The Void #12 – Private mortgage lending and other financial advice with Jeremy Mercado

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[Music]

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hey everybody and welcome to the void a

00:06

show dedicated to filling the void

00:07

between being an employee and becoming

00:09

self-employed

00:11

most people refer to starting your own

00:12

company as taking the leap as if they’re

00:14

blindly jumping off a cliff and into the

00:16

unknown this show is here to help you

00:18

understand that it doesn’t have to be

00:20

that way

00:21

as always if you like what you’re

00:23

hearing on the show please do us a favor

00:25

and help share the void with somebody

00:27

else who might also be wanting to start

00:29

their own company david and i saw an

00:32

opportunity to help others understand

00:33

that self-employment is well within your

00:36

reach and just as our businesses have

00:38

grown organically and by word of mouth

00:41

we want this show to grow the same way

00:43

and for that to happen it takes two

00:45

things we have to give you guys some

00:47

really great content and you guys have

00:50

to help share our valuable message with

00:53

others

00:54

i’m your host mitch smedley and with me

00:56

as always is david hilton mitch what’s

00:58

up buddy what’s going on dude

00:59

where’s marcus is he here or is he

01:01

sleeping in the back oh he’s here

01:03

is he often hurt going guys never see

01:06

how’s it going that’s good yeah the

01:08

elusive marcus i like these guest

01:10

episodes yeah they’re getting fun the

01:12

first one

01:13

it was pretty good a little rough

01:15

well because we didn’t first guess

01:17

episode right because we didn’t know

01:18

what we were doing right right you know

01:20

so

01:21

they get better every time but tyler was

01:22

great yeah now we’ve got mr jeremy

01:25

mercado we do we do the home loan

01:29

advisor

01:30

yeah connoisseur i guess is that is that

01:33

how you would say it or

01:34

no

01:35

i mean that’s pretty humble yeah

01:37

it’s pretty humble the home alone expert

01:40

extraordinaire baby expert

01:41

extraordinaire i like that a lot

01:43

that’s really good i really like it so

01:45

we’re going to we’re going to dive into

01:47

a little bit of what mr mercado does

01:49

here in a few minutes

01:51

uh j-dog that’s right

01:55

43 seconds and we’ve already got a

01:57

nickname for him

01:59

he’s got a great personality so it’s

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j-dog j-dog that’s what we’re calling

02:02

him from now on i mean not to get mitch

02:05

off topic of what he was talking about

02:06

but i like to do that like challenge him

02:08

always off make him think about

02:09

something right so so you just call me j

02:11

doug through j donkey dog

02:14

mr mercado yeah

02:16

okay so um uh as as we’re going through

02:19

with uh with jeremy on on

02:21

everything that he does and all the

02:23

challenges that he’s faced and

02:24

everything else we’re going to be tying

02:25

those back to

02:27

our six core adversities that you’re

02:30

going to need to be overcoming if you’re

02:32

planning on starting your own venture so

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i’m gonna go through those real quick um

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number one is personal finance

02:38

preparation making sure your personal

02:40

finances are in check before you step

02:43

off onto your own

02:44

number two is business finance

02:46

preparation and that’s going to cover uh

02:49

finances for the business how you’re

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going to come up with the money and kind

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of the budgets that you’re going to work

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from

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number three is systems preparation and

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this actually there’s three episodes

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that it takes to cover systems

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preparation so these are all the rules

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and the systems that your business is

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going to work from and work within it’s

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kind of the kind of your playbook so to

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speak

03:10

number four is community involvement

03:13

work

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and we capture all of our community

03:15

involvement work by sharing it on social

03:17

media using the hashtag

03:19

findtheneed fill the void so uh

03:22

community involvement work is a great

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piece to make your business explode

03:27

while helping your community at the

03:29

exact same time so

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um that is episode seven if you want to

03:32

check out that one uh step number five

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is wake up do work and repeat or as all

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the young kids call it nowadays hustle

03:41

and grind

03:42

uh i hate those words

03:44

hustle

03:49

do work and repeat

03:51

and then finally the sixth step or sixth

03:53

adversity that you’re going to need to

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overcome is you’re going to need to

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learn how to evaluate your performance

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make adjustments and then improve on

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that performance and that is covered in

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episode nine so

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um if you’re just now tuning in if you

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go back and listen through episodes one

04:09

through nine that’ll get you covered on

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all of the six core adversities that

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you’re going to need to overcome and

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then you can just jump right back into

04:16

this show at any time so

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um

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now that you kind of understand the

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framework of the show let’s dive in a

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little bit and learn a little bit about

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jeremy marcato so jeremy tell us a

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little bit about who you are and what

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you do

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well my name is jeremy mercado aka j-dog

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that’s right j-dog

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um i am a residential loan officer for

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mortgages okay so

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i don’t know how far you want me to dive

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into it but

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i don’t know if that’s uh pretty

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self-explanatory

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in summary i mean if you are looking to

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buy a house

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uh i’m the ty i’m the person that you’re

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gonna be talking to right actually

04:55

before a real estate agent believe it or

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not right right so people oh really yeah

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so people think

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you know when you’re trying to buy a

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house oh i gotta i gotta contact the

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realtor right well would you take a girl

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out

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not knowing how much money do you have

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in your bank account

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right you know would you say oh hey girl

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let’s go to capital grill knowing damn

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well you have five dollars a year ago

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[Laughter]

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so why would you go shopping yeah right

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so why would you go shopping for a house

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and you’re like dang yeah i don’t know

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what i can buy i have two cents yeah you

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know so you talk to me and

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believe it or not i mean a lot of people

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actually don’t understand the home

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buying process and so i kind of act as

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an advisor as well right and

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also i mean

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this is also my previous role in the

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past but

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um i actually make a larger impact i

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think on people’s personal finances

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because we talk about credit we talk

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about setting aside reserves

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before buying a house because if things

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break you know call mitch for your

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plumbing needs but

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right

05:55

selfless plug

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or someone cheaper we are shameless

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that’s right

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um

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but yeah i mean

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people have

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credit that needs to be worked on or

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save some down payment stuff like that

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and right financial advisors usually

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don’t talk to

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clients that have less than 100 grand so

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we’re kind of a

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kind of an in between in between yeah

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right like financial advisor slash not

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real estate agent but real estate agent

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slash mortgage advisor slash

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whatever you’ve got to do to make that

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sale right that’s right that’s right now

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now what you do is is kind of a little

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different though because you’re not us

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you’re not a standalone business

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necessarily like you’re not an llc you

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still get a you still get a w-2

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so you’re kind of like hybrid

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self-employed but yet

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employed

06:46

in a sense yeah yeah kind of like jay-z

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right

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break

06:50

can you break can you break that down

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like in a

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like a layman’s terms if you you know

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you’re not but you are so yeah

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you’re you’re basically self-employed

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within the framework or the shelter of a

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bigger entity

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basically is how that’s kind of working

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right so

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you have all of the risks and challenges

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as a self-employed person but you do get

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a little bit of the security of the

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bigger entity

07:15

to an extent yes so especially in in any

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job involving real money you know you’re

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dealing with people’s largest

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uh personal asset right you’re buying a

07:24

house i mean a house you’re not going to

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buy anything for you know five grand

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right so whenever you are encountering

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people’s finances i mean there’s gonna

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be a lot of red tape so

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in order for you to avoid having to do

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that

07:38

and never starting your own mortgage

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company you’re gonna work under

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a mortgage bank right um

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and so that way you don’t have to apply

07:47

for your own licensing it’s like hey

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look

07:50

um

07:51

let us be

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able to

07:54

do va loans i mean there’s a lot of red

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tape doing that you can tell together

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there’s a lot

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yeah a lot of friends of mine va loans

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right and there’s a lot of paperwork

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there’s actually banks out there that

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don’t do like fha loans or va loans

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because there’s so much requirement and

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there’s so much capital required

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um especially for a mortgage bank right

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so

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there’s a lot of this term within the

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mortgage industry was like hey are you

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going to sell my loan

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well

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what people don’t understand that are

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buying a house is

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when they buy a home the bank usually

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lend their own money and if they don’t

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sell that loan they’re out of that 400

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grand or what however much that house is

08:32

yeah well what if you only have 10

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million dollars yep you’re telling me

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you’re only gonna loan two you can only

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loan to 20 houses yeah exactly

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eventually you have to sell to keep the

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doors open exactly yeah and so that way

08:43

you’re also like mitigating the risk

08:45

you know as for me if i were to try to

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do that i don’t have 10 million dollars

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no i don’t know about you and that’s

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and people are probably like

08:54

you know when i first when mitch said

08:56

hey jeremy’s coming on the show he’s

08:57

this and this and that’s what i thought

08:58

of i thought oh he’s some big wig that’s

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you know right he has all this money

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he’s doing all this stuff you know

09:06

he is really cool i will say i mean i

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like him a lot um and i’ve only known

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him for maybe an hour now he’s you know

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seems real down to earth um so when

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someone asks me i will probably be

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giving out your information

09:18

thank you but you know that’s what i

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thought and people don’t realize

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necessarily when you start a small

09:24

business or have a small business there

09:26

are other guys like jeremy yeah that

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even though it seems like it’s this big

09:31

business entity no

09:33

right sometimes it is a small business

09:35

sometimes it is a guy

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when

09:38

just because he doesn’t own the bank

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doesn’t mean he’s not he’s still putting

09:42

his ass out there on the line right for

09:44

sure you know what i mean just like

09:45

everybody else is right so in and i

09:47

always like to encourage people and this

09:50

is all new to me i did not realize any

09:52

of this i read his questionnaire that

09:54

that he filled out before and i was like

09:55

oh [ __ ] you know you know and i learned

09:57

all this stuff and that’s why we’re

09:58

having him on the show right um

10:01

that’s why i encourage people to use

10:03

small business and this is just another

10:05

asset you get a lot better customer

10:07

service from it damn right you do yeah

10:09

yeah so and that’s what’s

10:13

to put it into kind of a comparison it’s

10:15

similar to like

10:17

uh somebody who’s a real estate agent

10:19

who they’re they’re an agent however

10:22

they’re working under a large

10:24

agency say brokerage yeah they’re remax

10:27

or something like that they’re not a

10:28

broker they’re pinned on someone else

10:30

yeah yeah so like re max is handling the

10:32

red tape and putting their overlying

10:34

process on it but here they are kind of

10:36

their hybrid self-employed although uh

10:40

real estate agents are yeah they’re a

10:42

1099 employee so they are selling true

10:45

full-on self-employed but it’s it’s very

10:47

similar only

10:48

in your case

10:50

you’re just getting a w-2 but it’s still

10:52

very very much like self-employed and

10:54

there’s two sides to it too i mean you

10:56

made a good point about like oh who’s

10:58

this guy is this going to be a big wig

11:00

um there are loan officers out there

11:02

that run on a p l model right

11:05

so probably see that do you see the the

11:07

question on my face

11:09

so yeah there are some loan officers

11:11

that operate in that sense so what

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happens is

11:14

yes they’re working under a company but

11:18

they get paid a higher percentage but

11:20

everything comes out of your own pocket

11:21

right wow so you’re like oh dang if i

11:24

don’t sell any loans i have loan

11:26

processors i have assistant i have the

11:29

lease to this place that i’m renting

11:30

like literally everything comes out of

11:32

your pockets so there’s two sides to it

11:34

um

11:35

you could be an employee you could be i

11:37

mean you’re still going to be a w-2 in

11:38

that sense but you’re also running a p l

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yeah and funny enough um for your

11:45

audience i think people

11:48

tend to go into business for the wrong

11:50

reasons absolutely they do right and so

11:54

it’s funny because i’m a w-2 but there

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are literally

11:58

w-2 employees that are loan officers

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yeah that are making millions of dollars

