Matthew Cox | Inside True Crime Podcast - Inside the $30M Scheme of a Notorious Con Man | The Condo King

Episode Date: May 2, 2026

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Have you ever wondered why songs on the radio are popular? Why does certain movies get made, even though the premise seems completely random? Why are concert tickets costing you $3,000, but nobody makes any money touring? Well, on my podcast, breaking down the biz, we answer all those questions and more. I'm Seth Schackner. I have over two decades of experience in the entertainment and the music industry, and every week I talk to insiders that lend insight and expertise on the media you know and love, past, present, and future. Subscribe now on your favorite podcasting platform or watch us on YouTube so you never miss a beat.

Let's make sense of this industry together. 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 the 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 hall.

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. This is a shoot. No, it's true. Okay. It's true. The bullying shit, they talk 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 it was some of the other 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 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, another. 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 glad that you didn't remember that. Damn, thank you, man.

Oh, no, no, no. My mother was a banker. So my mother was, she had a master's degree of finance. She was a banker with Chase. And my fault, 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. to buy housing.

That was my introduction in the real estate. I remember being a little kid. And I was close to my father. Always. I still am close to my father. And I remember, you know,

just driving down my father up and down Brooklyn. This is like early 80s and me sitting near and him driving through. It was, 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, it should feel great. So that was my introduction into,

getting in 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, uh, came down in Atlanta. I had never done anything in real estate. I didn't even like real estate.

My, uh, my father, because, you know, he was always waiting on a closing. I never understood that shit. Like, how are you always waiting on a closing? We're going to get this. Closing was like, was like Christmas time. You know what I'm saying? It was like the, we got a closing coming up next month. We got a closing.

But for right now, we're going to be. broke, right? But we got the closing coming up. You know what I mean? So the thing was, was that I never stood it. But when I was 21 years old, I had come back, you know, I used to drink a lot. I haven't drank sales. You know, I didn't drink sales in my 20s, 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 how. this lady Charmaine out.

He has some lady named Sherman. This is in Brooklyn. He's in the Browns on 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. It would be no problem. And, you know, I'm going to give you $200 a week and you'll be fine. Charmaine was like this. And what year was this? This was like 1990. $100 a week in a night? That was not great.

No. He was hooked me up. I was drunk, got in trouble in the land. I ended back up in Brooklyn. I'm 21 years old, and it's like 19, maybe 92 or some shit like that. And, yeah, Charmaine there, Charmaine was gorgeous. You know, some chick he had rent in apartments for him, and I sat there, and I'll 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.

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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. I'm like, I'm like, Oh, yeah, I'd love to work with you. No problem at all. Just a well-dressed Trinidadian shit, fine as hell. 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, eh. She says, let them wait. I said, okay, the 8 o'clock hit. And when 8 o'clock hit, it was, eh, 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 just women, women of all ages. And someone was fine as hell.

I said, so I came back, I said, okay, I came back and I sat down. She said, here's a clipboard, here's a pen. She gave me like a stack of them. She said, give everybody a clipboard. I ran out, I gave everybody a clipboard. And these were people, they were on social services. Public assistance, Section 8, Section 8, public assistance, jiggids,

they had an AIDS program called Earp at the time. They had a various 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'd be in the newspapers and calling

up landlords being the newspapers and she would say, 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 there 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, 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 on, like $1,800 or something like that.

And she's going to fall in $900, $900. So I said, wait a minute. You're getting $900. And 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 $1,200. clock. That's why she was working

for like three hours. She's been like making damn a thousand bucks 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 I have to be a broker. I went to my father and I told my father I said hey dad why don't you let me try

a couple of these. I 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 you try one or two of them let's see what you can do. So I'm there working with her So now I'm working with her. I said, I 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. She had 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 six, seven thousand dollars 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 now. And I started calling my friends. Next to, 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 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, oh, 9. 2009. So everyone knew us as

09, 09, and we would have, and then the chicks, I mean, you know, the chicks, man, the shit was endless,

you know, you know, like, you know, women. Stop talking. And then the chicks. You know,

women are subsidized housing. Damn. I know, when you said it was all women, I thought section eight, because I've rented section eight. 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 housing? We were just broken. We were just broken. We were just, we were, we were, and they don't, brookers do is they, they, they typically get like a percent, I guess 15 percent is they get a percentage of the, the annual, whatever is made, you know, or sometimes they'll get, which is basically, it's basically like the first month's rent.

Sure. You know, typically. By right. Sometimes they'll do, 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 think, 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, 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. Let them come on in and we're going to guarantee 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. After two years, they do. It 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 wanted to get into 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. But, you know, selling rock was before that. It was like a free detour. And you skipped that far. Yeah, selling rock was a pre-de-dor. What was that?

When was, let's go back to that room. Well, so I moved down to Atlanta. 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 money. I thought it was going to jump off. 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, you know, night getting fucked up and then days going to work, trying to work, so I had a lot of talent, but, you know, like anything else, if you have these dependency issues and you're dependent on shit, addiction is a motherfucker, right?

So I was down here and I moved to the land. I was like 23 by then, and I'm trying to get this thing off the ground with sales, was 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, all across Atlanta. So I went to just literally go, he goes, you know, he's my big brother, right? So I go, 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 got a customer now. He says, can you just give it?

He had a customer now. He's like a truck right, right? He got a customer. He says, he was upstairs, like doing, watching TV, cutting up a bunch of others. He says, could you give them these two dimes for me? just take it right down to the upstairs his hand to the two domes. I was like, all right, cool, man. I go downstairs and listen, I took those two domes

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? 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 ass

Arguments or situations? No, situations. I can tell you, situation that was crazy. This cousin right here, I could, 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, 1991, 92,

this dilapidated house just sold for about literally like $7,800,000 through the gentrification. That's a whole other story. I was just, I got places in Ybor City that I was buying for. I bought for $40,000. I see them listed for $600,000. It's like, I bought that house for $40,000. It was 20 years ago. It's insane.

It's insane how much these places are going for. That is amazing. how these houses through 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-out.

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 mean, so I'm so. No, right. So this was like a temporary thing, right?

So I'm down here, 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 the morp, so I became incredibly confident. I said, listen, I'm going to get really subtle 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 and I said, I said, 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, jump back. By the grace of God, he misses me to 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. This guy's like right over me and comes up with the ice pick. And I'm thinking, oh, this.

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Now playing everywhere. 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 him running. 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, that's right. 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, it just, no, no. I was out there about it. It's not like the ice pick thing just really just kind of just moving, just moving up. So you went back to New York? No, no, no, no.

No, I said, 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 run 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 model.

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 selling on the court. quote another case.

When I quote another case, bam, bonds out by two cell cases. I never had to recognize that. I'm thinking, oh, God, this is, this is bad. This isn't good. But by there, went to a club one night, met a fantastic lady, beautiful woman. She was angelic.

She was like an angel. She was a nurse. Lisa, if you ever see this, I'm sorry about the way things worked out. I should have made better decisions going for, and 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 going to smoke in two packs of cigarettes. I'm just going to get myself there. Well, I sat there and sat there and sat there. Started getting myself together, got a job, doing gas, deregulatory.

We knocked back then there used a gas deregulation. We knocked on doors where the gas, the monopoly of gas companies are 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 least his 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 day. I'm 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?

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 week, I could not make them in his briefcase is something that's going to make you rich. I said something is going to make me rich. Mind you, I'm so rude up to $20 million. I said, oh, what's going to make me rich? He says, in this briefcase, is a

Colton Sheets brochures. So you got me this is the 90s In the early 90s Carlton Sheets was like He 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 It is is Carlton Sheets And he says He says once you forgot

How to unlock this Because it's locked right He says once you forgot 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, take it. He put that briefcase

towards the end of my girlfriend's bed. I never got, it was kind of like the wall where, you know, you could 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 an apartment 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, 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 to snap on locks, I had to pry it open, pry it open. And our opening, sure enough there was 12 CDs and booklets. And

I read the booklets. I listened about five of the CDs and I realized Carl and she's program was total bullshit. Gave no information, no nothing, it was total bullshit. This was no secret formula. There was no miracle

information. It was total. 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, yeah. So 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,

power face for you broke motherfuckers flipping who have bad credit and don't got shit going on you go out there and get a contract and put a house under contract you didn't even give the details but basically you put house in the 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 to however he said listen he said you just simply get a property under contract called him up in Brooklyn to get a property under contract put it under below market, and then you, uh, you mark the contract up and you sell for it to who? Get the contract from who.

