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for detail. Welcome

3:03

to the show. I am Rashan

3:05

McDonald, the host of Money Making

3:07

Conversations Masterclass, where we encourage people

3:09

to stop reading other people's success

3:11

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3:13

Listen up, as I interview entrepreneurs

3:15

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3:18

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3:20

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3:22

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3:24

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3:28

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3:30

on Money Making Conversations Masterclass.

3:32

Justin's a graduate of Morehouse

3:34

College, HPCU, 2018, where he

3:36

pledged Omega Sci-Fi Fraternity Incorporated.

3:38

If you don't know, that's

3:40

my fraternity too. That is

3:42

not the reason he's just

3:44

on the show. He's on

3:46

the show to talk about

3:48

real estate. But guess what?

3:50

He's a member of Omega

3:52

Sci-Fi Fraternity Inc. I'm gonna

3:54

throw that out. He furthered

3:56

his education to LSU. How

3:58

you doing, Justin? Man,

4:01

I'm amazing. I'm phenomenal. Thank you

4:03

for having me this afternoon. How

4:06

about yourself? Pretty good. Just a

4:08

night, the reason I've chose to

4:10

bring you on, and talk about

4:12

your background in real estate. Absolutely.

4:15

So my background in real estate is

4:17

ironically, I've been to real estate for

4:20

25 years, and 25 years though, but

4:22

I see that in the most

4:24

realistic and literal regard. My

4:26

mother and my grandparents have

4:28

always been. invested in real

4:31

estate from a child. So

4:33

I grew up turning houses,

4:35

painting, landscaping, doing listings, collecting

4:37

rent, you know, posting on Facebook

4:40

on my mom didn't know how

4:42

to use Instagram, all types of

4:44

things like that as far as

4:46

the marketing of properties and

4:48

looking for properties for the

4:51

family to invest in. At this

4:53

point, as I grew older, I

4:55

obtained licensing, became a realtor. After

4:57

becoming a realtor, I became a

5:00

broker. I'm actually the youngest broker

5:02

in the Southeast region with my

5:04

own brokerage flooded the realty.

5:06

And from there, we've kind of

5:08

expanded and it took it into

5:10

a different lane. From the investment

5:13

side of real estate, you know,

5:15

we have over 100 plus units

5:17

throughout the Southeast that we personally

5:20

hold and own advantage. My brother's

5:22

also a realtor. And we also

5:24

are licensed general contractors. license insurance

5:26

agent and also my cousin is

5:28

a license mortgage broker. So we

5:31

really encompass real estate as a

5:33

family business, but more so a

5:36

way for us, a fellowship and

5:38

reach the community through creating

5:40

wealth and uplift in our

5:42

community. Wow, that is exactly where I

5:44

brought you on this show. 25 years, he

5:47

just straight out the box sale. 25 years

5:49

old, I've been in real estate for 25

5:51

years. Right there you got my attention right

5:53

there because you don't go in like okay

5:55

really really Justin and then you start telling

5:58

me your background look reason I say because

6:00

my mom and real estate. Everybody around

6:02

me, a brother in real estate. So

6:04

it's like, you know, like any business

6:06

that we always talk about in the

6:09

black community, we don't have like a

6:11

relationship. We don't have a voice as

6:13

to why we should plan our future.

6:15

Why are you doing this? And you

6:17

come out the box and this is

6:19

why I do what I do and

6:22

why I'm good at it. You're good

6:24

at it because you have a history

6:26

and you have relationships and you have

6:28

an ability to go and seek out

6:30

advice. Is that what your driving force

6:32

is this or you just really like

6:35

real estate? I think that for me

6:37

it's the job and force of a

6:39

combination of two. I have the history

6:41

in it but I also have been

6:43

exposed to it personally to kind of

6:45

see what real estate does and how

6:48

it impacts our communities. I mean when

6:50

you think about things and the sense

6:52

of literal sense of... I have to

6:54

live somewhere and most people's biggest expense

6:56

is going to be where they live.

