Meet the Slumlord Earning $1,000,000 / Month
Вставка
- Опубліковано 1 лют 2024
- Thank you Tom Cruz Section 8 for telling your story on the channel. Join me + learn how to buy houses with $2,500 down: event.webinarjam.com/register...
Section 8 Tom Instagram: / 108337340566119
Section 8 Tom TikTok: www.tiktok.com/@tcruznc?_t=8j...
Description: In this video, I get a chance to meet someone who I've been looking up to for a long time. Tom Cruz and no, not the actor, but the section 8 kingpin who went from the purchase of a small house in Wilmington, North Carolina to owning over 700 section 8 low income properties, a $5,000,000 yacht, $3,000,000 in cars, a $20,000,000 house along with a $1,000,000 / month income. This is someone I have been wanting to do a video with for a long time and if you guys enjoyed this video please be sure to drop a like. 5,000 likes and I will get into the section 8 business for myself. Let me know should I do Turo again next or section 8?
Inspired by Graham Stephan: Meet the $250,000,000 man
• Meet the $250,000,000 man
Section 8 housing is gold. I love not having to stress about getting the rent on time.
Is the risk of missed payments the biggest thing stopping people from getting into rental properties?
@@StockyDude it’s a combination of lack of knowledge, fear of failing paired with lifestyle inflation and not saving their money for a down payment.
how can one get started in section 8?
@@erykbabiuk8660 you can stop by your local section 8 housing department and let them know you have property for rent. They will send qualified tenants your way.
How many doors you have ?
That 100 foot yacht is the biggest waste of money I’ve ever seen, but what ever floats your boat.
$100k a month floats his boat
Pun intended
I mean at that point of wealth, what else is there to buy ?
When you have an excess of cash coming in like that the price point is kinda irrelevant
With a good CPA, they could write off most of the expenses.
Ok this is one of the only videos I've ever watched all the way through. So good!
as a milwaukeeian i love the motivational vids bro😎
I’ve actually met Tom Cruz when he lived in NC cool guy
Dudes a walking red flag….
I would love to do section 8 or my own private affordable housing and add value to the tenants. I would probably include a financial literacy course with counseling
That’s dope but unfortunately most of them don’t care to help themselves. I actually asked Tom about this off camera and most of them just exploit the program and don’t care to work
Go do it! Your the only one standing in the way of that dream. Life is a numbers game it only takes 1 yes to change your life forever. Get right with God and he'll take you where you wanna be.
@@financialwolf I hear that from many folks.
I would love to try and see. I just feel like most, not all folks would prefer not to struggle or live a basic life
Wish me luck 🤞🏿
@@joshdepuy191 I'll try it for sure. A tiny house village is coming and other alternatives.
First I need to focus on my biggest goal first
yeah - i think like anything some people will be in sec8 out of necessity and others will do it out of desire to take advantage. it's a grey area bc its not only one type or the other. If you do add real value to 20% of tenants lives and ultimately make your life easier - when you are large enough introducing that sounds like a great idea. and yes- some people in bad situations want more out of life, no question@@NicksDynasty
Great video. I wanna see more content like this. I think it’s good of you to interview the people that are the best at what they do. Keep it up.
The encroachment fee blew my mind!!
Great video!
Great video, Will! We've been looking into going into S8 for a long time (I purchased Toms course last year), and I know I'd love to see you take the leap into this business! Keep up the great uploads!
Oh awesome! I’ll definetly have to ask about your experience with the business model. Will definetly keep up updated
Hey I want your honest opinion is his course worth it ? I was thinking of buying it but it's a pretty big investment. Last time I check I think is was like $5000
Whaaat? 5k is that course??? If thats true dont fall for it. I watched this whole video and it was pretty cool up until the part i realized Tom have a course to sell you. And naturally this video is actually Toms promotional material.
But rest assured 5k is absurd amount of money for a course.@onebeatsongs9326
Was his course worth it?
Damn bro why you deleting comments???
Nice video bro!!!
