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From Broke to Real Estate Moguls: The Polites' Unbelievable Journey 🏡✨ | SWAY'S UNIVERSE
Mar 15, 2024
Subscribe to Sway’s Universe for more exclusive interviews and behind-the-scenes magic with the biggest names in the game! Today, we dive deep into the incredible journey of Krystal and Dedric Polite, from being broke to becoming real estate moguls. In this heartwarming and enlightening conversation on Sway In The Morning, the Polites share their unbelievable journey, revealing how they flipped their fortunes and became the powerhouse couple behind the hit show 50/50 Flip. 🏡✨
From their first steps in real estate, driven by a legacy of ambition and resilience, to the launch of their successful show now in its second season on A&E and Hulu, their story is nothing short of inspirational. They break down the realities of investing, renovating, and flipping homes, offering viewers real estate investment tips that are gold mines for anyone looking to break into the industry.
This isn't just another interview; it's a masterclass in making dreams a reality, overcoming systemic barriers, and building generational wealth. Watch as the Polites discuss navigating the redlining challenges, their love story that rivals any business partnership, and their mission with Be Polite Properties.
Don't miss this blend of personal tales, professional advice, and heartfelt moments that define the essence of Sway’s Universe - where culture, passion, and drive meet. For more groundbreaking content like this, exploring topics from hip-hop to social change and gospel music, stay tuned to Sway’s Universe.
Connect with us on social media and our website for updates, exclusive content, and more. Let's redefine the narrative together. Watch now and let the Polites' journey inspire your next move!
#WealthAcademy #SellingHomes #InvestmentStrategies #KrystalPolite #BuyingHomes
CHAPTERS:
0:00 - Intro
2:45 - Polite's Journey: Business Beginnings
7:17 - Relationship Therapy: Strengthening Bonds
10:53 - 50/50 Flip Show: Real Estate Insights
12:04 - Love & Entrepreneurship: The Polite's Story
22:05 - Equity Management: Smart Investment Tips
23:34 - Land Investment Strategies: Maximizing Value
Show More Show Less View Video Transcript
0:00
our next guests are so important you
0:01
just heard the trailer for 50/50 flip
0:03
they got a new season citizens give them
0:05
a big round of
0:06
applause give them a big round of
0:08
applause we talked about this they
0:11
promoting that second season it's on A&E
0:13
and on Hulu let's go and what they do
0:16
with their show this first of all I want
0:18
to welcome them because when I watched
0:19
their show I felt like I was talking to
0:21
cousins and cousins were talking to me
0:24
and it was so timely and I want to
0:26
congratulate them these folks have uh
0:28
created a renov wealth academy uh they
0:32
have taught people the ins and outs
0:34
about buying homes renovating homes
0:36
selling homes how to do it without a
0:39
license all right how to save money how
0:41
to budget how to escape the the pit
0:44
traps when it comes to real estate my
0:46
first experience with real estate was an
0:48
inheritance I received he be yes from my
0:51
great auntie Lucy who um split her home
0:54
with my grandmother and I when I was a
0:56
young lad and I started learning about
0:58
mortgages and how to keep up a home at
1:01
that time oh yeah put people in that
1:03
home I was still a teenager at that time
1:05
we eventually sold that home the first
1:07
home I bought on my home was in 1995
1:10
I'mma take y'all way back 95 come on man
1:13
you better give a round of applause for
1:15
that
1:16
right 1995 Krystal I said it love it
1:20
King Tech my partner King Tech and I
1:22
bought a home shout out to King Tech
1:23
together and that's that same home
1:25
Heather that you visited TR came to that
1:28
home yep Tracy came that
1:31
home that's the first house we ever
1:33
bought that's the home that saved us in
1:35
many situations when our cash flow was
1:39
got skinny and some jobs we lost and we
1:43
didn't know we could take a second on
1:44
that home and put us ahead of the game
1:47
and pay off some bills and make some
1:49
Investments and paid that second back
1:50
and the credit shot up the gift that
1:53
kept giving huh kept giving I started
1:55
learning more about it I start
1:56
researching and learned about well why
1:58
more of us don't have homes it took us
2:00
back to what happened in the red lining
2:02
that was taking place um in the middle
2:04
Century where black folks weren't being
2:06
allowed mortgages they weren't they were
2:08
circling pieces of the map where they
2:10
would not give loans lend money to black
2:12
folks so they go own these properties
2:15
which has been a key essential component
2:17
to people establishing what we call
2:19
generational wealth so when I see these
2:22
two on the screen educating us with
2:25
their family and their amazing team that
