This is Do the Talk podcast. This is your real estate podcast, where we teach regular people just like us, me and Ibrahim, how to invest in real estate. You keep in mind this is not a get rich quick scheme. I have to talk in rough work or it's to work. If you're looking for a get rich quick scheme, I would say no. Looking for a get-rich-quick scheme, I would say no. Something that has the standard test of time from before, right now, and it's going to do the same in the future, so you will need to be patient with it to actually work for it. My name is Ahmed Lawal and my co-host today is Ibrahim Ojani. Ibrahim, how are you doing today?
Speaker 2:I'm doing very well. Thank you for asking. It's another Friday. We've been coming here more than six months now.
Speaker 1:if I'm not wrong, it's going to be a year in like four weeks or five weeks.
Speaker 2:Great, I'm actually underestimating how long we've been doing this like four weeks or five weeks, right, I'm actually underestimating how long we've been doing this. So you know, it's very interesting that we've been on this journey to pass the information out there, educate our people and also, in that process, we are gaining more knowledge every day and day because we are forced to do research, forced to gather this valuable, forced to get out this valuable knowledge so we can come on this podcast and share with awesome audience. So we've been grateful doing this and we want to extend that gratitude to you guys for watching our podcast and we want to encourage you to subscribe, like our video, share to your friends, your family, your neighbor, your coworkers. It's not easy. You know how it is, especially this is Ramadan season. But we come out here because we are dedicated, we are passionate about passing this knowledge, we want to grow and we want to learn and grow together. You know we don't want to leave anyone behind as much as possible.
Speaker 2:We are trying our best to make sure we all know how valuable, how liberating real estate can be. If you focus on real estate and you are dedicated, passionate, it's going to take care of you and your family forever. It has been proven, tested, it has been written about. It's all over. Just make a research Real estate is the most tangible and the most sustainable investment you can do. It's there. So today, amanda has already told us it's not a get rich quick scheme. We just want to make sure you know that. But if you do the talk, you learn with us, you grow with us. We are going to be successful together. We have an interesting topic today, and is it okay to buy an investment property first? Ahmed, do you want me to get start the whole thing or you? You?
Speaker 1:If you're ready, rahim go. I'm not ready.
Speaker 2:That's fine, that's fine. So is it okay to buy an investment property first before you buy your primary resident or another kind of property, maybe second home or anything like that or anything like that? So it is an interesting question because, naturally, for someone like me who loves real estate investment, who is very passionate about it, I would tell you it's 100% okay, 100% okay to buy your investment property first before you buy your primary resident. Now, we don't want to make it look like you buying your primary residence first it's a crime or it's a bad idea. No, that's not the point. Buying an investment property might give you an edge, though might put you in a better position. Now my message I really want this message to resonate to young fellas, young men, young guys, young women, young ladies out there, just younger than me or even older than me that buying an investment property might be a better idea for you first, might be a better idea for you to do as a first housing you're going to get. Then, when you are ready, then you go to your primary resident. I'll give you some example, or a kind of paint, a loose scenario, and see if it applies to you.
Speaker 2:Now there are some people out there. They've worked hard, they've been doing the job for so many years, have good income, and this person is 21, 22, 23, up to like even 40 years old. This person still believe that he or she needs to wait. That person has a down payment. The person have saved enough. Okay, down payment is not the question or the concern at this point. But this person is waiting for various reasons and I'm going to give example of those reasons. But first of all, this person is waiting just because this person wants to achieve something. Maybe in the next one or two years, this person will buy his or her primary residence, or three years. Now, what are some of these reasons that an individual might decide not to buy investment properties or even a house? First, some of the reasons are, let's say, this person is a female, she's dating somebody and they are planning in the next three years or two years because she wants to get married for us before she buy our investment property or even buy a normal home that she will stay with our partner, or she's waiting for our partner so that they can buy together. Okay, however, this person has money in her account out of this down payment. This person is ready to go financially. Only thing is she's not ready to start paying mortgage for a primary resident because she's going to get financially. Only thing is she's not ready to start paying mortgage for a primary resident because she's going to get married and usually the partner pays or they pay together. Okay, that person.
Speaker 2:We want to let you know tonight that if you are that person, you can actually buy an investment property because it actually helps you, not hurt you. If you buy a good property, you buy in a good location, you talk to a property manager, you talk to a real estate agent, you plan ahead, you go for a right property in the right location and with the right strategy. It's going to help you Because, look at it this way, you buy a property for $200,000, a good property in a good neighborhood, because you follow a real estate that knows how and he or she guided you and you are able to buy a good property. Now, before you make that offer, you seek the knowledge of a property manager that knows how, that knows that location, that knows the potential in that same property, and because you are guided, you are informed, you buy a good property. This property is now cash flowing between $600 to $1,000 every month. It can be more than that. Depending on what strategy you're going for. It can go as high as $2,200, $2,400. And I'm mentioning this because I'm witnessing it, so I know how far it can go. It depends on what strategy I'm experiencing it rather, so it depends on what strategy you are doing. So let's say you are getting, you know, $1,000 a month. This property is getting paid for by a tenant. This property is getting paid for by tenants.
