Day of Real Estate Investor 2025 #investing #realestateinvesting #money

We're at a property we purchased about nine months ago. Why are there boards on windows? This is about to be all redeveloped if you don't do it and we don't do it. You're paying for something? With the company card. Gotta keep inventory. I'm paying for something. 384 units? Yes, sir. You know what kind of deal that is? About 60 million. More than that. I wanna see a report showing me the whole year's worth of laundry income for the mainstay hotel. Have it on my desk by 5 p.m. today. I'm gonna go corporate on your ass. Here we are. We're at a property we purchased about nine months ago and we haven't given a lot of attention. Why? Typically we just turn the place over to have you say, here, handle it. But now, it's nine months later, I wanna come back and check on the progress. I want this hotel looking like new money, baby, because I want this place to be a very special place. See that building right there? Brand new. You know what it is? Medeco. We have one of the best and biggest cancer treatment hospitals in the world. People fly in from around the world to come to Moffitt Cancer Center. So I wanna have a nice hotel, so when people come into town and they're dealing with a horrible thing, they got a decent, nice, peaceful place to stay while they're dealing with a major catastrophe in them and their family's life. I want this to be a trophy asset. When it comes to real estate, always judge a book by its cover. All right, what are we doing about the rest of the landscape? It still looks like shit. What? This looks like shit. Tom Turner needs to come in here and do something. The grass looks fucked up in the entrance here. What are we gonna do? What's the plan? We ripped out all the dead shit. You did, and it's great, but we can't leave it like that now. It's depressing. What, take out one or two little plants? I don't know. That's why we have a head of landscaping. Hello? I said my phone keeps rejecting me. Yeah, I know. You've been rejecting me ever since I met you. We gotta get this place looking like really nice. The front, mainly. Why are there boards on windows? Because we don't have windows. Well, Happy, I sent him the measurements last week, and he ordered more. We don't have the frames? Are they- What happened to them? And everybody- Put it on the list. That's ridiculous. Holy shit. This is crazy. When Happy's busy right now, if I'm gonna tell him to call me, every one of these windows done ASAP. This right here looks like shit, and I want that tree stuff gone. This grass looks like shit. This gotta be fixed. My dad has always been like, bat, bat, bat, get it done, get it done. And he's right, because there's no reason. We got the money, we got the ability, we got the manpower, we got everything that we need to get it done. It's just pure procrastination. I want these people to know when they check in. If people check in with pets, they have to pick up the shit. We got the damn bags out there, right? Put another bag stand out here, and you gotta enforce that. But I need new lawn here. Ben! Yes, sir. You feeling strong today? I'm setting up the window, yes, sir. You feeling strong? Put your phone in your pocket. I got trigger finger. I can't do anything with my right hand. Look at that. You see how ******* simple that was? Rock and mulch that. Make sure you get a picture of that. I need all these areas handled. Can you fake grass here? Fake grass would cost too much. Fake grass is about $5 a square foot. He's talking about fake grass would cost me ridiculous amounts of money. And then you don't want people walking their dogs on fake grass. Vincent! Fix the sign! Man, Vincent can't fix his sign. I'll fix it. Ow! There you go. Stick a piece of wood there, Manny. No, we need to pour a little concrete. That's a trip hazard. That's too much to grind. No, it's not. We grind this shit all the time. Manny's done it. That much? Fuck yeah. I don't know if you can patch it or put a new door in, but. Just go to Home Depot and grab one. You need it? Go buy it from Home Depot. Own the what? New one of these. Why? 300 bucks. He said it's old, broken. Go to Home Depot, 300 bucks, and go get a new one. Better make sure it fits. Yep. But this door right here, I'm sick of looking at this door. I'm glad it's the day I bought this place. No, that's broken. Go get another one. All right, throw it away. Just take it out now. That's a liability. Yeah, let's pull it. That's a liability right now. All right, put it in the dumpster. I don't even think we need one right now. There's all these treats for Shane here. This is gonna be your baby, and you're not gonna have Vincent tying your hands, holding your back from doing a good job, all right? Seriously. He already did most of the heavy lifting for you over here. Who do you think spread all this mulch? Who do you think spread all the rocks? Your guys. Who do you think threw away? But as usual, you came over here, you did some work, and you let it go before you took it all the way home and finished it. That's the problem. Take it to the finish line. I went to another project. Now, Manny's gonna