2:27
look just like us MH and sitting and
2:30
going through the ins and outs of real
2:31
estate I said we got to have them on the
2:34
show I want citizens who want to learn
2:36
about real estate renovation or if you
2:38
know about it you want something to
2:40
offer I want you to call up now 888
2:43
74233 45 and let's please welcome the
2:46
polites Crystal and dedri are here give
2:48
a big round of applause welcome to the
2:50
show welcome to the show what's up y'all
2:53
welcome welcome welcome thanks for
2:55
having us we appreciate you all thank
2:57
you happy to have you it's an honor to
2:58
be here honor man
3:00
yes sir we've been watching you since
3:01
the '90s sway man since the 9s been
3:03
watching you been watching me since I
3:05
bought that house since 95 man we 80s
3:08
baby so I Bor in 81 so we've been
3:10
watching you for a long time so it's an
3:11
honor to be here I walked in I was like
3:13
is that Heather be that's me I'm here
3:16
sis how you doing oh my God so glad to
3:19
have y'all yo well it's good to have
3:21
y'all what's it like seeing the people
3:22
you watch in the person now here go
3:25
ahead touch my hand Crystal go ahead let
3:26
me go oh gosh go ahead that feel like
3:30
you feel that energy it's really cool
3:32
man we made it we made it come on y'all
3:34
made it the made it yo so let me let me
3:38
so you guys are from the Carolinas where
3:39
you from Crystal let me originally um D
3:42
and I are from Boston Mass okay so he's
3:45
originally he was born in uh Buford
3:48
South Carolina I was in where we're at
3:50
now Burlington North Carolina but both
3:52
of our parents moved to Boston our
3:54
mother's single parents in the'80s okay
3:57
so we grew up there we didn't move back
4:00
until 10 years ago when we decided to
4:03
start our family so we're both from um
4:06
up north you know I I partied heavy in
4:09
New York talk talk your Crystal I
4:11
think I saw you at
4:12
Marquee in the tunnel back in the 90s
4:16
okay tunel okay I see youel okay and so
4:20
you partied in New York and then you
4:22
guys then y'all met and what happened in
4:25
Boston and dri what you do man did you
4:27
approach her with an idea man we met at
4:29
a gas station on High Park AB in Boston
4:32
I gave her my business card and uh most
4:34
beautiful woman I ever saw and our first
4:37
date was like a business meeting right
4:38
first date uh you know she wasn't on
4:40
some bubble gum stuff she sat down sat
4:42
me down was like what's your three-year
4:44
plan what's your five fiveyear plan are
4:46
you an entrepreneur it wasn't like
4:48
what's your favorite meal what do you
4:49
like what's your favorite color she got
4:51
right to it and I was refreshing your
4:53
cred score ask this our first date
4:56
that's personal she got right to it and
4:58
uh I was like she's beautiful she also
5:00
had a head on her shoulders I was
5:01
looking for a queen I could build with
5:03
and uh we've been building an empire
5:04
ever since what was your credit for what
5:06
was it I was eight I was eight
5:08
something8
5:10
credit full full
5:13
transparency he was like well what's
5:15
yours right you know he's like d you
5:17
grilling me I said it's like a
5:19
540 oh so you was hold you was trying to
5:23
come up but what he did was he was like
5:25
well you asking me mine and yours I said
5:27
listen cuz I'm building mine
5:30
I got to know if I got to be rebuilding
5:32
yours as well I need to know ahead of
5:34
time so I know how to move it didn't
5:36
mean you didn't have a shot it just mean
5:39
okay let me see how I have to move cuz
5:40
if you at a 500 too okay now we got to
5:43
hold off for some things that's how it
5:45
is you know we both can't have bad
5:47
credit that's what she said that's rare
5:50
and amazing first wow damn that's crazy
5:54
sway would have ran the minute somebody
5:55
would have asked him his credit score he
5:56
would have been out you might have paid
5:58
might I might have been offended you
6:01
would like I don't want to be defined by
6:02
my credit score I felt objectified by
6:04
that question right you would have but
6:06
but I get it now now that I understand
6:08
it that's actually kind of I would
6:11
rather someone ask me now up front yeah
6:13
put on the table so you know how to move
6:15
because I asked him originally I said
6:17
are you an entrepreneur and he was like
6:19
yeah because I knew I could only be with
6:21
an entrepreneur I knew how my mind work
6:23
and I know if I set myself up with
6:25
someone who's just comfortable working
6:27
we're going to have friction because I
6:29
need someone to understand if I say Hey
6:31
listen let's go all in on this business
6:33
that's a half a million dollars you're
6:35
going to understand why I'm thinking
6:37
this way so when I asked him that I said
6:38
you know what's your credit score so I
6:40
know I'm rebuilding mind with a purpose
6:43
at this point I'm just out of college
6:45