Speaker 2:Now you have to wait one or two years before you get married, before you guys now buy your own primary residence which is okay, we have nothing against that. It's good. But the fact that you are getting $1,000 every month times 12, that's $12,000. This property is appreciating as well. Now, when you are ready to buy a normal primary residence, are you aware that you can actually use that $12,000 as an income? It will be an additional income to you, especially if you can wait two years, which is exactly the scenario I'm painting right now, that you want to wait two years or three years before you get married. So technically it's going to work for you because now you have additional income. That's how powerful it is and the property has appreciated for the past two years. Now it's not hurting you because you have one property that is well managed. You are getting $12,000 a year. Now that $12,000 is an additional income to you.
Speaker 2:Let's say you are making $60,000, $50,000 before. Now they look at your income as $70,000. Now you have more power, more purchasing power to buy a bigger house, if that's what you and your partner choose to do. So is there any side effect to that? I don't see any. In fact, it's a good thing for you and your partner because now you have an investment property and if you choose to buy a primary residence, you guys have two houses From there. It's going to motivate you because now you see how it is. You see you are making money Before you know it. You're going to scale up. You guys are going to scale up together because with this scenario, now you are married after two to three years, now you guys can buy more properties.
Speaker 2:So there are some cultures that kind of they want a female to get married for us before. They have to wait for their partner before they can buy a house, before they can really invest their money into a long-term business and everything like that. But the good thing about beauty of real estate, especially in the US, is that you are not stuck Like buy a good property. If the situation calls for it, you can actually refinance or sell that property. It's still going to be a win-win for you. Rather than keeping your money in the bank with no appreciation, the bank is using your money they lend your money out to as your property, as your property, buy another property making money with your money. It's going to be sitting right there talking to you on the podcast, but he's actually making money with your money because he knows how to tap into that and get money.
Speaker 2:Yeah, we don't want to be just making money from your money. We want to teach you how you can make money from other people's money. So we hope you guys come in on this podcast. We want you to keep coming and share this with your friends, share with your family, because these are not valuable information that it's going to financially set us free. We're gonna be free financially. We're gonna be independent.
Speaker 2:Just because the system we all know how it is in this country, where you have to clock in, clock out and you have to, so so time you have to be at work and all that well, there's nothing wrong with that for the meantime, because you need that kind of system to get you. It's a part of like disciplinary. My daughter, my daughter's on a journey yeah, you can go. Sorry, I'm on the podcast, so it is a way to get us on our feet and also it helps us to set up that financial freedom, because we need that income as a backup when we start into real estate investment without having a backup, a kind of a steady income that will keep you floating Because of course, we know that you have to.
Speaker 2:The process of buying the property, the process of setting it up for the kind of strategy exit strategy you are trying to go for, it takes some, might take some a month or some weeks to go for. It might take a month or some weeks and while doing that, you need to have that money rolling, like maybe from your nine to five, so that you can be on top of everything. We don't want you to crash just because you get into real estate business. No, so what am I saying here? I want everyone to understand that it is okay to buy an investment property first If you are not ready to buy your primary residence for any kind of reason, any kind of reason at all, it's okay, buy the investment property first. That will get you started. You are going to be making money from that property and while you are making money from there, it's also going to serve. It's also going to motivate you automatically, because now it's going to show you that this is a way to make money, because you're seeing the check coming in, you are getting used to that kind of business and it's just going to be a win-win for you and for your partner.
Speaker 2:If this is about you waiting for your partner before you get into an investment, if this is about you waiting for your partner before you get into an investment, now for some people they are not ready just because, oh, I'm trying, I'm right. Now I'm in Indian, indiana. Next two or three years I'm going to Florida or I'll be living in Michigan. Okay, that's fine. Buy a property in Indy like the same thing that I just I explained some minutes ago. Talk to a real estate agent, talk to a property manager. Buy property in india, start the business, start cash flowing, money every month. Now let's say fast forward. Next, maybe next week, next month, you have to go to that Florida or you have to go to move to that Michigan Guess what? You don't have to worry about anything. The good news is we have a property manager in-house. As I'm talking to you, asio property can take care of that for you. You don't even have to worry about go to your Michigan, go to your Florida. You are fine, because the property will be managed by a property manager that knows how you can cash flow. He knows how you can make the maximum profit out of your investment.
Speaker 2:At the end of the day, all you're getting is check and update. That's it. I'm sure nobody's scared of updating checks. You can get check and you know. Just get check and update. That's all you need. That's it. I'm sure nobody's scared of updating checks. You can get check and you know. Just get check and update. That's all you need. That's it. Now you'd be in Michigan. You do your business, do your thing there.