6:59

And flipping that expense into an investment

7:01

that pays you, I think is very

7:03

much so interesting. I think that is

7:05

something that everyone should know about. So

7:07

I became kind of obsessed with it.

7:09

Like I want to know every aspect

7:12

of it from lending to insurance, to

7:14

finance, to construction. And took that and

7:16

ran with it because of the sense

7:18

of... The real wealth is created through

7:20

real estate and Mark Twain say the

7:22

best you want to buy real estate

7:25

and buy land because they aren't making

7:27

anymore. So when you are able to

7:29

monopolize in the sense they create that

7:31

wealth and networks for yourself and for

7:33

your family, it's like a win-win. You

7:35

know you could rent and make someone

7:38

else rich or you could build wealth

7:40

and own an asset that can be

7:42

passed on from generations to generations. Right,

7:44

because my whole thing is that, like

7:46

you said, that the guard ain't put

7:48

more land out there, you know, they

7:51

might have a volcano, they might extend

7:53

the land into the water, but that's

7:55

just unlivable, okay? So, correct. So when

7:57

you look at the whole process, the

7:59

thing they captured... imagination when I saw

8:01

looking at your resume was your youth.

8:04

And I say, because you know when

8:06

people sell homes, they look at a

8:08

certain age, you know, I bought enough

8:10

homes to know that I've never met

8:12

a realtor 25 years of age. And

8:14

so how do you deal with that

8:17

stereotype that you have to be, first

8:19

of all, most Wilters in the business

8:21

are white, okay, that's going to be

8:23

real about that. And then they also

8:25

tend to be, I like to say

8:27

plus 35 plus 40. in the business

8:30

so they want to be a little

8:32

season so when they talk about homes

8:34

they're talking about property you want to

8:36

get a sense that they've lived in

8:38

a home they've lived a life to

8:40

understand why I would want to live

8:43

in this place as you're you how

8:45

are you able to supplement the relationship

8:47

with an older person who's trying to

8:49

buy a home I mean I think

8:51

that you have definitely addressed the elephant

8:53

in the room right this is a

8:56

race This is an industry that is

8:58

not dominated by our reasons, but you

9:00

know, primarily white European industry. Age is

9:02

definitely something that has been a hurt

9:04

or a barrier. I think that in

9:06

my position, I always had the thought

9:09

process of, you know, if you educate

9:11

yourself and can articulate what it is

9:13

that you're looking to do and how

9:15

to do it and then back it

9:17

up with the credentials and the knowledge

9:20

basis, once someone speaks to me and

9:22

here's Talk, they automatically know, oh, this

9:24

guy knows these things. I want to

9:26

circle around the realtors that you're talking

9:28

about. That's the typical realtor because they

9:30

don't know the full facets of real

9:33

estate. They understand how to buy and

9:35

sell. They don't understand development. They don't

9:37

understand the aspects of property management, appraisals,

9:39

appreciation, economic disparity, and things to that

9:41

nature that I've experienced. So I think

9:43

that although I'm a youth and I'm

9:46

25. The way that I really have

9:48

my I guess navigated through that and

9:50

been able to deal with clients of

9:52

all races and ages was you know

9:54

giving them the true and honest feedback

9:56

of hey I don't have the 20-year

9:59

experience in this market that someone else

10:01

will have but I do have a

10:03

25-year experience of the full industry and

10:05

how it works and also I've always

10:07

kept myself with the most recent knowledge

10:09

information on the different programs information on

10:12

the trajectories of what's going on and

10:14

being really active and involved in the

10:16

community most importantly. And you know, I

10:18

think that as people go on, they'll

10:20

see that if you understand that age

10:22

does not always equate to wisdom or

10:25

knowledge, you'll be able to go further.

10:27

I'll spend my time investing in education,

10:29

studying, being a student of the game,

10:31

and teaching. And that has brought me

10:33

so many people. I mean, if you

10:35

really are able to influence others, they're

10:38

going to pass the word. And that's

10:40

how I've been able to obtain big

10:42

and out club membership from day one.