What is the contract? How's the contrary? My dad said, listen, I can't answer all these questions. My dad was a broker. He wasn't flipping a whole lot of contracts. He didn't flip contracts, though. But he said, 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 called 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 deregulation, 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,

handed a piece of pay 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. Let me knock on. I'm not going to do for gas deregulation, right? But I also buy real estate. Like I buy real estate in Atlanta. I buy real estate all over one. And the people are going, okay, all right, okay.

We'll call you for this in a loud 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 them this, right? So I kept doing this for like two, three weeks, knock a door, and sound 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. Really 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, 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 this? It's $200 a week selling dad on. 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, right? And she was so loving and so bad, good-looking girl, too. But, you know, my fuck is broke, right? Yeah.

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. I had phones like, ring, ring, ring. Hello? Hi, Mr. Dawson. This is Mr. Tyson. You called my,

you knocked on my grandmother's door by buying. house? I'm like, oh, shit. So I was like, somebody's really calling about this. I say, oh, yeah, absolutely. Do you buy houses, Mr. Dawson? I sure do. Well, my grandmother has a house over here, and I like to 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'll be right over. So I hung up the phone. I called, I talked. I talked. my girlfriend. I 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 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 has worked? 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 liked 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 tin boots back then. And I jumped in a car with her, and sure enough, we drive down in the Grand Park, that's 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. Dark.

I said, I'm Mr. Tyson. I looked, I said, hey, Mr. Tyson, how are you? I said, I said, is this the house? He says, yeah, this is the house. This is my grandmother's house. And how much you give 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. Let me run some numbers,

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? I 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. Yeah, yeah. 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 him, hey, this is DJ. I'm a real estate investor. I've got a house for sale. I call another one. Hey, this is DJ. I'm a real estate, but I have another.

Finally, this one guy, I said, listen, I 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 a 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 downtown my girlfriend's car. I went to maximize use of our 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 uh and as he absolutely

loves the house i take him i said well we're going to meet mr tyson tomorrow at about 10 on the clock, why don't you come on down and look at Dallas. 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 and 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 you want to give me for the house? Tom says, I'll give you $40,000. This is back in the early 90s.

Had you 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 cool about 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, right, the mindset, right. So, so I say to him, all right, so Tyson says, so he says to Tyson, uh, Tyson says, give me 44,000. I said, uh, because Tom said 40. He says, give me 44,000. And they go, Tom goes, you got a deal.

Tyson goes, great, great, no problem at all. And, uh, they look at me and they say, uh, Mr. Dassey, do you want to do a contract? I said, no, I trust you guys. Why don't need to do a contract? Oh, you really don't know what you're doing. You don't know 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, I said, Mr. Dosser, I'm going to call you once they close. 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. 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 won't. walked away. I looked at Lisa. I said, Lisa, we're going to be rich. We're going to get this thing 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. Ten days goes by. Ten 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 will 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 Call him back after that A couple hours later

No answer then 20 days go by and I'm sitting there. I'm like, what the hell? I'm talking to Lisa. I'm talking about my cousin. I'm like, I had a deal going with these guys. I 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 Slade and then Lucille in the interim of me waiting to get disclosing them. Slate Lucille was about 70 years old. She was killing it in the real estate business. She was doing cash outs,

which I'll get into what those were later on, but she was doing cash outs, absolutely killing it. So in her cash outs, 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 alone. 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. And how old was she? She was like 70. She was 70 and she looked.

But she was sharp. And she looked like she, I swear, she looked about 40. Okay. Right? And at one point, I was confided and I said, we went to lunch and she brought me down on lunch. She said, let me buy you a 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. 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 a tea. I said, Grandpa. In the middle of the situation, you did a deal with Grandpa. I said, yeah. I said, she 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 they 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'd 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 a deal,

and they're going to be a whole deal like through. She says, you're crazy. she says first of all a deal like that you could have made 50, 60,000 easy on that deal I'm like what? Those are 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 should go back fine I go back

I call now we're into the 25th day now we're into the 30 now I'm calling this guy 10 times a day I'm like what the hell have I done I'm calling

finally on like the 35th day after call phone me shit how not 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 to cut. 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? for you, Mr. Dossie, 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. You $3,000 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 an hour. You need to meet me down at. 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. Dawson, you get nothing, and I'm going back to Alabama.

No problem, Mr. Tyson. I'll be right there. Boom, he hangs with the phone, I hang up the phone, I'm sitting here like, I'm like, I see lease. I, excuse me if I can borrow a truck, she gives me a truck, I jump in the truck, I'm going 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 going to pick you up. I want you to come with you. I'd run down, pick her up real quick. We're going down to meet him at the Wachowah. 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. there was a pit bull in 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 boy with this huge silver buckle looking like motherfucking newma 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 I say hello mr tyson how are you he says he's just a 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. Johnson.

He goes, ah, ah, ah, ah. 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. 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 for 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 cash is 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. And I want to get to the last one for the third, 3, 2,900, and he takes it, 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, 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 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 to his way, and his way, moving away, separate him to 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. Darcy. I turn around and say, yeah, Mr. Tyson. One more thing, Mr. Dossy. What is it, Mr. Tyson? Welcome to the real estate business.

I said, thank you, Mr. Tyson. 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 wasn't doing. 2900. I didn't get 3 grand. I got 2,900. Now, hence, let me just fast forward this. Of course, which I tell you, get into all that. My shit took off, right? I eat, slip, breathe, sleeping contracts, right?

I marketed the whole fucking city, signs everywhere. Darcy Richards, property specialist. Property specialist, we buy, I fucking put thousands of signs through that motherfucker. I made myself famous in that city. Two years, nine, two years. later, two years later, I'm doing a deal up at my attorney's office, closing, flip the deal, getting 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 the, um, uh, uh, the sales charges? You got arrested twice for selling. Rock. Did you get probation? Did you get 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 of the 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, uh, 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 a job. 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 and She says, you've been flipping, I've been watching flip houses left and right.

How the hell are you in the union I've gone as far as 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, I flipped her contract,

went and spoke to the judge. 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 prosecution's broke the judge. So when 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 kind of 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 of first offenders. He says, this is. This is. This is. This. This is. This. This. I'm going to do. 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. I had no problem. Now I slipped in contracts a year. Yeah. My problems came later on. But that's what I was doing. I was flipping those contracts day in, day out, 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 contract they buy directly. So what happens is that guy buys a house for 60. He gives, he gives Dalsy $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 and makes 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.

Absolutely. You know, that's hard if there's a mortgage company involved. But 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. And you don't even the average guy. Right, right. Like if you're just the guy buying and selling buying and selling, some of these guys that,

that's all they do is knock on. And that, 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 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, $1,000, $0,000, $0,000, $20,000. Yeah. Because the idea is you're making an offer after, offer after, offer after, it's brutal.

It is intense and it's brutal. Forget about having a social life. But when you're looking to come up, and make some money and you're broke. Like the way I was broke. Are you kidding me? You're going to 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 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, $10,000 rooms on it. I had houses that was renovated.

I mean, you know, the whole story. The idea was, 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 equity as 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 and call. Hello, hey, this is DJ Property Specialist. Just going to let you know we're in the Atlanta area of making a number of cash offers on properties. We understand you're the owner of 2-2-Challon 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. 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 $10,000 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 again, it was just a miraculous story. You know, the women, you know, unfortunately, I left the girlfriend, you know, And moving to my house in West End section, we worked out of there. I started recruiting people, started building teams, started building.

