Will the Housing Market Crash? EP 7 01:07:08

From the art of the deal to keeping it real. Live from the Simply Vegas studios, it's The Power Move with John Gafford.

Back again, back again for another episode. Shockingly enough, we haven't been canceled yet. We're back again for another episode of The Power Move. With me, as always, is liquored up in the middle of the day, Colt Amidon. Cheers, guys. And, of course, Chris Connell Esquire. What you got to surprise for you? Hey!

Right on the board there is one. Nailed it. We got to talk about that first. Before we get into what we're going to talk about on the show today, obviously that's a crappy move. That's a crappy sound for the power move. It's just what we came up with as a joke. So I have a challenge to everybody listening to this. If you're listening to this or watching this, here's the challenge.

We want you to send me a wave file in the DMs on Instagram, whatever it may be. Send me a wave file of something that we should use for the power move noise. Chris recommended maybe like a heavy New York accent. Thick, thick, thick. Thick Bostonian. Or thick Bostonian New York. Ah, it's a power move kick. Whatever you think the power move noise should be, we're going to try them out until we find the one that sticks. Sick.

Send me it away. DM it to me. Record it on your phone, whatever you want it to do. We're going to try a new one every week until we find the one that works, I think is a good idea. But today, we're going to talk about a couple things. Number one, will the housing market crash? That seems to be the question I get more often than not. Social faux pas and how to get out of them and the value of education, i.e., should you go to college?

That's a good question. There it is. I have hard opinions on every one of them. Hard opinions on every one of those things. So I get it. So first of all, let's jump right in and talk about the housing market because everybody's got an opinion on this. Everybody talks about, oh, the market's going to crash. I know it's going to be over. And doing what we do, we get asked about that more often than not. I know residential, which is really my end of it, my specialty, has been through the roof for years now, since probably 2011 when it started to shoot up and the hedge funds started to buy.

to buy. And then the same thing's happened to commercial, right? Same thing. Commercial is always a shadow market, in my opinion. So you guys shot up in 11, we went about 13 and it's just been on fire. Been on fire lately. And Chris, even though a lot of people, for those of you who don't know this at home, even though he is an attorney, a practicing attorney, we don't know what his practice is, but he's a practicing attorney. He does also, he's a card carrying member of the

Las Vegas Realtors as well. So welcome to that. Welcome to the deep end, buddy. I know. Obviously, you hold your license for a different reason than we do, but still, you've got it. And so even you, from your loose perch...

I've seen the market go up to a place that it's overinflated. And it seems to be the number one thing you see with the prognosticators now, which is the market's going to crash, the market's going to crash. So much to the point, several weeks ago, I don't know if you saw it, I actually did a challenge on Instagram where I told any prognosticator that wants to bet me over the next two years that the market would crash, I bet him 10 grand. I said, look, you've got to sign a contract. And...

You got to put the money in escrow and I got no takers. But I think the first thing is what constitutes a market crash is the first question. And that's a very interesting question, right? We all have different definitions of what a crash is now.

it's such a weird topic to talk about Las Vegas, specifically our market. Yeah. Because we have these weird barriers to entry and we have these weird economic moats that a lot of other places won't. So I can't opine on what's going to happen to Manhattan pricing. People may get sick of it and keep flooding into Atlanta. But what we have, our advantage is being beside California. Obviously we have these prices and you're aware of it, you know, specifically as a, somebody that goes to California often and for your business. And, um,

where you have homes that are just absolute, just garbage, garbage homes going for three times what the average home goes for here. And so obviously the, the, the shift to Las Vegas makes a ton of sense for people that want the warm weather and the low taxes, all that politics, whatever your reason is. So,

I have a hard time kind of coming up with a general opinion on real estate in America. That's what people always want to do. A crash is coming, crash is coming. But you can't look at things like that, right? In every market, there's a bear market. There's every market, there's a bull market.

You just have to know where it is, how to find it, what makes it what it is. If you look at the... Where are the most increasing percentage premiums in the country? I think Stockton's third. Stockton's like the car theft capital of North America. I think Grand Theft Auto is actually baselessly on Stockton. Grand Theft Auto. Stockton is just called Grand Theft Auto. Stockton, Idaho, Boise, it's just on fire. It's never going to calm down. They're never going to satisfy the need. Because people are starting to shift...

paradigms about what is important to them, what's valuable. And, you know, people are starting to move to Montana. People are starting to move to places where we're kind of left,

you know, at the outskirts of thought for all. Untouched. Yeah. Well, I think, you know, if you look at the national market, let's talk about that first. And, and I'm willing to make the bet I was making was based on the Las Vegas market. And the first thing I did was I took a poll amongst my followers, listeners, whatever you'll call them through Instagram. And I said, what constitutes a market crash? And overwhelmingly it was North of 25%.

You know markets are gonna ebb and flow they're gonna go up and down market corrections here and there but a crash would be 25% or more a loss which is essentially, you know, we had what 50 60 percent, you know market crash back when it happened in 06 07 That's never gonna happen in Las Vegas again, but before I get to why let's talk about why it won't happen nationally now first of all, you

you have interest rates again today ticked down to 10th. So they're again hovering right at 3%. That is historically low interest rates. The Fed has already come out and said they have no intention necessarily of raising interest rates. Inflation is gobbling up pretty well right now. But with rates low, it's still a great idea to buy a house, even with the inflated prices of the homes.

It's still a great time. People forget back in the 80s, an interest rate on a single family house was- 15, 20%. Yeah, it was 18%. You got a new mortgage, Bob, what'd you get? You got 17.5%. It was insane. I mean, you weren't signing a mortgage. You literally were signing your own death warrant. And cars were still 25 grand. Yeah, you're going to die in that house is what you're doing. You might as well buy a coffin at that point. It was nuts.

So those low interest rates are going to continue to create demand, continue to create that demand that's going. Now, if markets depend on two things, which are supply and demand, I learned that in like 10th grade economics class. You didn't know that. Supply and demand work hand in hand. Wow. Is that how that works? Wow. They work hand in hand to do that. But I worked at, you know, I learned that and,

If you look at the supply chains that are coming out, the United States government just passed something not too long ago. If you didn't know about it, it's got a T in front of it. It's the infrastructure bill, and it's going to cost us how much? $1.

trillion dollars. You know what? That's the second time I've hit it now. I'm already over it. I'm already over it. Again, please send it in the waves. A trillion dollars. So the U.S. government has now just became the largest competitor to every single homebuilder

in America for two things, raw materials and labor. - And labor, yeah. - So every house you build is gonna be built at some point with concrete and with stick lumber. It has to be, right? They have to frame them up. I mean, I know they're doing 3D printing. Somebody's like, "Man, they're doing 3D printing now. "They're gonna do this." Okay, I get it, I know that. But most of them are still being built with some form of concrete and/or lumber.

The U.S. government is now going to start bidding that up. And oh yeah, by the way, it wasn't just the U.S. government that passed a giant infrastructure bill. China and Germany just did the same thing. All at the same time. So now all at the same time. So you have the global supply of raw materials going to get choked to death because the pricing is going to go through the roof because the government's not competing for it, number one. Number two, Chris, I know last week you said it was going to be the U.S. military was going to come home and redeploy into building bridges, which...

while a good idea to get them out of war zones and get that done, I don't think it's a very practical idea. Yeah, but that labor supply in general, I mean, there's this whole thing, this narrative right now about COVID and recovery, all these people sitting at home collecting checks, blah, blah, blah. But when people do kind of come online and these jobs are maybe higher paying or these jobs are more attractive to people that are looking for skills,

Or these kids coming out of high school who don't necessarily want to go to college right away. You know, we'll maybe see more participation in that kind of outdoor physical activity. Did you walk outside in Las Vegas last week? Did you bother to walk from any kind of structure to your automobile? Oh, yeah.

