Tim Burt (5:27)

Black people wearing the assets on ass.

John Hope Bryant (5:31)

Yeah, too many of us are. And look, I understand it. It's our background, it's our history. We were not allowed to get. We were not taught financial literacy. We were not taught how capitalism works. We were denied that with the Freedmen's bank of 1865. We were denied. We have a darker complexion. It's easier to identify us, segregate us, discriminate against us. There are good reasons, good, bad reasons, why we don't have not achieved because literally we've been held back at every step as a group. Still, we find a way, some of us, to succeed, many of us actually. But Some of us extraordinarily successful, I would call you extraordinarily successful, but because of the low self esteem that comes from the way in which we were treated. Some of us floss and gloss over substance. Some of us want to bling and sing versus own and, and stand in that sense of value that you created quietly. So you said something to me, many things that just had my head spinning. I'm like, where'd this guy come from? What the heck? Because you weren't trying to impress anybody. One thing you said to me, you said to me, you said, john, I put this in my book Financial Literacy for All. So you can go and watch either listen to it on audio tape or go and read the book Financial Literacy for all, number one bestseller to this day, 15 months after its publishing. In the book I cite Tim Burt and Tim says, you got to decide whether you want to be famous or you want to be dangerous. All right, what the heck did you mean by that? Do you want to be famous or. This is the first Tim Burton lesson. What do you mean by you want to be famous or dangerous?

Tim Burt (7:22)

Well, I think too many times we get caught up in having more in our closets than we do in our bank accounts. We put so much money into things that don't matter, that won't last beyond us, things we can't take beyond the grave. So in order to be dangerous, you know, I was talking about a lot of elderly people growing up in Atlanta, grew up in parent homes. I would take people trash out 25 cents as a kid and just make money. They all would give me good lessons. And one thing you know about elderly people, they will always remind you who you are, where you come from, where they come from, and what it should be. And I always hear them talking about legacy and, you know, you don't get.

John Hope Bryant (7:56)

The word of God.

Tim Burt (7:57)

Of course, when you hear the word when you die, would it matter that you live? And I started thinking about that as I got older and started thinking about what it is to be dangerous. And one of the things that really grabbed me when they always put scripture to you, a good man leaves an inheritance to his children's children as being dangerous. And I was like, wow, if I died today, you know, as I got older and started understanding, what would my kids and my family have, what would live beyond the grave when I'm gone?

John Hope Bryant (8:26)

So this is a nice, sweet, wonderful, almost philosophical religious response. That wasn't what I remember. When Tim and I were talking about this a few years ago, he was upset. He Was peed off at some ignorance going on. And I don't remember the. I don't remember the context. I don't think it was, oh, here we go.

Tim Burt (8:46)

I got you.

John Hope Bryant (8:46)

Yeah. I don't remember the context, but I remember he was like, hey, man, like, we got. I'm tired of this stuff. We got to decide whether when we want to be famous or dangerous. What we. What. What got you. What in our culture? Because I know you love us and you want us to be the best version of us. So do I. That's why I'm speaking truth to power. What got you in your gut that caused you to make that. That. That powerful differentiation?

Tim Burt (9:15)

I just think the level of poverty that, you know, I was witnessing, how we can sit back sometime and allow people to dictate to us what we should have and what they think we should have. But when we start knowing who we are and say, hey, look, this is where we draw the line. I'm here to do a service to my family, to my friends, but at the same time, the community. So when you start thinking about making money, people start telling you what you can't do and where you can't go and what you. What they think you should be. And I think you, you know, say this. If you don't know who you are by the end of the day, by the morning when you come, somebody gonna tell you who you are.

John Hope Bryant (9:46)

Somebody gonna tell you who you are. Exactly.

Tim Burt (9:47)

You know, and if nobody. Don't get pissed off behind that, because that means you're allowing other people to define you.

John Hope Bryant (9:52)

That's right.

Tim Burt (9:53)

And I refuse to allow anybody to define me, because in business, people always tell you, well, you can't do this. Who are you to tell me what I can't do when I know why I'm here?

John Hope Bryant (10:01)

That's what I'm talking about.

Tim Burt (10:03)

So now he.

John Hope Bryant (10:03)

Now you talking about Sasquatch here. This is. Tim Burton will come and squash you with his brain. Okay? So you. You're like, don't be celebrities.

Tim Burt (10:14)

Cool.

John Hope Bryant (10:14)

But don't be. Forget being famous. Be dangerous. Dangerous from the neck up. Be smart. Dangerous from the neck up. He's not talking about brawn. He's talking about brains. So you came rolling up to my house one day. You came rolling up in my house one day with a situation that I thought was just. Just wild. You came rolling up in my house with a truck. I'm sorry, half a truck. He drove up and I. You know, in our. In our. And we have a nice spot now. You know, I'M not trying to have no raggedy stuff up in my. My spot.

Tim Burt (10:51)

I'm.

John Hope Bryant (10:51)

I'm particular. Here's this black man pulling up in half a truck. Literally half a truck. The cab, the back of the truck's gone. Like, what the heck's going on? This is a homeless dude and made up in my property. Tim, what was going on with half a truck, man?

Tim Burt (11:09)

So what happened was.

John Hope Bryant (11:10)

What happened was, see the situation.

Tim Burt (11:12)

What had happened was the situation had changed. John called me about some things that he needed at his house. So I needed a truck, and I was looking all over find, you know, truck prices just high, you know, like, he said, I got away. I like to spend and save money. So I called, and I was looking online. I found this truck, but they didn't have a picture on it. And so when I called the people, because it was a F250, like a.04, like $7,000 with 55,000 miles on it. I was like, man, this got to be a great truck, but it must be wrecked or something, so I'm able to take it and, you know, fix it and do what I need to do. So I called the people, and the guy said, man, how did you get it? That quiz I just literally hit saying. I said, look, I want the truck. If it's good shape, if it's running, I'll take it. He said, well, I got a little problem. I said, well, whatever problem is, it ain't wrecking if it's running. I'll take it for $7,000. 55,000 miles. F250.

John Hope Bryant (12:03)

Sir, slow down. $7,000.

Tim Burt (12:05)

$7,000. 04 and had 55.

John Hope Bryant (12:09)

2004 years. Yeah, 2004 had 55,000 miles, which is not bad at all.

Tim Burt (12:13)

Not bad at all.

John Hope Bryant (12:14)

These TR. Go forever. And. And. And so you called and said, I'll take it.

Tim Burt (12:19)

I said, I'll take it. So he said, well, there's one little problem. You know, the truck don't have a bed on it, Meaning the back. The back of the truck.

John Hope Bryant (12:26)

Yeah, I'm trying to. I'm trying to translate for everybody.

Tim Burt (12:29)

Just.

John Hope Bryant (12:29)

Just stay with me.

Tim Burt (12:31)

So the truck don't have a back on it, don't have a bed on it. He said, just a frame and just, you know, just the truck. But he said, it run pretty good. I said, I'll take it. I said, I'm on my way. And I said, do I need to send you a car with my light so you can hold it for me? He said, sure. He said, no, just give Me your name and I'll hold it for you. He said, but you got an hour to get here. So. And it was. It was a little further away. So I said, look, I'm on the way. I got down there front the truck up. He brought around. They had done washed it. And of course, then they held it back on the bed. And the man said, man, you know what? I made a big mistake. I should have got this truck for my son, but I couldn't send it to him because I, you know, gave you my word. So I told him, I said, look, here's the check. I wrote the check.

