The Iced Coffee Hour - Buying The Cheapest Real Estate In America | Confronting Minority Mindset

Episode Date: December 13, 2021

Get $10 in free Bitcoin when you sign up today at https://Coinbase.com/ICH Lock in your best rate today and get your family covered with Ladder at https://ladderlife.com/icedcoffee This week we have on Jaspreet Singh from Minority Mindset. We talk about his start in finance, on YouTube, some of his business ventures, and much more! Minority Mindset: https://www.youtube.com/c/MinorityMindset Add us on Instagram:  https://www.instagram.com/jlsselby https://www.instagram.com/gpstephan https://www.instagram.com/alex_nava_photography Official Clips Channel: https://www.youtube.com/channel/UCeBQ24VfikOriqSdKtomh0w DOWNLOAD MY NEW FINANCIAL APP: https://hungrybull.page.link/graham GET YOUR FREE STOCK WORTH UP TO $1000 ON PUBLIC & SEE MY STOCK TRADES - USE CODE GRAHAM: http://www.public.com/graham  MY NEW COFFEE IS NOW FOR SALE: http://www.bankrollcoffee.com/ Join the 2x weekly mentorship group: https://tinyurl.com/yaexko4o The Equipment used: https://tinyurl.com/y78py5g2 Audio Equipment Used In Podcast: Rode NT1, Rodecaster Pro The YouTube Creator Academy:   Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF  For Podcast Inquiries, please contact [e-mail] *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices

What's up everybody. I am Jasperid Singh. We're here on the iced coffee hour and we have made what two hundred thousand dollars Wow, that's that's fairly close. Yeah, it's a guess that wouldn't tell me. Yeah, it's a hundred and twenty four thousand dollars you've made to date Yeah, that's good. I am so happy to have you on you have no idea because I've been watching your channel for like six years since the very beginning My man you were one of the OG finance YouTubers before anyone else. I kid you It was you and I think pretty much beat the bush. And then the big names of like Ty Lopez, Grant Cardone, that was it. Finance YouTube didn't even exist. And you were making videos back then.

Yeah. And you were one of the first channels that I came across. Thank you, Matt. I appreciate that. Yeah, like I would watch your videos. And I didn't even know there was an audience for this. But I think at the time, you maybe had like 10,000 subscribers. You were just starting off.

And I looked at your channel. I remember thinking, like, if you could be getting a few thousand views of video, I at least knew that I could get 100 views of videos, something like that. So, you're crushing it, man. Thank you. Thank you, man. And congratulations, you just had a million subscribers on YouTube. Yep, yeah, thank you, thank you.

It seems like you've grown quite a business from this as well. Yeah. Expanded from real estate, doing this as well, investing on the side. So first of all, I want to know your entire, like, how did you start making YouTube videos? And at what point did you start investing in real estate? You know what, so many, I'm going to let you take away. I'm just like, you have no idea because again, I've been watching your channel for something like that.

It's just, I appreciate it, grandma. It's nice to be here with you, nice to finally meet you after years of talking and finally connecting. I didn't know that we were going to connect in Vegas, but I'm glad we were able to make it happen. I started a minority mindset, actually on accident.

I was working on a different business at the time. It was in law school. I got scammed during this other business that I was running. And I was like, this sucks. I didn't grow up with any sort of financial education. I never grew up learning. about investing, never grew up learning about money management, never grew up learning about wealth, never grew up learning about entrepreneurship. And now here I am trying to figure out this whole

entrepreneurship side of thing. I'm seeing success. I'm investing my money. Now it gets scammed. I'm like, God dang it. Like this sucks. Yeah, we got to know about that. We got to know about that scam. Okay. So I was working on the sock company and we were getting ready to launch. And this company comes up to me. They're like, all right, we're going to guarantee you all these sales, blah, blah, just pay us this money and it's 100% money back guarantee. Now, I'm kind of like, I don't really trust everyone that comes to me and says that, but he was like, it's a 100% money back guarantee. If you're not 100% satisfied, I'll give you all your money back.

So, okay, I gave him the money and the next day, I just like, I was like, I wanted to do the marketing myself. I'm a marketing guy, right? So I was doing the chest flies and I was like, something doesn't feel right. So I called him up. I was like, hey, you know, I don't want to go through with this. And he was like, okay, no problem. puts me on hold, stay on hold.

And I'm getting irritated because I'm like, my workout's getting screwed up. So I'm waiting, I'm waiting, and waiting. And then it just goes, beep. And I was like, what? So I call up his other number, no answer. And that's when I found I got scammed. I didn't hear from them again. They took the money in the ran.

And so now I launched the business. We had a very successful launch. I think we did like, you know, I was $21, $22,000 in pre-orders in the first few weeks. Wow. So it was a great launch. But I was still like, I had that in the back. in my mind, I was like, this sucks, man, getting these type of people out there that are just like discouraging you from trying to start something. So I went on to you, Demi, and I created

a class on how to launch a business without getting screwed over. And it was under the alias minority mindset. The whole idea mean you had to think different than the majority of people. I think I charged like seven bucks for it. I wasn't really trying to make money. It was just like, I was so irritated. And that class got a lot of love. And everyone was like, you need to start an Instagram page. Okay, so I started an Instagram page talking about the same stuff, entrepreneurship, financial education and everyone was like dude your content is good can you please start a blog like deeper content i was like english is my second language you're not going to like my writing so no i can't start a blog but i'll make videos like i like i like talking so i just made a youtube

channel under the name minority mindset and i just started putting out of videos here and there and it was like i didn't know what i was doing it was just for fun as a hobby and i remember a few months into it one of my buddies was like hey man how much money are you making off of youtube i was like What are you talking about? He's like from your ads. Like, aren't you making money? He's like, no. He's like, you know, you can turn monetization on.

So he goes onto my channel with me. Shows me that I can turn monetization on on my channel. I was like, oh, I was just doing this for fun. I didn't even know why I can make money doing this. So it started off as a hobby. And now minority mindset has grown into something a whole lot bigger, into a full business. And it's just kind of crazy that it started off as a hobby.

I never expected to be making videos. I never expected to be in the financial education space, but here we are. not one of the fastest growing financial education and media companies. So I'm so curious, when you started the sock company, how old were you? Did you go to high school? Did you go college? Did you think you wanted to sell socks?

Was that a goal? No. Like 10 years old. I'm going to be the best socks selling. No, so I was always an entrepreneur. And I started a lot of different businesses. But I never had any sort of traditional business education. And so the way I learned was by starting businesses trying and failing.

So my first real business was when I was, I was in college. I went into college. Let me go back a little bit. I was in high school. I used to work at Indian weddings. And the DJs were like, hey,

how about we start hosting teen parties? I was like, and now my parents don't like me doing anything that's not medical related because they were like, you have to become a doctor. So now I'm hosting these teen parties as a junior and senior

in high school, kind of as a hobby, making a little bit of money. And I was like, oh, you know, this is fun, but now I've got to go to college. Let me settle down, go become a doctor,

and really just focus on, the things that are going to make me really successful in life, being a doctor. Go to college, and I had no idea what to expect. My parents did not go to university here, and I didn't really know anyone that went to college here, so I don't know what college was like in America. I assumed that everybody goes to college to study. People spend Friday nights in the chemistry lab studying.

Go to college, and everybody, everybody's around me partying, blowing their money that they don't have. Florida State. Yeah. No, I'm kidding. I was at the University of Michigan, and it was nuts, And I couldn't believe it. I was like, well, I don't party.

I don't drink. But I need something to do on Friday nights. So I was like, instead of me, you know, just trying to waste my time, how about I start hosting the parties that the majority of people are going to? So that's what I did. I was a freshman. I was 17 years old. Start knocking on doors at every club, venue, bar, restaurant, you name it on campus.

And some of them would say, yeah, you can host a party here, but pay me $10,000. I don't have got $10,000. But some of them would say, yeah, you can host a party here. Just give us half of the revenue generate, half of the, cover charge. I was all right. So now I'm in business. 17, I started hosting these college parties and that grew when I was in college to essentially become a full entertainment company. We were hosting parties, concert shows. We had events every week. I was contracted by the biggest venue on campus to host our college nights every week. And so that was growing. And that was how I had the

cash to start investing in real estate. Started investing in real estate when I was 19. And that was when Now towards the end of college, I was like, oh no, I don't want to be a doctor anymore. Now what? How much were you making then? Well, I was making probably on average two grand an event. Wow. And, you know, at least one event a week. That's interesting.