By the way, I ran it to Mr. Tyson again later on when I was successful. And, yeah, that was crazy. One day, like I told you, I'd done that $90,000 deal. I'll never get that more than the deal. I mean $9 because the deal had gotten bigger because we started doing cashouts and things that nature, which I'll get into that. But I was, I called it right. There was a, there was a restaurant that everybody used to eat.

I can't remember the name of it. I think it was like Chantrells 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 clothes in. I'm taking everybody lunch. You know, lunch closing when you do the clothes,

you take your lunch, right? And I'm pulling in. I got a Mercedes. I'm pulling it as I come. But you guys remember, my name is all over the city on those signs. It's like a billboard. Those signs are like free billboards. They're like everywhere across the city.

So everyone knows who I am by the name, right? So as 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 got the night, I'm waving at them through the glass. And the rest of the day, 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 to say right here. Oh, my God, stop the presses, Mr. Darcy. Listen, as I stopped, the ears on my back stood on my back, I turned around and a look

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 says, Mr. Darcy. you should give me some money because it's because of me why you got where you are mr dorson oh look i say you are absolutely right mr tyson i'm thinking myself fuck off but i'm thinking i'm thinking i said you're absolutely right mr tyson you're absolutely right good to see you mr tyson he said mr dorson we need to stay in touch with no thanks mr tyson enjoy your lunch and i would say that but i did have that running from him so i was flipping contracts and i was kiln't flipping contracts. I started doing,

I just always made money and flipping the car. 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 explain to you. Yeah, yeah, explain. So during the height of the of the real estate

loose lending, cashouts 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, 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 the 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. 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, I would go in and I'd give them the contract for $200 grand, and they go, it's $200, I know, but we're going to be doing renovations,

and because it's a construction to permanent loan, which it's not, 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 $100,000. The other $100,000 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 is doing. and everybody involved, you'd have this free-flowing conversation where it looked at 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.

Yeah. Illegal. Illegal. Well, you know, 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, 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, well, you know, like, you 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, 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 you're doing fraud as as a, you know, and the thing is with finance. 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, 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 and no, give me this and no. Walk away then. Walk away. You don't have to sign.

I mean, just emboldened, if I were to do one of those transactions to this day, bro, I'd be puking in the park. Yeah, I agree. I'd be terrified right now. Because you can't do the time. Right, exactly. Because you can't do the time. You can't know what it means.

You don't know what it means. Same thing. 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 a whole other story. Yeah. So the thing. So we started, so we started doing cash outs. So when I had to do cash outs in my business, because I was still flipping contracts, but I was flipping contracts, but also, by way of cash,

my income absolutely took off. And that's where the, the women came in, the, the, the, uh, the fly apartments came in. That's where my cars went from, uh, Benz 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 were making about 10, grand a week.

No, well, no. Not the cash. Right. Flip them 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 half, almost, that's, assuming 40, that's almost half a million dollars. It, and here's the thing. Because I'm only asking you because I've been asked the same. Right. 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 milking uh i was both by all these people in a prison right it could be it could be It could be about all, you know, 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 on. But what happens is that you're not on Boulevard anymore. That's why I used to sell drugs at it, right? You're not on Boulevard anymore with kids anymore. Now, you're a, uh, uh,

hanging out with Kim Porter at Houston's on Peastry 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 $4,500, $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, 10 million, and a market, 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. It just, it was, it just, that's where my mind was. And that's what happens when you, 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, $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, so things, things, things really took off. There was a, I'll tell you to. When I got into cash outs and I saw the power of cashouts, I'll tell you what happened when I truly, truly, truly, truly, truly, truly saw the power of the cash out. And this is where things just really just, again, add these points where things where they were just like these pinnacle, these game changes for me, right? So as I'm doing these deals flipping contracts, flipping contracts, and mixing it 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 was 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, she was like 75 years old. I called her one day to, hey, how are you doing this? DJ Richards, property specialist. Hey, going to let you know, the whole pitch. I like to take a little bit. She says, yeah, I have a property on 2-2-2-ashby, Ashby Road.

I said, great. I said, we'd like to make an offer on it. Now, mind you, is I'm making an offer talking to on the phone. She says, I'm looking at the comps. The comps on the property about $280,000 back then. 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? thousand dollars i said um absolutely i can give you 12 000 i said for matter of fact i can i said but what i'm going to do for you 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's it because i'm thinking but they're like get this deal off the table yeah yeah now don't play don't somebody don't get the deal off the table she said short no problem at all said absolutely great i said again i said what i like to do because i a lot of time working with people in the market.

And I always want to make sure that I do a relationship that is solidified, that I do make sure that we do create that 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. She's like, really good. I mean, don't even wrong. I'm not chasing no 75-year-old, 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 Dawson. So good to meet you, does I? I said, hey, listen, let's get this deal closed. I can get the deal closed for you very quickly. And she was, 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. So she's there. She has a nice home, but it's an older home, right? So she says, but it's an older house.

It's not a big house, bungalow style, maybe 13, 14,400 square feet. So we're there talking. Still worth a couple hundred thousand cleaned up, right? He still worked a couple of thousand to clean up. But I said, how do you get, so I said to her, she says, yeah, my husband, she's been sitting down there, she says, oh, yes, my husband, he died. But he was a contractor, and he just buy a house, buy a house, buy a house, and I'm writing, absolutely, fantastic.

And I said, where's your husband now? It says, oh, he passed away. I said, oh, he said, yeah, he bought over 100 houses. So I'm looking, I said, is that right? Really? He says, yeah, he bought over 100 houses. She says, so I've been selling off a few of them. I said, that's beautiful, Ms. Glass.

Again, Ms. Glass is there with this shining silver hair. She's an older woman. Just gorgeous, right? 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 yourself? She says, 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 liver room. We walk into the kitchen. As you walk into the kitchen, there's a window, smaller window on those older homes, and it's over her carport. The car goes right to the carpet's right there.

She was taking a look, and she pulls a curtain back. And it's sitting there. is a brand new, fresh out the box, BMW M5. I said, wow, that's a beautiful car. She says, oh, yes, this is the M5. I always wanted it. I said, yes, like I said, I always wanted it too.

It's like, I said, beautiful. It's like 80 grand. It's beautiful. She says, oh, yes. I said, do you get to drive it often? She just knows 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, Ms. Glass. Very nice. So we go back to sit down. I do the contract, sure enough to my word, $48 later, we're there getting the contract done, pay her to deal. Deals done. As we're leaving in the parking lot of the clothes attorney,

I said, Ms. Glass, do you happen to have anything else that I go clothes? She says, well, that 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, would you allow me to own a finance those? She says, how much would you give me down? So tell you what, I'll give you $10,000 down and let me own a finance stuff. But I will give you the $50,000 again in 48 hours.

So sure, no problem. So what do you mean? So you said they were they were 15,000. Are you a 15,000 apiece? I'm going to $10,000. $10,000. Right. And there's five of them.

Okay. Oh, okay. 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, she owner 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 into contract for you. So I've got, I've got five of these properties. 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 getting into business. They're excited. They're running. They're 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 showed them the 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 need to, you know, I want to do the deal. I want to get them sold. Call them up. Call my guys. Hey, 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, we got. Gotta get these.

This is what everyone is fringing. Gotta 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. way because I close with Ms. Glass, so I still want to get her out the way. We go up, we go up to the closing. We do the, 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 in. So I sold, I closed, I closed, owner finance, 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. Because for each closing that's taking place up there at the attorney's office. I'm sitting there signing, signing. I'm at the conference table. Because when I got there, there are 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. As I got through signing, signing, signing, I got through signing, sign and closed. Still, at the end of it, I'm sitting at the head of the conference because they were ushering people in back and forth.

