In this episode of the regular edition of the Fresh & Fit Podcast, we talk about one of the worst things you can do to your wealth, car payments. We also talk about my current real estate portfolio and how we plan to grow it.
00:06:59.000As you guys know, the way that we're gonna be doing things is we're gonna be going live on uh, you know, YouTube, Fresh and Fit for Money Mondays, and then also I think on Fridays, if I'm not like doing a debate or something like that, we're gonna also open it up uh for calling show where the first half of the show is gonna be financial.
00:07:15.000So the Fresh and Fit channel, guys, basically on YouTube for now for the time being for the next couple months, is gonna basically effectively become a f financial channel, help you guys get your money up.
00:07:24.000Um me and Fresh are spitball on a bunch of ideas.
00:07:26.000We can put more content on here for you guys financially financially based, whether it's uh getting your credit score up, helping you guys save money, budgeting, investing in real estate.
00:07:34.000I still owe you guys an episode on commercial real estate.
00:07:37.000Um right now, as we speak, me and Roger are kind of finalizing all my stuff.
00:07:44.000So I want to make sure I have everything right, and then I'm gonna bring Roger in and we're gonna do a full episode on um you know, my current portfolio, what's going on with that.
00:07:51.000Uh we're sitting at about 20 to 22, 23 properties right now at the moment.
00:07:56.000Um and I have a whole system that we're using where um you know I have an app that I use to keep track of all the tenants and everything and you know, I want to make sure that when we do it for for you guys, it's gonna be super robust, super throw.
00:08:09.000Bring Roger in here, probably do a call and answer questions for you guys.
00:08:13.000I promise you guys are gonna get it very soon.
00:08:14.000Um we're just making sure that we have all the bookkeeping handle on our end so that we can really come at you guys uh with all the information.
00:08:20.000So this channel, um, at least from the YouTube perspective, is gonna be way more financially based for the next few months.
00:08:26.000You know, if we can't go and do the after hours and everything else like that later on, uh maybe we will, but uh for now, you know, to get our thing back up, uh we're gonna keep it financial.
00:08:36.000And then obviously everything is gonna be on rumble and on kick the home base.
00:08:39.000Nothing changes, you guys better get the after hours there.
00:08:42.000But for now, we're gonna do after hours and rumble.
00:08:44.000Everything you guys want, unlimited a rumble, no bars held, everything you want to say we can say there because it's free speech and rumble's the best platform.
00:08:52.000Yeah, so yeah, rum uh rumble and kick is gonna have all the you know Wednesday shows, special guests that are controversial, whatever, but on here we're gonna be doing the financial stuff and um you know, and like I said, we're gonna try to bump it up for you guys, give you one short or one clip a day.
00:09:04.000Um, and then one to two streams a week on here.
00:10:10.000But at the same time, being in the car industry, being the car business myself, going through it as well with other friends.
00:10:16.000I've seen trends where if you're not careful, if you're not actually gonna be doing this the right way, it can mess up your financial future for the for the most part.
00:10:23.000And that means that even if you like buy cars a certain way uh right now, you might be doing it wrong.
00:10:29.000So we spoke about this behind the scenes, but for example, Myron's standpoint is he's in e-cars because once again he's homeworking for the most part, and his Honda was memorable, right?
00:10:39.000Yeah, me on the other hand, I just love a lot of cars.
00:10:41.000I was always wanting to have a Lambo, a Ferrari, all that stuff.
00:10:44.000I did it, it was cool, but for the marketing.
00:13:23.000And I would see kids that are like 19, 20, appearance also being done being like, okay, how do you acquire this car?
00:13:28.000Because this was his parents, how's he getting this brand new BNW?
00:13:32.000But what's happening is they work their job or clever the parents and they're barely affording the car because they're using all the money towards car payment.
00:13:40.000And technically speaking, you're supposed to have 10% of your money into a car max.
00:14:23.000But the main thing is that your actual budget and your income itself is stationary.
00:14:27.000So you have to be smart with it and move accordingly.
00:14:30.000So the number thing you could do, guys, is get rid of your car ASAP because that might be your biggest uh deterrent to wealth at this point.
00:14:58.000So, like, guys, fine dining, fat uh, you know, designer clothing, uh, nice cars, it's all a scam, bro.
00:15:06.000Honestly, um, it's you know, it's a purport of certain type of status or whatever, and I get a lot of you guys, oh, what a good girls, blah blah.
00:15:11.000But then you're gonna end up making yourself broke in the long run, right?
00:15:14.000And kill your wealth, you know, four girls.
00:15:15.000And honestly, I think going to the gym, getting in good shape, you know, wear some like cheap clothes, you're gonna look good in it because you know it fits you well.
00:15:24.000And you'll probably go further with that than you know, spending a whole bunch of money on designer and nice cars and everything.
00:15:29.000And the other thing too that I think that people need to understand is that um I think like Mercedes C classes, Audi A4s, you know, um, you know, BMW 3 series, like these cars are like the what I call like the beginners of like they're entry-level luxury cars.
00:16:04.000What's up happening when you make 150,000 is you have enough money to get entry-level luxury goods, right?
