➡ The video discusses the current state of the real estate market, highlighting a significant increase in unsold houses and the financial struggles of homeowners. It also mentions the challenges faced by insurance companies, with some threatening to cancel policies or increase rates. The video ends with a promotion for a service called ‘Delete Me’, which helps protect personal information from data brokers. Lastly, it advises viewers to prepare for potential financial problems and not to overspend or overborrow.
➡ A restaurant group went bankrupt after borrowing against future credit card sales, a method that can take a high percentage of sales and become problematic during lean times. Newport Ventures, the largest franchisee of Del Tacos in Colorado, also went bankrupt after running out of money and failing to restructure their debt. Other businesses are also struggling, with Las Vegas casinos seeing a 40% drop in profits and Tropicana facing bankruptcy due to a decline in orange juice sales. Meanwhile, Auto Nation was fined $650,000 for not providing pink slips quickly enough after car sales in California.
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Hey, it’s Dan. Welcome back. This is I Allegedly and I’ve got a good one for you today because there’s so much business news to cover. I am back home and on my vacation I met a lot of people and this is for Gary. Mom Yoga today. For Gary from Florida. Anyways, a lot of things happening. Unsold houses, business problems, big companies going bankrupt. A lot to cover in this video. Please hit the like button, subscribe to the channel and today we have a sponsor delete me and I’ll talk about them in a bit. But let’s go.

First things first. One thing I love to do when I go to travel like I was just in Florida and I always check out the local real estate. Like use the map, use your current location and one thing that you’re seeing in Florida is you’re seeing just a tremendous amount of inventory and that’s happening. Same problems. Whether you’re on the coast and we originally stayed in Fort Lauderdale so we were in that area and then hopped on the ship. People don’t call it a boat. It’s a ship, Dan. Anyways, we’re on the ship and just met a lot of people but real estate is starting to become a real problem because the people that recently purchased it with their high interest rates with the lie from the builders and the lie from their real estate agent being told, hey, you’re going to be able to refinance this because it’s going to drop.

They’re not going to drop fast enough to help anybody. Plus, same story. Did your situation change? Is your job still secure? Do you still have a great job? Okay. Well, if that, if you do, good for you. You got tons of cash. Maybe you can put some extra cash down to lower that loan payment. Nobody wants to do that. But here is the beginning of the problem. One thing that we’re seeing here in Southern California is you’re seeing more houses that are high end. Let’s say above 3 million dollars, 3 million, 5 million start to get listed and start to be put on Zillow.

No private listings, no pocket listings. We need to get this out to the masses because we need to unload this house. The problem that you’re seeing is that people are desperate even up to 30 days. You’re seeing price reduction, 100,000, 125,000, not getting the showings, not getting the open house traffic that they want. But this is a problem. But here’s the one thing you’re seeing. January of 2020, there were 76,000 unsold houses from builders that were left in inventory. Seems like a lot to me. Well, you know, January 2021, there was only 40,000 houses. And the reason for that was because they had low interest rates and everybody and their brother bought a house then in 2021.

2022, it even went down even further where it was 32,000 houses. And then 2023, is when people realized they had to pay for everything. Once they started to pay for everything, then they realized that they had to, you know, you gotta live with the mortgage payment, you gotta live with the fixing up the house, you gotta live with the inventory of, excuse me, you have to live with the maintenance on the house. Everything that goes on with buying a house is your responsibility now. So that’s what the realization came in. Well, this has been creeping up.

January 2024, it went to 83,000 houses. Now people were like, okay, that’s a lot. Well, no, you know, that wasn’t it. Okay. What we’re seeing right now is January of 2025, we’re at 115,000 unsold houses right now. And it’s going in the wrong direction. D.R. Horton, all these other builders that are having insider self stock right now and not buying the stock, the inventory is only going higher. Lenard, all these places creeping up higher and higher and higher and they’re doing things. They’re making it. So, hey, we’re going to buy down your interest rate for two years.

We’re going to do this little tricks to make it. So you’re going to get these houses, but it’s not enough to fix the problem. And the problem is, is that this is the second highest number since 2009 when the world came to an end, when it came to real estate. So with that, I’m up at the montage in Laguna Beach, guys, we’re supposed to get a half an inch of rain between today. And tomorrow I wanted to get out here early so you could see this, but when you travel, isn’t it great to get home? How hot she was.

It’s fun to be home. Okay. Anyways, had a great birthday. Thank you for all the thoughtful wishes and everything you guys gave me. I love it. I absolutely, I’m so grateful for everything. What we’re seeing though, is we’re seeing real problems. That’s only going to make the real estate problem worse. Remember this, guys, you got home depot. You got Lowe’s. You got everybody telling you that people are putting off big projects. Then you got the insurance companies that are out there and they want to raise rates, especially here in California. And they can’t do it.

