Caleb Hammer Exposed | Financial Audit

My name is Caleb. I'm 28 years old. I'm. based out of Austin, Texas, [music] and. this is Financial Audit. This is crazy for me to be sitting here. It's crazy for me. It's nuts because I've seen so many. videos, and it's hard for me to be in. this seat doing this on you because I. would be on the other side of this. Dude, I've been watching Graham Stephan. for like 3 years. How do you think I. feel right now? It's so [laughter] cool. So, tell us. what you do for work. What would you. explain your job is to someone who's. asking? I do the YouTubes. And yeah, we get paid. for the videos that are put on there. But, you've carved out a really unique. niche, I think, on YouTube. No one's.

really done it. Dave Ramsey has, but he. hasn't taken it to the podcast format. Yeah. So, what prompted you to get into. auditing full-on financials like this? So, I think the way that I thought about. it is like the other things that I do in. my creative process. Like, I studied. music composition in college. So, when I. would go to write music, I'd be like, "Okay, here's a piece of music that I. want to hear. It doesn't exist, so let. me write it." Here's a show that I want. to watch. Here's a conversation that I. wish happened to me 10 years ago. Doesn't exist. I guess we should make.

it. Are you a fan of Dave Ramsey? Oh, I Yeah. Yeah. No, I mean, he paved. the way, right? Sure. Um you know, he definitely goes a bit. political and stuff, which can turn. people off, which is fine. That's why I. try to avoid that here because I think. anyone and everyone should be welcome. into finances, regardless of the I don't. want anyone to, you know, feel turned. off. Yeah. Yeah. But, I like him overall. Obviously, he's helped like what? Millions of people. Obvious Yeah. And you have a great. schedule as well. Filming Monday, Tuesday, what was it? Thursday?

and Thursday. It's great. You really seem to have this. dialed in. So, tell us a little bit. about your goals. Like, what What is. your objective with doing all this? So, we definitely want to help as many. as people as possible. That's certainly. the big thing, and that's why, you know, recently we've like sent out a survey to. all past guests seeing like how they're. doing and capturing like what how the. whole experience was. So, overall. primary goal, helping the people here on. the show because, you know, regardless. of any income that comes to this, um. just seeing the reward of people getting. out of debt is actually really cool. So. many people are going to think like, oh, you know, that's not true. I mean, it's.

about it's about the money. But no, actually seeing people get out of debt. and changing their life is incredible. And we get like a million emails, social. media, YouTube comments, all these. people who've watched the YouTube videos. and they're getting out of debt. Dude, that is like the most like it just. lights a fire under you and you just. want to record more episodes and like do. more things. And then of course, the. financial reward that has come with it, like the amount of money that is coming. in on a monthly basis isn't something. that I would have dreamed about making. in a yearly basis. It still blows my.

mind. I can't even comprehend it. So. Yeah. What were you making, let's say, 2. years ago? 2 years ago, $100,000. after bonuses. And what were you doing then? I was a product manager. About, yeah, 2. years ago I would have been a product. manager, yeah. Okay. And why did you decide to leave. that to then do YouTube? I was getting just frustrated with that. business itself. They didn't really. listen to anyone who like focused on. different areas of the business. And I'm. not going to name them. Sure. You can name [clears throat] them. Okay. Let's put it on the screen.

Yeah. [laughter]. Rhymes with. Uh but yeah, I was just getting a little. unhappy [snorts] with them. So I started. looking with looking for other product. management jobs. But I also like the. idea of operation side of things. So I. was looking for operation jobs as well. Uh and I just started applying to a. bunch of things and then uh like I got a. call back from a YouTuber who I. accidentally applied to because I did, you know, like apply to like a thousand. a day or whatever. Uh he ended up not. hiring me and, you know, for whatever.

And. but then I was like, but I love creating. things. Like the arts world and stuff. That's why I went into music. I like. creating things. This is a show I've. wanted to do. So I was just like, okay, let's just start the show and it just. ended up taking off. Thanks to all you. lovely people. It's completely uh thanks. to them. But uh it just took off and. then I was able to pursue it full time. You're very good at asking people to. subscribe, by the way. I noticed right. around now you're telling people. subscribe. You got to hit 750,000. subscribers. 750? So, that's coming up.

And thank you to everyone who has. subscribed so far. We just hit 700. today, and it's all thanks to you. Congratulations. good, yeah. That's good. 700's a good number. Yeah, it's an exciting number. Yeah, that's fun. What are your goals. though, financially? Like, what do you. want to attain? Mhm. I think. ca- So, for me personally, hitting a. certain number that I feel comfortable. with in monthly cash flow that I can. pull like, you know, 3% from an overall. stock mar- stock market portfolio, or. cash flow income from real estate or. business, uh. that equals. what I would need to live maybe times.

two. Okay. And then I would just never have to. worry about anything again, cuz this is. a very stressful job. And stress and. anxiety and stuff that I have isn't. always the best. Sure. So, hitting that number would give me. the flexibility of just knowing that, okay, I could just coast until I'm dead. Okay, what is that number? What do you want? And then we could. break it down from there, cuz we're. we're going to be starting at the end. point and then working backwards,

figuring out how you could get there. 16? 16 would be good. 16,000 a month. Okay. 16,000 a month in cash flow. I'm going to say something unpopular. I. don't I don't think $16,000 a month is. going to be enough. Oh, okay, maybe not. looking through a lot of these expenses, and your mortgage, I think substantially. more. I think you have to be more in the. 30s. No, you're right. No, actually, you're. right. Cuz I just. you want to double that, I think you. have to be probably around half a. million dollars a year. That's where I think That's where I. think you have to end up. Yeah, so quick math in my head, all I.

did was double my mortgage, but then. that means that mortgage But that means. Well, that's terrible, cuz that means. mortgage is 50% of my income. That would. be aggressively terrible. So, I don't. know, $25,000 a month. But again, even. $25,000 a month, I feel like that's just. like I'd still have money that I. wouldn't even know what to do with. It's. like it's peace of mind. It's peace of mind. That's what you really want. So even if. the market crashes 50%, you want to be. okay. I'm the exact same way. I assume. all my investments are going down 50%. And then I assume other investments, they're worth nothing. I don't even.

count them. So all of these things in my. mind, I'm like a black swan event's. going to happen. Everything is going to go to zero, and I. work based off that. So I'm like kind of. the same way when it comes to that. So. let's first talk about your income. What. would you say it averages out to be. every month? Yeah, it's a good question. So it. definitely varies month by month, but. since well, thanks to you all amazing. people out there who are incredibly. supportive, I think, you know, recently. it's more like low six-figures on a. monthly basis comes into the business. before payroll and before all other.

expenses like, you know, giving a flat. rate to people who are traveling, and. you know, some other expenses that the. business is required. And of course, both of my employees make over. six-figures on a yearly basis. So but. that's that's what comes in before all. those expenses. Congratulations. Thank you. It's ridiculous. Posting hour-long videos three times a. week. The consistency that I see in your. channel is admirable, man. Appreciate it. I did that for six years at three times. a week. It it is grueling. It's grinding.

to keep that sort of schedule and have a. backlog. Like just in case you miss. something, to have something else you. can post. Congratulations. How new is. that though? It's very new. Um I mean, when we when I. did an audit on Jack, I was making maybe. 15, 20,000? Mhm. What was that? Like six months ago? [clears throat]. Yeah, so it scaled up incredibly. quickly. Yeah, no. I've been very blessed. Congratulations. So that's why I think it it's it's. somewhat difficult to navigate making. such a high income because all of the. other expenses that you normally worry.

about don't make a difference. Like a. lot of the money that I've seen you. spend are just rounding errors. So it's. hard for me to go through and be like, you spent too much money at uh. Jimmy John's because in the big picture, it really doesn't matter that much. relative to how much you're making. But. in doing so, there's a lot of stuff that. tends to fall through the cracks that. you just don't care about that could. easily be cleaned up. The one thing that really stood out to. me. I guess we'll get into the juicy part. now. I see a mortgage. Yeah, I got one of those thick.

mortgages. $8,000 a month. I put towards it. I think minimum's like. 7,200. And what about property taxes though? Cuz that's another good chunk. Oh, yeah. Well, that's all included. So, that's mortgage, property taxes, insurance. Okay. Yeah. But no, a massive portion of that. is getting by property taxes. Then of. the property taxes, like 30, 40% of it. gets recaptured by the state and given. to other portions of the state anyway. So, it's not even supporting Austin. So, why did you decide to buy? Cuz it. seemed like you went from. Like. because it seems as though like 8 months.

ago you wouldn't have qualified for the. loan. And now you're able to qualify. So, within 8 months you decide, okay, I'm making a decent chunk of money. Let's go and put it towards a house at a. 6 and 1/2% interest rate. is brutal. This is This was I think. [sighs]. I don't When it comes to financially, I. don't do a lot of impulsive choices. This is one of the more impulsive. choices, but of course. it just also happens to be basically. $900,000. That's a big thing to be impulsive.

about. So, like me. But. I needed more space. So, Austin. neighborhoods starting from downtown, kind of the radiuses around it, the. first inner loop of highways, maybe. throw a map on screen, I don't know. A lot of those neighborhoods, you know, the houses have been bought, torn down, built up new. Now they're starting to do. the outer ring. I bought just slightly. in the outer ring, one of the first. places in this neighborhood that is. doing that. So, I really think if it. follows the trend, this is more of a. bet, which is not a great way to go.

about things. But if it follows the. trend of the rest of Austin, I think. this neighborhood in the coming years, you know, there there's houses for sale, tear down, build nice new house. And. then again, one zip code over, this is a. $2.5 million house versus $900,000 here. So, I think it has potential. that I see is that you're spending more. money owning the home than you could. just pay renting it. And you're tying up. 20% of your down payment. I just don't see the upside. You having. just recently come into a whole lot of. money through this channel, not knowing.

the trajectory it's it's probably going. to go really well for you, most likely, but in that small chance, YouTube. algorithm changes, something changes, you have no control over those sort of. things. Probably you're safe. Uh but spending. this amount of money on a house, I would. have told you just to rent. I know. Well, you told me to rent. You would be You could probably rent a. home similar to this, I'm guessing, for. under $7,000 a month. find it, but I also wasn't being. patient. Uh but if I waited, I could. have found something like that. Probably. I wasn't patient.