00:16:11.000And maybe go on a vacation here or there, you start to finally get a taste of like the better life.
00:16:16.000Yeah, a lot of people don't have the discipline though to make that kind of money and not fully uh engulf themselves in this luxury life, right?
00:16:24.000At least when you're making 50k per year, you know you're a brokeie a lot of the times and you can't do certain shit.
00:16:28.000You know that you can't go on multiple vacations, you know that you'll go buy a Rolex, you know you can't be buying bottles in a club like that.
00:16:34.000You're you have to be far you're you're more far more aware of your financial limitations, which I think is good for most people because most people have a spending problem, right?
00:16:45.000But when you add the two together, it's even worse.
00:16:47.000So when you're making 50k per year, your limitation, your financial limitations keep you from doing them things.
00:16:52.000But when you make 150k per year, 200k per year, this is a dangerous territory because you actually can't afford some of this stuff, right?
00:16:59.000What ends up happening is you buy this nicer stuff, you get a bigger bill, now you're on these subscriptions, you know, paying this monthly fee because you want to, you know, be able to do certain things.
00:17:09.000Um, and then you put yourself in perpetual debt, right?
00:17:11.000You can get yourself an entry-level Rolex.
00:17:12.000You can go ahead and get yourself a C a C class Mercedes, right?
00:17:15.000Even an E if you want to really stretch it out.
00:17:17.000And most people tend to go towards the red line of where they stand financially, and that could create a lot of problems for you as well.
00:17:24.000So for all the guys out here that are like low six-figure earners or you know, two, three hundred, four hundred thousand, um, you can still put yourself in a really bad financial predicament.
00:17:34.000They said something like 56% of people that make six figures a year, 100,000 more, still are pay living paycheck to paycheck.
00:17:40.000And if you're still living paycheck to paycheck while making that kind of money, um, a lot of the times that means that you are buying unnecessary things most of the time.
00:17:48.000You're not really, you know, you're living in an expensive area, you're maybe spending too much money on going out, you're spending too much money on food, you're spending too much money on certain luxuries that you might not necessarily need.
00:18:10.000The luxury items that they bought, houses that they bought were next level, but lifestyle, obviously, inflation is a real thing.
00:18:16.000And that's there's a reason why they have certain tiers, guys.
00:18:18.000There's a reason why there's a three series BMW versus the seven series, right?
00:18:22.000There's a reason why there's a C class Mercedes versus the S. Like they're trying to hit as many people as they can.
00:18:27.000And a lot of the times what ends up happening is when people buy that C class, like that's them maxed out on the amount of money that they get that they can that they qualify for to get that loan, right?
00:18:37.000So they do this on purpose to bring in as many people as possible to make these car payments because they make the money off the payments, you know, not necessarily off of I mean they make money if you buy cash as well, but they would prefer for you to finance for obvious reasons.
00:18:51.000So to your point, this is the actual wealth killer here.
00:18:54.000So most car dealerships don't sell cars.
00:19:25.000They're gonna say we can give you a better better deal if you just finance, you know, we'll lower the the multiple payment, we'll lower this and that, lower the price of the car, just get into a finance deal.
00:20:11.000So mind you, they have their old car, not paid off in full yet.
00:20:14.000They have negative equity in this car, they want a new one.
00:20:16.000Let's say they want that they got a BNW three series, they want seven series.
00:20:20.000They'll go about the BNW, trading this uh three series for seven series, and they add on a negative equity into this car.
00:20:26.000So now you have multiple issues because you're paying interest on this high-ass loan and they have equity uh uh equity as well, which means you're gonna have multiple points of contention because let's say you gotta save money for your assets.
00:20:40.000Because you're paying interest and a high car payment for a car that's uh burdened with high um equity.
00:20:46.000So this is where I say all the time, guys, you gotta look at these deals as for example, what they are, not for the car because we're all emotional when we go buy cars.
00:20:54.000Oh, I want this car, it's my dream car, bro.
00:20:57.000I was there, I did it too, but looking back on it, you gotta move smarter.
00:21:01.000So the end all bill, guys, is that when you go to buy a car, especially nowadays.
00:21:05.000Um, well, first of all, you shouldn't buy the cars now anyway.
00:21:07.000You should wait until after this shit happens with the rates with the feds.
00:21:10.000But if you're gonna buy a car, look at a contract.
00:21:13.000If I pay this car off, how much interest I'm gonna pay for this entire term.
00:21:19.000And funny enough, if you look at the actual uh terms of this disagreement you pay most of the time, you're paying double for the car when it's all said and done.
00:21:26.000So it's a bad bet because most people should pay their cars off in cash, but most people can't because obviously it's a lot of money.
00:21:34.000So what happens is let's say the car, let's say there's two cars, right?
00:21:37.000One car is for I don't know, 5k, right?
00:21:41.000But you only have like let's say 3k, but the other car for 10k, that's nicer, right?
00:21:57.000But they don't they don't tell you that like the car for 5k that you would have got, you only owe 2K on it, a little bit of interest, you'd be done within that year or so, and you're good to go.
