial house
had equity in it, I would refinance it to buy
the next investment property so that we would still stay
(39:02):
in our primary residence.
Speaker 2 (39:04):
Oh okay, okay, okay, let's let's take another break here.
You have been listening to Dwayne Johnson, Black Unicorn and
the Rabbi All Black thought everything was changed to inform
to inspire, to impact on w OVU ninety five point
nine FM. We will be right back all right, people,
(39:25):
we're back here with black thought. Everything was changed to inform,
to inspire and to impact on w OVU ninety five
point nine FM. Judy, you you had some follow up
for Dwayne.
Speaker 4 (39:40):
Yes, we talked a little bit about trends and what's
going on in the market right now. Several percent for
ABR rate on the loan is pretty average. What other
trends are occurring right now that we're kind of unexpected.
Speaker 6 (39:53):
Well in the middle market, a lot of private lending
that has come do or a lot of commercial institutions
and organizations. At the same time, rates are being suppressed
and they are actually stabilizing. Most people think, and I
(40:14):
think so as well, that that has a lot to
do with the new inventory that's coming onto the market
with new construction. People able to move to their next
house or to sell up, if you may. So there's
a lot of things like that happening. But we're also
(40:36):
seeing some lending terms relax a little bit, I guess
you would say, as far as on the commercial side
and investment side being able to cash out refive vacant
properties or purchasing vacant properties with fixing flips. Some of
(41:00):
that stuff is getting a little bit more lax and
most of the qualifications are dependent on property itself. But
banks they still don't like mixed use properties and stuff
like that. But there's lenders that are more open to
doing them now.
Speaker 5 (41:19):
So far our listeners, what does mix use me?
Speaker 6 (41:22):
Mixed use would be like say you had a two
storefront building and then upstairs it had like four apartments.
Speaker 3 (41:29):
Okay, all right, I like that.
Speaker 1 (41:32):
I actually.
Speaker 4 (41:35):
Yeah, I was like, that's not cond do so for
this situation right now. So when it comes to the future,
because you've been in the game a while, now, what
do you see happening transpiring, especially for Cleveland's housing market, I.
Speaker 6 (41:52):
See it already happening now. So there is on the
bright side for our community. Uh, there is a community
that Equity CMG is actually a part of, and that
is the Harmony District over in Glenville that is taking
place now. There's also some development on the east side
(42:15):
Lee and Harvard it's supposed to be taking place, and
there's a lot that's happening within midtown as well. So
I do think that Cleveland is a place to invest,
and it's a firm to me every day because of
how many foreign investors I deal with.
Speaker 4 (42:30):
That was my next question. How you feel about all
these foreigners? And I'm not talking about people that's international.
I mean, I'm talking about people out of state.
Speaker 6 (42:40):
They're both happening though.
Speaker 2 (42:42):
It's like Ward four, Ward four before the new boundaries,
all right, Ward four was forty percent of Ward four
was owned by Sweden.
Speaker 5 (42:52):
All right, So that that that kind of thing.
Speaker 3 (42:54):
So how do you Yeah, the.
Speaker 6 (42:56):
Majority of Atlanta is owned by a couple of corporations,
and we don't think about that. That's Atlanta. We don't
want that to happen here. Yeah, no, we don't.
Speaker 4 (43:05):
So as a black you identify black, I do, Okay,
So as a black loan officer, how do you feel
about that? I'm asking your personal feelings. Now we're getting intimate.
Speaker 6 (43:22):
All right, my personal feelings. My personal feelings is that
it's good and bad. There's a lot of housing and
there's a lot of dilapidated buildings. There's a lot of
vacant properties that are being renovated and repaired and are
(43:45):
serving our neighborhoods now, and I believe that is a
great thing and we need that because it cuts down
on crime, it cuts down on a lot of other things,
right that we know has happened, and then he's abandoned
and vacant properties. The other side of that is that
(44:08):
the person doesn't have any type of heart or loyalty
to that community. If they do not be they're not
involved or have a representative involved in that community. They
don't know what's going on in that community. They may
not even know their neighbors' names in that community, and
nobody knows them or either And it's actually set up
(44:32):
by design for that so that they can say unknown.
So it's hard to find and hit a moving target
if they're not keeping the property up to snuff. So
it's it's six and one hand and a half a
dozen in the other. But I think the solution is
for our community to make a stance and start developing
(44:56):
our own community. And that's not just properties. And hey,
we own property all on the same street. That's also okay.
How do we acquire how do we keep moving the
ball forward? How do we acquire more? How do we
provide properties for our own businesses to open up so
(45:16):
that we're not leasing from you know, so do we
keep our money in the community. And that's the way
that we can grow, I believe.
Speaker 1 (45:23):
Thank you, Thank you.
Speaker 4 (45:24):
I told you were get an intimate here on our
way out. I want to hear about what drives your
passion for this work.
Speaker 6 (45:30):
It's funny that you bring that up, Unigt, because I
was going to mention it earlier when you were talking
about your dad. I'm the screw up. You know, I'm
the oldest listen to this black folk. I'm the oldest
grandson on both sides of my family. And I grew
(45:52):
up being the only child of my mother and my father.
Speaker 1 (45:59):
A lot of hope on oh.
Speaker 6 (46:01):
And and and my grandparents believed all of that. So
I inherited the family house. It skipped my father and
my father's generation and it came to me. And you
know what, Uni, I pissed it away. And that's where
the passion comes from, because I know the mistakes that
I made. I know I made the mistakes of renting
(46:23):
the family, I made the mistakes of renting the friends.
I made quite a few different mistakes that I know
now that I won't ever make again, and that I
haven't but yeah, that property is and in my h
and and I could blame my family, I could blame
a lot of people, but because of my relationship with
(46:44):
my grandfather, I take on that responsibility and we're gonna
fix it.
Speaker 4 (46:49):
Do you ever circle around on the market see if
it's on the market, just just to see and if.
Speaker 1 (46:54):
It was, would you buy it?
Speaker 3 (46:55):
Yeah?
Speaker 6 (46:55):
I'm waiting for it to you.
Speaker 3 (46:56):
You are?
Speaker 1 (46:57):
I feel like that about my home to.