10:44

you know, while working nine to five.

10:46

Really just that word of mouth, just

10:48

that grinding commitment. He's 25. He's in

10:51

an industry that's usually dominated by somebody

10:53

that does not look like him. Some

10:55

definitely somebody who's not his age. But

10:57

what I what I'm enjoying when I'm

10:59

listening to this conversation with you is

11:01

about when I look at, you know,

11:04

I've been fortunate about homes in my

11:06

life, you know, and none of I

11:08

was just more concerned about that home

11:10

I was buying. And not, you know,

11:12

I would go, here was my rule,

11:14

I would, whenever I looked at a

11:17

home, I would drive at different times

11:19

of the day, okay, because you can't

11:21

pick your neighbors, okay, so you need

11:23

to know what's going on. You know,

11:25

or, I've had some horror stories, my

11:27

very first home, you know, I didn't

11:30

know the guy had chickens, you know.

11:32

Next day I know I got chickens

11:34

all in Manoa. I didn't know the

11:36

little, my neighbor let his little kids

11:38

run around half new. I didn't know

11:41

that. Okay, because I didn't do my,

11:43

I was more concerned about buying that

11:45

home. Okay, I didn't realize. that it

11:47

was a lot of traffic because I

11:49

didn't go in different times of the

11:51

day. You know, I didn't realize they

11:54

did, they threw parties on my block

11:56

on a regular basis. And so, so

11:58

is that the type of research you're

12:00

talking about when you are talking to

12:02

a potential customer or you're talking about

12:04

the numbers game? Justin. So, you know,

12:07

any really thing, we have two approaches

12:09

to it. As a licensee, believe it

12:11

or not. It's kind of legal for

12:13

us to talk about an area or

12:15

who lives there or what they look

12:17

like or what they do. Wow. Due

12:20

to the federal fair housing law. But

12:22

when it comes to being a person,

12:24

in my personal opinion, I tell people

12:26

just what you said, I think you

12:28

should go there during the war that

12:30

you live in. I think you should

12:33

look at the type of vehicles and

12:35

the type of house that are around

12:37

and how they are up kept because

12:39

that does tell you a little bit

12:41

about the community that you live in.

12:43

I also tell people all the time.

12:46

Hey, I think you should research the

12:48

local schools around here and look at

12:50

what they look like. And what is

12:52

the median income for these areas? I

12:54

don't think that data tells you everything,

12:56

but sometimes when you look at the

12:59

physical areas, like I said, the upkeep,

13:01

as well as driving around it, and

13:03

I can see what it looks like,

13:05

the crime ratings and reporting for that

13:07

particular block, the area, it'll give you

13:09

a whole more realistic view of what

13:12

you're looking at. Because the numbers are

13:14

going to be there, I mean, any

13:16

house you buy for the most part

13:18

is going to go up. It goes

13:20

down, but it goes back up. It's

13:22

just more so about that comfort. Like

13:25

you said, I ask people when I'm

13:27

showing houses, if I see a neighbor

13:29

outside or something, I'll ask, hey, how's

13:31

the neighborhood? You know, for my client,

13:33

with my client right there. And I

13:35

ask them to solicit feedback on the

13:38

people that live there, because believe it's

13:40

because believe it or not. They will

13:42

tell you the truth. They will tell

13:44

you the truth. They will tell you

13:46

the truth. But this block is good.

13:48

Well, now you know. You know what

13:51

I mean? So let you get a

13:53

real description. Well, I tell people all

13:55

the time, but like I see. You

13:57

know, you buy that house. Either a

13:59

15-year mortgage, you're fortunate, or a 30-year

14:02

mortgage, if you're fortunate. As long as

14:04

you get a house, that means that

14:06

you can build equity in your life.

14:08

You can have a legacy that you

14:10

not only can build for yourself, but

14:12

potentially for your family. But the bottom

14:15

line is that when I'm talking to

14:17

you, Justin, what is your favorite part

14:19

of being a realtor? I do hear

14:21

a lot of excitement in your voice.

