Sign Montana Banking Agreement Simple

Industry sign banking montana agreement simple

hey welcome to the cardone zone grant cardone here every monday i come to you to talk about real estate how to find it buy it invest in it manage it what to do with it and now that we have the corona virus what is it covid 1917. 2020. the covid since the covid hit the commercial real estate scene today i want to talk to you about is this boomer bust post crisis what do you do i'll look at every sector office retail apartments you know how much i love apartments i look at residential i'll take your calls 305-865-868-305-865-8668 i was on a call uh friday with one two three four it was about 10 of us maybe 11 of us on a phone call thank you and um no no no the this is this is this is a resume i don't want the resume i want the notes this isn't for me and um i got what i need actually yeah yeah and uh these gentlemen that i was on the call with uh own 36 000 units 60 000 units another guy owns 180 000 apartments and we just had a little bit of a dialogue uh what are you seeing what's happening what's going on so rather than you guys just looking at the top you know the the header of google news or usa today or cnbc or whatever i can just tell you what these guys that are working deals owning deals buying deals out in the market what they're looking at um what they're saying okay and then you you can decide what i'm going to discuss here and just share with you is what i think happens during this cycle and after this cycle i know some of you out there might be wishing for bad news you're like oh i hope the market i hope this i hope it gets terrible and the real estate prices are going to go down i'll tell you exactly what to do in upcoming weeks on what to do with that how to start negotiating be on a list of of maybe uh deals that become issues how to get connected with banks and lenders uh that might be able to assist you in inventory or projects that that are coming up i am 100 positive pro post apartments after this covet thing ends and i'll explain to you why today but i'll also tell you because of my experience talking to these other people have access to a gentleman with 36 000 units his class a it's all class a properties uh he's got on his average rents over 2200 bucks a month and they were 94 collected as of april whether those numbers maintain maintain in may or not i don't know but i know that at 94 percent that's well above what the national report is and and well above what people predicted another friend of mine owns 10 projects he was 91 collected he would expect to be before this is over in april to be 96 collected collected means what i had an agreement with you to pay you and i did pay you this is despite by the way news saying uh that apartment owners can't evict their tenants another a friend of mine who owns uh 160 projects i own 26 or 27 maybe 28 projects count everything he owns 160 projects 60 000 units um mostly b stuff okay and and it was interesting because he says look it took the period of time that it took 2008 to get to the numbers that we're at we've already gotten two in three weeks which he liked that idea uh that was my big takeaway uh no that was maybe some water that was my big takeaway is that that it happened so fast that he's gotten to numbers that he can start dealing with now he does not know whether it gets better or worse lastly gentleman with 180 000 units 92 percent collected a's b's he's got it across the board he talked about his worst performing market what was doing well new york city's getting crushed blah blah blah all these guys are apartment owners okay so look this is what i think happens okay you got a number of things to look at right now if you're thinking about buying real estate right now you got to be thinking about okay where do i go next time you got a house single family home it's called single family residence this is post this is my analysis post going forward you got apartments like abba you got flipping is an activity you got office buildings uh the question will be will will people return to office uh the way they the way they were uh there's a big conversation about whether this happens or not there's retail retail which is what it could be like where the macy's store is in your town or it could be where the barber shop the strip center it's called the strip center uh we could we have industrial and i have a whole opinion on industrial why why it could be good and why it could be at risk uh i'm sure there's a number of other things we got storage oh yeah storage if you're in the storage business right now rvs rvs is another one right rv parks so i can start breaking this down in a number of different ways it's basically residential income office income uh and industrial income is the breakdown i might be leaving something out there but let me just tell you what i think happens here first of all the world will not come to an end folks if it will if it does come to an end you want to be in real assets you want to be in cash you want to be in bitcoin you want to be in goal you want to be in you want to be it don't matter what you're in if the world comes to an end let's face it it don't matter okay so some of you like are speculating i need gold if the world comes to an end uh gold will not help you it's going to be a zombie apocalypse johnny's in the house with me okay and uh so it's going to be the apocalypse so look if the world is going to come to a crucial end the investment type that you make will not matter okay now let's assume now that we're not going to come to an end there'll be some 7 billion people left on this planet what do they got to do every day just start doing the math here boom or bust post crisis when it's over okay uh uh i'm going to leave this one for last the apartments because i think you all know where i stand on that let's just take first of all housing okay uh your friends over at chase have already tightened up the house today in three weeks you now need to put 20 percent down on a house and uh you need a 700 beacon score this will crush homes if i don't live in a house what do i do don't answer the question just think about it call me 305-865-86668 okay office