There's no amount of money you could pay me. I mean, dude, those guys that work on the roads and stuff, God bless, but I don't think you're going to see a lot of unemployed school teachers or whoever want to go work on the side of a street building a bridge. Yeah, no, no, not school teachers. It's so funny. As an aside, the older I get and the longer I live in Las Vegas, I actually think it was a cool summer, and I don't know what anybody's talking about. We're all dying out there. I was having my hot girl summer. I was living the dream. Oh, jeez.

It was absolutely a great show. This is coming from a guy from Regina. Saskatchewan. Yeah, Regina. But no, aside from that, no, but there's a lot of, you know, here's the thing about young men, okay? And I'm going to go specifically to young men. They are statistically and probabilistically more likely to go do dangerous jobs and be outside and suffer if there's more money involved. Crab show.

Crab show. The crab fishing show. Yeah. Look at the crab fishing show. Men die because they're morons, because they're willing to chase that extra buck. Yeah, but I don't think it's dangerous. I just think it's brutal. I mean, there's dangerous in the news. Yeah, but you have the option to go away. I guess the crab fishing, exactly. I don't walk in the park either, I guess. Think about it. Yeah, but would you rather go build bridges or lay asphalt in the middle of a Las Vegas summer or...

Be a preschool teacher, John. No, no, no, no, but here's my point. My point is this. Well, the preschool teacher, I think I'd rather go lay asphalt. Yeah, probably. Yeah, lay asphalt. But the point being is this. The first people that are going to go take those jobs are the guys that are currently doing tile for Toll Brothers. That's right. Currently framing for Pulte. Currently laying those foundations for KB. That's the first wave of people into those jobs because, quite frankly, the U.S. government is just going to pay so much, the homebuilders won't be able to afford to keep up.

which is going to raise their labor costs for the people that do stay through the roof, and that's going to get passed directly back off to the consumer. And then maybe we'll start hearing talks about immigration reform at that point. Well, possibly, but again, I think what you're going to see is you're going to see a lot less upstarts. You're going to see a lot less actual new homes being built because they're not going to have the materials. They're not going to have the labor. They're not going to have the ability to pull these things online. They're not going to. You think people are going to go vertical?

I don't think even vertical is going to be a challenge, more of a challenge, because now you're talking steel. Now you're talking major raw materials that are in demand for the infrastructure bill. I mean, building is going to be a real problem over the next several years. As long as they're burning through that trillion dollars, it's going to be a real challenge. So I think that in itself is going to hold supply down.

why you have demands still relatively high. Now a lot of people are like, well, the eviction moratorium is almost up and man, people are eviction scammers. It is up. I hate seeing that comment. It is up. That's true. Supreme Court. It's done. Yes. What say you, Counselor? Supreme Court just ruled. This is your department. You know, here's the thing. People can say what they want and moan about evictions. It's not fair to renters. And I go, look, life is not supposed to be fair. You don't run systems of government based on like

you know, we're not Robin hood as a culture, right? You know, that fair is a bad word in my, in my house. Fair is a weird word to me. It's a bad word in my house. Cause fair is a relative, right? Fair is relative. Yep. It's not fair to who? So you say, well, these renters should be able to continue on the, on the moratorium or whatever, but it's like, it's, it's been quite a while. I think there's a lot of, you know, people looking for jobs. I mean, it's not,

I'm not trying to get into the politics of that left-right, but the United States government, it's not within its purview to deprive people of their life, liberty, or pursuit of happiness or property without fair compensation. Now, you can't deprive...

you know, a landlord of their compensation. Right. It's not your, it's not what you can do. It's not your authority. It's like a police officer is not allowed to go teach fifth grade. Like it's, you have rules and you have outlines and parameters and you got to follow them. And the Supreme court got it right. That you can't just, you can't,

arbitrarily and unilaterally dictate there's an eviction moratorium because you're dispossessing people of their right to do what they want with their property. And that is not within the constitutional boundaries, in my opinion. I hated that excuse of everybody, well, it's going crash because of that. And it just, it's like, well, let's look at that. You may have a bit of supply, but there's so much money right now, Colt. There's so much money. There's so much money. It doesn't matter. No.

I could put a thousand homes online. There's going to be a thousand and 10 bids for them by hedge funds or people that need to get rid of their money. Well, let's talk about that. That's point. That brings us to point number two as to why the market will not crash. So we haven't rehearsed this by the way. We haven't. No, no, no. But when the, when the market, when the market first turned over, we're going to hear something like a boy band concert. That's basically tag John. No, exactly. No, uh,

Point number two is when the market turned for the better in 2010, 2011, some of us were there, me included. And I bought massive portfolios for the hedge funds. I worked for both Blackstone and for Goldman Sachs through their buying arm. It was called Frio Nevada here where they bought. We bought them literally hundreds and hundreds of homes as fast as we could buy them. Whatever's for sale. And all of those homes were bought cash.

Companies like Wedgwood still buying today, literally have never stopped buying, have just continued to buy, continue to buy, continue to buy. So much so the big hedge funds and obviously saw this, but Blackstone just did a deal with Pulte to buy 7,000 new homes directly from Pulte to immediately turn into rentals.

I mean, how are you competing with that? You can't, you can't, but again, again, this is why the market's going to crash. So let's just assume, let's assume that I'm Blackstone and I have literally more money than I know what to do with because they do. Sure. And I purchased all of these assets and let's just call it a town a whatever it may be because they own assets all over the country. They have markets. There's a hedge fund in just about every medium size to large market across the country. And they bought all these assets cash and they had them all. The

The market starts to dip. You're in full equity if you haven't recapitalized these deals to pay for the next ones, but you're in equity in a lot of these houses. The market starts to dip. Do you, last Colt. Colt, you run the hedge. Time to play. Who runs the hedge fund? Colt, you run it. So the market starts to dip. Do you A, just throw your hands up in the air and say, well, I guess all of these assets we are are going to go down in value, or do you B, start buying up everything you can get to protect your value?

It's just like any investment, right? Stock, same thing. When it goes down, you buy more. Absolutely. You offset it. Dollar cost average. Dollar cost average. And I think that a lot of people don't comprehend that. I mean, and it goes for just some random person, right? They lose...

equity in it what people don't realize is there's so much equity in homes nowadays yeah well me and you were doing this stuff with the the banks and stuff they bought at 106 percent debt you know they had a debt of 106 percent it dropped 20 percent in three months now they're underwater you know almost 30 percent they're not getting away they're walking away you could drop people 30 percent now and

the majority would still have a ton of equity. - That brings us to point number three, Colt. - Boy band. - Which was, if you look back at the last crash we had in 2006, whatever year it was, 2007,

What was going on in 2003 to 2005? No income, no job loans. The ninja loan. We'll never check where you work. We're not going to check on how much you make. We don't care. If you say you make $100,000, you probably do. How much do you have to put down in the house? Zero. We'll do an 80% loan with a 20% HELOC, close them simultaneously, and we'll actually roll into the deal 24 months of your HOA.

So you have no bills out of pocket for at least 30 months. You're going to be a millionaire, which is why every cocktail waitress in this town owned six houses. Are you concerned that those are coming back? No, I'm not. But there are products like that. I kind of had a moment where I go, oh. No, no, no. Well, I'm telling you that you haven't refined or gotten a loan lately because it's still, to get any type of a decent rate, it is a disaster. I mean, it's still the amount of, I tell everybody that buys a house with us, like, look, I don't care what your credit is. I don't care if it's eights.

