Epic Real Estate Investing - Getting Your First Flip AND Income Property Under Your Belt First | 1170

Episode Date: November 27, 2021

In today’s show, Mercedes returns! She will walk you through the steps of one of her newbie clients requiring their first cash-flowing property! However, before we jump into the Turnkey portion of this week’s podcast, you will hear the interview Matt did with Ivy Morales, a new private REI Ace client. Tune in and find out how Ivy found motivated sellers for her first two deals without spending a dime on marketing! BUT THAT’S NOT ALL! You will hear the latest in the news and crypto updates that bring us together and set modern ideas on creating wealth!    Let’s go! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. In today's show, Mercedes returns. For that matter, we both return. We took a little bit of a break, but we are back with your favorite epic real estate investing show. And Mercedes is going to walk you through the steps of one of her first timer clients to acquiring their first cash flowing property.

Congrats to them. But first, I invited a new private RIA's client to join me as I wanted to put the spotlight on her for a moment as she recently closed her first two deals and she didn't spend a dime on marketing either. Can you guess how she found her motivated sellers? Well, it's right in front of your nose. It's right in front of all of our noses.

But most people, they just underestimate this resource. Or they just give up way too early. But it works. And it always works. It works every time as long as you work it. You ready? Let's go. Welcome to the all-new epic real estate investing show.

The longest running real estate investing podcast on the interwebs, your source for how to, marketing updates, creative investing strategies, and everything else you need to retire early. Some audio may be pulled from our weekly videos and may require visual support. To get the full premium experience, check out Epic Real Estate's YouTube channel, Epicurei.tv. If you want to make money in real estate, sit tight and stay tuned. If you want to go far, share this with a friend. If you want to go fast, go to reiase.com.

Here's Matt. All righty, on the phone, I'm joined by a newer private ARIA ace client to share with you and I how she just closed her first two deals and how she's ready for more. But more importantly, how you be able to copy what she did. Essentially just rip off her process and duplicate it in your own market. From coast to coast, epic investors are doing the most. It's time for another epic field report. So please help me welcome to the show. Ms. Ivy Morales,

Ivy, welcome to the epic real estate investing show. Thank you. Thank you for having me. Very good. You're doing good. What market are you in? Houston, Texas. You're in Houston, Texas.

Okay. Very good. So, you know what, Josh, my assistant coach over here for the RIAs program, he sent me a little boxer saying that you're having some big wins, and I want to talk about those. But first, you know, when you first started to work with Epic, or just before you started to work with Epic, what was going on in your world and what problem were you trying to solve? Well, prior to Epic, I was pretty much reinventing myself. Tell you the truth.

I'm going through, I didn't tell anyone, but I was going through some challenges, life challenges. And then I was reinventing myself. And I went to your meeting and then I liked what I heard. and then from there we just moved on. So you liked the meeting. What did you see for yourself? And what type of impact would that have had on you professionally? Well, when I was at the meeting,

I liked that it was very detailed. And I liked that you had a team that I was given instruction that you were going to have someone that was going to be able to guide me. And that's what actually sold me. Because that I knew that I would be able to do the, research and studying, but when it came to having that extra support, the mentorship, and the coaching, to me, that was essential.

That was key. Awesome. So were you looking to supplement your income or was this going to be a full-time day gig for you now? Well, since I was trying to reinvent myself at the moment, I had just gotten certified as a mortgage loan officer and I was changing. I was going from car sales and because of the COVID and how tar sales is right now. I went ahead and I got certified under the mortgage loan officer,

but I had never done anything on the mortgage end. I just felt like that was something I would like. I got certified and then when I went into your meeting, I had in the back of my mind that I was going to just work in the mortgage industry. But then once I went to the meeting and I started reading everything and it appealed to me to be able to do the problem solving. You know? And I liked that. So then that's what.

And then I made the commitment that it was going to be a full-time job. Right. So yes, I have dedicated to a full-time. Very good. Awesome. So, you know, you said you're going through some stuff. personally and you don't have to share that. But what would this have meant for you personally as you're reinventing yourself and to

become a full-time real estate investor? Pretty much is just to be able to be available for my daughter. Because I mean, right now, yeah. So that's pretty much it. Yeah, family, right? That's why we do what we do. Family, yes. For sure.