John Hope Bryant (13:11)

So you pay for it cash?

Tim Burt (13:13)

Yeah.

John Hope Bryant (13:13)

So you pay for a cash because you. You went did some jobs in construction because you're a general contractor. You get paid on the general contracting job versus taking that money and going, buying some suits and some jewelry or flossing off at clubs or whatever. You bank that money, you set it aside, you paid your bills, and then you look for a value situation that could build you something that can make you money and build you wealth in the future. And you thought, you thought. And buying something under market under versus paying more for it than it's worth. Like people leasing luxury cars right now. Buying, leasing, paying 4,000, $8,000 a month. People pay a month for a lease on a car. They don't own what you bought this truck for. So versus doing all that floss and stuff, your values, who you are said, mess. The heck with all that. I want to own this truck 100%, take my profit and create prosperity. Do I have this right?

Tim Burt (14:09)

That's it.

John Hope Bryant (14:10)

So you wouldn't bought this truck? You didn't care what it looked like?

Tim Burt (14:13)

Didn't care what it looked like. Who looked at me driving it? Even you.

John Hope Bryant (14:17)

Because when I drove up, he was.

Tim Burt (14:19)

Like, what the is you driving? I said, a truck? Didn't I get over here? I said, what does it represent? Transportation. It transported me from one place to this place.

John Hope Bryant (14:28)

So I'm here. I want to make sure Everybody's hearing you 100%. Tim is a construction dude. He owns. He owns a construction company. He's not used to this media stuff. He's only doing this because I asked him to do it. But this is a great role model for you. So you didn't care what it looked like. You didn't care what I had to say about it or anybody else. You didn't care. People looking at you crazy on the freeway, you're like, what your view is? I own it.

Tim Burt (14:51)

Exactly. I'll never Forget this story. And I told you. We laughed about it. I pulled up to the gas station. You know how people come up and ask you for money? So this one lady walked over. She looked at me. She said, what the is you driving? She said, I was gonna ask you for some money, but look like you need help. I said, well, you got $2 on this gas.

John Hope Bryant (15:08)

You will take a gas. Can you help me? Okay, I'll take it. Exactly.

Tim Burt (15:13)

But looks deceiving.

John Hope Bryant (15:14)

Looks are deceiving. So you didn't care how it looked. You didn't care what somebody's impression was. It's your truck. All right, so this. So now I come up to the house one day, and, you know, we've got some. Some. Some space on acres. And so my man. And by the way, he's the one who indirectly encouraged me to. We have 40 acres, which goes back to 40 acres and a mule in an area in a county that was a slave county years and years and years and years and years ago. So we really thought it was a tipping of the hat of the legacy of our ancestors that we would own 40 acres. Well, Tim was the one who. One of the people who encouraged me to. You know, we don't want to give my address, but the address of the property has some symbolism to it because it ties back to the Freedmen's bank and all that. But the 40 acres. Tim was like, yeah, you got to. You know, you got to start out at 13 acres. You got to buy this additional acres. What? I didn't realize that Tim also wanted a place to park his crap. So.

Tim Burt (16:19)

Hustle, economics.

John Hope Bryant (16:20)

Hustle, economics. So I come. I pull up one day. I pull up one day, and. And Tim. Well, there's a. There's a. A dump trailer in my. In my. In my. Well on my property. I'm like, well, I didn't. I didn't hire no dang on dunk trailer. I didn't. What's this dump trailer doing there? And come to find out is Tim Burton.

Tim Burt (16:54)

Mmm. Ooh.

Dani Shapiro (16:56)

Whatcha eating?

John Hope Bryant (16:56)

The new banana split cookie from AM.

Tim Burt (16:58)

Pm All freshly baked with real butter.

John Hope Bryant (17:00)

With banana, chocolate, and strawberry flavors. Wow, that sounds amazing. Can I have a bite?

Tim Burt (17:04)

I'm sorry, but no. But you can't split the banana split.

John Hope Bryant (17:08)

Not even a little. Not even a crumb. What if.

Tim Burt (17:11)

No, please. Mine when it's too legit to split. That's cravenience. Get a three pack for 99 cents with our app AMPM. Too much good stuff. Plus tax where applicable. Prices and participation may vary. Terms and conditions apply.

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Maria Hinojosa (17:54)

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John Hope Bryant (18:26)

Most pressing news, they're creating this narrative that immigrants are criminals.

Tim Burt (18:30)

This is about everyone's freedom of speech.

John Hope Bryant (18:33)

Nobody expected two popes from the American.

Maria Hinojosa (18:36)

Continent to stories about our cultures and our identities.

Tim Burt (18:40)

When you do get a trans character like Emilia Perez, the trans community is going to push back on that colorism.

Ebony (18:46)

All of these things that exist in.

John Hope Bryant (18:48)

Mexican culture and Latino culture.

Maria Hinojosa (18:49)

You'll hear from people like Congresswoman Aoc.

John Hope Bryant (18:52)

I don't want to give them my fear. I'm not going to give them my fear.

Maria Hinojosa (18:56)

Listen to Latino USA as part of the Mike Cultura Podcast Network, available on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

Ebony (19:07)

We all know, right? Genius is evenly distributed, opportunity is not.

Will Lucas (19:13)

It's Black Business Month and Black tech green money is tapping in. I'm Will Lucas, spotlighting black founders, investors and innovators building the future one idea at a time. Let's talk legacy tech and generational wealth.

Unknown (19:26)

I don't think any person of any gender, race, ethnicity should alter who they are, especially on an intellectual level or a talent level, to make someone else feel comfortable just because they are the majority in this situation and they need employment. So for me, I'm always going to be honest in saying that we need to be unapologetically ourselves. If that makes me a vocal CEO and people consider that rocking the boat, so be it.

Will Lucas (19:50)

To hear this and more on the power of black innovation and ownership, listen to Black Tech Green Money from the Black Effect Podcast Network. On the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

John Hope Bryant (20:04)

Why in the heck did you have a dump trailer on our property? And what's the history of the dump trailer? You bought this dump trailer?

Tim Burt (20:12)

No, I didn't buy it, but you.

John Hope Bryant (20:14)

Can see how I got it. You're not a thief, right?

Tim Burt (20:17)

You had to hide it out for a little while until I got it paid off.

John Hope Bryant (20:20)

No, I'm just kidding. Okay, so what's the His. What's the history of this dump trail?

Tim Burt (20:23)

So the history of the dump trail is I got a call, a friend of mine who was running the manufacturer, who was actually, you know, producing and making those dump trailers, and he wanted me to come in and do a seminar pretty much on financial literacy, peak performance, and diversity. Okay. And so, long story short, I went in day before, assessed everybody, talked to the people, went back to my hotel, put everything together, showed up the next day, met with the executive staff and the team, and did my presentation. And so afterwards, you know, he said, man, that was great. You know, everybody loved it. You know, people, you know, got great reviews. Here's your check.