But you weren't patient at the expense. of the next 30 years of having payments. Really high payments overall. Mhm. Yeah. And the house I also have to say is is. is a newer It's not a newer. neighborhood, but this is like the only. new house. As we were driving up, I'm. like, "Oh, that's got to be it.". Again, that's the inner That's the. That's the loop thing I was talking. about. So, that was more of a play. I. just We'll see if it works out. The ideal play, in my opinion, would. have been to buy a fixer. Buy something. that like needs a good chunk of work to.

it. Please. And then you buy it for way less. Maybe. Like what what's the average price in. these areas? I'm so I hate that process. I hate that. process. Cuz it's so annoying. This is. the first time I've been able to turn. key. ever. Yeah. And it's been so nice. Instead of. endless construction going on, it just. bull bull. Every day that's costing you $280. Hey, just for you to be able to say. that. And the newness is going to wear. off. Give it about 6 to 8 months, you're. going to be itching, you're going to.

think, "Ah, I need some more space. The. driveway is a little too steep. Can't. fit my Ferrari up there. It's going to. scrape when I try to. Jeep Cherokee and I have no plan of. upgrading, to be very clear. When you get an exotic sports car. convertible, you're not going to be able. to pull it up the right way. No, that's right. That's. scrape on the splitter. I'm just saying, it's a very impulsive choice. It it was. I I would have preferred uh to have seen. you save some money, maybe with renting. nearby. Well, you know, I was for less, yeah.

So, it's. uh my equity position in this house is. like 20% of my net worth. That's way too That's way too much tied. into a primary residence for a net. worth. The thing is your income is skewing. everything. Your income is skewing. everything. So, it's it's it's haywire. You can't really look at that the same. way, cuz you're making so much and you. could hypothetically, oh, you know, I. could pay off the home if I wanted to in. a few years if things continue with this. kind. pay it off now. Well, I mean, it that but that would. rely on you selling other things. no. And then paying taxes on those things.

So, I don't quite know about. No, you're right. No, after taxes. You'd still be a little. screwy on that. But just with all the. expenses on that, that's something that. really stood out to me as something that. uh. [sighs]. Just you got to cool it on the impulsive. bit. That's like the only thing financially. I've been impulsive on, for what it's. worth. Other than like, okay, I'm going. to go get a little nom right now and get. those calories. Uh that fits in the budget, but you're. right. No, that was. a choice. Love the house, though. It's a great house.

Yeah. Yeah, I like that house. I'm not unhappy with the house. that house, I don't like the price. I know. That's it. Um we also have to talk about. Oh, actually, well, before you leave. from the house, listed for 1.4. I got it down to 914, though. Yeah, but it was never worth 1.4 to. begin with. not. It was not, but. Yeah, I know. [laughter]. People put their homes listed all the. time at ridiculous prices. Some of them, what they'll do is they'll. start it high and then reduce it so that. you think, "Wow, they just reduced the. price. This must be such a good deal. now. They just dropped it 15%." It's.

never worth that to begin with. And then sometimes they underprice it. and get multiple offers so it gets bid. up. It just depends on their. how motivated they are to sell. Um so, on the topic of the house, I actually. noticed you have an Ashley Furniture. loan so you financed the furniture. 0% baby. For what? 1 year? How long is this? it's 6 months uh 0%. Uh so, the logic behind this uh. uh we'll see. Humor me. I I personally like 0% financing or very.

low finances and uh financing and then. investing the rest. And that's just what. I wanted to do with this. Well, it's like 15,000 bucks total. Sure. didn't I wanted to invest that all. I I can't fault I can't fault the logic, but it seems like at your income it's it. would be the equivalent of you kind of. going out of your way to like pick up. pennies off the ground. It's like you. going down to town and be like, "I'm. going to pick up all the quarters that. like because when you think of how much. your leftover I see you have like a SoFi.

savings account with 4 and 1/2%. interest. After tax, what is that going. to look like? Maybe 1.8%? And then we got to think, what's 1.8% of. $15,000? W- what is that? That's going to be two. basically rounded up to 2%. Uh and then. we got to think, well, only 6 months. worth of that. So, yeah, it's not bad, but I just think in. the big picture is is this stuff like. this even worth your time? And that's. really what it's going to come down to. I think it's good to keep those habits.

of like being frugal, making the smart. choices, but something like this I just. I wouldn't even think about it. like to always feel like I'm I'm. finessing. But, you're right. No, I. mean, to be completely honest, I don't. think I've mentally adjusted to the. income. I can tell. Yeah. Because some of the spending seems way. out of control. And then some of the. things like this. This seems like. something you would do if you have an. emergency fund that's making some cash. on the sidelines that few hundred extra.

dollars over 6 months is going to be a. big deal. That's really going to help. out. That could be a week's worth of. groceries. But for you when you. calculate how much that's that's worth. relative to everything else. It just. doesn't seem like this is worth the. mental headspace of having an Ashley. Furniture loan. The furniture almost. million dollar home. So you can get free interest for 6. months. And I'm the one who's really. encouraging it. I'm the one who would say do it. But I think in your situation, if you could get better clarity on. anything else by not having an extra.

loan under your name, I probably. go without it, honestly. It is set up just for sake of your. conscience. It is set up that, you know, it's going to be. the minimum monthly payments that are. put towards it, you know, it. automatically pays off. I don't have to. think about it. No interest will be. charged. I was hoping they'd give you a discount. Like hey, open up a credit card with and. you get 20% off the entire thing. Usually that's what I see that they they. do. Like when you shop at Macy's, oh. would you like to open up a Macy's. credit card to get 20% off your first. order. 50% off. My friend's mom.

working there. Wait, wait, what? [laughter]. Your friend's mom. mom is the store manager there. So I got. 50% off. [laughter]. I didn't like bang my friend's mom or. anything. No. So I got 50% off my. friend's mom though. [laughter]. Your poor friend. She's a she's a very lovely person. [laughter]. [snorts]. So while we're on the topic of real. estate though, I do notice you own quite. a lot of real estate. Congratulations. One, two, three, five properties in. total. Yeah, yeah, yeah. So walk us through this. Besides this.

place that you bought with 20% down, you. have a condo that you bought at a good. time. Mid 2021 so values have gone up a bit. since then. And you have what seems like a decent. chunk of equity, about a hundred. something thousand dollars of equity in. this. You're going to hate this. Huh? At that great rate, I still I want to. sell it right now. 3.13. I wouldn't be opposed to you. selling. Really? Cuz here's what I think. When I when I. see this value in your payment, your. monthly payment's $2,400 a month plus.

The condo association. Okay. What could you rent this place out for? Sell. Yeah, exactly. Yes, so. Thank you. Yeah. Everyone else has been saying no. Thank. you. Well, that's what I would do. Everyone's like the land's going to get. bought by some cuz they changed the. zoning so it can go higher and it's an. old building and there's an empty lot. next door. So they Someone thinks. someone's going to come in and build a. new complex. It's possible. But but negotiating how. many how many units in this building? It has like 30. It's really small.

Negotiating buyouts is going to take a. long time. It's very complicated. And. for a developer, even though you can build higher, it. doesn't mean it's it's. And the people on the board don't care. anyways, so. to build higher. Yeah. So I'm saying for a developer, when they. see a building like that, usually they. want a building empty. They want. something easy that they can just tear. down, start building soon. Negotiating. buyouts, like 28 people could be on. board and then you have the two that. aren't. And then what do you do for. those two people? You have to overpay if. you want to get them out and someone. could still hold out. So I would say in.

this case, unless you're really betting. on Austin continuing to go up in value, it doesn't make sense as a rental. If. you did rent it out at 25, you're going. to be gaining minimal equity paying down. the mortgage every month. It's going to. be a hassle. This is one of the few. places I would sell. The other benefit. is that you've lived here for two of the. last five years. Yes. So you'd be exempt from paying any. capital gains taxes. So for me, this. would be a no-brainer. Sell it as soon. as possible. And the market seems pretty. strong right now. So I would take that. cash, do anything else with it. I don't.

think it makes sense as a rental. I I want to put it into another. property, but up in Michigan cuz my. Michigan uh property is cash flow very. well. I see this. So you bought one at uh. $120,000. How do you find $120,000? Where in. Michigan is this? Midwest. Where in Michigan is. a college town, Kalamazoo. Really? Yeah. And you just hire a property manager on. it? Yep. So, I worked with someone that I. rented from when I lived there. Yeah. Uh their group, they rented to me. Um. and uh I mean, they're fantastic. They're my broker and they're my. property management company.

So, this seems like a pretty good cash. on cash return. So, your monthly. payment's about $900. Mhm. Monthly rent is 1250 and that monthly. payment, is that including like property. manager or everything? So, you're all. out now? a property manager will take uh $10,000. uh it's not $10,000. What am I saying? 10%. Yeah. Uh but that is before the income that. comes in. What do you mean 10% before the income. that comes in? So, the income that you see coming in. there is what I receive personally. So, that's after their 10%. Got it. So, this is net. That's a pretty.

decent cash on cash return. My only. criticism is whether or not this is. worth your time at this point because. right now you got a cash cow and that. would be your business. Yeah. And so, any. don't think about this. I've never. thought about it since I purchased it. That's good. Yeah. But you will at some point. At some. point, have you had a vacancy through. here? One of those is going through an. eviction. Okay. Right now. And you are thinking about that to some. degree. You you. To some degree. If you're financing furniture, you're. thinking about an eviction cuz you're. thinking about every day someone's in. there.

[laughter]. They're not paying rent. Honestly, I. think that eviction's costing you way. more than you're saving on. about it more than I do. [laughter]. I think I thought about it once this. month. That's good. You're very fortunate. I. had an eviction, this must have been. about 10 years ago and it was consuming. my life. Yeah. Every day I was thinking about it and. just like. and and I was receiving threatening. messages from the tenant at the time. Yeah. So, that was bad. I know that life. So, try to avoid that. Your next. rental's also fantastic. Uh well, you. bought it a little high so your values.

have gone down, but. Yes. That one was weird cuz it was. actually va- it was appraised much. higher, but the value has I mean, all I. did was go off of his estimates on this. app. No, those estimates are not accurate at. all. so I wanted to create rough numbers for. you cuz I I don't have access to the MLS. and I'm not messing with numbers up. there anyway. I just trust my broker. when I go to purchase properties. So, according to that it went down, but that. one is that the one I bought in cash? So, that's the one that's currently. going through an eviction. I I've given. them months months they have not paid. once and every time we've gone in to do.

a repair they like threaten the people. So, like I'm very morally torn on the. eviction thing cuz like you this is this. person lives here. Yes, I own the. property but this person lives here like. where are they going to go? They haven't. paid once and that's okay. I'm willing. to work with them as they're like trying. to find a new job or whatever their. situation is or if they have a medical. thing going on that's fine. But with the. threats going on that they've done. towards our maintenance people and stuff. like that is just a situation where. they've clearly not put any effort. forward of trying to get jobs. They've. hired lawyers to instead of try to pay.

rent. before we even started the eviction. process. Are you Are these professional tenants? Do you know what that is? Mhm. There's a thing called professional. tenants where what they do is they they. know the basics of the law and they can. move in with the security deposit and. get sometimes upwards of one to three. years of free rent. Mhm. depending on what they do. And I've seen. tenants also file for bankruptcy and you. can't do anything when they're in. bankruptcy, drag out the bankruptcy, they could cancel the bankruptcy in the. future, but they'll be able to get one.

to two years of free rent. And then by. the time you're actually able to get. them out you've spent so much time and. money that they then go and do it to. somebody else. They have another place. lined up and that's just what they do. She came with the house. Oh, she did? the previous tenant. Never take a tenancy like that. the listing price and the appraisal. price at the of what it was appraised. for doing a cash offer I got it for. $40,000 less than it was appraised which. was really good and I don't know I don't. know what it was appraised for today cuz. we can't trust a Zillow. So, I was. getting a good deal on it and still the.

projected rent. uh once we get someone in there from our. uh from my broker who every time she's. projected rent she's gotten it gotten it. more. She undercuts it. Like it it cash. flows at like 1.2%. a month of the value. like, "Who did the appraisal? Did you. did Did you do it?" Or is. an appraisal, you know, like a. professional appraiser. And that was part of your contingency, so you hired the Okay. Oh, yeah. And why couldn't it be delivered vacant? I don't know. Um I don't remember. I want to thank today's episode sponsor.