buildings we're at 16 million people unemployed and another what i don't know 100 million working from home do you think people are going to just rush back into office buildings 865 8668 call me let me know okay what do you think is going to happen there um rvs rv parks uh remote rentals what are they called rv parks mobile homes yeah yeah i couldn't even say it mobile man i told my daughters today i said you know we want to get a big we ought to get a big like million dollar bus uh two or three million dollar bus rent it and just travel from from here from miami all the way to my wyoming and montana and just can we can we even do that or is the virus that the i wear my mask everywhere i go i'm gonna wear my mask i'm gonna put my mask on get in my big ass rv and then pull into my camper pull into my camper place okay huh got it in white too all right let's see what else i have i have office i have uh uh what am i missing oh flips that's over done tell you guys tell you guys just go back and watch the other videos i've done on mondays stay away from flipping if you have a single family home you got any equity in it sell it right now okay don't buy a house do not buy a house i told you over and over and over again if you do buy a house get out of the deal right now sell it break even lose a little bit of money if you have to like like flipping stay away from it duplexes four plexes uh the gentleman on these calls the a properties right now under 2200 a month 1500 to 2200 are doing better than every other asset class in america today of every asset class in the real estate space you're watching this show because you're interested in real estate should you be invested in it yes you should because when this crisis is over folks imagine this person right here this is dave okay and let's say dave here dave just lost his job okay or dave got cut or dave watched a bunch of other people there's only a b and c that happened today because of the crisis a dave lost his job worst case scenario he lost his job okay b he got cut meaning his pay got cut or they kept him he he's left untouched that's the only three things that can happen to you in this virus you got your unemployed number you're unemployed let me just this is really important for you guys to know when you're making your investment i was telling these guys this on the phone the other day they said how are you making your who are you talking to i said who am i talking to i'm talking to dave how do you make your investments grant dave man i figured out what can dave do a dave got unemployed okay unemployed b b what could they dave got cut he went from 90 grand a year or 70 grand a year down to 50 grand a year he took a little haircut okay see he got he got spared but nobody got spared in this deal because even dave down here at see dave's like oh i'm still at risk right everybody's at risk right now right and it's not this this is not the only risk you can you can put that on you can put that on but you still got this other thing going on and if you're trying to invest in real estate then you got to be thinking because dave's not going to buy anything right now dave can't buy right dave is dave going to go buy a house right now his beacon score is going to go down not up his down payment's going to go down not up okay dave's not gonna go by okay and dave doesn't have an office building to go to so that route's cut off okay he's not going there he's not going there he's not going to go to an rv this guy needs to find a job right now he's probably going to hold on to his car to go select a a job let's say he lives in miami and he got let go let's say he got let go for my company i let him go what did he do he went back to his apartment where he was renting or his house where he was renting and he's trying to figure out where to go next 30 days from now i'm going to come up dave come on back to work bro let's roll what's he going to do he probably stayed in his apartment the entire time and figured out where he was going to go in the meantime he was possibly filing for unemployment that's possibly what he did right here he went and filed okay he's getting his first check in may that's good the timing's excellent on that we already got our april collections may everybody gets their first check and then boom i give him a phone call mid mate come back to work bro let's roll okay now he could have traveled back to mama's house that's possible he could have but the problem with him traveling back to mama's house is there's a quarantine on america bb bbb there's a quarantine so he actually wasn't able to leave miami and go back to low-life texas where he came from whatever amarillo is what i wanted to say but you know i love the people in amarillo there's no low lights there okay we got callers we got callers but don't be a staller folks look i know next week i'm going to do a show on how to buy real estate at bargain basement prices okay you got to subscribe to the channel hit the subscribe button man let me get some subscribes going on you guys are spending too much time watching tiger king y'all need to talk to y'all need to watch grant cardone i'll show you how to be the king of your own life without killing some animals okay so watch this got cut he got cut he was in a 1600 a month apartment he got cut he went from 90 grand a year to 60 grand a year what's he gonna do right now he's not gonna buy make a house he he's gonna make cuts now he could move down okay like i have a person working for me right now she's like hey grant should i move i don't know check it out she's like i'm paying eighteen hundred dollars a month right here i say okay well where you gonna go to you're gonna say 300 by moving across town uh no that's just ridiculous 300 is not a problem you get it so post post when all this when all this is over folks i bought an apartment building in 2020 in january i'm not selling this thing until 2030 just so you guys know the people that got the real players they were asking on this call they said hey what do you think the value implication of the real estate is i have 1.7 billion dollars worth of real estate okay somewhere i don't know 1.7 1.8 1.6 1.5 1 2 billion who knows what it's worth right