Speaker 6 (46:59):
Ye, and I would. And all of those dreams that
I was thinking of when I was staying in the
property right myself, and it was my primary dwelling before
I started renting it is to buy all little lots
up around it and the smack dab in the opportunity zone.
Speaker 4 (47:17):
Is it you have the rest of your family all
in on one street or is it?
Speaker 2 (47:23):
No?
Speaker 6 (47:23):
It would just be me reinvesting back into that community.
Speaker 1 (47:26):
I love that. I love that you got anything else?
Speaker 6 (47:29):
On the way out?
Speaker 3 (47:29):
Uh?
Speaker 2 (47:30):
Well, on the way I'll don't forget that. We're having
the Foreign Missions Board a meeting tonight at seven o'clock
at Second Eveliza Baptist Church uh uh two from six
to seven will be the meet and greet at eight
(47:52):
Uh eighteen eighty one East seventy first Street, the president
brother brother Uh, doctor Boise kimber Of the President of
the National Baptist Convention USA, will be the guest speaker.
Good another good o'mega man. All right, and so folks,
let's come. You know forty seven is cutting off foreign
(48:13):
aid and it's really going to impact Africa, and I
think one of our central focuses is going to be Africa.
So let's come out and be supportive. And with that, Dwayne,
we appreciate you coming and being with us.
Speaker 4 (48:28):
Yes, can you give one last invite to your next
networking event happening on the twenty seventh of May.
Speaker 6 (48:34):
Yes, May twenty seventh, play Bar and Grill six pm
to nine pm. And my guests this month will be myself, SHAWNA. Stevens,
who is a area realtor, and also Carrie Howard, my
brother man chapter Man, who is the CEO and president
(48:58):
of green Bridge Consulting.
Speaker 4 (49:00):
And it's free and you know how we love that
for a better word free fr ee. So look, they
are not even charging for this crazy information I can
literally life changing information, Like they're not charging for you
to just come and network and ask questions. This is
all free again. That's May twenty seventh, six to nine pm.
Speaker 6 (49:23):
At where again, play barn, grill.
Speaker 1 (49:26):
Play bar and grill.
Speaker 6 (49:27):
All welcome the old Najo. Six to nine.
Speaker 2 (49:32):
Yes.
Speaker 4 (49:33):
Yeah.
Speaker 1 (49:33):
Is there a minimum age to attend?
Speaker 6 (49:35):
Oh yeah, because we are in a bar, so you
gotta be twenty one.
Speaker 1 (49:38):
Okay, got you, gotcha?
Speaker 2 (49:40):
All right, people, and Rabbi is retiring as pastor of
the Heritage Community Baptist Church on Saturday evening six o'clock
at the Mediterranean Room. If you need tickets, called missus
Goldstein area code two one six seven eight nine seven
five eight four again two one six seven seven five
(50:01):
eight four. Ah, well, unally, that kind of wraps it up.
I will drink from my part of the river and
no one shall keep me from it until next time.
This is the Rabbi along with the black unicorn saying
Shalom Haabbah.
Speaker 1 (50:20):
This is Wovu Studios.
This is w O v U Studios.
Speaker 2 (00:07):
All shalom, this is black thought. Everything must change to inform,
to inspire, and to impact on w O v U
ninety five point nine f M. This is the Rabbi
along with the Black Unicorn, bringing you today's episode. And man,
we got a good one today. You got Judy, You
(00:27):
just don't know it, but you are blessed today because
you got two old dogs in the house.
Speaker 3 (00:33):
You got two omega men in the house.
Speaker 2 (00:36):
Alright, alright, yes, listen, Judy, how was your weekend?
Speaker 4 (00:43):
It was good, It was good. I poured into myself
a lot this weekend. I recognized that my spirit needed
me to and I've just been truckling along, man, truckling along.
Speaker 5 (00:56):
All right, that's a good thing.
Speaker 2 (00:58):
Well, Judy, we uh we uh you know, as you know,
on on Saturday, I will retire as pastor of Heritage
Community Baptist Church.
Speaker 5 (01:08):
Uh.
Speaker 2 (01:09):
And on Sunday we uh we shared with him our
farewell message.
Speaker 5 (01:14):
Uh. And it was it was it was a moment.
It was a moment.
Speaker 2 (01:19):
Uh and uh we had to pull the mask off
to so to speak, you know, and and speak. Uh.
We we were nice. And then my wife wanted to
do a little shopping. So we went out to uh
what is it that south for the South Park out
there in North Homestead, Great Northern Mall and uh and
(01:39):
then we stopped off a famous Daves and man, we
had the platter for two. They had fried chicken, it
had brisket of beef, it had shoulder, it had uh ribs,
it had corn, it had everything. Jos and had Joe
Joe's had beans that had corn on the cob.
Speaker 3 (02:03):
Oh. Man.
Speaker 2 (02:04):
We made a pig hall out of ourselves and then
we kicked it off with a little banana pudding, you know.
And so it was a wonderful day. Then we came
home and we kind of kicked our shoes off and
relaxed and enjoyed one another. And we've been going through
(02:27):
some spiritual awakenings here lately. And I got a message
from the Holy Spirit last night stating that about nine
o'clock this morning something was going to happen and that
was going to open some doors for me. And as
(02:48):
you know, I have this twenty five million dollars strategic
plan for the black community, and I was wondering how
some of it would be actuated. And then you know,
my wife and I have been faced with some challenges
and and so we you know. And man, I saw
this little black car kind of following me, and I
(03:09):
didn't kind of. I said, wait aitu it, I've made
some invasive, evasive moves, you know, to get rid of
this little black car, you know. And I got a
big black car. This little black car.
Speaker 3 (03:22):
Is following me. I should have just ran over with
the big black car, you know.
Speaker 2 (03:26):
But anyway, we got to a light, okay, and a
little black car pulled around and pulled beside me, and
it was my fraternity brother, Dwayne Johnson. And we talked,
you know, through the windows, and I told him why
I was headed. He said, I'll meet you there. So
we got out here in the parking lot, and he
(03:46):
told me what he was doing.
Speaker 4 (03:48):
Uh.
Speaker 3 (03:48):
And Dwayne was a bank has been a banker.