50, whatever it is. The diligence is perfect. You need to expect to have to answer some questions that you weren't expecting to have to answer. You need to expect to provide some documentation that you have zero reasoning why they need it. Yeah, we did a refi and it was, and I, you know, it's going to be a layup in terms of,

like i thought i could just call yeah no no no no they're like yeah we just need a refi no and that's it like i think i do see some of these stated things come across but i think it's all hard money just right it's hard money i mean yeah yeah it's different like you said when i moved to vegas it was 2006 this is what happened i'm here with my buddy who owns a roofing construction we go and gamble the guy's like oh you're in real estate i own three homes

i go good for you you're talking about the dealer the dealer the dealer yeah of course so i don't know anything about vegas i'm like whatever so then i go maybe to a gentleman's club because i'm a gentleman and maybe and the girl's like what do you do and uh we're real estate oh i own four homes right it was like the big short so i was like are you just telling me that the sideline of the big short i

Wait, five times it took me to watch a big short because it was. Wait, is that a movie or your name at the gentleman's club? Wow. It works for that. I'm using it for that for sure. That worked out. That was perfect. But I did. I sat there and I'm like, what the hell? The big short took me five times because it made me sick to my stomach because that was the exact story. So I go to the guy, try and pull me in Vegas. I go, how much does the dealer make?

Okay. How much does a stripper make? 130. How do you have a million? Yeah, right. Variable. Yeah, it depends on the shift. There's a lot of things that go into it. But how does a 60...

thousand dollars per year guy have three homes the average home is 320 at that time yeah you got a million port i walked out there that night within 24 hours i go i don't know if i should move to vegas this is going to get ugly that's the exact words i told to somebody that those loans were crazy just crazy and now but to get a loan if you've gotten a loan in the last from 2010 to now

You've got to put, you got skin in the game. Everybody's buying houses right now, has skin in the game. They had to put some money in, they put it up, and they've now taken advantage of some of the equity coming up. You don't hear a lot about a lot of people now. Back in 0405, as soon as you got equity, what did you do? RV. Refile with HELOC, buy a boat.

Everybody was living out, everybody was living off equity. People are gun shy, man. They don't do that anymore. And we see, you know, through our mortgage company, our title company, our real estate company, we see a lot of deals close and you, you don't see a lot of encumbered weird liens with like,

a lot of HELOCs that were pulled against properties because people have equity. And you know what doesn't go to foreclosure, Colt? You know what doesn't go to foreclosure? HOA. Equity. Equity. Equity doesn't foreclose. And here's why. The reason it doesn't foreclose is because if you have equity in your house, if you have equity in your property...

and it's going to foreclosure the next day. You can guarantee yourself that somebody that paid $399 for a class called Real Estate Millions, I don't know if that's a real course, I'm just making it up, but there's 50 of them that are called this. Somebody's going to get that list and come knocking on your door. Hi, I'm here to help.

You is what they're going to say and you know, we'll make a cash offer You deed the house to me and we'll get away that equity is gonna get gobbled up by somebody smarter than the person willing to let it Go foreclosed, but the reality is that property is never gonna hit the open market No, it's not this somebody's gonna play an angle that that property is gonna in its equity is gonna get gobbled up before that Which brings me to something else

i think that i think if you don't haven't figured out if those reasons by themselves are good enough why the market's not going to crash i mean you can hit me up i'll give you 10 more why it won't happen well you know you brought up a good point too about the hedge funds now let's say for example the hedge funds wanted to sell where they want their money where they put their money where's it going to go you're going to trigger all these events the biggest the biggest problem the biggest point when i talk to rich people and i talk to a lot of them and i do

the biggest problem they all have is, well, what am I going to do with the money? That's what there's literally nothing. There's nothing to do with money. First off, plus the tax events. So you'd have to 1031 these portfolios if you could. I don't even know if you can, but imagine having 7,000 homes from Pulte sitting here, all renting, all cash for anyone. Well, there's, I mean, there's a reason that you can't find apartment buildings anymore. They're just, it's such a hard thing to find because 1031 into them to everybody, everybody with money is looking to buy them. Everybody. I get that call four times a week. Mm.

I got $5 million. I got $10 million. Good, good. Give it to everybody else, buddy. And opportunity zones are kind of in a weird place right now because some of those loopholes are going to close up. So they may come out with a new program like that, which may create new kind of incentives for giving. I'm a fan of opportunity zones. That's a different story. So it's really complex. I was sitting down with some kind of Wall Street guys the other day at a meeting talking about some stuff. And I'll keep it to myself where the money is kind of.

coming and going and what they're planning on doing. Let's just put it this way. In life, people with money are three steps ahead of people without. Oh, without question. Three steps. I don't mean two steps. I mean three, four, five steps. Like a lot. They're like, this fund is going to do this because when this happens, this will happen. No, they're literally writing the music that you're going to be dancing to. And it's not a joke. So if you have some money, just...

lean on some smarter people sometimes. Stop trying to be a hero and do everything yourself. There's a reason that some of these people exist and they're just on a different track than you. They're talking to different people at different opportunities. That's just my free advice for them. Well, I think we always talk about if you want to change, you know,

what's going on with you, change the room. Yeah, and I don't even mean like who are your buddies. I mean, because that would be cool if you were talking to nothing but a bunch of financial wizards. But I'm talking about the people at banks, like major Wall Street banks. You're talking about the people at Blackstone. Yeah. Okay, when you're talking about them, they open and close funds. Like you can't even buy them.

Yeah. Like you can't even get into their fund. They've already closed and they've already opened and closed that 7,000 one. I guarantee. Yeah. They won't take your money. We don't even want your money. Throw it in the garbage. We don't need it. We don't want it. So there there's, you know, that's, it's not a conspiracy. It's just, there's people that move money in a certain way. That's going to be a lot more efficient than you. So,

Try to understand that first and then try to limit your own sort of downside potential by kind of, you know... Trying to play with them. At least talk to a financial advisor. See what the word on the street is a lot of times. Well, you know, what I was going to talk about was...

I, and man, this is my biggest, this is my biggest problem with the industry that we're in. It's a huge problem because it's a huge moneymaker. It's a massive money. It's a massive moneymaker. A lot of my friends, this is a key part of their personal business. And I, it just,

it makes my stomach turn a little bit. Here's what it is. Chili's gift cards. Chili's gift cards. Again, if you don't have Chili's, I'm not done with you. I'm not done. And again, my goal with these comments is to make you have to Google what did Chili's do to John Gafford and make that trend. That's my goal. Beautiful. Yeah. I'll be here to remind you. But again, what it is, is wholesaling real estate. Now-

I think that if you are not a realtor, if you are not someone that carries that card and we, you know, we do it. Yeah. It's a little goofy. It's a little outdated. We have to take us a little oath to uphold the best interest of the public. We have to do that. I don't think you can be a realtor and wholesale a property. Now, for those of you at home that don't know what wholesaling is, what wholesaling is, is for example, in the, in the, in the example that we just gave before, when we were talking about the lady that was going to get, um, was going to get foreclosed on, um,

you would knock on her door and you'd say, hey, we'll get you a cash offer. You see all these signs. We'll get you a cash offer tonight. Cash offer, cash offer, cash offer. Cash offer for your house. Well, a lot of these people pick a $300 course.

and learn how to make bandit signs by writing on them, cash offer for your house on one day. They get one phone call and this is what they do. They come to your house and they say, we're going to give you a cash offer. Now, obviously that offer is way below market value. It can't be market value because it wouldn't make any sense. And the pitch is, well, you're not going to have any inconvenience. You're not going to have to use a realtor. You're not

And then what they do is they make you sign a contract. And this is the, if you are a property owner, if there's one phrase that I can get across through every podcast we do that you need to be aware, that phrase is and or assignees. Yep.

Because when you sign a contract to sell your house to whatever entity, whatever individual, whatever it is, and right behind it, it says and or assignee, you are pretty much guaranteeing yourself you are leaving money on the table that somebody's about to scrape. Because here's what happens.