The attorney came in. All the people there, you know, and they said, thanks. We appreciate it. You guys did a great job. Thank you so much. Dada, da, duh. 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, after I'm looking, the

attorney's here, 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 what the payoff was and what the check was across the board, and I've got that check for 500. I'm thinking, now these motherfuckers are looking at me like Kunti Kinti, right? They're like, I got to get the hell of out of here, right?

And I take that check, and I slid the fuck about that closing table. And I went out that door. I told everybody, 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 is really dark.

This is one who is 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, out 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, as 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 a bad motherfuckerbacker, 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 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. All right, but just tell I wanted to say hi. You know, you know, I try to Catch her down and she brushed me up. I got a boyfriend just in that. I'll put that check in the account.

She 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 in terms of millions. Always in a million. Always in a million. So it just really just accelerated my appetite, accelerated moving forward. 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 deal making that ushered into, which was when I got into the condo business. 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 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 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 am, at this point, I'm really am killing. I had a girlfriend at the time. another girlfriend town ended up living with Sharon and I were living together and we were living together things just

things were just going south between us I was in the streets I was in the street I was in the street the women had changed and the party changed suddenly you know the women were just going out of the friends the crowd the crowd

I was going you know I was I was the first person in Atlanta in 2004, that boy, 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, my girlfriend and I, we had like a really nice contemporary townhouse that,

that, yeah, remember that, yeah, remember we had this really nice contemporary townhouse. And, you know,

She 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? Do I have 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 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, one day I'm not working. So one day I'm not working. So what I mean, 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, the 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 I wrote down TikTok I said when you get paid but but so it completely

it so when she said I love you I love you I'm you know I mean I loved her too but as a never never been anything more insincere said.

Well, here's the thing. 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 the best way you know how, right? So I'm at work one day. Again, I wasn't coming back home. I 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 I came to. 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. 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. Nah, motherfucker, we're going to do this. I said, listen, do me a favor. Just calm down. Let's take a minute. I'll be right back. He says, all right. 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. But in, in 2003, we're in 2003 by now. The Mayfair was the shit.

Oh, this was just like, 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, you're 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 had just copped the Bentley. I said, this is where the fucking pay. needs to be. This is it.

This is it. So I said to, I said to her, I said to her, I walked into the 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 on the two-bedroom condos? She says, oh, the two-bedroom condos in here are 260. You know, she's looking at me like, $260,000. I'm like, $260,000. He says, yeah, these builds. It's a high-rise beautiful. This is like the pinnacle of the city.

It says, $2,600. I said, yeah. Like, $2,000. I said, is that the biggest one? She says, yeah. So, do you have anything nicer? She goes, the penthouse. So 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 remind you, I got jeans and shit. She can't see my car and all this other shit.

And I got jeans and dishes. I'm like, all right, I'll show you. So remember, this is the shit I've been dreaming about. But I've never been in a penthouse. And I'm just asking this 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 beat in 2004, 2003 was serious shit in 2003. Like that. Man, that was like some serious shit. Beep, I get in that shit, 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 to 33 or 34. This was, so remember, this is 2003. This is like crazy, right? It wasn't that big building. This was like crazy. We're riding up. We're riding up.

We got, there's like four units here for each corner, right? Bro, she opened up the door to the penthouse. She walked and she opened that shit up. It's like the sky opened up in that fucking penthouse. The floor, the ceilings, the hallwood floors, the windows had it just kind of wrapped and opened up. It was just, you know, I looked, I said the kitchen, the granite, the front, I said, I said, the terrorists, the terrace was just, you could, the air was so different.

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 said, you'll take it. I said, I'm going to, I said, I'm going to, I'm going to, I'm going to close on that. She says, are you sure?

I said, yeah. She says, okay, let's go else else to do the contract. So we jump back in the elevator. We go back downstairs. I'm excited as hell. This black chick, you know, good-looking girl. She's got her suit on.

She says, all right, she says, good. So I could tell about 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 right there with her

And we're riding down And we come down back down to the concierge She opens a door up and I see I see the white people with the dog 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 And I sit in front her And she says all right I'm going to do the car all four, I'm going to do the contract for you now. She says, so this one is $800,000. She says, is that your overall? I say, I'm fine with the $800,000.

She says, good. She says, all right, how much earnest money are you going to leave? I said, $1,000. She's not at this level. You're not. She's like, what? I'm going to leave $1,000. I'm like, yeah, I actually going to leave $1,000.

She says, listen, sir. Are you going to be here to waste my time? I'm not letting you leave $1,000 earnest money. And I'm not sitting here to waste my time doing this paperwork. So, 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 earn this 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 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 of you say. I'm not sitting here running around with this before reading. I'm not doing it. I said, okay.

Why don't you just put down, give her 20 grand? Why don't you just say, oh, give you 20 grand? Because I didn't want to put up 20 grand. The reason I didn't want to put up 20 grand was that if my, deal fell apart and my idea didn't work out. I didn't want to lose the 20 grand. 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, I don't want to lose the money. You're not going to lose the money if it's escrow if it's dependent on, 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. They're saying you put down.

They want your money. 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. You got to remember, I'm got, shit, I was, five, you just got someone back on Boulevard. This is no way, you know what I'm saying? I'm thinking $20 dollars totally differently. So what I did was, what I did do was I went back, I left, I went back, I got my assistant, uh, smart-ass girl, that's 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 a 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, Udi, if you're watching this. She reached out to a guy named Udi,

reached out to Udi in Israel and then got the, and left a message for Udi to call me. I called you, I said, Udi, look, told where I was, I'm Datsy Richards, look, I can close this deal

in three weeks. How long have you had that property sitting there? He said, 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 a hundred percent 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 he says, 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, Woody. I'll give you the 825. He raised the price on me. I said, you do me a favor, though. 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 three weeks? I said, a closing. A court 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 10-on-3, did all of our 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 loan officer. He went and processed the deal. When he processed that deal, two and a half weeks, we were sitting at a club. 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 $25,000 to $40,000, I used that towards decorating, went to that deal,

closed 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, Teresa walking through that lobby and we are walking through the door brother the niggins are here you know what

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 there 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 know, you wave the bag. Hi, how you doing? Just want to say hello to everybody. I'm the new owner of Penthouse, 30, uh,

Pennhouse 05 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 drop by 20% about property value.

But, Believe me, and the parties were crazy. It sure did. The parties were nuts. My cousin can tell you, we have, oh, my God. All the white people were doing 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 high house, so, yes, I had moved there. So, wait, 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 smart. And it evolved. And we were in that penthouse. And this is when I went into the conference. 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 absolutely broke, in prison, life gone up in flames and I would find myself sitting across from you in the fucking child. As they're leading them out in handcuffs the sales assistant and he's like,

wow. Oh, he's sitting across with you in a child. 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, I was making well over a million. million dollars a year but I wanted to get I was trying to get in right and I knew so I'm reading this I read all the time right so I'm reading 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 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 the book you have to understand that this part of the story is we've I've heard several times in prison.

Up till all this stuff, I kind of, I didn't really, I 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 bland, it's boring. Yeah. I mean, these are up to this point, have all been business stories, but just this alone would be a great podcast.

Yeah, yeah. So, yeah, it's going good. I'm sitting here thinking the whole time, I'm thinking, ch-ch-ching. 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 all remember, by this point,

I'm hanging out with Kim Porter. I'm hanging out with, I've become friends with people like, and these are people you about I heard of. Kurt and Rashida, what's up? You know, Kurt and Rashida, they, right now they have a, they have a Khop, Atlanta, all these different, I'm meeting all these people across the board. I'm hanging out with, I'm at, I'm with, uh, uh, Kenny Leon, I'm, 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, as we go through, as we go through, as we go, so I, as I'm thinking. 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 city group. But it was Citibank.