thing you know how you get into college
6:46
get credit
6:48
card go crazy with that American Express
6:50
didn't know it was do at the end of the
6:52
month all of
6:53
it in full and he said 820 and it wasn't
6:57
because he would have never had an
6:58
opportunity with me is because I need to
7:00
know how we needed to move going forward
7:03
at that point so his court his it could
7:05
have been as low as yours and you would
7:06
have been cool with it i' have been cool
7:08
with she would have just moved at a
7:09
different pace there you go now I know
7:10
okay now we got to do credit repair I
7:12
just rebuilt mine got everything off now
7:14
I got to help you get yours to where we
7:17
need it to be also that's how my mindset
7:19
work that's a total like jua position or
7:23
dichotomy of the conversations that
7:25
we've been hearing on social media about
7:27
a guy having to take you to certain rest
7:31
on the first date that sort of yeah we
7:33
ain't doing that we went to Joe's
7:34
All-American Grill that's she was like
7:36
where's your mind at where's your head
7:37
at and I was asking her the same thing
7:39
so that's important I would imagine
7:41
before you decide to start a business
7:43
with each other just kind of find out
7:45
how your minds align right oh absolutely
7:47
that should be the very first
7:49
conversation like he said I didn't say
7:50
what's your favorite food because I
7:52
didn't plan on cooking it I
7:54
didn't let me get this face she's an
7:57
amazing cook now once I put a ring on
7:58
and we got married she she chefs it up
8:01
when we was dating I did all the cooking
8:03
he did and I didn't care about his
8:04
favorite color I don't care about your
8:06
favorite movie I didn't care about any
8:07
of that I wanted to see what you had in
8:11
you of substance can I build with you
8:14
right did it mean we were going to build
8:15
tomorrow no but I needed to know what
8:17
direction he was going in because at
8:19
that point I was laser focused on where
8:21
I was going do you mind me asking how
8:23
old were you guys when this happened
8:25
because I think too part of the social
8:27
media thing you to see people doing at
8:29
certain ages and you like y it gets real
8:32
like what you can't keep this up you
8:34
know so what age were you guys when so
8:37
we were in our late 20s L met 20 28 29
8:41
yeah I was 28 so you were about this my
8:43
Sugar Mama she's a little bit older than
8:45
me my sugar mom older a year old mons
8:50
mons older than my husband old I'm 4
8:54
months older than my husband and he
8:55
tells people he with an older woman I'm
8:57
like lies it's the same thing okay
8:59
I see what you did
9:01
D no but that's dope I get it 28 29 I
9:04
got I get it and at that point it was
9:07
when we got together time is of the
9:09
essence and I was really focused on
9:12
building at that point when we got
9:14
together I said you know we're going to
9:16
go to
9:17
counseling um and he was like I ain't
9:19
going to no counseling we don't do that
9:21
here I said oh I'm sorry I asked right I
9:24
asked wrong you right you right I
9:26
apologize you're going to counseling if
9:30
you want to be with me I said I came
9:33
from a single parent household he came
9:35
from a single parent household we have
9:37
never seen it done right so we ain't
9:39
going to pretend because I love The
9:40
Cosby Show I love Family Matters I love
9:42
all good times but that wasn't our
9:46
reality and because you had not come
9:49
from a household that's seen it done
9:50
right I haven't we need to make sure
9:52
that we know how to communicate from the
9:54
very beginning so most people look at it
9:56
like oh it's couple is counsel and when
9:58
you get together
10:00
we weren't even two months in and I said
10:01
it was a requirement to date we had to
10:03
go through C and I I didn't want to go I
10:06
was fighting it Kicking and Screaming
10:08
I'm not going to sit on some couch and
10:09
tell some stranger about my problems and
10:12
she was like well if you want to be with
10:13
me you going and you went and how did it
10:15
turn out man I'm in counseling I'm
10:17
telling them everything I'm like I'm
10:19
like she does this stuff and I don't
10:21
like it and she like I dragged you here
10:24
now you told this this lady
10:26
everything we using these strategies
10:28
when did you you guys that effectively
10:30
like fall in love and start your
10:34
business because it seems like you know
10:37
Chris you immediately said yes to the
10:40
possibility to the potential when did
10:43
y'all put that in motion with love and
10:45
business let's answer that question when
10:46
we come back all right we're going to
10:48
open up the phone lines to 888 7423 345
10:53
we got Crystal and dric polite are here
10:55
there's a show called 50/50 flip
10:58
streaming on a& e and you can also find
11:01
it on Hulu it's all about finding homes
11:05
making
11:06
Investments uh renovating those homes