They get your house in contract. Let's say they'll close in 10 days. Then they say, okay, so say your house is worth, call it $350,000. And a good wholesaler or somebody that's skilled in this particular art can go in and for whatever reason, because you're uneducated, desperate, in a tough spot, whatever you may be, will make you an offer well below market value, 25%, 30% below. And they'll say, we'll give you $250,000.

Right away, whatever it is. And I mean, I've heard of people getting free houses basically by the time this comes out. It's crazy. We're going to offer you this crazy low offer to get this done. And then they'll take your contract because there's an or sign in and they'll start calling people that actually flip and rehab houses. This is our actual business to improve the neighborhood and say, hey, I'll sell you one, two, three main street and I'm going to give it to you for two hundred and eighty thousand dollars.

Well, you agreed to sell it to them for 250. Now I'm selling it to the next person for 280. I never even close on your house and I make $30,000. Now who should be getting that $30,000? Homeowner. The homeowner. But here's the problem.

You're stupid. I mean, I'm sorry. You don't understand what they're doing. And you think you're better word, much better word. You think you don't know. Right. But see, I don't like using ignorance as an excuse for doing stupid things. I think, I think it's lazy. I think, I think if you get caught up in a sales pitch or there's no situation that's desperate, cause here's the, here's the reality of it. All right. If you were to list that house,

for seven days under market, the same guy that winds up buying as a flipper. Same guy would have bought from you. It's going to buy it anyway. And even if you're paying a realtor $7, $8, $9 grand to list it.

You're still better off than giving the guy that did nothing 30 grand. And if it goes to market, it isn't going to a flipper. And we just talked about it. We just, we talked, there are no houses for sale. Even if you do Fizbo, look, I'm a real turn. I'm telling you, you're better off doing Fizbo. So, so why don't you hear agents?

Kind of making that their thing, like educating their clients or whatever. You know what? I'm not doing it. No, and I'm going to tell you why. Because that process of wholesaling properties is rampant in the realtor community. Yep. There are a lot of realtors doing that. They'll walk in, oh, I'll give you a cash offer, and then they're flipping it to people that actually do the flipping. Jeez, that sounds like a real...

really big conflict. And this is exactly why, dude, it is a well-known fact. If I catch you wholesaling at simply Vegas, I'm gonna fire you that day. You, you cannot work for me and do this. And here's why, because at some point, grandma, they got taken advantage of is going to realize and be like, Oh my gosh, I got, I got Chris on the law. And if you're carrying a real estate license, they're going to go to the division about it. Cause you swindled them and they're going to sue the broker. Cause remember, uh,

For those of you who don't know this at home, if you're not in the real estate industry, real estate agents carry no liability. They have no liability. Every single thing that, like we have 500 agents that work for our brokerage. Every single thing that all of them do lands on me. It's my fault. It's my responsibility. I got to deal with it. So that's a big, I don't know why they don't make a bigger issue. And it's just, it's so funny because our local boards that should be educating consumers about this, there should be commercials online

I mean, who's paying for that? Informing the public about it. We pay for it. Well, informing the public that this is bad and you need to call a realtor and get some decent advice. Yeah, because that's a simple sell. If you see a guy with a fucking Sharpie on a piece of paper on the corner of the street. Isn't that crazy, though? You get off the freeway and there is a dollar green poster board. Sell your house cash and people say,

Like you said, I don't even know if it is ignorance or just... I'll say this. So if you look at where... If you can statistically look at where the majority of these deals happen...

They happen in parts of cities where there's not a lot of English as their primary language. There are places where people can easily be taken advantage of. I completely agree with you. It's usurious. And I can tell you that with my clients, because the majority of my business is real estate and car accidents. And it's because there's insurance companies on the other side of car accidents, and I negotiate with them for people because people will be taken advantage of by insurance companies. The other side of it is real estate deals. And I will tell you this.

There's a reason there's a check cashing place on the corners of the lower income neighborhoods. A lot of lower income people don't bank. You know what's really surprising, and this is where you kind of, it's good to talk to different sort of people in different strata, is that

a lot of my clients don't have banks. They literally don't have banks. So if I give them a big check, I saw that's not where to cash it. They don't want to cash it. And there are companies like chime that will do the online banking. They won't accept the check from Connell off for $50,000 for their client. And so they have to go to a check cashing place.

And those people take a huge chunk out of it. And it's just another system of being on that treadmill, right? That treadmill of poverty where someone else is taking your money because you don't know any better. And it's targeted because there's not a rich person on earth that is just going to walk into a meeting with a guy who says, sell your house cash, shows up with a contract. Then let's make that our goal. Everybody you need to know, everybody you meet, bring that up at your next party. Bring them next time you meet your friends. Talk to them. Do you know what it means when somebody puts and or sign e?

on a real estate contract. Except for commercial. Except for commercial because those are entities. We do it all the time. We do it all the time in commercial. If somebody makes you a cash offer and they put an address on it, you can guarantee you're about to get screwed. We'll be back in just a minute where we're going to talk about is Colt's daughter a serial killer? And also social faux pas and how to get at them because, man, I got to tell you, I royally screwed up this week. It was brutal. I'll tell you in a minute. Hey, it's John Gafford. If you want to catch up more and see what we're doing, you can always go to thejohngafford.com.

We'll share any links that we've things we talked about on the show, as well as links to the YouTube where you can watch us live. And if you want to catch up with me on Instagram, you can always follow me at the John Gafford. I'm here. Give me a shout. We are back again for part two of today's Power Move.

As always, Cole Tomadon, we talked about why the housing market won't crash, talked about how to avoid getting taken advantage of. Buy people that want a wholesale property, which I think is probably the more important of those two things. But you know what?

Colt mentioned something to me before we got started today, which is where he said he was worried that his daughter might be a serial killer. Oh, my gosh, dude. My daughter. Am I the only one without a serial killer? No, my two-year-old. Oh. Oh, really? Oh, yeah, yeah. See it already in her eyes? Well, it's just her absolute lack of regard for other people's comfort and safety.

Well, I'm pretty sure that's all two-year-olds. Maybe not a serial killer. Maybe more like a mass murderer. Well, you know what happened to me? So my daughter ended a year school thing last year, and teachers giving all these nice talks about, oh, you know, this kid, this is the most memorable thing. And the teacher gets up and goes, yeah, I think his mother or mother-in-law died. And

Mia just laughed at me the whole time I was telling this story. She's laughing at the teacher that he's over here saying, oh, I had to take off because my mom died. And I'm like, all right, you're a little messed up. Okay, we'll see what happens. So then fast forward, we're driving home yesterday. And she's like, oh, I go, what did you learn from school?

Well, how to kill somebody. If you stab them in the front of the thigh, they'll die. They'll bleed out real quick and get cold and die. So if you ever want to kill somebody, go in the front of the thigh, not in the side. How do you learn that at school? I mean, I actually don't think that's accurate. I think that's a, I hope it's called the golden hour. Colt, you have a arterial break in your thigh, but like my kids sometimes scare me with that stuff. And,

And she is so quiet. I don't know. Okay. Here's the question though. Is it that they just might want to kill you or they might want to kill others? Cause I mean, if, if it is your, it is your wife's daughter and, uh, I've, I've seen the bloodlust in the wife's side for you. Sometimes I've seen this homicide. Yeah. Yeah. I would not be shocked. Yeah. She's going to be my wife. She'll be my wife and my wife. I would not be shocked to have murdered somebody because of what they said.

