Matthew Cox | Inside True Crime Podcast - FBI's Most Wanted Con Man Steals $30M | The Condo King

Episode Date: January 18, 2025

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When you start getting paid, one group of people leave the room and a whole new usher in. That shit is superficial as f***, and you love it. Aesling across a check, $525,000. For only thing was going through my mind was, how much of this can I do? She opened up the door to the pound. It's like the sky opened up. Within 36 months, I would be in. prison sitting across from you in the child wall.

I was born in Brooklyn, New York, parents, Jamaicans, grew up in the 80s, man, where shit was crazy in the 80s in Brooklyn. This was, you know, the funny thing about growing up in the 80s, I tell me this all the time, where people kind of say, oh, where we are, you have to have a mean fight game, and you have to be able to fight and kick some ass, blah, blah, this is a shooting, no, it's true. Okay, it's true. The bullying shit, they talk about. about bullying. The bullying that they were doing in the 80s, I mean, today, I mean,

motherfuckers are still traumatized from that shit. You know what I mean? I mean, you had to literally come out your door and be fighting like 10 fucking people. And I think that that whole logic just completely carried over. It carried over into, I think, I think with me, I think was some of the people, it carried over into that hustler's mindset. You know what I mean? It was always the fight, the continuation of the fight, the continuation of the fight, the continuation of the push and just constantly having that, you know, I think people become emboldened, the more you go, the more you go, and the more you go. So at least to business, to hustling.

And then if you don't watch it, you know, you can end up into criminal activity, which is a whole another dichotomy. Your mom was in real estate, wouldn't she? So my dad was a real estate broker. Oh, okay. My dad was a real estate broker. Good memory, Matt. Good memory, damn, man.

I'm flattered that you remember that. Damn, thank you, man. I didn't matter about your office. Oh, no, no, no, very close. My mother was a banker. So my mother was, she had a master's green finance. She was a banker with Chase. And my father, and she was actually did trust and did management for large accounts. And my father, though, was a real estate broker.

And he would buy property. She would buy housing. That was my introduction in the real estate. I remember being a little kid. And that's close to my father, always. I still am close to my father. And I remember, you know, just driving around my father, up and down, Brooklyn. This is like early 80s.

and me sitting here and him driving through was, miss, miss, miss, miss, miss, miss, how much would you like for that house? How much would you like for that? I'll give you 100,000. I'll give you $200,000. I mean, he didn't have the money, but you know, this shit felt great.

So that was my introduction into, getting into real estate. My father was a real estate broker. So, but ironically, though, we did make a big push in real estate when I was about 21 years old. When I was 21 years old, I had, came down in Atlanta. I had never done anything in real estate

I didn't even like real estate my father because you know he was always waiting on a closing I never understood that shit like how are you always being on a closing we're going to get this closing was like Christmas time you know what I'm saying it was like we got a closing coming up next month

we got a closing but for right now we're broke right but we got the closing coming up you know what I mean so the thing was was that I never understood it but when I was 21 years old I had come back you know I used to drink a lot I haven't drinks I didn't drink because I was in my twins, but back then I was a bit of a heavy drinker.

And I had come back to Brooklyn from Atlanta, 21 years old, got in a bunch of trouble. And he was starting a real estate rental business out of one of his brownstones. So when I had gone there to, he told me, listen, just help this lady Charmaine out. He had some lady named Sherman. This is in Brooklyn.

He's in the Brownstone, the main floor. He just said, we're running apartments. I'm like, what the fuck? He's running apartments. How do you make money off that? He says, listen, just help Charmaine out. be no problem and uh you know we're going to give you $200 a week and you'll be fine Charmaine was like this uh and what year was this this was like 1990

$1 a week and that was not great no he's hooking me up we mean i was drunk got in trouble in the land i ended back up in brooklyn uh 21 years old and it's like 19 uh maybe 92 or some shit like that and uh yeah yeah sharmine there shaman was gorgeous one of you know some chickie had renting apartments for him. And I sat there. And I never forget, it was one desk. It was a big, you know, they have the shotgun brownstones. He owned the brownstone. And we're sitting there on the main parlor floor. And he said, listen, they help her out. They're going to be running apartments. And I said, fine. He dropped me off there at 7 o'clock in the morning. He said, we're here for us. She's going to show up. Did you know that Dell had a breach that exposed

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data to be leaked to realize you need protection. Do yourself a favor. Go to aura.com slash Matt to get your free trial and start protecting what's yours today. Well, about 745 came and I'm sitting there waiting for her to show up December cold ass New York Day. And she came, she kind of briefly said, listen, just keep up with me, keep up with this process. She'll be fine. She's like 35 years old fine and said, I'm like, oh yeah, I'd love to work with you. No problem at all. Just, well, Drey, That's Trinidadian shit, fine is out. And she said, we opened at 8. I said, okay, five minutes into her telling me this, like 745, going into 750, the bell rings,

she says, let them wait. I said, okay, the 8 o'clock hit, and when 8 o'clock hit, it was, and she said, okay, let them in. So I had to go open these big wood doors and then go to the main door. When I opened the door, there was a line of women. There must have been about maybe 30, 40 women, from the door, down the steps. going down the other side of the steps because you know the Brownstones kind of go up like that just don't mind of women going through and I and just women women of all ages and and someone was fine as how I said so I came back I said okay I came back and I said here's a clipboard is a pen she even like a stack of them she said give everybody a clipboard I ran I gave body a clipboard and these were people they were on social services public access section 8 section 8 public assistance jigids they had our age program called ERP at the time they had a various of a array of these social programs. So I'm giving them the clipboards, giving the clipboards.

I'm standing here. I'm trying to figure out what the hell is going on. Well, long story shut, she'd go through, and as they were filling the papers out, she would be in the newspapers and calling up land boys being the newspapers. And she would be saying, hey, you got an apartment front, you got an apartment front. And they would just give her these apartments. And she would basically just give them these apartments as they came through and just kind of like assigned them an apartment.

Well, I was here just helping out, helping the process through, moving the papers through, saying, can you sit over here? Can you move over here and just kind of moving them through? And she was started, like she started, you know, maybe at eight, and she was done about like 12, 1 o'clock. Well, we had done this a few times during the week. I'm opening the doors, going back, but I kind of watched the process. And one day, I said to her, how do you get paid off of this?

She said, well, I get 15% of the years rent and split it with your father. Well, the average rent was about $1,000 a month. So it's $12,000. 15% of that might have been, I don't know, I'm just going to throw a number. like 1,800 bucks or something like that, and she's put him off all the $900,900. So I said, wait a minute, you're getting $900 from all those people are coming through every day. How many are getting an apartment, though, even if 50% are?

Well, how about this? She was running like an apartment a day and cutting out at like 12 o'clock. Right. That's why she was working for like three hours. She's like making damn near $1,000 and cutting out like, like, she's just cutting out right away. So I said, okay. She said, but you can't do it because you need a real estate license. I said, all right. You have to be a broker. I went to my father and I told my father, said, hey, dad, why don't you let me try a couple? He said, you know, I knew my father. My father loved

me to death. I said, dad, let me just try one or two of these. He said, all right, well, I'll let let's see what you can do. So I'm there working with her. So now I'm working with her. I said, I'll just wait for her to leave. This chick would leave at 12 o'clock. Well, I just kept everyone coming. I just kept calling everyone back in. Shit, the first week, I rented like four or five of them. Then after that, I rented, I just kept the whole process going week after week after week. Then I just turned the whole thing up. So she would be making probably realistically,

at times she did a split maybe three, four thousand weeks. I was making $6,000, $7,000 a week just from running rooms with this program. And it took off so, I mean, it hit so hard from these rentals with these government programs. I started calling my friends down. And I started with my friends. Next thing, you know, we built my father. And the chick got so upset and so offended by the competition. She quit.

She absolutely quit the job. She just said, listen, you have your son going through here. You know, this is your broker. He shouldn't be doing this anyway. And he's creating competition for me. Now she's ethical. Now she has the ethical issues. She looked at my father.

My father looked at it and said, I understand how you feel. and I completely understand your position and good luck to you and she walked out the door and man we blew that thing up and we were running rooms literally I was probably averaging $5,000 a week at 21, 22 and we were absolutely I brought in all of my friends

like maybe five or six of us and we literally were just advertised we were called 0909 because the number was 718-363-0909 so everyone knew us as 0909 and we would have And then the chicks, I mean, you know, the chicks, man, the shit was endless, you know, you know, nothing like, you know, women. It's the only time you stop talking. And then the chicks.

You know, women are subsidized housing. Damn. I know. When you said it was all women, I thought sectioning. Because I've rented sectioning. I've never rented to a guy. Always been winning. Were you getting the commissions off of it to the percentage off the yearly?

We own the house. Oh, are you on the houses. We were just brokering. Yeah. We were just, we were, and they don't brok those brokers do is. They typically get like a percent, I guess 15 percent is they get a percentage of the annual, whatever, is made, you know. Or sometimes they'll get, which is basically, it's basically like the first month's rent, you know, typically. Sometimes they'll get the first month's rent or something, I guess in this case, a little bit more than that.

Well, I think it was a little bit more of that because they were just subsidized housing and it was just kind of, you have to convince the landlord to take, to, well, to take, no, the city was paying the commission. Oh, okay. I thought she was calling and convincing them, I can get you a tenant, but you have to give us 15%. No, she was calling them, convincing them, take this subsidized housing tenant. Okay. Take this subsidized housing tenant. We filed the paperwork through the case managers downtown Brooklyn, and they would cut the check to us through my father's broker's license. And that's how we were getting the commission.

So the crazy thing was that that's why it was such a, all we did was just do, we called them breakdowns. We just do the breakdown, set it down to the case manager, and they would cut the check. The landlords didn't have to give us the money. We just had to convince them she has Section 8. She's not going to, her and her six kids will not destroy your house. It's going to be okay. Don't worry about it. Glenn come on in and we're going to, you know, guarantee, you know, that everything's okay.

And they would, Section 8 would actually, well, the city would pay us the commission. But that was during David Dinkins. If you're familiar with New York in the 90s, David Dinkies was the mayor, really liberal kind of guy. Rudy, Giuliani came in, like, After two years, Dave was up, the party was over. So the party was over. Drew slowly but surely within, I'm talking about, like, within a month of him being in office, those breakdowns, I mean, that shit was dead.

So that was, that's actually how I ended up going down to Atlanta, because after a while, I couldn't make any money up there. My father's office was pretty much closed, and I ended up transitioning moving down to Atlanta. And I went to get in the real estate business. I didn't know shit about the real estate business, but something said, something said that I was literally, you know, listen, if you've got,

if you have that real innate, deep hustle in you, like that hustle, you have to just really let out in some type of real hustle. Real estate is always a great outlet. You know, selling rock was before that. like a free, a free detour. Yeah, you skipped that far. Yeah, it was a rock.

Let's go back to that room. Well, so I moved down to Atlanta. I moved that right. This is it, but I moved down to Atlanta. So I moved down to Atlanta. I was maybe 23 years old, 24 years old, moved down to Atlanta, which was just, you know, I was excited. I thought I was going to make a lot of this money.

I thought it was going to jump up. I thought it was just going to be absolutely just through the roof. But you didn't take off that way. You got to remember something. I was, I was an alcoholic anyway. I'd been drinking excessively. since I was like, you know, night getting fucked up and then the days going to work, trying to work, trying to. So I had a lot of talent, but, you know, like anything else, if you have these dependency issues and you're a dependent on shit, addiction is a motherfucker, right?

So I was down here and I moved to Atlanta. I was like 23 by then, and I'm trying to get this thing off the ground with sales, trying to learn about real estate, you know, partying, drinking. In Atlanta, it's not working. It's not working. ended up homeless. So I ended up homeless. So the ironic thing was, is I ended up homeless. My cousin, who I'm here with now, my cousin, right, he had, like, houses like all across Atlanta.

So I went to just literally go, he's my big brother, right? So I go up and I'm like, yo, man, they kicked me out there. He's like, well, shit. I mean, I'm working out of his house, but there's a room upstairs for you. I'm like, all right, no problem. So I go up there and literally just all this activity, all this traffic going on. And one day, he just says, hey, listen, man. He says, look, we're there, and I'm just there trying to get my shit together.

I was doing a little telemarketing job during the day. He says, listen, he says, you had a customer announced. He says, can you just give it? He had a customer now. He's like a truck right, right, Joe Bass, right? He got a customer. He says, he was upstairs, like doing, watching TV, cutting up a bunch of others. She says, could you give them these two dimes for me?

Just take it right down to this hand to the two dimes? It's like, all right, cool, man. I go downstairs and listen I took those two dimes and put it in that damn junkie's hand and she gave me that $20 in exchange the transaction and I don't know what happened.

It's like she got hooked on the rock and I got hooked on that $20 man and after that I said to my girls I'm like, do you have any of this shit that I can sell as well to you look and he said sure and the next thing you know I said I'm only going to do this for two weeks well three years went by

Three motherfucking years went by And, you know, three years A selling rock really takes its toll You know, and you're selling rock To the junkies, you know, it's dangerous You know, you're getting into these crazy As arguments or situations? No, situations.

I could tell you, situation that was crazy. This cousin right here, I got a great story I can tell you. So we're in like this rock house, right? So they're like two size, like a duplex. By the way, this very house that was the rock house back in 1990, 1990, 92, this dilapidated house just sold for about literally like $7,800,000 through the gentrification. That's a whole other story.

I got places in Ybor City that I was buying for $40,000. I see them listed for $600,000 and $800,000. It's like, I bought that house for $40,000, $20,000. It's insane. It's insane how much these places are going for. That is amazing how these houses do, gentrification, just take on just a whole, just a whole new meaning. It's not all that gentle.

No, it's not. You got to do the push-out. Yeah, this place is still not all that way. You got to do the big push-up. So we, I get in a fight with this guy. This guy's harassing me while I'm, you know, selling, you know, I'm there, you know, reading the Wall Street Journal while selling the rock on the side. You know what I mean, trying to make my money because I'm preparing for my real estate exam.

But I'm selling the rock on the side. So I'm selling, no, right. So this was like a terrible. temporary thing, right? So I'm down there's preparing for my real estate exam. And this is my cousin's shit, right? So I'm there working out of there, preparing for my real estate exam. And selling rock, and it was one of the junkies that this guy just, this guy just, I think

he just thought I was just kind of like a nerd under my cousin's kind of wing, which really I wasn't, you know, like I told the guy, I'm going to kick your ass anyway. This guy and I get in a fight. My cousin's there, I'm there. This guy gets in a, this guy not getting in a fight. Long story short, as we're getting into the fight, we have to fight at the house. He goes up the street.

Instead of me understanding, listen, he's coming back. Just stop fighting. I thought I ran them off, so I became incredibly confident. I said, listen, I'm going to really settle this shit one last time. We're really going to have this fight in the street in front of everybody. I go running up behind this guy up the street. This guy is like running.

running but what he's actually doing is he's pulling me away from my family my crew the whole thing right so we get up the street get a tree and I said I said I say yo motherfucker I am going to kick your motherfucking ass this final fucking time as he turns around this guy pulls out an ice pick this long he pulls the ice pick out and he I'm thinking of myself oh god what have I done pulls the ice pick out, swings the ice pick. As he swings the ice pick, I jump back. By the grace of God, he misses me the ice pick. I'm looking, thinking myself, oh, my God, I'm absolutely done.

Swings the ice pick again. I'm thinking myself, oh, my God, I'm absolutely done. The third time, the third time, he brings this ice pick up. As he brings the ice pick up, I'm thinking to myself, I am absolutely done. This is it for me. The ice pick comes up. I'm standing in the street. I'm looking.

right over me and comes up with the iceway and I'm thinking oh this is it and then as he comes up it's like he sees a ghost when he sees this ghost he turns around and takes off running like literally midway through he just takes over I look behind me it's my cousin he's got a gun pulled just like this right behind me I'm thinking myself oh through the grace of God that this whole thing has absolutely, I was like absolutely mortified. And that was, at that point, I started praying saying, you know, Lord, I need to find another line of work. This is probably not going to be the best line of work for me.

You know, this is, I probably need to find something else to do. The, the whole concept of, this is my cousin's thing. I'm just helping him out. Like the whole, I feel like if the cops showed up, I'm just an employee. It's just, no, no. It's not like a thing. Ice pick thing just really just kind of just moving, just moved me up. So you went back to New York?

No, no, no, no. No, believe it or not, when that happened, I literally prayed on the corner. I literally was on the corner. I prayed and I said, you know, God, there's got to be something better for me to do. Clearly, I have more talent to my life. There's got to be something else I can do. I said, I want a job at McDonald's. I go rent a room.

I'm 27 years old. Let me just kind of regroup. I'm out of a hall. Let me just get the drinking off my back, the whole thing. Just show me a pathway out. Well, saying that prayer, about two days later, I met this really fun white chick. She was like a dancer at one of the high-end strip clubs. She wanted some rock. I said, no problem.

I went to a hotel, the kind of server. Well, she set me up, and I ended up getting arrested by an undercover officer. So my way out was actually me getting arrested. So I get arrested and I always said if I got arrested, I would stop doing this and I would never do it again. I would never sell drugs again if I got arrested. Well, I got arrested, bonded out. I had a sell case at this point.

And I didn't go by my own motto. Like literally two days later, three days out, I needed money because I spent the money on my money to get out. I went back right back to the same spot, started selling again. and sure enough sold to an undercover officer again mind you i'd gone like three years with no problem suddenly i'm still on the court another case when i quote another case bam bonds out by two cell cases i never had to recognize them i'm thinking oh god this is this is this is bad this isn't good um but by there went to a club one night met a fantastic lady beautiful woman

she was angelic she's like an angel she was a nurse uh Lisa if you ever see this uh I'm sorry about the way things worked out. I should have made better decisions going for it. I really mean that. And she took me home to her house. And I moved, like literally moved me in. And when I moved in, I said, I'm going to sit here. I'm going to get sober.

I'm going to take this time to really reevaluate the life I've been living. And I'm going to stop smoking. I'm just going to get myself there. Well, I sat there and sat there and sat there and sat there. Started getting myself together, got a job doing gas deregulation. We knocked, back then he was doing gas deregulation. We knocked on doors where the monopoly of gas companies were being broken up. And you had these independent vendors that would give you the gas resellers.

I would give you the gas. So I was knocking on doors and things that nature. But the thing is, is that as I'm doing this, and I'm like really drying out and sobering up, I was at Lisa's house when I, like, maybe my second month to really get myself. And mind you, I'm making, like, $200 a week again, and I love it. I'm making $200 a week, but I'm sober. I'm getting together. I'm really, like, the drug shit is going behind me.

I'm really, like, evolving moving on. So as I'm doing this, a friend of mine from New York, he calls me a damn at least his house. He says, hey, man, I got to leave town. The cops are looking for me. I'm thinking, good luck. Get the fuck out of here, right? Goodbye, right? So when he tells me, the cops are looking for me,

could not make this up. He has, like, this black, beautiful, synthetic gator briefcase. It wasn't real, but it looked real. You know what I mean? Some real, but the gator briefcase, and he has the locks on it, the whole thing. And he says, listen, I got in this, he says, just like this,

I could not make them in his briefcase, it's something that's going to make you rich. I said something's going to make me rich. mind you, I'm so running up during y'all's week. I said, oh, what's going to make me rich? He says, in this briefcase is a Carlton Sheets brochures. So you got to mean, this is the 90s. In the early 90s, Carlton Sheets was like, he was like the motherfucker

wizard of real estate money, right? This is a pre-internet, right? So he says, in this briefcase is Carlton Sheets. And he says, he says, once you forgot how to unlock this, locked, right? He says, once you figure out how to unlock this, you're going to go in here and this program is going to make you rich. So I say, sure, man, no problem at all. I said, good luck ticket. He put that briefcase towards the end of my girlfriend's bed. I never got it. It was kind of like the wall where, you know, you can sit in the bed and it's like against the wall. I gave you dab,

said, good luck, bro. He leaves town. And that briefcase is there. And I'm working, knocking on doors, looking at the briefcase, busting my ass. And then one day, I looked at that briefcase, Matt for about literally for about a month and a half. That briefcase looked at me. I did that briefcase. I was not going to do it. I remember I still had my dad and apartments I was renting. I still had that real estate exposure,

but I didn't know shit about real estate. I was running apartments and watch my dad go miss, miss, miss, and really do his clothes. But I didn't know shit about real estate. So one day I said, one day I just said, something just said, open the briefcase. I just felt compelled. I had no thought, no nothing open.