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screen or by checking it out in the link. in the description below. Thanks again. to SoFi for sponsoring this episode. It's a It's a lesson. Just Always you. pick your own tenants. You're in control. of that. Uh and then in Illinois rental. First one, yeah. This is the first one. Uh monthly rent. $950. on a. Looks like a $600 payment. Yeah, it's not the best. So, it's a it's okay. Uh. It was my first one. I rushed into it. you're saying you want to buy another. rental right now.

Yes, cuz I mean I've learned a lot. throughout the process. I have the math. down. I have the area down. And the. relationship my relationship with them. that's a different broker and stuff. They're okay. The area is not as good. It's that I just rushed into cuz I had. money and I was like I I've been wanting. a rental property forever. I'm just. going to buy a rental property. That sounds impulsive, too. Yes, it was. And I don't do that for. rental properties now. but we have a theme with you in real. estate seeming a little impulsive buying. a. You get very excited about real estate. buying a. HGTV kid. [laughter]. Why do you think that is? I don't know. Uh maybe cuz I've always.

been interested in real estate. Uh just. before I even knew anything about. personal finances like it was still a. dream that I would have rental. properties in the area that I grew up. in. So. It's hard to pinpoint at why but I I. know that's something I've been. interested in for a long time. Okay. So is that what you plan to do. with this Austin condo? I want to sell it. and then put it in a rental property. Are you seeing good opportunities right. now in today's with today's interest. rates? Three properties right now that's open. internally for the brokerage that. there's one they're putting it up for.

uh. uh $280,000. I think it's worth about. 200. uh $30,000 but it's currently cash. flowing. It's a a trip. triplex. Is that a word? Yeah, triplex. Triplex. It's a triplex. bringing in $3,500 of rent a month. That's the one I'm interested in, you. know. They're selling it for 2,800. 280,000. I should be able to get that. much lower with cash. What's the What's the area worth? I mean. is is that it's high cash flow for a.

reason because it's got to be higher. risk. The area's probably not. appreciating at the same pace. College students. So it's I buy right. off of Western Michigan University. But I mean it's just like across the. country zoning. It's. People we've ruined ourselves with. terrible zoning laws but because of that. they build no new housing in that area. Okay. And there's this there's always demand. Students need places to live. So it's. just like. since forever that it's been like the.

easiest place to rent that you can. imagine. like? What about repairs? Um so far I haven't had to do anything. major. But I am setting 3% aside on a. monthly basis for. future repairs and 3% an additional 3%. for future vacancies. Good. So but I haven't had any major repairs. yet. I've seen some college rentals and. they're trashed, man. Have you Have you. walked through. A virtual one. Okay. I've seen like holes in the wall, things completely broken, doors like off.

their hinges. It's wild. And I know I couldn't deal with that. never touch that. I know I couldn't deal with that myself. That's why I have this brokerage and. someone who's been doing it in the area. for 20 years with a good track record. So while we're on the topic of. investments, you mentioned something. about burger. Yeah. And you brought a whole bunch of food. for us when we got here. Tasting menu. 20 bags of food. And you're telling me you want to. invest, you want to buy a burger? Oh yeah. I I think. as far as So cash flow opportunities, again, to get to that goal, I'm looking. for cash flow, which sometimes What?

stupid because you have the cash flow. right in front of you. You have a pot of. gold that's right here. What? You too? Yes. Oh, well yeah. Yes, but you're but you're you're you're. like you have all the money right here. and you're like, "Ooh, what what's this. over here and maybe I could do this over. here and buy, you know, arbitrage this. interest rate over here for a few. hundred dollars." It's like It's It's. stupid for me cuz I see like all this. opportunity right here. Well, I don't I don't want to take away. from this though. Like I I already have. in place a full-time operator who would. run it for me completely.

So like again, it wouldn't take much. mental energy. I like outsourcing. So explain what burger is for people not. familiar. You schooled me on burger. burger I've ever had. Okay. Personally. I know you're going to disagree with. that. Jack [laughter] in the audience. who likes In-N-Out for some. unhumane reason. Um it's incredible. It's a local spot. open in a gas station a year and a half. ago. It's fantastic. It's owned by a. dude who's done actually really. successful businesses in Toronto and. then he moved down here during the. pandemic cuz everything was like closed.

up there and he just didn't want that I. guess. And he started this place. It's. just like the most fresh food you can. get. Everything the meat is ground on a. daily basis at the store and it is a so. good. It's affordable for the area. That. place is always popping. People are. getting delivery is like crazy and I you. know I I for legal reasons can't talk. about their numbers but they make money. So even like the 12% cash on cash return. I get on some rental properties like. if I can do better with some money I put. into something I feel like. So how much money would you invest in.

something like that? Uh well it's well it's going to depend. on the location cuz there's going to be. build out, right? Physical build out. So. that would be the expensive place. He's. not going to since I'm going to be the. first franchise owner and then obviously. I have the media presence. I'm not going. to have a franchise fee and until it's. well profitable I'm not going to be. paying anything on a monthly basis back. to him. So it's almost like an. independent offshoot until it's. successful. Uh so the finances up front. would be um you know whatever inventory. we need and then obviously the build out. of a location. Build out is expensive. So I looked into. doing a franchise and I got to the point.

of having a franchise contract ready in. my email reviewed by attorneys and I was. one signature away and I decided against. it. The cost is through the roof. It's. going to take way more money than you. expect. Mine would be a small franchise. Not even a big one, a small one. Similar. to you, more of like a startup. Yeah. Hundreds [snorts]. of thousands of dollars is how much it. takes for the build outs. Hundreds of. thousands and it's going to take longer. than you expect. So I think you're. probably looking at if it's if it's.

anywhere similar to mine and it the. food's somewhat similar. it was like five to seven hundred. thousand dollars depending on how high. end you're going with this. Yeah. That's how much it is. So when you're. talking about basically betting your net. worth on a franchise. I know. that's silly. It seems. I don't think you're at the point where. you could make FU investments. A. franchise is something you do when you. have FU money, when you've made it, and. you're like, I could afford to light. this money on fire, and I wouldn't even. care or notice. Then you could start.

making. burger investments. You're not at the. point you you have everything. You you. have a winning lottery ticket, and you want to make a side bet. Betting. that lottery ticket that well, maybe I. could do better over here. The other. issue that I see with franchises, you're. stuck on that lease. You're signing a. long-term lease on Usually, those leases. are like 5 to 7 years, and then you're. negotiating options beyond that. What. are you going to do in the event that. business is not doing well? You're 600. grand in the hole. You have a monthly.

payment of 5, 6 grand a month. The. business is losing money. You're dealing. with employees who are quitting. High. turnover rates on franchises, by the. way. Yeah. A lot of insurance costs go into that, too. A lot of expense. You're also at. the whims of whatever the food people. want to charge you for the for the cost. of the food. There's so many variables. You also have to consider the location. that you want to get in. One location. could be really successful, while the. other's not. Yeah. So, you're building out a brand new. audience somewhere else who's not used. to going into the Buddha Burger. It's. not This is not an investment I would.

ever do unless unless you have so much. money that you just don't care. Like, this this is this is a fun investment. that you should value at zero, because. you don't have experience in the food. industry. You're relying on other people. without the experience. Please, sir, I delivered Jimmy John's. [laughter] for like 4 years. Excuse me. Excuse me. You've you've. eaten quite a lot of burgers. So, you do. have experience with with the place. But, managing a business like that, you. don't have the experience. Relying on.

other people, and you're fronting all. the You're taking all the risk on this. Yes. Absolutely. If you were taking all the risk, don't. do a franchise. You can come up with. your own thing, own 100% of it. You. could be the franchise. a burger as good as them though. I would I would beg to differ. The reason I'm attached to them is cuz I. think they have an amazing product and. process. I don't personally I don't see it. And I. don't think you should be fronting that. amount of money. That's that's a lot of. money you're just that you're taking on. 100% of the risk. The owner of burger is getting all the. benefit because now your name is. attached to burger automatically gives.

it a lot of credibility. He could easily. sell other franchises because he could. say well if Caleb Hammer did it then and. he's the money guy then it's a good. investment because if the money guy is. doing it. you should do it too. So it's automatic. for you. This is out of your out of your. risk zone. It's not only too high risk but you. don't have the finances to support it. You're 8 months in something and I think. you're getting ahead of yourself here. think you're right. It's like what I kind of did when I. started making more money on YouTube I.

thought of and I I heard someone else. say this. They based their income. spending. finances on like 3 years prior. And so I heard something like that and I. thought to myself would 3 years ago me. approve of this purchase? If 3 years ago me would say no, it's too. much money, it's stupid I I didn't do. it. Uh [clears throat] not until the point. where I thought 3 years ago me, okay, can afford it, it's reasonable, I'm not. making a stupid decision. If I need if. if things you know, if I need to sell. it, I could sell it get my money back.

This is this is a huge liability and 3. years ago you would never have done this. investment based on based on 8 months of. income doing well on YouTube. You also. have to consider what happens in that 5. to 7 year lease if something happens to. YouTube and then burger's not doing well. for whatever reason. Maybe it's just a. bad location. Maybe maybe just people. aren't jiving with it. Realistically it's probably just going. to be more money than you expect. It's. going to be a higher rent than you. expect, higher employee turnover,

training employees is critical. that's what the operator's for. Of course, but even with a great. operator, you're still going to have a. very high employee turnover. That was. one of the things that I really disliked. about the franchise thing. You know, I. almost uh franchised it was um uh uh uh. one of those frozen yogurt places. Almost [snorts] did that and that was. 2013. or 2014. I I went between that and. getting a rental property. And I liked. the frozen yogurt franchise because I. thought, "Wow, I could make 25%.

on my money versus a rental property. that at best is going to be doing about. 8 to 9%." So, why wouldn't I take the. 30%? I ended up taking the rental property. I'm so glad I did. My friend did the. frozen yogurt franchise. Horrible. Now, unfortunately, a lot of. this was not due to him, but employee. turnover. He was there every day because. if your employees aren't there opening. at 9:00 a.m., they'll call you at 8:35.