in 2030 is all i'm thinking about they said what do you think happened to the value of your real estate i said uh nothing happened to it and they're like how can nothing happen to it grant we're going to have vacancies it's going to negatively impact the noi we have an economy in turmoil we have 16 million people laid off how could the value of your property go down or not go down i said uh because it's not for sale not for sale hey you guys now if you guys have something for sale uh how about how about we talk in about four months if you have something for sale and they're like why talk four months from now because you're not going to be ready to sell for four to six months you got look to make a deal you got to have a buyer and a seller you got it and the buy the buyers are ready the buyers are like let's go let's go let's go people would love to buy stuff right now but you don't have a seller yet because the market the sellers are scared to say hey i got something i'd like to sell because they know right now the timing would be awful to say hey i got something i'd like to sell because a bunch of amateurs many of you that are watching the show right now you're like oh there's blood in the water i'm going i'm going no do you way early man you way early you need six months nine months to find the people that are like tap tap tap tap me out tap me out done you got to wait till there's a tap out to there's capitulation in the marketplace guys that own the kind of real estate i own we ain't selling it man i ain't never selling i didn't over i didn't over uh debit i didn't over leverage the property okay we put 30 and 40 and 50 percent down on some of our deals i have unbelievable debt like low low three 3.15 on my last deal i could not get that debt today it would cost me an extra point in interest so pro going forward in the future who's the winner in this deal it will not be office it will definitely not be homes we're going to see the lowest home ownership in the history of the united states at least since 1940 that wouldn't be the history of the united states but since the industrial revolution we will see the lowest home ownership we've ever seen in this country mark my words i told you we would see the highest unemployment in your lifetime and i told you that a year ago okay without any kind of uh idea that we'd be wearing masks let's talk to our callers johnny hope this show helps hope it helps love to see your comments below love me hate me hey at least you got a comment with me you got john in new york john what's going on in new york john new york's getting like decimated would you agree with that hey grant thanks for taking the call i just wanted to come on thank you i got about 50 of my net worth in cardone capital right now and i you know came to the growth con and you know thank you for that that was an amazing experience yeah say that again so what what percentage of your net worth with cardone capital fifty percent kick it up johnny i can't hear you fifty percent a whopping you know it's over a hundred and six thousand fifty are you going to be on the call tonight i invited you to be on a call tonight a private call just for the investors uh yeah yeah i was on a call you did i think uh friday or two fridays ago that was great my one question for you so you are postponing some distributions right now when is that going to come back into swing i am an accredited investor yeah so so what what i did was we collect our collections uh for april were almost 94 okay that was april and so what i want to do he's asking about my distributions i i basically took said april may and june i am going to to uh set aside set aside our distributions to to make sure that we get on the other side of this being prudent so i took a very conservative action and said april may june i mean i have the right to change my mind i could say hey we're good in june and release t at money is being set aside just so you know it's not like it didn't happen the money is being set aside just in case this thing were to turn on uh the virus comes back we get shut down from uh mid april till july like like i had a guy tell me today we're not going to open back up until uh may 25th so then you start then i start worrying about okay i want to be able to continue to manage my property i have to take care of the asset itself i got to take care of the debt much of what you're reading today in the newspaper about oh uh the renter doesn't have to pay and the landlord the the owner doesn't have to pay their mortgage none of that is true folks everybody's got to keep paying you can't just not pay sooner or later somebody's got to pay the piper so that's all i'm doing i'm just going to hold off for like 90 days if i can get back to just full distributions before that i will remember i like distributions more than anyone because i get the biggest distribution just because i'm the biggest owner in the properties hope that helps thank you and i'll see you tonight i'll send you that link make sure he gets a link tonight because i'm gonna go into more detail on this tonight okay next caller all right you got raul in boston so so remember folks okay the the rent you collect your rent rent collected you got expenses okay you have what's called noi no i will take a drop right now because rent collected is going to go down the expenses are not going to change a lot in fact the expenses on some of these properties could go up could go up a tad just because we're having to manage people a little better okay so if the rent goes down the noi is going to go down when the noi goes down guess what value goes down today's value if you're selling i'm not a seller we have 10-year deals we buy a deal today we expect to sell it in 2029. so my noi goes down underneath the noi is the debt and this is the point i want to make the debt i have debt on the deals i want to pay my lenders now i have lenders that i'm like a grant we have a forbearance so you can delay payments for three months with fannie and freddie good okay i don't want to do that right now i want to make my payments and i want to distribute cash when i can so this leaves our cash free cash right here and the gentleman that called a second