Bring these kinds of more millionaires videos
I love Tom cruise on tiktok. He is actually hilarious
No way love this dude saw him at chickfila in his rollce royce in my hometown last summer
I would love to see his coaching and let us know wolf🎉❤
With the Tulsa shirt, nice!
congrats to your wealth u deserve it many dont
Good Video My guy Make more of these videos about buisnesses people have not heard a lot about earlier👍
Please do a review of his course!!! ❤
It’s very basic. If you buy one home on your home and list it with section 8 and learn how to, that’s 80% of the course. But I’m sure you may pick up one or two other things from him. I’d like to hear some insight in his software though. But he’s always coming up with ways to sell you more once you’re in the course
This is the one where you really strike gold man do it
While I am not in a position to afford it now I would like to purchase Tom's program. Where do I find it?
how do I do section 8 housing?
My mentor!
Are you apart of his program?
@@davionbradford329 yes
Keep the uploads coming! Appreciate the content!
Thanks, will do!
It was be so cool if you did a series on section 8. I loved the turo series
please keep us posted when you buy the S8 house. Please do more videos about this. great video
More content on this brother
I paid this man 5,000$ a year ago and still don’t have a section 8 property rented out yet! Beware, you need to make sure to have an extra almost 100k to get a shitty property to fix up
seller finance boss so u dont have to put all the money down
but was the content, info, and training you got for $5,000 worth it?
To own the property or put a down payment?
You did something wrong then
Nice
Section 8 is great as a landlord. You get the rent ontime every month and they generally pay more per month.
Bro real estate that’s where you will want to ultimately focus 100% at
long time subscriber from Green Bay here, you live in MKE?
Yessir! Go packers
3 vids in a week this man is grinding 💪
did you change the thumbnail and description i swear it was different
Yes
Much better with the stock footage and the people you choose to pop up on screen. Thanks
I bet you he actually makes the majority of his income on that software platform rather than real estate portfolio.
He just started offering this. So that's an ignorant assumption
I'm a little late to the party but I'm pretty sure that Sec 8 would work out better and be more scalable than Turo...imo.
Is there a reason why when you mentioned how bad downtown Wilmington, NC is that you chose to show video clips of black rappers?
It’s literally a crip gang
LOLOLOL
bro i noticed that too. weird. it like anything bad is assosicated with being black.
cool
I’m 16 and I plan on buying a rental property by the time I’m 20 and I want to get your opinion on if I should go straight into S8 or start off with a “regular” rental?
Anything within your budget always try to owner finance property’s when possible and don’t be afraid todo a lot of the work on the units yourself sweat equity is huge good luck !
didi you ever join toms program? just curious, i did
🐐
People in this thread have no idea how section 8 vouchers work. They dont pay 100% of the rent... The tenant has their obligation to pay their portion as well. They require more in depth unit inspections and the renants are usually really hard on the units. This offsets your cashflow when uou have to spend thousands on turnover. Goos luck garnishing wages or having the local housing authority cover your damages.
What happens if a lot of people get into this game and overbuy properties… who is going to rent??
This won't ever happen. The stuff he teaches has been readily available to whoever wants to do it for decades. I do the same thing, just on a smaller scale. Though I primarily have market rate tenants, I do have some Section 8 tenants.
Oh I feel ya, I've evicted a single mother. Real estate is a business, not a charity.
Hell yeah buddy!!! 🇺🇸
Pls make a video on buying online cc and paypal transfer from dark web
hes from the uk he said pounds
Lets get this to 5k likes
Was the camera man scared
Is it shaky? Sorry :/
Wassup
Am I the only one that caught the handgun @10:10 ?
So why doesn’t he buy all the properties on his own website?
👍🏼
bro, been trynna learn ab that, thanks for the value brother
No problem 👍
Why does no one ask about his business before sect8.. of which he sold
Over leveraged on debt and is literally blowing his money on yachts and super cars. He’s one housing market correction away from complete destruction with no safety net. I imagine there were a lot of people in 2005-2007 exactly like this guy
Jealousy consumes the weak.