Speaker 2 (03:51):
And Dwayne told me what he was doing, and he said, man,
can I come on your show? I said, what are
you doing this afternoon? And so he said yes. And
so we have with us a good Omega man, all right,
(04:12):
the guys who belonged to the only real fraternity other
than the real Greek fraternity. I'll say it like that, okay,
the Greek letter fraternity. The real fraternity is Masonic and
they were they're biblical, all right, the real Greek letter fraternity,
the old megasci Fi Fraternity incorporated, all right. And he
(04:35):
he is a a brother that has truly immersed in
enthusiasm for our fraternity. And he's a community activist. He
really has the community at art. Dwyane, wyn't you introduce
our listening audience to.
Speaker 3 (04:52):
Yourself.
Speaker 5 (04:53):
You know who are you, where are you, where you're from?
Speaker 3 (04:56):
You know where'd you go to school?
Speaker 5 (04:57):
Et cetera, et cetera.
Speaker 6 (04:58):
First of all, I want to say thank you, brother
Ghostin for having me on and being in your company
is always great. I always learned a couple of things
that I can put in my tool belt from you.
I was truly a blessing seeing you this morning. For
some reason, I was getting pushed out of the house
this morning to make it to the office early. Now
(05:20):
I know why. So yeah to all of your listeners.
I'm Dwayne Johnson, born and bred in Cleveland, Ohio, and
I have a graduate degree from the benedict from Benedictine
University in Lysle, Illinois. Historically a commercial banker, I've held
(05:43):
quite a few positions within the commercial banks, actually second
generation banker as well, and so experience in banking over
twenty something close to thirty years. What I would say,
what I'm doing right now, There's always a shift that
(06:04):
comes in a man's life and always depends on how
you deal with that shift. Correct. Do you choose to
learn more and continue to grow or do you choose
not to?
Speaker 3 (06:14):
Yes, we know the.
Speaker 6 (06:16):
Consequences of both, but both require pain and hard work.
So I chose to leave banking because I believe that
in a lot of places where we are in a
commercial environment, we kind of forget about our dreams. It's
kind of like you get paid enough to forget about them, honest. Yes, So,
(06:41):
looking at the landscape of real estate across the nation
over the past couple of years, I would say probably
prior to the pandemic, with me being a well versed
banker myself, I bought my house in the bottom of
the market. I was able to sell it at the
top of the market in August September of last year,
(07:04):
and I realized that a lot of people don't know
how to do that, okay, or they don't understand it,
and they're buying houses every day, and why don't they
understand it? So I stepped into the mortgage industry and
I'm a loan officer right now, and anything that has
a mortgage, I can help you with it. So it's
(07:24):
crazy to hear you say that about this morning, brother Goldstein.
And it's a couple of things in a black community
that we have to realize that has happened to us.
It's not that we don't belong at the table. It's
not that we can't build these huge real estate portfolios,
and some of us have them, but it should be
more widespread in our community. And this is the reason why,
(07:48):
because right now we own ninety percent less land than
we did in the year nineteen ten. Okay, I'm gonna
let that stink in. Yeah, okay, But it's a couple
of reasons why. The Great Depression, the Great Recession, the
Great Migration, red lining. During the Great Depression, fifty nine
(08:11):
percent of black farm owners lost their land during that time,
landa had taken generations for him to even acquire since slavery.
We all hear about red lining, but black residents were
pushed into overcrowded, under resource urban areas generational wealth that
could have been built through home ownership was systematically blocked.
Speaker 3 (08:34):
So all of you.
Speaker 6 (08:35):
Youngsters and all of those that have youngsters in their
house whole, it's imperative for those youngsters to grow up
with a sense of ownership and a sense of owning
my home. And the reason being is because it is
the easiest way towards building generational wealth. And youngsters have
(08:55):
what we don't have. Brother ghosting, Yes, I'm lumping you.
I'm mp myth in your category.
Speaker 3 (09:01):
Yah right. Yeah, they got time.
Speaker 5 (09:04):
Yeah, you have much more than I do because I'm
eighty six.
Speaker 6 (09:06):
Right right, But they got time. Yeah, they have time,
so they can help they can help us make up
that difference.
Speaker 3 (09:11):
Joint.
Speaker 2 (09:12):
Dwayne, just can we back up just a moment? Sure, Okay,
because we have data that says when the Emancipation Proclamation
was signed January September twenty second, eighteen sixty two, African
Americans who were here as slaves right with slavery and
(09:33):
free labor, we represented one point two percent of the
growth national product of America.
Speaker 3 (09:39):
Today is.
Speaker 2 (09:42):
April twenty ninth, okay, twenty twenty five, we still only
represent one point two percent of the growth national product
of America. How do we get past that and become
landowner owners?
Speaker 6 (09:56):
Also, we got to learn the system right first. We
got to know where we came from, where we are
and where we want to go and why so black
homeowners were disportionunately targeted with subprime compedatory loans, even when
they qualify for better terms. That is something that occurred,
(10:20):
and it occurred out of not knowing, not doing the homework,
not doing the research, just blindly saying, oh, okay, I
can think that payment.
Speaker 5 (10:30):
Okay.
Speaker 6 (10:32):
So I've developed a home ownership workshop that actually takes
us through our history, takes us through the entire loan process,
lets the student know what is looked on as far
as their credit, what qualifications that they need, what are
(10:53):
the forces of credit. It explains all of those things,
even the loan process from the time that you make
an offer and what happens behind the scenes, so that
you understand, okay, so that you can make sure that
everything happens timely because you are signing a contract with
a contract date.
Speaker 5 (11:13):
Okay, you do you have a question?
Speaker 1 (11:16):
Oh good, no, but.
Speaker 4 (11:21):
Seriously, you know I'm thirty five, I'm literally in the
process of closing on the home.
Speaker 1 (11:25):
I wish I met you a few months ago. I
know I have.
Speaker 4 (11:28):
I'm like, I keep staring at you. Trobaly like, why
does you keep looking at me? I'm like, I know
I've seen him somewhere. But then I brought up your
LinkedIn and it made sense. The network, Yes, can we
talk about the network? That is what you've been doing
with the network. You mentioned your workshops. Is that a
part of the network or is that separate?