He bought Prime America. I think Shireston, is it Sherson and Lehman? It was another brokerage house. It was a conglomerate of financial companies that did everything from insurance, hence Prime America, and brokerage houses, which was Sherson 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. Yeah. 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. Garious, 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 wrote Barbarians at the Gate. Barbarians at the Great was a story about Michael Milken when he left for Jack, Suburham, and Lambert. And they focused on doing corporate,

he focused on funding, merge, focused on funding corporate raiders. And that's 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 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 to 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 cannot manage those projects like that. I'm not detailed like this, especially where I was doing them at the time. And it just wasn't my thing. I was more of a sales deal structured deal. 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're not like an assembly line. I'm not like an assembly line. 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. All right, people talking about condos, condos, condos. Then I said, wait a minute, how much is the average condo? The average condo was, let's just say, $2.50 at the time. But you had these other buildings that people were buying where the average condo 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 gaining them for like 20,000 a unit, 25,000 a unit. 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 bring 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 100. $30,000. 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, so you'd 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 help 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 off so it took off so fast that when i did the 20 units after i paid i renovated it the place is in great shape cost me like 40 000 unit to renovate so give or take 40 50 000 i did the renovation turn off sold out me like 1.3 million dollars 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 renovations right at the hall 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 getting into 100% financing. Now, I was assisting some of them with the down payment. It's going to happen. So. Nothing wrong with that. 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 bill went through. So when the first deal went through, for the 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 guy named, there was a guy named Show Hresh. I was going to tell you to tell that story. There was a guy named Joe Hresh. 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 to 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 mine because I'm going to tell that part as well also. I'm going to tell you the Joe. So hence, pause right around that on that first part of start. We're going to get, we're going to bring Joe Hresh 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 understood, negotiate deals. And he had way more, he had a stronger knowledge-based than idea of the deals.

But 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 just somebody I just really liked. It was just something about his demeanor. He was, he was real calm, real cool. We had a great family.

And we were hustling deals. You know, I was selling the deals. I'd find the deal. I do all the legwork, busts 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, as I'm doing these deals, Joe's somebody 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 equilines. 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, the marketing people brought the buyers in through seminars and he had the bank loaning him money out of low interest rate. and he was turning around and by using credit lines to loan his buyers, the money, to buy his,

on higher the trade, to buy his deals. So he was doing it twice. He was catching the money up the deal because he called himself now hard money lender. He was catching the money that way. And he was also selling them the deal,

so he was getting a spread on it as well. Also, he just made sure they qualify 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, two deals were 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 them the money to buy his deals to spread their premium. And then they refinance into another deal, I mean, refinance to another loan. Get his money back. Start over.

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 Army National Bank. He's easily, 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 guy named Mosch, Mosch. Mosh, so Mosh had a 144 unit. 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 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 building from there. And listen, and the people who set me up to do this deal, they had 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 to 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 won 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, two and a half million bucks.

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 looking, 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 fined. 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. In Midtown Atlanta, he's going and I kind of jumped off that Piedmont strip of building those mid-rises. So that's what he did. He was a developer like that. And he was getting me, set me, he was going... So he took me to Omni National Bank, which the place I had done hard money to do 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. He's trying to bring me to this deal. They spoke to me really fucked up in that meeting. You know, went to the meeting.

They knew me. There was a guy there. I never forget, a guy there 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 of them. But they had a private banking section as well. too. So he takes me down. This is his area, the private banking sector, where he he do for developers and developments. So he's introduced me, got in my office. He says, yeah, DJ's going to do the, and the guy sitting here is 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. It's like, they're in the hard as their team is it. And I'm sitting there. And I knew who Avi was. I'm seeing passing by upstairs. So he's sitting and 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 at, but I could tell by his body language, you know, the hubris, 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. Moshe's the man. You know what I'm saying? So I hear Moshe 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 this through.

He's gone to buy 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. I 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 kuntei kente look.

If you're black, you know the kunte kente look, right? It's like, nigger, get the fuck out of here. You know what I mean? That's overlook, right? So I sat there with Mosei and I said, Mosei 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 fuck him

I'm like I'm not gonna see him from this guy I mean I'm sure he's making money but I'm like fuck him you know so I went I went to Mosh I said look Moshay I know somebody I know somebody who's loaded and he likes me a lot you know what I'm saying he's like I was talking about Joseph Horish so I go back I called Joe I said Joe look I got the 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 a construction money, I have the deals, blah, blah, that. So I'm telling Joe the whole deal, I've shown, I showed them where I made off the other building,

showed them my HUD statements, showing my accounts, I went there, I said, so he's there with his partners at their meeting, so this is what me just kind of running through him. So as part as 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, nah, this is, this is my God. He says, nah, this is my God, nah. He says, I know this guy. He said, this guy is 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 like this. So he says, they go back, they talk. He calls me, calls me 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. Bob, pop, pop, pop, boom.

I said, all right. So I looked at the deal. I'm like, well, I'm going to need like $8.5. We did the numbers like, I'm going, 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 kind of worked is the money kind of came for some of the acquisitions because the 154 units like $4.5 million itself. But then they get the project renovated and it get the product down. So it was a point of it getting renovated to a 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, get $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

to have 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 Mosei I said Mosei 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 Mosei We start talking back We talked 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 I'm 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 understand these 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, you 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 just really, 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.

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 Horesh?

Joe's like, he old than me. And we're all about the same age. Moshay's about yield him. I said, I've worked with Joe through the years. I've got the whole strength. So he says, yeah, he says, but I don't like that deal he gave you. And I just, I just wonder 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. 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 weird. house 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 $3 million myself. Right. Then. But that's just, 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, 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 a lap, but I really didn't deal between my team, my staff, getting a 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 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 going. We go in. What year is this? Right now, I am in 2004. Oh, okay. We put the deal together,

as we put the deal together across the board. I start getting going, go after the first project, which was the 154 unit. Yeah, that's why, Blue Sky, right? Went after that one, for it. Blue Sky went after that 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, you got to,

this is an apartment building. So we, these have like, this is a massive apartment on four acres. So we're taking, so each of each building has maybe, what, 10 apartments, 15 apartments, something like that, eight apartments or 12 apartments per room. 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 out, 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 Bradley first. Joseph, Joe said, do my building first. Right. Joe says do my building. So his building was in prime location. I own the building now.

But his money's in the building. They already started doing the granite countertops, the base, the this, the that, all this shit, of course, on the bed 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 renovation. So as we're getting 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 drawer. I'm like, Joe, we have the momentum going to. I don't understand. You know, Joe's, and Joe's doing all these other. the deals. So we go, we're renovating, renovating, renovating. Again, Joe, 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 drawers 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 spend. 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 it. Just to throw it to my relationship going there with him, it's just, it's just. And I realized something. Joe and his attorney had an 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 $50,000 contracting bills what the fuck. So, but again, he had a lot of units already done. Beautiful grandcount. These buildings were selling for 265.

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 said, no problem. He comes down there. When he comes down there, it comes down. He walks on the property. I said, oh, yeah, Joe, let me show you the unit. I'm sitting there. All right, cool. We get up. I said, it's right in here.

I said, look at the progress we have. We open the door. When we open the door up, fuck it, 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 of eyes come out with fucking sledge hammers. Boom, boom, boom, boom.

destroy a $265,000 unit. Pull, pull, pull, pull. And they yell, next time it's going to be your head, motherfucker. Give us our fucking money, right? So they destroy the units, a stretch. 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 not 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 on a 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 going. 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 in a, I've collateralized all this stuff. Then it dawns on me. Joke and foreclose on me. 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 rezoning I did for the 154 unit, the cash is cross collateralized, and Joe is giving me like 30,000 here, 20,000 there.

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, I then went back to Mesh, Mosei said this guy's going, I remember thinking back in my head, Mouche said this guy was going to fucking screw me. So I came up with an idea. I never forget. I was standing on my terrorist. 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 the day was 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, but 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 on 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 mark the whole thing from there. So what we started doing was selling the people, we're selling people in Florida, with the MLM, we're selling people up and down Cali. We're there parting our ass off from San Francisco, fucking sign-and-condos docks up and down. I was the Highway 1 in California, whatever that desert is, something off in all these correction offices. 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 a note on them. They're just giving me the money to go back and fix it. So now by this case, 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 fixed them.