ago would say hey i know you're going to freeze distributions for for a couple of months that's right i'm going to do that so i can continue to fund my properties and take care of next caller johnny all right bro how you doing up there in the boston buddy he's on bro how you doing all right we're going to go to andre andre and johnny's doing a great job he's doing it all he's doing the video he's doing the cutting he's doing the prep he's doing the calls what's up buddy let's go canadian okay we're having some kind of difficulty with it aaron what's up canadian uncle g talk to me what's up yeah what's up with you man talk to me no not much not much so uh here's the deal i worked for a canadian reek my reit had an accepted offer so 2027 000 units 4.8 billion sales price i want to know the due diligence is ongoing will that deal go through will i keep my job no that deal will not go through right now well let me see i mean it could go through but 27 000 units across canada correct 27 000 no i don't believe that deal goes through right now and the reason i don't believe it goes through is i mean it could it could but i'd give it a 90 10 90 percent it doesn't go through it look i thought it was started at 30. that was on the phone yesterday 36 000 units uh 60 000 units and 180 000 units they're like all their deal activity is stopped they're like hey where time out just time out why because they're trying to figure out what happens in may what happens in june what happens in july because if the rent collected continues to go down the value goes down okay not between me and you let's say you're the buyer and i'm the seller me and you're good we're like no they're still worth it but i got a lender i got debt i got debt how many units did you say they're going to be buying 27 000 27 000 even a gun that's got 27 enough money to buy 27 000 unit has a board he has uh investors he's got uh at least shareholders and a board a vice president people he has to explain what he's doing and they're like what are you doing buying 27 000 units in the worst economic crisis in the history of mankind since zombies this was probably created by zombies by the way i know area 54 got something to do with this okay so i don't think that deal goes through why because the value in the marketplace today goes down doesn't mean the value long term goes down and also to answer your question it doesn't mean that they should kill the deal it just means if they're getting debt on a deal the debt market is not going to facilitate this activity okay so treasuries treasuries are 0.75 right now three weeks ago in one day i could have got that money for two points over okay that means that money would have cost me 275 cheapest money i've ever bought in my entire life if i was going to try to borrow that money today 22 days later that money wouldn't cost me four points right here it would cost me like four points at least four points and so the money would be four seven five four and three quarters almost five percent which by itself would change the value of that transaction by mil like hundreds of millions of dollars i think okay next caller okay grant cardone here this is cardone zone every monday tuesday wednesday thursday and friday i come to you to talk about your business your career your finance monday's all about the real estate uh i'm going to escapulate that's not even a word i'm going to scapulate which means i'm going to summarize and bring back to totality of what i just shared with you which is i'll promise you a year from now what's the date today johnny march april something april 13th april 13th april 13th pull this one out of the file johnny 2021 apartments will be more desirable to own particularly the a b plus a minus a plus uh 1200 to 1800 a month rents will be the most desirable investment class of all real estate including office industrial storage single family not each single family would be destroyed okay i think it's 62 percent i'll have it down to like 58 57 a year from now ownership in a country and they're not even counting the numbers that we get today don't count 60 i think it's 63 home ownership around the country there's probably there's probably i don't know millions of homes three or four million homes in america they're already in foreclosure they were in foreclosure before the corona covid 19 2020. i'm telling you guys you guys aren't getting the facts man 16 million people lost their jobs okay they left office buildings so so i got i got i got 25 000 square feet of office here it's empty i'm sitting here thinking i'm an idiot freaking igmoranus for owning this piece of property it's empty i got nobody here it's me and johnny two people squirting off on each other 25 000 square feet looking at each other you looking at me stay away from me okay okay i'm worried about him squirting off spraying on me i'm like hey hey don't you be spraying on me dog keep that virus off of me so in real estate you guys are getting you're getting sprayed on right now with a bunch of negative information there's negative information everywhere coronavirus is going to end the world okay well if it ends the world i'll guarantee you a bunch of people going to die in their apartment [Laughter] and most of them are going to die paid up 94 collections in april 94 collected in april guess what my collections were last april 93 my my collections went up they didn't go down okay so you guys are collecting bad news everywhere you're just reading headliners oh my god apartments are gonna go back yeah they are okay if you own two units you're probably gonna lose them why not enough income if you own four units four times eight hundred is what thirty two hundred dollars okay your payment's two grand two people moved out you lost the most important leverage you have in real estate the most important leverage is not the debt the most important leverage is the number of units i own 8 000 units 10 of them move out i lose 800 units and i can still i lose 800. i still have 7 200 people renting from me i could probably still pay my expenses and still pay my debt if i couldn't do that the lender would have never given me a loan for the 65 loan to value because they use a calculator of 