Transcription
really appreciate it. I want to buy this home, but at 8.9% right now, it's just a little high in the market. So, I think I'm going to wait until rates come down.
>> Well, that we say we marry the house and we date the rate because once you close on it, you gain the equitable interest, you grow it another 6 months. When those rates come down and the 10-year yield falls down, I'll get you on the phone proactively. We'll refinance and we'll save you a couple hundred bucks a month. So, let's get it going.
>> Okay. But, but but but here's my deal, though. Is that right now that the housing market, right? Like a buddy of mine was telling me, it's actually going to keep going going down. So if I wait, I might even get a better deal and the rates may come down.
>> We don't listen to people with common attitudes and misconceptions. We listen to the market. We make it happen and we make it work.
>> Well, it's my wife.
>> No, no, no. This is real.
>> This is No, I want to keep going because I want to see where we're going to go.
>> That's fine, though. But your wife's going to be happy with you for making a decision now because when she does want to buy in a year from now and she's got to pay 50,000 more for the same equitable interest, she's going to be very happy with your decision today. So, let's get together, all three of us. We'll talk through it. We'll make it work.
>> Okay. So, and by the way, this is good, but he could say something like this. So, basically what I hear you saying is that if the rate was less, we'd be doing it. Would you would you agree? Yes or no?
>> Okay. So, we know that right now the the price is good on the home or we wouldn't be buying it because you guys wouldn't be buying it at a bad price. Am I correct? Okay. So, you guys feel good about the money. Let me ask you a question. Hypothetically, if the price was more than you wanted to pay on the home, but the rate was less, would you have done it then? See, now I'm taking control of this show. If the if the if the price of the home was more, it's another 200 grand, but the rate was 2% less, and you guys are like, "Oh, the rate's good." Would you buy it then?
>> Yes.
>> See, but your payoff would be higher. You'd owe the bank an additional 200 grand.
>> Yes and no. I mean, the equitable interest.
>> Well, it's it's not yes and no. It it's basically
>> things are going over asking anyway, so you're going to be paying more for it regardless. It's extremely competitive with supply and demand where it is now. So topically speaking for this time, uh I think that your example still stands where you buy the house and you simply refinance the note later.
>> So watch this. I'm sitting here with this guy. He's across from me. Everybody understand this? And we're to go into sales. What he said? Did you guys understand what he said to me?
>> No, I'm being honest. Did you understand what he said?
>> Okay, are you ready?
>> Hold on. No, no, no. Watch this. How how old are you?
>> 52.
>> He's 52 years old. Would everybody agree he's very well educated?
>> Why? Because his language sounded very educated. Hey, have you guys ever heard a doctor and they go and they try to talk to you like a doctor does and you really don't understand what's going on? So, I want to tell you one of the reasons and you guys understand money, but I want to give you one of the reasons why this is the kind of money that our company makes and we're about to add more. I speak to people like they're a two-year-old. Hey guys, sorry to interrupt the video. This book I am more fired up about than anything else I've ever released in my entire life. I literally would have given my legs to have this book the last 25 years. I've spent five months in Dubai when I was gone building this entire book with the 50 most deadliest closes on planet Earth that will work in any industry. And you guys can get this book right now. Go down to the description box below on this YouTube video and click the link, fill out your information, and you guys can get your book. Remember, this book right here is going to change your life and you guys can get it now. Go down, get it, and then let's get back to the video. I'm not better than anybody. I came from poverty, okay? A lot of people that have money actually came from poverty. A lot of people that have money got money because they are they do understand money, but they work really hard. They built teams. They do they do good works. They're great people. But honestly, I try to never talk over someone and sound too heavily educated. So I so I would say something like, "Hey, number one, I totally understand. Look, let's look at this one of two ways." And in the end, it's your decision. Is that fair? Now, you'll notice I'm giving you a way out. Everybody listen