Oh, yeah. Place has to open at 9:00 because it's a. franchise. What do you do? Uh sorry, I. can't make it. Just not feeling well. today. Yeah, you could let that person. go, but you still have to be there. physically to open up the store. He was. there like 7 days a week from open to. close. And sometimes you'd be there at. open, have employees during the day, and. then employees would leave early. Say, "I got to go, something came up.". And he would have to go there to close. the store. Holidays, too. COVID ruined. ruined him. And the franchise requested. that he stay open during a lot of the.

days that Los Angeles was for the most. part shut down. So, he would remain open. even though like only a few people would. come in and he said that it cost more to. stay open than it would be just to close. and pay all the rent and pay all pay all. the overhead. Like, it would cost him. money. So, so like I hear all of these. stories and I think for a franchise, it's not worth the headache. And you're not at the point if you had. let's just say 20 million bucks, consistent income of 50,000, 70,000. dollars a month, and you say, "I love. this burger place. This is a hobby of.

mine. I could write this off to zero. I. don't care. I just want to support the. owner." Consider this then like a gift. to the owner. You're like, "I like this. guy. I like the food. I'm going to throw. some money and see what happens." Write. it off as zero cuz I see this is like a. startup investment. Like if you were to. invest in a startup with a one in a. hundred chance of ever making it. That's. essentially what this is. They have a proven model though. And if. it's successful. They have one They have one store. They. don't have a There's no franchise. There's no proven model. They have one. store that's successful.

has proven itself and if it's. That's that's that's not a franchise. though. You want a franchise and you're. like, "No, one store has done well. That. doesn't mean it's repeatable." I've also. seen one-off stores do well. They try to. repeat it in another location. Doesn't. do as well for whatever reason. Same metro area though. Yeah. Doesn't matter. What would you think about a lower cost. food truck which is very popular? Food. truck courts are huge here and that. would probably be half or a third. you want to do all these things? Okay, so the well, the question you. asked me man. The question you asked me. is a big question. What if the YouTube.

income dries up? But it's not. Well, we don't know. We don't know. focusing on all these other things. You're focusing on all these other. maybes and what ifs. income dries up, that's where I want you. drying up right now. Not right now, but you would want. something in place though and that's. where my idea of buying a side business. Eventually. Eventually, but here's the. thing. If YouTube dries up, you. definitely don't want to be tied to a. franchise that's a a coin flip of being. successful or not. You don't want to be tied down. For.

instance, huh? lack the. There the franchise that I wanted to do. was was the best. product that I've had in that category. The best by far. I love it and I still. eat there. I still decided against it. You've clearly been very successful in. the YouTube game. You have a substantial. making of piles of money and things like. that. So, my philosophy always is. if people know more than you, lean on. them. So,

I will take your advice on the. franchise. I I appreciate that. I think Here's the. way I see it. You have something very. good going on. I would take all of your. resources, all of your mental energy, double down on the channel. Here's my. fear with your channel. It's It's a. really really really good concept. Mhm. There will be a point that people are. going to disagree with me from what I've. seen across everybody. There's going to. be a point eventually where it gets a. bit stale, where people are just. familiar with it, they could predict it.

Yes, every story is going to be. different. Yeah. But when you look at someone even even. like a Dave Ramsey audience, every story is a bit different, but he's. got his core audience there. And the odd. video does, you know, great views. You've built something [snorts] really. special. It's very unique. No one could. be you. And I'm here in this chair, and. I I can't be anywhere close to what. you're doing. I think you're going to notice other. people start to pop up with the same. format, the same sort of thing. They're. going to be different personalities. They're going to put their different.

spin on things. They pay for ads under my videos. Do they really? Yeah, they promote their videos under my. videos. Well, good. Well, you're getting paid. off that then. Oh. So, there you go. So, you're making a. little bit off that. But I'm just. saying, I think keeping this show. exciting, relevant, cutting-edge, and. entertaining for people to continue. coming back with different, you know, objectives. And you were telling me. about something you were doing with. someone on the show outside of the. office. I thought that was really cool.

Yeah, they know about it. It's a grocery. shopping trip. Okay, so yeah. So, I think stuff like. that is fantastic. I'd also like to see. you at some point maybe going and like. car shopping with someone who's, you. know, what needs to get a new car and. like you a. motorcycles. You going shopping with someone, clothes. sho- I don't know. You reeling back. people spending. I think stuff like that. could be entertaining. But I would. to H&M with Graham. Deal. [laughter]. Let's do it. I think stuff like that is. how you keep your business.

going well and continuing to expand. Because if you do the same thing and I'm. guilty of it. You do the same thing, eventually people will start to move on. because there's going to be more. competition. There's going to be. shows I want to do, actually. That's why. I've brought on the the two people over. there. So that I'm able to spend more focus on. the, you know, planning out some other. things we want to do. So when we get the. studio that we want to do, we want to. have different sets for different shows. we want to do cuz yeah, no, the show's. been successful and I think it's always. going to help people, but will it always.

do as well as it is now? No, probably. not. And I want to make sure that. there's, you know, other avenues that people can consume. things that they would want to consume. I think, realistically, the show will. continue to do well for a while cuz I. think it's a great format. It's exactly. what algorithms love, which is long-form. content that you could clip up. Stuff like that will do well on almost. every platform because you could take. the hour, post on YouTube, and then. release it everywhere else in their own.

algorithms and and have it do well. So I. think realistically, you've got years. ahead of you on this. I think as long as. you just. be a little bit cutting edge on this cuz. I think the format works right now. But. for how long? We don't know. Kind of. like you hit a gold mine and you don't. know how long that vein of gold is there. for. Like you could run out in a year or. that vein of gold could be there for 50. years. Yeah. But it's like if you're mining for gold. and you've got the gold, why would you. say, "Well, yeah, the mine right might. run out at some point. So let me look.

over here.". You got it right in front of you. And. that And that's the thing that I'm. seeing is that you're very like here. here here here this idea this And I. think it's commendable that you want all. these income sources. Yeah. But it it pales. to rely on one. But it pales in comparison to what. you're doing with this. And 1 month of. what you're doing here could be a year, 2 years of income on something else that. will take your time away from I think. what's important, which is this. I'm nervous of focusing too much. financially from YouTube though. A lot. of money can be made. Oh, we you know,

we we get so many sponsor requests and. we turn down so many cuz they're just. absolute sh. We there's there's so much. There's more money to be made than we. can do, but I want the show to actually. focus on people's situations that are. more individual, unique, that help. people out there. Balancing that with. what we know could be a good cash grab. Like we put out that video with the. model. Uh I guess it when this video is. coming out a week before it. Um like. okay, we could replicate that every. single week if we wanted to and that. would just, you know, make double the.

money almost. But it's like I also want. to balance, you know, making it cuz. there's no point of this content if it. doesn't actually help people cuz that is. like the goal in the end, right? Yeah. So, I don't I don't know. Agree. I'm a little nervous of being too money. focused with the YouTube channel. I don't think you have to be money. focused. I would be more creatively. focused. I'm just saying money-wise. you've got everything you need right. here. This should be your focus, everything here. Your time should be. spent being in front of the camera, strategizing, and being creative. You're going to get 10 times higher.

return doing that than you will doing a. franchise, buying another rental. property. There there are fantastic investment. opportunities out there as well, but I'm. worried I don't want to see that. distracting you from what I think This. is so unique. You've got something here. and I wouldn't spread your time out. anywhere else other than what's. important, which is this. All right, that makes sense. I want to. do it. Good. Do I have your word on that? I don't know. I don't I don't think I. do. I I think you're going to say that. No, no, no.

but. Because I but because I was telling you. rent original I'm like, dude, I'd rent. right now. [clears throat]. You know, values are a little sticky, mortgages I don't know. And you didn't do it. Well, here's my thing. I'm 90% sure I'm. not going to do it from this. conversation. I just I'm getting access. to a deep dive on their numbers in a few. days and I just like what if all of a. sudden there's this. I I hope you take that 90% into. consideration. Oh, I 100%. I 90% am. Yeah. I I wouldn't do it. Based on this. if you were 5 years from now and you say.

I could light this on fire, wouldn't. even notice if it's gone and this is a. hobby, then do it. But I don't think. you're at that point yet based on what. I've seen so far. I'll buy another property then. Yeah. You can probably buy another. I'm only doing them in cash right now. Cuz of the rates and I can get good. deals on them. That one I was just telling you about, that's one of them considering, so maybe. that's the move. tough for me because I see well you're. getting good returns. But where I'm. looking, like a lot of Las Vegas. recently, the returns that I'm seeing.

unfortunately are the same returns that. I could get locked in with the treasury. for zero work whatsoever. That's cuz you don't like doing. multi-state. You know, you don't like. doing far away, right? Not really. No. You're local, man. I I like investing where I could see. because when you drive by certain areas, you could just see. It's like that's. going to go up in value. Just you see. all the development around. You could. see like people are moving in one. direction or another. Like personally. I'm just going to say the Arts District. of Las Vegas. It's an area right by.

downtown. It kind of looks a little weird when you. go in and like a lot of dilapidated. buildings, but you get into these. pockets of just like really cool. hipster-looking. techy people. And it's like a hub now. So like I see. that and I would never have noticed. unless you're just there and you're. familiar with what's going on. So that's. why I like to invest where where I see. where I live. It is my hometown and I lived in that. area for a while. So I think that's the. only reason why I feel comfortable with. it cuz I guess it would be harder if. I've I've been there. Yeah.

Would you say that when it comes to your. spending you have any. uh issues. or anything that would stand out in. this? Well, let's see. Uh obviously I invest a lot of money. Uh. so I mean payroll is high, but I like. payroll being high. I like them making. money. Uh and both of them make over six. figures, but reward good work with good. money. And obviously I'm making great. money, so I'm not going to pay less for. that. But payroll's high. Uh and then. paying, you know, travel compensations. for people that come here and we're. always continuing to update it as well.

I have to say by the way, you had us. picked up at the airport with a Lincoln. Navigator. It's It's excessive. I I. It is. Only for you. I think for your guests you could wow. them if they're flying in to come on the. show, but not for Jack and I. Like we. would have been happy with an. [laughter]. Uber. Like I thought it was too I. thought it was too much. Every once in a while I'll have a little. bougie moment, and that was my little. bougie moment uh for you guys cuz I've. been a big fan forever. And Jack's been. here. I love Jack.