What? My biggest event made me probably generated right around 16 grand. No way. Yeah, I mean, I was in college. How did you get so many people to show up? Man, it's marketing, right? So I was, so with the first thing that I would do, it's all kind of just how do you now get people to know about the event and get excited. So the first thing we would do is we would start promoting on Facebook.

This is before, you know, Instagram was popular on all this. Facebook used to be the thing. Wait a second. I remember, I haven't used Facebook in a while. I remember you would go to the events. Yes. Wow. And you could invite other people to the event.

Oh my. I forgot. Now you know the business behind it. That was a major thing. I remember for me. in high school because it's like I remember like the best the best parties I wasn't a party year in high school but you'd want to get invited to these certain parties and they would all do it through Facebook yep yeah and it was like you had to get the invite and sometimes we'd be like

yo man could you invite me to that thing and they'd have to go on theirs and like yeah because then you'd be in the chat people don't do that anymore but Facebook was used for that yeah it was huge so what we would do the first thing is we would go if the event was in September we would look at all of our friends birthdays in September because Facebook Facebook tells you this. I've been message each and every one. Hey, it's your birthday month. What we're going to do is we're going to give you free VIP access into our party.

It doesn't cost me anything. But we want to celebrate with you. We're going to give you a shout-out. So the DJ is going to announce your name and say, happy birthday to you at the party. They're going to say, okay. Now, if they come to celebrate at the party, they get it coming for free, but no one comes to celebrate alone. So they're going to bring all their friends. So then what I would do is I would get kind of promoters at every major campus around us.

So these promoters were popular kids. and all they wanted was free access into the party because if you came in as a VIP, you would get a lanyard. That would cost me like $3. So I'd give you a $3 land yard. You get to come in for free. It doesn't cost me anything.

But now what you're going to do is I'm going to give you a stack of flyers and you're going to tell all your friends because you're that person and you want to be that cool person. And so they would start telling all their friends to start coming to the parties. So now we've got like these essentially salespeople, these agents in different universities promoting. And then I would spend $100.

It used to cost me $100 to print 5,000 fly. for the party. And before the event, it was a requirement that we had to get rid of all 5,000 of these flyers. So everywhere, I mean, we would post these flyers everywhere. And so it's just word about getting people excited, coming up with different themes, different ideas, partnering with different organizations. And, yeah, man, I mean, it was just a matter of being creative, just like anything else. But first, I want to thank our sponsor. Alex, I do the intro to the sponsors.

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They also have a mobile app which lets you trade securely and monitor your crypto all in one place. Well, Alex, no wonder you were so excited to do the intro. Seriously, guys, everyone here at this house loves Coinbase. I use it. Jack uses it. Graham uses it. Even Bailey uses it. And it's easy to see why millions of people in over 100 different countries trust Coinbase with their digital assets. And for a limited time, new users who sign up get $10 in free Bitcoin. That's right, $10 in free Bitcoin. All you got to do is go to coinbase.com slash ICH. And it's for a limited time. So be sure to do it today. That's coinbase.com slash ICH. Thank you so much, Coinbase for sponsoring this episode and back to the podcast. Could there have been any liability issue? Like if your parties get a little too crazy. I became a bouncer.

Every night. I was a bouncer every day. So it was, I mean, look, I'm going to tell you, I'll be completely stared up. It was dangerous. And that's one of the reasons why I got out,

because the first party I did, there was an issue with, there was some beef going on between some people that came and me and my DJ friends. Someone pulled a gun. No way. And so, you know, we had to get out of there.

every night I was a bouncer I you know I got into a lot of kind of altercations I didn't really no one didn't like me I was I was able to get along with everybody but there's people that didn't like each other so I had to you know kind of separate that and I mean just to kind of put it in a perspective you know I went to a club one day to go talk to the owner because we were doing an event soon I was like you know where's this guy and he's like oh he got stabbed last night so you know I'm in place for him I was like So that was one of the things that we always kept a knife on us at the DJ booth. So it was a rough business, man. Like it wasn't easy.

But for me, like, I'm just getting started. It was a hustle. And that was kind of what's, and I knew I did not want to be in this business anymore. I mean, I didn't like the partying. I didn't like the drinking. I didn't like the environment. But for me, it was like, I'm making money for the first time. And it taught me a lot.

And it gave me the education, taught me how to speak with people. And that kind of set me up for a whole lot of other things. But yeah, I mean, in terms of like liabilities, you know, I'm an attorney now. And I shake my head because it's like, dude, like the dumb things that I did. Like, I am so fortunate that like, you know, things worked out. And yeah, I mean, it's unfortunate. You know, when people get too intoxicated, they do some dumb things. And it's just I don't like that industry, which is why I got as far away from it as possible.

I don't like it. But it was kind of like the only thing that I knew. And that's how I started. But six figures in college doing that as a side gig, while, studying is just it's insane i was working a lot man yeah no kidding how many hours you're putting into that a lot man let me put it in perspective like fridays if i had an event on a friday i'm a class all day i'll be planning the event so from morning to evening you know i'm just working party starts at 10 pm so 8 p.m i'm going to go to the venue and start setting up party starts to 10 i'm there till 2

after 2 that's when everything gets uh kind of torn down make sure everything is okay and then 3 3 330 I got to make sure the DJs could pay, everyone gets paid. Greet through 30. We leave. Probably get some food. Go to sleep around 4.30 in the morning. Wow. And then the next morning is Saturday.

And I'm working on the wedding business. People get married on Saturdays. So then I got to be setting up early in the morning. So I got to be at the venue probably 8 a.m. To start setting up. And now I'm at the venue until midnight because you got to set up, go through the entire event. Make sure the event is all good. Midnight you're done.

Now you tear down. and then now you go home, you know, 1, 2 a.m., which is now Sunday morning, wake up the next morning, start studying, and start the next week, start planning for the next week. So, I mean, I wasn't sleeping much, but it was, you know, it's that hustle, you got to be willing to put in, that I put in, and that was kind of like how I learned, how I started, and then it built kind of the whole foundation for everything else. So it's kind of weird that, you know, I never thought that this event planning thing would have ever become anything, but it was a lot of education that I got up.

out of it. Yeah. For the work ethic though, were you always like that? Or did you have an example of like your your parents worked really hard? So you kind of took after that? So my parents came to this country with very little. My dad came to this country with less than $100. They didn't know the language, didn't really know the people, didn't know the culture. So he had to bust his butt. And he always told me, you know, I didn't spend a lot of time my parents when I was growing up because they were always working. And my dad always told me there's no such thing as a sick day. If you take a sick day, you're not working. If you're not working, you're not getting paid. You don't get paid. You got money to eat.

So that told you, Jack. You told me that. Mr. Vacation in Maui next weekend. Yeah. Jeez. So, yeah, I kind of, I saw that. And the hustle I always wanted to give back to my parents. I wanted to give back to my family.

And even my grandparents, my grandparents were refugees. My family is from a state in India called Punjab. And in 1947, my grandparents were on the left side, the west side of Punjab. And the state of Punjab was severed by the government. And what they said was, if you were sick, a person of my religion and you're on the west side of Punjab you're going to migrate east

where you're going to be killed and so my grandparents picked up and they ran my grandfather all he had was a shirt on his back and a sword in his hand they saw a lot of looting they saw a lot of riding

he got attacked by a mob he saw his uncle get his head chopped open right ahead of him and yeah so they put him on a horse came to the other side of India now didn't even have shoes on his feet he lost his shoes along the way

and now I had to start up from scratch. So then, you know, I grew up with my parents and my grandparents. They lived with me. So, like, they kind of always told me this, the things that they had to go through. I saw what my parents had to go through. You know, I didn't grow up poor or broke or anything like that, but I saw the meaning of hard work. And so I didn't really know what I wanted to do, but I knew I was going to be willing to work hard to get it. Because I didn't have this sort of, you know, business background, but I was willing to work to learn it.