And it might be me. It might be me. She can call 702 Connell. If she ever does murder, Cole. 702 Connell. For all your murdering husband needs. We found out what he actually does. Yeah, with the chancla. But I don't know. Do your kids do anything crazy that you're like, what the F are you thinking? They're just. Do kids do anything that I'm like, what the F are you thinking? Yeah. Daily. Like scary things. Daily. Yeah. I walked into my 13-year-old the other day.

talking to this wholesaler about selling my house cash which had a 30 discount terrifying terrifying are you are you crazy see i walked those scary things i walked into my son's room and he was actually on the phone with your daughter trying to buy her house had a 30 discount i mean where's that part of me was a little proud yeah no my my kids doesn't have a license again if you don't have a license you don't do whatever you want i get it yeah if you have a license i don't think you can but uh

if you're talking god the chai tea is just i went chai tea instead of coffee i'm gonna go chai it tastes like christmas oh chai tea i'm instantly transported to like a a winter a winter wonder always yoga yeah it's 108 degrees outside i'm already talking about your sign i know but uh let's see so big very social faux pas so much social faux pas

So here's my story. Last week, well, a couple of weeks ago, I was on a flight back from somewhere and Guns N' Roses tickets were going to go on sale as I was going to be on the plane. So I call my assistant and I say, do me a favor, buy me the best four Guns N' Roses tickets they have, right? I'm just thinking just the seats. I get off the plane.

credit card did you just spend $3,600 on Guns N' Roses tickets and I'm like well holy shit apparently I just did so I call her up and she goes well no you told me the best ones this is best seats and I'm like how in the world are these concert tickets I mean yes it's Vegas concerts are more expensive than anywhere else but how in the world is this $3,600

So I start looking it up and it's like, oh no, there's a whole, you know, you get an early, it's a VIP experience. You get, you know, open bar, you get food, you get a laminate, you get to walk a red carpet. There's a merch package. There's all stuff. She did what you told her. Yeah, she did exactly. And I can't be mad. That's why she's my right hand person. Exactly. She did exactly what I told her to do. So we're cruising along and I'm like, all right.

It gets a little closer and I start getting iffy on even wanting to go to this thing. I mean, I've already heard a couple of concerts of, you know, going down to Allegiant Stadium. The sounds a little bad. It's kind of a pain in the ass to get in and out. I'm like, I don't know if I'm going to do this or not. And we own a house in Newport Beach and the house came up a week ago this weekend. So I was like, you know what? I'd rather go to the house because we went with some partners. I was like, I'd rather go to Newport and hang out at the beach and surf and goof around and just decompress than go deal with this concert.

So I had one of my guys on my team had just closed like an $8.6 million deal. It was a massive deal. So that was a no brainer. I'm like, you get to go to Guns N' Roses. Here's two of these super VIP tickets, right? I'm not doing it. But here's your VIP tickets for that. And that's why I had two left. So then I'm like, okay. So I'm like, I'll just give them away to somebody else, one of my clients or somebody. And I go to start trying to mess with Ticketmaster to give them away. And I realized I can't transfer them. So I'm like, oh God, I can't transfer them. So-

I'm like, what am I going to, I got to figure this out. And then as I'm going along, because of the VIP stuff, you actually have to pick them up from will call. So I'm trying to go to the beach, but yet I physically have to go with my ID and credit card that I purchased them with to will call to pick them up the day of the show. I'm like, this is a disaster. So now I'm like telling my wife, maybe I'll stay. You guys go. And then I'll just go to the show and then fly down to Orange County and you can come pick me up. Whatever.

And anyway, so I get an email about checking in and I noticed it says Courtney on it. It has her name, my assistant, who bought the tickets. And I go in the other office and I go, hey, did you buy these in my name or in your name? She goes, well, I bought them in my name and I've used my credit card. You reimbursed me. I'm like, oh, thank you, Jesus. I'm like, you get to go down to Will Call and pick these tickets up. And I said, but the good news is me, super cool boss. She'd been kicking ass lately. I'm like, take your dude. You guys have a great time, right? Go to VIP.

So she goes to VIP. She goes, we go to the beach and have a great time. Fast forward to Monday. I come back, walk in. How was the show? She's like, it was amazing. It was great. I said, cool. You know, your guy Rico had a good time. Great time. Everything was cool, blah, blah, blah. And then she goes, Oh, I have something for you. I said, okay, cool. So she goes out and she comes in with the merch stuff that she got. I see the lanyard. I see the poster. I see the little bag. And she's like here and goes to hand me the concert t-shirt. And

I was like no no no no don't like I gave it I gave anything to you I said just take just take take it it's for you give it to Rico I don't I gave you guys the tickets everything you know it's yours good she's like no no no this this is for you and I go no I said Courtney it's a t-shirt I'm gonna throw it in a drawer I'm never gonna wear it I'm gonna throw it away in two years I don't give a shit about that keep it she walks out of the room my wife immediately calls me she's like Courtney bought you that t-shirt

I was like, what? I'm going to defend you again here, John. I got to defend you again here. Chris is the best person I have on. No, it's like these Larry David moments. 702 Connell. They're not that, because here's the thing. Remember that guy you couldn't recognize because he was in sunglasses and out of position totally, and you called him up later being like, hey, how are you? I saw that you were here. You cared enough about him to do that. Yeah.

And this person trying to give you the t-shirt of a, of a merch bag thing that came, you're obviously, no, you're obviously primed to think that that's the map that came with the program. I did. So you're already primed to think that that's what you gave her and her trying to give it to you is kind of like, no, no, no. I want you to have the whole thing. Yes. I don't want a part of the thing. I want you to have the whole thing. Right.

So those aren't those are very good moments in Because here I am essentially saying why don't give me the gift cuz you can't do shit. She said to you No, John, I bought you a gift and I wanted you to have a situation. Oh She told you it was a gift. No, but I'm a meat, but I'm immediately backpedaling like no, I love it. I wear it all the time Yeah, but there's a difference between what what what what's the value of a gift? I

It's not the thing itself in 99%. That's what I said. It's a thought that counts. And the thought was lovely. That's what I thought is that's great. She got it for you. If she gave you that t-shirt, you're not going to throw it away. Right. Cause it's a gift. No, I'm still throwing it away. But okay. I mean, maybe two years from now, but maybe, maybe Hayden, maybe the kids want it because it's cool to wear like retro shit. Right. So it's different though. Like as a gift, it's something that's more meaningful and you will think twice about throwing it away. No, but whenever you get t-shirts though, you,

You have a drawer at your house full of t-shirts. They're all black. No, no, no, no, no. Not that one. That's the wearable drawer. Those are my workout shirts. The unwearable drawer that contains things like, and there's certain things, again, you consider a gift. I have the Golden Girls t-shirt my son gave me because he thought it was funny for Father's Day when he was like eight.

Can't throw it away. Still got it. You know, the Chewbacca t-shirt that my daughter bought me for Christmas one year. That's right. Haven't rocked the Chewbacca t-shirt, but I'm never going to throw it away. That's right. Sorry, when she goes to college, I'll throw it away. But those are... When they're out of the house, I'm good. It's almost incumbent upon you to be like, oh, you know, I thought you'd enjoy this, so I bought this for you. You know, you can't just... Because when you've already been mentally primed for something, right, you're already in a thought that that's the thing I bought myself already, and I don't want it because I want you to go and have the whole experience.

So that was the point. I was like, I like how you're hard on yourself for your own Larry David moments. And they turn out to be like completely normal to me. Makes me think maybe telling somebody that the gift you give me, no, I'm just going to fucking throw it away. But if they said, this is the gift I purchased at the concert for you. No, I never would have said that. Well,

Well, depending on the t-shirt. Depending on the band. It's all about how you present. Two-way street, bro. You give me a Backstreet Boys t-shirt, I'm telling you it sucks. I'm throwing it out. What's wrong with the Backstreet Boys? Probably worth a retro party. It might be worth a retro party. Keep it 90s. Now everybody has the 80s party now. We have an 80s party. Oh, which brings... So for those of you watching and don't know this, Chris Connell, Esquire, man of many talents, many faces, also front cover band...

