[...] I needed a third business not dependent upon my genius. my personality
and this was the first business that could run by itself. It was real. It was apartments.
Unlike what you have here. You don't really have what I buy.-
-Okay- -...In the UK, so these are large apartment complexes:
fifty units, a hundred, three hundred units, five hundred units where people rent. Where they live.
-Okay, right. Not these tall size scrapers. So most people buy individual-
No, no, no. Those are one... those are single units and a big building right then a bunch of people share.
These are... these are...
I want the renter. I don't want to sell the unit right? I want the inn. I want the cash flow.
That was the third business.-
-Okay, and why real estate why that asset class for you?
You said before you only invest in things you can see.-
-Yeah, you know...
I've just always loved real estate. I think I think most people resonate...
real property resonates with people.
Unfortunately, most people just buy the wrong kind of real estate. You know, again, it's a selfish decision
to have a home...-
-Okay. Most people shouldn't buy a home.-
-No one should buy a home.-
-Interesting, which is the opposite of the American...-
-Homes were not built for people. Homes were built for banks. The bank created that product.
To sell money you can't just loan people money you need a product in between.
Like when people start really understanding when I'm telling they're like "Wait, what did you say?".
The bank can't lend money for just money.
Like you need a reason to borrow money. "Oh, you're starting a business.
That's a reason." But it's really risky for the bank.
What if a bunch of bankers sitting around drinking bourbon:
"Do we need to lend more money? We got to lend money?
Oh, man, that's how we make money!
We get people to give us a dollar we lend it out in nine times."
I read that book when I was a kid, man. When I was 16 years old.
So... "We lend it out nine times!
We need something to lend the money on".
So back in the 50s are like "Everybody should have a home!"
They grinned.
Everybody should have a home, right? "Oh, man, that's pretty goodness.
We should call it something like the 'American Dream'."
Can't just call it a house, right? Everyone should have one, right? They got the politicians on it.
"Yes, everyone should have one."
And then, what they did was, basically, those homes were built for banks
because, who made all the money on the homes?
Wasn't even the builder. Certainly not the homeowner. It was always the banks.
Colleges? Was another scheme by the bank.- -Okay.-
-Everyone SHOULD have a proper education!
But they don't have the money for it... but they SHOULD have it.
And it as they offer debt, as they offered free loans to college students and families
those tuitions went up...- -Right.
So we've been sold a big old fat lie...-
And what do people say when you tell them that? You're crushing everything they've been told their whole life.
They're like: "No, Grant, that's not true. I want to own my home."-
-Most people are gonna write me after this interview and say "can you explain that again?"
[ chuckling ]
Should not...? Oh, no. No, no, you should never own one door.- -Right.
And you had a horrible experience with your first single family home by...-
-Boy, what you've done, man? Nobody's done their research as close as you.- -Oh, come on...-
-No one.- -You've been hanging with the wrong people, Grant.- -Probably.-
-So that taught you a lesson: stay away from single-family homes.
I want a certain type of person with a certain type of income that wants a rental property,
who doesn't win by... and I'm in this asset class and I know how to do it in a word...-
-I mean we can do it... Look, I could come here and we can do four hours on real estate.-
-Yeah. No, I just wanted to cover it. So...-
-Yeah, yeah, yeah...-
-But it's interesting cause like I don't think most people know that you're like "I do this thing".
I mean most people never heard a "real estate guy", which you're not.- -Yeah- -...talk, say "don't buy a home".-
-Yeah.- -I mean, that's a fascinating statement right there...-
[ outro music, English subs by "Dani e Idiomas" ]