12:03

yeah absolutely yeah and there’s really

12:05

no cap so this is the beautiful thing

12:07

about it like you’re an employee you’re

12:08

working under the safety net

12:11

of a large company but there’s no limit

12:14

to how much money you can make right

12:16

yeah that’s that’s an industry where you

12:17

can go the hybrid model and still see

12:19

the successes of being self-employed

12:21

while having

12:22

the i don’t want to say security because

12:25

i mean if you don’t perform you don’t

12:26

eat so don’t get fired right yeah right

12:28

so there’s no there’s it’s not

12:29

necessarily securities of w-2’s it’s

12:32

just again handling a lot of the rest

12:34

he’s not in a union that’s like hey okay

12:36

well let’s watch no yeah you no you see

12:39

ya you’re out the door which is the same

12:42

as operating your own small business

12:43

right you don’t cut it see

12:46

you’re you know you’re out yeah yeah i

12:47

mean well the other the other thing too

12:49

is you know when you’re starting a small

12:50

business or any business you’re gonna

12:52

file you know your different paperwork

12:54

and stuff like that

12:55

what most people don’t understand is

12:57

before 2008 you can anybody can actually

13:01

originate loans you could be a hamburger

13:03

flipper and then next week you can be

13:05

originating

13:06

and then the whole that’s part of what

13:07

led to the crash yep the whole meltdown

13:09

happened and they’re like because

13:11

everyone was making loans oh exactly and

13:13

no one could cover them and people are

13:14

buying houses too like yeah you can have

13:16

six houses yeah and you’re paying only

13:18

interest on your mortgage

13:20

so fannie mae’s working at mcdonald’s

13:23

yeah no [ __ ] or freddy’s burgers right

13:27

that’s right wow

13:29

wow

13:30

it’s an educational show too oh yeah for

13:32

sure yeah so what are what are some of

13:34

the challenges that you faced because

13:36

you you recently made a change into this

13:39

so

13:40

what are some of the challenges that you

13:42

faced when you had to come with a

13:44

decision of like i’m going to go this

13:45

direction where i’m going to go into

13:47

this kind of more hybrid plan

13:49

instead of just being a mortgage broker

13:51

for some big

13:52

you know national mortgage company

13:55

what were some of the the challenges

13:56

that you faced or struggles that you

13:58

faced having to go into that direction

14:00

i will say so let me give you a

14:01

background of what’s happened in the

14:03

last couple of years yeah so before i

14:05

landed at the company that i’m currently

14:07

with i was with a company that also a

14:11

mortgage bank

14:12

that was like a call center type

14:15

situation oh okay and you were getting

14:17

fed leads and so i think if i were to

14:20

still be there i don’t think i would be

14:22

invited to this show

14:24

right because it literally is

14:26

yeah you’re w2 yeah you’re getting fed

14:28

leads you’re just a real employee

14:30

you’re picking up your phone right and

14:32

you’re typing up on a computer right and

14:34

you go home

14:35

or you clock out for lunch clock back in

14:38

and you don’t really like screw around

14:40

within that guidelines you come in at

14:42

eight o’clock you leave at six yep it’s

14:45

like working for a big bank yep but now

14:46

it’s like so before the show started

14:49

jeremy was on the phone with a customer

14:50

yeah right we talked about maybe

14:52

bringing this up later but when we i’m

14:54

bringing it up anyway and he was like

14:55

hey i’m gonna work on your loan i’m

14:58

doing this podcast with some guys i just

15:00

met i don’t know if it’s gonna work out

15:01

or be super shitty or what’s gonna

15:02

happen

15:04

but i’m gonna i’m gonna do the show and

15:06

then i’m

15:07

when i get home and right now it is

15:09

7 40. when did i make it yeah maybe 6

15:13

40. i don’t know what time it was but so

15:16

you know

15:17

i just want to bring that up because

15:19

he’s working on his own yeah he’s for

15:20

his own business if he was working for

15:22

somebody else he wouldn’t be doing that

15:23

he’d done clocked out and left it for

15:24

the next year and he would yeah and he

15:26

would just be you know regular guy but

15:28

no

15:29

he’s working on it after this right you

15:31

know not here we’re gonna kick his ass

15:33

out and then he’s gonna go home and do

15:34

it that is what happened that’s what

15:36

happened with my previous work um i did

15:38

not have access to

15:39

my files

15:41

and i couldn’t after hours after hours

15:43

so if i had a client that needed to

15:46

submit an offer on the weekends

15:48

i actually i think it was fourth of july

15:50

i went into the office at seven or eight

15:52

o’clock at night really a little bit

15:54

tipsy

15:55

i got a couple of uh fourth of july

15:57

before it’s yeah it’s the fourth of july

15:59

no one’s just you say tipsy i say

16:00

loosened up loosened up lubricated and i

16:03

had to drive all the way to work

16:05

yeah yeah i’m like wow this sucks i got

16:07

to make a change so yeah

16:08

there’s a give and take right there’s

16:10

the risk with everything yeah yeah yeah

16:13

i like it i like it a lot what was what

16:15

did you find as one of the easier

16:17

aspects of making that transition um

16:20

when you were when you were

16:22

making the switch to kind of being more

16:24

on the hybrid plan or more self-employed

16:26

like what

16:27

what struck you

16:28

what was easier that you did not expect

16:30

i guess is what i’m saying

16:32

well my background is in financial

16:33

planning so i was in it for about two

16:35

and a half years and so when i was

16:37

already when i was financial planning i

16:38

was actively networking in the community

16:40

so people know jeremy mercado j-dog

16:44

j-dog yeah he’s going to get new

16:45

business cards after this oh for sure

16:48

it’s going to have like chain on it and

16:49

everything

16:51

but that’s the thing is people already

16:53

knew me when i was in financial planning

16:54

i was doing you know life insurance

16:56

sales retirement planning with my

16:58

partner

16:59

and

17:00

people already knew me which made it

17:02

easier to start going out there and get

17:04

my name out again

17:06

because in the last you know in the last

17:08

year that i was with the previous

17:10

company i was not allowed to go out

17:12

there and prospect myself oh right yeah

17:14

i was banned

17:16

because i would just disappear in the

17:17

middle of the day yeah you couldn’t be a

17:18

hunter of work you just had to take

17:20

whatever they gave you which is funny

17:21

because i would totally be making my old

17:24

boss so much money right how do you let

17:26

me just go out there and we and we’ve

17:28

talked about that and it’s in like five

17:30

episodes about just

17:32

he wanted to be a leader at his company

17:34

and his leadership yeah that was a

17:36

management driven company that was not a

17:38

leadership driven yeah the management

17:39

just wouldn’t let him do it if they

17:41

would have

17:42

he could have stayed there and and

17:44

probably been making them jack been

17:45

making him jack oh yeah guess what they

17:48

were micromanaging him so much he was

17:51

like see ya yeah yeah you know what

17:53

happened see ya it’s yet another example

17:55

of a giant corporate company using

17:58

policy to reduce the experience for both

18:01

the employee and the customer yeah yep

18:03

so it just doesn’t work out yeah

18:05

um

18:06

um so

18:08

so now that you’re into this

18:10

what are the biggest challenges that you

18:12

have now that you didn’t have before

18:15

i have a question go ahead

18:17

oh hold on we got to introduce him here

18:19

what’s going on we’ve got a surprise

18:22

producer

18:24

okay my uh my 10 year old son grant oh

18:27

[ __ ] has decided to finally get up the

18:29

courage no pressure better be a good

18:30

question on the microphone how do i buy

18:32

a house

18:34

how do i dump my parents and take their

18:36

house that’s right what do you do if you

18:38

make a huge mistake on something like

18:40

what do you do to fix it

18:43

well it depends as a loan officer

18:45

oh you own up it you know you own up to

18:47

it yeah you just have to call the

18:49

customer and be like hey oh yeah for

18:50

sure this is look i made a mistake

18:54

we’ve got to move on what’s the process

18:57

there you know it’s very scary actually

18:58

if you make a mistake because you’re

18:59

really like you could potentially be

19:01

[ __ ] up somebody’s life right yes

19:03

there are people that are buying houses

19:05

in between

19:06

homes yeah so let’s they’re like hey man

19:08

i’m gonna sell my house

19:10

and

19:11

i’m gonna have you know i’m gonna be

19:13

homeless right for like the weekend and

19:15

then we’re supposed to be moving into

19:16

the new house on monday

19:18

well what happens if you [ __ ] up on the

19:19

loan right right these people are

19:22

homeless permanently yeah and hey hey no

19:25

pressure yeah yeah

19:26

no it’s legit yeah yeah and so

19:29

everybody’s gonna be mad because at the

19:31

end of the day you’re mad too

19:33

oh yeah you’re mad yeah and the thing is

19:35

the thing that’s very scary with my job

19:37

is

19:39

guidelines change every day so with your

19:41

line of work mitch i i mean there are

19:43

probably some code where you can’t use

19:45

certain pipes right yeah i mean we’ve

19:47

we’ve got code that we adhere to but

19:48

code changes real slow okay and so

19:50

industry yeah yeah let’s be honest if

19:52

mitch makes a mistake and floods

19:54

someone’s house they’re not i mean they

19:56

may be homeless but mitch is paying for

19:57

it right yeah that’s like my mistakes

19:59

let’s be honest yeah my mistakes are

20:01

costly these are life-changing mistakes

20:03

yes and this is mine are costly in a

20:05

dollar

20:06

way right like if i make a mistake i’m

20:08

flooding somebody’s house if you make a

20:09

mistake they don’t have a house to flood

20:12

that or like let’s say somebody does not

20:14

have

20:15

um they only have enough to buy the

20:17

house

20:19

meaning they only have a certain amount

20:20

of down payment and closing costs yeah

20:21

so you have like 15 grand right well

20:24

when you’re buying a house you’re a

20:25

homeowner you’re a homeowner

20:27

when you bought the house

20:30

did you put down a deposit like an

20:31

earnest deposit it’s like a good faith

20:33

right yeah right okay i’m interested in

20:35

buying your house of course don’t sell

20:36

it to anybody else yeah it works the

20:38

same if you’re building a new house hey

20:39

right you’ve got it we the bank wants

20:41

you to have interest in the loan yeah

20:44

interest not in the percentage right say

20:46

hey yeah invested interest we’ll do it

20:49

yeah we’ll do it but yeah you’ve got to

20:50

write us a check for 75k dude especially

20:53

especially when buying a brand new house

20:55

yeah a new build yeah because the

20:57

deposit on those is huge yeah and if

20:59

something gets messed up usually if

21:02

there is a valid reason for you to back

21:03

out of a contract you can actually get

21:05

that earnest deposit back right yeah if

21:07

somebody screws up royally

21:11

the client would lose that money right

21:12

and they can’t they have nothing to they

21:14

can’t do anything about it yeah right

21:16

right but yeah

21:17

so this is what makes a good loan

21:19

officer from a bad loan officer right so

21:22

kind of answering your question about

21:23

what happens when mistakes happen

21:26

well one you really try to do your best

21:28

to not screw up because you could lose

21:29

your license

21:30

you know with attention to detail

21:32

attention to detail that’s for sure at

21:34

this point because the thing that’s

21:35

scary is we don’t push things you know

21:38

we don’t pay-per-push anymore we do

21:40

computer push yeah yeah so everything’s

21:42

electronic yeah you can sign your

21:43

signature yeah and then and then it’s

21:46

just a click and just click click click

21:47

click click done that’s the danger no

21:49

that is scary that is scary first time i

21:51

did it i was like what the heck is this

21:54

that is one of the benefits though of

21:56

working for kind of under that

21:58

semi-quasi umbrella that you have

22:01

is

22:02

that’s their role is to like they’re

22:05

gonna build that process

22:07

so you don’t screw up and and they’re

22:08

gonna basically hand you the right

22:10

paperwork you just have to get it filled

22:12

out correctly

22:13

not to say mistakes can’t have sure they

22:15

still happen yeah but uh that’s that’s

22:18

kind of their role is to help shepherd

22:20

along that overriding process

22:23

so that’s the other thing so let me add

22:24

to you that yes they provide the

22:26

framework but as a loan officer you are

22:28

in charge and responsible for knowing

22:31

the guidelines right oh it still falls

22:34

on your shoulder oh for sure yeah you

22:36

know like there are some things where

22:37

here’s the framework on how to sell a

22:40

basic mortgage but not everybody’s

22:41

situation is the same

22:43

so if you start of course you don’t

22:44

study yeah if you don’t study

22:46

if you don’t teach yourself guidelines

22:48

if you learn and say if you don’t stay

22:49

up on the guidelines exactly for sure

22:51

you could royally f up on something so

22:53

let me ask you a question

22:54

so do they

22:57

how do you stay up on those guidelines

22:58

do they i mean do you get are you part

23:00

of a group that gets emails when they’re

23:02

they’re updated

23:04

from that company from

23:06

from the government i mean how does that

23:07

work yeah so typically the government

23:09

would release new guidelines to the

23:12

out there right industry-wide so there’s

23:14

going to be some newsletters out there

23:15

okay um but the situation is it depends

23:17

on how good your

23:20

company is at staying with that guy okay

23:22

because if the guidelines change and it

23:24

doesn’t

23:24

they don’t pass it on to the loan

23:26

officers right you’re screwed yeah i was

23:28

gonna say then you’d be in trouble right

23:29

for example so my last company there is

23:32

a loan there is a loan program that

23:34

that’s changed where you can average out

23:37

credit scores now

23:39

before you take the lower of the two

23:41

right applicants

23:42

it’s still to a certain extent when you

23:44

say applicants do you mean the two

23:45

people that are applying yep so the

23:47

average

23:48

so there’s three major

23:51

credit bureaus

23:52

so you’ve got three and three you

23:54