0.1.25 called a debt coverage ratio look if you want to learn about real estate i mean really really learn about real estate not the easy stuff how many times have i said if it's easy to buy it'll be hard to sell okay the five percent down game's over if you've been flipping you're done i've been warning you too i've been like dude if you if when the market turns and you're flipping and you got three homes left sell them the same day make them go away no matter what you got to pay somebody to take them take them okay you've been three weeks into this event if you if you're sitting on a flip get rid of it now this will get worse for you not better the flipping's over single-family homes if you own one you're not selling it now okay that's over just take it off the table get the best debt you can on it you probably need to wait three or four months to refinance that property to get real decent uh until the until the the lending market stabilizes you you need three or four months don't go jump into a refi right now anybody telling you to refi your house right now is a complete freaking scam okay there's no way you could refi anything right now at this present point if you're in a refi right now and about to close say timeout and and and beg for for for corona covid 19 say dude i'm i'm not doing anything in this environment everything's off the table okay uh they're gonna threaten to keep your deposit or whatever say whatever okay whatever you renegotiate i promise you will be better for you than signing up on that paperwork right now so if you like this kind of information please comment if you want to if you want to be part of this every monday i drop a show every monday cardone capital cardone capital some people are asking in comments what's the cardone capital thing i own a company that owns 8 000 apartments i've been buying apartments for 35 years investors invest with us we buy we buy like unbelievable quality product okay like this product behind me i think it's at 88 this month that's at 88 it's up in virginia uh no no it's not virginia it's uh maryland maryland right next to virginia it's beautiful absolutely gorgeous property uh i think we paid 100 and lost it 126 maybe 126 130 130 million for the property irreplaceable couldn't buy it again couldn't get the debt that i have on it we own this we're going to own this for 10 years i've had it for i don't know six months five or six months and these are the kind of things that we invest in for our uh we look around the united states for our investors for myself my family so that we can look for long-term growth protect our capital okay i'm not selling this i'm not selling it i can't lose any money dude like we're going to lose a shirt okay all right but i'm not going to lose my real estate i'll lose my shirt before i lose my real estate why because great assets people have to live someplace there this coronavirus will end when it does end people will still live in that piece that property right there it's harder to buy a house today and going forward than it was three months ago you're gonna have to put 20 down to buy a house in maryland to buy a house with 20 down cost you 80 000 down payment 80 grand guess what it cost to move into that property 800. times of uncertainty 800 down or 80 000. let's think let's think about this honey what do you want to do we just moved to maryland okay we're moving to dc for a new job with the new administration there's a new administration it's going to be cuomo and and biden they move in this guy gets a new job he can't afford dc so he he drives 45 minutes and he lives in my property he looks at buying a house but he's it's a new job folks when you get a new job what are you going to do you're going rent are you going to buy you're going to rent we're going through a new job market right now people don't have an old job 16 million people just lost a damn job when you lose a job how do you buy a house like come on man you guys just do the math do the dave math okay you understand what the day of math is or do the denise math okay denise denise just moved to clearwater she's excited she moved to tampa she moved to st petersburg she moved to austin denise moved do you think she's going to go out and buy a house today might happen four months ago she was shopping for a house she moved to austin texas we're going to buy a house we're going to live in austin the rest of her life she's buying a house now she's going to rent an apartment she's not going to go buy an office building she's going to rent a a house she's thinking about whether to take her money her stuff out of storage and just sell it right now to raise money she needs a safe place for her her husband her kids and her little ruff ruff to live 10 month lease 1700 bucks a month safe swimming pool uh protected got it it's gated we pull in we got a thousand eleven hundred square feet i don't clean up anything i don't do anything i'm telling you apartments denise denise is going to guarantee denise right here thank you denise we'll make apartments the right kind of apartments in the right locations not all apartments will make the right apartment price fairly where the management takes care of denise and her family if you're going to own apartments and not take care of the tenant you're not going to win this game you have to take care of the tenant it is still a customer service issue great property got to be in a good location if it's not in a good location nobody's going to come to you particularly now three it's got to be reasonably priced if you're going to be at 3 700 bucks a month in austin or miami it's probably going to be a problem thank you guys for watching grant cardone cardone capital ceo 8 000 units got a little experience doing this game there's nobody better at buying apartments than i am nobody in the world okay listen to me listen to me throw it down in the comments well i just said he's the best in the world i said i'm the best in the world okay because i got common sense common sense use your common sense what's denise going to do what's dave going to do come on the world ain't coming to an end folks and if it does it don't matter where your money is until then invest in apartments you