[00: 00: 00 – 00: 00: 24]

Sometimes it looks like that they’re more for the renter than gets, I mean, than the owner, where we are the ones that actually help in business. Let’s be clear. You don’t have our cards. You can’t do anything. Right? So I believe, and I would like them to put more emphasis on the house to help us out but it just it’s not like that at that moment. Some people experience this a different. This is my experience. Hyatt car the same way. If anybody doing Hyatt car, I’ll just tell you it’s gonna be a headache.

[00: 00: 25 – 00: 00: 50]

Welcome to the share the wealth show where minority professionals can learn to escape the racial wealth gap and catapult themselves into abundance. Your host Nicole Pendergrass, who her net worth from being negative to multiple six figures. Join her on her investigative mission to expose secret strategies of the wealthy so we can all have the tools needed to build the life and legacy we were created to possess. Now it’s time for the show.

[00: 00: 51 – 00: 01: 23]

Hey, guys. So we’re back again. This is the second part of the episode with today’s guest. I need you. If you have not heard part 1, go back to the previous episode and listen to that first and then come back and join us here today. But you’re not gonna wanna miss what they already said because then you’ll be lost with what they’re about to say. But in any case, you don’t wanna miss the whole, you need to hear the whole conversation is why we split into two parts. There’s so many nuggets. It’s so juicy. Go back and listen to the first part. But anyway, hey. Okay.

[00: 01: 24 – 00: 02: 29]

I already knew this was gonna be long because we didn’t even it’s all. We got anything for the state. We got into you do the wholesaling about 12 deals since 2018. I know now you are also, are you still working a full time job? Yes. Okay. Haven’t you replaced your income yet? Why you’re not? Oh, because that was because wholesale is more like a want money and not residual or comfortable with it or what? It’s real. You know, that’s real active. No. I have actually placed my income. I had. So now it’s, yes, the other thing, right, is, um, now switching to mindset, like, like, switching, like, completely turning off the employee, like, completely shut it down and move it over into this quadrant, right, and go full steam ahead. I mean, you’re talking about benefits, 401k, pension, you know, stock options. And you’re talking about 4 figures a week. You know, it’s great money. It’s Kanye. So it’s the Garland handcuffs. It’s the golden heat ups. Yes. It’s the gourmet. Oh, no. That’s all.

[00: 02: 30 – 00: 03: 05]

And you know what? You know what? I’ve made a commitment to myself that we’re going to do a, um, a leave of absence. Right? I’m gonna do a leave of absence, right, because I’m not fully ready to take that leap. I’m gonna take my lee legal absence for, uh, for 3 months and then extend it to 6 months. Right? And then in that time frame, I’m actually mapping it out, like, if I could show you, I’m mapping out to this thing right now. I started yesterday. And what I need for compass in that 6 months so that I can be like, in the 6 months, okay, my paper come with that. I’m gonna type. Right? Um, so that’s what I’m doing now. Oh, that’s so smart. Okay. Alright.

[00: 03: 06 – 00: 04: 27]

Because, you know, I’m right on that verge of, like, planning my exit got, like, one foot out, but what my transition was gonna be was finding a part time remote position so that, 1, I could be free from having to stay in the New York City area, which is more expensive. I could see how far my dollar stretches like moving down out or somewhere like that. And but still have my remote job, but still we part time so that now I still have more time to do real estate and really build that up. To get to meet where I can actually step away because of the murdered handcuffs. Like, I have kids. They’re young. They need doctor’s appointments and dentist appointments all the time. Like, it was just me. probably be like, uh, I don’t go to the doctor that much, so I should be okay. You know? But which is probably not the of the best — Not the best way. No. as soon as the analytics business, when something will happen, and I’m a need help health insurance. I’m looking at a $10,000 bill. anyway, so that is that part time is really to keep me in healthy health care and health insurance and things like that for my kids and the family and stuff. So that’s where I’m like, oh, I need to make more than enough to cover marketplace health care. And then I could step completely aware from, you know, the we feel even if remote part time. Or I think having a leave of absence, oh, that would be so great. That’s a jump to another thing for me to think of.