I just thought that and I would have. rather you would save the money. Well, plus also you guys haven't been. able to get my uh plane. Yeah. Cuz. True. So I'm like, all right, you know, treat. them a little. Well, Are we going to be able to get over Have. you talked about that? We should talk about it. Do you want to talk about it? Oh, I'll talk about anything. If you. want to save that for yours or mine, that's. We could talk about it on both. Okay. Uh on the Iced Coffee Hour by the way, if you want to see the full interview on. this. But uh afraid of airplanes.

You don't want to get on a plane. No, it's not fear of airplanes. It's a. panic disorder, not being in control. So. when you're on an airplane or in an area. where I just can't get to my like escape. place, it's just like it's an. overwhelming phobia that I've allowed to. build over the years. And since I've. allowed it to build, it just gets worse. and worse and worse. I just get anxious. when I'm in situations I can't control. I can't land the plane if I'm having a. terrible panic attack. So it's not even. like, well, I am I thought maybe I'd. have one today cuz I was just nervous. about this whole situation. So I was. nervous about being nervous, but it. didn't happen. Maybe it wouldn't happen. on a plane. But, the phobia of me being.

so afraid of getting stuck in a place. and having a panic attack is so extreme. that I'm missing out on so many aspects. of life that I could experience right. now. So, it seems like you're afraid of being. afraid. Yes. in an area where you can't escape. And it's developed a true phobia. It's. not. of the fear. Yeah, it's not like just fear itself. It's like a true mental barrier that is. in like I cannot get over the wall and I. don't know how to. Is it a fear of like the plane crashing?

No, I don't give a about or the. flights. I've been on a plane. I've gone. to Paris. Yeah. a long time ago. So, what is it about being able to. escape? Cuz I'm terrified of the plane. crashing. Yeah. Like that's my biggest. fear. Which, by the way, TikTok knows. for some reason. I got like recommended. one plane crash video. It started. recommending them. And then I've never. had a phobia of flying, ever. And now I. get nervous on flights because TikTok. started recommending these plane crash. videos. Well, we all know the statistics around. us. So, I mean, like I'm again, I'm not.

afraid of that. It's just being stuck. Like even I I prefer driving versus. having someone else driving. You know, that's just what I prefer. I prefer. I don't know. Well, it it's it's hard to explain, but. it's just the idea of not being in. control and being stuck in a situation. that you can't get out of when you have. that. You should start small. You should start. by you not driving. Oh, I'm fine with that now. I've gotten. better with that. Yeah. And we can take short flights. Flight to Vegas might be kind of nice. Sure. That's like 3 hours just stuck on. a thing. That's like me going to.

minutes. Okay. Very easy. I was thinking of doing like a flight to. Dallas. And then I could drive back. That's short. What's that? Like 30 minutes? Like an hour cuz it takes a while to. climb. Yeah. Do you meditate? It's difficult. Nah. That might help. Maybe. I mean, I think that would help in a situation. like that. I've tried it before. It. really calms you down. It makes you feel. relaxed. cuz of my tinnitus. I have tinnitus, too. You do? Yeah, I do. You know it's actually pronounced. tinnitus? No. Yeah, fun fact.

Oh, wow. Yeah, thanks NPR. No, I've had it my entire life. My. entire life. So it's silent for. It's always a ringing sound, no matter. what. with a box fan or noise machine? You're a madman. I couldn't. No, no. Recently we started to with uh. like the sounds of like crickets at. night, but I've never done that before. Hm. She's used to it. It's It becomes white. noise after a while. It's like a little. thing I don't even. Well, it just gets louder in silence. So. anytime I've done something similar to. meditation, when I'm in that silent mode. and all of a sudden it goes.

Then I'm like. and then all of a sudden that's all I. can think about. would help calm that down. Yeah. It's just about letting go. When you get. the intruth of intruth of I can't say. it. When you get the intruth of. intrusive It's intrusive. When you get. the intrusive thoughts uh. it teaches you how to let them go. And I. think being in that state, if you get. those same thoughts on an airplane, you'll know how to let them go. No, I want to. I very much want to. So. this is a step that I'm going to have to.

take somehow. Another step you could take is actually. getting a credit card that gives you. rewards besides the Carrot credit card. Yeah. There's a lot of things on the Carrot. credit card that I see they're getting. you nothing back. And they seem very. disorganized. You had sent all of your. like credit card statements to me. And. the one thing I couldn't understand is. which credit cards are for which because. it seems like besides the Amazon one. But there are other business credit. cards that will give you points back. Like at least if you're going to use. this card, spend it on things that get.

you points back. Because right now. you've spent $6,000 on this card and. gotten 271 points back, which is what? Like $3? I did not set up the categories. correctly. Remember when I said earlier. I like to finesse? Well, apparently I. like to finesse selectively. So I did. not I have not uh taken the time to. finesse business purchases. I mean. say. you say it's business Why a lot of Jimmy. John's? Well, so on long days of work, it's just. usually what like I'll get that for. dinner and then I'll get back to work. and stuff like that. So, it's just like.

stuff like that. Get it right after the. shoot then, eat it. Back to administrative. healthy? It depends what you get, but what I get, no. And mostly no. Why not transition to some healthier. foods? I I've done that many times. I just I. I'm a yo-yoer. I'm a yo-yo. And I've. yo-yoed all the way back up. So. But we could yo-yo back down. We can. Yeah. Well, but. unfortunately, with my yo-yo experience, then I yo-yo up. So, actually recently. recently Now, that's last month's.

statement. Recently, I have been a. little better. [snorts]. Uh Mr. But, of course, we all know that. doesn't count. That doesn't count for. people on my show, either. If you're. just doing a little better recently, you, you know? You're getting in. recent habits. It's like, all right. But, historically, I've demonstrated. that no, I eat poorly. Does it take up a. big percentage of the budget? Not even. close. But, that doesn't matter. It's. health-wise. Yeah. I think you would try. You would really benefit from Factor. Yes. Cook Unity, one of those meal delivery. services. Sign up for that. You'll pay a. little bit more. Actually, you know.

what? You're probably going to pay about. the same price per meal as you're. spending eating out, but you'll know. exactly what the calories are. It'll be. really fresh food. I would do that. Factor. They've been a sponsor twice on. this channel. No, no, they've been really good. And. then, all of a sudden, I was just I. forget to like. continue it or whatever. Like, I enjoyed. it, then I forget to continue it, then I. get my Jimmy John's, and it's just like, all right. I think you're at a point right now. where you got everything dialed in. Now, you could start focusing your time on. health. And I think eating better, I. think going to the gym, these things.

you'll perform better, and you're going. to make more money. Like, you have to. think what the ROI is if you being in. shape at like. the best physical condition that you. could be in. How much more money do you. think you'd be able to make from that? Plus, there's no point in making a lot. of money if I'm going to die of a heart. attack at 60. Exactly. And I will say objectively, I. have more energy when I go to the gym, I. sleep better, I feel better, I'm more. productive, and I'm able to think. sharper. If I take like a few weeks off, you feel like this fatigue that kind of. comes over you, a little bit lazier. And.

if you slack on that, you tend to slack. in other areas. So if you can get. yourself to the gym every day, eat. healthy every day, you're going to find. that other things also tend to fall in. place. I would try that, because you're. at a point where you could easily afford. it. It's not going to cost you anything. Yeah. And I think the time commitment, given. that you're thinking about doing. franchises, all this other stuff, you. could just as easily spend 30 minutes a. day either getting walking in, get a. treadmill, doing some weights, just. light stuff. It's my addiction for sure. It's my If I.

have an addiction, it's the fat greasy. sweets. You know, and anything in those. categories. This is once I get in those. modes, and then I just continue down it, and it's just like I just like go Like. I'll like eat a little breakfast, then. I'll eat nothing all day, and then I'll. just gorge in it in a single meal. It's. really bad. Uh. yeah. So I'll probably title this. episode fat pieces to uh stop eating. out. Gets financially destroyed. [laughter]. Yeah. More more fast food than anyone should. ever have. That's [laughter] true.

I'm the same way. I like to have one big. meal, like ideally if I could not eat. the entire day, and then have one like. all you can eat thing like. intermediate. Is that what it is? I I try to skip breakfast, have a. [clears throat] small snack for lunch, and then not eat until dinner. And then. I like a big dinner. Yeah. But if you overeat in that dinner, it. kind of makes everything else, you know, worthless. So. Like me shoving a bunch of burgers down. your throat immediately when you show. up. But it makes me feel lethargic after. Like I was really nervous about eating.

before doing this, because I'm not going. to have as much energy. I made you a double shot, so. Yeah, but even if it affects me 5%, how. better could this have episode been if I. were 5% better just being a little bit. more perky? And that's the way I think. of it. And what's that 5% worth? $100, $200, and then all of a sudden is. that meal worth $200? Probably not. For. waiting a little bit. So, I see things. in in terms of dollars like that. So, we. got Fidelity almost 300 grand in. Fidelity. And I looked through that by. the way. $500,000 in Fidelity?

475. Congratulations. Thank you. So, this was end of last. month. This is the last time I did a. checkup. a checkup. Congratulations. And they're. reasonable investments I saw. Like it it. wasn't anything crazy. It's just like. the S&P, a good globally diversified. fund. I I can't fault you on that. See, I. think that's a good use of cash. long-term. Over the next 30 years, I could see you doing quite well on that. and just dollar cost averaging. regardless. You just don't pay. attention. Just don't look at it for 30. years. I think it's is good.

70% S&P, 30% Nasdaq. That's my current. go. What about international? Have you. thought about doing any international? Just the I. Every time I look at any. any funds related to it, it's their. historical returns are just. bad. Yeah. Yeah, but I I know I'm I know. So, what what I've seen with. international so far, and I've just done. the basic of research is that it's very. cyclical and that the international is. good for balancing out your portfolio. So, that when the US is not doing so.

well, the international's probably. buffering that a bit. So, you're not. going to see the high highs, but you're. not going to see quite the low lows. Yes, it's underperformed, but it's been. pretty stable even though it hasn't gone. up a ton. So, I know it's tough to look. back last you know, 10 years and see, "Oh, it's only made. 4%, but the S&P is up. 70%.". Right. I know that's tough. But, you also have. to consider the dividends are a little. bit higher in that. And it's been pretty. stable. And you never know what might.

happen. So, I think a small allocation. that not investment advice, but. uh it's just something to consider. Uh it's interesting though. It It's good. you're trying out a whole bunch of. different platforms here. I like Acorns. a lot. Acorns is great. I've been using it for years. Yeah, link in the description below get. your free $5. Yeah, they're good. Moomoo, $5,000 in. Moomoo, what do you think of them? So, Moomoo's really good. Um so, I do a. little bit of single stock type stuff in. uh in Robinhood and I'm considering.

switching over to Moomoo. Um and we're. we're talking partnership with them. right now, but I again, I don't do any. partnerships until I can fully test it. out. And what I'm getting from them. versus Robinhood is this a more. developed platform for. individual stocks and I'm really liking. it. Um. there's a lot more research I need to do. before fully switching over to them, but. I threw $5,000 in there to give it a. test. All I did was buy some QQQ. Cool. So, but no, pretty cool.

