➡ The speaker discusses the challenges of finding affordable housing and criticizes people’s expectations of living in luxury apartments while paying low rent. They argue that people should consider living in less expensive neighborhoods and value properties they already own, like family homes. They also highlight that people shouldn’t judge landlords for their rental prices as they may have financial obligations unknown to tenants. Lastly, they emphasize that real estate is a slow money-making business and people should adjust their expectations accordingly.
➡ The text discusses how people often desire luxury living but are unwilling to pay the associated costs. It suggests that there are affordable housing options available in various locations, but people often overlook these due to their desire for a more luxurious lifestyle. The author emphasizes the importance of living within one’s means and choosing housing that fits one’s budget, rather than complaining about the high costs of luxury living.

I also am considerate, meaning that I know that everybody don’t share the same faith as me. Everybody don’t have the same desires as me. Everybody is not interested in leveling up and doing all of that stuff. So I’m not approaching this from my mindset. I’m not approaching it from my situation. I don’t have the same situation as everybody else. I don’t have the same mindset as everybody else. I don’t look at anything as too expensive. I look at it as an opportunity. All right? So when I’m having this conversation and I jump into this live today, I want you to keep that in mind.

So this is what my man had to say, for example. You know, I believe in full transparency. I’m not going to sugar coat or lie about anything. I’m going to be completely real on this page. I’m struggling, Brett. I’ve been looking for a two-bedroom apartment. I have a baby. We need that second room, and nothing goes for less than $2,500 a month. How are some of you guys doing it? How? With car insurance, car payments, rent, gas, and a few other things. How are you guys making it through? I’m barely just making it by, and I have a pretty decent job.

I got paid pretty well to hold the family. $2,500 a month? Are these people going crazy? And now I’m looking at actual not-apartment buildings or luxury apartments. I’m looking for people who own duplexes and have multi-family homes. They’re charging the same thing, and the apartments beat up. What’s wrong with people? It’s not like your mortgage went up, because you guys have been paying it off since you bought it 40 years ago. You guys are just being greedy. All right. First, before we get into the rest of this, what makes y’all think that y’all could tell somebody what their situation is and determine how much you’re supposed to pay based off of what you think other people got going on? Y’all don’t know what people got going on.

Y’all don’t know if they still got a mortgage. You didn’t know if he refinanced. You don’t know if they had a HELOC and they had a medical emergency. Y’all don’t know nobody’s situation, and everybody want a pocket watch. Everybody want to tell somebody what they think that they should be charging the ring. You don’t know what their property taxes are. You don’t know what their insurance is. You don’t know nothing. You don’t know if they own a loan shark. You don’t know if they got a high-interest loan that they got to get to.

You can’t tell somebody else what they are supposed to charge and when. You can’t tell somebody what they supposed to charge. Imagine you own a property and you say, you know what, I want to rent it out because most landlords, overwhelmingly most landlords, only own one property. Maybe two if they live in the second one and they just haven’t sold the other one and they just decided to keep it as a lease. And contrary to popular beliefs, real estate, if you’re not finessing, and for the most part, as a landlord, real estate, if you’re not refinancing and pulling the money out and doing some sort of rent arbitrage, real estate is slow money compared to a lot of other things that other people do.

Thank you, Clay Display. Real estate is slow money. I’m going to read Superchas and Cash Apps also shortly. Real estate is slow money compared to what everybody else is making. Even when it comes to the market, when it comes to investments, real estate is slow money. And so for people to sit there and tell you what you’re supposed to charge for your property is crazy to me. That’s insane to me. Well, I’m doing it just because everybody else is doing it. You’re going to have to kick people out because they can’t pay you.

Then you shouldn’t be leasing. When did the responsibility become the landlords to ensure that you pay your rent? We have become so entitled in this country. And you know what else I’m tired of hearing? I’m tired of hearing that the rent is too high. I’m tired of hearing that the rent is too high. And let me tell you why. I went through and I actually did some research on this. And so I went on different sites. I went to Apartments.com, Homes.com, Zillow, Trulia, Redfin, all of these places, right? And so I go on these places and I jump on my iPad.