Speaker 6 (11:48):
Uh, It's all part of Dwayne Johnson LLC. Which is
I actually worked for a brokerage, Equity CMGH in Rocky River.
I can break it all down, and the equity CMG
is one of the largest minority on brokerages in the
state of Ohio. We deal with about eighty to ninety
different lenders. We can work well in the commercial spot
(12:11):
and the residential spot, and also with real estate investors
as well. Having all of those tools in my belt,
I soon realize that there's a lot of investors, there's
a lot of realtors. There's a lot of home buyers
that don't know all of the options that are out
(12:32):
there and how those products work and how they would
or not qualify for those products. So that's the ultimate
goal of Dwayne Johnson LLC. It's in form as many
people as possible the Network's vision for the network and
why I created it is so all those like minded
(12:53):
people can come together and we meet every fourth Tuesday
of every month. We just started in February. We've had
some decent turnouts, but I encourage and employ everyone to
keep coming and to keep the network continuously growing.
Speaker 4 (13:13):
Thank you, thank you. You mentioned learning the game. I
know I'm paraphrasing.
Speaker 1 (13:17):
You didn't say it.
Speaker 3 (13:17):
Like that, but.
Speaker 6 (13:20):
You can't just have the books. You gotta have a
game too.
Speaker 4 (13:22):
So for a person like myself who first time buyer,
had no idea, you know, parents renting, So I just
am kind of like in the beginning, not anymore, but
because I did educate myself, but before I was so confused.
I didn't understand the process, even what underwriting was and
(13:45):
why that was the toughest portion of closing and all
of these things. Is this something that you all, like
you went through what you are going through in the workshop.
But for someone like me who and maybe they can't
make the workshop, do they have a different option like
virtual or what should that person be doing to educate themselves,
(14:06):
what should they be researching and.
Speaker 6 (14:08):
How great Well, first, you can contact me Dwayne Johnson.
That's d u a n E. Johnson at Equity c
MG dot com. That is my email. I'm also on
LinkedIn Dwayne Johnson d U a n E. Johnson on LinkedIn.
(14:30):
I can be found on Facebook and Instagram as well. Uh,
for one on one questions and information. Right now, we're
rolling it out as a workshop. There is a sign
up sheet on my Facebook page with the QR code
if you're interested in the workshop, and I'll be announcing
(14:51):
those towards the end of this month, right around the
same time that the network happens, so right around for Tuesday.
Some other options and things that you may want to
do is if you currently have a banker, is to
ask them the questions and to interview any banker just
like they're interviewing you, right and building a relationship with
(15:14):
that banker. It kind of comes down to being able
to be comfortable with someone to have a real conversation
with versus me asking you questions and you're just telling
me answers.
Speaker 1 (15:29):
I'm sorry, go ahead.
Speaker 6 (15:34):
Because of our history, there is so many things on
both sides of the fence when a banker is having
a conversation with us, Right, because if I'm the client,
I may withhold information that could help my banker, right,
I may be tell him tell my banker something that
(15:54):
he should have known that could have helped me. But
we didn't have that type of relationship where we could
just share free amongst one another.
Speaker 4 (16:01):
And that's a testimony to how important it is to
have a relationship with the banker or a banker, have
a banker for your personal, banker for yourself, Like it's
best as well to know who is the branch manager
at the bank that you visit. I shout out to
Mss Murphy and the Phoebe Foundation. I didn't realize the
(16:22):
importance of knowing your bank and knowing your banker and
what that relationship could actually do for your account. Yeah,
it's things that you know the bank have that they
don't offer you until you build a relationship with them.
Speaker 2 (16:35):
And then it's good to have a good relationship with
the host of the show. We're gonna take a break
right now. Okay, you have been listening to Black Thought.
Everything was changed to inform, to inspire, and to impact
on WOVU ninety five point nine FM. All right, you're
back here with Black Thought. Everything was changed to inform,
to inspire and to impact with the Rabbi Black Unicorn
(16:59):
and the good old made the man Dwayne Johnson, who's
talking to us about ownership land ownership. Listen, people, I
want you to know that behind the scenes, definition of
a real American is to be a white Anglo Saxon
male twenty one years old Protestant with at least one
(17:23):
acre of land. And so you're not considered American unless
you are wealthy. You're not wealthy unless your own property.
And so we have to get into the property ownership gain.
I remember when some years ago, Dwayne, when I was
in college. To be they had kind of changed things up.
(17:46):
To be a wealthy person or well to do or
a stable person, you need to either have ten thousand
dollars in the bank or two thousand dollars signature. But
now they're going back too. To be wealthy, you have
you have to be a property owner, all right. Uh,
And it also gives you know, and so forth and
(18:10):
so on. And when you spending thousands of dollars in
some instances a month for rent it makes more sense
to be putting it into something that you will eventually own.
Speaker 6 (18:23):
Yeah, but brother Goldsting, people are always balk because of
interest rates being high, and no, I got to play
the closing costs and all of these things. You know,
check out. The real doggish answer is that rent is
one hundred percent and actual mortgage rates is around six
to seven percent, right, yeah?
Speaker 3 (18:43):
Simple? Is that? Yes? And that makes good sense.
Speaker 1 (18:46):
That high is seven high?
Speaker 6 (18:49):
Uh? Seven is not high in today's market and environment,
and those things are all relative. Yes, in our lifetime.
We've seen in my lifetime, I've seen him as low
as one percent, yes, yes, so, but I've also seen
him as high as nine and ten percent.
Speaker 2 (19:09):
Yes, okay, And so as as a brother Dwayne is saying,
you know your rent is one hundred percent, you get absolutely,
and you're paying somebody else's mortgage, correct and putting money
in their pocket.
Speaker 6 (19:24):
Correct, because they chose to buy the house and to
take out the mortgages, pay the closs and costs and
pass that cost on to you to you, and now
you're going to pay their house off. If you've been
in the house for twenty years, most likely you already have.
Speaker 2 (19:36):
Yes, all right, and so why not do it for yourself?
Speaker 3 (19:41):
It makes sense to.
Speaker 1 (19:42):
Agree, Yeah, okay, I agree.
