Building Wealth on an Hourly Wage: Budgeting, Tax Credits and Real Estate

start having family meetings every week out the lights don't come on by themselves let's walk

through the family budget what is the cost for us to live let's buy that that house in the hood da

hyphen hod buy it buy the worst house the best block buy it rehab it live in it build some equity

for two or three years take the equity buy another house in a working class neighborhood no mansions

no no no no flossing buy it rehab it and rent it you do that three times you'll be you'll

be a millionaire that was my mother's story that's Juanita Smith who worked an hourly job

at McDonald's aircraft and died with a million dollar net worth having bought and sold seven

homes a person listening to this with an hourly job can become a millionaire now somebody says

well John where's the capital coming from okay here's knowledge earning income tax credit you

are you earn thirty eight thousand dollars a year you're listening to this program you're a teacher

you have three children you just qualify for eitc if you've never filed for eitc you got to

check for almost twenty thousand dollars that twenty thousand dollars you then use it a down

payment on that house i just mentioned we're gonna get your credit score up at operation hope 54

points to 100 points we'll get your debt down thirty eight hundred dollars we'll get your

savings up through budgeting two thousand dollars you smoke and go to starbucks every week that's

six thousand dollars a year you making thirty six thousand dollars a year help me with the math

that's almost twenty percent of your income two ways to make money make more or spend less this is

this is a this is rapid i mean this is a different form yep a rap is just this is intelligent rap

this is the kind of rap that leaves you better okay