And I remember taking the hatchet because the locks just snap on locks. I had to pry it open, pry it open. And I opened it sure enough, there it was 12 CDs and booklets. And I read the booklets. I listened about 500 CDs. And I realized the Carlton Shee's program was total bullshit. Gave me no information, no nothing.

It was total bullshit. There was no secret formula. no miracle information it was total it was a griff it was total bullshit that was in there so but i did read one small paragraph one little paragraph that resonated and stood out to me what was that flipping contracts oh yeah so he gave he gave a real brush over because you know crossies didn't know shit anyway he was a hustler right so he just simply said flipping con i'm gonna paraphrase for you broke motherfuckers flipping who have bad credit and no got shit going on you go out there and get a contract and put a house under contract you didn't

just give the details but basically you put house into contract you sell the contract for a profit in essence that's what it was bird dogging bird talking so i called my dad up and i said dad just flipping contracts thing however he said listen he said you just simply get up property under contract I called them up in Brooklyn to get a property under contract, put it under below market, and then you mark the contract up and you sell it to who? Get the contract from who. What is the contract from who? My dad said, listen, I can't answer all these questions.

My dad was a broker, he wasn't flipping the whole lot of contracts. He did flip contracts, though. But he said, and he just didn't want, you know, it was just kind of me going on and on. He just said, listen, if you get something call me, and we'll take it from there. I said, all right. Well, I went back out that day, and of course I was doing gas and gas deregulation. So you're already knocking on people's doors, right?

You're already in a great position. And that's the hardest part anyway. You're already doing the hardest part. I'm already doing the hardest part. I'm already doing the hardest part, but it really did get much harder. Right. It really got fucking harder.

So I'm knocking on doors, knocking on doors, knocking on doors. I say, hey, gas de-regulation. Would you like to sign up? Because I got $10 for each one of these gas forms. So I was getting my $10 from the gas fund. And I would also say, by knocking on doors for gas, handing a piece of gas for gas,

I would also say I'm also a real estate. I'm a real estate broker. Real estate investor. I'm also a real estate investor and I buy properties, right? And if you ever have you want to sell your properties, please be sure to give me a call. Like the guy knocking on doors for $10 gas forms. I'm also a real estate investor.

Let me. Not a good one. Let me knock on I'm not going to I'm not going to get doing for gas deregulation, right? But I also buy real estate. Like I buy real estate in the land

and I buy real estate all over one and the people are going, okay, all right, okay, we'll call you for this in the house. And I just kept saying this, right? No clue at all, right? Didn't know how a real estate transaction took place.

So I'm telling this, right? So I kept doing this for like two, three weeks, knock a door, south of doors. And then, one evening I get a call I'm like 27 years old

doing all this shit I did a call phone rings just after like work I'm back at my girlfriend like no car my girlfriend has to come pick me up literally and bring me back home like I'm broke broke her family's like looking at me like

where did you get this fucking bum from where did you get it's $200 a week selling and I felt great because I'm like oh I'm not drinking I'm a good guy you know all this other shit real proud of myself And she was so loving and so bad, good-looking girl, too. But, you know, my fuck was broke, right? You ruined that, I can tell.

Right, right. I got some money, and I was like, gone, right? So listen, so she says, I'm back one day after work, and I'm there, and I get a phone call. Phone rings. I had this little, like, cell phone that I would use. And I had phones like, ring, ring, ring, ring. Hello? Hi, Mr. Dawson.

This is Mr. Tyson. you called my you knocked on my grandmother's door by buying a house i'm like oh shit so i was like somebody's really calling about this i said oh yeah absolutely do you buy houses mr dawson i sure do well my grandmother has a house over here and i like you see if you want to buy it i said sure when you want me to come see it. Come on down right now. So I'll be right over. I said, I'd be right over. So I hung up the phone. I called, I told my girlfriend, said, listen, you got to drive me downtown. There's a guy who actually called me about buying a house.

She said, you don't have anybody to buy a house? She's like, you know what are you talking about? I'm like, the guy wants to send me out of what house? She said, he said, he said, he had a house. I just need to go sit. She says, I'll take you there, and she said, do you know anything? Do you know how much house is worked there? I said, I don't know. Let's just go see the guy. So I go, I go to see the guy, I had this one yellow Tommy Hill finger shirt that I would wear.

This was like when I wanted to knock him dead shirt, right? I had like three shirts. But the yellow Tommy Hill finger shirt, that was the one, right? I put that yellow Tommy Hill finger shirt on. I ended up real quick, threw it on, my jeans, my favorite 10 boots back then. And I jumped in a car with her, and sure enough, we drive down in the Grand Park, this is a section of which was really, this was like one of the early, gentrifying areas of Atlanta. And we come up, and we pull up, and he's sitting there in front of his grandma's up, which the dress he gave.

And Mr. Tyson was a black cowboy, about 44 years old, black hat, cowboy hat, and I'm thinking jeans and some cowboy boots, and we pulled up, and my girlfriend, I pull up, and I'm thinking of myself as I'm pulling up, because I'm from Brooklyn, you know, I had never seen a black cowboy before. You know what I'm saying? He was like a black cowboy. First of all, I had to get over that whole fascination on it. He was like dark like me, cowboy and shit.

He's like 44 at the time. And he says, he goes, he says, hi, Mr. Darcy, I'm Mr. Tyson. I looked, I said, I said, hey, Mr. Tyson, how are you? He said, I said, is this the house? He says, yeah, this is the house. This is my grandmother's house. And how much he gave me for it? And I looked at the house.

I tried to look professional. I tried to posture. I tried to give some movement. I looked at my girlfriend. I said, tell you what, Mr. Tyson, let me run some numbers, because I heard him say that before, let me run some numbers, and I'm going to come back, and I'm going to come back, and I'm going to, I'll let you know. He says, what are you going to get back to me?

I said, tomorrow at 11 a.m. He looks at me, and he says to me, Are you sure you're a real estate investor? You just saw it through my whole veil. And I said, yeah, I sure am. I absolutely am. Jump in my girlfriend's car. I'm thinking, where am I going to get? How would I sell this house?

How am I going to buy this house? As I'm saying this, as I'm driving with her, I'm driving through, I look up and there's a sign that says, we buy houses. Back then, they were on all, they were everywhere. The yellow sign. We buy houses. I see another one that says, we buy houses. These sheets are everywhere.

We buy houses. I'm saying, well, these guys obviously know what to do. So I start calling them, hey, this is DJ. I'm a real estate investor. I've got a house for self. I call another one, hey, this is DJ. I'm a real estate. I'm a real estate, but I've got another.

Finally, this one guy, I said, listen, I'll breathe a deal to you. You can see the deal. There's one guy Tom answers. Finally, I call on guy, Tom says, I say, hey, I'm DJ, I'm real estate. I have a house for sale. He says, oh, do you really? I say, yeah. He says, when can I come see it?

I said, well, I could take, because we were still down. time my girlfriend's car, I went to maximize the use of her car. I said, can you come now? He says, yeah, I'll come now. This guy, Tom shows up clean cut. It looked like a doctor. He had like some kind of class ring on. Tall white guy. You know, the white guy thing worked for me, right? Tall white guy and shit, right? And he came through real clean cut. And he says, well, let's go see the house. I said, no problem. I take him by, show him the house. He absolutely loves it. And as he absolutely loves the house,

I say, well, we're going to meet Mr. Tyson tomorrow at about 10, 11 o'clock. Why don't you come on down and look at the house. He says, sure, no problem. So the next day, he comes down, just like he says, he's going to meet me. He meets me because Tom said he had the money. So when he has the money, he comes on back. When he comes back, we go to Tyson. Said, Mr. Tyson, this is my colleague, Tom.

Tom is going to be putting up the money for us to do this transaction. Tyson looks at him. says, oh, okay, he says, nice to meet you, Tom. Tom goes, nice to meet you, Tyson, and they kind of both look at it. So I kind of felt the energy, like they kind of looked, Tom looked at him, he kind of looked at Tom, and something about me kind of felt like the odd man out. I couldn't quite put my finger on it, but this is what got interesting. They said, he says, well, how much are you going to give me for the house?

Tom says, I'll give you $40,000. This is back in the early 90s. already worked out a deal with him that hey whatever you're offering tag 10 grand on to it for me not at all because i trusted them well he doesn't know he offered where did you think the extra money was going to come from if he said 40 there's no extra money for you Tyson wants 40 he's giving 40 and for you to say great i need you to give me five he's going to be like well you should have told me that but we have to remember something very important you don't know anything i didn't know what the fuck i was doing right i had no fucking come on

the fuck I was doing. Call my dad. I'm in the middle of a deal. How hard could this be, right? Right. Right. Right. Right. Right. Right. The mindset. Right. So, so I say to him, all right. So he says to Tyson, so he says, give me 44,000. I said, to her to, because Tom said 40. He says, give me 44,000. And they go, Tom goes, you got a deal. Tyson goes, great. Great. Great. No problem at all. And they look. look at me and they say, uh, Mr. Dossi, do you want to do a contract? I said, no, I trust you guys. Why don't you do a contract? Oh, you really don't know what you're doing. Oh, no, nothing, nothing at all. Green, beyond green. So I trust you guys. Why would I need a contract? Matt, they both looked at each other. They looked at me. They looked at each other.

and that one connection they made was this guy could not pass. I felt the energy, I mean, it was palpable. I mean, you could taste it. When they gave each other that look, I didn't know what the look was, but I felt the look. You know what I mean? And I couldn't put it together. So they both looked at each other. They said, all right, no problem.

They looked right calm. He said, all right, no problem. So sure enough, we leave, and then we leave, and then we go. And I said, how long will it take you to close? Tom said I'll close it in seven days. No problem, no problem. They said, Mr. Dosset, Tyson, Mr. Dosser, I'm going to call you once they're closed. By the way, how much do you want out the deal?

I said, Mr. Tyson, give me $12,000. It was just a number I had. 12 out of it. Listen, I felt 12,000 was the number I had. I dreamed at this point of my life of having $12,000 at one significant time, at one point. Tyson looked at me. He said, same look again. No problem, Mr. Donsie. No problem. Thanks. I walked away. I looked at Lisa. I said, Lisa, we're going to be rich. We're going to get this thing going. We're going to be loaded. $12,000. I'm thinking, oh, I'm going to show this

whole motherfucker. I'm going to get myself a car. I had the whole thing going, right? So we leave. I think the closing was seven days. Seven days goes by. 10 days goes by I start calling Tyson no answer 15 days goes by I called Tom up I said Tom I haven't heard from anyone what's going on I haven't heard a thing

what would happen he says Tyson didn't call you I said no Tyson didn't call you he says let me call you right back I said all right calling back after that couple hours later no answer then 20 days go by and I'm sitting I'm like what the hell when I'm talking to leased I'm talking about cousin I'm like I had a deal going with these guys had something happening

what the hell is happening so as this is going on I started hanging around real estate meetings real estate associations I met the slated named Lucille in the interim of me waiting to get disclosing that slay Lucille was about 70 years old she was killing it in the real estate business she was doing cashouts which I'll get into what those were later on but she was doing cash outs absolutely killing it so in her cashouts. She's making $100,000 here, $150,000. You know, when you increase the price up, create the equity, that was huge back then. You know what I mean? Stayed the loan. She was killing that whole shit, right? So she's making $100.

Kind of took me under her wing over this period of time because I took an interest. So in and how old was she? She was like 70. She was 70 and she looked. But she was sharp. So she looked like she, I swear she looked about 40. Okay. Right. And, and at one point I was confided and I said, we went to lunch and she She invited me down on lunch.

She said, let me buy you lunch. She just liked me, you know. She was kind of mentoring a little bit. I sat there. And I said to her, Lucy, we're sitting at this coffee shop. And I said, Lucille, I did a deal. I did a deal. She says, you did a deal.

She says, yeah. I said, would you deal? She says, oh, where did you deal the deal at? She's sipping her tea. I said, Grandpa. In the middle of the subject, you did a deal with Grandpa. I said, yeah. I said, she said, how much did you sell the deal for?

I said, well, we sold it for $44,000. They're going to give me $12,000. She says, how did you do a deal in Grant Park for $44,000? I said, that's the price. I got it for $40,000. She said, houses in Grant Park, the after repair value are like $350,000. She says, that's the after repair value on those properties. She said, did you need work?

I said, yeah, it needed work. She says, was it a big house? I said, yeah, it was big. She says, and she said, how did you even get it that low? And she said, how did you even suffer? She says, let me see your contract. I said, I don't have a contract. She said, you have no contract.

She says, how did you do a deal without a contract? I said, oh, well, Mr. Tyson and Mr. Tom, I trusted them, and they're going to set me up with a deal, and they're going to be a whole deal way through. She says, you're crazy. She says, first of all, a deal like that, we could have made, you could have made 50, 60,000 easy on that deal. I'm like, what?

Those are the numbers I didn't even heard of. She says, oh, no, you got to call them back. I said, I've been calling, no one answered. I ran back. She'd go back, fine, I go back, I call. Now we're into the 25th day. Now I'm going to the 30, now calling this guy 10 times a day. I'm like, what the hell have I done?

I'm calling, calling, calling, finally on like the 35th day, I called, phone me, shit, hello. Mr. Tyson, this is Darcy. I've been trying to reach you. I haven't heard from you. I haven't heard from what to deal. I need to talk to you out the country. Mr. Darcy, you call me more than my bitch.

Excuse you, Mr. Tyson? You call me more than my bitch, Mr. Darcy. Now, Mr. Dassey, let me be honest with you and let me be frank with you. You're not getting $12,000, Mr. Darcy. I'm not. No, Mr. Dawson. But what I am going to do for you. you, Mr. Dossi, I'm going to give you $3,000.

So, you know, man, $3,000, might as well have been $300,000 to me at the time. Right. So literally, I'm not bullshit. $3,000 is like $300,000. That's change your life. It's a life-changing money, right? Three grand, right? So he says, he says, Mr. Dossi, I'm leaving town in about a hour.

You need to meet me down at the, at the Wachovia Bank on Lee Street, I'm going, this deal is already closed, and I'm going to give you $3,000. If you are two minutes late, Mr. Dosser, you're getting nothing, and I'm going back to Alabama. No problem, Mr. Tyson. I'll be right there.

Boom, he hangs up the phone. I hang up the phone. I'm sitting here like, I'm like, I see lease, I excuse me if I borrow a truck, she gives me a truck, I jump in the truck. I'm going to be down like Lucille Lucille I found Mr. Tyson Oh did you did you rework the deal

No no no no that's dead But he's giving me $3,000 She goes oh okay I said I'm gonna pick you up I want you to go with me I'll run down pick it up real quick We're going down to meet him at the Wachovia As we pull up to the Wachovia

I'd never forget this Mr. Tyson Has the pickup truck The back of his pulled into the Wachovia parking lot In front of the bank packed with boxes this. There was a pit bull and a crate within the boxes

packed up also, right? He's got this shit and he's standing there on the back of the pickup, like kind of leaned on it. A brand new, beautiful cowboy hat. He has a brand new cowboy with this huge silver buckle looking like motherfucking Newman and beautiful

cowboy boots. He sees me pulling up and he kind of leans on that truck with the hat and he looks at me and he goes, I pull up, I get and I say, hello, Mr. Tyson, how are you? He says, Mr. Darcy, I was just about to leave. I said, Ms. Tyson pulls it out. He says, here's your $3,000 cashier's check.

I got it just for you. I said, oh, thank you, Mr. Dawson. Took me a lot of gas and time to get down here. I require $100 of this $3,000. I said, how am I supposed to give you? I have no money, Mr. Tyson. No problem. let's go inside and cash it.

So, okay, Mr. Tyson, we're walking in. He's got the $3,000 check. We give it to the cashier. He's standing in the next week. Stand next to meet. The little cage back then. This is before the bulletproofed the little cage. And she gives the check.

And she gives a check. We're both standing and looking at the cage. And the cashier's counting. She's cash in one, two. And I'm watching each other. I can't believe the flow of these hundreds just hitting and hitting three. And these hundreds are coming through. And they're coming through.

Then I want to get to the last. one for the third 3, 2,900, and he takes that one is mine. He takes $100. And I grabbed the $2,900 in my fist and we're walking out the door to our COVID. He's walking, I'm like, oh, I got to get

the fuck away from this motherfucker, but I got the $2,900. We're walking through. He's behind me. As we walked through it at the door, my car's over here, my girlfriend's car, Lee, Lucille's sitting in it, and he's going to that crate that truck with the dog and the pickup and all that shit in there. He's going his way, and his way. Moving away,

I'm going to get that trick. I'm like, oh, God, I got to get that out of it. And he's going on his car. I hear him say one more time, Mr. Dicey. I turn around and say, yeah, Mr. Dyson. One more thing, Mr. Dossy. What is it, Mr. Dyson? Welcome to the real estate business.

I said, thank you, Mr. Dyson. True story. And that is my first deal I ever did getting into the real estate business. It was the deal from. Hell. Now, you got the three grand. I got $2,900. I got $2,900. I didn't get $3,000. I got $2,900.

Now, hence, let me just fast forward this. Of course, which I tell you, get into it. My shit took off, right? I eat, slip, breathe, sleep, and contracts, right? I'm marketing the whole fucking city, signs everywhere. Darcy Richards, property specialist, we buy, I fucking put thousands of signs through that motherfucker. I made myself famous in that city.

Two years, two years later, two years later, I'm doing a deal up at my attorney's office Closer, flip the deal, get 90 grand off the deal coming back out of office. And I told my team, listen, me down at the, I, uh, oh, by then I had the team. Oh, yeah, by then I had the team. Can I ask you a quick question real quick, sorry. What happened with these, the, um, uh, uh, the sales charges? You got arrested twice for selling. Did you get probation?

Did you get it thrown out? So. Did you just not go back to court? No, no, no. So in that part of it, as I went through that two years of building the business up, I built up the entire business. Along that time, I started buying properties up and down the city. I literally started marketing like a maniac. I started doing deal after deal, flipping contract after contract,

flipping a contract machine. By this time, flipping contracts, I'm probably making some way. I'm probably doing a deal a week, right, about within the first 12 months. I'm part 12, first year and a half, I'm doing about a deal a week. So I'm making anywhere from three to $10,000 a week by then. So as I'm flipping contracts, now I'm knocking on doors, doing the calls. We're a big on the telemarketing. Through the process, I meet a district attorney, an assistant district attorney.

And her, meet the assistant district attorney. And she got became friends. We weren't kicking anything like that. We were just friends. I was supposed to do a deal on her house. Let me back up. And along the time with her, I had done a deal with the judge as well, too. I flipped her property as well also.

So I'm making myself a real name in the community. Hence, the assistant district attorney became friends with. At one point, I confided and I said, listen, I know you work downtown. Here's what I was doing prior in my former life. I was selling rock on the corner. I changed my life around. By changing my life around, I got in real estate. She couldn't even see it.

She said, how long ago was this? I was like, this is like a year or never. She says, oh, you've been flipping, I've been watching flip houses left and right. How the hell are you in a union have going as far? I said, well, all I've done is just focused on this day and night, night and day. Well, when the time came for me to go to court, I ended up going down the court. They went and spoke to the judge.

So she went and spoke to the judge. The judge that I flipped her contract went and spoke to the judge. And, well, they spoke to the prosecutor. The prosecutor spoke to the judge. Let me flip it that way. Right. They actually spoke to the prosecutor. The prosecutor spoke to him. So I went in front of the judge, this is about a year and a half, two years later, he said, Mr. Richards, I've heard about what you've been doing. And I've heard about the remarkable way you've changed your life around such a short period of time.