average those and then those two people

23:56

get them and then you average that or

23:58

so before we would take the middle lower

24:01

score of the two people okay

24:03

so one person could have everything

24:04

above 700 and the second person could

24:07

have a 500 credit score and then a two

24:09

600 credit scores

24:11

we would use the 500 right which sucks

24:14

yeah which by the way if if you’re

24:16

watching the show and you don’t know

24:17

check your credit score because if your

24:19

lower one’s 550 you’ve got work to do

24:22

that’s right you know and like when we

24:24

built this house

24:25

they took

24:26

this was the lowest this is a long time

24:28

ago uh 10 or 11 years ago

24:30

so this was after 2008 but like he said

24:33

they’re changing them every six years

24:34

they’re changing them all the time but

24:35

like when we built this house they had

24:36

to take of mine and my wife’s they took

24:38

our lowest credit score but then they

24:40

also approved us based off of one income

24:44

and it was whoever’s income was the

24:46

lowest yeah and so

24:48

uh basically they were it was a kind of

24:49

a double measure of security like if

24:51

this loan goes belly up conservative

24:53

yeah we want to make sure that we’re

24:55

we’re approving this off the lower of

24:57

the two credit scores and if they were

24:58

to get split up we want to make sure

25:00

that the lower of the two incomes can

25:01

afford it and i would i thought it was

25:04

really admirable i thought man that’s if

25:06

they would have done this before 2008

25:07

they probably 2008 would probably never

25:09

happen i’m sure that was changed after

25:11

it was right i’m sure they were like oh

25:13

okay [ __ ] this is what happened we’ve

25:15

got to make a you know a change here

25:18

it’s changed now too from what you’re

25:19

just saying about the income part so

25:22

how it works is the credit score would

25:24

be you know it depends on the loan

25:25

program but you can average out the

25:26

loans uh the credit scores interesting

25:29

but on the income now

25:30

um

25:32

the cosigner so let’s say

25:33

mommy and daddy and the kid the kids

25:35

trying to buy a house

25:37

newly graduated from college

25:39

30 000 a year yeah first off just let me

25:42

say i’m not loaning any of them money

25:44

no i don’t i don’t give a [ __ ] so if the

25:46

mommy and daddy didn’t help me with my

25:48

house i’m not not because i don’t mean

25:50

because of that because i don’t trust

25:51

that kid that just graduated college

25:52

right if mom and dad want to sign on the

25:54

number one line okay oh yeah you know

25:57

if they’re signing number two i don’t

25:58

know right that kid’s not getting any

26:00

money from me no yeah just personally

26:02

but the mom and dad

26:05

could very well just co-sign

26:07

right so let’s say mommy daddy makes 150

26:09

000

26:10

for the household yeah

26:12

so

26:14

if

26:15

sally the daughter

26:17

makes 30 grand a year and she’s got good

26:19

credit score mommy and daddy also have a

26:21

good credit score

26:22

but her debt to income is pretty high so

26:24

then you could actually

26:26

um

26:27

bring in somebody that brings in a lot

26:29

of income and then we can count that

26:31

yeah

26:32

yeah that’s that’s getting back to a

26:34

little bit scarier with the

26:37

with the uh

26:38

back kind of towards the 2008 type of

26:40

stuff i hope not a little i like my job

26:43

first off yeah 08 was a [ __ ] show it was

26:45

and so in oa i was doing new

26:47

construction now it’s going to be 08 was

26:51

08 was brutal well it’s going to be a

26:53

little cyclical cyclical right so

26:55

not that bad though there’s been no

26:57

cycle that hit 08. you wouldn’t i mean

26:59

when you go back and look from from 1965

27:02

to 08 that cyclical cycle when it gets

27:05

to oa i mean it’s just i mean it’s a new

27:08

cycle yeah so if it is and there wasn’t

27:10

anything before right i mean when it if

27:13

it turns into a cycle when is the next

27:15

one it’s not right now no no no no no i

27:18

hope not is that right is that one of

27:20

your fears as as as being new and often

27:23

into this and everything is is

27:25

is one of your fears having a housing

27:27

market

27:29

fluctuation like that

27:31

well that’s where you kind of design

27:33

your career all right so we had a refi

27:36

boom you know in the last two years yeah

27:38

rates are so low everybody’s making a

27:40

killing right but everybody was doing a

27:42

lot of refinance because the refinance

27:44

would pay the same as a purchase

27:47

right and those are a lot easier you can

27:48

get those done in like two weeks and get

27:49

it you know get paid yeah

27:52

and uh

27:53

the thing is that’s funny with our

27:55

industry is we actually

27:57

uh do really well in times of

27:58

uncertainty so right now with the award

28:01

with the war that’s going on

28:03

um

28:04

the rates are actually decreasing

28:07

they’re starting to go back down again

28:08

it’s going down a little bit yeah right

28:10

and i don’t get that either this is a

28:11

complete off tangent so when we built

28:13

our house

28:14

you know when we were getting ready to

28:16

the construction loan was closing and we

28:18

were gonna

28:19

you know get into our permanent loan

28:21

the lady was like okay these are your

28:23

terms this is that blah blah it was four

28:25

and a half percent yeah and i’m thinking

28:28

what

28:29

this this was literally four years ago

28:31

i i’m like what

28:33

janine and i are i mean our credit score

28:35

our credit scores were insane yeah i

28:37

would think mine was like 740 and

28:38

janine’s was like 780. okay look at you

28:41

we were even married 22

28:43

22 years 18 years this next year so i

28:46

mean it’s always been her and i against

28:47

everybody else

28:48

so our credit scores were always great

28:50

well so and i’m like what do you mean

28:52

four and a half i see rates are at

28:54

three

28:55

what do you mean four and a half she’s

28:56

like well you don’t own a home

28:59

yeah i’m trying to i know i sold a home

29:02

i’m renting a space from myself to build

29:05

this

29:06

what do you mean no you’re four and a

29:07

half and i mean i was so mad but there

29:10

was nothing i could do about it you know

29:11

so you know we went ahead and did the

29:13

deal and like you just said with the

29:15

refinance i waited six months i think

29:17

that was i think it was six months we

29:18

had to wait and then refinance and they

29:20

were like oh no we can get you for two

29:22

four yeah two four i was like

29:25

at the time i was so mad at everyone

29:27

like you

29:28

no nothing personal but this i mean i

29:31

was

29:32

right i mean i would but then you don’t

29:34

understand the ins and outs you don’t

29:35

understand you know everyone ha and i

29:37

understand everyone has to make money

29:38

right i mean that’s the whole scheme of

29:40

everything

29:41

if everyone’s not making money the

29:42

machine’s not turning

29:44

okay and the credit score thing can be

29:46

kind of weird too well and that’s what

29:47

helps you in some areas hurts you in

29:49

another like you don’t have enough debt

29:52

yeah i was like yeah trade lines yeah

29:53

yeah i was like what do you mean i don’t

29:54

that’s basically what they were saying

29:56

was like no you don’t own a home yeah or

29:58

like a car payment yeah you’re like i

30:00

don’t own a home i don’t have any car

30:01

payments i have this house i can refi

30:04

for two and a half but you’re gonna get

30:06

me for four and a half yeah and i mean

30:08

you just have to kind of swallow your

30:09

pride and be like okay i’ll just wait

30:11

the six months and you know in the grand

30:12

scheme of things it wasn’t that much

30:14

money you know i mean a couple thousand

30:15

dollars what you know whatever but it’s

30:17

just like right at the time but if you

30:19

have a good

30:20

uh loan advisor

30:23

they can uh

30:24

they can explain those things to you

30:26

like hey and and the the lady at the

30:28

time i won’t say who she was but you

30:30

know i’m asking her all these questions

30:31

i mean i’m just i’m not an idiot she’s

30:34

so buy the book she’s not even helping

30:35

yeah this is my second home you know i

30:37

know i’m not an idiot yeah you know so

30:39

i’m just right hands on the day you know

30:42

true

30:43

so i’m just you know rattling off all

30:44

these questions and you know and to have

30:46

a good

30:47

um loan advisor that’s helping you right

30:51

you know that was one of those lessons i

30:52

had to learn because when we bought our

30:53

first house we didn’t care right you

30:55

know we were 22. who cares you know you

30:57

just get in the house but then you learn

30:59

that but but now you know hey and that’s

31:01

part of the show part of you know

31:04

starting a small business is you have to

31:06

vet people

31:07

you have to know what they’re giving you

31:10

yeah you know what i mean

31:11

vet everyone have a good

31:14

loan advisor right have a good plumber

31:16

you know

31:17

have a good

31:18

because you’d be in deep [ __ ] if you

31:19

don’t whatever he is

31:22

no unintended yeah no pun intended

31:24

that’s right you know it’s just i mean

31:26

you

31:27

you’ve got to have people that know what

31:29

they’re doing helping you right all the

31:30

time so to add to that though like you

31:33

know what makes a good loan officer

31:36

right communicate

31:37

you’re not going to be annoyed so you’re

31:39

going to have a really long patience

31:40

because you’re dealing with people

31:42

you’re not just dealing with investors

31:44

you’re dealing with first-time home

31:45

buyers that are freaking out yeah they

31:47

don’t know what the hell is going on

31:48

right second home second time home

31:49

buyers it’s still good they don’t know

31:51

they’re like what

31:52

when she told me that i was like what

31:54

yeah i thought i knew i thought i was

31:55

the [ __ ] i knew everything nope no

31:57

didn’t know

31:58

that’s why you hire real maybe if i had

32:00

known

32:01

you’d get a good one jay dawg

32:03

i would have known you know oh you guys

32:04

are so nice and then like dealing with

32:07

um you’re dealing with

32:09

um the mistakes you own it

32:12

so when you’re dealing with um this goes

32:14

for any business

32:16

if you royally screw up

32:18

own it yeah do not hide do not ignore

32:21

your phone ringing

32:22

yeah just swallow the frog so you want

32:25

to hear a crazy that’s great swallow the

32:27

frog you want to hear a crazy story

32:28

about owning a mistake let’s do it right

32:30

so

32:31

i’ve been plumbing for 20 years

32:34

one of the things one other thing yeah

32:37

over the hill right yes so one of the

32:40

things that plumbers have to do is we

32:41

install bathtubs

32:43

and a couple of weeks ago i was

32:45

installing a customer supplied bathtub

32:48

you or one of your guys i was okay me

32:50

personally okay so if you [ __ ] it up

32:52

i’m ready to i’m ready to get on you

32:54

yeah and this is in a finished house and

32:56

so in a finished house you can’t use a

32:58

full-size bathtub you have to use a

33:00

multi-piece it’s going to have like a

33:01

base and then a back wall and two

33:03

sidewalls right yeah probably above the

33:04

floor rough and and they’re fairly

33:06

expensive yeah they’re about 800 bucks

33:08

for this set right so fiberglass

33:10

customer yep yep so customer provides it

33:13

and i’m getting it all put in

33:15

first time in 20 years

33:19

i drilled the holes in the wrong spot

33:21

for the valve and the tub spout

33:25

just flat mismeasured dude mism misread

33:29

my tape measure i don’t know what it was

33:31

i mean they were perfectly in alignment

33:32

just not in the right spot the beautiful

33:34

thing about owning your own business is

33:35

nobody’s gonna fire you right right

33:39

that’s more important than losing a job

33:41

from my boss the reason i laugh so much

33:42

is because do you remember when we were

33:44

kids

33:45

i said kids when we were 20 and you’d

33:46

have to so the modular would come out to

33:48

a new construction job site and i mean

33:50

they would be like okay this is what you

33:51

got to do yeah you’d measure it twice

33:53

measure it three times you would not and

33:55

if you effed it up literally when we i

33:58

mean they were almost fine

33:59

yeah yeah if you had like one screw up

34:01

before that yeah you were gone so i mean

34:04

they were it was a rotating door

34:06

multi-piece kit that’s so hard right

34:08

multi-piece kit and i just drilled a

34:09

hole in one of the four pieces wrong so

34:12

what’d you do was it the back piece or

34:13

just like uh no it’s the valve side

34:16

right so brutal um

34:18

so the first like the moment i realized

34:20

it was wrong the first thing i do

34:22

customer’s not on site she’s working

34:24

where did she get it from

34:26

she bought it from a supplier i don’t

34:28

know like home depot reloads so you

34:30

snuck off the lows like a general no no

34:32

i pulled out my phone i took a picture

34:34

of the mistake and you can see like

34:36

here’s the drain holes and then here’s

34:37

the valve hole like oh my god right like

34:39

it’s bad

34:41

and and so i took a picture of it

34:43

and i texted her and i said you’re never

34:45

going to believe this 20 years in the

34:47

industry and i’ve never made this

34:48

mistake but i just royally screwed up

34:50

and drilled this in the wrong spot i

34:52

said i owe you

34:54

a new tub wall kit

34:56

where did you buy it because i have to

34:58

go get you one right now sold out and

35:00

yeah probably right now right yeah no

35:02

yeah with the pandemic they’re very hard

35:03

to find yeah and so i the i’m all all

35:06

this is going through my head right like

35:07

you’re like i’m gonna have to drive to

35:08

kck lowe’s i’m gonna have to drive to

35:10

wyandotte county low i’m gonna have to

35:12

drive to who knows we’re talking an hour

35:13

away yeah believe it or not the cost

35:15

wasn’t running through my head as much

35:17

as like the hassle to get it yeah to get

35:19

it so i text her i’m sure a three-piece

35:21

upper is probably not too bad she

35:23

replies right away and she says

35:25

i have a spare set of pant wall panels

35:28

downstairs they ship them wow the first

35:31

ones that showed up there was a crack in

35:32

one of the panels so as long as the

35:34

panel you need isn’t the cracked one

35:36

then we’re good you gotta be the

35:38

luckiest son of a [ __ ] i go down yeah i

35:40

go downstairs right

35:42

i go downstairs and sure marcus in the

35:44

back right now is like this [ __ ]