11:10
and and making a profit if you sell it
11:12
back or you decide to keep it in your
11:14
portfolio or just even teaching folks
11:17
what I love most about their show is you
11:19
can learn how to do it yourself by
11:21
watching the things that they do they
11:22
walk you through their process they have
11:24
people that work for them sometimes that
11:26
go out in the field they find these
11:27
different homes they have their morning
11:29
meetings they sit and say okay now what
11:31
do you got you know what I mean I got
11:33
this house I think this is dope and
11:35
Dia say that's not in our sweet Zone we
11:37
like them 1,000 to 2,000 square foot
11:40
this one is bigger than that you been
11:41
researching I see come on man I know who
11:43
you are
11:45
man man I play like I don't know but I'm
11:47
I'm the fast dog I'm the F you op you're
11:51
an OP say you op you're an OP I done
11:53
tell everybody he's an OP come on hea
11:56
I'm number one radio
11:58
op
11:59
you had to laugh I do know a lot but
12:02
anyway so in this so this was make the
12:04
show so interesting we've been talking
12:05
about how you guys came together Tracy
12:07
you asked a great question yeah because
12:09
crystal is not afraid to forecast the
12:11
future out loud and she was very direct
12:14
during that first date with Dedrick and
12:16
it made me wonder um when did because
12:19
these are questions asking about your um
12:22
credit score asking about um if you're
12:25
an entrepreneur I feel like a lot of
12:27
folks would do it while they're already
12:29
in the dating scene when did you guys
12:31
actually fall in love and when did you
12:35
guys decide okay we can actually start
12:38
business together that's a great
12:40
question um when we actually fell in
12:43
love is after I told him to go off cuz
12:48
when we first met I said you know he was
12:51
like I want to be with you and I said
12:53
you ain't ready yet I said so I need you
12:56
to go off for a year live your life
12:59
and my exact words is go sell your Royal
13:02
oats and come back in a year after
13:05
you've partied you've traveled the world
13:08
you slept with some girls you done
13:11
rolled your motorcycle you done went ham
13:14
pop bottles do that for a year come back
13:17
and if you're still ready to be with me
13:20
then we can revisit this I see jaws Dro
13:24
listen I thought I was getting punked
13:26
cuz y'all know how it is fellas when a
13:27
girl tell you to go do you do you boo
13:30
boo right when they say that you like
13:32
I'm getting set up it's a set up that's
13:34
what I thought what did you do I fought
13:37
it for while I'm like you don't really
13:38
want me to do that and I really had to
13:40
tell him after keep calling keep calling
13:42
I wasn't answering the phone I finally
13:43
picked up had a conversation with him
13:45
and I said
13:46
listen I told you to go off and do you I
13:49
know but I I really want to be with you
13:51
I said listen you're not ready so I'm in
13:53
my late 20s I'm doing Club promotion in
13:55
Boston I'm partying I got a house I got
13:57
a motorcycle I wasn't ready for a
13:59
committed relationship for but for me it
14:00
was love at first sight when I first saw
14:02
her I didn't believe like oh you'll see
14:04
your wife and you'll fall in love but
14:05
that's what happened with her I was like
14:07
that's who I want to be with but I
14:08
wasn't ready at the time for Rel I knew
14:10
he wasn't ready and I knew if I would
14:12
have forced him and been like oh okay
14:14
yeah you you say you're ready that's
14:15
what your mouth is saying which a lot of
14:16
females do they try to force it yeah and
14:19
they put that ultimatum and I told him I
14:21
said go off come back in a year if you
14:24
are still in love if you still want to
14:26
be with me then we're going to revisit
14:27
this he went off finally for an entire
14:31
year I I had a lot of fun parted did his
14:33
thing and we kept in contact here and
14:36
there in the very beginning um he shoot
14:38
me a text and it' be one word oh hey
14:40
how's everything doing good oh that was
14:43
it cuz you know if you let him in the
14:45
door oh you know I miss you it was just
14:47
good what color draw you got on right
14:49
now that's it that would be the next one
14:52
that would be been the question so he
14:54
went off did his thing came back in a
14:56
year um like yo I'm I'm actually I'm
14:58
really ready now and I said okay I was
15:00
in a relationship of
15:06
course of course I was like you in a
15:08
whole relationship now this what we
15:10
doing nowhere in that story did y'all
15:12
hear me say I was going to
15:14
wait I just said come back in the year
15:17
he came back in the year he was ready I
15:20
we had a conversation we went to lunch
15:23
you leaving out the part I'm ready so
15:24
I'm trying to get back in touch and
15:26
she's ghosting me she not picking up the
15:28
phone not answering text I show I show