Speaker 2:In fact, matter of fact, what we have learned is that a lot of people, when they give Asian property their you know their investment, they are, they are motivated to buy another one. So I'm not going to be surprised if you say you want to buy, even though you're in Michigan. You want to buy another property again. I'm not going to be surprised, because you know that it's working for you. This person is getting you the cash flow that you need. And now, even though you don't live in Indiana, you'll be buying another one. Because I mean, who doesn't like good cash, cash producing asset, which is real estate? Nobody will say I don't like it. The only thing is people don't like the stress that is associated with it, especially if you don't do your assignment. But guess what? You don't have to worry about that. That's why there's a property manager that will do that for you.
Speaker 2:Now, can you in some situation, can you buy your investment property? No, your primary resident force? Yes, you can choose to buy that force. Now, if you buy a primary resident force, can you also buy investment property after that? 100%, you can do that. You also buy investment property after that? 100%, you can do that. All you have to do is to get your financing in a better shape or in a good shape. Make sure you have the fair credit that they are looking for. It doesn't have to be excellent, but you have to have a good credit just to get you there so you can get, because the bank or the mortgage company they want to make sure you are credit worthy, so they can borrow you more money, so you can invest that money Okay. So my answer to this question 100%. It is okay In fact it is more than okay to buy investment property first because the advantage is enormous, like it is very huge. It's going to, in fact, set you up for a better future.
Speaker 2:Because now I mean it's not random you see something that is working for you. You're making money from it. You want to do more. That's human response, that's our body, that's how it works. I mean nobody will see a good cash producing asset. It helps that a property manager is handling for you. You are making money every month. There's no way you feel like buying more and getting into that business.
Speaker 2:The more you do that, the more consistent you are, the more resilient you have in the business, because we know no business, especially real estate. It's not for right now. You cannot just do it today. You want to be a millionaire. No, you have to be consistent. Be there, sharpen your knowledge, work with people that they know how to help you to get to that financial freedom you are trying, you are striving to to get to. They will help you and you, being determined, you're being consistent, you will get there.
Speaker 2:So, like the normal or the the cultural thing of you have to get married, you have to move to, you have to wait for five years until you travel to I mean to, until you move back to florida or texas or arizona before you can invest. All those are old school, like it. Really it's really old. Now everything has changed because the system, you know the structure that is going to help you stay afloat, it's there now. That's why we have a property manager, that's why we have real estate agent, that's why we have investors, that's why we have wholesalers, that's why. So all the structure are there.
Speaker 2:All you have to do is to seek out the knowledge, tap those resources, go to people that have it. You don't have to go too far. Of course, you know that. Do the talk podcast. We are equipped with everything you need, anything concerning real estate. Just trust us. We got it. So when you come to us, we're going to set you up so you can get into that financial from easily, like seamlessly.
Speaker 2:I'm not telling you you're going to get there tomorrow. That's not what I'm saying. I'm just saying it's going to be easier because we know what it takes. We have been doing this. Of course, every Friday we come here, we share our knowledge. We believe in real estate Passionately. I love real estate. Then, of course, I won't be on this podcast with someone who does not love real estate, because I can't waste my time. I can't waste time on something that I made. Not just it's a real estate investor, it is a property manager, it is a real estate lover. If you tell me, I'll tell you I made anything now. You might not pay too much. But when you talk a real estate lover, if I tell you I made anything now, you might not pay too much, but when you talk about real estate, you will see that.
Speaker 1:That is true.
Speaker 2:Everything will change because he's passionate about it. So we are proud to let you guys know that. Anything concerning real estate, just talk to us. You don't have to wait to invest in real estate. There's always a saying or an adage that never wait to buy real estate. You have to buy real estate first, then you wait. And that's real, it's very real. So, ahmed, I touched on this.
Speaker 2:It's common, especially young ladies, they want to get married for us. They want to have the money. I'm not talking about people that are struggling. No, I'm talking about someone who is educated, someone who is making a huge buck, someone who is financially like, like, okay, in that situation, but she's thinking, because it's common, because it's normal, that okay, maybe I have to wait in the next three years when my boyfriend is ready. After that, then we'll buy one house then. But she has 80 000 in her account. She has 60 000 in her account, she60,000 in her account. She has $45,000 in her account. I can't stress this enough because I know it's part of the norm with African race. So what do you think about this? Do you think my belief or my own opinion? Do you think? Am this? What do you think? Do you think, my belief or my own opinion? Do you think I'm too biased or does it make sense?
Speaker 1:Thank you, ibrahim. I mean, you've dished us with a lot of knowledge. Let me shake body before I start it. So you really nailed everything.