35:47

god

35:48

son of a lucky i go downstairs and sure

35:51

enough the panel that i need is not

35:52

cracked it’s the other side that’s

35:54

cracked and so i drill it in the right

35:56

spot this time put it all on and

35:58

everything’s good they gave her the

36:00

other wall set for free because the one

36:01

did you give did you give her a little

36:03

kickback for having it no she she didn’t

36:06

like i didn’t i mean i didn’t have to

36:08

she didn’t ask she was just like hey

36:09

this is karma working out you were

36:11

honest you came clean i had the spare

36:13

set like this is just easy this is just

36:15

the way that karma works right so that

36:18

is one thing about that is never assume

36:20

how the conversation is going to be

36:21

right make those tough calls and

36:24

i don’t know if this is going to lead us

36:25

to the next section it’s okay no just

36:27

keep going yeah just go go with your gut

36:30

but you know what when you uh never

36:32

assume how the conversation’s gonna go

36:33

so just do it right and what is going to

36:36

take your business to the next level

36:38

right is one step

36:39

progress even if it’s one little step

36:42

every single day yeah

36:43

right yeah and so this is one of them is

36:46

if you have to make that phone call and

36:47

you don’t want to call that client do it

36:50

because you don’t know what’s gonna

36:51

happen they might be completely

36:52

understanding yeah you know i’ve had

36:54

those where

36:55

this is not really a screw-up but there

36:57

are those you know in this environment

36:59

with interest rates and whatnot

37:02

rates go up like out of nowhere yeah

37:06

yeah and they’re out of your control it

37:08

is out of my control but

37:09

you’re the messenger according yeah and

37:11

you get shot a lot yeah according to the

37:13

client you control everything

37:16

which you’re shooting the messenger yes

37:18

i didn’t want to laugh at it oh for sure

37:20

you shot a lot man and that’s the thing

37:22

is

37:23

you’re gonna talk to

37:25

a client hey you’re looking to refinance

37:27

2.4 interest rate

37:29

and

37:30

what happens if the rate goes up

37:33

next week 2.9 by the time he closed

37:36

even worse it could be from two and a

37:38

half especially in a new construction it

37:39

could go from two and a half yeah to

37:41

four percent yeah those dudes they they

37:43

rotate that so much i mean i know when

37:45

you do a refi um sometimes you know

37:47

they’ll lock you in say hey but a refi

37:49

is different you know you know what’s

37:51

going on this purchase of money yeah

37:52

this is you know

37:54

but yeah make sure you lock it in in a

37:57

new oh

37:59

well i’m trying to think when we built

38:00

and and again 10 11 years ago lots of

38:03

changes it was probably locked in we had

38:04

like a 60-day window if i remember right

38:07

they they kind of said okay your window

38:09

starts now

38:10

you can lock in anytime in the next 60

38:12

days and so we were we were able to like

38:16

call or check online

38:18

what the rate was and then we were

38:20

taking a gamble like okay if we lock in

38:21

now it might go lower later and then we

38:23

kind of lost out or if we lock in now

38:25

when it goes up well we we played a good

38:27

safety yep yeah so

38:29

um but at the time we were building

38:32

um it wasn’t i mean it wasn’t moving but

38:35

maybe a tenth of a point day to day

38:37

today so if there was like three tenths

38:39

of a point swing over that entire 60

38:41

like again it kind of didn’t really

38:43

matter for us yeah and it was a day it’s

38:44

a little bit more volatile yeah it was

38:46

different back then there’s now now it’s

38:48

crazy it’s just literally insane oh

38:50

here’s the danger too what if you lock

38:52

too early and the lock expires so the

38:54

lock expires oh yeah your builder runs

38:56

into lumber shortages or something and

38:58

now i can’t get in either that or so so

39:00

are you calling them like hey

39:02

sorry and that comes out of the door or

39:04

they [ __ ] it or do they call you and

39:06

they’re like hey

39:07

this is going later and you’re like oh i

39:10

don’t know what to tell you oh dude i

39:11

mean what’s that what’s the circumstance

39:13

if you’re a good loan officer you’re

39:14

going to be on top of that so you’re

39:15

going to be doing a review of your

39:16

pipeline

39:18

and you’re going to look at okay this

39:20

lady’s lock is going to expire in seven

39:22

days

39:23

so what can cause a lock to expire is if

39:26

let’s say appraisals appraisals take

39:28

three weeks four weeks and what if you

39:30

only lock it for 30 days

39:32

and the average appraiser i mean there’s

39:34

really there’s a shortage of appraiser

39:36

yeah so and they’re all getting old

39:38

so if you need job security become an

39:40

appraiser

39:42

hey guys

39:43

yeah become self-employed yeah become an

39:45

appraiser and you can make bank yeah

39:48

right but let’s say that turn time is

39:51

longer than 30 days right because

39:53

they’re so busy everybody’s trying to

39:54

buy a house and your lock is only for 30

39:58

days

39:59

so i don’t want to get in too much into

40:01

the weeds but those daily interest daily

40:04

interest

40:05

beyond you’re going to get charged right

40:07

so let’s say you’re

40:08

30 days lot that expires in your 10 days

40:11

after your lock right well you’re

40:13

getting charged interest based on the

40:15

total loan amount

40:16

so if your loan amount is a million

40:18

dollars

40:19

you know it’s a bigger gamble times that

40:21

by 10

40:22

hours

40:23

and you if you’re not closing it within

40:25

a certain time period if you’re

40:27

if it takes you 60 days that’s 30 days

40:30

worth of interest yeah right i hope

40:33

marcus is paying attention to this

40:34

episode yeah marcus is thinking about

40:37

getting him a new house i’m sure let’s

40:39

go we’ve talked about it

40:40

i mean

40:41

he knows who to call i mean weird i mean

40:44

he better be

40:45

after this is all done he’s edited you

40:47

better watch it a couple times

40:49

right exactly you know what i mean i

40:50

might have scared the [ __ ] out of him to

40:52

buy a house he’s like oh my god there’s

40:53

so many different things yeah well

40:54

you’re saying the words

40:56

you know what though

40:57

he you are scaring him but if you have a

40:58

good loan officer they’re going to tell

41:00

you all that up front like hey look

41:02

this is what’s going to happen you can’t

41:03

change reality all you can do is inform

41:05

yourself that’s right you can prepare

41:07

you can prepare for reality and

41:08

communication man yeah own your mistakes

41:11

and communicate yeah in the worst times

41:14

and this has kind of gone from

41:16

a little bit of a

41:18

rabbit hole business owner two

41:21

two more financial advice and that’s

41:22

great yeah but that’s still i love

41:24

finances

41:26

it eats me up

41:27

dave’s a finance geek i love it man all

41:29

i do is read finance study i i love it

41:32

we’ll have to talk about like krypton

41:34

investments too you do all that

41:36

i’ve got some questions yes i understand

41:38

that crypto stuff oh hell yeah look look

41:40

at them there are actually some mortgage

41:41

companies just they’re taking it’s just

41:43

money off of crypto yeah the only thing

41:44

i hate about crypto is is how volatile

41:47

it is i mean i bought some just just as

41:50

as an example i bought some ethereum

41:52

classic

41:53

um i

41:54

i think it was sixty four dollars oh

41:56

he’s got it he’s got money

41:59

it was like sixty five dollars when i

42:00

bought it right now it’s been and for

42:03

the last four months three months it’s

42:05

been trading at like 30. right so it’s

42:07

like i lost you know a lot i didn’t lose

42:09

money because i didn’t sell it i just

42:10

i’m hanging on to it yeah because i

42:12

think it’s you know obviously you know

42:16

if you’re going to get into some classic

42:18

or some smaller stuff like that i i

42:20

don’t want to give financial advice but

42:21

now might be the time oh yeah you know

42:23

so yeah there’s a i mean for

42:25

entertainment purposes entertainment

42:27

purposes only i mean i do it because i

42:29

just i kind of like to do it you know i

42:31

mean i’m not see you could be a [ __ ]

42:32

like me i bought amc at its peak

42:35

thinking it’s going to peak even higher

42:38

and that’s a great way to cut your

42:40

investments by 50 oh my god let me i

42:42

have a story for this dude it happens it

42:44

happens everybody so there’s people so

42:46

there’s this guy

42:48

there’s a guy in a different state

42:51

because i used to be licensed in all 50

42:54

states right so i’m doing business all

42:55

around the country so there’s this guy

42:57

he’s like

42:58

hey jay dog he didn’t really say that

43:00

hey dog

43:01

yeah what’s up dog yeah

43:03

he’s like hey i’m thinking about

43:04

refinancing i said fantastic are you

43:07

doing just to lower your interest rate

43:08

or are we doing some cash out tap into

43:10

the equity of your home

43:11

i am tapping into the equity he’s like

43:14

i’m mortgaging this [ __ ] to the hilt

43:15

that is exactly oh my god don’t tell me

43:17

he mortgaged his house to buy first off

43:20

tell me that

43:21

i know guys that mortgage to the hilt

43:23

that’s their their philosophy to make

43:24

money that’s another conversation for

43:26

another day well we can talk about you

43:28

know uh wealth building strategy if

43:29

you’re borrowing your money at two

43:31

percent two and a half percent yeah

43:34

yeah that’s that’s different great we’re

43:36

not getting into that so this guy and

43:38

that’s yeah that’s a whole nother show

43:40

that’s a whole other show you know what

43:41

i will say this we talked about we i

43:43

don’t want to interrupt jeremy i’m going

43:45

to let him go right after this but we

43:47

talk about having the guests on again in

43:48

like six months to see how they’re doing

43:50

yeah you know maybe we haven’t bought in

43:52

three months to talk about just

43:53

investment strategy and maybe i like

43:55

that then later i like that sidebar show

43:58

go ahead yes go ahead jeremy i’m sorry

43:59

i’d love to i’d be honored um

44:02

he bought some amc

44:05

all of those things in reddit

44:08

junior what dollar amount did he buy it

44:10

was probably missing

44:11

it i don’t remember

44:13

but she’ll load it

44:15

oh my god that means

44:16

you only live once yeah yeah that means

44:19

you only loan once because you’re never

44:20

gonna get loaned again you know what

44:22

when you’re playing craps too there’s

44:23

yellow it’s the same thing this is one

44:26

hell of a story though because

44:29

we got time going it worked it worked

44:31

out in his favor did it so what do you

44:33

buy at 30 bucks or something oh dude so

44:36

i don’t know how like how specific i can

44:38

get i guess i’m not with that company

44:39

anymore so i don’t care well and you

44:40

haven’t said the guy’s name don’t say as

44:42

long as you don’t say any names and give

44:44

approximate numbers it doesn’t matter it

44:46

is

44:47

upper five figures that he cashed out

44:49

okay okay

44:51

at a good interest rate yeah and this

44:53

guy bought some of those reddit stocks

44:56

right and also some crypto like gamestop

44:58

like shiba or whoever shiva yeah

45:02

and he bought shiba oh yeah

45:04

he bought doge before the spike too

45:06

before it exploded bigger balls than i

45:08

did yeah i didn’t have the stones to do

45:10

it and it’s funny because he’s actually

45:12

into trade his he owns a business yeah

45:15

um and he is a blue collar i love it

45:18

yeah always owns the company yeah and uh

45:21

[ __ ] he bought he made better decisions

45:23

than you mean he bought a really he

45:25

bought a really nice boat right nice

45:27

well that’s good

45:28

good for him i mean it this stuff works

45:30

out for anyone so full disclosure

45:32

whenever i invested in crypto it was

45:34

only a thousand bucks right do opposite

45:36

of what mitch does right

45:37

so

45:38

so i put i put a thousand in a week in

45:41

i’m up 300 bucks and i’m like hell yeah

45:44

up 30 in a week this is great paying

45:46

taxes except you’re paying 35 taxes now

45:49

i’m down dude it’s so stupid

45:51

it’s brutal yeah you have to keep your

45:54

tax strategy

45:56

involved when you make

45:58

small investments like that yeah i’m

46:00

intrigued with crypto but i’m not i

46:02

don’t i’m not savvy enough to really

46:03

even make a good conscious decision so

46:06

going back to you gotta have some money

46:07

there’s guys that’ll waste a thousand

46:09

dollars a lot more stupid stuff than

46:10

that yeah capital

46:13

you yeah you do

46:15

but this is for the audience the best

46:17

bet you can make is on yourself so

46:19

you’re kind of going back to yourself in

46:20

your own home we were just talking about

46:22

that mitch yeah yeah that’s the thing

46:24

marcus and i were just having a

46:25

conversation about that on friday yeah

46:26

the what where to invest your money like

46:29

so

46:31

well what we were doing we were running

46:32

a hypothetical

46:33

uh like a hypothetical scenario let’s

46:36

say a person has ten thousand dollars to

46:39

invest somewhere right

46:40

um at a a working-class person

46:45

thousand dollars to invest

46:46

you could plug that into a mutual fund

46:48

or you could plug that into some kind of

46:50

investment and get maybe

46:53

eight to eleven percent in your

46:58

so at 10

47:00

yeah you’re going to put it in for a

47:01

year and at the end of the year you turn

47:03

10 grand into 11 grand big freaking

47:05

whoop you made a thousand bucks right

47:07

first off that’s not how you look at it

47:09

the look you look at it as i understand

47:11

that hey in five years i understand in

47:13

five years that 10 grand is going to be

47:15

16 or 17 and right and now i’ve done

47:18

something

47:20

and it really only works if you’re going

47:21

to take that money and do something else

47:23

with it later when we’re saying like

47:24

working at you go ahead so what

47:26

where we were coming to though was like

47:28

if you’re looking for faster returns on

47:30

your money if you invest that into

47:32

yourself if you start a small business

47:35

or you invest

47:36

in a small business in some way you can

47:39

literally turn that 10 grand into 20 or

47:42

30 grand with your

47:44

this is your sweat equity this is true

47:46

like sweaty so so you can work that

47:49

money

47:50

and turn it into significantly more

47:53

than you would if you just threw it into

47:55

a fund so

47:57

you can and my rebuttal to that would be

47:59

so earlier before the show started you

48:02

know we were talking about marcus doing

48:03

side work yep and you’re like hey marcus

48:06

yeah don’t do side work no i do do side

48:08

work for my my wife though yeah i mean

48:10

you know what i mean but

48:12

realistically in a year can you take

48:13

that 10 grand in side work and make 11.