15:31
up at her house wow I see her car
15:33
outside she Ain answering the door so
15:35
now I'm in like stalker mode I'm like I
15:37
know she in here and I don't do crazy
15:39
stuff like that but when I knew I was at
15:41
her door listening to see if she was
15:43
breathing I knew I was in love at that
15:45
point I'm like yo I've never doing that
15:47
I've never done that in life but I knew
15:49
I was a movie the dude that you were
15:51
dating Crystal you asked him the same
15:53
questions you asked dedri the first date
15:55
yes I asked him we didn't have was like
15:57
wait a minute what I thought I was one
15:59
to one no no it was those set of
16:01
questions because I knew I was going to
16:03
marry him he was just temporary for him
16:06
it was more so like oh what do you have
16:07
going on in your life okay because you
16:09
still couldn't be around me and didn't
16:10
have any goals so it was more so general
16:13
questions like what you got going on in
16:14
your life um and when he came back
16:16
around and I saw we had lunch I saw he
16:19
was serious he was ready I said okay
16:21
told the guy I was with it's been real
16:25
um gosh oh sheing
16:30
Watch Out Boy she'll chew you up that's
16:33
why I wasn't too worried I knew that
16:35
relationship was temporary it was I
16:37
build upon friendships before
16:39
relationships and I've always been that
16:41
that way so even at our wedding I had
16:43
like three exes that were at our wedding
16:45
because we are great friends like I
16:47
build that friendship so it supersedes
16:50
the relationship it is you're bugging
16:52
though right there with three xes if it
16:54
ends right and they were there with
16:55
their wives there with their girlfriend
16:59
okay that's because our friendship
17:01
always supersedes the relationship once
17:03
it ends it's like we now went into
17:05
family mode that's how I've always been
17:07
with all of my relationships I just feel
17:09
if we commit and spend time together and
17:12
I've given you a part of my life unless
17:14
you give me something that ain't curable
17:16
yeah we good right I don't care what you
17:19
do you ain't got to lie to me you ain't
17:20
got to cheat cuz we can make whatever
17:22
relationship we have what we want it to
17:24
be if you just upfront and honest and
17:26
with him he came back I saw he was right
17:29
I said okay um to the guy I was with and
17:31
I said listen you've been it's been real
17:33
it's been great um this is not going to
17:35
work long term you kind of knew that
17:38
because I was very upfront and honest
17:40
with you from the beginning he and I got
17:42
together right when we got together um D
17:46
comes from a very affluent education
17:49
background so he's always went to
17:51
private schools some of the best
17:52
universities he had got fired from a job
17:55
mhm and when he got fired from a job he
17:58
was like down was
18:00
depressed and I let it go on for a good
18:03
two weeks you know I let him let him
18:05
wallow in it a little bit I gave it two
18:08
weeks and then I came to his house and
18:11
he was still there same clothes on same
18:13
clothes I'm like I was depressed I Lord
18:17
have mercy okay I said listen I said f
18:22
that job the job lost you you didn't
18:24
lose that job don't you ever allow a job
18:26
to tie your selfworth into your NE n
18:29
worth I said at this point you're going
18:30
to take your time to figure out what
18:33
dedric wants to do what God ordained you
18:35
to do is what you're about to do go off
18:38
ride your motorcycle clear your head and
18:40
build from here on out don't worry about
18:43
your bills don't worry about mortgages I
18:46
will aage hold that down and when she
18:49
said that that just cemented it I knew
18:50
she was the one she like like you going
18:52
to hold me down she held down the bills
18:54
the mortgage no I didn't let her but the
18:56
fact fact she was willing like yeah this
19:00
the one yeah and I knew there was more
19:03
greatness than in him than he even
19:05
recognized and I just knew it took
19:07
someone to have to pull it out of him
19:10
and I said go off and clear your mind
19:13
figure out what you want to do in life
19:16
he went
19:17
off and within I say 48 Hours he had
19:21
already branded himself started his own
19:23
marketing company coming off of the one
19:25
he was with he had already gotten a
19:27
teaching job at Harvard wow wow he had
19:31
then found uh Airbnb at the time this
19:33
was in 2012 12 Airbnb had only been
19:36
around about three years he had found
19:38
Airbnb he was like yo listen I think we
19:40
should we could air I found this
19:42
business I think we could do it and I
19:44
was like well what is it tell me about
19:45
it he was like oh it's called Airbnb
19:47
people rent out your spot D he's like we
19:49
could do your apartment and you can just
19:52
stay here with me and he was like oh no
19:55
because your brother's living there I