come in and save your ass. I wonder why all your properties are under contract right now. Stealing again. He's always stealing shit. Like when he was a kid. You got a house account you put it on? You're paying for something? I put the company card. Gotta keep inventory. I'm paying for something. How many rooms do we have down now? You don't know. About six. Why? We were missing TVs, but we got the TVs today. Now we're gonna need- So seasoned. We need to fill this ************ up. All right, I don't care. You gotta work longer hours, whatever the **** you gotta do. Less time partying, more time working. I want you to take this place to the end. Just, I'm sorry, whatever, except for very personal shit. Put everything else on a back burner and just focus on making this place done. I need every room online ready to rent. Okay? Please. And then if you need help, tell us. See if you gained weight since last time. Two months ago, Ben Jr. was 273 pounds and I was 298. You sure you took enough stuff out of your pocket? Yes, I took enough stuff out of my pocket. Holy shit. What are you about to do the same thing though? They're at a doctor's office. Come on. You think you took enough stuff out of your pocket? Oh! Keep that in my pocket. Don't worry much. My shoes weigh five pounds a piece. These are special- So take your shoes off. Oh my God. Two, no, he's 299. Under 300. Under three, still. No, 299. It's calculating. 265. Very good. I'm proud of you. All the hallways in the entire property and carpet has been redone. But I don't think we're doing the stairs. I don't think it needed it. I don't think this- I love this carpet. No, hell no. Hell no. Stop. No, you stop. You stop. This is a staircase. You're getting out of the 60s. I don't care about the color. I care about the quality. And it's garbage. Look at it. You don't need it right now. Clean it. High traffic area. Listen, these staircase carpets are good for at least another five years. You know what he just did, everybody? He would have said, okay, if it was this. But when he walked over here and saw that it was on the stairs too, he said, **** no. Cause he was almost saying, okay. Listen, let's use common sense. This carpet is in serviceable condition providing the people are cleaning it. Do me a favor. Can I just replace this? No. On the bottom? No. Why not? Zero. Those are carpet squares. Stop it. I don't care. Listen, we ain't got time to waste on good carpet. Carpet stays in a hallway, in a staircase. It's got more stains than Lil Ben's drawers. We did all the hallways. My drawers got a lot of stains. You guys want to just piss money away. No, I want to make this place look like those ******* carpets are garbage. Too cool. It's not easy making these videos, but there's a solution. People reach out to me all the time Videos they've always wanted to create. The kind they'd be excited to share with their friends, family, or colleagues without worrying about their skill level. That's where NVIDIA AI comes in. Just type your idea and it helps you create a video from it. It's now gathering all the data related to my topic. Unlike traditional video tools that are complicated and only help with parts of the process, NVIDIA AI acts like a creative partner. All right, folks. I've got some mind-blowing news about the 2025 real estate market that you absolutely need to hear. You can even make edits with simple text commands like add my voice. All right, folks. I've got some mind-blowing news about the 2025 real estate market. This is super easy. You can try NVIDIA AI for free. This will save you hundreds of dollars that you would otherwise spend on editing, animating, and other production costs. Click the link below and you could have NVIDIA AI as your creative partner today. Thank you NVIDIA AI for sponsoring this video. Now back to the program. You wanna open your fly and piss all the money away. You don't need it, you don't get it. You get what you need, not what you want. Look at these walls here. We needed that. Where we going, where we going, where we going? All the way down, follow Manny, follow Manny. Can we have a shed in here or no? A what? A shed. Yeah, of course. We can take a shit in here. He said, can we have a shit in here? Can we take a shit in here? Yes, of course we can take a shit. Maybe. Stop saying yes to everything. We'll figure it out. Yes, we'll figure it out. Do it and we'll ask for forgiveness. Look how nice this hallway looks with the gray voiceboard and the nice flooring. And then look at this garbage. You're nuts. That's a staircase. It looks great. Look at all these stains. Why are there so many stains? Are we okay with these laundry machines or what? Is it a company we lease? We have one out of order. Check on the income. Write it down. I want you to check on the laundry income. Yeah, we get a laundry income, yes. I wanna see it. It's on your P&L. Bullshit. I wanna see a report showing me the whole year's worth of laundry income for the mainstay hotel. Have it on my desk by 5 p.m. today. I'm gonna go corporate on your ass. I don't know, but I'm replacing this carpet. Wait till I tell Happy to do it. I'm gonna make Happy say it