John Hope Bryant (21:04)

I said, well, look, so wait a minute, hold on. So you're not now you doing seminars and you're the jack of all trades? Exactly.

Tim Burt (21:11)

You talking about.

John Hope Bryant (21:12)

How did you do that? My man is hard slammed. Go ahead.

Tim Burt (21:15)

How did you get this trailer with that? You didn't steal it then? I said, no, man, I'll tell you the story. So when he handed me the check, I said, look, man, if you don't mind, I don't want the check. I'll take one of those dump trailers out there. He said, man, you crazy? Why don't you take your money? I said, listen, if I take that check from you, I gotta add probably another four or five thousand to it to get one of those trailers. So you keep your money, keep it in your slush fund, whatever y' all need to keep it and wherever you want to put it. And I just take one of them dump trailers. He said, okay, let me go over here and talk to the people. And they was like, oh, man, yeah, give them that dump trailer. Cause what they was gonna pay me was a whole way more than what the dump trailer that it would cost them to produce it. So now, yeah, give it to them.

John Hope Bryant (21:55)

They hurry up.

Tim Burt (21:56)

I might have thought something wrong with it for a minute, but that's how I got the dump trailer. And I didn't even have a truck at the time to pull it, you know? Cause you needed which is why he.

John Hope Bryant (22:05)

Had a truck with no back on it. My God. My man is CEO of Hustle. Okay, let me back. Please hear me, you guys. You don't matter how to you. There's two ways to make money. Make more or spend less. My man is the CEO of Thrift. So you go to give this speech. The guy's ready to pay you for your speech. You're not even a professional speaker. You're a general contractor. But you obviously articulate and people are charismatic, dangerous. You're dangerous from the neck up. So he goes to give this speech, which he's not qualified to do. Go tell him that. Of course he's qualified. That's not his. But it's not his trade. And they go to pay him and he's like, no, I'm not really. The cash he knows is going to disappear. Yeah, he's going to spend his kids going to spend it. His wife's going to spend it. Somebody's going to spend it. He's like. He looks over and you say, how about one of those dump trailers?

Tim Burt (22:59)

Yeah, I take one of those dump trailers out there.

John Hope Bryant (23:02)

Did you know what it was worth?

Tim Burt (23:03)

Oh, of course.

John Hope Bryant (23:05)

So what was it worth as worth.

Tim Burt (23:06)

About brand new, like $12,000. It was brand new and never, you know, been off the lot. These are some. They make that as the manufacturer.

John Hope Bryant (23:12)

And did you know what the wholesale price was? The cost?

Tim Burt (23:16)

Ain't no sale prices on those.

John Hope Bryant (23:17)

Unless, I mean, you know the cost was to buy one. Like what he would pay for it. Did you know what that price was?

Tim Burt (23:23)

Oh, their price. They probably made it for about, you.

John Hope Bryant (23:25)

Know, three, four or five. Yeah, yeah, yeah, yeah.

Tim Burt (23:27)

That's what it cost them.

John Hope Bryant (23:28)

Yeah. So your speech fee was sufficient to cover his cost, right?

Tim Burt (23:33)

At about six grand. But the dump trailer, 12,500. So I'd have to put another 6,500 to get the trailer. So you just keep the check. Keep that money.

John Hope Bryant (23:43)

Give me that trailer. That's a beautiful. That's a beautiful thing. There's two ways to make money. Make more, spend less. And what he just said is similar to how we deal with financial coaching and operation Hope. If somebody has a charge off on their credit report that's 10 years old, if it's $1,000 phone bill or something like that, well, they chased you for that thousand dollars for two, three years. They couldn't find you. One company sold to another. They finally sold that debt to Joe's Finance company. Joe's Finance. Finance company, in this example, bought it for 5 cents on the $.50. And it was a thousand dollar debt. So when we call Joe's finance company to try to resolve that debt for the client, Joe's finance company wants to double their money. So they bought it for 50 bucks. They won a hundred. But if we offer them 200, which is an incredible profit for them, it's an 80% discount for my client. Because she owes a thousand. Yeah, she's paying 200. It's a 200% profit on the. Or better for the. Joe's Finance company's example. Everybody win. No fair changes. No robbery. Everybody walks away from that clean in my. And my client gets a credit score, a pop of 40 points. That charge off comes off of their credit report. You can't get obsessed with, oh, we're paying this person 300% of what I owe them, or whatever the thing is. No, when you leave a negotiation, everybody should leave slightly annoyed. That's a successful negotiation. So you left that negotiation. You, you, you. You know, it was more than he paid for it, but less than you would have had to pay for it by. By 100%.

Tim Burt (25:31)

Yeah.

John Hope Bryant (25:33)

You could have got caught up with, well, what did he pay? I'm not gonna pay any more than he paid for. That's a wrong argument. In fact. That's arguing. That's emotional. Don't get emotional in business. In fact, you were not emotional in business. You were just like, I know I can make money in my sleep because you're charging a rental rate. He probably charged me a rental rate for that dang on. That big little trash bin he put on my property. I remember now. We did construction work on my property, and he probably charged me rent while I'm trying. While he's getting rent free. Rent free. Storage Hustle economics. He charged me for this dang on trash bin. Now I'm thinking the whole situation out now, but I mean, I respect it. I mean, I just. This is. This is. This is brilliant. So now he takes the. Actually, he can't put this big old trash bin in the back of that pickup truck. But if he could, he would have. If, If Tim could have. Could have latched that trash bin on the back of that. That. That F2 was the F250.

Tim Burt (26:27)

Yeah, that's what I pulled away. But I had to go to Home Depot and rental truck to drive it. And I dropped it off at his property until I got my truck. And then I went over there and got.

John Hope Bryant (26:35)

So you were able to pull that with the F250?

Tim Burt (26:37)

Yeah, I could pull it with F2.50. But I didn't have an F250 at the time.

John Hope Bryant (26:40)

I had on the F250 with no backing on it. With no, no.

Tim Burt (26:44)

Yeah, that's the one I bought to pull it with.

John Hope Bryant (26:45)

You did pull it? Yeah. Okay. Excuse me. This is a. This is a real. This. This dude is the Hustler Incorporated. All right. So there's this other story I want to share. You were years and years ago. Your wife is a brilliant doctor and a nice person. Nicer than you. And she's an obgyn. Right, obgyn. And she was starting a practice, or she had a practice and she needed an office. You correct me if I'm wrong, most people would have rented an office. Yeah. Please tell the audience what happened in your situation. You went to go look at an office, and I guess you could have rented it.

Tim Burt (27:28)

Yeah.

John Hope Bryant (27:29)

What happened?

Tim Burt (27:29)

So, long story short.

John Hope Bryant (27:31)

Pay attention, people.

Tim Burt (27:31)

We got married September 2010. She was looking to become a partner in the practice she was in in 2011. The owner told he didn't want to practice. So that was around February. So August. We found a building and got her involved. But the key to it, what he want to know, want to let you know, is about how we bought the property. That was a guy with the property. $480,000. What they want originally. And we just kind of backed off and waited.

John Hope Bryant (27:59)

So let me back up. First of all, you could have rented something. We could have rented it right away. Nope. And he would have been happy to rent it to you.

Tim Burt (28:04)

Yeah.