Backacre, of which we always have to go because now we have to go. I feel like we're pot committed because the first time we played, he played some bar in Chinatown and it was like 10 of us there. Boomers, it's closed now. It's closed now. Shocking. I remember the first time was at Boomers. It's closed. Next time was at Jing. No, Chinatown. Chinatown was Jing. Where the guy gave you an extra 50 bucks for bringing a good crowd. So he doubled your pay from 50 to 100, I think. I remember what it was. Yeah, it was...

But, yeah, we played these joints. These joints. The loudest cheering section possible. Yeah, it's great. And it's a diverse crowd. You can tell who's with you. You can tell. Everybody's in all black, goth, and then we roll in. One guy had a flower shirt on. I had white pants, a lot of pastels. Yeah, you can definitely tell who's with you. Which pants are for what.

Oh, man. That was a good time, though. Well, it brings me to my point, though. We're going to have a merch table at the next show. I think so, for sure. Look, if you have nothing else in your office to guarantee hilarity, you need iron-on merch.

things. You can buy them at Staples. I literally, in our storage room right now, we have a grip of white t-shirts and the iron-ons because when the moment strikes me funny, I can jump on Photoshop and make a t-shirt of someone, i.e. Colt. We found out that his wife's real name was Martha. Yeah, here you go. Sorry. You are going to get killed. This may be the last. It might be Power Move with Colt and only Colt.

Next week, because I'm not speaking on this. She will kill you. Okay, then we'll let that out. Not really. We're not going to let that out. Here we go. Anyway. Go ahead. Her name is Mirtha. Mirtha is her real name. It's a beautiful name. It's a beautiful name, but she doesn't like it. So I instantly... Because you know why she don't like it? Us Americans...

Murta? Her name Murta? Yes. So she's adjusting to our ignorance. Yes. No, she needs to double down on that. But as soon as I found out that she did not like this name, I made a t-shirt of Colt's face that just said sexy Murta fucker.

Which I thought was appropriate. Amazing. I thought it was amazing. Shockingly, she did laugh at it. She did not threaten to kill John. So I think we're okay with it. But here's my mission. Back to Black Acre, your cover band. Black Acre is... Black Acre. Black Acre is, just so you understand, Black Acre is the generic name for literally any real estate in law. Okay. So it's like, John sells Black Acre to Colt for a million dollars. There's an easement on it. It's always Black Acre.

If there's five parcels, they become Black Acre, White Acre, Green Acre, et cetera. But it's always Black Acre. It's always the first acre. It's always Black Acre. Black Acre is the property in all of law schools across America. So what better for a generic lawyer than like the most literally the generic real estate lawyer playing in a cover band? Why wouldn't it be Black Acre, right? You got Black Rebel Motorcycle Club. You got Black Crows. But here's the point. Black Keys. But here's the point. Here's the point.

I'm going to break up the band through the use of a t-shirt or something. I'm going to do it. We're going straight up almost famous where we're going to make the t-shirt where everybody else is a little fuzzy on it. And you're like out front, super focused. Like, yeah. And we're going to set up a merch table and just, and I think, I think clarity shall ensue. That's so funny because you know, the guys that I play with,

a lot of times have such limited egos. I think they'd be like, yeah, please, please blank me out. Can I say you sounded better than Guns N' Roses? Just so you know. I mean, I'd like to think so. You guys did, honestly. I've done a lot less heroin than pretty much anyone. Yeah, we can actually hear you anyway. The first band that was up there,

was earth shattering loud. Oh my God. My head hurt for, I went from that, that night, got home about one in the morning and went to Motley. No guns and roses. Next time. My head hurt so bad from that first band. It was, it was terrible. Oh, we had to put, uh, what did we put in our ears? I can't remember. Put,

Put napkins. God only knows what you put in your ears, Colt. God only knows it was napkins for the rest of us. Just for the kids out there who may be listening, wear ear protection because you literally got one shot at hearing. You don't grow your, the fuzz back. Won't regrow. Yeah, they don't regrow. If you knock them off, you kill your hearing. That's it for life. Yeah. Wear your earphones, kids. Wear earphones. See, we're teaching lessons as we do. You know what? I know another lesson we should talk about. This is a family program. I know another lesson we should talk about, which is this.

for me, what makes a great business? And again, what makes a bad business is how you deal with problems that arise, uh, for customers. And like today we had a situation, I won't get exactly what it was, but one of our partners, we screwed up today. We screwed up, um, with a very large partner that we have in another state, a Southern state. And, um,

One of our people made a mistake and jeopardized a potential. You're talking about a deal that's worth probably 15 to $20 million a year, recurring revenue. And that deal almost got evaporated this morning. And that was the call I woke up to today is this is what's going on. They're meeting at like one o'clock Eastern to decide if they're still moving forward with us.

We're 30 days away from getting this open, and we've been working on it for seven months. And it was like, okay. So I talked to my partner very quickly, and I said, here's what I would like you to do. Do this for me.

I said, I want you to call them and tell them that we want to get on a plane first thing in the morning and fly out there and personally apologize. Whichever way this goes on the decision, we personally want to sit down with them and say we're sorry. Even though it wasn't us, you know, that physically did what happened, we wanted to go through and personally make that up to them. I said, before they go into that meeting, they need to know we want to do that. Yes. And...

And my partner, who's English, was kind of like, well, I don't get it. I'm like, trust me, they're Southern. That's going to go a long way. And we need to mean that because we need to go out there and, you know, obviously the person that screwed up got fired, you know, this afternoon with us. And we were going to fly out. And thank God the deal worked out. And I think a big part of why it worked out, it's fine now. Thank goodness everything's moving along. We don't have to fly out there tomorrow. Everything's kind of recovered nicely. But, you know,

The point being is- Hold on, did it recover after you said you'd fly down? Yes. Do you think that that had something to do with it? Huge. Yeah. Absolutely, because I think it showed that we were, you know, look, anybody will take a lump over Zoom or over a call, but if you're willing to get on a plane and fly there and get it done, I mean, I think it's Jesse Itzler, who's incredible if you don't know who he is. Atlanta Hawk owner. Yeah, Atlanta Hawk owner. And Jesse's amazing. He's had basically two jobs in his life, which was white rapper and then owned Marquee Jets.

He talks about one of the pivotal moments. Actually, that's not true. It wasn't Jesse Esser. I'm going to digress. It was... His wife owns Spanx. No, no, no, no. His wife owns Spanx. It wasn't Jesse Esser. I'm sorry. I just remembered who this was as I was going along. It was a major lender. It might be the guy that owns Home Depot. Maybe he said this story. But when all of the... He said when all of the...

When all of the big warehouse lines were evaporating in 2005, 2006, and they were losing everything, and they had nowhere to put loans, and all of these lenders were imploding, he said he talked to his largest warehouse line, which is imperative to be open if you want to be a lender. You have to have this. And he talked to them, and they said, look, we're shutting everybody down. We're only keeping like three. That's it.

And he goes, that was the only glimmer of hope I had. Everybody else just told me we were done. We were done. We were done. We're shutting them all down. He goes, but they told me they were keeping three. So he goes, the guy I see, he said, when are you going to make the decision? He goes, well, we've pretty much already made the decision, you know, but yeah, you're, you need to plan on being out. It's fine. But he goes, well, I just really would love to talk to you about it tomorrow morning. If I can, let me kind of call you back tomorrow morning. He's like, it's not really going to help you, but you can, you know, yeah. If you want to call me in the morning, call me in the morning.

He's in New York. It's now like 8 o'clock. He calls the guy the next morning at 9 a.m. L.A. time and says, hey, can we talk about this? The guy says, yeah, like I told you, we already made the decision. It's done. He goes, well, I'm actually in your lobby. Can we talk about it?

And the fact that he was willing to get on a plane and go to that client, get that done, allowed them to keep that business. I wish I could remember exactly who this was. It's kind of a shame that you can't look this story up because there's more to it. But the fact that he was willing to do that and go that extra mile for his people, you know, it's not something Chili's would do.