Cannot raise the rates. Cannot do this. You know, uh, I believe his name is Ricardo Lara. Our real estate czar commissioner here in California was talking about how people want to raise prices. State farm steps forward and says, listen, we want the 22% increase, but we’re leaving. We’re going to ditch California. We’re going to cancel more policies. Enough is enough is enough. And you know, people are like, you’re not going to do that. You’re not going to cancel policies. Um, mercury general got approved to do a 12% hike and he says, we can live with 12%.

If you can’t pay your bills, if you can’t make money on it, you’re not going to survive this time. It’s just not going to happen. So a safe coat, they got approved for a 7.2%. And state farm says, no, that’s not enough. We want 22% or we’re not going to be able to make it. So more problems guys. But the same thing, everybody I talked to that lives in Florida, South Carolina, Georgia, all these different places are talking about the same thing. They’re having more difficulty. And people are like, Dan, we don’t, we live in a street track house and they’re threatening to cancel on insurance.

Never had a claim. Never had an issue. Why is that guys? The insurance companies are having real problems right now around the country is where they’re having problems. So that’s beautiful. Let’s talk about our sponsor. Delete me. Delete me is a great service. One thing that we are subjected to is data brokers. Data brokers constantly collect all of our personal information and sell it. This includes our name, our address, our cell phone numbers, email. Photos of our houses, photos of us, all this personal information. I have had this service for about seven months now and it is absolutely amazing.

Every month I get a report from delete me. Let me show you what my latest one was. This is everything that they’ve worked on eliminating. Guys, do you get spam text? Do you get spam emails? This can help you with that. Delete me is a great service. If you go to JoinDeleteMe.com and use forward slash I alleged lead, you can go to my website. You can save 20% off the regular price, but I’m telling you this works. It works great and you need to check it out today. Nobody wants our personal information to be sold.

Nobody wants to have your job. All this personal stuff about us, family members, everything that links back to us. This will eliminate that. Use this QR code here or use the link below, but sign up for delete me today. It’s a great service. Totally worth it and I love it. Check it out today. One thing I really preach is preparation, especially with your finances and trying to foresee problems that could happen down the road. Don’t overspend, don’t over borrow, don’t do anything that is going to put your business in jeopardy. And, you know, Citizens Property Insurance is the largest insurer in Florida.

They just announced a hundred thousand canceled policies since the first of the year, guys. That is crazy, guys. So look at your house, guys. Look at if there’s any potential problems. Think about this. How does your house look from up in the air? How does it look if they flew a drone over? I’ve had people walk in and say, I’d be screwed, damn. I built so much stuff in my backyard. I don’t have a permit for it. You know, I got a tiki hat. I’m in this place. You could go. It could burn down with all this stuff.

I’ve had everything told to me. You need to protect yourself. You need to get ready for the potential for your insurance being canceled. Have a relationship with your agent. I only knew that right now. People are borrowing money left and right and cannot afford to fund their businesses. This is happening more and more and more with restaurants. My son worked at a restaurant and they started treating him horribly. And I told you guys stories just a side note that he laughed and he got another job. That restaurant group went out of business this week, shut the door when I was on my trip.

And he wrote me and I said, oh, Grant, were they having money troubles? Find out what they did was they did a merchant cash advance to fund the business. And what this is is you go out and you borrow against your future credit card sales and they give you an advance. But the problem is then you have to run it through their terminal. They give you a special terminal and you have to run it through them so they can calculate it. They can take a percentage from as little as 10% to as high as 30%.

I’ve done this for a business before. It was very good. But then when you start falling on lean times, that 30% is a killer, absolute killer. And what my son told me was, yeah, dad, we would answer the phone and they’d say, let someone talk to the owner. Where’s the money? And it was funny because I’m like, son, you never told me that part of the story. You never told me that they were that they were leaning on this guy. Well, eventually, you know, they, they, they shut him down because he could not get any more money.

Now Newport ventures, somebody we’ve never heard of, but they run 18 del tacos in the state of Colorado. They were the largest franchisee. They just ran into this last week where they ran out of money. No more borrowing. They were in bankruptcy trying to restructure all their debt and they couldn’t restructure their debt. But employees literally showed up and it was like my son’s old business that he worked on. Thank God he got his paycheck. He got his, uh, you know, his w two got everything from the company and, uh, they’re gone. They’re done. But these poor people that worked there in Colorado for the, uh, del taco showed up closed until further notice.

Well, no, you know, at first the local station, the stories are below local station that did the story was we don’t know what the story is, why they went out of business. So with that being said, I started, uh, you know, researching it restaurant dive did a great story about how, Hey, these guys could not borrow any more money. And that story is below too. So you can see how it goes from vague to explaining exactly what happened. But I’m telling you, these companies go out and they borrow this money and think it’s just gonna last forever.