And last night, before I get on the show, I had about an hour before I started the show, I’m scrolling through and I’m just looking at rent in different cities. You know what I’m saying? Your car. And what I found is this. If you don’t live in somewhere like a New York, which you’re stupid if you’re still living in New York, if you don’t live in Los Angeles and you’re stupid, if you still live in Los Angeles and you’re not rich, you’re stupid if you live in Los Angeles and you are rich.

Because first of all, you can do way better. And secondly, they taxing you to death. But I went through and I looked at so many different major cities. I looked at Chicago, Detroit. I went to St. Louis. I went into on the apps. I looked around in Atlanta. I looked in Miami. I looked in all of these places, right? I looked all over everywhere. And you know what I found? Do you know what I found? I found housing anywhere ranging from 750, 750 a month, all the way up the gamut. But there was a significant amount of places that did not charge a lot of rent.

Now, this is what I found that a lot of people are doing. Most people believe that they deserve to live in a great neighborhood or to live in luxury apartments in the middle when they think of everything. They don’t want to live in a regular place that may not be as close, that you got to catch the bus in and stuff like that. Yes, I did. I did. And a lot of these places around the major city, they have places that you can go to that do not cost a lot of money.

But see, that’s what I’m saying, Jason. You said that you live in a nice suburban area outside of Philadelphia, and your one bedroom costs $1,500 a month. Guess what? None of us expected when we were coming up, because a lot of people will also say, well, man, your grandparents and your parents and this, housing only costed them this, this, this. They only paid 60,000, 70,000 for their house, 80,000, 90,000 for their house, whatever, so on and so forth. And while that may be true, may I also propose to you that when they paid for those properties, the same neighborhoods that they live in, that same neighborhood that they bought those properties in, most of them bought them in places where the property is still only 100, 110, $120,000.

So y’all not even making a good comparison. You’re not even making a good comparison. Everybody expects to live in a luxury apartment, and they only want to pay $1,300 a month for it. The houses that they bought were based off of the community. Somebody says, but don’t nobody want to live in the hood. Well, guess what? It didn’t become the hood and too young, niggas turned it into it. You turn it into that. It used to be a place where people could walk down the street or whatever, so on and so forth, so much so to where you didn’t even know that you was living in a hood.

The neighborhoods went bad so much because the people tore it up and not enough people actually valued grandmas or mom’s house. I keep seeing people in Detroit nowadays talking about hold on to your properties because everybody buying up all of the stuff in here now and stuff like that, not at downtown, it’s super developed. What do you mean? Grandma’s property should have been paid off 30 years ago. You should have still been living in grandma’s property. Who, who a destroyed the neighborhood and B who decided to let grandma’s property go or to continue to refinance and pull the money out of the property? Who, who told y’all to do that? Now, now you want to go back to grandma’s property because you realize that it’s not greener on the other side.

You realize that it’s not greener on the other side and so now you want to go into grandma’s property. Listen, y’all fumbled your own neighborhoods. Y’all didn’t even see grandma’s property as anything to go and look at in the first place. You never even cared. I’m about to go over to Memphis right now. It’s a gajillion, 5,000 on Zillow alone, 5,872 homes available. First thing I see is 850, 699, 999 for two bedrooms, 599 for one bedroom, 975, 875, 875, 660 for one bedroom. But guess what? You don’t want to live in these neighborhoods because you’re too good for it.

You’re too good for any of this. You don’t want to live in this. Nope. I don’t want to do it. I got to go where all of the influencers are and we got to pay $3,000 a month for a studio because we want to be in the mix of things so that we can come back and complain. Come back and complain and say, oh, my God, I don’t like it. Oh, my God, I don’t like it. Bro, look, nobody want to get shot and stop shooting people. Listen, this is what I’ve learned. People are going to complain no matter what.

