Cash for Keys is Back

➡ With foreclosures on the rise, the practice of ‘cash for keys’ is becoming popular again, where banks or landlords pay homeowners or tenants to vacate without going through the eviction process. In some cases, individuals have profited significantly from this practice. It’s primarily used where a rebuild is intended or the landlords want to set new rent at a higher price. On the contrary, real estate broker Barbara Corcoran advises finding cheaper homes in areas with the worst school districts, which is considered bad advice due to the potential safety and community issues.
➡ Dr. Gundry, a prominent cardiologist, created a successful weight loss program focusing on gut health. His program helps users eliminate food cravings and lose weight, suggesting role the gut plays in overall health.
➡Multiple businesses, including Wise choice, a trucking business, and a Bay area radio station owner among others, face bankruptcy and liquidation due to lowered advertising and less spending amidst emerging economic challenges.
➡Debt continues to be a major problem for many individuals, often due to poor financial decisions such as opting for expensive car payments instead of more affordable options. Meanwhile, more companies resist divulging owners of their LLCs and subchapter S corporations, risking fines.
➡Pizzette, a well-known pizza place in Mystic, Connecticut, closes after 17 years of business. Amidst celebrations of Michigan winning the national championship, disrespectful behavior and destruction by fans underscored lack of community respect.
➡Shohei Otani, a professional baseball player, sets a precedent by deferring the majority of his $700 million salary, thus avoiding substantial taxation. This action has sparked controversy, particularly in California where state representatives are considering laws to tax income even after individuals relocate.
➡Tipping culture is scrutinized as more venues, including unlikely ones such as doctor’s offices and department stores, begin asking for tips. The trend sparks debate over the appropriateness and boundaries of tipping.
➡ The speaker discusses his experience and dislike of the growing expectation for tipping in various service sectors. He encourages his audience to share what they are no longer willing to tip for and discusses the rise in wages, emphasizing how $20 an hour is much more significant these days. He ends with a call to action by asking his audience to like, subscribe, and get in touch via email.

Hey, it’s Dan. Welcome back. This is I allegedly, and got a good one for you. I’m in Dana Point and Ritz Carlton’s next to me walking through the tunnel where the surfers go and down to the beach. But it is just clear and blue out here today. But man, oh man, cash for keys. Cash for keys is back. It’s back in a big way. So we’re going to cover that today.

We’ve got a sponsor today, Dr. Gundry. But let’s get right into it. During the last real estate downturn, one thing that was a negotiating tool for banks was what they called cash for keys. And what this is is very simple. Let’s just say you’re getting foreclosed upon and you can’t make the mortgage payment. So instead of them going through the foreclosure process and the eviction process, just turn the house over to us and we will give you money.

We will give you cash for your keys. Cash for keys. Now this has also been used to get rid of tenants. Hey, listen, we don’t want to evict you. We just want you out of here. So we will give you money and you’ll turn the keys over and you’re going to move out on this date. The thing about this is that with the economy going in the negative direction of foreclosures on the rise.

And again, my friend, yesterday I had dinner with him and he says, yeah, I had a good day but it was a light day. I could have done a lot more if I wasn’t going to meet you. Dan, I did eleven postings. Now understand this, guys. A month ago they were doing four. A week before Christmas he posted 15 in a day and he did eleven yesterday. Oh, wait till you see what I do tomorrow.

Okay? Because it’s getting busier, guys. But not everybody wants to get kicked out. Now think about this. This is the wild, wild west part of this whole thing. There are people that have not made a house payment on their mortgage since March of 2020. Is that wild to think about? Guys, four years, guys, okay? Four years, 46 months of no payments. Just wild, wild, wild, wild. So the banks are starting to get together and they’re starting to say that they want these people out.

Now here is the thing about this is that there are areas where this is really prominent. And I live in southern California, in Los Angeles. Over the course of the last four years there have been 5000 instances that have been reported to different housing authorities where they took cash for keys, 5000 of them. Now here’s the wild thing about this, this is normally, and I’ve got two great articles for you below.

This is normally given. Hey, listen, John, get out of here. We’ll give you $500 and you’ll leave. Now. Think about, you owe rent, you owe the mortgage, you owe different things, but you’re going to get net dollars out of this and you’re going to be sent back in. The housing advocate for the state of California says that the highest that this can go is $5,000 that you can get, which is pretty good.