Speaker 1:When it comes to should you buy first or should you buy resident first, there's no right or wrong answer to this. There's no. Oh, this is what you have to do first. This is how you should be done first. There's nothing like that. It depends on everybody's scenario, right? But one thing I wanted everybody to know is, if you answer yes to these questions that I'm about to ask you, then you might want to reconsider what you have believed before now. Would you take a thousand or two thousand, three thousand more every month, plus the work you are doing right now? If you can just make one decision, one different decision, one thing, just change just one thing would you take one thousand or two thousand more just by making that decision every single month? If your answer is yes, then let's continue.
Speaker 1:Real estate is a business. Forget about anything you might be thinking before now. Real estate is a business. So buying a house, even your primary residence, is a business. So buying a house, even your primary residence, is a business. I'm going to tell you how it is in a second, but just hear me out first. So buying an investment property that actually focuses on bringing you money first, like Ibrahim mentioned earlier, is even going to add to your credibility in front of bank, lender or wherever you might go. If you walk up to someone and you tell them you have 10 properties, 10 solid property, their perspective about you is going to change. First they're going to think you are disciplined First they're going to think you have figured out your life First. Another they're going to think you are disciplined First. They're going to think you have figured out your life First. Another they're going to think you have your finances under control. They're going to make a lot of assumptions just by saying I have 10 properties. So there's a lot of ways that we can look into buying our dream homes, dream home fine, we want to buying our dream homes, dream home fine, we want to buy our dream home. And we can actually buy our dream home by going through an investment, doing a deal. How can that happen? There's something called outstriking in real estate.
Speaker 1:Let me paint a scenario, just like Ibrahim just did for us. Let me paint another scenario, so Ibrahim just did for us. Let me paint another scenario. So let's say I am single.
Speaker 1:It is so much on single today because they have a lot of leverage that they underutilize. As a family person, as a business person, as a person that still has a natural vibe. I know how difficult it gets when all these little little things started coming in, so it gets a lot difficult. So single people have a lot of leverage. That doesn't mean if you are married or you have kids you can't do it. No, it gets difficult but it is doable. You can still do it. But it gets a little bit tricky because you have a lot of other financial needs, financial responsibility that you need to cater for. So it gets a little stressful. But if you are so determined, if you are so to it, you can get it done.
Speaker 1:But let me focus on this niche of people, like this set of people that are just coming out of college, got a good job already going, they're getting paid, they're just looking for the right partner, which looks like the right thing to do next. But how about, while you're waiting, while you are cutting, while you are in that relationship that you think is going to lead to that next step that you are hoping for, how about you get something that is, multi-unit, small multifamily, something below five units, is going to fall under normal financing, so it's not going to be separate or anything outside of school. When it comes to financing side, how about you use that opportunity of less responsibility now to get into what we call house hacking? House hacking is a method, is a strategy in real estate whereby you buy a small multifamily two unit, three unit, four unit you live in one and you rent out the rest. For me, I misunderstand. When it comes to if you have three bedroom, four bedroom, you can outside. You cannot sleep in two bedrooms. You cannot sleep even on your bed. You can only fit so much space. The rest of the rooms can be rented out and you collect the rent every month and you add maybe 100 bucks or 200 bucks or even. That rent might cover all your mortgage payment, cover your debt saving and you'll be able to live free in that house.
Speaker 1:When I'm saying multifamily, don't think this can only be done with multifamily. No, this can be done with every house, all kinds of houses. So just stay with me. If you're living in just that one room or that just one unit and you are renting the other side out, income is actually coming in for you by living in that your house, and when that time comes, you have to move forward, move on to something different. Maybe you get a job in another city, maybe your partner is, you're not married and you need to move to your partner's house, or whatever needs to happen. You can now rent out all that unit. You'll be getting that continuous money coming in. Now your cash flow is going to even skyrocket out of the roof and you will be able to maximize and make more money off of that house.
Speaker 1:So things like this set you up for a good financial life in the future, because now, instead of you paying $3,000, $4,000 outside of your pocket every single month, people are paying you $1,500 out of this money. Now you only have to add $300 to it. You are not only living in that house for cheap. You can now write off that house in taxes, which means you can now use that house to write off your W-2 job. Now that house is now appreciating the value of the house. That is why we encourage you to buy in a good neighborhood.
Speaker 1:The value of the house is now going up in such a way that when you are on, you see that your dream house you always wanted to buy. You can now refinance this house that is bringing you money. Take out some money and go and use it for damn payments somewhere else, or if you are serving, like someone that is hungry, someone that just always wants more, like me and Abraham, you can decide. You know what. I'm still going to live below my means and do what, and try to reinvest this money again. I use that same capital to buy another three, four, five units and live in one unit, rent the rest of it. Before you know it, you'll be counting $30, $4, $8, $20. And before you know it, you are now making $10,000, $15,000 a month, which allows you to get what To now quit your nine to five and live that freedom life you've always wanted. Guess what? That dream house that you think you want. Right now, you might not even want that dream house again.