Speaker 4 (19:44):
I was very upset with my dad let our home
go in the house I grew up in, go I said,
why we had an acre and lane? He said, I'm
not doing this yard by myself. Get a ride more
to be doing there?
Speaker 1 (20:00):
You know, I was off to the army. He was like, ah, yeah, nah,
I'm like, bro, just pay somebody to do it.
Speaker 4 (20:08):
We have a cousin who does landscaping, Like, can we
talk about that? Why that was UNI hitting her head
with a keyboard because it's frustrating. I don't understand because
my father is not the only one. There's a lot
of people in that age group who have completely just retired.
(20:28):
Feel like they did their jobs, feel like they did
what they were supposed to do. They raised the kids,
they got their pension, they got their retirement. They don't
want to do anything else. They're letting their homes go.
They barely want to be grandparents. I don't know what's
going on. To tell me something, what's going on?
Speaker 3 (20:46):
For one of the things I think we've talked about
this how we because like I'm still being willful.
Speaker 2 (20:52):
Irresponsible and skillful irresponsible Okay, skillful irresponsible to some degree.
No one has taught them how to be beyond this
point transition, yes, how to transition.
Speaker 4 (21:06):
For themselves, especially when they're of the worker generation.
Speaker 2 (21:09):
Right, so, skillfully they're irresponsible. But then there's the ones
who are willfully irresponsible because they give it up, because
they choose to give it up, because to hope to
be responsible beyond that point means that they have to give.
Speaker 5 (21:26):
Up being the victim, all right, And.
Speaker 2 (21:28):
Many times it's more important to us to be the
victim than it is to be responsible people.
Speaker 1 (21:35):
Mister Johnson, I want to understand.
Speaker 6 (21:39):
I want to talk about those skillful irresponsible. That's skillful.
Every responsibility or skillful responsible is really choosing not to
(22:04):
learn anymore. Yes, okay, it's choosing not to learn. It's choosing. Okay,
the house is paid off. I'm going to leave this
house to my son or his heirs. Then, okay, come
to the network, talk to one of the attorneys there,
get the plan together, make it happen, because if it
(22:27):
doesn't happen and then your son can't pay the taxes,
and even though that house is paid off, that's another
one or two percent of our total land own it
that's going to the state. Yes, you're gonna lose the
house eventually. Does that person that's inherit in the house
know that they inherit and also the liabilities of owning
(22:47):
it and what those responsibilities are. We got to teach
them that too. If they inherit in the house, that's
the only way that they're gonna be able to keep it.
So it's not just about the homeowner. It's all of
us need to know this. If somebody was to give
you a house tomorrow, literally give you a house tomorrow,
(23:08):
would you know what to do with it? Would you
know how to keep it? Would you know how to
make sure that it was working for you and your family?
If not, get in touch with me. Let's figure it
all out. Let me show you the game, and then
you can apply it. And instead of paying two thousand
dollars in rent, we're paying a fifteen hundred dollars payment.
(23:32):
Instead of paying fifteen hundred dollars in rent, we're paying
a nine hundred dollars payment.
Speaker 2 (23:38):
But you have to take that difference, all right, and
maybe bank that difference, all right for.
Speaker 3 (23:46):
Taxes of rainy day all days rainy. Huh yeah for me.
For me, that's that's prophecy.
Speaker 2 (23:54):
You know, they correct, you know, look for needed renovations
and repairs if.
Speaker 3 (24:01):
You know those kinds of things.
Speaker 2 (24:03):
You know, so when you when you do that, okay,
I take when when I was a little bit different,
I had to do something. Then once I got married,
you know who I married. Okay, But anyway I used
to take and pay my pay my car off. But
(24:23):
I continue to pay my car note into another account
that I could not would not touch. When you once
you make your car note, you can't go back to
the note holder and say, hey, I need to buy
a new suit. So I need I need one hundred
dollars in my car note back, you know, to buy
a suit. And so you don't touch that money. And
(24:44):
so that that now that money sits in the bank.
Making making money for you is drawing interest, all right. Now,
when you get ready to buy another car, you can
pay cash to the car. You save money. If a
car if you buy high aesthetically a twenty thousand dollars car,
that car through with interest and everything costs you thirty
(25:05):
thousand over the say a four year loan. All right,
So if you pay your car car note. If you
pay the car cash, look at the interest you see
over that period of time. If I've been making sense,
absolutely okay.
Speaker 6 (25:22):
But brother, go there there as many of us to
have a car note and don't have mortgage. Yeah, well
that's where I'm coming coming for. Yes, absolutely, we have
a car note when we're paying almost a two thousand
dollars car note and we have no mortgage.
Speaker 3 (25:34):
Yeah, brother, brother, real Dwayne.
Speaker 2 (25:37):
But you know it's necessary to have a horse to
get to get to the job, you know.
Speaker 6 (25:42):
Yeah, it depends on what kind of horse though you want.
Do you want to ride on Dolly or do you want.
Speaker 3 (25:47):
To Well, you know, Dolly may not make it. She
may not make it either, right, Okay, but that's some
of the rationale that some of us shoes. All right.
Speaker 2 (26:01):
Uh, and so uh if I have a roof over
my head, I can and a transportation to get back
and forth to work where I can continue to be
gainfully employ. Uh.
Speaker 3 (26:13):
It's a balancing but at.
Speaker 2 (26:14):
Some point we need to take and uh and leave.
Speaker 3 (26:19):
Uh.
Speaker 2 (26:19):
We don't need to go out every weekend and need truth,
all right, we don't need to. You don't need to
buy a jug every weekend and drink, you know. Right,
there's there's some things for we have to take. And
I think a key word came out this morning, unit
some sacrifices we have to make, all right, to be
able to make the transition, to make that shift everybody convenience.
Speaker 1 (26:41):
No one wants to sacrifice anymore.
Speaker 2 (26:42):
Right, Well, well, I mean, you know, everybody must look
like they're they they they're part of the quote unquote
upward and mobile people, you know, yes, yeah, and so
we we we we.
Speaker 3 (26:58):
Whether we can afford it or not.
Speaker 2 (27:00):
You know, we're at the marble room, all right, right,
all right, we're at what's the hotel?