[00: 04: 28 – 00: 05: 23]

Yeah. Yeah. I think and, you know, I was even thinking about you’re having it too, right, was putting myself in another position, another role in the company was gonna give me more time. But my thing was I just didn’t really select selling myself. I didn’t really select putting on that mask and going through the interview process and selling my, like, I know I could get it. I know my privilege, right, I’m black, I’m women, and I’m queer. They want me in these higher positions. You know, and I’m great. You know, I’m good at what I do. Well — I think that’s the biggest thing. You’re good at what you do. Oh, yeah. I have no idea than anything else. Yeah. For them, just like it’s a quota thing, but it’s cool. Like, I’m alright. I know I understand it, but I just don’t feel like going through the process. I’m feeling like going through the motion. So I’m like, look. I’m supposed to take a step back altogether, right, and focus on my businesses. And, hopefully, you know, and that’s 6-month mark, I could be like, alright. This is it. Or I’m coming back. I ain’t coming back.

[00: 05: 24 – 00: 06: 06]

Alright. That’s a good design. And they’ve gotten me something else to think about in my head. They give me that time Sometimes you just need space. You don’t have time to think. Like, when things are so busy, you’re always at work at home with kids and all the other things. It doesn’t give you that time to actually have the brain capacity to sit and think about the next steps and actually implement and be more intentional because you’re always putting out fires. Right? So, yeah, Jesus. It’s already 30 minutes. Okay. Yeah. Thank you. Gotta talk about we gotta talk about the cars. Let’s do it. We gotta talk about the cars. So Actually, that might be my next step. Don’t give up on the card before I get started. It’s sweet. It’s best to be harder. Alright. Hello, everybody. What you doing with cars?

[00: 06: 07 – 00: 07: 43]

I’m doing cars. Right? Torro. Um, high car. Torro cars. It’s just the next big thing. Right? And I’ll be honest with you. I’ve read it. I vetted to the shiny object. Right? I know nothing about this this industry. It just happened to fool all my neck through my through my way in my niece. And then I happened to go on club house, and I was clicking a real estate room. and I clicked the Touro role. And I was like, well, what’s this about? Right? And I listened, and I just felt like, god, are you trying to tell me Right. So I’m like, okay. Okay. Kinda played about it. You know, pretty cool. We did my little search, jumped on as many three things to the camp, and decided to jump in. Uh, jump in. We’ll be in, being 22. So I got the car in 19. Oh, man. The door says 19. So I got the car in 2019. No. 2020. It’s gone 2020. Okay. Yeah. I’m lying. 2020. Yeah. 2020. I’m looking at that. Well, I’m just, again, Tarim is Anyway, so I got my first car. I got a Honda Accord Sport. Right? Uh, I actually bought into a program, cost me about a $1000, bought in the program, uh, we’re a young lady, and this is, um, SLD. Uh, anyway, I brought her to this program. And what she did was she was just getting into the tour role. So she kinda, like, got to document her process and, you know, bought into it. It was total and Airbnb with both of them. Uh, so if she’s, like, actually taking us to diligence, what to ask for, how to get it in your business day and taking it, like, really, really hand my hand, you know, hand in your That’s it.

[00: 07: 44 – 00: 09: 45]

Alright. So, miss, I’m gonna have to get that link to that program from you so I could put it in the show notes that people are interested. Got you. But keep going. Got you. Got you. So in my one on one with her, you know, we was talking about courts because see I got herself in the court, and I asked her, why did you get yourself in the court? you know, because she has obviously a high, you know, luxury vehicles as well. And she was just like, um, because you can’t record. You can’t record. It’s a huge, you know, it’s a reliable car. It’s a huge community. People love accords, established. When she go into the whole school, and I’m like, okay. You’re right. I’ve never went to budget or Avis and got myself around the court or a Civic or a passport. or any of those cars, right, Hana just don’t do that. And I’m not sure about the auction. I’m not sure how that works. Any event, I decided to get into court. That’s what I drive. I’m a Honda court lover. Okay? I am. It’s just the car of my choice, and I decided to get me in a court, the sport, Dang. Okay. And this is a quick story. I got the car. I went to AutoZone. There’s a nice parking lot right next door to it. Started taking pictures. I just sat in the car. Put it on to a row. Put it on to a row. Got home. My knee seen it. On to a row? She’s saying it on sorrow. It was her what time I got home? Yes. That’s it. — didn’t know that it was you or she knew it was you? No. She know it was me. She saw odds and they B. It came up. She was just looking for cars in Linden. I put Linden. She needed a car to get back and forth to work, and she said my car popped up. She’s not arming me. She called me too. She reserved it. And she said, Tete, did you get the car? And I said, yeah. And she was like, I reserved it. I was like, Yeah. Yeah. Crazy. Yeah. And from that day, I that car is I don’t see the car. I had it on twirl. It is making money. Right? I’m making, like, 1200 a month. The cardinal was 4 and change, and then the insurance. So it was my fault for everything. So I’m like, Okay. This is cool. Right? So I get more cars, and then I learn about the private, um, aspect of it. Right? You can go private. You can take them off the platform. I see more.