And so that was kind of the foundation. And then when I got to college, my buddy of mine, a DJ friend of mine, he gave me an audio CD by Eric Thomas, a motivational speaker. And man, I used to listen to the thing every day. And that was like, okay, I got to work hard. And then once you start working hard, you start to see more opportunities. Then you start to realize, okay, how do it work smart? You got to know how to do both that we can get the best results out of your hard work.

But you must have, like, like, how did you learn about the financial education? Because you said you bought your first rental property at 19. Yeah. So this was at the bottom of the 2000. They crashed. You probably remember. Yeah. And so I'm guessing this was from your working through college, right?

Yep, yep. So I had some money put away. And I'm in Michigan. And Michigan was hit hard. GM, Chrysler and Ford are the biggest employers. And they were back then. GM went bankrupt. Chrysler and bankrupt.

Ford was on the verge of bankruptcy. So Michigan was hit hard. I had no idea what was going on. I didn't know any real estate investors. I don't know what real estate investing was. I started reading business books, money books. And every book said, wealthy people invest in real estate.

I don't know what that meant, but I was like, okay, this sounds cool. Let me do that too. So now here I am. I'm 19. I'm studying for the medical college admission test, the MCAT. And, you know,

I read these books about real estate. And every time I take a break, I go into Yahoo Finance, and the top articles are always, real estate market is at rock bottom. I was like, okay, so what do I do about this? I was like, yeah, I want to do something. So I told my dad,

it's like, dad, I want to start investing in real estate. I was like, you're stupid. Go study. Become a doctor. You know, he didn't have any financial education. They wanted the best for me. And I was like, you know, but I want to do this. So I started calling up different people, agents, and I was like, okay, I want to

look at real estate. And I found this condo on sale, a 1,000 square foot condo, one bedroom, one bath, in a great location next to a lot of stores, a lot of businesses nearby. And it was on sale for $8,400. And I was like, I don't know anything better. I looked at some other properties, a $30,000 home, a $40,000 home. Like, it wasn't anything out of the ordinary. So I saw it.

I was like, okay, this is pretty good. Doesn't need a lot of work. I put an offer for $4,000. And we started settling. They came down to seven. And then they said, there's a bidding, there's another offer on the table. And I was like, okay, well, I don't want to lose this property. So I made an offer for eight.

I was like, I'll give you a little bit more. Kind of negotiated. And they accepted. So I bought the condo for eight, burn a few thousand dollars with the work. And I rented it up for $600. And now all of a sudden, I'm in business. I'm like, wait, what is this? This is passive income.

Like it took me a while to understand like the hang of things. I went through a lot of crap. But once I got the hang of it, I was like, wait, I'm making like a little bit of money here. And I don't got to really do anything. Like it's like I own the asset. The assets paying me. Why was I never taught this? Why did our schools never teach us about investing?

I mean, I went through, I was a good kid in school. I bust my butt. I checked all the boxes. But I never learned a thing about passive income. I never learned a thing about investing. I never learned a thing about wealth. I never learned to think about financial freedom. What the heck am I doing?

a school and everyone says, oh, you don't got to worry about money. Money doesn't matter. Don't don't think about the money. Just do follow your passion. If money doesn't matter, then tell your boss not to pay you, right? Like, I mean, it has some, like the reason why you're going to school is to become successful, that way you can be financially free. And the way for you to really not worry about money is if you're wealthy, that you don't really care about money because then, you know, you've already become wealthy. And so that's kind of the real disconnect that may be really upset. And I was like, this is, something's wrong here. There's a reason why so many people are broke. There's a reason why so many people are struggling with their money.

It's because we are insecure about our money. We don't want to talk about it. And then we put us smoke screens. Don't worry about money. Don't talk about money. I'm saying let's change that. How about we start talking about money? Let's get financially educated.

And let's see how now we can take care of ourselves. We can take care of our families and our community by becoming wealthy ourselves. Because if you understand money, you can do a whole lot more. And you don't got to have all that sort of stress. Now, I agree, money isn't everything. It's one part of our lives. But if you don't have money, can really impact the rest of your life.

Right. So that's where it's like, you know, the whole financial education importance really started hitting me there because I was like, this is so screwed up. But first, I want to thank Ladder for sponsoring this episode of the podcast. All the recent holiday festivities

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Thank you so much, Ladder, for sponsoring this episode and back to the podcast. The biggest liability for young people nowadays, millennials, is student loans, right? It's like student loans are what we are supposed to get in order to get educated so we can get a good job. But then I started lurking more into that. And the number one asset for the United States government are student loans. Otherwise, something's not adding up here because the government keeps talking about how student loans are a problem. We have the student loan crisis. Millennials cannot buy homes because student loans.

Millennials cannot afford to build wealth because student loans. But at the same time, the government's saying it's our number one asset. It is the thing that is funding so many government operations. And now they're saying it's a problem. It just doesn't make sense. And that's when I was like, you have to start doing your own education. And you need to start thinking outside of the box, right? That idea of thinking differently that the majority of people.

And that's when I really started kind of going out of my way to learn things that the majority of people don't talk about that we're not told to think about. Kudos to you, man, for going on your own and finding a rental property without any, like, influence of your parents or anything. At the age of 19, while going to school, studying probably full time, while working and doing this insane, like, business that you were doing on the side throwing parties, that's actually, that's amazing. And also that seven or $8,000 house, what was your like monthly mortgage payment on that?

Like 60 bucks. What a cash? What a cash. Oh, you would be getting a mortgage? Mortgage on the day. They would actually, I talked to the bank. I talked to, because I called up a bank. I was like, I want to get a mortgage.

The company is the home, 8,000. They were like, what they told me, I remember, they were like, we can't give you a mortgage on a home unless it's at least 30 grand. And I was like, oh. Because, yeah, consider this. Let's say eight grand. And he's going to put down a thousand hours.

And then on seven thousand hours. No, let's just say this. He's going to pay a $500 appraisal. He's going to pay $500 to the title company. He's going to pay so much money on the back end. I would say your expenses would be like $2,500. On a $7,000 more excuse me. I overlooked that.

Yeah, that's so you were basically making, what, $600 a month you said? I rented out for $600 and half of that was profit. You know what's crazy. I remember back then in Detroit, they were giving away the, the famous $1. And you could buy a home for a dollar. And believe it or not, they had such a difficult time even with that

because people didn't want to fix up the home. So the stipulation was that you could buy a home for a dollar, but you had five years to fix it up. And usually it's, gosh, I'm guessing it needed between probably $10,000 and $25,000 to fix them up. At least. Right. A lot of them were actually just full demolitions.

You had to break down the home for it to be worth anything. Yeah. And that's what people were like, it's not worth it. Yeah. These houses had like no copper piping. There were no fixtures. It was basically just a shell of a house, basically, just the walls and a foundation that was probably cracked.

But yeah, a dollar to buy a house. Be all in like $35 grand. That's amazing. And what do you think those like dollar homes would be worth now? Well, I bought a lot, a number of homes. So I started to buy a number. And like, I'll put it in perspective. I took my mom on some of these rental property tours.

and these were $5,000 homes. And my mom was like, oh, my God, it's disgusting. Don't buy this home. And those homes that were five are probably worth close to 100 now. They probably needed like 15 worth of work, 10, 15. Like it was like a broken carpet, I mean, like dirty carpet, ugly walls. But yeah, I mean, a lot of the homes that I bought then are worth five to 10x what I bought up for, which is just, I mean, it's insane.

Like, because I didn't really know what I was doing. I was fortunate regarding the time, like, when I said, started buying. But like, yeah, I made a ton of mistakes. I made a lot of screw-ups, but, you know, that's how you learn. Detroit was one of the areas that was so hard hit. It was the hardest hit, I think, anywhere in the U.S. I think Florida, I think Miami was like the other, the other place, but Detroit was the hardest hit area in the U.S. And I remember back then that a lot of people thought Detroit would never come back because they thought, well, if Ford goes out of business, these car cars, like, like that's, that was the entire job market, basically just was decimated. Yeah.