Chili's wouldn't do that. Again, you don't know what Chili's has done to me. Google what did Chili's do to John Gaffer. Or just watch old episodes. Or just watch old episodes. If I'm not done with you Chili's, I'm done. We talked about that before, the Secrets of Great Rainmakers by Jeffrey Fox. Yes. And he has that one story of the buttons that made them, you know, 100 grand or whatever, $100,000 buttons. That guy that came in and he needed a button repaired and he goes, well, I can't do that or whatever, but here, I just went and fixed these buttons and added some like nicer new ones.

Free of charge. They said it just so happened it was an affluent family. They now ship their stuff to that guy, and they've bought clothes and custom suits and whatever for the rest of time off this guy for repairing a free button.

Cause he's willing, you know, he's willing to go just above and beyond. It's just that, what are your touches? What, what makes you somebody that makes me feel like you give a shit. And I think when you say, I mean, they get on a plane, you know, I'm not a number to you. Like you give a shit. You, you were worried about losing my, you know, whatever relationship. No, I mean, a hundred percent. What's your, so talking about that over and above thing, what's your, what's your number one go-to thing that you just love? What is it?

That I just love that. Yeah. One of the things that you're, that you do that sets you apart from other people that, that is the difference maker in your relationships with other people. You know, I think everybody in my line of work and as a lawyer and people closing deals, um,

I'll show you I care because I answer your phone call and your text immediately. Yeah. I think that's the number one thing that people really notice for my business is that I will answer your call. I will text you back and I give a shit. And if something goes wrong, I'll make it good and I will use my personal resources and connections to try to actually get you to where you need to be personally. And a lot of times all people want to hear is that you're listening. Like I have a client right now.

I'm in a very difficult situation because it's crossed over from just a real estate transaction to a person who's very hurt about why this transaction needs to come about, as opaque as that description is. And so my client is upset more that the relationship that she's in is being affected right now, and that leads to the real estate deal issue. Yep. Selling real estate when a relationship ends.

And so a lot of times, you know, I don't know. So sometimes I'll just ask her, hey, what do you, you know, leave the law aside, leave the billing aside. I'm not going to bill you for this conversation. What, you know, what do you want? What are you trying to get out of this? Why would, you know, just talk about feelings sometimes. It sounds kind of lame. It's not my job necessarily to play counselor, but it happens and it does. And I take it seriously. And I try to give advice like my sister. Well, the reason I brought it up,

I saw something yesterday and it's, it was good timing cause I just started doing this again. Um,

was I saw a tweet or a meme or a post or whatever it said. And it said, hey, after 35, nothing good ever comes in the mail but bills. So somebody wrote on a thing. And it was like, amen, amen, amen, whatever. And it's good because I just started doing this. I spent 200 bucks. There was this really great website that made these really cool custom cards. So I got these cool custom cards with big gaffer embossed on it. It's like leopard coming out of the sides embossed. It really looks like a Gucci thank you card. It looks like, but it's big.

And I just decided that every week I'm going to start sending at least one of these cards out to somebody that does something kind to me or shows me an overabundance of, of, of just this relationship. And I sent the first couple out last week and

And the people that got them called me up and they were like, dude, thank you so much for this card. They were so appreciative because again, you're taking something that people had that perception of nothing good ever comes in the mail and you're going that extra mile for that. And you're saying thank you. And you're just trying to spread something positive in a medium that normally is full of negative. Yeah. It's double edged. It's double edged because not only are you getting something in the mail that's not a bill, so you're relieved. Yeah. It's actually something nice. So it actually has a double impact. Now I have a couple of people that send me

those kind of like monthly letters and the people that are keeping in touch.

kind of get to a point where I'm like, I just feel like I'm on a mailing list. Yeah. It can lose it. It can lose it. No, no, this is handwritten. I handwrite these. This is not a handwritten font. No, it is. This is not anything else. They're very personalized as to exactly what it was. For example, there's a restaurant here in town called Bella Vita. The guy that's a restaurateur there is a really good restaurateur. And every time I go in there, the dude literally fawns on me like I'm the president of the United States.

I we were in there with uh, my daughter's best friend's parents maybe a week and a half ago and it was funny He he was it wasn't there but you know just in the course of conversation I looked around and and gets like what are you looking for? I was like I was looking to see if sergio was here and she's like He's not here and they're like who's sergio and I was like, I guess so I told the story I said look I said, I don't know why I did nothing to deserve this I'm, like I have nothing deserve the treatment that I get from this dude but whenever I come in here and he sees me it's like

The C's part, and who knows? He may do this for everybody. I have no idea. But it's like a production that he's angry that I'm in the restaurant and he didn't know about it. Like he scolds the GM that, why didn't you tell me they were here and blah, blah, blah. And when I walk in, if there's 50 people waiting, no, no, no, no, no. Not for me right to the front. I don't know what I did here, but I'll take it.

Right. But I sent him a card. So we're telling the story to my, to my, my daughter's best friend's parents. And towards the end of it, we get up to leave and there he is.

And exactly what I had laid out to them was going to happen happens like angry. Didn't know it's like, are these your friends gives them a $50 gift card. I mean, just over the top, super hospitable. So I sent him a card. It was just basically saying, Hey, you know what? I don't deserve the amount of hospitality you show me. It's never expected. And it's always greatly appreciated. And thank you so much.

and it's stuff like that man i think i think recognition right i think people are rick recognizing this stuff people want you know recognition and genuine connection that's primal well people are just i think people are nowadays with the internet are so programmed to want to bitch about everything and not show recognition or catch people doing stuff right which brings us to something colt want to talk about today i love i get i get colt's

fun fun topic ideas for what we should talk about we're not gonna talk about today because I promise I'm talking about some other ones but this is what I get today you ready here we go my ideas for the show that I drop on today are like taking and sending cash offers for your house pros and cons you know the value of college which we didn't get to today we'll get to next time um and then Colt gives me horse medication for COVID

Is Colts daughter a serial killer? Gym habits that are annoying. I jogged a mile and I'm convinced that I could definitely be in the Olympics for speed walking. No,

No. No, I am absolutely going to be in the Olympics still. I don't know if you guys are not convinced. Like I ran, I jogged. That's all speed walking is. Yeah. And I jogged. You can't lift your feet off the ground. I know. It's all technique. I'm telling you today. After I was like, I wonder if I really could be in the Olympics. I cannot wait for you to keep pursuing this dream because I feel like it's building momentum. If anybody listens to this, anybody listens to this or sees this on YouTube, if you know anybody that is an actual competitive speed walker, can you please refer them to

So we can set up a track meet for money. Can we get a dead pool kind of going on cold? How long is he going to last? Oh, come on. You guys have no faith. Look at this. I have no faith in your ability to speed walk. No faith whatsoever. If you're just listening to this, I am chiseled in amazing shape. I don't drink. No, but you did want to talk about the next door happen and all of the mayhem that the next door happened. The next door app has gone from a convenient place to connect with your neighbors to literally just a...

whirlwind of disaster. You love your day. You guys, you guys live. Oh, you live in the wrong neighborhoods. You guys live in nice, fancy neighborhoods. I live in the hood. You know what I woke up to on my email? You know how it gives you a little clip of what happened. So you get on there. And how do I not get on this after this one? The subject line is naked guy in my backyard with scissors. Like, how am I not going to get on? And look, he wasn't running. Was he? Well,

Hopefully not. Next door neighbors again. Can't do that. No, but the next door neighbor app, if you live in the hood, is way better than Twitter or Facebook. Yeah, I believe your next door neighbor's app is OnlyFans. OnlyFans. I believe that's your next door neighbor. He's out. He's out. He made a lot of money, but he's out. You can tell...

people just what they'll get on there and talk about. Well, this is what I find. I find it's blazing criticism of some business or some person. Sure. Sure. And it always goes political from that political from that. And then there's, then there's my other one that I look at. No, there's, I don't mind the lost pets. I'm just telling you that's what I see. It just proliferated. This is the one that there's a one that this is the one that I just shake my head every time. Suspicious person seen in our neighborhood.