Speaker 3 (27:06):
What's the nine.
Speaker 2 (27:09):
You know, the one, the one on West second rich color, yeah,
rich yeah, yes, okay, and stuff like that, you know,
eating out three, four or five times a week, you know,
and so it it adds up, all right where you
could take and put this buddy, you know, aside, pay
(27:31):
your place off and then even get investment properties.
Speaker 1 (27:35):
The power of budgeting.
Speaker 4 (27:38):
But saturday exactly as sacrifice and as self discipline. If
you don't have that self discipline, it sets yourself down
and let yourself no, you don't need that bottle you
don't need that meal. You can cook at home, like
you can make great wine at home. Again, I'm not
gonna get started down that rabbit hole. But self discipline
(27:59):
and sacrifice will take you so much further than just complacency.
Speaker 2 (28:05):
Absolutely so, Dwayne, Dwayne, I'm I'm, I'm I'm. I've just graduated. Well, okay,
I've been out of high school four years. I've been working.
Speaker 3 (28:19):
JUNI you could be excused go to your room without
your dinner. Okay.
Speaker 2 (28:28):
I just graduated from well, I've been out of high
school about four years.
Speaker 3 (28:33):
I've been working at ABC Company. I've got near.
Speaker 2 (28:42):
Six figures, you know, with overtime and whatnot and so forth.
But I don't I don't have I have nominal credit.
I may have a charge card at at mister Gilbert's
or Diamonds Men's store, okay, and maybe maybe I got
(29:04):
a MasterCard credit card, you know.
Speaker 5 (29:08):
Okay, So what what?
Speaker 3 (29:10):
What what do I do? What do I do?
Speaker 2 (29:11):
And I'm looking around. I've been living with mom and dad.
I've got some money, you know, save and and Dad
is giving me looking about telling my mom, telling mom
to take my name, take my plate off the table,
take my name off the pot and take my mattress
off the bed. So now I got to look for
for something else or someplace else to go.
Speaker 6 (29:33):
Yeah, So the first thing I would do is, or
the first thing that I would suggest to you, brother Goldstein,
is to try to learn as much as you possibly
can think about what type of property that you want
to own, if that's what you want to do when
(29:53):
you leave out. So I would sit down with myself
and determine, Hey, do I want to rent or do
I want to own a home? Because owning a home
is a very big decision, maybe the largest decision that
you make in a lifetime financially. So I would look
at all of the pros and cons of homeownership, and
(30:15):
there's quite a few on both sides of the fence.
After doing that, if you decided that, hey, you want
to own your own property, and I would try to
figure out exactly why is it? Because you wanted wealth
creation is that's just the first home and you want
to purchase one home at a time. You don't think
(30:36):
you want to be a landlord, or maybe you do
want to be a landlord, all of those sorts of things,
and see if you've even thought about it. After that,
we would take a look at budgeting. That's going to
be the first thing. We're going to make sure that
we have enough of reserves on a bank account that's
liquid for you to be able to suffice all of
the closing costs and satisfy the down payment. The more
(30:59):
of a down payment that you have, I'm gonna let
you know that that's gonna give you the best options.
Speaker 3 (31:04):
Okay.
Speaker 6 (31:04):
The best credit score is gonna give you the best options.
Speaker 5 (31:07):
Okay.
Speaker 6 (31:07):
If you don't know much about credit and haven't heard
much about credit, I would learn about the four s's
of credit, and that's all designed in my workshop and
it breaks down each one of them and all of
the terms that most lenders use and what they mean,
and then we look at what products we got out there.
(31:31):
So my job as a loan officer is literally to
assess your entire situation. Then I take that loan and
I shop it to right now about eighty different lenders,
and I find my client the best deal for their situation.
(31:52):
Prior to application and you finding a house, we should
be doing all lot of pre work to make sure
that when you do find that house, that we put
you in the best place possible right on your timeline
via Fyco Score, via your down payment amount vi it
you know the neighborhood that you want to be in,
(32:13):
that sort of thing, Thank you, thank you going.
Speaker 3 (32:21):
I was going to create another scenariopen for anyone.
Speaker 1 (32:24):
Looking to be a landlord.
Speaker 4 (32:26):
Where should they start and what should they do to
kind of prepare themselves for that type of business and
that market.
Speaker 6 (32:34):
Oh, I would say, start coming, And this is not
a shameless flug. I would start. I would say, starting
to be around more investors, more people that are doing
the same thing, going to networking events, meeting different investors,
(32:54):
meeting different realtors, meeting different wholesalers before doing anything, finding
out as much as you possibly can about the industry first.
That is what I would suggest.
Speaker 2 (33:11):
Now, neighborhoods, hold on, Yeah, but I'm just coming out
of high school. I've been out. I'm twenty two years old.
You know, how do I come in contact with investors?
Speaker 6 (33:26):
The same way that I did? Okay, the same exact
way that I did after leaving banking. I looked at
the network that I have. I determine who in that
network is in real estate, be it a realtor, a
lender or an investor, or, a contractor, a junk hauler,
(33:46):
a gutter guy, whoever it was. And I started going
where they go, Where do they get their customers from?
What networking events do they go to? I searched do
on Facebook event, Bright, uh meet up. I went to
these real estate network and events. I went to open houses,
(34:08):
all of those uh source of things I and I
found it that most people in the real estate industry
are very forthcoming with what you should know about not doing.
Everybody has heard us, don't rent to your family, keep
the water building your name. It's a lot of things
(34:30):
that are just you know, tips that you need to know,
and you'll learn them from those actual environments and networks.
Speaker 4 (34:38):
So hypothetically speaking, say, I did not listen to that
amazing advice, and I rented out to my sister who
trashed the a complete structure of the home to the
point like, I don't even know what I can do
with it. Is it worth to salvage that property or
should I go ahead and just sell it, get it
(35:01):
off of my books and obtain another property.
Speaker 6 (35:05):
It depends on if the property would still be profitable.
Speaker 1 (35:10):
I mean, she dogged it.
Speaker 4 (35:11):
I mean she was in there for five years and
did nothing, paid no bills.