[00: 09: 46 – 00: 10: 57]

So, basically, going private is kinda like having your own car rental agency? Yes. Yes. You are direct to customer. Wow. So one, uh, there’s a couple things. 1, I wanna know I want you to tell everyone because I know, um, how you finance that car. And then 2, I want to know I guess, what the pros and cons are of being under the Touro umbrella versus doing it private. Okay. Cool. Uh, great questions. Uh, how did I finance car. My first car is strictly financed under money. I went to Navy Federal because I think when Navy Federal got myself an auto loan and got the car. And this was the time before the that the car rates were car prices were inflated. I got it at a real, really good price. And, yeah, but my other car is, like, in my business name. Because I then learned how to do that and decided — How difficult was it to get it in your business name? It wasn’t difficult. Well, I did have to, uh, I did teach you one car. And this was a brand new LLC. Oh, I’m sorry. Um, uh, personal Gantor. Okay. Alright. One of them Well, it was just so strange that it didn’t. They p g for one car, but the other part, they didn’t have the p g for it. 2 different banks. So I got the both in my personal name. Oh, we need it. I’m sorry.

[00: 10: 58 – 00: 13: 24]

So which bank did you get PG or which bank didn’t ask for PG? PG was TD. Okay. Uh, capital. No. PG. Okay. Yeah. Capital 1. Mhmm. And you got them on your business. Did your business need, like, credit build up first? You don’t know. Again, I just gave some I just created that LLC driven USA. It’s not even two years old. I mean, at that time, it was a few months old. To be honest with you. Okay. I just gave it to the guy because we you know, the guy we kinda was working over the phone, I didn’t even have to go to the dealership. Um, and I was like, listen. Try to my business name. and he didn’t. He’s like, y’all, you gotta prove it. Oh, at least. Yeah. Nice. So now I got I got, like, a 2 LLC sitting at 80 82. Uh, my payback is 82. I mean, 80 is 80 is 80. Nice. And the top payback is a 100. Right? It’s a 100. Yeah. Okay. Yep. So I did I did get me a  thing of business credit. Man, that that’s what I’m gonna use to get my properties you know, use other people’s money. So I was able to stand for it. Alright. And then, uh, we were saying the pros and cons against Touro versus private. Everything is on you. Right? When you direct the customer, everything is on you, the insurance. So you have to go and get the proper insurance. That’s gonna be commercial insurance. Right? You wanna do I mean; some people do it with their regular insurance. But, again, if they find out, you’ll get yourself into some trouble. Uh, it’s not what I wanna do. I wanna be as legal as possible. So I went to commercial insurance where it got commercial insurance to Lula, and then I also — What? Lula, l u l i. Oh, I mean, l y a. l l u l a. Okay. Correct. Lula. I used Lula. I was going with, uh, ABI, ABI’s American Business Insurance. Uh, I was going with them for a little bit. However, when the car is not they only ensure you when the car is not being rented on the platforms. Right? But and then and they give you a mileage restraint. So it just didn’t work out with them, but they’re a great company, and their rates are much cheaper than Lulu. Okay. However, I got Lula, and then I also got, uh, rental cover, which is a supplemental insurance for the guest. if they, you know, if they choose to go that route, it’s just extra package. Okay. Which I always push my guests to do that, but it is it’s totally up to that So the pros and cons, you know, Torro is great. You know?