And they're thinking, who's ever going to come to Detroit anymore? What's the, what's the appeal? It's got, it went, it got so bad. And properties were foreclosed on for a year, like five years. Yeah. And we're just in such disrepair that people were like, even six thousand dollars. Yeah. Detroit went bankrupt.

Yeah. It was nuts, man. I mean, and it's unfortunate, all the stuff that people went through, the things that the, the people of Detroit, all the crap that they went through. The school system still is going through a lot of problems. Even now. So I visited with Kevin. I think it was three years ago. And even then, I mean, there's some parts that just have not recovered.

Yeah. There was a proper house fire. Yes. That someone lit on their own, right? Multiple houses. So we went to, well, we were driving down the freeway, and we literally see this, like, fume of smoke that's piling up. And Kevin's like, she'll go see what that is. And so we drive down there, and sure enough, it's this house that's on fire.

And I'd never seen a house on fire before. where there's actually flames like coming out of the roof and everything and it's nuts and we got there before the like the fire truck or anything got there and so we're so Kevin's talking to the neighbors

I'm like you know we just watch from the car see what's going on now this is an empty house by the way so this is not like someone's house that was burned down it was in this community of maybe 100 houses and I want to say probably 80% of them were vacant nobody there

but sure enough Kevin starts talking to people and they say oh yeah I know this is another one this day we have someone someone around here who's bored and they go and just burn down these houses and they're like what's it's horrible it's like that that's their that's so anyway so this house is burning down and meanwhile

a house like I don't know five houses away starts going up in flames as well like you saw this all happening? Yeah oh my gosh it's all on video it's all on video and so then the fire truck gets there they're putting out this house the other house starts going up in flames so then they're like they call for more and they start going the other house and then about 30 minutes

later, another house burns down. And again, they're all vacant houses and they're all in disrepair. So then Kevin starts talking to the people and they say, yeah, it's probably someone who's watching right now because this seems to be a common occurrence where people will be bored, they'll burn down a house, and then they'll watch the fire get put out, basically. Now, I'm looking at some of these houses and things, well, you know, for the owner, if they have insurance on the house, I mean, they'll be able to rebuild it. And a lot of these, I think were at the point where it would be hard to salvage. Yeah.

Probably. So they'd have to be torn down. It was actually a common problem where people would, their homes would get burned down for the insurance claim. It was a big problem because that's the only people were able to get money in some instances and people were doing that. And it became a huge scandal and it was a big thing, man. It was horrible.

So I wouldn't be surprised because the thing is like it would cost to rebuild a house like that like $250,000, maybe $300,000. But a house in the area would sell for $35. So it doesn't make, you're building a $300,000 home in an area that's worth 50, max, brand new, doesn't make sense. So what do you do? You're paying property taxes on basically an empty parcel of land that you can't do anything with, you can't sell it, you have a mortgage on it, you're going to claim bankruptcy.

So I wouldn't be surprised. Property taxes are not cheap in Detroit. What are they? Like, I bought a home in Detroit one time. I think I paid $30 for it, $30,000. And my property taxes were $3,500 a year. Wow. Yeah.

It was a lot. Because, so nobody was paying property taxes. And so if you were, especially if you were an investor, so I made it, well, I don't know if I made a mistake. I did the right thing. I registered my property as an investment, as a rental property. And everybody, everybody told me, don't do that. They're like, nobody checks, nobody cares.

I'm like, I don't like to play these games. I like to do things the right way. So I filed it as a rental property and then they jack up your taxes. Makes sense. 10%. I mean, I don't even know how much. It was a lot. But in general, property taxes in Detroit are a lot because a lot of people were not paying.

And so, I mean, it was expensive. But, you know, it was, Detroit's been through a lot of hardship. But the people of Detroit are tough, man. They are. The sense of community there was so strong unlike any other area. Detroit are hustlers. Yeah, L.A. people closed off the door. Like, I didn't really know any of my neighbors in L.A.

This is like, that's the way it is. But Detroit, like, everyone knows each other. Yeah. There's a strong sense of community. The neighbors actually hang out. They look over each other. It's pretty cool. Yeah, man, Detroit Hustles Harder.

Yeah, they do. What was it like going through the 2008 recession in Detroit? Like, what did you see in your own personal life? How things were affected? I mean, personally, like, I was young. I was in high school until 2009. So I don't really know what was going on because I wasn't even into finance until after, right? So, like, 08,09.

Like, I remember people talked about stock market crash. Whatever. I don't know what that is. I put a little bit of money into Ford because, I liked Ford Mustangs and I couldn't get one. So I was like, what's the next specs thing? Let me put a little bit of money into the Ford stock. And so that was really all that I knew.

I didn't know too much of what was going on. I remember in college, there was a big thing of people not being able to get jobs after because like the job market was horrible. So like it was not uncommon for people to go to college, graduate, and then say, I'm unemployed. Like that was just like the common thing to do. So that's what I remember And you know

Just the real estate market like I remember like I didn't know I didn't know what was normal and what was not Like to me a $30,000 home and a good area was like Normal I didn't seem like anything out of the ordinary Because that's all I saw And then when I saw homes go up to like 50 grand

I was like I don't want to buy that That's too much money That's too much money And now those homes are like you know 150 But like it's like I didn't know what was going on And you know Michigan has really come back even on the rental real estate side, man. Real estate properties are really gone up.

Not just in the 2020, 2020, 2021 era, but like after, like things have really established. Michigan businesses have really diversified. Things have really come back in Michigan. It's cool. And Detroit is sweet, man. Detroit is cool. Like, there's a lot of cool things happening in Detroit. So next time you're over there, hit me up, man.

Oh, absolutely. We'll go look at some real estate over there. It was fun. I really enjoyed my visit there. Yeah. It's cool. It's not big, but it's cool. So how many properties do you own now?

Something in the dozens. Dozens? Yeah. But a mix of single family homes, mix of multifamily. I did own a mixed use, which is a mix of commercial real estate. And then I was actually going to buy a commercial office building for the first time last year. But then I decided not to. I was going to have part of it be our office.

and then the other part would be other offices. But then, you know, just office mortgages work very differently than reasonable residential mortgages. So I couldn't get a fixed rate for longer than five years. It was a five year and then they had to re-adjust. And I was like, oh, I don't know. Like, interest rates are going to go up. I don't know what's going to happen to the office market. Like if one of these tenants leave, I don't know how long it's going to take me to find another tenant.

So that kind of just, I don't know what was, you know, the office chain market is changing. So I kind of focus on the residential side. So apartments, single families, and Detroit, so I was talking to a different guy yesterday. And the Detroit market is Michigan market in general, not just Detroit, but the Michigan market, Midwest market is different because there's strong cash flow markets where you buy a property that's say buy a home, single family home for 150 grand. That home's going to rent up for 1,500. easily. And so now you're, you're going to profit if you buy the home cash, half, maybe more than half. And so it's strong cash flow. You don't see the same appreciation that you would see in some other places like maybe Vegas or Austin. But you see strong cash flow. And so it's a very different,

like the market, the real estate investors in Michigan are very different than the real estate investors than like, you know, your hotter places in like Texas, Arizona, Vegas. Like people are, and those are looking for, how much can I sell this property for in a few years? versus in Michigan, they're saying, how much cash flow can I generate? Yeah. So it's a very different game. Wouldn't there come a time, like, kind of soon after graduating, where you'd have like five or six investment properties

and you'd be making a solid like five grand or so per month? Yeah, but, you know, do you want to stop there and retire? I mean, I'm like 22 years old. I want to live on the beach for the rest of my life. Right. I'm just saying. I wanted to do something bigger and, you know, and I enjoy entrepreneurship, right?

It's not just for money. It's really like I like entrepreneurship because, entrepreneurs are in the business of solving problems. I like the idea of solving problems. I love working with entrepreneurs. And I just love that mentality of entrepreneurship. So that's why I'm investing in entrepreneurs now. It's like something that I enjoy doing.