Yes, absolutely. So share with me your wins. I don't have a lot of details. Josh just said you were crushing it. So share with me your wins since you've started the program. What's going on? Well, since I started the program after the summit, I went online and I took your legends training. Oh, the Legends challenge.

The Marketing. Mm-hmm. Yeah, the Legends Challenge. So I did the, I think you have on the Legends Challenge, like a 10-day challenge or something like that. Right. So I took that challenge like seriously. I challenged myself. I started going out.

I think I saw two properties prior to my first contract. So I was there. I remember, like, I read that contract, like, I think about 20 times. But when the moment came to actually sign the contract, like, fill it out, I could not understand anything, like, where to sign or anything. So I had to call Josh. And then Judge was like, we had not been introduced. So Josh walked me through it, though. He was like, okay, okay, calm down.

I'm going to walk you through it. We're going to do it. And then, yeah, he walked me through the contract. I had already negotiated everything, but I just didn't know how to fill that contract out. So that was my first deal. And then right after that, then my second deal, which is, I think is the one that he's like most proud of, my second win. And that has to do with, I have been doing the quick list because of the legends. I did exactly how you did with the wording,

even try to do very similar, your graphics, everything. And then I went ahead and I've been doing every morning, we put those four, five, we just constantly.

And that first deal came from Craigs. And that second deal, even though I do call, call and everything, it also came from Craiglist. And this was an inexperienced whole seller with no coaching. And then I laugh because, you know, sometimes you think it's not worth to spend that

extra money on coaching, but it is worth so much, you know? And he didn't have anyone, you know, like he didn't have anyone to guide him. So he just went ahead and he came to me with a contract. And I think it was like $85, $85,000, $85,000. $15,000 earnest money, right? And he's like, oh, I have this contract and I don't know what to do with it, but I want to sell it. And I say, well, how much do you want for it? And he's like, I don't know.

I want everybody to be happy. And I was like, wait a minute. So I started looking at everything, the address, everything. And I said, well, this address and I mean, this purchase was done back in July for 183,000 and you're selling it to me for 85. So it just didn't make sense, you know? So at that moment, I did, I was quick. I did tell him, I said, look, I don't purchase renovated properties.

Okay. But what I can do is co- wholesale with you because I can help you out that way. And that's the moment when I told him, I said, let me go ahead and talk to the seller if that's okay with you because I'm not quite understanding why this property is so discounted. Right. So I was able to talk to the seller. He needed to get rid of this particular unit fast because he has many properties. He needed to get rid of it because he needed money for a wedding. His daughter's wedding. So he was like, look, I just, you know, my wife is upset at me for this, but this is what I want to do. I want to get rid of this particular unit.

And I went ahead and I worked it with him where we agreed to a price of 110. So we both would win, right? So he wanted 10,000 at first. He ended up with 12, 500. And then we were like, okay, I'm 110, 50, 50. And then when I went to send him the contract, this is a totally different contract, Matt, I do not know how to fill this contract either. So I reached out to Josh. Again, I was like, Josh, I have another contract that I don't know, but I already agreed to terms and I need to fill it out. And that's the moment when Josh was like, he started giving me different strategies like three or four. And then one of them, it was this one particular strategy that just clicked. Okay.

So then I went ahead and put him under a contract, the wholesaler. So I would acquire the house at the price that we had agreed. And then I turned around and I sold the contract for 120. Nice. So, yeah. So that's why he's so proud of me because in that one deal, I was able to make the 22,500. Right. Yeah, and no money.

It's a miracle, huh? Yeah. I know I can't believe this stuff. It continues to work and I'm just scratching my head and I don't know how it does. I know, right? It's like, how did this happen? And it is happening. Let's back up for a second.

Okay, so on both of these deals, you took the Legends Challenge that's inside of Epic and Best Ed. And then one of the strategies of the very many is the Craigslist strategy. Yes. What was it about that one that appealed to you? I felt like it was, it was, first of all, I didn't have to use any money on it. Right. And second of all, I felt like it was easy for me to, to post them. Even though they would get flagged, I mean, I was just being consistent because you were like, okay, they're going to flag them, but just be consistent.

And I had that expectation going in already. Very good. So, yeah, so I was just consistent. That's what appealed to me. Super. I mean, I've done the other ones, too, with the yellow cards and everything, but that one, I mean, that one has been working for those people. Yeah, I mean, they all work.