00:22:05.000But 10k, if you lose your job, you know, if your parents, if you get sick, if you end up not working as much as possible, you might lose your car and get repo, right?
00:22:14.000And they don't care because they're gonna take it back, sell to somebody else.
00:22:17.000So this whole thing is made towards uh finance more than the car itself, which is why to me, you're not really buying a car, you're buying actual rental or a lease, if that makes sense, because the car isn't yours.
00:22:28.000If you don't make make all the payments, they just take it back to sell to somebody else.
00:22:32.000So for Americans, uh, even for myself as well, I just think that like right now, there's not a lot of education on cars itself, and most people get into these things because they don't know better.
00:22:43.000Now I know way better than I did before.
00:22:45.000I'm making excellent deals now, and my friends are as well.
00:22:48.000So I just felt the burden of sharing this with you guys because to me, if I can say one person making this bad mistake with their finances and ruined their actual wealth, then uh, you know, we did our job here.
00:22:58.000Uh, but my is a good example because Myron just focuses on our real estate, working, and you still have your old Honda, right?
00:23:05.000Uh I never drive it, but um, you know, uh I have it if I need it.
00:23:09.000I I look, man, I I think um, you know, I get it.
00:23:13.000Some people want a nice car, they want to be taken seriously, they want to be able to say, look, I'm of a certain status, right?
00:23:18.000Um, but I I think, especially if you like live in a major city area and you don't need a car, you don't need it, you know, then obviously, you know, stay away from it.
00:23:28.000But if you're obviously if you're driving a lot, right, and you need a car because you drive all the time and you don't want to put wear and tear, or you got an old non-reliable car, that's fine.
00:23:35.000But I would always say, like, I think the best thing to do is just buy like a cheap Ronda or some type of Japanese car, four cylinder, um, that's good on gas, and uh buy it cash, own it, right?
00:23:46.000And um don't have to worry about a car payment because car payments are a pain, man.
00:23:49.000So let me tell you a story that happened to me actually uh a couple months ago, right?
00:23:54.000Remember, I used to wear those big ass monkey chains, and uh, you know, the big watch, and I was like, I was not I'm that nigga, right?
00:24:58.000Yeah, I mean, I think uh being a minimalist is like really one of the best things you could do because when you own a lot of things, what ends up happening is you start getting like stressed out.
00:25:06.000You all you you know, you start to be like, oh, I got this car, why can't I get this one?
00:25:09.000Oh, I want to be a collector now, oh, I want to do this.
00:25:11.000So um, you know, attaching yourself to materialistic things is the problem is that you're never gonna be satisfied.
00:25:17.000You're gonna want to buy a new thing, you're gonna want to get whatever, right?
00:25:20.000Um, you know, like myself, I give you guys an example.
00:25:23.000So, like I bought an AP and I bought two Rolexes, right?
00:25:25.000And I was like, oh, you know, I want to get this next Rolex, but then I had to stop myself.
00:25:28.000I was like, wait, whoa, wait, wait, wait, wait.
00:25:42.000But you know, I didn't get it, and and I'm glad that I didn't because I cut it uh, you know, I used that money instead to invest in real estate.
00:25:48.000But I have to stop my stupidity for a second to say, well, well, you know, hold the gun now.
00:25:52.000I still have the Rolexes that I bought, right?
00:25:54.000And thankfully all of them appreciated.
00:25:55.000Um because I bought like very plain gins.
00:25:57.000I got uh uh a Pepsi Rolex and I have um you know the Coral Red Oyster Perpetual, and then I have um the AP blackface.
00:26:05.000But you know, I bought watches, even though it's like some nigga shit, I bought watches that I knew would hold value, right?
00:26:10.000APs and certain pieces of Rolex right now.
00:26:43.000But um, but yeah, dude, like uh the problem with material things is like you always want to get more and more and more, and it creates issues.
00:26:50.000So, you know, you get one nice watch and like I want to get this one, I want to collect, blah, blah, blah.
00:26:53.000And then it's like, does it really benefit you?
00:26:55.000Very rarely does buying these luxury items actually make you money back, right?
00:26:58.000Uh you have to be very good At what you do, you have to buy certain pieces.
00:27:02.000Um, and then the other thing too is like let's say you get robbed, right?
00:27:05.000You make yourself a target for no reason.
00:27:06.000Remember, we were in, I'll never forget every time we went to London, we could have worn a Rolexes, bro.
00:27:10.000I remember I was there with Justin Waller and Fresh and shit like that, and we everywhere we went, Sterling was there with us.
00:27:14.000None of us wore Rolexes in London because there's like a whole uh Rolex crew that robs people.
00:27:19.000So, you know, do you really want to make yourself a target, right?
00:27:22.000So look, I think I have a one nice watch, maybe um, that you know is gonna appreciate a very good plane Jane that you know is gonna hold value, maybe a submariner or something like that, basic is fine uh for special events.
00:27:34.000But in general, man, like luxury items are a scam, dude.
00:29:01.000This is the biggest wealth killer that nobody talks about, and no, it's not your daily coffee.
00:29:06.000It's actually the car payment and spending money on cars.