@@RealEstateAndLandlordNews kick rocks bozo
A housing correction would affect the sales prices/values of the homes, not the rent coming in. His payments would stay the same, and the rent coming in would stay the same- unless you’re assuming the government would stop paying section 8 or reduce the amount? Which they e never done before in history. A housing correction would have little effect on this guy’s business. Not a fan at all of Tom- he seems pretty immoral & scummy, but there’s little doubt he’s got a handle on what he’s doing.
What do you do for a living?
Seems like dylanfitzgerald is correct. What do you think?
👍
Anyone who shows off there material wealth in order to sell you a course should immediately raise a red flag..
I took one of his free classes , And I learned alot . At the end he sold his course and software to some people . Its Solid and Legit , you only need minimum 2500 or even 0% Down but if you invest 2500-5000 you would get more Cash Flow with the Property
@@user-vb4kq2jo1q Yeah I heard of his strategy, he wants people to buy some home out in the middle of nowhere for 50-60k using seller finance. Which is a very dumb thing to do when its your first property, these properties that are worth 50-60k may have a whole array of issues that may need considerable number of TLC/Repairs before it qualifies for section 8.
You'll barely be able to cash flow at all with 0 to 2.5-5k down, paying a management fee, and there a reason why no serious real estate investor hasn't bought these properties up yet and the seller has to use seller finance to get rid of the property. .Furthermore, the online HUD that the housing authority or section 8 shows on there FMR rates are all BS, they NEVER pay the full amount what they advertise, any section 8 landlord would tell you.
u make no sense
I leave in Milwaukee, are you interested to become partners?😊
A tenant died at one of his apartment and he was worried more about appliances instead of the life that was lost I stopped following him after i will never do business with someone who has no morals and disregards a human life over appliances he definitely the type to stab u in the back for his own benefit also he seems really desperate to sell his course kinda weird when u make 1mill/month but hey if it worth his time why not🤷♂️
This doesnt add up. Section 8 will cover up to 70% of vouchers income and you they dont hike up rents. Its based off fmr (fair market rent)
Uploads been crazy lately 🔥
Thank you!!
Why not just sell the Damm yate re-invest that all money more property 😂 and rent one more cheap.
Greasy
If he earns $1,000,000 a month. What is his net income?
That’s net
Trying to calculate how many properties to profit 1mill a month lol
Somewhere around 750 if they are paid off. Maybe up to triple that number if they are not all paid off.
Is ur dad still gives you 1000$ allowance?
But how did he make so much money with that? Did he like buy a million properies of smt
Yea pretty much
the numbers don’t make sense. you have to have at least $30M in the bank to afford that boat, and the house is worth less than that? seems sus
This dude is a major scammer. He was into email marketing before real estate. He overcharged my.card. then sent fake refund emails. Then claimed bankruptcy after driving a ferrari all over facebook..it would not surprise me if he owned nothing..
ive heard similar stories!
I wonder why this guy changed his name hmmm
You dont have to be broke to get corporate welfare, youngsta!
We need dark web series
Another episode is coming soon!
In my eyes, this guy is providing housing to ppl who are lower income and struggle to afford a full rent payment. Yes he is rich, but so are the owners of other big apartment complexes that offer section 8, and basically any other priced apartment too. In my city it is sometimes hard to find apartments that accept section 8 at all due to the amount of rent they want to get out of a unit. Big companies come in and buy up the apartments and jack the prices up too, congrats u made this apartment looking slighly better, but why is a 1 bedroom 1200/mo now? I dont see the problem with somebody providing adequate housing to ppl who otherwise couldnt afford it. He could easily buy properties that will rent for 1200 and price himself out of section 8 completely. Not say hes an absolute saint that just wants to help the poor ppl out. But he is taking on riskier tenants that im sure can be hard to deal with *AT TIMES.
Forget section 8 housing, the real winner is his neighbor making 10k a month for literally nothing. I wanna move in next to him
little tip: run your bad audio through adobes voice enhancer
Lol if he was so successful why would he need to sell a course?