It's just the one that you're actually going to work consistent with. So that makes total sense. So you just took the, I have all the templates in there. So you just copy and pasted those and put them in and created your own little images and did that whole thing. yes the exact way like I didn't change except for my phone number my name yeah that's it and then the images I made them exactly like yours but just you know of course I cannot have them the very same but I just the same thing yeah awesome with my name on it perfect yeah so

we'll talk a little bit more about this second deal but what happened on the first deal on my first So that was a house that was a divorced seller. And he just didn't want anything to do with the house. What he did was he was selling the house. He didn't even know how much he wanted to sell his house for. So he just gave me a number. Like he purchased it for 28. He was selling it for 20.

And then when I went in there, yeah, I got it for like 16. Okay. Yeah, I negotiated it down. Yeah. All right. So you placed the ad and he called your ad. Is what happened? Yes.

Okay, perfect. So he bought it for 28. He was asking 20. You got it for 16. And that's what you got it under contract for, right? Yes. Very good. And then what did you do with it?

And then I tried to fix it and hold it. And then, but I had the week that that particularly, deal was, Matt, he was like super desperate to get the money and it was my first deal. So I didn't understand exactly, you know, like I took word by word what he was saying. So I needed to make sure that I had a word for him or money for him by the 14th day. So I took the first deal that came by. I sold that contract for like $6,000. You bought it for $16.

You sold it for six? Yeah. Why did you do that? I know. It was just, it was weird how that deal went. I didn't know that the wholesale fees could get negotiated. I bought it for 16. And then when I sold it, I sold it for 20 something, 22.

So that was five. So you made $6,000 profit. Yes. Oh, I thought you said you sold it for $6,000. You took a $10,000. No, no, no, no, no. Oh, I. I was like, oh, my goodness.

I made a profit. Why didn't you call me? Okay, good. All right. No, no, no. No, no, no. I felt like that was a win too because that was a win. Because I had everything by the day that he wanted to know.

And that to me was fulfilling. Yeah, that was to me was everything. All right, super. So you resold both of these properties. Did you find the buyers in the same way? How did you find the buyers? Well, believe it or not, Craiglist. Get out of here.

Yes, Craiglist. Because of my ads on Craigs, people contact me constantly. And they would be like, I'm a buyer. I want to buy. Do you have anything in inventory? Are you a wholesaler? What do you have? And then I started creating my list of buyers off of those particular ads.

I have my list of wholesalers and I have a spreadsheet with the wholesalers. I also have a spreadsheet with the buyers. And I have all of those age back people, painters, all of them that keep on contact me. Like, okay, I works with exclusively with investors to do this and that. So I've been collecting all those names off of my Craigslist ads. I mean, I think that even now that I'm moving towards, you know, where I'm going to be purchasing marketing, you know, spending more money towards marketing. I'm still going to be putting my credit. It's working.

Yeah. Yeah. Okay. Well, great. So you made $22,500 on the first one. You made $6,000 on the first one. So that's $28,500 just from working. free Craigslist ads.

Yes. That's awesome. Literally. Here's the other thing that I noticed that I would love to just point out because I get asked quite a bit from my students about this and I tell them and I just love it when students follow direction. So good job. I'm really proud of you.

But when people start working the Craigslist process that we have here, you know, they'll say that, oh, my ads can keep getting flagged. I said, I told you they were going to get flagged up front. Just keep doing it. keep doing it and that you did. And then the other thing that comes when the people that stick with it and with this strategy is they say, you know what, there's a lot of buyers calling me. There's a lot of wholesalers calling me.

I'm not getting a whole lot of sellers calling me. And I was like, that's okay. You take them all down. You take note and you put them in your CRM and they're going to come in handy because every buyer is a seller. Every seller is a buyer at some point. And so you put that together as well. Yeah.

I was able to do that because of my coaches, though. Because my coaches, I keep on going to the one o'clock meetings and I tell them, okay, I'm experiencing this. I'm experiencing that. And they're able to guide me like, okay, this is what you do with this information. This is what you do with that other information. And they have been guiding me. That's great. Throughout the whole process.