14:24

You know, honestly, as I started

14:26

out to be a realtor, I

14:29

thought the biggest thing to me

14:31

was that ownership. So for me,

14:33

I bought my first house, my

14:35

residence residence, two and a half

14:38

months after I graduated college. So

14:40

the first day I was eligible,

14:42

I purchased the home, and I

14:44

was one of the guys that

14:46

sat down and really looked and

14:49

found out what I had to

14:51

do. I got a house in

14:53

Georgia dream, I got $15, I

14:55

got $15, and I said, oh,

14:58

man. You get a tax break

15:00

for all the interest you pay

15:02

on a mortgage, mostly a mortgage

15:04

and interest. So I get that

15:07

back at the end of the

15:09

year, and I can have all

15:11

other types of write-offs and investments,

15:13

and man, get an opportunity to

15:16

have an investment and be able

15:18

to borrow a gain, instead of

15:20

paying a rent that I have

15:22

nothing to get, but it goes

15:25

up every couple years for someone

15:27

else. That, to me, motivated me

15:29

more than anything. And as I

15:31

was able to target the massive.

15:34

when I was trying to buy

15:36

my, you know, $40, $50,000 a

15:38

job, I'm low-hanging fruit. Nobody wanted

15:40

to sell to me. This kid

15:42

isn't serious. This kid doesn't make

15:45

a lot of money. He doesn't

15:47

have no tax returns. So no

15:49

realtor really wanted to assist me,

15:51

to be honest with you. Even

15:54

the black rotors that were prominent

15:56

or appeared to be prominent. They

15:58

wanted to deal with the celebrities,

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16:03

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16:05

appeal to the regular people. I

16:07

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16:09

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10% off your first month. That's

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better help. h-e-l-p.com/money making. Hey guys,

20:38

it's Matt and Leah from the

20:40

Grown Up Stuff podcast. Matt, what

20:42

even is this weather? I know,

20:44

I think it was sunny and

20:46

snowing at the same time yesterday.

20:48

It's crazy. I have to keep

20:51

my sunglasses and my snow boots

20:53

in my car at all times,

20:55

but you know how I make

20:57

sure my car can handle it

20:59

all? Snow boots for your car?

21:01

Sort of, but no. I make

21:04

sure my car can handle it

21:06

all. Snow boots for your car?

21:08

Sort of, but no. Sort of.

21:10

Ask for Pensoil Platinum at Firestone

21:12

Complete Auto Care. Pensoil, Long May

21:14

We Drive. Welcome back to the

21:17

Moneymaking Conversations Masterclass hosted by Rishan

21:19

McDonald. Moneymaking Conversations Masterclass continues online

21:21

at Moneymaking conversations.com and follow Moneymaking

21:23

Conversations Masterclass on Facebook, Twitter, and

21:25

Instagram. And my favorite part about

21:27

it is giving them a new

21:29

way of life to create that

21:32

legacy. and provide that reassurance and

21:34

investment vehicle because there are people

21:36

here most of my clients in

21:38

the beginning were teachers janitors police

21:40

officers bus drivers these people work

21:42

for 30 40 years in rent

21:45

and pay rent on time every

21:47

month but again we're talking to

21:49

Justin Lee he's letting you know

21:51

if you have your game together

21:53

it doesn't matter what age. You

21:55

have to plan it hard, set

21:57

your goals, and deliver. Plus he's

22:00

working on, like I say, a

22:02

legacy. His family, his mom, his

22:04

peer group around him, supports him,

22:06

allows him to build a dream

22:08

and help people have a better

22:10

tomorrow. I'm speaking of Justin Lee

22:13

and real estate he's earned membership

22:15

in the million dollar club. He's

22:17

a graduate of Moore Hall College,

22:19

got his NBA from LSU, a

22:21

member of mega sci-5 fraternity and

22:23

incorporated. More importantly, he's changing the

22:26

game. You changed the game by

22:28

being prepared. Before we get into

22:30

an extended conversation with him, we

22:32

have a caller right now, the

22:34

young, and from Forest Park, you're

22:36

on a call. You have a

22:38

question for Mr. Justin Lee? Yes,

22:41

I do. Can you hear me?