People down here seem to know who you are. It was really two people, but it just kind of had that ubiquitous feel, you know? And she says, he says, listen, this is what I'm going to do for you. I'm going to give you for two cell cases a first offender. he says this is going to be in your record for a year after that year we're going to totally cut it off expunged expunged nice but if you get any other trouble i'm going to give you 40 years that's what he told me and that's what happened so you went the whole year you're good yeah yeah yeah i had no problem now i slipped your contracts a year yeah my problems came later on but but that's what i was doing i was flipping those contracts day in day out day in day out and

The business just took off. So I'm flipping contracts. Okay, so real quick, for the purposes of people watching, flipping contracts is he's going out and he's convincing a homeowner who's selling their house to sell him their house for $50,000. He doesn't have $50,000. He's not buying it for $50,000. He's then turning around and going to an investor that's going to sell that house.

He goes and says, look, I got a contract in his house for $50,000. I'll give it to you for $65. Guy goes out, he looks at the house, says, I'll give you $60. He says, okay, no problem. So then the day of the closing, sometimes, sometimes it's just an assignment fee, but sometimes it's called a simultaneous closing. Same thing. Same thing.

Well, an assignment would be different. Sometimes you can just assign the concept they buy it correctly. So what happens is that guy buys a house for 60. He gives, he gives Dawsey $10,000, right? So sometimes you're just assigning it, and at closing you get a check. Sometimes you'll close first on your $50,000 sale. So you're closing at 50, and then he comes in and buys it. immediately from you for 60.

Usually they buy it for 60 before you've even bought it for 50 because it's the same day. Absolutely. You know, that's hard if there's a mortgage company involved. Anyway, that's what he's doing, but he's doing it.

There are guys that make fucking hundreds of thousands of dollars. And you don't even, per month. Right. I'm just saying the average guy. Right, right. Like if you're just the guy buying and selling buying and some of these guys that that's all they do is knock on it.

And that's hard. It's grueling work. It just pay. So if you have a talent for knocking out that kind of grueling. and work. You can really take off with it. If you can, if you can, if you can take the rejection and not let it basically make you want to off yourself, you know what I'm saying? Like you got to be able to knock on the door and have them to say, no, I'm not interested and be like, okay, thank you very much. Here's my card. If you change your mind and go to the next one, go to the next one, go to next one, go to next one.

Because you only need one to hit. One hits and boom, 10 grand. Yeah. And it's a numbers game. Yeah. Because the idea is you're making offer after, offer after, offer after, it is brutal. It's intense and as brutal. Forget about having a social life. But when you're looking to come up and make some money and you're broke, like, where I was broke, are you kidding me? You've got told me work, I was probably working anywhere from 12 to 15 hours a day. Do you go for $200 a week to? I was making $10,000. Put it this way. By that, by that second year when I was in court, I bought a brand new S500, S500 back then, S500 Mercedes that ran me like 90 grand and put like $7,000, $10,000 rooms on it. I had,

houses that was renovated. I mean, you know, the whole story. The idea was that, again, the beautiful part about flipping the contracts was that I didn't own anything. I had nothing in it. I just needed the numbers to work. And negotiating and negotiating and getting as much equities I could in the deal to negotiating

that price down, allowed me to flip them quicker and faster, and I had a knack for it. And the idea was I would just call and call and call and call. Hello, hey, this is DJ Property Specialist. Just going to let you know, we're in the Atlanta area, making a number of cash offers on properties. We understand you're the of 2-2-2 Challenge Street. We'd like to let you know.

We'd like to give you a call tomorrow with a cash offer. Hopefully, one, you may be interested in entertaining. I understand it's a three-bedroom, correct? And that was the pitch. I just kept saying that pitch over and over and over and over again and just started negotiating deals. So it took off.

I made a ton of money. Suddenly I was getting, you know, just a lot of recognition. People loved the fact of the deals I was doing. I was meeting other people in the community. my social statuses so by this time it had to have been i started 99 this is me in 2001 okay so i thought i was just at the pinnacle i just thought i was at the pinnacle i thought because i was making like ten thousand dollars a week what's your dad i'm sorry what's your dad saying is your dad like super oh everybody's proud everybody thinks i'm doing great and flipping conflict is perfectly legal so

so again i it was it was it was just a miraculous story you know the women you know fortunately i left the girlfriend you know uh and uh moving to my house uh in west end section we worked out of there i started recruiting people started building teams started building another by the way i ran it to mr tyson again later on really when i was successful and um yeah that was crazy one day i like i told you i'd done that $90,000 deal uh i never get that more was a deal i mean $9 because the deal had gotten bigger because we started doing cash outs and things that nature which i'll get into that but I was, I called it right,

I said there was a, there's a restaurant that everybody used to eat. I can't remember the name of it. I think it was like Shantrells or something like that. I said, just meet me down there. I said, come on down, it's like two years later. So as we're coming through, I come out to closing, I'm taking everybody lunch, you know,

the lunch closing when you do the closing, you take your lunch, right? And I'm pulling in, I got a Mercedes, and I'm pulling it as I come, but you got to remember, my name is all over the city on those signs. It's like a billboard. Those songs are like free billboards.

They're like everywhere across the city. So everyone knows who I am by the name, right? So I come in that story. As I'm coming to the rest of my friends today, I'm walking in the door, I parked the car. I'm excited. I'm waving at them through the glass. And the rest of the way, they're like waving back to the little team.

And as I walk through the door, I go, I'm like, hey, as I'm walking, I'm walking just right here. Oh, my God. Stop the presses, Mr. Darcy. Listen, as I stopped, the hears on my back stood on my back. I turned around and I looked and that black cowboy had stood up. Mr. Darcy, everybody, everybody, this is a millionaire. A millionaire, Mr. Darcy.

He says, Mr. Darcy, he says, I've been hearing about you, seeing your signs all over the place. Look at you, Mr. Darcy. New shoes, new clothes. Look at that car. He said, Mr. Dawson, you should give me some money because it's because of me why you got where you are, Mr. Dawson. Oh, look, I say, you are absolutely right, Mr. Tyson. I'm thinking myself, fuck off.

But I'm thinking, I'll say you're absolutely right, Mr. Tyson. You're absolutely right. Good to see you, Mr. Tyson. He said, Mr. Dawson, we need to stay in touch with you. No, thanks, Mr. Tyson. Enjoy your lunch. And I would have said that, but I did have that running from him. So, I was flipping contracts, and I was killing it flipping contracts.

I started doing, you know, I just always made money at flipping contracts. Then I started doing what I call cash outs, and that's where things got, that's weird and questionable. To say the least. So I don't know if your audience knows about cash shots. So during, so, and I guess to explain, you want me explaining it? So during the height of the, uh, uh, uh, of the real estate, loose lending, cash-offs essentially were, it was a practice that

real estate investors had where you would increase the price of the property. Right. You'd increase the price of that property. And by increasing the price of that property, let's say the property was worth, hypothetically, as is $100,000, appraisers would turn around and actually appraise it at $200,000. With that, when the lender, when the seller only wanted $100,000. $100,000. By doing that, it allowed you to pull out $100,000 in equity and increased value and put it back in your pocket while the seller took their $100,000. So the property is really

selling for $200,000, you just got the value of appraised at $200,000. You pulled out the $100,000 by pulling out extra $100,000 in equity. They got $100,000, which was their base sale price, and then you took out the other $100,000. To many people, the novice, they say, oh, what's wrong with that? Well, that's mortgage fraud. Yeah. Yeah. And the problem with the mortgage fraud in that is that that's not the actual value of the property.

Then, of course, you know, there was all the paperwork being done in support that as well, too, which just kind of adds to the fuckery across the board as well, too. So the whole thing is just front. But it was a common practice. It really was a common practice across the board. What's so funny is that because typically a seller has no clue what's happening, When you go in and say 200, I would go in and I'd give them the contract for 200 grand. And they'd go, it's 200 grand.

I know, but we're going to be doing renovations. And because it's a construction to permanent loan, which it's not. Right. I'd say, we're going to cut $100,000 to the construction company. And I actually had a construction company. Right. So we'd go to close. I'd get the loan from the bank for the 200,000.

Go to the closing. We'd close. You get your 100 grand. The other 100 grand would be cut to a construction company. There would be a provided invoice, and they would get to get that money. And we would provide an appraisal to the lender saying that there had already been $100,000 in renovations. So to everybody involved, it looks legit. Like the seller thinks, oh, this is for that $100,000 is for the renovations that are going to be done.

The bank thinks that $100,000 is a payback the contractors who have already done the work. And nobody, you know, because one hand doesn't know what the other hand's doing and everybody involved, you'd have this free flowing conversation where it looked a very above board that the title company knows about it. They're cutting an official check to this corporation. It's being deployed. It was so funny. You'd walk out there like, I just committed $100,000 in fraud and everybody's perfectly aware of it. And yet nobody seems to understand that it's fraud. And the attorneys were happy with it too. The attorneys did it all day long as well. The attorneys did it. It was such a common thing. illegal illegal well you know it's it's like it's like selling rocks it happens all the time it's always illegal it's always illegal and without a doubt about it and uh yeah and you know the funny thing about it was that it was so common but there was just so much money and it was just all around you and um well you know like become emboldened every time it goes through i was just about to say that i was just about to say you become emboldened and really you know So what's funny about is I get more into my story about the real estate business and then I go into

the story about the real estate business. It is amazing how you could have a legitimate business, but it becomes enamored and fraud by going a little bit. It's like, how do you boil the frog slowly, a little bit, a little bit, a little bit. Incrementally, it really makes you know your business is just, it's just you're doing fraud as a, you know, and the thing is with finance and, of course, and finance. runs with fraud. Finance, Wall Street, the whole gamut.

There, so much fraud is based in it that people are doing it as a full course of and then, of course, you know. Yeah, I was so comfortable in it. It was perfectly okay. Like now I, you know how sick to my stomach? Any one of my transactions that I did that I thought nothing about and I was bold, walk in, argue, yell, everything, the whole thing's fraud. I'm arguing and this, no, give me this, no.

Walk away then. you don't have to sign i mean just emboldened if i was hit were to do one of those transactions to this day or i'd be puking in the park yeah yeah i'd be terrified right because you can't do the time right exactly because you can't do it really you can't do that you don't know what it means you don't know what it means right you can't right and once you get the time and you're doing the time you're like what the fuck have i done to myself right absolutely and that is the that's just the whole other story uh yeah so the thing so we started so we started doing cash shots so when i had to cash outs in my business, because I was still flipping contracts, but I was flipping contracts

by also, by way of cash out, because my income absolutely took off. And that's where the women came in, the, the, the, uh, the, uh, the fly apartments came in. That's where my cars went from, uh, Ben's to a Bentley. That's where the whole thing just started, uh, taking off, uh, across the board in, in that respect. So, I have a question for you, too. The other thing is, So you're making about 10 grand a week. No, well, not the cash, not the flipping, flipping those contracts. Right. So you're making roughly 40,000 a month.

Right. 20 years ago. 20 something years ago. Right. That's like almost, assuming 40, that's almost half a million dollars. Here's the thing, because I'm only asking you because I've been asked the same thing. So I know my answer. I know your answer.

is that is that you know like like what and it was legal it was legal flipping contracts you know why wasn't that enough or did it i'm sorry what i want to know what your answer is you know that thing really happened i know it sounds crazy what i'm about to say to you i've always been an avid reader and i've always read a lot and i've always read about people doing business hustlers on wall street It could be anywhere from Sandy Wiles, Michael Milken, I was supposed to be, by the way, all these people in the prison, right? It could be about all the players, right? And what happened with me is that you start off saying I need $3,000.

It's like $300,000. Remember that $3,000? That's the deal I would remember to the day I die. That's the deal that sticks out of money. But what happens is that you're not on Boulevard anymore. That's why I used to sell drugs at, right? You're not on Boulevard anymore with my kids anymore. Now, you're hanging out with Kim Porter at Houston's on Peastry Street Street.

You're going, you're hanging out with women to have $2,000 boots on and $2,000 purses. And here weaves that cost $4,000, $600. Your crowd changes. So when your crowd changes, your environment, And again, I was reading about people who were making, you know, $10 million a year. So suddenly, and the more I kept reading it, the more I kept saying, you know, if I can go from here, can I get there? And it's just a competitive, driven, greed-based edge.

Just, it just, that's where my mind was. And that's what happens when you get that environment. Because suddenly, when you're hanging out with someone that makes – $40,000 a year and you're making $10,000 a week and $40,000 a month and they're making $40,000 a year, oh, you're doing great. The problem is that you leave that crowd.

You leave that environment and the money allows you go into another crowd. And that other crowd... Now you're the poor kid. Now you're a poor kid. $40,000 is a year is not such a month. Excuse me. A month is not such a big deal.

you know um so things things things things really uh took off there was a i'll tell you the when i got into cash outs and i saw the power of cash outs i'll tell you what happened when i truly truly truly truly truly truly saw the power of the cash out um and this is where things just really just again add these points where things were things where they were just like these pinnacle, these game changers for me, right? So as I'm doing these deals, flipping contracts, flipping contracts,

and mixing them with the cashers, I come across this lady. This lady's name was, I'm not going to use her real name. I'm going to say her name is Ms. Barbara. Right? So Ms. Barbara was an old school real estate investor that, well, she wasn't in a real estate investor.

Her husband was a real estate investor. So this is like that old Atlanta kind of money type of thing. this woman by the way was just uh she's like 75 years old uh i called her one day to uh hey how you doing this is dj richard's property specialist hey calling it you know the whole pitch i like to take a little property she says yeah i have a property on two two two ashby ashby road i said great i said uh we'd like to make an offer on it does a lot now mind you is i'm making the offer talking to on the phone she says i'm looking at the comps the comps on the property about two $280,000 back day.

I said to her, what can I do all cash offers? How much would you like for the property? I can close it in 10 days. She says, will you give me $12,000? So I'm thinking, I'm like, did I not hear it correctly?

Right. I'm like, so I'll pause. I'm like, I'm sorry, because we're on the phone never met. I said, I'm sorry. She says, can you give me $12,000? I said, absolutely, I can give you $12,000. I said, for a matter of fact, I said, but what I'm going to do for you is something special.

I'm going to close all cash and close this deal for you, all cash, in 24 hours. Could that work for you? She said, because I'm thinking, get this deal off the table now. Don't play. Don't get the deal off the table. She said, sure, no problem at all.

absolutely great. I said, again, I said, what I like to do, because I spend a lot of time working with people in the market, and I always want to make sure that I do, that relationship that is solidified, that I do make sure that we do create that relationship. I'd love to come by and meet with you and bring over the purchase and sales agreement, and we can endorse it there, and I can actually expedite this process very quickly for you. I says, great. I said, well, can I come by? She says, sure, here's my address. I go jump in my car. shoot right over there, get there, she goes there. This one was like 75 years old, but you could tell, man, when she was younger,

you could tell she was, she was a long Indian hair. She was like really thick guy. She's like, really good, I mean, don't even wrong. I'm not chasing her 75-year-old woman, but she was fine. You could tell she was like bad back in the day. I'm like, oh, shit, she's fine back in the day, right? So I said, so good to meet you, Ms. Barbara. I said, hey, my name, you know, my name is Donson.

So good to meet you, I said, hey, listen, let's get this deal clothes. to deal close to you very quickly. And she says, sure, no problem. She says to me, because she's in it, kind of like this, so there's an area called Collier Heights that was like the old black established, progressive, upwardly, mobile black neighborhood in Atlanta in like 50s, she was still there. So she was kind of like a holdover from that era in that property,

in that neighborhood, right? So you kind of get the idea of this kind of southern kind of elite of the time that was there, you know, so she's there. She has a nice home, but it's a, older home, right? So she says, but it's an old house. It's not a big house, bungalow style, maybe 13, 14,400 square feet. So we're there talking. I'm getting a couple hundred thousand cleaned up, right? He still worked a couple of thousand cleaned up. But I said, how did you get,

so I said to her, she says, yeah, my husband, she's sitting down there, she says, oh yes, my husband, he died. But he was a, he was a contractor, and he just buy a house, buy a house buy a house and I'm writing that's fantastic and I said where's your husband

or now it says oh he passed away listening I said oh yeah he bought over 100 houses

so I'm looking I said is that right really he says yeah he bought over a hundred houses she says

so I've been selling off a few of them I said that's beautiful miss glass again miss glasses they were this shining silver hair

she's an older woman And she says, I sold the house last week. Would you like to see what I bought myself? Said, we'd like to see what you bought you? I said, yeah, she says, come on, let me show you. So, okay, never been in this woman's house. We stand up and we're walking. This woman's like 75, kid you not.

We start walking through the living room. We walk into the kitchen. As you walk into the kitchen, there's a window. Smaller window in those older homes. And it's over her carport. It goes right to the carports right there. just take a look and she pulls a curtain back and sitting there is a brand new fresh out the box BMW m5 i said wow that's that's a beautiful car she says oh yes it's the m5 i always wanted it

i said yes like i said i always wanted it too it's like i says beautiful it's like 80 grand it's beautiful she says oh yes i said do you get to drive it often she just know the young man down the street comes by three times a week and he drives it to take me to get my groceries i said oh that's beautiful miss glass very nice so we go back sit down i do the contract sure enough to my word forty hours later we're there getting the contract done pay her a deal deal's done as we're leaving in the parking lot of the closing attorney. I said, Ms. Glass, do you happen to have anything else I go clothes? She says, well, I have five more.

But there's only one problem. I said, what's that, Ms. Glass? You're going to have to give me 15,000 for those. My God. I said, all right, Ms. Glass. I think I could work. I'm actually giving away a real name now. Ms. Barber.

Right. Ms. Barber, right? She's, all right, Ms. Barber. I said, I said, okay. I said, I said, would you allow me to own a finance dose? She's, how much would you give me down? I said, tell you what, I'll give you $10,000 down and let me own a finance them. But I will give you the $50,000 again in 48 hours.

She said, sure, no problem. So what do you mean? So you said they were, they were 15,000. Are you, 15,000? I'm going to $10,000, $10,000, and there's five of them. Okay, oh, okay, sorry. And the comps range anywhere from... So it was $75,000 total, she's going to own her finance $25,000.

You give her $50,000, she owned her finance $25,000, which is five on each property. Yes. Okay. The average comp on those deals were anywhere from $250,000 to $350,000. That was the deal. So her and I, we do the deal, get the properties, I do the deal, so forth, and get the deal on the contract 40 hours late so i've got uh i've got uh five of these uh uh properties i've got five of them and i'm thinking so back then you had some of these people you know

when you flip contracts you always look for this you always look for the sucker money you know what i mean dumb money right people that don't really know the deal but they're ready they're getting in the business they're excited they're running there's someone that's selling across the board right? So I had these buyers that bought cash out deals, the board deals I used to flip deals to. They always overpaid. They always, always overpaid. So I saw, so I showed them a deal. As soon as I got the deal, I said, I'm flipping these. I'm flipping these off the rip. So I had the deals. I said, I said, I need to, you know, I want to do the deal. I want to get them sold, call them up, call my guys with eight, I got these five deals. I want to turn around. I want

to sell these deals through. I want to get these deals sold. I said, listen, they're worth about $300,000 each. They ran the comp. They got excited. They said, yeah, yeah, we got to get these out. This is what everybody's fringing. Got to get the deal. We got to get these deals. We got to get these deals. No problem, no problem. Turn around. I sell them the deals for $100,000 each. They turn around. They sell the deals for $125,000 each. They're making like $25,000 each one. They don't know how much I'm into the deal for. They don't know how much I'm into the deal at all for. They're rushing to get the deals done.