Speaker 1:Your dream will now be I want to travel around the world. I want to be in Italy today. I want to be in Japan tomorrow. I want to be in Germany tomorrow. I want to travel around the world. I want to be in Italy today. I want to be in Japan tomorrow. I want to be in Germany tomorrow. I want to travel the world, I want to explore, I want to live my life to the fullest.
Speaker 1:But guess what? You are having 30,000, 10,000 coming here, 30,000, 15,000 coming here, with all these units that you have accrued within the space of five, six, seven years. But I guess if you decide to don't do all of this and you go with primary residence, that is not a wrong thing to do as well. But I'm saying, if you can only be having all this excess money coming in, would you take it? If you said yes, then why don't you do it the business way? I'm not going to say the right way, but the business way, because there's no wrong side or this side.
Speaker 1:Like I mentioned, even if you buy a single family house, you can still house. You buy a single family house, you can still house. So it's not as if it is limited to multifamily. You can buy a four bedroom house, live in one room and rent out the rest of the rooms. When she don't put on four-inch family. I put rented to travel. Rented to travel professional. These guys travel a lot. They need a place to stay. Insurance adjust that Travel a lot. They need a place to stay. Insurance adjusters travel a lot. They need a place to stay. You rent it to this guy. You make the box every month. You're living with professionals and they are paying you With those guys.
Speaker 1:I promise you they're going to cover your debt service. You might not be making any excess money, but they're going to cover your debt service. You might not be making any excess money, but they're going to cover your debt service. And guess what? Now you are saving thousands of dollars every month by doing the house-working method. So this is very powerful for the guys that are in their 20s. They don't have any string attached yet, because it gets tricky when you have a wife. You don't want to leave your wife with a stranger in the house, so it gets a little dangerous and we don't advise that. That's not so. That is why I said now is the best time to maximize that potential.
Speaker 1:In my opinion, it's just on top resources for our youth. But let's go back a little bit. I just painted that so that we can see the power in the topic that we are discussing today. Society plays a bigger part in our decision-making. What we see around us, what we see our friends do, what we see our parents do, play a huge part, but I want you to know that, because what friends do it a certain way doesn't mean that is the only way. Because your parents do it a certain way doesn't mean that is the only way. You just need to be open-minded and open your brain up for opportunity to come to find you and when you listen to a podcast like Do the Talk, where we do it live, so that you can ask your direct questions. By the way, subscribe to our YouTube channel. That would be very appreciative. We want to reach a lot of people that need to listen to this content and take action, just like Donald. It doesn't mean that is the only way to do it. There's so many different ways to go about things that are different.
Speaker 1:I always say our parents in the past might have made a mistake in their finances that we cannot have got to repeat in this generation. Nobody cares anymore. Back in the days, the government used to care about individuals, the citizen and other. There's nothing like that anymore. You have to carry your cross. You have to take care of yourself. Nobody's coming to save you. You have to save yourself. You have to take care of yourself. Nobody's coming to save you. You have to save yourself. So you cannot afford to make any wrong decision in this age and this.
Speaker 1:And guess what? We are so blessed times and days because it is getting a lot easier by the day to make money. It is getting a lot. Internet is. You can just post right now, I want a three-bedroom house and you will see people commenting oh, I have one, so it is so easy to connect with people. It is so easy to make this money than their time.
Speaker 1:So don't just think, because they do it a certain way, they use the resources they have back there. That is all they have. Now you have 10 times, 100 times more than what they have. It is not left for you to use, to put it into use, to actually make most of it. You cannot just rely on the way things used to be done. So society is a very big thing. Why? It is a thing that keeps us going, keeps us together. It is as risky as the vapor that it brings to us. So you don't think because someone does things the certain way and that is the only way. No, you need to explore, you need to ask more questions because guess what? We are talking about finances here, how to get out of the only way. No, you need to explore, you need to ask more questions, because, guess what? We are talking about finances here, how to get out of the rat race and get on the fast lane so that we can look back and be able to help a lot of people that need our help. And another thing is we are in a working economy where a government has a program that you just have to have a certain percentage of the house you want to buy and you will be able to achieve it. I don't think such programs have advantage of these programs.
Speaker 1:The question about how you can go, what damp payments you need, or anything like that, ibrahim can answer that question. He is a real estate agent. He closes houses every week. This is not about closing the house every year. This is someone that is a serial closer, let me call him that way. So he is a clear closer. He closes deals so frequently so you can reach out to him If you need someone to manage it, maybe.
Speaker 1:Oh, I don't want to cut grass. I don't want to take care of the tenants, because people management is in real estate as well. You need to be able to manage people contract or you need to be able to manage the landlord, you need to. If you are not the landlord, you need to be able to manage the landlord, you need to. If you are not the landlord, you need to be able to manage the tenants. If you are not the tenants, in this case Fitful management matters. So if you know you don't have the skills or you don't have the personality that it takes to be able to look at your tenants that you laughed with yesterday on the balcony that, hey man, where's my money, where's my rent? Give it to a property manager. Let them build that building for you.