00:29:09.000More than ever, record shares of Americans are paying over a thousand dollars or more on monthly car payments.
00:29:14.000And I think a lot of this is driven by status and everyone wants to appear that they're successful, and cars represent that.
00:29:20.000When it comes to the true cost of owning a car, even on a 2023 Honda Civic, the true cost to own over five years is 42,000 or over $8,000 a year.
00:29:28.000When you're young, try to keep your car payments less than 10 to 15% of your gross monthly paycheck.
00:29:33.000Let me know what your car payment is in the comments.
00:29:35.000This is the biggest wealth killer that nobody talks about.
00:31:32.000Oh, yeah, guys, we're also gonna open up the phone lines.
00:31:33.000Uh, we're keeping the the part where we talk to you, the monologue part of our thing low, and then uh we're gonna open it up for QA for you guys as well.
00:31:41.000Yeah, but we need at least 500 likes, man.
00:31:48.000Um so all in all, fellas, just from my experience and from what I've seen in the marketplace, working with dealerships around uh South Florida around the world.
00:31:57.000Yeah, cars are a bad bit because it's it's finance, fellas.
00:32:00.000You just you just finance the interest and the car, but let's be honest here.
00:33:52.000Again, uh to call into the show, 646490394.
00:33:55.000Call in with any questions you guys got on, you know, real estate, um, cars, financing, credit, any of that stuff, uh index funds, cryptocurrency, whatever you guys are.
00:34:07.000Actually, matter of fact, we got Charlie Miguel coming in about a week and a half for crypto.
00:34:10.000So also, what's your car payment, fellas?
00:34:12.000What do you pay in a month for your car?
00:34:19.000So um yeah, guys, smash the like button so we can uh go ahead and get uh fresh's um so you guys could find out what his um uh car payment was back then.
00:36:01.000And as you guys know, if you want to cut the phone lines, just uh, you know, put the last four disappearance super chat in, and we'll get you to the front.
00:36:07.000Let's go ahead and uh get the first person on the line.
00:37:02.000Um so you make 300 a week doing that, and then uh you said you do something with Taco Bell.
00:37:08.000Uh yeah, I just work there part time, maybe like 10 hours, 15 hours a week if I'm not getting clients to do work for, and then my internship is gonna pay me about like four or five hundred a week and then Taco Bell like two hundred.
00:37:22.000Yeah, I mean, uh, it seems like you got uh, you know, diverse uh uh panel right there of jobs that you have.
00:37:29.000I mean, uh realistically speaking, bro, you know, I would say it like is your study is your like coursework very uh difficult or is it is your course load hard or do you have a lot of free time?
00:37:42.000Uh I I would say I have about thirty hours of free time.
00:37:45.000I forgot what show you guys did, but um I calculated how much free time I had in my day.
00:38:04.000Yeah, I mean, I would say, bro, um, you know, whichever of the three that you prefer to do, obviously do that the most and see what you can do it, but obviously one of them is contingent upon having clients with like their landscaping stuff.
00:38:15.000I would say maybe if you want, you could drop the Taco Bell and instead of doing the Taco Bell, you do like Uber or Uber Eats or something like that.
00:38:23.000Because the good thing about that is like you could kind of do it on your time.
00:38:26.000So like, you know, you can go ahead and clock in and work with Uber for a couple hours in between classes or whatever, so it'll give you a little bit more uh flexibility to kind of work on your time when you're not working.
00:38:38.000But I mean I would say uh right now, dude, you're just in school, going to class, work as many hours as you can, fill up that calendar, and uh, you know, save that money as much as you can and and and you know, hopefully you graduate with college.
00:38:50.000And you said you don't you're on a scholarship, right?
00:38:51.000You're not like gonna be in debt or anything or yeah, yeah, no debt.
00:38:54.000I'm in SUNY, so it's all paid for by the state.
00:39:18.000Well, that's gonna be that's gonna be very contingent upon where you decide you want to live.
00:39:22.000I mean, if you're at SUNY, I'm assuming you're in you know, somewhere in the state of New York.
00:39:26.000Um, you gotta ask yourself, do you want to, you know, be tied to New York, you know, uh with a real estate property, at least for one year, if you especially if you do FHA.
00:39:37.000I know the taxes here are pretty high compared to uh other places.
00:39:41.000But I'm I'm currently in Rochester, New York.
00:39:45.000And uh it's growing as a market for real estate right now.
00:39:49.000Everything's heating up, but I just I was also looking at uh Maryland as well.
00:39:53.000What's the average home in Rochester go for?
00:39:55.000There ain't nothing up there, so it might be cheap.
00:39:57.000What what's the average home in Rochester right now?
00:40:00.000Um I believe around three hundred thousand, it's really not that bad.
00:40:05.000Yeah, I mean, you know, if you want to if you're cool with living in it for a year, right, and and getting your um and then renting it out, you know, you can get either a duplex or get yourself a um a single family home, three bedroom, uh, you know, two bath is the standard.
00:40:19.000Um obviously at a single family home is gonna be cheaper than getting a duplex or a triplex.