I'm pushing to get the deals done to get Ms. Glass out the way. Because I close with Ms. Glass, but I still want to get her out the way. We go up to the closing. We go up to the closing about maybe 30, 40 days later because they use conventional financing with it. I think with this deal that I did with them, by the time it was all said and done, we went up there, we did the deal,

flipped the contracts to them, sold the deals to them they brought their buys and so I sold I closed owner finance sold the contract sold the deal to them

they had a contract they went and just parsed it out to their network right they sold it to their buyers I'm sitting up there at the closing

attorney's office it's just signing just signing just signing just signing because for each closing that's taking place up there at the attorney's office I'm sitting here signing signing

I'm at the conference table because when I got to there were people in the waiting area Everybody's there to close their piece of the deal. They've got the deal up there. And I'm sitting in. I'm signing, signing, signing. As I got through signing, signing, sign, and as I got through signing, sign, and at the end of it, signing, I'm sitting at the head of the conference.

Because they were ushering people in back and forth. The attorney came in, and all the people there, you know, and they said, thanks. We appreciate it. You guys did a great job. Thank you so much. Mr. Richards, here's your check. and they slid across a check was probably like $525,000.

Man, when they gave me the fucking check, listen, I said to myself, I said, stay calm. Stay fucking calm. I'm looking. I'm saying, get the fuck out this room now. I'm looking and first thing I'm thinking, I'm like, kid, Arthur, I'm looking.

The attorney's there. the guys there they smell now the guys are looking and they realize because they didn't know how much they didn't know what my payoff was when they realized in what the payoff was and what the check was across the board and i've got that check for 500 and i'm thinking now these motherfuckers are looking at me like quinti kente right there's like i gotta get the hell of out of here right yeah i take that check and i slid the fuck about that closing table and i went out that door actually right thank you so much i appreciate every last one of you I took that check, I went downstairs, jumped in my car, went to Houston's restaurant across the street, which, you know, Houston's is really dark. This is one who's on West Paces Ferry. Went into that motherfucker, crawled my ass into the back of Houston, throw up blending in the dark because, you know, they have the dark dim lights. I'm dark. I didn't want anybody to see me, right? I'm in that motherfucker, and I just looked at the check, and that was the time I got $525,000 off of a deal probably in about 45 days.

But you have to remember, this is around two, this is like 2001, I did this. This is like 2001. I turned around, took the, turned around, took the check, deposited the check in the bank. The bank I deposited the check in, there was a girl down there that I used to have the hots for. Her name, Candace, if you're watching this,

yes, I'm talking about you. Her name is Candice. and she would brush me or brush me fine my thing she was young she had to hear her look this is bad motherfucker right and she would kind of brush me i was getting some money but you know but this particular check with the money i put in the bank and with the cash i had been already accumulating for my deals this kicked me over the million dollar mark that's the other part about this that was just symbolic because i put the check in with the other funds that had already been accumulating this literally put my My account, literally in my account, I was over a million dollars in my account, first time.

And I put the money in. I said, by the way, is Candace here? Because I wanted to see me put it in. They said, no, she's not, sorry, but just tell her I wanted to say hi. You know, I try to catch her in there and see, ah, she brushed me up. You know, I got a boyfriend just in that. I'll put that check in the account. They said she's at lunch.

I went home. My phone rang. Hour and a half later. Hello? Hey, how you doing? I said, hey, what's going on? Would you like to go to dinner tonight? Absolutely.

I knew that that check, that money, it was the first time I saw what really the type of women I wanted, the type of crowd I wanted to be around, the type of funds I wanted around, and that was when the mindset of, I wasn't thinking in terms of, 10, 50,000, I was thinking of terms of millions, always in a million, always in a million. So I need, it just really just accelerated my appetite, accelerated room for it.

And that was like my first lick that put me over the million dollar mark. And that's really what accelerated me into upping my game and getting into the next level of deals. By the way, the next level of deals, this is what landed me in prison, the new era of dealmaking that ushering. into which was when I got into the condo condo conversions condo conversions condo conversions and that's what really that but the point of that story for me was just it just you know when you're really hustling and you're you're you know when you're like really living that shit I ain't talking about hustling and going home and fucking being home for dinner with your kids and shit like that when you're like

listen, I don't give a fuck. I want to get seriously, seriously paid. I want to put the points on the board. It's like being in the NBA, going to play ball. I want to get on the court. Pass me the ball. I want to show you motherfuckers I can dunk too. Right?

I want to show you that my black ass can dunk. You know what I'm saying? You want to really let them see it. You know, the mindset and the mentality, it starts to really evolve and go to another level. So, I'm going to. flipping contracts, flipping contracts, flipping deals, my whole deal program is gone. But I'm looking on how to elevate this step.

But I'm really, at this point, I'm really am killing. I had a girlfriend at the time, another girlfriend in town. I ended up living with Sharon and I were living together and we're living together. Things just, things were just going south between us. I was in the streets. I was in the street. I was also in the street. the women had changed, the party had changed.

Suddenly, you know, the women were just going out with the friends, the crowd. I was going, you know, I was the first person in Atlanta in 2004, I bought, I was like one of the first people with a brand-new Bentley, the GTCoop, when they came out, the two-door group. So I copped one of those. I still had my brand-new bands. I was just rolling. So my girlfriend and I, we had like a really nice contemporary townhouse.

that, that, uh, that, uh, yeah, remember that L? Remember, we had this really nice contemporary townhouse and, you know, shit just wasn't working out. She said, listen, you're not coming home at night.

I said, well, I pay the fucking bills. Why would you want me to come home? Why would you want me to come home? I'm paying for this shit. She said, what are you talking about? I love you. Just that the other. Of course, I was completely disconnected.

I'm like, what are you, what the hell are you talking about? I'm getting money. I'm making sure you're straight. And my view was, you wouldn't have been fucking with me anyway if I wasn't getting paid any houses. So enjoy the fucking ride. And she says,

no, but I love you. Okay. So the shit, so one day I'm not working, so one day I'm not working. Brutal. No. I mean, this is, you know. I feel bad. I feel bad. No, you know. Because the thing really

is is that when these fucking, you know, when you start, you know, when you start getting paid, And everything elevates, everything moves forward. One group of people leave the room of your life and a whole new usher in. And that shit is superficial as fuck, and you love it. And you love that shit. Did you get the...

One group goes out. I wrote down TikTok. I said, when you get paid. But so it completely. So when she said, I love you, I love you, I'm, you know, I mean, I loved her too, but as a never been anything more insincere said. Well, here's the thing. As my, as one of my kids' mothers once told me, I believe you love me the best way you know how.

I believe you love me much way you know how, right? So I'm at work one day. Again, I wasn't coming back home, wasn't coming back home. I'm living with the girlfriend. Shit is rolling. shit is moving and she comes in one day because I wasn't there and and I came through I guess she got frustrated I'm sitting at the office and the office is maybe two miles from my house and she comes through she walks through the door she says look

motherfucker I'm sick of this shit I'm not going to be taking care of this shit I'm not going to be doing this shit yo motherfucker I'm here for you and I'm doing this for you and I'm doing that for you and she's yelling in the middle of the office you know people are there you know I went back I'm like I said to her calm down now motherfucker we're going to this I said listen do me a favor just calm down let's take a minute I'll see

I'll be right back he says alright walked up walked out jumped in my car drove to the condo we're at the townhouse packed my shit up

put it in the car put it in the hotel came back and was like listen this is not working out we need you all separate way I left When I left that place, I went and on 14th Street to Mayfair, I walked in the door of the Mayfair the next day.

And I asked the lady, I always want to live in the Mayfair. Have you ever been in Atlanta? Is that a hotel? It looks like a hotel. Okay. It was a condo. But in 2003, we're in 2003 right now. But Mayfair was the shit.

Oh, this was just. It's just, it's just had the, all the decadence and all the, all the finishes. And, you know, you had to use the key to get in and all the concierge. It just had the whole, the whole shit. This was, you know, the walk in, you know, in the middle of the city. This shit looked like Park Avenue, right? And I just want, I said, actually at one point, Beyonce had a condo in it. She had sold it by the time I got there.

But this is just the level of what it was for that day, for that day, right? So I go in there And I walk into the Mayfield I was like I looked I'm like this is where I need to Fucking live This is where I need to be

I just copped the Bentley I said this is where the fucking Bentley needs to be This is it So I said to I said to I said to I said to a least office Black shit comes out She's about my age

At the time we're both maybe At the time like 32 And I said to her How much is a two bedroom condo She says, oh, the two bedroom contos in here are 260, you know, she, and she's looking at me, like, $260,000. I'm like, $260,000. He says, yeah, these buildings are high-rise, beautiful.

This is like the pinnacle of the city. It says, $260. I said, yeah. Like, $260, I said, is that the biggest one? She says, yeah. So do you have anything nicer? She goes, but Pennhouse. I said, well, how much is that?

She says, that's $800,000. A huge jump, but okay. I said, I said, okay. I said, can I see it? She looks at me, she says, all right, well, I'll show it you. She's a little apprehensive and shit. I got jeans and shit. She can't see my car and all this other shit.

And I got jeans and dish. I'm like, all right, she's like, all right, I'll show you. So remember, this is this is a shit. I've been dreaming about, but I'd never been in a penthouse. And I'm just asking these shit because I'm meant to explore on the 250. I knew I had that.

But I said, I couldn't pay more, right? So she goes, getting an elevator, she pulls the key out, beep, to go to the penthouse. That beep in 2004, 2003 was, 2003 was serious shit in 2003. I did. Man, that was like some serious shit,

beat. I get in that shit, we start, we start going up. And I'm thinking, as we're riding up, I'm like, man. if they could just see a nigga boy you know what i'm saying this shit is crazy we're just riding up and we're riding up and we get how many floors 33 or 34 this was so remember this is 2003 this is like crazy right at the time it wasn't that big bill this was like crazy we're riding up we're riding up there we got there's like four units there for each corner right

bro she opened up the door to the pound she walks and she opened that shit up it's like the sky I opened up in that fucking penthouse, the floor, the ceilings, the hallway floors, the windows, how they just kind of wrapped and opened up. It was just, you know, I looked, I said the kitchen, the granite, the front, I said to me, I said, the terrace, the terrace was just, you could, the air was so different to him. Three, three, it was three terraces. And the air was, I just said, this is, I looked at her. I walked in there and my heart racing I looked at her

I said I'll take it she'll take it I said I'm gonna I said I'm taking I'm gonna close on it she says are you sure

I said yeah she says okay let's go else and do the contract so we jump back in the elevator we go back downstairs I'm excited as hell It's black chick, you know, good-looking girl.

She's got her suit on. She says, all right, she says, good. So I could tell by her disposition on. She's, something about me just isn't quite, you know, maybe my elk just isn't really resonating with her. You know what I mean? So as we're kind of going back downstairs and we're riding back down through and I'm the idea with her and we're riding down and we're riding down and we come down to the concierge. She opens the door up and I see, I see the white people with the door come walking in. I'm like, oh, yeah, the white people with the dog.

This is the shit, right? I said, this is where the fuck I need to be. They come walking through and shoot their coats and we go into the sales office and shit. And we go there and we send that damn sales office, not sitting in front of her. And she says, all right, I'm going to do the call for, I'm going to do the contract for you now, da-da-da-da. She says, so this one is $800,000. She says, is that your offer? I say, I'm fine with the $800,000.

She says, good. She says, all right, how much? much earnest money you're going to leave i said a thousand dollars not at this level you're not she's like what i'm going to leave a thousand dollars i'm like yeah i actually going to leave a thousand dollars she says listen sir are you going to be here to waste my time i'm not letting you leave a thousand dollars earnest money and i'm not sitting here waste my time doing this paperwork says, sir, people leave 1% earnest money, which would be about $8,000.

For these properties, they leave in 2, 3%, these properties on demand. He's one of our last penthouse left. I said, ma'am, I'm going to close this deal. I'm going to get this penthouse in three weeks. I'm going to leave you $1,000 earnest money. I'm going to close our cash. She says, sir, I'm not doing it.

I'm not filling out the paperwork. I said, miss, just submit the offer to the seller. Who's the seller? She says, it's the company that built it. This is one of the last units they have left. I said, good, even more so. Because you know, and I heard that this is one of the last units they have left. Hold on.

I said, miss, just submit it to the owners and I'll do the, just see what they say. She said, no, I'm not submitting it to the offer. I said, I said, you're a licensed agent. It's your job to submit the deal. She says, I don't care what kind you say. I'm not sitting here running around with this before reading. I'm not doing it. I said, okay.

Why didn't you just put down, give her $20,000? Why didn't you just say, oh, give you $20,000? Because I didn't want to put up $20,000. The reason I don't want to put up $20,000 was that if my deal fell apart and my idea didn't work out, I didn't want to lose the $20,000. Oh, okay. I'm not sorry. I was assuming you had the money.

No, I've got the money. I don't want to lose. No, no, no, I don't want to lose. the money. No, no, no. You're not going to lose the money if it's escrow if it's dependent on financing. Right. But she's not going to let me do it. Well, they're not going to let you do that kind of deal. Yeah, yeah. You're saying you put down, you put down. They want your money's gone. Right, right. This is not at a whole other level. They want that earn this money. And their mindset is like yours. At that level, you should be able to lose it. But you got

to remember, I'm got, shit, I just got some on Boulevard. This is no way, you know what I'm saying, I'm thinking $20 is totally differently. So what I did was, what I did do was, I went back, I left, I went back. I got my assistant, smart-ass girl, a brilliant lady named Teresa. She went, I said, yo, find that fucking company that developed that. She went downtown, researched the company through the tax records that actually did the development itself and who the owners were of that unit, which was the company.

They were in Israel. They did these things all over the country, these concepts all over the country. She reached out to a guy named Udi, if you're watching this, she reached out to a guy named Udi reached out to Udi in Israel and then left the message for Udi to call me I called you I said Udi look told me I was

I'm Dossi Riches look I can close this deal in three weeks how long have you had that property sitting there so we had it there for like nine months some shit like that sitting there I said Udi look I can close it sitting there it's not making you any money I said I give you the $800,000 I could close it in three weeks

I've got a program because I have 100% stated program. And it was a jumbo type of deal, but I had it, right? And I already knew it worked. So I said, let me just go ahead, get the financing, make her take the earnest money. So for the sort of, he says, let me call you back.

He calls me back. He says, listen, I'll do it the way you want to do with those terms. He said, but give me $8.25. I said, no problem, Oudie. I'll give you the $8.25. He raised the price on me. I said, you do me a favor, though. I said, what?

I said, when you come to closing and we close two things. Number one, I do not want that lady that was there under any circumstances to get a commission. And two, I do not want under any circumstances for her to be at the closing. He said, you're closing in three weeks? I said her closing. I went back, got a friend of mine, Corrine, who I did business with. She was really successful, beautiful designer. Her and I were doing a bunch of deals together told her, listen, I got a deal here.

I need you to put the property in your name. I'll come back. I'll refinance. Gave her a few bucks. we went back there with we went back she went in did the paperwork

did the tunnel three did all over processing did gave all the products in we had I already had the loan product I knew what the product was we sent it to my out loan officer he went and processed the deal

when he processed that deal two and a half weeks we were sitting out of closing with Udi I think I still walked away from the deal because the way it was praised still pulled a little bit of cash out

because it was 100% financing had maybe about another $25,000 Like $20,000 to $40,000, I use that towards decorating, went to that deal, close the deal in like two and a half weeks, two and a half weeks, three, two and a half weeks, give or take from there, I am walking through that lobby with my bags, me and Teresa, walking through that lobby, and we are walking through the door, brother.

The niggas are here, you know what I'm saying? Coming through the door, going through that lobby, going through that door. coming through as I as I walk through the lobby the sales office right here bro and she's sitting here I said God how could you bless me like this

she's sitting there I had the bags I looked at her hi I wait you know you wait the bag hi how you doing just want to say hello to everybody I'm the new owner

of penthouse 30 105 or some shit like that and she just gave me the look of death I went and I moved into that penthouse. And when I moved into that penthouse, that's when shit got crazy. That's when shit just went to another level.

Property levels dropped by 20% about property values. Believe me, and the parties were crazy. They sure did. The parties were nuts. My cousin can tell you, we have, oh, my God. All those white people with their little dogs, picking up their little dogs.

They were showing up. They were being in the parties. I was shocked that they would be in there. The office across the street from the penthouse in another high house, the higher house, the higher house, the high house grocery out of the road.

So, yes, I had moved there. So, wait, can I see you, who was that you said me and Teresa? Who was Teresa?

My assistant. Oh, okay. I thought it was the girlfriend from the old apartment. No, no, the girlfriend from the old apartment was gone.

She was done. Oh, no, it was a whole new crowd. Again, I went through like several new, this thing just kept, See, and the crazy thing was...

But you survived every purge. Is that correct? I'm way smarter. And it evolved. And we were in that penthouse. And this is when I went into the condo business. This is when I went into condo business. So little did I know, going into the penthouse,

going to the condo business, within 36 months I would be in prison within 36 months, I would be in prison and 36 months I would be absolutely broke in prison

life gone up in flames and I would find myself sitting across from you in the fucking child wall I see, as they're leading them out in handcuffs, the sales assistant, and he's like,

ah. Oh, he's in the cross with your NHL. Well, so this is, but, so you got to remember the condo business, I was trying to make money,

money. I was making money like a moment. Yeah, I was making, I was making well over a million dollars a year, but I wanted to get, I was trying to get in, right? And I knew how,

so I'm really, reading this, I read all the time, right? So I read this book called, Great book, by the way, but I'm going to give your audience a book. Don't hurt yourself. Well, you got to know what to do with this book. But the book is called Barbarian. I read two books.

One is called Barbarians at the gate. I remember this book. I remember you talk and telling me about it. You have to understand that this part of this story, I've heard several times in prison. Up to all this stuff, I kind of, I didn't really, I've never really heard it. You know what's so insane is like, this is by far,

It's extremely entertaining. And you haven't even gotten to, like... This isn't even real fog. That's what I'm saying. Most of the times we have a business guy. If we have a business guy, it's spanned. It's boring. Yeah.

I mean, these are up to this point. It's all been business stories, but this is... Just this alone would be a great podcast. Yeah, yeah. So, it's going good. I'm sitting here and think the whole time, I'm thinking, ch-chee-chee. I'm like, this is going to be a good one.

So, so, yeah, so I move, we're moving in, and I'm really, really trying to get in. So you got to remember by this point, I'm hanging out with Kim Porter. I'm hanging out with, uh, uh, I've become friends with like people like, people like, and these are people you might have heard of. Kurt and Rashida, what's up? You know, Kurt and Rashida, they, they, uh, right now they have a, uh, they have a Kemp up Atlanta, all these different, I'm meeting all these people across the board. I'm hanging out with, I'm with, I'm with, uh, uh, uh, Kenny Leon. I'm, uh, I'm at, uh, at the theater with Felicia Rashad. I don't remember it from a Cosby show. So this is how my crowd has like really changed, right?

Right. So, um, as, as we, um, as we go through, as we go, as we go, so as I'm there, I read a book called Barbarians at the gate. So when I read the book Barbarians at the gate, I read another book, And the book was, I don't remember the name of it, but the book was about a guy named Sandy Wiles. Sandy Wiles, he started Citigroup. Well, he started, he started, let's just say Citigroup.

But it was Citibank. He bought Prime America. I think Sherston and Lehman, it was another brokerage house. It was a, it was a conglomerate of financial companies that did everything from insurance, hence Prime America and brokerage. houses, which was Sherston and Lehman, and the Citibank was obviously a bank. It's a big bank in the northeast of United States. I don't know if you've heard of it.