48:16

right

48:17

maybe

48:18

you know wouldn’t be worth it if you

48:19

really didn’t make it usually

48:21

so the articles i read that are are

48:23

usually like hey invest in yourself

48:25

they’re usually talking about

48:27

you have a steady job and then you take

48:30

that five grand and then do a side

48:32

hustle with it yeah to try to make it

48:35

more usually that’s what they’re talking

48:37

about yeah the easy way

48:39

and this is more of an upper middle

48:41

class thing i would think if you’re

48:44

going to take that money and turn it

48:46

into something then you invest in mutual

48:48

funds and stuff like that now

48:51

and i don’t want to i don’t want to

48:53

demean anyone but the poorer you are the

48:55

easier it is to take that money and make

48:57

something with it because you’re

48:59

probably not making a ton of money at

49:01

your job right yep you know what i mean

49:03

so the percentage is higher because

49:05

you’re

49:06

you’re not making as much to begin with

49:08

right and and and that’s just

49:11

that’s not set in stone that’s just

49:12

another way to think about it yeah so

49:14

this is something that you need to

49:15

consider when you are

49:17

starting your own business when you’re

49:19

starting your own business you have no

49:21

support whatsoever

49:24

right and so you don’t have any benefits

49:26

right okay yeah so you kind of have to

49:27

come up with this

49:29

so there is always ways different ways

49:32

to mitigate risk

49:33

so what you’re talking about is like the

49:35

passive approach right invest it yep

49:37

well that’s not bad either because what

49:39

if your idea completely flops

49:41

and you let’s say you’re like in your

49:43

40s and you don’t have

49:44

uh you don’t have that runway for

49:47

compounding to work yeah right you don’t

49:48

have that launchpad yeah exactly so what

49:50

i would recommend is like not financial

49:53

advice for entertainment purposes

49:55

and that’s what we talk about all the

49:56

time on the show these are these are not

49:58

set in stone ways these this is we have

50:01

gathered all this information jeremy has

50:03

gathered it i’ve gathered it mitch has

50:04

gathered we’re giving you all of this

50:06

information that you are responsible for

50:09

the decisions that you make yeah and so

50:10

what you want to do is you want to do

50:12

one passive and one active so let’s say

50:14

you have 10 grand just like for your

50:16

example out of that out of that 10 grand

50:19

i would split it up five thousand

50:20

dollars put it into the market and

50:23

that’s it

50:24

just let it write because five thousand

50:25

invested in 20 30 years compounded it’s

50:28

gonna be a significant amount of money

50:30

now take that five thousand dollars

50:32

and invest it in training

50:34

right the other five yeah yeah like

50:37

you say like training like courses oh

50:39

courses um equipment okay right maybe

50:43

teaching online classes and videography

50:45

right right because the thing is the

50:47

thing about it is if you invest in

50:50

equipment or invest in training

50:52

the training one is really good roi if

50:55

you’re in sales yeah so i always tell

50:56

people you’re always in sales and two

50:58

the number one highest paying percent uh

51:01

profession is sales

51:02

i don’t care if you’re a dentist you’re

51:04

a surgeon you are yourself whatever

51:07

you’re a salesman if you’re in service

51:08

you’re a salesman you sold yourself to

51:10

your significant other yeah that’s the

51:12

fact you’re in sales anything in life

51:14

that’s exactly right i did it without

51:15

knowing it i sold myself for me to be on

51:18

this podcast

51:19

[Laughter]