That's number three. It's always, it's always like middle aged Karen haircut, young man walking around neighborhood. Keep an eye out. It's like, see your guys tell me it's where you live. Mine's gunshots. I think anybody else here, gunshots, a naked guy. I swear the naked guy comes across all the time. It's not the same one. Uh,

And then you always get the care of a golf course. Hey, is someone pissing on your wall like they are off the golfers, you know, pissing on the walls? But no, my next door neighbor app is phenomenal. So let me tell you a story, Cole. Who was it? Was it the BTK killer or John Wayne Gacy when they were looking for people? Those are always sometimes the first people to volunteer. The guys who actually give you the crime. Yeah, yeah, yeah.

you keep mentioning this naked guy a lot. Naked guys. Now he's quote unquote moved away. Oh no, look out. He moved away. Don't test the DNA of the stuff he leaves. Yeah. His victims. No, no. I did touch that when I was looking for him. Yeah. I got a volunteer to find the naked guy right around with scissors. I feel like we should talk about it. Cause we did promise it at the top of a series of episode one or two.

Part A of this episode, I should say, which is going to college. Worth the money. What is it? Okay, let's start with Colt. Overrated what? Why is going to college overrated? Because it's great if you're someone like Chris, right? Or somebody that's going to- What do you mean someone like Chris? Someone like if you're Canadian. You can't say that. You can't say that on the air. If you were born in Regina, no. But if you're going to be a doctor, if you're going to be a scientist, if you're going to be a law student,

But other than that, a law, the law, you're going to be with a lawyer. But if you're going to go into law, did I say the law? The law. Anyways, no, I think that trade schools are a way better option for 80% of the people out there. And I think that you're going to see that. I think that in 20 years, it will be very – not even that, maybe in 10 years, it will be evenly –

as, you know, the standard. Yeah, I have a problem with people that don't regard trade as being whatever. You know, there was this sort of stigma about trade. You know, you didn't want your kid to go be a plumber. You wanted to go to school. And for a lot of kids, it doesn't make sense. I've sold some big houses for some plumbers. Sure, sure. But those are entrepreneurs. Yeah. You know, they're not...

Nobody who's a grunt, I don't care if you're a lawyer. If you're a grunt, you're not working for yourself. You're not a partner. You're not actually making as much money as you think. It's owners that make money. But that aside, I'll push back here on you a bit, Colt. So Freakonomics, if you look at these guys, if you look at the lifetime earnings of a college graduate, they're disproportionately higher than the- Absolutely, because you're forced to- 66 is that number, I believe. Freakonomics, 66% higher.

But it's 66% are disproportionate. So I am so pro-college. And it's not just, I think if you're a plumber, you should also take some liberal arts classes.

Take some courses. Take a philosophy course. And here's why. Learning how to think is going to help you out in every aspect of your life. You don't have to go get a degree in sociology. That's not going to help you. It's not the degree that's going to help you. Unless you want to go be a lawyer or a politician or whatever, or a teacher, whatever, or a doctor. It doesn't matter. But if you don't understand what logical fallacy is, if you don't really understand why straw man makes your argument shitty –

you know if you don't understand then you never you're not speaking the language of of of other people in the field who are educated on the topic so you're speaking a foreign language i wouldn't go argue with somebody in spanish no i agree but look at your look at your call you went to college i went to college john did not even go through high school he found out university baby what are you talking about honestly i'm gonna take like you know bowling and stuff like that

A fourth of my college was BS. The other fourth was like, sure. Oh, you know? Yeah. No, but then half of it was great. Right. Was poor. My trade. And I get it. Trade schools should probably open up and say, you know what? Let's bring some different avenues to it. Just not. This is how you fix something because yeah, there you go. Work, be a plumber or eat. Like you said, attorney, you see some of these attorneys, uh,

You're like, really? You went through all that school and you're making no money. This is what I'm going to say is I am super pro-college. I went to college for a couple of years. Obviously, at some point felt the institution had nothing further to offer me. But here's the point. This is what it does, in my opinion. It teaches you to be an adult. It teaches you to think differently because you're surrounded by others also learning how to think differently. And you're thrown into this dish of like-minded people trying to do something different than they've done before. Right.

And I think even as I go through, I've met some 25-year-old kids that are super successful. They never went to college. And what I found is even though they're making a lot of money, there's some entrepreneurs like through the hustle, whatever, making a truckload of money, emotionally they're kind of still 18. Stunted a bit, yeah. They're stunted because they didn't get that life experience of going off and learning not just philosophy

philosophy and Western Civ, but they didn't learn how to be an adult. Or learning how to be wrong and learning how to have someone tell you that your idea isn't well thought out. It's almost like the criticism of law school. So here, just from my experience, I did my JD MBA together, so I went to business school and law school at the same time. I'll tell you how much more difficult law school was than business school, and here's why. Business school is a lot of times practical. You're learning economics and accounting and finance or whatever.

But law is this whole thing where you take a room full of people who are all straight A students throughout college, not high school. They're all college straight A students. I don't give a shit. Everybody in that room. In Canada, that's like a C minus. It's like a D. It's an American D. It's a metric A. It's a metric.

I got out of a metric. A is like, you take a metric, a, you know, people that all get a students their whole life. They're elite at school. And you say, okay, 20% of you get an a, you know, you're all a students. Only 20% get an a 60% going to be in 20% going to see, it doesn't matter what you do. If everybody in that room is Clarence Darrow, 20% of the clearance, those are going to be a Clarence Darrow's and 60% are going to be C, you know, B Clarence Darrow. So,

at the end of the day, you have to get in there. And that's why law school is competitive is because you're playing on the human ego and you go in there and you're fighting. And there's like one final. There's sometimes a midterm, but most of your grade is resting on one final. That's it. There's no homework. You have to be an adult. You have to self-manage and read all these things. So you're going in there going, oh shit, I don't want to be one of the C's. And that's what motivates, right? It feeds on that need in people. So what you're doing is you're,

You're always feeling inadequate. It was the first time in my life for years where I was working as hard as I've ever worked in my life. Other people feel this. Other people feel it too. I only felt that way after I met you next to a gay porn star. You get your ego shit kicked for years. Your ego.

And when you come out of that and then you go online and you hear all these constitutional experts talking, you go, the problem with you is you've never had your dick really kicked in by these better ideas than you have. And you don't even know when they come up because you're not really trying. You're not paying attention. You're not paying attention. You're not trying. You're not willing to be sort of beat up and have your ego take some mad shots because that's on the bottom of the Dunning-Kruger spectrum. Yep.

Well, kids, I think that's the consensus is with the exception of Colt. And I mean, you'd be the judge of how you want to turn out here. Stay in school, kids. Stay in school. Which one do you want? Well, that's going to wrap it up for another episode of the Power Move. Again, remember, if you have a good Power Move noise, it's going to be better than this one. Please send it in to us because we'd love to hear it. Oh, it's that one right there. With a copyright waiver.

exactly that allows us to use it as we want and we get sued later and uh yeah man remember if you like what we're doing tell somebody if you hate it tell two because it doesn't matter if they're talking good or bad it's when they stop talking you got a problem hey it's john gafford if you want to catch up more and see what we're doing you can always go to thejohngafford.com where we'll share any links that we've things we talked about on the show as well as links to the youtube where you can watch us live

And if you want to catch up with me on Instagram, you can always follow me at thejohngafford. I'm here. Give me a shout.