Now, are they always getting fixed quick enough on time? No, they weren't. It's just when you've got the cash coming out, you've got to get through the construction. I bid off way more in Nakachoo 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 to get 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 in banks, 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 $250. That's what was. I remember, I used to go pick them up. 250, and they would just weigh 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 back.

Boom, we can 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 down, we're moving them through, we're trying to bring the other projects online, we're getting these other deals done, we're bringing the, trying to get this stuff out of it.

Joe has no fucking clue. He thinks every now that we tell him, Oh, Joe, we closed one. He's like, oh, great. He says, this is really moving slow. Yeah, he's thinking, this guy's going to go under. You think this guy's going to 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, but he's got $3 million out. You know, my mentality back then. I didn't get a fuck about anybody but saved my own neck, right?

So I'm thinking, oh, 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 out, 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 down, I'm trying to refine my closing ability. So as my team,

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 closing. 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 it. We're trying to get through. And as we're going through the process, we're like two years into this now. Two years into this process, but it's moving. We're starting to get a little bit better. We had like seven or eight loan officers closing.

And the loan started getting a little delayed. So we processed, process. Yo, how come this 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 another one. They just went out of business. They just went out of business. And I remember sitting here looking at a board with 20,000. 35, 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 at, they were, they were like, they were like, it was a fucking IV drip. Country, I was like the ID, just slowly keeping us alive. They, close hair, close here.

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 this property. Joe says, all right, well, let's get the property going on there. 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. I said, 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 for the board. He found out that everybody was undercutting them because I had to tell him because I had to pay him out. And I said, if I could just get them free and clear, I could kind of move it through.

So we make a deal where for the building that was, he would release my other properties and the building that was left there from yourself, those units, I had to give him, like, 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 million it was like my last two million dollars because the bank I stole up I had the two million dollars we counted up this two million dollars I was like the two million dollars I had a million dollars of it

was in my house right the two million dollars right a million of was in my house they had to get the rest of the money out the bank and we're packing up we boxed together and we go to 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 can sell these deals over. I call this guy, riding him, 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 said, I need to go, now it's on the news. Lenders are, banks have closed all over that. The market has crashed, da-da-da-da-da. The bank finance. And now it's all over to the firestorm. If ranks are closing, da-da-da-da, this is like the Great Depression,

da, da, da, da, da, da. A year later, it hit the news. When they announced that the marks, they mark it closed, this really happened a year prior. Right. Yeah. They waited a year, and then they announced it. It really happened the year before.

So as they're saying, as, as they're saying all this, I asked them, I need some help. I need some help with what's going with what's going on. says I'm losing these properties. The property, the market is in the toilet. All the values are shot down. All the banks are closed. I gave Joe all my money.

You know, 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 went, the value went suddenly our condos were two. $250 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 our cash 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 a, uh, uh, uh, uh, uh, I had sent my mother some money to help her out, some money family members help them out,

we have money coming through, you know, just to make sure that shit is wrong 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 pay 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 Mall and Avenue. I'm sitting there in a house. I'm like, what the fuck is going on? 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 if the feds ever see this shit, I am done. I'm going to fucking prison. I'm like, if they see some shit like this, as I'm doing that, the phone rings.

10 o'clock at night. Right. I look over. is Joseph's lawyer calling me. I'm like, oh, this could not be good. That's all into my mind. This cannot be good. I answered the phone.

Hello? Hey, DJ, this is John. I think of myself, you fucking pieces of shit where I'm in this problem. Hey, John, what's going on? Hey, just wanted to inform you. Joseph just blew his bitch. 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 brains out. Why?

Joe had in that process, man I told you had leveraged all that money that he was loaned to other people that buy properties and 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 dollars in that whole fucking shit. I'm the only one that fucking paid him back. So he loses like $50 million that 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 doing the deals, and I'm working with the chick, 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 shots

so she could do something on our own. She's like, listen, just explain it to me, show me. 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 down. We close like one. But we're still fighting and fighting and fighting. And one night, we're just going through all this shit. It's like two months after Joe's 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 he says, I was so depressed. I couldn't even sleep with her. You know what 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 coming on my ass. You know, the whole thing for the end. It's I'm laying on the couch. If you sleep hot at night, you know how disruptive that can be. Whether you're having trouble falling asleep, you're waking up sweating in the middle of the night or all of the above. That's where ghost bed can help. As the makers of the coolest beds in the world, ghost bed is your go-to for cooling mattresses, cooling pillows, and cooling bedding.

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Even better, our listeners can get 50% off sitewide for a limited time. 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 sitewide. I go to sleep. And as I'm thinking, you know, you're kind of in that room between, like, interim sleep between your awake and you're 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.

And as I'm saying, I hear, is I heard that I had this vision. A vision came to me. In this vision, 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 the same. I pulled that fucking curtain back.

It was the fucking vision. Person for person, crossed the lawn. What I saw in my head was right there. They were right there. FBI, 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 vuffer came through the door, grabbed me by my shirt. He looked at me, grabbed me. He said, listen, 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 home. 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, put a sweater on right now. You've got seconds to do this.

Where's your clothes at? I said, right over it in the back. He rushed me to the back. He said, put him on. I'll put him over there. He's standing with an M-16. The motherfuckerack's backed up. They're like this in the hallway.

They're looking on the hallway. They got Kansas and the sister who pushed shit back. They're like, all right, boom. They put my shit on. I'll 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, 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 the car. they put the um there uh there was not one cup car there

they were just all unmarked cars we jumped with 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's freezing he was not lying we go in that building we go through the chains we go downstairs we go upstairs we go up to the door we go and as we sit down as we sit down as i get there I see my whole team the lawyer A lawyer

The appraiser I see a couple of people that did docs 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 thinking what the fuck is going on? So one of the mortgage brokers who work with me, smart polis dude, you know, Paulus do, love to marry women from Brazil. Who the fuck does that? Right,

but he loves to do that. Can I say that? Yeah, that's all another story, right? So he sits there, we're there, we're all there. We're all there, you know, we're dressed in. We're all sitting there like,

all right, what the fuck? Pretent we don't know what the fuck is going. Like, what's going on? Did I, you go? He goes through the shit, he reads it. He's reading a complaint. He's reading the quote in the statement.

He, we're like, who the fuck is 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. 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 you. So I'm paying this motherfucker. The FBI is paying this motherfucker. fucker. She's wearing a while to work every day. And she is slowly entrapped me, entrapped me, entrapped me, entrap me in the process. And sure enough...

I feel like she was just documenting your fraud. But go ahead. Actually, I didn't mean it trapped me. I meant documenting. She was documented. That's what I meant documenting. I mean to make it. 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, 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. She had a big case herself. Oh, yeah, yeah. She had another case. She had another case. She just knocked off.

The whole thing. Oh, I was a big. I was a big. You probably, you know what? If without, without her, they're probably their fear is you could have blamed Joe. I did try to blame, though. And listen, I 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? Da-da-da. She looks at me.

She's, Dossie. How are you? I'm like, I'm fine. She goes, good. She says, good. We're about to get started. She said, but first I want to just make a few things clear. We're not blaming this on the dead guy.

Oh, shit. I plan to blame the whole thing on Joe. She said, we're up to rip. We're not blaming this on the dead guy. Is this Gail McKenzie? No, this is Barbara Neeland. Oh, okay. Did you ever hear of Barbie Neeland?

No, I know Gail McKenzie was, um, come on. What's his name? Kelsey. Oh, Kelsey's, Kelsey's, yeah. Kelsey's. That was Kelsey. It was somebody else's, too. What?