John Hope Bryant (28:05)

Okay. So now continue.

Tim Burt (28:06)

And so what my wife did once we started our office originally, before we bought the building, we did a timeshare with another doctor. So he was only there because he's a surgeon. He was only there in that area maybe like Monday, Wednesday, and certain days, like half a day. So whatever. Half a day he went there.

John Hope Bryant (28:21)

She could have used it.

Tim Burt (28:22)

And so I told him coming in, because he didn't need, like sinks and stuff like that. He just come and check gauze and do stuff like that. They need something he take back to the hospital. So by him, she knowed him as a friend. They went to school together and did some surgeries and things like that together. So I went in and renovated that office and then charged him because he was allowing her to come in that space and use it.

John Hope Bryant (28:42)

And so you guys did a barter. Yes, we did a bottle barter trade.

Tim Burt (28:45)

That's how we did. And then we found the other buildings. So we found the other building that we really really wanted. And so we went over there and looked at it, met with the owner, and first, like I said, he wanted 480, 000. We waited and it came back. The price dropped.

John Hope Bryant (28:58)

Slow down. Slow, slow it down, Mr. Mr. Financial Genius. Slow it down so people can keep up with you. So you were going to rent the building. You, you went, found a co op situation the time, basically sharing a space, you did some work for the surgeon in exchange for rent. Then you found another building that you actually wanted to have yourself. The owner wanted 480,000. What happened next?

Tim Burt (29:24)

Waited for a little while, maybe about a year or so, then the price dropped because nobody, you know, I guess bought it or looked at it or had any interest in. So he dropped it to 225.

John Hope Bryant (29:33)

Where was your wife during the time that you're waiting or. She operates, she's dealing the timeshare situation.

Tim Burt (29:39)

So patience, patience, patience is key. Patience is a virtue. So we meet the gentleman over there. So the, My wife had a financial advisor at the time. So we go over there and meet the owner. But before we left, I told him, we don't rent. I want to buy it. That's, that's my stronghold. We want to purchase it. So we get over there, the guy said, oh yeah, 225, 20 down. I wouldn't do owner finance. And you know, I'm gonna fix the roof and I'm gonna fix. I said, ho, stop right there. I don't need you. I don't want you changing a light bulb. I want it just like it is.

John Hope Bryant (30:09)

What?

Tim Burt (30:10)

So that 20 down, that's like $50,000. I said, look around here. This place is gonna need about a hundred thousand dollar worth of renovations. I said, so I'm gonna renovate this office. I'm binding on my strength, not my wife. I said, so you talking to me, not her. Get her out the picture, okay? I said, so that's my stronghold, that's my capability. And he said, well, I just think of you, you know. Her financial advisor jumped in and said, well, I think if you rented for two years. I said, hold on. I stopped him. I said, sir, let me tell you something, we ain't doing no rent. If you want to sell me this building, he's gonna make me an offer that I can't refuse, and we gonna take it. Now if you don't want to do that, we're gonna end this conversation.

John Hope Bryant (30:46)

So this dude's gangster? This is financial literacy. Gangsterism 101. Dangerous, dangerous. Okay, continue.

Tim Burt (30:55)

So the gentleman said, okay. He Said, I got your point. I hear you. So the next day this lady walks into my wife office and you know, my wife, sister and you know, staff was up front and lady came and asked who, who is timber? I want to know this. So here's a woman coming in asking these women who am I? So they looking like hey, what you asking that for? So she said, oh, I'm sorry. She said I'm with, you know, the doctor who gonna set off. She said, I've never seen him do this before. He sent the keys over. He wanted 20% down. He said give him 5,000 down and he'll finance it. 15 years, 6% interest.

John Hope Bryant (31:29)

6% interest.

Tim Burt (31:30)

6 percent interest.

John Hope Bryant (31:31)

I love it.

Tim Burt (31:31)

And I said we'll take it.

John Hope Bryant (31:32)

Which is a great rate for a commercial building, by the way. People are complaining about 1, 2, 3%. You'll never see 1, 2, 3% again in your life. That was free money.

Tim Burt (31:41)

That was in 2013.

John Hope Bryant (31:42)

Get it out your head. Right, right. So, okay. And this is seller financing, which is going to be more expensive anyway. But okay, so versus the $50,000. Now you convince him you're going to improve the property.

Tim Burt (31:54)

Exactly.

John Hope Bryant (31:55)

Which is his property. Until you pay it off. So if you default, you improved his property. He wins, he gets the property. And your improvements. By the way, don't get mad at this. This is capitalism. This is fair exchange. There's no robbery. This is the way this works. Don't take it personal. It's not every again in a great negotiation, everybody wins. Slightly annoyed. The owner didn't get everything they wanted. Tim didn't get everything he wanted. Actually, Tim actually did got everything. The guy just didn't know it. So now five grand down.

Tim Burt (32:22)

Also economics.

John Hope Bryant (32:23)

Also economics. Five grand down.

Tim Burt (32:26)

Yep.

John Hope Bryant (32:27)

Six year term.

Tim Burt (32:28)

No, 15 year.

John Hope Bryant (32:29)

15 year term. Six percent interest. Right. You're doing improvements of the property with your own. With your own construction company. So you're doing it at cost over your time. Okay.

Tim Burt (32:38)

Yeah.

John Hope Bryant (32:39)

Where are we at now?

Tim Burt (32:40)

Where we're at now? We still own the building. My wife still practicing and the building have gone from 225. We just kind of looked it up and did I let you tell them because he numbers guy.

John Hope Bryant (32:49)

Yeah. So the building now is worth conservatively $750,000. It's between 750 and a million. And no one. I'm not giving you the dang on address so you can go and harass him and his wife trying to sell the buy the building from the dollar. No. I'll just tell you that it's it's somewhere here in Georgia. And it's a. And it was a brilliant business move. They've tripled, maybe quadrupled the profit. And if they had rented all this time, again, we have this short term mentality a lot in our community. I want to get this cash. We'll get this bag. I want to get this dollar. I want to get this money. All cash is a medium of exchanging value. That's it. It's completely overrated. What we want to do is you build wealth in your sleep. So Tim just gave you at least two examples, no, three examples of building wealth in your sleep. He gave you an example of mindset. You want to be famous.

Tim Burt (33:43)

You want to be dangerous.

John Hope Bryant (33:44)

Dangerous. Dangerous from the shoulders up. So how you're thinking about mindset, which he got from his grandparents, got married, grew up, which hopefully we get to in some lessons before we finish the podcast episode. The second lesson he gave you was his raggedy truck. Actually, it's four lessons. This raggedy truck that he had on.

Tim Burt (34:00)

My property and I still have that truck.

John Hope Bryant (34:03)

Actually, he's not a raggedy truck. It just looks raggedy because it doesn't have a back end on it. There's no bed. Is there a bed on it yet?

Tim Burt (34:10)

Nope.

John Hope Bryant (34:11)

Why don't you have a bed on the truck? It's because you don't want to spend the money.

Tim Burt (34:14)

If it ain't broke, don't fix it, don't fit.

John Hope Bryant (34:16)

And you still don't care what anybody thinks about you driving this car.

Tim Burt (34:19)

Hey, that's right.