19:56
said he was hold on one second
20:00
yeah hey bro you got two weeks you have
20:03
to move he wasn't paying no rent bro
20:05
wasn't paying no rent so she called him
20:07
up was like yo who here she
20:09
CES I tell boy she'll true you up she's
20:13
a
20:15
man a no female casualties in this
20:20
story feale he was like yo sis I'll pay
20:23
rent no you like n you was paying rent
20:25
all this time you been there months and
20:26
and I Ain actually pay no rent or
20:28
anything still paying all the bills at
20:30
the spot he said listen I got a business
20:32
idea I said okay hold on uh you got two
20:35
weeks mhm and then you got the move no
20:38
I'll pay rent nope too late I already
20:39
got a rent thank you hung up the phone I
20:42
said no what we got to do and he was
20:44
like oh okay um let me do a little bit
20:47
more research and I figured out and what
20:49
I was telling him was I was going to bet
20:52
on him I was going to gamble on him and
20:54
I was going to help build with him um
20:57
from the beginning so it wasn't like
20:59
a I don't know I ain't never heard of it
21:02
it was I believe in you so if this is
21:05
something you're saying we we can tackle
21:07
together right we can do it together and
21:09
that was our very first business
21:11
together dating at that point what was
21:13
it called still dating we just ran out
21:16
apartment on airbn started with Airbnb
21:18
and he's always wanted to be in real
21:21
estate always that's been his dream his
21:23
goal his house he has all of these thank
21:25
you all of these books VH dresses CDs on
21:30
real estate so real estate was actually
21:32
his goal his dream and I said listen if
21:34
this is what you want to do then I'm all
21:36
in with you T toes in let's do this cuz
21:39
I know you only got a few more minutes
21:41
by the way this is an amazing story I
21:42
didn't expect all of
21:44
this we talked
21:46
about y'all spit up well y'all are home
21:49
man y'all y'all with
21:51
family you know I I really wanted to get
21:53
to know y'all but damn D B wait they
21:57
were still dating at this time at this
21:59
time yeah they W even married yet W okay
22:01
we got a lot of questions
22:04
um we going to go with um uh what's line
22:08
one's name arnesto arnesto go ahead
22:11
what's your question for for Crystal and
22:13
dric good morning good morning how are
22:16
you guys hey hey hey what up hey hey
22:19
first time caller long time caller hold
22:22
up hold up hold up man hold up bro yeah
22:27
welcome to the tribe say it up I got I'm
22:30
blessed to have two homes right okay I
22:33
want to get a third one but my wife
22:35
wants to use our savings and a liquid
22:37
cash and I want to use equity from
22:40
either home both or just one what should
22:44
I
22:45
do it really depends on what your what
22:48
your goal is um I like to use other
22:50
people's money so I feel like if you can
22:52
tap some of your Equity put down 25% and
22:55
use the bank's money instead of using
22:57
all cash that's always good because now
22:59
you can leverage that cash you have and
23:01
buy three properties instead of just one
23:03
so I would put down a a down payment and
23:05
leverage that into several more rental
23:08
properties did you hear that game right
23:10
there oresto under 30 seconds did you
23:12
hear that game in 15 seconds okay so
23:14
what I want you to do is follow them on
23:16
social media as well citizens because a
23:18
lot of people ain't going to get in and
23:19
that's B polite properties yes sir B
23:21
polite be polite properties on IG all
23:24
social media and you're a citizen I need
23:27
everybody to follow polite properties
23:30
especially if you don't own any right
23:33
all right who's line three right there
23:35
Kanani that's Cameron where you calling
23:37
from Pennsylvania Cameron what up go for
23:40
it man welcome to the
23:42
show good morning family good morning so
23:44
question I own about 50 acres of land
23:47
and my house sits on about eight of
23:50
those Acres um and I'm looking to expand
23:54
that um I want to sublet that property
23:58
uh so how would and I have the liquid
24:00
cash as well but then I have a lot of
24:02
equity in my home as well so what what
24:05
what way would you go with starting to
24:07
sublet out that property well first of
24:09
all congratulations on owning 50 acres
24:11
of land AC get that in a round of
24:13
applause I always say by soil um what's
24:16
your goal with subletting it what's your
24:19
goal uh to actually just own other homes
24:23
and uh rent them out essentially okay
24:26
essentially having my own subdivision my
24:28
own property so you want to do build to
24:30
rent so you want to build properties you
24:32
don't want to sell it off right you can
24:33
make a nice bag by selling it but if you
24:35
build develop some units and then rent
24:37
it that's that's where you build wealth
24:39
and that's where you build generational
24:40