51:20

i sold my i oversold myself to mitch i

51:22

was like hey dude i am a badass loan

51:23

officer let me go ahead and be on your

51:25

podcast then he shows up and we’ve been

51:26

waiting with him for an hour and a half

51:28

just to get him prepped to be on the

51:29

show oh yeah for sure he needs a

51:31

permanent spot that’s what he needs oh

51:33

dude maybe we need to be is he working

51:34

for my

51:39

it’ll just be an awesome awesome like

51:41

podcast with like everybody

51:43

dude three people like three guests like

51:45

that um logan paul that podcast yeah

51:47

yeah yeah dude it’s just a bunch of

51:49

people yeah podcast people love it what

51:51

a [ __ ] show people love it too i don’t

51:54

understand it

51:55

i don’t know like i mean i didn’t have i

51:57

do understand i don’t know if that was

51:58

going to get you far as

52:00

doing the whole 10 grand well he’s

52:02

when jeremy talks about that he’s

52:04

talking about long-term investment okay

52:06

right when you guys were talking about

52:08

it the other day because i know we have

52:09

talked about this but you’re thinking

52:11

five years

52:13

you’re thinking five years which would

52:14

be for me

52:16

would be stock index fund would be index

52:18

funds that’s just

52:20

that’s just what i would do because i

52:22

feel safe doing it oh yeah and listen if

52:24

you don’t feel safe doing it and you’ve

52:26

done it before it

52:28

yes but but if you don’t feel safe doing

52:31

it and you’re gonna be

52:32

people don’t talk about this if if

52:34

you’re investing money and every night

52:36

you’re sick to your stomach and you

52:37

can’t sleep you don’t have the stomach

52:39

to do that okay right if you can’t sleep

52:42

for a week don’t do it whether it’s

52:44

making you money or not you have to do

52:46

something

52:47

that you feel comfortable with so that

52:49

you can live your life in addition to

52:52

making those investments because if

52:54

you’re just i mean if you’re sick and

52:55

have diarrhea and you’re throwing up and

52:57

you’re just like oh i can’t stand that

52:58

my twenty thousand dollars is invested

53:01

oh my god it’s not for you okay because

53:03

it you may be making money it’s making

53:05

your life worse

53:07

okay

53:08

that was small problems yeah exactly and

53:11

and there are

53:12

that’s what makes america great i feel

53:14

like is there are opportunities

53:17

for everyone despite their situation

53:20

dude i love america you know what i mean

53:22

you could take that you could take that

53:24

10 grand and buy your wife a salon

53:27

or rent her a salon and she could be

53:29

making you money off of that money okay

53:31

there are a hundred different ways

53:33

there’s a hundred take that you can do

53:35

that with it and moving and she could be

53:37

written booth space

53:38

yeah you know what i mean there are

53:40

there are

53:55

real for every single person out there

53:57

real quick

53:58

that doesn’t work

53:59

that doesn’t work what is a what is a a

54:02

conservatively

54:04

accurate rate of return on a investment

54:07

right now

54:08

eight to ten percent eight to ten so

54:10

we’re gonna start with the market we’re

54:11

gonna go eight yeah okay that’s low i’m

54:14

gonna i’m gonna give a rebuttal if if

54:16

you’re talking um a whole lot five years

54:18

whole life life insurance policies are

54:20

four and a half

54:21

and that is like the lowest that’s the

54:23

lowest of the average right okay so

54:26

on average eight to ten yeah we’re gonna

54:28

where are you going

54:30

yeah yeah stock markets your stock

54:32

markets last hundred years i just ran i

54:34

just ran some very real numbers mutual

54:37

funds mutual funds average over seven

54:39

years they say eight percent right so

54:41

here’s some real numbers for you mutual

54:43

or 401k is double every seven years

54:45

that’s based on eight percent right

54:48

i mean we have just totally gone from

54:50

small business well

54:52

to investing but

54:54

we could be talking i might have met my

54:55

best new friend right here

54:57

we could have been talking over people’s

54:59

heads as they’re thinking well i don’t

55:00

have investments and i don’t i don’t

55:01

think i’m ever going to have investments

55:03

or they’re never going to amount to

55:04

nothing so that’s okay let me give you a

55:05

real life example of the differences

55:07

here if you go buy a car for 25 000 and

55:11

you sign up for a 60-month note on that

55:14

car

55:15

at four percent interest okay that’s

55:17

pretty good interest

55:19

your payments are going to be 460

55:21

dollars a month and at the end of the 60

55:24

years it’s worth five dollars you’re

55:26

going to have an

55:27

it’s it’s worth less but

55:29

you’re going to have invested 27 625

55:34

okay

55:35

so i’m with you just this guy get easy

55:37

on my funny bone

55:39

hang with me for a minute so

55:41

60 months you’ve committed to a 460

55:45

a month investment let’s go and in the

55:47

end of it you’ve invested 27 625 yep and

55:51

you have a car

55:53

that when you bought it was worth 25 we

55:55

don’t know what it’s going to be worth

55:56

at 60 months later in this market might

55:58

be up a little bit might be neutral yeah

56:00

probably right up right now probably

56:01

going to be a little down later on on

56:03

the average is down down a little bit

56:04

right so take that same 460 a month

56:09

and you invest it

56:10

at an eight percent return and you just

56:12

take four sixty five years and you just

56:14

start plugging it into an investment for

56:16

five years for five years five years

56:18

what’s the number thirty four thousand

56:20

one hundred and seventy five dollars

56:22

i like it okay now

56:25

over 20 years that well i’m not gonna

56:28

i’m not gonna go that route with it

56:29

you’re not what you’re not going to turn

56:30

me down on long-term investments no i

56:33

i’m not turning

56:34

i’m not going to determine investments

56:36

compound interest is if you’re freaking

56:38

20 years old compound interest is your

56:40

best friend i guess what i’m saying

56:42

right is under the loan status you’ve

56:44

invested this is coming back on mitch

56:46

here in about two minutes if he doesn’t

56:48

understand under the loan status you’ve

56:50

invested twenty seven thousand six

56:51

hundred dollars and you’re left with an

56:53

asset that probably isn’t worth twenty

56:55

seven thousand six hundred dollars under

56:57

the investment status you’ve invested

56:59

the same twenty seven thousand six

57:01

hundred dollars only now you’re left

57:03

with an asset that’s worth 34. that’s

57:05

the business we need to start so start a

57:07

credit card company

57:08

right

57:10

i got i got a buddy of mine that’ll

57:11

probably be on the a guest on the

57:12

podcast that was a vp of a credit card

57:14

processing company first off that’s the

57:16

guy you’ve been telling me we ain’t got

57:17

the cash

57:18

so i mean i i love the idea but none of

57:21

us got that for a lot of our listeners

57:23

who might be thinking that investing is

57:25

a little over their head

57:27

there is a very realistic example of you

57:30

wanting to go buy the the five-year-old

57:32

dodge challenger that you see on the

57:33

used car lot on the corner that you

57:34

think your wife’s gonna really dig well

57:36

what would she dig more

57:37

an asset that’s undervalued in five

57:39

years or being over you know ten

57:42

thousand dollars up on your investments

57:44

in five years yeah so

57:46

that’s the big difference that that can

57:48

make a a royal difference in in in the

57:51

long term it depends on the woman

57:54

right that’s true too yeah

57:57

that’s very good if you don’t got a rock

57:58

solid woman by your side it’s going to

58:00

be really difficult to be successful

58:02

yeah yeah man yeah yeah first off

58:06

i just want to say

58:07

i love the conversation yeah i love

58:10

where it’s gone yeah i love that

58:13

basically it

58:14

this has gone if you start your business

58:16

and you have money this this is taking

58:18

you to the next level and we talk about

58:20

this we haven’t talked about it a lot on

58:22

the show but we’ve

58:24

we talked about it a lot off air yeah

58:26

about hey

58:27

look if you’re a young man young woman

58:30

whatever

58:31

and listen i don’t want to say young if

58:33

you’re 40 and you haven’t been investing

58:36

this is not a small business you need to

58:38

get into investing

58:40

whether if you don’t own a home

58:43

the most safe investment you can make is

58:46

owning a home

58:47

okay

58:48

if you’re going to be there for more

58:50

than

58:50

seven years

58:52

six years well i don’t know i mean

58:54

you’re going to get your money out

58:56

you’re gonna have to be in there for a

58:56

while you’re gonna get your money back

58:58

no matter what so we i can’t remember

59:01

what great uh investors said the return

59:04

of my money

59:05

is more important than the return on my

59:08

money

59:09

i think that was it wasn’t

59:11

it might even buff it i can’t remember

59:13

but

59:15

the number one safe investment is your

59:16

home after that

59:19

you know long-term investments like

59:21

you know 401k and mitch

59:23

how many times have we talked about it

59:26

if your guys don’t have freaking 401k

59:29

by they will have it by their one

59:36

three months if they don’t have it in

59:38

three months

59:39

i’m gonna destroy you on this show they

59:41

they won’t have it

59:42

by their one year of employment okay

59:43

guaranteed so there’s like two sides to

59:46

it i don’t want to add to that don’t

59:47

defend mitch i’m trying to get his guys

59:48

retirement no i got you i got you

59:51

i’ve got a guy that could set up your

59:52

guys in a foreign i got a guy he’s got

59:55

three guys i’ve been giving him phone

59:56

numbers for a month and a half okay guys

59:58

lay off of me i got you back man yes

60:00

because he wants retirement

60:04

i mean he’s not stupid dude i’ve taught

60:06

him a little a little bit you know there

60:08

we go

60:09

i mean the house in our industry i mean

60:11

it’s considered forced savings so in

60:13

america i mean there’s a lot of people

60:15

that eighty percent i believe i don’t

60:17

know i haven’t checked in a minute but

60:20

eighty percent of americans don’t have a

60:21

thousand dollars right to their name

60:23

which is insanity to me that is

60:25

but it’s very rich you said eighty oh

60:27

yeah yeah insanity i don’t want a

60:29

stereotype when you think that you don’t

60:31

have money

60:32

look at what are your friends like four

60:34

of your friends if you just google hey

60:36

who has what what are the average

60:37

savings in a 401k what are the average

60:40

savings of retirement what are the

60:41

average savings in a checking account

60:43

then then you’re having you’re i mean

60:46

right the realism sets in well and

60:49

yeah you can walk around anywhere in in

60:51

some legit man

60:53

quasi public place and you can start to

60:55

identify again without making judgments

60:57

on people you can start to identify that

60:59

that you’re probably better off than

61:01

most of americans no matter where you’re

61:02

at yes so i don’t know if i say that

61:05

okay so when i go out okay i drive a

61:08

2012 red truck yeah that when i get out

61:10

i’m wearing usually ratty jeans yeah and

61:13

a carhartt shirt but he’s loaded

61:15

and

61:17

yeah but you can tell by a person

61:19

we have we have done great that’s what

61:21

i’m saying it’s not about judging people

61:23

it’s about their actions and how they

61:24

carry their self and no let me finish so

61:27

you know and then i look around and i

61:29

see someone that acts like they have

61:31

money

61:32

and that’s the real problem with america

61:34

is those people that are acting like

61:36

that money and they have that they don’t

61:37

have to live next freaking just man yeah

61:39

they don’t have five cents to their name

61:41

and it’s about personal responsibility

61:43

yeah and saying hey where am i just like

61:46

jeremy was saying

61:47

those people don’t have a thousand

61:48

dollars you know it’s funny instead of

61:50

trying to pretend like you have money

61:52

and i don’t want to turn this into a

61:54

financial show even though i’ve tried 50

61:56

times with mitch off air about making it

61:58

about finance

62:00

personal responsibility

62:03

is another

62:04

aspect of having your own company yeah

62:06

if you can’t

62:08

if you don’t have personal

62:09

responsibility you can’t run your own

62:11

company it’s definitely you can’t be

62:12

successful step one exactly step one you

62:15

can’t be successful and then if you

62:16

wanna and then you can’t hire employees

62:19

yeah and you can’t make it through the

62:20

steps and you cannot grow to be

62:22

something bigger than yourself yeah okay

62:25

so if you’re seriously thinking about

62:27

being successful having employees doing

62:30

all those things

62:31

you have to

62:33

look at yourself in the mirror and say

62:35

just like mitch said the personal

62:37

finance prep episode one if if you can’t

62:40

do those things

62:42

i shouldn’t say if you can’t do those

62:43

things i i want to say you have to do

62:46

those things in order to be

62:49

uh successful yeah dude here’s a can i

62:52

add to that of course you can jeremy

62:54

man no i got you man j-dog j-dog um i

62:58

don’t have my nickname yet no one’s come

63:00

up with it you know what i shouldn’t

63:01

have said that because now i feel like

63:03

i’m gonna have a really shitty nickname

63:04

target

63:05

i got a target on your back for that

63:08

anyway go ahead jeremy no man like it’s

63:10

very real if you cannot manage a hundred

63:13

dollars or ten thousand dollars let’s

63:14

say you can’t manage a million dollars

63:17

exactly and

63:19

i’d like to refer to this but

63:21

jay-z there’s a line that says i’m not a

63:24

businessman i am a business

63:26

man right yeah

63:28

he is

63:31

[Laughter]

63:33

so like think of it this way

63:36

um this is what i recommend a lot of my

63:40

friends who are either self-employed or

63:43

business owners

63:44

i do this myself every morning i open

63:47

before i open facebook before i open

63:49

whatever

63:50

i open my banking app

63:53

because you cannot operate

63:55

on a negative cash flow right i mean i

63:57

guess you can leverage right that’s

63:59

technically negative

64:01

but

64:02

if you check your bank account and it’s

64:05

not where you want it to be you need to

64:06

be pissed off and you need to work your

64:07

ass off that’s disgusting you need to be

64:09

disgusted you’re like what the [ __ ] i’ve

64:11

been hustling all this time and i have

64:13

five dollars yeah

64:15

right and the thing is what you need to

64:17

do

64:17

if you are in that place it’s not

64:19

hopeless right so what you want to do is

64:22

you want to say

64:23

i am jdog llc i am mitch llc right yeah

64:28

and you need to run your own

64:31

like if if

64:32

if you hire someone

64:35

like yourself as if you are the one

64:37

managing your money would you fire them

64:38

or would you keep them right

64:40

right right if you are thinking like wow

64:42

the person managing my money [ __ ]

64:44

sucks fire them

64:46

you need to look in the mirror and say

64:48

[ __ ] i need to change you’re fired yeah

64:50

you’re fired right

64:51

never you ever hear a crackhead say well

64:53

i need crack but i don’t have the money

64:55

so i guess i’m just not going to have

64:56

crack this day no they’re going to go

64:58

out late yeah crackhead will i’ll hustle

65:00

you any day of the week yeah finish that

65:01

i thought you were by any means

65:03

that’s a great thought dude that is a

65:05

really good so that’s what you want to

65:06

do is like we’re trying to end the show

65:08

on that that is i mean that is great

65:10

tying it back

65:12

to like self-employment like one of the

65:14

most difficult things i think is like

65:16

one of the largest struggle besides the

65:18

paperwork i mean i kind of dodged that

65:20

because i am with an employer

65:23

is your money

65:24

like creating it’s not even just

65:27

building up the savings it’s the mindset

65:30

because if you don’t have the mindset

65:31

and you work your ass off to save ten

65:34

thousand dollars or let’s say five

65:36

thousand dollars

65:37

and you get to live off of the five

65:39

thousand dollars because you minimize

65:41

your expenses and i can say oh i can

65:44

live on five grand for two months

65:46

because i’ve minimized everything

65:48

dude if you don’t have the mindset of

65:51

managing your money properly that five

65:53

grand will you’ll blow through it in

65:55

like two days yeah yeah yeah i well it’s

65:57

i can blow that in an hour i couldn’t

66:00

i mean you can’t say it any better than

66:01

that right that’s the millionaire

66:03

mindset that we talk about all the time

66:05

yeah you have to be saving that money

66:07

you have to be moving forward you have

66:09

to make that sacrifice yeah just like he

66:12

said you it’s just like we talked about

66:13

i have that goal just like we talked

66:15

about in episode seven with the

66:16

community involvement work if the habits

66:18

to be there when you’re big the habit

66:20

has to be there when you’re small it’s

66:21

the same with managing your money if you

66:23

can’t manage a hundred dollars you’re

66:24

not gonna be able to manage a thousand

66:26

ten thousand million i think yeah yeah

66:27

money and this isn’t this isn’t a money

66:29

management show it’s a business

66:32

management so it’s getting your mindset

66:33

in the right position but jeremy has

66:34

said it 100 correctly if you can’t

66:38

manage that and like we talked about in

66:40

the preparation step number one

66:43

i mean if you can’t manage it

66:46

it’s not going to work so in the you

66:48

have to take that first step

66:51

literally

66:52

and learn to manage your money if this

66:55

is really something you want to do

66:58

correct one of the biggest problems that

67:00

people have when it start when they

67:01

start thinking conceptually about

67:03

managing larger amounts of money

67:06

people forget that there’s this big gap

67:08

right people think oh million or even

67:11

million is almost like on social media

67:13

especially if a guy is a million dollars

67:14

he’s still not all that cool right like

67:17

they’re wanting tens of millions or or

67:19

even more right

67:21

gary vaynerchuk i i just saw a real

67:24

facebook reel or text 400 000 yeah the

67:27

the top one percent of earners in the

67:30

united states make four hundred and

67:31

fifty thousand dollars a year yep yeah

67:33

and we we don’t even notice them like we

67:36

don’t even recognize them as being

67:37

[ __ ] suck and you know what those

67:39

people are doing they’re taking their

67:40

yacht to [ __ ] italy right and they’re

67:42

[ __ ] cr you know

67:43

but cruising but they’re gonna live in

67:45

the high life what i’m getting at with

67:46

that is is for all of our listeners out

67:49

there they keep thinking well if i had a

67:51

million i’d be more responsible with it

67:53

well the top one percent in america are

67:56

earning 450 and up yeah it’s not a

67:58

million dollar topic that you need to

68:00

not worry about until you’re a

68:01

millionaire you and your wife that’s a

68:03

thousand dollar topic if you if you and

68:05

your wife are making 200

68:07

you’re doing pretty good pat yourself on

68:09

the back take your [ __ ] wife out and

68:11

say thank you yeah and keep being smart

68:13

with your money and don’t don’t be

68:15

making 200 acting like you’re making

68:16

five yeah if you do it for one year

68:19

don’t celebrate keep after it right you

68:21

know what i mean look to the future like

68:23

the millionaire mindset yeah he just

68:25

explained it better than probably we

68:27

freaking have explained it right i mean

68:29

just keep after it

68:31

and he’s never even heard of the german

68:32

millionaire mindset yet yeah and and if

68:34

you and your wife listen

68:37

and i want to say why if i want to say

68:38

partner i mean i want to be pc he’s 20

68:40

22. you know it’s 20 22. if you guys are

68:43

making 150k a year and you’re doing that

68:46

for three years four years five years

68:48

don’t go on stupid freaking tick tock or

68:52

facebook and say oh

68:53

we’re not making 800 we’re not making

68:56

750 right those are unrealistic numbers

69:00

can i say something about that proud of

69:02

yourself in two seconds you can’t i got

69:04

you be proud of yourself and say hey

69:07

we’re moving forward

69:08

we are together we are doing this right

69:11

okay we are

69:13

if you’re making 150 and there’s two of

69:15

you together you are successful yeah

69:17

okay

69:19

that’s it step nine evaluate performance

69:21

make adjustments and improve not that’s

69:24

not evaluate performance make

69:25

adjustments and double yeah improve

69:28

steps in the right direction

69:30

you don’t have to yeah if you’re making

69:31

150 and then the two of you get together

69:34

and

69:35

and the next year you make 150 and 25

69:38

dollars

69:39

you’ve moved up right not only have you

69:41

moved up if you’ve got employees you’ve

69:43

paid for them to move up right okay i

69:46

mean you were gonna i’m sorry

69:48

go ahead oh there’s two sides to it so

69:50

the 450 000 makes you like one percent

69:53

right the average household income in

69:55

america is like 52. yeah 52k yeah

69:58

household yeah it’s super low household

70:00

right household yeah that could be like

70:01

two people i mean marcus makes that when

70:03

he goes to the bathroom oh i bet yeah

70:05

you know he’s like he is pimping right

70:07

now videography extraordinary yeah yeah

70:10

um i appreciate it i appreciate you

70:12

telling me my my work’s nice yeah bro

70:13

that’s cool i saw that ad it’s

70:16

um

70:17

and so you’ve got these kids that are

70:20

graduating college or let’s say let’s

70:22

just say not even that

70:23

entering the trade

70:25

right kind of going back to all that

70:28

what is like a apprentice what is a

70:31

electrical i i don’t know i i will give

70:34

i will give a great example um

70:37

janine and i

70:38

have been

70:39

we’re 40 we’ve been we got married when

70:41

we were 22. neither one of us went to

70:43

college

70:44

neither one of us went to college and we

70:46

make eight

70:48

i’m not gonna i’m not gonna say we bang

70:50

you do very well for 40 year olds we do

70:52

very very well for 40 year olds and

70:54

neither one of us went to college don’t

70:55

think you have to go to college right

70:57

yeah right okay

70:59

if you

71:00

i’m gonna use mark as an example okay

71:04

marcus makes good money okay

71:06

did you go to college i didn’t no he

71:08

didn’t you know why because he works

71:10

hard right okay mitch you go to college

71:13

i did two semesters at college yeah so

71:15

he did nothing at college he got

71:16

freaking drunk

71:18

and hit on chicks that’s what mitch did

71:20

it came out that’s what you do in

71:21

college okay that’s that’s what mitch

71:23

did he did

71:24

it’s k-state what else is there to do at

71:26

k-state oh besides get [ __ ] up nothing

71:29

gets drunk

71:30

that’s the only memory i have of

71:32

manhattan yeah and that’s the only time

71:33

i went to k-state as well no it was one

71:35

time i visited

71:37

yeah

71:37

people have been to aggieville yeah a

71:39

lot of people go i’ve been twice yeah

71:40

and i got drunk and lord i woke up on

71:42

mitch’s floor with a cheetos stuck to my

71:44

face and we had to go back at like four

71:46

a.m and then we had to go back but my

71:49

point is just like jeremy was saying

71:52

hard work hard work will immediately put

71:55

you above the bottom or the average

71:57

income hard work and determination is

72:00

what

72:01

um determines your outcome yeah okay

72:04

i don’t care if you were homeless i

72:07

don’t care if you came from a family

72:08

with money i don’t care if you no matter

72:11

what happens if you work hard and you’re

72:13

dedicated

72:15

you will be successful in this country

72:18

fun fact i was actually homeless in

72:19

2017. and look at you now 2017. yeah

72:23

yeah

72:25

like

72:26

like six months old

72:28

and look and jeremy

72:30

is successful

72:31

trying to be super proud man i love it

72:33

man i love jeremy on the show [ __ ]