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Maria Hinojosa (34:56)

I became a journalist, I was the first Latina in the newsrooms where I worked. I'm Maria Hinojosa. I dreamt of having a place where voices that have been historically sidelined would instead be centered. For over 30 years now, Latino USA has been that place. This is Latino USA, the radio journal of news and cultura. As the longest running Latino news and culture show in the United States, Latino USA delivers the stories that truly matter to all of us, from sharp and deep analysis of the most pressing news.

Ebony (35:28)

They'Re creating this narrative that immigrants are criminals.

Tim Burt (35:31)

This is about everyone's freedom of speech.

John Hope Bryant (35:34)

Nobody expected two popes from the American.

Maria Hinojosa (35:37)

Continent to stories about our cultures and our identities.

Tim Burt (35:41)

When you do get a trans character like Emilia Perez, the trans community is gonna push back on that colorism.

John Hope Bryant (35:47)

All of these things that exist in.

Maria Hinojosa (35:49)

Mexican culture and Latino culture, you'll hear from people like Congresswoman aoc.

John Hope Bryant (35:53)

I don't want to give them my fear. I'm not gonna give them my fear.

Maria Hinojosa (35:57)

Listen to Latino USA as part of the Mic We Cultura Podcast Network, available on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

Ebony (36:08)

We all know, right, genius is evenly distributed. Opportunity is not.

Will Lucas (36:14)

It's Black Business Month, and black tech green money is tapping in. I'm Will Lucas, spotlighting black founders, investors and innovators building the future one idea at a time. Let's talk legacy tech. It's and generational wealth.

Unknown (36:27)

I don't think any person of any gender, race, ethnicity should alter who they are, especially on an intellectual level or a talent level, to make someone else feel comfortable just because they are the majority in this situation and they need employment. So for me, I'm always going to be honest in saying that we need to be unapologetically ourselves. If that makes me a vocal CEO and people consider that rocking the boat, so be it.

Will Lucas (36:51)

To hear this and more on the power of black innovation and ownership, listen to black tech green money from the Black Effect podcast Network on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

Tim Burt (37:01)

Adventure should never come with a pause button.

Unknown (37:03)

Remember the MoviePass era where you could watch all the movies you wanted for just $9? It made zero sense, and I could not stop thinking about it. I'm Bridget Todd, host of the tech podcast There are no girls on the Internet. On this note, this new season, I'm talking to the innovators who are left out of the tech headlines, like the visionary behind MoviePass, Black founder Stacy Spikes, who was pushed out of MoviePass, the company that he founded. His story is wild and it's currently the subject of a juicy new HBO documentary. We dive into how culture connects us.

Tim Burt (37:34)

When you go to France or you go to England or you go to Hong Kong, those kids are wearing dragons, Jordans. They're wearing Kobe's shirt. They're watching Black Panther and the challenges.

Unknown (37:48)

Of being a black founder.

Tim Burt (37:49)

Close your eyes and tell me what a tech founder Looks like they're not going to describe someone who looks like me, and they're not going to describe someone who looks like you.

Unknown (37:56)

I created There are no girls on the Internet because the future belongs to all of us. So listen to. There are no girls on the Internet on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

John Hope Bryant (38:10)

So what was the truck worth, do you think, when you bought it? What was the values, man?

Tim Burt (38:14)

F250 2004 with 55, 000 miles on it, man, you're looking up with 15, 20, $25,000.

John Hope Bryant (38:21)

Really? Yes. So you bought it for half or. Or better, because it. It was. They had it back on it and.

Tim Burt (38:28)

They probably just didn't know the values. They want to get rid of them, get it off their lot.

John Hope Bryant (38:31)

Okay, so.

Tim Burt (38:32)

And guess what? I took it off of them.

John Hope Bryant (38:33)

Exactly. I. I drive and I'll be in the county, I'll be in the country sometimes, or I'll be driving somewhere and I'll just. You know, you'll drive by a property and you'll see a truck or something or a car or a tractor or something in the backyard. Sort of all that got stuff on it somebody just covered up. The owners don't know what that is. It may be the. The father passed away. I don't know. When my father passed away, he had a bunch of construction equipment. I mean, I didn't know the worth of it. I just want to get rid of it. So we. I told my people, just sell it for whatever you can get, let you know, bless somebody else. So imagine people driving by somebody's farm, ranch house, just looking for things that they don't value, but you do. That's what you did in this situation. You valued it. You understood the value. The guy didn't. So that was the second example. The third example was the dump truck you left on my thing on property. Charged me rent for as he charged me cost to do the work. Hustle economics. Right. And he still has equipment on my property, a tractor and some other skid steel.

Tim Burt (39:34)

Yeah, the skid that we use.

John Hope Bryant (39:36)

You even know the stuff you left in my property? That big old barrel thing? I don't know. You get me frustrated.

Tim Burt (39:44)

Most people know him as like a bobcat.

John Hope Bryant (39:46)

So. Yeah, you bought a brand new one.

Tim Burt (39:48)

Because he, you know, on his property we create some trails.

John Hope Bryant (39:51)

No, no, he just. You. He's using me as a storage facility. That's what he's doing. Because he's really stingy. He don't want to Spend no money. All right?

Tim Burt (40:00)

That's what friends are for.

John Hope Bryant (40:00)

That's what friends are for. So then he has this commercial real estate deal, which I think is absolutely brilliant. And this is the example, like people like the young people, like, oh, I'm tired of owning this house. I'm gonna sell this house. They just bought it two years ago. I'm gonna move into an apartment. Horrible move. Really not smart. You're gonna move in this apartment. You're gonna be flossing, chilling, you know, living your best life. And 10 years now from now, you got to look back at that house you sold. It's going to be. It's going to have doubled in value. Now you can't afford to go back in that house. You spent all the cash that came from selling that house on rent. You paid people like me to house you, and now you tore from the flow up. So. Because we're flossing.

Tim Burt (40:45)

Yeah.

John Hope Bryant (40:45)

Right. So this has been fantastic already. Is there another lesson or two you have that you'd like to share with the audience before we. I want to wrap what was some. Just some wisdom from your growing up experience. But what, what else did you.

Tim Burt (41:02)

I think one of the, the most important story. My wife is OBGYN. You know, she went to school 24 years of her life. I went to high school.

John Hope Bryant (41:08)

Let's give her a name because she's Julianne Adamsburg.

Tim Burt (41:11)

Yeah.

John Hope Bryant (41:12)

Great lady.

Tim Burt (41:13)

Yep. So she's a doctor. Here I am, kid.

John Hope Bryant (41:17)

Her and my wife are friends.

Tim Burt (41:18)

Yeah. Grew up in Atlanta, Georgia. Pair of homes, went to Archer High School. And pretty much that's when they went to and under Tech for a few years for automotive technology. Never did finish. So now we're dating and you know, some of girlfriend, they're like, what? It's like one of Tyler Perry movies. He, he, he never went to college. And then I had four kids. She didn't have any kids. So long story short, we started dating. And so seriously.

John Hope Bryant (41:40)

So you. So you never went to college?

Tim Burt (41:42)

Never went to college.

John Hope Bryant (41:43)

Millionaire. Tim Burt's a millionaire. He's married, ladies, so get that. But he's a millionaire. Never went to college. Proud of it. But this is one of the smartest guys I know. He'll run circles around people with a college degree. By the way, I never went to college.