wealth so I would I would hook up with a
24:42
developer that you can partner with and
24:44
say hey I have the land That's My Equity
24:46
let's partner you help me build it and
24:49
then rent it long term you may give him
24:51
a percentage 5 10% equity in the deal
24:53
but that's what I would do and I would
24:55
also add with 50 acres um to take in and
25:00
get some capital of your own maybe
25:02
subdivide some of that up right get a
25:05
commercial realtor broker who can bring
25:08
in a big developer who's looking to
25:10
build a warehouse of some sort or
25:12
something on that they'll pay you for
25:14
that portion now here is your Capital as
25:17
well right giving them maybe five or 10
25:19
acres of that land and now youve have a
25:22
couple million in the bank for you to
25:25
self um fund your own development as
25:27
well so that's an option when you have
25:29
that much land hey man do me a favor
25:32
what did hold up hold up hold up that
25:34
that that part you discuss with them
25:36
directly yeah go
25:38
bites.com I just want I mean b poite
25:40
properties online and then you can
25:42
continue this conversation with them
25:44
okay all right you're a citizen brother
25:47
no problem man thank you for tuning all
25:48
right car car Carmel is in Detroit go
25:51
ahead Carmel hey carel yeah what up
25:54
though what up what up what's your
25:57
question real quick cuz they gotta
25:58
[Applause]
25:59
yes I am interested in getting into real
26:02
estate so I want to know is it best for
26:04
me to start with getting a contractors a
26:07
builder's license in Michigan
26:11
or so you want to get into investing or
26:13
you want to get into being a a
26:16
builder um both because it's so hard to
26:19
find someone that communicates well uh
26:22
with contractors it's so hard to find
26:24
someone that communicates and contact
26:25
you maybe a month later and then I'm
26:27
here for someone so so it's a little
26:30
frustrating so we always encourage folks
26:32
to get into wholesaling real estate uh
26:34
you don't need a real estate license to
26:36
do a wholesaling is basically being a
26:37
middleman or middle woman in a
26:38
transaction finding a highly motivated
26:41
seller getting that seller under under
26:42
contract for a cheap price and then
26:44
assigning that contract to a builder or
26:46
Fix and Flip investor make a couple
26:49
thousand 10 20 100,000 doing that then
26:51
you can get into flipping houses
26:53
yourself or building and building new
26:54
construction and then make sure you
26:56
follow them did you want to add Chris
26:58
Crystal yeah I would definitely say um
27:00
with wholesaling just to put it in
27:03
perspective so people understand the
27:04
power of it D and I third deal that we
27:07
ever did was $105,000 wholesale fee and
27:10
all we did was take one piece of paper
27:12
and give it to another individual so we
27:14
sold our contract never put down a
27:17
dollar never put down um any equity in
27:20
the deal we got a property under
27:22
contract a piece of paper Found Someone
27:25
Like Us who are flippers developers sold
27:28
that piece of paper to them and we made
27:30
the spread the middle spread of that was
27:33
$105,000 we became Instant Cash buyers
27:36
at that point wow damn okay man Hey
27:39
listen we're learning right here I told
27:41
you that I wanted to have them up here
27:43
we got the polites up here Crystal and
27:44
dric Heather you asked the last question
27:46
yeah because I want to talk about
27:47
something that's common in a lot of
27:49
families and that's Grandma's house um
27:51
you know they reversed the mortgage in a
27:54
situation a personal situation where the
27:56
mortgage was reversed and now they owe
27:59
about
28:01
$475,000 um with the interest that
28:03
accured over the years since they
28:04
reversed the mortgage the home needs
28:06
probably another
28:08
$150,000 in repairs in your guys opinion
28:11
your guys opinion is it worth saving
28:13
that home um you know when you have a
28:16
elderly when you have grandparents or
28:18
aunts and uncles in these homes like
28:20
this is it worth a family member coming
28:22
along and trying to buy that home and
28:24
save it so yes where's the home located
28:27
would you say Jersey Jersey City what's
28:30
the potential value like once it's all
28:31
fixed up what will it be worth it's a
28:34
two family um it's a two family home so
28:37
I would say each apartment you can
28:40
probably rent somewhere between $2 and
28:43
$3,000
28:45
each okay so do if the arv of that home
28:49
and it's in Jersey you got to explain
28:50
the arv after rep value once it's fixed
28:53
up what will it be worth okay yep so if
28:56
that after repair value is um almost
29:00
double what you owe in that mortgage
29:02
then I would definitely say is worth
29:05
Saving right so if after you fix it up
29:07
and it's looking amazing and say she
29:10
owes 400 475,000 but you know the homes
29:13