So for me, entrepreneurship is more than just like, you know, how much money can I make? Because it's how do I solve a problem? I mean, I love the idea of just talking business and networking and, and coming up with business ideas and trying to take a product that solves a problem to market and doing all that. So I enjoy it. And I like having the,

fun. It's like one of the things that I talk about is, uh, retirement is stupid. The traditional concept of retirement, I'm going to work a job for 45 years just so I can ultimately quit and sit on my butt for the rest of my life. It doesn't make any sense. And that's why people say, uh, those who retire early, die early. Because when you sit in your butt, when you're 65 years old and do nothing, you have no purpose, you know, you feel miserable. So I, I love entrepreneurship. And I, I work a lot, but like, I don't think I would change what I do. Like, this is what I want to do for the rest of my life because I love, you know, I love, entrepreneurship. I love working with entrepreneurs. I just enjoy it. So that's what I would do. I mean,

that's why, you know, you never stop. Yeah. So you started the channel then. So first of all, getting a, getting a law degree, how difficult was that? Not as hard as building a YouTube channel. Not taking a U-Channel. Passing the bar exam and everything. Did you go? I did. I passed the bar. I did everything. And, you know, that was tough. But, you know, the difference between starting, let's say a YouTube channel or a business, then become an attorney is becoming an attorney. It's you read a textbook, you analyze it, and then you break it down, right?

So it's like it's in a textbook. Now you got to be able to think, but it's, if you read this and you understand this, you can answer the question with business or YouTube. It doesn't work like that. Like you could try something. It might not work. Like there's no, you either do this or you don't do this.

You have to be creative. So that's what makes YouTube difficult is, you know, you have to be a lot more creative. You have to be willing to take risks. You have to be willing to try things. And if you don't have that ability to kind of try and that creative mindset, it's going to be much harder for you, especially to build on YouTube. Got it.

So when you started monetizing on YouTube in the very beginning, how much were you making back then? Oh, man. I think it took me a year and almost a month when I got my first check. Because it took me a long time before I got to get to a whole. $100 for it. Yeah, it took me a year and almost a year. So let's just say a year and a half. And my first check was $2,400, something around there. So it took me a year and a half to make $2,400 bucks. Wow. And then at what point did you start saying that you're making enough on

this to really spend time on it? Or were you just doing it for fun? It was still for fun. I was still working on other businesses. So this was just like something I was just doing. I was like, whatever. I'm making a little bit of money here because, I mean, if I was an attorney, I'd be charging two 50 an hour, you know, versus $2,500 over a year. So, I mean, I was just doing this kind of for fun. And then it was really, the sock business was doing well. I was making good money. And we were working on a lot of different deals.

But then we had a patent that was denied. And now I was like, okay. So it was a water resistant sock. How could you, can you patent? How did you make that? So, I was a good idea. How is nobody, seriously, how many times do you get your, Because getting your sock wet is probably the most annoying thing.

Exactly. That's the worst. Because then I have to switch out my socks. There's no easy way to dry it. Yeah, exactly. I've stepped like, sometimes like Bailey's water dish will kind of spill it. And I step on like a little bit. It's the most annoying thing, right?

Yeah. So I got the idea. I was taking a speech class in college. And one of the classes was you need to pitch a product to the class. I was like, that's easy. I love coming up with product ideas. I do this with my friends all the time. So I put it off.

I put it off. one day I was late to class and I picked up my backpack and I started running and it was raining and I stepped on a pothole on the way and my foot soaked got to class my feet's wet and I was like oh man like whatever

just sit down and the teacher's like Justepreet are you ready? Ready for what? She's like today's your day to present oh no I forgot so I'm standing in front of class I was like Justopry think of something think of something anything. The first thing that comes to my mind

were my wet socks So I just pitched this idea of wet socks to the class. And I was like, well, that's kind of a cool idea. Why doesn't this exist? Just like what you said. So then I thought about it. And I was like, well, this could potentially give me the scalability and all this other stuff that I was looking for.

So then I started working at it. And I started looking to learning about the sock industry. Started talking to sock manufacturers. And they had no idea about how to do that. So then I started learning about the actual textiles. So I started talking to textile engineers and cotton producers. And how do we not? introduce this type of technology.

Now, this waterproofing technology exists already, but it doesn't exist in, it didn't exist in socks. So I was like, how about we integrate this waterproof technology into socks? So I was kind of working with textile engineers, sock manufacturers, trying to put this together. And that's essentially what we did. We created a yarn that had this waterproof technology into it. And then when you put on the sock, it would repel water.

And so it was doing really good. We were working with, you know, some schools were working with a lot of athletes. We're working with a lot of different people. We actually, I was reached out to by a lot of venture capital people. And one company was trying to get us in contact with Under Armour. But they were like, you know, we need to make sure you get a secured patent before I present this. And because like my goal wasn't to be in the sock business, I wanted to license the technology. And the whole business of selling it was just proof of concept that now we can take this to bigger brands and say, hey, license this from us.

And then when the patent got denied because they're like, it's not an original enough idea because the waterproofing exists. you're just putting it into socks. When the patent got denied that and I was like, okay, what do I want to do? Do you want to be in the business of just building a brand, building a sock company, or do I want to be in the business of, you know, doing something else?

So minority mindset wasn't making any money. Sock company was making good money. But I was like, what do I do? And so I was like, let me start putting a little bit more time into minority mindset because I love like the financial education side of things. This is like fun. I could do this all day and night long, you know, socks. Yeah, I love the idea of building a business,

but how excited can you really be about socks? So I started spending more time in minority mindset and started to grow. This was probably around 1 or 200,000 subscribers. So we're making a little bit of money. I don't remember how much, but a little bit. But I was like, you know, let me try to just turn this into something else. So that's when we started adding other things to it.

Built the newsletter, built the blog, built all the things around there. And that's kind of just how we started. Isn't there a way to patent that sock idea, though? because I'm going back through like, you can't waterproof that, but couldn't you find a way to like waterproof a sock with a sole at the bottom of it that makes it not slippery and what? Like something like you put like little rubber things that aren't there easy ways around patents? You know, patents are not easy to deal with.

That's why patent attorneys cost a lot of money. But if you want to try it, man, go for it. I'll support you. That's what we have to do. Some water because I've seen, but I've also seen the flip side where Pat. I don't want to say patents are worthless, but then you have to spend money defending them. Because someone, let's say you have like the rubber soles at the bottom and that gets patented.

Some other company would be like, well, it's not rubber. It's this other material. And because it's not exactly that, then technically we could do it. They're going to change one thing. They change one thing. And then you have to sue them. And then it's like a 50-50 if you even win. Is it worth defending now?

So how much money were you making from your stock company, right? when you decided to spend more time into my normal mindset. I don't remember exactly. But it was a good amount of money. It was in the six figures. I don't remember exactly what it was. But I was making pretty solid money. Like,

and I was a really young kid. I had no expenses. Net or gross? Yeah, I was taken away. So it was good money. Yeah, that's a lot.

Even let's say 150, that's a significant amount of money to be like, I'm not going to, I don't want to sell socks. Well, he also had real estate. And like he said, yeah,

but end goal. Well, that's what I was doing, right? I was taking the money and buying real estate. That's all I was doing. I was living very small.

I wasn't spending money. All I was doing was buying real estate. I think it would be super fascinating if you could go over your income over time and how it's changed from certain sources to other sources. Well, let's see. I go back to high school. In high school, I was working in the wedding business. And when I first started, I used to charge $50 for an hour or whatever was to me.

I played drum called the toll. And, um, I would charge $50 to do that, and then I started working at Antianz pretzels. I was making $5.45 an hour because I was under 18, so they were like, well, we can pay you less, even though I was doing all the work.

The manager would sit there, take the landline phone, go talk to someone else, and I'm sitting here running the whole store making $5 and some change, but I was like whatever I learned. And then towards the, you know, when I started college, I was probably charged $200, $250,

to go work at weddings for an hour. If I worked the whole day, $600 or $600 or $200 or $0. So $250 for like $1 or $2 hours and $600 for the whole day. And what was that? Was that like video stuff? No, I played the drum. And then I used to work with DJs, so I would help them set up, I helped them tear down.