Tim Burt (41:58)

Hello.

John Hope Bryant (41:59)

GED out of high school, which Chris Rock called a good enough diploma. Right? I've got, I've got a. I've got two or three honorary doctorate degrees. I've got, I've got, you know, certificates From Harvard. Harvard University. Harvard. But I went to community college. Right. Anyway, finish, right?

Tim Burt (42:20)

So we dating and all the friends come in, meet me, and we talk. And one of the things I did, I just asked everybody at the table, what was the last book you read that telling you where you're going in your future. He's like, wow. So I started naming some books. So, long story short, we decided to get married. And I said, hey, before we start discussing the wedding, we start talking about anything. We need to buy a piece of property, pay cash for it, because something has to pay for the wedding. It's not coming out of my pocket. Pocket.

John Hope Bryant (42:45)

Say that again.

Tim Burt (42:47)

Gotta pay for this wedding and it ain't coming out of my pocket. Has to pay for the wedding.

John Hope Bryant (42:52)

Is not coming out of your pocket.

Tim Burt (42:53)

Not coming out of my pocket.

John Hope Bryant (42:54)

You told your wife this?

Tim Burt (42:55)

Yes, and she agreed. So we found this property. This was back in 2010, right after the, you know, big burst. We bought a piece of property for $20,000.

John Hope Bryant (43:06)

So you took the benefit of the fact that people were, you know, in foreclosure or losing their houses, which is not your fault. It was going to happen anyway. So now that the economy's falling apart, you go and take the advantage of buying a property at a low. A low price.

Tim Burt (43:20)

Yeah.

John Hope Bryant (43:20)

And we better tell the rest of the story. But I want the audience also to listen to this. Like, I bought properties as a result of the, of the economic disaster of the Great Recession of 2009. 8, 9, 10. You know, on the back end of that, I bought a bunch of properties that went up in value so people don't get like, all emotional and, and, oh, you know, you're benefiting because somebody. Yes. That is capitalism. That is the way. I didn't, I didn't cause a person to lose their property. I wasn't in their, Their. Their finances, causing them to. To go and overspend on stuff. People make decisions that they make. I have nothing to do with it. Tim had nothing to do with it, but with it. But if a value comes to you that you can take advantage of than rainbows after storms. You cannot have a rainbow without a storm first. So. So now you, you'd benefit from the crisis.

Tim Burt (44:12)

Yeah, the market crash. And two years before, the house was sold for 142 and we bought it for 20,000.

John Hope Bryant (44:18)

20,000.

Tim Burt (44:19)

20,000. That was in 2010.

John Hope Bryant (44:21)

Okay.

Tim Burt (44:21)

So held the house, rent a little bit, did some renovation. So it was a three, two when I purchased it.

John Hope Bryant (44:27)

People want a three two is, oh.

Tim Burt (44:28)

Three bedroom two bath. I'm sorry. And I turned into a six bedroom and four bath. And we just recently sold it for 284,000.

John Hope Bryant (44:37)

Love that. Bought it for 20,000. Bought it for 20, sold it for two. Yeah, 280.

Tim Burt (44:42)

284.

John Hope Bryant (44:43)

And you put up how much into it? What, 80?

Tim Burt (44:46)

No, you know, I owned it. So it was me. And I had, like, three houses on that street put probably about. With me doing the work in my team, probably put about 35, 40 in it.

John Hope Bryant (44:57)

This dude is straight up hustler. And you say you own three or four properties on that street? Yeah. Tim Burke working for me. I need to be working for him. I mean, I probably am working with him and just don't realize it.

Tim Burt (45:09)

Hustle economics.

John Hope Bryant (45:12)

All right? And we don't have time. Maybe we'll have you come back. We don't have time for all these stories because you. You also helped to build a huge church.

Tim Burt (45:18)

Yeah. New birth. I knocked on you. I did. Had the pain contract. Long story short, I was supposed to do 35%. I end up doing 85%. And then I eventually started doing maintenance.

John Hope Bryant (45:27)

Yeah.

Tim Burt (45:28)

Okay. Yeah. It's a huge facility and, you know, very thankful to Bishop Long, who made sure that happened, stood and make sure we had opportunities in that church.

John Hope Bryant (45:37)

Bishop Eddie Long had hired you to do that?

Tim Burt (45:39)

Well, he made sure, you know, you had minority contractors and vendors in there. And he promised one thing. Look, I can get you in the door and make sure you get 35%, but the rest is up to you. So they got me in on the pain, and I had 35 guaranteed, but I ended up doing 85.

John Hope Bryant (45:54)

So, no. No handouts.

Tim Burt (45:56)

No handouts.

John Hope Bryant (45:57)

I'm gonna give you. I'm gonna. This is a James Brown version of affirmative action. Open the door, I'll give it myself. So he opened the door, created opportunity for you, but you had to hustle.

Tim Burt (46:06)

Yes.

John Hope Bryant (46:06)

You have to do the work. And you went 35 that contract to 80.

Tim Burt (46:09)

85.

John Hope Bryant (46:09)

That's fantastic.

Tim Burt (46:10)

Yeah.

John Hope Bryant (46:10)

Okay. So much with Tim Burt. You call me one. I get these calls out of the blue from Tim, you know, straight call me one day. I want to buy 100 of your books. This is financial. A couple of my books. But you want to give. You want to give them away the memo. You want to give them away to.

Tim Burt (46:29)

Young people that I was working with. Yeah. Young guys. And I encouraged them to read the book. And whoever gave me the best report, get, like, a hundred dollars.

John Hope Bryant (46:35)

Okay. And why'd you do that?

Tim Burt (46:36)

Well, one thing we understand to be transformed, you have to renew your mind. And you're talking about the same thing when you had that person who had that thousand dollar debt. And so, okay, I'm gonna help you get that debt reduced. So that person changed their mind at that point because somebody started working with them, start showing them the better way, from the neck, from the shoulder up, that you start thinking different when you change your mind. See, he always say, if you hang around nine broke people, you'll be the 10. I say if you hang around one wealthy person, you'll be number two.

John Hope Bryant (47:08)

That's why I can't get rid of timber. I come out of my bathroom, there he is. I come out of my master closet, there he is. I walk in my office, there he is. Tim, Tim's bad. A bad brother. Being a good brother, you. Everybody needs a Tim Burton. Your life and stuff happens at midnight. I'll call Tim and Tim will, I'm there. You know, I'll, you know, don't worry about it. So our family really is blessed to have him in our lives. Shae Trent I okay. You called me one day and said you were becoming a film producer. This is a hustle Economics always. And I was going to be featured in this animated film. Let's talk about that real quickly.

Tim Burt (47:56)

Yeah, so we took John last two books, the up from Nothing and the financial literature all. And we took young kids, the company's make believe village that I'm a partner in. And we do that, he's a partner in. Yet another thing, found the Dorian Fold. You know, he gave me the opportunity to come in and be a part of it. So what happened? John told me one day I was out at the property, hey man, I quoted you in my book and I didn't know it. And he signed the book and gave it to me and I was like, wise, I ain't gonna tell you where it is, go read the book.