72:36

goddamn jeremy let’s go i’ll post yeah

72:38

i’ll post this on our uh

72:41

on our void facebook page tonight

72:44

you can beat 50 of the competition

72:46

simply by showing up and working hard

72:50

you can beat the next 40

72:53

simply by doing things with urgency and

72:55

detail

72:57

the last 10 percent is simply a dog

72:58

fight so you can feed you can beat 90

73:01

percent of the competition by showing up

73:04

working hard

73:06

and doing things with urgency and detail

73:08

right there puts you above 90

73:09

entrepreneurs here that’s listening to

73:11

this or future entrepreneurs listening

73:13

to the show

73:15

if you just pick up the phone

73:18

and

73:19

learn how to tell a joke

73:22

if you pick up the phone when it rings

73:23

be a pleasant person you know bring

73:25

happiness don’t be a debbie downer

73:28

nobody likes to be around those people

73:29

and learn how to tell a joke you will be

73:32

successful than most people yeah and

73:34

when you’re talking about how you know

73:35

hard work

73:37

i must add smart work so

73:40

i can tell you right now that i don’t

73:42

work harder than those people that dig

73:44

ditches

73:46

say it again

73:47

i i don’t work any harder i don’t work

73:50

hard at all compared to the people

73:51

digging ditches with their

73:53

you know with their hand right right

73:56

right that’s hard work that’s hard it’s

73:57

very hard work but the what i’m doing is

74:01

but hard work at your position

74:03

there you go you know what i mean you’re

74:05

now working in the lane you’re out

74:06

working that’s right yeah he’s out

74:08

working the other people in his lane

74:10

yeah and when we say hard work that’s a

74:12

great way to put it yeah you know hey

74:13

the other sons of [ __ ] that are in

74:15

your lane outwork them yeah yeah and you

74:18

can make it what you want to do is

74:21

really really focus on your craft so

74:24

here’s the thing that

74:27

that can bring value to the listeners

74:29

who are probably thinking about a

74:31

business idea

74:32

think of one thing that you’re good at

74:35

and master it before touching or

74:37

considering anything else

74:39

so i am a good example of this okay i

74:43

want to do investments i want to do

74:45

mortgages i started a marketing company

74:49

during the pandemics so i bought like a

74:51

whole gimbal setup and all that and i

74:53

thought i was going to be a real estate

74:54

photographer um

74:57

i was going to do careful marcus yeah i

74:59

was going to get your replacement right

75:01

over here

75:03

i’m going to host a training thing

75:05

oh yeah that’d be awesome

75:08

i thought i was gonna be this mobile

75:10

detailer that’s gonna build this empire

75:12

holy [ __ ] i’ve i’ve invested so much

75:14

into

75:15

different equipment you know i’d say

75:18

two grand and mobile detailing stuff

75:20

and another let’s say a thousand dollars

75:22

on videography and photography equipment

75:24

which is very cheap

75:26

um but had i invested at three thousand

75:29

dollars that i spent on those things on

75:31

getting some sort of training there is a

75:33

training yeah um

75:35

that cost like fifteen hundred bucks for

75:37

mortgage loan originators yeah right

75:39

dude i could have

75:41

i mean 1500 bucks i mean you could

75:43

easily make that with one loan right

75:44

yeah but that three thousand dollars i

75:46

could have easily probably turned it

75:47

like 50k yeah in one year because best

75:51

investments always in yourself yeah and

75:52

this just like talked about that

75:54

you have to really evaluate what you’re

75:57

good at and like

75:58

i was listening to a guy on youtube

76:01

which is funny because i’m listening to

76:02

this guy that is roofing

76:05

um focused channel what the hell is a

76:07

loan officer listening to a roofing

76:09

video right right it’s always something

76:11

to learn well this guy is like

76:14

on your

76:15

business name which you know if you’re

76:16

coming up with a company

76:18

don’t say

76:20

roofing and exteriors

76:23

because if you’re doing seo on google

76:25

this is kind of like getting in the

76:26

weeds but

76:28

um

76:29

when you are typing and when you’re a

76:31

consumer

76:33

my roof just got destroyed by hail right

76:37

i’m not looking for

76:39

roofing and exteriors looking for hell

76:41

damage repair yeah looking for a roofing

76:43

company right and so if you are so

76:46

spread thin you’re going to be [ __ ] at

76:49

everything

76:50

yeah

76:51

good at nothing yeah right there’s real

76:53

truth there’s real you know and now

76:55

especially in the construction industry

76:56

yeah and because like oh man um i just

76:59

fixed the roof but the ladies asked me

77:02

to paint her kitchen easy enough i can

77:04

make two grand yeah but now nobody knows

77:07

to contact you for roof yeah they’re

77:09

gonna contact you as a handyman and

77:11

you’re gonna get paid significantly less

77:14

so when you are

77:17

going off on your own becoming a you

77:18

know self-employed or entrepreneur

77:20

stay in your [ __ ] lane yeah i love it

77:23

yeah

77:24

yeah we do the same thing in our you

77:26

know we have a focus in in the plumbing

77:28

area that we focus on and literally just

77:31

today we were getting emails about

77:32

wanting to get signed up to do a

77:34

slightly different branch of plumbing

77:35

and we’re like no

77:36

like we’re crazy busy doing what we do

77:39

yeah there’s a lot of money on the table

77:41

over there we could do that but that’s

77:43

not in our wheelhouse there’s there’s

77:45

massive contractual stuff and everything

77:47

associated with the other thing and it’s

77:48

it’s not our forte so we just politely

77:52

passed up you could end up building a

77:53

house chasing every little job oh yeah

77:56

yeah damn yeah easy so

77:59

um we uh we got to be kind of wrapping

78:01

things up here but uh rapid fire rapid

78:03

fire yeah uh well what was the what’s

78:06

the one topic we haven’t hit yet

78:08

uh biggest fear i think oh i mean we

78:10

could talk about that um

78:12

if you are starting out in two yeah two

78:14

minutes

78:15

what is the biggest fear running out of

78:17

money after you’ve started is that is

78:19

that your biggest fear that was one of

78:21

the biggest fears yeah because you’re

78:23

now no now that you’ve established now

78:25

that you’ve you’ve got a little bank and

78:27

okay let’s say you

78:29

um you have the money

78:31

um to get past

78:33

you know easy feats

78:34

what is the biggest fear you have

78:37

um moving forward with the growth of

78:40

your company

78:41

oh the biggest fear is always automation

78:44

okay

78:45

robots automation um

78:49

you’re talking the the automation

78:51

industry replacing jobs yeah not just my

78:54

job but like pretty much a lot of

78:56

different things yeah i mean they’re

78:57

automating burger flipping now i mean

78:59

yeah did you see that y castle yeah yeah

79:01

burger flippers and fries yeah i did so

79:04

like and you’re saying that’s your

79:05

biggest fear oh yeah because you know i

79:08

don’t know how long well being a loan

79:09

officer is going to be well yeah i mean

79:10

think about it like

79:11

you used to have to go to a car smart

79:13

car yeah and now you can literally a

79:15

couple clicks online and they’d drop it

79:17

off at your door and pick up yeah like

79:18

covet help with that and he doesn’t mean

79:20

burger flippers he means the computer

79:21

just doing his job yeah

79:23

and automated home loans yeah automated

79:25

homes

79:26

they’re already out there oh there is

79:28

but here’s the thing here’s the point i

79:29

was trying to make on that is you should

79:31

start f and one up once in a while just

79:33

to be like hey you guys can’t you know

79:35

you can’t see this coming just oh yeah

79:37

you know no that’s exactly the point i

79:38

was gonna make is yeah my biggest fear

79:40

is like automation but there’s always

79:43

become irreplaceable right what i mean

79:46

is there’s no robot that can replace a

79:48

relationship of two humans yeah yeah and

79:51

especially like for our generation

79:53

unless you’re like a freaking yeah you

79:54

have connection with like your i hate

79:57

i hate

79:58

if anything is automated like this if we

80:01

could go back to flip phones dude

80:03

phlones did i say phlones if we could go

80:05

back to flip phones i would i’d throw

80:08

this son of a [ __ ] out in the truck i

80:09

tried to swing by walmart to get some

80:11

more sparkling water

80:12

all of the self-checkout lanes there i

80:15

identify the one with a real person in

80:16

it yeah i never gonna wait two or three

80:18

times longer because i’m dealing with a

80:20

person

80:20

i never i never go to self-checkout are

80:22

you serious yeah i know why i look for

80:24

self-checkers they need to give me a

80:26

discount because i’m working there

80:27

martial checking my own ass out marcus

80:29

you know marcus don’t go there why

80:31

because you’re trying to save the jobs

80:33

for because people need jobs man and

80:35

listen there’s not okay there’s there’s

80:38

not an infinite amount of mitch’s or

80:40

jeremies okay

80:42

there are people that

80:44

man this is to sound awful there are

80:45

people that can’t do those jobs yeah

80:47

they don’t have them yeah they don’t

80:49

have the mental capacity there are

80:51

people guess what they should be doing

80:53

they should be checking people out right

80:54

and they should be getting money okay

80:56

and

80:57

and this whole freaking government push

80:59

of oh we’ll just pay those people we’ll

81:01

give them social security or we’ll do

81:03

you know do whatever

81:04

that’s not the right move that doesn’t

81:06

help them and that doesn’t help us okay

81:09

if you sit at home and collect a check

81:11

you’re not happy yeah no matter what

81:13

you’re not you’re happy being a

81:15

productivity you’re not if you’re not

81:17

productive

81:18

man we have all these [ __ ] side

81:20

tangents all the time

81:22

if you’re not productive you’re not

81:24

happy yeah that’s right that’s just

81:26

that’s mankind that’s not that’s not

81:28

black people yeah that’s not white

81:30

people

81:31

jeremy that’s people he’s like this this

81:34

guy’s mexican noah yeah

81:36

jeremy

81:38

he’s a mexicano no no let’s let jeremy

81:41

what did you tell me your heritage was

81:42

we talked about it before and i forgot

81:44

i’m sorry oh my great grandparents are

81:45

from spain spain he is spanish okay but

81:48

i’m filipino but he’s filipino with a

81:50

mexican last name the computers don’t

81:52

give a [ __ ] okay it doesn’t matter

81:54

okay

81:56

give from the the self checkouts get

81:58

from everything

81:59

nothing matters jeremy hit the nail on

82:01

the head we have to help each other and

82:04

we have to all be engaged no matter our

82:07

mental capacity whether we’re checking

82:09

out groceries whether we are

82:12

shoveling poop

82:13

whether we are fixing heating and air

82:15

whether we are making a home loan it

82:16

doesn’t matter you have to be part of

82:18

society to be happy yeah jeremy hit the

82:21

nail on the head those are the things

82:22

that drive me insane human human

82:24

relations you can never give up human

82:27

human to human relations you know what’s

82:29

funny about this so that’s why podcasts

82:31

are so popular i think yeah yeah yeah

82:32

you know what’s funny about that that

82:34

the relationship thing you can’t really

82:36

replace it so we’ve gone so far into

82:40

like in business right we’re always

82:42

trying to automate things like the text

82:43

messages follow-ups right right you know

82:46

what is a good differentiating factor if

82:48

you’re a business owner

82:50

give it to me man

82:51

dude what business are you in

82:54

um heating and air it does help so i did

82:56

i did heating and air and plumbing okay

82:58

and now i do woodworking got it got it

83:01

that explains the ring yeah

83:04

got it okay for whoever’s listening hey

83:06

check out this bowl i made it’s nice

83:08

right

83:09

sick it’s my first epoxy bowl anything

83:11

that you need yeah you see that bowl

83:12

that’s why it’s gonna get replaced by

83:14

robots because look at that bowl

83:16

this is my first one

83:18

first off it’s an epoxy bowl it’s a

83:20

little rough i mean it is

83:22

this was my first one but i wanted that

83:24

ring i wanted to bring it to the set

83:26

you know and and i’ve been thinking

83:28

about the problem with woodworking is

83:29

the profit margins are [ __ ] yeah and

83:31

they always have been yeah but marcus

83:33

the other day was like hey could you get

83:35

into making charcuterie could you make

83:36

me a wood oh yeah ten dollars for twelve

83:39

dollars worth of wood yeah i was real

83:40

smart right

83:42

marcus asked me said hey could you make

83:43

me a wood ring and i was like oh [ __ ] i

83:45

don’t know

83:46

i mean i got a lathe so i made one today

83:49

and i brought it legit yeah he loves it

83:51

yeah just a tad bit too but we’re

83:53

working on it we’re working on it it’s a

83:55

little bigger i’ve never freaking made

83:56

one i was like hey try this on he’s like

83:57

yeah you know when i tell you legit i

84:00

want to do like a review on yelp or

84:01

something but like

84:03

but that’s the thing so you were talking

84:05

human relations yeah and that’s what and

84:07

that’s what we’re talking about here the

84:08

differentiate the differentiating

84:10

derivative differentiating yeah you’re

84:12

not even we’ve been drinking i don’t

84:14

know what you’re doing over here no i’m

84:15

blowing glass

84:16

[Laughter]

