I'm a big believer in leverage and using other people's money, but it's a great way to go broke and get yourself in a lot of trouble.

5:48>> right? Okay. >> Because I wasn't building houses. >> So it seemed like maybe you took a project that maybe was a little bit over your head and then you're like, "Well, I have to make it work." >> Right. Yeah. Exactly. >> And did that work? >> Yes. Yeah. And that's kind of always how I've lived. So you're like >> And that was like how you got into real

6:02estate. >> Yes. It was it was I I I was completely overleveraged. So I'm a big big believer in in leverage and use other people's money, the bank's money, but it's a great way to go broke and get yourself in a lot of trouble. Uh and I know people that have done that and hasn't hasn't worked out very well. >> Dude, that's like how so many great

6:20things happen. Particularly I'm I just turned 37, but like I think about this all the time. Like if I lost it all, okay, I have young kids. I'm now like a proper man. I have people who rely on me and like if this go it's like it's my job to like you know to take care of this group. It's like the most emasculating feeling ever of like [ __ ] I

6:38have not taken care of the thing that I'm supposed to take care of. I feel behind and now it's my back against the wall and I have to and it's like well that's the beginning of a great story. >> Hopefully it's going to be a great story but that's like a very scary primal feeling. I have nightmares about that as like a dad. Did you um >> Yeah. I think. Hey, should we also do Do

6:56you want to walk out step outside and um Oh, dude. Now the sun's coming out. >> How many So, you've been doing this. How old are you? >> How old do you think? >> I don't know. >> Come on. >> 55. >> 51. >> 51. I don't know, man. See, this is why I hate playing this game. >> No, I'm not. I'm 60. 63. >> Oh, [laughter]

7:19>> I hate that game. Oh, >> so do I. I usually say, "Go [ __ ] yourself. I'm not playing." your specialty. I think it's town homes, right? >> Town houses, Brownstones uh res restoration. >> How many have you bought and sold? >> So, this is my third my third big project of of restoring Brownstone. So, 62 Green Avenue in Fort Green, 428 Vanderbilt, and 94 Bank Street. And then

7:39I've got and I've got other projects like in Crown Heights, one over here on Jane Street that I I um act as the owner's rep. So, I don't own it, but I I you know, run the project. And then before that you were just selling real estate. >> No, but I borrowed against my house so I could buy another one. >> That's insane that you would get into

7:58this business without knowing anything about >> and at a big high level. I mean, you know, >> did it how much did you how much had you you took a loan out? What was your >> So, all right. [music] So, so the the numbers on the first one and the numbers back then were basically you you buy for a million, bill for a million, and sell for 3 million. So, you make a million