John Hope Bryant (48:23)

And so I wanna make sure he could read, he would read. So he said, I want you go.

Tim Burt (48:28)

In there and find it. I ain't gonna tell you where it is.

John Hope Bryant (48:30)

Please read the book.

Tim Burt (48:31)

So John always doing stuff to surprise me and I did something to surprise him. So we took those last two books and created a short film. So I think he posted, but we'll repost it again. And we took, you know, my sons and other young kids and allowed them to do the puppetry and they was able to tell the story because you know, everything that you say and normally you're saying we allowed that to be put in and we produce. I mean, it is professional when you see it, it's amazing. And right to this day, it touches so many young people, lives and parents. So now we just finished up a program from last year and this year, working with the mayor's cultural affairs office where we take kids in. And the mayor's office, they pay them to come over there and learn services that we're providing. You know, we teach them how to build sets because that's part of the construction site. We teach them how to write, direct produce, I mean, storytelling, broadcasting, doing it all. And also have a food trail.

John Hope Bryant (49:19)

Okay, my man owns a food. I forgot about that. He owns a food. He called me one day, he's like, hey, look, the next time you have an event, you and. You and Shay, are you in operation? Over. Whatever, you know, just let me know. I'm gonna bring the food trailer over and you know, I'mma give it to you for free.

Tim Burt (49:32)

Yeah, we'll take care of your guest. You know, you just tell how many numbers, we'll take care of you tell us the menu, we got you.

John Hope Bryant (49:37)

And, and, and he's genuine about the free. It's not like a. It's not like a bait and switch. My sense is we never talked about this again. The James Brown version of affirmative action open the door. I get it myself. My sense is that Tim's smart enough to know if I get around John's friends, these corporate people, these leaders, these billionaires, these successful people, and if I impress them with how good my service is, somebody's going to want to hire me. Am I right?

Tim Burt (50:00)

Hustle economics.

John Hope Bryant (50:03)

So he'll do it for free, but he's really investing in himself and we've never talked about this. And I'm going to take him up for his offer, free, believe you me. But he just believes that if people see what he's doing and who he is, that they will be impressed with that and they will want to invest in him, which I think is correct. And we will be bringing the food truck to. Yeah, yeah, you don't know.

Tim Burt (50:24)

We're going to take care of you. And so the last thing I would say with those kids and my son who's 10 years old, I asked them a question, all the kids in the camp, I said, if you could change one thing today or in the future, what would it be? And my 10 year old said, well, dad, I would love to help the homeless people and help people, you know, who are challenged. I said, okay, so where we have our studio is right up the street. You know, homeless people up there. And we said, no, we're not calling them homeless. We call them community partners. So three days later, I went up there and talked to the people. I said, look, we're going to come up and I'm going to have my kids. We're going to bring some, you know, food trailer. We're going to cook. We're going to serve you. I don't want you to move. The kids going to come and serve you. You tell them what you want, they're going to bring it to you. So we pulled a food trail up, and we cooking the food live right there for the community partners. We don't call them homeless. We call them community partners. That's what I told him. And it changed both of their lives because I asked the people, I said, give the kids something that they can always take with them, and the kids gonna give you something that you can always take with you in that service. And I always told him, if you ever want to get to the top, learn how to serve, you have to come to serve and not be served. And that's one thing I love about this guy. When he told me his vision in the beginning, I want to finish. But Abraham Lincoln and Dr. King started. I said, man, that's a tall task. You got to be crazy. You got to be out of your mind. And he said, tim, I am, and I trust God to help me do it. And so that's why I'm with this guy. That's why I support him. That's why he do what he do.

John Hope Bryant (51:44)

He's talking about the Freedman's bank, by the way. Yes. As we wrap on. And you guys, by the way, audience, tell us whether you want me to bring timber back for part two of Hustle Economics. My man's. My man's got a story for days. He started out, oh, well, you know, off.

Tim Burt (51:58)

Well, far off. Come on, man, give it to him.

John Hope Bryant (52:04)

Give him to him. Come on, just give it to him. The real Tim Burt, please.

Tim Burt (52:08)

I hustle my way into the Freakman's Bank. Remember I was your photographer, your personal photographer. You didn't know you had a personal photographer until I got there.

John Hope Bryant (52:14)

What was his name?

Tim Burt (52:15)

The Freedman's Bank.

John Hope Bryant (52:16)

Remember how your personal photographer at the event?

Tim Burt (52:18)

Yeah.

John Hope Bryant (52:19)

Oh, that's right. That's right. That's right. He was taking pictures for me. Tim is always showing up, trying to. Trying to serve, trying to help. What? Why? What did you see in what I'm doing, what we're doing that you think was so Profound and important that you wanted to lean into it. Thank you for all that you've done and you supporting and volunteering the work. Most times we does work for Operation Hope. Whatever he does not send the bill volunteered. And number two, what is a lesson or lessons that you want to leave the audience with today?

Tim Burt (52:55)

I mentioned the word serve and I think that's the greatest ability that I've watched you. You know, you serve the community, serve people who don't even know what you're doing for them. You're going into places bringing back the resources to make sure we live a better life. And when you say you want to eradicate poverty, I watch it. And I understood one thing about service. I started studying that one thing I realized. Dr. King served Dr. Elijah Mays. Ambassador Young served Dr. King. And I watch you serve Ambassador Young. And that's why I serve you. Because if we do this, that's generational. This goes beyond the grave. So when you die, it matter that you live. A lot of people see you and know you and hear you and to be able to help people. And my daughter and her husband came through your program, got their credit straight, got their financial literacy, got the home buying seminar, got a bank to get them approved and they bought the house.

John Hope Bryant (53:52)

Beautiful, beautiful, beautiful. Full circle.

Tim Burt (53:56)

Tomorrow you can prayer.

John Hope Bryant (53:57)

I did not know that.

Tim Burt (53:58)

Yeah, see, I told him I was gonna save him because he always surprised me. I surprised him.

John Hope Bryant (54:01)

Yeah. I did not. So your daughter? Yeah, homeowner. That's fantastic. Operation Hope. That's Operation Hope.

Tim Burt (54:07)

So it works. And I can tell anybody. If you don't know who you are, if you don't know why you're here, I can guarantee you one thing. If you found the Operation Hope near you, if you walk in the bank and you see Hope inside on that door, go in, get involved, tell those people where you are. Don't be ashamed. Don't be afraid. As you can see, when I drove that truck up on that multi million dollar property. Don't get me wrong, John is my friend. I didn't care what he thought about it. The serve that he need, that truck was bringing it.

John Hope Bryant (54:34)

That's right. That's true.

Tim Burt (54:35)

Now he laughed and we laughing and that was the lesson. So never be afraid.

John Hope Bryant (54:40)

That's right.

Tim Burt (54:40)

Don't be ashamed. Let people know who you are, where you are. That's how you get help. That's how you transform your mind. And that's how you become the person that God created you to be.

John Hope Bryant (54:49)

And you're able to do all the stuff you're able to do because you live under your means.

Tim Burt (54:52)

Almost definitely.

John Hope Bryant (54:53)

Yeah. Yeah.

Tim Burt (54:54)

Most definitely.

John Hope Bryant (54:55)

Yeah. So.