And what do you think between Moomoo and. Webull? I've never used Webull. Have you really? No. They're like the OGs. Yeah. No, and for single stocks I've just been. Robinhood. Interesting. Try Webull. Okay. Give that a shot. Just to test it out. Webull's pretty advanced with a lot of. the things that they offer, but it just. might be worth it. I like to try every. platform I can. I just just to give it a. shot, see what you think of it and then. that way if someone ever asks, "Hey, what do you think of this platform?". You've tried it out. You've used it. So, student loans, $37,313.

Is that deferred? Uh deferred until well, until right now. Yeah. Okay. Yeah, it started again. And what's the plan on that? Well, they're at 4%, so. minimum monthly payments until they're. paid off. I I feel like it's a not a waste, but. Yeah. kind of of $37,000. just stored there if I'm going to get. average 10. whatever with dividends. reinvested in the S&P 500 on average. So, it's just like I'll. the check that comes in this month, I. could wipe that, but I also would rather.

just throw it to S&P 500. Is that tax deductible the interest on. that? Uh depends on your income levels. So, I'm guessing for you it's not tax. deductible. it wasn't, so. Part of I Listen, I know on a rental. property you're going to arbitrage the. difference, but. wouldn't this be nice just to wipe out? Because you're making. be, but. 4 and 1/2% at SoFi. After tax, you're taking home let's say. let's just call it three something. that's in SoFi I'm not it's not.

necessarily in there to make 4.5%. The stuff in SoFi I'm not it's not. necessarily in there to make 4.5%. It's. in there for taxes. You're opportunity. It's in there for taxes. Oh. to pay those taxes, and it's not enough. for. doing quarterly tax payments? No, annual. This is the last year I can. do it without a penalty or the cuz it's. my first full year. Yeah. Uh and then next year I'm going to try. and uh. Well, you [snorts] actually had a really. interesting I don't remember where I. heard it, but I remember you at one. point saying you did annual because. whatever uh negative penalties you get. you're well making up for via the money.

that you're putting in and. Yeah, not. not anymore. Not anymore? Not anymore. So, that was a thing in the. past when the market was doing as well. as it was. Yeah. This year's been great though. Yes, but also the penalty back then was. not as much as it is now. So, the. interest rates have gone up and yeah, so. the amounts that you owe I think it used. to be like 2 to 3% and now I think don't. quote me on this. I think it's like 5 or. 6%. around three. Okay, well, kill me. Well, that's next year's problem anyway. I.

don't know. two three years ago I did a whole thing. with my accountant and we did the. determination of where the money was. going, where it was invested, and it was. an amount that I said I'll pay the. penalty on it. It makes sense. I'm going. to invest the difference. And that was. at a time too where I was sinking almost. all my money into rental properties. I. was fixing them up. I was renting them. out. I I really active with my money. [snorts]. And then interest rates started going. up, did the math on it, and I determined. it was a big waste of money not to do. the payment. So now So I've been doing.

the estimated quarterly tax payments for. I almost 2 years or about a year, year. and a half give or take. Started doing. that. Okay. It's It's good and bad. It It's bad. seeing such a big amount coming out of. the account, but it is nice at the end. of the year you do your taxes and maybe. you don't owe anything. And that was. actually quite freeing because in my. mind I was always saving a big chunk of. of cash just knowing ah this is coming. up, I got to prepare for this. It was. nice doing my taxes this last year and.

knowing it's already paid. Yeah. Like really close to what the actual. amount was. So it was nice that it was. out of sight, out of mind. Okay. No, that's great. Just I did find. a great CPA through. a really successful business person. here. So I haven't used them yet, but. that is a conversation that happened. very quickly. Yeah. Yes. So. But the student loans, so you'd pay them. off? I probably would. Because I think. financially. [snorts].

yes, you could arbitrage your money and. you could make the, you know, 8% while. you're paying out four. So you're talking emotionally. Yeah. So it would emotionally weigh on you. So that's interesting. I think I I. always try to do a situation to. situation. If it emotionally weighs on. someone and it's a low rate, then I'm. like do it. That I feel nothing with it. existing, nothing. Nothing. a hypocrite because I still have my. Tesla Model 3 loan that I took out at. But it was at like 3.something percent, but I could deduct that cuz I just I use. that car just for driving around, you.

know, for for business. Um If I ever do get a new car, I think I. want a. Tesla. Tesla's a fantastic car to buy. Mostly cuz of the self-driving. And the. Tesla. It's It's barely even functional. Their. self-driving is It's It's Their. self-driving is atrocious. Full self-driving, I heard it was good. I've watched reviews. I've I've done it. I have the full. self-driving beta. I I I stopped using. it. It's a novelty. It's a novelty to do. it once be like, "Hey, look at this. Look at this. It's turn." I am so. nervous behind the wheel of this thing. driving.

If if you're on the highway and you're. and you're just doing the basic lane. thing where it could, you know, go. around other cars and whatnot. Even. that's terrifying cuz you get phantom. braking where you're going on the. highway going 75. It just the brakes. slam on it. You you have to hope no. one's behind. But think I put on the self-driving then. I can be doing swipes on hinge. And we'll talk about that. While I'm driving. Yeah, it's probably not the best idea. I. I don't trust Elon Musk and Tesla to. drive me in a car. That's fair enough. Well, if that's not. the case then then I will stick with my.

2019 Jeep Cherokee until it dies. I think that I think the Jeep I think. the Jeep is a fantastic car. Um you. wouldn't qualify for the tax subsidies. of the Model 3. You would be able to. write off the full cost of a Tesla Model. X because of how much it weighs. are ridiculously expensive still. the price a ton. Yeah, oh yeah, they. lowered them like $20,000. Even the. plaid, the Model X plaid, I think it. used to be like 130 and now it's like. 100. I mean, they lowered the the price. of these cars by a lot. So also, I never try to find things at.

the dip and that's when I buy. But this. is like the one time if I'm going to get. a Tesla, oh my goodness, every single. month they're getting cut in price. I feel like I'm going to buy the next. one is going to be $10,000 less. I I would personally keep the Jeep for. as long as you can. Oh yeah, that's my plan. So. I I'm not a car person. I don't give a. about cars. Yeah, I just like the. self-driving. student loans, I just think how much. you're bringing in every month, how. small this is relative to that. And I. just think for the ease of just knocking. it out and being done with it, it would. not make that big of a financial.

difference. That's how I see it. You. could arbitrage it and financially. you're probably better off arbitraging. it. But when we're talking about what. the real difference of that is, even if. it's like a thousand dollars, two grand. of arbitrage over the you know the. lifetime is that really worth it? Maybe. it is. I think it's just easy to to but but. either way it's like you're still coming. out ahead. It doesn't matter. Like a lot of these things are trivial. in the big picture. consider that. I and before this. conversation I wouldn't have even. considered it but you know I'm I want to.

come into this as open-minded as. possible. So I will definitely um. highly consider that. Yeah, it's difficult for me because we. could go through all of your expenses. and none of it would matter. I mean you. could literally take 20 grand and light. it on fire and be like that's my. entertainment tonight. That's so weird to me. I've not mentally. gone there but you know. That's That's why I think you should. really play it conservative, play it. very safe until it's really sunk in. You. get years of that income under your belt. and then could then at that point you. could really readjust to it and figure.

out how you want to deploy it. Like that. three years thing just base it off three. years ago you. How would you feel about. that? Three years from now maybe you could. make those those franchise. Yeah. payments. All right. Well, that's fair. So just something to consider. Um. I did have $50,000 in Robinhood. On the talk of investment. What's that in? I don't know. They're in They're. individual stocks. I mean I I think it's fine. Okay. So when I'm looking through a lot of. your accounts it really does seem.

disorganized. Like you put some random. expenses over here. You got a city. double cash card that you put other. expenses on. There's really nothing. cohesive that I could tell on this and. it seems like a jumbled mess. Organization is definitely one of my uh. not best skills to develop. So I. actually still have quite a few business. expenses still reoccurring on a lot of. those personal cards that I haven't. moved over once I formed the LLC. So no, you're right. It's a It's a messy. situation that literally what I need to. take a weekend and just figure out. Yes. I think I would spend the time to.

do that because from what I've seen. there are probably a ton of random. recurring expenses in here that you just. don't need. And I was guilty of this for. a while. It took me. years to truly go through some of the. old credit card statements and look. through them and think, "I'm not using. this. When's the last time I use this. product?" Some of these were charging. like $100 a month. And I'm looking at. this thinking, "We haven't used this in. over 2 years. Why am I still paying for. this?" "Well, just in case." Well, let's. cancel it. "We need to sign up again, we. will.". Yeah.

Um and I've canceled so much. I've saved. hundreds of dollars a month just going. through some of these. I bet you could. easily do that and save money. Yeah. Um. There's a lot of uh I've noticed, by the. way, you're spending money on Disney. Plus. Yes. Um also, you. Yeah, you did Disney Plus, you did uh. Netflix and YouTube TV. There's no way. you could possibly watch that much. Uh no, I mean, it's all in my background. stuff. YouTube TV right now is for. college football on Saturdays. Uh and. then MasterChef every once in a while. Uh that's really all I use YouTube TV.

for. Uh Netflix, there's Netflix these. days. I could cancel it. I literally. just started that cuz I couldn't be on. my parents anymore cuz I cut, you know, Netflix got all strict. Uh so, I just. restarted it. Actually, I've been. rewatching Seinfeld. But once I finish. Seinfeld, I'll probably finish. All right, good, good. So, you have an. end date on that. And then, which credit. card do you charge Hinge to? Uh. What's that? How much is that? Uh. it's Apple bills. That might just go to. my debit. Debit card? It might just go to my debit.

Okay. And how's that going? Uh well, I get a couple matches here and. there. Yeah. Lovely people. And then, uh. And what credit card do you put that on? Conversations. Yeah, your matches, your dinner dates. doesn't Oh, no, what I was going to say. is I get some matches, but then. conversations just die so quickly. I got. to try to keep engaged, and I send the. last message, and then people just don't. message back. I don't know. It sounds like you're sending bad. messages. Maybe I'm sending bad messages. what it is. my my to review my profile and stuff.