to me. I never want to box anyone in. Always make people feel like there's a way out. Do you understand? Okay, watch this. Once I pull up this wall, what happens? Pressure box. Listen, if you love people, always leave a way out. Listen, number one, I totally understand. Obviously, you guys are in the market for a nice piece of property right now. You went through the time, the the showings, you we've made it this far to now you know that this is going to cause an inquiry on your credit. I know that this is pretty serious because when somebody takes it as far as a credit application, they're normally ready to do something as long as everything works out. Does that make sense? So really, it's 99.9% done. But here's what I want to do. I'm going to show you two different ways. And in the end, it's completely your decision. Whatever you want to do. Is that fair? When I say that, what it makes you feel is you're not boxed. I want you to feel that there's a way out. But there's really not a way out. Do you understand? What did I say? Always make always sell the exit. In the end, it's your decision. It doesn't matter. Either way, I'm good. Because a lot of the times what we try to do is that we try to say, "Hey, listen. This is what it is. That's what it is. And that's what it is." And basically what that feels like is take it. Do you feel me? We never want someone to feel that they have to take it. We want people to make it their decision to take it. So I I listen, if I can teach you anything, paint pictures, tell stories, sell ideas, sell situations, influence, persuade. So I would say, "Hey, I totally understand. I'm going to go over two different options." And in the end, it's your decision. Number one, I love what he said, and if you broke it down, he said, "Listen, basically what we're going to do is that we're going to date the rate, but we're going to marry the payoff." And let me explain what I mean. Right now, this property is $1 million. Okay? And this $1 million home that that you're buying, um, two years ago, it was a bidding war and it was a $2 million home because everybody was paying whatever because they were bidding 500 grand over what it was worth to get it. Now, at that time, right right now, the the prices are down, but the rates are up. So, the rates are 8.99%. But two years ago, this would have been a $2 million house, but rates were 4.99%. Now, I want to ask you a question. If we had a time machine, and I could say, by the million, you owe the bank a million. If you were to pay it off today, you would pay off a million, but you're going to pay 8.99% on the money. Or you have to pay 2 million, which means if you want to pay it off tomorrow, you're going to pay me 2 million, but the rate's going to be 4.99. Would you take A or B?
>> I would take A.
>> Right? Because you date the rate. The rate is always refinancable. See, Feds are always going up and down in rates. And we know when we find that the money's right, you don't have to pay cash for the money today. I'm not asking you to come to the table with a million. I don't want you to come to the table with the million. I want you to get the deal at the million and borrow the money until the feds, which with Trump being in, something's going to change in the next 24 months. He's going to make something happen. But when it happens though, the rates are going to go down. At that point, you're going to refi. Now you owe the million. The rate comes down. You win. This is a winwin bigger situation. Does that make sense? Two years ago, this wasn't a win. This was a win. But all these people that have the low rates, their properties values went down a million dollars. you're going to buy here and by the time it goes back up here, you've got a million in equity because you took the the free money. You took the money. And so basically all I want to say, you did a good job. I understand everything that you said. The only thing that I would say when someone handles an objection in this room, I want everyone to be able to understand it. I always talk to everybody like they're a two-year-old. Why? Because if everyone can't understand it, people won't move forward if they're confused. And people honestly when they're confused won't tell you that they're confused. They'll just say, "I got to think about it. I'm going to get back with you." People have this thing called ego. And when you start saying things, I'm like, "Okay, well, you know what? Let let us let let's get back to you." Basically, I don't want to say I don't understand. But truthfully, a lot of people really don't understand. Would you agree 99% of the people in the world don't understand money?
>> Yeah.
>> So, what are we doing? We're figuring out that sales and communication is the whole to everything.