You don’t pay your mortgage, you don’t pay your rent, they’re going to kick you out. No eviction process. You get a check for five g’s. Okay, nice. How about this? In LA county, with these hot neighborhoods, you’ve got Boyle Heights, East Hollywood, Echo Park, Highland Park, Los Felis, and Silver Lake. These areas are the number one areas for cash for keys, not only in the country, but in southern California.

But I want you to think about this. The city comptroller’s office for LA keeps a record of this. What do you think the average in La county was for these people? Oh, wow. It’s probably closer to that $5,000 figure, right? Not even close, guys. The cash for keys for these people was $24,704. Okay, think about this. Some of these people are profiting handsomely on not paying their rent and not paying their mortgage payment.

Now, different builders in these areas, because of the construction boom, what they wanted to do was get rid of the tenant, rehab it, add a second unit, do things like that, and charge substantially more rent. But you have to start with a clean slate to do that, to set the new rent at a new price. You can only go up so much of a percentage here in California and, well, let’s get rid of that theory.

Not wild to think about 24,000. I want to hear that figure again, because it’s just so much. $24,704 is the average payout for these people. Think about it. Somebody got more than 24 grand. So you’re going to start seeing this more and more as my buddy gets busier with the foreclosures. And remember, the economy is great. Everybody’s doing well. There’s no layoffs. There’s nothing bad happening. There’s no negative anywhere.

Okay? It’s just your own personal hiccup. Okay, we’ll leave it at that. Okay. Now it’s getting worse, but the banks are going to start getting creative now because the banks, it’s 2024. They’re just not going to kick the can down the road. They’ve got to get people out. They’ve got to get people paying, just like they’ve got to get you paying on your student loan debt. They’ve got to get you paying on the mortgage.

So the landlords are fed up, the banks are fed up, the banks are losing money hand over fist. But I’m telling you, if you or somebody you know is in this position, you don’t not going to tell you how to negotiate this, but you’re going to get something and you’re going to get paid off to get out of that property. That’s going to happen and you’re going to see this happen much more often.

And it is back in a big way. But read these articles on this. And again, if you’re in the position that they want you to leave, California’s got all these new laws now. And around the country they do, too, that people have to move into the property. Hey, we’re going to rehab it. And, well, the owner has to move in in California, it has to be twelve months.

And because of agencies like that, they’re going to inspect to make sure that these people are in those properties. Wow, guys. So get ready, guys, get ready, get ready. Get, you know, share your thoughts on this stuff so far because it’s crazy. Now, the next thing is Barbara Corcoran from Shark Tank. Barbara Corcoran is a brilliant real estate broker and she has made tens of millions of dollars in real estate.

She was on somebody’s podcast and she gave advice, how do you find a cheap house? Okay, when somebody sent this to me, I thought it was a joke. No, you misunderstood what she said. But I didn’t. And the article is below. Want you to think about this. Okay? I’m going to give you an example of this, too. She said that you should not look at Florida, you should look in the south, but you should go to areas that have the worst school districts.

And I’m like, no, no, she didn’t mean that. She just meant you want less expensive communities. No. Go and look at the worst school districts. Think about this. The worst school districts? Are you kidding me? Okay, again, bad students commit crime. Bad students have parents that don’t care about them. Do you understand? They don’t care about their neighborhood. They don’t care about safety. They don’t care about drug use.

They don’t care about things like that because they’re bad parents, okay? And they spawn little idiots. Okay? So little idiots go buy a house in those neighborhoods. You’ve got to be kidding. Well, this is also good advice if you are not going to be a parent. Okay. Okay. Let me give you one for you. Traveling nurses, lived in San Diego. I’ve talked about them twice now over the last month.

They moved to Ohio because it’s inexpensive. They sold their house in this area, San Diego. I’m in Dana Point. But they sold that and moved to Ohio and never investigated the crime. The bikers, just the complete mayhem that they live around. And they can’t go out at night because it is unsafe. Okay. Yeah. How do you think they feel now? Yeah. Go buy a house in the worst neighborhood with the worst school districts.