was on the pit. If he says it was on the pit, then I have to deal with it. We have six rooms down, and I want all of them up, running, and making money. We were in here last time. I know, but this is like the last of the last. This is a great unit. I wanna move in. You should. The point is, what are we gonna do for storage on this property? Shed. We're gonna put a sheet out there. This thing probably could rent for about 300 a night. I'll rent it for $2,400 a month. That's $9,000 a month. I know, but I told you I'd give you 24. And if you rent it 50% of the time, it's 4,500 bucks a month. I know I can make up this unit, then we'll lose it right now. Then you're gonna have to clean it, and then you gotta clean it, and there goes, takes half of that, and you should've just rented it long-term. Most of the rooms don't need much work, so what's the holdup? Right here, what we need is what? A cabinet, a fuckin' dorm, we can rent it, steal it, and rent units. We don't have nothin'. It's crooked. How much weight can we handle? It'll fit. Yeah, it'll fit. Stop pushin' me. I ain't got nowhere to go. You're like a friggin' Oreo cookie. Here's the cream cheese. Double vanilla. It's nice and soft, though. I'll tell you, like a teddy bear. They should make a bed out of it. They should make a bed. We come in, we're gonna show this thing as much love as possible. You gotta love your real estate, baby. You gotta show it some love. No, ****. That don't look good. Didn't we just have this pool redone? No. All right, this is unacceptable. We need this pool fixed right away. Who's gonna do it? You're not gonna like what I'm about to tell you. What, resurface the whole thing? Well, yes, and that this is fiberglass. Put it on the list. We gotta talk to Javi. What are we gonna do about this damn pool? But otherwise, the pool area looks good. All right, they haven't cleaned the unit. They gotta clean it. Hang a curtain, clean the unit, and get it rented so we can make some money. 1221, you want lunch? Sure. Let's go. Ben's first choice to eat lunch at is Bob Evans. See that? We come in, he give us the mafia table at Bob Evans. Brooklyn Mike called ahead. Yeah, we told Brooklyn Mike we need a table at Bob Evans. Give us the mafia table. This is like a white person's. This is a white folks eat. This is a white person's IHOP, Waffle House. It's like, yeah, it's a step above IHOP. Coincidentally, we parked right in front of our first hotel under the Marriott flag. That was it. We bought it, we fixed it, and then we sold it. We had it for a little while, and look at it. It's still standing strong, making somebody money. Remember how much you bought it and sold it for? Hell no. I'm sure we, I don't do deals like this unless you make a million bucks, so I'm sure we made a million to two million off of it. Ben Jr. found a deal in the area, so we're going to check it out. 384 units? Yes, sir. And over 200 a door? Yes, sir. You know what kind of deal that is? 60 million? More than that. 384 is almost 400. 400 at a 100 door, that's... You said you were looking for a $38 million deal. Listen, I could do it, but the point is it ain't going to make us no money. We're going to get, I don't want to get trapped. I think all these guys are getting trapped. Yes, I understand, but this is 2000 open market product. Let's look at it. Look where you're about to go into, dad. Look at the area. Look at that. Is this it? No, this is competition. That's condominium. Not competition. Move-in special, why? They're doing so ******* good. Why do they need a move-in special? This is 384 units, and that shit's hard to keep occupied. I can tell you that. You always have 20 to 40 vacancies. Oh, the gates are broken. Oh, look, look, look, look. It could be stucco repairs or painting. Maybe there's a hole in space 99. Original roofs, original parking lot. Look at the stucco problems. They're fixing it. Yeah, they're doing some work. Why did they put it on the market so quick without getting the work done first? Oh my God, four ******* maintenance guys working. 100 units? Yeah, 100, one per 100. No, you got more than that. Yeah, they're all ******* just sitting around doing nothing right now in their ******* storage room drinking beer. I like the place, but the price they're asking, now leaving us no room, we gotta put money into it. Can you imagine having to re-roof this whole place? Well, you know, I believe we're gonna see people coming down to reality. At $1,700, $1,800 a month, I just don't see how the hell you're gonna make more than a 5% or 6% return at best even. I don't even know if you can make that. At least we're looking at the market. We know the market. When the market moves, we'll know to jump in. On the way home, Vincent wanted to show us one of his big ideas. No, this is all nice and fixed up now. Yeah, nice and fixed up. Wait till you get to the back of it. Why? This is about to be all redeveloped. If you don't do it and we don't do it, someone's gonna come in and make this a hub of offices, medical offices, retail, a little bit of multifamily. This is enough space to do this. He's right. And this is the right area. He's right. And if you don't