And it does not. Yeah. You know, we’ve heard stories that consumer spending collapsed in January and there’s a great article below to say, wait, hold the phone. Not yet. Didn’t happen yet. Auto sales are holding their own. But again, interest rates, high interest rates are killing everything. It’s, you know, Home Depot’s blaming it. Lowe’s is blaming it. We’ve talked about all that stuff. And, uh, one thing that’s very interesting is year over year, uh, profit for the casinos are down 40% in Las Vegas. A lot of that, you know, one thing that was interesting on the ship was there was less gambling.

I spoke to the casino manager and says, yeah, it’s down. It’s been down for about four months. And, you know, all of a sudden people when they go on these trips, let’s go spend a few hundred bucks. Let’s not. And they said more people show up at the end of the, oh, you know what? We haven’t been to the casino yet. Let’s go where people used to flock there the first night. So that was fascinating. You know, banks that are doing certain things that are interesting. Wells Fargo and Bank of America are getting rid of DEI programs and phasing them out.

So that’s, that’s kind of interesting to say the least. Uh, Zell, you know, the Zell app is used by some small businesses. I told you guys I had somebody do work at the house and the guy charged me via Zell. He doesn’t have to pay credit card fees and, and, uh, but there’s a tremendous amount of fraud and lawsuits that happen with that. And that is dumb. One thing that’s cool is these painters come out here. There’s probably 15 of them right now that are painting and, uh, that. And then you get mom yoga out here as well.

So it’s funny. The mom yoga, I should have bought that domain name because now it’s, you know, $3,000 to buy that to buy that, uh, domain name. But, uh, it’d be a great click farm. Anyways, could talk about that forever. Uh, good old city bank, uh, was supposed to give a woman $280 in her bank account and they put $8 trillion in her bank account for a day. $8 trillion. City bank does not have $8 trillion. I checked, but, uh, see, that’s the thing that makes you think it’s just numbers on the screen, baby. You know, you hear from jacket Patriot gold.

What would you rather have gold or money on the screen? So, you know, some binary code, I mean, has, he goes on and on and on, but this woman was a, a trillionaire. She’s the first one. She had eight of them. You want to ever do something fun. Look at the stories where people get, you know, large sums of money actually put in their account and they just go on spending sprees and they’re not smart about it. They start telling everybody. And there was one woman that bought her friends cars, bought a house, bought everything.

It took about eight months for them to find it. And then they arrest her, gives the money back. Oh, the money. Look at the Bentley out in front of the house. I gotta kick out of stuff like that. But Tropicana, the orange juice company, they’re are in huge trouble right now. And the huge trouble is, is that they’re saying the bad weather in Florida killed the orange juice trade, the, you know, low crop problems with fungus, all this stuff. Well, nobody wants to buy a $15 bottle of orange juice right now of that sugary drink.

So no one wants to do that. So with that being said, Tropicana is on the verge of bankruptcy. Here’s what’s going to happen is reality is going to set in because regardless of what major changes happen in any administration, the one thing that you’re not going to be happy with is interest rates are going to stay elevated for an extended period of time. And the lie that they’re going to drop to, you know, 2% and all this stuff again, days are done, guys. You know, life gets in the way. People have to sell their homes.

People get divorced. People get relocated on their job. They get fired because of Doge, all these different things that can happen. Are happening. You know, one thing, you know, we’ll talk about that later, but don’t forget to sign up for our email list because we got one going out in the next day. And that one I’m really proud of. But check it out. Okay. Use the link below. You can sign up for the email list if you’re not already. Don’t forget, guys, we have the private channel. I allegedly live, which I love filming for. So much is happening on that.

That stuff that you know, it’s great. There’s things you cannot talk about here. That’s what that’s for. And get a story. That’s absolutely wild. But check it out today. I allegedly dot TV is where you sign up for that. Final thing is Auto Nation. Auto Nation is a big car company that sells automobiles. And here in California, I’m going to make sure I get this right. Was they got $650,000 for not providing the pink slips fast enough on sales here in California. It’s you have to provide. You have to notify the DMV of a sale.

You have to get the pink slip out within 30 days. The only time that you’re allowed to extend that is if there is problems with the paperwork. Auto Nation was like, yeah, there’s a problem with paperwork. No, they were just dragging their feet. But they got fined $650,000 from 24 of their California dealerships. God, that is wild, guys. But here’s the thing that I always tell people when you buy your car, make sure that stuff gets in and make sure the transfer notice gets in. Because I just drove on the toll road to get here, guys.

I’ve had people get toll road notifications. I’ve had people get, you know, cars, get parking tickets, all the stuff that happens, thinking that they own, you know, I don’t know in that car. What I mean is it was in Riverside County. I wasn’t even there. So it’s a real problem. So check it out. Hope you’re having a lovely day. And again, it’s very happy to be home. I’m very happy to be home. And I’m just stuttering and stammering. And I’ve been up late. And I’m jet lagged. And I’m that too. You know what I mean? So okay, I’ll see you soon.

Email me. Hello at I allegedly dot com. And I hope everybody’s good. [tr:trw].

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