I'm sure you've... Yeah, I owe some money. Right, right. So what the part that stood out to me in the book about him was he goes into when he bought Prime America, the owner of Prime America was like this gregarious, charismatic kind of leader, and he talked about the business of Prime America, how they sold financial insurance, how they sold the whole insurance concept. The other book,

the other book I read Barbarians at the Gate. Barbarians at the Great was a story about Michael Milking when he left for Drugs, Abraham, and Lambert, and they focused on doing corporate, he focused on funding, merge, uh, focus on funding corporate raiders. And they're in essence, what they were doing,

buying companies, which again were conglomerates, and they were selling them off by pieces. So here's the problem I had. I would always, I would always have. have like a couple of, a million or two liquid, but I just had trouble renovating houses all over the place. Especially back then, I was never particularly a great renovator. But the thing was, when you're buying all these houses, you've got a house over here, you've got a house over there, you've got a house over there, and you're trying to run these projects to double, let's say,

$2 million and take it to four, the renovations, you're a rehabber. You're creative. You're a creative person and you're detailed like that. But for someone like me, I can, not manage those projects like that. I'm not detailed like this, especially the way I was doing them at the time. And it just wasn't my thing. I was more of a sales deal structured during it. So I could never turn by. So what I realized was, wait a minute, people are buying houses. I can still renovate, but I need to renovate and with a simpler process that allows me to scale quicker and faster. You know like an assembly line. I'm like an assembly line. I'm not like an Assembly that, blah, blah, blah.

So what I realized was, as I was thinking this through, I read the book Barbarians at the gate where they were buying the companies, breaking them off, and then at Prime America, where they had the people doing the MLM for Prime America, which is a multi-level marketing, where you bring someone in, they bring someone in, they kind of run it out like that.

So what I realized was I looked at apartment complexes, and I said, wait a minute, these people are buying these condo conversions I mean buying condos all of it I have people talking about condos condos condos condos then I thought I said wait a minute how much is the average condo was let's just say 250 at the time

but you had these other buildings that people were buying where the average condos there was like 150 well how much can I get the apartments for $25,000 a unit I'm like $25,000 a unit if I get $25,000 a unit I could renovate back then for, let's just say, 50,000 a unit.

I could turn around and sell. You have soft costs. You have closing costs. You have holding costs. But if I'm netting 40,000 off a deal, $40,000 off a deal, $30,000 off a deal, that could work. So we started looking for deals. Well, when we started looking for deals and I started working with other bird dogs

and we're calling, we're putting together deals, I started seeing properties all over town back then where I was getting them for like 20,000 a unit, 25,000 of you. I'm like, oh, shit. How many units? Anywhere, my smallest one was 20. My biggest one was 144. And then my,

then I was buying tracks of land. I was getting rezoned at the time where I was building 154 units. I got that rezoned. But I bought the land cash. So I had money. I just had the money. So the money allowed me to get quick, fast access.

So I would buy like a track for like 800,000. I'm on here. I would buy, and then I started buying the other properties and bringing them together. So what I did was I did a deal. I did one condo deal. It was a 20 unit apartment building. So I bought the 20 unit apartment. I got the units for like 10,000 a unit.

No, it was less than that. It was something crazy. I got the building for like 300 grand. I got the building for like 300 grand. It was 20 units. By the time I renovated, I saw each unit in there for like 130,000. I went, I did the deal, renovated the deal. got the property, sold the property

to investors. So I did was I created like a multi-level marketing concept like same way Prime America did. It was called fire your boss. So you bring someone in, they'd bring someone in. And Prime America was giving these people like 40 bucks or like 150 bucks for insurance. I said, listen, you let me sell a condo

you get three grand. You bring someone in and they sell a condo, they get three grand, you get 500 and then the third tier down was like, let's say 150 bucks, right? People loved it. It instantly took long. So it took off so fast And when I did the 20 units

After I paid I renovated it The place is in great shit It cost me like 40,000 unit to renovate So give or take 40, 50,000 I did the renovation turn off sold out I made like $1.3 million in like 90 days Profit

I was oh shit This was like This was just like It was just unbelievable I got the building Did the renovation I had the home with falls I just upgraded it

Brought my appraisers in You know And then they just did the appraisal on it Turn around, the network marketing group started selling it. They made all that money from the sale, bringing their friends and groups. All we did was turn around and lease it out. It was like their little own investment property. And the funding was flowing for easy funding.

Some of those people were getting into 100% financing. Now, I was assisting something with the down payment. It's going to happen. So. Nothing wrong with that. Everybody's doing it. Everybody's doing it. So I was assisting with them with the down payment.

But the deal went through great. I made well over a million dollars, the first deal. the first build one thing so when the first deal went through for only thing was going through my mind was how much of this can i do that's the only thing i could think of like how much of this can i do so let me back up a little bit relative to this story there was a uh a guy named uh there was a guy named show horresh i was going to tell you to tell that story there was a guy that Is this the hard money lender? This is the hard money lender. This is the hard money lender. This is the hard money lender. I would have tell him.

So, right. So, right, there's a couple of things with Judge Rush. I didn't remember that part, but thank you for reminding me because I'm going to tell that part as well. Also, I'm going to tell you the Joe. So hence, pause right where I'm at on that first part of start. We're going to get, we're going to bring Joe Horace so you can understand how he played a part in this. When I got into doing deals and I got into flipping contracts, flipping.

deals. One of my main customers was a guy named Joseph Rush. Joe was about a year older than me. Jewish guys super smart, super smart. He just understood how to do deals. And he had to start negotiate deals and he had way more, he had a stronger knowledge based than I did of the deals.

I was selling the deals because he had the money. Joe had the dough. So I would sell Joe deals. Listen, bro. I love Joe. Joe was my, I mean, Joe was somebody I just really liked it was just something about his demeanor he was he was uh real calm real cool had a great family and we were hustling deals you know I was selling the deals I'd find I'd do all the legwork bust my but again out of Joe I was making $12,000 on some deals I was making

10,000 I mean this was great cash coming in on my so this is like me when I originally started flipping contracts coming through Joe's one of my best customers so the thing was was that as I'm as I'm doing these deals Joe's what I'm doing business but as I'm expanding in my business, so was Joe. Joe ended up opening banks. Joe ended up creating these equine lines. Joe had a process where he had a group of bird dogs bringing deals in. He had a marketing team that he, that was marketing to bring new investors in.

The bird dogs brought the deals in, the marketing group brought the marketing people, brought the buyers in through seminars and he had the bank loaning him money out of a low interest rate. And he was turning around and by using credit lines to loan him. his buyers, the money, to buy his, on a higher straight to buy his deals. So he was doing it twice. He was catching the money off the deal because he called himself now Hard Money Lender. He was catching the money that way.

And he was also selling the deal, so he was getting a spread on it as well. Also, he just made sure they qualified to refi out the deal because he wanted them to be able to exit off of the deal. You follow me on that? So he wanted to be on exit. So he did this. So you got to remember, they have revolving credit lines of like $50 million. They just had the cash coming in.

So again, his team would be advertising deals through deals with like 3% down because he was able to give him low down payments. He'd give him a great deal. He had one group filing a deal. It was a printing press for money when the market was good and when the financing was good. They brought the buyers in. The buyers would buy the deals. He had a team bringing the deals for the buyers. And guess what?

I'll loan you the money. So he was able to pay himself his own spreads, able to give himself interest premiums because he also loaned the money. the money to buy as they'll spread, their premium, and then they refinance into another deal, I mean, refinance to another loan, and then get his money back to start all over again. So Joe was making a fortune doing this process. So as Joe was doing this process,

as he was coming through doing his process, Joe was making millions and millions of dollars through the years. So I kind of stopped finding Joe deals because my process had picked up as well also. So now, hence, going into these deals, moving forward with Joe, Joe's a big lender in town.

Joe's dealing with some of the major people like, I'm the National Bank. He's on that level. He's doing all these deals. His name is just ringing bells all across the city. Everyone knows who he is. So me, at this point, myself, I am now doing condos. So what I did was I did the deal I made, again,

I made a killing on that first deal that I did. I had my guys find me a bunch of deals. My guys found me a deal that had 144 units from the guys. I named Moshe, Moshe had a 144-unit port. I got the deal at $25,000 a unit. I turned around, I had that deal. I had another deal where I was going to do 100, where I bought the land.

I was going to do 100, excuse me, I was going to do 35 houses there. Again, I just wanted to move the units and get everything built and to move. Because my goal was $35,000 of everything, $35,000. Then I had the land that I bought that got rezoned. for the 154 units, I was going to build the builder from there. And listen, and the people who set me up to do this deal,

they have just done a $50 million deal across the street. They had set me up, and I was part of this big community. They had this big tax credit program that they did. But the point is I got the land grade, I increased the value by getting it rezoned. I actually increased the density of properties. I created all this equity in it, which made it much easier for me to get financed.

I created the density in it through the rezoning, which was a big deal over there. So I got that deal. I had that deal I was going to do. I owned the land. I just had to get it built. That was my few new builds, and then I had the homes there,

and then I had the 144 unit there, and then now I need to get the deal with finance. So at the time, I probably had liquid at the time, $2.5 million. So the profit from these deals that I had all together. So all, well, I'm looking for, before I tell you that, I'm trying to get the rest of the finances and take down the 144 unit.

the 154 unit and the 35 unit so I go back so Moshe's trying to help me get finance because he has his big building in the world too he gets a big payday if he can get me finance he has a big name in town

he has a this guy was like a builder a Jewish guy who was a builder in Atlanta he had properties up and down Piedmont he in Midtown Atlanta he's going to kind of jumped off that Piedmont strip of building those midrises so that's what did he was a developer like that and he was getting me set me he was go so he took me to

omnidational bank which the place i had done hard money to those for years he took me there to see if he could get me to financing for his building mind you i had these i had the equity with these other deals so i had the equity there with these other deals i had some cash you're trying to bring me to this deal they um they spoke to me really fucked up in that meeting you know went to the meeting they knew me there was a guy there uh i never forget a guy they named avi and you know he took me there because he liked me and he had the big name right and he said listen I'm selling DJ to steal

so I was always in the hard money department so now they brought me down to the commercial banking department but this is private banking these are like hustlers who got some serious fucking money so they knew me from the hard money section they did all the but they had a private banking section as well too so he takes me down this is his area the private banking section where they do for developers and development

So he's introduced me, God, and Bobby says, yeah, DJ's going to do this big picture of like, like, like, like, fucking Al Pacino, like a painting of Al Pacino there. And these motherfuckers look like gangsters, you know what I mean? Like, they're bankers, but they look, they look and feel like gangsters. This is like, they're in the hard as their team is there. And I'm sitting there, and I knew who Avi was. I'm seeing him passing by upstairs. So he's sitting there, he looks, he says, he starts speaking in Hebrew.

right to Moshe so as he's speaking at Moshe in Hebrew Moshe's looking at him and then Moshe looks at me and he's looking at him and he's speaking and but I could tell about his body language

you know the tuberous the arrogance yeah it's rude first of all it's rude just to fucking have that conversation and his body language really was like oh fuck this nigga right that's what I got from this shit right

just fuck this nigga so but I'm sitting there and I'm with Moshe. I'm here with Moshe's the man. You know what I'm saying? So I hear Moshe's saying, so Moshe spoke a little bit in Hebrew. Then he came back and he said, nah, he could buy the deal, he's got some money. So I seem calmly

walking his story. He's buying the deal. He's buying a deal. He got some money. You know, he could do this, he could do that. So, Avi says, nah, never looked at my, never, I mean, I had some plans and she like that. Never really looked at the plans. Never really gave me a shake, just kind of super dismissive, but not only super dismissive, gave me the

Konte Kente look. If you're black, you know the Kunti Kente look, right? It's like, nigga, get the fuck out of here, you know what I mean? That sort of look, right? So I sat there with Mosei and I said, Moshe said, listen, let me talk to the guy a little bit further, right? By this time, you got to remember

I wasn't Mosei and I wasn't Avi, but I was getting money like a motherfucker too. You know what I mean? So I was like, fuck him. I'm like, first of all, I don't fuck him. I'm like, I'm not going to see him from this guy. I mean, I'm sure he was making money, but I'm like, fuck him, you know? So I went, I went to Mosh, I said, look, Moshe, I know somebody.

I know somebody who's loaded. And he likes me a lot. You know what I'm saying? He's like, look, I was talking about Joseph, Horesh. So I go back, I called Joe, I said, Joe, look, I got these deals, I'm doing this, I'm doing that. I've got this going, I need this going, I got these deals. I need the financing, do the construction. I need the finance to do this.

I need the acquisition money. I need the construction money. I had the deals, blah, blah, that. So I'm telling Joe the whole deal. I showed them where I made off the other building. Showed them my HUD statements. Showed them my accounts. I went, dad, sat with me.

He said, so he's there with his partners at their meeting. So this is what we just kind of running through him. So as partners, they're looking, because the money sounds crazy. I know that they're like, is this guy real? Is this real? So Joe sits in, Joe says, no, this is, this is my God. He says, no, this is, this is my God, nah. He says, I know this guy.

He said, this guy's telling you the truth. He said, first of all, I'm looking at stuff. He said, I already know what he does. He says, nah, he's really getting it like this. So he says, they go back, they talk. He calls me, calls him back for another. He says, listen, tell you what, I'll fund your deal. But this is what you have to do.

The process that you have, I love it. I've got an apartment building. I need to get rid of. run my apartment building through your system as well also. So I said, all right. So he says, here's how much I want to give. Here's how much I want for it. Pop, pop, pop, pop, pop, boom.

I said, I said, all right. So I looked at the deal. I'm like, well, I'm only like $8.5. We did the numbers like, draw me like $8.5 million to do all this stuff, right? To get it going, to get it moving, to get it moving across the board. The money was recycling. So the way it kind of worked is the money kind of came for some of the acquisitions, The 154 unions, like $4.5 million itself.

But then they get the project renovated and it get the product. So it was the point of it getting renovated to a point in this point where the sales start feeding the deal itself. But it had to get the momentum and get it up to that point. So it was about $8.5 million, give or take to get it to that point. So you had the acquisitions and then you got a certain amount of development that had to get done so we can start cash flow off the units that sold. So I said, all right, cool.

So I went and I brought Moshe. I said, Moshe, I want to bring you back to Joe. we're going to put this whole deal together I said Joe's my god so we go in the room we're sitting there and it's me Joe Moshe we start talking about

we talked talking about the deal this time now I'm in the room I'm in control of the conversation because Joe's my guy and we're going back and forth we're talking about the deal I'm explaining the deal Joe's explaining the deal we're explaining back and forth

Joe's explaining the deal so Joe starts going in detail about the deal so remember I'm a I'm hustling I'm getting money I'm making this whole all these deals work, I understanding the process, but Moshe and Joe had a more in-depth understanding about real estate finance, about real estate sales, and on the financing side in terms of how, what the impact of interest rates relative to a loan, relative to, because it was accruing, because I didn't have to pay out at first, it actually would

be sales coming in, the sales coming through, but there would be an accrual. But they had that accrual compounding. You see what I'm saying? So it becomes a very difficult nut to cry because it's kind of compounding on itself. So they are just so they just really, uh, Moshe really understood the impact on it. But I was hungry to do the deal. I said, fuck it. I can outsell and outpace it.

You know what I'm saying? So when we left that deal, myself and Moshe, and we left that deal, Moshe looked at me. Moshe said, yo, man, listen, you know, I really like you. you. He says, I want to sell you this deal. He said, but I don't like that guy, man. He said, I think that guy's won't screw you. I said, Joe? Are you kidding me? Joe, screw me? I'm like,

nah, why would he screw me? Joe Horace? Joe's like, he old at me. And we're all about the same age. I'm going to show he's about yield him. I said, I've worked with Joe through the years. I get the whole strength. He says, yeah, he says, but I don't like that deal he gave you. I just, I just, I just warned me. why would somebody give you that deal the way it was? I said, but I've seen those rough deals before. So I said,

I can get through it to that. He said, all right, cool. We put together a deal. We do the offer a lot of intent. We do the whole deal. So now the deal is cross-collateralizing all my other assets. Remember, I have free and clear assets in that deal as well also. So it's the $8.5 million. But remember, I bought that property where

the warehouse was building the 154 units. I got that property below market value. I created that equity. I probably was worth like 1.8 million at the time. So I put that property up. I put the, I had the land deal up. And I think he had me put like another million dollars.

So I was getting like 8.5 million, but I was still into it for like three million myself. Right. Then. But that puts you in a bad position. If you're in a position where you need to tap the equity, if anything goes wrong, how do you tap the equity of the,

if all these other parcels are encumbered? by the deal. You know what I'm saying? Like, if you got an asset here, like, at least if I get into a crunch where I need money, I can go to that asset. I can go to this. He's tied up all your assets. What if something goes wrong? Something did go wrong. Right. Right. You also said you had a couple million in liquid. Right. But remember, is he lending you the money for the renovations or are you using your money? Or you're using your money to do all your other deals? So remember, I started to run the company. I still put up like another million give or take in it.

I still use my other assets up in there. So remember, he loaned me $8.5 million. I really went out with my cash on this damn deal. I had a few bucks left, but I really didn't deal between my team, my staff, getting the deal together, going through zoning, getting zoned, literally just sucked up my cash construction. Well, we didn't get to the construction part yet. So I was in this deal all.

All the way in, but Joe's my guy. And Joe did the loan. And I looked up my numbers on the deal. I was making profit on the deal, profit. I was making somewhere between, somewhere around $7 million off the deal. Of all those properties together, I was walking away with like $7 million. A lot's got to go right. A lot's got to go right.

And, but I knew the pace I could sell it. I could outsell this motherfucker. Let's just get this shit. Go in. What year is this? Right now, I am in. in 2004. We put the deal together

as we put the deal together across the board. I start getting going to go after the first project which was the 154 unit. Yeah, that's where Blue Sky, right,

went after that one for it. Blue Sky went up there first. So we go in, my cousins running the projects down there got another developer, nothing. We're all down and we go in we start renovating, start renovating, start running. So we start renovating,

so you got to remember, this is an apartment building. So we're, these have like, this is a massive apartment building four acres. So we're taking, so these, Each building has maybe, what, 10 apartments, 15 apartments, something like that?

Eight apartments or 12 apartments per good. But we're taking it, of course. We're doing full gut renovations, the whole thing across the board. So I'm having trouble getting my, so I go and I put in for the drawer. I can't get a drawer from Joe's slow. No, let me back up. No, we did Bradley. We did Bradley first.

We did Bradley first. We did Joseph. Joe said, do my building first. Right. The real joke says, do my building. So his building was in prime location. I own the building now. But his money is in the building.

They already started doing the granite countertops, the base, the this, the that, all this shit, of course, were the big floors. The whole thing looks great. We didn't get to the other ones yet. So we're trying to get to the other, we're trying to get through the renovations,

trying to get through the renovations. So as we're getting through the renovations, we're trying to get through the renovations, we're renovating them. They start selling. So we start getting to sell here. We start getting to sell there. It starts picking up.

The MLM team is coming through, coming through. So as they're coming through, we start trying to get the money for the drawers. This guy won't give the money for the drawers. He's moving slow on each draw. I'm like, Joe, we have the momentum going to, I don't understand. You know, Joe's doing all these other deals. So we go, we're renovating, renovating, renovator.

Again, Joe won't do the deal. So finally, I'm like, yo, Joe, what the fuck is going on? You've got me in this thing for millions and fucking dollars. I need the draw us to finish the construction. The building looks great. People want to build. They're buying the building. He's getting the payoff because he funded it.

So he's getting the payoff money. I'm like, where the fuck is the fucking, where's the draw for us to finish the renovation? Yeah, we call them down. It's once you, oh, I couldn't reach you. Oh, I'm busy. You know, the spin. Oh, I couldn't do it. so now it's killing me because you know i can be an aggressive person so it's killing me i'm like

oh my god joe don't do i just to throw it of my relationship going there with him it's just it's just and i realized something joe and his attorney had attorney named john they took they wouldn't give me the money they were running me to fuck around i'm calling like yo listen i've got uh $50,000 on contracting bills. What the fuck? So, but again, he had a lot of units already done. Beautiful grandcount. These buildings were selling for $2.65.

They were done. They were nice. People wanted them. We just had to finish. Finally, this motherfucker I realized, I said, oh, this motherfucker is not paying me. This motherfucker really is just not fucking paying me. So I said, well, let me teach Joe a lesson. So we called Joe down in one day.