so like in Boston these homes are worth
29:15
two families three families are worth a
29:16
million dollars off rip and they could
29:18
be a tear down but the dirt that is with
29:21
which it sits on is makes it extremely
29:24
valuable and I know New York is like
29:27
that also so JY in Jersey is like that
29:29
Jersey I would say right the house
29:31
across the street sold for
29:33
$650,000 was it a direct comp for that
29:36
one was it a two family it was a two
29:38
family yeah um as well so that kind of
29:41
gives you a clear indication of what
29:42
that one would be MH but if this is a
29:44
generational home don't sell big mama's
29:47
house that's what we say don't sell it
29:49
don't sell keep it in the family because
29:51
there are ways that you can even with
29:53
that mortgage you can work it out where
29:56
um a family member can come in
29:58
and purchase that home save the home
30:01
we've done it before um and keep that
30:04
within the family how do you stop the
30:06
bleeding until that point that part
30:08
happens like it sound like this is a
30:10
bleeding house you know bad roof uh
30:13
floors heat name yeah dilapidate what
30:16
would you suggest if if this house was
30:18
in your hands what would you do so if it
30:22
was in our hands I would say look to
30:24
family to help when it comes to the
30:27
renovation no no no no this is okay so
30:31
yeah cuz look at everybody comp
30:33
situation look the whole family is yeah
30:36
it's everybody in our community so okay
30:39
got you okay so what you're going to be
30:41
looking for now is funds to help fix up
30:45
this house so and it doesn't have to
30:48
cost 100,000 200
30:51
$300,000 um you have to get creative so
30:54
even with our flips what you guys really
30:56
see is true we get creative so we're
30:58
going to the wholesale Outlets things of
31:00
that nature where it's a fraction of the
31:03
cost versus a big box store right you're
31:05
going to want to get the capital to at
31:07
least fix up the property even if you
31:10
got to give say you go to sway and be
31:12
like listen if you give me 50,000 you
31:14
have you can get Equity into the home
31:17
right even if it is at the end where
31:19
you're saying hey I I have to sell to
31:21
pay people back um if you can rent it
31:25
then and rent it for maybe a year two
31:28
three years where you're building up the
31:30
value in that house you're still
31:32
capturing that depreciation that's also
31:34
a great thing giving someone some
31:36
Instant Equity into the home for an
31:38
exchange for a capital to fix it up is
31:42
also a way you can go and people do that
31:44
all the time we have private investors
31:46
right now on a lot of 98% of our
31:48
portfolio is all seller finance where we
31:51
go directly to the owner and we say hey
31:52
we'll give you $100,000 for your house
31:54
and give you $2,000 down right and we
31:57
purchase the home there's no banks
31:59
involved or any of that we go directly
32:01
to the owner and we still don't come out
32:04
of pocket for the down payment because
32:05
we go to someone like Sway and be like
32:07
hey listen you got money just sitting in
32:09
the bank you ain't doing nothing with it
32:11
you're not getting any appreciation you
32:12
give us
32:14
50,000 and we'll in return in a year or
32:17
two years when we go to refinance it
32:20
we'll give you 55 or 58,000 back they've
32:24
done that for every property we've ever
32:25
had so if you get a private investor
32:27
that you can bring in to give you some
32:30
Capital upfront to get it fixed up where
32:33
you can keep the house and then you turn
32:35
around and you can refinance it later
32:37
there are banks that you can work with
32:40
in reverse mortgage situations Heather
32:43
you should follow them
32:45
at we'll talk okay all right all right
32:48
okay just got okay thank you
32:52
yeah all right listen this is amazing if
32:54
y'all ever come to New York yall going
32:55
to promise to come see us Y come back
32:58
it's a pleasure thanks for having us
33:00
appreciate absolutely I hope you enjoyed
33:02
your time with us and as you watched us
33:05
over the years or even listen to us over
33:07
the years I hope you can see us even
33:09
realer In the Flesh even better in
33:11
person we we try not to Fan out a p you
33:14
might as well get it off Crystal we
33:16
already know you a Maneater so you ain't
33:18
pulling nobody right now I'm joking D
33:20
I'm joking your love is amazing your
33:23
story is amazing
33:26
congratulations taught us about that too
33:29
yeah I'm waiting for somebody to ask me
33:31
my credit score stupid all right s what
33:34
is it s stop Tracy all right so
33:40
um be polite properties be polite
33:43
citizens follow them and then make sure
33:45
they can watch y'all where on Hulu 50-50
33:47
flip y or a& E there it is man good it
33:50
for dric and Crystal
33:54
[Music]
33:56
polite
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