22:43

Yes, we can. Okay, great. So

22:45

I'm a senior citizen. I actually

22:47

bought my house through NACA about

22:49

10 years ago, but it needs

22:51

lots of repairs. I got a

22:54

great interest rate. It's at 2.6,

22:56

so refying would be a terrible

22:58

idea, just would triple my mortgage.

23:00

And I don't know how to

23:02

go about finding or getting funding

23:04

for needed repairs, electrical things that

23:06

really need to be done with

23:09

the house. Justin. Okay, so you're

23:11

asking, how could you get the

23:13

repairs done without looking at putting

23:15

out equity in the house? Right,

23:18

or what are my options? Because

23:20

I have such a good mortgage

23:22

rate right now. I just don't

23:24

have the money to do all

23:26

the things that need to be

23:28

done with the house to bring

23:30

it up to par. It would

23:32

appraise very low with all the

23:34

things that need to be done.

23:36

Which state is going? Georgia? Okay,

23:38

you're in Georgia. I might have

23:40

missed that part. So, well, as

23:42

mentioned earlier, I'm a license contractor

23:44

as well. And I would love

23:47

to connect with you after a

23:49

call. But in general, right, there

23:51

are options to facilitate repairs to

23:53

the home. To your point, if

23:55

you were to refinance the entire

23:57

mortgage, then you would be subject

23:59

to a... probably triple the rate

24:01

that you have now somewhere in

24:03

the sixes or seven. So I

24:05

wouldn't recommend that option. A second

24:07

option is what you call a

24:09

second on the home, I'm not

24:11

sure the knack of parameters on

24:13

that, but you could get what

24:15

you call a home equity line

24:17

of credit, which is simply a

24:19

credit card attached to the equity

24:21

of your home, in which allows

24:23

you to borrow against it only

24:26

as needed to complete the repairs

24:28

that you need, you could then...

24:30

Pay that down over a time

24:32

of 10 years or 5 years.

24:34

It's an interest-only payment, so it's

24:36

significantly less, and that will give

24:38

you the option to tap into

24:40

the equity of the home instead

24:42

of getting an additional credit card

24:44

or something to that nature. Then

24:46

you could also look at credit

24:48

card options. Or I would also

24:50

recommend outside of those of taking

24:52

our debt. You could go to

24:54

the habitat for humanity. and they

24:56

have local programs that people come

24:58

out and volunteer to make repairs

25:00

to these types of properties at

25:02

a very very low cost I

25:05

mean significantly low cost and if

25:07

you would like more information on

25:09

that like I said we connect

25:11

after the call but those are

25:13

my general advice either habitat for

25:15

humanity home equity line of credit

25:17

and then also traditional credit cards

25:19

with no interest for the first

25:21

18 months. They have a lot

25:23

of promotions on right now for

25:25

credit cards for credit cards. Great,

25:27

thank you so much. I appreciate

25:29

the call. Now I went to

25:31

Justin, and handling the question like

25:33

that, first of all, fantastic job

25:35

that we handled that question. Secondly,

25:37

there are a lot of people

25:39

out there trying to figure out

25:41

the next step. Out of the

25:43

call offline who called and asked

25:46

this question, does Justin work with

25:48

commercial real estate? Do you work

25:50

with commercial real estate? specialty. As

25:52

mentioned, I'm a broker. I have

25:54

a brokerage. So we are licensed

25:56

to do all aspects of real

25:58

estate. Professionally, I primarily deal with

26:00

commercial files one-on-one. from investors to

26:02

business owners looking to start businesses.