do it and we don't do it, then someone's gonna do it. And this is in our backyard. I think these kids just want a place to do donuts. What do you do with this giant existing building here? It doesn't look like it can be reconfigured into anything. That's a little bent. The windows, no nothing. Live, eat, play. And then everybody wants a new build. That's right. All the stores you talk about, you gotta demo this ************. No, we don't have to demo it. That steel is good. You bring cigarettes with you? How long is it gonna be open? You don't have any cigarettes either. Look at that, you're empty. Your last cigarette. You gave me your last cigarette. I really appreciate that. Oh, if we could pick this up, I don't know. It'd probably be at least 10 million. At least with this acreage. But look at it. Five? It doesn't matter, the land. Acreage is crazy. Over here on this side, I could build 100 to 200 units just over there. It's never had apartments, that's the problem. It needs apartments. It's all approved. The city wants you to do it. It's all mixed use. It only used to be a mall. It just used to be the mall where everyone came and hang out. The sprinkler system's still there. That's my saving money. Let me tell you something. If you wanted to do anything with this property, you gotta whack it. Because the new tenants are gonna want their own design and they want a new building. This whole building is not configured right. Whoever picks this up is gonna redo the whole thing. I don't know. You gotta have the tenants lined up so you know you got a guarantee of income coming in. You're gonna have to build from scratch. This shit is not word shit. This steel is good. For retail, it's good. There's nothing wrong with the steel. It's not the steel. It's the configuration, the layout. This is not a layout for what you want to do. The ceiling's too ******* low and they don't want a second floor. And if they want new, it depends on the tenant. If you cut a deal with- Retail down at the bottom. Apartments down at the top. Apartments on top of your retail. You can come out. Whack it. Well, there goes the budget. You want to learn how to make some money in real estate or you want to learn how to make more money with the real estate you got, baby? Then go to BenMal.com, consult with Ben, get me on the phone, or let's have a meeting and let's get you making some more money now. I don't know. I got to look up some stuff. You're about to ask me questions. If I wasn't driving and Rafal was driving, I would have all your answers ready, okay? If you would've done your homework, you'd know this shit. All right, let's go, let's go. If I'm not doing all this little stuff that other people could be doing- Before you take me out to see a property, you're supposed to know every goddamn thing. I don't know shit about this property. I'm gonna tell you right now. Why are we here? So you might as well get it all out. Why are we here? I had this property on my list of go back and look, as little Ben say, Vincent's to-do list, to-do. This property is a vacant ALF senior housing property that's already got plans and everything, and I think most of it has already been done. Okay, I understand all that, but what's going on with it right now? Is it an opportunity to buy it? Yes, it's for sale. How much they want? I need to, I don't know nothing about it, I'm telling you. Who's the broker? I haven't had time. Didn't I just say I don't know nothing about it? Send me the ad, send me something. You know, you called me last night, oh, we gotta go to the properties tomorrow. I don't have time to research this stuff before I get to you, because I'm focused on other stuff. But if I had a little bit more time, and we'll put down the camera, and drive or pick up garbage, then. Okay, so basically what it appears to be to me, it's totally 100% vacant. And yes, it's a beautiful building. But the big question is, are there kitchens in the units? And what's the configuration of the units? Because a lot of senior places just have bedrooms with a central dining facility. Now, it could be that these units had kitchens in them. 491 units, 695 beds, student housing conversion. Well, we need to see. Either we're gonna go with the student housing. It already went a $25 million renovation. It looks like it. All right, well, let's find out who's running the damn deal. Let's talk to them. Let's get all the information, and let's put it on a table and think about, is it a possibility? You could go back to working in a guard shack. I would love to do student property in Tampa. Give me the broker. Let me find out the skinny, because I cut through all the bullshit. I don't have a lot of time. And the brokers know that. It's a great looking building. I know the area very well. They're redeveloping the mall over here. The whole thing about looking at that old building, this is what's going on across the whole country, okay? Those malls aren't making it, even in the good neighborhoods, okay? Malls are dead. For some reason, they're dead, because people don't wanna go out shopping no more. They ain't got time for shopping. So the malls now have to be repurposed.