Speaker 1:So there's so much resources you can use at this point and in it, and also your dream home can actually be the last. It doesn't have to be the first or outster your home. Everybody wants that dream home. I have my dream home as well. You can actually arrange it in such a way that all the investments you've made in the past are now paid for your dream home, so that you are living free. You don't have these excessive bills that you have to pay and that is tying you down to explore the world. So, ibrahim, I will let you answer this question right here. You said what about the immigrants that build homes back home. Yeah, immigrants. So sorry.
Speaker 1:What about the immigrants that build homes back home? I guess maybe, probably in Africa, europe. But when you say back home, you mean like in another country. So before investing in the US, there is a myth that building back home is an investment. How do?
Speaker 2:you see this, rahim. Thank you for that question. It's very interesting. I don't want to say it's a myth. I think the reason why he says it's a myth is because of what comes out of it. But this is how I want us to look at it. So it's becoming a meat or a disappointment just because of the let me just go straight African countries.
Speaker 2:The way when you invest your money in dollars towards a property in any of the African countries, the problem is because of, they say, economy unrest, they say economy fluctuation. They say currency devaluation all the time fluctuation. They say currency devaluation all the time. There is a lot of hardship in the country it affects. You might get a lot of cash flow, like in that currency, that country currency. However, the fact that a lot of African countries depend on foreign exchange, they depend on foreign currencies because we do a lot of importation, we don't export a lot, we do a lot of importation because of that, it kind of weakens the money. When you try to convert that money back to the US currency or in pounds or any kind of you know, the G7 currencies, it becomes a problem. But when you actually look at it, that idea of investing in another country is actually a good idea. However, you have to go to a country that the economy is sustainable, that there is a good judicial system, the security is good.
Speaker 2:I can give you a scenario. Let's say we are here in the US and you are from Kuwait. You can buy an Airbnb in Kuwait. You can invest there, like build property, use it for mid-term renting, you know, go to the tourist area, you are getting the Kuwait currency, or I don't even have to go far to Kuwait. You can, let's say, you invest in Canada, you invest in getting the Kuwait currency, or I don't even have to go far to Kuwait. You can, let's say, you invest in Canada, you invest in Europe, you have a property there, you are doing mid-term leasing and all that, all the money you are making. When you convert it back to dollars, you won't feel like it's a miss or a disappointment.
Speaker 2:But what are all the issues, mr Sakala? I guess what he's saying is that a lot of people do that and what comes out of it is mostly regret than win-win. I'm sure we've all have like a family or friends or auntie, uncle, that they will tell you I invested this amount in my country. I realized when I got there, this happened. Or whenever I change the currency to dollar, it has no any value. It's like wasting of time and, or maybe because of the hardship in the country, some people will not pay, and we have the same problem here. Some people will not pay and we have the same problem here where some people will not pay.
Speaker 2:However, the system the system helps you to get rid of the like. You're able to avoid it. First of all, the system is there that can prevent you like, that can help you screen out those kinds of issues. Okay, nothing is perfect. Nothing is 100%. You can still fall into that or experience that kind of situation. But the way the system is here, if you follow the right strategy, you have the proper property manager that knows how he's going to get that person out of that property before the damage. If getting to you the seller before you see the huge impact before he gets to you, he can do that.
Speaker 2:But imagine you are here in the US and you have a property back home. I can use any random country Kenya, nigeria, togo, whatever Ghana and the tenant is not paying the property manager over there. I'm sure there are good ones over there. However, the way the system is, the way the country is, that property manager may actually be the problem, but you cannot just run back home every minute or every 30 days because you have responsibility. You are bills here in the US, so you have to stay here and be on the phone talking to them and, trust me, there are a lot of situations where it's just when you listen to people or you see people experience you get discouraged from doing that. Just because it is not a 10 minute journey, you cannot stay there and monitor your business. So, to answer your question, I think because of the way the system, the way the country economy, the way things are looking over there, it makes it look like it's not the best idea.
Speaker 2:However, the act of investing in other country is not bad. You just have to look for a good country where you can find good revenue, where you can be able to sustain your business, like if you have any opportunity to invest in any of the g7 countries, any of the country that is doing well economically, you'll be fine. You have good property manager there, you are able to invest in their tourist area and everything. You're going to make money. We have a lot of people we, I mean because Amit and I we've made research. We watch the big dogs that are doing this business. A lot of them have investment in other countries too. They might team up and they buy a hotel and all that and they are making their money. So that idea to invest in another country, it is not bad. It's just that you have to look for the good country, the good property manager, the good area that you know is going to fetch you that financial cashflow that you are looking for or that revenue that you are looking for.