Tim Burt (54:55)

And I tell my kids, you know, one time my son came home with a pair, you know, expensive shoes, you know, And I told, hey, man, get your stuff. Get out my house. He was like, well, that's what I tell you. You would never put more in somebody else than you put in yourself if you don't have that in your bank account. Out of my house.

John Hope Bryant (55:11)

So wait a minute. So he came on with some expensive shoes. He's staying with you?

Tim Burt (55:14)

Free gym shoes. Yeah, you can stay with me free as long as you want to. They was in school, and he went about, you know, I was out of town, came back, and I saw the shoes on the bed. I said, hey, you bought those? Yeah. Get out my house. I said, you would never have more in your closet than you do in your bank account.

John Hope Bryant (55:28)

Whoa. So you basically told me, you're on your own now.

Tim Burt (55:32)

Yeah. But you know what he did? Smart hustle, economics from the neck up. He got online, put those shoes online, and sold those shoes and showed me that I sold them.

John Hope Bryant (55:42)

Don't kick me out.

Tim Burt (55:44)

Cause if you can buy those shoes.

John Hope Bryant (55:46)

Yes.

Tim Burt (55:46)

And you gonna support somebody else's business, then you're gonna pay, you know, rent in this house.

John Hope Bryant (55:50)

That's right.

Tim Burt (55:51)

And so that kind of.

John Hope Bryant (55:53)

There's a lot of love in the word no. I love you. You need to go get a job. I love you, but if you're gonna have these kids, you're going to take care of them. I love you, but if you're going to do the crime, you're going to do the time. Yeah, I love you, but you've got to be responsible for your actions. There's no free lunch. If it's free. It's probably stale. Like, these kids. They need direction, man. They need structure. And somebody's got to tell them no.

Tim Burt (56:16)

Yeah.

John Hope Bryant (56:16)

Telling them yes and patting them on the head is not going to help them. I really respect me and learn to like me and like me. They like me and never respect me. So that's really cool. Sir James, who you and I both have a relationship with, he works for me. Sir James would say. He said to his kids one day, they said they didn't want to go to college. And he said, well, look, you have a choice to make. I can either put you through school. This was his son. Or I can put you through a wall.

Tim Burt (56:40)

Yeah. And that's that. That's.

John Hope Bryant (56:41)

That's the great. They got the memo.

Tim Burt (56:44)

Yeah. One thing I say, I would never give you adult privileges without adult responsibility.

John Hope Bryant (56:49)

That's right.

Tim Burt (56:50)

So I think too many people give their kids adult, you know, privileges without adult responsibilities.

John Hope Bryant (56:54)

Yeah. So I was going to ask you when they take a takeaway piece of advice, but you just gave it.

Tim Burt (56:59)

Yeah, that's it.

John Hope Bryant (57:00)

Is there anything else you want to share before we wrap up?

Tim Burt (57:03)

I just think, man, you know, knowing who you are, knowing why God put you here, you got to know who you are. Because you don't. Just like I said, John, always say, somebody tell you before sundown what you would be, and that's not who you are. Never let anybody to define you. Define yourself. Know who you are. Be bold and be this way. From the neck up.

John Hope Bryant (57:21)

Dangerous from the neck up. If you don't know who you are in the morning, by dinner time, somebody's going to tell you who you are.

Tim Burt (57:27)

Yeah.

John Hope Bryant (57:28)

Okay. This has been money and wealth on Black Effect Network and iHeartRadio. This is Tim Burton of Timber Enterprises. You can look them up.

Tim Burt (57:36)

You have a website, Timber Enterprise. Oh, Make Believe Village dot com. That's where we are.

John Hope Bryant (57:41)

Make Believe Village. That's one of his partnerships. What about your construction? Construction company? Is it on?

Tim Burt (57:45)

I kind of retired and turned over to my son, so he's running it now.

John Hope Bryant (57:48)

All right. He's building your son paying you a licensing fee or some kind of override. It's nothing about. I know he's getting paid. Be clear about that.

Tim Burt (57:57)

But we get more into the real estate now. Buying, Looking to buy land and start developing. So that's why I'm hanging with.

John Hope Bryant (58:02)

That's. Yeah. So he, he, he's like. I noticed he's in my pocket. It just, it's just not hit yet. He's not in my. He's like, I need to talk to you. Come on, talk to you. See, he's holler at you. He's not, he's not getting me to write a check. He just wants to pick my brain. He wants to. To pick my brain so he can go and replicate. Because most great things in life are copied. Which, by the way, is very, very smart. Much smarter to pick somebody's brain and pick their pocket. Picking their brain lasts longer. Smart for the neck up. So he's, he's buying houses, Rehabbing them, selling them. Buying, rehabbing them, renting them, which is what I did with the Promise Homes company when I owned it. So kudos to you. There's been money and wealth on Black Effect Network. And this is Tim, Burt and Be inspired. This is Hustle, Economics, Peace and Life, Money and Wealth with John o' Brien is a production of the Black Effect Podcast Network. For more podcast from the Black Effect Podcast network, visit the iHeartRadio app, Apple Podcasts or wherever you listen to your favorite shows. Sa.

Tim Burt (59:58)

Sam.

Ebony (60:46)

Welcome to Pretty Private with ebony, the podcast where silence is broken and stories are set free. I'm Ebony and every Tuesday I'll be sharing all new anonymous stories that would challenge your perceptions and give you new insight on the people around you. Every Tuesday, make sure you listen to Pretty Private from the Black Effect Podcast Network. Tune in on the iHeartRadio app, Apple Podcasts or wherever you listen to your favorite shows.

Dr. Joy Hardin Bradford (61:14)

I'm Dr. Joy Hardin Bradford, host of the Therapy for Black Girls podcast. I know how overwhelming it can feel if flying makes you anxious. In session 418 of the Therapy for Black Girls podcast, Dr. Angela Neal Barnett and I discuss flight anxiety.

Ebony (61:30)

What is not normal is to allow.

Unknown (61:32)

It to prevent you from doing the.

John Hope Bryant (61:34)

Things that you want to do, the.

Unknown (61:36)

Things that you were meant to do.

Dr. Joy Hardin Bradford (61:38)

Listen to Therapy for Black Girls on the iHeartRadio app, Apple Podcasts or wherever you get your podcast.

Dani Shapiro (61:44)

Your entire identity has been fabricated. Your beloved brother goes missing without a trace. You discover the depths of your mother's illness. I'm Dani Shapiro and these are just a few of the powerful stories I'll be mining on our upcoming 12th season of Family Secrets. We continue to be moved and inspired by our guests and their courageously told stories. Listen to Family Secrets Season 12 on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

John Hope Bryant (62:15)

Our iHeartradio Music Festival, presented by Capital One, is coming back to Las Vegas. Vegas, September 19th and 20th on your feet, streaming live only on Hulu. Ladies and gentlemen, Brian Adams, Ed Sheeran, Fade Glorilla, Jelly Roll, John Fogarty, Lil Wayne, LL Cool J, Mariah Carey, Maroon 5, Sammy Hunter Hagar, Tate McCray, the Offspring, Tim McGraw. Tickets are on sale now at AXS.com get your tickets today AXS.com this is an iHeart podcast.