[00: 13: 25 – 00: 14: 34]

The pros is that they offer you protection plans. The pros is that you know, they allegedly, you know, they screen the people before they actually are allowed to wear on a on a platform. Um, the pros is that they take care of you, you know, for the most part, it’s a little frustrating sometimes on what they’re gonna cover or what they’re not gonna cover. Same thing is going back and forth with your insurance company. The cons are you have to split your profits, but, though. Right? That’s the cons. And sometimes they don’t give you all the money that you’re supposed to get. You know? Sometimes it looks like that they’re more for the renter than gets, I mean, than the owner where we are the ones that actually help keep them in business. Let’s be clear. You don’t have our cards. can’t do anything. Right? So I believe, and I would like them to put more emphasis on the house to help us out, but it just it’s not like that at that moment. Some people experience it’s a different is my experience. Hyatt car the same way. If anybody doing Hyatt car, I’ll just tell you it’s gonna be a headache dealing with Hyatt car. Just interact your own risk. So I want to be completely off the platform because one I wanna keep all money, I want to be able I wanna be responsible for all of it. I wanna have to go to I will wait for them to give me a response, tell them what they wanna do with my damaged vehicle. Right? Let me deal with that.

[00: 14: 35 – 00: 15: 43]

So and then, you know, everything goes to me. So my cars, I keep them. They’re all Honda Accord’s in the Camry. We’re on the same price range for 50 a week. Everyone seems to have a I mean, I had him at 4:75. It wasn’t a big deal, but I dropped it because I’m not greedy. I’m really not. I  look at what, um, what the going price is for, you know, like, um, Uber’s offering, what led this offering. And then what budget in all of them is offering per week, and I’m coming in still below. I’m making the money that I wanna make, and everybody is happy. So now how much do you make per car now that you’re off the tour? Around 1800. And you said the principal payment is how much? About 6. Yeah. Yeah. And it’s actually probably like, well, like, $500 more being off of Tara? Yeah. Um, actually, it is 600. 600. Wow. 600. And I’m — Pleasure with a shrug. Uh-huh. Uh-huh. Her month, that’s crazy. Alright.

[00: 15: 44 – 00: 16: 23]

And that’s why I need to partner with you. And we need to talk some more. I need to set up my LLC, get go to these banks and stop pushing it off I’m all about implementation on this show, so I gotta lead by example and actually implement. So the next time I hear you guys hear me talking about it, I need to have some cars with miss an over here. Don’t let us go. Oh. So you if you wanna New York meet Jersey area, y’all careful. Your biggest I want my biggest headache is Eaton Pass, uh, toast by mail, New York City department of finance, both of my biggest headaches, Well, other than that, we are we’re pushing through it. That’s everybody’s biggest, hot headed. Yeah. Ryan getting light. Right? Have you live over here? Yeah. You settings.

[00: 16: 24 – 00: 17: 35]

Oh my goodness. Alright. So you gave so many information. Oh my gosh. So much information. Alright. And I need to ask you these final four questions, but the thing is I want people to just you gave all you gave, like, the insurance you gave, you’re gonna give, like, the person who you did the training with for the cars. Like, even the wholesaling, I don’t know if the guy who you got the whole did the whole selling program with if he still does it, but at least I think I have his YouTube channel. Like, all of these all his information will be in the notes and you guys can really dig in and figure out, you know, what fits for you. If you need to get extra capital, even on the side, look, Andranae has a full time job, and she’s still doing all these entrepreneurial ventures. Right? So you have no excuse not to find something that sits you and you can create that extra, but you can create that passes income. You can give make your job optional. Doesn’t mean you have to leave. Aid didn’t leave. She’s still there for now. but we can make it optional. Right? And you have and that’s the whole point of lies and freedom is to have options. Yeah. So I just love your story. Um, it’s very inspirational. Everything that you’ve been doing.

[00: 17: 36 – 00: 18: 42]

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[00: 18: 43 – 00: 19: 19]

But yeah. So now we’re gonna switch gears. and go into the final 3, 4? I don’t know. because I didn’t I had 4. And that’s a yeah. I have 2. Actually, I added 1. Uh, but I actually didn’t, like, come up with a name for this final segment, uh, but everybody knows it’s coming. So, anyway, his question. Warren Dessett said that the diversification is protection against ignorance. I’ll take that to me. Basically, you diversify if you don’t really know what you’re doing. But and I don’t know if that’s good or bad. It just depends. What do you think about that phrase? What does that mean?

[00: 19: 20 – 00: 19: 56]

Yeah. I think that, I mean, to be honest with you, in every aspect of life, right, I think that it should be some solid diversity. Right? Food. You know, uh, Haiti. build the relationships and then in business. Right? It should always be some type of diversity just so you can continue to learn. Right? It is important that we always stay learning. Yeah. You know, it would it it’s important for me. that I always stay lying. I don’t wanna get complacent. So I think that’s the that’s the that’s the that’s excellent, um, quote. I live by it.