00:40:24.000But you know, I always tell people to go for the duplex to the triplex so that you can at least make some money that first year that you're in there or Live for free.
00:40:31.000Um, because if you do the FHA loan, it's gonna cost more.
00:40:35.000But uh well, it's if you do the FHA loan with a duplex or triplex, yes, it's gonna cost more.
00:40:39.000But hopefully, you having c uh tenants in there is going to offset that where you're either A uh breaking even or B making a profit or C um losing just a little bit of money.
00:40:52.000And then for that year that you're in there, uh, where you're living at a reduced or if uh free price or even cash flowing, um, you're able to save up your money and pick up your next house.
00:41:01.000So um if you can, save up as much as you can to try to get yourself a duplex or a triplex.
00:41:05.000If not, then get yourself a single family home and you could use the FHA loan to do that.
00:41:40.000Uh again, guys, 646-490-0394 is the number to call into the show.
00:41:45.000Um, if you want to skip the phone lines, go ahead and put the last four digits of your number when you super chat in, and we'll get you in.
00:42:29.000Yeah, guys, Zoom calls have a lot of sauce, man.
00:42:31.000You get personal help as well as information that's not good for you too because certain shit I can't say because it's confidential, but uh, you know, by the scenes, we could kind of give you some hits more hints there.
00:45:40.000And um you gave me some good advice, Myron, but I kind of wanted a little bit more detail, but my dumb ass didn't know how to uh give you a question because it was my first time calling in.
00:45:49.000But that's part of the second question I wanted to ask.
00:46:58.000So the car was damaged, it was complete total total loss, and um they gave me the money and I pay ended up paying the whole vehicle off, and um now I'm looking for another car.
00:47:08.000It's been three months since I'm gonna go to the house.
00:47:10.000So now you have no since I'm paying like three thousand forty.
00:47:27.000I have two thousand, but uh uh that's another thing that I don't know if I want to put in that money or if I want to continue to try to build up my credit.
00:49:04.000Tips are gonna be no bueno, because at some point, bro, they're gonna say, uh, well, you know, I want to eat, but I don't want to tip because I don't have money in my account.
00:49:13.000So tips are good to uh uh, you know, go for it, but right now, bro, the economy sucks, bro.
00:49:17.000So cut on tips is gonna be an L. So do the math there, bro.
00:49:20.000If you're gonna spend $1,500 a month for a car for what you make, bro, it doesn't add up.
00:49:38.000Uh, but I wanted to uh just also bring up the car is worth maybe nine thousand.
00:49:42.000I know that the repairs and everything like that, and I will be driving this car on the weekends because I'm not I'm very humble enough to walk to work, save my money.
00:49:49.000Thank God Myron has that plan and I am debt free.
00:49:52.000Um so that's why the only reason why I was looking at a Mercedes, just because that stupid line, I deserve a car.
00:50:09.000Like, and I gotta get and I get I gotta give you this this fucking, you know, I gotta give this to you very raw and tough now because you're fucking delusional if you think you're gonna go ahead and get a CLS, which is a very expensive vehicle, by the way, and be able to afford it on making three K a month.
00:50:22.000My friend, you need to focus on making more money, not any fucking cars.
00:50:26.000Also, 9K means also keep in mind that you're in the service industry that's contingent upon the economy being good.
00:50:32.000People go out and drink when they have money, okay?
00:50:34.000Right now is not a time uh for you to be buying liabilities like this when you can seriously be putting yourself in a very bad situation uh financially.
00:50:43.000Because remember, bro, you have a job where the bar can get rid of you anytime.
00:50:46.000People might not necessarily hire you.
00:51:21.000Every time he goes to mechanic, it's gonna be sky high in prices because getting uh Mercedes or BMW service or anything else like that, everything is gonna be triple X. Mercedes maintenance bill for a used Mercedes.
00:52:32.000How many hours a week are you working?
00:52:34.000And then I'm uh I'm working at roughly, I'm trying to get more than 40.
00:52:38.000Uh there's no like I I don't work nothing less than 32.
00:52:41.000And then uh if I pick up some bartending uh events that I have on the side, I charge no more than at least three to eight thousand dollars just for for that for that little uh event, depending on how many.
00:54:04.000Um, bro, you this is uh this is a coming.
00:54:09.000This is a come to uh Jesus moment, bro.
00:54:12.000Yo, Look, dude, you're 32 years old, you're making three K a month, you live with your parents, you have no skills, right?
00:54:21.000Bartending I would have considered like a high income skill.
00:54:24.000Like my friend, you need to reassess your entire life right now because what you do over the next three to five years is gonna dictate whether you be are poorer for the rest of your life or if you're gonna get to a point where you won't be poor.
00:54:34.000And making bad decisions like this where you have a child, you're living with your parents, you have uh no skills, and then trying to buy a Mercedes off of that, right?
00:54:42.000Cause just cause you can afford the Mercedes doesn't you mean you'll be able to deal with the maintenance and everything else?
00:54:46.000Because I'll tell you this, bro, the m m uh maintenance for Mercedes or a BMW or any German car for that matter is gonna make you broke immediately.
00:54:52.000Bro, you need to focus on making more money.