So you're going to the Monday through Friday daily office hours that we have. Yes. I go through every. I go through every meeting, even if it's for 20 minutes, 30 minutes, whatever I have time for, I sit there either to listen to whatever anyone else is experiencing, but also because I'm able to go ahead and ask a question or two about whatever I'm experiencing at the moment, and they are able to guide me. They're like really, like, when I was having the very same experience that you just

said about your students that they're oh i'm having a lot of wholesalers i'm having a lot of buyers you know i had one of my coaches to be like hey put it on their spreadsheet i think that was parker he was like put it on their spreadsheet because you're going to need that information you know you're going to have to go ahead and i was able to do that then i have you know a lot of times on sometimes i may just be you know marketing or receiving phone calls and and then all of the sudden, you know, I have coaching with Bryce for 20 minutes and he's like, okay, so what are, were your plans for next week or what are your plans? Because he's on Fridays, right? So he's like, what are your plans for next week? And like, you know, what are your goals and blah, blah,

and we just set up a plan. And I'm like, okay, I'm going to make two offers. I'm going to make four offers this week. And, you know, and I make the effort. So they've been really guiding me. Oh, that's fantastic. That's great to hear. It's great feedback. So up to this point after these two deals, what have you found? What do you think has been your most valuable lesson or lessons? What have you learned? Oh, my gosh.

Really? Everything. Like, everything is new. Everything. You have no idea. This is a whole new world. But I love it. Like, I've been reading different books and going through.

through all your trainings and creative financing and, you know, all of that. So everything is, it's been most surprising. I'm going to be, I think most surprising would be Craigs. Okay. Craigs because, you know, because I never, I never thought, you know, that Craigslist would work that well. Mm-hmm. That's awesome.

I mean, yeah, I never thought that. Craigless would work that well. I mean, like, I just saw a house yesterday that came from Craiglist, you know? And he was, he was trying to get retail price and, you know, but it was, it, the house is, according to him is going to be done by next week. So I'm going to circle back around next week to see if it's true, you know? Right. For sure.

That's good. Craigslist was one of the places where I used that a lot in the beginning, because. I didn't have a whole lot of dollars to market. And I didn't even know how to market at the time. I didn't even know you could send out postcards and stuff when I got started. And I got so many deals off of Craigslist by just being really consistent with it. And then once I had all of those relationships and you're starting to build those relationships now as well, there was a lot less Craigslist work for me to do.

And I was doing a lot of deals based on the relationship that I had created. Like it was like, oh my gosh, this is where I kind of clicked. Oh my God, this is just a people business. And Craigslist is just a place that you can go. and interact with people. And some of those relationships would be not so good and others will be great. And those are the ones you want to stay in touch with. And there was probably five or six, maybe even seven years or so that I didn't really

work Craigslist. But I kept on teaching it. I kept on showing people how to do it. And I kept on getting a lot of like the feedback was, oh, it doesn't work and no one's calling and da-da-da-da. And I just heard all this stuff. And I was like, well, so when I moved to Vegas here about two and a half years ago, I was like, okay, well, good.

I live in a place now where I'm really going to, I can potentially cash flow some properties here because, you know, I'm a cash flow investor. And that's why I didn't do so much in Los Angeles market. And I was like, let me just put Craigslist to the test. If I'm going to keep teaching this in any good conscience, let me just see if it actually does work. And so I just implemented exactly what I showed you how to do. And it's like, sure enough, the phone was started ringing and we put deals together

and it was fine. I was like, yeah, this thing still works. What are all those people talking about? So I'm really glad that you did it just to confirm that it does. And it's not really the website. It's, you know, if you keep in mind that it is a people business, all you need to do is interact with people that want to buy and sell real estate. It doesn't matter where it happens.

It just happens to be there's a lot of eyeball on Craig List and there's a lot of people there. So your possibilities of making those connections are greater. But super. Thank you for doing that. I mean, thanks for following the work. And I'm really glad about your results. And, you know, so what do you see from now in this point going forward?

Well, I mean, I'm going to continue. I'm going to be spending more on marketing, of course, that's essential. And then from there, I'm going to be doing more deals. Yeah, this is it. Do more deal. I love it. And then I tell everybody, I'm a problem solver. I mean, I solve real estate problems.

That's what I do. You do. You saw it for buyers and sellers. Yeah, for buyers and sellers. And I'm like, and whenever they're like, no, nothing is wrong with nothing is wrong. I was like, okay, well, I'm going to tell you, you just came, you contacted me and I solve real estate problems. So what's your problem? Right.