[00: 19: 57 – 00: 20: 20]

Good. I love that answer. Always be learning and always looking to not be complacent and to grow. So that’s a great framing of what that quote means. In the game of monopoly, you pay a monopoly before. Right? I have played monopoly before. Okay. I was just waiting for you to say no. Alright. Born, or Baltic. What’s your strategy and winning the end? Which one are you buying first and why?

[00: 20: 21 – 00: 21: 08]

Well, for what I understand from the way the game goes, I believe Baltic, you could buy it right away. I believe that you don’t have to go you don’t have to pass gold by ball too. Right? I believe that’s how it works. And if that’s how it works, I will buy ball too much. I’ll buy both of you first. And then as I make my way around the board, of course, Bulldog, I mean, you’re getting higher rents. Right? It’s like, a lot of money to land on that, especially if you got some hotels on there. And, um, what I like to if I can get into the real estate game quicker, start here at Baltic, I’m gonna get my Baltic first. Okay. Opportunity costs. There you go. Yeah. Time value of money. Alright. So this is a question I kinda just added. What does wealth mean to you?

[00: 21: 09 – 00: 22: 01]

Oh, Wells. You know, I’ll be honest. It’s the ability to do what I want when I wanna do it. It’s the ability to love I want when I wanna love, you know, when I wanna do it and how often I wanna do it, right, have them my loved ones around me and living lives. I mean, it really doesn’t have anything to do with money, to be honest. It’s in it’s internal for me. And I’m not there yet. Oh, really? Um, the money is the vehicle to get you to. Yeah. All of those other things. Perfect. I love that. What is the one thing you need to take your business or next business, current business, whatever business you do with that to the next level I need a tea. Okay. I need a solid tea, and that’s gonna get us to the next level. Yeah. Nice. Love it. Alright.

[00: 22: 02 – 00: 22: 57]

Thank you, hydrogenate, for being odd today. This was really fantastic. Um, can you tell our listeners how they can connect with you and also have all of that in the show notes too, but what’s the best way? Uh, Instagram. Instagram is probably gonna be the best way. I am starting the new, you know, YouTube called the 95 entrepreneur, where, you know, I will go a lot more in-depth all my businesses, um, and then about me, you know, just me and how I got here. So 9 to 5 entrepreneur, 9 to5 entrepreneur on Instagram. My business as a badge, Vivint USA, LLC, Instagram, um, broken houses, LLC on Instagram. So you put the in front of Illinois, you will find me, shoot me a message. If you have any questions, I am here, I give the game. You know, I’m not stinging you with any of the knowledge. I wanna see us succeed.

[00: 22: 58 00: 24: 02]

Yeah. And I could tell just by all the game you gave today. So that’s great. If people ain’t taking notes or writing it down, that’s on that’s on y’all. We’re trying to share the wealth here. Right? And so you’re not, uh, you I can’t share it if y’all don’t take it. That’s not it. But, anyway, so Thank you so much. Again, yeah, this was fantastic. I really appreciate you coming on, and we’re gonna chop it up a little bit. I can’t wait. Let’s go. Alright. Bye, everyone. Thanks for listening in with us today. Don’t forget to shed a wealth. Please shed a wealth. Anybody out there that you have some knowledge Um, anything you wanna, um, just don’t be stingy with anything that you know, just give it to the next person. Don’t die with all of this knowledge. Exactly. And share this so to share the show with other people. Well, if this has been helpful to you, if you’ve gotten information, if you love the show, make sure you rate and, um, like, and rate reply. All the other stuff on iTunes and whatever the platform she listened to. And make sure you share it with someone else so they can get this knowledge too. Alright. Thank you, Nicole. Appreciate it. Thank you. Peace out. Peace out.

[00: 24: 03 – 00: 24: 28]

Did you love this episode of share the wealth show? Be sure to connect with Nicole by following her on LinkedIn, Instagram, or Facebook. If you picked up any of the gems that were dropped by today’s guests, make sure you not only put them in your bag. But if you know of someone who would benefit from this information, then keep it to yourself. Share the well and make sure to leave us a rating and review. We’ll see you for next week’s episode. Subscribe so you’ll be notified.