Pretty much just kind of be their assistant. Right. Just making sure everything goes smooth. So I did that. And then I was running parties. Well, the first event was a flop. I lost a lot of money on the first event But then I started to grow

Towards the end of college It's when I really started to ramp up So now we're talking, you know, a couple grand in an event And then got into wholesaling Again, kind of starting over So now, you know, a little bit of income from real estate But then you start wholesaling Wholesaling and selling real estate

So wholesaling didn't make me any money for a little while Then it started making me you're another 10,000 something a month or something like that, you know, something like that. And then from wholesaling, again, now I'm just trying to buy more real estate. And then I had, man, I got to like think about this, which businesses that I did after what because I had an Amazon company. When I was in college, I started a T-shirt company because this was like,

like pretty much my whole idea of entrepreneurship was whatever there's an opportunity, try to solve that problem. What about throughout your YouTube channel? Because when you started, you posted consistently. I think it was, what, twice a week? Yeah, I think I started twice a week, the movie three. Now we're at five. Yep.

Monday through Friday, right? Monday, Wednesday, Thursday, Friday, Sunday. So I got a little break on Tuesday and Saturday. Okay. How is your business broken down on YouTube? Because I know you have the channel. Yeah. You have the newsletter.

Right. What else is there that I'm missing? So we have the channel. Yeah. We have the newsletter like you talked about. We have two different newsletters. We have like a daily breakdown of the, the market. So every day, let's say it's Tuesday, you'll get a breakdown of what happened on Monday.

And this is like a fun, really newsletter you can read in like five minutes that will break down everything that you need to know in the market because no one wants to read Wall Street Journal, CNBC, Yahoo Finance, all that. So it's a breakdown of all that. Then we have more of an educational newsletter. So we have these two newsletters that go out. Then we have our blog. So our blog, we have like maybe a dozen or so writers right now. These are people that write content daily for our website. A dozen people. Wow. But most of them are not full-time. These are like freelancers. Our editors are full-time that are reviewing them,

but most of the writers are not full-time. But they're writing articles. So our website has content daily. And then we have, obviously, sponsorships. But then we just launched an academy. We call it Market Insiders. So it's like a weekly coaching for stocks and real estate. We plan on adding crypto zone.

And it's super affordable. That was the main thing for me is. How much do you church for that? $47 a month. How many people do you have in there? So we just started. We just finished up our beta. And when we launched it, and I think within a month and some change,

we had just over 100 users or 100 people that are in the program. But that was a brand new thing that we just started. Because we had some other education programs that we did. But I wanted to make something that was super affordable. Because those education programs were great. They were like for the business side. I mean, they were doing great. Like multiple six figures.

But like it didn't provide me kind of the goal. exactly that I was looking for because like even in business we see a lot more benefit when people have true coaching where it's like it's not just I give you a class we give you consistent like every week you get access to more information that way you have like checks and balances someone's making sure that you know you have someone to talk to and you keep getting that refresher or what's going on as opposed to you just throwing it on you and you don't need yourself so that's the whole idea behind market insiders where it's like learn how to invest in stocks from somebody who has six figures or seven figures

so we're talking hundreds of thousands if not millions of dollars in the market someone has been doing this for a long time and you can learn from them and every week you get access to coaching get access to your community we have our own Discord and you get a free class

as soon as you join and you get access to all the previous recordings and like it's like for me it's to make it a no brainer where it's like if that's still out enough try it for free you have a free 10 day trial go through the entire program

then you can see if it's right for you or not and if you hate it just quit I'm curious for the newsletter What made you want to start a newsletter? Well, we had a financial education newsletter first, where it was kind of like just providing more education, more in-depth stuff. And then I started to see more opportunity on the financial newsletter,

meaning like the market briefs. We call it our market breakdown, what we do. We started to see opportunity there because a lot of other newsletters started to kind of get some traction. So there were things like morning brew, the hustle, Phenomize. So a lot of other things. started popping up and we saw Robin Hood snacks and doing this.

We're like, we should really have one for ourselves because, you know, we're talking a lot on the financial side. You did this about a year ago, I think it was, right? This is more than a year ago. More than a year. Yeah, yeah. So this is a little while ago.

And so we started just doing this as kind of like, here's the way for you to learn about what's happening in the world without having to spend hours trying to decipher it and actually real time because let's say I'm making a video on it. It might take me a week just depending if I'm not here or whatever's going on. Don't miss out. So that was the first thing that we did. And we didn't have a way to monetize that.

because we don't really know what we're going to do. But then started to realize that sponsors wanted to monetize the newsletters. So you get the newsletter for free and then we work with sponsors to now put advertisements. How many users did you have to get in a newsletter to start getting sponsors like that? I think you can start getting sponsors at like 20,000 subscribers. Speaking with the owner of Morning Brew, this is a while ago, and it blew my mind. Just how, first of all, how lean they ran the business, but also just how small. marked they were and how strategic everything was.

So I subscribed a Morning Brew because they reached out initially and wanted to do a sponsor. And I figured, well, let me just sign up for them. I'll start reading it. And if I like it, I'll move forward to the sponsorship. I loved it. I honestly, and I opened every single email. It was good. And then I got in touch with Adam, who's the owner.

And so we started talking and I'm asking him like, and we talked for probably two hours. And like I was talking with him about the YouTube algorithm. He was telling me about the Morning Brew algorithm. And it's so genius. His open rates, he was telling me, somewhere on 50 to, it could be as low as 40, as high as 60%,

so that's higher. And to think that he, they have, you know, millions of people subscribe to them and they have 50% of people opening their email every day is wild. And I didn't realize,

well, I don't know how much I should give away on here, but anyway, his plan for, for testing out titles and figuring out what people open, it's just, it's incredible.

This old company. Yeah. Well, not, I don't believe it was the entire thing, but they sold a big chunk. I think they were validate at what, 70 million? 75 million to business insider. I don't know what their split was. I don't think it was 100.

I could be wrong. But so smart. Yeah, they did a great job. They did it right. Because they were really one of the first movers in that market to really hit the financial market and make it fun and entertaining. And so, you know, we kind of, we learned a lot from them. But then we made it a little bit different, made it their own. because the difference between something like Morning Brew and us is,

you know, we have, people have a lot of connection with me on minority mindset, right? They watch on YouTube, so they're like, oh, we know Justbreet. So now we, the big thing is, you know, we have a big community aspect as well. So, you know, we have our own community on Discord called Guac Talk. And so, you know, we have a real community in the sense where we bring people from Guak Talk onto our newsletter. We bring stuff from our YouTube onto our newsletter. So not only is it the market breakdown, but you also have like a breakdown of what's happening within the minority mindset community.

Yeah. So it's a little bit different in that sense where, yeah, you have the financial breakdown, but you also have the community breakdown. Would you ever sell it? We have no thoughts or plans to sell it right now. Our goal is really just build a bigger community. It's different, right? Because minority mindset is a much more personalized brand.

Yep. And so, you know, we don't have any intention to do that. Got it. Can you share how much the newsletter is making? It's the ballpark. Well, I'll tell you this. Our break-even, in order for us to break even on the newsletter right now, it was right on $8,000. That's kind of our cost.

A month. A month. Okay. Or just a little bit more than $8,000. And we hit break-even in, I think the first time we hit it was either late 2020 or early 2021. Wow. You ran this for a while without breaking even.

Well, because, you know, it was just, it was an investment, right? It's like, what do I do with the ad revenue? I can either just go buy, you know, a house. I can go buy a house. a car. I can go by a Ford GT or I can reinvest it back into the brand. So we were putting it back into the minority mindset. And now we're, I mean, we're probably a couple times that, at least.

Where are you investing now? Where does your money go today? Well, I'm investing my money in five places. Real estate, stocks, businesses, cryptocurrency, and then physical commodities like gold, physical gold. You buy gold. Physical gold. How old are you? I'm 30.

30. I'm 30. You're the youngest gold investor. I think I've ever met before. Gold is insurance, man. For me, it's not like, I'm not getting a yield on my gold. I'm not getting a return on it. It's just real money.

And the way I look at it is a store of value. I mean, it takes time, effort, and labor to mine gold. And it just sits there and look backs at me. It's not doing anything. But I keep it as insurance. If it case everything else goes wrong in the world, I got gold. What about treasuries?