You had her? Kelsey had it And somebody else had her. Yeah. What's his name? Troy had her. Troy had her. Troy used to say that she loved him. He'd be like,

wait, how to do his imitation? What, let me, how does he sound? No, Matt, who, Troy?

Troy? Troy. Yeah. And Matt, you just don't know. Yeah. I've got Gail, they trust me.

They love me, dad. Yeah, yeah, right, right. He would say he'd like, I go after Gail. I lean, I met Gail. What are we doing?

What are we doing? What are we going? By the way, he said for you to call him when he heard him. He said, he said, tell Matt to call me. 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 going to get this worked out for you. He says, they charged you with two. illegal condo cells. Nothing. 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, 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 it? Two years. Are you fucking kidding me? He says, yeah, two years. Like, as he's telling me this in the court for the rain man, he says, uh, prosecute, he says, excuse me, could you?

To my lord. He says, hold on, let me see I can work. I hate talking. And the lawyer is looking at me like this. Now while she's talking to, 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. And then he walks back over, like deflated and shit. And he's just looking at me like, I'm 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 sold 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 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 the, like you just said, when I said, uh, uh, entrapment, which is not right, was not the term I 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, so when the moment you get away with it, I think that one's done, got away with it.

No, no, no, no, you didn't get away. You got away with it for now. And you, you forget about it. And then when they come to you and then. 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. Right. That was two years ago. 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, don't get any time. No, they, they get a ton of time. They typically cooperate.

They, they get decent lawyers. They try and talk it down. They try and whittle it down. If you're lucky, you, 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 you 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

listen listen not only that let me tell you to the degree that everybody was doing this and and i'm saying that as a cliche i just want to tell you you this, this quick thing. I tell you, I've told this story in, at seminars. I'm set. I'm in jail. Waiting to get sentenced.

Right? I'm going back and forth to court, right? Why don't I'd be going back and forth to court in the feds? But I'm going back and forth to court in jail, right? It's hard to explain to the other guy to the drug dealers and everybody in the year. My lawyer again. Right. Right.

Right. Right. My lawyer again. I'm going back up with the court. So I'm all over the fucking news. I'm going to jail. I'm going to prison. Like, these motherfuckers have me as 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 that girls to the part, 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. Vest, Todd, what is a woman? Maybe about five foot. Two? Another guy comes through, comes out as well. She's not even with a blue jackets, just 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. Cheonger on your hand. They put me in the van. they're riding. As they're riding. They're driving.

I'm sitting in a shackle, going on my way up to court. The marshal, she looks at me from the back. Turns around it to look at me once. I'm thinking nothing of it. We're still driving the corridor. She looks at me again.

It makes eye contact again and then turn around real quick again. So I'm thinking 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 cuff of, I'm shackled by the legs. I'm waiting to go to court. As I'm waiting to go to court,

they have their own marshals in a prison that 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 him.

I'll take him. Where's he at? Okay, I hit a pause. He's right over here, da-da-da-da. So, do you open 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. I get up, shackles on. She has me face the door. come out, come out the cage. The other Mars are standing by the door. She puts, again, chain around and they put the handcuffs on. She starts walking

me out. She says, is we 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 monsters, I got him. I'll take them from here. He says, all right. So now as her and I are walking down the white hallway, we're walking down the hall,

walking down the hall. We get to the elevator, that long hall. Hallway. She opened up the door. I've been here so a time, sorry, no, walk in 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, and the elevator 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 doosh as we're going as we're going up towards her as we're going as we're going as we're going she hits another button 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 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 said, this has got to be a fucking setup, right? This has got to be a, I'm like, what the fuck is going on? So I'm sitting there, I'm playing the cool. 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, Richards, I'm not setting you up. I'm not 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, Richards. Turn around a face door.

Turn around. Did you? And we start walking off to the court. This is to the degree of how this. Everybody. Everybody. Everybody. Everybody. Everybody. I hear, listen, I've done, I have done fraudulent loans for lawyers, for police officers, for doctors, for like, every, every, every, everybody out there that you could think I did that you would think, cops not going to do a dirty deal. The fuck they won't. Not only he's doing a deal, he's getting his wife to do the deal.

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 dollars. 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 that a lawyer wouldn't do that yeah they would I was in prison with with guys in prison and explaining what are you talking about everybody was doing this and they're like

and I was like I didn't one for a lawyer one time and the guy was like a lawyer wouldn't do this like what are you talking to you were in prison right now right right right you just got done telling me how you're your lawyer fucked you right yeah it you're 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, it really, it really was everybody, like the opportunity. Well, I think, 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 conversation. 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. 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 tears. They're watching TV.

Cop walks in, looks around. He goes, Cox. You know, it looks. And I walk out. I'm like, yeah, what's up? He goes, come here. He goes, come here. I'm like, what's going?

Like, nobody leaves at 8 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 right now 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 to a unit which one a one a two it go to the a unit's 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 I'm saying I walked down for 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 it. 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. And I go,

how many of them are actually owner occupied sell or sold and occupied by? Great question. And not right. 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? But we have this whole company. Right, right. 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. Yeah. This is Andy Dufrain doing all the fucking guys taxes for him. And I'm teaching the real estate. class. Like it, this would be hilarious if I wasn't the guy in prison right now. Right. 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 got to be, you got to be counted at 10 o'clock. So they, they walk me back. And I just remember thinking like, it is. It's surreal. It is surreal. It is 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 realize, 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 get them. Because their truth is, they really, those cops were looking for information all the time

about how to do business, how to run. You know, the other thing? Because you've done, because you did all the flipping the contract. 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. 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 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 owner second mortgage hold back? I'm sorry, I don't know what that means. Are these people willing to do owner financing? I don't understand what you're saying.

Right. 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 have. And really the renovations 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? We're 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 that, 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 a second mortgage?

Can you give him to owner finance? Can we do a wrapper on mortgage? Does he currently have a mortgage? Can we do a subject to loan? Like, you know, can he pay my, can, you know, how much money do you have now? Okay, you can do this. And all of these are legal instruments to buy the house. Real estate agent doesn't know anything.

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 and to that point it really it really you know like I tell you all the time the beautiful thing about real estate and opportunity of real estate it allows virtually anyone to just a billion dollars with the real estate outside of someone's door within our city and there are opportunities to take to play in it at some level whether it's a house or 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 locals where anyone can play the access.

Anybody has access. Access. It's a crack deal. A guy who's dropped 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 multimillionaire. Never get licensed. Right.

You don't have to be licensed? No, if you get licensed, hurt you in terms of that process sometimes. Oh, yeah, because 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 that. They were just buying little houses with the extra money that they had.

They had three, four properties. They were like 24, 25 years old, three, four houses that they owned. They just happened to buy and just was with the extra crap 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, that taught across the board. But the idea is, you know, look, when I got to say, When I got sentenced, ultimately I got in sentence, I got nine and a half years in prison. Might as well rind up.

No, it's actually 100 and nine. It actually was nine years. I'd have doing six and a half years in prison. You know, prison literally, literally, you know, my life was pre-prison, then after prison. But prison actually was one of the more enlightening. Uh, uh, you know, this is the same day. You got to meet me. I got to meet you.

Listen, that was, that was the pitiful. That was the height of it. But prison really, really, I, I, 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 about yourself, in terms about your bullshit, about back to the con man 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 up, but your mind, but you have to be around people that are going to tell you. No, 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. And 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 Chomoville. That's not.

That's a lie. That is not what happened. That is not what happened. No, I'm not going to let you. I'm not going to let you do that. Listen. People would ask me, 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. The best job 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. Just 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 their real estate. 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 round number, whatever, maybe 300,000, maybe it's whatever. So you buy a house for 100,000, put $5,000 down, get the owner to pay some of your closing costs, whatever, however 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 $1,000. You know, put that. So now you can rent out all five rooms for, I used to say $150. I mean, now it would be probably a couple hundred bucks.