5,800 homes for rent over there in Memphis alone. Then I go over to Vegas. I said, y’all see, let’s go to Vegas. 15, 18, 13 for two bedrooms, 13, 1,100, 1,200, 1,000 for two bedrooms over in Vegas. Updated yesterday. But guess what? You don’t want to live there. You’re not interested in living there. We have champagne and caviar taste and mustard budget. We got champagne, caviar taste and mustard budget. We just act like we deserve everything in all of the world. And y’all deserve, did you see what the guy said? He got a car note.

He got all of this other stuff and all of these other expenses. And then he’s going to say, but man, I’m looking at luxury apartments and they want $2,500 a month for two bedrooms. What did you think that was going on? What you thought that they sunk 80, 90, $100 million in the building is luxury high rise, 250, 350, $300 million to build this luxury high rise. And they supposed to charge you $1,000, right? Well, I tell y’all what, if you want something different, then why don’t you build it for yourself? If you go into Brickell in Miami, you are going to pay because see, they’ll sit there and tell you, Oh man, Miami, Miami is too expensive to live in Miami.

It’s regular people every day living in the areas. There are 10,000 homes for rent in Miami from Princeton, all the way up into North Miami, 10,000. 10,000. Now you can go and get you a $7,000 right on Biscayne. That’s right in the mix of everything or you can move outside. See, all of this is based off a location. It’s a gajillion of these things. All right, so let’s go based off a price. I don’t want to do all that. Let’s go zero to zero to a thousand, $1,000 a month, $1,000 a month, $9.50, $9.80, $1,000, $1,000, $1,000, $1,900, $900, $800 a month to stay in that house, $5.81.

But again, nobody wants to stay in those. I got to be in the available for everything. I don’t have to look for a Miami spot. I got a place that I own down in Miami. A lot of y’all may not be familiar with that. But my point is, is that people don’t want cheap. They want luxury with a budget approach. Nah, I think it’s expensive here in Florida. For who? I don’t agree with that. I see people going to Walmart down there all the time. If you go outside of the design district and Biscayne and Brickell and Miami Beach and all of that stuff, and you start to move inward a little bit, you go over to Coral Gables.

They got plenty of apartments that ain’t as expensive. They got regular grocery stores that people shop at on a regular basis. People actually take the bus, and there’s some people that don’t even have cars down there. So if you’re telling me that, there’s always an equal and opposite thing that’s available also. You just don’t want to live over there with the Cubans. You don’t want to live with the Mexicans. You don’t want to go over there with the Spanish speakers. You don’t want to hang out with there. See, look, Kevin, Kevin once says, I’m not renting an $800 house anywhere.

You know what’s so funny about that? You know what’s so funny about that? When my father passed away and I said, all right, well, I guess I got to start paying somewhere, right? Either I can move into one of my own properties, or I could just go and break out. I can do whatever it is that I want to do. I had a townhouse that was a full basement, two bedroom, two bathroom, living room, kitchen, backyard, patio, all that. I was paying for a couple months before I left. I think I was paying like $9.80, $9.20.

I wasn’t in the thick of things. I wasn’t in downtown Detroit in the high-rise building, but I was paying like $9.20, $9.80, something like that. It was super cheap. It was super cheap. And you know what happened? You know what was happening? People were sitting there complaining. You said that’s a 2016 timeline. Interesting. I researched that place too. And you know what they charge a max? You know what they charge a maximum? For the two bedroom, two bathroom, and basement? Like $10.60. $10.60. And so, you know, people sit there and they whine.

They whine, they complain, they talk about what they don’t have and what’s available. And they all want champagne, champagne dreams, but they wanted for $600 a month. They wanted for $600. I seen a woman on TikTok complaining and wind up getting kicked out of her $50 a month apartment because she was being subsidized by Section 8. You go where it makes sense for your budget. [tr:trw].

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