Well, that's why I own gold. You'd rather, you'd rather go. I'd rather own gold than the treasury. Well, why do I own gold? Because I'm worried about inflation. If we ever see hyperinflation, well, now what happens to treasuries. They're worthless. I mean, gold really hasn't done that much.

Yeah, and I don't care what happens to go. I don't care if it goes up or down. It's just real money, right? It's just like, would I rather save dollars in the bank or under my bed or would I rather keep gold under my mattress, right? I rather hold some physical gold. What's that in relation? to the total portfolio?

It's small. I'll say maybe like, I don't even think it's 10% right now, but it's pretty small. That's a lot. Yeah. Even it's, I think it's less,

it's less than 10, but it's the smallest portion, but that's just kind of like insurance. I put a little bit of money to gold. I have like a passive thing where every month I have a little bit of money buying physical gold. And they just send you gold or do they hold it themselves?

So yeah, they hold it in a vault. They say, every month. It's delivered faster you than your dollar prints money. Yeah, no, it just kind of accumulates, in a vault and then when you have enough to buy a whole bar,

and then they can either ship it out to you or you can keep it in a vault. Oh, I see. So you're buying it through them. They store it for you. Yeah. But you just, it'll upgrade so then you get a bar at some point. Yeah, I mean, I have physical gold, but yeah, it's just, it's in vaults. I don't keep it under my mattress, but that'll be a little tough on my head.

But yeah, that's what I do with that. And what about crypto? What are you, what are you buying crypto? So I buy a passively buying Bitcoin, Ethereum, some of the other coins, but that's pretty, much it. I think it's like five coins that I'm passively buying. And then, you know, when prices go down, I'll buy more. I think crypto is the future. It's the people's movement of money. But I don't think it's going to go straight up. I think we're going to see ups and downs. It's very volatile. And so, you know, is there a lot of crap in crypto? Yeah, I think there's crap and crypto. I think

there's a lot of bad coins. I think there's a lot of opportunity in future in crypto. And what percentage of your portfolio is that? Just about to ask that. Great question. See, these percentages are a tough question because I don't really make a lot of chart of my investments but um you could just approximate yeah i mean i so i'll tell you like every month so i have a passive investment i talk about i do stocks and do crypto my passive stocks and crypto is the same every month and then um but what i also do is i have a big chunk of my money in stable coins that are earning interest because like this is like the cash that's like waiting to be invested interesting yeah and so what i did was i just moved it because my bank has spent me you know

zero point zero one percent and then i also had a high interest savings account that I think that was paying me like, I don't know, half a percent. Like, again, nothing, right? But then I was like, well, what do I do with the cash that I'm waiting to invest? Like, I'm looking for opportunities to invest. And so this is the cash that I then used to now buy stable coins, which are now paying me, I don't know, seven, eight, nine percent. I'm insane.

I would be tempted just to put like a million dollars in stable coins. Yeah. And just why invest it, though, at that one? Because it's like, exactly. The biggest risk for me is that like something like tether. Something might happen. Well, don't do Tether. But there are, so what stable coin is your?

Well, I mean, okay, if you want to tell that, it's fine. I do a few just because, exactly. Tether has gone through the issues of regulatory issues, you know, do they actually have enough dollars to the relative to the number of stable coins? So that's the first concern. I use the Gemini coin, the USDA, and I have, I think, one or two others, Paxos and all that. But so for me, yeah, it's kind of like diversification within the stable coins in that sense. Because yeah, you're right.

Something could go wrong. And so with the stable coin. But then you have the issue of the counterparty risk. If like, you know, the institution you're keeping your stable coins at, if they go down or if people don't, you know, let's say you see a massive crash and people don't pay the stable coins back. Well, they're not FDIC insured. So, you know, you have the higher risk. And that's what you know, you said a million dollars. That's good.

Don't put more than a million because a lot of accounts. they do a million dollar limit that you can withdraw on a week. So it's like, okay, I know. I ain't put it more than a million in there. I am just so terrified that like 7% sounds insane to me. Yeah, it sounds really high. And I'm worried that there's just not enough regulation to ensure that they're actually putting that money to good use. Yeah.

And if something happens on that, it's gone. It's like. Yeah, it's how long are you going to keep the money in there too, right? I mean, for me, I don't plan to keep in this there for 10 years. No, but it's 10. Listen, if I'm getting 8% of my money, I'm leaving it there. I mean, I'll leave enough there where it's like, that's my safety fund no matter what. Yeah.

It's like in the back of my mind, it's taught, yeah. You can also look at like the previous, I always like kind of look at the historical, like, how long has this thing been here? And like a lot of the stable coins, if you remember the 2017, 18 Bitcoin bubble crash, like tether, that went from a dollar to 93 cents. So it dropped by like 7, 8%, which you don't want to see that happen, but relative to the grand scheme of, of like what happened in the crypto market, it wasn't that bad. Now, I was like, okay, if let's assume that this can continue, then what's the next risk?

It's, are these accounts going to be around? Because that's the next concern is, right? These new institutions which allow you to earn interest, they haven't been around long enough to see a major downturn. So it's like, who are they lending their money out to? Because some people are lending their money out to retail investors and they're going to pay you a higher return. And others are going to rent it out

to institutional investors. So big corporations, accredited, accredited, you know, institutions. So it's like, okay,

I'm okay not getting an 11% because I want to get some seven, eight because I, you know, I want to know who they're actually lending the money out to. So is the risk? Absolutely,

man. It's risky. I mean, the things could go down, but it's like, you know, you want to put in that money where I don't plan on

keeping it there forever. But I also, I understand that, hey, this is better than the savings account, right? I don't just want to save my money. I want to buy investments, but it's this money waiting to be invested.

This is earning me something. So usually we ask every guest. You don't have to answer this if you don't want to, but you want to know how much money you make. Well, I don't even know how much money I make. But it's in the millions. I don't know exactly. Okay.

Because I don't spend my money. I don't I don't live off with the money that I make I invest it and then I don't live very big But like if we have a ballpark We're like gonna say you know It's millions could be Well let me be like two million bucks The first time after after expense

Yeah yeah no okay so the first time I made a million dollars Yeah I think I took home 20,000 Oh because it was you're running this with the business It was reinvesting right Right into real estate as well Yeah so I mean it's like Oh yeah I see what your point

Yeah well Reinvesting Well I don't think it can counts if it's reinvested into it. Because I could say that like, you know, if you make five. So I invested $4.9. The question is, a bad question is how much money I'm a living off of? And I would say I'm living off of less than $150,000 a year.

Okay. How much was that nice suit? Looks really nice. This was a gift, actually. My wife gave me this. Oh. Her family of this. And that's right, too.

You got married. I got married early. Congratulations. Yeah. We don't see a ring. So that was something you're in Vegas and not wearing a ring. Well, my wife is with me. I'm here with my wife in Vegas.

She didn't want to come? She was busy doing some other stuff. But, yeah, you know, I actually, I wore the wedding ring. I couldn't sleep. It was so weird having a ring on. And, like, for real, I couldn't sleep on it. And for me, it's like, it's also kind of goes into a cultural thing for me. It's like, I, we have this, we have a couple of things like culturally versus religiously.

We're like, religiously, it's like you don't need to have a physical representation. to show your love for someone and for me culturally it's I mean in that sense it's like you know I love my wife more than anything you know and and I don't need a ring to show her that and she believes me she knows that and uh honestly I really don't care if I wear one or not it doesn't really matter it just was so uncomfortable to me I like couldn't even sleep I was like it was just feeling weird that's the thing for me like I I've never worn a ring and just the idea of ever like having the ring where a watch I like yeah a watch is different but like like like a ring. I don't know. Yeah, when I get married, I don't think I'm going to wear a ring. And Kelsey

doesn't even wear around her engagement ring. So now, I'm curious. Oh, wait, we'll get to that and say, as a finance guy, did you decide to do a pre-up? If you, if you feel comfortable talking about it, if not we can glance over it. Okay. I did not get a pre-mup. I'm a pre-up. I'm an attorney, and I'm a finance guy. Now, every attorney is going to say, why did you not do that? Yeah. Well, I'll put it this way. My wife has put up with all my crap. She put up with, you know, me working my butt off. And, you know, let's just talk worst case scenario, which obviously we hope nothing ever goes on there. We'll talk worst case scenario. She deserves half for everything that she's done. Every financial person, every attorney is going to say, oh, you're stupid. You don't know what the hell. You know, fine. It doesn't matter. And for me, it's, you know, I, you know, it's weird because, like, you know, we talk about all this stuff. I come from a unique cultural background where, like, you know, you know, we don't really talk about money. That's why I don't really talk about my personal finances much because I don't, I don't like showing it.