Speaker 6 (35:17):
Yeah, but would it but would it still be profitable
and to do the repairs and get a new tenant
in and rent it back out.
Speaker 4 (35:30):
You mentioned programs. Are there programs that will help a
home owner repair a home in.
Speaker 1 (35:38):
That type of situation?
Speaker 3 (35:40):
Yes?
Speaker 1 (35:41):
Can we talk refinancing?
Speaker 4 (35:43):
Say I've had the home for about five years and
I'm like, yo, this person is just like it's just
killing me.
Speaker 5 (35:48):
Yeah.
Speaker 6 (35:48):
If it's an investment property, you can do what's called
a DSCR loan, which is a deck coverage ratio loan.
Has nothing to do with your personal income or anything.
We only wanted. We only looking at your credit score
to show that you're credit worthy. Uh. And then it's
the actual rents that determine if you qualify for the
(36:09):
loan and the property itself going do.
Speaker 3 (36:15):
I'm formulating something here?
Speaker 6 (36:17):
The other thing? Of course, you could do some refinances
with your primary residents as well, but most guys use
what's called a d s R for home improvements or
if they just purchased the property, they use a fix
and flip.
Speaker 1 (36:33):
Long So you've.
Speaker 4 (36:34):
Noted, especially on your LinkedIn and different things that I've
noticed on the site how weughly individuals use mortgage strategies
as well strategically. Excuse me, can you explain the advantages
of that approach.
Speaker 6 (36:50):
Yeah, so it's been around forever. If I was a
single guy, I'm going to tell you what my investment
and this is where we were getting to with brother
the ghost thing. No, if I was single, single, Okay,
if I was single, single, no kids, it's me and
my dog, right, I would buy me a house and
(37:12):
the opportunity zone. Uh so I don't have to pay
tax on it. If I'm sell it ten years later,
I still don't have to pay tax on it. If
I reinvested it into the opportunity zone. So I would
already identify what neighborhood and the opportunity zone it may
be four four, one oh five or for for one
on six here in Cleveland. Right then after I do that,
(37:35):
I would purchase that property using a government backed program
like FHA, or if I was in the military, I'd
use my VA to purchase it. I got to stay
in the property for one year, so I can live
in the property, fix on the property, renovate the property,
what have you. Once that year is up. Guess what
(37:56):
I do? I move out. I rented out and not
buy me another one.
Speaker 1 (37:59):
Okay, same scenario, but you're married with a family.
Speaker 6 (38:04):
But I got to find a wife that wants to
move every year. That's why I said I want to
be single, so and that's why it didn't work for me.
Speaker 3 (38:16):
But you know, if she's with the program and she
sees the value.
Speaker 2 (38:20):
Correct, Yeah, okay, then you know then there's something to
do correct correct.
Speaker 1 (38:25):
Yeah.
Speaker 6 (38:26):
It's all about having that teammate. But you have to
have the right teammate to do that, because then you
could do that every year, right, if you're getting the
right amount of rents and you're purchasing in the right neighborhood.
Speaker 3 (38:40):
If I was.
Speaker 6 (38:41):
Married, though, and I got married, after I bought that
first house, I would still rent that one and move
to the next one. But then once the initial house
had equity in it, I would refinance it to buy
the next investment property so that we would still stay
(39:02):
in our primary residence.
Speaker 2 (39:04):
Oh okay, okay, okay, let's let's take another break here.
You have been listening to Dwayne Johnson, Black Unicorn and
the Rabbi All Black thought everything was changed to inform
to inspire, to impact on w OVU ninety five point
nine FM. We will be right back all right, people,
(39:25):
we're back here with black thought. Everything was changed to inform,
to inspire and to impact on w OVU ninety five
point nine FM. Judy, you you had some follow up
for Dwayne.
Speaker 4 (39:40):
Yes, we talked a little bit about trends and what's
going on in the market right now. Several percent for
ABR rate on the loan is pretty average. What other
trends are occurring right now that we're kind of unexpected.
Speaker 6 (39:53):
Well in the middle market, a lot of private lending
that has come do or a lot of commercial institutions
and organizations. At the same time, rates are being suppressed
and they are actually stabilizing. Most people think, and I
(40:14):
think so as well, that that has a lot to
do with the new inventory that's coming onto the market
with new construction. People able to move to their next
house or to sell up, if you may. So there's
a lot of things like that happening. But we're also
(40:36):
seeing some lending terms relax a little bit, I guess
you would say, as far as on the commercial side
and investment side being able to cash out refive vacant
properties or purchasing vacant properties with fixing flips. Some of
(41:00):
that stuff is getting a little bit more lax and
most of the qualifications are dependent on property itself. But
banks they still don't like mixed use properties and stuff
like that. But there's lenders that are more open to
doing them now.
Speaker 5 (41:19):
So far our listeners, what does mix use me?
Speaker 6 (41:22):
Mixed use would be like say you had a two
storefront building and then upstairs it had like four apartments.
Speaker 3 (41:29):
Okay, all right, I like that.
Speaker 1 (41:32):
I actually.
Speaker 4 (41:35):
Yeah, I was like, that's not cond do so for
this situation right now. So when it comes to the future,
because you've been in the game a while, now, what
do you see happening transpiring, especially for Cleveland's housing market, I.
Speaker 6 (41:52):
See it already happening now. So there is on the
bright side for our community. Uh, there is a community
that Equity CMG is actually a part of, and that
is the Harmony District over in Glenville that is taking
place now. There's also some development on the east side
(42:15):
Lee and Harvard it's supposed to be taking place, and
there's a lot that's happening within midtown as well. So
I do think that Cleveland is a place to invest,
and it's a firm to me every day because of
how many foreign investors I deal with.
Speaker 4 (42:30):
That was my next question. How you feel about all
these foreigners? And I'm not talking about people that's international.
I mean, I'm talking about people out of state.
Speaker 6 (42:40):
They're both happening though.
Speaker 2 (42:42):
It's like Ward four, Ward four before the new boundaries,
all right, Ward four was forty percent of Ward four
was owned by Sweden.
Speaker 5 (42:52):
All right, So that that that kind of thing.
Speaker 3 (42:54):
So how do you Yeah, the.