We said, Joe, listen, we want you to come through and fucking come take a look at the, um, property see the progress he says sure no problem he comes down there when he comes down there it comes down he walks into the uh walks on the property i said oh yeah joe let me show you the unit i'm sitting there he says all right cool we get up i said it's right in here we i said look at the progress we have we open the door when we open the door up fucking as we open the door joe steps in so he stepped in somebody was right behind him locked the door cut off the lights three mask guys come out with fucking slay hammers boom boom boom boom

destroy a $265,000 unit boom boom boom boom and then y'all next time it's going to be your head motherfucker give us our fucking money right so they destroy the units destroy just boom boom boom boom boom boom give us our fucking money

and he's standing there like literally pissing on himself right don't fuck around And I'm standing right there next to him. I'm like, Joe, stop trying to rip me off. You're going to end up. You're not going to end up on a wrong note, right? He leaves.

He leaves. We go back, he calls me to his office that money. He says, all right, I'm going to play nice. I want to play fair. He says, I'm going to start paying you your money. I said, okay. One of two deals, we keep these deals going. We keep these deals gone.

He starts pulling the money out again. He starts he won't pay. He won't pay the construction. Now, mind you, I've got, I'm going to, I've, I've collateralized all of this stuff. Then it dawns on me. Joe can foreclose on me if I don't meet my deadlines for these deals. And then I'm kind of thinking, I'm kind of looking at it again.

I put up all of these properties, the land for the 35 homes, the, the rezoning I did for the 154 unit, the cash is cross-collateralized. and Joe is giving me like 30,000 here, 20,000 there, 50, I'm like, I'm like, what the fuck if I got myself into, I mean, this guy's going to just wipe me out. And I've appealed to him every which way possible. I just felt, I'm like, I can't get this shit done. I'm like, he's going to fork. I already know this is, he's ominous, his intentions are shit. You know what I'm saying?

I mean, this motherfucker is just done. And then went back to Moshay. Mosh said this guy is going to, I remember thinking back in my head, Moushay said this guy was going to fucking screw me. So I came up with an idea. I never forget. I was standing on my terrace in my penthouse, and it just dawned on me.

Listen, bring your guys back in. What we're going to do is we're just going to run cash outs on the whole property and come back and fix the units. We'll circumvent Joe. I already knew my attorneys, they were, my attorneys were crooked as a day, long, right? And then I had the appraisers, which would mark up anything under the sun. And so what we did was, I got the MLM team pumped all the way up. We started doing the means,

hey, come on down, buy condos. What we're going to do is we'll sell you the condo. Once we get the cash off the condo, we'll go back and we'll fix the condo. And then once we fix the condo, we'll take off that way. Right. And you've already got several of them rented so you can show them. We had a model. We had model units all. We had model units on each price. And you've already got several of each property. We had the model units from there if we weren't partying

the model units if you know what I mean. Right. We had the model units there. We had the home they had to mount the whole thing from there. So what we started doing

was selling the people we're selling the people in Florida. With the MLM, we're selling the people up and down Cali. We're there parting our ass off from San Francisco

fucking sign and condo docks up and down. I was the Highway 1 and California whatever that desert is something off in all these correction officers. They were buying the condos left and right.

So we're selling condos up and down, California, some in New York, and they're buying them. So what happens that? The attorney's like, look, I'm getting a few extra dollars. And what they're doing is they're not even letting Joe know they sold because Joe has the note on them. They're just giving me the money to go back and fix it. So now by this case, so if we're selling three condos a week,

we're picking up like 300 grand a week to come back and fix, to come back and fix, to come back and fix. so we're going back and we're fixing them now are they always getting fixed quick enough on time no they weren't it's just when when you've got the cash coming out you've got to get through the construction I bid off way more than I could chew because of how to deal with structure I didn't have the space I didn't have the time and now I'm doing these damn cash shots we're getting them fixing the people in but we just are not moving quick enough so these properties that are going in They're getting appraised, but they're not done.

And they're not moving quick enough to get them done across the board. It's just a slow machine. And I've got issues with the contractor because these are my first projects of that size, right? So you got to remember, these are big apartment complexes. We're trying to blow right through them. So, but again, I'm making, you know, in the process, of course, I'm seeing a shitload of cash, like literally from just gross cash. I was literally like $300,000 a week.

It just gets crazy. Literally, we're going to the bank picking up. The money, they didn't even unpack the money. They used to take the money, money, and banks come in big plastic bags. And so you have the smaller bags, which are maybe like $40,000, $30,000, and they are bag. And they come in a big bag. And they put them in a big bag. And that's when you get done to $2.50.

That's what it was. I remember he used to go pick them up. 250. And they would just wade the bag. They don't even count at that point. They just weigh. So they come there and they just drop our weight on our bat. Boom,

we just snatch a bag of money. It'd be like a quarter million dollars. So that's how this shit was rolling, right? That shit was coming in at that point flowing through. So we're rolling. And then, of course, you know, I was buying Ferraris and normal trappings and shit like that. But we're going through the project across the board and failing quickly.

So as we're getting the projects done, we're getting them done. We're moving them. through we're trying to bring other projects online we're getting these other deals done we're trying to get this stuff killed Joe has no fucking clue he thinks every now

that we tell him oh Joe we close one he's like oh great he says this is really moving slow yeah he's thinking you're this guy's gonna go under you think this guy's gonna go under he doesn't know I close 30 I already got 3 million 3 million off this shit already I'm trying to

play it back in by these I got 3 million out you see what I'm saying you know my mentality me back then I didn't get a fuck about anybody but saved my own neck right so I'm thinking we go through we're moving through move through so he doesn't realize he doesn't realize so as he's going through we're pulling the cash out we're pulling the cash shop but I still have the momentum of the banks because we're closing really fast we're closing really quick so I'm still getting there but I'm not as quick as I should be but they're getting in man just slowly moving

that I'm trying to refine my closing ability. So the way we were is that we were in two of my condos at another property on Bradley. We had two offices there and we'd be the team there was a closing room

with closes that was there and we had closing boards up there we would mark all of our deals through the closing room. Then we had a team in the back process and everything through the contractors, bookkeeping, so on and we're going through this process

closing, close and we're getting through. I'm like, yo, we could win this thing. We could bring this thing off and the money's coming in because at the end of the day, there's millions of dollars we had if we could just get there and we're really moving through we're trying to get through and as we're going through the process this is we're like two years into this now two years into this process but it's moving we started getting a little bit better

we had like seven or eight loan offices closing and the loan started getting a little delay so we process process yo how come these fucking deal isn't closed we're down here trying to close Well, the lender, H.J. Wilson, mortgages, they went out of business. What? They went out of business. What the fuck are you talking about? And what years is this? We're now up to 2006.

Right. And we're doing the loans, doing the loans. We have like 20 lenders. We're doing the loans, doing another loans come through. Again, this thing is like, how come this deal hasn't closed here? We've done 30 deals with these guys. They just went out of business. What?

The lender? They just went out of business. They just went out of business. And I remember sitting here looking at a board with 25, 30 deals on the board. Orca, you're talking about millions, literally, in closings. Every mother fucking lender. was closed. The only one that was hanging in there,

they slowed up significantly was Countrywide. I knew you were going to say Countrywide, too. Countrywide was the only one barely hanging in there. And I remember sitting there looking, they were like, they were like, it was a fucking IV drip. Countrywide was like the ID drip, slowly keeping us alive.

Close here, close there. So I'm looking at this. Now remember, You're talking about every lender in the secondary market fucking gone. And I'm thinking to myself, how come this isn't on the news? This is, this is, I'm like, the whole secondary market just closed. How come this isn't on news? So we're still trying to hang on with the deals.

By this time, I say to Joseph, I'm like, by something like, Joe, I need to move this property. I need to sell, because the banks are gone. We need to sell his property. Joe says, all right, well, let's get the property going on. He says, I said, well, look, I need to get this deal sold off. And he says, all right, he says, well, you got all these deals left. I said, well, Joe, those deals really aren't there. He says, what do you mean?

They're not there. He says, well, they're not there. No, I need to pay you off to get you out this deal. So we went through the deal, went through how many was really there, how much was really there across the board. He found out that everybody was undercutting them because they were at. to tell him because I had to pay him out and I said if I could just get them free and clear I can kind of move it through so we make a deal where for the building that was uh he would release my other properties and the building that was left there from yourself those units I had to

give him like uh because of the interest accrued and he was killing me and I just wanted to get him out the way and I didn't know what the repercussions were for what I was doing I had to give him like two million dollars something like that and I had the two it was like my last two million dollars because the bank I sold up, I had the $2 million. We counted up this $2 million. I was like the $2 million I had. A million of it was in my house, right? The $2 million, right, a million of it was in my house.

They had to get the rest of the money out of the bank. And we're packing up. We boxed me together. And we go to the lender and at the lender, we close it, and we get Joe out the way. Well, while we're doing this and getting Joe out the way, I said, all right, now I'm going to sell these deals up. I call this guy riding him up. I said, listen, I need an assistant. I need an assistant.

I'm fucking getting my ass kicked here. I got to get these units sold off. I'm trying to get, I've got these units left. I suddenly even go, now it's on the news. Lenders are, banks have closed all over that. The market has crashed, da-da-da-da. The bank finance, now it's all over the firestorm. If banks are closing, da-da-da-da.

This is like the Great Depression, da-da-da-da. A year later, it hit the news. When they announced that the market closed, this really happened a year. prior. Right. Yeah. They, and they waited a year, and then they announced it. It really happened the year before. So, as they're saying, as, as, as, as, as, as, as, as, as, as, as, as, as, as, as, as, as, as, as, as, as, I need some help. I need some help with what's going, what's going on. It says, I'm losing these properties, I'm, the, the properties, the market is in the toilet. All the values are shot down. All the banks are closed. I gave Joe all my

money. I, you know, the, but what I thought the bottom was, I wasn't remotely. close. The bottom was, at this point, what felt like infinite. Everything lost its value. I couldn't sell shit. Yeah, well, nobody wants to lend. Nobody's lending. Nobody's lending.

And nobody wanted shit. The value, the value went, when suddenly our condos was $2.50 is now worth $10,000. Literally, $20,000. That's what they were doing in the hood. That's what was going on. So I was wiped out. This lady, we're trying to do. We're getting on cash.

shout out done here. He sent me over this new lady that came through. That's really doing well. She's helping me out. She's really supportive in the process. And she's moving money back and forth with me. You know what I'm saying? She's helping put money in my mother's setting money to,

I had set my mother to somebody help her out, some money to family members help them out. We have money coming through, you know, just to make sure that shit is going through. And as we're doing this, but I'm broke. And suddenly I can't pay my mortgage. my mortgage was $7,000 a month I paid my mortgage fine for years

suddenly I couldn't even pay my mortgage I'm like this is fucking crazy and I'm sitting here I had to go live with my girlfriend at a house that she had owned on more than that way I'm sitting there in the house I'm like what the fuck is going on

the whole shit is falling apart it's like 10 o'clock at night my whole world is fucking falling apart and as I'm sitting here thinking I can't get out of this shit and I've got a bunch of cash outs that are un-renovated now I'm thinking

the feds ever see this shit i am done i'm going to fucking prison as i'm like if they see some shit like this as i'm doing that the phone rings 10 o'clock at night i look over it's jose joseph's lawyer calling me i'm like this could not be good that's all went through my mind this cannot be good ring ring i answered the phone hello hey dj this is john i'm thinking myself you fucking pieces of shit while i'm this problem hey john what's going on hey just wanted to inform you joseph just blew his beard he just off himself i'm like what joseph just 45 minutes ago sitting at his desk pulled out a nine millimeter out of his drawer

and blew his brain to her. Well, why? Joe had in that process, man I told you he had leveraged all that money that he was loaned to other people to buy properties. I'm the only one that performed.

Everybody else failed. Failed. Okay, I wouldn't even thinking that. I was thinking you paid him back. No, he lost like, he lost like $50 million in that whole fucking shit. I'm the only one that, fucking paid him back.

So he loses like $50 million. He killed him. Not only did he off himself, the only thing that was going through my mind at the time was, this is not going to work out well for you. This, whatever is going on here, it was in the air. It was the energy, my nerves. I mean, every instinct I had said,

this is not going to work out. So we're still We're still doing the deals And I'm working with She's trying to really push for me Helping the assistant And she says You know I'm trying to show her to business

I'm trying to show how to do the cash So she could do something on her own She's like, listen just explain it to me Show me up I said let me show you She says just show me the basics I can really help you So I'm teaching her how to do the cash

So we're going through the whole process And it's just her and not fighting through She's like listen I got you We're going to make this whole thing work I said listen let's just keep pushing this thing through We're trying to get done We close like one But we're still fighting and fighting

and fighting and fighting and fighting and one night we're just going through all this shit just like two months after Joe off himself I'm laying on my girlfriend's couch as I'm laying on the couch there's a window

right here with a curtain and just I was so depressed I couldn't even sleep with her you know what I'm saying I was just fucked up you know what I mean mentally emotion I was gone this shit my whole this shit is up in smoke I got this building it's going to be a problem I can feel the problem I'm coming on my ass, you know, the whole thing for it.

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Just visit ghostbed.com slash Cox and use the code Cox at checkout. Again, that's ghostbed.com slash Cox with the code Cox at the checkout to save a whopping 50% off site wide. Go to sleep. And so I'm thinking is, you know, you kind of in that realm between interim sleep between your awake and your sleeping. As I'm laying there, I hear, like 5 o'clock in the morning, I'm thinking I need to get up and take my son to school because my kids, me and the girlfriend, broke up. I had a son that I would take the school.

And I'm just kind of thinking to myself, you need to get up and take your school. As I'm saying, I hear, is I heard that I had this vision. A vision came to me. And this vision, And I saw men in green flap jackets all across the lawn with M16s that said FBI. That's what I saw in that moment, in that vision.

And I woke up, moved the curtain back, and I knew when I moved that curtain back, whatever I see is going to absolutely change my fucking. life it will never be this again i pulled that fucking curtain back it was the fucking vision person for person cross the lawn what i saw in my head was right there they were right there fbi i open up open up i jumped up grabbed my shit ran to the fucking back of the house to go out the back door i fucking open the back door motherfucker was standing in just like this i said oh shit the fucking FBI they come in there I open the door

they fucking said hey the phone fucking came through the door grabbed me by my shirt he looked at me grabbed me like right or he grabbed me he said listen I know you I know you're in shock I didn't shock what's going on

this is what I need you do for me you have seconds to fucking do this white guy home glasses look like a fucking doctor he fucking only he says listen where you're going is going to be extremely cold I need you to get some pants on right now

get your shoes on right now right now put a sweater on right now you've got seconds to do this where's your clothes at i said right over in the back he rushed me to the back he said put him on i'll put him over he standing with an m16 this motherfuckeruckers back they're backed up they're like this in the hallway they're looking on the hallway they got uh uh canis and a sister pushed it back they're like all right boom they put my shit on i put my shit on they said come on come on come on we get to the front he says i'm putting your cuffs on he says come on he said come on he said i'm going to cuff you in the front he said you good i said i'm good he put the cuff in front boom sat me in your car

They put the, um, the, uh, there was not one cup car there. They were just all unmarked cars. We jumped down to that moment. We take off. We take off. We go down to the Russell building. We go that motherfucker. We go upstairs.

It was freezing. We go, it was freezing. He was not lying. We go in that building. We go through the chains. We go downstairs. We go upstairs. We go up through the door.

We go on this, we sit down. And as we sit down as I get there, I see my whole team. The lawyer. My lawyer. The lawyer. the appraiser. I see a couple of people that did docs. It could be their paperwork.

I think everyone's there. Everyone's right there. And I sit there and they give you a kind of, they give you, it's not the indictment, it's the complaint. And in the complaint, there's quotes in the complaint. So they're sitting there with the complaint. I'm sitting there with the complaint. I'm like, who the fuck did this?

How the fuck did this happen? I'm the, what the fuck is going on? So one of the mortgage brokers who work with me, smart polis do real sophist you know polis dude love to marry women from Brazil who the fuck does that right but he loves to do that right can I say

the other right I saw a little story right so he sits there we're there we're all shackled at knees we're all there you know we're dressed there we're all sitting there like all right what the fuck is going like what's going on like what's going on that I know he goes through the shit he reads it he's reading a complaint he's reading a quote in the statement he

we're like who the fuck he's like he looks at me he says I know who did this I said who the fuck did this he said kim i said kim my assistant he says yes your assistant and then it just went right back through my head like just teach me the system just show me how to do it just da da da da da da da da da kim was wearing a wire to work every fucking day kim because i didn't understand how the feds worked, I was completely ignorant to it. Kim had an open case. Kim's open case, which I didn't even know what that meant. She actually told me she had a case with the feds.

I didn't understand it. I didn't understand how it worked. Kim had to open case. With Kim's open case, Kim would kind of deal with the FBI. They were actually paying her literally to come work for me. So I'm paying this motherfucker. The FBI is paying this motherfucker. She's wearing a wire to work every day. and she is slowly entrapped me, entrap me, entrap me, entrapped me in the process. And sure enough... I feel like she was just documenting your fraud. But go ahead.

Actually, I didn't mean to trap me. I meant documenting. She was documented. That's what I meant documenting. I actually didn't mean to trap me. I really meant documenting. So you're right. She is documenting my fraud.

So as she documents my fraud. Right. Literally... uh she flipped out her case for me and flipped me out for that case they let her off completely i think she did she did three months oh three months okay but no she had a big case herself oh yeah yeah she had another case just knocked off the whole thing oh oh i was a big i was a big you probably you know what if joe if without without her they're probably their fear is you could to blame Joe.

I did try to blame, though. And listen, I'll tell you a funny story. When I went into, to debrief with the U.S. attorney, I'm sitting at the conference table, shackled down. This is like after sitting there, she comes in, and we walk in, and I'm an attorney. I got this whole plan in my head. She walks through the door. She comes through this.

She says, hey, everybody, how's everybody doing? She looks at me. She's, da, da, da, she looks at me. She says, Dossi, how are you? I'm like, I'm fine. she goes good she says good we're about to get started so but first i want to just make a few things clear we're not blaming this on the dead guy i said oh shit i plan to blame the whole thing on joe she said off the rip we're not blaming this on the dead guy is this gail mackenzie no this is barbara neeland

oh okay did you ever hear of barbby neeland no i know gail mackenzie was um come on uh uh what's his name. Kelsey. Oh, Kelsey's, Kelsey's. Yeah. Kelsey's. That was Kelsey. And it was somebody else's too. You had her. Kelsey had her and somebody else had her. What's his name? Troy had her. Troy had. Troy had. Troy had. Troy used to say that she loved him. He'd be like, uh, wait, how to do his imitation? What? Let me, how is it? How does he sound? No, Matt, who? Troy. Troy? Troy. And Matt, you just don't know. Yeah. I've got gale, gal they trust me they love me dad right right right

he would say he'd like I go after gal I lean I met Gail what are we doing what are we doing here gal what are we going to see oh stop me by the way he said he said for you to call him when he was coming to see

he said tell him that to call me uh yeah so that was how I got busted and that was I thought I would they told me I was charged with two condos I looked at my lawyer

When he came to see me I said Can you get this worked out He said yeah I'm gonna get this worked out for you He says They charge you with two Illegal condo cells

I said all right That's nothing He says Yeah you probably do a little bit of time For that I said okay I said I said how much

He said you might do two years I said two years I said how the fuck Am I going to do Two years Are you fucking kidding me He said He says, yeah, two years.

Like, as he's telling me this in the court for the rain, man, he says, uh, Voski, he says, excuse me, could you do my work, you know, I'm saying, no, he says, hold on, let me see I can work, go, blah, blah, da, da, da, da, da, da, da, da, da, da, da, da, da, da, da, da, da, da, and the lawyer is looking at me like this, now while she's talking to me, he's looking at me. He's going like this, looking at her looking at me. I'm like, you know, it's like, what? he's like looking at her looking at me and she's in his ear you look and then he walks back over like deflated and shit and he's just looking at me like um dead man walking and he says

okay there's two condos what you have was called a superseding indictment i said what the fuck is that he says apparently you've owned a lot of property and apparently you've hold a lot of condos. They've got your money count right now at $30 million. And I'm sitting there like, okay, what does this mean? You could get like 20 years. I'm like, what? 20 years.