To be fair the money he has is beyond what u can make from a course. I think he’s honestly a businessman, but I’m prepared to show the actual honest side of what happens I’m interested!
@@financialwolfplesse get the course and make videos
Last I checked colleges are successful yet they still sell courses 🤔
Probably the same reason Starbucks keeps opening up locations
nice
Thanks!
section 8...eww. That can destroy a neighborhood.
As he said he loves exploiting low income people for his hundred foot yacht
@@londarousey8767 The middle class is being exploited, not low income. The middle class pays the free housing for the poor and thus the fortunes for the wealthy. That's why the poor and the rich love leftist parties.
LMAO s8 isnt making him millions selling courses is 💵
2
first
Appreciate ya
Every tenant I had destroyed the property
Ughhhh
People suck. I rented tons of places and always treated them good. Only ever super minor stuff that sucks
😮
He got rich off of selling courses, not real estate
Honestly we need start seeing some tax paperwork. Showing off yours toys and houses is cool and all but this can rented for the day and faked
Edit: if he found a strategy to get rich why is he taking the time to expose it?
Nevermind he has a course to sell
i mean his software if the real deal is definitely cool for selection advantage and hes very well spoken.- but yeah anytime someone goes into guruing its a bit sus-i dont think anything he said is a true secret but more like a compendium of knowledge of publicly known stuff i guess. i think its ultimately a lot of work and the national property market is massive - dont think he has any reason to worry about too much competition. that being said gurus do deserve suspicious care when trusting.
Idk how dude would get his hands on a RR eclipses by renting it lmao so there’s one answer
1. The cars, houses, and yacht are not rented, as he showed them off for months.
2. Investing in Section 8 is not anything new. Also, despite people knowing the method, most still won’t take actions for many different reasons so competition isn’t an issue.
3. If you have knowledge and experience that people are willing to pay for, why not get the extra source of income? You’re either going to pay for someone’s experience and knowledge or you’re going to pay the same amount, if not more in the mistakes you make assuming you take the solo route without guidance.
4. It’s valid to be skeptical about people like this but you have to take action regardless unless you want to remain in the same position.
@@tempo2488 1 Anyone who shows off there material wealth in order to sell there "get rich" courses immediately should raise a red flag. That is the typical tactic of a fake guru.
2 Investing in section 8 Indeed is nothing new, but there a reason why many landlord won't participate in the program.. Section 8 gives landlord a whole laundry list of maintenance and repairs for the property to qualify for section 8, although not all tenants are bad, but most are under this program and they will trash your place costing you a fortune in turning it over. Inspections done throughout the year from section 8 is a pain in the ass, and they always find a reason to fail you, The program heavily favors the tenant over the landlord.
3 He is selling this course because that is his main source of income. I heard his course cost nearly 5k.. If he manages to get 3k people to buy his course, that's 15m he made from just selling courses.. Which is FAR more profitable then real estate, as you would have to own nearly 300m worth of assets in order to generate that income.
4 I agree with point 4. There actual moguls online that DOES NOT sell courses. Such as Ben Maliah, who owns 500m worth of real estate, he actually shows you the buildings he owns, shows you the management of those buildings and gives great, real, and raw advice.. The only thing he sells is 1 on 1 consultations where you can directly speak with him on the phone if you have a question about a real estate deal or a question about your portfolio in general. Which is more "authentic" in my opinion.
he is not a slum lord
Every time you mentioned anything negative, you showed a clip of black people. Whether the term was “crime”, “negative”, or “bad stuff” you showed black people. Do better..
Cars and Boats are a waste of time.
5 th
Scam
ye i dont agree with that stupid argument of he's a cause of there poverty they will be poor without him lol
I agree with joe biden
Guy is a scam Artist
You can be rich whatever, but the way he talks with that superiority …👎🏻
What's his Instagram? Link isn't working.
sick video would you like to collaborate?
Watching this video gets me so excited and emotional because I know once I find way and crack the ceiling living the Financial Freedom lifestyle I will be so happy 💼🤍