You’re an imbecile. Barbara Corcoran is an imbecile for saying this, but again, read the article because you’re going to be, huh? Okay. Just because a house is cheap doesn’t mean you want to turn off the lights and go to bed at night. You know what I mean? So let me know what you think about this all so far. And you’re going to see the cash for keys come back and you’re going to see people try to get innovative with where they’re going to live.

But please, bad schools, there’s a better idea. Let me know if you agree with me. Let’s talk about our sponsor, Dr. Gundry. So many of us think that we’re eating healthy and doing things right, but there are things that we put into our bodies that are actually toxic. And Dr. Gundry, who’s a world renowned cardiologist who couldn’t lose weight for years, created a program where you could actually lose weight and keep it off.

But he found out it all started from his gut health. Now, when you think about this, food cravings, being lethargic, lack of energy, your belly fat, there’s things you can do about this. If you go to forward slash Dan, you can see a video by Dr. Gundry where you can see how he changed his life. But it’s very simple. And again, take a look at this because Dr.

Gundry has helped so many people with this, lose weight, get themselves in shape. But, man, oh, man. Food cravings are eliminated with this, and it’s all natural. But take a look at forward slash Dan. The link will be below. Check out his video. Today. Businesses are challenged now more than ever. Wise choice. Trucking had 33 drivers. They just filed for bankruptcy, were open since 2009 and couldn’t make it.

Okay. Liquidation, it’s terrible, guys, because you’re seeing more and more of this. The simple fact that things are not being shipped around the country are real problems. A Bay area radio station owner that has six radio stations just filed for bankruptcy, and they own 102. 1 jams and 95. 7 a game, filed for bankruptcy, and again, they were prominent radio stations and they’re done. Another company, video amp.

Video amp is somebody that’s tied to, like, Nielsen ratings and things like that for video promotion and advertising. They went down for the count guys, and they’re cutting back. They’re still open, but they just got rid of 20% of their staff and they’re talking about, hey, let us show you how we’re reinventing ourselves right now. They raised $650,000,000 and I shouldn’t have said they were going down, but they are reorganizing right now and again.

Why? Because people aren’t advertising. People aren’t spending the money that they’ve spent in years gone by. And you’re going to see this happen more and more. The money that you spend, it’s critical that you get a return on everything that you do. So that’s what you’re seeing more and more of as these companies are just shutting off and not doing the same thing. So let me know, guys.

Let me know. It’s a beautiful day. Here’s a follow up from the last video that we did. And so many people need to get themselves out of debt, but so many people just think, okay, I’ll fix this. I’ll figure it out. And people go out and get themselves ridiculous car payments and insurance payments and things like that. One guy that spends one quarter of his income on his car loan, instead of going out and buying a used car, paying for it in cash, he’s got an $1,100 payment on the car plus the insurance.

It’s just completely out of control. But more and more people are like this and can’t figure out how they can’t get ahead, know if something goes wrong, they can’t fix. You know, that’s what we’re all living through now. Remember yesterday, Janet Yellen told us how great everybody was in divulging who owned the llcs and who owned the subchapter s corporations and all that stuff, and how she was just so thrilled with the numbers.

Well, great article below about how the turnout for signing up for that is completely dismal. And quote, unquote, no one is in a hurry to divulge who owns these companies. So again, how things change in one day, it’s crazy, but you’re going to see people get to the 11th hour to where they’re going to be fined the $500 a day. Almost went down with that one. They’re going to get fined the $500 a day, and then that’s when they’re going to start to divulge this.

So you see that almost fell. Remember the movie mystic pizza, coming of age movie, Julia Roberts first starring role. Remember that? Okay? It’s about know girls meeting guys at a mystic, Connecticut pizza place. Okay. Well, her first role when she went and ate at the family member’s house, the younger brother, there was Matt Damon in his first role, sitting there not doing anything, but that was his role.

Now, there’s another pizza place called Pizzette in mystic, Connecticut, that’s going down for the count after 17 years of being in business. So it’s sign of the times, guys. Very sad sign of the times. Now, next thing is, a couple of days ago, Michigan won the national championship. And what I don’t get about any sports team winning, okay? Now it goes over to the college ranks is the fires and the fights and the mayhem.

So, Michigan, there were 17 fires started as a result of them winning the national championship. Go blue. Let’s burn it down. Go blue. Do you know what I mean? It’s insane. The absolute lack of respect for your team, for your community. I’ve never, ever, for the life of me, understood winning and mayhem. Okay, explain that to me. Okay, explain it to me. Now. You can sit there and say, oh, it’s just a football thing.