00:54:54.000Like you need to cut down any type of um liabilities.
00:55:00.000Caller if you got fired from your job, bro.
00:55:11.000Uh well this to save in total, no, I just have two thousand dollars and going up a little bit uh here and there, uh, because I have other bills and I'm trying to help out, but roughly two thousand dollars.
00:55:20.000If you're not fired from your job, what would you do right now?
00:55:25.000If you got fired from your job, what would you do right now?
00:55:30.000So that was the second question that I wanted to ask you guys.
00:55:32.000So I am a professional bartender, but uh I do have background with cars.
00:55:35.000What do you think about service advisor?
00:55:37.000I know I know uh Myron told me about uh the CDL, the truck driving, and to be completely honest with you, I'm not interested in that, but uh uh service advisor.
00:55:45.000Um I'm a little intimidated by that, but I'm a very persuasive person.
00:57:40.000You think these studies are gonna let me walk around like pregnant man speculative?
00:57:45.000Bro, you need to have uh you need to re really reassess your life, bro.
00:57:48.000Like you're you're you're in a point right now.
00:57:50.000I'm telling you, dude, what you do over the next three years, three to five years is gonna dictate whether you live paycheck to paycheck as a brokeie, or if you get yourself out of this fucking um hole that you're in.
00:57:59.000The only reason why you're not dealing with the bad uh decisions you made through your life is because your parents are holding you down.
00:58:04.000Bro, if you didn't have your parents, you would literally be fucking homeless right now, more than likely, or living in the ghetto somewhere or struggling.
00:58:10.000So thank your parents, thank them by not being a loser, make more money, save more money.
00:58:14.000You don't even deserve a fucking car now at this point, and you need to find another job and get twenty thousand dollars saved.
00:58:40.000You pay eight hundred dollars a month in rent.
00:58:41.000You're so that leaves you with about assuming you spend another couple three hundred whatever on food, whatever.
00:58:46.000Dude, you're gonna have you're gonna be pocketing one to two thousand dollars a month easily, and then you should be making more than three thousand.
00:58:50.000You should be trying to make at least five to ten thousand dollars a month, bro.
01:00:31.000Five to ten thousand dollars a month is what you gotta earn, which means you gotta put in more hours and work more, get another job, and then you need to save twenty thousand dollars.
01:00:38.000The fact that you have only two thousand dollars to your name as a 30-year-old man, is completely unacceptable, all right?
01:01:55.000Um my question that I have for tonight is I want to, although, you know, although I'm doing very well, especially for somebody my age and all aspects of life, and I'm very grateful to God for it first and foremost.
01:02:06.000What I was wanting to call about is I want to segue into e-commerce because I know that with AI just continuously starting to take over and things starting to progress in that direction.
01:02:17.000I want to be able to be in a position where I can automate and really maximize um a second source of income so I can be in a financially free position to do pretty much anything I please.
01:02:27.000I can do most things that I can, you know, I can do a lot of things that I I can pretty much do anything I want for the most part now at you know at this point, but I want to be able to not only be in a position where I can do that at a greater scale, but also be in a position where I can serve others around me and you know put it put put like you know other people on and be able to have that provision.
01:03:34.000And you we kind of had him do um on air, uh how to like kind of started from A to Z, and he he gave all the he gave quite a bit of value as far as like how to get us started with a lot of the websites and everything.
01:03:44.000So by the way, he made from that one show almost 500k in sales.
01:03:54.000Well, I'm not well, I was gonna say I'm not doing this entirely alone because I have a castle club group, uh, like group that I actually roll with.
01:04:02.000You know, I've I've you know I met them in person and we've gone on trips and stuff like this together, and there's one guy who's doing it very well.
01:04:08.000What I was thinking about was kind of just getting with him as far as like starting it up, and then after that, once I get a good startup on it, I want to see exactly guys that you've brought on as far as who I can follow to actually expand it to a really high level.
01:04:21.000So that's kind of just what I was wanting to get from you guys as far as where I should proceed, where I should start number one, and then after I started up, where I should proceed after the fact.
01:04:32.000No, I mean uh you were the one answered his question on the Um It depends, bro.
01:05:48.000Come play for freight, just search e-commerce, I think, search Samir or something like that, and it's gonna come right up on our on our YouTube and the timestamps are there and everything.
01:11:01.000So I would advise you to, bro, as a not as an expert, just as someone give you some advice to go ahead and get this money to pay the car off.
01:11:10.000The negative equity, which probably give me like 10k or so.
01:11:12.000And then once that's done, let the car go.
01:11:15.000But if you want to do what you want to do, then by all means, go ahead and get the repo.
01:11:20.000But get the beer car first because that's gonna save you.
01:11:22.000Isn't that gonna cook his credit score though?
01:11:39.000And keep in mind, that's gonna fuck you up, bro, because it's gonna affect your ability to get loans in the future, credit cards in the future, you want to buy a home, any of that stuff is gonna stay on your credit score for a very long time, bro.
01:11:47.000So I think you really need to consider um doing the repo route.
01:13:57.000And you know, God bless, and you know, stay if you ever need to call into the show or whatever, and you know, vent a little bit, it's fine.