It's just not the way I am, right? It's not my culture. It's not who I am. And even like with that, it's like, you know, I, one of the things I hate doing is I hate arguing or money. To me, that's like, it's bad to your core. And so I don't like arguing over money. I don't like fighting over money.

I like educating about money so you can be free, so you can build wealth. but I hate the idea of like that of tensions over money I like doing things honestly doing things ethically because like in my religion right I'll just talk about that because it is a big part of who I am there's three core components nam Jepo one shako Kirtkōrārār means remember God one shako means serve others before you serve yourself Kirtkuro means earn an honest living and so these things are all very important to me and that's kind of the way that I live which is why I don't like to I don't talk about you know how much money I make.

I know it is going to seem weird. I wish you did because it's really interesting for me to hear a different side of you talking about this because I think it's, not only is it very important for you, but I think also your, especially your longtime viewers would be so curious. Yeah. And it just, it opens up another door that helps build that familiarity and that connection with you. Absolutely.

And, you know, we talk about some of the things that we do in our business, but, you know, it's like I come from a different background. Yeah. And I have a different personality. And so, you know, that's just the way I'm. You know, I don't, we never talk about that type of stuff and said, you know, you can, you can see some of the things that I'm doing. I'll talk about what I do with my money.

I talk about how invested that way you can, you know, do that. But I don't like the idea of attracting somebody by showing money. You know what I mean? I don't try to attract people. I say, hey, look, I got this money. Come fault. Watch me. I don't do that.

Yeah. It's not me. And so, like, you talk about with a pre-in-up, good question. You know, if I was advising somebody as an attorney, I would advise people to get the pre-up, right? Legally, it makes sense. Financially, it makes sense. Now, personally, for me, culturally, no, for me personally, it does not. And so, you know, I like to be honest with everything that I do in that sense. I'll tell you, hey, look, this might be better for some people, this is what I do. And I'll say, I'll say what I do. Yeah. I have no problem being honest. I have no problem

being completely transparent in that, but it's just the way that I present myself. I do that very differently just because of where I come from. I respect that a lot. That's a great answer, An incredible answer, actually. Not only have you not answered, you've answered every single question that we've asked you, but you've answered it in such a great way. Let me expand upon that. You know, one of the things that this actually irritated me before. Yeah.

Because I used to, when I was trying to get media coverage, I would pitch these ideas. And then the question that everyone would say is, sure, but instead of that idea that you have, how about we talk about how much money you're making? And I turned down every single one, every single time. Because every single headline, I mean, you can name any media. It works. It does. That's the thing.

You're right. You're 100% right. It does work. You name the media outlet. You can name it. Every single one to set it. Let's do an article about how much money you're making as a YouTuber. Yep.

I've said no. Every single time. Every single time. Why? Free PR. But it's culturally? It's not me, man. It's not me.

And that's the thing is I don't need it. I don't need to do that. And I think that's one of the reasons people like me because they know that I'm authentic. Everything that I say I'm very genuine and very honest and everything I say is from my heart, right? I speak with passion. And so even with that, right, like I rejected every single one because I don't want to talk about it. I don't talk like that. That's not who I am.

Except on the iced coffee. I appreciate it. How about this? We're going to be finishing up here. Ask us questions. What questions do you have for us? It's a final segment here. I also have one final question.

Jack Jack is a final question. What is it about you? Two questions. Sorry. What is it about you? You said one. I'm just kidding. Two questions.

What is it about you that you've used in all of these different business ventures that really like makes you successful with all? Like what is it is it your character? Is it something about you? I think one. Well, one working hard. I would say I work really hard. And second, I think it's just creativity. Like one of our core values at the minority mindset is crazy as good.

And by that meaning trying new things. trying something crazy and willing to try things that the majority people won't. I think that that's worked well for us. All right. And then what's the bracelet? So this, again, is another religious bracelet. It's called a carda. So this, every sick wears it, one to identify their six.

But it's a, you put it on your dominant hand as a reminder to do good. So before I do something bad, you know, if you do it with my dominant hand, it's supposed to remind me. Wow. Wow. Yeah. What watches that? This one is Shinola, a Detroit brand. So, rep in the city.

That's cool. Nice. Give us some questions. If you have any. Yeah, let's do it. What's the future? What's the future of Graham Stephan? I don't know.

I have no clue. I look up to Dave Ramsey, Dr. Phil, Judge Judy, Joe Rogan. So those people, I look, I really like their careers. Judge Judy, I would say, and Dave Ramsey, you're probably my favorites, just because they've had good longevity, family friendly, everyone can watch them, I like them.

So I have no idea. So the next step for me is having Alex edit the main channel videos. So I can't think of anything else. I literally, my, my, when is enough?

What do you mean? When's enough? Like, when are you like? It's never, I love it. No, no,

no, I like that answer. No, no, I have so much fun. Like, like, like I've been trying to get ahead.

So I've taken the first vacation in, like five years, like real vacation. I think it's for four days. and I've been trying to work ahead, like to get ahead, so that those four days I have everything already done. And I'm in the zone. Like, I love it.

Like, it's hard for me to scale back from that, and I'm excited now about being able to get more done over these next few. It's weird. So I like it. I dig it. Yeah, I dig it. What's the most you ever spent on clothes? On clothes.

Jack bought me the most expensive pair of shoes I ever have. Jack got me a gift. There was a store that we went to in us to Family vlog, which is like our blog channel. And there were a pair of shoes that Graham really liked. They were like absurdly expensive though. Like like $600, I think they were. And Graham could not justify spending the money.

And I remember like I saw him and I like, sometimes I pushed Graham because if he sees something that he really wants, I'm like dude, just go ahead and do it. Like I know it's off brand. I know it makes you feel uncomfortable. But like if you really want something, you're at the point where like you've worked so hard, you deserve it, right?

Or you've earned it. And he didn't want to. But it definitely, I was like, dang like, I wish that he got those shoes. And I still thought about it. And then months later, like as I thank you for letting me stay at his place because I just got my own place,

I got him the pair shoes. It's his most expensive. But he has expensive watches that he buys. Yeah, the watches. Those are investments. No, no. So actually, to answer your question, the most expensive piece of clothing I got was,

it was like a $1,200 suit that I then spent, I think, another $400 tailoring it. So it was all in $1,600 on a suit that I wore when I was a real estate agent. Do you have any, advice for us. What can we be doing better? Oh, I wanted to ask you how much you work. Oh, man, okay. I wanted to ask you that. I used to work a lot now. I mean, I still work a lot. So now that I'm married,

what I've done is I have taken chilled out a little bit. I am taking some more time off on weekends. So actually a lot of times the last few weekends, I haven't even worked that much. I mean, I'm still doing like emails and all the other stuff on, but like not really going into the office. And then Monday through Friday now, I'm working probably 8 a.m. until 7 p.m. Something like that. But, you know, a lot of times that I'm not working, I am, you know, I'm talking about work. So, like, I'm thinking about work a lot.

Like, that never goes away. If we're talking about it's actual time in the office, you know, that's kind of what it is. But, you know, a lot of things that I do, I'm thinking about it. Like, I like to go on a morning walk in the mornings, an hour and a half in the mornings. It's like a five-mile walk. Yeah, I love doing this before the sun comes up. So, like, I do, like, a little bit of meditation in the beginning. Then I listen to audiobooks.

And so it's like, just learning, right? I'm always learning, always listening, always kind of doing all that absorbing content. But that's kind of the way that I do it. Love it. Thank you so much for coming on. I appreciate that. That we're able to do this. Finally, after years.

I know years, literally. So, thank you, I really appreciate that. Thank you. Nice meeting you. Thank you. That was great. Thank you. Get your free stock down below in the description.

Senator Republic. Oh, wow. All right.