Speaker 6 (42:56):
Majority of Atlanta is owned by a couple of corporations,
and we don't think about that. That's Atlanta. We don't
want that to happen here. Yeah, no, we don't.
Speaker 4 (43:05):
So as a black you identify black, I do, Okay,
So as a black loan officer, how do you feel
about that? I'm asking your personal feelings. Now we're getting intimate.
Speaker 6 (43:22):
All right, my personal feelings. My personal feelings is that
it's good and bad. There's a lot of housing and
there's a lot of dilapidated buildings. There's a lot of
vacant properties that are being renovated and repaired and are
(43:45):
serving our neighborhoods now, and I believe that is a
great thing and we need that because it cuts down
on crime, it cuts down on a lot of other things,
right that we know has happened, and then he's abandoned
and vacant properties. The other side of that is that
(44:08):
the person doesn't have any type of heart or loyalty
to that community. If they do not be they're not
involved or have a representative involved in that community. They
don't know what's going on in that community. They may
not even know their neighbors' names in that community, and
nobody knows them or either And it's actually set up
(44:32):
by design for that so that they can say unknown.
So it's hard to find and hit a moving target
if they're not keeping the property up to snuff. So
it's it's six and one hand and a half a
dozen in the other. But I think the solution is
for our community to make a stance and start developing
(44:56):
our own community. And that's not just properties. And hey,
we own property all on the same street. That's also okay.
How do we acquire how do we keep moving the
ball forward? How do we acquire more? How do we
provide properties for our own businesses to open up so
(45:16):
that we're not leasing from you know, so do we
keep our money in the community. And that's the way
that we can grow, I believe.
Speaker 1 (45:23):
Thank you, Thank you.
Speaker 4 (45:24):
I told you were get an intimate here on our
way out. I want to hear about what drives your
passion for this work.
Speaker 6 (45:30):
It's funny that you bring that up, Unigt, because I
was going to mention it earlier when you were talking
about your dad. I'm the screw up. You know, I'm
the oldest listen to this black folk. I'm the oldest
grandson on both sides of my family. And I grew
(45:52):
up being the only child of my mother and my father.
Speaker 1 (45:59):
A lot of hope on oh.
Speaker 6 (46:01):
And and and my grandparents believed all of that. So
I inherited the family house. It skipped my father and
my father's generation and it came to me. And you
know what, Uni, I pissed it away. And that's where
the passion comes from, because I know the mistakes that
I made. I know I made the mistakes of renting
(46:23):
the family, I made the mistakes of renting the friends.
I made quite a few different mistakes that I know
now that I won't ever make again, and that I
haven't but yeah, that property is and in my h
and and I could blame my family, I could blame
a lot of people, but because of my relationship with
(46:44):
my grandfather, I take on that responsibility and we're gonna
fix it.
Speaker 4 (46:49):
Do you ever circle around on the market see if
it's on the market, just just to see and if.
Speaker 1 (46:54):
It was, would you buy it?
Speaker 3 (46:55):
Yeah?
Speaker 6 (46:55):
I'm waiting for it to you.
Speaker 3 (46:56):
You are?
Speaker 1 (46:57):
I feel like that about my home to.
Speaker 6 (46:59):
Ye, and I would. And all of those dreams that
I was thinking of when I was staying in the
property right myself, and it was my primary dwelling before
I started renting it is to buy all little lots
up around it and the smack dab in the opportunity zone.
Speaker 4 (47:17):
Is it you have the rest of your family all
in on one street or is it?
Speaker 2 (47:23):
No?
Speaker 6 (47:23):
It would just be me reinvesting back into that community.
Speaker 1 (47:26):
I love that. I love that you got anything else?
Speaker 6 (47:29):
On the way out?
Speaker 3 (47:29):
Uh?
Speaker 2 (47:30):
Well, on the way I'll don't forget that. We're having
the Foreign Missions Board a meeting tonight at seven o'clock
at Second Eveliza Baptist Church uh uh two from six
to seven will be the meet and greet at eight
(47:52):
Uh eighteen eighty one East seventy first Street, the president
brother brother Uh, doctor Boise kimber Of the President of
the National Baptist Convention USA, will be the guest speaker.
Good another good o'mega man. All right, and so folks,
let's come. You know forty seven is cutting off foreign
(48:13):
aid and it's really going to impact Africa, and I
think one of our central focuses is going to be Africa.
So let's come out and be supportive. And with that, Dwayne,
we appreciate you coming and being with us.
Speaker 4 (48:28):
Yes, can you give one last invite to your next
networking event happening on the twenty seventh of May.
Speaker 6 (48:34):
Yes, May twenty seventh, play Bar and Grill six pm
to nine pm. And my guests this month will be myself, SHAWNA. Stevens,
who is a area realtor, and also Carrie Howard, my
brother man chapter Man, who is the CEO and president
(48:58):
of green Bridge Consulting.
Speaker 4 (49:00):
And it's free and you know how we love that
for a better word free fr ee. So look, they
are not even charging for this crazy information I can
literally life changing information, Like they're not charging for you
to just come and network and ask questions. This is
all free again. That's May twenty seventh, six to nine pm.
Speaker 6 (49:23):
At where again, play barn, grill.
Speaker 1 (49:26):
Play bar and grill.
Speaker 6 (49:27):
All welcome the old Najo. Six to nine.
Speaker 2 (49:32):
Yes.
Speaker 4 (49:33):
Yeah.
Speaker 1 (49:33):
Is there a minimum age to attend?
Speaker 6 (49:35):
Oh yeah, because we are in a bar, so you
gotta be twenty one.
Speaker 1 (49:38):
Okay, got you, gotcha?
Speaker 2 (49:40):
All right, people, and Rabbi is retiring as pastor of
the Heritage Community Baptist Church on Saturday evening six o'clock
at the Mediterranean Room. If you need tickets, called missus
Goldstein area code two one six seven eight nine seven
five eight four again two one six seven seven five
(50:01):
eight four. Ah, well, unally, that kind of wraps it up.
I will drink from my part of the river and
no one shall keep me from it until next time.
This is the Rabbi along with the black unicorn saying
Shalom Haabbah.
Speaker 1 (50:20):
This is Wovu Studios.
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