26:04

And we facilitate the sourcing of

26:06

the location as well as the

26:08

location for them, as well as

26:10

the funding. So 100% knowledgeable in

26:12

the full start to finish in

26:14

commercial real estate. Now there's this

26:16

interesting conversation there, because you have

26:18

home real estate, I'm hoping I'm

26:20

using the right term, and you

26:22

have commercial real estate. How are

26:25

both properties valued or appraised? So

26:28

commercial real estate is going to

26:31

be appraised based on its income,

26:33

which is called the cap rate.

26:35

So the capitalization rate. That's pretty

26:37

much the net operating income divided

26:39

by the capitalization rate for that

26:41

area. And that's going to just

26:44

be set out based upon its

26:46

income and what other similar properties

26:48

in the area are bringing in.

26:50

Whereas residential properties is not based

26:52

on income or how much you

26:55

can rent it for, but solely

26:57

based on the sales of other

26:59

properties in the area. Cool. We

27:01

have another call on the line.

27:03

That's Austin. He's based here in

27:05

Atlanta, Austin. You're on the call

27:08

with Justin Lee. And you're speaking

27:10

to Roshan McDonald. How you doing?

27:12

I'm doing well. How about yourself?

27:14

Good. What is your call? Well,

27:16

I wanted to call as Justin

27:19

a question about multi-family syndication. I

27:21

really have been doing a lot

27:23

of research on that. And it's

27:25

something that I'm highly interested in.

27:27

So I just want to see

27:29

if he had any insight on,

27:32

you know, like. Forming a syndication

27:34

and what does that look like

27:36

from start to finish for a

27:38

deal briefly? Okay, so I can

27:40

hear you briefly. So you're asking

27:43

about multi-family syndication. So I'll address

27:45

it first syndication is the notion

27:47

of compiling funds or background or

27:49

experiences with a group of people

27:51

in purchasing a subject property. So

27:53

when you see the big purchases

27:56

downtown of apartment complexes or commercial

27:58

strip malls like we were just

28:00

talking about. Those are typically syndications

28:02

where I may have 800 credit

28:04

score, but I don't have cash.

28:07

Whereas someone else may have the

28:09

cash and another person may have

28:11

the tax return. We all combine

28:13

together to prove our net worth

28:15

to be eligible for a loan,

28:17

whether it's private or conventional funding,

28:20

to obtain and purchase a property.

28:22

That is something that has really,

28:24

really been used in other communities.

28:26

It's something that I have implemented

28:28

in the minority communities. We own

28:31

several multifamily developments, as mentioned, we

28:33

own over 100 units, both residential

28:35

and commercial, that are primarily done

28:37

through syndication, where a couple of

28:39

my friends, family members, fraternity members,

28:41

Morehouse Brothers, have pulled together our

28:44

funded assets to further expand the

28:46

portfolio. would simply just use and

28:48

what you got. You may not

28:50

have a hundred credit score, but

28:52

you have a job that you've

28:55

been working that gives you a

28:57

W-2, well that is worth something.

28:59

Your friend might have something else,

29:01

like the cash or a trust

29:03

fund or anything like that. Once

29:05

you pull together with one person

29:08

does not have, the other does,

29:10

and y'all build it and connect

29:12

and you grow. And that creates

29:14

your own fund. You create your

29:16

own bank. That is syndication. podcast

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chat. Here's Better Help head of clinical

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operations, Heshoe Joe, discussing who can

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benefit from therapy. I think a

34:44

lot of people think that you're

34:46

supposed to be going to therapy once

34:48

you're like having panic attacks every day,

34:51

but before you get to that point,

34:53

I think once you start even noticing

34:55

that you feel a little bit off

34:57

and you can't maintain this harmony that

34:59

you once had in That

35:02

could be a sign that maybe

35:04

you want to go talk to

35:07

somebody. There's always a benefit in

35:09

talking to someone because we can

35:11

all benefit from improved insight about

35:13

ourselves and who we are and

35:16

how we behave with other people.

35:18

So if you're human, that's

35:20

like a good indicator that you

35:22

could benefit from talking to somebody.

35:25

Find out if therapy is right

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for you. Visit betterhelp.com today.

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That's better help.com.