There has to be something on this. Why are you contacting me? Why are you not bringing out to a realtor that can get your retail price? Right, right. And then that's- I can see you're watching. Yes, I'm watching the education, the fat education. Why are you calling me then?

Why are you calling me then? Great question, for sure. Awesome. So can you finish this sentence for me? I almost didn't work with Epic because. I was a freshman. that, you know, since I was going through the challenges, I wouldn't have like my credit or enough money or things like that starting out. Right.

Yeah. And that was the credit and the money and the challenges that you were going through. Yeah, because of the challenges. Got it. Got it. So for anyone that was considering working with Epic, what would you tell them? What would your advice be? I would say commit.

Mm-hmm. You know, commit to learning and follow instruction. and take advantage of everything that's being offered because it does. It works. Right. Yes. That's great. Well, thank you, Ivy.

Thanks for taking time out of your day to share your wins and your story with us. I really appreciate it. And of course, if you need anything, you know how to get in touch with us. Yes, absolutely. And I hope that this motivates somebody out there. You know, that's the only reason I did this. And, yeah, I was super nervous, but I hope this, you know, motivates someone. I can't see wild.

Right. Okay, great. Right. Super. I'm sure it will. Thank you very much. You have a nice day. You're welcome.

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so they can take their foot off the gas a bit and enjoy the good life. Let's raise our hands, unless you're driving, of course, for the turnkey girl, Mercedes-Torres. Hello and welcome, welcome to Turnkey Tuesdays brought to you by Epic Real Estate Investing. My name is Mercedes-Torres, your turnkey girl, and I help busy professionals acquire passive income through real estate investing so you don't have to work so hard and maybe even retire sooner. So I created this show to share tips, advice, and real life, real estate experiences so that you two can create passive income in your world. That said, if this is your first time here, glad you made it, make yourself at home. If this is not your first time here, welcome back.

Well, I'd have to start by welcoming myself back. As for the last few months, I've been missing in action. And of course, you did not let me forget it. I got your emails. I got your phone calls in the office, got your Facebook messages, and I get it. And I thank you. I missed you too. But I did take a little hiatus.

And it started off during the summer for summer vacation. My son was off of school. So I decided to take a few weeks that turned into months. And those months turned into a little bit more time off. And then I was ready to come back when he went back to school. But then I realized that there was a bit of a lack of inventory in our markets, specifically cash flowing inventory. So I needed to dive into why there was such a lack of inventory,

considering we're living in unprecedented times for real estate. And I wanted to take a moment just to explain why there's such a lack of inventory. And it's partly because of the eviction moratoriums that transpired during the pandemic. Now, you are probably thinking, well, Mercedes, the eviction moratorium has been lifted. And you're correct. Eviction moratoriums have been lifted. lifted across most markets throughout the United States. But what's happened is it's created a ripple effect. Now, the mandate has lifted in that, yes, now if you did not pay your rent, we are able to evict. But because of the moratorium,

the lack of us filing for evictions has caused the courts to back up even. immensely. So although we can technically evict, it is now taking anywhere from six to nine months to to physically displace an individual that we have a court order to evict. Now, it is a trickling effect in that first we have to file the eviction, then it has to go to court, and then the court has to then stipulate that we can evict, but all of this is backlogged for months. And in some counties, and I will refrain from naming the counties, but some counties only have a total of three eviction officers, three, one, two, three, to evict an entire zip code of properties. Now, as you can imagine, because some people took advantage of the eviction moratorium,

the backlog of displacing those people homes is taking a little bit longer than what we would like. So what that is doing is that is causing a ripple effect for the investors who are attempting to buy the properties of the eviction. tenants. So as you know, as an investor, I will not buy a non-performing asset. So I will not buy a property that has a non-paying tenant. So I have to wait for that tenant to be evicted before I will choose to buy that property. Hence, the delay and inventory. Now, although we are getting the inventory trickling in, we are now having the effect of just material being available for our rehabs.

I'm sure you know what's going on in the world and that there is a backlog, a massive backlog, of building material, of glass, of wood, even appliances. I mean, if you go to your local Best Buy and try to buy a refrigerator or a washer and dryer, I have heard of a slight back order of two months, three months. I am now experiencing a back order of eight months. So naturally this is putting a delay.