What the fuck are you talking about? He says 20 years. He says, yeah. He says, you can get like 20. He says, I said, well, how much they're really going to give me? He said, that could be 20 years. I'm like, what the fuck are you talking? about. I'm like, what? I'm like, and when you're in that situation, that's the thing about

crime, especially when you're committing crimes. And, you know, some of us, we're in denial about, like you just said when I said, uh, entrapment, which is not right, was not the term I'm meant to use. But the point is, is that you really don't realize, A, you're a fucking criminal, number one, and B, the consequences are brutal. The consequences are unspeakable. And you keep thinking, You know what's funny? The moment you get away with it, I think that one's done. Got away with it. No, no. No, you didn't get away. You got away with it for now. And you forget about it. And then when they come to you and they catch you for this one that you know they have you for. And then they stack everything else up. You're like, oh, forgot about that. Oh, forgot about that. Oh, forgot. Next thing you know, you start to realize like, oh, oh, no. This is getting bad. I thought I got away with those. That was over a year ago. It was two years ago. It doesn't matter.

No, it doesn't matter. Right. And next thing you know, it's overwhelming. And your lawyer's trying to convince you how much trouble you're in. You're thinking, I just filled out some paperwork. I say that all the time. Colby hears me say that. Like, how can I get 26 years?

I just filled out some paperwork. It seems innocent. It does. I didn't hurt anybody. I didn't kill anybody. I didn't do it. But, you know, it's, it's, you know, I love it when people, oh, white collar criminals don't get any time.

No, they get a ton of time. They typically cooperate. They get decent lawyers. They try and talk it down. They try and whittle it down. If you're lucky, you can cooperate against a bunch of people and you can get your 20 years whittled down to four years or something. If you're lucky. Yeah.

But if you're not lucky, then they'll crush you. And they make you sound like a monster. You're a monster. But the truth is, if you sit there and lay down exactly what you did to the average person, they're like, That's why, well, yeah. You just felt like that, listen, listen, not only that, let me tell you to the degree that everybody was doing this. And I'm saying that as a cliche.

I just want to tell you this, this quick thing. I tell me, I've told this story at seminars. I'm in jail, waiting to get sentenced, right? I'm going back and forth to court. court, right? Well, I'd be going back and forth the court in the feds, but I'm going back and forth the court with jail, right? It's hard to explain to the other guys to the drug dealers than everybody in the United. My lawyer again. Right, right? Right, right? I'm going back with the court, right? So, I'm on all over the

fucking news. I'm going to jail. I'm going to prison. Like, these motherfuckers have means a pariah. You know what I mean? I'm going to jail. I got to go to court. I'm sitting there like, God, I'm hoping. Now, reality is set in. I'm hoping and praying for 10 years. This is where we're at. The motherfuckers around me and the jail I was in.

They're getting 30, 40, 45. I'm like, oh, shit. And you're thinking to yourself, what have I done to myself? So they come, Richard, you got to go to court. I'm like, all right, I start walking out, through it. I hear the girl's through it. Fuck you're going, Richard.

You know, I'm going to court, right? I'm going to court, right? So they take me downstairs. They take me downstairs as I'm coming downstairs to go to court. You have to walk through the tunnel at Lovejoy. I come through. There's a van that pulls up. When the van pulls up, two marshals come out.

vests, tie, what is a woman, maybe about five foot, two? Another guy comes through, comes out as well. You know, he with the blue jackets, the blazers. As she comes to her, she says, face the wall, I'm like, all right, I've turned around the wall, chain goes around your waist, chase goes around your ankles, chain your hand, they put me in the van, they're riding. Because they're riding, they're driving, I'm sitting in a shackle, on my way up to court, the marshal, she looks at me from the back,

turns around and it looks at me once. I'm thinking nothing of it. We're still driving the quarrel. She looks at me again. It makes eye contact again and then turns around real quick again. So I'm taking nothing of it. We go in, we go into the building, go through downstairs where the courts are to take me upstairs to the jail. Take me upstairs, walk down the right home, open up the big steel door, put me in there, open the cage, put me in there.

I'm shackled. Take the cuffs off. I'm shackled by the legs. Dad, and I'm waiting to go to court. As I'm waiting to go to court, they have their own marshals in a prison. actually take you up to court. These are the transport marshals. So I'm sitting there waiting to go to court,

but I'm behind the gate, behind a steel door, in a jail, so it's a cage within a cell in another cage in it. But you can't see on the side. I hear somebody say, but you can hear, hey, where's Richards? I'm looking for Richards. They want them upstairs in court.

I said, okay. I hear someone says, a woman's voice says, she says, I'll take them. I'll take him, where's he at? Okay, I hit a pause. He's right over here, da-da-da-da, so the door opens up. The marshal comes out, the marshal comes in.

It's the same woman again. She looks at me, she goes, Richard, come on, you got to go to court. Da-da-da-da. I get up, shack goes on. She has me face the, come out, come out the cage. The other marshal standing by the door. She puts, again, chain around thing, put the handcuffs on, but right she starts walking me out

she says as we're walking out walking down the hallway this white sterile hallway there's an elevator at the end which takes you upstairs to the court as she takes two steps she looks at the other monster as I got him I'll take them from here he says all right so now as her and I walking down the white hallway we're walking down the hall walking down the hall

we get to the alley long hallway she opened up the door I've been here so the time so I already know walking the elevator face the wall don't turn around as we go in her and I go into the elevator. Now, something's rubbing me as weird about this whole thing. Just, why am I seeing the transport marshal again? Why am I in this hall by myself? This is a step on in. L.A. comes. All they opens up. She says, step in. I step in. Boom. I'm facing the wall. I'm looking at the

wall. She's standing by me. She hits the button to do. As we're going, as we're going, up towards her as we're going as we're going uh she hits another button do doosh the elevator stops i'm like what the fuck she says richards turn around i turn around i'm looking at now i'm looking at her it's the same bitch from the fucking trouble she says richard turn around turn around she looks at me she says richards listen really quick i don't have much time i have two deals at my attorney's office about to close we're having we have equity on the table i need you to show me how do you get the cash out of the equity how do you actually extrapolate the cash off the deal what type of paperwork do you file i think i said this has got to be a fucking set up right this has got to be

i'm like i'm like what the fuck is going on so i'm sitting there i'm playing the cool i'm looking I'm like, is this real? She looks at me. I look at how I said, I'd love to help you. I really would, but I just can't. She said, Richie's, I'm not setting you up. I'm not what the fuck you're thinking.

I just got a deal. I need to get this $40,000 off the deal. I can't do it. There's no problem, Richard's. Turn around a face door. Turn around. And we start walking off to the court. This is to the degree.

of how this everybody everybody yeah everybody everybody everybody um everybody bro i i hear listen i've done i have done fraudulent loans for lawyers for police officers for doctors for like every every everybody out there that you could think i did that you would think cops not going to do a a dirty deal the fuck they won't Not only he's doing a deal, he's getting his wife to do the deal. You know, we're doing multiple types of deal. A lawyer's not going to do. I got a lawyer where we pulled out like 60 or 80 grand out of the deal.

So he's bringing money. We close. We pull out 100 so he can get his down payment back and we give him like $60,000. I mean, completely fraudulent. Same thing. Doctor, exact same type of situation. Like I've done so many corrupt deals. For people that you'd be like, a lawyer wouldn't do that.

Yeah, they would. They would. I was in prison with guys in prison and explaining, what are you talking about? Everybody was doing this. And they're like, and I was like, I did one for a lawyer one time. And the guy was like, a lawyer wouldn't do this. Like, what are you talking? You're in prison right now.

Right, right. You just got done telling me how your lawyer fucked you. Yeah, it was everybody. Everybody across the board was doing it. Everybody, well, you know, I mean, whatever. No, no, no. But literally, no, in this particular case in the real estate business, it really felt like, It really, it really was everybody, like the opportunity.

Well, I think it too, there was just so much money involved. Yeah. There was just, I imagine at that time, too, the whole economy is collapsing. So she's desperate. She's desperate. She had to be desperate to stop in the elevator and have that coverage. Stop in the elevator. I just knew.

And the truth is, I really wanted to help her out. Yeah. You know what I'm saying? Because I understood the situation. But there was just no way. Yeah. I was in the medium one time. And this is what wasn't fraud.

It was literally, it's like eight o'clock at night, I'm at the medium. Cop walks in, you know, everybody's locked in. This was the medium, two tiers, they're watching TV. Cop walks in, looks around, he goes, cocks. You know, everybody looks at you. And I walk out, I'm like, yeah, what's up? You guys, come here. He goes, come here.

I'm like, what's going on? Like, nobody leaves at eight o'clock. It was like, it was like probably eight or nine at nine. Let's say it's eight late. They're at 10 o'clock count, you know? So I'm walking. He goes, come here. And I'm like, what's up?

He walks over the door. It's got the Sally Port. He opens one, walks in, closes it, opens the other door. And I'm like, what's going on? Is just walk down to where to A unit. Which one? A1, A2. Go to the A units, the building.

And I'm like, go. And I'm like, I walk down to, I'm, it's fucking dark, bro. I've never been out. I'm scared. I've never been outside when it's dark. You know what that is? I was in B unit. I walked down, and there's a couple of COs down there.

And I'm walking up, listen, I was actually praying it was like the fucking FBI or something. Like they needed to ask me a question. I was like, please let me get out of the cut. The cut. Yeah. I walk down there. I walk up and the cop, he is Cox. And I'm like, yeah, what's up? What's up?

And he goes, all right, listen. He said, I'm looking at a condo. I'm looking at a townhouse right now. It's going for $195,000. The entire complex, he said, half of them are in foreclosure, but this one's finished. So, and I'm like, okay. And he explains the whole thing. I go, how many of them are actually owner-occupied or sold and occupied by owners?

Great question. And he's like, oh, this many of them. He's like, I could put down the 20%. I'm like, is it worth it? I'm like, I don't know. What are the other ones selling? We have this whole coming up. And it's like 20, 30 minutes in it.

And a couple more guards come over and they're standing there. And I'm sitting there thinking, this is some Shawshank Redemption. This is Andy Dufrain doing all the fucking guys taxes for him. Right. And I'm teaching the real estate class. Like, this would be hilarious if I wasn't the guy in prison. prison right now. But yeah, we talked until almost 10 o'clock and he was like

and the other guys are asking questions and they're like all right, listen, you got to go. Right, right. Right. You've got to be counted at 10 o'clock. So they walk me back and I just remember thinking like it is. It's surreal. It is surreal. What's happening? And I don't know if you had this revelation, but what I realized and I really realized at that point too

and you know, sometimes when you do the bullshit like crime, you really realized, you know, with the resources I had legitimately, I could have really repurposed this to really create another business or another, helping people, giving people information, helping to give them. Because their truth is, they really, those cops were looking for information all the time about how to do business,

how to run it. You know, the other thing, because you've done, because you did all the flipping the contracts, because you had, all the things you'd done, You went from the most basic type of mortgage deal all the way up through the most complicated. You're taking apartments that are zoned as apartments and you're turning them into condominium. So you're going through the rezoning process. You're going through all the things that make this thing an individual unit.

You're having to get them insured. You're having to write up the condo documents. This is extremely complicated. So you've gone from one extreme to the other. Most real estate agents who everybody considers the expert, do you know what they've done? They went to school. They passed their test. And now what they do is they go, well, what's the address?

And they drive that person to the house. And then they put them in the back of the car and they get them out of the car and they walk over. And they punch in the code to the lockbox. They open the door. They go, this is a lovely two bedroom or the three bedroom. They show them the place. They walk back. And they go, oh, I love it.

they write up a contract and that's all they know they don't know anything other than i show a house i write up a contract if you said hey can we do a simultaneous closing on this i'm sorry what hey can we do an uh an owner uh second mortgage hold back i'm sorry i don't know what that means could are these people willing to do owner financing i don't understand what you're saying like all of the can we do a wrap around mortgage they don't have the ability to know any aspect of anything other than the one single thing they've been taught, but they're the experts. But someone like you, because you've gone from knocking on doors all the way up to the very top, I would say the only other thing, as far as residential real estate, would have been,

you know, new construction of the condos themselves, which you'd already done the rezoning. You were already in the process of that. Other than that, I would say there's nothing that you haven't, really the renovation are practically, that's practically new construction on some of these things. But anyway, it's funny, the amount of knowledge that I had and that you have, and I know because we've had these conversations, if you said, hey, can we write this deal up, where I'm going to borrow the money, can we have a takedown clause? You ask a realtor, they don't have a clue what that is.

Right. You know, so what's funny is knowing all, that whole gambit gives you such a wealth of information that you could have that you could utilize to your advantage. There's just, there's, there aren't people out there to answer those questions. And the people they think are experts aren't experts, aren't experts at all. And the thing is, most of them, you go to a normal, a normal real estate agent, you ask them, how do I get this deal done all the, well, go to your bank. You know, I know my bank has said no.

Right. I'm sorry. Where you can sit there and say, hey, can you get the seller to hold back? the second mortgage. Can you give him to owner finance? Can we do a wrapper mortgage? Does he currently have a mortgage? Can we do a subject to loan? Like, you know, can he pay my, you know, how much money do you have now? Okay, you could do this. And all of these are legal instruments to buy the house. Real estate agent doesn't know any of that. No, not at all. They're clueless. They didn't think like that. No, that's too complicated.

It's not too complicated. Owner finance deals are the easiest. Right. They are the easiest. They are, they are the easiest. And to that point, it really, it really, You know, like I tell people all the time, the beautiful thing about real estate and the opportunity of real estate, it allows virtually anyone to, there's a billion dollars with the real estate out of the side of someone's door within your city. And there are opportunities to play in it at some level, whether it's a house, the office property, or strip more. And it's one of a few opportunities where, you know, you're not going to be able to go in and buy a company. You know what I mean? Just like that person. Well, you can.

But the point is that real estate is right here, it's local, where anyone can play the... It's access. It's access. Anybody has access. access it's a crack deal guy who's drafted out of high school has very little education has sold back has gone to prison has gotten out if he has enough knowledge can become a multi-millionaire would never get licensed right you don't have to be licensed no if they get license hurt you in terms of that process sometimes oh yeah because you it opens you up the liability no liability and disclosures

you know a lot of the people in prison i'm not a lot but you had segments of these young guys that were like out of miami those things like they were so rock and was just buying little houses with the extra money that they had that they bought the other day had three four problems you're like 24 25 years old three four houses that they own that these happened to buy and just was with the extra crack money that they had where they had them where they were free and clear houses which I saw a few guys with that as well from the classes that um that uh taught across the um across the um board but the idea is you know look when I got sentenced when I got sentenced um ultimately I got in sentenced I got nine and a half

years in prison. Might as well rind up. No, it's actually, a hundred and I was. It actually was nine years. I did doing six and a half years in prison. You know, prison literally, literally, you know, my life was pre-prisoned, then after prison. But prison actually was one of the more enlightening, you know,

this is the same day. You got to meet me. I got to meet you. Listen, that was, that was the pinnacle. That was like four years. That was the height of it, but prison really, really, it sounds crazy, but prison worked for me because you get that point in your life where you need a different level of understanding in terms of yourself, in terms about your bullshit, about back to the conman thing.

Oh, no, I'm not, get the fuck out of here, you know. No, motherfucker, you're a con man, you're a criminal, you're doing criminal activity. But it takes, but your mind, but you have to be around people that are going to tell you, No, I'm a motherfucker. You're a comment. No, but it was interesting when we did meet in prison. But the thing, like I tell people all the time, but I thought it was really, see, here's the thing

about interesting people in prison and really learning from people in prison. I thought what I thought was really interesting about you, and I tell people this all the time, was just how you had everyone engaged. And that's what I thought was important. Just the whole engagement of keeping everyone engaged and then sharing the ideas. And at the end of the day, we were constantly evolving, sharing ideas, sharing thoughts. And, you know, I had smart rooms. You had Tromoville. That's not, that's a lie. That is not what happened. That is not what happened.

Listen, no, I'm not going to let you do that. Listen. People would ask me, what would you, what would you invest in? And like, if you were getting out of prison, like, what would you invest in? And I was teaching the real estate class. And I used to tell people, look, because this is an entry level, anybody could do it. Right.

Like, we talked about this earlier. I mean, I know it wasn't on this, but it was earlier. And it was like, look, you know, some of these guys would teach these little classes, right, where they talk about like, you know, here, how do you build a mall? Build a mall. This guy's never had a job. Or he's, the best job, most he's ever worked is like he was a bus boy.

And then he started selling drugs or he was robbing banks or whatever. Like he's not going to build a mall. So don't try and teach this guy how to build commercial buildings. Like what is accessible to everyone is buying a single family home. And so what I was teaching people was like, look, buy a single family home. And actually, I'm going to tell you how this went wrong for me once. It was I was teaching the real estate guys because one of the last classes we did, I said, hey, you can get out, save up 5%. get yourself your credit in good shape and you can buy a house owner occupied you know

maybe you do move in it maybe you move in whatever so your intent is to move in right you buy the property for let's say 100,000 i know that's a that's a round number whatever maybe 300,000 maybe it's whatever so you buy a house for 100,000 put $5,000 down get the the owner to pay some of your closing costs whatever the deal works so for five grand down and good credit you can buy a house. You turn the living room and dining room into bedrooms. Right. Put up a wall, cost you a thousand bucks, you know, put that. So now you can rent out all five rooms for, I used to say 150 bucks. I mean, now it would be probably a couple hundred bucks. What do you charge right now? So weekly, weekly, weekly, I average rooms for about $200 weekly, weekly, $800 monthly. There's a

bathroom, like a massive bedroom. Right. They average $250 a week, $1,000 a month. Okay. So back then I was saying like 150 because this was 10 years ago. So I would say that. And then we do that. I do the math for them. You know, boom, here's your mortgage payment. Here's taxes, insurance. Here's what the electric is because you have to pay the entire bill. You know, we go through the whole thing and I tell how much. And these things are making between 1,500 to $2,000, $2,200. I mean, they're making a huge profit. And that was at a buck 50. I know yours is a lot more profitable. But that was back then. So I would explain all that to them. And I would say you could buy one. and then it doesn't take long for you to be able to buy another one and another one.

And I had like kind of like a three year plan. Like it's it's getting rich slowly, right? Well, I would explain that. The thing is, a lot of guys would say stuff like, you know, yeah, but in there a lot of turnover. Yeah, initially there's going to be some turnover, but you're going to get guys that are going to be if you, these aren't these, I wasn't suggesting you build, you know, or sorry, rent out slums. Right.

These are good, clean rooms. Sure. So where they're safe and secure And so I would explain that And I would say, look, if you're concerned about high turnover And that is when I said What you might want to think about Is all these chomos here

And I'm in a class and there's chos in the class I'm like, these guys have nowhere to go You know, they were getting out of prison And they had nowhere to go These guys are sleeping in tents behind Walmarts I'm like what you do is You could rent to them Because when they move in

They'll never leave If nobody wants to rent to them, if you're willing to rent to them, you could rent to them. And so listen, and I would say, I go, and you can charge them a premium. Like you can charge them more than the hundred bucks. You can charge them 150 because these guys are smart and they're not really criminals. They're perverts, right? But they'll get a job because they don't want to go back to prison. They're smart enough to know, I'm not going back to prison.

I'm terrified. I didn't have a good time. So they'll, even though this guy's got a master's degree, he'll lay drywall because he doesn't want to go back. So I suggested that, and that turned into Chowville. Chowville. Chowville. Chowville. We said we had so, we had, um, I remember Chowville.

We had like Motown and our, you know, we had Chowwood Forest, Chowville. We had all kinds of different things. I saw like mascots running around juggling. It was a running, on a unicycle. It became this huge running joke. Guys are running, we would come up with these hilarious things. Showville. But, but, but the concept initially.