84:21

mr mercado ladies and gentlemen

84:24

um the differentiating factor after all

84:26

this automation stuff is

84:28

calling your clients you know what’s

84:30

funny one of my buddies he owns a

84:33

trash company it’s called junkoms okay

84:36

it’s not like a dumpster company anyways

84:38

is it here it’s in uh pleasant hill i

84:40

think i think i’ve heard of it yeah

84:42

j-u-n-k apostrophe ems yeah yeah i’ve

84:46

seen it it’s like purple

84:47

yeah yeah yeah so the thing about it is

84:50

um

84:51

he’s a business owner he’s busy and we

84:53

got facebook now it’s you’re gonna get

84:55

reminded hey it’s your buddy’s birthday

84:56

we should get him on the show call

84:58

that’d be pretty cool oh yeah

85:00

yeah his name’s chad

85:02

we’ll get some more schools

85:05

um

85:06

i think so he’s he’s okay yeah he’s cool

85:09

um i wouldn’t be hanging out with him

85:11

right right

85:12

right um

85:15

but when i called him it was his

85:17

birthday

85:18

i called him instead of leaving a happy

85:20

birthday on facebook right

85:22

me and missed you and you know what

85:24

you know what he hasn’t sent me a

85:26

referral but here’s the thing

85:29

here here’s the thing listen up junkums

85:31

yeah mercado’s waiting on that referral

85:33

that’s right i need it

85:34

um but here’s the thing

85:36

after i caught up i was like hey man

85:38

how’s it going it turned into like a

85:39

15-minute phone call instead of like hey

85:41

man happy birthday click yeah

85:43

yeah he invited me to come over to his

85:45

uh

85:46

his crib on pleasant hill i believe i

85:49

think it’s in pleasant hill

85:51

but

85:52

now we’re gonna get caught up yeah let

85:53

me just i’m gonna see his kids that are

85:55

all grown up now yeah and now he’s like

85:57

[ __ ] dude i don’t know any other

85:58

mortgage lenders

86:00

you’re my guy right right so

86:04

you’re literally mitch you’re the only

86:05

guy that i know that owns employment

86:07

company because it’s hard for me to

86:08

refer people that

86:10

works for somebody right because like

86:11

they could quit and they’re like all

86:12

right i don’t have a guy anymore right

86:14

but if you run the business i’m like you

86:16

know what i want to get get with the

86:17

head because if you’re busy you got

86:18

somebody else that could take care of it

86:20

right yeah um well and we keep that

86:22

personal touch in our company too

86:24

there’s a lot of cr you know in previous

86:25

episodes we’ve talked about crms and and

86:28

stuff like that there’s a lot of

86:29

software’s out there that will automate

86:30

a lot of what we do and we specifically

86:33

choose not to do those because when

86:35

people call in they don’t want to talk

86:37

to some customer service rep that has no

86:40

clue what to do other than book a

86:42

service call hi press one yeah

86:45

and there’s a lot of plumbing companies

86:46

out there that outsource to it like some

86:49

rando call center that they don’t have

86:51

any clue what they’re doing and i think

86:53

it’s going to get to that eventually but

86:54

like right now in our day and age anyone

86:57

over 30 is it’s it’s not happening they

87:00

don’t like it i hate it i [ __ ] hate

87:02

it yeah yeah so that’s why like we’re

87:04

zeros we always say zero zero zero zero

87:07

zero you know trying to get just like

87:08

fashion just like fashion it all comes

87:11

back to circle yeah we always answer our

87:13

phones with a real person and we will

87:15

we’ll keep that personal engagement

87:17

through the entire process yeah and

87:19

that’s what you know that’s another

87:21

point whether it’s a plumber or loan

87:23

officer right it’s like dude i’m gonna

87:25

pick up the phone yeah i literally tell

87:27

people like oh what’s your working hours

87:29

[ __ ] 24 7. as long as like don’t blow

87:31

up my phone at two

87:33

my girlfriend’s gonna be like wow yeah

87:34

right

87:36

if i don’t answer leave a message i’ll

87:38

call you or shoot me a text and the

87:40

thing is like like i said it all comes

87:42

full circle right fashion or whatever

87:44

one of the things i bought my girlfriend

87:45

for valentine’s day it’s like a polaroid

87:49

one of those old-school polaroids

87:50

yeah they started remaking them yeah

87:52

yeah i bought my daughter one so it

87:54

comes of course you so here’s the thing

87:56

of course you did you know the human

87:57

interaction we have instagram why the

87:58

hell do we need a polaroid right right

88:00

people want the human interaction

88:02

because

88:03

i think it’s going to come back to that

88:04

too yep and it’s the physical

88:06

thing yeah right right yeah i have 10

88:08

000 photos in my photo album and in my

88:10

phone never look but you know what’s

88:11

cooler that one’s on your dash ain’t it

88:14

that one’s on your dashboard isn’t it

88:15

yeah my daughter’s is on my dashboard i

88:17

mean i know i mean i i know exactly what

88:20

he’s saying yeah the picture the picture

88:23

what is it called advisor

88:25

you know like

88:27

plays competitive soccer and the

88:29

pictures of her

88:30

you know and and then when she’s little

88:33

you know on my dash right yep

88:35

yeah i

88:36

almost get emotional there you know

88:38

those are more important to me than

88:39

anything in the whole [ __ ] world yeah

88:40

you can’t replace emotional in in real

88:42

life interactions you can’t with digital

88:44

that will that will exponentially

88:47

blow up your business yeah yeah honestly

88:49

yeah staying staying human human

88:51

interaction will

88:52

ignite it stay in power

88:54

so because

88:56

you good day

88:57

yeah no i’m good yeah i’m good i mean i

89:00

just thought yeah allergies

89:02

yeah allergies no i’m not no first off

89:04

i’m not an allergy guy i don’t care

89:06

i cry i cried a bit you all do first off

89:09

i cried at mitch’s wedding

89:10

okay mitch and i’ve been friends forever

89:12

that’s a story for another day i cried

89:13

at my own wedding okay i’ve got a

89:15

nine-year-old daughter she plays

89:16

competitive soccer i love her more than

89:18

[ __ ] life it’s so awesome and when i

89:20

think about you know my close friends

89:22

like mitch you know it makes me think

89:24

about those things yeah and that’s what

89:25

we’re talking about when we talk about

89:26

interaction yeah social interaction

89:29

business interaction

89:30

those things are more important now

89:33

than they’ve ever been i think i feel

89:35

like you know we are the most

89:38

unconnected connected

89:40

people yeah in history

89:42

and i think you know like mitch and i

89:44

are you know we were growing up we were

89:46

generation x and now they’ve tried to

89:48

label us as millennials

89:50

and i don’t know if labels are anything

89:52

but we’re a hybrid millennial we’re

89:54

we’re hybrids you know i always

89:56

considered myself generation x but

89:58

millennials are are

90:00

definitely

90:01

you know all on the phone all the time

90:03

you know i feel like

90:04

you know we are always

90:06

i always reach back to

90:09

you know

90:10

photos and interactions and memories and

90:13

those things and i think that

90:15

here in the next few years those things

90:17

will really start to turn and people

90:20

will start to realize oh [ __ ] you know

90:22

what we have got to get back

90:25

to that style of life yeah that style of

90:28

family that style of everything because

90:30

if we don’t we’re going to be in some

90:32

really deep [ __ ] check this out

90:35

so

90:36

i know we’re wrapping up on time but

90:38

yeah we are we’re getting long we’re

90:39

getting we’re getting a little long we

90:40

gotta yeah we got a few more minutes now

90:42

it’s gonna be one hell of a podcast but

90:44

yeah

90:45

cause i’m here dog in the house

90:49

but the thing is you know facebook you

90:51

can literally just say hey look i’m open

90:53

for business like check it out

90:55

yeah right who gives a [ __ ] yeah

90:56

nobody’s gonna watch that they’re

90:57

probably gonna like it you know like

90:59

five people are gonna like it it takes

91:00

me i can like it without reading it yeah

91:03

and the thing is like what that doesn’t

91:06

give you a call to action and be like oh

91:08

[ __ ] he opened a plumbing company let me

91:10

i need some help right

91:11

versus

91:12

going down your contact list this is

91:14

another strategy that you know somebody

91:16

can take and

91:18

blow up their business when they start

91:19

is

91:20

check your contact scroll all the way to

91:22

the bottom if you have like an iphone

91:24

it’ll say like

91:25

hundreds of content right yeah yeah

91:27

here’s what you do

91:29

you list it out and i’ve learned this

91:30

through when i was a financial planner

91:33

start listing people out and start

91:35

actively calling them they’re gonna be

91:37

like holy [ __ ] i haven’t talked to you

91:38

forever yeah even though building that

91:39

bridge back exactly even though you’ve

91:42

been friends with them on facebook and

91:43

they see your post every single day

91:44

they’re like exactly i haven’t hear

91:45

heard from you

91:47

even on like birthdays like yeah shout

91:48

out to them hey happy birthday exactly

91:50

happy anniversary bro different things

91:51

like that and just rebuilding that that

91:54

uh that relationship here is an awesome

91:56

trick that i’m gonna leave your audience

91:58

and please last trick here we go please

92:00

steal it we’re in and you could actually

92:02

like take this yep you know everybody

92:05

knows when people’s birthdays are on

92:07

facebook now yep so put it on your

92:09

calendar the day before

92:11

yep yeah

92:12

great idea yeah call them up a day

92:14

before they’re gonna be like holy [ __ ]

92:16

how did you know how did you remember i

92:17

wanted to get ahead of the storm i

92:18

wanted to call you before everyone did

92:20

you do this

92:22

yeah i’ve done that i’ve never done it

92:23

but i will say perfect earlier you were

92:26

talking about birthdays so all my

92:28

closest friends that i know deeply so

92:30

when i see it on facebook i call them on

92:33

my phone or i text them yeah i i don’t i

92:36

don’t do

92:37

[ __ ] facebook i don’t i don’t put it on

92:39

facebook and i have about 10 friends and

92:41

sometimes i miss them yeah you know

92:43

because i’m not a big facebook guy but

92:45

usually like mitch i i text or what did

92:47

i text you this year

92:49

because he was 40. i think i said it was

92:52

something completely inappropriate yeah

92:53

i was like hey happy happy birthday you

92:55

old [ __ ] yeah you know something like

92:57

that one step closer to your balls

92:58

touching the water when you sit down

93:00

yeah it was something like that and

93:02

and mitch texts me the same thing on my

93:03

birthday that’s awesome you know what i

93:05

mean but if you

93:07

um

93:08

and you don’t have to do it for

93:09

everybody but you know if you can make

93:12

those human connections and we have got

93:14

completely off of small business we are

93:16

no it’s we’re right on we’re exactly

93:18

where we need marketing we are we’re

93:28

bring people back to the way it used to

93:30

be that’s how it was it’s it’s not

93:32

bringing them back to the way it used to

93:33

be it’s bringing them back to the way

93:34

that it works and bringing them back to

93:36

the way that civilization civilization

93:38

functions on right

93:40

yeah functions normally yeah yeah we’re

93:42

not used to pressing one for the like

93:45

you may be used to it but it’s not

93:47

normal and you’re not comfortable doing

93:49

it so keeping that human to human

93:51

interaction yeah in that uh caring

93:54

interaction

93:56

is

93:56

key yeah what a phenomenal episode yeah

94:00

just to piggyback off what you’re saying

94:02

uh j-dog what’s i always say uh

94:04

i say that you’d be surprised how like

94:06

how much traffic you get off doing those

94:09

oh for sure oh yeah yeah it’ll it’ll

94:11

blow people up people people love human

94:14

to human interaction yeah so

94:16

guys that pretty much wraps up today’s

94:18

show with uh with jeremy uh remember if

94:20

you like what you’re hearing on the show

94:22

do us a favor and help share the void

94:24

with somebody else who might be wanting

94:25

to start their own company also no

94:28

matter what platform you’re listening on

94:29

whether it’s apple podcast or spotify or

94:32

youtube uh please do us a favor and do

94:35

it right now go to the show and give us

94:38

a five star review on that show

94:41

those really help get the show in front

94:43

of more people that need to see the show

94:46

so if you could do those two things for

94:48

us shoot us a review and shoot us a

94:49

referral we would we would really

94:51

appreciate it again we’re not making any

94:53

money on this show this is simply out of

94:55

the goodness of our heart because we

94:57

want to watch other people succeed at at

95:00

becoming the best that they can so uh

95:03

until next week guys uh we’ll uh we’ll

95:06

talk to you later one more thing thank

95:07

you mr jeremy and ricardo yeah of course

95:10

of course thank you for having me real

95:11

quick honored you’re great thank you do

95:13

you have any shameless plugs yeah yeah

95:15

if somebody’s you have a website

95:18

youtube

95:19

facebook come on dude you guys can add

95:21

me on facebook i don’t care there you go

95:24

jeremy mercado j-e-r-e-m-y

95:26

m-e-r-c-a

95:28

there it is jeremy mercado all right

95:31

thank you so much

95:32

i appreciate it thanks guys i appreciate

95:34

it no i really do thank you so much

95:36

all right we’ll see you later man love

95:38

you guys see you guys next week

The Void #12 – Private mortgage lending and other financial advice from Jeremy Mercado – Mar 5, 2022

Full Transcript

The Void #12 – Private mortgage lending and other financial advice from Jeremy Mercado – Mar 5, 2022

Full Transcript

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