Can I Can I see it? Yeah. Go for it. Okay. It's going to be embarrassing. All. right, let's uh. Let's look Let's Let's go. To me, it sounds like you're sending. really bad messages. Or boring messages or messages that are. just not engaging. I'm not verifying. First, you can see my. profile, and then you can just go. wherever you want there. All right, here we go. Uh I So, this is your main picture? I. hate it. It's fun. No, there's two people in the photo with. a banana. They have no idea which one. you are. They can't even see your face.

Isn't the rule though. Isn't the rule when you have a first. picture with a couple people, the second. picture has to only be you, though? No, I would say the first picture has to. be you. Just a good photo of you. Graham, when's the last time you've had. to be out there and try to get a date? You have a fiance, sir. I don't know. It's been a while, but you. know what? I don't think these change. I. I think it's been the same thing for. hundreds of years. It's just like people. want to see a good photo of just you, not you with a friend and a banana. I. have no idea what I'm looking at here.

So, that's so like strike one on that. one. Uh choose our first date. I thought. it said put out. [laughter]. It says putt putt. I love putt putt. It looks like put out, doesn't it? It does. I love putt putt. Coffee, dinner and a walk. Okay, special. talent of mine. Can I Can I click that? My. special talent of mine is being able to. do a Morgan Freeman impression in. British. That's It's like this.

[clears throat]. Hello, I'm Morgan Freeman. What is that? I thought it was funny. It doesn't [laughter] sound anything. like him. No, it doesn't. That's the joke, though. [gasps]. I've We I saw it on someone else's. Hinge. I stole it and. [laughter]. Did that work for that person or no? We thought it was very funny. When we were reviewing that person's. Hinge, yeah. Every once in a while, our friend, she. will put Hinge on the TV and will rate. her profiles that she swipes on and. And she And she swiped on that.

I think so. I think that pushed her over. the edge. But maybe we just find weird. things funny. All right. Two truths and a lie. I have. three British friends. I accidentally. bought a house. Well, we know that one. Uh S on the Beach is the best drink ever. made. Uh. I have three British friends. Is that Is. that the lie? Yeah, cuz I guess I have two, but I. don't think that's true anymore cuz I'm. friends with their other sister. So, I. guess they're all [laughter] truths. They're all truths. Now, at one. Yeah. Okay. but. All right. Content creator at YouTube. and TikTok. I would get rid of that. I.

don't know if I'd lead in with the. content creator aspect. Um okay. I I mean I Yeah, I don't want. to push it, but. Life partner uh I guess where this photo. was taken. Okay. Alter ego. [sighs]. Uh See, the other photos are good. You. need a better photo than that. [snorts]. I'm bad. way better photo. I don't have pictures of me. the you know the thing is that I think. you should put on here is some of the. Ukraine stuff. I think that's. Really. Really. I think it's very. unique. Okay. It shows that you could take care of.

something. I think. shop. And then And that's important. All right. So, where do Where do you go. to messages? Messages here. So, give me. an example of uh. Okay. Let's find one. Let's see. Let's. see. No, she never responded. Let me see. Trying to find out. I don't know. I'd. like to find out. You're braver than you look then. There's nothing she could say to that. Well, what did I say? She says, "You're braver than you look.". You respond back, "What can I say? I.

enjoy some risk.". How do you respond? Franchising. [laughter]. Text her that. I'm about to do a. franchise. All or nothing. Yeah. From my perspective, there's She could. see that message and think, "It's too. much effort for me to try to think of a. witty thing to say to that" or something. fun when you've given her nothing to go. off of at all. another one. So, that one and when she has like 50. people messaging her, that one just. seems like you just kind of ended the. conversation. So that's that's why on. that one.

We're the same type if you drink pickle. juice out of a jar. Have you ever been the first to the. pickle food truck on S first? That was my message I sent to her. To. match, yeah. Okay. No, that sounds amazing. Seriously, it's so good. Maybe a fun. idea for a first date. Way too forward. I'm a forward mother. No. She knows nothing about you. Your. first All she knows is that. you're into pickles. She has nothing to go off of. Your. profile is is mid at best. And you asked.

her on a date before she even knows you. at all. Before she's able to kind of get. a grasp of who you are. There should be. some sort of banter going on in the. beginning. Like just something that. peaks her curiosity other than Have you. been the first to a pickle truck? That's. the reason why. One more. All right. Now, we'll leave it there. We'll leave. it there. Oh, no. Come on. We need one more. Just. a third one. Uh she started You should not go out. with me if I if I'm an Ohio State fan. I. do not like Ohio State cuz I'm from.

Michigan, so. Never be an Ohio State. Okay. I don't. know if that's a good first message, but. responded to her prompt though. Okay. They're seriously the worst. They're so. gross. I'm glad. there's not as many down here. I didn't. go to University of Michigan, but but as. a Michigander, ew. Yeah, they're gross. And then you sent the double text. I'm a double texter. I'm a triple. texter. I'm a I'm a mountain sand full. stream. All right. guns a blazing and texter. How's your weekend going so far? My. friend's parents' house, okay. Oh, no, that's terrible. My weekend was pretty.

good. Very light conversation. Okay. So you went from you Okay, so good. conversation, but there's nothing that I. see here that's like. It seems more like a friendly. conversation kind of back and like pen. pals. No. Um this is good. How long have you been. in Texas? I've been here for 5 years, but yeah, very hot. Still much prefer winters up. there. Fair enough. That's really cool. What brings you on here? What do you. mean what brings you on here? She's. single. But. How she She's single.

Mhm. What brings you on here? That that's a. dumb. That's a dumb question. What brings you. on here? Oh, I bored at Tik Tok. No, she she she. wants to She wants to meet someone. Like. Yeah, but you don't know how she's. diddling her dating. That's a that's a It's a lame question. So then you follow up again, another. double text. So like you're stacking. these points against you right now. So. you So this is your second second point. against you. Oh, no. Are you not interested? Sorry, and then put the lol. So it's like.

This is very embarrassing for me. But But you know what? This is how you. teach people with personal finance, and. this is how I will teach you not to send. these messages. the one with the fiance. I. So I am going to work on behalf of. everyone you've had on the show that you. have reamed into, and this is my one. chance where I could ream into you for. this cuz your finances that they're not. bad. They're decent relative to how much. you're doing. So you're fine. So this is. my my chance to shine here, okay? Shine away. You're just incredibly gorgeous, so I.

just No, come on. So. So I'm gorgeous. Are you not interested? You're just so. gorgeous, so I just No, you When you. Come on. me. This is terrible. Right? That's how she's That's what. she's thinking. No, this is my my whole life. Cuz now if she responds, now she's got. Oh, I'm so sorry I did this, and she's. going to BS the excuse. She's going to. throw just crap your way. Oh, he said. I'm gorgeous. Okay, let me not turn him. down. It then it's awkward. You're. basically putting her up on a ped She's.

so gorgeous. Are you not interested? You're the She Like you're the one now. vying for her to pick you. Yeah. You're the one. Dude, you're Caleb. Hammer. You have the You have the world. at your. your. Okay. You can anybody you want. You should be. You should be the picker. I have the thickness. Thickness The. thickness gets last choices. You're the picker. Doesn't matter. You. are the one doing the picking. You're. Because you decide. You're the picker. Don't argue with it. You are the picker. No, from now on from now on you are the.

picker. Yes. You got to be the buyer, not the. seller. The seller is the one trying to Here's. Here's what I have to offer. Here's. this. Here's that. Buy me. No. You're. the one doing the buying. What's been fun is I've been trying to. ask people in like, you know, out in the. life a little more. Good. Uh which is cuz I mean that's like the. classical way, but it's a little harder. and I think people are a little more. barriers now to that cuz, you know, it. is all like online dating now. Mostly rejections. It's good.

It's fine. It doesn't It doesn't matter. couple numbers, couple Instagrams. It doesn't matter. You You just need one. good one. My friend streamer friend Kimmy. uh. forced me, coaxed me into putting a. story on my Instagram saying, "Hey, Oh, the dating scene. I got to go to. And there were there was. a dinner uh and I would have liked a. date uh a date and if anyone wants to. go, let me know." Yeah, so you saw it? Yeah, how'd it go? I was curious about. that. I don't know. It was. I There was a couple people who reached. out, but I felt kind of weird cuz again.

they're from the audience, probably. And. it's like I don't want to like, you. know, is that a positional thing? Like cuz. I don't know. never think of it to be and it now it. seems like that's the topic of Oh, you're in a power you know, a position. But what about like an ath- What does. that mean an athlete can't date a fan? Like from my perspective it seems like. it would be like you and another person. are on the same wavelength. If they're. into watching personal finance videos on. YouTube, that's such a small category.

It's such a narrow focus of the type of. person who's into that. Chances are. you're going to get along very well with. the type of person who's watching an. hour-long financial audit. I just don't want to make a simple. mistake like that cuz it's very easy. boom and then cancellation cuz and not. that not that you know a lot of this. stuff isn't warranted for people who've. done bad things, but still it's like. okay, what if that is abusing a position. of power that I just wasn't aware of. thinking is where does that end? I don't. know. But let's say if if you're a. professional baseball player and you're.

out in the street and someone's a big. fan, does that mean you can't date that. person because because you're in a. position of power like you know, I think. it could be different if you're in a. power of authority in the terms of like. a career. Yeah, and a workplace thing. because then there's that added pressure. of I don't want to lose my job. I have. payments to make. I have obligations and. if and if I lose this career, how will. this affect me? I could see that a. little bit more than like, "Hey, I'm a. fan of your channel. I'm into personal. finance. cuz that I think you'll find someone. with a similar mindset as you. They're.

into personal finance, they're into. business, they're into bettering. themselves, they're into YouTube. But my point with this message, she shot. you down very politely. I've not been. checking the Sorry, I've not been. checking the app consistently. I joined. because I moved here not know anyone and. it seems like a good way to go out and. explore Austin, meet new people, and see. if a relationship comes from it. I do. have a lot of traveling for work coming. up. So to be honest, I'm taking a step. back from Hinge dates for a bit. That's. her saying not interested. Not.

interested. But listen, if Leonardo. DiCaprio were her match, she she'd be. there in a second. Uh. No, you're okay. So then. being like, "Oh, you're fine.". "When did you move here? Would you like. to try to get dinner or coffee before. you start the traveling?" See, this to. me seems like she just told you she's. not interested and then it's like. and then it was just like, "So let's go. out then.". So. I'm notoriously a bad texter. So that's my dating advice on that. Yeah. I I I it's a you just got to reframe.