No, rooming house. Rooming houses. And then you came in when I had explained. I remember, too. I'll remember, I remember this. Right. When I said, listen, and what you could do? You could rent him to the Chos.

I'll never forget the look of disgust on Dossie's face. He was like, what? I'm not going to do that. It was just disgusted that I would even suggest it. And like I was talking earlier, I went to Chow's to Chos now. Now, yeah, I've read to that. But I don't know if I was disgusting. I think I just did.

And I think you, right, I think when you said it to me, I was thinking, but again, I still shouldn't be discussing it. I didn't understand the market. Exclusively, a Cho community, but Choos communities make money. They do. They have what's called proximity. So they have to be a certain number of feet, a thousand feet from schools, churches. Why churches? I never understood the churches. What is?

The schools, churches. Yeah, I don't get that either. But I, but I, we went to them now in certain locations, certain locations in Atlanta. But you had take, I remember, so we had this whole conversation multiple times. And that was just one aspect, by the way. That wasn't my whole goal. It was a whole, it was a comedy. No, no, no, no, I got it.

But then I remember six months later, somebody comes up to me and says, yo, bro, have you, have you seen a, he had like a whole business plan written up. Dalsy's business plan? Yeah, bro, he's doing this whole smart homes thing. I don't know if you call this smart rooms. Smart rooms. whatever I don't you know whatever the it was and I was like what do you mean

and he said yeah yeah he's talking about but you were building you would all he'd already gotten a guy he got a guy who was there Charlie was he was in your unit wasn't he no he wasn't your unit he wasn't my dude he was the um he was a charlie a draftman or an architect yeah he was good too

he had a whole he had the whole thing he wasn't talking about doing it with houses at that time doing it was a high rise he's talking about building yeah it was a high rise yeah it was a high rise that we did remember that Yes, you had We had the roads

drawn out. We had pictures drawing out the whole thing. These guys in there fucking with a grueling and drawing out of the clock. And I'm like,

what is this? Oh, smart rooms. And I'm thinking, dudes, I bumped into him and he just, he just took my little

nugget of an idea and ballooned it and threw steroids on it and boom, it's blown up into something completely different. And I remember thinking,

you know, okay, well, you know, we'll see what happens with that. And then later, I get out of prison. And when I get out of prison, he's got a website. He's got multiple homes. I'm talking to him on the phone. He's walking through the place. So, yeah, I'm in one right now. We're renovating right now. Look at this. And I'm like,

this bastard. And he's on probation. Well, on probation. You know, the thing was, was that I was sitting in prison. I mean, I never liked being in prison. But when I would sit in prison at Coleman, I would sit there, and the thing I noticed in prison was two things, which I thought was strange. I was never bored in prison. I'm thinking, when I thought you go to prison, you get bored. I was never, you just be bored. Right, right, right, right. I was never bored.

And there was always someone for me to talk to. And then you had the cubes, the rooms. I was able to go to people's cubes. I was able to ask them for food. I was able to move out. I was going to people for food. I was able to move back and forth. And I thought to myself, how come these.

communities that we have here in prison, how come they don't have these in the street? There you had the TV room. You had the microwave room, people cooking. We had the shit. We laughed in my cube day and night, night and day. And it worked. It was functional. It flowed.

It made perfect sense. And it was the real thing because we had these focus groups in prison. When I would read the Wall Street Journal, I would read about housing prices. And then we'd study the median average ankle coming in. It made no sense. How the hell is the rent approaching? At that time, it was maybe approaching 17, 1,800 nationally. And the average person is making 40, 42, 43, 44,000 dollars a year on average United States.

The numbers didn't work. Yeah. Yeah. How are you going to pay it? How are you going to pay it? How are you going to pay rent or a mortgage? How are you going to pay to Brennan mortgage? Shared housing is residential housing.

This is, and again, back to your point. When you can have, now we have houses where you can have literally seven, eight, nine. In some cases, 10 bedrooms and one house. You have 10 bedrooms and one house. Even if you're running $700 a room, that's $7,000 a month coming in. What's that, $82,000 a year, if I'm not mistaken, coming in yearly from a house in the hood. And if you rented that house as a single family house, you'd make $3,500, but $4,000. You'd maybe, maybe, maybe maybe maybe, and you get one bad tenant.

That's all wiped out. Yeah, yeah, because now you get renovated, put it back on the market. It's at least a month to two months before it's. renovating. When I have landlords come to me and they're saying they're running out a single family, it makes absolutely no sense. Why would you buy a house where you're making $300? Mind you, one bad tenant can kill your positive cash flow for what? Two years easy. But that's what's great about you're taking a loser rental property, which is a single family home and you're turning it into an extremely profitable one. And it's not just profitable. It's never vacant. It's never

Because all five or six of those tenants are not moving out at the same time. And they rent out quick. Like people think, oh, how do you get a boat? It's easy. You could put a sign in the front yard. You could run an ad in and Craigslist. I had a buddy. You already know this.

So this is really just for people because you already know this. I had a buddy when I was in the halfway house. I worked for him at the gym. And I was telling him, bro, he's like, I was like, listen. Because he was like, man, we got to do something. I was like, absolutely. Like, you got about six months with me. So utilize me. What do you want to do? We want to flip houses. You want to do whatever.

And he was, I was like, what would you do? I was like, if I was you, let's go buy some rehabs. Right. You've got the money. Let's buy some rehabs. We'll renovate them to make them rooming houses and we'll rent them out. That didn't work out because I gave him stomach the fact that he didn't want, he didn't want to do it. Like he didn't want to get his hands dirty. He don't want to get dirt under his nails. He's raised rich, whatever. But I explained him and he was when I told him the concept and did the numbers for him, him. He was like, bro, I don't, I don't, that, and nobody's, nobody's going to rent a room. Right. And I was like, listen, you grew up in Avala. Avila. Your house was five, the minimum house you could build, 5,000 square feet. It's a fucking one and two, three million dollar house. You've never not had a brand new car. Like, you don't understand. People do rent rooms. And, and so I'm explaining this to him. And I said, you want to, let's do this. Let's put an ad on Craigslist. Right.

So we created a little ad about renting a room for like 175 a week, 175 for your deposit. And then we put it up. And he was picking the pictures that he uploaded. He was trying to pick like nice, nice rooms. Like these are, I was like, what are you doing, bro? That's like a model home. Right. No, let's find one that looks like, oh, there.

This one looks like a bed's not made. It's thrown together, like almost like a kid's room. Put that one up. He's like, nobody's going to rent that. I was like, exactly. you're saying this doesn't work. I shit you not within an hour. No, within two hours, he'd gotten 20 phone calls.

Oh, absolutely. He'd have taken down. They don't even want to see it. Bro, I'll take the room. I'll take the room. I don't even have to sit in it. I'm sorry. He just started telling everybody,

sorry, I already rented it. Damn, man, I just seen it too. I'm sorry, man, you got anything else? He couldn't believe it. Absolutely. It's so crazy. I do, I have a room brokering program where we actually broker rooms for other landlords.

So what we do is that I show people how to take landlords who want to get into the rooming business like your buddy and how to bring them and bring landlords and peer them together and we take commissions and fees and so forth and so on but literally you'll you could like of every of every room you make a thousand twelve thousand dollars on the front literally people will send money to my website all they do is look online pick a room literally don't send me thousands of dollars per week just from looking at the rooms online another way that they do it is people will call me Hey, I'm looking for a room.

I need to move. These are people with SSI, Social Security, working class. These are people that, some of them professionals. And literally, very often, you set them a video of the room. That's it. 70,000 bucks, take their card right over the phone. Literally, you're making $1,000 right there for that. And you literally can do this over and over and over and over again.

It's just on the marketing. They have to take the room. They don't have a choice. Yeah. It's so limited on their ability to find something that, inexpensive that they have to take them because if think about it if you're trying to live somewhere for 200 dollars a week right are you going to go absolutely for 200 bucks you're not absolutely if you can find it it's like i'll take it right and there's 100 million americans that make four to 500

a week that's what they're making so all they can afford is 200 dollars a week literally there are literally 100 million americans are in some type of roommate arrangement it could be with your wife it could be with uh family could be with a shared housing It could be at a college dorm, could be seniors. Senior housing, $3,000 a month is what their senior housing is paying on average nationally, and they're backed up three years. Backed up three years. People are looking for housing.

There's subdivisions where they used to kind of be people couldn't have guests. You go to subdivisions today. You'll see cars double park lined up throughout the subject because people are cramming into homes today. Now, the idea is taking houses, converting them into. multi-units, the house, becomes an apartment building, literally. You know, I mean, you know it's a, that housing is an issue. Well, one, inflation's just crushed people, right? So, but you know it's, it's an issue when, like, in Cal, in L.A., in Tampa, and a lot of

this, the zoning is now allowing you to build mother-in-law. Absolutely. They were adding, and that wasn't going to happen before. Absolutely. Well, this is a housing mandate. there's a housing, even when code enforcement comes into properties, I have a lot of landlords who I do their rentals with, where we do multi-rooms, they'll say to me, hey, code enforcement came by, code enforcement, I tell them all the time, don't worry about code enforcement.

Their main concern is, are you treating the tenants well? Right. But they'll never have a problem with you providing housing, because that's where the mandate is going. You can't have to. You can't run a, it can't be a slum. You can be a slumber. No, not all. And they want you to keep the tenants.

They just wanted to make sure the tenants are, and there was a time where it was a different story. But today, they want people in houses, in units, especially people that are in the affordable housing space. But there's money in affordable housing, a lot of money in it. There's a lot of money in it. They need to get these rooms. And again, like you said, we're taking basements. The house will be 1,500 square feet in the footprint. We have a 1,500 square foot basement.

Literally in the basement will create literally seven rooms. So if someone's basement at $800 a room, you have seven, what's that four, seven times, eight times seven was up 49, so you're getting $4,900 a month just from the basement. You still have the upstairs where you have the liver room that you could convert to housing to a rentable room. You have the dining room. You can convert to a cash flow in room. It has three bedrooms. You're still picking up all those rooms. You could build in bathrooms.

And literally the cash flow is unreal that comes from these units. So that's really where we're putting people into. We're showing people, listen, you don't, you can, you don't. don't have to worry about buying a multi-family. Like you said, they're not buying a $2, $3 million multifamily. They're not doing some of those crazy-ass deals I was doing. But literally, you can take a house these days with the cash flow room system, and you could turn it into a multi-unit cash-flowing property.

Each room is a cash-flowing furnishing. So now the rooms act like an apartment giving you multi-units of cash flow. And that's how you build real wealth. I was going to say, right now if you wanted to buy, you know, 150 room or unit apartment complex. Well, you have to have, you have to have taxes for three years showing that you've done this before, that you know what you're doing. You have to buy a property that can prove that it can pay for it. It's like the level of the entry level, there is no entry level to that. It's like the average person can't do it. But, but residential

mortgages are extremely available for the average person. So if you're thinking, hey, I work at Walmart as a, as an assistant manager and I make, you know, whatever, $55,000 a year. Well, guess what? You can start buying two or three single family homes a year just by going to the bank. Absolutely. Buy them. Turn them in the rooming houses. One, two, three, three years later, you quit your job. I can quit my job and then just live out for that. I've got people putting off one or two houses. And here's what's going on as well, too.

The last two deals I did with two of my clients, they actually had a property where they were doing four-bedroom house. They created about another four-bedrooms downstairs. They have eight bedrooms altogether. They went to buy the house. The houses, it's like a $200,000 house. They needed approximately $40,000 to get into the deal. They got funding for $160,000.

The other $40,000. They want to got an unsecured. loan, which they got right off the internet, that unsecured loan, like, gave them the $40,000 they had in three days. They just want to bought the property. Now they have the property. They're setting up to refinance it about six months. But really, the point is that on the property itself, right now, the property is currently

generating a give or take, give or take on it, probably somewhere around a space of $7,000 a month. Again, real profits of about $3,000 a month, a net profit. That's $36,000. So you're making $36,000 and you don't get up and go anywhere. The money just comes. And we call it magic money. The money just comes and comes from rental residual income that comes in. And that's one in those rooms.

Are you teaching these guys to manage themselves or because my, my ex-wife has a bunch of these properties like that. And she has somebody, she calls them a houseman. She'll always have one guy in there that will collect the red, mow the yard. She'll give him a discount on his. Right. Mo the yard, you know, clean up everything. and then he calls he calls her like once a week and she drives up and gets out and she goes

I might walk through the place but she's if I trust the guy he's been there for you know six months or a year or two she's he'll come out and just give me the payment or or cash app or whatever well a lot of people will cash up her but she said used to be they'd walk out and give her the cash but but she would always have some guy so I'm like said you're not you're not even she's like I'm not doing no they're absolutely and I got one better for her with our system we teach them how to do auto pay so the money's automatically debited from I think that's what, oh, I don't know what I'll pay. I think they all pay her like cash out.

Right. So this way, we have, we have, we look at the trajectory of their income, direct deposit. So we can see you get paid on the third, you get paid on the ninth, you get paid on the 15th. So literally it debits on those days because you have a history of those debits taking place. So this way, as soon as your money hits, it automatically debits. Right. As soon as it hits, or this way, they don't even have to think about it. So that's part of the management system that we use.

The idea, too, is the onboarding. is a big part of it as well, too, showing them how to qualify tenants, showing them how to use the managers. We have, one of my buildings, we have a lady named Crystal. She's down there.

She has the documents, the paperwork. She literally, she calls them. I show, our process shows them how she does the marketing. She calls them down. She rents the room.

She qualifies them. She calls me up to do the processing. We have our team do the process. And the money covers her through, but like your wife, they cover the whole gamut of the whole process. So now, it's cash flowing and makes money you don't have to lift a finger and that's a big part of it too

with the management you don't once it's structured you don't need to lift a finger like your wife um so who i mean so are you are you teaching are you just doing your own so what we do is that we do our own we do properties that we build and develop as well also but in the same breath too what we do is we teach people a how to acquire real estate how to build out that real estate how to their bill of state finance because a lot of people think they can't do a deal they think they can't get a fine we show them how to use properties that are subject to we show people how to do lease purchases how do rent to own because a lot of times you really don't need to own the property you can actually rent the property and release it we also show them how to do work with different programs

how to work with SSI how to work with seniors how to work with travelers how to work with students how to work with professionals how to really target your group for your shared housing concept and then how to convert additional space into cash-loing rooms. Because once you're running rooms, you no longer need that live room. You don't want that living room. You don't want that living room.

You don't want that. And they're fine in their rooms. You don't want the garage suddenly, you know, off a garage, two rooms on there. You can make $20,000 a year off your garage. Just the garage, 20 grand a year, just from the garage. Then, not to mention,

so we should try to convert those spaces as well, how to have that management structure and how to really scale it. Because the idea is if you're making $3,000 a month profit, how do you get three, four, five, six of these while working your job? How do you have the houseman, like your wife, managing it while you're going to work? And suddenly you've got five of these, creating $3,000 a month. We're getting $15,000 a month coming in in cash flow.

Not to mention equity. You're getting properties below market value. You have real estate. You're building real wealth through these assets in real estate as well, too. So these are the things that we're putting people into where we're giving them the blueprint on how to structure this, which is a really big important part of building wealth. And it's right here outside your front door. I was going to say, what happened to, because when we were talking about this in prison,

well, when you were telling me about how you stole my idea and tweaked it just the left that you felt good about it. No, no, this is different. This is different. All my houses are going to be yellow. It changes everything. but um one of the things i remember this was when you were talking about building and i wonder this is still in your where you had work spaces is that what did what did you remember that

yeah i do remember that it was it was the smart offices concert other small office kind of or like a or like a work from home type of thing right yeah because it's like hey you can live here and have a shared office space which was kind of like what was that we we works we works kind of like the we works thing but you were talking about i think you were talking about that when he was doing right before he went under right what an idiot that like he like he had a great concept and he ruined it was an atom something something something i remember um but uh you had you were basically saying that but they lived there and and um i was going to say so have you ever thought i've actually two questions that that's the first one have you have you thought about going back

to that or no you're just going to stick with what you're well well so here's my philosophy with rental properties and running rooms. The idea is how can you, A, help people, which is a big part of it. Housing is a function that really helps people in that process. But B, how can you acquire these properties, create the rooms, and scale as quickly as possible? How can Mrs. Jones, who's a nurse, working as a nurse, how can she acquire properties that allow her to make $3,000 a month profit? So if she's bringing in $7,000 a month, she needs 10 rooms, how can she get those properties

is quick, a scale, and quick. Well, a couple of things you need to be able to understand how to get financing. That's one part of it. So how to pay for that? So we show, so again, and how do you buy these houses where the square footage is there where you can get 10 rooms? So we know that a basement would be great because you can cut the basement up and create four or five rooms on it.

We know garages are needed. We can cut the, but once you start doing that way, living rooms, bedrooms, bedrooms, like you said, in-law suites, wherever those spaces for us to create rentable cash flowing rooms. We no longer have to build, we just have to build to suit that market. That market has a hundred million Americans that really are in that space. So once we build it and we can create that space there, we can just cash flow quick, cash flow quick, cash flow quick, cash flow, quick, buy these houses, cash flow, buy these houses, and we're creating cash flow quickly. And anyone can do it. So you're not going to answer my question?

The answer is we don't focus on that. We just focus on roads. We just want to run roads. Okay, that's what... We only sell cheeseburgers. We don't sell hot dogs. We don't sell... But, I mean, I remember at one point, you had different versions. I learned about the market. Okay.

The other thing was, and this is when, whenever I was talking to people about it, they were always like, oh, you're going to get nothing but a bunch of... But derelicks in there. That's not true at all. Because, and I used to say this, it's like, listen, here's the thing. The guy that works at Tyre Kingdom that has two kids, he's divorced, and he's got child support payments. Like, all he wants is to work, see his kids, and have a place where he can go to sleep and keep his stuff where it's not going to be ripped off. And he doesn't have to listen

to gunshots in the in the street. It's not, you know, it's not in a horrible place. And he's safe that, hey, when I'm done with work and see my kids and do whatever, I can go home. My stuff's there. I can go to sleep. It's a clean environment. You see what I'm saying? Oh, absolutely. Absolutely. That's who, unless it's in, unless it's next to the project, and you're specifically selling your renting rooms to drug dealers. But if you're going lower middle class areas or middle class areas, then you can pick good tenants that are like, listen, but I just need someplace to keep my clothes and sleep. That's affordable.

So check this out, really, just to really elaborate all right, part two, is rent has gone up four times the pace of the average American income. literally. Rents have gone up since 1985, 195%. So the people that are running rooms today, if you make under $38,000 a year, you are in some type of room or you're in some type of shared housing. So the thing is that it's an economics thing. If you make under $38,000 a year after taxes, that might be $4,500 a week, the average rent in the United States today is $2,000 a month. you cannot move into an apartment. You have to move into a room.

It's not an option. So once you understand that number, and you understand, they're saying, right now there are 6 million units of affordable housing needed, or affordable units of affordable housing needed by Americans today. Six million.

They brought up at the vice presidential debate. They brought it up. So the thing is that people need and they have to move into these rooms. That's why for our landlords, this is one of the biggest wealth opportunities. Landlords are getting filthy, rich. Rents beat out cryptocurrency,

rents beat out stocks, bonds, rents beat inflation. There is no investment that will produce for you what rental income will produce. And that is an explosive opportunity because the house becomes an apartment building. Hey, you guys. I really appreciate you watching. If you like the video, do me favor,

hit the subscribe button, hit the bell so you get notified of videos just like this. Also, if you're interested, in any of Dalsey's programs, go into the description box. We're going to have the link to his website. You can go there. You can sign up. You can check it out. It's super interesting. He's actually got some videos. You do have videos, right? Actually, come to my free webinars. Those are absolutely fantastic. It doesn't cost a penny. Just come get information. Learn. I'm telling you, that multi-room program is absolutely explosive. And it's free. Come join me and get some real

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