It’s not. Because when the Lakers won time and again, they’d burn la down to the ground. So, speaking of LA, showe Otani is here. And if you didn’t know this, he’s getting paid $700 million over the course of ten years. What he elected to do was take a $2 million salary. Now, here’s the thing about this. The rest of the money will be deferred beyond the ten years.

And the beauty of this is that he can go live on Venus, he can go live with Elon Musk on Mars or back to Japan. But our state comptroller is furious about this because they can’t tax him on the majority of his salary. And there is a great article about this below, talking about how this isn’t fair. They should be able to do this. They should be able to tax him on that money.

And California, think about this. They want to make it so that if I make a billion dollars here and I move to a tax free land, like Nevada or Florida for that matter, that they want to be able to continue to tax you in those other states. Absolutely unconstitutional and absolutely unfair. But that’s what they want to do here in California. But Shohei Otani, he set a precedent with this.

He did. The Big Maca, very famous story is a man named Bobby Benilla. And every July 1 is Bobby Benilla Day, where he gets a few more years of getting over a million dollars a year in deferred comp. And he hasn’t played baseball in 20 years. Okay, Bobby Benilla, who? Exactly. Okay, so Shohei Otani is going to defer his money. And I’m telling you this know, this guy’s going to make so much money from his endorsements.

And if you look at Shaquille O’Neill, what he did, he didn’t spend his basketball money. You know, Jay Leno deferred all his Tonight show money and lived on his stand up comedy and tv appearances. That’s what he bought all those cars with. And now, you know, he’s got all that money saved to do whatever the heck he wants with in his golden age. Golden years. Excuse me. Okay? But it’s a heck of a nice deal if you can get it.

And the Dodgers are clearly the most hated team in baseball right now because they keep signing people and keep buying players. They’re the Yankees of old. So let me know what you think about this. But does the state of California have a grievance? Do you think that they have a gripe? The guy’s not getting the money. He’s not getting it for over ten years. We want to tax that money.

We want to tax these contracts. There’s got to be a way to tax this contract. Is that insane? That’s absolute lunacy. But again, this guy will live in Japan. I’m telling you this right now. He’s going to take that money back and convert it to yen and have a nice day. Okay, let me know what you think about this. I’m going to finish this last story. And let’s face it, guys, tipping is out of control.

Completely nuts. And where do you draw the line? There is a woman that has a TikTok account, Lucy Leeson, who has done a list of 27 things. She is refusing to tip. And I’m like, let me think of where it’s been ridiculous in the last couple of months. Department store. I was at a Macy’s where they had a tip jar up front, and I’m like, wow, I’m sure corporate would lose it if they saw that I went and went to a parking garage.

And as I was leaving, they slid out the tip jar and said, tips are appreciated. And I’m looking at this guy, nobody wants to pay for parking in the first place, and tips are appreciated. She came up with the doctor’s office. Imagine going to the doctor’s office. Now for these women that get Botox and stuff like that, will you tip the attendance, the know the nurses and things like that? It’s crazy, right? Know the people at the frozen yogurt place, the fast food places.

I don’t mind throwing a tip. Know, I was at KFC and it was feeding a bunch of people a couple months ago and we had to ask for all the specific other stuff. And they had a tip jar and I said, okay, this is for you guys. And did that after I asked for all the extra stuff. And they gleefully jumped at it. So it has its point, but everybody’s expecting it.

Now. That’s the problem with this. Nobody is appreciative. You got to pay more for it. And you go to the sandwich shop and you pay for the tip and they slide it around and I’m telling you, you get better service when you tip. But it shouldn’t be mandatory and it shouldn’t be things that you don’t want to tip for. But let us know, what do you not want to tip for anymore? What are you fed up with right now? Now think about this.

All these people, if you work at that sandwich shop and you don’t getting a bump to $20 an hour, you’re doing something wrong. So $20 now is a lot of money. Okay. Anyways, don’t forget to hit the like button. Don’t forget to subscribe to the channel, please. If you want to email me, it’s hello@iallegedly. com. I appreciate everything, guys. Thank you so much for being here. Onward and upward and I will see you guys very, very soon.

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