Of course, we always try to find a different avenues. So we're now getting into refurbished dishwashers or refurbished refrigerators, appliances, etc. But the reality is the backlog and lack of inventory has been trickling down due to what happened during the time of our pandemic. So now that we are getting back up on our feet, and one of the reasons it took me just a little bit to get back is because I went on search mode. I went and I made additional connections in our market,

not only for supplies, but for my teams, my property management teams, my acquisition teams. So lack of inventory is no longer, a problem. It's a little bit delayed, but not a problem. So for those of you who have been waiting on the sidelines, just kind of waiting to see what's happening in the world of buying and holding properties, now it's time to get started. Get in the cash flow game. Get into the queue. And if you're ready to get into the cash flow savvy queue, go to cashflow savvy.com. Scroll all the way down and hop into our queue. You can download the frustrated investors guide to passive income. It'll show you all the details of how to jump into the

queue, how I source properties, all of that fun stuff. And when you hop in on that side, I welcome your call for us to connect to see how I can get you started with your cash flowing properties. So let's move on. I want to share a very important question that I received from a young lady named Madeline. Madeline has a special place in my heart. She reached out to me. She is a first-time home buyer. Madeline is 21 years old and she started her own babysitting business. Yes, a babysitting business. In fact, she is my babysitter supplier. Madeline is a graduate of the same school that my son attends. And several years ago, while she was still in high school, she created a business and provided babysitting services to the parents of the school that she

attended. Now, her service is exclusive only to the students of our school. But Madeline does an amazing job at just vetting out other students from the same school that are graduates now. There are often college. They're working their own gigs. And she created this little part-time business. And let me just tell you, Madeline does really, really well. She's provided me with three babysitters that have been phenomenal. And they, of course, help me when I'm doing live events or when I'm traveling. They provide services by picking up Mateo from school, taking them home, taking them to hockey, all of that fun stuff. Anyway, so Madeline has a special place. in my heart and Madeline reached out to me and she said, hey Mercedes, I know you're in real estate

and I have a little bit of money to get started. I'm interested in getting my license, but I want to buy my own property so that I can live with it. I think that Madeline still lives at home with mom and dad. So she sends me a link and she asked me, should I buy this condo? Now, mind you, I get that stuff all the time, but considering Madeline was a little bit of a special individual my world. I said, let me dive into the numbers for her. So she sent me a condo, and this condo is in Las Vegas, Nevada. The condo was for sale, or is for sale, for $203,000. It's a one bedroom, one bath, 856 square feet. Now, I love the idea that Madeline is 21 years old. She wants to dive into her own property, she doesn't want to pay rent. I'm not a huge fan of condominiums, but that's just me.

So then I broke it down and I said, listen, Madeline, with a first-time home buyer, you can come in with a 3% down payment, which is roughly $6,090 plus closing costs, which would be no more than $1,000. So the longer the short of it, I broke it down for her at a 30-year fixed at a rate of 3.5%, her mortgage payment would roughly be about $1,267 a month. Now, the reality is here in Vegas, a one-bedroom, one-bath property to rent is roughly about $1,300 a month. So in theory, this would not be a bad investment for Madeline, considering she's only 21 years old and she hasn't bought a property for herself. Fast forward to, got on the phone with Madeline and said, have you considered buying a three-bedroom property and renting out two of the rooms? So I found a property for her. A single-family residence, three-bedroom, two baths in the ballpark same vicinity she was looking for for $280,000.

Again, I broke down the numbers. With a 3% down payment, Madeline would have to come in out-of-pocket with $8,400 plus closing costs, roughly about $1,000 in this case. So for $9,500, mind you, Madeline can be the owner of a three-bedroom, two-bathed single-family residence, 1,400 square feet two-car garage. The monthly payment of that property would be a total of $1,750 a month. Now, if Madeline rented each room out for $8,000,000,000.000 a month. for $800 a month. That's two rooms because she's occupying the third. She would be collecting $1,600 a month for each of the room or combined.

If she split the utilities, Madeline would be paying $150 for her own property. She would gain the equity, the appreciation, the $150,000. the tax deduction, the works. And her tenants, aka roommates, would be paying a steal of $800 a month per room to live in this beautiful three-bedroom, two-bath house. Now, Madeline would gain the benefits of absolutely everything, and she basically will be living almost rent-free.