>> It's everything. I made 500 grand when I was 20 selling cars. That's 20 years ago. How many of you by by a show of hands make over 500 grand in this room? Everybody raise your hand. Over 500 grand. Everybody look around. It's not enough hands. But it's not enough hands. Do you understand? If you guys listen to what I teach you today, making a half a million bucks is easy. And you could say, "But I'm only 18." Shut up. That is a leash. It is a leash. And hey, listen to me. I'm going to be honest with some of you guys. At 40 years old, and man, and then I'm going to get straight to teaching. I put the birth of a strategist. I was running the wrong play my whole life. I thought sales was high pressure, salesy, all that. Sales to me was not helping someone. I'm going to tell you guys something. This is so crazy. And I hope I hope you guys really understand this because it'll be the only way for me to ever have you really understand what's going on. Who in here, I already know you're all going to say, "But would love to 10x their income?" That's kind of a silly thing to say because people would would love to double their income, right? I mean, Spencer, if you double your income, that's pretty cool, right?
>> You want to see something really crazy? If I if I share this with you, know you can only get this if you're willing to do it. Is that cool?
>> Hey, by the way, I'm not telling you what to do. I'm telling you what worked for me. So, in case anybody's like, I don't know. Okay, cool. Hey, listen. Listen. Your what you're doing now has given you the exact life you have right now. Everybody, your current money situation is what you're currently doing. If you don't want to change it, lets me know you're fine and okay exactly where you're at. Do you get it? And I'm going to tell some of you, I see some of you yawning. I'm g I used to make people like do push-ups and all kinds of stuff. I used to be pretty militant. But you know what I understood? Honestly, these people that are yawning, if I walked over and gave them their cell phone and let them play it on social media, they wouldn't yawn anymore. Your mind craves entertainment. It doesn't crave education. Your mind wants you to stay broke. Do you understand? Do you guys get it? As you're trying your hardest to listen to me, some of you are in the back. You're like, "Nobody can see me. You're on your phone. You're disengaged. You're never going to make it. You wasted your money coming out." I am in the industry of of of building the the most elite 1% in the world. I 50xed my income by doing one simple thing at 40 years old. This is so freaking crazy. I reinvented myself. What does that mean? Is that stupid? Reinvent. What does that mean? That means this guy that has hair, we may shave his head. No, no, no, no. It means it this guy right here, it may be shredding him down and getting him ripped.
>> Reinvention is two things. Number one, looking in the mirror and being unrecognizable. I want to I want to share something with you. If you guys look up to me in any way, shape, or form, you know, if you see my old pictures to now, I am unrecognizable. See, I didn't like that guy. I don't know how that guy ran around for so long. And I get why my wife was constantly nudging me to change. But one day, I looked in the mirror and I realized that I really have a problem with this guy. That's when I changed. Also, on the inside, I started to change. The stuff that used to trigger me and make me mad now triggered me and fueled me to get better. I realized that when I saw somebody that had something that I wanted, it drove me to figure out how they got it. And I knew that if I could just figure out how they got it, I could get it, too. Guys, I beat cool people for a living. I'm not cool. I don't want to be the cool guy up here. Who am I? I'm a voice for underdogs. It's truly who I am. Matter of fact, if you're rich in the room, I honestly probably don't even like you to be real. No, honestly, because I normally don't get along very well with rich people because I love people so much and I'm so humble. Normally, as people rise, they rise in accolades and money in the world, they get distant from God. They get distant from where they came from. They forget why they started and they lose their humility. And I hate these people. I walked into a church at 22 years old with holy jeans and an affliction shirt on. I wanted to try to find God as a kid. I needed help. This lady walks up to me. Some rich lady. I could smell she was rich. I could smell it. And she and she looked at me and she goes, "Can I help you?" And I said, "I'm here cuz I want to go to the service, you know, the church." I had never I had never walked in a church. Imagine the courage. I sat my car for 30 minutes. I got smashed the night before. But I found myself to church. I want to tell you guys something. You ready? Someone is going to be looking up to you right now. And they've been waiting on you to change. This lady had a chance to change my life at 22 and she turned me down. I hate that lady because of that. I could have been way further ahead if she would have just shown me a little bit of freaking love. If she would have believed in me. And so now I'm like