And and you also have to think yeah now. that this video is out yeah. They're okay so my income is out there I. also don't want anyone to date me. because of that going to they're not. going to no. a lot of people have warned me of that. No. Okay. I've never experienced it and my income. has been out there for. a lot before. People always ask me what high yield. savings account do I use for my own. money some of you know by now it's sofi. I love them it's great for my checking. account needs it's great for my high.

yield savings account needs and right. now I'm getting 4.5% interest on my. money's I love that rate on my money's. so if you want to get a great rate like. that on your money's just check out the. link in the description below I have a. paid affiliate link there you can get. bonuses all the way up to $250 and I. took advantage of that and you should. too. I wouldn't say a lot. Is he a grandma player. But it was on there I mean it's it's not. a surprise at all. Is he a grandma out there on the streets. of LA just getting every woman. Not necessarily but people know what. they're getting into if if they know me.

from YouTube then they know I'm very. frugal I'm not the type of guy if they. want someone to spend a whole bunch of. money I I just that's not me. But they know they don't have to work or. worry about things in general. That's assuming it would even get to. that point and that's even a. conversation to begin with but you're. thinking so far down the line. No you're right. That no I I think you could generally. sense if someone's out for the money. And if they have a genuine interest in. you. I've never experienced it.

That's good. Ever. So that and then the position of power. have been my main worries and that. second one that's just a new thing. because you know this has only been a. recent thing and to me I'm I I feel like. the exact same person but all of a. sudden there's an audience now so it's. like navigating that. does that mean you can't date people. because you're on YouTube. That's what that's what I don't know. to everybody as soon as soon as they. find out now what you do and they say oh. wow you know whether that be impressive. to them. It's almost an impossible thing to. navigate cuz no one has the. I just think be courteous.

Yeah. Just be nice. Um. social awareness I think is just a a big. thing. I I think that's it. Common sense. Fine, I'm starting a dating email that. [laughter] everyone in the audience can. reach out to. I would just do that. Put put the email, [laughter]. hingedditcalebhammer.com. Dude, you don't need any of that. I'd. meet people in person. I want to be honest. I would love a lovely someone to. eventually share with. Eventually.

Now Now you Now you're selling. Remember, you're being a seller again. Now Now you're saying this is what I. have to offer. Come pick me. You're right. You want to say, "I'm into this person. You know, this is who who, you know, I. want to be with.". [laughter]. Okay. Not Not, "Hey guys, So this is what my financial audit has. turned into. [laughter]. Doing a deep dive therapy session here, I think. Is there anything else that you. feel like is important to discuss cuz. I'm looking through these statements. Oh. I don't think you know this. Nobody.

knows this. Huh. I sold 10%. of my company. last Novem- October. of my YouTube channel. Really? Yeah. Cuz at that time it was making. like $10,000 a month. Uh I was starting. to do it full-time and then I got just. very anxious and nervous. Very anxious. and nervous. Uh sold 10% to another YouTuber. A. YouTuber you've met by the way, but you. just you guys never talked about it. Uh. Wow. So he just said, you know, uh he sees big potential in the channel. He wants to give me a lot of advice and.

I did get a lot of advice from him. So. it wasn't like completely unworth it, but obviously the return on investment. he has he's had has been fantastic. But. this is where you'll be happy. I put a. clause in there. One that was risky. against me and one that helped me avoid. risk. If the channel continued to do. well, I sold 10% for $25,000 at that. time. Again, it was just an anxiety move. It. was just was move. Uh. That's a. I notice a theme here of of impulsive. decisions. I had impulsive decisions. say that was more anxiety driven. Like.

Okay. Okay, I'm doing this full-time now. Like. I was nervous. Like what if things. turned down? Like this It's nice to have. $25,000 just in the business. But either. way, it was a bad move full out. Yeah. I. made it that okay, if the business is. successful and he's made a certain. amount on his business within the first. year, I can buy it back at $25,000. So, I can buy it this month at $25,000. instead of whatever that share is worth. That share is worth a lot more than. that. Yeah. Or if the business was unsuccessful, he.

could take the $25,000 back out of the. business. So, that would have been the. risk against me. Oh, so he was able to collect on his. investment. He's been getting 10% of the profits on. a monthly basis. Wow. Yeah, he's had a great return on. investment. And. uh you know, nothing against that. It. was 100% agreed upon. He He did help me. a lot especially at the beginning, you. know, understanding thumbnails and you. know, all just a lot of stuff and just. the work around YouTube and what should. be uh who I should hire first for a. full-time employee. A lot of that stuff. Cuz I didn't even have con- I didn't.

have connections to you or anyone at. that time. He was the only one who's was. in the space um that I had connections. to. So, Congratulations. Yeah. Did that work out. It well It worked out. I've obviously. going to I lost money on it, but it was. it happened. But if you needed that to get to where. you are today, you could look back at. that and say that got me in the right. headspace to be able to do the show at. its best and that leveraged I parlayed. that into where it is today. Yeah. Yeah. I mean, investing I assume you would. want more than 50. percent. Yeah. Um so, this how much is this going.

to be going down this 70 once you buy. that back? Is this going to be going. down? A good amount. What's uh let's see. Miscellaneous in here. So, miscellaneous. Well, this is also things like Adobe. Acrobat, which we use to blackout people. statements. Okay. You can see a lot of those there. And. then there's a lot of the payroll as. well. So, I do want to make sure that. the people who work with me and anyone. that comes out in the future, they are, you know, making good money. If I make. good money, I want them to make good. money. And if you're not making well, then. they're not going to do as well. Okay.

Uh. So, is it a tiered structure? Yes. Uh yeah. Okay. Uh a lot of it's based on channel. performance. I think as long as you keep it as a core. team, don't over expand, and uh you. know, maintain that and continue that. trajectory, I think you'll be fine on. that. Like producer and editor uh for what. we're doing on this show, I think it's. good. Then we have someone that helps on. a part-time basis just going through the. statements, blacking them out, and. building these spreadsheets for us cuz. it's just a lot of time. Uh but then. again, that's a part-time basis. And. then I have.

as of the last 2 months uh. put my thumbnails in someone's hand who. is like focused purely on the algorithm. I've noticed your thumbnails are. switching up a little bit. What you. should try is the YouTube thumbnail uh. trial tester. Have you seen that? Uh I've seen people doing it. I couldn't. find it in my time. They're slowly rolling it out. That's. why I have three different thumbnails. up. I think you need a cleaner. thumbnail, but I'm not sure because it. what you're doing is working quite well, but I think maybe something a little. cleaner might do even better. I'm not. sure though. I I I I mean, I yes, I agree. I would.

love to see examples cuz I just have a. hard time picturing it for whatever. reason. Yeah. I would like seeing you saving a. little bit more and investing because I. think that you got like uh usually. YouTube is like a 5-7 year career. assuming it does really well. 5-7? Oh. Assuming you do well. yeah. The best channels I've seen are. like two, three. No, the the best channels have a. lifespan 5-7. Very few crack 10. So, you know, I think if you if. have you been doing it? Be seven. Uh-oh. Yeah. I I I knew I knew getting Oh, yeah. Oh, I already know. It's like. YouTube is going to have an end at some.

point. So, that's why I've transitioned. a lot more into the podcast. Oh. I'm posting less on the main channel, more on the podcast, quality on the. podcast, getting different guests on. there. So, I that. Yeah. Wow. Yeah, we're going to film that. We got We got to film that. We've been. going for a long time there, Graham. hoping that kind of resets the timeline. so I could be like, "Okay, I got 7 years. over here, but only three on here.". No. So, I'm hoping three on here and now I. get another few years. Also a good podcast. You guys You I. mean, I I watch a lot of them. I mean,

some of them really pop off. So, it's. roll. We're on a roll. We're on a roll. You've been getting great guests. Yeah, I think the guest selection is. good and mixing that with shorts has. skyrocketed our growth. And today you're getting the best guest. on YouTube. I know. What a blessing for you. going to be coming off of Bobby Lee, Ben. Shapiro. You had Bobby Lee? Yeah, we had Bobby Lee. Oh, wow. Bet-David. So, we had those people and. we got Caleb Hammer. Was Bobby Lee all Bobby Lee'd in the. episode? Oh, that's cool. We'll talk about it on the Iced Coffee. Hour, but it was one of the most.

unexpected videos I've ever done. I came. in with a plan. and he wanted none of it. Nothing. Wait. Never mind. I don't know who Bobby. Lee is. You don't know who Bobby Lee is? I thought she I thought Bobby Lee was. the new podcaster girl that everyone's. calling a. Bobby Althoff. Is that the industry plant that. everyone's calling her one? Drake. Yeah. Never mind. I don't know who you're. talking about. Yeah, Bobby Lee, the comedian. Bobby. Lee. I need faces. I'm not a name person. I. don't do names. This guy. You've seen him. Guaranteed you've seen him. Oh, I WATCHED THAT EPISODE. That was a. great episode. Fantastic episode.

[laughter]. of finances. of money and just immediately like he's. he just said, "I'm not going to talk. about that.". that's my favorite episode you guys did. That or Liver King. One of those. Liver King. a great episode. Yeah. that. Okay. It was just very interesting and. different. Yeah, it was just very cool. I think people like seeing the different. guests and me outside of my comfort. zone, which is a lot more recently. I assume they didn't really get the. views, which is why you stopped, but I. really enjoyed the ones where it was. you, Graham, and Alex. You, Graham, and. Alex. You, Jack, and Alex. [laughter]. Yeah, we try to have a new guest on. every week. We've thrown those in.

midweeks, but it's just the core. audience really likes it, but it doesn't. It doesn't get the It does nothing for. growth. And when you post that off an. episode of like you get someone like Ben. Shapiro and then us three everyone that. subscribes for that looks at the next. one and they're like this is not what I. subscribed for click off unsubscribe and. then you don't build up that momentum so. kind of throws a wrench in it. Well, thank you so much. That is my. advice for you. Don't be stupid with. your money play it safe double down. I. think I'm what you're doing be creative.

here. And. get better with your [music] texting. game. So in terms of my overall score, I would. say that Caleb has an 8 out of 10 in. terms [music] of his spending. It. doesn't really matter in the big picture. because his income is so high, but I do. think there's a lot that could be. cleaned up and a lot that's going. [music] missing purely because he's not. really thinking much of it. We also [music] have debt which I would. probably give a one out of 10. Frankly, he could pay it off if he wants to he's. trying to leverage some of that. So I. give that a low score a 10 out of 10 in.

the emergency fund category is plenty of. [music] cash on hand. He could pay his. taxes with it. I'm a fan of that. His. retirement. I would give it a 9 out of. 10. I think he could save a little bit. [music] more. I'm sure he could optimize. some of his tax savings in this, but. it's not perfect. His house score. I. give a 7 out of 10. [music]. because I think it was a bit impulsive. The spending is a bit higher than where. I think it should be relative [music] to. where he could rent. So 7 out of 10. Dating however, is a zero out of 10. I. think [music]. a complete failure and I think that.

could absolutely be improved and needs. to [music] improve immediately. So. overall 35 out of 60. The dating score. really brings it down, but I think he's. got a bright future ahead of him. Thanks again to Sofi for sponsoring this. episode.

Mhm.