01:15:50.000So you better all just pay the money off, save enough the money and then pay off and get rid of the car completely, without being sued, and then move far from there.
01:17:36.000Um this year I haven't been working overtime because I'm a town, but recently I just got hired permanently, so soon I'll be back working over time.
01:17:45.000But I was thinking about going to school for um construction, tele technology and science.
01:17:49.000So I'll um be a manager in the future, so I don't have to rely on overtime.
01:18:42.000Yes, I stay, I stay in the city of Miami.
01:18:44.000Okay, um, so you stay in the city of Miami um and you work for the county, so you drive all, I'm assuming you drive all around the county to do jobs wherever they send you, right?
01:20:23.000Um, number one, you gotta get rid of that car.
01:20:26.000I think uh you need to get something that's cheap because realistically speaking, the fact that you don't even drive your car, you go to you drive to work and then you pick up a county car so you can actually go ahead and do your rounds.
01:23:12.000Also, the other thing you could do, which I'm thinking about, because it seems like we need we need to get this guy 10,000 to get out of this deal.
01:23:31.000And then and then you could pay them back uh with w with either no interest or no uh low interest, or because I know the interest rate probably on the car is probably high as hell because you didn't put no money down like an idiot.
01:23:40.000Um so what you could do is also get that personal loan at 10k.
01:23:44.000The loan that he gets at 10K might be lower than what he's paying on the car.
01:24:13.000Every single one of you guys, like, yo, if you guys are thinking about buying a brand new car, whatever, just call into the show, give fresh the numbers, and he'll tell you if it's a good deal or not.
01:24:20.000The moment you buy the car, bro, you're losing at least 20% off the lot.
01:24:23.000Every single one of you in chat right now that's thinking about buying a car, do not buy the car until you talk to Mir Fresh, bro, at this point, honestly.
01:24:28.000Because we could have probably saved a bunch of you guys from we said the guy with the CLS.
01:24:36.000So any of you guys that are thinking about buying a new car for this year or in the next couple months, whatever, please hold off until you call on to the show, bro.
01:24:42.000Spend the five dollars, call on to the show, get life saving advice, it's gonna save you $50,000 or fresh.
01:24:47.000He'll tell you, he'll run the car right there on Kelly Blue Book, tell you, nope, don't do it.
01:24:51.000Uh, or hey, I got it here, or do this, whatever.
01:24:54.000Because you guys are putting yourselves upside down on these cars for no reason, bro.
01:25:33.000Bank of America has a credit card that will let you take the money out up to twenty-five thousand dollars, arbitrage, and then you have uh 18 months to pay that back with no interest.
01:25:44.000By the way, this is not financial advice.
01:25:47.000This is just us giving you our knowledge.
01:25:49.000We're just giving you options and experiences.
01:26:03.000Um, but it's uh it's a card, bro, that will let you um basically do a balance transfer.
01:26:08.000And a couple of banks, it let's say you don't have bank of America, you got chase, whatever.
01:26:11.000All these banks have a card that will basically let you do a balance transfer where you can get the the limit on the card, put into your bank account hard cash.
01:29:16.000Um unfortunately, because I've been listening, I would get rid of the car, but like dumbass, I I owe back taxes on the car, so I gotta pay that off first before I get rid of the car, and I'm also negative equity in the car as well.
01:29:29.000So it's always I want to get your opinion on that.
01:30:25.000Um yeah, I'll I was gonna get to that.
01:30:27.000I was wondering your opinion on that as well.
01:30:30.000Um, yeah, because there's no reason because I'm like in my head, I'm like, okay, so you okay you owe 17k on a car, you owe like a thousand dollars here, a thousand dollars for the credit card, maybe two K total was what I calculated from your personal debt and your credit card, you're making six K a month, you shouldn't have this problem, but okay.
01:30:45.000You wanna tell what the bonus point about wealth killer?
01:30:57.000So you're taking home about six thousand dollars a month, and you have one thousand on one credit card maxed, three hundred on other credit card max, and then you said you owe you have two debts and collections from family members?
01:31:09.000Yeah, it was it was a apartment that we was in, and some damage got done to the apartment, and then they charged us for it.
01:31:25.000So all right, and then and then the reason why, and how much money do you have saved right now at this moment is you're on this phone call?
01:31:34.000Um would it be fair to say that the reason why you're so upside down financially is because you had this domestic violence situation, lawyer fees and stuff?
01:34:18.000Oh, um, so the first one, so I did get hit with with the with the um so the first time we got into an incident, the cops called and everything.
01:34:28.000I got the charges on me from her her allegations, and then they put me in the program.
01:34:59.000So six days was was was was left for me to go to court and get everything dismissed.
01:35:04.000And to be honest, every single time I try to break up with her, she she threatens to call the cops, make it make make allegations, and then you know, I was dead serious that time, and then you know, like she called a cops on a six days.
01:35:15.000I'll be honest with you, you're horrible at explaining things.
01:35:17.000So I'm gonna try my best to summarize what's going on here because you don't even know what's going on in your criminal case, so I'm trying to connect the l the dots here so I can figure out how to best give you advice.