Speaker 2:So in this case, if I direct it to what I would say okay for me, I would say it's better you do it here first and be stable, be steady, be in the position where, if you invest in another country let's say you choose to do it in Africa because of you see, the vision and everything Okay, the fact that you are stable here. You are steady where you start. If anything should come up, anything negative, if the business goal sells, you are okay because you have that cash flow that is a backup here. The cash flow is going to keep you floating till you figure out how you can fix that problem over there or how you can quit that problem over there, because now you need cash flow. Even Even to quit business, you might need money to de-escalate everything or to settle everyone, because imagine somebody is working for you, the business is not going well, they still expect you to pay them and it's really fair to just. If that person is not the problem or they don't get good leadership or management, they still need to get paid because that person has family, has kids, has a wife. So what am I saying here? I'm saying that if you can establish in the US force, make sure you have enough income, you're getting good cash flow, you are stable. Then if you invest out of the country, you'll be fine.
Speaker 2:Look at our former president, for example, donald Trump. He has investment in many countries but, believe me, he makes sure he's good in New York. First he started in New York. Now, if he invests in another country, if that one is not working well, all he has to do is cancel that one and go on, because he has that cash flow that is coming in New York. So many. I mean we have a lot of people that are doing that Like. What I mean is that that is how people are doing it.
Speaker 2:You have to be steady in the country. You are where you can monitor your business, know how it's going. You are rooted in that country. Your business is going well Now. You can now spread out and when you spread out then you'll be fine.
Speaker 2:But you starting your first business. Let's say you are here, you want to start your first business in African country. You are not there to monitor it. You don't have a good manager, a good lawyer, a good operator. Most of the time it goes out, most of the time.
Speaker 2:So is it a myth?
Speaker 2:It depends on who you ask, but my personal opinion, I think you should invest in the US first and be okay before you spread to another country.
Speaker 2:Ahmed, that question is a very, very tricky question because a lot of people, just like the example I give about young lady, well-established lady, educated, pretty lady, young and ambitious lady that mostly from immigrant country I mean from foreign countries, especially African countries that we are used to like waiting to get married first before we do anything, even though the money is there, the resources there, the education is there, the financial down payment, everything. It's not a problem, but because of it's a norm to get married first, to have a partner first, before you do get into investment. It's almost like that If foreigners are coming to the US, they want to invest in their country first. So what makes Mr Sakala say that it's because he realized, just like we all know, that most of the time it goes out. So how can you advise people, or what is your opinion about this? So it looks like we have a glitch in the system. Yeah, sorry, it looks like you froze a little bit yeah, I think I'm back now.
Speaker 1:So my question to your country of you you don't have any investments in your way, where your physical location is a lot of time, especially part world, that we are from a lot of anything to show for anything to show the fact that the other country goes south? Like Ibrahim said, you are in soup. Like Ibrahim said, you are in soup when they ripen everything you sow because, guess what? You are working a security job here. You are pushing that money somewhere because it's a huge currency over there. You think you are making sense? No, you are not making any sense, because what's really come and they will pass the rest to you. Whatever remain is what they pass to you. If anything doesn't come out of it, then you don't get anything and before you get on the flight and go to check it yourself, they already damage everything. 9 out of 10. What other country investment brings is its money pit for you, where you will be dumping your money. Instead of it bringing money for you, you will be dumping more money into it. Nine out of ten, not all of it, but that is only if you've granted yourself where the economy is good, the economy is going up, how you have vapored to be here, why are you going back there? I mean, I don't say don't go back, that's not what I'm saying, but when it comes to investments, there's a reason why you come here to work in the first place. Okay, have you forgotten that? So why do you now make that money and instead of you, invest to retire yourself here first? Retire yourself here and you can do whatever you want. But you are going to that 9 to 5, that security job, that home job, home care, where? No, no, that is not how to do it. The best way to do it is to invest.
Speaker 1:Even if America doesn't have the best economy, you find where the economy is growing first, where your business can thrive. You invest there, you make money there, you can decide to do whatever. So my opinion is a lot of time. We just want to impress. That is why we do it. We want to show off. That is why we do it. A lot of time pressures from our old ones like oh, you've been to the US for 10 years, you've been in the US for 20 years, you have nothing to show for 80 years. What made us do it? But if you strategically like, because you invest where the economy is growing first you can decide. You invest where the economy is growing, first you can decide. So I'm going to give you an example. I have a client he is under our management and he comes to me what he makes here. If he can carry his property from Nigeria to US, he's going to make 100 times the money because he has a lot of property there, but every day he gets negative return. Why? Because you cannot change the currency. The currency is just sold out of. And another thing is people are quick to lose their job back there and when that happens, guess what? Guess who is not getting paid? You, and this is an investment that you do. So things like that cause a lot of discouragement in you investing. So I would encourage everyone to invest physically where you are, especially where the economy is very good and great, and after which you can then extend your wings.