What do you charge right now? So weekly, weekly, I average rents for about $200 weekly, $800 monthly. There's a bathroom, like a master 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 the, 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 then I tell how much. And these things are making between $1,500 to $2,000, $2,200. I mean, they were 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 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 room. Sure.

So where they're safe and secure. And so I would explain that. And I would say, look, if you. 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. 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 put it on 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. Showville. Showville. I always had so, Chowbill. We had, like,

we had, like, Motown and we had Chowwood Forest. Chowville. Chowville. We had all kinds of different things. I saw, like, mascots running around juggling at Chowville. It was a running, on a unicycle. It became this huge running joke. Guys are running, we would come up with these hilarious things.

But, but the concept initially, Rooming House. Ruming houses. And then you came in when I had explained. I remember, too. I remember, I remember this. 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. He was just disgusted that I would even suggest it. And like I was talking earlier, I rent to Chos now. Now, yeah, I read to that. But I think, I don't know if I was disgusting. I think I just did. I, no, I think you, right, I think when you said it to me, I was thinking, but again, I still shouldn't be discussing. I didn't understand the market.

exclusively a show community, but show 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. The schools, churches. Yeah, I don't get that either.

But I 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, no. But then I remember six months later,

somebody comes up to me and says, yo, bro, 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 called this smart rooms. Smart rooms. You know, whatever it was.

And I was like, what do you mean? And he said, yeah, yeah. He's talking about, but you were building. He'd already gotten a guy. He got a guy who was a Charlie. He was in your unit, wasn't he? No, he wasn't in your unit. He wasn't my unit.

He was a, he was a draftman or an architect. Yeah, he was good, too. He had the whole thing, he had, he had, he wasn't talking about doing it with houses at that time. Do it with a high-rise. He's talking about building. Yeah, it was a high-rise, yeah, it was a high-rise that we did. He had.

Remember that? Yes, you had completely. We had the roads, we had plans. We had pictures drawing out the whole thing. This guy's in there fucking with a grueler and drawing out the whole thing. And I'm like, what is this? Oh, smart rooms. And I'm thinking, dude, 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. We were on probation.

You know, the thing 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, well, I thought you'd go to prison, you'd 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, and then we 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 with 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 covenant.

It made no sense. How the hell is the rent approaching? At that time, it was maybe approaching 17, 1800 nationally. and the average person is making 40, 42, 43, $44,000 on average United States. The numbers didn't work. Yeah. Yeah.

How are you going to pay it? How are you going to pay rent or a mortgage? I'm going to pay to rent a 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, ten bedrooms and one house. You have ten 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 $3,500,000, $4,000,000, you 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 and two months before it's renovated. 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 vacant. 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 book? It's easy. You could put a sign in the front yard. You could run an ad in and, 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. I was 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. 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 didn't

want to get dirt under his nails. He said, raised rich, whatever. Um, but I explained him and And he was, when I told him the concept and did the numbers for 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. Avala, your house was fought, 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 the 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. Absolutely. He'd have taken it down. They don't even want to see it. Bro, you got, I'll take the room. I'll take the room. I don't even have to sit. 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, bring landlords

and peer them together and we take commissions and fees and so forth and so on. But literally, you could like, of every room you make $1,000, $12,000 on the front. Literally, people will send money to my website. All they do is look online, pick a room literally. They'll send me thousands of dollars per week just from looking at the rooms online another way that they do it is people call me hey i'm looking for room i need to move these are people with s sci social security working class these are people that uh uh are some of them professionals and literally very often you set them a video of the room that's it 70 a thousand bucks you put take their card right over the phone literally you're making $12 right there for the and you literally can do this over and over and over again was just on

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 you think about it, if you're trying to live somewhere for $200 a week, where are you going to go? Absolutely. You're not.

Absolutely. If you can find it, it's like, I'll take it. And there's 100 million Americans that make $4 to $500 a week. That's what they're making. So all they can afford is $200 a week. There are literally 100 million Americans are in some type of roommate arrangement. It could be with your wife. It could be with family.

It 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 are 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 an issue when, like, in Cal, in L.A., in Tampa, and a lot of this, the zoning is now allowing. to build mother-in-law.

Absolutely. They were-addened. That wasn't going to happen. Absolutely. Well, there's a housing mandate. There's a housing mandate. 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.

They have to. You can't run a, it can't be a slum. You can't be a slumber. No, not all. And they want you to keep the tenants. They just want to make sure the tenants are in. And there was a time where it was a different story. But today, they want people in houses and 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 would 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? Seven times eight times seven, what's that 49? So you're getting $4,900 a month just from the basement. You still have the upstairs. We 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. comes from these units. So that's really where we're putting people. And so we're showing people, listen, you don't, you can, you don't have to worry about buying a multifamily. But like you said, they're not buying a two, three million dollar 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 our cash flow room system and you could turn it into a multi-unit cash flowing property. Each room is a cash-flowing

furnished rooms. So now the rooms act like an apartment giving you multi-units of cash loan. 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'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 residential mortgages are extremely available for the average person. How is accessible.

So if you're thinking, hey, I work at Walmart 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 into rooming houses, one, two, three, three years later, you quit your job. I can quit my job and just live off for this. 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 all together. 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 went, 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 I 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. 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 from those rooms. Are you teaching these guys to manage themselves? Or because my ex-wife has a bunch

of these properties like that. And she has somebody, she calls them a houseman. She always have one guy in there that will collect the rent, mow the yard, she'll give him a discount on his, right, mow the yard, you know, clean up everything. And then he, she calls, he calls her like once a week and she drives up and gets out. 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 used to be, they'd walk out and give her the cash. But, um, 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 nothing.

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 their account. Oh, I don't know about it. I think they all pay her like cash out. Right. So this way, 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. 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. 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 price. processing. We have our team do the process and the money covers it too. But like your wife, they cover the whole gamut of the whole process. So now it's cash flowing. It makes money. You don't have to lift a finger. And that's a big part of it too with the management. Once it's structured, you don't need to lift a finger like your wife.

So who, I mean, so 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 how to acquire real estate, how to build out that real estate, how to get 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 them how to use properties, how to do rent-to-own. Because a lot of times you really don't need to own the property.

You can actually rent a 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 travel, is 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 leave in that. You don't want that living room.

You don't want that living room. You don't want to, 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, $20,000 a year, just from the garage. Not to mention that. So we should try out 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 going to 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 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 enough 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 one of the things I remember, this was when you were talking about building. And I wonder if this is still in your where you had work spaces. Is that what did? Do you remember that? Yeah, I do remember that.

It was, you know what it was? It was the smart offices concept. I had a small office kind of 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 worked.

Kind of like the we works thing, but you were talking about, I think you were talking about that when he was doing it before he went under. Right. Of course, what an idiot. Like he had a great concept and he ruined. It was an atom, something, something, something. I remember him. But you were basically saying that, but they live there.

And I was going to say, so have you ever thought, I've actually had two questions. That's the first one. Have you thought about going back to that or no, you're just going to stick with what you're doing. 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 she's bringing in $7,000 a month,

she needs 10 rooms. How can she get those properties quick, a scale and quick? Well, a couple of things she needs to be able to understand how to get financing. That's one part of it. So how to pay for that? 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 down there.

We know garages are needed. We can cut the – But once you start doing that way, living rooms, bedrooms, bedrooms, dining, like you said, in-lo 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, cash flow, 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 I'll tell you all that. 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. Yeah. 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 seeing 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 the project and you're specifically selling your renting rooms to drug dealer. 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 what happens? So check this out. Really, just to really elaborate all that 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,

houses 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's 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 a 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 Dalsi'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? Yeah. Actually, come to my free, 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 information. Sorry, did I jump in? No, no. It's perfect. It's perfect. It's better than I was going to do. So yeah, yeah, go in there. The link will be in the description. We're also going to put all of Dalsey's social media links. We're also going to put his, and he's got a, he's starting a YouTube channel. So that YouTube, he's going to have some interesting stuff on there too. Check it out, subscribe, follow.

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