01:35:24.000So you got arrested for domestic violence.
01:35:27.000While that case was pending, a protective order was issued against you.
01:35:32.000You violated the protective order by going back to the house to pick up your work equipment.
01:37:24.000But but the other thing too is that like um, you know, I'm just trying to understand here because so he's got two pending criminal cases, and then he has two things in collections.
01:37:33.000Then he has the yeah, so he has he has a private loan, he has two things in collections because of apartment uh the uh problems plus his other bills, and then the car payment, and then okay.
01:37:46.000Now that we kind of understand what's going on here, I'm gonna go through this one more time.
01:37:49.000So number one, you got two criminal cases open right now, right?
01:37:52.000One felony, one misdemeanor, and you're that's gonna kind of contingent upon you doing classes.
01:37:56.000Two, you have a credit card maxed out at one hundred dollars and another sorry, a thousand dollars, then another credit card maxed out at three hundred, then third, you have um some things in collections, uh, three to five hundred dollars, uh, disputes with family members and rent and friends or whatever maybe you guys left an apartment bad, and then you have a seven hundred dollar a month car payment, right?
01:38:16.000Or some of those, and then uh three hundred.
01:38:19.000Six hundred with uh three hundred insurance.
01:38:22.000So he's paying a thousand for his car, thousand for his lawyers, uh for his lawyer, um loans.
01:38:27.000He's got two things in collections for about seven hundred dollars, then he has a credit card maxed out at a thousand, another one for thirteen hundred.
01:39:35.000If you can do those the first month, we're that's what, a thousand bucks uh between those three different expenses.
01:39:40.000Then next I'll knock out the one thousand dollar credit card that's maxed maxed out because the thing that's dinging your credit score right now because you're sitting at about a 530, if I'm not mistaken, is the two things of collections, then your cards being maxed out.
01:39:50.000Yeah, if you can get rid of the two collections uh payments, um, and then the $1,300 that you own the two credit cards, that's gonna significantly boost your credit score until probably the 600s easily, maybe even low 700.
01:40:27.000Um, but the good thing is is that it seems like the prosecutor's working with you, and you'll probably be able to get some type of deal where you won't do jail time.
01:40:34.000Um, whatever you do, do not I I would fight to not get uh plead guilty to a felony.
01:40:39.000You know, even if you plead guilty to domestic violence, that's kind of bad too.
01:42:06.000So collections first, knock that out, then the credit cards.
01:42:10.000After you have that done, start saving money again.
01:42:12.000Prepare for your legal defense, talk with your lawyer, figure out what your options are.
01:42:16.000Do not plead guilty to a felony if you can avoid it, bro.
01:42:18.000And then also, if you could plead guilty to something else that isn't a misdemeanor crime of domestic violence where you don't you can still carry a gun, do that as well.
01:42:26.000You got a private lawyer, you should have some options.
01:42:28.000Um, and then stay out of trouble, bro.
01:42:30.000Like the fact that you got arrested twice, twice in a short period of time, that can look very unfavorable for you, especially since you already had a case against you.
01:42:38.000So um just be on your best behavior, no dumb shit, bro.
01:42:41.000Uh, save your money because who knows what might happen.
01:42:44.000Uh I don't foresee you going to jail, but you know, who knows what the hell's gonna happen.
01:42:48.000So pay off those debts, collections first, credit cards next, save up as much money as you can in the process, pay your lawyer, stay out of trouble, and then as far as your car goes, I wouldn't worry too much about that, bro.
01:42:58.000Let's deal with the problems at hand first, your criminal case and your collections and your credit card debt.
01:43:02.000Um, and then as far as the car payment goes, once you have all that handled, man Fresk can help you out with the car payment next.
01:43:07.000But you you're probably gonna you're gonna be in a similar situation where you're probably upside down on the car, I'm assuming.
01:44:46.000All right, Dam says, can you bring someone that knows how to uh leverage credit cards?
01:44:50.000I see people next talking about getting 0% APR cards and transferring the balance to your credit checking account to buy stocks in crypto, and it's not a cash advance like most people think.
01:44:58.000Uh bro, we've we've talked about that on our show plenty of times.
01:45:03.000The one you just mentioned, Bank of America?
01:45:04.000Yeah, yeah, there's credit cards that will let you um you know do a balance transfer and then you can like leverage that thing and then you just gotta pay it back in 18 months.
01:46:05.000Uh Mallow Boy says, Myron, I need some advice and real estate.
01:46:08.000I'm trying to buy a house with my cousins, and I would like to know how much money do we need and what kind of paperwork ins and outs or are you gonna make a real estate episode?
01:46:14.000I've bro, we have plenty of real estate episodes.
01:48:01.000If you don't ask if you don't care if you don't think it's true, bro, ask any multimillionaire what they're doing what the actual living living uh is like.
01:48:21.000Edgar, I'm owned two, uh, I've owned two CLS 550 09 and 2010, and they're extremely high maintenance because they come with air suspension.
01:48:28.000They ride smooth, but damn, they are more high maintenance than a Miami 304.