Speaker 1:You see the people that are telling you you haven't bought a house in whatever country in 20, 10 years. They mean good. They actually mean good. Some of them are. That is why I said same thing. We need to use our brain this time around and don't fall a victim because they meant good. And I'm still in my security job, I'm still struggling here. If I dump my money there and I'm not getting any return, that money is gone. Instead of me dumping it here, I make a return that I can now use to invest over there. Of me dumping it here and make a return that I can now use to invest over there. So if you are not doing, sure you should be able to think through what I just said and see it that way, because you are guaranteed, if you do it right, you are guaranteed to make money here than over there.
Speaker 1:And just from experience, it always, always comes back to people realizing oh, that's that. So before you regret, think twice. The initial mistake we made in this generation is going to be you are going to be severely punished for it. We have passed those days where governments really, really care and they want to take you. Now it's all man by itself. So you need to sharpen your blade and go to farm Plant stuff so that you can reap it when other people are reaping their seed that is sowed. So you cannot depend on anybody. You cannot let anybody make. If it is your decision and it ends up wrong, you will not have anybody to blame, you will be like, okay if my decision, I stood by it and that's fine. Or if people push you to do what you don't like, you're going to complain all day long and nothing will change. So that would be my opinion, ibrahim. I don't know if you want to add to it.
Speaker 2:Yeah, thank you, wapku. We're about to round up, so I like that phrase. You need to go to the farm, plant some seed so you can cultivate when it's ready. I say, for the goodness, they don't have to go to a real farm anymore, they don't have to come into the real estate world and invest in real estate, which is the farm, and get your cash flow, your house appreciated and by the time you can leverage on the appreciation, get more loans, buy more property. It's no brainer. I mean, like I said, I see why Mr Sakala would say it's a myth. It's because a lot of times it comes to disappointment Because people go over there.
Speaker 2:They use their hard, hard-earned income, hard-earned income, and take it back to their country and invest their end Just because of the country. The economy is not steady. It's very instability in the country, security-wise, everything. It just messes your business up and maybe you manage to get some amount. When you convert it from that currency to dollars, it's like it's done Low return on investment, very low return. So the point, what we are saying here is invest here first. You have your kids here, you have your wife here, you have your family here or you are hoping to bring your family here, invest where you are, be steady, be financially rooted, let your business speak for you, let the cash flow speak for you. And when you're in that kind of situation, even when you buy property over there or you invest over there, even if the business goes south, you will not be paying, compared to someone who carries all his investment, all his income, down to that country His life savings.
Speaker 2:Yes, down to that country and invest and everything is ruined? Yeah, we don't. You are congratulations. I must say that you are coming to do the top podcast because we're going to tell you the way it is. We are using the life experience, what people are experiencing and, by the way, don't think we are talking about just Nigeria. We are talking about all the countries that are not doing well economically. We are not just. It's not, it doesn't have to be Nigeria, it can be Ghana, togo, it doesn't matter. As long as the country economy is bad, do not invest there.
Speaker 2:Anyway, tonight, ahmed, I believe our audience they realize, or they can hear us clearly and I hope it resonates with them, and we would like people to come here and testify and tell us okay, we appreciate you guys for all you've been doing and we've put into all the other what we've learned from Do. This Thought we've put into practice and it's yielding positively. Because we are doing this, because we are dedicated to bring this education to your doorstep, all we ask from you is to share, like our video, share with your friend, family, co-worker, and patronize us, talk to us, let us know. We are happy to help you, we are happy to guide you. We are happy to make sure you are in that successful path, ahmed what do you have to say?
Speaker 1:So real quick? I just want to thank our audience. We cannot thank you enough. We are just here shouting from the last one hour and you don't join. It can get discouraging, but seeing you guys here give us the power, give us the courage. We are not breaking our fast, we just get discouraging. But seeing you guys here give us the power, give us the courage we haven't broken our fast, we just from some, we just because we know you guys are here. That is what is motivating, so motivating us to keep going. Thank you, thank you, thank you. I cannot thank you enough, ibrahim. If people want to reach out to one of the, yeah real estate agents in Indianapolis.
Speaker 1:How can they reach out to you?
Speaker 2:Yeah, they can call me at 317-728-0213 or DM me at IB Realtors Just anything concerning real estate. I'm sure if I don't have the answer, I have a lot of resources around me. I will get you the right answer. Ahmed, how can they get to you please?
Speaker 1:Yeah, my number is 317-689-7075. That is my business line. You can text me, call me or you can. That's my Instagram. Andrew, on the screen, you can always, always, always chat me up. And don't forget, we stream this on Instagram live as well. So if you can join on YouTube, you can watch us live on Instagram every Friday. Thank you for joining and we will see you next week. Thank you, thank you.