Now, of course, Madeline is 21 years old, so roommates are not unusual at this stage in her life. But the reality is, numbers don't lie. So, would you prefer to buy a one-bedroom, one-bath condo as your first-time home buyer property, spending $203,000 and paying $1,200 a month, or would it be better to buy a three-bedroom, two-bath single-family residence for $2,000, only paying $150 a month because your roommates would be making the mortgage payment for you? That, my friend, is food for thought.

Now, the reason Matt and I do episodes like this is because we're so passionate about educating the world and helping with financial freedom. So I put this episode together to give you food for thought. What would you prefer to do if you had the opportunity to put down 3% for your first-time homebuyer deal? That's it for today, my friend. I will see you on next week's episode of Turnkey Tuesday where cash flow is king. We'll be back with more right after this. Canada can be a global leader in reducing the harm caused by smoking, but it requires actionable steps. Now is the time to modernize Canadian laws so that adult smokers have

information and access to better alternatives. By doing so, we can create lasting change. If you don't smoke, don't start. If you smoke, quit. If you don't quit, change. Visit unsmoked.ca. Mainstream media is ripping us apart. This is news to bring us together and make some money in the process. Century 21 president and CEO Michael Meadler argued on Monday that the real estate market is not ready to taper right now and will continue to move in a fast direction amid pent-up demand. Meadler told mornings with Maria on Fox News that the market is still currently high,

because a lot of buyers are trying to rush in and beat any more increases in the mortgage rate. He made the comments on the show shortly before it was revealed that existing home sales rose 0.8% in October from the month before to a seasonally adjusted annual rate of 6.34 million, marking two straight months of growth, according to the National Association of Realtors. After it was announced that Jerome Powell will maintain his position as chairman of the Fed, Mortgage rates began the new week on a bad note with the average lender fully erasing the improvement scene on Friday. This leaves many lenders at their highest levels since April, but in those cases, it should be noted that today's rates are extremely close to those seen in late October. In other words, we're essentially back in line with the highest levels in more than seven months.

Freddie Mac reported that the single family serious delinquency rate in October was 1.32% down from 1.46% in September. Freddie's rate is down year over year from 2.89% in October 2020. And Popeyes opened its first location in Britain over the weekend, and Londoners lined up for hours to taste that iconic fried chicken. I can totally relate. It's my favorite fast food restaurant. Not so much for Mercedes, but I'm working on it. It's not a passing fad.

It's the future of money. What happened this week in cryptocurrency? The CEO of Micro Strategy Michael Saylor says that Bitcoin will emerge as a $100 trillion asset class and will grow 100x from where it is today. It's pretty clear that Bitcoin is winning, gold is losing, and it's going to continue. It's pretty clear digital gold is going to replace gold this decade, he says. And macro guru Raul Paul in a new interview recently also says he expects the total crypto market to rise 100. in the coming years on the back of exponential adoption. Crypto is the fastest growing adoption in any technology in all recorded history.

We're going to go from 150 million users to a billion users in three and a half years. It is going from $2 trillion to $200 trillion as an asset class probably in 10 years, he says. And Rams player, Odell Beckham Jr. will accept his NFL salary in Bitcoin. Odell Beckham Jr., the new wide receiver for the Los Angeles Rams, has said, he will be taking all of his $4.25 million national football league salary in Bitcoin. Beckham has joined a growing list of athletes opting for the same, such as New York Giants running back, Sequoan Barkley, Cade Cunningham of the Detroit Pistons,

and the Green Bay Packers very own Aaron Rogers. And U.S. blockchain company, Ripple, is making good progress in its efforts to resolve its legal conflict with the U.S. Securities and Exchange Commission, hoping to end this case in 2022, according to the chief executive, Brad Garlinghouse, CEO of Ripple, said that the legal case, which is centered on the firm's XRP token, is moving slowly forward, although towards a potentially favorable outcome. And that wraps up the epic show. And if you found this episode valuable, who else do you know that might too?

There's a really good chance that you do know someone else who would. And when their name comes to mind, please share it with them and ask them to click the subscribe button when they get here and I'll take great care of them. All righty, God loves you. And so do I, health, peace, blessings, and success to you. I'm Matt Terrio, living the drink. Yeah, yeah, we got the cash flow. You didn't know home for us, we got the cash flow.

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